THIS NOTE HAS NOT BEEN  REGISTERED  UNDER THE SECURITIES
            ACT OF  1933,  AS  AMENDED.  THIS  NOTE MAY NOT BE SOLD,
            OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE
            OF AN EFFECTIVE  REGISTRATION  STATEMENT AS TO THIS NOTE
            UNDER  SAID  ACT OR AN  OPINION  OF  COUNSEL  REASONABLY
            SATISFACTORY TO CONSPIRACY  ENTERTAINMENT HOLDINGS, INC.
            THAT SUCH REGISTRATION IS NOT REQUIRED.

                                        NOTE

      FOR VALUE RECEIVED, CONSPIRACY ENTERTAINMENT HOLDINGS, INC., a Utah
corporation (hereinafter called "Borrower"), hereby promises to pay to
_________________________, ____________________, (the "Holder") or order,
without demand, the sum of One Hundred and Eleven Thousand Eight Hundred Dollars
($111,800.00), on February 1, 2006 (the "Maturity Date").

      This Note has been entered into pursuant to the terms of a Amendment,
Modification and Consent Agreement between the Borrower and the Holder and other
recipients of secured Notes similar to this Note, dated of even date herewith
(the "Amendment"), and shall be governed by the terms of such Amendment. Unless
otherwise separately defined herein, all capitalized terms used in this Note
shall have the same meaning as is set forth in the Amendment. The following
terms shall apply to this Note:

                                     ARTICLE I

                                 GENERAL PROVISIONS

      1.1 Payment Grace Period. The Borrower shall have a five (5) business day
grace period to pay any monetary amounts due under this Note, after which grace
period a default interest rate of fifteen percent (15%) per annum shall apply to
the amounts owed hereunder.

      1.2 Repayment. The Note and all sums due hereunder shall be payable in
full on the Maturity Date; provided, that if an Event of Default has occurred
(whether or not such Event of Default is continuing), the Borrower may not pay
this Note without the consent of the Holder until the later of the Maturity Date
or until one year after the Event of Default has been cured.

      1.3 Lender's Contribution. These funds are provided as the Lender's
contribution to a joint venture arrangement with the Borrower in connection with
the Borrower's development, production and commercialization of the videogame
originally released under the name `Kollon' in Japan by Cyberfront Corporation
on the Sony PSP platform ("Puzzle Game Venture").

      1.4 Borrower's Profits. In consideration of Lender's contribution to the
Puzzle Game Venture, Borrower shall pay the Lender in addition to the repayment
of the Principal, Lender's Proportionate Share of fifty percent (50%) of the
profit earned by Borrower on the Puzzle Game Venture, up to a maximum of Three
Hundred Thousand Dollars ($300,000) ("Borrower's Profits") for all Lenders who
receive Notes pursuant to the Amendment. Borrower's Profits is defined as
follows: Unit cost of $15.75 less manufacturing and license fee not to exceed in
the aggregate $8.00 per unit.


<PAGE>

                                     ARTICLE II

                                EVENT OF DEFAULT

            The occurrence of any of the following events of default ("Event of
Default") shall, at the option of the Holder hereof, make all sums of principal
and interest then remaining unpaid hereon and all other amounts payable
hereunder immediately due and payable, upon demand, without presentment, or
grace period, all of which hereby are expressly waived, except as set forth
below:

            2.1 Failure to Pay Principal or Interest. The Borrower fails to pay
any installment of principal, interest or other sum due under this Note when due
and such failure continues for a period of five (5) business days after the due
date. The five (5) business day period described in this Section 2.1 is the same
five (5) business day period described in Section 1.1 hereof.

            2.2 Breach of Covenant. The Borrower breaches any material covenant
or other term or condition of the Subscription Agreement or this Note in any
material respect and such breach, if subject to cure, continues for a period of
ten (10) business days after written notice to the Borrower from the Holder.

            2.3 Breach of Representations and Warranties. Any material
representation or warranty of the Borrower made herein, in the Subscription
Agreement, or in any agreement, statement or certificate given in writing
pursuant hereto or in connection therewith shall be false or misleading in any
material respect as of the date made and a Closing Date.

            2.4 Receiver or Trustee. The Borrower shall make an assignment for
the benefit of creditors, or apply for or consent to the appointment of a
receiver or trustee for it or for a substantial part of its property or
business; or such a receiver or trustee shall otherwise be appointed.

            2.5 Judgments. Any money judgment, writ or similar final process
shall be entered or filed against Borrower or any of its property or other
assets for more than $50,000, and shall remain unvacated, unbonded or unstayed
for a period of thirty (30) days.

            2.6 Bankruptcy. Bankruptcy, insolvency, reorganization or
liquidation proceedings or other proceedings or relief under any bankruptcy law
or any law, or the issuance of any notice in relation to such event, for the
relief of debtors shall be instituted by or against the Borrower and if
instituted against Borrower are not dismissed within 45 days of initiation.

            2.7 Cross Default. A default by the Borrower of a material term,
covenant, warranty or undertaking of any other agreement to which the Borrower
and Holder are parties, including the Amendment and Transaction Documents, or
the occurrence of a material event of default under any such other agreement
which is not cured after any required notice and/or cure period.

                                   ARTICLE III

                                SECURITY INTEREST

            3. Security Interest/Waiver of Automatic Stay. This Note is secured
by a security interest granted to the Holder pursuant to Security Interest
Agreements, as delivered by Borrower to Holder as security for repayment of
principal Borrower's Profit and any sums due hereunder. The Borrower
acknowledges and agrees that should a proceeding under any bankruptcy or
insolvency law be commenced by or against the Borrower, or if any of the

<PAGE>

Collateral (as defined in the Security Agreement) should become the subject of
any bankruptcy or insolvency proceeding, then the Holder should be entitled to,
among other relief to which the Holder may be entitled under the Amendment and
any other agreement to which the Borrower and Holder are parties (collectively,
"Loan Documents") and/or applicable law, an order from the court granting
immediate relief from the automatic stay pursuant to 11 U.S.C. Section 362 to
permit the Holder to exercise all of its rights and remedies pursuant to the
Loan Documents and/or applicable law. THE BORROWER EXPRESSLY WAIVES THE BENEFIT
OF THE AUTOMATIC STAY IMPOSED BY 11 U.S.C. SECTION 362. FURTHERMORE, THE
BORROWER EXPRESSLY ACKNOWLEDGES AND AGREES THAT NEITHER 11 U.S.C. SECTION 362
NOR ANY OTHER SECTION OF THE BANKRUPTCY CODE OR OTHER STATUTE OR RULE
(INCLUDING, WITHOUT LIMITATION, 11 U.S.C. SECTION 105) SHALL STAY, INTERDICT,
CONDITION, REDUCE OR INHIBIT IN ANY WAY THE ABILITY OF THE HOLDER TO ENFORCE ANY
OF ITS RIGHTS AND REMEDIES UNDER THE LOAN DOCUMENTS AND/OR APPLICABLE LAW. The
Borrower hereby consents to any motion for relief from stay that may be filed by
the Holder in any bankruptcy or insolvency proceeding initiated by or against
the Borrower and, further, agrees not to file any opposition to any motion for
relief from stay filed by the Holder. The Borrower represents, acknowledges and
agrees that this provision is a specific and material aspect of the Loan
Documents, and that the Holder would not agree to the terms of the Loan
Documents if this waiver were not a part of this Note. The Borrower further
represents, acknowledges and agrees that this waiver is knowingly, intelligently
and voluntarily made, that neither the Holder nor any person acting on behalf of
the Holder has made any representations to induce this waiver, that the Borrower
has been represented (or has had the opportunity to he represented) in the
signing of this Note and the Loan Documents and in the making of this waiver by
independent legal counsel selected by the Borrower and that the Borrower has
discussed this waiver with counsel.

                                   ARTICLE IV

                                  MISCELLANEOUS

            4.1 Failure or Indulgence Not Waiver. No failure or delay on the
part of Holder hereof in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of
any such power, right or privilege preclude other or further exercise thereof or
of any other right, power or privilege. All rights and remedies existing
hereunder are cumulative to, and not exclusive of, any rights or remedies
otherwise available.

            4.2 Notices. All notices, demands, requests, consents, approvals,
and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii)
deposited in the mail, registered or certified, return receipt requested,
postage prepaid, (iii) delivered by reputable air courier service with charges
prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile, addressed
as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or
permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the address or number designated below (if
delivered on a business day during normal business hours where such notice is to
be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours where such notice is
to be received) or (b) on the second business day following the date of mailing
by express courier service, fully prepaid, addressed to such address, or upon
actual receipt of such mailing, whichever shall first occur. The addresses for
such communications shall be: (i) if to the Borrower to: Conspiracy
Entertainment Holdings, Inc.,612 Santa Monica Blvd, Santa Monica, California
90401, Attn: Sirus Ahmadi, CEO, telecopier: (310) 260-6150, and (ii) if to the

<PAGE>

Holder, to the name, address and telecopy number set forth on the front page of
this Note, with a copy by telecopier only to Grushko & Mittman, P.C., 551 Fifth
Avenue, Suite 1601, New York, New York 10176, telecopier number: (212) 697-3575.

            4.3 Amendment Provision. The term "Note" and all reference thereto,
as used throughout this instrument, shall mean this instrument as originally
executed, or if later amended or supplemented, then as so amended or
supplemented.

            4.4 Assignability. This Note shall be binding upon the Borrower and
its successors and assigns, and shall inure to the benefit of the Holder and its
successors and assigns.

            4.5 Cost of Collection. If default is made in the payment of this
Note, Borrower shall pay the Holder hereof reasonable costs of collection,
including reasonable attorneys' fees.

            4.6 Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of New York. Any action brought by either
party against the other concerning the transactions contemplated by this
Agreement shall be brought only in the state courts of New York or in the
federal courts located in the state of New York. Both parties and the individual
signing this Agreement on behalf of the Borrower agree to submit to the
jurisdiction of such courts. The prevailing party shall be entitled to recover
from the other party its reasonable attorney's fees and costs.

            4.7 Maximum Payments. Nothing contained herein shall be deemed to
establish or require the payment of a rate of interest or other charges in
excess of the maximum permitted by applicable law. In the event that the rate of
interest required to be paid or other charges hereunder exceed the maximum
permitted by such law, any payments in excess of such maximum shall be credited
against amounts owed by the Borrower to the Holder and thus refunded to the
Borrower.

            4.8 Redemption. This Note may not be redeemed or called without the
consent of the Holder.



                    [THIS SPACE INTENTIONALLY LEFT BLANK]


<PAGE>

      IN WITNESS WHEREOF, Borrower has caused this Note to be signed in its
name by an authorized officer as of the ____ day of August, 2005.

                                    Conspiracy Entertainment Holdings, Inc.



                                    By:
                                       --------------------------------


WITNESS:




--------------------------------------