Company: PED
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009652
Chunk: 16

Company: PEDEVCO CORP
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
 the inclusion of the potential common shares, as defined above, would have an anti-dilutive effect. 

 14Table of Contents

The calculation of earnings (loss) per share for the periods indicated below were as follows (amounts in thousands, except share and per share data):   Three Months Ended June 30,  Six Months Ended June 30,   2025  2024  2025  2024 Numerator:            Net (loss) income $(1,676) $2,681  $(1,536) $3,454                  Denominator:                Weighted average common shares – basic  91,403,552   89,326,805   91,137,310   89,040,322                  Dilutive effect of common stock equivalents:                Options   -   -   -   -                  Denominator:                Weighted average common shares – diluted  91,403,552   89,326,805   91,137,310   89,040,322                  Earnings per share – basic $(0.02) $0.03  $(0.02) $0.04 Earnings per share – diluted $(0.02) $0.03  $(0.02) $0.04  For the three and six months ended June 30, 2025 and 2024, share equivalents related to options to purchase 2,294,000, compared to 1,835,667, and 2,294,000 compared to 1,835,667, shares of common stock, respectively, were excluded from the computation of diluted net income per share as the inclusion of such shares would be anti-dilutive.

NOTE 13 – INCOME TAXES The Company’s effective tax rate was approximately 21.3% and 0.0% for the six months ended June 30, 2025 and 2024, respectively. The effective tax rate was primarily due to recognized tax benefits in the current period compared to the impact of the full valuation allowance recorded in the prior period. As a result, the Company recognized an income tax benefit of $414,000 for the period ended June 30, 2025. On July 4,