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 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
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20260507186152/en/
Contacts:
New Concept Energy, Inc.
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
Source: New Concept Energy, Inc.
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