New Concept Energy, Inc. Reports First Quarter 2025 Results

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3:30 PM on Thursday, May 15

The Associated Press

DALLAS--(BUSINESS WIRE)--May 15, 2025--

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20250515345761/en/

CONTACT: New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA WEST VIRGINIA TEXAS

INDUSTRY KEYWORD: OTHER ENERGY COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY OIL/GAS ENERGY REIT OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: New Concept Energy, Inc.

PUB: 05/15/2025 04:30 PM/DISC: 05/15/2025 04:31 PM

http://www.businesswire.com/news/home/20250515345761/en