8-K

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):   November 14, 2017

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 300 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 November 14, 2017, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended September 30, 2017. 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 Statements and Exhibits

(d) Exhibits.

The following exhibit is furnished with this Report:

Exhibit
Designation	Description of Exhibit
99.1*	Press Release dated November 14, 2017

_________________________

* 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: November 15, 2017 NEW CONCEPT ENERGY, INC.     By: /s/ Gene S. Bertcher Gene S. Bertcher, President and Chief Financial Officer

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EX-99

NEWS RELEASE FOR IMMEDIATE RELEASE Contact: New Concept Energy Inc. Investor Relations Gene Bertcher, (800) 400-6407 info@newconceptenergy.com  

New Concept Energy, Inc. Reports Third Quarter 2017 Results

Dallas (November 14, 2017) – New Concept Energy, Inc. (NYSE American: GBR), ( the “Company” or “NCE”) a Dallas-based oil and gas company, today reported a net loss for the three months ended September 30, 2017 of $101,000 or ($0.05) per share, compared to a net loss of $164,000 or ($0.08) per share for the three months ended September 30, 2016.

At March 30, 2017 the Company’s operating lease expired at the retirement center it operated in Oregon. The operations of the retirement center are reflected as a discontinued operations.

The net loss from continuing operations was $90,000 for the three months ended September 30, 2017 compared to a net loss of $170,000 for the similar period in the prior year.

For the nine months ended September 30, 2017 the Company reported a net loss of $397,000 or ($0.20) per share as compared to a net loss of $593,000 or ($0.30) per share for the similar period in 2016.

For the three months ended September 30, 2017, the Company recorded oil and gas revenues, net of royalty expenses of $194,000 as compared to $190,000 for the comparable period of 2016.

For the three months ended September 30, 2017, the Company recorded oil and gas operating expenses of $254,000 as compared to $295,000 for the comparable period of 2016. The decrease was principally due to a reduction of depletion expenses as well as general operating expenses.

For the three months ended September 30, 2017, corporate general & administrative expenses were $95,000 as compared to $52,000 for the comparable periods in 2016. The increase was due to overall operating expenses during the quarter.

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(unaudited)
(amounts in thousands)
	September 30, 2017		December 31, 2016
Assets
Current assets
Cash and cash equivalents	$	427	$	113
Accounts receivable from oil and gas sales		129		119
Other current assets		61		206
Total current assets		617		438
Oil and natural gas properties (full cost accounting method)
Proved developed and undeveloped oil and gas properties, net of depletion		5,428		5,608
Property and equipment, net of depreciation
Land, buildings and equipment - oil and gas operations		675		706
Other		—		25
Total property and equipment		675		731
Other assets		308		401
Total assets	$	7,028	$	7,178

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - CONTINUED
(unaudited)
(amounts in thousands, except share amounts)
	September 30, 2017			December 31, 2016
Liabilities and stockholders' equity
Current liabilities
Accounts payable - trade (including $513 and $160 at 2017 and 2016 due to related parties)	$	525		$	238
Accrued expenses		67			59
Current portion of long term debt		85			96
Total current liabilities		677			393
Long-term debt
Notes payable less current portion		259			296
Asset retirement obligation		2,770			2,770
Total liabilities		3,706			3,459
Stockholders' equity
Preferred stock, Series B		1			1
Common stock, $.01 par value; authorized, 100,000,000
shares; issued and outstanding, 1,946,934 shares
at September 30, 2017 and December 31, 2016		20			20
Additional paid-in capital		58,838			58,838
Accumulated deficit		(55,537	)		(55,140	)
		3,322			3,719
Total liabilities & equity	$	7,028		$	7,178

NEW CONCEPT ENERGY, INC AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(unaudited)
(amounts in thousands, except per share data)
	For the Three Months ended September 30,						For the Nine Months ended September 30,
	2017			2016			2017			2016
Revenue
Oil and gas operations, net of royalties	$	194		$	190		$	632		$	579
Total Revenue		194			190			632			579
Operating expenses
Oil and gas operations		254			295			766			924
Corporate general and administrative		95			52			317			319
		349			347			1,083			1,243
Operating earnings (loss)		(155	)		(157	)		(451	)		(664	)
Other income (expense)
Interest income		5			6			20			17
Interest expense		(6	)		(8	)		(19	)		(26	)
Other income (expense), net		66			(11	)		51			(21	)
Other income (expense)		65			(13	)		52			(30	)
Loss from continuing operations	$	(90	)	$	(170	)	$	(399	)	$	(694	)
Earnings (loss) from discontinued operations		(11	)		6			2			101
Net loss applicaable to common shares		(101	)		(164	)		(397	)		(593	)
Net income (loss) per common share-basic and diluted	$	(0.05	)	$	(0.08	)	$	(0.20	)	$	(0.30	)
Weighted average common and equivalent shares outstanding		1,947			1,947			1,947			1,947