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].

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 SEPTEMBER 30, 2024 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. (Exact Name of Registrant as Specified in Its Charter) Nevada (State or Other Jurisdiction of Incorporation or Or ...

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].

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 June 30, 2024 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. Nevada 75-2399477 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) ...

EXHIBIT 99.1 | --- | --- | |---------------------------|-------------------------------------| | NEWS RELEASE | Contact: | | FOR IMMEDIATE RELEASE | New Concept Energy Inc. | | | Investor Relations | | | Gene Bertcher, (800) 400-6407 | | | info@newconceptenergy.com | New Concept Energy, Inc. Reports First Quarter 2024 Results Dallas (May 9, 2024) – New Concept Energy, Inc. (NYSE American: GBR), (the "Company" or "NCE") a Dallas-based company, today reported Results of Operations for the first quarter ended ...

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, 2024 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. Nevada 75-2399477 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) ...

Revenue and Income - The Company reported revenues from rent for the leased property of $101,000 in both 2023 and 2022[32]. - Management fees from oil and gas operations decreased to $51,000 in 2023 from $111,000 in 2022, attributed to a decline in oil and gas prices[32]. - Revenue for the year ended December 31, 2023, was $152 million, down from $212 million in 2022, a decrease of 28.3%[110]. - Operating revenue was $152,000, down from $212,000 in 2022, while total operating expenses increased to $395,000 from $362,000[147]. - The company reported interest income from a related party of $213 million in 2023, slightly up from $212 million in 2022[110]. - The effective income tax rate for 2023 was 0.00%, consistent with 2022, reflecting no income tax expense due to net operating losses[141]. Expenses and Losses - Operating expenses for the real estate property remained stable at $57,000 in both 2023 and 2022, while general and administrative expenses increased to $338,000 in 2023 from $317,000 in 2022[32]. - Operating loss increased to $(243) million in 2023 from $(162) million in 2022, reflecting a worsening of 50%[110]. - Net income applicable to common shares was $(21) million in 2023, compared to a net income of $181 million in 2022, indicating a significant decline[110]. - The company recognized interest income of $222,000 in 2023, compared to $374,000 in 2022, indicating a decrease in interest income[147]. - The company’s total accumulated depreciation increased to $155,000 in 2023 from $142,000 in 2022, reflecting ongoing asset depreciation[135]. Assets and Liabilities - The Company had current assets of $459,000 and current liabilities of $75,000 as of December 31, 2023[31]. - Total assets decreased from $4,639 million in December 2022 to $4,630 million in December 2023, a decline of approximately 0.2%[106]. - Current liabilities increased from $63 million in December 2022 to $75 million in December 2023, representing a rise of 19%[105]. - As of December 31, 2023, the company reported total fixed assets of $784,000, an increase from $773,000 in 2022, with net fixed assets at $629,000 compared to $631,000 in the previous year[135]. - The accumulated deficit increased from $(59,055) million in December 2022 to $(59,076) million in December 2023[106]. Cash and Investments - Cash and cash equivalents totaled $447,000 at December 31, 2023, up from $436,000 at the end of 2022[31]. - The company maintains cash balances at financial institutions insured up to $250,000, with no significant concentration of credit risk reported as of December 31, 2023[144]. - The company has a significant note receivable of $3.5 million from a related party, which is crucial for meeting current cash obligations[119]. Corporate Governance - The Audit Committee met five times in 2023, with all members meeting independence requirements as per SEC regulations[52]. - The Audit Committee is chaired by Dan Locklear, who is qualified as an "audit committee financial expert" under SEC regulations[52]. - The Company has adopted a code of ethics applicable to all directors, officers, and employees, which is available on its website[58]. - The Board of Directors held five meetings in 2023, with no director attending fewer than 75% of the meetings[51]. - All directors and executive officers collectively own 0% of the Company's common stock as of March 29, 2024[69]. Audit and Compliance - The Company’s internal control over financial reporting was assessed as effective as of December 31, 2023[37]. - The Audit Committee actively monitors spending levels and work content to maintain auditor independence[78]. - The Audit Committee is responsible for pre-approving audit and non-audit services to ensure auditor independence[79]. - The Company has adopted a pre-approval policy for audit and non-audit services to comply with SEC rules[79]. - There were no critical audit matters identified during the audit of the financial statements for the year ended December 31, 2022[89]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[153]. - The financial statements were made available for issuance on March 28, 2024, indicating ongoing financial health and operational readiness[155].

Financial Performance - Total revenues for the three months ended September 30, 2023, were $35,000, a decrease of 44.4% compared to $63,000 for the same period in 2022[15] - Net income applicable to common shares for the three months ended September 30, 2023, was $7,000, compared to $27,000 for the same period in 2022, representing a decline of 74.1%[15] - For the three months ended September 30, 2023, the company reported net income of $7,000, a decrease of 74% compared to net income of $27,000 for the same period in 2022[44] - For the nine months ended September 30, 2023, the company reported net income of $18,000, down 89% from $170,000 for the same period in 2022[45] - Total revenue for the nine months ended September 30, 2023 was $155,000, including $76,000 from rental revenue and $39,000 from management fees, compared to $155,000 in total revenue for the same period in 2022[45] Expenses and Liabilities - Operating expenses for the three months ended September 30, 2023, were $85,000, a decrease of 4.5% from $89,000 in the prior year[15] - Corporate general and administrative expenses for the nine months ended September 30, 2023 were $219,000, a decrease from $231,000 for the same period in 2022[45] - Total liabilities as of September 30, 2023, were $64,000, compared to $63,000 as of December 31, 2022, indicating a marginal increase[11] Cash and Assets - Cash and cash equivalents at the end of the period were $460,000, an increase of 5.5% from $436,000 at the beginning of the year[18] - Total assets as of September 30, 2023, were $4,658,000, a slight increase from $4,639,000 as of December 31, 2022[9] - Cash and cash equivalents at September 30, 2023 were $460,000, an increase from $436,000 at December 31, 2022[43] - The company maintains cash balances at financial institutions that are insured up to $250,000, with cash balances exceeding federal insurance limits at times during the year[37] Business Operations and Strategy - The company did not report any new product launches or significant market expansion strategies during this quarter[15] - The company is evaluating business opportunities to provide additional income and cash flow[36] - The company has a note receivable of $3,542,000 due from American Realty Investors, Inc., with a maturity date extended to September 2025[34] Market and Growth Projections - The company reported a significant increase in revenue, achieving $150 million for the quarter, representing a 25% year-over-year growth[57] - User data showed a total of 1.2 million active users, up from 1 million in the previous quarter, indicating a 20% increase[57] - The company provided guidance for the next quarter, projecting revenue between $160 million and $170 million, which would reflect a growth rate of 7% to 13%[57] - New product launches are expected to contribute an additional $10 million in revenue over the next quarter[57] - The company is expanding its market presence in Europe, targeting a 15% market share by the end of the fiscal year[57] Research and Development - Research and development expenses increased by 30% to $5 million, focusing on innovative technologies[57] Strategic Initiatives - The company announced a strategic acquisition of a smaller competitor for $20 million, aimed at enhancing its product offerings[57] - Operating income for the quarter was reported at $30 million, with a margin of 20%[57] - The company plans to implement cost-cutting measures to improve profitability, targeting a reduction of $2 million in operational expenses[57] - The management expressed confidence in achieving long-term growth, emphasizing a commitment to shareholder value[57]