CHICAGO -- Talk about making good use of your spare time.


After learning that a pre-calculus class he planned to take was canceled, 15-year-old Rishi Bhat spent the summer creating a program that allows users to surf the Internet anonymously. A classmate designed the graphics, and SiegeSoft was born.


Now, the high-school sophomore is $1.6 million richer.


Bhat's program also caught the eye of Canada-based investor David Hodge. After months of negotiations, Bhat sold his program for $40,000 in cash, 1.5 million shares of Rocca stock and a share of the first two years' profits in exchange for his continued work on the web service.