East
eWealth.com Holdings Inc. of Greenwich, Conn., is raising $7 million through a private placement of common stock. There is a minimum investment of $10,000 required. At the time of its SEC filing, the company had already raised $70,000 from four accredited investors. The provider of Internet-based financial services intends to use the proceeds from the offering for the acquisition of other businesses, implementing new technology, marketing and working capital.
Micro Dose Technologies Inc. of Momouth Junction, N.J., is raising approximately $6.77 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 $3.6 million from seven accredited investors. The developer of proprietary products to change and improve the ways in which certain medications are administered to patients intends to use the proceeds from the offering for working capital and product development.
Nexsan Corp. of New York is raising $3.04 million through a private placement of common stock. There is a minimum investment of $10,000 required. At the time of its SEC filing, the company had already raised just over $1.52 million from 29 accredited and three non-accredited investors. The data storage solutions provider intends to use a majority of the proceeds from the offering for working capital, the construction or leasing of plant buildings and facilities and the purchase, rental or leasing and installation of machinery and equipment.
First Rain Inc. of New York is raising approximately $4 million through a private placement of convertible securities and preferred stock. There is a minimum investment of $10,000 required on the placement. At the time of its SEC filing, the company had already raised approximately $500,000 from three accredited investors. The Internet infrastructure company intends to use the proceeds from the offering for working capital, salaries and fees.
Speech Works International Inc. of Boston raised $16 million from one accredited investor through a private placement of preferred stock. There was no minimum investment required. The developer of speech recognition software and solutions will receive shares of Eloquent Technology Inc. as proceeds from the offering.
Edgix Corp. of New York raised approximately $12.48 million from six accredited investors through a private placement of Series B convertible preferred stock. There was a minimum investment of $25,000 required. The company intends to use the proceeds from the offering for working capital.
Compete Inc. of Boston raised $6 million from one accredited investor through a private placement of preferred stock. The Internet competitive intelligence service intends to use the proceeds from the offering for the repayment of indebtedness and working capital.
Team-staff Inc. of Somerset, N.J., raised approximately $3.5 million from one accredited investor through a private placement of Series A preferred stock and convertible securities. A minimum investment of $3.5 million was required on the offering. The professional employee organization, employee leasing and payroll company intends to use the proceeds for working capital.
Panacos Pharmaceuticals Inc. of Gaithersburg, Md., raised $3 million from three accredited investors through a private placement of Series B-1 preferred stock. There was no minimum investment required. The developer of pharmaceutical products, including antiviral drugs and vaccines intends to use the proceeds from the offering for working capital.
Applied Theory Corp., of New York raised just over $1 million from one accredited investor and three non-accredited investors through a private placement of common stock. A minimum investment of $9,732 was required. The provider of Internet business solutions including Internet access, Web hosting and e-business solutions intends to use the proceeds from the offering for the acquisition of other businesses and working capital.
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South
Healthcomp Evaluation Services Corp. Inc. of Fort Lauderdale, Fla., raised $5 million from one accredited investor through a private placement of common stock. There was no minimum investment required. The provider of employee health screening and data management services intends to use the proceeds from the offering for the repayment of indebtedness and working capital.
First Security Group Inc. of Chattanooga, Tenn., is raising $4.5 million through a private placement of convertible securities and common stock. A minimum investment of $100,000 is required. At the time of its SEC filing, the company had already raised just over $2.25 million from nine accredited investors. The bank holding company intends to use the proceeds from the offering for working capital, salaries and fees.
Method Products Corp. of Pompano Beach, Fla., is raising $1.5 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 $1.02 million from 14 accredited investors. The full service communications systems provider intends to use the proceeds from the offering for working capital, the acquisition of other businesses, repayment of indebtedness and the purchase or leasing of equipment.
Haunted Adventures of Cedar Hill, Texas, is raising $1.1 million through a private placement of Series C-1 convertible preferred stock. There is a minimum investment of $50,000 required on the offering. The designer, developer, constructor and operator of a Ripley’s Haunted House attraction intends to use the proceeds from the offering for inventory, pre-opening expenses, contingency, working capital, the purchase, rental or leasing and installation of machinery and equipment and the construction or leasing of plant buildings and facilities.
WasteBid.com Inc. of Fairfax, Va., is raising $1 million through a private placement of convertible securities. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised $120,000 from 6 investors. The online intermediary in the solid waste and recycling industry intends to use a majority of the proceeds from the offering for working capital.
nLine Corp. of Austin, Texas, raised approximately $8.21 million from 13 accredited investors through a private placement of Series B convertible preferred stock. There was a minimum investment of $500,000 required. The maker of semiconductor inspection equipment intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities.
N2 Broadband Inc. of Duluth, Ga., raised approximately $4 million from one accredited investor through a private placement of preferred stock. There was a minimum investment of $500,000 required. The provider of software and services for interactive television systems intends to use the proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, construction or leasing of plant buildings and facilities and working capital.
Teleion Wireless Inc. of Wake Forest, N.C., raised approximately $2 million from nine accredited investors through a private placement of Series A preferred stock. There is a minimum investment of $25,000 required. The provider of R&D relating to wireless communication technology intends to use the proceeds from the offering for working capital.
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Midwest
VirtualSellers.com Inc. of Chicago 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 just over $100,000 from four accredited investors and seven non-accredited investors. The consolidator of the call center industry and provider of e-commerce transaction processing and customer service intends to use the proceeds from the offering for working capital.
Polymer Technology Systems Inc. of Indianapolis is raising $3 million through a private placement of convertible securities and common stock. There was a minimum investment of $25,000 required. Jonathan M. Atkins of Indianapolis is acting as the agent on the placement for a $120,000 commission. The developer, manufacturer and marketer of leading edge point of care diagnostic devices focusing on the diabetes market 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.
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West
CommerceFlow Inc. of Livermore, Calif., is raising approximately $12.93 through a private placement of Series B preferred stock. A minimum investment of $10,000 is required. At the time of its SEC filing, the company had already raised approximately $7.5 million from 21 accredited investors. The provider of Internet based online services intends to use the proceeds for working capital.
Game Craft Inc. of Huntington Beach, Calif., is raising $8 million through a private placement of common stock. A minimum investment of $50,000 is required. The manufacturer and seller of factory automation systems to the semiconductor industry intends to use the proceeds from the offering for working capital, marketing, manufacturering, licensing, shipping, legal expenses, the repayment of indebtedness, the construction or leasing of plant building and facilities and the purchase, rental or leasing and installation of machinery and equipment.
High Speed Surfing Inc. of Fremont, Calif., is raising $8 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 just over $1.5 million from four accredited investors. The developer, designer, marketer and supporter of proprietary technology which integrates broadband and wireless networking products on a standards-based wireless local area network intends to use the proceeds from the offering for working capital.
Inclusion Inc. of Los Altos, Calif., is raising approximately $4 million through a private placement of Series C preferred stock. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised just over $2.56 million from 22 accredited investors. The provider of Internet services intends to use the proceeds from the offering for working capital.
OE waves Inc. of Pasadena, Calif., is raising approximately $3.5 million through a private placement of Series B preferred stock. There is no minimum investment required. At the time of its SEC filing, the company had already raised approximately $2 million from two accredited investors. The provider of broadband communication by utilizing patented opto-electronic technologies intends to use the proceeds from the offering for working capital.
HR-Path Inc. of Alameda, Calif., is raising $2.5 million through the private placement of Series B 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 $1.9 million from 12 accredited investors. The human resources services company intends to use the proceeds for working capital.
Eurobrand Inc. of Los Angeles is raising $2 million through a private placement of common stock. A minimum investment of $20,000 required on the placement. At the time of its SEC filing, the company had already raised approximately $691,300 from 65 accredited investors and 19 non-accredited investors. The developer, manufacturer, marketer and seller of mints containing caffeine intends to use the proceeds from the offering for product development, administrative costs, manufacturing and marketing costs.
PlyMedia Inc. of Seattle is raising $1.6 million through Series A preferred stock financing. There was no minimum investment required on the placement. At the time of its SEC filing, the company had already raised $1.25 million from 16 accredited investors. The provider of component imaging technology services intends to use the proceeds from the offering for the working capital.
Elitra Pharmaceuticals Inc. of San Diego raised $5 million from one accredited investor through a private placement of preferred stock. The researcher and developer of antibiotics intends to use the proceeds from the offering for working capital.
Eternal Systems Inc. of Santa Barbara, Calif., raised $5 million from one accredited investor through a private placement of preferred stock. There was a minimum investment of $50,000 required on the offering. The technology development company intends to use the proceeds from the offering for working capital.
TeamFUEL Inc. of Huntington Beach, Calif., raised just over $3.97 million from five accredited investors through a private placement of Series A preferred stock, including warrants and options. A minimum investment was not required on the offering. The seller of finished petroleum products and petroleum equipment intends to use the proceeds from the offering for working capital.
Entropia Inc. of San Diego raised approximately $3.1 million from 5 accredited investors through a private placement of Series A-1 preferred stock and common stock. The science and mathematics research Web site operator intends to use the proceeds from the offering for working capital.
Applied Inference Inc. of Bellevue, Wash., raised approximately $2.1 million from six accredited investors through a private placement of Series C preferred stock. There was no minimum investment required. The software provider intends to use the proceeds from the offering for working capital.
RunMoney.com Inc. of San Diego raised just over $1.8 million from 35 accredited investors through a private placement of Series A preferred stock. There was a minimum investment of $10,340 required. At the time of its SEC filing, the company had already raised just over $200,000 from four accredited investors. The investment advisory company intends to use proceeds from the offering for working capital.
Mobile Way Inc. of Hillsborough, Calif., raised approximately $1.54 million from seven accredited investors through a private placement of common stock. There was no minimum investment required. The developer and operator of a global SMS network intends to use the proceeds from the offering for working capital.
Pricing Dynamics Inc. of San Francisco raised $1.5 million from 19 accredited investors through a private placement of Series A preferred stock. A minimum investment of $12,500 was required. The company intends to use the proceeds from the offering for working capital.
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