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Globe and Mail
2 days ago
- Business
- Globe and Mail
New Concept Energy, Inc. Reports Second Quarter 2025 Results
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 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 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
Business Wire
15-05-2025
- Business
- Business Wire
New Concept Energy, Inc. Reports First Quarter 2025 Results
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 first quarter ended March 31, 2025. The Company reported a net loss from continuing operations of ($20,000) for three months ended March 31, 2025, as compared to net income of $2,000 for the similar period in 2024. For the three months ended March 31,2025 and 2024 the Company had revenue of $38,000 including $26,000 for rental income and $12,000 in management fees. For the three months ended March 31, 2025, corporate general & administrative expenses were $89,000 as compared to $78,000 for the comparable period in 2024. About New Concept Energy, Inc. 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 NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (amounts in thousands) March 31, 2025 December 31, 2024 Assets Current assets Cash and cash equivalents $ 333 $ 363 Other current assets 57 9 Total current assets 390 372 Property and equipment, net of depreciation Land, buildings and equipment 633 636 Note and Interest Receivable - related party Note receivable 3,542 3,542 Interest receivable - 44 3,542 3,586 Total assets $ 4,565 $ 4,594 Expand NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED (dollars in thousands, except par value amount) March 31, 2025 December 31, 2024 (Unaudited) (Audited) Liabilities and stockholders' equity Current liabilities Accounts payable (including $8 due to related parties in 2025 and 2024) $ 20 $ 20 Accrued expenses 28 37 Total current liabilities 48 57 Stockholders' equity Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and 1 1 outstanding at March 31, 2025 and December 31, 2024 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at March 31, 2025 and December 31, 2024 51 51 Additional paid-in capital 63,579 63,579 Accumulated deficit (59,114 ) (59,094 ) Total shareholders' equity 4,517 4,537 Total liabilities & equity $ 4,565 $ 4,594 Expand NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (amounts in thousands, except per share data) Three Months ended March 31, 2025 2024 Revenue Rent $ 26 $ 25 Management fees 12 11 Total Revenues 38 36 Operating Expenses Operating expenses 12 13 Corporate general and administrative 89 78 Total Operating Expenses 101 91 Loss from operations (63 ) (55 ) Other Income Interest income ($39 and $53 from related parties in 2025 and 2024) 43 57 Total Other Income 43 57 Net income (loss) applicable to common shares $ (20 ) $ 2 Net income (loss) per common share-basic and diluted $ (0.01 ) $ 0.01 Weighted average common and equivalent shares outstanding - basic and diluted 5,132 5,132 Expand
Yahoo
20-03-2025
- Business
- Yahoo
New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2024 Results
DALLAS, March 20, 2025--(BUSINESS WIRE)--New Concept Energy, Inc. (NYSE American: GBR), (the "Company" or "NCE") a Dallas-based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2024. During the three months ended December 31,2024 the Company reported a net loss of $19,000 compared to a net loss of $39,000 for the same period ended December 31, 2023. For the full year ended December 31, 2024 the Company reported a net loss of $18,000 compared to a net loss of $21,000 for the same period ended December 31, 2023. Fiscal 2024 as compared to 2023 Revenues: Revenues from rent for the leased property was $101,000 in 2024 and 2023. Revenues from managing the oil and gas operations for a third party was $45,000 and $51,000 in 2024 and 2023. The management agreement has the Company receiving a management fee of 10% of oil and gas revenue. The decrease in management fees is due to a decrease in revenue due to a decline in oil and gas prices. Operating Expenses: Operating expenses for the real estate property was $48,000 in 2024 and $57,000 in 2023. General and administrative expenses were $335,000 in 2024 and $338,000 in 2023. Interest Income: Interest Income was $213,000 in 2024 and $222,000 in 2023. About New Concept Energy, Inc. New Concept Energy, Inc. is a Dallas-based company which owns 191 acres of land located in Parkersburg, West Virginia. Located on the land are four structures totaling approximately 53,000 square feet. For more information, visit the Company's website at NEW CONCEPT ENERGY, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (amounts in thousands) At December 31, 2024 2023 Assets Current assets Cash and cash equivalents $ 363 $ 447 Other current assets 9 12 Total current assets 372 459 Property and equipment, net Land, buildings and equipment 636 629 Note and Interest Receivable - related party Note Receivable 3,542 3,542 Interest Receivable 44 - 3,586 3,542 Total assets $ 4,594 $ 4,630 NEW CONCEPT ENERGY, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS - CONTINUED (amounts in thousands, except share amounts) At December 31, 2024 2023 Liabilities and stockholders' equity Current liabilities Accounts payable - trade (including $7 in 2024 and $8 in 2023 due to related parties) $ 20 $ 36 Accrued expenses 37 39 Total current liabilities 57 75 Stockholders' equity Series B convertible preferred stock, $10 par value, liquidation value of $100, authorized 100,000 shares, issued and outstanding one share 1 1 Common stock, $.01 par value; authorized 100,000,000 shares; issued and outstanding, 5,131,934 shares at December 31, 2024 and 2023 51 51 Additional paid-in capital 63,579 63,579 Accumulated deficit (59,094 ) (59,076 ) 4,537 4,555 Total liabilities & stockholders' equity $ 4,594 $ 4,630 NEW CONCEPT ENERGY, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands, except per share data) Year Ended December 31, 2024 2023 Revenue Rent $ 101 $ 101 Management Fee 45 51 146 152 Operating Expenses Operating Expenses 48 57 Corporate general and administrative 335 338 Total Operating Expenses 383 395 Operating loss (237 ) (243 ) Other Income Interest income from a related party 196 213 Interest income 17 9 Other income 6 - Total Other income 219 222 Net loss applicable to common shares $ (18 ) $ (21 ) Net loss per common share-basic and diluted $ (0.01 ) $ (0.01 ) Weighted average common and equivalent shares outstanding - basic and diluted 5,132 5,132 View source version on Contacts New Concept Energy Bertcher(800) 400-6407info@ Sign in to access your portfolio
