Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) said it has decided to terminate its letter agreement with VCI Global Limited, granting VCI up to a 51% interest in the company's AI platform for 3D modeling.
The termination results from VCI's failure to meet agreed-upon conditions within the specified timelines. Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) will retain its 3D modeling business and focus on building its AI technology stack for scaling 3D modeling.
The company said it sees significant growth potential through partnerships with Amazon and other large enterprise clients.