Penny StocksTo Watch: GroveWare Tech (GROV)

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GroveWare Technologies GROV On High Alert:


On April 6, 2012, the Company, entered into an Agreement and Plan of Merger (the “Merger Agreement”) with GroveWare Technologies Ltd., a privately held Delaware corporation (“GroveWare”) and ePhoto Acquisition Corp., a Nevada corporation and wholly-owned subsidiary of the Company (“Acquisition Sub”), pursuant to which GroveWare merged with and into Acquisition Sub (the “Merger”) with the filing of the Articles of Merger with the Nevada Secretary of State on April 9, 2012 and became a wholly-owned subsidiary of the Company. In accordance with the terms of the Merger Agreement, at the closing an aggregate of 4,000,000 shares of the Company’s common stock were issued to the holders of GroveWare’s common stock in exchange for their shares of GroveWare. Immediately following the closing of the Merger Agreement, under the terms of an Assignment of Assets Agreement (the “Assignment Agreement”), the Company transferred all of its pre-merger assets and liabilities (the “Split-Off”) to its former officer and director, Yong Feng Sara Yi, and shareholder, Namuun Ganbaatar, in exchange for certain indemnifications, waivers and releases, along with the cancellation of an aggregate of 5,600,000 shares of the Company’s common stock and the cancellation of related party loans in the amount of $39,154.


On May 14, 2012, with the unanimous consent of the board of directors, the Company changed its fiscal year end from April 30 to December 31, the fiscal year end of GroveWare Technologies Ltd., the company acquired by reverse merger on April 6, 2012. In addition, on May 14, 2012 a majority shareholder and the board of directors approved an amendment to the Articles of Incorporation for the purpose of changing the Company’s name to “GroveWare Technologies Ltd.” and to increase the total authorized shares from 100,000,000 to 500,000,000 shares.

Concurrently with the name change and increase in authorized stock described above, the board of directors approved a forward split whereby each shareholder will be issued fifty common shares in exchange for each one common share of their currently issued common stock.

Prior to approval of the forward split the Company had a total of 6,150,000 issued and outstanding shares of common stock, par value $0.001. On the effective date of the forward split, the Company had 307,500,000 issued and outstanding shares of common stock, par value $0.001. The accompanying financial statements have been restated to reflect the forward stock split on a retro-active basis.

Get more info on GROV Stock by visiting:

And Remember to Always:

– Do Your Own Research.
– Trade Responsibly.
– Verify Everything.
– Move Fast or Get Left Behind.
– Do not Use Market Orders to Enter a Position, Use Limit Orders.
– Have a System That fits You.
– If a Stock Gaps Open, Look for Pullbacks to Enter.
– Plan a Trade and Trade a Plan.
– Always Use Stop Loss Orders to Protect Yourself.
– Positive Attitude / Positive Self- Belief.
– Keep Penny Stock Trading as Part of a Balanced life.
– If a Stock Breaks Below Our Alert Price GET OUT. Do not wait.
– View Trading as a Score in Points and Not In Money:
– Always Take Your Profits Whenever You Can. Do Not Be Greedy.
– Work Hard at Learning How to Trade Properly and Keep Working.
– Do Something to make Someone Else’s Life Better Today.

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