22 May 2026auditor change▼ Bad
Auditor Madhava Rao resigned without giving a reason; the company engaged GSKCA & Associates as its replacement the same day.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
19 Aug 2025financial restatement▼ BadMajor
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.
26 June 2024auditor change● Neutral
Engaged M.S. Madhava Rao, Chartered Accountant, as its new auditor for fiscal 2023 and 2024.
10 May 2024auditor change▼ BadMajor
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.
29 Aug 2023auditor change● Neutral
Now trading as Groove Botanicals Inc., dismissed auditor TAAD LLP and engaged BF Borgers CPA PC.
14 Aug 2023listing compliance notice▼ Bad
GROOVE BOTANICALS INC. withdrew a registration statement, abandoning the offering it covered.
9 June 2023listing compliance notice▼ Bad
GROOVE BOTANICALS INC. withdrew a registration statement, abandoning the offering it covered.
16 Feb 2023listing compliance notice▼ Bad
GROOVE BOTANICALS INC. withdrew a registration statement, abandoning the offering it covered.
23 Dec 2022listing compliance notice▼ Bad
GROOVE BOTANICALS INC. withdrew a registration statement, abandoning the offering it covered.
2 Aug 2021listing compliance notice▼ BadMajor
GROOVE BOTANICALS INC. terminated the registration of a class of securities, ending its reporting obligation for them.
26 July 2010financial restatement▼ BadMajor
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.
28 Sept 2007auditor change▼ Bad
Auditor Murrell Hall McIntosh resigned for unrelated business reasons; its prior report had flagged going-concern doubt for the fiscal year ended March 2006.
28 Sept 2007drilling progress report▲ Good
The Janssen well began producing gas and condensate, while workovers continued on wells in Arkansas and Louisiana - steady operational progress across the small property portfolio.
28 June 2007drilling progress report▲ Good
Put its 15%-owned Janssen well (Karnes County, Texas) into recompletion via sidetrack drilling and completed a workover on the Gunn well in Arkansas with partner KROG Partners.
4 May 2007asset acquisition disposition▲ GoodMajor
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%.
13 Feb 2007drilling progress report▲ Good
Reported ongoing well workovers in Grant Parish, Louisiana (25% working interest) ahead of a planned acquisition there, with mixed early results.
16 Jan 2007drilling progress report▲ GoodMajor
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.
15 Dec 2006material agreement▲ GoodMajor
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.
7 Apr 2006asset acquisition disposition● Neutral
Signed a letter of intent for a 50% working interest in an established, partly shut-in oil and gas lease in Starr County, Texas (Boyle Field) from Canyon Creek Oil and Gas, a subsidiary of Universal Property Development and Acquisition Corp, with plans for a water-flood recovery project - a more concrete deal than the two that had just collapsed.
13 Feb 2006asset acquisition disposition▼ BadMajor
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.
25 Jan 2006asset acquisition disposition▼ BadMajor
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.
18 Nov 2005auditor change● Neutral
Now renamed Avalon Oil & Gas, dismissed auditor Cordovano and Honeck and engaged Murrell, Hall, McIntosh & Co.; no disagreements were reported.
27 May 2005business combination▲ GoodMajor
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.
18 Feb 2005business combination▲ GoodMajor
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.
25 Nov 2003business combination● Neutral
Pivoted to a new, also non-binding letter of intent to acquire StravinSOFT Incorporated, a Dallas business-software provider, in a 50/50 share exchange - the Kathrine Baumann handbag deal apparently having lapsed.
13 Aug 2003business combination● NeutralMajor
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.