Document:

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                                                                EXHIBIT 10.23(b)

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

          This Registration Rights Agreement (the "Agreement") is made and
entered as of this nineteenth day of December, 1999 by and between ImaginOn,
Inc., a corporation organized under the laws of Delaware, USA (the "Company"),
and the "Investors" named in that certin Purchase Agreement of even date
herewith by and between the Company and the Investors (the "Purchase
Agreement").

          The parties hereby agree as follows:

          1.  Certain Definitions
              -------------------

               As used in this Agreement, the following terms shall have the
following meanings:

               "Additional Registrable Securities" shall mean the shares of
                ---------------------------------
Common Stock, if any, issued to the Investors pursuant to Section 7.1 of the
Purchase Agreement.

               "Common Stock" shall mean the Company's shares of Common Stock,
                ------------
par value $0.01 per share.
          =====

               "Investors" shall mean the purchasers identified int he Purchase
                ---------
Agreement and any affiliate of any Investor who is a subsequent holder of any
Common Stock, Warrant or Registrable Securities.

               "Prospectus" shall mean the prospectus included in any
                ----------
Registration Statement, as amended or supplemented by any prospectus supplement,
with respect to the terms of the offering of any portion of the Registrable
Securities and Additional Registrable Securities covered by such Registration
Statement and by all other amendments and supplements to the prospectus,
including post-effective amendments and all material incorporated by reference
in such prospectus.

               "Register," "registered" and "registration" refer to a
                --------    ----------       ------------
registration made by preparing and filing a registration statement or similar
document in compliance with the 1933 Act (as defined below), and the declaration
or ordering of effectiveness of such registration statement or document.

               "Registrable Securities" shall mean the shares of Common Stock
                ----------------------
issued and issuable to the Investors pursuant to the Purchase Agreement (other
than additional shares of Common Stock issuable pursuant to Section 7.1 of the
Purchase Agreement) and issuable upon the exercise of the Warrants, and any
securities issued with respect to, or in exchange for, such securities.

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               "Registration Statement" shall mean any registration statement of
                ----------------------
the Company filed under the 1933 Act that covers the resale of any of the
Registrable Securities or Additional Registrable Securities pursuant to the
provisions of this Agreement, amendments and supplements to such Registration
Statement, including post-effective amendments, all exhibits and all material
incorporated by reference in such Registration Statement.

               "SEC" means the U.S. Securities and Exchange Commission.
                ---

               "1933 Act" means the Securities Act of 1933, as amended, and the
                --------
rules and regulations promulgated thereunder.

               "1934 Act" means the Securities Exchange Act of 1934, as amended,
                --------
and the rules and regulations promulgated thereunder.

               "Warrants" mean the warrants to purchase shares of Common Stock
                --------
issued to the Investors pursuant to the Purchase Agreement.

               Other capitalized terms used herein but not defined herein shall
have the meaning provided therefor in the Purchase Agreement.

       2.  Registration.
           ------------

               (a) Registration Statement.  Promptly following the closing of
                   ----------------------
the transactions contemplated by the Purchase Agreement (the "Closing Date")
(but no later than 45 days after the Closing Date), the Company shall prepare
and file with the SEC one Registration Statement on Form S-1 covering the resale
of the Registrable Securities. Such Registration Statement shall cover, to the
extent allowable under the 1933 Act and the Rules promulgated thereunder
(including Rule 416), such indeterminate number of additional shares of Common
Stock resulting from stock splits, stock dividends or similar transactions with
respect to the Registrable Securities. No securities shall be included in the
Registration Statement without the consent of the Investors other than the
Registrable Securities. The Registration Statement (and each amendment or
supplement thereto, and each request for acceleration of effectiveness thereof)
shall be provided in accordance with Section 3(c) to (and subject to the
approval of) the Investors and their counsel prior to its filing or other
submission which approval shall not be unreasonably withheld or delayed.

               (b) Expenses.  The Company will pay all expenses associated with
                   --------
the registration and in addition shall pay the reasonable fees of counsel to the
Investors relating thereto in an amount not to exceed $5,000, excluding
discounts, commissions, fees of underwriters, selling brokers, dealer managers
or similar securities industry professionals.

               (c)  Effectiveness.
                    -------------

                         (i) The Company shall use its best efforts to have the
Registration Statement declared effective as soon as practicable. If (A) the
Registration Statement is not declared effective by the SEC within 90 days
following the Closing Date (or 120 days following the Closing Date in the case
of a registration statement which is subject to a full

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SEC review) (the "Registration Date"), or (B) after the Registration Statement
has been declared effective by the SEC, sales cannot be made pursuant to the
Registration Statement for any reason but except as excused pursuant to
subparagraph (ii) below, then the Company will make payments to each Investor,
as damages and not as a penalty, for any 30 day period or portion thereof
following the Registration Date during which any of the events described in (A)
or (B) above occurs and is continuing (the "Blackout Period") in an amount equal
to 2% of the aggregate Purchase Price paid by such Investor to the Company on
the Closing Date. The amounts payable as damages pursuant to this paragraph
shall be payable in lawful money of the United States and shall be paid on
demand from time to time following the commencement of the Blackout Period until
the termination of the Blackout Period. The same remedy shall be available in
the case of any suspension from trading or delisting from the Nasdaq Stock
Market. The remedies set forth in this section are not intended to be exclusive,
and shall be in addition to any other remedies available at law or equity.
Amounts payable as damages hereunder shall cease when such Investor no longer
holds Warrants or Registrable Securities, or Additional Registrable Securities,
as applicable.

                   (ii)  The Company may terminate or suspend effectiveness of
any registration contemplated by this Section one time for a period of not more
than twenty (20) days if the Company shall deliver to the Investors a
certificate signed by the President of the Company stating that, in the good
faith judgment of the Board of Directors of the Company, it would (A) be
seriously detrimental to the business of the Company for such registration to be
effected or remain effective at such time, (B) interfere with any proposed or
pending material corporate transaction involving the Company or any of its
subsidiaries, or (C) result in any premature disclosure thereof. In such a case,
the Company shall not disclose to the Investors any facts or circumstances
constituting material non-public information, without the prior written consent
of Investors. The duration of the MFN Period provided for in the Purchase
Agreement will be extended by the number of days of any termination or
suspension of the effectiveness of any registration contemplated by this
Section.

          (d) Underwritten Offering.  If any offering pursuant to a Registration
              ---------------------
Statement pursuant to Section 2(a) hereof involves an underwritten offering, the
Investors shall have the right to select an investment banker and manager to
administer the offering, which investment banker or manager shall be reasonably
satisfactory to the Company.

          (e) Promptly following the issuance of any Additional Registrable
Securities, the Company shall file a Registration Statement, which may serve as
a post-effective amendment to any other registrations statement, and use its
best efforts to have such Registration Statement covering the Additional
Registrable Securities declared effective as soon as possible.  All time
periods, provisions and remedies covering the registration of Registrable
Securities shall apply, mutatis mutandis, to the registration of the Additional
Registrable Securities.

          (f) Upon becoming eligible to file registration statements on Form S-
3 for secondary offerings, the Company shall file with the Commission such
amendments to the Registration Statement and the prospectus used in connection
therewith as may be necessary to convert the Registration Statement from a
registration statement on Form S-1 to a registration statement on Form S-3.

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          3.  Company Obligations.  The Company will use its best efforts to
              -------------------
effect the registration of the Registrable Securities and Additional Registrable
Securities in accordance with the terms hereof, and pursuant thereto the Company
will, as expeditiously as possible:

                (a) use its best efforts to cause such Registration Statement to
become effective and to remain continuously effective for a period that will
terminate upon the earlier of the date on which all Registrable Securities or
Additional Registrable Securities, as the case may be, covered by such
Registration Statement, as amended from time to time, have been sold or until
such time as they become eligible for distribution pursuant to Rule 144(k), or
any successor provision thereof, under the 1933 Act (the "Registration Period");

                (b) prepare and file with the SEC such amendments and post-
effective amendments to the Registration Statement and the Prospectus as may be
necessary to keep the Registration Statement effective for the period specified
in Section 3(a) and to comply with the provisions of the 1933 Act and the 1934
Act with respect to the distribution of all Registrable Securities and
Additional Registrable Securities; provided that, at a time reasonably prior to
the filing of a Registration Statement or Prospectus, or any amendments or
supplements thereto, the Company will furnish to the Investors copies of all
documents proposed to be filed, which documents will be subject to the comments
of the Investors;

                (c) permit a single firm of counsel designated by the Investors
to review the Registration Statement and all amendments and supplements thereto
no fewer than ten (10) days prior to their filing with the SEC, and not file any
document in a form to which such counsel reasonably objects;

                (d) furnish to the Investors and their legal counsel (i)
promptly after the same is prepared and publicly distributed, filed with the
SEC, or received by the Company, one copy of the Registration Statement and any
amendment thereto, each preliminary prospectus and Prospectus and each amendment
or supplement thereto, and each letter written by or on behalf of the Company to
the SEC or the staff of the SEC, and each item of correspondence from the SEC or
the staff of the SEC, in each case relating to such Registration Statement
(other than any portion of any thereof which contains information for which the
Company has sought confidential treatment), and (ii) such number of copies of a
Prospectus, including a preliminary prospectus, and all amendments and
supplements thereto and such other documents as each Investor may reasonably
request in order to facilitate the disposition of the Registrable Securities and
Additional Registrable Securities owned by such Investor;

                (e) if the Investors select underwriters for the offering, the
Company shall enter into and perform its reasonable obligations under an
underwriting agreement, in usual and customary form, including, without
limitation, customary indemnification and contribution obligations, with the
underwriters of such offering;

                (f) at the request of the Investors, the Company shall furnish,
on the date that Registrable Securities or Additional Registrable Securities, as
applicable, are delivered to an underwriter, if any, for sale in connection with
the Registration Statement (i) an opinion, dated as of such date, from counsel
representing the Company for purposes of such Registration

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Statement, in form, scope and substance as is customarily given in an
underwritten public offering, addressed to the underwriter and the Investors and
(ii) a letter, dated such date, from the Company's independent certified public
accountants in form and substance as is customarily given by independent
certified public accountants to underwriters in an underwritten public offering,
addressed to the underwriters and the Investors;

                (g) make reasonable effort to prevent the issuance of any stop
order or other suspension of effectiveness and, if such order is issued, obtain
the withdrawal of any such order at the earliest possible moment;

                (h) furnish to each Investor at least five copies of the
Registration Statement and any post-effective amendment thereto, including
financial statements and schedules by courier pursuant to the notice
requirements of Section 11.4 of the Purchase Agreement;

                (i) prior to any public offering of Registrable Securities or
Additional Registrable Securities, use its best efforts to register or qualify
or cooperate with the Investors and their counsel in connection with the
registration or qualification of such Registrable Securities or Additional
Registrable Securities, as applicable, for offer and sale under the securities
or blue sky laws of all U.S. jurisdictions and do any and all other reasonable
acts or things necessary or advisable to enable the distribution in such
jurisdictions of the Registrable Securities or Additional Registrable Securities
covered by the Registration Statement, provided the Company shall not be
required to provide a general consent to the service of process in any
jurisdiction in which its business or operations does not otherwise require such
consent;

                (j) cause all Registrable Securities or Additional Registrable
Securities covered by the Registration Statement to be listed on each securities
exchange, interdealer quotation system or other market on which similar
securities issued by the Company are then listed;

                (k) immediately notify the Investors, at any time when a
Prospectus relating to the Registrable Securities or Additional Registrable
Securities is required to be delivered under the Securities Act, upon discovery
that, or upon the happening of any event as a result of which, the Prospectus
included in such Registration Statement, as then in effect, includes an untrue
statement of a material fact or omits to state any material fact required to be
stated therein or necessary to make the statements therein not misleading in the
light of the circumstances then existing, and at the request of any such holder,
promptly prepare and furnish to such holder a reasonable number of copies of a
supplement to or an amendment of such Prospectus as may be necessary so that, as
thereafter delivered to the purchasers of such Registrable Securities or
Additional Registrable Securities, as applicable, such Prospectus shall not
include an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances then existing; and

                (l) otherwise use its best efforts to comply with all applicable
rules and regulations of the SEC under the 1933 Act and the 1934 Act, take such
other actions as may be

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reasonably necessary to facilitate the registration of the Registrable
Securities and Additional Registrable Securities hereunder.

          4.  Obligations of the Investors.
              ----------------------------

                (a) It shall be a condition precedent to the obligations of the
Company to complete the registration pursuant to this Agreement with respect to
the Registrable Securities or Additional Registrable Securities, if applicable,
that each Investor shall furnish in writing to the Company such information
regarding itself, the Registrable Securities or Additional Registrable
Securities, as applicable, held by it and the intended method of disposition of
the Registrable Securities or Additional Registrable Securities, as applicable,
held by it as shall be reasonably required to effect the registration of such
Registrable Securities or Additional Registrable Securities, as applicable, and
shall execute such documents in connection with such registration as the Company
may reasonably request.  At least ten (10) business days prior to the first
anticipated filing date of the Registration Statement, the Company shall notify
each Investor of the information the Company requires from such Investor if such
Investor elects to have any of the Registrable Securities or Additional
Registrable Securities included in the Registration Statement.

                (b) Each Investor, by its acceptance of the Registrable
Securities and Additional Registrable Securities, if any, agrees to cooperate
with the Company as reasonably requested by the Company in connection with the
preparation and filing of the Registration Statement hereunder, unless such
Investor has notified the Company in writing of its election to exclude all of
its Registrable Securities or Additional Registrable Securities, as applicable,
from the Registration Statement.

                (c) If the Investors determine to engage the services of an
underwriter, the Investors agrees to enter into and perform its obligations
under an underwriting agreement, in usual and customary form, including, without
limitation, customary indemnification and contribution obligations, with the
managing underwriter of such offering and take such other actions as are
reasonably required in order to expedite or facilitate the dispositions of the
Registrable Securities or Additional Registrable Securities, as applicable.

                (d) Each Investor agrees that, upon receipt of any notice from
the Company of the happening of any event rendering the Registration Statement
no longer effective, such Investor will immediately discontinue disposition of
Registrable Securities or Additional Registrable Securities pursuant to the
Registration Statement covering such Registrable Securities or Additional
Registrable Securities until such Investor's receipt of the copies of the
supplemented or amended prospectus filed with the SEC and declared effective
and, if so directed by the Company, such Investor shall deliver to the Company
(at the expense of the Company) or destroy (and deliver to the Company a
certificate of destruction) all copies in the Investor's possession of the
Prospectus covering the Registrable Securities or Additional Registrable
Securities, as applicable, current at the time of receipt of such notice.

                (e) No Investor may participate in any underwritten registration
hereunder unless it (i) agrees to sell the Registrable Securities or Additional
Registrable Securities, as

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applicable, on the basis provided in any underwriting arrangements in usual and
customary form entered into by the Company, (ii) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and
other documents reasonably required under the terms of such underwriting
arrangements, and (iii) agrees to pay its pro rata share of all underwriting
discounts and commissions and any expenses in excess of those payable by the
Company pursuant to the terms of this Agreement.

          5.  Indemnification.
              ---------------

                (a) Indemnification by Company.  The Company agrees to indemnify
                    --------------------------
and hold harmless, to the fullest extent permitted by law the Investors, each of
their officers, directors, partners and employees and each person who controls
the Investors (within the meaning of the 1933 Act) against all losses, claims,
damages, liabilities, costs (including, without limitation, reasonable
attorney's fees) and expenses imposed on such person caused by (i) any untrue or
alleged untrue statement of a material fact contained in any Registration
Statement, Prospectus or any preliminary prospectus or any amendment or
supplement thereto or any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, except insofar as the same are based upon any
information furnished in writing to the Company by such Investors, expressly for
use therein, or (ii) any violation by the Company of any federal, state or
common law, rule or regulation applicable to the Company in connection with any
Registration Statement, Prospectus or any preliminary prospectus, or any
amendment or supplement thereto, and shall reimburse in accordance with
subparagraph (c) below, each of the foregoing persons for any legal and any
other expenses reasonably incurred in connection with investigating or defending
any such claims. The foregoing is subject to the condition that, insofar as the
foregoing indemnities relate to any untrue statement, alleged untrue statement,
omission or alleged omission made in any preliminary prospectus or Prospectus
that is eliminated or remedied in any Prospectus or amendment or supplement
thereto, the above indemnity obligations of the Company shall not inure to the
benefit of any indemnified party if a copy of such corrected Prospectus or
amendment or supplement thereto had been made available to such indemnified
party and was not sent or given by such indemnified party at or prior to the
time such action was required of such indemnified party by the 1933 Act and if
delivery of such Prospectus or amendment or supplement thereto would have
eliminated (or been a sufficient defense to) any liability of such indemnified
party with respect to such statement or omission. Indemnity under this Section
5(a) shall remain in full force and effect regardless of any investigation made
by or on behalf of any indemnified party and shall survive the permitted
transfer of the Registrable Securities and Additional Registrable Securities.

                (b) Indemnification by Holder of Registrable Securities.  In
                    ---------------------------------------------------
connection with any registration pursuant to the terms of this Agreement, each
Investor will furnish to the Company in writing such information as the Company
reasonably requests concerning the holders of Registrable Securities and
Additional Registrable Securities or the proposed manner of distribution for use
in connection with any Registration Statement or Prospectus and agrees,
severally but not jointly, to indemnify and hold harmless, to the fullest extent
permitted by law, the Company, its directors, officers, employees, stockholders
and each person who controls the Company (within the meaning of the 1933 Act)
against any losses, claims, damages, liabilities

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and expense (including reasonable attorney's fees) resulting from any untrue
statement of a material fact or any omission of a material fact required to be
stated in the Registration Statement or Prospectus or preliminary prospectus or
amendment or supplement thereto or necessary to make the statements therein not
misleading, to the extent, but only to the extent that such untrue statement or
omission is contained in any information furnished in writing by the holder of
Registrable Securities or Additional Registrable Securities to the Company
specifically for inclusion in such Registration Statement or Prospectus or
amendment or supplement thereto. In no event shall the liability of a holder of
Registrable Securities or Additional Registrable Securities be greater in amount
than the dollar amount of the proceeds received by such holder upon the sale of
the Registrable Securities or Additional Registrable Securities included in the
Registration Statement giving rise to such indemnification obligation.

                (c) Conduct of Indemnification Proceedings. Any person entitled
                    --------------------------------------
to indemnification hereunder shall (i) give prompt notice to the indemnifying
party of any claim with respect to which it seeks indemnification and (ii)
permit such indemnifying party to assume the defense of such claim with counsel
reasonably satisfactory to the indemnified party; provided that any person
                                                  --------
entitled to indemnification hereunder shall have the right to employ separate
counsel and to participate in the defense of such claim, but the fees and
expenses of such counsel shall be at the expense of such person unless (a) the
indemnifying party has agreed to pay such fees or expenses, or (b) the
indemnifying party shall have failed to assume the defense of such claim and
employ counsel reasonably satisfactory to such person or (c) in the reasonable
judgment of any such person, based upon written advice of its counsel, a
conflict of interest exists between such person and the indemnifying party with
respect to such claims (in which case, if the person notifies the indemnifying
party in writing that such person elects to employ separate counsel at the
expense of the indemnifying party, the indemnifying party shall not have the
right to assume the defense of such claim on behalf of such person); and
provided, further, that the failure of any indemnified party to give notice as
--------  -------
provided herein shall not relieve the indemnifying party of its obligations
hereunder, except to the extent that such failure to give notice shall
materially adversely affect the indemnifying party in the defense of any such
claim or litigation. It is understood that the indemnifying party shall not, in
connection with any proceeding in the same jurisdiction, be liable for fees or
expenses of more than one separate firm of attorneys at any time for all such
indemnified parties. No indemnifying party will, except with the consent of the
indemnified party, consent to entry of any judgment or enter into any settlement
that does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such indemnified party of a release from all liability
in respect to such claim or litigation.

                (d) Contribution.  If for any reason the indemnification
                    ------------
provided for in the preceding paragraphs (a) and (b) is unavailable to an
indemnified party or insufficient to hold it harmless, other than as expressly
specified therein, then the indemnifying party shall contribute to the amount
paid or payable by the indemnified party as a result of such loss, claim, damage
or liability in such proportion as is appropriate to reflect the relative fault
of the indemnified party

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and the indemnifying party, as well as any other relevant equitable
considerations. No person guilty of fraudulent misrepresentation within the
meaning of Section 11(f) of the 1933 Act shall be entitled to contribution from
any person not guilty of such fraudulent misrepresentation. In no event shall
the contribution obligation of a holder of Registrable Securities or Additional
Registrable Securities be greater in amount than the dollar amount of the
proceeds received by it upon the sale of the Registrable Securities or
Additional Registrable Securities giving rise to such contribution obligation.

          6.  Miscellaneous.
              -------------

                (a) Amendments and Waivers.  This Agreement may be amended only
                    ----------------------
by a writing signed by the parties hereto. The Company may take any action
herein prohibited, or omit to perform any act herein required to be performed by
it, only if the Company shall have obtained the written consent to such
amendment, action or omission to act, of each Investor.

                (b) Notices.  All notices and other communications provided for
                    -------
or permitted hereunder shall be made as set forth in Section 11.4 of the
Purchase Agreement.

                (c) Assignments and Transfers by Investors.  This Agreement and
                    --------------------------------------
all the rights and obligations of the Investors hereunder may not be assigned or
transferred to any transferee or assignee except as set forth herein. The
Investors may make such assignment or transfer to any transferee or assignee of
any Common Stock, Warrant or Registrable Securities, or Additional Registrable
Securities, provided, that (i) such transfer is made expressly subject to this
            --------
Agreement and the transferee agrees in writing to be bound by the terms and
conditions hereof, and (ii) the Company is provided with written notice of such
assignment.

                (d) Assignments and Transfers by the Company. This Agreement may
                    ----------------------------------------
not be assigned by the Company without the prior written consent of each
Investor, except that without the prior written consent of the Investors, but
after notice duly given, the Company shall assign its rights and delegate its
duties hereunder to any successor-in-interest corporation, and such
successor-in-interest shall assume such rights and duties, in the event of a
merger or consolidation of the Company with or into another corporation or the
sale of all or substantially all of the Company's assets.

                (e) Benefits of the Agreement.  The terms and conditions of this
                    -------------------------
Agreement shall inure to the benefit of and be binding upon the respective
permitted successors and assigns of the parties.  Nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as
expressly provided in this Agreement.

                (f) Counterparts.  This Agreement may be executed in two or more
                    ------------
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                                       9
<PAGE>

                (g) Titles and Subtitles.  The titles and subtitles used in this
                    --------------------
Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

                (h) Severability.  If one or more provisions of this Agreement
                    ------------
are held to be unenforceable under applicable law, such provision shall be
excluded from this Agreement and the balance of this Agreement shall be
interpreted as if such provision were so excluded and shall be enforceable in
accordance with its terms to the fullest extent permitted by law.

                (i) Further Assurances.  The parties shall execute and deliver
                    ------------------
all such further instruments and documents and take all such other actions as
may reasonably be required to carry out the transactions contemplated hereby and
to evidence the fulfillment of the agreements herein contained.

                (j) Entire Agreement.  This Agreement is intended by the parties
                    ----------------
as a final expression of their agreement and intended to be a complete and
exclusive statement of the agreement and understanding of the parties hereto in
respect of the subject matter contained herein. This Agreement supersedes all
prior agreements and understandings between the parties with respect to such
subject matter.

                (k) Applicable Law.  This Agreement shall be governed by, and
                    --------------
construed in accordance with, the laws of the State of New York without regard
to principles of conflicts of law.

[REMAINDER OF PAGE INTENTIONALLY BLANK]

                                       10
<PAGE>

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

The Company:            IMAGINON, INC.

                        By:_________________________
                        Name:
                        Title:

The Investors:          [___________________________]

                        By:_________________________
                        Name:
                        Title:

                        By:_________________________
                        Name:
                        Title:

                                       11<PAGE>

                                                                  EXHIBIT 10.23C

     THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE
ABSENCE OF A REGISTRATION STATEMENT COVERING THIS WARRANT UNDER SAID ACT OR AN
EXEMPTION FROM REGISTRATION UNDER SAID ACT.

     VOID AFTER 5:00 P.M. EASTERN TIME ON MARCH 30, 2002 ("EXPIRATION DATE").

                                 IMAGINON, INC.

                     WARRANT TO PURCHASE _______ SHARES OF
                    COMMON STOCK, PAR VALUE $0.01 PER SHARE

     This is to certify that, for VALUE RECEIVED, ("Warrantholder"), is entitled
to purchase, subject to the provisions of this Warrant, from ImaginOn, Inc., a
corporation organized under the laws of Delaware, USA ("Company"), at any time
not later than 5:00 P.M., Eastern time, on the Expiration Date, at an exercise
price per share equal to $3.34 (the exercise price in effect from time to time
hereafter being herein called the "Warrant Price") ________ shares ("Warrant
Shares") of Common Stock, par value $0.01per share ("Common Stock"). The number
of Warrant Shares purchasable upon exercise of this Warrant and the Warrant
Price shall be subject to adjustment from time to time as described herein.

     This Warrant has been issued pursuant to the terms of the Purchase
Agreement dated on or about the date hereof between the Company and the
Warrantholder.  Capitalized terms used herein and not defined shall have the
meaning specified in the Purchase Agreement.

          Section 1.  Registration.  The Company shall maintain books for the
                      ------------
transfer and registration of the Warrant.  Upon the initial issuance of the
Warrant, the Company shall issue and register the Warrant in the name of the
Warrantholder.

          Section 2.  Transfers.  As provided herein, the Warrant may be
                      ---------
transferred only pursuant to a registration statement filed under the Securities
Act of 1933, as amended ("1933 Act") or an exemption from registration
thereunder.  Subject to such restrictions, the Company shall transfer from time
to time, the Warrant, upon the books to be maintained by the Company for that
purpose, upon surrender thereof for transfer properly endorsed or  accompanied
by appropriate instructions for transfer upon any such transfer, and a new
Warrant shall be issued to the transferee and the surrendered Warrant shall be
canceled by the Company.

          Section 3.  Exercise of Warrant.  Subject to the provisions hereof,
                      -------------------
the

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Warrantholder may exercise the Warrant in whole or in part at any time upon
surrender of the Warrant, together with delivery of the duly executed Warrant
exercise form attached hereto (the "Exercise Agreement"), to the Company during
normal business hours on any business day at the Company's principal executive
offices (or such other office or agency of the Company as it may designate by
notice to the holder hereof), and upon (i) payment to the Company in cash, by
certified or official bank check or by wire transfer for the account of the
Company of the Warrant Price for the Warrant Shares specified in the Exercise
Agreement or (ii) delivery to the Company of a written notice of an election to
effect a "Cashless Exercise" (as defined below) for the Warrant Shares specified
in the Exercise Agreement.  The Warrant Shares so purchased shall be deemed to
be issued to the holder hereof or such holder's designee, as the record owner of
such shares, as of the close of business on the date on which this Warrant shall
have been surrendered (or evidence of loss, theft or destruction thereof), the
completed Exercise Agreement shall have been delivered, and payment shall have
been made for such shares as set forth above.  Certificates for the Warrant
Shares so purchased, representing the aggregate number of shares specified in
the Exercise Agreement, shall be delivered to the holder hereof within a
reasonable time, not exceeding two (2) business days, after this Warrant shall
have been so exercised.  The certificates so delivered shall be in such
denominations as may be requested by the holder hereof and shall be registered
in the name of such holder or such other name as shall be designated by such
holder.  If this Warrant shall have been exercised only in part, then, unless
this Warrant has expired, the Company shall, at its expense, at the time of
delivery of such certificates, deliver to the holder a new Warrant representing
the number of shares with respect to which this Warrant shall not then have been
exercised.

          To effect a Cashless Exercise, the holder shall submit to the Company
with the Exercise Agreement, written notice of the holder's intention to do so,
including a calculation of the number of shares of Common Stock to be issued
upon such exercise in accordance with the terms hereof.  In the event of a
Cashless Exercise, in lieu of paying the Warrant Price in cash, the holder shall
surrender this Warrant for that number of shares of Common Stock determined by
multiplying the number of Warrant Shares to which it would otherwise be entitled
by a fraction, the numerator of which shall be the difference between the then
current Market Price per share of the Common Stock and the Warrant Price, and
the denominator of which shall be the then current Market Price per share of the
Common Stock.  For this purpose, the "Market Price" of the Common Stock shall be
the average of the closing bid prices of the Common Stock as reported by the
Nasdaq Small Cap Market for the thirty (30) trading days immediately preceding
the exercise date.

          Section 4.  Compliance with the Securities Act of 1933.  Neither this
                      ------------------------------------------
Warrant nor the Common Stock issued upon exercise hereof nor any other security
issued or issuable upon exercise of this Warrant may be offered or sold except
as provided in this agreement and in conformity with the 1933 Act and then only
against receipt of an agreement of such person to whom such offer of sale is
made to comply with the provisions of this Section 4 with respect to any resale
or other disposition of such security.  The Company may cause the legend set
forth on the first page of this Warrant to be set forth on each Warrant or
similar legend on any security issued or issuable upon exercise of this Warrant
until the Warrant Shares have been registered for resale under the Registration
Rights Agreement or until Rule 144(k) is available, unless counsel

                                       2
<PAGE>

for the Company is of the opinion as to any such security that such legend is
unnecessary.

          Section 5.  Payment of Taxes.  The Company will pay any documentary
                      ----------------
stamp taxes attributable to the initial issuance of Warrant Shares issuable upon
the exercise of the Warrant; provided, however, that the Company shall not be
required to pay any tax or taxes which may be payable in respect of any transfer
involved in the issue or delivery of any certificates for Warrant Shares in a
name other than that of the registered holder of the Warrant in respect of which
such shares are issued, and in such case, the Company shall not be required to
issue or deliver any certificate for Warrant Shares or any Warrant until the
person requesting the same has paid to the Company the amount of such tax or has
established to the Company's satisfaction that such tax has been paid.  The
holder shall be responsible for income taxes due under federal or state law, if
any such tax is due.

          Section 6.  Mutilated or Missing Warrants.  In case the Warrant shall
                      -----------------------------
be mutilated, lost, stolen, or destroyed, the Company shall issue in exchange
and substitution of and upon cancellation of the mutilated Warrant, or in lieu
of and substitution for the Warrant lost, stolen or destroyed, a new Warrant of
like tenor and for the purchase of a like number of Warrant Shares, but only
upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction of the Warrant, and with respect to a lost, stolen or
destroyed Warrant, reasonable indemnity or bond, if requested by the Company.

          Section 7.  Reservation of Common Stock.  The Company hereby
                      ---------------------------
represents and warrants that there have been reserved, and the Company shall at
all applicable times keep reserved, out of the authorized and unissued Common
Stock, a number of shares sufficient to provide for the exercise of the rights
of purchase represented by the Warrant, and the transfer agent for the Common
Stock ("Transfer Agent"), and every subsequent transfer agent for the Common
Stock or other shares of the Company's capital stock issuable upon the exercise
of any of the right of purchase aforesaid, shall be irrevocably authorized and
directed at all times to reserve such number of authorized and unissued shares
of Common Stock as shall be requisite for such purpose.  The Company agrees that
all Warrant Shares issued upon exercise of the Warrant shall be, at the time of
delivery of the certificates for such Warrant Shares, duly authorized, validly
issued, fully paid and non-assessable shares of Common Stock of the Company.
The Company will keep a conformed copy of this Warrant on file with the Transfer
Agent and with every subsequent transfer agent for the Common Stock or other
shares of the Company's capital stock issuable upon the exercise of the rights
of purchase represented by the Warrant.  The Company will supply from time to
time the Transfer Agent with duly executed stock certificates required to honor
the outstanding Warrant.

          Section 8.  Warrant Price.  The Warrant Price, subject to adjustment
                      -------------
as provided in Section 9 hereof, shall, if payment is made in cash or by
certified check, be payable in lawful money of the United States of America.

          Section 9.  Adjustments.  Subject and pursuant to the provisions of
                      -----------
this Section 9, the Warrant Price and number of Warrant Shares subject to this
Warrant shall be subject to adjustment from time to time as set forth
hereinafter.

                                       3
<PAGE>

          (a) If the Company shall at any time or from time to time while the
Warrant is outstanding, pay a dividend or make a distribution on its Common
Stock in shares of Common Stock, subdivide its outstanding shares of Common
Stock into a greater number of shares or combine its outstanding shares into a
smaller number of shares or issue by reclassification of its outstanding shares
of Common Stock any shares of its capital stock (including any such
reclassification in connection with a consolidation or merger in which the
Company is the continuing corporation), then the number of Warrant Shares
purchasable upon exercise of the Warrant and the Warrant Price in effect
immediately prior to the date upon which such change shall become effective,
shall be adjusted by the Company so that the Warrantholder thereafter exercising
the Warrant shall be entitled to receive the number of shares of Common Stock or
other capital stock which the Warrantholder would have received if the Warrant
had been exercised immediately prior to such event.  Such adjustment shall be
made successively whenever any event listed above shall occur.

          (b) If any capital reorganization, reclassification of the capital
stock of the Company, consolidation or merger of the Company with another
corporation, or sale, transfer or other disposition of all or substantially all
of the Company's properties to another corporation shall be effected, then, as a
condition of such reorganization, reclassification, consolidation, merger, sale,
transfer or other disposition, lawful and adequate provision shall be made
whereby each Warrantholder shall thereafter have the right to purchase and
receive upon the basis and upon the terms and conditions herein specified and in
lieu of the Warrant Shares immediately theretofore issuable upon exercise of the
Warrant, such shares of stock, securities or properties as may be issuable or
payable with respect to or in exchange for a number of outstanding Warrant
Shares equal to the number of Warrant Shares immediately theretofore issuable
upon exercise of the Warrant, had such reorganization, reclassification,
consolidation, merger, sale, transfer or other disposition not taken place, and
in any such case appropriate provision shall be made with respect to the rights
and interests of each Warrantholder to the end that the provisions hereof
(including, without limitations, provision for adjustment of the Warrant Price)
shall thereafter be applicable, as nearly equivalent as may be practicable in
relation to any shares of stock, securities or properties thereafter deliverable
upon the exercise thereof.  The Company shall not effect any such consolidation,
merger, sale, transfer or other disposition unless prior to or simultaneously
with the consummation thereof the successor corporation (if other than the
Company) resulting from such consolidation or merger, or the corporation
purchasing or otherwise acquiring such assets or other appropriate corporation
or entity shall assume, by written instrument executed and delivered to the
Company, the obligation to deliver to the holder of the Warrant such shares of
stock, securities or assets as, in accordance with the foregoing provisions,
such holder may be entitled to purchase and the other obligations under this
Warrant.  The provisions of this paragraph (b) shall similarly apply to
successive reorganizations, reclassifications, consolidations, mergers, sales,
transfers or other dispositions.

          (c) In case the Company shall fix a record date for the making of a
distribution to all holders of Common Stock (including any such distribution
made in connection with a consolidation or merger in which the Company is the
continuing corporation) of evidences of indebtedness or assets (other than cash
dividends or cash distributions payable out of consolidated earnings or earned
surplus or dividends or distributions referred to in Section 9(a)),

                                       4
<PAGE>

or subscription rights or warrants, the Warrant Price to be in effect after such
record date shall be determined by multiplying the Warrant Price in effect
immediately prior to such record date by a fraction, the numerator of which
shall be the total number of shares of Common Stock outstanding multiplied by
the Market Price per share of Common Stock (as determined pursuant to Section
3), less the fair market value (as determined by the Company's Board of
Directors in good faith) of said assets or evidences of indebtedness so
distributed, or of such subscription rights or warrants, and the denominator of
which shall be the total number of shares of Common Stock outstanding multiplied
by such current Market Price per share of Common Stock.  Such adjustment shall
be made successively whenever such a record date is fixed.

          (d) If the Company shall at any time or from time to time after the
date of issuance hereof issue or sell in a financing transaction (which shall
not include any sales or issuances of Common Stock after the date hereof
pursuant to contractual obligations in effect on the date hereof), (A) any
shares of Common Stock for a consideration per share less than the Warrant Price
(as defined above) on the date of such issuance or (B) any securities
convertible into shares of Common Stock ("Convertible Securities") for which the
conversion or exercise price (which, for the purposes of this Section 9(d),
shall be the total obtained by dividing (x) the total amount received by the
Company as consideration for the issuance of such Convertible Securities plus
any amount payable to the Company on conversion or exercise thereof, by (y) the
number of shares of Common Stock issuable upon the conversion or exercise
thereof) is less than the Warrant Price (as defined above) on the date of such
issuance, then the Warrant Price shall be reduced to a price equal to 125% of
such per share consideration, or conversion or exercise price. Such adjustments
shall be made successively whenever such sales are made.

          (e) An adjustment shall become effective immediately after the record
date in the case of each dividend or distribution and immediately after the
effective date of each other event which requires an adjustment.

          (f) If, as a result of an adjustment made pursuant to Section 9, the
holder of the Warrant shall become entitled to receive any shares of capital
stock of the Company other than shares of Common Stock, the number of such other
shares so receivable upon exercise of the Warrant shall be subject thereafter to
adjustment from time to time in a manner and on terms as nearly equivalent as
practicable to the provisions with respect to the Warrant Shares contained in
this Warrant.

          Section 10.  Fractional Interest.  The Company shall not be required
                       -------------------
to issue fractions of Warrant Shares upon the exercise of the Warrant.  If any
fraction of a Warrant Share would, except for the provisions of this Section, be
issuable upon the exercise of the Warrant (or specified portions thereof), the
Company shall round such calculation to the nearest whole number and disregard
the fraction.

          Section 11.  Benefits.  Nothing in this Warrant shall be construed to
                       --------
give any person, firm or corporation (other than the Company and the
Warrantholder) any legal or equitable right, remedy or claim, it being agreed
that this Warrant shall be for the sole and exclusive benefit of the Company and
the Warrantholder.

                                       5
<PAGE>

          Section 12.  Notices to Warrantholder.  Upon the happening of any
                       ------------------------
event requiring an adjustment of the Warrant Price, the Company shall forthwith
give written notice thereof to the Warrantholder at the address appearing in the
records of the Company and in the manner provided by Section 14 hereof, stating
the adjusted Warrant Price and the adjusted number of Warrant Shares resulting
from such event and setting forth in reasonable detail the method of calculation
and the facts upon which such calculation is based.  The certificate of the
Company's independent certified public accountants shall be conclusive evidence
of the correctness of any computation made, absent manifest error.  Failure to
give such notice to the Warrantholder or any defect therein shall not affect the
legality or validity of the subject adjustment.

          Section 13.  Identity of Transfer Agent.  The Transfer Agent for the
                       --------------------------
Common Stock is Corporate Stock Transfer.  Forthwith upon the appointment of any
subsequent transfer agent for the Common Stock or other shares of the Company's
capital stock issuable upon the exercise of the rights of purchase represented
by the Warrant, the Company will fax to the Warrantholder a statement setting
forth the name and address of such transfer agent.

          Section 14.  Notices.  Any notice pursuant hereto to be given or made
                       -------
by the Warrantholder to or on the Company shall be sufficiently given or made
personally or if sent by an internationally recognized courier by next day or
two day delivery service, addressed as follows:

         ImaginOn, Inc.
         1313 Laurel Street, Suite No. 1
         San Carlos, CA 94070
         USA
         Telephone: (650) 596 9300
         Telefax: (650) 596 9350
         Attention: Chief Executive Officer

or such other address as the Company may specify in writing by notice to the
Warrantholder complying as to delivery with the terms of this Section 14.

          Any notice pursuant hereto to be given or made by the Company to the
Warrantholder shall be sufficiently given or made if personally delivered or if
sent by an internationally recognized courier service by next day or two-day
service, to the address set forth on the books of the Company or, as to each of
the Company and the Warrantholder, at such other address as shall be designated
by such party by written notice to the other party complying as to delivery with
the terms of this Section 14.

          All such notices, requests, demands, directions and other
communications shall, when sent by courier, be effective two (2) days after
delivery to such courier as provided and addressed as aforesaid.

          Section 15.  Registration Rights.  The initial holder of this Warrant
                       -------------------
is entitled to

                                       6
<PAGE>

the benefit of certain registration rights in respect of the Warrant Shares as
provided in the Registration Rights Agreement.

          Section 16.  Successors.  All the covenants and provisions hereof by
                       ----------
or for the benefit of the Investor shall bind and inure to the benefit of its
respective successors and assigns hereunder.

          Section 17.  Governing Law.  This Warrant shall be deemed to be a
                       -------------
contract made under the laws of the State of New York, and for all purposes
shall be construed in accordance with the laws of said State.

                                       7
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Warrant to be duly
executed, as of the day and year first above written.

                              IMAGINON, INC.

                              By:________________________________
                                 Name: David M. Schwartz
                                 Title Chief Executive Officer

Attest:

______________________________
James A. Newcomb
Chief Financial Officer

                                       8
<PAGE>

                                 IMAGINON, INC.
                             WARRANT EXERCISE FORM

ImaginOn, Inc.
1313 Laurel Street, Suite No. 1
San Carlos, CA 94070
USA
Attention:  Chief Executive Officer

     This undersigned hereby irrevocably elects to exercise the right of
purchase represented by the within Warrant ("Warrant") for, and to purchase
thereunder by (CHECK AS APPLICABLE) [_] payment by cash, wire or certified
check; [_] conversion of the within Warrant by surrender of the Warrant,
_______________ shares of Common Stock* ("Warrant Shares") provided for therein,
and requests that certificates for the Warrant Shares be issued as follows:

                            ________________________________
                            Name

                            ________________________________
                            Address

                            ________________________________

                            ________________________________

and, if the number of Warrant Shares shall not be all the Warrant Shares
purchasable upon exercise of the Warrant, that a new Warrant for the balance of
the Warrant Shares be issued.

*  NOTE:  If conversion of the Warrant is made by surrender of the Warrant and
          the number of shares indicated exceeds the maximum number of shares to
          which a holder is entitled, the Company will issue such maximum number
          of shares purchasable upon exercise of the Warrant be registered in
          the name of the undersigned Warrantholder or the undersigned's
          Assignee as below indicated and delivered to the address stated below.

Dated:___________________, ____

                              Signature:__________________________________

                                        __________________________________
                                        Name (please print)

                                        __________________________________
                                        Address

                                        __________________________________

<PAGE>

SCHEDULE  4.1--SUBSIDIARIES

   ImaginOn Inc., a Delaware corporation, operates through three subsidiaries:

1. ImaginOn.com- a California corporations in good standing

2. iNow, a California corporation in good standing, acquired in February, 1999

3. ImaginOn Digital Productions (IDP), a Colorado corporation in good standing,
   also acquired in 1999.
<PAGE>

--------------------------------------------------------------------------------

     IMAGINON, INC. - Schedule 4.3

     (a)  Authorized capital stock of the Company:

               Common stock                 50,000,000 shares
               Preferred stock               5,000,000 shares

     (b)  Number of shares of capital stock issued and
          outstanding

               Common stock:                41,205,887 shares

               Preferred stock, Series F          4000 shares

     Note:  Information provided above excerpted from the September 30, 1999,
            Form 10-QSB.

     (c)  2.5 million shares to be issued under employee equity incentive plan
          over 10 years.

     (d)  IMAGINON

            Common stock issuable upon conversion of
            series F Preferred Stock                      2,836,905

            Common stock issuable upon exercise of
            group F warrant                                 122,553

            Shares issuable under options outstanding
            under 1994 stock option plan                         0

            Shares issuable under options outstanding
            under 1997 stock option plan                    847,302

            Shares issuable under warrants to
            purchase common stock                           519,845

            Shares issuable under options
            issued in 1998                                1,100,000
                                                          ---------
                                                          5,426,605

     Note:  Information above excerpted from S-1/A filing and other SEC filings
<PAGE>

        SCHEDULE 4.8-NO MATERIAL ADVERSE CHANGE

        NONE.

<PAGE>

   SCHEDULE 4.11- NO MATERIAL BREACH,VIOLATION, OR DEFAULT

   NONE.
<PAGE>

--------------------------------------------------------------------------------

              4.16  Intellectual Property
                    ---------------------

Trademarks

     The Company has one registered trademark and eighteen pending trademark
applications and will aggressively file new applications as appropriate.  The
following table sets out the Company's trademarks.

<TABLE>
<CAPTION>
                      Mark                                        Registration/Application  No.
                      ----                                        -----------------------------
                  <S>                                             <C>
                   IMAGINON                                           U.S. Reg. No. 2,255,045
                 WEBZINGER (Stylized)                                 App. Ser. No. 75/746,739
                 STOP SEARCHING, START ZINGING                        App. Ser. No. 75/742,124
                 YOUR PERSONAL RESEARCH ENGINE                        App. Ser. No. 75/742,195
                 WEBZINGER MASCOT DESIGN                              App. Ser. No. 75/746,740
                 WORLD CITIES 2000 and Design                         App. Ser. No. 75/746,737
                 WEBZINGER (Stylized)                                 App. Ser. No. 75/750,694
                 THE WORLD'S FIRST RESEARCH ENGINE                    App. Ser. No. 75/750,693
                 IMAGINON                                           Filed:  November 10, 1999.
                                                                      Awaiting serial number.
                 IMAGINON and Design                                Filed:  November 10, 1999.
                                                                      Awaiting serial number.
                 IMON.COM'                                          Filed:  November 23, 1999.
                                                                      Awaiting serial number.
                 IMON.COM and Design                                Filed:  November 23, 1999.
                                                                      Awaiting serial number.
                 LIVE AT A HIGHER BANDWIDTH                         Filed:  December 15, 1999.
                                                                      Awaiting serial number.
</TABLE>
------------------------------
/1/ On October 4, 1999, the Company received a letter from ImOn, Inc., the owner
of the IMON.NET domain name, demanding that the Company cease its use of the
IMON and IMON.COM names and marks. The Company responded to this demand,
asserted the basis for the Company's rights in the IMON and IMON.COM names and
marks, and believes that this matter has been resolved.

--------------------------------------------------------------------------------
<PAGE>

--------------------------------------------------------------------------------
<TABLE>
                 <S>                                                <C>

                 WORLDCITIES 2000                                   Filed:  November 10, 1999.
                                                                      Awaiting serial number.
                 IMAGINAUTHOR                                       Filed:  December 15, 1999.
                                                                      Awaiting serial number.
                 IMAGINAUTHOR and Design                            Filed:  December 15, 1999.
                                                                      Awaiting serial number.
                 IMON.COM TV                                        Filed:  December 15, 1999.
                                                                      Awaiting serial number.
                 IMON.COM                                           Filed:  December 15, 1999.
                                                                      Awaiting serial number.
                 IMON.COM and Design                                Filed:  December 15, 1999.
                                                                      Awaiting serial number.
</TABLE>

Patents

     The Company's technology is covered by two U.S. patents.  U.S. Patent No.
5,905,988, owned by the Company, covers the Company's proprietary method and
apparatus for database transformation and adaptive playback.  The Company's
technology is also covered by a patent licensed from Atari.  U.S. Patent No.
5,607,356, licensed by the Company from Atari, covers an interactive game film.
The Company also owns U.S. Patent No. 5,969,559, which covers a method and
apparatus that uses the power grid for clock distribution in semiconductor
integrated circuits.

     There can be no assurance that these patents will provide a competitive
advantage or will afford protection against competitors with similar technology,
or that such patents will not be challenged successfully or circumvented by
competitors.

Copyrights

     The Company will pursue an aggressive proprietary strategy.  To that end,
the Company is in the process of filing multiple copyright applications covering
its source code and other copyrightable proprietary information.

--------------------------------------------------------------------------------
<PAGE>

   SCHEDULE 4.19-FINANCIAL STATEMENTS

   NONE.

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