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Regional Roundup 9-24-01

East

Universal Display Corp. of Ewing, N.J., is raising $10 million through a private placement of Series B convertible preferred stock. There is a minimum investment of $10 million required. At the time of its SEC filing, the issuer had already raised approximately $5 million from one accredited investor. Gerard Klauser Mattison & Co. Inc. is acting as the agent on the placement for an undisclosed sales commissions. The provider of research, development and commercialization of organic light emitting diode technology for use in flat panel displays, lasers and light-generating devices intends to use the proceeds from the offering for working capital.

Roving Software Inc. of Needham, Mass., is raising approximately $6.18 million through a private placement of Series C convertible preferred stock. There is no minimum investment required. At the time of its SEC filing, the company had already raised just over $5 million from seven accredited investors. Saturn Capital Inc of Boston is acting as the agent on the placement for an undisclosed commission. The computer software developer intends to use the proceeds from the offering for the construction or leasing of plant buildings and facilities, working capital and repayment of indebtedness.

Eurpsville USA Inc. of Port Washington, N.Y., is raising $3 million through a private placement of common stock. There is a minimum investment of $30,000 required. At the time of its SEC filing, the company had already raised approximately $1.06 million from 38 accredited and non-accredited investors. KSH Investment Group Inc. of New York is acting as the agent on the placement for $240,000 commission. The seller and distributor of toys, books and CD-ROMs intends to use the proceeds from the offering for working capital and repayment of indebtedness.

InCert Software Corp. of Cambridge, Mass., is raising approximately $2 million through a private placement of Series D preferred stock and warrants. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised $1 million from 12 accredited investors. The software developer, which assists organizations in maximizing e-business application availability, intends to use the proceeds from the offering for working capital.

Versient Inc. of Hunt Valley, Md., is raising $2 million through a private placement of convertible preferred stock including common stock warrants. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised just over $1.96 million from 13 accredited investors. The Internet-based commercial printing management firm intends to use the proceeds from the offering for working capital.

Benefitdecisions.com Inc. of Hummelstown, Pa., is raising approximately $1.86 million through a private placement of Series A convertible 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 just over $400,818 from six accredited investors. The provider of technology systems and solutions involved in processing transportation transactions and information management intends to use the proceeds from the offering for working capital.

Advanced Interfaced Technologies Inc. of State College, Pa., is raising $1.75 million through a private placement of Series A preferred stock. At the time of its SEC filing, the company had already raised just over $431,000 from 12 accredited and non-accredited investors. The start-up technology company intends to use a majority of the proceeds from the offering for working capital and the construction or leasing of plant facilities.

LeMaitre Vascular Inc. of Burlington, Mass., is raising $1.25 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 $12,500 from one accredited investor. The manufacturer and seller of endovascular, catheter-based disposable medical devices, intends to use the proceeds from the offering for working capital.

SOFTRAX Corp. of Canton, Mass., is raising $1 million through a private placement of convertible securities. A minimum investment of $4,556 is required. At the time of its SEC filing, the company had already raised $880,893 from eight accredited investors. The developer, marketer and supporter of e-business infrastructure software and e-services companies intends to use the proceeds from the offering for working capital.

Light Trade Inc. of Washington raised $7 million from four accredited investors through a private placement of Class A preferred stock, notes and warrants. The company, which deploys and operates neutral pooling points that enable bandwidth delivery, intends to use the proceeds from the offering primarily for working capital.

Electronic Managed Account Technologies Inc. of Malvern, Pa., raised $2.5 million from 20 accredited investors through a private placement of common stock. The brokerage operations and managed account technology company, intends to use the proceeds from the offering for working capital.

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South

Linc.net Inc. of Miami is raising $10 million through an issuance of common and preferred stock. There is no minimum investment required on the placement. At the time of its SEC filing, the company had already raised approximately $7.25 million from two accredited investors. The provider of network infrastructure services to the communications industry intends to use the proceeds from the offering for working capital.

Rivercrest Golf Corp. of Houston is raising just over $6 million through a private placement of common stock. A minimum investment of $50,000 is required on the placement. The golf course management company intends to use the proceeds from the offering for repayment of indebtedness, working capital, infomercial and marketing costs, inventory, due diligence costs and the acquisition of other businesses.

Errol Estate Country of Apopka, Fla., is raising $4.05 million. There was no minimum investment required on the placement. At the time of its SEC filing, the company had already raised $2.5 million from 35 accredited and non-accredited investors. The ownership and operation of golf and country club intends to use the proceeds from the offering for working capital and the acquisition of assets.

Response Network Inc. of Alexandria, Va., is raising $4.75 million through a private placement of Series D 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 $4 million from 27 accredited investors. The developer of transaction performance analysis software intends to use the proceeds from the offering for working capital.

Ophidian Pharmaceuticals Inc., of Charlottesville, Va., is raising $4 million through a private placement of convertible securities. A minimum investment of $50,000 is required. At the time of its SEC filing, the company had already raised approximately $525,000 from nine accredited investors. The provider of medical devices intends to use the proceeds from the offering for working capital and product development.

Yclip Corp. of Austin, Texas, is raising approximately $3.77 million through a private placement of convertible securities. At the time of its SEC filing, the company had already raised approximately $3 million from seven accredited investors. The provider of Internet consulting services intends to use the proceeds from the offering for working capital.

State Trust Investments Inc. of Miami is raising $2.15 million through a private placement of common stock. A minimum investment of $25,000 was required. At the time of its SEC filing, the company had already raised $897,022 from five accredited investors. The securities broker/dealer 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.

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Midwest

Spotlight Solutions Inc. of Mason, Ohio, is raising approximately $13.44 million through a Series C preferred offering. There is a minimum investment of $44,347 required on the placement. At the time of its SEC filing, the company had already raised $11.44 million from 14 accredited investors. The software developer and seller intends to use the proceeds from the offering for working capital, the purchase, rental or leasing and installation of machinery and equipment, repayment of indebtedness, and the construction or leasing of plant buildings and facilities.

American Educational Telecommunications of Omaha is raising $4.25 million in a convertible securities financing. A minimum investment of $20,000 is required on the placement. At the time of its SEC filing, the company had already raised approximately $3.52 million from ten accredited investors. The company, engaged in the business of providing distance education, telemedical and other services internationally and in the U.S. intends to use the proceeds from the offering for working capital.

Iglo-Tel Inc. of Detroit is raising $3 million through a private placement of common stock. CIC Productions Inc. of Culver City, Calif., is acting as the agent on the placement for a finder?s fee of $300,000. At the time of its SEC filing, the company had already raised $235,000 from 16 accredited investors. There is no minimum investment required on the placement. The developer, marketer, and seller of Internet telephony equipment and services, intends to use the proceeds from the offering for working capital, marketing, media production, telemarketing, inventory, product development, and the purchase, rental or leasing and installation of machinery and equipment.

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West

Gluon Networks Inc. of Petaluma, Calif., is raising $14 million through a private placement of convertible securities including preferred stock. There is a minimum investment of $5,000 required on the placement. At the time of its SEC filing, the company had already raised just over $12 million from two accredited investors. The telecommunications equipment manufacturer intends to use the proceeds from the offering for working capital.

Biogentec Inc. of Costa Mesa, Calif., is raising just over $10 million through a private placement of common stock and Series A preferred stock. A minimum investment of $108,000 is required. Canon Securities LLC of Irvine is acting as the agent on the placement for sales commissions of $900,000. At the time of its SEC filing, the company had already raised just over $1.41 million from ten accredited investors. The biotech product developer intends to use the proceeds from the offering for R&D, working capital, sales and marketing, repayment of indebtedness, acquisition of other businesses, construction or leasing of plant buildings and facilities, and the purchase, rental or leasing and installation of machinery and equipment.

Loancity.com of San Jose, Calif., is raising just over $10.25 million through a Series D preferred stock financing. A minimum investment of $10,000 is required on the placement. At the time of its SEC filing, the company had already raised approximately $3.16 million from one accredited investor. The residential mortgage broker intends to use the proceeds from the offering for working capital.

Anark Corp. of Boulder, Colo., is raising approximately $8.05 million through a private placement of convertible securities, including B-1 preferred stock. At the time of its SEC filing, the company had already raised $500,000 from two accredited investors. The software developer intends to use the proceeds from the offering for working capital.

Enalasys Inc. of Calexico, Calif., is raising $5 million through a private placement of convertible securities. A minimum investment of $20,000 is required. At the time of its SEC filing, the company had already raised $1.12 million from three accredited investors. The developer and manufacturer of products that diagnose and monitor the ongoing energy efficiencies of air conditioning and heat pumps, intends to use the proceeds from the offering for working capital, construction or leasing of plant buildings and facilities, research and development and sales and marketing.

Blade Internet Ventures Inc. of Las Vegas is raising $2.25 million through a private placement of common stock. At the time of its SEC filing, the company had already raised $896,925 from 27 accredited investors. The company, which is in the electronic commerce business, intends to use the proceeds from the offering for working capital, Web site development, advertising, and the acquisition of capital assets.

Collier HyTech of Reno, Nev., is raising $2 million through equity financing. There is a minimum investment of $12,500 required on the placement. At the time of its SEC filing, the company had already raised approximately $1.3 million from 21 accredited investors. The researcher, developer, and marketer of engines intends to use proceeds from the offering for the purchase, rental or leasing and installation of machinery and equipment, research and development, marketing expenses, and the repayment of indebtedness.

Bioreason Inc. of Santa Fe is raising approximately $1.5 million through a private placement of Series D preferred stock. At the time of its SEC filing, the company had already raised approximately $1.42 million from 10 accredited investors. The developer of proprietary data mining tools and applications for chemical and biological information intends to use the proceeds from the offering for working capital.

Alphalab Ventures of Corona Del Mar, Calif., is raising $1 million. A minimum investment of $10,000 was required on the placement. At the time of its SEC filing, the company had already raised $21,000 from four accredited investors. The issuer formed to purchase a minority interest in Venturelab Partners LLC intends to use the proceeds from the offering to purchase units of other businesses.

Alternative Link Inc. of Las Cruces, N.M., is raising $1 million through an issuance and sale of common stock. A minimum investment was not required on the placement. The developer of codes and electronic systems for alternative medicine and nursing intends to use proceeds from the offering for working capital and expansion of marketing.

Capital Growth Planning Inc. of El Cajon, Calif., is raising $1 million through a private placement preferred stock. A minimum investment of $10,000 is required on the placement. The fully diversified investment and financial services company intends to use proceeds from the offering for working capital and repayment of indebtedness.

Provato Inc. of Oakland, Calif., raised just over $15 million from 21 accredited investors through a private placement of Series C convertible preferred stock and convertible securities including warrants. Peacock, Hislop, Staley & Given Inc. of Phoenix acted as the agent on the placement for sales commissions of $1.05 million. The company intends to use the proceeds from the offering toward the purchase, rental or leasing and installation of machinery and equipment, construction or leasing of plant buildings and working capital.

Door to Door Storage Inc. of Kent, Wash., raised approximately $1.64 million from 30 accredited investors through a Class B convertible preferred stock financing. A minimum investment was not required on the placement. The mobile storage company intends to use the proceeds for working capital.

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