Company: TPET
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001641172-25-014516
Chunk: 8

Company: Trio Petroleum Corp.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 (322,366)
  
    Loss on issuance of common shares in lieu of cash principal payments on debt 
     80,702  
     - 
  
    Loss on abandonment of oil and gas properties 
     574,419  

    Loss on debt extinguishment 
     90,200  
     - 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     (31,571) 
     - 
  
    Prepaid expenses and other receivables 
     22,223  
     (450,812)
  
    Accounts payable and accrued liabilities 
     98,368  
     392,714 
  
    Other liabilities 
     (295,663) 
     401,657 
  
    Net cash (used in)/provided by operating activities 
     (1,660,469) 
     682,525 

    CASH FLOWS FROM INVESTING ACTIVITIES: 

    Capital expenditures for unproved oil and gas properties 
     (397,437) 
     (1,060,931)
  
    Due to operators 
     (56,179) 
     42,227 
  
    Advances to operators 
     -  
     - 
  
    Net cash used in investing activities 
     (453,616) 
     (1,018,704)

    CASH FLOWS FROM FINANCING ACTIVITIES: 

    Proceeds from issuance of common shares in connection with ATM agreement 
     3,475,648  
     - 
  
    Payment of convertible note payable 
     -  
     (2,550,000)
  
    Proceeds from promissory notes 
     -  
     1,036,880 
  
    Proceeds from note payable - related party 
     -  
     125,000 
  
    Payment for debt issuance costs 
     (43,330) 
     (166,978)
  
    Payment of related party debt 
     (199,332) 
     - 
  
    Proceeds from issuance of convertible debt 
     606,000  
     550,000 
  
    Payment of promissory notes 
     (588,636) 
     - 
  
    Net cash provided by/(used in) financing activities 
     3,