Home / Going-concern warnings / Trio Petroleum Corp
Filed 2026-01-20 路 Form 10-K 路 Accession 0001493152-26-002848 nano
Price before filing: $7.65 (2026-01-16 close, split/dividend-adjusted)
Market cap at flag: $8.8M (2026-01-20) 路 Latest: $7.9M (2026-10-16)
| Window | TPET | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -44.3% | -1.0% | -43.3% | 2026-02-19 |
| 90 days | -42.5% | +2.7% | -45.2% | 2026-04-20 |
| 180 days | -62.6% | +7.9% | -70.5% | 2026-07-20 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 2 insiders sold 62,500 shares (2 sales)
30 days after: 3 insiders sold $13K (3 sales, 2 without a usable price)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-01-08 | PERNICE THOMAS J Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-01-14 | Ross Robin A. Chief Executive Officer, Director | Sale | 37,500 | n/a | n/a | yes | Form 4 |
| 2026-01-20: red flag filed | |||||||
| 2026-02-02 | Randall John W. Director | Sale | 20,000 | $0.64 | $13K | yes | Form 4 |
| 2026-02-11 | Ross Robin A. Chief Executive Officer, Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-02-12 | PERNICE THOMAS J Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-10-22 to 2026-02-19. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As discussed in Note 3 to the financial statements, the entity has suffered loss from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: Bush & Associates CPA LLC
Source: independent auditor report in Form 10-K (period 2025-10-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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