NYSE: GBR
New Concept Energy, Inc.CIK 0000105744 · SIC 1311 · Crude Petroleum & Natural Gas
New Concept Energy, Inc. (“New Concept,” “NCE” or the “Company” or “we” or “us”) was incorporated in Nevada on May 31, 1991, under the name Medical Resource Companies of America, Inc. The Company is the successor-by-merger to Wespac Investors Trust, a California business trust that began operating… About this business →
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Latest financial statements
From 10-Q filed Aug 10, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(amounts in thousands, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | ||||
| Rent | 26 | 26 | 52 | 52 |
| Management fee | 15 | 14 | 28 | 26 |
| Total revenues | 41 | 40 | 80 | 78 |
| Operating expenses | ||||
| Operating expenses | 13 | 15 | 26 | 27 |
| Corporate general and administrative | 129 | 85 | 206 | 174 |
| Total operating expenses | 142 | 100 | 232 | 201 |
| Loss from operations | (101) | (60) | (152) | (123) |
| Other income | ||||
| Interest income ($35 and $42 for the three months eneded June 30, 2026 and 2025, respectively, and $72 and $85 for the six months ended June 30, 2026 and 2025, respectively) | 35 | 42 | 72 | 85 |
| Total other income | 35 | 42 | 72 | 85 |
| Net income (loss) applicable to common shares | (66) | (18) | (80) | (38) |
| Net income (loss) per common share-basic and diluted | (0.01) | (0.00) | (0.02) | (0.00) |
| Weighted average common and equivalent shares outstanding basic and diluted | 5,132 | 5,132 | 5,132 | 5,132 |
Condensed Consolidated Balance Sheets
(amounts in thousands)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 304 | 383 |
| Other current assets | 65 | 13 |
| Total current assets | 369 | 396 |
| Property and equipment, net of depreciation | ||
| Land, buildings and equipment | 616 | 622 |
| Note and interest receivable - related party | ||
| Note receivable | 3,542 | 3,542 |
| Interest receivable | - | - |
| Note and interest receivable related party | 3,542 | 3,542 |
| Total assets | 4,527 | 4,560 |
| Liabilities and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable (including $8 due to related parties in 2026 and 2025) | 47 | 26 |
| Accrued expenses | 69 | 43 |
| Total current liabilities | 116 | 69 |
| Stockholders' equity | ||
| Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and outstanding at June 30, 2026 and December 31, 2025 | 1 | 1 |
| Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at June 30, 2026 and December 31, 2025 | 51 | 51 |
| Additional paid-in capital | 63,579 | 63,579 |
| Accumulated deficit | (59,220) | (59,140) |
| Total stockholders' equity | 4,411 | 4,491 |
| Total liabilities and stockholders' equity | 4,527 | 4,560 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(amounts in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | (80) | (38) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | ||
| Depreciation, depletion and amortization | 6 | 7 |
| Changes in assets and liabilities: | ||
| Interest receivable | - | (44) |
| Other current assets | (52) | 38 |
| Accounts payable and other liabilities | 47 | 30 |
| Net cash (used) in operating activities | (79) | (7) |
| Net (decrease) in cash and cash equivalents | (79) | (7) |
| Cash and cash equivalents at beginning of year | 383 | 363 |
| Cash and cash equivalents at end of period | 304 | 356 |
| Cash paid for interest | - | - |
| Cash received for interest | 72 | 85 |
Amounts as printed on the EDGAR/iXBRL face — (amounts in thousands, except per share amounts); (amounts in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About New Concept Energy, Inc.
Source: Item 1 (Business) from the 10-K filed March 31, 2026. Description as filed by the company with the SEC.
Item 1. Business
New Concept Energy, Inc. (“New Concept,”
“NCE” or the “Company” or “we” or “us”) was incorporated in Nevada on May 31, 1991, under
the name Medical Resource Companies of America, Inc. The Company is the successor-by-merger to Wespac Investors Trust, a California business
trust that began operating in 1982. On March 26, 1996, the name was changed to Greenbriar Corporation. On February 8, 2005, the name of
the Company was changed to CabelTel International Corporation. On May 21, 2008, the name of the company was changed to New Concept Energy,
Inc.
Real Estate Operations
The Company owns approximately 190 acres of land located
in Parkersburg, West Virginia. Located on the land are four structures totaling approximately 53,000 square feet. Of this total area the
main industrial / office building contains approximately 24,800 square feet of which as of December 31, 2025 approximately 16,000 square
feet is leased for $103,000 per annum.
Oil and Gas Operations
In August 2020, the Company sold its oil and gas wells and mineral
leases which were located in Ohio and West Virginia.
Effective 1/1/2022 the Company entered into a Consulting Management
Agreement with the current owner of the oil and gas wells whereby the Company will receive 10% of the revenue received from these wells
in exchange for providing advisory, accounting and management services. The agreement can be terminated by either party after providing
60 days’ notice to the other party.
Business Strategy
Read full description ↓
The Company is a Nevada corporation.
The Company intends to continue to operate and or sell its West
Virginia property. The Company provides advisory and management services to an independent West Virginia oil and gas company The Company
seeks to establish or acquire new business operations.
Insurance
The Company currently maintains property and liability insurance
intended to cover claims for its real estate and corporate operations.
Employees
At December 31, 2025, the Company employed 2 people with the
remainder of the work contracted to third parties. The Company believes it maintains good relationships with its employees. None of the
Company’s employees are represented by a collective bargaining group.
Management is not aware of any non-compliance by the Company
as regards applicable regulatory requirements that would have a material adverse effect on the Company’s financial condition or
results of operations.
4
Available Information
The Company maintains an internet website at www.newconceptenergy.com.
The Company has available through the website, free of charge, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports
on Form 8-K, reports filed pursuant to Section 16 of the Securities Exchange Act of 1934 (the “Exchange Act”) and amendments
to those reports as soon as reasonably practicable after we electronically file or furnish such materials to the Securities and Exchange
Commission. In addition, the Company has posted the charters for our Audit Committee, Compensation Committee and Governance
and Nominating Committee, as well as our Code of Business Conduct and Ethics, Corporate Governance Guidelines on Director Independence
and other information on the website. These charters and principles are not incorporated in this Report by reference. The Company will
also provide a copy of these documents free of charge to stockholders upon request. The Company issues Annual Reports containing audited
financial statements to its common stockholders.