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by Stockwatch Business Reporter

The TSX Venture Exchange fell 19.03 points to 518.49 Monday. Scott Hayduk's NEX shell, Tilting Capital Corp. (TLL), will ask shareholders at a Sept. 25 meeting to approve its acquisition of ArcScan Inc., a medical instrument company in Denver.

Tilting Capital will issue 61,432,774 shares at a deemed price of 15 cents a share to the shareholders of ArcScan, after which the shell will change its name to ArcScan Medical Imaging Inc. Of those issuable shares, 36,348,458 shares will go to one man, Allan Brown, an American investor (he will not join the board). ArcScan, formed in early 2007, is developing an ultrasonic arc scanner called the ArcScan Insight 100 device. It is an eye scanner for ophthalmologists to better diagnose patients and plan cataract surgery as well as refractive and glaucoma surgery.

The product does not have FDA clearance and it is not yet available for sale. Next month, ArcScan will begin a repeatability and reproducibility study of eye measurements made by the ArcScan Insight 100 device, which includes comparing similar results from traditional scans used by ophthalmologists before beginning LASIK and other forms of eye surgery. ArcScan hopes to complete the study in December, 2016. The principal investigator listed for the upcoming study is Dr. Dan Reinstein, a practising ophthalmologist and LASIK surgeon at London Vision Clinic in London, England. Dr. Reinstein is also set to become the chief medical officer of Tilting Capital if this transaction closes.

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