Realty Advisors Inc., a significant shareholder in New Concept Energy, Inc. (AMEX:GBR), disclosed a major transaction involving the sale of 250,000 shares of the company's common stock. The shares were sold at a price of $1.16 each, amounting to a total value of $290,000. The transaction comes as GBR's stock has declined approximately 28% over the past six months, according to InvestingPro data.
Following this transaction, Realty Advisors continues to hold 646,254 shares of New Concept Energy. The transaction was filed with the Securities and Exchange Commission on December 23, 2024, with the sale taking place on December 20, 2024. The filing was signed by Gina Kay, Vice President and Treasurer of Realty Advisors. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 7.48, though it remains unprofitable with negative EBITDA of $0.25 million in the last twelve months. For deeper insights into insider trading patterns and additional financial metrics, subscribers can access more than 5 exclusive InvestingPro Tips.
In other recent news, New Concept Energy, a Dallas-based company in the crude petroleum and natural gas industry, has recessed its Annual Meeting of Stockholders for additional votes. The company's current ratio stands at 7.48, demonstrating strong liquidity, despite a negative EBITDA of $0.25 million, according to InvestingPro. The recess aims to allow further solicitation of proxies as recommended by Broadridge. The meeting is set to address the election of directors and the ratification of the company's independent registered public accounting firm. The company, formerly known as CabelTel International Corp, Greenbriar Corp, and Medical (TASE:PMCN) Resource Companies of America, currently maintains a weak overall financial health score of 1.72. The meeting was previously adjourned due to the lack of a quorum, and the company's management and Board of Directors continue to seek additional proxies. These are recent developments in the company's corporate governance.
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