New Concept Energy, Inc. reported a net loss of $20,000 for the first quarter of 2025, a significant decline from the net income of $2,000 recorded in the same period of 2024. The company's total revenues for the three months ended March 31, 2025, were $38,000, which included $26,000 in rental income and $12,000 in management fees. This represents a slight increase from total revenues of $36,000 in the prior year. Operating expenses rose to $101,000, up from $91,000 in the previous year, primarily due to increased corporate general and administrative costs, which increased from $78,000 to $89,000.
In terms of financial position, New Concept Energy's total assets decreased to $4.565 million as of March 31, 2025, down from $4.594 million at the end of 2024. Current assets were reported at $390,000, while current liabilities decreased to $48,000 from $57,000. The company’s cash and cash equivalents also saw a decline, ending the quarter at $333,000 compared to $363,000 at the end of the previous fiscal year. The accumulated deficit increased slightly to $59.114 million from $59.094 million.
The company continues to manage its real estate assets, owning approximately 190 acres in Parkersburg, West Virginia, which includes four structures totaling around 53,000 square feet. The main industrial/office building has a lease that generates $104,000 annually, expiring in October 2029. New Concept Energy has also maintained a note receivable from American Realty Investors, Inc., a related party, amounting to $3.542 million, which is due by September 30, 2027.
New Concept Energy is classified as a smaller reporting company and has confirmed compliance with all filing requirements under the Securities Exchange Act of 1934. The company has not experienced any significant changes in its internal controls over financial reporting during the quarter. Looking ahead, management is evaluating business opportunities to enhance income and cash flow, although no specific plans have been disclosed. The company remains cautious about future market conditions and their potential impact on operations and financial performance.
About New Concept Energy, Inc.
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