GROOVE BOTANICALS INC.

Filed its fiscal 2025 annual report without its auditor's required written consent, making the filing invalid; it corrected this with an amended 10-K weeks later once consent was obtained - a real compliance lapse, not a substantive accounting change.

financial restatement

Dismissed BF Borgers after the SEC permanently barred the firm from auditing public companies over widespread audit-standards failures - part of an industry-wide fallout that forced hundreds of small companies to find new auditors.

auditor change

GROOVE BOTANICALS INC. terminated the registration of a class of securities, ending its reporting obligation for them.

listing compliance notice

Restated its fiscal 2009 financial statements after a ceiling-test write-down calculation on its oil and gas reserves proved incorrect, telling investors not to rely on the previously filed numbers.

financial restatement

Acquired a second technology company from UTEK Corporation - Leak Location Technologies, whose Rensselaer Polytechnic Institute-licensed sound-based leak detection technology finds leaks in underground pipes - pushing UTEK's combined stake in Avalon to 21.8%.

asset acquisition disposition

Acquired a 10% working interest, alongside operator KROG Partners and advisor Anderson Oil & Gas, in a 13-wellbore producing property in Upshur County, Texas, and began production-improvement work on other properties.

drilling progress report

Diversified beyond oilfield assets into technology: acquired Ultrasonic Mitigation Technologies from UTEK Corporation in a stock-for-stock deal, gaining an exclusive University of Wyoming license for ultrasonic paraffin-wax removal from oil wells.

material agreement

A second oil and gas deal also unwound: Avalon returned Oklahoma properties to Sooner Trend Leasing and cancelled the 48 million shares it had issued for them - the same failure-of-consideration pattern as the Mid-Continent deal.

asset acquisition disposition

The Mid-Continent Investments deal fell apart: Mid-Continent never delivered the assignment of the Kansas leasehold it had promised, so Avalon cancelled the 85 million shares it had issued and abandoned the acquisition - the "completed" 2005 deal turns out never to have closed.

asset acquisition disposition

Completed the Mid-Continent Investments acquisition on paper - 85 million shares issued for the Kansas oil and gas leasehold, handing Mid-Continent 51.7% control of the company - though the underlying assets were never actually transferred, as later filings would reveal.

business combination

Pivoted again, to a non-binding letter of intent with Mid-Continent Investments Corporation to acquire an 80% net revenue interest in a Kansas oil and gas leasehold in exchange for 80% of XDOGS' outstanding stock - its first move toward becoming an oil and gas company.

business combination

As XDogs, Inc., signed a non-binding letter of intent to reverse-merge with Kathrine Baumann, LLC, a Beverly Hills designer of luxury handbags, under which Baumann's principal would end up with 75% of the combined company. The deal was never completed in the filings on record; a different merger target appeared weeks later.

business combination