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 | |||||||||||
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Contacts
New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com