{"id":469161,"date":"2021-03-31T16:59:28","date_gmt":"2021-03-31T20:59:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469161"},"modified":"2021-03-31T16:59:28","modified_gmt":"2021-03-31T20:59:28","slug":"new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/","title":{"rendered":"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results"},"content":{"rendered":"

<\/p>\n

New Concept Energy, Inc. Reports Fourth Quarter and Full Year 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 Results of Operations for the fourth quarter and the full year ended December 31, 2020.\n<\/p>\n

Discontinued Operations:<\/b><\/p>\n

\nIn August 2020 the Company sold its oil and gas operation and recorded a gain from the sale of $2.1 million. The sales price was $85,000 however the Company had previously established a reserve for plug and abandonment costs of $2 million. Upon the sale the Company was relieved of any plug and abandonment obligations.\n<\/p>\n

\nFor the full year ended December 31, 2020 the Company reported a net loss from discontinued operations of $170,000 as compared to net loss of $2.4 million for the same period ended December 31, 2019. Included in the loss in 2019 is an impairment loss of $2.3 million whereby the Company had reduced the recorded value of its oil and gas operation.\n<\/p>\n

Continuing Operations: <\/b><\/p>\n

\nDuring the three months ended December 31, 2020 the Company reported a net loss from continuing operations of $32,000 compared to a net loss of $17,000 for the same period ended December 31, 2019.\n<\/p>\n

\nFor the full year ended December 31, 2020 the Company reported a net loss from continuing operations of $52,000 as compared to net income of $60,000 for the same period ended December 31, 2019.\n<\/p>\n

Revenues: <\/i>Total revenues from rent for the leased property was $101,000 in 2020 and $98,000 in 2019.\n<\/p>\n

Operating Expenses<\/i>: Operating expenses for the real estate property was $72,000 in 2020 and $61,000 in 2019. General and administrative expenses were $396,000 in 2020 and 418,000 in 2019.\n<\/p>\n

Interest Income<\/i>:Interest Income was $242,000 in 2020 as compared to $257,000 in 2019. The decrease was due to the reduction in the principal balance outstanding due to payments received.\n<\/p>\n

Other Income<\/i>:Other income was $85,000 in 2020 which is an income tax refund for prior years. Other income was $199,000 in 2019 which is comprised of a gain on sale of equipment of $46,000 and the settlement of a legal claim of $153,000.\n<\/p>\n

Discontinued Operations: <\/i>During the first nine months of 2020 the Company recorded a net loss from its oil and gas operations of $170,000. In August 2020 the Company sold the oil and gas operation and recorded a gain of $2,138,000.\n<\/p>\n

About New Concept Energy, Inc.<\/i><\/b><\/p>\n

\nNew Concept Energy, Inc. is a Dallas-based company which owns real estate in West Virginia. For more information, visit the Company\u2019s website at www.newconceptenergy.com<\/a>.\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
\u00a0<\/td>\n<\/tr>\n
NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n
CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n
(amounts in thousands)<\/b><\/td>\n<\/tr>\n
<\/tr>\n
\nDecember 31,<\/b><\/td>\n<\/tr>\n
\n\n

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

\n\n

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

Assets<\/b><\/td>\n\n\n<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
Current assets<\/b><\/td>\n\n\n<\/tr>\n
Cash and cash equivalents<\/td>\n\n

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

\n

\n27\n<\/p>\n<\/td>\n

\n\n

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

\n

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

Current portion note receivable (including $ $3,631 and $4,005 in 2020 and 2019 from related parties)<\/td>\n\n

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

\n

\n3,683\n<\/p>\n<\/td>\n

\n\n

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

\n

\n4,046\n<\/p>\n<\/td>\n<\/tr>\n

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

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

\n

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

\n\n

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

\n

\n–\n<\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n3,802\n<\/p>\n<\/td>\n

\n\n

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

\n

\n4,068\n<\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n656\n<\/p>\n<\/td>\n

\n\n

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

\n

\n668\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Note Receivable<\/b><\/td>\n\n

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

\n

\n153\n<\/p>\n<\/td>\n

\n\n

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

\n

\n214\n<\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n–\n<\/p>\n<\/td>\n

\n\n

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

\n

\n840\n<\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n4,611\n<\/p>\n<\/td>\n

\n\n

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

\n

\n5,790\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\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
<\/tr>\n
NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n
CONSOLIDATED BALANCE SHEETS – CONTINUED<\/b><\/td>\n<\/tr>\n
(amounts in thousands, except share amounts)<\/b><\/td>\n<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
\nDecember 31,<\/b><\/td>\n<\/tr>\n
\n\n

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

\n\n

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

Liabilities and stockholders’ equity<\/b><\/td>\n\n\n<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
Current liabilities<\/b><\/td>\n\n\n<\/tr>\n
Accounts payable – trade (including $55 and $180 in 2020 and 2019 due to related parties)<\/td>\n\n

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

\n

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

\n

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

\n\n

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

\n

\n226\n<\/p>\n<\/td>\n

\n

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

Accrued expenses<\/td>\n\n

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

\n

\n32\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n20\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n52\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n44\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

\n164\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n290\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n122\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n177\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n–\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n2,914\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n286\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n3,381\n<\/p>\n<\/td>\n

\n

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

\n\n\n\u00a0<\/td>\n<\/tr>\n
Stockholders’ equity<\/b><\/td>\n\n\n<\/tr>\n
Series B convertible preferred stock, $10 par value, liquidation value<\/td>\n\n\n<\/tr>\n
of $100 authorized 100 shares, issued and outstanding one share<\/td>\n\n

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

\n

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

\n

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

\n\n

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

\n

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

\n

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

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

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

\n

\n51\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n51\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n63,579\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n63,579\n<\/p>\n<\/td>\n

\n

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

Accumulated deficit<\/td>\n\n

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

\n

\n(59,306\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n

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

\n\n

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

\n

\n4,325\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n2,409\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n4,611\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n5,790\n<\/p>\n<\/td>\n

\n

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

\n\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\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\n\n\n\u00a0<\/td>\n<\/tr>\n
NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES<\/b><\/td>\n<\/tr>\n
CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/td>\n<\/tr>\n
(amounts in thousands, except per share data)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nYear Ended December 31, <\/b><\/td>\n<\/tr>\n
\n\n

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

\n\n

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

\n\n

2018<\/b><\/p>\n<\/td>\n<\/tr>\n

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

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

\n

\n101\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n98\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n123\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

\n101\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n98\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n123\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n72\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n61\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n59\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

\n396\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n418\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n359\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

\n468\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n479\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n418\n<\/p>\n<\/td>\n

\n

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

Operating loss<\/td>\n\n

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

\n

\n(367\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(381\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(295\n<\/p>\n<\/td>\n

\n

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

\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Other income (expense)<\/b><\/td>\n\n\n\n\n<\/tr>\n
Interest income (including $226 and $240 for the year ended 2020 and 2019 from related parties)<\/td>\n\n

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

\n

\n242\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n257\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n37\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(12\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(15\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

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

\n

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

Other income (expense), net<\/td>\n\n

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

\n

\n85\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

\n\n

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

\n

\n11\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

\n315\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n441\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n30\n<\/p>\n<\/td>\n

\n

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

\n(52\n<\/p>\n<\/td>\n

\n

\n)\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

\n(265\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n(170\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,412\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(219\n<\/p>\n<\/td>\n

\n

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

Gain from Disposal of oil and 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

\n\n\n<\/tr>\n
\n\n

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

\n

\n1,968\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,412\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(219\n<\/p>\n<\/td>\n

\n

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

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

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

\n

\n1,916\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(2,352\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(484\n<\/p>\n<\/td>\n

\n

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

\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) per common share-basic and diluted<\/td>\n\n

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

\n

\n0.37\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(0.46\n<\/p>\n<\/td>\n

\n

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

\n\n

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

\n

\n(0.21\n<\/p>\n<\/td>\n

\n

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

\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

\n2,358\n<\/p>\n<\/td>\n

\n

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

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

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

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210331005990\/en\/<\/a><\/span><\/p>\n

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

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

INDUSTRY KEYWORDS:<\/b> Oil\/Gas Commercial Building & Real Estate Energy Construction & Property Urban Planning Building Systems<\/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 Fourth Quarter and Full Year 2020 Results DALLAS–(BUSINESS WIRE)– New Concept Energy, Inc. (NYSE American: GBR), (the \u201cCompany\u201d or \u201cNCE\u201d) a Dallas based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2020. Discontinued Operations: In August 2020 the Company sold its oil and gas operation and recorded a gain from the sale of $2.1 million. The sales price was $85,000 however the Company had previously established a reserve for plug and abandonment costs of $2 million. Upon the sale the Company was relieved of any plug and abandonment obligations. For the full year ended December 31, 2020 the Company reported a net loss from discontinued operations … <\/p>\n

Continue reading “New Concept Energy, Inc. Reports Fourth Quarter and Full Year 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-469161","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNew Concept Energy, Inc. Reports Fourth Quarter and Full Year 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-fourth-quarter-and-full-year-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. Reports Fourth Quarter and Full Year 2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results DALLAS–(BUSINESS WIRE)– New Concept Energy, Inc. (NYSE American: GBR), (the \u201cCompany\u201d or \u201cNCE\u201d) a Dallas based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2020. Discontinued Operations: In August 2020 the Company sold its oil and gas operation and recorded a gain from the sale of $2.1 million. The sales price was $85,000 however the Company had previously established a reserve for plug and abandonment costs of $2 million. Upon the sale the Company was relieved of any plug and abandonment obligations. For the full year ended December 31, 2020 the Company reported a net loss from discontinued operations … Continue reading "New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-31T20:59:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results\",\"datePublished\":\"2021-03-31T20:59:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/\"},\"wordCount\":701,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/\",\"name\":\"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en\",\"datePublished\":\"2021-03-31T20:59:28+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en\",\"contentUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/","og_locale":"en_US","og_type":"article","og_title":"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results - Market Newsdesk","og_description":"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results DALLAS–(BUSINESS WIRE)– New Concept Energy, Inc. (NYSE American: GBR), (the \u201cCompany\u201d or \u201cNCE\u201d) a Dallas based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2020. Discontinued Operations: In August 2020 the Company sold its oil and gas operation and recorded a gain from the sale of $2.1 million. The sales price was $85,000 however the Company had previously established a reserve for plug and abandonment costs of $2 million. Upon the sale the Company was relieved of any plug and abandonment obligations. For the full year ended December 31, 2020 the Company reported a net loss from discontinued operations … Continue reading \"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-31T20:59:28+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results","datePublished":"2021-03-31T20:59:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/"},"wordCount":701,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/","name":"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en","datePublished":"2021-03-31T20:59:28+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/#primaryimage","url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en","contentUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210331005990r1&sid=flmnd&distro=nx&lang=en"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-concept-energy-inc-reports-fourth-quarter-and-full-year-2020-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/469161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=469161"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/469161\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=469161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=469161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=469161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}