Company: TPET
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0001493152-25-013189
Chunk: 66

Company: Trio Petroleum Corp.
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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5  
    2024  
    Change  
    % Change 
  
    Revenues 
    $226,485  
    $135,975  
    $90,510  
     66.6%
  
    Cost of goods sold 
     107,751  
     -  
     107,751  
     100.0%
  
    Gross profit 
     118,734  
     135,975  
     (17,241) 
     (12.7)%

    Operating expenses: 

    Exploration expense 
    $35,616  
    $132,871  
    $(97,255) 
     (73.2)%
  
    General and administrative expense 
     2,138,768  
     3,759,546  
     (1,620,778) 
     (43.1)%
  
    Stock-based compensation expense 
     702,728  
     1,150,852  
     (448,124) 
     (38.9)%
  
    Accretion expense 
     2,084  
     2,084  
     -  
     0.0%
  
    Total operating expenses 
     2,879,196  
     5,045,353  
     (2,166,157) 
     (42.9)%
  
    Loss from Operations 
     (2,760,462) 
     (4,909,378) 
     2,148,916  
     (43.8)%

    Other expenses: 

    Interest expense 
     496,072  
     1,810,370  
     (1,314,298) 
     (72.6)%
  
    Settlement fees 
     -  
     10,500  
     (10,500) 
     (100.0)%
  
    Loss on abandonment of oil and gas properties 
     611,763  
     -  
     611,763  
     100.0%
  
    Loss on extinguishment of debt 
     90,200  
     -  
     90,200  
     100.0%
  
    Loss on note conversion 
     616,