Company: TPET
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001641172-25-014516
Chunk: 59

Company: Trio Petroleum Corp.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
 Accretion expenses 
     694  
     694  
     -  
     0.0%
  
    Total operating expenses 
     882,988  
     2,021,514  
     (1,138,526) 
     (56.3)%
  
    Loss from Operations 
     (868,979) 
     (1,948,591) 
     1,079,612  
     (55.4)%

    Other expenses: 

    Interest expenses 
     30,154  
     982,691  
     (952,537) 
     (96.9)%
  
    Settlement fees 
     -  
     10,500  
     (10,500) 
     (100.0)%
  
    Loss on abandonment of oil and gas properties 
     574,419  
     -  
     574,419  
     100.0%
  
    Loss on extinguishment 
     90,200  
     -  
     90,200  
     100.0%
  
    Loss on note conversion 
     -  
     1,104,153  
     (1,104,153) 
     (100.0)%
  
    Total other expenses 
     694,773  
     2,097,344  
     (1,402,571) 
     (66.9)%
  
    Loss before income taxes 
     (1,563,752) 
     (4,045,935) 
     2,482,183  
     (61.4)%
  
    Income tax benefit 
     -  
     -  
     -  
     - 
  
    Net loss 
    $(1,563,752) 
    $(4,045,935) 
    $2,482,183  
     (61.4)%

28

Revenues,
net

Revenues,
net decreased for the three months ended April 30, 2025 by approximately $50,000 as compared to the prior period; revenues from the
prior period were from the sale of approximately 2,100 barrels of oil from our McCool Ranch field, which operations were terminated
in May 2025. Current revenues