{"url_path":"/sec/grdx/8-k/2026-05-20/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-20","source_url":"https://www.sec.gov/Archives/edgar/data/1604191/0001104659-26-064500-index.html","accession_number":"0001104659-26-064500","cik":"0001604191","ticker":"GRDX","issuer_name":"GridAI Technologies Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1604191/0001104659-26-064500-index.html","primary_entity_key":"0001604191","primary_entity_name":"GridAI Technologies Corp."},"word_count":352,"has_tables":true,"body_markdown":"**Item 1.01. Entry into a Material Definitive\nAgreement.**\n\n** **\n\nAs previously disclosed in\nthe Current Report on Form 8-K filed with the Securities and Exchange Commission on February 6, 2025, GridAI Technologies Corp. (f/k/a\nEntero Therapeutics, Inc.) (the “Company”) entered into a Revolving Loan Agreement dated January 27, 2025 (the “Revolving\nLoan Agreement”), with 1396974 BC Ltd. (the “Lender”) pursuant to which the Lender agreed to make loans to the Company.\nUnder the Revolving Loan Agreement, the outstanding principal balance of all outstanding loans, all accrued and unpaid interest and all\nother amounts, costs, expenses and/or liquidated damages were due in full on January 31, 2026 (the “Maturity Date”). As also\npreviously disclosed in the Current Report on Form 8-K filed with the Securities and Exchange Commission on April 24, 2026, on April 1,\n2026, the Company received a demand letter from the Lender, asserting that the Company is in default of the Revolving Loan Agreement as\nthe Maturity Date had passed and the amounts due under the Revolving Loan Agreement have not been repaid, and demanding the Company to\npay a total sum of $1,014,675, which includes the principal amounts received by the Company ($700,000), interest and a 20% increase of\nthese amounts due to the default pursuant to the terms of Revolving Loan Agreement. On May 14, 2026, the Company and the Lender entered\ninto a Debt Settlement and Subscription Agreement (the “Settlement Agreement”) pursuant to which the Company will satisfy\nits obligation to the Lender through (i) a cash payment in the aggregate amount of $800,000, comprised of the principal amount of $700,000\nand accrued interest in the amount of $100,000, and (ii) the issuance of 71,482 shares of the Company’s common stock at a deemed\nprice of $3.25 per share, in satisfaction of remaining accrued interest obligations of $232,315, all in accordance with the terms and\nconditions set forth in the Settlement Agreement.\n\n \n\nThe foregoing description\nof the Settlement Agreement is subject to, and qualified in its entirety by, such document, which is filed as Exhibit 10.1 to this Current\nReport on Form 8-K and incorporated herein by reference"}