Statement of Changes in Beneficial Ownership (4)

FORM 4

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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3235-0287

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Kennedy Terry Joe	2. Issuer Name and Ticker or Trading Symbol GROW CAPITAL, INC. [ GRWC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    __X__ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) CEO and President
(Last)          (First)          (Middle) 688 CHILDRENS WAY	3. Date of Earliest Transaction (MM/DD/YYYY) 6/2/2020
(Street) HENDERSON, NV 89052 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	6/2/2020		A		473560.0000	A	$0.0320	1379859.0000	I	Footnote (1)
Common Stock	6/24/2020		P		1200000.0000	A	$0.0500	1200000.0000	I	Footnote (2)
Common Stock	6/24/2020		P		935275.0000	A	$0.0500	935275.0000	I	Footnote (3)
Common Stock	7/13/2020		A		1000000.0000	A	(4)	12479469.0000	D
Common Stock								2334002.0000	I	Footnote (5)
Common Stock								2500000.0000	I	Footnote (6)
Common Stock								4000000.0000	I	Footnote (7)
Common Stock								8300898.0000	I	Footnote (8)
Common Stock								18931410.0000	I	Footnote (9)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:
(1)	Shares owned by AF1 Public Relations LLC, an entity wholly-owned by the Reporting Person's wife. The Reporting Person disclaims beneficial ownership of any securities owned directly or indirectly by the Reporting Person's wife.
(2)	The Reporting Person is sole owner and the manager of Appreciation Rewards, LLC.
(3)	Reflects percentage ownership of PERA, LLC.
(4)	Fully vested shares issued as compensation for the three-month period beginning July 1, 2020.
(5)	The Reporting Person is sole owner and the manager of Journey, Home 4 Teens LLC.
(6)	The Reporting Person is a 50% owner and the manager of Off the Wall, LLC.
(7)	The Reporting Person is a 50% owner and the manager of Racing 123, LLC.
(8)	The Reporting Person is the manager and ultimate beneficial owner of AYG LLC.
(9)	Reflects percentage ownership of Zeake, LLC.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Kennedy Terry Joe 688 CHILDRENS WAY HENDERSON, NV 89052		X	CEO and President

Signatures
/s/ Terry Kennedy		7/16/2020
**Signature of Reporting Person		Date