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                                                                     EXHIBIT 4.1

                          Generation Capital Associates
                              1085 Riverside Trace
                                Atlanta, GA 30328
                        Tel 404/303-8450 Fax 404/257-9125

                 Integrated Business Systems and Services, Inc.
                              1601 Shop Road, Ste E
                              Columbia, S.C. 29201
                        Tel 803/736-5595 Fax 803/736-7735

                          Securities Purchase Agreement

1. Amount of Financing     $250,000 (Purchase Amount).

2. Purchaser(s)            Generation Capital Associates (GCA) and other
                           accredited investors (collectively Purchaser(s)), and
                           their transferees and assigns (Holder(s)).

3. Securities - Units      312,500 Units (Units) each unit consisting of 4
                           shares of Integrated Business Systems, Inc. (IBSS)
                           Convertible Preferred Stock (IBSS Preferred Stock)
                           and 3 warrants (IBSS Warrants). One share of IBSS
                           Preferred Stock is convertible into one share of IBSS
                           common stock. One IBSS Warrant is exercisable into
                           one share of IBSS Common Stock. The per unit purchase
                           price (Unit Purchase Price) shall be $0.80

   Preferred Stock         The IBSS Preferred Stock shall have a liquidation
                           value of $0.20 per share, an initial annual 8 %
                           dividend, payable quarterly, shall be non-voting,
                           shall be non-redeemable, and shall contain customary
                           anti-dilution provisions, which shall not apply to
                           the conversion and/or exercise of any convertible
                           instruments, options or warrants outstanding on the
                           Execution Date, or securities issued pursuant to any
                           stock option plans in effect as of the Closing Date.
                           The IBSS Preferred Stock shall be convertible into
                           IBSS common stock (IBSS Conversion Shares). If the
                           IBSS Conversion Shares have not been registered for
                           resale with a current prospectus available on or
                           before 90 days from the Closing Date (as defined in
                           Section 10 (c)) the dividend shall be increased to
                           twenty-five per cent (25%) per year effective on such
                           date until such registration is effective with a
                           current prospectus available, at which time the
                           dividend rate shall be reduced to 2 % per year.

   Warrants                The strike price of the IBSS Warrants shall be $.40
                           per share. The IBSS Warrants shall be exercisable for
                           five years commencing from the Closing Date (as
                           defined in Section 10(c)) and shall contain customary
                           anti-dilution provisions, which shall not apply to
                           the conversion and/or exercise of any convertible
                           instruments, options or warrants outstanding on the
                           Execution Date, or securities issued pursuant to any
                           stock option plans in effect as of the Closing Date.
                           The IBSS Warrants shall be exercisable for cash;
                           provided however, commencing one year from the
                           Execution Date, the IBSS Warrants shall be "cashless
                           exercise," at the option of the Holder(s), unless the
                           underlying shares (IBSS Warrants Shares) may be sold
                           without restriction pursuant to an effective
                           registration statement with current prospectus
                           available.

4. Document                IBSS shall pay to GCA a document preparation fee of
                           $1,000.00 in the form of

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Preparation Fee            62,500 IBSS Warrants (IBSS Document Preparation
                           Warrants). The IBSS common stock issuable upon
                           exercise of the IBSS Document Preparation Warrants is
                           the IBSS Document Preparation Warrants Shares.

5. Limitations             No Purchaser(s) or Holder(s) of IBSS Preferred Stock,
                           IBSS Warrants, or IBSS Document Preparation Warrants
                           shall be permitted to convert IBSS Preferred Stock
                           into IBSS common stock and/or to exercise any IBSS
                           Warrants or IBSS Document Preparation Warrants to the
                           extent that, after giving effect to such conversion
                           and/or exercise, any such Purchasers(s) or Holder(s)
                           would be the beneficial owner of more than 5% of the
                           then outstanding IBSS common stock. This limitation
                           shall not be deemed to prevent any Purchaser(s) or
                           Holder(s) from acquiring an aggregate of more than 5%
                           of IBSS common stock resulting from such conversion
                           or exercise, so long as such Purchaser(s) or
                           Holder(s) does not own more than 5% at any given
                           time.

6. Registration            IBSS shall file a registration statement (GCA
                           Registration Statement) for the resale of all of the
                           securities issued pursuant to this Agreement within
                           thirty (30) days following the Closing Date; and it
                           shall use its best efforts to cause the GCA
                           Registration Statement to become effective as soon
                           thereafter as possible. If the GCA Registration
                           Statement is not filed within thirty (30) days of the
                           Closing Date (as defined in Section 10(c)) and/or is
                           not effective within one hundred twenty (120) days
                           following the Closing Date with a current prospectus
                           available, the exercise price of the IBSS Warrants
                           and the IBSS Document Preparation Warrants shall be
                           reduced by $0.05 for the first month or part thereof
                           of such late filing and/or late effectiveness and
                           $0.03 for each month or part thereof thereafter, but
                           shall not be less than $0.05 per share; furthermore,
                           IBSS shall issue additional shares of its common
                           stock (Additional Shares) equal to 2% of each
                           Holder(s)' number of shares of IBSS Preferred Stock
                           for each such month or part thereof. These Additional
                           Shares shall be registered in the GCA Registration
                           Statement.

7. Escrow                  David A. Rapaport, General Counsel of GCA, shall act
                           as Escrow Agent for the Purchase Amount, the IBSS
                           Preferred Stock, the IBSS Conversion Shares, the IBSS
                           Warrants, the IBSS Document Preparation Warrants, the
                           IBSS Warrants Shares, the IBSS Document Preparation
                           Warrants Shares, and the Additional Shares. The
                           address of the Escrow Agent is 333 Sandy Springs
                           Circle, Suite 230, Atlanta, GA 30328 (Tel
                           404/257-9150, Fax 404/257-9125).

8. Accuracy of IBSS        IBSS represents and warrants that its filings
SEC Filings                with the SEC in the last two years are true and
                           complete and do not omit any material information
                           or fail to include any information which is necessary
                           to make the information set forth therein not
                           misleading.

9. Execution Date.         This Agreement shall not be valid unless GCA and
                           Escrow Agent have received a facsimile copy of the
                           Agreement signed by IBSS by November 21, 2003 and
                           have each in turn signed the Agreement within two
                           business days of such receipt. The date on which the
                           last signature is affixed shall be the "Execution
                           Date."

10. Closing Schedule       (a) Within five business days following the Execution
                           Date, Purchaser(s) shall deposit the Purchase Amount
                           in good funds with Escrow Agent.

                           (b) Within five business days following the Execution
                           Date, IBSS shall deposit the

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                           following items with Escrow Agent (IBSS Escrow
                           Deposit Items):

                                    (i) certificates for 1,250,000 shares of
                           IBSS Preferred Stock, as a deposit for delivery to
                           Purchaser(s) and/or Holder(s) of the IBSS Preferred
                           Stock (Escrow Preferred Shares), registered in the
                           name of Purchaser(s).

                                    (ii) 937,500 executed IBSS Warrants,
                           registered in the name of Purchaser(s); 62,500
                           executed IBSS Document Preparation Warrants,
                           registered in the name of GCA.

                                    (iii) certificate(s) for 1,250,000 shares of
                           IBSS common stock as a deposit for delivery of the
                           IBSS Conversion Shares (Escrow Conversion Shares) to
                           Holder(s) upon conversion of the IBSS Preferred
                           Stock, registered in the name of Escrow Agent.

                                    (iv) certificate(s) for 1,000,000 shares of
                           IBSS common stock as a deposit for delivery of the
                           937,500 IBSS Warrants Shares to Holder(s) upon
                           exercise of the IBSS Warrants; and for delivery of
                           the 62,500 IBSS Document Preparation Warrants Shares
                           to GCA upon exercise of the Document Preparation
                           Warrants. The IBSS Warrants Shares and the IBSS
                           Document Preparation Warrants Shares (Escrow Warrants
                           Shares) shall be registered in the name of Escrow
                           Agent.

                                    (v) certificates for 525,000 shares of IBSS
                           common stock as a deposit for delivery to Holder(s)
                           of any Additional Shares which shall be registered in
                           the name of Escrow Agent.

                           (c) Within two business days of the receipt of the
                           Purchase Amount from Purchaser(s) and the IBSS Escrow
                           Deposit Items from IBSS, Escrow Agent shall deliver:
                           the Purchase Amount to IBSS; the IBSS Preferred
                           Shares and the IBSS Warrants to Purchaser(s); the
                           IBSS Document Preparation Warrants to GCA. The date
                           upon which the Escrow Agent wires the Purchase Amount
                           to IBSS is the Closing Date.

                           (d) Upon conversion of any IBSS Preferred Shares, the
                           Escrow Agent shall deliver the appropriate number of
                           Escrow Conversion Shares to the converting person,
                           and shall deliver the certificates for the cancelled
                           IBSS Preferred Shares to IBSS.

                           (e) Upon exercise of any IBSS Warrants and/or any
                           IBSS Document Preparation Warrants, the Escrow Agent
                           shall deliver the appropriate number of Escrow
                           Warrant Shares to the exercising person. Within five
                           business days following the expiration of the IBSS
                           Warrants, the IBSS Document Preparation Warrants and
                           the IBSS Placement Agent Warrants, Escrow Agent shall
                           return to IBSS any excess Escrow Warrants Shares.

                           (f) As soon as reasonably practicable after the
                           earlier of (i) twenty-four (24) months from the
                           Closing Date, or (ii) the effective date of the GCA
                           Registration Statement, the Escrow Agent shall return
                           to IBSS any remaining Additional Shares.

                           (g) On the Closing Date the Purchaser(s) shall be
                           deemed to be the owner(s) of the IBSS Preferred
                           Shares and the IBSS Warrants, and GCA shall be deemed
                           the owner of the IBSS Document Preparation Warrants.

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11. Binding Agreement      and (a) The parties shall be legally bound by the
Choice of Law              above terms and shall execute such further documents
                           as may be required to implement the provisions of
                           this Agreement. Facsimile signatures shall be deemed
                           to be original signatures. This Agreement may be
                           signed in two or more counterparts.

                           (b) This Agreement shall be governed by and construed
                           and enforced in accordance with the internal laws of
                           the state of Georgia and applicable Federal laws
                           without regard to conflicts of laws, rules or
                           principles. IBSS consents to the personal
                           jurisdiction of any state or federal court located in
                           Fulton County, Georgia for any litigation arising out
                           of or in connection with this Agreement.

Integrated Business Systems, Inc.

By: /s/ George E. Mendenhall                      Date:    December 24, 2003
    --------------------------------                    -----------------------
    George E. Mendenhall, CEO

Generation Capital Associates

By: /s/ Fred A. Brasch                            Date:    December 24, 2003
    --------------------------------                    -----------------------
    Fred A. Brasch, CFO

Escrow Agent

/s/ David A. Rapaport                             Date:    December 24, 2003
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    David A. Rapaport

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