$OKMN
Okmin Resources Inc

2023 Q4 Form 10-Q Financial Statement

#000107997323001622 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $22.79K $22.68K $15.63K
YoY Change -12.38% -46.3% -61.33%
Cost Of Revenue $23.40K $32.25K $37.25K
YoY Change -66.69% -41.1% -40.42%
Gross Profit -$613.00 -$9.570K -$21.62K
YoY Change -98.61% -23.53% -2.17%
Gross Profit Margin -2.69% -42.2% -138.32%
Selling, General & Admin $90.95K $104.9K $74.68K
YoY Change -24.57% -10.06% 19.43%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.238K $1.238K $1.240K
YoY Change
% of Gross Profit
Operating Expenses $92.19K $106.2K $75.92K
YoY Change -23.54% -9.0% 21.41%
Operating Profit -$92.80K -$115.7K -$97.54K
YoY Change -43.7% -10.41% 15.25%
Interest Expense $950.00 $3.901K $0.00
YoY Change -24.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$91.85K -$111.8K -$97.54K
YoY Change -43.85% -13.43% 15.24%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$91.85K -$111.8K -$97.54K
YoY Change -43.85% -13.43% 15.25%
Net Earnings / Revenue -403.04% -493.1% -624.06%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 114.0M shares 113.8M shares 113.4M shares
Diluted Shares Outstanding 169.7M shares 170.7M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $112.6K $144.9K $214.3K
YoY Change -67.21% -64.88% 0.0%
Cash & Equivalents $112.6K $144.9K $214.3K
Short-Term Investments
Other Short-Term Assets $100.00 $100.00 $100.00
YoY Change 0.0%
Inventory
Prepaid Expenses $96.00 $96.00 $96.00
Receivables $10.30K $8.720K $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $123.0K $153.7K $214.4K
YoY Change -70.76% -67.5% -12.03%
LONG-TERM ASSETS
Property, Plant & Equipment $542.9K $543.6K $544.3K
YoY Change 1.64% 0.9% 2.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $155.9K $156.5K $157.0K
YoY Change 13.73% 22.81% 23.19%
Other Assets $76.72K $76.17K $0.00
YoY Change 1818.0% 76070.0% -100.0%
Total Long-Term Assets $775.5K $776.2K $701.3K
YoY Change 14.85% 16.51% 6.88%
TOTAL ASSETS
Total Short-Term Assets $123.0K $153.7K $214.4K
Total Long-Term Assets $775.5K $776.2K $701.3K
Total Assets $898.6K $929.9K $915.7K
YoY Change -18.01% -18.37% 1.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.000K $340.00 $0.00
YoY Change 118.53% -92.78% -100.0%
Accrued Expenses $195.8K $155.3K $142.1K
YoY Change 57.23% 84.27% 163.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $200.8K $155.6K $142.1K
YoY Change 58.34% -5.11% 156.98%
LONG-TERM LIABILITIES
Long-Term Debt $167.1K $171.1K $171.1K
YoY Change -13.01% -16.98% -21.95%
Other Long-Term Liabilities $41.36K $37.17K $32.90K
YoY Change 73.93% 98.56% 145.71%
Total Long-Term Liabilities $208.5K $208.3K $204.0K
YoY Change -3.44% -7.36% -12.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $200.8K $155.6K $142.1K
Total Long-Term Liabilities $208.5K $208.3K $204.0K
Total Liabilities $409.2K $363.9K $346.2K
YoY Change 19.42% -6.41% 20.21%
SHAREHOLDERS EQUITY
Retained Earnings -$1.039M -$947.1K -$835.3K
YoY Change 73.44% 117.5% 172.72%
Common Stock $11.41K $11.40K $11.34K
YoY Change 1.72% 6.38% 12.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $489.3K $566.0K $569.5K
YoY Change
Total Liabilities & Shareholders Equity $898.6K $929.9K $915.7K
YoY Change -18.01% -18.37% 1.75%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$91.85K -$111.8K -$97.54K
YoY Change -43.85% -13.43% 15.25%
Depreciation, Depletion And Amortization $1.238K $1.238K $1.240K
YoY Change
Cash From Operating Activities -$45.86K -$177.7K -$53.12K
YoY Change -67.58% 46.68% -31.46%
INVESTING ACTIVITIES
Capital Expenditures $14.92K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $2.480K $0.00
YoY Change -100.0%
Cash From Investing Activities $2.480K $0.00 -$14.92K
YoY Change -148.63% -100.0% -53.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $108.3K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.13K $108.3K -10.50K
YoY Change -85.64% -67.12% -111.9%
NET CHANGE
Cash From Operating Activities -45.86K -$177.7K -53.12K
Cash From Investing Activities 2.480K $0.00 -14.92K
Cash From Financing Activities 11.13K $108.3K -10.50K
Net Change In Cash -32.25K -$69.42K -78.54K
YoY Change -53.29% -135.02% 272.05%
FREE CASH FLOW
Cash From Operating Activities -$45.86K -$177.7K -$53.12K
Capital Expenditures $14.92K
Free Cash Flow -$68.04K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001848334
CY2023Q3 dei Amendment Flag
AmendmentFlag
false
CY2023Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2023Q3 dei Document Type
DocumentType
10-Q
CY2023Q3 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q3 dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2023Q3 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q3 dei Entity File Number
EntityFileNumber
000-56381
CY2023Q3 dei Entity Registrant Name
EntityRegistrantName
OKMIN RESOURCES INC.
CY2023Q3 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023Q3 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-4401166
CY2023Q3 dei Entity Address Address Line1
EntityAddressAddressLine1
16501 Ventura Boulevard
CY2023Q3 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 400
CY2023Q3 dei Entity Address City Or Town
EntityAddressCityOrTown
Encino
CY2023Q3 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2023Q3 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
91436
CY2023Q3 dei City Area Code
CityAreaCode
(818)
CY2023Q3 dei Local Phone Number
LocalPhoneNumber
201-3727
CY2023Q3 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q3 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q3 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q3 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q3 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023Q3 dei Entity Shell Company
EntityShellCompany
false
CY2023Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
113951875 shares
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
144895 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
214316 usd
CY2023Q3 OKMIN Production Revenue Receivable
ProductionRevenueReceivable
8724 usd
CY2023Q2 OKMIN Production Revenue Receivable
ProductionRevenueReceivable
0 usd
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
96 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
96 usd
CY2023Q3 us-gaap Assets Current
AssetsCurrent
153715 usd
CY2023Q2 us-gaap Assets Current
AssetsCurrent
214412 usd
CY2023Q3 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
543581 usd
CY2023Q2 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
544271 usd
CY2023Q3 OKMIN Black Rock Joint Venture
BlackRockJointVenture
156470 usd
CY2023Q2 OKMIN Black Rock Joint Venture
BlackRockJointVenture
157018 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
76169 usd
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
0 usd
CY2023Q3 us-gaap Assets Noncurrent
AssetsNoncurrent
776220 usd
CY2023Q2 us-gaap Assets Noncurrent
AssetsNoncurrent
701289 usd
CY2023Q3 us-gaap Assets
Assets
929935 usd
CY2023Q2 us-gaap Assets
Assets
915701 usd
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
340 usd
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
0 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
155250 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
142125 usd
CY2023Q3 us-gaap Liabilities Current
LiabilitiesCurrent
155590 usd
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
142125 usd
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
37174 usd
CY2023Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
32895 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
171135 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
171135 usd
CY2023Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
208309 usd
CY2023Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
204030 usd
CY2023Q3 us-gaap Liabilities
Liabilities
363899 usd
CY2023Q2 us-gaap Liabilities
Liabilities
346155 usd
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
5000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
5000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
5000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
5000000 shares
CY2023Q3 us-gaap Preferred Stock Value
PreferredStockValue
500 usd
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
500 usd
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
113951875 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
113951875 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
113432500 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
113432500 shares
CY2023Q3 us-gaap Common Stock Value
CommonStockValue
11395 usd
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
11343 usd
CY2023Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1501280 usd
CY2023Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1393007 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-947139 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-835304 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
566036 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
569546 usd
CY2023Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
929935 usd
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
915701 usd
CY2023Q3 us-gaap Results Of Operations Revenue From Oil And Gas Producing Activities
ResultsOfOperationsRevenueFromOilAndGasProducingActivities
22677 usd
CY2022Q3 us-gaap Results Of Operations Revenue From Oil And Gas Producing Activities
ResultsOfOperationsRevenueFromOilAndGasProducingActivities
42232 usd
CY2023Q3 us-gaap Cost Of Revenue
CostOfRevenue
32247 usd
CY2022Q3 us-gaap Cost Of Revenue
CostOfRevenue
54746 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
-9570 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
-12513 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
104928 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
116667 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1238 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
106166 usd
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
116667 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-115736 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-129181 usd
CY2023Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
3901 usd
CY2022Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
0 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-111835 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-129181 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-111835 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-129181 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113759443 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100572011 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
170656308 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
158272011 shares
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
611960 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
255000 usd
CY2022Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
12600 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-129181 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
750379 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
146500 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
72500 usd
us-gaap Net Income Loss
NetIncomeLoss
-399833 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
569546 usd
CY2023Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
108325 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-111835 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
566036 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-111835 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-129181 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1238 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0 usd
CY2023Q3 us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
-0 usd
CY2022Q3 us-gaap Increase Decrease In Unproved Oil And Gas Property
IncreaseDecreaseInUnprovedOilAndGasProperty
6818 usd
CY2023Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-75912 usd
CY2022Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2023Q3 OKMIN Production Revenues Receivable
ProductionRevenuesReceivable
8724 usd
CY2022Q3 OKMIN Production Revenues Receivable
ProductionRevenuesReceivable
24170 usd
CY2023Q3 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
258 usd
CY2023Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
17745 usd
CY2022Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
38991 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-177746 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-120542 usd
CY2023Q3 OKMIN Investment In Oil And Gas Properties
InvestmentInOilAndGasProperties
-0 usd
CY2022Q3 OKMIN Investment In Oil And Gas Properties
InvestmentInOilAndGasProperties
10689 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10689 usd
CY2023Q3 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 usd
CY2022Q3 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-13125 usd
CY2023Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
108325 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
267600 usd
CY2023Q3 OKMIN Proceeds From Common Stock Issuable
ProceedsFromCommonStockIssuable
0 usd
CY2022Q3 OKMIN Proceeds From Common Stock Issuable
ProceedsFromCommonStockIssuable
75000 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
108325 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
329475 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-69421 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
198244 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
214316 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
214307 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
144895 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
412551 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-111835 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-947139 usd
CY2023Q3 OKMIN Working Capital
WorkingCapital
1875 usd
CY2023Q3 us-gaap Effect On Future Earnings And Cash Flows Offset Description
EffectOnFutureEarningsAndCashFlowsOffsetDescription
For the 2024 fiscal year which started in July, the Company anticipates cash needs of a minimum of $600,000, of which approximately $300,000 is for general corporate overhead and $300,000 for continued work on oil and gas properties.
CY2023Q3 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zxqZQTs7d12j" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_864_z8SXlrZP1EO7">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and certain assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Actual results could differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
144895 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
214316 usd
CY2023Q3 us-gaap Results Of Operations Revenue From Oil And Gas Producing Activities
ResultsOfOperationsRevenueFromOilAndGasProducingActivities
22677 usd
CY2023Q3 us-gaap Cost Of Revenue
CostOfRevenue
32247 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1238 usd
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
5000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
5000000 shares
CY2023Q3 us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
Each share of Series A Preferred Stock has voting rights of ten votes per share, though is not entitled to receive dividends.
CY2023Q3 us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
Additionally, each share of Series A preferred shares may be converted at $0.01 per preferred share into ten shares of common stock for each share of Series A Preferred Stock. The Series A Preferred Stock upon liquidation, winding-up or dissolution of the Corporation, ranks on a parity, in all respects, with all the Common Stock.
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
113951875 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
113951875 shares
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-111835 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113759443 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-111835 usd
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
170656308 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-129181 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100572011 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-129181 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
158272011 shares
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
947139 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21 pure
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
198899 usd

Files In Submission

Name View Source Status
okmin-20230930_cal.xml Edgar Link unprocessable
0001079973-23-001622-index-headers.html Edgar Link pending
0001079973-23-001622-index.html Edgar Link pending
0001079973-23-001622.txt Edgar Link pending
0001079973-23-001622-xbrl.zip Edgar Link pending
ex31x1.htm Edgar Link pending
ex31x2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
okmin-20230930.xsd Edgar Link pending
okmin_10q.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
okmin-20230930_pre.xml Edgar Link unprocessable
okmin_10q_htm.xml Edgar Link completed
okmin-20230930_def.xml Edgar Link unprocessable
okmin-20230930_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending