Company: OKMN
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001553350-25-000149
Chunk: 20

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-11-25
Form: 10-Q
Item: Item 1
Chunk 20
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Expense

General and administrative
expenses increased to $79,588 for the three months ended September 30, 2025 compared to expenses of $59,379 for the three months ended
September 30, 2024. The primary reason for the increase was due to higher consulting and professional fees in the current period. Expenses
related to compensation, interest, rent, accounting and professional fees and other general and administrative expenses necessary for
our operations were relatively flat compared to the prior period.

Net Loss

The net loss for the three months ended September
30, 2025 was $73,430 compared to a net loss of $67,785 for the three months ended September 30, 2024. Expenses during the three month
period ended September 30, 2025, included: $6,968 in lease operating expenses (including taxes and royalties), $40,500 in deferred and
unpaid compensation, $5,559 in interest expense and financing costs, $8,700 in compliance listing related fees, $37,366 in accounting
and professional fees and other general and administrative expenses necessary for our operations. Expenses during the comparative three
month period ended September 30, 2024 included: $9,717 in lease operating expenses (including taxes and royalties), $40,500 in deferred
and unpaid compensation, $4,320 in interest expense and financing costs, $8,400 in compliance listing related fees, $9,599 in accounting
and professional fees and other general and administrative expenses necessary for our operations.

13 

Net cash provided (used) from financing 

Financing activities provided net cash of $30,000
in the three months ended September 30, 2025. The Company completed a private placement of 1,000,000 common shares at a price of $0.03
per share for proceeds of $30,000. For the three months ended September 30, 2024, financing activities used cash of $6,000 which was entirely
for repayment of debt.

Net cash from investing activities

There was no cash provided by or used in investing
activities for the three month periods ended September 30, 2025 or September 30, 2024.

Liquidity and Capital Resources 

Current Financial Condition

As of September 30, 2025, we had total assets of $134,878,
comprised primarily of cash of $13,623 and oil and gas properties of $96,090