Trio Petroleum Corp
For the period ended Oct 31, 2023. Filed Jan 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Jan 29, 2024
TPET$1.64+2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Balance Sheets as of October 31, 2023 and 2022
BALANCE SHEETS
| October 31, 2023 | October 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash | $1,561,924 | $73,648 |
| Prepaid expenses and other receivables | 133,417 | 35,000 |
| Deferred offering costs | - | 1,643,881 |
| Total current assets | 1,695,341 | 1,752,529 |
| Oil and gas properties - not subject to amortization | 9,947,742 | 5,836,232 |
| Advance to operators | - | 1,900,000 |
| Total assets | $11,643,083 | $9,488,761 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $609,360 | $1,164,055 |
| Asset retirement obligations – current | 2,778 | 2,778 |
| Convertible note, net of discounts | 1,217,597 | - |
| Due to operators | 21,651 | - |
| Notes payable - investors, net of discounts | - | 4,403,439 |
| Notes payable - related party, net of discounts | - | 1,025,497 |
| Warrants liability | - | 114,883 |
| Total current liabilities | 1,851,386 | 6,710,652 |
| Long-term liabilities: | ||
| Franchise tax accrual | - | 9,450 |
| Asset retirement obligations, net of current portion | 48,313 | 45,535 |
| Total Long-term liabilities | 48,313 | 54,985 |
| Total liabilities | 1,899,699 | 6,765,637 |
| Commitments and Contingencies (Note 7) | - | - |
| Stockholders’ Equity: | ||
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized; -0- shares issued and outstanding at October 31, 2023 and 2022, respectively | - | - |
| Common stock, $0.0001 par value; 490,000,000 shares authorized; 31,046,516 and 16,972,800 shares issued and outstanding as of October 31, 2023 and 2022, respectively | 3,105 | 1,697 |
| Stock subscription receivable | (10,010) | (10,010) |
| Additional paid-in capital | 20,197,171 | 6,633,893 |
| Accumulated deficit | (10,446,882) | (3,902,456) |
| Total stockholders’ equity | 9,743,384 | 2,723,124 |
| Total liabilities and stockholders’ equity | $11,643,083 | $9,488,761 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.