UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

Form 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~December~~March 31, ~~2008~~2009

Commission file number: 0-12809

AMERICAN RESOURCE TECHNOLOGIES, INC.

(Formerly Golden Chief Resources, Inc.)

(Name of small business issuer in its charter)

State of Kansas	48-0846635
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification #)

2351 W. Northwest Highway, Suite 1203, Dallas, Texas 75220

(Address of principal executive offices)(Zip code)

Issuer's telephone number: (214) 705-3781

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] ~~Yes~~ ‪ No [ ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ~~[ ]~~ Accelerated filer ‪[ ] Non-accelerated filer ~~[ ] ‪~~ Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act) Yes [ ] ~~Yes~~ No [X] No

There were 63,041,273 shares of common stock, No Par Value, ~~outstanding as of September 30, 2010.~~

~~PART~~outstanding ~~1. FINANCIAL~~as ~~INFORMATION~~of September 30, 2010.

~~Item~~American ~~1. Financial~~Resource ~~Statements~~Technologies, Inc.

American Resource Technologies, Inc.
Balance Sheets
	(Unaudited)
	December 31			September 30
	2008			2008
A S S E T S
Current assets:
Cash	$	644		$	1,762
Total current assets		644			1,762
Property & equipment
Producing oil & gas properties, net of accumulated
depletion of $31,385 and $24,458 respectively		244,169			251,096
Furniture & fixtures, net of accumulated depreciation
of $8,500 and $7,750 respectively		16,500			17,250
		260,669			268,346
Other assets
Unproved oil & gas properties		42,000			42,000
Total		42,000			42,000
Total assets	$	303,313		$	312,108
L I A B I L I T I E S and S T O C K H O L D E R S' E Q U I T Y
Current liabilities
Accounts payable	$	58,031		$	52,955
Advances from related party		36,121			36,839
Total current liabilities		94,152			89,794
Long-term liabilities
Long-term notes payable		60,000			60,000
Total long-term liabilities		60,000			60,000
Stockholders' equity
Common stock, no par value authorized 500,000,000 shares; 22,098,559 and 15,598,559 issued and outstanding, respectively
Additional paid-in capital		5,417,806			5,157,806
Accumulated deficit		(5,268,645	)		(4,995,492	)
Total stockholders' equity		149,161			162,314
Total liabilities and stockholders' equity	$	303,313		$	312,108

Balance Sheets

The accompanying notes are an integral part of the financial statements

	(Unaudited)
	March 31			September 30
	2008			2008
A S S E T S

Current assets:
Cash	$	35		$	1,762
Total current assets		35			1,762

Property & equipment
Producing oil & gas properties, net of accumulated
depletion of $33,370 and $24,458 respectively		242,184			251,096
Furniture & fixtures, net of accumulated depreciation
of $9,250 and $7,750 respectively		15,750			17,250
		257,934			268,346
Other assets
Unproved oil & gas properties (Note 4)		-			42,000
Consulting receivables, related
parties, net of $750,000 reserve
for uncollectibility (Note 5)		-			-
Investment in Ameribras		40,000
Total		-			42,000

Total assets	$	297,969		$	312,108

L I A B I L I T I E S and S T O C K H O L D E R S' E Q U I T Y

Current liabilities
Accounts payable	$	64,044		$	52,955
Advances from related party		41,803			36,839
Total current liabilities		105,847			89,794

Long-term liabilities
Long-term notes payable		60,000			60,000
Total long-term liabilities		60,000			60,000

Stockholders' equity
Common stock, no par value, authorized 500,000,000 shares; 22,598,559 and 15,598,559 issued and outstanding, respectively		-			-
Additional paid-in capital		5,457,806			5,157,806
Accumulated deficit		(5,325,684	)		(4,995,492	)

Total stockholders' equity		132,122			162,314

Total liabilities and stockholders' equity	$	297,969		$	312,108

The accompanying notes are an integral part of the financial statements.

American Resource Technologies, Inc.
Statements of Operations
For Three Months Ended December 31, 2008 and 2007
(Unaudited)
	2008			2007
Revenue
Oil and gas	$	10,146		$	17,089
Cost of Revenues
Lease operating expenses		10,204			8,102
Depletion		6,927			5,457
Total Cost of Revenues		17,131			13,559
Interest Expense		1,500
Stock based compensation		180,000
Shares issued for consulting		70,000
General & administrative expenses		14,668			127,791
Total Operating Expenses		266,168			127,791
Net loss	$	(273,153	)	$	(124,261	)
Loss per Share	$	(0.02	)	$	(0.01	)
Weighted Average Shares Outstanding		17,606,711			11,339,772

American Resource Technologies, Inc.

~~The~~Statements ~~accompanying notes are an integral part~~ of ~~the financial statements~~Operations

For Three and Six Months Ended March 31, 2009 and 2008

(Unaudited)

	Three Months Ended March 31						Six Months Ended March 31
	2009			2008			2009			2008

Revenue
Oil and gas	$	1,224		$	4,116		$	11,370		$	21,205

Cost of Revenues
Lease operating expenses		2,907			3,136			13,111			11,237
Depletion	$	1,996		$	3,243		$	8,912		$	8,700
Total cost of revenues		4,903			6,379			22,023			19,937

Interest expense		1,250			-			2,750			-
Stock based compensation		-						180,000			-
Shares issued for consulting		-						70,000			-
Asset impairment (Note 4)		42,000						42,000
General & administrative Expense	$	10,110		$	102,182		$	24,789		$	229,974

Total operating expenses		53,360			108,561			319,539			249,911

Non-operating revenue, related party (Note 5)		750,000			-			750,000			-
Reserve for potentially uncollectible revenue		(750,000	)		-			(750,000	)		-

Net Loss	$	(57,039	)	$	(104,445	)	$	(330,192	)	$	(228,706	)

Loss per share	$	-		$	(0.01	)	$	(0.02	)	$	(0.02	)

Weighted Average Shares Outstanding	$	22,120,435		$	12,397,738		$	19,852,509		$	11,898,755

The accompanying notes are an integral part of the financial statements.

American Resource Technologies, Inc.
Statement of Changes in Stockholders' Equity
For the Three Months Ended December 31, 2008
(Unaudited)
	Common Stock		Additional					Total
	Shares		Paid in		Accumulated			Stockholders'
	No par value		Capital		Deficit			Equity
Balances September 30, 2008		15,598,559	$	5,157,806	$	(4,995,492	)	$	162,314
Shares issued for:
Cash		250,000		10,000					10,000
Services		1,750,000		70,000					70,000
Compensation		4,500,000		180,000					180,000
									-
Net loss						(273,153	)		(273,153	)
Balances December 31, 2008		22,098,559	$	5,417,806	$	(5,268,645	)	$	149,161

American Resource Technologies, Inc.

~~The~~ Statement ~~accompanying notes are an integral part~~ of ~~the~~Changes ~~financial~~in ~~statements~~Stockholders' Equity

For the Six Months Ended March 31, 2009

(Unaudited)

	Common Stock		Additional					Total
	Shares		Paid in		Accumulated			Stockholders'
	No par value		Capital		Deficit			Equity
Balances September 30, 2008		15,598,559	$	5,157,806	$	(4,995,492	)	$	162,314

Shares issued for:
Cash		250,000		10,000					10,000
Services		1,750,000		70,000					70,000
Compensation		4,500,000		180,000					180,000
									-

Net loss						(273,153	)		(273,153	)
December 31, 2008		22,098,559		5,417,806		(5,268,645	)	$	149,161
Shares issued for investment		500,000		40,000					40,000
Net Loss						(57,039	)		(57,039	)
Balances March 31, 2009		22,598,559	$	5,457,806	$	(5,325,684	)	$	132,122

The accompanying notes are an integral part of the financial statements.

American Resource Technologies, Inc.
Statements of Cash Flows
For the Three Months December 31, 2008 & 2007
(Unaudited)
	(Unaudited)
Cash Flows from Operating Activities:	2008			2007
Net Loss	$	(273,153	)	$	(124,261	)
Adjustments to reconcile net loss to net cash
used in operating activities:
Depletion		6,927			5,457
Depreciation		750			750
Stock Issued for Services		70,000			79,770
Stock Issued for Compensation		180,000
Change in assets and liabilities:
Increase(Decrease) in:
Accounts Payable		5,076			236
Net Cash Used in Operating Activities		(10,400	)		(38,048	)
Cash Flows from Investing Activities
Advances from related parties		(718	)		(4,458	)
Net Cash Used in Investing Activities		(718	)		(4,458	)
Cash Flows from Financing Activities:
Long-term debt		-			10,000
Proceeds of stock sales		10,000			25,000
Net Cash Provided by Financing Activities		10,000			35,000
Net Increase (Decrease) in Cash		(1,118	)		(7,506	)
Cash -Beginning of period		1,762			25,280
Cash -End of period	$	644		$	17,774
Supplementary Disclosure:
Cash Paid for Interest	$	1,500		$	1,500

American Resource Technologies, Inc.

~~The~~Statements ~~accompanying notes are an integral part~~ of ~~the~~Cash ~~financial statements~~Flows

For the Six Months Ended March 31, 2009 & 2008

(Unaudited)


Cash Flows from Operating Activities:	2009			2008

Net Loss	$	(330,192	)	$	(228,706	)

Adjustments to reconcile net loss to net cash
used in operating activities:
Depletion		8,912			8,700
Depreciation		1,500			1500
Stock Issued for Services		70,000			105,770
Stock Issued for Compensation		180,000			-
Asset impairment		42,000			-
Change in assets and liabilities:
Increase(Decrease) in:
Accounts Payable		11,089			38,344


Net Cash Used in Operating Activities		(16,691	)		(74,392	)

Cash Flows from Investing Activities

Advances from related parties		4,964			16,003

Net Cash Provided by Investing Activities		4,964			16,003

Cash Flows from Financing Activities:

Long-term debt		-			10,000
Proceeds of stock sales		10,000			25,000

Net Cash Provided by Financing Activities		10,000			35,000

Net Decrease in Cash		(1,727	)		(23,389	)

Cash -Beginning of period		1,762			25,280

Cash -End of period	$	35		$	1,891

Supplementary Disclosure:
Cash Paid for Interest	$	2,750		$	1,500
Supplementary Non-cash investing activities:
Stock issued for Investment in Ameribras	$	40,000			-

The accompanying notes are an integral part of the financial statements.

American Resource Technologies, Inc.

Notes to Financial Statements

NOTE 1 – BASIS OF PRESENTATION

The accompanying unaudited financial statements of American Resource Technologies, Inc. (the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q for the three and six month periods ended ~~December~~March 31, ~~2008~~2009 and ~~2007~~2008 and reflect, in the opinion of management, all adjustments, which are of a normal and recurring nature, necessary for a fair presentation of the results for such periods. The foregoing financial statements do not include all information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to financial statements for the year ended September 30, 2008 included in ~~the~~American ~~Company~~Resource Technologies’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with the annual financial statements and accompanying notes. Operating results for the three months ended ~~December~~March 31, ~~2008~~2009 are not necessarily indicative of the results that may be expected for the year ending September 30, 2009.

~~New~~NOTE ~~Accounting~~2 ~~Standards~~– ACCOUNTING POLICIES

~~During~~Property ~~the~~and ~~year~~equipment ~~ended~~are ~~September~~carried ~~30,~~at ~~2008 there were several new accounting pronouncements issued by the Financial Accounting Standards Board (FASB)~~cost. ~~Each~~ Depreciation of ~~these~~property ~~pronouncements,~~and asequipment ~~applicable,~~is ~~has~~provided ~~been~~using ~~or will be adopted by~~ the ~~Company. Management~~straight-line ~~does~~method ~~not~~at ~~believe~~rates ~~the~~based ~~adoption of any of these accounting pronouncements has had or will have a material impact~~ on the ~~Company’s~~following ~~financial~~estimated ~~position~~useful ~~or operating results. The Company will monitor these emerging issues to assess any potential future impact on its consolidated financial statements.~~lives:

NOTE 2 – COMMON STOCK

	Estimated
Classification	Useful Life
Furniture and fixtures	10 Years
Computer equipment	5 Years

~~During~~The cost of asset additions and improvements that extend the ~~three~~useful ~~months~~lives ~~ending~~of ~~December~~property ~~31,~~and ~~2008,~~equipment ~~American~~are ~~Resources~~capitalized. ~~issued~~Routine ~~250,000~~maintenance ~~shares~~and ofrepair ~~common~~items ~~stock~~are ~~for~~charged ~~cash~~to ofcurrent ~~$10,000~~operations. An ~~additional~~The ~~1,750,000~~original ~~shares~~cost ~~were~~and ~~issued~~accumulated ~~for~~depreciation ~~services~~ of ~~$70,000~~asset dispositions are removed from the accounts and ~~4,500,000~~any ~~shares~~gain ~~valued~~or atloss ~~$180,000~~is ~~were~~reflected ~~issued~~in tothe ~~officers~~statement of operations in the ~~Company~~period of disposition.

NOTE 3 – ~~SUBSEQUENT~~COMMON ~~EVENTS~~STOCK

InDuring ~~January of 2009~~ the ~~Company~~three ~~entered~~months ~~into~~ended aMarch ~~lease agreement with Carlton Field~~31, ~~II,~~2009 LPthe toCompany ~~lease~~authorized the ~~current~~issuance ~~space~~of ~~in Dallas~~500,000 ~~Texas~~shares ~~for~~as apayment ~~term~~for ~~of three years at~~ a ~~rate~~12.5% ofinterest ~~$2,000~~in ~~per~~Ameribras ~~month~~Energy. The ~~lease~~shares ~~calls~~were ~~for~~not ~~certain~~issued ~~escalations~~until ~~due~~August toof ~~utility costs and other small items~~2009.

InDuring ~~March~~the ofthree ~~2009~~months ended December 31, 2008, the Company ~~authorized~~issued ~~500~~250,000 shares toof becommon ~~issued~~stock ~~Ameribras~~for ~~valued~~cash atof $4010,000. An additional 1,750,000 shares were issued for anservices ~~interest~~of in$70,000, ~~that~~and ~~company. The~~4,500,000 shares were issued inas ~~August~~compensation of ~~2009~~$180,000.

NOTE 4 – ASSET IMPAIRMENT

The Company has adopted Statement of Financial Accounting Standards (SFAS) No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets” and periodically evaluates, using independent appraisals and projected undiscounted cash flows, the carrying value of its long-lived assets and proved oil and gas properties whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In addition, long-lived assets to be disposed of are reported at the lower of carrying value or fair value less cost to sell. Fair values used for impairment identification are based on discounted cash flow amounts determined by the reserve reports.

During the quarter ended March 31, 2009, the Company determined that the Noll lease shown on the balance sheet as “Unproved oil and gas properties” was a non-producing asset and was 100% impaired.

NOTE 5 – INVESTMENT AND CONSULTING AGREEMENTS

On October 7, 2009, the Company entered into consulting agreements with SkyberCorp do Brasil Telematica LTDA, dba Ameribras Energy and Brazil Asset Management Projectos Limitada to provide management and consulting services effective January 1, 2009. Payments of $450,000 and $300,000 per quarter are due in a balloon payment on or before January 1, 2011 or in quarterly installments when adequate funding is available. The revenue has been accrued as non operating income in the quarter ended March 31, 2009; however, a 100 % reserve has been established due to the potential uncollectibilty of this revenue.

In March of 2009, the Company authorized the issuance of 500,000 shares of common stock valued at $40,000 to purchase a 12.5% interest in Ameribras Energy. The ownership has been recognized in these financial statements due to the effective date of the consulting contract and the subsequent issuance of the common stock. The common stock utilized for purchase of the 12.5% interest in Ameribras Energy was not issued until August of 2009 as the Company and Ameribras Energy were negotiating the final details of the consulting contract and did not have a final agreement until August.

NOTE 6 – SUBSEQUENT EVENTS

In May of 2009 the Company entered into a note agreement which generated $25,000 cash to the Company with a repayment date of one year from the execution date requiring the repayment of $50,000 to the lender. Included in the note agreement was the issuance of warrants for the purchase of 500,000 shares of the Company’s common stock at $0.10 per share, expiring on the fifth anniversary of the grant. This note was satisfied in May of 2010 by the issuance of 500,000 shares of the Company’s common stock.

In June of 2009 the Company issued 500,000 shares to Pat Wilson valued at $11,000 for consulting services, and 250,000 shares valued at $5,500 to ThorGeoTrack for an interest in that company. Also in June of 2009 the Company entered into an agreement with an investor agreeing to pay $40,000 in one year in return for the investment of $25,000. This note was satisfied in June of 2010 by the issuance of 500,000 shares of the Company’s common stock. The investor received a one year option to acquire 500,000 shares of the Company’s common stock for a payment of $0.10 per share.

In July of 2009 the Company issued 750,000 shares to Brasil Asset Management for an interest in that company, and an additional 750,000 shares to AmeriBras (Formerly Skypercorp do Brasil) increasing the Company’s interest in AmeriBras. Each of these issuances were valued at $52,500.

In August of 2009 the Company issued 971,469 shares to Sabine Operating Services in payment of $68,003 in payables to Sabine. The Company also issued 500,000 shares to AmeriBras valued at $40,000 increasing the Company’s interest in that company. The Company issued 250,000 shares to Hilton Research, Inc. valued at $20,000 for consulting services. The Company also issued 1,500,000 shares valued at $75,000 for acquisition of an interest in the Ownbey Nueces wells.

In September of 2009 the Company issued 16,667 shares to an investor for $1,000 cash.

In September of 2009 the Company wrote off the Noll lease as a dry hole.

In October of 2009 the Company issued 250,000 shares to Scott Duperow valued at $15,000 for consulting services.

In October of 2009 the Company entered into an agreement with an investor agreeing to pay $30,000 in one year in return for the investment of $10,000. The investor received a one year option to acquire 500,000 shares of the Company’s common stock for a payment of $0.10 per share.

On October 7, 2009 the Company entered into a management and consulting agreement with SkyberCorp do Brasil to provide management and consulting services for a period of twenty four months. Compensation to the Company is set at $450,000 per calendar quarter beginning January 1, 2009, payable on January 1, 2011, unless paid earlier.

On October 23, 2009 the Company entered into a management and consulting agreement with Brasil Asset Management Projectos Limitada to provide management and consulting services for a period of twenty four months. Compensation to the Company is set at $300,000 per calendar quarter beginning January 1, 2009, payable on January 1, 2011, unless paid earlier.

In November of 2009 the Company authorized 12,500 shares valued at $1,000 for payment of interest on long term debt. The shares were issued in April of 2010.

In November of 2009 the Company entered into an agreement with an investor agreeing to pay $128,000 in one year in return for the investment of $47,500. The investor received a one year option to acquire 1,000,000 shares of the Company’s common stock for a payment of $0.10 per share.

In December of 2009 the Company issued 200,000 shares valued at $14,000 to Princeton Research of Nevada for consulting services.

In December of 2009 the Company entered into an agreement with an investor agreeing to pay $34134,000 in one year in return for the investment of $47,500. The investor received a one year option to acquire 625,000 shares of the Company’s common stock for a payment of $0.10 per share.

In January of 2010 the Company issued 750,000 shares valued at $37,500 to Brasil Asset Management increasing the Company’s interest in that company. The Company issued 500,000 shares to Robert Guzman for cash of $15,000. The Company issued 500,000 shares to Pat Wilson valued at $17,500 for consulting services. The Company issued 31,250 shares valued at $2,500 for payment of interest on long term debt.

In January of 2010 the Company entered into an agreement with an investor agreeing to pay $50,000 in one year in return for the investment of $20,000. The investor received a one year option to acquire 500,000 shares of the Company’s common stock for a payment of $0.10 per share.

On January 1, 2010 the Company entered into a contract for revenue with Brazil Asset Management, Inc. calling for the Company to assist Brazil Asset Management, Inc. in obtaining Brazilian tax credits. The contract calls for a payment to the Company of $1,000,000 on or before January 30, 2011.

In February of 2010 the Company issued 200,000 shares valued at $6,000 to Robert Guzman for consulting services and 66,667 shares to Mr. Guzman for $2,000 cash. The Company issued 200,000 shares valued at $8,182.20 to Scott Duperow for consulting services. The Company issued 750,000 shares valued at $30,000 to Hugh Fowler for administrative services; 750,000 shares valued at $30,000 to M. H. McIlvain for accounting services; 1,500,000 shares valued at $60,000 to B. Fred Oden, III for management services; and 1,000,000 shares valued at $40,000 to MJM Ventures LTD and CD Capital Group for consulting services.

In February of 2010 the Company entered into an agreement with an investor agreeing to pay $125,000 in one year in return for the investment of $52,000. The investor received a one year option to acquire 1,583,334 shares of the Company’s common stock for a payment of $0.10 per share.

In March of 2010 the Company entered into an agreement with an investor agreeing to pay $40,000 in one year in return for the investment of $15,000. The investor received a one year option to acquire 400,000 shares of the Company’s common stock for a payment of $0.10 per share.

In April of 2010 the Company issued 100,000 shares to an investor for $3,000 cash. The Company issued 75,000 shares valued at $3,150 to Scott Duperow for consulting services. The Company issued 450,000 shares valued at $22,250 for an additional interest in the Ownbey lease.

~~In May of 2010 the Company issued 596,667 shares to investors for $26,500 cash. As noted above the Company issued 500,000 shares to satisfy $50,000 in long term debt.~~8

In May of 2010 the Company issued 596,667 shares to investors for $26,500 cash. As noted above the Company issued 500,000 shares to satisfy $50,000 in long term debt. The Company issued 10,000,000 shares valued at $400,000 to B. Fred Oden, III for management services; 7,500,000 shares valued at $300,000 to Pat Wilson for consulting services: 5,000,000 shares valued at $200,000 to Eric Oden for field services: 1,250,000 valued at $50,000 to M. H. McIlvain for accounting and management services; and 1,250,000 shares valued at $50,000 to Hugh Fowler for administrative services.

In May of 2010 the Company entered into an agreement with an investor agreeing to pay $25,000 in one year in return for the investment of $10,000. The investor received a one year option to acquire 250,000 shares of the Company’s common stock for a payment of $0.10 per share.

In June of 2010 the Company issued 220,000 shares to investors for cash of $11,000. The Company issued 187,500 shares valued at $4,000 as an offset to a payable to Sabine Operating Services. The Company issued 500,000 shares to satisfy $40,000 in long term debt. The Company issued 350,000 shares valued at $63,000 to Richard Severson for consulting services.

In June of 2010 the Company entered into an agreement with an investor agreeing to pay $62,500 in one year in return for the investment of $25,000. The investor received a one year option to acquire 625,000 shares of the Company’s common stock for a payment of $0.10 per share.

In July of 2010 the Company authorized 52,500 shares valued at $2,100 to Striker One Resources as an offset to a payable owed to Striker. As of the date of these financials, these shares have not been issued. The Company issued 100,000 shares valued at $14,000 to Bill Addison for the acquisition of Innovative Weaponry, Inc.

In July of 2010 the Company entered into an agreement with an investor agreeing to pay $25,000 in one year in return for the investment of $10,000. The investor received a one year option to acquire 700,000 shares of the Company’s common stock for a payment of $0.10 per share.

In August of 2010 the Company entered into an agreement with an investor agreeing to pay $60,000 in one year in return for the investment of $20,000. The investor received a one year option to acquire 600,000 shares of the Company’s common stock for a payment of $0.10 per share. Also in August the Company entered into an agreement with an investor agreeing to pay $23,750 in one year in return for the investment of $11,660. In August of 2010 the Company issued 40,000 shares in exchange for $2,160 from an investor.

On September 1, 2010 the Company issued 125,000 common shares to Thor Geo Trak for an additional interest in that company.

In ~~October~~September of 2010 the Company entered into an agreement with an investor agreeing to pay $120,000 in one year in return for the investment of $40,000. The investor received a one year option to acquire 1,200,000 shares of the Company’s common stock for a payment of $0.10 per share.

The following table illustrates the foregoing common stock transactions since the date of these financial statements:

Category	Shares		Options		Warrants
Cash		1,540,001
Debt Issuance				8,483,334		500,000
Debt Settlement		1,000,000
Interest Payment		43,750
Services		11,774,994
Investments		3,~~725~~225,000
Ownbey Lease Acquisitions		1,950,000
Compensation		20,908,969
Total		40,~~942~~442,714		8,483,334		500,000

NOTE 4 - STOCK OPTIONS

The following table lists the options outstanding at December 31, 2008:

Gantee	Date of Grant	Exp. Date	Price		# Shares
Pinnacle Consulting Group, Inc.	8/10/2007	1/10/2012	$	0.10		100,000
Pinnacle Consulting Group, Inc.	8/10/2007	1/10/2012	$	0.15		100,000
Gary Hartstein	4/21/2008	5/1/2009	$	0.080		125,000
William Becker	4/21/2008	5/1/2009	$	0.080		156,250
Total options outstanding at 12/31/08						481,250

The outstanding options were purchased by the holders as part of their purchase of restricted common shares on or about the issue date of the options. All of the above options expired unexercised subsequent to December 31, 2008.

In December 2004 FASB issued Statement of Financial Accounting Standards No. 123 (revised 2004), “Share-Based Payment” (“SFAS 123(R)”) which requires companies to recognize in the statement of operations all share-based payments to employees or other parties, including grants of employee stock options based on their fair values.

NOTE 5 - STOCK OPTIONS

The following table lists the options outstanding at March 31, 2008.

Grantee	Date of Grant	Exp. Date	Price		# Shares
Pinnacle Consulting Group, Inc.	8/10/2007	1/10/2012	$	0.10		100,000
Pinnacle Consulting Group, Inc.	8/10/2007	1/10/2012	$	0.15		100,000
Gary Hartstein	4/21/2008	5/1/2009	$	0.125		125,000
William Becker	4/21/2008	5/1/2009	$	0.125		156,250

Total options outstanding at 3/31/09						481,250

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations.

General:

During the current quarter the Company continued operation of the Lindley and Ownbey leases and visited with several possible sources of capital to implement the gas re-injection program on the Ownbey lease. The Noll lease (Unproved oil & gas properties) was allowed to expire and was transferred to Red Clay Energy. There was no cost to plug and abandon the well and since no consideration was received, the lease was written off as impaired.

Capital Resources:

During the current quarter, our capital resources were extremely limited. Our prospects will depend entirely on ~~our~~the Company’s ability to secure future financing and develop additional producing oil & gas properties.

~~The~~Assets ~~assets~~ as of ~~December~~March 31, ~~2008~~2009 ~~totaled~~amounted to $~~303~~297,~~313~~969, consisting primarily of the producing ~~leases and unproved~~ oil ~~and~~& gas ~~properties previously acquired~~leases.

~~Revenues~~Results ~~and~~of ~~Expenses~~Operations:

During the ~~current~~three ~~quarter,~~months weended ~~recognized~~March 31, 2009, oil ~~and~~& gas ~~revenue~~production ofrevenues amounted to $101,~~146~~224, ~~along~~compared ~~with~~to ~~lease~~$4,116 in the same quarter of the prior year. Lease operating expenses and depletion ~~totaling~~for the three months ended March 31, 2009 amounted to $174,~~121~~903 resulting in a loss on oil & gas operations of $3,679 for the quarter and a loss of $2,263 for the six months ended March 31, 2009.

~~During~~General & administrative expenses amounted to $53,360 for the ~~quarter~~three months ended March 31, 2009, a decrease of $48,822 from the comparable period in the prior year. ~~ago~~Our net loss for the three months ended March 31, we2009 ~~reported~~amounted ~~revenues~~to $57,039, a decrease of $1747,~~089~~406 ~~and~~over ~~cost~~the comparable quarter of ~~revenues~~the prior year and resulting in a loss from operations of $13330,~~559~~192 for the six month period ended March 31, 2009. The increase in general and administrative expense resulted from increased consulting fees and compensation expense. Our net loss from operations for the six-month period ended March 31, 2008 amounted to $228,706

~~Gross income on oil & gas operations amounted to $3,530 for the three months ended December 31, 2007~~Liquidity

~~and~~American aResource ~~gross~~Technologies ~~loss~~used ofcash ~~$6,975~~in ~~for~~its ~~the three months ended December 31, 2008. Total~~ operating ~~expense~~activities ~~amounted~~in ~~to $263,932 for~~ the ~~three~~amount ~~months~~of ~~ended December 31~~$16, ~~2008~~691, ana ~~increase~~decrease of $~~136~~57,~~141~~701 ~~from~~over the ~~same~~comparable period inof the prior year. The ~~resulting~~decrease primarily resulted from ~~increased~~the Company paying consulting fees and ~~stock based~~ compensation ~~incurred~~expense ~~during~~with ~~the~~common ~~quarter~~stock.

Liquidity:

Net cash used in operations for the three months ended December 31, 2008 amounted to $8,164 as compared to $38,048 for the comparable period of the prior year. The decrease resulted primarily from non-cash payments for operating expenses.

Cash provided from financing activities for the three month period ended December 31, 2008 amounts to $10,000 and consisted of cash proceeds from common stock issuance.

Subsequent Events:

In January of 2009 the Company entered into a lease agreement with Carlton Field, II, LP to lease the current space in Dallas, Texas for a term of three years at a rate of $2,000 per month. The lease calls for certain escalations due to utility costs and other small items.

In March of 2009 the Company authorized 500,000 shares to be issued Ameribras valued at $40,000 for an interest in that company. The shares were issued in August of 2009.

1011

In September of 2009 the Company issued 16,667 shares to an investor for $1,000 cash.

In September of 2009 the Company wrote off the Noll lease as a dry hole.

In October of 2009 the Company issued 250,000 shares to Scott Duperow valued at $15,000 for consulting services.

In November of 2009 the Company ~~authorized~~issued 12,500 shares valued at $1,000 for payment of interest on long term debt.(Issued ~~The shares were issued in April of~~ 4/26/2010.)

In December of 2009 the Company issued 200,000 shares valued at $14,000 to Princeton Research of Nevada for consulting services.

1112

In July of 2010 the Company ~~authorized~~issued 52,500 shares valued at $2,100 to Striker One Resources as an offset to a payable owed to Striker. AsThe ofCompany ~~the~~issued ~~date~~100,000 ofshares ~~these~~valued ~~financials~~at $14,000 ~~these~~to ~~shares~~Bill ~~have~~Addison ~~not~~for ~~been~~the ~~issued.~~acquisition of Innovative Weaponry, Inc. The Company also issued ~~100~~75,000 shares ~~valued~~of atSeries A convertible preferred stock for cash of $1475,000. The topreferred ~~Bill~~shares ~~Addison~~are convertible at a sliding rate over three years with the shares converting at the end of three years at 8 shares of common stock for each share of preferred. If a Series A Preferred Share is converted after the ~~acquisition~~first anniversary date of ~~Innovative~~the ~~Weaponry~~subscription, ~~Inc~~and prior to the second anniversary date of the subscription agreement, it is converted into 2 shares of common stock. If a Series A Preferred Share is converted, after the second anniversary date of the subscription, and prior to the third anniversary date of the subscription agreement it is converted into 4 shares of common stock. If the Series A Preferred Share has not been converted, prior to the third anniversary date it is automatically converted into 8 shares of common stock.

On September 1, 2010 the Company issued 125,000 common shares to Thor Geo Trak for an additional interest in that company.

In September of 2010 the Company entered into an agreement with an investor agreeing to pay $120,000 in one year in return for the investment of $40,000. The investor received a one year option to acquire 1,200,000 shares of the Company’s common stock for a payment of $0.10 per share.

The following table illustrates the foregoing common stock transactions since the date of these financial statements:

Category	Shares		Options		Warrants
Cash		1,540,001
Debt Issuance				8,483,334		500,000
Debt Settlement		1,000,000
Interest Payment		43,750
Services		11,774,994
Investments		3,225,000
Ownbey Lease Acquisitions		1,950,000
Compensation		20,908,969
Total		40,442,714		8,483,334		500,000

Disclosure Regarding Forward-Looking Statements:

Where this Form 10-Q includes "forward-looking" statements within the meaning of Section 27A of the Securities Act, we desire to take advantage of the "safe harbor" provisions thereof. Therefore, we are including this statement for the express purpose of availing ~~itself~~ourselves of the protections of such safe harbor provisions with respect to all of such forward-looking statements. The forward-looking statements in this Form 10-Q reflect our current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from those anticipated. In this Form 10-Q, the words "anticipates," "believes, "expects," "intends," "future" and similar expressions identify forward-looking statements. We undertake no obligation to publicly revise these forward-looking statements to reflect events or circumstances that may arise after the date hereof. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this section.

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PART II. OTHER INFORMATION

Item 2. Changes in Securities

~~There were no changes in securities during the current quarter.~~ None

ITEM 3. CONTROLS AND PROCEDURES.

a) Evaluation of Disclosure Controls and Procedures. As of ~~December~~March 31, ~~2008~~2009, the Company’s management carried out an evaluation, under the supervision of the Company’s Chief Executive Officer and Chief Financial Officer of the effectiveness of the design and operation of the Company’s system of disclosure controls and procedures pursuant to the Securities and Exchange Act, Rule 13a-15(e) and 15d-15(e) under the Exchange Act). Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective, as of the date of their evaluation, for the purposes of recording, processing, summarizing and timely reporting material information required to be disclosed in reports filed by the Company under the Securities Exchange Act of 1934. Our auditors proposed material adjustments related to the issuance of stock for services, among others, which have been recorded by the Company. The Company is working to improve its accounting expertise to eliminate such adjustments in the future.

b) Changes in internal controls. There were no changes in internal controls over financial reporting, known to the Chief Executive Officer or Chief Financial Officer that occurred during the period covered by this report that has materially affected, or is likely to materially effect, the Company’s internal control over financial reporting.

Item 4. Submission of Matters to a Vote of Securities Holders

~~None~~No matters have been submitted to a vote of the securities holders during the current quarter.

Item 6. Exhibits and Reports on Form 8-K

~~None~~There were no filings on Form 8-K during the current quarter.

~~Exhibits~~15

Exhibit 32.1 Section 1350 Certification of Chief Executive Officer and Chief Financial Officer

SIGNATURES

In accordance with Section 13 or 15 (d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AMERICAN RESOURCE TECHNOLOGIES, INC.

Date: October 29, 2010	/s/ B. FRED ODEN, III
Date: November 8, 2010	/s/ B. FRED ODEN, III
	By: B. Fred Oden, III, President
Date: October 29, 2010	/s/ M. H. MCILVAIN
Date: November 8, 2010	/s/ Pat Wilson
	By: M. H. McIlvain,
	By: Pat Wilson, Executive Vice-President & Chief Accounting Officer
	Executive Vice President
	and Chief Financial Officer

1516

Filing Compare · American Resource Technologies, Inc.