<PAGE>
EXHIBIT 4.1


iLive, Inc.
Convertible Note

$1,500,000                                                         Irvine, Ca.
                                                                   March 6, 2002

                         EXTENSION OF THE MATURITY DATE

Street Capital Inc. hereby grants iLive a thirty (30) day extension on the
$1,500,000 convertible note issued October 1, 2000. The original note was due on
or before 5:00 PM, Pacific Standard Time, on March 7, 2002. The extension will
extend the payment or conversion rights to April 7, 2002.

This extension is executed by Street Capital Inc. in accordance with the terms
and conditions set forth in the original note.

IN WITNESS WHEREOF, the Company has signed and sealed this Notes and delivered
it in Irvine, California as of March 6, 2002.


iLive, Inc.



By: /s/ Albert Aimers, CEO
   ---------------------------
Albert Aimers, CEO




Street Capital



By: /s/ Scott Henricks, President
   ------------------------------
Scott Henricks, President



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THIS NOTE AND THE SHARES OF COMMON STOCK ISSUABLE UPON THE CONVERSION HEREOF
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT") OR ANY APPLICABLE STATE SECURITIES LAW AND MAY NOT BE
TREANSFERRED INLESS (I) THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR SHC APPLICABLE SECURITIES LAWS OR (II) IN THE OPINION OF
COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY REGISTRATION UNDER THE SECURITIES
ACT OR SUCH APPLICABLE STATE SECURITIES LAWS IS NOT REQURED IN CONNECTION WITH
SUCH TRANSFER.

iLive, Inc.
Convertible Note/Line of Credit

$1,500,000                                                     Beverly Hills, CA
                                                               October 1, 2000

FOR VALUE RECEIVED, the undersigned, iLive, inc. (formerly Powerhouse
International Corporation) its assigns, and successors (the "Company") hereby
promises to pay to the order of Street Capital, Inc. or its assigns (the
"Purchaser") in lawful money of the United States of America, an in immediately
available funds, the principal sum borrowed against the One Million Five Hundred
Thousand Dollar ($1,500,000) line of credit. The principal sum and any unpaid
interest thereon shall be due and payable on or before 5:00 pm Pacific Standard
Time, on March 7, 2002 (unless such payment date is accelerated as provided in
Section 5 hereof, extended as provided in section 2 hereof, or unless this Note
is converted as set forth in paragraph 1 hereof) ("Maturity"). Payment of all
amounts due hereunder shall be made at the address of the Purchaser provided for
in Section 6 hereof. The Company further promises to pay interest at the rate of
twelve percent per annum (12%) on the outstanding principal balance borrowed
against the Note, such interest will be payable upon maturity.

         1.   CONVERSION. The Purchaser of this Note is entitled at its option,
              at any time, upon fifteen (15) day's notice, and in whole or in
              part, until maturity hereof (as extended by Purchaser) to convert
              the principal amount of this Note or any portion of the principal
              amount hereof into Shares of the Common Stock of the Company at a
              conversion price for each share of common stock equal to $0.25.
              Such conversion shall be effectuated by surrendering the Note to
              be converted to the Company, with the form of Conversion Notice
              attached hereto as Exhibit A, executed by the Purchaser of this
              Note evidencing such Purchaser's intention to convert this Note or
              a specified portion hereof (as above provided). The date on which
              such Conversion Notice is given shall be deemed to be the date on
              which the Purchaser has delivered this Note, with the Conversion
              Notice duly executed, the Company or, if earlier, the date set
              forth in such Conversion Notice if this Note and such Conversion
              Notice is received by the Company within five business days after
              the date set forth in the Conversion Notices.

The Company agrees to take whatever steps are necessary to authorize and
reserve, free of preemptive rights and other similar contractual rights of stock
holders, a sufficient number of its authorized but not issued shares of its
Common Stock to satisfy the rights of conversion of the holder of this Note.

Any certificates representing Conversion Shares transferred to Purchaser which
are not registered for resale without restriction under the Securities Act or
applicable state securities laws shall be endorsed with the following legend:

THE SHARES OF COMMON STOCK REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMMENDED (THE "SECURITIES ACT")
OR ANY APPLICABLE STATE SECURITIES LAW AND MAY NOT BE TRANSFERRED UNLESS (i)
THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH
APPLICABLE SECURITIES LAWS, OR (ii) IN THE OPINION OF COUNSEL REASONABLE


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         ACCEPTABLE TO THE COMPANY REGISTRATION UNDER THE SECURITIES ACT OR SUCH
         APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH
         SUCH TRANSFER.

         1.   EXTENSION OF MATURITY DATE. Purchaser shall have the right in its
              sole discretion, to extend the maturity of this Note for up to
              five one-year periods, each such extension exercisable only by the
              Purchaser by delivering to the Company written notice of such
              extension at any time prior to the maturity date then in effect.

         2.   PREPAYMENT. The Company may at its option at any time and from
              time to time, prepay all or any part of the principal balance of
              this Note, without penalty or premium, provided that concurrently
              with each such prepayment the Company shall pay accrued interest
              on the principal so prepaid to the date of such prepayment.

         3.   TRANSFERABILITY. This Note shall not be transferred, pledged,
              hypothecated, or assigned by the Holder without the express
              written consent of the Company.

         4.   DEFAULT. The occurrence of any one of the following events shall
              constitute an Event of Default.

                  a.       The non-payment, when due, of any principal or
                           interest pursuant to this Note.

                  b.       The Material breach of any representation or warranty
                           in this Note. In the event the Purchaser becomes
                           aware of a breach of this Section 7(b), the Purchaser
                           shall notify the Company in writing of such breach
                           and the Company shall have five business days after
                           notice to cure such breach;

                  c.       The breach of any covenant or undertaking, not
                           otherwise provided for in this Section 7;

                  d.       A default shall occur in the payment when due
                           (subject to any applicable grace period), whether by
                           acceleration or otherwise, of any indebtedness of the
                           Company or an event of default or similar event shall
                           occur with respect to such indebtedness, if the
                           effect of such default or event (subject to any
                           required notice and any applicable grace period)
                           would be to accelerate the maturity of any such
                           indebtedness or to permit the holder or holders of
                           such indebtedness to cause such indebtedness to
                           become due and payable prior to its express maturity.

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                  e.       The commencement by the Company of any voluntary
                           proceeding under any bankruptcy, reorganization,
                           arrangement, insolvency, readjustment of debt,
                           receivership, dissolution, or liquidation law or
                           statute of any jurisdiction, whether now or hereafter
                           in effect: or the adjudication of the Company as
                           insolvent or bankrupt by a decree of a court of
                           competent jurisdiction; or the petition or
                           application by the Company for, acquiescence in , or
                           consent by the Company to, the appointment of any
                           receiver or trustee for the Company or for all or a
                           substantial part of the property of the Company ; or
                           the assignment by the Company for the benefit of
                           creditors; or the written admission of the Company of
                           its inability to pay its debts as they mature; or

                  f.       The commencement against the Company of any
                           proceeding relating to the Company under any
                           bankruptcy, reorganization, arrangement , insolvency,
                           adjustment of debt, receivership, dissolution, or
                           liquidation law or statute of any jurisdiction,
                           whether now or hereafter in effect, provided,
                           however, that the commencement of such a proceeding
                           shall not constitute and Event of Default unless the
                           Company consents to the same or admits in writing the
                           material allegations of same, or admits in writing
                           the material allegations of same , or said proceeding
                           shall remain undismissed for 20 days; or the issuance
                           of any order, judgement or decree for the appointment
                           of a receiver or trustee for the Company or for all
                           or a substantial part of the property of the Company,
                           which order, judgement or decree remains undismissed
                           for 20 days, or a warrant of attachment , execution
                           or similar process shall be issued against any
                           substantial part of the property of the Company.


              Upon the occurrence of any Default or Event of Default the
              Purchaser, may be written notice to the Company declare all or any
              portion of the unpaid principal amount due to Purchaser, together
              with all accrued interest thereon immediately due and payable in
              which event it shall immediately be and become due and payable
              provided that upon the occurrence of an Event of Default as set
              forth in paragraph (a) or paragraph (f) hereof, all or any portion
              of the unpaid principal amount due to Purchaser, together with all
              accrued interest thereon, shall immediately become due and payable
              without any such notice.

         5.   NOTICES. Notices to be given hereunder shall be in writing and
              shall be deemed to have been sufficiently given if delivered
              personally or sent by overnight courier or messenger or by
              registered or certified mail (air mail if overseas), return
              receipt requested, or by telex, facsimile transmissions, telegram
              or similar means of communication. Notice shall be deemed to have
              been received on the date and time of personal delivery, telex,
              facsimile transmission, telegram or similar means of
              communication, or if sent by overnight courier or messenger, shall
              be deemed to have been received on the next deliver day after
              deposit with the courier or messenger or if sent by certified
              mail, return receipt requested, shall be deemed to have been
              received on the third business day after the date of mailing.
              Notices shall be given to the following addresses:
<PAGE>


         If to the Company:

         ILive Inc.
         242 N Canon Dr. 3rd Floor
         Beverly Hills, Ca 90210
         Facsimile No: 310-285-0966

         With a Copy to:

         Law Offices of M Richard Cutler
         610 Newport Center Drive, Suite 800
         Newport Beach, CA 92660
         Attn: M Richard Cutler, Esq.
         Facsimile No: 949-719-1988

         If to the Purchaser:

         242 N Canon Drive
         Beverly Hills, CA 90210
         Facsimile No: 310-285-0966

6.       REPRESENTATIONS AND WARRANTIES. The Company hereby makes the following
         representations and warranties to the Purchaser:

         a.       ORGANIZATION, GOOD STANDING AND POWER. The Company is a
                  corporation duly incorporated, validly existing and in good
                  standing under the laws of the State of Nevada and has the
                  requisite corporate power to own, lease and operate its
                  properties and assets and to conduct its business as it is now
                  being conducted.

         b.       AUTHORIZATION: ENFORCEMENT. The Company has the requisite
                  corporate power and authority to enter into and perform this
                  Note and to issue and sell this Note, and the Conversion
                  Shares in accordance with the terms hereof. The execution ,
                  delivery and performance of this Note, by the Company and the
                  consummation by it of the Transactions contemplated hereby and
                  thereby have been duly and validly authorized by all necessary
                  corporate action, and that the Company hereby warrants that it
                  will take whatever action is necessary to authorize and
                  reserve, free of preemptive rights and other similar
                  contractual rights of stockholders, a sufficient number of its
                  authorized but unissued shares of its Common Stock to satisfy
                  the rights of conversion of the holder of this Note. This Note
                  when executed and delivered, will constitute a valid and

<PAGE>

                  binding obligation of the Company enforceable against the
                  Company in accordance with its terms, except as such
                  enforceability may be limited by applicable bankruptcy,
                  insolvency, reorganization, moratorium, liquidation,
                  conservatorship, receivership or similar laws relating to, or
                  affecting generally the enforcement of creditor's rights and
                  remedies or by other equitable principles of general
                  application.

         c.       ISSUANCE OF NOTE. The Note issued hereunder and the Conversion
                  Shares to be issued upon conversion of the Note have been duly
                  authorized by all necessary corporate action and, when paid
                  for or issued in accordance with the terms hereof, will be
                  validly issued and outstanding, fully paid and non-assessable
                  and entitled to the rights and preferences set forth herein.


         d.       DISCLOSURE. Neither this Note nor any other document,
                  certificate or instrument furnished to the Purchaser by or on
                  behalf of the Company in connection with the transactions
                  contemplated by this Note contains any untrue statement of a
                  material fact or omits to state a material fact necessary in
                  order to make the statement made herein or therein, in the
                  light of the circumstances under which they were made herein
                  or therein not misleading.

         Purchaser hereby makes the following representations and warranties to
         the Company

                  1.       ACQUISITION FOR INVESTMENT. Purchaser is purchasing
                           the Note solely for its own account for thee purpose
                           of investment and not with a view to or for sale in
                           connection with a distribution. Purchaser does not
                           have a present intention to sell the Note or the
                           Conversion Shares nor a present arrangement (whether
                           or not legally binding) or intention to effect any
                           distribution of the Note or the Conversion Shares to
                           or through any person entity, provided, however, that
                           by making the representations herein , such Purchaser
                           does not agree to hold the Note or the Conversion
                           Shares for any minimum or other specific term and
                           reserves the right to dispose of the Note or the
                           Conversion Shares at any time in accordance with
                           Federal securities laws applicable to such
                           disposition. Such Purchaser acknowledges that it is
                           able to bear the financial risks associated with an
                           investment in the Note or Conversion Shares and that
                           it has been given full access to such records of the
                           Company and the subsidiaries and to the officers of
                           the Company and the subsidiaries as it has deemed
                           necessary and appropriate to conduct its due
                           diligence investigation.

                  2.       ACCREDITED PURCHASERS. Such Purchaser is an
                           "accredited investor" as defined in Regulation D
                           promulgated under the Securities Act.

<PAGE>

7.       CONSENT TO JURISDICTION AND SERVICE OF PROCESS. The Company comments to
         the jurisdiction of any court of the State of California and of any
         federal court located in California.

8.       GOVERNING LAW. THIS NOTE HAS BEEN DELIVERED IN BEVERLY HILLS CALIFORNIA
         AND SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE
         WITH THE LAWS OF THE STATE OF CALIFORNIA APPLICABLE TO CONTRACTS MADE
         AND TO BE PERFORMED ENTIRELY THEREIN WITHOUT GIVING EFFECT TO THE RULES
         OR PRINCIPLES OF CONFLICTS OF LAW.

9.       ATTORNEYS FEES. In the event the Purchaser or any holder hereof shall
         refer this Note to an attorney for collection, the Company agrees to
         pay all the costs and expenses incurred in attempting or effecting
         collection hereunder or enforcement of the terms of this Note,
         including reasonable attorney's fees, whether or not such is
         instituted.

10.      CONFORMITY WITH LAW. It is the intention of the Company and of the
         Purchaser to conform strictly to applicable usury and similar laws.
         Accordingly, notwithstanding anything to the contrary in this Note, it
         is agreed that the aggregate of all charges which constitute interest
         under applicable usury and similar laws that are contracted for,
         chargeable or receivable under or in respect of this Note, shall under
         no circumstances exceed the maximum amount of interest permitted by
         such laws, and any excess, whether occasioned by acceleration or
         maturity of this Note or otherwise, shall be canceled automatically,
         and if therefore paid, shall be either refunded to the Company or
         credited on the principal amount of this Note.

IN WITNESS WHEREOF, the Company has signed and sealed this Notes and delivered
it in Beverly Hills, California as of October 1 , 2000.



ATTEST:                                    iLive, Inc.

/s/ Mary Moriarty                          By: /s/ Albert Aimers, Chairman
-----------------------                       ----------------------------------
Mary Moriarty, Director                         Albert Aimers, Chairman


                                           Street Capital


                                           By: /s/ Scott Henricks, President
                                               ---------------------------------
                                               Scott Henricks, President