regional_10_13_03

October 14 2003

East

IntelliClaim Inc. of Norwalk, Conn., has filed to raise $4 million through a Series B convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $2 million from four accredited investors. The provider of technology based services for claims payments in the health care industry intends to use some proceeds from the offering for working capital. For more information, call Christine Arnese, vice president, at 203-847-8553.

PHT Corp. of Charlestown, Mass., has filed to raise $6 million through a Series E convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $5 million from 11 accredited investors. The provider of electronic solutions for data collection in medical trials intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Brian Cohen, CFO, at 617-973-1600.

SmartBargains Inc. of Boston raised $5 million from 11 accredited investors through a Series C convertible preferred stock with warrants round of financing. The online retailer of closeout and liquidation merchandise plans to use the proceeds from the offering for working capital. For more information, call Carl Rosendorf, CEO, at 617-695-7300.

NanoOpto Corp. of Somerset, N.J., raised $1.8 million from 15 accredited investors through a Series B preferred stock. The optical components company intends to use the proceeds from the offering for working capital. For more information, call Barry Weinbaum, CEO, at 732-627-0808.

Intelitrac Inc. of Rockville, Md., has filed to raise $3 million through a private offering of units, consisting of common stock and warrants. At the time of its SEC filing, the company had already raised $130,000 from one accredited investor. The IT company intends to use the proceeds from the offering for salaries and fees, purchase, rental or leasing and installation of machinery and equipment, debt repayment and working capital. For more information, call Marc Gunderson, CEO, at 301-279-7500.

Nitronex Corp. of Raleigh, N.C., has filed to raise $11.3 million through a Series C preferred stock round of financing. At the time of its SEC filing, the company had already raised $6 million from 14 accredited investors. A minimum investment of $9,016 is required on the placement. The semiconductor company, which focuses on gallium nitride technology, intends to use the proceeds from the offering for working capital. For more information, call Jack Hillson, CEO, at 919-807-9100.

Ovation Products Corp. of Nashua, N.H., has filed to raise $800,000 through a private offering of convertible notes and preferred stock warrants. At the time of its SEC filing, the company had already raised $250,000 from one accredited investor. The company, engaged in the business related to water distillation equipment, intends to use the proceeds from the offering for working capital. For more information, call William Lockwood, CEO, at 603-891-3224.

Akustica Inc. of Pittsburgh has filed to raise $8 million through a Series A-5 convertible preferred stock round of financing. At the time of its SEC filing, the company had already raised $4.2 million from seven accredited investors. The developer of acoustic microelectromechanical systems plans to use the proceeds for salaries and fees, construction or leasing of facilities, and working capital. For more information, call James Rock, CEO, at 412-390-1730.

INRange Management Systems Inc. of Altoona, Pa., has filed to raise $750,000 through a private offering of preferred stock. At the time of its SEC filing, the company had already raised $237,000 from 10 accredited investors. A minimum investment of $10,000 is required on the placement. The medical equipment and service provider plans to use the proceeds for salaries and fees, purchase, rental or leasing and installation of machinery and equipment, debt repayment and working capital. For more information, call Christopher Bossi, CFO, at 814-940-1872.

South

Aphton Corp. of Miami raised $22.7 million from 28 accredited investors through a private offering of units consisting of shares of common stock and warrants. Harris Nesbitt Gerard Inc. of New York and Enable Capital LLC of San Francisco helped to place the issue for $1.4 million in sales commissions. The biopharmaceutical company intends to use the proceeds from the offering for research and development as well as general corporate purposes. For more information, call Philip Gevas, CEO, at 305-374-7338.

Comerxia Inc. of Hallandale, Fla., has filed to raise $3 million through a Series A convertible preferred stock with warrants round of financing. At the time of its SEC filing, the company had already raised $1.5 million from one accredited investor. The developer of technology related to e-commerce intends to use the proceeds from the offering for working capital. For more information, call Simon Zisman, CEO, at 954-456-7272.

MeshNetworks Inc. of Maitland, Fla., raised $1.4 million from one accredited investor through a private placement of convertible promissory notes. The mobile wireless technology company intends to use the proceeds from the offering for working capital. For more information, call Clifford Chillemi, vice president, at 407-659-5300.

LNNi.com Inc. of Austin, Texas, has filed to raise $242,648 through a Series A preferred stock round of financing. At the time of its SEC filing, the company had already raised $122,108 from four accredited investors. The provider of legislative tracking services via Internet intends to use the proceeds from the offering for salaries, fees, working capital and deferred marketing expenses. For more information, call Betty Otter-Nickerson, CEO, at 512-320-1525.

Revelex Corp. of Boca Raton, Fla., has filed to raise $2 million through a private offering of common stock. At the time of its SEC filing, the company had already raised $550,000 from two accredited investors. The online travel agency intends to use the proceeds from the offering for salaries, fees and working capital. For more information, call David Goodis, CEO, at 561-988-5588.

SkyComm Technologies Corp. of Houston raised $2.5 million from one accredited investor through a private placement of Series A 8% secured convertible debentures. I.E. Butler Securities Inc. of Little Rock, Ark., acted as an agent on the placement. The provider of services related to satellite communications teleport intends to use the proceeds from the offering for construction or leasing of plant buildings and facilities, debt repayment and working capital. For more information, call Thomas Orem, CFO, at 281-272-7500.

Midwest

CompassCare Inc. of Lake Forest, Ill., raised $300,000 from six accredited investors through a private placement of convertible promissory notes and common stock warrants. The software developer intends to use the proceeds from the offering for working capital. For more information, call Stuart Johnstone, CEO, at 312-543-1312.

Nanophase Technologies Corp. of Romeoville, Ill., raised $2 million from one accredited investor through a private placement of common stock with warrants. A minimum investment of $50,000 was required on the placement. The company, which develops and markets nano-crystalline materials, intends to use the proceeds from the offering for working capital. For more information, call Jess Jankowski, acting CFO, at 630-771-6700.

ECNext Inc. of Powell, Ohio, raised $2 million from two accredited investors through a private offering of Series C preferred stock. The e-commerce service provider to the commercial content industry intends to use the proceeds from the offering for working capital. For more information, call Christopher Skudder, president, at 614-932-0956.

Leader Technologies Inc. of Westerville, Ohio, raised $423,000 from 10 accredited investors through a private placement of convertible promissory notes. The Internet infrastructure company intends to use the proceeds from the offering for working capital. For more information, call Michael McKibben, executive officer, at 614-890-1986.

Benequant Inc. of Milwaukee raised $200,000 from two accredited investors through a private placement of common stock with warrants. A minimum investment of $50,000 was required on the placement. The software developer intends to use the proceeds from the offering for working capital. For

West

Aligo Inc. of San Francisco has filed to raise $8 million through a Series C preferred stock round of financing. At the time of its SEC filing, the company had already raised $5 million from three accredited investors. The wireless infrastructure software company plans to use the proceeds from the offering for working capital and general corporate purposes. For more information, call Robert Smith, executive officer, at 415-593-7177.

Arbios Technologies Inc. of Los Angeles has filed to raise $4 million through a private offering of common stock with warrants. At the time of its SEC filing, the company had already raised $2.2 million from 36 accredited investors. A minimum investment of $50,000 is required on the placement. Spencer Edwards Inc. of Greenwood Village, Colo., is acting as an agent on the placement. The company has budgeted a placement fee of up to 10% of the placed issue in addition to 3% in expense allowance. The medical device company plans to use the proceeds from the offering for working capital, pre-clinical studies, clinical research and a cell manufacturing facility. For more information, call Jacek Rozga, president, at 310-423-7702.

Five Prime Therapeutics Inc. of South San Francisco raised $12 million from 16 accredited investors through a Series A preferred stock round of financing. The therapeutics discovery company intends to use the proceeds from the offering for working capital. For more information, call Gail Maderis, CEO, at 650-624-5942.

Grand Central Communications Inc. of San Francisco has filed to raise $20.4 million through a Series C preferred stock round of financing. At the time of its SEC filing, the company had already raised $3.9 million from 25 accredited investors. The Internet based Web services infrastructure company intends to use some proceeds from the offering for working capital. For more information, call Halsey Minor, CEO, at 415-344-3200.

InfoCentricity Inc. of Larkspur, Calif., 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 $625,000 from 15 accredited investors. The software developer intends to use the proceeds from the offering for working capital. For more information, call Christopher Frothinger, president, at 415-925-2400.

Lynx Therapeutics Inc. of Hayward, Calif., raised $3 million from six accredited investors through a private placement of common stock with warrants. Olympus Securities LLC of New York acted as an agent on the placement for $75,000 in sales commissions. The company, which develops technologies related to gene expression patterns and genomic variations, intends to use the proceeds from the offering for working capital. For more information, call Edward Albini, CFO, at 510-670-9300.

Performance Analytics Inc. of Palo Alto, Calif., raised $200,000 from two accredited investors through a Series B preferred stock round of financing. A minimum investment of $50,000 was required on the placement. The software developer intends to use the proceeds from the offering for salaries, fees, product development and working capital. For more information, call John Dennis McGinn, CEO, at 650-996-9551.

InfraredVision Technology Corp. of Buellton, Calif., raised $450,000 from one accredited investor through a private placement of convertible debt. The designer of infrared vision devices intends to use the proceeds from the offering for working capital. For more information, call Shon Paul Gerdan, executive officer, at 805-686-8848.

Peribit Networks Inc. of Santa Clara, Calif., raised $10 million from 20 accredited investors through a private offering of Series D preferred stock. The developer of content delivery tools intends to use the proceeds from the offering for working capital. For more information, call Amit Singh, executive officer, at 408-330-5600.

ReconNex Corp. of Atherton, Calif., raised $5.5 million from 12 accredited investors through a Series A preferred stock round of financing. A minimum investment of $4,000 was required on the placement. The security software developer intends to use the proceeds from the offering for working capital. For more information, call Donald Massaro, president, at 650-326-7354.

Right Hemisphere Inc. of San Ramon, Calif., raised $5.7 million from 14 accredited investors through a Series A preferred stock round. The provider of visual solutions software plans to use the proceeds from the offering for working capital. For more information, call Michael Lynch, CEO, at 925-242-2536.

Triformix Inc. of Santa Rosa, Calif., has filed to raise $5 million through a Series C preferred stock round of financing. At the time of its SEC filing, the company had already raised $2.9 million from three accredited investors. A minimum investment of $5,000 is required on the placement. The company, engaged in the business related to precision molded optics, plans to use the proceeds from the offering for working capital. For more information, call David Whitney, CEO, at 707-545-7645.

Therma-Wave Inc. of Fremont, Calif., raised $12.8 million from 17 accredited investors through a private placement of common stock. A minimum investment of $10,000 was required on the placement. The provider of process control metrology systems for semiconductors intends to use the proceeds from the offering for working capital. For more information, call Boris Lipkin, CEO, at 510-668-2200.

Visus Technology Inc. of Menlo Park, Calif., raised $1.5 million from one accredited investor through a Series A preferred stock round of financing. The software developer intends to use the proceeds from the offering for working capital. For more information, call Robert Hull, executive officer, at 650-218-0907.

TrenStar Inc. of Englewood, Colo., raised $29.3 million from six accredited investors through a Series B preferred stock round of financing. The provider of outsourced services in logistics, asset and supply chain management intends to use the proceeds from the offering for debt repayment and working capital. For more information, call Gregory Cronin, executive officer, at 303-721-8000.

Unicru Inc. of Beaverton, Ore., raised $2 million from nine accredited investors through a private placement of common stock. The developer of hiring management systems for hourly work forces intends to use the proceeds from the offering for working capital. For more information, call Christopher Marsh, CEO, at 503-596-3100.

Straitshot Communications Inc. of Kirkland, Wash., has filed to raise $4 million through a private offering of preferred stock. At the time of its SEC filing, the company had already raised $25,000 from one accredited investor. A minimum investment of $25,000 is required on the placement. Brookstreet Securities Corp. of Irvine, Calif., acted as an agent on the placement for $520,000 in sales commissions. The technology company intends to use the proceeds from the offering for working capital, network capital expenditures, note payment and other purposes. For more information, call Scott Painter, CEO, at 425-822-7140.

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