---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-093483"
form_type: "8-K"
ticker: "GRDX"
cik: "0001604191"
company_name: "GridAI Technologies Corp."
filed_at: "2023-08-18T23:59:59+00:00"
generated_at: "2026-06-11T06:55:53.930776+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Wave BioPharma receives Nasdaq deficiency notice for stockholders' equity below $2.5M

## Summary
- Stockholders' equity of $881,960 as of June 30, 2023, below Nasdaq's $2.5M minimum.
- Company has until Oct 2, 2023 to submit a plan to regain compliance.
- If Nasdaq accepts plan, extension possible until Feb 13, 2024.
- Company intends to submit a compliance plan but no assurance of acceptance.
- Also failed alternative standards: market value $35M or net income $500K requirement.

## SEC filing metadata
- accession: 0001104659-23-093483
- form_type: 8-K
- ticker: GRDX
- cik: 0001604191
- company_name: GridAI Technologies Corp.
- filed_at: 2023-08-18T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604191/000110465923093483/0001104659-23-093483-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604191/000110465923093483/tm2324085-1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-093483
- JSON: https://secwatch.observer/filing/0001104659-23-093483.json
- Plain text: https://secwatch.observer/filing/0001104659-23-093483.txt

## Key facts
- Listing & Compliance Notices
  GridAI Technologies Corp. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5550(b)(1)
  source text: August 17, 2023, First Wave BioPharma, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, under Listing Rule 5550(b)(1), because the Company’s stockholders’ equity of $881,960 as reported in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2023 was below the required minimum of $2.5 million, and because, as of June 30, 2023, the Comp
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465923093483/0001104659-23-093483-index.htm

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