Groove Botanicals Q1 FY27 net loss narrows to $21,171; net sales unchanged at no net sales
GRVE•Quarterly results improve, but revenue remains nil
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 remains limited and the company is still early-stage
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.
