Company Website:
http://www.newconceptenergy.com/
DALLAS -- (Business Wire)
New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based company, today reported Results of Operations for the third quarter ended September 30, 2025.
The Company reported a net loss of ($20,000) for the three months ended September 30, 2024, as compared to a net loss of ($4,000) for the similar period in 2023.
For the three months ended September 30, 2025 the Company had revenue of $39,000 including $26,000 for rental revenue and $13,000 for management fees as compared to revenue of $37,000 including $26,000 for rental revenue and $11,000 for management fees for the comparative period in 2024.
For the three months ended September 30, 2025, corporate general & administrative expenses were $88,000 as compared to $79,000 for the comparable periods in 2024.
For the three months ended September 30, 2024, interest income was $43,000 as compared to $52,000 for the comparable periods 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) |
| | September 30,
2025 | | December 31,
2024 |
| | (Unaudited) | | (Audited) |
| Assets | | | | |
| | | | |
| Current assets | | | | |
| Cash and cash equivalents | |
$
|
307
| |
$
|
363
|
| Other current assets | |
|
27
| |
|
9
|
| Total current assets | |
|
334
| |
|
372
|
| | | | |
| Property and equipment, net of depreciation | | | | |
| Land, buildings and equipment | |
|
626
| |
|
636
|
| | | | |
| Note and interest receivable - related party | | | | |
| Note receivable | |
|
3,542
| |
|
3,542
|
| Interest receivable | |
|
40
| |
|
44
|
| |
|
3,582
| |
|
3,586
|
| | | | |
| Total assets | |
$
|
4,542
| |
$
|
4,594
|
| NEW CONCEPT ENERGY, INC. AND SUBSIDIARY |
| CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED |
| (amounts in thousands, except share and par value amount) |
| | | |
| September 30,
2025 | | December
31, 2024 |
| (Unaudited) | | (Audited) |
| Liabilities and stockholders' equity | | | |
| | | |
| Current liabilities | | | |
| Accounts payable |
$
|
27
|
| |
$
|
20
|
|
| Accrued expenses |
|
36
|
| |
|
37
|
|
| Total current liabilities |
|
63
|
| |
|
57
|
|
| | | |
| | | |
| Stockholders' equity | | | |
| Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and |
|
1
|
| |
|
1
|
|
| outstanding at September 30, 2025 and December 31, 2024 | | | |
| Common stock, $.01 par value; authorized, 100,000,000 | | | |
| shares; issued and outstanding, 5,131,934 shares | | | |
| at September 30, 2025 and December 31, 2024 |
|
51
|
| |
|
51
|
|
| Additional paid-in capital |
|
63,579
|
| |
|
63,579
|
|
| Accumulated deficit |
|
(59,152
|
)
| |
|
(59,094
|
)
|
| Total stockholders' equity |
|
4,479
|
| |
|
4,537
|
|
| | | |
| Total liabilities & stockholders' equity |
$
|
4,542
|
| |
$
|
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 September 30, | | For the Nine Months
ended September 30, |
| | | | | | | |
| 2025 | | 2024 | | 2025 | | 2024 |
| Revenue | | | | | | | |
| Rent |
$
|
26
|
| |
$
|
26
|
| |
$
|
78
|
| |
$
|
76
|
|
| Management Fee |
|
13
|
| |
|
11
|
| |
|
39
|
| |
|
34
|
|
| Total Revenues |
|
39
|
| |
|
37
|
| |
|
117
|
| |
|
110
|
|
| | | | | | | |
| Operating Expenses | | | | | | | |
| Operating Expenses |
|
14
|
| |
|
14
|
| |
|
41
|
| |
|
39
|
|
| Corporate general and administrative |
|
88
|
| |
|
79
|
| |
|
262
|
| |
|
235
|
|
| Total Operating Expenses |
|
102
|
| |
|
93
|
| |
|
303
|
| |
|
274
|
|
| | | | | | | |
| Loss from operations |
|
(63
|
)
| |
|
(56
|
)
| |
|
(186
|
)
| |
|
(164
|
)
|
| | | | | | | |
| Other Income | | | | | | | |
| Interest income from related parties |
|
40
|
| |
|
50
|
| |
|
117
|
| |
|
160
|
|
| Interest income from a third party |
|
3
|
| |
|
2
|
| |
|
11
|
| |
|
5
|
|
| Total Other Income |
|
43
|
| |
|
52
|
| |
|
128
|
| |
|
165
|
|
| | | | | | | |
| Net income (loss) applicable to common shares |
$
|
(20
|
)
| |
$
|
(4
|
)
| |
$
|
(58
|
)
| |
$
|
1
|
|
| | | | | | | |
| Net income (loss) per common share-basic and diluted |
$
|
(0.01
|
)
| |
$
|
(0.01
|
)
| |
$
|
(0.01
|
)
| |
$
|
0.01
|
|
| | | | | | | |
| 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/20251112892120/en/
Contacts:
New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
Source: New Concept Energy, Inc.
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