Trio Petroleum Corp
For the period ended Oct 31, 2024. Filed Jan 17, 2025.
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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.
FY2024 · Filed Jan 17, 2025
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, 2024 and 2023
BALANCE SHEETS
| October 31, 2024 | October 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash | $285,945 | $1,561,924 |
| Prepaid expenses and other receivables | 279,274 | 133,417 |
| Total current assets | 565,219 | 1,695,341 |
| Oil and gas properties - not subject to amortization | 11,119,119 | 9,947,742 |
| Total assets | $11,684,338 | $11,643,083 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $1,036,291 | $609,360 |
| Asset retirement obligations – current | 2,778 | 2,778 |
| Convertible note, net of discounts | - | 1,217,597 |
| Due to operators | 103,146 | 21,651 |
| Promissory notes, net of discounts | 742,852 | - |
| Note payable - related party | 135,000 | - |
| Payable – related party | 115,666 | - |
| Other current liabilities | 454,966 | - |
| Total current liabilities | 2,590,699 | 1,851,386 |
| Long-term liabilities: | ||
| Asset retirement obligations, net of current portion | 51,091 | 48,313 |
| Total non-current liabilities | 51,091 | 48,313 |
| Total liabilities | 2,641,790 | 1,899,699 |
| Commitments and Contingencies (Note 8) | - | - |
| Stockholders’ Equity: | ||
| Preferred stock, $0.0001 par value; 500,000 shares authorized; -0- shares issued and outstanding at October 31, 2024 and 2023, respectively | - | - |
| Common stock, $0.0001 par value; 24,500,000 shares authorized; 3,203,068 and 1,552,328 shares issued and outstanding as of October 31, 2024 and 2023, respectively | 320 | 155 |
| Stock subscription receivable | (10,010) | (10,010) |
| Additional paid-in capital | 29,125,917 | 20,200,121 |
| Accumulated deficit | (20,073,679) | (10,446,882) |
| Total stockholders’ equity | 9,042,548 | 9,743,384 |
| Total liabilities and stockholders’ equity | $11,684,338 | $11,643,083 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.