{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-010132","form_type":"8-K","ticker":"GRDX","cik":"0001604191","company_name":"GridAI Technologies Corp.","filed_at":"2025-02-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.164117+00:00","generated_at":"2026-05-27T01:39:41.674276+00:00","sec_items":["1.01","2.03","5.01","5.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Entero Therapeutics enters $2M loan at 18%; lender gains board control, replaces three directors","bullets":["Revolving loan up to $2M from 1396974 BC Ltd.; initial $550K drawn Jan 31, 2025 at 18% interest, due Jan 31, 2026.","Three directors resigned Feb 3 (Ramdeen, Riddell, Sapirstein); three lender nominees appointed (Uppal, Niu, Paolone) giving board majority to lender.","Alson Niu resigned Feb 5; replaced by Eric Corbett as director.","Loan requires best efforts to complete a $5M+ qualified public equity offering; S-1 must be filed within 45 days.","Company must refrain from repaying other debt or making payments >$25k without board approval."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-010132","json":"https://secwatch.observer/filing/0001104659-25-010132.json","markdown":"https://secwatch.observer/filing/0001104659-25-010132.md","text":"https://secwatch.observer/filing/0001104659-25-010132.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/tm255614d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-27T01:39:41.674276+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6a9d73cd0ff124426b76396fb280a432ff674082","claim":"GridAI Technologies Corp. incurred revolving credit of $2,000,000 with 1396974 BC Ltd. at 18% per annum maturing January 31, 2026.","evidence_excerpt":"the Company. Pursuant to and under the terms of the Revolving Loan Agreement, the Company issued to the Lender a revolving note dated January 27, 2025 in the principal amount of $2,000,000 (the “Revolving Note” and such amount, the “Total Outstanding Amount”). This transaction is referred to as the “Financing.” The Company shall use the proceeds from the Financing","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$2,000,000"},{"label":"Counterparty","value":"1396974 BC Ltd."},{"label":"Rate","value":"18% per annum"},{"label":"Maturity","value":"January 31, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"2a9f8a12c1","claim":"Timothy Ramdeen resigned as director at GridAI Technologies Corp..","evidence_excerpt":"On February 3, 2025 (i) each of Timothy Ramdeen, Alastair Riddell and James Sapirstein resigned as directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"48ecc975d8","claim":"Alson Niu was appointed as director at GridAI Technologies Corp..","evidence_excerpt":"the Company’s Board of Directors appointed Manpreet Uppal, Alson Niu and Richard Joel Paolone as directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"514ddccf42","claim":"Manpreet Uppal was appointed as director at GridAI Technologies Corp..","evidence_excerpt":"the Company’s Board of Directors appointed Manpreet Uppal, Alson Niu and Richard Joel Paolone as directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"a8f04968f6","claim":"Richard Joel Paolone was appointed as director at GridAI Technologies Corp..","evidence_excerpt":"the Company’s Board of Directors appointed Manpreet Uppal, Alson Niu and Richard Joel Paolone as directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"d0726fa8d6","claim":"James Sapirstein resigned as director at GridAI Technologies Corp..","evidence_excerpt":"On February 3, 2025 (i) each of Timothy Ramdeen, Alastair Riddell and James Sapirstein resigned as directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"df7a19f31e","claim":"Alastair Riddell resigned as director at GridAI Technologies Corp..","evidence_excerpt":"On February 3, 2025 (i) each of Timothy Ramdeen, Alastair Riddell and James Sapirstein resigned as directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"ab35fa5e6575580d464675e8ca6c0319de951307","claim":"GridAI Technologies Corp. underwent a change of control involving 1396974 BC Ltd..","evidence_excerpt":"Upon the closing of the Financing, the Lender acquired control of the Company by appointing a majority of the Company’s Board of Directors.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm","confidence":0.7,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"1396974 BC Ltd."}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}