$GRDX

GridAI Technologies Corp.

CIK:0001604191|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Condensed Consolidated Statements of Operations and Comprehensive Income
Revenue	$ 85,876		$ 124,084
Cost of services	122,390		774,338
Gross loss	(36,514)		(650,254)
Operating expenses:
Research and development expenses	8,424	$ 10,631	639,804	$ 26,458
Goodwill impairment	10,070,124	0	10,070,124	0
General and administrative expenses	2,991,698	628,233	5,361,076	1,433,791
Total operating expenses	13,070,246	638,864	16,071,004	1,460,249
Loss from operations	(13,106,760)	(638,864)	(16,721,258)	(1,460,249)
Other expenses:
Interest income (expense), net	(387,435)	(36,067)	(909,535)	(53,968)
Other income (expense), net	398,443		798,710	(108,818)
Total other income (expense)	11,008	(36,067)	(110,825)	(162,786)
Loss from continuing operations before income taxes	(13,095,752)	(674,931)	(16,832,083)	(1,623,035)
Income tax benefit	55,459	0	353,088
Loss from continuing operations	(13,040,293)	(674,931)	(16,478,995)	(1,623,035)
Loss from discontinued operations net of tax		(323,340)		(634,855)
Net loss	(13,040,293)	(998,271)	(16,478,995)	(2,257,890)
Net loss attributable to non-controlling interests	(221,221)		(334,967)
Preferred stock dividends	(82,165)	(82,165)	(163,427)	(163,428)
Net loss applicable to common shareholders - basic	(12,901,237)	(1,080,436)	(16,307,455)	(2,421,318)
Net loss applicable to common shareholders - diluted	$ (12,901,237)	$ (1,080,436)	$ (16,307,455)	$ (2,421,318)
Weighted average shares outstanding, basic (in shares)	6,419,222	4,765,004	5,796,241	4,765,004
Weighted average shares outstanding, diluted (in shares)	6,419,222	4,765,004	5,796,241	4,765,004
Loss per share, basic (in dollars per share)	$ (2.01)	$ (0.23)	$ (2.81)	$ (0.51)
Loss per share, diluted (in dollars per share)	$ (2.01)	(0.23)	$ (2.81)	(0.51)
Loss per share from discontinued operations, basic (in dollars per share)		(0.07)		(0.13)
Loss per share from discontinued operations, diluted (in dollars per share)		$ (0.07)		$ (0.13)
Comprehensive loss
Net loss	$ (13,040,293)	$ (998,271)	$ (16,478,995)	$ (2,257,890)
Other comprehensive loss - foreign currency translation adjustment	(383,133)		(372,795)
Comprehensive loss	$ (13,423,426)	$ (998,271)	$ (16,851,790)	$ (2,257,890)

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (13,040,293)	$ (998,271)	$ (16,478,995)	$ (2,257,890)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of intangible assets			1,149,426
Amortization of debt discount			688,226
Goodwill impairment	10,070,124	0	10,070,124	0
Stock-based compensation			1,324,750
Change in right-of-use assets				17,994
Impairment of right-of-use assets				108,759
Changes in assets and liabilities:
Trade receivable			(49,604)
Other current assets			937,246
Prepaid expenses			(357,144)	1,160
Lease liabilities				(4,925)
Deposits				49,129
Deferred tax liability			(437,677)
Accounts payable			(860,009)	339,199
Accrued expenses			92,150	163,396
Other current liabilities			83,967
Other operating assets and liabilities, net			545,969	709,665
Net cash used in operating activities			(3,291,571)	(873,513)
Cash flows from financing activities:
Proceeds from issuance of common stock, pre-funded warrants and warrants, net			3,289,983
Repayment of revolving loan principal			(700,000)
Proceeds from promissory notes			999,000	700,000
Proceeds from warrant exercises			555,320
Net cash provided by financing activities			4,144,303	700,000
Effect of exchange rate changes on cash			(372,795)
Net increase (decrease) in cash, cash equivalents and restricted cash			479,937	(173,513)
Cash, cash equivalents and restricted cash, beginning balance			899,784	184,992
Cash, cash equivalents and restricted cash, ending balance	1,379,721	11,479	1,379,721	11,479
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	1,379,721	4,474	1,379,721	4,474
Restricted cash		7,005		7,005
Cash, cash equivalents and restricted cash	1,379,721	11,479	1,379,721	11,479
Non-cash investing and financing activities:
Accrued dividends on Series B preferred stock	$ 163,427	$ 163,428	163,427	$ 163,428
Warrants granted with promissory notes			318,428
Promissory notes settled for warrant exercises			701,780
Shareholder receivable related to warrant exercises			163,500
Subscription receivable related to private placements			4,199,999
Common stock issued in settlement of accounts payable			227,730
Common stock issued in settlement of accrued interest on revolving loan			232,315
Promissory note settled in connection with May 2026 private placement			$ 300,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 1,379,721	$ 899,784
Accounts receivable, net	79,578	29,974
Other current receivables	371,807	1,309,053
Other current assets		246,134
Prepaid expenses	468,078	110,934
Total Current Assets	2,299,184	2,595,879
Other Assets:
Intangible assets, net	20,687,863
Goodwill	14,048,553	24,118,676
Total Other Assets	34,736,416	45,955,964
Total Assets	37,035,600	48,551,843
Current Liabilities:
Accounts payable	2,293,761	3,381,500
Accrued expenses	1,294,661	1,434,826
Accrued dividend payable	1,811,250	1,647,820
Deferred consideration	6,250,000	6,250,000
Notes payable	1,676,361	2,027,184
Operating lease liabilities	135,609	135,609
Income tax payable	130,573
Common stock payable	202,900
Total Current Liabilities	14,145,839	15,159,321
Deferred tax liability	4,121,323	4,559,000
Total Liabilities	18,267,162	19,718,321
Stockholders' Equity:
Common stock - Par value $0.0001 per share; 100,000,000 shares authorized; 6,913,198 and 4,224,146 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively.	691	422
Additional paid-in capital	239,708,042	228,558,107
Shareholder and subscription receivables	(4,363,499)
Accumulated deficit	(224,924,691)	(208,780,662)
Non-controlling interest	4,791,062	5,126,029
Accumulated other comprehensive income (loss)	(333,799)	38,996
Total Stockholders' Equity	14,877,812	24,942,896
Total Liabilities, Mezzanine Equity and Stockholders' Equity	37,035,600	48,551,843
Related Party
Current Liabilities:
Other current liabilities	251,887	267,512
Nonrelated Party
Current Liabilities:
Other current liabilities	98,837	14,870
Developed technology, net
Other Assets:
Intangible assets, net	17,846,025	18,810,675
Customer relations, net
Other Assets:
Intangible assets, net	2,089,813	2,233,938
Trade name
Other Assets:
Intangible assets, net	752,025	792,675
Series G preferred stock
Mezzanine Equity:
Total Mezzanine Equity	3,890,626	3,890,626
Series B preferred stock
Current Liabilities:
Accrued dividend payable	1,800,000	1,600,000
Stockholders' Equity:
Preferred stock
Series C Preferred Stock
Stockholders' Equity:
Preferred stock
Series D Preferred Stock
Stockholders' Equity:
Preferred stock
Series E Preferred Stock
Stockholders' Equity:
Preferred stock
Series F Preferred Stock
Stockholders' Equity:
Preferred stock
Series H Preferred Stock
Stockholders' Equity:
Preferred stock	$ 4	$ 4