Groove Botanicals Q1 FY27 net loss narrows to $21,171; net sales unchanged at no net sales

Reuters2026/08/11 10:03

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Groove Botanicals posted a GAAP net loss of $21,171 for the quarter ended June 30, 2026, narrowing from a $38,170 loss a year earlier.
Operating loss improved to $28,318 from $38,170, while other income turned positive at $7,147 on a settlement from former auditor BF Borgers CPA PC.
Net loss attributable to common stockholders narrowed to $75,789 from $92,787, as preferred dividends held nearly flat at $54,618.
Cash ended the quarter at $1,494 with a working capital deficit of $1.54 million, including $774,140 payable to the CEO and $710,028 in accrued preferred dividends.
The company reiterated it has no revenue and remains early-stage, targeting Norwegian university-linked technologies while seeking $500,000 to $5 million in capital.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Groove Botanicals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001477932-26-004834), on August 11, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Groove Botanicals Q1 FY27 net loss narrows to $21,171; net sales unchanged at no net sales

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