GridAI Technologies (GRDX) faces $1.01M default demand after loan maturity

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

GridAI Technologies Corp. reports a default-related demand under its Revolving Loan Agreement. The company’s lender sent a demand letter on April 1, 2026, asserting that the loan matured unpaid on January 31, 2026, and seeking $1,014,675, including $700,000 principal, accrued interest, and a 20% default increase. GridAI is evaluating the impact and is in active discussions with the lender.

Positive

None.

Negative

Loan default and accelerated obligation: The lender delivered a demand letter asserting default under the Revolving Loan Agreement after the January 31, 2026 Maturity Date, seeking payment of $1,014,675, including principal, interest, and a 20% default-related increase, which materially increases near-term financial pressure.

Insights

Loan maturity default triggers lender demand and adds default premiums.

GridAI Technologies Corp. discloses that its Revolving Loan Agreement with 1396974 BC Ltd. reached the January 31, 2026 Maturity Date without repayment. The lender’s counsel then issued an April 1, 2026 demand letter asserting default.

The letter seeks $1,014,675, covering $700,000 principal, interest, and a contractual 20% increase tied to default. This indicates heightened financial pressure, as the entire revolving balance and penalties became immediately payable after maturity.

The company notes it is evaluating the effects of this event and is in active discussions with the lender. Outcomes will depend on any forbearance, amendment, or repayment arrangements the parties may reach, which would likely be described in subsequent company filings.

8-K Event Classification

Item 2.04 — Triggering Events That Accelerate or Increase a Direct Financial Obligation

1 item

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation Financial

An event triggered acceleration or increase of an existing financial obligation, such as a debt covenant breach.

Key Figures

Total demanded amount: $1,014,675 Principal received: $700,000 Default increase: 20% +2 more

5 metrics

Total demanded amount $1,014,675 Amount requested by lender in April 1, 2026 demand letter

Principal received $700,000 Principal amounts advanced to the company under Revolving Loan Agreement

Default increase 20% Contractual increase applied to amounts due upon default

Maturity Date January 31, 2026 Date when all loan amounts became due in full

Demand letter date April 1, 2026 Date lender’s counsel asserted default and demanded payment

Key Terms

Revolving Loan Agreement, Maturity Date, demand letter, Triggering Events That Accelerate or Increase a Direct Financial Obligation, +1 more

5 terms

Revolving Loan Agreement financial

"entered into a Revolving Loan Agreement dated January 27, 2025"

Maturity Date financial

"were due in full on January 31, 2026 (the “Maturity Date”)"

The maturity date is the specific day when a loan, bond, or investment reaches its full term and the borrower must repay the borrowed amount in full. It is important for investors because it indicates when they will receive their initial money back and can plan their future financial steps accordingly. Think of it as the due date for a loan or the day a gift card or coupon expires.

demand letter financial

"the Company received a demand letter from the Lender’s counsel"

Triggering Events That Accelerate or Increase a Direct Financial Obligation regulatory

"Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation"

off-balance sheet arrangement financial

"an Obligation under an Off-Balance Sheet Arrangement"

Understanding 8-K Material Events →

04/24/2026 - 04:04 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 1, 2026

GridAI Technologies Corp.

(Exact name of Registrant as Specified in its Charter)

Delaware		001-37853		46-4993860
(State or other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

777 Yamato Road, Suite 502
Boca Raton, FL 33431

(Address of Principal Executive Offices) (Zip Code)

(561) 589-5444

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		GRDX		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

As previously disclosed on the Current Report on Form 8-K filed with the Securities and Exchange Commission on February 6, 2025, GridAI Technologies Corp. (f/k/a Entero Therapeutics, Inc.) (the “Company”) entered into a Revolving Loan Agreement dated January 27, 2025 (the “Revolving Loan Agreement”), with 1396974 BC Ltd. (the “Lender”) pursuant to which the Lender agreed to make loans to the Company. Under the Revolving Loan Agreement, the outstanding principal balance of all outstanding loans, all accrued and unpaid interest and all other amounts, costs, expenses and/or liquidated damages were due in full on January 31, 2026 (the “Maturity Date”). On April 1, 2026, the Company received a demand letter from the Lender’s counsel, asserting that the Company is in default of the Revolving Loan Agreement as the Maturity Date has passed and the amounts due under the Revolving Loan Agreement have not been repaid, and demanding the Company to pay a total sum of $1,014,675, which includes the principal amounts received by the Company ($700,000), interest and a 20% increase of these amounts due to the default pursuant to the terms of Revolving Loan Agreement. The Company is evaluating the effects of this event and is currently in active discussions with the Lender.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GRIDAI TECHNOLOGIES CORP.

Date: April 24, 2026	By:	/s/ Jason D. Sawyer
	Name:	Jason D. Sawyer
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

FAQ

What event did GridAI Technologies Corp. (GRDX) disclose in this 8-K?

GridAI Technologies disclosed that its lender sent an April 1, 2026 demand letter under a Revolving Loan Agreement, asserting default after the January 31, 2026 maturity and demanding repayment of $1,014,675, including principal, interest, and a contractual 20% increase due to default.

How much does the lender claim GridAI Technologies Corp. owes under the Revolving Loan Agreement?

The lender’s demand letter seeks $1,014,675 from GridAI Technologies Corp. This amount includes $700,000 of principal previously advanced, accrued and unpaid interest, and a 20% increase in these amounts triggered by default terms in the Revolving Loan Agreement.

When did the Revolving Loan Agreement for GridAI Technologies Corp. reach its maturity date?

The Revolving Loan Agreement reached its Maturity Date on January 31, 2026. After that date, all outstanding principal, accrued interest, and related amounts under the facility became due in full according to the agreement’s terms, leading to the lender’s subsequent demand letter.

Who is the lender under GridAI Technologies Corp.’s Revolving Loan Agreement?

The lender under GridAI Technologies Corp.’s Revolving Loan Agreement is 1396974 BC Ltd. This entity provided revolving loans to the company and, through counsel, issued the April 1, 2026 demand letter asserting default and requesting full payment of the claimed outstanding obligation.

How is GridAI Technologies Corp. responding to the lender’s default demand?

GridAI Technologies Corp. states it is evaluating the effects of the default-related demand and is in active discussions with the lender. These discussions may address repayment, amendments, or other arrangements, and any resulting agreements would typically be detailed in future company disclosures.

What principal amount did GridAI Technologies Corp. receive under the Revolving Loan Agreement?

GridAI Technologies Corp. received $700,000 in principal under the Revolving Loan Agreement. This principal, along with accrued interest and a 20% default-related increase, forms part of the lender’s total $1,014,675 demand following the missed January 31, 2026 maturity repayment.

Filing Exhibits & Attachments

3 documents