Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 271

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 271
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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.

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 year ended June 30, 2025, the Company
issued the following common shares:

a)225,000 common shares at a deemed value of $9,000 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.

b)2,500,000 common shares were issued at a deemed price of $0.04 per share for a deemed value of $100,000
to Samuel Naparstek for consulting work and services.

c)250,000 common shares were issued at $0.04 per share for a deemed value of $10,000 to a consultant for
corporate regulatory consulting services.

During the year ended June 30, 2024, the Company
issued the following common shares:

a)473,046 common shares were issued to Sierra Land Resources pursuant to its ongoing services agreement
at a deemed value of $28,805.

b)460,000 common shares were issued for consulting services that the Company expensed $75,866 in connection
with this agreement.

c)59,375 common shares were issued at a deemed value of $7,125 for services rendered by its consulting geologist.

10.        INCOME TAXES

Net operating loss carry forwards of approximately
$2,305,685 at June 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 $484,194 at June 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,