PEDEVCO Corp. reported a net loss of $10.4 million, or ($2.25) per share, for the year ended December 31, 2025, a decrease from a net income of $12.3 million, or $2.76 per share, in 2024. Total revenues from oil, natural gas, and NGLs increased by 16% to $45.8 million in 2025, up from $39.6 million in 2024, primarily due to increased production volumes from the October 2025 Mergers. Total production volumes increased by 35% to 910,068 Boe (2,494 Boe/d) in 2025, compared to 671,796 Boe (1,835 Boe/d) in 2024. Proved reserves increased by 14.0 MMBoe to 32.1 MMBoe as of December 31, 2025, with 49% classified as proved undeveloped. The company completed a significant merger on October 31, 2025, acquiring North Peak Oil & Gas, LLC and Century Oil and Gas Sub-Holdings, LLC, expanding its footprint in the D-J Basin and Powder River Basin. Capital expenditures for 2025 totaled $239.2 million, including $204.6 million related to the Mergers and $34.0 million for drilling and completion activities. A 1-for-20 reverse stock split was effected on March 13, 2026, approved by stockholders on October 29, 2025, and by the Board on February 27, 2026. Material weaknesses in disclosure controls and internal control over financial reporting were identified and extended, related to depletion expense calculations and tax provisions. The company entered into an Amended and Restated Credit Agreement on October 31, 2025, with an initial borrowing base of $120 million and a maximum revolving credit amount of $250 million, drawing $87 million at closing. A $1.4 million note receivable credit loss was recognized due to the full write-off of the Tilloo Note receivable and accrued interest.