Going concern
Filing comparison
OKMIN RESOURCES, INC. disclosed substantial doubt about its ability to continue as a going concern
No substantial-doubt conclusion identified → Substantial doubt about ability to continue as a going concern
As reflected in the accompanying audited financial statements, the Company had a net loss of $367,299 for the year ended June 30, 2026 and an accumulated deficit of $2,672,984 as of the same date. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The Company had a working capital deficit of $708,433 as at June 30, 2026. In the 2027 fiscal year we anticipate cash needs of a minimum of $230,000, to maintain general corporate overhead and for continued work in maintaining our existing lease properties. This does not include any…
Evidence
- Blank check
- No
- Comparable
- Yes
- Current state
- substantial_doubt
- Current state label
- Substantial doubt about ability to continue as a going concern
- Direction
- escalated
- Located in
- going-concern note
- Prior filed
- 2025-09-29
- Prior form
- 10-K
- Prior state
- none
- Prior state label
- No substantial-doubt conclusion identified
- Source
- ASC 205-40 going-concern note comparison
- Why
- Disclosure about the company's ability to continue as a going concern changed compared with its previous report.