Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 274

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 274
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aries

The
Company has no subsidiaries.

ITEM
1A. RISK FACTORS.

Our
future operating results could differ materially from the results described in this Annual Report due to the risks and uncertainties
described below. You should consider carefully the following information about risks in evaluating our business. If any of the
following risks actually occur, our business, financial condition, results of operations and future growth prospects would likely be
materially and adversely affected. Additional risks and uncertainties not presently known to us or that we currently deem immaterial
also may impair our business operations in these circumstances, the market price of our securities would likely decline. In
addition, we cannot assure investors that our assumptions and expectations will prove to be correct. Important factors could cause
our actual results to differ materially from those indicated or implied by forward-looking statements. See “Item 7.
Management’s Discussion and Analysis of Financial Condition and Results Of Operations - Cautionary Statement Regarding
Forward-Looking Information” for a discussion of some of the forward-looking statements that are qualified by these risk
factors. Factors that could cause or contribute to such differences include those factors discussed below.

Summary
of Risk Factors

Investing
in our common stock involves risks. In addition, our business and operations are subject to a number of risks, which you should be aware
of prior to making a decision to invest in our common stock. These risks are discussed more-fully in the “Item 1A. Risk Factors”
section of this Annual Report beginning on page 16. Below is a summary of these risks.

Risks
Relating to Our Business

    ●
    We
    have a history of operating losses, our management has concluded that factors raise substantial doubt about our ability to continue
    as a going concern and our auditor has included an explanatory paragraph relating to our ability to continue as a going concern in
    its audit report for the years ended October 31, 2024 and 2023.

    ●
    We
    may face delays and/or obstacles in project development due to difficulties in obtaining necessary permits from federal, state, county
    and/or local agencies, which may materially affect our business.

    ●
    Due
    to our contractor model for drilling operations, we will be vulnerable to any inability to engage one or more drilling rigs and associated
    drilling personnel.

    ●
    We
    have faced and may in the future face conflicts of interest in negotiations with related parties, including in