New Concept Energy, Inc. owns approximately 190 acres of land in Parkersburg, West Virginia, where four structures provide about 53,000 square feet of industrial and office space. The company leases a portion of its main building to tenants and offers advisory, accounting and management services to an oil and gas well operator under a revenue sharing agreement. In addition to these core activities, New Concept Energy, Inc. maintains property and liability insurance, employs two individuals directly and contracts the remainder of its work to third parties, and provides investors with access to its filings and corporate governance documents through its website.

The company generates revenue primarily from two sources. First, it collects lease income from tenants occupying its industrial and office buildings, which amounted to $101,000 per annum as of December 31, 2024 for roughly 16,000 square feet of leased space. Second, under a Consulting Management Agreement effective January 1, 2022, New Concept Energy, Inc. receives 10% of the gross revenue produced by the oil and gas wells it previously owned, in exchange for providing advisory, accounting and management services to the current well owner. This agreement may be terminated by either party with sixty days’ notice.

The company operates through the following segments.

• The Real Estate Operations segment encompasses the ownership and leasing of approximately 190 acres of land and four buildings totaling 53,000 square feet in Parkersburg, West Virginia. As of December 31, 2024, about 16,000 square feet of the main industrial/office building, which is 24,800 square feet in total, is leased, generating $101,000 in annual rent. The remaining space in the main building and the other structures are used for storage, maintenance or potential future leasing. The segment also includes responsibility for property maintenance, insurance and tenant relations.

• The Oil and Gas Operations segment consists of a Consulting Management Agreement with the current owner of oil and gas wells formerly held by the company in Ohio and West Virginia. Under this agreement, New Concept Energy, Inc. receives 10% of the wells’ revenue in exchange for advisory, accounting and management services. The agreement may be terminated by either party with sixty days’ notice. This segment does not involve any ownership of wells or operational liability for hydrocarbon production.

Within the real estate leasing market of Parkersburg, West Virginia, the company competes with other local property owners offering industrial and office space. Its competitive advantage lies in owning a sizable land parcel and a portfolio of buildings that provide a stable base for rental income. In the oil and gas consulting niche, the firm differentiates itself by retaining a revenue interest in wells it previously operated while providing specialized management services without holding operational liability.

The Real Estate Operations segment serves a variety of commercial tenants that lease industrial and office space, though specific tenant names are not disclosed in the filing. The Oil and Gas Operations segment provides services to 1 independent West Virginia oil and gas company that owns the wells subject to the revenue sharing agreement.