GridAI Technologies Corp. (GRDX): debt financing — GridAI receives loan default demand for $1.01M from lender

GridAI Technologies Corp.

Demand letter received April 1, 2026, asserts default on $700,000 principal under Revolving Loan Agreement.
Total demanded sum of $1,014,675 includes principal, interest, and a 20% default penalty.
Company is evaluating the matter and is in active discussions with the lender.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GridAI Technologies Corp. faced acceleration on revolving credit of $1,014,675 with 1396974 BC Ltd. maturing January 31, 2026.

Instrument: revolving credit
Principal: $1,014,675
Counterparty: 1396974 BC Ltd.
Maturity: January 31, 2026
Event: acceleration

Exact text from the filing

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.

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Source: SEC EDGAR

accession 0001104659-26-048549

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