Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 23

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 23
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 to retain or attract qualified
officers and directors, which could adversely affect the management of its business and its ability to obtain or retain listing of its
common stock.

The Company may be unable to attract and retain those
qualified officers, directors and members of board committees required to provide for effective management because of the rules and regulations
that govern publicly held companies, including, but not limited to, certifications by principal executive officers. The enactment of the
Sarbanes-Oxley Act has resulted in the issuance of a series of related rules and regulations and the strengthening of existing rules and
regulations by the SEC, as well as the adoption of new and more stringent rules by the stock exchanges. The perceived increased personal
risk associated with these changes may deter qualified individuals from accepting roles as directors and executive officers.

Further, some of these changes heighten the requirements
for board or committee membership, particularly with respect to an individual’s independence from the corporation and level of experience
in finance and accounting matters. The Company may have difficulty attracting and retaining directors with the requisite qualifications.
If the Company is unable to attract and retain qualified officers and directors, the management of its business and its ability to obtain
or retain listing of our shares of common stock on any stock exchange (assuming the Company elects to seek and are successful in obtaining
such listing) could be adversely affected.

We have not voluntary implemented various corporate
governance measures, in the absence of which, shareholders may have more limited protections against interested director transactions,
conflict of interest and similar matters.

Recent Federal legislation, including the Sarbanes-Oxley
Act of 2002, has resulted in the adoption of various corporate governance measures designed to promote the integrity of the corporate
management and the securities markets. Some of these measures have been adopted in response to legal requirements. Others have been adopted
by companies in response to the requirements of national securities exchanges, such as the NYSE or the NASDAQ Stock Market, on which their
securities are listed. Among the corporate governance measures that are required under the rules of national securities exchanges are
those that address board of directors’ independence, audit committee oversight, and the adoption of a code of ethics. While we intend
to adopt certain corporate governance measures such as a code of ethics and established an audit committee, Nominating and Corporate Governance
Committee, and Compensation Committee of our board of directors, we presently do not have any independent directors. We intend to expand
our board membership in future periods to