{"id":382371,"date":"2020-11-16T17:20:27","date_gmt":"2020-11-16T22:20:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382371"},"modified":"2020-11-16T17:20:27","modified_gmt":"2020-11-16T22:20:27","slug":"new-concept-energy-inc-reports-third-quarter-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-third-quarter-2020-results\/","title":{"rendered":"New Concept Energy, Inc. Reports Third Quarter 2020 Results"},"content":{"rendered":"

<\/p>\n

New Concept Energy, Inc. Reports Third Quarter 2020 Results<\/b><\/p>\n

DALLAS–(BUSINESS WIRE<\/a>)–
\nNew Concept Energy, Inc. (NYSE American: GBR), ( the \u201cCompany\u201d or \u201cNCE\u201d) a Dallas-based company, today reported net income for the three months ended September 30, 2020 of $2,182,000 or ($0.43) per share, compared to a net loss of $2,320,000 or ($0.45) per share for the three months ended September 30, 2019.\n<\/p>\n

\nFor the three months ended September 30, 2020, the Company recorded net revenue from continuing operations of $82,000 and net income from discontinued operations of $2,100,000. For the three months ended September 30, 2019, the Company recorded $22,000 from continuing operations and a loss of $2,342,000 from discontinued operations.\n<\/p>\n

\nOn August 31, 2020 the Company sold its entire oil and gas operation for $85,000 to an independent third party. In prior years the Company has accrued a liability of $2,745,000 to plug and abandon the existing wells. This obligation was assumed by the buyer. Upon the sale of the wells the Company recorded a gain of $2,138,000.\n<\/p>\n

\nIn September 2019 the Company wrote down the accounting value of its oil and gas reserves by $2,285,000.\n<\/p>\n

\nFor the three months ended September 30, 2020 the Company reported other income of $84,000 which represents a tax refund for taxes paid in prior years.\n<\/p>\n

\nThe Company continues to own 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 approximately 16,000 square feet is leased at a rate of $101,000 per annum.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

CONSOLIDATED BALANCE SHEETS\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(unaudited)\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n

(dollars in thousands, except par value amount)<\/b><\/td>\n<\/tr>\n
\u00a0\u00a0<\/td>\n\nSeptember 30,
2020<\/b><\/td>\n		\nDecember 31,
2019<\/b><\/td>\n<\/tr>\n
\u00a0\u00a0<\/td>\n\n(unaudited)<\/td>\n\n(audited)<\/td>\n<\/tr>\n
Assets<\/b><\/td>\n\n\n\n<\/tr>\n
\u00a0\u00a0<\/td>\n\n\n\n<\/tr>\n
Current assets<\/b><\/td>\n\n\n\n<\/tr>\n
\u00a0Cash and cash equivalents<\/td>\n\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 42\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 22\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0Current portion notes receivable (including $3,578 and $4,005 due to related parties in 2020 and 2019)<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,618\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,046\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0Other current assets<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 104\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\u00a0\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total current assets<\/b><\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,764\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,068\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0<\/td>\n\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property and equipment, net of depreciation<\/b><\/td>\n\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0Land, buildings and equipment\u00a0<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 659\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 668\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Assets held for sale<\/b><\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\u00a0\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 840\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Other\u00a0 assets\u00a0<\/b><\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 181\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 214\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/b><\/td>\n\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,604\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,790\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n\u00a0\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n
CONSOLIDATED BALANCE SHEETS – CONTINUED<\/b><\/td>\n<\/tr>\n
(unaudited)\u00a0<\/b><\/td>\n<\/tr>\n
(dollars in thousands, except par value amount)<\/b><\/td>\n<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
\nSeptember 30,
\u00a02020<\/b><\/td>\n		\nDecember 31,
\u00a02019<\/b><\/td>\n<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
Liabilities and stockholders’ equity<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0<\/td>\n<\/td>\n\u00a0<\/td>\n<\/td>\n<\/tr>\n
Current liabilities<\/b><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0 Accounts payable\u00a0 (includes $32 and $180 due to related parties in 2020 and 2019)<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 226\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0 Accrued expenses\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0 Current portion of long term debt<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 40\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 44\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total current liabilities<\/b><\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 97\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 290\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\n\u00a0<\/td>\n<\/tr>\n
Long-term debt<\/b><\/td>\n\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0 Notes payable less current portion<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 150\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 177\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\u00a0<\/td>\n\n\u00a0<\/td>\n<\/tr>\n
\u00a0Liabilities of assets held for sale<\/b><\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,914\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\u00a0<\/td>\n\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/b><\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 247\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,381\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
Stockholders’ equity<\/b><\/td>\n\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0 Preferred stock, Series B<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at September 30, 2020 and December 31, 2019<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 51\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 51\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0 Additional paid-in capital<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 63,579\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 63,579\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0 Accumulated deficit<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (59,274\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (61,222\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
Total Shareholder Equity<\/b><\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,357\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,409\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
Total liabilities & equity<\/b><\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,604\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,790\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n\u00a0\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
NEW CONCEPT ENERGY, INC AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n
CONSOLIDATED STATEMENT OF OPERATIONS<\/b><\/td>\n<\/tr>\n
(unaudited)<\/b><\/td>\n<\/tr>\n
(amounts in thousands, except per share data)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nFor the Three Months ended September 30,\u00a0<\/b><\/td>\n\nFor the Nine Months ended September 30,\u00a0<\/b><\/td>\n<\/tr>\n
\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2020<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2020<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Revenue<\/b><\/td>\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n<\/tr>\n
Rent<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 76\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 76\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Operating expenses<\/b><\/td>\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n<\/tr>\n
Operating expenses<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n15\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n17\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n46\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n53\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Corporate general and administrative<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n65\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n92\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n296\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n314\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Total operating expenses<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n80\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n109\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n342\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n367\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0\u00a0\u00a0 Operating loss<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(55\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(84\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(266\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(291\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n<\/tr>\n
Other income (expense)<\/b><\/td>\n\n\n\n\n\n\n<\/tr>\n
Interest income from related parties<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n54\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n60\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n172\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n180\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Interest Income from third parties<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Interest expense<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(3\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(3\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(9\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(12\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\u00a0Income other<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n83\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n46\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n83\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n199\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Other income<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n137\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n106\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n258\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n379\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) from continuing operations<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n82\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n22\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(8\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n88\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Discontinued Operations<\/b><\/td>\n\n\n\n\n\n\n<\/tr>\n
Gain (loss) from discontinued operations\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(38\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2,342\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(182\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2,423\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Gain (loss) from disposal of Oil & Gas Operations<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,138\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,138\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 –\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,100\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2,342\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,956\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2,423\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Net income\u00a0 (loss) applicable to common shares<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,182\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2,320\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,948\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2,335\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

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Net income (loss) per common share-basic and diluted<\/td>\n\n

\n\u00a0$\n<\/p>\n<\/td>\n

\n

\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.43\n<\/p>\n<\/td>\n

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\n

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\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Weighted average common and equivalent shares outstanding – basic<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,132\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

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\n

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\n\n

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\n\n

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\n

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\n\u00a0\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201116006053\/en\/<\/a><\/span><\/p>\n

\nNew Concept Energy Inc.
\n
Investor Relations
\n
Gene Bertcher, (800) 400-6407
\n
info@newconceptenergy.com<\/a><\/b><\/span><\/p>\n

KEYWORDS:<\/b> Texas United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

New Concept Energy, Inc. Reports Third Quarter 2020 Results DALLAS–(BUSINESS WIRE)– New Concept Energy, Inc. (NYSE American: GBR), ( the \u201cCompany\u201d or \u201cNCE\u201d) a Dallas-based company, today reported net income for the three months ended September 30, 2020 of $2,182,000 or ($0.43) per share, compared to a net loss of $2,320,000 or ($0.45) per share for the three months ended September 30, 2019. For the three months ended September 30, 2020, the Company recorded net revenue from continuing operations of $82,000 and net income from discontinued operations of $2,100,000. For the three months ended September 30, 2019, the Company recorded $22,000 from continuing operations and a loss of $2,342,000 from discontinued operations. On August 31, 2020 the Company sold its … <\/p>\n

Continue reading “New Concept Energy, Inc. Reports Third Quarter 2020 Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382371","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNew Concept Energy, Inc. Reports Third Quarter 2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-third-quarter-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Concept Energy, Inc. 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