(LOSS) EARNINGS PER COMMON SHARE

3 Months Ended

Dec. 31, 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 465,000 shares of common stock and 76,336 restricted stock units were excluded from the computation of diluted shares for the three months ended December 31, 2023, as their inclusion would have been anti-dilutive. Options to purchase 615,000 shares of common stock were excluded from the computation of diluted shares for the three months ended December 31, 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:


	Three months ended December 31, 2023
	Net Loss (Numerator)		Shares (Denominator)	Per-Share Amount
Basic net loss	$	(664,000)	9,996,760	$	(0.07)
Effect of dilutive securities -
common stock options and restricted stock units	—		—
Diluted net loss	$	(664,000)	9,996,760	$	(0.07)


	Three months ended December 31, 2022
	Net Earnings (Numerator)		Shares (Denominator)	Per-Share Amount
Basic net earnings	$	1,089,000	9,956,687	$	0.11
Effect of dilutive securities -
common stock options	—		—
Diluted net earnings	$	1,089,000	9,956,687	$	0.11