Company: OKMN
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001079973-25-000885
Chunk: 11

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
Chunk 11
---
’s ability to convert the loan to only that portion of the outstanding loan amount that would result
in the Investor being the beneficial owner of not more than 9.99% of the Company’s class of common stock.

The Company has determined that the loan is accounted
for as a liability and not equity as repayment is being made in cash pursuant to the repayment schedule, and no conversion of any of the
principal or interest into common shares has been made. Management assessed there is no embedded derivative and therefore no need for
the bifurcation of proceeds at initial recognition.

12. SUBSEQUENT EVENTS

The Company has evaluated subsequent events through
the filing date of these financial statements and has disclosed that there are no such events that are material to the financial statements
to be disclosed.

  10  

ITEM
2. MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.