Company: TPET
Filing Date: 2025-02-27
Form Type: 10-K/A
Source: 0001493152-25-008556
Chunk: 52

Company: Trio Petroleum Corp.
Filing Date: 2025-02-27
Form: 10-K/A
Chunk 52
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 Investors as and for a commitment fee in connection with the April 2024 Financings. The commitment shares were issued at fair values of $ 9.80per share and $ 8.00per share, respectively, for values totaling $ 366,000and $ 301,500, respectively.

On April 29, 2024, the Company entered into an agreement with consultants to provide marketing services; the agreement has a term from April 29, 2024 through October 29, 2024. The terms provide for a $ 30,000cash payment and the issuance of 30,000shares of common stock. The Company issued 30,000shares of common stock at a fair value of $ 7.40per share for a total amount of $ 220,800.

On September 9, 2024, the Company entered into a media advertising agreement with a consultant; the agreement has an initial term of sixty days and provides for a $ 100,000cash payment ($ 50,000upon signing and $ 50,000after 30 days) and the issuance of 12,500shares of common stock. The Company issued the shares at a fair value of $ 3.60for a total amount of $ 43,800.

On September 26, 2024, October 1, 2024, and October 30, 2024, the Company made principal payments towards the June 2024 Notes in the amounts of $ 88,888, $ 50,000and $ 88,888, respectively, which it converted into shares at 103% for conversion amounts of $ 91,556, $ 51,500and $ 91,556, respectively. Conversion shares were issued numbering 30,520, 17,167and 38,150, respectively, at fair values per share of $ 3.38, $ 3.66and $ 2.58, respectively, for total amounts of $ 103,091, $ 62,830and $ 98,422, respectively. An additional 2,317shares were issued on October 11, 2024 at a fair value of $ 3.38for a total amount of $ 7,838; the share issuance was made to satisfy a make-whole-share provision which the debtor is entitled to when the effective price of the shares becomes less than the floor price.

On October 1, 2024, the