New Concept Energy, Inc. Reports First Quarter 2025 Results
The Company reported a net loss from continuing operations of (
For the three months ended March 31,2025 and 2024 the Company had revenue of
For the three months ended March 31, 2025, corporate general & administrative expenses were
About New Concept Energy, Inc.
New Concept Energy, Inc. is a
NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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(unaudited) |
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(amounts in thousands) |
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听 |
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听 |
March 31,
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December 31,
|
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| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ |
333 |
$ |
363 |
|||
| Other current assets | 听 |
57 |
听 |
听 |
9 |
听 |
|
| Total current assets | 听 |
390 |
听 |
听 |
372 |
听 |
|
| 听 | |||||||
| Property and equipment, net of depreciation | |||||||
| Land, buildings and equipment | 听 |
633 |
听 |
听 |
636 |
听 |
|
| 听 | |||||||
| Note and Interest Receivable - related party | |||||||
| Note receivable | 听 |
3,542 |
听 |
听 |
3,542 |
听 |
|
| Interest receivable | 听 |
- |
听 |
听 |
44 |
听 |
|
听 |
3,542 |
听 |
听 |
3,586 |
听 |
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| 听 | |||||||
| 听 | |||||||
| Total assets | $ |
4,565 |
听 |
$ |
4,594 |
听 |
|
NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES |
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CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED |
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(dollars in thousands, except par value amount) |
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听 |
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听 |
听 |
听 |
听 |
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听 |
March 31,
|
听 |
December 31,
|
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(Unaudited) |
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(Audited) |
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| Liabilities and stockholders' equity | |||||||
| 听 | |||||||
| Current liabilities | |||||||
| Accounts payable (including |
$ |
20 |
听 |
$ |
20 |
听 |
|
| Accrued expenses | 听 |
28 |
听 |
听 |
37 |
听 |
|
| Total current liabilities | 听 |
48 |
听 |
听 |
57 |
听 |
|
| 听 | |||||||
| 听 | |||||||
| Stockholders' equity | |||||||
| Preferred stock, Series B, |
听 |
1 |
听 |
听 |
1 |
听 |
|
| outstanding at March 31, 2025 and December 31, 2024 | 听 | ||||||
| Common stock, |
听 | ||||||
| shares; issued and outstanding, 5,131,934 shares | 听 | ||||||
| at March 31, 2025 and December 31, 2024 | 听 |
51 |
听 |
听 |
51 |
听 |
|
| Additional paid-in capital | 听 |
63,579 |
听 |
听 |
63,579 |
听 |
|
| Accumulated deficit | 听 |
(59,114 |
) |
听 |
(59,094 |
) |
|
| 听 | |||||||
| Total shareholders' equity | 听 |
4,517 |
听 |
听 |
4,537 |
听 |
|
| 听 | |||||||
| Total liabilities & equity | $ |
4,565 |
听 |
$ |
4,594 |
听 |
|
NEW CONCEPT ENERGY, INC AND SUBSIDIARIES |
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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(unaudited) |
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(amounts in thousands, except per share data) |
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听 |
听 |
听 |
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Three Months ended March 31, |
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2025 |
听 |
听 |
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2024 |
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| Revenue | |||||||
| Rent | $ |
26 |
听 |
$ |
25 |
听 |
|
| Management fees | 听 |
12 |
听 |
听 |
11 |
听 |
|
| Total Revenues | 听 |
38 |
听 |
听 |
36 |
听 |
|
| 听 | |||||||
| Operating Expenses | |||||||
| Operating expenses | 听 |
12 |
听 |
听 |
13 |
听 |
|
| Corporate general and administrative | 听 |
89 |
听 |
听 |
78 |
听 |
|
| Total Operating Expenses | 听 |
101 |
听 |
听 |
91 |
听 |
|
| Loss from operations | 听 |
(63 |
) |
听 |
(55 |
) |
|
| 听 | |||||||
| Other Income | |||||||
| Interest income ( |
听 |
43 |
听 |
听 |
57 |
听 |
|
| Total Other Income | 听 |
43 |
听 |
听 |
57 |
听 |
|
| 听 | |||||||
| Net income (loss) applicable to common shares | $ |
(20 |
) |
$ |
2 |
听 |
|
| 听 | |||||||
| Net income (loss) per common share-basic and diluted | $ |
(0.01 |
) |
$ |
0.01 |
听 |
|
| 听 | |||||||
| Weighted average common and equivalent shares outstanding - basic and diluted | 听 |
5,132 |
听 |
听 |
5,132 |
听 |
|
听
View source version on businesswire.com:
New Concept Energy, Inc.
Gene Bertcher, (800) 400-6407
[email protected]
Source: New Concept Energy, Inc.
