Benjamin Eshun put the Dansoman-based club ahead from the spot in first half while
Alhaji Mustapha equalised for Dwarfs, with Dennis Korsah fetching the match-winner to seal their first victory in six games.
"It was an interesting game and I think we ended up as losers because we failed to utilise our chances," Boateng said.
"We didn't finish Dwarfs when we had the opportunity to do so and I'm a bit disappointed because we didn't deserve to lose this game at all.
"The strikers were a little disappointing since they have let everybody down. We could've scored more than three or four goals and bury the game before Dwarfs could even think of coming back to pick a draw," he added.
Boateng also advised the supporters to minimise the criticisms and support the club as he is still working to achieve results.
"I'll advise the supporters to remain united and support us because we are doing our best to rectify the situation," he said.
"We'll be going back to the drawing board and critically discuss what went wrong. I believe we'll improve in our subsequent matches and everyone will be happy."
Liberty sit 15th on the log with seven points and will host Dreams FC at the Red Bull Arena in Sogakope on Wednesday.