East
Lexent Technologies Inc. of Lexington, Mass., is raising just over $2 million through a private placement of Series A convertible preferred stock. There is a minimum investment of $20,000 required. At the time of its SEC filing, the company had already raised $1 million from 11 accredited investors. The provider of laptop computer security systems intends to use the proceeds from the offering for working capital, salaries, fees, research, development and the construction or leasing of plant buildings and facilities, purchase, rental or leasing and installation of machinery and equipment.
Ad Alive.com Inc. of Waltham, Mass., is raising approximately $2 million through a private placement of Series A convertible preferred stock. At the time of its SEC filing, the company had already raised $1.5 million from one accredited investor. The provider of network and information access points for personal digital assistants intends to use the proceeds from the offering for working capital.
Loris Air Corp., of Concord, Mass., is raising $1.5 million through a private placement of convertible securities. A minimum investment is not required. At the time of its SEC filing, the company had already raised $50,000 from one accredited investor. The company’s Web site facilitates the connection between retailers, manufacturers, and consumers through the use of wireless communication devices. Loris intends to use the proceeds from the offering for working capital.
Environ Technologies Inc. of New York is raising $1 million through a private placement of preferred stock. A minimum investment of $100,000 is required on the placement. At the time of its SEC filing, the company had already raised $200,000 from two investors. The producer of environmentally safe substitutes for asbestos-related products intends to use the proceeds from the offering for working capital.
Lifetips.com Inc. of Boston is raising $1 million through a private placement of preferred stock. A minimum investment of $25,000 was required for the offering. At the time of its SEC filing, the company had already raised $150,000 from five accredited investors. The interactive online information exchange operator intends to use the proceeds from the offering primarily for working capital.
SalesDriver.com Inc. of Maynard, Mass., raised more than $10 million from 11 accredited investors through a private placement of Series B common stock and Series B convertible preferred stock. A minimum investment of $10,000 was required. The online administrator of sales contests intends to use the proceeds from the offering for working capital, salaries and fees.
SeaChange International Inc. of Maynard, Mass., raised just over $10 million from one accredited investor through a private placement of Series B convertible preferred stock. There was no minimum investment required. The provider of digital advertisement insertion systems intends to use the proceeds from the offering for working capital.
Ajunto Inc. of King of Prussia, Pa., raised $7 million from 21 accredited investors through a private placement preferred stock. The b-to-b Internet company intends to use the proceeds for working capital.
Open Market Inc. of Burlington, Mass., raised over $6.75 million from two accredited investors through a private placement of Series E cumulative convertible preferred stock. A minimum investment of $10,000 was required. Granite Financial Group Inc. of San Diego acted as the agent on the placement for a $200,000 commission. The developer e-business solutions to manage interactions with site visitors, employers and customers intends to use the proceeds from the offering for working capital, salaries and fees.
Rotary Power International Inc. of Fitchburg, Mass., raised approximately $3 million from 30 accredited investors through a private placement of common stock and stock purchase warrants. A minimum investment of $12,000 was required. Merit Capital Associates Inc. acted as the agent on the placement for a $264,000 sales commission. The manufacturer of rotary engines intends to use a majority of the proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, working capital and the manufacturing costs of 15 rotary engines.
Mobile Metrics Inc. of King of Prussia, Pa., raised approximately $2 million from 13 accredited investors through a private placement Series A preferred stock and convertible securities. A minimum investment was not required. The provider of a platform for wireless e-commerce intends to use the proceeds for working capital.
Xando Cosi Inc. of New York is raising $15 million through a private placement of Series B preferred stock. At the time of its SEC filing, the company had already secured $14 million from 48 accredited investors. The owner and operator of specialty restaurants intends to use the proceeds from the offering for working capital.
Sun Life of Canada (US) Financial Services Holdings Inc. of Boston is raising $7.05 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 just over $240,198 from four accredited investors. The financial services holding company intends to use the proceeds from the offering for working capital.
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South
World Factory Inc. of Southlake, Texas, is raising $5 million through a private placement of common stock. There is no minimum investment required. At the time of its SEC filing, the company had already raised approximately $1.45 million from seven accredited investors. The b-to-b Internet trade facilitator and marketplace intends to use the proceeds from the offering for working capital.
Online Insight Inc. of Atlanta is raising approximately $4.3 million through a private placement of Series B preferred stock and convertible securities. A minimum investment of $50,000 is required. At the time of its SEC filing, the company had already raised just over $150,000 from three accredited investors. The company, which was formed to improve e-commerce by bridging the gap between information management and transaction fulfillment capabilities of many b-to-b and b-to-c Web sites, intends to use the proceeds from the offering for working capital.
eFarm Inc. of Danvers, Mass., is raising $2.5 million through a private placement of common stock. A minimum investment of $10,000 is required. The collaborative commerce system that Web-enables supply chain management for the food and agriculture processing industry intends to use the proceeds from the offering for working capital.
Mecury Gate International Inc. of Apex, N.C., is raising approximately $1.5 million through a private placement of common stock. At the time of its SEC filing, the company had already raised just over $800,000 from 10 accredited investors. A minimum investment of $50,000 is required. The provider of Internet optimized business solutions intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, purchase, rental or leasing and installation of machinery and equipment, working capital, repayment of indebtedness and marketing.
Collegeboxes Inc. of Miami raising $1 million through a private placement of Series A convertible preferred stock. A minimum investment of $50,000 is required on the placement. At the time of its SEC filing, the company had already raised just over $850,000 from nine accredited investors. The provider of shipping and storage services for college students intends to use the proceeds from the offering for the repayment of indebtedness and working capital.
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Midwest
Aravox Technologies Inc. of Arden Hills, Minn., is raising $14 million through a private placement of preferred stock. There is no minimum investment required. The manager of IP media on VoIP networks intends to use the proceeds from the offering for the repayment of indebtedness and working capital.
Carbonyx Inc. is raising $6 million through a private placement of common stock and convertible securities. No minimum investment is required. At the time of its SEC filing, the company had already raised $2.86 million from 69 accredited investors and $696,100 from 15 non-accredited investors. The company intends to use the proceeds from the offering to manufacturing of production facility for steel components.
Izex Technologies Inc. of Golden Valley, Minn., is raising $3 million through a private placement of common stock. There is no minimum investment required. The provider of telephony services intends to use the proceeds from the offering for the repayment of indebtedness, working capital research and development and clinical testing.
Nuron Inc. of South Bend, Ind., raised just over $3.5 million from 28 accredited investors and six non-accredited investors through a private placement of common stock. The designer and creator of application specific hardware for computers intends to use the proceeds from the offering for product development and working capital.
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West
International Global Positioning Inc. of Phoenix is raising $17.25 million through a private placement of common stock. A minimum investment is not required. The manufacturer, marketer and seller of monitor global positioning devices intends to use the proceeds from the offering for working capital, taxes, consulting, marketing, rent and operating expenses.
Alfara Web Systems Inc. of Stanford, Calif., is raising approximately $14 million through Series A preferred financing. At the time of its SEC filing, the company had already raised approximately $13 million from four accredited investors. The designer of systems for Web servers and high content distribution intends to use the proceeds from the offering for working capital.
Isilk.com Inc. of San Francisco is raising approximately $10.4 million through a private placement of Series B convertible preferred stock. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised $3 million from 10 accredited investors. The Internet technology development company intends to use the proceeds from the offering for conversion costs and working capital.
PicoNetics Inc. of Fremont, Calif., is raising just over $10.2 million through a private placement of Series B convertible 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 approximately $8.8 million from 45 accredited investors. The computer chip design firm intends to use the proceeds from the offering for working capital.
Keyhole Inc. of Mountain View, Calif., is raising approximately $10 million through a private placement of Series A convertible preferred stock. No minimum investment is required on the placement. At the time of its SEC filing, the company had already raised approximately $6 million from six accredited investors. The developer of navigation and mobile commerce mapping software intends to use the proceeds from the offering for salaries and fees and working capital.
Kinderview Inc. of San Diego is raising $10 million through a private placement of Series common stock. A minimum investment of $10,000 is required. The provider, operator and maintainer of childcare communication and viewing systems intends to use the proceeds from the offering for equipment installation, marketing, inventory purchase, web development, the repayment of indebtedness and working capital.
Presidio Software Inc. of Cupertino, Calif., is raising just over $5.3 million through a private placement of Series A preferred stock. At the time of its SEC filing, the company had already raised approximately $5 million from seven accredited investors. The developer and seller of an XML-based enterprise reporting product intends to use the proceeds from the placement for working capital and the repayment of indebtedness.
Know Now Inc. of Menlo Park, Calif., is raising approximately $7.9 million through a private placement of Series A preferred stock. At the time of its SEC filing, the company had already raised approximately $7.79 million from 22 accredited investors. The developer of two-way messaging technology for the Internet intends to use the proceeds from the offering for working capital.
Eneco Inc. of Salt Lake City is raising approximately $6 million through a private placement of common stock and stock purchase warrants. A minimum investment of $60,000 is required. At the time of its SEC filing the company had already raised just over $1.5 million from 15 accredited investors. The researcher and developer of energy generation and energy conversion technology intends to use the proceeds from the offering for research and development, patent protection, marketing and strategic alliances.
Geotrust Inc. of Portland is raising just over $4 million through a private placement of convertible securities and warrants to purchase common stock. There is no minimum investment required. At the time of its SEC filing, the company had already raised approximately $2.6 million from nine accredited investors. The developer, marketer and seller of software tools and programs to help ensure secure online transactions intends to use the proceeds from the offering for working capital.
Believe Inc. of Santa Clara, Calif., raised $11.8 million from two accredited investors through a private placement of Series B preferred stock. There was no minimum investment required. The developer and supplier of technology solutions for computer animation and digital entertainment industry plans to use the proceeds from the offering for working capital.
Netstech Inc. of Palo Alto, Calif., has raised $2 million through a private placement of Series A preferred stock from one accredited investor. There was no minimum investment required. The technology company intends to use the proceeds from the offering toward the repayment of indebtedness and working capital.
Glides Inc. of Bellevue, Wash., raised $3 million from two accredited investors through a Series A preferred stock financing. There was no minimum investment required on the placement. The software developer intends to use the proceeds from the offering for the working capital, marketing activities, purchase or rental and installation of machinery and equipment and the construction or leasing of plant buildings and facilities.
PlanetOutdoors.com Inc. of Boulder, Colo., raised $2.03 million through a private placement of preferred stock. The online retailer intends to use the proceeds from the offering for working capital.
Bridgestream Inc. of Oakland, Calif., raised $1.4 million from 14 accredited investors through the private placement of Series A preferred stock. The company intends to use the proceeds from the offering for working capital.
Materia Inc. of Pasadena, Calif., has raised over $1.14 million from 11 accredited investors through a private placement of Series A-2 preferred stock. The developer and manufacturer of wireless telecommunications products intends to use proceeds from the offering for working capital.
Indra Networks Inc. of Santa Clara, Calif., raised $1 million from two accredited investors through a private placement of Series A preferred stock. There was no minimum investment required. The provider of intranet infrastructure products intends to use the proceeds from the offering for working capital.
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