Home / Going-concern warnings / Trio Petroleum Corp
Filed 2026-03-17 路 Form 10-Q 路 Accession 0001493152-26-010535 nano
Price before filing: $10.44 (2026-03-16 close, split/dividend-adjusted)
Market cap at flag: $29.5M (2026-03-17) 路 Latest: $7.9M (2026-10-16)
| Window | TPET | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -56.1% | +5.2% | -61.3% | 2026-04-16 |
| 90 days | -75.3% | +13.1% | -88.4% | 2026-06-15 |
| 180 days | -81.4% | +14.3% | -95.8% | 2026-09-14 |
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 $13K (7 sales, 6 without a usable price)
30 days after: 2 insiders sold 50,000 shares (2 sales)
| 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 |
| 2026-02-02 | 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 |
| 2026-03-11 | Ross Robin A. Chief Executive Officer, Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-03-12 | PERNICE THOMAS J Director | Sale | 25,000 | n/a | n/a | yes | Form 4 |
| 2026-03-17: red flag filed | |||||||
| 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 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-17 to 2026-04-16. 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.
"Based solely on our financial position as of January 31, 2026, these factors raised substantial doubt about our ability to continue as a going concern for the twelve months following the issuance of these condensed consolidated financial statements."
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 2026-01-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
🔔 Get email alerts for this company
Not investment advice. Automated summary; verify against the filing.
The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.
Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.
Form not showing? Subscribe on beehiiv →
Newsletter delivered by beehiiv. See our privacy policy.