Barnwell Industries, Inc. Reports Results for Its Fourth Quarter and Year Ended September 30, 2025

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[{"type":"text","content":"Recent Capital Raise Lays the Groundwork for Future Success","length":59,"tagName":"p"},{"type":"text","content":"HONOLULU, HI / ACCESS Newswire / December 19, 2025 / Barnwell Industries, Inc. (NYSE American:BRN) today reported financial results for its fourth quarter and year ended September 30, 2025. The Company had revenue from continuing operations of $3,022,000 and a net loss from continuing operations of $2,429,000 or $0.24 per share for the fourth quarter and revenue from continuing operations of $13,697,000 and a net loss from continuing operations of $7,103,000 or $0.71 per share for the fiscal year.","length":502,"tagName":"p"},{"type":"text","content":"The increase in net loss from continuing operations for the year ended September 30, 2025, compared to the prior year, was primarily driven by higher general and administrative expenses resulting from significant one-time, non-recurring costs associated with the shareholder consent solicitation, a loss related to the sale of the Company's U.S. oil and natural gas working interests, lower commodities prices and reduced production, and softer results in the land investment segment due to prior-year lot sales that did not recur in the current period.","length":557,"tagName":"p"},{"type":"text","content":"The U.S. oil and natural gas assets were located in the states of Texas and Oklahoma and were owned by wholly-owned subsidiaries of Barnwell. As a result of the sale during the three months ended September 30, 2025, the Company no longer owns any oil and natural gas assets in the U.S.","length":285,"tagName":"p"},{"type":"text","content":"Private Placement Offering","length":26,"tagName":"p"},{"type":"text","content":"In November 2025, the Company entered into a securities purchase agreement with certain investors (the "Purchasers"), including certain directors of the board of directors of the Company, pursuant to which the Company agreed to issue and sell an aggregate of: (i) 2,221,141 shares of its common stock, par value $0.50 per share (the "Common Stock"), and (ii) warrants (the "Common Warrants") to purchase up to 1,029,104 shares of Common Stock (the "Warrant Shares") in a private placement offering of the Company's securities (the "Offering"). The directors of the Company participating as Purchasers in the O...

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