Company: TPET
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0001493152-25-013189
Chunk: 98

Company: Trio Petroleum Corp.
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 2
Chunk 98
---
 nine months ended July 31, 2024, can be summarized
as follows:

    Nine months ended July 31, 

    2025  
    2024 
  
    Net cash (used in) provided by operating activities 
    $(2,015,896) 
    $118,642 
  
    Net cash used in investing activities 
     (966,555) 
     (1,138,561)
  
    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  
    $(1,268,817)

32

Cash
Flows from Operating Activities

For
the nine months ended July 31, 2025 and 2024, cash (used in) provided by operating activities was $(2,015,896) and $118,642, respectively.
The cash used in operations for the nine months ended July 31, 2025 was primarily attributable to our net loss of $4,566,000, adjusted
for non-cash expenses in the aggregate amount of $2,540,890, as well as $9,215 of net cash used to fund changes in the levels of operating
assets and liabilities. The cash provided by operations for the nine months ended July 31, 2024 was primarily attributable to our net
loss of $7,926,554, adjusted for non-cash expenses in the aggregate amount of $6,853,494, as well as $1,191,702 of net cash provided
to fund changes in the levels of operating assets and liabilities.

Cash
Flows from Investing Activities

For
the nine months ended July 31, 2025 and 2024, cash used in investing activities totaled $966,555 and $1,138,561, respectively. The decrease
in cash used during the current period primarily reflects slightly lower capital investment activity; for the nine months ended July
31, 2025, cash outflows were primarily attributable to approximately $0.8 million in connection with the acquisition of assets related
to the Lloydminster, Saskatchewan properties. In the prior-year period, cash used in investing activities was primarily driven by approximately
$1.1 million in capital expenditures, which were capitalized and reflected in the oil and gas property