Company: TPET
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0001493152-25-013189
Chunk: 10

Company: Trio Petroleum Corp.
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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268,817)
  
    Cash - Beginning of period 
     285,945  
     1,561,924 
  
    Cash - End of period 
    $584,365  
    $293,107 

    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  
    $134,550 
  
    Issuance of warrants 
    $-  
    $409,191 
  
    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 NINE MONTHS ENDED JULY 31, 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 incorporated under the laws of the State of Delaware on July 19, 2021. The Company is headquartered in Bakersfield,
California, with its principal executive offices located at 23823 Malibu Road, Suite 304, Malibu, California 90265.

Trio
Petroleum was formed to acquire, finance, and operate oil and gas exploration, development, and production projects, initially
focusing on its flagship asset in California—the South Salinas Project (“South Salinas Project”). Since inception,
the Company expanded its portfolio to include interests in the McCool Ranch Oil Field in Monterey County, California (which was subsequently abandoned in May 2025), the Asphalt
Ridge Project in Uintah County, Utah, and assets in the heavy oil region of Lloydminster, Saskatchewan, Canada.

The
Company commenced revenue-generating operations on February 22, 2024, with the restart of production at the McCool Ranch Oil Field.
Initial revenues were recognized during the fiscal quarter ended April 30, 2024, with proceeds received