2025 Q1 Form 10-K Financial Statement
#000149315225002760 Filed on January 17, 2025
Income Statement
Concept | 2025 Q1 | 2024 Q4 | 2024 |
---|---|---|---|
Revenue | $213.2K | ||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $6.431M | ||
YoY Change | 39.48% | ||
Operating Profit | -$6.218M | ||
YoY Change | 34.85% | ||
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | -$3.409M | ||
YoY Change | 76.29% | ||
Pretax Income | -$9.627M | ||
YoY Change | 47.1% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$9.627M | ||
YoY Change | 47.1% | ||
Net Earnings / Revenue | -4515.3% | ||
Basic Earnings Per Share | -$4.32 | ||
Diluted Earnings Per Share | -$4.32 | ||
COMMON SHARES | |||
Basic Shares Outstanding | 6.726M shares | 2.226M shares | |
Diluted Shares Outstanding | 2.226M shares |
Balance Sheet
Concept | 2025 Q1 | 2024 Q4 | 2024 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $285.9K | ||
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $279.3K | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $565.2K | ||
YoY Change | -66.66% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $11.12M | ||
YoY Change | 11.78% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $565.2K | ||
Total Long-Term Assets | $11.12M | ||
Total Assets | $11.68M | ||
YoY Change | 0.35% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.591M | ||
YoY Change | 39.93% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $51.09K | ||
YoY Change | 5.75% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.591M | ||
Total Long-Term Liabilities | $51.09K | ||
Total Liabilities | $2.642M | ||
YoY Change | 39.06% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$20.07M | ||
YoY Change | 92.15% | ||
Common Stock | $320.00 | ||
YoY Change | -89.69% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $9.043M | ||
YoY Change | |||
Total Liabilities & Shareholders Equity | $11.68M | ||
YoY Change | 0.35% |
Cashflow Statement
Concept | 2025 Q1 | 2024 Q4 | 2024 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$9.627M | ||
YoY Change | 47.1% | ||
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$3.841M | ||
YoY Change | -4.86% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$1.090M | ||
YoY Change | -50.23% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $3.655M | ||
YoY Change | -52.63% | ||
NET CHANGE | |||
Cash From Operating Activities | -$3.841M | ||
Cash From Investing Activities | -$1.090M | ||
Cash From Financing Activities | $3.655M | ||
Net Change In Cash | -$1.276M | ||
YoY Change | -185.74% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$3.841M | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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AllocatedShareBasedCompensationExpense
|
1044261 | usd |
CY2023 | us-gaap |
Accretion Expense
AccretionExpense
|
2778 | usd |
CY2024 | us-gaap |
Operating Expenses
OperatingExpenses
|
6430918 | usd |
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
4614564 | usd |
CY2024 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-6217714 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4614564 | usd |
CY2024 | us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
2118548 | usd |
CY2023 | us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
791811 | usd |
CY2023 | TPET |
Loss On Settlement
LossOnSettlement
|
13051 | usd |
CY2024 | TPET |
Loss On Note Conversion
LossOnNoteConversion
|
1290535 | usd |
CY2023 | TPET |
Loss On Note Conversion
LossOnNoteConversion
|
1125000 | usd |
CY2024 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-3409083 | usd |
CY2023 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1929862 | usd |
CY2024 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-9626797 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-6544426 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9626797 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6544426 | usd |
CY2024 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-4.32 | |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-5.67 | |
CY2024 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-4.32 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-5.67 | |
CY2024 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2226320 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1153988 | shares |
CY2024 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2226320 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
1153988 | shares |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9743384 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
3323587 | usd |
CY2024 | TPET |
Stock Issued During Period Value Promissory Notes
StockIssuedDuringPeriodValuePromissoryNotes
|
1079037 | usd |
CY2024 | TPET |
Stock Issued During Period Value Issued To Consultants
StockIssuedDuringPeriodValueIssuedToConsultants
|
738300 | usd |
CY2024 | us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
409191 | usd |
CY2024 | TPET |
Stock Issued During Period Value Issuance Of Commitment Shares Related To The Spa
StockIssuedDuringPeriodValueIssuanceOfCommitmentSharesRelatedToTheSPA
|
667500 | usd |
CY2024 | TPET |
Stock Issued During Period Value Issued Related To Atm Agreement
StockIssuedDuringPeriodValueIssuedRelatedToATMAgreement
|
1173679 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
1534667 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9626797 | usd |
CY2024Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9042548 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2723124 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2723124 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
372000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
5164875 | usd |
CY2023 | TPET |
Stock Issued During Period Value Issuance Of Commitment Shares Related To The Spa
StockIssuedDuringPeriodValueIssuanceOfCommitmentSharesRelatedToTheSPA
|
1125000 | usd |
CY2023 | TPET |
Stock Issued During Period Value Issuance Of Common Shares In Ipo Net Of Underwriting Discounts And Offering Costs
StockIssuedDuringPeriodValueIssuanceOfCommonSharesInIPONetOfUnderwritingDiscountsAndOfferingCosts
|
3342626 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
4000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
1812635 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
366659 | usd |
CY2023 | us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
332630 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
1044261 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6544426 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9743384 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9743384 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9626797 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6544426 | usd |
CY2023 | TPET |
Franchise Tax Fee And Income
FranchiseTaxFeeAndIncome
|
-9450 | usd |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
25000 | usd |
CY2024 | us-gaap |
Accretion Expense
AccretionExpense
|
2778 | usd |
CY2023 | us-gaap |
Accretion Expense
AccretionExpense
|
2778 | usd |
CY2023 | TPET |
Conversion Of Agreement
ConversionOfAgreement
|
1125000 | usd |
CY2024 | TPET |
Debt Discount Premium
DebtDiscountPremium
|
-347968 | usd |
CY2023 | TPET |
Debt Discount Premium
DebtDiscountPremium
|
-140000 | usd |
CY2024 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
2092671 | usd |
CY2023 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
473240 | usd |
CY2024 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
738300 | usd |
CY2024 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1534667 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1044261 | usd |
CY2024 | TPET |
Loss On Issuance Of Common Shares In Lieu Of Cash For Debt Payments
LossOnIssuanceOfCommonSharesInLieuOfCashForDebtPayments
|
1022534 | usd |
CY2024 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
145857 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
123417 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
454966 | usd |
CY2024 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
433962 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
110180 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3840744 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4036834 | usd |
CY2024 | us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
1171377 | usd |
CY2023 | us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
362022 | usd |
CY2023 | us-gaap |
Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
|
3749488 | usd |
CY2023 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
1900000 | usd |
CY2024 | us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
81495 | usd |
CY2023 | us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
21651 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1089882 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2189859 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
738659 | usd |
CY2024 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
250666 | usd |
CY2024 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
550000 | usd |
CY2023 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
2000000 | usd |
CY2024 | us-gaap |
Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
|
2292972 | usd |
CY2024 | TPET |
Proceeds From Issuance Of Common Shares Related To Atm Agreement
ProceedsFromIssuanceOfCommonSharesRelatedToAtmAgreement
|
1173679 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
6000000 | usd |
CY2023 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
1812635 | usd |
CY2024 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
352767 | usd |
CY2023 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
1472512 | usd |
CY2024 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
259903 | usd |
CY2023 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
350320 | usd |
CY2023 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
1013493 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3654647 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7714969 | usd |
CY2024 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1275979 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1488276 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1561924 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
73648 | usd |
CY2024Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
285945 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1561924 | usd |
CY2024 | TPET |
Issuance Of Warrants Equity Classified
IssuanceOfWarrantsEquityClassified
|
409191 | usd |
CY2023 | TPET |
Issuance Of Warrants Equity Classified
IssuanceOfWarrantsEquityClassified
|
332630 | usd |
CY2024 | us-gaap |
Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
|
911650 | shares |
CY2023 | us-gaap |
Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
|
213 | shares |
CY2024 | TPET |
Issuance Of Commitment Shares
IssuanceOfCommitmentShares
|
667500 | usd |
CY2023 | TPET |
Issuance Of Common Stock For Excercisable Warrants
IssuanceOfCommonStockForExcercisableWarrants
|
120 | usd |
CY2023 | TPET |
Issuance Of Prefunded Warrants
IssuanceOfPrefundedWarrants
|
4000 | usd |
CY2024 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_800_eus-gaap--NatureOfOperations_zZ8aYuA0laei" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_82F_zrjXocfRCGN1">NATURE OF THE ORGANIZATION AND BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Company Organization</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trio Petroleum Corp. (“Trio Petroleum”, the “Company” or “TPET”) is a California-based oil and gas exploration and development company headquartered in Bakersfield, California, with its principal executive offices located at 5401 Business Park South, Suite 115, Bakersfield, California 93309, and with operations in Monterey County, California, and Uintah County, Utah. The Company was incorporated on July 19, 2021, under the laws of Delaware to acquire, fund, and operate oil and gas exploration, development and production projects, initially focusing on one major asset in California, the South Salinas Project (“South Salinas Project”). The Company has since acquired interests in the McCool Ranch Oil Field in Monterey County, California, and in the Asphalt Ridge Project in Uintah County, Utah. The Company has had revenue-generating operations since the McCool Ranch Oil Field was restarted on February 22, 2024, and recognized its first revenues in the fiscal quarter ended April 30, 2024, and received the proceeds from these operations in June 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Acquisition of South Salinas Project</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company was initially formed to acquire from Trio Petroleum LLC (“Trio LLC”) an approximate <span id="xdx_909_eus-gaap--BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_iI_pid_dp_uPure_c20231031__dei--LegalEntityAxis__custom--TrioLLCMember__us-gaap--BusinessAcquisitionAxis__custom--SouthSalinasProjectMember_zZt6WetQdkR8" title="Business acquisition increase in percentage of working interest">82.75</span>% working interest (which was subsequently increased to an approximate <span id="xdx_901_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_uPure_c20230430__dei--LegalEntityAxis__custom--TrioLLCMember__us-gaap--BusinessAcquisitionAxis__custom--SouthSalinasProjectMember_z3YoHjdIxQmd" title="Business acquisition percentage">85.775</span>% working interest in April 2023), in the large, approximately <span id="xdx_907_eus-gaap--AreaOfLand_iI_uAcre_c20231031__dei--LegalEntityAxis__custom--TrioLLCMember__us-gaap--BusinessAcquisitionAxis__custom--SouthSalinasProjectMember_ziV0GMVVmM81" title="Acres of property">9,300</span>-acre South Salinas Project that is located in Monterey County, California, and subsequently partner with certain members of Trio LLC’s management team to develop and operate those assets. In September 2021, the Company entered into a Purchase and Sale Agreement (“Trio LLC PSA”) with Trio LLC to acquire the purchased percentage of the South Salinas Project’s leases, wells and inventory in exchange for $<span id="xdx_909_eus-gaap--PaymentsToAcquireBusinessesGross_c20210930__20210930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_zJ0B5zpsezOi" title="Payments to acquire businesses net of cash acquired">300,000</span> cash, a non-interest-bearing note payable of $<span id="xdx_900_eus-gaap--AccountsPayableInterestBearingCurrentAndNoncurrent_iI_c20210930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_zRUPDEFhnMYi" title="Non interest bearing notes payable">3,700,000</span> and <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210930__20210930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_ziyclu1ztXkj" title="Number of shares issued">245,000</span> shares of the Company’s $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20210930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_zvdznnee2oN7" title="Common stock price per share">0.0001</span> par value common stock (which constituted <span id="xdx_909_ecustom--BusinessAcquisitionOfOutstandingSharesPercentage_iI_dp_uPure_c20210930__dei--LegalEntityAxis__custom--TrioLLCMember_zLNROG8ozSra" title="Business acquisition percentage">45</span>% of the total number of issued shares of the Company at that time). The Company accounted for the purchase as an asset acquisition, as prescribed in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805 – <i>Business Combinations</i>. The assets and associated asset retirement obligations (“ARO”) were recorded based on relative fair value at the estimated fair value of the consideration paid. The Company holds an approximate <span id="xdx_90B_ecustom--PurchaseOfAdditionalOfRoyaltiesInterestPercentage_iI_dp_uPure_c20210930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_zSpUWmyyapu6" title="Royalties percentage">68.62</span>% interest after the application of royalties (“net revenue interest”) in the South Salinas Project, while Trio LLC holds an approximate <span id="xdx_907_ecustom--PurchaseOfAdditionalInterestPercentage_iI_dp_uPure_c20210930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_zAilsP9buPC4" title="Working interest percentage">3.8</span>% working interest in the South Salinas Project; the Company and Trio LLC are separate and distinct companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There are two contiguous areas of notable oil/gas accumulations in the South Salinas Project; the first is the Humpback Area that occurs in the northern part of the project and the second is the Presidents Area (“Presidents Oil Field”) that occurs in the southern part of the project. As October 31, 2024 and 2023, there were no proved reserves attributable to the approximate <span id="xdx_905_eus-gaap--AreaOfLand_iI_uAcre_c20241031__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_zICsl7ZKd158" title="Acres of property"><span id="xdx_905_eus-gaap--AreaOfLand_iI_uAcre_c20231031__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember__dei--LegalEntityAxis__custom--TrioLLCMember_z8uwczz4j9il" title="Acres of property">9,300</span></span> acres of the property. Since it was returned to production in March 2024, the HV-3A well at the South Salinas Project has been producing oil with a generally favorable oil-water ratio; the Company expects to take steps to improve oil production from this well in the third or fourth calendar quarter of 2024 and expects to receive the first revenue from oil produced from the well in the third calendar quarter of 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Initial Public Offering</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Registration Statement (Amendment No. 9) on Form S-1/A was filed with the SEC on March 24, 2023; its Initial Public Offering was declared effective on April 17, 2023 and closed on April 20, 2023 (collectively, the “Offering” or “IPO”). The Company sold <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230420__20230420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z2o31E7nuaK8" title="Number of shares sold">100,000</span> shares of its common stock for total gross proceeds of $<span id="xdx_90B_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20230420__20230420__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z34Jm8LV7Fbh" title="Gross proceeds from sale of shares">6,000,000</span>, which is described more fully in Note 4.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Additional Acquisitions - McCool Ranch Oil Field & Asphalt Ridge Leasehold</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2023, the Company entered into an agreement (“McCool Ranch Purchase Agreement”) with Trio LLC for purchase of a <span id="xdx_907_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20231031__us-gaap--BusinessAcquisitionAxis__custom--TrioLLCMember__us-gaap--TypeOfArrangementAxis__custom--McCoolRanchPurchaseAgreementMember_z8QepVIoycUl" title="Working interest">21.918315</span>% working interest in the McCool Ranch Oil Field located in Monterey County near the Company’s flagship South Salinas Project; the Company initially began refurbishment operations with respect to a water disposal well. After refurbishment was successfully accomplished, the Company restarted production operations on the assets (see Note 5 for further information). In <span id="xdx_90E_eus-gaap--BusinessAcquisitionDescriptionOfAcquiredEntity_c20231101__20231130__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--HeavySweetOilMember_zrDnxgQ1OMR7" title="Business acquisition description">November 2023, the Company entered into a leasehold acquisition and development option agreement (“ARLO Agreement”) with Heavy Sweet Oil, LLC (“HSO”), which gave the Company a 9-month option for the exclusive right to acquire up to a <span id="xdx_907_ecustom--PercentageOfProductionShare_pid_dp_uPure_c20231101__20231130__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--HeavySweetOilMember_zdACcDVsPHMj" title="Percentage of production share">20</span>% interest in a <span id="xdx_908_eus-gaap--AreaOfLand_iI_uAcre_c20231130__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--HeavySweetOilMember_zLp478DlNoe4" title="Area of land">960</span>-acre drilling and production program in the Asphalt Ridge leases for $<span id="xdx_90C_eus-gaap--PaymentsToAcquireLoansAndLeasesHeldForInvestment_c20231101__20231130__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--HeavySweetOilMember_zwJkCiesdgvd" title="Payments to acquire loans and lease">2,000,000</span>.</span> In December 2023, the Company amended the agreement and funded $<span id="xdx_909_eus-gaap--BusinessCombinationConsiderationTransferred1_c20231201__20231231__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember_zah2aBGvImq" title="Business combination agreement and funded amount">200,000</span> in exchange for an immediate <span id="xdx_901_ecustom--FinanceLeaseInterestPercentage_pid_dp_uPure_c20231201__20231231__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember_z1iX8nm0rQd" title="Finance lease interest percentage">2</span>% interest in the leases; subsequently, in January 2024, the Company funded an additional $<span id="xdx_906_eus-gaap--BusinessCombinationConsiderationTransferred1_c20240101__20240131__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember_zf3c2Thos9E4" title="Business combination agreement and funded amount">25,000</span> resulting in a total <span id="xdx_908_ecustom--FinanceLeaseInterestPercentage_pid_dp_uPure_c20240101__20240131__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember_zt7orULK5OPf" title="Finance lease interest percentage">2.25</span>% working interest in the leases. Such funds are to be used for the building of roads and related infrastructure in furtherance of the development of the leases; per the most recent amendment to the ARLO Agreement signed in September 2024, the Company has until December 10, 2024 to pay HSO an additional approximate $<span id="xdx_908_eus-gaap--PaymentsToAcquireLoansAndLeasesHeldForInvestment_pn3n6_c20240101__20240131__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--HeavySweetOilMember_zzPm5ZmS503a" title="Payments to acquire loans and lease">1.775</span> million to exercise the option for the remaining <span id="xdx_90B_ecustom--PercentageOfProductionShare_pid_dp_uPure_c20240101__20240131__us-gaap--TypeOfArrangementAxis__custom--ARLOAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--HeavySweetOilMember_zcCUtAI8rXvc" title="Percentage of production share">17.75</span>% interest in the leases (see Note 6 for further information).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Emerging Growth Company</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is an “emerging growth company,” as defined in Section 2(a)(19) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_847_eus-gaap--UseOfEstimates_zP5KuOTtg4X1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86E_zy49lMZQyEw4">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity-based transaction and disclosure of contingent assets and liabilities at the date of the financial statements, and the revenue and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Some of the more significant estimates required to be made by management include estimates of oil and natural gas reserves (when and if assigned) and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, ARO and the valuation of equity-based transactions. Accordingly, actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2024Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
279274 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
133417 | usd |
CY2024Q4 | us-gaap |
Deferred Finance Costs Gross
DeferredFinanceCostsGross
|
259903 | usd |
CY2023Q4 | us-gaap |
Deferred Finance Costs Gross
DeferredFinanceCostsGross
|
350320 | usd |
CY2024Q4 | us-gaap |
Other Indefinite Lived Intangible Assets
OtherIndefiniteLivedIntangibleAssets
|
0 | usd |
CY2023Q4 | us-gaap |
Other Indefinite Lived Intangible Assets
OtherIndefiniteLivedIntangibleAssets
|
0 | usd |
CY2022Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
48313 | usd |
CY2023 | us-gaap |
Accretion Expense
AccretionExpense
|
2778 | usd |
CY2023Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
51091 | usd |
CY2024 | us-gaap |
Accretion Expense
AccretionExpense
|
2778 | usd |
CY2024Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
53869 | usd |
CY2024Q4 | us-gaap |
Asset Retirement Obligation Current
AssetRetirementObligationCurrent
|
2778 | usd |
CY2024Q4 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
51091 | usd |
CY2024 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
19176 | shares |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
19812 | shares |
CY2024 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
191994 | shares |
CY2023 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
88336 | shares |
CY2024 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p id="xdx_84C_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zLA4y9BaBhz6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_869_zoSXqZ5glfPk">Reclassification of Expenses</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain amounts in the prior periods presented have been reclassified to the current period financial statement presentation. This reclassification has no effect on previously reported net income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024Q4 | us-gaap |
Cash
Cash
|
285945 | usd |
CY2024Q4 | TPET |
Working Capital
WorkingCapital
|
2025480 | usd |
CY2024Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-20073679 | usd |
CY2023Q2 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
4940000 | usd |
CY2024 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
213204 | usd |
CY2024Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
0 | usd |
CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
0 | usd |
CY2024Q4 | us-gaap |
Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
|
11119119 | usd |
CY2023Q4 | us-gaap |
Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
|
9947742 | usd |
CY2024Q4 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
11119119 | usd |
CY2023Q4 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
9947742 | usd |
CY2024 | us-gaap |
Exploration Costs
ExplorationCosts
|
177416 | usd |
CY2023 | us-gaap |
Exploration Costs
ExplorationCosts
|
251743 | usd |
CY2024 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
1200000 | usd |
CY2023 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
4100000 | usd |
CY2023Q4 | us-gaap |
Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
|
200000 | usd |
CY2023Q4 | us-gaap |
Long Term Purchase Commitment Description
LongTermPurchaseCommitmentDescription
|
the effective date for exclusive rights to the option to purchase 80% of the 100% Before Project Payout Working Interest | |
CY2024Q1 | us-gaap |
Payments For Purchase Of Other Assets1
PaymentsForPurchaseOfOtherAssets1
|
25000 | usd |
CY2024 | TPET |
Working Interest Percentage
WorkingInterestPercentage
|
0.85775 | pure |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1699000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1095000 | usd |
CY2024Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
1699000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
1095000 | usd |
CY2024Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1699000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1095000 | usd |
CY2024Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1699000 | usd |
CY2023Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1095000 | usd |
CY2024 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
604000 | usd |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
298000 | usd |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.21 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.21 | pure |
CY2023Q4 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
1217597 | usd |
CY2024Q4 | TPET |
Promissory Notes Net Of Discounts Current
PromissoryNotesNetOfDiscountsCurrent
|
742852 | usd |
CY2024Q4 | TPET |
Notes Payable Related Parties
NotesPayableRelatedParties
|
135000 | usd |
CY2024Q4 | us-gaap |
Notes Payable
NotesPayable
|
877852 | usd |
CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
1217597 | usd |
CY2023Q4 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
6.80 | |
CY2023Q4 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
6.20 | |
CY2024Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
5.80 | |
CY2024Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
4.80 | |
CY2024Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
2.60 | |
CY2024Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
2.00 | |
CY2024Q2 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
3.40 | |
CY2024Q1 | TPET |
Description Of Amendment To First Tranche Note
DescriptionOfAmendmentToFirstTrancheNote
|
i) a reduction of the floor price of the conversion price from $7.00 to $3.00, ii) the issuance of additional 119,796 shares of common stock (as noted above) to the investor in lieu of the Company’s obligation to pay cash installments under the First Tranche Note, and iii) a new obligation of the Company to request acceleration of monthly payments in installments of $250,000 as soon as possible to repay the remaining $1,000,000 principal balance of the First Tranche Note, with the investor converting and selling shares subject to a) the beneficial ownership limitation of 4.99% and b) market prices of the Company’s common stock being at or above the floor price of $3.00. | |
CY2024Q1 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
125000 | usd |
CY2024Q2 | us-gaap |
Debt Conversion Converted Instrument Rate
DebtConversionConvertedInstrumentRate
|
1 | pure |
CY2024Q4 | TPET |
Aggregate Authorized Shares
AggregateAuthorizedShares
|
25000000 | shares |
CY2024Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
24500000 | shares |
CY2024Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | shares |
CY2024Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q2 | TPET |
Resale Amendment Agreement Description
ResaleAmendmentAgreementDescription
|
the Company issued a Form S-1/A, which registered for resale (i) up to 157,466 shares of common stock, par value $0.0001 per share which the selling stockholders may acquire upon the exercise of outstanding common warrants and (ii) up to 25,000 shares of common stock, which the selling stockholders may acquire upon the exercise of outstanding pre-funded warrants. Such warrants were issued to the selling stockholders in connection with securities purchase agreements entered into on January 28, 2022 and September 20, 2022. The Company recorded 34,993 shares of common stock that are not exercised but registered in accordance with their common warrant agreements and 25,000 shares of common stock that are not exercised but registered in accordance with their pre-funded warrant agreements upon the filing of this Form S-1/A | |
CY2023Q4 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
|
50000 | shares |
CY2023Q4 | us-gaap |
Share Price
SharePrice
|
5.40 | |
CY2023Q4 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
271000 | usd |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rights
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights
|
The restricted stock grant vests over a period of two years, with 25% of the shares of restricted stock vesting six months after the Peterson Employment Agreement Effective Date, and the remainder vesting in equal tranches on each of the 12-, 18-, and 24-month anniversary dates of the Peterson Employment Agreement | |
CY2024 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
267659 | usd |
CY2023 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
3341 | usd |
CY2024Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
4.80 | |
CY2024Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
2.60 | |
CY2024Q1 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
2.00 | |
CY2024Q2 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
3.40 | |
CY2024Q3 | TPET |
Payments For Cash
PaymentsForCash
|
100000 | usd |
CY2024Q3 | us-gaap |
Share Price
SharePrice
|
3.60 | |
CY2024Q3 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
30520 | shares |
CY2024Q4 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
17167 | shares |
CY2024Q4 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
38150 | shares |
CY2024Q3 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
3.38 | |
CY2024Q4 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
3.66 | |
CY2024Q4 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
2.58 | |
CY2024Q3 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
103091 | usd |
CY2024Q4 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
62830 | usd |
CY2024Q4 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
98422 | usd |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
238803 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
20.77 | |
CY2023 | TPET |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm
|
P3Y1M6D | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
145065 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
20.51 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
|
5402 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
88336 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
22.35 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P3Y10M24D | |
CY2023Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
211200 | usd |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
103658 | shares |
CY2024 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
9.18 | |
CY2024 | TPET |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm
|
P4Y6M | |
CY2024Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
191994 | shares |
CY2024Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
15.24 | |
CY2024 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P3Y9M18D | |
CY2024Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
47160 | usd |
CY2024Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
191994 | shares |
CY2024Q4 | TPET |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercisable Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisableExercisePrice
|
15.24 | |
CY2024 | TPET |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Exercisable Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingExercisableContractualTerm1
|
P3Y9M18D | |
CY2024Q4 | TPET |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value Exercisable
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValueExercisable
|
47160 | usd |
CY2023 | TPET |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Issued Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIssuedIntrinsicValue
|
1800 | usd |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0436 | pure |
CY2024 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.371 | pure |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2023 | us-gaap |
Interest Paid
InterestPaid
|
usd | |
CY2024 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | |
CY2023 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | |
CY2024 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2024 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2024 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2024 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2024 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | |
CY2024 | us-gaap |
Accretion Expense
AccretionExpense
|
2778 | usd |
CY2024 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001898766 |