Regional Roundup 9-30-02

East

Rockwood Service Corp. of Greenwich, Conn., raised $5.4 million from 10 accredited investors through the sale of convertible subordinated 5-year notes. A minimum investment of $50,000 was required on the placement. The company, engaged in non-destructive testing and inspection services, intends to use the proceeds from the offering for debt repayment. For more information, call Harald Findlay, chief financial officer, at 203-869-6734.

Simplified Workforce Solutions Inc. of Chicago raised $254,998 from 11 accredited investors through a Series B convertible preferred stock round of financing. A minimum investment of $10,000 was required on the placement. The company, engaged in computer services, intends to use the proceeds from the offering for working capital. For more information, call Brian Hopcraft, president, at 312-640-1929.

FastChannel Network Inc. of Belmont, Mass., has filed to raise $12 million through a private placement of Series E preferred stock. At the time of its SEC filing, the company had already raised $11.3 million from 27 accredited investors. The advertising company intends to use the proceeds from the offering for working capital. For more information, call John Roland, president, at 617-489-2990.

Garden City Drive Investors LLC of Bethesda, Md., has filed to raise $1.2 million through the sale of Class A,B and C membership interests. Shelyn Securities Corp. of Rockville, Md., is placing the Class B interests for $26,000 in sales commission. The company, which plans to acquire, own, lease, operate and refinance, sell or transfer the Metro Building in Landover, Md., intends to use the proceeds from the offering for salaries, fees, purchase of real estate and working capital. For more information, call Peter Minshall, manager of Asset Capital Corp., at 301-656-2333.

Ovation Products Corp. of Nashua, N.H. has filed to raise $1.5 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $1 million from 17 accredited investors. The minimum investment of $25,000 required on the placement can be waived. The developer of water distillation equipment intends to use the proceeds from the offering for working capital and research and development. For more information, call William Lockwood, president and chief operating officer, at 603-891-3224.

Concentrix Corp. of Pittsford, N.Y., has filed to raise $1 million through the private placement of Series D preferred stock. A minimum investment of $951.2 is required on the placement. The company, engaged in software and Internet services, intends to use the proceeds from the offering for working capital. For more information, call John Magee, chief financial officer, at 585-218-5300.

Celox Networks Inc. of Southborough, Mass., has filed to raise $45 million through a Series A-1 convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $10 million from 17 accredited investors. A minimum investment of $7,000 is required on the placement. The company, engaged in creation of IP service switches, intends to use the proceeds from the offering for working capital. For more information, call John Rogers, executive officer, at 508-305-7000.

Insulet Corp. of Beverly, Mass., raised $22 million from 17 accredited investors through a Series C convertible preferred stock round of financing. The company, engaged in design, development and the manufacturing of patient drug delivery system, intends to use the proceeds from the offering for working capital. For more information, call Duane DeSisto, chief operating officer, at 978-299-0208.

NuGenesis Technologies Corp. of Westborough, Mass., has filed to raise $5 million through a Series G convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $4 million from 11 accredited investors. A minimum investment of $20,000 is required on the placement. The provider of software for analysis and storage of scientific data intends to use the proceeds from the offering for working capital. For more information, call Michael McGuinness, president, at 508-616-9876.

Open Ratings Inc. of Boston has filed to raise $9 million through a Series C convertible preferred stock offering. At the time of its SEC filing, the company had already raised $5 million from six accredited investors. A minimum investment of $30,000 was required on the placement. The provider of predictive performance management solutions intends to use the proceeds from the offering for working capital. For more information, call William Garfield, treasurer, at 617-232-9660.

Pintex Pharmaceuticals Inc. of Watertown, Mass., raised $7.3 million from nine accredited investors through a private placement of Series B convertible preferred stock. A minimum investment of $1,000 was required on the placement. The company, engaged in research for cancer diagnostics, intends to use the proceeds from the offering for working capital. For more information, call Janusz Sowadski, president, at 617-924-9200.

netDecide Corp. of Falls Church, Va., raised $6.5 million from 12 accredited investors through a private placement of Series A convertible 8% dividend preferred stock. The developer of software for financial services applications intends to use the proceeds from the offering for working capital, debt repayment and general corporate purposes. For more information, call John Calnan, chief financial officer, at 571-633-6000.

The Templar Corp. of Alexandria, Va., raised $1.7 million from 16 accredited investors through a Series A preferred stock round of financing. The provider of data sharing infrastructure software and services intends to use the proceeds from the offering for working capital. For more information, call Glenn Archer III, chief executive officer, at 703-548-0020.

Threewide.com Inc. of Morgantown, W.Va., has filed to raise $1.2 million through a Series B preferred stock offering. At the time of its SEC filing, the company had already raised $220,000 from three accredited investors. The developer of Internet-based software for the residential real estate industry intends to use the proceeds from the offering for working capital. For more information, call Mark Wise, president, at 304-594-8081.

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South

Radiation Shield Technologies Inc. of Miami has filed to raise $5 million through an offering of common stock. At the time of its SEC filing, the company had already raised $112,500 from two accredited investors. A minimum investment of $250,000 is required on the placement. The producer of radiation attenuation material intends to use the proceeds from the offering for working capital. For more information, call Ronald DeMeo, chief executive officer, at 305-416-3222.

Isochron Data Corp. of Austin, Texas raised $2 million from one accredited investor through a Series A preferred stock round of financing. The software provider intends to use the proceeds from the offering for working capital. For more information, call Eric Loeffel, chief executive officer, at 512-532-7344.

SAT Corp. of Houston has filed to raise $900,000 through an issuance of convertible promissory notes and warrants. At the time of its SEC filing, the company had already raised $882,500 from 15 accredited investors. The company, engaged in asset-tracking, data collection and integration solutions, intends to use the proceeds from the offering for working capital. For more information, call Lawrance McAfee, president, at 713-681-6600.

Waveset Technologies Inc. of Austin, Texas raised $13 million from 11 accredited investors through the private placement of Series C preferred stock. The Internet infrastructure software provider intends to use the proceeds from the offering for working capital. For more information, call Mark McClain, president, at 512-338-1818.

Wraser LLC of Ridgeland, Miss., has filed to raise $630,000 through a private placement of units LLC interests. At the time of its SEC filing, the company had already raised $210,000 from seven accredited investors. A minimum investment of $30,000 is required on the placement. An offering permits joint ownership of a single unit. The pharmaceutical company intends to use the proceeds from the offering for salaries, fees and working capital. For more information, call Heath Wray, chief executive officer, at 601-605-0664.

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Midwest

BrandMuscle Inc. of Beachwood, Ohio has filed to raise $750,000 through an issuance of promissory notes, convertible into Series D preferred stock. At the time of its SEC filing, the company had already raised $375,000 from five accredited investors. The Web-based application service provider intends to us the proceeds from the offering for working capital. For more information, call Philip Alexander, president, at 216-464-4342.

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West

Adept Technology Inc. of San Jose, Calif., raised $937,900 from 58 accredited and seven non-accredited investors through a private placement of common stock. The company, engaged in manufacturing and selling of automation products, intends to use the proceeds from the offering for working capital. For more information, call Michael Overby, chief financial officer, at 408-432-0888.

Affinity Internet Inc. of El Segundo, Calif., raised $4 million from 56 accredited investors through a private placement of preferred stock. The company, engaged in Internet related services, intends to use the proceeds from the offering for working capital. For more information, call John Zdanowski, vice president, at 310-524-3000.

BridgeWave Communications Inc. of Santa Clara, Calif., raised $4.8 million from 22 accredited investors through a Series D and D-1 preferred stock round of financing. The provider of wireless transceiver networking service intends to use the proceeds from the offering for salaries, fees and working capital. For more information, call Eli Pasternak, chief technical officer, at 408-567-6900.

FaceTime Communications Inc. of Foster City, Calif., raised $1 million from eight accredited investors through a private placement of convertible promissory notes. The company, engaged in software research and development, intends to use the proceeds from the offering for working capital. For more information, call Glen Vondrick, president and chief executive officer, at 650-574-1600.

Inktomi Corp. of Foster City, Calif., raised $2.3 million from two accredited investors through a common stock issuance. The developer of software intends to use the proceeds from the offering for debt repayment. For more information, call Randy Gottfried, chief financial officer, at 650-653-2800.

Intraop Medical Inc. of Santa Clara, Calif., has filed to raise $5 million through a Series D convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $3.8 million from 20 accredited investors. For more information, call Donald Goer, president, at 408-986-6020.

ProfitLine Inc. of San Diego raised $11.9 million from six accredited investors through a preferred stock round of financing. The company intends to use the proceeds from the offering for working capital. For more information, call Richard Valencia, president, at 858-452-6800.

Navin Communications Inc. of Mountain View, Calif., has filed to raise $2 million through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $1.6 million from 10 accredited investors. The developer of Internet software intends to use the proceeds from the offering for working capital. For more information, call Vinay Kantak, chief financial officer, at 650-210-3778.

Nove Technologies Inc. of El Segundo, Calif., raised $173,000 from nine accredited investors through a Series A preferred stock round of financing. The company intends to use the proceeds from the offering for working capital. For more information, call Matthew Holcomb, president and chief executive officer, at 310-796-0715.

NuCORE Technology Inc. of Sunnyvale, Calif., raised $2.8 million from eight accredited investors through an offering of secured convertible promissory notes and warrants. The developer of imaging devices for digital image capture intends to use the proceeds from the offering for working capital. For more information, call James Chapman, chief executive officer, at 408-907-7100.

Omneon Video Networks Inc. of Sunnyvale, Calif., has filed to raise $1.5 million through convertible promissory note and warrant bridge round of financing. At the time of its SEC filing, the company had already raised $900,000 from seven accredited investors. The software developer intends to use the proceeds from the offering for working capital. For more information, call Larry Kaplan, chief executive officer, at 408-585-5000.

Onsite Power Systems Inc. of Camarillo, Calif., has filed to raise $1 million through the private placement of common stock. At the time of its SEC filing, the company had already raised $25,000 from one non-accredited investor. A minimum investment of $1,000 is required on the placement. The company, engaged in sale of anaerobic digester systems, intends to use the proceeds from the offering for working capital. For more information, call David Konwinski, at 805-484-0775.

Bill Barrett Corp. of Denver raised $27.5 million from 102 accredited investors and 33 non-accredited investors through an offering of Series A preferred stock. The company, engaged in the natural gas exploration and production, intends to use the proceeds from the offering for purchase of real estate and debt repayment. For more information, call Robert Howard, chief financial officer, at 303-293-9100.

The Noodle Shop Co. Boulder, Colo., has filed to raise $10 million through a private placement of common stock. At the time of its SEC filing, the company had already raised $5.2 million from two accredited investors. The owner of noodle restaurants intends to use the proceeds from the offering for purchase, rental or leasing and installation of machinery and equipment, construction or leasing of plant buildings and facilities, working capital and general corporate expenditures. For more information, call Mary Beth Lewis, chief financial officer, at 720-214-1900.

ZeroNines Technology Inc. of Castle Road, Colo., has filed to raise $1.5 million through the private placement of units of common stock and warrants. At the time of its SEC filing, the company had already raised $190,000 from two accredited investors. A minimum investment of $25,000 is required on the placement. The developer of a disaster recovery solutions intends to use the proceeds from the offering for working capital. For more information, call John Botdorf, chairman, at 303-814-8121.

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