Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 304

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1
Chunk 304
---
-year period.

To
the extent that we rely on any of the exemptions available to emerging growth companies, you will receive less information about our
executive compensation and internal control over financial reporting than issuers that are not emerging growth companies. If some investors
find our common stock to be less attractive as a result, there may be a less active trading market for our common stock and our stock
price may be more volatile.

We
do not intend to pay dividends on our common stock.

We
do not plan to declare dividends on shares of our common stock in the foreseeable future. Consequently, the only opportunity to achieve
a return on an investment in us will be if the market price of our common stock appreciates, which may not occur, and our shares are
sold at a profit. There is no guarantee that the price of our common stock that will prevail in the market will ever exceed the price
that an investor pays for our common stock.

29

ITEM
1B. UNRESOLVED STAFF COMMENTS.

None.

ITEM
1C. CYBERSECURITY.

Cybersecurity
attacks impact businesses and organizations of all sizes and sectors on a global basis. At Trio, we recognize the importance of developing,
implementing and maintaining a cybersecurity risk management program. We are currently implementing resources to protect our systems and data, from cybersecurity threats. We are dependent on internal and external information technology systems and infrastructure
to securely process, transmit, and store critical information. We are currently in the process of engaging an outsourced security firm for overseeing our cybersecurity.
We seek to reduce cybersecurity risks through a variety of cybersecurity risk management activities that are designed to identify, assess,
manage and mitigate cybersecurity threats.

Risk
Management Strategy

The
Company’s cybersecurity risk management program is focused on the following key areas:

●Governance:
                                            The cybersecurity risk management program is led by our outsourced security team. At present our Board of
                                            Directors does not oversee the cybersecurity risk management program, however, the Audit
                                            Committee of our Board of Directors is in the process of implementing procedures to obtain
                                            regular updates on our cybersecurity program, including recent developments, key initiatives
                                            to strengthen our systems, applicable industry standards, vulnerability assessments, third-party
                                            and independent reviews, and other information security considerations.

●Approach:
                                            We intend to use a cross-functional approach to identifying, preventing, assessing, and mitigating
                                            cybersecurity threats and incidents, while also implementing controls and procedures that
                                            are designed to provide for the prompt