Company: PED
Filing Date: 2025-10-29
Form Type: 10-K/A
Source: 0001654954-25-012328
Chunk: 3

Company: PEDEVCO CORP
Filing Date: 2025-10-29
Form: 10-K/A
Chunk 3
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31, 2024, originally filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2025, and amended by Amendment No. 1 thereto, filed with the SEC on May 12, 2025 (as amended through Amendment No. 1 thereof, the “Original Form 10-K”).

As previously disclosed in the Current Report on Form 8-K filed with the SEC on October 29, 2025, on October 27, 2025, the Audit Committee (the “Audit Committee”) of the Board of Directors (the “Board”) of the Company, after discussion with the Company’s former independent registered public accounting firm, Marcum LLP (“Marcum”), concluded that the Company’s previously issued audited financial statements as of and for the fiscal year ended December 31, 2024 (the “Affected Period”), originally included in the Original Form 10-K (the “Prior Financial Statements”), should no longer be relied upon and should be restated due to an error in the accounting for the prior period net operating losses in the calculation of the tax provision for the impacted period (the “Error”). This Error resulted in an overstatement of the Company’s tax benefit and deferred income tax account during the impacted period.

This Amendment No. 2 includes restated audited financial statements for the Affected Period which address and correct the Error.

Refer to Note 4, Restatement of Previously Issued Consolidated Financial Statements, in the accompanying Consolidated Financial Statements included in Part II, Item 8 for additional information regarding the Error and the restatement.

The Original Form 10-K was filed as a comprehensive Annual Report on Form 10-K for the fiscal years ended December 31, 2024 and 2023 (“Comprehensive Form 10-K”), which contained our audited financial statements for the fiscal year ended December 31, 2024, as well as restatements of the following previously filed periods: (i) audited consolidated financial statements as of and for the fiscal year ended December 31, 2023, originally included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “2023 10-K”), and (ii) audited consolidated financial statements as of and for the fiscal year ended December 31, 2022, originally included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “2022