Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 341

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 10
Chunk 341
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 —    
     811  
     24  
     1.89  
     1,532 

    West Sheppard 
     —    
     —    
     —    
     —    
     —    
     —    
     —   

    Vitt Lease 
     5.44  
     55  
     65.17  
     —    
     —    
     —    
     354 

Subject to the Company being able to secure adequate
additional financing, Okmin may also acquire the rights to and participate in drilling and/or other mining operations. The Company will
evaluate exploration and mining opportunities and other strategic corporate opportunities as they become available from time to time.

There are no proven 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