secwatch.observer — SEC 8-K summary
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Issuer:     GROOVY COMPANY, INC. (GROO)
CIK:        0001499275
Form:       8-K
Filed at:   2026-05-13T18:31:07+00:00
Accession:  0001499275-26-000007
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 4.01, 4.02, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/0001499275-26-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499275/000149927526000007/groo-20250813_8k.htm
  HTML page:      https://secwatch.observer/filing/0001499275-26-000007

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