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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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)__X__ 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)
10/1/2020
(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  10/1/2020    A    70356.0000 (1) A  (1) 744330.0000  D 
 
Common Stock                 1135819.0000  I  Footnote (2)
Common Stock                 1818772.0000  I  Footnote (3)
Common Stock                 1857824.0000  I  Footnote (4)
Common Stock                 935819.0000  I  Footnote (5)
Common Stock                 467909.0000  I  Footnote (6)
Common Stock                 116701.0000  I  Footnote (7)
Common Stock                 125000.0000  I  Footnote (8)
Common Stock                 60000.0000  I  Footnote (9)
Common Stock                 68993.0000  I  Footnote (10)

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)  Fully vested shares issued as compensation for the 4th quarter of 2020 service.
(2)  The reporting person is a 50% owner and the manager of Racing 123, LLC.
(3)  The reporting person is the manager and ultimate beneficial owner of AYG LLC.
(4)  Reflects percentage ownership of Zeake, LLC.
(5)  The reporting person is the manager of King Ship, LLC.
(6)  The reporting person is the manager of Virtual Marketing Associates, LLC.
(7)  The reporting person is the sole owner and the manager of Journey, Home 4 Teens, LLC.
(8)  The reporting person is a 50% owner and the manager of Off the Wall, LLC.
(9)  The reporting person is the sole owner and the manager of Appreciation Rewards, LLC.
(10)  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.

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

Signatures
/s/ Terry Kennedy 10/14/2020
**Signature of Reporting Person Date
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