(LOSS) EARNINGS PER COMMON SHARE

9 Months Ended

Jun. 30, 2023

Basic (loss) earnings per share is computed using the weighted-average number of common shares outstanding for the period. Diluted (loss) earnings per share is calculated using the treasury stock method to reflect the assumed issuance of common shares for all potentially dilutive securities, which consist of outstanding stock options and nonvested restricted stock units. Potentially dilutive shares are excluded from the computation of diluted (loss) earnings per share if their effect is anti-dilutive.

For the three months ended June 30, 2023, options to purchase 493,022 shares of common stock and 37,312 restricted stock units were excluded from the computation of diluted shares as their inclusion would have been anti-dilutive. For the nine months ended June 30, 2023, options to purchase 574,341 shares of common stock and 12,301 restricted stock units were excluded from the computation of diluted shares as their inclusion would have been anti-dilutive. For the three and nine months ended June 30, 2022, options to purchase 615,000 shares of common stock were excluded from the computation of diluted shares as their inclusion would have been anti-dilutive.

Reconciliations between net (loss) earnings attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net (loss) earnings per share computations are detailed in the following tables:


	Three months ended June 30, 2023
	Net Loss (Numerator)		Shares (Denominator)	Per-Share Amount
Basic net loss per share	$	(717,000)	9,975,044	$	(0.07)
Effect of dilutive securities -
common stock options and restricted stock units	—		—
Diluted net loss per share	$	(717,000)	9,975,044	$	(0.07)


	Nine months ended June 30, 2023
	Net Loss (Numerator)		Shares (Denominator)	Per-Share Amount
Basic net loss per share	$	(865,000)	9,962,806	$	(0.09)
Effect of dilutive securities -
common stock options and restricted stock units	—		—
Diluted net loss per share	$	(865,000)	9,962,806	$	(0.09)


	Three months ended June 30, 2022
	Net Earnings (Numerator)		Shares (Denominator)	Per-Share Amount
Basic net earnings per share	$	2,531,000	9,956,687	$	0.25
Effect of dilutive securities -
common stock options	—		—
Diluted net earnings per share	$	2,531,000	9,956,687	$	0.25


	Nine months ended June 30, 2022
	Net Earnings (Numerator)		Shares (Denominator)	Per-Share Amount
Basic net earnings per share	$	5,656,000	9,657,532	$	0.59
Effect of dilutive securities -
common stock options	—		—
Diluted net earnings per share	$	5,656,000	9,657,532	$	0.59