BARNWELL INDUSTRIES INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended March 31, 2024
or
☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Commission File Number 1-5103
(Exact name of registrant as specified in its charter)
| Delaware | 72-0496921 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 1100 Alakea Street, Suite 500, Honolulu, Hawaii | 96813 |
| (Address of principal executive offices) | (Zip code) |
| (808) 531-8400 | |
| (Registrant’s telephone number, including area code) | |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.50 par value | BRN | NYSE American |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| 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. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐ Yes ☒ No
As of May 13, 2024 there were 10,028,090 shares of common stock, par value $0.50, outstanding.
AND SUBSIDIARIES
INDEX
| PART I. · FINANCIAL INFORMATION: | ||
|---|---|---|
| Item 1. · Financial Statements (Unaudited) | ||
| Condensed Consolidated Balance Sheets - March 31, 2024 and September 30, 2023 | 3 | |
| Condensed Consolidated Statements of Operations - three and six months ended March 31, 2024 and 2023 | 4 | |
| Condensed Consolidated Statements of Comprehensive Loss - three and six months ended March 31, 2024 and 2023 | 5 | |
| Condensed Consolidated Statements of Equity - three and six months ended March 31, 2024 and 2023 | 6 | |
| Condensed Consolidated Statements of Cash Flows - six months ended March 31, 2024 and 2023 | 8 | |
| Notes to Condensed Consolidated Financial Statements | 9 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 27 |
| Item 4. | Controls and Procedures | 39 |
| PART II. | OTHER INFORMATION: | |
| Item 6. | Exhibits | 40 |
| Signature | 41 | |
| Index to Exhibits | 42 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.