New Concept Energy, Inc. (NYSE: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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New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407

info@newconceptenergy.com

New Concept Energy, Inc. Reports First Quarter 2026 Results