---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-25-003701"
form_type: "8-K"
ticker: "PED"
cik: "0001141197"
company_name: "PEDEVCO CORP"
filed_at: "2025-03-31T23:59:59+00:00"
generated_at: "2026-05-24T01:30:58.747961+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PEDEVCO restates FY2022 & FY2023 financials; depletion error overstated expense by ~$2.65M

## Summary
- Audit Committee concluded prior audited FY2022 and FY2023 financials should no longer be relied upon due to depletion-expense accounting errors.
- Depletion expense overstated by ~$1.4M for 2023 and ~$1.25M for 2022; net income will increase by those amounts.
- No impact on cash, revenues, or liquidity; material weakness in internal control over financial reporting identified as of Dec 31, 2024.
- Company plans to file 2024 10-K with restated financials and has initiated a remediation plan for the material weakness.

## SEC filing metadata
- accession: 0001654954-25-003701
- form_type: 8-K
- ticker: PED
- cik: 0001141197
- company_name: PEDEVCO CORP
- filed_at: 2025-03-31T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1141197/000165495425003701/0001654954-25-003701-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1141197/000165495425003701/ped_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-25-003701
- JSON: https://secwatch.observer/filing/0001654954-25-003701.json
- Plain text: https://secwatch.observer/filing/0001654954-25-003701.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.