Company: TPET
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0001493152-25-013189
Chunk: 51

Company: Trio Petroleum Corp.
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 51
---
  
    Weighted Average Remaining Life in 
Years  
    Intrinsic Value 

    Outstanding, November 1, 2023 
     6,000  
    $10.46  
     4.8  
    $- 
  
    Issued 
     -  
     -  
     -  
     - 
  
    Outstanding, July 31, 2024 
     6,000  
    $10.46  
     4.0  
    $- 

    Exercisable, July 31, 2024 
     6,000  
    $10.46  
     4.0  
    $- 

    23

A
summary of outstanding and exercisable options as of July 31, 2025 is presented below:

 SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS

    Options Outstanding  
    Options Exercisable 
  
    Exercise Price  
    Number of Shares  
    Weighted Average Remaining Life in Years  
    Number of Shares 
  
    $10.46  
     6,000  
     3.0  
     6,000 

     6,000  
        
     6,000 

On
August 15, 2023, the Company issued five-year options to purchase 6,000
shares of the Company’s common stock to a consultant of the Company, pursuant to the 2022 Plan. The options have an exercise
price of $10.46
per share and vest monthly over a period of 24
months, beginning on the vesting commencement date. The options have a grant date fair value of $55,711,
which will be recognized over the vesting term.

The
assumptions used in the Black-Scholes valuation method for these options issued in 2023 were as follows:

 SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES VALUATION METHOD FOR OPTIONS

    Risk free interest rate 
     4.36%
  
    Expected term (years) 
     5.0 
  
    Expected volatility 
     137.1%
  
    Expected dividends rate 
     0%

NOTE
10 – SUBSEQUENT EVENTS

In
accordance with ASC 855 – Subsequent Events, which establishes general standards of accounting for and disclosure of events