GROOVE BOTANICALS INC. 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS During the three month period ended June 30, 2015, The Company issued 125 shares of Series B Preferred Stock, 100 shares to an accredited investor for $100,000 for cash and 25 shares to an accredited investor in exchange of a $25,000 promissory note. During the three month period ended June 30, 2015, The Company issued 950,000 shares of Common Stock, as follows: . We issued 650,000 shares of our common stock, paid $5,000 in cash and issued a $5,000 promissory note to settle an account payable of $280,972.06. The common stock was valued at $.04 per share, and was based on the closing bid price. We issued 300,000 shares of our common stock to our Director’s for services rendered. The 300,000 shares were valued at $0.04 shares or $12,000. The price was based on the closing bid price of the Company’s Common Stock on the date that shares were granted to the Directors. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None. ITEM 4. MINE SAFETY DISCLOSURES N/A