Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 1912

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1912
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452 Total liabilities and shareholders’ equity $133,845  $122,744 

See accompanying notes to consolidated financial statements. 

 87Table of Contents

PEDEVCO CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

(amounts in thousands, except share and per share data)

  December 31,   2024  2023 Revenue:   As Restated Oil and gas sales $39,553  $30,784          Operating expenses:        Lease operating costs  12,449   9,831 Selling, general and administrative expense  6,391   6,008 Depreciation, depletion, amortization and accretion  15,920   9,440 Total operating expenses  34,760   25,279          Loss on sale of oil and gas properties, net  (76)  (4,268)Operating income  4,717   1,237          Other income (Expense):        Interest income  351   422 Gain on sale of fixed asset  12   - 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