<PAGE>

                                  EXHIBIT 10.16
                                EQUITY SCHEDULE

<PAGE>

<TABLE>
<CAPTION>
<S><C>
SEC RESOLUTION - 11/02/2000 (CONF CALL)             HISTORICAL INFORMATION AS RECORDED        OTCBB
                                                    ----------------------------------        -----
w/ Melanie Dolan & Sharon Virga                           SHARES    $ PER SH  AMOUNT   FMV  DISCOUNT ADJ. FMV  EXPENSE  GRANTED
                                                          -------   --------  -------  ---  -------- --------  -------  -------

Beginning Balance                             1/1/1998    1,142,857          $108,240
                                                       -------------         --------

PRIVATE PLACEMENTS:
APRIL 1998 PRIVATE PLACEMENT
Ron J. Shannon                                4/3/1998      200,000   0.09    17,000  0.09       0%  0.09         -
Mark R. Shannon                               4/3/1998      200,000   0.09    17,000  0.09       0%  0.09         -
Starr Shannon                                 4/3/1998      200,000   0.09    17,000  0.09       0%  0.09         -
Alpine Mercantile                             4/3/1998      114,000   0.09     9,690  0.09       0%  0.09         -
Earl Shannon                                  4/3/1998      200,000   0.09    17,000  0.09       0%  0.09         -
Peter Mettler                                 4/3/1998      200,000   0.09    17,000  0.09       0%  0.09         -
                                                       -------------       ----------                       --------
                                                          1,114,000           94,690                             -
                                                       -------------       ----------                       --------

MAY TO SEPTEMBER 1998 PRIVATE PLACEMENT
Nizar Jiwa                                      Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Winthrop Venture Fund                           Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Winthrop Trust                                  Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Bombaywala Family Trust                         Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Peter Mettler                                   Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Nazir Khaja                                     Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
ZT Worldwide Group                              Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Tariq Roomi                                     Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Steven W. Hudson                                Jun-98      100,000   0.15    15,000  0.15       0%  0.15         -
Montaque Securities                             Sep-98      200,000   0.15    30,000  1.00       0%  1.00   170,000
Noreen Khan                                     Sep-98      300,000   0.15    45,000  1.00       0%  1.00   255,000
                                                       -------------       ----------                       --------
                                                          1,400,000          210,000                        425,000
                                                       -------------       ----------                      ---------
SEPTEMBER 1998 PRIVATE PLACEMENT
Robert M and Mary R. Renfro                  9/10/1998       25,000   1.00    25,000  1.00       0%  1.00         -
Steven W. Hudson                             9/10/1998       50,000   1.00    50,000  1.00       0%  1.00         -
Holly J. Hudson                              9/10/1998       50,000   1.00    50,000  1.00       0%  1.00         -
Ishrat Laeeque                               9/10/1998       50,000   1.00    50,000  1.00       0%  1.00         -
Dennis Marradie (IRA)                        9/10/1998        5,000   1.00     5,000  1.00       0%  1.00         -
                                                       -------------       ----------                      ---------
                                                            180,000          180,000                              -
                                                       -------------       ----------                      ---------

DECEMBER 1998 PRIVATE PLACEMENT
                                                       -------------       ----------                      ---------
Richard and Laura Gladstone                 12/11/1998      400,000   0.63   250,000  0.63       0%  0.63         -
                                                       -------------       ----------                      ---------

TOTAL PRIVATE PLACEMENTS                                  3,094,000          734,690                        425,000
                                                       =============       ==========                      =========

SERVICES RENDERED:
Peter Zmudski                                9/21/1998      250,000   0.63   157,000  1.00       0%  1.00    93,000
Jack Madha                                      May-98       50,000   0.15     7,500  0.15       0%  0.15         -
Noreen Khan                                     May-98      200,000   0.15    30,000  0.15       0%  0.15         -
Noreen Khan                                     May-98      800,000   0.35   280,000  0.35       0%  0.35         -
Ramsey Hakim                                    May-98      250,000   0.35    87,500  0.35       0%  0.35         -
Tariq Khan                                      May-98      500,000   0.35   175,000  0.35       0%  0.35         -
                                                       -------------       ----------                      ---------
TOTAL SERVICES RENDERED                                   2,050,000          737,000                         93,000
                                                       =============       ==========                      ---------


NOVAQUEST ACQUISITION:
NovaQuest                                    9/21/1998      200,000   0.96   192,308  1.00       0%  1.00
Greg Goeser                                  9/21/1998       29,133   0.96    28,013  1.00       0%  1.00
Asif Hudani                                  9/21/1998       76,160   0.96    73,231  1.00       0%  1.00
Zeb Bhatti                                   9/21/1998      150,707   0.96   144,911  1.00       0%  1.00
Dr. Nasir Khaja                              9/21/1998       54,400   0.96    52,308  1.00       0%  1.00
Sheila Johns                                 9/21/1998        9,600   0.96     9,231  1.00       0%  1.00
                                                       -------------       ----------                      ---------
TOTAL NOVAQUEST ASSET PURCHASE                              520,000          500,000                              -
------------------------------
                                                       =============       ==========                      ---------
BALANCE AT 12/31/98 PER FINANCIAL
   STATEMENT                                              6,806,857        2,079,930                        518,000
                                                       =============       ==========                      =========
PRIVATE PLACEMENTS:
Francis & Floyd Horwitz                         Dec-99      200,000   0.25    50,000  0.72       0%  0.72    93,600
                                                       -------------       ----------                      ---------
  TOTAL PRIVATE PLACEMENTS:                                 200,000           50,000                         93,600
                                                       =============       ==========                      ---------
SERVICES RENDERED:
Ramsey Hakim (Over 1 year period)               Nov-98      100,000   0.45    45,000  1.68       0%  1.68   123,000
Manhattan West (Over 1 year period)             Nov-98       66,667   0.45    30,000  1.68       0%  1.68    82,000
Winthrop Venture Management Ltd
   (Over 1 year period)                         Nov-98       66,667   0.45    30,000  1.68       0%  1.68    82,000
                                                       -------------       ----------                      ---------
  TOTAL SERVICES RENDERED                                   233,334          105,000                        287,001
                                                       =============       ==========                      ---------


SEC RESOLUTION - 11/02/2000 (CONF CALL)
                                                                                                         RELATIONSHIP
w/ Melanie Dolan & Sharon Virga              STOCK OPTIONS                DEBT CONVERSION                 TO OFFICER
                                             -------------                ---------------      INTEREST  OR PRINCIPAL
                                            VESTED  EX PRICE  EXPENSE   RATE   AMOUNT  SHARES   EXPENSE   SHAREHOLDER
Beginning Balance                           ------  --------  -------  ------  ------- ------- --------  ------------


PRIVATE PLACEMENTS:
APRIL 1998 PRIVATE PLACEMENT
Ron J. Shannon                                                                                            Unrelated
Mark R. Shannon                                                                                           Unrelated
Starr Shannon                                                                                             Unrelated
Alpine Mercantile                                                                                         Unrelated
Earl Shannon                                                                                              Unrelated
Peter Mettler                                                                                             Unrelated
                                                              -------                          --------
                                                                   -                                 -
                                                              -------                          --------

MAY TO SEPTEMBER 1998 PRIVATE PLACEMENT
Nizar Jiwa                                                                                                Unrelated
Winthrop Venture Fund                                                                                     Unrelated
Winthrop Trust                                                                                            Unrelated
Bombaywala Family Trust                                                                                   Unrelated
Peter Mettler                                                                                             Unrelated
Nazir Khaja                                                                                               Unrelated
ZT Worldwide Group                                                                                        Unrelated
Tariq Roomi                                                                                               Unrelated
Steven W. Hudson                                                                                          Unrelated
Montaque Securities                                                                                       Unrelated
Noreen Khan                                                                                               President
                                                              -------                          --------
                                                                   -                                 -
                                                              -------                          --------

SEPTEMBER 1998 PRIVATE PLACEMENT
Robert M and Mary R. Renfro                                                                               Unrelated
Steven W. Hudson                                                                                          Unrelated
Holly J. Hudson                                                                                           Unrelated
Ishrat Laeeque                                                                                            Unrelated
Dennis Marradie (IRA)                                                                                     Unrelated
                                                              -------                           --------
                                                                   -                                  -
                                                              -------                           --------

DECEMBER 1998 PRIVATE PLACEMENT
Richard and Laura Gladstone                                                                               Unrelated
                                                              -------                           --------
                                                                   -                                  -
                                                              -------                           --------

TOTAL PRIVATE PLACEMENTS
                                                              -------                           --------
                                                                   -                                  -
                                                              =======                           ========

SERVICES RENDERED:
Peter Zmudski                                                                                             Unrelated
Jack Madha                                                                                                Unrelated
Noreen Khan                                                                                               President
Noreen Khan                                                                                               President
Ramsey Hakim                                                                                              Director
Tariq Khan                                                                                                Son of President

TOTAL SERVICES RENDERED
                                                              -------                            --------
                                                                   -                                   -
                                                              -------                            --------

NOVAQUEST ACQUISITION:
NovaQuest                                                                                                 Seller of certain assets
Greg Goeser                                                                                               Unrelated
Asif Hudani                                                                                               Unrelated
Zeb Bhatti                                                                                                Unrelated
Dr. Nasir Khaja                                                                                           Unrelated
Sheila Johns                                                                                              Unrelated
                                                              -------                            --------
                                                                   -                                   -
                                                              -------                            --------

TOTAL NOVAQUEST ASSET PURCHASE
                                                              -------                            --------
                                                                   -                                   -
                                                              -------                            --------

BALANCE AT 12/31/98 PER FINANCIAL
   STATEMENT                                                  =======                            ========

PRIVATE PLACEMENTS:
Francis & Floyd Horwitz                                                                                   Parents of Director
                                                              -------                            --------
                                                                   -                                   -
                                                              -------                            --------

  TOTAL PRIVATE PLACEMENTS:

SERVICES RENDERED:
Ramsey Hakim (Over 1 year period)                                                                         Director
Manhattan West (Over 1 year period)                                                                       Owned by Son of President
Winthrop Venture Management Ltd
   (Over 1 year period)                                                                                   Unrelated
                                                              -------                            --------

  TOTAL SERVICES RENDERED
                                                              -------                            --------
<PAGE>

                                                    HISTORICAL INFORMATION AS RECORDED                     OTCBB
                                                    ----------------------------------                     -----
                                                            SHARES  $ PER SH  AMOUNT            FMV        DISCOUNT ADJ. FMV EXPENSE
                                                            ------- --------  -------           ---        -------- -------- -------

Tariq Khan *                                 9/15/1999      565,000   0.20   113,000  at 5/98   0.15            0%    0.15
Noreen Khan *                               11/12/1999      215,000   0.20    43,000  at 5/98   0.15            0%    0.15
Tariq Khan *                                 12/5/1999    2,635,000   0.20   527,000  at 5/98   0.15            0%    0.15
Noreen Khan *                               12/30/1999       52,435   0.20    10,487  at 5/98   0.15            0%    0.15
Laguna Pacific Partners                         Dec-99                                          0.72            0%    0.72
Strawberry Canyon                               Dec-99                                          0.72            0%    0.72
Knightrider Investments                         Dec-99                                          0.72            0%    0.72
                                                      --------------       ----------                                        -------
TOTAL CONVERTIBLE DEBT                                    3,467,435          693,487                                              -
                                                      ==============       ==========                                        -------
* Pursuant to Convertible Debt
agreement dated 5/98


STOCK OPTIONS - CONSULTANTS:
Lawrence W. Horwitz                         11/12/1999                        60,000            0.88            0%    0.88
Rajiv Vohra - Granted                           Mar-99                                          1.26            0%    1.26
Rajiv Vohra - Cancelled                         Mar-99                                          1.26            0%    1.26
Rajiv Vohra - Exercised                         Mar-99      300,000   0.25    75,000            1.26            0%    1.26
Tariq Khan                                  11/11/1999                                          0.88            0%    0.88
                                                      --------------       ----------                                        -------
TOTAL STOCK OPTIONS - CONSULTANTS                           300,000          135,000                                              -
                                                      --------------       ----------                                        -------


STOCK OPTIONS EMPLOYEES:
Noreen Khan                                 11/11/1999                                          0.88            0%    0.88
Meenaz Hudani                               11/11/1999                                          0.88            0%    0.88
Linda Ruby                                  11/11/1999                                          0.88            0%    0.88
Ramsey Hakim                                11/11/1999                                          0.88            0%    0.88
Mahin Samadani                              11/11/1999                                          0.88            0%    0.88
Felicito Cajayon                            11/11/1999                                          0.88            0%    0.88
Helen Baker                                 11/11/1999                                          0.88            0%    0.88
Steven Moch                                 11/11/1999                                          0.88            0%    0.88
Patricia Columbo                            11/11/1999                                          0.88            0%    0.88
Tom Keller                                  11/11/1999                                          0.88            0%    0.88
Mehraj Hudani                               11/11/1999                                          0.88            0%    0.88
William Chavez                              11/11/1999                                          0.88            0%    0.88
Samuel Gengo                                11/11/1999                                          0.88            0%    0.88
Jesus Espinoza                              11/11/1999                                          0.88            0%    0.88
Collin Bradford                             11/11/1999                                          0.88            0%    0.88
Chad Cantwell                               11/11/1999                                          0.88            0%    0.88
Regina Bolden                               11/11/1999                                          0.88            0%    0.88
Adil Boguirov                               11/11/1999                                          0.88            0%    0.88
Mark Webb                                   11/11/1999                                          0.88            0%    0.88
Mike Soohoo                                 11/11/1999                                          0.88            0%    0.88
Fahd Shaaban                                11/11/1999                                          0.88            0%    0.88
Mona Mulhady                                11/11/1999                                          0.88            0%    0.88
Kevin Falk                                  11/11/1999                                          0.88            0%    0.88
Yohannes Amin                               11/11/1999                                          0.88            0%    0.88
Minhaj Ali                                  11/11/1999                                          0.88            0%    0.88
Donaciano Vigil                             11/11/1999                                          0.88            0%    0.88
Lourdes Baez                                11/11/1999                                          0.88            0%    0.88
Joseph Kalish                               11/11/1999                                          0.88            0%    0.88
Larissa Cozza                               11/11/1999                                          0.88            0%    0.88
Kailash Samatani                            11/11/1999                                          0.88            0%    0.88
Mary Patrick                                11/11/1999                                          0.88            0%    0.88
Tanvir Rajpoot                              11/11/1999                                          0.88            0%    0.88
Gene Trumble                                11/11/1999                                          0.88            0%    0.88
                                                      --------------       ----------                                        -------
TOTAL STOCK OPTIONS EMPLOYEES                                     0                0                                              0
                                                      --------------       ----------                                        -------

TOTAL STOCK OPTIONS                                         300,000          135,000                                              -
                                                      ==============       ==========                                        -------

SUBTOTAL                                                 11,007,626        3,063,417
                                                      ==============       ==========                                        -------

OTHER NON-CASH COMPENSATION EXPENSE                                        2,291,463                                         898,601
                                                      --------------       ----------                                        =======

BALANCE AT 12/31/99 PER FINANCIAL                        11,007,626       $5,354,880
     STATEMENT
                                                      ==============      ==========

Less Equity amount at 12/31/99 as currently
  presented                                                                3,063,417
                                                                          ----------

<CAPTION>

SEC RESOLUTION - 11/02/2000 (CONF CALL)
                                                                                                                        RELATIONSHIP
w/ Melanie Dolan & Sharon Virga                              STOCK OPTIONS            DEBT CONVERSION FEATURES           TO OFFICER
                                                             -------------            ------------------------ INTEREST OR PRINCIPAL
                                               GRANTED      VESTED  EX PRICE  EXPENSE   RATE   AMOUNT  SHARES   EXPENSE  SHAREHOLDER
Beginning Balance                              -------      ------  --------  -------  ------  ------- -------  -------- -----------
<S>                                            <C>          <C>     <C>       <C>      <C>     <C>     <C>      <C>       <C>
CONVERTIBLE DEBT:

Tariq Khan *                                                                            0.20  113,000   565,000  113,000 Son of
                                                                                                                         President
Noreen Khan *                                                                           0.20   43,000   215,000   43,000 President
Tariq Khan *                                                                            0.20  527,000 2,635,000  527,000 Son of
                                                                                                                         President
Noreen Khan *                                                                           0.20   10,487    52,435   10,487 President
Laguna Pacific Partners                                                                 0.30    7,500    25,000    7,500 Partially
                                                                                                                         Owned by
                                                                                                                         Director
Strawberry Canyon                                                                       0.30  142,500   475,000  142,500 Partially
                                                                                                                         Owned by
                                                                                                                         Director
Knightrider Investments                                                                 0.30  100,000   333,333  100,000 Investor
                                                                            ------------     ----------------------------
TOTAL CONVERTIBLE DEBT                                                              -         943,487 4,300,768  943,487
                                                                            ------------     ----------------------------
* Pursuant to Convertible Debt agreement
dated 5/98


STOCK OPTIONS - CONSULTANTS:
Lawrence W. Horwitz                             300,000       60,000   1.75    60,000                              Director
Rajiv Vohra - Granted                           500,000      500,000   0.25   630,000                              Consultant
Rajiv Vohra - Cancelled                        (200,000)    (200,000)  0.25  (252,000)                             Consultant
Rajiv Vohra - Exercised                        (300,000)    (300,000)  0.25                                        Consultant
Tariq Khan                                       13,000       13,000   1.00    11,375                              Consultant
                                         ----------------------------       ----------                    ---------
TOTAL STOCK OPTIONS - CONSULTANTS               313,000       73,000          449,375                            -
                                         ----------------------------       ----------                    ---------


STOCK OPTIONS EMPLOYEES:
Noreen Khan                                     199,000      199,000   1.00         -                              President
Meenaz Hudani                                    25,000       25,000   1.00         -                              Employee
Linda Ruby                                       50,000       50,000   1.00         -                              Employee
Ramsey Hakim                                     13,000       13,000   1.00         -                              Director
Mahin Samadani                                   10,000       10,000   1.00         -                              Employee
Felicito Cajayon                                 35,000       35,000   1.00         -                              Employee
Helen Baker                                       4,000        4,000   1.00         -                              Employee
Steven Moch                                       4,000        4,000   1.00         -                              Employee
Patricia Columbo                                  4,000        4,000   1.00         -                              Employee
Tom Keller                                        3,000        3,000   1.00         -                              Employee
Mehraj Hudani                                    27,000       27,000   1.00         -                              Employee
William Chavez                                    2,000        2,000   1.00         -                              Employee
Samuel Gengo                                      2,000        2,000   1.00         -                              Employee
Jesus Espinoza                                    2,000        2,000   1.00         -                              Employee
Collin Bradford                                   2,000        2,000   1.00         -                              Employee
Chad Cantwell                                     2,000        2,000   1.00         -                              Employee
Regina Bolden                                     2,000        2,000   1.00         -                              Employee
Adil Boguirov                                     2,000        2,000   1.00         -                              Employee
Mark Webb                                         2,000        2,000   1.00         -                              Employee
Mike Soohoo                                       2,000        2,000   1.00         -                              Employee
Fahd Shaaban                                      2,000        2,000   1.00         -                              Employee
Mona Mulhady                                      2,000        2,000   1.00         -                              Employee
Kevin Falk                                        2,000        2,000   1.00         -                              Employee
Yohannes Amin                                     2,000        2,000   1.00         -                              Employee
Minhaj Ali                                        2,000        2,000   1.00         -                              Employee
Donaciano Vigil                                   2,000        2,000   1.00         -                              Employee
Lourdes Baez                                      1,000        1,000   1.00         -                              Employee
Joseph Kalish                                     1,000        1,000   1.00         -                              Employee
Larissa Cozza                                     1,000        1,000   1.00         -                              Employee
Kailash Samatani                                  1,000        1,000   1.00         -                              Employee
Mary Patrick                                      1,000        1,000   1.00         -                              Employee
Tanvir Rajpoot                                    1,000        1,000   1.00         -                              Employee
Gene Trumble                                      1,000        1,000   1.00         -                              Employee
                                                -------      -------           -------                    --------
TOTAL STOCK OPTIONS EMPLOYEES                   411,000      411,000                0                            0
                                                -------      -------           -------                    --------

TOTAL STOCK OPTIONS                             724,000      464,000           418,375                           -
                                                =======      =======           -------                    --------

SUBTOTAL                                                                       -------
                                                                                                          -------
OTHER NON-CASH COMPENSATION EXPENSE                                            418,375                    943,487
                                                                               =======                    =======

BALANCE AT 12/31/99 PER FINANCIAL STATEMENT

Less Equity amount at 12/31/99 as currently
  presented


<PAGE>

ADDITIONAL COMPENSATION                                                      $2,291,463
                                                                             ==========

ADJUSTMENTS WOULD BE AS FOLLOWS:            2000            1999             1998          1998  548,000            -     200,000
                                            -----           -----            -----
                                                                                           1999  350,601      449,375     514,320
Net loss as presented                                       $ (1,746,041)    $ (1,455,100) 2000        -            -     229,167
                                                                                                 ----------  ----------- --------
Adjustments as per above:
  Compensation expense                                           799,976          548,000        898,601      449,375     943,487
                                                                                                 --------  ------------- --------
  Interest expense - (Laguna, Strawberry     229,167              20,833                -
       & Knightrider)
  Interest expense - Tariq & Noreen Khan                         493,487          200,000
                                                     -------------------- ----------------
                                                            $ (3,060,337)    $ (2,203,100)
                                                     -------------------- ----------------
                                                                                        -
                                                               1,314,296          748,000
</TABLE>