Okmin Resources Posts $202,593 Net Loss in H1 FY2026 as Revenue Falls 57%
Okmin Resources Inc., a Nevada-based resource company, reported a net loss of $202,593 for the six months ending December 31, 2025, compared to a $286,543 loss in the prior-year period. Revenue collapsed 57% to $4,902.
Okmin Resources Inc., a Nevada-based resource company, reported a net loss of $202,593 for the six months ending December 31, 2025, down from a $286,543 loss in the same period a year earlier. Revenue fell 57% to $4,902 from $11,303, while the company's cash position deteriorated sharply. Read more earnings reports.
The company generated just $2,814 in revenue for the three months ending December 31, 2025, down 47% from $5,312 in the prior-year quarter. Cost of revenue for the six-month period totaled $15,022, resulting in a gross loss of $10,120 compared to a $9,476 gross loss a year earlier.
Operating Losses Narrow Despite Revenue Decline
Operating expenses for the six months fell 26% to $199,635 from $270,737 in the prior-year period. The company posted an operating loss of $209,755 versus a $264,452 operating loss a year earlier. For the three months ending December 31, 2025, operating expenses dropped to $119,340 from $209,999, producing an operating loss of $124,581 compared to $199,818 in the prior-year quarter.
Cash Burns Through Operations
Cash from operations was negative $50,783 for the six-month period, a sharp deterioration from negative $2,514 in the prior year. The company raised $40,000 from financing activities during the period, compared to a $12,000 outflow a year earlier. Cash and cash equivalents stood at just $705 as of December 31, 2025, down 94% from $11,488 at the end of the prior fiscal year.
Balance Sheet Under Pressure
Total assets fell to $73,416 as of December 31, 2025, from $133,322 six months earlier. Current assets plummeted to $705 from $11,488 over the same period. The company carried $656,589 in current liabilities as of December 31, 2025, down from $753,927 six months prior. Stockholders' deficit stood at $583,173, compared to a $620,605 deficit as of June 30, 2025.
Accounts payable rose to $39,013 from $32,500 over the six-month period. The company had 125.7 million common shares outstanding as of December 31, 2025, up from 117.9 million six months earlier. Retained deficit widened to $2.51 million from $2.31 million.
Financial Summary
| Metric | Q2 FY2026 (Oct-Dec 2025) | Q2 FY2025 (Oct-Dec 2024) | H1 FY2026 (Jul-Dec 2025) | H1 FY2025 (Jul-Dec 2024) |
|---|---|---|---|---|
| Revenue | $2,814 | $5,312 | $4,902 | $11,303 |
| Gross Profit (Loss) | ($5,241) | ($5,750) | ($10,120) | ($9,476) |
| Operating Loss | ($124,581) | ($199,818) | ($209,755) | ($264,452) |
| Net Loss | ($129,161) | ($218,757) | ($202,593) | ($286,543) |
| EPS (Basic) | $0.00 | $0.00 | $0.00 | $0.00 |
The company reported no income tax expense for any of the periods. Cash from investing activities was zero for both the current and prior-year six-month periods.