Document:

Exhibit 4.3

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS CONVERTIBLE
HAVE  BEEN  REGISTERED  WITH  THE  SECURITIES  AND  EXCHANGE  COMMISSION  OR THE
SECURITIES   COMMISSION  OF  ANY  STATE  IN  RELIANCE  UPON  AN  EXEMPTION  FROM
REGISTRATION  UNDER THE  SECURITIES  ACT OF 1933,  AS AMENDED  (THE  "SECURITIES
ACT"),  AND,  ACCORDINGLY,  MAY NOT BE OFFERED  OR SOLD  EXCEPT  PURSUANT  TO AN
EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE  SECURITIES  ACT OR PURSUANT TO AN
AVAILABLE  EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE  REGISTRATION
REQUIREMENTS  OF THE  SECURITIES  ACT AND IN ACCORDANCE  WITH  APPLICABLE  STATE
SECURITIES  LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH  EFFECT,  THE  SUBSTANCE  OF WHICH SHALL BE  REASONABLY  ACCEPTABLE  TO THE
COMPANY.  THIS  SECURITY AND THE  SECURITIES  ISSUABLE  UPON  CONVERSION OF THIS
SECURITY MAY BE PLEDGED IN CONNECTION  WITH A BONA FIDE MARGIN  ACCOUNT OR OTHER
LOAN SECURED BY SUCH SECURITIES.

                                  KNOBIAS, INC.

                         8% CONVERTIBLE PROMISSORY NOTE

$75,000.00                                                        April 22, 2005
                                                          Ridgeland, Mississippi

      FOR VALUE RECEIVED, Knobias, Inc., a Delaware corporation (the "Company"),
hereby  promises to pay to Bridges & PIPES,  LLC, a Delaware  limited  liability
company (the  "Holder"),  the  principal sum of SEVENTY FIVE THOUSAND and NO/100
DOLLARS ($75,000.00), together with interest thereon from the date hereof on the
unpaid balance of such principal amount.  Interest shall accrue and be deemed to
have accrued from the date hereof on the unpaid principal amount at a rate equal
to eight percent (8%) per annum.

      This Note is subject to the following terms and conditions.

      1. Maturity. This Note will automatically mature and be due and payable in
full on the first to occur of (a) the  completion  of  additional  financing  in
which the Company  realizes at least  $1,500,000 in gross proceeds,  or (b) that
date which is four (4) months immediately following the date of this Note.

      Anything  contained  herein to the  contrary  notwithstanding,  all unpaid
principal  sum(s) of this  Note,  together  with  accrued  and  unpaid  interest
thereon,  shall  become  immediately  due and  payable in full  without  notice,
demand, presentment,  protest or other formalities of any kind (all of which are
hereby expressly waived by the Company) upon the insolvency of the Company,  the
commission of any act of bankruptcy by the Company, the execution by the Company
of a general  assignment for the benefit of creditors,  the filing by or against
the Company of a petition in  bankruptcy  or any  petition  for relief under the
federal  bankruptcy act or the continuation of such petition  without  dismissal
for a period of sixty (60) days or more,  or the  appointment  of a receiver  or
trustee to take possession of the property or assets of the Company.
<PAGE>

      2. Payment and Interest. All payments shall be made in lawful money of the
United  States of America  at such  place as the Holder  hereof may from time to
time designate in writing to the Company. Payment shall be credited first to the
accrued  interest then due and payable and the  remainder  applied to principal.
Prepayment  of this Note may be made at any time  without  penalty.  The Company
shall  pay  interest  to  the  Holder  on the  aggregate  unconverted  and  then
outstanding  principal amount of this Note at the rate of 8% per annum, payable,
upon Maturity pursuant to Section 1 hereof, in cash.

      3. Default. Failure to make any payment, whether of principal or interest,
after such amount becomes due shall constitute a default ("Event of Default") by
the Company. If an Event of Default shall occur, then, notwithstanding any other
agreement  now or hereafter  existing,  all  principal and interest on this Note
shall become  immediately due and payable without notice,  presentation,  demand
for payment or protest,  all of which are hereby expressly  waived.  The Company
covenants  and agrees to advise the Holder,  in  writing,  of the  happening  or
occurrence of any Event of Default.

      4. Conversion.

            (a)  Voluntary  Conversion.  At any time after the date hereof until
this Note is no longer  outstanding,  this Note shall be convertible into shares
of the Company's  common stock,  $0.01 par value per share (the "Common Stock"),
at the  option of the  Holder,  in whole or in part at any time and from time to
time  (subject  to the  limitations  on  conversion  set forth in  Section  4(c)
hereof).  The Holder shall effect  conversions  by delivering to the Company the
form  of  Notice  of  Conversion   attached   hereto  as  Annex  A  ("Notice  of
Conversion"),  specifying  therein  the  principal  amount  of  the  Note  to be
converted and the date on which such  conversion is to be effected  ("Conversion
Date").  If no  Conversion  Date is  specified  in a Notice of  Conversion,  the
Conversion  Date shall be the date that such  Notice of  Conversion  is provided
hereunder. To effect conversions hereunder,  the Holder shall not be required to
physically  surrender the Note to the Company unless the entire principal amount
of this Note plus all accrued and unpaid interest thereon has been so converted.
Conversions  hereunder  shall  have  the  effect  of  lowering  the  outstanding
principal  amount of this Note in an amount equal to the applicable  conversion.
The Holder and the Company shall maintain  records showing the principal  amount
converted  and the date of such  conversions.  The  Company  shall  deliver  any
objection to any Notice of Conversion  within three (3) Business Days of receipt
of such notice.  In the event of any dispute or discrepancy,  the records of the
Holder shall be controlling and  determinative in the absence of manifest error.
The Holder and any assignee,  by acceptance of this Note,  acknowledge and agree
that, by reason of the provisions of this paragraph,  following  conversion of a
portion of this Note, the unpaid and unconverted  principal  amount of this Note
may be less than the amount stated on the face hereof. However, at the Company's
request,  the Holder  shall  surrender  the Note to the Company  within five (5)
Trading Days  following  such request so that a new Note  reflecting the correct
principal amount may be issued to Holder.

                                       2
<PAGE>

            (b)  Conversion  Price.  The  conversion  price  in  effect  on  any
Conversion Date shall be equal to $0.60 per share of Common Stock.

            (c) Conversion Limitations;  Holder's Restriction on Conversion. The
Company shall not effect any  conversion of this Note,  and the Holder shall not
have the right to convert any portion of this Note,  pursuant to Section 4(a) or
otherwise, to the extent that after giving effect to such conversion, the Holder
(together with the Holder's  affiliates),  as set forth on the applicable Notice
of Conversion, would beneficially own in excess of 4.99% of the number of shares
of the  Common  Stock  outstanding  immediately  after  giving  effect  to  such
conversion.  For  purposes of the  foregoing  sentence,  the number of shares of
Common Stock  beneficially  owned by the Holder and its affiliates shall include
the number of shares of Common Stock issuable upon  conversion of this Note with
respect to which the  determination  of such  sentence is being made,  but shall
exclude the number of shares of Common  Stock  which would be issuable  upon (A)
conversion  of the  remaining,  nonconverted  portion of this Note  beneficially
owned by the Holder or any of its  affiliates  and (B) exercise or conversion of
the unexercised or nonconverted  portion of any other  securities of the Company
(including,  without  limitation,  any other Notes or the Warrants) subject to a
limitation  on  conversion  or exercise  analogous to the  limitation  contained
herein beneficially owned by the Holder or any of its affiliates.  Except as set
forth in the preceding sentence,  for purposes of this Section 4(c),  beneficial
ownership shall be calculated in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended. To the extent that the limitation contained in
this section applies,  the determination of whether this Note is convertible (in
relation to other securities owned by the Holder) and of which a portion of this
Note is convertible  shall be in the sole  discretion of such Holder.  To ensure
compliance with this restriction,  the Holder will be deemed to represent to the
Company  each time it  delivers  a Notice  of  Conversion  that  such  Notice of
Conversion has not violated the restrictions set forth in this paragraph and the
Company  shall have no  obligation  to verify or confirm  the  accuracy  of such
determination.  For purposes of this Section 4(c), in determining  the number of
outstanding  shares  of  Common  Stock,  the  Holder  may rely on the  number of
outstanding shares of Common Stock as reflected in (x) the Company's most recent
Form  10-QSB  or Form  10-KSB,  as the case  may be,  (y) a more  recent  public
announcement  by the  Company  or (z) any  other  notice by the  Company  or the
Company's  Transfer  Agent  setting  forth the number of shares of Common  Stock
outstanding.  Upon the written or oral request of the Holder,  the Company shall
within  two (2)  Trading  Days  confirm  orally and in writing to the Holder the
number of shares of Common Stock then  outstanding.  In any case,  the number of
outstanding  shares of Common Stock shall be  determined  after giving effect to
the conversion or exercise of securities of the Company, including this Note, by
the  Holder  or its  affiliates  since  the  date as of  which  such  number  of
outstanding shares of Common Stock was reported.  The provisions of this Section
4(c) may be waived by the Holder upon,  at the election of the Holder,  not less
than sixty-one (61) days prior notice to the Company, and the provisions of this
Section 4(c) shall continue to apply until such sixty-first  (61st) day (or such
later date, as  determined by the Holder,  as may be specified in such notice of
waiver).

                                       3
<PAGE>

            (d) Mechanics of Conversion.

                  (i) Conversion  Shares  Issuable Upon  Conversion of Principal
Amount.  The  number  of  shares  of Common  Stock  issuable  upon a  conversion
hereunder  shall be  determined  by the  quotient  obtained by dividing  (x) the
outstanding  principal amount of this Note to be converted by (y) the Conversion
Price.

                  (ii) Delivery of Certificate Upon  Conversion.  Not later than
three (3) Trading Days after any  Conversion  Date,  the Company will deliver to
the Holder (A) a certificate or  certificates  representing  the shares issuable
upon  conversion of this Note,  which shall  contain all  necessary  restrictive
legends and trading restrictions as required by applicable law, representing the
number of shares of Common Stock being  acquired upon the conversion of the Note
and (B) a bank check in the amount of accrued and unpaid  interest.  The Company
shall,  if available and if allowed under  applicable  securities  laws, use its
best efforts to deliver any certificate or certificates required to be delivered
by the Company under this Section  electronically  through the Depository  Trust
Corporation  or another  established  clearing  corporation  performing  similar
functions.

                  (iii) Failure to Deliver  Certificates.  If in the case of any
Notice of Conversion such certificate or certificates are not delivered to or as
directed  by the  applicable  Holder  by the  third  (3rd)  Trading  Day after a
Conversion  Date,  the Holder shall be entitled by written notice to the Company
at any time before its receipt of such  certificate or certificates  thereafter,
to rescind such conversion,  in which event the Company shall immediately return
the  certificates  representing  the  principal  amount  of Notes  tendered  for
conversion.

                  (iv) Obligation  Absolute;  Partial Liquidated Damages. If the
Company  fails for any  reason to  deliver to the  Holder  such  certificate  or
certificates  pursuant to Section  4(d)(ii) by the third (3rd) Trading Day after
the  Conversion  Date,  the  Company  shall  pay to such  Holder,  in  cash,  as
liquidated  damages  and not as a penalty,  for each $1000 of  principal  amount
being  converted,  $10 per Trading Day  (increasing to $20 per Trading Day after
five (5) Trading Days after such  damages  begin to accrue) for each Trading Day
after such third (3rd) Trading Day until such  certificates  are delivered.  The
Company's  obligations to issue and deliver the shares  issuable upon conversion
of this Note in accordance with the terms hereof are absolute and unconditional,
irrespective  of any action or inaction  by the Holder to enforce the same,  any
waiver or consent  with  respect to any  provision  hereof,  the recovery of any
judgment  against any Person or any action to enforce  the same,  or any setoff,
counterclaim,  recoupment,  limitation or termination,  or any breach or alleged
breach by the Holder or any other Person of any obligation to the Company or any
violation  or alleged  violation of law by the Holder or any other  person,  and
irrespective  of  any  other  circumstance  which  might  otherwise  limit  such
obligation of the Company to the Holder in connection  with the issuance of such
shares  issuable upon  conversion;  provided,  however,  such delivery shall not
operate as a waiver by the  Company  of any such  action  the  Company  may have
against  the  Holder.  In the event a Holder of this Note shall elect to convert
any or all of the  outstanding  principal  amount  hereof,  the  Company may not
refuse  conversion  based on any claim that the Holder or any one  associated or
affiliated  with  the  Holder  of has  been  engaged  in any  violation  of law,
agreement  or for any other  reason,  unless,  an  injunction  from a court,  on
notice,  restraining  and or  enjoining  conversion  of all or part of this Note
shall have been sought and obtained and the Company  posts a surety bond for the
benefit of the Holder in the amount of 150% of the principal amount of this Note
outstanding,  which is subject  to the  injunction,  which bond shall  remain in
effect until the  completion  of  arbitration/litigation  of the dispute and the
proceeds  of which  shall be  payable  to such  Holder to the  extent it obtains
judgment. In the absence of an injunction precluding the same, the Company shall
issue the shares issuable upon conversion of this Note or, if applicable,  cash,
upon a properly noticed conversion.  Nothing herein shall limit a Holder's right
to pursue  actual  damages or declare an Event of Default  pursuant to Section 3
herein for the Company's  failure to deliver  shares  issuable  upon  conversion
within  the period  specified  herein  and such  Holder  shall have the right to
pursue  all  remedies  available  to it at law or in equity  including,  without
limitation,  a decree of specific  performance  and/or  injunctive  relief.  The
exercise of any such rights  shall not  prohibit  the  Holders  from  seeking to
enforce damages pursuant to any other Section hereof or under applicable law.

                                       4
<PAGE>

                  (v)  Compensation  for  Buy-In on  Failure  to Timely  Deliver
Certificates  Upon Conversion.  In addition to any other rights available to the
Holder,  if the  Company  fails for any reason to  deliver  to the  Holder  such
certificate  or  certificates  pursuant  to Section  4(d)(ii) by the third (3rd)
Trading Day after the Conversion Date, and if after such third (3rd) Trading Day
the Holder is required  by its  brokerage  firm to  purchase  (in an open market
transaction or otherwise)  Common Stock to deliver in  satisfaction of a sale by
such Holder of the shares issuable upon conversion which the Holder  anticipated
receiving upon such  conversion (a "Buy-In"),  then the Company shall (A) pay in
cash to the Holder (in addition to any  remedies  available to or elected by the
Holder) the amount by which (x) the Holder's  total  purchase  price  (including
brokerage commissions, if any) for the Common Stock so purchased exceeds (y) the
product of (1) the  aggregate  number of shares of Common Stock that such Holder
anticipated  receiving from the conversion at issue multiplied by (2) the actual
sale  price of the  Common  Stock at the time of the sale  (including  brokerage
commissions,  if any) giving  rise to such  purchase  obligation  and (B) at the
option of the Holder,  either  reissue  Notes in  principal  amount equal to the
principal amount of the attempted conversion or deliver to the Holder the number
of shares of Common  Stock that would have been  issued had the  Company  timely
complied with its delivery requirements under Section 4(d)(ii).  For example, if
the Holder  purchases  Common Stock having a total  purchase price of $11,000 to
cover a Buy-In with respect to an attempted  conversion of Notes with respect to
which the actual sale price of the shares  issuable upon  conversion at the time
of the  sale  (including  brokerage  commissions,  if any)  giving  rise to such
purchase  obligation was a total of $10,000 under clause (A) of the  immediately
preceding sentence,  the Company shall be required to pay the Holder $1,000. The
Holder shall provide the Company  written notice  indicating the amounts payable
to the Holder in  respect  of the  Buy-In.  Notwithstanding  anything  contained
herein to the  contrary,  if a Holder  requires  the Company to make  payment in
respect of a Buy-In for the failure to timely deliver certificates hereunder and
the Company timely pays in full such payment,  the Company shall not be required
to pay such Holder  liquidated  damages under Section 4(d)(iv) in respect of the
certificates resulting in such Buy-In.

                  (vi)  Reservation  of Shares  Issuable  Upon  Conversion.  The
Company  covenants  that it will at all times reserve and keep  available out of
its  authorized and unissued  shares of Common Stock,  solely for the purpose of
issuance upon  conversion of the Note as herein  provided,  free from preemptive
rights or any other actual contingent  purchase rights of persons other than the
Holders,  not less than such  number of shares of the  Common  Stock as shall be
issuable upon the conversion of the  outstanding  principal  amount of the Note.
The Company  covenants that all shares of Common Stock that shall be so issuable
shall,  upon issue,  be duly and validly  authorized,  issued and fully paid and
nonassessable.

                                       5
<PAGE>

                  (vii)  Fractional  Shares.  Upon a  conversion  hereunder  the
Company shall not be required to issue stock certificates representing fractions
of shares of the Common Stock,  but shall issue in lieu of the final fraction of
a share, one whole share of Common Stock.

                  (viii) Transfer Taxes. The issuance of certificates for shares
of the Common Stock on conversion  of the Notes shall be made without  charge to
the  Holders  thereof  for any  documentary  stamp or similar  taxes that may be
payable in respect of the issue or delivery of such  certificate,  provided that
the Company  shall not be required to pay any tax that may be payable in respect
of any transfer  involved in the  issuance and delivery of any such  certificate
upon  conversion  in a name  other  than  that of the  Holder  of such  Notes so
converted  and the  Company  shall  not be  required  to issue or  deliver  such
certificates  unless or until the  person or  persons  requesting  the  issuance
thereof  shall  have paid to the  Company  the  amount of such tax or shall have
established to the satisfaction of the Company that such tax has been paid.

      5. Representations and Warranties of the Holder.  Holder hereby represents
and warrants to the Company as of the date hereof that the  execution,  delivery
and  performance  of  this  Note  and  the   consummation  of  the  transactions
contemplated hereby have been approved by all requisite action of the Holder.

      6.  Representations  and  Warranties  of the Company.  The Company  hereby
represents and warrants to the Holder as of the date hereof that:

            (a) this Note has been duly and validly  executed by the Company and
constitutes a legal,  valid and binding  obligation  of the Company  enforceable
against it in accordance with its terms.

            (b) the Company has all necessary  power and authority to enter into
this  Note and to  consummate  the  transactions  contemplated  hereby,  and the
execution and delivery and performance of this Note and the  consummation of the
transactions  contemplated  hereby have been approved by all requisite action of
the Company.

      7. Transfer; Successors and Assigns. The terms and conditions of this Note
shall inure to the benefit of and be binding upon the respective  successors and
assigns of the parties.  This Note may be transferred only upon surrender of the
original Note for  registration  of transfer,  duly endorsed,  accompanied by an
opinion of counsel in a form  satisfactory  to the Company that  registration of
the Note is not required under the Securities Act of 1933. Thereupon, a new note
for the same principal  amount and interest will be issued to, and registered in
the name of, the  transferee.  Interest  and  principal  are payable only to the
registered holder of this Note.

                                       6
<PAGE>

      8. Governing Law. This Note and all acts and transactions  pursuant hereto
and the  rights  and  obligations  of the  parties  hereto  shall  be  governed,
construed and  interpreted in accordance with the laws of the state of New York,
without  giving effect to principles  of conflicts of laws.  The parties  hereto
further agree and acknowledge that any dispute or controversy  arising out of or
in any manner whatsoever relating to this Note shall be brought in the courts of
the state of New York or the United States of America for the Southern  District
of New York located in the State of New York,  and by execution  and delivery of
this Note hereby (i) accepts the  jurisdiction  of the  aforesaid  courts;  (ii)
irrevocably  agrees to be bound by a judgment of any such court with  respect to
this Note; and (iii) irrevocably waives, to the fullest extent permitted by law,
any objection  which it may now or hereafter  have to the laying of venue of any
suit,  action or proceeding  with respect to this Note brought in any such court
and  further  irrevocably  waives  any  claim  that any  such  suit,  action  or
proceeding brought in any such court has been brought in an inconvenient forum.

      9.  Notices.  Any notice  required or  permitted  by this Note shall be in
writing and shall be deemed sufficient upon delivery,  when delivered personally
or by a nationally-recognized  delivery service (such as Fed Ex or UPS), or four
(4)  business  days after being  deposited  in the U. S. Mail,  as  certified or
registered mail, with postage prepaid, addressed to the party to be notified.

      10. Amendments and Waivers. Any term of this Note may be amended only with
the  written  consent of the Company and the  Holder.  Any  amendment  or waiver
effected in  accordance  with this Section 10 shall be binding upon the Company,
the Holder and each transferee of the Note.

      11.  Action to Collect on Note. If action is instituted to collect on this
Note, the Company promises to pay, in addition to principal and interest due and
payable hereon, all costs and expenses,  including  reasonable  attorney's fees,
incurred in connection with such action.

      12.  Presentment.  The Company  waives  presentment,  demand for  payment,
notice of dishonor,  notice of protest,  and protest,  and all other  notices or
demands in connection  with the delivery,  acceptance  and  performance  of this
Note.  No delay by the Holder  shall  operate as a waiver of any power or right,
nor shall any single or partial exercise of any power or right preclude other or
further exercise thereof,  or the exercise of any other power or right hereunder
otherwise; and, subject to the other provisions of this Note respecting waivers,
no waiver or modification of the terms hereof shall be valid unless set forth in
writing by the Holder and then only to the extent set forth therein.

      13. Entire  Agreement.  This Note constitutes the entire  understanding of
the parties with respect to the transactions contemplated hereby, and supersedes
all previous agreements and understandings, whether written or oral.

                                       7
<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Note to be executed on the
date first set forth above.

                                             COMPANY:

                                             KNOBIAS, INC.

                                             /s/ E. KEY RAMSEY
                                             -----------------------------------
                                             E. Key Ramsey, President

                                       8Exhibit 4.4

           THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES
           ACT OF 1933 NOR UNDER APPLICABLE STATE SECURITIES LAWS AND
              MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF
               UNLESS IT HAS BEEN REGISTERED UNDER SUCH LAWS OR AN
                    EXEMPTION FROM REGISTRATION IS AVAILABLE

No. _____                                                         April 22, 2005

                             STOCK PURCHASE WARRANT
                  To Subscribe for and Purchase Common Stock of

                                  KNOBIAS, INC.
                             A Delaware Corporation

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

THIS  CERTIFIES  that,  for value  received,  Bridges & PIPES,  LLC,  a Delaware
limited liability company, or its registered  assigns,  is entitled,  subject to
the terms of Section 1 hereof, to subscribe for and purchase from KNOBIAS, INC.,
a Delaware corporation (hereinafter called the "Company"), at the price of $0.75
per  share  (such  exercise  price,  as from  time to  time  to be  adjusted  as
hereinafter provided, being hereinafter called the "Warrant Price"), at any time
during the Exercise  Period,  up to 22,500  shares of fully paid,  nonassessable
shares (the "Warrant Shares") of Common Stock, par value $0.01 per share, of the
Company ("Common Stock"), subject, however, to the provisions and upon the terms
and  conditions  hereinafter  set  forth,  including,  without  limitation,  the
provisions of Section 1, Section 3 and Section 4 hereof.

Section 1. Exercise of Warrant.

      (a)  This   Warrant   may  be   exercised   by  the  holder   hereof  (the
"Warrantholder"),  in whole  or in part  (but  not as to a  fractional  share of
Common  Stock),  at any time on or after the date hereof (the "Initial  Exercise
Date") and on or prior to the close of business on the five (5) year anniversary
of the Initial  Exercise Date (the  "Termination  Date") but not thereafter (the
"Exercise  Period").  Immediately  upon the termination of the Exercise  Period,
this Warrant shall expire.  The Warrant shall be exercised by the  completion of
the  subscription  form  attached  hereto as Exhibit "A" and by the surrender of
this  Warrant  (properly  endorsed)  at the office of the Company in  Ridgeland,
Mississippi  (or at such  other  agency or office of the  Company  in the United
States as it may  designate  by notice in  writing to the  Warrantholder  at the
address of the Warrantholder appearing on the books of the Company). Payment for
the Warrant  Shares may be made by cash or check payable to the Company,  either
(i)  accompanying  the notice of the exercise,  or (ii) against  delivery by the
Company  of the  certificate(s)  representing  the  shares  being  delivered  in
settlement  of the sale of said  shares  ("Payment  Option  B")  pursuant  to an
effective   Registration  Statement  filed  with  the  Securities  and  Exchange
Commission  (the "SEC") in "brokers'  transactions"  (as such term is defined in
SEC Rule 144). In the latter case, exercise shall not be deemed to have occurred
until  payment  shall have been  received  by the  Company.  In the event of any
exercise  of  the  rights   represented  by  this  Warrant,   a  certificate  or
certificates for the Warrant Shares so purchased,  registered in the name of the
<PAGE>

Warrantholder, shall be delivered to the Warrantholder within a reasonable time,
not  exceeding  five (5) business  days,  after the rights  represented  by this
Warrant  shall have been so exercised;  and,  unless this Warrant has expired or
been exercised in full, a new Warrant  representing the number of shares (except
a remaining  fractional share), if any, with respect to which this Warrant shall
not then have been exercised  shall also be issued to the  Warrantholder  within
such time. With respect to any such exercise,  the  Warrantholder  shall for all
purposes  be deemed to have  become the holder of record of the number of shares
of Common Stock evidenced by such  certificate or certificates  from the date on
which this  Warrant was  surrendered  and payment of the Warrant  Price was made
irrespective  of the date of delivery of such  certificate,  except that, if the
date of such  surrender and payment is a date on which the stock  transfer books
of the Company are closed, such person shall be deemed to have become the holder
of such shares at the close of business on the next succeeding date on which the
stock  transfer  books are  open.  No  fractional  shares  shall be issued  upon
exercise of this Warrant.  If any fractional interest in a share of Common Stock
would,  except for the  provisions of this Section 1, be delivered upon any such
exercise, the Company, in lieu of delivering the fractional share thereof, shall
pay to the  Warrantholder an amount in cash equal to the current market price of
such  fractional  interest as determined in good faith by the Board of Directors
of the Company.  Unless the exercise of the Warrants shall be in connection with
the sale of said shares as  contemplated  in Payment  Option B, the shares shall
bear a restrictive legend in substantially the following form:

      "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
      THE SECURITIES ACT OF 1933 ("THE ACT") AND ARE "RESTRICTED  SECURITIES" AS
      THAT TERM IS  DEFINED  IN RULE 144 UNDER THE ACT.  THE  SHARES  MAY NOT BE
      OFFERED FOR SALE,  SOLD OR  OTHERWISE  TRANSFERRED  EXCEPT  PURSUANT TO AN
      EFFECTIVE  REGISTRATION  STATEMENT  UNDER  THE  ACT,  OR  PURSUANT  TO  AN
      EXEMPTION FROM REGISTRATION UNDER THE ACT, THE AVAILABILITY OF WHICH IS TO
      BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY."

      (b) In lieu of  exercising  this Warrant  pursuant to Section 1(a) hereof,
the Warrantholder may elect to receive Warrant Shares equal to the value of this
Warrant  determined  in the  manner  described  below  (or  any  portion  hereof
remaining  unexercised)  upon  delivery  of this  Warrant at the  offices of the
Company  or at such other  address as the  Company  may  designate  by notice in
writing to the  registered  Warrantholder  hereof  with the  Notice of  Cashless
Exercise  Form annexed  hereto duly  executed.  In such event the Company  shall
issue to the  Warrantholder  a number  of  Warrant  Shares  computed  using  the
following formula:

                                   X = Y (A-B)
                                   -----------
                                        A

Where X = the number of Warrant Shares to be issued to the Warrantholder.

Y = the number of Warrant Shares  purchasable under this Warrant (at the date of
such calculation).
<PAGE>

A = the Market Value per share of the Company's Common Stock on the business day
immediately  preceding  the day on which the  Notice  of  Cashless  Exercise  is
received by the Company.

B = Warrant Price per share (as adjusted to the date of such calculation).

      (c) For purposes of this Warrant

            (i) the  Market  Value of a share of  Common  Stock or other  equity
security of the Company on any date shall be equal to:

                  (A) the  closing  sale price per share (or other unit in which
such security is denominated) as published by a national  securities exchange on
which  shares of Common  Stock (or other units of the  security)  are traded (an
"Exchange")  on such  date or,  if there is no sale of  Common  Stock  (or other
units) on such date, the average of the bid and asked prices on such exchange at
the close of trading on such date, or

                  (B) if shares of Common  Stock (or other  unit) are not listed
on a national  securities exchange on such date, the closing price per share (or
other unit) as published  on the  National  Association  of  Securities  Dealers
Automatic  Quotation System ("NASDAQ")  National Market System if the shares (or
other units) are quoted on such system on such date, or

                  (C)  the   average  of  the  bid  and  asked   prices  in  the
over-the-counter  market at the close of  trading on such date if the shares (or
other  units) are not  traded on an  exchange  or listed on the NASDAQ  National
Market System, or

                  (D) if the  security  is not traded on a  national  securities
exchange or in the over-the-counter  market, the fair market value of a share of
Common  Stock (or other  unit) on such date as  determined  in good faith by the
Board of Directors.  Notwithstanding  the  foregoing,  a regional stock exchange
shall not be deemed to be a national  securities  exchange  unless  the  trading
volume of the Common Stock on such exchange exceeds the trading volume on NASDAQ
or the  over-the-counter  market  for the  thirty-day  period  ended on the date
immediately preceding the date this Warrant is exercised.

            (ii) If the Holder  disagrees with the  determination  of the Market
Value of any  securities  of the Company  determined  by the Board of  Directors
under  subparagraph  1(c)(i)(D),  the Market Value of such  securities  shall be
determined  by an  independent  appraiser  acceptable  to the  Company  and  the
Warrantholder (or, if they cannot agree on such an appraiser,  by an independent
appraiser  selected by each of them, and Market Value shall be the median of the
appraisals made by such appraisers).  If there is one appraiser, the cost of the
appraisal shall be shared equally between the Company and the Warrantholder.  If
there are two appraisers,  each of the Company and the  Warrantholder  shall pay
for its own appraisal.

Section 2.  Adjustment of Number of Shares.  Upon each adjustment of the Warrant
Price as provided  herein,  the  Warrantholder  shall  thereafter be entitled to
purchase,  at the Warrant Price  resulting from such  adjustment,  the number of
Warrant  Shares  (calculated  to the  nearest  tenth  of a  share)  obtained  by
multiplying the Warrant Price in effect  immediately prior to such adjustment by
the number of Warrant Shares  purchasable  pursuant hereto  immediately prior to
such  adjustment and dividing the product thereof by the Warrant price resulting
from such adjustment.
<PAGE>

Section 3.  Adjustment of Price Upon  Issuance of Common Stock.  If and whenever
the Company  shall  issue or sell any shares of its Common  Stock (as defined in
Section 3(h)) in a transaction  described in paragraphs  (a), (b) or (c) of this
Section 3, for a  consideration  per share less than the Warrant Price in effect
immediately  prior to the time of such issue or sale, then,  forthwith upon such
issue or sale,  the Warrant Price shall be reduced to the price  (calculated  to
the nearest $.001) determined by dividing: (a) an amount equal to the sum of (x)
the number of shares of Common Stock outstanding immediately prior to such issue
or  sale   multiplied  by  the  then  existing   Warrant  Price,   and  (y)  the
consideration,  if any,  received by the Company upon such issue or sale; by (b)
the total number of shares of Common Stock  outstanding  immediately  after such
issue or sale (including as outstanding all shares of Common Stock issuable upon
exercise  of  this  Warrant  immediately  prior  to  such  issue  or  sale).  No
adjustments of the Warrant Price, however,  shall be made in an amount less than
$.001 per share,  but any such lesser  adjustment  shall be carried  forward and
shall be made at the time and together with the next subsequent adjustment which
together with any adjustments so carried forward shall amount to $.001 per share
or more.

For purposes of this Section 3, the following  paragraphs (a) to (h), inclusive,
shall be applicable:

      (a) Stock Dividends. If, after the date of this Warrant, the Company shall
declare a dividend or make any other  distribution upon any stock of the Company
payable in Common Stock,  or any options for the purchase of Common Stock (other
than  options  for  Common  Stock  specifically  permitted  to be  issued in the
discretion of the Board of Directors as referenced in the Company's  Amended and
Restated Certificate of Incorporation,  as amended, or as may be issued pursuant
to the Company's Stock Option Plan) or any stock or securities  convertible into
or  exchangeable  for Common Stock (such rights or options  being herein  called
"Options" and such convertible or exchangeable  stock or securities being herein
called   "Convertible   Shares")  any  Common  Stock,   Options  or  Convertible
Securities,  as the  case  may be,  issuable  in  payment  of such  dividend  or
distribution shall be deemed to have been issued in a subdivision of outstanding
shares as provided in Section 3(h) below.

      (b)  Subdivision or Combination of Stock. If the Company shall at any time
subdivide  its  outstanding  shares of  Common  Stock  into a greater  number of
shares,  the Warrant Price in effect immediately prior to such subdivision shall
be  proportionately  reduced,  i.e.,  the  Warrantholder  shall be  entitled  to
purchase after such subdivision,  for the same consideration as applicable prior
to such subdivision,  the same percentage of outstanding  Common Stock that such
Warrantholder  was  entitled  to  purchase  prior  to  such   subdivision,   and
conversely,  in case the outstanding shares of Common Stock of the Company shall
be  combined  into a  smaller  number of  shares,  the  Warrant  Price in effect
immediately prior to such combination shall be proportionately increased.
<PAGE>

      (c) Reorganization,  Reclassification,  Consolidation,  Merger or Sale. If
any capital  reorganization  or  reclassification  of the  capital  stock of the
Company or any consolidation or merger of the Company with another  corporation,
or the sale of all or substantially all its assets to another  corporation shall
be  effected  in such a way that  holders of Common  Stock  shall be entitled to
receive  stock,  securities  or assets with respect to or in exchange for Common
Stock,   then,  as  a  condition  of  such   reorganization,   reclassification,
consolidation,  merger or sale,  lawful and  adequate  provisions  shall be made
whereby each  Warrantholder  shall thereafter have the right to receive upon the
basis and upon the  terms and  conditions  specified  herein  and in lieu of the
shares of Common Stock of the Company  immediately  theretofore  receivable upon
the exercise of such Warrant or Warrants,  such shares of stock,  securities  or
assets  (including  cash) as may be  issued or  payable  with  respect  to or in
exchange for a number of outstanding  shares of Common Stock equal to the number
of  shares  of  such  stock  immediately  theretofore  so  receivable  had  such
reorganization, reclassification, consolidation, merger or sale not taken place,
and in any such case  appropriate  provision  shall be made with  respect to the
rights and interests of such Warrantholder to the end that the provisions hereof
(including, without limitation, provisions for adjustments of the Warrant Price)
shall  thereafter be applicable,  as merely as may be, in relation to any shares
of stock,  securities or assets thereafter deliverable upon the exercise of such
Warrants (including an immediate adjustment,  by reason of such consolidation or
merger,  of the Warrant Price to the value for the Common Stock reflected by the
terms of such consolidation or merger if the value so reflected is less than the
Warrant Price in effect  immediately prior to such consolidation or merger ). In
the event of a merger or  consolidation  of the  Company  as a result of which a
greater or lesser number of shares of common stock of the surviving  corporation
are issuable to holders of Common Stock of the Company  outstanding  immediately
prior to such merger or consolidation,  the Warrant Price in effect  immediately
prior to such  merger or  consolidation  shall be adjusted in the same manner as
though there were a subdivision  or  combination  of the  outstanding  shares of
Common Stock of the Company. The Company will not effect any such consolidation,
merger  or  sale,  unless  prior  to  the  consummation  thereof  the  successor
corporation  (if other than the Company)  resulting from such  consolidation  or
merger or the  corporation  purchasing  such  assets  shall  assume,  by written
instrument  executed and mailed or delivered to each  Warrantholder  at the last
address  of such  Warrantholder  appearing  on the  books  of the  Company,  the
obligation to deliver to such Warrantholder such shares of stock,  securities or
assets as, in accordance with the foregoing  provisions,  such Warrantholder may
be entitled to receive upon exercise of such Warrants.

      (d) Notice of Adjustment.  Upon any adjustment of the Warrant Price,  then
and in each such case the Company shall give written  notice  thereof,  by first
class mail,  postage prepaid,  addressed to each Warrantholder at the address of
such  Warrantholder  as shown on the books of the  Company,  which  notice shall
state the  Warrant  Price  resulting  from  such  adjustment,  setting  forth in
reasonable  detail  the  method of  calculation  and the facts  upon  which such
calculation is based.

      (e) Stock to be Reserved.  The Company will at all times  reserve and keep
available out of its authorized Common Stock or its treasury shares,  solely for
the purpose of issuance  upon the exercise of this  Warrant as herein  provided,
such  number of Warrant  Shares as shall then be issuable  upon the  exercise of
this Warrant.  The Company  covenants  that all Warrant Shares which shall be so
issued  shall be duly and validly  issued and fully paid and  nonassessable  and
free from all taxes,  liens and charges with respect to the issue  thereof.  The
Company  will take all such action as may be  necessary  to assure that all such
Warrant  Shares may be so issued  without  violation  of any  applicable  law or
regulation,  or of any  requirements  of any national  securities  exchange upon
which the Common  Stock of the Company may be listed.  The Company will not take
any action which  results in any  adjustment  of the Warrant  Price if the total
number of shares of Common  Stock  issued and  issuable  after such  action upon
exercise of this Warrant would exceed the total number of shares of Common Stock
then   authorized  by  the  Company's   Amended  and  Restated   Certificate  of
Incorporation. The Company has not granted and will not grant any right of first
refusal with respect to shares issuable upon exercise of this Warrant, and there
are no preemptive rights associated with such shares.
<PAGE>

      (f) Issue Tax.  The  issuance  of  certificates  for  Warrant  Shares upon
exercise  of this  Warrant  shall be made  without  charge to the  Warrantholder
hereof for any issuance tax in respect thereof,  provided that the Company shall
not be required  to pay any tax which may be payable in respect of any  transfer
involved in the issuance and  delivery of any  certificate  in a name other than
that of the Warrantholder.

      (g) Closing of Books. The Company will at no time close its transfer books
against the transfer of the Warrant  Shares issued or issuable upon the exercise
of this Warrant in any manner which  interferes with the timely exercise of this
Warrant.

      (h)  Definition  of Common Stock.  As used herein the term "Common  Stock"
shall mean and include the 95,000,000  shares of Common Stock,  as authorized on
the date  hereof  and  also  any  capital  stock  of any  class  of the  Company
hereinafter  authorized  which shall not be limited to a fixed sum or percentage
in respect of the rights of the holders  thereof to  participate in dividends or
in the  distribution  of assets upon the voluntary or  involuntary  liquidation,
dissolution or winding up of the Company;  provided,  however,  that the Warrant
Shares purchasable pursuant to this Warrant shall include only shares designated
as  Common  Stock of the  Company  on the date  hereof or shares of any class or
classes resulting from any reclassification or reclassifications  thereof and in
case at any time there shall be more than one such resulting  class,  the shares
of each class then so issuable shall be  substantially  in the proportion  which
the  total   number  of  shares   of  such   class   resulting   from  all  such
reclassifications  bears to the  total  number  of  shares  of all such  classes
resulting from all such reclassifications.

Section 4. Notices of Record Dates. In the event of:

      (a) any taking by the  Company of a record of the  holders of any class of
securities for the purpose of determining  the holders  thereof who are entitled
to receive any dividend or other distribution  (other than cash dividends out of
earned surplus),  or any right to subscribe for,  purchase or otherwise  acquire
any  shares of stock of any class or any other  securities  or  property,  or to
receive any right to sell shares of stock of any class or any other right; or

      (b) any capital  reorganization of the Company,  any  reclassification  or
recapitalization  of the capital  stock of the Company or any transfer of all or
substantially all the assets of the Company to or consolidation or merger of the
Company with or into any other corporation or entity; or
<PAGE>

      (c) any voluntary or involuntary dissolution, liquidation or winding-up of
the  Company,  then and in each such event the  Company  will give notice to the
Warrantholder  specifying:  (i) the date on which any such record is to be taken
for the purpose of such dividend,  distribution  or right and stating the amount
and  character of such  dividend,  distribution  or right;  and (ii) the date on
which any such  reorganization,  reclassification,  recapitalization,  transfer,
consolidation,  merger, dissolution, liquidation or winding-up is to take place,
and the time, if any is to be fixed, as of which the holders of record of Common
Stock will be entitled to exchange  their shares of Common Stock for  securities
or  other  property  deliverable  upon  such  reorganization,  reclassification,
recapitalization,  transfer, consolidation,  merger, dissolution, liquidation or
winding-up.  Such  notice  shall be given  at least  ten (10) and not more  than
ninety (90) days prior to the date  therein  specified,  and such  notice  shall
state  that the  action in  question  or the  record  date is subject to (x) the
effectiveness  of  a  registration   statement  under  the  Securities  Act  and
applicable state  securities  laws, or (y) a favorable vote of stockholders,  if
either is required.

Section 5. No Stockholder Rights or Liabilities.

      (a) Except as set forth in Section  5(b),  this Warrant shall not entitled
the  Warrantholder  to any voting rights or other rights as a stockholder of the
Company.  No  provision  hereof,  in the  absence of  affirmative  action by the
Warrantholder to purchase Warrant Shares,  and no mere enumeration herein of the
rights  or  privileges  of the  Warrantholder  hereof,  shall  give  rise to any
liability of such Warrantholder for the Warrant Price or as a stockholder of the
Company,  whether  such  liability is asserted by the Company or by creditors of
the Company.

      (b) At any time  during  which this  Warrant is  exercisable,  the Company
shall, prior to making any distribution of its property or assets to the holders
of its Common Stock as a dividend in  liquidation  or partial  liquidation or by
way of return of capital or any dividend  payable to the holders of Common Stock
out of funds  legally  available  for  dividends  under the laws of the State of
Delaware,  give to the  Warrantholder  not less than ten (10) days prior written
notice of any such  distribution.  If such  Warrantholder  shall  exercise  this
Warrant on or prior to the date of such  distribution  set forth in such notice,
such  Warrantholder  shall be entitled to receive,  upon such exercise:  (i) the
number of Warrant Shares receivable pursuant to such exercise;  and (ii) without
payment  of any  additional  consideration,  a sum  equal to the  amount of such
property or assets as would have been payable to the  Warrantholder  as an owner
of the shares described in clause (i) of this Section 5(b) and the Warrantholder
hereof  having  been the holder of record of such  shares on the record date for
such distribution;  and an appropriate provision with respect to such payment to
such holder as  described  in this Section 5(b) shall be made a part of any such
distribution.

Section 6. Registration Rights Under the Securities Act of 1933.

      (a)  Piggyback  Registration.  If at any time or from  time to  time,  the
Company shall  register the sale of any of its Common Stock under the Securities
Act for its own account or the  account of any of its  security  holders,  other
than a registration on Form S-8 relating solely to an employee benefit plan or a
registration on Form S-4 relating solely to a transaction  under Rule 145 of the
Securities Act, the Company will: (i) give to the initial Warrantholder and each
other  person or entity  who holds all or any  portion  of this  Warrant  or the
Warrant  Shares  (collectively  with the initial  Warrantholder,  the "Holders")
written notice thereof as soon as practicable  prior to filing the  registration
statement,  but in any event not later than ten (10) days prior to such  filing;
and (ii) on  behalf  of all  entities  requesting  inclusion  in such  offering,
include the Registrable  Securities (as defined in Section 6(b)) in the offering
and may  condition  such  offer  on their  acceptance  of any  other  reasonable
conditions  (including,  without  limitation,  if such offering is underwritten,
that such  requesting  holders  agree in writing  to enter into an  underwriting
<PAGE>

agreement  with  customary  terms).  If the  representative  of the  underwriter
advises the Company in writing that  marketing  factors  require a limitation on
the number of shares to be underwritten, the numbers of shares to be included in
the  underwriting  or  registration  shall be  allocated  first to the  Company,
second,   to  the  Company's   security   holders  that  triggered  the  instant
registration (the "Triggering  Holders") and thereafter shall be allocated among
the Holders and other security holders requesting  inclusion in the offering pro
rata on the basis of the  number  of shares  each  requesting  Holder  and other
security  holder  requests to be included bears to the total number of shares of
all requesting  holders that have been requested to be included in such offering
(to the  extent  not  included  as a  Triggering  Holder).  If a person  who has
requested  inclusion  in such  offering as provided  above does not agree to the
terms of any such  underwriting,  such  person  shall be excluded  therefrom  by
written notice from the Company or the  underwriter.  The securities so excluded
shall also be withdrawn from registration, if applicable.

      (b) Registrable  Securities.  For the purposes of this Section 6, the term
"Registrable  Securities"  shall mean any Warrant Shares issued or issuable to a
Holder upon  exercise of its  Warrant,  any shares of Common  Stock  issued to a
Holder as a dividend on its Warrant Shares, and any other shares of Common Stock
distributable on, with respect to, or in replacement of or substitution for such
Registrable Securities,  including those that have been transferred as permitted
under this Warrant, except for those that have been sold or transferred pursuant
to an effective  registration statement or as may be resold pursuant to Rule 144
under the Securities Act.

      (c)  Obligations  of a Holder and Others in a  Registration.  Each  Holder
agrees  to  timely  furnish  such  information  regarding  such  person  and the
securities  sought to be registered and to take such other action as the Company
may  reasonably  request,  including  the entering  into of  agreements  and the
providing of documents,  in connection with the registration or qualification of
such  securities  or the  compliance  of such  registration  statement  with all
applicable  laws.  Such Holders  severally  agree that, in  connection  with any
offering  undertaken  pursuant to Section 6(a), the Company shall have the right
to,  if it  deems an  underwriter  or  underwriters  necessary  or  appropriate,
designate such underwriter(s). If the registration involves an underwriter, each
participating  Holder agrees, upon the request of such underwriter,  not to sell
any  unregistered  securities of the Company for a period of 120 days  following
the effective date of the registration  statement for such offering and to enter
into an underwriting agreement with such underwriters containing customary terms
and provisions.

      (d) Indemnification.
<PAGE>

            (1) Subject to  applicable  law,  the Company  will  indemnify  each
Holder,  each underwriter and each person controlling such Holder or underwriter
against all claims, losses,  damages and liabilities,  including legal and other
expenses  reasonably  incurred,  arising out of any untrue or  allegedly  untrue
statement of a material fact  contained in the  registration  statement,  or any
omission or alleged  omission to state a material  fact required to be stated in
the  registration  statement  or necessary  to make any  statements  therein not
misleading,  or arising out of any  violation  by the Company of the  Securities
Act,  any  state  securities  or  "blue  sky"  laws  or any  applicable  rule or
regulation,  except with respect to an untrue statement or omission contained in
any information or affidavit furnished in writing by the Holder for inclusion in
such registration statement.

            (2)  Subject to  applicable  law,  each  Holder,  severally  and not
jointly,  will indemnify the Company,  and each person  controlling the Company,
against all claims, losses,  damages and liabilities,  including legal and other
expenses  reasonably  incurred,  arising out of any untrue or  allegedly  untrue
statement  of a  material  fact  contained  in the  registration  statement,  or
required to be stated in the  registration  statement  or  necessary to make the
statements  contained  therein not  misleading,  to the extent,  but only to the
extent,  that such untrue  statement or omission is contained in any information
or affidavit furnished in writing by such Holder to the Company specifically for
inclusion in such registration statement.

      (e) Transfer of Registration  Rights. The registration  rights of a Holder
under this Section shall  automatically be transferred to any transferee of this
Warrant, or any portion thereof, or of any Registrable  Securities,  without any
notice or other action by the transferring  Holder of such transferee.  Any such
transferee  will be deemed to be a Holder for purposes of this Section 6, and as
a condition  precedent to such  transferee's  exercise of its rights  hereunder,
such transferee must agree to be bound by the terms of this Section 6.

      (f) Expenses of  Registration.  The expenses  incurred in connection  with
registrations  pursuant to this Section 6, namely all registration fees, federal
and  state  filing  and  qualification   fees,   printing  expenses,   fees  and
disbursements  of counsel for the Company and expenses of any special  audits of
the  Company's   financial   statements   incidental  to  or  required  by  such
registration,  shall be borne by the Company,  except that the Company shall not
be  required  to pay the fees and  disbursements  of  counsel  for the Holder or
Holders or  underwriters'  discounts  or  commissions  relating  to  Registrable
Securities being sold by any Holders.

Section 7. Lost,  Stolen,  Mutilated  or Destroyed  Warrant.  If this Warrant is
lost,  stolen,  mutilated  or  destroyed,  the Company  may, on such terms as to
indemnity or  otherwise as it may in its  discretion  reasonably  impose  (which
shall, in the case of a mutilated Warrant, include the surrender thereof), issue
a new Warrant of like  denomination  and tenor as the  Warrant so lost,  stolen,
mutilated  or  destroyed.  Any such new  Warrant  shall  constitute  an original
contractual  obligation  of the  Company,  whether  or not the  allegedly  lost,
stolen,  mutilated  or destroyed  Warrant  shall be at any time  enforceable  by
anyone.
<PAGE>

Section 8.  Notices.  Any notice or other  communication  to be given  hereunder
shall be in writing  and mailed or  telecopied  to such party at the  address or
number set forth below:

If to the Company:

      Knobias, Inc.
      875 North Park Drive, Bldg. 2, Suite 500
      Ridgeland, Mississippi 39157
      Telephone No.: 601-978-3399
      Telecopier No.: 601-978-3675

If to the Warrantholder,  to the address set forth on the subscription documents
submitted by the Warrantholder  upon the original issuance of the Old Warrant or
to such other person,  address or number as the party entitled to such notice or
communication  shall  have  specified  by  notice to the  other  party  given in
accordance  with  the  provisions  of this  Section.  Any such  notice  or other
communication  shall be deemed  given  when  received  as  evidenced  by (i) the
receipt if sent by certified  United States mail,  (ii)  certificate  of courier
service  if  sent  by  overnight  or  hand  delivery,   or  (iii)  by  facsimile
acknowledgment of transmission if sent by facsimile.

Section 9.  Governing  Law.  This Warrant  shall be governed by and construed in
accordance with the laws of the State of Delaware, without giving effect to such
jurisdiction's principles of conflict of laws.

      IN WITNESS  WHEREOF,  Knobias,  Inc.,  has executed this Warrant as of the
22nd day of April, 2005.

                                             KNOBIAS, INC.

                                             /s/ E. KEY RAMSEY
                                             -----------------------------------
                                             E. Key Ramsey, President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]