Company: TPET
Filing Date: 2025-06-10
Form Type: 10-Q
Source: 0001641172-25-014516
Chunk: 9

Company: Trio Petroleum Corp.
Filing Date: 2025-06-10
Form: 10-Q
Item: Part I, Item 1
Chunk 9
---
250,350  
     (1,005,098)

    Effect of foreign currency exchange  
     34,846  
     - 

    NET CHANGE IN CASH  
     1,171,111  
     (1,341,277)
  
    Cash - Beginning of period 
     285,945  
     1,561,924 
  
    Cash - End of period 
    $1,457,056  
    $220,647 

    Supplemental disclosures of cash flow information: 

    Cash paid for interest  
    $-  
    $- 
  
    Cash paid for income taxes  
    $-  
    $- 

    SUPPLEMENTAL CASH FLOW INFORMATION: 

    Non-cash investing and financing activities: 

    Issuance of shares to executives and directors 
    $21  
    $- 
  
    Issuance of warrants 
    $-  
    $151,490 
  
    Issuance of commitment shares 
    $-  
    $667,500 

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

6

TRIO
PETROLEUM CORP.

NOTES
TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE THREE AND SIX MONTHS ENDED APRIL 30, 2025

NOTE
1 – NATURE OF THE ORGANIZATION AND BUSINESS

Company
Organization

Trio
Petroleum Corp. (“Trio Petroleum”, the “Company” or “TPET”) is a California-based oil and gas
exploration and development company headquartered in Malibu, California, with its principal executive offices located at 23823
Malibu Road, Suite 304, Malibu, California 90265, and with operations in Monterey County, California, Uintah County, Utah and
Lloydminster, Saskatchewan. The Company was incorporated on July 19, 2021, under the laws of Delaware to acquire, fund, and operate
oil and gas exploration, development and production projects, initially focusing on one major asset in California, the South Salinas
Project (“South Salinas Project”). The Company has since acquired interests in the McCool Ranch Oil Field in Monterey
County, California, in the Asphalt Ridge Project in Uintah County, Utah and in the heavy oil region of Saskatchewan