Company: TPET
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0001493152-25-013189
Chunk: 9

Company: Trio Petroleum Corp.
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 Loss on abandonment of oil and gas properties 
     611,763  

    Loss on debt extinguishment 
     90,200  
     - 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     (95,785) 
     - 
  
    Prepaid expenses and other receivables 
     75,874  
     (191,186)
  
    Accounts payable and accrued liabilities 
     366,185  
     826,161 
  
    Other liabilities 
     (337,059) 
     556,727 
  
    Net cash (used in)/provided by operating activities 
     (2,015,896) 
     118,642 

    CASH FLOWS FROM INVESTING ACTIVITIES: 

    Capital expenditures for unproved oil and gas properties 
     (893,149) 
     (1,135,543)
  
    Due to operators 
     (73,406) 
     (3,018)
  
    Net cash used in investing activities 
     (966,555) 
     (1,138,561)

    CASH FLOWS FROM FINANCING ACTIVITIES: 

    Proceeds from issuance of common shares in connection with ATM agreement 
     3,475,648  
     - 
  
    Payment of convertible note payable 
     -  
     (2,550,000)
  
    Proceeds from promissory notes 
     -  
     1,836,880 
  
    Proceeds from note payable - related party 
     -  
     125,000 
  
    Payment for debt issuance costs 
     (43,330) 
     (210,778)
  
    Payment of related party debt 
     (199,332) 
     - 
  
    Proceeds from issuance of convertible debt 
     606,000  
     550,000 
  
    Payment of promissory notes 
     (588,635) 
     - 
  
    Net cash provided by/(used in) financing activities 
     3,250,351  
     (248,898)

    Effect of foreign currency exchange 
     30,520  
     - 

    NET CHANGE IN CASH 
     298,420  
     (1,