New Concept Energy, Inc. Receives NYSE Regulation Letter

New Concept Energy, Inc. (NYSE American:GBR) announced that, on April
23, 2018, the Company received notice from NYSE Regulation, indicating
that the Company is currently below compliance with the NYSE American
Exchange’s continued listing standards of reported stockholders’ equity
at December 31, 2017 and losses from continuing operations in three of
its four most recent fiscal years ended December 31, 2017, as required
by Section 1003 of the NYSE American Company guide. The Company has been
afforded the opportunity to submit a Plan by May 23, 2018, advising of
actions it has taken or will take to regain compliance with the
continued listing standards by October 23, 2019. The Company’s plan is
to include specific milestones, quarterly financial projections and
details related to any strategic initiatives it plans to complete. Once
the plan is submitted, NYSE Regulation will review the plan and provide
guidance to the Company of its acceptance or lack thereof. The Company
is in the process of preparing the plan for timely submission by May 23,
2018 to become in full compliance with all continued listing standards
of the NYSE American Exchange.

About New Concept Energy, Inc.

New Concept Energy, Inc. is a Dallas-based oil and gas company which
owns oil and gas wells and mineral leases in Ohio and in West Virginia.
For more information, visit the Company’s website at www.newconceptenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180426006929/en/

Source: Business Wire
(April 26, 2018 - 5:18 PM EDT)

News by QuoteMedia

www.quotemedia.com