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by Stockwatch Business Reporter

The TSX Venture Exchange lost 6.81 points to 519.30 Tuesday. In the midst of this unhappiness, Scott Hayduk's halted NEX shell, Tilting Capital Corp. (TLL), has sold $399,000 of convertible debentures. The subscribers include Robert Cross's Paloduro Investments Inc., which bought $99,000 of the debentures. Mr. Cross is the shell's largest shareholder with 2.64 million shares or 12.8 per cent. (He is neither a director nor an officer.)

Tilting Capital used the proceeds to provide a partial bridge loan to its qualifying transaction target, ArcScan Inc. This is another medical deal. To acquire ArcScan, the shell will issue 61,432,774 shares at 15 cents to the shareholders of ArcScan, then change its name to ArcScan Medical Imaging Inc. The target is a medical imaging technology company in Colorado that is developing the ArcScan Insight 100, an eye scanner that will be marketed to ophthalmologists, better known as eye doctors. For now, the product is still in the testing phase and has not yet received U.S. Food and Drug Administration approval. ArcScan has built three units of Insight 100 and plans to build six more, for use in clinical trials. To help it along, Tilting Capital has agreed to provide a bridge loan of up to $650,000. It expects to sell up to $301,000 more of its convertible debentures. In a separate financing, the shell has also sold $250,000 (U.S.) of shares to unnamed buyers.

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