EXHIBIT 21.1


                         SUBSIDIARIES OF THE REGISTRANT


         1.       Liberty Acquisition Corporation, a Tennessee corporation and
                  wholly owned subsidiary of iLinc Communications, Inc.

         2.       Special Omega Acquisition Corporation, a Delaware corporation
                  and wholly owned subsidiary of iLinc Communications, Inc.

         3.       Pentegra Investments, Inc., a Delaware corporation and wholly
                  owned subsidiary of iLinc Communications, Inc.

         4.       Edge Acquisition Subsidiary, Inc., a Delaware Corporation and
                  wholly owned subsidiary of iLinc Communications, Inc.

         5.       TW Acquisition Subsidiary, Inc., a Delaware Corporation and
                  wholly owned subsidiary of iLinc Communications, Inc.