GRDX Gridai Technologies Corp. - 8-K

Item 2.04 Triggering Events That Accelerate or Increase a Direct
Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

As previously disclosed on
the Current Report on Form 8-K filed with the Securities and Exchange Commission on February 6, 2025, GridAI Technologies Corp. (f/k/a
Entero Therapeutics, Inc.) (the “Company”) entered into a Revolving Loan Agreement dated January 27, 2025 (the “Revolving
Loan Agreement”), with 1396974 BC Ltd. (the “Lender”) pursuant to which the Lender agreed to make loans to the Company.
Under the Revolving Loan Agreement, the outstanding principal balance of all outstanding loans, all accrued and unpaid interest and all
other amounts, costs, expenses and/or liquidated damages were due in full on January 31, 2026 (the “Maturity Date”). 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. The Company is evaluating the effects
of this event and is currently in active discussions with the Lender.