Regional Roundup 6/25/01

East

ReliCore Inc. of Burlington, Mass., is raising $11 million through a private placement of Series A preferred stock and warrants. There is no minimum investment required. At the time of its SEC filing, the company had already raised $10.75 million from six accredited investors. The company intends to use a majority of the proceeds from the offering for working capital.

Flemington Pharmaceutical Corp. of Flemington, N.J., is raising $10 million through a private placement of common stock. There is a minimum investment of $100,000 required. At the time of its SEC filing, the company had already raised approximately $1.7 million from 14 accredited investors. The company which engages in consulting activities and the development of novel applications of its drug delivery systems for presently marketed prescription and over-the-counter drugs, intends to use the proceeds from the offering for working capital and the development of lingual products and sprays through NDA approval and IND filing.

CardioClasp Inc. of Hillsborough, N.J., is raising approximately $4.63 million through a private placement of Series B convertible preferred stock and convertible securities with warrants. At the time of its SEC filing, the company had already raised just over $3.39 million from six investors. The developer of passive devices for the treatment of congestive heart failure intends to use the proceeds from the offering for the repayment of indebtedness, working capital and general corporate purposes.

FirstRain Inc. of New York is raising just over $3.73 million through an issuance and sale of common stock and convertible securities. There is a minimum investment of $10,000 required on the placement. At the time of its SEC filing, the company had already raised $400,000 from two accredited investors. In an additional offering, the company is raising $1.7 million through a private placement of convertible securities and, by the time of that filing, had already raised $1 million from one accredited investor. The Internet infrastructure company intends to use proceeds from both offerings for working capital.

LiveWave Inc. of Newport, R.I., is raising approximately $2.55 million through a private placement of Series C convertible preferred stock. There is no minimum investment required. Visionary Capital LLC of Philadelphia is acting as the agent on the placement for an undisclosed commission. At the time of its SEC filing, the company had already raised approximately $1.55 million from three accredited investors. The convergence broadcasting network intends to use the proceeds from the offering for working capital.

Southside Holdings Inc. of Pittsburgh is raising $2 million through a private placement of 4 million shares of Class B common stock. There is a minimum investment of $10,000 required on the placement. At the time of its SEC filing, the company had already sold $385,000 worth of the securities to 14 accredited investors. The holding company intends to use the proceeds from the offering for working capital, salaries and fees.

Advanced Interface Technologies Inc. of State College, Pa., is raising $1.75 million through a private placement preferred stock. At the time of its SEC filing, the company had already raised $200,000 from five accredited investors and two non-accredited investors. The start-up technology company intends to use a majority of the proceeds from the offering for fees and expenses.

Integrated Delivery Solutions Inc. of Westbrook, Conn., is raising $1.5 million through a private placement of Series A convertible preferred stock. At the time of its SEC filing, the company had already raised $500,000 from one accredited investor. The developer and integrator of dispatch optimizing solutions for short-haul fleets intends to use a majority of the proceeds from the offering for working capital, salaries, fees, repayment of indebtedness, the purchase, rental or leasing and installation of machinery and equipment and the construction or leasing of plant buildings and facilities.

Acallto Inc. of Boston is raising $1 million through a private placement Series B convertible preferred stock. There is no minimum required on the placement. At the time of its SEC filing, the company had already raised $205,000 from seven accredited investors. The provider of software development products and applications intends to use the proceeds from the offering for working capital.

Lantica Software of Newtown, Pa., is raising $1 million through a private placement of Class C interests. There is a minimum of $10,000 required on the placement. At the time of its SEC filing, the company had already raised $525,000 from four accredited investors and eight non-accredited investors. The developer, seller and marketer of PC-based database management software intends to use the proceeds from the offering for research and development, marketing and advertising, manufacturing, working capital and the repayment of indebtedness.

Lyrrus Inc. of Philadelphia raised approximately $14.96 million from 23 accredited investors through a private placement of common stock. There was a minimum investment of $100,000 required. Nick Brown of Locust, N.J., is acting as the agent on the placement for an undisclosed findersí fee. The manufacturer and seller of interactive hardware and software intends to use the proceeds from the offering primarily for working capital.

Auxilium A2 Inc. of Norristown, Pa., raised $10 million from two accredited investors through a private placement of Series A preferred stock. There was no minimum investment required on the placement. The pharmaceuticals company intends to use the proceeds from the offering primarily for working capital.

Science Dynamics Corp. of Cherry Hill, N.J., raised $1.2 million from three accredited investors through an issuance of convertible securities. A minimum investment of $100,000 was required. The designer and marketer of telecommunications systems intends to use the proceeds from the offering for working capital, salaries, fees and the purchase, rental or leasing and installation of machinery and equipment.

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South

Air2Lan Inc. of Jackson, Miss., is raising $2.5 million through the issuance and sale of Series B preferred stock. There is no minimum investment required. At the time of its SEC filing, the company had already raised $875,000 from one accredited investor. The broadband Internet wireless communications company intends to use the proceeds from the offering for share exchange.

BBH Exhibits Inc. of San Antonio is raising just over $1.66 million through a private placement of common stock and subscription rights to purchase common stock. A minimum investment is required on the placement. At the time of its SEC filing, the company had already raised just over $271,887 from five accredited investors. The designer of travelling museum exhibits intends to use the proceeds from the offering for working capital, including general operating costs and business development.

Sweepsclub.com Inc. of Deerfield, Fla., is raising $1.25 million through a private placement of Series C convertible preferred common and warrants to purchase common stock. A minimum investment of $200,000 is required. At the time of its SEC filing, the company had already raised approximately $800,000 from one accredited investor. The online promotions company intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

Kingís Ridge Joint Venture Inc. of San Antonio is raising $1.17 million through a private placement. There is a minimum investment of $39,000 required. The Champion Group Inc. is acting as the agent on the placement for a $176,000 commission. At the time of its SEC filing, the company had already raised $20,000 from four accredited investors. The Texas joint venture organized to drill oil and gas wells intends to use the proceeds from the offering for the purchase of real estate and well drilling and completing costs.

Sidus Financial Corp. of Greenville, N.C., is raising $1.02 million through an issuance of preferred stock. At the time of its SEC filing, the company had already raised just over $550,000 from 15 accredited investors. The residential mortgage lender and broker intends to use the proceeds from the offering for working capital.

Btrade.com Inc. of Irving, Texas, raised approximately $11.37 million from 17 accredited investors through an issuance of Series C convertible redeemable preferred stock. The issuer, which deploys e-business networks, intends to use the proceeds from the offering for working capital.

EMS Technologies Inc. of Norcross, Ga., raised approximately $11.28 million from seven accredited and non-accredited investors through an issuance and sale of common stock. The provider of wireless communications equipment intends to use the proceeds from the offering for the acquisition of other businesses.

Network Storage Solutions Inc. of Chantilly, Va., raised $7 million from 44 accredited investors through the issuance and sale of Series A convertible preferred stock. There was a minimum investment of $5,000 required on the placement. The seller of network-attached storage products intends to use the proceeds from the offering for the repayment of indebtedness and working capital.

Sideware Systems Inc. of Reston, Va., raised $4.1 million from 17 accredited investors through an issuance of common stock. A minimum investment of $20,000 was required. Brian Cohn Inc. of Washington, D.C. acted as the agent on the placement for a $270,600 commission. The software development company intends to use the proceeds from the offering for working capital.

NetASPx. Inc. of Herndon, Va., raised $2.5 million from four accredited investors through a private placement of common stock and convertible securities. A minimum investment was not required. The application service provider utility intends to use the proceeds from the offering for the acquisition of other businesses.

E-merge Technologies Inc. of Miami raised $1.6 million from one non-accredited investor and three accredited investors through a private placement common stock and convertible securities. There was a minimum investment of $25,000 required on the placement. The issuer intends to use the proceeds from the offering for working capital and the repayment of indebtedness.

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Midwest

LightSource Telecom of Cleveland is raising $15.08 million through a private placement. There is a minimum investment of $58,000 required on the placement. At the time of its SEC filing, the company had already raised just over $3.44 from 15 accredited investors. The developer of telecommunications technologies and systems intends to use the proceeds from the offering for working capital.

PJ Squares of Ellyn, Ill., is raising $2.1 million through a private placement of Class C interests. There is a minimum investment of $100,000 required on the placement. The manufacturer and distributor of sliced peanut butter and jelly products intends to use the proceeds from the offering for the repayment of indebtedness and working capital.

Telemetric Corp. of Boise, Idaho, raised $1.7 million from two accredited investors through a private placement of Series A preferred stock. There was a minimum investment of $200,000 required on the placement. The producer of wireless remote monitoring for equipment and machinery intends to use the proceeds from the offering for working capital and retirement of debt.

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West

eVineyard Inc. of Portland, Ore., is raising $15 million through a private placement of preferred stock and convertible securities. A minimum investment of $25,000 is required on the placement. At the time of its SEC filing, the company had already raised just over $3.83 million from 14 accredited investors. The wine e-tailer intends to use the proceeds from the offering for working capital.

Widevine Technologies Inc. of San Diego is raising $10.94 million through a private placement of convertible securities. At the time of its SEC filing, the company had already raised just over $9.2 million from six accredited investors. The software development firm intends to use the proceeds from the offering for working capital.

Carside Inc. of Culver City, Calif., is raising $10 million through a private placement of convertible securities. A minimum investment of $25,000 is required. Dougherty & Co., LLC of Minneapolis is acting as the agent on the placement for a $700,000 commission. At the time of its SEC filing, the company had already raised just over $8 million from 47 accredited investors. The company intends to use the proceeds from the offering for working capital, sales and marketing, product enhancements, additional test expenses and operating expenses.

IZOIC Inc. of Englewood, Colo., is raising approximately $5 million through a private placement of Series A preferred stock. There is a minimum investment of approximately $30,795 on the placement. At the time of its SEC filing, the company had already raised $4 million from six accredited investors. The company intends to use the proceeds from the offering for working capital.

Matrix Concepts Inc. of Irvine, Calif., is raising $4.5 million through a private placement of common stock. At the time of its SEC filing, the company had already raised $2.55 million from 16 accredited investors. The issuer intends to use the proceeds from the offering for working capital.

Electro-Lock Technologies Inc. of Solana Beach, Calif., is raising $3 million through a private placement of Series A preferred stock and convertible securities. A minimum investment of $10,000 is required on the placement. At the time of its SEC filing, the company had already raised $250,000 from one accredited investor and 11 non-accredited investors. The electronic component research and development firm intends to use the proceeds from the offering for working capital.

ProtoSource Corp. of Fresno, Calif., is raising $3 million from six accredited investors through a private placement of common stock and warrants. There is a minimum investment of $50,000. The Internet service provider intends to use the proceeds from the offering for working capital.

Roxio Inc. of Milpitas, Calif., is raising approximately $3 million through a private placement of common 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 $2 million from one accredited investor. The provider of digital media and system recovery software products intends to use proceeds from the offering for working capital.

Mosaic.TV Inc. of Denver is raising just over $2.6 million through the private placement of Series A convertible preferred stock. At the time of its SEC filing, the company had already raised just over $500,000 from 15 accredited investors. The developer of television and Internet content intends to use the proceeds for working capital.

Acuscape International Inc. of Glendora, Calif., is raising $1.86 million through the private placement of common stock, convertible securities and warrants. There is a minimum investment of $25,000 required on the placement. At the time of its SEC filing, the company had already raised just over $25,000 from one accredited investor. The provider of dimensional digital marketing services intends to use the proceeds from the offering for working capital.

Roy-G-Biv Corp. of Bigen, Wash., is raising approximately $1.05 million through a private placement of Series A preferred stock. There is a minimum investment of $25,000 required. At the time of its SEC filing, the company had already raised just over $523,942 from 11 accredited investors. The software and development firm intends to use the proceeds from the offering salaries, fees and working capital.

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