Company: PED
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001654954-25-005762
Chunk: 34

Company: PEDEVCO CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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862)  (106,002)Total shareholders’ equity  121,715   121,100 Total liabilities and shareholders’ equity $145,575  $133,845 

See accompanying notes to unaudited consolidated financial statements.

 4Table of Contents

PEDEVCO CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

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

  Three Months Ended March 31,    2025  2024 Revenue:      Oil and gas sales $8,736  $8,116          Operating expenses:        Lease operating costs  3,412   2,531 Selling, general and administrative expense  1,596   1,495 Depreciation, depletion, amortization and accretion  3,346   3,485 Impairment of oil and gas properties  232   - Total operating expenses  8,586   7,511          Gain on sale of fixed asset  -   12          Operating income  150   617          Other income:        Interest income  64   149 Other income  2   7 Total other income   66   156 Income before income taxes  216   773 Income tax expense  76   -          Net income $140  $773          Earnings per common share:        Basic $0.00  $0.01 Diluted $0.00  $0.01          Weighted average number of common shares outstanding:        Basic  90,868,110   88,753,838 Diluted  90,868,110   88,753,838 

See accompanying notes to unaudited consolidated financial statements.

 5Table of Contents

PEDEVCO CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(amounts in thousands)

  Three Months Ended March 31,    2025  2024 Cash Flows From Operating Activities:      Net income $140  $773 Adjustments to reconcile net income to net cash provided by (used in) operating activities:        Depreciation