Barnwell Inds Stock Price, News & Analysis

Barnwell Industries (NYSE American: BRN) reported fourth-quarter revenue from continuing operations of $3.022M and a Q4 net loss from continuing operations of $2.429M (loss of $0.24 per share). For fiscal 2025 the company reported revenue from continuing operations of $13.697M and a net loss from continuing operations of $7.103M (loss of $0.71 per share).

Year-over-year loss widened due to higher G&A driven by one-time costs for a shareholder consent solicitation, a loss on the sale of U.S. oil and gas working interests, lower commodity prices and reduced production, and softer land investment results.

Material corporate actions: sale of all U.S. oil and gas assets, a November 2025 private placement that raised approximately $2.443M, a Kaupulehu Increment II surrender agreement for $2.0M (with $70,000 received and closing subject to purchaser), and planned closure of the Hawaii office with HQ shared between Houston and Calgary.

Barnwell Industries (NYSE American: BRN) announced it closed a private placement on December 3, 2025, raising approximately $2.4 million in gross proceeds.

The company issued 2.2 million shares of common stock at $1.10 per share. Purchasers (excluding board, management and one other) also received warrants to buy up to 1.0 million shares at an exercise price of $1.65 per share, exercisable after a six‑month delay and expiring in 3 years. The securities were sold in a private placement relying on exemptions from registration under the Securities Act.

The company said net proceeds will be used for general corporate purposes, strengthening the balance sheet, supporting operations, and pursuing strategic initiatives.

Barnwell Industries (NASDAQ:BRN) entered a private placement for approximately 2.2 million shares at $1.10 per share for expected gross proceeds of ~$2.4 million. Certain purchasers (excluding most directors/management) will receive warrants to buy one share for every two shares purchased at an $1.65 exercise price. Closing is expected on or around November 28, 2025, subject to customary conditions. The company will file a resale registration statement and intends to use proceeds for general corporate purposes.

The financing includes participation by lead investor Bradley Radoff, certain board members, and provides for the appointment of Joshua Schechter to the board upon closing. Recent company actions cited: exit of legacy water well drilling, planned Hawaii headquarters closure, and retirement of two long‑serving executives.

Barnwell (NYSE American: BRN) appointed Philip F. Patman, Jr. as Executive Vice President, Finance and announced planned retirements of Russell Gifford (CFO) and Alex Kinzler (General Counsel and Secretary).

Mr. Gifford will assist with an orderly transition expected to complete by year-end 2025, after which Mr. Patman is expected to assume the role of Chief Financial Officer. The company said it will simplify operations, reduce overhead and wind down its Hawaii office by end of March 2026, designating its Calgary office as the company’s primary base of operations.

Barnwell Industries (NYSE American:BRN) has announced the appointment of two new members to its Board of Directors: Philip J. McPherson and Craig D. Hopkins, effective immediately. The appointments are aimed at strengthening the company's governance and financial leadership.

Craig Hopkins, who serves as the company's CEO, emphasized that his experience as President and CEO, combined with Phil McPherson's capital markets expertise and previous board service, will be crucial in implementing necessary changes to enhance the company's profitability.

Barnwell Industries (NYSE American: BRN) announced the adjournment of its 2025 Annual Meeting of Stockholders to September 19, 2025. In response to ongoing quorum challenges, the Board has amended its Bylaws to reduce the quorum requirement from a majority to 33.33% of outstanding shares for this specific meeting.

The Board claims that Mr. Sherwood has deliberately prevented quorum achievement, leading to multiple meeting adjournments, increased costs, and management distraction. Despite multiple settlement offers including board representation proportional to the Sherwood Group's ownership, negotiations have been unsuccessful as Mr. Sherwood reportedly seeks board control.

The Board strongly recommends stockholders use the WHITE proxy card to vote "FOR" their four nominees: Kenneth S. Grossman, Craig D. Hopkins, Joshua S. Horowitz, and Philip J. McPherson. The record date remains July 21, 2025.

Barnwell Industries (NYSE American:BRN) reported challenging Q3 2025 financial results, with revenue from continuing operations declining to $3.19 million from $4.51 million in Q3 2024. The company posted a wider net loss of $1.55 million ($0.15 per share) compared to a loss of $1.02 million ($0.10 per share) in the prior year period.

The company announced the sale of all U.S. oil and natural gas assets for $2.3 million, expecting to incur a $700,000 loss on the sale. Additionally, BRN faced increased general and administrative expenses of 43% ($565,000) due to shareholder disputes and proxy contest costs. Management expressed concerns about the company's ability to continue as a going concern, citing uncertainty about professional fees and operating cash flows.

Barnwell Industries (NYSE American: BRN) has filed a revised definitive proxy statement with the SEC for its rescheduled 2025 Annual Meeting of Stockholders. The meeting will now take place on September 10, 2025, at 9:00 a.m. HST in Honolulu, Hawaii, with a record date of July 21, 2025.

The Board strongly recommends stockholders use the WHITE proxy card to vote "FOR" their four nominees: Kenneth S. Grossman, Craig D. Hopkins, Joshua S. Horowitz, and Philip J. McPherson. The company urges shareholders to discard any green proxy card sent by the Sherwood Group. The proxy materials are available online, and stockholders will receive a Notice of Internet Availability of Proxy Materials around July 25, 2025.

Barnwell Industries (NYSE: BRN) announced the third adjournment of its 2025 Annual Meeting of Shareholders to September 3, 2025, due to Ned Sherwood's refusal to submit proxies solicited from shareholders. The meeting's delay is caused by the Sherwood Group's failure to turn in green proxy cards, effectively holding shareholder votes hostage. The new record date is set for July 21, 2025. The company urges shareholders to vote on the WHITE proxy card FOR Kenneth S. Grossman, Joshua S. Horowitz, Craig D. Hopkins, and Philip J. McPherson. Kenneth Grossman, Vice Chairman, expressed optimism about the company's future but noted that Sherwood's obstructionist actions are limiting Barnwell's value potential. The meeting remains uncontested, and the adjournment will not reopen the nomination window for director elections.