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Item 5. Market for Registrant’s Common Equity

2025-08-15 compared with 2014-10-31 · 94 added, 193 removed, 9 unchanged (97% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Principal Market or Markets

with the close of business on June 19, 1997, our Common Stock was delisted from the NASDAQ Small Cap Market.

In June of 1997,

our Common Stock began trading on the NASD Over-the-Counter Bulletin Board ("OTCBB").

Since April 2010 our

Common Stock has traded and continues to trade on the electronic OTCQB and OTCBB market.

Market makers and other dealers

provided bid and ask quotations of our Common Stock.

We trade under the symbol "AOGN".

table below represents the range of high and low bid quotations of our Common Stock as reported during the reporting period herein.

The following bid price market quotations represent prices between dealers and do not include retail markup, markdown, or commissions;

hence, they may not represent actual transactions.

Per Share Common Stock Bid Prices by Quarter For the Two Most

Recent Fiscal Years

Market for Registrant’s Common Equity, Related

Stockholder Matters and Issuer Purchases of Equity Securities.

a) Market Information

Our common stock is currently quoted on OTCMarkets OTCID under

the symbol GRVE.

For the periods indicated, the following table sets forth the high and low bid prices per share of common stock.

below prices represent inter-dealer quotations without retail markup, markdown, or commission and may not necessarily represent actual

transactions.

Quarter ended March 31, 2025

6 unchanged sentences

Quarter ended June 30, 2023

of June 20, 2014, 11,858,062 shares of our Common Stock were outstanding and the number of holders of record of our Common

Stock at that date was approximately 985.

However, we estimate that there are a significantly greater number of shareholders because

a substantial number of our shares are held in nominee names by brokerage firms.

dividends on the Common Stock were paid by us during the fiscal year ended March 31, 2014, or the fiscal year ended 2013, nor

do we anticipate paying dividends on Common Stock in the foreseeable future.

Holders of Common Stock are entitled to receive such

dividends as may be declared by our Board of Directors.

Securities Authorized for Issuance Under Equity Compensation Plans.

have not established an Equity Compensation Plan and have not authorized the issuance of any securities under such plan.

On March 31, 2025, there

are approximately 720 holders of record of our common stock.

Subject to preferences

that may be applicable to any then outstanding preferred stock, the holders of common stock are entitled to receive dividends, if any,

as may be declared from time to time by our board of directors out of legally available funds.

Holders of Series A Stock are entitled

to receive dividends on shares of Series A Preferred equal (on an as-converted to common stock basis) to and in the same form as dividends

actually paid on our common stock.

Series A Preferred Stock holds designations of cash dividends

at the rate of 8% of the amount per share of Series A Preferred Stock per annum in the form of “Preferred Dividends”, voting

rights on an as-converted to Common Stock basis, liquidation preferences, and conversion rights in which each share of Series A Preferred

Stock shall, upon conversion, represent 0.51% of the then “Fully-Diluted Shares Outstanding” of the Company.

On January 12,

2018, our Board of Directors agreed to amend Designation of the Series A Convertible Preferred Stock be amended by changing the ratio

for conversion, in Article IV, subparagraph (a), from 0.4% to 0.51% so that upon conversion the number of shares of common stock to be

exchanged shall equal 51% of then issued and outstanding common stock.

In addition, on January 12, 2018, the Company and the Series A

Holder agreed to forgive all accrued interest to date on the Series A, and to pause any accruals until April 1, 2023.

The Series A Convertible

Preferred Stock carries liquidating preference, over all other classes of stock, equal to the amount paid for the stock plus any unpaid

Currently the value of the liquidation preference is $500,000, the amount of debt that the related party converted into the

preferred stock.

Articles of Incorporation authorize us to issue up to 1,000,000 shares of $0.10 par value preferred stock, with such classes,

series and preferences as our Board of Directors may determine from time to time.

In June 2002, our Board of Directors authorized

the issuance of 100 shares of Series A Convertible Preferred Stock (the "Series A Preferred Stock").

Our Board further

agreed to issue all of the Series A Preferred Stock to our Chairman and President, Kent Rodriguez, in satisfaction of $500,000

in loans made by Mr.

Series A Preferred Stock accrues dividends at the rate of 8% per annum on the original purchase price for the shares.

by the Board of Directors, these dividends are payable quarterly, beginning in September 2002.

We are prohibited from paying any

dividends on our Common Stock until all accrued dividends are paid on our Series A Preferred Stock.

we liquidate or dissolve, and after payment of our debts, the holders of the Series A Preferred Stock are entitled to a preference

payment before we make any distributions to our Common Stockholders.

The preference amount is equal to the original purchase price

for the Series A Preferred shares plus accrued, but unpaid dividends.

Series A Preferred Stock is convertible at any time into 40% of the then outstanding shares of Common Stock and securities convertible

into Common Stock on a fully diluted basis.

However, conversion is limited to the number of shares of Common Stock available for

issuance under our articles of incorporation.

of whether or not the Series A Preferred Stock has been converted to our Common Stock, the Series A Preferred Stockholder is entitled

to vote, at all times, on an as-if converted basis.

The Preferred Stockholder, Mr.

Rodriguez, has the right to vote the Series

A Preferred Stock together with his other holdings in the Company.

March, 2013, our Board of Directors authorized the issuance of 2,000 shares of Series B Preferred Stock (the "Series B Preferred

Stock").

The face amount of share of the Series B Preferred Stock is $1,000.

There are currently 1,300 shares of Series

B Preferred Stock outstanding.

March 14, 2014, we filed an amendment with the Nevada Secretary of State increasing the interest rate on the Series B Preferred

Shares to nine percent (9.00%), effective on April 1, 2014 and changing the payment date to from January 15th of each year to

The next interest payment on the Series B Preferred Stock will be on April 1, 2015.

Series B Preferred Stock accrues dividends at the rate of 9% per annum on the original purchase price for the shares.

declared by the Board of Directors, these dividends are payable annually, beginning in January 2014.

We are prohibited from paying

any dividends on our Common Stock until all accrued dividends are paid on our Series B Preferred Stock.

B Preferred Stock ranks junior to the Series A Preferred Stock owned by our President and Chief Executive Officer, as to Dividends and

to a distribution of assets in the event of a liquidation of assets.

Holders of Series B Preferred Stock do not have any voting rights and their consent is not required to take any sort of corporate

AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

Company does not have any securities authorized for issuance under equity compensation plans.

SALES OF UNREGISTERED SECURITIES

Company sold the following unregistered securities between January 1, 2014 and March 31, 2014:

2014 the Company exchanged 400 share Series B Preferred Stock for $400,000 of notes payable.

2014 the Company exchanged 200 share Series B Preferred Stock for $200,000 of notes payable.

February 2014 we issued 300 Shares of Series B Preferred Stock to an accredited investor for $300,000.

25, 2014 the Company exchanged 2,000,000 shares of Common Stock for 200 shares of Series B Preferred Stock.

March 31, 2014, the Company issued 600,000 shares of common stock for payment of accrued interest of $51,507.

March 31, 2014 the Company issued 1,600,000 shares of common to a consultant, the value of these shares in the amount of

$112,000, or $0.07 per share was charged to operations, and was valued at closing bid price of the Company's common stock on the

date the Consulting Agreement was executed by the Company.

twelve months ended March 31, 2014 and 2013, the Company incurred $24,780 and $-0- in dividends on Series B preferred stock.

other unregistered securities sold by the Company during the past three years, but prior to January 1, 2014, have been included

in the Company's 10-Q filings.

of the unregistered securities sold were issued directly by the Company, and no commissions or fees were paid in connection with

any of these transactions.

The transactions were private, and the Company endeavored to comply both with Regulation D, and also

Section 4(2) of the Securities Act of 1933, as amended, as exemption(s) from registration.

The Company exercised reasonable care

to assure that the purchasers of the securities are not underwriters and were "accredited investors"

under Regulation

D and/or sophisticated investors.

SELECTED FINANCIAL DATA

Not applicable.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

OF OPERATIONS AND PLAN OF OPERATION

following discussion and analysis should be read in conjunction with our financial statements and notes related thereto.

The discussion

of results, causes and trends should not be construed to infer conclusions that such results, causes or trends necessarily will

continue in the future.

the year ended March 31, 2014 compared to the year ended March 31, 2013

for the year ended March 31, 2014 were $156,322, a decrease of $7,252 or approximately 4% compared to revenue of $163,574

for the year ended March 31, 2013.

Revenue from the sale of oil and gas decreased as a result of the decrease in gas production

from the wells in the Grace Field, a decrease in oil production from the wells in Miller County, Arkansas, and a decrease in the

market price of natural gas.

Operating Expenses

the year ending March 31, 2014, our lease operating expenses were $134,033, an increase of $9,131 or approximately 7% compared

to $124,902 for the year ended March 31, 2013.

The increase was due to the workover cost incurred on the Company’s

leasehold in Miller County, Arkansas.

General, and Administrative Expenses

general and administrative expenses for the year ended March 31, 2014 were $602,303 an increase of $65,301 or approximately 12% compared

to selling, general and administrative expenses of $537,002 during the year ended March 31, 2013.

Selling, general

and administrative expenses for 2014 consisted primarily of payroll and related costs of $58,704;

legal and accounting

fees in the amount of $74,051;

facilities costs in the amount of 12,745;

investor relations costs of $14,548;

and entertainment expenses of $65,118;

office expenses of $40,851 and consulting fees in the amount of $262,001;

financing expenses

The increase was due to the increase in financing expenses of $60,000 during the year ended March 31, 2014

compared to $-0- expense incurred in financing expenses for the year ended March 31, 2013.

compensation for the year ended March 31, 2014 was $262,001, an increase of $64,501 or approximately 33% compared to non-cash

compensation of $197,500 for the year ended March 31, 2013.

This increase was the result of more common stock issuances

to outside consultants as payment for services rendered.

Depreciation,

Depletion, and Amortization

Depreciation,

Depletion, and Amortization were $63,046 for the year ended March 31, 2014 a decrease of $13,087 or approximately 17% compared

to $76,133 for the year ended March 31, 2013, due to a slight decrease in the depletion allowance.

on Sale of Property

the year ended March 31, 2014, the Company did not sell any oil and gas properties.

on Settlement of Debt

the year ended March 31, 2014, the Company had a net loss on the settlement of debt in the amount of $57,050.

Expense, net of Interest Income

expense, net of interest income of $91,752 for the year ended March 31, 2014, a decrease of $34,388 or approximately 27% compared

to interest expense, net of $126,140 for the year ended March 31, 2013.

This decrease is due to a reduction in the principal balances

of notes payable during the year.

the reasons stated above, our net loss for the year ended March 31, 2014, was $785,978 an increase of $36,664 or approximately

5% compared to a net loss of $749,314 during the year ended March 31, 2013.

and Capital Resources

Going Concern

March 31, 2014, financial statements have been prepared assuming the Company will continue as a going concern.

However, the Company

has incurred a loss of $30,823,588 from inception through March 31, 2014, and has a working capital deficiency of $275,768 and

stockholders’

equity of $1,212,337, respectively, at March 31, 2014.

The Company currently has minimal revenue generating

operations and expects to incur substantial operating expenses in order to expand its business.

As a result, the Company expects

to incur operating losses for the foreseeable future.

The accompanying consolidated financial statements do not include

any adjustments that might become necessary should the Company be unable to continue as a going concern.

cash and cash equivalents were $223,914 on March 31, 2014, compared to $129,931 on March 31, 2013.

We met our liquidity needs

through the issuance of our common stock, preferred stock, and notes payable for cash and from the revenue derived from our

oil and gas operations.

need to raise additional capital during the fiscal year, but currently have not acquired sufficient additional funding.

ability to continue operations as a going concern is highly dependent upon our ability to obtain immediate additional financing, or

generate revenues from our acquired oil and gas leasehold interest, and to achieve profitability, none of which can be guaranteed.

Unless additional funding is located, it is highly unlikely that we can continue to operate.

There is no assurance that

even with adequate financing or combined operations, we will generate revenues and be profitable.

our success is dependent upon our ability to generate revenues from our acquired oil and gas leasehold interests.

cash used by operating activities for the year ended March 31, 2014 was $381,594, compared to $333,833 used in the year ended

March 31, 2013.

Company had a net loss of $785,978 for the year ended March 31, 2014, compared to a net loss of $749,314 for the year ended March

Net accounts receivable for the year ended March 31, 2014 were $54,226 compared to $52,667 for the year ended

March 31, 2013.

the year ended March 31, 2014 we invested $119,400 for the purchase of the Moody and West Lease, Duval County, Texas.

financing activities for the year ended March 31, 2014 provided cash of $611,200 as compared to $345,000 for the year ended March

We plan to raise additional capital during the coming fiscal year.

Cash generated by financing activities

primarily consisted of $350,000 from the issuance of Series B Preferred Stock and $300,000 from the issuance of Common Stock.

Accounting Policies

consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United

States of America.

As such, we are required to make certain estimates, judgments and assumptions that we believe are reasonable based

on information available.

These estimates and assumptions affect the reporting amounts of assets and liabilities at the date

of the financial statements and the reported amounts of revenues and expenses during the reporting period.

of the significant accounting policies is described in Note 1 to the financial statements.

enacted accounting standards

the year, The Financial Accounting Standards Board (“FASB”) has issued various pronouncements, none of which apply

to the current financial statements.

Sheet Arrangements

have no off-balance sheet arrangements.

have no material commitments during the next twelve (12) months.

of Significant Equipment

the twelve months ended March 31, 2014 and March 31, 2013, we used $0 for the purchase of equipment.

FINANCIAL STATEMENTS.

audited Financial Statements begin on page F-1.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

If this Preferred Stock were to be redeemed by the holder, it would result in an aggregate of the $500,000 liquidation

preference, on a per share basis, this would equal $5,000 per share.

The Company and Series A Preferred Holder agreed to forgive all accrued

interest and arrearages in preferred share dividends of Series A Preferred Stock through March 31, 2023.

Dividends began to accrue on

the Series A Preferred Stock as of April 1, 2023.

During the fiscal year ended March 31, 2025, and 2024, the

holder of the Series A preferred shares accrued $40,000 in preferred dividends from the Series A preferred shares.

A total of $80,000

and $40,000 in dividends was outstanding at March 31, 2025, and March 31, 2024, respectively.

Kent Rodriguez, the Company's CEO,

is the sole holder of the Company's Series A Preferred shares.

Series B Preferred Stock holds designations of being ranked

junior to the Series A Preferred Stock, cash dividends at the rate of 9% of the amount per share of Series B Preferred Stock per annum

in the form of “Preferred Dividends”, a dividend received deduction for federal income tax purposes, liquidation preferences

ranked junior to the Series A Preferred Stock, redemption of the Series B Preferred Stock by the Company at 105% of the Stated Value,

plus accrued and unpaid Dividends, if prior to the two year anniversary of the Issuance Date, or at 100% of the State Value, plus accrued

and unpaid Dividends, if on or after the two year anniversary of the Issuance Date, no voting rights, and right to notice of certain corporate

All accrued dividends on the Series B have been settled through March 31, 2023, and none currently remains outstanding.

began to accrue on the Series B Preferred Stock as of April 1, 2023.

During the fiscal year ended March 31, 2025, and 2024, the

holders of the Series B preferred shares accrued $178,468, in preferred dividends from the Series B preferred shares.

A total of $356,940

and $178,470 in dividends was outstanding at March 31, 2025, and March 31, 2024, respectively to holders of the Series B preferred shares.

Kent Rodriguez, the Company's CEO, holds 18.6% of the Series B preferred shares, providing for dividends annually of $33,195, which

amount is included in the aforementioned outstanding balances payable.

d) Securities Authorized

for Issuance Under Equity Compensation Plans

No equity compensation plan or agreements under which our

common stock is authorized for issuance has been adopted during the fiscal years ended March 31, 2025 and 2024.

We have no equity compensation

plans at this time.

e) Recent Sales of Unregistered Securities

On April 8, 2022, the Company

issued 500,000 shares of common stock, 250,000 each to two separate parties, of which it had previously committed in exchange for $10,000

it had received, $5,000 from each party, received on March 22, 2022.

On April 8, 2022, the Company

issued 2,500,000 shares of common stock, of which it had previously committed in exchange for $40,000 it had received on March 23,

On October 4, 2022, the Company

issued 150,000 shares of common stock in exchange for $3,000 received.

On October 4, 2022, the Company

issued 250,000 shares of common stock in exchange for $4,963 received.

On December 1, 2022, the Company

issued 500,000 shares of common stock in exchange for consulting services.

These shares were issued with an approximate value of $0.0598

per share, based on the fair market value as of their date of issuance.

On December 1, 2022, the Company issued 1,500,000 shares

of common stock to three different parties in the amounts of 1,000,000, 250,000, and 250,000, in exchange for $29,970 received.

On December 1, 2022, the Company

issued 250,000 shares of common stock in exchange for $4,970 received.

On January 31, 2023, the Company

issued 2,750,000 shares of common stock for conversion of debt.

On February 21, 2023, the

Company issued 50,000 shares of common stock for website and social media services.

These shares were issued with a value of $0.08 per

On April 15, 2023, the Company

issued 1,000,000 shares of common stock in exchange for consulting services.

These shares were valued at $0.0783 per shares per their

corresponding consulting agreement.

On December 20, 2023, the

Company issued 1,000,000 shares of common stock in exchange for $20,000 in cash proceeds.

There were no further shares

of common stock issued from December 20, 2023 to March 31, 2025.

f) Purchases of Equity Securities by the Issuer and

Affiliated Purchasers

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K/A

Item 5. Market for Registrant’s Common Equity