Document:

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EXHIBIT 10.26

                          SECURITIES PURCHASE AGREEMENT

ILINC COMMUNICATIONS, INC.
JAMES M. POWERS, JR., PRESIDENT
2999 NORTH 44TH STREET, SUITE 650
PHOENIX, AZ  85016

The undersigned investor (the "INVESTOR") hereby confirms Investor's agreement
with iLinc Communications, Inc. ("iLinc" or the "Company") as follows:

1. This Securities Purchase Agreement is made as of the date set forth below
between the Company and the Investor.

2. The Company has authorized the sale and issuance of up to 5,400,000 shares
(the "SHARES") of the common stock of the Company, $0.001 par value per share
(the "COMMON STOCK"), to certain investors in a private placement (the
"OFFERING").

3. The Company and the Investor agree that the Investor will purchase from the
Company and the Company will issue and sell to the Investor 2,702,703 Shares at
a purchase price of $0.37 per Share, for an aggregate purchase price of
$1,000,000 (the "PURCHASE PRICE"), subject to the Terms and Conditions for
Purchase of Shares attached hereto as Annex I and incorporated herein by
reference as if fully set forth herein. Unless otherwise requested by the
Investor in Exhibit "A", certificates representing the Shares purchased by the
Investor will be registered in the Investor's name and address as set forth
below.

4. The Investor represents that, except as set forth below, (a) it has had no
position, office or other material relationship within the past three (3) years
with the Company or its affiliates, (b) neither it, nor any group of which it is
a member or to which it is related, beneficially owns (including the right to
acquire or vote) any securities of the Company, and (c) it has no direct or
indirect affiliation or association with any National Association of Securities
Dealers, Inc. ("NASD") member. Exceptions:

None
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            (If no exceptions, write "none." If left blank, response
                         will be deemed to be "none.")

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Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                       DATED AS OF:  June 6, 2006

                                       Herald Investment Management Limited
                                       on behalf of Herald Investment Trust PLC

                                       By: /s/ Fraser Elms
                                           -------------------------------------
                                       Name:  Fraser Elms
                                       Title: Fund Manager
                                              Herald Investment Management Ltd.

                                       Address: 10-11 Charterhouse Square
                                                --------------------------------
                                       London, ECIM 6AX
                                       -----------------------------------------

AGREED AND ACCEPTED:

iLinc Communications, Inc.

By: /s/ James M. Powers, Jr.
    -----------------------------------
       Name: James M. Powers, Jr.
       Title: President

                 [SECURITIES PURCHASE AGREEMENT SIGNATURE PAGE]

Securities Purchase Agreement - Subscription Letter                 Page 2 of 12

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                                     ANNEX I

                   TERMS AND CONDITIONS FOR PURCHASE OF SHARES

         1.   AGREEMENT TO SELL AND PURCHASE THE SHARES; SUBSCRIPTION DATE.

                  1.1 PURCHASE AND SALE. At the Closing (as defined in Section
2), the Company will sell to the Investor, and the Investor will purchase from
the Company, upon the terms and subject to the conditions set forth herein, and
at the Purchase Price, the number of Shares described in paragraph 3 of the
Securities Purchase Agreement attached hereto (collectively with this Annex I
and the other exhibits attached hereto, this "Agreement").

                  1.2 OTHER INVESTORS. As part of the Offering, the Company
proposes to enter into Securities Purchase Agreements in the same form as this
Agreement with certain other investors (the "OTHER INVESTORS"), and the Company
expects to complete sales of Shares to them. The Investor and the Other
Investors are sometimes collectively referred to herein as the "INVESTORS," and
this Agreement, the Registration Rights Agreement and the Securities Purchase
Agreements executed by the Other Investors are sometimes collectively referred
to herein as the "AGREEMENTS." The Company may accept executed Agreements from
Investors for the purchase of Shares commencing upon the date on which the
Company provides the Investors with the proposed purchase price per Share and
concluding upon the date (the "SUBSCRIPTION DATE") on which the Company has
notified Canaccord Adams, Inc. (in its capacity as placement agent for the
Shares, the "PLACEMENT AGENT") in writing that it will no longer accept
Agreements for the purchase of Shares in the Offering, but in no event shall the
Subscription Date be later than JUNE 8, 2006. Each Investor must execute and
deliver a Securities Purchase Agreement and a Registration Rights Agreement and
must complete a Stock Certificate Questionnaire (in the form attached as Exhibit
"A" hereto) and an Investor Questionnaire (in the form attached as Exhibit "B"
hereto) in order to purchase Shares in the Offering.

                  1.3 PLACEMENT AGENT FEE. The Investor acknowledges that the
Company intends to pay to the Placement Agent a fee in respect of the sale of
Shares to the Investor from the proceeds of the Offering.

         2. DELIVERY OF THE SHARES AT CLOSING. The completion of the purchase
and sale of the Shares (the "CLOSING") shall occur on a date specified by the
Company and the Placement Agent that is anticipated to be June 9, 2006 (the
"CLOSING DATE"), but which date shall not be later than June 16, 2006 (the
"OUTSIDE DATE"), and of which the Investors will be notified in writing in
advance by the Placement Agent. At the Closing, the Company shall deliver to the
Investor one or more stock certificates representing the number of Shares set
forth in paragraph 3 of the Stock Purchase Agreement, each such certificate to
be registered in the name of the Investor or, if so indicated on the Stock
Certificate Questionnaire, in the name of a nominee designated by the Investor.
In exchange for the delivery of the subscription agreements, the Investor shall
deliver the Purchase Price to the Placement Agent by wire transfer of
immediately available funds pursuant to written instructions to be held in
escrow pending closing of the Offering. On the Closing Date, the Company shall
cause counsel to the Company to deliver to the Investors a legal opinion, dated
the Closing Date, substantially in the form attached hereto as Exhibit "C" (the
"LEGAL OPINION").

         The Company's obligation to issue and sell the Shares to the Investor
shall be subject to the following conditions, any one or more of which may be
waived by the Company: (a) prior receipt by the Company of an executed copy of
this Securities Purchase Agreement; (b) completion of purchases and sales of
Shares under the Agreements with the Other Investors; (c) the accuracy of the
representations and warranties made by the Investor in this Agreement and the

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fulfillment of the obligations of the Investor to be fulfilled by it under this
Agreement on or prior to the Closing; and (d) the absence of any order, writ,
injunction, judgment or decree that questions the validity of the Agreements or
the right of the Company or the Investor to enter into such Agreements or to
consummate the transactions contemplated hereby and thereby.

         The Investor's obligation to purchase the Shares shall be subject to
the following conditions, any one or more of which may be waived by the
Investor: (a) the completion, execution and return of the completed Securities
Purchase Agreement (with exhibits thereto) by all Investors and the funding into
escrow of no less than one million dollars ($1,000,0000); (b) the delivery of
the Legal Opinion to the Investor by counsel to the Company; (c) the accuracy of
the representations and warranties made by the Company in this Agreement on the
Closing Date; (c) the execution and delivery by the Company of the Registration
Rights Agreement, (d) the absence of any order, writ, injunction, judgment or
decree that questions the validity of the Agreements or the right of the Company
or the Investor to enter into such Agreements or to consummate the transactions
contemplated hereby and thereby; and (e) the delivery to the Investor by the
Secretary or Assistant Secretary of the Company of a certificate stating that
the conditions specified in this paragraph have been fulfilled.

         In the event that the Closing does not occur on or before the Outside
Date as a result of the Company's failure to satisfy any of the conditions set
forth above (and such condition has not been waived by the Investor), the
Company shall return any and all funds paid hereunder to the Investor no later
than one Business Day following the Outside Date and the Investors shall have no
further obligations hereunder. For purposes of this Agreement, "BUSINESS DAY"
shall mean any day other than a Saturday, Sunday or other day on which the New
York Stock Exchange are permitted or required by law to close.

         3. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. Except as
otherwise described in the Company's Annual Report on Form 10-K for the year
ended March 31, 2005 (and any amendments thereto filed at least two (2) Business
Days prior to the Closing Date), Company's most recent Quarterly Report on Form
10-Q for the quarter ended December 31, 2005 (and any amendments thereto filed
at least two (2) Business Days prior to the Closing Date), the Company's Proxy
Statement for its 2005 Annual Meeting of Shareholders, and any of the Company's
Current Reports on Form 8-K filed since December 31, 2005 (and any amendments
thereto filed at least two (2) Business Days prior to the Closing Date) (all
collectively, the "SEC REPORTS"), the Company hereby represents and warrants to,
and covenants with, the Investor as of the date hereof and the Closing Date, as
follows:

                  3.1 ORGANIZATION. The Company is duly incorporated and validly
existing in good standing under the laws of the State of Delaware. The Company
has full power and authority to own, operate and occupy its properties and to
conduct its business as presently conducted and is registered or qualified to do
business and in good standing in each jurisdiction in which it owns property or
transacts business and where the failure to be so qualified would have a
material adverse effect upon the Company and its subsidiaries as a whole or the
business, financial condition, properties, operations or assets of the Company
and its subsidiaries as a whole or the Company's ability to perform its
obligations under the Agreements in all material respects ("MATERIAL ADVERSE
EFFECT"), and no proceeding has been instituted in any such jurisdiction
revoking, limiting or curtailing, or seeking to revoke, limit or curtail, such
power and authority or qualification.

                  3.2 DUE AUTHORIZATION. The Company has all requisite power and
authority to execute, deliver and perform its obligations under the Agreements.
The execution and delivery of the Agreements, and the consummation by the
Company of the transactions contemplated hereby, have been duly authorized by
all necessary corporate action and no further action on the part of the Company
or its Board of Directors or stockholders is required. The Agreements have been
validly executed and delivered by the Company and constitute legal, valid and

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binding agreements of the Company enforceable against the Company in accordance
with their terms, except to the extent (i) rights to indemnity and contribution
may be limited by state or federal securities laws or the public policy
underlying such laws, (ii) such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors' and contracting parties' rights generally and (iii) such
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                  3.3 NO CONFLICT OR DEFAULT. The execution and delivery of the
Agreements, the issuance and sale of the Shares to be sold by the Company under
the Agreements, the fulfillment of the terms of the Agreements and the
consummation of the transactions contemplated thereby will not: (A) result in a
conflict with or constitute a material violation of, or material default (with
the passage of time or otherwise) under, (i) any bond, debenture, note, loan
agreement or other evidence of indebtedness, or any material lease, or contract
to which the Company is a party or by which the Company or their respective
properties are bound, (ii) the Certificate of Incorporation, by-laws or other
organizational documents of the Company, as amended, or (iii) any law,
administrative regulation, or existing order of any court or governmental
agency, or other authority binding upon the Company or the Company's respective
properties; or, (B) result in the creation or imposition of any lien,
encumbrance, claim, or security interest upon any of the material assets of the
Company or an acceleration of indebtedness pursuant to any obligation, agreement
or condition contained in any material bond, debenture, note or any other
evidence of indebtedness or any material indenture, mortgage, deed of trust or
any other agreement or instrument to which the Company is a party or by which it
is bound or to which any of the property or assets of the Company is subject. No
consent, approval, authorization or other order of, or registration,
qualification or filing with, any regulatory body, administrative agency, or
other governmental body is required for the execution and delivery of the
Agreements by the Company and the valid issuance or sale of the Shares by the
Company pursuant to the Agreements, other than such as have been made or
obtained, and except for any filings required to be made under federal or state
securities laws.

                  3.4 CAPITALIZATION. The outstanding capital stock of the
Company is as described in the Company's Quarterly Report on Form 10-Q for the
three month period ending December 31, 2005 and the private placement memorandum
dated May 31, 2006 (the "Memorandum") provided to Investor. The Company has not
issued any capital stock since December 31, 2005, other than pursuant to the
purchase of shares under the Company's employee stock option plan and the
exercise of outstanding warrants or stock options, in each case as disclosed in
the Memorandum or the SEC Reports. The Shares to be sold pursuant to the
Agreements have been duly authorized, and when issued and paid for in accordance
with the terms of the Agreements, will be duly and validly issued, fully paid
and nonassessable, subject to no lien, claim or encumbrance (except for any such
lien, claim or encumbrance created, directly or indirectly, by the Investor).
The outstanding shares of capital stock of the Company have been duly and
validly issued and are fully paid and nonassessable, have been issued in
compliance with the registration requirements of federal and state securities
laws, and were not issued in violation of any preemptive rights or similar
rights to subscribe for or purchase securities. The Company owns one hundred
percent of all of the outstanding capital stock of each of its subsidiaries,
free and clear of all liens, claims and encumbrances. There are not (i) any
outstanding preemptive rights, or (ii) any rights, warrants or options to
acquire, or instruments convertible into or exchangeable for, any unissued
shares of capital stock or other equity interest in the Company not disclosed in
the SEC Reports or Memorandum, or (iii) any contract, commitment, agreement,
understanding or arrangement of any kind to which the Company is a party that
would provide for the issuance or sale of any capital stock of the Company, any
such convertible or exchangeable securities or any such rights, warrants or
options not disclosed in the SEC Reports or the Memorandum. There are no
shareholders agreements, voting agreements or other similar agreements with
respect to the Common Stock to which the Company is a party.

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                  3.5 LEGAL PROCEEDINGS. There is no material legal or
governmental proceeding pending, or to the knowledge of the Company, threatened,
to which the Company is a party or of which the business or property of the
Company is subject that is required to be disclosed and that is not so disclosed
in the SEC Reports. Other than the information disclosed in the SEC Reports, the
Company is not subject to any injunction, judgment, decree or order of any
court, regulatory body, administrative agency or other government body.

                  3.6 NO VIOLATIONS. The Company is not in violation of its
Certificate of Incorporation, bylaws or other organizational documents, as
amended. The Company is not in violation of any law, administrative regulation,
ordinance or order of any court or governmental agency, arbitration panel or
authority applicable to the Company, which violation, individually or in the
aggregate, is reasonably likely to have a Material Adverse Effect. The Company
is not in default (and there exists no condition which, with the passage of time
or otherwise, would constitute a default) in the performance of any bond,
debenture, note or any other evidence of indebtedness or any indenture,
mortgage, deed of trust or any other material agreement or instrument to which
the Company is a party or by which the Company is bound, which such default
would have a Material Adverse Effect upon the Company.

                  3.7 GOVERNMENTAL PERMITS, ETC. Each of the Company has all
necessary franchises, licenses, certificates and other authorizations from any
foreign, federal, state or local government or governmental agency, department
or body that are currently necessary for the operation of the business of the
Company as currently conducted, except where the failure to currently possess
such franchises, licenses, certificates and other authorizations is not
reasonably likely to have a Material Adverse Effect.

                  3.8 INTELLECTUAL PROPERTY.

                           (a) Except for matters which are not reasonably
likely to have a Material Adverse Effect, (i) each of the Company has ownership
of, or a license or other legal right to use, all patents, copyrights, trade
secrets, trademarks, customer lists, designs, manufacturing or other processes,
computer software, systems, data compilation, research results or other
proprietary rights used in the business of the Company (collectively,
"INTELLECTUAL PROPERTY") and (ii) all of the Intellectual Property owned by the
Company consisting of patents, registered trademarks and registered copyrights
have been duly registered in, filed in or issued by the United States Patent and
Trademark Office, the United States Register of Copyrights or the corresponding
offices of other jurisdictions and have been maintained and renewed in
accordance with all applicable provisions of law and administrative regulations
in the United States and/or such other jurisdictions.

                           (b) Except for matters which are not reasonably
likely to have a Material Adverse Effect, all material licenses or other
material agreements under which (i) the Company employs rights in Intellectual
Property, or (ii) the Company has granted rights to others in Intellectual
Property owned or licensed by the Company are in full force and effect, and
there is no default by the Company with respect thereto.

                           (c) The Company believes that it has taken all steps
reasonably required in accordance with sound business practice and business
judgment to establish and preserve the ownership of the Company's material
Intellectual Property.

                           (d) Except for matters which are not reasonably
likely to have a Material Adverse Effect, to the knowledge of the Company, (i)
the present business, activities and products of the Company do not infringe any
intellectual property of any other person; (ii) neither the Company is making
unauthorized use of any confidential information or trade secrets of any person;

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and (iii) the activities of any of the employees of the Company, acting on
behalf of the Company, do not materially violate any agreements or arrangements
related to confidential information or trade secrets of third parties.

                           (e) Except for matters which are not reasonably
likely to have a Material Adverse Effect, and except as disclosed in the SEC
Reports, no proceedings are pending, or to the knowledge of the Company,
threatened, which challenge the rights of the Company to the use the Company's
Intellectual Property.

                  3.9 FINANCIAL STATEMENTS. The financial statements of the
Company and the related notes contained in the SEC Reports present fairly and
accurately in all material respects the financial position of the Company as of
the dates therein indicated, and the results of its operations, cash flows and
the changes in shareholders' equity for the periods therein specified, subject,
in the case of unaudited financial statements for interim periods, to normal
year-end audit adjustments. Such financial statements (including the related
notes) have been prepared in accordance with generally accepted accounting
principles applied on a consistent basis at the times and throughout the periods
therein specified, except that unaudited financial statements may not contain
all footnotes required by generally accepted accounting principles.

                  3.10 NO MATERIAL ADVERSE CHANGE. Except as disclosed in the
SEC Reports or in any press releases issued by the Company prior to the Closing
Date, there has not been (i) an event, circumstance or change that has had or is
reasonably likely to have a Material Adverse Effect upon the Company, (ii) any
obligation incurred by the Company that is material to the Company, (iii) any
dividend or distribution of any kind declared, paid or made on the capital stock
of the Company, or (iv) any loss or damage (whether or not insured) to the
physical property of the Company which has had a Material Adverse Effect.

                  3.11 AMEX COMPLIANCE. The Company's Common Stock is registered
pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended
(the "EXCHANGE ACT"), and is listed on the American Stock Exchange (the "AMEX"),
and the Company has taken no action intended to, or which to its knowledge could
have the effect of, terminating the registration of the Common Stock under the
Exchange Act or delisting the Common Stock from the Amex. The issuance of the
Shares does not require shareholder approval, including, without limitation,
pursuant to Section 713 of the Amex Company Guide.

                  3.12 REPORTING STATUS. The Company has timely made all filings
required under the Exchange Act during the twelve (12) months preceding the date
of this Agreement, and all of those documents complied in all material respects
with the SEC's requirements as of their respective filing dates, and the
information contained therein as of the respective dates thereof did not contain
an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein in light of the
circumstances under which they were made not misleading. The Company is
currently eligible to register the resale of Common Stock by the Investors
pursuant to a registration statement on Form S-3 under the Securities Act (the
"REGISTRATION STATEMENT").

                  3.13 NO MANIPULATION; DISCLOSURE OF INFORMATION. The Company
has not taken and will not take any action designed to or that might reasonably
be expected to cause or result in an unlawful manipulation of the price of the
Common Stock to facilitate the sale or resale of the Shares. The Company has not
disclosed any material non-public information to the Investors.

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                  3.14 ACCOUNTANTS. Epstein Weber & Conover, PLC, who expressed
their opinion with respect to the consolidated financial statements to be
incorporated by reference from the Company's Annual Report on Form 10-K for the
year ended March 31, 2005 into the Registration Statement and the prospectus
which forms a part thereof (the "PROSPECTUS"), have advised the Company that
they are, and to the knowledge of the Company they are, independent accountants
as required by the Securities Act and the rules and regulations promulgated
thereunder.

                  3.15 CONTRACTS. Except for matters which are not reasonably
likely to have a Material Adverse Effect and those contracts that are
substantially or fully performed or expired by their terms, the contracts listed
as exhibits to or described in the SEC Reports that are material to the Company
and all amendments thereto, are in full force and effect on the date hereof, and
neither the Company nor, to the Company's knowledge, any other party to such
contracts is in breach of or default under any of such contracts.

                  3.16 TAXES. Except for tax matters which are not reasonably
likely to have a Material Adverse Effect, each of the Company and each of its
Subsidiaries has filed all necessary federal, state and foreign income and
franchise tax returns and has paid or accrued all taxes shown as due thereon.

                  3.17 TRANSFER TAXES. On the Closing Date, all stock transfer
or other taxes (other than income taxes) which are required to be paid in
connection with the sale and transfer of the Shares hereunder will be, or will
have been, fully paid or provided for by the Company and the Company will have
complied with all laws imposing such taxes.

                  3.18 INVESTMENT COMPANY. The Company is not an "investment
company" or an "affiliated person" of, or "promoter" or "principal underwriter"
for an investment company, within the meaning of the Investment Company Act of
1940, as amended, and will not be deemed an "investment company" as a result of
the transactions contemplated by this Agreement.

                  3.19 INSURANCE. The Company maintains insurance of the types
and in the amounts that the Company reasonably believes is adequate for its
businesses, including, but not limited to, insurance covering real and personal
property owned or leased by the Company against theft, damage, destruction, acts
of vandalism and all other risks customarily insured against by similarly
situated companies, all of which insurance is in full force and effect.

                  3.20 OFFERING PROHIBITIONS. Neither the Company nor any person
acting on its behalf or at its direction has in the past or will in the future
take any action to sell, offer for sale or solicit offers to buy any securities
of the Company which would bring the offer or sale of the Shares as contemplated
by this Agreement within the provisions of Section 5 of the Securities Act.

                  3.21 LISTING. The Company shall comply with all requirements
with respect to the issuance of the Shares and the listing thereof on Amex.

                  3.22 RELATED PARTY TRANSACTIONS. Other than described in the
SEC Reports, to the knowledge of the Company, no transaction has occurred
between or among the Company or any of its affiliates, officers or directors or
any affiliate or affiliates of any such officer or director that with the
passage of time are reasonably likely be required to be disclosed pursuant to
Section 13, 14 or 15(d) of the Exchange Act.

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                  3.23 BOOKS AND RECORDS. The books, records and accounts of the
Company accurately and fairly reflect, in reasonable detail, the transactions
in, and dispositions of, the assets of, and the operations of, the Company. The
Company maintains a system of internal accounting controls sufficient to provide
reasonable assurances that (i) transactions are executed in accordance with
management's general or specific authorizations, (ii) transactions are recorded
as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles and to maintain asset accountability,
(iii) access to assets is permitted only in accordance with management's general
or specific authorization and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.

                  3.24 ADDITIONAL CONTINGENT CONSIDERATION. The Company expects
that with the funding of the Offering and the additional capital provided
thereby, that the Company's auditor will not express doubt about the company's
ability to continue as a going concern (i.e. provided a so-called "Clean
Opinion"). However, should the auditor again express such doubt and not provide
a Clean Opinion despite the additional capital as a part of the annual report
for the fiscal year ending March 31, 2006 on Form 10-K, then the Company will
issue to Investors additional cash consideration ("Additional Consideration")
equal to five percent (5.000%) of the gross proceeds. By way of example, should
the Company raise $2,000,000, and the Company's auditor not provide a Clean
Opinion, then iLinc will owe to Investors $100,000, with such Additional
Consideration, if due, paid to within fifteen (15) days of the filing of the
Company's Form 10-K in which the opinion expressing doubt is included. Provided
however, that should the auditor issue an opinion that is a Clean Opinion then
the obligation to provide Contingent Consideration under this Section 3.24 shall
forever expire without further obligation to Investors.

         4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR.

                  4.1 INVESTOR KNOWLEDGE AND STATUS. The Investor represents and
warrants to, and covenants with, the Company that: (i) the Investor is an
"accredited investor" as defined in Regulation D under the Securities Act, is
knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in securities presenting an investment
decision similar to that involved in the purchase of the Shares, and has
requested, received, reviewed and considered all information it deemed relevant
in making an informed decision to purchase the Shares; (ii) the Investor
understands that the Shares are "restricted securities" and have not been
registered under the Securities Act and is acquiring the number of Shares set
forth in paragraph 3 of the Securities Purchase Agreement in the ordinary course
of its business and for its own account for investment only, has no present
intention of distributing any of such Shares and has no arrangement or
understanding with any other persons regarding the distribution of such Shares
(this representation and warranty not limiting the Investor's right to sell
Shares pursuant to a Registration Statement filed under the Registration Rights
Agreement or otherwise, or other than with respect to any claim arising out of a
breach of this representation and warranty, the Investor's right to
indemnification under Section 3 of the Registration Rights Agreement); (iii) the
Investor will not, directly or indirectly, offer, sell, pledge, transfer or
otherwise dispose of (or solicit any offers to buy, purchase or otherwise
acquire or take a pledge of) any of the Shares except in compliance with the
Securities Act, applicable state securities laws and the respective rules and
regulations promulgated thereunder; (iv) the Investor has answered all questions
in paragraph 4 of the Securities Purchase Agreement and the Investor
Questionnaire attached hereto as Exhibit B for use in preparation of the
Registration Statement and the answers thereto are true and correct as of the
date hereof and will be true and correct as of the Closing Date; (v) the
Investor will notify the Company promptly of any change in any of such
information until such time as the Investor has sold all of its Shares or until
the Company is no longer required to keep the Registration Statement effective;
and (vi) the Investor has, in connection with its decision to purchase the
number of Shares set forth in paragraph 3 of the Securities Purchase Agreement,
relied upon the representations and warranties of the Company contained herein

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and the information contained in the SEC Reports. The Investor understands that
the issuance of the Shares to the Investor has not been registered under the
Securities Act, or registered or qualified under any state securities law, in
reliance on specific exemptions therefrom, which exemptions may depend upon,
among other things, the representations made by the Investor in this Agreement.
No person (including without limitation the Placement Agent) is authorized by
the Company to provide any representation that is inconsistent with or in
addition to those contained herein or in the SEC Reports, and the Investor
acknowledges that it has not received or relied on any such representations.

                  4.2 TRANSFER OF SHARES. The Investor agrees that it will not
make any sale, transfer or other disposition of the Shares (a "DISPOSITION")
other than Dispositions that are made pursuant to the Registration Statement in
compliance with any applicable prospectus delivery requirements or that are
exempt from registration under the Securities Act. Investor has not taken and
will not take any action designed to or that might reasonably be expected to
cause or result in manipulation of the price of the Common Stock to facilitate
the subscription to, or the sale or resale of the Shares. The Company has not
disclosed any material non-public information to the Investors.

                  4.3 POWER AND AUTHORITY. The Investor represents and warrants
to the Company that (i) the Investor has full right, power, authority and
capacity to enter into this Agreement and to consummate the transactions
contemplated hereby and has taken all necessary action to authorize the
execution, delivery and performance of this Agreement, and (ii) this Agreement
constitutes a valid and binding obligation of the Investor enforceable against
the Investor in accordance with its terms, except to the extent (i) rights to
indemnity and contribution may be limited by state or federal securities laws or
the public policy underlying such laws, (ii) such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors' and contracting parties' rights generally and (iii) such
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                  4.4 NO SHORT POSITION. The Investor has not prior to the
Closing Date, and will not for the one (1) year period beginning with the
Closing Date, established any hedge or other position in the Common Stock that
is issued and outstanding, and that is designed to or could reasonably be
expected to lead to or result in a sale, transfer or other disposition by the
Investor or any other person or entity under the control or direction of
Investor. For purposes hereof, a "hedge or other position" would include,
without limitation, effecting any short sale or having in effect any short
position (whether or not such sale or position is against the box and regardless
of when such position was entered into) or any purchase, sale or grant of any
right (including, without limitation, any put or call option) with respect to
the Common Stock or with respect to any security (other than a broad-based
market basket or index) that includes, relates to or derives any significant
part of its value from the Common Stock.

                  4.5 NO INVESTMENT, TAX OR LEGAL ADVICE. The Investor
understands that nothing in the SEC Reports, this Agreement, or any other
materials presented to the Investor in connection with the purchase and sale of
the Shares constitutes legal, tax or investment advice. The Investor has
consulted such legal, tax and investment advisors as it, in its sole discretion,
has deemed necessary or appropriate in connection with its purchase of Shares.

                  4.6 ACKNOWLEDGMENTS REGARDING PLACEMENT AGENT. The Investor
acknowledges that the Placement Agent has acted solely as placement agent for
the Company in connection with the Offering of the Shares by the Company, and
that the Placement Agent has made no representation or warranty whatsoever with
respect to the accuracy or completeness of information, data or other related
disclosure material that has been provided to the Investor. The Investor further
acknowledges that in making its decision to enter into this Agreement and
purchase the Shares, it has relied on its own examination of the Company and the
terms of, and consequences of holding, the Shares. The Investor further

Securities Purchase Agreement                                      Page 10 of 12

<PAGE>

acknowledges that the provisions of this Section 4.7 are for the benefit of, and
may be enforced by, the Placement Agent. Investor has not received any general
solicitation or advertising regarding the Offering and Investor has not been
furnished with any oral or written representation or information in connection
with the Offering which is not contained in the SEC Reports or set forth in the
Memorandum.

                  4.7 ADDITIONAL ACKNOWLEDGEMENT. Investor has thoroughly
reviewed and the SEC Reports and the Memorandum (the "Disclosure Documents")
prior to making this investment. Investor has been granted a reasonable time
prior to the date hereof during which we have had the opportunity to obtain such
additional information as Investor deems necessary to permit Investor to make an
informed decision with respect to the purchase of the Common Stock. After
examination of the SEC Reports and other information available, Investor is
fully aware of the business prospects, financial condition, risks associated
with investment and the operating history relating to the Company, and therefore
in subscribing for the purchase of the Shares, Investor is not relying upon any
information other than information contained in the Disclosure Documents. The
Investor acknowledges that it has independently evaluated the merits of the
transactions contemplated by this Agreement, that it has independently
determined to enter into the transactions contemplated hereby, that it is not
relying on any advice from or evaluation by any Other Investor, and that it is
not acting in concert with any Other Investor in making its purchase of the
Shares hereunder. The Investor and, to its knowledge, the Company acknowledge
that the Investors have not taken any actions that would deem the Investors to
be members of a "group" for purposes of Section 13(d) of the Exchange Act.

         5. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND AGREEMENTS.
Notwithstanding any investigation made by any party to this Agreement or by the
Placement Agent, all covenants, agreements, representations and warranties made
by the Company and the Investor herein shall survive the execution of this
Agreement, the delivery to the Investor of the Shares being purchased and the
payment therefor, and a party's reliance on such representations and warranties
shall not be affected by any investigation made by such party or any information
developed thereby.

         6.   REGISTRATION OF SHARES; PUBLIC STATEMENTS.

                  6.1 In connection with the purchase and sale of the Shares by
the Investors contemplated hereby, the Company has entered into a Registration
Rights Agreement with each Investor providing for the filing by the Company of a
Registration Statement on Form S-3 to enable the resale of the Shares by the
Investors from time to time.

                  6.2 The Company agrees to disclose on a Current Report on Form
8-K the existence of the Offering and the material terms, thereof, including
pricing, within four (4) days after the Closing. The Company will not issue any
public statement, press release or any other public disclosure listing the
Investor as one of the purchasers of the Shares without the Investor's prior
review of the statement and prior consent thereto, except as may be required by
applicable law or rules of any exchange on which the Company's securities are
listed.

         7. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to

Securities Purchase Agreement                                      Page 11 of 12

<PAGE>

such carrier, (iv) if delivered by facsimile, upon electric confirmation of
receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                           (a)      if to the Company, to:

                                    iLinc Communications, Inc.
                                    2999 North 44th Street, Suite 650
                                    Phoenix, AZ  85016
                                    Attention:  James L. Dunn, Jr.
                                    Telephone:  602-952-1200
                                    Fax: 602-952-1200

                                    with a copy to:
                                    Jackson Walker, LLP
                                    901 Main Street, Suite 6000
                                    Dallas, TX  75202
                                    Attention:  James Ryan III
                                    Telephone:  (516) 433-1200
                                    Fax:  (214) 661-6688

                           (b) if to the Investor, at its address on the
signature page to the Stock Purchase Agreement.

         8. AMENDMENTS; WAIVER. This Agreement may not be modified or amended
except pursuant to an instrument in writing signed by the Company and the
Investor. Any waiver of a provision of this Agreement must be in writing and
executed by the party against whom enforcement of such waiver is sought.

         9. HEADINGS. The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

         10. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the
entire agreement and understanding of the parties relating to the subject matter
hereof and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

         11. GOVERNING LAW. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law.

         12. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

Securities Purchase Agreement                                      Page 12 of 12

<PAGE>

                          SECURITIES PURCHASE AGREEMENT

ILINC COMMUNICATIONS, INC.
JAMES M. POWERS, JR., PRESIDENT
2999 NORTH 44TH STREET, SUITE 650
PHOENIX, AZ  85016

The undersigned investor (the "INVESTOR") hereby confirms Investor's agreement
with iLinc Communications, Inc. ("iLinc" or the "Company") as follows:

1. This Securities Purchase Agreement is made as of the date set forth below
between the Company and the Investor.

2. The Company has authorized the sale and issuance of up to 5,400,000 shares
(the "SHARES") of the common stock of the Company, $0.001 par value per share
(the "COMMON STOCK"), to certain investors in a private placement (the
"OFFERING").

3. The Company and the Investor agree that the Investor will purchase from the
Company and the Company will issue and sell to the Investor 1,621,621 Shares at
a purchase price of $0.37 per Share, for an aggregate purchase price of $600,000
(the "PURCHASE PRICE"), subject to the Terms and Conditions for Purchase of
Shares attached hereto as Annex I and incorporated herein by reference as if
fully set forth herein. Unless otherwise requested by the Investor in Exhibit
"A", certificates representing the Shares purchased by the Investor will be
registered in the Investor's name and address as set forth below.

4. The Investor represents that, except as set forth below, (a) it has had no
position, office or other material relationship within the past three (3) years
with the Company or its affiliates, (b) neither it, nor any group of which it is
a member or to which it is related, beneficially owns (including the right to
acquire or vote) any securities of the Company, and (c) it has no direct or
indirect affiliation or association with any National Association of Securities
Dealers, Inc. ("NASD") member. Exceptions:

None
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
            (If no exceptions, write "none." If left blank, response
                         will be deemed to be "none.")

Securities Purchase Agreement                                       Page 1 of 12

<PAGE>

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                 DATED AS OF:  June 8, 2006

                                 Sophrosyne Technology Fund Ltd.
                                 -----------------------------------------------

                                 By: /s/ Benjamin James Taylor
                                     -------------------------------------------
                                 Name:   Benjamin James Taylor
                                 Title:  Director

                                 Address: Ogier Fiduciary Services (Cayman) Ltd.
                                          --------------------------------------
                                 Queensgate House, South Church St.
                                 -----------------------------------------
                                 P.O. Box 1234 GT, Grand Cayman
                                 -----------------------------------------

AGREED AND ACCEPTED:

iLinc Communications, Inc.

By: /s/ James M. Powers, Jr.
    -----------------------------------
       Name: James M. Powers, Jr.
       Title: President

                 [SECURITIES PURCHASE AGREEMENT SIGNATURE PAGE]

Securities Purchase Agreement - Subscription Letter                 Page 2 of 12

<PAGE>

                                     ANNEX I

                   TERMS AND CONDITIONS FOR PURCHASE OF SHARES

         1.   AGREEMENT TO SELL AND PURCHASE THE SHARES; SUBSCRIPTION DATE.

                  1.1 PURCHASE AND SALE. At the Closing (as defined in Section
2), the Company will sell to the Investor, and the Investor will purchase from
the Company, upon the terms and subject to the conditions set forth herein, and
at the Purchase Price, the number of Shares described in paragraph 3 of the
Securities Purchase Agreement attached hereto (collectively with this Annex I
and the other exhibits attached hereto, this "Agreement").

                  1.2 OTHER INVESTORS. As part of the Offering, the Company
proposes to enter into Securities Purchase Agreements in the same form as this
Agreement with certain other investors (the "OTHER INVESTORS"), and the Company
expects to complete sales of Shares to them. The Investor and the Other
Investors are sometimes collectively referred to herein as the "INVESTORS," and
this Agreement, the Registration Rights Agreement and the Securities Purchase
Agreements executed by the Other Investors are sometimes collectively referred
to herein as the "AGREEMENTS." The Company may accept executed Agreements from
Investors for the purchase of Shares commencing upon the date on which the
Company provides the Investors with the proposed purchase price per Share and
concluding upon the date (the "SUBSCRIPTION DATE") on which the Company has
notified Canaccord Adams, Inc. (in its capacity as placement agent for the
Shares, the "PLACEMENT AGENT") in writing that it will no longer accept
Agreements for the purchase of Shares in the Offering, but in no event shall the
Subscription Date be later than JUNE 8, 2006. Each Investor must execute and
deliver a Securities Purchase Agreement and a Registration Rights Agreement and
must complete a Stock Certificate Questionnaire (in the form attached as Exhibit
"A" hereto) and an Investor Questionnaire (in the form attached as Exhibit "B"
hereto) in order to purchase Shares in the Offering.

                  1.3 PLACEMENT AGENT FEE. The Investor acknowledges that the
Company intends to pay to the Placement Agent a fee in respect of the sale of
Shares to the Investor from the proceeds of the Offering.

         2. DELIVERY OF THE SHARES AT CLOSING. The completion of the purchase
and sale of the Shares (the "CLOSING") shall occur on a date specified by the
Company and the Placement Agent that is anticipated to be June 9, 2006 (the
"CLOSING DATE"), but which date shall not be later than June 16, 2006 (the
"OUTSIDE DATE"), and of which the Investors will be notified in writing in
advance by the Placement Agent. At the Closing, the Company shall deliver to the
Investor one or more stock certificates representing the number of Shares set
forth in paragraph 3 of the Stock Purchase Agreement, each such certificate to
be registered in the name of the Investor or, if so indicated on the Stock
Certificate Questionnaire, in the name of a nominee designated by the Investor.
In exchange for the delivery of the subscription agreements, the Investor shall
deliver the Purchase Price to the Placement Agent by wire transfer of
immediately available funds pursuant to written instructions to be held in
escrow pending closing of the Offering. On the Closing Date, the Company shall
cause counsel to the Company to deliver to the Investors a legal opinion, dated
the Closing Date, substantially in the form attached hereto as Exhibit "C" (the
"LEGAL OPINION").

         The Company's obligation to issue and sell the Shares to the Investor
shall be subject to the following conditions, any one or more of which may be
waived by the Company: (a) prior receipt by the Company of an executed copy of
this Securities Purchase Agreement; (b) completion of purchases and sales of
Shares under the Agreements with the Other Investors; (c) the accuracy of the
representations and warranties made by the Investor in this Agreement and the

Securities Purchase Agreement                                       Page 3 of 12

<PAGE>

fulfillment of the obligations of the Investor to be fulfilled by it under this
Agreement on or prior to the Closing; and (d) the absence of any order, writ,
injunction, judgment or decree that questions the validity of the Agreements or
the right of the Company or the Investor to enter into such Agreements or to
consummate the transactions contemplated hereby and thereby.

         The Investor's obligation to purchase the Shares shall be subject to
the following conditions, any one or more of which may be waived by the
Investor: (a) the completion, execution and return of the completed Securities
Purchase Agreement (with exhibits thereto) by all Investors and the funding into
escrow of no less than one million dollars ($1,000,0000); (b) the delivery of
the Legal Opinion to the Investor by counsel to the Company; (c) the accuracy of
the representations and warranties made by the Company in this Agreement on the
Closing Date; (c) the execution and delivery by the Company of the Registration
Rights Agreement, (d) the absence of any order, writ, injunction, judgment or
decree that questions the validity of the Agreements or the right of the Company
or the Investor to enter into such Agreements or to consummate the transactions
contemplated hereby and thereby; and (e) the delivery to the Investor by the
Secretary or Assistant Secretary of the Company of a certificate stating that
the conditions specified in this paragraph have been fulfilled.

         In the event that the Closing does not occur on or before the Outside
Date as a result of the Company's failure to satisfy any of the conditions set
forth above (and such condition has not been waived by the Investor), the
Company shall return any and all funds paid hereunder to the Investor no later
than one Business Day following the Outside Date and the Investors shall have no
further obligations hereunder. For purposes of this Agreement, "BUSINESS DAY"
shall mean any day other than a Saturday, Sunday or other day on which the New
York Stock Exchange are permitted or required by law to close.

         3. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. Except as
otherwise described in the Company's Annual Report on Form 10-K for the year
ended March 31, 2005 (and any amendments thereto filed at least two (2) Business
Days prior to the Closing Date), Company's most recent Quarterly Report on Form
10-Q for the quarter ended December 31, 2005 (and any amendments thereto filed
at least two (2) Business Days prior to the Closing Date), the Company's Proxy
Statement for its 2005 Annual Meeting of Shareholders, and any of the Company's
Current Reports on Form 8-K filed since December 31, 2005 (and any amendments
thereto filed at least two (2) Business Days prior to the Closing Date) (all
collectively, the "SEC REPORTS"), the Company hereby represents and warrants to,
and covenants with, the Investor as of the date hereof and the Closing Date, as
follows:

                  3.1 ORGANIZATION. The Company is duly incorporated and validly
existing in good standing under the laws of the State of Delaware. The Company
has full power and authority to own, operate and occupy its properties and to
conduct its business as presently conducted and is registered or qualified to do
business and in good standing in each jurisdiction in which it owns property or
transacts business and where the failure to be so qualified would have a
material adverse effect upon the Company and its subsidiaries as a whole or the
business, financial condition, properties, operations or assets of the Company
and its subsidiaries as a whole or the Company's ability to perform its
obligations under the Agreements in all material respects ("MATERIAL ADVERSE
EFFECT"), and no proceeding has been instituted in any such jurisdiction
revoking, limiting or curtailing, or seeking to revoke, limit or curtail, such
power and authority or qualification.

                  3.2 DUE AUTHORIZATION. The Company has all requisite power and
authority to execute, deliver and perform its obligations under the Agreements.
The execution and delivery of the Agreements, and the consummation by the
Company of the transactions contemplated hereby, have been duly authorized by
all necessary corporate action and no further action on the part of the Company
or its Board of Directors or stockholders is required. The Agreements have been
validly executed and delivered by the Company and constitute legal, valid and

Securities Purchase Agreement                                       Page 4 of 12

<PAGE>

binding agreements of the Company enforceable against the Company in accordance
with their terms, except to the extent (i) rights to indemnity and contribution
may be limited by state or federal securities laws or the public policy
underlying such laws, (ii) such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors' and contracting parties' rights generally and (iii) such
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                  3.3 NO CONFLICT OR DEFAULT. The execution and delivery of the
Agreements, the issuance and sale of the Shares to be sold by the Company under
the Agreements, the fulfillment of the terms of the Agreements and the
consummation of the transactions contemplated thereby will not: (A) result in a
conflict with or constitute a material violation of, or material default (with
the passage of time or otherwise) under, (i) any bond, debenture, note, loan
agreement or other evidence of indebtedness, or any material lease, or contract
to which the Company is a party or by which the Company or their respective
properties are bound, (ii) the Certificate of Incorporation, by-laws or other
organizational documents of the Company, as amended, or (iii) any law,
administrative regulation, or existing order of any court or governmental
agency, or other authority binding upon the Company or the Company's respective
properties; or, (B) result in the creation or imposition of any lien,
encumbrance, claim, or security interest upon any of the material assets of the
Company or an acceleration of indebtedness pursuant to any obligation, agreement
or condition contained in any material bond, debenture, note or any other
evidence of indebtedness or any material indenture, mortgage, deed of trust or
any other agreement or instrument to which the Company is a party or by which it
is bound or to which any of the property or assets of the Company is subject. No
consent, approval, authorization or other order of, or registration,
qualification or filing with, any regulatory body, administrative agency, or
other governmental body is required for the execution and delivery of the
Agreements by the Company and the valid issuance or sale of the Shares by the
Company pursuant to the Agreements, other than such as have been made or
obtained, and except for any filings required to be made under federal or state
securities laws.

                  3.4 CAPITALIZATION. The outstanding capital stock of the
Company is as described in the Company's Quarterly Report on Form 10-Q for the
three month period ending December 31, 2005 and the private placement memorandum
dated May 31, 2006 (the "Memorandum") provided to Investor. The Company has not
issued any capital stock since December 31, 2005, other than pursuant to the
purchase of shares under the Company's employee stock option plan and the
exercise of outstanding warrants or stock options, in each case as disclosed in
the Memorandum or the SEC Reports. The Shares to be sold pursuant to the
Agreements have been duly authorized, and when issued and paid for in accordance
with the terms of the Agreements, will be duly and validly issued, fully paid
and nonassessable, subject to no lien, claim or encumbrance (except for any such
lien, claim or encumbrance created, directly or indirectly, by the Investor).
The outstanding shares of capital stock of the Company have been duly and
validly issued and are fully paid and nonassessable, have been issued in
compliance with the registration requirements of federal and state securities
laws, and were not issued in violation of any preemptive rights or similar
rights to subscribe for or purchase securities. The Company owns one hundred
percent of all of the outstanding capital stock of each of its subsidiaries,
free and clear of all liens, claims and encumbrances. There are not (i) any
outstanding preemptive rights, or (ii) any rights, warrants or options to
acquire, or instruments convertible into or exchangeable for, any unissued
shares of capital stock or other equity interest in the Company not disclosed in
the SEC Reports or Memorandum, or (iii) any contract, commitment, agreement,
understanding or arrangement of any kind to which the Company is a party that
would provide for the issuance or sale of any capital stock of the Company, any
such convertible or exchangeable securities or any such rights, warrants or
options not disclosed in the SEC Reports or the Memorandum. There are no
shareholders agreements, voting agreements or other similar agreements with
respect to the Common Stock to which the Company is a party.

Securities Purchase Agreement                                       Page 5 of 12

<PAGE>

                  3.5 LEGAL PROCEEDINGS. There is no material legal or
governmental proceeding pending, or to the knowledge of the Company, threatened,
to which the Company is a party or of which the business or property of the
Company is subject that is required to be disclosed and that is not so disclosed
in the SEC Reports. Other than the information disclosed in the SEC Reports, the
Company is not subject to any injunction, judgment, decree or order of any
court, regulatory body, administrative agency or other government body.

                  3.6 NO VIOLATIONS. The Company is not in violation of its
Certificate of Incorporation, bylaws or other organizational documents, as
amended. The Company is not in violation of any law, administrative regulation,
ordinance or order of any court or governmental agency, arbitration panel or
authority applicable to the Company, which violation, individually or in the
aggregate, is reasonably likely to have a Material Adverse Effect. The Company
is not in default (and there exists no condition which, with the passage of time
or otherwise, would constitute a default) in the performance of any bond,
debenture, note or any other evidence of indebtedness or any indenture,
mortgage, deed of trust or any other material agreement or instrument to which
the Company is a party or by which the Company is bound, which such default
would have a Material Adverse Effect upon the Company.

                  3.7 GOVERNMENTAL PERMITS, ETC. Each of the Company has all
necessary franchises, licenses, certificates and other authorizations from any
foreign, federal, state or local government or governmental agency, department
or body that are currently necessary for the operation of the business of the
Company as currently conducted, except where the failure to currently possess
such franchises, licenses, certificates and other authorizations is not
reasonably likely to have a Material Adverse Effect.

                  3.8 INTELLECTUAL PROPERTY.

                           (a) Except for matters which are not reasonably
likely to have a Material Adverse Effect, (i) each of the Company has ownership
of, or a license or other legal right to use, all patents, copyrights, trade
secrets, trademarks, customer lists, designs, manufacturing or other processes,
computer software, systems, data compilation, research results or other
proprietary rights used in the business of the Company (collectively,
"INTELLECTUAL PROPERTY") and (ii) all of the Intellectual Property owned by the
Company consisting of patents, registered trademarks and registered copyrights
have been duly registered in, filed in or issued by the United States Patent and
Trademark Office, the United States Register of Copyrights or the corresponding
offices of other jurisdictions and have been maintained and renewed in
accordance with all applicable provisions of law and administrative regulations
in the United States and/or such other jurisdictions.

                           (b) Except for matters which are not reasonably
likely to have a Material Adverse Effect, all material licenses or other
material agreements under which (i) the Company employs rights in Intellectual
Property, or (ii) the Company has granted rights to others in Intellectual
Property owned or licensed by the Company are in full force and effect, and
there is no default by the Company with respect thereto.

                           (c) The Company believes that it has taken all steps
reasonably required in accordance with sound business practice and business
judgment to establish and preserve the ownership of the Company's material
Intellectual Property.

                           (d) Except for matters which are not reasonably
likely to have a Material Adverse Effect, to the knowledge of the Company, (i)
the present business, activities and products of the Company do not infringe any
intellectual property of any other person; (ii) neither the Company is making
unauthorized use of any confidential information or trade secrets of any person;

Securities Purchase Agreement                                       Page 6 of 12

<PAGE>

and (iii) the activities of any of the employees of the Company, acting on
behalf of the Company, do not materially violate any agreements or arrangements
related to confidential information or trade secrets of third parties.

                           (e) Except for matters which are not reasonably
likely to have a Material Adverse Effect, and except as disclosed in the SEC
Reports, no proceedings are pending, or to the knowledge of the Company,
threatened, which challenge the rights of the Company to the use the Company's
Intellectual Property.

                  3.9 FINANCIAL STATEMENTS. The financial statements of the
Company and the related notes contained in the SEC Reports present fairly and
accurately in all material respects the financial position of the Company as of
the dates therein indicated, and the results of its operations, cash flows and
the changes in shareholders' equity for the periods therein specified, subject,
in the case of unaudited financial statements for interim periods, to normal
year-end audit adjustments. Such financial statements (including the related
notes) have been prepared in accordance with generally accepted accounting
principles applied on a consistent basis at the times and throughout the periods
therein specified, except that unaudited financial statements may not contain
all footnotes required by generally accepted accounting principles.

                  3.10 NO MATERIAL ADVERSE CHANGE. Except as disclosed in the
SEC Reports or in any press releases issued by the Company prior to the Closing
Date, there has not been (i) an event, circumstance or change that has had or is
reasonably likely to have a Material Adverse Effect upon the Company, (ii) any
obligation incurred by the Company that is material to the Company, (iii) any
dividend or distribution of any kind declared, paid or made on the capital stock
of the Company, or (iv) any loss or damage (whether or not insured) to the
physical property of the Company which has had a Material Adverse Effect.

                  3.11 AMEX COMPLIANCE. The Company's Common Stock is registered
pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended
(the "EXCHANGE ACT"), and is listed on the American Stock Exchange (the "AMEX"),
and the Company has taken no action intended to, or which to its knowledge could
have the effect of, terminating the registration of the Common Stock under the
Exchange Act or delisting the Common Stock from the Amex. The issuance of the
Shares does not require shareholder approval, including, without limitation,
pursuant to Section 713 of the Amex Company Guide.

                  3.12 REPORTING STATUS. The Company has timely made all filings
required under the Exchange Act during the twelve (12) months preceding the date
of this Agreement, and all of those documents complied in all material respects
with the SEC's requirements as of their respective filing dates, and the
information contained therein as of the respective dates thereof did not contain
an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein in light of the
circumstances under which they were made not misleading. The Company is
currently eligible to register the resale of Common Stock by the Investors
pursuant to a registration statement on Form S-3 under the Securities Act (the
"REGISTRATION STATEMENT").

                  3.13 NO MANIPULATION; DISCLOSURE OF INFORMATION. The Company
has not taken and will not take any action designed to or that might reasonably
be expected to cause or result in an unlawful manipulation of the price of the
Common Stock to facilitate the sale or resale of the Shares. The Company has not
disclosed any material non-public information to the Investors.

Securities Purchase Agreement                                       Page 7 of 12

<PAGE>

                  3.14 ACCOUNTANTS. Epstein Weber & Conover, PLC, who expressed
their opinion with respect to the consolidated financial statements to be
incorporated by reference from the Company's Annual Report on Form 10-K for the
year ended March 31, 2005 into the Registration Statement and the prospectus
which forms a part thereof (the "PROSPECTUS"), have advised the Company that
they are, and to the knowledge of the Company they are, independent accountants
as required by the Securities Act and the rules and regulations promulgated
thereunder.

                  3.15 CONTRACTS. Except for matters which are not reasonably
likely to have a Material Adverse Effect and those contracts that are
substantially or fully performed or expired by their terms, the contracts listed
as exhibits to or described in the SEC Reports that are material to the Company
and all amendments thereto, are in full force and effect on the date hereof, and
neither the Company nor, to the Company's knowledge, any other party to such
contracts is in breach of or default under any of such contracts.

                  3.16 TAXES. Except for tax matters which are not reasonably
likely to have a Material Adverse Effect, each of the Company and each of its
Subsidiaries has filed all necessary federal, state and foreign income and
franchise tax returns and has paid or accrued all taxes shown as due thereon.

                  3.17 TRANSFER TAXES. On the Closing Date, all stock transfer
or other taxes (other than income taxes) which are required to be paid in
connection with the sale and transfer of the Shares hereunder will be, or will
have been, fully paid or provided for by the Company and the Company will have
complied with all laws imposing such taxes.

                  3.18 INVESTMENT COMPANY. The Company is not an "investment
company" or an "affiliated person" of, or "promoter" or "principal underwriter"
for an investment company, within the meaning of the Investment Company Act of
1940, as amended, and will not be deemed an "investment company" as a result of
the transactions contemplated by this Agreement.

                  3.19 INSURANCE. The Company maintains insurance of the types
and in the amounts that the Company reasonably believes is adequate for its
businesses, including, but not limited to, insurance covering real and personal
property owned or leased by the Company against theft, damage, destruction, acts
of vandalism and all other risks customarily insured against by similarly
situated companies, all of which insurance is in full force and effect.

                  3.20 OFFERING PROHIBITIONS. Neither the Company nor any person
acting on its behalf or at its direction has in the past or will in the future
take any action to sell, offer for sale or solicit offers to buy any securities
of the Company which would bring the offer or sale of the Shares as contemplated
by this Agreement within the provisions of Section 5 of the Securities Act.

                  3.21 LISTING. The Company shall comply with all requirements
with respect to the issuance of the Shares and the listing thereof on Amex.

                  3.22 RELATED PARTY TRANSACTIONS. Other than described in the
SEC Reports, to the knowledge of the Company, no transaction has occurred
between or among the Company or any of its affiliates, officers or directors or
any affiliate or affiliates of any such officer or director that with the
passage of time are reasonably likely be required to be disclosed pursuant to
Section 13, 14 or 15(d) of the Exchange Act.

Securities Purchase Agreement                                       Page 8 of 12

<PAGE>

                  3.23 BOOKS AND RECORDS. The books, records and accounts of the
Company accurately and fairly reflect, in reasonable detail, the transactions
in, and dispositions of, the assets of, and the operations of, the Company. The
Company maintains a system of internal accounting controls sufficient to provide
reasonable assurances that (i) transactions are executed in accordance with
management's general or specific authorizations, (ii) transactions are recorded
as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles and to maintain asset accountability,
(iii) access to assets is permitted only in accordance with management's general
or specific authorization and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.

                  3.24 ADDITIONAL CONTINGENT CONSIDERATION. The Company expects
that with the funding of the Offering and the additional capital provided
thereby, that the Company's auditor will not express doubt about the company's
ability to continue as a going concern (i.e. provided a so-called "Clean
Opinion"). However, should the auditor again express such doubt and not provide
a Clean Opinion despite the additional capital as a part of the annual report
for the fiscal year ending March 31, 2006 on Form 10-K, then the Company will
issue to Investors additional cash consideration ("Additional Consideration")
equal to five percent (5.000%) of the gross proceeds. By way of example, should
the Company raise $2,000,000, and the Company's auditor not provide a Clean
Opinion, then iLinc will owe to Investors $100,000, with such Additional
Consideration, if due, paid to within fifteen (15) days of the filing of the
Company's Form 10-K in which the opinion expressing doubt is included. Provided
however, that should the auditor issue an opinion that is a Clean Opinion then
the obligation to provide Contingent Consideration under this Section 3.24 shall
forever expire without further obligation to Investors.

         4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR.

                  4.1 INVESTOR KNOWLEDGE AND STATUS. The Investor represents and
warrants to, and covenants with, the Company that: (i) the Investor is an
"accredited investor" as defined in Regulation D under the Securities Act, is
knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in securities presenting an investment
decision similar to that involved in the purchase of the Shares, and has
requested, received, reviewed and considered all information it deemed relevant
in making an informed decision to purchase the Shares; (ii) the Investor
understands that the Shares are "restricted securities" and have not been
registered under the Securities Act and is acquiring the number of Shares set
forth in paragraph 3 of the Securities Purchase Agreement in the ordinary course
of its business and for its own account for investment only, has no present
intention of distributing any of such Shares and has no arrangement or
understanding with any other persons regarding the distribution of such Shares
(this representation and warranty not limiting the Investor's right to sell
Shares pursuant to a Registration Statement filed under the Registration Rights
Agreement or otherwise, or other than with respect to any claim arising out of a
breach of this representation and warranty, the Investor's right to
indemnification under Section 3 of the Registration Rights Agreement); (iii) the
Investor will not, directly or indirectly, offer, sell, pledge, transfer or
otherwise dispose of (or solicit any offers to buy, purchase or otherwise
acquire or take a pledge of) any of the Shares except in compliance with the
Securities Act, applicable state securities laws and the respective rules and
regulations promulgated thereunder; (iv) the Investor has answered all questions
in paragraph 4 of the Securities Purchase Agreement and the Investor
Questionnaire attached hereto as Exhibit B for use in preparation of the
Registration Statement and the answers thereto are true and correct as of the
date hereof and will be true and correct as of the Closing Date; (v) the
Investor will notify the Company promptly of any change in any of such
information until such time as the Investor has sold all of its Shares or until
the Company is no longer required to keep the Registration Statement effective;
and (vi) the Investor has, in connection with its decision to purchase the
number of Shares set forth in paragraph 3 of the Securities Purchase Agreement,
relied upon the representations and warranties of the Company contained herein

Securities Purchase Agreement                                       Page 9 of 12

<PAGE>

and the information contained in the SEC Reports. The Investor understands that
the issuance of the Shares to the Investor has not been registered under the
Securities Act, or registered or qualified under any state securities law, in
reliance on specific exemptions therefrom, which exemptions may depend upon,
among other things, the representations made by the Investor in this Agreement.
No person (including without limitation the Placement Agent) is authorized by
the Company to provide any representation that is inconsistent with or in
addition to those contained herein or in the SEC Reports, and the Investor
acknowledges that it has not received or relied on any such representations.

                  4.2 TRANSFER OF SHARES. The Investor agrees that it will not
make any sale, transfer or other disposition of the Shares (a "DISPOSITION")
other than Dispositions that are made pursuant to the Registration Statement in
compliance with any applicable prospectus delivery requirements or that are
exempt from registration under the Securities Act. Investor has not taken and
will not take any action designed to or that might reasonably be expected to
cause or result in manipulation of the price of the Common Stock to facilitate
the subscription to, or the sale or resale of the Shares. The Company has not
disclosed any material non-public information to the Investors.

                  4.3 POWER AND AUTHORITY. The Investor represents and warrants
to the Company that (i) the Investor has full right, power, authority and
capacity to enter into this Agreement and to consummate the transactions
contemplated hereby and has taken all necessary action to authorize the
execution, delivery and performance of this Agreement, and (ii) this Agreement
constitutes a valid and binding obligation of the Investor enforceable against
the Investor in accordance with its terms, except to the extent (i) rights to
indemnity and contribution may be limited by state or federal securities laws or
the public policy underlying such laws, (ii) such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors' and contracting parties' rights generally and (iii) such
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                  4.4 NO SHORT POSITION. The Investor has not prior to the
Closing Date, and will not for the one (1) year period beginning with the
Closing Date, established any hedge or other position in the Common Stock that
is issued and outstanding, and that is designed to or could reasonably be
expected to lead to or result in a sale, transfer or other disposition by the
Investor or any other person or entity under the control or direction of
Investor. For purposes hereof, a "hedge or other position" would include,
without limitation, effecting any short sale or having in effect any short
position (whether or not such sale or position is against the box and regardless
of when such position was entered into) or any purchase, sale or grant of any
right (including, without limitation, any put or call option) with respect to
the Common Stock or with respect to any security (other than a broad-based
market basket or index) that includes, relates to or derives any significant
part of its value from the Common Stock.

                  4.5 NO INVESTMENT, TAX OR LEGAL ADVICE. The Investor
understands that nothing in the SEC Reports, this Agreement, or any other
materials presented to the Investor in connection with the purchase and sale of
the Shares constitutes legal, tax or investment advice. The Investor has
consulted such legal, tax and investment advisors as it, in its sole discretion,
has deemed necessary or appropriate in connection with its purchase of Shares.

                  4.6 ACKNOWLEDGMENTS REGARDING PLACEMENT AGENT. The Investor
acknowledges that the Placement Agent has acted solely as placement agent for
the Company in connection with the Offering of the Shares by the Company, and
that the Placement Agent has made no representation or warranty whatsoever with
respect to the accuracy or completeness of information, data or other related
disclosure material that has been provided to the Investor. The Investor further
acknowledges that in making its decision to enter into this Agreement and
purchase the Shares, it has relied on its own examination of the Company and the
terms of, and consequences of holding, the Shares. The Investor further

Securities Purchase Agreement                                      Page 10 of 12

<PAGE>

acknowledges that the provisions of this Section 4.7 are for the benefit of, and
may be enforced by, the Placement Agent. Investor has not received any general
solicitation or advertising regarding the Offering and Investor has not been
furnished with any oral or written representation or information in connection
with the Offering which is not contained in the SEC Reports or set forth in the
Memorandum.

                  4.7 ADDITIONAL ACKNOWLEDGEMENT. Investor has thoroughly
reviewed and the SEC Reports and the Memorandum (the "Disclosure Documents")
prior to making this investment. Investor has been granted a reasonable time
prior to the date hereof during which we have had the opportunity to obtain such
additional information as Investor deems necessary to permit Investor to make an
informed decision with respect to the purchase of the Common Stock. After
examination of the SEC Reports and other information available, Investor is
fully aware of the business prospects, financial condition, risks associated
with investment and the operating history relating to the Company, and therefore
in subscribing for the purchase of the Shares, Investor is not relying upon any
information other than information contained in the Disclosure Documents. The
Investor acknowledges that it has independently evaluated the merits of the
transactions contemplated by this Agreement, that it has independently
determined to enter into the transactions contemplated hereby, that it is not
relying on any advice from or evaluation by any Other Investor, and that it is
not acting in concert with any Other Investor in making its purchase of the
Shares hereunder. The Investor and, to its knowledge, the Company acknowledge
that the Investors have not taken any actions that would deem the Investors to
be members of a "group" for purposes of Section 13(d) of the Exchange Act.

         5. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND AGREEMENTS.
Notwithstanding any investigation made by any party to this Agreement or by the
Placement Agent, all covenants, agreements, representations and warranties made
by the Company and the Investor herein shall survive the execution of this
Agreement, the delivery to the Investor of the Shares being purchased and the
payment therefor, and a party's reliance on such representations and warranties
shall not be affected by any investigation made by such party or any information
developed thereby.

         6.   REGISTRATION OF SHARES; PUBLIC STATEMENTS.

                  6.1 In connection with the purchase and sale of the Shares by
the Investors contemplated hereby, the Company has entered into a Registration
Rights Agreement with each Investor providing for the filing by the Company of a
Registration Statement on Form S-3 to enable the resale of the Shares by the
Investors from time to time.

                  6.2 The Company agrees to disclose on a Current Report on Form
8-K the existence of the Offering and the material terms, thereof, including
pricing, within four (4) days after the Closing. The Company will not issue any
public statement, press release or any other public disclosure listing the
Investor as one of the purchasers of the Shares without the Investor's prior
review of the statement and prior consent thereto, except as may be required by
applicable law or rules of any exchange on which the Company's securities are
listed.

         7. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to

Securities Purchase Agreement                                      Page 11 of 12

<PAGE>

such carrier, (iv) if delivered by facsimile, upon electric confirmation of
receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                           (a)      if to the Company, to:

                                    iLinc Communications, Inc.
                                    2999 North 44th Street, Suite 650
                                    Phoenix, AZ  85016
                                    Attention:  James L. Dunn, Jr.
                                    Telephone:  602-952-1200
                                    Fax: 602-952-1200

                                    with a copy to:
                                    Jackson Walker, LLP
                                    901 Main Street, Suite 6000
                                    Dallas, TX  75202
                                    Attention:  James Ryan III
                                    Telephone:  (516) 433-1200
                                    Fax:  (214) 661-6688

                           (b) if to the Investor, at its address on the
signature page to the Stock Purchase Agreement.

         8. AMENDMENTS; WAIVER. This Agreement may not be modified or amended
except pursuant to an instrument in writing signed by the Company and the
Investor. Any waiver of a provision of this Agreement must be in writing and
executed by the party against whom enforcement of such waiver is sought.

         9. HEADINGS. The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

         10. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the
entire agreement and understanding of the parties relating to the subject matter
hereof and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

         11. GOVERNING LAW. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law.

         12. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

Securities Purchase Agreement                                      Page 12 of 12

<PAGE>

                          SECURITIES PURCHASE AGREEMENT

ILINC COMMUNICATIONS, INC.
JAMES M. POWERS, JR., PRESIDENT
2999 NORTH 44TH STREET, SUITE 650
PHOENIX, AZ  85016

The undersigned investor (the "INVESTOR") hereby confirms Investor's agreement
with iLinc Communications, Inc. ("iLinc" or the "Company") as follows:

1. This Securities Purchase Agreement is made as of the date set forth below
between the Company and the Investor.

2. The Company has authorized the sale and issuance of up to 5,400,000 shares
(the "SHARES") of the common stock of the Company, $0.001 par value per share
(the "COMMON STOCK"), to certain investors in a private placement (the
"OFFERING").

3. The Company and the Investor agree that the Investor will purchase from the
Company and the Company will issue and sell to the Investor 1,081,081 Shares at
a purchase price of $0.37 per Share, for an aggregate purchase price of $400,000
(the "PURCHASE PRICE"), subject to the Terms and Conditions for Purchase of
Shares attached hereto as Annex I and incorporated herein by reference as if
fully set forth herein. Unless otherwise requested by the Investor in Exhibit
"A", certificates representing the Shares purchased by the Investor will be
registered in the Investor's name and address as set forth below.

4. The Investor represents that, except as set forth below, (a) it has had no
position, office or other material relationship within the past three (3) years
with the Company or its affiliates, (b) neither it, nor any group of which it is
a member or to which it is related, beneficially owns (including the right to
acquire or vote) any securities of the Company, and (c) it has no direct or
indirect affiliation or association with any National Association of Securities
Dealers, Inc. ("NASD") member. Exceptions:

None
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
            (If no exceptions, write "none." If left blank, response
                         will be deemed to be "none.")

Securities Purchase Agreement                                       Page 1 of 12

<PAGE>

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                   DATED AS OF:  June 8, 2006

                                   Benjamin James Taylor and Diane Wong Shoda
                                   ---------------------------------------------

                                   By: /s/ Benjamin James Taylor
                                       -----------------------------------------
                                   Name:   Benjamin James Taylor, individually

                                   By: /s/ Diane Wong Shoda
                                       -----------------------------------------
                                   Name:   Diane Wong Shoda, individually

                                   Address: 54 E. Allendale Avenue
                                            ------------------------------------
                                   Allendale, NJ 07401
                                   ---------------------------------------------

AGREED AND ACCEPTED:

iLinc Communications, Inc.

By: /s/ James M. Powers, Jr.
    -----------------------------------
       Name: James M. Powers, Jr.
       Title: President

                 [SECURITIES PURCHASE AGREEMENT SIGNATURE PAGE]

Securities Purchase Agreement - Subscription Letter                 Page 2 of 12

<PAGE>

                                     ANNEX I

                   TERMS AND CONDITIONS FOR PURCHASE OF SHARES

         1.   AGREEMENT TO SELL AND PURCHASE THE SHARES; SUBSCRIPTION DATE.

                  1.1 PURCHASE AND SALE. At the Closing (as defined in Section
2), the Company will sell to the Investor, and the Investor will purchase from
the Company, upon the terms and subject to the conditions set forth herein, and
at the Purchase Price, the number of Shares described in paragraph 3 of the
Securities Purchase Agreement attached hereto (collectively with this Annex I
and the other exhibits attached hereto, this "Agreement").

                  1.2 OTHER INVESTORS. As part of the Offering, the Company
proposes to enter into Securities Purchase Agreements in the same form as this
Agreement with certain other investors (the "OTHER INVESTORS"), and the Company
expects to complete sales of Shares to them. The Investor and the Other
Investors are sometimes collectively referred to herein as the "INVESTORS," and
this Agreement, the Registration Rights Agreement and the Securities Purchase
Agreements executed by the Other Investors are sometimes collectively referred
to herein as the "AGREEMENTS." The Company may accept executed Agreements from
Investors for the purchase of Shares commencing upon the date on which the
Company provides the Investors with the proposed purchase price per Share and
concluding upon the date (the "SUBSCRIPTION DATE") on which the Company has
notified Canaccord Adams, Inc. (in its capacity as placement agent for the
Shares, the "PLACEMENT AGENT") in writing that it will no longer accept
Agreements for the purchase of Shares in the Offering, but in no event shall the
Subscription Date be later than JUNE 8, 2006. Each Investor must execute and
deliver a Securities Purchase Agreement and a Registration Rights Agreement and
must complete a Stock Certificate Questionnaire (in the form attached as Exhibit
"A" hereto) and an Investor Questionnaire (in the form attached as Exhibit "B"
hereto) in order to purchase Shares in the Offering.

                  1.3 PLACEMENT AGENT FEE. The Investor acknowledges that the
Company intends to pay to the Placement Agent a fee in respect of the sale of
Shares to the Investor from the proceeds of the Offering.

         2. DELIVERY OF THE SHARES AT CLOSING. The completion of the purchase
and sale of the Shares (the "CLOSING") shall occur on a date specified by the
Company and the Placement Agent that is anticipated to be June 9, 2006 (the
"CLOSING DATE"), but which date shall not be later than June 16, 2006 (the
"OUTSIDE DATE"), and of which the Investors will be notified in writing in
advance by the Placement Agent. At the Closing, the Company shall deliver to the
Investor one or more stock certificates representing the number of Shares set
forth in paragraph 3 of the Stock Purchase Agreement, each such certificate to
be registered in the name of the Investor or, if so indicated on the Stock
Certificate Questionnaire, in the name of a nominee designated by the Investor.
In exchange for the delivery of the subscription agreements, the Investor shall
deliver the Purchase Price to the Placement Agent by wire transfer of
immediately available funds pursuant to written instructions to be held in
escrow pending closing of the Offering. On the Closing Date, the Company shall
cause counsel to the Company to deliver to the Investors a legal opinion, dated
the Closing Date, substantially in the form attached hereto as Exhibit "C" (the
"LEGAL OPINION").

         The Company's obligation to issue and sell the Shares to the Investor
shall be subject to the following conditions, any one or more of which may be
waived by the Company: (a) prior receipt by the Company of an executed copy of
this Securities Purchase Agreement; (b) completion of purchases and sales of
Shares under the Agreements with the Other Investors; (c) the accuracy of the
representations and warranties made by the Investor in this Agreement and the

Securities Purchase Agreement                                       Page 3 of 12

<PAGE>

fulfillment of the obligations of the Investor to be fulfilled by it under this
Agreement on or prior to the Closing; and (d) the absence of any order, writ,
injunction, judgment or decree that questions the validity of the Agreements or
the right of the Company or the Investor to enter into such Agreements or to
consummate the transactions contemplated hereby and thereby.

         The Investor's obligation to purchase the Shares shall be subject to
the following conditions, any one or more of which may be waived by the
Investor: (a) the completion, execution and return of the completed Securities
Purchase Agreement (with exhibits thereto) by all Investors and the funding into
escrow of no less than one million dollars ($1,000,0000); (b) the delivery of
the Legal Opinion to the Investor by counsel to the Company; (c) the accuracy of
the representations and warranties made by the Company in this Agreement on the
Closing Date; (c) the execution and delivery by the Company of the Registration
Rights Agreement, (d) the absence of any order, writ, injunction, judgment or
decree that questions the validity of the Agreements or the right of the Company
or the Investor to enter into such Agreements or to consummate the transactions
contemplated hereby and thereby; and (e) the delivery to the Investor by the
Secretary or Assistant Secretary of the Company of a certificate stating that
the conditions specified in this paragraph have been fulfilled.

         In the event that the Closing does not occur on or before the Outside
Date as a result of the Company's failure to satisfy any of the conditions set
forth above (and such condition has not been waived by the Investor), the
Company shall return any and all funds paid hereunder to the Investor no later
than one Business Day following the Outside Date and the Investors shall have no
further obligations hereunder. For purposes of this Agreement, "BUSINESS DAY"
shall mean any day other than a Saturday, Sunday or other day on which the New
York Stock Exchange are permitted or required by law to close.

         3. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. Except as
otherwise described in the Company's Annual Report on Form 10-K for the year
ended March 31, 2005 (and any amendments thereto filed at least two (2) Business
Days prior to the Closing Date), Company's most recent Quarterly Report on Form
10-Q for the quarter ended December 31, 2005 (and any amendments thereto filed
at least two (2) Business Days prior to the Closing Date), the Company's Proxy
Statement for its 2005 Annual Meeting of Shareholders, and any of the Company's
Current Reports on Form 8-K filed since December 31, 2005 (and any amendments
thereto filed at least two (2) Business Days prior to the Closing Date) (all
collectively, the "SEC REPORTS"), the Company hereby represents and warrants to,
and covenants with, the Investor as of the date hereof and the Closing Date, as
follows:

                  3.1 ORGANIZATION. The Company is duly incorporated and validly
existing in good standing under the laws of the State of Delaware. The Company
has full power and authority to own, operate and occupy its properties and to
conduct its business as presently conducted and is registered or qualified to do
business and in good standing in each jurisdiction in which it owns property or
transacts business and where the failure to be so qualified would have a
material adverse effect upon the Company and its subsidiaries as a whole or the
business, financial condition, properties, operations or assets of the Company
and its subsidiaries as a whole or the Company's ability to perform its
obligations under the Agreements in all material respects ("MATERIAL ADVERSE
EFFECT"), and no proceeding has been instituted in any such jurisdiction
revoking, limiting or curtailing, or seeking to revoke, limit or curtail, such
power and authority or qualification.

                  3.2 DUE AUTHORIZATION. The Company has all requisite power and
authority to execute, deliver and perform its obligations under the Agreements.
The execution and delivery of the Agreements, and the consummation by the
Company of the transactions contemplated hereby, have been duly authorized by
all necessary corporate action and no further action on the part of the Company
or its Board of Directors or stockholders is required. The Agreements have been
validly executed and delivered by the Company and constitute legal, valid and

Securities Purchase Agreement                                       Page 4 of 12

<PAGE>

binding agreements of the Company enforceable against the Company in accordance
with their terms, except to the extent (i) rights to indemnity and contribution
may be limited by state or federal securities laws or the public policy
underlying such laws, (ii) such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors' and contracting parties' rights generally and (iii) such
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                  3.3 NO CONFLICT OR DEFAULT. The execution and delivery of the
Agreements, the issuance and sale of the Shares to be sold by the Company under
the Agreements, the fulfillment of the terms of the Agreements and the
consummation of the transactions contemplated thereby will not: (A) result in a
conflict with or constitute a material violation of, or material default (with
the passage of time or otherwise) under, (i) any bond, debenture, note, loan
agreement or other evidence of indebtedness, or any material lease, or contract
to which the Company is a party or by which the Company or their respective
properties are bound, (ii) the Certificate of Incorporation, by-laws or other
organizational documents of the Company, as amended, or (iii) any law,
administrative regulation, or existing order of any court or governmental
agency, or other authority binding upon the Company or the Company's respective
properties; or, (B) result in the creation or imposition of any lien,
encumbrance, claim, or security interest upon any of the material assets of the
Company or an acceleration of indebtedness pursuant to any obligation, agreement
or condition contained in any material bond, debenture, note or any other
evidence of indebtedness or any material indenture, mortgage, deed of trust or
any other agreement or instrument to which the Company is a party or by which it
is bound or to which any of the property or assets of the Company is subject. No
consent, approval, authorization or other order of, or registration,
qualification or filing with, any regulatory body, administrative agency, or
other governmental body is required for the execution and delivery of the
Agreements by the Company and the valid issuance or sale of the Shares by the
Company pursuant to the Agreements, other than such as have been made or
obtained, and except for any filings required to be made under federal or state
securities laws.

                  3.4 CAPITALIZATION. The outstanding capital stock of the
Company is as described in the Company's Quarterly Report on Form 10-Q for the
three month period ending December 31, 2005 and the private placement memorandum
dated May 31, 2006 (the "Memorandum") provided to Investor. The Company has not
issued any capital stock since December 31, 2005, other than pursuant to the
purchase of shares under the Company's employee stock option plan and the
exercise of outstanding warrants or stock options, in each case as disclosed in
the Memorandum or the SEC Reports. The Shares to be sold pursuant to the
Agreements have been duly authorized, and when issued and paid for in accordance
with the terms of the Agreements, will be duly and validly issued, fully paid
and nonassessable, subject to no lien, claim or encumbrance (except for any such
lien, claim or encumbrance created, directly or indirectly, by the Investor).
The outstanding shares of capital stock of the Company have been duly and
validly issued and are fully paid and nonassessable, have been issued in
compliance with the registration requirements of federal and state securities
laws, and were not issued in violation of any preemptive rights or similar
rights to subscribe for or purchase securities. The Company owns one hundred
percent of all of the outstanding capital stock of each of its subsidiaries,
free and clear of all liens, claims and encumbrances. There are not (i) any
outstanding preemptive rights, or (ii) any rights, warrants or options to
acquire, or instruments convertible into or exchangeable for, any unissued
shares of capital stock or other equity interest in the Company not disclosed in
the SEC Reports or Memorandum, or (iii) any contract, commitment, agreement,
understanding or arrangement of any kind to which the Company is a party that
would provide for the issuance or sale of any capital stock of the Company, any
such convertible or exchangeable securities or any such rights, warrants or
options not disclosed in the SEC Reports or the Memorandum. There are no
shareholders agreements, voting agreements or other similar agreements with
respect to the Common Stock to which the Company is a party.

Securities Purchase Agreement                                       Page 5 of 12

<PAGE>

                  3.5 LEGAL PROCEEDINGS. There is no material legal or
governmental proceeding pending, or to the knowledge of the Company, threatened,
to which the Company is a party or of which the business or property of the
Company is subject that is required to be disclosed and that is not so disclosed
in the SEC Reports. Other than the information disclosed in the SEC Reports, the
Company is not subject to any injunction, judgment, decree or order of any
court, regulatory body, administrative agency or other government body.

                  3.6 NO VIOLATIONS. The Company is not in violation of its
Certificate of Incorporation, bylaws or other organizational documents, as
amended. The Company is not in violation of any law, administrative regulation,
ordinance or order of any court or governmental agency, arbitration panel or
authority applicable to the Company, which violation, individually or in the
aggregate, is reasonably likely to have a Material Adverse Effect. The Company
is not in default (and there exists no condition which, with the passage of time
or otherwise, would constitute a default) in the performance of any bond,
debenture, note or any other evidence of indebtedness or any indenture,
mortgage, deed of trust or any other material agreement or instrument to which
the Company is a party or by which the Company is bound, which such default
would have a Material Adverse Effect upon the Company.

                  3.7 GOVERNMENTAL PERMITS, ETC. Each of the Company has all
necessary franchises, licenses, certificates and other authorizations from any
foreign, federal, state or local government or governmental agency, department
or body that are currently necessary for the operation of the business of the
Company as currently conducted, except where the failure to currently possess
such franchises, licenses, certificates and other authorizations is not
reasonably likely to have a Material Adverse Effect.

                  3.8 INTELLECTUAL PROPERTY.

                           (a) Except for matters which are not reasonably
likely to have a Material Adverse Effect, (i) each of the Company has ownership
of, or a license or other legal right to use, all patents, copyrights, trade
secrets, trademarks, customer lists, designs, manufacturing or other processes,
computer software, systems, data compilation, research results or other
proprietary rights used in the business of the Company (collectively,
"INTELLECTUAL PROPERTY") and (ii) all of the Intellectual Property owned by the
Company consisting of patents, registered trademarks and registered copyrights
have been duly registered in, filed in or issued by the United States Patent and
Trademark Office, the United States Register of Copyrights or the corresponding
offices of other jurisdictions and have been maintained and renewed in
accordance with all applicable provisions of law and administrative regulations
in the United States and/or such other jurisdictions.

                           (b) Except for matters which are not reasonably
likely to have a Material Adverse Effect, all material licenses or other
material agreements under which (i) the Company employs rights in Intellectual
Property, or (ii) the Company has granted rights to others in Intellectual
Property owned or licensed by the Company are in full force and effect, and
there is no default by the Company with respect thereto.

                           (c) The Company believes that it has taken all steps
reasonably required in accordance with sound business practice and business
judgment to establish and preserve the ownership of the Company's material
Intellectual Property.

                           (d) Except for matters which are not reasonably
likely to have a Material Adverse Effect, to the knowledge of the Company, (i)
the present business, activities and products of the Company do not infringe any
intellectual property of any other person; (ii) neither the Company is making
unauthorized use of any confidential information or trade secrets of any person;

Securities Purchase Agreement                                       Page 6 of 12

<PAGE>

and (iii) the activities of any of the employees of the Company, acting on
behalf of the Company, do not materially violate any agreements or arrangements
related to confidential information or trade secrets of third parties.

                           (e) Except for matters which are not reasonably
likely to have a Material Adverse Effect, and except as disclosed in the SEC
Reports, no proceedings are pending, or to the knowledge of the Company,
threatened, which challenge the rights of the Company to the use the Company's
Intellectual Property.

                  3.9 FINANCIAL STATEMENTS. The financial statements of the
Company and the related notes contained in the SEC Reports present fairly and
accurately in all material respects the financial position of the Company as of
the dates therein indicated, and the results of its operations, cash flows and
the changes in shareholders' equity for the periods therein specified, subject,
in the case of unaudited financial statements for interim periods, to normal
year-end audit adjustments. Such financial statements (including the related
notes) have been prepared in accordance with generally accepted accounting
principles applied on a consistent basis at the times and throughout the periods
therein specified, except that unaudited financial statements may not contain
all footnotes required by generally accepted accounting principles.

                  3.10 NO MATERIAL ADVERSE CHANGE. Except as disclosed in the
SEC Reports or in any press releases issued by the Company prior to the Closing
Date, there has not been (i) an event, circumstance or change that has had or is
reasonably likely to have a Material Adverse Effect upon the Company, (ii) any
obligation incurred by the Company that is material to the Company, (iii) any
dividend or distribution of any kind declared, paid or made on the capital stock
of the Company, or (iv) any loss or damage (whether or not insured) to the
physical property of the Company which has had a Material Adverse Effect.

                  3.11 AMEX COMPLIANCE. The Company's Common Stock is registered
pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended
(the "EXCHANGE ACT"), and is listed on the American Stock Exchange (the "AMEX"),
and the Company has taken no action intended to, or which to its knowledge could
have the effect of, terminating the registration of the Common Stock under the
Exchange Act or delisting the Common Stock from the Amex. The issuance of the
Shares does not require shareholder approval, including, without limitation,
pursuant to Section 713 of the Amex Company Guide.

                  3.12 REPORTING STATUS. The Company has timely made all filings
required under the Exchange Act during the twelve (12) months preceding the date
of this Agreement, and all of those documents complied in all material respects
with the SEC's requirements as of their respective filing dates, and the
information contained therein as of the respective dates thereof did not contain
an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein in light of the
circumstances under which they were made not misleading. The Company is
currently eligible to register the resale of Common Stock by the Investors
pursuant to a registration statement on Form S-3 under the Securities Act (the
"REGISTRATION STATEMENT").

                  3.13 NO MANIPULATION; DISCLOSURE OF INFORMATION. The Company
has not taken and will not take any action designed to or that might reasonably
be expected to cause or result in an unlawful manipulation of the price of the
Common Stock to facilitate the sale or resale of the Shares. The Company has not
disclosed any material non-public information to the Investors.

Securities Purchase Agreement                                       Page 7 of 12

<PAGE>

                  3.14 ACCOUNTANTS. Epstein Weber & Conover, PLC, who expressed
their opinion with respect to the consolidated financial statements to be
incorporated by reference from the Company's Annual Report on Form 10-K for the
year ended March 31, 2005 into the Registration Statement and the prospectus
which forms a part thereof (the "PROSPECTUS"), have advised the Company that
they are, and to the knowledge of the Company they are, independent accountants
as required by the Securities Act and the rules and regulations promulgated
thereunder.

                  3.15 CONTRACTS. Except for matters which are not reasonably
likely to have a Material Adverse Effect and those contracts that are
substantially or fully performed or expired by their terms, the contracts listed
as exhibits to or described in the SEC Reports that are material to the Company
and all amendments thereto, are in full force and effect on the date hereof, and
neither the Company nor, to the Company's knowledge, any other party to such
contracts is in breach of or default under any of such contracts.

                  3.16 TAXES. Except for tax matters which are not reasonably
likely to have a Material Adverse Effect, each of the Company and each of its
Subsidiaries has filed all necessary federal, state and foreign income and
franchise tax returns and has paid or accrued all taxes shown as due thereon.

                  3.17 TRANSFER TAXES. On the Closing Date, all stock transfer
or other taxes (other than income taxes) which are required to be paid in
connection with the sale and transfer of the Shares hereunder will be, or will
have been, fully paid or provided for by the Company and the Company will have
complied with all laws imposing such taxes.

                  3.18 INVESTMENT COMPANY. The Company is not an "investment
company" or an "affiliated person" of, or "promoter" or "principal underwriter"
for an investment company, within the meaning of the Investment Company Act of
1940, as amended, and will not be deemed an "investment company" as a result of
the transactions contemplated by this Agreement.

                  3.19 INSURANCE. The Company maintains insurance of the types
and in the amounts that the Company reasonably believes is adequate for its
businesses, including, but not limited to, insurance covering real and personal
property owned or leased by the Company against theft, damage, destruction, acts
of vandalism and all other risks customarily insured against by similarly
situated companies, all of which insurance is in full force and effect.

                  3.20 OFFERING PROHIBITIONS. Neither the Company nor any person
acting on its behalf or at its direction has in the past or will in the future
take any action to sell, offer for sale or solicit offers to buy any securities
of the Company which would bring the offer or sale of the Shares as contemplated
by this Agreement within the provisions of Section 5 of the Securities Act.

                  3.21 LISTING. The Company shall comply with all requirements
with respect to the issuance of the Shares and the listing thereof on Amex.

                  3.22 RELATED PARTY TRANSACTIONS. Other than described in the
SEC Reports, to the knowledge of the Company, no transaction has occurred
between or among the Company or any of its affiliates, officers or directors or
any affiliate or affiliates of any such officer or director that with the
passage of time are reasonably likely be required to be disclosed pursuant to
Section 13, 14 or 15(d) of the Exchange Act.

Securities Purchase Agreement                                       Page 8 of 12

<PAGE>

                  3.23 BOOKS AND RECORDS. The books, records and accounts of the
Company accurately and fairly reflect, in reasonable detail, the transactions
in, and dispositions of, the assets of, and the operations of, the Company. The
Company maintains a system of internal accounting controls sufficient to provide
reasonable assurances that (i) transactions are executed in accordance with
management's general or specific authorizations, (ii) transactions are recorded
as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles and to maintain asset accountability,
(iii) access to assets is permitted only in accordance with management's general
or specific authorization and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.

                  3.24 ADDITIONAL CONTINGENT CONSIDERATION. The Company expects
that with the funding of the Offering and the additional capital provided
thereby, that the Company's auditor will not express doubt about the company's
ability to continue as a going concern (i.e. provided a so-called "Clean
Opinion"). However, should the auditor again express such doubt and not provide
a Clean Opinion despite the additional capital as a part of the annual report
for the fiscal year ending March 31, 2006 on Form 10-K, then the Company will
issue to Investors additional cash consideration ("Additional Consideration")
equal to five percent (5.000%) of the gross proceeds. By way of example, should
the Company raise $2,000,000, and the Company's auditor not provide a Clean
Opinion, then iLinc will owe to Investors $100,000, with such Additional
Consideration, if due, paid to within fifteen (15) days of the filing of the
Company's Form 10-K in which the opinion expressing doubt is included. Provided
however, that should the auditor issue an opinion that is a Clean Opinion then
the obligation to provide Contingent Consideration under this Section 3.24 shall
forever expire without further obligation to Investors.

         4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR.

                  4.1 INVESTOR KNOWLEDGE AND STATUS. The Investor represents and
warrants to, and covenants with, the Company that: (i) the Investor is an
"accredited investor" as defined in Regulation D under the Securities Act, is
knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in securities presenting an investment
decision similar to that involved in the purchase of the Shares, and has
requested, received, reviewed and considered all information it deemed relevant
in making an informed decision to purchase the Shares; (ii) the Investor
understands that the Shares are "restricted securities" and have not been
registered under the Securities Act and is acquiring the number of Shares set
forth in paragraph 3 of the Securities Purchase Agreement in the ordinary course
of its business and for its own account for investment only, has no present
intention of distributing any of such Shares and has no arrangement or
understanding with any other persons regarding the distribution of such Shares
(this representation and warranty not limiting the Investor's right to sell
Shares pursuant to a Registration Statement filed under the Registration Rights
Agreement or otherwise, or other than with respect to any claim arising out of a
breach of this representation and warranty, the Investor's right to
indemnification under Section 3 of the Registration Rights Agreement); (iii) the
Investor will not, directly or indirectly, offer, sell, pledge, transfer or
otherwise dispose of (or solicit any offers to buy, purchase or otherwise
acquire or take a pledge of) any of the Shares except in compliance with the
Securities Act, applicable state securities laws and the respective rules and
regulations promulgated thereunder; (iv) the Investor has answered all questions
in paragraph 4 of the Securities Purchase Agreement and the Investor
Questionnaire attached hereto as Exhibit B for use in preparation of the
Registration Statement and the answers thereto are true and correct as of the
date hereof and will be true and correct as of the Closing Date; (v) the
Investor will notify the Company promptly of any change in any of such
information until such time as the Investor has sold all of its Shares or until
the Company is no longer required to keep the Registration Statement effective;
and (vi) the Investor has, in connection with its decision to purchase the
number of Shares set forth in paragraph 3 of the Securities Purchase Agreement,
relied upon the representations and warranties of the Company contained herein

Securities Purchase Agreement                                       Page 9 of 12

<PAGE>

and the information contained in the SEC Reports. The Investor understands that
the issuance of the Shares to the Investor has not been registered under the
Securities Act, or registered or qualified under any state securities law, in
reliance on specific exemptions therefrom, which exemptions may depend upon,
among other things, the representations made by the Investor in this Agreement.
No person (including without limitation the Placement Agent) is authorized by
the Company to provide any representation that is inconsistent with or in
addition to those contained herein or in the SEC Reports, and the Investor
acknowledges that it has not received or relied on any such representations.

                  4.2 TRANSFER OF SHARES. The Investor agrees that it will not
make any sale, transfer or other disposition of the Shares (a "DISPOSITION")
other than Dispositions that are made pursuant to the Registration Statement in
compliance with any applicable prospectus delivery requirements or that are
exempt from registration under the Securities Act. Investor has not taken and
will not take any action designed to or that might reasonably be expected to
cause or result in manipulation of the price of the Common Stock to facilitate
the subscription to, or the sale or resale of the Shares. The Company has not
disclosed any material non-public information to the Investors.

                  4.3 POWER AND AUTHORITY. The Investor represents and warrants
to the Company that (i) the Investor has full right, power, authority and
capacity to enter into this Agreement and to consummate the transactions
contemplated hereby and has taken all necessary action to authorize the
execution, delivery and performance of this Agreement, and (ii) this Agreement
constitutes a valid and binding obligation of the Investor enforceable against
the Investor in accordance with its terms, except to the extent (i) rights to
indemnity and contribution may be limited by state or federal securities laws or
the public policy underlying such laws, (ii) such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors' and contracting parties' rights generally and (iii) such
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                  4.4 NO SHORT POSITION. The Investor has not prior to the
Closing Date, and will not for the one (1) year period beginning with the
Closing Date, established any hedge or other position in the Common Stock that
is issued and outstanding, and that is designed to or could reasonably be
expected to lead to or result in a sale, transfer or other disposition by the
Investor or any other person or entity under the control or direction of
Investor. For purposes hereof, a "hedge or other position" would include,
without limitation, effecting any short sale or having in effect any short
position (whether or not such sale or position is against the box and regardless
of when such position was entered into) or any purchase, sale or grant of any
right (including, without limitation, any put or call option) with respect to
the Common Stock or with respect to any security (other than a broad-based
market basket or index) that includes, relates to or derives any significant
part of its value from the Common Stock.

                  4.5 NO INVESTMENT, TAX OR LEGAL ADVICE. The Investor
understands that nothing in the SEC Reports, this Agreement, or any other
materials presented to the Investor in connection with the purchase and sale of
the Shares constitutes legal, tax or investment advice. The Investor has
consulted such legal, tax and investment advisors as it, in its sole discretion,
has deemed necessary or appropriate in connection with its purchase of Shares.

                  4.6 ACKNOWLEDGMENTS REGARDING PLACEMENT AGENT. The Investor
acknowledges that the Placement Agent has acted solely as placement agent for
the Company in connection with the Offering of the Shares by the Company, and
that the Placement Agent has made no representation or warranty whatsoever with
respect to the accuracy or completeness of information, data or other related
disclosure material that has been provided to the Investor. The Investor further
acknowledges that in making its decision to enter into this Agreement and
purchase the Shares, it has relied on its own examination of the Company and the
terms of, and consequences of holding, the Shares. The Investor further

Securities Purchase Agreement                                      Page 10 of 12

<PAGE>

acknowledges that the provisions of this Section 4.7 are for the benefit of, and
may be enforced by, the Placement Agent. Investor has not received any general
solicitation or advertising regarding the Offering and Investor has not been
furnished with any oral or written representation or information in connection
with the Offering which is not contained in the SEC Reports or set forth in the
Memorandum.

                  4.7 ADDITIONAL ACKNOWLEDGEMENT. Investor has thoroughly
reviewed and the SEC Reports and the Memorandum (the "Disclosure Documents")
prior to making this investment. Investor has been granted a reasonable time
prior to the date hereof during which we have had the opportunity to obtain such
additional information as Investor deems necessary to permit Investor to make an
informed decision with respect to the purchase of the Common Stock. After
examination of the SEC Reports and other information available, Investor is
fully aware of the business prospects, financial condition, risks associated
with investment and the operating history relating to the Company, and therefore
in subscribing for the purchase of the Shares, Investor is not relying upon any
information other than information contained in the Disclosure Documents. The
Investor acknowledges that it has independently evaluated the merits of the
transactions contemplated by this Agreement, that it has independently
determined to enter into the transactions contemplated hereby, that it is not
relying on any advice from or evaluation by any Other Investor, and that it is
not acting in concert with any Other Investor in making its purchase of the
Shares hereunder. The Investor and, to its knowledge, the Company acknowledge
that the Investors have not taken any actions that would deem the Investors to
be members of a "group" for purposes of Section 13(d) of the Exchange Act.

         5. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND AGREEMENTS.
Notwithstanding any investigation made by any party to this Agreement or by the
Placement Agent, all covenants, agreements, representations and warranties made
by the Company and the Investor herein shall survive the execution of this
Agreement, the delivery to the Investor of the Shares being purchased and the
payment therefor, and a party's reliance on such representations and warranties
shall not be affected by any investigation made by such party or any information
developed thereby.

         6.   REGISTRATION OF SHARES; PUBLIC STATEMENTS.

                  6.1 In connection with the purchase and sale of the Shares by
the Investors contemplated hereby, the Company has entered into a Registration
Rights Agreement with each Investor providing for the filing by the Company of a
Registration Statement on Form S-3 to enable the resale of the Shares by the
Investors from time to time.

                  6.2 The Company agrees to disclose on a Current Report on Form
8-K the existence of the Offering and the material terms, thereof, including
pricing, within four (4) days after the Closing. The Company will not issue any
public statement, press release or any other public disclosure listing the
Investor as one of the purchasers of the Shares without the Investor's prior
review of the statement and prior consent thereto, except as may be required by
applicable law or rules of any exchange on which the Company's securities are
listed.

         7. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to

Securities Purchase Agreement                                      Page 11 of 12

<PAGE>

such carrier, (iv) if delivered by facsimile, upon electric confirmation of
receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                           (a)      if to the Company, to:

                                    iLinc Communications, Inc.
                                    2999 North 44th Street, Suite 650
                                    Phoenix, AZ  85016
                                    Attention:  James L. Dunn, Jr.
                                    Telephone:  602-952-1200
                                    Fax: 602-952-1200

                                    with a copy to:
                                    Jackson Walker, LLP
                                    901 Main Street, Suite 6000
                                    Dallas, TX  75202
                                    Attention:  James Ryan III
                                    Telephone:  (516) 433-1200
                                    Fax:  (214) 661-6688

                           (b) if to the Investor, at its address on the
signature page to the Stock Purchase Agreement.

         8. AMENDMENTS; WAIVER. This Agreement may not be modified or amended
except pursuant to an instrument in writing signed by the Company and the
Investor. Any waiver of a provision of this Agreement must be in writing and
executed by the party against whom enforcement of such waiver is sought.

         9. HEADINGS. The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

         10. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the
entire agreement and understanding of the parties relating to the subject matter
hereof and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

         11. GOVERNING LAW. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law.

         12. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

Securities Purchase Agreement                                      Page 12 of 12<PAGE>

EXHIBIT 10.27

                          REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (the "Agreement") is made as of the date set
forth below (the "Effective Date") between iLinc Communications, Inc., a
Delaware corporation (the "COMPANY"), and the purchasers of its Common Stock (as
defined below) pursuant to a Securities Purchase Agreement dated as of the date
hereof (each in "Investor" and, collectively, the "Investors"). Capitalized
terms used and not defined herein shall have the respective meanings ascribed to
them in the Securities Purchase Agreement.

                                    RECITALS

         WHEREAS, the Company has sold 5,405,405 shares (the "SHARES") of its
common stock, $0.001 par value per share, (the "COMMON STOCK"), to certain
investors in a private placement (the "OFFERING"); and

         WHEREAS, the execution and delivery of this Agreement by the Company is
a condition to the completion of the Offering.

                  NOW, THEREFORE, the parties hereto agree as follows:

         1. REGISTRATION PROCEDURES AND EXPENSES. The Company shall:

                           (a) subject to receipt of necessary information from
the Investors, prepare and file with the Securities and Exchange Commission
("SEC"), within thirty (30) days after the Closing Date (the "REQUIRED FILING
DATE"), a Registration Statement on Form S-3 to enable the resale of the Shares
by the Investors from time to time;

                           (b) subject to receipt of necessary information from
the Investors, to cause the Registration Statement to become effective as soon
as practicable, but in no event later than ninety (90) days after the Required
Filing Date (the "REQUIRED EFFECTIVE DATE"). If the Registration Statement (i)
has not been filed by the Required Filing Date or (ii) has not been declared
effective by the SEC on or before the Required Effective Date, then the Company
shall, immediately following the Required Filing Date (if not then so filed) and
the Required Effective Date (if not then so effective), and on each 30th day
anniversary thereafter, make a payment to the Investor as compensation for such
delay (the "LATE REGISTRATION PAYMENTS") an amount equal to one percent (1%) of
the Purchase Price paid for the Shares purchased by the Investor, until the
Registration Statement is filed or declared effective by the SEC.
Notwithstanding the foregoing, in no event shall the total of all Late
Registration Payments exceed in the aggregate ten percent (10%) of such Purchase
Price. Late Registration Payments, if any, will be prorated on a daily basis and
will be paid to Investor by wire transfer or check within five (5) Business Days
after the date that each payment is due;

                           (c) prepare and file with the SEC such amendments and
supplements to the Registration Statement and the Prospectus as may be necessary
to keep the Registration Statement current and effective for a period ending on
the earlier of (i) the second anniversary of the Closing Date, (ii) the date on
which the Investor may sell Shares pursuant to paragraph (k) of Rule 144 under
the Securities Act or any successor rule ("RULE 144") or (iii) such time as all
Shares purchased by such Investor in this Offering have been sold pursuant to a
registration statement or Rule 144, and to notify each Investor promptly upon
the Registration Statement and each post-effective amendment thereto, being
declared effective by the SEC;

Registration Rights Agreement                                       Page 1 of 10

<PAGE>

                           (d) furnish to the Investor such number of copies (in
paper or electronic version) of the Registration Statement and the Prospectus
(including supplemental prospectuses), as the Investor may reasonably request,
in order to facilitate the public sale or other disposition of all or any of the
Shares by the Investor;

                           (e) file documents required of the Company for normal
blue sky clearance in states specified in writing by the Investor; provided,
however, that the Company shall not be required to qualify to do business or
consent to service of process in any jurisdiction in which it is not now so
qualified or has not so consented;

                           (f) bear all expenses (other than underwriting
discounts and commissions, if any) in connection with the procedures in
paragraph (a) through (e) of this Section 1 and the registration of the Shares
pursuant to the Registration Statement;

                           (g) advise the Investors, promptly after it shall
receive notice or obtain knowledge of the issuance of any stop order by the SEC
delaying or suspending the effectiveness of the Registration Statement or of the
initiation of any proceeding for that purpose; and it will promptly use its
commercially reasonable efforts to prevent the issuance of any stop order or to
obtain its withdrawal at the earliest possible moment if such stop order should
be issued; and

                           (h) with a view to making available to the Investor
the benefits of Rule 144 or other rule that may permit the Investor to sell
Shares without registration, the Company agrees to use its commercially
reasonable efforts to: (i) make and keep public information available, as those
terms are understood and defined in Rule 144, until the earlier of (A) such date
as all of the Investor's Shares may be resold pursuant to Rule 144(k) or (B)
such date as all of the Investor's Shares shall have been sold; (ii) file with
the SEC in a timely manner all reports and other documents required of the
Company under the Securities Act and under the Exchange Act; and (iii) furnish
to the Investor upon request a written statement that the Company has complied
with the reporting requirements of the Securities Act and the Exchange Act, a
copy (in paper or electronic version) of the Company's most recent Annual Report
on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as
may be reasonably requested that permits the selling of any such Shares without
registration.

         It shall be a condition precedent to the obligations of the Company to
take any action pursuant to this Section 1 that the Investor shall furnish to
the Company such information and representations regarding Investor, the Shares
to be sold by Investor, and the intended method of disposition of such
securities as shall be required to effect the registration of the Shares and/or
sale under Rule 144.

         The Company understands that the Investor disclaims being an
underwriter, but acknowledges that a determination by the SEC that the Investor
is deemed an underwriter shall not relieve the Company of any obligations it has
hereunder.

         2. TRANSFER OF SHARES AFTER REGISTRATION; SUSPENSION.

                           (a) The Investor agrees that it will not effect any
disposition or other transfer of the Shares or its right to purchase the Shares
that would constitute a sale within the meaning of the Securities Act other than
transactions exempt from the registration requirements of the Securities Act, as
contemplated in the Registration Statement and as described below, and that it
will promptly notify the Company of any material changes in the information set
forth in the Registration Statement regarding the Investor or its plan of
distribution.

Registration Rights Agreement                                       Page 2 of 10

<PAGE>

                           (b) Except in the event that paragraph (c) below
applies, the Company shall: (i) if deemed necessary by the Company, prepare and
file from time to time with the SEC a post-effective amendment to the
Registration Statement or a supplement to the related Prospectus or a supplement
or amendment to any document incorporated therein by reference or file any other
required document so that such Registration Statement will not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
so that, as thereafter delivered to purchasers of the Shares being sold
thereunder, such Prospectus will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they
were made, not misleading; (ii) provide the Investor with either copies of any
documents filed pursuant to Section 2(b)(i) or access to such documents
electronically; and (iii) upon request, inform each Investor who so requests
that the Company has complied with its obligations in Section 2(b)(i) (or that,
if the Company has filed a post-effective amendment to the Registration
Statement which has not yet been declared effective, the Company will notify the
Investor to that effect, will use its best efforts to secure the effectiveness
of such post-effective amendment as promptly as possible and will promptly
notify the Investor pursuant to Section 2(b)(i) hereof when the amendment has
become effective).

                           (c) Subject to paragraph (d) below, in the event: (i)
of any request by the SEC or any other federal or state governmental authority
during the period of effectiveness of the Registration Statement for amendments
or supplements to the Registration Statement or related Prospectus or for
additional information; (ii) of the issuance by the SEC or any other federal or
state governmental authority of any stop order suspending the effectiveness of
the Registration Statement or the initiation of any proceedings for that
purpose; (iii) of the receipt by the Company of any notification with respect to
the suspension of the qualification or exemption from qualification of any of
the Shares for sale in any jurisdiction or the initiation of any proceeding for
such purpose; or (iv) of any event or circumstance which necessitates the making
of any material changes in the Registration Statement or Prospectus, or any
document incorporated or deemed to be incorporated therein by reference, so
that, in the case of the Registration Statement, it will not contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
that in the case of the Prospectus, it will not contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; then the Company shall promptly
deliver a certificate in writing or electronically to the Investor (the
"SUSPENSION NOTICE") to the effect of the foregoing and, upon receipt of such
Suspension Notice, the Investor will refrain from selling any Shares pursuant to
the Registration Statement (a "SUSPENSION") until the Investors are advised in
writing by the Company that the current Prospectus may be used, and has received
copies of any additional or supplemental filings that are incorporated or deemed
incorporated by reference in any such Prospectus. In the event of any
Suspension, the Company will use its reasonable best efforts to cause the use of
the Prospectus so suspended to be resumed as soon as reasonably practicable
after delivery of a Suspension Notice to the Investors. In addition to and
without limiting any other remedies (including, without limitation, at law or at
equity) available to the Investor, the Investor shall be entitled to specific
performance in the event that the Company fails to comply with the provisions of
this Section 2(c). The Investor covenants that from the date hereof it will
maintain in confidence the receipt and content of any Suspension Notice provided
in accordance with this paragraph (c) in accordance with and subject to Section
4.6 of Annex I to the Securities Purchase Agreement.

                           (d) If a Suspension is not then in effect, the
Investor may sell Shares under the Registration Statement, provided that it
complies with any applicable prospectus delivery requirements. Upon receipt of a
request therefor, the Company will provide an adequate number of current
Prospectuses to the Investor and to any other parties requiring such
Prospectuses.

Registration Rights Agreement                                       Page 3 of 10

<PAGE>

                           (e) In the event of a sale of Shares by the Investor,
unless such requirement is waived by the Company in writing, the Investor must
also deliver to the Company's transfer agent, with a copy to the Company, a
Certificate of Subsequent Sale substantially in the form attached hereto as
Exhibit A, so that the Shares may be properly transferred.

                           (f) The Company agrees that it shall, immediately
prior to the Registration Statement being declared effective, deliver to its
transfer agent an opinion letter of counsel, opining that at any time the
Registration Statement is effective, the transfer agent shall issue, in
connection with the sale of the Shares, certificates representing such Shares
without restrictive legend, provided the Shares are to be sold pursuant to the
Prospectus contained in the Registration Statement and the transfer agent
receives a Certificate of Subsequent Sale in the form attached hereto as Exhibit
"A." Upon receipt of such opinion, the Company shall cause the transfer agent to
confirm, for the benefit of the Investor, that no further opinion of counsel is
required at the time of transfer in order to issue such Shares without
restrictive legend.

The Company shall cause its transfer agent to issue a certificate without any
restrictive legend to a purchaser of any Shares from the Investor at Investor's
expense and upon request of Investor, if (a) the sale of such Shares is
registered under the Registration Statement (including registration pursuant to
Rule 415 under the Securities Act) and the Investor has delivered a Certificate
of Subsequent Sale to the Transfer Agent; (b) the holder has provided the
Company with an opinion of counsel, in form, substance and scope customary for
opinions of counsel in comparable transactions, to the effect that a public sale
or transfer of such Shares may be made without registration under the Securities
Act; or (c) such Shares are sold in compliance with Rule 144 under the
Securities Act. In addition, the Company shall, at the Investors expense and
upon request of the Investor, remove the restrictive legend from any Shares held
by the Investor following the expiration of the holding period required by Rule
144(k) under the Securities Act (or any successor rule).

         3. INDEMNIFICATION. For the purpose of this Section 3:

                           (a) the term "SELLING SHAREHOLDER" shall mean the
Investor and each person, if any, who controls the Investor within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act;

                           (b) the term "REGISTRATION STATEMENT" shall mean the
final Prospectus, supplement or amendment thereto (or deemed to be a part
thereof) referred to in Section 1; and

                           (c) the term "UNTRUE STATEMENT" shall mean any
material untrue statement, or any material omission of a statement of a material
fact required to be made therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not materially
misleading.

                           (d) (i) The Company agrees to indemnify and hold
harmless each Selling Shareholder from and against any losses, or damages to
which such Selling Shareholder may incur (under the Securities Act or otherwise)
insofar as such losses or damages arise out of (i) any untrue statement of a
material fact contained in the Registration Statement, or (ii) any inaccuracy in
the representations of the Company contained in this Agreement. The Company will
reimburse such Selling Shareholder for any reasonable legal expense incurred or
any out of pocket expenses reasonably incurred in defending any such claim or
action; provided, however, that the Company shall not be liable in any such case

Registration Rights Agreement                                       Page 4 of 10

<PAGE>

to the extent that such loss or damage arises out of, or is based upon, an
untrue statement made in such Registration Statement in reliance upon and in
conformity with written information furnished to the Company by or on behalf of
such Selling Shareholder for use in preparation of the Registration Statement,
or any inaccuracy in representations made by such Selling Shareholder in the
Investor Questionnaire or the failure of such Selling Shareholder to comply with
its covenants and agreements contained in Sections in this Agreement or
contained in the Securities Purchase Agreement or any statement or omission in
any Prospectus that is corrected in any subsequent Prospectus that was delivered
to the Selling Shareholder prior to the pertinent sale or sales by the Selling
Shareholder. The obligation to indemnify shall be limited to the net amount of
the proceeds received by the Company from the Investor as a result of the
Offering.

                                    (ii) The Investor agrees to indemnify and
hold harmless the Company (and each person, if any, who controls the Company
within the meaning of Section 15 of the Securities Act, each officer of the
Company who signs the Registration Statement and each director of the Company)
from and against any losses or damage to which the Company (or any such officer,
director or controlling person) may become subject (under the Securities Act or
otherwise), insofar as such loss or damage (or actions or proceedings in respect
thereof) arise out of, or are based upon, (i) any failure to comply with the
covenants and agreements contained in this Agreement or of the Securities
Purchase Agreement or (ii) any untrue statement of a material fact contained in
the Registration Statement if, and only if, such untrue statement was made in
reliance upon and in conformity with written information furnished by or on
behalf of the Investor specifically for use in preparation of the Registration
Statement. The Investor will reimburse the Company (or such officer, director or
controlling person), as the case may be, for any reasonable legal expense or
other actual accountable out-of-pocket expenses reasonably incurred in defending
any such claim, action or proceeding. The obligation to indemnify shall be
limited to the net amount of the proceeds received by the Investor from the sale
of the Shares pursuant to the Registration Statement.

                                    (iii) Promptly after receipt by any
indemnified person of a notice of a claim or the beginning of any action in
respect of which indemnity is to be sought against an indemnifying person
pursuant to this Section 3, such indemnified person shall notify the
indemnifying person in writing of such claim or of the commencement of such
action, but the omission to so notify the indemnifying party will not relieve it
from any liability which it may have to any indemnified party under this Section
3 (except to the extent that such omission materially and adversely affects the
indemnifying party's ability to defend such action) or from any liability
otherwise than under this Section 3. Subject to the provisions hereinafter
stated, in case any such action shall be brought against an indemnified person,
the indemnifying person shall be entitled to participate therein, and, to the
extent that it shall elect by written notice delivered to the indemnified party
promptly after receiving the aforesaid notice from such indemnified party, shall
be entitled to assume the defense thereof, with counsel reasonably satisfactory
to such indemnified person. After notice from the indemnifying person to such
indemnified person of its election to assume the defense thereof (unless it has
failed to assume the defense thereof and appoint counsel reasonably satisfactory
to the indemnified party), such indemnifying person shall not be liable to such
indemnified person for any legal expenses subsequently incurred by such
indemnified person in connection with the defense thereof; provided, however,
that if there exists or shall exist a conflict of interest that would make it
inappropriate, in the reasonable opinion of counsel to the indemnified person,
for the same counsel to represent both the indemnified person and such
indemnifying person or any affiliate or associate thereof, the indemnified
person shall be entitled to retain its own counsel at the expense of such
indemnifying person; provided, however, that no indemnifying person shall be
responsible for the fees and expenses of more than one separate counsel
(together with appropriate local counsel) for all indemnified parties. In no
event shall any indemnifying person be liable in respect of any amounts paid in
settlement of any action unless the indemnifying person shall have approved the
terms of such settlement; provided that such consent shall not be unreasonably

Registration Rights Agreement                                       Page 5 of 10

<PAGE>

withheld. No indemnifying person shall, without the prior written consent of the
indemnified person, effect any settlement of any pending or threatened
proceeding in respect of which any indemnified person is or could reasonably
have been a party and indemnification could have been sought hereunder by such
indemnified person, unless such settlement includes an unconditional release of
such indemnified person from all liability on claims that are the subject matter
of such proceeding.

                                    (iv) If the indemnification provided for in
this Section 3 is unavailable to or insufficient to hold harmless an indemnified
party under paragraphs 3(d)(i) or 3(d)(ii) above in respect of any loss or
damage (or actions or proceedings in respect thereof) referred to therein, then
each indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such loss or damage (or actions in respect
thereof) in such proportion as is appropriate to reflect the relative fault of
the Company on the one hand and the Investor on the other in connection with the
statements or omissions or other matters which resulted in such loss or damage
(or actions in respect thereof), as well as any other relevant equitable
considerations. The relative fault shall be determined by reference to, among
other things, in the case of an untrue statement, whether the untrue statement
relates to information supplied by the Company on the one hand or the Investor
on the other and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such untrue statement. The Company and the
Investor agree that it would not be just and equitable if contribution pursuant
to this subsection (d) were determined by pro rata allocation (even if the
Investors were treated as one entity for such purpose) or by any other method of
allocation which does not take into account the equitable considerations
referred to above in this subsection (d). The amount paid or payable by an
indemnified party as a result of the loss or damage (or actions in respect
thereof) referred to above in this subsection (d) shall be deemed to include any
reasonable legal fees incurred by such indemnified party in connection with
defending any such action or claim. Notwithstanding the provisions of this
subsection (d), the Investor shall not be required to contribute any amount in
excess of the amount by which the gross amount received by the Investor from the
sale of the Shares to which such loss relates exceeds the amount of any damages
which the Investor has otherwise been required to pay by reason of such untrue
statement. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. The
Investors' obligations in this subsection to contribute are several in
proportion to their sales of Shares to which such loss relates and not joint.

                           (e) The parties to this Agreement hereby acknowledge
that they are sophisticated business persons who were represented by counsel
during the negotiations regarding the provisions hereof including, without
limitation, the provisions of this Section 3, and are fully informed regarding
said provisions. They further acknowledge that the provisions of this Section 3
fairly allocate the risks in light of the ability of the parties to investigate
the Company and its business in order to assure that adequate disclosure is made
in the Registration Statement as required by the Securities Act and the Exchange
Act.

         4. Additonal Piggyback Registration Rights.

                           (a) At any time within two (2) years following the
Effective Date, unless the registration statement pursuant to Section 1 above is
filed, if the Company proposes to register any Common Stock for its own or
others' account under the Securities Act of 1933, (other than the registration
required by Section 1 above) (an "Alternative Registration"), then the Company
shall give each Investor prompt written notice of its intent to register such
securities (the "Registration Notice") at least thirty (30) days prior to the
filing of the Alternative Registration statement with the SEC. The Registration
Notice shall specify the approximate date on which the Company proposes to file
such Alternative Registration statement and shall contain a statement that each
Investor is entitled to participate in such Alternative Registration, and shall
set forth the number of shares of Common Stock that may be registered as a part

Registration Rights Agreement                                       Page 6 of 10

<PAGE>

of the Alternative Registration. Each Investor desiring to participate in such
Alternative Registration shall notify the Company no later than twenty (20) days
following receipt of the Registration Notice of the aggregate number of shares
of Common Stock that such Investor then desires to sell in the offering. This
piggy back registration provision shall be merely supplemental to, and shall not
in any way otherwise diminish, the obligation to file the registration statement
described in Section 1 above.

         5. TERMINATION OF CONDITIONS AND OBLIGATIONS. The conditions precedent
imposed by Section 4 of the Securities Purchase Agreement or this Agreement upon
the transferability of the Shares shall cease and terminate as to any particular
number of the Shares when such Shares shall have been effectively registered
under the Securities Act and sold or otherwise disposed of in accordance with
the intended method of disposition set forth in the Registration Statement
covering such Shares or at such time as an opinion of counsel satisfactory to
the Company shall have been rendered to the effect that such conditions are not
necessary in order to comply with the Securities Act.

         6. INFORMATION AVAILABLE. So long as the Registration Statement is
effective covering the resale of Shares owned by the Investor, the Company will
furnish (or, to the extent such information is available electronically through
the Company's filings with the SEC, the Company will make available) to the
Investor:

                           (a) as soon as practicable after it is available, one
copy of (i) its Annual Report to Shareholders (which Annual Report shall contain
financial statements audited in accordance with generally accepted accounting
principles by a national firm of certified public accountants) and (ii) if not
included in substance in the Annual Report to Shareholders, its Annual Report on
Form 10-K (the foregoing, in each case, excluding exhibits); and,

                           (b) upon the reasonable request of the Investor, an
adequate number of copies of the Prospectuses to supply to any other party
requiring such Prospectuses either in printed or electronic form.

         7. LIMITS ON ADDITIONAL ISSUANCES. Except for the issuance of stock
options under the Company's stock option plan, the issuance of warrants to
purchase the Company's common stock, or the issuance of common stock under the
Company's employee stock purchase plan or upon exercise of outstanding options
and warrants and the offering contemplated hereby, the Company will not, for a
period of three (3) months following the Closing Date, offer for sale or sell
any securities unless, in the opinion of the Company's counsel, such offer or
sale does not jeopardize the availability of exemptions from the registration
and qualification requirements under applicable securities laws with respect to
the Offering. The foregoing shall not apply to securities issued in connection
with any acquisition, including by way of merger, or purchase of stock or all or
substantially all of the assets of any third party. The foregoing provisions
shall not prevent the Company from filing a "shelf" registration statement
pursuant to Rule 415 under the Securities Act, but the foregoing provisions
shall apply to any sale of securities thereunder.

         8. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to
such carrier, (iv) if delivered by facsimile, upon electric confirmation of

Registration Rights Agreement                                       Page 7 of 10

<PAGE>

receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                           (a)      if to the Company, to:

                                    iLinc Communications, Inc.
                                    2999 North 44th Street, Suite 650
                                    Phoenix, AZ  85018
                                    Attention:  James L. Dunn, Jr.
                                                General Counsel
                                    Telephone:  602-952-1200

                                    with a copy to:

                                    Jackson Walker, LLP
                                    901 Main Street, Suite 6000
                                    Dallas, TX  75202
                                    Attention:  James Ryan III
                                    Telephone:  (214) 953-6000

                           (b) if to the Investor, at its address on the
signature page to the Stock Purchase Agreement.

         9. AMENDMENTS; WAIVER. This Agreement may not be modified or amended
except pursuant to an instrument in writing signed by the Company and the
Investor. Any waiver of a provision of this Agreement must be in writing and
executed by the party against whom enforcement of such waiver is sought.

         10. HEADINGS. The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

         11. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the
entire agreement and understanding of the parties relating to the subject matter
hereof and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

         12. GOVERNING LAW. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law.

         13. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Registration Rights Agreement                                       Page 8 of 10

<PAGE>

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                       DATED AS OF:  June 15, 2006

                                       Herald  Investment  Management  Limited
                                       on behalf of Herald Investment Trust, PLC
                                       -----------------------------------------
                                                    [INVESTOR NAME]

                                       By: /s/ Fraser Elms
                                           -------------------------------------
                                           Name: Fraser Elms
                                           Title: Fund Manager
                                       Herald Investment Management Ltd.

                                       Address: 10 -11 Charterhouse Square
                                                --------------------------------
                                       London EC1M 6AX
                                       -----------------------------------------

AGREED AND ACCEPTED:

iLinc Communications, Inc.

By: /s/ James M. Powers, Jr.
    ----------------------------------
    Name: James M. Powers, Jr.
    Title: President

Registration Rights Agreement                                       Page 9 of 10

<PAGE>

                                    EXHIBIT A

                           ILINC COMMUNICATIONS, INC.
                         CERTIFICATE OF SUBSEQUENT SALE

[Transfer Agent]

______________________________
______________________________

         RE:      Sale of Shares of Common Stock of iLinc Communications, Inc.
                  (the "Company") pursuant to the Company's Prospectus dated
                  _______________, 2005 (the "Prospectus")

Dear Sir/Madam:

         The undersigned hereby certifies, in connection with the sale of shares
of Common Stock of the Company included in the table of Selling Shareholders in
the Prospectus, that the undersigned has sold the Shares pursuant to the
Prospectus and in a manner described under the caption "Plan of Distribution" in
the Prospectus and that such sale complies with all applicable securities laws,
including, without limitation, the Prospectus delivery requirements of the
Securities Act of 1933, as amended.

         Selling Shareholder (the beneficial owner): ___________________________

         Record Holder (e.g., if held in name of nominee): _____________________

         Restricted Stock Certificate No.(s): __________________________________

         Number of Shares Sold: ________________________________________________

         Date of Sale: _________________________________________________________

         In the event that you receive a stock certificate(s) representing more
shares of Common Stock than have been sold by the undersigned, then you should
return to the undersigned a newly issued certificate for such excess shares in
the name of the Record Holder and BEARING A RESTRICTIVE LEGEND. Further, you
should place a stop transfer on your records with regard to such certificate.

Dated: ______________________              Very truly yours,

                                           By: _________________________________

                                           Print Name: _________________________

                                           Title: ______________________________

                                      A-1

Registration Rights Agreement                                      Page 10 of 10

<PAGE>

                          REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (the "Agreement") is made as of the date set
forth below (the "Effective Date") between iLinc Communications, Inc., a
Delaware corporation (the "COMPANY"), and the purchasers of its Common Stock (as
defined below) pursuant to a Securities Purchase Agreement dated as of the date
hereof (each in "Investor" and, collectively, the "Investors"). Capitalized
terms used and not defined herein shall have the respective meanings ascribed to
them in the Securities Purchase Agreement.

                                    RECITALS

         WHEREAS, the Company has sold 5,405,405 shares (the "SHARES") of its
common stock, $0.001 par value per share, (the "COMMON STOCK"), to certain
investors in a private placement (the "OFFERING"); and

         WHEREAS, the execution and delivery of this Agreement by the Company is
a condition to the completion of the Offering.

                  NOW, THEREFORE, the parties hereto agree as follows:

         1. REGISTRATION PROCEDURES AND EXPENSES. The Company shall:

                           (a) subject to receipt of necessary information from
the Investors, prepare and file with the Securities and Exchange Commission
("SEC"), within thirty (30) days after the Closing Date (the "REQUIRED FILING
DATE"), a Registration Statement on Form S-3 to enable the resale of the Shares
by the Investors from time to time;

                           (b) subject to receipt of necessary information from
the Investors, to cause the Registration Statement to become effective as soon
as practicable, but in no event later than ninety (90) days after the Required
Filing Date (the "REQUIRED EFFECTIVE DATE"). If the Registration Statement (i)
has not been filed by the Required Filing Date or (ii) has not been declared
effective by the SEC on or before the Required Effective Date, then the Company
shall, immediately following the Required Filing Date (if not then so filed) and
the Required Effective Date (if not then so effective), and on each 30th day
anniversary thereafter, make a payment to the Investor as compensation for such
delay (the "LATE REGISTRATION PAYMENTS") an amount equal to one percent (1%) of
the Purchase Price paid for the Shares purchased by the Investor, until the
Registration Statement is filed or declared effective by the SEC.
Notwithstanding the foregoing, in no event shall the total of all Late
Registration Payments exceed in the aggregate ten percent (10%) of such Purchase
Price. Late Registration Payments, if any, will be prorated on a daily basis and
will be paid to Investor by wire transfer or check within five (5) Business Days
after the date that each payment is due;

                           (c) prepare and file with the SEC such amendments and
supplements to the Registration Statement and the Prospectus as may be necessary
to keep the Registration Statement current and effective for a period ending on
the earlier of (i) the second anniversary of the Closing Date, (ii) the date on
which the Investor may sell Shares pursuant to paragraph (k) of Rule 144 under
the Securities Act or any successor rule ("RULE 144") or (iii) such time as all
Shares purchased by such Investor in this Offering have been sold pursuant to a
registration statement or Rule 144, and to notify each Investor promptly upon
the Registration Statement and each post-effective amendment thereto, being
declared effective by the SEC;

Registration Rights Agreement                                       Page 1 of 10

<PAGE>

                           (d) furnish to the Investor such number of copies (in
paper or electronic version) of the Registration Statement and the Prospectus
(including supplemental prospectuses), as the Investor may reasonably request,
in order to facilitate the public sale or other disposition of all or any of the
Shares by the Investor;

                           (e) file documents required of the Company for normal
blue sky clearance in states specified in writing by the Investor; provided,
however, that the Company shall not be required to qualify to do business or
consent to service of process in any jurisdiction in which it is not now so
qualified or has not so consented;

                           (f) bear all expenses (other than underwriting
discounts and commissions, if any) in connection with the procedures in
paragraph (a) through (e) of this Section 1 and the registration of the Shares
pursuant to the Registration Statement;

                           (g) advise the Investors, promptly after it shall
receive notice or obtain knowledge of the issuance of any stop order by the SEC
delaying or suspending the effectiveness of the Registration Statement or of the
initiation of any proceeding for that purpose; and it will promptly use its
commercially reasonable efforts to prevent the issuance of any stop order or to
obtain its withdrawal at the earliest possible moment if such stop order should
be issued; and

                           (h) with a view to making available to the Investor
the benefits of Rule 144 or other rule that may permit the Investor to sell
Shares without registration, the Company agrees to use its commercially
reasonable efforts to: (i) make and keep public information available, as those
terms are understood and defined in Rule 144, until the earlier of (A) such date
as all of the Investor's Shares may be resold pursuant to Rule 144(k) or (B)
such date as all of the Investor's Shares shall have been sold; (ii) file with
the SEC in a timely manner all reports and other documents required of the
Company under the Securities Act and under the Exchange Act; and (iii) furnish
to the Investor upon request a written statement that the Company has complied
with the reporting requirements of the Securities Act and the Exchange Act, a
copy (in paper or electronic version) of the Company's most recent Annual Report
on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as
may be reasonably requested that permits the selling of any such Shares without
registration.

         It shall be a condition precedent to the obligations of the Company to
take any action pursuant to this Section 1 that the Investor shall furnish to
the Company such information and representations regarding Investor, the Shares
to be sold by Investor, and the intended method of disposition of such
securities as shall be required to effect the registration of the Shares and/or
sale under Rule 144.

         The Company understands that the Investor disclaims being an
underwriter, but acknowledges that a determination by the SEC that the Investor
is deemed an underwriter shall not relieve the Company of any obligations it has
hereunder.

         2. TRANSFER OF SHARES AFTER REGISTRATION; SUSPENSION.

                           (a) The Investor agrees that it will not effect any
disposition or other transfer of the Shares or its right to purchase the Shares
that would constitute a sale within the meaning of the Securities Act other than
transactions exempt from the registration requirements of the Securities Act, as
contemplated in the Registration Statement and as described below, and that it
will promptly notify the Company of any material changes in the information set
forth in the Registration Statement regarding the Investor or its plan of
distribution.

Registration Rights Agreement                                       Page 2 of 10

<PAGE>

                           (b) Except in the event that paragraph (c) below
applies, the Company shall: (i) if deemed necessary by the Company, prepare and
file from time to time with the SEC a post-effective amendment to the
Registration Statement or a supplement to the related Prospectus or a supplement
or amendment to any document incorporated therein by reference or file any other
required document so that such Registration Statement will not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
so that, as thereafter delivered to purchasers of the Shares being sold
thereunder, such Prospectus will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they
were made, not misleading; (ii) provide the Investor with either copies of any
documents filed pursuant to Section 2(b)(i) or access to such documents
electronically; and (iii) upon request, inform each Investor who so requests
that the Company has complied with its obligations in Section 2(b)(i) (or that,
if the Company has filed a post-effective amendment to the Registration
Statement which has not yet been declared effective, the Company will notify the
Investor to that effect, will use its best efforts to secure the effectiveness
of such post-effective amendment as promptly as possible and will promptly
notify the Investor pursuant to Section 2(b)(i) hereof when the amendment has
become effective).

                           (c) Subject to paragraph (d) below, in the event: (i)
of any request by the SEC or any other federal or state governmental authority
during the period of effectiveness of the Registration Statement for amendments
or supplements to the Registration Statement or related Prospectus or for
additional information; (ii) of the issuance by the SEC or any other federal or
state governmental authority of any stop order suspending the effectiveness of
the Registration Statement or the initiation of any proceedings for that
purpose; (iii) of the receipt by the Company of any notification with respect to
the suspension of the qualification or exemption from qualification of any of
the Shares for sale in any jurisdiction or the initiation of any proceeding for
such purpose; or (iv) of any event or circumstance which necessitates the making
of any material changes in the Registration Statement or Prospectus, or any
document incorporated or deemed to be incorporated therein by reference, so
that, in the case of the Registration Statement, it will not contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
that in the case of the Prospectus, it will not contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; then the Company shall promptly
deliver a certificate in writing or electronically to the Investor (the
"SUSPENSION NOTICE") to the effect of the foregoing and, upon receipt of such
Suspension Notice, the Investor will refrain from selling any Shares pursuant to
the Registration Statement (a "SUSPENSION") until the Investors are advised in
writing by the Company that the current Prospectus may be used, and has received
copies of any additional or supplemental filings that are incorporated or deemed
incorporated by reference in any such Prospectus. In the event of any
Suspension, the Company will use its reasonable best efforts to cause the use of
the Prospectus so suspended to be resumed as soon as reasonably practicable
after delivery of a Suspension Notice to the Investors. In addition to and
without limiting any other remedies (including, without limitation, at law or at
equity) available to the Investor, the Investor shall be entitled to specific
performance in the event that the Company fails to comply with the provisions of
this Section 2(c). The Investor covenants that from the date hereof it will
maintain in confidence the receipt and content of any Suspension Notice provided
in accordance with this paragraph (c) in accordance with and subject to Section
4.6 of Annex I to the Securities Purchase Agreement.

                           (d) If a Suspension is not then in effect, the
Investor may sell Shares under the Registration Statement, provided that it
complies with any applicable prospectus delivery requirements. Upon receipt of a
request therefor, the Company will provide an adequate number of current
Prospectuses to the Investor and to any other parties requiring such
Prospectuses.

Registration Rights Agreement                                       Page 3 of 10

<PAGE>

                           (e) In the event of a sale of Shares by the Investor,
unless such requirement is waived by the Company in writing, the Investor must
also deliver to the Company's transfer agent, with a copy to the Company, a
Certificate of Subsequent Sale substantially in the form attached hereto as
Exhibit A, so that the Shares may be properly transferred.

                           (f) The Company agrees that it shall, immediately
prior to the Registration Statement being declared effective, deliver to its
transfer agent an opinion letter of counsel, opining that at any time the
Registration Statement is effective, the transfer agent shall issue, in
connection with the sale of the Shares, certificates representing such Shares
without restrictive legend, provided the Shares are to be sold pursuant to the
Prospectus contained in the Registration Statement and the transfer agent
receives a Certificate of Subsequent Sale in the form attached hereto as Exhibit
"A." Upon receipt of such opinion, the Company shall cause the transfer agent to
confirm, for the benefit of the Investor, that no further opinion of counsel is
required at the time of transfer in order to issue such Shares without
restrictive legend.

The Company shall cause its transfer agent to issue a certificate without any
restrictive legend to a purchaser of any Shares from the Investor at Investor's
expense and upon request of Investor, if (a) the sale of such Shares is
registered under the Registration Statement (including registration pursuant to
Rule 415 under the Securities Act) and the Investor has delivered a Certificate
of Subsequent Sale to the Transfer Agent; (b) the holder has provided the
Company with an opinion of counsel, in form, substance and scope customary for
opinions of counsel in comparable transactions, to the effect that a public sale
or transfer of such Shares may be made without registration under the Securities
Act; or (c) such Shares are sold in compliance with Rule 144 under the
Securities Act. In addition, the Company shall, at the Investors expense and
upon request of the Investor, remove the restrictive legend from any Shares held
by the Investor following the expiration of the holding period required by Rule
144(k) under the Securities Act (or any successor rule).

         3. INDEMNIFICATION. For the purpose of this Section 3:

                           (a) the term "SELLING SHAREHOLDER" shall mean the
Investor and each person, if any, who controls the Investor within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act;

                           (b) the term "REGISTRATION STATEMENT" shall mean the
final Prospectus, supplement or amendment thereto (or deemed to be a part
thereof) referred to in Section 1; and

                           (c) the term "UNTRUE STATEMENT" shall mean any
material untrue statement, or any material omission of a statement of a material
fact required to be made therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not materially
misleading.

                           (d) (i) The Company agrees to indemnify and hold
harmless each Selling Shareholder from and against any losses, or damages to
which such Selling Shareholder may incur (under the Securities Act or otherwise)
insofar as such losses or damages arise out of (i) any untrue statement of a
material fact contained in the Registration Statement, or (ii) any inaccuracy in
the representations of the Company contained in this Agreement. The Company will
reimburse such Selling Shareholder for any reasonable legal expense incurred or
any out of pocket expenses reasonably incurred in defending any such claim or
action; provided, however, that the Company shall not be liable in any such case

Registration Rights Agreement                                       Page 4 of 10

<PAGE>

to the extent that such loss or damage arises out of, or is based upon, an
untrue statement made in such Registration Statement in reliance upon and in
conformity with written information furnished to the Company by or on behalf of
such Selling Shareholder for use in preparation of the Registration Statement,
or any inaccuracy in representations made by such Selling Shareholder in the
Investor Questionnaire or the failure of such Selling Shareholder to comply with
its covenants and agreements contained in Sections in this Agreement or
contained in the Securities Purchase Agreement or any statement or omission in
any Prospectus that is corrected in any subsequent Prospectus that was delivered
to the Selling Shareholder prior to the pertinent sale or sales by the Selling
Shareholder. The obligation to indemnify shall be limited to the net amount of
the proceeds received by the Company from the Investor as a result of the
Offering.

                                    (ii) The Investor agrees to indemnify and
hold harmless the Company (and each person, if any, who controls the Company
within the meaning of Section 15 of the Securities Act, each officer of the
Company who signs the Registration Statement and each director of the Company)
from and against any losses or damage to which the Company (or any such officer,
director or controlling person) may become subject (under the Securities Act or
otherwise), insofar as such loss or damage (or actions or proceedings in respect
thereof) arise out of, or are based upon, (i) any failure to comply with the
covenants and agreements contained in this Agreement or of the Securities
Purchase Agreement or (ii) any untrue statement of a material fact contained in
the Registration Statement if, and only if, such untrue statement was made in
reliance upon and in conformity with written information furnished by or on
behalf of the Investor specifically for use in preparation of the Registration
Statement. The Investor will reimburse the Company (or such officer, director or
controlling person), as the case may be, for any reasonable legal expense or
other actual accountable out-of-pocket expenses reasonably incurred in defending
any such claim, action or proceeding. The obligation to indemnify shall be
limited to the net amount of the proceeds received by the Investor from the sale
of the Shares pursuant to the Registration Statement.

                                    (iii) Promptly after receipt by any
indemnified person of a notice of a claim or the beginning of any action in
respect of which indemnity is to be sought against an indemnifying person
pursuant to this Section 3, such indemnified person shall notify the
indemnifying person in writing of such claim or of the commencement of such
action, but the omission to so notify the indemnifying party will not relieve it
from any liability which it may have to any indemnified party under this Section
3 (except to the extent that such omission materially and adversely affects the
indemnifying party's ability to defend such action) or from any liability
otherwise than under this Section 3. Subject to the provisions hereinafter
stated, in case any such action shall be brought against an indemnified person,
the indemnifying person shall be entitled to participate therein, and, to the
extent that it shall elect by written notice delivered to the indemnified party
promptly after receiving the aforesaid notice from such indemnified party, shall
be entitled to assume the defense thereof, with counsel reasonably satisfactory
to such indemnified person. After notice from the indemnifying person to such
indemnified person of its election to assume the defense thereof (unless it has
failed to assume the defense thereof and appoint counsel reasonably satisfactory
to the indemnified party), such indemnifying person shall not be liable to such
indemnified person for any legal expenses subsequently incurred by such
indemnified person in connection with the defense thereof; provided, however,
that if there exists or shall exist a conflict of interest that would make it
inappropriate, in the reasonable opinion of counsel to the indemnified person,
for the same counsel to represent both the indemnified person and such
indemnifying person or any affiliate or associate thereof, the indemnified
person shall be entitled to retain its own counsel at the expense of such
indemnifying person; provided, however, that no indemnifying person shall be
responsible for the fees and expenses of more than one separate counsel
(together with appropriate local counsel) for all indemnified parties. In no
event shall any indemnifying person be liable in respect of any amounts paid in
settlement of any action unless the indemnifying person shall have approved the
terms of such settlement; provided that such consent shall not be unreasonably

Registration Rights Agreement                                       Page 5 of 10

<PAGE>

withheld. No indemnifying person shall, without the prior written consent of the
indemnified person, effect any settlement of any pending or threatened
proceeding in respect of which any indemnified person is or could reasonably
have been a party and indemnification could have been sought hereunder by such
indemnified person, unless such settlement includes an unconditional release of
such indemnified person from all liability on claims that are the subject matter
of such proceeding.

                                    (iv) If the indemnification provided for in
this Section 3 is unavailable to or insufficient to hold harmless an indemnified
party under paragraphs 3(d)(i) or 3(d)(ii) above in respect of any loss or
damage (or actions or proceedings in respect thereof) referred to therein, then
each indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such loss or damage (or actions in respect
thereof) in such proportion as is appropriate to reflect the relative fault of
the Company on the one hand and the Investor on the other in connection with the
statements or omissions or other matters which resulted in such loss or damage
(or actions in respect thereof), as well as any other relevant equitable
considerations. The relative fault shall be determined by reference to, among
other things, in the case of an untrue statement, whether the untrue statement
relates to information supplied by the Company on the one hand or the Investor
on the other and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such untrue statement. The Company and the
Investor agree that it would not be just and equitable if contribution pursuant
to this subsection (d) were determined by pro rata allocation (even if the
Investors were treated as one entity for such purpose) or by any other method of
allocation which does not take into account the equitable considerations
referred to above in this subsection (d). The amount paid or payable by an
indemnified party as a result of the loss or damage (or actions in respect
thereof) referred to above in this subsection (d) shall be deemed to include any
reasonable legal fees incurred by such indemnified party in connection with
defending any such action or claim. Notwithstanding the provisions of this
subsection (d), the Investor shall not be required to contribute any amount in
excess of the amount by which the gross amount received by the Investor from the
sale of the Shares to which such loss relates exceeds the amount of any damages
which the Investor has otherwise been required to pay by reason of such untrue
statement. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. The
Investors' obligations in this subsection to contribute are several in
proportion to their sales of Shares to which such loss relates and not joint.

                           (e) The parties to this Agreement hereby acknowledge
that they are sophisticated business persons who were represented by counsel
during the negotiations regarding the provisions hereof including, without
limitation, the provisions of this Section 3, and are fully informed regarding
said provisions. They further acknowledge that the provisions of this Section 3
fairly allocate the risks in light of the ability of the parties to investigate
the Company and its business in order to assure that adequate disclosure is made
in the Registration Statement as required by the Securities Act and the Exchange
Act.

         4. Additonal Piggyback Registration Rights.

                           (a) At any time within two (2) years following the
Effective Date, unless the registration statement pursuant to Section 1 above is
filed, if the Company proposes to register any Common Stock for its own or
others' account under the Securities Act of 1933, (other than the registration
required by Section 1 above) (an "Alternative Registration"), then the Company
shall give each Investor prompt written notice of its intent to register such
securities (the "Registration Notice") at least thirty (30) days prior to the
filing of the Alternative Registration statement with the SEC. The Registration
Notice shall specify the approximate date on which the Company proposes to file
such Alternative Registration statement and shall contain a statement that each
Investor is entitled to participate in such Alternative Registration, and shall
set forth the number of shares of Common Stock that may be registered as a part

Registration Rights Agreement                                       Page 6 of 10

<PAGE>

of the Alternative Registration. Each Investor desiring to participate in such
Alternative Registration shall notify the Company no later than twenty (20) days
following receipt of the Registration Notice of the aggregate number of shares
of Common Stock that such Investor then desires to sell in the offering. This
piggy back registration provision shall be merely supplemental to, and shall not
in any way otherwise diminish, the obligation to file the registration statement
described in Section 1 above.

         5. TERMINATION OF CONDITIONS AND OBLIGATIONS. The conditions precedent
imposed by Section 4 of the Securities Purchase Agreement or this Agreement upon
the transferability of the Shares shall cease and terminate as to any particular
number of the Shares when such Shares shall have been effectively registered
under the Securities Act and sold or otherwise disposed of in accordance with
the intended method of disposition set forth in the Registration Statement
covering such Shares or at such time as an opinion of counsel satisfactory to
the Company shall have been rendered to the effect that such conditions are not
necessary in order to comply with the Securities Act.

         6. INFORMATION AVAILABLE. So long as the Registration Statement is
effective covering the resale of Shares owned by the Investor, the Company will
furnish (or, to the extent such information is available electronically through
the Company's filings with the SEC, the Company will make available) to the
Investor:

                           (a) as soon as practicable after it is available, one
copy of (i) its Annual Report to Shareholders (which Annual Report shall contain
financial statements audited in accordance with generally accepted accounting
principles by a national firm of certified public accountants) and (ii) if not
included in substance in the Annual Report to Shareholders, its Annual Report on
Form 10-K (the foregoing, in each case, excluding exhibits); and,

                           (b) upon the reasonable request of the Investor, an
adequate number of copies of the Prospectuses to supply to any other party
requiring such Prospectuses either in printed or electronic form.

         7. LIMITS ON ADDITIONAL ISSUANCES. Except for the issuance of stock
options under the Company's stock option plan, the issuance of warrants to
purchase the Company's common stock, or the issuance of common stock under the
Company's employee stock purchase plan or upon exercise of outstanding options
and warrants and the offering contemplated hereby, the Company will not, for a
period of three (3) months following the Closing Date, offer for sale or sell
any securities unless, in the opinion of the Company's counsel, such offer or
sale does not jeopardize the availability of exemptions from the registration
and qualification requirements under applicable securities laws with respect to
the Offering. The foregoing shall not apply to securities issued in connection
with any acquisition, including by way of merger, or purchase of stock or all or
substantially all of the assets of any third party. The foregoing provisions
shall not prevent the Company from filing a "shelf" registration statement
pursuant to Rule 415 under the Securities Act, but the foregoing provisions
shall apply to any sale of securities thereunder.

         8. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to
such carrier, (iv) if delivered by facsimile, upon electric confirmation of

Registration Rights Agreement                                       Page 7 of 10

<PAGE>

receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                           (a)      if to the Company, to:

                                    iLinc Communications, Inc.
                                    2999 North 44th Street, Suite 650
                                    Phoenix, AZ  85018
                                    Attention:  James L. Dunn, Jr.
                                                General Counsel
                                    Telephone:  602-952-1200

                                    with a copy to:

                                    Jackson Walker, LLP
                                    901 Main Street, Suite 6000
                                    Dallas, TX  75202
                                    Attention:  James Ryan III
                                    Telephone:  (214) 953-6000

                           (b) if to the Investor, at its address on the
signature page to the Stock Purchase Agreement.

         9. AMENDMENTS; WAIVER. This Agreement may not be modified or amended
except pursuant to an instrument in writing signed by the Company and the
Investor. Any waiver of a provision of this Agreement must be in writing and
executed by the party against whom enforcement of such waiver is sought.

         10. HEADINGS. The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

         11. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the
entire agreement and understanding of the parties relating to the subject matter
hereof and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

         12. GOVERNING LAW. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law.

         13. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Registration Rights Agreement                                       Page 8 of 10

<PAGE>

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                 DATED AS OF:  June 9, 2006

                                 Sophrosyne Technology Fund, Ltd.
                                 -----------------------------------------------
                                            [INVESTOR NAME]

                                 By: /s/ Benjamin James Taylor
                                     -------------------------------------------
                                     Name: Benjamin James Taylor
                                     Title: Director

                                 Address: Ogier Fiduciary Services (Cayman) Ltd.
                                          --------------------------------------
                                 Queensgate House, South Church St.
                                 -----------------------------------------------
                                 P.O. Box 1234 GT, Grand Cayman
                                 -----------------------------------------------

AGREED AND ACCEPTED:

iLinc Communications, Inc.

By: /s/ James M. Powers, Jr.
    ----------------------------------
    Name: James M. Powers, Jr.
    Title: President

Registration Rights Agreement                                       Page 9 of 10

<PAGE>

                                    EXHIBIT A

                           ILINC COMMUNICATIONS, INC.
                         CERTIFICATE OF SUBSEQUENT SALE

[Transfer Agent]

______________________________
______________________________

         RE:      Sale of Shares of Common Stock of iLinc Communications, Inc.
                  (the "Company") pursuant to the Company's Prospectus dated
                  _______________, 2005 (the "Prospectus")

Dear Sir/Madam:

         The undersigned hereby certifies, in connection with the sale of shares
of Common Stock of the Company included in the table of Selling Shareholders in
the Prospectus, that the undersigned has sold the Shares pursuant to the
Prospectus and in a manner described under the caption "Plan of Distribution" in
the Prospectus and that such sale complies with all applicable securities laws,
including, without limitation, the Prospectus delivery requirements of the
Securities Act of 1933, as amended.

         Selling Shareholder (the beneficial owner): ___________________________

         Record Holder (e.g., if held in name of nominee): _____________________

         Restricted Stock Certificate No.(s): __________________________________

         Number of Shares Sold: ________________________________________________

         Date of Sale: _________________________________________________________

         In the event that you receive a stock certificate(s) representing more
shares of Common Stock than have been sold by the undersigned, then you should
return to the undersigned a newly issued certificate for such excess shares in
the name of the Record Holder and BEARING A RESTRICTIVE LEGEND. Further, you
should place a stop transfer on your records with regard to such certificate.

Dated: ______________________              Very truly yours,

                                           By: _________________________________

                                           Print Name: _________________________

                                           Title: ______________________________

                                      A-1

Registration Rights Agreement                                      Page 10 of 10

<PAGE>

                          REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (the "Agreement") is made as of the date set
forth below (the "Effective Date") between iLinc Communications, Inc., a
Delaware corporation (the "COMPANY"), and the purchasers of its Common Stock (as
defined below) pursuant to a Securities Purchase Agreement dated as of the date
hereof (each in "Investor" and, collectively, the "Investors"). Capitalized
terms used and not defined herein shall have the respective meanings ascribed to
them in the Securities Purchase Agreement.

                                    RECITALS

         WHEREAS, the Company has sold 5,405,405 shares (the "SHARES") of its
common stock, $0.001 par value per share, (the "COMMON STOCK"), to certain
investors in a private placement (the "OFFERING"); and

         WHEREAS, the execution and delivery of this Agreement by the Company is
a condition to the completion of the Offering.

                  NOW, THEREFORE, the parties hereto agree as follows:

         1. REGISTRATION PROCEDURES AND EXPENSES. The Company shall:

                           (a) subject to receipt of necessary information from
the Investors, prepare and file with the Securities and Exchange Commission
("SEC"), within thirty (30) days after the Closing Date (the "REQUIRED FILING
DATE"), a Registration Statement on Form S-3 to enable the resale of the Shares
by the Investors from time to time;

                           (b) subject to receipt of necessary information from
the Investors, to cause the Registration Statement to become effective as soon
as practicable, but in no event later than ninety (90) days after the Required
Filing Date (the "REQUIRED EFFECTIVE DATE"). If the Registration Statement (i)
has not been filed by the Required Filing Date or (ii) has not been declared
effective by the SEC on or before the Required Effective Date, then the Company
shall, immediately following the Required Filing Date (if not then so filed) and
the Required Effective Date (if not then so effective), and on each 30th day
anniversary thereafter, make a payment to the Investor as compensation for such
delay (the "LATE REGISTRATION PAYMENTS") an amount equal to one percent (1%) of
the Purchase Price paid for the Shares purchased by the Investor, until the
Registration Statement is filed or declared effective by the SEC.
Notwithstanding the foregoing, in no event shall the total of all Late
Registration Payments exceed in the aggregate ten percent (10%) of such Purchase
Price. Late Registration Payments, if any, will be prorated on a daily basis and
will be paid to Investor by wire transfer or check within five (5) Business Days
after the date that each payment is due;

                           (c) prepare and file with the SEC such amendments and
supplements to the Registration Statement and the Prospectus as may be necessary
to keep the Registration Statement current and effective for a period ending on
the earlier of (i) the second anniversary of the Closing Date, (ii) the date on
which the Investor may sell Shares pursuant to paragraph (k) of Rule 144 under
the Securities Act or any successor rule ("RULE 144") or (iii) such time as all
Shares purchased by such Investor in this Offering have been sold pursuant to a
registration statement or Rule 144, and to notify each Investor promptly upon
the Registration Statement and each post-effective amendment thereto, being
declared effective by the SEC;

Registration Rights Agreement                                       Page 1 of 10

<PAGE>

                           (d) furnish to the Investor such number of copies (in
paper or electronic version) of the Registration Statement and the Prospectus
(including supplemental prospectuses), as the Investor may reasonably request,
in order to facilitate the public sale or other disposition of all or any of the
Shares by the Investor;

                           (e) file documents required of the Company for normal
blue sky clearance in states specified in writing by the Investor; provided,
however, that the Company shall not be required to qualify to do business or
consent to service of process in any jurisdiction in which it is not now so
qualified or has not so consented;

                           (f) bear all expenses (other than underwriting
discounts and commissions, if any) in connection with the procedures in
paragraph (a) through (e) of this Section 1 and the registration of the Shares
pursuant to the Registration Statement;

                           (g) advise the Investors, promptly after it shall
receive notice or obtain knowledge of the issuance of any stop order by the SEC
delaying or suspending the effectiveness of the Registration Statement or of the
initiation of any proceeding for that purpose; and it will promptly use its
commercially reasonable efforts to prevent the issuance of any stop order or to
obtain its withdrawal at the earliest possible moment if such stop order should
be issued; and

                           (h) with a view to making available to the Investor
the benefits of Rule 144 or other rule that may permit the Investor to sell
Shares without registration, the Company agrees to use its commercially
reasonable efforts to: (i) make and keep public information available, as those
terms are understood and defined in Rule 144, until the earlier of (A) such date
as all of the Investor's Shares may be resold pursuant to Rule 144(k) or (B)
such date as all of the Investor's Shares shall have been sold; (ii) file with
the SEC in a timely manner all reports and other documents required of the
Company under the Securities Act and under the Exchange Act; and (iii) furnish
to the Investor upon request a written statement that the Company has complied
with the reporting requirements of the Securities Act and the Exchange Act, a
copy (in paper or electronic version) of the Company's most recent Annual Report
on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as
may be reasonably requested that permits the selling of any such Shares without
registration.

         It shall be a condition precedent to the obligations of the Company to
take any action pursuant to this Section 1 that the Investor shall furnish to
the Company such information and representations regarding Investor, the Shares
to be sold by Investor, and the intended method of disposition of such
securities as shall be required to effect the registration of the Shares and/or
sale under Rule 144.

         The Company understands that the Investor disclaims being an
underwriter, but acknowledges that a determination by the SEC that the Investor
is deemed an underwriter shall not relieve the Company of any obligations it has
hereunder.

         2. TRANSFER OF SHARES AFTER REGISTRATION; SUSPENSION.

                           (a) The Investor agrees that it will not effect any
disposition or other transfer of the Shares or its right to purchase the Shares
that would constitute a sale within the meaning of the Securities Act other than
transactions exempt from the registration requirements of the Securities Act, as
contemplated in the Registration Statement and as described below, and that it
will promptly notify the Company of any material changes in the information set
forth in the Registration Statement regarding the Investor or its plan of
distribution.

Registration Rights Agreement                                       Page 2 of 10

<PAGE>

                           (b) Except in the event that paragraph (c) below
applies, the Company shall: (i) if deemed necessary by the Company, prepare and
file from time to time with the SEC a post-effective amendment to the
Registration Statement or a supplement to the related Prospectus or a supplement
or amendment to any document incorporated therein by reference or file any other
required document so that such Registration Statement will not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
so that, as thereafter delivered to purchasers of the Shares being sold
thereunder, such Prospectus will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they
were made, not misleading; (ii) provide the Investor with either copies of any
documents filed pursuant to Section 2(b)(i) or access to such documents
electronically; and (iii) upon request, inform each Investor who so requests
that the Company has complied with its obligations in Section 2(b)(i) (or that,
if the Company has filed a post-effective amendment to the Registration
Statement which has not yet been declared effective, the Company will notify the
Investor to that effect, will use its best efforts to secure the effectiveness
of such post-effective amendment as promptly as possible and will promptly
notify the Investor pursuant to Section 2(b)(i) hereof when the amendment has
become effective).

                           (c) Subject to paragraph (d) below, in the event: (i)
of any request by the SEC or any other federal or state governmental authority
during the period of effectiveness of the Registration Statement for amendments
or supplements to the Registration Statement or related Prospectus or for
additional information; (ii) of the issuance by the SEC or any other federal or
state governmental authority of any stop order suspending the effectiveness of
the Registration Statement or the initiation of any proceedings for that
purpose; (iii) of the receipt by the Company of any notification with respect to
the suspension of the qualification or exemption from qualification of any of
the Shares for sale in any jurisdiction or the initiation of any proceeding for
such purpose; or (iv) of any event or circumstance which necessitates the making
of any material changes in the Registration Statement or Prospectus, or any
document incorporated or deemed to be incorporated therein by reference, so
that, in the case of the Registration Statement, it will not contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
that in the case of the Prospectus, it will not contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; then the Company shall promptly
deliver a certificate in writing or electronically to the Investor (the
"SUSPENSION NOTICE") to the effect of the foregoing and, upon receipt of such
Suspension Notice, the Investor will refrain from selling any Shares pursuant to
the Registration Statement (a "SUSPENSION") until the Investors are advised in
writing by the Company that the current Prospectus may be used, and has received
copies of any additional or supplemental filings that are incorporated or deemed
incorporated by reference in any such Prospectus. In the event of any
Suspension, the Company will use its reasonable best efforts to cause the use of
the Prospectus so suspended to be resumed as soon as reasonably practicable
after delivery of a Suspension Notice to the Investors. In addition to and
without limiting any other remedies (including, without limitation, at law or at
equity) available to the Investor, the Investor shall be entitled to specific
performance in the event that the Company fails to comply with the provisions of
this Section 2(c). The Investor covenants that from the date hereof it will
maintain in confidence the receipt and content of any Suspension Notice provided
in accordance with this paragraph (c) in accordance with and subject to Section
4.6 of Annex I to the Securities Purchase Agreement.

                           (d) If a Suspension is not then in effect, the
Investor may sell Shares under the Registration Statement, provided that it
complies with any applicable prospectus delivery requirements. Upon receipt of a
request therefor, the Company will provide an adequate number of current
Prospectuses to the Investor and to any other parties requiring such
Prospectuses.

Registration Rights Agreement                                       Page 3 of 10

<PAGE>

                           (e) In the event of a sale of Shares by the Investor,
unless such requirement is waived by the Company in writing, the Investor must
also deliver to the Company's transfer agent, with a copy to the Company, a
Certificate of Subsequent Sale substantially in the form attached hereto as
Exhibit A, so that the Shares may be properly transferred.

                           (f) The Company agrees that it shall, immediately
prior to the Registration Statement being declared effective, deliver to its
transfer agent an opinion letter of counsel, opining that at any time the
Registration Statement is effective, the transfer agent shall issue, in
connection with the sale of the Shares, certificates representing such Shares
without restrictive legend, provided the Shares are to be sold pursuant to the
Prospectus contained in the Registration Statement and the transfer agent
receives a Certificate of Subsequent Sale in the form attached hereto as Exhibit
"A." Upon receipt of such opinion, the Company shall cause the transfer agent to
confirm, for the benefit of the Investor, that no further opinion of counsel is
required at the time of transfer in order to issue such Shares without
restrictive legend.

The Company shall cause its transfer agent to issue a certificate without any
restrictive legend to a purchaser of any Shares from the Investor at Investor's
expense and upon request of Investor, if (a) the sale of such Shares is
registered under the Registration Statement (including registration pursuant to
Rule 415 under the Securities Act) and the Investor has delivered a Certificate
of Subsequent Sale to the Transfer Agent; (b) the holder has provided the
Company with an opinion of counsel, in form, substance and scope customary for
opinions of counsel in comparable transactions, to the effect that a public sale
or transfer of such Shares may be made without registration under the Securities
Act; or (c) such Shares are sold in compliance with Rule 144 under the
Securities Act. In addition, the Company shall, at the Investors expense and
upon request of the Investor, remove the restrictive legend from any Shares held
by the Investor following the expiration of the holding period required by Rule
144(k) under the Securities Act (or any successor rule).

         3. INDEMNIFICATION. For the purpose of this Section 3:

                           (a) the term "SELLING SHAREHOLDER" shall mean the
Investor and each person, if any, who controls the Investor within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act;

                           (b) the term "REGISTRATION STATEMENT" shall mean the
final Prospectus, supplement or amendment thereto (or deemed to be a part
thereof) referred to in Section 1; and

                           (c) the term "UNTRUE STATEMENT" shall mean any
material untrue statement, or any material omission of a statement of a material
fact required to be made therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not materially
misleading.

                           (d) (i) The Company agrees to indemnify and hold
harmless each Selling Shareholder from and against any losses, or damages to
which such Selling Shareholder may incur (under the Securities Act or otherwise)
insofar as such losses or damages arise out of (i) any untrue statement of a
material fact contained in the Registration Statement, or (ii) any inaccuracy in
the representations of the Company contained in this Agreement. The Company will
reimburse such Selling Shareholder for any reasonable legal expense incurred or
any out of pocket expenses reasonably incurred in defending any such claim or
action; provided, however, that the Company shall not be liable in any such case

Registration Rights Agreement                                       Page 4 of 10

<PAGE>

to the extent that such loss or damage arises out of, or is based upon, an
untrue statement made in such Registration Statement in reliance upon and in
conformity with written information furnished to the Company by or on behalf of
such Selling Shareholder for use in preparation of the Registration Statement,
or any inaccuracy in representations made by such Selling Shareholder in the
Investor Questionnaire or the failure of such Selling Shareholder to comply with
its covenants and agreements contained in Sections in this Agreement or
contained in the Securities Purchase Agreement or any statement or omission in
any Prospectus that is corrected in any subsequent Prospectus that was delivered
to the Selling Shareholder prior to the pertinent sale or sales by the Selling
Shareholder. The obligation to indemnify shall be limited to the net amount of
the proceeds received by the Company from the Investor as a result of the
Offering.

                                    (ii) The Investor agrees to indemnify and
hold harmless the Company (and each person, if any, who controls the Company
within the meaning of Section 15 of the Securities Act, each officer of the
Company who signs the Registration Statement and each director of the Company)
from and against any losses or damage to which the Company (or any such officer,
director or controlling person) may become subject (under the Securities Act or
otherwise), insofar as such loss or damage (or actions or proceedings in respect
thereof) arise out of, or are based upon, (i) any failure to comply with the
covenants and agreements contained in this Agreement or of the Securities
Purchase Agreement or (ii) any untrue statement of a material fact contained in
the Registration Statement if, and only if, such untrue statement was made in
reliance upon and in conformity with written information furnished by or on
behalf of the Investor specifically for use in preparation of the Registration
Statement. The Investor will reimburse the Company (or such officer, director or
controlling person), as the case may be, for any reasonable legal expense or
other actual accountable out-of-pocket expenses reasonably incurred in defending
any such claim, action or proceeding. The obligation to indemnify shall be
limited to the net amount of the proceeds received by the Investor from the sale
of the Shares pursuant to the Registration Statement.

                                    (iii) Promptly after receipt by any
indemnified person of a notice of a claim or the beginning of any action in
respect of which indemnity is to be sought against an indemnifying person
pursuant to this Section 3, such indemnified person shall notify the
indemnifying person in writing of such claim or of the commencement of such
action, but the omission to so notify the indemnifying party will not relieve it
from any liability which it may have to any indemnified party under this Section
3 (except to the extent that such omission materially and adversely affects the
indemnifying party's ability to defend such action) or from any liability
otherwise than under this Section 3. Subject to the provisions hereinafter
stated, in case any such action shall be brought against an indemnified person,
the indemnifying person shall be entitled to participate therein, and, to the
extent that it shall elect by written notice delivered to the indemnified party
promptly after receiving the aforesaid notice from such indemnified party, shall
be entitled to assume the defense thereof, with counsel reasonably satisfactory
to such indemnified person. After notice from the indemnifying person to such
indemnified person of its election to assume the defense thereof (unless it has
failed to assume the defense thereof and appoint counsel reasonably satisfactory
to the indemnified party), such indemnifying person shall not be liable to such
indemnified person for any legal expenses subsequently incurred by such
indemnified person in connection with the defense thereof; provided, however,
that if there exists or shall exist a conflict of interest that would make it
inappropriate, in the reasonable opinion of counsel to the indemnified person,
for the same counsel to represent both the indemnified person and such
indemnifying person or any affiliate or associate thereof, the indemnified
person shall be entitled to retain its own counsel at the expense of such
indemnifying person; provided, however, that no indemnifying person shall be
responsible for the fees and expenses of more than one separate counsel
(together with appropriate local counsel) for all indemnified parties. In no
event shall any indemnifying person be liable in respect of any amounts paid in
settlement of any action unless the indemnifying person shall have approved the
terms of such settlement; provided that such consent shall not be unreasonably

Registration Rights Agreement                                       Page 5 of 10

<PAGE>

withheld. No indemnifying person shall, without the prior written consent of the
indemnified person, effect any settlement of any pending or threatened
proceeding in respect of which any indemnified person is or could reasonably
have been a party and indemnification could have been sought hereunder by such
indemnified person, unless such settlement includes an unconditional release of
such indemnified person from all liability on claims that are the subject matter
of such proceeding.

                                    (iv) If the indemnification provided for in
this Section 3 is unavailable to or insufficient to hold harmless an indemnified
party under paragraphs 3(d)(i) or 3(d)(ii) above in respect of any loss or
damage (or actions or proceedings in respect thereof) referred to therein, then
each indemnifying party shall contribute to the amount paid or payable by such
indemnified party as a result of such loss or damage (or actions in respect
thereof) in such proportion as is appropriate to reflect the relative fault of
the Company on the one hand and the Investor on the other in connection with the
statements or omissions or other matters which resulted in such loss or damage
(or actions in respect thereof), as well as any other relevant equitable
considerations. The relative fault shall be determined by reference to, among
other things, in the case of an untrue statement, whether the untrue statement
relates to information supplied by the Company on the one hand or the Investor
on the other and the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent such untrue statement. The Company and the
Investor agree that it would not be just and equitable if contribution pursuant
to this subsection (d) were determined by pro rata allocation (even if the
Investors were treated as one entity for such purpose) or by any other method of
allocation which does not take into account the equitable considerations
referred to above in this subsection (d). The amount paid or payable by an
indemnified party as a result of the loss or damage (or actions in respect
thereof) referred to above in this subsection (d) shall be deemed to include any
reasonable legal fees incurred by such indemnified party in connection with
defending any such action or claim. Notwithstanding the provisions of this
subsection (d), the Investor shall not be required to contribute any amount in
excess of the amount by which the gross amount received by the Investor from the
sale of the Shares to which such loss relates exceeds the amount of any damages
which the Investor has otherwise been required to pay by reason of such untrue
statement. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. The
Investors' obligations in this subsection to contribute are several in
proportion to their sales of Shares to which such loss relates and not joint.

                           (e) The parties to this Agreement hereby acknowledge
that they are sophisticated business persons who were represented by counsel
during the negotiations regarding the provisions hereof including, without
limitation, the provisions of this Section 3, and are fully informed regarding
said provisions. They further acknowledge that the provisions of this Section 3
fairly allocate the risks in light of the ability of the parties to investigate
the Company and its business in order to assure that adequate disclosure is made
in the Registration Statement as required by the Securities Act and the Exchange
Act.

         4. Additonal Piggyback Registration Rights.

                           (a) At any time within two (2) years following the
Effective Date, unless the registration statement pursuant to Section 1 above is
filed, if the Company proposes to register any Common Stock for its own or
others' account under the Securities Act of 1933, (other than the registration
required by Section 1 above) (an "Alternative Registration"), then the Company
shall give each Investor prompt written notice of its intent to register such
securities (the "Registration Notice") at least thirty (30) days prior to the
filing of the Alternative Registration statement with the SEC. The Registration
Notice shall specify the approximate date on which the Company proposes to file
such Alternative Registration statement and shall contain a statement that each
Investor is entitled to participate in such Alternative Registration, and shall
set forth the number of shares of Common Stock that may be registered as a part

Registration Rights Agreement                                       Page 6 of 10

<PAGE>

of the Alternative Registration. Each Investor desiring to participate in such
Alternative Registration shall notify the Company no later than twenty (20) days
following receipt of the Registration Notice of the aggregate number of shares
of Common Stock that such Investor then desires to sell in the offering. This
piggy back registration provision shall be merely supplemental to, and shall not
in any way otherwise diminish, the obligation to file the registration statement
described in Section 1 above.

         5. TERMINATION OF CONDITIONS AND OBLIGATIONS. The conditions precedent
imposed by Section 4 of the Securities Purchase Agreement or this Agreement upon
the transferability of the Shares shall cease and terminate as to any particular
number of the Shares when such Shares shall have been effectively registered
under the Securities Act and sold or otherwise disposed of in accordance with
the intended method of disposition set forth in the Registration Statement
covering such Shares or at such time as an opinion of counsel satisfactory to
the Company shall have been rendered to the effect that such conditions are not
necessary in order to comply with the Securities Act.

         6. INFORMATION AVAILABLE. So long as the Registration Statement is
effective covering the resale of Shares owned by the Investor, the Company will
furnish (or, to the extent such information is available electronically through
the Company's filings with the SEC, the Company will make available) to the
Investor:

                           (a) as soon as practicable after it is available, one
copy of (i) its Annual Report to Shareholders (which Annual Report shall contain
financial statements audited in accordance with generally accepted accounting
principles by a national firm of certified public accountants) and (ii) if not
included in substance in the Annual Report to Shareholders, its Annual Report on
Form 10-K (the foregoing, in each case, excluding exhibits); and,

                           (b) upon the reasonable request of the Investor, an
adequate number of copies of the Prospectuses to supply to any other party
requiring such Prospectuses either in printed or electronic form.

         7. LIMITS ON ADDITIONAL ISSUANCES. Except for the issuance of stock
options under the Company's stock option plan, the issuance of warrants to
purchase the Company's common stock, or the issuance of common stock under the
Company's employee stock purchase plan or upon exercise of outstanding options
and warrants and the offering contemplated hereby, the Company will not, for a
period of three (3) months following the Closing Date, offer for sale or sell
any securities unless, in the opinion of the Company's counsel, such offer or
sale does not jeopardize the availability of exemptions from the registration
and qualification requirements under applicable securities laws with respect to
the Offering. The foregoing shall not apply to securities issued in connection
with any acquisition, including by way of merger, or purchase of stock or all or
substantially all of the assets of any third party. The foregoing provisions
shall not prevent the Company from filing a "shelf" registration statement
pursuant to Rule 415 under the Securities Act, but the foregoing provisions
shall apply to any sale of securities thereunder.

         8. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be delivered (A) if within the United
States, by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if from
outside the United States, by International Federal Express (or comparable
service) or facsimile, and shall be deemed given (i) if delivered by first-class
registered or certified mail domestic, upon the Business Day received, (ii) if
delivered by nationally recognized overnight carrier, one (1) Business Day after
timely delivery to such carrier, (iii) if delivered by International Federal
Express (or comparable service), two (2) Business Days after timely delivery to
such carrier, (iv) if delivered by facsimile, upon electric confirmation of

Registration Rights Agreement                                       Page 7 of 10

<PAGE>

receipt and shall be addressed as follows, or to such other address or addresses
as may have been furnished in writing by a party to another party pursuant to
this paragraph:

                           (a)      if to the Company, to:

                                    iLinc Communications, Inc.
                                    2999 North 44th Street, Suite 650
                                    Phoenix, AZ  85018
                                    Attention:  James L. Dunn, Jr.
                                                General Counsel
                                    Telephone:  602-952-1200

                                    with a copy to:

                                    Jackson Walker, LLP
                                    901 Main Street, Suite 6000
                                    Dallas, TX  75202
                                    Attention:  James Ryan III
                                    Telephone:  (214) 953-6000

                           (b) if to the Investor, at its address on the
signature page to the Stock Purchase Agreement.

         9. AMENDMENTS; WAIVER. This Agreement may not be modified or amended
except pursuant to an instrument in writing signed by the Company and the
Investor. Any waiver of a provision of this Agreement must be in writing and
executed by the party against whom enforcement of such waiver is sought.

         10. HEADINGS. The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

         11. ENTIRE AGREEMENT; SEVERABILITY. This Agreement sets forth the
entire agreement and understanding of the parties relating to the subject matter
hereof and supersedes all prior and contemporaneous agreements, negotiations and
understandings between the parties, both oral and written relating to the
subject matter hereof. If any provision contained in this Agreement is
determined to be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

         12. GOVERNING LAW. This Agreement shall be governed by, and construed
in accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law.

         13. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

Registration Rights Agreement                                       Page 8 of 10

<PAGE>

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                      DATED AS OF:  June 9, 2006

                                      Benjamin James Taylor and Diane Wong Shoda
                                      ------------------------------------------
                                                  [INVESTOR NAME]

                                      By: /s/ Benjamin James Taylor
                                          --------------------------------------
                                          Name: Benjamin James Taylor

                                      By: /s/ Diane Wong Shoda
                                          --------------------------------------
                                          Name: Diane Wong Shoda

                                      Address: 54 E. Allendale Avenue
                                               --------------------------------
                                      Allendale, NJ 07401
                                      -----------------------------------------

AGREED AND ACCEPTED:

iLinc Communications, Inc.

By: /s/ James M. Powers, Jr.
    ----------------------------------
    Name: James M. Powers, Jr.
    Title: President

Registration Rights Agreement                                       Page 9 of 10

<PAGE>

                                    EXHIBIT A

                           ILINC COMMUNICATIONS, INC.
                         CERTIFICATE OF SUBSEQUENT SALE

[Transfer Agent]

______________________________
______________________________

         RE:      Sale of Shares of Common Stock of iLinc Communications, Inc.
                  (the "Company") pursuant to the Company's Prospectus dated
                  _______________, 2005 (the "Prospectus")

Dear Sir/Madam:

         The undersigned hereby certifies, in connection with the sale of shares
of Common Stock of the Company included in the table of Selling Shareholders in
the Prospectus, that the undersigned has sold the Shares pursuant to the
Prospectus and in a manner described under the caption "Plan of Distribution" in
the Prospectus and that such sale complies with all applicable securities laws,
including, without limitation, the Prospectus delivery requirements of the
Securities Act of 1933, as amended.

         Selling Shareholder (the beneficial owner): ___________________________

         Record Holder (e.g., if held in name of nominee): _____________________

         Restricted Stock Certificate No.(s): __________________________________

         Number of Shares Sold: ________________________________________________

         Date of Sale: _________________________________________________________

         In the event that you receive a stock certificate(s) representing more
shares of Common Stock than have been sold by the undersigned, then you should
return to the undersigned a newly issued certificate for such excess shares in
the name of the Record Holder and BEARING A RESTRICTIVE LEGEND. Further, you
should place a stop transfer on your records with regard to such certificate.

Dated: ______________________              Very truly yours,

                                           By: _________________________________

                                           Print Name: _________________________

                                           Title: ______________________________

                                      A-1

Registration Rights Agreement                                      Page 10 of 10

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