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DALLAS, August 12, 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 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 | ||||||
(amounts in thousands) | ||||||
| ||||||
June 30, 2025 | December 31, 2024 | |||||
(Unaudited) | (Audited) | |||||
Assets | ||||||
| ||||||
Current assets | ||||||
Cash and cash equivalents | $ | 356 | $ | 363 | ||
Other current assets |
| 47 |
| 9 | ||
Total current assets |
| 403 |
| 372 | ||
| ||||||
Property and equipment, net of depreciation | ||||||
Land, buildings and equipment |
| 629 |
| 636 | ||
| ||||||
Note and interest receivable - related party | ||||||
Note receivable |
| 3,542 |
| 3,542 | ||
Interest receivable |
| - |
| 44 | ||
| 3,542 |
| 3,586 | |||
| ||||||
Total assets | $ | 4,574 | $ | 4,594 | ||
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 | |||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
(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 |
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|
| 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 |
| |||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250812919603/en/
Contacts
New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
