New Concept Energy, Inc. (GBR), a company engaged in the oil and gas business, has increased by 5.26% in the premarket trading session. Consequently, GBR stock was trading at $5.60 when last checked. On Monday, GBR stock closed the day at $5.32 after skyrocketing 31.36% during regular trading hours. There appears to be no specific news for this surge, but in general, almost all the oil and gas stocks are rising in stock markets. Let’s discuss some recent developments related to GBR stock.
Q2 2021 financial results
On 13th August, GBR reported the quarterly results for the second quarter of the fiscal year 2021, which ended on 30th June. According to the details, the company had cash and cash equivalents of $0.26 million on 30th June. The total assets in possession of the company stood at $4.75 million. The liabilities the company owed at the end of the quarter stood at $0.305 million. The total revenue posted by the company during the quarter stood at $26,000. The revenue for an equivalent period of 2020 was the same, i.e. $26,000. The total operating expenses for the quarter stood at $0.13 million, while for an equivalent period of 2020, it was $0.14 million. The operating loss for the quarter stood at $0.105 million, while for an equivalent period of 2020, the operating loss stood at $0.11 million. The net income applicable to common shares was $49,000, while for an equivalent period of 2020, the net loss applicable to common shares stood at $0.13 million. The net income per basic and diluted share for the quarter stood at 0.01.
GBR Q1 2021 financial results
On 17th May, GBR reported the financial results for the first quarter of fiscal 2021, which ended on 31st March. The company recorded a net income of $79,000 applicable to common shares, as compared to a net loss of $34,000 for an equivalent period of 2020. The net income from continuing operations stood at $79,000 for the quarter, while for an equivalent period of 2020, the net loss from continuing operations stood at $34,000. The corporate, general, and administrative expenses for the quarter stood at $74,000, comparable to $104,000 for an equivalent period of 2020. The company recorded a loss of $63,000 from the discontinued operations.
What lies ahead for GBR stock?
The recent past performance of GBR stock has been outstanding. The stock has increased by 42% during the last week. During the last year, the stock has increased by a mammoth 325%. The 52 weeks high of GBR stock had been $30.99 and 52 week low stands at $1.21. Analysts believe that GBR stock would continue its current tremendous performance in the future as well.
