AREC American Resources Corporation

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * Jensen Mark C.	2. Issuer Name and Ticker or Trading Symbol American Resources Corp [ AREC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    __X__ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) Mark C. Jensen
(Last)          (First)          (Middle) PO BOX 606	3. Date of Earliest Transaction (MM/DD/YYYY) 4/28/2021
(Street) FISHERS, IN 46038 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	4/28/2021		M		5419 (1)	A	$1.05	5144896	D
Class A Common Stock	4/28/2021		M		500 (2)	A	$1.5	5144896	D
Class A Common Stock	4/28/2021		M		14101 (3)	A	$1.05	15430	I	Beneficially owned through Westside Advisors LLC, of which reporting person owns 60.0%
Class A Common Stock	4/28/2021		M		1329 (4)	A	$1.5	15430	I	Beneficially owned through Westside Advisors LLC, of which reporting person owns 60.0%
Class A Common Stock								74551	I	beneficially owned through T Squared Capital LLC, of which reporting person owns 60.0%

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Convertible Debt	$1.05	4/28/2021		C (7)			$14806.52 (5)	(6)	(6)	Class A Common Stock	14101	$1.05	15430	I	beneficially owned through Westside Advisors LLC, of which reporting person owns 60.0%
Warrant	$1.5	4/28/2021		X (8)			1329	6/1/2020	6/1/2022 (9)	Class A Common Stock	1329	$1.5	15430	I	Beneficially owned through Westside Advisors LLC, of which reporting person owns 60.0%
Convertible Debt	$1.05	4/28/2021		C (10)			$5689.24 (12)	(11)	(11)	Class A Common Stock	5419	$1.05	5144896	D
Warrant	$1.5	4/28/2021		X (2)			500	4/14/2020	4/14/2022 (9)	Class A Common Stock	500	$1.5	5144896	D

Explanation of Responses:
(1)	Represents conversion of convertible debt held by Reporting Person
(2)	Represents exercise of warrants held by Reporting Person.
(3)	Represents conversion of convertible debt held indirectly by Reporting Person.
(4)	Represents exercise of warrants held indirectly by Reporting Person.
(5)	Represents conversion of convertible debt and accrued interest held indirectly by Reporting Person.
(6)	Convertible debt convertible into Class A Common Shares of American Resources Corporation at $1.05 per share at discretion of holder. Convertible debt matures earliest on 06/01/2022.
(7)	Entity for which Reporting Person is a beneficial owner converted all of its Convertible Debt and accrued interest held in Issuer.
(8)	Entity for which Reporting Person is a beneficial owner exercised all of its Warrants held in Issuer.
(9)	Warrant exercisable into Class A Common Stock of American Resources Corporation at an exercise price of $1.50 per share any time up until the expiration date at discretion of the holder.
(10)	Reporting Person converted all of its Convertible Debt and accrued interest held in Issuer.
(11)	Convertible debt convertible into Class A Common Shares of American Resources Corporation at $1.05 per share at discretion of holder. Convertible debt matures on 04/14/2022.
(12)	Represents conversion of convertible debt and accrued interest held by Reporting Person.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Jensen Mark C. PO BOX 606 FISHERS, IN 46038	X	X	Mark C. Jensen

Signatures
Mark C. Jensen		4/29/2021
**Signature of Reporting Person		Date