Document:

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

     

    SERIES
      A
      WARRANT TO PURCHASE

     

    SHARES
      OF
      COMMON STOCK

     

    OF

     

    AAMAXAN
      TRANSPORT GROUP, INC.

     

    Expires
      October 13, 2013

     

    
      	
              No.:
                W-A-08- __ 

            	
              Number
                of Shares: Up to ___________

            
	
              Date
                of Issuance: April 14, 2008

            	
            

    

     

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

     

    1. Term.
      The
      term of this Warrant shall commence on April 14, 2008 and shall expire at 6:00
      p.m., Eastern Time, on October 13, 2013 (such period being the “Term”
and
      such date, the “Termination
      Date”).

     

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

     

    (a) Time
      of Exercise.
      The
      purchase rights represented by this Warrant may be exercised in whole or in
      part
      during the Term for such number of shares of Common Stock set forth above,
      which
      number is equal to fifty percent (50%) of the number of shares of Common Stock
      into which the Series A Convertible Preferred Stock issued by the Issuer to
      the
      Holder on the Original Issue Date pursuant to the Purchase Agreement may be
      converted.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

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

     

    (c) Cashless
      Exercise.
      Notwithstanding any provision herein to the contrary and commencing 180 days
      following the Original Issue Date if a registration statement under the
      Securities Act providing for the resale of the Warrant Stock (A) has not been
      declared effective by the Securities and Exchange Commission by the date such
      registration statement is required to be effective pursuant to the Registration
      Rights Agreement (as defined in Section 8) as to any portion of the Warrant
      Stock issuable hereunder (“Non-Registered Warrant Stock”), or (B) is not
      effective at the time of exercise of this Warrant such that there is
      Non-Registered Warrant Stock, unless the registration statement is not effective
      as a result of the Issuer exercising its rights under Section 3(n) of the
      Registration Rights Agreement, in lieu of exercising this Warrant by payment
      of
      cash, the Holder may exercise this Warrant by a cashless exercise for the
      Non-Registered Warrant Stock and shall receive the number of shares of Common
      Stock equal to an amount (as determined below) by surrender of this Warrant
      at
      the principal office of the Issuer together with the properly endorsed Notice
      of
      Exercise in which event the Issuer shall issue to the Holder a number of shares
      of Common Stock computed using the following formula:

     

    
      	 	X
              =
              Y - 	(A)(Y) 
	 	 	
                 
                B 

            
	 	 	 
	
              Where
                

            	
              X
                =
                

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

            
	 	 	 
	 	
              Y
                =
                

            	
              the
                number of shares of Non-Registered Warrant Stock purchasable upon
                exercise
                of all or part of the Warrant.

            
	 	 	 
	 	
              A
                =
                

            	
              the
                Warrant Price.

            
	 	 	 
	 	
              B
                =
                

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

            

    

     

    (d) Issuance
      of Stock Certificates.
      In the
      event of any exercise of this Warrant in accordance with and subject to the
      terms and conditions hereof, certificates for the shares of Warrant Stock so
      purchased shall be dated the date of such exercise and delivered to the Holder
      hereof within a reasonable time, not exceeding three (3) Trading Days after
      such
      exercise (the “Delivery
      Date”)
      or, at
      the request of the Holder (provided that a registration statement under the
      Securities Act providing for the resale of the Warrant Stock is then in effect
      or that the shares of Warrant Stock are otherwise exempt from registration),
      issued and delivered to the Depository Trust Company (“DTC”)
      account on the Holder’s behalf via the Deposit Withdrawal Agent Commission
      System (“DWAC”)
      within
      a reasonable time, not exceeding three (3) Trading Days after such exercise,
      and
      the Holder hereof shall be deemed for all purposes to be the holder of the
      shares of Warrant Stock so purchased as of the date of such exercise.
      Notwithstanding the foregoing to the contrary, the Issuer or its transfer agent
      shall only be obligated to issue and deliver the shares to the DTC on a holder’s
      behalf via DWAC if such exercise is in connection with a sale or other exemption
      from registration by which the shares may be issued without a restrictive legend
      and the Issuer and its transfer agent are participating in DTC through the
      DWAC
      system. The Holder shall deliver this original Warrant, or an indemnification
      undertaking with respect to such Warrant in the case of its loss, theft or
      destruction, at such time that this Warrant is fully exercised. With respect
      to
      partial exercises of this Warrant, the Issuer shall keep written records for
      the
      Holder of the number of shares of Warrant Stock exercised as of each date of
      exercise.

    
      
         

      

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

     

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

    
      
         

      

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

     

    (h) Compliance
      with Securities Laws.

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

    (a) Stock
      Fully Paid.
      The
      Issuer represents, warrants, covenants and agrees that all shares of Warrant
      Stock which may be issued upon the exercise of this Warrant or otherwise
      hereunder will, when issued in accordance with the terms of this Warrant, be
      duly authorized, validly issued, fully paid and non-assessable and free from
      all
      taxes, liens and charges created by or through the Issuer. The Issuer further
      covenants and agrees that during the period within which this Warrant may be
      exercised, the Issuer will at all times have authorized and reserved for the
      purpose of the issuance upon exercise of this Warrant a number of authorized
      but
      unissued shares of Common Stock equal to at least one hundred fifty percent
      (150%) of the number of shares of Common Stock issuable upon exercise of this
      Warrant without regard to any limitations on exercise.

     

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

    
      
         

      

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

     

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

     

    (e) Payment
      of Taxes.
      The
      Issuer will pay any documentary stamp taxes attributable to the initial issuance
      of the Warrant Stock issuable upon exercise of this Warrant; provided,
      however,
      that
      the Issuer shall not be required to pay any tax or taxes which may be payable
      in
      respect of any transfer involved in the issuance or delivery of any certificates
      representing Warrant Stock in a name other than that of the Holder in respect
      to
      which such shares are issued.

     

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

    
      
         

      

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

     

    (i) In
      case
      the Issuer after the Original Issue Date shall do any of the following (each,
      a
“Triggering
      Event”):
      (a)
      consolidate or merge with or into any other Person and the Issuer shall not
      be
      the continuing or surviving corporation of such consolidation or merger, or
      (b)
      permit any other Person to consolidate with or merge into the Issuer and the
      Issuer shall be the continuing or surviving Person but, in connection with
      such
      consolidation or merger, any Capital Stock of the Issuer shall be changed into
      or exchanged for Securities of any other Person or cash or any other property,
      or (c) transfer all or substantially all of its properties or assets to any
      other Person, or (d) effect a capital reorganization or reclassification of
      its
      Capital Stock, then, and in the case of each such Triggering Event, proper
      provision shall be made to the Warrant Price and the number of shares of Warrant
      Stock that may be purchased upon exercise of this Warrant so that, upon the
      basis and the terms and in the manner provided in this Warrant, the Holder
      of
      this Warrant shall be entitled upon the exercise hereof at any time after the
      consummation of such Triggering Event, to the extent this Warrant is not
      exercised prior to such Triggering Event, to receive at the Warrant Price in
      effect at the time immediately prior to the consummation of such Triggering
      Event, in lieu of the Common Stock issuable upon such exercise of this Warrant
      prior to such Triggering Event, the Securities, cash and property to which
      such
      Holder would have been entitled upon the consummation of such Triggering Event
      if such Holder had exercised the rights represented by this Warrant immediately
      prior thereto (including the right of a shareholder to elect the type of
      consideration it will receive upon a Triggering Event), subject to adjustments
      (subsequent to such corporate action) as nearly equivalent as possible to the
      adjustments provided for elsewhere in this Section 4; provided,
      however,
      the
      Holder at its option may elect to receive an amount in unregistered shares
      of
      the common stock of the surviving entity equal to the value of this Warrant
      calculated in accordance with the Black-Scholes formula; provided,
      further,
      such
      shares of Common Stock shall be valued at a twenty percent (20%) discount to
      the
      VWAP of the Common Stock for the twenty (20) Trading Days immediately prior
      to
      the Triggering Event. Immediately upon the occurrence of a Triggering Event,
      the
      Issuer shall notify the Holder in writing of such Triggering Event and provide
      the calculations in determining the number of shares of Warrant Stock issuable
      upon exercise of the new warrant and the adjusted Warrant Price. Upon the
      Holder’s request, the continuing or surviving corporation as a result of such
      Triggering Event shall issue to the Holder a new warrant of like tenor
      evidencing the right to purchase the adjusted number of shares of Warrant Stock
      and the adjusted Warrant Price pursuant to the terms and provisions of this
      Section 4(a)(i). Notwithstanding the foregoing to the contrary, this Section
      4(a)(i) shall only apply if the surviving entity pursuant to any such Triggering
      Event is a company that has a class of equity securities registered pursuant
      to
      the Securities Exchange Act of 1934, as amended (the “Exchange
      Act”),
      and
      its common stock is listed or quoted on a national securities exchange, national
      automated quotation system or the OTC Bulletin Board. In the event that the
      surviving entity pursuant to any such Triggering Event is not a public company
      that is registered pursuant to the Exchange Act or its common stock is not
      listed or quoted on a national securities exchange, national automated quotation
      system or the OTC Bulletin Board, then the Holder shall have the right to demand
      that the Issuer pay to the Holder an amount in cash equal to the value of this
      Warrant calculated in accordance with the Black-Scholes
      formula.

    
      
         

      

      
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    (ii) In
      the
      event that the Holder has elected not to exercise this Warrant prior to the
      consummation of a Triggering Event and has also elected not to receive an amount
      in cash equal to the value of this Warrant calculated in accordance with the
      Black-Scholes formula pursuant to the provisions of Section 4(a)(i) above,
      so
      long as the surviving entity pursuant to any Triggering Event is a company
      that
      has a class of equity securities registered pursuant to the Exchange Act and
      its
      common stock is listed or quoted on a national securities exchange, national
      automated quotation system or the OTC Bulletin Board, the surviving entity
      and/or each Person (other than the Issuer) which may be required to deliver
      any
      Securities, cash or property upon the exercise of this Warrant as provided
      herein shall assume, by written instrument delivered to, and reasonably
      satisfactory to, the Holder of this Warrant, (A) the obligations of the Issuer
      under this Warrant (and if the Issuer shall survive the consummation of such
      Triggering Event, such assumption shall be in addition to, and shall not release
      the Issuer from, any continuing obligations of the Issuer under this Warrant)
      and (B) the obligation to deliver to such Holder such Securities, cash or
      property as, in accordance with the foregoing provisions of this subsection
      (a),
      such Holder shall be entitled to receive, and the surviving entity and/or each
      such Person shall have similarly delivered to such Holder an opinion of counsel
      for the surviving entity and/or each such Person, which counsel shall be
      reasonably satisfactory to such Holder, or in the alternative, a written
      acknowledgement executed by the President or Chief Financial Officer of the
      Issuer, stating that this Warrant shall thereafter continue in full force and
      effect and the terms hereof (including, without limitation, all of the
      provisions of this subsection (a)) shall be applicable to the Securities, cash
      or property which the surviving entity and/or each such Person may be required
      to deliver upon any exercise of this Warrant or the exercise of any rights
      pursuant hereto.

     

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

     

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

     

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

     

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

     

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

    
      
         

      

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

     

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

     

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

     

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

     

    then
      (1)
      the number of shares of Common Stock for which this Warrant is exercisable
      shall
      be adjusted to equal the product of the number of shares of Common Stock for
      which this Warrant is exercisable immediately prior to such adjustment
      multiplied by a fraction (A) the numerator of which shall be the Per Share
      Market Value of Common Stock at the date of taking such record and (B) the
      denominator of which shall be such Per Share Market Value minus the amount
      allocable to one share of Common Stock of any such cash so distributable and
      of
      the fair value (as determined in good faith by the Board of Directors of the
      Issuer and supported by an opinion from an investment banking firm mutually
      agreed upon by the Issuer and the Holder) of any and all such evidences of
      indebtedness, shares of stock, other securities or property or warrants or
      other
      subscription or purchase rights so distributable, and (2) the Warrant Price
      then
      in effect shall be adjusted to equal (A) the Warrant Price then in effect
      multiplied by the number of shares of Common Stock for which this Warrant is
      exercisable immediately prior to the adjustment divided by (B) the number of
      shares of Common Stock for which this Warrant is exercisable immediately after
      such adjustment. A reclassification of the Common Stock (other than a change
      in
      par value, or from par value to no par value or from no par value to par value)
      into shares of Common Stock and shares of any other class of stock shall be
      deemed a distribution by the Issuer to the holders of its Common Stock of such
      shares of such other class of stock within the meaning of this Section 4(c)
      and,
      if the outstanding shares of Common Stock shall be changed into a larger or
      smaller number of shares of Common Stock as a part of such reclassification,
      such change shall be deemed a subdivision or combination, as the case may be,
      of
      the outstanding shares of Common Stock within the meaning of Section
      4(b).

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    (d) Issuance
      of Additional Shares of Common Stock.
      

     

    (i) In
      the
      event the Company shall, at any time within eighteen (18) months following
      the
      effectiveness of the first registration statement filed pursuant to the
      Registration Rights Agreement among the Company and the of even date herewith,
      April 14, 2008 (the “Registration
      Rights Agreement”),
      the
      Issuer shall issue any Additional Shares of Common Stock (otherwise than as
      provided in the foregoing subsections (a) through (c) of this Section 4), at
      a
      price per share less than the Conversion Price then in effect or without
      consideration, then the Warrant Price upon each such issuance shall be adjusted
      by multiplying such price by (x) a fraction, the numerator of which shall be
      the
      consideration per share paid for such Additional Shares of Common Stock and
      the
      denominator of which shall be the Conversion Price and then by (y) a fraction
      (A) the numerator of which shall be equal to the sum of (x) the number of shares
      of outstanding Common Stock immediately prior to the issuance of such Additional
      Shares of Common Stock plus (B) the number of shares of Common Stock (rounded
      to
      the nearest whole share) which the aggregate consideration for the total number
      of such Additional Shares of Common Stock so issued would purchase at a price
      per share equal to the Warrant Price then in effect and (z) the denominator
      of
      which shall be equal to the number of shares of outstanding Common Stock
      immediately after the issuance of such Additional Shares of Common Stock. For
      purposes of this Section, all shares of Common Stock issuable upon exercise
      of
      options outstanding immediately prior to such issue or upon conversion of
      Convertible Securities (as defined below) outstanding immediately prior to
      such
      issue are deemed outstanding. No adjustment of the number of shares of Common
      Stock for which this Warrant shall be exercisable shall be made pursuant to
      this
      Section 4(d)(i) upon the issuance of any Additional Shares of Common Stock
      which
      are issued pursuant to the exercise of any Common Stock Equivalents, if any
      such
      adjustment shall previously have been made upon the issuance of such Common
      Stock Equivalents (or upon the issuance of any warrant or other rights therefor)
      pursuant to Section 4(e).

     

    (e) Issuance
      of Common Stock Equivalents.
      In the
      event the Issuer shall take a record of the holders of its Common Stock for
      the
      purpose of entitling them to receive a distribution of, or shall in any manner
      (whether directly or by assumption in a merger in which the Issuer is the
      surviving corporation) issue or sell, any Common Stock Equivalents, whether
      or
      not the rights to exchange or convert thereunder are immediately exercisable,
      and the price per share for which Common Stock is issuable upon such conversion
      or exchange shall be less than the Conversion Price in effect immediately prior
      to the time of such issue or sale, or if, after any such issuance of Common
      Stock Equivalents, the price per share for which Additional Shares of Common
      Stock may be issuable thereafter is amended or adjusted, and such price as
      so
      amended shall be less than the Conversion Price in effect at the time of such
      amendment or adjustment, then the Warrant Price then in effect shall be adjusted
      as provided in Section 4(d)(i). No further adjustments of the number of shares
      of Common Stock for which this Warrant is exercisable and the Warrant Price
      then
      in effect shall be made upon the actual issue of such Common Stock upon
      conversion or exchange of such Common Stock Equivalents.

     

    (f) Superseding
      Adjustment.
      If, at
      any time after any adjustment of the Warrant Price then in effect shall have
      been made pursuant to Section 4(e) as the result of any issuance of Common
      Stock
      Equivalents, and such Common Stock Equivalents, or the right of conversion
      or
      exchange in such Common Stock Equivalents, shall expire, and all of such or
      the
      right of conversion or exchange with respect to all of such Common Stock
      Equivalents shall not have been converted or exercised, then such previous
      adjustment shall be rescinded and annulled and the Warrant Price then in effect
      shall be adjusted to the Warrant Price in effect immediately prior to the
      issuance of such Common Stock Equivalents, subject to any further adjustments
      pursuant to this Section 4.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

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

     

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

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

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

     

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

     

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

     

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

     

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

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    5. Notice
      of Adjustments.
      Whenever the Warrant Price or Warrant Share Number shall be adjusted pursuant
      to
      Section 4 hereof (for purposes of this Section 5, each an “adjustment”),
      the
      Issuer shall cause its Chief Financial Officer to prepare and execute a
      certificate setting forth, in reasonable detail, the event requiring the
      adjustment, the amount of the adjustment, the method by which such adjustment
      was calculated (including a description of the basis on which the Board made
      any
      determination hereunder), and the Warrant Price and Warrant Share Number after
      giving effect to such adjustment, and shall cause copies of such certificate
      to
      be delivered to the Holder of this Warrant promptly after each adjustment.
      Any
      dispute between the Issuer and the Holder of this Warrant with respect to the
      matters set forth in such certificate may at the option of the Holder of this
      Warrant be submitted to a national or regional accounting firm reasonably
      acceptable to the Issuer and the Holder (the “Independent
      Appraiser”),
      provided
      that the
      Issuer shall have ten (10) days after receipt of notice from such Holder of
      its
      selection of such firm to object thereto, in which case such Holder shall select
      another such firm and the Issuer shall have no such right of objection. The
      Independent Appraiser selected by the Holder of this Warrant as provided in
      the
      preceding sentence shall be instructed to deliver a written opinion as to such
      matters to the Issuer and such Holder within thirty (30) days after submission
      to it of such dispute. Such opinion shall be final and binding on the parties
      hereto. The reasonable expenses of the Independent Appraiser in making such
      determination shall be paid by the Issuer, in the event the Holder's calculation
      was correct, or by the Holder, in the event the Issuer’s calculation was
      correct, or equally by the Issuer and the Holder in the event that neither
      the
      Issuer's or the Holder's calculation was correct.

     

    6. Fractional
      Shares.
      No
      fractional shares of Warrant Stock will be issued in connection with any
      exercise hereof, but in lieu of such fractional shares, the Issuer shall round
      the number of shares to be issued upon exercise up to the nearest whole number
      of shares.

     

    7. [Reserved]

     

    8. Registration
      Rights.
      The
      Holder of this Warrant is entitled to the benefit of certain registration rights
      with respect to the shares of Warrant Stock issuable upon the exercise of this
      Warrant pursuant to that certain Registration Rights Agreement and the
      registration rights with respect to the shares of Warrant Stock issuable upon
      the exercise of this Warrant by any subsequent Holder may only be assigned
      in
      accordance with the terms and provisions of the Registrations Rights
      Agreement.

     

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

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    “Additional
      Shares of Common Stock”
means
      all shares of Common Stock issued by the Issuer after the Original Issue Date,
      and all shares of Other Common, if any, issued by the Issuer after the Original
      Issue Date, except: (i) securities issued pursuant to a bona fide firm
      underwritten public offering of the Company’s securities, provided such
      underwritten public offering has been approved in advance by the holders of
      more
      than fifty percent (50%) of the then outstanding shares of Series A (the
“Majority
      Holders”),
      (ii)
      securities issued (other than for cash) in connection with a strategic merger,
      acquisition, or consolidation, provided that the issuance of such securities
      in
      connection with such strategic merger, acquisition, or consolidation has been
      approved in advance by the Majority Holders, (iii) securities issued pursuant
      to
      the conversion or exercise of convertible or exercisable securities issued
      or
      outstanding on or prior to the date of the Purchase Agreement or issued pursuant
      to the Purchase Agreement (so long as the conversion or exercise price in such
      securities are not amended to lower such price and/or adversely affect the
      Holders), (iv) the Warrant Stock, (v) securities issued in connection with
      bona
      fide strategic license agreements or other partnering arrangements so long
      as
      such issuances are not for the purpose of raising capital and provided that
      the
      issuance of such securities in connection with such bona fide strategic license
      agreements or other partnering arrangements has been approved in advance by
      the
      Majority Holders, (vi) Common Stock issued or the issuance or grants of options
      to purchase Common Stock pursuant to the Issuer’s equity incentive plans
      outstanding as they exist on the date of the Purchase Agreement, (vii) the
      issuance or grants of options to purchase Common Stock to employees, officers
      or
      directors of the Issuer pursuant to any equity incentive plan duly adopted
      by
      the Board or a committee thereof established for such purpose so long as such
      issuances in the aggregate do not exceed ten percent (10%) of the sum of the
      issued and outstanding shares of Common Stock (excluding shares of Common Stock
      issued upon exercise of option issued pursuant to a stock option plan), Warrant
      Shares and Conversion Shares, and the specified price at which the options
      may
      be exercised is equal to or greater than the Per Share Market Value as of the
      date of such grant, and (viii) any warrants, shares of Common Stock or other
      securities issued to a placement agent and its designees for the transactions
      contemplated by the Purchase Agreement or in any other sales of the Issuer’s
      securities and any securities issued in connection with any financial advisory
      agreements of the Issuer and the shares of Common Stock issued upon exercise
      of
      any such warrants or conversions of any such other securities.

     

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

     

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

     

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

     

    “Common
      Stock”
means
      the Common Stock, $0.001 par value per share, of the Issuer and any other
      Capital Stock into which such stock may hereafter be changed.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

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

     

    “Conversion
      Shares”
means
      the shares of Common Stock issuable upon conversion of outstanding shares of
      Preferred Stock.

     

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

     

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

     

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

     

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

     

    “Issuer”
means
      Aamaxan Transport Group, Inc., a Delaware corporation, and its
      successors.

     

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

     

    “Original
      Issue Date”
means
      April 14, 2008.

     

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

     

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

     

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

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

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

     

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

     

    “Preferred
      Stock”
means
      the Company’s Series A Convertible Preferred Stock, $0.001 par value per
      share

     

    “Purchase
      Agreement”
means
      the Securities Purchase Agreement dated as of April 14, 2008, among the Issuer
      and the Purchasers.

     

    “Purchase
      Price”
means
      the Conversion Price of the Preferred Stock.

     

    “Purchasers”
means
      the purchasers of the Units, each containing one share of Series A Convertible
      Preferred Stock and the Warrants issued by the Issuer pursuant to the Purchase
      Agreement.

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

     

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

     

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

     

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

     

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

     

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

     

    “Trading
      Market”
means
      the following markets or exchanges on which the Common Stock is listed or quoted
      for trading on the date in question: the American Stock Exchange, the Nasdaq
      Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
      the
      New York Stock Exchange or the OTC Bulletin Board.

     

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

     

    “VWAP”
means,
      for any date, the price determined by the first of the following clauses that
      applies: (a) if the Common Stock is then listed or quoted on a Trading Market,
      the daily volume weighted average price of the Common Stock for such date (or
      the nearest preceding date) on the Trading Market on which the Common Stock
      is
      then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day
      from
      9:30 a.m. New York City time to 4:02 p.m. New York City time); (b) if the OTC
      Bulletin Board is not a Trading Market, the volume weighted average price of
      the
      Common Stock for such date (or the nearest preceding date) on the OTC Bulletin
      Board; (c) if the Common Stock is not then listed or quoted on the OTC Bulletin
      Board and if prices for the Common Stock are then reported in the "Pink Sheets"
      published by Pink Sheets, LLC (or a similar organization or agency succeeding
      to
      its functions of reporting prices), the most recent bid price per share of
      the
      Common Stock so reported; or (d) in all other cases, the fair market value
      of a
      share of Common Stock as determined by an independent appraiser selected in
      good
      faith by the Holders of a majority in interest of the Warrants then outstanding
      and reasonably acceptable to the Company, the fees and expenses of which shall
      be paid by the Company.

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

     

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

     

    “Warrant
      Price”
      initially means $3.91,
      as such
      price may be adjusted from time to time as shall result from the adjustments
      specified in this Warrant, including Section 4 hereto.

     

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

     

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

     

    10. Other
      Notices.
      In case
      at any time:

     

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

     

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

     

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

     

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

     

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

     

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

     

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

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

     

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

     

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

     

    13. Notices.
      Any
      notice, demand, request, waiver or other communication required or permitted
      to
      be given hereunder shall be in writing and shall be effective (a) immediately
      upon hand delivery, telecopy or facsimile at the address or number designated
      below (if delivered on a business day during normal business hours where such
      notice is to be received), or the first business day following such delivery
      (if
      delivered other than on a business day during normal business hours where such
      notice is to be received) or (b) on the second business day following the date
      of mailing by express courier service, fully prepaid, addressed to such address,
      or upon actual receipt of such mailing, whichever shall first occur. The
      addresses for such communications shall be:

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    

    
      	
              If
                to the Issuer: 

               

            	
              Mr.
                Chen Zhong

              Aamaxan
                Transport Group, Inc.

              2a,
                2b, No.8 Building No. 200 Newton Road

              Zhangjang
                High-Tech Park

              Shanghai

              PRC

              Tel.
                No.: 86-21-508-05-789

              Fax
                No.: 86-21-508-02-149

            
	 	 
	
              with
                copies (which copies

              shall
                not constitute notice)

              to:

            	
              Guzov
                Ofsink, LLC

              600
                Madison Avenue, 14th Floor

              New
                York, New York 10022

              Attention:
                Darren Ofsink

              Tel.
                No.: (212) 371-8008, ext. 102

              Fax
                No.: (212) 688-7273

            
	 	 
	
              If
                to any Holder:

            	
              At
                the address of such Holder set forth on 

              Exhibit
                A to this Agreement, with copies to 

              Holder’s
                counsel as set forth on Exhibit A 

              or
                as specified in writing by such Holder 

            
	 	 
	
              with
                copies (which copies

              shall
                not constitute notice)

              to:

            	
              Wells
                Moore Simmons & Hubbard PLLC 

              P.O.
                Box 1970

              Jackson,
                MS 39215-1970

              Attention.:
                Nash Neyland

              Phone:(601)
                354-5400

              Fax:
                (601) 355-5850

            

    

     

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

     

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

     

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

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

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

     

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

     

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

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     

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

     

    
      	
              AAMAXAN
                TRANSPORT GROUP, INC.

            
	 	 
	
              By:
                

            	  

	
              Name:

            	 
	
              Title:

            	 

    

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

     

    EXERCISE
      FORM

    SERIES
      A
      WARRANT

     

    AAMAXAN
      TRANSPORT GROUP, INC.

     

    The
      undersigned _______________, pursuant to the provisions of the within Warrant,
      hereby elects to purchase _____ shares of Common Stock of
      ________________________________ covered by the within Warrant.

     

    
      	
              Dated:

            	  
	 	
              Signature

            	   

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	
              Address

            	   

	 	 	 	 	   

	 	 	 	 	 

    

     

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

     

    The
      undersigned is an “accredited investor” as defined in Regulation D under the
      Securities Act of 1933, as amended.

     

    The
      undersigned intends that payment of the Warrant Price shall be made as (check
      one):

     

    Cash
      Exercise_______

     

    Cashless
      Exercise_______

     

    If
      the
      Holder has elected a Cash Exercise, the Holder shall pay the sum of $________
      by
      certified or official bank check (or via wire transfer) to the Issuer in
      accordance with the terms of the Warrant.

     

    If
      the
      Holder has elected a Cashless Exercise, a certificate shall be issued to the
      Holder for the number of shares equal to the whole number portion of the product
      of the calculation set forth below, which is ___________. The Company shall
      pay
      a cash adjustment in respect of the fractional portion of the product of the
      calculation set forth below in an amount equal to the product of the fractional
      portion of such product and the Per Share Market Value on the date of exercise,
      which product is ____________.

     

    
      	
              X
                =
                Y - 

            	
              (A)(Y)

            
	 	
                
                B

            

    

     

    Where:

     

    The
      number of shares of Common Stock to be issued to the Holder
      __________________(“X”).

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    The
      number of shares of Common Stock purchasable upon exercise of all of the Warrant
      or, if only a portion of the Warrant is being exercised, the portion of the
      Warrant being exercised ___________________________ (“Y”).

     

    The
      Warrant Price ______________ (“A”).

     

    The
      Per
      Share Market Value of one share of Common Stock _______________________
      (“B”).

     

    ASSIGNMENT

     

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

    
       

      
        	
                Dated:

              	  
	 	
                Signature

              	   

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	
                Address

              	   

	 	 	 	 	   

	 	 	 	 	 

      

    

     

    PARTIAL
      ASSIGNMENT

     

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

    
       

      
        	
                Dated:

              	  
	 	
                Signature

              	   

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	
                Address

              	   

	 	 	 	 	   

	 	 	 	 	 

      

    

     

    FOR
      USE
      BY THE ISSUER ONLY:

     

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

    
      
         

      

      
        24REGISTRATION
      RIGHTS AGREEMENT

     

    This
      Registration Rights Agreement (this “Agreement”)
      is
      made and entered into as of April 14, 2008, by and among Aamaxan Transport
      Group, Inc., a Delaware corporation (the “Company”), and the purchasers listed
      on Schedule I hereto (the “Purchasers”).

     

    This
      Agreement is being entered into pursuant to the Securities Purchase Agreement
      dated as of the date hereof among the Company and the Purchasers (the
“Purchase
      Agreement”).

     

    The
      Company and the Purchasers hereby agree as follows:

     

    
      
        
          	
                	1.	
                  Definitions.

                

        

      

    

     

    Capitalized
      terms used and not otherwise defined herein shall have the meanings given such
      terms in the Purchase Agreement. As used in this Agreement, the following terms
      shall have the following meanings:

     

    “Additional
      Filing Date”
shall
      mean the thirtieth (30th)
      day
      following the date on which a Demand Notice is received by the Company;
provided
      that if
      any Additional Filing Date falls on a Saturday, Sunday or any other day which
      shall be a legal holiday or a day on which the Commission is authorized by
      law
      or other government actions to close, the Additional Filing Date shall be the
      following Business Day.

     

    “Advice”
shall
      have meaning set forth in Section 3(m).

     

    “Affiliate”
means,
      with respect to any Person, any other Person that directly or indirectly
      controls or is controlled by or under common control with such Person. For
      the
      purposes of this definition, “control,” when used with respect to any Person,
      means the possession, direct or indirect, of the power to direct or cause the
      direction of the management and policies of such Person, whether through the
      ownership of voting securities, by contract or otherwise; and the terms of
      “affiliated,”
      “controlling”
and
      “controlled”
have
      meanings correlative to the foregoing.

     

    “Board”
shall
      have meaning set forth in Section 3(n).

     

    “Business
      Day”
means
      any day except Saturday, Sunday and any day which shall be a legal holiday
      or a
      day on which banking institutions in the state of New York generally are
      authorized or required by law or other government actions to close.

     

    “Closing
      Date”
means
      the date of the Closing of the purchase and sale of the Preferred Stock and
      the
      Warrants pursuant to the Purchase Agreement.

     

    “Commission”
means
      the Securities and Exchange Commission.

     

    “Common
      Stock”
means
      the Company’s Common Stock, par value $0.001 per share.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “Conversion
      Shares”
means
      the shares of the Company’s Common Stock issuable upon conversion of the
      Company’s Preferred Stock.

     

    “Demand
      Notice”
shall
      have the meaning set forth in Section 2A.

     

    “Effectiveness
      Date”
means,
      with respect to any Registration Statement the earlier of (A) (i) the one
      hundred fiftieth (150th)
      day
      following the Filing Date or any Additional Filing Dates, as applicable, or
      (ii)
      in the event the Registration Statement receives a “full review” by the
      Commission, the one hundred eightieth (180th)
      day
      following the Filing Date or any Additional Filing Dates, as applicable, or
      (B)
      the date which is within three (3) Business Days after the date on which the
      Commission informs the Company that the (i) the Commission will not review
      a
      Registration Statement or (ii) the Company may request the acceleration of
      the
      effectiveness of a Registration Statement and the Company makes such request;
      provided,
      that,
      if the Effectiveness Date falls on a Saturday, Sunday or any other day which
      shall be a legal holiday or a day on which the Commission is authorized or
      required by law or other government actions to close, the Effectiveness Date
      shall be the following Business Day.

     

    “Effectiveness
      Period”
shall
      have the meaning set forth in Section 2.

     

    “Event”
shall
      have the meaning set forth in Section 8(e).

     

    “Event
      Date”
shall
      have the meaning set forth in Section 8(e).

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended.

     

    “Filing
      Date”
means,
      the forty-fifth (45th)
      day
      following the Closing Date; provided,
      that,
      if the Filing Date falls on a Saturday, Sunday or any other day which shall
      be a
      legal holiday or a day on which the Commission is authorized or required by
      law
      or other government actions to close, the Filing Date shall be the following
      Business Day.

     

    “Holder”
or
      “Holders”
means
      the holder or holders, as the case may be, from time to time of Registrable
      Securities.

     

    “Indemnified
      Party”
shall
      have the meaning set forth in Section 5(c).

     

    “Indemnifying
      Party”
shall
      have the meaning set forth in Section 5(c).

     

    “Initiating
      Holders”
shall
      have the meaning set forth in Section 2A.

     

    “Losses”
shall
      have the meaning set forth in Section 5(a).

     

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

     

    “Preferred
      Stock”
means
      shares of the Company’s Series A Senior Convertible Preferred Stock issued to
      the Purchasers pursuant to the Purchase Agreement.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    “Proceeding”
means
      an action, claim, suit, investigation or proceeding (including, without
      limitation, an investigation or partial proceeding, such as a deposition),
      whether commenced or threatened.

     

    “Prospectus”
means
      the prospectus included in a Registration Statement (including, without
      limitation, a prospectus that includes any information previously omitted from
      a
      prospectus filed as part of an effective registration statement in reliance
      upon
      Rule 430A promulgated under the Securities Act), as amended or supplemented
      by
      any prospectus supplement, with respect to the terms of the offering of any
      portion of the Registrable Securities covered by a Registration Statement,
      and
      all other amendments and supplements to the Prospectus, including post-effective
      amendments, and all material incorporated by reference in such
      Prospectus.

     

    “Registrable
      Securities”
means
      (i) the shares of Common Stock issuable upon conversion of the Preferred Stock
      (“Conversion Shares”), (ii) the shares of Common Stock issuable upon exercise of
      the Warrants (“Warrant Shares”) and (iii) the shares of Common Stock issuable to
      the Purchasers pursuant to the Securities Escrow Agreement.

     

    “Registration
      Statement”
means
      the registration statements and any additional registration statements
      contemplated by Section 2, including (in each case) the Prospectus, amendments
      and supplements to such registration statement or Prospectus, including pre-
      and
      post-effective amendments, all exhibits thereto, and all material incorporated
      by reference in such registration statement.

     

    “Rule
      144”
means
      Rule 144 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    “Rule
      158”
means
      Rule 158 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    “Rule
      415”
means
      Rule 415 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    “Rule
      424”
means
      Rule 424 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended.

     

    “Securities
      Escrow Agreement”
means
      the Securities Escrow Agreement dated as of April 14, 2008 by and among the
      Company, Pope Investments II, LLC as purchaser representative, Kamick Assets
      Limited,
      a
      British Virgin Islands company and Tri-State
      Title & Escrow, LLC.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    “Securities
      Purchase Agreement” means the Securities Purchase Agreement dated as of April
      14, 2008 by and among the Company and Pope
      Investments II, LLC and the other investors listed in Exhibit A
      thereto.

     

    “Special
      Counsel”
means
      Wells Moore Simmons & Hubbard PLLC, for which the Holders will be reimbursed
      by the Company pursuant to Section 4.

     

    “Units”
shall
      have the meaning ascribed to such term in the Securities Purchase
      Agreement.

     

    “Warrants”
means
      the warrants to purchase shares of Common Stock issued to the Purchasers
      pursuant to the Purchase Agreement.

     

    
      	
            	2.	
              Resale
                Registrations. 

            

    

     

    (a) On
      or
      prior to the Filing Date, the Company shall prepare and file with the Commission
      a “resale” Registration Statement providing for the resale of all Conversion
      Shares and Warrant Shares (the “Initial Registrable Securities”), for an
      offering to be made on a continuous basis pursuant to Rule 415. Such
      Registration Statement shall be on Form S-1 (except if the Company is not then
      eligible to register for resale the Conversion Shares on Form S-1) or another
      appropriate form in accordance herewith and the Securities Act and the rules
      promulgated thereunder. Such Registration Statement shall cover to the extent
      allowable under the Securities Act and the rules promulgated thereunder
      (including Rules 415 and 416), such indeterminate number of additional shares
      of
      Common Stock resulting from stock splits, stock dividends or similar
      transactions with respect to the Initial Registrable Securities. The Company
      shall (i) not permit any securities other than the Initial Registrable
      Securities to be included in such Registration Statement and (ii) use its best
      efforts to cause such Registration Statement to be declared effective under
      the
      Securities Act as promptly as possible after the filing thereof, but in any
      event prior to the applicable Effectiveness Date, and to keep such Registration
      Statement continuously effective under the Securities Act until such date as
      is
      the earlier of (x) the date when all Initial Registrable Securities covered
      by
      such Registration Statement have been sold or (y) the date on which the Initial
      Registrable Securities may be sold without any restriction pursuant to Rule
      144 as
      determined by the counsel to the Company pursuant to a written opinion letter,
      addressed to the Company’s transfer agent to such effect (the “Effectiveness
      Period”). The Company shall request that the effective time of any such
      Registration Statement is 5:00 p.m. Eastern Time on the effective date.

     

    (b) In
      the
      event that the Company is unable to register for resale under Rule 415 of
      Regulation C under the Securities Act all of the Initial Registrable Securities
      on the Registration Statement that it has agreed to file pursuant to the first
      sentence of this Section 2(a) due to limits imposed by the Commission’s
      interpretation of Rule 415 of Regulation C under the Securities Act, the Company
      will file a Registration Statement under the Securities Act with the Commission
      covering the resale by the holders of the Initial Registrable Securities of
      such
      lesser amount of the as the Company is able to register pursuant to the
      Commission’s interpretation of Rule 415 of Regulation C under the Securities
      Act, and use its reasonable best efforts to have such Registration Statement
      become effective as promptly as possible, and, when permitted to do so by the
      Commission, to file subsequent registration statement(s) under the Securities
      Act with the Commission covering the resale any Initial Registrable Securities
      that were omitted from previous registration statement(s) and use its reasonable
      best efforts to have such registration declared effective as promptly as
      possible; provided, however, that the Conversion Shares shall receive priority
      to be included in a Registration Statement when limits may be imposed on the
      number of shares to be registered under Rule 415. In furtherance of the
      Company’s obligations set forth in the preceding sentence, the parties hereby
      agree that in the event that any Holder shall deliver to the Company a written
      notice at any time after the later of (x) the date which is six months after
      the
      Effectiveness Date of the latest Registration Statement that was filed pursuant
      to Section 2(a) or 2(b) hereof, as applicable, or (y) the date on which all
      Initial Registrable Securities registered on the all of the prior Registration
      Statements filed pursuant to Section 2(a) and 2(b) hereof are sold, that the
      Company shall file, within 30 days following the date of receipt of such written
      notice, an additional Registration Statement registering any Initial Registrable
      Securities that were omitted from the initial Registration Statement.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	
            	2A.	
              Demand
                Registrations.

            

    

     

    (a) At
      any
      time following the date on which all Initial Registrable Securities have been
      registered for resale pursuant to Section 2 hereof (the “Permitted Request
      Date”), (i) a Holder or Holders owning 25% or more in interest (the “Initiating
      Holders”) of the Registrable Securities (other than the Initial Registrable
      Securities)(the “Remaining
      Registrable Securities”)
      may
      request that the Company file a Registration Statement providing for the resale
      of all Remaining Registrable Securities then held by the Initiating Holders
      by
      giving written notice (a “Demand Notice”) of such demand to the Company. The
      Demand Notice shall describe the number of Remaining Registrable Securities
      intended to be disposed of and the intended method of disposition. The Company
      shall then prepare and file with the Commission on or prior to the Additional
      Filing Date, a “resale” Registration Statement providing for the resale of all
      Remaining Registrable Securities included in the Demand Notice for an offering
      to be made on a continuous basis pursuant to Rule 415. Any such Registration
      Statements shall be on Form S-1 (except if the Company is not then eligible
      to
      register for resale such Remaining Registrable Securities on Form S-1, in which
      case such registrations shall be on another appropriate form in accordance
      herewith and the Securities Act and the rules promulgated thereunder). Each
      such
      Registration Statement shall cover to the extent allowable under the Securities
      Act and the rules promulgated thereunder (including Rules 415 and 416), such
      indeterminate number of additional shares of Common Stock resulting from stock
      splits, stock dividends or similar transactions with respect to the Registrable
      Securities. The Company shall (i) not permit any securities other than the
      Remaining Registrable Securities to be included in any such Registration
      Statement and (ii) use its reasonable best efforts to cause any such
      Registration Statement to be declared effective under the Securities Act as
      promptly as possible after the filing thereof, but in any event prior to the
      applicable Effectiveness Date, and to keep any such Registration Statement
      continuously effective under the Securities Act until such date as is the
      earlier of (x) the date when all Registrable Securities covered by such
      Registration Statement have been sold or (y) the date on which the Remaining
      Registrable Securities may be sold without any restriction pursuant to Rule
      144
      as determined by the counsel to the Company pursuant to a written opinion
      letter, addressed to the Company’s transfer agent to such effect (the
“Effectiveness Period”). The Company shall request that the effective time of
      any such Registration Statement is 5:00 p.m. Eastern Time on the effective
      date.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (b) In
      the
      event that the Company is unable to register for resale under Rule 415 of
      Regulation C under the Securities Act all of the Remaining Registrable
      Securities on any of the Registration Statements that it has agreed to file
      pursuant to the first sentence of this Section 2A(a) due to limits imposed
      by
      the Commission’s interpretation of Rule 415 of Regulation C under the Securities
      Act, the Company will file a Registration Statement under the Securities Act
      with the Commission covering the resale by the Purchasers of such lesser amount
      of the Remaining Registrable Securities (in the proportions set forth in the
      last sentence of this Section 2A(b)) as the Company is able to register pursuant
      to the Commission’s interpretation of Rule 415 of Regulation C under the
      Securities Act and use its reasonable best efforts to have such Registration
      Statement become effective as promptly as possible, and, when permitted to
      do so
      by the Commission, to file subsequent registration statement(s) under the
      Securities Act with the Commission covering the resale any Remaining Registrable
      Securities that were omitted from its prior Registration Statements filed with
      the Commission pursuant to this Section 2A(b) and use its reasonable best
      efforts to have such registration declared effective as promptly as possible.
      In
      furtherance of the Company’s obligations set forth in the preceding sentence,
      the parties hereby agree that in the event that any Holder shall deliver to
      the
      Company a written notice at any time after the later of (x) the date which
      is
      six months after the Effectiveness Date of the latest Registration Statement
      filed pursuant to Section 2A(a) or 2A(b) hereof, as applicable, or (y) the
      date
      on which all Remaining Registrable Securities registered on all of the prior
      Registration Statements filed pursuant to Section 2A(a) and 2A(b) hereof are
      sold, that the Company shall file, within 30 days following the date of receipt
      of such written notice, an additional Registration Statement registering any
      Remaining Registrable Securities that were the subject of the applicable Demand
      Notice that were omitted from such Registration Statement. 

     

    
      	 	
              3.

            	
              Registration
                Procedures.

            

    

     

    In
      connection with the Company’s registration obligations hereunder, the Company
      shall:

     

    (a) Prepare
      and file with the Commission, on or prior to each of the Filing Date and each
      Additional Filing Date, a Registration Statement on Form S-1 or another
      appropriate form in accordance herewith and the Securities Act and the rules
      promulgated thereunder in accordance with the plan of distribution as set forth
      on Exhibit
      A
      hereto
      and in accordance with applicable law, and cause such Registration Statement
      to
      become effective and remain effective as provided herein; provided,
      however,
      that
      not less than five (5) Business Days prior to the filing of such Registration
      Statement or any related Prospectus or any amendment or supplement thereto,
      the
      Company shall (i) furnish to the Holders and any Special Counsel, copies of
      all
      such documents proposed to be filed, which documents will be subject to the
      review of such Holders and such Special Counsel, and (ii) cause its officers
      and
      directors, counsel and independent certified public accountants to respond
      to
      such inquiries as shall be necessary, in the reasonable opinion of Special
      Counsel, to conduct a reasonable review of such documents. The Company shall
      not
      file any Registration Statement or any such Prospectus or any amendments or
      supplements thereto to which the Holders of a majority of the Registrable
      Securities or any Special Counsel shall reasonably object in writing within
      three (3) Business Days of their receipt thereof. 

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    (b) (i)
      Prepare and file with the Commission such amendments, including post-effective
      amendments, to each Registration Statement as may be necessary to keep such
      Registration Statement continuously effective as to the applicable Registrable
      Securities for the applicable Effectiveness Period and prepare and file with
      the
      Commission such additional Registration Statements as necessary in order to
      register for resale under the Securities Act all of the Registrable Securities;
      (ii) cause any related Prospectus to be amended or supplemented by any required
      Prospectus supplement, and as so supplemented or amended to be filed pursuant
      to
      Rule 424 (or any similar provisions then in force) promulgated under the
      Securities Act; (iii) respond as promptly as possible, but in no event later
      than ten (10) Business Days, to any comments received from the Commission with
      respect to any such Registration Statement or any amendment thereto and as
      promptly as possible provide the Holders true and complete copies of all
      correspondence from and to the Commission relating to any such Registration
      Statement; (iv) file the final prospectus pursuant to Rule 424 of the Securities
      Act no later than 9:00 a.m. Eastern Time on the Business Day following the
      date
      any such Registration Statement is declared effective by the Commission; and
      (v)
      comply in all material respects with the provisions of the Securities Act and
      the Exchange Act with respect to the disposition of all Registrable Securities
      covered by any such Registration Statement during the Effectiveness Period
      in
      accordance with the intended methods of disposition by the Holders thereof
      set
      forth in such Registration Statement as so amended or in such Prospectus as
      so
      supplemented.

     

    (c) Notify
      the Holders of Registrable Securities and any Special Counsel as promptly as
      possible (and, in the case of (i)(A) below, not less than three (3) Business
      Days prior to such filing, and in the case of (iii) below, on the same day
      of
      receipt by the Company of such notice from the Commission) and (if requested
      by
      any such Person) confirm such notice in writing no later than one (1) Business
      Day following the day (i)(A) when a Prospectus or any Prospectus supplement
      or
      post-effective amendment to any Registration Statement is filed; (B) when the
      Commission notifies the Company whether there will be a “review” of such
      Registration Statement and whenever the Commission comments in writing on such
      Registration Statement and (C) with respect to any Registration Statement or
      any
      post-effective amendment, when the same has become effective; (ii) of any
      request by the Commission or any other Federal or state governmental authority
      for amendments or supplements to any Registration Statement or Prospectus or
      for
      additional information; (iii) of the issuance by the Commission of any stop
      order suspending the effectiveness of any Registration Statement covering any
      or
      all of the Registrable Securities or the initiation or threatening of any
      Proceedings for that purpose; (iv) if at any time any of the representations
      and
      warranties of the Company contained in any agreement contemplated hereby ceases
      to be true and correct in all material respects; (v) of the receipt by the
      Company of any notification with respect to the suspension of the qualification
      or exemption from qualification of any of the Registrable Securities for sale
      in
      any jurisdiction, or the initiation or threatening of any Proceeding for such
      purpose; and (vi) of the occurrence of any event that makes any statement made
      in any Registration Statement or Prospectus or any document incorporated or
      deemed to be incorporated therein by reference untrue in any material respect
      or
      that requires any revisions to such Registration Statement, Prospectus or other
      documents so that, in the case of any Registration Statement or the Prospectus,
      as the case may be, it will not contain any untrue statement of a material
      fact
      or omit to state any material fact required to be stated therein or necessary
      to
      make the statements therein, in the light of the circumstances under which
      they
      were made, not misleading.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    (d) Use
      its
      best efforts to avoid the issuance of, or, if issued, obtain the withdrawal
      of,
      as promptly as possible, (i) any order suspending the effectiveness of any
      such
      Registration Statement or (ii) any suspension of the qualification (or exemption
      from qualification) of any of the Registrable Securities for sale in any
      jurisdiction.

     

    (e) If
      requested by the Holders of a majority in interest of the Registrable
      Securities, (i) promptly incorporate in a Prospectus supplement or
      post-effective amendment to any Registration Statement such information as
      the
      Company reasonably agrees should be included therein and (ii) make all required
      filings of such Prospectus supplement or such post-effective amendment as soon
      as practicable after the Company has received notification of the matters to
      be
      incorporated in such Prospectus supplement or post-effective
      amendment.

     

    (f) If
      requested by any Holder, furnish to such Holder and any Special Counsel, without
      charge, at least one conformed copy of each Registration Statement and each
      amendment thereto, including financial statements and schedules, all documents
      incorporated or deemed to be incorporated therein by reference, and all exhibits
      to the extent requested by such Person (including those previously furnished
      or
      incorporated by reference) promptly after the filing of such documents with
      the
      Commission.

     

    (g) Promptly
      deliver to each Holder and any Special Counsel, without charge, as many copies
      of the Prospectus or Prospectuses (including each form of prospectus) and each
      amendment or supplement thereto as such Persons may reasonably request; and
      subject to the provisions of Sections 3(m) and 3(n), the Company hereby consents
      to the use of such Prospectus and each amendment or supplement thereto by each
      of the selling Holders in connection with the offering and sale of the
      Registrable Securities covered by such Prospectus and any amendment or
      supplement thereto.

     

    (h) Prior
      to
      any public offering of Registrable Securities, use its best efforts to register
      or qualify or cooperate with the selling Holders and any Special Counsel in
      connection with the registration or qualification (or exemption from such
      registration or qualification) of such Registrable Securities for offer and
      sale
      under the securities or Blue Sky laws of such jurisdictions within the United
      States as any Holder requests in writing, to keep each such registration or
      qualification (or exemption therefrom) effective during the Effectiveness Period
      and to do any and all other acts or things necessary or advisable to enable
      the
      disposition in such jurisdictions of the Registrable Securities covered by
      a
      Registration Statement; provided,
      however,
      that
      the Company shall not be required to qualify generally to do business in any
      jurisdiction where it is not then so qualified or to take any action that would
      subject it to general service of process in any such jurisdiction where it
      is
      not then so subject or subject the Company to any material tax in any such
      jurisdiction where it is not then so subject.

     

    (i) Cooperate
      with the Holders to facilitate the timely preparation and delivery of
      certificates representing Registrable Securities to be sold pursuant to a
      Registration Statement, which certificates, to the extent permitted by the
      Purchase Agreement and applicable federal and state securities laws, shall
      be
      free of all restrictive legends, and to enable such Registrable Securities
      to be
      in such denominations and registered in such names as any Holder may request
      in
      connection with any sale of Registrable Securities.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    (j) Upon
      the
      occurrence of any event contemplated by Section 3(c)(vi), as promptly as
      possible, prepare a supplement or amendment, including a post-effective
      amendment, to a Registration Statement or a supplement to the related Prospectus
      or any document incorporated or deemed to be incorporated therein by reference,
      and file any other required document so that, as thereafter delivered, neither
      such Registration Statement nor such Prospectus will contain an untrue statement
      of a material fact or omit to state a material fact required to be stated
      therein or necessary to make the statements therein, in the light of the
      circumstances under which they were made, not misleading.

     

    (k) Use
      its
      best efforts to cause all Registrable Securities relating to any Registration
      Statement to be listed or quoted on the OTC Bulletin Board or any other
      securities exchange, quotation system or market, if any, on which similar
      securities issued by the Company are then listed or traded as and when required
      pursuant to the Purchase Agreement.

     

    (l) Comply
      in
      all material respects with all applicable rules and regulations of the
      Commission and make generally available to its security holders all documents
      filed or required to be filed with the Commission, including, but not limited,
      to, earning statements satisfying the provisions of Section 11(a) of the
      Securities Act and Rule 158 not later than 45 days after the end of any 12-month
      period (or 90 days after the end of any 12-month period if such period is a
      fiscal year) commencing on the first day of the first fiscal quarter of the
      Company after the effective date of each of the Registration Statements, which
      statement shall conform to the requirements of Rule 158.

     

    (m) The
      Company may require each selling Holder to furnish to the Company information
      regarding such Holder and the distribution of such Registrable Securities as
      is
      required by law to be disclosed in any Registration Statement, Prospectus,
      or
      any amendment or supplement thereto, and the Company may exclude from such
      registration the Registrable Securities of any such Holder who unreasonably
      fails to furnish such information within a reasonable time after receiving
      such
      request.

     

    If
      any
      Registration Statement refers to any Holder by name or otherwise as the holder
      of any securities of the Company, then such Holder shall have the right to
      require (if such reference to such Holder by name or otherwise is not required
      by the Securities Act or any similar federal statute then in force) the deletion
      of the reference to such Holder in any amendment or supplement to such
      Registration Statement filed or prepared subsequent to the time that such
      reference ceases to be required.

     

    Each
      Holder covenants and agrees that it will not sell any Registrable Securities
      under any Registration Statement until the Company has electronically filed
      the
      Prospectus as then amended or supplemented as contemplated in Section 3(g)
      and
      notice from the Company that such Registration Statement and any post-effective
      amendments thereto have become effective as contemplated by Section
      3(c).

     

    Each
      Holder agrees by its acquisition of such Registrable Securities that, upon
      receipt of a notice from the Company of the occurrence of any event of the
      kind
      described in Section 3(c)(ii), 3(c)(iii), 3(c)(iv), 3(c)(v), 3(c)(vi) or 3(n),
      such Holder will forthwith discontinue disposition of such Registrable
      Securities under a Registration Statement until such Holder’s receipt of the
      copies of the supplemented Prospectus and/or amended Registration Statement
      contemplated by Section 3(j), or until it is advised in writing (the
“Advice”)
      by the
      Company that the use of the applicable Prospectus may be resumed, and, in either
      case, has received copies of any additional or supplemental filings that are
      incorporated or deemed to be incorporated by reference in such Prospectus or
      Registration Statement.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    (n) If
      (i)
      there is material non-public information regarding the Company which the
      Company’s Board of Directors (the “Board”)
      determines not to be in the Company’s best interest to disclose and which the
      Company is not otherwise required to disclose, (ii) there is a significant
      business opportunity (including, but not limited to, the acquisition or
      disposition of assets (other than in the ordinary course of business) or any
      merger, consolidation, tender offer or other similar transaction) available
      to
      the Company which the Board determines not to be in the Company’s best interest
      to disclose, or (iii) the Company is required to file a post-effective amendment
      to a Registration Statement to incorporate the Company’s quarterly and annual
      reports and audited financial statements on Forms 10-QSB and 10-KSB, then the
      Company may (x) postpone or suspend filing of a registration statement for
      a
      period not to exceed thirty (30) consecutive days or (y) postpone or suspend
      effectiveness of a registration statement for a period not to exceed twenty
      (20)
      consecutive days; provided,
      that
      the Company may not postpone or suspend effectiveness of a registration
      statement under this Section 3(n) for more than forty-five (45) days in the
      aggregate during any three hundred sixty (360) day period; provided,
      however,
      that no
      such postponement or suspension shall be permitted for consecutive twenty (20)
      day periods arising out of the same set of facts, circumstances or
      transactions.

     

    
      	 	
              4.

            	
              Registration
                Expenses.

            

    

     

    All
      fees
      and expenses incident to the performance of or compliance with this Agreement
      by
      the Company, except as and to the extent specified in this Section 4, shall
      be
      borne by the Company whether or not a Registration Statement is filed or becomes
      effective and whether or not any Registrable Securities are sold pursuant to
      such Registration Statement. The fees and expenses referred to in the foregoing
      sentence shall include, without limitation, (i) all registration and filing
      fees
      (including, without limitation, fees and expenses (A) with respect to filings
      required to be made with each securities exchange or market on which Registrable
      Securities are required hereunder to be listed, if any, (B) with respect to
      filing fees required to be paid to the Financial Industry Regulatory Authority
      and the NASD Regulation, Inc. (including, without limitation, pursuant to NASD
      Rule 2710) and (C) in compliance with state securities or Blue Sky laws
      (including, without limitation, fees and disbursements of counsel for the
      Holders in connection with Blue Sky qualifications of the Registrable Securities
      and determination of the eligibility of the Registrable Securities for
      investment under the laws of such jurisdictions as the Holders of a majority
      of
      Registrable Securities may designate)), (ii) printing expenses (including,
      without limitation, expenses of printing certificates for Registrable Securities
      and of printing prospectuses if the printing of prospectuses is requested by
      the
      holders of a majority of the Registrable Securities included in a Registration
      Statement), (iii) messenger, telephone and delivery expenses, (iv) fees and
      disbursements of counsel for the Company and Special Counsel for the Holders,
      in
      the case of the Special Counsel, up to a maximum amount of $7,500, (v)
      Securities Act liability insurance, if the Company so desires such insurance,
      and (vi) fees and expenses of all other Persons retained by the Company in
      connection with the consummation of the transactions contemplated by this
      Agreement, including, without limitation, the Company’s independent public
      accountants (including the expenses of any comfort letters or costs associated
      with the delivery by independent public accountants of a comfort letter or
      comfort letters). In addition, the Company shall be responsible for all of
      its
      internal expenses incurred in connection with the consummation of the
      transactions contemplated by this Agreement (including, without limitation,
      all
      salaries and expenses of its officers and employees performing legal or
      accounting duties), the expense of any annual audit, the fees and expenses
      incurred in connection with the listing of the Registrable Securities on any
      securities exchange if required hereunder. The Company shall not be responsible
      for any discounts, commissions, transfer taxes or other similar fees incurred
      by
      the Holders in connection with the sale of the Registrable Securities. The
      Company acknowledges that nothing contained herein and no action taken by any
      Holder pursuant hereto or thereto, shall be deemed to constitute the Holders
      as
      a partnership, an association, a joint venture or any other kind of entity,
      or
      create a presumption that the Holders are in any way acting in concert or as
      a
      group with respect to such obligations or the transactions contemplated by
      the
      Transaction Documents.

     

    
      
         

      

      
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              5.

            	
              Indemnification.

            

    

     

    (a) Indemnification
      by the Company.
      The
      Company shall, notwithstanding any termination of this Agreement, indemnify
      and
      hold harmless each Holder, the officers, directors, managers, partners, members,
      shareholders, agents, brokers, investment advisors and employees of each of
      them, each Person who controls any such Holder (within the meaning of Section
      15
      of the Securities Act or Section 20 of the Exchange Act) and the officers,
      directors, agents and employees of each such controlling Person, to the fullest
      extent permitted by applicable law, from and against any and all losses, claims,
      damages, liabilities, costs (including, without limitation, costs of preparation
      and attorneys’ fees) and expenses (collectively, “Losses”),
      as
      incurred, arising out of or relating to any violation of securities laws or
      untrue or alleged untrue statement of a material fact contained in any
      Registration Statement, any Prospectus or any form of prospectus or in any
      amendment or supplement thereto or in any preliminary prospectus, or arising
      out
      of or relating to any omission or alleged omission of a material fact required
      to be stated therein or necessary to make the statements therein (in the case
      of
      any Prospectus or form of prospectus or supplement thereto, in the light of
      the
      circumstances under which they were made) not misleading, except to the extent,
      but only to the extent, that such untrue statements or omissions are based
      solely upon information regarding such Holder or such other Indemnified Party
      furnished in writing to the Company by such Holder expressly for use therein.
      The Company shall notify the Holders promptly of the institution, threat or
      assertion of any Proceeding of which the Company is aware in connection with
      the
      transactions contemplated by this Agreement.

     

    (b) Indemnification
      by Holders.
      Each
      Holder shall, severally and not jointly, indemnify and hold harmless the
      Company, its directors, officers, agents and employees, each Person who controls
      the Company (within the meaning of Section 15 of the Securities Act and Section
      20 of the Exchange Act), and the directors, officers, agents and employees
      of
      such controlling Persons, to the fullest extent permitted by applicable law,
      from and against all Losses (as determined by a court of competent jurisdiction
      in a final judgment not subject to appeal or review), as incurred, arising
      solely out of or based solely upon any untrue statement of a material fact
      contained in any Registration Statement, any Prospectus, or any form of
      prospectus, or in any amendment or supplement thereto, or arising solely out
      of
      or based solely upon any omission of a material fact required to be stated
      therein or necessary to make the statements therein (in the case of any
      Prospectus or form of prospectus or supplement thereto, in the light of the
      circumstances under which they were made) not misleading, to the extent, but
      only to the extent, that such untrue statement or omission is contained in
      any
      information so furnished in writing by such Holder or other Indemnifying Party
      to the Company specifically for inclusion in any Registration Statement or
      such
      Prospectus. Notwithstanding anything to the contrary contained herein, each
      Holder shall be liable under this Section 5(b) for only that amount as does
      not
      exceed the net proceeds to such Holder as a result of the sale of Registrable
      Securities pursuant to such Registration Statement.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    (c) Conduct
      of Indemnification Proceedings.
      If any
      Proceeding shall be brought or asserted against any Person entitled to indemnity
      hereunder (an “Indemnified
      Party”),
      such
      Indemnified Party promptly shall notify the Person from whom indemnity is sought
      (the “Indemnifying
      Party”)
      in
      writing, and the Indemnifying Party shall be entitled to assume the defense
      thereof, including the employment of counsel reasonably satisfactory to the
      Indemnified Party and the payment of all fees and expenses incurred in
      connection with defense thereof; provided, that the failure of any Indemnified
      Party to give such notice shall not relieve the Indemnifying Party of its
      obligations or liabilities pursuant to this Agreement, except (and only) to
      the
      extent that it shall be finally determined by a court of competent jurisdiction
      (which determination is not subject to appeal or further review) that such
      failure shall have proximately and materially adversely prejudiced the
      Indemnifying Party.

     

    An
      Indemnified Party shall have the right to employ separate counsel in any such
      Proceeding and to participate in the defense thereof, but the fees and expenses
      of such counsel shall be at the expense of such Indemnified Party or Parties
      unless: (1) the Indemnifying Party has agreed in writing to pay such fees and
      expenses; or (2) the Indemnifying Party shall have failed promptly to assume
      the
      defense of such Proceeding and to employ counsel reasonably satisfactory to
      such
      Indemnified Party in any such Proceeding; or (3) the named parties to any such
      Proceeding (including any impleaded parties) include both such Indemnified
      Party
      and the Indemnifying Party, and such parties shall have been advised by counsel
      that a conflict of interest is likely to exist if the same counsel were to
      represent such Indemnified Party and the Indemnifying Party (in which case,
      if
      such Indemnified Party notifies the Indemnifying Party in writing that it elects
      to employ separate counsel at the expense of the Indemnifying Party, the
      Indemnifying Party shall not have the right to assume the defense thereof and
      such counsel shall be at the expense of the Indemnifying Party). The
      Indemnifying Party shall not be liable for any settlement of any such Proceeding
      effected without its written consent, which consent shall not be unreasonably
      withheld or delayed. No Indemnifying Party shall, without the prior written
      consent of the Indemnified Party, effect any settlement of any pending or
      threatened Proceeding in respect of which any Indemnified Party is a party
      and
      indemnity has been sought hereunder, unless such settlement includes an
      unconditional release of such Indemnified Party from all liability on claims
      that are the subject matter of such Proceeding.

     

    All
      fees
      and expenses of the Indemnified Party (including reasonable fees and expenses
      to
      the extent incurred in connection with investigating or preparing to defend
      such
      Proceeding in a manner not inconsistent with this Section) shall be paid to
      the
      Indemnified Party, as incurred, within ten (10) Business Days of written notice
      thereof to the Indemnifying Party (regardless of whether it is ultimately
      determined that an Indemnified Party is not entitled to indemnification
      hereunder; provided,
      that
      the Indemnified Party shall reimburse all such fees and expenses to the extent
      it is finally judicially determined that such Indemnified Party is not entitled
      to indemnification hereunder).

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    (d) Contribution.
      If a
      claim for indemnification under Section 5(a) or 5(b) is due but unavailable
      to
      an Indemnified Party because of a failure or refusal of a governmental authority
      to enforce such indemnification in accordance with its terms (by reason of
      public policy or otherwise), then each Indemnifying Party, in lieu of
      indemnifying such Indemnified Party, shall contribute to the amount paid or
      payable by such Indemnified Party as a result of such Losses, in such proportion
      as is appropriate to reflect the relative benefits received by the Indemnifying
      Party on the one hand and the Indemnified Party on the other from the offering
      of the Preferred Stock and the Warrants. If, but only if, the allocation
      provided by the foregoing sentence is not permitted by applicable law, the
      allocation of contribution shall be made in such proportion as is appropriate
      to
      reflect not only the relative benefits referred to in the foregoing sentence
      but
      also the relative fault, as applicable, of the Indemnifying Party and
      Indemnified Party in connection with the actions, statements or omissions that
      resulted in such Losses as well as any other relevant equitable considerations.
      The relative fault of such Indemnifying Party and Indemnified Party shall be
      determined by reference to, among other things, whether any action in question,
      including any untrue or alleged untrue statement of a material fact or omission
      or alleged omission of a material fact, has been taken or made by, or relates
      to
      information supplied by, such Indemnifying Party or Indemnified Party, and
      the
      parties’ relative intent, knowledge, access to information and opportunity to
      correct or prevent such action, statement or omission. The amount paid or
      payable by a party as a result of any Losses shall be deemed to include, subject
      to the limitations set forth in Section 5(c), any reasonable attorneys’ or other
      reasonable fees or expenses incurred by such party in connection with any
      Proceeding to the extent such party would have been indemnified for such fees
      or
      expenses if the indemnification provided for in this Section was available
      to
      such party in accordance with its terms. In no event shall any selling Holder
      be
      required to contribute an amount under this Section 5(d) in excess of the net
      proceeds received by such Holder upon the sale of such Holder’s Registrable
      Securities pursuant to a Registration Statement giving rise to such contribution
      obligation.

     

    The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 5(d) were determined by pro rata allocation or by
      any
      other method of allocation that does not take into account the equitable
      considerations referred to in the immediately preceding paragraph. No Person
      guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
      of
      the Securities Act) shall be entitled to contribution from any Person who was
      not guilty of such fraudulent misrepresentation.

     

    The
      indemnity and contribution agreements contained in this Section are in addition
      to any liability that the Indemnifying Parties may have to the Indemnified
      Parties pursuant to the law.

     

    
      	 	
              6.

            	
              Rule
                144.

            

    

     

    As
      long
      as any Holder owns Preferred Stock, Warrants or Registrable Securities, the
      Company covenants to timely file (or obtain extensions in respect thereof and
      file within the applicable grace period) all reports required to be filed by
      the
      Company after the date hereof pursuant to Section 13(a) or 15(d) of the Exchange
      Act. As long as any Holder owns Preferred Stock, Warrants or Registrable
      Securities, if the Company is not required to file reports pursuant to Section
      13(a) or 15(d) of the Exchange Act, it will prepare and furnish to the Holders
      and make publicly available in accordance with Rule 144(c) promulgated under
      the
      Securities Act annual and quarterly financial statements, together with a
      discussion and analysis of such financial statements in form and substance
      substantially similar to those that would otherwise be required to be included
      in reports required by Section 13(a) or 15(d) of the Exchange Act, as well
      as
      any other information required thereby, in the time period that such filings
      would have been required to have been made under the Exchange Act. The Company
      further covenants that it will take such further action as any Holder may
      reasonably request, all to the extent required from time to time to enable
      such
      Person to sell Registrable Securities without registration under the Securities
      Act within the limitation of the exemptions provided by Rule 144 promulgated
      under the Securities Act, including providing any legal opinions reasonably
      requested relating to such sale pursuant to Rule 144 within five (5) Business
      Days from the date of such request. Upon the request of any Holder, the Company
      shall deliver to such Holder a written certification of a duly authorized
      officer as to whether it has complied with such requirements.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    
      	 	
              7.

            	
              Selling
                Holder Questionnaire.

            

    

     

    Each
      Holder agrees to furnish to the Company a completed Questionnaire in the form
      attached to this Agreement as Exhibit B (a “Selling Holder Questionnaire”) in
      connection with the execution of this Agreement and prior to the filing of
      each
      Registration Statement required hereunder. The Company shall not be required
      to
      include the Registrable Securities of a Holder in a Registration Statement
      and
      shall not be required to pay any liquidated or other damages hereunder to any
      Holder who fails to furnish to the Company a fully completed Selling Holder
      Questionnaire within five (5) Business Days of a request therefore by the
      Company

     

    
      	 	
              8.

            	
              Miscellaneous.

            

    

     

    (a) Remedies.
      In the
      event of a breach by the Company or by a Holder, of any of their obligations
      under this Agreement, such Holder or the Company, as the case may be, in
      addition to being entitled to exercise all rights granted by law and under
      this
      Agreement, including recovery of damages, will be entitled to specific
      performance of its rights under this Agreement. The Company and each Holder
      agree that monetary damages would not provide adequate compensation for any
      losses incurred by reason of a breach by it of any of the provisions of this
      Agreement and hereby further agrees that, in the event of any action for
      specific performance in respect of such breach, it shall waive the defense
      that
      a remedy at law would be adequate.

     

    (b) No
      Inconsistent Agreements.
      Neither
      the Company nor any of its subsidiaries has, as of the date hereof entered
      into
      and currently in effect, nor shall the Company or any of its subsidiaries,
      on or
      after the date of this Agreement, enter into any agreement with respect to
      its
      securities that is inconsistent with the rights granted to the Holders in this
      Agreement or otherwise conflicts with the provisions hereof. Neither the Company
      nor any of its subsidiaries has previously entered into any agreement currently
      in effect granting any registration rights with respect to any of its securities
      to any Person. Without limiting the generality of the foregoing, without the
      written consent of the Holders of a majority of the then outstanding Registrable
      Securities, the Company shall not grant to any Person the right to request
      the
      Company to register any securities of the Company under the Securities Act
      unless the rights so granted are subject in all respects to the prior rights
      in
      full of the Holders set forth herein, and are not otherwise in conflict with
      the
      provisions of this Agreement.

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

    (c) No
      Piggyback on Registrations.
      Neither
      the Company nor any of its security holders (other than the Holders in such
      capacity pursuant hereto or holders of issued and outstanding securities of
      the
      Company immediately prior to the Share Exchange Transaction) may include
      securities of the Company in any Registration Statement, and the Company shall
      not after the date hereof enter into any agreement providing such right to
      any
      of its securityholders, unless the right so granted is subject in all respects
      to the prior rights in full of the Holders set forth herein, and is not
      otherwise in conflict with the provisions of this Agreement.

     

    (d) Piggy-Back
      Registrations.
      If at
      any time when there is not an effective Registration Statement providing for
      the
      resale of the Remaining Registrable Securities, the Company shall determine
      to
      prepare and file with the Commission a registration statement relating to an
      offering for its own account or the account of others under the Securities
      Act
      of any of its equity securities, other than on Form S-4 or Form S-8 (each as
      promulgated under the Securities Act) or their then equivalents relating to
      equity securities to be issued solely in connection with any acquisition of
      any
      entity or business or equity securities issuable in connection with stock option
      or other employee benefit plans, the Company shall send to each holder of
      Remaining Registrable Securities written notice of such determination and,
      if
      within thirty (30) days after receipt of such notice, or within such shorter
      period of time as may be specified by the Company in such written notice as
      may
      be necessary for the Company to comply with its obligations with respect to
      the
      timing of the filing of such registration statement, any such holder shall
      so
      request in writing, (which request shall specify the Remaining Registrable
      Securities intended to be disposed of by the Holders), the Company will cause
      the registration under the Securities Act of all Remaining Registrable
      Securities which the Company has been so requested to register by the holder,
      to
      the extent requisite to permit the disposition of the Remaining Registrable
      Securities so to be registered, provided that if at any time after giving
      written notice of its intention to register any securities and prior to the
      effective date of the registration statement filed in connection with such
      registration, the Company shall determine for any reason not to register or
      to
      delay registration of such securities, the Company may, at its election, give
      written notice of such determination to such holder and, thereupon, (i) in
      the
      case of a determination not to register, shall be relieved of its obligation
      to
      register any Remaining Registrable Securities in connection with such
      registration (but not from its obligation to pay expenses in accordance with
      Section 4 hereof), and (ii) in the case of a determination to delay registering,
      shall be permitted to delay registering any Remaining Registrable Securities
      being registered pursuant to this Section 8(d) for the same period as the delay
      in registering such other securities. The Company shall include in such
      registration statement all or any part of such Remaining Registrable Securities
      such holder requests to be registered. In the case of an underwritten public
      offering, if the managing underwriter(s) or underwriter(s) should reasonably
      object to the inclusion of the Remaining Registrable Securities in such
      registration statement, then if the Company after consultation with the managing
      underwriter should reasonably determine that the inclusion of such Remaining
      Registrable Securities would materially adversely affect the offering
      contemplated in such registration statement, and based on such determination
      recommends inclusion in such registration statement of fewer or none of the
      Remaining Registrable Securities of the Holders, then (x) the number of
      Remaining Registrable Securities of the Holders included in such registration
      statement shall be reduced pro-rata among such Holders (based upon the number
      of
      Remaining Registrable Securities requested to be included in the registration),
      if the Company after consultation with the underwriter(s) recommends the
      inclusion of fewer Remaining Registrable Securities, or (y) none of the
      Remaining Registrable Securities of the Holders shall be included in such
      registration statement, if the Company after consultation with the
      underwriter(s) recommends the inclusion of none of such Remaining Registrable
      Securities; provided,
      however,
      that if
      securities are being offered for the account of other persons or entities as
      well as the Company, such reduction shall not represent a greater fraction
      of
      the number of Remaining Registrable securities intended to be offered by the
      Holders than the fraction of similar reductions imposed on such other persons
      or
      entities (other than the Company).

     

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

     

    (e) Until
      all
      of the Registrable Securities have been covered by an effective Registration
      Statement providing for the resale of the Registrable Securities, the Company
      shall not without first obtaining the approval (by vote or written consent,
      as
      provided by law) of the holders of at least fifty-one percent (51%) of the then
      outstanding shares of Preferred Stock, voting as a separate class file any
      registration statement (other than on Form S-8) covering the sale of any
      securities other than Registrable Securities; provided, however, that if there
      has been an effective Registration Statement for Registrable Securities, the
      Company may, without such consent file an additional Registration Statement
      more
      than 18 months after the initial issuance of the Preferred Stock.

     

    (f) Failure
      to File Registration Statement and Other Events.
      The
      Company and the Holders agree that the Holders will suffer damages if a
      Registration Statement is not filed on or prior to the Filing Date or any
      Additional Filing Date, as applicable, or after notice from the Holders, as
      set
      forth in Section 2(b) hereto or Section 2A(b) hereto, and, in each case, not
      declared effective by the Commission on or prior to the applicable Effectiveness
      Date and maintained in the manner contemplated herein during the applicable
      Effectiveness Period or if certain other events occur. The Company and the
      Holders further agree that it would not be feasible to ascertain the extent
      of
      such damages with precision. Accordingly, if (A) a Registration Statement is
      not
      filed on or prior to the Filing Date, any Additional Filing Date or after notice
      from the Holders, as set forth in Section 2(b) hereof or Section 2A(b) hereof,
      or (B)  a Registration Statement is not declared effective by the
      Commission on or prior to the applicable Effectiveness Date, or (C) the Company
      fails to file with the Commission a request for acceleration in accordance
      with
      Rule 461 promulgated under the Securities Act within three (3) Business Days
      of
      the date that the Company is notified (orally or in writing, whichever is
      earlier) by the Commission that a Registration Statement will not be “reviewed,”
or not subject to further review, or (D) any Registration Statement is filed
      with and declared effective by the Commission but thereafter ceases to be
      effective as to all Registrable Securities at any time prior to the expiration
      of the Effectiveness Period, without being succeeded immediately by a subsequent
      Registration Statement filed with and declared effective by the Commission,
      or
      (E) the Company has breached Section 3(n), or (F) trading in the Common Stock
      shall be suspended or if the Common Stock is no longer quoted on or is delisted
      from the OTC Bulletin Board (or other principal exchange on which the Common
      Stock is listed or traded) for any reason for more than three (3) Business
      Days
      in the aggregate (any such failure or breach being referred to as an
“Event,”
and
      for purposes of clauses (A) and (B) the date on which such Event occurs, or
      for
      purposes of clause (C) the date on which such three (3) Business Day period
      is
      exceeded, or for purposes of clause (D) after more than fifteen (15) Business
      Days, or for purposes of clause (F) the date on which such three (3) Business
      Day period is exceeded, being referred to as “Event
      Date”),
      the
      Company shall pay an amount in cash as liquidated damages to each Holder equal
      to one percent (1%) of the amount of the Holder’s remaining initial investment
      in the Units for each calendar month or portion thereof thereafter from the
      Event Date until the applicable Event is cured; provided,
      however,
      that in
      no event shall the amount of liquidated damages payable at any time and from
      time to time to any Holder pursuant to this Section 8(e) exceed an aggregate
      of
      ten percent (10%) of the amount of the Holder’s remaining initial investment in
      the Units; and provided,
      further,
      that
      notwithstanding the foregoing, in the event the Commission does not permit
      all
      of the Registrable Securities to be included in a Registration Statement because
      of its application of Rule 415, no liquidated damages shall be payable pursuant
      to this Section by the Company with respect to any Registrable Securities that
      the Company was not permitted to include on such Registration Statement.
      Notwithstanding anything to the contrary in this paragraph (e), if (a) any
      of
      the Events described in clauses (A), (B), (C), (D) or (F) shall have occurred,
      (b) on or prior to the applicable Event Date, the Company shall have exercised
      its rights under Section 3(n) hereof and (c) the postponement or suspension
      permitted pursuant to such Section 3(n) shall remain effective as of such
      applicable Event Date, then the applicable Event Date shall be deemed instead
      to
      occur on the second Business Day following the termination of such postponement
      or suspension. Liquidated damages payable by the Company pursuant to this
      Section 8(e) shall be payable on the first (1st) Business Day of each thirty
      (30) day period following the Event Date. The parties agree that the liquidated
      damages set forth in this Section 8(e) shall be the exclusive remedy of the
      parties hereto with respect to the breaches by the Company of this Section
      8(e).

     

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

     

    (g) Amendments
      and Waivers.
      The
      provisions of this Agreement, including the provisions of this sentence, may
      not
      be amended, modified or supplemented, and waivers or consents to departures
      from
      the provisions hereof may not be given, unless the same shall be in writing
      and
      signed by the Company and the Holders of a majority of the Registrable
      Securities outstanding.

     

    (h) Notices.
      Any
      notice, demand, request, waiver or other communication required or permitted
      to
      be given hereunder shall be in writing and shall be effective (a) upon hand
      delivery, telecopy or facsimile at the address or number designated below (if
      delivered on a business day during normal business hours where such notice
      is to
      be received), or the first business day following such delivery (if delivered
      other than on a business day during normal business hours where such notice
      is
      to be received) or (b) on the second business day following the date of mailing
      by express courier service, fully prepaid, addressed to such address, or upon
      actual receipt of such mailing, whichever shall first occur. The addresses
      for
      such communications shall be:

     

    
      	
              If
                to the Company: 

            	
              Mr.
                Chen Zhong

              Aamaxan
                Transport Group, Inc.

              2a,
                2b, No.8 Building No. 200 Newton Road

              Zhangjang
                High-Tech Park

              Shanghai

            

    

     

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

     

    
      	 	
              People’s
                Republic of China

              Tel.
                No.: 86-21-508-05-789

              Fax
                No.: 86-21-508-02-149

            
	 	 
	
              with
                copies (which copies

              shall
                not constitute notice)

              to:

            	
              Guzov
                Ofsink, LLC

              600
                Madison Avenue, 14th Floor

              New
                York, New York 10022

              Attention:
                Darren Ofsink

              Tel.
                No.: (212) 371-8008, ext. 102

              Fax
                No.: (212) 688-7273

            
	 	 
	
              If
                to any Purchaser:

            	
              At
                the address of such Purchaser set 

              forth
                on Exhibit A to the Securities Purchase Agreement or as specified
                in
                writing by such Purchaser 

            
	 	 
	
              with
                copies (which copies

              shall
                not constitute notice)

              to:

            	
              Wells
                Moore Simmons & Hubbard PLLC 

              P.O.
                Box 1970

              Jackson,
                MS 39215-1970

              Attention.:
                Nash Neyland

              Phone:(601)
                354-5400

              Fax:
                (601) 355-5850

            

    

     

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

     

    (i) Successors
      and Assigns.
      This
      Agreement shall be binding upon and inure to the benefit of the parties and
      their successors and permitted assigns and shall inure to the benefit of each
      Holder and its successors and assigns. The Company may not assign this Agreement
      or any of its rights or obligations hereunder without the prior written consent
      of each Holder. Each Purchaser may assign its rights hereunder in the manner
      and
      to the Persons as permitted under the Purchase Agreement.

     

    (j) Assignment
      of Registration Rights.
      The
      rights of each Holder hereunder, including the right to have the Company
      register for resale Registrable Securities in accordance with the terms of
      this
      Agreement, shall be automatically assignable by each Holder to any Person to
      whom all or a portion of the Preferred Stock, the Warrants or the Registrable
      Securities are transferred if: (i) the Holder agrees in writing with the
      transferee or assignee to assign such rights, and a copy of such agreement
      is
      furnished to the Company within a reasonable time after such assignment, (ii)
      the Company is, within a reasonable time after such transfer or assignment,
      furnished with written notice of (a) the name and address of such transferee
      or
      assignee, and (b) the securities with respect to which such registration rights
      are being transferred or assigned, (iii) following such transfer or assignment
      the further disposition of such securities by the transferee or assignees is
      restricted under the Securities Act and applicable state securities laws unless
      such securities are registered in a Registration Statement under this Agreement
      (in which case the Company shall be obligated to amend such Registration
      Statement to reflect such transfer or assignment) or are otherwise exempt from
      registration, (iv) at or before the time the Company receives the written notice
      contemplated by clause (ii) of this Section, the transferee or assignee agrees
      in writing with the Company to be bound by all of the provisions of this
      Agreement, and (v) such transfer shall have been made in accordance with the
      applicable requirements of the Purchase Agreement. The rights to assignment
      shall apply to the Holders (and to subsequent) successors and
      assigns.

     

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

     

    (k) Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed shall be deemed to be an original and, all of which taken together
      shall constitute one and the same Agreement and shall become effective when
      counterparts have been signed by each party and delivered to the other parties
      hereto, it being understood that all parties need not sign the same counterpart.
      In the event that any signature is delivered by facsimile transmission, such
      signature shall create a valid binding obligation of the party executing (or
      on
      whose behalf such signature is executed) the same with the same force and effect
      as if such facsimile signature were the original thereof.

     

    (l) Governing
      Law; Jurisdiction.
      This
      Agreement shall be governed by and construed in accordance with the internal
      laws of the State of New York, without giving effect to any of the conflicts
      of
      law principles which would result in the application of the substantive law
      of
      another jurisdiction. This Agreement shall not be interpreted or construed
      with
      any presumption against the party causing this Agreement to be drafted. The
      Company and the Holders agree that venue for any dispute arising under this
      Agreement will lie exclusively in the state or federal courts located in New
      York County, New York, and the parties irrevocably waive any right to raise
      forum
      non conveniens
      or any
      other argument that New York is not the proper venue. The Company and the
      Holdersirrevocably consent to personal jurisdiction in the state and federal
      courts of the state of New York. The Company and the Holders consent to process
      being served in any such suit, action or proceeding by mailing a copy thereof
      to
      such party at the address in effect for notices to it under this Agreement
      and
      agrees that such service shall constitute good and sufficient service of process
      and notice thereof. Nothing in this Section 8(k) shall affect or limit any
      right
      to serve process in any other manner permitted by law. The Company and the
      Holders hereby agree that the prevailing party in any suit, action or proceeding
      arising out of or relating to this Agreement or the Purchase Agreement, shall
      be
      entitled to reimbursement for reasonable legal fees from the non-prevailing
      party. The parties hereby waive all rights to a trial by jury.

     

    (m) Cumulative
      Remedies.
      The
      remedies provided herein are cumulative and not exclusive of any remedies
      provided by law.

     

    (n) Severability.
      If any
      term, provision, covenant or restriction of this Agreement is held to be
      invalid, illegal, void or unenforceable in any respect, the remainder of the
      terms, provisions, covenants and restrictions set forth herein shall remain
      in
      full force and effect and shall in no way be affected, impaired or invalidated,
      and the parties hereto shall use their reasonable efforts to find and employ
      an
      alternative means to achieve the same or substantially the same result as that
      contemplated by such term, provision, covenant or restriction. It is hereby
      stipulated and declared to be the intention of the parties that they would
      have
      executed the remaining terms, provisions, covenants and restrictions without
      including any of such that may be hereafter declared invalid, illegal, void
      or
      unenforceable.

     

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

     

    (o) Headings.
      The
      headings herein are for convenience only, do not constitute a part of this
      Agreement and shall not be deemed to limit or affect any of the provisions
      hereof.

     

    (p) Shares
      Held by the Company and its Affiliates.
      Whenever the consent or approval of Holders of a specified percentage of
      Registrable Securities is required hereunder, Registrable Securities held by
      the
      Company or its Affiliates (other than any Holder or transferees or successors
      or
      assigns thereof if such Holder is deemed to be an Affiliate solely by reason
      of
      its holdings of such Registrable Securities) shall not be counted in determining
      whether such consent or approval was given by the Holders of such required
      percentage.

     

    (q) Independent
      Nature of Purchasers.
      The
      Company acknowledges that the obligations of each Purchaser under the
      Transaction Documents are several and not joint with the obligations of any
      other Purchaser, and no Purchaser shall be responsible in any way for the
      performance of the obligations of any other Purchaser under the Transaction
      Documents. The Company acknowledges that the decision of each Purchaser to
      purchase Securities pursuant to the Purchase Agreement has been made by such
      Purchaser independently of any other Purchaser and independently of any
      information, materials, statements or opinions as to the business, affairs,
      operations, assets, properties, liabilities, results of operations, condition
      (financial or otherwise) or prospects of the Company or of its Subsidiaries
      which may have made or given by any other Purchaser or by any agent or employee
      of any other Purchaser, and no Purchaser or any of its agents or employees
      shall
      have any liability to any Purchaser (or any other person) relating to or arising
      from any such information, materials, statements or opinions. The Company
      acknowledges that nothing contained herein, or in any Transaction Document,
      and
      no action taken by any Purchaser pursuant hereto or thereto (including, but
      not
      limited to, the (i) inclusion of a Purchaser in a Registration Statement and
      (ii) review by, and consent to, such Registration Statement by a Purchaser)
      shall be deemed to constitute the Purchasers as a partnership, an association,
      a
      joint venture or any other kind of entity, or create a presumption that the
      Purchasers are in any way acting in concert or as a group with respect to such
      obligations or the transactions contemplated by the Transaction Documents.
      The
      Company acknowledges that each Purchaser shall be entitled to independently
      protect and enforce its rights, including without limitation, the rights arising
      out of this Agreement or out of the other Transaction Documents, and it shall
      not be necessary for any other Purchaser to be joined as an additional party
      in
      any proceeding for such purpose. The Company acknowledges that for reasons
      of
      administrative convenience only, the Transaction Documents have been reviewed
      by
      counsel for Pope Investments II, LLC and such counsel does not represent any
      of
      the other Purchasers. The Company acknowledges that it has elected to provide
      all Purchasers with the same terms and Transaction Documents for the convenience
      of the Company and not because it was required or requested to do so by the
      Purchasers. The Company acknowledges that such procedure with respect to the
      Transaction Documents in no way creates a presumption that the Purchasers are
      in
      any way acting in concert or as a group with respect to the Transaction
      Documents or the transactions contemplated hereby or thereby.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
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    IN
      WITNESS WHEREOF, the parties hereto have caused this Registration Rights
      Agreement to be duly executed by their respective authorized persons as of
      the
      date first indicated above.

    

      
        	 	
                AAMAXAN
                  TRANSPORT GROUP, INC.

              
	 	 
	 	
                By:

              	 
	 	 	
                Name:

              
	 	 	
                Title:

              
	 	 
	 	
                PURCHASER

              
	 	 
	 	
                By:

              	 
	 	 	
                Name:

              
	 	 	
                Title:

              

      

    

     

    
      
         

      

      
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    Schedule
      I

    Purchasers

     

    
      	
               

              Investor

            	 	
               

              Investment

            	 	
               

              Units

              Purchased

            	 	
               

              Shares of

              Preferred

              Stock

            	 	
               

              Series A

              Warrants

            	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 

    

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

     

    Schedule
      II

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    Exhibit
      A

    Plan
      of Distribution

     

    The
      selling security holders and any of their pledgees, donees, assignees and
      successors-in-interest may, from time to time, sell any or all of their shares
      of common stock being offered under this prospectus on any stock exchange,
      market or trading facility on which shares of our common stock are traded or
      in
      private transactions. These sales may be at fixed or negotiated prices. The
      selling security holders may use any one or more of the following methods when
      disposing of shares:

     

    
      	 	
              ·

            	
              ordinary
                brokerage transactions and transactions in which the broker-dealer
                solicits purchasers;

            

    

     

    
      	 	
              ·

            	
              block
                trades in which the broker-dealer will attempt to sell the shares
                as agent
                but may position and resell a portion of the block as principal to
                facilitate the transaction;

            

    

     

    
      	 	
              ·

            	
              purchases
                by a broker-dealer as principal and resales by the broker-dealer
                for its
                account;

            

    

     

    
      	 	
              ·

            	
              an
                exchange distribution in accordance with the rules of the applicable
                exchange;

            

    

     

    
      	 	
              ·

            	
              privately
                negotiated transactions;

            

    

     

    
      	 	
              ·

            	
              to
                cover short sales made after the date that the registration statement
                of
                which this prospectus is a part is declared effective by the
                Commission;

            

    

     

    
      	 	
              ·

            	
              broker-dealers
                may agree with the selling security holders to sell a specified number
                of
                such shares at a stipulated price per
                share;

            

    

     

    
      	 	
              ·

            	
              a
                combination of any of these methods of sale;
                and

            

    

     

    
      	 	
              ·

            	
              any
                other method permitted pursuant to applicable
                law.

            

    

     

    The
      shares may also be sold under Rule 144 under the Securities Act of 1933, as
      amended (“Securities Act”), if available, rather than under this prospectus. The
      selling security holders have the sole and absolute discretion not to accept
      any
      purchase offer or make any sale of shares if they deem the purchase price to
      be
      unsatisfactory at any particular time.

     

    The
      selling security holders may pledge their shares to their brokers under the
      margin provisions of customer agreements. If a selling security holder defaults
      on a margin loan, the broker may, from time to time, offer and sell the pledged
      shares.

     

    Broker-dealers
      engaged by the selling security holders may arrange for other broker-dealers
      to
      participate in sales. Broker-dealers may receive commissions or discounts from
      the selling security holders (or, if any broker-dealer acts as agent for the
      purchaser of shares, from the purchaser) in amounts to be negotiated, which
      commissions as to a particular broker or dealer may be in excess of customary
      commissions to the extent permitted by applicable law.

     

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

     

    If
      sales
      of shares offered under this prospectus are made to broker-dealers as
      principals, we would be required to file a post-effective amendment to the
      registration statement of which this prospectus is a part. In the post-effective
      amendment, we would be required to disclose the names of any participating
      broker-dealers and the compensation arrangements relating to such
      sales.

     

    The
      selling security holders and any broker-dealers or agents that are involved
      in
      selling the shares offered under this prospectus may be deemed to be
“underwriters” within the meaning of the Securities Act in connection with these
      sales. Commissions received by these broker-dealers or agents and any profit
      on
      the resale of the shares purchased by them may be deemed to be underwriting
      commissions or discounts under the Securities Act. Any broker-dealers or agents
      that are deemed to be underwriters may not sell shares offered under this
      prospectus unless and until we set forth the names of the underwriters and
      the
      material details of their underwriting arrangements in a supplement to this
      prospectus or, if required, in a replacement prospectus included in a
      post-effective amendment to the registration statement of which this prospectus
      is a part.

     

    The
      selling security holders and any other persons participating in the sale or
      distribution of the shares offered under this prospectus will be subject to
      applicable provisions of the Exchange Act, and the rules and regulations under
      that act, including Regulation M. These provisions may restrict activities
      of,
      and limit the timing of purchases and sales of any of the shares by, the selling
      security holders or any other person. Furthermore, under Regulation M, persons
      engaged in a distribution of securities are prohibited from simultaneously
      engaging in market making and other activities with respect to those securities
      for a specified period of time prior to the commencement of such distributions,
      subject to specified exceptions or exemptions. All of these limitations may
      affect the marketability of the shares.

     

    If
      any of
      the shares of common stock offered for sale pursuant to this prospectus are
      transferred other than pursuant to a sale under this prospectus, then subsequent
      holders could not use this prospectus until a post-effective amendment or
      prospectus supplement is filed, naming such holders. We offer no assurance
      as to
      whether any of the selling security holders will sell all or any portion of
      the
      shares offered under this prospectus.

     

    We
      have
      agreed to pay all fees and expenses we incur incident to the registration of
      the
      shares being offered under this prospectus. However, each selling security
      holder and purchaser is responsible for paying any discounts, commissions and
      similar selling expenses they incur.

     

    We
      and
      the selling security holders have agreed to indemnify one another against
      certain losses, damages and liabilities arising in connection with this
      prospectus, including liabilities under the Securities Act.

    
      
         

      

      
        25

        
          

        

      

      
         

      

    

    Exhibit
      B

     

    Selling
      Securityholder Notice and Questionnaire

     

    The
      undersigned beneficial owner of common stock (the “Common
      Stock”),
      of
      AAMAXAN TRANSPORT GROUP, INC., a Delaware corporation (the “Company”),
      understands that the Company has filed or intends to file with the Securities
      and Exchange Commission (the “Commission”)
      a
      Registration Statement for the registration and resale of the Registrable
      Securities, in accordance with the terms of the Registration Rights Agreement,
      dated as of April 14, 2008 (the “Registration
      Rights Agreement”),
      among
      the Company and the Investors named therein. A copy of the Registration Rights
      Agreement is available from the Company upon request at the address set forth
      below. All capitalized terms used and not otherwise defined herein shall have
      the meanings ascribed thereto in the Registration Rights Agreement.

     

    The
      undersigned hereby provides the following information to the Company and
      represents and warrants that such information is accurate:

     

    QUESTIONNAIRE

     

    
      	1.	
              Name.

            

    

     

    
      	 	
              (a)

            	
              Full
                Legal Name of Selling
                Securityholder

            

    

     

    
      	 

    

    

    
      	 	
              (b)

            	
              Full
                Legal Name of Registered Holder (if not the same as (a) above) through
                which Registrable Securities Listed in Item 3 below are
                held:

            

    

     

    
      	 

    

    

    
      	 	
              (c)

            	
              Full
                Legal Name of Natural Control Person (which means a natural person
                who
                directly or indirectly alone or with others has power to vote or
                dispose
                of the securities covered by the
                questionnaire):

            

    

     

    
      	 

    

     

    
      	2.	
              Address
                for Notices to Selling
                Securityholder:

            

    

     

    
      	 
	 
	 
	
              Telephone:________________________________________________________________________________________________

            
	
              Fax:_____________________________________________________________________________________________________

            
	
              Contact
                Person:____________________________________________________________________________________________

            

    

    

    
      
         

      

      
        26

        
          

        

      

      
         

      

    

     

    
      	3.	
              Beneficial
                Ownership of Registrable
                Securities:

            

    

     

    
      	 	 	
              Type
                and Principal Amount of Registrable Securities beneficially
                owned:

            

    

     

    
      	 
	 
	 

    

     

    
      	4.	
              Broker-Dealer
                Status:

            

    

     

    
      	 	
              (a)

            	
              Are
                you a broker-dealer?

            

    

     

    Yes
       ̈  No
       ̈ 

     

    
      	 	
              Note:

            	
              If
                yes, the Commission’s staff has indicated that you may need to be
                identified as an underwriter in the Registration
                Statement.

            

    

     

    
      	 	
              (b)

            	
              Are
                you an affiliate of a
                broker-dealer?

            

    

     

    Yes
       ̈  No
       ̈ 

     

    
      	 	
              (c)

            	
              If
                you are an affiliate of a broker-dealer, do you certify that you
                bought
                the Registrable Securities in the ordinary course of business, and
                at the
                time of the purchase of the Registrable Securities to be resold,
                you had
                no agreements or understandings, directly or indirectly, with any
                person
                to distribute the Registrable
                Securities?

            

    

     

    Yes
       ̈  No
       ̈ 

     

    
      	 	
              Note:

            	
              If
                no, the Commission’s staff has indicated that you should be identified as
                an underwriter in the Registration
                Statement.

            

    

     

    
      	
              5.
                

            	
              Beneficial
                Ownership of Other Securities of the Company Owned by the Selling
                Securityholder.

            

    

     

    Except
      as set forth below in this Item 5, the undersigned is not the beneficial or
      registered owner of any securities of the Company other than the Registrable
      Securities listed above in Item 3.

     

    
      	 	 	
              Type
                and Amount of Other Securities beneficially owned by the Selling
                Securityholder:

            

    

     

    
      	 
	 

    

    

    
      
         

      

      
        27

        
          

        

      

      
         

      

    

     

    
      	6.	
              Relationships
                with the Company:

            

    

     

    Except
      as set forth below, neither the undersigned nor any of its affiliates, officers,
      directors or principal equity holders (owners of 5% of more of the equity
      securities of the undersigned) has held any position or office or has had any
      other material relationship with the Company (or its predecessors or affiliates)
      during the past three years.

     

    State
      any
      exceptions here:

     

    
      	 
	 

    

     

    7.           
      The
      Company has advised each Selling Stockholder that it may not use shares
      registered on the Registration Statement to cover short sales of Common Stock
      made prior to the date on which the Registration Statement is declared effective
      by the Commission, in accordance with 1997 Securities and Exchange Commission
      Manual of Publicly Available Telephone Interpretations Section A.65. If a
      Selling Stockholder uses the prospectus for any sale of the Common Stock, it
      will be subject to the prospectus delivery requirements of the Securities Act.
      The Selling Stockholders will be responsible to comply with the applicable
      provisions of the Securities Act and Exchange Act, and the rules and regulations
      thereunder promulgated, including, without limitation, Regulation M, as
      applicable to such Selling Stockholders in connection with resales of their
      respective shares under the Registration Statement.

     

    The
      undersigned agrees to promptly notify the Company of any inaccuracies or changes
      in the information provided herein that may occur subsequent to the date hereof
      and prior to the Effective Date for the Registration Statement.

     

    By
      signing below, the undersigned consents to the disclosure of the information
      contained herein in its answers to Items 1 through 6 and the inclusion of such
      information in the Registration Statement and the related prospectus. The
      undersigned understands that such information will be relied upon by the Company
      in connection with the preparation or amendment of the Registration Statement
      and the related prospectus.

     

    IN
      WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice
      and Questionnaire to be executed and delivered either in person or by its duly
      authorized agent.

    

      
        	
                Dated:
                  ______________________________

              	
                Beneficial
                  Owner: ___________________________________

              
	 	 
	 	
                By:

              	 
	 	 	
                Name:

              
	 	 	
                Title:

              

      

    

    

    PLEASE
      FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN
      THE ORIGINAL BY OVERNIGHT MAIL, TO:

    

    
      
         

      

      
        28

        
          

        

      

      
         

      

    

     

    Darren
      L. Ofsink, Esq.,

    Guzov
      Ofsink, LLC

    600
      Madison Avenue, 14th
      Floor

    New
      York, NY 10022

    Fax:
      (212) 688-7273

     

    
      
         

      

      
        29

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