New Concept Energy, Inc. Reports Second Quarter 2025 Results

Business Wire

2 days ago

DALLAS--(BUSINESS WIRE)--New Concept Energy, Inc. (NYSE American: GBR), (the 'Company' or 'NCE') a Dallas-based company, today reported Results of Operations for the second quarter ended June 30, 2025.
The Company reported a net loss from continuing operations of ($18,000) for three months ended June 30, 2025, as compared to net income of $3,000 for the similar period in 2024.
For the three months ended June 30, 2025 the Company had revenue of $40,000 including $26,000 for rental income and $14,000 in management fees. For the three months ended June 30, 2024 the Company had revenue of $37,000 including $25,000 for rental income and $12,000 in management fees.
For the three months ended June 30, 2025, corporate general & administrative expenses were $85,000 as compared to $78,000 for the comparable period in 2024.
For the three months ended June 30, 2025, interest income was $42,000 as compared to $56,000 for the comparable period in 2024.
New Concept Energy, Inc. is a Dallas-based company which owns real estate in West Virginia and provides management services for a third-party oil and gas company. For more information, visit the Company's website at www.newconceptenergy.com.
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED
(amounts in thousands, except share and par value amount)
June 30, 2025 December 31, 2024
(Unaudited) (Audited)
Liabilities and stockholders' equity
Current liabilities
Accounts payable
$
27
$
20
Accrued expenses
48
37
Total current liabilities
75
57
Stockholders' equity
Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and
1
1
outstanding at June 30, 2025 and December 31, 2024
Common stock, $.01 par value; authorized, 100,000,000
shares; issued and outstanding, 5,131,934 shares
at June 30, 2025 and December 31, 2024
51
51
Additional paid-in capital
63,579
63,579
Accumulated deficit
(59,132
)
(59,094
)
Total stockholders' equity
4,499
4,537
Total liabilities & stockholders' equity
$
4,574
$
4,594
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NEW CONCEPT ENERGY, INC AND SUBSIDIARY
(Unaudited)
(amounts in thousands, except per share data)
For the Three Months ended June 30,
For the Six Months ended June 30,
2025
2024
2025
2024
Revenue
Rent
$
26
$
25
$
52
$
50
Management fee
14
12
26
23
Total revenues
40
37
78
73
Operating expenses
Operating expenses
15
12
27
25
Corporate general and administrative
85
78
174
156
Total operating expenses
100
90
201
181
Loss from operations
(60
)
(53
)
(123
)
(108
)
Other income
Interest income (from related parties)
42
56
85
113
Total other income
42
56
85
113
Net income (loss) applicable to common shares
$
(18
)
$
3
$
(38
)
$
5
Net income (loss) per common share-basic and diluted
$
(0.00
)
$
0.00
$
(0.00
)
$
0.00
Weighted average common and equivalent shares outstanding - basic and diluted
5,132
5,132
5,132
5,132
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