Current Report Filing (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): May 15, 2014

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))

Section 2 – Financial Information

Item 2.02. Results of Operations and Financial Condition

On May 15, 2014, New Concept Energy, Inc. (“GBR” or the “Company”) announced its operational results for the quarter ended March 31, 2014. 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 May 15, 2014.
_____________________ *Furnished herewith.

- 2 -

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: May 16, 2014

NEW CONCEPT ENERGY, INC.

By: /s/ Gene S. Bertcher

Gene S. Bertcher, President and Chief

Financial Officer

- 3 -

NEW CONCEPT ENERGY, INC AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(unaudited)
(amounts in thousands, except per share data)

	For the Three Months ended March 31,
	2014			2013
Revenue
Oil and gas operations, net of royalties	$	344		$	340
Real estate operations		725			680
		1,069			1,020


Operating expenses
Oil and gas operations		483			456
Real estate operations		396			386
Real Estate - Lease expense		240			236
Corporate general and administrative		192			173
		1,311			1,251
Operating earnings (loss)		(242	)		(231	)

Other income (expense)
Interest income		1			6
Interest expense		(31	)		(49	)
Recovery of bad debt expense		-			339
Other income (expense), net		232			(34	)
Expense		202			262


Net income (loss) applicable to common shares	$	(40	)	$	31

Net income (loss) per common share-basic and diluted	$	(0.02	)	$	0.02

Weighted average common and equivalent shares outstanding - basic		1,947			1,947

NEW CONCEPT ENERGY, INC. AND SUBSIDARIES
CONSOLIDATED BALANCE SHEETS
(unaudited)
(amounts in thousands)
	March 31, 2014		December 31, 2013

Assets

Current assets
Cash and cash equivalents	$	443	$	1,621
Accounts receivable from oil and gas sales		168		195
Other current assets		201		203
Total current assets		812		2,019


Oil and natural gas properties (full cost accounting method)
Proved developed and undeveloped oil and gas properties, net of depletion		9,025		9,190

Property and equipment, net of depreciation
Land, buildings and equipment - oil and gas operations		1,422		1,442
Other		188		183
Total property and equipment		1,610		1,625

Other assets (including $123,000 and $122,000 due from related parties
in 2014 and 2013		1,145		474

Total assets	$	12,592	$	13,308

NEW CONCEPT ENERGY, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - CONTINUED
(unaudited)
(amounts in thousands, except share amounts)

	March 31, 2014			December 31, 2013

Liabilities and stockholders' equity

Current liabilities
Accounts payable - trade	$	303		$	121
Accrued expenses		175			965
Current portion of long term debt		185			185
Total current liabilities		663			1,271

Long-term debt
Notes payable less current portion		2,127			2,195
Asset retirement obligation		2,770			2,770
Total liabilities		5,560			6,236

Stockholders' equity
Preferred stock, Series B		1			1
Common stock, $.01 par value; authorized, 100,000,000
shares; issued and outstanding, 1,946,935 shares
at March 31, 2014 and December 31, 2013		20			20
Additional paid-in capital		58,838			58,838
Accumulated deficit		(51,827	)		(51,787	)

		7,032			7,072

Total liabilities & equity	$	12,592		$	13,308