10-Q Filing

GROOVE BOTANICALS INC. CIK: 918573 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001171520-24-000017`
Period End Date	20230930
Filing Date	20240111
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	eps11092_grve_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 71 Cash Flow Statement 56 Stockholders Equity 22

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.85K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.57K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$25.00	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$25.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$352.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$390.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.98K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.22K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$4.98K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.22K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.64M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	58.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	58.64M	shares	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.94K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.49K	USD	Point-in-time
Interest Payable	`InterestPayableCurrent`	$19.68K	USD	Point-in-time
Interest Payable	`InterestPayableCurrent`	$14.68K	USD	Point-in-time
Related Party Payable	`RelatedPartyPayableCurrent`	$301.10K	USD	Point-in-time
Related Party Payable	`RelatedPartyPayableCurrent`	$368.44K	USD	Point-in-time
Convertible Notes Payable	`ConvertibleNotesPayableCurrent`	$100.00K	USD	Point-in-time
Convertible Notes Payable	`ConvertibleNotesPayableCurrent`	$100.00K	USD	Point-in-time
Dividends Payable - Related Party	`DividendsPayableCurrent`	$109.23K	USD	Point-in-time
Dividends Payable - Related Party	`DividendsPayableCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$642.29K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$460.27K	USD	Point-in-time
Total Liabilities	`Liabilities`	$642.29K	USD	Point-in-time
Total Liabilities	`Liabilities`	$460.27K	USD	Point-in-time
Common Stock, $0.001 par value, 200,000,000 shares authorized; 58,643,062 and 57,643,062 shares issued and outstanding as of September 30, 2023 and March 31, 2023, respectively	`CommonStockValue`	$58.64K	USD	Point-in-time
Common Stock, $0.001 par value, 200,000,000 shares authorized; 58,643,062 and 57,643,062 shares issued and outstanding as of September 30, 2023 and March 31, 2023, respectively	`CommonStockValue`	$57.64K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.42M	USD	Point-in-time
Total stockholder's deficit	`StockholdersEquity`	$-455.29K	USD	Point-in-time
Total stockholder's deficit	`StockholdersEquity`	$-431.19K	USD	Point-in-time
Total stockholder's deficit	`StockholdersEquity`	$-639.07K	USD	Point-in-time
Total stockholder's deficit	`StockholdersEquity`	$-532.79K	USD	Point-in-time
Total stockholder's deficit	`StockholdersEquity`	$-557.05K	USD	Point-in-time
Total stockholder's deficit	`StockholdersEquity`	$-454.94K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT	`LiabilitiesAndStockholdersEquity`	$3.22K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT	`LiabilitiesAndStockholdersEquity`	$4.98K	USD	Point-in-time

Income Statement 71 line items

Line Item	Tag	Value	Unit	Period
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$39.97K	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$21.30K	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$19.43K	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$36.19K	USD	2 Qtrs
Rent	`Rent`	$4.64K	USD	1 Quarter
Rent	`Rent`	$4.58K	USD	1 Quarter
Rent	`Rent`	$9.29K	USD	2 Qtrs
Rent	`Rent`	$8.51K	USD	2 Qtrs
Legal and Professional Expenses	`ProfessionalAndContractServicesExpense`	$828.00	USD	1 Quarter
Legal and Professional Expenses	`ProfessionalAndContractServicesExpense`	$38.17K	USD	2 Qtrs
Legal and Professional Expenses	`ProfessionalAndContractServicesExpense`	$24.07K	USD	2 Qtrs
Legal and Professional Expenses	`ProfessionalAndContractServicesExpense`	$19.61K	USD	1 Quarter
Consulting Expense	`ConsultingExpense`	-	USD	2 Qtrs
Consulting Expense	`ConsultingExpense`	$30.00K	USD	2 Qtrs
Consulting Expense	`ConsultingExpense`	-	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$86.65K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$45.50K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$24.91K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$99.55K	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-45.50K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-86.65K	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-99.55K	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-24.91K	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$61.89K	USD	2 Qtrs
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$21.11K	USD	1 Quarter
Change in Derivative Liability	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$-31.77K	USD	1 Quarter
Change in Derivative Liability	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Change in Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$52.76K	USD	2 Qtrs
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	$25.00K	USD	2 Qtrs
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	-	USD	2 Qtrs
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Interest Expense	`InterestExpenseDebtExcludingAmortization`	$3.73K	USD	1 Quarter
Interest Expense	`InterestExpenseDebtExcludingAmortization`	$7.81K	USD	2 Qtrs
Interest Expense	`InterestExpenseDebtExcludingAmortization`	$2.50K	USD	1 Quarter
Interest Expense	`InterestExpenseDebtExcludingAmortization`	$5.00K	USD	2 Qtrs
Miscellaneous other income	`OtherNonoperatingIncome`	-	USD	2 Qtrs
Miscellaneous other income	`OtherNonoperatingIncome`	$734.00	USD	2 Qtrs
Miscellaneous other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Miscellaneous other income	`OtherNonoperatingIncome`	$513.00	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$8.79K	USD	2 Qtrs
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$-56.10K	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$-2.50K	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$-5.00K	USD	2 Qtrs
Loss	`NetIncomeLoss`	$-101.60K	USD	1 Quarter
Loss	`NetIncomeLoss`	$-77.86K	USD	2 Qtrs
Loss	`NetIncomeLoss`	$-104.55K	USD	2 Qtrs
Loss	`NetIncomeLoss`	$-27.41K	USD	1 Quarter
Loss attributed to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-101.60K	USD	1 Quarter
Loss attributed to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	-	USD	1 Quarter
Loss attributed to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	-	USD	2 Qtrs
Loss attributed to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-77.86K	USD	2 Qtrs
Basic Earnings (Loss) per Common Share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Earnings (Loss) per Common Share	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic Earnings (Loss) per Common Share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Earnings (Loss) per Common Share	`EarningsPerShareBasic`	-	USD	2 Qtrs
Diluted Earnings (Loss) per Common Share	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted Earnings (Loss) per Common Share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Earnings (Loss) per Common Share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Earnings (Loss) per Common Share	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	58.64M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	52.19M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	52.06M	shares	2 Qtrs
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	58.56M	shares	2 Qtrs
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.56M	shares	2 Qtrs
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.64M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	52.19M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	52.06M	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-101.60K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-77.86K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-104.55K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-27.41K	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$61.89K	USD	2 Qtrs
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$21.11K	USD	1 Quarter
Change in Derivative Liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	2 Qtrs
Change in Derivative Liability	`IncreaseDecreaseInDerivativeLiabilities`	$-52.76K	USD	2 Qtrs
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	$25.00K	USD	2 Qtrs
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	-	USD	2 Qtrs
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Gain on Settlement of Debt	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Stock-Based Compensation for Consulting	`ShareBasedCompensation`	-	USD	2 Qtrs
Stock-Based Compensation for Consulting	`ShareBasedCompensation`	$30.00K	USD	2 Qtrs
Accrued Interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-5.00K	USD	2 Qtrs
Accrued Interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-7.81K	USD	2 Qtrs
Accrued Payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$24.00K	USD	2 Qtrs
Accrued Payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$24.00K	USD	2 Qtrs
Accounts Payable and Accrued Liabilities - Related Party	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	-	USD	2 Qtrs
Accounts Payable and Accrued Liabilities - Related Party	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$80.00	USD	2 Qtrs
Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-210.00	USD	2 Qtrs
Decrease in Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-38.00	USD	2 Qtrs
Decrease in Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Increase (Decrease) in Accounts Payable and Accrued Liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$451.00	USD	2 Qtrs
Increase (Decrease) in Accounts Payable and Accrued Liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-483.00	USD	2 Qtrs
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-62.11K	USD	2 Qtrs
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-45.06K	USD	2 Qtrs
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Funds Received from Related Party	`ProceedsFromRelatedPartyDebt`	$151.00K	USD	2 Qtrs
Funds Received from Related Party	`ProceedsFromRelatedPartyDebt`	$45.39K	USD	2 Qtrs
Funds Distributed to Related Party	`RepaymentsOfRelatedPartyDebt`	$4.00K	USD	2 Qtrs
Funds Distributed to Related Party	`RepaymentsOfRelatedPartyDebt`	$2.05K	USD	2 Qtrs
Repayment of Outstanding Convertible Debt	`RepaymentsOfConvertibleDebt`	-	USD	2 Qtrs
Repayment of Outstanding Convertible Debt	`RepaymentsOfConvertibleDebt`	$59.65K	USD	2 Qtrs
Repayment of Outstanding Contingent Liability	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$70.35K	USD	2 Qtrs
Repayment of Outstanding Contingent Liability	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	2 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$43.34K	USD	2 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$17.00K	USD	2 Qtrs
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-45.11K	USD	2 Qtrs
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.72K	USD	2 Qtrs
Cash at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.42K	USD	Point-in-time
Cash at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.57K	USD	Point-in-time
Cash at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.85K	USD	Point-in-time
Cash at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.53K	USD	Point-in-time
Cash at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.42K	USD	Point-in-time
Cash at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.57K	USD	Point-in-time
Cash at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.85K	USD	Point-in-time
Cash at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.53K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	2 Qtrs
Interest	`InterestPaidNet`	-	USD	2 Qtrs
Income Taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income Taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-455.29K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-431.19K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-639.07K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-532.79K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-557.05K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-454.94K	USD	Point-in-time
Issuance of Stock for Consulting	`IssuanceOfStockForConsultingValue`	$30.00K	USD	1 Quarter
Accrual of Preferred Dividends to Related Party	`AccrualOfPreferredDividendsToRelatedParty`	$-54.62K	USD	1 Quarter
Accrual of Preferred Dividends to Related Party	`AccrualOfPreferredDividendsToRelatedParty`	$-54.62K	USD	1 Quarter
Issuance of Stock for Cash Received in Prior Period	`StockIssuedDuringPeriodValueNewIssues`	$5.00K	USD	Point-in-time
Issuance of Stock for Cash Received in Prior Period	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Issuance of Stock for Cash Received in Prior Period, shares	`StockIssuedDuringPeriodSharesNewIssues`	2.50M	shares	Point-in-time
Net Loss	`ProfitLoss`	$23.75K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-77.14K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-101.60K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-27.41K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-455.29K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-431.19K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-639.07K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-532.79K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-557.05K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-454.94K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.