Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 57

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 57
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10 per share, the NYSE American may suspend trading of the common stock, until the issuer corrects this via a reverse split of shares after notification by the NYSE American; or (vi) if any other event occurs or any condition exists which makes continued listing on the NYSE American, in its opinion, inadvisable. There are no assurances how the market price of the common stock will be impacted in future periods as a result of the general uncertainties in the capital markets and any specific impact on our Company as a result of the recent volatility in the capital markets.

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On February 26, 2024, we received written notice (the “Notice”) from the NYSE American LLC (“NYSE American”) indicating that we were not in compliance with the continued listing standard set forth in Section 1003(f)(v) of the NYSE American Company Guide (“Section 1003(f)(v)”) because the shares of our common stock had been selling for a substantial period of time at a low price per share. The Notice had no immediate effect on the listing or trading of our shares of common stock and our common stock continued to trade on the NYSE American under the symbol “TPET” with the designation of “.BC” to indicate that the Company was not in compliance with the NYSE American’s continued listing standards. Additionally, the Notice did not result in the immediate delisting of our common stock from the NYSE American.

On
May 1, 2024, we received notice from the NYSE American (the “Stock Price Compliance Notice”) informing
us that we had resolved the continued listing deficiency with respect to the low price of our common stock and regained compliance
with the continued listing requirements, because the 30-day average price of our common Stock was $0.25 ($5.00 on a post-reverse
split basis) as of April 30, 2024. The Stock Price Compliance Notice also provided that the NYSE American could still
commence delisting proceedings and immediately suspend trading of our common stock if it trades at levels viewed to be abnormally
low, which is generally viewed as a price at or below $0.10.

On
November 5, 2024, the Company received notice from NYSE American that the NYSE American had suspended trading of our shares of common
stock, until the effectiveness of the Reverse Stock Split, because our common stock was consistently selling at a low selling
price per share in violation of Section 100