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Share Name | Share Symbol | Market | Type |
---|---|---|---|
New Concept Energy Inc | AMEX:GBR | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.0505 | 4.28% | 1.2305 | 1.26 | 1.21 | 1.21 | 10,923 | 21:43:20 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
Date of Report (Date of earliest event reported): May 15, 2019
NEW CONCEPT ENERGY, INC.
(Exact Name of Registrant as Specified in its Charter)
Nevada |
000-08187 |
75-2399477 |
|
(State or other jurisdiction of incorporation) |
(Commission File No.) |
(I.R.S. Employer Identification No.) |
|
1603 LBJ Freeway, Suite 800 Dallas, Texas |
75234 | ||
(Address of principal executive offices) | (Zip Code) | ||
Registrant’s telephone number, including area code 972-407-8400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Section 2 - Financial Information
Item 2.02 | Results of Operations and Financial Condition . |
On May 15, 2019, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended March 31, 2019. A copy of the announcement is attached as Exhibit “99.1.”
The information furnished pursuant to Item 2.02 in this Form 8-K, including Exhibit “99.1” attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless we specifically incorporate it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no duty or obligation to publicly update or revise the information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.
Section 9 – Financial Statements and Exhibits
Item 9.01 | Financial Statement and Exhibits . |
(d) Exhibits .
The following exhibit is furnished with this Report:
Exhibit No . Description
99.1* Press release dated May 15, 2019
_________________________
* Furnished herewith
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: May 16, 2019
NEW CONCEPT ENERGY, INC. | |||
By: | /s/ Gene S. Bertcher | ||
Gene S. Bertcher | |||
Executive Vice President and | |||
Chief Financial Officer |
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Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE |
Contact:
New Concept Energy Inc. Gene Bertcher (800) 400-6407 info@newconceptenergy.com |
New Concept Energy, Inc. Reports First Quarter 2019 Results
Dallas (May 15, 2019) – New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas-based oil and gas company, today reported a net income applicable to common shares for the three months ended March 31, 2019 of $126,000 or $0.02 per share, compared to net loss of $134,000 or ($0.07) per share for the three months ended March 31, 2018. During the last nine months of 2018 the Company issued 3,094,000 shares of common stock increasing the number of shares outstanding while raising $4,609,000 in cash which the Company anticipates will be used for future drilling expenses, acquisitions and working capital.
For the three months ended March 31, 2019, the Company recorded oil and gas revenues of $180,000 as compared to $204,000 for the comparable period of 2018. The reduction was principally due to the dollar amount per MCF the Company received from the sale of natural gas.
For the three months ended March 31, 2019, the Company recorded oil and gas operating expenses of $179,000 as compared to $275,000 for the comparable period of 2018. The decrease was due to a decrease in depletion and depreciation, consulting fees and general operating expenses.
For the three months ended March 31, 2019, corporate general & administrative expenses were $88,000 as compared to $74,000 for the comparable period in 2018. The increase was due, for the most part, to consulting fees paid by the Company regarding oil and gas matters.
Contact: New Concept Energy, Inc.
Gene Bertcher, (800) 400-6407
info@newconceptenergy.com
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