GridAI Technologies Corp.

Listed Company

GRDXCIK 0001604191NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$36.3K

Net Income

$-6.39M

Total Assets

—

Equity

—

Shares Out

6.65M

Op. Cash Flow

$-5.70M

Business

GridAI Technologies Corp. is engaged in research and development of targeted, non-systemic therapies for gastrointestinal diseases, currently focused on developing Adrulipase, a recombinant lipase biologic to treat exocrine pancreatic insufficiency in cystic fibrosis and chronic pancreatitis patients. Its main product candidate is Adrulipase, with prior programs Latiglutenase, Capeserod and Niclosamide discontinued or held for disposition. The company’s operations center on preclinical and clinical development, regulatory interactions and outsourced manufacturing via CDMOs. It conducts clinical trials and regulatory activities primarily in the United States and Europe, with global manufacturing partners.

Summary from filing dated 2025-04-01

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
Consolidated Statements of Operations and Comprehensive Loss	—	—
Revenue	36,251	—
Cost of Services	693,683	—
Gross loss	−657,432	—
Operating expenses:	—	—
Research and development expenses	925,482	903,941
General and administrative expenses	6	15
Total operating expenses	6	16
Loss from operations	−7	−16
Other expenses:	—	—
Interest income (expense), net	−490,835	875
Other income (expense), net	934,257	1,378
Total other expenses	443,422	2,253
Loss from continued operations before tax recovery	−7	−16
Income tax benefit	−398,736	—
Loss from continued operations	−6	−16
Loss from discontinued operations, net of tax	−312,298	−2
Net loss	−7	−18
Net loss attributed to non controlling interest	−160,924	—
Net loss attributed to common shareholders	−6	−18
Preferred stock dividend	337,240	240,965
Net loss applicable to common shareholders - basic	−7	−18
Net loss applicable to common shareholders - diluted	−7	−18
Basic weighted average shares outstanding (in shares)	2	1
Diluted weighted average shares outstanding (in shares)	2	1
Loss per share - basic (in dollars per share)	−4.16	−15.99
Loss per share - diluted (in dollars per share)	−4.16	−15.99
Loss per share from discontinued operations, basic	−0.19	−2.13
Loss per share from discontinued operations, diluted	−0.19	−2.13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
Consolidated Balance Sheets	—	—
ASSETS	—	—
Current Assets:	—	—
Cash and cash equivalents	899,784	163,476
Trade receivable	29,974	—
Prepaid expenses	110,934	145,319
Assets of disposal group held-for-sale	—	83
Other receivables	1	—
Other current assets	246,134	—
Total Current Assets	3	83
Other Assets:	—	—
Restricted cash	—	21,516
Intangible assets, net	22	—
Goodwill	24	2
Operating lease right-of-use assets	—	126,753
Deposits	—	98,251
Total Other Assets	46	2
Total Assets	49	85
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	—	—
Current Liabilities:	—	—
Accounts payable	3	3
Accrued expenses	1	252,048
Accrued dividend payable	2	1
Deferred consideration	6	—
Notes payable	2	—
Operating lease liabilities - current	135,609	81,510
Liabilities held-for-sale	—	23
Other current liabilities	282,382	1,236
Total Current Liabilities	15	28
Deferred tax liability	5	—
Operating lease liabilities - non-current	—	59,024
Total Liabilities	20	28
Mezzanine Equity:	—	—
Total Mezzanine Equity	4	62
Stockholders' Equity (Deficit):	—	—
Preferred stock	4	0
Common stock - Par value $0.0001 per share; 100,000,000 shares authorized; 4,224,145 and 1,584,650 shares issued and outstanding at December 31, 2025 and 2024, respectively.	422	159
Additional paid-in capital	229	199
Accumulated deficit	−209	−202
Non-controlling interest	5	—
Cumulative translation adjustment	38,996	—
Total Stockholders' Equity (Deficit)	25	−4
Total Liabilities, Mezzanine Equity and Stockholders' Equity (Deficit)	49	85

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
Consolidated Statements of Cash Flows	—	—
Cash flows from operating activities:	—	—
Net loss	−7	−18
Adjustments to reconcile net loss to net cash used in operating activities:	—	—
Depreciation and amortization	574,713	48,946
Debt amortization	366,255	5,848
Change in right-of-use assets	17,994	72,919
Loss on termination of lease	−108,759	—
Stock-based compensation	733,950	631,555
Common stock issued to consultants	—	2
Common stock issued to financial advisors at acquisition	—	120,648
Series G convertible preferred stock	—	4
Gain from IMGX rescission	−606,685	—
Changes in operating assets and liabilities:	—	—
Trade receivable	−7,295	—
Other receivables	1	—
Prepaid expenses and other current assets	−45,473	−1
Lease liabilities	−4,925	−77,137
Deposits	−98,251	87,001
Accounts payable	464,200	2
Accrued expenses	−93,127	−160,282
Deferred tax liability	−418,635	—
Other liabilities	757,857	109,401
Net cash used in operating activities	−6	−9
Cash flows from investing activities:	—	—
Cash acquired in acquisition of Grid AI	323,482	—
Payment related to license agreement	—	−88,169
Net cash provided by investing activities	323,482	88,169
Cash flows from financing activities:	—	—
Proceeds from issuance of common stock, pre-funded warrants and warrants, net of offering costs	3	4
Proceeds from the issuance of common stock in connection with the exercise of warrants from inducement offerings, net of offering costs	—	2
Proceeds from subscription receivable	447,935	—
Proceeds from promissory notes	2	—
Proceeds from exercise of pre - funded warrants	—	45
Proceeds from warrants exercise	166,448	—
Repayment of note payable	—	644,582
Payments of acquisition consideration	750,000	—
Proceeds from revolving credit borrowing	700,000	—
Net cash provided by financing activities	6	6
Effect of exchange rate changes on cash	204,751	—
(Decrease) increase in cash and cash equivalents	714,792	−4
Cash, cash equivalents and restricted cash, ending balance	—	—
Cash, cash equivalents and restricted cash, ending balance	—	—
Supplemental disclosures of cash flow information:	—	—
Cash paid for interest	—	36,165
Non-cash investing and financing activities:	—	—
Fair value of common shares issued in the IMGX acquisition, net of cash	—	−152,331
Fair value of Series G preferred stock issued in the IMGX acquisition	—	−58
Fair value of options assumed in the IMGX acquisition	—	−1
Fair value of warrants assumed in the IMGX acquisition	—	−789,000
Accrued dividends on preferred stock	—	—
Warrants granted with promissory	1	—
Promissory notes settled for warrants exercise	608,220	—
Tangible and intangible assets acquired, net of cash	22	67
Liabilities assumed	9	25
Goodwill	—	—
Total assets removed due to IMGX rescission	−83	—
Total liability removed due to IMGX rescission	24	—
Total equity cancelled due to IMGX rescission	58	—
Total assets acquired in GridAI acquisition	850,108	—
Total shares issued from GridAI business acquisition	—	—
Noncontolling interest acquired in GriAI business acquisition	−5	—

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