Pedevco

2 serious warning signs in Pedevco’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 31 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 11 later 8-Ks.

• Weak checks on its own accounts

  Serious

  The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

  “Based on this evaluation, our CEO and CFO concluded as of June 30, 2026, that our disclosure controls and procedures were not designed at a reasonable assurance level and were not effective to provide reasonable assurance that the information we are required to disclose in reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms and (ii) accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.”

  Show the full paragraph

  Under the supervision and with the participation of our management, including our Chief Executive Officer (“ CEO ”)(the Principal Executive Officer) and Chief Financial Officer (“ CFO ”)(the Principal Financial/Accounting Officer), we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act as of the end of the period covered by this Quarterly Report. Based on this evaluation, our CEO and CFO concluded as of June 30, 2026, that our disclosure controls and procedures were not designed at a reasonable assurance level and were not effective to provide reasonable assurance that the information we are required to disclose in reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms and (ii) accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure. Management's conclusion was the result of the material weaknesses identified during the preparation of the Company's year-end financial statements and reported in Item 9A of the Form 10-K for the year ended December 31, 2025 that have not yet been remediated as of June 30, 2026.

  From the 10-Q filed 13 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

• Its past accounts can't be relied on

  Serious

  It told the SEC its earlier accounts should no longer be relied on, usually because they contained errors.

  8-K Item 4.02 filed 29 Oct 2025: the company said its earlier financial statements should no longer be relied on.

  From an 8-K filed 29 October 2025: Previously issued accounts should no longer be relied on. Open the filing

• Changed auditor

  Worth knowing

  The company changed its auditor (the firm that checks its books) in the last two years.

  “On July 1, 2025, with the approval of the Audit Committee of the board of directors of PEDEVCO Corp. (the “ Company ”, “ we ” and “ us ”), the Company dismissed Marcum LLP (“ Marcum ”) as the Company’s independent registered public accounting firm, effective immediately.”

  From an 8-K filed 8 July 2025: Change of auditor. Read it in the filing

• One big customer

  Worth knowing

  One customer brings in a big share of sales: 26% last year. Losing that customer would hurt.

  “We generally sell a significant portion of our oil and gas production to a relatively small number of customers, and during the year ended December 31, 2025, sales to two customers comprised 26% and 22%, respectively, of the Company’s total oil and gas revenues.”

  From the 10-K filed 31 March 2026, Item 1. Business. Read it in the filing

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.