Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 144

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 144
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,859 |   |     |                     |        - |   |     |               |   1,859 |
| Net income                          |     |              |          - |   |     |        |  - |     |                            |       - |   |     |                     |   12,293 |   |     |               |  12,293 |
| Balances at December 31, 2024       |     |              | 89,495,267 |   |     | $      | 89 |     | $                          | 227,013 |   |     | $                   | (111,498 | ) |     | $             | 115,604 |

<div align='center'>See accompanying notes to consolidated financial statements.</div>

| 93 |

<div align='center'>PEDEVCO CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

NOTE 1 – BASIS OF PRESENTATION

The accompanying consolidated financial statements of PEDEVCO Corp. (“PEDEVCO” or the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules of the Securities and Exchange Commission (“SEC”).

The Company’s consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and subsidiaries in which the Company has a controlling financial interest. All significant inter-company accounts and transactions have been eliminated in consolidation.

NOTE 2 – DESCRIPTION OF BUSINESS

PEDEVCO is an oil and gas company focused on the development, acquisition and production of oil and natural gas assets where the latest in modern drilling and completion techniques and technologies have yet to be applied. In particular, the Company focuses on legacy proven properties where there is a long production history, well defined geology and existing infrastructure that can be leveraged when applying modern field management technologies. The Company’s current properties are located in the San Andres formation of the Permian Basin situated in West Texas and eastern New Mexico (the “Permian Basin”) and in the Denver-Julesberg Basin (“D-J Basin”) in Colorado and Wyoming. The Company holds its Permian Basin acres located in Chaves and Roosevelt Counties, New Mexico, through its wholly-owned operating subsidiary, Pacific Energy Development Corp. (“PEDCO”), which asset the Company refers to as its “Permian Basin Asset,” and it holds its D-J Basin acres located in Weld and Morgan Counties, Colorado, and Laramie County, Wyoming, through its wholly-owned subsidiary, PRH