Financial Performance - For Q1 2025, New Concept Energy reported a net loss of $20,000, compared to a net income of $2,000 in Q1 2024, indicating a significant decline in profitability [2]. - Total revenue for Q1 2025 was $38,000, which is a 5.56% increase from $36,000 in Q1 2024, driven by rental income of $26,000 and management fees of $12,000 [3][10]. - The company reported a loss from operations of $63,000 in Q1 2025, compared to a loss of $55,000 in Q1 2024, reflecting a worsening operational performance [10]. - Interest income for Q1 2025 was $43,000, down from $57,000 in Q1 2024, representing a decline of 24.56% [10]. - The net loss per common share for Q1 2025 was $(0.01), compared to a net income per share of $0.01 in Q1 2024 [10]. Expenses and Liabilities - Corporate general and administrative expenses rose to $89,000 in Q1 2025, up from $78,000 in Q1 2024, reflecting a 14.1% increase [3][10]. - Current liabilities decreased to $48,000 in Q1 2025 from $57,000 in Q4 2024, showing a reduction of approximately 15.79% [8]. Assets and Equity - The company's total assets decreased slightly to $4,565,000 as of March 31, 2025, down from $4,594,000 at the end of 2024 [6][8]. - Stockholders' equity as of March 31, 2025, was $4,517,000, a decrease from $4,537,000 at the end of 2024, indicating a decline of 0.44% [8]. Shares Outstanding - The weighted average common shares outstanding remained stable at 5,132,000 for both Q1 2025 and Q1 2024 [10].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTER ENDED March 31, 2025 Or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 000-08187 NEW CONCEPT ENERGY, INC. (State or Other Jurisdiction of Incorporation or Organization) Nevada 75-2399477 (I.R.S. Employer Identification No.) ...

Financial Performance - For Q4 2024, New Concept Energy reported a net loss of $19,000, an improvement from a net loss of $39,000 in Q4 2023[2] - For the full year 2024, the company reported a net loss of $18,000, compared to a net loss of $21,000 in 2023[3] - Total revenues for 2024 were $146,000, a decrease from $152,000 in 2023, primarily due to a decline in management fees from oil and gas operations[4] - Management fees decreased to $45,000 in 2024 from $51,000 in 2023, reflecting a decrease in oil and gas revenue[4] - Interest income was $213,000 in 2024, down from $222,000 in 2023[6] Operating Expenses - Operating expenses for real estate property decreased to $48,000 in 2024 from $57,000 in 2023[5] Assets and Liabilities - Total current assets decreased to $372,000 in 2024 from $459,000 in 2023[9] - Total assets decreased slightly to $4,594,000 in 2024 from $4,630,000 in 2023[9] - Total liabilities decreased to $57,000 in 2024 from $75,000 in 2023[11] - The accumulated deficit increased to $59,094,000 in 2024 from $59,076,000 in 2023[11]

Revenue and Income - The Company reported revenues from rent for the leased property of $101,000 in both 2024 and 2023[36] - Total revenue for 2024 was $146,000, a decrease of 3.9% compared to $152,000 in 2023[113] - Interest income was $213,000 in 2024, compared to $222,000 in 2023[38] - Interest income from a related party was $196,000 in 2024, down from $213,000 in 2023[113] - The company recognized operating revenue of $146,000 for the year ended December 31, 2024, a slight decrease from $152,000 in 2023[148] Expenses - Management fees from oil and gas operations decreased to $44,000 in 2024 from $51,000 in 2023, attributed to a decline in oil and gas prices[36] - Operating expenses for the real estate property were $48,000 in 2024, down from $57,000 in 2023[37] - General and administrative expenses were $334,000 in 2024, slightly down from $338,000 in 2023[37] - Operating expenses for 2024 totaled $383,000, a slight decrease from $395,000 in 2023[113] - Operating expenses for 2024 totaled $370,000, compared to $395,000 in 2023, indicating a reduction in costs[148] - Depreciation expense remained consistent at $13,000 for both 2024 and 2023[126] Assets and Liabilities - Current assets as of December 31, 2024, were $372,000, down from $459,000 in 2023[35] - Cash and cash equivalents totaled $363,000 at December 31, 2024, compared to $447,000 at the end of 2023[35] - Total assets decreased to $4,594,000 in 2024 from $4,630,000 in 2023, a reduction of 0.8%[107] - Total liabilities decreased to $57,000 in 2024 from $75,000 in 2023, a decrease of 24%[110] - Stockholders' equity decreased to $4,537,000 in 2024 from $4,555,000 in 2023, a decline of 0.4%[110] - The company had a note receivable of $3.542 million from a related party, with an interest rate of 4.96% as of December 31, 2024[138] Losses - Operating loss for 2024 was $237,000, slightly improved from a loss of $243,000 in 2023[113] - Net loss applicable to common shares for 2024 was $18,000, compared to a net loss of $21,000 in 2023[113] - The company reported a net operating loss carryforward of approximately $6.5 million, with $4.8 million expiring between 2025 and 2036[142] Governance and Compliance - The Company has a majority of independent directors on its Board, ensuring compliance with NYSE American Stock Exchange listing rules[51] - The Audit Committee consists of independent members, including Dan Locklear, who is qualified as an "audit committee financial expert"[54] - All members of the Audit, Compensation, and Governance Committees are independent directors, adhering to SEC regulations[55] - The Board has established guidelines for director independence, which are more stringent than the NYSE American requirements[51] - The Company has adopted a code of ethics applicable to all directors, officers, and employees, ensuring ethical conduct[68] Compensation - Gene S. Bertcher, the Chairman and CEO, received a salary of $60,000 in 2024, an increase from $56,500 in 2023[72] - The Company pays non-employee directors a fee of $2,500 per year, plus $2,000 for each board meeting attended[76] Taxation - The effective income tax rate for the company was 0.00% for both 2024 and 2023, with no reported income tax expense[144] - The Company maintains a 100% valuation allowance against its deferred tax assets due to uncertainty in future taxable income[34] Dividends and Retained Earnings - The Company has not paid dividends on its common stock during the last ten fiscal years, retaining earnings for debt reduction and future expansion[28] Audit and Management Services - The company maintained its audit fees at $48,000 for both 2024 and 2023[87] - The company entered into a formal agreement with Pillar Income Asset Management for management services, with fees totaling $12,000 for the year ended December 31, 2024[137] - The Company utilizes services from Pillar Income Asset Management without incurring fees, aiming for cost efficiency[83] Shareholder Information - Realty Advisors, Inc. holds 646,254 shares, representing approximately 12.59% of the Company's outstanding common stock as of March 17, 2025[78] - No director or executive officer holds beneficial ownership of the Company's common stock as of March 17, 2025[80] Miscellaneous - The report includes various exhibits related to the Articles of Incorporation and amendments of Medical Resource Companies of America and Greenbriar Corporation[153] - The advisory agreement between Pillar Income Asset Management, Inc. and New Concept Energy, Inc. is dated September 1, 2024[153] - The report is signed by Gene S. Bertcher, who serves as the Principal Executive Officer, President, and Chief Financial Officer[158] - The signatures of the board of directors, including Raymond D Roberts, Richard W Humphrey, Dan Locklear, Robert C. Canham, and Cecilia Maynard, are dated March 17, 2025[159]

Financial Performance - For the three months ended September 30, 2024, New Concept Energy reported a net loss of $4,000 compared to a net income of $7,000 for the same period in 2023, representing a shift from profit to loss [2]. - Revenue for the third quarter of 2024 was $37,000, which includes $26,000 in rental revenue and $11,000 in management fees, compared to $35,000 in total revenue for the same period in 2023 [2]. - The company reported an operating loss of $56,000 for Q3 2024, compared to an operating loss of $50,000 for Q3 2023 [9]. - The net loss per common share for Q3 2024 was $(0.01), compared to a net income per share of $0.01 for Q3 2023 [9]. Expenses - Corporate general and administrative expenses increased to $79,000 in Q3 2024 from $70,000 in Q3 2023, indicating a rise of approximately 12.9% [3]. - Total operating expenses for the third quarter of 2024 were $93,000, up from $85,000 in the same quarter of 2023, marking an increase of approximately 9.4% [9]. Income and Assets - Interest income for the third quarter of 2024 was $52,000, down from $57,000 in the same quarter of 2023, reflecting a decrease of about 8.8% [3]. - Total assets as of September 30, 2024, were $4,617,000, a slight decrease from $4,630,000 as of December 31, 2023 [6]. - The accumulated deficit as of September 30, 2024, was $(59,075,000), slightly improved from $(59,076,000) at the end of 2023 [7]. Liabilities - Total current liabilities decreased to $61,000 as of September 30, 2024, from $75,000 at the end of 2023, showing a reduction of approximately 18.7% [6].

Financial Performance - Total revenues for the three months ended September 30, 2024, were $37,000, compared to $35,000 for the same period in 2023, representing a 5.7% increase[12] - Operating loss for the three months ended September 30, 2024, was $(56,000), compared to $(50,000) for the same period in 2023, indicating a decline in operational performance[12] - Net loss applicable to common shares for the three months ended September 30, 2024, was $(4,000), compared to net income of $7,000 for the same period in 2023[12] - For the three months ended September 30, 2024, the company reported a net loss of $59,075,000 compared to a net income of $7,000 for the same period in 2023[14] - For the nine months ended September 30, 2024, the company recorded a net income of $1,000, down from $18,000 in the same period in 2023[15] - The company reported a net income (loss) per common share of $(0.01) for the three months ended September 30, 2024, compared to $0.01 for the same period in 2023[12] - The company reported a net loss of $4,000 for the three months ended September 30, 2024, compared to a net income of $7,000 for the same period in 2023[37] - For the nine months ended September 30, 2024, total revenue was $110,000, down from $115,000 in the same period of 2023, with rental revenue remaining constant at $76,000 but management fees decreasing from $39,000 to $34,000[40] Assets and Liabilities - Total current assets as of September 30, 2024, were $456,000, slightly down from $459,000 as of December 31, 2023[7] - Total assets decreased to $4,617,000 as of September 30, 2024, from $4,630,000 as of December 31, 2023[9] - Total stockholders' equity increased to $4,556,000 as of September 30, 2024, compared to $4,555,000 as of December 31, 2023[9] - As of September 30, 2024, the company reported current assets of $456,000 and current liabilities of $61,000, with cash and cash equivalents decreasing from $447,000 at December 31, 2023 to $430,000[37] Cash Flow and Income - Cash and cash equivalents at the end of the period for September 30, 2024, were $430,000, a decrease from $460,000 at the end of September 30, 2023[15] - Interest income from related parties for the three months ended September 30, 2024, was $50,000, down from $53,000 for the same period in 2023[12] Operating Expenses - Operating expenses for the three months ended September 30, 2024, totaled $93,000, compared to $85,000 for the same period in 2023, reflecting a 9.4% increase[12] - The company incurred corporate general and administrative expenses of $79,000 for the three months ended September 30, 2024, compared to $70,000 for the same period in 2023[38] - For the nine months ended September 30, 2024, corporate general and administrative expenses totaled $235,000, an increase from $219,000 in the comparable period of 2023[40] Business Operations - The company has entered into a formal agreement with Pillar Income Asset Management for management services, with a fee of $3,000 for September 2024[26] - The company is evaluating business opportunities to provide additional income and cash flow[18] - The company recognized revenue from rental income and consulting management fees, with performance obligations satisfied upon the transfer of risk of loss to the customer[23] Tax and Valuation - The company established a 100% valuation allowance against its deferred tax assets due to uncertainty in realizing the benefits[36] - The company has net operating loss carryforwards of approximately $7.5 million, expiring between 2024 and 2039[31] Environmental and Debt Status - The company has extinguished all outstanding debt, resulting in minimal exposure to interest rate risk[44] - The company has conducted environmental assessments on its properties, finding no material adverse environmental liabilities[43] Shareholder Information - The company had 5,131,934 shares of common stock outstanding as of November 13, 2024[4] - The company owns approximately 190 acres of land in Parkersburg, West Virginia, with four structures totaling approximately 53,000 square feet[20] - The company has a note receivable from American Realty Investors, Inc. amounting to $3,542,000, with an interest rate of 5.33% as of September 30, 2024[28]

Financial Performance - For Q2 2024, New Concept Energy reported a net income of $3,000, a turnaround from a net loss of $6,000 in Q2 2023, representing a significant improvement [2]. - Revenue for Q2 2024 was $37,000, up from $35,000 in Q2 2023, with rental income contributing $25,000 and management fees $12,000 [2]. - The company reported an operating loss of $53,000 for Q2 2024, an improvement from an operating loss of $60,000 in Q2 2023 [11]. Cost Management - Corporate general and administrative expenses decreased to $78,000 in Q2 2024 from $81,000 in Q2 2023, indicating cost management efforts [2]. - Interest income increased to $56,000 in Q2 2024 compared to $54,000 in Q2 2023, reflecting a positive trend in financial income [2]. Financial Position - Total assets as of June 30, 2024, were $4,620,000, slightly down from $4,630,000 at the end of 2023 [6][10]. - Total current liabilities decreased to $60,000 as of June 30, 2024, from $75,000 at the end of 2023, showing improved financial health [9]. - Stockholders' equity increased to $4,560,000 as of June 30, 2024, compared to $4,555,000 at the end of 2023, indicating a strengthening balance sheet [10]. Share Information - The weighted average common shares outstanding remained stable at 5,132,000 for both Q2 2024 and Q2 2023 [11]. Business Focus - New Concept Energy continues to focus on real estate and management services in the oil and gas sector, with no new product or market expansion strategies disclosed in the report [2].

Financial Performance - Total revenues for the three months ended June 30, 2024, were $37,000, compared to $35,000 for the same period in 2023, representing a 5.7% increase[20] - Net income applicable to common shares for the three months ended June 30, 2024, was $3,000, compared to a net loss of $6,000 for the same period in 2023[20] - For the six months ended June 30, 2024, the Company reported revenue of $73,000, a decrease of 8.8% from $80,000 in the same period of 2023, with rental income at $50,000 and management fees at $23,000[54] - The Company achieved net income from continuing operations of $3,000 for the three months ended June 30, 2024, compared to a net loss of $6,000 for the same period in 2023[52] - Interest income for the three months ended June 30, 2024 was $56,000, up from $54,000 in the comparable period of 2023[53] - Corporate general & administrative expenses for the three months ended June 30, 2024 were $78,000, slightly lower than $81,000 for the same period in 2023[52] Assets and Liabilities - Cash and cash equivalents at the end of the period on June 30, 2024, were $416,000, down from $432,000 at the end of June 30, 2023[27] - Total assets as of June 30, 2024, were $4,620,000, slightly down from $4,630,000 as of December 31, 2023[16] - Total current liabilities decreased to $60,000 as of June 30, 2024, from $75,000 as of December 31, 2023, a reduction of 20%[15] - The Company had current assets of $456,000 and current liabilities of $60,000 as of June 30, 2024, with cash and cash equivalents decreasing from $447,000 at December 31, 2023 to $416,000[52] Accumulated Deficit and Tax Assets - The accumulated deficit as of June 30, 2024, was $(59,071,000), a slight improvement from $(59,076,000) as of December 31, 2023[16] - The Company reported net operating loss carryforwards of approximately $7.5 million, which expire between 2024 and 2039, with a 100% valuation allowance established due to uncertainty in realizing the deferred tax asset benefits[43] Business Operations and Opportunities - The company is evaluating business opportunities to provide additional income and cash flow[32] - The company owns approximately 190 acres of land in Parkersburg, West Virginia, with four structures totaling approximately 53,000 square feet[33] - The company reported interest income from related parties of $56,000 for the three months ended June 30, 2024, compared to $54,000 for the same period in 2023[20] Debt and Risk Management - The Company has extinguished all outstanding debt, resulting in minimal risk from exposure to changes in interest rates[58] - The Company has not experienced losses with respect to its bank balances in excess of government-provided insurance as of June 30, 2024[40] Missing Information - No relevant financial performance or user data was provided in the documents[63] - There are no future outlook or performance guidance details available in the content[63] - No information regarding new products or technology development was found in the documents[63] - There are no mentions of market expansion or acquisitions in the provided content[63] - No new strategies or initiatives were discussed in the documents[63]

Financial Performance - For Q1 2024, New Concept Energy reported a net income applicable to common shares of $2,000, a decrease from $17,000 in Q1 2023[1]. - Total revenue for Q1 2024 was $36,000, down 20% from $45,000 in Q1 2023, with rental income contributing $25,000 and management fees $11,000[2]. - Corporate general and administrative expenses increased to $78,000 in Q1 2024 from $68,000 in Q1 2023, reflecting a 14.7% rise[2]. - Interest income for both Q1 2024 and Q1 2023 was $57,000 and $52,000 respectively, indicating a 9.6% increase year-over-year[2]. - The net income per common share for Q1 2024 remained at $0.01, consistent with Q1 2023[11]. Assets and Liabilities - Total assets as of March 31, 2024, were $4,624,000, slightly down from $4,630,000 as of December 31, 2023[5]. - Current liabilities decreased to $67,000 in Q1 2024 from $75,000 in Q4 2023, a reduction of 10.7%[8]. - Total shareholders' equity increased to $4,557,000 as of March 31, 2024, compared to $4,555,000 at the end of 2023[9]. Shareholder Information - The company maintained a weighted average of 5,132,000 common shares outstanding for both Q1 2024 and Q1 2023[11]. Business Operations - New Concept Energy continues to own real estate in West Virginia and provide management services for a third-party oil and gas company[3].

Financial Performance - Total revenues for Q1 2024 were $36,000, a decrease of 20% compared to $45,000 in Q1 2023[19] - Operating loss for Q1 2024 was $(55,000), compared to $(35,000) in Q1 2023, indicating a worsening of operational performance[19] - Net income applicable to common shares for Q1 2024 was $2,000, down from $17,000 in Q1 2023, reflecting a decline of approximately 88.24%[19] - The Company reported net income from continuing operations of $2,000 for the three months ended March 31, 2024, compared to net income of $17,000 for the same period in 2023, representing a decrease of approximately 88.24%[41] - Revenue for the three months ended March 31, 2024 was $36,000, which included $25,000 in rental income and $11,000 in management fees[41] - Corporate general and administrative expenses increased to $78,000 for the three months ended March 31, 2024, up from $68,000 in the comparable period in 2023, reflecting a rise of approximately 14.71%[41] Cash and Liquidity - Cash and cash equivalents decreased to $395,000 as of March 31, 2024, from $447,000 at the beginning of the year[26] - Cash and cash equivalents decreased to $395,000 at March 31, 2024, down from $447,000 at December 31, 2023, a decline of approximately 11.63%[41] - As of March 31, 2024, the Company had current assets of $456,000 and current liabilities of $67,000, indicating a strong liquidity position[41] - The Company maintains cash balances at financial institutions insured up to $250,000 by the Federal Deposit Insurance Corporation, with no significant concentration of credit risk as of March 31, 2024[34] - The Company has not experienced any losses with respect to its bank balances in excess of government-provided insurance[34] Assets and Liabilities - Total assets as of March 31, 2024, were $4,624,000, slightly down from $4,630,000 at the end of 2023[10] - Total liabilities decreased to $67,000 as of March 31, 2024, from $75,000 at the end of 2023, showing a reduction of approximately 10.67%[13] - Stockholders' equity increased to $4,557,000 as of March 31, 2024, compared to $4,555,000 at the end of 2023[15] Business Strategy - The company is actively evaluating business opportunities to enhance income and cash flow[31] - The Company has established a 100% valuation allowance against its deferred tax assets due to uncertainty regarding the realization of these benefits[40] - The Company has extinguished all outstanding debt, resulting in minimal risk from exposure to changes in interest rates[46] Other Information - The company reported interest income from related parties of $57,000 in Q1 2024, up from $52,000 in Q1 2023, indicating a growth of 9.62%[19] - The Company has maintained its common stock outstanding at 5,131,934 shares since December 31, 2023[15] - The Company has evaluated subsequent events through May 8, 2024, and determined that there are none to be reported[35]