Revenue and Financial Performance - The Company recognized leasing revenue of approximately $2,991,000 for the three-month period ended March 31, 2025, compared to $4,253,000 for the same period in 2024, with PBRT services contributing approximately $1,642,000 and $2,649,000, respectively [97]. - Direct patient services revenues for the three-month period ended March 31, 2025, were approximately $3,121,000, a significant increase from $963,000 in the same period of 2024 [100]. - Revenues increased by $896,000 to $6,112,000 for Q1 2025 compared to $5,216,000 for Q1 2024 [107]. - Revenues from the leasing segment decreased by $1,262,000 to $2,991,000 due to lower Gamma Knife volumes and the expiration of two customer contracts [107]. - Direct patient services revenue increased by $2,158,000 to $3,121,000, primarily driven by the RI Companies following the acquisition on May 7, 2024 [107]. - Radiation therapy revenues from the acquired facilities and the Puebla facility totaled $2,374,000 for Q1 2025, compared to $0 for Q1 2024 [108]. - Total costs of revenue increased by $2,097,000 to $5,170,000 for Q1 2025 compared to $3,073,000 for Q1 2024 [113]. - Net loss attributable to American Shared Hospital Services increased by $744,000 to a loss of $625,000, or $0.10 per diluted share for Q1 2025 [123]. Assets and Liabilities - As of March 31, 2025, accounts receivable balances under ASC 606 were $6,120,000, compared to $1,882,000 as of March 31, 2024 [100]. - Working capital decreased by $4,821,000 to $11,032,000 as of March 31, 2025, compared to $15,853,000 at December 31, 2024 [125]. - The Company had cash, cash equivalents, and restricted cash of $11,491,000 as of March 31, 2025, an increase of $216,000 from December 31, 2024 [124]. - Long-term debt was $18,372,000 as of March 31, 2025, compared to $18,462,000 at December 31, 2024 [129]. - As of March 31, 2025, the Company had long-term debt of $19,926,000 on its condensed consolidated balance sheets [136]. Debt and Financing - The DFC Loan has a first tranche outstanding amount of $1,642,000 with a fixed interest rate of 3.67% and a second tranche of $1,806,000 at 7.49% [131]. - Interest expense increased by $84,000 to $433,000 for Q1 2025 due to increased borrowings [119]. - The Company is in compliance with all covenants related to the DFC Loan as amended and waived as of March 31, 2025 [133]. - The Company received a waiver and amendment from DFC for certain covenants as of December 31, 2023, and through December 31, 2024 [132]. Commitments and Obligations - Total commitments for purchasing and installing three Leksell Gamma Knife Esprit Systems and two Linear Accelerator systems amounted to $9,618,000 as of March 31, 2025 [138]. - The Company has commitments for service and maintenance of its Gamma Knife, LINAC, and PBRT equipment totaling $12,252,000 as of March 31, 2025 [140]. - The Company has an obligation to maintain a minimum fixed charge coverage ratio of 1.25 and a maximum funded debt to EBITDA ratio of 3.0 to 1.0 under the Credit Agreement [130]. Operational Developments - The Company acquired 60% of the equity interests of the RI Companies on May 7, 2024, which operate three radiation therapy facilities in Rhode Island [90]. - The Company operates ten domestic Gamma Knife units and one PBRT system in the United States as of March 31, 2025 [96]. - The Company’s facilities in Rhode Island, Peru, Ecuador, and Mexico are considered direct patient services, where contracts exist between the Company and individual patients [90]. - The approximate CMS reimbursement rates for PBRT treatments in 2025 are $578 for simple treatments and $1,276 for intermediate and complex treatments [92]. - The Company’s revenue recognition policies are based on ASC 842 and ASC 606, with revenues recognized when services are rendered and collectability is reasonably assured [96]. Related Party Transactions - The Company recorded total related party transactions of $1,558,000 for the three months ended March 31, 2025, compared to $2,586,000 for the same period in 2024 [142]. Equipment and Salvage Value - The Company has not assigned any salvage value to its PBRT or LINAC equipment as of March 31, 2025 [101].

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.) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _____________. OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION ...

Revenue Performance - For the three months ended March 31, 2025, the company's revenue was $587,078, a decline of 9.6% compared to $649,420 for the same period in 2024, attributed to fewer subscribers and lower revenue per subscriber [107]. - Average subscribers for the three months ended March 31, 2025, were 2,707, down from 2,996 in the prior year, with average monthly revenue per subscriber decreasing from $72.19 to $69.22 [107]. - The company expects significant future revenue growth from its new educational offerings, which are currently contributing to other revenue streams [107]. Financial Losses - The company incurred an operating loss of $887,666 and a net loss of $829,133 for the three months ended March 31, 2025, compared to a loss from operations of $863,711 in the prior year [98][110]. - EBITDA for the three months ended March 31, 2025, was $(675,044), compared to $(740,927) for the same period in 2024, reflecting adjustments for interest expense and financing costs [115]. Cost and Expenses - Gross margins for the three months ended March 31, 2025, were 41.6%, down from 44.9% in the same period of 2024, with cost of revenues at $343,003 compared to $357,958 [108]. - Operating expenses decreased slightly to $1,131,741 for the three months ended March 31, 2025, from $1,155,428 in the prior year, with a significant increase in selling, general, and administrative expenses due to higher professional fees related to the pending merger [109]. Cash and Financing - The company had cash and marketable securities totaling $215,346 as of March 31, 2025, compared to $17,036 at December 31, 2024 [103]. - The company entered into a merger agreement with REalloys, expected to provide $5,000,000 in financing upon completion, with pre-merger stockholders retaining approximately 7.3% of the post-merger common stock [98]. - The company filed a shelf registration statement for the sale of up to $50,000,000 in securities, with no assurance of being able to raise capital on acceptable terms [100].

Revenue and Income - Total revenues for Q1 2025 increased to $2,339 million, up 40% from $1,670 million in Q1 2024[16] - Net investment income surged to $1,275 million in Q1 2025, compared to $440 million in Q1 2024, reflecting a significant increase of 190%[16] - The company reported a net loss of $203 million for Q1 2025, contrasting with a net income of $114 million in Q1 2024[19] - Comprehensive income attributable to American National Group Inc. was $124 million for Q1 2025, down from $163 million in Q1 2024[19] - For the three months ended March 31, 2025, the net income was a loss of $203 million, compared to a net income of $114 million for the same period in 2024[25] - The company reported a significant increase in insurance-related liabilities, which rose to $652 million from $238 million year-over-year[25] - The company experienced losses on investments and derivatives amounting to $308 million, compared to gains of $47 million in the previous year[25] Assets and Liabilities - Total assets rose to $123,434 million as of March 31, 2025, compared to $121,221 million at the end of 2024, marking an increase of 1.8%[13] - The company’s total liabilities increased to $113,389 million as of March 31, 2025, compared to $111,193 million at the end of 2024, an increase of 2%[13] - The company’s equity totaled $10,045 million as of March 31, 2025, slightly up from $10,028 million at the end of 2024[13] - The total financial liabilities increased to $9,538 million as of March 31, 2025, compared to $9,324 million as of December 31, 2024, reflecting an increase of approximately 2.3%[90] - The total liabilities of the Company as of March 31, 2025, were $110.234 billion, an increase from $107.791 billion as of December 31, 2024[199] Cash Flow and Investments - Cash flows provided by operating activities increased to $671 million, up from $262 million year-over-year[25] - Cash flows used in investing activities significantly increased to $(5,748) million, compared to $(1,538) million in the prior year[27] - The cash and cash equivalents at the end of the period were $7,520 million, a decrease from $11,330 million at the beginning of the period[27] - The fair value of cash and cash equivalents decreased to $7,520 million as of March 31, 2025, from $11,330 million as of December 31, 2024, a decline of approximately 33.5%[90] - The company held excess collateral of $16 million as of March 31, 2025, down from $76 million as of December 31, 2024[86] Premiums and Claims - Net premiums decreased to $889 million in Q1 2025, down 22% from $1,144 million in Q1 2024[16] - The net amount of policyholder benefits and claims incurred was $888 million for the three months ended March 31, 2025, down from $1,086 million in 2024, a decrease of about 18.2%[128] - The liability for unpaid claims increased to $1,908 million as of March 31, 2025, compared to $1,854 million at the end of 2024, reflecting a growth of 2.9%[157] - Total incurred claims for the current accident year were $291 million for the three months ended March 31, 2025, down from $343 million for the same period in 2024[157] Acquisitions and Intangible Assets - The acquisition of AEL was completed for approximately $2.5 billion in cash and 28,803,599 shares of BAM, with goodwill recognized at $662 million as of March 31, 2025[136][137] - The total intangible assets as of March 31, 2025, amounted to $1,654 million, compared to $1,601 million at the end of December 31, 2024, reflecting an increase of about 3.3%[133] - The total value of business acquired (VOBA) decreased to $8,718 million as of March 31, 2025, down from $8,913 million at the beginning of the period, a reduction of approximately 2.2%[130] Equity and Stock Transactions - The company redeemed 16,000 shares of Series A preferred stock for a total payment of $408 million on February 24, 2025, recognizing a loss of $11 million[173] - The company issued 12,000 shares of Series D preferred stock with a liquidation preference of $25,000 per share for net proceeds of $292 million on January 10, 2025[175] Segment Performance - For the three months ended March 31, 2025, the Company reported segment revenues of $2,400 million, an increase from $1,708 million in the same period of 2024, representing a growth of approximately 40.5%[194] - The Distributable Operating Earnings (DOE) for the Annuities segment was $407 million for Q1 2025, compared to $105 million in Q1 2024, indicating a significant increase of approximately 287.6%[194] - The Life Insurance segment generated $152 million in revenues for Q1 2025, a decrease from $311 million in Q1 2024, reflecting a decline of approximately 51.1%[194] Regulatory and Accounting Changes - The amendments in ASU 2023-09 will require public business entities to disclose specific categories in the rate reconciliation starting from annual reporting periods after December 15, 2024[44] - The company is currently evaluating the impact of ASU 2024-03, which will require additional expense category disclosures starting from annual reporting periods after December 15, 2026[45]

Exhibit 99.1 NextPlat Reports First Quarter 2025 Results Company Reports $14.5M in Q1 Revenue; Operating Expenses Decline 26% as Expected, with Continued Focus on Cost Reduction, Ef iciency Improvements, and Strategic Planning Amid Rising Drug Prices and Potential Tarif Impacts COCONUT GROVE, FL – May 15, 2025 – NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced the financial results for the quarter-ended March 31, 2025, reflecting the performanc ...

Financial Performance - Total income for the three months ended March 31, 2025, was $8,238, a significant drop from $5,108,715 in the same period of 2024, indicating a decrease of over 99%[10] - Distributable income for the three months ended March 31, 2025, was $0, compared to $4,092,544 in the same period of 2024, reflecting a complete loss of distributable income year-over-year[10] - Royalty income for the three months ended March 31, 2025, was $0, compared to $5,091,060 in the same period of 2024, marking a decline of 100%[10] - Distributions declared per unit for the three months ended March 31, 2025, were $0, compared to $0.087806 in the same period of 2024[12] - Production Costs exceeded Gross Proceeds by $491,938 for the three months ended March 31, 2025, leading to no Royalty Income distribution[70] - Total Gross Proceeds increased by approximately $5.5 million, or 30.1%, for the three months ended March 31, 2025, compared to the same period in 2024, driven by increased production volumes from two new horizontal wells drilled in 2024[71] Cash and Reserves - As of March 31, 2025, cash and short-term investments decreased to $258,521 from $760,920 on December 31, 2024, representing a decline of approximately 66%[8] - The cash reserve balance was $258,521 as of March 31, 2025, down from $760,920 at the end of 2024, indicating a reduction of approximately 66%[24] - Total cash reserves were $258,521 as of March 31, 2025, down from $1,800,000 as of April 30, 2024, due to the lack of Royalty Income[81] - The Trust expects to continue drawing on cash reserves for all liabilities not covered by interest income until Royalty Income resumes[83] Trust Viability and Concerns - The trust's ability to continue as a going concern is in doubt due to anticipated deficits in income to cover liabilities, prompting evaluations of commercial lending options[25] - The anticipated deficit in income raises substantial doubt about the Trust's ability to continue as a going concern within one year after the issuance date of the financial statements[84] - The Trustee is negotiating a commercial line of credit to cover the Trust's liabilities once cash reserves are depleted[84] Production and Expenditures - Hilcorp's estimated capital expenditures for 2025 are approximately $9.0 million, with $4.0 million allocated to seven new vertical drill projects[39] - Hilcorp's capital expenditures rose significantly from $990,794 for the three months ended March 31, 2024, to $14,047,360 for the same period in 2025, an increase of approximately $13,056,566[72] - The cumulative balance of Excess Production Costs as of March 31, 2025, was $21,739,946 gross ($16,304,960 net to the Trust), which must be recovered from future Net Proceeds before Royalty Income can be paid[77] - Natural gas production from the Subject Interests increased from 5,595,016 Mcf for the three months ended March 31, 2024, to 7,620,893 Mcf for the same period in 2025[70] - Oil production volumes increased by 2,528 Bbls (41.5%) for the Subject Interests and by 41 Bbls (11.4%) for Royalty for the three months ended March 31, 2025[91] Tax and Compliance - The Trust's tax years 2021 and thereafter remain subject to examination, with material tax positions likely to be sustained[32] - Hilcorp's production and sale of natural gas from coal seam wells does not qualify for tax credit under Section 45K of the Code[30] - The Trust's auditing process includes detailed analyses of Hilcorp's pricing and rates charged, ensuring compliance with operative Trust agreements[34] - The trust operates under the regulations set forth by the Securities Exchange Act, ensuring transparency and accountability[118] - The trust's compliance with regulatory requirements highlights its commitment to investor protection[118] Governance and Structure - The San Juan Basin Royalty Trust has no directors or executive officers, indicating a streamlined governance structure[118] - Nancy Willis serves as the Director of Royalty Trust Services, responsible for overseeing trust operations[118] - The document does not provide insights into market expansion or new product developments[118] - The absence of executive officers may affect decision-making processes and strategic initiatives[118] - There are no specific financial performance metrics or forecasts provided in the document[118] - The trust's structure as a royalty trust suggests a focus on income generation from oil and gas royalties[118] - The trust's operational framework may influence investment strategies in the energy sector[118]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commissi ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR | | | Name of Each Exchange On Which | | --- | --- | --- | | Title of Each Class | Trading Symbol(s) | Registered | | Common Stock, par v ...