Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 199

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 199
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control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal
control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Victor Mokuolu, CPA
PLLC

We have served as
the Company’s auditor since 2024 

Houston, Texas

September 29, 2025

PCAOB ID: 6771

    www.vmcpafirm.com | Ph: 713.588.6622 | Fax: 1.833.694.1494 | ask@vmcpafirm.com

F-2 

OKMIN RESOURCES INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS 

    June 30  
    June 30 

    2025  
    2024 

    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $11,488  
    $72,281 
  
    Total current assets 
     11,488  
     72,281 

    Oil and gas properties, net 
     53,713  
     139,619 
  
    Black Rock Joint Venture 
     68,084  
     154,618 
  
    Other assets and restricted cash 
     37  
     103 
  
    Total noncurrent assets 
     121,834  
     294,340 

    TOTAL ASSETS 
    $133,322  
    $366,621 

    LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) 

    Current liabilities: 

    Accounts payable 
    $32,500  
    $32,698 
  
    Accrued liabilities – related party 
     438,750  
     276,750 
  
    Accrued interest payable – current portion 
     63,956  
     49,542 
  
    Note