Welcome to our dedicated page for New Concep news (Ticker: GBR), a resource for investors and traders seeking the latest updates and insights on New Concep stock.
New Concept Energy, Inc. (NYSE American: GBR) is a Dallas-based company that owns real estate in West Virginia and provides management services for a third-party oil and gas company. Its news flow is centered on periodic financial updates that detail rent from its West Virginia property, management fee revenue from oil and gas operations, and interest income from a related-party note receivable.
On this page, readers can follow GBR news such as quarterly earnings releases, full-year results, and related announcements that the company also reports in its Form 8-K filings. These updates typically include information on rental income, management fees tied to oil and gas revenue, operating expenses for the real estate property, corporate general and administrative costs, and interest income.
New Concept Energy’s releases often explain changes in management fee revenue by referencing movements in oil and gas prices and the resulting revenue from the managed operations. Annual results discuss performance over the full year, including rent from the leased property, management fees under the oil and gas management agreement, operating expenses, and other income items.
Investors and followers of GBR can use this news feed to review how the company’s rental and management activities, as well as interest income from a related-party note, contribute to net income or loss each period. Regularly checking this page provides a consolidated view of the company’s publicly released financial information and related corporate updates.
New Concept Energy, Inc. (NYSE American: GBR) reported its fourth quarter and full-year results for 2020. The company recorded a gain of $2.1 million from the sale of its oil and gas operation, despite a net loss of $170,000 from discontinued operations compared to $2.4 million in 2019. Continuing operations saw a net loss of $32,000 in Q4 and $52,000 for the year, down from a profit of $60,000 in 2019. Revenues from real estate rentals slightly increased to $101,000, while general and administrative expenses decreased. The company holds total assets of $4.6 million as of December 31, 2020.