---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-124092"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:15:55.405098+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FWBI settles FWB stockholder lawsuit, pays $4.5M cash, extinguishes $12.5M obligations

## Summary
- Paid $1.5M upfront (July 29), $1M second (Sep 9), $2M final (Nov 30); total $4.5M cash to former FWB stockholders.
- Obligation to pay ~$12.5M in fixed payments extinguished upon second payment.
- Former stockholders eligible for milestone payments on adrulipase (pilot study and Phase 3/First Commercial Sale).
- Future sale/license of adrulipase or niclosamide triggers % of Aggregate Consideration to former stockholders, subject to capped total.
- Obligation to develop niclosamide deferred for 24 months from July 29, 2022.

## SEC filing metadata
- accession: 0001104659-22-124092
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604191/000110465922124092/0001104659-22-124092-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465922124092/tm2231867d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-124092
- JSON: https://secwatch.observer/filing/0001104659-22-124092.json
- Plain text: https://secwatch.observer/filing/0001104659-22-124092.txt

## Key facts
- Material Agreements
  GridAI Technologies Corp. entered into Settlement Agreement with Fortis Advisors LLC and certain individuals (effective 2022-11-30).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Fortis Advisors LLC and certain individuals
  - Effective: 2022-11-30
  source text: Effective November 30, 2022, the Company, the Representative and certain individuals entered into a settlement agreement (the “Settlement Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465922124092/0001104659-22-124092-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.