Document:

Asia Leechdom Holding Corp.: Exhibit 4.1 - Filed by newsfilecorp.com

	
 
	
Exhibit 4.1

	
Mark J. Giunta (#015079)

Law Office of Mark J. Giunta

845 N. Third Ave.

Phoenix, AZ 85003-1408

Phone: (602) 307-0837

Fax: (602) 307-0838

Email: Mark.Giunta@Azbar.org

Attorney for visitalk.com, Inc.

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF ARIZONA

		

	
    In re:

VISITALK.COM, INC., 

Tax I.D. #86-0930147 

Debtor,

		
    Chapter 11 Proceeding

Case No. 00-13035-PHX-RTB

	

SECOND JOINT PLAN OF REORGANIZATION

Dated June 22, 2004

     visitalk.com, Inc., an Arizona corporation (“Visitalk”), the Debtor and Debtor-in-Possession (the “Proponent”) in the above-captioned case; hereby proposes a Joint Plan of
Reorganization (“Plan”) pursuant to 11 U.S.C. §1129 with affiliates formed or to be formed before the Effective Date; VT Equities Corp., (“VTEC”), Visitalk, Inc., d/b/a VT Consumer Services
(“CSI”), VT Business Products, Inc. (“BPI”), VT Gaming Services, Inc. (“Gaming”), VT Financial Services, Inc. (“Financial”), VT International Corp.
(“International”), VT Billing Services, Inc. (“Billing”), VT Marketing Services, Inc. (“Marketing”), VT Video Services, Inc. (“Video”), VT Language Specific One, Inc. through VT Language
Specific Ten, Inc. (“Languages 1-10”) and NavEdge Networks, Inc. (“NavEdge”). The Proponent, VTEC, CSI,

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BPI, Gaming, Financial, International, Billing, Marketing, Video, Languages 1-10 and NavEdge
are referred to in the Plan following as the “Co-Proponents.”

 

 

 

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INDEX FOR SECOND JOINT PLAN OF REORGANIZATION
	
	
Article
		
 		
 
		
 		
Page 
	
	
I
		
 		
Definitions
		
 		
4 
	
	
II
		
 		
Objective Of The Reorganization
		
 		
4 
	
	
III
		
 		
Classification Of Claims And Interests
		
 		
8 
	
	
IV
		
 		
Identification Of Classes Impaired Under The Plan
		
 		
12 
	
	
V
		
 		
Treatment Of Classified Claims And Interests
		
 		
13 
	
	
VI
		
 		
Post Confirmation Management Of The Reorganized Debtor
		
 		
20 
	
	
VII
		
 		
Anticipated Post Confirmation Litigation
		
 		
22 
	
	
VIII
		
 		
Acceptance And Rejection Of Executory Contracts
		
 		
23 
	
	
IX
		
 		
Descriptions Of Securities To Be Issued In Satisfaction Of Claims And
		
 		
23 
	
	
 
		
 		
Interests
		
 		
  
	
	
X
		
 		
Post Confirmation Business Operations
		
 		
33 
	
	
XI
		
 		
Ownership Of The Debtor’s Assets And Causes Of Action
		
 		
33 
	
	
XII
		
 		
The Creditor’s Trust
		
 		
34 
	
	
XIII
		
 		
Continuation And Termination Of Security Interests
		
 		
42 
	
	
XIV
		
 		
Insurance
		
 		
43 
	
	
XV
		
 		
Satisfaction Of Claims And Interests
		
 		
43 
	
	
XVI
		
 		
Binding Nature Of The Plan
		
 		
44 
	
	
XVII
		
 		
Termination Of The Automatic Stay And Discharge
		
 		
44 
	
	
XVIII
		
 		
Implementation Of The Plan
		
 		
44 
	
	
XIX
		
 		
Modification Of And Amendments To This Plan
		
 		
50 
	
	
XX
		
 		
Remedies For Defaults By The Reorganized Debtor
		
 		
50 
	
	
XXI
		
 		
Retention Of Bankruptcy Court Jurisdiction
		
 		
51 
	
	
XXII
		
 		
Request For Confirmation
		
 		
52 
	
	

		
	
LIST OF EXHIBITS
		
  
	
	
Appendix A
		
Definitions 
	
	Exhibit 1 

		Form of merger document between VTEC
    and the Debtor 

	
	
    Exhibit 2	

    Form of Equity Incentive Plan

	

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ARTICLE I

DEFINITIONS

1.1  Defined Terms. The capitalized terms used in this Plan shall have the meanings as set forth
in Appendix “A” attached hereto.

1.2 Undefined Terms. Terms and phrases, whether capitalized or not, that are used and not defined in Appendix “A” attached hereto, but are defined by the Bankruptcy Code, have the meanings ascribed to them in the
Bankruptcy Code.

1.3 Interpretation. The headings in this Plan are for convenience and reference only and shall not limit or otherwise affect the provisions hereof. Words denoting the singular number shall include the plural number and vice
versa, and words denoting one gender shall include the other gender.

ARTICLE II

OBJECTIVE OF THE REORGANIZATION

2.1 General Plan. This Plan provides for the reorganization of Debtor through the creation of Operating Subsidiaries and a subsequent merger of the Debtor with VTEC, in which the Allowed Unsecured Creditors of the Debtor
have an equity interest, and a conveyance of the Debtor’s Causes of Action and $50,000 to a Creditor’s Trust whose beneficiaries include in part the Allowed Unsecured Creditors of the Debtor.

     VTEC, which will be incorporated in Nevada, will be the survivor in the merger. The form of merger document is attached as Exhibit 1. VTEC will operate as a holding company. After the Effective Date, VTEC will initially
control eighteen Operating Subsidiaries based on Visitalk’s businesses and will own an interest in NavEdge. VTEC will become the Reorganized Debtor. The purpose of this post confirmation structure is to have a fresh start Reorganized Debtor
with modern Articles of Incorporation and by-laws, incorporated in a state with favorable laws and low costs. Once the Plan has been implemented and the Articles of Merger filed, the Debtor shall be dissolved in accordance with Arizona law.

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     Any of the Operating Subsidiaries may acquire other assets and/or existing business operations with the objective of creating additional value for such Operating Subsidiaries’ shareholders and for the shareholders
of the Reorganized Debtor. The Plan creates “currency” in the form of securities that may be issued by the Operating Subsidiaries, which will have potentially publicly trading securities.

The Co-proponents believe that these securities could be used to, among other beneficial
objectives:

	
(a)      		
attract capital;

	
	 
	
(b)      		
attract additional qualified management; or

	
	 
	
(c)      		
acquire assets or entities and for mergers or acquisitions.

	
	 

     The Debtor’s creditors and claim holders may be issued VTEC securities and Operating Subsidiary securities or Series A Senior Notes or Series B Notes in differing amounts depending upon their election to be paid
with securities issued under the Plan and the classification and amount of their Allowed Claims. Any of the Debtor’s Funding Lenders, Administrative Claimants or Post petition Claimants may elect to be paid their loans or claims with securities
issued under the Plan. No securities will be issued to Holders of Old Common Stock or Holders of Old Preferred Stock except the Debtor will offer Holders of Old Preferred Stock common stock purchase warrants solely in exchange for a release of all
claims and for which such holders will have to invest new value as further described in Article IX. Such warrants would have nominal value but could be beneficial to the Reorganized Debtor and the Operating Subsidiaries in the future. Except for
this option, all of the Debtor’s Old Common Stock and Old Preferred Stock shall be canceled pursuant to this Plan.

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     The Debtor is authorized to issue securities of VTEC and its Operating Subsidiaries to its
creditors in satisfaction of their allowed claims.

     On the Effective Date of the Plan, all the Causes of Action of the Debtor, defined herein, shall be conveyed to the Creditors’ Trust along with $50,000 in cash to fund the operation of the Trust. Active
Professionals and Class 7 Allowed Unsecured Creditors shall be the beneficiaries of the Creditor’s Trust.

2.2 Facilities. The Debtor originally made a six-month arrangement with Aztoré, an advisor to the Debtor, effective April 1, 2001, to move to an appropriate facility of approximately 2,000 square feet. With this
commitment, on May 31, 2001, the Debtor completely vacated its 7th Street facility, which totaled about 27,000 square feet and relocated its offices and its network operating facility, necessary to maintain the Visitalk business, to its
new facility. This facility arrangement with Aztore included the availability of appropriate Bandwidth, power and secure computer operating facilities. Starting on October 1, 2001, the Debtor leased this facility directly on a month-to-month basis
from Quality Care Solutions, Inc., (“QCSI”) through October 2002. The Debtor owes QCSI $96,784.35 plus interest. Aztoré guaranteed this lease payment for a fee claim of $5,000 per month. On November 1, 2002 the Debtor again
restructured its facilities requirements to minimize overhead. Starting on that date a majority of the Debtor’s facility requirements were supplied through the NavEdge Operating Agreement and the Debtor directly rents additional storage space
for records and equipment storage.

2.3 Alternatives to the Plan. As set forth in the Disclosure Statement accompanying this Plan, if the Debtor’s assets were liquidated in a case under Chapter 7, the creditors holding general unsecured claims would receive
nothing for their claims since value of the Debtor’s assets are less than the outstanding Secured and Administrative Claims. The Debtor and its Co-Proponents believe that by continuing the Debtor’s existing business through the structure created by this Plan (which will result in part in the reduction of Administrative Claims) and conveying Causes of Action to the Creditor’s Trust in
which creditors holding general unsecured claims are beneficiaries, that these unsecured creditors will receive a greater return than through a liquidation.

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2.4 The NOL’s and the Investment Company Exemption. The Plan is structured to maintain the Debtor’s estimated $40,000,000 in NOL’s. The Plan is also structured so that the Reorganized Debtor may operate
as an investment company exempt from regulation under the Investment Company Act of 1940. Operating as an investment company improves the Reorganized Debtor’s opportunities to exploit the NOL’s. If the Debtor were liquidated, the
NOL’s would be lost.

2.5 Funding Plan. The Court previously approved a financing motion allowing the Debtor to raise funds to execute the Plan by borrowing up to (a) $1,000,000 from a Primary Lender Group (“PLG”) and/or (b) up to
$2,000,000 from a New Value Lender Group (“NVLG”). Approximately $338,500 has already been borrowed. The Holders of the Notes issued to the PLG and NVL groups can, at their sole option, elect under the Plan to have such notes paid
with securities of VTEC and the Operating Subsidiaries issued under the Plan. The Debtor has a commitment from Aztore, the largest PLG lender, or an Aztore affiliate, (jointly “Aztore”), to advance up to $200,000 to fund the Plan.
Aztore will lend the Debtor funds within five days of the Plan being filed with the Court. In accordance with the Court Order approving the PLG, the Debtor will loan the cash received to NavEdge, the successor to Technology, Property and Equipment
Corp. (“TPEC”) referenced in the original Court Order and the Debtor will pledge the note it receives from NavEdge (the “NavEdge Note”) to Aztore as collateral for Aztore’s PLG
loan. Aztore’s PLG loan shall be an administrative claim but in the event the Plan is not approved shall only have recourse to the NavEdge Note and Aztore’s claim shall in no way impact the Creditors Trust. Aztore shall agree that if the
Plan is approved it shall accept either Class 1(a) treatment or shares issued under the Plan in payment of its PLG loan as allowed by the Plan under Class 1(c).

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ARTICLE III

CLASSIFICATION OF CLAIMS AND INTERESTS

3.1 General. For the purposes of organization only with respect to administrative expenses and for purposes of organization, voting and all Confirmation matters with respect to all Claims of Creditors of the Debtor, this Plan
classifies Claims in separate and distinct Classes as follows:

	
3.2      		
Administrative Expenses and Claims.

	

            (a) Class 1(a) shall consist of the
 costs and expenses of administration as defined in Section 503 of the Bankruptcy Code
for which application or allowance is made, or a Claim is filed, as the same are allowed, approved, and ordered paid by the Court. Administrative Expenses shall consist of: (1) all Claims arising
under Section 330 of the Bankruptcy Code, including reasonable compensation for actual and necessary services rendered by a professional person (including attorneys) and by an paraprofessional persons employed by such, based on, among other things,
the nature, extent and value of such services, the time spent on such services, and the cost of comparable services other than in a case under Title 11; (2) the costs and expenses of the administration of this proceeding, including, but not limited
to, any Bankruptcy Court Clerk fees or Court Reporter’s fees which have not been paid, the cost of reproduction and mailing of this Plan and Disclosure Statement; (3) any post-petition operating expenses of the
Debtor which are due and unpaid at the Effective Date; and (4) the actual and necessary costs of
preserving the Debtor’s estate.

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     The Debtor estimates that Class 1(a) claims, at the time of confirmation, will be approximately $1,300,000 of which $450,000 is due to Active Professionals performing services for the Debtor’s estate or the
Debtor.

     (b) Class 1(b) claims shall consist of the Allowed Administrative Claims of the Funding Lenders. This class shall include the claims of the LLC in the asserted principal amount of
$250,000, plus interest. The LLC asserts a security interest in furniture and equipment (with the exception of the Axient Equipment) and proceeds from the sale there from. This class also includes the NVLG Noteholders and the PLG Noteholders,
excluding Aztoré’s PLG Claim, up to a principal amount of $3,000,000, less Aztore’s PLG Claim, depending on the amount of funds actually advanced by the Primary Lender Group or the New Value Lender Group to the Debtor. These
notes are secured by notes issued by NavEdge or other collateral.

     (c) Class 1(c) claims shall consist of Allowed Administrative Claims of Aztoré. These claims include the (i) the Aztoré Primary Lender Claim which is currently
asserted to be $200,000 but may increase; (ii) the asserted Aztoré Agency Fee Claim in the amount of $100,000 under the Court approved NVLG and PLG loan agreements; (iii) the asserted Aztoré Facilities Fee
Claim in the amount of $50,000 arising from supplying the Debtor facilities between April 1, 2001 and September 30, 2001; (iv) the asserted Aztore Rent Guaranty Claim in the amount of $65,000 for guaranteeing the
Debtor’s rent, still currently unpaid, between October 1, 2001 and October 30, 2002 and (v) the asserted Aztore Financial Services and Operations Fee Claim in the amount of $50,000 arising from supplying the Debtor
management
and consulting services including assistance with structural issues, recruiting employees, designing incentive programs in the bankruptcy context, financial analysis, financial reporting and development and coordination of the creation of financing
offerings under the Plan.

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     (d) Class 1(d) claims shall consist of the Allowed Administrative claims of the post-petition employee group in the estimated amount of about $558,000. This amount will depend on the date
of the Plan confirmation and Effective Date. A majority of this claim will be paid in securities issued under the Plan.

     Included in Class 1(d) is the Allowed Administrative Claim of Rick Rothwell (“Rothwell Administrative Claim”), former President of the Debtor (post-petition). This claim has two components. The first is known
as the Rothwell Cash Claim which is in the estimated amount of about $44,000. The second is the Rothwell Equity Claim which Rothwell has agreed in advance could only be paid by equities under a Plan of Reorganization. The Rothwell Equity Claim,
if allowed, could be in excess of $400,000. Class 1(d) also includes any Allowed Administrative Claim by Gerry Mayo, the current President of the Debtor which also has two components similar to the Rothwell Administrative Claim. It is estimated
that Mayo would have a cash claim of $13,000 plus a $107,000 claim payable only in equity.

3.3 Class 2: Priority Claims (Excluding Tax Claims). Class 2 consists of all Allowed Claims entitled to priority under section 507(a)(1) through (9) excluding subsection (8), tax claims, of the Bankruptcy Code. The Debtor
estimates that there are approximately $55,000 in priority wage claims arising under Section 507(a)(3).

3.4 Class 3: Priority Tax Claims (Section 507(a)(8)). Class 3 consists of all Allowed
Claims entitled to priority under section 507(a)(8) of the Bankruptcy Code, which include tax
claims. The Debtor believes that no amounts are due to the IRS or State taxing authorities
entitled to priority treatment pursuant to 11 U.S.C. § 507(a)(8).

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3.5 Class 4: Secured Claim of Axient. Class 4 consists of any Allowed Secured Claim held by Axient Communications, Inc. (“Axient”). The Allowance of Axient’s Secured Claim has been resolved by a Stipulation
wherein Axient released its security interest, received a note for $30,000 to be paid pursuant to the Debtor’s Plan and an Allowed Unsecured Claim of $250,000. This Class is impaired.

3.6 Class 5: Secured Claim of Cisco. Class 5 consists of any Allowed Secured Claim held by Cisco Systems, Inc. (“Cisco”). Cisco purported to hold a security interest in the Compaq Servers. On September 28, 2001, Cisco
and the Debtor entered into a stipulation settling their disputes regarding this claim entered by the Court on or about October 11, 2001. Cisco agreed to a Class 1(a) Administrative Claim of $70,490, a secured claim in the amount of $50,000,
and an Allowed Unsecured Claim against the Debtor in the amount of $625,374.46. This Class is impaired.

3.7 Class 6: Secured Claim of American Fire Equipment Sales and Services Corp. Class 6 consists of any Allowed Secured Claim by American Fire Equipment Sales and Services Corp. (“Fire Equipment”) arising from
the sale to the Debtor of a fire suppression system in which Fire Equipment purported to retain a lien in the system securing the approximate amount of $31,951. This Class is impaired.

3.8 Class 7: Unsecured Creditors Claims. Class 7 consisted of the Allowed Unsecured
Claims of Creditors. Based on proofs of claim filed with this Court there are allowed and/or
asserted, but not yet allowed, unsecured claims of approximately $8,500,000.00.
This Class is impaired.

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3.9 Class 8: Preferred Stock Equity Interest Claims. Class 8 consists of the Allowed
Interests of all of the holders of the Debtor’s Old Preferred Stock.

3.10 Class 9: Common Stock Equity Interest Claims. Class 9 consists of the Allowed
Interests of all of the holders of the Debtor’s Old Common stock

ARTICLE IV

IDENTIFICATION OF CLASSES IMPAIRED BY THE PLAN

4.1 General. Only some of the classes of claims and interests created by the Plan are considered “impaired” pursuant to 11 U.S.C. § 1124. This means, in part, that the Plan modifies the contractual rights
of all holders of claims and interests, that holders of classified claims will not receive the allowed amounts of their claims in cash on the Effective Date of the Plan, and that holders of allowed interests will not retain any fixed liquidation
preference or be paid any fixed redemption amount for equity securities held.

4.2 Impaired Classes of Claims. Classes 4, 5, 6, 7, 8 and 9 are impaired under this Plan.
Class 3 is treated in accordance with Section 1129(a) of the Bankruptcy Code.

4.3 Impairment Controversies. If a controversy arises as to whether any Claim or any class of Claims is impaired under this Plan, such class shall be treated as specified in this Plan unless the Bankruptcy Court shall
determine such controversy upon motion of the party challenging the characterization of a particular Class or Claim under this Plan.

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ARTICLE V

TREATMENT OF CLASSIFIED CLAIMS AND INTERESTS

5.1 Claim Amounts. Because certain of the claims against the Debtor are either unknown or for undetermined amounts, the amounts of claims specified in the Plan reflect only the Debtor's best estimate as of the date hereof. A
list of creditors and claim amounts are included in the Schedules and Statement of Affairs filed by the Debtor in this case. The Debtor reserves the right to object to any claim and equity security interests noted in the Schedules and Statement of
Affairs, or any other claim asserted against the Debtor, either prior to or following Confirmation. Under the Plan, objections to claims must be filed within sixty (60) days following the Effective Date of the Plan.

     The Debtor shall distribute all securities to Holders of Allowed Claims, pursuant to the terms of this Plan, within 120 days of the Effective Date. Regardless, on the Final Effective Date the Holders of Allowed Claims
shall become the owners of the securities with all rights to transfer them on the books of the Reorganized Debtor until issued. Unless otherwise specified, in calculating the number of Securities to be distributed pursuant to any formulae set forth
below, the number of such Securities to be distributed to each Holder of an Allowed Claim or Allowed Interest shall be rounded up to the next even number but in no event shall any claimant receive less than 100 Shares or Units or a note with less
than $100 in principal.

	
5.2      		
Treatment Of Administrative Claims and Expenses

	

            (a) Class 1(a) Claims (Administrative Expense Claims). On the Final Effective Date,
the Allowed Amount of Class 1(a) Administrative Expenses of all Class 1(a) claimants, except Active Professionals, shall be paid in full through the issuance, at the option of such administrative claimants, by a Series A Note OR a Series B
Note OR for each $1.00 of allowed
claim the following securities: one share of VTEC Common Stock plus eight VTEC Warrant Units plus 1/8 share of each Operating Subsidiary Common Stock plus one hundred Operating Subsidiary Warrant Units. Such Series A Notes or Series B
Notes will be issued in $10 increments, rounded up, and will be a general unsecured claim of VTEC. All trade and service debts and obligations incurred in the normal course of the Debtor's business during the Chapter 11 case since January 1,
2003 shall be paid when due in the ordinary course of business except if otherwise elected by the creditor. Such election regarding notes or other securities must take place at no later than the date that the ballots are due for this Plan. If the
Claimant makes no election, the Claimant shall as a default receive Series A Notes.

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     On the Effective Date, the claims of Active Professionals included in Class 1(a) shall A) be reduced (to any extent that they have not already been so reduced) by the proceeds paid to certain of these Professionals
pursuant to page 5 of the Motion To Approve Amendment To Note Agreement filed on September 27, 2002 and subsequently approved by the Court, B) be paid a pro rata share of the Causes of Action Proceeds (with $50,000 of said Causes of Action
Proceeds to be held back and conveyed to the Creditors’ Trust free and clear of liens to fund its operation), and C) be paid their pro-rata share of an additional $75,000 to be provided by the Funding Lenders, and D) the Active
Professionals shall, to the extent that their Claims remain unpaid, become beneficiaries of the Creditors Trust and paid from the proceeds of such Trust.

     (b) Class 1(b) Claims (the “Funding Lender Claims”). The holder of a Class 1(b) Claim may elect to take payment of any portion of such claim plus interest as either a Series A Senior Note or
Series B Note issued in $10.00 increments rounded up or for each $1.00 of claim the following: two VTEC Common Shares plus eight VTEC Warrant Units plus one Operating
Subsidiary Common Share plus four Operating Subsidiary Warrant Units. Each member of the Funding Lender Group may elect to direct payment of such securities issued under the Plan and these payments may go directly to the Class 1(b)’s
members as if they were direct lenders. To elect to receive the Series A Senior Note, or to elect to receive the Series B Note, any class member must notify the Debtor by certified mail by the time that ballots are due for this Plan. If they do not
provide such notice, they will be deemed to have elected to be paid with securities issued under the Plan. The elections of each of the members of the LLC shall occur in place of an election by the LLC.

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     (c) Class 1(c) Claims (the Aztoré Claims). Class 1(c) Claims, plus interest, will be paid on the Effective Date through the issuance of four VTEC Common Shares plus eight VTEC Warrant Units for each
$1.00 of claim. If Aztore acquires any Class 1(a) claims it can elect to take Class 1(a) treatment or Class 1(c) treatment.

     (d) Class 1(d) Claims (the Post petition Employee Claims). Except for Rothwell and Gerry Mayo, holders of allowed Class 1(d) Claims may elect to receive in full satisfaction of those claims the same treatment as
Class 1(b). Rothwell has agreed to accept in full settlement of the Rothwell Cash Claim a $44,000 Series B Note and in full settlement of the Rothwell Equity Claim a $10,000 cash payment to be provided by the Funding Lenders, plus the number
of VTEC Common Shares equal to 4.99% of the Reorganized Debtor issued at the consummation of the Plan plus Operating Subsidiary Common Shares equal to 1⁄2% of each Operating Subsidiary issued at the consummation of the Plan.

     To the extent Gerry Mayo receives an Allowed Administrative Claim, he has agreed to
settle such claim for $850 per month during the time of Mr. Mayo’s pre-confirmation service to the Debtor plus VTEC Common Stock equal to 3% of the VTEC Common Stock issued at the consummation of the Plan.

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5.3 Class 2: Priority Claims (Excluding Tax Claims). Class 2 Claims shall be treated the
same as the Class 1(a) claimants. Class 2 Claims are not Active Professionals Claims.

5.4 Class 3: Priority Tax Claims (Section 507(a)(8)). Class 3 Claims shall be paid in full by receiving deferred even quarterly cash payments commencing on the first day of the calendar quarter at least 90 days after the
Effective Date and continuing over a period of six years from the date of the claims’ assessment, of a value, as of the Effective Date of the Plan, equal to the allowed amount of such claim. The IRS has withdrawn its proof of claim and
confirmed there are no amounts due priority pursuant to 11 U.S.C. § 507(a)(8).

5.5 Class 4: Secured Claim of Axient. The Debtor will treat the Axient claim as if it were a Class 1(b) Funding Lender claim for $30,000. Axient may elect to receive a Series A Senior Note or a Series B Note. Unless the
Claimant affirmatively elects either such note it will receive the securities described in Section 5.2(b) herein. To maintain the same treatment as agreed to under a Stipulation between the Debtor and Axient related to Axient’s treatment under
the First Amended Joint Plan of Reorganization, one year after the Effective Date Axient may demand that the Reorganized Debtor repurchase all the securities so received for $33,000 (the “Put”). The Debtor’s liability under the
Put may be met by a third party. Axient’s Allowed Unsecured Claim of $250,000 shall be included in, and treated as, a Class 7 Claim.

5.6. Class 5: Secured Claim of Cisco. The Holder of the Class 5 Claim, Cisco, shall retain
all of its liens in the subject 32 Compaq servers. The Debtor will issue Cisco Series B
Convertible Notes for $120,000 in full settlement of both Cisco’s Class 1(a)
Administrative Claim and Secured Claim and Cisco will transfer the ownership of
the Compaq Servers to the Debtor. Cisco’s Allowed Unsecured Claim shall be
included in, and treated as, a Class 7 Claim. Cisco’s Class 1(a) Claim is
treated in its entirety in this section, Section 5.6, of the Plan and will
receive no separate or additional consideration on account of Section 5.2(a) of
this Plan.

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5.7. Class 6: Secured Claim of American Fire Equipment Sales and Services Corp. To the extent that Fire Equipment holds an Allowed Secured Claim, Fire Equipment shall retain all of its liens in the subject fire
suppression system. The Debtor shall consent to the return of the fire suppression system in full satisfaction of, and release, of all claims of any type and description by Fire Equipment against the Debtor. Any deficiency shall be treated as a
Class 7 Claim.

5.8. Class 7: Unsecured Creditors Claims. Class 7 Claimants shall receive each claimant’s pro rata share of the Class 7 Securities Pool based on the even dollar amount of each Allowed Unsecured Claims plus one
Creditor Trust Unit for each even $1.00 of each Allowed Unsecured Claims. The Class 7 Securities Pool will hold the following: 500,000 or 10% of VTEC’s Common Shares actually issued under the Plan, which ever is less, plus for each
VTEC Common Share issued to the Class 7 Securities Pool, the Class 7 Securities Pool will receive four VTEC Warrant Units. In addition, the Class 7 Securities Pool shall receive 100,000 Common Shares in each Operating Subsidiary plus 400,000
Operating Subsidiary Warrant Units. The Debtor and the Co-Proponents shall each have the authority to issue such additional shares of the Reorganized Debtor and Operating Subsidiaries to the Class 7 Securities Pool so that each Class 7 Allowed
Claimant shall hold at least 100 units of any security excluding the Trust Units.

5.9 Class 8: Preferred Stock Equity Interest Claims. All of Class 8 Equity Interest Holder’s Claims for Old Preferred Stock of Debtor shall be canceled by operation of this Plan. Therefore, the Class 8 Equity Interest
Holders shall retain none of their Old Preferred Stock or
any other interests in the Debtor, the Reorganized Debtor or the Operating Subsidiaries. In settlement of any claims against the Debtor in the form of an executed release to be provided thereto, the Class 8 Interest Holder’s may receive, only
in exchange for a formal release against the Debtor and all the Co-Proponents of such parties potential claims as a creditor and not on account of their status as a shareholder, two VTEC Warrant Units for each ten dollars ($10.00) invested in
the Debtor’s Preferred Stock and one Operating Subsidiary Warrant Unit in each Operating Subsidiary for each twenty dollars ($20.00) invested in the Debtor’s Preferred Stock. 

5.10 Class 9: Common Stock Equity Interest
Claims. All of Class 9 Equity Interest Holder’s Claims for Old Common Stock of Debtor shall be canceled by operation of this Plan. Therefore, the Class 9 Equity Interest Holders shall retain none of their Old Common Stock or any other
interests in the Debtor, the Reorganized Debtor or any of the Operating Subsidiaries.

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5.11      		
Disputed Claims And Interests.

	
	 
	 	
(a) The Debtor or the Reorganized Debtor and its attorneys may file on or before
ninety (90) days from the Effective Date of the Plan:

	
	 

	
(1)      	
	
an objection to any claim;

	
	
   

	
(2)      	
	
a motion to determine the extent, priority, or amount of any secured or other claim; or

	
	
   

	
(3)      	
	
a complaint to determine the validity, priority or extent of any lien or other interest in property of the Debtor's estate.

	
	 

     Copies of responsive pleadings to all such objections, motions, or complaints must be served upon the Reorganized Debtor's attorney, Mark Giunta, Esq., or any successor attorney for the Reorganized Debtor.

5.11 Treatment of Objections. Where objections are made to any claim or to any motions or proceedings filed in regard to any lien, claim, or privilege, any payments or distributions of securities that are due in accordance with
the Plan shall be held in trust by the Reorganized Debtor, subject to the Bankruptcy Court's jurisdiction, in an interest-bearing or escrow account
or accounts in Phoenix, Arizona, which account or accounts shall be federally insured (in the event of a distribution of a cash payment) and segregated unless otherwise stated herein or, in the alternative, one or more of the following will be
provided:

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(a)      	
	
a letter of credit or other bond; or

	
	
   

	
(b)      	
	
certificates of deposit or other security satisfactory to the Court to assure
the payment of the claim.

	
	
 
	
 
	
(c)
	
Within thirty (30) days after entry of a final, non-appealable order
resolving any disputed claim, lien or privilege, payment, including accrued interest, or securities shall be distributed to the claimant (subject to the terms of the Plan) or any other entity entitled to distribution in accordance with the
Bankruptcy Court's order.

5.12 Penalty Claims. No creditor, whether secured, unsecured, priority, or non-priority, shall be entitled to any fine, penalty, exemplary or punitive damages, late charges, default interest, or any other monetary charge
relating to or arising from any act or omission by the Debtor, and any claim for such sums shall be deemed disallowed, whether or not a specific objection to the allowance of such sums is filed. Creditors with allowed, secured claims shall be
entitled to reasonable attorneys' fees and interest at a non-default rate, subject to the limitations of Section 506 of the Bankruptcy Code.

5.13 Unclaimed Distributions. All distributions of money or securities under the Plan which are returned by the Post Office undelivered or which cannot be delivered due to the distributee's failure to provide the Reorganized
Debtor with a current address will be retained by the Reorganized Debtor in trust in a federally insured bank (in the event of a distribution of a cash payment) or by the Reorganized Debtor as pertains to all classes except Class 7 and or by the
Creditors’ Trustee in the case of a Class 7 distribution. After the expiration of six (6) months from the date of the first attempted distribution, any unclaimed securities and all future distributions will vest in the Reorganized Debtor or the
Creditor’s Trust, as the case may be, free of any claim of the distributee. The Creditors’ Trust will open a securities account and any such
unclaimed securities will be deposited into this account for the benefit of the Creditors’ Trust. The Trustee shall have the authority to sell such securities and use the proceeds for the benefit of the Creditors’ Trust.

	
- 19 -

 

	

ARTICLE VI

POST CONFIRMATION MANAGEMENT

OF THE REORGANIZED DEBTOR

6.1  The Board of Directors and Corporate Officers. Notwithstanding the issuance of securities pursuant to this Plan, some or all of which may give full voting rights to holders of those securities, on the Confirmation Date the
Board of Directors of the Debtor will change to the individuals designated below and the initial Board of Directors of the Reorganized Debtor shall also consist of those persons designated below. If a director, designated as a member of the initial
Board of Directors of the Reorganized Debtor, is unable to complete his tenure, the remaining directors shall appoint a new director.

					
	
                  Name
		
 		
                        Office
		
 		
Remuneration
	
	
 
	
	
Michael S.
		
 		
Chief Executive
		
 		
$12,000 per month and $1,200
	
	
Williams
		
 		
Officer and Chairman
		
 		
per month per formed and
	
	
 
		
 		
of the Board
		
 		
active Operating Subsidiary
	
	
 
		
 		
 
		
 		
unless not on the board of such
	
	
 
		
 		
 
		
 		
entity.
	
	
 
	
	
Lanny R. Lang
		
 		
Vice President,
		
 		
$8,000 for the Debtor and $800
	
	
 
		
 		
Secretary, Treasurer
		
 		
per month per formed and
	
	
 
		
 		
and Director
		
 		
active Operating Subsidiary
	
	
 
		
 		
 
		
 		
unless not on the board of such
	
	
 
		
 		
 
		
 		
entity. 
	

     Unless Officers and Directors of the Operating Subsidiaries are elected or appointed prior to the Effective Date, the above officers and directors shall also serve as the initial officers and directors of the Operating
Subsidiaries until such entities hold their first shareholder meeting and successors are duly elected. Messrs. Williams and Lang agree to take securities for any claim
that accrues hereunder between the Confirmation Date and the Effective Date as if such amounts were additional Class 1(c) Claims. After the Effective Date if the Debtor or VTEC or an Operating Subsidiary has insufficient funds to pay such amounts,
then Williams and Lang will defer such compensation in exchange for accumulating interest on unpaid amounts at 12% or take payment in the form of securities to be issued by the Reorganized Debtor at fair market value. Williams and Lang will qualify
for employee stock option grants under VTEC’s Equity Incentive Plan at fair market value. As to the Operating Subsidiaries, after the Confirmation Date, if Williams and Lang are active in the management of the subsidiaries, they will receive
compensation commensurate with the operating of such entity including potential awards under such subsidiary’s Equity Incentive Plan.

- 20 -

6.2 Qualifications of Directors and Officers. The qualifications of the individuals who will constitute the initial Board of Directors and serve as Officers of the Debtor and the Reorganized Debtor are as set forth in an Exhibit
to the Disclosure Statement.

6.3 Compensation of Directors and Officers. The prior table shows the initial proposed annual remuneration and fees of those individuals who will be the directors and officers of the Debtor and the Reorganized Debtor,
when it is formed, anytime immediately following the Confirmation Date of the Plan. However, payment of such remuneration is subject to the ability of the Reorganized Debtor to make such payments without endangering the operating ability of the
Reorganized Debtor and ensuring the continued feasibility of the Plan. Any salaries unable to be paid will be deferred and accrue interest at 12%. There are no employment contracts between either the Debtor or the Reorganized Debtor and the proposed
officers and directors listed above.

     The Debtor and the Co-Proponents propose the adoption, upon the Effective Date, of an
“Equity Incentive Plan” covering the issuance of up to 3,000,000 shares of common stock, at fair
market value, for the officers, directors and key employees of VTEC and each of its Operating Subsidiaries. The proposed form of equity incentive plan for VTEC and each Operating Subsidiary is attached hereto as Exhibit 3. A vote to accept this Plan
shall constitute an affirmative vote in favor of the adoption of such Equity Incentive Plans and shall be deemed to be the equivalent of a shareholder vote allowing such plans to qualify as “qualified equity incentive plans” for all
purposes under the IRS Code. As a Co-proponent of this Plan, by virtue of confirmation of this Plan, VTEC shall be deemed to have voted, as the majority shareholder of each Operating Subsidiary, in favor of the adoption of such equity incentive plan
for each Operating Subsidiary.

- 21 -

     The awarding of any such options under the approved equity incentive plans shall be subject to sole discretion of the Board of Directors of each specific entity and the terms of such equity incentive plans.

     The directors of the Reorganized Debtor will also be authorized to approve reimbursement to its officers and directors for actual expenses incurred, compensation to directors for attendance at meetings of the board of
directors, and the salaries and fees for corporate officers set forth above following the Effective Date. Nevertheless, the Reorganized Debtor's initial corporate board has no plans to approve any such increased compensation for directors or
officers, other than as described in the Disclosure Statement and this Plan.

6.4 Meetings of Directors and Selection of New Directors. Following the Effective Date of this Plan, the board of directors of the Reorganized Debtor shall meet monthly for six months. The initial board of directors shall serve
until the next meeting of shareholders held pursuant to the Articles of Incorporation and/or Bylaws of the Reorganized Debtor.

ARTICLE VII

ANTICIPATED POST CONFIRMATION LITIGATION

- 22 -

     The Debtor will review the Proofs of Claims filed in this case by alleged creditors when submitted. The only contemplated post confirmation litigation by the Debtor are objections to the allowance of certain claims that
may be filed by the Debtor.

     The balance of all Causes of Action, regardless of their state of litigation, including but not exhausted by all preference and avoidance actions, fraudulent conveyance actions, potential fraudulent transfer against
MP3.com, Inc., and actions against former directors and officers, held by the Debtor will be transferred upon the Effective Date to the Creditor Trust for the benefit of unsecured creditors.

ARTICLE VIII

ACCEPTANCE AND REJECTION OF EXECUTORY CONTRACTS

     In accordance with 11 U.S.C. § 365, the Debtor hereby does not accept or assume any
executory contracts and unexpired leases except those executory contracts and unexpired leases already paid in full by the Debtor, including, if applicable, the Debtor’s Directors and Officers Liability Policy. 

     Pursuant to 11 U.S.C. § 365, the Debtor hereby rejects any and all executory contracts
and leases not already rejected except as noted elsewhere in this Article.

     Any person or entity injured by such rejection shall be deemed to hold an unsecured claim against the Debtor to the extent allowed, and, unless a prior bar date has not been established by the Court, within ten (10)
days before the initial hearing on confirmation of the Plan, must file a proof of claim for any damages resulting therefrom or be forever barred from asserting any claim. The Debtor reserves the right to apply to the Bankruptcy Court at any time
prior to confirmation of the Plan to reject any and all other contracts which are executory.

ARTICLE IX

DESCRIPTIONS OF SECURITIES TO BE ISSUED

- 23 -

IN SATISFACTION OF CLAIMS AND INTERESTS

	
9.1      		
Identification and Attributes of Securities.

	
	 
	 	
(a)      		
VTEC Securities.

	
	 
	 	 	
(1)      		
VTEC Common Shares: Each share of VTEC Common Stock shall be fully paid, non-assessable, and entitled to one vote per share.

	
	 
	 	 	
(2)      		
VTEC Warrant Unit: A VTEC Warrant Unit shall consist of six warrants to purchase newly issued common stock in the Reorganized Debtor. The warrants will be issued as a unit with a separate CUSIP number. As warrants expire or
are exercised, VTEC, in its sole option, may choose to issue a New Unit, create other combination Units or may detach the warrants. These warrants are:

	
	 
	 	 	 	
(a)      		
one “A Warrant” which will allow the holder to purchase a share of common stock for $2.00, expiring eighteen months after the Effective Date ;

	
	 
	 	 	 	
(b)      		
one “B Warrant” identical to the A Warrant;

	
	 
	 	 	 	
(c)      		
one “C Warrant” which will allow the holder to purchase a share of common stock for $3.00, expiring eighteen months after the Effective Date;

	
	 
	 	 	 	
(d)      		
one “D Warrant” identical to the C Warrant;

	
	 
	 	 	 	
(e)      		
one “E Warrant” which will allow the holder to purchase a share of common stock for $4.00, expiring eighteen months after the Effective Date;

	
	 
	 	 	 	
(f)      		
one “F Warrant” identical to the E Warrant;

	
	 
	 	 	(3)	
 Other VTEC Unit Terms. The exercise prices of the warrants in the VTEC Warrant Unit may be lowered from time to time for such

	

- 24 -

	
 	 	
 
	
 
	 	
periods as determined by the VTEC Board in its sole discretion and the expiration dates of the warrants in the VTEC Warrant Unit may be extended from time to time at the discretion of VTEC. All the warrants in the VTEC Warrant
Unit shall be subject to a Call anytime by the Reorganized Debtor but the holders would have 20 days from the mailing of the Call notice to the Warrant Holders address of record to exercise the right to purchase new common stock associated with said
warrants. The stock and warrants are immediately detachable from the Unit at the discretion of the Reorganized Debtor and may be regrouped into different Units at the option of the Reorganized Debtor. The specific exercise terms and restrictions of
the VTEC Warrant Unit may be modified at any time by the VTEC Board to maintain the most flexibility and capacity for the Reorganized Debtor to maintain the most NOL value and limit claims of any Change of Control testing event as defined in the
Code.

	
	
   
	 
	
 
	
(b)      		
Operating Subsidiary Securities

	
	
   
	 
	
 
	 	
(1)      		
Operating Subsidiary Common Shares. Each share of Operating Subsidiary Common Stock shall be fully paid, non-assessable, and entitled to one vote per share in matters pertaining to each respective Operating Subsidiary.

	
	
   
	 
	
 
	 	
(2)      		
Operating Subsidiary Warrant Unit. Each Operating Subsidiary Warrant Unit shall consist of six warrants of such subsidiary. These warrants are:

	
	
   
	 
	
 
	 	 	
(a)      		
one “A Warrant” which will allow the holder to purchase a share of common stock for $2.00, expiring eighteen months after the Effective Date ;

	
	
   
	 
	
 
	 	 	
(b)      		
one “B Warrant” identical to the A Warrant;

	
	
   
	 

- 25 -

	 	 	 	
 	
 
	 	 	 	
(c)      		
one “C Warrant” which will allow the holder to purchase a share of common stock for $3.00, expiring eighteen months after the Effective Date;

	
	 	 	 
	 	 	 	
(d)      		
one “D Warrant” identical to the C Warrant;

	
	 	 	 
	 	 	 	
(e)      		
one “E Warrant” which will allow the holder to purchase a share of common stock for $4.00, expiring eighteen months after the Effective Date;

	
	 	 	 
	 	 	 	
(f)      		
one “F Warrant” identical to the E Warrant;

	
	 	 	 
	
 	
 	
(3)      		
Other Operating Subsidiary Common Stock and Warrant Unit Terms. The exercise prices of any of the Operating Subsidiary warrants may be lowered from time to time to amounts and for periods to be established by and at the
discretion of the respective Boards of Directors of each Operating Subsidiary and the expiration dates of any of the Operating Subsidiary warrants may be extended from time to time at the discretion of the respective Boards of Directors of each
Operating Subsidiary. All the Warrants shall be subject to a Call anytime by the Operating Subsidiaries Board of Directors but in the event of any Call the holders would have 20 days from the mailing of the Call notice to exercise the right to
purchase new common stock associated with said warrants. The Operating Subsidiaries may not Call or fail to extend the Warrants without the approval of VTEC. The stock and warrants are immediately detachable from the Operating Subsidiary Units at
the discretion of the Reorganized Debtor as part of the Plan’s implementation and thereafter at the discretion of the issuing Operating Subsidiary’s Board of Directors and may be regrouped into different Units at the option of such Board
of Directors.

	
	 	 	 

- 26 -

The Operating Subsidiary Common Shares issued to Classes 1(a) and PLG
Lenders in Class 1(b) who elect Class 1(a) treatment will not be diluted in
the event of an Initial Change Of Control Acquisition Or Merger.

     (e) The Series A Senior Notes. The Series A Senior Notes will be transferable notes issued in $10 denominations. No partial notes will be issued but rounded up to the next whole $10 amount. The Series A
Notes will bear interest at 10% per annum due at maturity. The Series A Senior Notes may be prepaid at any time and mature five years after the Effective Date.

     (f) The Series B Notes. The Series B Notes will be transferable, convertible notes issued in $10 denominations. No partial notes will be issued but rounded up to the next whole $10 amount. The Series B
Notes will bear interest at 5% per annum due at maturity and the principal and accrued interest of the Series B Notes will convert into VTEC Common Shares at $.75 per share. These Series B Notes may be prepaid at any time and mature five years
after the Effective Date.

9.2 Distribution of Securities.

     The Debtor will distribute the following securities within 120 days of the Effective Date. Regardless, until such securities are issued, the claim holders receiving securities will possess all the rights and benefits of
all such securities including the right to transfer their interest in any note or security on the books of the Reorganized Debtor or any Operating Subsidiary to other holders prior to the formal distribution. The Reorganized Debtor shall require
that any such transfers shall require customary stock powers, signature guarantees, corporate or other resolutions and affidavits, legal opinions and purchase agreements prior to being effective.

     (a) Up to 500,000 VTEC Common Shares, 2,000,000 VTEC Warrant Units, both as
may be adjusted for actual shares issued, plus 100,000 Common Shares of each of the Operating
Subsidiary and 400,000 Operating Subsidiary Warrant Units shall be issued to the Class 7
Securities Pool.

- 27 -

     (b) The Debtor shall issue shares of VTEC Common Stock and certificates representing the VTEC Warrant Units to each claimant the elects to be paid on the Effective Date with securities issued under the Plan in
accordance with the proposed Plan treatment.

     (c) The Unsecured Creditors shall receive their pro rata percentage of securities from the Class 7 Securities Pool and their pro rata share of the Trust Units based on their Allowed Claims. Upon the Effective Date all
such Common Shares will be deemed fully paid and non-assessable and shall be entitled to one vote each.

     (d) Under the Plan, the Debtor will distribute securities of the Reorganized Debtor and securities of each of the Operating Subsidiaries to settle its administrative and other claims and its unsecured debts, certain
employee obligations, Aztoré’s claims and the claims of the Funding Lenders. If the Debtor increases the Funding Lender Notes by borrowing approximately $100,000 additional from Aztoré and all but approximately $133,100 of
administrative claimants elect to take Series A Senior Notes, the ownership of the Reorganized Debtor and the Operating Subsidiaries will be as shown on the chart below.

											
	
 
		
 		
 
	
	
 	
	
 
	
	
 	
	
 
	
	
 	
	

Operating
	
	
 	
	
Operating
	
	
 
		
 		

VTEC
	
	
 	
	

VTEC
	
	
 	
	

Trust
	
	
 	
	
Subsidiary
		
 	
	
Subsidiary
	
	
              Creditor Group
		
 		

Shares
	
	
 	
	

Units
	
	
 	
	

Units
	
	
 	
	
    Shares
	
	
 	
	

Units(a)
	

	
Aztoré
		
 		
2,875,000
		
 	
	
5,750,000
		
 	
	
 
	
	
 	
	
 
	
	
 	
	
 
	

	
Funding Lenders
		
 		
1,010,100
		
 	
	
4,040,400
		
 	
	
 
	
	
 	
	
63,200
		
 	
	
252,800
	
	
Post Petition Employees
		
 		
348,100
		
 	
	
576,000
		
 	
	
 
	
	
 	
	
31,000
		
 	
	
25,000
	
	
Unsecured creditors
		
 		
500,000
		
 	
	
2,000,000
		
 	
	
8,500,000
	
	
 	
	
100,000
		
 	
	
400,000
	
	
Admin claims who elect

securities

		
 		
266,800
		
 	
	
1,067,200
		
 	
	
 
	
	
 	
	
16,675
		
 	
	
66,700
	
	
VTEC
		
 		
 
	
	
 	
	
 
	
	
 	
	
 
	
	
 	
	
4,790,000
		
 	
	
 
	

	
Class 8
		
 		
 
	
	
 	
	
8,000,000
		
 	
	
 
	
	
 	
	
 
	
	
 	
	
4,000,000
	
	
 
	
	
Total common shares
		
 		
5,000,000
		
 	
	
 
	
	
 	
	
 
	
	
 	
	
5,000,000
		
 	
	
  
	

- 28 -

     This Chart does not include a representation of the Active Professionals Claimants from Class
1(a) who also shall have a priority beneficial interest in the Creditors’ Trust.

9.4 Dividends.

     No dividends have ever been paid by the Debtor. The declaration of any future cash or stock dividends will be made at the discretion of the Reorganized Debtor’s board of directors. It is anticipated that any income
received by the Reorganized Debtor or the Operating Subsidiaries will be devoted to such entities’ future operations. The Co-Proponents do not anticipate the payment of cash dividends on the Reorganized Debtor's or Operating Subsidiaries’
common stock in the foreseeable future, and any decision to pay dividends will depend on the Reorganized Debtor's or each Operating Subsidiaries’ profitability, funds legally available there for and other factors.

9.5 Transfer Agent. The registrar and transfer agent for the stock, the warrants, the Series A Senior Notes and the Series B Notes issued pursuant to the Plan will be a qualified stock transfer agent or note agent, as
required, as selected by the Board of Directors of each entity. Such Boards may also elect to have such corporation act as its own transfer, warrant and note agent without requiring any bond and such entity may change customary agency fees for
services.

9.6 SEC Reporting. The Debtor is not currently subject to the reporting requirements of the Exchange Act. VTEC and the Operating Subsidiaries expect to voluntarily subject themselves to the requirements of the Exchange Act when
they have capital available for the necessary filings. Being subject to the Exchange Act will allow VTEC and the Operating Subsidiaries to trade on the Over the Counter Bulletin Board System (the “OTC Bulletin Board) rather than on the
“Pink
Sheets.” Trading on the OTC Bulletin Board generally offers holders of securities enhanced
liquidity.

- 29 -

	
 	
 
	
9.7      		
Resale of Securities.

	
	 
	
     (a) Resales in General. In general, securities issued by a debtor in a Chapter 11reorganization to a creditor on account of a claim may be resold by such recipient without further registration under the Exchange Act or other laws, in reliance on the exemption from registration provided by the Bankruptcy Code. This exemption does
not apply to holders who are deemed “underwriters” with respect to such securities, as the term “underwriter” is defined in the Bankruptcy Code.

	

     Section 1145(b)(1) of the Bankruptcy Code provides that “except with respect to ordinary trading transactions,” an entity is an “underwriter” if such entity: (i) purchases a claim against or interest
in a debtor with a view to distribution of any security received in exchange for such claim or interest; (ii) offers to sell securities offered or sold under the Plan for the holders of such securities (except certain offers to sell fractional
interests); (iii) offers to buy securities offered or sold under the Plan from the holders of such securities if the offer to buy is made with a view to distributing such securities and the offer to buy if made under an agreement made in connection
with the Plan, with the consummation of the Plan, or with the offer or sale of securities under the Plan of reorganization; or (iv) is an issuer with respect to a reorganized debtor's securities, as the term “issuer” is used in §
2(11) of the Securities Act.

     In the context of the Plan, an “issuer” under § 2(11) of the Securities Act includes any person directly or indirectly controlling or controlled by the Debtor or any person under direct or indirect
control with the Debtor. Whether a person is an “issuer” and, therefore, an “underwriter” for purposes of § 1145(b) of the Bankruptcy Code depends upon a number of factors, including the relative size of the shareholder's
equity interest in the Debtor; the
distribution and concentration of other equity interests in the Debtor; whether the person, either alone or acting in concert with others, has a contractual or other relationship giving that person power over management policies and decisions; and
whether the person actually has such power notwithstanding the absence of formal indicia of control.

- 30 -

     Because of complex and subjective issues involved in determining issuer and underwriter status, creditors and equity interest holders are urged to consult with their attorneys concerning whether they will be able to
trade freely any securities they are to receive under the Plan. NEITHER THE DEBTOR NOR ANY OF ITS REPRESENTATIVES MAKE ANY REPRESENTATIONS AS TO WHETHER ANY SECURITIES ISSUED PURSUANT TO THE PLAN, ONCE PLACED IN THE HANDS OF RECIPIENTS UNDER THE
PLAN, MAY BE FREELY TRADED. Persons who may be underwriters must either register the securities under the Securities Act in connection with a resale or use an applicable exemption from registration.

     The Reorganized Debtor is not obligated to register securities issued pursuant to the Plan or to assist holders of such securities in establishing an exemption from registration. Accordingly, any entity becoming a
holder of such securities who is determined to be an underwriter may be able to dispose of the securities only in limited circumstances.

     If the Reorganized Debtor has reason to believe that a recipient of its securities pursuant to the Plan may be an underwriter, the Reorganized Debtor may require from such recipient a statement that the recipient is
aware of Section 1145 of the Bankruptcy Code and the requirements of the Securities Act regarding resale of those securities and that those securities held by such recipient will be sold in compliance with the Securities Act.

     (b) State “Blue Sky” Laws. State laws affecting resales of securities issued in
connection with bankruptcy reorganizations may vary. Those who become holders of securities
issued pursuant to the Plan should consult with their attorneys concerning the applicability of any
state law affecting resales of such securities.

- 31 -

     (c) Listing and Trading. IT IS ADVISABLE FOR EACH RECIPIENT OF SECURITIES ISSUED PURSUANT TO THE PLAN TO CONSULT INDEPENDENT COUNSEL PRIOR TO SELLING THOSE SECURITIES. ALL CREDITORS AND EQUITY HOLDERS ARE ALSO
URGED TO CONSULT COUNSEL REGARDING TAX CONSEQUENCES OF THE PLAN AND, IN PARTICULAR, ANY TAX CONSEQUENCES OF RECEIVING SECURITIES UNDER THE PLAN. The securities issued under the Plan will only trade if the Reorganized Debtor or the Operating
Subsidiaries apply with a member of the National Association of Securities Dealers. The Debtor believes that the proposed management of the Reorganized Debtor and the Operating Subsidiaries will be able to attract a sponsoring broker-dealer but such
sponsorship will require audits of each entity and registration under the Exchange Act. Both of these activities require capital investment and there is no assurance that such additional capital will be available.

     (d) Restrictions related to the maintenance of NOL’s. There are various rules
limiting the maintenance of the Reorganized Debtor’s NOL’s if there are changes of control of the Reorganized Debtor. All Shares and Warrants issued by the Reorganized Debtor will have a legend restricting the ability of any shareholder or
shareholder affiliate from acquiring more than 4.99% of the Reorganized Debtor’s Stock or Warrants without the Reorganized Debtor’s approval. There are no NOL restrictions on Holders of Operating Subsidiaries shares or warrants. Holders of
less than 4.99% of the Reorganized Debtor may sell their stock without impact as long as the buyer of such stock owns after the acquisition less than 4.99% of the
Reorganized Debtor. In the event a holder accumulates more than 4.99% this sale will be void.
In addition, any warrants to be issued that would violate the NOL rules will be void.

- 32 -

     (e) Timing of Reorganized Debtor Warrant Exercise. When a Holder
exercises their VTEC Warrants, whether voluntarily or in response to a Call, such Warrants will be accumulated and exercised at the convenience of the Reorganized Debtor, but not less than monthly, to avoid or minimize multiple “change testing
dates” which could negatively impact the maintenance of the NOL’s.

ARTICLE X

POST CONFIRMATION BUSINESS OPERATIONS

     After the Effective Date, the Reorganized Debtor will continue its business through the Operating Subsidiaries and manage its affairs without supervision by the Bankruptcy Court except as expressly set forth herein, and
it may enter into agreements to transfer, convey, encumber, use and lease any and all of its assets.

ARTICLE XI

OWNERSHIP OF THE DEBTOR’S ASSETS AND CAUSES OF ACTION 

11.1 The Assets. Excluding the Causes of Action and the Causes of Action Proceeds, as of the Effective Date of the Plan, the
Reorganized Debtor and the Operating Subsidiaries shall retain and be vested with ownership of all property of the Debtor's Chapter 11 estate, as defined in 11 U.S.C. § 541, and the Reorganized Debtor shall own all such property free and clear
of all liens, claims and interests of any person or entity, except as specifically provided in the Plan or the order confirming the Plan. Not withstanding any statement in this section, all control of, and any benefit arising from, a preference
avoidance action against Axient shall be retained and vested with the Debtor.

11.2 The Causes of Action. All the Causes of Action and all the Causes of Action Proceeds
shall be conveyed to the Creditors’ Trust.

- 33 -

	
 
	
ARTICLE XII

THE CREDITOR’S TRUST

12.1  Purpose of the Creditor’s Trust. The purpose of the Creditor’s Trust is to marshal, maintain, administer, pursue, collect, settle, dispose of and disburse the Trust Property for the benefit of the holders of the
Active Professionals Claims included in Class 1(a) and the Allowed Unsecured Claims under Class 7.

12.2 Beneficiaries of Creditor’s Trust. The Active Professionals and the holders of Allowed Unsecured Claims under Class 7 shall be the beneficiaries of the Creditor’s Trust until the claims of the Active Professionals
and all the holders of all allowed claims under Class 7 shall be paid. The Claims of the Active Professionals shall be paid with priority and in full by the Creditors’ Trust prior to any payment of the allowed claims under Class 7.

12.3 Appointment by Court Order. In the Confirmation Order, the Creditor’s Trustee will be appointed and will be bound to perform as required by the Plan, provided, however, that the appointment of the Creditor’s
Trustee will be subject to the Creditor’s Trustee delivering a bond in a reasonable amount to be determined by the Court.

12.4 Termination of the Unsecured Creditors Committee and Appointment of Creditor’s Trust Trustee and operation of the Creditors’ Trust.

     (a) Prior to the Effective Date of the Plan, the Debtor shall select the Creditor’s Trustee, which Creditor’s Trustee shall be the subject to the approval of the Committee and Debtor shall submit an
application for appointment of the Creditor’s Trustee to the Court. The Debtor shall send a copy of said application to all unsecured creditors and said creditors shall have ten days following service to object to the Application and to submit
additional names to be considered by the Court. Thereafter, the Court may select and appoint the Creditor’s Trustee.

     (b) On the Effective Date or upon the appointment of the Creditor’s Trustee, whichever is later to occur, the Unsecured Creditors Committee will terminate.

     (c) Termination Events. The authority of the Creditor’s Trustee will be effective as soon as the Creditor’s Trustee is appointed and will remain in full force and effect until:

- 34 -

	
 	
 
	
(1)      	
	
payment in full of all the claims of the Active Professionals and all the Trust Unit holders; or

	
	
   

	
(2)      	
	
the liquidation of all Trust Property and distribution of all Trust Property proceeds; or

	
	
   

	
(3)      	
	
the determination by the Creditor’s Trustee in his reasonable business judgment that no further action should be taken with regard to the remaining Trust Property and that no additional distributions will be made

	
	 

     (d) Termination of the Trust. Upon any of the above Termination Events, the Creditor’s Trustee shall file with the Court a “Notice of Termination” (the “Notice”). The Notice shall be
mailed to all holders of Trust Units and state that such Trust Unit may file an objection to the Notice, with a copy to the Creditor’s Trustee within twenty days of filing of the Notice and then a hearing shall be set on such objections. The
Notice also shall contain an accounting of the Creditor’s Trust and a summary of action taken by the Creditor’s Trustee to dispose of the Trust Property and the results obtained. The Notice shall certify that the terms of this provision
have been satisfied in full and unless an objection is received from a party in interest, the duties and responsibilities of the Creditor’s Trustee shall terminate twenty days after service of the Notice. If a party in interest objects, then
the Creditor’s Trustee’s duties and responsibilities will not terminate until the Court has so ruled following Notice and a hearing. Concurrently therewith, the Creditor’s Trustee shall be discharged from all further duties and
responsibilities in connection with the Trust Property and the holders of Trust Units. All tax returns and any filings or reports shall have been filed with the appropriate state or federal regulatory authorities and all taxes have been paid prior
to termination of the Creditors’ Trustee’s duties. Further, the service of the Creditor’s Trust under the Plan will be subject to the following:

     (e) Tenure, Removal and Replacement of Creditor’s Trustee. The
Creditor’s Trustee will serve until resignation pursuant to subsection (1) below, removal pursuant to subsection (2) below, or the completion of his or her duties;

- 35 -

	
 	
 
	
(1)      	
	
The Creditor’s Trustee may resign at any time by providing a written notice of resignation to the beneficiaries of the Creditor’s Trust and the Bankruptcy Court. Such resignation will be effective when a successor is
appointed as provided herein;

	
	
   

	
(2)      	
	
The Creditor’s Trustee may be removed for cause by Order of the Bankruptcy Court, which may be sought by any Trust Unit holder of the Creditor’s Trust, or upon a vote of greater than 50% of the outstanding Trust Units of
beneficiaries of the Creditor’s Trust without Court approval; and

	
	
   

	
(3)      	
	
In the event of a vacancy in the position of the Creditor’s Trustee, whether by removal, resignation, illness, incapacity, or death, the vacancy will be filled by the appointment of a successor Creditor’s Trustee
approved by the Bankruptcy Court after appropriate notice and hearing.

	
	 

     (f) Powers and Duties of the Creditor’s Trustee. The Creditor’s Trustee shall marshal, maintain, administer, pursue, collect, settle, dispose of, and disperse the Trust Property for the benefit of
Allowed Unsecured Claim holders of Class 7. Effective on the Effective Date, the Creditor’s Trustee will be the representative of the Estate as that term is used in Bankruptcy Code §1123(b)(3)(B) and will have the rights and powers
provided for in a Bankruptcy Code in addition to any rights and powers granted herein to pursue the Causes of Action. In his or her capacity as the representative of the Estate, the Creditor’s Trustee will be the successor in interest to the
Debtor with respect to the Causes of Action. The Creditor’s Trustee will hold all right, title and interest in and to the Causes of Action on behalf of the beneficiaries of the Creditor’s Trust and will pay from the Creditor’s Trust
all ordinary and necessary costs of protecting, preserving, investigating and pursuing the Causes of Action. The Creditor’s Trustee will administer the Creditor’s Trust, will liquidate the Causes of Action of the Creditor’s Trust, and
will make distributions from the Creditor’s Trust all in the accordance with the terms of the Plan. Unless otherwise excused or exempted from doing so by the Bankruptcy Code, the
Creditor’s Trustee will abide by all laws including tax laws and regulations,
and will prepare or cause to be prepared all local, state, or federal tax
returns, filings, and/or reports that are necessary or appropriate. The
Creditor’s Trustee shall also have the power to settle any of the Causes of
Action. That Creditor’s Trustee shall have the power to retain and employ, for
reasonable compensation and upon reasonable terms professional persons,
including but not limited to appraisers, accountants, brokers, attorneys, and
clerical assistants to assist in the administration and liquidation of the Trust
Property. The Creditor’s Trustee shall have power to borrow funds on reasonable
business terms to finance the investigation and litigation of the Causes of
Action.

- 36 -

     (g) Distribution of Proceeds. Proceeds from the liquidation of the Causes of Action shall be disbursed in the following manner and order:

	
(1)      	
	
First, to satisfy any valid loans that have been obtained by the Creditor’s Trust for purposes of financing the Creditor’s Trust activities;

	
	
   

	
(2)      	
	
Second, to pay all costs and expenses related to the care and maintenance of the Trust Property, including but not limited to, the expenses of the Creditor’s Trust (including the fees and expenses of the Creditor’s
Trustee and his or her professionals) and the expenses related to prosecution of the Causes of Action and to pay the Active Professionals Claimants included in Class 1(a) on a pro-rata basis in full for remaining fees and costs owed as of the
Effective Date. All unpaid fees and costs of the Active Professionals, any fees and costs of the Active Professonals incurred post- Effective Date and all costs and expenses of the Creditor’s Trustee and his or her professionals shall have
administrative priority pursuant to 11 U.S.C. section 507 and 503(b) over all other obligations of the Creditor’s Trust.

	
	
   

	
(3)      	
	
Third, to establish and fund a reserve account of no less than $50,000 to provide for future expenses of the Creditor’s Trust (the initial reserve
account shall be established by the conveyance of $50,000 from Causes of Action Proceeds free and clear of liens by the Debtor to the Creditor’s Trust on the Effective Date);

	
	 

- 37 -

	
   

	
(4)      	
	
Fourth, to pay holders of Trust Units on a pro-rata basis with any amounts attributable to an unsecured claim that is still a Disputed Claim as of the date of the distribution being set aside in a separate interest bearing account
pending determination by the Court as to whether or not the Claim is an Allowed Unsecured Claim.

	
	
   

     (h) Compensation of the Creditor’s Trustee. The Creditor’s Trustee shall be compensated on an hourly basis and shall not receive compensation until such time as the Creditor’s Trustee files with
the Court a written application requesting compensation which includes, at a minimum, a written detailed time statement setting out each task performed and the amount of time spent for each task as well as quarterly reports discussed below. When
said application is filed, the Creditor’s Trustee shall send notice to all remaining Trust Unit holders of the Creditor’s Trust. Thereafter, all parties will have fifteen days from service of the notice to object to compensation
requested.

     (i) Reporting Requirements. Beginning with a date which is 90 days after the effective date, and continuing quarterly thereafter until the final distribution under the Creditor’s Trust, the Creditor’s
Trustee will provide written reports to those Trust Unit holders who request special notice from the Creditor’s Trustee on or after the Effective Date. The reports will provide information on collections and disbursements, administrative costs,
settlements, and the Creditor’s Trustee’s ongoing efforts to administer the Trust Property.

     (j) Limitation on Liability. Subject to applicable law, the Creditor’s Trustee will not be liable for any act he or she may do or omit to do as Creditor’s Trustee hereunder while acting in good faith
and in the exercise of his or her reasonable business judgment; nor will the Creditor’s Trustee be liable in any event except for his or her own gross negligence or willful fraud or willful misconduct. The foregoing limitation on liability also
will apply to any person,
including professionals, employed by the Creditor’s Trustee and acting on behalf of the Creditor’s Trustee in the fulfillment of the Creditor’s Trustee’s duties hereunder.

- 38 -

     (k) Transfer of Trust Property to the Creditor’s Trust. Except as otherwise provided in the Plan, title to the Trust Property, including the Causes of Action and the $50,000 from the Causes of Action
Proceeds, will pass to the Creditor Trust on the Effective Date free and clear of all claims and equity interest in accordance with Bankruptcy Code §1141. Note that no other Causes of Action Proceeds, other than the $50,000 described
herein, shall be transferred by the Debtor to the Creditor’s Trust. The Creditor’s Trustee will pay or otherwise make distributions on account of the Active Professional’s pro rata claim amounts and thereafter the Trust Unit holders
in accordance with the terms of the Plan.

     (l) Effect of Transfer. For federal and applicable state income tax purposes, the transfer of the Trust Property to the Creditor’s Trust will be a disposition of the Trust Property directly to and for the
benefit of the beneficiaries of the Creditor’s Trust in partial satisfaction of their claims, immediately followed by a deemed contribution of the Trust Property by the beneficiaries to the Creditor’s Trust. The beneficiaries will be
treated as the grantors and deemed owners of the Creditor’s Trust.

     (m) Preservation of Debtor’s Claims, Demands and Causes of Action. All claims and Causes of Action of any kind or nature whatsoever held by, through or on behalf of the Debtor and/or its Estate against any
other person, including, but not limited to, all Avoidance Actions, and all claims or Causes of Action arising before the Confirmation Date which has not been resolved or disposed of prior to the Confirmation Date are preserved in full for the
benefit of the Creditor’s Trust. The Creditors’ Trust shall be entitled to name the Reorganized Debtor or the Debtor as a nominal party to any claim but shall provide indemnification for any liability that may arise form such action
pursuant to a formal agreement to be executed with the RLOC agreement.

     (n) Further Documentation. Within sixty (60) days of Confirmation, the Debtor shall execute any and all further documents and instruments which may be reasonably required to
establish the Creditor’s Trust and to assist the Creditor’s Trustee in his or
her responsibilities and upon the terms set forth herein.

- 39 -

     (o) Schedule of Distributions. Distributions shall be made to the Trust Unit holders on semi-annual distribution dates to be determined by the Creditor’s Trustee, except that no distribution shall be
necessary when, in the Creditor’s Trustee’s discretion, the Creditor’s Trustee determines that insufficient funds exist in the accounts considering the likely costs and expenses which the Creditor’s Trust is likely to incur and
the likely income available to the Creditor’s Trust for the reasonable future.

     (p) Return Distributions. All distributions to Class 7, which are returned by the United States Post Office undelivered, or, which cannot be delivered due to lack of a current address will be retained by the
Creditor’s Trustee for said distributee. After the expiration of six (6) months from the date of the first attempted distribution, any unclaimed securities and all future distributions will vest in the Creditor’s Trust, free of any claim
of the distributee. The Creditors’ Trust will open a securities account and any such unclaimed securities will be deposited into this account for the benefit of the Creditors’ Trust. The Trustee shall have the authority to sell such
securities and use the proceeds for the benefit of the Creditors’ Trust or the Creditors’ Trust may distribute the securities if it bears all transfer fees.

	
12.5      		
Further Obligation of Debtor and the Reorganized Debtor.

	

     (a) Access to Documents. Upon Confirmation, the Reorganized Debtor and will be
in possession of various documents and information that may be needed by the Creditor’s Trust for purposes of investigating and pursuing the Causes of Action. Among other things, Debtor has documentation and information containing information
about or related to accounts receivable, accounts payable, payments to vendors and other third parties that took place within one year preceding the following bankruptcy, employee agreements, equipment leases, equipment purchase agreements, vendor
agreements, investigative reports, demand letters, stockholder agreements, due diligence files, marketing agreements, ledgers, invoices, financial
statements, corporate records, stock bond offering documents, stock and bond purchase agreements, loan documents, security agreements, license agreements, etc.

- 40 -

     (b) Storage of Documents. The Reorganized Debtor agrees to store all such documents for at least two years at their business location and to maintain all of Debtor’s and the Estate’s computerized
records including all accounting information until Creditor’s Trust is terminated at no cost to the Creditor’s Trust. All accounting information and other computerized records of the Debtor and the Estate shall be “backed up” by
the Reorganized Debtor. The Reorganized Debtor shall provide Creditor’s Trustee, the Trustee’s representatives and professionals with liberal access to all such documentation and information at no cost to the Creditor’s Trust.
However, the Reorganized Debtor may elect to transfer all computerized records of the Debtor and the Estate onto a segregated computer system to which Creditor’s Trustee, the Trustee’s representative and professionals shall be given
liberal access during regular business hours. The Creditor’s Trustee, the Trustee’s representatives and professionals may make such other arrangements with the Reorganized Debtor for the maintenance and access of documents and information
as may be reasonably agreed to between the parties. Two years after the Effective Date, the Reorganized Debtor may notify the Creditor’s Trustee, via written notice, of its intent to dispose of any of the documents. The Creditor’s Trustee
shall have thirty days from receipt of such notice to notify the Reorganized Debtor of any documents that the Creditor’s Trustee would like transferred to a different storage site. Upon receipt of such notice, the Reorganized Debtor and the
Creditor’s Trustee shall cooperate in effectuating such transfer in a manner, which will preserve the integrity of the documents and the validity of such documentation for use in pursuit of any of the Causes of Action. Any and all of the
above-referenced documentation information may be copied at the request of Creditor’s Trustee or the Trustee’s representatives or professionals and such cost of $.10 per copy will be borne by the Creditors’ Trust. Any research
assistance provided by the Reorganized Debtor exceeding a cumulative total of 100 hours will be billed to the Creditors’ Trust at $100 per hour.

- 41 -

     (c) Audit and Work paper access. If the Reorganized Debtor has audits performed, the Reorganized Debtor will request its auditors provide the Creditors’ Trustee access to such audits and all of
auditor’s work papers with backup documents within ten days of receipt of a final audit. Further, the Reorganized Debtor agrees to request that its auditors to provide copies of all work papers and underlying documentation for the audits to
Creditor’s Trustee, Trustee’s representatives and professionals. The Creditors’ Trust shall pay the extra cost of such copies, documentation or delivery charged to the Reorganized Debtor by the auditors.

     (d) Funding of the Creditor Trust provided by the Reorganized Debtor. The Debtor is conveying to the Creditor’s Trust on the Effective Date $50,000 from the Causes of Action Proceeds free and clear of
any liens or encumbrances to operate the Creditors Trust.

     Any lien that the NVL lenders, Navedge or the Reorganized Debtor or their successors, have in any of the Causes of Action or Causes of the Action Proceeds are released on the Effective Date of the Plan.

ARTICLE XIII

CONTINUATION AND TERMINATION OF SECURITY INTERESTS

     Unless otherwise provided in the Plan or in the Final Order, all creditors possessing
allowed, secured claims shall retain their liens on any of their collateral the Reorganized Debtor acquires to secure payment of all cash or other property to be distributed to them pursuant to the terms of the Plan. Such liens on the Reorganized
Debtor's property shall be deemed relinquished and reconveyed to the Reorganized Debtor upon the payment to the holders of such liens of all money, property or securities due them in satisfaction of their allowed, secured claims pursuant to the
terms of the Plan.

     Moreover, once any lien is deemed relinquished and reconveyed to the Reorganized Debtor pursuant to the terms of the Plan, the creditor who had claimed such lien shall immediately deliver to the Reorganized Debtor all
documents, properly signed and notarized,
needed to document the release of the lien according to any applicable state or federal law. If the required documentation is not supplied within one (1) week after demand there for has been made, the Reorganized Debtor may seek an order from
the Bankruptcy Court enforcing the lien release provisions of this Plan or entry of an order declaring the lien to be released or void.

- 42 -

     Except as stated previously in this Article, all security interests and liens of any kind in any property the Reorganized Debtor acquires under the Plan shall terminate and shall be deemed to have terminated upon the
Effective Date of the Plan

	

ARTICLE XIV

INSURANCE

     The Reorganized Debtor shall maintain insurance on all of its and its subsidiaries' tangible personal and real property in an amount not less than the fair market value of that property and shall keep its and its
subsidiaries' property in good repair, reasonable wear and tear excepted.

ARTICLE XV

SATISFACTION OF CLAIMS AND INTERESTS

     All classes of allowed claims and allowed interests shall receive the distributions set forth herein on account of and in complete satisfaction of those allowed claims and interests. Without limiting the foregoing, upon
the Effective Date of the Plan, each holder (and each successor of a holder) of an Allowed Claim or an Allowed Interest shall be deemed to have waived, relinquished and released any and all of its rights and claims against the Debtor and the
Reorganized Debtor, except as provided in the Plan or the Final Order. The Creditor’s Trust, the Debtor’s note holders and the Debtor’s shareholders retain their rights, if any, to pursue claims and causes of action against the
Debtor’s directors, officers and employees, non Debtor third parties and Debtor’s Directors and Officers Insurance.

- 43 -

	
 
	

ARTICLE XVI

BINDING NATURE OF THE PLAN

     Upon the entry of the Order Confirming the Plan, the Plan shall bind the Debtor, the Reorganized Debtor, all entities that are to acquire any property under the Plan, all creditors, and all equity security holders,
whether or not their claims and interests are impaired under the Plan and whether or not they have accepted the Plan, as determined by § 1141(a) of the Bankruptcy Code.

     This means, in part, that, except as provided by an express order of the Bankruptcy Court or pursuant to the terms of the Plan or the Order Confirming the Plan, all judicial, administrative or other actions or
proceedings pending against the Debtor or arising out of claims accrued prior to the confirmation of the Plan shall be permanently enjoined.

ARTICLE XVII

TERMINATION OF THE AUTOMATIC STAY AND DISCHARGE

     The automatic stay imposed by 11 U.S.C. § 362(a) shall terminate when the Final Order
becomes non-appealable. Pursuant to Section 1141(a) of the Bankruptcy Code, the entry of the Final Order shall permanently bar the filing and asserting of any claims against the Debtor and the Reorganized Debtor which arose or relate to the period
of time prior to the date of entry of that order, except as provided in the Plan or the Order Confirming the Plan. The Creditor’s Trust, the Debtor’s convertible note holders and the Debtor’s shareholders retain their rights, if any,
to pursue claims and causes of action against the Debtor’s directors, officers and employees, non Debtor third parties and Debtor’s D&O Insurance.

	

ARTICLE XVIII

IMPLEMENTATION OF THE PLAN.

The Plan will be implemented, in part, as follows:

- 44 -

18.1 Formation of the required entities. No later than immediately prior to the Effective Date, VTEC shall be designated as the Reorganized Debtor with the Directors specified in Article VI. The Debtor, at its option shall take actions
to form or acquire the Operating Subsidiaries, by purchasing shares of common stock at either par value or the amount necessary to pay the legal fees and stock issuance fees of formation. Any funding required to form the Operating Subsidiaries or
VTEC shall be provided by Aztoré in the form of additional PLG loans or other Funding Lenders in the form of additional PLG or NVLG loans. The Debtor, at its option, can incorporate in any state. The most likely states the Debtor will select
are either Nevada or Arizona. The Debtor is authorized to file Articles of Incorporation authorizing up to 200,000,000 common shares and 25,000,000 undesignated preferred.

18.2 Merger. This Plan provides for the reorganization of Debtor through a merger of the Debtor with VTEC. VTEC, incorporated in Nevada, will be the survivor in the merger. The form of merger document is attached as Exhibit 1. VTEC
will operate as a holding company. All assets and rights of the Debtor shall be transferred to the appropriate entity in accordance with the Plan. After all liabilities and claims are settled and all assets transferred, the Plan implemented and the
Articles of Merger filed, the Debtor shall be dissolved in accordance with Arizona law.

18.3 Election of Directors of the Operating Subsidiaries. The Directors of the Debtor or the Reorganized Debtor will vote to elect the Officers and Directors of each of the Operating Subsidiaries. Unless determined otherwise by the
VTEC Board of Directors, the Officers and Directors of each Operating Subsidiary will be identical to the VTEC Officers and Directors until the first shareholders meeting of each Operating Subsidiary, at which time new officers and directors will be
elected.

- 45 -

18.4 Licensing of the Visitalk Rights. Each Operating Subsidiary shall, in exchange for an Operating License from the Debtor to each Operating Subsidiary for its Visitalk line of business and related rights, issue VTEC 5,000,000 or
more as required for rounding shares of Operating Subsidiary Common Stock and sufficient Operating Subsidiary Warranty Units to allow for the Plan Implementation.

18.5 Create an Employee Equity Incentive Plan. The Board of Directors of each entity created under the Plan will be considered to have adopted an employee Equity Incentive Plan for covering up to 3,000,000 shares of common stock.
Acceptance of the Plan is deemed the equivalent of a stockholder vote in favor of the employee Equity Incentive Plan. The form of employee Equity Incentive Plan is attached as Exhibit 3 hereto.

18.6 The Board of Directors of the Debtor or the Reorganized Debtor shall oversee implementation of the Plan and be fully empowered to act for the Debtor to implement the Plan. 18.7 The Debtor shall transfer all the Causes of Action and all Causes
of Action Proceeds to the Creditors’ Trust and transfer up to 500,000 VTEC Common Shares, 2,000,000 VTEC Warrant Units (both as adjusted for actual issuances under the Plan), 100,000 Operating Subsidiary Common Shares and 400,000 Operating
Subsidiary Warrant Units in each Operating Subsidiary to the Class 7 Securities Pool.

18.8 The Board of Directors of the Reorganized Debtor shall take the necessary
actions to; 

	

(a)  	
	

transfer the Assets to the Reorganized Debtor free and clear of any liens or
judgments against such assets;
	
 	
 
	
(b)      	
	
elect the officers and directors of the Operating Subsidiaries;

	
	
   

	
(c)      	
	
merge the Debtor with VTEC, its 100% owned subsidiary; and

	
	 

- 46 -

(d)    After all such implementation actions have been completed, the Debtor shall have no remaining assets and no remaining liabilities and shall be formally dissolved in accordance with Arizona law.

18.9 The Board of Directors of VTEC and the Operating Subsidiaries shall have all of the
powers granted any board of directors by applicable state or federal laws.

18.10 The Board of Directors of VTEC and the Operating Subsidiaries shall have the power to amend the Articles of Incorporation and the Bylaws of VTEC and the Operating Subsidiaries in any manner necessary to carry out the provisions of the Plan.
The board of directors shall be entitled to use and exercise all pertinent provisions of state and federal law.

18.11 To implement the issuance of the securities provided for in the Plan, the Board of Directors of VTEC and the Operating Subsidiaries shall take all necessary steps required by the Code, Federal and state laws and to perform such implementation
in a cost effective manner, the Board of Directors shall have the authority to vary, alter or revise any of the steps outlined above so long as such change does not negatively affect any of the distributions provided for by the Plan. Any fractional
shares due to the election of payment with securities shall be rounded up to the next whole share or Unit.

18.12 The Board of Directors of VTEC and the Operating Subsidiaries shall have the authority to make provision for payment of cash and/or distribution of securities to creditors as required hereby on the Effective Date of the Plan or as otherwise
provided herein.

18.13 NOL Restrictions. In order to facilitate the Debtor’s ability to preserve and utilize its NOL’s, VTEC has approved the imposition of a less than 5% limitation on the ability of certain shareholders to acquire additional
securities issued by the VTEC (the “5% Limitation”). The Certificate of Incorporation of VTEC specifies that any acquisition of Common Stock or
Warrants or other securities made in violation of the 5% Limitation will be null and void ab initio. It also will allow the Reorganized Debtor, in its sole discretion, to exempt from application of the 5% Limitation any acquisition of shares of
Common Stock (or of Warrants or other securities), so long as such acquisition will not jeopardize the Company’s ability to preserve and utilize its NOLs.

- 47 -

     It is the purpose of the 5% Limitation to facilitate the Reorganized Debtor’s ability to preserve and utilize its NOLs and to that end the Board of Directors of the Reorganized Debtor is authorized to take actions,
to the extent permitted by law and not inconsistent with the provisions of the 5% Limitation, which it deems necessary or advisable to protect the Company and the interests of holders of its equity and debt securities by maintaining the
Company’s ability to preserve and utilize its NOLs. In this regard, the Board of Directors may, to the extent permitted by law, from time to time, establish, modify, amend or rescind, by by-law or otherwise, regulations and procedures not
inconsistent with the terms of the 5% Limitation for the orderly application, administration and implementation of the provisions of the 5% Limitation.

     As a mechanism for enforcing the 5% Limitation, the Certificate of Incorporation of the Company provides that any transfer of shares of Common Stock, Warrants or other securities in violation of the 5% Limitation is
automatically null and void as to that number of shares of Common Stock or Warrants or other securities which caused the acquirer thereof (the “Purported Owner”) to exceed the 5% Limitation (the shares and/or Warrants or other securities
which cause the Purported Owner to exceed the 5% Limitation being herein referred to as the “Excess Shares”).

     The purported transfer of the Excess Shares to the Purported Owner will not be
recognized by the Company. Instead, if necessary, the Purported Owner will be instructed to
deliver the Excess Shares to, or otherwise place the Excess Shares under the control of, a trustee (the “Share Trustee”) who will proceed forthwith to sell the Excess Shares in the market to a Permitted Transferee.

- 48 -

18.14 Securities Distribution. The Board of Directors of VTEC shall have the right to distribute any securities issued under the Plan directly into an account at any insured broker-dealer. Any security recipient that desires to have
actual certificates shall pay the standard price to the Transfer Agent for the issuance of such requested physical certificate. The Reorganized Debtor may assist creditors in opening accounts to receive any securities in any reasonable way.  

18.15
NOL Legend. Certificates evidencing shares of Common Stock and the Warrant Certificates will bear the following or a substantially similar legend notifying the holder of the restrictions imposed by the 5% Limitation:  

“Pursuant
to provisions of the Certificate of Incorporation of VT Equities Corp. (the “Company”) which are designed to facilitate the Company’s ability to preserve and utilize its net operating loss carryovers for federal income tax purposes,
the transfer of the shares represented hereby to any person who would own subsequent thereto 5% or more of the Company’s outstanding common stock or other securities (as calculated pursuant to the provisions of the Certificate of Incorporation
of the Company) is restricted and will not be recognized except in certain circumstances. Copies of the applicable provisions of the Certificate of Incorporation and the regulations adopted by the Board of Directors of the Company there under will
be available for inspection at the offices of the Company, and the Company will mail a copy thereof without charge within five days after receipt of a written request for such provisions and regulations sent to the Secretary at such
address”.

 

- 49 -

18.16 Option to report as an Investment Company. The Reorganized Debtor may choose to act as an investment company if it meets the requirements under Section 6(a)2 of the Investment Company Act of 1940. The Reorganized Debtor is
authorized to take such actions to allow it to qualify for this exemption.

18.17 Percentage ownership references under the Plan. All percentage ownership amounts referenced in the Plan, except for the 5% Limitation, are for actual common stock issues and outstanding. Any potential warrant exercises are
ignored in such calculations.

18.18 Name Changes and authorized shares. VTEC or the Operating subsidiaries, without further shareholder vote are, prior to the printing of share and warrant certificates, authorized to increase their authorized shares or to change
their name to a name more reflective of their business and marketing plans.

ARTICLE XIX

MODIFICATION OF AND AMENDMENTS TO THIS PLAN

     Prior to the entry of the Final Order, the Debtor may propose amendments or modifications in accordance with 11 U.S.C. §1127(a). After confirmation, the Reorganized Debtor may amend this Plan in the manner provided
by Section 1127(b) of the Bankruptcy Code.

     The Bankruptcy Court may, at any time, so long as it does not materially or adversely affect the interests of creditors and equity interest holders, remedy defects and omissions or reconcile any inconsistencies herein
or in the Final Order as may be appropriate to effectuate this Plan.

ARTICLE XX

REMEDIES FOR DEFAULTS BY THE REORGANIZED DEBTOR

     If the Reorganized Debtor fails to comply with the terms hereof, the holders of unsecured
claims or equity interests in any class materially harmed thereby may proceed against the
Reorganized Debtor and its property to enforce this Plan, taking any action permissible under
federal or state law, in any court of competent jurisdiction.

- 50 -

     With respect to holders of liens on the Reorganized Debtor’s property, such creditors may act in accordance with any applicable and existing mortgage, deed of trust, security agreement, or other instrument
evidencing a lien or encumbrance on their collateral.

ARTICLE XXI

RETENTION OF BANKRUPTCY COURT JURISDICTION

     Following confirmation of this Plan, the Bankruptcy Court shall retain,
without limitation, jurisdiction for the following purposes and to provide any
relief the Reorganized Debtor may require to effectuate the Plan or any
modification of the Plan: 

     (a) Deciding the proper classification of any claim, determining the proper
allowance for purposes of distribution of claims estimated for purposes of
voting, and resolving objections to claims.

     (b) Resolving all disputes regarding title to assets of the Reorganized
Debtor and all disputes arising under the Bankruptcy Code; 

     (c) Hearing all matters and deciding all issues regarding the prosecution
by the Debtor, the Reorganized Debtor or the Creditors’ Trust of any Causes of
Action;

	
(d)      	
	
Entering any order required to

	
	 
	 	
(1)      		
enforce the rights and powers of the Creditor’s Trustee;

	
	 
	 	
(2)      		
removal or appointment of the Creditor’s Trustee or any successor;

	
	 
	 	
(3)      		
clarify or establish the formation, matters of form, structure, operations, distribution from, or closure of the Creditors’ Trust; or

	
	 
	 	
(4)      		
clarify or approve the allowance, compensation and payment of the Creditors’ Trustee.

	
	 

- 51 -

	
 	
 
	
(e)
	
Correcting of any defect, curing any omission, or reconciling any inconsistency between this Plan and the Final Order as may be appropriate to effectuate the purposes and intent of this Plan;
	
 	
 
	
(f)      	
	
Modifying this Plan after confirmation;

	
	
   

	
(g)      	
	
Enforcing and interpreting the terms and conditions of this Plan, any securities
issued under this Plan, or any other documentation effectuating this Plan;

	

     (h)  Resolve any claims or causes of action, including any avoidance actions arising by operation of U.S.C. §§ 542 through 551, against any creditors or equity security holders held by the Debtor, the
Reorganized Debtor, the Creditor’s Trust or any creditors of the Debtor;  

     (i)  Entering any order required to enforce the
rights and powers of the Reorganized Debtor; 

     (j)  Determining any claim entitled to priority
under Section 507 of the Bankruptcy Code; and 

     (k)  Entering any order required to close the
Debtor's case.

	
ARTICLE XXII

REQUEST FOR CONFIRMATION

The Debtor and the Co-proponents requests entry of an Order confirming the Plan
pursuant to Section 1129 of the Bankruptcy Code.

RESPECTFULLY SUBMITTED this 22nd day of June, 2004.

	 	
By /s/ 015079                                                                      

Mark J. Giunta, Esq.

845 North Third Ave.

Phoenix, Arizona 85003-1408

Attorney for Debtor/Debtor-in-Possession

	
ORIGINAL AND ONE COPY of the

- 52 -

	 
	Foregoing were filed with the
    Clerk of the
	U.S. Bankruptcy Court this 22nd
    day of June, 2004.
	 
	Copy of the foregoing mailed/or
    emailed the 22nd day of June, 2004 to:
	 
	Dean M. Dinner
	Jennings, Haug & Cunningham
	2800 N. Central Avenue, Suite 1800
	Phoenix, Arizona 85004-1049
	 
	Kelly G. Black
	Jackson White Gardner Weech &
    Walker P.C.
	40 North Center, Suite 200
	Mesa, Arizona 85201
	 
	Carolyn J. Johnsen
	Edward M. Zachary
	Gallagher & Kennedy
	2575 E. Camelback Road, 11th
    floor
	Phoenix, Arizona 85016-9225
	 
	Paul S. Gerding
	Paul S. Gerding, Jr.
	Lieberman, Dodge, Gerding, Kothe
	& Anderson, Ltd.
	Phoenix Corporate Center
	3003 North Central Avenue, Suite
    1800
	Phoenix, Arizona 85012-2909
	 
	Eric E. Sagerman, Esq.
	Murphy, Sheneman, Julian & Rogers
	2049 Century Park East, Suite 2100
	Los Angeles, California 90067
	 
	Terri P. Durham, Esq.
	MP3.Com, Inc.
	4790 Eastgate Mall
	San Diego, CA 92121-1970
	 
	Richard L. Cobb
	Hank E. Pearson
	LAKE & COBB, PLC
	101 North First Avenue
	Suite 2000
	Phoenix, Arizona 85003

- 53 -

	 
	Michael D. Curran, Esq.
	Maynard Murray Cronin &
    O’Sullivan, P.L.C.
	3200 North Central Avenue, Suite
    2300
	Phoenix, Arizona 85012
	 
	Dorian Daley
	Assistant General Counsel
	Oracle Corporation
	500 Oracle Parkway
	Mail Stop 5op7
	Redwood City, CA 94065
	 
	Lawrence M. Schwab, Esq.
	Thomas M. Gaa, Esq.
	Bialson, Bergen & Schwab
	2600 El Camino Real, Suite 300
	Palo Alto, CA 94306
	 
	Christopher R. Kaup, Esq.
	Tiffany & Bosco, P.A.
	1850 North Central Ave, 5th
    Floor, VIAD Tower
	Phoenix, AZ 85004-4546
	 
	Robert Miller, Esq.
	Bryan Cave LLP
	Two North Central Ave., Suite 2200
	Phoenix, AZ 85004-4406
	 
	Arnold Reyes
	The Reyes Law Firm P.C.
	4407 Bee Cave Road, Suite 512
	Austin, TX 78746-6496
	 
	Ronald E. Warnicke, Esq.
	Warnicke & Littler, PLC
	1411 North Third Street
	Phoenix, AZ 85004
	 
	Michael R. King
	GAMMAGE & BURNHAM, P.L.C.
	Two North Central, 18th
    Floor
	Phoenix, Arizona 85004
	 
	Rick Cuellar
	United States Trustee’s Office
	P.O. Box 36170

- 54 -

	 
	Phoenix, Arizona 85067
	 
	MetroGroup
	26 Broadway, Suite 400
	New York, NY 1004
	Att: Marcus L. Arky, Esq.
	 
	Kesha M. Jennings

- 55 -Asia Leechdom Holding Corp.: Exhibit 4.2 - Filed by newsfilecorp.com

    
      Exhibit 4.2

      visitalk.com,
      Inc. Bankruptcy Plan Distribution

     

    
      
        WARRANTS IN
          VISITALK
          CAPITAL
          CORPORATION

        AND
          ITS

        OPERATING
          SUBSIDIARIES

      

    

    

      CLASSES
        1 THROUGH
        7

       

    

    Master
      Warrant Agreement and related information Booklet

     

    
      

     

    
      
        
        

      

        
        

        
          

        

      

      
        
        

      

    
     

    PLAN
      WARRANT AGREEMENT

    

    ACCEPTANCE
      AND EFFECTIVE DELIVERY REQUIRED

    

    This
      Plan
      Warrant Agreement is effective as of the Effective Date of the Second Joint
      Plan
      of Reorganization of visitalk.com, Inc. and other Co-Proponents dated June
      22,
      2004. This Plan Warrant Agreement and the Plan Warrants are only valid if a
      Warrant Holder executes a Warrant Acceptance and Effective Delivery Agreement
      before March 31, 2006; and such Warrant Acceptance and Effective Delivery
      Agreement is received by Visitalk Capital Corporation before April 15,
      2006.

     

    TABLE
      OF CONTENTS

    

      
        	 	
                
                  Page

              
	 	 
	
                
                  PLAN
                  WARRANT AGREEMENT

              	 
	 	 
	
                
                  BACKGROUND
                  AND DEFINITIONS

              	
                
                  1

              
	
                
                  ARTICLE
                  I - THE PLAN WARRANTS

              	
                
                  2

              
	
                
                  ARTICLE
                  II - EXERCISE PERIOD; REDEMPTION

              	
                
                  3

              
	
                
                  ARTICLE
                  III - ISSUANCE AND TRANSFER OF OWNERSHIP

              	
                
                  4

              
	
                
                  ARTICLE
                  IV - EXERCISE OF PLAN WARRANTS

              	
                
                  6

              
	
                
                  ARTICLE
                  V - LIMITATIONS ON EXERCISE

              	
                
                  7

              
	
                
                  ARTICLE
                  VI - RIGHTS AND DUTIES OF WARRANT AGENT

              	
                
                  8

              
	
                
                  ARTICLE
                  VII - CONTINGENT WARRANT HOLDER AGENT

              	
                
                  10

              
	
                
                  ARTICLE
                  VIII - RIGHTS AND DUTIES OF WARRANT HOLDERS

              	
                
                  11

              
	
                
                  ARTICLE
                  IX - NOTICES

              	
                
                  11

              
	
                
                  ARTICLE
                  X - MISCELLANEOUS

              	
                
                  13

              
	 	 
	
                
                  EXHIBITS
                  TO THE PLAN WARRANT AGREEMENT

              	 
	 	 
	
                
                  A
                  - ISSUERS COVERED BY THE PLAN WARRANT AGREEMENT

              	
                
                  16

              
	
                
                  B
                  - FORM OF WARRANT ACCEPTANCE AND EFFECTIVE DELIVERY
                  AGREEMENT

              	
                
                  17

              
	
                
                  C
                  - FORM OF CLAIM HOLDER OWNERSHIP SCHEDULE

              	
                
                  19

              
	
                
                  D
                  - FORM OF WARRANT CERTIFICATE OR WARRANT UNIT
                  CERTIFICATE

              	
                
                  20

              
	
                
                  E
                  - FORM OF SUBSCRIPTION
                  AND EXERCISE
                  NOTICE

              	
                
                  23

              
	
                
                  F
                  - FORM OF ELECTION TO CERTIFICATE AGREEMENT

              	
                
                  25

              
	
                
                  G
                  - FORM OF CONTINGENT AGENT AGREEMENT

              	
                
                  27

              

      

    

     

    
      
        
        

      

        
        

        
          

        

      

       

    

    PLAN
      WARRANT AGREEMENT 

    

    This
      Plan
      Warrant Agreement (the “Agreement”)
      is
      effective as of the Effective Date of the Second Joint Plan of Reorganization
      of
      visitalk.com, Inc. and other Co-Proponents dated June 22, 2004 (the
“Plan”).
      The
      Warrant Holders, as defined below, are a party to this Agreement pursuant to
      the
      operation of the Plan. However, this Agreement and the Plan Warrants, which
      are
      the subject of this Agreement, are only valid if a Warrant Holder executes
      a
“Warrant
      Acceptance and Effective Delivery Agreement”
before
      March 31, 2006 and such Warrant Acceptance and Effective Delivery Agreement
      is
      received by Visitalk Capital Corporation (“VCC”)
      before
      April 15, 2006. VCC is executing this Agreement and other related agreements
      necessary to implement this Agreement as an Issuer, as defined below, and as
      an
      agent for the other Issuers (the “Implementation
      Agent”),
      all
      of which are controlled by VCC.

     

    
      BACKGROUND
        AND DEFINITIONS 

    

    

    A.  The
      subject matter of this Agreement is the Series A through F Plan Warrants issued
      in accordance with the Plan (the “Plan
      Warrants”)
      for
      each of the companies on the listing attached hereto as Exhibit
      A
      and
      their successors (each such entity hereinafter an “Issuer”
or
      jointly “Issuers”).
      

    

    B.  Capitalized
      terms used but not otherwise defined in this Agreement have the same meaning
      as
      defined in the Plan. 

    

    C.  The
      Issuers are entities formed or authorized under the Plan, were Co-Proponents
      of
      the Plan, and, pursuant to certain exemptions provided in the Bankruptcy Code,
      are authorized to issue the Plan Warrants and, upon the exercise of the Plan
      Warrants, Shares, without registration of the Plan Warrants or Shares under
      applicable securities laws.

    

    D.  The
      term
“Share”
refers
      to one share of common stock of an applicable Issuer.

    

    E.  The
      term
“Claim”
refers
      to an allowed claim under the Plan and the term “Claim
      Holder”
is
      the
      owner of such Claim.

    

    F.  The
      maximum numbers of Plan Warrants to be issued for each Claim are specified
      in
      the Plan 

    

    G.  The
      registered holder of any Plan Warrant is hereinafter referred to as a
“Warrant
      Holder.”
      

    

    H.  The
      Issuers and the Warrant Holders desire to specify certain matters regarding
      the
      Plan Warrants. In accordance with the Plan, each Issuer will issue six series
      of
      Plan Warrants (each, a “Series”),
      designated as A Warrants, B Warrants, C Warrants, D Warrants, E Warrants and
      F
      Warrants, as further described in Article I. The term “Plan
      Warrants”
refers
      to all of the Series of Plan Warrants as a group. 

    

    I.  Each
      “Plan
      Warrant”
      entitles the Warrant Holder to purchase, subject to the terms and conditions
      set
      forth in this Plan Warrant Agreement, at any time on or after September 17,
      2004, and prior to the close of business on the Expiration Date, but not
      thereafter (unless the Plan Warrant is earlier the subject of a Call or the
      Plan
      Warrant Expiration Date is extended by the Issuer), one fully paid and
      non-assessable share of an Issuer’s common stock (“Common
      Stock”),
      or
      equivalent security of any successor thereto, at a purchase price equal to
      the
“Exercise
      Price”,
      as
      adjusted, unless lowered by the Issuer as set forth in Article I.

     

    
      
        
        

      

        1

        
          

        

      

      
        
        

      

    
     

    Plan
      Warrant Agreement 

    
      

    

     

    J.  Pursuant
      to the Plan, each Issuer will initially act as its own agent and perform the
      duties enumerated in this Agreement (the “Warrant
      Agent”)
      but
      each Issuer may determine, in their sole discretion, to engage another qualified
      person to act as its Warrant Agent to perform the duties and activities
      hereunder. Any reference to Warrant Agent refers to an individual Issuer, acting
      as its own Warrant Agent, or the appointed Warrant Agent of the Issuer, as
      the
      case may apply. 

     

    
      AGREEMENTS

    

    

    NOW,
      THEREFORE, in consideration of the above recitals, the following
      representations, warranties, covenants and conditions, and other good and
      valuable consideration, the receipt of which is acknowledged, the Warrant
      Holders, by executing the “Warrant
      Acceptance and Effective Delivery Agreement,”
a
      form
      of which is attached hereto as Exhibit
      B,
      agree
      with each Issuer as follows:

     

    
      ARTICLE
        I

      THE
        PLAN WARRANTS 

    

    

    1.1  Each
      Plan
      Warrant has a specified “Exercise
      Price,”
which
      is the amount, as adjusted from time to time as provided in Section 1.4 below,
      at which a Warrant Holder is entitled to purchase one Share from an Issuer.
      A
      Warrant Holder may exercise all or any number of a Series of Plan Warrants
      resulting in the purchase of a whole number of Shares.

    

    1.2  Initial
      Exercise prices.
      Each
      Series of Plan Warrants has an initial Exercise Price as set forth below.

    

    a)  Each
      Series A Warrant (an “A
      Warrant”)
      has an
      initial Exercise Price of $2.00. 

    

    b)  Each
      Series B Warrant (a “B
      Warrant”)
      has an
      initial Exercise Price of $2.00.

    

    c)  Each
      Series C Warrant (a “C
      Warrant”)
      has an
      initial Exercise Price of $3.00.

    

    d)  Each
      Series D Warrant (a “D
      Warrant”)
      has an
      initial Exercise Price of $3.00.

    

    e)  Each
      Series E Warrant (an “E
      Warrant”)
      has an
      initial Exercise Price of $4.00.

    

    f)  Each
      Series F Warrant (an “F
      Warrant”)
      has an
      initial Exercise Price of $4.00.

    

    1.3    
       Number
      of Plan Warrants.
      The
“Claim
      Holder Ownership Schedule”,
      attached hereto as Exhibit
      C,
      specifies, by Issuer, the number of each Series of Plan Warrants to be delivered
      to any Warrant Holder for a specified Claim under the Plan. Pursuant to the
      Plan, an Issuer, in their sole discretion, has the option of issuing the Plan
      Warrants as “Plan
      Warrant Unit.”
The
      Plan Warrants on Exhibit C are presented as Plan Warrant Units with each unit
      consisting of one Series A Warrant, one Series B Warrant, one Series C Warrant,
      one Series D Warrant, one Series E Warrant and one Series F Warrant. Pursuant
      to
      the Plan, in the future, a Plan Warrant Unit may consist of any combination
      of
      the Plan Warrants as determined by each Issuer in their sole
      discretion.

     

    
      
        
        

      

        2

        
          

        

      

      
        
        

      

    
     

    
      Plan
        Warrant Agreement 

      
        

      

       

    

    1.4    
       Adjustments
      in Number of Plan Warrants and Exercise Price.
      If,
      prior to the exercise of any Plan Warrant, an Issuer shall have effected one
      or
      more stock splits-ups, stock dividends or other increases or reductions of
      the
      number of Shares into which the Plan Warrants are exercisable without receiving
      compensation in money, services or property, then the number of Shares subject
      to a Plan Warrant may, at the sole discretion of the Issuer, (i) if a net
      increase shall have been effected in the number of outstanding Shares, be
      proportionately increased, and the cash consideration payable per share for
      the
      Exercise Price be proportionately reduced, or, (ii) if a net reduction shall
      have been effected in the number outstanding Shares, be proportionately reduced,
      and the cash consideration payable per Share for the Exercise Price be
      proportionately increased. Pursuant to the Plan, an Issuer may, in its sole
      discretion and without further shareholder approval, upon any increase or
      decrease in the number of shares of its common stock outstanding, elect to
      (i)
      keep the terms of any of its Plan Warrants outstanding unchanged, (ii)
      proportionately increase or decrease the Exercise Price and keep the number
      of
      Plan Warrants unchanged or (iii) proportionately increase or decrease the number
      of Shares issuable upon exercise of the Plan Warrants and keep the Exercise
      Price unchanged. 

    

    1.5  Discretionary
      Reduction in the Plan Warrant Exercise Price.
      An
      Issuer may, in its sole discretion and in accordance with the Plan, from
      time
      to time and, at any time, reduce
      the Exercise Price of any Plan Warrant subject to this Agreement, including
      a
      temporary reduction in the Exercise Price.

     

    
      ARTICLE
        II

      EXERCISE
        PERIOD; REDEMPTION 

       

    

    2.1  Plan
      Warrant Exercises.
      Unless
      individually extended as provided herein, the Plan Warrants will expire at
      5:00
      p.m., MST on March 17, 2006 (the “Warrant
      Expiration Date”).

    

    a)  All
      Plan
      Warrants hereunder may be exercised at any time after the Effective Date of
      this
      Agreement and prior to the Warrant Expiration Date.

    

    b)  After
      any
      Warrant Expiration Date, unless such date is extended by an Issuer and except
      as
      provided in Article VII, any unexercised Plan Warrants will be void and all
      rights of the Warrant Holders shall cease.

    

    2.2  Redemption.
      At any
      time prior to any Expiration Date, each Issuer, in its sole discretion and
      in
      accordance with the Plan, may redeem some or all of any then outstanding Plan
      Warrants for $.0001 per Plan Warrant (“Redemption
      Price”).
      In
      accordance with the Plan, an Issuer may choose to redeem all or any portion
      of a
      Series of Plan Warrants, which may be selected on a pro rata basis, by random
      lot or as otherwise fairly determined, all in the Issuer’s sole discretion. Upon
      an Issuer’s determination to redeem any Plan Warrants, such Issuer shall give
      notice (“Redemption
      Notice”)
      of its
      determination to all affected Warrant Holders and the Warrant Holders shall
      have
      the time specified in the Redemption Notice (the “Redemption
      Date”),
      which
      shall not be less than twenty (20) days from the date of such Redemption Notice,
      to exercise any Plan Warrant as provided herein. Upon expiration of the
      Redemption Date, and after expiration of the period during which limited rights
      may be granted to an agent under Article VII (the “Contingent
      Agent”),
      but
      only if one has been appointed by an Issuer as provided in Article VII, the
      Issuer shall pay the Redemption Price to the Warrant Holders. An Issuer shall
      not be required to pay any amount less than $1.00 to any Warrant Holder and
      any
      amounts less than $1.00 due to any Warrant Holder shall be retained by an
      Issuer.

     

    
      
        
        

      

        3

        
          

        

      

      
        
        

      

    
    
       

      
        Plan
          Warrant Agreement 

        
          

        

         

      

    

    2.3  Extension
      of the Warrant Expiration Date.
      An
      Issuer may, in its sole discretion and in accordance with the Plan, from time
      to
      time and, at any time, extend the Warrant Expiration Date of any Plan Warrant
      for any period of time. Notice to the Warrant Holders of Plan Warrant changes
      shall be provided in accordance with Article IX.

    

    
      ARTICLE
        III

      ISSUANCE
        AND TRANSFER OF OWNERSHIP 

       

    

    3.1    
       Form
      of Plan Warrant.
      The
      Plan Warrants may be issued in either uncertificated form (i.e., “Book
      Entry”)
      or in
      registered and certificated form, as determined pursuant to Section 3.2
      below.

    

    a)  Book
      Entry Form.
      If Plan
      Warrants are issued in uncertificated form (“Book
      Entry”),
      the
      Warrant Agent shall maintain records of the number of Plan Warrants owned by
      each registered Warrant Holder. The Warrant Agent shall report ownership
      positions to the Warrant Holders no more than sixty (60) days after the end
      of
      each calendar year or, if requested in writing by a Warrant Holder, each
      calendar quarter. The report shall indicate any transactions regarding the
      Plan
      Warrants such as exercises or transfers. The report shall be delivered by
      regular mail to the address appearing on a Warrant Agent’s records for any
      Warrant Holder. A Warrant Holder may elect delivery by e-mail or other similar
      delivery option as an alternative to regular mail. At any time an Issuer
      determines not to maintain Book Entry for the Plan Warrants, the Issuer it
      may
      certificate and deliver the warrants to the Warrant Holders at no cost to the
      Warrant Holders for the certification.

    

    b)  Certificated
      Form.
      If in
      certificated form, the warrant certificates (the “Warrant
      Certificates”)
      shall
      be substantially in the form attached hereto as Exhibit
      D.
      Warrant
      Certificates shall be signed by, or shall bear the facsimile signature of an
      Executive Officer of each Issuer and shall bear the Issuer’s corporate seal or a
      facsimile of the Issuer’s corporate seal. If any person, whose facsimile
      signature has been placed on any Warrant Certificate as the signature of an
      officer of an Issuer, shall have ceased to be an officer before the Warrant
      Certificate is countersigned, issued and delivered, the Warrant Certificate
      shall be countersigned, issued and delivered with the same effect as if the
      officer had not ceased to be an officer. Any Warrant Certificate may be signed
      by, or made to bear the facsimile signature of, any person who at the actual
      date of the preparation of the Warrant Certificate shall be a proper officer
      of
      an Issuer to sign the Warrant Certificate even though such person was not an
      officer upon the date of this Agreement. If a Warrant Agent other than the
      Issuer is appointed, and Warrant Certificates are issued after the appointment,
      Warrant Certificates shall be manually countersigned by the Warrant Agent and
      shall not be valid for any purposes unless so countersigned. The Warrant Agent
      hereby is authorized to countersign any Warrant Certificate that is properly
      issued and deliver the same to, or in accordance with the properly documented
      and verified instruction of, any registered Warrant Holder.

     

    
      
        
        

      

        4

        
          

        

      

      
        
        

      

    
    
      
         

        
          Plan
            Warrant Agreement 

          
            

          

           

          3.2  Delivery
            of Plan Warrant.
            The
            Warrant Holder shall select the method of delivery of the Plan Warrant,
            as set
            forth in Section 3.1b) above.

        

      

    

    

    a)  Book
      Entry Form.
      The
      Warrant Holder, by executing and delivering the “Warrant
      Acceptance and Effective Delivery Agreement,”
a
      form
      of which is attached hereto as Exhibit
      B,
      hereby
      elects to have all the Plan Warrants issued in Book Entry form. By executing
      only the Warrant Acceptance and Effective Delivery Agreement and thereby
      electing Book Entry for the Plan Warrants, the Warrant Holders also elect to
      have a Contingent Agent act for them under certain limited circumstances as
      set
      forth in Article VII.

    

    b)  Certificated
      Form.
      If the
      Warrant holder desires to receive physical delivery of the Plan Warrants (i.e.
      certificated form), such Warrant Holder must, in
      addition
      to
      executing the Warrant Acceptance and Effective Delivery Agreement as set forth
      in Section 3.2a) above, also execute and deliver the “Election
      to Certificate Agreement”
as
      attached hereto as Exhibit
      F.
      The
      Plan
      Warrants requested in certificated form will be issued in Units consisting
      of
      one A Warrant, one B Warrant, one C Warrant, one D Warrant, one E Warrant and
      one F Warrant for each Issuer. To receive certificates for the Plan Warrants,
      such Warrant Holder shall remit an issuance fee set forth in the Election to
      Certificate Agreement. Warrant
      Holders electing Plan Warrants in certificated form also waive any of the rights
      and benefits to having the Contingent Agent act for them under certain limited
      circumstances as set forth in Article VII.

    

    3.3  Transfer
      of Ownership.
      The
      Warrant Agent may register the transfer of any outstanding Warrant Certificate
      or any Book Entry ownership change upon the receipt of appropriate instruments
      of transfer, in a form satisfactory to both the Issuer and the Warrant Agent,
      duly executed by the Warrant Holder or a duly authorized attorney, including,
      if
      requested by the Warrant Agent, legal opinions and signature verification as
      required, in the Issuer’s sole discretion. An Assignment Form appears on the
      back of the “Form
      of Plan Warrant Certificate”
      attached hereto as Exhibit
      D.
      Upon
      any registration of transfer, either (i) a new Warrant Certificate shall be
      issued in the name of and delivered to the transferee and the surrendered
      Warrant Certificate shall be canceled or (ii) a new Book Entry shall be made
      reflecting the transfer and notice shall be given to the new Warrant Holder.
      In
      the event a certificated warrant is submitted for transfer, a customary cash
      fee
      for the transfer must accompany such Plan Warrant prior to the execution of
      the
      transfer.

    

    3.4  Mutilated
      or Missing Warrant Certificates.
      If any
      Warrant Certificate is mutilated, lost, stolen, or destroyed, an Issuer and
      the
      Warrant Agent may, on such terms as to fully indemnify them or otherwise as
      they
      may in their sole discretion impose (which shall, in the case of a mutilated
      Warrant Certificate, include the surrender thereof), and upon the receipt of
      evidence satisfactory to an Issuer and the Warrant Agent of such mutilation,
      loss, theft or destruction, issue a substitute Warrant Certificate of like
      denomination and tenor as the Warrant Certificate so mutilated, lost, stolen
      or
      destroyed. Applicants for substitute Warrant Certificates shall comply with
      such
      other reasonable regulations and pay any reasonable charges as an Issuer or
      the
      Warrant Agent may prescribe including costs of an indemnity bond, if required
      by
      an Issuer in its sole discretion.

     

    
      
        
        

      

        5

        
          

        

      

      
        
        

      

    
    
      
         

        
          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    3.5  No
      Fractional Plan Warrants or Shares.
      An
      Issuer shall not be required to issue fractions of Plan Warrants upon the
      reissue of Plan Warrants due to any adjustments as described in Section 1.4
      or
      otherwise. In lieu of issuing any fractional interest, an Issuer shall round
      up
      to the nearest full Plan Warrant. If the total Plan Warrants surrendered by
      exercise would result in the issuance of a fractional Share, an Issuer shall
      not
      be required to issue a fractional Share but rather the aggregate number of
      Shares issuable will be rounded up to the nearest full share. At an Issuer’s
      sole option, an Issuer may pay the cash value of any such fractional interest
      in
      lieu of issuing additional Shares or Plan Warrants.

     

    
      ARTICLE
        IV

      EXERCISE
        OF PLAN WARRANTS 

       

    

    4.1  Method
      of Exercise.
      Subject
      to Article V, any Plan Warrant or any multiple of Plan Warrants evidenced by
      any
      Warrant Certificate or in Book Entry form may be exercised on or before the
      Expiration Date. Plan Warrants shall be exercised by the Warrant Holder by
      either (i) surrendering to the Warrant Agent the Warrant Certificate evidencing
      the Plan Warrants with a “Subscription
      and Exercise Notice,”
a
      form
      of which is attached hereto as Exhibit
      E,
      duly
      completed and executed showing the number of Plan Warrants being exercised,
      or
      (ii) if in Book Entry form, by delivering to the Warrant Agent a Subscription
      and Exercise Notice, duly completed and executed showing the number of Book
      Entry Plan Warrants being exercised. In addition, the Warrant Holder must
      deliver to the Warrant Agent, by certified check, or other immediately available
      funds or wire transfer, in U. S. dollars (“Good
      Funds”),
      as
      the Warrant Agent may elect, payable to the order of the Issuer of such Plan
      Warrant, the Exercise Price for each Share to be purchased. Both the
      Subscription and Exercise Notice relating to a certificated Plan Warrant and
      a
      Book Entry Plan Warrants are hereinafter referred to as an “Exercise
      Notice.”
      The
      form
      of Exercise Notice may be changed from time to time and, at any time, in the
      discretion of the Issuer.

    

    4.2  Delivery
      of Shares.
      Upon
      receipt of the Exercise Notice and
      payment
      in Good Funds of the full Exercise Price for the Plan Warrants that are the
      subject to the Exercise Notice, the Warrant Agent shall requisition the issuance
      of the required Shares, and deliver such Shares in accordance with the properly
      documented instructions of the Warrant Holder. The certificate for the Shares
      shall be deemed to be issued, and the person to whom the Shares are issued
      of
      record shall be deemed to have become a holder of record of the Shares, as
      of
      the date of the surrender of such properly executed Exercise Notice and payment
      of the Exercise Price in Good Funds, whichever shall last occur. If however,
      the
      books of an Issuer with respect to the Shares shall be deemed to be closed,
      the
      person to whom such Shares are issued shall be deemed to have become a record
      holder of such Shares as of the date on which such books of the Issuer shall
      next be open (whether before, on or after the Expiration Date). All Warrant
      Certificates surrendered upon exercise of Plan Warrants shall be
      canceled.

     

    
      
        
        

      

        6

        
          

        

      

      
        
        

      

    
    
      
         

        
          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    4.3  Unexercised
      Warrants.
      If less
      than all the Plan Warrants evidenced by a Warrant Certificate or Book Entry
      are
      exercised upon a single occasion, until the Expiration Date, a new Warrant
      Certificate or Book Entry for the balance of the Plan Warrants not so exercised
      shall be issued and delivered to or recorded in the Warrant Holder’s name, or in
      accordance with transfer instructions properly given by the Warrant
      Holder.

    

    4.4  Escrow.
      Upon
      the exercise, or conversion of any Plan Warrant, the Warrant Agent, if not
      the
      Issuer, shall promptly deposit the payment of the Exercise Price into an escrow
      account established by mutual agreement of an Issuer and their Warrant Agent
      at
      a federally insured commercial bank. All funds deposited in the escrow account
      will be disbursed on a weekly basis to an Issuer once such funds have been
      determined by the Warrant Agent to be collected funds. Once the funds are
      determined to be collected funds, the Warrant Agent shall take actions to cause
      the certificate(s) representing the Shares issued pursuant to the exercise
      of
      the Plan Warrants to be issued.

    

    4.5  Expenses.
      Except
      for Section 4.6, expenses incurred by the Warrant Agent while acting in the
      capacity as Warrant Agent will be paid by each Issuer. These expenses, including
      delivery of Share certificates to the shareholder, will be deducted from the
      Exercise Price submitted prior to distribution of funds to the Issuer. The
      Warrant Agent will supply a detailed account statement relating to the number
      of
      Shares exercised, names of the registered Warrant Holder(s) and the net amount
      of funds remitted will be given to the applicable Issuer with each
      payment.

    

    4.6  Fees.
      At the
      time of exercise of any Plan Warrant, any cost for Share issuance and transfer
      fee is to be paid by the Warrant Holder. In the event the Warrant Holder must
      pay such fees and fails to remit same, the Warrant Agent, if agreed to by the
      Issuer, may elect to have such fee deducted from the proceeds prior to
      distribution to an Issuer.

     

    
      ARTICLE
        V

      LIMITATIONS
        ON EXERCISE 

       

    

    5.1  Limit
      of Exercise.
      The
      Warrant Holder, together with the Warrant Holder’s “affiliates,”
as
      such term is defined in the Securities and Exchange Commission’s rules and
      regulations, shall not be entitled to exercise any Plan Warrant if, after giving
      effect to such exercise, the Warrant Holder and its Affiliates would
      beneficially own in excess of 4.99% of the outstanding Shares of an Issuer.
      For
      purposes of the foregoing calculation, the Shares beneficially owned by a
      Warrant Holder and its Affiliates or acquired by the Warrant Holder and its
      Affiliates, shall include the number of Shares issuable upon exercise of such
      Plan Warrant with respect to which the determination is being made, but shall
      exclude the number of Shares that would be issuable upon (i) exercise of the
      remaining, non-exercised portion of any Plan Warrants issued by the Issuer
      and
      beneficially owned by such Warrant Holder and its Affiliates and subject to
      a
      limitation on conversion or exercise and (ii) exercise or conversion of the
      unexercised or unconverted portion of any other securities of an Issuer subject
      to a limitation on conversion or exercise analogous to the limitation contained
      herein. Except as set forth in the preceding sentence, for purposes of this
      paragraph, beneficial ownership shall be calculated in accordance with Section
      13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
      Act”).

     

    
      
        
        

      

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          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    5.2  Warrant
      holder Representation.
      Each
      Exercise Notice executed by a Warrant Holder shall constitute a representation
      by such Warrant Holder that, after giving effect to such Exercise Notice, (i)
      such Warrant Holder will not beneficially own (as determined in accordance
      with
      this Article V) in excess of 4.99% of the outstanding Shares of an Issuer and
      (ii) the Warrant Holder will not have acquired, through exercise of such Plan
      Warrant or otherwise, a number of Shares that, when added to the number of
      Shares beneficially owned by the Warrant Holder at the beginning of the sixty
      (60) day period ending on and including the applicable date of exercise of
      such
      Plan Warrant, is in excess of 4.99% of the outstanding Shares of the Issuer
      following the exercise during the sixty (60) day period ending on and including
      the date of exercise.

    

    5.3  Shares
      Outstanding.
      For
      purposes of this Article V, in determining the number of the outstanding Shares
      of an Issuer, the Warrant Holder may rely on the number of outstanding Shares
      (i) as reflected on an Issuer’s web site or, (ii) at such time as an Issuer is a
      reporting Issuer under the Exchange Act, as reflected in an Issuer’s most recent
      annual, quarterly or current report filed pursuant to the Exchange Act, or
      (iii)
      as reflected in its most recent public announcement or other notice by an Issuer
      setting forth the number of Shares outstanding. The number of outstanding Shares
      shall be determined after giving effect to exercises of such Plan Warrant
      (including the exercise with respect to which this determination is being made)
      by the Warrant Holder.

    

    5.4  Waiver.
      An
      Issuer, in their sole discretion, may waive the ownership and exercise
      limitations imposed by this Article V in whole or in part upon receipt by the
      Warrant Holder of its undertaking, in form acceptable to an Issuer in its sole
      discretion, including if necessary legal opinions, to fully comply with all
      applicable securities law reporting requirements.

     

    
      ARTICLE
        VI

      RIGHTS
        AND DUTIES OF WARRANT AGENT 

    

    

    6.1 Third
      Party Warrant Agent.
      If an
      Issuer appoints a third party Warrant Agent, which it may do in its sole
      discretion, and such Warrant Agent accepts the appointment, such Warrant Agent
      will only accept upon the following terms and conditions, by all of which an
      Issuer and every Warrant Holder by acceptance of this Plan Warrant Agreement
      shall be bound:

    

    a)
        Statements
      contained in this Agreement and in the Warrant Certificates, if such Warrant
      Certificates are issued, shall be taken as statements of the Issuer. The Warrant
      Agent assumes no responsibility for the correctness of any of these statements
      except those that describe the Warrant Agent or any action taken or to be taken
      by the Warrant Agent.

    

    b)
        The
      Warrant Agent shall not be responsible for any failures of an Issuer to comply
      with any of an Issuer’s covenants contained in this Agreement or in the Warrant
      Certificates.

    

    c)
        The
      Warrant Agent may consult at any time with counsel satisfactory to it (who
      may
      also be counsel for its applicable Issuer) and the Warrant Agent shall incur
      no
      liability or responsibility to an Issuer or to any Warrant Holder in respect
      of
      any action taken, suffered or omitted by it hereunder in good faith and in
      accordance with the opinion or the advice of such counsel, provided the Warrant
      Agent shall have exercised reasonable care in the selection and continued
      employment of such counsel.

     

    
      
        
        

      

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          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    d)
        The
      Warrant Agent shall incur no liability or responsibility to an Issuer or to
      any
      Warrant Holder for any action taken in reliance upon any notice, resolution,
      waiver, consent, order, certificate or other paper, document or instrument
      believed by it to be genuine and to have been signed, sent or presented by
      the
      proper party or parties.

    

    e)
        An
      Issuer
      agrees to pay to the Warrant Agent reasonable compensation for all services
      rendered by the Warrant Agent in the execution of this Agreement, to reimburse
      the Warrant Agent for all expenses, taxes and governmental charges and all
      other
      charges of any kind in nature incurred by the Warrant Agent in the execution
      of
      this Agreement and to, except as a result of a Warrant Agent’s negligence or bad
      faith, indemnify the Warrant Agent and save it harmless against any and all
      liabilities, including judgments, costs and counsel fees, for this
      Agreement.

    

    f)
        The
      Warrant Agent shall be under no obligation to institute any action, suit or
      legal proceeding or to take any other action likely to involve expense unless
      an
      Issuer or one or more Warrant Holders shall furnish the Warrant Agent with
      reasonable security and indemnity for any costs and expense that may be incurred
      in connection with such action, suit or legal proceeding. However, this
      proceeding provision shall not affect the power of the Warrant Agent to take
      such action as the Warrant Agent may consider proper, whether with or without
      any such security or indemnity. All rights of action under this Agreement or
      under any of the Plan Warrants may be enforced by the Warrant Agent without
      the
      possession of any of the Warrant Certificates or the production thereof at
      any
      trial or other proceeding relative thereto, and any such action, suit or
      proceeding instituted by the Warrant Agent shall be brought in its name as
      Warrant Agent, and any recovery of judgment shall be for the ratable benefit
      of
      the Warrant Holders as their respective rights or interest may
      appear.

    

    g)
        The
      Warrant Agent and any shareholder, director, officer or employee of the Warrant
      Agent may buy, sell or deal in any of the Plan Warrants or other securities
      of
      an Issuer or become pecuniary interested in any transaction in which an Issuer
      may be interested, or contract with or lend money to an Issuer or otherwise
      act
      as fully and freely as though it were not Warrant Agent under this Agreement.
      Nothing herein shall preclude the Warrant Agent from acting in any other
      capacity for an Issuer or for any other legal entity.

    

    6.2  Successor
      Warrant Agent.
      Any
      corporation into which the Warrant Agent may be merged or converted or with
      which it may be consolidated, or any corporation resulting from any merger,
      conversion or consolidation to which the Warrant Agent shall be a party, or
      any
      corporation succeeding to the corporate trust business of the Warrant Agent,
      shall be the successor to the Warrant Agent hereunder without the execution
      or
      filing of any paper or any further act of a party or the parties hereto. In
      any
      such event or if the name of the Warrant Agent is changed, the Warrant Agent
      or
      its successor may adopt the countersignature of the original Warrant Agent
      and
      may countersign the Warrant Certificates either in the name of the predecessor
      Warrant Agent or in the name of the successor Warrant Agent.

     

    
      
        
        

      

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          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    6.3  Appointment
      of a New Warrant Agent.
      A
      Warrant Agent may resign or be discharged by the applicable Issuer from its
      duties under this Agreement, with or without cause, by one party giving notice
      in writing to the other, and by giving a date when such resignation or discharge
      shall take effect, which, unless for cause, such notice shall be sent at least
      thirty (30) days prior to the date so specified. 

    

    a)  If
      a
      Warrant Agent shall resign, be discharged or shall otherwise become incapable
      of
      acting, an Issuer may elect to act as its own Warrant Agent or shall appoint
      a
      successor to the Warrant Agent. 

    

    b)  If
      an
      Issuer fails to make such election or appointment within a period of thirty
      (30)
      days after it has been notified in writing of the resignation or incapacity
      of
      its Warrant Agent, then any Warrant Holder may apply to the Bankruptcy Court
      in
      Phoenix, Arizona, for the appointment of a successor to the Warrant Agent.
      

    

    c)  Pending
      appointment of a successor to the Warrant Agent, either by the Issuer or by
      the
      Bankruptcy Court, each Issuer shall carry out the duties of the Warrant Agent.
      After appointment, the successor Warrant Agent shall be vested with the same
      powers, rights, duties and responsibilities as if it had been originally named
      as the Warrant Agent without further act or deed and the Warrant Agent shall
      deliver and transfer to the successor Warrant Agent any property at the time
      held by it as the Warrant Agent, and execute and deliver any further assurance,
      conveyance, act or deed necessary for effecting the delivery or transfer.

    

    d)  Failure
      to give any notice provided for in this Section 6.3, shall not affect the
      legality or validity of the resignation or removal of the Warrant Agent or
      the
      appointment of the successor Warrant Agent.

     

    
      ARTICLE
        VII

      CONTINGENT
        WARRANT HOLDER AGENT 

       

    

    7.1  Contingent
      Warrant Holder Agent.
      By
      the
      execution of the Warrant Acceptance and Effective Delivery Agreement and
      electing Book Entry for the Plan Warrants, the accepting Warrant Holders elect
      also to have an additional agent act for them only under the limited
      circumstances and
      in
      the manner specified in the “Contingent
      Agent Agreement”
      attached hereto as Exhibit
      G
      (the
“Contingent
      Agent”).
      If a
      Warrant Holder executing the Warrant Acceptance and Effective Delivery
      Agreement, however, elects to receive physical delivery of the Plan Warrants
      in
      accordance with the terms of the “Election
      to Certificate Agreement”
as
      attached hereto as Exhibit
      F,
      the
      electing Warrant Holder waives any of its rights and benefits to having the
      Contingent Agent act for them pursuant to the Contingent Agent Agreement.

    

    7.2  General
      Duties of the Contingent Agent.
      In the
      event a Warrant Holder fails to exercise a Plan Warrant before an Expiration
      Date or lapse of date specified in a Redemption Notice, the Contingent Agent
      shall have the rights specified in the Contingent Agent Agreement to act for
      the
      Warrant Holder with limitations and with a duty to the Warrant Holder to remit
      any benefits pro rata to the Warrant Holders of all similarly affected Plan
      Warrants. 

     

    
      
        
        

      

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          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    7.3  Subsequent
      Termination of Contingent Agent.
      Subsequent to the execution of the Warrant Acceptance and Effective Delivery
      Agreement, any Warrant Holder may elect to terminate the Contingent Agent
      Agreement by notifying an Issuer in writing. Any such notice must be received
      before the Expiration Date of the applicable Plan Warrant. 

    

    7.4  No
      Duty to Appoint a Contingent Agent.
      An
      Issuer may elect to appoint a Contingent Agent but has no duty to do so. The
      terms of the Contingent Agent Agreement are controlling regarding all issues
      pertaining to the Contingent Agent.

    

      ARTICLE
        VIII

      RIGHTS
        AND DUTIES OF WARRANT HOLDERS 

       

      8.1  Rights
        of Warrant Holders.
        

    

    

    a)  No
      Warrant Holder, as such, shall have any rights as a shareholder of any Issuer,
      either at law or equity, and the rights of the Warrant Holders are limited
      to
      those rights expressly provided in this Agreement or in the Warrant
      Certificates, if issued. Notwithstanding any notice to the contrary, an Issuer
      and their Warrant Agent may treat the registered Warrant Holder in respect
      to
      any Warrant Certificate or Book Entry or otherwise as the absolute owner thereof
      for all purposes.

    

    b)  Except
      as
      otherwise specifically provided herein, no Warrant Holder shall be entitled
      to
      vote or receive dividends or be deemed the holder of Shares of the applicable
      Issuer for any purpose, nor shall anything contained in any Plan Warrant or
      this
      Agreement be construed to confer upon the Warrant Holder including but not
      limited to (i) any of the rights of a stockholder of an Issuer, (ii) any right
      to vote, (iii) any right to give or withhold consent to any corporate action
      (whether any reorganization, issue of stock, reclassification of stock,
      consolidation, merger, conveyance or otherwise), and (iv) any right to receive
      notice of meetings or receive dividends or subscription rights prior to the
      issuance of the Shares that the Warrant Holder is then entitled to receive
      upon
      the due exercise of any Plan Warrant. 

    

    c)  No
      Plan
      Warrant shall be construed as imposing any liabilities on any Warrant Holder
      to
      purchase any securities of an Issuer, whether such liabilities are asserted
      by
      an Issuer or by creditors of an Issuer.

    

    8.2  Taxes.
      The
      Warrant Holder will pay all taxes attributable to the Plan Warrants or the
      initial issuance of Shares upon exercise of the Plan Warrants, including any
      tax
      that may be payable with respect to any transfer involved in any issue of
      Warrant Certificates or in the issue of any certificates of Shares upon the
      exercise of any Plan Warrant in a name other than that of the Warrant
      Holder.

     

    
      ARTICLE
        IX

      NOTICES
        

       

    

    9.1  Notices
      to Warrant Holders.
      Any
      distribution, notice or demand required or authorized by this Agreement to
      be
      given or made by an Issuer or by a Warrant Agent to or on the Warrant Holder
      shall be sufficiently given or made if sent by first class mail, postage
      prepaid, addressed to the Warrant Holder at their last known address as it
      appears on the Plan Warrant registration books of the Issuer or the official
      Warrant Holder listing maintained by the Warrant Agent.

     

    
      
        
        

      

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          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    a.  Notice
      of Plan Warrant Changes.
      Except
      for an extension of the Expiration Date, which shall be effective when such
      information is a matter of public record (or upon mailing or other means of
      notification agreed to by a Warrant Holder, upon any adjustment pursuant to
      Sections 1.4 and 1.5, an Issuer within twenty (20) days thereafter will (i)
      file
      with the Warrant Agent a certificate signed by an officer of the Issuer setting
      forth the details of the adjustment, the method of calculation and the facts
      upon which the calculation is based, and (ii) provide written notice of the
      adjustments to each Warrant Holder as of the record date.

    

    b.  Notice
      of Reorganization.
      If an
      Issuer proposes to enter into any reorganization, reclassification, sale of
      substantially all of its assets, consolidation, merger, dissolution, liquidation
      or winding up, an Issuer will give notice of the fact at least twenty (20)
      days
      prior to the action to all Warrant Holders. This notice shall set forth the
      facts to indicate the effect of the action (to the extent the effect may be
      known at the date of the notice) on the Exercise Price and the kind and amount
      of the Shares or other property deliverable upon exercise of the Plan Warrants.
      

    

    c.  Failure
      to Give Notice.
      Without
      limiting the obligation of an Issuer to provide notice to each Warrant Holder,
      failure of an Issuer to give notice shall not invalidate corporate action taken
      by an Issuer.

    

    d.  Unclaimed
      Notices and Bad Addresses.
      All
      notices, mailings and distributions under the Plan which are returned by the
      Post Office undelivered or which cannot be delivered due to the failure of
      the
      Warrant Holder to provide the Issuers with a current address will be retained
      by
      the Issuer pursuant to Section 5.13 of the Plan, incorporated herein by
      reference. The Warrant Agent or the Issuer is under no obligation to continue
      notices, mailings and distributions to known undeliverable or bad
      addresses.

    

    9.2  Notices
      to Warrant Agent and Issuers.
      Any
      notice or demand authorized by this Agreement to be given or made by the Warrant
      Agent or by any Warrant Holder to or on an Issuer shall be sufficiently given
      or
      made if sent by mail, first class, certified or registered, postage prepaid,
      addressed (until another address is filed in writing by an Issuer with its
      Warrant Agent), to an Issuer’s official headquarters address. Any notice or
      demand authorized by this Agreement to be given or made by any Warrant Holder
      or
      by an Issuer to or on the Warrant Agent shall be sufficiently given or made
      if
      sent by mail, first class, certified or registered, postage prepaid, addressed
      (until another address is filed in writing by the Warrant Agent with an Issuer),
      to the Warrant Agent’s official headquarters address. 

     

    
      
        
        

      

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          Plan
            Warrant Agreement 

          
            

          

           

        

      

    

    
      ARTICLE
        X

      MISCELLANEOUS

       

    

    10.1  Reservation
      of Shares.
      For the
      purpose of enabling an Issuer to satisfy its obligations to issue Shares upon
      exercise of their Plan Warrants, Issuers will at all times reserve and keep
      available, free from preemptive rights, out of the aggregate of its authorized
      but unissued shares, the full number of Shares that may be issued upon the
      exercise of Plan Warrants. The Shares will, upon issue, be fully paid and
      non-assessable by an Issuer and free from all liens, charges and security
      interest with respect to the issue thereof.

    

    10.2  Governmental
      Restrictions.
      If any
      Shares issuable upon the exercise of a Plan Warrant require approval of any
      governmental authority, the applicable Issuer will endeavor to secure such
      approval; provided that in no event shall such Shares be issued, and an Issuer
      shall have the authority to suspend the exercise of all Plan Warrants, until
      such approval has been obtained. If any such period of suspension continues
      past
      an Expiration Date, all affected Plan Warrants, the exercise of which have
      been
      requested on or prior to the Expiration Date and which were accompanied with
      Good Funds, shall be exercisable upon the removal of such suspension until
      the
      close of business on the business day immediately following the expiration
      of
      such suspension. The Issuer or the Warrant Agent shall hold any funds received
      during such suspension in escrow in a segregated and specified account. In
      the
      event a governmental authority requires the modification of this Agreement,
      any
      effected Issuer may make such modification without further agreement of any
      Warrant Holder. If such modification materially impacts the rights of the
      Warrant Holders, such Issuer will mail a notification of such change to the
      affected Warrant Holders.

    

    10.3  Supplements
      and Amendments.
      An
      Issuer and the Warrant Agent may from time to time supplement or amend this
      Agreement without the approval of any Warrant Holders in order to cure any
      ambiguity or to correct or supplement any provision contained herein that may
      be
      defective or inconsistent with any other provisions herein, or to make any
      other
      provisions in regard to matters or questions arising hereunder that an Issuer
      and the Warrant Agent may deem necessary or desirable.

    

    10.4  Assignment.
      A
      Warrant Holder may transfer and assign their rights to any Plan Warrant
      provided, however, that any such assignment shall not release the Warrant Holder
      from their commitments and obligations hereunder unless the obligations are
      formally assumed by such assignee. A Warrant Holder shall not transfer the
      Plan
      Warrants unless the transfer is registered or exempt from registration under
      applicable securities laws. The Warrant Agent may require that such Warrant
      Holder first obtain an opinion of counsel satisfactory to the Warrant Agent
      and
      the Issuer that the proposed disposition or transfer does not violate securities
      laws. Any transfer must specifically acknowledge that this Agreement will
      continue to control the Plan Warrants so transferred.

    

    10.5  Termination.
      This
      Agreement shall terminate at the close of business on the Expiration Date or
      such earlier date upon which all Plan Warrants of all Issuers have been
      exercised or redeemed; provided, however, that if exercise of any Plan Warrants
      are suspended pursuant to Section 10.2 and such suspension continues past the
      Expiration Date, this Agreement shall terminate at the close of the business
      on
      the business day immediately following the expiration of the suspension. The
      provisions of Article VI shall survive this termination.

     

    
      
        
        

      

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            Plan
              Warrant Agreement 

            
              

            

             

          

        

      

    

    10.6  Governing
      Law.
      This
      Agreement and each Plan Warrant Certificate or other evidence of ownership
      issued hereunder shall be deemed to be a contract made under the laws of the
      state in which an Issuer is incorporated at such time as a dispute arises and,
      for all purposes except as superseded by the jurisdiction of the Bankruptcy
      Court, shall be construed in accordance with the laws of such State. Any
      disputes shall be governed by the Plan, the Bankruptcy Court, the orders of
      the
      Bankruptcy Court pertaining to the Plan and the Bankruptcy Code. Venue, if
      in
      state or federal court shall be the most convenient state or federal court
      in
      relationship to the applicable Issuer’s headquarters. 

    

    10.7  Successors.
      All the
      covenants and provision of this Agreement by or for the benefit of an Issuer,
      a
      Warrant Holder or a Warrant Agent shall bind and inure to the benefit of their
      respective successors and assigns hereunder.

    

    10.8  Severability.
      Should
      any part of this Agreement for any reason be declared invalid or unenforceable,
      such decision will not affect the validity or unenforceability of any remaining
      portion, which remaining portion will remain in force and effect as if this
      Agreement had been executed with the invalid portion eliminated and it is hereby
      declared the intention of the parties hereto that the parties would have
      executed the remaining portion of this Agreement without including therein
      any
      such part or portion which may, for any reason, be hereafter declared invalid
      or
      unenforceable.

    

    10.9  Reliance.
      The
      Warrant Agent may rely on the facsimile or similar transmissions from a Warrant
      Holder as original signatures and representations of the Issuer as to the names,
      addresses and number of Plan Warrants of the Issuer’s Warrant Holders and their
      ownership positions.

    

    10.10  Construction.
      The
      parties hereto hereby acknowledge and agree that the rule of construction to
      the
      effect that any ambiguities are to be resolved against the drafting party will
      not be applied to the interpretation of this Agreement. No inference in favor
      of, or against, any party will be drawn from the fact that one party has drafted
      any portion hereof.

    

    10.11  Advice
      of Counsel.
      Each
      party hereby acknowledges that they are entitled to and have been afforded
      the
      opportunity to consult legal counsel of their choice regarding the terms and
      conditions and legal effects of this Agreement, as well as the advisability
      and
      propriety thereof. Each party hereby further acknowledges that having so
      consulted with legal counsel of their choosing or having chosen not to consult,
      hereby waives any right to the legal representation or effective representation
      and any right to raise or rely upon the lack of representation or effective
      representation in any future proceedings or in connection with any future
      claim.

    

    10.12  Complete
      Agreement; Amendment.
      Except
      as determined by the Plan, the Bankruptcy Court, the orders of the Bankruptcy
      Court and the Bankruptcy Code, this Agreement sets forth the entire
      understanding between the parties hereto and supersedes all prior agreements,
      arrangements and communications, whether oral or written, with respect to the
      subject matter hereof. No other agreements, representations, warranties or
      other
      matters, whether oral or written, shall be deemed to bind the parties hereto
      with respect to the subject matter hereof. This Agreement may not be modified
      or
      amended except by the mutual written agreement of the parties.

     

    
      
        
        

      

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            Plan
              Warrant Agreement 

            
              

            

             

          

        

      

    

    10.13  Captions.
      The
      descriptive headings of the various Sections or parts of this Agreement are
      for
      convenience only and shall not affect the meaning or construction of any of
      the
      provisions hereof.

    

    10.14  Execution
      in Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed to be an original as against any party whose signature appears thereon
      and all of which shall together constitute one and the same instrument. This
      Agreement shall become binding when one or more counterparts hereof,
      individually or taken together, shall bear the signature of all of the parties
      reflected hereon as the signatories.

    

    IN
      WITNESS WHEREOF, this Agreement has been executed as of the Effective Date
      written above.

     

    
      	“WARRANT
              HOLDER”
              deemed executed in accordance with the terms of the Plan and the Warrant
              Acceptance and Effective Delivery Agreement, attached hereto as
              Exhibit
              B
              and specifically made part hereto.	 	 	“ISSUERS”
              VISITALK
                CAPITAL CORPORATON

              As
                an Issuer and as Implementation Agent for the other
                Issuers

            
	
             	
             	
             	
             
	
            /s/ 	
             	
             	 
	
              
Signature
              (all record holders should sign)	
             	
             	
              

              By:
                

              Its:

            

    

     

    
      
        
        

      

        15

        
          

        

      

       

    
    

    EXHIBIT
      A

     

    
      ISSUERS
        COVERED BY THE PLAN WARRANT AGREEMENT

    

    

    
      	Visitalk
              Capital Corporation
	VT
              Billing Services, Inc.
	VT
              Business Products, Inc.
	VT
              Consumer Services, Inc.
	VT
              Financial Services, Inc.
	VT
              Gaming Services, Inc.
	VT
              International Corp.
	VT
              Marketing Services, Inc.
	VT
              Video Services, Inc.
	VT
              Arabic Services, Inc.
	VT
              Chinese Services, Inc.
	VT
              Dutch Services, Inc.
	VT
              French Services, Inc.
	VT
              German Services, Inc.
	VT
              Hispanos Services, Inc.
	VT
              Italian Services, Inc.
	VT
              Japanese Services, Inc.
	VT
              Korean Services, Inc.
	VT
              Portuguese Services, Inc.

    

     

    
      
        
        

      

        16

        
          

        

      

       

    

    EXHIBIT
      B

    

      FORM
        OF WARRANT ACCEPTANCE AND EFFECTIVE DELIVERY AGREEMENT

    

     

    Visitalk
      Capital Corporation

    14647
      S.
      50th St., Suite 130

    Phoenix,
      AZ 85044

    

    Dear
      Sir
      or Madam:

    

    A.  Capitalized
      terms, unless defined herein, have the same meaning as defined in the warrant
      agreement effective September 17, 2004 (the “Plan
      Warrant Agreement”)
      or in
      the Second Joint Plan of Reorganization dated June 22, 2004, confirmed by the
      United States Bankruptcy Court for the District of Arizona related to Case
      No.
      00-13035-PHX-RTB (the “Plan”)
      of
      visitalk.com, Inc. (“Visitalk”).
      The
      Undersigned represents that they have reviewed the Plan Warrant Agreement and
      the Plan and have had the opportunity to ask questions regarding their terms
      and
      restrictions.

    

    B.  Each
      Issuer is required under the Plan to issue certain warrants to various claimants
      categorized under the Plan (the “Plan
      Warrants”).
      Such
      Plan Warrants are defined in the Plan and governed in accordance with the Plan
      Warrant Agreement.

    

    C.  The
      Undersigned, _______________________________________,
      hereby
      tenders this Warrant Acceptance and Effective Delivery Agreement (the
“Acceptance
      Agreement”)
      to
      Visitalk Capital Corporation, as an Issuer and as the Implementation Agent
      for
      the other Issuers,
      and unless an executed “Election to Certificate Agreement” is attached,
hereby
      elects to have all of their Plan Warrants issued in Book Entry form.
 

    

    D.  This
      Acceptance Agreement has been duly authorized by all necessary action on the
      part of the Undersigned and, if necessary, this Acceptance Agreement has been
      duly executed by an authorized officer or representative of the Undersigned
      and
      such person is a legal officer or representative of the Undersigned and this
      Acceptance Agreement is enforceable in accordance with its terms.

    

    E.  If
      physical delivery of the Plan Warrant certificates is desired, please and return
      sign BOTH this Acceptance Agreement and also sign and return the “Election to
      Certificate Agreement, “ attached to the Plan Warrant Agreement as Exhibit F,
      along with a check for the certificate issue fee as set forth
      therein.

    

    BY
      EXECUTION BELOW, THE UNDERSIGNED ACKNOWLEDGES THAT THEY HAVE RECEIVED EFFECTIVE
      DELIVERY OF THE PLAN WARRANTS. VISITALK CAPITAL CORPORATION AND EACH ISSUER
      IS
      RELYING UPON THE ACCURACY AND COMPLETENESS OF THE REPRESENTATIONS CONTAINED
      HEREIN IN COMPLYING WITH ITS OBLIGATIONS.

     

    
      	
            Warrant
              Holder Accepted and Agreed:
              WARRANT
                HOLDER **

            	
             	
             	
              Issuer
                Acceptance
VISITALK
              CAPITAL CORPORATON, as an Issuer and as Implementation Agent for the
              other
              Issuers
	 	 	 	 
	 	 	 	 
	
              

              Signatures
                (all record holders should sign)

            	
             	
             	
              

              By:

              
                Its:

              

            

    

    

    **
      NOTE - If the Plan Warrants are being accepted by an “Entity”,
      

    Warrant
      Holder must sign the Certificate of Authority on Exhibit
      B-2

    
      
        
        

      

        17

        
          

        

      

       

    

    EXHIBIT
      B-2

     

    
      CERTIFICATE
        OF AUTHORIZATION

    

    (to
      be
      completed if the Plan Warrants are being accepted by an “ Entity”)
       

      
        	I hereby certify that
                _________________________________________________________(“Entity”)
	
                 (name
                  of company, trust, partnership or other form of entity)

              
	is
                a_______________organized
                and existing under and by virtue of the laws of the State
                of______________
	
                (entity
                  type)                                                 
                  (state)

              
	and
                its tax ID number is__________________________and
                it is currently in good standing and its charter 
	
                (federal
                  tax ID or SS #)

              
	in
                full force and effect. I further certify that
                the______________________and/or
                the___________________  
	
                (title)                         
                  (title)

              
	are
                fully authorized and empowered to make , execute and deliver any
                and all
                written instruments necessary or 
	proper
                to effectuate the authority hereby conferred. I further certify
                that________________________now
                is 
	
                (name)

              
	the______________________and
                __________________________is
                now the______________________   .
	
                (title)   
 (name)     (title)

              

      

    

    
       

      I
        further
        certify that the officers set forth herein, or any one of them, are duly
        authorized by the Entity to execute and carry out the terms of the Warrant
        Acceptance and Effective Delivery Agreement and certify further that the
        Warrant
        Acceptance and Effective Delivery Agreement has been duly and validly executed
        on behalf of the Entity and constitutes a legal and binding obligation of
        the
        Entity.

       

      
        	
               	
               	
               	
               
	
              Dated
                this____day
                of___________,
                200__. 	
               	
               	 
	
              	
               	
               	
                

                Signature
                  of certifying officer

                (Must
                  not be signed by officer authorized to act)

              
	 	 	 	 
	 	 	 	
                
Title
                of certifying officer

        
          
            
            

          

            18

            
              

            

          

           

        

      

       

    
    EXHIBIT
      C

     

    
      FORM
        OF CLAIM HOLDER OWNERSHIP SCHEDULE

    

    

    The
      Plan
      Warrants specified below are only valid if the specific named Claim Holder
      named
      herein, or a proper assignee, has executed a Warrant Acceptance and Effective
      Delivery Agreement (“Acceptance
      Agreement”)
      prior
      to March 31, 2006 and such agreement has been received by Visitalk Capital
      Corporation as the agent of the Issuers no later than April 15,
      2006.

    

      Claim
        Holder:

    

     

    
      	______________________________________	 	
              Investment
                in Series A:

            	 	
              $________________

            
	______________________________________	 	
              Investment
                in Series B:

            	 	
              $________________ 

            
	______________________________________	 	
              Investment
                in Series C:

            	 	
              $________________

            
	______________________________________	 	
              Investment
                in Series_____

            	 	
              $________________

            

    

     

    
      
        	
                Plan
                  Allowed Claim: 

              	
                $____________

              
	
                Plan
                  Class: 

              	
                _____________

              

      

    

     

    
      
        	
                Issuers

              	
                Unit
                  #

              	
                Warrant
                  Units**

              
	 	
                ___________

              	
                _____________________

              
	
                Visitalk
                  Capital Corporation

              	
                ___________

              	
                _____________________

              
	
                VT
                  Billing Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Business Products, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Consumer Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Financial Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                Dynamic
                  Biometric Systems, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  International Corp.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Marketing Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Video Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Arabic Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Chinese Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Dutch Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  French Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  German Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Hispanos Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Italian Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Japanese Services, Inc.

              	
                ___________

              	
                ______________________

              
	
                VT
                  Korean Services, Inc.

              	
                ___________

              	
                _____________________

              
	
                VT
                  Portuguese Services, Inc.

              	
                ___________

              	
                _____________________

              

      

    

     

     

    **
      A
      Warrant Unit consists of consist
      of one A Warrant, one B Warrant, one C Warrant, one D Warrant, one E Warrant
      and
      one F Warrant. 

    
      
        
        

      

        19

        
          

        

      

       

    

    EXHIBIT
      D

     

    
      FORM
        OF WARRANT CERTIFICATE OR WARRANT UNIT CERTIFICATE

    

    

      NAME
        OF ISSUER

    

    

    
      	
              Plan
                Warrants to Purchase __________ Shares 

            	 	
              Warrant
                Series ___ - Number ____

            
	
              Plan
                Warrant Expiration Date ______________

            	 	
              Per
                Warrant Exercise Price $_____.00

            

    

    

    THIS
      IS
      TO CERTIFY that,________________________________________or
      registered assigns, is the registered holder (“Warrant
      Holder”)
      of the
      number of warrants (“Plan
      Warrants”)
      set
      forth above. Each
      Plan
      Warrant entitles the Warrant Holder to purchase, subject to the terms and
      conditions in this certificate and set forth in a warrant agreement effective
      September 17, 2004, (the “Plan
      Warrant Agreement”)
      which
      is hereby incorporated herein and made a part hereof, at any time on or after
      September 17, 2004, and at or prior to the close of business on the Expiration
      Date, but not thereafter, unless the Plan Warrant is earlier Called or the
      Plan
      Warrant Expiration Date is extended by the Issuer, one fully paid and
      non-assessable share of the Issuer’s common stock (“Share”),
      or
      equivalent security of any successor thereto, at a purchase price equal to
      the
      Exercise Price set forth above, as adjusted, in accordance with the Plan Warrant
      Agreement.
      Capitalized terms herein have the same meaning as in the Plan Warrant Agreement,
      which is controlling. 

    

    Upon
      (i)
      exercise and satisfaction of one or more conditions precedent set forth herein
      and in the Plan Warrant Agreement, (ii) presentation and surrender to the Issuer
      or the Warrant Agent, or its successor, a Warrant Certificate with a
      Subscription and Exercise Notice duly executed, and (iii) accompanied by payment
      of the purchase price in Good Funds payable to the order of the Issuer, the
      Warrant Holder will receive one or more certificates of Shares or equivalent
      securities so purchased. Issuance of fractional shares is governed by the Plan
      Warrant Agreement.

    

    The
      Issuer covenants and agrees that all Shares delivered upon the exercise of
      these
      Plan Warrants will, upon delivery, be fully paid and non-assessable. The Plan
      Warrants shall not be exercisable in any jurisdiction where exercise would
      be
      unlawful. The Issuer shall not be required to honor the exercise of the Plan
      Warrants if, in the opinion of its Board of Directors, upon advice of counsel,
      the issuance of Shares upon exercise of the Plan Warrants would be unlawful.
      The
      number of Shares, or other equivalent equity security, issuable upon the
      exercise of these Plan Warrants and the Exercise Price shall be subject to
      adjustment from time to time, in certain events, as set forth in the Plan
      Warrant Agreement.

    

    The
      Issuer agrees at all times to reserve or hold available, or cause to reserve
      or
      hold available, a sufficient number or Shares, or other equivalent equity
      security, to cover the number of Shares, or other equivalent equity security,
      issuable upon the exercise of these and all other Plan Warrants of like tenor
      then outstanding.

    

    This
      Warrant Certificate does not entitle the Warrant Holder hereof, either at law
      or
      in equity, to any voting rights or other rights as a shareholder of the Issuer,
      or to any other rights whatsoever except the rights expressly herein set forth,
      and no dividend shall be payable or accrue in respect of these Plan Warrants
      or
      the interest represented hereby, or the Shares that may be purchased upon
      exercise hereof until or unless, and except to the extent that, these Plan
      Warrants shall be duly exercised.

     

    
      
        
        

      

        20

        
          

        

      

      
        
        

      

    
     

    This
      Warrant Certificate is exchangeable at any time prior to expiration upon the
      surrender hereof by the Warrant Holder to the Warrant Agent for one or more
      new
      Warrant Certificates of like tenor and date representing in the aggregate the
      right to purchase the number of Shares that may be purchased upon exercise
      hereof, each of the new Warrant Certificates to represent the right to purchase
      the number of Shares as may be designated by the Warrant Holder at the time
      of
      the surrender. Any issuance or transfer costs related to this Warrant
      Certificate shall be paid by the Warrant Holder.

    

    The
      Issuer may deem and treat the Warrant Holder of this Warrant Certificate at
      any
      time as the absolute owner hereof and of the Plan Warrants covered hereby for
      all purposes and shall not be affected by any notice to the
      contrary.

    

    The
      Plan
      Warrants evidenced by this Warrant Certificate are subject to the terms of
      the
      Plan Warrant Agreement which is available at the principal corporate office
      of
      the Warrant Agent or the Issuer. The Plan Warrant Agreement is incorporated
      herein by reference and made a part hereof and reference is hereby made to
      the
      Plan Warrant Agreement for a full description of the rights, limitations of
      rights, obligations, duties and immunities hereunder of the Warrant Agent,
      the
      Issuers and the Warrant Holders of the Plan Warrants. 

    

    If
      a
      Third Party Warrant Agent has been appointed, this Warrant Certificate shall
      not
      be valid or obligatory for any purpose unless countersigned by the Warrant
      Agent.

    

    In
      Witness Whereof, the
      Issuer has caused this Warrant Certificate to be executed by its duly authorized
      officer, and the corporate seal hereunto affixed.

     

    
      	
             	
             	
             
	 	
            ISSUER
	 
 	 
 	 
 
	Dated:____________________________________	By:  	 
	 	
              
President

    

     

    
      	
             	
             	
             
	 	By:  	 
	 	
              
Secretary

    

     

    
      
        
        

      

        21

        
          

        

      

       

    

    Exhibit
      D-1

     

    ASSIGNMENT
      FORM

     

    To
      assign
      this Plan Warrant or a Book Entry Plan Warrant, fill in the form
      below:

    

    I
      or we
      assign and transfer___________________of
      my
      Plan Warrant rights under Warrant Series________(indicate
      A through F or U for unit) - Certificate or Book Entry No.________to:
      (must
      include Assignee’s Social Security or EIN No. below) 

    

    (“Assignee”) 

    
      

    

    (Print
      or
      type assignee’s name

    

    
      
 (Print
      or
      type assignee’s address and zip code)

    

    Federal
      Tax ID or Social Security Number(s):__________________________________    

    

    and
      irrevocably appoint____________________________________as
      agent
      to transfer this Plan Warrant on the books of the Issuers. The agent may
      substitute another to act for him.

     

    I
      represent that the Assignee received and has agreed to be bound by all the
      terms
      of the Plan Warrant Agreement dated September 17, 2004 governing this Plan
      Warrant.

     

    
      	 	 	 
	Date:_______________________	Signature:  	 
	 	
              
(Sign
              exactly as your name appears on the other side of this
              Warrant Certificate)

    

     

    Signature
      Guarantee **: ________________________________________        

    

    By______________________________________________     

     

    **
      - The signature must be guaranteed by an eligible guarantor institution

    (a
      bank, stockbroker, savings and loan association or credit union
      with

    Membership
      in an approved signature guarantee medallion program)

    pursuant
      to Rule 17Ad-15 of the Securities Exchange Act of
      1934.

    
      
        
        

      

        22

        
          

        

      

       

    

    EXHIBIT
      E

     

    
      FORM
        OF SUBSCRIPTION AND EXERCISE NOTICE

    

    (To
      be
      completed and signed only upon an exercise of a Plan Warrant(s) in whole or
      in
      part)

    

    ISSUER:

    ___________________________

    ___________________________

    ___________________________

    Dear
      Sir
      or Madam:

    

    A.  Capitalized
      terms, unless defined herein, have the same meaning as defined in the warrant
      agreement effective September 17, 2004 (the “Plan
      Warrant Agreement”)
      or in
      the Second Joint Plan of Reorganization dated June 22, 2004, confirmed by the
      United States Bankruptcy Court for the District of Arizona related to Case
      No.
      00-13035-PHX-RTB (the “Plan”)
      of
      visitalk.com, Inc. (“Visitalk”).
      The
      Undersigned represents that they have reviewed the Plan Warrant Agreement and
      the Plan and have had the opportunity to ask questions regarding their terms
      and
      restrictions.

    

    B.  The
      Undersigned,_______________________________________,
      the
      Warrant Holder of the attached Plan Warrant or Book Entry Plan Warrant
      designated as______________________,
      hereby
      irrevocably elects to exercise the purchase right represented by such Plan
      Warrants for, and to purchase from the Issuer,__________________ Shares,
      and herewith makes a payment of $_____________in
      Good
      Funds, as such terms are defined in the Plan Warrant Agreement,. (Payment =
      Plan
      Warrants exercised x Exercise Price).

    

    C.  Important
      Notice regarding Ownership Limitations.
      This
      Subscription and Exercise Notice is governed by Article V of the Plan Warrant
      Agreement and is a specific representation by the Undersigned that, after giving
      effect to this Exercise Notice, (i) the Warrant Holder and its Affiliates will
      not beneficially own in excess of 4.99% of the outstanding Shares of the Issuer
      and (ii) the Warrant Holder will not have acquired, through exercise of this
      Plan Warrant or otherwise, a number of Shares that, when added to the number
      of
      Shares beneficially owned by the Warrant Holder at the beginning of the 60-day
      period ending on and including the applicable date of exercise of these Plan
      Warrants, is in excess of 4.99% of the outstanding Shares of an Issuer.

    

    D.  The
      Undersigned hereby requests that the Certificate for the Shares be issued in
      the
      following name and delivered to the following
      address:_______________________________________ (Print
      or
      type name, address and zip code)

    

    E.  If
      this
      Subscription and Exercise Notice is for an exercise of the Plan Warrants to
      purchase fewer the maximum Shares to which the Undersigned is entitled under
      the
      Plan Warrants tendered, the Undersigned hereby requests that new Plan Warrants
      for the remaining Plan Warrants be issued in the following name and delivered
      to
      the following address:____________________________________(Print
      or
      type name, address and zip code)

    

    F.  This
      Subscription and Exercise Notice has been duly authorized by all necessary
      action on the part of the Undersigned and, if necessary, this Subscription
      and
      Exercise Notice has been duly executed by an authorized officer or
      representative of the Undersigned and such person is a legal officer or
      representative of the Undersigned and this Subscription and Exercise Notice
      is
      enforceable in accordance with its terms.

    

    BY
      EXECUTION BELOW, THE UNDERSIGNED ACKNOWLEDGES THAT THE ISSUER IS RELYING UPON
      THE ACCURACY AND COMPLETENESS OF THE REPRESENTATIONS CONTAINED HEREIN IN
      COMPLYING WITH ITS OBLIGATIONS.

    

    
      	
              Warrant
                Holder Accepted and Agreed:

            	 	
              Issuer
                Acceptance

            
	
              WARRANT
                HOLDER **

            	 	 
	 	 	
               

            
	
              
                
                  

                
Signatures
                (all record holders should sign)

            	 	
              
                
By:

            
	 	 	
              Its:

            

    

    

    **
      NOTE - If the Plan Warrants are being accepted by an “Entity”,
      

    Warrant
      Holder must sign the Certificate of Authorization on Exhibit
      E-2

    
      
        
        

      

        23

        
          

        

      

       

    

    EXHIBIT
      E-2

     

    
      CERTIFICATE
        OF AUTHORIZATION

    

    (to
      be
      completed if the Plan Warrants are being accepted by an “Entity”)

    
       

      
        	I hereby certify that
              _________________________________________________________(“Entity”)
	
                
                   (name
                  of company, trust, partnership or other form of entity)

              
	
              is a_______________organized
              and existing under and by virtue of the laws of the State
              of______________
	
                
                  (entity type)                                  (state)

              
	
              and its tax ID number is__________________________and
              it is currently in good standing and its charter 
	
                
                  (federal tax ID or SS #)

              
	
              in full force and effect. I further certify that
              the______________________and/or
              the___________________  
	
                
                  (title)                         
                  
                  (title)

              
	
              are fully authorized and empowered to make , execute and deliver
              any and all written instruments necessary or 
	
              proper to effectuate the authority hereby conferred. I further
              certify that________________________now
              is 
	
                
                  (name)

              
	
              the______________________and
              __________________________is
              now the______________________.
	
                
                  (title)   
 (name)     (title)

              

      

       

    

    I
      further
      certify that the officers set forth herein, or any one of them, are duly
      authorized by the Entity to execute and carry out the terms of the Subscription
      and Exercise Notice and certify further that the Subscription and Exercise
      Notice has been duly and validly executed on behalf of the Entity and
      constitutes a legal and binding obligation of the Entity.

    
       

      
        	
               	
               	
               	
               
	
              Dated
                this____day
                of___________,
                200__. 	
               	
               	 
	
              	
               	
               	
                

                Signature
                  of certifying officer

                (Must
                  not be signed by officer authorized to act)

              
	 	 	 	 
	 	 	 	
                
Title
                of certifying
                officer

      

    

    
      
        
        

      

        24

        
          

        

      

      
        
        

      

    

    EXHIBIT
      F

     

    
      FORM
        OF ELECTION TO CERTIFICATE AGREEMENT 

    

    

    Visitalk
      Capital Corporation

    14647
      S.
      50th St., Suite 130

    Phoenix,
      AZ 85044

    

    Dear
      Sir
      or Madam:

    

    A.  Capitalized
      terms, unless defined herein, have the same meaning as defined in the warrant
      agreement effective September 17, 2004 (the “Plan
      Warrant Agreement”)
      or in
      the Second Joint Plan of Reorganization dated June 22, 2004, confirmed by the
      United States Bankruptcy Court for the District of Arizona related to Case
      No.
      00-13035-PHX-RTB (the “Plan”)
      of
      visitalk.com, Inc. (“Visitalk”).
      The
      Undersigned represents that they have reviewed the Plan Warrant Agreement and
      the Plan and have had the opportunity to ask questions regarding their terms
      and
      restrictions.

    

    B.  The
      Undersigned, ____________________________________________, by executing this
      Election to Certificate Agreement, hereby elects to have all its Plan Warrants
      issued in certificated form. The
      Plan
      Warrants requested will be issued in Units consisting of one A Warrant, one
      B
      Warrant, one C Warrant, one D Warrant, one E Warrant and one F Warrant for
      each
      Issuer,
      in
      accordance with the Plan Warrant
      Agreement and as authorized under the Plan.

    

    C.  The
      Undersigned is enclosing a check for $285.00 (19 certificates x $15.00 per
      certificate issuance fee) payable to Visitalk Capital Corporation as the
      Implementation Agent for the Issuers. 

    

    D.  The
      Undersigned understands and acknowledges that, by electing
      to receive physical delivery of the Plan Warrants:

    

    a.  the
      Undersigned waives any of the rights and benefits to having the Contingent
      Agent
      act for them pursuant to the Contingent Agent Agreement, and

    

    b.  transfer
      fees will be imposed upon any future transfers or changes in the Units. For
      example, if the Undersigned desires to exercise only the A Warrants, the
      Undersigned will have to submit the Unit certificate and pay a fee to issue
      a
      new Unit certificate.

    

    E.  This
      Election to Certificate Agreement has been duly authorized by all necessary
      action on the part of the Undersigned and, if necessary, this Election to
      Certificate Agreement has been duly executed by an authorized officer or
      representative of the Undersigned and such person is a legal officer or
      representative of the Undersigned and this Election to Certificate Agreement
      is
      enforceable in accordance with its terms.

    

    BY
      EXECUTION BELOW, THE UNDERSIGNED ACKNOWLEDGES THAT VISITALK CAPITAL CORPORATION
      AND EACH ISSUER IS RELYING UPON THE ACCURACY AND COMPLETENESS OF THE
      REPRESENTATIONS CONTAINED HEREIN IN COMPLYING WITH ITS
      OBLIGATIONS.

    

    
      	
              Warrant
                Holder Accepted and Agreed:

            	 	
              Issuer
                Acceptance

            
	
              WARRANT
                HOLDER **

            	 	
              VISITALK
                CAPITAL CORPORATON, as an Issuer

              and
                as Implementation Agent for the other Issuers

            
	 	 	 
	 	 	 
	
              Signatures
                (all record holders should sign)

            	 	
              By:

            
	 	 	
              Its:

            

    

    

    

    **
      NOTE - If the Plan Warrants are being accepted by an “Entity”,
      

    Warrant
      Holder must sign the Certificate of Authorization on Exhibit
      F-2

    
      
        
        

      

        25

        
          

        

      

      
        
        

      

    

    EXHIBIT
      F-2

    

    
      
        CERTIFICATE
          OF AUTHORIZATION

      

      (to
        be
        completed if the Plan Warrants are being accepted by an “Entity”)

      
         

        
          	I hereby certify that
                  _________________________________________________________(“Entity”)
	
                   (name
                    of company, trust, partnership or other form of entity)

                
	is
                  a_______________organized
                  and existing under and by virtue of the laws of the State
                  of______________
	
                  (entity
                    type)                                                 
                    (state)

                
	and
                  its tax ID number is__________________________and
                  it is currently in good standing and its charter 
	
                  (federal
                    tax ID or SS #)

                
	in
                  full force and effect. I further certify that
                  the______________________and/or
                  the___________________  
	
                  (title)                         
                    (title)

                
	are
                  fully authorized and empowered to make , execute and deliver any
                  and all
                  written instruments necessary or 
	proper
                  to effectuate the authority hereby conferred. I further certify
                  that________________________now
                  is 
	
                  (name)

                
	the______________________and
                  __________________________is
                  now the______________________.
	
                  (title)   
 (name)     (title)

                

        

         

      

      I
        further
        certify that the officers set forth herein, or any one of them, are duly
        authorized by the Entity to execute and carry out the terms of the Election
        to
        Certificate Agreement and certify further that the Election to
        Certificate Agreement has been duly and validly executed on behalf of the
        Entity
        and constitutes a legal and binding obligation of the Entity.

      
         

        
          	
                 	
                 	
                 	
                 
	
                Dated
                  this____day
                  of___________,
                  200__. 	
                 	
                 	 
	
                	
                 	
                 	
                  

                  Signature
                    of certifying officer

                  (Must
                    not be signed by officer authorized to act)

                
	 	 	 	 
	 	 	 	
                  
Title
                  of certifying
                  officer

        

      

    

    
      
        
        

      

        26

        
          

        

      

      
        
        

      

    

    EXHIBIT
      G

     

    
      FORM
        OF CONTINGENT AGENT AGREEMENT 

       

    

    This
      Contingent Agent Agreement (the “Agreement”)
      is
      made effective as of the day last executed by and among the Issuer (the
“Issuer”)
      and an
      agent, (the “Contingent
      Agent”),
      whose
      name and address appear on the signature page hereto. 

     

    
      RECITALS

       

    

    A.  The
      Issuer, pursuant to the confirmed and effective Second Joint Plan of
      Reorganization dated June 22, 2004 filed with the United States Bankruptcy
      Court
      for the District of Arizona related to Case No. 00-13035-PHX-RTB (the
“Plan”)
      of
      visitalk.com, Inc. and other Co-Proponents (jointly “Visitalk”),
      has
      issued certain warrants to various claimants under the Plan (the “Plan
      Warrants”)
      in
      accordance with the Plan and a warrant agreement effective September 17, 2004
      (the “Plan
      Warrant Agreement”).
      

    

    B.  Capitalized
      terms, unless defined herein, have the same meaning as defined in the Plan
      Warrant Agreement or the Plan.

    

    C.  The
      Plan
      Warrants are all subject to redemption by the Issuer in its sole discretion
      and
      have a fixed Expiration Date that may be extended by the Issuer in its sole
      discretion.

    

    D.  The
      Plan
      Warrant Agreement authorizes the Issuer to, in its sole discretion; provide
      the
      registered warrant holders of the certain Plan Warrants (the “Warrant
      Holders”)
      with a
      Contingent Agent to act for such Warrant Holders to attempt to maximize the
      value of the Plan Warrants for such Warrant Holders under certain limited
      circumstances.

    

    E.  The
      Plan
      Warrant Agreement allows any Holder to elect in writing not to be bound by
      this
      Agreement so that any references to Warrant Holders herein only pertain to
      the
      Warrant Holders who have not elected out of this Agreement. The Plan Warrants
      of
      any Warrant Holder covered by this Agreement must have been exempt from
      registration under Section 1145 of the Bankruptcy Code by meeting such
      requirements.

     

    
      AGREEMENTS

    

    

    NOW,
      THEREFORE, in consideration of the above recitals, the following
      representations, warranties, covenants and conditions, and other good and
      valuable consideration, the receipt of which is acknowledged, the Parties agree
      as follows:

     

    
      ARTICLE
        I

      APPOINTMENT
        OF WARRANT HOLDER CONTINGENT AGENT

    

    

    1.1  Appointment.
      Subject
      to the limitations in this Agreement, the Issuer hereby appoints the Contingent
      Agent to perform limited services for the Warrant Holders.

     

    
      
        
        

      

        27

        
          

        

      

      
        
        

      

    
     

    Contingent
      Agent Agreement

    
      
        

      

       

    

    1.2  Qualifications.
      The
      Contingent Agent agrees to be bound by the terms of this Agreement, and this
      Agreement may be modified to clarify its intent and the duties and
      responsibilities of the Contingent Agent. The Contingent Agent must be a
      licensed broker-dealer.

    

    1.3  Resignation
      or Removal of the Contingent Agent.
      The
      Contingent Agent may resign its duties and be discharged from all further duties
      and liabilities hereunder after giving thirty (30) days notice in writing to
      the
      Issuer; provided that such shorter notice may be given, as such Issuer shall
      accept as sufficient. At any time, the Issuer, upon notice and with or without
      cause, may remove the Contingent Agent. In the event the office of the
      Contingent Agent shall become vacant by resignation or incapacity to act or
      otherwise, the Issuer may, but is not required to, appoint in writing a new
      Contingent Agent in place of the Contingent Agent vacating the office.

    

    1.4  Successor
      Contingent Agent.
      Upon
      appointment, which requires the execution of a form of this Agreement, any
      successor Contingent Agent shall be vested with the same powers, rights, duties,
      responsibilities and immunities as if such agent had been originally named
      as
      Contingent Agent. If for any reason it becomes necessary or expedient to execute
      any further assurance, conveyance, act or deed, the same shall be done at the
      expense of the Issuer. Subject to the foregoing provisions, any corporation
      into
      which any Contingent Agent may be merged or with which it may be consolidated
      or
      any corporation resulting from any merger or consolidation to which any
      Contingent Agent is a party shall be the successor Contingent Agent under this
      Agreement without any further act. Hereinafter, any reference to the Contingent
      Agent shall apply to any properly elected successor Contingent Agent.

     

    
      ARTICLE
        II

      RIGHTS
        AND DUTIES OF THE CONTINGENT AGENT IN THE EVENT OF
        NON-EXERCISE

    

    

    2.1  General
      Duties.
      The
      Contingent Agent will act for the Warrant Holders to sell the Plan Warrants
      or
      the shares of common stock issued through the exercise of the Plan Warrants
      (the
“Shares”)
      to
      attempt to maximize the value of the Expired Warrants, as defined in paragraph
      2.2. The Contingent Agent’s decisions regarding negotiation of Share prices or
      Plan Warrant prices, in public or private sales, unless grossly negligent,
      are
      deemed to be reasonable. The Contingent Agent has the right but not the
      obligation to exercise the rights in this Article and the Contingent Agent’s
      good faith exercise of these rights shall be in its sole
      discretion.

    

    2.2  Contingent
      on the Expiration of Time to Exercise.
      In the
      event Plan Warrants expire due to either a redemption Call of any specific
      Series of Plan Warrants as provided in the Plan Warrant Agreement or upon
      occurrence of any Expiration Date (the “Expired
      Warrants”),
      the
      Warrant Holder and Issuer of each such Plan Warrant hereby grant the Contingent
      Agent special rights as provided in this Agreement to maximize the potential
      value of any such Expired Warrants but only after the date specified in the
      Redemption Notice or after the Expiration Date.

    

    2.3  Limited
      Extension of Exercise Date.
      Only if
      there is a Contingent Agent and only if the Expired Warrants are in Book Entry
      form, the Issuer will extend the period any Expired Warrants may be exercised
      for an additional thirty (30) days after the Redemption Date specified in the
      Redemption Notice or after the Expiration Date (the “Special
      Exercise Period”).
      Only
      during this Special Exercise Period, may the Contingent Agent exercise any
      amount of Expired Warrants as allowed under this Agreement, subject to the
      limitation in Article 3.2 below, and only for the benefit of all the Warrant
      Holders of all the Expired Warrants (the “Covered
      Holders”).
      The
      Contingent Agent may also sell any amount of the Expired Warrants for the
      benefit of all the Covered Holders and may assign the Special Exercise Period
      right to the buyer of any such Expired Warrants, subject to the limitation
      in
      Article 3.2 below. This grant of a Special Exercise Period to the Contingent
      Agent in no way grants any Warrant Holder additional time to
      exercise.

     

    
      
        
        

      

        28

        
          

        

      

      
        
        

      

    
    
       

      Contingent
        Agent Agreement

      
        
          

        

         

      

    

    2.4  Distribution
      of Proceeds from Sale or Exercise.
      In the
      event that the Contingent Agent exercises its rights under this Article, the
      Contingent Agent will accumulate the proceeds received from the sale of Expired
      Warrants or Shares in a specifically established trust account (the
“Trust
      Account”)
      and
      will deduct the Fees and Expenses (as defined below) to derive the net proceeds
      (“Net
      Proceeds”).
      The
      beneficiaries of such Trust Account are the Warrant Holders of all the Expired
      Warrants. Within ten (10) business days of the expiration of the Special
      Exercise Period, the Contingent Agent shall distribute the Net Proceeds pro
      rata
      to all the Covered Holders. Payment of the Net Proceeds will be accompanied
      by a
      summary accounting of the receipts, expenses and fees. The distribution to
      any
      Covered Holder will equal the Net Proceeds multiplied by a fraction that equals
      the Expired Warrants the Covered Holder could have exercised prior to the
      Expiration Date divided by all Expired Warrants that could have been exercised
      by all Covered Holders prior to the Expiration Date.

    

    2.5  Contingent
      Agent’s Fees and Expenses.
      The
      Contingent Agent’s Fees and Expenses shall include (i) all reasonable expenses
      incident to the performance of or compliance with its obligations under this
      Agreement; (ii) all costs and expenses incurred by the Contingent Agent
      (including all transfer taxes, brokerage and other discounts and commissions
      and
      finders’ and similar fees payable in respect to the sales of the Expired
      Warrants or Shares issued upon the exercise of the Expired Warrants, and (iii)
      a
      Contingent Agent commission equal to a percentage of the gross sale proceeds
      as
      negotiated by the Issuer from time to time.

     

    
      ARTICLE
        III

      LIMITATION
        AND METHOD OF EXERCISE

       

    

    3.1  Method
      of Exercise.
      In the
      event the Contingent Agent elects to exercise Plan Warrants and sell the Shares
      so received, the Issuer and the Contingent Agent agree that the Contingent
      Agent
      can instruct the selling broker to remit the Exercise Price directly to the
      Issuer with the remaining proceeds being delivered to the Contingent Agent
      for
      deposit to the Trust Account. The Issuer agrees that in its sole discretion,
      upon the sale confirmation and upon coordination with any broker, the Issuer
      may
      cause the Shares to be delivered simultaneously with the receipt of the Exercise
      Price.

    

    3.2  Limitation
      on Ownership.
      

    

    (a) Notwithstanding
      anything to the contrary contained herein, unless specifically waived and
      approved by the Issuer in writing, the number of Expired Warrants subject to
      this Agreement shall not be in excess of 4.99% of the outstanding shares of
      common stock of the Issuer. For purposes of this paragraph, the number of
      outstanding shares of common stock will be ascertained from the Issuer’s
      transfer agent as of the close of business of the Expiration Date of the subject
      Plan Warrants. The number of outstanding shares of common stock shall be
      determined after giving effect to the Shares not yet issued as a result of
      the
      exercise of Plan Warrants on or prior to the Expiration Date, including the
      exercise with respect to this determination.

     

    
      
        
        

      

        29

        
          

        

      

      
        
        

      

    
    
      
         

        Contingent
          Agent Agreement

        
          
            

          

           

        

      

    

    (b) The
      Contingent Agent may transfer and assign its rights to any Expiring Warrants
      of
      the Issuer provided, however, that any such assignment shall require that all
      such obligations in the Plan Warrant Agreement regarding limitation of ownership
      are formally assumed by the assignee.

    

    3.3  Grant
      by the Warrant Holder of Limited power of attorney.
      The
      Contingent Agent shall be the sole attorney in fact of the Warrant Holders
      to
      exercise or sell any Expired Warrants held in the name of the Warrant Holder
      throughout the Special Exercise Period.

    

    3.4  Special
      accounts.
      The
      Contingent Agent has the right and authority to open a special brokerage account
      or other financial institution account to maintain the securities or proceeds
      and to facilitate transactions. Such accounts will be a fiduciary account for
      the Covered Holders.

     

    
      ARTICLE
        IV

      CONCERNING
        THE CONTINGENT AGENT

       

    

    4.1    
       Actions
      by Contingent Agent.
      The
      Contingent Agent may, for the execution of the duties and in the execution
      of
      the powers conferred upon it, appoint or employ as agents or representatives
      or
      otherwise any solicitors, counsel, bankers, brokers, accountants, clerks or
      inspectors or other agents, and all reasonable expenses and disbursements made
      and incurred by the Contingent Agent in connection with the execution of its
      duties hereunder will be included as Fees and Expenses as provided in Section
      2.5 above.

    

    4.2    
       Exculpatory
      Provisions.
      In
      order to induce the Contingent Agent to act hereunder, the Issuer and each
      Warrant Holder, by not electing out of this Agreement, agree that: 

    

    (a) The
      Contingent Agent shall be entitled to take legal or other advice and employ
      such
      assistance as it may deem necessary to the proper discharge of its duties
      hereunder and to pay proper and reasonable compensation therefore and may in
      connection with any matter relating to this Agreement, act on the opinion or
      advice or information obtained from any attorney, auditor or other expert,
      whether obtained by the Contingent Agent, the Issuer or otherwise and shall
      not
      be responsible for any loss occasioned by acting thereon; 

    

    (b) Whenever
      in the administration of its duties under this Agreement, the Contingent Agent
      shall deem it necessary or desirable that any matter be provided or established
      by the Issuer prior to taking or suffering any action hereunder, such matter
      (unless other evidence is specifically prescribed) may be deemed to be
      conclusively proved and established by a certificate of an executive officer
      of
      the Issuer delivered to the Contingent Agent and such certificate shall be
      full
      justification and cause to the Contingent Agent for any action taken or suffered
      in good faith by it under the provisions of this Agreement; but in its
      discretion, the Contingent Agent may in lieu thereof accept other evidence
      of
      such fact or matter or may require such further or additional evidence as the
      Contingent Agent may deem reasonable; 

     

    
      
        
        

      

        30

        
          

        

      

      
        
        

      

    
    
      
         

        Contingent
          Agent Agreement

        
          
            

          

           

          (c) The
            Contingent Agent shall be liable hereunder only for its own negligence
            or
            willful misconduct;

        

      

    

    

    (d) The
      Contingent Agent shall not be liable for or by reason of any of the statements
      of facts or recitals contained in this Agreement or in the Plan Warrant
      Agreement or be required to verify the same and all such statements and recitals
      are and shall be deemed to have been made by the Issuer only;

    

    (e) The
      Contingent Agent shall not be under any responsibility in respect of the
      validity of this Agreement or the execution and delivery hereof or in respect
      of
      the validity of the execution or exercise of any Plan Warrant covered hereunder;
      nor shall the Contingent Agent be responsible for any breach by the Issuer
      of
      any covenant or condition contained in this Agreement or in any such Plan
      Warrant; nor shall the Contingent Agent by any act hereunder be deemed to make
      any representation or warranty as to the authorization or reservation of any
      shares to be issued upon the right of purchase provided for in the Plan Warrant
      Agreement or in any Warrant or as to whether any shares will, when issued,
      be
      duly authorized or be validly issued and fully paid and non-assessable, it
      being
      hereby agreed and declared that as to all the matters and things referred to
      in
      this subparagraph the duty and responsibility shall rest upon the Issuer and
      not
      upon the Contingent Agent and the failure of the Issuer to discharge any such
      duty and responsibility shall not in any way render the Contingent Agent liable
      or place upon it any duty or responsibility for breach of which it would be
      liable;

    

    (f) Except
      as
      in this Agreement expressly provided, the Contingent Agent acts hereunder solely
      for the benefit of the Warrant Holders and does not assume any fiduciary or
      other relationship or agency or trust for or with the Issuer. The duties and
      obligations of the Contingent Agent under this Agreement shall be determined
      solely by the provisions hereof, and no implied covenants or obligations shall
      be read into this Agreement against the Contingent Agent.

    

    4.3    
       Indemnification.
      Provided the Contingent Agent carries out its duties, within its discretion
      as
      provided under this Agreement, the Issuer will indemnify and hold harmless
      the
      Contingent Agent from and against any claim, action or loss resulting from
      the
      performance of its duties hereunder.

    

    4.4  Modification
      of Agreement.
      The
      Contingent Agent may, without the consent or concurrence of the Warrant Holders
      by supplemental agreement or otherwise, concur with the Issuer in making any
      modifications or corrections to this Agreement as to which it shall have been
      advised by counsel (who may but need not also be counsel for the Issuer) that
      the same are not prejudicial to the rights of the Warrant Holders as indicated
      by the general sense or intent of the original language and are required for
      the
      purpose of curing or correcting the inconsistent provision or clerical omission
      or mistake or manifest error herein. The Issuer or the Contingent Agent may
      request a modification of the Agreement by a majority of the Warrant Holders,
      voting in person or by proxy.

     

    
      
        
        

      

        31

        
          

        

      

      
        
        

      

    
    
       

      Contingent
        Agent Agreement

      
        
          

        

         

        
          ARTICLE
            V

          MISCELLANEOUS

        

      

    

    

    5.1  Successors
      and Assigns.
      This
      Agreement shall be binding upon the heirs, successors and assigns of the Warrant
      Holders and the Issuers. 

    

    5.2  Severability.
      Should
      any part of this Agreement for any reason be declared invalid or unenforceable,
      such decision will not affect the validity or unenforceability of any remaining
      portion, which remaining portion will remain in force and effect as if this
      Agreement had been executed with the invalid portion eliminated and it is hereby
      declared the intention of the parties hereto that the parties would have
      executed the remaining portion of this Agreement without including therein
      any
      such part or portion which may, for any reason, be hereafter declared invalid
      or
      unenforceable.

    

    5.3  Reliance.
      The
      Contingent Agent may rely on facsimile or similar transmissions from the Warrant
      Holders as original signatures and representations of the Issuer as to the
      names, addresses and number of Plan Warrants of the Warrant
      Holders.

    

    5.4  Governing
      Law.
      This
      Agreement and shall be deemed to be a contract made under the laws of the state
      in which an Issuer is incorporated at such time as a dispute arises and, for
      all
      purposes except as superseded by the jurisdiction of the Bankruptcy Court,
      shall
      be construed in accordance with the laws of such State. Any disputes shall
      be
      governed by the Plan, the Bankruptcy Court, the orders of the Bankruptcy Court
      pertaining to the Plan and the Bankruptcy Code. Venue, if in state or federal
      court, shall be the most convenient state or federal court in relationship
      to
      the applicable Issuer’s head quarters. 

    

    5.5  Construction.
      The
      parties hereto hereby acknowledge and agree that the rule of construction to
      the
      effect that any ambiguities are to be resolved against the drafting party will
      not be applied to the interpretation of this Agreement. No inference in favor
      of, or against, any party will be drawn from the fact that one party has drafted
      any portion hereof.

    

    5.6  Advice
      of Counsel.
      Each
      party hereby acknowledges that they are entitled to and have been afforded
      the
      opportunity to consult legal counsel of their choice regarding the terms and
      conditions and legal effects of this Agreement, as well as the advisability
      and
      propriety thereof. Each party hereby further acknowledges that having so
      consulted with legal counsel of their choosing or having chosen not to consult,
      hereby waives any right to such legal representation or effective representation
      and any right to raise or rely upon the lack of representation or effective
      representation in any future proceedings or in connection with any future
      claim.

    

    5.7  Complete
      Agreement; Amendment.
      This
      Agreement sets forth the entire understanding between the parties hereto and
      supersedes all prior agreements, arrangements and communications, whether oral
      or written, with respect to the subject matter hereof. No other agreements,
      representations, warranties or other matters, whether oral or written, shall
      be
      deemed to bind the parties hereto with respect to the subject matter hereof.
      This Agreement may not be modified or amended except by the mutual written
      agreement of the parties.

     

    
      
        
        

      

        32

        
          

        

      

      
        
        

      

    
    
       

      Contingent
        Agent Agreement

      
        
          

        

         

      

    

    5.8  Captions.
      The
      descriptive headings of the various Sections or parts of this Agreement are
      for
      convenience only and shall not affect the meaning or construction of any of
      the
      provisions hereof.

    

    IN
      WITNESS WHEREOF, this Agreement has been executed as of the date last executed
      below.

     

    
      	ISSUER	 	 	CONTINGENT
              AGENT
	
             	
             	
             	
             
	
              By:

            	
             	
             	
            By:
	
              
                

              

              Name:
                

              Its:
                

              Date:

            	
             	
             	
              
                

              

              Name:
                

              Its:

              Date:

              Address:

            

    

     

    
      
        
        

      

        33

        
          

        

      

       

    
     

    
      

     

    14647
      South 50th Street, Suite 130

    Phoenix,
      AZ 85044

    Phone:
      480-759-9400 ▪ Fax: 480-759-9401

    www.visitalkcapital.com

    

    
      	
              Michael
                S. Williams

              President
                & Chief Portfolio Officer

              480-759-9400
                x100

              mike.williams@visitalkcapital.com

            	
              Lanny
                R. Lang

              Chief
                Financial Officer

              480-759-9400
                x101

              Lanny.lang@visitalkcapital.com

            	
              Ivan
                Teodorovic

              Investor
                Relations

              480-759-9400
                x1

              Ivan.teodorovic@visitalkcapital.com

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