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  4. [8-K] New Concept Energy, Inc. Reports Material Event

New Concept Energy (NYSE: GBR) 2025 loss widens as costs rise

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(High)
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8-K

Rhea-AI Filing Summary

New Concept Energy, Inc. reported a small profit for the fourth quarter of 2025 but a wider loss for the full year. For the quarter ended December 31, 2025, the company generated net income of $12,000, compared with a net loss of $19,000 a year earlier.

For the full year 2025, New Concept Energy recorded a net loss of $46,000, deeper than the $18,000 loss for the year ended December 31, 2043. Total 2025 revenues were $155,000, up slightly from $146,000, driven by modest growth in rent and management fees, while operating expenses and lower interest income offset these gains.

At December 31, 2025, the company reported total assets of $4.56 million and stockholders’ equity of $4.49 million, including cash and cash equivalents of $383,000. Results were furnished in a press release attached as an exhibit.

Positive

  • None.

Negative

  • Full-year loss widened despite higher revenue: Net loss applicable to common shares increased to $46,000 in 2025 from $18,000 in the prior year, as higher operating expenses and lower interest income offset modest revenue growth.

Insights

Quarter turns profitable, but full-year loss widens on higher costs.

New Concept Energy showed a modest turnaround in Q4 2025 with net income of $12,000 versus a $19,000 loss the prior year’s quarter. Full-year revenue edged up to $155,000, mainly from slightly higher rent and management fee income.

However, operating expenses rose to $420,000 from $383,000, and interest income declined to $169,000, leading to a larger full-year net loss of $46,000 compared with $18,000. A one-time $50,000 collection on a previously reserved note supported other income.

The balance sheet remains relatively small but simple, with total assets of $4.56 million and equity of $4.49 million as of December 31, 2025. Future disclosures in company communications may clarify whether cost trends stabilize or continue to pressure profitability.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 99.2 Item 99.2
Q4 2025 net income $12,000 Three months ended December 31, 2025
Full-year net loss 2025 $46,000 Year ended December 31, 2025, vs $18,000 prior year
Total revenues 2025 $155,000 Rent $103,000 and management fees $52,000 in 2025
Total operating expenses 2025 $420,000 Operating expenses and corporate G&A for 2025
Interest income 2025 $169,000 Down from $213,000 in 2024 due to lower variable rate
Total assets $4.56 million Total assets as of December 31, 2025
Cash and cash equivalents $383,000 Cash position at December 31, 2025
Stockholders’ equity $4.49 million Equity balance at December 31, 2025
management fee financial
"The management agreement has the Company receiving a management fee of 10% of oil and gas revenue."
A management fee is the regular charge that a fund or investment firm takes for running and overseeing investors’ money, typically expressed as a percentage of assets under management. It matters because this ongoing cost reduces the net returns you receive—like paying a caretaker a slice of a garden’s harvest—and higher fees can significantly erode long-term investment gains.
general and administrative expenses financial
"General and administrative expenses were $364,000 in 2025 and $335,000 in 2024."
Costs a company pays to run its basic operations that are not directly tied to making a product or delivering a service, such as executive salaries, office rent, utilities, accounting, legal and human resources. Investors care because these steady overhead costs reduce profits and cash flow regardless of sales volume, so changes in them reveal how efficiently management runs the business—like household bills that shrink or grow independently of how much you earn.
accumulated deficit financial
"Accumulated deficit | | | (59,140 | ) | | | (59,094 | )"
Accumulated deficit is the running total of a company’s past net losses minus any profits, showing how much the business has eaten into its own funds over time—think of it like a bank account that’s been overdrawn by repeated shortfalls. It matters to investors because a large accumulated deficit reduces the cushion that protects owners and creditors, can limit dividends or borrowing, and signals how much funding the company may need to reach profitability.
additional paid-in capital financial
"Additional paid-in capital | | | 63,579 | | | | 63,579 |"
Amount of money shareholders have paid to a company for shares that is above the stock’s nominal or par value; think of it as the extra premium paid when a group buys a ticket that has a low listed price. It matters to investors because it represents permanent capital on the balance sheet that can cushion losses, affect book value per share and indicate how much fresh cash equity holders have contributed beyond the minimum share value.
net loss per common share-basic and diluted financial
"Net loss per common share-basic and diluted | | $ | (0.01 | )"
Total revenue $155,000 up from $146,000 in 2024
Net income (Q4 2025) $12,000 improved from $19,000 net loss in Q4 2024
Net loss (FY 2025) $46,000 wider than $18,000 prior year loss
Understanding 8-K Material Events →
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act

 

Date of Report (Date of earliest event reported): March 31, 2026

 

NEW CONCEPT ENERGY, INC.

 

(Exact Name of Registrant as Specified in its Charter)

 

Nevada 000-08187 75-2399477

(State or other

jurisdiction of incorporation)

(Commission

File No.)

(I.R.S. Employer

Identification No.)

     
   

1603 LBJ Freeway, Suite 800

Dallas, Texas

 75234
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code 972-407-8400

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 30.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

Title of Each Class

Trading

Symbol

 

Name of Each Exchange on which Registered

 

Common Stock, par value $0.01

 

GBR

 

NYSE American

 

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (‘230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (‘240.12b-2 of this chapter).

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ¨

 

 

  
 

 

Section 2 – Financial Information Statements

 

Item 2.02. Results of Operations and Financial Condition.

 

On March 31, 2026, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended December 31, 2025. A copy of the announcement is attached as Exhibit “99.1.”

 

The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

 

Section 9 – Financial Statements and Exhibits

 

Item 99.2 Financial Statements and Exhibits.

 

(d)       Exhibits.       The following exhibit is furnished with this Report:

 

Exhibit

Designation

  

 

Description

     
99.1*   Press Release, dated March 31, 2026

 

 

_________________________

* Furnished herewith

 

  
 

 

Dated: April 6, 2026.

 

  NEW CONCEPT ENERGY, INC.
   
     
  By: /s/ Gene S. Bertcher
    Gene S. Bertcher, President, Chief
    Executive and Financial
    Officer

 

 

 

 

 

 

 

Exhibit 99.1

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Contact:

 

New Concept Energy Inc.

Gene Bertcher

(800) 400-6407

info@newconceptenergy.com

 

 

 

 

New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2025 Results

 

Dallas (March 31, 2026) New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2025.

 

During the three months ended December 31,2025 the Company reported net income of $12,000 compared to a net loss of $19,000 for the same period ended December 31, 2024.

 

For the full year ended December 31, 2025 the Company reported a net loss of $46,000 compared to a net loss of $18,000 for the same period ended December 31, 2043.

 

Fiscal 2025 as compared to 2024

 

Revenues: Revenues from rent for the leased property was $103,000 in 2025 and $101,000 in 2024. Revenues from managing the oil and gas operations for a third party was $52,000 and $45,000 in 2025 and 2024. The management agreement has the Company receiving a management fee of 10% of oil and gas revenue. The increase in management fees is due to an increase in revenue due to an increase in oil and gas prices.

 

Operating Expenses: Operating expenses for the real estate property was $56,000 in 2025 and $48,000 in 2024. General and administrative expenses were $364,000 in 2025 and $335,000 in 2024.

 

Interest Income: Interest Income was $169,000 in 2025 and $213,000 in 2024. The note receivable has a variable interest rate and in 2025 the interest rate was lower.

 

Other Income: In the fourth quarter of 2025 the Company collected $50,000 for an old note receivable that had been previously fully reserved.

 

About New Concept Energy, Inc.

 

New Concept Energy, Inc. is a Dallas-based company which owns 191 acres of land located in Parkersburg, West Virginia. Located on the land are four structures totaling approximately 53,000 square feet. For more information, visit the Company’s website at www.newconceptenergy.com.

 

Contact:

New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407

info@newconceptenergy.com

 

  
 

 

NEW CONCEPT ENERGY, INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

(amounts in thousands)

 

   December 31, 
   2025   2024 
Assets        
         
Current assets          
Cash and cash equivalents  $383   $363 
Other current assets   13    9 
Total current assets   396    372 
           
Property and equipment, net          
Land, buildings and equipment   622    636 
           
Note and interest receivable          
Note receivable   3,542    3,542 
Interest receivable   -    44 
    3,542    3,586 
           
           
Total assets  $4,560   $4,594 

 

  
 

 

NEW CONCEPT ENERGY, INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS - CONTINUED

(amounts in thousands, except share amounts)

 

   December 31, 
   2025   2024 
Liabilities and stockholders' equity          
           
Current liabilities          
Accounts payable - trade (including $6 in 2025 and $7 in 2024 due to Pillar)  $26   $20 
Accrued expenses   43    37 
Total current liabilities   69    57 
           
           
Stockholders' equity          
          
Series B convertible preferred stock, $10 par value, authorized 100,000 shares, issued and outstanding one share   1    1 
Common stock, $.01 par value; authorized 100,000,000 shares; issued and outstanding, 5,131,934 shares at December 31, 2025 and 2024   51    51 
Additional paid-in capital   63,579    63,579 
Accumulated deficit   (59,140)   (59,094)
Total stockholdrs' equity   4,491    4,537 
           
Total liabilities & stockholders' equity  $4,560   $4,594 

 

  
 

 

NEW CONCEPT ENERGY, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF OPERATIONS

(amounts in thousands, except per share data)

 

   Year Ended December 31, 
   2025   2024 
Revenue        
Rent  $103   $101 
Management fee   52    45 
Total Revenues   155    146 
           
Operatingf expenses          
Operating expenses   56    48 
Corporate general and administrative   364    335 
Total operating expenses   420    383 
           
Loss from operations   (265)   (237)
           
Other income          
Interest income   169    213 
Other income   50    6 
Total other income   219    219 
           
Net loss applicable to common shares  $(46)  $(18)
           
           
Net 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 

 

 

 

 

 

 

 

Source: View Original Filing on SEC EDGAR

FAQ

How did New Concept Energy (GBR) perform in Q4 2025?

New Concept Energy reported net income of $12,000 for Q4 2025, improving from a $19,000 net loss in the same quarter of 2024. The improvement reflects slightly higher revenues and other income relative to operating costs.

What was New Concept Energy’s full-year 2025 net result?

For 2025, New Concept Energy recorded a net loss of $46,000, compared to a $18,000 net loss for the prior year period. Modest revenue growth was outweighed by higher operating expenses and reduced interest income over the year.

How did New Concept Energy’s 2025 revenues compare to 2024?

Total revenues in 2025 were $155,000, slightly above $146,000 in 2024. Rent revenue increased to $103,000 from $101,000, and management fees rose to $52,000 from $45,000, reflecting higher oil and gas-related activity.

What were New Concept Energy’s key operating expenses in 2025?

Operating expenses totaled $420,000 in 2025, up from $383,000 in 2024. Real estate operating costs were $56,000 versus $48,000, and corporate general and administrative expenses were $364,000 versus $335,000, contributing to the wider annual loss.

What does New Concept Energy’s 2025 balance sheet show?

As of December 31, 2025, New Concept Energy reported total assets of $4.56 million and stockholders’ equity of $4.49 million. Cash and cash equivalents were $383,000, and note receivable balances totaled $3.54 million, highlighting a largely asset-based capital structure.

Did New Concept Energy report any notable one-time income in 2025?

Yes. In Q4 2025, New Concept Energy collected $50,000 on an old note receivable that had been fully reserved. This collection was reported as other income and supported total other income of $219,000 for the year, matching 2024’s level.

Filing Exhibits & Attachments

4 documents

Press Releases

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