Regional Roundup 11-26-01

East

Paragon Networks International Inc. of Brookfield, Conn., is raising over $14.69 million through a private placement of Series D preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised just about $11.34 million from 26 accredited investors. The developer, manufacturer and marketer of broadband digital integrated access and optical metro internetworking platforms intends to use the proceeds from the offering for working capital.

VIGILANTe.com Inc. of Melville, N.Y., is raising $10 million through a private placement of Series F preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $3.8 million from seven accredited investors. The developer of Internet security systems intends to use the proceeds from the offering for working capital.

FatWire Corp. of Mineola, N.Y., is raising $10 million through a private placement of Series H convertible preferred stock and warrants for the purchase of common stock. At the time of its SEC filing, the company had already raised $9.9 million from 14 accredited investors. The Web content provider intends to use majority of the proceeds from the offering for working capital, research and development, recruiting and training, sales, marketing and promotion.

Roving Software Inc. of Needham, Mass., is raising $6.18 million through a private placement of Series C preferred stock and convertible securities. No minimum investment is required. Saturn Capital Inc. of Boston 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 $5.72 million from 17 accredited investors. The developer of computer software intends to use the proceeds from the offering for working capital.

Hrydrogel Design Systems Inc. of Philadelphia is raising $5.38 million through a private placement of units consisting of one share of Series A preferred stock and two warrants. There is a minimum investment of $49,998 required. KSH Investment Group Inc. of New York is acting as the agent on the placement for a findersĂ­ fee of $472,500. At the time of its SEC filing, the company had already raised just about $9 million from three accredited investors. The developer, manufacturer and marketer of electron beam cross-linker aqueous polymer hydrogels, intends to use the proceeds from the offering for working capital and capital to contribute to a bank subsidiary.

Aesgen Inc. of Princeton, N.J., is raising over $3 million through a private placement of Series D preferred stock. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised approximately $1.22 million from 15 accredited investors. The drug development and delivery company intends to use the proceeds from the offering for, the repayment of indebtedness marketing and working capital.

Charity Planner of Norwalk, Conn., is raising $3.6 million through a private placement of convertible securities. A minimum investment of $25,000 is required. At the time of its SEC filing, the company had already raised approximately $25,000 from one accredited investor. The retailer intends to use the proceeds from the offering for working capital.

PEM Technologies Inc. of Bethesda, Md., is raising $2 million through the issuance and sale of Series A convertible preferred stock. At the time of its SEC filing, the company had already raised approximately $1.77 million from two accredited investors. The developer of medical devices intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, the purchase, rental or leasing and installation of machinery and equipment and working capital.

Optical Systems Inc. of Northport, N.Y., is raising $2 million through a private placement of Series B-1 preferred stock. There is a minimum investment of $25,000 required. At the time of its SEC filing, the company had already raised approximately $100,000 from one accredited investor. The manufacturer and marketer of soda beverages intends to use the proceeds from the offering for working capital, and the purchase, rental or leasing and installation of machines.

Applied Inc. of Huntington, N.Y., is raising $1 million through an issuance and sale of Series A convertible preferred and common stock. A minimum investment of $500,000 is required. At the time of its SEC filing, the company had already raised approximately $90,000 from five accredited investors. The company, which specializes in the marketing of branded apparel, intends to use the proceeds from the offering for working capital and to complete beta testing.

IntraPrise Solutions Inc. of Newton, Pa., is raising $1 million through an issuance common stock and convertible securities. No minimum investment is required. At the time of its SEC filing, the company had already raised approximately $500,000 from one accredited investor. The consulting and software development company dedicated to Web-enabling businesses intends to use the proceeds for invest in other stocks.

Sequel Holding Inc. of Stamford, Conn., raised $10.49 million from four accredited investors through a private placement of Series A convertible preferred stock. There was a minimum investment of $1,497.55 required. The developer of performance management software for e-business infrastructure intends to use the proceeds form the offering for working capital.

Gorilla Wealth Technologies Inc. of New York raised $1.5 million from one accredited investor through a private placement of Series B preferred stock. There was a minimum investment of $1,500 required. The asset management technology firm intends to use the proceeds from the offering for working capital.

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South

Simplexity Inc. of Herndon, Va., is raising $10 million through the issuance and sale of Series D and Series F preferred stock and warrants. No minimum investment is required. At the time of its SEC filing, the company had already raised just about $6.82 million from 18 accredited investors. The Internet telecommunications company intends to use the proceeds from the offering for working capital.

Alchemy Semiconductor Inc. of Austin, Texas, is raising $9.31 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 $7.45 million from seven accredited investors. The fabless semiconductor manufacturer intends to use the proceeds from the offering for the repayment of indebtedness and working capital.

Agari Mediaware Inc. of Herndon, Va., is raising $8.39 million through a private placement of Series B convertible and Series D-1, D-2 preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $5.89 million from three accredited investors. The media management technologies firm intends to use the proceeds from the offering for working capital.

DoUWantIt.com Inc. of Hallandale, Fla., is raising $4.59 million through a private placement of Series C convertible preferred stock and convertible securities. No minimum investment is required. At the time of its SEC filing, the company had already raised just about $3.59 million from 15 accredited investors. The developer of technology designed to enable interactive e-commerce intends to use the proceeds from the offering for the repayment of indebtedness and working capital.

Advanced Reality Inc. of Houston is raising $2 million through a private placement of Series A convertible preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $756,907.45 from 24 accredited investors. The developer of collaborative software applications intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

Electronics Page Solutions Inc. of Atlanta is raising $2 million through a private placement of common stock. No minimum investment is required. Capital Securities of America Inc. of Ohio is acting as the agent on the placement for a sales commissions of $120,000. At the time of its SEC filing, the company had already raised over $15,000 from one accredited investor. The developer of high-speed transformation software that converts traditional mainframe and desktop computer data into electronic pages intends to use the proceeds from the offering for working capital.

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Midwest

First Source Wyoming Inc. of Mt. Pleasant, Mich., is raising $20 million through a private placement of common stock. A minimum investment of $25,000 is required. At the time of its SEC filing, the company had already raised $500,000 from one accredited investor. The oil and gas exploration and development firm intends to use the proceeds from the offering for the purchase of real estate and oil and gas expenses.

Anulex Technologies Inc. of Maple Grove, Minn., raised just about $4.03 million through a private placement of Series A convertible preferred stock. A minimum investment of $25,000 is required. Miller Johnson Steichen Kinnard Inc. of Minnesota is acting as the agent on the placement for a findersĂ­ fee of $250,000. At the time of its SEC filing, the company had already raised just about $971,000 from two accredited investors. The medical device company intends to use the proceeds from the offering for working capital, R&D, and patent prosecution and related matters.

ECNext Inc of Powell, Ohio, is raising just about $5 million through a private placement of Series B2 preferred stock. No minimum investment is required on the placement. At the time of its SEC filing, the company had already raised $2.8 million from 10 accredited investors. The e-commerce services provider to the commercial content industry intends to use the proceeds from the offering for working capital.

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West

New KrauseĂ­s Inc. of Los Angeles is raising $7.5 million through a private placement of Series A preferred stock and convertible securities. There is a minimum investment of $2,500 required. At the time of its SEC filing, the company had already raised just about $472,500 from 17 accredited investors. The company, formed to purchase furniture for the manufacturing and retail business, intends to use the proceeds from the offering for working capital.

Steel Horse Holdings Inc. of Irvine, Calif., is raising $6.75 million through a private placement of preferred stock and convertible securities. There is no minimum investment required. At the time of its SEC filing, the company had already raised just about $2.8 million from one accredited investor. The holding company intends to use the proceeds for the repayment of indebtedness and working capital.

Evolution Robotics Inc. of Pasadena, Calif., is raising just over $5 million through a private placement of Series B convertible preferred stock. A minimum investment of $5,000 is required. At the time of its SEC filing, the company had already raised just about $2.62 million from six accredited investors. The robotics company intends to use the proceeds from the offering for working capital.

Swell Commerce Inc. of San Juan Capistrano, Calif., is raising approximately $5 million through a private placement Series A preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $4.12 million from seven accredited investors. The retailer intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

Passco Real Estate Enterprises Inc. of Santa Ana, Calif., is raising approximately $3.45 million through a private placement of Series B preferred stock. There is a minimum investment of $2441,500 required. Brookfield Financial Securities of California is acting as an agent on the placement for undisclosed fees and commissions. The real estate operating company intends to use the proceeds from the offering for the purchase of real estate.

MD Synergy Inc. of Sherman Oaks, Calif., is raising $3 million through a private placement of Series A convertible preferred stock. A minimum investment of $50,000 is required. At the time of its SEC filing, the company had already raised $3.57 million from 10 accredited investors. The Internet-based solution system intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, the purchase, rental or leasing and installation of machinery and equipment, software development and licensing and working capital.

Arizona Capital Providers Inc. of Phoenix is raising $3 million through a private placement of common stock and warrants. No minimum investment is required. At the time of its SEC filing, the company had already raised $50,000 from one accredited investor. The company, which is engaged in the acquisition of retail photography stores, intends to use the proceeds for working capital.

Certworld Inc. of Kirkland, Wash., is raising $2.53 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 $1.79 million from 44 accredited investors. The Internet applications host intends to use the proceeds from the offering for working capital.

Soltima Inc. of Campbell, Calif., is raising $1.5 million through a private placement of preferred stock and convertible securities. At the time of its SEC filing, the company had already raised $625,000 from three accredited investors. The global provider of wireless infrastructure software and services intends to use the proceeds from the offering for working capital.

Broadstrom Telecommunications Inc. of Bellevue, Wash., is raising $1.5 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 $750,000 from one accredited investor. The broadband wireless company intends to use the proceeds from the offering for working capital.

eNow Inc. of Los Angeles raised $8.05 million from 10 accredited investors through a private placement of Series C preferred stock. No minimum investment was required. The computer software development and manufacturing company, which is engaged in the business of computer software development and manufacturing, intends to use the proceeds from the offering for working capital.

A-Med System Inc. of West Sacramento, Calif., raised $5 million from nine accredited investors through a private placement of Series A preferred stock. No minimum investment was required. The developer and manufacturer of circulatory support systems for use in cardiac surgery intends to use the proceeds from the offering for working capital.

Hierarchical Design Inc. of Santa Clara, Calif., raised $1 million from two accredited investors through the issuance and sale of Series A convertible preferred stock. The company intends to use the proceeds from the offering working capital.

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