Company: TPET
Filing Date: 2025-01-30
Form Type: 10-K/A
Source: 0001493152-25-004268
Chunk: 52

Company: Trio Petroleum Corp.
Filing Date: 2025-01-30
Form: 10-K/A
Chunk 52
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ings. The commitment shares were issued at fair values of $ 9.80per share and $ 8.00per share, respectively, for values totaling $ 366,000and $ 301,500, respectively.

On April 29, 2024, the Company entered into an agreement with consultants to provide marketing services; the agreement has a term from April 29, 2024 through October 29, 2024. The terms provide for a $ 30,000cash payment and the issuance of 30,000shares of common stock. The Company issued 30,000shares of common stock at a fair value of $ 7.40per share for a total amount of $ 220,800.

On September 9, 2024, the Company entered into a media advertising agreement with a consultant; the agreement has an initial term of sixty days and provides for a $ 100,000cash payment ($ 50,000upon signing and $ 50,000after 30 days) and the issuance of 12,500shares of common stock. The Company issued the shares at a fair value of $ 3.60for a total amount of $ 43,800.

On September 26, 2024, October 1, 2024, and October 30, 2024, the Company made principal payments towards the June 2024 Notes in the amounts of $ 88,888, $ 50,000and $ 88,888, respectively, which it converted into shares at 103% for conversion amounts of $ 91,556, $ 51,500and $ 91,556, respectively. Conversion shares were issued numbering 30,520, 17,167and 38,150, respectively, at fair values per share of $ 3.38, $ 3.66and $ 2.58, respectively, for total amounts of $ 103,091, $ 62,830and $ 98,422, respectively. An additional 2,317shares were issued on October 11, 2024 at a fair value of $ 3.38for a total amount of $ 7,838; the share issuance was made to satisfy a make-whole-share provision which the debtor is entitled to when the effective price of the shares becomes less than the floor price.

On October 1, 2024, the Company made aggregate principal payments towards the April 2024 Debt Financings in the