secwatch.observer — SEC 8-K summary
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Issuer:     GROOVY COMPANY, INC. (GROO)
CIK:        0001499275
Form:       8-K/A
Filed at:   2026-05-28T19:28:28+00:00
Accession:  0001499275-26-000014
Event type: regulatory
Sentiment:  negative
Materiality: 0.80
Item codes: 4.01, 4.02, 5.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Groovy dismisses auditor after SEC suspension, reduces authorized common 99.5%, two officers depart
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- Dismissed auditor Olayinka Oyebola & Co. after SEC suspension (Aug 2025); prior audit reports included going concern qualification.
- Engaged new auditor Boladale Lawal & Co. on May 10, 2026 for $60K to re-audit FY2024 and audit FY2025.
- Articles amended to reduce authorized common from 20B to 100M shares; preferred restructured into 1.7B shares across three series.
- Chief Legal Officer Jeffrey Turner and VP John Morgan departed May 1, 2026; Turner continues as outside counsel.
- Company acknowledged late filings; quarterly/annual reports filed without audit during auditor gap (Aug 2025–May 2026).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499275/000149927526000014/0001499275-26-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499275/000149927526000014/groo-20250813_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001499275-26-000014

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