Company: TPET
Filing Date: 2025-09-11
Form Type: S-8
Source: 0001493152-25-013079
Chunk: 19

Company: Trio Petroleum Corp.
Filing Date: 2025-09-11
Form: S-8
Chunk 19
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 compensation in our periodic reports, proxy statements and registration statements; and      |
| ● | exemptions                                                                                                                              
 from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute  
 payments not previously approved.                                                                                                       |

<div align='center'>Risks Relating to Our Business</div>

We have a history of operating losses, our management has concluded that factors raise substantial doubt about our ability to continue as a going concern and our auditor has included an explanatory paragraph relating to our ability to continue as a going concern in its audit report for the years ended October 31, 2024 and 2023.

For the year ended October 31, 2024, we generated revenues of $213,204, reported a net loss of $9,626,797 and cash flows used in operating activities of $3,840,744. For the six months ended April 30, 2025, we generated revenues of $34,090, reported a net loss of $3,179,277, and cash flows used in operating activities of $1,660,469. As of April 30, 2025, we had an accumulated deficit of $23,252,956. Our management has concluded that our accumulated deficit and limited source of revenue sufficient to cover our cost of operation as well as our dependence on private equity and other financings raise substantial doubt about our ability to continue as a going concern, and our auditor has included an explanatory paragraph relating to our ability to continue as a going concern in its audit report for the years ended October 31, 2024 and 2023.

Our financial statements do not include any adjustments that might result from the outcome of this uncertainty. These adjustments would likely include substantial impairment of the carrying amount of our assets and potential contingent liabilities that may arise if we are unable to fulfill various operational commitments. In addition, the value of our securities, would be greatly impaired. Our ability to continue as a going concern is dependent upon generating sufficient cash flow from operations and obtaining additional capital and financing. If our ability to generate cash flow from operations is delayed or reduced and we are unable to raise additional funding from other sources, we may be unable to continue in business.

We may face delays and/or obstacles in project development due to difficulties in obtaining necessary permits from federal, state, county and/or local agencies, which may materially affect our business.

We are subject to a number of federal, state, county and local laws, regulations and other requirements relating to oil