Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 2038

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 2038
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,251)  9,902 

  (Accumulated Deficit) CORRECTED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY As previously reported  Impact of Adjustment  As Restated Balances at December 31, 2022 $(126,741) $1,251  $(125,490)Net income  264   1,435   1,699 Balances at December 31, 2023  (126,477)  2,686   (123,791)

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NOTE 5 – CASH The following table provides a reconciliation of cash and restricted cash reported within the balance sheets on December 31, 2024 and 2023, which sum to the total of such amounts shown in the accompanying consolidated statements of cash flows (in thousands):    2024  2023 Cash $4,010  $18,515 Restricted cash included in other assets*  2,597   2,200 Total cash and restricted cash $6,607  $20,715  * Increase in restricted cash is primarily related to additional collateral for surety bonds for the Company’s New Mexico operations, due to an updated assessment from the New Mexico Bureau of Land Management.

NOTE 6 – REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue from Contracts with Customers. The following table disaggregates revenue by significant product type for the years ended December 31, 2024 and 2023 (in thousands):   2024  2023 Oil sales $36,193  $27,925 Natural gas sales  1,216   1,438 Natural gas liquids sales  2,144   1,421 Total revenue from customers $39,553  $30,784  There were no significant contract liabilities or transaction price allocations to any remaining performance obligations as of December 31, 2024 or 2023, respectively. 

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NOTE 7 – OIL AND GAS PROPERTIES The following tables summarize the Company’s oil and gas activities by classification for the years ended December 31, 2024 and 2023, respectively (in thousands):    Balance at December 31,           Balance at December 31,