Regional Roundup 4-22-02

April 22 2002

East

Innapharma Inc. of Suffern, N.Y., is raising $12.5 million through a private placement of Series A preferred stock. A minimum investment is not required. Kirlin Securities Inc. of Syosset, N.Y., is acting as the agent on the placement for $1.25 million in sales commissions. At the time of its SEC filing, the company had already raised just over $6.57 million from 111 accredited investors. The biopharmaceutical company engaged in product development through identification, acquisition and development intends to use the proceeds from the offering for repayment of indebtedness, research and development, and working capital. For more information, call Seth Abel (Asst. Secy.) 610-645-4101

Matritech Inc. of Newton, Mass., is raising $6.4 million through a private placement of preferred stock. A minimum investment is not required. Sunrise Corporation of New York is acting as the agent on the placement for 8% of the gross sale price. At the time of its SEC filing, the company had already raised just about $4.31 million from 17 accredited investors. The manufacturer of cancer diagnostic products intends to use the proceeds from the offering for working capital. For more information, call Stephen D. Chubb (CEO) 617-928-0820

Biznews24.com Inc. of Bedford, N.H., is raising $2.75 million through a private placement of Series B convertible preferred stock. There is a minimum investment of $20,000 required. At the time of its SEC filing, the company had already raised just about $865,000 from 13 accredited investors. The streaming media provider that offers a wide range of video applications exclusively for use on the World Wide Web intends to use the proceeds from the offering for working capital and the purchase, rental or leasing and installation of machinery and equipment. For more information, call Robert Sullivan (CEO) 603-471-7167

Itrax Inc. of Philadelphia is raising $2 million through a private placement of common stock. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised just about $925,000 from six accredited investors. The population health management solutions company intends to use the proceeds from the offering for working capital. For more information, call Yuri Rozenfeld, Esq. (General Counsel) 215-557-7488

Bridge Semiconductor Corporation of Pittsburgh is raising just about $1.72 million through a private placement of common stock. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised just about $1.7 million from 39 accredited investors. The developer of electronic sensor equipment intends to use the proceeds from the offering for the repayment of indebtedness and working capital. For more information, call Joshua J. Ziff (President/CEO) 412-271-3001

Analytics Inc. of Madison, Conn., is raising $1.5 million through a private placement of Series A convertible preferred stock. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised just over $1.49 million from 18 accredited investors. The provider of spend-analysis data collection services and related analytical software tools intends to use the proceeds from the offering for working capital. For more information, call John Jensen (President) 203-318-0400

Northeast Securities Inc. of Mitchel Field, N.Y., raised just about $3.58 million from seven accredited investors through an issuance and sale of common stock. There was no minimum investment required on the placement. The registered securities broker-dealer intends to use the proceeds from the offering for working capital and the redemption of common stock. For more information, call Stephen J. Perrone (CEO) 516-222-5300

First Commonwealth Financial Corporation of Indiana, Pa., raised just about $1.63 million from one accredited investor through an issuance and sale of common stock. There was no minimum investment required on the placement. The bank holding company intends to use the proceeds from the offering for the acquisition of other businesses. For more information, call Joseph E. O’Dell (President/CEO) 724-349-7200

Medidata Solutions Inc. of New York raised just over $1 million from five accredited investors through the issuance and sale of preferred stock. There was a minimum investment of $50,000 required on the placement. The software applications company engaged in the clinical research industry intends to use the proceeds from the offering for working capital. For more information, call Tarek Sheriff (CEO) 212-750-1612

South

FUNDever Inc. of Boca Raton, Fla., is raising $2.25 million through a private placement of preferred stock. A minimum investment of $62,500 is required on the placement. At the time of its SEC filing, the company had already raised $125,000 from one accredited investor. The fundraising system intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, repayment of indebtedness, prepaid software licensing and royalties, website design and related computer equipment and software, and working capital. For more information, call Paul Robinson (President) 561-237-1002

Spectrum Ventures Inc. of Lake Worth, Fla., is raising $1 million through a private placement of common stock. A minimum investment of $5,000 is required on the placement. At the time of its SEC filing, the company had already raised just over $150,000 from 10 accredited investors. The cable television systems and wireless network installer intends to use the proceeds from the offering for working capital, laboratories in the U.S. and in the U.K., and FDA clinical trials. For more information, call Alexander Anderson (President) 604-899-1201

Midwest

The Orgix Corp. of Minneapolis is raising $4.75 million through a private placement of Series A convertible preferred stock. A minimum investment of $100,000 is required. At the time of its SEC filing, the company had already raised just about $4.11 million from 10 accredited investors. The provider of fiber optic services and solutions intends to use the proceeds from the offering for the repayment of indebtedness, working capital, construction or leasing of plant buildings and facilities. For more information, call Matthew P. Kinley (Secretary) 612-252-2326

NewStreets Inc. of Springfield, Ill., is raising just about $3.5 million through an issuance and sale of Series B convertible preferred stock. A minimum investment of $30,000 is required. At the time of its SEC filing, the company had already raised just over $30,000 from one accredited investor. The corporation organized as a bank holding company intends to use the proceeds from the offering for working capital, the repayment of indebtedness and web design services. For more information, call David Lewis (CEO) 217-698-2700

Benchmark Global Capital Group Inc. of Oklahoma City is raising just about $3 million through an issuance of Series B convertible preferred stock. A minimum investment of $5,000 is required on the placement. At the time of its SEC filing, the company had already raised $444,003 from 18 accredited investors. The holding company also engaged in investment and marketing consulting intends to use the proceeds from the offering for working capital and the repayment of indebtedness. For more information, call Benjamin Wei (CEO) 405-810-8317

BioSafe Medical Technologies Inc. of Lake Forest, Ill., is raising just over $2.88 million through an exchange of common shares. A minimum investment of 25,000 is required on the placement. At the time of its SEC filing, the company had already raised $377,000 from 12 accredited investors. BioSafe is a holding company for several special service subsidiaries. For more information, call David C. Fleisner (President) 847-234-8111

Atomic Dog Publishing Inc. of Cincinnati is raising $2 million through a private placement of Series A preferred stock. A minimum investment of 20,000 is required on the placement. At the time of its SEC filing, the company had already raised $650,660.64 from six accredited investors. The acquirer, developer and distributor of educational content to the higher education market intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, purchase of real estate, web hosting, travel, insurance, working capital and marketing. For more information, call Alex von Rosenberg (CEO) 800-310-5661

Invizeon Corporation of Missoula, Mont., is raising $2 million through an exchange of common shares. A minimum investment of 25,000 is required on the placement. Jed Tinder is acting as the agent on the placement for $10,000 in sales commissions. At the time of its SEC filing, the company had already raised $90,000 from two accredited investors. The healthcare technology company intends to use proceeds from the offering for the repayment of indebtedness and working capital. For more information, call David J. Todd (President) 406-543-4059

West

Neoteris Inc. of Mountain View, Calif., is raising $15 million through a private placement of Series B preferred stock and convertible securities. A minimum investment of $1,180 is required on the placement. At the time of its SEC filing, the company had already raised just over $14.9 million from 23 accredited investors. The developer and seller of Internet software and services intends to use the proceeds from the offering for working capital. For more information, call Krishna Kolluri (CEO) 650-605-4800

TransVascular Inc. of Menlo Park, Calif., is raising just about $13.78 million through a private placement of Series D preferred stock and convertible securities. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised just about $7.21 million from nine accredited investors. The medical devices company intends to use the proceeds from the offering for working capital. For more information, call J. Casey McGlynn (Secretary) 650-473-4500

NanoMuscle Inc. of Antioch, Calif., is raising about $13.86 million through the issuance and sale of Series B preferred stock. A minimum investment of $2,000 is required on the placement. At the time of its SEC filing, the company had already raised $4.6 million from 81 accredited investors. The developer and manufacturer of micro linear actuators intends to use the proceeds from the offering for working capital. For more information, call Danielle Fowler (Secretary) 925-776-4700

Ceon Corporation of Redwood City, Calif., is raising just about $12 million through a Series D preferred stock financing. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised just over $8.04 million from 38 accredited investors. The provider of software, maintenance and support to broadband service providers intends to use the proceeds from the offering for working capital. For more information, call Frank F. Rahmani (Asst. Secy.) 650-817-6300

California University of Law and Business (CULB) of Los Angeles is raising $8 million through a Series A preferred stock financing. A minimum investment of $5,000 is required on the placement. The wireless communications company intends to use the proceeds from the offering for working capital, repayment of indebtedness, acquisition of the other businesses, construction or leasing of plant buildings and facilities, and the purchase, rental or leasing and installation of machinery and equipment. For more information, call Howard Lo (CEO) 213-388-6328

Alere Medical Inc. of Reno, Nev., is raising just over $5.41 million through a private placement of Series C preferred stock. A minimum investment is not required. At the time of its SEC filing, the company had already raised just about $4.46 million from five accredited investors. The provider of medical services intends to use the proceeds from the offering for working capital. For more information, call Wayne Krachun (CFO) 775-829-8885

Delafield Partners Inc. of Seattle is raising $5 million through Series A convertible preferred stock financing. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised just over $3.55 million from five accredited investors. The investment securities trading company intends to use the proceeds from the offering for working capital. For more information, call J.D. Delafield (President/ CEO) 206-254-4101

Escend Technologies Inc. of San Mateo, Calif., is raising just over $3.6 million through a private placement of Series C financing. A minimum investment of $51,300 is required on the placement. At the time of its SEC filing, the company had already raised just over $2.55 million from six accredited investors. The enterprise software development company intends to use the proceeds from the offering for working capital. For more information, call Bruce Coleman (CEO) 650-627-9200

Extensil Inc. of San Jose, Calif., is raising $2.81 million investor through Series B preferred stock financing. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised $1.06 million from 10 accredited investors. The designer and seller of semiconductor and computer chips intends to use the proceeds from the offering for the acquisition of other businesses and working capital. For more information, call Gail E. Suniga (Asst. Secy.) 408-342-8616

Wildgate Wireless Inc. of Culver City, Calif., is raising $2.4 million through a common stock offering. There is a minimum investment of $5,000 required on the placement. The telecom hardware and software provider intends to use proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, repayment of indebtedness, and working capital. For more information, call Neal Leviton (CFO) 310-845-7500

CyberU Inc. of Santa Monica, Calif., is raising just about $1.5 million through Series B preferred stock financing. There is a minimum investment of $10,000 required on the placement. At the time of its SEC filling, the company had already raised just about $2.08 million from six accredited investors. The provider of educational courses over the Internet through a proprietary learning management system intends to use the proceeds from the offering for working capital, construction or leasing of plant buildings and facilities, and the purchase, rental or leasing and installation of machinery and equipment. For more information, call Steve Simon (President) 310-581-2005

SimpleDevices Inc. of San Mateo, Calif., is raising just about $2 million through a Series A preferred stock offering. A minimum investment of $1,000 is required on the placement. At the time of its SEC filing, the company had already raised $1.99 million from 34 accredited investors. The Internet service provider intends to use proceeds from the offering for working capital. For more information, call Gregory W. Mathis, Esq. (Asst. Secy.) 650-356-0254

SportsTrac Systems Inc. of Boulder, Colo., is raising $1.25 million through a common stock offering. First Allied Securities Inc. of San Diego is acting as the agent in the placement for $450,000 in sales commissions. At the time of its SEC filing, the company had already raised just about $1.24 million from 81 accredited investors. The developer and marketer of mind-and-body performance evaluation and training software products and rehabilitation products intends to use proceeds from the offering for the repayment of indebtedness, sales and marketing, working capital, and product development. For more information, call Marc R. Silverman (President) 303-527-0600

eRoomSystem Technologies of St. George, Utah, is raising $1.38 million through a common stock offering. A minimum investment of $5,000 is required on the placement. At the time of its SEC filing, the company had already raised just about $1.42 million from accredited investors. The marketer of an intelligent, in-room computer platform and communication network, refreshment centers, room safes and other in-room products and services for the lodging industry markets intends to use proceeds from the offering for working capital. For more information, call Gregory L. Hrncir (General Counsel) 800-316-3070

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