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SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
Sep. 30, 2016
Share-based payments  
Schedule of share-based compensation (benefit) expense
The Company’s share-based compensation benefit and related income tax effects are as follows:
 
 
Year ended September 30,
 
2016
 
2015
Share-based benefit
$
(22,000
)
 
$
(140,000
)
Income tax effect
$
—

 
$
—
Equity-classified share options  
Share-based payments  
Summary of the activity in share options
A summary of the activity in Barnwell’s equity-classified share options from October 1, 2015 through September 30, 2016 is presented below:
 
Options
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding at October 1, 2015
30,000

 
$
3.01

 
 
 
 

Granted
—

 
—

 
 
 
 

Exercised
—

 
—

 
 
 
 

Expired/Forfeited
—

 
—

 
 
 
 

Outstanding at September 30, 2016
30,000

 
$
3.01

 
7.2
 
$
—

Exercisable at September 30, 2016
15,000

 
$
3.01

 
7.2
 
$
—
Liability-classified share options  
Share-based payments  
Schedule of share-based compensation (benefit) expense
The following table summarizes the components of the total share-based compensation for liability-classified awards:
 
 
Year ended September 30,
 
2016
 
2015
Due to vesting
$
4,000

 
$
10,000

Due to remeasurement
(36,000
)
 
(170,000
)
Total share-based compensation benefit for liability-based awards
$
(32,000
)
 
$
(160,000
)
Summary of the activity in share options
A summary of the activity in Barnwell’s liability-classified share options from October 1, 2015 through September 30, 2016 is presented below:
 
Options
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding at October 1, 2015
591,250

 
$
7.98

 
 
 
 

Granted
—

 
—

 
 
 
 

Exercised
—

 
—

 
 
 
 

Expired/Forfeited
—

 
—

 
 
 
 

Outstanding at September 30, 2016
591,250

 
$
7.98

 
2.5
 
$
—

Exercisable at September 30, 2016
576,250

 
$
8.11

 
2.4
 
$
—
Schedule of assumptions used in estimating fair value
The following assumptions were used in estimating fair value for all liability-classified share options outstanding:
 
 
Year ended September 30,
 
2016
 
2015
Expected volatility range
56.7% to 72.7%
 
51.5% to 61.6%
Weighted-average volatility
63.6%
 
52.4%
Expected dividends
None
 
None
Expected term (in years)
1.2 to 7.2
 
2.2 to 8.2
Risk-free interest rate
0.6% to 1.4%
 
0.6% to 1.9%
Expected forfeitures
None
 
None