Company: TPET
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001641172-25-014516
Chunk: 65

Company: Trio Petroleum Corp.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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005,098)
  
    Effect of foreign currency exchange 
     34,846  
     - 
  
    Net change in cash 
    $1,171,111  
    $(1,341,277)

31

Cash
Flows from Operating Activities

For
the six months ended April 30, 2025 and 2024, cash (used in)/provided by operating activities was ($1,660,469) and $682,525, respectively.
The cash used in operations for the six months ended April 30, 2025 was primarily attributable to our net loss of $3,179,277, adjusted
for non-cash expenses in the aggregate amount of $1,725,452, as well as $206,644 of net cash used to fund changes in the levels of operating
assets and liabilities. The cash provided by operations for the six months ended April 30, 2024 was primarily attributable to our net
loss of $5,747,983, adjusted for non-cash expenses in the aggregate amount of $6,086,949, as well as $343,559 of net cash provided to
fund changes in the levels of operating assets and liabilities.

Cash
Flows from Investing Activities

For
the six months ended April 30, 2025 and 2024, cash used in investing activities was $453,616 and $1,018,704, respectively. The cash used
in investing activities during the six months ended April 30, 2025 is attributable to approximately $0.4 million for assets acquired
at the Lloydminster, Saskatchewan properties. The cash used for the six months ended April 30, 2024 is attributable to approximately
$1.1 million related to costs for capital expenditures, which were capitalized and are reflected in the balance of the oil and gas property
as of April 30, 2024. These amounts were offset by approximately $50,000 in amounts due to operators for costs for the South Salinas
Project and the McCool Ranch Option.

Cash
Flows from Financing Activities

For
the six months ended April 30, 2025 and 2024, cash provided by/(used in) financing activities was $3,250,350 and ($1,005,098), respectively.
Cash provided by financing activities during the six months ended April 30, 2025 was primarily attributable to (i) proceeds from the
issuance of common shares in