Recent developments include completion of audits for fiscal years 2021 and 2022, filing of Form 10, retention of PCAOB auditor TAAD, LLP for audits, and an exclusive licensing agreement with CannSol Distribution AG.

• Groove Botanicals completed audits for fiscal 2021 and 2022, filed Form 10, and is embarking on building a technology portfolio [N1].
• The company retained PCAOB auditor TAAD, LLP to perform fiscal year 2020 and 2021 audits [N2].
• Groove Botanicals announced an exclusive licensing agreement with CannSol Distribution AG in December 2020 [N3].

The company’s focus on identifying and licensing early-stage technologies from a concentrated and reputed Norwegian research ecosystem could provide access to innovative applied technologies relevant to North American markets. Recent completion of audits and filing of Form 10 may improve transparency and investor confidence. The exclusive licensing agreement with CannSol Distribution AG demonstrates initial progress in building a technology portfolio [N1][N3][S1].

Groove Botanicals has no current products, technologies, or intellectual property rights and has not secured any formal licensing agreements beyond the one with CannSol Distribution AG. The company has a history of unsuccessful operations in various industries and reports significant current liabilities relative to assets, indicating financial challenges. The highly competitive market and lack of proprietary assets pose risks to successful commercialization and growth [S1].

Groove Botanicals currently lacks proprietary technologies, products, or intellectual property rights, and operates in a highly competitive market with established players possessing greater capital, expertise, and institutional relationships. Its early-stage status and absence of exclusive access to technology pipelines limit any sustainable competitive advantage at this time [S1].

• Early-stage development risk: The company is in an early stage with no current products or proprietary technologies, which increases uncertainty about future success.
• Financial risk: Significant current liabilities relative to current assets and reported net losses indicate financial challenges that may impact operations.
• Competitive risk: The market for technology licensing and commercialization is highly competitive with established players having greater resources and relationships.
• Execution risk: The company has not yet entered into formal licensing agreements with Norwegian research institutions and lacks proprietary access to technology pipelines.

• Groove Botanicals Inc. is an early-stage company focused on identifying and evaluating early-stage intellectual property and applied technologies originating from Norwegian universities, university hospitals, applied research institutions, and related technology-transfer or innovation organizations [S1].
• The company intends to assess whether selected technologies may be suitable for licensing, further development, or commercialization in North America through licensing, strategic relationships, commercial partnerships, or other commercial structures [S1].
• Groove Botanicals has selected Norway as its initial geographic focus due to the concentration of relevant research institutions such as the University of Oslo, Oslo University Hospital, SINTEF, Norwegian University of Science and Technology, and University of Bergen [S1].
• The company currently does not own, license, or control any early-stage technologies or intellectual property rights and has not entered into any licensing agreements or formal arrangements with Norwegian research organizations [S1].
• Groove Botanicals does not currently have any products, technologies, or intellectual property rights and is not undertaking any marketing or sales activities [S1].
• The company has one full-time employee (the President) and a part-time administrative assistant, with consultants and advisors retained as needed [S1].
• Groove Botanicals has operated unsuccessfully in various industries prior to its current focus and intends to change its name to Nordmark Technologies, Inc. to better reflect its corporate focus [S1].
• The market for identifying, licensing, developing, and commercializing early-stage technologies and intellectual property is highly competitive, with competitors including established companies, universities, research institutions, venture funds, and technology-transfer organizations [S1].
• Financial figures are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice [S1].
• As of the fiscal year ended March 31, 2026, the company reported cash and equivalents of $1,494,000 and current assets of $4,432,000, with current liabilities of $1,472,680,000, resulting in a current ratio and cash ratio effectively at zero due to the large liabilities relative to assets [S1].
• The company reported a net loss of $139,917 for the fiscal year ended March 31, 2026, and diluted earnings per share of -$0.01 [S1].
• Groove Botanicals completed audits for fiscal years 2021 and 2022, filed Form 10, and is embarking on building a technology portfolio [N1].
• The company retained PCAOB auditor TAAD, LLP to perform fiscal year 2020 and 2021 audits [N2].
• Groove Botanicals announced an exclusive licensing agreement with CannSol Distribution AG in December 2020 [N3].