New Concept Energy, Inc. Reports Second Quarter 2025 Results | GBR Stock News
New Concept Energy, Inc. (NYSE American: GBR) reported a net loss of $18,000 for Q2 2025, compared to a net income of $3,000 in Q2 2024. Revenue increased to $40,000, driven by rental income of $26,000 and management fees of $14,000. General and administrative expenses rose to $85,000 from $78,000 year-over-year. Interest income decreased to $42,000 from $56,000. Total assets stood at $4,574,000, with stockholders' equity at $4,499,000 as of June 30, 2025.
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, 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 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250812919603/en/
New Concept Energy, Inc.
Investor Relations
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
Source: New Concept Energy, Inc.
