Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Coloured Industry Ltd. - Exhibit 10.7

EXHIBIT 10.7

SHARE EXCHANGE AGREEMENT

THIS AGREEMENT made as of the 23rd day of May, 2005 (the
"Effective Date"),

AMONG:

  
    
      
        EMCOR HOLDINGS INC., a company incorporated
          under the laws of the State of Nevada and having an address at 10478
          Nieretto Court Rancho Cordova, California 95670

        ("Purchaser")

      

    

  

AND:

  
    
      
        THE SHAREHOLDERS OF THE COMPANY SET OUT IN
          SCHEDULE “A”

        (individually a "Vendor" and collectively the
          "Vendors")

      

    

  

AND:

  
    
      
        COLOURED INDUSTRY LIMITED company number
          4752451 being a company duly incorporated pursuant to the laws of England
          and having an office at Suite 5.15, 130 Shaftesbury Avenue, London,
          England W1D 5EU

        ("Company") 

      

    

  

WHEREAS:

	A. 	
      the Vendors are the legal and beneficial owners of all of
      the issued and outstanding shares in the capital of the Company;

	 	 
	B. 	
      the Company is in the business of exploiting licensed
      technology relating to mobile phone content in the form of gaming and
      entertainment technology; and

	 	 
	C. 	
      further to a letter agreement dated April 18, 2005 the
      Vendors have agreed to sell the Company Shares to the Purchaser and the
      Purchaser has agreed to purchase the Company Shares from the Vendors, upon
      and subject to the terms and conditions set forth in this
  Agreement;

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the covenants and agreements herein contained (and other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged), the parties hereto do covenant and agree each with the other as
follows:

- 2 -

	1. 	
      INTERPRETATION

	 	 	 
	1.1 	
      Defined terms - The following terms have
      the following meanings in this Agreement:

	 	 	 
		(a) 	
      “Applicable Laws” means all applicable rules,
      policies, notices, orders and legislation of any kind whatsoever of any
      governmental authority, regulatory body having jurisdiction over the
      transactions contemplated hereby;

	 	 	 
		(b) 	
      “Closing” means the completion of the purchase and
      sale of the Company Shares as contemplated in this Agreement;

	 	 	 
		(c) 	
      “Closing Date” means the date of the Closing as
      mutually agreed upon by the parties hereto;

	 	 	 
		(d) 	
      “Company Financial Statements" means the audited
      financial statements of the Company for the fiscal years ended
      September,2003 and 2004 copies of which are attached hereto as Schedule
      "B" to this Agreement;

	 	 	 
		(e) 	
      "Company Shares" means all of the issued and
      outstanding shares in the capital of the Company;

	 	 	 
		(f) 	
      “Purchaser Shares” means the 12,000,000 common
      shares in the capital of the Purchaser to be issued to the Vendors as the
      Purchase Price;

	 	 	 
		(g) 	
      “Purchase Price” means the Purchaser Shares to be
      issued to the Vendors in consideration for the Company Shares;

	 	 	 
		(h) 	
      “Time of Closing” means 09.00 GMT on the Closing
      Date;

	 	 	 
		(i) 	
      “US Securities Act” means the United States
      Securities Act of 1933, as amended from time to time.

	 	 	 
	1.2 	
      Schedules - The following Schedules
      attached hereto constitute a part of this Agreement:

	 	 	 
		(a) 	
      Schedule A – Allocation of Purchase Price

	 	 	 
		(b) 	
      Schedule B – the Company Financial Statements

	 	 	 
		(c) 	
      Schedule C – the Company Assets and Material
    Contracts

	 	 	 
		(d) 	
      Schedule D –the Company Group Directors, Officers and Key
      Employees

	 	 	 
		(e) 	
      Schedule E – The Purchaser Material Contracts

	 	 	 
	1.3 	
      Headings - The headings in this Agreement
      are for reference only and do not constitute terms of the
  Agreement.

	 	 	 
	1.4 	
      Interpretation - Whenever the singular or
      masculine is used in this Agreement the same shall be deemed to include
      the plural or the feminine or the body corporate as the context may
      require.

- 3 -

	2. 	
      PURCHASE AND SALE

	 	 
	2.1 	
      Agreement - Upon and subject to the terms
      and conditions of this Agreement, each of the Vendors agrees to sell their
      Company Shares to the Purchaser, and the Purchaser agrees with the Company
      and each of the Vendors to purchase their Company Shares, on the Closing
      Date for the Purchase Price.

	 	 
	2.2 	
      Allocation of Purchase Price - The Purchase
      Price shall be paid by the issuance of the Purchaser Shares to the Vendors
      on the Closing Date as set out in Schedule “A”.

	 	 
	2.3 	
      Acknowledgements – Each Vendor acknowledges
      and agrees with the Purchaser that:

		(a) 	
      Regulation S. Each Vendor acknowledges and agrees
      that the Purchaser Shares will be offered and sold to the Vendor without
      such offers and sales being registered under the United States U.S.
      Securities Act of 1933 and will be issued to the Vendor in accordance with
      Rule 903 of Regulation S of the U.S. Securities Act in an “offshore
      transaction” within the meaning of Regulation S based on the
      representations and warranties of the Vendor in this Agreement. As such,
      each Vendor further acknowledges and agrees that all Purchaser Shares
      will, upon issuance, be “restricted securities” within the meaning of the
      U.S. Securities Act.

	 	 	 
		(b) 	
      Agreement Regarding Resale. Each Vendor agrees to
      resell the Purchaser Shares only in accordance with the provisions of
      Regulation S of the U.S. Securities Act, pursuant to registration under
      the U.S. Securities Act, or pursuant to an available exemption from
      registration pursuant to the U.S. Securities Act, and otherwise in
      accordance with all applicable state securities laws and the laws of any
      other jurisdiction. Each Vendor agrees that the Purchaser may require the
      opinion of legal counsel reasonably acceptable to the Purchaser in the
      event of any offer, sale, pledge or transfer of any of the Purchaser
      Shares by the Vendor pursuant to an exemption from registration under the
      U.S. Securities Act.

	 	 	 
	 	(c) 	
      Prohibition Against Hedging Transactions. Each
      Vendor agrees not to engage in hedging transactions with regard to the
      Purchaser Shares unless in compliance with the U.S. Securities
  Act.

	 	 	 
	 	(d) 	
      Right of Company to Refuse Transfer. Each Vendor
      agrees that the Purchaser will refuse to register any transfer of the
      Purchaser Shares not made in accordance with the provisions of Regulation
      S of the U.S. Securities Act, pursuant to registration under the U.S.
      Securities Act, pursuant to an available exemption from registration, or
      otherwise pursuant to this Agreement.

	 	 	 
	 	(e) 	
      No Obligation to Register. Each Vendor
      acknowledges that the Purchaser has not agreed and has no obligation to
      register the resale of the Purchaser Shares under the U.S. Securities
      Act.

	 	 	 
	 	(f) 	
      Share Certificates. Each Vendor acknowledges and
      agrees that all certificates representing the Purchaser Shares will be
      endorsed with the following legend in accordance with Regulation S of the
      U.S. Securities Act or such similar legend

- 4 -

as deemed advisable by legal counsel
for the Purchaser to ensure compliance with Regulation S of the U.S. Securities
Act and to reflect the status of the Purchaser Shares as restricted securities:

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE
"ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT. SUCH
SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN
EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM
REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT”

	3. 	
      REPRESENTATIONS AND WARRANTIES

	 	 	 	 
	3.1 	
      Concerning The Purchaser - In order to
      induce the Vendors to enter into this Agreement and complete their
      respective obligations hereunder, the Purchaser represents and warrants to
      the Vendors that:

	 	 	 	 
		(a) 	
      the Purchaser was and remains duly incorporated under the
      laws of the State of Nevada and is in good standing with respect to the
      filing of annual reports with the Nevada Secretary of State;

	 	 	 	 
		(b) 	
      The Purchaser is authorized to issue an unlimited number
      of common shares without par value, of which 5,000,000 common shares are
      issued and outstanding prior to completion of the private placement
      financing and the issue of the Purchaser Shares;

	 	 	 	 
		(c) 	
      there are no commitments, plans or arrangements of any
      kind whatsoever to issue shares of the Purchaser, nor are there any
      outstanding Securities of any kind whatsoever calling for the issuance of
      any of the unissued shares of The Purchaser save and except as
    follows:

	 	 	 	 
			(i) 	
      the shares of the Purchaser to be issued pursuant to this
      Agreement; and

	 	 	 	 
			(ii) 	
      a proposed private placement of 500,000 shares of the
      Purchaser to be issued at a price of US$0.25 per share;

	 	 	 	 
		(d) 	
      upon their issuance, the Purchaser Shares will be validly
      issued and outstanding fully paid and non-assessable common shares of the
      Purchaser registered as directed by the Vendors, free and clear of all
      trade restrictions (except as provided for herein) and, except as may be
      created by the Vendors, liens, charges or encumbrances of any kind
      whatsoever;

	 	 	 	 
		(e) 	
      The Purchaser has the corporate power to carry on the
      business carried on by it and to meet its obligations under this
      Agreement;

- 5 -

	 	(f) 	
      the books and records of Purchaser disclose all material
      financial transactions of the Purchaser since the Effective Date, and such
      transactions have been fairly and accurately recorded;

	 	 	 	 
	 	(g) 	
      there are no material liabilities of the Purchaser,
      whether direct, indirect, absolute, contingent or otherwise, since the
      Effective Date and such liabilities are recorded in the books and records
      of the Purchaser;

	 	 	 	 
	 	(h) 	
      since the Effective Date, there has not been any material
      adverse change to the financial position or condition of the Purchaser or
      any damage, loss or other change of any kind whatsoever in circumstances
      materially affecting the business, assets or listing of the Purchaser or
      the right or capacity of The Purchaser to carry on its business;

	 	 	 	 
	 	(i) 	
      the contracts and agreements included on Schedule "E" to
      this Agreement:

	 	 	 	 
	 		(i) 	
      constitute all of the material contracts and agreements
      of the Purchaser;

	 	 	 	 
	 		(ii) 	
      except as is noted on Schedule "E" to this Agreement, are
      in good standing in all respects and not in default in any
  respect;

	 	 	 	 
	 		(iii) 	
      except as is noted on Schedule "E" to this Agreement, can
      be terminated by the Purchaser on not more than one month's
  notice;

	 	 	 	 
	 	(j) 	
      all tax returns and reports of the Purchaser required by
      law to have been filed have been filed and are substantially true,
      complete and correct and all taxes and other government charges of any
      kind whatsoever have been paid or accrued in the Purchaser Financial
      Statements;

	 	 	 	 
	 	(k) 	
      the Purchaser has made all collections, deductions,
      remittances and payments of any kind whatsoever and filed all reports and
      returns required by it to be made or filed under the provisions of all
      applicable statutes requiring the making of collections, deductions,
      remittances or payments of any kind whatsoever in those jurisdictions in
      which it carries on business;

	 	 	 	 
	 	(l) 	
      the Purchaser has good and sufficient right and authority
      to enter into this Agreement and to carry out its obligations under this
      Agreement on the terms and conditions set forth herein and this Agreement
      is a binding agreement on the Purchaser enforceable against it in
      accordance with its terms and conditions;

	 	 	 	 
	 	(m) 	
      to the extent that they might prevent the Purchaser from
      meeting its obligations under this Agreement, there are no outstanding
      actions, suits, judgments, investigations or proceedings of any kind
      whatsoever against or affecting The Purchaser, at law or in equity or
      before or by any Federal, Provincial, State, Municipal or other
      governmental department, commission, board, bureau or agency of any kind
      whatsoever nor are there, to the best of its knowledge, any pending or
      threatened;

	 	 	 	 
	 	(n) 	
      to the best of its knowledge, the Purchaser is not in
      breach of any law, ordinance, statute, regulation, by-law, order or decree
      of any kind whatsoever;

- 6 -

	 	(o) 	
      the execution and delivery of this Agreement and the
      performance of its obligations under this Agreement will not:

	 	 	 	 
	 		(i) 	
      conflict with, or result in the breach of or the
      acceleration of any indebtedness under, or constitute default under, the
      Articles of Incorporation and Bylaws of the Purchaser, or any indenture,
      mortgage, agreement, lease, licence or other instrument of any kind
      whatsoever to which the Purchaser is a party or by which it is bound, or
      any judgment or order of any kind whatsoever of any Court or
      administrative body of any kind whatsoever by which the Purchaser is
      bound; or

	 	 	 	 
	 		(ii) 	
      to the best of its knowledge, result in the violation of
      any law, ordinance, statute, regulation, by-law, order or decree of any
      kind whatsoever by the Purchaser; and

	 	 	 	 
	 	(p) 	
      the Purchaser has not incurred any liability for brokers
      or finders fees of any kind whatsoever with respect to this Agreement or
      any transaction contemplated under this
Agreement.

	3.2 	
      Concerning the Company- In order to induce
      the Purchaser to enter into this Agreement and complete its obligations
      hereunder, the Company represents and warrants to The Purchaser
    that:

	 	 	 
		(a) 	
      It is duly incorporated under the laws of England and
      Wales and is in good standing with respect to the filing of annual returns
      with the Registrar of Companies;

	 	 	 
		(b) 	
      the authorized share capital of the Company consists of
      2,087,000 Ordinary A shares with a par value of ₤0.01 each and 245,000
      Ordinary B shares with a par value of ₤0.01 each of which 1,830,000
      Ordinary A shares and 257,000 Ordinary B shares are issued and outstanding
      as fully paid and non-assessable shares, registered in the names of the
      persons set out in Schedule A;

	 	 	 
		(c) 	
      except for the Company Shares, there are no other shares,
      options, warrants, convertible notes or debentures, agreements, documents,
      instruments or other writings of any kind whatsoever which constitute a
      "security" of the Company and, except as is provided for in this
      Agreement, there are no options, agreements, rights of first refusal or
      other rights of any kind whatsoever to acquire all or any part of the
      Company Shares or any interest in them from the Vendors or from any one of
      them;

	 	 	 
		(d) 	
      the constituting documents of the Company have not been
      altered since the incorporation of the Company or, if they have been, all
      such alterations are contained and reflected in the minute book of the
      Company;

	 	 	 
		(e) 	
      all of the material transactions of the Company have been
      promptly and properly recorded or filed in or with the books or records of
      the Company and the minute books of the Company contain all records of the
      meetings and proceedings of shareholders and directors of the Company
      since its incorporation;

- 7 -

	 	(f) 	
      the only business carried on by the Company is the
      ownership and exploitation of a exclusive world-wide license for the
      provision of mobile phone content in the form of gaming and entertainment
      technology to mobile phone users through the creation and delivery of SMS
      based games in order to facilitate driving traffic and increasing airtime
      for wireless network.

	 	 	 	 
	 	(g) 	
      the Company Financial Statements are true and correct in
      every material respect and present fairly and accurately the financial
      position and results of the operations of the Company for the periods then
      ended and the Company Financial Statements have been prepared in
      accordance with all applicable generally accepted accounting principles
      applied on a consistent basis;

	 	 	 	 
	 	(h) 	
      the books and records of the Company disclose all
      material financial transactions of the Company since the Effective Date,
      and such transactions have been fairly and accurately recorded;

	 	 	 	 
	 	(i) 	
      except as disclosed in the Company Financial
      Statements:

	 	 	 	 
	 		(i)	
      no dividends or other distributions of any kind
      whatsoever on any sharesin the capital of the Company, have been made,
      declared or authorized;

	 	 	 	 
	 		
      (ii) 
	the Company is not indebted to any of the
      Vendors;
	 	 	 	 
	 		(iii)	
      none of the Vendors or any other officer, director or
      employee of theCompany is indebted or under obligation to the Company on
      any account whatsoever; and

	 	 	 	 
	 		(iv)	
      the Company has not guaranteed or agreed to guarantee any
      debt,liability or other obligation of any kind whatsoever of any person,
      firm or corporation of any kind whatsoever;

	 	 	 	 
	 	(j) 	
      there are no material liabilities of the Company whether
      direct, indirect, absolute, contingent or otherwise, which are not
      disclosed or reflected in the Company Financial Statements except those
      incurred in the ordinary course of business of the Company since the
      Effective Date and such liabilities are recorded in the books and records
      of the Company;

	 	 	 	 
	 	(k) 	
      since the Effective Date:

	 	 	 	 
	 		
      (i) 
	
      there has not been any material adverse change of any
      kind whatsoeverin the financial position or condition of the Company or
      any damage, loss or other change of any kind whatsoever in circumstances
      materially affecting the business or the assets of the Company or the
      right or capacity of the Company to carry on its business;

	 	 	 	 
	 		(ii)	
      the Company has not waived or surrendered any right of
      any kindwhatsoever of material value;

	 	 	 	 
	 		(iii)	
      except as permitted under this Agreement, the Company has
      notdischarged, satisfied or paid any lien, charge or encumbrance of any
      kind

- 8 -

whatsoever or obligation or liability
of any kind whatsoever other than current liabilities in the ordinary course of
its business;

	 	(iv) 	
      the business of the Company has been carried on in the
      ordinary course;

	 	 	 
	 	(v) 	
      no capital expenditures exceeding in the aggregate
      ₤10,000 have been authorized or made by the
Company;

	 	(l) 	
      the accounts receivable of the Company shown on the
      Company Financial Statements are bona fide, good and collectible without
      set-off or counterclaim;

	 	 	 
	 	(m) 	
      all tax returns and reports of the Company required by
      law to have been filed have been filed and are substantially true,
      complete and correct and all taxes and other government charges of any
      kind whatsoever of the Company have been paid or accrued in the Company
      Financial Statements;

	 	 	 
	 	(n) 	
      the Company has been assessed for income tax for all of
      its full or partial fiscal years to and including its most recently
      completed fiscal year;

	 	 	 
	 	(o) 	
      adequate provision has been made for taxes payable by the
      Company for the current period for which tax returns are not yet required
      to be filed and there are no agreements, waivers or other arrangements of
      any kind whatsoever providing for an extension of time with respect to the
      filing of any tax return by, or payment of, any tax or governmental charge
      of any kind whatsoever by the Company;

	 	 	 
	 	(p) 	
      they are not aware of any contingent tax liabilities of
      the Company of any kind whatsoever or any grounds which would prompt a
      reassessment of the Company including aggressive treatment of income and
      expenses in earlier tax returns filed;

	 	 	 
	 	(q) 	
      the Company has made all collections, deductions,
      remittances and payments of any kind whatsoever and filed all reports and
      returns required by it to be made or filed under the provisions of all
      applicable statutes requiring the making of collections, deductions,
      remittances or payments of any kind whatsoever in those jurisdictions in
      which the Company carries on business;

	 	 	 
	 	(r) 	
      the Company has good and sufficient right and authority
      to enter into this Agreement and to carry out its obligations under this
      Agreement on the terms and conditions set forth herein, and this Agreement
      is a binding agreement on the Company enforceable against it in accordance
      with its terms and conditions;

	 	 	 
	 	(s) 	
      there are no outstanding actions, suits, judgments,
      investigations or proceedings of any kind whatsoever against or affecting
      the Company at law or in equity or before or by any federal, provincial,
      state, municipal or other governmental department, commission, board,
      bureau or agency of any kind whatsoever nor are there, to the best of
      their knowledge, any pending or threatened;

	 	 	 
	 	(t) 	
      the directors, officers and key employees of the Company
      and all of their compensation arrangements whether as directors, officers
      or employees of, or

- 9 -

as independent contractors or
consultants to the Company are as listed on Schedule "C" to this Agreement;

	 	(u) 	
      there are no pensions, profit sharing, group insurance or
      similar plans or other deferred compensation plans of any kind whatsoever
      affecting the Company other than those specified on Schedule "C" to this
      Agreement;

	 	 	 	 
	 	(v) 	
      to the best of their knowledge, the Company is not in
      breach of any law, ordinance, statute, regulation, by-law, order or decree
      of any kind whatsoever;

	 	 	 	 
	 	(w) 	
      the execution and delivery of this Agreement and the
      performance of the parties obligations under this Agreement will
    not:

	 	 	 	 
	 		(i) 	
      conflict with, or result in the breach of or the
      acceleration of any indebtedness under, or constitute default under, the
      constating documents of the Company, or any indenture, mortgage,
      agreement, lease, licence or other instrument of any kind whatsoever to
      which the Company is a party or by which any one of them is bound, or any
      judgment or order of any kind whatsoever of any court or administrative
      body of any kind whatsoever by which any one of them is bound;
or

	 	 	 	 
	 		(ii) 	
      to the best of their knowledge, result in the violation
      of any law, ordinance, statute, regulation, by-law, order or decree of any
      kind;

	 	 	 	 
	 	(x) 	
      the Company holds all licences and permits that are
      required for carrying on its Business in the manner in which such Business
      has been carried on and in the manner in which such Business will need to
      be carried on in order for the Company to meet its obligations under this
      Agreement;

	 	 	 	 
	 	(y) 	
      the Company is the registered and beneficial owners of
      all of the properties and assets (collectively the "Assets") listed in
      Schedule "C" to this Agreement, and such Assets represent all of the
      property and assets used by the Company and which are necessary or useful
      in the conduct of their Business;

	 	 	 	 
	 	(z) 	
      the Company has the power to own the Assets owned by it
      and has the power to carry on the Business carried on by it and to meet
      its obligations under this Agreement, and the Company is duly qualified to
      carry on business in all jurisdictions in which it carries on
    business;

	 	 	 	 
	 	(aa) 	
      the Company has good and marketable title to the Assets
      free and clear of all liens, charges and encumbrances of any kind
      whatsoever save and except for those specified as "Permitted Encumbrances"
      on Schedule "B" to this Agreement;

	 	 	 	 
	 	(bb) 	
      all machinery and equipment of any kind whatsoever
      comprised in the Assets is in reasonable operating condition and in a
      state of reasonable maintenance and repair taking into account its age and
      use;

	 	 	 	 
	 	(cc) 	
      the trademarks, trade names, business names, patents,
      inventions, know-how, copyrights, software, source code, object code,
      service marks, brand names,

- 10 -

industrial designs and all other
industrial or intellectual property owned or used by the Company in carrying on
the Business and all applications therefor and all goodwill connected therewith,
including, without limitation, all licences, registered user agreements and all
like rights used by or granted to the Company in connection with the Business
and all right to register or otherwise apply for the protection of any of the
foregoing (collectively the "Intellectual Property") included on Schedule "B" to
this Agreement constitute all of the Intellectual Property of the Company;

	 	(dd) 	
      the Intellectual Property comprises all trade marks,
      trade names, business names, patents, inventions, know-how, copyrights,
      software, source code, object code, service marks, brand marks, industrial
      designs and all other industrial or intellectual property necessary to
      conduct the Business;

	 	 	 
	 	(ee) 	
      except as disclosed on Schedule "B", the Company is the
      beneficial owner of the Intellectual Property free and clear of all liens,
      charges or encumbrances of any kind whatsoever save and except for the
      Permitted Encumbrances, and the Company is not party to or bound by any
      agreement or other obligation of any kind whatsoever that limits or
      impairs its ability to sell, transfer, assign or convey, or that otherwise
      affects, the Intellectual Property;

	 	 	 
	 	(ff) 	
      except as disclosed on Schedule "B", no person has been
      granted any interest in or right to use all or any portion of the
      Intellectual Property and they are not aware of a claim of any
      infringement or breach of any industrial or intellectual property rights
      of any other person by the Company, nor has the Company received any
      notice that the conduct of the Business, including the use of the
      Intellectual Property, infringes upon or breach any industrial or
      intellectual property rights of any other person, and they, after due
      inquiry, do not have any knowledge of any infringement or violation of any
      of the rights of the Company in the Intellectual Property.

	 	 	 
	 	(gg) 	
      the conduct of the Business does not infringe upon the
      patents, trade marks, licences, trade names, business names, copyright or
      other industrial or intellectual property rights, domestic or foreign, of
      any other person and they are not aware of any state of facts that casts
      doubt on the validity or enforceability of any of the Intellectual
      Property.

	 	 	 
	 	(hh) 	
      all of the Material Contracts that comprise or relate to
      the Intellectual Property are listed on Schedule "B".

	 	 	 
	 	(ii) 	
      the Company maintains insurance against loss of, or
      damage to, the Assets by all insurable risks on a replacement cost basis
      and reasonable insurance with respect to public liability for a business
      of its size (collectively the "Insurance Coverage"), and all of the
      policies (the "Insurance Policies") in respect of such Insurance Coverage
      are listed on Schedule "A" to this Agreement and all such Insurance
      Policies are in good standing in all respects and not in default in any
      respects;

	 	 	 
	 	(jj) 	
      no payments of any kind whatsoever have been made or
      authorized by the Company since the Effective Date to or on behalf of the
      Shareholders of or entity

- 11 -

holding an interest in the Company or
any one of them or to or on behalf of any of the directors, officers or key
employees of the Company except in accordance with those compensation
arrangements specified on Schedule "C" to this Agreement or except as
contemplated by this Agreement;

	 	(kk) 	
      there are no pensions, profit sharing, group insurance or
      similar plans or other deferred compensation plans of any kind whatsoever
      affecting the Company other than those specified on Schedule "C" to this
      Agreement;

	 	 	 
	 	(ll) 	
      the Company is not now, and have never been, a party to
      any collective agreement with any labour union or other association of
      employees of any kind whatsoever;

	 	 	 
	 	(mm) 	
      the contracts and agreements included on Schedules "B"
      and "C" to this Agreement (collectively the "Material Contracts")
      constitute all of the material contracts and agreements of the
    Company;

	 	 	 
	 	(nn) 	
      except as is noted on the appropriate Schedule to this
      Agreement, the Material Contracts are in good standing in all respects and
      not in default in any respect;

	 	 	 
	 	(oo) 	
      except as is noted on the appropriate Schedule to this
      Agreement, all of the Material Contracts can be terminated by the Company,
      as applicable, on not more than one month's notice;

	 	 	 
	 	(pp) 	
      the facts which are the subject of the representations
      and warranties of the Company contained in this Agreement disclose all
      material facts known to the Company which are material and relevant to
      their obligations and the obligations of the Company hereunder or which
      might prevent any of them from meeting their obligations under this
      Agreement.

	3.3 	
      Concerning the Vendors - In order to induce
      the Purchaser to enter into this Agreement and complete its obligations
      hereunder including the issuance of the Purchaser Shares, each Vendor
      represents and warrants to the Purchaser that:

	 	 	 
		(a) 	
      the Company Shares registered in the name of the Vendor
      are beneficially owned by the Vendor as set forth in this Agreement, free
      and clear of all voting restrictions, trade restrictions, liens, charges
      or encumbrances of any kind whatsoever;

	 	 	 
		(b) 	
      except as is provided for by operation of this Agreement,
      there are no options, agreements, rights of first refusal or other rights
      of any kind whatsoever to acquire all or any part of the Vendor’s Company
      Shares or any interest in them;

	 	 	 
		(c) 	
      the Vendor has good and sufficient right and authority to
      enter into this Agreement and to carry out the Vendor’s obligations under
      this Agreement on the terms and conditions set forth herein, and this
      Agreement is a binding agreement on the Vendor, enforceable against the
      Vendor in accordance with its terms and
conditions;

- 12 -

	 	(d) 	
      to the extent that they might prevent him, her or it from
      meeting the Vendor’s obligations under this Agreement, there are no
      outstanding actions, suits, judgments, investigations or proceedings of
      any kind whatsoever against or affecting the Vendor at law or in equity or
      before or by any federal, provincial, state, municipal or other government
      department, commission, board, bureau or agency of any kind whatsoever nor
      are there, to the best of the Vendor’s knowledge, any pending or
      threatened;

	 	 	 	 	 
	 	(e) 	
      the execution and delivery of this Agreement and the
      performance of the Vendor’s obligations under this Agreement will
    not:

	 	 	 	 	 
	 		(i) 	
      conflict with, or result in the breach of or the
      acceleration of any indebtedness under, or constitute default, under any
      indenture, mortgage, agreement, lease, licence or other instrument of any
      kind whatsoever to which the Vendor is a party or by which the Vendor is
      bound, or any judgment or order of any kind whatsoever of any court or
      administrative body of any kind whatsoever by which the Vendor is bound;
      or

	 	 	 	 	 
	 		(ii) 	
      to the best of the Vendor’s knowledge, result in the
      violation of any law ordinance, statute, regulation, by-law, order or
      decree of any kind whatsoever by the Vendor.

	 	 	 	 	 
	 	(f) 	
      the Vendor is not a “U.S. Person” as defined by
      Regulation S of the U.S. Securities Act and is not acquiring the Purchaser
      Shares for the account or benefit of a U.S. Person.

	 	 	 	 	 
	 		
      A “U.S. Person” is defined by Regulation S of the Act
      to be any person who is:

	 	 	 	 	 
	 		(i) 	
      any natural person resident in the United
  States;

	 	 	 	 	 
	 		(ii) 	
      any partnership or corporation organized or incorporated
      under the laws of the United States

	 	 	 	 	 
	 		(iii) 	
      any estate of which any executor or administrator is a
      U.S. person;

	 	 	 	 	 
	 		(iv) 	
      any trust of which any trustee is a U.S.
person;

	 	 	 	 	 
	 		(v) 	
      any agency or branch of a foreign entity located in the
      United States;

	 	 	 	 	 
	 		(vi) 	
      any non-discretionary account or similar account (other
      than an estate or trust) held by a dealer or other fiduciary organized,
      incorporate, or (if an individual) resident in the United States;
    and

	 	 	 	 	 
	 		(vii) 	
      any partnership or corporation if:

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

	 	 	 	 	 
	 			(b) 	
      formed by a U.S. person principally for the purpose of
      investing in securities not registered under the Act, unless it is
      organized or incorporated, and owned, by accredited Vendors [as defined
      in

- 13 -

Section 230.501(a) of the Act] who are
not natural persons, estates or trusts;

	 	(g) 	
      the Vendor was not in the United States at the time the
      offer to purchase the Purchaser Shares was received or this Agreement was
      executed;

	 	 	 
	 	(h) 	
      the Vendor has such knowledge, sophistication and
      experience in business and financial matters such that it is capable of
      evaluating the merits and risks of the investment in the Purchaser Shares.
      The Vendor has evaluated the merits and risks of an investment in the
      Purchaser Shares. The Vendor can bear the economic risk of this
      investment, and is able to afford a complete loss of this
    investment;

	 	 	 
	 	(i) 	
      the Vendor acknowledges that the Purchaser is in the
      early stages of development of its business and the Purchaser’s success is
      subject to a number of significant risks, including the risk that the
      Purchaser will not be able to finance its plan of operations. The Vendor
      further acknowledges that (i) the Purchaser has limited cash and working
      capital, (ii) the Purchaser will have to raise additional capital in order
      to finance its plan of operations which capital may be raised by the issue
      of additional shares of its common stock which will result in dilution to
      the Vendor, and (iii) the Purchaser has no arrangements for any financing
      in place and there is no assurance that any financing will be
      completed;

	 	 	 
	 	(j) 	
      the Purchaser Shares will be acquired by the Vendor for
      investment for the Vendor's own account, not as a nominee or agent, and
      not with a view to the resale or distribution of any part thereof, and
      that the Vendor has no present intention of selling, granting any
      participation in, or otherwise distributing the same. The Vendor does not
      have any contract, undertaking, agreement or arrangement with any person
      to sell, transfer or grant participations to such person or to any third
      person, with respect to any of the Purchaser Shares;

	 	 	 
	 	(k) 	
      the Vendor has been afforded access to information about
      the Purchaser and the Purchaser’s financial condition, results of
      operations, business, properties, management and prospects sufficient it
      to evaluate its investment in the Purchaser Shares. The Vendor further
      represents that it has had an opportunity to ask questions and receive
      answers from representatives of the Purchaser regarding the terms and
      conditions of the offerings completed by the Purchaser and the business,
      properties, prospects and financial condition of the Purchaser, each as is
      necessary to evaluate the merits and risks of investing in the Purchaser
      Shares. The Vendor believes it has received all the information it
      considers necessary or appropriate for deciding whether to purchase the
      Purchaser Shares. The Vendor has had full opportunity to discuss this
      information with the Vendor’s legal and financial advisers prior to
      execution of this Agreement;

	 	 	 
	 	(l) 	
      the Vendor acknowledges that the Purchaser will rely on
      these representations in completing the issuance of the Purchaser Shares
      to the Vendor;

- 14 -

	 	(m) 	
      the Vendor acknowledges that the offering of the
      Purchaser Shares by the Purchaser has not been reviewed by the SEC or any
      state securities regulatory authority;

	 	 	 
	 	(n) 	
      this Agreement has been duly authorized, validly executed
      and delivered by the Vendor; and

	 	 	 
	 	(o) 	
      the Vendor has satisfied himself or herself as to the
      full observance of the laws of his or her jurisdiction in connection with
      the purchase of the Purchaser Shares and the execution of this Agreement,
      including (i) the legal requirements within jurisdiction of residence of
      the Vendor for the purchase of the Purchaser Shares; (ii) any foreign
      exchange restrictions applicable to such purchase; (iii) any governmental
      or other consents that may need to be obtained; (iv) the income tax and
      other tax consequences, if any, that may be relevant to an investment in
      the Purchaser Shares; and (v) any restrictions on transfer applicable to
      any disposition of the Purchaser Shares imposed by the jurisdiction in
      which the Vendor is resident.

	3.4 	
      Survival - The representations and
      warranties made by the parties under this Part are true and correct as of
      the Effective Date and shall be true and correct at the Time of Closing as
      though they were made at that time, and should such not be the case, the
      parties to whom the representations and warranties were made shall be
      entitled, for a period of one year following the Closing, to seek remedy
      against that party for any such misrepresentation or breach of
      warranty.

	 	 	 
	4. 	
      COVENANTS AND AGREEMENTS

	 	 	 
	4.1 	
      Given to The Purchaser - Each Vendor and
      the Company covenant and agree with The Purchaser that the Vendors and the
      Company will:

	 	 	 
		(a) 	
      permit the Purchaser’s representatives at its own cost,
      as applicable, full access to the Company's books, records and property
      including, without limitation, all of the Assets, contracts and minute
      books of the Company, so as to permit The Purchaser to make such
      investigation of the Company as the Purchaser deems necessary;

	 	 	 
		(b) 	
      do all such acts and things necessary to ensure that all
      of the representations and warranties of the Vendors and the Company, or
      any one of them, remain true and correct, and not do any such act or thing
      that would render any representation or warranty of the Vendors and the
      Company or any one of them untrue or incorrect;

	 	 	 
		(c) 	
      from and including the Effective Date through to and
      including the Time of Closing, preserve and protect the goodwill, Assets,
      business and undertaking of the Company and, without limiting the
      generality of the foregoing, carry on the business of the Company in a
      reasonable and prudent manner;

	 	 	 
		(d) 	
      not negotiate with any other person in respect of a
      purchase and sale of any of the Company or any part of the Assets, other
      than in the ordinary course of business.

- 15 -

	4.2 	
      No limitation on The Purchaser - The
      Vendors jointly and severally acknowledge to and agree with the Purchaser
      that the Purchaser’s investigation shall in no way limit or otherwise
      adversely affect the rights of the Purchaser as provided for hereunder in
      respect of the representations and warranties of the Vendors and the
      Company contained in this Agreement.

	 	 
	4.3 	
      Given by The Purchaser - The Purchaser
      covenants and agrees with each Vendor and the Company that the Purchaser
      shall:

	 	(a) 	
      permit the Vendors’ representatives, at their own cost,
      full access to The Purchaser's property, books and records including,
      without limitation, all of the assets, contracts and minute books of the
      Purchaser, so as to permit the Vendors' representatives to make such
      investigation of the Purchaser as the Vendors deem reasonably
      necessary;

	 	 	 
	 	(b) 	
      from and including the Effective Date through to and
      including the Time of Closing, do all such acts and things necessary to
      ensure that all of the representations and warranties of The Purchaser
      remain true and correct and not do any such act or thing that would render
      any representation or warranty of The Purchaser untrue or
  incorrect;

	 	 	 
	 	(c) 	
      name Lars Brannvell as management's nominees for election
      to its board of directors at the first shareholders' meeting of the
      Purchaser held after the Effective Date, and use its best efforts to
      secure proxies in favour of the appointment of Lars Brannvell to its
      board.

	4.4 	
      No limit on rights - The Purchaser
      acknowledges to and agrees with the Vendors that the Vendors'
      investigation shall in no way limit or otherwise adversely affect the
      rights of the Vendors as provided for hereunder in respect of the
      representations and warranties of the Purchaser contained in this
      Agreement.

	 	 
	5. 	
      CONDITIONS PRECEDENT

	 	 
	5.1 	
      In favour of all parties - The obligations
      of all parties under this Agreement are subject to the fulfillment of the
      following condition on or before June 30,
2005:

	 	(a) 	
      the passing of an ordinary resolution by the shareholders
      of the Purchaser approving the purchase of the Company Shares on the terms
      contemplated by this Agreement; and

	 	 	 
	 	(b) 	
      completion as of the Time of Closing, of a private
      placement of 500,000 shares of the Purchaser to be issued at a price of
      US$0.25 per share

and if such conditions have not been
fulfilled by that date or such later date that the parties may mutually agree
upon, this Agreement shall terminate and be of no further force and effect.

	5.2 	
      In favour of The Purchaser - The
      Purchaser's obligations under this Agreement are subject to the fulfilment
      of the following conditions as of the Time of
Closing:

- 16 -

	 	(a) 	
      The Purchaser shall have been able to complete its
      investigations into the affairs of the Company to its reasonable
      satisfaction;

	 	 	 
	 	(b) 	
      Lars Brannvell shall be the only director of the
      Company;

	 	 	 
	 	(c) 	
      the Vendors and the Company shall have complied with all
      of their respective covenants and agreements contained in this Agreement;
      and

	 	 	 
	 	(d) 	
      the representations and warranties of the Vendors and the
      Company or any one of them shall be completely true as if such
      representations and warranties had been made by the Vendors and the
      Company as of the Time of Closing.

The conditions precedent set forth
above are for the exclusive benefit of The Purchaser and may be waived by it in
whole or in part on or before the Time of Closing.

	5.3 	
      In favour of the Vendors - The Vendor's
      respective obligations under this Agreement are subject to the fulfilment
      of the following conditions as of the Time of Closing:

	 	 	 
		(a) 	
      the Vendors shall have been able to complete the Vendors'
      investigation into the affairs of the Purchaser to their reasonable
      satisfaction;

	 	 	 
		(b) 	
      the Purchaser shall have complied with all of its
      covenants and agreements contained in this Agreement; and

	 	 	 
		(c) 	
      the representations and warranties of the Purchaser shall
      be completely true as if such representations and warranties had been made
      by the Purchaser as of the Time of Closing.

The conditions precedent set forth
above are for the exclusive benefit of each of the Vendors and may be waived by
each of them in whole or in part on or before the Time of Closing.

	6. 	
      CLOSING

	 	 	 	 
	6.1 	
      Closing Date - The Closing shall take place
      at the Time of Closing on the Closing Date, or such other time, date or
      place as the parties may mutually agree upon.

	 	 	 	 
	6.2 	
      Deliveries by the Company - At the Closing,
      the Company shall deliver to The Purchaser the following
  documents:

	 	 	 	 
		(a) 	
      a certified true copy of the resolutions of the directors
      and, if necessary, the shareholders of the Company evidencing that the
      board and, if applicable, shareholders of the Company have approved this
      Agreement and all of the transactions of the Company contemplated
      hereunder and the resolutions shall include specific reference
  to:

	 	 	 	 
			(i) 	
      the sale and transfer of the Company Shares from the
      Vendors to The Purchaser as provided for in this Agreement;

	 	 	 	 
			(ii) 	
      the cancellation of the share certificates representing
      the Company Shares held by the Vendors; and

- 17 -

	 	(iii) 	
      the issuance of a new share certificate representing the
      Company Shares registered in the name of the
Purchaser;

	 	(b) 	
      a certificate signed by authorized representatives of the
      Company that the representations and warranties of those persons contained
      in this Agreement are true and correct in every respect as of the Time of
      Closing on the Closing Date;

	 	 	 
	 	(c) 	
      if the parties settle on a mutually acceptable form of
      closing agenda prior to the Time of Closing, then such other Closing
      documents as are listed on that closing agenda as Closing documents to be
      delivered by the Vendors and by the Company; and

	 	 	 
	 	(d) 	
      if the parties choose not to or are unable to settle on a
      mutually acceptable form of closing agenda prior to the Time of Closing,
      then such other materials that are, in the opinion of the Purchaser acting
      reasonably, required to be delivered by the Vendors and by the Company in
      order for them to meet their obligations under this
  Agreement.

	6.3 	
      Deliveries by the Vendors – At the Closing,
      each of the Vendors shall deliver their original certificates representing
      the Company Shares owned by them together with a share transfer, duly
      completed and executed to the satisfaction of the Company.

	 	 	 
	6.4 	
      Deliveries by The Purchaser - At the Time
      of Closing on the Closing Date, the Purchaser shall deliver to the
      Vendors:

	 	 	 
		(a) 	
      certified true copies of the resolutions of the directors
      evidencing the approval of this Agreement and all of the transactions of
      the Purchaser contemplated hereunder;

	 	 	 
		(b) 	
      certified true copies of the resolutions of the
      shareholders of the Purchaser evidencing the approval of this Agreement
      and the transactions contemplated hereunder;

	 	 	 
		(c) 	
      share certificates representing the Purchaser Shares
      registered in the names of the Vendors;

	 	 	 
		(d) 	
      a certificate signed by an authorized representative of
      the Purchaser that the representations and warranties of the Purchaser
      contained in this Agreement are true and correct in every respect as of
      the Time of Closing on the Closing Date;

	 	 	 
		(e) 	
      if the parties settle on a mutually acceptable form of
      closing agenda prior to the Time of Closing, then such other Closing
      documents as are listed on that closing agenda as Closing documents to be
      delivered by the Purchaser; and

	 	 	 
		(f) 	
      if the parties choose not to or are unable to settle on a
      mutually acceptable form of closing agenda prior to the Time of Closing,
      then such other materials that are, in the opinion of the Vendors and the
      Company acting reasonably, required to be delivered by the Purchaser in
      order for it to meet its obligations under this
  Agreement.

- 18 -

	7. 	
      GENERAL

	 	 
	7.1 	
      Time - Time and each of the terms and
      conditions of this Agreement shall be of the essence of this Agreement and
      any waiver by the parties of this paragraph or any failure by them to
      exercise any of their rights under this Agreement shall be limited to the
      particular instance and shall not extend to any other instance or matter
      in this Agreement or otherwise affect any of their rights or remedies
      under this Agreement.

	 	 
	7.2 	
      Entire agreement - This Agreement
      constitutes the entire Agreement between the parties hereto in respect of
      the matters referred to herein and there are no representations,
      warranties, covenants or agreements, expressed or implied, collateral
      hereto other than as expressly set forth or referred to herein. In
      particular, upon the execution and delivery of this Agreement, the Letter
      Agreement dated April 18, 2005 made between the parties, is hereby
      terminated and of no further force and effect.

	 	 
	7.3 	
      Further assurances - The parties hereto
      shall execute and deliver all such further documents and instruments and
      do all such acts and things as any party may, either before or after the
      Closing, reasonably require of the other in order that the full intent and
      meaning of this Agreement is carried out. The provisions contained in this
      Agreement which, by their terms, require performance by a party to this
      Agreement subsequent to the Closing of this Agreement, shall survive the
      Closing of this Agreement.

	 	 
	7.4 	
      Amendments - No alteration, amendment,
      modification or interpretation of this Agreement or any provision of this
      Agreement shall be valid and binding upon the parties hereto unless such
      alteration, amendment, modification or interpretation is in written form
      executed by all of the parties to this Agreement.

	 	 
	7.5 	
      Notices - Any notice, request, demand,
      election and other communication of any kind whatsoever to be given under
      this Agreement shall be in writing and shall be delivered by hand, e-mail
      or by fax to the parties at their following respective
  addresses:

To the Vendors or the Company :

Coloured Industry Limited 
Suite
5.15, 130 Shaftesbury Avenue 
London, England W1D 5EU

Attention: Lars Brannvall

Fax:      +44
20 70311199 

  Email:  lars@cimobilegaming.com

To The Purchaser:

Emcor Holdings Inc. 
10478 Nieretto
Court
Rancho Cordova, California 95670

Attention: Sharon Cocker
Email:
grannycocker@yahoo.com

- 19 -

or to such other addresses as may be
given in writing by the parties hereto in the manner provided for in this
paragraph, and the party sending such notice should request acknowledgment of
delivery and the party receiving such notice should provide such acknowledgment.
Notwithstanding whether or not a request for acknowledgment has been made or
replied to, whether or not delivery has occurred will be a question of fact. If
a party can prove that delivery was made as provided for above, then it will
constitute delivery for the purposes of this Agreement whether or not the
receiving party acknowledged receipt. Each of the Vendors hereby appoints the
Company as its nominee for the purpose of receiving a notice from the Purchaser
pursuant to this Agreement.

	7.6 	
      Assignment - This Agreement may not be
      assigned by any party hereto without the prior written consent of all of
      the parties hereto.

	 	 
	7.7 	
      Governing law - This Agreement shall be
      subject to, governed by, and construed in accordance with the laws of
      England and Wales applicable therein, and the parties hereby attorn to the
      jurisdiction of the Courts of England.

	 	 
	7.8 	
      Counterparts - This Agreement may be signed
      by fax and in counterpart, and each copy so signed shall be deemed to be
      an original, and all such counterparts together shall constitute one and
      the same instrument.

	 	 
	7.9 	
      Severability - If any one or more of the
      provisions contained in this agreement should be invalid, illegal or
      unenforceable in any respect in any jurisdiction, the validity, legality
      and enforceability of such provision or provisions will not in any way be
      affected or impaired thereby in any other jurisdiction and the validity,
      legality and enforceability of the remaining provisions contained herein
      will not in any way be affected or impaired thereby, unless in either case
      as a result of such determination this agreement would fail in its
      essential purpose.

	 	 
	7.10	
      Enurement – This Agreement shall
      enure to the benefit of and be binding upon the parties hereto and their
      respective successors, permitted assigns, trustees, representatives, heirs
      and executors.

IN WITNESS WHEREOF the parties have hereunto set their
hands and seals as of the Effective Date first above written.

	THE CORPORATE SEAL of EMCOR 	) 	 
	HOLDINGS INC. was hereunto affixed in the 	) 	 
	presence of: 	) 	 
	  	) 	c/s  
	/s/ Sharon L. Cocker
    	) 	 
	Authorized Signatory 	) 	 
	  	) 	 
	Authorized Signatory 	  	 

- 20 -

	THE CORPORATE SEAL of COLOURED 	) 	  
	INDUSTRY LIMITED was hereunto affixed in 	) 	  
	the presence of: 	) 	  
	  	) 	c/s 
	/s/ Lars
      Brannvall 	) 	  
	Authorized Signatory 	) 	  
		) 	  
	  	) 	  
	  	  	  
	Authorized Signatory 	  	  
	  	  	  
	THE CORPORATE SEAL of COLOUR 	) 	  
	INDUSTRY INC. was hereunto affixed in the 	) 	  
	presence of: 	)	signed at Crosbies, Antigua 
	  	) 	[SEAL] 
		) 	  
	/s/ Laura
      Mouck 	) 	  
	Authorized Signatory 	) 	  
	                     	) 	  
	N.D. Holdings Ltd. 	  	  
	  	  	  
	  	  	  
	Authorized Signatory 	  	  
	  	  	  
	  	  	  
	THE CORPORATE SEAL of OUTLANDER 	) 	  
	MANAGEMENT LIMITED was hereunto 	) 	  
	affixed in the presence of: 	) 	  
	  	) 	c/s 
		) 	  
	/s/ Joachim Bondo	) 	  
	Authorized Signatory 	) 	  
	  	) 	  
	  	  	  
	Authorized Signatory 	  	  
	  	) 	  
	EXECUTED BY LARS BRANNVALL in the 	) 	  
	presence of: 	)  	 
	  	) 	/s/ Lars Brannvall
	/s/ Basar
      Korkankorkmaz 	) 	LARS BRANNVALL 
	Signature of Witness 	) 	  
		) 	  
	  	) 	  
	Basar
      Korkankorkmaz 	) 	  
	Name of Witness 	  	  

- 21 -

	  	) 	  
	EXECUTED BY RON GASTOCK in the 	) 	  
	presence of: 	) 	
	  	) 	/s/ Ron Gastock 
	/s/ Julie
      Bosillo 	) 	RON GASTOCK 
	Signature of Witness 	) 	  
		) 	  
	  	) 	  
	Julie Bosillo 	) 	  
	Name of Witness 	  	  
		  	  
	  	  	  
	  	) 	  
	EXECUTED BY GIDEON JUNG in the 	) 	  
	presence of: 	) 	
	  	) 	/s/ Gideon Jung 
	/s/ Sean Bok,
      Hwang 	) 	GIDEON JUNG 
	Signature of Witness 	) 	  
		) 	  
	  	) 	  
	Sean Bok,
      Hwang 	) 	  
	Name of Witness 	  	  
		  	  
	  	  	  
	  	  	  
	  	) 	  
	EXECUTED BY JAVIER IBRAOLLA in the 	) 	  
	presence of: 	) 	
	  	) 	/s/ Javier Ibraolla 
	/s/ Chia
      Suan 	) 	JAVIER IBRAOLLA 
	Signature of Witness 	) 	  
		) 	  
	  	) 	  
	Chia Suan 	) 	  
	Name of Witness 	  	  

SCHEDULE "A" 

TO THE SHARE EXCHANGE AGREEMENT 
DATED MAY 23,
2005

LIST OF VENDORS AND ALLOCATION OF PURCHASE
PRICE

	Name of Vendor 	Company Shares 	 	Purchaser Shares 
	 	 	 	 
	Colour Industry Inc. 	1,730,000 	 	9,947,293 
	 	 	 	 
	Outlander Management Limited 	100,000 	 	574 
		  	 	  
	Lars Brannvall 	245,000 	 	1,408,721 
	 	 	 	 
	Ron Gastrock 	10,000 	 	 57,499 
	 	 	 	 
	Gideon Jung 	1,000 	 	5,749 
	 	 	 	 
	Javier Ibarolla 	1,000 	 	5,749 
	 	 	 	 
	Total: 	2,087,000 	 	12,000,000 

- 2 -

SCHEDULE "B" 

TO THE SHARE EXCHANGE AGREEMENT 
DATED MAY 23,
2005

 

FINANCIAL STATEMENTS

SCHEDULE "C" 

TO THE SHARE EXCHANGE AGREEMENT 
DATED MAY 23,
2005

THE COMPANY GROUP ASSETS AND MATERIAL
CONTRACTS

Machinery and Equipment 

None

Bank Accounts and Safety Deposit Boxes:

Svenska Handlesbanken AB
Trinity
Tower, 9 Thomas More Street, London, E1W 1GE 
A/C Numbers : 28519001 &
28519002 Sort Code : 40-51-62

Inventory:

None

Intellectual Property:

Nil

Real Property:

None

Customer Lists:

None

Insurance Policies:

None

Material Contracts

A Marketing Cooperation Agreement dated
May 14, 2004 between the Company and Ericsson AB whereby Ericsson agrees to
assist the Company in introducing Coloured Industry mobile gaming technology to
Ericsson’s customer base.

A Reseller Agreement dated February 3,
2004 between the Company and Tele-Publishing UK Ltd. whereby Tele-Publishing was
granted a non-exclusive license to promote and market the Coloured Industry
mobile gaming technology in the United Kingdom.

- 2 -

A Reseller Agreement dated January 4,
2005 between the Company and Mobile Minds whereby Mobile Minds was granted a
non-exclusive license to promote and market the Coloured Industry mobile gaming
technology in the Hungary, Slovakia, the Czech Republic and Pakistan.

A Reseller Agreement dated March 10,
2005 between the Company and Net People International Inc. whereby Net People
was granted a non-exclusive license to promote and market the Coloured Industry
mobile gaming technology in the Central and Southern America, Mexico and the
Caribbean.

A Reseller Agreement dated September
30, 2004 between the Company and Nostromo ICT whereby Nostromo was granted a
non-exclusive license to promote and market the Coloured Industry mobile gaming
technology in the Czech Republic.

A Reseller Agreement dated March 13,
2005 between the Company and Mobilestones Asia Pte Ltd. whereby Mobilestones was
granted a non-exclusive license to promote and market the Coloured Industry
mobile gaming technology in Asia (not including Singapore).

A Reseller Agreement dated February 20,
2004 between the Company and Mocondi Ltd. whereby Mocondi was granted a
non-exclusive license to promote and market the Coloured Industry mobile gaming
technology.

A Reseller Agreement dated December 20,
2004 between the Company and Tracebit Ltd. whereby Tracebit was granted a
non-exclusive license to promote and market the Coloured Industry mobile gaming
technology.

A Reseller Agreement dated November 25,
2004 between the Company and Voicelock Ltd. whereby Voicelock was granted a
non-exclusive license to promote and market the Coloured Industry mobile gaming
technology in the United Kingdom and Ireland.

A Reseller Agreement dated February 19,
2004 between the Company and Mtertainment Korea whereby Mtertainment was granted
a non-exclusive license to promote and market the Coloured Industry mobile
gaming technology in Asia with exclusivity in Singapore.

A Reseller Agreement dated April 19,
2004 between the Company and Mobilkraft AB whereby Mobilkraft was granted a
non-exclusive license to promote and market the Coloured Industry mobile gaming
technology in Sweden.

The following are the Material Contracts in
default:

None

The following are the "Permitted Encumbrances" on the
Assets:

None

- 3 -

SCHEDULE "D" 

TO THE SHARE EXCHANGE AGREEMENT 
DATED MAY 23,
2005

Directors, Officers and Key Employees 
of the
Company

1.      THE
COMPANY

	

Name and Address 	

Position 	Compensation 
Arrangements
      
(include base compensation 
plus pensions, profit
      
sharing, insurance plans 
etc.) 
	Lars Brannvall 	Managing Director 	£24,000 per annum

SCHEDULE "E" 

TO THE SHARE EXCHANGE AGREEMENT 
DATED MAY 23,
2005

LIST OF MATERIAL AGREEMENTS OF THE PURCHASER

Material Agreements:

None

The following are the Material Agreements in
default:

NIL

The following are the Material Agreements that cannot be
terminated on 30 days' notice:

NILFiled by Automated Filing Services Inc. (604) 609-0244 - Coloured Industry Inc. - Exhibit 10.8

EXHIBIT 10.8 

ASSET PURCHASE AGREEMENT
(COLOURED
TECHNOLOGY)

THIS AGREEMENT (together with the schedules attached
hereto, this “Agreement”) dated as of January 31, 2006.

BETWEEN:

COLOURED (US) INC. a company
incorporated under the laws of State of Nevada and having a registered address
at 502 East John Street, Carson City, Nevada 89706

(herein called the “Buyer”)

AND:

COLOURED INDUSTRY INC. a
company incorporated in the Antigua and having a registered office at FDICIC
Building, Lower Factory Road, Antigua

(herein called “Seller”)

WHEREAS:

The Buyer desires to purchase and acquire from the Seller and
the Seller desires to sell and assign to the Buyer all of the Sellers rights,
title and interest in and to all of the Intellectual Property and Permits
required for the development, exploitation and use of a software suite
consisting of electronic games designed to be played on GSM-network mobile
phones through the use of (SMS) “Short Message Service” technology, named the
“Coloured Industry technology” (collectively, the “Assets”) in exchange
for shares of the Buyer.

The completion of the sale and purchase of the Assets is
contingent on the concurrent completion of the purchase (the “Share
Purchase”) whereby the Seller will acquire from the Coloured Technology
Partnership LLP (“Coloured LLP”) all of the issued share capital of a
limited company (“Holdco”) to be created by Coloured LLP for the purposes
of allowing Coloured LLP to divest itself of the Assets;

The parties desire to enter into this Agreement to set forth
their mutual agreements concerning the above matter.

NOW, THEREFORE, in consideration of the sum of US$10.00, paid
by each party to the other, the receipt of which is mutually acknowledged and
the mutual promises of the parties hereto, and of good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, it
is mutually agreed by and between the parties hereto as follows:

1

ARTICLE 1

SALE AND TRANSFER OF ASSETS; CLOSING

1.1      Sale of Asset Subject
to the terms and conditions of this Agreement, and in reliance upon the
representations, warranties, covenants and agreements contained herein, at the
closing of the transactions contemplated hereby (the “Closing”), the
Seller will sell, convey, assign and transfer the Assets to the Buyer, and the
Buyer will purchase and acquire the Assets from the Seller, free and clear of
any claims or Encumbrances (as defined in Section 2.6) . The Assets shall
include all of the Seller’s right, title and interest in and to the following as
at the Closing Date (as defined in Section 1.3 below):

                         (i)      Intellectual
Property. All rights in and to patents and patent applications, registered
or unregistered trademarks, service marks, and trademark or service mark
registrations and applications, trade names, logos, designs, Internet domain
names, slogans and general intangibles of like nature, together with all
goodwill relating to the foregoing, copyrights, copyright registrations,
renewals and applications, Software (as defined in Section 2.7(h), licenses,
agreements and all other proprietary rights, which relate to the use and
exploitation of the Assets (collectively, the “Intellectual Property”).
Intellectual Property shall also include all technology and proprietary
information developed by any employee, consultant or agent of the Seller during
the course of their employment, consultancy or agency with the Seller;

                         (ii)    
Permits and Licenses. All rights of the Seller with respect to permits,
approvals, orders, authorizations, consents, licenses, certificates and all
pending applications therefor (collectively, “Permits”), which have been
issued or granted to, or are owned or used by, the Seller in connection with the
ownership or use of the Assets;

          1.2      Consideration.
In consideration of the sale, transfer and assignment to the Buyer of the
Assets, at the Buyer shall issue and deliver to the Seller in consideration for
the issue to the Seller, on Closing, an aggregate of 6,000,000 common shares in
the capital of the Buyer (the " Shares").

     1.3      The
Closing. The parties acknowledge and agree that:

          (a)      the
Closing will take place contemporaneously with the completion of the Share
Purchase subject to the satisfaction or waiver of the Closing conditions set
forth in Articles 5 and 6 of this Agreement including, on or before February 15,
2006 (the “Closing Date”);

          (b)     
the Seller has agreed with Coloured LLP that on Closing, the Seller will deliver
6,000,000 common shares in the capital of the Buyer to Coloured LLP as
consideration for the Share Purchase, and that conditional upon the execution
and delivery by Coloured LLP to the Buyer of a Regulation S Investment
Agreement, in a form acceptable to the Buyer, the Buyer will agree to a transfer
of the Shares as satisfaction of the Share Purchase consideration, concurrently
with the Closing.

          1.4      Closing
Obligations. At Closing, the Buyer and the Seller shall take the following
actions, in addition to such other actions as may otherwise be required under
this Agreement:

          (a)     
Conveyance Instruments. The Seller shall deliver to the Buyer or its
designee such warranty deeds, bills of sale, assignments, and other instruments
of conveyance and 

2

transfer as the Buyer may reasonably request to effect the
assignment to the Buyer or its designee of the Assets.

          (b)      Consideration.
The Buyer shall deliver to the Seller the Shares which Shares will be
transferred by the Seller to Coloured LLP subject to the receipt by the Buyer of
the investment agreement referred to in Section 1.3(b) of this Agreement.

          (c)     
Evidence of Ownership. The Seller shall deliver documentary evidence of
the Seller’s sole right, title and ownership interest in and to the Assets, such
evidence to be in a form satisfactory to the Buyer. 

          (d)      Cancellation
of Licenses The Seller shall deliver to the Buyer executed copies the
Agreements set forth in Article 6 of this Agreement.

ARTICLE 2

REPRESENTATIONS AND WARRANTIES OF THE SELLER

          To
induce the Buyer to execute, deliver and perform this Agreement, and in
acknowledgement of the Buyer’s reliance on the following representations and
warranties the Seller represents and warrants, with the Buyer as follows, as of
the date hereof and as of the Closing Date, unless otherwise specified,

          2.1     
Organization. The Seller is a corporation duly organized, validly
existing and in good standing under all applicable laws with the power and
authority to conduct its business as it is now being conducted and to own its
assets.

          2.2     
Power and Authority. The Seller has the power and authority to execute,
deliver, and perform this Agreement and the other agreements and instruments to
be executed and delivered by it in connection with the transactions contemplated
hereby, and the Seller has taken all necessary action to authorize the execution
and delivery of this Agreement and such other agreements and instruments and the
consummation of the transactions contemplated hereby, including but not limited
to the receipt of all necessary regulatory approvals including the approval of
the Seller's shareholders. This Agreement is, and the other agreements and
instruments to be executed and delivered by the Seller in connection with the
transactions contemplated hereby, when such other agreements and instruments are
executed and delivered, shall be, the valid and legally binding obligations of
the Seller enforceable against the Seller in accordance with their respective
terms.

          2.3     
No Conflict. Neither the execution and delivery of this Agreement and the
other agreements and instruments to be executed and delivered in connection with
the transactions contemplated hereby, nor the consummation of the transactions
contemplated hereby, will to the best of the Seller’s knowledge violate or
conflict with: (a) any foreign or local law, regulation, ordinance, governmental
restriction, order, judgment or decree applicable to the Seller; (b) any
provision of any charter, bylaw or other governing or organizational instrument
of the Seller; or (c) any mortgage, indenture, license, instrument, trust,
contract, agreement, or other commitment or arrangement to which the Seller is a
party or by which the Seller is bound.

          2.4     
Required Consents. No Permit (as defined in Section 1.1(a)(iv)) or
approval, authorization, consent, permission, or waiver to or from any person,
or notice, filing, or recording to or with, any person is necessary for: (a) the
execution and delivery of this Agreement and the 

3

other agreements and instruments to be executed and delivered
by the Seller in connection with the transactions contemplated hereby, or the
consummation by the Seller of the transactions contemplated hereby; or (b) the
ownership and use of the Assets by the Buyer.

          2.5     
Intellectual Property.

          (a)      On
Closing, the Seller will indirectly own and has the valid right to use all of
the Intellectual Property (as defined in Section 1.1(a)(ii)) comprised in the
Assets all of which is described on Schedule “A” attached hereto.

          (b)     
On Closing, the Intellectual Property will be free and clear of all Encumbrances
or other restrictions on transfer, including but not limited to a fixed and
floating charge over the Assets (the “Security”) held by MFC Merchant
Bank SA.

          (c)      On
Closing, there will be no pending or threatened opposition, interference or
cancellation proceeding before any court or registration authority in any
jurisdiction against such registrations or against any Intellectual Property
licensed to the Seller pursuant to the License Agreements (as defined in the
next paragraph).

          (d)      Schedule
"B" attached hereto sets forth a complete and accurate list of all agreements
pertaining to the use of, or granting any right to use or practice any rights
under, any Intellectual Property (collectively, the “License
Agreements”). Except as set forth in Schedule "B", there are no settlements,
consents, judgments, or orders or other agreements which restrict any of rights
to use any Intellectual Property or permit third parties to use any Intellectual
Property which would otherwise infringe any of the Seller’s Intellectual
Property.

          (e)     
To the best of the Seller’s knowledge, no third party is misappropriating,
infringing, diluting, or violating any Intellectual Property owned by, assigned
or licensed to the Seller, and no such claims are pending against a third party
by the Seller;

          (f)     
Schedule "C" attached hereto lists all Software currently or previously owned,
licensed, sublicensed, assigned, leased, sold to or by or otherwise used by the
Seller, and identifies which is owned, licensed, sublicensed, assigned, leased,
sold or otherwise used, as the case may be. “Software” means any and all
(i) computer programs, including any and all software implementations of
algorithms, models and methodologies, whether in source code or object code or
otherwise, (ii) computer databases and computer compilations, including any and
all data and collections of data, whether machine readable or otherwise, (iii)
subsequent error corrections or updates relating to any of the foregoing, (iv)
descriptions, flow-charts and other work product used to design, plan, organize
and develop any of the foregoing, (v) Internet domain names and the technology
supporting and content contained on the respective Internet site(s), and (vi)
all end-user and programmer documentation, including user manuals and training
materials, relating to any of the foregoing;

          (g)     
On Closing, each item of Software listed in Schedule "C" will either be: (i)
owned by the Seller, (ii) currently in the public domain or otherwise available
to the Seller without the license, lease or consent of any third party, or (iii)
used under rights granted to the Seller pursuant to a written agreement,
assignment, license or lease from a third party, which written agreement,
license or lease is listed in Schedule "C". The Seller’s use of the Software set
forth in Schedule "C" does not violate the rights of any third party. With
respect to the Software set forth in Schedule "C" which the Seller purports to
own, such Software was either: (x) developed by employees of the Seller within
the scope of their employment; (y) developed by independent 

4

contractors who have assigned their rights to the Seller
pursuant to written agreements; or (z) acquired by the Seller from third
parties; and

          (h)      except
for any open-source software code set out in Schedule “C” made available to the
owner of the Assets under a free and assignable license, which the Seller will,
on Closing, will be entitled to so utilize under a license it holds from a third
party that is assignable to the Buyer, the Software does not incorporate codes
other than those developed by the Seller or its employees or consultants who
developed such codes under work for hire agreements with the Seller.

          2.6     
Investor Representations. The Seller acknowledge and agree that the
Shares will be offered and sold without such offers and sales being registered
under the United States Securities Act of 1933, as amended (the “Securities
Act”) and will be issued to the Seller in accordance with Rule 903 of
Regulation S of the Securities Act in an “offshore transaction” within the
meaning of Regulation S based on the representations and warranties of the
Seller in this Agreement. As such, the Seller further acknowledges and agrees
that all Shares will, upon issuance, be “restricted securities” within the
meaning of the Securities Act.

          2.7     
Agreement Regarding Resale. The Seller agrees to (i) resell the Shares
only in accordance with the provisions of Regulation S of the Securities Act,
pursuant to registration under the Securities Act, or pursuant to an available
exemption from registration pursuant to the Securities Act, and otherwise in
accordance with all applicable state securities laws and the laws of any other
jurisdiction. The Seller further agrees that the Buyer may require the opinion
of legal counsel reasonably acceptable to the Buyer in the event of any offer,
sale, pledge or transfer of any of the Shares by the Seller pursuant to an
exemption from registration under the Securities Act; 

          2.8     
Prohibition Against Hedging Transactions. The Seller agrees not to engage
in hedging transactions with regard to the Shares unless in compliance with the
Securities Act.

          2.9     
Right of Company to Refuse Transfer. The Seller agrees that the Buyer
will refuse to register any transfer of the Shares not made in accordance with
the provisions of Regulation S of the Securities Act, pursuant to registration
under the Securities Act, pursuant to an available exemption from registration,
or otherwise pursuant to this Agreement. 

          2.10    
No Obligation to Register. The Seller acknowledges that the Buyer has not
agreed and has no obligation to register the resale of the Shares under the
Securities Act.

          2.11    
Share Certificates. The Seller acknowledges and agrees that all
certificates representing the Shares will be endorsed with the following legend
in accordance with Regulation S of the Securities Act or such similar legend as
deemed advisable by legal counsel for the Buyer to ensure compliance with
Regulation S of the Securities Act and to reflect the status of the Shares as
restricted securities: 

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE
"ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT. SUCH
SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN
EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM
REGISTRATION UNDER THE ACT. HEDGING 

5

TRANSACTIONS INVOLVING THE
SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT”.

          2.12      Issuance
of Shares The Seller represents and warrants to the Buyer as follows, and
acknowledges that the Buyer is relying upon such covenants, representations and
warranties in connection with the issue of the Shares to the Seller:

         (a)     
the Seller is not a “U.S. Person” as defined by Regulation S of the Securities
Act and is not acquiring the Shares for the account or benefit of a U.S.
Person;

          (b)     
the Seller was not in the United States at the time the offer to purchase the
Shares was received or this Agreement was executed; 

          (c)      the
Seller has such knowledge, sophistication and experience in business and
financial matters such that it is capable of evaluating the merits and risks of
the investment in the Shares. The Seller has evaluated the merits and risks of
an investment in the Shares. The Seller can bear the economic risk of this
investment, and is able to afford a complete loss of this investment;

          (d)     
the Seller acknowledges that the Buyer is in the early stages of development of
its business and the Buyer’s success is subject to a number of significant
risks, including the risk that the Buyer will not be able to finance its plan of
operations. The Seller further acknowledges that (i) the Buyer has limited cash
and working capital, (ii) the Buyer will have to raise additional capital in
order to finance its plan of operations which capital may be raised by the issue
of additional shares of its common stock which will result in dilution to the
Seller, and (iii) the Buyer has no arrangements for any financing in place and
there is no assurance that any financing will be completed;

          (e)      the
Seller has been afforded access to information about the Buyer and the Buyer’s
financial condition, results of operations, business, properties, management and
prospects sufficient it to evaluate its investment in the Shares. The Seller
further represents that it has had an opportunity to ask questions and receive
answers from representatives of the Buyer regarding the business, properties,
prospects and financial condition of the Buyer, each as is necessary to evaluate
the merits and risks of investing in the Shares. The Seller believes it has
received all the information it considers necessary or appropriate for deciding
whether to purchase the Shares. The Seller has had full opportunity to discuss
this information with the Seller’s legal and financial advisers prior to
execution of this Agreement;

          (f)     
the Seller acknowledges that the Buyer will rely on these representations in
completing the issuance of the Shares to the Seller; and

          (g)      the
Seller acknowledges that the offering of the Shares by the Buyer has not been
reviewed by the United States Securities and Exchange Commission or any state
securities regulatory authority.

6

ARTICLE 3

REPRESENTATIONS AND WARRANTIES OF BUYER

          To
induce the Seller to execute, deliver and perform this Agreement, and in
acknowledgement of Seller’s reliance on the following representations and
warranties, the Buyer hereby represents and warrants to the Seller as follows as
of the date hereof and as of the Closing Date:

          3.1      Organization.
The Buyer is a corporation duly incorporated, validly existing and in good
standing under the laws of the State of Nevada, with the power and authority to
conduct its business as it is now being conducted and to own and lease its
properties and assets.

          3.2     
Power and Authority. The Buyer has the power and authority to execute,
deliver, and perform this Agreement and the other agreements and instruments to
be executed and delivered by it in connection with the transactions contemplated
hereby, and the Buyer has taken all necessary action to authorize the execution
and delivery of this Agreement and such other agreements and instruments and the
consummation of the transactions contemplated hereby. This Agreement is, and,
when such other agreements and instruments are executed and delivered, the other
agreements and instruments to be executed and delivered by the Buyer in
connection with the transactions contemplated hereby shall be, the valid and
legally binding obligations of the Buyer, enforceable in accordance with their
respective terms.

          3.3     
Broker’s or Finder’s Fees. The Buyer has not authorized any person to act
as broker, finder, or in any other similar capacity in connection with the
transactions contemplated by this Agreement.

          3.4      No
Conflict. Neither the execution and delivery by the Buyer of this Agreement
and of the other agreements and instruments to be executed and delivered by the
Buyer in connection with the transactions contemplated hereby or thereby, nor
the consummation by the Buyer of the transactions contemplated hereby, will
violate or conflict with: (a) any foreign or local law, regulation, ordinance,
governmental restriction, order, judgment or decree applicable to the Buyer; or
(b) any provision of any charter, bylaw, or other governing or organizational
instrument of the Buyer.

          3.5     
Truth at Closing. All of the representations, warranties, and agreements
of the Buyer contained in this Agreement shall be true and correct and in full
force and effect on and as of the Closing Date.

ARTICLE 4

COVENANTS OF THE SELLER PRIOR TO CLOSING

          4.1     
Required Approvals. As promptly as practicable after the Closing, the
Seller shall make all filings required by foreign or local law to be made by
them in order to consummate the transactions contemplated hereby. The Seller
shall (a) cooperate with the Buyer with respect to all filings that the Buyer
elects to make or is required by law to make in connection with the transactions
contemplated hereby, and (b) cooperate with the Buyer in obtaining any consents
of the type described in Sections 2.4 and 2.5.

7

          4.2      Prohibited
Actions. In no event, without the prior written consent of the Buyer, shall
the Seller:

          (a)      permit
any of the Assets to be subjected to any claim or Encumbrance;

          (b)      waive
any claims or rights of substantial value respecting the Assets, or sell,
transfer, or otherwise dispose of any of the Assets, except in the ordinary
course of business and consistent with past practice; or

          (c)      dispose
of, license, or permit to lapse any rights in any Intellectual Property;

          4.3      Access.
From the date of this Agreement to the Closing Date, the Seller shall: (a)
provide the Buyer with such information and access as the Buyer may from time to
time reasonably request to the Assets.

          4.4     
Non-Solicitation. Until the completion or termination of the transactions
contemplated by this Agreement, the Seller shall not, nor shall any of its
representatives, solicit, offer or encourage any sale of any of the Assets.

ARTICLE 5

CONDITIONS TO THE SELLER’S OBLIGATIONS

          Each
of the obligations of the Seller to be performed hereunder shall be subject to
the satisfaction (or waiver by the Seller) at or prior to the Closing Date of
each of the following conditions:

          5.1     
Representations and Warranties; Performance. The Buyer shall have
performed and complied in all respects with the covenants and agreements
contained in this Agreement required to be performed and complied with by it at
or prior to the Closing Date, the representations and warranties of the Buyer
set forth in this Agreement shall be true and correct in all respects as of the
date hereof and as of the Closing Date as though made at and as of the Closing
Date (except as otherwise expressly contemplated by this Agreement), and the
execution and delivery of this Agreement by the Buyer and the consummation of
the transactions contemplated hereby shall have been duly and validly authorized
by the Buyer’s Board of Directors, and the Seller shall have received a
certificate to that effect signed by the secretary of the Buyer.

        5.2     
Litigation. No Litigation shall be threatened or pending against the
Buyer or the Seller that, in the reasonable opinion of counsel for the Seller,
could result in the restraint or prohibition of any such party, or the obtaining
of damages or other relief from such party, in connection with this Agreement or
the consummation of the transactions contemplated hereby.

          5.3     
Documents Satisfactory in Form and Substance. All agreements,
certificates, and other documents delivered by the Buyer to the Seller hereunder
shall be in form and substance satisfactory to counsel for the Seller, in the
exercise of such counsel’s reasonable judgment.

       5.4      Completion
of Share Purchase. The Seller and Coloured LLP shall have completed the
Share Purchase, other than the transfer of the Shares to Coloured LLP, such that
the Seller is, on Closing, the owner of the Assets.

8

ARTICLE 6

CONDITIONS TO THE BUYER’S OBLIGATIONS

          Each
of the obligations of the Buyer to be performed hereunder shall be subject to
the satisfaction (or the waiver by the Buyer) at or prior to the Closing Date of
each of the following conditions:

          6.1      Representations
and Warranties; Performance. The Seller shall have performed and complied in
all respects with the covenants and agreements contained in this Agreement
required to be performed and complied with by them at or prior to the Closing
Date, the representations and warranties of the Seller set forth in this
Agreement shall be true and correct in all respects as of the date hereof and as
of the Closing Date as though made at and as of the Closing Date (except as
otherwise expressly contemplated by this Agreement), and the execution and
delivery of this Agreement by the Seller and the consummation of the
transactions contemplated hereby shall have been duly and validly authorized by
the Seller’s Board of Directors, and the Buyer shall have received a certificate
to that effect signed by the secretary of the Buyer.

          6.2      Consents.
All required approvals, consents and authorizations shall have been
obtained.

          6.3     
No Litigation. No Litigation shall be threatened or pending against the
Buyer or the Seller that, in the reasonable opinion of counsel for the Buyer,
could result in the restraint or prohibition of any such party, or the obtaining
of damages or other relief from such party, in connection with this Agreement or
the consummation of the transactions contemplated hereby.

          6.4      Due
Diligence. The Buyer shall have completed its due diligence review of the
Assets and shall have been satisfied with the findings thereof.

          6.5     
Proof of Ownership of Assets. The Seller shall have delivered to the
Buyer documentary evidence of the Seller’s sole right, title and ownership
interest in and to the Assets, such evidence to be in a form satisfactory to the
Buyer in the Buyer’s sole discretion. 

        6.6      Cancellation
of Licenses The Seller shall provide the Buyer with proof of termination of
all licenses and other rights of use of the Assets by providing to the Buyer
fully executed Termination and Release Agreements for each of the License
Agreements.

          6.7      Cancellation
of Security The Seller shall provide the Buyer with proof of the release of
the Security held by MFC Merchant Bank SA over the Assets.

       6.8      Completion
of Share Purchase. The Coloured LLP and the Seller shall have completed the
Share Purchase such that the Seller is the sole shareholder of Holdco as at the
Closing Date.

ARTICLE 7

COVENANTS OF THE SELLER AND THE BUYER FOLLOWING
CLOSING

          7.1      Allocation
of Purchase Price; Transfer Taxes.

9

          (a)      Consistent
with applicable tax rules, the Buyer shall allocate the Purchase Price to the
Assets. The Buyer shall prepare and file, in a timely fashion, forms in a manner
consistent with such allocation with the relevant tax authority. All tax returns
and reports filed or prepared by the Buyer and/or the Seller with respect to the
transactions contemplated by this Agreement shall be consistent with the
allocation made by the Buyer under this Section 7.1(a) . 

          (b)      All
sales, transfer, and similar taxes and fees (including all recording fees, if
any) incurred in connection with this Agreement and the transactions
contemplated hereby shall be borne by the Seller and the Seller shall file all
necessary documentation with respect to such taxes.

          7.2      Further
Assurances. Subject to the terms and conditions of this Agreement, each
party agrees to use all of its reasonable efforts to take, or cause to be taken,
all actions and to do or cause to be done, all things necessary and proper or
advisable to consummate and make effective the transactions contemplated by this
Agreement (including the execution and delivery of such further instruments and
documents) as the other party may reasonably request.

          7.3      Nondisclosure
of Proprietary Data. The Parties shall hold in a fiduciary capacity for the
benefit of each other all secret or confidential information, knowledge or data
relating to the each other or any of their affiliated companies, and their
respective businesses, which shall not be or become public knowledge. Neither
Party, without the prior written consent of the other, or as may otherwise be
required by law or legal process, shall communicate or divulge either before or
after the Closing Date any such information, knowledge or data to anyone other
than the other Party and those designated by the other Party in writing.

ARTICLE 8

SURVIVAL AND INDEMNITY

          8.1      Survival
of Representations, Warranties, etc. Each of the representations,
warranties, agreements, covenants and obligations herein is material and shall
be deemed to have been relied upon by the other party or parties and shall
survive indefinitely after the date hereof and after the Closing and shall not
merge in the performance of any obligation by any party hereto. All rights to
indemnification contained in this Agreement shall survive the Closing
indefinitely.

          8.2     
Indemnification by the Seller and Buyer. The parties shall indemnify,
defend, and hold harmless each other, and the each others representatives,
stockholders, controlling persons and affiliates, at, and at any time after, the
Closing, from and against any and all demands, claim, actions, or causes of
action, assessments, losses, damages (including incidental and consequential
damages), liabilities, costs, and expenses, including reasonable fees and
expenses of counsel, other expenses of investigation, handling, and Litigation
(as defined in Section 2.13), and settlement amounts, together with interest and
penalties (collectively, a “Loss” or “Losses”), asserted against,
resulting to, imposed upon, or incurred by the either party, directly or
indirectly, by reason of, resulting from, or arising in connection with: (i) any
breach of any representation, warranty, or agreement of either party contained
in or made pursuant to this Agreement, including the agreements and other
instruments contemplated hereby; (ii) any breach of any representation,
warranty, or agreement of either party contained in or made pursuant to this
Agreement, including the agreements and other instruments contemplated hereby,
as if such representation or warranty were made on and as of 

10

the Closing Date; (iii) any claim by any person for brokerage
or finder’s fees or commissions or similar payments based upon any agreement or
understanding alleged to have been made by any such person with either party in
connection this Agreement or any of the transactions contemplated hereby; and
(iv) to the extent not covered by the foregoing, any and all demands, claims,
actions or causes of action, assessments, losses, damages, liabilities, costs,
and expenses, including reasonable fees and expenses of counsel, other expenses
of investigation, handling, and Litigation and settlement amounts, together with
interest and penalties, incident to the foregoing.

          The
remedies provided in this Section 8.2 will not be exclusive of or limit any
other remedies that may be available to the either party to this Agreement.

ARTICLE 9

TERMINATION

          9.1     
Termination. This Agreement may be terminated at any time prior to the
Closing Date:

          (a)      by
mutual written consent of the Seller and the Buyer;

          (b)      by
either the Seller or the Buyer if (i) there shall have been a material breach of
any representation, warranty, covenant or agreement set forth in this Agreement,
on the part of the Buyer, in the case of a termination by the Seller, or on the
part of the Seller, in the case of a termination by the Buyer, which breach
shall not have been cured, in the case of a representation or warranty, prior to
Closing or, in the case of a covenant or agreement, within ten (10) business
days following receipt by the breaching party of notice of such breach, or (ii)
any permanent injunction or other order of a court or other competent authority
preventing the consummation of the transactions contemplated hereby shall have
become final and non-appealable; or

          (c)     
by either the Seller or the Buyer if the transactions contemplated hereby shall
not have been consummated on or before March 31, 2006; provided,
however, that the right to terminate this Agreement pursuant to this
Section 9.1(c) shall not be available to any party whose failure to fulfill any
obligation under this Agreement has been the cause of, or resulted in, the
failure of the consummation of the transactions contemplated hereby to have
occurred on or before the aforesaid date.

          9.2     
Effect of Termination. Each party’s right of termination under Section
9.1 is in addition to any other rights it may have under this Agreement or
otherwise, and the exercise of a right of termination will not be an election of
remedies. If this Agreement is terminated pursuant to Section 9.1, unless
otherwise specified in this Agreement, all further obligations of the parties
under this Agreement will terminate; provided, however, that if
this Agreement is terminated by a party because of the breach of this Agreement
by the other party or because one or more of the conditions to the terminating
party’s obligations under this Agreement is not satisfied as a result of the
other party’s failure to comply with its obligations under this Agreement, the
terminating party’s rights to pursue all legal remedies will survive such
termination unimpaired. 

11

ARTICLE 10

MISCELLANEOUS

          10.1     
Entire Agreement. This Agreement, and the other certificates, agreements,
and other instruments to be executed and delivered by the parties in connection
with the transactions contemplated hereby, constitute the sole understanding of
the parties with respect to the subject matter hereof and supersede all prior
oral or written agreements with respect to the subject matter hereof.

          10.2      Parties
Bound by Agreement; Successors and Assigns. The terms, conditions, and
obligations of this Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and assigns.

          10.3     
Amendments and Waivers. No modification, termination, extension, renewal
or waiver of any provision of this Agreement shall be binding upon a party
unless made in writing and signed by such party. A waiver on one occasion shall
not be construed as a waiver of any right on any future occasion. No delay or
omission by a party in exercising any of its rights hereunder shall operate as a
waiver of such rights.

          10.4     
Severability. If for any reason any term or provision of this Agreement
is held to be invalid or unenforceable, all other valid terms and provisions
hereof shall remain in full force and effect, and all of the terms and
provisions of this Agreement shall be deemed to be severable in nature. If for
any reason any term or provision containing a restriction set forth herein is
held to cover an area or to be for a length of time which is unreasonable, or in
any other way is construed to be too broad or to any extent invalid, such term
or provision shall not be determined to be null, void and of no effect, but to
the extent the same is or would be valid or enforceable under applicable law,
any court of competent jurisdiction shall construe and interpret or reform this
Agreement to provide for a restriction having the maximum enforceable area, time
period and other provisions (not greater than those contained herein) as shall
be valid and enforceable under applicable law.

          10.5      Attorney’s
Fees. Should any party hereto retain counsel for the purpose of enforcing,
or preventing the breach of, any provision hereof including, but not limited to,
the institution of any action or proceeding, whether by arbitration, judicial or
quasi-judicial action or otherwise, to enforce any provision hereof or for
damages for any alleged breach of any provision hereof, or for a declaration of
such party’s rights or obligations hereunder, then, whether such matter is
settled by negotiation, or by arbitration or judicial determination, the
prevailing party shall be entitled to be reimbursed by the losing party for all
costs and expenses incurred thereby, including, but not limited to, reasonable
attorneys’ fees for the services rendered to such prevailing party.

          10.6     
Counterparts. This Agreement may be executed in one or more counterparts,
each of which shall for all purposes be deemed to be an original and all of
which shall constitute the same instrument.

          10.7      Headings.
The headings of the sections and paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or
to affect the construction hereof.

12

          10.8      Expenses.
Except as specifically provided herein, the Seller and the Buyer shall each pay
all costs and expenses incurred by it or on its behalf in connection with this
Agreement and the transactions contemplated hereby, including fees and expenses
of its own financial consultants, accountants, and counsel.

          10.9      Notices.
All notices, requests, demands, claims, and other communications which are
required or may be given under this Agreement shall be in writing and shall be
deemed to have been duly given five business days after such notice, request,
demand, claim or other communication is sent, if sent by registered or certified
mail, return receipt requested, postage prepaid; and, in any case, all such
communications must be addressed to the intended recipient at the address set
forth on the first page of this Agreement. Any party may send any notice,
request, demand, claim, or other communication hereunder to the intended
recipient at the address set forth above using any other means, but no such
notice, request, demand, claim, or other communication shall be deemed to have
been duly given unless and until it actually is received by the intended
recipient. Any party may change the address to which notices, requests, demands,
claims, and other communications hereunder are to be delivered by giving the
other party notice in the manner herein set forth.

          10.10     Governing
Law. This Agreement shall be construed in accordance with and governed by
the laws of the State of Nevada without giving effect to the principles of
choice of law thereof.

          10.11     Arbitration.
Any dispute arising under or in connection with any matter related to this
Agreement or any related agreement shall be resolved exclusively by arbitration.
The arbitration shall be in conformity with and subject to the applicable rules
and procedures of the American Arbitration Association. All parties agree to be
(1) subject to the jurisdiction and venue of the arbitration in the State of
Nevada, (2) bound by the decision of the arbitrator as the final decision with
respect to the dispute and (3) subject to the jurisdiction of the Superior Court
of the State of Nevada for the purpose of confirmation and enforcement of any
award.

          10.12    
References, etc.

          (a)      Whenever
reference is made in this Agreement to any Article, Section, or paragraph, such
reference shall be deemed to apply to the specified Article, Section or
paragraph of this Agreement.

          (b)     
Wherever reference is made in this Agreement to a Schedule, such reference shall
be deemed to apply to the specified Schedule attached hereto, which are
incorporated into this Agreement and form a part hereof. All terms defined in
this Agreement shall have the same meaning in the Schedules attached hereto.

          (c)      Any
form of the word “include” when used herein is not intended to be exclusive
(e.g., “including” means “including, without limitation”).

          10.13    
No Strict Construction. The language used in this Agreement will be
deemed to be the language chosen by the parties hereto to express their mutual
intent, and no rule of strict construction will be applied against any
person.

          10.14    
No Third Party Beneficiary Rights. No provision in this Agreement is
intended or shall create any rights with respect to the subject matter of this
Agreement in any third party.

13

          10.15    
Such Other Acts. The parties hereto shall do all things, take such acts
and execute such documents as are necessary to give effect to the intention
herein contemplated.

          10.16    
Electronic Means. Delivery of an executed copy of this Agreement by
electronic facsimile transmission or other means of electronic communication
capable of producing a printed copy will be deemed to be execution and delivery
of this Agreement as of the date first indicated above.

14

IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed on its behalf as of the date first indicated above.

	 	COLOURED (US) INC. 
	 	  	  
	 	  	
	 	By: 	/s/ Lars Brannvall 
	 	Name: 	  
	 	Title: 	  
	 	  	  
	 	  	  
	 	  	  
	 	 COLOURED INDUSTRY INC. 
	 	  	  
	 		 
	 	By: 	 /s/ Laura Mouck 
	 	Name: 	Laura Mouck 
	 	Title: 	Director 
	 	  	N.D. Holdings Ltd. 

15

SCHEDULE A

INTELLECTUAL PROPERTY

Trade Marks

There is no trademark associated with the Assets. 

Patent Applications

The is no patent application associated with the Assets 

Internet Domain Names

There is no Internet domain name associated with the Assets.

Copyright

The Owned Software described in Schedule “C” below.

16

SCHEDULE B

LICENSING AGREEMENTS

License Agreements

	Agency Exploitation Agreement dated August 6, 2003 between the Coloured
  Industry Technology Partnership LLP and Coloured Industry Limited. 

Licensed Software

See Licensed Software set forth in Schedule “C” below.

17

SCHEDULE C

SOFTWARE

Technology Overview

The Company’s goal is to provide SMS-based mobile entertainment
to any owner of a mobile phone on the GSM networks. The Company’s Coloured
Industry technology software suite consists of multi-player, location based
mobile action and role-playing games. 

Games

Flirtylizer

Flirtylizer allows a user to send pre-set text messages to
another user’s mobile phone to allow chat with someone another user they know
without that other user knowing the identity of the person sending the message.
The receiver gets a text message informing him or her that someone they know is
flirting with them, and they must correctly guess the sender’s identity in order
to have it revealed. Both parties then receive a message confirming that the
receiver has correctly guessed the identity of the sender. A fun way for users
to interact using the SMS feature.

Voodolizer

Voodolizer provides a casual spin on the idea behind
Flirtylizer. The receiver will get text message “spell” saying that something
will happen to their mobile phone (for example, all the phone numbers stored in
the receiver’s mobile phone will be deleted) unless the receiver can “throw the
spell” by guessing the sender’s identity with a text message. If the guess is
correct, both parties are informed that the spell has been lifted. 

Banana Battle

Banana Battle is a simple duelling game where players must hit
their opponents with a banana by guessing the distance between themselves and
their opponents by text message. Players send their guess as to their distance
to the other player by text message, with the computer automatically sending
back responses after each throw (hit or miss), until one player correctly
guesses the distance and hits their opponent, ending the game.

Get Nessie

Players of Get Nessie try to become the top ranked scientist by
catching the Loch Ness Monster. Doing so requires a player to send text messages
containing coordinates for the placement of sonar buoys on the surface of the
lake in which Nessie lives and analyzing the data that comes back from the
server via text message. The lake is full of things other than Nessie, and a
player has a choice of several actions they may take with the information
received, such as attempting to take pictures of whatever they find or try
catching it. Players can check our website at any time to see the latest news on
the hunt.

18

Hunters & Collectors

Hunters & Collectors is a “soft battle” game where players
duel each other with weapons such as sticks and water balloons. It is similar to
Mobile Warrior in the manner in which players register and play, but with a less
battle-like tone. Players initially register and create a character for the game
on the Company’s website, and then challenge and battle players in the same
manner as with Mobile Warrior.

System Overview

The games are hosted on the Company’s server. These games
feature location-based service (LBS) technology which allows users the ability
to play the games against other registered players located in the user’s
vicinity. The physical location of the user therefore has a direct impact on the
ongoing play of the game. The result is a new dimension of interactivity in game
play through a web-based community of similar users. A graphical representation
of this connections between the servers and a player’s mobile phone is as
follows:

 

LDT (Location Determination Technology) in the diagram refers
to software which permits the player to utilize the LBS features of our games.
This service is provided to suppliers such as CI Mobile Gaming by third party
suppliers such as Teydo (http://www.teydo.com/teydo/uk/en/). The SMS-C gateway
is the connection point between the Company’s server and a particular player’s
wireless network provider (represented by the GSM Network in the above diagram).
The SMS-C gateway provides a number of services, in particular the regulation of
the transfer of text messages to mobile phones via the wireless network
provider. There are a number of companies that aggregate gateway connections to
the SMS-C’s, ensuring a single point of access to a global network of SMS
gateways and wireless network providers.

All of the games are played entirely by text messages sent
between a player and the Company’s servers, and do not require any software to
be downloaded onto a player’s mobile phone. Players do not have any direct
communication with each other, protecting each player’s identity and privacy,
while still having a completely interactive experience through the game. To
illustrate, each player will go through the following series of steps 

	1. 	
      Once a player has registered by text message or on the
      Internet to play a game, they are sent a text message containing the
      telephone number to the server on which that particular game is stored and
      a key code for the game. When the player wishes to
play,

19

they send a text message through their
operator’s network to our server. The key code indicates what game the player
wants to play 

 

	2. 	
      This text message, including LBS information about the
      player’s location, is received by the Company’s server. Depending on what
      message the player has sent and his/her location, the server responds
      accordingly and sends a response to the mobile phone
  user.

 

	3. 	
      This message triggers another message to be sent by the
      mobile phone user.

The games drive revenue-generation through the use of text
messages by the players who are charged by their wireless network provider for
each text message they send, a portion of which the Company receives by
agreement with the gateway owner through which the player registered to
play.

The games are simple, fun and easy to learn, each requiring
only the memorization of a few simple commands which they communicate by text
message to the servers. The user can access registration and support information
either through their mobile phone or, for most of the Company’s games, on the
Internet. The user can then enjoy the added benefit of joining and interacting
with a community of users with similar game-playing interests. The games can
also support Multimedia Messaging Service (MMS) technology, which will
eventually allow the addition of sound, graphics and even video to the Company’s
existing games. 

System Specification

The following section describes common components that the
engines and applications are built of.

	 	(a) 	
      Customer Management:

	 	 	 
	 		
      Handles information about mobile operators and
      distributors.

20

	 	(b) 	
      User Management:

	 	 	 
	 		
      Contains information about end users, like MSISDN,
      preferred language and alias.

	 	 	 
	 	(c) 	
      Service Management:

	 	 	 
	 		
      Handles information about services, like name,
      description, default language and connections (SMS, MMS, WAP,
  etc).

	 	 	 
	 	(d) 	
      Location Info Broker:

	 	 	 
	 		
      Provides location-based information for LBS (Location
      Based Services). Currently supporting MPS from Ericsson and local.info
      from Openwave.

	 	 	 
	 	(e) 	
      Reporting module:

	 	 	 
	 		
      Collects statistics in the platform. For example in- and
      out-going SMS, WAP sessions, downloads of ring tones and icons.

	 	 	 
	 	(f) 	
      Interoperability Management:

	 	 	 
	 		
      Makes it possible for one service to work with several
      operators (so that for example person A can challenge person B in a game,
      without having the same mobile operator).

Hardware

DELL PowerEdge 6400 / 900MHz / 6 x 18GB / 8 x 512 MB 

Operation system 

Linux, RedHat 7.0. Kernel 2.4.17

Owned Software

The code to the above mentioned applications. 

Licensed Software 

Nil 

Third Party / Open Source Software

IBM_HTTP_Server/1.3.12.5 Apache/1.3.12 (Unix) 

IBM WebSphere Application Server 3.5.3 

IBM DB2 7.1.2

21

ASSIGNMENT OF INTELLECTUAL PROPERTY

                    WHEREAS
COLOURED INDUSTRY INC., a company incorporated in Antigua and having a
registered address at FDCICI Building, Lower Factory Road, Antigua (the
“Assignor”), is the owner of all right, title and interest in and to all
of the Intellectual Property and Permits, as such terms are defined in an Asset
Purchase Agreement dated as of January 31, 2006 by and between the Assignor and
COLOURED (US) INC. (the “Assignee”); AND WHEREAS the Assignee
COLOURED (US) INC. a company incorporated under the laws of State of
Nevada and having a business address at Suite 5.15, 130 Shaftsbury Avenue,
London England, (the “Assignee”), is desirous of securing the entire
right, title and interest in and to the Intellectual Property and Permits;

                    NOW,
THEREFORE, be it known that, for good and valuable consideration the sufficiency
and receipt of which from Assignee is hereby acknowledged, we, as Assignor, have
sold, assigned, transferred, and set over, and do hereby sell, assign, transfer,
and set over unto the Assignee, its lawful successors and assigns, our entire
right, title, and interest in and to the Intellectual Property and Permits.

                    AND,
WE HEREBY further covenant and agree that We, as Assignor, will, without further
consideration, communicate with the Assignee, its successors and assigns, any
facts known to us respecting the Intellectual Property and Permits and testify
in any legal proceeding, sign all lawful papers when called upon to do so,
execute and deliver all papers that may be necessary or desirable to perfect the
title to the Intellectual Property and Permits in said Assignee, its successors
and assigns. understanding that any expense incident to the execution of such
papers shall be borne by the Assignee, its successors and assigns.

22

EXECUTED this _____day of _____________, 2006. 

  IN TESTIMONY WHEREOF, We have hereunto set our hands.

	 

          COLOURED INDUSTRY INC. 

          

          Per: /s/ Laura Mouck N.D. Holdings Ltd.                

                 Authorized Signatory 

	 WITNESS: 

          On this 17th day of February, 2006, before me personally appeared Laura
          Mouck, who is known to me to be the individual who executed the foregoing
          instrument on behalf of the Assignor and who acknowledged to me that
          he/she executed the same and was duly authorized by the Assignor to
          do so. 

          

          Malcolm Nickerson                                     

          (Name of Witness) 

          

          

          /s/ Malcolm Nickerson                                  

          (Signature of Witness)

          

          

          Prasanmitr Thani Tower, #2404, 41 Sukhumvit S0123

          Klongtoey Nua, Wattana Bangkok 10110 Thailand                   

          (Address of Witness) 

23

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