Regional Roundup 1-14-02

East

Tecumseh Holdings Corp. of Edgewater, N.J., is raising $10 million through a private placement of Class C common stock. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised $430,000 from 12 accredited investors. The holding company intends to use the proceeds from the offering for working capital, construction of office facilities and the purchase, rental and installation of machinery and equipment.

eMoney Advisor of Paoli, Pa., is raising $5 million through a private placement of Series A preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised slightly more than $3.9 million from seven accredited investors. The provider of collaborative tools and group-ware services via the Internet intends to use the proceeds from the offering for the repayment of indebtedness and the acquisition of other businesses.

ALM Turbine Inc. of Washington is raising $4.75 million through a private placement of convertible preferred stock. A minimum investment of $5,000 is required. Republic Equities of America Ltd. is acting as the agent on the placement for a sales commission of $475,000. At the time of its SEC filing, the company had already raised $82,500 from six investors. The gas recuperator research and development company intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

Phylogix Inc. of Scarborough, Maine, is raising $2.95 million through a private placement of preferred stock. A minimum investment of $25,000 is required. At the time of its SEC filing, the company had already raised about $2.77 million from four investors. The biochemical research and development company intends to use the proceeds from the offering for working capital.

Canterbury Securities Holdings Inc. of Huntington, N.Y., is raising $3 million through a private placement of common stock. A minimum investment of $50,000 is required. At the time of its SEC filing, the company had already raised about $770,000 from four investors. The securities brokerage firm intends to use the proceeds from the offering for working capital, net capital requirements and administration expenses.

Nisus Inc. of Middletown, Pa., is raising approximately $1.7 million through a private placement of Series A preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised about $441,049 from 12 accredited investors. The wireless applications and e-commerce service provider intends to use the proceeds from the offering for working capital.

OnQ Technologies Inc. of Middletown, Pa., is raising $1.5 million through a private placement of common stock. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised about $10,000 from one accredited investor. The manufacturer and provider of home networking infrastructure intends to use the proceeds from the offering for working capital.

Performance Indicator of Middleton, Mass., is raising approximately $1.25 million from 12 accredited investors through the issuance and sale of Series E and Series C-1 participating preferred stock. A minimum investment of $25,000 is required. At the time of its SEC filing, the company had already raised about $25,000 from one accredited investor. The company, which develops, markets and licenses proprietary consumer indication technologies related to the golf industry, intends to use proceeds from the offering for working capital and the acquisition of other businesses.

I-trax Inc. of Philadelphia is raising $1 million through a private placement of common stock. No minimum investment is required. LH Ross & Co. Inc. of Florida is acting as the agent on the placement for a sales commission of $29,550. At the time of its SEC filing, the company had already raised about $289,100 from nine accredited investors. The health management solutions company intends to use the proceeds from the offering for working capital.

Artemis International Solutions Corp. of Whitestone, N.Y., has raised approximately $10.04 million from one accredited investor through a private placement of common stock. No minimum investment was required. The provider of e-business software intends to use the proceeds from the offering for the acquisition of other businesses.

FlashPoint Technology Inc. of Peterborough, N.H., has raised approximately $9.25 million from 46 accredited investors through the issuance and sale of convertible securities. No minimum investment was required. The provider of digital imaging technology intends to use the proceeds from the offering for the repayment of indebtedness.

Organogenesis Inc. of Canton, Mass., has raised $3.25 million from three accredited investors through the issuance and sale of common stock including warrants to purchase shares. No minimum investment was required. The designer, developer and manufacturer of medical products intends to use the proceeds from the offering for working capital.

EcomXML Inc. of Langhorne, Pa., has raised approximately $3.54 million from eight accredited investors through the issuance and sale of Series B preferred stock and common stock. No minimum investment was required. The developer of business-to-business software applications intends to use the proceeds from the offering for working capital.

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South

Spatial Communications Technologies Inc. of Richardson, Texas, is raising approximately $12.7 million through the issuance and sale of preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised about $10.15 million from 10 accredited investors. The wireless communications firm intends to use the proceeds from the offering for working capital.

Channelogics Inc. of Atlanta is raising $9 million through an issuance and sale of convertible securities. No minimum investment is required. At the time of its SEC filing, the company had already raised about $4 million from four accredited investors. The provider of bandwidth management for service providers intends to use the proceeds from the offering for working capital.

PienGen Biomedical Corp. of Knoxville, Tenn., is raising $5 million through an issuance and sale of common stock. A minimum investment of $50,000 is required. The developer and marketer of human enzyme products propagated in animals through transgenic engineering intends to use proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, construction or leasing of plant buildings and facilities, working capital and the repayment of indebtedness.

Seventh Wave Technology Inc. of Alpharetta, Ga., is raising $1 million through an issuance and sale of Series B preferred stock. A minimum investment of $2,333 is required. At the time of its SEC filing, the company had already raised about $333,333 from 13 accredited investors. The provider of remote basis support for SAP R/3 intends to use the proceeds from the offering for the repayment of indebtedness and working capital.

BenefitMall Inc. of Dallas has raised $5 million from two accredited investors through an issuance and sale of Series F preferred stock, common stock and options. No minimum investment was required. The Internet-centric small group insurance distribution company intends to use the proceeds from the offering for working capital.

Vector Global Services Inc. of Houston has raised $3.5 million from three accredited investors through an issuance and sale of preferred stock. No minimum investment was required. The information technology service provider and value-added reseller intends to use the proceeds from the offering for working capital.

The Motley Fool Inc. of Alexandria, Va., has raised $3.4 million from one accredited investor through the issuance and sale of convertible securities. No minimum investment was required. The financial information business intends to use the proceeds from the offering for working capital.

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Midwest

Apex International Group Ltd. of Shakopee, Minn., is raising approximately $5 million through a private placement of common stock. A minimum investment of $50,000 is required. The company intends to use the proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, working capital, sales and marketing, and research and development.

SKY BioHealth Solutions Inc. of Eden Prairie, Minn., is raising slightly more than $5 million through a private placement of common stock. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised $150,000 from two accredited investors. The biotechnology company intends to use the proceeds from offering for working capital.

WorldView VPN Inc. of Kenilworth, Ill., is raising $5 million through an issuance and sale of Series C convertible preferred stock. A minimum investment of $50,000 is required. At the time of its SEC filing, the company had already raised $150,000 from two accredited investors. The provider of Internet-based software tools and services that enable advertisers to more efficiently manage broadcast commercial production intends to use the proceeds from the offering for working capital.

Toon Art Inc. of Cincinnati is raising approximately $1 million through an issuance and sale of common stock. A minimum investment of $3,597 is required. At the time of its SEC filing, the company had already raised $106,350 from two accredited investors. The designer/producer of lithographs and other graphic art products intends to use the proceeds from the offering for working capital.

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West

Source Precision Medicine Inc. of Boulder, Colo. is raising $10 million through a Series C preferred stock financing. A minimum investment of $10,000 is required. Creation Capital LLC of New York and Advanced Equities Inc. of Chicago are acting as the agents on the placement for finders’ fees of $105,750. At the time of its SEC filing, the company had already raised about $2.09 million from 22 accredited investors. The provider of genomics-based products, databases and services to the therapeutic and patient care industries intends to use the proceeds from the offering for working capital.

iKnowMed Inc. of Berkeley, Calif., is raising $10 million through a Series E preferred stock financing. No minimum investment is required. At the time of its SEC filing, the company had already raised slightly more than $4.86 million from 10 accredited investors. The Internet-based clinical management firm intends to use the proceeds from the offering for working capital.

Bionutrics Inc. of Phoenix is raising $10 million through a common stock financing. A minimum investment of $100,000 is required. The biopharmaceutical company intends to use the proceeds from the offering for the acquisition of other businesses, repayment of indebtedness and working capital.

Ellie Mae Inc. of Pleasanton, Calif., is raising $7.2 million through a Series F preferred stock financing. No minimum investment is required. At the time of its SEC filing, the company had already raised about $2.5 million from 17 accredited investors. The Internet service provider for the mortgage industry intends to use the proceeds from the offering for working capital.

Endonetics Inc. of San Diego is raising $6 million through a Series B convertible preferred stock financing. No minimum investment is required. At the time of its SEC filing, the company had already raised slightly more than $5.44 million from 15 accredited investors. The developer of endoscopic devices intends to use the proceeds from the offering for working capital

Avexus Inc. of San Diego is raising approximately $6 million through a Series A-3 preferred stock financing. No minimum investment is required. ClearCreek Private Equity Partners LLC of San Francisco is acting as the agent on the placement for an undisclosed sales commission. At the time of its SEC filing, the company had already raised approximately $5 million from eight accredited investors. The human clinical trials and healthcare consulting company intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

Solution Center Inc. of Salt Lake City is raising $4 million through a common stock financing. A minimum investment of $4,000 is required. The company, which owns a Web-based management system designed to integrate and simplify the mortgage loan process intends to use the proceeds from the offering for working capital, legal and accounting fees and marketing.

Cohesiant Corp. of Menlo Park, Calif., is raising $4 million through a private placement of Series A preferred stock. A minimum investment of $10,253 is required. At the time of its SEC filing, the company had already raised about $2.31 million from five accredited investors. The software applications business intends to use the proceeds from the offering for working capital, salaries and fees.

Vasconnect Inc. of Walnut Creek, Calif., is raising $3.8 million through an offering of Series B preferred stock and underlying common stock. At the time of its SEC filing, the company had already raised about $2.8 million from four accredited investors. The medical device company intends to use the proceeds from the offering for working capital.

Ceon Corp. of Redwood City, Calif., is raising $3 million through a private placement of convertible securities. No minimum investment is required. At the time of its SEC filing, the company had already raised about $1 million from 14 accredited investors. The provider of software, maintenance and support to broadband service providers intends to use the proceeds from the offering for working capital.

Tradec Inc. of San Jose, Calif., is raising $1.5 million through a private placement of Series A preferred stock. A minimum investment of $50,000 is required. At the time of its SEC filing, the company had already raised about $550,000 from three accredited investors. The supply chain software company intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

BuyerOnline.com Inc. of Bluffdale, Utah, is raising about $1.18 million through a common stock financing. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised slightly more than $725,000 from nine accredited investors. The provider of telecommunications and consumer products and service sales intends to use the proceeds from the offering for working capital and the purchase of consumer accounts.

Ezboard Inc. of San Francisco is raising $1 million through a Series D preferred stock financing. No minimum investment is required. At the time of its SEC filing, the company had already raised slightly more than $529,981.80 from six accredited investors. The Internet/online community application service provider intends to use the proceeds from the offering for working capital, salaries and fees.

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