Groove Botanicals, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 12, 2026, reporting continued operating losses and a stockholders' deficit of $1,618,216.

Key Highlights

  • Net loss for six months: The company reported a net loss of $52,733 for the six months ended September 30, 2026, compared to $70,553 for the same period in 2025.
  • Total assets of $18,762: As of September 30, 2026, total assets stood at $18,762, up from $4,432 at March 31, 2026, with cash of $1,866.
  • Stockholders' deficit widened: Total stockholders' deficit increased to $(1,618,216) from $(1,468,248) at March 31, 2026.
  • Related party payable: The related party payable balance was $796,155 as of September 30, 2026, up from $747,961 at March 31, 2026.
  • Preferred stock dividends accrued: Dividends accrued on preferred stock totaled $109,235 for the six months ended September 30, 2026.
  • Shares outstanding unchanged: The company had 59,643,062 shares of common stock issued and outstanding as of November 12, 2026.

Groove Botanicals Financial Position and Operating Results Through September 2026

According to the filing, Groove Botanicals, Inc. recorded total operating expenses of $61,080 for the six months ended September 30, 2026, consisting of selling, general and administrative expenses of $26,811, rent of $7,200, and legal and professional expenses of $27,069. For the three months ended September 30, 2026, total operating expenses were $32,762. The company also reported other income of $8,347 for the six-month period, partially offsetting the operating loss, resulting in a net loss of $52,733 compared to $70,553 for the same period in the prior year.

The balance sheet as of September 30, 2026, showed total current liabilities of $1,636,978, including accounts payable and accrued liabilities of $63,678, advances payable of $12,500, related party payable of $796,155, dividends payable of $624,645, and dividends payable to a related party of $140,000. The accumulated deficit reached $35,716,936 as of September 30, 2026, versus $35,554,968 at March 31, 2026. The filing also disclosed a forgiveness of related party compensation of $12,000 credited to additional paid-in capital during the quarter ended September 30, 2026.

For the six months ended September 30, 2026, net cash used in operating activities was $50,636, while net cash from financing activities was $51,000, comprised of $38,500 in advances from a related party and $12,500 in proceeds from advances payable. The company reported no cash paid for interest or income taxes during the period. The cover page of the filing indicates the securities are not registered on any national exchange under Section 12(b) of the Act.

What Was Disclosed

Groove Botanicals, Inc. disclosed its unaudited condensed consolidated financial statements for the three and six months ended September 30, 2026, showing a net loss of $52,733 for the six-month period, total assets of $18,762, and a stockholders' deficit of $1,618,216.