XML 36 R23.htm IDEA: XBRL DOCUMENT v3.24.0.1

STOCKHOLDERS’ EQUITY (Tables)

12 Months Ended

Oct. 31, 2023

Equity [Abstract]

SCHEDULE OF WARRANT ACTIVITY

A summary of the warrant activity during the years ended October 31, 2023 and 2022 is presented below:

  SCHEDULE OF WARRANT ACTIVITY

		Number of Warrants				Weighted Average Exercise Price				Weighted Average Remaining Life in Years				Intrinsic Value
Outstanding, November 1, 2021			-			$	-				-			$	-
Issued			-				-				-				-
Outstanding, November 1, 2022			-				-				-				-
Issued			4,776,046				1.04				3.1				-
Exercised			(2,901,298	)			1.03				-				-
Cancelled			-				-				-				-
Expired			(108,047	)			-				-				-
Outstanding, October 31, 2023			1,766,702			$	1.12				3.9			$	211,200
Exercisable, October 31, 2023			1,766,702			$	1.12				3.9			$	211,200

SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS

A summary of outstanding and exercisable warrants as of October 31, 2023 is presented below:

SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS 

	Warrants Outstanding								Warrants Exercisable
									Weighted
									Average
	Exercise				Number of				Remaining				Number of
	Price				Shares				Life in Years				Shares
$	0.01				400,000				4.5				400,000
$	1.50				400,000				1.1				400,000
$	3.30				100,000				4.5				100,000
$	1.20				866,702				4.9				866,702
					1,766,702				3.9				1,766,702

SCHEDULE OF STOCK OPTION ACTIVITY

A summary of the option activity during the years ended October 31, 2023 and 2022 is presented below:

 SCHEDULE OF STOCK OPTION ACTIVITY

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Life in Years				Intrinsic Value
Outstanding, November 1, 2021			-			$	-				-			$	-
Issued			-				-				-				-
Outstanding, November 1, 2022			-				-				-				-
Issued			120,000				0.52				4.8				1,800
Exercised			-				-				-				-
Cancelled			-				-				-				-
Expired			-				-				-				-
Outstanding, October 31, 2023			120,000			$	0.52				4.8			$	1,800
Exercisable, October 31, 2023			90,000			$	0.52				4.8			$	1,350

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS

A summary of outstanding and exercisable options as of October 31, 2023 and 2022 is presented below:

SCHEDULE OF OUTSTANDING AND EXERCISABLE OPTIONS 

	Options Outstanding								Options Exercisable
									Weighted
									Average
	Exercise				Number of				Remaining				Number of
	Price				Shares				Life in Years				Shares
$	0.52				120,000				4.8				90,000
					120,000				4.8				90,000

SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES VALUATION METHOD FOR OPTIONS

The assumptions used in the Black-Scholes valuation method for these options issued in 2023 were as follows:

 SCHEDULE OF ASSUMPTIONS USED IN BLACK-SCHOLES VALUATION METHOD FOR OPTIONS

Risk free interest rate		4.36%
Expected term (years)		5.0
Expected volatility		137.1%
Expected dividends		0%

X

- Definition

Schedule Of Stockholders Equity Note Outstanding And Exercisable Warrants Or Rights [Text Block]

+ References

No definition available.

+ Details

Name:	TPET_ScheduleOfStockholdersEquityNoteOutstandingAndExercisableWarrantsOrRightsTextBlock
Namespace Prefix:	TPET_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration