Document:

EXHIBIT 4.29

            THIS WARRANT AND THE SHARES ISSUABLE UPON THE EXERCISE
            OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE
            SECURITIES ACT OF 1933, AS AMENDED. EXCEPT AS OTHERWISE
            SET FORTH HEREIN OR IN A SECURITIES PURCHASE AGREEMENT
            DATED AS OF NOVEMBER 30, 2004, NEITHER THIS WARRANT NOR
            ANY OF SUCH SHARES MAY BE SOLD, TRANSFERRED OR ASSIGNED
            IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
            FOR SUCH SECURITIES UNDER SAID ACT OR, AN OPINION OF
            COUNSEL, IN FORM, SUBSTANCE AND SCOPE, CUSTOMARY FOR
            OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS, THAT
            REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS
            SOLD PURSUANT TO RULE 144 OR REGULATION S UNDER SUCH
            ACT.

                                                       Right to Purchase 48,000
                                                       Shares of Common Stock,
                                                       par value $.001 per share

                             STOCK PURCHASE WARRANT

      THIS CERTIFIES THAT, for value received, AJW PARTNERS, LLC or its
registered assigns, is entitled to purchase from Sharp Holding Corporation, a
Delaware corporation (the "Company"), at any time or from time to time during
the period specified in Paragraph 2 hereof, Forty-Eight Thousand (48,000) fully
paid and nonassessable shares of the Company's Common Stock, par value $.001 per
share (the "Common Stock"), at an exercise price per share equal to $.17 (the
"Exercise Price"). The term "Warrant Shares," as used herein, refers to the
shares of Common Stock purchasable hereunder. The Warrant Shares and the
Exercise Price are subject to adjustment as provided in Paragraph 4 hereof. The
term "Warrants" means this Warrant and the other warrants issued pursuant to
that certain Securities Purchase Agreement, dated November 30, 2004, by and
among the Company and the Buyers listed on the execution page thereof (the
"Securities Purchase Agreement"), including any additional warrants issuable
pursuant to Section 4(l) thereof.

      This Warrant is subject to the following terms, provisions, and
conditions:

      1. MANNER OF EXERCISE; ISSUANCE OF CERTIFICATES; PAYMENT FOR SHARES.
Subject to the provisions hereof, this Warrant may be exercised by the holder
hereof, in whole or in part, by the surrender of this Warrant, together with a
completed exercise agreement in the form attached hereto (the "Exercise
Agreement"), to the Company during normal business hours on any business day at
the Company's principal executive offices (or such other office or agency of the
Company as it may designate by notice to the holder hereof), and upon (i)
payment to the Company in cash, by certified or official bank check or by wire

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transfer for the account of the Company of the Exercise Price for the Warrant
Shares specified in the Exercise Agreement or (ii) if the resale of the Warrant
Shares by the holder is not then registered pursuant to an effective
registration statement under the Securities Act of 1933, as amended (the
"Securities Act"), delivery to the Company of a written notice of an election to
effect a "Cashless Exercise" (as defined in Section 11(c) below) for the Warrant
Shares specified in the Exercise Agreement. The Warrant Shares so purchased
shall be deemed to be issued to the holder hereof or such holder's designee, as
the record owner of such shares, as of the close of business on the date on
which this Warrant shall have been surrendered, the completed Exercise Agreement
shall have been delivered, and payment shall have been made for such shares as
set forth above. Certificates for the Warrant Shares so purchased, representing
the aggregate number of shares specified in the Exercise Agreement, shall be
delivered to the holder hereof within a reasonable time, not exceeding three (3)
business days, after this Warrant shall have been so exercised. The certificates
so delivered shall be in such denominations as may be requested by the holder
hereof and shall be registered in the name of such holder or such other name as
shall be designated by such holder. If this Warrant shall have been exercised
only in part, then, unless this Warrant has expired, the Company shall, at its
expense, at the time of delivery of such certificates, deliver to the holder a
new Warrant representing the number of shares with respect to which this Warrant
shall not then have been exercised. In addition to all other available remedies
at law or in equity, if the Company fails to deliver certificates for the
Warrant Shares within three (3) business days after this Warrant is exercised,
then the Company shall pay to the holder in cash a penalty (the "Penalty") equal
to 2% of the number of Warrant Shares that the holder is entitled to multiplied
by the Market Price (as hereinafter defined) for each day that the Company fails
to deliver certificates for the Warrant Shares. For example, if the holder is
entitled to 100,000 Warrant Shares and the Market Price is $2.00, then the
Company shall pay to the holder $4,000 for each day that the Company fails to
deliver certificates for the Warrant Shares. The Penalty shall be paid to the
holder by the fifth day of the month following the month in which it has
accrued.

      Notwithstanding anything in this Warrant to the contrary, in no event
shall the holder of this Warrant be entitled to exercise a number of Warrants
(or portions thereof) in excess of the number of Warrants (or portions thereof)
upon exercise of which the sum of (i) the number of shares of Common Stock
beneficially owned by the holder and its affiliates (other than shares of Common
Stock which may be deemed beneficially owned through the ownership of the
unexercised Warrants and the unexercised or unconverted portion of any other
securities of the Company (including the Notes (as defined in the Securities
Purchase Agreement)) subject to a limitation on conversion or exercise analogous
to the limitation contained herein) and (ii) the number of shares of Common
Stock issuable upon exercise of the Warrants (or portions thereof) with respect
to which the determination described herein is being made, would result in
beneficial ownership by the holder and its affiliates of more than 4.9% of the
outstanding shares of Common Stock. For purposes of the immediately preceding
sentence, beneficial ownership shall be determined in accordance with Section
13(d) of the Securities Exchange Act of 1934, as amended, and Regulation 13D-G
thereunder, except as otherwise provided in clause (i) of the preceding
sentence. Notwithstanding anything to the contrary contained herein, the
limitation on exercise of this Warrant set forth herein may not be amended
without (i) the written consent of the holder hereof and the Company and (ii)
the approval of a majority of shareholders of the Company.

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      2. PERIOD OF EXERCISE. This Warrant is exercisable at any time or from
time to time on or after the date on which this Warrant is issued and delivered
pursuant to the terms of the Securities Purchase Agreement and before 6:00 p.m.,
New York, New York time on the fifth (5th) anniversary of the date of issuance
(the "Exercise Period").

      3. CERTAIN AGREEMENTS OF THE COMPANY. The Company hereby covenants and
agrees as follows:

            (a) SHARES TO BE FULLY PAID. All Warrant Shares will, upon issuance
in accordance with the terms of this Warrant, be validly issued, fully paid, and
nonassessable and free from all taxes, liens, and charges with respect to the
issue thereof.

            (b) RESERVATION OF SHARES. During the Exercise Period, the Company
shall at all times have authorized, and reserved for the purpose of issuance
upon exercise of this Warrant, a sufficient number of shares of Common Stock to
provide for the exercise of this Warrant.

            (c) LISTING. The Company shall promptly secure the listing of the
shares of Common Stock issuable upon exercise of the Warrant upon each national
securities exchange or automated quotation system, if any, upon which shares of
Common Stock are then listed (subject to official notice of issuance upon
exercise of this Warrant) and shall maintain, so long as any other shares of
Common Stock shall be so listed, such listing of all shares of Common Stock from
time to time issuable upon the exercise of this Warrant; and the Company shall
so list on each national securities exchange or automated quotation system, as
the case may be, and shall maintain such listing of, any other shares of capital
stock of the Company issuable upon the exercise of this Warrant if and so long
as any shares of the same class shall be listed on such national securities
exchange or automated quotation system.

            (d) CERTAIN ACTIONS PROHIBITED. The Company will not, by amendment
of its charter or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities, or any other voluntary action,
avoid or seek to avoid the observance or performance of any of the terms to be
observed or performed by it hereunder, but will at all times in good faith
assist in the carrying out of all the provisions of this Warrant and in the
taking of all such action as may reasonably be requested by the holder of this
Warrant in order to protect the exercise privilege of the holder of this Warrant
against dilution or other impairment, consistent with the tenor and purpose of
this Warrant. Without limiting the generality of the foregoing, the Company (i)
will not increase the par value of any shares of Common Stock receivable upon
the exercise of this Warrant above the Exercise Price then in effect, and (ii)
will take all such actions as may be necessary or appropriate in order that the
Company may validly and legally issue fully paid and nonassessable shares of
Common Stock upon the exercise of this Warrant.

            (e) SUCCESSORS AND ASSIGNS. This Warrant will be binding upon any
entity succeeding to the Company by merger, consolidation, or acquisition of all
or substantially all the Company's assets.

      4. ANTIDILUTION PROVISIONS. During the Exercise Period, the Exercise Price
and the number of Warrant Shares shall be subject to adjustment from time to
time as provided in this Paragraph 4.

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      In the event that any adjustment of the Exercise Price as required herein
results in a fraction of a cent, such Exercise Price shall be rounded up to the
nearest cent.

            (a) ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF SHARES UPON ISSUANCE
OF COMMON STOCK. Except as otherwise provided in Paragraphs 4(c) and 4(e)
hereof, if and whenever on or after the date of issuance of this Warrant, the
Company issues or sells, or in accordance with Paragraph 4(b) hereof is deemed
to have issued or sold, any shares of Common Stock for no consideration or for a
consideration per share (before deduction of reasonable expenses or commissions
or underwriting discounts or allowances in connection therewith) less than the
Market Price on the date of issuance (a "Dilutive Issuance"), then immediately
upon the Dilutive Issuance, the Exercise Price will be reduced to a price
determined by multiplying the Exercise Price in effect immediately prior to the
Dilutive Issuance by a fraction, (i) the numerator of which is an amount equal
to the sum of (x) the number of shares of Common Stock actually outstanding
immediately prior to the Dilutive Issuance, plus (y) the quotient of the
aggregate consideration, calculated as set forth in Paragraph 4(b) hereof,
received by the Company upon such Dilutive Issuance divided by the Market Price
in effect immediately prior to the Dilutive Issuance, and (ii) the denominator
of which is the total number of shares of Common Stock Deemed Outstanding (as
defined below) immediately after the Dilutive Issuance.

            (b) EFFECT ON EXERCISE PRICE OF CERTAIN EVENTS. For purposes of
determining the adjusted Exercise Price under Paragraph 4(a) hereof, the
following will be applicable:

                  (i) ISSUANCE OF RIGHTS OR OPTIONS. If the Company in any
manner issues or grants any warrants, rights or options, whether or not
immediately exercisable, to subscribe for or to purchase Common Stock or other
securities convertible into or exchangeable for Common Stock ("Convertible
Securities") (such warrants, rights and options to purchase Common Stock or
Convertible Securities are hereinafter referred to as "Options") and the price
per share for which Common Stock is issuable upon the exercise of such Options
is less than the Market Price on the date of issuance or grant of such Options,
then the maximum total number of shares of Common Stock issuable upon the
exercise of all such Options will, as of the date of the issuance or grant of
such Options, be deemed to be outstanding and to have been issued and sold by
the Company for such price per share. For purposes of the preceding sentence,
the "price per share for which Common Stock is issuable upon the exercise of
such Options" is determined by dividing (i) the total amount, if any, received
or receivable by the Company as consideration for the issuance or granting of
all such Options, plus the minimum aggregate amount of additional consideration,
if any, payable to the Company upon the exercise of all such Options, plus, in
the case of Convertible Securities issuable upon the exercise of such Options,
the minimum aggregate amount of additional consideration payable upon the
conversion or exchange thereof at the time such Convertible Securities first
become convertible or exchangeable, by (ii) the maximum total number of shares
of Common Stock issuable upon the exercise of all such Options (assuming full
conversion of Convertible Securities, if applicable). No further adjustment to
the Exercise Price will be made upon the actual issuance of such Common Stock
upon the exercise of such Options or upon the conversion or exchange of
Convertible Securities issuable upon exercise of such Options.

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                  (ii) ISSUANCE OF CONVERTIBLE SECURITIES. If the Company in any
manner issues or sells any Convertible Securities, whether or not immediately
convertible (other than where the same are issuable upon the exercise of
Options) and the price per share for which Common Stock is issuable upon such
conversion or exchange is less than the Market Price on the date of issuance,
then the maximum total number of shares of Common Stock issuable upon the
conversion or exchange of all such Convertible Securities will, as of the date
of the issuance of such Convertible Securities, be deemed to be outstanding and
to have been issued and sold by the Company for such price per share. For the
purposes of the preceding sentence, the "price per share for which Common Stock
is issuable upon such conversion or exchange" is determined by dividing (i) the
total amount, if any, received or receivable by the Company as consideration for
the issuance or sale of all such Convertible Securities, plus the minimum
aggregate amount of additional consideration, if any, payable to the Company
upon the conversion or exchange thereof at the time such Convertible Securities
first become convertible or exchangeable, by (ii) the maximum total number of
shares of Common Stock issuable upon the conversion or exchange of all such
Convertible Securities. No further adjustment to the Exercise Price will be made
upon the actual issuance of such Common Stock upon conversion or exchange of
such Convertible Securities.

                  (iii) CHANGE IN OPTION PRICE OR CONVERSION RATE. If there is a
change at any time in (i) the amount of additional consideration payable to the
Company upon the exercise of any Options; (ii) the amount of additional
consideration, if any, payable to the Company upon the conversion or exchange of
any Convertible Securities; or (iii) the rate at which any Convertible
Securities are convertible into or exchangeable for Common Stock (other than
under or by reason of provisions designed to protect against dilution), the
Exercise Price in effect at the time of such change will be readjusted to the
Exercise Price which would have been in effect at such time had such Options or
Convertible Securities still outstanding provided for such changed additional
consideration or changed conversion rate, as the case may be, at the time
initially granted, issued or sold.

                  (iv) TREATMENT OF EXPIRED OPTIONS AND UNEXERCISED CONVERTIBLE
SECURITIES. If, in any case, the total number of shares of Common Stock issuable
upon exercise of any Option or upon conversion or exchange of any Convertible
Securities is not, in fact, issued and the rights to exercise such Option or to
convert or exchange such Convertible Securities shall have expired or
terminated, the Exercise Price then in effect will be readjusted to the Exercise
Price which would have been in effect at the time of such expiration or
termination had such Option or Convertible Securities, to the extent outstanding
immediately prior to such expiration or termination (other than in respect of
the actual number of shares of Common Stock issued upon exercise or conversion
thereof), never been issued.

                  (v) CALCULATION OF CONSIDERATION RECEIVED. If any Common
Stock, Options or Convertible Securities are issued, granted or sold for cash,
the consideration received therefor for purposes of this Warrant will be the
amount received by the Company therefor, before deduction of reasonable
commissions, underwriting discounts or allowances or other reasonable expenses
paid or incurred by the Company in connection with such issuance, grant or sale.
In case any Common Stock, Options or Convertible Securities are issued or sold
for a consideration part or all of which shall be other than cash, the amount of
the consideration other than cash received by the Company will be the fair value
of such consideration, except where such consideration consists of securities,
in which case the amount of consideration received by the Company will be the
Market Price thereof as of the date of receipt. In case any Common Stock,
Options or Convertible Securities are issued in connection with any acquisition,
merger or consolidation in which the Company is the surviving corporation, the

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amount of consideration therefor will be deemed to be the fair value of such
portion of the net assets and business of the non-surviving corporation as is
attributable to such Common Stock, Options or Convertible Securities, as the
case may be. The fair value of any consideration other than cash or securities
will be determined in good faith by the Board of Directors of the Company.

                  (vi) EXCEPTIONS TO ADJUSTMENT OF EXERCISE PRICE. No adjustment
to the Exercise Price will be made (i) upon the exercise of any warrants,
options or convertible securities granted, issued and outstanding on the date of
issuance of this Warrant; (ii) upon the grant or exercise of any stock or
options which may hereafter be granted or exercised under any employee benefit
plan, stock option plan or restricted stock plan of the Company now existing or
to be implemented in the future, so long as the issuance of such stock or
options is approved by a majority of the independent members of the Board of
Directors of the Company or a majority of the members of a committee of
independent directors established for such purpose; or (iii) upon the exercise
of the Warrants.

            (c) SUBDIVISION OR COMBINATION OF COMMON STOCK. If the Company at
any time subdivides (by any stock split, stock dividend, recapitalization,
reorganization, reclassification or otherwise) the shares of Common Stock
acquirable hereunder into a greater number of shares, then, after the date of
record for effecting such subdivision, the Exercise Price in effect immediately
prior to such subdivision will be proportionately reduced. If the Company at any
time combines (by reverse stock split, recapitalization, reorganization,
reclassification or otherwise) the shares of Common Stock acquirable hereunder
into a smaller number of shares, then, after the date of record for effecting
such combination, the Exercise Price in effect immediately prior to such
combination will be proportionately increased.

            (d) ADJUSTMENT IN NUMBER OF SHARES. Upon each adjustment of the
Exercise Price pursuant to the provisions of this Paragraph 4, the number of
shares of Common Stock issuable upon exercise of this Warrant shall be adjusted
by multiplying a number equal to the Exercise Price in effect immediately prior
to such adjustment by the number of shares of Common Stock issuable upon
exercise of this Warrant immediately prior to such adjustment and dividing the
product so obtained by the adjusted Exercise Price.

            (e) CONSOLIDATION, MERGER OR SALE. In case of any consolidation of
the Company with, or merger of the Company into any other corporation, or in
case of any sale or conveyance of all or substantially all of the assets of the
Company other than in connection with a plan of complete liquidation of the
Company, then as a condition of such consolidation, merger or sale or
conveyance, adequate provision will be made whereby the holder of this Warrant
will have the right to acquire and receive upon exercise of this Warrant in lieu
of the shares of Common Stock immediately theretofore acquirable upon the
exercise of this Warrant, such shares of stock, securities or assets as may be
issued or payable with respect to or in exchange for the number of shares of
Common Stock immediately theretofore acquirable and receivable upon exercise of
this Warrant had such consolidation, merger or sale or conveyance not taken
place. In any such case, the Company will make appropriate provision to insure
that the provisions of this Paragraph 4 hereof will thereafter be applicable as
nearly as may be in relation to any shares of stock or securities thereafter
deliverable upon the exercise of this Warrant. The Company will not effect any
consolidation, merger or sale or conveyance unless prior to the consummation
thereof, the successor corporation (if other than the Company) assumes by
written instrument the obligations under this Paragraph 4 and the obligations to
deliver to the holder of this Warrant such shares of stock, securities or assets
as, in accordance with the foregoing provisions, the holder may be entitled to
acquire.

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            (f) DISTRIBUTION OF ASSETS. In case the Company shall declare or
make any distribution of its assets (including cash) to holders of Common Stock
as a partial liquidating dividend, by way of return of capital or otherwise,
then, after the date of record for determining shareholders entitled to such
distribution, but prior to the date of distribution, the holder of this Warrant
shall be entitled upon exercise of this Warrant for the purchase of any or all
of the shares of Common Stock subject hereto, to receive the amount of such
assets which would have been payable to the holder had such holder been the
holder of such shares of Common Stock on the record date for the determination
of shareholders entitled to such distribution.

            (g) NOTICE OF ADJUSTMENT. Upon the occurrence of any event which
requires any adjustment of the Exercise Price, then, and in each such case, the
Company shall give notice thereof to the holder of this Warrant, which notice
shall state the Exercise Price resulting from such adjustment and the increase
or decrease in the number of Warrant Shares purchasable at such price upon
exercise, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based. Such calculation shall be certified
by the Chief Financial Officer of the Company.

            (h) MINIMUM ADJUSTMENT OF EXERCISE PRICE. No adjustment of the
Exercise Price shall be made in an amount of less than 1% of the Exercise Price
in effect at the time such adjustment is otherwise required to be made, 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 not less than 1% of such
Exercise Price.

            (i) NO FRACTIONAL SHARES. No fractional shares of Common Stock are
to be issued upon the exercise of this Warrant, but the Company shall pay a cash
adjustment in respect of any fractional share which would otherwise be issuable
in an amount equal to the same fraction of the Market Price of a share of Common
Stock on the date of such exercise.

            (j) OTHER NOTICES. In case at any time:

                  (i) the Company shall declare any dividend upon the Common
Stock payable in shares of stock of any class or make any other distribution
(including dividends or distributions payable in cash out of retained earnings)
to the holders of the Common Stock;

                  (ii) the Company shall offer for subscription pro rata to the
holders of the Common Stock any additional shares of stock of any class or other
rights;

                  (iii) there shall be any capital reorganization of the
Company, or reclassification of the Common Stock, or consolidation or merger of
the Company with or into, or sale of all or substantially all its assets to,
another corporation or entity; or

                  (iv) there shall be a voluntary or involuntary dissolution,
liquidation or winding up of the Company;

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then, in each such case, the Company shall give to the holder of this Warrant
(a) notice of the date on which the books of the Company shall close or a record
shall be taken for determining the holders of Common Stock entitled to receive
any such dividend, distribution, or subscription rights or for determining the
holders of Common Stock entitled to vote in respect of any such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation or
winding-up and (b) in the case of any such reorganization, reclassification,
consolidation, merger, sale, dissolution, liquidation or winding-up, notice of
the date (or, if not then known, a reasonable approximation thereof by the
Company) when the same shall take place. Such notice shall also specify the date
on which the holders of Common Stock shall be entitled to receive such dividend,
distribution, or subscription rights or to exchange their Common Stock for stock
or other securities or property deliverable upon such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation, or
winding-up, as the case may be. Such notice shall be given at least 30 days
prior to the record date or the date on which the Company's books are closed in
respect thereto. Failure to give any such notice or any defect therein shall not
affect the validity of the proceedings referred to in clauses (i), (ii), (iii)
and (iv) above.

            (k) CERTAIN EVENTS. If any event occurs of the type contemplated by
the adjustment provisions of this Paragraph 4 but not expressly provided for by
such provisions, the Company will give notice of such event as provided in
Paragraph 4(g) hereof, and the Company's Board of Directors will make an
appropriate adjustment in the Exercise Price and the number of shares of Common
Stock acquirable upon exercise of this Warrant so that the rights of the holder
shall be neither enhanced nor diminished by such event.

            (l) CERTAIN DEFINITIONS.

                  (i) "COMMON STOCK DEEMED OUTSTANDING" shall mean the number of
shares of Common Stock actually outstanding (not including shares of Common
Stock held in the treasury of the Company), plus (x) pursuant to Paragraph
4(b)(i) hereof, the maximum total number of shares of Common Stock issuable upon
the exercise of Options, as of the date of such issuance or grant of such
Options, if any, and (y) pursuant to Paragraph 4(b)(ii) hereof, the maximum
total number of shares of Common Stock issuable upon conversion or exchange of
Convertible Securities, as of the date of issuance of such Convertible
Securities, if any.

                  (ii) "MARKET PRICE," as of any date, (i) means the average of
the last reported sale prices for the shares of Common Stock on the OTCBB for
the five (5) Trading Days immediately preceding such date as reported by
Bloomberg, or (ii) if the OTCBB is not the principal trading market for the
shares of Common Stock, the average of the last reported sale prices on the
principal trading market for the Common Stock during the same period as reported
by Bloomberg, or (iii) if market value cannot be calculated as of such date on
any of the foregoing bases, the Market Price shall be the fair market value as
reasonably determined in good faith by (a) the Board of Directors of the Company
or, at the option of a majority-in-interest of the holders of the outstanding
Warrants by (b) an independent investment bank of nationally recognized standing
in the valuation of businesses similar to the business of the corporation. The
manner of determining the Market Price of the Common Stock set forth in the
foregoing definition shall apply with respect to any other security in respect
of which a determination as to market value must be made hereunder.

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                  (iii) "COMMON STOCK," for purposes of this Paragraph 4,
includes the Common Stock, par value $.001 per share, and any additional class
of stock of the Company having no preference as to dividends or distributions on
liquidation, provided that the shares purchasable pursuant to this Warrant shall
include only shares of Common Stock, par value $.001 per share, in respect of
which this Warrant is exercisable, or shares resulting from any subdivision or
combination of such Common Stock, or in the case of any reorganization,
reclassification, consolidation, merger, or sale of the character referred to in
Paragraph 4(e) hereof, the stock or other securities or property provided for in
such Paragraph.

      5. ISSUE TAX. The issuance of certificates for Warrant Shares upon the
exercise of this Warrant shall be made without charge to the holder of this
Warrant or such shares for any issuance tax or other costs 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 the holder of this Warrant.

      6. NO RIGHTS OR LIABILITIES AS A SHAREHOLDER. This Warrant shall not
entitle the holder hereof to any voting rights or other rights as a shareholder
of the Company. No provision of this Warrant, in the absence of affirmative
action by the holder hereof to purchase Warrant Shares, and no mere enumeration
herein of the rights or privileges of the holder hereof, shall give rise to any
liability of such holder for the Exercise Price or as a shareholder of the
Company, whether such liability is asserted by the Company or by creditors of
the Company.

      7. TRANSFER, EXCHANGE, AND REPLACEMENT OF WARRANT.

            (a) RESTRICTION ON TRANSFER. This Warrant and the rights granted to
the holder hereof are transferable, in whole or in part, upon surrender of this
Warrant, together with a properly executed assignment in the form attached
hereto, at the office or agency of the Company referred to in Paragraph 7(e)
below, provided, however, that any transfer or assignment shall be subject to
the conditions set forth in Paragraph 7(f) hereof and to the applicable
provisions of the Securities Purchase Agreement. Until due presentment for
registration of transfer on the books of the Company, the Company may treat the
registered holder hereof as the owner and holder hereof for all purposes, and
the Company shall not be affected by any notice to the contrary. Notwithstanding
anything to the contrary contained herein, the registration rights described in
Paragraph 8 are assignable only in accordance with the provisions of that
certain Registration Rights Agreement, dated November 30, 2004, by and among the
Company and the other signatories thereto (the "Registration Rights Agreement").

            (b) WARRANT EXCHANGEABLE FOR DIFFERENT DENOMINATIONS. This Warrant
is exchangeable, upon the surrender hereof by the holder hereof at the office or
agency of the Company referred to in Paragraph 7(e) below, for new Warrants of
like tenor representing in the aggregate the right to purchase the number of
shares of Common Stock which may be purchased hereunder, each of such new
Warrants to represent the right to purchase such number of shares as shall be
designated by the holder hereof at the time of such surrender.

            (c) REPLACEMENT OF WARRANT. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction, or mutilation of
this Warrant and, in the case of any such loss, theft, or destruction, upon
delivery of an indemnity agreement reasonably satisfactory in form and amount to
the Company, or, in the case of any such mutilation, upon surrender and
cancellation of this Warrant, the Company, at its expense, will execute and
deliver, in lieu thereof, a new Warrant of like tenor.

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            (d) CANCELLATION; PAYMENT OF EXPENSES. Upon the surrender of this
Warrant in connection with any transfer, exchange, or replacement as provided in
this Paragraph 7, this Warrant shall be promptly canceled by the Company. The
Company shall pay all taxes (other than securities transfer taxes) and all other
expenses (other than legal expenses, if any, incurred by the holder or
transferees) and charges payable in connection with the preparation, execution,
and delivery of Warrants pursuant to this Paragraph 7.

            (e) REGISTER. The Company shall maintain, at its principal executive
offices (or such other office or agency of the Company as it may designate by
notice to the holder hereof), a register for this Warrant, in which the Company
shall record the name and address of the person in whose name this Warrant has
been issued, as well as the name and address of each transferee and each prior
owner of this Warrant.

            (f) EXERCISE OR TRANSFER WITHOUT REGISTRATION. If, at the time of
the surrender of this Warrant in connection with any exercise, transfer, or
exchange of this Warrant, this Warrant (or, in the case of any exercise, the
Warrant Shares issuable hereunder), shall not be registered under the Securities
Act of 1933, as amended (the "Securities Act") and under applicable state
securities or blue sky laws, the Company may require, as a condition of allowing
such exercise, transfer, or exchange, (i) that the holder or transferee of this
Warrant, as the case may be, furnish to the Company a written opinion of
counsel, which opinion and counsel are acceptable to the Company, to the effect
that such exercise, transfer, or exchange may be made without registration under
said Act and under applicable state securities or blue sky laws, (ii) that the
holder or transferee execute and deliver to the Company an investment letter in
form and substance acceptable to the Company and (iii) that the transferee be an
"accredited investor" as defined in Rule 501(a) promulgated under the Securities
Act; provided that no such opinion, letter or status as an "accredited investor"
shall be required in connection with a transfer pursuant to Rule 144 under the
Securities Act. The first holder of this Warrant, by taking and holding the
same, represents to the Company that such holder is acquiring this Warrant for
investment and not with a view to the distribution thereof.

      8. REGISTRATION RIGHTS. The initial holder of this Warrant (and certain
assignees thereof) is entitled to the benefit of such registration rights in
respect of the Warrant Shares as are set forth in Section 2 of the Registration
Rights Agreement.

      9. NOTICES. All notices, requests, and other communications required or
permitted to be given or delivered hereunder to the holder of this Warrant shall
be in writing, and shall be personally delivered, or shall be sent by certified
or registered mail or by recognized overnight mail courier, postage prepaid and
addressed, to such holder at the address shown for such holder on the books of
the Company, or at such other address as shall have been furnished to the
Company by notice from such holder. All notices, requests, and other
communications required or permitted to be given or delivered hereunder to the
Company shall be in writing, and shall be personally delivered, or shall be sent
by certified or registered mail or by recognized overnight mail courier, postage
prepaid and addressed, to the office of the Company at 13231 Champion Forest
Drive, Suite 213, Houston, Texas 77069, Attention: Chief Executive Officer, or
at such other address as shall have been furnished to the holder of this Warrant
by notice from the Company. Any such notice, request, or other communication may

                                      -10-
<PAGE>

be sent by facsimile, but shall in such case be subsequently confirmed by a
writing personally delivered or sent by certified or registered mail or by
recognized overnight mail courier as provided above. All notices, requests, and
other communications shall be deemed to have been given either at the time of
the receipt thereof by the person entitled to receive such notice at the address
of such person for purposes of this Paragraph 9, or, if mailed by registered or
certified mail or with a recognized overnight mail courier upon deposit with the
United States Post Office or such overnight mail courier, if postage is prepaid
and the mailing is properly addressed, as the case may be.

      10. GOVERNING LAW. THIS WARRANT SHALL BE ENFORCED, GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS. THE PARTIES HERETO HEREBY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN NEW YORK,
NEW YORK WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS WARRANT, THE AGREEMENTS
ENTERED INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR
THEREBY. BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO
THE MAINTENANCE OF SUCH SUIT OR PROCEEDING. BOTH PARTIES FURTHER AGREE THAT
SERVICE OF PROCESS UPON A PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN
EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR
PROCEEDING. NOTHING HEREIN SHALL AFFECT EITHER PARTY'S RIGHT TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW. BOTH PARTIES AGREE 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. THE PARTY WHICH DOES NOT PREVAIL IN ANY DISPUTE ARISING UNDER
THIS WARRANT SHALL BE RESPONSIBLE FOR ALL FEES AND EXPENSES, INCLUDING
ATTORNEYS' FEES, INCURRED BY THE PREVAILING PARTY IN CONNECTION WITH SUCH
DISPUTE.

      11. MISCELLANEOUS.

            (a) AMENDMENTS. This Warrant and any provision hereof may only be
amended by an instrument in writing signed by the Company and the holder hereof.

            (b) DESCRIPTIVE HEADINGS. The descriptive headings of the several
paragraphs of this Warrant are inserted for purposes of reference only, and
shall not affect the meaning or construction of any of the provisions hereof.

            (c) CASHLESS EXERCISE. Notwithstanding anything to the contrary
contained in this Warrant, if the resale of the Warrant Shares by the holder is
not then registered pursuant to an effective registration statement under the
Securities Act, this Warrant may be exercised by presentation and surrender of
this Warrant to the Company at its principal executive offices with a written
notice of the holder's intention to effect a cashless exercise, including a
calculation of the number of shares of Common Stock to be issued upon such
exercise in accordance with the terms hereof (a "Cashless Exercise"). In the
event of a Cashless Exercise, in lieu of paying the Exercise Price in cash, the

                                      -11-
<PAGE>

holder shall surrender this Warrant for that number of shares of Common Stock
determined by multiplying the number of Warrant Shares to which it would
otherwise be entitled by a fraction, the numerator of which shall be the
difference between the then current Market Price per share of the Common Stock
and the Exercise Price, and the denominator of which shall be the then current
Market Price per share of Common Stock. For example, if the holder is exercising
100,000 Warrants with a per Warrant exercise price of $0.75 per share through a
cashless exercise when the Common Stock's current Market Price per share is
$2.00 per share, then upon such Cashless Exercise the holder will receive 62,500
shares of Common Stock.

            (d) REMEDIES. The Company acknowledges that a breach by it of its
obligations hereunder will cause irreparable harm to the holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the
Company acknowledges that the remedy at law for a breach of its obligations
under this Warrant will be inadequate and agrees, in the event of a breach or
threatened breach by the Company of the provisions of this Warrant, that the
holder shall be entitled, in addition to all other available remedies at law or
in equity, and in addition to the penalties assessable herein, to an injunction
or injunctions restraining, preventing or curing any breach of this Warrant and
to enforce specifically the terms and provisions thereof, without the necessity
of showing economic loss and without any bond or other security being required.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -12-
<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by
its duly authorized officer.

                                                    SHARP HOLDING CORPORATION

                                                    By:_________________________
                                                       George Sharp
                                                       Chief Executive Officer

Dated as of January 19, 2005

<PAGE>

                           FORM OF EXERCISE AGREEMENT

                                                       Dated:  ________ __, 200_

To:______________________

      The undersigned, pursuant to the provisions set forth in the within
Warrant, hereby agrees to purchase ________ shares of Common Stock covered by
such Warrant, and makes payment herewith in full therefor at the price per share
provided by such Warrant in cash or by certified or official bank check in the
amount of, or, if the resale of such Common Stock by the undersigned is not
currently registered pursuant to an effective registration statement under the
Securities Act of 1933, as amended, by surrender of securities issued by the
Company (including a portion of the Warrant) having a market value (in the case
of a portion of this Warrant, determined in accordance with Section 11(c) of the
Warrant) equal to $_________. Please issue a certificate or certificates for
such shares of Common Stock in the name of and pay any cash for any fractional
share to:

                                                    Name:_______________________

                                                    Signature:
                                                    Address:____________________

                                                    Note:   The above signature
                                                            should correspond
                                                            exactly with the
                                                            name on the face of
                                                            the within Warrant,
                                                            if applicable.

and, if said number of shares of Common Stock shall not be all the shares
purchasable under the within Warrant, a new Warrant is to be issued in the name
of said undersigned covering the balance of the shares purchasable thereunder
less any fraction of a share paid in cash.

<PAGE>

                               FORM OF ASSIGNMENT

      FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers
all the rights of the undersigned under the within Warrant, with respect to the
number of shares of Common Stock covered thereby set forth hereinbelow, to:

Name of Assignee                    Address                 No of Shares
----------------                    -------                 ------------

, and hereby irrevocably constitutes and appoints_______________________________
as agent and attorney-in-fact to transfer said Warrant on the books of the
within-named corporation, with full power of substitution in the premises.

Dated:________ __, 200_

In the presence of:                                 ____________________________

                                                    Name:_______________________

                                                    Signature:__________________
                                                    Title of Signing Officer or
                                                    Agent (if any):

                                                    Address:____________________

                                                    Note:   The above signature
                                                            should correspond
                                                            exactly with the
                                                            name on the face of
                                                            the within Warrant,
                                                            if applicable.Exhibit 10.2

To:      SAFETEK INTERNATIONAL, INC.
         5509 11TH Avenue
         Brooklyn, NY 11219

                           SAFETEK INTERNATIONAL, INC.
        REGULATION S SUBSCRIPTION AGREEMENT AND INVESTMENT REPRESENTATION

                                   SECTION 1.

                  1.1  Subscription.  The  undersigned,  intending to be legally
bound,  hereby  irrevocably  subscribes  for and agrees to purchase  ___________
shares  (the  "Shares")  of  common  stock  (the  "Common   Stock")  of  Safetek
International,  Inc.,  a Delaware  corporation  (the  "Company")  in an offshore
transaction negotiated outside the U.S. and to be consummated and closed outside
the U.S.

                  The Shares are  pursuant to a private  placement of the Common
Stock of the Company  pursuant to Regulation S promulgated  under the Securities
Act of 1933, as amended (the "Securities Act").

                  1.2      Purchase of Shares.

                  The undersigned understands and acknowledges that the purchase
price to be remitted to the  Company in  exchange  for the Shares  shall be ____
dollars ($_____). The Company shall deliver the Shares to the undersigned within
10 days of the acceptance of this Subscription Agreement by the Company.

                  1.3      Acceptance or Rejection.

                  (a) The  undersigned  understands  and agrees that the Company
reserves  the  right to  reject  this  subscription  for the  Shares  if, in its
reasonable  judgment,  it deems such action in the best interest of the Company,
at  any  time  prior  to  the  Closing,  notwithstanding  prior  receipt  by the
undersigned of notice of acceptance of the undersigned's subscription.

                  (b)  The   undersigned   understands   and  agrees   that  its
subscription for the Shares is irrevocable.

                  (c) In the event the sale of the Shares  subscribed for by the
undersigned  is not  consummated  by the  Company for any reason (in which event
this Subscription  Agreement shall be deemed to be rejected),  this Subscription
Agreement and any other  agreement  entered into between the undersigned and the
Company relating to this  subscription  shall thereafter have no force or effect
and the Company shall promptly return or cause to be returned to the undersigned
the purchase price remitted to the Company by the undersigned,  without interest
thereon or deduction therefrom, in exchange for the Shares.

                                       1
<PAGE>

                                   SECTION 2.

                  2.1      Closing

                  The closing  (the  "Closing")  of the purchase and sale of the
Shares,  simultaneously  with the acceptance by the Company of the undersigned's
subscription,  as evidenced  by the  Company's  execution  of this  Subscription
Agreement.

                                   SECTION 3.

                  3.1      Investor Representations and Warranties.

                  The undersigned hereby  acknowledges,  represents and warrants
to, and agrees with, the Company and its affiliates as follows:

                  (a)  The  undersigned  is  acquiring  the  Shares  for his own
account as principal,  not as a nominee or agent, for investment  purposes only,
and not  with a view  to,  or for,  resale,  distribution  or  fractionalization
thereof  in  whole  or in part and no other  person  has a  direct  or  indirect
beneficial  interest  in  such  Shares  or any  portion  thereof.  Further,  the
undersigned  does not have any contract,  undertaking,  agreement or arrangement
with any person to sell,  transfer or grant  participations to such person or to
any third  person,  with  respect  to the Shares  for which the  undersigned  is
subscribing or any part of the Shares.

                  (b) The undersigned has full power and authority to enter into
this  Agreement,  the  execution  and delivery of this  Agreement  has been duly
authorized,  if applicable,  and this Agreement  constitutes a valid and legally
binding obligation of the undersigned.

                  (c) The  undersigned  is not  subscribing  for the Shares as a
result  of  or  subsequent  to  any  advertisement,  article,  notice  or  other
communication published in any newspaper, magazine or similar media or broadcast
over  television  or radio,  or  presented  at any  seminar or  meeting,  or any
solicitation of a subscription by person previously not known to the undersigned
in connection with investment securities generally.

                  (d) The  undersigned  understands  that,  except  as set forth
herein,  the Company is under no  obligation  to register  the Shares  under the
Securities  Act, or to assist the  undersigned  in complying with the Securities
Act or the  securities  laws of any state of the United States or of any foreign
jurisdiction.

                                       2
<PAGE>

                  (e) The undersigned is (i)  experienced in making  investments
of the kind described in this Agreement and the related documents, (ii) able, by
reason of the business and  financial  experience of its officers (if an entity)
and professional advisors (who are not affiliated with or compensated in any way
by the Company or any of its affiliates or selling  agents),  to protect its own
interests in connection with the transactions  described in this Agreement,  and
the  related  documents,  and  (iii)  able  to  afford  the  entire  loss of its
investment in the Shares.

                  (f) The undersigned  acknowledges his  understanding  that the
offering and saleof the Shares is intended to be exempt from registration  under
the  Securities  Act.  In  furtherance   thereof,   in  addition  to  the  other
representations  and warranties of the undersigned made herein,  the undersigned
further  represents  and  warrants  to and  agrees  with  the  Company  and  its
affiliates as follows:

                  (i)      The  undersigned  realizes  that  the  basis  for the
                           exemption may not be present if, notwithstanding such
                           representations,  the  undersigned has in mind merely
                           acquiring  the  Shares  for a fixed  or  determinable
                           period in the future,  or for a market  rise,  or for
                           sale if the  market  does not rise.  The  undersigned
                           does not have any such intention;

                  (ii)     The undersigned has the financial ability to bear the
                           economic risk of his  investment,  has adequate means
                           for  providing  for his  current  needs and  personal
                           contingencies  and has no  need  for  liquidity  with
                           respect to his investment in the Company; and

                  (iii)    The  undersigned has such knowledge and experience in
                           financial  and  business  matters as to be capable of
                           evaluating  the merits  and risks of the  prospective
                           investment  in  the  Shares.   The  undersigned  also
                           represents it has not been  organized for the purpose
                           of acquiring the Shares; and

                  (iv)     The  undersigned has been provided an opportunity for
                           a reasonable  period of time prior to the date hereof
                           to  obtain  additional   information  concerning  the
                           offering  of the  Shares,  the  Company and all other
                           information to the extent the Company  possesses such
                           information  or can  acquire it without  unreasonable
                           effort or expense.

                  (v)      The  undersigned  has  carefully  reviewed all of the
                           Company's  filings under the Securities  Exchange Act
                           of 1934, as amended (the "Exchange Act").

                  (g) The  undersigned  is not  relying on the  Company,  or its
affiliates  or agents with respect to economic  considerations  involved in this
investment. The undersigned has relied solely on its own advisors.

                                       3
<PAGE>

                  (h) No  representations  or  warranties  have been made to the
undersigned  by the  Company,  or any  officer,  employee,  agent,  affiliate or
subsidiary  of the  Company,  other  than  the  representations  of the  Company
contained  herein,  and in subscribing for Shares the undersigned is not relying
upon any representations other than those contained herein.

                  (i)  Compliance  with  Local  Laws.  Any  resale of the Shares
during  the  `distribution  compliance  period'  as  defined  in Rule  902(f) to
Regulation S shall only be made in compliance with exemptions from  registration
afforded  by  Regulation  S.  Further,  any  such  sale  of  the  Shares  in any
jurisdiction  outside of the United States will be made in  compliance  with the
securities  laws of such  jurisdiction.  The Investor  will not offer to sell or
sell the Shares in any  jurisdiction  unless the  Investor  obtains all required
consents, if any.

                  (j) Regulation S Exemption.  The undersigned  understands that
the Shares are being  offered and sold to him in reliance on an  exemption  from
the registration requirements of United States federal and state securities laws
under Regulation S promulgated  under the Securities Act and that the Company is
relying  upon  the  truth  and  accuracy  of  the  representations,  warranties,
agreements,  acknowledgments and understandings of the Investor set forth herein
in order to determine the  applicability  of such exemptions and the suitability
of the  Investor  to  acquire  the  Shares.  In  this  regard,  the  undersigned
represents, warrants and agrees that:

            1.    The undersigned is not a U.S. Person (as defined below) and is
                  an affiliate  (as defined in Rule 501(b) under the  Securities
                  Act) of the  Company and is not  acquiring  the Shares for the
                  account or benefit of a U.S.  Person.  A U.S. Person means any
                  one of the following:

                  o     any  natural  person  resident  in the United  States of
                        America;

                  o     any partnership or corporation organized or incorporated
                        under the laws of the United States of America;

                  o     any estate of which any executor or  administrator  is a
                        U.S. person;

                  o     any trust of which any trustee is a U.S. person;

                  o     any agency or branch of a foreign  entity located in the
                        United States of America;

                                       4
<PAGE>

                  o     any non-discretionary  account or similar account (other
                        than an  estate  or  trust)  held by a  dealer  or other
                        fiduciary for the benefit or account of a U.S. person;

                  o     any discretionary account or similar account (other than
                        an estate or trust) held by a dealer or other  fiduciary
                        organized,  incorporated or (if an individual)  resident
                        in the United States of America;  and o any  partnership
                        or corporation if:

                           (A) organized or  incorporated  under the laws of any
                  foreign jurisdiction; and

                           (B)  formed  by a U.S.  person  principally  for  the
                  purpose of investing in securities  not  registered  under the
                  Securities  Act, unless it is organized or  incorporated,  and
                  owned,  by  accredited  investors  (as  defined in Rule 501(a)
                  under the Securities Act) who are not natural persons, estates
                  or trusts.

            2.    At the time of the  origination  of  contact  concerning  this
                  Agreement  and the date of the  execution and delivery of this
                  Agreement, the undersigned was outside of the United States.

            3.    The undersigned will not, during the period  commencing on the
                  date  of  issuance  of the  Shares  and  ending  on the  first
                  anniversary  of such date,  or such  shorter  period as may be
                  permitted by Regulation S or other  applicable  securities law
                  (the "Restricted  Period"),  offer,  sell, pledge or otherwise
                  transfer the Shares in the United States,  or to a U.S. Person
                  for  the  account  or for the  benefit  of a U.S.  Person,  or
                  otherwise  in  a  manner  that  is  not  in  compliance   with
                  Regulation S.

            4.    The  undersigned  will,  after  expiration  of the  Restricted
                  Period,  offer,  sell, pledge or otherwise transfer the Shares
                  only pursuant to  registration  under the Securities Act or an
                  available  exemption  therefrom  and, in  accordance  with all
                  applicable state and foreign securities laws.

            5.    The undersigned was not in the United States,  engaged in, and
                  prior to the  expiration  of the  Restricted  Period  will not
                  engage in, any short  selling  of or any  hedging  transaction
                  with respect to the Shares, including without limitation,  any
                  put,  call or other  option  transaction,  option  writing  or
                  equity swap.

                                        5
<PAGE>

            6.    Neither the undersigned nor or any person acting on his behalf
                  has engaged,  nor will engage, in any directed selling efforts
                  to a U.S.  Person with  respect to the Shares and the Investor
                  and any person  acting on his behalf  have  complied  and will
                  comply  with  the  "offering  restrictions"   requirements  of
                  Regulation S under the Securities Act.

            7.    The transactions  contemplated by this Agreement have not been
                  pre-arranged with a buyer located in the United States or with
                  a U.S.  Person,  and are not part of a plan or scheme to evade
                  the registration requirements of the Securities Act.

            8.    Neither the  undersigned  nor any person  acting on his behalf
                  has undertaken or carried out any activity for the purpose of,
                  or that could  reasonably  be  expected to have the effect of,
                  conditioning the market in the United States,  its territories
                  or possessions,  for any of the Shares. The undersigned agrees
                  not to cause any  advertisement  of the Shares to be published
                  in any  newspaper or  periodical or posted in any public place
                  and not to issue any circular  relating to the Shares,  except
                  such  advertisements  that include the statements  required by
                  Regulation S under the  Securities  Act, and only offshore and
                  not in the U.S.  or its  territories,  and only in  compliance
                  with any local applicable securities laws.

            9.    Each  certificate  representing  the Shares  shall be endorsed
                  with the  following  legends,  in addition to any other legend
                  required to be placed  thereon by applicable  federal or state
                  securities laws:

                                    (A)  "THE   SHARES  ARE  BEING   OFFERED  TO
                              INVESTORS WHO ARE NOT U.S.  PERSONS (AS DEFINED IN
                              REGULATION S UNDER THE  SECURITIES ACT OF 1933, AS
                              AMENDED  ("THE   SECURITIES   ACT"))  AND  WITHOUT
                              REGISTRATION WITH THE UNITED STATES SECURITIES AND
                              EXCHANGE  COMMISSION  UNDER THE  SECURITIES ACT IN
                              RELIANCE UPON  REGULATION S PROMULGATED  UNDER THE
                              SECURITIES ACT."

                                    (B) "TRANSFER OF THESE SHARES IS PROHIBITED,
                              EXCEPT  IN  ACCORDANCE   WITH  THE  PROVISIONS  OF
                              REGULATION S, PURSUANT TO  REGISTRATION  UNDER THE
                              SECURITIES ACT, OR PURSUANT TO AVAILABLE EXEMPTION
                              FROM REGISTRATION. HEDGING TRANSACTIONS MAY NOT BE
                              CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES
                              ACT."

                                        6
<PAGE>

            10.   The  undersigned  consents to the Company making a notation on
                  its records or giving  instructions  to any transfer  agent of
                  the Company in order to implement the restrictions on transfer
                  of the Shares set forth in this Section 2.

      ( ) (k) [this representation shall apply only to Investor who specifically
filled the box] The  undersigned  is an  "accredited  investor"  as that term is
defined  within the meaning of Rule 501 " as that term is defined in Rule 501 of
the General Rules and  Regulations  under the  Securities  Act by reason of Rule
501(a)(3).

                  (l) The  undersigned  understands  that an  investment  in the
Shares is a speculative  investment which involves a high degree of risk and the
potential loss of his entire investment.

                  (m) The undersigned's  overall commitment to investments which
are not readily  marketable is not  disproportionate  to the  undersigned's  net
worth, and an investment in the Shares will not cause such overall commitment to
become excessive.

                  (n) The undersigned has received all documents, records, books
and other information pertaining to the undersigned's  investment in the Company
that has been  requested by the  undersigned.  The  undersigned  has reviewed or
received copies of all reports and other documents filed by the Company with the
Securities and Exchange Commission (the "SEC Documents").

                  (o) The  undersigned  represents  and  warrants to the Company
that  all  information  that  the  undersigned  has  provided  to  the  Company,
including,  without  limitation,  the information in the Investor  Questionnaire
attached   hereto  or  previously   provided  to  the  Company  (the   "Investor
Questionnaire"), is correct and complete as of the date hereof.

                  (p) Other than as set forth  herein,  the  undersigned  is not
relying upon any other information, representation or warranty by the Company or
any officer,  director,  stockholder,  agent or representative of the Company in
determining  to invest in the Shares.  The  undersigned  has  consulted,  to the
extent  deemed  appropriate  by the  undersigned,  with  the  undersigned's  own
advisers as to the  financial,  tax,  legal and related  matters  concerning  an
investment in the Shares and on that basis  believes that his or its  investment
in the Shares is suitable and appropriate for the undersigned.

                  (q) The  undersigned  is aware that no federal or state agency
has (i) made any finding or determination as to the fairness of this investment,
(ii) made any  recommendation  or endorsement  of the Shares or the Company,  or
(iii)  guaranteed or insured any investment in the Shares or any investment made
by the Company.

                                        7
<PAGE>

                  (p) The undersigned  understands  that the price of the Shares
offered  hereby bear no  relation to the assets,  book value or net worth of the
Company and were determined  arbitrarily by the Company. The undersigned further
understands  that there is a substantial  risk of further dilution on his or its
investment in the Company.

                                   SECTION 4.

                  The Company  represents  and  warrants to the  undersigned  as
follows:

                  4.1 Organization of the Company.  The Company is a corporation
duly  organized and validly  existing and in good standing under the laws of the
State of Delaware,  and has all requisite  power and authority to own, lease and
operate its properties and to carry on its business as now being conducted.  The
Company is duly qualified as a foreign corporation to do business and is in good
standing in every  jurisdiction in which the nature of the business conducted or
property  owned by it makes such  qualification  necessary,  other than those in
which the failure so to qualify would not have a material  adverse effect on the
business,   operations,   properties,   prospects  or  condition  (financial  or
otherwise) of the Company.

                  4.2  Authority.  (a) The Company has the  requisite  corporate
power and  authority  to enter  into and  perform  its  obligations  under  this
Agreement  and to issue the  Shares;  (b) the  execution  and  delivery  of this
Agreement  by  the  Company  and  the  consummation  by it of  the  transactions
contemplated  hereby and  thereby  have been duly  authorized  by all  necessary
corporate  action and no further consent or  authorization of the Company or its
Board of Directors or stockholders is required;  and (c) this Agreement has been
duly executed and  delivered by the Company and  constitutes a valid and binding
obligation of the Company enforceable against the Company in accordance with its
terms,  except as such  enforceability may be limited by applicable  bankruptcy,
insolvency,  or similar laws relating to, or affecting generally the enforcement
of, creditors'  rights and remedies or by other equitable  principles of general
application.

                  4.3  Capitalization.  As of the date  hereof,  the  authorized
capital stock of the Company  consists of (i)  500,000,000,000  shares of Common
Stock, of which as of the date hereof 499,472 shares are issued and outstanding,
and 50,000,000 shares of Preferred Stock, of which as of the date hereof 10, 365
shares are issued and outstanding.  All of such outstanding shares have been, or
upon issuance will be, validly issued and are fully paid and nonassessable.

                  4.4 SEC  Documents.  To the best of Company's  knowledge,  the
Company has not provided to the undersigned any information  that,  according to
applicable law, rule or regulation, should have been disclosed publicly prior to
the date hereof by the Company, but which has not been so disclosed. As of their
respective  dates, the SEC Documents  complied in all material respects with the
requirements  of the Securities Act or the Exchange Act, as the case may be, and

                                        8
<PAGE>

other federal,  state and local laws,  rules and regulations  applicable to such
SEC Documents, and none of the SEC Documents contained any untrue statement of a
material fact or omitted to state a material fact required to be stated  therein
or  necessary  in  order  to  make  the  statements  therein,  in  light  of the
circumstances  under  which  they  were  made,  not  misleading.  The  financial
statements of the Company  included in the SEC  Documents  comply as to form and
substance in all material respects with applicable  accounting  requirements and
the published  rules and  regulations of the Securities and Exchange  Commission
(the "SEC") or other applicable rules and regulations with respect thereto. Such
financial  statements have been prepared in accordance  with generally  accepted
accounting  principles applied on a consistent basis during the periods involved
(except (a) as may be otherwise  indicated in such  financial  statements or the
notes thereto or (b) in the case of unaudited interim statements,  to the extent
they may not include  footnotes or may be condensed or summary  statements)  and
fairly present in all material respects the financial position of the Company as
of the dates  thereof  and the  results  of  operations  and cash  flows for the
periods  then ended  (subject,  in the case of unaudited  statements,  to normal
year-end audit adjustments).

                  4.5 Exemption from Registration; Valid Issuances. The sale and
issuance of the  Shares,  in  accordance  with the terms and on the bases of the
representations  and  warranties of the  undersigned  set forth herein,  may and
shall be  properly  issued by the  Company to the  undersigned  pursuant  to any
applicable  state law. When issued and paid for as herein  provided,  the Shares
shall be duly and validly  issued,  fully paid, and  nonassessable.  Neither the
sales  of  the  Shares  pursuant  to,  nor  the  Company's  performance  of  its
obligations under, this Agreement shall (a) result in the creation or imposition
of any liens,  charges,  claims or other  encumbrances upon the Shares or any of
the assets of the Company,  or (b) entitle the other holders of the Common Stock
of the Company to  preemptive  or other  rights to  subscribe  to or acquire the
Common Stock or other  securities  of the Company.  The Shares shall not subject
the undersigned to personal liability by reason of the ownership thereof.

                  4.6 No General  Solicitation  or Advertising in Regard to this
Transaction. Neither the Company nor any of its affiliates nor any person acting
on  its  or  their  behalf  (a)  has  conducted  or  will  conduct  any  general
solicitation  (as that term is used in Rule 502(c) of  Regulation  D) or general
advertising  with respect to any of the Shares,  or (b) made any offers or sales
of  any  security  or  solicited  any  offers  to buy  any  security  under  any
circumstances  that would  require  registration  of the Common  Stock under the
Securities Act.

                  4.7 No Conflicts.  The execution,  delivery and performance of
this  Agreement  by the  Company  and the  consummation  by the  Company  of the
transactions  contemplated hereby,  including without limitation the issuance of
the Shares,  do not and will not (a) result in a violation of the Certificate or
By-Laws of the Company or (b) conflict  with, or  constitute a material  default
(or an event that with  notice or lapse of time or both would  become a material
default)  under,  or  give to  others  any  rights  of  termination,  amendment,
acceleration or cancellation of, any material agreement,  indenture,  instrument

                                        9
<PAGE>

or any "lock-up" or similar  provision of any underwriting or similar  agreement
to which the Company is a party,  or (c) result in a violation  of any  federal,
state,  local or  foreign  law,  rule,  regulation,  order,  judgment  or decree
(including federal and state securities laws and  regulations)applicable  to the
Company or by which any  property  or asset of the  Company is bound or affected
(except for such conflicts, defaults, terminations,  amendments,  accelerations,
cancellations  and  violations as would not,  individually  or in the aggregate,
have  a  material  adverse  effect  on  the  business,  operations,  properties,
prospects  or  condition  (financial  or  otherwise)  of the Company) nor is the
Company  otherwise in violation of, conflict with or in default under any of the
foregoing.  The  business of the Company is not being  conducted in violation of
any law, ordinance or regulation of any governmental entity, except for possible
violations  that either  singly or in the  aggregate  do not and will not have a
material adverse effect on the business,  operations,  properties,  prospects or
condition  (financial or otherwise) of the Company.  The Company is not required
under  federal,  state or local law,  rule or  regulation to obtain any consent,
authorization or order of, or make any filing or registration with, any court or
governmental  agency in order for it to  execute,  deliver or perform any of its
obligations  under  this  Agreement  or  issue  and  sell  the  Common  Stock in
accordance  with the terms hereof (other than any SEC, NASD or state  securities
filings  that  may be  required  to be made  by the  Company  subsequent  to the
Closing,  any registration  statement that may be filed pursuant hereto, and any
shareholder  approval required by the rules applicable to companies whose common
stock  trades  on the Over The  Counter  Bulletin  Board);  provided  that,  for
purposes of the  representation  made in this sentence,  the Company is assuming
and relying upon the accuracy of the relevant  representations and agreements of
the undersigned herein.

                  4.8 No Undisclosed Liabilities. The Company has no liabilities
or obligations that are material, individually or in the aggregate, and that are
not disclosed in the SEC Documents or otherwise publicly  announced,  other than
those  incurred in the ordinary  course of the Company's  businesses  and which,
individually  or in the aggregate,  do not or would not have a material  adverse
effect on the Company.

                  4.9 No  Undisclosed  Events  or  Circumstances.  No  event  or
circumstance  has  occurred  or  exists  with  respect  to  the  Company  or its
businesses,  properties,  prospects,  operations or financial  condition,  that,
under  applicable  law,  rule  or  regulation,  requires  public  disclosure  or
announcement  prior to the date  hereof by the Company but which has not been so
publicly announced or disclosed in the SEC Documents.

                  4.10 No Integrated  Offering.  Neither the Company, nor any of
its  affiliates,  nor any person acting on its or their behalf has,  directly or
indirectly,  made any offers or sales of any security or solicited any offers to
buy any security,  other than pursuant to this  Agreement,  under  circumstances
that would require registration of the Common Stock under the Securities Act.

                  4.11  Litigation and Other  Proceedings.  Except as may be set
forth in the SEC Documents,  there are no lawsuits or proceedings  pending or to
the best knowledge of the Company threatened,  against the Company,  nor has the

                                       10
<PAGE>

Company received any written or oral notice of any such action, suit, proceeding
or  investigation,  which would have a material  adverse effect on the business,
operations,  properties,  prospects or condition (financial or otherwise) of the
Company.  Except as set forth in the SEC Documents,  no judgment,  order,  writ,
injunction  or decree or award has been  issued by or, so far as is known by the
Company,  requested of any court,  arbitrator or governmental agency which would
have  a  material  adverse  effect  on  the  business,  operations,  properties,
prospects or condition (financial or otherwise) of the Company.

                  4.12  Certain  Transactions.  Except  as set  forth in the SEC
Documents  filed at least ten days prior to the date hereof and except for arm's
length transactions pursuant to which the Company makes payments in the ordinary
course of business  upon terms no less  favorable  than the Company could obtain
from third parties, none of the officers, directors, or employees of the Company
is  presently  a  party  to  any  transaction  with  the  Company  or any of its
subsidiaries  (other than for services as  employees,  officers and  directors),
including  any  contract,  agreement  or  other  arrangement  providing  for the
furnishing  of  services  to or by,  providing  for  rental of real or  personal
property to or from,  or  otherwise  requiring  payments to or from any officer,
director or such employee or, to the knowledge of the Company,  any corporation,
partnership,  trust or other entity in which any officer,  director, or any such
employee  has a  substantial  interest  or is an officer,  director,  trustee or
partner.

                  4.13 No Misleading or Untrue  Communication.  The Company, any
person representing the Company, and, to the knowledge of the Company, any other
person  selling or offering to sell the Shares,  if any, in connection  with the
transactions  contemplated  by this  Agreement,  have not made, at any time, any
written or oral  communication  in connection with the offer or sale of the same
which contained any untrue  statement of a material fact or omitted to state any
material  fact  necessary in order to make the  statements,  in the light of the
circumstances under which they were made, not misleading.

                                   SECTION 5.

                  5.1 Indemnity.  The  undersigned  agrees to indemnify and hold
harmless the Company,  its officers and directors,  employees and its affiliates
and their respective  successors and assigns and each other person,  if any, who
controls any thereof,  against any loss,  liability,  claim,  damage and expense
whatsoever  (including,  but not  limited  to, any and all  expenses  whatsoever
reasonably  incurred  in  investigating,  preparing  or  defending  against  any
litigation  commenced or threatened or any claim  whatsoever)  arising out of or
based  upon any false  representation  or  warranty  or breach or failure by the
undersigned  to comply with any  covenant or agreement  made by the  undersigned
herein or in any  other  document  furnished  by the  undersigned  to any of the
foregoing in connection with this transaction.

                                       11
<PAGE>

                  5.2  Modification.  Neither this  Agreement nor any provisions
hereof shall be modified,  discharged or  terminated  except by an instrument in
writing  signed by the party  against  whom any  waiver,  change,  discharge  or
termination is sought.

                  5.3 Notices.  Any notice,  demand or other communication which
any party hereto may be  required,  or may elect,  to give to anyone  interested
hereunder shall be sufficiently  given if (a) deposited,  postage prepaid,  in a
United States mail letter box,  registered  or certified  mail,  return  receipt
requested,  addressed to such address as may be given  herein,  or (b) delivered
personally at such address.

                  5.4  Counterparts.  This Agreement may be executed through the
use  of  separate  signature  pages  or in any  number  of  counterparts  and by
facsimile, and each of such counterparts shall, for all purposes, constitute one
agreement  binding on all  parties,  notwithstanding  that all  parties  are not
signatories to the same counterpart. Signatures may be facsimiles.

                  5.5 Binding Effect.  Except as otherwise provided herein, this
Agreement  shall be binding  upon and inure to the  benefit of the  parties  and
their heirs, executors,  administrators,  successors,  legal representatives and
assigns.  If the  undersigned  is more than one person,  the  obligation  of the
undersigned  shall be joint and  several  and the  agreements,  representations,
warranties and  acknowledgments  herein  contained shall be deemed to be made by
and be binding  upon each such person and his heirs,  executors,  administrators
and successors.

                  5.6  Entire  Agreement.   This  Agreement  and  the  documents
referenced  herein contain the entire  agreement of the parties and there are no
representations,  covenants or other agreements  except as stated or referred to
herein and therein.

                  5.7  Assignability.  This  Agreement  is not  transferable  or
assignable by the undersigned.

                  5.8 Applicable  Law. This  Agreement  shall be governed by and
construed in accordance  with the laws of the State of New York,  without giving
effect to conflicts of law principles.

                  5.9 Pronouns.  The use herein of the masculine  pronouns "him"
or "his" or similar  terms  shall be deemed to include the  feminine  and neuter
genders as well and the use herein of the  singular  pronoun  shall be deemed to
include the plural as well.

                5.10 Lock-up. Without limiting any provisions of applicable law,
or any other  provision of this Agreement,  and in addition to such  provisions,
the  undersigned  agrees that,  if the number of Shares  purchased  hereunder is
higher than 500,000, then the following limitations shall apply:

                   (a) Prohibition on Transfers During Restricted Period. Except
as set forth in sub-section (d), the undersigned shall not, at any time prior to
the second anniversary of the date hereof (the "Restricted Period"), directly or

                                       12
<PAGE>

indirectly,  (i)  offer,  pledge,  sell,  contract  to sell,  sell any option or
contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, lend or otherwise transfer or dispose of, directly
or  indirectly,  any of the  Shares  or  (ii)  enter  into  any  swap  or  other
arrangement that transfers to another,  in whole or in part, any of the economic
consequences  of  ownership of any of the Shares,  whether any such  transaction
described in clause (i) or (ii) above is to be settled by delivery of Shares, in
cash or otherwise (any such transaction, whether or not for consideration, being
referred to herein as a "Transfer"  and each person or entity to whom a Transfer
is made, regardless of the method of Transfer, is referred as a "Transferee").

                   (b)   Obligations  of   Transferees.   Except  for  Transfers
described in the last sentence of this paragraph, no Transfer by the undersigned
(including a permitted  Transfer  pursuant to sub-section  (d) below),  shall be
effective unless the Transferee shall have executed and delivered to the Company
an appropriate  document in form and substance  reasonably  satisfactory  to the
Company  confirming  that the  Transferee  takes such Shares  subject to all the
terms and  conditions of this Agreement to the same extent as its transferor was
bound by such  provisions  (including  without  limitation  that the Transferred
Shares bear  legends  substantially  in the forms  required by this  Agreement).
Transfers by such  Transferees  shall be subject to the terms of this Agreement.
The  requirements  set forth in this  paragraph  shall  not  apply to  Transfers
pursuant to an effective registration statement under the Securities Act.

                   (c) Compliance  with Securities  Laws. The undersigned  shall
not at any time  following the  Restricted  Period make any Transfer  except (a)
Transfers pursuant to an effective  registration  statement under the Securities
Act, (b) Rule 144 Transfers or (c) if the  undersigned  shall have furnished the
Company  with an opinion of counsel,  if  reasonably  requested  by the Company,
which opinion and counsel shall be reasonably  satisfactory  to the Company,  to
the effect that the Transfer is  otherwise  exempt from  registration  under the
Securities Act and that the Transfer  otherwise  complies with the terms of this
Agreement.

               (d) Permitted Transfers.  The restrictions on Transfers set forth
in sub-section  (a) of this Section 5.10 shall not apply to a Transfer of Shares
by an  individual  to a  spouse,  child,  brother,  sister  or  trustee  of  the
transferor,  to any corporate entity which is controlled by the transferor,  and
to  any  Transfer  of  the  Shares  by  the  Permitted  Transferee  back  to the
transferor.

                  IN  WITNESS   WHEREOF,   the  undersigned  has  executed  this
Agreement on the day of ________________, 2004.

Amount of Investment:

$______________________

                                       13
<PAGE>

INDIVIDUAL INVESTOR:

----------------------
Name:

PARTNERSHIP, CORPORATION, TRUST,
CUSTODIAL ACCOUNT, OTHER INVESTOR

---------------------------
(Print Name of Entity)

By:
    -----------------------
Name:
Title:
Address:

Taxpayer Identification Number:_____________

                                       14
<PAGE>

                           ACCEPTANCE OF SUBSCRIPTION

                      (to be filed out only by the Company)

The Company hereby accepts the above  application for subscription for Shares on
behalf of the Company.

SAFETEK INTERNATIONAL, INC.                 Dated: September ___, 2004

By:
    ---------------------------
Name:
Title:

                                       15
<PAGE>

                           SAFETEK INTERNATIONAL, INC.

                             INVESTOR QUESTIONNAIRE

A.       1.       General Information

1. Print Full Name of Investor: Individual:
                                            ------------------------------------
                                            First, Middle, Last

                                            Partnership, Corporation, Trust,
                                            Custodial Account, Other:

                                            ------------------------------------
                                                          Name of Entity

2.       Address for Notices:               ____________________________________

                                            ____________________________________

                                            ____________________________________

3.       Name of Primary Contact Person:    ____________________________________
         Title:

4.       Telephone Number:                  ____________________________________

5.       E-Mail Address:                    ____________________________________

6.       Facsimile Number:                  ____________________________________

7.       Permanent Address:                 ____________________________________
         (if different from Address for
         Noticesabove)

                                       16
<PAGE>

8.       Authorized Signatory:              ____________________________________

         Title:                             ____________________________________

         Telephone Number:                  ____________________________________

         Facsimile Number:                  ____________________________________

9.       U.S. Investors Only:

         U.S. Taxpayer Identification
         or Social Security Number:         ____________________________________

B.       ACCREDITED INVESTOR STATUS

The  Investor  represents  and  warrants  that the  Investor  is an  "accredited
investor"  within the meaning of Rule 501 of  Regulation D under the  Securities
Act of 1933, as amended (the "Securities Act"), and has checked the box or boxes
below which are next to the categories under which the Investor  qualifies as an
accredited investor:

FOR INDIVIDUALS:

|_|     A natural  person  with  individual  net worth (or joint net worth  with
        spouse) in excess of $1 million.  For purposes of this item, "net worth"
        means the excess of total assets at fair market value,  including  home,
        home  furnishings  and  automobiles  (and including  property owned by a
        spouse), over total liabilities.

|_|     A natural person with individual income (without including any income of
        the  Investor's  spouse) in excess of  $200,000,  or joint  income  with
        spouse  of  $300,000,  in each  of the two  most  recent  years  and who
        reasonably expects to reach the same income level in the current year.

For entities:

|_|     A bank as  defined  in  Section  3(a)(2)  of the  Securities  Act or any
        savings and loan association or other  institution as defined in Section
        3(a)(5)(A) of the  Securities  Act,  whether acting in its individual or
        fiduciary capacity.

|_|     An insurance company as defined in Section 2(13) of the Securities Act.

                                       17
<PAGE>

|_|     A  broker-dealer  registered  pursuant  to Section 15 of the  Securities
        Exchange Act of 1934.

|_|     An investment  company  registered  under the Investment  Company Act of
        1940,  as amended (the  "Investment  Company  Act").  If an Investor has
        checked this box, please contact _______ for additional information that
        will be required.

|_|     A business  development  company as defined in Section  2(a)(48)  of the
        Investment Company Act.

|_|     A small  business  investment  company  licensed  by the Small  Business
        Administration  under  Section  301(c)  or  (d) of  the  Small  Business
        Investment Act of 1958.

|_|     A private business  development company as defined in Section 202(a)(22)
        of the Investment  Advisers Act of 1940. If an Investor has checked this
        box,  please  contact  ______ for  additional  information  that will be
        required.

|_|     An organization  described in Section  501(c)(3) of the Internal Revenue
        Code,  a  corporation,  Massachusetts  or  similar  business  trust,  or
        partnership,  not  formed for the  specific  purpose  of  acquiring  the
        Shares, with total assets in excess of $5 million.

|_|     A trust  with total  assets in excess of $5  million  not formed for the
        specific purpose of acquiring the Shares,  whose purchase is directed by
        a person with such  knowledge  and  experience in financial and business
        matters  as to be  capable  of  evaluating  the  merits  and risks of an
        investment in the Company and the purchase of the Shares.

|_|     An employee  benefit plan within the meaning of ERISA if the decision to
        invest in the Shares is made by a plan fiduciary,  as defined in Section
        3(21) of ERISA,  which is either a bank,  savings and loan  association,
        insurance company, or registered  investment adviser, or if the employee
        benefit  plan  has  total  assets  in  excess  of $5  million  or,  if a
        self-directed  plan,  with  investment  decisions made solely by persons
        that are accredited investors.

|_|     A  plan   established   and   maintained  by  a  state,   its  political
        subdivisions,  or  any  agency  or  instrumentality  of a  state  or its
        political  subdivisions,  for the benefit of its employees,  if the plan
        has total assets in excess of $5 million.

                                       18
<PAGE>

|_|     An entity,  including a grantor trust, in which all of the equity owners
        are  accredited  investors  as  determined  under  any of the  foregoing
        paragraphs (for this purpose,  a beneficiary of a trust is not an equity
        owner, but the grantor of a grantor trust is an equity owner).

C.       SUPPLEMENTAL DATA FOR ENTITIES

1. If the Investor is not a natural person,  furnish the following  supplemental
data (natural persons may skip this Section C of the Investor Questionnaire):

Legal form of entity (trust, corporation, partnership, etc.): __________________

Jurisdiction of organization: __________________________________________________

2. Was the Investor organized for the specific purpose of acquiring the Shares?

                       |_| Yes                     |_| No

         If the answer to the above question is "Yes," please  contact  _______,
________,  at  _______  or  ________  for  additional  information  that will be
required.

3. Are shareholders,  partners or other holders of equity or beneficial interest
in the  Investor  able to decide  individually  whether to  participate,  or the
extent of their  participation,  in the  Investor's  investment  in the  Company
(i.e.,  can  shareholders,  partners  or other  holders of equity or  beneficial
interest in the Investor  determine  whether their capital will form part of the
capital invested by the Investor in the Company)?

                       |_| Yes                     |_| No

         If the answer to the above  question is "Yes," please contact _____ for
additional information that will be required.

4(a). Please indicate whether or not the Investor is, or is acting on behalf of,
(i) an  employee  benefit  plan  within the  meaning  of Section  3(3) of ERISA,
whether or not such plan is subject to ERISA,  or (ii) an entity which is deemed
to hold the assets of any such employee  benefit plan pursuant to 29 C.F.R.  ss.
2510.3-101.  For example,  a plan which is maintained by a foreign  corporation,
governmental entity or church, a Keogh plan covering no common-law employees and
an individual  retirement  account are employee benefit plans within the meaning
of Section 3(3) of ERISA but generally  are not subject to ERISA  (collectively,
"Non-ERISA Plans"). In general, a foreign or US entity which is not an operating
company and which is not publicly traded or registered as an investment  company

                                       19
<PAGE>

under the Investment  Company Act of 1940, as amended,  and in which 25% or more
of the value of any class of equity  interest  is held by  employee  pension  or
welfare  plans  (including  an entity  which is deemed to hold the assets of any
such plan),  would be deemed to hold the assets of one or more employee  benefit
plans pursuant to 29 C.F.R.  ss.  2510.3-101.  However,  if only Non-ERISA Plans
were invested in such an entity,  the entity  generally  would not be subject to
ERISA.  For purposes of  determining  whether this 25% threshold has been met or
exceeded,  the value of any equity  interest held by a person (other than such a
plan or entity) who has  discretionary  authority or control with respect to the
assets of the entity,  or any person who  provides  investment  advice for a fee
(direct or indirect)  with respect to such  assets,  or any  affiliate of such a
person, is disregarded.

                       |_| Yes                     |_| No

4(b).  If the Investor  is, or is acting on behalf of, such an employee  benefit
plan,  or is an  entity  deemed  to hold the  assets  of any such plan or plans,
please indicate whether or not the Investor is subject to ERISA.

                       |_| Yes                     |_| No

4(c.) If the  Investor  answered  "Yes" to  question  4.(b) and the  Investor is
investing the assets of an insurance  company general  account,  please indicate
what  percentage of the Investor's  assets the purchase of the Shares is subject
to ERISA. ___________%.

5. Does the amount of the Investor's  subscription for the Shares in the Company
exceed 40% of the total assets (on a consolidated  basis with its  subsidiaries)
of the Investor?

                       |_| Yes                     |_| No

         If the question above was answered  "Yes," please contact  ________ for
additional information that will be required.

6(a). Is the Investor a private investment company which is not registered under
the Investment  Company Act, in reliance on Section  3(c)(1) or Section  3(c)(7)
thereof?

                       |_| Yes                     |_| No

6(b). If the question above was answered "Yes," was the Investor formed prior to
April 30, 1996?

                       |_| Yes                     |_| No

         If the  questions  set  forth in (a) and (b) above  were both  answered
"Yes," please contact ________ for additional information that will be required.

                                       20
<PAGE>

7(a). Is the Investor a grantor trust, a partnership or an S-Corporation  for US
federal income tax purposes?

                       |_| Yes                     |_| No

7(b). If the question above was answered "Yes," please indicate whether or not:

     (i) more than 50  percent  of the value of the  ownership  interest  of any
     beneficial  owner in the Investor is (or may at any time during the term of
     the  Company  be)  attributable  to the  Investor's  (direct  or  indirect)
     interest in the Company; or

                       |_| Yes                     |_| No

     (ii) it is a  principal  purpose  of the  Investor's  participation  in the
     Company to permit the  Partnership  to satisfy the 100  partner  limitation
     contained in US Treasury Regulation Section 1.7704-1(h)(3).

                       |_| Yes                     |_| No

         If either question above was answered "Yes," please contact _______ for
additional information that will be required.

8. If the  Investor's  tax year ends on a date other than  December  31,  please
indicate such date below:

                                                  ------------------------------
                                                              (Date)

D.        RELATED PARTIES

1. To the best of the Investor's knowledge, does the Investor control, or is the
Investor  controlled by or under common  control with, any other investor in the
Company?

                       |_| Yes                     |_| No

                  If the answer above was answered  "Yes",  please identify such
related investor(s) below.

                  Name(s) of related investor(s): _______________________-

2. Will any other person or persons have a beneficial  interest in the Shares to
be acquired hereunder (other than as a shareholder, partner, or other beneficial
owner of equity interest in the Investor)?

                                       21
<PAGE>

                       |_| Yes                     |_| No

                  If either  question above was answered  "Yes",  please contact
______ for additional information that will be required.

The Investor  understands that the foregoing  information will be relied upon by
the Company for the purpose of  determining  the  eligibility of the Investor to
purchase the Shares.  The Investor  agrees to notify the Company  immediately if
any  representation  or  warranty  contained  in  this  Subscription  Agreement,
including this Investor Questionnaire,  becomes untrue at any time. The Investor
agrees to provide, if requested,  any additional information that may reasonably
be required to substantiate the Investor's  status as an accredited  investor or
to otherwise  determine the  eligibility of the Investor to purchase the Shares.
The Investor agrees to indemnify and hold harmless the Company and each officer,
director,  shareholder,  agent  and  representative  of the  Company  and  their
respective  affiliates  and  successors  and assigns  from and against any loss,
damage or  liability  due to or arising  out of a breach of any  representation,
warranty or agreement of the Investor contained herein.

                                    INDIVIDUAL:

                                    ------------------------------------
                                                 (Signature)

                                    ------------------------------------
                                                 (Print Name)

                                    PARTNERSHIP, CORPORATION, TRUST,
                                    CUSTODIAL ACCOUNT, OTHER:

                                    ----------------------_-------------
                                               (Name of Entity)

                                    By:  _______________________________
                                                 (Signature)

                                         -------------------------------
                                              (Print Name and Title)

                                       22
<PAGE>

Annex 1

DEFINITION OF "INVESTMENTS"

The term "investments" means:

1)   Securities, other than securities of an issuer that controls, is controlled
     by,  or  is  under  common  control  with,  the  Investor  that  owns  such
     securities, unless the issuer of such securities is:

            (i)   An investment company or a company that would be an investment
                  company but for the  exclusions or exemptions  provided by the
                  Investment Company Act, or a commodity pool; or

            (ii)  a Public Company (as defined below);

            (iii) A  company  with  shareholders'  equity  of not less  than $50
                  million  (determined  in accordance  with  generally  accepted
                  accounting  principles)  as  reflected on the  company's  most
                  recent  financial  statements,  provided  that such  financial
                  statements  present  the  information  as of a date  within 16
                  months  preceding  the date on  which  the  Investor  acquires
                  Shares;

2)   Real estate held for investment purposes;

3)   Commodity Shares (as defined below) held for investment purposes;

4)   Physical Commodities (as defined below) held for investment purposes;

5)   To the  extent not  securities,  Financial  Contracts  (as  defined  below)
     entered into for investment purposes;

6)   In the case of an Investor  that is a company  that would be an  investment
     company but for the  exclusions  provided by Section  3(c)(1) or 3(c)(7) of
     the Investment  Company Act, or a commodity  pool,  any amounts  payable to
     such Investor  pursuant to a firm agreement or similar  binding  commitment
     pursuant  to which a person has agreed to acquire an  interest  in, or make
     capital contributions to, the Investor upon the demand of the Investor; and

7)   Cash and cash equivalents held for investment purposes.

     Real  Estate  that is used by the owner or a  Related  Person  (as  defined
     below) of the owner for personal purposes, or as a place of business, or in
     connection  with the  conduct of the trade or  business  of such owner or a

                                       23
<PAGE>

     Related  Person of the owner,  will NOT be considered  Real Estate held for
     investment purposes,  provided that real estate owned by an Investor who is
     engaged primarily in the business of investing,  trading or developing real
     estate  in  connection  with  such  business  may be  deemed to be held for
     investment purposes. However, residential real estate will not be deemed to
     be used for  personal  purposes  if  deductions  with  respect to such real
     estate are not  disallowed by section 280A of the Internal  Revenue Code of
     1986, as amended.

     A Commodity  Interest or Physical  Commodity owned, or a Financial Contract
     entered into,  by the Investor who is engaged  primarily in the business of
     investing,   reinvesting,   or  trading  in  Commodity   Shares,   Physical
     Commodities or Financial  Contracts in connection with such business may be
     deemed to be held for investment purposes.

     "Commodity Shares" means commodity futures contracts,  options on commodity
     futures contracts, and options on physical commodities traded on or subject
     to the rules of:

            (i)   Any contract market  designated for trading such  transactions
                  under the Commodity Exchange Act and the rules thereunder; or

            (ii)  Any board of trade or exchange  outside the United States,  as
                  contemplated  in  Part 30 of the  rules  under  the  Commodity
                  Exchange Act.

"Public Company" means a company that:

            (i)   files  reports   pursuant  to  Section  13  or  15(d)  of  the
                  Securities Exchange Act of 1934, as amended; or

            (ii)  has a class of  securities  that are  listed  on a  Designated
                  Offshore  Securities Market, as defined by Regulation S of the
                  Securities Act.

"Financial Contract" means any arrangement that:

            (i)   takes  the  form  of  an  individually   negotiated  contract,
                  agreement,  or option to buy, sell, lend, swap, or repurchase,
                  or other similar individually  negotiated transaction commonly
                  entered into by participants in the financial markets;

            (ii)  is in respect of securities, commodities, currencies, interest
                  or  other  rates,  other  measures  of  value,  or  any  other
                  financial or economic  interest similar in purpose or function
                  to any of the foregoing; and

                                       24
<PAGE>

            (iii) is entered into in response to a request from a counter  party
                  for a quotation,  or is otherwise  entered into and structured
                  to  accommodate  the  objectives of the  counterparty  to such
                  arrangement.

"Physical  Commodities"  means any  physical  commodity  with respect to which a
Commodity  Interest  is  traded  on a  market  specified  in the  definition  of
Commodity Shares above.

"Related  Person"  means a person who is related to the  Investor  as a sibling,
spouse or former spouse,  or is a direct lineal  descendant or ancestor by birth
or adoption of the  Investor,  or is a spouse of such  descendant  or  ancestor,
provided that, in the case of a Family  Company,  a Related Person  includes any
owner of the Family  Company  and any person who is a Related  Person of such an
owner.  "Family Company" means a company that is owned directly or indirectly by
or for two or more  natural  persons  who are  related  as  siblings  or  spouse
(including former spouses),  or direct lineal  descendants by birth or adoption,
spouses of such persons, the estates of such persons, or foundations, charitable
organizations or trusts established for the benefit of such persons.

For purposes of determining the amount of investments owned by a company,  there
may be included investments owned by majority-owned  subsidiaries of the company
and investments owned by a company ("Parent  Company") of which the company is a
majority-owned  subsidiary, or by a majority-owned subsidiary of the company and
other majority-owned subsidiaries of the Parent Company.

In determining whether a natural person is a qualified  purchaser,  there may be
included in the amount of such person's  investments any investment held jointly
with such person's spouse,  or investments in which such person shares with such
person's spouse a community  property or similar shared ownership  interest.  In
determining whether spouses who are making a joint investment in the Partnership
are qualified  purchasers,  there may be included in the amount of each spouse's
investments  any  investments  owned by the other  spouse  (whether  or not such
investments  are held  jointly).  There shall be deducted from the amount of any
such investments any amounts  specified by paragraph 2(a) of Annex 2 incurred by
such spouse.

In determining whether a natural person is a qualified  purchaser,  there may be
included in the amount of such person's  investments any investments  held in an
individual  retirement  account or similar  account the investments of which are
directed by and held for the benefit of such person.

                                       25
<PAGE>

ANNEX 2

VALUATIONS OF INVESTMENTS

The general rule for  determining the value of investments in order to ascertain
whether a person is a  qualified  purchaser  is that the value of the  aggregate
amount of investments owned and invested on a discretionary basis by such person
shall be their fair market  value on the most recent  practicable  date or their
cost. This general rule is subject to the following provisos:

1)    In the case of Commodity  Shares,  the amount of investments  shall be the
      value of the initial margin or option premium deposited in connection with
      such Commodity Shares; and

2)    In each case, there shall be deducted from the amount of investments owned
      by such person the following amounts:

            (i)   The amount of any outstanding indebtedness incurred to acquire
                  the investments owned by such person.

            (ii)  A Family  Company,  in addition to the  amounts  specified  in
                  paragraph  (a) above,  shall have  deducted  from the value of
                  such Family Company's investments any outstanding indebtedness
                  incurred  by an owner of the Family  Company  to acquire  such
                  investments.

                                       26

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