10-Q Filing

GROOVE BOTANICALS INC. CIK: 918573 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001607062-19-000178`
Period End Date	20170930
Filing Date	20190425
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	grve-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 80 Cash Flow Statement 42

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
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`	$99.63K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.70K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$104.57K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$99.63K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.79K	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`	$15.00K	USD	Point-in-time
Producing oil & gas properties, net	`OilAndGasPropertyFullCostMethodNet`	$34.59K	USD	Point-in-time
Total Assets	`Assets`	$298.42K	USD	Point-in-time
Total Assets	`Assets`	$325.22K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$229.22K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$208.46K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$219.56K	USD	Point-in-time
Accrued payroll - related parties	`DueToEmployeesCurrent`	$227.54K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$357.56K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$458.81K	USD	Point-in-time
Dividends payable - related party	`DividendsPayableRelatedParty`	$76.45K	USD	Point-in-time
Dividends payable - related party	`DividendsPayableRelatedParty`	$96.45K	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
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
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	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 authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Notes payable	`NotesPayableCurrent`	$149.20K	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
Total current liabilities	`LiabilitiesCurrent`	$1.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.19M	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$150.31K	USD	Point-in-time
Accrued asset retirement obligation (ARO) liability	`AssetRetirementObligationsNoncurrent`	$157.82K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.35M	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 September 30, 2017 and March 31, 2017, respectively liquidation preference of $596,450 and $ 576,450 as of September 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 September 30, 2017 and March 31, 2017, respectively liquidation preference of $596,450 and $ 576,450 as of September 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 liquidation preference of $2,415,770 and $2,326,526 as of September 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 liquidation preference of $2,415,770 and $2,326,526 as of September 30, 2017 and March 31, 2017, respectively	`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 September 30, 2017 and March 31, 2017, 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 September 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`	$-34.25M	USD	Point-in-time
Total Stockholders (Deficit) Equity	`StockholdersEquity`	$-1.24M	USD	Point-in-time
Total Stockholders (Deficit) Equity	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$133.11K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$189.59K	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-867.24K	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.05M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$298.42K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$325.22K	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$10.76K	USD	1 Quarter
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$22.49K	USD	2 Qtrs
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$26.12K	USD	2 Qtrs
Oil & Gas Sales	`GainLossOnSaleOfOilAndGasProperty`	$8.22K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`OperatingLeaseExpense`	$12.11K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`OperatingLeaseExpense`	$31.23K	USD	2 Qtrs
Lease operating expense, severance taxes and ARO accretion	`OperatingLeaseExpense`	$26.39K	USD	1 Quarter
Lease operating expense, severance taxes and ARO accretion	`OperatingLeaseExpense`	$39.36K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$16.11K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.01K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$38.04K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$33.03K	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$933.00	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$3.84K	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$11.72K	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$5.47K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$40.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$33.69K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$76.24K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$80.99K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-54.88K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-25.47K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-29.63K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-53.75K	USD	2 Qtrs
Other miscellaneous loss	`OtherMiscellaneousLoss`	$-3.56K	USD	2 Qtrs
Other miscellaneous loss	`OtherMiscellaneousLoss`	-	USD	1 Quarter
Other miscellaneous loss	`OtherMiscellaneousLoss`	-	USD	1 Quarter
Other miscellaneous loss	`OtherMiscellaneousLoss`	-	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-5.74K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-2.87K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-2.90K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-5.77K	USD	2 Qtrs
Total other income (expense)	`OtherIncome`	$-2.87K	USD	1 Quarter
Total other income (expense)	`OtherIncome`	$-2.90K	USD	1 Quarter
Total other income (expense)	`OtherIncome`	$-5.77K	USD	2 Qtrs
Total other income (expense)	`OtherIncome`	$-9.30K	USD	2 Qtrs
Income (Loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-32.50K	USD	1 Quarter
Income (Loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-63.05K	USD	2 Qtrs
Income (Loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-60.64K	USD	2 Qtrs
Income (Loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-28.37K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-60.64K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-30.55K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-28.37K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-32.50K	USD	1 Quarter
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-16.00	USD	2 Qtrs
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.00	USD	1 Quarter
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.00	USD	1 Quarter
Less net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-58.00	USD	2 Qtrs
Net income (loss) attributable to the Company	`IncomeLossAttributableToParent`	$-28.36K	USD	1 Quarter
Net income (loss) attributable to the Company	`IncomeLossAttributableToParent`	$-60.59K	USD	2 Qtrs
Net income (loss) attributable to the Company	`IncomeLossAttributableToParent`	$-63.04K	USD	2 Qtrs
Net income (loss) attributable to the Company	`IncomeLossAttributableToParent`	$-32.49K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$56.12K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$60.62K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$121.24K	USD	2 Qtrs
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$112.24K	USD	2 Qtrs
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-184.28K	USD	2 Qtrs
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-172.82K	USD	2 Qtrs
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-93.12K	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-84.48K	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	2 Qtrs
Net income (loss) per share - basic	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
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	2 Qtrs
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.20M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.20M	shares	2 Qtrs
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.20M	shares	2 Qtrs
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	2 Qtrs
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.20M	shares	2 Qtrs
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.20M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-60.64K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-30.55K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-28.37K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-32.50K	USD	1 Quarter
Depreciation	`Depreciation`	$1.13K	USD	1 Quarter
Depreciation	`Depreciation`	$2.27K	USD	2 Qtrs
Depreciation	`Depreciation`	$1.13K	USD	1 Quarter
Depreciation	`Depreciation`	$2.27K	USD	2 Qtrs
Depletion	`Depletion`	$1.58K	USD	2 Qtrs
Depletion	`Depletion`	$9.46K	USD	2 Qtrs
ARO Depreciation	`DepreciationAndAmortization`	$1.45K	USD	2 Qtrs
ARO Depreciation	`DepreciationAndAmortization`	$1.45K	USD	2 Qtrs
Loss on sale of property	`GainLossOnSaleOfProperty`	-	USD	2 Qtrs
Loss on sale of property	`GainLossOnSaleOfProperty`	$3.56K	USD	2 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$20.76K	USD	2 Qtrs
Accounts payable and other accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$25.04K	USD	2 Qtrs
Accrued payroll - related parties	`AccruedPayrollRelatedParties`	$7.97K	USD	2 Qtrs
Accrued payroll - related parties	`AccruedPayrollRelatedParties`	$14.70K	USD	2 Qtrs
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$7.52K	USD	2 Qtrs
Asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$6.21K	USD	2 Qtrs
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.52K	USD	2 Qtrs
Net cash (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.95K	USD	2 Qtrs
Cash received on sale of property	`CashReceivedOnSaleOfProperty`	$13.00K	USD	2 Qtrs
Cash received on sale of property	`CashReceivedOnSaleOfProperty`	-	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$13.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash provided in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash provided in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.95K	USD	2 Qtrs
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.52K	USD	2 Qtrs
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`	$99.63K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$106.70K	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`	$99.63K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$106.70K	USD	Point-in-time
Cash paid during the period for Interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid during the period for Interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid during the period for Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid during the period for Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs

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