10-Q Filing

GROOVE BOTANICALS INC. CIK: 918573 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001607062-19-000177`
Period End Date	20170630
Filing Date	20190425
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	grve-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 40 Cash Flow Statement 38

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.02K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$108.22K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$104.57K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$107.30K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$104.57K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$102.02K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.06K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.93K	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`	$15.58K	USD	Point-in-time
Total Assets	`Assets`	$302.53K	USD	Point-in-time
Total Assets	`Assets`	$325.22K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$208.46K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$212.74K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$219.56K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$219.39K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$408.19K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$357.56K	USD	Point-in-time
Dividends payable - related party	`DividendsPayableRelatedParty`	$76.45K	USD	Point-in-time
Dividends payable - related party	`DividendsPayableRelatedParty`	$86.45K	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
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$10.92K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued liabilities to joint interest	`AccruedLiabilitiesCurrentAndNoncurrent`	$10.92K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.20M	shares	Point-in-time
Notes payable	`NotesPayableCurrent`	$149.20K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$149.20K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.20M	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.20M	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.11M	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$150.31K	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$154.06K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.26M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.19M	USD	Point-in-time
Convertible Preferred stock Issued to Related Party, Series A, $.10 par value, 1,000,000 shares authorized; 100 shares issued and outstanding, as of June 30, 2017 and March 31, 2017, liquidation preference of $586,450 and $576,450 as of June 30, 2017 and March 31, 2017, respectively.	`PreferredStockValue`	$10.00	USD	Point-in-time
Convertible Preferred stock Issued to Related Party, Series A, $.10 par value, 1,000,000 shares authorized; 100 shares issued and outstanding, as of June 30, 2017 and March 31, 2017, liquidation preference of $586,450 and $576,450 as of June 30, 2017 and March 31, 2017, respectively.	`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 as of June 30, 2017 and March 31, 2017, liquidation preference of $2,371,148 and $2,326,526 as of June 30, 2017 and March 31, 2017, respectively.	`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 as of June 30, 2017 and March 31, 2017, liquidation preference of $2,371,148 and $2,326,526 as of June 30, 2017 and March 31, 2017, respectively.	`PreferredStockValueSeriesB`	$198.00	USD	Point-in-time
Common Stock, $0.001 par value: 200,000,000 shares authorized, 18,198,062 and 18,198,062 shares issued and outstanding as of June 30, 2017 and March 31, 2017, respectively.	`CommonStockValue`	$18.20K	USD	Point-in-time
Common Stock, $0.001 par value: 200,000,000 shares authorized, 18,198,062 and 18,198,062 shares issued and outstanding as of June 30, 2017 and March 31, 2017, 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`	$-34.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.16M	USD	Point-in-time
Total Stockholders (Deficit) Equity	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Total Stockholders (Deficit) Equity	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$133.11K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$191.24K	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-958.41K	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-867.24K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$325.22K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$302.53K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$17.90K	USD	1 Quarter
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$11.73K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`OperatingLeaseExpense`	$19.11K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`OperatingLeaseExpense`	$12.97K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$21.94K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$20.03K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$6.25K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$2.85K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$35.85K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$47.30K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-29.41K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-24.12K	USD	1 Quarter
Other miscellaneous loss	`OtherMiscellaneousLoss`	$-3.56K	USD	1 Quarter
Other miscellaneous loss	`OtherMiscellaneousLoss`	-	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-2.87K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-2.87K	USD	1 Quarter
Total other income (expense)	`OtherIncome`	$-6.43K	USD	1 Quarter
Total other income (expense)	`OtherIncome`	$-2.87K	USD	1 Quarter
Income (Loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-32.27K	USD	1 Quarter
Income (Loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-30.55K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-32.27K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-30.55K	USD	1 Quarter
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.00	USD	1 Quarter
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-52.00	USD	1 Quarter
Net income (loss) attributable to the Company	`IncomeLossAttributableToParent`	$-30.54K	USD	1 Quarter
Net income (loss) attributable to the Company	`IncomeLossAttributableToParent`	$-32.22K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$56.12K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$60.62K	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-91.17K	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-88.34K	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`	$-0.01	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.20M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.20M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.20M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.20M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-32.27K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-30.55K	USD	1 Quarter
Depreciation	`Depreciation`	$1.13K	USD	1 Quarter
Depreciation	`Depreciation`	$1.13K	USD	1 Quarter
Depletion	`Depletion`	$5.12K	USD	1 Quarter
Depletion	`Depletion`	$1.72K	USD	1 Quarter
Depreciation and ARO liability	`DepreciationAndAmortization`	$724.00	USD	1 Quarter
Depreciation and ARO liability	`DepreciationAndAmortization`	$724.00	USD	1 Quarter
Loss on sale of property	`GainLossOnSaleOfProperty`	-	USD	1 Quarter
Loss on sale of property	`GainLossOnSaleOfProperty`	$3.56K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$4.28K	USD	1 Quarter
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$15.27K	USD	1 Quarter
Accrued payroll - related parties	`AccruedPayrollRelatedParties`	$-175.00	USD	1 Quarter
Accrued payroll - related parties	`AccruedPayrollRelatedParties`	$5.50K	USD	1 Quarter
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$3.11K	USD	1 Quarter
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$3.76K	USD	1 Quarter
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.55K	USD	1 Quarter
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-918.00	USD	1 Quarter
Cash received on sale of property	`CashReceivedOnSaleOfProperty`	-	USD	1 Quarter
Cash received on sale of property	`CashReceivedOnSaleOfProperty`	$13.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$13.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash provided in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-918.00	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.55K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$102.02K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$108.22K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$104.57K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$107.30K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$102.02K	USD	Point-in-time
Cash and cash equivalents at end 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`	$107.30K	USD	Point-in-time
Cash paid during the period for Interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid during the period for Interest	`InterestPaidNet`	-	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

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