regional12_22_03

East

Broadbus Technologies Inc. of Boxborough, Mass., has filed to raise $25 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $23 million from 10 accredited investors. The software developer intends to use the proceeds from the offering for working capital. For more information, call Scott Bryce, treasurer, at 978-264-7900.

Hydra Biosciences Inc. of Cambridge, Mass., has filed to raise $18.9 million through a Series B convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $14.3 million from 24 accredited investors. The biopharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Laurie Keating, executive vice president, at 617-494-5230.

Lincoln Technologies Inc. of Wellesley, Mass., raised $393,486 from eight accredited and one non-accredited investors. A minimum investment of $10,000 was required on the placement. The software developer focused on support for drug development companies intends to use the proceeds from the offering for working capital. For more information, call Channing Russell, president, at 781-237-3800.

OpenService Inc. of Westborough, Mass., raised $8 million from 20 accredited investors through a Series C convertible preferred stock round of financing. The software developer intends to use the proceeds from the offering for working capital. For more information, call Theodore Joseph, president, at 508-366-0804.

Avatech Solutions Inc. of Owings Mills, Md., has filed to raise $665,694 through a Series D convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $325,000 from two accredited investors. The software reseller intends to use the proceeds from the offering for working capital. For more information, call Donald Walsh, CEO, at 410-581-8080.

MetriGenix US Inc. of Gaithersburg, Md., raised $500,000 from one accredited investor through a private placement of common stock. The biotech company, which provides microarray analysis systems, intends to use the proceeds from the offering for working capital and other purposes. For more information, call Jeff Courtney, president, at 301-527-2262.

Ephinay Corp. of Charlotte, N.C., raised $14 million from six accredited investors through a Series A and B preferred stock round of financing. The company, which provides financial process outsourcing, intends to use the proceeds from the offering for working capital. For more information, call Michael Gantt, CEO, at 704-369-2580.

Onconova Therapeutics Inc. of Lawrenceville, N.J., raised $1 million from eight accredited investors through a private placement of convertible promissory note. A minimum investment of $10,000 was required on the placement. The company, which is developing cancer treatment drugs, intends to use the proceeds from the offering for working capital. For more information, call Ramesh Kumar, president, at 609-844-7735.

PowerZyme Inc. of Monmouth Junction, N.J., has filed to raise $1 million through a private offering of convertible promissory notes and warrants. At the time of its SEC filing, the company had already raised $500,000 from 18 accredited investors. The company, which is developing fuel cells, intends to use the proceeds from the offering for working capital. For more information, call Donald Scuilli, CEO, at 908-277-4434.

Kanoodle.com Inc. of Amherst, N.Y., raised $14 million from four accredited investors through a Series A convertible redeemable preferred stock round of financing. The Internet search services provider intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Kent Keating, CEO, at 716-691-1758.

mindSHIFT Technologies Inc. of Fairfax, Va., raised $11 million from five accredited investors through a Series BB preferred stock round of financing. The company, which provides office technology support, intends to use the proceeds from the offering for working capital. For more information, call Lawrence Ingeneri, CFO, at 571-432-4058.

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South

EZ-Scrip Inc. of Austin, Texas, has filed to raise $60,000 through a private offering of common stock. At the time of its SEC filing, the company had already raised $10,000 from one accredited investor. The company, which provides supporting services for fund-raising, plans to use the proceeds from the offering for salaries, fees, debt repayment and working capital. For more information, call Kent Pearce, CEO, at 909-910-1299.

Reflect Systems Inc. of Dallas has filed to raise $2.1 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $1.6 million from 22 accredited investors. A minimum investment of $25,000 is required on the placement. The software developer intends to use the proceeds from the offering for working capital. For more information, call Brian Devening, president, at 214-413-3200.

Rejuvenon Corp. of The Woodlands, Texas, has filed to raise $3 million through a private offering of warrant and notes. At the time of its SEC filing, the company had already raised $1.8 million from six accredited investors. The pharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Peter Policastro, CEO, at 832-813-0800.

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Midwest

Auxeris Therapeutics Inc. of St. Louis raised $1.6 million from six accredited investors through a Series A convertible preferred stock round of financing. The pharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Laurent Fischer, CEO, at 314-633-1881.

Novastron Corp. of Montpelier, Idaho, has filed to raise $1.5 million through a private offering of equity. At the time of its SEC filing, the company had already raised $42,000 from four accredited investors. A minimum investment of $5,000 is required on the placement. The company, which is developing environmentally friendly products, intends to use the proceeds from the offering for salaries and fees, purchase, rental or leasing and installation of machinery and equipment, and working capital. For more information, call David Roberts, treasurer, at 208-847-0479.

Axentis Inc. of Warrensville Heights, Ohio, raised $7.5 million from 36 accredited investors through a Series C convertible preferred stock round of financing. The software developer intends to use the proceeds from the offering for working capital. For more information, call Theodore Frank, CEO, at 800-955-2706.

Clarity Technologies Inc. of Troy, Mich., has filed to raise $11 million through a private offering of Series A preferred stock with warrants. At the time of its SEC filing, the company had already raised $9.4 million from 33 accredited investors. Donnelly, Penman, French, Haggarty & Co. of Grosse Pointe, Mich., helps to place an issue for $276,067 in sales commissions. The company ó which is developing voice extraction, noise and echo cancellation software technology ó intends to use the proceeds from the offering for salaries and fees, construction or leasing of plant buildings and facilities, debt repayment, R&D, sales and marketing, and working capital. For more information, call Raymond Gunn, CEO, at 248-822-5122.

TomoTherapy Inc. of Madison, Wis., raised $1.7 million from 20 accredited investors through a private offering of convertible securities. The company, which is developing radiotherapy medical devices for treatment of cancer, intends to use the proceeds from the offering for salaries and fees, debt repayment, working capital, research and development, and other purposes. For more information, call Steve Hathaway, CFO, at 608-824-2800.

Microgistix Inc. of Minneapolis has filed to raise $2.1 million through a private offering of common stock. The minimum investment of $30,000 required on the placement can be waived. The marketing services provider intends to use the proceeds from the offering for working capital. For more information, call Richard Niglio, CEO, at 612-486-1300.

Higher Dimension Medical Inc. of St. Paul, Minn,. has filed to raise $3 million through a private offering of common stock. At the time of its SEC filing, the company had already raised $201,000 from three accredited investors. A minimum investment of $50,000 is required on the placement. The company ó which is developing a series of puncture and cut resistant materials for various applications in the medical, industrial and consumer protective apparel markets ó intends to use the proceeds from the offering for working capital. For more information, call Young-Hwa Kim, CEO, at 651-730-6203.

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West

AppStream Inc. of Palo Alto, Calif., has filed to raise $20 million through a Series C preferred stock round of financing. At the time of its SEC filing, the company had already raised $15.6 million from 12 accredited investors. The computer applications developer intends to use the proceeds from the offering for working capital. For more information, call Uri Raz, CEO, at 650-251-2500.

InterSAN Inc. of Scotts Valley, Calif., raised $3 million from five accredited investors through a Series A-1 preferred stock round of financing. The software developer intends to use the proceeds from the offering for working capital. For more information, call Christina Mercier, president, at 831-430-0692.

Arcturus Bioscience Inc. of Mountain View, Calif., raised $10 million from 26 accredited investors through a Series G preferred stock round of financing. A minimum investment of $28,500 was required on the placement. The developer of systems for microgenomics intends to use the proceeds from the offering for working capital. For more information, call Nancy Westcott, CFO, at 650-962-3020.

Coaxial Networks Inc. of San Jose, Calif., raised $750,000 from three accredited investors through a Series A-1 preferred stock round of financing. The network company intends to use the proceeds from the offering for working capital. For more information, call Vijay Shrivastav, president, at 408-436-8348.

Hammerhead Systems Inc. of Mountain View, Calif., raised $25 million from 10 accredited investors through a Series B preferred stock round of financing. The company, which provides data communications equipment for carriers, intends to use the proceeds from the offering for working capital. For more information, call Robert Keil, executive officer, at 650-210-3300.

Silicon Wave Inc. of San Diego raised $4 million from six accredited investors through a Series E and F preferred stock round of financing. The developer of integrated circuits for wireless and fixed markets intends to use the proceeds from the offering for working capital. For more information, call Francine Good, CFO, at 858-453-9100.

Vontu Inc. of San Francisco raised $10 million from nine accredited investors through a Series B preferred stock round of financing. The software developer plans to use the proceeds from the offering for working capital. For more information, call Joseph Ansanelli, executive officer, at 415-227-8100.

Pointilliste Inc. of Mountain View, Calif., has filed to raise $2 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $526,007 from five accredited investors. The biotechnology company intends to use some proceeds from the offering for working capital. For more information, call Dana Ault-RichÈ, president, at 650-938-1995.

iPolicy Networks Inc. of Fremont, Calif., has filed to raise $28 million through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $26.1 million from 22 accredited investors. The network security company intends to use some proceeds from the offering for working capital. For more information, call Prabhakar Goel, president, at 510-687-3000.

iReady Corp. of Santa Clara, Calif., has filed to raise $5 million through a private offering of convertible subordinated secured promissory notes. At the time of its SEC filing, the company had already raised $3 million from 21 accredited investors. The company, which is developing microprocessor circuitry, intends to use the proceeds from the offering for working capital. For more information, call Steve Bach, CFO, at 408-330-4500.

PDRCo Inc. of Menlo Park, Calif., has filed to raise $300,000 through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $75,000 from three accredited investors. The company is developing personal digital radio. For more information, call Richard Melmon, CFO, at 650-833-5803.

Reactrix Systems Inc. of San Carlos, Calif., has filed to raise $12.9 million through a Series B preferred stock round of financing. At the time of its SEC filing, the company had already raised $12.5 million from 20 accredited investors. The company, which provides visual display technology, intends to use the proceeds from the offering for working capital. For more information, call Michael Ribero, CEO, at 650-232-1500.

Syrrx Inc. of San Diego has filed to raise $33 million through a Series F preferred stock round of financing. . At the time of its SEC filing, the company had already raised $25 million from one accredited investor. The pharmaceutical company intends to use the proceeds from the offering for working capital. For more information, call Jean Lockhart, executive officer, at 858-622-8528.

Cornice Inc. of Longmont, Colo., raised $6 million from eight accredited investors through a private placement of secured convertible promissory notes. The developer of storage element memory products for hand-held mobile devices intends to use the proceeds from the offering for working capital. For more information, call Jeffrey Elberson, CFO, at 303-651-7291.

CreekPath Systems Inc. of Longmont, Colo., raised $16.4 million from 13 accredited investors through a Series C preferred stock round of financing. The company, engaged in the business related to data storage network management, intends to use the proceeds from the offering for working capital. For more information, call David Lacey, CFO, at 303-845-1012.

TechniScan Inc. of Salt Lake City raised $385,496 from one non-accredited investor through a private offering of preferred stock. The medical device company intends to use the proceeds from the offering for salaries, fees and working capital. For more information, call Stephen Johnson, executive officer, at 801-521-0444.

Pi Corp. of Kirkland, Wash., has filed to raise $2.3 million through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $2.2 million from four accredited investors. The software developer intends to use the proceeds from the offering for working capital. For more information, call 425-822-1996.

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