Barnwell Industries(BRN) - 2025 Q4 - Annual Results

Financial Performance - Revenue from continuing operations for Q4 2025 was $3,022,000, with a net loss of $2,429,000 or $0.24 per share[3] - For the fiscal year ended September 30, 2025, revenue from continuing operations was $13,697,000, resulting in a net loss of $7,103,000 or $0.71 per share[3] - The increase in net loss for the year was primarily due to higher general and administrative expenses, lower commodity prices, and reduced production[4] - The weighted-average shares outstanding for the year were 10,056,479, with a basic and diluted net loss per share of $0.71 for the fiscal year[17] Asset Management - The company sold its U.S. oil and natural gas assets, resulting in no longer owning any such assets in the U.S.[5] - The sale of U.S. oil and natural gas properties allows the company to concentrate resources on workover and optimization initiatives at the Twining field[10] Capital Raising - A private placement offering in November 2025 raised approximately $2,443,000 through the issuance of 2,221,141 shares of common stock and warrants[6][7] - The company plans to use the proceeds from the private placement for general corporate purposes and to focus on high-return-on-invested-capital opportunities[7] Operational Strategy - Barnwell is relocating its corporate headquarters to Houston, Texas, and Calgary, Alberta, to streamline operations and reduce expenses[9] - The company anticipates maintaining flexibility to consider opportunities that may strengthen the value of the Twining asset and overall company potential[10]