(LOSS) EARNINGS PER COMMON SHARE

12 Months Ended

Sep. 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.

Options to purchase 546,781 shares of common stock and 18,605 restricted stock units were excluded from the computation of diluted shares for the year ended September 30, 2023, as their inclusion would have been anti-dilutive. Options to purchase 615,000 shares were excluded from the computation of diluted shares for the year ended September 30, 2022, 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:


	Year ended September 30, 2023
	Net Loss		Shares	Per-Share
	(Numerator)		(Denominator)	Amount
Basic net loss	$	(961,000)	9,969,856	$	(0.10)
Effect of dilutive securities - common stock options and restricted stock units	—		—
Diluted net loss	$	(961,000)	9,969,856	$	(0.10)

	Year ended September 30, 2022
	Net Earnings		Shares	Per-Share
	(Numerator)		(Denominator)	Amount
Basic net earnings	$	5,513,000	9,732,936	$	0.57
Effect of dilutive securities - common stock options	—		—
Diluted net earnings	$	5,513,000	9,732,936	$	0.57