EXHIBIT 10.22



                                              LOEB HOLDING CORPORATION
                                                    61 Broadway
                                                 New York, NY 10006





                                                                  March 1, 2000



Joseph Perri
10 Whitwell Place
Staten Island, NY 10304


                Re:      Your purchase of Netcruise.com, inc. Common Stock
                         Held by Loeb Holding Corporation, as Agent


Dear Mr. Perri

                  This letter  will serve to confirm the terms of the  agreement
between you and Loeb Holding  Corporation  ("Loeb", a New York Corporation),  as
Agent,  regarding  your purchase  from Loeb of 299,508  shares of the $.0001 par
value  common  stock (the  "Shares")  of  netcruise.com,  inc.  (the  "Company,"
formerly known as "Genisys Reservation  Systems,  Inc.") for a purchase price of
$74,877, which you are paying by electronic transfer.

                  Loeb represents and warrants to you that Loeb holds the Shares
free and clear of any and all claims or  encumbrances  of every  nature and that
this transaction and this letter agreement have been duly and validly authorized
by all required action on Loeb's part and is fully  enforceable  against Loeb in
accordance  with  its  terms.  However,  Loeb is  makes  no  representations  or
warranties, whether oral or written, regarding the status, business or financing
of the Company at this time.

                  You represent and warrant to Loeb the following:

                  (a)      you have a net worth of at least $1,000,000 or more;

                  (b) you have been  furnished  by others with a copy of any and
all information  concerning the Company,  the Shares and any other matters which
you have requested and you understand the disclosure  which has been provided to
you;

                  (c) you have relied solely on the  disclosures  which has been
provided to you by others  regarding  the business and  prospects of the Company
and are not relying on any information from Loeb with regard to the Company, its
status, business or financing;




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                  (d) you have been given the  opportunity  to ask  questions of
and receive answers from the Company  concerning the terms and conditions of the
Shares and its status,  business and  financing and you have also been given the
opportunity  to obtain  such  information  as will be  necessary  to verify  the
accuracy of the  information  which has been provided to you in order for you to
be able to evaluate the merits and risks of your purchase of the Shares;

                  (e)  you  have  determined  that  the  Shares  is  a  suitable
investment  for you in view of your  anticipated  financial  needs  and that can
absorb the loss of your investment at this time and for the  foreseeable  future
without affecting your lifestyle;

                  (f) you are  capable  of  evaluating  merits and risks of this
investment  and that you have relied  upon your own  knowledge,  experience  and
understanding as well as that of your own legal, tax and economic  advisors with
regard to the considerations involved in this investment by you.

                  (g) you will not sell or otherwise transfer the Shares without
registration  under  applicable  federal and state laws or the  availability  of
appropriate  exemptions from such registration and that you fully understand and
agree that you must bear the economic  risk of  investment  in the Shares for an
indefinite  period of time because it has not been registered  under any federal
or state  securities law and therefore  cannot be resold,  pledged,  assigned or
otherwise disposed of unless they are subsequently registered or unless there is
available an exemption from such registration;

(h) you have separately made a non-refundable  equity  investment in the Company
of not less than $2,000,000 in cash or conversion of outstanding debt;

                  (i)  you  are  acquiring  your  interest  in  the  Shares  for
investment   purposes  only  and  not  for  any  distribution,   subdivision  or
fractionalization and that you have no plans, or agreements or arrangements with
any person to sell,  transfer,  pledge or otherwise  dispose of the Shares other
than to the Company; and

                  (j) you have  made all of the  foregoing  representations  and
warranties  knowing that Loeb is relying upon them in executing this transaction
with you and that they shall survive your purchase of the Shares.

                  We mutually agree that this letter agreement  incorporates our
entire understanding and may not be modified, waived, discharged,  terminated or
amended  except  by a  writing  signed  by the  person  against  whom  any  such
modification, waiver, discharge or termination is being asserted.

                  If any  notice  or other  communication  is to be  transmitted
between us, it shall be given by registered or certified  mail,  return  receipt
requested, or delivered personally, or delivered by a confirmed fax transmission
from one to the other at the addresses set forth in this letter agreement.

                  This letter  agreement  will be binding  upon and inure to the
benefit  of each  of us and our  respective  heirs,  executors,  administrators,
successors  and  assigns,  it may be  executed  in any number of copies  each of
which, shall, for all purposes, constitute that one agreement binding on each of
us, will be governed by and construed in  accordance  with the laws of the State
of New York and will not be  transferable  or assignable  except upon our mutual
consent.




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                  If the foregoing  confirms your understanding of the terms and
conditions of our agreement,  please so indicate by signing the enclosed copy of
this letter agreement and returning it to Loeb immediately.

                               Very truly yours,

                               Loeb Holding Corporation, As Agent


                                By: /s/ Warren Bagatelle, Authorized Officer


ACCEPTED AND AGREED:


/s/ Joseph Perri





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