Company: OKMN
Filing Date: 2025-11-25
Form Type: 10-Q
Source: 0001553350-25-000149
Chunk: 30

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-11-25
Form: 10-Q
Item: Item 2
Chunk 30
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 on May 25, 2021 in the State of Kansas, and Okmin Energy LLC, incorporated
on November 21, 2021 in the State of Oklahoma.

Results of Operations

For the Three months ended
September 30, 2025, as compared to the Three months ended September 30, 2024

Revenue

We generated $2,088 in revenue from oil and gas sales
for the three months ended September 30, 2025, as compared to $5,991 in revenues generated in the three months ended September 30, 2024.
The decrease in revenue is predominantly attributable to lower energy prices. These lower prices not only reduced the sales price we received,
but also led to the curtailment of operations on certain of our properties until prices improve which resulted in a decrease of our production
volumes.

General and Administrative
Expense

General and administrative
expenses increased to $79,588 for the three months ended September 30, 2025 compared to expenses of $59,379 for the three months ended
September 30, 2024. The primary reason for the increase was due to higher consulting and professional fees in the current period. Expenses
related to compensation, interest, rent, accounting and professional fees and other general and administrative expenses necessary for
our operations were relatively flat compared to the prior period.

Net Loss

The net loss for the three months ended September
30, 2025 was $73,430 compared to a net loss of $67,785 for the three months ended September 30, 2024. Expenses during the three month
period ended September 30, 2025, included: $6,968 in lease operating expenses (including taxes and royalties), $40,500 in deferred and
unpaid compensation, $5,559 in interest expense and financing costs, $8,700 in compliance listing related fees, $37,366 in accounting
and professional fees and other general and administrative expenses necessary for our operations. Expenses during the comparative three
month period ended September 30, 2024 included: $9,717 in lease operating expenses (including taxes and royalties), $40,500 in deferred
and unpaid compensation, $4,320 in interest expense and financing costs, $8,400 in compliance listing related fees, $9,599 in accounting
and professional fees and other general and administrative expenses necessary for our operations.

13 

Net cash provided (used) from financing 

Financing activities