Company: TPET
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0001493152-25-010362
Chunk: 1

Company: Trio Petroleum Corp.
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 -0- shares issued and outstanding at January 31, 2025 and October 31, 2024, respectively 
     -  
     - 
  
    Common stock, $0.0001 par value; 490,000,000 shares authorized; 6,725,702 and 3,203,068 shares issued and outstanding as of January 31, 2025 and October 31, 2024, respectively  
     672  
     320 
  
    Stock subscription receivable 
     (10,010) 
     (10,010)
  
    Additional paid-in capital 
     33,391,096  
     29,125,917 
  
    Accumulated deficit 
     (21,689,204) 
     (20,073,679)
  
    Total
    stockholders’ equity 
     11,692,554  
     9,042,548 

    Total
    liabilities and stockholders’ equity 
    $13,212,303  
    $11,684,338 

The
accompanying notes are an integral part of these condensed financial statements.

3

TRIO
PETROLEUM CORP.

CONDENSED
STATEMENTS OF OPERATIONS

(Unaudited)

    2025  
    2024 

    For
    the Three Months Ended January 31, 

    2025  
    2024 

    Revenues,
    net 
    $10,819  
    $- 

    Operating expenses: 

    Exploration expense 
    $24,721  
    $84,594 
  
    General and administrative
    expense 
     711,546  
     957,690 
  
    Stock-based compensation
    expense 
     490,314  
     407,618 
  
    Accretion
    expense 
     695  
     695 
  
    Total operating expenses 
     1,227,276  
     1,450,597 

    Loss from operations 
     (1,216,457) 
     (1,450,597)

    Other expenses: 

    Interest expense 
     318,366  
     159,298 
  
    Loss
    on note conversion 
     80,702  
     92,153 
  
    Total other