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:  0001393905-24-000131
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Santo Mining Q2 2023 net loss $312K; zero revenue; going concern flagged
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- Revenue $0 for Q2 2023 and six months; net loss $312,507 (Q2) and $588,246 (YTD).
- Accumulated deficit $6.92M; total liabilities $4.79M exceed total assets $340K.
- Going concern warning: no revenue sufficient to cover costs; dependent on additional capital.
- Name changed to Groovy Company, Inc. in Jan 2024; business pivoted to cannabis blockchain platform.
- Cash $35K; convertible note payable net $1.61M; derivative liability $2.18M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499275/000139390524000131/0001393905-24-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499275/000139390524000131/sanp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001393905-24-000131

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