Regional Roundup 6-10-02

East

CB Technologies Inc. of Exton, Pa., is raising up to $15 million through a convertible securities financing. At the time of its SEC filing, the company had already raised $10.63 million from 13 accredited investors. The deliverer of custom software development and consulting services intends to use the proceeds from the offering for working capital. For more information, call Warren Barratt, senior vice president, at 610-280-7400.

SiteScape Inc. of Maynard, Md., is raising $10.38 million through a Series B convertible preferred stock financing. There is a minimum investment of $25,000 required on the placement. At the time of its SEC filing, the company had already raised $3 million from 11 accredited investors. The developer and host of customized software intends to use the proceeds from the offering for repayment of debt and working capital. For more information, call Timothy P. Butler, president, at 978-461-9959.

InfoRocket.com Inc. of New York is raising $8 million through a Series C preferred stock financing. At the time of its SEC filing, the company had already raised $4.4 million from three accredited investors. The company, engaged in the provision of Internet services, intends to use the proceeds from the offering for working capital. For more information, call Steven Cooperman, senoir vice president of business development and legal affairs, at 646-485-7500.

ShopBistro Inc. of Jericho, N.Y., is raising $6 million through a convertible preferred stock financing. There is a minimum investment of $25,000 required. Great Eastern Securities Inc. of Port Washington, N.Y., is acting as the agent on the placement for $600,000 in sales commissions. The marketer, seller and distributor of products and services through direct response television marketing and through retail channels in the U.S. and Canada intends to use the proceeds from the offering for capital expenditures, airtime media purchases, repayment of debts, working capital, inventory and licensing fees. For more information, call Joseph DeFalco, chief executive officer, at 516-937-9800.

Wisdom Technologies Corp. of Pittsburgh is raising $4.25 million through the sale of Series A-2 convertible preferred stock. A minimum investment of $10,000 is required on the placement. At the time of its SEC filing, the company had already raised $1.75 million from two accredited investors. The developer and provider of licenses for automated corporate treasury management software intends to use the proceeds from the offering for working capital. For more information, call Angela Kennedy, president, at 412-918-1000.

Diversified Biotech Group Inc. of New York is raising $2.8 million through a private placement of common stock. A minimum investment of $106,250 is required. InvestPrivate Inc. of New York is acting as the agent on the placement for $600,000 in sales commissions. The supplier of various products and services related to investments in the biotechnology industry intends to use the proceeds from the offering for working capital. For more information, call Scott Mathis, chief executive officer, at 866-960-7700.

Ambient Corp. of Brookline, Mass., is raising $3 million through a Series C preferred stock financing. A minimum investment of $50,000 is required. Belle Haven Investments LP of Greenwich, Conn., is acting as the agent on the placement for $150,000 in sales commissions. The researcher, developer, designer and marketer of a communications infrastructure, which uses electrical power lines as a high speed communication medium, intends to use the proceeds from the offering for working capital, expansion of staff, and R&D. For more information, call John Joyce, chief executive, at 203-629-4772.

Outside The Classroom Inc. of Newton, Mass., is raising $2 million through a preferred stock financing. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised $1.85 million from 38 accredited investors. The provider of online health and life skills courses for colleges, high schools and middle schools, as well as to parents and health educators intends to use the proceeds from the offering for working capital. For more information, call Brandon Busteed, chief executive, at 641-641-2001.

Amplidyne Inc. of Raritan, N.J., is raising approximately $1 million through a preferred stock financing. A minimum investment of $100,000 is required on the placement. First Montauk Securities Corp. of Mineola, N.Y., is acting as agents on the placement for $760,616 in fees. At the time of its SEC filing, the company had already raised $550,000 from 13 accredited investors. The designer, manufacturer and seller of power amplifiers and related subsystems, intends to use the proceeds from the offering for working capital. For more information, call Michael Lawrence, president, at 908-253-6870.

FASTNET Corp. of Bethlehem, Pa., raised $6.6 million from 25 accredited investors through a common stock offering. The provider of Internet access and Web-hosting services intends to use the proceeds from the offering for the acquisition of other businesses. For more information, call Stanley Bielicki, chief financial officer, at 610-266-6700.

Inplane Photonics Inc. of South Plainfield, N.J., raised $5 million from four accredited investors through a common stock offering. There was a minimum investment of $40,000 required on the placement. The developer of communications technology intends to use the proceeds from the offering for working capital. For more information, call Joseph Shmulovich, chief financial officer, at 908-753-9800.

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South

Front Range Capital Corp. of Louisville, Colo., raised $3.72 million from 16 accredited investors through a common stock offering. There was a minimum investment of $10,000 required on the placement. The Wallach Co. of Denver acted as an agent for $250,000 in sales commissions. The bank holding company intends to use the proceeds from the offering for repayment of debt and working capital. For more information, call Alice Bier, chief financial officer, at 303-926-0300.

Agari Mediware Inc. of Herndon, Va., is raising $10.89 million through the sale and issuance of series D-1, D-2 and convertible preferred stock. At the time of its SEC filing, the company had already raised $7.39 from three accredited investors. The media management technologies firm intends to use the proceeds from the offering for working capital. For more information, call Paul Mutino, vice president and general counsel, at 703-456-7738.

Amedisys Inc. of Baton Rouge, La., is raising $10 million through a common stock financing. A minimum investment is of $25,000 is required on the placement. Belle Haven Investments LP of Greenwich, Conn., is acting as an agent for sales commissions of $600,000. The provider of home health-care nursing services intends to use the proceeds from the offering for the repayment of debt and working capital. For more information, call Michael Lutgring, secretary, at 225-292-2031.

Source Medical Solutions Inc. of Birmingham, Ala., is raising $8.05 million through a common stock financing. At the time of its SEC filing, the company had already raised $4.64 million from 13 accredited investors. The seller of computer software for health-care applications intends to use the proceeds from the offering for working capital and the repayment of debt. For more information, call P. Daryl Brown, president and chief executive, at 205-972-1222.

Renal Care Partners Inc. of Aventura, Fla., is raising $4 million through a common stock financing. A minimum investment of $25,000 is required on the placement. At the time of its SEC filing, the company had already raised $1.14 million from 19 accredited and non-accredited investors. The provider of dialysis to patients suffering from kidney disease intends to use the proceeds from the offering for working capital, leasing of plant buildings and repayment of debt. For more information, call Orestes Lugo, executive vice president and chief financial officer, at 305-936-9630.

Adorno/Rogers Technology Inc. of Austin, Texas is raising $1.5 million through a common stock financing. At the time of its SEC filing, the company had already raised $1.01 million from 33 accredited investors. The manufacturer and distributor of wheelchairs and associated mobility products, intends to use the proceeds from the offering for working capital. For more information, call Jack Jacobs, chief executive officer, at 512-474-7267.

Gearworks Inc. of Eagen, Minn., is raising $13.44 million through a Series B preferred stock financing. A minimum investment is not required on the placement. At the time of its SEC filing, the company had raised $10.88 million from five accredited investors. The developer of wireless and Web-based mobile applications intends to use the proceeds from the offering for working capital. For more information, call Colby Gartin, assistant secretary, at 800-735-3457.

Biorefining Inc. of Minneapolis is raising $1.5 million through a private placement of common stock. A minimum investment of $25,000 is required on the placement. Holihan Smith & Co. Inc. of Chicago, and NDX Trading Inc. of Minneapolis are acting as agents on the placement for $150,000 in sales commissions. The refiner of organic materials, intends to use the proceeds from the offering for working capital, the leasing of plant buildings and facilities. For more information, call Wesley Hayne, chief executive officer, at 612-822-3310.

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Midwest

Rubicon Genomics Inc. of Ann Arbor, Mich., is raising $6 million through the sale and issuance of Series B convertible preferred stock and common stock warrants. At the time of its SEC filing, the company had already raised $2.44 million from 16 accredited investors. The company, engaged in the business of genomics, intends to use the proceeds from the offering for working capital. For more information, call Thomas Collet, president, at 734-677-4845.

PeopleNet Communications Corp. of Chaska, Minn., is raising $5.5 million through a Series D convertible preferred stock financing. At the time of its SEC filing, the company had already raised $2.52 million from four accredited investors. The company, which provides services to commercial fleet owners through wireless systems, intends to use the proceeds from the offering for working capital. For more information, call John Sarto, chief executive officer, at 952-368-4100.

U.S. Semiconductor Corp. of Independence, Mo., is raising $2.15 million through a private placement of Series B convertible preferred stock. At the time of its SEC filing, the company had already raised $1.23 million from 103 accredited investors. The semiconductor development and manufacturing firm intends to use the proceeds from the offering for the acquisition of other businesses; purchase, rental or leasing and installation of machinery and equipment; and the repayment of debt. For more information, call Vincent Salva, vice president, at 816-554-7830.

Cool Clean Technologies Inc. of Burnsville, Minn., is raising $1.5 million through a common stock financing. A minimum investment of $50,000 is required on the placement. At the time of its SEC filing, the company had already raised $1.21 million from four accredited investors. The manufacturer of Carbon dioxide cleaning technology and equipment intends to use the proceeds from the offering for the construction of plant buildings and facilities, repayment of debt and working capital. For more information, call John Wilkstrom, president, at 952-882-5000.

Kokhala Inc. of St. Louis is raising $3 million through a private placement of Series B 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 $200,000 from two accredited investors. The developer, manufacturer and marketer of solar thermal electric modular systems intends to use proceeds from the offering for working capital and the purchase, rental or leasing and installation of machinery and equipment. For more information, call Kevin OíBrien, executive vice president of technology, at 314-743-2900.

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West

Solbright Inc. of New York raised $1.73 million from six accredited investors through a convertible securities offering. There was a minimum investment of $25,000 required on the placement. Genesys Partners Inc of New York acted as an agent for findersí fees. The provider of software and software-related services intends to use the proceeds from the offering for working capital. For more information, call Thomas Pace, president and chief executive, at 212-920-8022.

TCI Solutions Inc. of Irvine, Calif., is raising up to $13.84 million through a private placement of Series B redeemable convertible preferred stock. At the time of its SEC filing, the company had already raised $13.66 million from 62 accredited investors. The provider of software development and sales intends to use the proceeds from the offering for working capital. For more information, call Stephen De Santis, chief financial officer, at 949-476-1122.

Recourse Technologies Inc. of Redwood City, Calif., is raising $12 million through a Series D preferred stock financing. There is a minimum investment of $25,000 required on the placement. At the time of its SEC filing, the company had already raised $10.9 million from 24 accredited investors. The developer and host of customized software intends to use the proceeds from the offering for working capital. For more information, call Eric Reifschneider, president, at 650-381-8000.

SurroMed Inc. of Mountain View, Calif., is raising $5 million through a Series E senior preferred stock financing. At the time of its SEC filing, the company had already raised $10 million from two accredited investors. The company engaged in the discovery and commercialization of novel patterns of biological marketers related to human disease, and response to therapy intends to use the proceeds from the offering for working capital. For more information, call August Moretti, chief financial officer, at 650-230-1961.

Linden Research Inc. of San Francisco is raising $4 million through a Series B preferred stock financing. At the time of its SEC filing, the company had already raised $2.75 million from five accredited investors. The company, engaged in the business of software development, intends to use the proceeds from the offering for working capital. For more information, call Philip Rosedale, President, at 415-863-3839.

Octree Biometrics Inc. of Boulder, Colo., is raising $3.95 million through a common stock financing. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised $3.7 million from three accredited investors. The supplier of various products and services related to investments in the biotechnology industry intends to use the proceeds from the offering for working capital. For more information, call Arthur Earl, president and chief executive officer, at 303-443-4338.

Wild Brain Inc. of San Francisco is raising $3.5 million through a Series C preferred stock financing. A minimum investment not is required on the placement. At the time of its SEC filing, the company had already raised $3 million from one accredited investor. The company, engaged in animation development and production, intends to use the proceeds from the offering for undisclosed purposes. For more information, call Jeffrey Fino, secretary, at 415-553-8000.

Universal Space Network Inc. of Newport Beach, Calif., is raising $2.02 million through a preferred stock financing. A minimum investment of $120 is required on the placement. The provider of satellite ground systems and related support intends to use the proceeds from the offering for working capital. For more information, call David Wopschall, chief financial officer and secretary, at 949-476-3432.

Trident Products Inc. of San Marcos, Calif., is raising $1.62 million through a preferred stock and convertible securities financing. A minimum investment of $6,000 is required on the placement. At the time of its SEC filing, the company had already raised $282,028 from one accredited investor. The manufacturer of pressure and vacuum thermoformed plastic and composite parts intends to use the proceeds from the offering for the repayment of debt, working capital, marketing and sales, and purchase, rental or leasing and installation of machinery and equipment. For more information, call Frank Stephen, secretary, at 760-510-1900.

Sage Network Solutions Inc. of Newport Beach, Calif., is raising $1 million through a convertible securities financing. A minimum investment is of $5,000 is required on the placement. Al Cohen of Colorado Springs, Colo., is acting as an agent for sales commissions of $100,000. At the time of its SEC filing, the company had already raised $69,000 from five accredited investors. The provider of satellite ground systems and related support intends to use the proceeds from the offering for the acquisition of other businesses and working capital. For more information, call Larry Messmer, president, at 949-459-0270.

Nx Light Inc. of Orem, Utah is raising $1 million through a Series A preferred stock financing. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised $345,000 from five accredited investors. The provider of software development, digital signature transaction facilitation and consulting services intends to use the proceeds from the offering for working capital. For more information, call Bruce Brown, secretary, at 801-852-0770.

Foundstone Inc. of Mission Viejo, Calif., is raising $1 million through a Series B1 preferred stock financing. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised $500,000 from one accredited investor. The provider of security assessment solutions intends to use the proceeds from the offering for working capital. For more information, call Gregg Marston, vice president of finance, at 949-450-5970.

Red Herring Communications Inc. of San Francisco raised $10 million from two accredited investors through a convertible securities financing. There was a minimum investment of $1.21 million required. The developer of communications technology intends to use the proceeds from the offering for working capital. For more information, call Joseph Shmulovich, chief financial officer, at 415-865-2277.

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