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New Concept Energy, Inc. Reports First Quarter 2024 Results

DALLAS--(BUSINESS WIRE)-- New Concept Energy, Inc. (NYSE American: GBR), (the 鈥淐ompany鈥� or 鈥淣CE鈥�) a Dallas-based company, today reported Results of Operations for the first quarter ended March 31, 2024.

During the three months ended March 31, 2024, the Company reported net income applicable to common shares of $2,000, compared to net income of $17,000 for the three months ended March 31, 2023.

For the three months ended March 31,2024 the Company had revenue of $36,000 including $25,000 for rental income and $11,000 in management fees. Revenue for the three months ended March 31,2023 was $45,000.

For the three months ended March 31, 2024, corporate general & administrative expenses were $78,000 as compared to $68,000 for the comparable periods in 2023.

For the three months ended March 31, 2024 and 2023 interest income was $57,000 and $52,000.

About New Concept Energy, Inc.

New Concept Energy, Inc. is a Dallas-based company which owns real estate in West Virginia and provides management services for a third party oil and gas company. For more information, visit the Company鈥檚 website at .

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New Concept Energy, Inc.

Gene Bertcher, (800) 400-6407

[email protected]

Source: New Concept Energy, Inc.