Cover
Cover | Nov. 10, 2021 |
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Nov. 10, 2021 |
Entity File Number | 000-08187 |
Entity Registrant Name | NEW CONCEPT ENERGY, INC. |
Entity Central Index Key | 0000105744 |
Entity Tax Identification Number | 75-2399477 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 1603 LBJ Freeway |
Entity Address, Address Line Two | Suite 800 |
Entity Address, City or Town | Dallas |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 75234 |
City Area Code | 972 |
Local Phone Number | 407-8400 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $0.01 |
Trading Symbol | GBR |
Security Exchange Name | NYSEAMER |
Entity Emerging Growth Company | false |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | $ 249 | $ 27 |
Current portion note receivable (including $3,637 and $3,631 in 2021 and 2020 from related parties | 3,596 | 3,683 |
Other current assets | 38 | 92 |
Total current assets | 3,883 | 3,802 |
Property and equipment, net of depreciation | ||
Land, buildings and equipment | 647 | 656 |
Note receivable | 0 | 153 |
Total assets | 4,530 | 4,611 |
Current liabilities | ||
Accounts payable - (including $33 and $55 due to related parties in 2021 and 2020) | 66 | 80 |
Accrued expenses | 19 | 32 |
Current portion of long term debt | 0 | 52 |
Total current liabilities | 85 | 164 |
Long-term debt | ||
Notes payable less current portion | 0 | 122 |
Total liabilities | 85 | 286 |
Stockholders' equity | ||
Preferred stock, Series B | 1 | 1 |
at September 30, 2021 and December 31, 2020 | 51 | 51 |
Additional paid-in capital | 63,579 | 63,579 |
Accumulated deficit | (59,186) | (59,306) |
Total shareholder equity | 4,445 | 4,325 |
Total liabilities & equity | $ 4,530 | $ 4,611 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
[custom:CurrentPortionNotesReceivableRelatedParties-0] | $ 3,637 | $ 3,631 |
Accounts Payable, Related Parties, Current | $ 33 | $ 55 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 5,131,934 | 5,131,934 |
Common Stock, Shares, Outstanding | 5,131,934 | 5,131,934 |
CONSOLIDATED STATEMENT OF OPERA
CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue | ||||
Rent | $ 25 | $ 25 | $ 76 | $ 76 |
Operating expenses | ||||
Operating Expenses | 34 | 15 | 71 | 46 |
Corporate general and administrative | 53 | 65 | 238 | 296 |
Total operating expenses | 87 | 80 | 309 | 342 |
Operating earnings (loss) | (62) | (55) | (233) | (266) |
Other income (expense) | ||||
Interest income from a related party | 53 | 54 | 159 | 172 |
Interest income from a third party | 2 | 3 | 8 | 12 |
Interest expense | (1) | (3) | (5) | (9) |
Other income (expense), net | 83 | 191 | 83 | |
54 | 137 | 353 | 258 | |
Earnings (loss) from continuing operations | (8) | 82 | 120 | (8) |
Discontinued Operations | ||||
Loss from discontinued operations | 0 | (38) | 0 | (182) |
Gain from disposal of oil & gas operations | 0 | 2,138 | 0 | 2,138 |
0 | 2,100 | 0 | 1,956 | |
Earnings (loss) applicable to common shares | $ (8) | $ 2,182 | $ 120 | $ 1,948 |
Net income (loss) per common share-basic and diluted | $ 0.01 | $ 0.43 | $ 0.02 | $ 0.38 |
Weighted average common and equivalent shares outstanding - basic | 5,132 | 5,132 | 5,132 | 5,132 |