10-Q Filing

GROOVE BOTANICALS INC. CIK: 918573 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001607062-15-000394`
Period End Date	20150630
Filing Date	20150910
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	aogn-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 40 Cash Flow Statement 55

Balance Sheet 75 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`	$131.24K	USD	Point-in-time
Allowance for doubtful accounts on receivables from joint interests	`AllowanceForDoubtfulAccountsReceivable`	$132.81K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$128.82K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.71K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0 and $0	`AccountsReceivableNetCurrent`	$33.34K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $0 and $0	`AccountsReceivableNetCurrent`	$28.96K	USD	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetCurrent`	$10.71K	USD	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetCurrent`	$11.43K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$368.95K	USD	Point-in-time
Deposits and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$360.61K	USD	Point-in-time
Receivables from joint interests, net of allowance for doubtful accounts of $132,811 and $131,236	`DueFromRelatedPartiesCurrent`	$20.00K	USD	Point-in-time
Receivables from joint interests, net of allowance for doubtful accounts of $132,811 and $131,236	`DueFromRelatedPartiesCurrent`	$20.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$549.10K	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$569.43K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentOwnedNet`	$18.12K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	3.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentOwnedNet`	$16.99K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.55M	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`	$235.77K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.50M	shares	Point-in-time
Producing oil & gas properties, net	`OilAndGasPropertyFullCostMethodNet`	$239.28K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.55M	shares	Point-in-time
Intellectual property rights, net	`FiniteLivedIntangibleAssetsNet`	$53.23K	USD	Point-in-time
Intellectual property rights, net	`FiniteLivedIntangibleAssetsNet`	$42.59K	USD	Point-in-time
Total Assets	`Assets`	$2.75M	USD	Point-in-time
Total Assets	`Assets`	$2.71M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$136.82K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$433.75K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$211.32K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$201.44K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$32.95K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$67.70K	USD	Point-in-time
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$10.57K	USD	Point-in-time
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$10.20K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Notes payable	`OtherNotesPayableCurrent`	$204.30K	USD	Point-in-time
Notes payable	`OtherNotesPayableCurrent`	$224.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$640.46K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$932.88K	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$127.33K	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$124.22K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.06M	USD	Point-in-time
Total Liabilities	`Liabilities`	$767.78K	USD	Point-in-time
Preferred stock, Series A, $0.10 par value, 100 shares authorized; 100 shares issued and outstanding as of June 30, 2015 and March 31, 2015, respectively, liquidation preference of $529,450 and $532,950 as of June 30, 2015 and March 31, 2015, respectively.	`PreferredStockValue`	$10.00	USD	Point-in-time
Preferred stock, Series A, $0.10 par value, 100 shares authorized; 100 shares issued and outstanding as of June 30, 2015 and March 31, 2015, respectively, liquidation preference of $529,450 and $532,950 as of June 30, 2015 and March 31, 2015, respectively.	`PreferredStockValue`	$10.00	USD	Point-in-time
Preferred stock, Series B, $0.10 par value, 2,000 shares authorized; 1,750 and 1,625 shares shares issued and outstanding liquidation preference of $1,788,250 and $1,625,000 as of June 30, 2015 and March 31, 2015, respectively.	`PreferredStockSeriesBValue`	$164.00	USD	Point-in-time
Preferred stock, Series B, $0.10 par value, 2,000 shares authorized; 1,750 and 1,625 shares shares issued and outstanding liquidation preference of $1,788,250 and $1,625,000 as of June 30, 2015 and March 31, 2015, respectively.	`PreferredStockSeriesBValue`	$177.00	USD	Point-in-time
Common stock, $0.001 par value: 200,000,000 shares authorized 17,498,062 and 16,548,062 shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively.	`CommonStockValue`	$17.50K	USD	Point-in-time
Common stock, $0.001 par value: 200,000,000 shares authorized 17,498,062 and 16,548,062 shares issued and outstanding at June 30, 2015 and March 31, 2015, respectively.	`CommonStockValue`	$16.55K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$32.73M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$32.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.90M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.94M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.69M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.71M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.75M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Oil & Gas Sales	`OilAndGasRevenue`	$8.53K	USD	1 Quarter
Oil & Gas Sales	`OilAndGasRevenue`	$24.50K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`LeaseOperatingExpense`	$10.55K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`LeaseOperatingExpense`	$19.55K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$73.44K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$74.05K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$14.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$20.33K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$14.57K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$19.63K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$126.61K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$119.50K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-110.97K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-102.11K	USD	1 Quarter
Other micsellaneous income	`OtherIncome`	$10.10K	USD	1 Quarter
Other micsellaneous income	`OtherIncome`	-	USD	1 Quarter
Gain on settlement of trade payables	`LossOnConversionOfNotePayable`	$-244.97K	USD	1 Quarter
Gain on settlement of trade payables	`LossOnConversionOfNotePayable`	-	USD	1 Quarter
Interest income (expense), net	`InterestExpense`	$10.60K	USD	1 Quarter
Interest income (expense), net	`InterestExpense`	$-4.95K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-504.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$249.92K	USD	1 Quarter
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$138.95K	USD	1 Quarter
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-102.62K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$138.95K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-102.62K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$40.38K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$48.25K	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$90.70K	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-143.00K	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$0.00	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.81M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.88M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	11.81M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	28.54M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$138.95K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-102.62K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$14.00K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$12.00K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$12.00K	USD	1 Quarter
Non-cash consulting services	`AdjustmentOfWarrantsGrantedForServices`	$8.33K	USD	1 Quarter
Non-cash consulting services	`AdjustmentOfWarrantsGrantedForServices`	-	USD	1 Quarter
(Gain) on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	-	USD	1 Quarter
(Gain) on forgiveness of debt	`DebtInstrumentDecreaseForgiveness`	$-244.97K	USD	1 Quarter
(Gain) on forgiveness of interest payable	`GainOnForgivenessOfInterestPayable`	-	USD	1 Quarter
(Gain) on forgiveness of interest payable	`GainOnForgivenessOfInterestPayable`	$-11.38K	USD	1 Quarter
Depreciation	`Depreciation`	$1.33K	USD	1 Quarter
Depreciation	`Depreciation`	$1.13K	USD	1 Quarter
Depletion	`DepletionOfOilAndGasProperties`	$7.85K	USD	1 Quarter
Depletion	`DepletionOfOilAndGasProperties`	$2.79K	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`	$-4.39K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.87K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$7.43K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-19.83K	USD	1 Quarter
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$2.82K	USD	1 Quarter
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$3.11K	USD	1 Quarter
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-94.11K	USD	1 Quarter
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.88K	USD	1 Quarter
Principle payments received on notes receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$714.00	USD	1 Quarter
Principle payments received on notes receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$5.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$714.00	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.00K	USD	1 Quarter
Preferred stock B issued for cash	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Preferred stock B issued for cash	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00K	USD	1 Quarter
Dividends paid	`DividendsAndInterestPaid`	$-35.00K	USD	1 Quarter
Dividends paid	`DividendsAndInterestPaid`	$-13.50K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$86.50K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-35.00K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.89K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-89.88K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtBeginningOfPeriod`	$223.91K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtBeginningOfPeriod`	$135.71K	USD	1 Quarter
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtEndOfPeriod`	$134.04K	USD	1 Quarter
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtEndOfPeriod`	$128.82K	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`	$12.00K	USD	1 Quarter
Common stock issued in exchange for consulting services	`StockIssued1`	$14.00K	USD	1 Quarter
Common stock issued for payment of accounts payable	`StockIssuedDuringPeriodValueOther`	$26.00K	USD	1 Quarter
Common stock issued for payment of accounts payable	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Note payable issued for payment of accounts payable	`NotePayableIssuedForPaymentOfAccountsPayable`	-	USD	1 Quarter
Note payable issued for payment of accounts payable	`NotePayableIssuedForPaymentOfAccountsPayable`	$5.00K	USD	1 Quarter
Preferred stock issued for extinguishment of note payable, accrued interest, and assumption of debt	`PreferredStockIssuedForExtinguishmentOfNotePayableAccruedInterestAndAssumptionOfDebt`	$50.00K	USD	1 Quarter
Preferred stock issued for extinguishment of note payable, accrued interest, and assumption of debt	`PreferredStockIssuedForExtinguishmentOfNotePayableAccruedInterestAndAssumptionOfDebt`	$25.00K	USD	1 Quarter

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