Neurotech International has been approached to sell Mente, its staple Autism device.
The news is buried on p19 of the Prospectus issued today relation to the current $2.5m Placement.
"The Company has received a non-binding expression of interest from a third-party expressing an interest in the acquisition of Mente", directors say.
"The Company has not agreed to sell, and has not made any determination to sell, any interest in Mente to any party.
"The sale of any interest in Mente would be subject to the requirements of the ASX Listing Rules and may be subject to Shareholder approval."
While the future of NTI's Mente ownership may be in some doubt, the group's Prospectus confirms that NTI intends to use some $211k in Placement funds to advance the Mente project.
Directors say the application of Mente neurofeedback and related treatments and therapies extends well beyond children with autism.
"The Company’s aim is to target a broader market, where its offerings would be used to modulate more general behavioural traits such as anxiety, stress, attention and focus thereby increasing the addressable market to include Autism, ADHD and other neurological disorders."
Would shareholders welcome the sale of Mente?
We may learn more at the NTI AGM to be held on Monday, November 30.
NTI Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
