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New Concept Energy, Inc. Reports Second Quarter 2025 Results

via Business Wire

New Concept Energy, Inc. (NYSE American: 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

 

 

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