Company: TPET
Filing Date: 2025-03-14
Form Type: 10-Q
Source: 0001493152-25-010362
Chunk: 118

Company: Trio Petroleum Corp.
Filing Date: 2025-03-14
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 months ended January 31, 2025 and 2024 are summarized as follows:

    For the Three Months Ended January 31,  

    2025  
    2024  
    Change  
    % Change 
  
    Revenues, net 
    $10,819  
    $-  
    $10,819  
     NM 
  
    Operating expenses: 

    Exploration expenses 
    $24,721  
    $84,954  
    $(59,873) 
     (70.8)%
  
    General and administrative expenses 
     711,546  
     957,690  
     (246,144) 
     (25.7)%
  
    Stock-based compensation expense 
     490,314  
     407,618  
     82,696  
     20.3%
  
    Accretion expenses 
     695  
     695  
     -  
     0.0%
  
    Total operating expenses 
     1,227,276  
     1,450,597  
     (223,321) 
     (15.4)%
  
    Loss from Operations 
     (1,216,457) 
     (1,450,597) 
     234,140  
     (16.1)%

    Other expenses: 

    Interest expenses 
     318,366  
     159,298  
     159,068  
     99.9%
  
    Loss on note conversion 
     80,702  
     92,153  
     (11,451) 
     (12.4)%
  
    Total other expenses 
     399,068  
     251,451  
     147,617  
     58.7%
  
    Loss before income taxes 
     (1,615,525) 
     (1,702,048) 
     86,523  
     (5.1)%
  
    Income tax benefit 
     -  
     -  
     -  
     - 
  
    Net loss 
    $(1,615,525) 
    $(1,702,048) 
    $86,523  
     (5.1)%