Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 22

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 22
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 Company which limits the ability of other common shareholders to choose management and influence corporate matters.

Our Directors, Jonathan Herzog and Shmuel (Samuel)
Naparstek, together control 40,100,000 common shares and 5,000,000 shares of Series A preferred stock, which, on an as-converted basis
represents a majority of our outstanding voting shares and gives them voting control over the Company. This gives them the ability to
control the outcome of all matters submitted to our stockholders for approval, including the election, removal, and replacement of our
directors, amendments to our Articles of Incorporations and Bylaws, and any decisions pertaining to a merger, consolidation, or sale of
any or all of our assets.

The Company’s principal officer and director may be subject
to conflicts of interest.

Jonathan Herzog, the Company’s President, Chief
Executive Officer and a director, devotes only that portion of his time to the Company’s affairs that he deems necessary to accomplish
the Company’s business plan. Mr. Herzog may also devote part of his working time to other business and employment endeavors, including
roles and consulting relationships with other entities, and he may have responsibilities to these other entities which would result in
conflicts of interest with the Company. Such conflicts include deciding how much time to devote to the Company’s affairs, as well
as what business opportunities should be presented to the Company. Currently, Okmin has no policy in place to address such conflicts of
interest.

The Company may have difficulty managing growth
in our business, which could adversely affect our financial condition and results of operations.  

As an early-stage company, growth in accordance with
our business plan, if achieved, could place a significant strain on our financial, technical, operational, and management resources. As
we expand our activities and increase the number of projects we are evaluating or in which we participate, there will be additional demands
on our financial, technical, operational, and management resources. The failure to continue to upgrade our technical, administrative,
operating, and financial control systems or the occurrences of unexpected expansion difficulties, including the failure to recruit, engage
or retain professionals in the oil and natural gas industry, whether as employees or outside contractors, could have a negative material
effect on our business and financial condition.

Applicable regulatory requirements, including
those contained in and issued under the Sarbanes-Oxley Act of 2002, may make it difficult for the Company