10-K Filing

GROOVE BOTANICALS INC. CIK: 918573 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001607062-19-000014`
Period End Date	20170331
Filing Date	20190111
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	grve-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 42 Cash Flow Statement 52 Stockholders Equity 21

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$104.57K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$135.71K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$108.22K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$104.57K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$108.22K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.59K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.06K	USD	Point-in-time
Unproven oil & gas properties	`CapitalizedCostsUnprovedProperties`	$177.00K	USD	Point-in-time
Unproven oil & gas properties	`CapitalizedCostsUnprovedProperties`	$177.00K	USD	Point-in-time
Producing oil & gas properties, net	`OilAndGasPropertyFullCostMethodNet`	$34.59K	USD	Point-in-time
Producing oil & gas properties, net	`OilAndGasPropertyFullCostMethodNet`	$74.82K	USD	Point-in-time
Total Assets	`Assets`	$373.63K	USD	Point-in-time
Total Assets	`Assets`	$325.22K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$194.69K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$208.46K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$205.46K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$219.56K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$168.04K	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
Dividends payable	`DividendsPayableCurrent`	$357.56K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$203.49K	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, shares authorized	`CommonStockSharesAuthorized`	3.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Dividends payable - related parties	`DividendsPayableRelatedParties`	$76.45K	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
Dividends payable - related parties	`DividendsPayableRelatedParties`	$37.45K	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
Common stock, shares issued	`CommonStockSharesIssued`	18.20M	shares	Point-in-time
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$10.92K	USD	Point-in-time
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$9.96K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.20M	shares	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.20M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.20M	shares	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$149.20K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$149.20K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$784.81K	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$136.64K	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$150.31K	USD	Point-in-time
Total Liabilities	`Liabilities`	$921.45K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.19M	USD	Point-in-time
Preferred stock, Series A, $.10 par value, 1,000,000 shares authorized; 100 shares issued and outstanding stated at redemption value, as of March 31, 2017 and and March 31, 2016, respectively, liquidation preference of $576,450 And $537,450	`PreferredStockValue`	$10.00	USD	Point-in-time
Preferred stock, Series A, $.10 par value, 1,000,000 shares authorized; 100 shares issued and outstanding stated at redemption value, as of March 31, 2017 and and March 31, 2016, respectively, liquidation preference of $576,450 And $537,450	`PreferredStockValue`	$10.00	USD	Point-in-time
Preferred stock, Series B, $.10 par value, 2,000 shares authorized; 1,983 and 1,983 shares issued and outstanding stated at redemption value as of March 31, 2017 and and March 31, 2016, respectively, liquidation preference of $2,326,526 and $1,983,000	`PreferredStockValueSeriesB`	$198.00	USD	Point-in-time
Preferred stock, Series B, $.10 par value, 2,000 shares authorized; 1,983 and 1,983 shares issued and outstanding stated at redemption value as of March 31, 2017 and and March 31, 2016, respectively, liquidation preference of $2,326,526 and $1,983,000	`PreferredStockValueSeriesB`	$198.00	USD	Point-in-time
Common stock, $.001 par value: 200,000,000 shares authorized 18,198,062 and 18,198,062 shares issued and outstanding at March 31, 2017 and March 31, 2016, respectively	`CommonStockValue`	$18.20K	USD	Point-in-time
Common stock, $.001 par value: 200,000,000 shares authorized 18,198,062 and 18,198,062 shares issued and outstanding at March 31, 2017 and March 31, 2016, respectively	`CommonStockValue`	$18.20K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$32.99M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$32.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.01M	USD	Point-in-time
Total Stockholders (Deficit) Equity	`StockholdersEquity`	$-598.48K	USD	Point-in-time
Total Stockholders (Deficit) Equity	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$51.02K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$133.11K	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-547.82K	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.69M	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-867.24K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$373.63K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$325.22K	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$57.02K	USD	Annual
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$52.93K	USD	Annual
Lease operating expense, severance taxes	`OperatingLeaseExpense`	$50.76K	USD	Annual
Lease operating expense, severance taxes	`OperatingLeaseExpense`	$52.00K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$183.77K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$788.84K	USD	Annual
Bad debt expense	`BadDebtExpense`	$58.74K	USD	Annual
Bad debt expense	`BadDebtExpense`	-	USD	Annual
Impairment expense	`ImpairmentOfOilAndGasProperties`	$25.62K	USD	Annual
Impairment expense	`ImpairmentOfOilAndGasProperties`	$1.84M	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$32.81K	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$84.90K	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.82M	USD	Annual
Total operating expenses	`OperatingExpenses`	$294.20K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-2.77M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-237.18K	USD	Annual
Gain on settlement of debt	`GainsLossesOnRestructuringOfDebt`	$283.01K	USD	Annual
Gain on settlement of debt	`GainsLossesOnRestructuringOfDebt`	-	USD	Annual
Other miscellaneous income	`OtherExpenses`	-	USD	Annual
Other miscellaneous income	`OtherExpenses`	$5.49K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-16.70K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-11.51K	USD	Annual
Total other income (expense)	`OtherIncome`	$-6.02K	USD	Annual
Total other income (expense)	`OtherIncome`	$266.31K	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-243.19K	USD	Annual
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.50M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-243.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.50M	USD	Annual
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.41K	USD	Annual
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-99.00	USD	Annual
Net loss attributable to the Company	`IncomeLossAttributableToParent`	$-234.78K	USD	Annual
Net loss attributable to the Company	`IncomeLossAttributableToParent`	$-2.50M	USD	Annual
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$208.04K	USD	Annual
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$229.53K	USD	Annual
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-464.31K	USD	Annual
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.71M	USD	Annual
Net income (loss) per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	Annual
Net income (loss) per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.20M	shares	Annual
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.62M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-243.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.50M	USD	Annual
Non-cash consulting services	`AllocatedShareBasedCompensationExpense`	-	USD	Annual
Non-cash consulting services	`AllocatedShareBasedCompensationExpense`	$433.95K	USD	Annual
Preferred stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$53.30K	USD	Annual
Preferred stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$12.72K	USD	Annual
(Gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
(Gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$58.74K	USD	Annual
Impairment of assets	`ImpairmentOfOilAndGasProperties`	$25.62K	USD	Annual
Impairment of assets	`ImpairmentOfOilAndGasProperties`	$1.84M	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$32.81K	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$84.90K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.60K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$21.75K	USD	Annual
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$13.72K	USD	Annual
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$14.10K	USD	Annual
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-5.86K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-348.92K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-103.65K	USD	Annual
Principle payments received on notes receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	-	USD	Annual
Principle payments received on notes receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$1.43K	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.43K	USD	Annual
Payments on notes payable	`IncreaseDecreaseInNotesPayableCurrent`	$-10.00K	USD	Annual
Payments on notes payable	`IncreaseDecreaseInNotesPayableCurrent`	-	USD	Annual
Series B Preferred Stock issued for cash	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$330.00K	USD	Annual
Series B Preferred Stock issued for cash	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$100.00K	USD	Annual
Net cash provided in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$320.00K	USD	Annual
Net cash provided in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$100.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-27.49K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.65K	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$104.57K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$135.71K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$108.22K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$104.57K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$135.71K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$108.22K	USD	Point-in-time
Cash paid during the period for Interest	`InterestPaidNet`	-	USD	Annual
Cash paid during the period for Interest	`InterestPaidNet`	-	USD	Annual
Cash paid during the period for Taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid during the period for Taxes	`IncomeTaxesPaid`	-	USD	Annual
Common stock issued in exchange for consulting services	`StockIssued1`	$12.72K	USD	Annual
Common stock issued in exchange for consulting services	`StockIssued1`	$3.30K	USD	Annual
Common stock issued for conversion of note payable, accrued interest, and assumption of debt	`CommonStockIssuedForConversionOfNotePayableAccruedInterestAndAssumptionOfDebt`	$28.00K	USD	Annual
Common stock issued for conversion of note payable, accrued interest, and assumption of debt	`CommonStockIssuedForConversionOfNotePayableAccruedInterestAndAssumptionOfDebt`	-	USD	Annual
Gain (Loss) on extinguishment of debt	`GainLossOnExtinguishmentOfDebt`	$283.01K	USD	Annual
Gain (Loss) on extinguishment of debt	`GainLossOnExtinguishmentOfDebt`	-	USD	Annual
Preferred stock issued in exchange for consulting services	`PreferredStockIssuedInExchangeForConsultingServices`	$50.00K	USD	Annual
Preferred stock issued in exchange for consulting services	`PreferredStockIssuedInExchangeForConsultingServices`	$53.00K	USD	Annual
Preferred stock issued for extinguishment of note payable, accrued interest, and assumption of debt	`DebtConversionConvertedInstrumentAmount2`	-	USD	Annual
Preferred stock issued for extinguishment of note payable, accrued interest, and assumption of debt	`DebtConversionConvertedInstrumentAmount2`	$25.00K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-547.82K	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.69M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-867.24K	USD	Point-in-time
Preferred shares issued in exchange for notes payable	`PreferredSharesIssuedInExchangeForNotesPayable`	$25.00K	USD	Annual
Common stock issued for consulting services	`CommonStockIssuedForConsultingServices`	$12.00K	USD	Annual
Common stock issued for consulting services	`CommonStockIssuedForConsultingServices`	$3.30K	USD	Annual
Preferred Stock issued for cash	`PreferredStockIssuedForCash`	$280.00K	USD	Annual
Preferred stock issued for cash (AFS Holdings, Inc.)	`PreferredStockIssuedForCashAfsHoldingsInc.`	$100.00K	USD	Annual
Preferred stock issued for cash (AFS Holdings, Inc.)	`PreferredStockIssuedForCashAfsHoldingsInc.`	$50.00K	USD	Annual
Preferred stock issued in exchange for consulting services	`PreferredStockIssuedInExchangeForConsultingServices`	$50.00K	USD	Annual
Preferred stock issued in exchange for consulting services	`PreferredStockIssuedInExchangeForConsultingServices`	$53.00K	USD	Annual
Common stock issued to pay accounts payable	`CommonStockIssuedToPayAccountsPayable`	$26.00K	USD	Annual
Common stock issued in exchange for notes payable	`CommonStockIssuedInExchangeForNotesPayable`	$28.00K	USD	Annual
Non-controlling interest	`IncomeLossAttributableToNoncontrollingInterest`	-	USD	Annual
Preferred Dividends	`DividendsStock`	$229.53K	USD	Annual
Preferred Dividends	`DividendsStock`	$208.04K	USD	Annual
Net Loss	`NetIncomeLoss`	$-243.19K	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.50M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-547.82K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.69M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-867.24K	USD	Point-in-time

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