Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 298

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 298
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 a cause of action arising under the Securities Act, or the rules and regulations
promulgated thereunder. We note, however, that there is uncertainty as to whether a court would enforce this provision and that investors
cannot waive compliance with the federal securities laws and the rules and regulations thereunder. Section 22 of the Securities Act creates
concurrent jurisdiction for state and federal courts over all suits brought to enforce any duty or liability created by the Securities
Act or the rules and regulations thereunder.

This
exclusive forum provision may limit a stockholder’s ability to bring a claim in a judicial forum of its choosing for disputes with
us or our directors, officers or other employees, which may discourage lawsuits against us or our directors, officers or other employees.
In addition, stockholders who do bring a claim in the state or federal court in the State of Delaware could face additional litigation
costs in pursuing any such claim, particularly if they do not reside in or near Delaware. The state or federal court of the State of
Delaware may also reach different judgments or results than would other courts, including courts where a stockholder would otherwise
choose to bring the action, and such judgments or results may be more favorable to us than to our stockholders. However, the enforceability
of similar exclusive forum provisions in other companies’ certificates of incorporation have been challenged in legal proceedings,
and it is possible that a court could find this type of provision to be inapplicable to, or unenforceable in respect of, one or more
of the specified types of actions or proceedings. If a court were to find the exclusive forum provision contained in our amended and
restated certificate of incorporation to be inapplicable or unenforceable in an action, we might incur additional costs associated with
resolving such action in other jurisdictions.

Our
business and results of operations may be materially adversely effected by inflationary pressures.

As
of the date of this Annual Report, inflationary pressures have led to increased construction materials and labor costs, specifically
associated with steel, cement, and other materials. We believe we will continue to experience such pressures in future quarters, as well
as potential delays in our contractors’ ability to requisition such materials. These pressures have led to an overall increase
in budgeted construction costs. No assurance can be given that the costs of our projects will not exceed budgets. Any such cost overruns
or delays could have a material adverse effect on our business.

27

Risks
Relating to Our