Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 46

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 46
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 financing
from financial institutions, investors or otherwise, in order to maintain and expand our existing operations. Our most likely source of
additional capital is through the sale of our securities, including common stock. We may also obtain capital through the sale of preferred
stock or convertible securities, or through debt financing. If we are unable to obtain additional financing it would have a material adverse
effect upon our business, financial condition and results of operations, including negatively affecting our ability to complete ongoing
activities and which could cause us to curtail or cease certain of our operations.

Critical Accounting Estimates 

This management’s discussion and analysis of
financial condition and results of operations is based on our financial statements, which have been prepared in accordance with U.S. GAAP.
Preparation of financial statements requires management to make assumptions, estimates and judgments that affect the reported amounts
of assets, liabilities, revenues, costs and expenses, and the related disclosures of contingencies. Management bases its estimates on
various assumptions and historical experience, which are believed to be reasonable; however, due to the inherent nature of estimates,
actual results may differ significantly due to changed conditions or assumptions. On a regular basis, management reviews the accounting
policies, assumptions, estimates and judgments to ensure that our financial statements are fairly presented in accordance with U.S. GAAP.
However, because future events and their effects cannot be determined with certainty, actual results could differ from our assumptions
and estimates, and such differences could be material.

Recently Issued Accounting Pronouncements

Management does not believe any recently issued but
not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s present or future financial
statements.

Going Concern Qualification

The Company’s financial statements have been
prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal
course of business.

As reflected in the accompanying audited financial
statements, the Company had a net loss of $597,167 for the year ended June 30, 2025 and an accumulated deficit of $2,305,685 as of the
same date. These factors, among others, raise doubt about the Company’s ability to continue as a going concern.

The Company had a working capital deficit of $742,439
as at June 30, 2025. In the 2026 fiscal year we anticipate cash needs of a minimum of $270,000, to maintain general corporate overhead
and for continued work in maintaining our existing lease