Company: TPET
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0001493152-25-010362
Chunk: 4

Company: Trio Petroleum Corp.
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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    Stock-based compensation 
     -  
     -  
     -  
     407,618  
     -  
     407,618 
  
    Net loss 
     -  
     -  
     -  
     -  
     (1,702,048) 
     (1,702,048)
  
    Balance at January
    31, 2024 
     1,617,507  
     162  
    $(10,010) 
     21,199,104  
    $(12,148,930) 
     9,040,326 
  
    Balance 
     1,617,507  
     162  
    $(10,010) 
     21,199,104  
    $(12,148,930) 
     9,040,326 

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

5

TRIO
PETROLEUM CORP.

CONDENSED
STATEMENTS OF CASH FLOWS

(Unaudited)

    2025  
    2024 

    For
    the Three Months Ended January 31, 

    2025  
    2024 

    CASH FLOWS FROM OPERATING
    ACTIVITIES: 

    Net loss 
    $(1,615,525) 
    $(1,702,048)
  
    Adjustments to reconcile
    net loss to net cash used in operating activities: 

    Issuance of common shares
    for services 
     -  
     95,200 
  
    Issuance of equity warrants
    connected to convertible note 
     -  
     151,490 
  
    Conversion of note payments
    into common shares 
     -  
     344,682 
  
    Accretion expense 
     695  
     695 
  
    Loss on issuance of common
    shares in lieu of cash for debt payments 
     80,703  
     - 
  
    Debt discounts - convertible
    note 
     -  
     (189,990)
  
    Amortization of debt discounts 
     316,106  
     159,298 
  
    Stock-based compensation 
     490,314