secwatch.observer — SEC 8-K summary
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Issuer:     New Concept Energy, Inc. (GBR)
CIK:        0000105744
Form:       8-K
Filed at:   2024-09-03T23:59:59+00:00
Accession:  0001214659-24-015885
Event type: other_material
Sentiment:  neutral
Materiality: 0.25
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

New Concept Energy enters advisory agreement with Pillar Income Asset Management
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- Advisor Pillar receives monthly gross asset fee of 0.0625% (0.75% annual) of average Gross Asset Value.
- Incentive fee equal to greater of $25,000 or 7.5% of Adjusted Net Income per fiscal year, paid quarterly.
- Term renewable annually subject to majority of independent directors; either party may terminate with 60–120 days notice.
- Company reimburses Advisor's service employee expenses, including salary, payroll taxes, and benefit costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/105744/000121465924015885/0001214659-24-015885-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/105744/000121465924015885/y932458k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-015885

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