New Concept Energy, Inc. (NYSE:GBR), (the "Company" or "NCE") a Dallas-based company, today reported Results of Operations for the second quarter ended June 30, 2025.
The Company reported a net loss from continuing operations of ($18,000) for three months ended June 30, 2025, as compared to net income of $3,000 for the similar period in 2024.
For the three months ended June 30, 2025 the Company had revenue of $40,000 including $26,000 for rental income and $14,000 in management fees. For the three months ended June 30, 2024 the Company had revenue of $37,000 including $25,000 for rental income and $12,000 in management fees.
For the three months ended June 30, 2025, corporate general & administrative expenses were $85,000 as compared to $78,000 for the comparable period in 2024.
For the three months ended June 30, 2025, interest income was $42,000 as compared to $56,000 for the comparable period 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) | ||||||
| June 30, 2025 | December 31, 2024 | |||||
| (Unaudited) | (Audited) | |||||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ |
356 |
$ |
363 |
||
| Other current assets |
|
47 |
|
9 |
||
| Total current assets |
|
403 |
|
372 |
||
| Property and equipment, net of depreciation | ||||||
| Land, buildings and equipment |
|
629 |
|
636 |
||
| Note and interest receivable - related party | ||||||
| Note receivable |
|
3,542 |
|
3,542 |
||
| Interest receivable |
|
- |
|
44 |
||
|
3,542 |
|
3,586 |
|||
| Total assets | $ |
4,574 |
$ |
4,594 |
||
| NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED | |||||||
| (amounts in thousands, except share and par value amount) | |||||||
| June 30, 2025 | December 31, 2024 | ||||||
| (Unaudited) | (Audited) | ||||||
| Liabilities and stockholders' equity | |||||||
| Current liabilities | |||||||
| Accounts payable | $ |
27 |
|
$ |
20 |
|
|
| Accrued expenses |
|
48 |
|
|
37 |
|
|
| Total current liabilities |
|
75 |
|
|
57 |
|
|
| Stockholders' equity | |||||||
| Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and |
|
1 |
|
|
1 |
|
|
| outstanding at June 30, 2025 and December 31, 2024 | |||||||
| Common stock, $.01 par value; authorized, 100,000,000 | |||||||
| shares; issued and outstanding, 5,131,934 shares | |||||||
| at June 30, 2025 and December 31, 2024 |
|
51 |
|
|
51 |
|
|
| Additional paid-in capital |
|
63,579 |
|
|
63,579 |
|
|
| Accumulated deficit |
|
(59,132 |
) |
|
(59,094 |
) |
|
| Total stockholders' equity |
|
4,499 |
|
|
4,537 |
|
|
| Total liabilities & stockholders' equity | $ |
4,574 |
|
$ |
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 ended June 30, |
|
For the Six Months ended June 30, |
|||||||||||||
|
|
|
|
|
|
|
|||||||||
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
| Revenue | |||||||||||||||
| Rent | $ |
26 |
|
$ |
25 |
|
$ |
52 |
|
$ |
50 |
|
|||
| Management fee |
|
14 |
|
|
12 |
|
|
26 |
|
|
23 |
|
|||
| Total revenues |
|
40 |
|
|
37 |
|
|
78 |
|
|
73 |
|
|||
| Operating expenses | |||||||||||||||
| Operating expenses |
|
15 |
|
|
12 |
|
|
27 |
|
|
25 |
|
|||
| Corporate general and administrative |
|
85 |
|
|
78 |
|
|
174 |
|
|
156 |
|
|||
| Total operating expenses |
|
100 |
|
|
90 |
|
|
201 |
|
|
181 |
|
|||
| Loss from operations |
|
(60 |
) |
|
(53 |
) |
|
(123 |
) |
|
(108 |
) |
|||
| Other income | |||||||||||||||
| Interest income (from related parties) |
|
42 |
|
|
56 |
|
|
85 |
|
|
113 |
|
|||
| Total other income |
|
42 |
|
|
56 |
|
|
85 |
|
|
113 |
|
|||
| Net income (loss) applicable to common shares | $ |
(18 |
) |
$ |
3 |
|
$ |
(38 |
) |
$ |
5 |
|
|||
| Net income (loss) per common share-basic and diluted | $ |
(0.00 |
) |
$ |
0.00 |
|
$ |
(0.00 |
) |
$ |
0.00 |
|
|||
| Weighted average common and equivalent shares outstanding - basic and diluted |
|
5,132 |
|
|
5,132 |
|
|
5,132 |
|
|
5,132 |
|
|||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250812919603/en/
New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
[email protected]