Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 530

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 1B
Chunk 530
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    Convertible
    note, net of discounts 
     -  
     1,217,597 
  
    Due
    to operators 
     103,146  
     21,651 
  
    Promissory
    notes, net of discounts 
     742,852  
     - 
  
    Note
    payable - related party 
     135,000  
     - 
  
    Payable – related party 
     115,666  
     - 
  
    Other
    current liabilities 
     454,966  
     - 
  
    Total
    current liabilities 
     2,590,699  
     1,851,386 

    Long-term
    liabilities: 

    Asset
    retirement obligations, net of current portion 
     51,091  
     48,313 
  
    Total non-current liabilities 
     51,091  
     48,313 
  
    Total
    liabilities 
     2,641,790  
     1,899,699 

    Commitments
    and Contingencies (Note 8) 
     -   
     -  

    Stockholders’
    Equity: 

    Preferred stock, $0.0001 par value; 500,000 shares authorized; -0- shares issued and outstanding
    at October 31, 2024 and 2023, respectively 
     -  
     - 

    Common stock, $0.0001 par value; 24,500,000 shares authorized; 3,203,068 and 1,552,328
    shares issued and outstanding as of October 31, 2024 and 2023, respectively 
     320  
     155 
  
    Stock
    subscription receivable 
     (10,010) 
     (10,010)
  
    Additional
    paid-in capital 
     29,125,917  
     20,200,121 
  
    Accumulated
    deficit 
     (20,073,679) 
     (10,446,882)
  
    Total
    stockholders’ equity 
     9,042,548  
     9,743,384 

    Total
    liabilities and stockholders’ equity 
    $11,684,338