8-K
filed May 13, 2026, 2:31 PM ET
ticker GROO
CIK 0001499275
other material
confidence high
sentiment negative
materiality 0.95
GROOVY COMPANY, INC. (GROO): auditor change — Groovy Company CEO Abajian exits May 1; accountant dismissed after SEC suspension; authorized common cut to 100M shares
GROOVY COMPANY, INC.
- On Aug 13, 2025, board dismissed Olayinka Oyebola & Co. after SEC suspended firm for fraud; new auditor Boladale Lawal & Co. engaged May 10, 2026.
- CEO Berj Abajian and CLO Jeffrey Turner left May 1, 2026; co-founder Franjose Yglesias named interim CEO and remains CTO.
- Articles of Amendment effective Apr 14, 2026 cut authorized common from 20B to 100M shares and created 3 preferred series totaling 1.7B shares.
- Principal executive offices moved from Fairfield, NJ to Atlanta, GA effective May 1, 2026.
- Former auditor reports contained going-concern doubt; the 8-K is filed delinquently for both accountant change and leadership events.
Key facts
Extracted from this filing and checked against the source text.
Auditor Changes
SEC 8-K Item 4.01/4.02
confidence 0.9
GROOVY COMPANY, INC. dismissed Olayinka Oyebola & Co. (Chartered Accountants) as its auditor.
- Action
- dismissal
- Auditor
- Olayinka Oyebola & Co. (Chartered Accountants)
Exact text from the filing
(a) Dismissal of Previous Independent Registered Public Accounting Firm. On August 13, 2025, the Board of Directors of Groovy Company, Inc.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Franjose Yglesias was appointed as Interim Chief Executive Officer at GROOVY COMPANY, INC..
- Action
- appointed
- Role
- Interim Chief Executive Officer
Exact text from the filing
Effective May 1, 2026, the Company’s Board of Directors appointed Franjose (“Frank”) Yglesias to serve as Interim Chief Executive Officer of the Company, in addition to his continuing roles as Chief Technology Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffrey D. Turner departed as Chief Legal Officer at GROOVY COMPANY, INC..
- Action
- ceased to serve
- Role
- Chief Legal Officer
Exact text from the filing
Effective May 1, 2026, Jeffrey D. Turner ceased to serve as the Company’s Chief Legal Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Berj Abajian departed as Director at GROOVY COMPANY, INC..
- Action
- ceased to serve
- Role
- Director
Exact text from the filing
Effective May 1, 2026, Berj Abajian ceased to serve as the Chief Executive Officer of Groovy Company, Inc. (the “Company”) and as a member of the Company’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Berj Abajian departed as Chief Executive Officer at GROOVY COMPANY, INC..
- Action
- ceased to serve
- Role
- Chief Executive Officer
Exact text from the filing
Effective May 1, 2026, Berj Abajian ceased to serve as the Chief Executive Officer of Groovy Company, Inc. (the “Company”) and as a member of the Company’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
John Morgan departed as Vice President, Issuer Services at GROOVY COMPANY, INC..
- Action
- ceased to serve
- Role
- Vice President, Issuer Services
Exact text from the filing
Effective May 1, 2026, John Morgan ceased to serve as the Company’s Vice President, Issuer Services.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
GROOVY COMPANY, INC.: Reduction of authorized common stock from 20 billion to 100 million shares and restructuring of authorized preferred stock into three series aggregating 1.7 billion shares (effective 2026-04-14).
- Change
- charter amendment
- Effective
- 2026-04-14
Exact text from the filing
The Articles of Amendment effected the following changes to the authorized capital stock of the Company: (1) Reduction of Authorized Common Stock. The total number of shares of common stock of the Company authorized for issuance was reduced from twenty billion (20,000,000,000) shares to one hundred million (100,000,000) shares, in each case at the same par value per share as in effect immediately prior to the Amendment. (2) Restructuring of Authorized Preferred Stock. The authorized preferred stock of the Company was restructured to comprise an aggregate of one billion seven hundred million (1,700,000,000) shares, divided into three series and designated as follows: (A) one billion (1,000,000,000) shares designated as “Preferred Stock, Series S”; (B) five hundred million (500,000,000) shares designated as “Preferred Stock, Series A”; and (C) two hundred million (200,000,000) shares designated as “Preferred Stock, Series B.”
View on SEC.gov
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