Regional Roundup 8-13-01

East

Redox Pharmaceutical Corp. of Greenvale, N.Y., is raising $12 million through a private placement of common stock including Series A and Series B warrants. At the time of its SEC filing, the company had already raised approximately $2.2 million from 11 accredited investors. The researcher, developer and applicator of transition metal complexes that are both anti-inflammatory and antiviral, intends to use a majority of the proceeds from the offering for working capital, professional fees and clinical testing.

Coriolis Networks Inc. of Boxborough, Mass., is raising just over $10.18 million through a private placement of convertible securities. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised $10 million from six accredited investors. The company 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.

Wall Street At Home.com Inc. of Jericho, N.Y., is raising $10 million through a private placement of Series A preferred stock. A minimum investment is not required. Marquis Financial Services of Indiana Inc. of New York is acting as the agent on the placement for an undisclosed finders’ fee. At the time of its SEC filing, the company had already raised approximately $1.84 million from 34 accredited investors. The provider of research services relating to the information technology industry intends to use the proceeds from the offering for working capital, NASD membership, advertising and promotion.

TradingScreen Inc. of New York is raising $8.31 million through a private placement of Series B convertible preferred stock. There is no minimum investment required. At the time of its SEC filing, the company had already raised approximately $5.5 million from two accredited investors. The Internet-based system for electronic trading, distribution and clearing/settlement of securities and other financial products intends to use the proceeds from the offering for working capital.

Tecumseh Holding Corp. of Edgewater, N.J., is raising $7.5 million through a private placement of common stock. There is a minimum investment of $2,500 required on the placement. At the time of its SEC filing, the company had already raised approximately $1.34 million from 188 accredited investors. The company engaged in the acquisition and ownership of a securities broker-dealer intends to use the proceeds from the offering for working capital, the acquisition of other businesses, the construction or leasing of plant buildings and facilities, the repayment of indebtedness and the purchase, rental or leasing and installation of machinery and equipment.

Webloyalty.com Inc. of Norwalk, Conn., raised just over $5 million from eight accredited investors through an issuance and sale of Series D preferred stock. There is no minimum investment required on the placement. The marketer of products and services via the Internet intends to use the proceeds from the offering for working capital.

Demegen Inc. of Pittsburgh is raising approximately $4 million through a private placement of common stock including warrants. There is a minimum investment of $10,000 required. Baird, Patrick & Co. Inc. of New York and C.E. Pfeifer & Co. of Pittsburgh are acting as the agents on the placement for finders’ fees of just over $60,000. At the time of its SEC filing, the company had already raised just over $1.2 million from 55 accredited investors. The company, which discovers, designs and develops peptides, proteins and genes for the treatment of solid tumors, cystic fibrosis, multi-drug resistant bacteria and fungi. It intends to use the proceeds from the offering for working capital.

The Kiss Me Kate Touring Co. of New York is raising $3.5 million through a private placement of common stock. There is no minimum investment required on the placement. At the time of its SEC filing, the issuer had already raised just over $2.6 million from 23 accredited investors. The theatrical production company intends to use the proceeds from the offering for working capital, advertising and publicity.

US PowerSolutions Corp. of Cambridge, Mass., is raising $3.5 million through a private placement of convertible securities. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised just over $2.85 million from 12 accredited investors. The designer, developer, producer and seller of software intends to use the proceeds from the offering for working capital.

Standard MEMS Inc. of Burlington, Mass., is raising $2.5 million through a private placement of Series D convertible 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 $1.5 million from one accredited investor. The company, which provides product design, semiconductor fabrication, end-product packaging and systems integration to the general marketplace intends to use the proceeds from the offering for working capital.

Optelics Inc. of Berkeley Heights, N.J., is raising $2 million through an issuance of Series A convertible preferred stock. At the time of its SEC filing, the company had already raised $0.5 million from six accredited investors. The designer, developer, marketer and seller of high-speed semiconductor solutions for communication systems intends to use the proceeds from the offering primarily for working capital.

Reslynx Inc. of Philadelphia raised $2 million from two accredited investors through a private placement of Series A preferred stock. A minimum investment of $50,000 was required. The developer of a proprietary process to market telecommunications services intends to use the proceeds from the offering for working capital.

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South

S Data Authority Inc. of Boca Raton, Fla., is raising $4.82 million through an issuance and sale of common stock and warrants. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised just over $620,000 from one accredited investor. The high-speed network service provider intends to use the proceeds from the offering for working capital.

Guarded Networks Inc. of Hollywood, Fla., is raising just over $1.5 million through a private placement of Series A convertible preferred stock. A minimum investment of $30,000 is required on the placement. At the time of its SEC filing, the company had already raised approximately $1.05 million from 20 accredited investors. The provider of computer network security services intends to use the proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, working capital, sales and marketing.

E.H. Partners Inc. of West Palm Beach, Fla., is raising $1.5 million through a private placement of common stock. At the time of its SEC filing, the company had already raised $250,000 from three accredited investors. The company engaged in the business of owning and operating a motorcycle manufacturing company through an affiliated entity intends to use the proceeds from the offering for working capital.

Thione International Inc. of Atlanta is raising $1 million through an issuance of common stock. There is a minimum investment of $2,500 required. At the time of its SEC filing, the company had already raised $999,000 from 32 accredited investors. The deliverer of interactive events over the Internet by means of participant software intends to use the proceeds from the offering for working capital.

Elumens Corp. of Cary, N.C., raised just over $6.47 million from five accredited investors through a private placement of Series D preferred stock. A minimum investment of $250,000 was required. The manufacturer of 3-D digital projection systems intends to use the proceeds from the offering for working capital.

401 Exchange.com Inc. of Lake Worth, Fla., raised approximately $3.6 million from 15 accredited investors through a private placement Series C convertible preferred stock. The company, which provides market share information to the 401(k) industry, intends to use the proceeds from the offering for working capital.

Agari Mediware Inc. of McLean, Va., raised approximately $1.05 million from 10 accredited investors through an issuance and sale of Series C preferred stock and convertible securities. The provider of media management technologies intends to use the proceeds from the offering for working capital.

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Midwest

Organized Living Inc. of Lenexa, Kan., is raising $17.5 million through a private placement of Series E convertible preferred stock. A minimum investment of $10,000 is required. Saunders Karp & Megrue LP of Connecticut is acting as the agent on the placement for a finders’ fee of $420,000. At the time of its SEC filing, the company had already raised just over $15 million from two accredited investors. The specialty retailer of consumer goods intends to use the proceeds from the offering for working capital, the purchase or leasing of equipment and the construction or leasing of facilities and the repayment of indebtedness.

Abrotext Inc. of Ann Arbor, Mich., is raising $12 million through a private placement of Series C convertible 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 $7 million from six accredited investors. The software developer intends to use the proceeds from the offering for working capital.

Higher Dimension Medical Inc. of Saint Paul, Minn., is raising approximately $2.4 million through a private placement of common stock. There is a minimum investment of $6,000 required. At the time of its SEC filing, the company had already raised $60,000 from four accredited investors. The developer and marketer of puncture and cut resistant materials for various applications in the medical, industrial and consumer protective apparel markets intends to use the proceeds from the offering for working capital and the purchase, rental or leasing and installation of machinery and equipment.

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Vertical Computer Systems Inc. of Los Angeles is raising $10.25 million through a private placement of common stock including warrants to buy common stock. A minimum investment is not required. The e-commerce solutions provider intends to use the proceeds from the offering for working capital.

Bon Manage Inc. of Bothell, Wash., is raising approximately $5.04 million through a private placement of 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 raised just over $23,000 from one accredited investor. The manufacturer of oral health products intends to use the proceeds from the offering for working capital.

Gluon Networks Inc. of Petaluma, Calif., is raising $4 million through a private placement of Series convertible securities. At the time of its SEC filing, the company had already raised just over $2 million from two accredited investors. The telecommunications equipment manufacturer intends to use the proceeds from the offering for equipment installation, marketing, inventory purchase, Web development, repayment of indebtedness and working capital.

Complexions Rx Inc. of La Jolla, Calif., is raising approximately $3.21 million through a private placement of common stock and Series A preferred stock. A minimum investment of $1.05 million is required on the placement. At the time of its SEC filing, the company had already raised just over $1.41 million from 10 accredited investors. The cosmetics company intends to use the proceeds from the offering for working capital.

Protein Polymer Technologies Inc. of Campbell, Calif., is raising approximately $3 million through a private placement of Series H preferred stock and common stock with warrants. There is a minimum investment of approximately $15,000 required. At the time of its SEC filing, the company had already raised approximately $1.22 million from two accredited investors. The biotechnology research and development company intends to use the proceeds from the offering for the repayment of indebtedness and working capital.

Videolocity International Inc. of Park City, Utah, is raising $2.5 million through a private placement of Series B preferred stock with voting rights. A minimum investment of $5,000 is required. The business intends to use the proceeds from the offering for working capital.

Caresoft Inc. of Sunnyvale, Calif., is raising approximately $1.71 million through a private placement of convertible securities including warrants. A minimum investment is not required on the placement. At the time of its SEC filing, the company had already raised $1 million from one accredited investor. The developer of technologies for health management intends to use the proceeds from the offering for working capital.

Kinetikos Medical Inc. of San Diego is raising $1.5 million through a private placement of Series C preferred stock. A minimum investment of $25,000 was required. At the time of its SEC filing, the company had already raised $487,700 from five accredited investors. The designer and producer of medical implants, which focus exclusively on the extremities, intends to use proceeds from the offering for working capital and the repayment of indebtedness.

Powerball International Inc. of West Valley City, Utah, is raising approximately $1.01 million through a private placement of Series C preferred stock. A minimum investment of $10,000 was required. Growth Capital Solutions LLC of New York is acting as the agent on the placement for an undisclosed commission. The researcher and marketer of hydrogen generation technology and products intends to use proceeds from the offering for working capital and the purchase, rental or leasing and installation of machinery and equipment.

The OZ Entertainment Co. of Los Angeles is raising $1 million through a private placement of convertible securities. A minimum investment of $1,000 is required. The entertainment and theme park development company intends to use proceeds from the offering for working capital, legal fees and other corporate purposes.

New Century Financial Corp. of Irvine, Calif., raised just over $15 million from 12 accredited investors through a private placement of common stock. A minimum investment of $104,000 was required. Friedman, Billings, Ramsey & Co. Inc. of Virginia acted as an agent on the placement for a finders’ fee of $850,962. The specialty finance company that purchases, sells and services sub-prime mortgage loans secured primarily by first mortgages on single family residences intends to use the proceeds from the offering for working capital.

Regents Bancshares Inc. of Vancouver, Wash., raised $12.5 million from 11 accredited investors through the private placement of common stock. A minimum investment was not required on the placement. The bank holding company intends to use the proceeds for working capital and investment in bank subsidiaries.

Sawyermedia Inc. of San Francisco raised just over $8.13 million from four accredited investor through a private placement of Series B convertible preferred stock. The assistant in production, management and distribution of rich media intends to use the proceeds from the offering toward the repayment of indebtedness and working capital.

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