Welcome to our dedicated page for New Concep news (Ticker: GBR), a resource for investors and traders seeking the latest updates and insights on New Concep stock.
New Concept Energy, Inc. (NYSE American: GBR) is a Dallas-based company that owns real estate in West Virginia and provides management services for a third-party oil and gas company. Its news flow is centered on periodic financial updates that detail rent from its West Virginia property, management fee revenue from oil and gas operations, and interest income from a related-party note receivable.
On this page, readers can follow GBR news such as quarterly earnings releases, full-year results, and related announcements that the company also reports in its Form 8-K filings. These updates typically include information on rental income, management fees tied to oil and gas revenue, operating expenses for the real estate property, corporate general and administrative costs, and interest income.
New Concept Energy’s releases often explain changes in management fee revenue by referencing movements in oil and gas prices and the resulting revenue from the managed operations. Annual results discuss performance over the full year, including rent from the leased property, management fees under the oil and gas management agreement, operating expenses, and other income items.
Investors and followers of GBR can use this news feed to review how the company’s rental and management activities, as well as interest income from a related-party note, contribute to net income or loss each period. Regularly checking this page provides a consolidated view of the company’s publicly released financial information and related corporate updates.
Summary not available.
Summary not available.
New Concept Energy, Inc. (NYSE American: GBR) reported a net income of $11,000 for Q4 2022, a turnaround from a net loss of $49,000 in Q4 2021. For the full year, net income rose to $181,000 from $70,000 in 2021. Total revenues remained stable at $101,000 for property rentals, while management fees generated $111,000. Operating expenses decreased to $374,000 in 2022 from $437,000 the previous year. Interest income slightly declined to $212,000, and other income fell to $131,000, impacted by prior year gains. As of December 31, 2022, total assets were $4,639,000, with an accumulated deficit of $59,055,000.
New Concept Energy, Inc. (NYSE American: GBR) reported a net income of $27,000 for Q3 2022, reversing a net loss of $8,000 in Q3 2021. Revenue for the quarter rose to $63,000, driven by $25,000 in rental income and $38,000 in management fees. Interest income remained stable at $53,000. The company's total assets increased to $4,622,000 from $4,455,000 year-over-year, while total current liabilities decreased slightly to $57,000.
New Concept Energy, Inc. (NYSE American: GBR) reported a net income of $137,000 for Q2 2022, up from $49,000 in Q2 2021. Revenue for the quarter totaled $47,000, driven by $26,000 in rental income and $21,000 in management fees. Corporate general and administrative expenses decreased to $80,000 from $111,000 year-over-year, reflecting reduced administrative costs. Additionally, the company recorded $130,000 in other income, including a $68,000 gain from equipment sales. Total assets increased to $4,594,000 as of June 30, 2022.
New Concept Energy, Inc. (GBR) reported its financial results for Q1 2022, posting a net income of $5,000, down from $79,000 in Q1 2021. The company generated revenue of $45,000, primarily from rental income ($25,000) and management fees ($20,000). Current assets increased to $3.9 million, while current liabilities rose to $96,000. Despite showing improvement from a net loss of $34,000 in Q1 2020, the overall performance indicates challenges in revenue generation and operational efficiency.
New Concept Energy, Inc. (NYSE American: GBR) reported its fourth quarter and full-year results for 2021. The Company posted a net loss of $49,000 for Q4, a decrease from a loss of $32,000 in Q4 2020. However, it achieved a net income of $70,000 for the full year, contrasting with a loss of $52,000 in 2020. Revenues remained stable at $101,000, while interest income decreased to $220,000. The Company recorded a gain of $1.968 million from the sale of its oil and gas operation in 2020, contributing to its financial results. Overall, the Company demonstrated improved financial performance year-over-year.
New Concept Energy, Inc. (NYSE American: GBR) reported a net loss of $8,000 for Q3 2021, a stark contrast to a net income of $82,000 in Q3 2020. Rental revenue remained stable at $25,000 for both periods. Although corporate general and administrative expenses decreased to $53,000 from $65,000, the absence of other income and a previous gain of $2,100,000 from discontinued operations significantly impacted the results. As of September 30, 2021, total assets were $4,530,000 with total liabilities at $85,000.
New Concept Energy, Inc. (NYSE American: GBR) reported a net income of $49,000 for the second quarter ended June 30, 2021, recovering from a net loss of $57,000 in the same period of 2020. The company recorded earnings of $0.01 per share compared to a loss of $0.03 per share a year earlier. Total revenues remained stable at $26,000. Corporate general and administrative expenses decreased to $111,000 from $127,000 in 2020. Additionally, the company generated $100,000 in other income from the sale of a previously reserved receivable.
New Concept Energy, Inc. (NYSE American: GBR) reported a net income applicable to common shares of ($79,000) for the first quarter of 2021, compared to a net loss of ($34,000) in Q1 2020. The company achieved net income from continuing operations of $79,000, reversing the net loss from the prior year. Corporate general & administrative expenses decreased from $104,000 in 2020 to $74,000 in 2021, attributed primarily to the absence of consulting fees. Additionally, a tax refund of $91,000 was recorded, while rental revenue remained unchanged at $26,000.