Company: TPET
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001641172-25-014516
Chunk: 132

Company: Trio Petroleum Corp.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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issory notes of approximately $0.7 million,
(ii) a decrease in notes payable-related parties of $0.2 million and (iii) a decrease in other current liabilities of approximately $0.3
million, offset by increases of approximately $0.6 million and $0.3 million in convertible note debt and deferred consideration payable,
respectively.

Cash
Flows

Our
cash flows for the six months ended April 30, 2025, in comparison to our cash flows for the six months ended April 30, 2024, can be summarized
as follows:

    Six months ended April 30, 

    2025  
    2024 
  
    Net cash (used in)/provided by operating activities 
    $(1,660,469) 
    $682,525 
  
    Net cash used in investing activities 
     (453,616) 
     (1,018,704)
  
    Net cash provided by/(used in) financing activities 
     3,250,350  
     (1,005,098)
  
    Effect of foreign currency exchange 
     34,846  
     - 
  
    Net change in cash 
    $1,171,111  
    $(1,341,277)

31

Cash
Flows from Operating Activities

For
the six months ended April 30, 2025 and 2024, cash (used in)/provided by operating activities was ($1,660,469) and $682,525, respectively.
The cash used in operations for the six months ended April 30, 2025 was primarily attributable to our net loss of $3,179,277, adjusted
for non-cash expenses in the aggregate amount of $1,725,452, as well as $206,644 of net cash used to fund changes in the levels of operating
assets and liabilities. The cash provided by operations for the six months ended April 30, 2024 was primarily attributable to our net
loss of $5,747,983, adjusted for non-cash expenses in the aggregate amount of $6,086,949, as well as $343,559 of net cash provided to
fund changes in the levels of operating assets and liabilities.

Cash
Flows from Investing Activities

For
the six months ended April 30, 2025 and 2024, cash used in investing activities was $453,616 and $1