PROMISSORY NOTE
 
Principal Amount:  $600,000

FOR VALUE RECEIVED, the undersigned on behalf of Oblio Telecom, Inc. is hereby
authorized to pay to the order of AT&T Corp. (“AT&T”) the principal amount of
Six Hundred Thousand Dollars ($600,000.00), in accordance with the following
terms and conditions:
 
1. This Note shall be payable with one initial payment of $100,000 payable on
October 15, 2007 and five (5) monthly installment payments due on the 1st of
each month from November 1, 2007 through March 1, 2008. Each installment shall
be in the amount of $100,000.00.
 
2. All payments shall be made payable to AT&T Corp. and shall be sent to:
 
Bank:
Bank of America
ABA:
111000012
Account:
AT&T CORP. CMD PREPAID CARD
Acct #:
3751257662
Ref:
Oblio Telecom

 
or to such other address as AT&T may give notice of to Oblio.
 
3. This Note may be prepaid at any time without penalty.
 
4. The following shall constitute an “Event of Default”:
 
(a) the failure of Oblio to pay any installment when due, which failure
continues for ten (10) days following written notice or e-mail notice by AT&T,
and
 
(b) the filing of a petition under the United States Bankruptcy Code by or
against Oblio.
 
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5. In the event of an Event of Default, the remaining balance due under this
Note shall be accelerated and the balance of the Note shall be payable
immediately and AT&T shall be entitled to recover accrued interest at the rate
of eleven percent (11%) per annum on the unpaid balance together with reasonable
attorneys’ fees incurred in enforcing the Note. 
 
6. Any notices made by AT&T shall be by U.S. mail, postage prepaid or
alternatively by electronic mail as follows:
 
To Oblio:
 
Oblio Telecom, Inc.
Attn: Bryan M. Chance
1700 Jay Ell Drive, Suite 200Richardson, Texas  75081
(972) 767-3117 (Fax)
bchance@obliotel.com 

With a copy to:
 
C. John Scheef III
Scheef & Stone, LLP
2601 Network Blvd., Suite 102
Frisco, Texas  75034
(214) 472-2150 (Fax)
john.scheef@solidcounsel.com 

8. This Note is made pursuant to the terms of a Settlement Agreement entered
into by AT&T and Oblio simultaneously herewith.

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IN WITNESS WHEREOF, Oblio Telecom, Inc. has executed this Promissory Note under
seal this    12th    day of October, 2007.
 

        OBLIO TELECOM, INC.  
   
   
    By:     /s/ Kurt Jensen  

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Kurt Jensen, President     

 

WITNESS:                  /s/ Frank P. Crivello      

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Frank P. Crivello     

 
 
GUARANTEE

FOR VALUE RECEIVED,  the undersigned Bryan Chance, as President and Chief
Executive Officer of Titan Global Holdings, Inc. (“Titan”), represents that he
is duly authorized to commit and bind Titan to irrevocably guarantee the full
and faithful performance of Oblio Telecom, Inc. under the terms of the foregoing
Promissory Note, and further agrees that AT&T may hold Titan responsible for its
reasonable attorneys’ fees in pursuing against it enforcement of Titan’s
obligations under this Guarantee.
 

        TITAN GLOBAL HOLDINGS, INC  
   
   
  Date: October 12, 2007 By:     /s/ David M. Marks  

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David M. Marks, Chairman     

 

WITNESS:                 /s/ Frank P. Crivello      

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Frank P. Crivello     

 
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