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SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
Sep. 30, 2017
Share-based payments  
Schedule of share-based compensation expense (benefit)
The Company’s share-based compensation expense (benefit) and related income tax effects are as follows:
 
Year ended September 30,
 
2017
 
2016
Share-based expense (benefit)
$
15,000

 
$
(22,000
)
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, 2016 through September 30, 2017 is presented below:
Options
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding at October 1, 2016
30,000

 
$
3.01

 
 
 
 

Granted
—

 
—

 
 
 
 

Exercised
—

 
—

 
 
 
 

Expired/Forfeited
—

 
—

 
 
 
 

Outstanding at September 30, 2017
30,000

 
$
3.01

 
6.2
 
$
—

Exercisable at September 30, 2017
22,500

 
$
3.01

 
6.2
 
$
—
Liability-classified share options  
Share-based payments  
Schedule of share-based compensation expense (benefit)
The following table summarizes the components of the total share-based compensation for liability-classified awards:
 
Year ended September 30,
 
2017
 
2016
Due to vesting
$
2,000

 
$
4,000

Due to remeasurement
8,000

 
(36,000
)
Total share-based compensation expense (benefit) for liability-based awards
$
10,000

 
$
(32,000
)
Summary of the activity in share options
A summary of the activity in Barnwell’s liability-classified share options from October 1, 2016 through September 30, 2017 is presented below:
Options
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding at October 1, 2016
591,250

 
$
7.98

 
 
 
 

Granted
—

 
—

 
 
 
 

Exercised
—

 
—

 
 
 
 

Expired/Forfeited
(27,500
)
 
8.18

 
 
 
 

Outstanding at September 30, 2017
563,750

 
$
7.97

 
1.6
 
$
—

Exercisable at September 30, 2017
556,250

 
$
8.04

 
1.5
 
$
—
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,
 
2017
 
2016
Expected volatility range
53.1% to 69.5%
 
56.7% to 72.7%
Weighted-average volatility
64.6%
 
63.6%
Expected dividends
None
 
None
Expected term (in years)
0.2 to 6.2
 
1.2 to 7.2
Risk-free interest rate
1.1% to 2.1%
 
0.6% to 1.4%
Expected forfeitures
None
 
None