Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 1108

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 4
Chunk 1108
---
1,275,979) 
     1,488,276 
  
    Cash
    - Beginning of period 
     1,561,924  
     73,648 
  
    Cash
    - End of period 
    $285,945  
    $1,561,924 

    Supplemental
    disclosures of cash flow information: 

    Cash
    paid for interest 
    $-  
    $- 
  
    Cash
    paid for income taxes 
    $-  
    $- 

    SUPPLEMENTAL
    CASH FLOW INFORMATION: 

    Non-cash
    investing and financing activities: 

    Issuance
    of warrants 
    $409,191  
    $332,630 
  
    Issuance
    of RSUs 
    $911,650  
    $213 
  
    Issuance
    of commitment shares 
    $667,500  
    $- 
  
    Issuance
    of common stock for warrants that can be exercised per the Resale S-1/A 
    $-  
    $120 
  
    Issuance
    of pre-funded warrants 
    $-  
    $4,000 

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

F-6

TRIO
PETROLEUM CORP.

NOTES
TO THE FINANCIAL STATEMENTS

FOR
THE YEARS ENDED OCTOBER 31, 2024 AND 2023

NOTE
1 – NATURE OF THE ORGANIZATION AND BUSINESS

Company
Organization

Trio
Petroleum Corp. (“Trio Petroleum”, the “Company” or “TPET”) is a California-based oil and gas exploration
and development company headquartered in Bakersfield, California, with its principal executive offices located at 5401 Business Park
South, Suite 115, Bakersfield, California 93309, and with operations in Monterey County, California, and Uintah County, Utah. The Company
was incorporated on July 19, 2021, under the laws of Delaware to acquire, fund, and operate oil and gas exploration, development and
production projects, initially focusing on one major asset in California, the South Salinas Project (“South Salinas Project”).
The Company has since acquired interests in the McCool Ranch Oil Field in Monterey County, California, and in the Asphalt Ridge Project