GridAI Technologies Corp. — Form 8-K
Filed October 7, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 23/100
What the filing says
GridAI Technologies Corp. (the filer) has issued a Second Amended and Restated Secured Convertible Note to Pronghorn Resources, LLC totaling $3,500,000 in three tranches: $2,000,000 (July 17, 2026), $964,000 (September 4, 2026), and $536,000 (October 1, 2026). The note bears 7% annual interest, matures December 31, 2026 or upon a Change of Control, is secured by Pronghorn's assets, and converts to 10% of Pronghorn's fully diluted equity upon an Event of Default.
Why this rating
At $14.9M market cap, $3.5M loan to third party represents ~23% of firm value but is an asset (receivable), not a liability. Routine venture debt extension with standard terms; no material operational impact on GridAI itself.
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