Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 1759

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 8
Chunk 1759
---
    $11,643,083 

The
accompanying notes are an integral part of these financial statements.

F-3

TRIO
PETROLEUM CORP.

STATEMENTS
OF OPERATIONS

    For
                                            the Years Ended  October
                                            31, 

    2024  
    2023 

    Revenue 
    $213,204  
    $- 

    Operating
    expenses: 

    Exploration
    expense 
    $177,416  
    $251,743 
  
    General
    and administrative expenses 
     4,716,057  
     3,315,782 
  
    Stock-based
    compensation expense 
     1,534,667  
     1,044,261 
  
    Accretion
    expense 
     2,778  
     2,778 
  
    Total
    operating expenses 
     6,430,918  
     4,614,564 

    Loss
    from operations 
     (6,217,714) 
     (4,614,564)

    Other
    expenses: 

    Interest
    expense 
     2,118,548  
     791,811 
  
    Loss
    on settlement 
     -  
     13,051 
  
    Loss
    on note conversion 
     1,290,535  
     1,125,000 
  
    Total
    other expenses 
     3,409,083  
     1,929,862 

    Loss
    before income taxes 
     (9,626,797) 
     (6,544,426)
  
    Provision
    for income taxes 
     -  
     - 

    Net
    loss 
    $(9,626,797) 
    $(6,544,426)

    Basic
    and Diluted Net Loss per Common Share 

    Basic 
    $(4.32) 
    $(5.67)
  
    Diluted 
    $(4.32) 
    $(5.67)

    Weighted
    Average Number of Common Shares Outstanding 

    Basic 
     2,226,320  
     1,153,988 
  
    Diluted 
     2,226,320  
     1,153,988