Posted by steve101 on 21st of Jun 2021 at 01:29 pm
You can't argue with the move in GBR. This is so crazy. It's
just that now there only asset is a rental property with 100,000 in
annual income and interest in the 23 million they got for the sale
of the properties. Has a market cap of around 27 million.
NEWS RELEASEFOR IMMEDIATE RELEASEContact:New Concept Energy Inc.Gene Bertcher(800) 400-6407 info@newconceptenergy.comNew Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 ResultsDallas (March 31, 2021) New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas based company, today reported Results of Operations
for the fourth quarter and the full year ended December 31, 2020. Discontinued Operations:In August 2020 the Company sold its oil and gas operation
and recorded a gain from the sale of $2.1 million. The sales price was $85,000 however the Company had
previously established a reserve for plug and abandonment costs of $2 million. Upon the sale the
Company was relieved of any plug and
abandonment obligations. For the full year ended December 31, 2020 the
Company reported a net loss from discontinued operations
of $170,000 as compared to net loss of $2.4 million for the
same period ended December 31, 2019. Included in the loss in 2019 is an impairment loss of $2.3
million whereby the Company had reduced the recorded value of its oil and gas operation.Continuing Operations: During the three months ended December 31,
2020 the Company reported a net loss from continuingoperations of 32K.
Revenues: Total revenues from rent for the leased property
was $101,000 in 2020 and $98,000 in 2019. Operating Expenses: Operating expenses for the real estate property
was $72,000 in 2020 and $61,000 in 2019. General and administrative expenses were $396,000
in 2020 and 418,000 in 2019. Interest Income:Interest Income was $242,000 in 2020 as compared to
$257,000 in 2019. The decrease was due to the reduction in the principal balance
outstanding due to payments received. Other Income:Other income was $85,000 in 2020 which is an income
tax refund for prior years
You can't argue with the
Posted by steve101 on 21st of Jun 2021 at 01:29 pm
You can't argue with the move in GBR. This is so crazy. It's just that now there only asset is a rental property with 100,000 in annual income and interest in the 23 million they got for the sale of the properties. Has a market cap of around 27 million. NEWS RELEASE FOR IMMEDIATE RELEASE Contact: New Concept Energy Inc. Gene Bertcher (800) 400- 6407 info@newconceptenergy.com New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2020 Results Dallas ( March 31 , 2021 ) New Concept Energy, Inc. (NYSE American: GBR), (the “Company” or “NCE”) a Dallas based company, today reported Results of Operations for the fourth quarter and the full year ended December 31, 2020 . Discontinued Operations: In Augus t 2020 the Company sold its oil and gas operation and recorded a gain from the sale of $2.1 million. The sales price was $85,000 however the Company had previously established a reserve for plug and abandonment costs of $2 million. Upon the sale the Compan y was relieved of any plug and abandonment obligations. For the full year ended December 31, 2020 the Company reported a net loss from discontinued operations of $170,000 as compared to net loss of $2.4 million for the same period ended December 31, 2019. Included in the loss in 2019 is an impairment loss of $2.3 million whereby the Company had reduced the recorded value of its oil and gas operation. Continuing Operations: During the three months ended December 31, 2020 the Company reported a net loss from continuingoperations of 32K. Revenues: Total revenues from rent for the leased property was $101,000 in 2020 and $98,000 in 2019. Operating Expenses : Operating expenses for the real estate property was $72,000 in 2020 and $61,000 in 2019. General and administrative expenses were $396,000 in 2020 and 418,000 in 2019. Interest Income : Interest Income was $242,000 in 2020 as compared to $257,000 in 2019. The decrease was due to the reduction in the principal balance outstanding due to payments received. Other Income : Other income was $85,000 in 2020 which is an income tax refund for prior years
you're much more versed with
Posted by matt on 21st of Jun 2021 at 01:50 pm
you're much more versed with GBR than I am Steve, I just posted it because of the chart, thx for the additional details
that's 2.3 million from which
Posted by steve101 on 21st of Jun 2021 at 01:30 pm
that's 2.3 million from which they get interest income. A pure Reddit play. No real value.