New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2023 Results
During the three months ended
For the full year ended
Fiscal 2023 as compared to 2022
Revenues: Revenues from rent for the leased property was
Operating Expenses: Operating expenses for the real estate property was
Interest Income:Interest Income was
Other Income:Other income was
About
|
||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||
(amounts in thousands) | ||||||||
At |
||||||||
|
2023 |
|
|
2022 |
|
|||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents |
$ |
447 |
$ |
436 |
||||
Other current assets |
|
12 |
|
|
30 |
|
||
Total current assets |
|
459 |
|
|
466 |
|
||
Property and equipment, net | ||||||||
Land, buildings and equipment |
|
629 |
|
|
631 |
|
||
Note Receivable - related party |
|
3,542 |
|
|
3,542 |
|
||
Total assets |
$ |
4,630 |
|
$ |
4,639 |
|
|
|||||||
CONSOLIDATED BALANCE SHEETS - CONTINUED | |||||||
(amounts in thousands, except share amounts) | |||||||
At |
|||||||
|
2023 |
|
|
|
2022 |
|
|
Liabilities and stockholders' equity | |||||||
Current liabilities | |||||||
Accounts payable - trade (including |
$ |
36 |
|
$ |
23 |
|
|
Accrued expenses |
|
39 |
|
|
40 |
|
|
Total current liabilities |
|
75 |
|
|
63 |
|
|
Stockholders' equity | |||||||
Series B convertible preferred stock, |
|||||||
of |
|
1 |
|
|
1 |
|
|
Common stock, |
|||||||
shares; issued and outstanding, 5,131,934 shares | |||||||
at |
|
51 |
|
|
51 |
|
|
Additional paid-in capital |
|
63,579 |
|
|
63,579 |
|
|
Accumulated deficit |
|
(59,076 |
) |
|
(59,055 |
) |
|
|
4,555 |
|
|
4,576 |
|
||
Total liabilities & stockholders' equity |
$ |
4,630 |
|
$ |
4,639 |
|
|
|||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||
(amounts in thousands, except per share data) | |||||||||||
Year Ended |
|||||||||||
|
2023 |
|
|
|
2022 |
|
|
|
2021 |
|
|
Revenue | |||||||||||
Rent |
$ |
101 |
|
$ |
101 |
|
$ |
101 |
|
||
Management Fee |
|
51 |
|
|
111 |
|
|
- |
|
||
|
152 |
|
|
212 |
|
|
101 |
|
|||
Operating Expenses | |||||||||||
Operating Expenses |
|
57 |
|
|
57 |
|
|
77 |
|
||
Corporate general and administrative |
|
338 |
|
|
317 |
|
|
360 |
|
||
Total Operating Expenses |
|
395 |
|
|
374 |
|
|
437 |
|
||
Operating loss |
|
(243 |
) |
|
(162 |
) |
|
(336 |
) |
||
Other Income (Expense) | |||||||||||
Interest income from a related party |
|
213 |
|
|
212 |
|
|
212 |
|
||
Interest income |
|
9 |
|
|
- |
|
|
8 |
|
||
Interest expense |
|
- |
|
|
- |
|
|
(5 |
) |
||
Other income |
|
- |
|
|
131 |
|
|
191 |
|
||
Total Other income (Expense) |
|
222 |
|
|
343 |
|
|
406 |
|
||
Net income (loss) applicable to common shares |
$ |
(21 |
) |
$ |
181 |
|
$ |
70 |
|
||
Net income (loss) per common share-basic and diluted |
$ |
(0.01 |
) |
$ |
0.04 |
|
$ |
0.01 |
|
||
Weighted average common and equivalent shares outstanding - basic and diluted |
|
5,132 |
|
|
5,132 |
|
|
5,132 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240401334041/en/
info@newconceptenergy.com
Source: