New Concept Energy Announces Third Quarter 2024 Operational Results

New Concept Energy, Inc. (NYSE:GBR) recently disclosed its operational outcomes for the quarter ending September 2024 in a Form 8-K filing with the Securities and Exchange Commission. The company reported a net loss of ($4,000) for the third quarter of 2024, as compared to a net income of $7,000 for the corresponding period in 2023.

Revenue for the three months concluded on September 30, 2024, stood at $37,000, comprising $26,000 from rental revenue and $11,000 from management fees. This is slightly higher than the revenue of $35,000 reported in the same quarter of 2023, with $25,000 from rental revenue and $10,000 from management fees.

Furthermore, corporate general and administrative expenses for the quarter amounted to $79,000, up from $70,000 in the year-ago period. Interest income for the quarter was $52,000, a slight decrease from $57,000 reported during a similar quarter in 2023.

New Concept Energy, Inc., headquartered in Dallas, owns real estate assets in West Virginia and offers management services to a third-party oil and gas enterprise. For further information, interested individuals may refer to the company’s website at www.newconceptenergy.com.

The information shared in the Form 8-K about New Concept Energy, including the attached Exhibit “99.1,” which contains the detailed announcement, should be noted as not filed for the purposes of Section 18 of the Securities Exchange Act of 1934, unless explicitly incorporated by reference in future filings under the Securities Act of 1933 or the Securities Exchange Act of 1934. The company does not hold any obligation to publicly update or revise the provided information.

The report also includes financial statements and an exhibit showcasing the financial results for the quarter ended September 30, 2024. These detailed financial results shed light on the revenue breakdown, operating expenses, and net income figures for the specified period.

For more information on New Concept Energy’s financial performance and updates, investors and stakeholders can refer to the company’s official website or contact the Investor Relations department directly.

The information above is a summary of the essential details provided in the Form 8-K filing by New Concept Energy, Inc. dated November 13, 2024. Investors are encouraged to access the complete document for comprehensive insights into the company’s operational and financial performance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read New Concept Energy’s 8K filing here.

New Concept Energy Company Profile

New Concept Energy, Inc engages in real estate rental business. The company owns approximately 190 acres of land located in Parkersburg West Virginia. It also provides advisory and management services for an independent oil and gas company. The company was formerly known as CabelTel International Corporation and changed its name to New Concept Energy, Inc in May 2008.