<PAGE>
                                                                  EXHIBIT 10.50


                     JOHN DEERE MASTER LEASE AGREEMENT

<TABLE>
<S>                                                  <C>
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LESSEE'S NAME (Last Name First)                      LEASE NUMBER
& MAILING ADDRESS (Including Zip Code
                                                         030-0052202-000
     I-PAC MANUFACTURING INC.                        ---------------------------------------------------
     1958 KELLOGG AVE.                               LESSEE'S SOC. SEC. NO. (First Signer) 
     CARLSBAD, CA 92008                              OR TAX IDENTIFICATION NO. IF CORPORATION 
                                                         330415028
--------------------------------------------------------------------------------------------------------
LESSEE'S NAME (Last First Name)                      COUNTY LOCATION
& MAILING ADDRESS (Including Zip Code)
                                                         SAN DIEGO
     PHOTOMATRIX, INC.                               ---------------------------------------------------
     1958 KELLOGG AVE.                               LESSOR'S NAME & ADDRESS (Including Zip Code)
     CARLSBAD, CA 92008                     
                                                         DEERE CREDIT, INC.
                                                         1415 28th STREET -- P.O. BOX 65090
                                                         WEST DES MOINES, IA 50265-0090
--------------------------------------------------------------------------------------------------------
</TABLE>


1.   TERM-LEASE PAYMENTS
     Lessor leases to Lessee, and Lessee leases from Lessor, the equipment 
     described in one of more Schedules, attached to and incorporated into 
     this Lease, executed by Lessor and Lessee from time to time, for the 
     period specified in each such Schedule (the "Lease'). (The term 
     "Equipment" as used herein shall refer collectively to the equipment 
     described in all Schedules.) A Schedule may provide for one or more 
     Renewal Terms in addition to the initial Lease Term. If Renewal Terms 
     are provided for, the Schedule will automatically renew for the Renewal 
     Term(s) unless Lessee gives Lessor written notice of its intent not to 
     renew at least 60 days prior to the end of the appropriate term. If 
     Lessor receives such notice, the Schedule shall be terminated on the 
     date the present term expires.

     Lessee agrees to pay Lessor Lease Payments in accordance with the 
     payment schedules shown on the various Schedules. If Renewal Terms are 
     provided for, the Schedules will also provide for Lease Payments during 
     the Renewal Terms. Any Lease Payment not made when due shall bear 
     interest from its due date until paid at the highest rate permitted by 
     law. Any Lease Payment received from Lessee may be applied, at 
     Lessor's choice, to what Lessee owes under this Lease or under any other 
     lease agreement between Lessee and Lessor, in spite of any instructions 
     from Lessee.

2.   OPTION TO PURCHASE
     Provided Lessee is not in default under any provision of this Lease 
     Agreement or any Schedule, at the expiration of the Lease Term or any 
     Renewal Term (if applicable), Lessee shall have the option to purchase 
     any particular piece of Equipment for the Option Purchase Price set 
     forth on the applicable Schedule or, if no Option Purchase Price is so 
     set forth, for its fair market value at the time the option is 
     exercised. If Lessee fails to exercise the option to purchase on or 
     before expiration of the Lease, the Option Purchase Price shall be 
     revoked. Fair market value will be determined by Lessor with reference 
     to recent sales of used Equipment of similar type and condition.

     Lessee must notify Lessor in writing not less than 60 days prior to the 
     end of the Lease Term or Renewal Term (if applicable) that Lessee intends 
     to exercise this Option to Purchase. Lessor will send to Lessee 
     applicable sale documents to be executed in consummation of sale. Any 
     applicable sales tax shall be added to the Option Purchase Price in 
     accordance with the laws of the state of Lessee's business operation.

3.   ASSIGNMENT
     LESSEE SHALL NOT, WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR, (A) 
     ASSIGN, TRANSFER OR PLEDGE THIS LEASE, THE EQUIPMENT OR ANY PART 
     THEREOF, OR ANY INTEREST THEREIN, OR (B) PERMIT THE EQUIPMENT OR ANY 
     PART THEREOF TO BE USED BY ANYONE OTHER THAN LESSEE OR LESSEE'S 
     EMPLOYEES. Any assignment without such consent shall be void. Lessee's 
     obligation to pay rent under this Lease shall not, as to any assignee of 
     Lessor, be subject to any diminution arising out of any breach of any 
     obligation of Lessor hereunder or other liability of Lessor to Lessee.

4.   RETURN OF EQUIPMENT
     With respect to each piece of Equipment, upon early termination of this 
     Lease or if the above option to purchase is not exercised, at the 
     expiration of the term of this Lessee, Lessee shall return the 
     Equipment, at Lessee's expense, to Lessor at a place designated by 
     Lessor no more than 50 miles from the place of delivery shown on the 
     applicable Schedule. The Equipment, when returned, shall be in as good
     condition as it is when delivered to Lessee, reasonable wear thereof 
     excepted. Reasonable wear of tires and undercarriage, as applicable, 
     shall be interpreted as 50% remaining, useful life upon return of 
     Equipment.

     Upon termination of this Lease, if any option to purchase is not 
     exercised and Lessee fails to return the Equipment as described above, 
     Lessee shall be obligated to make monthly payments to Lessor which shall 
     be equal to the greatest payment amount provided for in the terminated 
     Schedule. This obligation shall continue until Lessor regains possession 
     of the Equipment.

5.   EARLY TERMINATION
     Provided Lessee is not in default under any provision of this Lease, 
     Lessee may request that this Lease be terminated prior to the expiration of
     the term of this Lease with respect to the Equipment or any item 
     thereof. If such request is made Lessor and Lessee will use reasonable 
     efforts to arrange for a sale to a third party. This Lease shall be 
     continued until such a sale is consummated (or until the term of this 
     Lease expires, whichever is earlier) and Lessee shall continue to make 
     Lease Payments. Lessee shall return the Equipment to Lessor as provided 
     in Section 4 and pay to Lessor the excess, if any, of the Termination 
     Value on the date of sale over the net sale price (after deducting all 
     costs and expenses incurred by Lessor in connection with the sale) 
     received or to be received by Lessor.

6.   DEFAULT
     Lessee shall be in default under this Lease if any of the following 
     events occur:

     6.1   Lessee fails to make any Lease Payment or pay other sums due 
           hereunder within ten (10) days after the same shall become due.

     6.2   Lessee fails to maintain any insurance required hereunder in 
           effect or fails to comply with the requirements of any such 
           insurance.

     6.3   Lessee, without Lessor's prior written consent, attempts to assign 
           this Lease or voluntarily or involuntarily removes the Equipment 
           from the United States, or sells, transfers, encumbers, parts with 
           possession of or sublets any item of Equipment.

     6.4   Lessee shall commit an act of bankruptcy or become insolvent or 
           bankrupt, shall make an assignment for the benefit of creditors, 
           shall cease doing business as a going concern, if bankruptcy, 
           reorganization or insolvency proceedings are instituted by or 
           against Lessee, or if Lessee shall suffer an adverse material 
           change in its financial condition which causes Lessor to deem 
           itself or any of the Equipment to be insecure.

     6.5   Lessee fails to perform or observe any other covenant or condition 
           herein and such failure continues for a period of ten (10) days 
           after written notice thereof is sent to Lessee by Lessor.

7.   REMEDIES OF LESSOR
     Upon default of Lessee, under this Lease or under any other lease agreement
     between Lessee and Lessor, Lessor may, without notice to or demand upon 
     Lessee, exercise any one or more of the following remedies:

     7.1   Declare all unpaid rent for the full term of this Lease immediately 
           due and payable, together with all expenses of collection by suit 
           or otherwise, including reasonable attorney's fees.

     7.2   Terminate this Lease immediately with respect to the Equipment or 
           any portion thereof and/or terminate any other lease agreement 
           between Lessee and Lessor.

     7.3   Take possession of the Equipment (which Lessee shall surrender on 
           demand).

     7.4   Sell the Equipment or any portion thereof at public or private sale 
           and without demand on Lessee for payment or notice of intention 
           to sell, retain the proceeds of any such sale, and, unless 
           previously terminated under Section 7.2, terminate this Lease as 
           of the date of such sale. If the proceeds, after deducting all 
           costs and expenses incurred in connection with the recovery, 
           repair, storage and sale of the Equipment and after deducting any 
           Lease Payments and other obligations of Lessee due and unpaid 
           thereunder on the date of the sale, including interest on past due 
           Lease Payments, are less than the Termination Value on the date of 
           termination, Lessee shall immediately pay Lessor the difference.

     7.5   Exercise any other remedy provided by law, including the recovery 
           of damages caused by Lessee's failure to perform or observe any 
           covenant or condition of this Lease.

                                                  (CONTINUED ON REVERSE SIDE)


ADDITIONAL PROVISIONS CONCERNING RIGHTS OF THE PARTIES ON REVERSE SIDE ARE A 
                             PART OF THIS AGREEMENT

NOTICE: THE DEALER HAS NO AUTHORITY TO MAKE ANY REPRESENTATION OR PROMISE ON 
BEHALF OF LESSOR OR TO MODIFY THE TERMS OF THIS LEASE IN ANY WAY.

LESSEE'S                                  LESSOR'S
NAME        I-PAC MANUFACTURING INC.      NAME          DEERE CREDIT, INC.
       -------------------------------             ---------------------------

/s/    PAT W. MOORE CEO     1-12-99
-----------------------  -------------
(Lessee's Signature)     (Date Signed)

     PHOTOMATRIX, INC.
/s/  PAT W. MOORE  CEO     1-12-99                 /s/  JULIA STEINHARTE
-----------------------  -------------             ----------------------------
(Lessee's Signature)     (Date Signed)             (Authorized Signature)

                                                    DATE ACCEPTED:  1-25-99
-----------------------  -------------
(Lessee's Signature)     (Date Signed)


-----------------------  -------------
(Lessee's Signature)     (Date Signed)




<PAGE>

8.   NEW EQUIPMENT WARRANTY
     Lessee acknowledges and agrees (a) that the Equipment was selected by 
     Lessee; (b) that Lessee is satisfied that the same is suitable for its 
     purpose; (c) that Lessor is not a manufacturer thereof nor a dealer in 
     property of such kind; and (d) THAT LESSOR HAS NOT MADE, AND DOES NOT 
     HEREBY MAKE ANY REPRESENTATION OR WARRANTY OR COVENANT WITH RESPECT TO 
     THE MERCHANTABILITY, AND CONDITION, QUALITY, DESCRIPTION, DURABILITY, OR 
     SUITABILITY OF ANY SUCH UNIT IN ANY RESPECT OR IN CONNECTION WITH OR FOR 
     THE PURPOSES AND USES OF LESSEE. Lessor hereby assigns to Lessee, to the 
     extent assignable, any warranties, covenants, and representations of the 
     vendor with respect to the Equipment, provided that any action taken by 
     Lessee by reason thereof shall be at the sole expense of the Lessee and 
     shall be consistent with Lessee's obligations pursuant to the terms of 
     this agreement.

9.   INSURANCE
     9.1   Lessee, at its own expense, will carry public liability insurance 
           having an endorsement for contractual liability on the Equipment 
           with minimum liability limits in the amounts of $1,000,000 per 
           occurrence for bodily injury, including death, and in the minimum 
           amount of $250,000 per occurrence for property damage.

     9.2   Lessee, at its own expense, shall keep the Equipment insured 
           against all risk of physical damage for no less than its actual 
           cash value. Such insurance shall include a loss payable clause 
           made out in favor of Lessor.

     9.3   Lessee shall deliver to Lessor Certificates or other evidence 
           satisfactory to Lessor that insurance is maintained as required 
           under Sections 9.1 and 9.2. If Lessee fails to deliver such 
           Certificates or other evidence of insurance to Lessor upon 
           request. Lessor shall have the right, but shall not be obligated, to
           purchase such insurance and Lessee will reimburse Lessor for the 
           cost thereof upon demand.

10.  LOSS OR DAMAGE TO EQUIPMENT
     All risk of loss or damage to the Equipment is assumed by Lessee until 
     it is returned to Lessor at the expiration of the term of this Lease or 
     such earlier termination as may occur under the provisions of Sections 5 
     and 7 of this Lease. If a damaged item is capable of being repaired for 
     a cost less than its actual cash value, Lessee shall repair it at his 
     own cost. The proceeds of any insurance which may become available as a 
     result of damage to the Equipment may be applied to the repair of the 
     Equipment or to payment of any obligation of Lessee hereunder, at the 
     sole discretion of Lessor. Inadequacy of such insurance proceeds to 
     cover the cost of repairs does not excuse or diminish Lessee's 
     obligation to repair. If an item is lost, stolen, destroyed or damaged 
     beyond repair, insurance proceeds shall be paid over to Lessor. Any 
     salvage shall be disposed of as the Insurance Company and/or Lessor may 
     elect. If the sum of the insurance proceeds and the salvage proceeds, if
     any, is less than the Termination Value of the affected Equipment on the 
     date of loss, Lessee shall promptly pay the difference to Lessor.

11.  LIABILITY
     Lessee assumes all risk and liability for and shall hold Lessor and its 
     assigns harmless from all claims, liabilities or expenses for injuries 
     or death to persons or loss or damage to property allegedly caused by 
     the Equipment or arising out of the use, possession or transportation 
     thereof. Lessee's liability hereunder shall not be limited to the 
     amounts of insurance required under Section 9.

12.  FEES AND PROPERTY TAXES
     12.1  For the equipment, Lessor will file the requisite periodic reports 
           or returns with the appropriate taxing jurisdiction(s), UNLESS 
           OTHERWISE REQUIRED BY LAW. Lessor shall bill Lessee and Lessee 
           agrees to pay to Lessor, all taxes, fees and assessments, 
           including penalties, interest or fines assessed or levied by any 
           taxing authority during the Lease Term, excluding taxes assessed 
           on Lessor's income. If any applicable taxes, fees or assessments 
           during the Lease Term are unknown or uncertain, Lessor will 
           reasonably estimate such taxes and will bill Lessee therefor, and 
           Lessee agrees to pay to Lessor such estimates.

     12.2  If the location of the Equipment has been changed to another 
           taxing jurisdiction or the exempt status of the Equipment has been 
           changed, Lessee shall, in time for Lessor to file such a return or 
           report, notify Lessor in writing regarding such changes at the 
           following address:
                 DEERE CREDIT, INC.
                 TAX DEPARTMENT
                 JOHN DEERE ROAD
                 MOLINE,IL 61265

     12.3  If Lessor is required to file any returns or reports or pay any 
           fees or taxes for which Lessee is obligated hereunder, Lessee 
           shall promptly reimburse Lessor for its payment of said fees and 
           taxes and shall pay any additional sales, rental or use tax 
           imposed on such reimbursements. If Lessee fails to pay any fees or 
           taxes it is required to pay. Lessor shall have the right, but not 
           the obligation, to pay such fees or taxes together with penalties 
           or fines and Lessee will promptly reimburse Lessor for any amounts 
           paid by Lessor.

     12.4  If any amounts which Lessee is required to reimburse Lessor are 
           not reimbursed within 30 days of demand by Lessor, then such 
           amounts shall bear interest at the highest contract rate permitted 
           by law, from the time of payment by Lessor until paid by Lessee.

     12.5  In addition, the amount of any tax, fee, penalty or fine which is 
           Lessee's responsibility but which Lessor pays, if not reimbursed 
           to Lessor by Lessee within 30 days of demand by Lessor, shall bear 
           interest at the highest contract rate permitted by law, from the 
           time of payment by Lessor until paid by Lessee.

13.  INTENDED USE OF EQUIPMENT
     Lessee agrees that the Equipment will not be used for personal, family 
     or household use.

14.  SERVICE AND USE
     Lessee agrees to care for the Equipment in a careful and prudent manner, 
     to cause the Equipment to be operated and maintained in accordance with 
     the manufacturer's operator's manuals, maintenance manuals, technical 
     manuals, and other instructions concerning operation and maintenance, 
     and to perform all maintenance and make any and all repairs which may be 
     necessary to keep the Equipment in as good condition as it is when 
     delivered to Lessee, reasonable wear thereof excepted. All maintenance 
     and repairs shall be made at Lessee's expense unless covered by warranty 
     or by insurance as provided in Section 9. Lessee shall comply with and 
     conform to all laws and regulations relating to ownership, possession, 
     use and maintenance of the Equipment and with all conditions of policies 
     of insurance on the Equipment. Lessee will not install any accessory or 
     device on the Equipment (except such as may be removed without in any 
     way affecting the originally intended function or use of the Equipment). 
     Lessor shall be entitled to inspect the Equipment at the location of 
     Lessee during reasonable business hours. It is contemplated that the 
     Equipment will not be operated for more than the maximum number of 
     hours shown on the applicable Schedule, and Lessee agrees to pay the 
     excess use charge shown on such Schedule for each hour the Equipment is 
     used in excess of such time. If there is an hour meter furnished. Lessee 
     agrees to keep it connected to the Equipment and in good working 
     condition at all times and that it is to be used as the conclusive basis 
     of the number of hours of operation.

15.  CONSTRUCTION
     This Lease shall not be construed as conveying to Lessee any right, 
     title, or interest in or to the Equipment or its proceeds except as 
     Lessee. Except as provided in Section 2, all right, title and interest 
     in and to the Equipment shall at all times remain in Lessor.

16.  DESIGNATION OF OWNERSHIP
     If at any time during the term hereof, Lessor supplies Lessee with 
     labels, plates or other markings stating that the Equipment is owned by 
     Lessor, Lessee shall affix and keep the same upon a prominent place on
     the Equipment. Lessor may request and Lessee agrees to execute Uniform 
     Commercial Code Financing Statements, and such statements or their 
     filing shall not be deemed to negate the construction of this Lease as a 
     lease. Lessee agrees to execute any and all additional instruments 
     necessary to perfect Lessor's interest in this Lease, the payments due 
     hereunder and the Equipment.

17.  SECURITY DEPOSIT
     If an amount is shown as a "Security Deposit" on any Schedule, Lessor 
     may, but shall not be obligated to, apply the Security Deposit, or any
     portion thereof, to cure any default by Lessee, in which event Lessee 
     shall promptly restore the Security Deposit to the full amount 
     specified. Upon fulfillment by Lessee of all of the covenants and 
     conditions of this lease, including the obligation to reimburse Lessor 
     for any amounts as set forth in Section 12, Lessor shall return to 
     Lessee the amount of the Security Deposit, without interest.

18.  TERMINATION VALUE
     With respect to each piece of Equipment, "Termination Value", as used in 
     this Leased, shall be a sum equal to: (a) the total of all Lease 
     Payments for the present term (excluding any sales tax included in such 
     Leased Payments) which are not yet due on the date of the loss under 
     Section 10 or the date of sale under Sections 5 and 7; (b) plus the 
     Residual Value which was used in calculating payments due under the 
     present term; (c) minus the unearned finance income component included 
     in the Lease Payments for the present item not yet due on such date, 
     calculated using the "Actuarial" method and treating any federal income 
     tax credit retained by Lessor as a payment. Upon request, Lessor will 
     advise Lessee of the amount of the Termination Value to be used in 
     computing Lessee's obligations under Sections 5, 7 or 10.

19.  CONTROLLING LAW
     EXCEPT AS PROHIBITED BY THE LAW OF THE STATE OF LESSEE'S RESIDENCE, THE 
     CONSTRUCTION AND VALIDITY OF THIS LEASE SHALL BE CONTROLLED BY THE LAW 
     OF THE STATE OF IOWA, WHERE THIS LEASE IS ACCEPTED AND ENTERED INTO.




<PAGE>

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                                                          GENERAL INFORMATION
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<S>                                                                    <C>                        <C>
LESSEE NAME AND ADDRESS                                                LEASE NUMBER               ACCOUNT #, SS# OR TAX ID #
I-PAC MANUFACTURING INC., 1958 KELLOGG AVE., CARLSBAD, CA 92008             030-                         330415028
                                                                        0052202-000
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CO-LESSEE NAME AND ADDRESS                                                                       ACCOUNT #, SS# OR TAX ID #
PHOTOMATRIX, INC.: 1958 KELLOGG AVE. CARLSBAD, CA 92008                                                  953267788
-------------------------------------------------------------------------------------------------------------------------------
SUPPLIER'S (DEALER'S) NAME AND ADDRESS (Place of Delivery)                                            DEALER ACCOUNT NO.
DEERE CREDIT, INC.: 1415 28TH STREET, W DES MOINES, IA 50265                                                 79-0000
-------------------------------------------------------------------------------------------------------------------------------
LESSOR
DEERE CREDIT, INC., 1411 28TH ST., WEST DES MOINES, IA 50265

</TABLE>
<TABLE>
<CAPTION>
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                                                         EQUIPMENT DESCRIPTION
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<S>    <C>            <C>            <C>                         <C>                <C>                   <C>
QTY.   MANUFACTURING  MODEL           EQUIPMENT DESCRIPTION       SERIAL NUMBER      MAX HRS. EXCESS       CHRG HR. METER
001        SEE          1               SEE ATTACHED              SEE EXHIBIT A           /YR                   $0.00




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<CAPTION>
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<S>                            <C>           <C>         <C>                 <C>             
EQUIPMENT LOCATION             CITY          STATE       EQUIPMENT USAGE     PHYSICAL DAMAGE INSURANCE
Check here if OUTSIDE          CARLSBAD       CA         / / AGRICULTURAL     / / JOIN DEERE INSURANCE PURCHASED
city limits: / /               --------------------
                               COUNTY        ZIP CODE    /X/ COMMERCIAL       / / PROOF OF INSURANCE ATTACHED
                               SAN DIEGO      92008      / / INDUSTRIAL       
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</TABLE>
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<CAPTION>
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                                                      PAYMENT INFORMATION
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<S>                 <C>                <C>                    <C>              <C>             <C>         <C>
COMMENCEMENT DATE   TERMINATION DATE   PURCHASE OPTION PRICE  NO OF PAYMENTS   LEASE PAYMENT   USE TAX     TOTAL LEASE PAYMENT
      1/20/99           12/20/00            $55,000.00               1          $16,000.00     $1,240.00        $17,240.00
-------------------------------------------------------------------------------------------------------------------------------
                                                                     1          $ 8,000.00     $  620.00        $ 8,620.00
-------------------------------------------------------------------------------------------------------------------------------
                                                                    21          $10,875.00     $  842.82        $11,717.82
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/X/ MONTHLY PAYMENTS                    DATE MONTHLY PMTS BEGIN                 Payments are due on day: 20
                                                1/20/99
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/ / PAYMENTS OTHER THAN               -----------------------------------------------------------------------------------------
    MONTHLY                           -----------------------------------------------------------------------------------------
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/ / PAYMENT SCHEDULE ATTACHED (Optional)
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ADVANCE LEASE PAYMENT               $17,240.00               Advance Includes the first 1 Payment(s) and Last 0 Payment(s).
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SECURITY DEPOSIT                              $0.00    LESSEE HEREBY DEPOSITS WITH LESSOR THE SUM SHOWN AT THE LEFT AS A SECURITY 
                                                       DEPOSIT FOR THE FAITHFUL PERFORMANCE BY LESSEE OF THE COVENANTS AND 
                                                       CONDITIONS OF THE LEASE.
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</TABLE>

<TABLE>
<CAPTION>
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                                                      SIGNATURES
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<S>                                    <C>                               <C>

By  /s/  PAT W. MOORE                   Date    1/12/99                  By  /s/ PAT W. MOORE     DATE   1/12/99
   -------------------------                 --------------                 --------------------       -------------
   PAT W. MOORE      CEO                                                    PHOTOMATRIX, INC.
                                                                             PAT W. MOORE    CEO

By                                      Date                             By                      Date
  ----------------------------                ---------------               ------------------         -------------


By                                      Date                     
  ----------------------------                ---------------     


By                                      Date                     
  ----------------------------                ---------------     


-------------------------------------------------------------------------------------------------------------------------------
 LESSOR: DEERE CREDIT, INC.                  By:   Julia Steinharte          Title: Auditor                Date:  1-25-99
-------------------------------------------------------------------------------------------------------------------------------
                                                            DELIVERY ACKNOWLEDGMENTS
-------------------------------------------------------------------------------------------------------------------------------

The equipment listed above and Operator's Manuals were received on this date, and the safe operation and proper servicing of the
Equipment were explained to me. I have also received the written warranty applicable to the Equipment and understand that my 
rights are limited as set forth therein.

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OPERATOR'S MANUAL ISSUE #                     LESSEE'S SIGNATURE                                       DATE
                                                 Pat W. Moore                                               1/12/99
-------------------------------------------------------------------------------------------------------------------------------
The Equipment listed above was carefully prepared for delivery, inspected and adjusted according to factory recommendations 
before delivery to lessee. Operation and service of the Equipment and the importance of following the instructions in the 
Operator's Manual were explained to lessee.
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DEALER SIGNATURE                                                                                      DATE

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