New Concept Energy Inc 2025年度报告

FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 5(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Year ended December 31, 2025ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE TRANSITION PERIOD FROMTOCommission File Number 000-08187NEW CONCEPT ENERGY, INC. Securities registered pursuant to Section 12(b) of the Exchange Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.YesNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.YesNo Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website if any, every interactive DataFile required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (orfor such shorter period that the registrant was required to submit and post such files)YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a non-accelerated filer, ora smaller reporting company. See definition of “large, accelerated filer,” accelerated filer” and “smaller reporting company” in Rule 12b-2 ofthe Exchange Act. (Check one): Large accelerated filerAccelerated filerNon-accelerated filer(Do not check if a smaller reporting Company)Smaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).YesNo The aggregate market value of the shares of voting and non-voting common equity held by non-affiliates of the Registrant, computed byreference to the closing price at which the common equity was last sold which was the sales price of the Common Stock on the NYSEAmerican as of June 30, 2025 (the last business day of the Registrant’s most recently completed second fiscal quarter) was $5,347,085 basedupon a total of 4,731,934 shares held as of June 30, 2025 by persons believed to be non-affiliates of the Registrant.The basis of the calculationdoes not constitute a determination by the Registrant as defined in Rule 405 of the Securities Act of 1933, as amended, such calculation, ifmade as of a date within sixty days of this filing, would yield a different value. As of March 31, 2026, there were 5,131,934 shares of common stock outstanding.DOCUMENTS INCORPORATED BY REFERENCE:NONE NEW CONCEPT ENERGY, INC.Index to Annual Report on Form 10-KFiscal year ended December 31, 2025 Item 1. Business4Item 1A. Risk Factors5Item 1B. Unresolved Staff Comments5Item 1C. Cybersecurity5Item 2. Properties6Item 3. Legal Proceedings6 Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities6Item 6. Selected Financial Data7Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation7Item 7a: Quantitative and Qualitative Disclosures About Market Risk8Item 8. Financial Statements and Supplementary Data8Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure8Item 9a. Controls and Procedures8Item 9b. Other Information8 PART III9 Item 10. Directors, Executive Officers and Corporate Governance9Item 11. Executive Compensation11Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters13Item 13.