Tue, Feb 25, 9:55 PM (60 days ago)
Groove Botanicals, Inc. (ticker GRVE) reported on Form 10-Q for the quarter ended December 31, 2024, showing a net loss of $33,031 compared to a prior gain of $13,796. Operating expenses dropped from $55,196 to $33,031, largely due to lower legal and professional fees. For the nine-month period, net losses were $99,404 versus $206,968 previously, with expenses trimmed mainly by reduced consulting and audit fees. Cash at quarter‐end was $1,251K, slightly down from $1,772K, with negative operating cash flow partially offset by $88,892K in related party financing. The report underscores ongoing uncertainties as the company, with no product revenue, pivots toward assembling a portfolio of early-stage EV Battery Technologies. Recurring losses and an accumulated deficit exceeding $35M raise significant going‐concern doubts, while future operations depend on securing additional equity or debt financing.