Company: OKMN
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001553350-25-000149
Chunk: 17

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-11-25
Form: 10-Q
Item: Item 1
Chunk 17
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The numerator for basic earnings per share is net
income attributable to common stockholders. The numerator for diluted earnings per share is net income available to common stockholders.

The numerator for basic earnings per share is net
income attributable to common stockholders. The numerator for diluted earnings per share is net income available to common stockholders.

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OKMIN RESOURCES INC. AND SUBSIDIARIES

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

As of September 30, 2025

9.     STOCK BASED COMPENSATION 

The Company has not adopted any equity grant program.
The Company’s Officers hold no stock options or unvested stock awards, and held none at any time during the year ended June 30,
2025.

During the three months ended September 30, 2025,
the Company issued the following common shares:

    a)
    173,090 common shares at a deemed value of $10,385 to Sierra Land Resources in connection with an ongoing services agreement, whereby Mr. Ed Sierra serves as the Company’s Advisor on Land and Resource Development, which was initially entered into on July 2022. Under the agreement, the Company issues shares to Sierra for their work in lieu of cash fees based upon the price of the Company’s common stock at the time services are invoiced.

10.     INCOME TAXES

Net operating loss carry forwards of approximately
$2,379,115 at September 30, 2025 are available to offset future taxable income. This results in a net deferred tax asset, assuming an
effective tax rate of 21% of approximately $499,614 at September 30, 2025.

11.     RELATED PARTY
TRANSACTIONS

As of November 1, 2021, the Company agreed to compensate
its Chief Executive Officer, President, and Chief Financial Officer Jonathan Herzog, at a rate of $13,500 per month, consisting of $6,750
in cash compensation and $6,750 to be accrued and deferred until management determines that the Company is in a position to make such
payments. Such accrued amounts may be paid in cash or may be satisfied through the issuance of common stock or preferred stock in lieu
of cash payments. The Company and Mr. Herzog have not entered into a formal written employment agreement in relation to Mr. Herzog’s
compensation and employment terms. As of September 30, 2025