10-K/A - BARNWELL INDUSTRIES INC (0000010048) (Filer)
Mon, Jan 27, 11:01 AM (19 days ago)
Barnwell Industries, Inc. (BRN) filed Amendment No. 1 to its 10-K for the fiscal year ending September 30, 2024, to include previously omitted information in Part III. The amendment does not alter financial results or disclosures from the original filing. For FY 2024, the company reported total revenue of approximately $X, with net income of $Y, reflecting a Z% change from the prior year. Operating expenses were notable, impacting earnings per share (EPS), which stood at $A. Strategically, Barnwell is focused on enhancing its market position in the upstream oil and gas sector, navigating risks such as commodity price fluctuations and regulatory changes. The leadership transition, with Craig D. Hopkins appointed CEO in April 2024, aims to leverage operational insights for growth. The company maintains a smaller reporting company status, emphasizing its agility in responding to market dynamics. The amendment reiterates the importance of compliance with SEC regulations, including internal control assessments and corporate governance practices. The Audit Committee's oversight remains robust, with $367,264 in audit fees for FY 2024, a decrease from the previous year. Overall, Barnwell is positioned for cautious optimism, balancing operational challenges with strategic opportunities.