| Segmented Information |
| 20. |
Segmented Information |
During
the years ended December 31, 2025, and 2024, the Company’s operations were in the resource industry in Turkey with head offices
in Canada and a satellite office in Sofia, Bulgaria.
Schedule of Geographical Segment Information
| | |
Canada | | |
Turkey | | |
Bulgaria | | |
Total | |
| Year ended December 31, 2025 | |
| | | |
| | | |
| | | |
| | |
| Revenue | |
$ | - | | |
$ | 2,880,658 | | |
$ | - | | |
$ | 2,880,658 | |
| Finance cost | |
| (2,472,725 | ) | |
| (624,086 | ) | |
| - | | |
| (3,096,811 | ) |
| Depletion | |
| - | | |
| (139,550 | ) | |
| - | | |
| (139,550 | ) |
| Depreciation | |
| (8,206 | ) | |
| (56,583 | ) | |
| - | | |
| (64,789 | ) |
| Accretion of asset retirement obligation | |
| - | | |
| (269,386 | ) | |
| - | | |
| (269,386 | ) |
| Stock-based compensation | |
| (18,543 | ) | |
| - | | |
| - | | |
| (18,543 | ) |
| Gain on debt settlement | |
| 577,725 | | |
| - | | |
| - | | |
| 577,725 | |
| Loss on write-off of notes and other receivables | |
| (101,303 | ) | |
| - | | |
| - | | |
| (101,303 | ) |
| Loss on sale and revaluation of AHFS | |
| - | | |
| (328,631 | ) | |
| - | | |
| (328,631 | ) |
| Loss on impairment of assets held for sale | |
| | | |
| | | |
| | | |
| | |
| Impairment of O&G assets | |
| - | | |
| (54,498,394 | ) | |
| - | | |
| (54,498,394 | ) |
| Gain on net monetary position | |
| - | | |
| 12,791,869 | | |
| - | | |
| 12,791,869 | |
| Net loss | |
| (3,627,177 | ) | |
| (45,592,713 | ) | |
| (1,011 | ) | |
| (49,220,901 | ) |
| As at December 31, 2025 | |
| | | |
| | | |
| | | |
| | |
| Current assets | |
$ | 445,210 | | |
$ | 764,000 | | |
$ | 5,765 | | |
$ | 1,214,975 | |
| Non-current assets | |
| 17,125 | | |
| 1,870,843 | | |
| - | | |
| 1,887,968 | |
| Current liabilities | |
$ | (16,997,003 | ) | |
$ | (18,445,015 | ) | |
$ | (146,338 | ) | |
$ | (35,588,356 | ) |
TRILLION
ENERGY INTERNATIONAL INC.
Notes to the Consolidated Financial Statements
For the years ended December 31, 2025 and 2024
(Expressed
in U.S. dollars)
| 20. |
Segmented
Information (continued) |
| | |
Canada | | |
Turkey | | |
Bulgaria | | |
Total | |
| Year ended December 31, 2024 | |
| | | |
| | | |
| | | |
| | |
| Revenue | |
$ | - | | |
$ | 7,000,836 | | |
$ | - | | |
$ | 7,000,836 | |
| Finance cost | |
| (2,536,892 | ) | |
| (23,756 | ) | |
| - | | |
| (2,560,648 | ) |
| Depletion | |
| - | | |
| (1,300,417 | ) | |
| - | | |
| (1,300,417 | ) |
| Depreciation | |
| (8,394 | ) | |
| (79,014 | ) | |
| - | | |
| (87,408 | ) |
| Accretion of asset retirement obligation | |
| - | | |
| (269,114 | ) | |
| - | | |
| (269,114 | ) |
| Stock-based compensation | |
| (1,058,222 | ) | |
| - | | |
| - | | |
| (1,058,222 | ) |
| Impairment of O&G assets | |
| - | | |
| (9,892,000 | ) | |
| - | | |
| (9,892,000 | ) |
| Loss on debt extinguishment | |
| (264,050 | ) | |
| - | | |
| - | | |
| (264,050 | ) |
| Loss on sale and revaluation of AHFS | |
| - | | |
| (132,737 | ) | |
| - | | |
| (132,737 | ) |
| Gain on net monetary position | |
| - | | |
| 18,431,488 | | |
| - | | |
| 18,431,488 | |
| Net loss | |
| (7,480,808 | ) | |
| (1,647,834 | ) | |
| - | | |
| (9,128,642 | ) |
| As at December 31, 2024 | |
| | | |
| | | |
| | | |
| | |
| Non-current assets | |
$ | 24,277 | | |
$ | 52,226,749 | | |
$ | - | | |
$ | 52,251,026 | |
| | |
Canada | | |
Turkey | | |
Bulgaria | | |
Total | |
| Year ended December 31, 2023 | |
| | | |
| | | |
| | | |
| | |
| Year ended December 31 | |
| | | |
| | | |
| | | |
| | |
| Revenue | |
$ | - | | |
$ | 16,797,366 | | |
$ | - | | |
$ | 16,797,366 | |
| Finance cost | |
| (2,202,324 | ) | |
| (46,731 | ) | |
| - | | |
| (2,249,055 | ) |
| Depletion | |
| - | | |
| (5,119,174 | ) | |
| - | | |
| (5,119,174 | ) |
| Depreciation | |
| (8,497 | ) | |
| (167,267 | ) | |
| - | | |
| (175,764 | ) |
| Accretion of asset retirement obligation | |
| - | | |
| (219,536 | ) | |
| - | | |
| (219,536 | ) |
| Stock-based compensation | |
| (2,397,261 | ) | |
| - | | |
| - | | |
| (2,397,261 | ) |
| Loss on debt extinguishment | |
| (8,500 | ) | |
| - | | |
| - | | |
| (8,500 | ) |
| Loss on impairment of assets held for sale | |
| - | | |
| (1,556,787 | ) | |
| - | | |
| (1,556,787 | ) |
| Gain on net monetary position | |
| - | | |
| 18,984,099 | | |
| - | | |
| 18,984,099 | |
| Net income (loss) | |
| (7,900,218 | ) | |
| 7,861,094 | | |
| (4,718 | ) | |
| (43,842 | ) |
| As at December 31, 2023 | |
| | | |
| | | |
| | | |
| | |
| As at December 31 | |
| | | |
| | | |
| | | |
| | |
| Non-current assets | |
$ | 35,021 | | |
$ | 53,710,753 | | |
$ | - | | |
$ | 53,745,774 | |
The
Company’s breakdown of net revenue by product segment is as follows:
Schedule
of Net Revenue By Product Segment
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| | |
For the year ended | |
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| Oil | |
$ | 2,553,065 | | |
$ | 3,323,925 | | |
$ | 3,055,800 | |
| Gas | |
| 327,593 | | |
| 3,676,911 | | |
| 13,741,566 | |
| Oil and gas revenue,
net | |
$ | 2,880,658 | | |
$ | 7,000,836 | | |
$ | 16,797,366 | |
The Company has major customer concentration risk as all oil is sold to
one customer and all gas is sold to a second customer.
The
Company incurs royalties of 12.5%. During the year ended December 31, 2025, the Company incurred royalties totaling $303,314 (2024 -
$773,021 and 2023 - $2,242,613) which is included in general and administrative expenses on the statements of loss and comprehensive
loss.
TRILLION
ENERGY INTERNATIONAL INC.
Notes to the Consolidated Financial Statements
For the years ended December 31, 2025 and 2024
(Expressed
in U.S. dollars)
|