---
schema_version: "secwatch.filing_event.v1"
accession: "0001499275-26-000007"
form_type: "8-K"
ticker: "GROO"
cik: "0001499275"
company_name: "GROOVY COMPANY, INC."
filed_at: "2026-05-13T18:31:07+00:00"
generated_at: "2026-05-13T18:36:34.712333+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Groovy Company CEO Abajian exits May 1; accountant dismissed after SEC suspension; authorized common cut to 100M shares

## Summary
- 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.

## SEC filing metadata
- accession: 0001499275-26-000007
- form_type: 8-K
- ticker: GROO
- cik: 0001499275
- company_name: GROOVY COMPANY, INC.
- filed_at: 2026-05-13T18:31:07+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 4.01, 4.02, 5.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/groo-20250813_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001499275-26-000007
- JSON: https://secwatch.observer/filing/0001499275-26-000007.json
- Plain text: https://secwatch.observer/filing/0001499275-26-000007.txt

## Source-grounded claims
- claim_id: 177a0bfe6395d0695faf11a7a3002635ba628290
  claim: GROOVY COMPANY, INC. dismissed Olayinka Oyebola & Co. (Chartered Accountants) as its auditor.
  evidence_excerpt: (a) Dismissal of Previous Independent Registered Public Accounting Firm. On August 13, 2025, the Board of Directors of Groovy Company, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm
- claim_id: 0328340ad0
  claim: Franjose Yglesias was appointed as Interim Chief Executive Officer at GROOVY COMPANY, INC..
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm
- claim_id: 5f548d1c08
  claim: Jeffrey D. Turner departed as Chief Legal Officer at GROOVY COMPANY, INC..
  evidence_excerpt: Effective May 1, 2026, Jeffrey D. Turner ceased to serve as the Company’s Chief Legal Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm
- claim_id: 724041ee29
  claim: Berj Abajian departed as Director at GROOVY COMPANY, INC..
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm
- claim_id: 8d09eb05db
  claim: Berj Abajian departed as Chief Executive Officer at GROOVY COMPANY, INC..
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm
- claim_id: ea9b78d025
  claim: John Morgan departed as Vice President, Issuer Services at GROOVY COMPANY, INC..
  evidence_excerpt: Effective May 1, 2026, John Morgan ceased to serve as the Company’s Vice President, Issuer Services.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.