Groove Botanicals Inc. Changes Certifying Accountant
Ticker: GRVE · Form: 8-K · Filed: Jun 26, 2024 · CIK: 918573
Sentiment: neutral
Topics: auditor-change, corporate-governance
TL;DR
Groove Botanicals swapped accountants, could be nothing, could be something.
AI Summary
Groove Botanicals Inc. filed an 8-K on June 26, 2024, reporting a change in its certifying accountant. The company, formerly known as Avalon Oil & Gas, Inc., has appointed a new independent registered public accounting firm.
Why It Matters
A change in auditor can signal shifts in a company's financial reporting or internal controls, potentially impacting investor confidence.
Risk Assessment
Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial irregularities or a change in business strategy.
Key Players & Entities
- Groove Botanicals Inc. (company) — Registrant
- Avalon Oil & Gas, Inc. (company) — Former Company Name
- June 13, 2024 (date) — Earliest event reported
- June 26, 2024 (date) — Filing Date
FAQ
What is the primary reason for the change in Groove Botanicals Inc.'s certifying accountant?
The filing does not explicitly state the reason for the change in certifying accountant, only that a change has occurred.
When was the change in certifying accountant effective?
The filing indicates the date of the earliest event reported is June 13, 2024, and the filing date is June 26, 2024, suggesting the change became effective around June 13, 2024.
Has Groove Botanicals Inc. had any disagreements with its former accountant?
The provided excerpt of the 8-K filing does not contain information regarding any disagreements with the former accountant.
What was Groove Botanicals Inc. formerly known as?
Groove Botanicals Inc. was formerly known as Avalon Oil & Gas, Inc.
What is the Commission File Number for Groove Botanicals Inc.?
The Commission File Number for Groove Botanicals Inc. is 000-23476.
Filing Stats: 554 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-06-26 15:39:24
Filing Documents
- eps11340_grve.htm (8-K) — 23KB
- 0001171520-24-000234.txt ( ) — 190KB
- grve-20240613.xsd (EX-101.SCH) — 3KB
- grve-20240613_lab.xml (EX-101.LAB) — 33KB
- grve-20240613_pre.xml (EX-101.PRE) — 22KB
- eps11340_grve_htm.xml (XML) — 3KB
01 CHANGES IN REGISTRANT'S
ITEM 4.01 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT On June 13, 2024, the Board of Directors of Groove Botanicals Inc. (the "Company") approved the appointment of M.S. Madhava Rao, Chartered Accountant ("Rao") as the Company's new independent registered public accounting firm, effective immediately, to perform independent review and audit services for the fiscal years ending March 31, 2024 and 2023. During the fiscal years ended March 31, 2024 and 2023 and through June 13, 2024, date of engagement, neither the Company, nor anyone on its behalf, consulted Rao regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements of the Company, and no written report or oral advice was provided to the Company by Rao that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a "disagreement" (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K). 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits. Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Groove Botanicals Inc. (Registrant) Date: June 26, 2024 /s/ Kent Rodriguez (Signature) Name: Kent Rodriguez Title: Chief Executive Officer