<PAGE>

                                                                     EXHIBIT 4.4

THIS SECURED DEBENTURE, AND THE SECURITIES INTO WHICH IT IS CONVERTIBLE
(COLLECTIVELY, THE "SECURITIES"), HAVE NOT BEEN REGISTERED WITH THE UNITED
STATES SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE. THE SECURITIES ARE BEING OFFERED PURSUANT TO A SAFE HARBOR FROM
REGISTRATION UNDER REGULATION D PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"). THE SECURITIES ARE "RESTRICTED" AND MAY NOT BE OFFERED OR
SOLD UNLESS THE SECURITIES ARE REGISTERED UNDER THE ACT, PURSUANT TO REGULATION
D OR PURSUANT TO AVAILABLE EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE
ACT AND THE COMPANY WILL BE PROVIDED WITH OPINION OF COUNSEL OR OTHER SUCH
INFORMATION AS IT MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH EXEMPTIONS ARE
AVAILABLE. FURTHER HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE MADE
EXCEPT IN COMPLIANCE WITH THE ACT.



                                SECURED DEBENTURE


                              OXFORD VENTURES INC.


                        5% SECURED CONVERTIBLE DEBENTURE


                                  MAY 18, 2004


No. 001                                                               US$500,000

         This Secured Debenture (the "DEBENTURE") is issued by Oxford Ventures
Inc., a Nevada corporation (the "COMPANY"), to Cornell Capital Partners, LP
(together with its permitted successors and assigns, the "HOLDER") pursuant to
exemptions from registration under the Securities Act of 1933, as amended.

                                   ARTICLE I.

         SECTION 1.01 PRINCIPAL AND INTEREST. For value received, the Company
hereby promises to pay to the order of the Holder on May 18, 2007 in lawful
money of the United States of America and in immediately available funds the
principal sum of Five Hundred Thousand U.S. Dollars (US$500,000), together with
interest on the unpaid principal of this Debenture at the rate of five percent
(5%) per year (computed on the basis of a 365-day year and the actual days
elapsed) from the date of this Debenture until paid. At the Company's option,
the entire principal amount and all accrued interest shall be either (a) paid to
the Holder on the third (3rd) anniversary from the date hereof or (b) converted
in accordance with Section 1.02 herein provided, however, that in no event shall
the Holder be entitled to convert this Debenture for a number of shares of
Common Stock in excess of that number of shares of Common Stock which, upon
giving effect to such conversion, would cause the aggregate number of shares of
Common Stock beneficially owned by the Holder and its affiliates to exceed 4.99%
of the outstanding shares of the Common Stock following such conversion.

<PAGE>


         SECTION 1.02 OPTIONAL CONVERSION. The Holder is entitled, at its
option, to convert, and sell on the same day, at any time and from time to time,
until payment in full of this Debenture, all or any part of the principal amount
of the Debenture, plus accrued interest, into shares (the "CONVERSION SHARES")
of the Company's common stock, par value US$.001 per share ("COMMON STOCK"), at
the price per share (the "CONVERSION PRICE") equal to the lesser of (a) an
amount equal to one hundred twenty percent (120%) of the volume weighted average
price of the Common Stock as listed on a Principal Market (as defined herein),
as quoted by Bloomberg L.P. (the "VWAP") as of the date hereof, or (b) an amount
equal to eighty percent (80%) of the lowest VWAP of the Company's Common Stock,
as quoted by Bloomberg, LP (the "CLOSING BID PRICE"), for the five (5) trading
days immediately preceding the Conversion Date (as defined herein).
Subparagraphs (a) and (b) above are individually referred to as a "CONVERSION
PRICE". As used herein, "PRINCIPAL MARKET" shall mean The National Association
of Securities Dealers Inc.'s Over-The-Counter Bulletin Board, Nasdaq SmallCap
Market, or American Stock Exchange. If the Common Stock is not traded on a
Principal Market, the Closing Bid Price shall mean, the reported Closing Bid
Price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the applicable periods. No fraction of shares or
scrip representing fractions of shares will be issued on conversion, but the
number of shares issuable shall be rounded to the nearest whole share. To
convert this Debenture, the Holder hereof shall deliver written notice thereof,
substantially in the form of Exhibit "A" to this Debenture, with appropriate
insertions (the "CONVERSION NOTICE"), to the Company at its address as set forth
herein. The date upon which the conversion shall be effective (the "CONVERSION
DATE") shall be deemed to be the date set forth in the Conversion Notice.

         SECTION 1.03 RESERVATION OF COMMON STOCK. The Company shall reserve and
keep available out of its authorized but unissued shares of Common Stock, solely
for the purpose of effecting the conversion of this Debenture, such number of
shares of Common Stock as shall from time to time be sufficient to effect such
conversion, based upon the Conversion Price. If at any time the Company does not
have a sufficient number of Conversion Shares authorized and available, then the
Company shall call and hold a special meeting of its stockholders within sixty
(60) days of that time for the sole purpose of increasing the number of
authorized shares of Common Stock.

         SECTION 1.04 RIGHT OF REDEMPTION. The Company at its option shall have
the right to redeem, with three (3) business days advance written notice (the
"REDEMPTION NOTICE"), a portion or all outstanding convertible debenture. The
redemption price shall be one hundred twenty percent (120%) of the amount
redeemed plus accrued interest.

         In the event the Company exercises a redemption of either all or a
portion the Convertible Debenture, the Holder shall receive a warrant to
purchase fifty thousand (50,000) shares of the Company's Common Stock for every
One Hundred Thousand U.S. Dollars (US$100,000) redeemed, pro rata (the
"WARRANT"). The Warrant shall be exercisable on a "cash basis" and have an
exercise price equal to the Conversion Price set forth in Section 1.02(a) above.
The Warrant shall have "piggy-back" and demand registration rights and shall
survive for two (2) years from the Closing Date.

                                       2
<PAGE>

         SECTION 1.05 REGISTRATION RIGHTS. The Company is obligated to register
the resale of the Conversion Shares under the Securities Act of 1933, as
amended, pursuant to the terms of a Registration Rights Agreement, between the
Company and the Holder of even date herewith (the "INVESTOR REGISTRATION RIGHTS
AGREEMENT").

         SECTION 1.06 INTEREST PAYMENTS. The interest so payable will be paid at
the time of maturity or conversion to the person in whose name this Debenture is
registered. At the time such interest is payable, the Holder, in its sole
discretion, may elect to receive the interest in cash (via wire transfer or
certified funds) or in the form of Common Stock. In the event of default, as
described in Article III Section 3.01 hereunder, the Holder may elect that the
interest be paid in cash (via wire transfer or certified funds) or in the form
of Common Stock. If paid in the form of Common Stock, the amount of stock to be
issued will be calculated as follows: the value of the stock shall be the
Closing Bid Price on: (i) the date the interest payment is due; or (ii) if the
interest payment is not made when due, the date the interest payment is made. A
number of shares of Common Stock with a value equal to the amount of interest
due shall be issued. No fractional shares will be issued; therefore, in the
event that the value of the Common Stock per share does not equal the total
interest due, the Company will pay the balance in cash.

         SECTION 1.07 PAYING AGENT AND REGISTRAR. Initially, the Company will
act as paying agent and registrar. The Company may change any paying agent,
registrar, or Company-registrar by giving the Holder not less than ten (10)
business days' written notice of its election to do so, specifying the name,
address, telephone number and facsimile number of the paying agent or registrar.
The Company may act in any such capacity.

         SECTION 1.08 SECURED NATURE OF DEBENTURE. This Debenture is secured by
all of the assets and property of the Company as set forth on Exhibit A to the
Security Agreement dated the date hereof between the Company and the Holder (the
"SECURITY AGREEMENT"). As set forth in the Security Agreement, Holder's security
interest shall terminate upon the occurrence of an Expiration Event as defined
in the Security Agreement.

                                   ARTICLE II.

         SECTION 2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may not be
amended. Notwithstanding the above, without the consent of the Holder, the
Debenture may be amended to cure any ambiguity, defect or inconsistency, or to
provide for assumption of the Company obligations to the Holder.

                                  ARTICLE III.

         SECTION 3.01 EVENTS OF DEFAULT. An Event of Default is defined as
follows: (a) failure by the Company to pay amounts due hereunder within fifteen
(15) days of the date of maturity of this Debenture; (b) failure by the Company
to comply with the terms of the Irrevocable Transfer Agent Instructions attached
to the Securities Purchase Agreement; (c) failure, at any time after the
Scheduled Effective Deadline (as defined in the Investor Registration Rights
Agreement), by the Company's transfer agent to issue freely tradeable Common


                                       3
<PAGE>

Stock to the Holder within five (5) days of the Company's receipt of the
attached Notice of Conversion from Holder; (provided, however, that this
provision shall not apply if such failure to issue freely tradeable stock is as
a result of the filing of a post-effective amendment to the Registration
Statement) commencing upon the filing of a post-effective amendment to the
Registration Statement and ending upon the date which such post-effective
amendment is declared effective by the SEC, provided however such period shall
not exceed sixty (60) calendar days; if such period exceeds sixty (60) calendar
days and the Company is unable to issue freely tradeable stock it shall be
deemed an event of default hereunder, (d) failure by the Company for ten (10)
days after notice to it to comply with any of its other agreements in the
Debenture; (e) events of bankruptcy or insolvency; (f) a breach by the Company
of its obligations under the Securities Purchase Agreement or the Investor
Registration Rights Agreement which is not cured by the Company within ten (10)
days after receipt of written notice thereof. Upon the occurrence of an Event of
Default, the Holder may, in its sole discretion, accelerate full repayment of
all debentures outstanding and accrued interest thereon or may, notwithstanding
any limitations contained in this Debenture and/or the Securities Purchase
Agreement dated the date hereof between the Company and Cornell Capital
Partners, L.P. (the "SECURITIES PURCHASE AGREEMENT"), convert all debentures
outstanding and accrued interest thereon into shares of Common Stock pursuant to
Section 1.02 herein.

         SECTION 3.02 FAILURE TO ISSUE UNRESTRICTED COMMON STOCK. As indicated
in Article III Section 3.01, a breach by the Company of its obligations under
the Investor Registration Rights Agreement shall be deemed an Event of Default,
which if not cured within ten (10) days, shall entitle the Holder to accelerate
full repayment of all debentures outstanding and accrued interest thereon or,
notwithstanding any limitations contained in this Debenture and/or the
Securities Purchase Agreement, to convert all debentures outstanding and accrued
interest thereon into shares of Common Stock pursuant to Section 1.02 herein.
The Company acknowledges that failure to honor a Notice of Conversion shall
cause irreparable harm to the Holder.

                                   ARTICLE IV.

         SECTION 4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole
or in part, may be converted at any time following the Closing Date, into shares
of Common Stock at a price equal to the Conversion Price as described in Section
1.02 above.

         SECTION 4.02 RE-ISSUANCE OF DEBENTURE. When the Holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

         SECTION 4.03 TERMINATION OF CONVERSION RIGHTS. The Holder's right to
convert the Debenture into the Common Stock in accordance with paragraph 4.01
shall terminate on the date that is the third (3rd) year anniversary from the
date hereof and this Debenture shall be automatically converted on that date in
accordance with the formula set forth in Section 4.01 hereof, and the
appropriate shares of Common Stock and amount of interest shall be issued to the
Holder.

                                       4
<PAGE>

                                   ARTICLE V.

         SECTION 5.01 ANTI-DILUTION. In the event that the Company shall at any
time subdivide the outstanding shares of Common Stock, or shall issue a stock
dividend on the outstanding Common Stock, the Conversion Price in effect
immediately prior to such subdivision or the issuance of such dividend shall be
proportionately decreased, and in the event that the Company shall at any time
combine the outstanding shares of Common Stock, the Conversion Price in effect
immediately prior to such combination shall be proportionately increased,
effective at the close of business on the date of such subdivision, dividend or
combination as the case may be.

         SECTION 5.02 CONSENT OF HOLDER TO SELL CAPITAL STOCK OR GRANT SECURITY
INTERESTS. Except for the Standby Equity Distribution Agreement dated the date
hereof between the Company and Cornell Capital Partners, LP, so long as any of
the principal of or interest on this Debenture remains unpaid and unconverted,
the Company shall not, without the prior consent of the Holder, issue or sell
(i) any Common Stock or Preferred Stock without consideration or for a
consideration per share less than its fair market value determined immediately
prior to its issuance, (ii) issue or sell any Preferred Stock, warrant, option,
right, contract, call, or other security or instrument granting the holder
thereof the right to acquire Common Stock without consideration or for a
consideration per share less than such Common Stock's fair market value
determined immediately prior to its issuance, (iii) enter into any security
instrument granting the holder a security interest in any of the assets of the
Company, or (iv) file any registration statement on Form S- 8 that registers
more than five million (5,000,000) shares of Common Stock. Notwithstanding the
foregoing in the event Company intends to file any registration statement on
Form S-8 that registers five million (5,000,000) or fewer shares of Common Stock
the Company must provide the Buyer(s) fifteen (15) business days prior written
notice.

                                   ARTICLE VI.

         SECTION 6.01 NOTICE. Notices regarding this Debenture shall be sent to
the parties at the following addresses, unless a party notifies the other
parties, in writing, of a change of address:

If to the Company, to:               Oxford Ventures Inc.
                                     4655 East Ivy Street - Suite 101
                                     Mesa, AZ 852105
                                     Attention:   Daniel K. Leonard, President
                                     Telephone:   (480) 924-4123
                                     Facsimile:   (480) 924-7038

With a copy to:                      Sichenzia Ross Friedman Ference LLP
                                     1065 Avenue of the Americas
                                     New York, NY 10018
                                     Attention:   Gregory Sichenzia, Esq.
                                     Telephone:   (212) 930-9700
                                     Facsimile:   (212) 930-9725

                                       5
<PAGE>

If to the Holder:                    Cornell Capital Partners, LP
                                     101 Hudson Street, Suite 3700
                                     Jersey City, NJ 07303
                                     Telephone:   (201) 985-8300
                                     Facsimile:   (201) 985-8266

With a copy to:                      Butler Gonzalez LLP
                                     1416 Morris Avenue, Suite 207
                                     Union, NJ 07083
                                     Attention:   David Gonzalez, Esq.
                                     Telephone:   (908) 810-8588
                                     Facsimile:   (908) 810-0973


         SECTION 6.02 GOVERNING LAW. This Debenture shall be deemed to be made
under and shall be construed in accordance with the laws of the State of Nevada
without giving effect to the principals of conflict of laws thereof. Each of the
parties consents to the jurisdiction of the U.S. District Court sitting in the
District of the State of New Jersey or the state courts of the State of New
Jersey sitting in Hudson County, New Jersey in connection with any dispute
arising under this Debenture and hereby waives, to the maximum extent permitted
by law, any objection, including any objection based on FORUM NON CONVENIENS to
the bringing of any such proceeding in such jurisdictions.

         SECTION 6.03 SEVERABILITY. The invalidity of any of the provisions of
this Debenture shall not invalidate or otherwise affect any of the other
provisions of this Debenture, which shall remain in full force and effect.

         SECTION 6.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents
the entire agreement between the parties hereto with respect to the subject
matter hereof and there are no representations, warranties or commitments,
except as set forth herein. This Debenture may be amended only by an instrument
in writing executed by the parties hereto.

         SECTION 6.05 COUNTERPARTS. This Debenture may be executed in multiple
counterparts, each of which shall be an original, but all of which shall be
deemed to constitute on instrument.


         IN WITNESS WHEREOF, with the intent to be legally bound hereby, the
Company as executed this Debenture as of the date first written above.

                                                   OXFORD VENTURES INC.

                                                   By: /S/ DANIEL K. LEONARD
                                                       -------------------------
                                                   Name:   Daniel K. Leonard
                                                   Title:  President



                                       6
<PAGE>


                                   EXHIBIT "A"
                                   -----------


                              NOTICE OF CONVERSION
                              --------------------


        (TO BE EXECUTED BY THE HOLDER IN ORDER TO CONVERT THE DEBENTURE)



TO:

         The undersigned hereby irrevocably elects to convert US$_____________
of the principal amount of the above Debenture into Shares of Common Stock of
Oxford Ventures Inc., according to the conditions stated therein, as of the
Conversion Date written below.

CONVERSION DATE:                          ______________________________________

APPLICABLE CONVERSION PRICE:              ______________________________________

SIGNATURE:                                ______________________________________

NAME:                                     ______________________________________

ADDRESS:                                  ______________________________________

AMOUNT TO BE CONVERTED:                   US$___________________________________

AMOUNT OF DEBENTURE UNCONVERTED:          US$___________________________________

CONVERSION PRICE PER SHARE:               US$___________________________________

NUMBER OF SHARES OF COMMON STOCK TO BE
ISSUED:                                   ______________________________________

PLEASE ISSUE THE SHARES OF COMMON STOCK
IN THE FOLLOWING NAME AND TO THE
FOLLOWING ADDRESS:                        ______________________________________

ISSUE TO:                                 ______________________________________

AUTHORIZED SIGNATURE:                     ______________________________________

NAME:                                     ______________________________________

TITLE:                                    ______________________________________

PHONE NUMBER:                             ______________________________________

BROKER DTC PARTICIPANT CODE:              ______________________________________

ACCOUNT NUMBER:                           ______________________________________


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