Exhibit 10.7
15 November 2006

PROTRUST FINANCIAL SERVICES GROUP SA
Via Frasca 5, PO Box 5237,
CH-6901, Lugano,
Switzerland

            For the attention of: Alex Bell - Chief Executive Officer
Dear Alex,

Promissory Note, Share Pledge Agreement,  Put Option Deed, Transitional Services
Agreement and Sale and Purchase Agreement

I refer to the above agreements entered into by Tally-Ho Ventures, Inc
("Tally-Ho") and Protrust Financial Services Group SA ("Protrust") on 4 August
2006 relating to the sale and purchase of all of the issued shares of Protrust
Private Clients SA (the "Agreements").

Following our discussions, I have detailed below the Repayment Proposal that
sets out how Tally-Ho intend to discharge it's indebtedness of USD3,000,000
(Three Million US Dollars) to Protrust for your acceptance.

Tally-Ho agrees, notwithstanding Protrust's acceptance of this proposal, that
the Agreements shall remain in full force and effect and that any acceptance of
this Repayment Plan by Protrust would be without prejudice to Protrust's rights
under the Agreements. Tally-Ho furthers acknowledges that to the extent that
Tally-Ho does not comply with this Repayment Proposal, Protrust will have resort
in full to its rights under the Agreements and acceptance of this proposal
agreement does not constitute a variation or waiver thereof.

Capitalised terms herein shall have the meaning ascribed to them in the
Agreements save to the extent defined herein.

In consideration for Protrust refraining from exercising its security, it is
hereby agreed as follows:

1.       Tally-Ho will use its best endeavours to procure a purchaser for the
         Consideration Stock at a price exceeding USD2,000,000 (Two Million US

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         Dollars). For the avoidance of doubt the identification of a purchaser
         does not oblige Protrust to sell the Consideration Stock.

2.       Tally-Ho agrees that its indebtedness to Protrust, currently
         represented by the sum of USD3,000,000 (Three Million US Dollars) due
         to Protrust under the Promissory Note, will be increased by the extent
         to which any price received by Protrust for the Consideration Shares is
         less than USD3,000,000 (Three Million US Dollars).

3.       In order to discharge its indebtedness under the Promissory Note
         together with any additional indebtedness arising by virtue of the
         operation of paragraph 2 above, Tally-Ho will make quarterly payments
         to Protrust on 31 March, 30 June, 30 September, 31 December 2007 and
         each successive quarter day thereafter until Tally-Ho's indebtedness is
         discharged.

4.       The quarterly  payments provided for in paragraph 3 above shall each be
         in the sum of USD350,000 (Three Hundred and Fifty Thousand US Dollars).

5.       It is further agreed by Tally-Ho that the Bank Points, which are
         currently held to Tally-Ho's order by Protrust AG pursuant to the terms
         of a letter from Protrust AG to Tally-Ho dated 4 August 2006, will now
         be retained by Protrust and set-off against the quarterly payments due
         from Tally-Ho provided for in clauses 3 and 4 above until the full
         amount of the indebtedness is discharged. Protrust will, in advance of
         each quarterly payment, notify Tally-Ho of the Bank Points which have
         accrued in the preceding quarter and Tally-Ho may reduce the quarterly
         payment by this amount.

6.       In addition to the payments provided for in paragraphs 3 and 4 above
         Tally-Ho shall, within two weeks following the quarter days set out in
         clause 3 above, pay to Protrust a sum representing the extent to which
         the profits of Tally-Ho and all of its subsidiary companies (other than
         where Tally-Ho is restricted from receiving dividends from that
         subsidiary by agreement dated prior to today's date) have in the
         immediately preceding quarter exceeded their working capital

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         requirements. For these purposes working capital requirements are
         defined as the operational costs of the business for a three month
         period. Tally-Ho will, concurrent with the making of such payments,
         provide to Protrust information sufficient for Protrust to satisfy
         itself as to the calculation of the payments made.

7.       Tally-Ho agrees and warrants that any monies raised by it or its
         subsidiaries, other than to provide for working capital as defined in
         paragraph 6 above, whether by way of stock placement, borrowing or
         otherwise will be utilised first to discharge its indebtedness to
         Protrust under the Agreements and that such monies raised may only be
         used for other purposes once such indebtedness has been discharged.

8.       Tally-Ho agrees and warrants that it will take no actions which will in
         any way damage or compromise the value of the security granted to
         Protrust pursuant to the Share Pledge.

9.       Save to the extent inconsistent with the provisions hereof, the
         provisions of the Sale and Purchase Agreement shall be applicable to
         this letter.

If these terms would be acceptable to Protrust please sign below to evidence
your agreement.

Yours faithfully,

s/d
Nigel Gregg
For and on behalf of the Board of Tally-Ho Ventures, Inc

For acceptance,

s/d
Alex Bell                                                     Dated 15 Nov 2006

For and on behalf of the Board of Protrust Financial Services Group SA