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Unassociated Document

    THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
      ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE
      DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE
      STATE SECURITIES LAWS OR THE ISSUER SHALL HAVE RECEIVED AN OPINION OF COUNSEL
      REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION OF SUCH SECURITIES
      UNDER
      THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES
      LAWS
      IS NOT REQUIRED.

    

    SERIES
      F
      WARRANT

    

    TO
      PURCHASE SHARES OF COMMON STOCK OF INTERLINK GLOBAL CORP.

    

    
      	
              Warrant
                Number

            	 	
              2006-F-001

            
	 	 	 
	
              Issue
                Date

            	 	
              February
                28, 2006

            
	 	 	 
	
              Expiration
                Date

            	 	
              February
                28, 2016

            
	 	 	 
	
              Name
                of Warrant Holder

            	 	
              Vicis
                Capital Master Fund    

            
	 	 	 
	
              Right
                to Purchase the following number of shares 

            	 	
              1,133,333

            
	 	 	 
	
              Purchase
                Price per Share

            	 	
              $3.25

            

    

    

    FOR
      VALUE
      RECEIVED, the undersigned, Interlink Global Corp., a Nevada corporation
      (together with its successors and assigns, the “Issuer”),
      hereby certifies that the individual or entity identified above, or its
      registered assigns is entitled to subscribe for and purchase, during the Term
      (as hereinafter defined), up to the number of shares set forth above (subject
      to
      adjustment as hereinafter provided) of the duly authorized, validly issued,
      fully paid and non-assessable Common Stock of the Issuer, at an exercise price
      per share equal to the Warrant Price then in effect, subject, however, to the
      provisions and upon the terms and conditions hereinafter set forth. Capitalized
      terms used in this Warrant and not otherwise defined herein shall have the
      respective meanings specified in Section 9 hereof.

    

    1. Term.
      The
      term of this Warrant shall commence on the “Date of Issuance” set forth above
      and shall expire at 6:00 p.m., eastern time, on the “Date of Expiration: set for
      above (such period being the “Term”).

    

    2. Method
      of Exercise; Payment; Issuance of New Warrant; Transfer and
      Exchange.

    

    (a) Time
      of Exercise.
      The
      purchase rights represented by this Warrant may be exercised in whole or in
      part
      during the Term. 

    

    
      
        
        

      

      
        Page
          1

        
          

        

      

      
        
        

      

    

     

    (b) Method
      of Exercise.
      The
      Holder hereof may exercise this Warrant, in whole or in part, by the surrender
      of this Warrant (with the exercise form attached hereto duly executed) at the
      principal office of the Issuer, and by the payment to the Issuer of an amount
      of
      consideration therefor equal to the Warrant Price in effect on the date of
      such
      exercise multiplied by the number of shares of Warrant Stock with respect to
      which this Warrant is then being exercised, payable at such Holder’s election
      (i) by certified or official bank check or by
      wire
      transfer to an account designated by the Issuer,
      (ii) by
“cashless exercise” in accordance with the provisions of subsection (c) of this
      Section 2, but only when a registration statement under the Securities Act
      providing for the resale of the Warrant Stock is not then in effect, or (iii)
      by
      a combination of the foregoing methods of payment selected by the Holder of
      this
      Warrant.

    

    (c) Cashless
      Exercise.
      Notwithstanding any provisions herein to the contrary and commencing one (1)
      year following the Original Issue Date if (i) the Per Share Market Value of
      one
      share of Common Stock is greater than the Warrant Price (at the date of
      calculation as set forth below) and (ii) a registration statement under the
      Securities Act providing for the resale of the Warrant Stock is not then in
      effect by the date such registration statement is required to be effective
      pursuant to the Registration Rights Agreement (as defined in the Purchase
      Agreement) or not effective at any time during the Effectiveness Period (as
      defined in the Registration Rights Agreement) in accordance with the terms
      of
      the Registration Rights Agreement, in lieu of exercising this Warrant by payment
      of cash, the Holder may exercise this Warrant by a cashless exercise and shall
      receive the number of shares of Common Stock equal to an amount (as determined
      below) by surrender of this Warrant at the principal office of the Issuer
      together with the properly endorsed Notice of Exercise in which event the Issuer
      shall issue to the Holder a number of shares of Common Stock computed using
      the
      following formula:

    

    X
      = Y -
(A)(Y)

                    
      B

    

    
      	
              Where

            	
              X
                =

            	
              the
                number of shares of Common Stock to be issued to the
                Holder.

            

    

    

    
      	 	
              Y
                =

            	
              the
                number of shares of Common Stock purchasable upon exercise of all
                of the
                Warrant or, if only a portion of the Warrant is being exercised,
                the
                portion of the Warrant being exercised.

            

    

    

    
      	 	
              A
                =

            	
              the
                Warrant Price. 

            

      	 	 	 

      	 	B =	the
              Per Share Market Value of one share of Common
              Stock.

    

     

    (d) Issuance
      of Stock Certificates.
      In the
      event of any exercise of this Warrant in accordance with and subject to the
      terms and conditions hereof, (i) certificates for the shares of Warrant Stock
      so
      purchased shall be dated the date of the issuance by the transfer agent and
      delivered to the Holder hereof within a reasonable time, not exceeding three
      (3)
      Trading Days after such exercise (the “Delivery
      Date”)
      or, at
      the request of the Holder (provided that a registration statement under the
      Securities Act providing for the resale of the Warrant Stock is then in effect),
      issued and delivered to the Depository Trust Company (“DTC”)
      account on the Holder’s behalf via the Deposit Withdrawal Agent Commission
      System (“DWAC”)
      within
      a reasonable time, not exceeding three (3) Trading Days after such exercise,
      and
      the Holder hereof shall be deemed for all purposes to be the holder of the
      shares of Warrant Stock so purchased as of the date of such exercise and (ii)
      unless this Warrant has expired, a new Warrant representing the number of shares
      of Warrant Stock, if any, with respect to which this Warrant shall not then
      have
      been exercised (less any amount thereof which shall have been canceled in
      payment or partial payment of the Warrant Price as hereinabove provided) shall
      also be issued to the Holder hereof at the Issuer’s expense within such
      time.

    

    
      
        
        

      

      
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          2

        
          

        

      

      
        
        

      

    

     

    (e) Compensation
      for Buy-In on Failure to Timely Deliver Certificates Upon
      Exercise.
      In
      addition to any other rights available to the Holder, if the Issuer fails to
      cause its transfer agent to transmit to the Holder a certificate or certificates
      representing the Warrant Stock pursuant to an exercise on or before the Delivery
      Date, and if after such date the Holder is required by its broker to purchase
      (in an open market transaction or otherwise) shares of Common Stock to deliver
      in satisfaction of a sale by the Holder of the Warrant Stock which the Holder
      anticipated receiving upon such exercise (a “Buy-In”),
      then
      the Issuer shall (1) pay in cash to the Holder the amount by which (x) the
      Holder’s total purchase price (including brokerage commissions, if any) for the
      shares of Common Stock so purchased exceeds (y) the amount obtained by
      multiplying (A) the number of shares of Warrant Stock that the Issuer was
      required to deliver to the Holder in connection with the exercise at issue
      times
      (B) the price at which the sell order giving rise to such purchase obligation
      was executed, and (2) at the option of the Holder, either reinstate the portion
      of the Warrant and equivalent number of shares of Warrant Stock for which such
      exercise was not honored or deliver to the Holder the number of shares of Common
      Stock that would have been issued had the Issuer timely complied with its
      exercise and delivery obligations hereunder. For example, if the Holder
      purchases Common Stock having a total purchase price of $11,000 to cover a
      Buy-In with respect to an attempted exercise of shares of Common Stock with
      an
      aggregate sale price giving rise to such purchase obligation of $10,000, under
      clause (1) of the immediately preceding sentence the Issuer shall be required
      to
      pay the Holder $1,000. The Holder shall provide the Issuer written notice
      indicating the amounts payable to the Holder in respect of the Buy-In, together
      with applicable confirmations and other evidence reasonably requested by the
      Issuer. Nothing herein shall limit a Holder’s right to pursue any other remedies
      available to it hereunder, at law or in equity including, without limitation,
      a
      decree of specific performance and/or injunctive relief with respect to the
      Issuer’s failure to timely deliver certificates representing shares of Common
      Stock upon exercise of this Warrant as required pursuant to the terms
      hereof.

     

    (f) Transferability
      of Warrant.
      Subject
      to Section 2(h), this Warrant may be transferred by a Holder without the consent
      of the Issuer. However, the Holder shall give written notice of such assignment
      of such transfer to the Issuer within three (3) business days of such transfer.
      If transferred pursuant to this paragraph, this Warrant may be transferred
      on
      the books of the Issuer by the Holder hereof in person or by duly authorized
      attorney, upon surrender of this Warrant at the principal office of the Issuer,
      properly endorsed (by the Holder executing an assignment in the form attached
      hereto) and upon payment of any necessary transfer tax or other governmental
      charge imposed upon such transfer. This Warrant is exchangeable at the principal
      office of the Issuer for Warrants to purchase the same aggregate number of
      shares of Warrant Stock, each new Warrant to represent the right to purchase
      such number of shares of Warrant Stock as the Holder hereof shall designate
      at
      the time of such exchange. All Warrants issued on transfers or exchanges shall
      be dated the Original Issue Date and shall be identical with this Warrant except
      as to the number of shares of Warrant Stock issuable pursuant
      thereto.

    

    
      
        
        

      

      
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          3

        
          

        

      

      
        
        

      

    

     

    (g) Continuing
      Rights of Holder.
      The
      Issuer will, at the time of or at any time after each exercise of this Warrant,
      upon the request of the Holder hereof, acknowledge in writing the extent, if
      any, of its continuing obligation to afford to such Holder all rights to which
      such Holder shall continue to be entitled after such exercise in accordance
      with
      the terms of this Warrant, provided
      that if
      any such Holder shall fail to make any such request, the failure shall not
      affect the continuing obligation of the Issuer to afford such rights to such
      Holder.

    

    (h) Compliance
      with Securities Laws.

    

    (i) The
      Holder of this Warrant, by acceptance hereof, acknowledges that this Warrant
      and
      the shares of Warrant Stock to be issued upon exercise hereof are being acquired
      solely for the Holder’s own account and not as a nominee for any other party,
      and for investment, and that the Holder will not offer, sell or otherwise
      dispose of this Warrant or any shares of Warrant Stock to be issued upon
      exercise hereof except pursuant to an effective registration statement, or
      an
      exemption from registration, under the Securities Act and any applicable state
      securities laws.

    

    (ii) Except
      as
      provided in paragraph (iii) below, this Warrant and all certificates
      representing shares of Warrant Stock issued upon exercise hereof shall be
      stamped or imprinted with a legend in substantially the following
      form:

    

    THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE
      DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE
      STATE SECURITIES LAWS OR THE ISSUER SHALL HAVE RECEIVED AN OPINION OF COUNSEL
      REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION OF SUCH SECURITIES
      UNDER
      THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES
      LAWS
      IS NOT REQUIRED.

    

    (iii) The
      Issuer agrees to reissue this Warrant or certificates representing any of the
      Warrant Stock, without the legend set forth above if at such time, prior to
      making any transfer of any such securities, the Holder shall give written notice
      to the Issuer describing the manner and terms of such transfer. Such proposed
      transfer will not be effected until: (a) either (i) the Issuer has received
      an
      opinion of counsel reasonably satisfactory to the Issuer, to the effect that
      the
      registration of such securities under the Securities Act is not required in
      connection with such proposed transfer, (ii) a registration statement under
      the
      Securities Act covering such proposed disposition has been filed by the Issuer
      with the Securities and Exchange Commission and has become effective under
      the
      Securities Act, (iii) the Issuer has received other evidence reasonably
      satisfactory to the Issuer that such registration and qualification under the
      Securities Act and state securities laws are not required, or (iv) the Holder
      provides the Issuer with reasonable assurances that such security can be sold
      pursuant to Rule 144 under the Securities Act; and (b) either (i) the Issuer
      has
      received an opinion of counsel reasonably satisfactory to the Issuer, to the
      effect that registration or qualification under the securities or “blue sky”
laws of any state is not required in connection with such proposed disposition,
      or (ii) compliance with applicable state securities or “blue sky” laws has been
      effected or a valid exemption exists with respect thereto. The Issuer will
      respond to any such notice from a holder within three (3) business days. In
      the
      case of any proposed transfer under this Section 2(h), the Issuer will use
      reasonable efforts to comply with any such applicable state securities or “blue
      sky” laws, but shall in no event be required, (x) to qualify to do business in
      any state where it is not then qualified, (y) to take any action that would
      subject it to tax or to the general service of process in any state where it
      is
      not then subject, or (z) to comply with state securities or “blue sky” laws of
      any state for which registration by coordination is unavailable to the Issuer.
      The restrictions on transfer contained in this Section 2(h) shall be in addition
      to, and not by way of limitation of, any other restrictions on transfer
      contained in any other section of this Warrant. Whenever
      a
      certificate representing the Warrant Stock is required to be issued to a the
      Holder without a legend, in lieu of delivering physical certificates
      representing the Warrant Stock, provided the Issuer’s transfer agent is
      participating in the DTC Fast Automated Securities Transfer program, the Issuer
      shall use its reasonable best efforts to cause its transfer agent to
      electronically transmit the Warrant Stock to the Holder by crediting the account
      of the Holder’s Prime Broker with DTC through its DWAC system (to the extent not
      inconsistent with any provisions of this Warrant or the Purchase
      Agreement). 

    

    
      
        
        

      

      
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          4

        
          

        

      

      
        
        

      

    

     

    (iv) In
      no
      event may the Holder exercise this Warrant in whole or in part unless the Holder
      is an “accredited investor” as defined in Regulation D under the Securities Act.

    

    3. Stock
      Fully Paid; Reservation and Listing of Shares; Covenants.

    

    (a) Stock
      Fully Paid.
      The
      Issuer represents, warrants, covenants and agrees that all shares of Warrant
      Stock which may be issued upon the exercise of this Warrant or otherwise
      hereunder will, when issued in accordance with the terms of this Warrant, be
      duly authorized, validly issued, fully paid and nonassessable and free from
      all
      taxes, liens and charges created by or through the Issuer. The Issuer further
      covenants and agrees that during the period within which this Warrant may be
      exercised, the Issuer will at all times have authorized and reserved for the
      purpose of issuance upon exercise of this Warrant a number of shares of Common
      Stock equal to at least one hundred twenty percent (120%) of the aggregate
      number of shares of Common Stock to provide for the exercise of this
      Warrant.

    

    (b) Reservation.
      If any
      shares of Common Stock required to be reserved for issuance upon exercise of
      this Warrant or as otherwise provided hereunder require registration or
      qualification with any governmental authority under any federal or state law
      before such shares may be so issued, the Issuer will in good faith use its
      best
      efforts as expeditiously as possible at its expense to cause such shares to
      be
      duly registered or qualified. If the Issuer shall list any shares of Common
      Stock on any securities exchange or market it will, at its expense, list
      thereon, maintain and increase when necessary such listing, of, all shares
      of
      Warrant Stock from time to time issued upon exercise of this Warrant or as
      otherwise provided hereunder (provided that such Warrant Stock has been
      registered pursuant to a registration statement under the Securities Act then
      in
      effect), and, to the extent permissible under the applicable securities exchange
      rules, all unissued shares of Warrant Stock which are at any time issuable
      hereunder, so long as any shares of Common Stock shall be so listed. The Issuer
      will also so list on each securities exchange or market, and will maintain
      such
      listing of, any other securities which the Holder of this Warrant shall be
      entitled to receive upon the exercise of this Warrant if at the time any
      securities of the same class shall be listed on such securities exchange or
      market by the Issuer.

    

    
      
        
        

      

      
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          5

        
          

        

      

      
        
        

      

    

     

    (c) Covenants.
      The
      Issuer shall not by any action including, without limitation, amending the
      Articles of Incorporation or the by-laws of the Issuer, or through any
      reorganization, transfer of assets, consolidation, merger, dissolution, issue
      or
      sale of securities or any other action, avoid or seek to avoid the observance
      or
      performance of any of the terms of this Warrant, but will at all times in good
      faith assist in the carrying out of all such terms and in the taking of all
      such
      actions as may be necessary or appropriate to protect the rights of the Holder
      hereof against dilution (to the extent specifically provided herein) or
      impairment. Without limiting the generality of the foregoing, the Issuer will
      (i) not permit the par value, if any, of its Common Stock to exceed the then
      effective Warrant Price, (ii) not amend or modify any provision of the Articles
      of Incorporation or by-laws of the Issuer in any manner that would adversely
      affect the rights of the Holders of the Warrants, (iii) take all such action
      as
      may be reasonably necessary in order that the Issuer may validly and legally
      issue fully paid and nonassessable shares of Common Stock, free and clear of
      any
      liens, claims, encumbrances and restrictions (other than as provided herein)
      upon the exercise of this Warrant, and (iv) use its best efforts to obtain
      all
      such authorizations, exemptions or consents from any public regulatory body
      having jurisdiction thereof as may be reasonably necessary to enable the Issuer
      to perform its obligations under this Warrant.

    

    (d) Loss,
      Theft, Destruction of Warrants.
      Upon
      receipt of evidence satisfactory to the Issuer of the ownership of and the
      loss,
      theft, destruction or mutilation of any Warrant and, in the case of any such
      loss, theft or destruction, upon receipt of indemnity or security satisfactory
      to the Issuer or, in the case of any such mutilation, upon surrender and
      cancellation of such Warrant, the Issuer will make and deliver, in lieu of
      such
      lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and
      representing the right to purchase the same number of shares of Common
      Stock.

    

    4. Adjustment
      of Warrant Price.
      The
      price at which such shares of Warrant Stock may be purchased upon exercise
      of
      this Warrant shall be subject to adjustment from time to time as set forth
      in
      this Section 4. The Issuer shall give the Holder notice of any event described
      below which requires an adjustment pursuant to this Section 4 in accordance
      with
      the notice provisions set forth in Section 5.

    

    
      
        
        

      

      
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          6

        
          

        

      

      
        
        

      

    

     

    (a) Recapitalization,
      Reorganization, Reclassification, Consolidation, Merger or Sale.

     

    (i)
      In
      case the Issuer after the Original Issue Date shall do any of the following
      (each, a “Triggering
      Event”):
      (a)
      consolidate or merge with or into any other Person and the Issuer shall not
      be
      the continuing or surviving corporation of such consolidation or merger, or
      (b)
      permit any other Person to consolidate with or merge into the Issuer and the
      Issuer shall be the continuing or surviving Person but, in connection with
      such
      consolidation or merger, any Capital Stock of the Issuer shall be changed into
      or exchanged for Securities of any other Person or cash or any other property,
      or (c) transfer all or substantially all of its properties or assets to any
      other Person, or (d) effect a capital reorganization or reclassification of
      its
      Capital Stock, then, and in the case of each such Triggering Event, proper
      provision shall be made so that, upon the basis and the terms and in the manner
      provided in this Warrant, the Holder of this Warrant shall be entitled upon
      the
      exercise hereof at any time after the consummation of such Triggering Event,
      to
      the extent this Warrant is not exercised prior to such Triggering Event, to
      receive at the Warrant Price in effect at the time immediately prior to the
      consummation of such Triggering Event in lieu of the Common Stock issuable
      upon
      such exercise of this Warrant prior to such Triggering Event, the Securities,
      cash and property to which such Holder would have been entitled upon the
      consummation of such Triggering Event if such Holder had exercised the rights
      represented by this Warrant immediately prior thereto (including the right
      of a
      shareholder to elect the type of consideration it will receive upon a Triggering
      Event), subject to adjustments (subsequent to such corporate action) as nearly
      equivalent as possible to the adjustments provided for elsewhere in this Section
      4. Notwithstanding the foregoing to the contrary, this Section 4(a)(i) shall
      only apply if the surviving entity pursuant to any such Triggering Event is
      a
      public company that is
      registered pursuant to the Securities Exchange Act of 1934, as amended, and
      its
      common stock is listed or quoted on a national exchange, OTC Bulletin Board
      or
      the Pink Sheets. In the event that the
      surviving entity pursuant to any such Triggering Event is not a public company
      that is
      registered pursuant to the Securities Exchange Act of 1934, as amended, or
      its
      common stock is not listed or quoted on a national exchange, OTC Bulletin Board
      or the Pink Sheets, then the Holder shall have the right to demand that the
      Issuer pay to the Holder an amount equal to the value of this Warrant according
      to the Black-Scholes formula.

    

    (ii) Notwithstanding
      anything contained in this Warrant to the contrary and so long as the surviving
      entity pursuant to any Triggering Event is a public company that is
      registered pursuant to the Securities Exchange Act of 1934, as amended, and
      its
      common stock is listed or quoted on a national exchange, OTC Bulletin Board
      or
      the Pink Sheets,
      a
      Triggering Event shall not be deemed to have occurred if, prior to the
      consummation thereof, each Person (other than the Issuer) which may be required
      to deliver any Securities, cash or property upon the exercise of this Warrant
      as
      provided herein shall assume, by written instrument delivered to, and reasonably
      satisfactory to, the Holder of this Warrant, (A) the obligations of the Issuer
      under this Warrant (and if the Issuer shall survive the consummation of such
      Triggering Event, such assumption shall be in addition to, and shall not release
      the Issuer from, any continuing obligations of the Issuer under this Warrant)
      and (B) the obligation to deliver to such Holder such Securities, cash or
      property as, in accordance with the foregoing provisions of this subsection
      (a),
      such Holder shall be entitled to receive, and such Person shall have similarly
      delivered to such Holder an opinion of counsel for such Person, which counsel
      shall be reasonably satisfactory to such Holder, or in the alternative, a
      written acknowledgement executed by the President or Chief Financial Officer
      of
      the Issuer, stating that this Warrant shall thereafter continue in full force
      and effect and the terms hereof (including, without limitation, all of the
      provisions of this subsection (a)) shall be applicable to the Securities, cash
      or property which such Person may be required to deliver upon any exercise
      of
      this Warrant or the exercise of any rights pursuant hereto. 

    

    
      
        
        

      

      
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          7

        
          

        

      

      
        
        

      

       

    

    (b) Stock
      Dividends, Subdivisions and Combinations.
      If at
      any time the Issuer shall:

    

      (i) make
      or
      issue or set a record date for the holders of the Common Stock for the purpose
      of entitling them to receive a dividend payable in, or other distribution of,
      shares of Common Stock, 

    

      (ii)
       subdivide
      its outstanding shares of Common Stock into a larger number of shares of Common
      Stock, or

    

      (iii)
       combine
      its outstanding shares of Common Stock into a smaller number of shares of Common
      Stock,

    

    then
      (1)
      the number of shares of Common Stock for which this Warrant is exercisable
      immediately after the occurrence of any such event shall be adjusted to equal
      the number of shares of Common Stock which a record holder of the same number
      of
      shares of Common Stock for which this Warrant is exercisable immediately prior
      to the occurrence of such event would own or be entitled to receive after the
      happening of such event, and (2) the Warrant Price then in effect shall be
      adjusted to equal (A) the Warrant Price then in effect multiplied by the number
      of shares of Common Stock for which this Warrant is exercisable immediately
      prior to the adjustment divided by (B) the number of shares of Common Stock
      for
      which this Warrant is exercisable immediately after such
      adjustment.

    

    (c) Certain
      Other Distributions.
      If at
      any time the Issuer shall make or issue or set a record date for the holders
      of
      the Common Stock for the purpose of entitling them to receive any dividend
      or
      other distribution of:

    

    (i) cash
      (other than a cash dividend payable out of earnings or earned surplus legally
      available for the payment of dividends under the laws of the jurisdiction of
      incorporation of the Issuer),

    

    (ii) any
      evidences of its indebtedness, any shares of stock of any class or any other
      securities or property of any nature whatsoever (other than cash, Common Stock
      Equivalents or Additional Shares of Common Stock), or

    

    (iii) any
      warrants or other rights to subscribe for or purchase any evidences of its
      indebtedness, any shares of stock of any class or any other securities or
      property of any nature whatsoever (other than cash, Common Stock Equivalents
      or
      Additional Shares of Common Stock), 

    

    then
      (1)
      the number of shares of Common Stock for which this Warrant is exercisable
      shall
      be adjusted to equal the product of the number of shares of Common Stock for
      which this Warrant is exercisable immediately prior to such adjustment
      multiplied by a fraction (A) the numerator of which shall be the Per Share
      Market Value of Common Stock at the date of taking such record and (B) the
      denominator of which shall be such Per Share Market Value minus the amount
      allocable to one share of Common Stock of any such cash so distributable and
      of
      the fair value (as determined in good faith by the Board of Directors of the
      Issuer and supported by an opinion from an investment banking firm of recognized
      national standing acceptable to (but not affiliated with) the Holder) of any
      and
      all such evidences of indebtedness, shares of stock, other securities or
      property or warrants or other subscription or purchase rights so distributable,
      and (2) the Warrant Price then in effect shall be adjusted to equal (A) the
      Warrant Price then in effect multiplied by the number of shares of Common Stock
      for which this Warrant is exercisable immediately prior to the adjustment
      divided by (B) the number of shares of Common Stock for which this Warrant
      is
      exercisable immediately after such adjustment. A reclassification of the Common
      Stock (other than a change in par value, or from par value to no par value
      or
      from no par value to par value) into shares of Common Stock and shares of any
      other class of stock shall be deemed a distribution by the Issuer to the holders
      of its Common Stock of such shares of such other class of stock within the
      meaning of this Section 4(c) and, if the outstanding shares of Common Stock
      shall be changed into a larger or smaller number of shares of Common Stock
      as a
      part of such reclassification, such change shall be deemed a subdivision or
      combination, as the case may be, of the outstanding shares of Common Stock
      within the meaning of Section 4(b). 

    

    
      
        
        

      

      
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    (d) Issuance
      of Additional Shares of Common Stock.
      In the
      event the Issuer shall at any time following the Original Issue Date issue
      any
      Additional Shares of Common Stock (otherwise than as provided in the foregoing
      subsections (b) through (c) of this Section 4), at a price per share less than
      the Warrant Price then in effect or without consideration, then the Warrant
      Price upon each such issuance shall be adjusted to the price equal to the
      consideration per share paid for such Additional Shares of Common Stock.
      Notwithstanding the foregoing, the Company shall have a right to institute
      a
      stock grant or stock option plan for the Company’s employees not exceeding five
      percent (5%) of the outstanding stock of the Company, without violating the
      terms of this paragraph.

    

    (e)
       Issuance
      of Common Stock Equivalents.
      If at
      any time the Issuer shall take a record of the holders of its Common Stock
      for
      the purpose of entitling them to receive a distribution of, or shall in any
      manner (whether directly or by assumption in a merger in which the Issuer is
      the
      surviving corporation) issue or sell, any Common Stock Equivalents, whether
      or
      not the rights to exchange or convert thereunder are immediately exercisable,
      and the price per share for which Common Stock is issuable upon such conversion
      or exchange shall be less than the Warrant Price in effect immediately prior
      to
      the time of such issue or sale, or if, after any such issuance of Common Stock
      Equivalents, the price per share for which Additional Shares of Common Stock
      may
      be issuable thereafter is amended or adjusted, and such price as so amended
      shall make be less than the Warrant Price in effect at the time of such
      amendment or adjustment, then the Warrant Price then in effect shall be adjusted
      as provided in Section 4(d). No further adjustments of the number of shares
      of
      Common Stock for which this Warrant is exercisable and the Warrant Price then
      in
      effect shall be made upon the actual issue of such Common Stock upon conversion
      or exchange of such Common Stock Equivalents. Notwithstanding the foregoing,
      the
      Company shall have a right to institute a stock grant or stock option plan
      for
      the Company’s employees not exceeding five percent (5%) of the outstanding stock
      of the Company, without violating the terms of this paragraph.

    

    (f) Other
      Provisions applicable to Adjustments under this Section.
      The
      following provisions shall be applicable to the making of adjustments of the
      number of shares of Common Stock for which this Warrant is exercisable and
      the
      Warrant Price then in effect provided for in this Section 4:

    

    
      
        
        

      

      
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    (i) Computation
      of Consideration.
      To the
      extent that any Additional Shares of Common Stock or any Common Stock
      Equivalents (or any warrants or other rights therefor) shall be issued for
      cash
      consideration, the consideration received by the Issuer therefor shall be the
      amount of the cash received by the Issuer therefor, or, if such Additional
      Shares of Common Stock or Common Stock Equivalents are offered by the Issuer
      for
      subscription, the subscription price, or, if such Additional Shares of Common
      Stock or Common Stock Equivalents are sold to underwriters or dealers for public
      offering without a subscription offering, the initial public offering price
      (in
      any such case subtracting any amounts paid or receivable for accrued interest
      or
      accrued dividends and without taking into account any compensation, discounts
      or
      expenses paid or incurred by the Issuer for and in the underwriting of, or
      otherwise in connection with, the issuance thereof). In connection with any
      merger or consolidation in which the Issuer is the surviving corporation (other
      than any consolidation or merger in which the previously outstanding shares
      of
      Common Stock of the Issuer shall be changed to or exchanged for the stock or
      other securities of another corporation), the amount of consideration therefore
      shall be, deemed to be the fair value of such portion of the assets and business
      of the nonsurviving corporation as the Board may determine to be attributable
      to
      such shares of Common Stock or Common Stock Equivalents, as the case may be.
      Such determination of the fair value of such consideration shall be made by
      an
      Independent Appraiser. The consideration for any Additional Shares of Common
      Stock issuable pursuant to the terms of any Common Stock Equivalents shall
      be
      the consideration received by the Issuer for issuing such Common Stock
      Equivalents, plus the additional consideration, if any, payable to the Issuer
      upon the exercise of the right of conversion or exchange in such Common Stock
      Equivalents. In the event of any consolidation or merger of the Issuer in which
      the Issuer is not the surviving corporation or in which the previously
      outstanding shares of Common Stock of the Issuer shall be changed into or
      exchanged for the stock or other securities of another corporation, or in the
      event of any sale of all or substantially all of the assets of the Issuer for
      stock or other securities of any corporation, the Issuer shall be deemed to
      have
      issued a number of shares of its Common Stock for stock or securities or other
      property of the other corporation computed on the basis of the actual exchange
      ratio on which the transaction was predicated, and for a consideration equal
      to
      the fair market value on the date of such transaction of all such stock or
      securities or other property of the other corporation. In the event any
      consideration received by the Issuer for any securities consists of property
      other than cash, the fair market value thereof at the time of issuance or as
      otherwise applicable shall be as determined in good faith by the Board. In
      the
      event Common Stock is issued with other shares or securities or other assets
      of
      the Issuer for consideration which covers both, the consideration computed
      as
      provided in this Section 4(f)(i) shall be allocated among such securities and
      assets as determined in good faith by the Board.

    

    (ii) When
      Adjustments to Be Made.
      The
      adjustments required by this Section 4 shall be made whenever and as often
      as
      any specified event requiring an adjustment shall occur, except that any
      adjustment of the number of shares of Common Stock for which this Warrant is
      exercisable that would otherwise be required may be postponed (except in the
      case of a subdivision or combination of shares of the Common Stock, as provided
      for in Section 4(b)) up to, but not beyond the date of exercise if such
      adjustment either by itself or with other adjustments not previously made adds
      or subtracts less than one percent (1%) of the shares of Common Stock for which
      this Warrant is exercisable immediately prior to the making of such adjustment.
      Any adjustment representing a change of less than such minimum amount (except
      as
      aforesaid) which is postponed shall be carried forward and made as soon as
      such
      adjustment, together with other adjustments required by this Section 4 and
      not
      previously made, would result in a minimum adjustment or on the date of
      exercise. For the purpose of any adjustment, any specified event shall be deemed
      to have occurred at the close of business on the date of its
      occurrence.

    

    
      
        
        

      

      
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    (iii) Fractional
      Interests.
      In
      computing adjustments under this Section 4, fractional interests in Common
      Stock
      shall be taken into account to the nearest one one-hundredth (1/100th)
      of a
      share.

    

    (iv) When
      Adjustment Not Required.
      If the
      Issuer shall take a record of the holders of its Common Stock for the purpose
      of
      entitling them to receive a dividend or distribution or subscription or purchase
      rights and shall, thereafter and before the distribution to stockholders
      thereof, legally abandon its plan to pay or deliver such dividend, distribution,
      subscription or purchase rights, then thereafter no adjustment shall be required
      by reason of the taking of such record and any such adjustment previously made
      in respect thereof shall be rescinded and annulled.

     

    (g) Form
      of Warrant after Adjustments.
      The
      form of this Warrant need not be changed because of any adjustments in the
      Warrant Price or the number and kind of Securities purchasable upon the exercise
      of this Warrant.

    

    (h) Escrow
      of Warrant Stock.
      If
      after any property becomes distributable pursuant to this Section 4 by reason
      of
      the taking of any record of the holders of Common Stock, but prior to the
      occurrence of the event for which such record is taken, and the Holder exercises
      this Warrant, any shares of Common Stock issuable upon exercise by reason of
      such adjustment shall be deemed the last shares of Common Stock for which this
      Warrant is exercised (notwithstanding any other provision to the contrary
      herein) and such shares or other property shall be held in escrow for the Holder
      by the Issuer to be issued to the Holder upon and to the extent that the event
      actually takes place, upon payment of the current Warrant Price. Notwithstanding
      any other provision to the contrary herein, if the event for which such record
      was taken fails to occur or is rescinded, then such escrowed shares shall be
      cancelled by the Issuer and escrowed property returned.

    

    5. Notice
      of Adjustments.
      Whenever the Warrant Price or Warrant Share Number shall be adjusted pursuant
      to
      Section 4 hereof (for purposes of this Section 5, each an “adjustment”),
      the
      Issuer shall cause its Chief Financial Officer to prepare and execute a
      certificate setting forth, in reasonable detail, the event requiring the
      adjustment, the amount of the adjustment, the method by which such adjustment
      was calculated (including a description of the basis on which the Board made
      any
      determination hereunder), and the Warrant Price and Warrant Share Number after
      giving effect to such adjustment, and shall cause copies of such certificate
      to
      be delivered to the Holder of this Warrant promptly after each adjustment.
      Any
      dispute between the Issuer and the Holder of this Warrant with respect to the
      matters set forth in such certificate may at the option of the Holder of this
      Warrant be submitted to a national or regional accounting firm reasonably
      acceptable to the Issuer and the Holder, provided
      that the
      Issuer shall have ten (10) days after receipt of notice from such Holder of
      its
      selection of such firm to object thereto, in which case such Holder shall select
      another such firm and the Issuer shall have no such right of objection. The
      firm
      selected by the Holder of this Warrant as provided in the preceding sentence
      shall be instructed to deliver a written opinion as to such matters to the
      Issuer and such Holder within thirty (30) days after submission to it of such
      dispute. Such opinion shall be final and binding on the parties hereto. The
      costs and expenses of the initial accounting firm shall be paid equally by
      the
      Issuer and the Holder and, in the case of an objection by the Issuer, the costs
      and expenses of the subsequent accounting firm shall be paid in full by the
      Issuer.

    

    
      
        
        

      

      
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    6. Fractional
      Shares.
      No
      fractional shares of Warrant Stock will be issued in connection with any
      exercise hereof, but in lieu of such fractional shares, the Issuer shall make
      a
      cash payment therefor equal in amount to the product of the applicable fraction
      multiplied by the Per Share Market Value then in effect.

    

    7. Ownership
      Cap and Certain Exercise Restrictions.
      (a)
      Notwithstanding anything to the contrary set forth in this Warrant, at no time
      may a Holder of this Warrant exercise this Warrant if the number of shares
      of
      Common Stock to be issued pursuant to such exercise would exceed, when
      aggregated with all other shares of Common Stock owned by such Holder at such
      time, the number of shares of Common Stock which would result in such Holder
      beneficially owning (as determined in accordance with Section 13(d) of the
      Exchange Act and the rules thereunder) in excess of 4.9% of the then issued
      and
      outstanding shares of Common Stock; provided,
      however,
      that
      upon a holder of this Warrant providing the Issuer with sixty-one (61) days
      notice (pursuant to Section 13 hereof) (the “Waiver
      Notice”)
      that
      such Holder would like to waive this Section 7(a) with regard to any or all
      shares of Common Stock issuable upon exercise of this Warrant, this Section
      7(a)
      will be of no force or effect with regard to all or a portion of the Warrant
      referenced in the Waiver Notice; provided,
      further,
      that
      this provision shall be of no further force or effect during the sixty-one
      (61)
      days immediately preceding the expiration of the term of this
      Warrant.

    

    (b) The
      Holder may not exercise the Warrant hereunder to the extent such exercise would
      result in the Holder beneficially owning (as determined in accordance with
      Section 13(d) of the Exchange Act and the rules thereunder) in excess of 9.9%
      of
      the then issued and outstanding shares of Common Stock, including shares
      issuable upon exercise of the Warrant held by the Holder after application
      of
      this Section; provided,
      however,
      that
      upon a holder of this Warrant providing the Issuer with a Waiver Notice that
      such holder would like to waive this Section 7(b) with regard to any or all
      shares of Common Stock issuable upon exercise of this Warrant, this Section
      7(b)
      shall be of no force or effect with regard to those shares of Warrant Stock
      referenced in the Waiver Notice; provided,
      further,
      that
      this provision shall be of no further force or effect during the sixty-one
      (61)
      days immediately preceding the expiration of the term of this
      Warrant.

    

    8. [Intentionally
      omitted]. 

    

    9. Definitions.
      For the
      purposes of this Warrant, the following terms have the following
      meanings:

    

    “Additional
      Shares of Common Stock”
means
      all shares of Common Stock issued by the Issuer after the Original Issue Date,
      and all shares of Other Common, if any, issued by the Issuer after the Original
      Issue Date, except: (i) securities issued (other than for cash) in connection
      with a merger, acquisition, or consolidation, (ii) securities issued pursuant
      to
      a bona fide firm underwritten public offering of the Issuer’s securities, (iii)
      securities issued pursuant to the conversion or exercise of convertible or
      exercisable securities issued or outstanding on or prior to the date hereof
      or
      issued pursuant to the Purchase Agreement, (iv) the Warrant Stock, (v)
      securities issued in connection with bona fide strategic license agreements
      or
      other partnering arrangements so long as such issuances are not for the purpose
      of raising capital, (vi) Common Stock issued or options to purchase Common
      Stock
      granted or issued pursuant to the Issuer’s employee stock purchase plans as they
      now exist and stock incentive plans as they now exist, (vii) any warrants issued
      to the placement agent and its designees for the transactions contemplated
      by
      the Purchase Agreement, and (viii) the payment of any principal and accrued
      interest in shares of Common Stock pursuant to the Notes. 

    

    
      
        
        

      

      
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    “Articles
      of Incorporation”
means
      the Articles of Incorporation of the Issuer as in effect on the Original Issue
      Date, and as hereafter from time to time amended, modified, supplemented or
      restated in accordance with the terms hereof and thereof and pursuant to
      applicable law. 

    

    “Board”
shall
      mean the Board of Directors of the Issuer.

    

    “Capital
      Stock”
means
      and includes (i) any and all shares, interests, participations or other
      equivalents of or interests in (however designated) corporate stock, including,
      without limitation, shares of preferred or preference stock, (ii) all
      partnership interests (whether general or limited) in any Person which is a
      partnership, (iii) all membership interests or limited liability company
      interests in any limited liability company, and (iv) all equity or ownership
      interests in any Person of any other type.

    

    “Common
      Stock”
means
      the Common Stock, par value $.001 per share, of the Issuer and any other Capital
      Stock into which such stock may hereafter be changed.

    

    “Common
      Stock Equivalent”
means
      any Convertible Security or warrant, option or other right to subscribe for
      or
      purchase any Additional Shares of Common Stock or any Convertible
      Security.

    

    “Convertible
      Securities”
means
      evidences of Indebtedness, shares of Capital Stock or other Securities which
      are
      or may be at any time convertible into or exchangeable for Additional Shares
      of
      Common Stock. The term “Convertible Security” means one of the Convertible
      Securities.

    

    “Governmental
      Authority”
means
      any governmental, regulatory or self-regulatory entity, department, body,
      official, authority, commission, board, agency or instrumentality, whether
      federal, state or local, and whether domestic or foreign.

    

    “Holders”
mean
      the Persons who shall from time to time own any Warrant. The term “Holder” means
      one of the Holders.

    

    “Independent
      Appraiser”
means
      a
      nationally recognized or major regional investment banking firm or firm of
      independent certified public accountants of recognized standing (which may
      be
      the firm that regularly examines the financial statements of the Issuer) that
      is
      regularly engaged in the business of appraising the Capital Stock or assets
      of
      corporations or other entities as going concerns, and which is not affiliated
      with either the Issuer or the Holder of any Warrant.

    

    
      
        
        

      

      
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    “Issuer”
means
      Interlink Global Corp., a Nevada corporation, and its successors. 

    

    “Majority
      Holders”
means
      at any time the Holders of Warrants exercisable for a majority of the shares
      of
      Warrant Stock issuable under the Warrants at the time outstanding.

    

    “Notes”
means
      the senior secured convertible promissory notes issued
      by
      the Issuer pursuant to the Purchase Agreement.

    

    “Original
      Issue Date”
means
      February 28, 2006.

     

    “OTC
      Bulletin Board”
means
      the over-the-counter electronic bulletin board.

    

    “Other
      Common”
means
      any other Capital Stock of the Issuer of any class which shall be authorized
      at
      any time after the date of this Warrant (other than Common Stock) and which
      shall have the right to participate in the distribution of earnings and assets
      of the Issuer without limitation as to amount.

    

    “Outstanding
      Common Stock”
means,
      at any given time, the aggregate amount of outstanding shares of Common Stock,
      assuming full exercise, conversion or exchange (as applicable) of all options,
      warrants and other Securities which are convertible into or exercisable or
      exchangeable for, and any right to subscribe for, shares of Common Stock that
      are outstanding at such time.

    

    “Person”
means
      an individual, corporation, limited liability company, partnership, joint stock
      company, trust, unincorporated organization, joint venture, Governmental
      Authority or other entity of whatever nature.

    

    “Per
      Share Market Value”
means
      on any particular date (a) the last trading price per share of the Common Stock
      on such date on the Pink Sheets, OTC
      Bulletin Board or
      another registered national stock exchange on which the Common Stock is then
      listed, or if there is no such price on such date, then the closing bid price
      on
      such exchange or quotation system on the date nearest preceding such date,
      or
      (b) if the Common Stock is not listed then on the Pink Sheets, OTC Bulletin
      Board or any registered national stock exchange, the last trading price for
      a
      share of Common Stock in the over-the-counter market, as reported by the Pink
      Sheets, OTC Bulletin Board or in the National Quotation Bureau Incorporated
      or
      similar organization or agency succeeding to its functions of reporting prices)
      at the close of business on such date, or (c) if the Common Stock is not then
      reported by the OTC Bulletin Board or the National Quotation Bureau Incorporated
      (or similar organization or agency succeeding to its functions of reporting
      prices), then the average of the “Pink Sheet” quotes for the five (5) Trading
      Days preceding such date of determination, or (d) if the Common Stock is not
      then publicly traded the fair market value of a share of Common Stock as
      determined by an Independent Appraiser selected in good faith by the Majority
      Holders; provided,
      however,
      that
      the Issuer, after receipt of the determination by such Independent Appraiser,
      shall have the right to select an additional Independent Appraiser, in which
      case, the fair market value shall be equal to the average of the determinations
      by each such Independent Appraiser; and provided,
      further
      that all
      determinations of the Per Share Market Value shall be appropriately adjusted
      for
      any stock dividends, stock splits or other similar transactions during such
      period. The determination of fair market value by an Independent Appraiser
      shall
      be based upon the fair market value of the Issuer determined on a going concern
      basis as between a willing buyer and a willing seller and taking into account
      all relevant factors determinative of value, and shall be final and binding
      on
      all parties. In determining the fair market value of any shares of Common Stock,
      no consideration shall be given to any restrictions on transfer of the Common
      Stock imposed by agreement or by federal or state securities laws, or to the
      existence or absence of, or any limitations on, voting rights.

    

    
      
        
        

      

      
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    “Purchase
      Agreement”
means
      the Note and Warrant Purchase Agreement dated as of February 28, 2006, among
      the
      Issuer and the Purchasers.

    

    “Purchasers”
means
      the purchasers of the Notes and
      the
      Warrants issued by the Issuer pursuant to the Purchase Agreement.

    

    “Securities”
means
      any debt or equity securities of the Issuer, whether now or hereafter
      authorized, any instrument convertible into or exchangeable for Securities
      or a
      Security, and any option, warrant or other right to purchase or acquire any
      Security. “Security” means one of the Securities.

    

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, or any similar federal statute then
      in
      effect.

    

    “Subsidiary”
means
      any corporation at least 50% of whose outstanding Voting Stock shall at the
      time
      be owned directly or indirectly by the Issuer or by one or more of its
      Subsidiaries, or by the Issuer and one or more of its Subsidiaries.

    

    “Term”
has
      the
      meaning specified in Section 1 hereof.

    

    “Trading
      Day”
means
      (a) a day on which the Common Stock is traded on the Pink Sheets or OTC Bulletin
      Board, or (b) if the Common Stock is not traded on the Pink Sheets or OTC
      Bulletin Board, a day on which the Common Stock is quoted in the
      over-the-counter market as reported by the National Quotation Bureau
      Incorporated (or any similar organization or agency succeeding its functions
      of
      reporting prices); provided,
      however,
      that in
      the event that the Common Stock is not listed or quoted as set forth in (a)
      or
      (b) hereof, then Trading Day shall mean any day except Saturday, Sunday and
      any
      day which shall be a legal holiday or a day on which banking institutions in
      the
      State of New York are authorized or required by law or other government action
      to close.

    

    “Voting
      Stock”
means,
      as applied to the Capital Stock of any corporation, Capital Stock of any class
      or classes (however designated) having ordinary voting power for the election
      of
      a majority of the members of the Board of Directors (or other governing body)
      of
      such corporation, other than Capital Stock having such power only by reason
      of
      the happening of a contingency.

    

    “Warrants”
means
      the Warrants issued and sold pursuant to the Purchase Agreement, including,
      without limitation, this Warrant, and any other warrants of like tenor issued
      in
      substitution or exchange for any thereof pursuant to the provisions of Section
      2(c), 2(d) or 2(e) hereof or of any of such other Warrants. 

    

    
      
        
        

      

      
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    “Warrant
      Price”
      initially means $3.25,
      as such
      price may be adjusted from time to time as shall result from the adjustments
      specified in this Warrant, including Section 4 hereto.

    

    “Warrant
      Share Number”
means
      at any time the aggregate number of shares of Warrant Stock which may at such
      time be purchased upon exercise of this Warrant, after giving effect to all
      prior adjustments and increases to such number made or required to be made
      under
      the terms hereof.

    

    “Warrant
      Stock”
means
      Common Stock issuable upon exercise of any Warrant or Warrants or otherwise
      issuable pursuant to any Warrant or Warrants.

    

    10. Other
      Notices.
      In case
      at any time:

    

    (a) the
      Issuer shall make any distributions to the holders of Common Stock;
      or

    

    (b) the
      Issuer shall authorize the granting to all holders of its Common Stock of rights
      to subscribe for or purchase any shares of Capital Stock of any class or other
      rights; or

    

    (c) there
      shall be any reclassification of the Capital Stock of the Issuer;
      or

    

    (d) there
      shall be any capital reorganization by the Issuer; or

    

    (e) there
      shall be any (i) consolidation or merger involving the Issuer or (ii) sale,
      transfer or other disposition of all or substantially all of the Issuer’s
      property, assets or business (except a merger or other reorganization in which
      the Issuer shall be the surviving corporation and its shares of Capital Stock
      shall continue to be outstanding and unchanged and except a consolidation,
      merger, sale, transfer or other disposition involving a wholly-owned
      Subsidiary); or

    

    (f) there
      shall be a voluntary or involuntary dissolution, liquidation or winding-up
      of
      the Issuer or any partial liquidation of the Issuer or distribution to holders
      of Common Stock;

    

    then,
      in
      each of such cases, the Issuer shall give written notice to the Holder of the
      date on which (i) the books of the Issuer shall close or a record shall be
      taken
      for such dividend, distribution or subscription rights or (ii) such
      reorganization, reclassification, consolidation, merger, disposition,
      dissolution, liquidation or winding-up, as the case may be, shall take place.
      Such notice also shall specify the date as of which the holders of Common Stock
      of record shall participate in such dividend, distribution or subscription
      rights, or shall be entitled to exchange their certificates for Common Stock
      for
      securities or other property deliverable upon such reorganization,
      reclassification, consolidation, merger, disposition, dissolution, liquidation
      or winding-up, as the case may be. Such notice shall be given at least twenty
      (20) days prior to the action in question and not less than ten (10) days prior
      to the record date or the date on which the Issuer’s transfer books are closed
      in respect thereto. This Warrant entitles the Holder to receive copies of all
      financial and other information distributed or required to be distributed to
      the
      holders of the Common Stock.

    

    11. Amendment
      and Waiver.
      Any
      term, covenant, agreement or condition in this Warrant may be amended, or
      compliance therewith may be waived (either generally or in a particular instance
      and either retroactively or prospectively), by a written instrument or written
      instruments executed by the Issuer and the Majority Holders; provided,
      however,
      that no
      such amendment or waiver shall reduce the Warrant Share Number, increase the
      Warrant Price (unless and accumulation has occurred as described herein),
      shorten the period during which this Warrant may be exercised or modify any
      provision of this Section 11 without the consent of the Holder of this Warrant.
      No consideration shall be offered or paid to any person to amend or consent
      to a
      waiver or modification of any provision of this Warrant unless the same
      consideration is also offered to all holders of the Warrants.

    

    
      
        
        

      

      
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    12. Governing
      Law; Jurisdiction.
      This
      Warrant shall be governed by and construed in accordance with the internal
      laws
      of the State of New York, without giving effect to any of the conflicts of
      law
      principles which would result in the application of the substantive law of
      another jurisdiction. This Warrant shall not be interpreted or construed with
      any presumption against the party causing this Warrant to be drafted. The Issuer
      and the Holder agree that venue for any dispute arising under this Warrant
      will
      lie exclusively in the state or federal courts located in New York County,
      New
      York, and the parties irrevocably waive any right to raise forum
      non conveniens
      or any
      other argument that New York is not the proper venue. The Issuer and the Holder
      irrevocably consent to personal jurisdiction in the state and federal courts
      of
      the state of New York. The Issuer and the Holder consent to process being served
      in any such suit, action or proceeding by mailing a copy thereof to such party
      at the address in effect for notices to it under this Warrant and agrees that
      such service shall constitute good and sufficient service of process and notice
      thereof. Nothing in this Section 12 shall affect or limit any right to serve
      process in any other manner permitted by law. The Issuer and the Holder hereby
      agree that the prevailing party in any suit, action or proceeding arising out
      of
      or relating to this Warrant or the Purchase Agreement, shall be entitled to
      reimbursement for reasonable legal fees from the non-prevailing party. The
      parties hereby waive all rights to a trial by jury.

    

    13. Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earlier of (i) the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile telephone number specified for
      notice prior to 5:00 p.m., eastern time, on a Trading Day, (ii) the Trading
      Day
      after the date of transmission, if such notice or communication is delivered
      via
      facsimile at the facsimile telephone number specified for notice later than
      5:00
      p.m., eastern time, on any date and earlier than 11:59 p.m., eastern time,
      on
      such date, (iii) the Trading Day following the date of mailing, if sent by
      overnight delivery by a nationally recognized overnight courier service or
      (iv)
      actual receipt by the party to whom such notice is required to be given. The
      addresses for such communications shall be with respect to the Holder of this
      Warrant or of Warrant Stock issued pursuant hereto, addressed to such Holder
      at
      its last known address or facsimile number appearing on the books of the Issuer
      maintained for such purposes, or with respect to the Issuer, addressed
      to:

    

    Interlink
      Global Corp. 

    6205
      Lagoon Drive, Suite 110

    Miami,
      FL
      33126

    Phone:
      (305) 261-2007

    Fax:
      (305) 261-2250

    

    
      
        
        

      

      
        Page
          17

        
          

        

      

      
        
        

      

    

     

    Copies
      of
      notices to the Holder shall be sent to:

    

    The
      Baum
      Law Firm

    580 Second
      Street, Suite 102

    Encinitas,
      California 92024

    Attention:
      Mark L. Baum

    Tel.
      No.: (760) 230-2300, ext. 205

    Fax
      No.: (760) 230-2305

    

    Any
      party
      hereto may from time to time change its address for notices by giving at least
      ten (10) days written notice of such changed address to the other party
      hereto.

    

    14. Warrant
      Agent.
      The
      Issuer may, by written notice to each Holder of this Warrant, appoint an agent
      having an office in New York, New York for the purpose of issuing shares of
      Warrant Stock on the exercise of this Warrant pursuant to subsection (b) of
      Section 2 hereof, exchanging this Warrant pursuant to subsection (d) of Section
      2 hereof or replacing this Warrant pursuant to subsection (d) of Section 3
      hereof, or any of the foregoing, and thereafter any such issuance, exchange
      or
      replacement, as the case may be, shall be made at such office by such
      agent.

    

    15. Remedies.
      The
      Issuer stipulates that the remedies at law of the Holder of this Warrant in
      the
      event of any default or threatened default by the Issuer in the performance
      of
      or compliance with any of the terms of this Warrant are not and will not be
      adequate and that, to the fullest extent permitted by law, such terms may be
      specifically enforced by a decree for the specific performance of any agreement
      contained herein or by an injunction against a violation of any of the terms
      hereof or otherwise.

    

    16. Successors
      and Assigns.
      This
      Warrant and the rights evidenced hereby shall inure to the benefit of and be
      binding upon the successors and assigns of the Issuer, the Holder hereof and
      (to
      the extent provided herein) the Holders of Warrant Stock issued pursuant hereto,
      and shall be enforceable by any such Holder or Holder of Warrant
      Stock.

    

    17. Modification
      and Severability.
      If, in
      any action before any court or agency legally empowered to enforce any provision
      contained herein, any provision hereof is found to be unenforceable, then such
      provision shall be deemed modified to the extent necessary to make it
      enforceable by such court or agency. If any such provision is not enforceable
      as
      set forth in the preceding sentence, the unenforceability of such provision
      shall not affect the other provisions of this Warrant, but this Warrant shall
      be
      construed as if such unenforceable provision had never been contained
      herein.

    

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

    

    
      
        
        

      

      
        Page
          18

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the Issuer has executed this Series
      F Warrant
      as of
      the day and year first above written.

    
      	 	 	 
	 	INTERLINK
              GLOBAL
              CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name: Anastasios
                N. Kyriakides

              Title: President

            
	 	Title 

    
      
        
        

      

      
        Page
          19

        
          

        

      

      
        
        

      

    

        

    EXERCISE
      FORM

    SERIES
      F
      WARRANT

    INTERLINK
      GLOBAL CORP.

    

    The
      undersigned _________________________________________________________________,
      pursuant to the provisions of the within Warrant, hereby elects to purchase
      ___________ shares of Common Stock of Interlink Global Corp. covered by the
      within Warrant for the following purchase price:

    $
      _________________________.

     

    
      
        	
                Dated:
                  _________________

              	
                 

              	
                Signature _______________________________________

              
	
                 

              	
                 

              	
                Address 
                   _______________________________________

              
	
                 

              	
                 

              	
                               
                   
_______________________________________

              

      

       

    

    Number
      of
      shares of Common Stock beneficially owned or deemed beneficially owned by the
      Holder on the date of Exercise: _________________________

    

    ASSIGNMENT

    

    FOR
      VALUE
      RECEIVED, _________________ hereby sells, assigns and transfers unto
      __________________ the within Warrant and all rights evidenced thereby and
      does
      irrevocably constitute and appoint _____________, attorney, to transfer the
      said
      Warrant on the books of the within named corporation.

    

      
        	
                Dated:
                  _________________

              	
                 

              	
                Signature _______________________________________

              
	
                 

              	
                 

              	
                Address 
                   _______________________________________

              
	
                 

              	
                 

              	
                             
                   _______________________________________

              

      

    

    

    PARTIAL
      ASSIGNMENT

    

    FOR
      VALUE
      RECEIVED, _________________ hereby sells, assigns and transfers unto
      __________________ the right to purchase _________ shares of Warrant Stock
      evidenced by the within Warrant together with all rights therein, and does
      irrevocably constitute and appoint ___________________, attorney, to transfer
      that part of the said Warrant on the books of the within named
      corporation.

    

      
        	
                Dated:
                  _________________

              	
                 

              	
                Signature _______________________________________

              
	
                 

              	
                 

              	
                Address 
                   _______________________________________

              
	
                 

              	
                 

              	
                         
                  _______________________________________

              

      

    

     

    FOR
      USE
      BY THE ISSUER ONLY:

    

    This
      Warrant No. W-___ canceled (or transferred or exchanged) this _____ day of
      ___________, _____, shares of Common Stock issued therefor in the name of
      _______________, Warrant No. W-_____ issued for ____ shares of Common Stock
      in
      the name of _______________.

    

    
      
        
        

      

      
        -20-THIS
        NOTE AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION HEREOF HAVE
        NOT
        BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
        APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED, OR OTHERWISE
        DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE MAKER OF
        AN
        OPINION OF COUNSEL IN THE FORM, SUBSTANCE AND SCOPE REASONABLY SATISFACTORY
        TO
        THE MAKER THAT THIS NOTE AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION
        HEREOF MAY BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF, UNDER AN EXEMPTION
        FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES
        LAWS.

      

      INTERLINK
        GLOBAL CORP.

      

      Series
        A 

      Senior
        Convertible Promissory Note

      

      
        	
                Note
                  Number

              	
                 

              	
                2005-A-NOTE-001

              
	
                 

              	
                 

              	
                 

              
	
                Note
                  Issue Date

              	
                 

              	
                November
                  29, 2005

              
	
                 

              	
                 

              	
                 

              
	
                Maturity
                  Date

              	
                 

              	
                May
                  29, 2007

              
	
                 

              	
                 

              	
                 

              
	
                Name
                  of Note Holder

              	
                 

              	
                Vicis
                  Capital Master Fund    

              
	
                 

              	
                 

              	
                 

              
	
                Total
                  Amount of Note

              	
                 

              	
                $2,000,000

              

      

      

      For
        value
        received, Interlink Global Corp, a Nevada corporation (the “Maker”),
        hereby promises to pay to the order of the “Holder” identified above, (together
        with its successors, representatives, and permitted assigns, the “Holder”),
        in
        accordance with the terms hereinafter provided, the principal amount set
        forth
        above, together with interest thereon. Concurrently with the issuance of
        this
        Note, the Maker is issuing separate senior convertible promissory notes (the
        “Other
        Notes”)
        to
        separate purchasers (the “Other
        Holders”)
        pursuant to the Purchase Agreement (as defined in Section 1.1 hereof).

       

      All
        payments under or pursuant to this Note shall be made in United States Dollars
        in immediately available funds to the Holder at the address of the Holder
        first
        set forth above or at such other place as the Holder may designate from time
        to
        time in writing to the Maker or by wire transfer of funds to the Holder’s
        account, instructions for which are attached hereto as Exhibit
        A.
        The
        outstanding principal balance of this Note shall be due and payable on the
        “Maturity
        Date”
set
        forth above or at such earlier time as provided herein, unless converted
        prior
        to the Maturity Date, as described herein. 

       

      
        
          
          

        

        
          Page
            1

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        I  

       

      Section
        1.1  Purchase
        Agreement.
        This
        Note has been executed and delivered pursuant to the Note and Warrant Purchase
        Agreement dated as of November 29, 2005 (the “Purchase Agreement”) by and
        among the Maker
        and the
        purchasers listed therein. Capitalized terms used and not otherwise defined
        herein shall have the meanings set forth for such terms in the Purchase
        Agreement. 

       

      Section
        1.2  Interest.
        Beginning on the issuance date of this Note (the “Issuance Date”), the
        outstanding principal balance of this Note shall bear interest, in arrears,
        at a
        rate per annum equal to ten percent (10%), payable on December 1 of each
        year
        commencing December 1, 2006 at the option of the Maker in (A) cash, (B)
        additional senior convertible promissory notes in a form substantially identical
        to this Note, or (C) in registered shares of the Maker’s common stock, par value
        $0.001 per share (the “Common Stock”), in accordance with terms of
        Section 1.3 below. Interest shall be computed on the basis of a 360-day year
        of
        twelve (12) 30-day months and shall accrue commencing on the Issuance Date.
        Furthermore,
        upon the occurrence of an Event of Default (as defined in Section 2.1 hereof),
        then to the extent permitted by law, the Maker will pay interest to the Holder,
        payable on demand, on the outstanding principal balance of the Note from
        the
        date of the Event of Default until such Event of Default is cured at the
        rate of
        the lesser of fifteen percent (15%) and the maximum applicable legal rate
        per
        annum. 

       

      Section
        1.3  Payment
        of Principal and Interest. 

       

      (a)  Commencing
        on the fifth (5th)
        month
        following the Issuance Date and continuing thereafter on the first
        (1st)
        business day of each month (a “Principal Payment Date”), the Maker shall pay an
        amount to the Holder equal to 1/14th
        of the
        original principal amount of this Note plus any accrued but unpaid interest
        (the
“Principal
        Installment Amount”);
        provided,
        however,
        if on
        any Principal Payment Date, the outstanding principal amount of this Note
        plus
        any accrued but unpaid interest is less than the Principal Installment Amount,
        then the Maker shall pay to the Holder such lesser amount. The Maker may
        pay
        such Principal Installment Amount in cash or registered shares of Common
        Stock.
        If the Maker elects to pay the Principal Installment Amount in cash such
        amount
        shall be wired in immediately available funds on the Principal Payment Date;
        provided,
        however,
        that if
        the Holder has delivered a Conversion Notice to the Maker or delivers a
        Conversion Notice prior to the Principal Payment Date. The conversion amount
        shall be applied to the next principal and interest payment due under the
        terms
        of this Note..
        The
        Maker shall provide irrevocable written notice to the Holder of the form
        of
        payment of the Principal Installment Amount on the tenth (10th)
        business day prior to the first day of each month for which a Principal
        Installment Amount is required to be made by the Maker.

       

      (b)  If
        the
        Maker elects to pay the Principal Installment Amount in registered shares
        of
        Common Stock, the number of registered shares of Common Stock to be issued
        to
        the Holder shall be an amount equal to the Principal Installment Amount divided
        by eighty-five percent (85%) of the average of the Closing Bid Price (as
        defined
        in Section 1.3(c) hereof) for the ten (10) Trading Days immediately preceding
        the Principal Payment Date; provided,
        however,
        that if
        the Holder has delivered a Conversion Notice to the Maker or delivers a
        Conversion Notice prior to the Principal Date, the shares underlyin the
        Conversion will be applied to the next principal and interest payment due.,
        the
        Maker may elect to pay the Principal Installment Amount in registered shares
        of
        Common Stock on any Principal Payment Date only if (A) the registration
        statement providing for the resale of the shares of Common Stock issuable
        upon
        conversion of this Note (the “Registration
        Statement”)
        is
        effective and has been effective, without lapse or suspension of any kind,
        for a
        period of twenty (20) consecutive calendar days, (B) trading
        in the Common Stock shall not have been suspended by the Securities and Exchange
        Commission or the OTC Bulletin Board (or other exchange or market on which
        the
        Common Stock is trading), (C) the Maker is in material compliance with the
        terms
        and conditions of this Note and the other Transaction Documents, and (D)
        the
        issuance of shares of Common Stock on the Principal Payment Date does not
        violate the provisions of Section 3.4 hereof.
        

       

      
        
          
          

        

        
          Page
            2

          
            

          

        

        
          
          

        

      

       

      (c)  The
        term
“Closing
        Bid Price”
shall
        mean, on any particular date (i) the last trading price per share of the
        Common
        Stock on such date on the Pink Sheets, OTC
        Bulletin Board or
        another registered national stock exchange on which the Common Stock is then
        listed, or if there is no such price on such date, then the last trading
        price
        on such exchange or quotation system on the date nearest preceding such date,
        or
        (ii) if the Common Stock is not listed then on the Pink Sheets, OTC Bulletin
        Board or any registered national stock exchange, the last trading price for
        a
        share of Common Stock in the over-the-counter market, as reported by the
        Pink
        Sheets, OTC Bulletin Board or in the National Quotation Bureau Incorporated
        or
        similar organization or agency succeeding to its functions of reporting prices)
        at the close of business on such date, or (iii) if the Common Stock is not
        then
        reported by the Pink Sheets, OTC Bulletin Board or the National Quotation
        Bureau
        Incorporated (or similar organization or agency succeeding to its functions
        of
        reporting prices), then the average of the “Pink Sheet” quotes for the relevant
        conversion period, as determined in good faith by the Holder, or (iv) if
        the
        Common Stock is not then publicly traded the fair market value of a share
        of
        Common Stock as determined by the Holder and reasonably acceptable to the
        Maker.

       

      Section
        1.4  [Intentionally
        Omitted.]

       

      Section
        1.5  Payment
        on Non-Business Days. Whenever any payment to be made shall be due on a
        Saturday, Sunday or a public holiday under the laws of the State of New York,
        such payment may be due on the next succeeding business day and such next
        succeeding day shall be included in the calculation of the amount of accrued
        interest payable on such date.

       

      Section
        1.6  Transfer.
        This Note may not be transferred or sold, subject to the provisions of Section
        4.8 of this Note, or pledged, hypothecated or otherwise granted as security
        by
        the Holder.

       

      Section
        1.7  Replacement.
        Upon receipt of a duly executed, notarized and unsecured written statement
        from
        the Holder with respect to the loss, theft or destruction of this Note (or
        any
        replacement hereof) and a standard indemnity, or, in the case of a mutilation
        of
        this Note, upon surrender and cancellation of such Note, the Maker shall
        issue a
        new Note, of like tenor and amount, in lieu of such lost, stolen, destroyed
        or
        mutilated Note.

       

      
        
          
          

        

        
          Page
            3

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        II  

       

      EVENTS
        OF DEFAULT; REMEDIES

       

      Section
        2.1  Events
        of Default.
        The
        occurrence of any of the following events shall be an “Event of Default”
under this Note:

       

      (a)  the
        Maker
        shall fail to make the Principal Installment Amount on a Principal Payment
        Date
        and such default is not fully cured within three (3) business daysafter the
        occurrence thereof; or

       

      (b)  the
        failure of the Registration Statement to be declared effective by the Securities
        and Exchange Commission on or prior to the date which is one hundred eighty
        (180) days after the Issuance Date; or

       

      (c)  the
        suspension from listing, without subsequent listing on any one of, or the
        failure of the Common Stock to be listed on at least one of the Pink Sheets,
        OTC
        Bulletin Board, the American Stock Exchange, the Nasdaq National Market,
        the
        Nasdaq SmallCap Market or The New York Stock Exchange, Inc. for a period
        of five
        (5) consecutive Trading Days; or

       

      (d)  the
        Maker’s notice to the Holder, including by way of public announcement, at any
        time, of its inability to comply (including for any of the reasons described
        in
        Section 3.8(a) hereof) or its intention not to comply with proper requests
        for
        conversion of this Note into shares of Common Stock; or

       

      (e)  the
        Maker
        shall fail to (i) timely deliver the shares of Common Stock upon conversion
        of
        the Note or any interest accrued and unpaid, (ii) file the Registration
        Statement in accordance with the terms of the Registration Rights Agreement
        or
        (iii) make the payment of any fees and/or liquidated damages under this Note,
        the Purchase Agreement or the Registration Rights Agreement, which failure
        in
        the case of items (i) and (iii) of this Section 2.1(e) is not remedied within
        three (3) business days after the incurrence thereof; or

       

      (f)  while
        the
        Registration Statement is required to be maintained effective pursuant to
        the
        terms of the Registration Rights Agreement, the effectiveness of the
        Registration Statement lapses for any reason (including, without limitation,
        the
        issuance of a stop order) or is unavailable to the Holder for sale of the
        Registrable Securities (as defined in the Registration Rights Agreement)
        in
        accordance with the terms of the Registration Rights Agreement, and such
        lapse
        or unavailability continues for a period of ten (10) consecutive Trading
        Days,
provided
        that the
        Maker has not exercised its rights pursuant to Section 3(n) of the Registration
        Rights Agreement; or

       

      
        
          
          

        

        
          Page
            4

          
            

          

        

        
          
          

        

         

      

      (g)  default
        shall be made in the performance or observance of (i) any material covenant,
        condition or agreement contained in this Note (other than as set forth in
        clause
        (f) of this Section 2.1) and such default is not fully cured within three
        (3)
        business days after the Maker receives notice from the Holder of the occurrence
        thereof or (ii) any material covenant, condition or agreement contained in
        the
        Purchase Agreement, the Other Notes, the Registration Rights Agreement or
        any
        other Transaction Document which is not covered by any other provisions of
        this
        Section 2.1 and such default is not fully cured within three (3) business
        days
        after the Maker receives notice from the Holder of the occurrence thereof;
        or

       

      (h)  any
        material representation or warranty made by the Maker herein or in the Purchase
        Agreement, the Registration Rights Agreement, the Other Notes or any other
        Transaction Document shall prove to have been false or incorrect or breached
        in
        a material respect on the date as of which made; or

       

      (i)  the
        Maker
        shall (A) default in any payment of any amount or amounts of principal of
        or
        interest on any Indebtedness (other than the Indebtedness hereunder) the
        aggregate principal amount of which Indebtedness is in excess of
        $100,000 or
        (B)
        default in the observance or performance of any other agreement or condition
        relating to any Indebtedness or contained in any instrument or agreement
        evidencing, securing or relating thereto, or any other event shall occur
        or
        condition exist, the effect of which default or other event or condition
        is to
        cause, or to permit the holder or holders or beneficiary or beneficiaries
        of
        such Indebtedness to cause with the giving of notice if required, such
        Indebtedness to become due prior to its stated maturity; or 

       

      (j)  the
        Maker
        shall (i) apply for or consent to the appointment of, or the taking of
        possession by, a receiver, custodian, trustee or liquidator of itself or
        of all
        or a substantial part of its property or assets, (ii) make a general assignment
        for the benefit of its creditors, (iii) commence a voluntary case under the
        United States Bankruptcy Code (as now or hereafter in effect) or under the
        comparable laws of any jurisdiction (foreign or domestic), (iv) file a petition
        seeking to take advantage of any bankruptcy, insolvency, moratorium,
        reorganization or other similar law affecting the enforcement of creditors’
rights generally, (v) acquiesce in writing to any petition filed against
        it in
        an involuntary case under United States Bankruptcy Code (as now or hereafter
        in
        effect) or under the comparable laws of any jurisdiction (foreign or domestic),
        (vi) issue a notice of bankruptcy or winding down of its operations or issue
        a
        press release regarding same, or (vii) take any action under the laws of
        any
        jurisdiction (foreign or domestic) analogous to any of the foregoing; or
        

       

      (k)  a
        proceeding or case shall be commenced in respect of the Maker, without its
        application or consent, in any court of competent jurisdiction, seeking (i)
        the
        liquidation, reorganization, moratorium, dissolution, winding up, or composition
        or readjustment of its debts, (ii) the appointment of a trustee, receiver,
        custodian, liquidator or the like of it or of all or any substantial part
        of its
        assets in connection with the liquidation or dissolution of the Maker or
        (iii)
        similar relief in respect of it under any law providing for the relief of
        debtors, and such proceeding or case described in clause (i), (ii) or (iii)
        shall continue undismissed, or unstayed and in effect, for a period of thirty
        (30) days or any order for relief shall be entered in an involuntary case
        under
        United States Bankruptcy Code (as now or hereafter in effect) or under the
        comparable laws of any jurisdiction (foreign or domestic) against the Maker
        or
        action under the laws of any jurisdiction (foreign or domestic) analogous
        to any
        of the foregoing shall be taken with respect to the Maker and shall continue
        undismissed, or unstayed and in effect for a period of thirty (30) days;
        or

       

      
        
          
          

        

        
          Page
            5

          
            

          

        

        
          
          

        

         

      

      (l)  the
        failure of the Maker to instruct its transfer agent to remove any legends
        from
        shares of Common Stock eligible to be sold under Rule 144 of the Securities
        Act
        and issue such unlegended certificates to the Holder within three (3) business
        days of the Holder’s request so long as the Holder has provided reasonable
        assurances to the Maker that such shares of Common Stock can be sold pursuant
        to
        Rule 144, and the corresponding legal opinion required by the Maker’s transfer
        agent; or

       

      (m)  the
        failure of the Maker to pay any amounts due to the Holder herein or in the
        Purchase Agreement or the Registration Rights Agreement within three (3)
        business days of the date such payments are due; or

       

      (n)  the
        occurrence of an Event of Default under the Other Notes. 

       

      Section
        2.2  Remedies
        Upon An Event of Default.
        If an
        Event of Default shall have occurred and shall be continuing, the Holder
        of this
        Note may at any time at its option, (a) declare the entire unpaid principal
        balance of this Note, together with all interest accrued hereon, due and
        payable, and thereupon, the same shall be accelerated and so due and payable,
        without presentment, demand, protest, or notice, all of which are hereby
        expressly unconditionally and irrevocably waived by the Maker; provided,
        however, that upon the occurrence of an Event of Default described in (i)
        Sections 2.1 (j) or (k), the outstanding principal balance and accrued interest
        hereunder shall be automatically due and payable and (ii) Sections 2.1 (b)-(i),
        demand the prepayment of this Note pursuant to Section 3.7 hereof, (b) demand
        that the principal amount of this Note then outstanding and all accrued and
        unpaid interest thereon shall be converted into shares of Common Stock at
        a
        Conversion Price per share calculated pursuant to Section 3.1 hereof assuming
        that the date that the Event of Default occurs is the Conversion Date (as
        defined in Section 3.1 hereof), or (c) exercise or otherwise enforce any
        one or
        more of the Holder’s rights, powers, privileges, remedies and interests under
        this Note, the Purchase Agreement, the Registration Rights Agreement or
        applicable law. No course of delay on the part of the Holder shall operate
        as a
        waiver thereof or otherwise prejudice the right of the Holder. No remedy
        conferred hereby shall be exclusive of any other remedy referred to herein
        or
        now or hereafter available at law, in equity, by statute or
        otherwise.

       

      ARTICLE
        III  

       

      CONVERSION;
        ANTIDILUTION; PREPAYMENT

       

      Section
        3.1  Conversion
        Option.
        

       

      (a)  At
        any
        time on or after the Issuance Date, this Note shall be convertible (in whole
        or
        in part), at the option of the Holder (the “Conversion Option”), into such
        number of fully paid and non-assessable shares of Common Stock (the “Conversion
        Rate”) as is determined by dividing (x) that portion of the outstanding
        principal balance plus any accrued but unpaid interest under this Note as
        of
        such date that the Holder elects to convert by (y) the Conversion Price (as
        defined in Section 3.2(a) hereof) then in effect on the date on which the
        Holder
        faxes a notice of conversion (the “Conversion Notice”), duly executed, to the
        Maker at the Fax number provided in the Purchase Agreement, Attn.: Chief
        Executive Officer (the “Voluntary Conversion Date”), provided, however, that the
        Conversion Price shall be subject to adjustment as described in Section 3.6
        below. The Holder shall deliver this Note to the Maker at the address designated
        in the Purchase Agreement at such time that this Note is fully converted.
        With
        respect to partial conversions of this Note, the Maker shall keep written
        records of the amount of this Note converted as of each Conversion Date.
        

       

      
        
          
          

        

        
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      (b)  On
        the
        Mandatory Conversion Date (as defined below), the Maker may cause the principal
        amount of this Note plus all accrued and unpaid interest to convert into
        a
        number of fully paid and nonassessable shares of Common Stock equal to the
        quotient of (i) the principal amount of this Note plus all accrued and unpaid
        interest outstanding on the Mandatory Conversion Date divided by (ii) the
        Conversion Price in effect on the Mandatory Conversion Date by providing
        five
        business (5) days prior written notice of such Mandatory Conversion Date.
        As
        used herein, a “Mandatory
        Conversion Date”
shall
        be a date following the effective date of the Registration Statement in which
        the Closing Bid Price exceeds $2.50 for a period of ten (10) consecutive
        Trading
        Days and the average daily trading volume for such ten (10) consecutive Trading
        Day period exceeds 125,000 shares of Common Stock; provided,
        that
        (A) the
        Registration Statement is effective and has been effective, without lapse
        or
        suspension of any kind, for a period of twenty (20) consecutive calendar
        days
        immediately preceding the Mandatory Conversion Date, (B) trading
        in the Common Stock shall not have been suspended by the Securities and Exchange
        Commission or the Pink Sheets or OTC Bulletin Board (or other exchange or
        market
        on which the Common Stock is trading), (C) the Maker is in material compliance
        with the terms and conditions of this Note and the other Transaction Documents,
        (D) the issuance of shares of Common Stock on the Mandatory Conversion Date
        pursuant to such mandatory conversion does not violate the provisions of
        Section
        3.4 hereof, and (E) the Maker is not in possession of any material non-public
        information.
        Notwithstanding the foregoing to the contrary, the Mandatory Conversion Date
        shall be extended for as long as a Triggering Event (as defined in Section
        3.7(f) hereof) shall have occurred and be continuing. The Mandatory Conversion
        Date and the Voluntary Conversion Date collectively are referred to in this
        Note
        as the “Conversion
        Date.”

       

      Section
        3.2  Conversion
        Price.

       

      (a)  The
        term
“Conversion
        Price”
shall
        mean $0.75,
        subject
        to adjustment under Section 3.6 hereof. 

       

      (b)  Notwithstanding
        any of the foregoing to the contrary, if during any period (a “Black-out
        Period”),
        a
        Holder is unable to trade any Common Stock issued or issuable upon conversion
        of
        this Note immediately due to the postponement of filing or delay or suspension
        of effectiveness of the Registration Statement or because the Maker has
        otherwise informed such Holder that an existing prospectus cannot be used
        at
        that time in the sale or transfer of such Common Stock (provided that such
        postponement, delay, suspension or fact that the prospectus cannot be used
        is
        not due to factors solely within the control of the Holder of this Note or
        due
        to the Maker exercising its rights under Section 3(n) of the Registration
        Rights
        Agreement), such Holder shall have the option but not the obligation on any
        Conversion Date within ten (10) Trading Days following the expiration of
        the
        Black-out Period of using the Conversion Price applicable on such Conversion
        Date or any Conversion Price selected by such Holder that would have been
        applicable had such Conversion Date been at any earlier time during the
        Black-out Period or within the ten (10) Trading Days thereafter. In no event
        shall the Black-out Period have any effect on the Maturity Date of this Note.
        

       

      
        
          
          

        

        
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      Section
        3.3  Mechanics
        of Conversion. 

       

      (a)  Not
        later
        than three (3) Trading Days after any Conversion Date, the Maker or its
        designated transfer agent, as applicable, shall issue and deliver to the
        Depository Trust Company (“DTC”)
        account on the Holder’s behalf via the Deposit Withdrawal Agent Commission
        System (“DWAC”)
        as
        specified in the Conversion Notice, registered in the name of the Holder
        or its
        designee, for the number of shares of Common Stock to which the Holder shall
        be
        entitled. In the alternative, not later than three (3) Trading Days after
        any
        Conversion Date, the Maker shall deliver to the applicable Holder by express
        courier a certificate or certificates which shall be free of restrictive
        legends
        and trading restrictions (other than those required by Section 5.1 of the
        Purchase Agreement) representing the number of shares of Common Stock being
        acquired upon the conversion of this Note (the “Delivery
        Date”).
        Notwithstanding the foregoing to the contrary, the Maker or its transfer
        agent
        shall only be obligated to issue and deliver the shares to the DTC on the
        Holder’s behalf via DWAC (or certificates free of restrictive legends) if such
        conversion is in connection with a sale and the Holder has complied with
        the
        applicable prospectus delivery requirements (as evidenced by documentation
        furnished to and reasonably satisfactory to the Maker). If in the case of
        any
        Conversion Notice such certificate or certificates are not delivered to or
        as
        directed by the applicable Holder by the Delivery Date, the Holder shall
        be
        entitled by written notice to the Maker at any time on or before its receipt
        of
        such certificate or certificates thereafter, to rescind such conversion,
        in
        which event the Maker shall immediately return this Note tendered for
        conversion, whereupon the Maker and the Holder shall each be restored to
        their
        respective positions immediately prior to the delivery of such notice of
        revocation, except that any amounts described in Sections 3.3(b) and (c)
        shall
        be payable through the date notice of rescission is given to the Maker.

       

      (b)  The
        Maker
        understands that a delay in the delivery of the shares of Common Stock upon
        conversion of this Note beyond the Delivery Date could result in economic
        loss
        to the Holder. If the Maker fails to deliver to the Holder such shares via
        DWAC
        or a certificate or certificates pursuant to this Section hereunder by the
        Delivery Date, the Maker shall pay to such Holder, in cash, an amount per
        Trading Day for each Trading Day until such shares are delivered via DWAC
        or
        certificates are delivered, together with interest on such amount at a rate
        of
        10% per annum, accruing until such amount and any accrued interest thereon
        is
        paid in full, equal to the greater of (A) (i) 1% of the aggregate principal
        amount of the Notes requested to be converted for the first five (5) Trading
        Days after the Delivery Date and (ii) 2% of the aggregate principal amount
        of
        the Notes requested to be converted for each Trading Day thereafter and (B)
        $2,000 per day (which amount shall be paid as liquidated damages and not
        as a
        penalty). Nothing herein shall limit a Holder’s right to pursue actual damages
        for the Maker’s failure to deliver certificates representing shares of Common
        Stock upon conversion within the period specified herein and such Holder
        shall
        have the right to pursue all remedies available to it at law or in equity
        (including, without limitation, a decree of specific performance and/or
        injunctive relief). Notwithstanding anything to the contrary contained herein,
        the Holder shall be entitled to withdraw a Conversion Notice, and upon such
        withdrawal the Maker shall only be obligated to pay the liquidated damages
        accrued in accordance with this Section 3.3(b) through the date the Conversion
        Notice is withdrawn.

       

      
        
          
          

        

        
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      (c)  In
        addition to any other rights available to the Holder, if the Maker fails
        to
        cause its transfer agent to transmit to the Holder a certificate or certificates
        representing the shares of Common Stock issuable upon conversion of this
        Note on
        or before the Delivery Date, and if after such date the Holder is required
        by
        its broker to purchase (in an open market transaction or otherwise) shares
        of
        Common Stock to deliver in satisfaction of a sale by the Holder of the shares
        of
        Common Stock issuable upon conversion of this Note which the Holder anticipated
        receiving upon such exercise (a “Buy-In”),
        then
        the Maker shall (1) pay in cash to the Holder the amount by which (x) the
        Holder’s total purchase price (including brokerage commissions, if any) for the
        shares of Common Stock so purchased exceeds (y) the amount obtained by
        multiplying (A) the number of shares of Common Stock issuable upon conversion
        of
        this Note that the Maker was required to deliver to the Holder in connection
        with the conversion at issue times (B) the price at which the sell order
        giving
        rise to such purchase obligation was executed, and (2) at the option of the
        Holder, either reinstate the portion of the Note and equivalent number of
        shares
        of Common Stock for which such conversion was not honored or deliver to the
        Holder the number of shares of Common Stock that would have been issued had
        the
        Maker timely complied with its conversion and delivery obligations hereunder.
        For example, if the Holder purchases Common Stock having a total purchase
        price
        of $11,000 to cover a Buy-In with respect to an attempted conversion of shares
        of Common Stock with an aggregate sale price giving rise to such purchase
        obligation of $10,000, under clause (1) of the immediately preceding sentence
        the Maker shall be required to pay the Holder $1,000. The Holder shall provide
        the Maker written notice indicating the amounts payable to the Holder in
        respect
        of the Buy-In, together with applicable confirmations and other evidence
        reasonably requested by the Maker. Nothing herein shall limit a Holder’s right
        to pursue any other remedies available to it hereunder, at law or in equity
        including, without limitation, a decree of specific performance and/or
        injunctive relief with respect to the Maker’s failure to timely deliver
        certificates representing shares of Common Stock upon conversion of this
        Note as
        required pursuant to the terms hereof.

       

      Section
        3.4  Ownership
        Cap and Certain Conversion Restrictions.
        

       

      (a)  Notwithstanding
        anything to the contrary set forth in Section 3 of this Note, at no time
        may the
        Holder convert all or a portion of this Note if the number of shares of Common
        Stock to be issued pursuant to such conversion would exceed, when aggregated
        with all other shares of Common Stock owned by the Holder at such time, the
        number of shares of Common Stock which would result in the Holder beneficially
        owning (as determined in accordance with Section 13(d) of the Exchange Act
        and
        the rules thereunder) more than 4.9% of all of the Common Stock outstanding
        at
        such time; provided,
        however,
        that
        upon the Holder providing the Maker with sixty-one (61) days notice (pursuant
        to
        Section 4.1 hereof) (the “Waiver
        Notice”)
        that
        the Holder would like to waive this Section 3.4(a) with regard to any or
        all
        shares of Common Stock issuable upon conversion of this Note, this Section
        3.4(a) will be of no force or effect with regard to all or a portion of the
        Note
        referenced in the Waiver Notice. 

       

      
        
          
          

        

        
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      (b)  Notwithstanding
        anything to the contrary set forth in Section 3 of this Note, at no time
        may the
        Holder convert all or a portion of this Note if the number of shares of Common
        Stock to be issued pursuant to such conversion, when aggregated with all
        other
        shares of Common Stock owned by the Holder at such time, would result in
        the
        Holder beneficially owning (as determined in accordance with Section 13(d)
        of
        the Exchange Act and the rules thereunder) in excess of 9.9% of the then
        issued
        and outstanding shares of Common Stock outstanding at such time; provided,
        however,
        that
        upon the Holder providing the Maker with a Waiver Notice that the Holder
        would
        like to waive Section 3.4(b) of this Note with regard to any or all shares
        of
        Common Stock issuable upon conversion of this Note, this Section 3.4(b) shall
        be
        of no force or effect with regard to all or a portion of the Note referenced
        in
        the Waiver Notice.

       

      Section
        3.5  Intentionally
        Omitted.

       

      Section
        3.6  Adjustment
        of Conversion Price.

       

      (a)  The
        Conversion Price shall be subject to adjustment from time to time as
        follows:

       

      (i)  Adjustments
        for Stock Splits and Combinations.
        If the
        Maker shall at any time or from time to time after the Issuance Date, effect
        a
        stock split of the outstanding Common Stock, the applicable Conversion Price
        in
        effect immediately prior to the stock split shall be proportionately decreased.
        If the Maker shall at any time or from time to time after the Issuance Date,
        combine the outstanding shares of Common Stock, the applicable Conversion
        Price
        in effect immediately prior to the combination shall be proportionately
        increased. Any adjustments under this Section 3.6(a)(i) shall be effective
        at
        the close of business on the date the stock split or combination
        occurs.

       

      (ii) Adjustments
        for Certain Dividends and Distributions.
        If the
        Maker shall at any time or from time to time after the Issuance Date, make
        or
        issue or set a record date for the determination of holders of Common Stock
        entitled to receive a dividend or other distribution payable in shares of
        Common
        Stock, then, and in each event, the applicable Conversion Price in effect
        immediately prior to such event shall be decreased as of the time of such
        issuance or, in the event such record date shall have been fixed, as of the
        close of business on such record date, by multiplying, the applicable Conversion
        Price then in effect by a fraction:

       

      (1) the
        numerator of which shall be the total number of shares of Common Stock issued
        and outstanding immediately prior to the time of such issuance or the close
        of
        business on such record date; and

       

      (2) the
        denominator of which shall be the total number of shares of Common Stock
        issued
        and outstanding immediately prior to the time of such issuance or the close
        of
        business on such record date plus the number of shares of Common Stock issuable
        in payment of such dividend or distribution.

       

      
        
          
          

        

        
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      (iii) Adjustment
        for Other Dividends and Distributions.
        If the
        Maker shall at any time or from time to time after the Issuance Date, make
        or
        issue or set a record date for the determination of holders of Common Stock
        entitled to receive a dividend or other distribution payable in other than
        shares of Common Stock, then, and in each event, an appropriate revision
        to the
        applicable Conversion Price shall be made and provision shall be made (by
        adjustments of the Conversion Price or otherwise) so that the holders of
        this
        Note shall receive upon conversions thereof, in addition to the number of
        shares
        of Common Stock receivable thereon, the number of securities of the Maker
        which
        they would have received had this Note been converted into Common Stock on
        the
        date of such event and had thereafter, during the period from the date of
        such
        event to and including the Conversion Date, retained such securities (together
        with any distributions payable thereon during such period), giving application
        to all adjustments called for during such period under this Section 3.6(a)(iii)
        with respect to the rights of the holders of this Note and the Other Notes;
        provided,
        however,
        that if
        such record date shall have been fixed and such dividend is not fully paid
        or if
        such distribution is not fully made on the date fixed therefor, the Conversion
        Price shall be adjusted pursuant to this paragraph as of the time of actual
        payment of such dividends or distributions.

       

      (iv) Adjustments
        for Reclassification, Exchange or Substitution.
        If the
        Common Stock issuable upon conversion of this Note at any time or from time
        to
        time after the Issuance Date shall be changed to the same or different number
        of
        shares of any class or classes of stock, whether by reclassification, exchange,
        substitution or otherwise (other than by way of a stock split or combination
        of
        shares or stock dividends provided for in Sections 3.6(a)(i), (ii) and (iii),
        or
        a reorganization, merger, consolidation, or sale of assets provided for in
        Section 3.6(a)(v)), then, and in each event, an appropriate revision to the
        Conversion Price shall be made and provisions shall be made (by adjustments
        of
        the Conversion Price or otherwise) so that the Holder shall have the right
        thereafter to convert this Note into the kind and amount of shares of stock
        and
        other securities receivable upon reclassification, exchange, substitution
        or
        other change, by holders of the number of shares of Common Stock into which
        such
        Note might have been converted immediately prior to such reclassification,
        exchange, substitution or other change, all subject to further adjustment
        as
        provided herein.

       

      (v) Adjustments
        for Reorganization, Merger, Consolidation or Sales of Assets.
        If at
        any time or from time to time after the Issuance Date there shall be a capital
        reorganization of the Maker (other than by way of a stock split or combination
        of shares or stock dividends or distributions provided for in Section 3.6(a)(i),
        (ii) and (iii), or a reclassification, exchange or substitution of shares
        provided for in Section 3.6(a)(iv)), or a merger or consolidation of the
        Maker
        with or into another corporation where the holders of outstanding voting
        securities prior to such merger or consolidation do not own over fifty percent
        (50%) of the outstanding voting securities of the merged or consolidated
        entity,
        immediately after such merger or consolidation, or the sale of all or
        substantially all of the Maker’s properties or assets to any other person (an
“Organic
        Change”),
        then
        as a part of such Organic Change, (A) if the surviving entity in any such
        Organic Change is a public company that is
        registered pursuant to the Securities Exchange Act of 1934, as amended, and
        its
        common stock is listed or quoted on a national exchange or the Pink Sheets
        or
        OTC Bulletin Board, an
        appropriate revision to the Conversion Price shall be made and provision
        shall
        be made (by adjustments of the Conversion Price or otherwise) so that the
        Holder
        shall have the right thereafter to convert such Note into the kind and amount
        of
        shares of stock and other securities or property of the Maker or any successor
        corporation resulting from Organic Change, and (B) if the surviving entity
        in
        any such Organic Change is not a public company that is
        registered pursuant to the Securities Exchange Act of 1934, as amended, or
        its
        common stock is not listed or quoted on a national exchange or the OTC Bulletin
        Board,
        the
        Holder shall have the right to demand prepayment pursuant to Section 3.7(b)
        hereof. In any such case, appropriate adjustment shall be made in the
        application of the provisions of this Section 3.6(a)(v) with respect to the
        rights of the Holder after the Organic Change to the end that the provisions
        of
        this Section 3.6(a)(v) (including any adjustment in the applicable Conversion
        Price then in effect and the number of shares of stock or other securities
        deliverable upon conversion of this Note and the Other Notes) shall be applied
        after that event in as nearly an equivalent manner as may be
        practicable.

       

      
        
          
          

        

        
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      (vi) Adjustments
        for Issuance of Additional Shares of Common Stock.
        In the
        event the Maker, shall, at any time, from time to time, issue or sell any
        additional shares of common stock (otherwise than as provided in the foregoing
        subsections (i) through (v) of this Section 3.6(a) or pursuant to Common
        Stock
        Equivalents (hereafter defined) granted or issued prior to the Issuance Date)
        (“Additional
        Shares of Common Stock”),
        at a
        price per share less than the Conversion Price then in effect or without
        consideration, then the Conversion Price upon each such issuance shall be
        reduced to a price equal to the consideration per share paid for such Additional
        Shares of Common Stock. Notwithstanding the foregoing, this provision shall
        not
        apply to any stock grants or stock options granted to management under a
        written
        plan for such stock grants or options. Such stock grants or stock option
        plan
        shall not at any time result in stock grants or stock options in excess of
        five
        percent (5%) of the outstanding stock of Maker at the time such plan shall
        be
        put into effect by vote of the Maker’s board of directors. 

       

      (vii) Issuance
        of Common Stock Equivalents.
        The
        provisions of this Section 3.6(a)(vii) shall apply if (a) the Maker, at any
        time
        after the Issuance Date, shall issue any securities convertible into or
        exchangeable for, directly or indirectly, Common Stock (“Convertible
        Securities”),
        other
        than the Notes, or (b) any rights or warrants or options to purchase any
        such
        Common Stock or Convertible Securities (collectively, the “Common
        Stock Equivalents”)
        shall
        be issued or sold. If the price per share for which Additional Shares of
        Common
        Stock may be issuable pursuant to any such Common Stock Equivalent shall
        be less
        than the applicable Conversion Price then in effect, or if, after any such
        issuance of Common Stock Equivalents, the price per share for which Additional
        Shares of Common Stock may be issuable thereafter is amended or adjusted,
        and
        such price as so amended shall be less than the applicable Conversion Price
        in
        effect at the time of such amendment or adjustment, then the applicable
        Conversion Price upon each such issuance or amendment shall be adjusted as
        provided in the first sentence of subsection (vi) of this Section 3.6(a).
        No
        adjustment shall be made to the Conversion Price upon the issuance of Common
        Stock pursuant to the exercise, conversion or exchange of any Convertible
        Security or Common Stock Equivalent where an adjustment to the Conversion
        Price
        was made as a result of the issuance or purchase of any Convertible Security
        or
        Common Stock Equivalent. Notwithstanding the foregoing, this provision shall
        not
        apply to any stock grants or stock options granted to management under a
        written
        plan for such stock grants or options. Such stock grants or stock option
        plan
        shall not at any time result in stock grants or stock options in excess of
        five
        percent (5%) of the outstanding stock of Maker at the time such plan shall
        be
        put into effect by vote of the Maker’s board of directors. 

       

      
        
          
          

        

        
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      (viii) Consideration
        for Stock.
        In case
        any shares of Common Stock or any Common Stock Equivalents shall be issued
        or
        sold:

       

      (1) in
        connection with any merger or consolidation in which the Maker is the surviving
        corporation (other than any consolidation or merger in which the previously
        outstanding shares of Common Stock of the Maker shall be changed to or exchanged
        for the stock or other securities of another corporation), the amount of
        consideration therefor shall be, deemed to be the fair value, as determined
        reasonably and in good faith by the Board of Directors of the Maker, of such
        portion of the assets and business of the nonsurviving corporation as such
        Board
        may determine to be attributable to such shares of Common Stock, Convertible
        Securities, rights or warrants or options, as the case may be; or

       

      (2) in
        the
        event of any consolidation or merger of the Maker in which the Maker is not
        the
        surviving corporation or in which the previously outstanding shares of Common
        Stock of the Maker shall be changed into or exchanged for the stock or other
        securities of another corporation, or in the event of any sale of all or
        substantially all of the assets of the Maker for stock or other securities
        of
        any corporation, the Maker shall be deemed to have issued a number of shares
        of
        its Common Stock for stock or securities or other property of the other
        corporation computed on the basis of the actual exchange ratio on which the
        transaction was predicated, and for a consideration equal to the fair market
        value on the date of such transaction of all such stock or securities or
        other
        property of the other corporation. If any such calculation results in adjustment
        of the applicable Conversion Price, or the number of shares of Common Stock
        issuable upon conversion of the Notes, the determination of the applicable
        Conversion Price or the number of shares of Common Stock issuable upon
        conversion of the Notes immediately prior to such merger, consolidation or
        sale,
        shall be made after giving effect to such adjustment of the number of shares
        of
        Common Stock issuable upon conversion of the Notes. In the event Common Stock
        is
        issued with other shares or securities or other assets of the Maker for
        consideration which covers both, the consideration computed as provided in
        this
        Section 3.6(viii) shall be allocated among such securities and assets as
        determined in good faith by the Board of Directors of the Maker.

       

      (b)  Record
        Date.
        In case
        the Maker shall take record of the holders of its Common Stock for the purpose
        of entitling them to subscribe for or purchase Common Stock or Convertible
        Securities, then the date of the issue or sale of the shares of Common Stock
        shall be deemed to be such record date.

       

      (c)  Certain
        Issues Excepted.
        Anything herein to the contrary notwithstanding, the Maker shall not be required
        to make any adjustment to the Conversion Price in connection with (i) securities
        issued (other than for cash) in connection with a merger, acquisition, or
        consolidation, (ii) securities issued pursuant to a bona fide firm underwritten
        public offering of the Maker’s securities, (iii) securities issued pursuant to
        the conversion or exercise of convertible or excercisable securities issued
        or
        outstanding on or prior to the date hereof or issued pursuant to the Purchase
        Agreement, (iv) the shares of Common Stock issuable upon the exercise of
        Warrants, (v) securities issued in connection with strategic license agreements
        or other partnering arrangements so long as such issuances are not for the
        purpose of raising capital, (vi) Common Stock issued or options to purchase
        Common Stock granted or issued pursuant to the Maker’s employee stock purchase
        plans as they now exist and stock incentive plans as they now exist, (vii)
        any
        warrants issued to the placement agent and its designees for the transactions
        contemplated by the Purchase Agreement, and (viii) the payment of any principal
        and accrued interest in shares of Common Stock pursuant to this Note or the
        Other Notes.

      

      
        
          
          

        

        
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      (d) No
        Impairment.
        The
Maker
        shall
        not, by amendment of its Articles of Incorporation 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
        hereunder by the Maker,
        but
        will at all times in good faith, assist in the carrying out of all the
        provisions of this Section 3.6 and in the taking of all such action as may
        be
        necessary or appropriate in order to protect the Conversion Rights of the
        Holder
        against impairment. In the event a Holder shall elect to convert any Notes
        as
        provided herein, the Maker cannot refuse conversion based on any claim that
        such
        Holder or any one associated or affiliated with such Holder has been engaged
        in
        any violation of law, violation of an agreement to which such Holder is a
        party
        or for any reason whatsoever, unless, an injunction from a court, or notice,
        restraining and or adjoining conversion of all or of said Notes shall have
        issued and the Maker posts a surety bond for the benefit of such Holder in
        an
        amount equal to one hundred thirty percent (130%) of the amount of the Notes
        the
        Holder has elected to convert, which bond shall remain in effect until the
        completion of arbitration/litigation of the dispute and the proceeds of which
        shall be payable to such Holder (as liquidated damages) in the event it obtains
        judgment.

      

      (e) Certificates
        as to Adjustments.
        Upon
        occurrence of each adjustment or readjustment of the Conversion Price or
        number
        of shares of Common Stock issuable upon conversion of this Note pursuant
        to this
        Section 3.6, the Maker
        at its
        expense shall promptly compute such adjustment or readjustment in accordance
        with the terms hereof and furnish to the Holder a certificate setting forth
        such
        adjustment and readjustment, showing in detail the facts upon which such
        adjustment or readjustment is based. The Maker
        shall,
        upon written request of the Holder, at any time, furnish or cause to be
        furnished to the Holder a like certificate setting forth such adjustments
        and
        readjustments, the applicable Conversion Price in effect at the time, and
        the
        number of shares of Common Stock and the amount, if any, of other securities
        or
        property which at the time would be received upon the conversion of this
        Note.
        Notwithstanding the foregoing, the Maker shall not be obligated to deliver
        a
        certificate unless such certificate would reflect an increase or decrease
        of at
        least one percent (1%) of such adjusted amount.

       

      (f) Issue
        Taxes.
        The
        Maker shall pay any and all issue and other taxes, excluding federal, state
        or
        local income taxes, that may be payable in respect of any issue or delivery
        of
        shares of Common Stock on conversion of this Note pursuant thereto; provided,
        however,
        that
        the Maker shall not be obligated to pay any transfer taxes resulting from
        any
        transfer requested by the Holder in connection with any such
        conversion.

       

      (g) Fractional
        Shares.
        No
        fractional shares of Common Stock shall be issued upon conversion of this
        Note.
        In lieu of any fractional shares to which the Holder would otherwise be
        entitled, the Maker shall pay cash equal to the product of such fraction
        multiplied by the average of the Closing Bid Prices of the Common Stock for
        the
        five (5) consecutive Trading Days immediately preceding the Conversion Date.
        

       

      
        
          
          

        

        
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      (h) Reservation
        of Common Stock.
        The
        Maker shall at all times when this Note shall be outstanding, reserve and
        keep
        available out of its authorized but unissued Common Stock, such number of
        shares
        of Common Stock as shall from time to time be sufficient to effect the
        conversion of this Note and all interest accrued thereon; provided
        that the
        number of shares of Common Stock so reserved shall at no time be less than
        one
        hundred twenty percent (120%) of the number of shares of Common Stock for
        which
        this Note and all interest accrued thereon are at any time convertible. The
        Maker shall, from time to time in accordance with the Nevada Revised Business
        Corporation Act, increase the authorized number of shares of Common Stock
        if at
        any time the unissued number of authorized shares shall not be sufficient
        to
        satisfy the Maker’s obligations under this Section 3.6(h).

       

      (i) Regulatory
        Compliance.
        If any
        shares of Common Stock to be reserved for the purpose of conversion of this
        Note
        or any interest accrued thereon require registration or listing with or approval
        of any governmental authority, stock exchange or other regulatory body under
        any
        federal or state law or regulation or otherwise before such shares may be
        validly issued or delivered upon conversion, the Maker shall, at its sole
        cost
        and expense, in good faith and as expeditiously as possible, endeavor to
        secure
        such registration, listing or approval, as the case may be.

       

      Section
        3.7 Prepayment.

       

      (a) Prepayment
        Upon an Event of Default.
        Notwithstanding anything to the contrary contained herein, upon the occurrence
        of an Event of Default described in Sections 2.1(b)-(k) hereof, the Holder
        shall
        have the right, at such Holder’s option, to require the Maker to prepay in cash
        all or a portion of this Note at a price equal to one hundred ten percent
        (110%)
        of the aggregate principal amount of this Note plus all accrued and unpaid
        interest applicable at the time of such request. Nothing in this Section
        3.7(a)
        shall limit the Holder’s rights under Section 2.2 hereof.

       

      (b) Prepayment
        Option Upon Major Transaction. In addition to all other rights of the Holder
        contained herein, simultaneous with the occurrence of a Major Transaction
        (as
        defined below), the Holder shall have the right, at the Holder’s option, to
        require the Maker to prepay all or a portion of the Holder’s Notes at a price
        equal to one hundred percent (100%) of the aggregate principal amount of
        this
        Note plus all accrued and unpaid interest (the “Major Transaction Prepayment
        Price”); provided that the Maker shall have the sole option to make payment
        of the Major Transaction Prepayment Price in cash or shares of Common Stock.
        If
        the Maker elects to make payment of the Major Transaction Prepayment Price
        in
        shares of Common Stock, the price per share shall be based upon the Conversion
        Price then in effect on the day preceding the date of delivery of the Notice
        of
        Prepayment at Option of Holder Upon Major Transaction (as hereafter defined)
        and
        the Holder shall have demand registration rights with respect to such
        shares.

       

      
        
          
          

        

        
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      (c) Prepayment
        Option Upon Triggering Event.
        In
        addition to all other rights of the Holder contained herein, after a Triggering
        Event (as defined below), the Holder shall have the right, at the Holder’s
        option, to require the Maker to prepay all or a portion of this Note in cash
        at
        a price equal to the sum of (i) the greater of (A) one hundred twenty percent
        (120%) of the aggregate principal amount of this Note plus all accrued and
        unpaid interest and (B) in the event at such time the Holder is unable to
        obtain
        the benefit of its conversion rights through the conversion of this Note
        and
        resale of the shares of Common Stock issuable upon conversion hereof in
        accordance with the terms of this Note and the other Transaction Documents,
        the
        aggregate principal amount of this Note plus all accrued but unpaid interest
        hereon, divided by the Conversion Price on (x) the date the Prepayment Price
        (as
        defined below) is demanded or otherwise due or (y) the date the Prepayment
        Price
        is paid in full, whichever is less, multiplied by the VWAP (as defined below)
        on
        (x) the date the Prepayment Price is demanded or otherwise due, and (y) the
        date
        the Prepayment Price is paid in full, whichever is greater, and (ii) all
        other
        amounts, costs, expenses and liquidated damages due in respect of this Note
        and
        the other Transaction Documents (the “Triggering
        Event Prepayment Price,”
and,
        collectively with the Major Transaction Prepayment Price, the “Prepayment
        Price”).
        For
        purposes hereof, “VWAP”
means,
        for any date, (i) the daily volume weighted average price of the Common Stock
        for such date on the OTC Bulletin Board as reported by Bloomberg Financial
        L.P.
        (based on a Trading Day from 9:30 a.m. Eastern Time to 4:02 p.m. Eastern
        Time);
        (ii) if the Common Stock is not then listed or quoted on the OTC Bulletin
        Board and if prices for the Common Stock are then reported in the “Pink Sheets”
published by the Pink Sheets, LLC (or a similar organization or agency
        succeeding to its functions of reporting prices), the most recent bid price
        per
        share of the Common Stock so reported; or (iii) in all other cases, the
        fair market value of a share of Common Stock as determined by an independent
        appraiser selected in good faith by the Holder and reasonably acceptable
        to the
        Maker.

       

      (d) Intentionally
        Omitted.

       

      (e) “Major
        Transaction.” A “Major Transaction” shall be deemed to have occurred
        at such time as any of the following events:

       

      (i) the
        consolidation, merger or other business combination of the Maker with or
        into
        another Person (as defined in Section 4.13 hereof) (other than (A) pursuant
        to a
        migratory merger effected solely for the purpose of changing the jurisdiction
        of
        incorporation of the Maker or (B) a consolidation, merger or other business
        combination in which holders of the Maker’s voting power immediately prior to
        the transaction continue after the transaction to hold, directly or indirectly,
        the voting power of the surviving entity or entities necessary to elect a
        majority of the members of the board of directors (or their equivalent if
        other
        than a corporation) of such entity or entities).

       

      (ii) the
        sale
        or transfer of more than fifty percent (50%) of the Maker’s assets (based on the
        fair market value as determined in good faith by the Maker’s Board of Directors)
        other than inventory in the ordinary course of business in one or a related
        series of transactions; or

       

      
        
          
          

        

        
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      (iii) closing
        of a purchase, tender or exchange offer made to the holders of more than
        fifty
        percent (50%) of the outstanding shares of Common Stock in which more than
        fifty
        percent (50%) of the outstanding shares of Common Stock were tendered and
        accepted.

       

      (f)  “Triggering
        Event.” A “Triggering Event” shall be deemed to have occurred at such
        time as any of the following events:

       

      (i) so
        long
        as any Notes are outstanding, the effectiveness of the Registration Statement,
        after it becomes effective, (i) lapses for any reason (including, without
        limitation, the issuance of a stop order) or (ii) is unavailable to the Holder
        for sale of the shares of Common Stock, and such lapse or unavailability
        continues for a period of twenty (20) consecutive Trading Days, and the shares
        of Common Stock into which the Holder’s Notes can be converted cannot be sold in
        the public securities market pursuant to Rule 144(k), provided that the cause
        of
        such lapse or unavailability is not due to factors primarily within the control
        of the Holder of the Notes; and provided further that a Triggering Event
        shall
        not have occurred if and to the extent the Maker exercised its rights set
        forth
        in Section 3(n) of the Registration Rights Agreement; 

       

      (ii)  the
        suspension from listing, without subsequent listing on any one of, or the
        failure of the Common Stock to be listed on at least one of the Pink Sheets,
        OTC
        Bulletin Board, the American Stock Exchange, the Nasdaq National Market,
        the
        Nasdaq SmallCap Market or The New York Stock Exchange, Inc., for a period
        of
        five (5) consecutive Trading Days;

       

      (iii)  the
        Maker’s notice to any holder of the Notes, including by way of public
        announcement, at any time, of its inability to comply (including for any
        of the
        reasons described in Section 3.8) or its intention not to comply with proper
        requests for conversion of any Notes into shares of Common Stock;
        or

       

      (iv)  the
        Maker’s failure to comply with a Conversion Notice tendered in accordance with
        the provisions of this Note within ten (10) business days after the receipt
        by
        the Maker of the Conversion Notice; or

       

      (v)  the
        Maker
        deregisters its shares of Common Stock and as a result such shares of Common
        Stock are no longer publicly traded; or

       

      (vi)  the
        Maker
        consummates a “going private” transaction and as a result the Common Stock is no
        longer registered under Sections 12(b) or 12(g) of the Exchange
        Act.

       

      (g) Intentionally
        Omitted.

      

      (h) Mechanics
        of Prepayment at Option of Holder Upon Major Transaction. No sooner than
        fifteen (15) days nor later than ten (10) days prior to the consummation
        of a
        Major Transaction, but not prior to the public announcement of such Major
        Transaction, the Maker shall deliver written notice thereof via facsimile
        and
        overnight courier (“Notice of Major Transaction”) to the Holder of this
        Note. At any time after receipt of a Notice of Major Transaction (or, in
        the
        event a Notice of Major Transaction is not delivered at least ten (10) days
        prior to a Major Transaction, at any time within ten (10) days prior to a
        Major
        Transaction), any holder of the Notes then outstanding may require the Maker
        to
        prepay, effective immediately prior to the consummation of such Major
        Transaction, all of the holder’s Notes then outstanding by delivering written
        notice thereof via facsimile and overnight courier (“Notice of Prepayment at
        Option of Holder Upon Major Transaction”) to the Maker, which Notice of
        Prepayment at Option of Holder Upon Major Transaction shall indicate (i)
        the
        principal amount of the Notes that such holder is electing to have prepaid
        and
        (ii) the applicable Major Transaction Prepayment Price, as calculated pursuant
        to Section 3.7(b) above.

       

      
        
          
          

        

        
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      (i) Mechanics
        of Prepayment at Option of Holder Upon Triggering Event. Within one (1)
        business day after the occurrence of a Triggering Event, the Maker shall
        deliver
        written notice thereof via facsimile and overnight courier (“Notice of
        Triggering Event”) to each holder of the Notes. At any time after the
        earlier of a holder’s receipt of a Notice of Triggering Event and such holder
        becoming aware of a Triggering Event, any holder of this Note and the Other
        Notes then outstanding may require the Maker to prepay all of the Notes on
        a pro
        rata basis by delivering written notice thereof via facsimile and overnight
        courier (“Notice of Prepayment at Option of Holder Upon Triggering
        Event”) to the Maker, which Notice of Prepayment at Option of Holder Upon
        Triggering Event shall indicate (i) the amount of the Note that such holder
        is
        electing to have prepaid and (ii) the applicable Triggering Event Prepayment
        Price, as calculated pursuant to Section 3.7(c) above. A holder shall only
        be
        permitted to require the Maker to prepay the Note pursuant to Section 3.7
        hereof
        for the greater of a period of ten (10) days after receipt by such holder
        of a
        Notice of Triggering Event or for so long as such Triggering Event is
        continuing.

       

      (j) Payment
        of Prepayment Price.
        Upon
        the Maker’s receipt of a Notice(s) of Prepayment at Option of Holder Upon
        Triggering Event or a Notice(s) of Prepayment at Option of Holder Upon Major
        Transaction from any holder of the Notes, the Maker shall immediately notify
        each holder of the Notes by facsimile of the Maker’s receipt of such Notice(s)
        of Prepayment at Option of Holder Upon Triggering Event or Notice(s) of
        Prepayment at Option of Holder Upon Major Transaction and each holder which
        has
        sent such a notice shall promptly submit to the Maker such holder’s certificates
        representing the Notes which such holder has elected to have prepaid. The
        Maker
        shall deliver the applicable Triggering Event Prepayment Price, in the case
        of a
        prepayment pursuant to Section 3.7(i), to such holder within five (5) business
        days after the Maker’s receipt of a Notice of Prepayment at Option of Holder
        Upon Triggering Event and, in the case of a prepayment pursuant to Section
        3.7(h), the Maker shall deliver the applicable Major Transaction Prepayment
        Price immediately prior to the consummation of the Major Transaction; provided
        that a holder’s original Note shall have been so delivered to the Maker;
        provided further that if the Maker is unable to prepay all of the Notes to
        be
        prepaid, the Maker shall prepay an amount from each holder of the Notes being
        prepaid equal to such holder’s pro-rata amount (based on the number of Notes
        held by such holder relative to the number of Notes outstanding) of all Notes
        being prepaid. If the Maker shall fail to prepay all of the Notes submitted
        for
        prepayment (other than pursuant to a dispute as to the arithmetic calculation
        of
        the Prepayment Price), in addition to any remedy such holder of the Notes
        may
        have under this Note and the Purchase Agreement, the applicable Prepayment
        Price
        payable in respect of such Notes not prepaid shall bear interest at the rate
        of
        two percent (2%) per month (prorated for partial months) until paid in full.
        Until the Maker pays such unpaid applicable Prepayment Price in full to a
        holder
        of the Notes submitted for prepayment, such holder shall have the option
        (the
“Void Optional Prepayment Option”) to, in lieu of prepayment, require the Maker
        to promptly return to such holder(s) all of the Notes that were submitted
        for
        prepayment by such holder(s) under this Section 3.7 and for which the applicable
        Prepayment Price has not been paid, by sending written notice thereof to
        the
        Maker via facsimile (the “Void Optional Prepayment Notice”). Upon the Maker’s
        receipt of such Void Optional Prepayment Notice(s) and prior to payment of
        the
        full applicable Prepayment Price to such holder, (i) the Notice(s) of Prepayment
        at Option of Holder Upon Triggering Event or the Notice(s) of Prepayment
        at
        Option of Holder Upon Major Transaction, as the case may be, shall be null
        and
        void with respect to those Notes submitted for prepayment and for which the
        applicable Prepayment Price has not been paid, (ii) the Maker shall immediately
        return any Notes submitted to the Maker by each holder for prepayment under
        this
        Section 3.7(j) and for which the applicable Prepayment Price has not been
        paid
        and (iii) the Conversion Price of such returned Notes shall be adjusted to
        the
        lesser of (A) the Conversion Price as in effect on the date on which the
        Void
        Optional Prepayment Notice(s) is delivered to the Maker and (B) the lowest
        Closing Bid Price during the period beginning on the date on which the Notice(s)
        of Prepayment of Option of Holder Upon Major Transaction or the Notice(s)
        of
        Prepayment at Option of Holder Upon Triggering Event, as the case may be,
        is
        delivered to the Maker and ending on the date on which the Void Optional
        Prepayment Notice(s) is delivered to the Maker; provided that no adjustment
        shall be made if such adjustment would result in an increase of the Conversion
        Price then in effect. A holder’s delivery of a Void Optional Prepayment Notice
        and exercise of its rights following such notice shall not effect the Maker’s
        obligations to make any payments which have accrued prior to the date of
        such
        notice. Payments provided for in this Section 3.7 shall have priority to
        payments to other stockholders in connection with a Major Transaction.

       

      
        
          
          

        

        
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      (k) Maker
        Prepayment Option.
        So long
        as less than ten percent (10%) of the original principal amount of this Note
        is
        outstanding, the Maker may prepay in cash all or any portion of the outstanding
        principal amount of this Note together with all accrued and unpaid interest
        thereon upon thirty (30) days prior written notice to the Holder (the
“Maker’s
        Prepayment Notice”)
        at a
        price equal to one hundred and ten (110%)
        of the
        aggregate principal amount of this Note plus any accrued but unpaid
        interest
        (the
“Maker’s
        Prepayment Price”);
        provided,
        however,
        that if
        a holder has delivered a Conversion Notice to the Maker or delivers a Conversion
        Notice within such thirty (30) day period following delivery of the Maker’s
        Prepayment Notice, the principal amount of the Notes plus any accrued but
        unpaid
        interest designated to be converted may not be prepaid by the Maker and shall
        be
        converted in accordance with Section 3.3 hereof; provided further
        that if
        during the period between delivery of the Maker’s Prepayment Notice and the
        Maker’s Prepayment Date (as defined below), a holder shall become entitled to
        deliver a Notice of Prepayment at Option of Holder Upon Major Transaction
        or
        Notice of Prepayment at Option of Holder upon Triggering Event, then the
        such
        rights of the holders shall take precedence over the previously delivered
        Maker
        Prepayment Notice. The Maker’s Prepayment Notice shall state the date of
        prepayment which date shall be the thirty-first (31st)
        day
        after the Maker has delivered the Maker’s Prepayment Notice (the “Maker’s
        Prepayment Date”),
        the
        Maker’s Prepayment Price and the principal amount of Notes plus any accrued but
        unpaid interest to be prepaid by the Maker. The Maker shall deliver the Maker’s
        Prepayment Price on the Maker’s Prepayment Date, provided,
        that if
        the holder(s) delivers a Conversion Notice before the Maker’s Prepayment Date,
        then the portion of the Maker’s Prepayment Price which would be paid to prepay
        the Notes covered by such Conversion Notice shall be returned to the Maker
        upon
        delivery of the Common Stock issuable in connection with such Conversion
        Notice
        to the holder(s). On the Maker’s Prepayment Date, the Maker shall pay the
        Maker’s Prepayment Price, subject to any adjustment pursuant to the immediately
        preceding sentence, to the holder(s) on a pro rata basis. If the Maker fails
        to
        pay the Maker’s Prepayment Price by the thirty-first (31st)
        day
        after the Maker has delivered the Maker’s Prepayment Notice, the prepayment will
        be declared null and void and the Maker shall lose its right to serve a Maker’s
        Prepayment Notice pursuant to this Section 3.7(k) in the future. Notwithstanding
        the foregoing to the contrary, the Maker may effect a prepayment pursuant
        to
        this Section 3.7(k) only if (A) the Registration Statement is effective and
        has
        been effective, without lapse or suspension of any kind, for a period sixty
        (60)
        consecutive calendar days immediately preceding the Maker’s Prepayment Notice
        through the Maker’s Prepayment Date, (B) trading
        in the Common Stock shall not have been suspended by the Securities and Exchange
        Commission or the Pink Sheets or OTC Bulletin Board (or other exchange or
        market
        on which the Common Stock is trading), (C) the Maker is in material compliance
        with the terms and conditions of this Note and the other Transaction Documents,
        and (D) the Maker is not in possession of any material non-public
        information.

       

      
        
          
          

        

        
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      Section
        3.8 Inability
        to Fully Convert.

       

      (a) Holder’s
        Option if Maker Cannot Fully Convert.
        If,
        upon the Maker’s receipt of a Conversion Notice, the Maker cannot issue shares
        of Common Stock registered for resale under the Registration Statement for
        any
        reason, including, without limitation, because the Maker (w) does not have
        a
        sufficient number of shares of Common Stock authorized and available, (x)
        is
        otherwise prohibited by applicable law or by the rules or regulations of
        any
        stock exchange, interdealer quotation system or other self-regulatory
        organization with jurisdiction over the Maker or any of its securities from
        issuing all of the Common Stock which is to be issued to the Holder pursuant
        to
        a Conversion Notice or (y) fails to have a sufficient number of shares of
        Common
        Stock registered for resale under the Registration Statement, then the Maker
        shall issue as many shares of Common Stock as it is able to issue in accordance
        with the Holder’s Conversion Notice and, with respect to the unconverted portion
        of this Note, the Holder, solely at Holder’s option, can elect to:

       

      (i)  require
        the Maker to prepay that portion of this Note for which the Maker is unable
        to
        issue Common Stock in accordance with the Holder’s Conversion Notice (the
“Mandatory
        Prepayment”)
        at a
        price per share equal to the Triggering Event Prepayment Price as of such
        Conversion Date (the “Mandatory
        Prepayment Price”);

       

      (ii)  if
        the
        Maker’s inability to fully convert is pursuant to Section 3.8(a)(x) above,
        require the Maker to issue restricted shares of Common Stock in accordance
        with
        such holder’s Conversion Notice;

       

      (iii)  void
        its
        Conversion Notice and retain or have returned, as the case may be, this Note
        that was to be converted pursuant to the Conversion Notice (provided that
        the
        Holder’s voiding its Conversion Notice shall not effect the Maker’s obligations
        to make any payments which have accrued prior to the date of such
        notice);

       

      
        
          
          

        

        
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      (iv)  exercise
        its Buy-In rights pursuant to and in accordance with the terms and provisions
        of
        Section 3.3(c) of this Note.

       

      In
        the
        event a Holder shall elect to convert any portion of its Notes as provided
        herein, the Maker cannot refuse conversion based on any claim that such Holder
        or any one associated or affiliated with such Holder has been engaged in
        any
        violation of law, violation of an agreement to which such Holder is a party
        or
        for any reason whatsoever, unless, an injunction from a court, on notice,
        restraining and or adjoining conversion of all or of said Notes shall have
        been
        issued and the Maker posts a surety bond for the benefit of such Holder in
        an
        amount equal to 120% of the principal amount of the Notes the Holder has
        elected
        to convert, which bond shall remain in effect until the completion of
        arbitration/litigation of the dispute and the proceeds of which shall be
        payable
        to such Holder in the event it obtains judgment. 

      

      (b) Mechanics
        of Fulfilling Holder’s Election.
        The
        Maker shall immediately send via facsimile to the Holder, upon receipt of
        a
        facsimile copy of a Conversion Notice from the Holder which cannot be fully
        satisfied as described in Section 3.8(a) above, a notice of the Maker’s
        inability to fully satisfy the Conversion Notice (the “Inability
        to Fully Convert Notice”).
        Such
        Inability to Fully Convert Notice shall indicate (i) the reason why the Maker
        is
        unable to fully satisfy such holder’s Conversion Notice, (ii) the amount of this
        Note which cannot be converted and (iii) the applicable Mandatory Prepayment
        Price. The Holder shall notify the Maker of its election pursuant to Section
        3.8(a) above by delivering written notice via facsimile to the Maker
        (“Notice
        in Response to Inability to Convert”).

       

      (c) Payment
        of Prepayment Price.
        If the
        Holder shall elect to have its Notes prepaid pursuant to Section 3.8(a)(i)
        above, the Maker shall pay the Mandatory Prepayment Price to the Holder within
        thirty (30) days of the Maker’s receipt of the Holder’s Notice in Response to
        Inability to Convert, provided
        that
        prior to the Maker’s receipt of the Holder’s Notice in Response to Inability to
        Convert the Maker has not delivered a notice to the Holder stating, to the
        satisfaction of the Holder, that the event or condition resulting in the
        Mandatory Prepayment has been cured and all Conversion Shares issuable to
        the
        Holder can and will be delivered to the Holder in accordance with the terms
        of
        this Note. If the Maker shall fail to pay the applicable Mandatory Prepayment
        Price to the Holder on the date that is one (1) business day following the
        Maker’s receipt of the Holder’s Notice in Response to Inability to Convert
        (other than pursuant to a dispute as to the determination of the arithmetic
        calculation of the Prepayment Price), in addition to any remedy the Holder
        may
        have under this Note and the Purchase Agreement, such unpaid amount shall
        bear
        interest at the rate of two percent (2%) per month (prorated for partial
        months)
        until paid in full. Until the full Mandatory Prepayment Price is paid in
        full to
        the Holder, the Holder may (i) void the Mandatory Prepayment with respect
        to
        that portion of the Note for which the full Mandatory Prepayment Price has
        not
        been paid, (ii) receive back such Note, and (iii) require that the Conversion
        Price of such returned Note be adjusted to the lesser of (A) the Conversion
        Price as in effect on the date on which the Holder voided the Mandatory
        Prepayment and (B) the lowest Closing Bid Price during the period beginning
        on
        the Conversion Date and ending on the date the Holder voided the Mandatory
        Prepayment. 

       

      
        
          
          

        

        
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      (d) Pro-rata
        Conversion and Prepayment.
        In the
        event the Maker receives a Conversion Notice from more than one holder of
        the
        Notes on the same day and the Maker can convert and prepay some, but not
        all, of
        the Notes pursuant to this Section 3.8, the Maker shall convert and prepay
        from
        each holder of the Notes electing to have its Notes converted and prepaid
        at
        such time an amount equal to such holder’s pro-rata amount (based on the
        principal amount of the Notes held by such holder relative to the principal
        amount of the Notes outstanding) of all the Notes being converted and prepaid
        at
        such time.

       

      Section
        3.9 No
        Rights as Shareholder. Nothing contained in this Note shall be construed as
        conferring upon the Holder, prior to the conversion of this Note, the right
        to
        vote or to receive dividends or to consent or to receive notice as a shareholder
        in respect of any meeting of shareholders for the election of directors of
        the
        Maker or of any other matter, or any other rights as a shareholder of the
        Maker.

       

      ARTICLE
        IV  

       

      MISCELLANEOUS

       

      Section
        4.1  Notices.
        Any
        notice, demand, request, waiver or other communication required or permitted
        to
        be given hereunder shall be in writing and shall be effective (a) upon hand
        delivery, telecopy or facsimile at the address or number designated in the
        Purchase Agreement (if delivered on a business day during normal business
        hours
        where such notice is to be received), or the first business day following
        such
        delivery (if delivered other than on a business day during normal business
        hours
        where such notice is to be received) or (b) on the second business day following
        the date of mailing by express courier service, fully prepaid, addressed
        to such
        address, or upon actual receipt of such mailing, whichever shall first occur.
        The Maker will give written notice to the Holder at least ten (10) days prior
        to
        the date on which the Maker takes a record (x) with respect to any dividend
        or
        distribution upon the Common Stock, (y) with respect to any pro rata
        subscription offer to holders of Common Stock or (z) for determining rights
        to
        vote with respect to any Organic Change, dissolution, liquidation or winding-up
        and in no event shall such notice be provided to such holder prior to such
        information being made known to the public. The Maker will also give written
        notice to the Holder at least ten (10) days prior to the date on which any
        Organic Change, dissolution, liquidation or winding-up will take place and
        in no
        event shall such notice be provided to the Holder prior to such information
        being made known to the public. The Maker shall promptly notify the Holder
        of
        this Note of any notices sent or received, or any actions taken with respect
        to
        the Other Notes.

       

      Section
        4.2  Governing
        Law. This Note shall be governed by and construed in accordance with the
        internal laws of the State of New York, without giving effect to any of the
        conflicts of law principles which would result in the application of the
        substantive law of another jurisdiction. This Note shall not be interpreted
        or
        construed with any presumption against the party causing this Note to be
        drafted.

       

      
        
          
          

        

        
          Page
            22

          
            

          

        

        
          
          

        

         

      

      Section
        4.3  Headings.
        Article and section headings in this Note are included herein for purposes
        of
        convenience of reference only and shall not constitute a part of this Note
        for
        any other purpose.

       

      Section
        4.4  Remedies,
        Characterizations, Other Obligations, Breaches and Injunctive Relief. The
        remedies provided in this Note shall be cumulative and in addition to all
        other
        remedies available under this Note, at law or in equity (including, without
        limitation, a decree of specific performance and/or other injunctive relief),
        no
        remedy contained herein shall be deemed a waiver of compliance with the
        provisions giving rise to such remedy and nothing herein shall limit a holder’s
        right to pursue actual damages for any failure by the Maker to comply with
        the
        terms of this Note. Amounts set forth or provided for herein with respect
        to
        payments, conversion and the like (and the computation thereof) shall be
        the
        amounts to be received by the holder thereof and shall not, except as expressly
        provided herein, be subject to any other obligation of the Maker (or the
        performance thereof). The Maker acknowledges that a breach by it of its
        obligations hereunder will cause irreparable and material harm to the Holder
        and
        that the remedy at law for any such breach may be inadequate. Therefore the
        Maker agrees that, in the event of any such breach or threatened breach,
        the
        Holder shall be entitled, in addition to all other available rights and
        remedies, at law or in equity, to seek and obtain such equitable relief,
        including but not limited to an injunction restraining any such breach or
        threatened breach, without the necessity of showing economic loss and without
        any bond or other security being required. 

       

      Section
        4.5  Enforcement
        Expenses. The Maker agrees to pay all costs and expenses of enforcement of
        this Note, including, without limitation, reasonable attorneys’ fees and
        expenses.

       

      Section
        4.6  Binding
        Effect. The obligations of the Maker and the Holder set forth herein shall
        be binding upon the successors and assigns of each such party, whether or
        not
        such successors or assigns are permitted by the terms hereof.

       

      Section
        4.7  Amendments.
        This Note may not be modified or amended in any manner except in writing
        executed by the Maker and the Holder.

       

      Section
        4.8  Compliance
        with Securities Laws. The Holder of this Note acknowledges that this Note is
        being acquired solely for the Holder’s own account and not as a nominee for any
        other party, and for investment, and that the Holder shall not offer, sell
        or
        otherwise dispose of this Note. This Note and any Note issued in substitution
        or
        replacement therefor shall be stamped or imprinted with a legend in
        substantially the following form:

       

      “THIS
        NOTE
        AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN
        REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
        APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR TRANSFERRED IN THE
        ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE MAKER OF AN OPINION OF COUNSEL
        IN
        THE FORM, SUBSTANCE AND SCOPE REASONABLY SATISFACTORY TO THE MAKER THAT THIS
        NOTE AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION HEREOF HAVE
        MAY BE
        SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE DISPOSED OF, UNDER AN EXEMPTION
        FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES LAWS.”

      

      
        
          
          

        

        
          Page
            23

          
            

          

        

        
          
          

        

         

      

      Section
        4.9  Consent
        to Jurisdiction.
        Each of
        the Maker and the Holder (i) hereby irrevocably submits to the exclusive
        jurisdiction of the United States District Court sitting in the Southern
        District of New York and the courts of the State of New York located in New
        York
        county for the purposes of any suit, action or proceeding arising out of
        or
        relating to this Note and (ii) hereby waives, and agrees not to assert in
        any
        such suit, action or proceeding, any claim that it is not personally subject
        to
        the jurisdiction of such court, that the suit, action or proceeding is brought
        in an inconvenient forum or that the venue of the suit, action or proceeding
        is
        improper. Each of the Maker and the Holder consents to process being served
        in
        any such suit, action or proceeding by mailing a copy thereof to such party
        at
        the address in effect for notices to it under the Purchase Agreement and
        agrees
        that such service shall constitute good and sufficient service of process
        and
        notice thereof. Nothing in this Section 4.9 shall affect or limit any right
        to
        serve process in any other manner permitted by law. Each of the Maker and
        the
        Holder hereby agree that the prevailing party in any suit, action or proceeding
        arising out of or relating to this Note shall be entitled to reimbursement
        for
        reasonable legal fees from the non-prevailing party. 

       

      Section
        4.10  Parties
        in Interest. This Note shall be binding upon, inure to the benefit of and be
        enforceable by the Maker, the Holder and their respective successors and
        permitted assigns.

       

      Section
        4.11  Failure
        or Indulgence Not Waiver. No failure or delay on the part of the Holder in
        the exercise of any power, right or privilege hereunder shall operate as
        a
        waiver thereof, nor shall any single or partial exercise of any such power,
        right or privilege preclude other or further exercise thereof or of any other
        right, power or privilege.

       

      Section
        4.12  Maker
        Waivers. Except as otherwise specifically provided herein, the Maker and all
        others that may become liable for all or any part of the obligations evidenced
        by this Note, hereby waive presentment, demand, notice of nonpayment, protest
        and all other demands’ and notices in connection with the delivery, acceptance,
        performance and enforcement of this Note, and do hereby consent to any number
        of
        renewals of extensions of the time or payment hereof and agree that any such
        renewals or extensions may be made without notice to any such persons and
        without affecting their liability herein and do further consent to the release
        of any person liable hereon, all without affecting the liability of the other
        persons, firms or Maker liable for the payment of this Note, AND DO HEREBY
        WAIVE
        TRIAL BY JURY.

       

      (a)  No
        delay
        or omission on the part of the Holder in exercising its rights under this
        Note,
        or course of conduct relating hereto, shall operate as a waiver of such rights
        or any other right of the Holder, nor shall any waiver by the Holder of any
        such
        right or rights on any one occasion be deemed a waiver of the same right
        or
        rights on any future occasion.

       

      
        
          
          

        

        
          Page
            24

          
            

          

        

        
          
          

        

         

      

      (b)  THE
        MAKER
        ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A COMMERCIAL
        TRANSACTION, AND TO THE EXTENT ALLOWED BY APPLICABLE LAW, HEREBY WAIVES ITS
        RIGHT TO NOTICE AND HEARING WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH
        THE
        HOLDER OR ITS SUCCESSORS OR ASSIGNS MAY DESIRE TO USE.

       

      Section
        4.13 Definitions.
        For the
        purposes hereof, the following terms shall have the following
        meanings:

      

      “Person”
means
        an individual or a corporation, partnership, trust, incorporated or
        unincorporated association, joint venture, limited liability company, joint
        stock company, government (or an agency or political subdivision thereof)
        or
        other entity of any kind.

      

      “Trading
        Day”
means
        (a) a day on which the Common Stock is traded on the Pink Sheets, OTC Bulletin
        Board, or (b) if the Common Stock is not traded on the Pink Sheets or OTC
        Bulletin Board, a day on which the Common Stock is quoted in the
        over-the-counter market as reported by the National Quotation Bureau
        Incorporated (or any similar organization or agency succeeding its functions
        of
        reporting prices); provided,
        however,
        that in
        the event that the Common Stock is not listed or quoted as set forth in (a)
        or
        (b) hereof, then Trading Day shall mean any day except Saturday, Sunday and
        any
        day which shall be a legal holiday or a day on which banking institutions
        in the
        State of New York are authorized or required by law or other government action
        to close.

      
        	
                 

              	 	 
	 	INTERLINK
                GLOBAL CORP.
	 
 	 
 	 
 
	 	By:  	 
	 	
                
                  

                

                Name: Anastasios
                  N. Kyriakides

                Title: President

              
	 	 

      

      

      
        
          
          

        

        
          Page
            25

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        A

      

      WIRE
        INSTRUCTIONS

       

      Payee:
        ________________________________________________________

       

      Bank:
        ________________________________________________________

       

      Address:
        _____________________________________________________

       

      ______________________________________________________

       

      Bank
        No.:
        _____________________________________________________

       

      Account
        No.: __________________________________________________

       

      Account
        Name: _________________________________________________

       

      
        
          
          

        

        
          Page
            26

          
            

          

        

        
          
          

        

      

      FORM
        OF

       

      NOTICE
        OF
        CONVERSION

       

      (To
        be
        Executed by the Registered Holder in order to Convert the Note)

       

      The
        undersigned hereby irrevocably elects to convert $
        _____________________________

       

      of
        the
        principal amount of the above Note No. _________________________ into shares
        of
        Common Stock of Interlink Global Corp. (the “Maker”) according to the conditions
        hereof, as of the date written below.

       

      Date
        of
        Conversion
        _________________________________________________________

       

      Applicable
        Conversion Price __________________________________________________

       

      Number
        of
        shares of Common Stock beneficially owned or deemed beneficially owned by
        the
        Holder on the Date of Conversion: _________________________

       

      Signature___________________________________________________________________

       

      [Name]

       

      Address:
        __________________________________________________________________

       

       _______________________________________________________________________

       

      
        
          
          

        

        
          Page
            27

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