Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 140

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 140
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 Report of Independent Registered Public Accounting Firm (PCAOB ID Number 688)                            |     | 88 |
| Consolidated Balance Sheets as of December 31, 2024 and 2023                                             |     | 90 |
| Consolidated Statements of Operations for the Years Ended December 31, 2024 and 2023                     |     | 91 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2024 and 2023                     |     | 92 |
| Consolidated Statement of Changes in Shareholders’ Equity For the Years Ended December 31, 2024 and 2023 |     | 93 |
| Notes to Consolidated Financial Statements                                                               |     | 94 |

| 87 |

<div align='center'>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

To the Shareholders and Board of Directors of

PEDEVCO Corp.

Opinion on the Financial Statements

We have audited the accompanying consolidatedbalance sheets of PEDEVCO Corp. (the “Company”) as of December 31, 2024 and 2023, the related consolidated statements of income (operations), changes in shareholders’ equity and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America

Restatement of 2024, 2023 and 2022 Financial Statements

As discussed in Note 4 to the consolidated financial statements, the consolidated financial statements as of December 31, 2024, 2023 and 2022 and for the years ended December 31 2024, 2023 and 2022 have been restated to correct misstatements.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S