New Concept Energy, Inc. (GBR) stock prices were up a very significant 20.19% shortly after market trading commenced on June 1st, 2021, bringing the price per share up to USD$5.06 early in the trading day. This is despite an absence of any significant recent developments, the most recent of which were the company’s financial reports for the first quarter of the fiscal year 2021, as reported on May 17th, 2021.
Net Income Breakdown
A net income applicable to common shares was reported at USD$79,000 for the three-month period ended March 31st, 2021. This was a significant improvement from the net loss of USD$34,000 from continuing operations reported for the three months ended March 31st, 2020. Net income from continuing operations for Q1 2021 was USD$79,000, the same as the net income applicable to common shares for the quarter; while Q1 2020 reported a net loss of USD$34,000, the same as their net loss from continuing operations.
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G&A Expenses
The company reported corporate general and administrative costs for the three-month period ended March 31st, 2021 at USD$74,000, down from the massive USD$104,000 reported for the same time period of the prior year. The significant difference is largely attributable to consulting fees the company paid in regard to an oil and gas matter in 2020 that was not repeated in 2021.
Other Comparative Financials
The three-month period ended March 31st, 2021 also saw the company record a tax refund carrying over from previous fiscal years that amounted to USD$91,000. The same three-month period over the prior fiscal year saw the company report a loss from discontinued operations that amounted to USD$63,000. This total amount was derived from the sale of the company’s oil and gas operations in August 2020.
Solid Liquidity Position
As of March 31st, 2021, the company reported having cash and cash equivalents totaling the amount of USD$43,000, up from the USD$27,000 reported as of December 31st, 2020. Despite the seeming lack of recent developments, the company’s promising liquidity position and surge in stock price primes GBR with ample resources to make their next move
Future Outlook for GBR
While the financial reports for the first quarter of the fiscal year 2021 are promising and indicate a strong start to what could be a prosperous upcoming rest of the year, they do not seem to adequately explain the recent activity seen by GBR stock prices. Nevertheless, the surge in value poises the company to capitalize on upcoming opportunities to usher in further growth. Current and potential investors are hopeful that the company will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
