Company: PED
Filing Date: 2025-10-29
Form Type: 10-K/A
Source: 0001654954-25-012328
Chunk: 5

Company: PEDEVCO CORP
Filing Date: 2025-10-29
Form: 10-K/A
Chunk 5
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 completion, and any other related activities of material importance as of December 31, 2024; (d) updated information under “Part I – Item 1. Business – Oil and Natural Gas Reserves”, to include a discussion of the technologies used to establish the appropriate level of certainty for the estimates of reserves; (e) a new table and narrative discussion under “Proved Reserves Summary” in the notes to Audited Financial Statements included in “Part II – Item 8 – Financial Statements and Supplementary Data” to include a discussion of the changes in total proved reserves to more clearly align explanations and associated quantities to the corresponding line items in the reserves reconciliation and an expansion of the tabular presentation of proved developed and proved undeveloped reserves by individual product type to also include the net quantities at the beginning of the initial year shown in the reconciliation; and (f) to modify our reconciliations showing the changes in proved undeveloped reserves for 2023 and 2024 to separately present and quantify the types of changes under “Proved Reserves Summary” in the notes to Audited Financial Statements included in “Part II – Item 8 – Financial Statements and Supplementary Data”.

Internal Control Considerations

In connection with the restatement of the financial statements for the Affected Period, the Company concluded its disclosure controls and procedures as of December 31, 2024 remained ineffective due to the unremeditated material weaknesses previously disclosed in Part II, Item 9A “Controls and Procedures” of the Original Form 10-K, as well as the identification of an additional material weakness in internal control over financial reporting related to the errors described above. Please refer to Part II, Item 9A of this Amendment No. 2.

Items Amended in this Filing

This Amendment No. 2 amends and restates the following items of the Original Form 10-K:

| · | Part I, Item 1, “Business,”                                                                               |
| · | Part I, Item 1A, “Risk Factors,”                                                                          |
| · | Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” |
| · | Part II, Item 8, “Financial Statements and Supplementary Data,”                                           |
| · | Part II, Item 9A, “Controls and Procedures,” and                                                          |
| · | Part IV, Item 15. Exhibits and Financial Statement Schedules.                                             |

This Amendment No. 2 is presented as of the filing date of