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 |
|
|
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