GridAI Technologies Corp. GRDX
GridAI Technologies Corp., formerly known as Entero Therapeutics, Inc., is a diversified technology and life sciences company operating through two principal areas: (i) energy orchestration and grid optimization software solutions through our subsidiary Grid AI Corp. and (ii) legacy biopharmaceutical development activities centered on Adrulipase for the treatment of exocrine pancreatic insufficiency. Effective December 1, 2025, the Company changed its name from "Entero Therapeutics, Inc." to "GridAI Technologies Corp." and changed its Nasdaq trading symbol from "ENTO" to "GRDX."
On September 30, 2025, the Company completed a share exchange transaction pursuant to which it acquired 100% of the outstanding equity interests of Grid AI Corp., a Nevada corporation. At the time of the acquisition, Grid AI Corp. owned 75% of the issued and outstanding equity interests of AMPX UK Holdings, a Cayman Islands company, which holds the operating subsidiary AMPX Limited. Following the transaction, Grid AI Corp. and its subsidiaries, including AMPX, became consolidated subsidiaries of the Company.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.3K | — | — | — | — | — | $0 | $0 | — | — |
| Cost of revenue | $693.7K | — | — | — | — | — | — | — | — | — |
| Gross profit | -$657.4K | — | — | — | — | — | — | — | — | — |
| R&D | $925.5K | $903.9K | $5.0M | $8.8M | $17.0M | $5.9M | $8.7M | $5.8M | $2.4M | $2.5M |
| SG&A | $5.5M | $14.7M | $10.7M | $12.0M | $18.4M | $7.3M | $6.1M | $7.5M | $7.7M | $4.1M |
| Total operating expenses | $6.4M | $15.6M | $15.8M | $12.7M | $59.1M | $26.4M | $14.7M | $13.4M | — | — |
| Operating income | -$7.1M | -$15.6M | -$15.8M | -$12.7M | -$59.1M | -$26.4M | -$14.7M | -$13.4M | -$10.2M | -$6.3M |
| Interest expense | — | — | $22.5K | $15.9K | $11.2K | $5.8M | $433.9K | $101.8K | $875.2K | $5.9M |
| Pre-tax income | -$6.6M | -$15.6M | — | — | -$58.5M | -$32.7M | -$15.2M | — | -$11.1M | -$14.6M |
| Income tax | $398.7K | — | — | — | $0 | $0 | $0 | — | $0 | $0 |
| Net income | -$6.4M | -$18.1M | -$15.8M | -$14.6M | -$58.5M | -$32.7M | -$15.2M | -$13.5M | -$11.1M | -$14.6M |
| EPS, basic | -4.16 | -15.99 | -47.88 | -416.94 | -1,988.53 | -14.68 | — | — | — | — |
| EPS, diluted | -4.16 | -15.99 | -47.88 | -416.94 | -1,988.53 | -14.68 | 22,425,564.00 | 15,439,310.00 | -1.04 | -2.24 |
| Shares, diluted (wtd. avg.) | $1.6M | $1.1M | $336.3K | $35.9K | $42.5K | $2.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $899.8K | $163.5K | $3.7M | $1.4M | $8.2M | $6.1M | $175.8K | — | — | — |
| Short-term investments | — | — | — | — | — | — | — | — | — | $0 |
| Receivables | $30.0K | — | — | $93.0K | $0 | $551.5K | $2.6M | $3.2M | $1.1M | $961.0K |
| Total current assets | $2.6M | $83.5M | $5.0M | $3.4M | $9.4M | $7.9M | $3.4M | $4.8M | $2.0M | $3.0M |
| Property, plant and equipment | — | — | $14.6K | $43.8K | $73.1K | $18.3K | $77.4K | $128.9K | $134.0K | $151.6K |
| Goodwill | $24.1M | $1.7M | $1.7M | $1.7M | $1.9M | $2.1M | $1.9M | $1.9M | $2.0M | $1.8M |
| Other intangibles | $21.8M | $338.4K | — | — | $0 | $2.9M | — | — | — | — |
| Total assets | $48.6M | $85.4M | $6.9M | $5.4M | $11.8M | $12.9M | $8.9M | $7.5M | $5.5M | $6.8M |
| Accounts payable | $3.4M | $3.0M | $554.3K | $720.0K | $2.7M | $1.7M | $1.8M | $2.1M | $1.2M | $1.5M |
| Total current liabilities | $15.2M | $27.5M | $3.1M | $2.5M | $12.3M | $15.5M | $4.3M | $3.0M | $2.5M | $2.3M |
| Total liabilities | $19.7M | $27.6M | $3.3M | $2.7M | $19.6M | $15.6M | $4.3M | $3.0M | $3.8M | $3.5M |
| Retained earnings | -$208.8M | -$202.4M | -$184.3M | -$168.5M | -$153.9M | -$95.4M | -$62.7M | -$47.5M | -$34.0M | -$22.9M |
| Total equity | $24.9M | -$3.9M | $3.6M | $2.7M | -$7.8M | -$2.6M | $4.6M | $4.5M | $1.7M | $3.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5.7M | -$9.2M | -$12.4M | -$22.3M | -$32.3M | -$11.2M | -$14.0M | -$10.9M | -$7.2M | -$4.5M |
| Depreciation and amortisation | $574.7K | $48.9K | $29.3K | $29.0K | $15.0K | $38.0K | $63.1K | $61.9K | $49.5K | $44.3K |
| Stock-based compensation | $734.0K | $631.6K | $1.0M | $769.1K | $1.4M | $522.1K | $574.3K | $1.4M | $609.4K | $0 |
| Capital expenditure | — | — | — | — | $69.5K | $4.2K | $24.1K | $55.5K | $32.2K | $12.4K |
| Investing cash flow | $323.5K | $88.2K | -$500.0K | — | -$10.3M | $87.3K | -$24.1K | -$305.5K | -$32.2K | -$12.4K |
| Financing cash flow | $5.9M | $5.6M | $15.2M | $15.7M | $44.8M | $17.0M | $13.1M | $11.7M | $6.0M | $5.7M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-054106.
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