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New Concept Energy, through its wholly owned subsidiaries Mountaineer State Energy, Inc. and Mountaineer State Operations, LLC, owns and operates oil and gas wells and mineral leases in Athens and Meigs Counties in Ohio and in Calhoun, Jackson and Roane Counties in West Virginia. According to our GBR split history records, New Concept Energy has had 4 splits.
GBR split history picture
New Concept Energy (GBR) has 4 splits in our GBR split history database. The first split for GBR took place on December 01, 1995. This was a 1 for 5 reverse split, meaning for each 5 shares of GBR owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 200 share position following the split. GBR's second split took place on December 03, 2001. This was a 1 for 25 reverse split, meaning for each 25 shares of GBR owned pre-split, the shareholder now owned 1 share. For example, a 200 share position pre-split, became a 8 share position following the split. GBR's third split took place on February 05, 2002. This was a 5 for 4 split, meaning for each 4 shares of GBR owned pre-split, the shareholder now owned 5 shares. For example, a 8 share position pre-split, became a 10 share position following the split. GBR's 4th split took place on October 29, 2003. This was a 2 for 1 split, meaning for each share of GBR owned pre-split, the shareholder now owned 2 shares. For example, a 10 share position pre-split, became a 20 share position following the split.

When a company such as New Concept Energy splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as New Concept Energy conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the GBR split history from start to finish, an original position size of 1000 shares would have turned into 20 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into New Concept Energy shares, starting with a $10,000 purchase of GBR, presented on a split-history-adjusted basis factoring in the complete GBR split history. GBR split adjusted history picture

Growth of $10,000.00
Without Dividends Reinvested

Start date: 06/01/2010
End date: 05/28/2020
Start price/share: $4.35
End price/share: $0.90
Dividends collected/share: $0.00
Total return: -79.31%
Average Annual Total Return: -14.58%
Starting investment: $10,000.00
Ending investment: $2,069.11
Years: 10.00
Date Ratio
12/01/19951 for 5
12/03/20011 for 25
02/05/20025 for 4
10/29/20032 for 1
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