GBR 8-K
New Concept Energy, Inc. (GBR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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).
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Section 2 – Financial Information Statements
Item 2.02. Results of Operations and Financial Condition.
On March 31, 2026, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended December 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 99.2 Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is furnished with this Report:
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Exhibit
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Description | |
| 99.1* | Press Release, dated March 31, 2026 |
_________________________
* Furnished herewith
Dated: April 6, 2026.
| NEW CONCEPT ENERGY, INC. | ||
| By: | /s/ Gene S. Bertcher | |
| Gene S. Bertcher, President, Chief | ||
| Executive and Financial | ||
| Officer | ||
Exhibit 99.1
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NEWS RELEASE
FOR IMMEDIATE RELEASE
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Contact:
New Concept Energy Inc. Gene Bertcher (800) 400-6407
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New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2025 Results
Dallas (March 31, 2026) New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2025.
During the three months ended December 31,2025 the Company reported net income of $12,000 compared to a net loss of $19,000 for the same period ended December 31, 2024.
For the full year ended December 31, 2025 the Company reported a net loss of $46,000 compared to a net loss of $18,000 for the same period ended December 31, 2043.
Fiscal 2025 as compared to 2024
Revenues: Revenues from rent for the leased property was $103,000 in 2025 and $101,000 in 2024. Revenues from managing the oil and gas operations for a third party was $52,000 and $45,000 in 2025 and 2024. The management agreement has the Company receiving a management fee of 10% of oil and gas revenue. The increase in management fees is due to an increase in revenue due to an increase in oil and gas prices.
Operating Expenses: Operating expenses for the real estate property was $56,000 in 2025 and $48,000 in 2024. General and administrative expenses were $364,000 in 2025 and $335,000 in 2024.
Interest Income: Interest Income was $169,000 in 2025 and $213,000 in 2024. The note receivable has a variable interest rate and in 2025 the interest rate was lower.
Other Income: In the fourth quarter of 2025 the Company collected $50,000 for an old note receivable that had been previously fully reserved.
About New Concept Energy, Inc.
New Concept Energy, Inc. is a Dallas-based company which owns 191 acres of land located in Parkersburg, West Virginia. Located on the land are four structures totaling approximately 53,000 square feet. For more information, visit the Company’s website at www.newconceptenergy.com.
Contact:
New Concept Energy, Inc.
Gene Bertcher, (800) 400-6407
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(amounts in thousands)
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 383 | $ | 363 | ||||
| Other current assets | 13 | 9 | ||||||
| Total current assets | 396 | 372 | ||||||
| Property and equipment, net | ||||||||
| Land, buildings and equipment | 622 | 636 | ||||||
| Note and interest receivable | ||||||||
| Note receivable | 3,542 | 3,542 | ||||||
| Interest receivable | - | 44 | ||||||
| 3,542 | 3,586 | |||||||
| Total assets | $ | 4,560 | $ | 4,594 | ||||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS - CONTINUED
(amounts in thousands, except share amounts)
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Liabilities and stockholders' equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable - trade (including $6 in 2025 and $7 in 2024 due to Pillar) | $ | 26 | $ | 20 | ||||
| Accrued expenses | 43 | 37 | ||||||
| Total current liabilities | 69 | 57 | ||||||
| Stockholders' equity | ||||||||
| Series B convertible preferred stock, $10 par value, authorized 100,000 shares, issued and outstanding one share | 1 | 1 | ||||||
| Common stock, $.01 par value; authorized 100,000,000 shares; issued and outstanding, 5,131,934 shares at December 31, 2025 and 2024 | 51 | 51 | ||||||
| Additional paid-in capital | 63,579 | 63,579 | ||||||
| Accumulated deficit | (59,140 | ) | (59,094 | ) | ||||
| Total stockholdrs' equity | 4,491 | 4,537 | ||||||
| Total liabilities & stockholders' equity | $ | 4,560 | $ | 4,594 | ||||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share data)
| Year Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenue | ||||||||
| Rent | $ | 103 | $ | 101 | ||||
| Management fee | 52 | 45 | ||||||
| Total Revenues | 155 | 146 | ||||||
| Operatingf expenses | ||||||||
| Operating expenses | 56 | 48 | ||||||
| Corporate general and administrative | 364 | 335 | ||||||
| Total operating expenses | 420 | 383 | ||||||
| Loss from operations | (265 | ) | (237 | ) | ||||
| Other income | ||||||||
| Interest income | 169 | 213 | ||||||
| Other income | 50 | 6 | ||||||
| Total other income | 219 | 219 | ||||||
| Net loss applicable to common shares | $ | (46 | ) | $ | (18 | ) | ||
| Net 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 | ||||||