EXHIBIT 10.29



                        IBIS Commerce & Investment Group,
                                      Ltd.
                               21175 Maekarus Ave.
                                 Nicosia, Cyprus



Mr. Terry Cooke
Chief Executive Officer
Chairman of the Board
Power Interactive Media, Inc.
181 Whitehall Drive
Markham, Ontario, Canada L3R9T1

Re:  Power Interactive Media, Inc.
     Financing in the amount of the EURO equivalent of USD $6,000,000.00.



Dear Mr. Cooke,
We are  pleased  to  confirm,  subject  to your  written  acceptance,  that IBIS
Commerce & Investment  Group,  Ltd.  (hereinafter  referred to as the "Lender"),
will make available to Power Interactive Media, Inc.,  (hereinafter  referred to
as the "Borrower"), a loan (the "Loan"), which shall be subject to the terms and
conditions set forth below (this "Loan Commitment").

AMOUNT
The EURO  equivalent  of Six Million  United  States  Dollars,  to be funded and
repaid by the Borrower in the lawful currency of the European  Union,  the EURO.
The  Loan  shall  be  exclusively  dedicated  for  debt  retirement,  inventory,
operations, and product development of Power Interactive Media, Inc.


<PAGE>


SECTION I

DEFINITIONS
All capitalized  terms contained in this Loan Commitment shall be defined as set
forth below:

AMENDMENTS AND WAIVERS

Any provisions of this Loan Commitment may be amended or waived, only in writing
and at the sole discretion of the Lender.
     (a)  Borrower  may not assign or  otherwise  transfer  any of its rights or
          obligations under this Loan Commitment to any third party.
     (b)  Borrower shall not distribute any copies or partial copies of the Loan
          Commitment  to any third party other than to its legal counsel and any
          other  parties  referenced  in the Loan  Commitment,  without  written
          consent of the Lender.

BORROWER
Shall mean Power Interactive Media, Inc.

BUSINESS DAY
Shall  mean a day other  than  Saturday  or Sunday or a legal  holiday  in which
commercial  national banks located in the State of New York are open for banking
business in the United States of America.

CLOSING DATE
Shall mean the date of execution and delivery of any and all other documents the
Lender and its  counsel(s)  may deem to be  appropriate  and as set forth in the
Conditions Precedent to Closing, to occur on or before November 5th, 2001 in the
United Kingdom.

CONFIDENTIALITY
Shall mean the Lender agrees to hold any Due Diligence  information  that it may
receive  from the  Borrower  pursuant to this Loan  Commitment,  in  confidence,
except for disclosure to: (a) legal counsel,  accountants and other professional
advisors  to the  Borrower,  the  Guarantor,  or the Lender;  (b) to  regulatory
officials having  jurisdiction over the Lender;  (c) as required by law or legal
process or in  connection  with any legal  proceeding  to which the Borrower and
Guarantor(s)  are  a  party;  (d)  to  any  other  financial  institution(s)  in
connection with a disposition or proposed  disposition of all or any part of the
Lender's  interest  hereunder;  and  (e)  with  regard  to  the  Collateral,  in
connection with any disposition thereof, provided, however, that nothing in this
section shall be construed to create or give rise to any  fiduciary  duty on the
part of the Lender to the Borrower or to the Guarantor or to create or give rise
to any  relationship  of confidence or trust from the Lender to the Borrower and
Guarantor.


<PAGE>


CURRENCY
Shall  mean,  for the term of this  transaction,  the EURO,  and repaid in EUROS
unless changed by the Lender prior to closing.

DEFAULT INTEREST RATE
Shall mean in the event that the Borrower  fails to pay the interest on the Loan
or any other amount due,  whether by scheduled  maturity  notice or  prepayment,
acceleration or otherwise,  the Borrower shall, on demand from time to time, pay
interest to the extent  permitted by law, on such past due amount for the period
from the due date to the date of actual  payment,  at a rate per annum  equal to
the current interest rate plus one and one half percent (1.5%).

DISBURSEMENT DATE(S)
Shall mean the date upon which the Lender  advances the Loan  proceeds,  in form
and content fully satisfactory to the Lender. This shall be 7 days following the
Closing Date.

DISCLOSURE
Shall mean that the Borrower consents and agrees to permit the Lender to conduct
any appropriate credit checks and investigations,  warranties and understandings
made by the Borrower and/or the Guarantor to the Lender (the Due Diligence). The
Borrower  and the  Guarantor  hereby  agree  to  fully  cooperate  with  the Due
Diligence  process.  Said Due  Diligence  shall be for the use of the Lender and
shall be fully satisfactory to the Lender, in the Lender's sole discretion.  The
Borrower and the  Guarantor  warrants  that each has  disclosed  any and all Due
Diligence  considered  material in nature and request of the Loan Commitment and
hereby agrees to supplement  all such Due  Diligence  prior to any  Disbursement
Date.

DISPUTE RESOLUTION
Shall mean in the event that any disputes may arise between the parties:

     (a)  At the sole option of the Lender,  the Borrower hereby irrevocably and
          exclusively agrees to submit the disputes within five(5) business days
          for  arbitration  in  accordance  with  the  Commercial  Rules  of the
          International Chamber of Commerce,  Paris, France and each party shall
          pay their expenses for the costs of arbitration.  It is further agreed
          that  all  settlements   established  by  the  arbitration   shall  be
          considered  final and binding between the parties,  and no other legal
          actions or proceedings shall be permitted.  The Borrower and Guarantor
          hereby  exclusively  submit  and  consent  to the  location  of Paris,
          France.
     (b)  If the Lender does not wish to  arbitrate,  then the  Borrower  hereby
          irrevocably consents to the personal jurisdiction of Paris, France.


<PAGE>


DRAW DOWN PERIOD
Shall  mean that time in which the Lender  disburses  the Loan  proceeds  to the
Borrower  in one  disbursement,  unless  modified  by the mutual  consent of the
Borrower and the Lender.

EUROS
Shall mean the lawful currency of the European Union. All figures referred to in
this Loan  Commitment or any of the other Loan Documents are in Lawful  currency
of the European Union unless changed by the Lender prior to Closing.

EVENTS OF DEFAULT
Shall mean those events by which the Borrower  fails to make timely and punctual
repayments  of the Loan to the Lender or fails to  strictly  adhere to any other
covenants  and  conditions  of  lending  or  lending  as set  forth  in the Loan
Documents under a period,  which exceeds the late payment provisions of the Loan
Agreement.

EXPIRATION
Shall  mean the date upon  which  this Loan  Commitment  is no longer n force or
effect,  which  shall  be on or  before  seven  days  following  receipt  by the
Borrower.

GRACE PERIOD
Shall  mean the  period  allowed  by the  Lender  during  which no  interest  or
principal payments are made.  Interest shall be paid on any amounts disbursed to
the Borrower as set forth in Interest Rate and Loan Repayment provisions of this
Loan Commitment.

GUARANTOR
The Guarantor in this instance shall be the Borrower.

INTEREST AND PRINCIPAL REPAYMENT DATES
Shall  mean the date as set  forth in any of the  Loan  Documents  or every  six
months in arrears following Disbursement.

LANGUAGE
Shall mean that this  transaction  and all of the referenced  documents shall be
submitted  to the Lender in the English  language  or with a  certified  English
translation.  Recognized  translators,  approved by the Lender, may only conduct
such translation.  All costs related to such a translation shall be borne by the
Borrower.

LATE PAYMENT FEE
Shall  mean that cost  added to the  outstanding  Loan  balance  at the time any
principal or interest  payments  have not been  received by the Lender after the
payment  grace period.  Said rate shall be one quarter of one percent  (.25%) of
the outstanding balance based upon three hundred and sixty (360) days.

LENDER
Shall mean IBIS Commerce & Investment Group. Ltd.


<PAGE>


LOAN CLOSING
Shall  mean the time at which  the  Borrower  executes  the Loan  Documents  and
delivers said documents to the Lender and or its counsel,  on or before November
5th, 2001, after which time the Loan Commitment shall  automatically  expire and
shall no longer be in force or effect.

LOAN DOCUMENTS
Shall mean Loan Agreement,  Master  Promissory  Note, Time Draft,  The Guarantee
Agreement  and  Instrument  (at option of the Lender) and any and all  Documents
deemed  necessary  and  appropriate  by the Lender and its counsel in connection
with the conditions of lending as set forth in Conditions  Precedent to the Loan
Closing  and the  Conditions  Precedent  to  Disbursement,  whichever  shall  be
applicable.

LOAN ISSUANCE COSTS
The  Borrower  shall  pay to the  Lender  the Loan  Issuance  Costs of three (3)
percent of the gross loan amount as it relates to the issuance and  disbursement
of the Loan.

LOAN PROCEEDS
Shall mean an amount available to the Borrower (in disbursements), not to exceed
the amount of the EURO  equivalent  of Six Million  United  States  Dollars (USD
$6,000,000.00),  with  conversion to be  calculated  and fixed one week prior to
loan closing.

LOAN TERM
Shall mean the period of time from the  Disbursement  Date to the Maturity Date,
in this instance Ten (10) years.  In this  instance,  the loan term shall be ten
years with a renewable  option after the first five years for an additional five
years.

MATURITY DATE
Shall mean ten (10) years beginning with the Disbursement Date.


SECTION II

CONDITIONS PRECEDENT TO CLOSING
The  obligation of the Lender to proceed with the Loan Closing is subject to its
complete and full  satisfaction or written waiver by the Lender and/or its legal
counsel as to the following:

     (a)  The Lender shall have received, in form and substance fully acceptable
          to its legal  counsel,  a legal  opinion from the  Borrower's  and any
          Guarantor's  attorney or law firm, being duly admitted to practice law
          before the highest courts, submitted in the original to the Lender, on
          behalf of the  Borrower.  Such  legal  opinion(s)  shall  contain  the
          following:


<PAGE>


          i)   The Borrower  has executed and  delivered to the Lender this Loan
               Commitment and was authorized to do so.
          ii)  The  Borrower is duly  organized,  validly  existing  and in good
               standing under the laws of the United States of America.
          iii) The  Borrower  is  authorized  to enter  into the Loan and  fully
               perform  under the terms and  conditions  as provided in the Loan
               Documents.
          iv)  The Borrower is authorized to execute the Loan  Documents and was
               authorized to execute and deliver this Loan Commitment.
          v)   There is no  statutory or  regulatory  legal  impediment  for the
               Borrower  to obtain the Loan and that the  Borrower  has (or will
               before Closing), obtained all permits, authorizations,  licenses,
               and approvals by or from all  political and financial  regulatory
               bodies governing loans of this nature and the commercial activity
               for which the Loan is granted.
          vi)  There are no undisclosed  parties of interest to the Loan, and to
               the best of the knowledge of the Borrower's counsel, the Borrower
               is not in  danger  of any  default  of any  obligations  to third
               parties.
          vii) There exist no governmental  impediments prohibiting the Borrower
               from performing all of its respective obligations set forth under
               the Loan Documents.
          viii)The Borrower has all necessary and required  licenses and permits
               to operate,  develop and  perform its  obligations  in the United
               States.

     (b)  While the Loan is  outstanding,  the Borrower shall be restricted from
          selling or transferring  any ownership  interests in the Joint Venture
          between the Lender and the Borrower  without the prior written consent
          of the Lender.  The structure of such Joint Venture shall be contained
          in the Addendum A to the Loan Commitment. The Borrower/Guarantor shall
          deliver to their  counsel for safe  keeping,  their 51% of the Class A
          voting  preferred  stock or equivalent.  The Borrower's  counsel shall
          provide the Lender at the Loan Closing,  a Certificate of safe keeping
          as  relates  to the  Borrower's  ownership  interest  and  shareholder
          certificate.  This  shall  apply  for the term of the  Loan and  Joint
          Venture.
     (c)  The  Borrower  shall have paid all costs  required by it to be paid to
          the Lender prior to and up to the Closing of the Loan.
     (d)  No material  adverse  change  shall have  occurred  in the  respective
          financial  conditions  of the Borrower or Guarantor and that the Board
          of  Directors  of Power  Interactive  Media,  Inc.  has  approved  the
          business plan by appropriate resolutions.
     (e)  All documentation appropriate and relative to the Loan shall have been
          delivered  to the Lender  and its  counsel,  and all legal  matters in
          connection with the Loan  contemplated by this Loan Commitment,  shall
          be in form and substance fully  acceptable to the Lender and its legal
          counsel  and  received  by the  Lender  in  accordance  with this Loan
          Commitment.
     (f)  Within ten (10) Business days prior to the Closing Date,  the Borrower
          shall  provide  the Lender with  projections  of  quarterly  operating
          statements reflecting income, revenues, expenses, and debt service for
          a period  of not less than one (1) year in  detail  expressed  in EURO
          currency and in the English language.


<PAGE>



     (g)  Within  fifteen  (15)  Business  days prior to the Closing  Date,  the
          Borrower   shall  provide  the  Lender  with   appropriate   financial
          statements  issued in  accordance  with the  International  Accounting
          Rules in detail expressing EURO currency,  which  statement(s) are not
          more than  forty-five  (45)  calendar  days  reflecting  the financial
          condition of the Borrower and in the English language.
     (h)  The Lender shall be granted  site  inspection  rights with  reasonable
          notice to the  Borrower.  The  Lender or its  representative  prior to
          and/or after the Loan Disbursement Date, all at the sole option of the
          Lender,  shall  conduct any such  inspections.  Such expense  shall be
          borne by the  Borrower.  For each  fiscal  quarter,  the Lender  shall
          receive  expense  and income  reports,  beginning  the first  calendar
          quarter after the Loan Disbursement Date.
     (i)  The Borrower shall deliver to the Lender, the unconditional  guarantee
          acknowledging  such  obligation  to guarantee  the full  principal and
          interest amount of the Loan for its Term.
     (j)  The Borrower  shall deliver to the Lender such guarantee in a form and
          content  satisfactory  to the Lender and the Lender's  counsel stating
          that the Guarantor,  Power Interactive  Media,  Inc.  acknowledges the
          Loan proceeds will be used for the purposes set forth.


SECTION III

COLLATERAL DOCUMENTS
     (a)  The Borrower and Guarantor  shall  provide the Lender,  as evidence of
          the Loan and as collateral and security for the principal and interest
          payments due under the One (1) Master Promissory Note and delivered to
          the  Lender  in form and  content  acceptable  to the  Lender  and its
          counsel and payable at the bank's counters  designated and directed by
          the Guarantor.
     (b)  The Borrower's  Master Promissory Note for the principal amount of the
          EURO   equivalent   of  Six  Million   United   States   Dollars  (USD
          $6,000,000.00)  plus  interest  shall  have a  guarantee,  which  will
          reflect  the full  faith and credit of such a  financial  institution,
          which will guarantee the loan amount. Any administration of collection
          and repayment to the Lender's  accounts shall be  established  through
          mutual agreement between the Lender and Guarantor.

COUNTER EFFECTIVENESS
This Loan Commitment may be signed in any number of counterparts,  each of which
shall be an original,  with the same effect as the signatures thereto and hereto
upon the same  instrument.  This Loan Commitment shall become effective when the
Lender shall have timely received all counterparts.



<PAGE>



SECTION IV

DISPOSITION OF THE BORROWER'S REMAINING DEPOSITS
After the deduction of the Lender's  costs  incurred to date, any deposit monies
paid by the Borrower  shall be refunded  only in the event of written  notice to
the  Borrower by the Lender that the Lender  elects to decline  closing the Loan
for  reasons  not due to any fault or cause by the  Borrower.  The refund to the
Borrower by the Lender of such  remaining  deposit  monies shall  constitute the
Borrower's  sole remedy under this Loan  Commitment.  In the event the Lender is
prepared to close the Loan,  but the Loan fails to  disburse  for any reason not
due to the fault of or failure/cause by the Lender, then all deposit monies paid
by the Borrower are deemed to be non-refundable.

DUE DILIGENCE
Notwithstanding  the giving of the Loan Commitment  herewith,  the Lender hereby
advises the Borrower  that it reserves the right and will  exercise the right to
conduct its Due  Diligence  up to the very moment  before  execution of the Loan
Documents  and/or the Closing of the Loan.  Due  Diligence  shall consist of and
include,  but  not  limited  to,  further  examination  of  the  Borrower's  and
Guarantor's financial statements, the making of outside inquiries, employing the
services of credit and other agencies and making  telephone and other  inquiries
concerning the Borrower,  the Guarantor,  the underlying project and any and all
matters  ancillary  to, or  associated  with the project in respect of which the
Loan application has been made.

EVENTS OF DEFAULT

If one or more of the  following  Events of Default  shall have  occurred and be
continuing  by the  Borrower  or  Guarantor,  this Loan  Commitment  shall  then
automatically become null and void:
     (a)  The Borrower shall fail to pay when due any costs or any other amounts
          payable under,  or in connection with this Loan Commitment or the Loan
          Documents.  Receipt of principal  payments  shall be subject to a five
          (5) day grace period.
     (b)  The  Borrower  shall fail to observe or perform any  requirements  set
          forth in the conditions of Loan Closing of the Loan Commitment.
     (c)  The  Borrower  shall  fail to observe  or  perform  any  non-financial
          covenants contained in the Loan Documents for a period of fifteen (15)
          calendar days.
     (d)  Any representation,  warranty, covenant, undertaking, certification or
          statement made by the Borrower or Guarantor in the Loan Commitment, or
          in any certificate,  financial  statement or other document  delivered
          pursuant  to  this  Loan  Commitment  shall  prove  to  have  been  an
          incomplete or inaccurate statement, untrue or incorrect in any respect
          when made.
     (e)  The Borrower or  Guarantor  shall  commence a voluntary  case or other
          proceeding  seeking  liquidation,  reorganization or other relief with
          respect  to itself or its debt  under any  bankruptcy,  insolvency  or
          similar law nor or hereafter in effect or seeking the appointment of a
          trustee, receiver, liquidator,  custodian or other similar official of
          it or any  substantial  part of its property,  or shall consent to any


<PAGE>


          such relief or to the appointment of or taking  possession by and such
          official in any involuntary case or other proceeding commenced against
          it, or shall make a general assignment for the benefit of creditors or
          shall  fail  generally  to pay its  debts  as they  come  due.

     (f)  An involuntary case or other proceeding shall be commenced against the
          Borrower, the Project and existing  improvements,  more commonly known
          as "Power Interactive Media, Inc.", or Guarantor seeking  liquidation,
          reorganization  or other  relief with  respect to it or its debt under
          any bankruptcy,  insolvency,  or other similar law now or hereafter in
          effect or seeking the appointment of a trustee, receiver,  liquidator,
          custodian or other similar  official of it or any substantial  part of
          its  property  and such  involuntary  case or other  proceeding  shall
          remain  un-dismissed and un-stayed for a period of sixty (60) days, or
          an order for relief shall be entered  against the  Borrower  under any
          applicable bankruptcy law now or hereafter in effect.
     (g)  The Borrower or  Guarantor,  individually  or  collectively  shall not
          sell,  transfer,  assign,  pledge,  hypothecate,  grant an interest or
          otherwise encumber its interest in any Collateral assigned as security
          for the Loan without the Lender's prior consent.
     (h)  The Borrower or Guarantor shall not amend or modify any Loan Documents
          without the written consent of the Lender.

GOVERNING LAW
This Loan  Commitment and the Loan Documents  shall be constructed in accordance
with and governed by the laws of the United Kingdom and its legal structure.


SECTION V

GOVERNMENT APPROVAL
The Borrower,  if applicable shall provide all registrations  with or notice to,
or  consent  for,  or  approval  of, or any other  action by any  government  or
governmental agency, authority or regulatory body that is or will be required of
it  in  connection  with  the  following:  (i)  the  execution,   delivery,  and
performance of this Loan Commitment by it; (ii) the execution and delivery by it
of any guarantee(s);  (iii) the Loan Documents; or (iv) conversion and export of
any and all EURO  repayments  required under the Loan repayment  terms set forth
herein.

INDEMNITY
In addition to the payment of the Lender's  expenses,  regardless of whether the
transaction  contemplated  hereby  shall be  consummated,  the  Borrower and the
Guarantor hereby agree to indemnify, exonerate, pay and hold harmless the Lender
and  holders  of any  notes  and the  officers,  directors,  partners,  members,
employees and agents of counsel to the Lender or such holders (collectively, the
"Indemnitees" and individually, the


<PAGE>


"Indemnitee")  from and against any and all  liabilities,  obligations,  losses,
damages,  penalties,  actions, cause of action, judgments,  suits, claims, court
expenses of any kind or nature  whatsoever,  including the  reasonable  fees and
expenses of counsel to  Indemnities  (including  allocated  fees and expenses of
legal  counsel of the  Lender),  in  connection  with any  investigative  and/or
administrative  process except in the case of the Lender's  gross  negligence or
wilful misconduct or violation of any law, rule or regulation having application
to the Lender's activities.


SECTION VI

INTEREST RATE AND LOAN REPAYMENT
     (a)  The  Loan  shall  bear an  interest  on the  unpaid  principal  amount
          thereof,  during the period from the Disbursement  Date of the Loan up
          to and  including  the Maturity  Date,  at the fixed rate of three (3)
          points over LIBOR set at the time of Loan Closing.
     (b)  The Borrower  shall make the payment of  principal  along with accrued
          and unpaid interest on the Loan in semi-annual instalments in arrears.
          The first payment of interest and principal  shall commence six months
          from the date of disbursal  of Loan  Proceeds and continue for a total
          of sixty (60) months OR a total of One Hundred and Twenty (120) months
          if the option for renewal is selected.
     (c)  Payment shall be due in effective EUROS in immediately available funds
          to the Lender at the Lender's collection facility as designated by the
          Lender  in the  Notice  and  Communications  provisions  of  the  Loan
          Documents  via  S.W.I.F.T.  Wire of principal and interest on the Loan
          shall be due on a day that if not a Business Day, the date for payment
          thereof shall be extended to the next succeeding Business Day and such
          payment shall be made with accrued  interest to such extended  payment
          date.  If the  date  for any  payment  of  principal  is  extended  by
          operation  of law or  otherwise,  accrued  interest  thereon  shall be
          payable for such extended time.
     (d)  In the event the Loan  granted  herein is not closed by November  5th,
          2001,  and the  Lender,  in its sole  discretion,  elects to close the
          Loan, the Lender at its sole option,  shall additionally have the sole
          right to modify the  interest  rate set for in section  (a) above,  by
          written notification of the Borrower.


SECTION VII

LOAN ISSUANCE COSTS
The  Borrower  shall  pay to the  Lender  the Loan  Issuance  Costs of three (3)
percent of the gross loan amount as it relates to the issuance and  disbursement
of the Loan.

NO MATERIAL MISSTATEMENTS
No information, agreement, report, studies, contracts, furnished by or on behalf
of the Borrower or Guarantor to the Lender in connection with the negotiation of
the Loan or included therein or delivered pursuant thereto contains any material
misstatements of facts or omits to state any material fact necessary to make the
statements contained therein not misleading.


<PAGE>


SECTION VIII

NOTICE AND COMMUNICATION
     (a)  All notices,  requests and other communications to any party hereunder
          shall  be in  writing  (including  bank  wire,  facsimile  or  similar
          writing)  and shall be given to such party as its address or facsimile
          number of such  other  address or  facsimile  number as such party may
          hereafter specify for purpose by appropriate notice as follows:

     For notice to the Lender
                  General Director
                  IBIS Commerce & Investment Group, Ltd.
                  21165 Maekarus Ave.
                  Nicosia, Cyprus

     For notice to the Borrower
                  Mr. Terry Cooke
                  Chairman of the Board and
                  Chief Executive Officer
                  181 Whitehall Drive
                  Markham, Ontario, Canada L3R 9T1

     (b)  Each notice, request or other communication shall be effective
          i)   If given by facsimile,  when such facsimile is transmitted to the
               facsimile number specified in this section;
          ii)  If given by  messenger  or courier  after such  communication  is
               received.

PUBLIC ANNOUNCEMENTS
The Lender  shall  require  notification  and shall review and approve all press
releases or announcements as it relates to the granting of the Loan.

SEVERABILITY OF OFFENDING PROVISIONS
Any provision of this Loan  Commitment,  which is prohibited or unenforceable in
any competent  jurisdiction,  shall, as to such jurisdiction,  be ineffective to
the extent of such  prohibition or  unenforceability  without  invalidating  the
remaining  provisions hereof or affecting the validity or enforceability of such
provision in any other competent jurisdiction.



<PAGE>


Agreed to and Approved by:

IBIS Commerce & Investment Group, Ltd.      Power Interactive Media, Inc.

By:  K. Bin Hum /s/K Bin Hum              By /s/ Terry Cooke
                                               --------------------------------

Title:  Exec. Partner                     Title: President & CEO

Date:                                     Date: August 8, 2001





Confirmed & Approved
LDS TRUST - Kirshburg, Luxemebourg