---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-25-012327"
form_type: "8-K"
ticker: "PED"
cik: "0001141197"
company_name: "PEDEVCO CORP"
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:34:49.486400+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# PEDEVCO restates FY2024 financials; net income overstated by $5.5M due to tax error

## Summary
- Tax benefit and deferred income tax account overstated by ~$5.5M for FY2024.
- Earnings per share corrected from $0.20 to $0.14 basic/diluted for FY2024.
- Error had no impact on cash position, revenues, or liquidity.
- Material weaknesses in internal controls identified; remediation plan underway.
- Amended Form 10-K for FY2024 to be filed with restated financial statements.

## SEC filing metadata
- accession: 0001654954-25-012327
- form_type: 8-K
- ticker: PED
- cik: 0001141197
- company_name: PEDEVCO CORP
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1141197/000165495425012327/0001654954-25-012327-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1141197/000165495425012327/ped_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-25-012327
- JSON: https://secwatch.observer/filing/0001654954-25-012327.json
- Plain text: https://secwatch.observer/filing/0001654954-25-012327.txt

## Source-grounded claims
- claim_id: 118c462a0b601012b481b9a8221e19160d667162
  claim: PEDEVCO CORP reported that prior financial statements should not be relied upon.
  evidence_excerpt: (the “ Company ”), after discussion with the Company’s senior management and the Company’s former independent registered public accounting firm, Marcum LLP (“ Marcum ”), which audited the Company’s financial statements for the year ended December 31, 2024, concluded that the Company’s previously issued audited financial statements included in the Company’s audited consolidated financial statements as of and for the fiscal year ended December 31, 2024, originally included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “ Prior Financial Statements ”) filed with the Securities and Exchange Commission (the “ SEC ”) on March 31, 2025, 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1141197/000165495425012327/0001654954-25-012327-index.htm

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