Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 1233

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 1233
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   - Other (expense) income  (42)  40 Total other income   321   462 Income before income taxes  5,038   1,699 Income tax benefit  12,751   -          Net Income  $17,789  $1,699          Earnings per common share:        Basic $0.20  $0.02 Diluted $0.20  $0.02          Weighted average number of common shares outstanding:        Basic  89,234,611   87,031,692 Diluted  89,236,237   87,031,692 

See accompanying notes to consolidated financial statements.

 88Table of Contents

PEDEVCO CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(amounts in thousands) 

  December 31,   2024  2023     As Restated Cash Flows From Operating Activities:      Net income $17,789  $1,699 Adjustments to reconcile net income to net cash provided by operating activities:        Depreciation, depletion and amortization  15,920   9,440 Share-based compensation expense  1,859   2,043 Loss on sale of oil and gas properties, net  76   4,268 Gain on disposal of fixed asset  (12)  - Uncollected account expense  50   - Amortization of right-of-use asset  110   100 Deferred income tax benefit  (12,751)  - Changes in operating assets and liabilities:        Accounts receivable – oil and gas  (2,115)  (3,360)Note receivable  (85)  (19)Prepaid expenses and other current assets  (657)  (11)Accounts payable  541   (11)Accrued expenses  (5,854)  6,979 Revenue payable  (2,105)  2,353 Net cash provided by operating activities  12,766   23,481          Cash Flows From Investing Activities:        Cash paid for drilling and completion costs  (27,857)