Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 132

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1A
Chunk 132
---
”) that applies to our directors, officers and employees,
including our principal executive officer, principal financial officer and principal accounting officer or controller, or persons performing
similar functions. We intend to post on our website a current copy of the Code and all disclosures that are required by law in regard
to any amendments to, or waivers from, any provision of the Code.

Nominating Committee

We have not adopted any procedures by which security
holders may recommend nominees to our Board of Directors.

Audit Committee

The Board of Directors acts as the Audit Committee
and the Board has no separate committees. The Company has no qualified financial expert at this time because it has not been able to hire
a qualified candidate. Further, the Company believes that it has inadequate financial resources at this time to hire such an expert.

28 

Indemnification of Directors and Officers

Our directors and executive officers are indemnified
as provided by Nevada law and our Bylaws. These provisions state that our directors may cause us to indemnify a director or former director
against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, actually and reasonably incurred
by him as a result of him acting as a director. The indemnification of costs can include an amount paid to settle an action or satisfy
a judgment. Such indemnification is at the discretion of our board of directors and is subject to the Securities and Exchange Commission’s
policy regarding indemnification.

Insofar as indemnification for liabilities arising
under the Securities Act of 1933 may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions,
or otherwise, we have been advised that in the opinion of the Securities and Exchange Commission, such indemnification is against public
policy as expressed in the Act and is, therefore, unenforceable.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Exchange Act requires a company's
directors and officers, and persons who own more than 10% of any class of a company's equity securities which are registered under Section
12 of the Exchange Act, to file with the SEC initial statements of beneficial ownership on Form 3, reports of changes in ownership on
Form 4, and annual reports on Form 5 concerning their ownership of and transactions concerning our common stock and other equity securities.
Such officers, directors and 10% stockholders are also required to furnish the company with copies of all Section 16(a) reports they file.
Based solely