Cover
Cover | Mar. 22, 2022 |
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Mar. 22, 2022 |
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 300 |
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 $0.01 |
Trading Symbol | GBR |
Security Exchange Name | NYSEAMER |
Entity Emerging Growth Company | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | $ 252 | $ 27 |
Current portion note receivable (including $3,560 and $3,631 in 2021 and 2020 from related parties) | 3,560 | 3,683 |
Other current assets | 92 | |
Total current assets | 3,812 | 3,802 |
Property and equipment, net of depreciation | ||
Land, buildings and equipment | 643 | 656 |
Note Receivable | 153 | |
Total assets | $ 4,455 | $ 4,611 |
CONSOLIDATED BALANCE SHEETS - C
CONSOLIDATED BALANCE SHEETS - CONTINUED - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current liabilities | ||
Accounts payable - trade (including $3 and $55 in 2021 and 2020 due to related parties) | $ 28 | $ 80 |
Accrued expenses | 32 | 32 |
Current portion of long term debt | 52 | |
Total current liabilities | 60 | 164 |
Long-term debt | ||
Notes payable less current portion | 122 | |
Total liabilities | 60 | 286 |
Stockholders' equity | ||
Series B convertible preferred stock, $10 par value, liquidation value of $100 authorized 100 shares, issued and outstanding one share | 1 | 1 |
Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 shares at December 31, 2021 and 2020 | 51 | 51 |
Additional paid-in capital | 63,579 | 63,579 |
Accumulated deficit | (59,236) | (59,306) |
Total stockholders’ equity | 4,395 | 4,325 |
Total liabilities & stockholders' equity | $ 4,455 | $ 4,611 |
CONSOLIDATED BALANCE SHEETS -_2
CONSOLIDATED BALANCE SHEETS - CONTINUED (Parenthetical) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Accounts Payable, Related Parties, Current | $ 3,000 | $ 55,000 |
Preferred Stock, Par or Stated Value Per Share | $ 10 | $ 10 |
Preferred Stock, Liquidation Preference, Value | $ 100 | $ 100 |
Preferred Stock, Shares Authorized | 100 | 100 |
Preferred Stock, Shares Issued | 1 | 1 |
Preferred Stock, Shares Outstanding | 1 | 1 |
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, Outstanding | 5,131,934 | 5,131,934 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | |||
Rent | $ 101 | $ 101 | $ 98 |
Total Revenues | 101 | 101 | 98 |
Operating expenses | |||
Operating Expenses | 77 | 72 | 61 |
Corporate general and administrative | 360 | 396 | 418 |
Total Operating Expenses | 437 | 468 | 479 |
Operating loss | (336) | (367) | (381) |
Other income (expense) | |||
Interest income (including $212 and $226 for the year ended 2021 and 2020 from related parties) | 220 | 242 | 257 |
Interest expense | (5) | (12) | (15) |
Other income (expense), net | 191 | 85 | 199 |
406 | 315 | 441 | |
Net income (loss) from continuing operations | 70 | (52) | 60 |
Net income (loss) from discontinued operations | |||
Gain (loss) from discontinued operations | (170) | (2,412) | |
1,968 | (2,412) | ||
Net income (loss) applicable to common shares | $ 70 | $ 1,916 | $ (2,352) |
Net income (loss) per common share-basic and diluted | $ 0.01 | $ 0.37 | $ (0.46) |
Weighted average common and equivalent shares outstanding - basic | 5,132 | 5,132 | 5,132 |
CONSOLIDATED STATEMENTS OF OP_2
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||
Interest Income, Related Party | $ 212 | $ 226 |