Company: TPET
Filing Date: 2025-04-15
Form Type: 10-K/A
Source: 0001641172-25-004910
Chunk: 163

Company: Trio Petroleum Corp.
Filing Date: 2025-04-15
Form: 10-K/A
Chunk 163
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 of outstanding and exercisable options as of October 31, 2024 and 2023 is presented below:

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS

| Options     
 Outstanding 
 Exercise    
 Price       |       |     | Number 
 of     
 Shares |       |     | Options     
 Exercisable 
 Weighted    
 Average     
 Remaining   
 Life        
 in Years    |     |     | Number 
 of     
 Shares |       |
|:------------|------:|:----|:-------|------:|:----|:------------|----:|:----|:-------|------:|
| $           | 10.46 |     |        | 6,000 |     |             | 3.8 |     |        | 6,000 |
|             |       |     |        | 6,000 |     |             | 3.8 |     |        | 6,000 |

On August 15, 2023, the Company issued five-year options to purchase 6,000shares of the Company’s common stock to a consultant of the Company, pursuant to the Plan. The options have an exercise price of $ 10.46per share and vest monthly over a period of 24months, beginning on the vesting commencement date. The options have a grant date fair value of $ 55,711, which will be recognized over the vesting term.

The assumptions used in the Black-Scholes valuation method for these options issued in 2023 were as follows:

SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES VALUATION METHOD FOR OPTIONS

| Risk free interest rate |     |  4.36 | % |
| Expected term (years)   |     |   5.0 |   |
| Expected volatility     |     | 137.1 | % |
| Expected dividends      |     |     0 | % |

| F-27 |

NOTE 12 – SUBSEQUENT EVENTS

In accordance with ASC 855 – Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events and transactions that occurred after October 31, 2024, through the date the financial statements were issued. Except for the following, there are no subsequent events identified that would require disclosure in the financial statements.

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard from the NY