10-Q Filing

GROOVE BOTANICALS INC. CIK: 918573 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001607062-14-000159`
Period End Date	20140630
Filing Date	20141104
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	aogn-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 36 Cash Flow Statement 52

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for doubtful accounts on receivables from joint interests	`AllowanceForDoubtfulAccountsReceivable`	$133.43K	USD	Point-in-time
Allowance for doubtful accounts on receivables from joint interests	`AllowanceForDoubtfulAccountsReceivable`	$136.87K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$223.91K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$134.04K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0 and $0	`AccountsReceivableNetCurrent`	$56.09K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0 and $0	`AccountsReceivableNetCurrent`	$54.23K	USD	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetCurrent`	$15.71K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetCurrent`	$12.86K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$279.40K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$302.06K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Receivables from joint interests, net of allowance for doubtful accounts of $133,428 and $136,873	`DueFromRelatedPartiesCurrent`	$20.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Receivables from joint interests, net of allowance for doubtful accounts of $133,428 and $136,873	`DueFromRelatedPartiesCurrent`	$20.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	3.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$615.91K	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`	$502.39K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.86M	shares	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetNoncurrent`	$2.86K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.66M	shares	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetNoncurrent`	$714.00	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.66M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentOwnedNet`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentOwnedNet`	$21.52K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.86M	shares	Point-in-time
Unproven oil & gas properties	`CapitalizedCostsUnprovedProperties`	$1.87M	USD	Point-in-time
Unproven oil & gas properties	`CapitalizedCostsUnprovedProperties`	$1.87M	USD	Point-in-time
Producing oil & gas properties, net	`OilAndGasPropertyFullCostMethodNet`	$149.48K	USD	Point-in-time
Producing oil & gas properties, net	`OilAndGasPropertyFullCostMethodNet`	$144.68K	USD	Point-in-time
Intellectual property rights, net	`FiniteLivedIntangibleAssetsNet`	$85.17K	USD	Point-in-time
Intellectual property rights, net	`FiniteLivedIntangibleAssetsNet`	$95.81K	USD	Point-in-time
Total Assets	`Assets`	$2.62M	USD	Point-in-time
Total Assets	`Assets`	$2.73M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$579.54K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$587.28K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$207.82K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$208.32K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$66.73K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$72.11K	USD	Point-in-time
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$10.79K	USD	Point-in-time
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$11.60K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$26.00K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$26.00K	USD	Point-in-time
Notes payable, net of discount	`OtherNotesPayableCurrent`	-	USD	Point-in-time
Notes payable, net of discount	`OtherNotesPayableCurrent`	$464.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$891.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.37M	USD	Point-in-time
Notes payable, net of discount	`LongTermNotesPayable`	$514.30K	USD	Point-in-time
Notes payable, net of discount	`LongTermNotesPayable`	-	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$112.93K	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$115.75K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.52M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.48M	USD	Point-in-time
Preferred stock, Series A, $0.10 par value, 1,000 shares authorized; 100 shares issued and outstanding as of June 30, 2014 and March 31, 2014, respectively	`PreferredStockSharesAuthorized`	10.00	shares	Point-in-time
Preferred stock, Series A, $0.10 par value, 1,000 shares authorized; 100 shares issued and outstanding as of June 30, 2014 and March 31, 2014, respectively	`PreferredStockSharesAuthorized`	10.00	shares	Point-in-time
Preferred stock, Series B, $0.10 par value, 2,000 shares authorized; 1,350 and 1,300 shares issued and outstanding as of June 30, 2014 and March 31, 2014, respectively	`PreferredStockValueSeriesB`	$130.00	USD	Point-in-time
Preferred stock, Series B, $0.10 par value, 2,000 shares authorized; 1,350 and 1,300 shares issued and outstanding as of June 30, 2014 and March 31, 2014, respectively	`PreferredStockValueSeriesB`	$135.00	USD	Point-in-time
Common stock, $0.001 par value: 200,000,000 shares authorized 11,858,062 and 11,658,062 shares issued ando utstanding at June 30, 2014 and March 31, 2014, respectively	`CommonStockValue`	$11.86K	USD	Point-in-time
Common stock, $0.001 par value: 200,000,000 shares authorized 11,858,062 and 11,658,062 shares issued ando utstanding at June 30, 2014 and March 31, 2014, respectively	`CommonStockValue`	$11.66K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$32.09M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$32.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.82M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.14M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.21M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.73M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.62M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Oil & Gas Sales	`OilAndGasRevenue`	$24.50K	USD	1 Quarter
Oil & Gas Sales	`OilAndGasRevenue`	$19.07K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`LeaseOperatingExpense`	$19.55K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`LeaseOperatingExpense`	$19.73K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$73.44K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$61.70K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$60.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$14.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$15.86K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$14.43K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$122.84K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$155.86K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-136.79K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-98.34K	USD	1 Quarter
Other micsellaneous income	`OtherIncome`	-	USD	1 Quarter
Other micsellaneous income	`OtherIncome`	$10.10K	USD	1 Quarter
Gain (Loss) on conversion of notes payable	`LossOnConversionOfNotePayable`	$-7.90K	USD	1 Quarter
Gain (Loss) on conversion of notes payable	`LossOnConversionOfNotePayable`	-	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-10.60K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-25.05K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-504.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-32.95K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-98.84K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-169.74K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-98.84K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-169.74K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$-13.78K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$-40.38K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-139.22K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-183.52K	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.03	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.81M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.81M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-98.84K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-169.74K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$14.00K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$60.00K	USD	1 Quarter
Loss on conversion on notes payable	`LossOnConversionOnNotesPayable`	-	USD	1 Quarter
Loss on conversion on notes payable	`LossOnConversionOnNotesPayable`	$7.90K	USD	1 Quarter
Depreciation	`Depreciation`	$1.13K	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Depletion	`DepletionOfOilAndGasProperties`	$4.08K	USD	1 Quarter
Depletion	`DepletionOfOilAndGasProperties`	$3.78K	USD	1 Quarter
Depreciation and ARO liability	`DepreciationAndAmortization`	$724.00	USD	1 Quarter
Depreciation and ARO liability	`DepreciationAndAmortization`	$724.00	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$10.65K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$10.65K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.87K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.68K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-35.21K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$7.43K	USD	1 Quarter
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$2.57K	USD	1 Quarter
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$2.82K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.88K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-109.65K	USD	1 Quarter
Deposit on the purchase of additional assets	`IncreaseDecreaseInDepositOtherAssets`	$40.70K	USD	1 Quarter
Deposit on the purchase of additional assets	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Principle payments received on notes receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$3.58K	USD	1 Quarter
Principle payments received on notes receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$5.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-37.12K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.00K	USD	1 Quarter
Common stock issued for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Common stock issued for cash	`ProceedsFromIssuanceOfCommonStock`	$300.00K	USD	1 Quarter
Dividends paid	`DividendsAndInterestPaid`	$-12.00K	USD	1 Quarter
Dividends paid	`DividendsAndInterestPaid`	$-35.00K	USD	1 Quarter
Preferred stock B issued for cash	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$50.00K	USD	1 Quarter
Preferred stock B issued for cash	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-35.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$338.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-89.88K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$191.23K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtBeginningOfPeriod`	$129.93K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtBeginningOfPeriod`	$223.91K	USD	1 Quarter
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtEndOfPeriod`	$321.16K	USD	1 Quarter
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtEndOfPeriod`	$134.04K	USD	1 Quarter
Cash paid during the period for Interest	`InterestPaid`	-	USD	1 Quarter
Cash paid during the period for Interest	`InterestPaid`	-	USD	1 Quarter
Cash paid during the period for Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid during the period for Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Common stock issued in exchange for consulting services	`StockIssued1`	$60.00K	USD	1 Quarter
Common stock issued in exchange for consulting services	`StockIssued1`	$14.00K	USD	1 Quarter
Preferred stock issued for conversion of notes payable, accrued interest, and assumption of debt	`DebtConversionConvertedInstrumentAmount2`	$50.00K	USD	1 Quarter
Preferred stock issued for conversion of notes payable, accrued interest, and assumption of debt	`DebtConversionConvertedInstrumentAmount2`	$10.00K	USD	1 Quarter
Gain (Loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain (Loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter

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