---
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"
generated_at: "2026-05-27T01:39:41.674276+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Entero Therapeutics enters $2M loan at 18%; lender gains board control, replaces three directors

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 5.01, 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-010132
- JSON: https://secwatch.observer/filing/0001104659-25-010132.json
- Plain text: https://secwatch.observer/filing/0001104659-25-010132.txt

## Key facts
- Debt Financings
  GridAI Technologies Corp. incurred revolving credit of $2,000,000 with 1396974 BC Ltd. at 18% per annum maturing January 31, 2026.
  - Instrument: revolving credit
  - Principal: $2,000,000
  - Counterparty: 1396974 BC Ltd.
  - Rate: 18% per annum
  - Maturity: January 31, 2026
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm
- Executive change
  Timothy Ramdeen resigned as director at GridAI Technologies Corp..
  - Action: resigned
  - Role: director
  source text: On February 3, 2025 (i) each of Timothy Ramdeen, Alastair Riddell and James Sapirstein resigned as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm
- Executive change
  Alson Niu was appointed as director at GridAI Technologies Corp..
  - Action: appointed
  - Role: director
  source text: the Company’s Board of Directors appointed Manpreet Uppal, Alson Niu and Richard Joel Paolone as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm
- Executive change
  Manpreet Uppal was appointed as director at GridAI Technologies Corp..
  - Action: appointed
  - Role: director
  source text: the Company’s Board of Directors appointed Manpreet Uppal, Alson Niu and Richard Joel Paolone as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm
- Executive change
  Richard Joel Paolone was appointed as director at GridAI Technologies Corp..
  - Action: appointed
  - Role: director
  source text: the Company’s Board of Directors appointed Manpreet Uppal, Alson Niu and Richard Joel Paolone as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm
- Executive change
  James Sapirstein resigned as director at GridAI Technologies Corp..
  - Action: resigned
  - Role: director
  source text: On February 3, 2025 (i) each of Timothy Ramdeen, Alastair Riddell and James Sapirstein resigned as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm
- Executive change
  Alastair Riddell resigned as director at GridAI Technologies Corp..
  - Action: resigned
  - Role: director
  source text: On February 3, 2025 (i) each of Timothy Ramdeen, Alastair Riddell and James Sapirstein resigned as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm
- M&A Transactions
  GridAI Technologies Corp. underwent a change of control involving 1396974 BC Ltd..
  - Action: change of control
  - Counterparty: 1396974 BC Ltd.
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1604191/000110465925010132/0001104659-25-010132-index.htm

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