Past year: ▼ 19%(67.0c – 91.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
14 Apr 2026capital raising announcement● NeutralMajor
Realty Advisors is back for a second round, agreeing to buy 2 million more shares at $1.00-plus per share, pending shareholder and NYSE approval and again structured as a deemed change of control -- continuing the insider-funded pattern that has kept New Concept Energy listed since 2008.
24 Jan 2024auditor change● Neutral
Engaged Turner Stone & Company as the new auditor for fiscal 2023, filling the vacancy left by Swalm's retirement.
8 Jan 2024auditor change● Neutral
Auditor Swalm & Associates -- in the role since 2008 -- is stepping down as its principal retires; no disagreements were reported.
11 Mar 2020listing compliance notice● Neutral
NYSE accepted another compliance plan, extending the deadline to December 2020.
20 Dec 2019listing compliance notice▼ BadMajor
A year after the Realty Advisors capital injection, NYSE flagged New Concept Energy again: equity had grown to $2.4M but still fell short of the minimum, with losses in three of the last four years -- the company now describes itself simply as an Ohio/West Virginia oil and gas operator, with the CableTEL and Fayetteville chapters closed.
6 Dec 2018capital raising announcement▲ GoodMajor
Closed the Realty Advisors investment: $4.5M for 3 million shares, approved by shareholders and NYSE, giving Realty Advisors 59.6% and a deemed change of control -- proceeds earmarked for overdue payables and the first of a four-well drilling program.
16 July 2018listing compliance notice● Neutral
NYSE accepted the compliance plan built around the pending Realty Advisors investment, extending the deadline to October 2019.
21 June 2018capital raising announcement▲ GoodMajor
Lined up a fix: Realty Advisors, a related party already holding a small stake and sharing an officer with the company, agreed to buy 3 million new shares for $4.5M pending a shareholder vote -- echoing the 2008 URC Energy rescue that cured the last listing crisis.
27 Apr 2018listing compliance notice▼ BadMajor
A decade after the AMEX brush with delisting, New Concept Energy again fell short of listing standards -- this time NYSE American, citing just $0.6M in stockholders' equity and losses in three of the last four years.
21 Nov 2008auditor change● Neutral
Replaced Farmer, Fuqua & Huff with Swalm & Associates as auditor for fiscal 2008, citing a lower fee quote; no disagreements with the outgoing firm were reported.
25 Sept 2008asset acquisition disposition▲ GoodMajor
Deployed the XTO windfall into a much bigger position, winning a bankruptcy-court bid for Carl E. Smith Inc. and its affiliates -- 94 producing and 121 non-producing gas wells across 20,000 acres in Ohio and West Virginia -- for about $13.9M cash plus deferred payments; renamed the acquired business Mountaineer State Energy and the parent company itself New Concept Energy, Inc.
14 May 2008asset acquisition disposition▲ GoodMajor
Sold all its Fayetteville Shale acreage -- the original 1,712 net acres plus 2,398 more from exercised options -- to XTO Energy for about $16.4M cash and a $14.5M after-tax gain, just four months after acquiring the leases; said it would keep pursuing other oil and gas opportunities.
25 Mar 2008capital raising announcement▲ GoodMajor
URC Energy, a Gene Phillips-controlled entity, closed a $2.85M purchase of 950,000 new shares, taking it to just over 49% and Phillips-affiliated holders to about 69% in aggregate -- a deemed change of control that cured the AMEX equity shortfall and got the pending delisting appeal cancelled.
8 Feb 2008capital raising announcement● NeutralMajor
CabelTel disclosed that URC Energy LLC (owned by Gene Phillips) will buy 950,000 new shares at $3 each ($2.85M cash), roughly doubling the shares outstanding from 986,939 to 1,936,939. URC would hold about 49%, and with the other Phillips-affiliated holders about 69%, a deemed change of control; shares are expected to be issued around February 29, 2008. Existing shareholders are heavily diluted. The filing says proceeds will be held as working capital and may fund seismic work and drilling or acreage consolidation on the Cleburne County, Arkansas leasehold. This is the equity raise that follows the October 2007 AMEX delisting notice, which cited a failure to raise $2.1M in equity; the filing itself does not mention the listing issue (inference).
What it means for a shareholder
950,000 new shares at US$3.00 to raise about US$2.9m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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24 Jan 2008material agreement● Neutral
Amended the Fayetteville Arkansas 8-K to disclose the fuller related-party picture: the company had separately loaned Eurenergy's parent $1.4M back in 2006, and that parent is 20%-owned by an entity related to the company.
24 Jan 2008asset acquisition disposition● Neutral
Exited its last piece of the old real-estate business, transferring the Gainesville, Texas outlet mall to a buyer who assumed the roughly $6.5M mortgage -- no cash changed hands and no gain or loss was recorded.
18 Jan 2008material agreement▲ GoodMajor
Moved on the Fayetteville Shale mineral rights AMEX had flagged as overdue, acquiring about 1,712 net acres in Arkansas from Eurenergy Arkansas LLC (an entity the company already does paid bookkeeping work for) via a $4,000/acre note, plus options on more acreage.
23 Oct 2007listing compliance notice▼ BadMajor
AMEX moved to delist the company outright, saying it missed its compliance-plan milestones -- including failing to raise the required $2.1M in equity and failing to close the Fayetteville Shale mineral-rights acquisition it had promised -- though the company is appealing.
5 Dec 2006asset acquisition disposition▲ Good
Settled a $3.1M debt owed to the family of the company's late CEO James Gilley by handing over two long-term housing revenue bonds and a smaller cash-flow interest, adding about $1M to net equity -- a step toward the AMEX capital shortfall flagged in August.
13 Nov 2006listing compliance notice● Neutral
AMEX accepted a compliance plan and extended the listing deadline to December 2007, but requires periodic progress updates and public disclosure of the ongoing shortfall.
28 Aug 2006listing compliance notice▼ BadMajor
AMEX warned the newly renamed CabelTel International -- now down to a shrunken remaining oil and real-estate portfolio after the CableTEL rescission -- that it falls below minimum shareholders'-equity listing standards, with a compliance plan due within a month.
10 July 2006asset acquisition disposition▼ Bad
Sold the original 2003 Gaywood oil and gas leases (Gregg/Rusk Counties, East Texas) to the father-son operators who had been running them, for $1.7M cash plus notes -- closing out the company's first oil venture right after exiting CableTEL.
29 June 2006asset acquisition disposition▼ BadMajor
Unwound the CableTEL acquisition entirely: the Finley/Phillips group took back Bulgaria's CableTEL and its funding obligations, the company received a $1.5M break-up fee and cancelled the preferred stock, and CEO Ron Finley resigned as the company agreed to drop 'cable' from its name.
31 Oct 2005financial restatement▼ BadMajor
SEC accounting staff overruled the company's 'reverse acquisition' treatment of the CableTEL deal, forcing a restatement that cuts previously reported 2004 total assets nearly two-thirds (from $50.5M to $16.9M) and shrinks the reported 2004 net loss from $2.2M to $0.9M.
12 Aug 2005material agreement▼ Bad
Pushed back the deadline for putting the CableTEL preferred-to-common conversion to a shareholder vote by nine months, to June 2006 -- a sign the mandatory exchange was struggling to move forward.
29 Dec 2004asset acquisition disposition● Neutral
Filed a second amendment to the CableTEL acquisition 8-K, again restating the October 2004 terms with expanded unaudited financial disclosures.
28 Dec 2004asset acquisition disposition● Neutral
Refiled the October 2004 CableTEL acquisition as Amendment No. 1 to the original 8-K, restating the same terms with added detail -- no change to the deal itself.
18 Oct 2004asset acquisition disposition▼ BadMajor
In a related-party stock swap, issued preferred stock to the Finley/Phillips group -- which already controlled roughly 20% of the company -- for indirect control of CableTEL, Bulgaria's largest cable-TV and telecom operator, with a planned mandatory conversion that would leave the four sellers owning about 89% of the company's common stock.
11 Feb 2004auditor change● Neutral
Replaced auditor Grant Thornton with Farmer, Fuqua & Huff ahead of the 2003 audit; no disagreements over accounting principles were reported.
22 Sept 2003asset acquisition disposition▲ GoodMajor
Made its first move into oil and gas, buying Gaywood Oil and Gas -- 110 East Texas leases with about 40 producing wells -- for roughly $1.2M from a trust benefiting related party Gene Phillips's family, opening a new business line alongside the shrinking assisted-living operations.
