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 www.newconceptenergy.com.

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

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

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

 

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New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407

info@newconceptenergy.com

Source: New Concept Energy, Inc.