Document:

EXHIBIT 10.14

                                 PROMISSORY NOTE

                          GREEN MOUNTAIN CAPITAL, INC.

Miami, Florida                                          US $____________________
_____________ ___, 2007

FOR VALUE RECEIVED,  the  undersigned,  GREEN MOUNTAIN  CAPITAL,  INC., a Nevada
corporation   (the   "Company"),   hereby  promises  to  pay  to  the  order  of
________________ (hereinafter, with any subsequent holder, the "Holder"), at the
Company's  principal  corporate  office, or at such other place or to such other
party as the Holder of this  Promissory  Note (the "Note") may from time to time
designate   in   writing,    the   principal   sum   of    _____________________
($________________)  together  with  interest  on the  principal  balance in the
manner and upon the terms and  conditions  set forth  below.  All cash  payments
hereunder  shall  be  made  in  lawful  currency  of the  United  States  and in
immediately available funds.

As an  inducement  to the Holder to lend to the  Company the  principal  sum set
forth  in  this  Note,   the   Company's   wholly-owned   subsidiary,   Internet
Telecommunications Plc, a corporation formed under the laws of England and Wales
and domiciled in the United Kingdom  ("ITPLC"),  has executed this Note in order
to be bound by the  respective  provisions  of  Section 8 and  Section 9 of this
Note.

      1. Rate and Payment of Interest.  The principal balance of this Note shall
bear  interest  at a fixed  rate  per  annum  equal  to  twelve  percent  (12%),
compounding  annually.  Interest  shall be calculated on the basis of the actual
number of days elapsed  over a 360 day year and shall  commence to accrue on the
date hereof.  Accrued interest shall be paid on (i) the first (1st)  anniversary
of the date of the final closing of the Company's  private offering  pursuant to
that certain  Confidential Private Placement Memorandum dated as of December 19,
2006 (the "PPM") and on (ii) the Maturity Date (as defined herein). If this Note
is prepaid  pursuant to the terms of Section 3 hereof,  the prepayment sum shall
include all unpaid interest accrued through the date of prepayment.

            This Note is subject to the express  condition that at no time shall
the Company be obligated  or required to pay interest  hereunder at a rate which
could  subject the Company to either civil or criminal  liability as a result of
being in excess of the  maximum  rate which the Company is  permitted  by law to
contract or agree to pay.  If, by the terms of this Note,  the Company is at any
time  required or  obligated to pay interest at a rate in excess of such maximum
rate,  the rate of  interest  under this Note shall be deemed to be  immediately
reduced to such maximum rate and interest payable hereunder shall be computed at
such  maximum rate and the portion of all prior  interest  payments in excess of
such maximum rate shall be applied and shall be deemed to have been  payments in
reduction of the principal balance of this Note.

      2.  Maturity  Date;  Payments.  The  entire  unpaid  amount of this  Note,
together with all accrued,  but unpaid,  interest and all other fees, costs, and
charges,  if any,  thereon,  shall be due and payable on September 30, 2008 (the
"Maturity  Date").  If any amounts due under this Note are due on a day which is
not a business  day,  then such amounts  shall be due on the next  following day
which is a regular  business  day. All  payments on account of the  indebtedness
evidenced by this Note shall be applied first,  to accrued and unpaid  interest,
and second, to the unpaid principal balance hereof.

<PAGE>

      3.  Prepayment.  Voluntary  prepayments  of the principal sum of this Note
shall be permitted at any time, in whole or in part, without penalty or premium.
Amounts repaid or prepaid with respect to this Note may not be reborrowed.

      4. Conversion.

            (a) Conversion  Option on Default.  If the principal balance of this
Note and any accrued, but unpaid,  interest thereon is not paid to the Holder on
or before the Maturity  Date,  then the principal  balance of and unpaid accrued
interest, including interest accrued at the Default Interest Rate (as defined in
Section 6 hereof),  on this Note may, at the option of the Holder,  be converted
into the number of shares of Common Stock of the Company  determined by dividing
(i) the  amount of this  Note  being  converted  by (ii) the  Conversion  Price.
"Common Stock" shall mean the common stock of the Company and "Conversion Price"
shall the  price  per  share  equal to the lower of (i) $0.15 or (ii) 85% of the
average closing stock price of the Company's Common Stock on the 10 trading days
immediately prior to the Maturity Date.

            (b) Manner of Exercise of  Conversion  Option.  In order to exercise
its conversion  option,  the Holder shall deliver  written notice to the Company
that the  Holder  elects to  convert  all or part of the  outstanding  principal
balance of this Note together with any accrued  interest thereon (the "Surrender
Notice"). The Surrender Notice must be received by the Company at least ten (10)
business days after the Maturity Date.  Such notice shall also state the name or
names (with  address) in which the  certificate  or  certificates  for shares of
Common  Stock  issuable  on such  conversion  shall be  issued,  subject  to any
restrictions  on transfer under  applicable  securities  laws as to issuances to
persons other than the Holder.  Within twenty (20) days after the receipt of the
Surrender  Notice and the  surrender of this Note,  the Company  shall issue and
deliver to such holder,  or to its written order, a certificate or  certificates
for the number of full  shares of Common  Stock  issuable  in  exchange  for the
amount of such Note to be  converted,  and cash in respect of any  fraction of a
share of common stock which would  otherwise be issuable upon such conversion in
an amount equal to the Conversion Price. Such conversion shall be deemed to have
been effected on the Maturity Date, as applicable,  and the person or persons in
whose name or names any certificate or  certificates  for shares of Common Stock
shall be issuable  upon such  conversion  shall be deemed to have become on said
date the holder or holders of record of the shares represented  thereby. In case
this Note  shall be  surrendered  for the  conversion  of only a portion  of the
amount  thereof,  the Company  shall at the time of issuing the shares of Common
Stock  issuable upon the  conversion of such portion  execute and deliver to the
Holder a new Note equal in amount to the unconverted  portion of the surrendered
Note,  dated the most recent date to which  interest shall have been paid on the
surrendered  Note, and with  conversion and repayment  terms and a maturity that
are the same as the surrendered Note.

            As a condition to receiving any shares of Common  Stock,  the Holder
shall  also,  upon the request of the  Company,  execute and deliver any further
documents as may be required of other investors in the Company, including by way
of example, any accredited investor  qualifications,  shareholder  agreements or
other agreements executed and delivered by investors.

<PAGE>

5. Conversion Price Adjustment.

            (a) If  outstanding  shares of the  Company's  Common Stock shall be
subdivided into a greater number of shares thereof or a dividend in Common Stock
shall be paid in  respect  of  Common  Stock,  the  Conversion  Price in  effect
immediately  prior to such  subdivision  or at the record date of such  dividend
shall  simultaneously  with the effectiveness of such subdivision or immediately
after  the  record  date  of  such  dividend  be  proportionately   reduced  and
conversely,  if  outstanding  shares of Common  Stock shall be  combined  into a
smaller number of shares  thereof,  the Conversion  Price in effect  immediately
prior to such combination shall,  simultaneously  with the effectiveness of such
combination, be proportionately increased. When any adjustment is required to be
made in the Conversion Price, the number of shares of Common Stock issuable upon
the  conversion  of this Note  shall be  changed  to the  number  determined  by
dividing  (i) an amount equal to the number of shares  issuable  pursuant to the
conversion of this Note immediately  prior to such adjustment  multiplied by the
Conversion Price in effect  immediately  prior to such  adjustment,  by (ii) the
Conversion Price in effect immediately after such adjustment.

            (b)  If  there   shall   occur   any   capital   reorganization   or
reclassification of the Company's Common Stock (other than a change in par value
or a subdivision or combination as provided for in subparagraph  (a) above),  or
any consolidation or merger of the Company with or into another corporation,  or
in the case of any  sale,  transfer  or other  disposition  to  another  person,
corporation or other entity of all or  substantially  all the property,  assets,
business and good will of the Company as an entirety,  then, as part of any such
reorganization, reclassification, consolidation, merger, sale, transfer or other
disposition,  as the case  may be,  lawful  provision  shall be made so that the
registered  owner of this Note shall have the right  thereafter  to receive upon
the conversion hereof the kind and amount of shares of stock or other securities
or property which said registered  owner would have been entitled to receive if,
immediately prior to any such reorganization,  reclassification,  consolidation,
merger, sale, transfer or other disposition, as the case may be, said registered
owner had held the number of shares of Common  Stock  which  were then  issuable
upon the conversion of this Note. In any such case,  appropriate  adjustment (as
determined  by the  Board  of  Directors  of the  Company)  shall be made in the
application  of the  provisions  set forth herein with respect to the rights and
interests  thereafter  of the  registered  owner  of this  Note  such  that  the
provisions set forth herein (including  provisions with respect to adjustment of
the Conversion Price) shall thereafter be applicable, as nearly as is reasonably
practicable,  in relation to any shares of stock or other securities or property
thereafter deliverable upon the conversion of this Note.

            (c) In case the  Company  shall  declare a dividend  upon  shares of
Common  Stock  payable  otherwise  than out of  earnings  or earned  surplus and
otherwise than in shares of Common Stock or in stock or obligations  directly or
indirectly  convertible into or exchangeable for Common Stock, the Holder shall,
upon  conversion of this Note in whole or in part,  be entitled to purchase,  in
addition  to the  number  of  shares  of  Common  Stock  deliverable  upon  such
conversion against payment of the Conversion Price therefor, but without further
consideration,  the cash, stock or other securities or property which the Holder
would have received as dividends  (otherwise than out of such earnings or earned
surplus and otherwise  than in shares of Common Stock or in such  convertible or
exchangeable  stock or  obligations),  if continuously  since the date set forth
above  such  holder (i) had been the holder of record of the number of shares of
Common  Stock  deliverable  upon  such  conversion  and  (ii) had  retained  all
dividends  in stock or other  securities  (other than shares of Common  Stock or
such  convertible  or  exchangeable  stock or  obligations)  paid or  payable in
respect of said number of shares of Common Stock or in respect of any such stock
or other  securities so paid or payable as such dividends.  For purposes of this
subparagraph  (c), a dividend payable otherwise than in cash shall be considered
to be  payable  out of  earnings  or earned  surplus  and shall be charged in an
amount equal to the fair value of such  dividend as  determined  by the Board of
Directors of the Company.

<PAGE>

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

                  (i)  Adjustments  for Issuance of Additional  Shares of Common
Stock. In the event the Company, shall, at any time, from time to time, issue or
sell any shares of additional shares of Common Stock (otherwise than as provided
in the  foregoing  sections  (a)  through  (c) of this  Section 5 or pursuant to
Common  Stock  Equivalents  (hereafter  defined)  granted or issued prior to the
Issuance Date) ("Additional  Shares of Common Stock"), at a price per share less
than the  Conversion  Price  then in effect or without  consideration,  then the
Conversion  Price upon each such  issuance  shall be reduced to a price equal to
the consideration per share paid for such Additional Shares of Common Stock.

                  (ii) Issuance of Common Stock Equivalents.  If the Company, at
any  time  after  the  issue  date of this  Note,  shall  issue  any  securities
convertible  into or  exchangeable  for,  directly or  indirectly,  Common Stock
("Convertible  Securities"),  other than the Notes, or any rights or warrants or
options to purchase any such Common Stock or  Convertible  Securities,  shall be
issued or sold (collectively,  the "Common Stock Equivalents") and the aggregate
of the  price  per share  for  which  Additional  Shares of Common  Stock may be
issuable  thereafter  pursuant  to  such  Common  Stock  Equivalent,   plus  the
consideration  received  by the  Company  for  issuance  of  such  Common  Stock
Equivalent  divided by the number of shares of Common Stock issuable pursuant to
such Common Stock  Equivalent  (the "Aggregate Per Common Share Price") shall be
less than the applicable  Conversion Price then in effect, or if, after any such
issuance of Common Stock  Equivalents,  the price per share for which Additional
Shares of Common Stock may be issuable  thereafter  is amended or adjusted,  and
such price as so amended shall make the Aggregate Per Common Share Price be less
than the applicable  Conversion Price in effect at the time of such amendment or
adjustment,  then the  applicable  Conversion  Price upon each such  issuance or
amendment  shall be adjusted as provided in the first sentence of subsection (i)
of this  Section  5(d) on the basis that (1) the  maximum  number of  Additional
Shares of Common Stock  issuable  pursuant to all such Common Stock  Equivalents
shall  be  deemed  to  have  been  issued  (whether  or not  such  Common  Stock
Equivalents are actually then exercisable,  convertible or exchangeable in whole
or in part) as of the earlier of (A) the date on which the  Company  shall enter
into a firm  contract for the issuance of such Common Stock  Equivalent,  or (B)
the date of actual  issuance of such Common Stock  Equivalent.  No adjustment of
the applicable  Conversion  Price shall be made under this  subsection (ii) upon
the  issuance  of any  Convertible  Security  which is  issued  pursuant  to the
exercise of any warrants or other  subscription or purchase rights therefor,  if
any  adjustment  shall  previously  have been made to the exercise price of such
warrants  then in effect  upon the  issuance of such  warrants  or other  rights
pursuant to this subsection  (ii). No adjustment shall be made to the Conversion
Price upon the issuance of Common Stock pursuant to the exercise,  conversion or
exchange  of any  Convertible  Security  or  Common  Stock  Equivalent  where an
adjustment  to the  Conversion  Price  was made as a result of the  issuance  or
purchase of any Convertible Security or Common Stock Equivalent.

<PAGE>

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

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

                        (2) in the event of any  consolidation  or merger of the
Company in which the Company is not the  surviving  corporation  or in which the
previously  outstanding  shares of Common Stock of the Company  shall be changed
into or exchanged for the stock or other securities of another  corporation,  or
in the  event  of any  sale of all or  substantially  all of the  assets  of the
Company for stock or other securities of any  corporation,  the Company shall be
deemed  to have  issued a number  of  shares  of its  Common  Stock for stock or
securities or other property of the other  corporation  computed on the basis of
the actual exchange ratio on which the  transaction  was  predicated,  and for a
consideration  equal to the fair market value on the date of such transaction of
all such stock or securities or other property of the other corporation.  If any
such calculation  results in adjustment of the applicable  Conversion  Price, or
the number of shares of Common Stock issuable upon  conversion of this Note, the
determination  of the  applicable  Conversion  Price or the  number of shares of
Common Stock  issuable upon  conversion of this Note  immediately  prior to such
merger,  consolidation  or  sale,  shall be made  after  giving  effect  to such
adjustment of the number of shares of Common Stock  issuable upon  conversion of
this Note.  In the event Common Stock is issued with other shares or  securities
or other  assets  of the  Company  for  consideration  which  covers  both,  the
consideration computed as provided in this Section 5(d) (iii) shall be allocated
among such  securities  and assets as  determined  in good faith by the Board of
Directors of the Company.

                  (iv)  Superseding  Adjustment.  If,  at  any  time  after  any
adjustment of the Conversion  Price then in effect shall have been made pursuant
to Section  5(d)(i) as the result of any issuance of Common  Stock  Equivalents,
and (x) such Common Stock Equivalents, or the right of conversion or exchange in
such Common Stock Equivalents, shall expire, and all or a portion of such or the
right of  conversion or exchange with respect to all or a portion of such Common
Stock Equivalents, as the case may be, shall not have been exercised, or (y) the
consideration  per share for which shares of Common Stock are issuable  pursuant
to such  Common  Stock  Equivalents  shall  be  increased,  then  such  previous
adjustment  shall be rescinded and annulled and the Additional  Shares of Common
Stock which were deemed to have been issued by virtue of the computation made in
connection  with the  adjustment  so rescinded  and annulled  shall no longer be
deemed to have been issued by virtue of such computation. Upon the occurrence of
an  event  set  forth  in  this  Section  5(d)(iv)  above,   there  shall  be  a
recomputation  made of the effect of such Common Stock  Equivalents on the basis
of: (i) treating  the number of  Additional  Shares of Common Stock  theretofore
actually  issued or issuable  pursuant to the previous  exercise of Common Stock
Equivalents  or any such right of conversion or exchange,  as having been issued
on the date or dates of any such  exercise  and for the  consideration  actually
received  and  receivable  therefor,  and (ii)  treating  any such Common  Stock
Equivalents  which then  remain  outstanding  as having  been  granted or issued
immediately  after the time of such increase of the  consideration per share for
which  Additional  Shares of Common Stock are  issuable  under such Common Stock
Equivalents;  whereupon a new adjustment of the Conversion  Price then in effect
shall be made, which new adjustment  shall supersede the previous  adjustment so
rescinded and annulled.

<PAGE>

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

                  (vi)  Certain  Issues  Excepted.  For purposes of this Note, a
"Subsequent  Financing"  shall be defined as any subsequent offer or sale to, or
exchange  with (or other type of  distribution  to),  any third  party of Common
Stock or any securities  convertible,  exercisable or  exchangeable  into Common
Stock,  including  debt  securities  so  convertible,  in a private  transaction
(collectively,  the "Financing  Securities")  other than a Permitted  Financing.
Anything  herein  to the  contrary  notwithstanding,  the  Company  shall not be
required  to make  any  adjustment  to the  Conversion  Price in the case of any
Permitted Financing. For purposes of this Note, "Permitted Financing" shall mean
any transaction involving (1) the Company's issuance of any Financing Securities
(other than for cash) in connection with a merger,  acquisition or consolidation
of the Company, (2) the Company's issuance of Financing Securities in connection
with strategic license  agreements and other partnering  arrangements so long as
such  issuances  are not for the purpose of raising  capital,  (3) the Company's
issuance of Financing  Securities in connection with bona fide firm underwritten
public offerings of its securities,  (4) the Company's  issuance of Common Stock
or the issuance or grants of options to purchase  Common  Stock  pursuant to the
Company's  stock  option  plans and employee  stock  purchase  plans as they now
exist,  (5) as a result of the exercise of options or warrants or  conversion of
convertible  notes or preferred stock which are granted or issued as of December
15, 2006

            (e) In case at any time:

                  (i) the Company shall pay any cash or stock  dividend upon its
Common Stock or make any distribution to the holders of its Common Stock; or

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

<PAGE>

                  (iii) the Company shall effect any capital  reorganization  or
any  reclassification  of or  change  in the  outstanding  capital  stock of the
Company (other than a stock split, a change in par value, or a change  resulting
solely from a subdivision or combination of outstanding shares of Common Stock),
or any  consolidation or merger,  or any sale,  transfer or other disposition of
all or  substantially  all its  property,  assets,  business and good will as an
entirety, or the liquidation, dissolution or winding up of the Company; or

                  (iv) the Company  shall  declare a dividend upon shares of its
Common  Stock  payable  otherwise  than out of  earnings  or earned  surplus  or
otherwise than in shares of Common Stock or any stock or obligations directly or
indirectly convertible into or exchangeable for Common Stock; or

                  (v) the Company  shall issue or sell any shares of  additional
shares of Common Stock at a price per share less than the Conversion  Price then
in effect or without consideration as set forth in Section 5(d) hereof;

            then,  in any such case,  the Company  shall cause at least  fifteen
(15) days' prior notice  thereof to be furnished to the Holder at the address of
such Holder  shown on the books of the  Company.  Such notice shall also specify
the date on which the books of the Company  shall  close,  or a record be taken,
for such stock dividend,  distribution or  subscription  rights,  or the date on
which  such  reclassification,   reorganization,  consolidation,  merger,  sale,
transfer, disposition, liquidation, dissolution, winding up, or dividend, as the
case may be,  shall take  place,  and the date of  participation  therein by the
holders  of Common  Stock if any such date is to be  fixed,  and shall  also set
forth such facts  with  respect  thereto  as shall be  reasonably  necessary  to
indicate the effect of such action on the rights of the Holder.

            (f) When any  adjustment  is required  to be made in the  Conversion
Price, the Company shall promptly mail to the Holder a certificate setting forth
the Conversion  Price after such  adjustment and setting forth a brief statement
of the facts requiring such adjustment.  Such  certificate  shall also set forth
the kind and amount of stock or other  securities  or  property  into which this
Note  shall  be  exercisable  following  the  occurrence  of any  of the  events
specified in subparagraphs (b), (c) or (d) above.

            (g) The Company  shall not be required  upon the  conversion of this
Note to issue any fractional shares,  but shall make any adjustment  therefor on
the basis of the mean  between the closing low bid and closing high asked prices
on the  over-the-counter  market as  reported  by the  National  Association  of
Securities Dealers Automated  Quotations System or the closing market price on a
national securities exchange on the trading day immediately prior to conversion,
whichever is applicable or, if neither is  applicable,  then on the basis of the
market value of any such fractional  interest as shall be reasonably  determined
by the Company.

            (h) The Company  will,  within 120 days after the end of each of its
fiscal years,  mail to the registered Holder at the address of such Holder shown
on  the  books  of the  Company  a  certificate  (if  the  Company  has  engaged
independent  public  accountants,  such  certificate  shall be  prepared by such
independent public accountants) (i) specifying the Conversion Price in effect as
of the end of such fiscal year and the number of shares of Common Stock,  or the
kind and amount of any  securities or property  other than Common Stock issuable
by the Holder and (ii) setting  forth in reasonable  detail the facts  requiring
any adjustments made during such fiscal year.

<PAGE>

6.  Default  Interest  Rate.  This Note will  bear  interest  from and after the
earlier of (i) the Maturity  Date or (ii) the  occurrence of an Event of Default
at the rate of interest  equal to eighteen  percent (18%) per annum,  compounded
annually, based on a 360 day calendar year (the "Default Interest Rate").

7.  Events of Default;  Acceleration.  The  following  events  shall  constitute
"Events of Default" hereunder:

(a) If the Company  shall fail to pay when due after a 10-day  grace  period the
principal of and/or  accrued  interest on this Note or any other amount  payable
under this Note;

(b) A material breach by the Company of any of its representations,  warranties,
covenants or  agreements  made in this Note that is not cured within thirty (30)
days  following  receipt by Company of written  notice  specifying in detail the
breach;

(c) If  proceedings  under any bankruptcy or insolvency law are commenced by the
Company,  or if proceedings under any bankruptcy or insolvency law are commenced
against the Company and such  proceedings  are not  dismissed  within 30 days of
commencement thereof, or if a general assignment for the benefit of creditors of
the  Company is made or if a trustee or receiver  of the  Company's  property is
appointed; or

(d) If the Company  shall adopt,  or agree to adopt,  a plan of  liquidation  or
dissolution of the Company.

Upon the occurrence of an Event of Default, then, or at any time thereafter, and
in each and every such case, unless such Event of Default shall have been waived
in writing by the Holder (which waiver shall not be deemed to be a waiver of any
subsequent  default)  at the  option  of the  Holder  and in the  Holder's  sole
discretion,  the Holder may,  upon written  notice to the  Company,  declare the
unpaid  principal  amount of this Note,  accrued  interest thereon and all other
amounts  payable  under  this  Note   immediately   due  and  payable,   without
presentment,  demand,  protest  or notice of any kind,  all of which are  hereby
expressly waived,  anything herein or in any note or other instruments contained
to the contrary  notwithstanding,  and the Holder may  immediately,  and without
expiration of any further  period of grace,  enforce any and all of the Holder's
rights and remedies  provided herein or any other rights or remedies afforded by
law;  provided,  however,  that in the case of an Event of Default  described in
Section  7(c)  above,  then the unpaid  principal  amount of this Note,  accrued
interest  thereon and other amounts payable under this Note shall be immediately
due and payable without any notice or other action by the Holder.

      8.  Representations  and Warranties.  Each of the Company and ITPLC hereby
represents, warrants and covenants to the following:

            (a) Existence.  Each of the Company and ITPLC is a corporation  duly
organized,  validly  existing  and  in  good  standing  under  the  laws  of the
jurisdiction of its incorporation and is duly licensed, qualified to do business
and  is  in  good  standing  in  all  other  states  in  which  such  licensing,
qualification and good standing are necessary. Each of the Company and ITPLC has
all requisite power and authority (X) to own and operate its properties,  (Y) to
carry on its business as now conducted and as proposed to be conducted,  and (Z)
to execute and deliver this Note;

<PAGE>

            (b) Binding Obligations. The execution, delivery, and performance of
this Note by each of the  Company  and ITPLC  have been duly  authorized  by all
necessary  action by each of the Company and ITPLC,  have been duly executed and
delivered  by each of the  Company  and ITPLC and  constitute  legal,  valid and
binding obligations of each of the Company and ITPLC,  enforceable in accordance
with their  respective  terms,  except as limited by  bankruptcy,  insolvency or
similar laws of general  application  relating to the  enforcement of creditors'
rights and except to the extent  specific  remedies may  generally be limited by
equitable principles; and

            (c) No Consent.  The  execution,  delivery and  performance  of this
Note, and the consummation of the transactions  contemplated hereby and thereby,
do not (i)  conflict  with,  result in a violation  of, or  constitute a default
under (A) any provision of either the Company's or ITPLC's  governing  documents
(e.g.,  articles  or  certificate  of  incorporation  or  bylaws),  (B) any law,
governmental  regulation,  court  decree or order  applicable  to the Company or
ITPLC, or (C) any other document or agreement to which the Company or ITPLC is a
party,  or (ii)  require the  consent,  approval or  authorization  of any third
party.

      9. Covenants of the Company and ITPLC.  Until payment and  satisfaction in
full of the Note,  each of the Company and ITPLC hereby  covenants and agrees as
follows:

            (a) Notify  Holder.  Each of the Company  and ITPLC  shall  promptly
inform the Holder if any one or more of the  representations and warranties made
by each of the Company and ITPLC in this Note or in any document  related hereto
shall no longer be entirely true, accurate and complete in any material respect.

            (b) Pay Taxes and  Liabilities.  Each of the Company and ITPLC shall
promptly pay, when due, all  indebtedness,  sums and liabilities of any kind now
or hereafter owing by either ITPLC or the Company,  as applicable,  to any party
however created,  incurred,  evidenced,  acquired, arising or payable, including
without  limitation this Note, income taxes,  excise taxes, sales and use taxes,
license fees,  and all other taxes with respect to any of either  ITPLC's or the
Company's  assets,  or any wages or  salaries  paid by ITPLC or the  Company  or
otherwise,  unless the  validity of which are being  contested  in good faith by
ITPLC or the  Company by  appropriate  proceedings,  provided  that ITPLC or the
Company, as applicable,  shall have maintained  reasonably adequate reserves and
accrued the estimated  liability their respective balance sheets for the payment
of same.

            (c) Maintain Existence and  Qualifications.  Each of the Company and
ITPLC shall  maintain and preserve in full force and effect,  its  existence and
rights,  franchises,  licenses  and  qualifications  necessary  to continue  its
business,  and comply in all material  respects  with all  applicable  statutes,
rules and  regulations  pertaining to the operation,  conduct and maintenance of
its existence and business including, without limitation, all federal, state and
local laws relating to benefit plans,  environmental  safety, or health matters,
and  hazardous or liquid waste or chemicals  or other  liquids  (including  use,
sale, transport and disposal thereof).

<PAGE>

            (d) Comply with Laws.  Each of the  Company  and ITPLC shall  comply
with the requirements of all applicable laws,  rules,  regulations and orders of
any governmental  authority,  compliance with which is necessary to maintain its
corporate  existence or the conduct of its business or non-compliance with which
would  adversely  affect in any  material  respect  its  ability to perform  its
obligations or any security given to secure its obligations.

            (e)  Condition  of Assets;  No Liens.  Each of the Company and ITPLC
shall maintain all of its assets in good condition and repair at all times,  and
preserve it against any loss,  damage,  or destruction of any nature  whatsoever
relating to said  assets or its use,  and keep said assets free and clear of any
liens or encumbrances.

            (f) Disposition of Assets.  Neither the Company nor ITPLC will sell,
lease, transfer, convey, or otherwise dispose of any or all of its assets, other
than in the ordinary course of business.

            (g) Other Liens. Neither the Company nor ITPLC will incur, create or
permit to exist any material lien or other encumbrance on any of its property or
assets,  whether now owned or  hereafter  acquired,  other than in the  ordinary
course of business.

            (h)  Other  Liabilities.  Other  than  in  the  ordinary  course  of
business,  neither the Company nor ITPLC will incur, create, assume or permit to
exist any  indebtedness  or liability on account of either  borrowed  money from
banks or other private financing sources, except (a) this Note; (b) indebtedness
existing on the date hereof;  or (c) indebtedness of either ITPLC or the Company
subordinated in right of payment to the payment in full of this Note pursuant to
the terms of a subordination  agreement reasonably  acceptable to Holder in form
and substance.  ITPLC, the Company and the Holder  acknowledge that trade credit
incurred  by  ITPLC in the  ordinary  course  of  business  does not  constitute
borrowed money.

            (i)  Guaranties.  Other than in the ordinary course of its business,
neither the Company nor ITPLC will assume, guaranty, endorse, contingently agree
to purchase or otherwise become liable upon the obligation of any person, except
by the endorsement of negotiable  instruments for deposit or collection or other
transactions in the ordinary course of business.

            (j)  Modification  of Documents.  Neither the Company nor ITPLC will
change,  alter  or  modify,  or  permit  any  material  change,   alteration  or
modification  of its  certificate of  incorporation,  by-laws or other governing
documents that would adversely  affect the Holder's rights pursuant to this Note
without the Holder's prior written consent.

            (k) Change  Business.  Neither the Company nor ITPLC will materially
change or alter the nature of its business in the telecommunications industry.

      10. The Holder's  Representations and Acknowledgements.  The Holder hereby
acknowledges and represents as follows:

<PAGE>

            (a) The Holder has had an  opportunity  to ask questions and receive
answers from the Company  regarding  the  business,  prospects,  properties  and
financial condition of the Company.

            (b) The Holder has such  knowledge  and  experience  in financial or
business  matters  that  it  is  capable  of  evaluating  the  Company's  credit
worthiness and  appreciating  the merits and risks of making this  investment in
the Company.

            (c) The Holder has  carefully  considered  and is familiar  with the
risks  inherent in making an  investment  in the Company  which is a development
stage private company with very limited  financial  resources,  and that without
closing the Financing,  the Company may not have  sufficient  funds to repay the
amounts due under this Note.

            (d) The Holder acknowledges that this Note is only being offered and
sold to persons or entities that qualify as an "accredited  investor" within the
meaning of the Securities and Exchange  Commission  Rule 501 of Regulation D, as
presently in effect. Further, the Holder hereby represents, and has delivered to
the Company a completed,  true and accurate Investor Suitability  Questionnaire,
executed and dated as of the date hereof and deemed a part hereof (the "Investor
Questionnaire") as evidence to the Company,  that it is an "accredited investor"
and that the Company and its agents are relying on the Holder's representations.

      11. Waivers. The Company waives demand, protest, notice of protest, notice
of default or dishonor, notice of payment and nonpayment, notice of any default,
nonpayment at maturity, release, compromise,  settlement,  extension, or renewal
of accounts, documents,  instruments,  chattel paper, and guarantees at any time
held by the Company on which the Company may in any way be liable.

      12.  Notices.  Unless  otherwise  provided  in this Note,  all  notices or
demands by any party  relating  to this Note  shall be in  writing  and shall be
personally  delivered or sent by registered or certified mail,  postage prepaid,
return receipt requested,  or by facsimile, or telegram (with messenger delivery
specified)  to the Holder or to the Company,  as the case may be, at its address
set forth below:

         If to the Company:    Green Mountain Capital, Inc.
                               201 South Biscayne Boulevard, 28th Floor
                               Miami, Florida 33131
                               Attn: Corporate Secretary

         If to ITPLC:          Internet Telecommunications Plc
                               46 Clerkenwell Close
                               London, EC1R 0AT
                               United Kingdom
                               Attn: Company Secretary

         If to the Holder:     The mailing address set forth in the Investor
                               Questionnaire.

      The  parties  hereto may  change the  address at which they are to receive
notices  hereunder,  by notice in writing in the  foregoing  manner given to the
other.

<PAGE>

      13. Choice of Law And Venue; Jury Trial Waiver.

            THE VALIDITY OF THIS NOTE,  ITS  CONSTRUCTION,  INTERPRETATION,  AND
ENFORCEMENT,  AND THE RIGHTS OF THE PARTIES  HERETO WITH  RESPECT TO ALL MATTERS
ARISING HEREUNDER OR RELATED HERETO SHALL BE DETERMINED UNDER,  GOVERNED BY, AND
CONSTRUED IN  ACCORDANCE  WITH THE LAWS OF THE STATE OF NEVADA,  WITHOUT  GIVING
EFFECT TO ITS CONFLICT OF LAWS PRINCIPLES. THE PARTIES AGREE THAT ALL ACTIONS OR
PROCEEDINGS  ARISING IN  CONNECTION  WITH THIS NOTE SHALL BE TRIED AND LITIGATED
ONLY IN THE STATE AND FEDERAL COURTS LOCATED IN THE COUNTY OF BROWARD,  STATE OF
NEVADA OR, AT THE SOLE  OPTION OF THE  COMPANY,  IN ANY OTHER COURT IN WHICH THE
COMPANY  SHALL  INITIATE  LEGAL OR EQUITABLE  PROCEEDINGS  AND WHICH HAS SUBJECT
MATTER JURISDICTION OVER THE MATTER IN CONTROVERSY.  EACH OF THE COMPANY AND THE
HOLDER WAIVES,  TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, ANY RIGHT EACH MAY
HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE
EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION 13. THE COMPANY
AND THE HOLDER HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM
OR  CAUSE  OF  ACTION  BASED  UPON  OR  ARISING  OUT OF THE  NOTE  OR ANY OF THE
TRANSACTIONS  CONTEMPLATED  THEREIN,  INCLUDING  CONTRACT  CLAIMS,  TORT CLAIMS,
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. THE COMPANY
AND THE HOLDER  REPRESENT  THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY
AND VOLUNTARILY  WAIVES ITS JURY TRIAL RIGHTS FOLLOWING  CONSULTATION WITH LEGAL
COUNSEL.  IN THE  EVENT  OF  LITIGATION,  A COPY OF THIS  NOTE MAY BE FILED AS A
WRITTEN CONSENT TO A TRIAL BY THE COURT.

      14. Miscellaneous.

            (a)  Replacement of Note. If the Holder loses this Note, the Company
shall  issue an  identical  replacement  note to the  Holder  upon the  Holder's
delivery  to the  Company of a  customary  agreement  to  indemnify  the Company
reasonably satisfactory to the Company for any losses resulting from issuance of
the replacement note.

            (b)  Severability.  In the event  any one or more of the  provisions
contained in this Note shall, for any reason, be held to be invalid, illegal, or
unenforceable in any respect, such invalidity,  illegality,  or unenforceability
shall not  affect  any  other  provision  of this  Note and this  Note  shall be
construed as if such invalid, illegal, or unenforceable provision had never been
contained herein.

            (e) No Oral  Modifications or Waivers.  This Note may not be changed
orally,  but only by an agreement in writing signed by the parties  against whom
enforcement of any waiver, change, modification or discharge is sought.

            (g)  Assignment.  The Holder shall not assign or transfer his rights
under this Note without the prior written consent of the Company.

            (h)  Headings.  The  headings  in this Note are for  convenience  of
reference only and shall not define or limit any terms or provisions hereof.

            (i)   Integration.   This   Note,   together   with   the   Investor
Questionnaire,  reflect the entire  understanding of the parties with respect to
the transactions  contemplated hereby and shall not be contradicted or qualified
by any other agreement,  oral or written,  before the date hereof.[THE NEXT PAGE
IS THE SIGNATURE PAGE]

<PAGE>

      IN WITNESS  WHEREOF,  the Company and the Holder have duly  executed  this
Note as of the day and year first above written.

                                        COMPANY:

                                        GREEN MOUNTAIN CAPITAL, INC.

                                        By:   __________________________________
                                        Name:
                                        Title:

                                        ITPLC:

                                        INTERNET TELECOMMUNICATION PLC

                                        By:   __________________________________
                                        Name:
                                        Title:

                                        HOLDER:

                                        By:   __________________________________
                                        Name:
                                        Title:EXHIBIT 10.15

NEITHER THIS WARRANT NOR THE WARRANT SHARES  ISSUABLE UPON EXERCISE  HEREOF HAVE
BEEN  REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE  "SECURITIES
ACT") OR ANY OTHER APPLICABLE SECURITIES LAWS IN RELIANCE UPON AN EXEMPTION FROM
THE  REGISTRATION  REQUIREMENTS OF THE SECURITIES ACT AND SUCH OTHER  SECURITIES
LAWS.  NEITHER  THIS  WARRANT  NOR THE SHARES OF  WARRANT  STOCK  ISSUABLE  UPON
EXERCISE  HEREOF MAY BE SOLD,  PLEDGED,  TRANSFERRED,  ENCUMBERED  OR  OTHERWISE
DISPOSED OF EXCEPT  PURSUANT TO AN EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE
SECURITIES ACT OR IN A TRANSACTION WHICH IS EXEMPT FROM  REGISTRATION  UNDER THE
PROVISIONS OF THE SECURITIES ACT.

                          GREEN MOUNTAIN CAPITAL, INC.
                          Common Stock Purchase Warrant
       (Expiring on the fifth anniversary of the date of issuance hereof)

This is to certify that, for value received and subject to the conditions herein
set  forth,   ______________________________________  (the  "Warrantholder")  is
entitled to purchase,  at a price per share of Eighteen Cents ($0.18) per share,
_____________________  (____________)  shares of common stock, par value $0.0001
per share (the  "Common  Stock"),  of Green  Mountain  Capital,  Inc.,  a Nevada
corporation  (the  "Company"),  subject to  adjustment  as provided  below (such
shares  purchasable upon exercise of this Warrant are herein called the "Warrant
Stock").  The amount per share  specified  above,  as adjusted from time to time
pursuant to the provisions hereinafter set forth, is herein called the "Purchase
Price."  This  Warrant  will be  immediately  exercisable  and may be  exercised
anytime  after its  issuance.  In the event of a exercise of this  Warrant,  the
Warrantholder  shall  surrender  this Warrant to the Company with payment of the
Purchase  Price,  together with a notice of exercise (the date of such surrender
being herein referred to as the "Date of Exercise"),  in which event the Company
shall issue to the Warrantholder the number of shares of Warrant Stock.

1. By acceptance of this Warrant,  the Warrantholder  agrees, for itself and all
subsequent holders,  that prior to making any disposition of this Warrant or any
shares of Warrant  Stock,  the  Warrantholder  shall give written  notice to the
Company describing briefly the manner in which any such proposed  disposition is
to be made;  and no such  disposition  shall be made  unless  and  until (i) the
Company has received an opinion of counsel satisfactory to it to the effect that
no  registration  under the Securities  Act of 1933, as amended (the "Act"),  is
required with respect to such disposition; or (ii) a registration statement with
respect to the  Warrant or the  Warrant  Stock has been filed by the Company and
declared effective by the Securities and Exchange Commission (the "Commission").

2. (a) If outstanding  shares of the Company's  Common Stock shall be subdivided
into a greater  number of shares  thereof or a dividend in Common Stock shall be
paid in respect of Common Stock, the Purchase Price in effect  immediately prior
to such subdivision or at the record date of such dividend shall  simultaneously
with the  effectiveness of such subdivision or immediately after the record date
of such  dividend be  proportionately  reduced and  conversely,  if  outstanding
shares  of  Common  Stock  shall be  combined  into a  smaller  number of shares
thereof,  the Purchase  Price in effect  immediately  prior to such  combination
shall,   simultaneously   with  the  effectiveness  of  such   combination,   be
proportionately  increased.  When any  adjustment  is required to be made in the
Purchase  Price,  the  number of shares of  Common  Stock  purchasable  upon the
exercise of this Warrant  shall be changed to the number  determined by dividing
(i) an amount equal to the number of shares issuable pursuant to the exercise of
this Warrant  immediately  prior to such  adjustment  multiplied by the Purchase
Price in effect immediately prior to such adjustment, by (ii) the Purchase Price
in effect immediately after such adjustment.

<PAGE>

      (b) If there shall occur any capital reorganization or reclassification of
the Company's Common Stock (other than a change in par value or a subdivision or
combination as provided for in subparagraph (a) above),  or any consolidation or
merger of the Company  with or into another  corporation,  or in the case of any
sale,  transfer or other  disposition  to another  person,  corporation or other
entity of all or substantially all the property,  assets, business and good will
of the  Company  as an  entirety,  then,  as  part of any  such  reorganization,
reclassification, consolidation, merger, sale, transfer or other disposition, as
the case may be, lawful  provision shall be made so that the registered owner of
this Warrant shall have the right thereafter to receive upon the exercise hereof
the kind and amount of shares of stock or other  securities  or  property  which
said registered owner would have been entitled to receive if,  immediately prior
to any  such  reorganization,  reclassification,  consolidation,  merger,  sale,
transfer or other  disposition,  as the case may be, said  registered  owner had
held the number of shares of Common Stock which were then  purchasable  upon the
exercise  of  this  Warrant.  In  any  such  case,  appropriate  adjustment  (as
determined  by the  Board  of  Directors  of the  Company)  shall be made in the
application  of the  provisions  set forth herein with respect to the rights and
interests  thereafter  of the  registered  owner of this  Warrant  such that the
provisions set forth herein (including  provisions with respect to adjustment of
the Purchase Price) shall  thereafter be applicable,  as nearly as is reasonably
practicable,  in relation to any shares of stock or other securities or property
thereafter deliverable upon the exercise of this Warrant.

      (c) In case the  Company  shall  declare a dividend  upon shares of Common
Stock  payable  otherwise  than out of earnings or earned  surplus and otherwise
than in shares of Common Stock or in stock or obligations directly or indirectly
convertible into or exchangeable for Common Stock, the Warrantholder shall, upon
exercise  of this  Warrant in whole or in part,  be  entitled  to  purchase,  in
addition to the number of shares of Common Stock  deliverable upon such exercise
against   payment  of  the  Purchase  Price   therefor,   but  without   further
consideration,  the cash, stock or other securities or property which the holder
of Warrant would have received as dividends (otherwise than out of such earnings
or earned  surplus  and  otherwise  than in  shares  of Common  Stock or in such
convertible or exchangeable  stock or  obligations),  if continuously  since the
date set forth above such holder (i) had been the holder of record of the number
of shares of Common Stock  deliverable  upon such exercise and (ii) had retained
all dividends in stock or other securities (other than shares of Common Stock or
such  convertible  or  exchangeable  stock or  obligations)  paid or  payable in
respect of said number of shares of Common Stock or in respect of any such stock
or other  securities so paid or payable as such dividends.  For purposes of this
subparagraph  (c), a dividend payable otherwise than in cash shall be considered
to be  payable  out of  earnings  or earned  surplus  and shall be charged in an
amount equal to the fair value of such  dividend as  determined  by the Board of
Directors of the Company.

      (d) In case at any time:

            (i) the Company shall pay any cash or stock dividend upon its Common
Stock or make any distribution to the holders of its Common Stock; or

<PAGE>

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

            (iii) the Company  shall  effect any capital  reorganization  or any
reclassification  of or change in the  outstanding  capital stock of the Company
(other than a stock split, a change in par value, or a change  resulting  solely
from a subdivision or combination of outstanding shares of Common Stock), or any
consolidation or merger,  or any sale,  transfer or other  disposition of all or
substantially all its property,  assets,  business and good will as an entirety,
or the liquidation, dissolution or winding up of the Company; or

            (iv) the Company  shall declare a dividend upon shares of its Common
Stock payable otherwise than out of earnings or earned surplus or otherwise than
in shares of Common  Stock or any stock or  obligations  directly or  indirectly
convertible into or exchangeable for Common Stock; or

            (v) the Company shall issue or sell any shares of additional  shares
of Common Stock at a price per share less than the Purchase Price then in effect
or without consideration as set forth in Section 3 hereof;

then,  in any such case,  the Company  shall cause at least  fifteen  (15) days'
prior notice thereof to be furnished to the Warrantholder at the address of such
holder  shown on the books of the  Company.  Such notice  shall also specify the
date on which the books of the Company  shall close,  or a record be taken,  for
such stock dividend,  distribution or subscription  rights, or the date on which
such reclassification,  reorganization,  consolidation,  merger, sale, transfer,
disposition,  liquidation, dissolution, winding up, or dividend, as the case may
be, shall take place,  and the date of  participation  therein by the holders of
Common  Stock if any such date is to be fixed,  and  shall  also set forth  such
facts with  respect  thereto as shall be  reasonably  necessary  to indicate the
effect of such action on the rights of the Warrantholder.

      (e) When any adjustment is required to be made in the Purchase Price,  the
Company shall promptly mail to the Warrantholder a certificate setting forth the
Purchase Price after such  adjustment and setting forth a brief statement of the
facts requiring such adjustment.  Such certificate shall also set forth the kind
and amount of stock or other  securities  or  property  into which this  Warrant
shall be exercisable  following the occurrence of any of the events specified in
subparagraphs  (b) or (c) above or any of the events  specified  in Section 3(a)
hereof.

      (f) The Company shall not be required upon the exercise of this Warrant to
issue any fractional shares, but shall make any adjustment therefor on the basis
of the mean  between the closing  low bid and closing  high asked  prices on the
over-the-counter  market as reported by the National  Association  of Securities
Dealers  Automated  Quotations  System or the closing market price on a national
securities exchange on the trading day immediately prior to exercise,  whichever
is  applicable  or, if  neither is  applicable,  then on the basis of the market
value of any such fractional  interest as shall be reasonably  determined by the
Company.

      (g) The Company will,  within 120 days after the end of each of its fiscal
years,  mail to the  registered  holder of this  Warrant at the  address of such
holder  shown on the books of the  Company a  certificate  (if the  Company  has
engaged  independent public  accountants,  such certificate shall be prepared by
such independent public accountants) (i) specifying the Purchase Price in effect
as of the end of such fiscal year and the number of shares of Common  Stock,  or
the kind and  amount of any  securities  or  property  other than  Common  Stock
purchasable  by the holder of this Warrant and (ii) setting  forth in reasonable
detail the facts requiring any adjustments made during such fiscal year.

<PAGE>

3. The  Purchase  Price  shall be  subject  to  adjustment  from time to time as
follows:

      (a) Adjustments for Issuance of Additional  Shares of Common Stock. In the
event the  Company,  shall,  at any time,  from time to time,  issue or sell any
shares of  additional  shares of Common  Stock  (otherwise  than as  provided in
Section 2 or pursuant to Common Stock Equivalents (hereafter defined) granted or
issued prior to the Issuance Date) ("Additional  Shares of Common Stock"),  at a
price  per  share  less  than the  Purchase  Price  then in  effect  or  without
consideration,  then the Purchase Price upon each such issuance shall be reduced
to a price equal to the  consideration per share paid for such Additional Shares
of Common Stock.

      (b) Issuance of Common  Stock  Equivalents.  If the  Company,  at any time
after the issue date of this  Warrant,  shall issue any  securities  convertible
into or exchangeable  for,  directly or indirectly,  Common Stock  ("Convertible
Securities"),  or any rights or warrants or options to purchase  any such Common
Stock or  Convertible  Securities,  shall be issued or sold  (collectively,  the
"Common Stock  Equivalents")  and the aggregate of the price per share for which
Additional  Shares of Common Stock may be issuable  thereafter  pursuant to such
Common  Stock  Equivalent,  plus the  consideration  received by the Company for
issuance  of such  Common  Stock  Equivalent  divided by the number of shares of
Common Stock issuable  pursuant to such Common Stock  Equivalent (the "Aggregate
Per Common Share Price") shall be less than the  applicable  Purchase Price then
in effect, or if, after any such issuance of Common Stock Equivalents, the price
per share for which Additional Shares of Common Stock may be issuable thereafter
is amended or adjusted,  and such price as so amended  shall make the  Aggregate
Per Common Share Price be less than the  applicable  Purchase Price in effect at
the time of such  amendment or adjustment,  then the  applicable  Purchase Price
upon each such issuance or amendment  shall be adjusted as provided in the first
sentence of  subsection  (a) of this Section 3 on the basis that (1) the maximum
number of Additional Shares of Common Stock issuable pursuant to all such Common
Stock  Equivalents  shall be  deemed to have been  issued  (whether  or not such
Common  Stock  Equivalents  are  actually  then   exercisable,   convertible  or
exchangeable in whole or in part) as of the earlier of (A) the date on which the
Company  shall enter into a firm  contract for the issuance of such Common Stock
Equivalent,  or (B) the date of actual issuance of such Common Stock Equivalent.
No  adjustment  of the  applicable  Purchase  Price  shall  be made  under  this
subsection  (b) upon the issuance of any  Convertible  Security  which is issued
pursuant to the  exercise  of any  warrants  or other  subscription  or purchase
rights  therefor,  if any  adjustment  shall  previously  have  been made to the
exercise  price  of such  warrants  then in  effect  upon the  issuance  of such
warrants or other rights pursuant to this subsection (b). No adjustment shall be
made to the Purchase  Price upon the  issuance of Common  Stock  pursuant to the
exercise,  conversion  or exchange of any  Convertible  Security or Common Stock
Equivalent where an adjustment to the Purchase Price was made as a result of the
issuance or purchase of any Convertible Security or Common Stock Equivalent.

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

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

<PAGE>

            (ii) in the event of any  consolidation  or merger of the Company in
which the Company is not the surviving  corporation  or in which the  previously
outstanding  shares of Common  Stock of the  Company  shall be  changed  into or
exchanged for the stock or other  securities of another  corporation,  or in the
event of any sale of all or  substantially  all of the assets of the Company for
stock or other  securities  of any  corporation,  the Company shall be deemed to
have issued a number of shares of its Common  Stock for stock or  securities  or
other  property  of the other  corporation  computed  on the basis of the actual
exchange ratio on which the transaction was predicated,  and for a consideration
equal to the fair market value on the date of such transaction of all such stock
or  securities  or  other  property  of  the  other  corporation.  If  any  such
calculation  results in  adjustment of the  applicable  Purchase  Price,  or the
number of shares of Common Stock issuable upon  conversion of this Warrant,  the
determination of the applicable Purchase Price or the number of shares of Common
Stock issuable upon conversion of this Warrant immediately prior to such merger,
consolidation  or sale,  shall be made after giving effect to such adjustment of
the number of shares of Common Stock  issuable upon  conversion of this Warrant.
In the event  Common Stock is issued with other  shares or  securities  or other
assets of the Company for  consideration  which covers both,  the  consideration
computed  as  provided  in this  Section  3(c)  shall be  allocated  among  such
securities  and assets as  determined in good faith by the Board of Directors of
the Company.

      (d)  Superseding  Adjustment.  If, at any time after any adjustment of the
Purchase  Price then in effect shall have been made  pursuant to Section 3(a) as
the result of any  issuance  of Common  Stock  Equivalents,  and (x) such Common
Stock  Equivalents,  or the right of conversion or exchange in such Common Stock
Equivalents,  shall  expire,  and  all or a  portion  of such  or the  right  of
conversion  or exchange  with  respect to all or a portion of such Common  Stock
Equivalents,  as the case may be,  shall  not have  been  exercised,  or (y) the
consideration  per share for which shares of Common Stock are issuable  pursuant
to such  Common  Stock  Equivalents  shall  be  increased,  then  such  previous
adjustment  shall be rescinded and annulled and the Additional  Shares of Common
Stock which were deemed to have been issued by virtue of the computation made in
connection  with the  adjustment  so rescinded  and annulled  shall no longer be
deemed to have been issued by virtue of such computation. Upon the occurrence of
an event set forth in this  Section 3(d) above,  there shall be a  recomputation
made of the  effect of such  Common  Stock  Equivalents  on the  basis  of:  (i)
treating the number of Additional  Shares of Common Stock  theretofore  actually
issued or issuable pursuant to the previous exercise of Common Stock Equivalents
or any such right of conversion  or exchange,  as having been issued on the date
or dates of any such exercise and for the  consideration  actually  received and
receivable  therefor,  and (ii) treating any such Common Stock Equivalents which
then remain  outstanding as having been granted or issued  immediately after the
time of such increase of the consideration per share for which Additional Shares
of Common Stock are issuable  under such Common Stock  Equivalents;  whereupon a
new  adjustment  of the Purchase  Price then in effect shall be made,  which new
adjustment shall supersede the previous adjustment so rescinded and annulled.

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

<PAGE>

      (f) Certain Issues Excepted.  For purposes of this Warrant,  a "Subsequent
Financing" shall be defined as any subsequent offer or sale to, or exchange with
(or other  type of  distribution  to),  any third  party of Common  Stock or any
securities convertible, exercisable or exchangeable into Common Stock, including
debt  securities so convertible,  in a private  transaction  (collectively,  the
"Financing Securities") other than a Permitted Financing. Anything herein to the
contrary  notwithstanding,  the  Company  shall  not be  required  to  make  any
adjustment  to the Purchase  Price in the case of any Permitted  Financing.  For
purposes  of this  Warrant,  "Permitted  Financing"  shall mean any  transaction
involving (1) the Company's issuance of any Financing Securities (other than for
cash) in connection with a merger,  acquisition or consolidation of the Company,
(2) the Company's issuance of Financing  Securities in connection with strategic
license  agreements and other partnering  arrangements so long as such issuances
are not for the  purpose of  raising  capital,  (3) the  Company's  issuance  of
Financing  Securities  in  connection  with bona fide firm  underwritten  public
offerings of its securities,  (4) the Company's  issuance of Common Stock or the
issuance or grants of options to purchase Common Stock pursuant to the Company's
stock option plans and employee stock purchase plans as they now exist, (5) as a
result of the exercise of options or warrants or conversion of convertible notes
or preferred stock which are granted or issued as of December 15, 2006.

4. The  Company  agrees  that (i) a number of  shares of Common  Stock and other
securities  and property  sufficient to provide for the exercise of this Warrant
upon the basis  hereinbefore  set forth  shall at all times  during  the term of
Warrant be reserved  for the exercise  hereof,  and (ii) during the term of this
Warrant,  it will keep current in filing any forms and other materials  required
to be filed with the Commission  pursuant to the Act and the Securities Exchange
Act of 1934, as amended.

5. (a) Exercise of the purchase  rights  represented by this Warrant may be made
at any time or times on or after the  closing  of the  offering,  and before the
close of business on the  Termination  Date by the surrender of this Warrant and
the Notice of Exercise Form or Notice of Cashless  Exercise Form annexed  hereto
duly  executed,  at the office of the Company (or such other office or agency of
the  Company  as it may  designate  by  notice  in  writing  to  the  registered
Warrantholder hereof at the address of such Warrantholder appearing on the books
of the Company) and upon payment of the Exercise  Price of the Warrant  Stock as
provided herein the Warrantholder shall be entitled to receive a certificate for
the number of Warrant Stock so purchased. Certificates for the shares of Warrant
Stock purchased hereunder shall be delivered to the Warrantholder  hereof within
twenty (20) trading  days after the date on which this  Warrant  shall have been
exercised as aforesaid.  This Warrant shall be deemed to have been exercised and
such  certificate or certificates  shall be deemed to have been issued,  and the
Warrantholder  or any other person so  designated  to be named  therein shall be
deemed to have become a Warrantholder  of record of such shares of Warrant Stock
for all  purposes,  as of the date the Warrant has been  exercised by payment to
the  Company  of the  Exercise  Price and all taxes  required  to be paid by the
Warrantholder,  if any,  pursuant  to  Section 6 prior to the  issuance  of such
shares of Warrant Stock, have been paid.

      (b)  Payment may be made  either (i) in cash or by  certified  or official
bank check payable to the order of the Company equal to the applicable aggregate
Exercise  Price,  (ii) by delivery  of the  Warrant,  or shares of Common  Stock
and/or  shares of Warrant  Stock  receivable  upon  exercise  of the  Warrant in
accordance  with Section  5(c) below,  or (iii) by a  combination  of any of the
foregoing  methods,  for the number of shares of Warrant Stock specified in such
Exercise  Notice (as such  exercise  number  shall be  adjusted  to reflect  any
adjustment  in  the  total  number  of  shares  Warrant  Stock  issuable  to the
Warrantholder  per the  terms  of this  Warrant)  and  the  Warrantholder  shall
thereupon be entitled to receive the number of duly authorized,  validly issued,
fully-paid  and  non-assessable  shares of Common Stock  determined  as provided
herein.

<PAGE>

         (c) Notwithstanding any provisions herein to the contrary, if the Fair
Market Value of one share of Common Stock is greater than the Exercise Price (at
the date of calculation as set forth below), in lieu of exercising this Warrant
for cash, the Warrantholder may elect to receive shares equal to the value (as
determined below) of this Warrant (or the portion thereof being exercised) by
surrender of this Warrant at the principal office of the Company together with
the properly endorsed Notice of Cashless Exercise Form in which event the
Company shall issue to the Warrantholder a number of shares of Warrant Stock
computed using the following formula:

                                  X=Y    (A-B)
                                         -----
                                          (A)

      Where:

      X =   the  number  of  shares  of  Warrant  Stock  to  be  issued  to  the
            Warrantholder on such exercise

      Y =   the number of shares of Warrant Stock  purchasable under the Warrant
            or, if only a portion of the Warrant is being exercised, the portion
            of the Warrant being exercised (at the date of such calculation)

      A =   the Fair Market Value of one share of the Company's Common Stock (at
            the date of such calculation)

      B =   Exercise Price (as adjusted to the date of such calculation)

      (d) "Fair Market  Value"  shall mean the average 4:00 PM Eastern  Standard
Time  closing bid price of the  Company's  Common  Stock as quoted on the Nasdaq
OTC:BB,  Pink Sheets or other  national  market or exchange as  reflected on the
Bloomberg  quotation  system  ("Closing  Bid") on the  three  (3)  trading  days
immediately  following  the date of receipt of the Notice of  Cashless  Exercise
Form.

      (e) Notwithstanding  anything herein to the contrary, each certificate for
Warrant Stock issued  hereunder  shall bear a legend  reading  substantially  as
follows  (unless the Company  receives an opinion of counsel  satisfactory to it
that such a legend is not required in order to assure compliance with the Act).

<PAGE>

      THE SHARES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
      OF ANY STATE. THESE SHARES MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR
      HYPOTHECATED  UNLESS  THERE IS AN EFFECTIVE  REGISTRATION  STATEMENT
      UNDER SUCH ACT  COVERING  SUCH  SHARES OR THE  COMPANY  RECEIVES  AN
      OPINION  OF  COUNSEL  FOR THE  HOLDER  OF  THESE  SHARES  REASONABLY
      SATISFACTORY  TO THE  COMPANY,  STATING  THAT SUCH  SALE,  TRANSFER,
      ASSIGNMENT  OR  HYPOTHECATION  IS EXEMPT FROM THE  REGISTRATION  AND
      PROSPECTUS  DELIVERY  REQUIREMENTS OF SUCH ACT AND FROM REGISTRATION
      OR QUALIFICATION REQUIREMENTS OF APPLICABLE STATE SECURITIES LAWS.

6. All shares of Common Stock or other securities delivered upon the exercise of
this  Warrant  shall be validly  issued,  fully paid and  nonassessable  and the
Company  will pay all taxes,  if any, in respect of the  issuance  thereof  upon
exercise of this Warrant.

7. (a) Subject to the  provisions  of  Paragraph 1 hereof,  this Warrant and all
rights hereunder are transferable on the books of the Company, upon surrender of
this Warrant,  with the form of assignment  attached hereto duly executed by the
registered  holder hereof or by his attorney duly authorized in writing,  to the
Company at its principal  office  hereinabove  referred to, and thereupon  there
shall be issued in the name of the  transferee or  transferees,  in exchange for
this Warrant, a new warrant or warrants or like tenor and date,  representing in
the aggregate the right to subscribe for and purchase the number of shares which
may be subscribed for and purchased hereunder.

      (b) If this Warrant shall be lost,  stolen,  mutilated or  destroyed,  the
Company,  on such terms as to indemnify or otherwise as it may in its discretion
reasonably  impose,  shall issue a new warrant of like  denomination,  tenor and
date as this  Warrant so lost,  stolen,  mutilated  or  destroyed.  Any such new
warrant  shall  constitute  an original  contractual  obligation of the Company,
whether or not the allegedly lost, stolen,  mutilated or destroyed warrant shall
be at any time enforceable by anyone.

      (c) The Company may deem and treat the  registered  holder of this Warrant
as the absolute owner of this Warrant for all purposes and shall not be affected
by any notice to the contrary.

      (d) This Warrant,  including all the rights and obligations granted to the
Warrantholder  hereunder,  shall be specifically enforceable against the Company
by the  Warrantholder,  in addition to and not by way of  substitution  for, any
other remedies available to the Warrantholder, at law or in equity.

      (e) This  Warrant,  in all  events,  shall be wholly void and of no effect
after the fifth anniversary of the date of issuance of this Warrant.

8. The  Warrantholder  shall not, by virtue of  ownership  of this  Warrant,  be
entitled to any rights  whatsoever of a shareholder  of the Company,  but shall,
upon written request to the Company,  be entitled to receive quarterly or annual
reports, or any other reports to shareholders of the Company.

                      [THE NEXT PAGE IS THE SIGNATURE PAGE]

<PAGE>

IN WITNESS  WHEREOF,  the Company  has caused this  Warrant to be executed as of
__________, 2007, by its duly authorized officer.

                                        GREEN MOUNTAIN CAPITAL, INC.

                                        By:______________________________
                                           Chief Executive Officer

<PAGE>

                               NOTICE OF EXERCISE

To:   Green Mountain Capital, Inc.

      (i) The  undersigned  hereby elects to purchase  ________ shares of Common
Stock (the "Warrant  Stock"),  of Green Mountain  Capital,  Inc. pursuant to the
terms of the  attached  Warrant,  and tenders  herewith  payment of the exercise
price in full, together with all applicable transfer taxes, if any.

            (ii) Please issue a certificate or  certificates  representing  said
shares of Warrant Stock in the name of the  undersigned or in such other name as
is specified below:

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

                  --------------------------------------------------------------
                  (Address)

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

                  --------------------------------------------------------------
                  Social Security or Tax Identification Number

Dated: _________________________

                                        ----------------------------------------
                                        Signature

                                        ----------------------------------------
                                        Print Name

                           NOTICE OF CASHLESS EXERCISE

To:   Green Mountain Capital, Inc.

            (1) The  undersigned  hereby elects to purchase the number of shares
of Common Stock (the "Warrant Stock"),  of Green Mountain  Capital,  Inc. as are
purchasable  pursuant  to the terms the  formula  set forth in  Section 5 of the
attached Warrant,  and makes payment therefore in full by surrender and delivery
of this Warrant.

<PAGE>

            (iii) (2) Please issue a certificate  or  certificates  representing
said  shares of Warrant  Stock in the name of the  undersigned  or in such other
name as is specified below:

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

                  --------------------------------------------------------------
                  (Address)

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

                  --------------------------------------------------------------
                  Social Security or Tax Identification Number

Dated: _________________________

                                        ----------------------------------------
                                        Signature

                                        ----------------------------------------
                                        Print Name

<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

      FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby
are  hereby  assigned  to  ______________________________________________  whose
address is
________________________________________________________________________________

________________________________________________________________________________

Dated: ________________________

            Holder's Signature: ________________________________________________

            Holder's Address:   ________________________________________________

                                ________________________________________________

Signature Guaranteed:

NOTE: The signature to this  Assignment Form must correspond with the name as it
appears on the face of the Warrant,  without  alteration or  enlargement  or any
change whatsoever,  and must be guaranteed by a bank or trust company.  Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

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