Company: OKMN
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001553350-25-000149
Chunk: 23

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-11-25
Form: 10-Q
Item: Item 1
Chunk 23
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 of liabilities and commitments in the normal
course of business.

As reflected in the accompanying condensed financial
statements, the Company had a net loss of $73,430 for the three months ended September 30, 2025 and an accumulated deficit of $2,379,115
as of September 30, 2025. These factors, among others, raise doubt about the Company’s ability to continue as a going concern.

The Company had a working capital deficit of $554,814
as at September 30, 2025. In the 2026 fiscal year we anticipate cash needs of a minimum of $270,000, to maintain general corporate overhead
and for continued work in maintaining our existing lease properties. This does not include any potential workovers, re-entries, stimulation
treatments and recompletions of existing non or low producing wells, which would require additional capital commitments. The Company plans
to obtain that capital by issuing equity securities, which may consist of either capital stock or convertible debt.

The Company’s future success is dependent upon
its ability to achieve profitable operations, generate cash from operating activities and obtaining additional financing. If such additional
financing is not available on terms acceptable to us or at all, then we may need to curtail our operations and/or take additional measures
to conserve and manage our liquidity and capital resources, any of which would have a material adverse effect on our financial position,
results of operations, and our ability to continue as a going concern. The financial statements do not include any adjustments that might
be necessary if the Company is unable to continue as a going concern.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements
that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues
or expenses, results of operations, liquidity, capital expenditures or capital resources. 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK

As a smaller reporting company, as defined in Rule
12b-2 of the Exchange Act, we are not required to provide the information required by this Item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and
maintaining disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as
amended (the “Exchange