Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 330

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 10
Chunk 330
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 net loss to net cash provided by (used in) operating activities: 

    Depreciation 
     5,436  
     5,194 
  
    Issuance of common stock for services 
     143,100  
     137,130 
  
    Impairment of oil and gas properties 
     167,003  
     401,858 
  
    Changes in operating assets and liabilities 

    Accrued product sale (O&G) 
     66  
     (103)
  
    Prepaid expenses 
     —    
     96 
  
    Accrued interest payable 
     14,414  
     16,647 
  
    Accounts payable and accrued liabilities 
     230,355  
     186,357 

    Net cash used in operating activities 
     (36,793) 
     (126,035)

    Cash Flows From Investing Activities 

    Investment in oil and gas properties 
    $—    
    $—   

    Net cash from investing activities 
     —    
     —   

    Cash Flows From Financing Activities 

    Repayments of Note Payable 
     (24,000) 
     (16,000)

    Net cash used in financing activities 
     (24,000) 
     (16,000)

    Net change in cash 
     (60,793) 
     (142,035)
  
    Cash - beginning of period 
     72,281  
     214,316 
  
    Cash - end of period 
    $11,488  
    $72,281 

The accompanying notes are an integral part of these
consolidated financial statements.

F-6 

OKMIN RESOURCES INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2025

1.        ORGANIZATION AND NATURE OF OPERATIONS

Business description

Okmin Resources, Inc. (collectively with its subsidiaries,
“Okmin” or the “Company”) was incorporated in Nevada in December 2020 to engage in the business of the acquisition,
exploration and development of oil and gas properties, mineral rights, and other natural resource assets.

Okmin has been focused on the acquisition and development
of