An amendment is grouped with the report it
amends; every 12b-25 notice is one group
Going concern
Filing comparison
Trio Petroleum Corp said management's plans alleviate substantial doubt about going concern
Substantial doubt about ability to continue as a going concern→Substantial doubt raised, alleviated by management's plans
The Company has incurred significant losses since inception and, as of April 30, 2026, had an accumulated deficit of approximately $29,735,797. The Company has also experienced negative cash flows from operations. These factors previously raised substantial doubt about the Company’s ability to continue as a going concern. During the six months ended April 30, 2026, the Company sold an aggregate of 28,013,007 shares of common stock under its ATM Agreement with Ladenburg for total gross proceeds of $24,207,304. Subsequent to April 30, 2026 and through the date of issuance of these condensed…
Evidence
Blank check
No
Comparable
Yes
Current state
doubt_alleviated
Current state label
Substantial doubt raised, alleviated by management's plans
Direction
eased
Located in
going-concern note
Prior filed
2026-03-17
Prior form
10-Q
Prior state
substantial_doubt
Prior state label
Substantial doubt about ability to continue as a going concern
Source
ASC 205-40 going-concern note comparison
Why
Disclosure about the company's ability to continue as a going concern changed compared with its previous report.
Trio Petroleum Corp disclosed substantial doubt about its ability to continue as a going concern in its first report following a change of registrant
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
… of approximately $4,650,000 under an “at-the-market” agreement entered into in September 2024 ● Gross proceeds of $606,000 from a private placement of convertible debt financing in April 2025 ● Gross proceeds of $1,020,000 from a private placement of convertible debt financing in August 2025 Despite these financings, our recurring losses, accumulated deficit, and working capital deficit raise substantial doubt about our ability to continue as a going concern. Our current revenue levels are insufficient to cover operating costs, and we remain dependent on external financing to sustain…
Evidence
Blank check
No
Caveat
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
Comparable
No
Current state
substantial_doubt
Current state label
Substantial doubt about ability to continue as a going concern
Direction
not comparable
Located in
going-concern note
Prior filed
2025-04-15
Prior form
10-K/A
Registrant changed from
Trio Petroleum Corp.
Source
ASC 205-40 going-concern note comparison
Why
Disclosure about the company's ability to continue as a going concern changed compared with its previous report.