Home / Going-concern warnings / Trio Petroleum Corp
Filed 2026-06-11 路 Form 10-Q 路 Accession 0001493152-26-028279 nano
Price before filing: $3.58 (2026-06-10 close, split/dividend-adjusted)
Market cap at flag: $9.7M (2026-06-11) 路 Latest: $7.9M (2026-10-16)
| Window | TPET | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -15.6% | +3.5% | -19.2% | 2026-07-13 |
| 90 days | -49.4% | +5.4% | -54.8% | 2026-09-09 |
| 180 days | pending | pending | until 2026-12-08 |
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: 3 insiders sold $8K (6 sales, 5 without a usable price)
30 days after: 1 insider sold 25,000 shares (1 sale)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-04-08 | Ross Robin A. Chief Executive Officer, Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-04-14 | PERNICE THOMAS J Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-05-01 | Randall John W. Director | Sale | 15,000 | $0.51 | $8K | yes | Form 4 |
| 2026-05-06 | Ross Robin A. Chief Executive Officer, Director | Sale | 12,500 | n/a | n/a | yes | Form 4 |
| 2026-05-07 | PERNICE THOMAS J Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-06-03 | Ross Robin A. Chief Executive Officer, Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-06-11: red flag filed | |||||||
| 2026-06-11 | 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 2026-03-13 to 2026-07-11. 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.
"These factors previously raised substantial doubt about the Company's 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.
Source: management disclosure in Form 10-Q (period 2026-04-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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