Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 21

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 21
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 used in our operations, could adversely impact our operations. Moreover, the imposition of new environmental initiatives and regulations
could include restrictions on our ability to conduct certain operations such as hydraulic fracturing or disposal of wastes, including,
but not limited to, produced water, drilling fluids, and other wastes associated with the exploration, development, or production of crude
oil, natural gas, and.

Compliance with environmental regulations and permit
requirements governing the withdrawal, storage, and use of surface water or groundwater necessary for hydraulic fracturing of wells may
increase our operating costs and cause delays, interruptions, or termination of our operations, the extent of which cannot be predicted,
all of which could have an adverse effect on our operations and financial condition.

Risks related to the Company

The Company’s auditors have expressed
a “Going Concern” opinion.

The Company’s auditor has included a “going
concern” opinion in its auditors’ report to the Company's consolidated financial statements for the fiscal year ended June
30, 2025. The qualification was included as a result of the Company's history of operating losses and negative financial trends. If the
Company is unable to meet its obligations, it will not be able to fulfill its business plan and be forced to reduce certain operations
or cease operations altogether.

We depend significantly upon the continued involvement
of our present management.

We depend to a significant degree upon the involvement
of our management, specifically, our Chief Executive Officer and Chief Financial Officer, Jonathan Herzog. Our performance and success
are dependent to a large extent on the efforts and continued employment of Mr. Herzog. We do not believe that Mr. Herzog could be quickly
replaced with personnel of equal experience and capabilities, and his successor(s) may not be as effective. If Mr. Herzog or any of our
other key personnel resign or become unable to continue in their present roles and if they are not adequately replaced, our business operations
could be adversely affected.

We have an active Board of Directors that meets several
times throughout the year and is intimately involved in our business and the determination of our operational strategies. Members of our
Board of Directors work closely with management to identify potential prospects, acquisitions, and areas for further development. If any
of our directors resign or become unable to continue in their present role, it may be difficult to find replacements with the same knowledge
and experience and as a result, our operations may be adversely affected.

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Our Directors together have majority voting
control over the