Regional Roundup 2-18-02

East

PrintCafe Inc. of Pittsburgh is raising $15.82 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 $14.89 million from three accredited investors. The provider and developer of infrastructure software and Internet-based products for the printing industry intends to use a majority of the proceeds from the offering for working capital.

Alphion Corp. of Eatontown, N.J., is raising $15.15 million through a private placement of Series B preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $8.39 million from 10 accredited investors. The developer of all-optical networking technology intends to use the proceeds from the offering for working capital.

SSG Precision Optronics Inc. of Wilmington, Mass., is raising $13.7 million through a private placement of Class C convertible preferred stock and Class D preferred stock and warrants to purchase common stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $12.6 million from seven accredited investors. The manufacturer of high technology products intends to use the proceeds from the offering for the acquisition of other businesses and working capital.

IMedium Inc. of Wayne, Pa., is raising $6 million through a private placement of Series C-1 and C-2 preferred stock. At the time of its SEC filing, the company had already raised $5 million from three accredited investors. The provider of network-based marketing automation solutions intends to use the proceeds from the offering for working capital.

Body Media Inc. of Pittsburgh is raising $5.89 million through a private placement of Series B preferred stock. At the time of its SEC filing, the company had already raised $3.29 million from six accredited investors. The company intends to use the proceeds from the offering for working capital, salaries and fees.

GenuOne Inc. of Boston is raising $5 million through a private placement of Series C convertible preferred and common stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $4.98 million from 19 accredited investors. The provider of comprehensive brand protection solutions intends to use the proceeds from the offering for working capital.

IntellectExchange.com Inc. of Bedford, Mass., is raising $5.25 million through a private placement of preferred stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $2.25 million from five accredited investors. The company, which finds business, science and technology experts to meet clients’ needs, intends to use the proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, working capital and general corporate purposes.

EB2B Commerce Inc. of New York is raising $5 million through a private placement of common stock including warrants. No minimum investment is required. Commonwealth Associates LP of New York is acting as the agent on the placement for $200,000 in sales commissions. At the time of its SEC filing, the company had already raised $2 million from six accredited investors. The provider of Internet-based, business-to-business solutions intends to use the proceeds from the offering for working capital, advertisements, publicity and insurance.

B2B Video Network Corp. of Rutherford, N.J., is raising $2 million through a private placement. No minimum investment is required. At the time of its SEC filing, the company had already raised $500,000 from four accredited investors. The start-up company, which plans to develop a unique system for delivering aggregated content through video network systems to business users on a subscription basis, intends to use the proceeds from the offering primarily for working capital.

61C Network Inc. of Pittsburgh is raising $1.5 million through a private placement of Series A preferred 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 Internet infrastructure software company intends to use the proceeds from the offering for working capital.

Video Network Communications Inc. of Portsmouth, N.H., has raised $1 million through from eight accredited investors. No minimum investment was required. The designer, developer and marketer of the VIDPhone, a high-quality, cost-effective video network system, intends to use the proceeds from the offering primarily for contributions to working capital of wholly-owned subsidiaries and acquisition of other businesses.

Keystone Ranger Holdings Inc. of Berwyn, Pa., raised $5.3 million from five accredited investors through an issuance of Series A convertible preferred stock. No minimum investment is required. The holding company intends to use the proceeds from the offering primarily for the construction or leasing of plant buildings and facilities.

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South

Internet Access Technologies Inc. of Houston is raising $12 million through an issuance and sale of Series B convertible preferred stock. A minimum investment of $15,000 is required. At the time of its SEC filing, the company had already raised $69,500 from two accredited investors. The Internet-based office productivity software provider intends to use the proceeds from the offering for working capital.

New Century Pharmaceuticals Inc. of Huntsville, Ala., is raising $6 million through a private placement of common stock. A minimum investment of $60,000 is required. The Leaders Group Inc. of Huntsville is acting as the agent on the placement for a finders’ fee of $75,000. At the time of its SEC filing, the company had already raised $4.8 million from 15 accredited investors. The company, which specializes in human serum albumin technologies, intends to use the proceeds from the offering for working capital.

In-flight Surveillance Systems Inc. of Miami is raising $5 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 $485,000 from seven accredited investors. The development stage company engaged in video surveillance and monitoring aboard commercial airlines intends to use the proceeds from the offering for the purchase, rental or leasing of machinery and equipment, R&D and product development and working capital.

Leda Systems Inc. of Plano, Texas, is raising $3.17 million through a private placement of Series A preferred stock. A minimum investment of $5,000 is required. At the time of its SEC filing, the company had already raised $1.67 million from four accredited investors. The designer and developer of semiconductors intends to use the proceeds from the offering working capital, salaries and fees.

Credit Union Service Corp. of Duluth, Ga., is raising $4.87 million through a Series B preferred stock financing. A minimum investment of $50,000 is required. At the time of its SEC filing, the company had already raised $320,000 from two accredited investors. The designer and developer of products and services for credit unions intends to use the proceeds from the offering for the purchase, rental or leasing of machinery and equipment, working capital and other corporate expenses.

Inductive Signature Technologies Inc. of Knoxville, Tenn., is raising $1.75 million through an issuance and sale of Series A preferred stock. A minimum investment of $25,375 is required. At the time of its SEC filing, the company had already raised $253,750 from seven accredited investors. The designer and manufacturer of traffic sensing equipment intends to use the proceeds from the offering for working capital.

Wisenut Inc. of Santa Clara, Calif., is raising $7 million through a private placement of Series C convertible stock. At the time of its SEC filing, the company had already raised $3.89 million from six accredited investors. The developer of Internet search engine technology intends to use the proceeds from the offering for working capital.

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Midwest

2nd Swing Inc. of Minnetonka, Minn., is raising $6 million through a private placement of Series B convertible preferred stock. A minimum investment of $22,000 is required. ThinkEquity Partners LLC of Minneapolis is acting as the agent on the placement for $300,000 in sales commissions. At the time of its SEC filing, the company had already raised $100,000 from one accredited investor. The buyer, seller and trader of new and used golf clubs and related golf equipment intends to use the proceeds from the offering for working capital.

Flash Tech Inc. of Kansas City, Mo., has raised approximately $4.25 million from 26 accredited investors through a private placement of Class A common stock. A minimum investment of $250,000 was required. The marketing company intends to use the proceeds from the offering for the acquisition of other businesses, working capital, and other guarantees of a bank loan.

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West

Berkeley HeartLab Inc. of Burlington, Calif., is raising $8 million through a private placement of Series C preferred stock and convertible securities. No minimum investment is required. At the time of its SEC filing, the company had already raised $6.44 million from 30 accredited investors. The biotechnology firm intends to use the proceeds from the offering for working capital.

Tegal Corp. of Petaluma, Calif., is raising $5.01 million through a private placement of common stock and warrants. No minimum investment is required. Fechtor, Detwiler & Co. Inc. of Boston is acting as the agent on the placement for $250,250 in sales commissions. At the time of its SEC filing, the company had already raised $2.33 million from 16 accredited investors. The company, which designs, manufactures and sells plasma etching systems, intends to use the proceeds from the offering for working capital.

Novation Environmental Technologies Inc. of Hollywood, Calif., is raising $4.38 million through a private placement of Series A preferred stock. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised $1.39 million from four accredited investors. The water filtration company intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

Oculus Innovative Sciences Inc. of Petulama, Calif., is raising $4.5 million through a convertible securities financing. A minimum investment of $10,000 is required. The developer of new technologies related to medical devices and drug delivery systems intends to use the proceeds from the offering for working capital.

CafÈ Valley Inc. of Phoenix is raising $2.23 million through a private placement of common stock. No minimum investment is required. At the time of its SEC filing, the company had already raised $1.75 million. The manufacturer, marketer, seller and distributor of European-styled baked goods intends to use the proceeds from the offering for working capital, the repayment of indebtedness and the purchase, rental or leasing and installation of machinery and equipment.

Integrex Inc. of Bothell, Wash., is raising $2 million through a private placement of convertible preferred stock and warrants. No minimum investment is required. At the time of its SEC filing, the company had already raised $450,491 from 14 accredited investors. The contract manufacturing company intends to use the proceeds from the offering for working capital.

Alpine Access Inc. of Golden, Colo., is raising $2 million through a private placement of Series B preferred stock. A minimum investment of $1,000 is required. At the time of its SEC filing, the company had already raised approximately $125,000 from six accredited investors. The customer services provider intends to use proceeds from the offering for working capital.

Vayala Corp. of Phoenix is raising $1.5 million through a private placement of Series B preferred stock. Allen Dumont of Ann Arbor, Mich., is acting as the agent on the placement for finders’ fees of $39,279.77. At the time of its SEC filing, the company had already raised approximately $660,610 from 19 accredited investors. The developer and marketer of a searchable, Web-based database intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, the purchase, rental or leasing of plant buildings and facilities, working capital and marketing.

Ernie Prince of Chatsworth, Calif., is raising $1.5 million through a private placement of Series A convertible preferred stock and common stock. A minimum investment of $20,000 is required. The motion picture company intends to use the proceeds for working capital and the acquisition of other businesses.

Neptune Networks Inc. of Bellevue, Wash., is raising $1 million through a private placement of Series A preferred stock and warrants to purchase common stock. A minimum investment of $25,000 is required. The provider of broadband Internet services intends to use proceeds from the offering for working capital and the repayment of indebtedness.

Sound Pharmaceuticals Inc. of Seattle is raising $1 million through the 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 $100,000 from two accredited investors. The biotechnology development company intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, working capital, salaries and fees.

Net Worth Strategies Inc. of Bend, Ore., is raising $1 million through a private placement of Series A preferred stock. A minimum investment of $5,000 is required. At the time of its SEC filing, the company had already raised $80,000 from seven accredited investors. The developer and marketer of financial planning software intend to use the proceeds from the offering for working capital, salaries and fees.

SJ Publishing Company Inc. of Phoenix is raising $1 million through a private placement of common stock. A minimum investment of $25,000 is required. The publishing company intends to use the proceeds from the offering for working capital, inventory, publicity and advertising, bookstore space, authors’ travel expenses and advances, and salaries and fees.

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