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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act

 

 

Date of Report (Date of earliest event reported):        May 15, 2025

 

NEW CONCEPT ENERGY, INC.
(Exact Name of Registrant as Specified in its Charter)

 

Nevada

000-08187

75-2399477

(State or other jurisdiction of incorporation) (Commission File No.) (I.R.S. Employer Identification No.)
     

1603 LBJ Freeway, Suite 800

Dallas, Texas

 

75234

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code        972-407-8400

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

Trading

Symbol

Name of Each Exchange on which Registered

Common Stock, par value $0.01

GBR

NYSE American

 

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ('230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ('240.12b-2 of this chapter).

  Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.       ¨

 

 

   

 

Section 2 – Financial Information

 

Item 2.02. Results of Operations and Financial Condition

 

On May 15, 2025, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended March 31, 2025. A copy of the announcement is attached as Exhibit “99.1.”

 

The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

 

Section 9 – Financial Statements and Exhibits

 

Item 9.01. Financial Statements and Exhibits

 

(d)       Exhibits.

 

The following exhibit is furnished with this Report:

 

Exhibit

Designation

 

Description of Exhibit

     
99.1*   Press Release, dated May 15, 2025

 

 

_________________________

* Furnished herewith

 

  2  

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized.

 

Dated: May 16, 2025

 

  NEW CONCEPT ENERGY, INC.
   
     
  By: /s/Gene S. Bertcher
    Gene S. Bertcher, President and Chief Executive and Financial Officer

 

 

3

 

 

 

EX-99.1 3 ex99_1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE

 

Contact:

 

New Concept Energy Inc.

Investor Relations

Gene Bertcher, (800) 400-6407

info@newconceptenergy.com

 

 

 

 

 

New Concept Energy, Inc. Reports First Quarter 2025 Results

 

 

 

Dallas (May 15, 2025) – 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, 2025.

 

The Company reported a net loss from continuing operations of ($20,000) for three months ended March 31, 2025, as compared to net income of $2,000 for the similar period in 2024.

 

For the three months ended March 31,2025 and 2024 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, 2025, corporate general & administrative expenses were $89,000 as compared to $78,000 for the comparable period in 2024. 

 

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.

 

Contact: New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407

info@newconceptenergy.com

 

   

 

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

(amounts in thousands)

 

    March 31,
2025
    December 31,
2024
 
Assets                
Current assets                
Cash and cash equivalents   $ 333     $ 363  
Other current assets     57       9  
Total current assets     390       372  
                 
Property and equipment, net of depreciation                
Land, buildings and equipment     633       636  
                 
Note and Interest Receivable - related party                
Note receivable     3,542       3,542  
Interest receivable     -       44  
      3,542       3,586  
                 
                 
Total assets   $ 4,565     $ 4,594  

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

   

 

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS – CONTINUED

(dollars in thousands, except par value amount)

 

    March 31,
2025
    December 31,
2024
 
      (Unaudited)       (Audited)  
Liabilities and stockholders' equity                
                 
Current liabilities                
Accounts payable (including $8 due to related parties in 2025 and 2024)   $ 20     $ 20  
Accrued expenses     28       37  
Total current liabilities     48       57  
                 
                 
Stockholders' equity                
Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and            
outstanding at March 31, 2025 and December 31, 2024     1       1  
Common stock, $.01 par value; authorized, 100,000,000                
shares; issued and outstanding,  5,131,934  shares                
at March 31, 2025 and December 31, 2024     51       51  
Additional paid-in capital     63,579       63,579  
Accumulated deficit     (59,114 )     (59,094 )
                 
Total shareholders' equity     4,517       4,537  
                 
Total liabilities & equity   $ 4,565     $ 4,594  

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

   

 

NEW CONCEPT ENERGY, INC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(amounts in thousands, except per share data)

 

    Three Months ended
March 31,
 
    2025     2024  
Revenue            
Rent   $ 26     $ 25  
Management fees     12       11  
Total Revenues     38       36  
                 
Operating Expenses                
Operating expenses     12       13  
Corporate general and administrative     89       78  
Total Operating Expenses     101       91  
Loss from operations     (63 )     (55 )
                 
Other Income                
Interest income ($39 and $53 from related parties in 2025 and 2024)     43       57  
Total Other Income     43       57  
                 
 Net income (loss) applicable to common shares   $ (20 )   $ 2  
                 
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  

 

The accompanying notes are an integral part of these condensed consolidated financial statements.