M E M O R A N D U M
 
To:
AJW Partners, LLC
AJW Master Fund, Ltd.
New Millennium Capital Partners II, LLC
 
From:
 
Innofone.com, Inc.
 
Date:
 
September 21, 2007
 
Re:
 
Disbursement of Funds

In connection with the funding of an aggregate of $200,000 pursuant to that
certain Securities Purchase Agreement dated as of September 21, 2007 (the
“Agreement”), you are hereby directed to disburse such funds as follows:
 
1.  $        to Innofone.com, Inc. in accordance with the wire transfer
instructions attached as Schedule A hereto;
 
2.  $        to The National Investment Resources, LLC in accordance with the
wire transfer instructions attached as Schedule B hereto;
 
3.  $           to Ballard Spahr Andrews & Ingersoll, LLP in accordance with the
wire transfer instructions attached as Schedule C hereto.
 
4.  $        to AJW Partners, LLC in accordance with the wire instructions
attached hereto as Schedule D;
 
5.  $           to New Millennium Capital Partners II, LLC in accordance with
the wire instructions attached hereto as Schedule E; 
 
6.  $           to AJW Offshore, Ltd. in accordance with the wire instructions
attached hereto as Schedule F; 
 
7.  $           to AJW Qualified Partners, LLC in accordance with the wire
instructions attached hereto as Schedule G; and
 
8.  $        to be held in escrow for the payment of key man life insurance
premiums.
 
 
 

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Upon receipt of such funds, we will release from escrow the Notes and the
Warrants (each as defined in the Agreement).
 
Innofone.com, Inc.
   
Alex Lightman
Chief Executive Officer

 
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Schedule A
 
Company:      

Account Name:    

Account Number:     

Bank:      

ABA:     
    

Branch Address:     

Bank Contact:  
 
 
3

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Schedule B
 
Bank:
North Fork Bank
   
Branch Address:
60 Cuttermill Road, Great Neck, NY 11021
Branch #62
   
Telephone No.:
516-773-1880
   
Fax No.:
516-773-1888
   
Account Name:
National Investment Resources, LLC
   
Account No.:
6224023322
   
ABA No.:
021407912
   
Officer:
Mr. Steven Tuchler

 
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Schedule C
 
Bank:
PNC Bank, Philadelphia
   
Account Name:
Ballard Spahr Andrews & Ingersoll, LLP
   
Account No.:
85-5744-7842
   
ABA No.:
031 0000 53

 
 
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Schedule D

Bank:
North Fork Bank
   
Branch Address:
60 Cuttermill Road
Great Neck, NY 11021
   
Telephone No.:
516-773-1880
   
Fax No.:
516-773-1888
   
Account Name:
AJW Partners, LLC
   
Account Number:
6224023355
   
Swift:
0214-0791-2
   
Officer:
Mr. Steven Tuchler, Branch Manager

 
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Schedule E

Bank:
North Fork Bank
   
Branch:
60 Cuttermill Road
 
Great Neck, NY 11021
 
Branch #62
   
Telephone No.:
516-773-1880
   
Fax No.:
516-773-1888
   
Account Name:
New Millennium Capital Partners, LLC
   
Account No.:
6224023389
   
ABA No.:
021407912
   
Officer:
Mr. Steven Tuchler

 
 
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Schedule F
 
Bank:
North Fork Bank
   
Branch Address:
60 Cuttermill Road
 
Great Neck, NY 11021
   
Telephone No.:
516-773-1880
   
Fax No.:
516-773-1888
   
Account Name:
AJW New Millennium Offshore, Ltd.
   
Account Number:
6224023413
   
Swift:
0214-0791-2
   
Officer:
Mr. Steven Tuchler, Branch Manager

 
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Schedule G

BANK:
North Fork Bank
   
Branch Address:
60 Cuttermill Road, Great Neck, NY 11021
   
Telephone No.
516-773-1880
   
Fax No.
516-773-1888
   
Account Name:
AJW Qualified Partners, LLC
   
Account Number:
6224022415
   
Swift:
0214-0791-2
   
Officer:
Mr. Steven Tuchler, Branch Manager

 
 
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