Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 214

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 214
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 reserves of any classification in any of the projects
listed above.

7.        STOCKHOLDERS’ EQUITY

Preferred stock

The Company is authorized
to issue 50,000,000 shares of preferred stock with a par value of $0.0001 per share. As at June 30, 2025, the Company had a total of 5,000,000
shares of Series A preferred stock issued and outstanding. Each share of Series A Preferred Stock has voting rights of ten votes per share,
though is not entitled to receive dividends. Additionally, each share of Series A preferred shares may be converted at $0.01 per preferred
share into ten shares of common stock for each share of Series A Preferred Stock. Jonathan
Herzog, the Company’s President and Chief Executive Officer owns all of the Series A Preferred Stock.  At any shareholders
meeting or in connection with the giving of shareholder consents, the holder of each share of Series A Preferred Stock is entitled to
voting rights of ten votes per share, though is not entitled to receive dividends. Accordingly, by reason of his ownership of Series A
Preferred Stock, Mr. Herzog exercises control of approximately 46% of the aggregate voting power in the Company. The Series A Preferred
Stock upon liquidation, winding-up or dissolution of the Corporation, ranks on a parity, in all respects, with all the Common Stock.

Common stock

The Company is authorized to issue 750,000,000 shares
of common stock with a par value of $0.0001 per share.

At June 30, 2025, the Company had 117,899,921 shares
of its common stock issued and outstanding.

The Company has issued the following shares:

As of August 1, 2023, the Company issued 460,000 shares pursuant to a consulting
agreement, vesting quarterly, at a deemed price of $0.22 per share.

As of August 28, 2023, the Company issued 59,375 shares
at a deemed price of $0.12 per share for previous services valued at $7,125 rendered by its consulting geologist.

On November 27, 2023, the Company issued a further
151,305 shares at a deemed price of $0.10 per share for services valued at $15,131 pursuant to an ongoing services agreement with Sierra
Land Resources, LLC, in connection with Land and Resource Development work