|
|
|
|
|||||
|
|
|
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 second quarter ended June 30, 2026.
The Company reported a net loss from continuing operations of ($66,000) for three months ended June 30, 2026, as compared to a net loss of ($18,000) for the similar period in 2025.
For the three months ended June 30, 2026 the Company had revenue of $41,000 including $26,000 for rental income and $15,000 in management fees. 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, 2026, corporate general & administrative expenses were $129,000 as compared to $85,000 for the comparable period in 2025.
For the three months ended June 30, 2026, interest income was $35,000 as compared to $42,000 for the comparable period in 2025.
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, 2026 |
December 31, 2025 |
|||||
| (Unaudited) | (Audited) | |||||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 304 | $ | 383 | ||
| Other current assets |
| 65 |
| 13 | ||
| Total current assets |
| 369 |
| 396 | ||
| Property and equipment, net of depreciation | ||||||
| Land, buildings and equipment |
| 616 |
| 622 | ||
| Note and interest receivable - related party | ||||||
| Note receivable |
| 3,542 |
| 3,542 | ||
| Interest receivable |
| - |
| - | ||
| 3,542 |
| 3,542 | |||
| Total assets | $ | 4,527 | $ | 4,560 | ||
| NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED | |||||||
| (amounts in thousands, except share and par value amount) | |||||||
| June 30, 2026 |
December 31, 2025 |
||||||
| (Unaudited) | (Audited) | ||||||
| Liabilities and stockholders' equity | |||||||
| Current liabilities | |||||||
| Accounts payable (including $8 due to related parties in 2026 and 2025) | $ | 47 |
| $ | 26 |
| |
| Accrued expenses |
| 69 |
|
| 43 |
| |
| Total current liabilities |
| 116 |
|
| 69 |
| |
| Stockholders' equity | |||||||
| Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and |
| 1 |
|
| 1 |
| |
| outstanding at June 30, 2026 and December 31, 2025 | |||||||
| Common stock, $.01 par value; authorized, 100,000,000 | |||||||
| shares; issued and outstanding, 5,131,934 shares | |||||||
| at June 30, 2026 and December 31, 2025 |
| 51 |
|
| 51 |
| |
| Additional paid-in capital |
| 63,579 |
|
| 63,579 |
| |
| Accumulated deficit |
| (59,220 | ) |
| (59,140 | ) | |
| Total stockholders' equity |
| 4,411 |
|
| 4,491 |
| |
| Total liabilities and stockholders' equity | $ | 4,527 |
| $ | 4,560 |
| |
| NEW CONCEPT ENERGY, INC. AND SUBSIDIARY | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (Unaudited) | |||||||||||||||
| (amounts in thousands, except per share amounts) | |||||||||||||||
For the Three Months
|
|
For the Six Months
| |||||||||||||
|
|
|
|
|
|
| |||||||||
| 2026 |
|
|
| 2025 |
|
|
| 2026 |
|
|
| 2025 |
| |
| Revenue | |||||||||||||||
| Rent | $ | 26 |
| $ | 26 |
| $ | 52 |
| $ | 52 |
| |||
| Management fee |
| 15 |
|
| 14 |
|
| 28 |
|
| 26 |
| |||
| Total revenues |
| 41 |
|
| 40 |
|
| 80 |
|
| 78 |
| |||
| Operating expenses | |||||||||||||||
| Operating expenses |
| 13 |
|
| 15 |
|
| 26 |
|
| 27 |
| |||
| Corporate general and administrative |
| 129 |
|
| 85 |
|
| 206 |
|
| 174 |
| |||
| Total operating expenses |
| 142 |
|
| 100 |
|
| 232 |
|
| 201 |
| |||
| Loss from operations |
| (101 | ) |
| (60 | ) |
| (152 | ) |
| (123 | ) | |||
| Other income | |||||||||||||||
| Interest income ($35 and $42 for the three months ended June 30, 2026 and 2025, respectively, and $72 and $85 for the six months ended June 30, 2026 and 2025, respectively) |
| 35 |
|
| 42 |
|
| 72 |
|
| 85 |
| |||
| Total other income |
| 35 |
|
| 42 |
|
| 72 |
|
| 85 |
| |||
| Net income (loss) applicable to common shares | $ | (66 | ) | $ | (18 | ) | $ | (80 | ) | $ | (38 | ) | |||
| Net income (loss) per common share-basic and diluted | $ | (0.01 | ) | $ | (0.00 | ) | $ | (0.02 | ) | $ | (0.00 | ) | |||
| Weighted average common and equivalent shares outstanding - basic and diluted |
| 5,132 |
|
| 5,132 |
|
| 5,132 |
|
| 5,132 |
| |||
New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
| 1 hour | |
| May-07 | |
| Mar-31 | |
| Mar-06 | |
| Aug-12 | |
| May-15 | |
| Mar-20 | |
| Nov-13 | |
| Aug-14 | |
| May-09 | |
| Apr-01 | |
| Nov-09 | |
| Aug-07 | |
| Jul-04 | |
| May-10 |
Join thousands of traders who make more informed decisions with our premium features. Real-time quotes, advanced visualizations, alerts, and much more.
Learn more about Finviz Elite