Groove Botanicals Files 10-Q for Q2 2025

TL;DR

GROVE BOTANICALS (GRVE) filed Q2 10-Q. Financials for period ending 6/30/25 available.

AI Summary

Groove Botanicals Inc. filed its 10-Q for the period ending June 30, 2025. The company, formerly known as Avalon Oil & Gas, Inc., is listed under the SIC code for Crude Petroleum & Natural Gas. The filing includes financial data for the periods ending June 30, 2025, and March 31, 2025, as well as comparative data from the previous year.

Why It Matters

This filing provides a quarterly financial update for Groove Botanicals Inc., offering insights into its performance and financial position for investors and analysts.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented in the header.

Key Numbers

• 06/30/2025 — Period End Date (Latest reporting period)
• 03/31/2025 — Previous Quarter End Date (Prior reporting period)
• 06/30/2024 — Prior Year Quarter End Date (Comparative period)

Key Players & Entities

• GROOVE BOTANICALS INC. (company) — Filer
• Avalon Oil & Gas, Inc. (company) — Former company name
• 20250630 (date) — Period of report
• 20250819 (date) — Filing date

FAQ

Key Financial Figures

• $48,000 — On an annual basis the Company accrues $48,000 of wages payable to its CEO, Kent Rodri
• $4,000 — ents due Mr. Rodriguez in the amount of $4,000. On July 30, 2024, the Company and Mr.
• $500,000 — it would result in an aggregate of the $500,000 liquidation preference, on a per share
• $1,200 — the landlord, in which the Company pays $1,200 on a monthly basis. NOTE 9 – SUBSEQUE

Filing Documents

• eps12121.htm (10-Q) — 294KB
• ex31.htm (EX-31) — 7KB
• ex32.htm (EX-32) — 4KB
• 0001171520-25-000271.txt ( ) — 1643KB
• grve-20250630_lab.xml (EX-101.LAB) — 118KB
• grve-20250630.xsd (EX-101.SCH) — 16KB
• grve-20250630_cal.xml (EX-101.CAL) — 23KB
• grve-20250630_def.xml (EX-101.DEF) — 53KB
• grve-20250630_pre.xml (EX-101.PRE) — 102KB
• eps12121_htm.xml (XML) — 129KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 18

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 18 Item 6. Exhibits 18

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Groove Botanicals, Inc. Condensed Consolidated Balance Sheets Unaudited June 30, 2025 March 31, 2025 ASSETS Current Assets: Cash $ 2,737 $ 2,042 Prepaid Expenses 949 2,478 Total Current Assets 3,686 4,520 TOTAL ASSETS $ 3,686 $ 4,520 LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: Accounts Payable and Accrued Liabilities $ 73,463 $ 68,608 Related Party Payable 641,314 608,833 Dividends payable 326,869 290,550 Dividends payable, related party 164,688 146,390 Total Current Liabilities 1,206,334 1,114,381 Total Liabilities 1,206,334 1,114,381 Stockholders' Equity Preferred Stock, Series A, $ 0.10 par value, 100 shares authorized; 100 shares issued and outstanding as of June 30, 2025, and March 31, 2025 10 10 Preferred Stock, Series B, $ 0.10 par value, 2,000 shares authorized; 1,983 shares issued and outstanding as of June 30, 2025, and March 31, 2025 198 198 Common Stock, $ 0.001 par value, 200,000,000 shares authorized. and 59,643,062 shares issued and outstanding as of June 30, 2025, and March 31, 2025 59,643 59,643 Additional paid-in capital 34,026,869 34,026,869 Accumulated deficit ( 35,289,368 ) ( 35,196,581 ) Total stockholder's equity ( 1,202,648 ) ( 1,109,861 ) TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT $ 3,686 $ 4,520 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Groove Botanicals, Inc. Unaudited Condensed Consolidated Statements of Operations For the Three Months Ended June 30, 2025 2024 Expenses: Selling, General and Administrative Expenses $ 18,965 $ 16,599 Rent 3,600 4,644 Legal and Professional Expenses 15,605 14,546 Consulting Expense — 750 Total operating expenses 38,170 36,539 Operating loss ( 38,170 ) ( 36,539 Net (loss) $ ( 38,170 ) $ ( 36,539 Dividend on Preferred Stock ( 54,617 ) ( 54,617 Net (loss) attributable to

financial statements

financial statements. 6 GROOVE BOTANICALS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED JUNE 30, 2025 AND 2024 (Unaudited) NOTE 1 – ORGANIZATION AND OPERATIONS Current Operations Groove Botanicals, Inc. (the "Company"), (formerly known as Avalon Oil & Gas, Inc.), was originally incorporated in Colorado on April 25, 1991, under the name Snow Runner (USA), Inc. The Company was the general partner of Snow Runner (USA) Ltd.; a Colorado limited partnership to sell proprietary snow skates under the name "Sled Dogs" which was dissolved in August 1992. In late 1993, the Company relocated its operations to Minnesota and in January 1994 changed our name to Snow Runner, Inc. In November 1994 we changed our name to the Sled Dogs Company. On May 25, 1999, we filed articles of merger with Xdogs.com Inc., changing our state of domicile to Nevada. On June 22, 2005, the Corporation changed our name from XDOGS.com, Inc. to Avalon Oil and Gas, Inc. On May 14, 2018, the Corporation changed our name from Avalon Oil and Gas, Inc., to Groove Botanicals, Inc. Until August 2, 2021, when we filed a 15-12B to suspend duty to file reports under sections 13 and 15(d) of the securities exchange act of 1934, we were a reporting company. Subsequently, on September 14, 2023, we filed a Form 10 with the Securities and Exchange Commission, which became effective 60 days later. Since inception we have operated unsuccessfully, in various different industries. Currently, we plan to assemble a portfolio of early-stage EV Battery Technologies developed from Universities in Norway, Sweden and Finland, and seek grants from the State of Minnesota Department of Economic Development to find and identify corporate partners to commercialize these technologies and ultimately produce revenues for the Company. The Company does not currently own any patents or technologies related to the EV battery industry, and the process to acquire patents and technologies c

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This Quarterly Report on Form 10-Q contains predictions, estimates and other forward-looking statements relating to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "intends," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors including the risks set forth in the section entitled "Risk Factors" in our registration statement on Form 10-12G/A, as filed with the Securities and Exchange Commission (the "SEC") on November 6, 2023, that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.

Forward-looking statements represent our management's

Forward-looking statements represent our management's beliefs and assumptions only as of the date of this Report. You should read this Report with the understanding that our actual future results may be materially different from what we expect. All forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they are made, except as required by federal securities and any other applicable law. The management's discussion and analysis of our financial condition and results of operations are based upon our consolidated unaudited financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The following discussion of our financial condition and results of operations should be read in conjunction with the notes to the consolidated unaudited financial statements appearing elsewhere in this Report and the Company's audited financial statements for the fiscal year ended March 31, 2025, as filed with the SEC in its Annual Report on Form 10-K on July 16, 2025, and its Amendment No. 1 on Form 10-K/A on August 14, 2025, along with the accompanying notes. As used in this Quarterly Report, the terms "we," "us," "our" and the "Company" means Groove Botanicals, Inc. The Company relies

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