0000899681-17-000288.txt : 20171002 0000899681-17-000288.hdr.sgml : 20171002 20171002100252 ACCESSION NUMBER: 0000899681-17-000288 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20171002 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20171002 DATE AS OF CHANGE: 20171002 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARNWELL INDUSTRIES INC CENTRAL INDEX KEY: 0000010048 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 720496921 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05103 FILM NUMBER: 171113292 BUSINESS ADDRESS: STREET 1: 1100 ALAKEA ST. STREET 2: SUITE 2900 CITY: HONOLULU STATE: HI ZIP: 96813 BUSINESS PHONE: 808-531-8400 MAIL ADDRESS: STREET 1: 1100 ALAKEA ST. STREET 2: SUITE 2900 CITY: HONOLULU STATE: HI ZIP: 96813 FORMER COMPANY: FORMER CONFORMED NAME: BMA CORP/TN DATE OF NAME CHANGE: 19770324 FORMER COMPANY: FORMER CONFORMED NAME: BARNWELL OFFSHORE INC DATE OF NAME CHANGE: 19671101 8-K 1 p17-0176_8k.htm CURRENT REPORT
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
_____________________________
 
FORM 8-K
_____________________________
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 
 
Date of Report (Date of earliest event reported): October 2, 2017
 
_____________________________
 
 
BARNWELL INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
_____________________________
 
 
Delaware
1-5103
72-0496921
(State or other jurisdiction of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
 
 
1100 Alakea Street, Suite 2900
Honolulu, Hawaii  96813
(Address of principal executive offices)
96813
(Zip Code)
 
 
Registrant's telephone number, including area code:             (808) 531-8400
 
 
 
 
Not Applicable
(Former name or former address, if
changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[  ] Soliciting material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR 240.14a-12)
 
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Sec.230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Sec.240.12b-2 of this chapter). Emerging growth company [  ]
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

 

Item 7.01  Regulation FD Disclosure.
On October 2, 2017, Barnwell Industries, Inc. (the "Company") issued a press release announcing that Kaupulehu Developments, the Company's 77.8%-owned real estate partnership, received a priority payment of $2,500,000, of which the Company's share is $1,652,000, and a percentage payment of $165,000, of which the Company's share is $110,000.  The Company will recognize a gain from these receipts in its quarter ended September 30, 2017.
Furthermore, the Company announced in the press release that its subsidiaries, KD Kona 2013 LLLP and Barnwell Hawaiian Properties, Inc., received distributions in September totaling $714,000 from the venture in which they invested in November of 2013.
A copy of such press release is furnished as Exhibit 99.1 to this Current Report.
Item 9.01  Financial Statements and Exhibits.
(d)            Exhibits
Exhibit No.
Description
99.1
Press release dated October 2, 2017

 
2

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated:  October 2, 2017

 
BARNWELL INDUSTRIES, INC.
   
   
 
By:
/s/ Russell M. Gifford
   
Name:
Russell M. Gifford
   
Title:
Executive Vice President and Chief Financial Officer

 
3

Exhibit Index

Exhibit No.
Description
99.1
Press release dated October 2, 2017


4
EX-99.1 2 p17-0176_ex991.htm PRESS RELEASE DATED OCTOBER 2, 2017


BARNWELL INDUSTRIES, INC.
P  R  E  S  S                                        
RELEASE
1100 Alakea Street, Suite 2900
Honolulu, Hawaii 96813
Telephone (808) 531-8400
Fax (808) 531-7181
Website:  www.brninc.com


CONTACT:
Alexander C. Kinzler
 
Chief Executive Officer and President
   
 
Russell M. Gifford
 
Executive Vice President and Chief Financial Officer
   
 
 

BARNWELL INDUSTRIES, INC. REPORTS RECEIPT
OF PAYMENT AND DISTRIBUTION



HONOLULU, HAWAII, October 2, 2017 -- Barnwell Industries, Inc. (NYSE American: BRN) announced that Kaupulehu Developments, Barnwell's 77%-owned real estate partnership, received a priority payment of $2,500,000, on September 29, 2017 of which Barnwell's share is $1,652,000.  The Company will recognize a gain from this receipt in its quarter ended September 30, 2017.

In addition, Barnwell's subsidiaries, KD Kona 2013 LLLP and Barnwell Hawaiian Properties, Inc., received distributions in September totaling $714,000 from the venture in which they invested in November of 2013.

Alexander C. Kinzler, Barnwell's CEO and President, commented "The total of $2,366,000 in cash received will improve our liquidity and reflects the success of our investments made at Kaupulehu in 2013.  The impact of these receipts will be reflected in our September 30, 2017 year-end financials."

The information contained in this press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts.  These statements include various estimates, forecasts, projections of Barnwell's future performance, statements of Barnwell's plans and objectives, and other similar statements.  Forward-looking statements include phrases such as "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates," "assumes," "projects," "may," "will," "will be," "should," or similar expressions.  Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved.  Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements.  The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell's expectations are set forth in the "Forward-Looking Statements," "Risk Factors" and other sections of Barnwell's annual report on Form 10-K for the last fiscal year and Barnwell's other filings with the Securities and Exchange Commission.  Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.
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