Document:

Exhibit 4.1.3

                          REGISTRATION RIGHTS AGREEMENT
                          -----------------------------

      AGREEMENT dated as of November 9, 2004, between ALLEGIANT CAPITAL GROUP
LLC ("Allegiant") or the "Holder"), and LMIC, INC., a Delaware corporation (the
"Company").

      WHEREAS, pursuant to a subscription agreement, dated of even date herewith
(the "Subscription Agreement"), Allegiant has purchased, for $500,000, an
aggregate of 333,333 shares (the "Allegiant Shares") of common stock, $0.001 par
value per share (the "Common Stock"), of the Company; and

      WHEREAS, the Purchaser has purchased a Warrant (together, the "Warrants")
from the Company, and the Holder has the right to purchase in the aggregate up
to 350,000 shares of the Common Stock through the exercise of the Warrants; and

      WHEREAS, the Purchaser is also acquiring from the Linsang Group (as that
term is defined) an aggregate of 666,667 additional shares of Common Stock of
the Company (the "LMIC Principal StockHolder Shares").

      WHEREAS, the Company desires to grant to the Holder the registration
rights set forth herein with respect to the "Registrable Securities" hereinafter
defined.

      NOW, THEREFORE, the parties hereto mutually agree as follows:

      1. REGISTRABLE SECURITIES. As used herein the terms "Registrable Security"
means each of (i) the 333,333 Allegiant Shares, (ii) all shares of Common Stock
issuable upon exercise of the Warrants (the "Warrant Shares"), and (iv) all of
the 666,667 LMIC Principal StockHolder Shares; provided, however, that with
respect to any particular Registrable Security, such security shall cease to be
a Registrable Security when, as of the date of determination that (a) it has
been effectively registered under the Securities Act of 1933, as amended (the
"Securities Act"), and disposed of pursuant thereto, or (b) registration under
the Securities Act is no longer required for the immediate public distribution
of such security. The term "Registrable Securities" means any and/or all of the
securities falling within the foregoing definition of a "Registrable Security."
In the event of any merger, reorganization, consolidation, recapitalization or
other change in corporate structure affecting the Common Stock, such adjustment
shall be made in the definition of "Registrable Security" as is appropriate in
order to prevent any dilution or enlargement of the rights granted pursuant to
this Section 1.

      2. REGISTRATION.

            (a) The Company shall file a registration statement (the
"Registration Statement") with the Securities and Exchange Commission (the
"Commission") within forty-five (45) days of the date of this Agreement in order
to register the resale of the Registrable Securities under the Securities Act.
In addition, the Company shall promptly respond to all comments from the staff
of the Commission and shall use its best efforts to cause such Registration
Statement to be declared effective by the Commission within seventy-five (75)
days after the initial filing thereof. Once effective, the Company shall
maintain the effectiveness of the Registration Statement until the earlier of
(i) the date that all of the Registrable Securities have been sold, or (ii) the
date that the Company receives an opinion of counsel to the Company that all of
the Registrable Securities may be freely traded without registration under the
Securities Act, under Rule 144 promulgated under the Securities Act or
otherwise.

                                      -1-
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      (b) If at any time the number of shares of Common Stock covered by the
Registration Statement is less than the sum of (i) the number of any and all
Registrable Securities held by the Holder, and (ii) the number of Warrant Shares
that could be acquired by the Holder through the exercise of the Warrants, the
Company shall register additional shares of Common Stock under the Securities
Act.

      (c) Depending on whether the Registration Statement has previously become
effective with the Commission, the Company shall register additional shares
under Section 2(c) either by amending the Registration Statement to increase the
number of shares that it covers or by filing a new registration statement. Any
such new registration statement shall thereafter be deemed part of the
Registration Statement for the purposes of this Agreement.

      3. COVENANTS OF THE COMPANY WITH RESPECT TO REGISTRATION.

      The Company covenants and agrees as follows:

            (a) The Company shall use its best efforts to cause the Registration
Statement to become effective with the Commission as promptly as possible and in
no event more than 120 days after the date of this Agreement (provided, however,
that the Company shall not be liable to the Holder or in default of this
covenant in event that the Commission's review process delays such
effectiveness). If any stop order shall be issued by the Commission in
connection therewith, the Company shall use its best reasonable efforts to
obtain promptly the removal of such order. Following the effective date of the
Registration Statement, the Company shall, upon the request of any Holder,
forthwith supply such reasonable number of copies of the Registration Statement,
preliminary prospectus and prospectus meeting the requirements of the Securities
Act, and any other documents necessary or incidental to the public offering of
the Registrable Securities, as shall be reasonably requested by the Holder to
permit the Holder to make a public distribution of the Holder's Registrable
Securities. The obligations of the Company hereunder with respect to the
Holder's Registrable Securities are subject to the Holder's furnishing to the
Company such appropriate information concerning the Holder, the Holder's
Registrable Securities and the terms of the Holder's offering of such
Registrable Securities as the Company may reasonably request in writing.

            (b) The Company shall pay all costs, fees and expenses in connection
with the Registration Statement filed pursuant to Section 2 hereof including,
without limitation, the Company's legal and accounting fees, printing expenses,
and blue sky fees and expenses; provided, however, that Holder shall be solely
responsible for the fees of any counsel retained by the Holder in connection
with such registration and any transfer taxes or underwriting discounts,
commissions or fees applicable to the Registrable Securities sold by the Holder
pursuant thereto.

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<PAGE>

            (c) The Company will take all necessary action which may be required
to qualify or register the Registrable Securities included in the Registration
Statement for the offer and sale under the securities or blue sky laws of such
states as are reasonably requested by Holder of such securities, provided that
the Company shall not be obligated to execute or file any general consent to
service of process or to qualify as a foreign corporation to do business under
the laws of any such jurisdiction.

      4. ADDITIONAL TERMS.

            (a) The Company shall indemnify and hold harmless the Holder and
each underwriter, within the meaning of the Securities Act, who may purchase
from or sell for any Holder, any Registrable Securities, from and against any
and all losses, claims, damages and liabilities caused by any untrue statement
of a material fact contained in the Registration Statement, any other
registration statement filed by the Company under the Securities Act with
respect to the registration of the Registrable Securities, any post-effective
amendment to such registration statements, or any prospectus included therein or
caused by any omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, except
insofar as such losses, claims, damages or liabilities are caused by any such
untrue statement or omission based upon information furnished or required to be
furnished in writing to the Company by the Holder or underwriter expressly for
use therein, which indemnification shall include each person, if any, who
controls any Holder or underwriter within the meaning of the Securities Act and
each officer, director, employee and agent of Holder and underwriter; provided,
however, that the indemnification in this Section 4(a) with respect to any
prospectus shall not inure to the benefit of any Holder or underwriter (or to
the benefit of any person controlling any Holder or underwriter) on account of
any such loss, claim, damage or liability arising from the sale of Registrable
Securities by the Holder or underwriter, if a copy of a subsequent prospectus
correcting the untrue statement or omission in such earlier prospectus was
provided to such Holder or underwriter by the Company prior to the subject sale
and the subsequent prospectus was not delivered or sent by the Holder or
underwriter to the purchaser prior to such sale and provided further, that the
Company shall not be obligated to so indemnify any Holder or any such
underwriter or other person referred to above unless the Holder or underwriter
or other person, as the case may be, shall at the same time indemnify the
Company, its directors, each officer signing the Registration Statement and each
person, if any, who controls the Company within the meaning of the Securities
Act, from and against any and all losses, claims, damages and liabilities caused
by any untrue statement of a material fact contained in the Registration
Statement, any registration statement or any prospectus required to be filed or
furnished by reason of this Agreement or caused by any omission to state therein
a material fact required to be stated therein or necessary to make the
statements therein not misleading, insofar as such losses, claims, damages or
liabilities are caused by any untrue statement or omission based upon
information furnished in writing to the Company by the Holder or underwriter
expressly for use therein.

            (b) If for any reason the indemnification provided for in the
preceding section is held by a court of competent jurisdiction to be unavailable
to an indemnified party with respect to any loss, claim, damage, liability or
expense referred to therein, then the indemnifying party, in lieu of
indemnifying such indemnified party thereunder, shall contribute to the amount
paid or payable by the indemnified party as a result of such loss, claim, damage
or liability in such proportion as is appropriate to reflect the relative fault
of the indemnified party and the indemnifying party, as well as any other
relevant equitable considerations.

                                                                               3
<PAGE>

            (c) Neither the filing of a Registration Statement by the Company
pursuant to this Agreement nor the making of any request for prospectuses by the
Holder shall impose upon any Holder any obligation to sell the Holder's
Registrable Securities.

            (d) Holder, upon receipt of notice from the Company that an event
has occurred which requires a Post-Effective Amendment to the Registration
Statement or a supplement to the prospectus included therein, shall promptly
discontinue the sale of Registrable Securities until the Holder receives a copy
of a supplemented or amended prospectus from the Company, which the Company
shall provide as soon as practicable after such notice.

            (e) If the Company fails to keep the Registration Statement referred
to above continuously effective during the requisite period, then the Company
shall, promptly upon the request of any Holder, use its best efforts to update
the Registration Statement or file a new registration statement covering the
Registrable Securities remaining unsold, subject to the terms and provisions
hereof.

            (f) Holder agrees to provide the Company with any information or
undertakings reasonably requested by the Company in order for the Company to
include any appropriate information concerning the Holder in the Registration
Statement or in order to promote compliance by the Company or the Holder with
the Securities Act.

            (g) The Company agrees that it shall cause each of its directors,
officers and shareholder owning ten percent (10%) or more of the Company's
outstanding Common Stock to refrain from selling any shares of the Company's
Common Stock until the Registration Statement has been declared effective.

            (h) Holder agrees with the Company that such Holder will not short
sell the Company's shares of Common Stock, either before or after the effective
date of the Registration Statement, and the Holder agree that they will not
collectively sell on any given day a number of shares of Common Stock in excess
of fifteen percent (15%) of the Average Dollar Daily Trading Volume for the
prior fifty (50) trading days as reported by BigCharts.com or an other
nationally recognized reporting service. This covenant shall terminate
concurrently with the termination of the Company's obligation to maintain the
effectiveness of the Registration Statement pursuant to Section 2(a).

      5. GOVERNING LAW. The Registrable Securities will be, if and when issued,
delivered in Delaware. This Agreement shall be deemed to have been made and
delivered in the State of Delaware and shall be governed as to validity,
interpretation, construction, effect and in all other respects by the internal
substantive laws of the State of Delaware, without giving effect to the choice
of law rules thereof.

      6. AMENDMENT. This Agreement may only be amended by a written instrument
executed by the Company and the Holder.

                                                                               4
<PAGE>

      7. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement of
the parties hereto with respect to the subject matter hereof, and supersedes all
prior agreements and understandings of the parties, oral and written, with
respect to the subject matter hereof.

      8. EXECUTION IN COUNTERPARTS. This Agreement may be executed in one or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same document.

      9. NOTICES. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed duly given when delivered in
the manner and to the addresses set forth in the Subscription Agreement

      10. BINDING EFFECT; BENEFITS. Any Holder may assign its rights hereunder.
This Agreement shall inure to the benefit of, and be binding upon, the parties
hereto and their respective heirs, legal representatives, successors and
assigns. Nothing herein contained, express or implied, is intended to confer
upon any person other than the parties hereto and their respective heirs, legal
representatives and successors, any rights or remedies under or by reason of
this Agreement.

      11. HEADINGS. The headings contained herein are for the sole purpose of
convenience of reference, and shall not in any way limit or affect the meaning
or interpretation of any of the terms or provisions of this Agreement.

      12. SEVERABILITY. Any provision of this Agreement which is held by a court
of competent jurisdiction to be prohibited or unenforceable in any
jurisdiction(s) shall be, as to such jurisdiction(s), ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction.

      13. GOVERNING LAW; JURISDICTION. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed in the State of Delaware. Each of the parties
irrevocably agrees that any and all suits or proceedings based on or arising
under this Agreement may be brought only in and shall be resolved in the federal
or state courts located in the City of New York, New York and consents to the
jurisdiction of such courts for such purpose. Each of the parties irrevocably
waives the defense of an inconvenient forum to the maintenance of such suit or
proceeding in any such court. Each of the parties further agrees that service of
process upon such party mailed by first class mail to the address set forth in
Section 9 shall be deemed in every respect effective service of process upon
such party in any such suit or proceeding. Nothing herein shall affect the right
of a party to serve process in any other manner permitted by law. Each of the
parties agrees that a final non-appealable judgment in any such suit or
proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on such judgment or in any other lawful manner.

      14. ATTORNEYS' FEES AND DISBURSEMENTS. If any action at law or in equity
is necessary to enforce or interpret the terms of this Agreement, the prevailing
party or parties shall be entitled to receive from the other party or parties
reasonable attorneys' fees and disbursements in addition to any other relief to
which the prevailing party or parties may be entitled.

                                                                               5
<PAGE>

      IN WITNESS WHEREOF, this Agreement has been executed and delivered by the
parties hereto as of the date first above written.

                           LMIC, INC.

                           By:
                               -------------------------------------------
                           Name:
                                 -----------------------------------------
                           Its:
                                ------------------------------------------

                           HOLDER:

                           ALLEGIANT CAPITAL GROUP LLC

                           By:
                              --------------------------------------------
                              Name: Michael Staisil
                              Its:  Managing MemberExhibit 4.1.4

                         COMMON STOCK PURCHASE AGREEMENT
                         -------------------------------

      COMMON STOCK PURCHASE AGREEMENT (this  "AGREEMENT"),  dated as of November
9, 2004, by and among LINSANG PARTNERS,  LLC ("LINSANG"),  LINSANG INTERNATIONAL
L.P. ("LINSANG INTERNATIONAL");  and ALLEGIANT CAPITAL GROUP, LLC ("ALLEGIANT").
Linsang,  Linsang International are hereinafter sometimes  collectively referred
to as the "LINSANG GROUP." Allegiant is hereinafter sometimes referred to as the
"PURCHASER."

      WHEREAS:

      A. The Linsang Group are major stockholders of LMIC, Inc. (the "COMPANY"),
a corporation  organized under the laws of the State of Delaware.  Shares of the
Common Stock of the Company, $0.001 par value per share (the "COMMON STOCK") are
quoted on the OTC Bulletin Board under the symbol LMII.OB.

      B. The Linsang Group and the Purchaser are executing and  delivering  this
Agreement in reliance upon the exemption from securities  registration  afforded
by the provisions of Section 4(1) of the Securities Act of 1933, as amended (the
"SECURITIES ACT").

      C.  The  Company  and  the  Purchaser  are  concurrently  entering  into a
Subscription  Agreement of even date  herewith  (the  "SUBSCRIPTION  AGREEMENT")
pursuant  to which the  Company  will issue and sell to the  Purchaser,  and the
Purchaser will purchase from the Company,  an aggregate of 333,333 shares of the
Common Stock of the Company (the  "SHARES")  and warrants to purchase  shares of
the Company's Common Stock (the COMMON STOCK").

      D. The parties hereto agree that  concurrently  with the closing under the
Subscription  Agreement,  the Linsang Group will sell to the Purchaser,  and the
Purchaser  will purchase from the Linsang  Group,  shares of the Common Stock on
the terms and conditions set forth below.

      E.  Contemporaneous  with the execution and delivery of this Agreement and
the  Subscription  Agreement,  the Company,  the  Purchaser  are  executing  and
delivering  a  Registration  Rights  Agreement  in  the  form  attached  to  the
Subscription Agreement as Exhibit C, pursuant to which the Company has agreed to
provide certain  registration  rights under the Securities Act and the rules and
regulations promulgated thereunder, and applicable state securities laws.

      NOW,  THEREFORE,  the  Linsang  Group and the  Purchaser  hereby  agree as
follows:

                                                                               1
<PAGE>

1. CERTAIN DEFINITIONS.

      For  purposes  of this  Agreement,  the  terms  AGREEMENT,  COMMON  STOCK,
COMPANY, PURCHASER, SECURITIES ACT, SUBSCRIPTION AGREEMENT, SHARES, WARRANTS and
LINSANG GROUP shall have the meanings set forth above, the term ALLEGIANT COMMON
SHARES,  shall have the meaning set forth in Section  2(a) below,  and the terms
CLOSING and CLOSING DATE shall have the meanings set forth in Section  2(b)(iii)
below.

2. PURCHASE AND SALE OF ALLEGIANT COMMON SHARES.

      (a) Generally.  Except as otherwise provided in this Section 2 and subject
to the  satisfaction  (or waiver) of the  conditions  set forth in Section 6 and
Section 7 below, on the Closing Date,  Allegiant shall purchase from the Linsang
Group an aggregate  of 666,667  shares of Common  Stock (the  "ALLEGIANT  COMMON
SHARES") for cash in the amount of $0.01 per share,  and the Linsang Group shall
sell the  Allegiant  Common  Shares to Allegiant in such  respective  amounts as
among  the  Linsang  Group as shall be set forth on the  signature  page of this
Agreement.

      (b) Purchase of Allegiant Common Shares; Form of Payment; Closing Date.

            (i) On the Closing Date (as defined below),  the Linsang Group shall
sell the  Allegiant  Shares to  Allegiant,  and  Allegiant  shall  purchase such
Allegiant  Common  Shares  from the Linsang  Group and pay to the Linsang  Group
$6,667 as the purchase price of such Allegiant Common Shares.  The Linsang Group
shall deliver to the Purchaser stock certificates  registered in the name of the
Purchaser  evidencing their respective  record ownership of the Allegiant Common
Shares  by a date  that  shall be not later  than  five (5) days  following  the
Closing Date. Notwithstanding the foregoing deliveries or any other provision of
this Agreement to the contrary, the Purchaser shall, for all purposes, be deemed
to be the record and beneficial owners of the aforesaid  Allegiant Common Shares
as at the Closing Date described below.

            (ii) The  Purchaser  shall pay the purchase  price for the Allegiant
Common Shares to be purchased by it to the Linsang Group against delivery by the
Linsang  Group of  certificates  representing  such  shares  duly  endorsed  for
transfer to the Purchaser, and the Linsang Group shall deliver such certificates
to the Purchaser against delivery by the Purchaser of the purchase price.

            (iii)  Subject to the  satisfaction  (or  waiver) of the  conditions
thereto  set forth in  Section 6 and  Section 7 below,  the date and time of the
sale of the Allegiant  Common Shares  pursuant to this Agreement (the "CLOSING")
shall be concurrent  with the Closing under the  Subscription  Agreement or such
other date or time as the  Purchaser  and the Linsang  Group may mutually  agree
("CLOSING DATE").  The Closing shall occur at the New York offices of Allegiant,
or at such other  place as the  Purchaser  and the Linsang  Group may  otherwise
mutually agree.

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<PAGE>

3. THE PURCHASER REPRESENTATIONS AND WARRANTIES.

      The  Purchaser  severally and not jointly  represents  and warrants to the
Linsang Group as follows:

      (a)  Organization,  Good  Standing and  Qualification.  The Purchaser is a
limited partnership duly organized,  validly existing and in good standing under
the laws of its  state  of  organization  and has all the  requisite  power  and
authority  to carry on its  business  as now  conducted  and as  proposed  to be
conducted.

      (b) Purchase for Own Account.  The Purchaser is  purchasing  the Allegiant
Common  Shares  for the  Purchaser's  own  account  and not with a present  view
towards the distribution  thereof. The Purchaser  understands that the Purchaser
must  bear  the  economic  risk  of this  investment  indefinitely,  unless  the
Allegiant  Common Shares are  registered  pursuant to the Securities Act and any
applicable  state  securities  or  blue  sky  laws  or an  exemption  from  such
registration  is  available,  and that the Company has no present  intention  of
registering any of the Allegiant Common Shares other than as contemplated by the
Registration Rights Agreement.  Notwithstanding anything in this Section 3(b) to
the contrary,  by making the foregoing  representation,  the Purchaser  does not
agree to hold the Allegiant Common Shares for any minimum or other specific term
and reserves the right to dispose of the Allegiant  Common Shares at any time in
accordance  with or pursuant to a  registration  statement or an exemption  from
registration under the Securities Act and any applicable state securities laws.

      (c) Information.  The Purchaser has been furnished all materials  relating
to the business, finances and operations of the Company and its subsidiaries and
materials  relating to the offer and sale of the Allegiant Common Shares,  which
have been  requested  by the  Purchaser.  The  Purchaser  has been  afforded the
opportunity  to ask questions of the Company and has received what the Purchaser
believes  to be  satisfactory  answers  to any  such  inquiries.  The  Purchaser
understands  that its investment in the Allegiant  Common Shares involves a high
degree of risk. Neither such inquiries nor any other due diligence investigation
conducted by the  Purchaser or its counsel or any of its  representatives  shall
modify,  amend or affect the  Purchaser's  right to rely on the Linsang  Group's
representations and warranties contained in Section 4 below.

      (d) Governmental  Review. The Purchaser  understands that no United States
federal  or state  agency or any other  government  or  governmental  agency has
passed upon or made any  recommendation  or endorsement of the Allegiant  Common
Shares.

      (e) Accredited Investor Status. The Purchaser is an "Accredited  Investor"
as that term is defined in Rule 501(a) of Regulation D.

      (f) Authorization;  Enforcement. The Purchaser has the requisite power and
authority to enter into and perform its obligations  under this Agreement and to
purchase the Allegiant  Common Shares in accordance with the terms hereof.  This
Agreement has been duly and validly authorized, executed and delivered on behalf
of  the  Purchaser  and is a  valid  and  binding  agreement  of  the  Purchaser
enforceable  against the  Purchaser  in  accordance  with its terms,  subject to
applicable  bankruptcy,  insolvency,   reorganization,   moratorium,  fraudulent
transfer and other laws affecting  creditors' rights and remedies  generally and
to general principles of equity (regardless of whether  enforcement is sought in
a proceeding at law or in equity).

                                                                               3
<PAGE>

      (g)  Restrictions  on Transfer.  The Purchaser  understand and acknowledge
that the Allegiant  Common Shares have not been registered  under the Securities
Act. Unless and until otherwise permitted,  the Allegiant Common Shares and each
certificate  and other document  evidencing  any of the Allegiant  Common Shares
shall be endorsed with the legend substantially in the following form:

      "THESE  SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
      OF 1933,  AS  AMENDED,  AND MAY NOT BE SOLD,  PLEDGED  OR  OTHERWISE
      TRANSFERRED   UNLESS  (A)  COVERED  BY  AN  EFFECTIVE   REGISTRATION
      STATEMENT UNDER SUCH ACT, (B) IN COMPLIANCE WITH RULE 144 UNDER SUCH
      ACT,  OR (C) THE  COMPANY  HAS BEEN  FURNISHED  WITH AN  OPINION  OF
      COUNSEL  REASONABLY  ACCEPTABLE TO THE COMPANY TO THE EFFECT THAT NO
      REGISTRATION IS REQUIRED FOR SUCH TRANSFER."

4. REPRESENTATIONS AND WARRANTIES OF THE LINSANG GROUP.

      Each member of the Linsang Group hereby severally  represents and warrants
to the Purchaser as follows:

      (a)  Organization  and Power.  Each  member of the  Linsang  Group is duly
organized  and  validly  existing  under the laws of their  respective  state of
organization.  Each Linsang  Group member has full legal  capacity to enter into
this Agreement and the other documents contemplated hereby to which such Linsang
Group  member  is  a  party,  and  to  perform  its  obligations  hereunder  and
thereunder.

      (b) Authorization.  The execution, delivery and performance by each member
of the Linsang  Group of this  Agreement  and the other  documents  contemplated
hereby to which such Linsang Group member is a party and the consummation of the
transactions  contemplated  hereby  and  thereby  have  been  duly  and  validly
authorized by all requisite  action,  and no other act or proceeding on the part
of the Linsang Group member is necessary to authorize the execution, delivery or
performance  of this  Agreement or the other  documents  contemplated  hereby to
which  such  Linsang  Group  member  is a  party  and  the  consummation  of the
transactions  contemplated  hereby  or  thereby.  This  Agreement  has been duly
executed  and  delivered  by  the  Linsang  Group  member  and  this   Agreement
constitutes,  and the other documents  contemplated  hereby to which the Linsang
Group member is a party upon  execution and delivery by the Purchaser  will each
constitute,  a valid  and  binding  obligation  of such  Linsang  Group  member,
enforceable in accordance with its terms.

                                                                               4
<PAGE>

      (c) Absence of  Conflicts.  Neither the execution and the delivery of this
Agreement and the other documents contemplated hereby to which the Linsang Group
member is a party, nor the consummation of the transactions  contemplated hereby
and thereby, will (a) conflict with, result in a breach of any of the provisions
of, (b) constitute a default under, (c) result in the violation of, (d) give any
third party the right to terminate or to accelerate  any obligation  under,  (e)
result in the creation of any lien upon the Allegiant  Common  Shares under,  or
(f) require any authorization,  consent, approval,  execution or other action by
or notice to any  court or other  governmental  body or any  person  under,  any
indenture,  mortgage,  lease, loan agreement or other agreement or instrument to
which the Linsang Group member is bound or affected, or any statute, regulation,
rule,   judgment,   order,  decree  or  other  restriction  of  any  government,
governmental agency or court to which the Linsang Group member is subject.

      (d)  Litigation.  There  are no  actions,  suits,  proceedings,  orders or
investigations  pending  or,  to the  best  of the  Linsang  Group's  knowledge,
threatened  against or affecting the Linsang Group member,  at law or in equity,
or before or by any federal, state, municipal or other governmental  department,
commission, board, bureau, agency or instrumentality, domestic or foreign, which
would  adversely  affect  the  Linsang  Group  member's  performance  under this
Agreement,  the other documents  contemplated  hereby to which the Linsang Group
member is a party or the consummation of the transactions contemplated hereby or
thereby.

      (e) Allegiant  Common  Shares.  Upon  delivery at Closing of  certificates
representing the Allegiant Common Shares,  good and valid title to the Allegiant
Common  Shares  will  pass to the  Purchaser  free  and  clear  of any  liens or
restrictions of any kind.

      (f) Disclosure.  Neither this Article 4 nor any document delivered by such
Linsang  Group member to the  Purchaser on the Closing Date  contains or, on the
Closing Date,  will contain,  when taken as a whole,  any untrue  statement of a
material  fact or  omits a  material  fact  necessary  to  make  the  statements
contained herein not misleading

5. COVENANTS.

      (a)  Satisfaction of Conditions.  The parties shall use their best efforts
to satisfy in a timely manner each of the  conditions set forth in Section 6 and
Section 7 of this Agreement.

      (b) Blue Sky Laws. The Linsang Group shall, on or before the Closing Date,
take such action as the Linsang  Group  members  shall  reasonably  determine is
necessary  to qualify  the  Allegiant  Common  Shares for sale to the  Purchaser
pursuant to this Agreement under applicable securities or "blue sky" laws of the
applicable states of the United States or obtain exemption therefrom,  and shall
provide evidence of any such action so taken to the Purchaser on or prior to the
Closing Date.

6. CONDITIONS TO THE LINSANG GROUP"S OBLIGATION TO SELL.

      The obligation of the Linsang Group  hereunder to issue and sell Allegiant
Common  Shares  to a  Purchaser  at the  Closing  hereunder  is  subject  to the
satisfaction, at or before the Closing Date, of each of the following conditions
thereto;  provided,  however,  that these conditions are for the Linsang Group's
sole  benefit and may be waived by any Linsang  Group  member at any time in its
sole discretion.
                                                                               5
<PAGE>

      (a) The  applicable  Purchaser  shall have executed the signature  page to
this Agreement and the Registration Rights Agreement,  and delivered the same to
the Linsang Group.

      (b) The representations  and warranties of the applicable  Purchaser shall
be true and  correct  as of the date  when  made and as of the  Closing  Date as
though made at that time (except for  representations  and warranties that speak
as of a specific date,  which  representations  and warranties shall be true and
correct as of such date),  and the applicable  Purchaser  shall have  performed,
satisfied and complied in all material  respects with the covenants,  agreements
and conditions required by this Agreement to be performed, satisfied or complied
with by the applicable Purchaser at or prior to the Closing Date.

      (c)  No  statute,  rule,  regulation,  executive  order,  decree,  ruling,
injunction;  action,  proceeding  or  interpretation  shall  have been  enacted,
entered, promulgated, endorsed or adopted by any court or governmental authority
of competent jurisdiction or any self-regulatory  organization,  or the staff of
any  thereof,  having  authority  over the  matters  contemplated  hereby  which
questions the validity of, or challenges or prohibits the  consummation  of, any
of the transactions contemplated by this Agreement.

      (d) All of the  conditions to the  obligations  of the Company to sell the
Shares and Warrants to the Purchaser  under the  Subscription  Agreements  shall
have been  satisfied,  and the Company shall have received the proceeds from the
sale of the Shares and Warrants under such Subscription Agreements.

7. CONDITIONS TO THE PURCHASER'S OBLIGATION TO PURCHASE ALLEGIANT COMMON SHARES.

      The obligation of the Purchaser hereunder to purchase the Allegiant Common
Shares to be purchased by it  hereunder  is subject to the  satisfaction,  at or
before the Closing  Date,  of each of the  following  conditions,  provided that
these conditions are for such Purchaser's sole benefit and may be waived by such
Purchaser at any time in such Purchaser's sole discretion:

      (a) The Linsang  Group shall have  executed  the  signature  pages to this
Agreement and delivered the same to the Purchaser.

      (b) The  representations and warranties of the Linsang Group shall be true
and correct as of the date when made and as of the  Closing  Date as though made
at that time  (except  for  representations  and  warranties  that speak as of a
specific date, which representations and warranties shall be true and correct as
of such date) and the Linsang Group shall have performed, satisfied and complied
in all material respects with the covenants,  agreements and conditions required
by this  Agreement to be  performed,  satisfied or complied  with by the Linsang
Group at or prior to the Closing Date.

                                                                               6
<PAGE>

      (c)  No  statute,  rule,  regulation,  executive  order,  decree,  ruling,
injunction,  action,  proceeding  or  interpretation  shall  have been  enacted,
entered, promulgated, endorsed or adopted by any court or governmental authority
of competent jurisdiction or any self-regulatory  organization,  or the staff of
any  thereof,  having  authority  over the  matters  contemplated  hereby  which
questions the validity of, or challenges or prohibits the  consummation  of, any
of the transactions contemplated by this Agreement.

      (d) All of the conditions to the  obligations of the Purchaser to purchase
the Shares and Warrants from the Company under the Subscription  Agreement shall
have been satisfied.

8. MISCELLANEOUS.

      (a) Governing Law;  Jurisdiction.  This Agreement shall be governed by and
construed in  accordance  with the laws of the State of Delaware  applicable  to
contracts made and to be performed in the State of Delaware. Each of the parties
irrevocably  agrees  that any and all suits or  proceedings  based on or arising
under this Agreement may be brought only in the shall be resolved in the federal
or state  courts  located in the City of New York,  New York and consents to the
jurisdiction  of such courts for such purpose.  Each of the parties  irrevocably
waives the defense of an  inconvenient  forum to the maintenance of such suit or
proceeding in any such court. Each of the parties further agrees that service of
process  upon such party  mailed by first class mail to the address set forth in
Section 8(f) shall be deemed in every respect  effective service of process upon
such party in any such suit or proceeding. Nothing herein shall affect the right
of a Purchaser to serve  process in any other manner  permitted by law.  Each of
the  parties  agrees  that a final  non-appealable  judgment in any such suit or
proceeding  shall be conclusive  and may be enforced in other  jurisdictions  by
suit on such judgment or in any other lawful manner.

      (b)  Counterparts.   This  Agreement  may  be  executed  in  two  or  more
counterparts,  all of which shall be considered  one and the same  agreement and
shall  become  effective  when  counterparts  have been signed by each party and
delivered to the other party.  This Agreement,  once executed by a party, may be
delivered to the other  parties  hereto by facsimile  transmission  of a copy of
this Agreement  bearing the signature of the party so delivering this Agreement.
In the event any  signature is delivered  by facsimile  transmission,  the party
using such means of delivery shall cause the manually executed Execution Page(s)
hereof to be physically delivered to the other party within five (5) days of the
execution hereof.

      (c)  Headings.  The  headings of this  Agreement  are for  convenience  of
reference  and shall not form part of, or affect  the  interpretation  of,  this
Agreement.

      (d)  Severability.  If any provision of this Agreement shall be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not
affect the validity or  enforceability of the remainder of this Agreement or the
validity or enforceability of this Agreement in any other jurisdiction.

                                                                               7
<PAGE>

      (e)  Entire  Agreement;   Amendments;   Waiver.  This  Agreement  and  the
instruments  referenced  herein contain the entire  understanding of the parties
with  respect  to  the  matters  covered  herein  and  therein  and,  except  as
specifically  set forth  herein or therein,  neither  the Linsang  Group nor the
Purchaser  make any  representation,  warranty,  covenant  or  undertaking  with
respect to such matters. No provision of this Agreement may be waived or amended
other than by an  instrument  in writing  signed by the Linsang Group and by the
Purchaser.  Any waiver by the Purchaser,  on the one hand, or the Linsang Group,
on the other hand,  of a breach of any  provision  of this  Agreement  shall not
operate as or be construed to be a waiver of any other breach of such  provision
of or any breach of any other  provision of this  Agreement.  The failure of the
Purchaser,  on the one hand, or the Linsang  Group,  on the other hand to insist
upon strict  adherence to any term of this  Agreement  on one or more  occasions
shall not be  considered a waiver or deprive that party of the right  thereafter
to  insist  upon  strict  adherence  to  that  term  or any  other  term of this
Agreement.

      (f) Notices. Any notices required or permitted to be given under the terms
of this Agreement  shall be sent by certified or registered mail (return receipt
requested) or delivered  personally or by courier or by confirmed telecopy,  and
shall be effective five days after being placed in the mail, if mailed,  or upon
receipt  or  refusal  of  receipt,  if  delivered  personally  or by  courier or
confirmed  telecopy,  in each case addressed to a party.  The addresses for such
communications shall be:

      If to the Linsang Group

            Linsang Partners, LLC
            P.O. Box 0039
            Beltsville, D 20704
            Kwok Li, Chairman

      If to Allegiant:

            c/o Allegiant Capital Group, LLC
            520 Fifth Avenue
            38th floor
            New York, NY 10022
            Attention:  Michael Staisil

Each party hereto may from time to time change its address or  facsimile  number
for notices under this Section 8 by giving at least ten (10) days' prior written
notice of such changed address or facsimile number, in the case of the Purchaser
to the  Linsang  Group,  and in the  case  of the  Linsang  Group  to all of the
Purchaser.

      (g) Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the  parties and their  successors  and  assigns.  The Linsang
Group shall not assign this  Agreement  or any rights or  obligations  hereunder
without the prior written consent of the Purchaser.

      (h) Third Party Beneficiaries.  This Agreement is intended for the benefit
of the parties hereto and their respective permitted successors and assigns, and
is not for the benefit of nor may any provision  hereof be enforced by any other
person.

                                                                               8
<PAGE>

      (i) Survival.  The representations and warranties of the Linsang Group and
the  agreements  and  covenants of the Linsang  Group shall  survive the Closing
notwithstanding any due diligence investigation conducted by or on behalf of the
Purchaser.  Moreover,  none of the  representations  and warranties  made by the
Linsang Group herein shall act as a waiver of any rights or remedies a Purchaser
may have under  applicable  federal or state  securities laws. The Linsang Group
agrees to indemnify and hold harmless the Purchaser and each of their  managers,
officers,  directors,  employees,  partners,  members, agents and affiliates for
loss or damage  relating to the  Allegiant  Common  Shares  purchased  hereunder
arising as a result of or related to any breach by the  Linsang  Group or any of
its  representations  or covenants set forth herein,  including  advancement  of
expenses as they are incurred.

      (j) Further  Assurances.  Each party shall do and perform,  or cause to be
done and  performed,  all such  further acts and things,  and shall  execute and
deliver all such other agreements,  certificates,  instruments and documents, as
the other  party may  reasonably  request  in order to carry out the  intent and
accomplish  the  purposes  of  this  Agreement  and  the   consummation  of  the
transactions contemplated hereby.

      (k)  Termination.  In the  event  that the  Closing  Date  shall  not have
occurred on or before November 9, 2004, unless the parties agree otherwise, this
Agreement shall terminate at the close of business on such date. Notwithstanding
any  termination  of this  Agreement,  any party not in breach of this Agreement
shall preserve all rights and remedies it may have against  another party hereto
for a breach of this Agreement prior to or relating to the termination hereof.

      (l) Joint  Participation  in Drafting.  Each party to this  Agreement  has
participated in the  negotiation  and drafting of this  Agreement.  As such, the
language  used herein shall be deemed to be the  language  chosen by the parties
hereto to express their mutual intent,  and no rule of strict  construction will
be applied against any party to this Agreement.

      (m) Equitable Relief.  Each party  acknowledges that a breach by it of its
obligations  hereunder  will  cause  irreparable  harm to the other  parties  by
vitiating  the  intent  and  purpose of the  transactions  contemplated  hereby.
Accordingly,  each party acknowledges that the remedy at law for a breach of its
obligations hereunder will be inadequate and agrees, in the event of a breach or
threatened  breach by such party of the provisions of this  Agreement,  that the
other parties shall be entitled, in addition to all other available remedies, to
an  injunction  restraining  any breach and  requiring  immediate  issuance  and
transfer, without the necessity of showing economic loss and without any bond or
other security being required.

      (n)  Determinations.  Except as otherwise  expressly  provided herein, all
consents,  approvals  and  other  determinations  to be  made  by the  Purchaser
pursuant  to  this  Agreement  and  all  waivers  and  amendments  to or of  any
provisions  in this  Agreement  prior to the Closing  Date to be binding  upon a
Purchaser  shall be made by such  Purchaser  and except as  otherwise  expressly
provided herein, all consents,  approvals and other  determinations  (other than
amendments  to the terms and  provisions  of this  Agreement)  to be made by the
Purchaser pursuant to this Agreement and all waivers and amendments to or of any
provisions  in this  Agreement  after  the  Closing  Date  shall  be made by the
Purchaser.

                                                                               9
<PAGE>

      (o) Attorneys' Fees and  Disbursements.  If any action at law or in equity
is necessary to enforce or interpret the terms of this Agreement, the prevailing
party or parties  shall be entitled  to receive  from the other party or parties
reasonable  attorneys' fees and disbursements in addition to any other relief to
which the prevailing party or parties may be entitled.

      [balance of this page intentionally left blank]

                                                                              10
<PAGE>

      IN WITNESS  WHEREOF,  the parties  have caused this  Agreement  to be duly
      executed as of the date first above written.

                                              ALLEGIANT COMMON SHARES TO BE SOLD
THE LINSANG GROUP:                  ALLEGIANT COMMON SHARES

LINSANG PARTNERS, LLC
                                    ____________ shares

BY:___________________________

LINSANG INTERNATIONAL L.P.

                                    ____________ shares

BY:___________________________              666,667 SHARES

THE PURCHASER:
ALLGIANT CAPITAL GROUP, LLC,

By:___________________________
Name:    Michael Staisil
Title:   Managing Member

                                                                              11

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