Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 158

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 158
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 an amount equal to the lease payments in a similar economic environment. However, the Company currently maintains no debt, and in order to apply an appropriate discount rate, the Company used a borrowing rate obtained from a financial institution at which it maintains banking accounts.

The Company had a lease for its corporate offices in Houston, Texas on approximately 5,200 square feet of office space that expired on and had a base monthly rent of approximately $. In December 2022, the Company entered into a new lease agreement for its existing office space that commenced on September 1, 2023, which expires on . The base monthly rent is approximately $ for the first 18 months and increases to approximately $ thereafter. The Company paid both a security deposit and prepaid rent for $, respectively.

| 108 |

Supplemental cash flow information related to the Company’s operating lease is included in the table below (in thousands):

|                                                                        |     | Year Ended        
 December 31, 2024 |     |
|:-----------------------------------------------------------------------|:----|:------------------|----:|
| Cash paid for amounts included in the measurement of lease liabilities |     | $                 | 110 |

Supplemental balance sheet information related to operating leases is included in the table below (in thousands):

|                                         |     | December 31, 2024 |     |
|:----------------------------------------|:----|:------------------|----:|
| Operating lease – right-of-use asset    |     | $                 | 224 |
| Operating lease liabilities – current   |     | $                 |  99 |
| Operating lease liabilities – long-term |     |                   | 129 |
| Total lease liability                   |     | $                 | 228 |

The weighted-average remaining lease term for the Company’s operating lease is years as of December 31, 2024, with a weighted-average discount rate of %.

Lease liability with enforceable contract terms that have greater than one-year terms are as follows (in thousands):

| 2025                  |     | $ | 112 |   |
| 2026                  |     |   | 115 |   |
| 2027                  |     |   |  20 |   |
| Thereafter            |     |   |   - |   |
| Total lease payments  |     |   | 247 |   |
| Less imputed interest |     |   | (19 | ) |
| Total lease liability |     | $ | 228 |   |

Leasehold