STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Sep. 30, 2022

Share-based compensation

Summary of the activity in share options

A summary of the activity in Barnwell’s equity-classified share options from October 1, 2021 through September 30, 2022 is presented below:

Options	Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at October 1, 2021	615,000	$	3.36
Granted	—	—
Exercised	—	—
Expired/Forfeited	—	—
Outstanding at September 30, 2022	615,000	$	3.36	7.9	$	—
Exercisable at September 30, 2022	205,000	$	3.36	7.9	$	—

Equity-classified share options

Share-based compensation

Schedule of assumptions used in estimating fair value

The following assumptions were used in estimating the fair value for equity-classified share options granted in the year ended September 30, 2021:

	> 10% Owner-Employee	Others
Number of shares	60,000	605,000
Expected volatility	127.4%	105.8%
Expected dividends	None	None
Expected term (in years)	3.5	6.0
Risk-free interest rate	0.19%	0.82%
Expected forfeitures	None	None
Fair value per share	$2.51	$2.70