Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries New Concept Energy, Inc. Reports Second Quarter 2022 Results By: New Concept Energy, Inc. via Business Wire August 10, 2022 at 16:30 PM EDT 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, 2022. During the three months ended June 30, 2022, the Company reported net income of $137,000 compared to net income of $49,000 for the three months ended June 30, 2021. For the three months ended June 30, 2022 the Company had revenue of $47,000 including $26,000 for rental income and $21,000 for management fees as compared to rental income of $26,000 for the comparable period in 2021. For the three months ended June 30, 2022, corporate general & administrative expenses were $80,000 as compared to $111,000 for the comparable periods in 2021. The decrease was due to an overall reduction of administrative expenses. Included in other income for the three months ended June 30, 2022 is $62,000 which represents the collection of an investment that had previously been fully reserved. In addition during the three months ended June 30, 2022 the company sold equipment and recorded a gain of $68,000. 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 SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (amounts in thousands) June 30, 2022 December 31, 2021 (Unaudited) (Audited) Assets Current assets Cash and cash equivalents $ 372 $ 252 Note receivable - related party 3,542 3,560 Other current assets 43 - Total current assets $ 3,957 $ 3,812 Property and equipment, net of depreciation Land, buildings and equipment 637 643 Total assets $ 4,594 $ 4,455 NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (dollars in thousands, except par value amount) June 30, 2022 December 31, 2021 Liabilities and stockholders' equity Current liabilities Accounts payable $ 19 $ 28 Accrued expenses 37 32 Total current liabilities 56 60 Stockholders' equity Preferred stock, Series B 1 1 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at June 30, 2022 and December 31, 2021 51 51 Additional paid-in capital 63,579 63,579 Accumulated deficit (59,093 ) (59,236 ) Total shareholder equity 4,538 4,395 Total liabilities & equity $ 4,594 $ 4,455 NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data) For the Three Months ended June 30, For the Six Months ended June 30, 2022 2021 2022 2021 Revenue Rent $ 26 $ 26 $ 51 $ 52 Management Fee 21 - 41 $ - Total Revenues 47 26 92 52 Operating expenses Operating Expenses 13 20 25 38 Corporate general and administrative 80 111 160 185 Total Operating Expenses 93 131 185 223 Operating earnings (loss) (46 ) (105 ) (93 ) (223 ) Other income (expense) Interest income 53 56 106 112 Interest expense - (2 ) - (4 ) Other income, net 130 100 130 191 183 154 236 299 Net income (loss) applicable to common shares 137 49 143 128 Net income per common share-basic and diluted $ 0.02 $ 0.01 $ 0.03 $ 0.02 Weighted average common and equivalent shares outstanding - basic 5,132 5,132 5,132 5,132 View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005620/en/Contacts New Concept Energy, Inc. Gene Bertcher, (800) 400-6407 info@newconceptenergy.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
New Concept Energy, Inc. Reports Second Quarter 2022 Results By: New Concept Energy, Inc. via Business Wire August 10, 2022 at 16:30 PM EDT 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, 2022. During the three months ended June 30, 2022, the Company reported net income of $137,000 compared to net income of $49,000 for the three months ended June 30, 2021. For the three months ended June 30, 2022 the Company had revenue of $47,000 including $26,000 for rental income and $21,000 for management fees as compared to rental income of $26,000 for the comparable period in 2021. For the three months ended June 30, 2022, corporate general & administrative expenses were $80,000 as compared to $111,000 for the comparable periods in 2021. The decrease was due to an overall reduction of administrative expenses. Included in other income for the three months ended June 30, 2022 is $62,000 which represents the collection of an investment that had previously been fully reserved. In addition during the three months ended June 30, 2022 the company sold equipment and recorded a gain of $68,000. 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 SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (amounts in thousands) June 30, 2022 December 31, 2021 (Unaudited) (Audited) Assets Current assets Cash and cash equivalents $ 372 $ 252 Note receivable - related party 3,542 3,560 Other current assets 43 - Total current assets $ 3,957 $ 3,812 Property and equipment, net of depreciation Land, buildings and equipment 637 643 Total assets $ 4,594 $ 4,455 NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (dollars in thousands, except par value amount) June 30, 2022 December 31, 2021 Liabilities and stockholders' equity Current liabilities Accounts payable $ 19 $ 28 Accrued expenses 37 32 Total current liabilities 56 60 Stockholders' equity Preferred stock, Series B 1 1 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at June 30, 2022 and December 31, 2021 51 51 Additional paid-in capital 63,579 63,579 Accumulated deficit (59,093 ) (59,236 ) Total shareholder equity 4,538 4,395 Total liabilities & equity $ 4,594 $ 4,455 NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data) For the Three Months ended June 30, For the Six Months ended June 30, 2022 2021 2022 2021 Revenue Rent $ 26 $ 26 $ 51 $ 52 Management Fee 21 - 41 $ - Total Revenues 47 26 92 52 Operating expenses Operating Expenses 13 20 25 38 Corporate general and administrative 80 111 160 185 Total Operating Expenses 93 131 185 223 Operating earnings (loss) (46 ) (105 ) (93 ) (223 ) Other income (expense) Interest income 53 56 106 112 Interest expense - (2 ) - (4 ) Other income, net 130 100 130 191 183 154 236 299 Net income (loss) applicable to common shares 137 49 143 128 Net income per common share-basic and diluted $ 0.02 $ 0.01 $ 0.03 $ 0.02 Weighted average common and equivalent shares outstanding - basic 5,132 5,132 5,132 5,132 View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005620/en/Contacts New Concept Energy, Inc. Gene Bertcher, (800) 400-6407 info@newconceptenergy.com
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, 2022. During the three months ended June 30, 2022, the Company reported net income of $137,000 compared to net income of $49,000 for the three months ended June 30, 2021. For the three months ended June 30, 2022 the Company had revenue of $47,000 including $26,000 for rental income and $21,000 for management fees as compared to rental income of $26,000 for the comparable period in 2021. For the three months ended June 30, 2022, corporate general & administrative expenses were $80,000 as compared to $111,000 for the comparable periods in 2021. The decrease was due to an overall reduction of administrative expenses. Included in other income for the three months ended June 30, 2022 is $62,000 which represents the collection of an investment that had previously been fully reserved. In addition during the three months ended June 30, 2022 the company sold equipment and recorded a gain of $68,000. 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 SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (amounts in thousands) June 30, 2022 December 31, 2021 (Unaudited) (Audited) Assets Current assets Cash and cash equivalents $ 372 $ 252 Note receivable - related party 3,542 3,560 Other current assets 43 - Total current assets $ 3,957 $ 3,812 Property and equipment, net of depreciation Land, buildings and equipment 637 643 Total assets $ 4,594 $ 4,455 NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - CONTINUED (unaudited) (dollars in thousands, except par value amount) June 30, 2022 December 31, 2021 Liabilities and stockholders' equity Current liabilities Accounts payable $ 19 $ 28 Accrued expenses 37 32 Total current liabilities 56 60 Stockholders' equity Preferred stock, Series B 1 1 Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at June 30, 2022 and December 31, 2021 51 51 Additional paid-in capital 63,579 63,579 Accumulated deficit (59,093 ) (59,236 ) Total shareholder equity 4,538 4,395 Total liabilities & equity $ 4,594 $ 4,455 NEW CONCEPT ENERGY, INC AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (amounts in thousands, except per share data) For the Three Months ended June 30, For the Six Months ended June 30, 2022 2021 2022 2021 Revenue Rent $ 26 $ 26 $ 51 $ 52 Management Fee 21 - 41 $ - Total Revenues 47 26 92 52 Operating expenses Operating Expenses 13 20 25 38 Corporate general and administrative 80 111 160 185 Total Operating Expenses 93 131 185 223 Operating earnings (loss) (46 ) (105 ) (93 ) (223 ) Other income (expense) Interest income 53 56 106 112 Interest expense - (2 ) - (4 ) Other income, net 130 100 130 191 183 154 236 299 Net income (loss) applicable to common shares 137 49 143 128 Net income per common share-basic and diluted $ 0.02 $ 0.01 $ 0.03 $ 0.02 Weighted average common and equivalent shares outstanding - basic 5,132 5,132 5,132 5,132 View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005620/en/