secwatch.observer — SEC 8-K summary
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Issuer:     GROOVY COMPANY, INC. (GROO)
CIK:        0001499275
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0001393905-24-000130
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Santo Mining files Q1 2023 financials: net loss $275.7K, no revenue, going concern.
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- Net loss of $275,739 for Q1 2023 vs net income of $657,589 in Q1 2022; zero revenue both periods.
- Total assets $342,091; total liabilities $4.46M; stockholders' deficit $4.12M.
- Operating expenses fell to $91,056 from $170,080 YoY, but net loss persists.
- Going concern warning: no ongoing revenue source; needs additional capital to continue operations.
- Cash and equivalents only $25,332; derivative liability of $2.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499275/000139390524000130/0001393905-24-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499275/000139390524000130/sanp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001393905-24-000130

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer