Company: TPET
Filing Date: 2025-04-15
Form Type: 10-K/A
Source: 0001641172-25-004910
Chunk: 158

Company: Trio Petroleum Corp.
Filing Date: 2025-04-15
Form: 10-K/A
Chunk 158
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 March 20, 2024, the Company issued 5,000shares of common stock to a consultant as a settlement for non-performed marketing services per an agreement dated November 2021; such shares were issued at a fair value of $ 2.20per share for a total value of $ 10,500.

On March 26, 2024, the Company entered into an agreement with consultants to provide marketing services; the agreement has an effective date of April 26, 2024 and a term from April 1, 2024 through June 30, 2024. The terms provide for a one-time cash payment of $ 100,000or, in lieu of a cash payment, the Company may elect to complete a one-time equity issuance in the form of 50,000shares of common stock, as well as three monthly cash payments totaling $ 30,000to be paid in the first fiscal half of 2024. The Company issued 50,000shares of common stock at a fair value of $ 7.40per share for a total amount of $ 368,000.

On April 16, 2024 and April 24, 2024, the Company issued 37,500shares of common stock and 37,500shares of common stock respectively, to the April 2024 Investors as and for a commitment fee in connection with the April 2024 Financings. The commitment shares were issued at fair values of $ 9.80per share and $ 8.00per share, respectively, for values totaling $ 366,000and $ 301,500, respectively.

On April 29, 2024, the Company entered into an agreement with consultants to provide marketing services; the agreement has a term from April 29, 2024 through October 29, 2024. The terms provide for a $ 30,000cash payment and the issuance of 30,000shares of common stock. The Company issued 30,000shares of common stock at a fair value of $ 7.40per share for a total amount of $ 220,800.

On September 9, 2024, the Company entered into a media advertising agreement with a consultant; the agreement has an initial term of sixty days and provides for a $ 100,000cash payment ($ 50,000upon signing and $ 50,000after 30 days) and the issuance of 12,500shares of common