Regional Roundup 10-28-02

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East

Enamics Inc. of Stamford, Conn., raised $1.7 million from seven accredited investors through an issuance of convertible debt. A minimum investment of $1,600 was required on the placement. The electronic business consultant intends to use the proceeds from the offering for salaries, fees and working capital. For more information, call Faisal Hogue, president, at 203-356-2185.

BioValve Technologies Inc. of Worcester, Mass., raised $5.4 million from eight accredited investors through a private placement of Series C preferred stock, warrants and bridge notes. The developer of medical devices intends to use the proceeds from the offering for working capital. For more information, call Robert Gonnelli, president, at 617-923-6444.

Cambridge Research & Instrumentation Inc. of Woburn, Mass., raised $1.2 million from 25 accredited investors through a common stock round of financing. The company, which develops and commercializes high performance liquid crystal electro-optical technologies, intends to use the proceeds from the offering for working capital. For more information, call Theodore Les, vice president, at 781-935-9099.

Database Publishing Group Inc. of Cambridge, Mass., raised $200,000 from one accredited investor through a Series A preferred and common stock warrant offering. The publisher of medical research abstracts and journals intends to use the proceeds from the offering for working capital. For more information, call Mark Connors, president and chief executive officer, at 617-621-1390.

Diligent Technologies Corp. of Framingham, Mass., raised $18.2 million from three accredited investors through a private placement of Series A preferred and common stock. The computer and software storage developer intends to use the proceeds from the offering for working capital. For more information, call Paul Morin, executive officer, at 508-620-4764.

Nutron Medical Inc. of Waltham, Mass., raised $600,000 from five accredited investors through a Series A preferred stock round of financing. A minimum investment of $3,026 was required on the placement. The developer of medical devices intends to use the proceeds from the offering for working capital. For more information, call William Bilodeau, vice president, at 781-290-0770.

Biosynexus Inc. of Gaithersburg, Md., raised $11.8 million from 15 accredited investors through a preferred stock round of financing. A minimum investment of $25,000 was required on the placement. The biotech company intends to use the proceeds from the offering for working capital, manufacturing, pre-clinical and clinical testing and technical acquisitions. For more information, call Gerald Fischer, chief president and executive officer, at 301-330-5800.

The Baseball Factory Inc. of Columbia, Md., raised $150,000 from three accredited investors through an issuance of a Series B non-voting common stock. A minimum investment of $25,000 was required on the placement. The provider of marketing and training services for high school baseball and softball players intends to use the proceeds from the offering for working capital. For more information, call Robert Naddelman, president, at 410-715-5080.

HLM Design Inc. of Charlotte, N.C., has filed to raise $3 million through an issuance of a Series A preferred stock. At the time of its SEC filing, the company had already raised $735,000 from three accredited investors. A minimum investment of $50,000 is required on the placement. Roger Decort of Paradise Valley, Ariz., is acting as an agent on the placement for $180,000 in sales commission. The company, engaged in management consulting for architectural, engineering and planning firms, intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Vernon Brannon, chief financial officer, at 704-358-0779.

ONG B Inc. of Hackensack, N.J., has filed to raise $100,000 through an offering of common stock. At the time of its SEC filing, the company had already raised $57,650 from 35 non-accredited investors. The manufacturing company intends to use the proceeds from the offering for licensing, technology, sales and marketing. For more information, call Lee Williamson, president, at 201-655-6049.

Eko Systems Inc. of Fairfax, Va., raised $1 million from six accredited investors through a private offering of convertible notes with warrants. The provider of technology-based healthcare management services intends to use the proceeds from the offering for working capital. For more information, call Warren Guillett, chief executive officer, at 703-849-1477.

K12 Inc. of McLean, Va., raised $5.8 million from three accredited investors through a Series B preferred round of financing. The seller of products and services within the education industry intends to use the proceeds from the offering for working capital. For more information, call Ronald Packard, chief executive officer, at 703-748-4005.

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South

Crossover Solutions Inc. of Dallas raised $340,356 from nine accredited investors through a Series A preferred stock round of financing. The sales and marketing consultant for promotional products intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Joel Bines, president, at 214-525-3714.

Treaty Oak Holdings of Austin, Texas has filed to raise $1 million through an offering of preferred stock. At the time of its SEC filing, the company had already raised $562,500 from six accredited investors. The provider of business and financial advisory services intends to use the proceeds from the offering for working capital. For more information, call Sheridan Ernstmeyer, director, at 512-347-0991.

DDS Holdings Inc. of Boca Raton, Fla., has filed to raise $2.5 million through a private placement of common stock. A minimum investment of $25,000 is required on the placement. The company, involved in business related to agricultural technology, intends to use the proceeds from the offering for working capital. For more information, call Ben Marcovitch, president, at 561-251-3555.

Fortune Hotels Inc. of St. Pete Beach, Fla., has filed to raise $5 million through an offering of a Series A and Series B subordinated debt. At the time of its SEC filing, the company had already raised $2.2 million from 27 accredited investors. A minimum investment of $25,000 is required on the placement. The company, which operates through its affiliate resorts in Florida, intends to use the proceeds from the offering for capital improvement. For more information, call Timothy Robert Bogott, president, at 727-562-1244.

Orthopedic Designs Inc. of St. Petersburg, Fla., has filed to raise $6 million through the sale of preferred stock. At the time of its SEC filing, the company had already raised $4.1 million from 83 accredited and 20 non-accredited investors. A minimum investment of $24,000 is required on the placement. Empire Financial Group and Enterprise Capital Partners Inc. of St. Petersburg, are acting as the agents on the placement for $900,000 in sales commission. The manufacturer of orthopedic implant devices intends to use the proceeds from the offering for salaries and fees, construction or leasing of plant buildings and facilities, debt repayment, working capital, product development expenses, manufacturing, marketing, advertising, travel, clinical trials and other legal and accounting costs. For more information, call John Schaber, president, at 727-343-0338.

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Midwest

Northfield Acquisitions Co. of Northfield, Minn., raised $9 million from five accredited investors through a private placement of a Series A preferred stock. A minimum investment of $3 million was required on the placement. The company, which manufacturers and sells connectors, intends to use the proceeds from the offering for acquisition of other businesses. For more information, call Benoit Pouliquen, president and chief executive officer, at 507-663-8000.

Westward Airways Inc. of Scottsbluff, Neb., has filed to raise $600,000 through a common stock and convertible warrant offering. The minimum investment of $20,000 required on the placement can be waived. The regional commercial airline intends to use the proceeds from the offering for working capital. For more information, call Kristi Feusner, president, at 308-220-3838.

HCCA Holdings Inc. of Nashville, Tenn., raised $10.8 million from 15 accredited investors through an a convertible preferred stock round of financing. 2nd Generation Capital of Nashville acted as an agent on the placement. The nursing staff for hospitals intends to use the proceeds from the offering for working capital. For more information, call Ronald Marston, president, at 615-255-7187.

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West

Involve Technology Inc. of Phoenix has filed to raise $3 million through an issuance of common stock. At the time of its SEC filing, the company had already raised $50,000 from one accredited investor. A minimum investment of $50,000 is required on the placement. The developer of computer software intends to use the proceeds from the offering for working capital. For more information, call Lisa Cramer, chief executive officer, at 480-949-5678.

Berkana Wireless Inc. of San Jose, Calif., has filed to raise $10.5 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $9 million from 11 accredited investors. A minimum investment of $10,000 was required on the placement. The provider of silicon solutions for wireless connectivity intends to use the proceeds from the offering for working capital. For more information, call Cormac Conroy, president and chief executive officer, at 408-377-5340.

CardioNow Inc. of Daly City, Calif., has filed to raise $6.5 million through a Series D preferred stock round of financing. At the time of its SEC filing, the company had already raised $4 million from seven accredited investors. The company, engaged in business related to healthcare information technology, intends to use some proceeds from the offering for working capital. For more information, call Grady Floyd, president and chief executive officer, at 650-757-9700.

Data Domain Inc. of Menlo Park, Calif., raised $9 million from five accredited investors through a Series A preferred stock round of financing. The company, engaged in data storage business, intends to use the proceeds from the offering for working capital. For more information, call Kai Li, executive officer, at 650-977-4127.

Dental Connect Inc. of Irvine, Calif., has filed to raise $9 million through an offering of Series A preferred stock. At the time of its SEC filing, the company had already raised $7.5 million from five accredited investors. A minimum investment of $1.5 million is required on the placement. The dental insurance claims processor intends to use the proceeds from the offering for salaries and fees, construction or leasing of plant buildings and facilities, debt repayment and working capital. For more information, call Richard Lee, president and chief executive officer, at 949-852-0825.

Electronic Manuals Inc. of Irvine, Calif., raised $103,000 from six accredited investors through a private placement of common stock. A minimum investment of $5,000 is required on the placement. The company, engaged in online distribution of military, government and commercial user and technical manuals, intends to use the proceeds from the offering for working capital. For more information, call David Gomes, president and chief executive officer, at 949-833-7478.

New 3E Company Acquisition Corp. of Carlsbad, Calif., has filed to raise $9.3 million through a Series A convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $9.1 million from five accredited investors. The company intends to use the proceeds from the offering for working capital. For more information, call Robert Ward, chief financial officer, at 760-602-8787.

Positive Light Inc. of Los Gatos, Calif., has filed to raise $2.1 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $800,000 from four accredited investors. The company, which designs and manufactures solid-state laser systems for industrial and scientific applications, intends to use some proceeds from the offering for working capital. For more information, call Jeremy Weston, president, at 408-399-7744.

Qualigen Inc. of Carlsbad, Calif., has filed to raise $3 million through a common stock round of financing. At the time of its SEC filing, the company had already raised $1.6 million from 117 accredited investors. Miller Johnson Steichen Kinnard Inc., Feltl & Co., and NDX Financial Services, all of Minneapolis, acted as placement agents for $300,000 in sales commission and $90,000 in agent expense allowance. No minimum investment is required on the placement. The developer of diagnostic systems intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Craig Fecker, chief financial officer, at 760-918-9165.

Rivet North America Inc. of Carlsbad, Calif., has filed to raise $250,000 through an issuance of common stock. At the time of its SEC filing, the company had already raised $75,000 from two accredited investors. A minimum investment of $3,500 is required on the placement. The provider of wireless telephone accessories intends to use the proceeds from the offering for salaries and fees, purchase, rental or leasing and installation of machinery and equipment and working capital. For more information, call Eric Baker, president, at 760-804-3595.

Single Touch Interactive Inc. of Carlsbad, Calif., has filed to raise $2.5 million through an offering of common stock. At the time of its SEC filing, the company had already raised $177,500 from seven accredited investors. A minimum investment of $25,000 is required on the placement. For more information, call Anthony Macaluso, chief executive officer, at 760-438-0100.

Targeted Genetics Corp. of Seattle raised $4 million from one accredited investor through a common stock offering. The biopharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Todd Simpson, chief financial officer, at 206-623-7612.

The Code Corp. of Draper, Utah has filed to raise $4 million through a private offering of convertible notes. A minimum investment of $5,000 is required on the placement. The company, involved in manufacturing and marketing of barcode scanning software and hardware, intends to use the proceeds from the offering for working capital, research and development and marketing. For more information, call George Powell, president, at 801-495-2200.

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