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DALLAS, November 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 third quarter ended September 30, 2025.
The Company reported a net loss of ($20,000) for the three months ended September 30, 2024, as compared to a net loss of ($4,000) for the similar period in 2023.
For the three months ended September 30, 2025 the Company had revenue of $39,000 including $26,000 for rental revenue and $13,000 for management fees as compared to revenue of $37,000 including $26,000 for rental revenue and $11,000 for management fees for the comparative period in 2024.
For the three months ended September 30, 2025, corporate general & administrative expenses were $88,000 as compared to $79,000 for the comparable periods in 2024.
For the three months ended September 30, 2024, interest income was $43,000 as compared to $52,000 for the comparable periods 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) | ||||||
September 30, | December 31, | |||||
(Unaudited) | (Audited) | |||||
Assets | ||||||
| ||||||
Current assets | ||||||
Cash and cash equivalents | $ | 307 | $ | 363 | ||
Other current assets |
| 27 |
| 9 | ||
Total current assets |
| 334 |
| 372 | ||
| ||||||
Property and equipment, net of depreciation | ||||||
Land, buildings and equipment |
| 626 |
| 636 | ||
| ||||||
Note and interest receivable - related party | ||||||
Note receivable |
| 3,542 |
| 3,542 | ||
Interest receivable |
| 40 |
| 44 | ||
| 3,582 |
| 3,586 | |||
| ||||||
Total assets | $ | 4,542 | $ | 4,594 | ||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED | |||||||
(amounts in thousands, except share and par value amount) | |||||||
| |||||||
September 30, | December | ||||||
(Unaudited) | (Audited) | ||||||
Liabilities and stockholders' equity | |||||||
| |||||||
Current liabilities | |||||||
Accounts payable | $ | 27 |
| $ | 20 |
| |
Accrued expenses |
| 36 |
|
| 37 |
| |
Total current liabilities |
| 63 |
|
| 57 |
| |
| |||||||
| |||||||
Stockholders' equity | |||||||
Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and |
| 1 |
|
| 1 |
| |
outstanding at September 30, 2025 and December 31, 2024 | |||||||
Common stock, $.01 par value; authorized, 100,000,000 | |||||||
shares; issued and outstanding, 5,131,934 shares | |||||||
at September 30, 2025 and December 31, 2024 |
| 51 |
|
| 51 |
| |
Additional paid-in capital |
| 63,579 |
|
| 63,579 |
| |
Accumulated deficit |
| (59,152 | ) |
| (59,094 | ) | |
Total stockholders' equity |
| 4,479 |
|
| 4,537 |
| |
| |||||||
Total liabilities & stockholders' equity | $ | 4,542 |
| $ | 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 | For the Nine Months | ||||||||||||||
| |||||||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||||||
Revenue | |||||||||||||||
Rent | $ | 26 |
| $ | 26 |
| $ | 78 |
| $ | 76 |
| |||
Management Fee |
| 13 |
|
| 11 |
|
| 39 |
|
| 34 |
| |||
Total Revenues |
| 39 |
|
| 37 |
|
| 117 |
|
| 110 |
| |||
| |||||||||||||||
Operating Expenses | |||||||||||||||
Operating Expenses |
| 14 |
|
| 14 |
|
| 41 |
|
| 39 |
| |||
Corporate general and administrative |
| 88 |
|
| 79 |
|
| 262 |
|
| 235 |
| |||
Total Operating Expenses |
| 102 |
|
| 93 |
|
| 303 |
|
| 274 |
| |||
| |||||||||||||||
Loss from operations |
| (63 | ) |
| (56 | ) |
| (186 | ) |
| (164 | ) | |||
| |||||||||||||||
Other Income | |||||||||||||||
Interest income from related parties |
| 40 |
|
| 50 |
|
| 117 |
|
| 160 |
| |||
Interest income from a third party |
| 3 |
|
| 2 |
|
| 11 |
|
| 5 |
| |||
Total Other Income |
| 43 |
|
| 52 |
|
| 128 |
|
| 165 |
| |||
| |||||||||||||||
Net income (loss) applicable to common shares | $ | (20 | ) | $ | (4 | ) | $ | (58 | ) | $ | 1 |
| |||
| |||||||||||||||
Net income (loss) per common share-basic and diluted | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.01 | ) | $ | 0.01 |
| |||
| |||||||||||||||
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/20251112892120/en/
Contacts
New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
[email protected]
