New Concept Energy Business Summary

New Concept Energy, Inc. (GBR) operates as a micro-cap asset holding company that generates revenue through two primary segments: real estate rental and management advisory services. The company’s revenue model is centered on passive income, primarily derived from leasing its 190-acre industrial property in Parkersburg, West Virginia, which features approximately 53,000 square feet of building space. Additionally, GBR earns management fees by providing advisory services to third-party oil and gas operators. A significant portion of the company’s valuation and total income is tied to a large related-party note receivable, which accounts for approximately 78% of its total assets as of early 2026. In the competitive landscape, GBR occupies a niche as a lean, asset-heavy entity that has largely pivoted away from active exploration to focus on stable cash flows, positioning it between small-cap energy firms like Barnwell Industries and Enservco, and real estate investment peers such as American Realty Investors and FRP Holdings. The leadership of New Concept Energy is highly centralized under Gene S. Bertcher, who serves as the Chairman, President, Chief Executive Officer, Chief Financial Officer, and Treasurer. Bertcher, a Certified Public Accountant with over 36 years of tenure at the company, previously served as the CFO of Pillar Income Asset Management and has extensive experience in real estate and construction committees. The Board of Directors includes independent members Richard W. Humphrey, Dan Locklear, Cecelia Maynard, and Robert C. Canham II, most of whom bring backgrounds in real estate brokerage and financial management. The company’s ownership structure is characterized by high insider and affiliate concentration; notable major shareholders include Arcadian Energy Inc., which holds a majority stake, and Realty Advisors, Inc., an entity associated with the May Trust and the family of the late real estate magnate Gene E. Phillips.