Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 91

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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 of the potential common shares, as defined above, would have an anti-dilutive effect.  The calculation of earnings (loss) per share for the periods indicated below were as follows (amounts in thousands, except share and per share data):   Three Months EndedSeptember 30,  Nine Months EndedSeptember 30,   2025  2024  2025  2024 Numerator:            Net (loss) income $(325) $2,915  $(1,861) $6,369                  Denominator:                Weighted average common shares – basic  92,161,635   89,428,310   91,482,504   89,147,092                  Dilutive effect of common stock equivalents:                Options   -   -   -   -                  Denominator:                Weighted average common shares – diluted  92,161,635   89,428,310   91,482,504   89,147,092                  Earnings per share – basic $(0.00) $0.03  $(0.02) $0.07 Earnings per share – diluted $(0.00) $0.03  $(0.02) $0.07  For the three and nine months ended September 30, 2025 and 2024, share equivalents related to options to purchase 2,294,000, compared to 1,835,667, and 2,294,000 compared to 1,835,667, shares of common stock, respectively, were excluded from the computation of diluted net income per share as the inclusion of such shares would be anti-dilutive.

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NOTE 13 – INCOME TAXES  The Company’s effective tax rate was approximately 23.7% and 0.0% for the nine months ended September 30, 2025 and 2024, respectively. The effective tax rate was primarily due to recognized tax benefits in the current period compared to the impact of the full valuation allowance recorded in the prior period. As a result, the Company recognized an income tax benefit of $578,000 for the period ended September 30, 2025.  On July 4, 202