Trio Petroleum Corp. Announces 1-for-9 Reverse Stock Split
Trio Petroleum Corp. has filed its Form 10-Q for the period ending July 31, 2026, detailing its financial results and announcing a one-for-nine reverse stock split effective August 28, 2026. The company reported an increase in total assets to $37.90 million and a significant rise in cash and cash equivalents to $24.29 million. Revenues for the nine months ended July 31, 2026, were $0.68 million, an improvement from the previous year, though the company still reported a net loss of $4.25 million for the same period. The reverse stock split, which adjusted historical share data, did not result in fractional shares, with cash payments made for entitlements.
Key Highlights
- Trio Petroleum Corp. announced a one-for-nine reverse stock split effective August 28, 2026.
- The reverse stock split adjusted all historical share and per-share amounts retroactively.
- No fractional shares were issued; cash payments were made for fractional entitlements at $1.8819 per share.
- Total assets increased from $13.21M in Oct 2025 to $37.90M in July 2026.
- Net loss for the nine months ended July 31, 2026 was $4.25M, compared to $4.57M in the prior year.
- Cash and cash equivalents significantly increased from $0.88M in Oct 2025 to $24.29M in July 2026.
- Revenues for the nine months ended July 31, 2026 were $0.68M, up from $0.23M in the prior year.
Price Impact
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