Exhibit 99.1
| NEWS RELEASE
FOR IMMEDIATE RELEASE
| Contact:
New Concept Energy Inc. Investor Relations Gene Bertcher, (800) 400-6407 info@newconceptenergy.com
|
New Concept Energy, Inc. Reports First Quarter 2026 Results
Dallas (May 7, 2026) – 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 March 31, 2026.
The Company reported a net loss from continuing operations of ($14,000) for three months ended March 31, 2026, as compared to a net loss of ( $20,000) for the similar period in 2025.
For the three months ended March 31,2026 the Company had revenue of $39,000 including $26,000 for rental income and $13,000 in management fees. For the three months ended March 31,2025 the Company had revenue of $38,000 including $26,000 for rental income and $12,000 in management fees.
For the three months ended March 31, 2026, corporate general & administrative expenses were $77,000 as compared to $89,000 for the comparable period in 2025.
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’s website at www.newconceptenergy.com.
Contact: New Concept Energy, Inc.
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(amounts in thousands)
March 31, 2026 | December 31, 2025 | |||||||
| (Unaudited) | (Audited) | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 318 | $ | 383 | ||||
| Other current assets | 62 | 13 | ||||||
| Total current assets | 380 | 396 | ||||||
| Property and equipment, net of depreciation | ||||||||
| Land, buildings and equipment | 619 | 622 | ||||||
| Note and interest receivable - related party | ||||||||
| Note receivable | 3,542 | 3,542 | ||||||
| Interest receivable | - | - | ||||||
| 3,542 | 3,542 | |||||||
| Total assets | $ | 4,541 | $ | 4,560 | ||||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED
(dollars in thousands, except per share value amounts)
March 31, 2026 | December 31, 2025 | |||||||
| (Unaudited) | (Audited) | |||||||
| Liabilities and stockholders' equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable (including $8 due to related parties in 2026 and 2025) | $ | 25 | $ | 26 | ||||
| Accrued expenses | 39 | 43 | ||||||
| Total current liabilities | 64 | 69 | ||||||
| Stockholders' equity | ||||||||
| Preferred stock, Series B, $10 par value; authorized 100,000 shares, 1 issued and outstanding at March 31, 2026 and December 31, 2025 | 1 | 1 | ||||||
| Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at March 31, 2026 and December 31, 2025 | 51 | 51 | ||||||
| Additional paid-in capital | 63,579 | 63,579 | ||||||
| Accumulated deficit | (59,154 | ) | (59,140 | ) | ||||
| Total stockholders' equity | 4,477 | 4,491 | ||||||
| Total liabilities and stockholders' equity | $ | 4,541 | $ | 4,560 | ||||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share data)
Three Months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| Revenue | ||||||||
| Rent | $ | 26 | $ | 26 | ||||
| Management fees | 13 | 12 | ||||||
| Total Revenues | 39 | 38 | ||||||
| Operating Expenses | ||||||||
| Operating expenses | 13 | 12 | ||||||
| Corporate general and administrative | 77 | 89 | ||||||
| Total Operating Expenses | 90 | 101 | ||||||
| Loss from operations | (51 | ) | (63 | ) | ||||
| Other Income | ||||||||
| Interest income ($34 and $39 from related parties in 2026 and 2025) | 37 | 43 | ||||||
| Total Other Income | 37 | 43 | ||||||
| Net income (loss) applicable to common shares | $ | (14 | ) | $ | (20 | ) | ||
| Net income (loss) per common share-basic and diluted | $ | (0.01 | ) | $ | (0.01 | ) | ||
| Weighted average common and equivalent shares outstanding - basic and diluted | 5,132 | 5,132 | ||||||