M&A / Property

Nextech3D.ai Provides Update on Toggle3D.ai

By The Northwire Desk — AI Analysis Nov 07, 2025 · 16:30 TGG · None TRIPLE G SYSTEMS GROUP IN

TGG · Price

NexTech3D.AI announced the termination of its previously signed LOI (dated April 4, 2025) to sell up to an 80% equity interest in its spin‑out subsidiary Toggle3D.ai Inc. to TQG Technologies.
No deposit was received and no shares were transferred; the parties could not agree on a final transaction structure within required timelines.
Toggle remains a pre‑revenue entity, now placed on “care and maintenance” while management preserves cash and evaluates other strategic alternatives.

LOI Termination: The LOI dated April 4, 2025 to sell up to 80% of Toggle3D.ai Inc. (“Toggle”) to TQG Technologies was terminated due to inability to finalize transaction structure within applicable timelines.
Financial Impact: No deposit or consideration was received; no equity transfer occurred.
Toggle Status: Remains a pre‑revenue company that has not achieved expected commercial traction over the past year and continues to incur development and maintenance costs without revenue.
Operational Action: Management placed Toggle on “care and maintenance” to preserve cash resources while seeking alternative opportunities to enhance shareholder value.
Future Updates: NexTech3D.AI will provide additional updates on strategic alternatives for Toggle as they become available.

(No direct quotes were included in the release.)