Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 253

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 253
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 operations, stockholders’ equity (deficit), and cash flows, for the years ended June 30, 2025 and June 30, 2024, and
the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in
all material respects, the financial position of the Company as of June 30, 2025, and June 30, 2024, and the results of its operations
and its cash flows for the years ended June 30, 2025, and June 30, 2024 in conformity with accounting principles generally accepted in
the United States of America.

Substantial Doubt about the Company's ability
to continue as a Going Concern

The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. As discussed in Note 3, Going Concern, to the financial statements, the Company
has an accumulated deficit of $2,305,685 as of June 30, 2025, compared to accumulated deficit of $1,708,518 as of June 30, 2024. Additionally,
as of June 30, 2025, the Company had a working capital deficit of $742,439, compared to working capital deficit of $460,878 as of June
30, 2024. These factors raise substantial doubt about its ability to continue as a going concern. The financial statements do not include
any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility
of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our
audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required
to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal
control over financial reporting, but not for the purpose of