Document:

THIS WARRANT AND THE SECURITIES  RECEIVABLE  UPON EXERCISE  HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES  ACT"),
OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED
OR OTHERWISE  TRANSFERRED OR DISPOSED OF, EXCEPT UPON DELIVERY TO THE COMPANY OF
AN OPINION OF COUNSEL  SATISFACTORY  TO THE  COMPANY  THAT  REGISTRATION  IS NOT
REQUIRED FOR SUCH  TRANSFER  AND/OR THE  SUBMISSION TO THE COMPANY OF SUCH OTHER
EVIDENCE  AS MAY BE  SATISFACTORY  TO THE  COMPANY TO THE  EFFECT  THAT ANY SUCH
TRANSFER  SHALL NOT BE IN VIOLATION OF THE  SECURITIES  ACT OF 1933, AS AMENDED,
AND/OR   APPLICABLE   STATE  SECURITIES  LAWS  AND/OR  ANY  RULE  OR  REGULATION
PROMULGATED THEREUNDER.

                                     WARRANT

                                                                   Warrant No. 8

      THIS  CERTIFIES  THAT, for value  received,  the Holder is entitled at any
time during the Exercise  Period (as such term and other  capitalized  terms are
defined in Article 1), subject to the terms and conditions set forth herein,  to
purchase from Parallel Technologies, Inc., a Nevada corporation (the "Company"),
123,958.33  shares of Common Stock (subject to adjustment as provided herein) at
the  Warrant  Price,  all  on the  terms  and  conditions  and  pursuant  to the
provisions hereinafter set forth.

1. DEFINITIONS.

      As used in this Warrant,  the following terms have the respective meanings
set forth below:

      "Applicable Law" shall mean all laws, rules and regulations  applicable to
the Person, conduct, action or covenant in question,  including, but not limited
to,  all  applicable  common  law,  civil  law  and  equitable  principles,  all
provisions of all applicable state, federal or foreign constitutions,  statutes,
rules,  regulations and orders of governmental bodies, and all orders, judgments
and decrees of all courts and arbitrators.

      "Commission" shall mean the U.S. Securities and Exchange Commission or any
other federal  agency then  administering  the  Securities Act and other federal
securities laws.

      "Common Stock" shall mean the common stock,  par value $.006 per share, of
the Company and any capital  stock into which such common  stock shall have been
changed and any other stock  resulting from any  reclassification  of such stock
which is not  preferred  as to dividends or assets over any other class of stock
which shall be in effect from time to time.

      "Dalian  Tongfa"  shall mean  Dalian  Tongfa  New  Materials  Science  and
Technology  Co.,  Ltd.,  a  company  organized  under  the laws of the  People's
Republic of China.

      "Designated Office" shall have the meaning set forth in Article 7.

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      "Exercise  Period" shall mean the period commencing on the date hereof and
ending at 5:00 p.m., local time, on the fifth anniversary of the date hereof (or
such earlier date pursuant to Section 2.5).

      "Exercise  Price" shall mean $3.67,  subject to  adjustment as provided in
Article 3.

      "GAAP" shall mean United States generally accepted  accounting  principles
as in  effect  as of the  date  of any  document  purported  to be  prepared  in
accordance with GAAP.

      "Holder"  shall mean the person  executing this Warrant on the date hereof
of such Holder's transferee as permitted hereby.

      "Notice of Exercise" shall mean the form of Notice of Exercise attached as
Exhibit A.

      "Person"   shall   mean   any   natural   person,   corporation,   entity,
unincorporated   organization,   trust,   joint-stock  company,  joint  venture,
association,  company,  limited or general  partnership,  any  government or any
agency or political subdivision of any government.

      "Restricted  Common Stock" shall mean shares of Common Stock which are, or
which upon their issuance on the exercise of this Warrant would be, evidenced by
a certificate bearing the restrictive legend set forth in Section 4.3.

      "Securities Act" shall mean the Securities Act of 1933, as amended, or any
similar  federal  statute,  and the  rules  and  regulations  of the  Commission
thereunder, all as the same shall be in effect at the time.

      "Transfer"  shall  mean any  disposition  of the  Warrant  Stock or of any
interest  therein,  which would  constitute a sale thereof within the meaning of
the Securities Act.

      "Trading  Price" shall mean (a) if the Common Stock is actively  traded on
any national  securities exchange or any Nasdaq quotation or market system, then
the closing  price of the Common Stock on the  applicable  date,  and (b) if the
shares of Common Stock are not actively  traded on any such  exchange or system,
then the  arithmetic  mean of the bid and asked  prices of a share of the Common
Stock on the applicable over-the-counter system, Pink Sheets or otherwise.

      "Warrant"  shall mean this Warrant and all warrants  issued upon transfer,
division or combination of, or in substitution for, this Warrant.

      "Warrant  Price" shall mean an amount equal to (a) the number of shares of
Common Stock being  purchased upon exercise of this Warrant  pursuant to Section
2.2, multiplied by (b) the Exercise Price as of the date of such exercise.

      "Warrant Stock" shall mean the shares of Common Stock issued,  issuable or
both (as the  context  may  require)  to the  Holder  of this  Warrant  upon the
exercise thereof.

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2. RIGHTS GRANTED; EXERCISE OF WARRANT.

      2.1.  Right of  Exercise.  Subject to  Section  9.1,  the Holder  shall be
entitled to exercise  this  Warrant at any time and from time to time during the
Exercise Period.

      2.2.  Manner of  Exercise.  Subject  to the terms and  conditions  of this
Warrant,  the Holder shall have the right to exercise  this  Warrant  during the
Exercise  Period,  in whole or in part,  by  delivering  to the  Company  at the
Designated  Office  (a) a Notice  of  Exercise,  duly  executed  by the  Holder,
specifying the number of shares of Common Stock to be purchased,  (b) payment of
the Warrant Price by cash,  certified or official bank check,  (c) this Warrant.
Upon receipt  thereof,  the Company shall, as promptly as practicable (but in no
event later than five days  thereafter),  execute (or cause to be executed)  and
deliver (or cause to be delivered) to the Holder a certificate  or  certificates
representing  the aggregate  number of full shares of Common Stock issuable upon
such exercise.  The  certificate or  certificates  so delivered shall be, to the
extent  possible,  in such  denomination  or  denominations  as the Holder shall
request in the Notice of  Exercise  and shall be  registered  in the name of the
Holder or such other name as shall be designated in the Notice of Exercise. This
Warrant  shall  be  deemed  to have  been  exercised  and  such  certificate  or
certificates  shall be deemed to have been  issued,  and the  Holder  and/or any
other Person so  designated to be named therein shall be deemed to have become a
holder of  record  of such  shares  for all  purposes,  as of the date the items
specified in clauses (a) through (c) above are received by the Company.  If this
Warrant shall have been  exercised in part,  the Company  shall,  at the time of
delivery of the  certificate or certificates  representing  the shares of Common
Stock being issued, deliver to the Holder a new warrant evidencing the rights of
the Holder to purchase the unpurchased shares of Common Stock called for by this
Warrant,  which new warrant shall in all other  respects be identical  with this
Warrant,  or, at the request of the Holder,  appropriate notation may be made on
this Warrant and the same returned to the Holder.

      2.3.  Payment of Taxes.  The issuance of a certificate or certificates for
shares of Common  Stock upon  exercise  of this  Warrant  shall be made  without
charge for any stamp or other similar tax in respect of such issuance.

      2.4.  Fractional  Shares.  The  Company  shall  not be  required  to issue
fractions  of  shares  of Common  Stock  upon  exercise  of this  Warrant  or to
distribute certificates which evidence fractional shares of Common Stock. If the
exercise of this Warrant  would result in a fractional  share of Common Stock or
the right to acquire a fractional  share of Common Stock,  such fractional share
shall be disregarded  and the number of shares of Common Stock issuable upon the
exercise of this Warrant shall be rounded up or down to the nearest whole share.
The Holder  expressly  waives his right to receive  any  fractional  shares upon
exercise of this Warrant.

      2.5 Call Rights.  The Company shall have the right to call the exercise of
all, but not less than all, of this Warrant  outstanding  and unexercised at the
Exercise  Price in the event (a) the Company  delivers to the Holder (i) a fully
executed   agreement  to   effectively   acquire  all  of,   respectively,   the
then-outstanding  shares of stock (or other equity  securities) of Dalian Tongfa
and the  combined  voting power of the  then-outstanding  voting  securities  of
Dalian  Tongfa  generally  entitled  to vote in the  election of  directors  (or
similar  supervisory body) for no more than $9,500,000,  and (ii) balance sheets
and  statements  of income,  changes in  stockholders'  equity and cash flow for
Dalian Tongfa's two most recent fiscal years and all fiscal quarters  thereafter

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prepared in  accordance  with GAAP and audited by an  international  independent
registered  public  accounting firm  acceptable to Chinamerica,  LP, in its sole
discretion, which financial statements reflect a net income for Dalian Tongfa of
at  least  $2,000,000  for the  previous  fiscal  year and all  fiscal  quarters
thereafter  and which  financial  statements  are adequate for  inclusion in the
Company's periodic filings with the Commission,  or (b) the Trading Price of the
Company's Common Stock exceeds $10.00 per share for 10 consecutive trading days.
Upon the  Company's  delivery of such written  notice,  the Holder shall have 30
days  following  the delivery of the written  notice to exercise this Warrant in
full (to the extent  not  previously  exercised).  Upon the  expiration  of such
30-day  period,  this  Warrant  shall  automatically  expire to the  extent  not
otherwise exercised within that period.

3. ADJUSTMENTS AND ANTI-DILUTION PROVISIONS.

      3.1.  Adjustment  for  Change in  Capital  Stock.  The number of shares of
Common Stock subject to this Warrant is intended to reflect the number of shares
of Common Stock the Holder would  receive  following  the reverse stock split of
the Common Stock  authorized by the Board of Directors and majority  shareholder
of the  Company on  December  5, 2005.  In the event of any change in the Common
Stock  of  the  Company  by  reason  of  any  combination,  subdivision,  split,
reclassification,  stock  dividend or any similar  change  affecting  the Common
Stock,  then in any such  event the  number  and kind of shares of Common  Stock
subject to this Warrant and the Exercise Price shall be adjusted, in such manner
as the Board of Directors  determines  in good faith to prevent  dilution of the
rights granted to the Holder; provided, that, if this Warrant is exercised prior
to the  occurrence  of the reverse  stock  split of the  Company (as  referenced
above),  then the Holder  shall  receive a pre-split  number of shares of Common
Stock  based on the ratio (as may be  adjusted)  for such  reverse  stock  split
(without  any  additional  Exercise  Price being paid) and the number  shares of
Common Stock  subject to this Warrant  shall be adjusted so that  following  the
reverse  stock  split the Holder  would have the same number of shares of Common
Stock as is originally  subject to this  Warrant.  The  adjustment  shall become
effective  immediately  after  the  record  date in the  case of a  dividend  or
distribution  and  immediately  after  the  effective  date  in  the  case  of a
subdivision,  combination or  reclassification.  Such  adjustment  shall be made
successively whenever any event listed above shall occur.

      3.2.  Reorganization  of  Company.  If at any time while  this  Warrant is
outstanding  and unexpired there shall be (a) a  reorganization  of the Company,
(b) a merger or  consolidation  of the Company  with or into  another  entity in
which the Company is not the surviving entity, or a reverse triangular merger in
which the  Company  is the  surviving  entity  but the  shares of the  Company's
capital  stock  outstanding  immediately  prior to the merger are  converted  by
virtue of the merger  into other  property,  whether in the form of  securities,
cash or  otherwise,  or (c) a sale or transfer of the Company's  properties  and
assets as, or substantially as, an entirety to any other Person, then lawful and
adequate  provision  will be made  whereby the Holder will  thereafter  have the
right to purchase and receive  upon the basis and upon the terms and  conditions
specified  in this  Warrant  and in lieu of the  shares of  Common  Stock of the
Company immediately  theretofore purchasable and receivable upon the exercise of
this  Warrant,  the kind and  amount of stock and other  securities  and  assets
(including, without limitation, cash) receivable upon such merger, consolidation
or sale by a holder of the  number of  shares  of  Common  Stock of the  Company

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<PAGE>

deliverable upon the exercise of this Warrant  immediately prior to such merger,
consolidation  or sale. In any such case,  appropriate  provisions  will be made
with  respect  to the  rights  and  interests  of the Holder to the end that the
provisions hereof (including, without limitation,  provisions for adjustments of
the Exercise Price and of the number of shares of Common Stock  purchasable upon
the exercise of this Warrant) will  thereafter be  applicable,  as nearly as may
be, in the good faith determination of the Board of Directors in relation to any
shares of stock,  securities or assets thereafter  deliverable upon the exercise
hereof.  The foregoing  provisions of this Section 3.2 shall  similarly apply to
successive reorganizations,  mergers,  consolidations and sales and to the stock
or  securities  of any other  Person  that are at the time  receivable  upon the
exercise of this Warrant. If this Section 3.2 applies to a transaction,  Section
3.1  shall  not  apply  to such  transaction.  Notwithstanding  anything  to the
contrary  herein,  and  for so  long as this  Warrant  remains  outstanding,  no
reorganization,  merger or consolidation of or with the Company may occur if, as
a result,  the shares of Common Stock of the Company would cease to be listed or
traded on a national securities exchange, any Nasdaq quotation or market system,
over-the-counter system or the Pink Sheets.

      3.3. Notice of Adjustment. Whenever an adjustment is made pursuant to this
Section 3, the Company shall  promptly mail to the Holder a notice setting forth
the Exercise Price after such  adjustment and setting forth a brief statement of
the facts requiring such  adjustment.  Such  certificate  prepared in good faith
shall be  conclusive  evidence  of the  correctness  of such  adjustment  absent
manifest error.

      3.4. When No Adjustment Required.  No adjustment need be made for a change
in the par value or no par value of the Common Stock.

4. RESTRICTIONS ON TRANSFER AND COMPLIANCE WITH SECURITIES LAWS.

      4.1  Agreement to Be Bound.  The Holder,  by  acceptance  of this Warrant,
agrees to be bound by the  provisions  of this  Article 4. This  Warrant  may be
transferred by the Holder subject only to compliance with applicable federal and
state  securities  laws.  Nothing in this  Warrant  shall  prevent a Holder from
pledging, placing a lien on or otherwise encumbering this Warrant or the Warrant
Stock.

      4.2.  Compliance  with the  Securities  Act.  This Warrant and the Warrant
Stock have not been registered  under the Securities Act or any applicable state
securities  law.  The Holder  hereof,  by  acceptance  hereof,  agrees that this
Warrant and all shares  purchased upon exercise  hereof will be disposed of only
in  accordance  with the  Securities  Act and the rules and  regulations  of the
Commission promulgated thereunder or of any applicable state securities law.

      4.3. Restrictive Legends.  Except as otherwise provided in this Article 4,
each  certificate for Warrant Stock  initially  issued upon the exercise of this
Warrant,  and each  certificate  for  Warrant  Stock  issued  to any  subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with
a legend in substantially the following form:

      "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
      THE  SECURITIES  ACT OF 1933, AS AMENDED (THE  "SECURITIES  ACT"),  OR ANY
      STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED,  HYPOTHECATED
      OR  OTHERWISE  TRANSFERRED  OR DISPOSED  OF,  EXCEPT UPON  DELIVERY TO THE
      COMPANY  OF AN  OPINION  OF  COUNSEL  SATISFACTORY  TO  THE  COMPANY  THAT
      REGISTRATION  IS NOT REQUIRED FOR SUCH TRANSFER  AND/OR THE  SUBMISSION TO

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<PAGE>

      THE COMPANY OF SUCH OTHER EVIDENCE AS MAY BE  SATISFACTORY  TO THE COMPANY
      TO THE EFFECT  THAT ANY SUCH  TRANSFER  SHALL NOT BE IN  VIOLATION  OF THE
      SECURITIES ACT OF 1933, AS AMENDED,  AND/OR  APPLICABLE  STATE  SECURITIES
      LAWS AND/OR ANY RULE OR REGULATION PROMULGATED THEREUNDER."

5. RESERVATION AND AUTHORIZATION OF COMMON STOCK.

      From and after the date of this  Warrant,  the Company  shall at all times
reserve and keep  available  for issuance upon the exercise of this Warrant such
number  of its  authorized  but  unissued  shares  of  Common  Stock  as will be
sufficient to permit the exercise in full of this Warrant.  All shares of Common
Stock issuable  pursuant to the terms hereof,  when issued upon exercise of this
Warrant with payment therefor in accordance with the terms hereof, shall be duly
and validly issued and fully paid and nonassessable.

6. THEFT, LOSS, DESTRUCTION.

      Upon  receipt  by the  Company  from the  Holder  of  evidence  reasonably
satisfactory  to it of the  ownership  of and the loss,  theft,  destruction  or
mutilation of this Warrant and an indemnity  reasonably  satisfactory to it and,
in case of mutilation,  upon surrender and cancellation hereof, the Company will
execute  and  deliver in lieu  hereof a new Warrant of like tenor to the Holder;
provided,  however, in the case of mutilation, no indemnity shall be required if
this  Warrant  in   identifiable   form  is   surrendered  to  the  Company  for
cancellation.

7. OFFICE OF THE COMPANY.

      As long as this Warrant remains outstanding, the Company shall maintain an
office or agency, which may be the principal executive offices of the Company or
the offices of the  transfer  agent of the Company  (the  "Designated  Office"),
where this  Warrant may be presented  for  exercise,  registration  of transfer,
division or  combination  as provided in this Warrant.  Such  Designated  Office
shall  initially be the  principal  office of the Company at 558 Lime Rock Road,
Lakeville, Connecticut 06039; thereafter, such office shall be the office of the
Company or of an agency  designated by the Company in a notice  delivered to the
Holder.

8. NO SHAREHOLDER RIGHTS.

      Prior to the exercise of this  Warrant,  the Holder of this Warrant  shall
not be entitled to any rights of a shareholder of the Company solely as a result
of this Warrant,  including,  without limitation, the rights to vote, to receive
dividends  or other  distributions,  and shall not be  entitled  to receive  any
notice of any proceedings of the Company except as provided herein.

9. MISCELLANEOUS.

      9.1.  Termination  of Warrant.  Except  those  rights which by their terms
specifically  extend  beyond,  or  terminate  prior to, the end of the  Exercise
Period,  this Warrant and all rights granted herein,  to the extent those rights
have not lapsed or been  exercised,  will  terminate and become null and void at
the end of the Exercise Period or as otherwise specifically provided herein.

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<PAGE>

      9.2.  Notices.   All  notices,   requests,   demands,   claims  and  other
communications  under this  Warrant  shall be in writing.  Any notice,  request,
demand,  claim or other  communication  hereunder  shall be deemed duly given if
(and then two business  days after) it is sent by (a) confirmed  facsimile;  (b)
overnight  delivery;  or  (c)  registered  or  certified  mail,  return  receipt
requested, postage prepaid, and addressed to the intended recipient's address as
set forth on the signature  page hereto.  The Holder or the Company may send any
notice, request,  demand, claim or other communication hereunder to the intended
recipient at the address set forth on the signature  page hereto using any other
means  (including  personal  delivery,  expedited  courier,  messenger  service,
facsimile,  ordinary  mail or  electronic  mail),  but no such notice,  request,
demand,  claim or other  communication  shall be deemed to have been duly  given
unless and until it actually is received by the  intended  recipient;  provided,
however,  that,  if to the Company,  deliver to the  Designated  Office shall be
deemed  delivery.  The Holder or the  Company  may  change the  address to which
notices, requests,  demands, claims and other communications hereunder are to be
delivered  by giving  the other  party  notice in the  manner  provided  in this
Warrant.

      9.3.  Succession  and  Assignment.  This Warrant shall be binding upon and
inure  to the  benefit  of the  Holder  and the  Company  and  their  respective
successors  and  permitted  assigns.  The  Company  may not assign  its  rights,
interests or  obligations  hereunder  without the prior written  approval of the
Holder.

      9.4.  Severability.  Any term or provision of this Warrant that is invalid
or  unenforceable  in any  situation  in any  jurisdiction  shall not affect the
validity or  enforceability  of the remaining terms and provisions hereof or the
validity or  enforceability  of the  offending  term or  provision  in any other
situation or in any other jurisdiction.

      9.5.  Headings.  The headings used in this Warrant are for the convenience
of  reference  only and shall  not,  for any  purpose,  be deemed a part of this
Warrant.

      9.6.  Governing  Law.  This Warrant  shall be governed by and construed in
accordance with the domestic laws of the State of Texas without giving effect to
any choice or conflict of law  provision or rule  (whether of the State of Texas
or any other  jurisdiction)  that would cause the application of the laws of any
jurisdiction  other than the State of Texas. Any legal action or proceeding with
respect to this  Warrant  shall be brought in any Texas state or federal  court,
and,  by  execution  and  delivery of this  Warrant,  the Holder and the Company
hereby accept for  themselves  and in respect of their  property,  generally and
unconditionally,  the jurisdiction of the aforesaid  courts.  The Holder and the
Company hereby irrevocably waive any objection,  including,  without limitation,
any  objection  to the  laying  of venue or based on the  grounds  of forum  non
conveniens,  which they may now or  hereafter  have to the  bringing of any such
action or proceeding in such respective jurisdictions.

                  (Remainder of page intentionally left blank)

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<PAGE>

      IN  WITNESS  WHEREOF,  the  Company  has  caused  this  Warrant to be duly
executed by its authorized officer on this ____ day of December 2005.

                                        PARALLEL TECHNOLOGIES, INC.

                                        By:
                                            ------------------------------------
                                        Name: Li Fu
                                        Title: Chief Executive Officer
                                        Address: 558 Lime Rock Road
                                        Lakeville, Connecticut 06039
                                        Telephone No.: 860-435-7000
                                        Facsimile No.: 860-435-6540

Accepted and Agreed to by Holder:

LAKE STREET FUND LP

By:
    --------------------------------------
Name:
      ------------------------------------
Title:
       -----------------------------------
Address:
         -----------------------------
Telephone No.:
               -----------------------
Facsimile No.:
               -----------------------

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                                    EXHIBIT A

                             NOTICE OF EXERCISE FORM

    (To be executed only upon partial or full exercise of the within Warrant)

      The  undersigned  Holder of the within Warrant  irrevocably  exercises the
within Warrant for and purchases _______ shares of Common Stock, par value $.006
per share ("Common Stock"), of Parallel Technologies, Inc., a Nevada corporation
(the  "Company"),   and  herewith  makes  payment  therefor  in  the  amount  of
$___________,  all at the price and on the terms and conditions specified in the
within Warrant and requests that a certificate (or  ___________  certificates in
denominations of _________ shares) for the shares of Common Stock of the Company
hereby  purchased be issued in the name of and delivered to (choose one) (a) the
undersigned or (b) ________, whose address is  ________________________________,
and, if such  shares of Common  Stock shall not include all the shares of Common
Stock  issuable as provided  in the within  Warrant,  that a new Warrant of like
tenor  for the  number  of  shares  of  Common  Stock of the  Company  not being
purchased  hereunder be issued in the name of and  delivered to (choose one) (a)
the undersigned or (b) _________, whose address is .

      The  undersigned  is aware that the Common  Stock has not been  registered
under the  Securities  Act of 1933, as amended (the  "Securities  Act"),  or any
state  securities  laws. The  undersigned  understands  that the reliance by the
Company on exemptions  under the  Securities  Act is predicated in part upon the
truth and accuracy of the statements of the undersigned.

      The undersigned consents to the placing of a legend on its certificate for
the Common Stock  stating that the Common Stock has not been  registered  and to
the  placing of a stop  transfer  order on the books of the Company and with any
transfer  agents against the shares until the Common Stock may be legally resold
or distributed without restriction.

                                      By:
                                          --------------------------------------
                                      Name:
                                            ------------------------------------
                                      Title:
                                             -----------------------------------
                                      Date:
                                            ------------------------------------THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. THEY MAY NOT BE SOLD,
      OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT
      PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
      OF 1933, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
      REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO
      RULE 144 UNDER SUCH ACT.

                        WARRANT TO PURCHASE COMMON STOCK
                                       of
                           PARALLEL TECHNOLOGIES, INC.

      This Warrant (the "Warrant") is issued to Glenn A. Little ("Holder") by
Parallel Technologies, Inc., a Nevada Corporation (the "Company"), on
December__, 2005 (the "Warrant Issue Date") for the consideration stated in the
Consulting Agreement between the Company and Holder dated December __, 2005,
receipt of which is hereby acknowledged.

      1. Purchase Shares. Subject to the terms and conditions hereinafter set
forth, the Holder is entitled, upon surrender of this Warrant at the principal
office of the Company (or at such other place as the Company shall notify the
Holder hereof in writing), to purchase from the Company such number of shares of
Common Stock of the Company, par value $0.006 per share (the "Common Stock"),
equals to 4% of the total outstanding shares of Common Stock of the Company
immediately following the reverse split of the Common Stock authorized by the
Board of Directors and majority shareholder of the Company on December 5, 2005
(the "Warrant Shares") at the Exercise Price (defined below), subject to
adjustment as provided in Section 7 below.

      2. Exercise Price. The exercise price for the Warrant Shares shall be
$0.01 per Warrant Share, as adjusted from time to time pursuant to Section 8
hereof (the "Exercise Price").

      3. Exercise Period. This Warrant shall be exercisable, in whole or in
part, during the term commencing on the Warrant Issue Date and ending on the
earlier of (i) the fifth anniversary of the date hereof, (ii) immediately
preceding a Change of Control. The term "Change of Control" shall mean (a) the
acquisition of the Company pursuant to a consolidation of the Company with or
merger of the Company with or into any other person in which the Company is not
the surviving corporation (other than a reincorporation);(b) the sale of all or
substantially all of the assets of the Company to any other person. In the event
of a Change of Control, the Company shall provide the Holder with thirty (30)
days' prior written notice of the event constituting the Change of Control.
Further, in the event of a Change of Control whereby (i) the consideration to be
received by Holder in the event of Change of Control in respect of the Common
Stock exceeds the exercise price of the Warrant, and (ii) Holder has not
notified the Company of Holder's intent to exercise the Warrant within the 30
days' notice provision contained in this Section 3, then, the Warrant shall be
deemed automatically exercised as of the closing of the event constituting the
Change of Control.

                                       1
<PAGE>

      4. Method of Exercise. While this Warrant remains outstanding and
exercisable in accordance with Section 3 above, the Holder may exercise, in
whole or in part, the purchase rights evidenced hereby. Such exercise shall be
effected by:

            (a) the surrender of the Warrant, together with a duly executed copy
      of the form of Notice of Exercise attached hereto, to the Secretary of the
      Company at its principal offices; and

            (b) the payment to the Company of an amount equal to the aggregate
      Exercise Price for the number of Warrant Shares being purchased.

      5. Certificates for Shares. Upon the exercise of the purchase rights
evidenced by this Warrant, one or more certificates for the number of Warrant
Shares so purchased shall be issued as soon as practicable thereafter (with
appropriate restrictive legends, if applicable), and in any event within thirty
(30) days of the delivery of the notice of exercise.

      6. Issuance of Shares. The Company covenants that the Warrant Shares, when
issued pursuant to the exercise of this Warrant, will be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens, and charges
with respect to the issuance thereof.

      7. Adjustment of Exercise Price and Kind and Number of Shares. The number
and kind of securities purchasable upon exercise of this Warrant and the
Exercise Price shall be subject to adjustment from time to time as follows:

            (a) Subdivisions, Combinations and Other Issuances. If the Company
      shall at any time prior to the expiration of this Warrant (i) subdivide
      its Common Stock, by split-up or otherwise, or combine its Common Stock,
      (ii) issue additional shares of its Common Stock or other equity
      securities as a dividend with respect to any shares of its Common Stock,
      or (iii) declare a cash dividend with respect to any shares of its Common
      Stock, the number of shares of Common Stock issuable on the exercise of
      this Warrant shall forthwith be proportionately increased in the case of a
      subdivision or stock or cash dividend, or proportionately decreased in the
      case of a combination. Appropriate adjustments shall also be made to the
      purchase price payable per share, but the aggregate purchase price payable
      for the total number of Warrant Shares purchasable under this Warrant (as
      adjusted) shall remain the same. Any adjustment under this Section 8(a)
      shall become effective at the close of business on the date the
      subdivision or combination becomes effective, or as of the record date of
      such dividend, or in the event that no record date is fixed, upon the
      making of such dividend.

            (b) Reclassification, Reorganization and Consolidation. In case of
      any reclassification, capital reorganization, or change in the Common
      Stock of the Company (other than as a result of a subdivision,
      combination, or stock dividend provided for in Section 7(a) above), then,
      as a condition of such reclassification, reorganization, or change, lawful
      provision shall be made, and duly executed documents evidencing the

                                       2
<PAGE>

      same from the Company or its successor shall be delivered to the Holder,
      so that the Holder shall have the right at any time prior to the
      expiration of this Warrant to purchase, at a total price equal to that
      payable upon the exercise of this Warrant (subject to adjustment of the
      Exercise Price as provided in Section 7), the kind and amount of shares of
      stock and other securities and property receivable in connection with such
      reclassification, reorganization, or change by a Holder of the same number
      of shares of Common Stock as were purchasable by the Holder immediately
      prior to such reclassification, reorganization, or change. In any such
      case appropriate provisions shall be made with respect to the rights and
      interest of the Holder so that the provisions hereof shall thereafter be
      applicable with respect to any shares of stock or other securities and
      property deliverable upon exercise hereof, and appropriate adjustments
      shall be made to the purchase price per share payable hereunder, provided
      the aggregate purchase price shall remain the same.

            (c) Notice of Adjustment. When any adjustment is required to be made
      in the number or kind of shares purchasable upon exercise of the Warrant,
      or in the Exercise Price, the Company shall promptly notify the Holder of
      such event and of the number of shares of Common Stock or other securities
      or property thereafter purchasable upon exercise of this Warrant.

            (d) Issuance of New Warrant. Upon the occurrence of any of the
      events listed in this Section 7 that results in an adjustment of the type,
      number or exercise price of the securities underlying this Warrant, the
      Holder shall have the right to receive a new warrant reflecting such
      adjustment upon the Holder tendering this Warrant in exchange. The new
      warrant shall otherwise have terms identical to this Warrant.

      8. Reservation of Shares. Pursuant to the terms and conditions of this
Warrant, Company shall reserve an appropriate number of shares of Company's
Common Stock to facilitate the issuance of Warrant Shares to Holder pursuant to
this Warrant.

      9. No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant, but in lieu of such fractional shares the Company shall make a cash
payment therefor on the basis of the Exercise Price then in effect.

      10. No Stockholder Rights. Prior to exercise of this Warrant, the Holder
shall not be entitled to any rights of a stockholder with respect to the shares
of Common Stock issuable on the exercise hereof, including (without limitation)
the right to vote such shares of Common Stock, receive dividends or other
distributions thereon, exercise preemptive rights or be notified of stockholder
meetings, and such Holder shall not be entitled to any notice or other
communication concerning the business or affairs of the Company. However,
nothing in this Section 10 shall limit the right of the Holder to be provided
the Notices required under this Warrant.

      11. Successors and Assigns. The terms and provisions of this Warrant shall
inure to the benefit of, and be binding upon, the Company and the Holder and
their respective successors and assigns.

                                       3
<PAGE>

      12. Notices. All notices required under this Warrant shall be deemed to
have been given or made for all purposes (i) upon personal delivery, (ii) one
day after being sent, when sent by professional overnight courier service, or
(iii) five days after posting when sent by registered or certified mail. Notices
to the Company shall be sent to the principal office of the Company (or at such
other place as the Company shall notify the Holder hereof in writing). Notices
to the Holder shall be sent to the address of the Holder on the books of the
Company (or at such other place as the Holder shall notify the Company hereof in
writing).

      13. Captions. The section and subsection headings of this Warrant are
inserted for convenience only and shall not constitute a part of this Warrant in
construing or interpreting any provision hereof.

      14. Governing Law. This Warrant shall be governed by the laws of the State
of New York as applied to agreements among New York residents made and to be
performed entirely within the State of New York.

      IN WITNESS WHEREOF, Parallel Technologies, Inc. caused this Warrant to be
executed by an officer thereunto duly authorized.

                                    PARALLEL TECHNOLOGIES, INC.

                                    By:
                                        --------------------------------------
                                    Name: Li Fu
                                    Title: Chief Executive Officer
                                    Address: 558 Lime Rock Road
                                    Lakeville, Connecticut 06039
                                    Telephone No.: 860-435-7000
                                    Facsimile No.:  860-435-6540

                                       4
<PAGE>

                               NOTICE OF EXERCISE

To:_________________

            The undersigned hereby elects to purchase _________________ shares
of Common Stock of Parallel Technologies, Inc., pursuant to the terms of the
attached Warrant and payment of the Exercise Price per share required under such
Warrant accompanies this notice.

            The undersigned hereby represents and warrants that the undersigned
is acquiring such shares for its own account for investment purposes only, and
not for resale or with a view to distribution of such shares or any part
thereof.

                                    WARRANTHOLDER:

                                    ________________________________________
                                    By:
                                    Name:
                                    Address: _______________________________
                                    ________________________________________
                                    Date:  _________________________________
                                    Name in which shares should be
                                    registered:_____________________

                                       5

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