DALLAS, May 07, 2026--(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, 2026.
The Company reported a net loss from continuing operations of ($14,000) for three months ended March 31, 2026, as compared to a net loss of ( $20,000) for the similar period in 2025.
For the three months ended March 31,2026 the Company had revenue of $39,000 including $26,000 for rental income and $13,000 in management fees. For the three months ended March 31,2025 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, 2026, corporate general & administrative expenses were $77,000 as compared to $89,000 for the comparable period in 2025.
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 www.newconceptenergy.com.
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
(amounts in thousands) | |||||||
March 31, 2026 | December 31, 2025 | ||||||
(Unaudited) | (Audited) | ||||||
Assets | |||||||
Current assets | |||||||
Cash and cash equivalents | $ | 318 | $ | 383 | |||
Other current assets | 62 | 13 | |||||
Total current assets | 380 | 396 | |||||
Property and equipment, net of depreciation | |||||||
Land, buildings and equipment | 619 | 622 | |||||
Note and interest receivable - related party | |||||||
Note receivable | 3,542 | 3,542 | |||||
Interest receivable | - | - | |||||
3,542 | 3,542 | ||||||
Total assets | $ | 4,541 | $ | 4,560 | |||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED | |||||||
(dollars in thousands, except per share value amounts) | |||||||
March 31, 2026 | December 31, 2025 | ||||||
(Unaudited) | (Audited) | ||||||
Liabilities and stockholders' equity | |||||||
Current liabilities | |||||||
Accounts payable (including $8 due to related parties in 2026 and 2025) | $ | 25 | $ | 26 | |||
Accrued expenses | 39 | 43 | |||||
Total current liabilities | 64 | 69 | |||||
Stockholders' equity | |||||||
Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and | 1 | 1 | |||||
outstanding at March 31, 2026 and December 31, 2025 | |||||||
Common stock, $.01 par value; authorized, 100,000,000 | |||||||
shares; issued and outstanding, 5,131,934 shares | |||||||
at March 31, 2026 and December 31, 2025 | 51 | 51 | |||||
Additional paid-in capital | 63,579 | 63,579 | |||||
Accumulated deficit | (59,154 | ) | (59,140 | ) | |||
Total stockholders' equity | 4,477 | 4,491 | |||||
Total liabilities and stockholders' equity | $ | 4,541 | $ | 4,560 | |||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
(amounts in thousands, except per share data) | |||||||
Three Months ended March 31, | |||||||
2026 | 2025 | ||||||
(Unaudited) | (Unaudited) | ||||||
Revenue | |||||||
Rent | $ | 26 | $ | 26 | |||
Management fees | 13 | 12 | |||||
Total Revenues | 39 | 38 | |||||
Operating Expenses | |||||||
Operating expenses | 13 | 12 | |||||
Corporate general and administrative | 77 | 89 | |||||
Total Operating Expenses | 90 | 101 | |||||
Loss from operations | (51 | ) | (63 | ) | |||
Other Income | |||||||
Interest income ($34 and $39 from related parties in 2026 and 2025) | 37 | 43 | |||||
Total Other Income | 37 | 43 | |||||
Net income (loss) applicable to common shares | $ | (14 | ) | $ | (20 | ) | |
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 | |||||
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Contacts
New Concept Energy, Inc.
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com