Document:

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EXHIBIT 10.4

                            STOCK PURCHASE AGREEMENT

This stock purchase agreement is made and entered into FEBRUARY 7, 2002 by and
between OXFORD VENTURES, INC., a Nevada Corporation (the "Seller"), and BOB
FRASER and BILL GROSSHOLZ of Vancouver, B.C. (collectively, the "Buyers").

RECITALS
--------

A. Seller is the owner of all the issued and outstanding shares of VOIP
Technology Inc., a corporation organized and existing under the laws of British
Columbia, Canada, here referred to as corporation, consisting of 100 of common
shares.

B. Buyers desires to acquire, and seller desires to sell, seller's shares of
stock in the corporation pursuant to the terms of this agreement. Seller with
transfer shares as follows:

                  Name of Buyer             Number of Shares
                  -------------             ----------------

                  Bob Fraser                         50
                  Bill Grossholz                     50

Now, therefore, in consideration of the premises, their mutual covenants and
promises, and other good and valuable consideration, the receipt and sufficiency
of which is acknowledged, the parties agree as follows:

                                   SECTION ONE
                           PURCHASE AND SALE OF STOCK

Subject to the terms and conditions of this agreement, seller agrees to sell,
and buyer agrees to buy, 100 shares of the capital stock of the corporation for
the total price of One Dollar ($1.00) payable in full on the execution of this
agreement, approval of the transfer by the directors of the corporation, and
transfer of the stock certificate evidencing the shares.

                                   SECTION TWO
                     BUYER'S REPRESENTATIONS AND WARRANTIES

Buyer represents and warrants to seller that buyer is acquiring these shares of
sellers capital stock of the corporation for Buyer's own account for investment
and not with a view to, or for sale in connection with, distribution of any of
the shares and with no present intention of selling any of them. Buyer
understands that in the foreseeable future Buyer will be precluded from selling
the shares, except in private placement transaction, and that there is no
assurance the buyer will be able to locate prospective purchasers in order to
dispose of the shares even in a private placement transaction.

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                                  SECTION THREE
                                ENTIRE AGREEEMENT

This agreement constitutes the entire agreement between the parties and
supercedes any prior written or oral understandings, agreements, or conditions.
No change, modification, amendment, or addition will be valid unless it is in
writing and signed by the party against whom enforcement of any change,
modification, amendment, or addition is assigned. The terms of this agreement
will survive the transfer of seller's stock to buyer.

                                  SECTION FOUR
                            PARTIES BOUND; ASSIGNMENT

All covenants, agreements, representations, and warranties set forth in this
agreement are binding on and inure to the benefit of the successors and assigns
of the parties. The parties cannot assign this agreement or any of their rights
under this agreement except by operation of law to their personal
representatives or heirs in the event of their death, incapacity, or
dissolution, as the case may be, in which case this agreement and all of the
parties' obligations and benefits will be binding on and inure to the benefit of
the party's personal representatives, heirs and successors.

                                  SECTION FIVE
                                  GOVERNING LAW

This agreement shall be construed and enforced in accordance with the laws of
the Province of British Columbia

Dated:  February 8, 2002

FOR THE SELLER:                              FOR THE BUYERS:
Oxford Ventures, Inc.

/s/ Robert Harrison                          /s/ Bob Fraser
------------------------------------         ----------------------------------
Robert Harrison                              Bob Fraser
President

                                             /s/ Bill Grossholz
                                             ----------------------------------
                                             Bill Grossholz<PAGE>

EXHIBIT 10.5

                              VOIP TECHNOLOGY, INC.

                   10% SUBORDINATED NOTE DUE DECEMBER 1, 2003

This 10% Note (called this "Note") is dated November 21, 2001.

Borrower:         VOIP Technology, Inc.

Address:          50 West Liberty Street, Suite 880
                  Reno, Nevada  89501

The word "Borrower" means the original Borrower and anyone else who merges with
the Borrower or assumes the Borrower's obligations under this Note. However, the
assumption of the Borrower's obligations under this Note shall not release the
Borrower from such obligations.

Lender:  Braun Management Services, Inc.
         --------------------------------------------

Address: 309 - 837 West Hastings Street
         --------------------------------------------

         Vancouver, BC  V6C 3N6
         --------------------------------------------

The Lender may transfer all or any part of this Note with written notice to the
Borrower of the transfer, including the name, address of the transferee and the
amount of the Note transferred. The Borrower may treat the Lender as the owner
of this Note until it received written notice of a transfer of all or part of
this Note to another Lender. The word "Lender" means the original Lender and
anyone else to whom this Note is transferred.

1. PROMISE TO PAY. In return for a loan that is received from the original
Lender, the Borrower promises to pay to the Lender $5,000 (called "principal"),
plus interest at a rate of 10% per annum. The Borrower will repay the entire
principal 2 years from date, unless the Lender demands earlier payment under
"Lender's Right of Acceleration" below or the parties agree to extend the due
date. The Borrower may make earlier principal payments.

2. INTEREST PAYMENTS. The Borrower will make quarterly interest payments to the
Lender in the amount of $125, each payable on March 31, June 30, September 30
and December 31 beginning on March 31, 2002. The first payment shall also
include interest from this day through March 31, 2002, if any. However, if an
interest payment is due on a Saturday, Sunday or legal holiday, then the
Borrower will make the interest payment the next day.

3. LENDER'S RIGHT OF ACCELERATION. The Lender has the right, called
acceleration, to declare the entire unpaid principal and interest under this
Note due immediately for any of the following causes:

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         (a)      If the Borrower fails to make any payment or principal or
                  interest within fifteen days after its due date.
         (b)      If the Borrower fails to keep any other promise made in this
                  Note within thirty days after written notice from the Lender.
         (c)      If one or more judgments is entered against the Borrower which
                  exceed, in the aggregate, $100,000 if the Borrower does not
                  pay such judgments or arrange for their enforcement to be
                  postponed no later than within thirty days after the judgments
                  have been entered.
         (d)      If bankruptcy, receivership, or insolvency proceedings are
                  started by or against the Borrower, or if the Borrower
                  dissolves, liquidates or otherwise winds up its business.

4. AGREEMENT OF SUBORDINATION. The Lender's rights to receive payments of
principal, interest and fees under this Note is subordinated to the prior
payment of all loans or other extensions of credit made to the Borrower by any
bank, savings and loan association, finance company, insurance company or any
similar financial institution (such loans and extensions of credit, together
with any interest or fees payable on or in connection with such loans and
extensions of credit, are from now on called "Senior Indebtedness") on the
following types:

         (a)      The Lender shall not be entitled to receive any principal,
                  interest or fee payments, and the Borrower shall not make such
                  payments, unless, at the time of such payment (i) the Borrower
                  shall have had all amounts due at such time under any Senior
                  Indebtedness, and (ii) the Borrower shall not be in default
                  under the terms of any Senior Indebtedness and payment of the
                  amount due under this Note would not result in a default under
                  any Senior Indebtedness. The word "default" includes defaults
                  declared by holders of any Senior Indebtedness and any
                  conditions, event or act which, with notice or the passage of
                  time, would result in a default under any Senior Indebtedness.
         (b)      If bankruptcy, receivership, or insolvency proceedings by or
                  against the Borrower or its property occurs, or if the
                  Borrower dissolves, liquidates its assets or otherwise winds
                  up its business, the Borrower shall pay all outstanding Senior
                  Indebtedness before making any payment of principal, interest
                  or fees due under this Note. Any payments or distributions
                  (including distributions of the Borrower's non-cash assets or
                  securities that would otherwise be made to the Lender will
                  first be paid on account of all outstanding Senior
                  Indebtedness.
         (c)      If the Lender demands early payment of this Note for any
                  reason, the Borrower shall first pay all outstanding Senior
                  Indebtedness before making any payments under this note.
         (d)      If the Lender receives any payment which is not entitled under
                  this Note, the Lender shall hold such payment for the benefit
                  of the holder of Senior Indebtedness and deliver such payment
                  or distribution to the holders of Senior Indebtedness or their
                  representatives for payment on account of all outstanding
                  Senior Indebtedness.
         (e)      After the Senior Indebtedness has been paid in full, the
                  Lender shall be entitled to the rights of Senior Indebtedness
                  to receive payments until all amounts due under this Note are
                  paid in full

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5. NOTICES. All notices under this Note must be in writing. They may be given by
(a) personal delivery, or (b) certified mail, return receipt requested. Each
Party mush accept and claim the notices given by the other. Notices shall be
addressed to the other party at the address written at the beginning of this
Note, or, if the notice is to a Lender to whom this Note was transferred, the
address stated in the notice to the Borrower of such transfer. Either party may
notify the other of a change of address.

6.       CONVERSION OF CONVERTIBLE NOTES.

6.1.     RIGHT TO CONVERT. Subject to and upon compliance with the provisions of
         this Section 6, at the option of the holder of any Convertible Notes,
         such Convertible Notes, or any portion of the principal amount thereof,
         may at any time at or before the close of business on the maturity date
         of such Convertible Notes be converted at 100% or so much of the
         principal amount of such Convertible Notes as are so converted into
         Common Stock at the Conversion Price, determined as hereinafter
         provided, in effect at the date of the conversion.

6.2.     MANNER OF EXERCISE OF CONVERSION PRIVILEGE. In order to exercise the
         conversion privilege, the holder shall surrender this Convertible Note
         to the Company at any time during usual business hours at its office or
         agency in the City of Las Vegas, State of Nevada, accompanied by
         written notice to the Company at such office or agency that the holder
         elects to convert this Convertible Note or a specified portion thereof
         and stating the name or names (with address) in which the certificate
         or certificates for shares of Common Stock which shall be issuable on
         such conversion shall be issued. All Convertible Notes surrendered for
         conversion shall (if so required by the Company) be accompanied by
         proper assignments thereof to the Company or be blank. As promptly as
         practicable after the receipt of such notice and the surrender of this
         Convertible Note as aforesaid the Company shall issue and deliver at
         such office or agency to the holder, or on his written order, a
         certificate or certificates for the number of full shares of Common
         Stock issuable on such conversion in accordance with the provision of
         this Article and cash, as provided in Subsection 3, in respect of any
         fraction of a share of Common Stock otherwise issuable upon such
         conversion. Such conversion shall be deemed to have been effected at
         the close of business on the Date of Conversion, and the person or
         persons in whose name or names any certificate or certificates for
         shares of Common Stock shall be issuable upon such conversion shall be
         deemed to have become the holder or holders of record of the shares
         represented thereby on such date; provided, however, that any such
         surrender on any date when the stock transfer books of the Company
         shall be closed shall constitute the person or persons in whose name or
         names the certificate or certificates for such shares are to be issued
         as the record holder or holders thereof for all purposes at the close
         of business on the next succeeding day on which such stock transfer
         books are open, and the Note surrendered shall not be deemed to have
         been converted until such time for all purposes, but such conversion
         shall be at the conversion price in effect at the close of business on
         the date of such surrender. Anything contained in this Section 6.2 to
         the contrary notwithstanding, the Company shall not be obligated to
         effect the transfer of any Conversion Shares upon conversion of any
         portion of any Convertible Notes or cause any Conversion Shares upon
         conversion of any Convertible Notes to be registered in any name or

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         names other than the name of the holder of the Convertible Notes,
         converted or to be converted (or such holder's nominee or nominees)
         unless such holder delivers to the Company an opinion of counsel
         reasonably satisfactory to the Company to the effect that such transfer
         is in compliance with applicable securities laws.

         In case any Convertible Note shall be surrendered for conversion of
         only a portion of the principal amount thereof, the Company shall
         execute and deliver to the holder of such Convertible Note, at the
         expense of the Company, a new Convertible Note in the denomination or
         denominations ($1,000 and integral multiples thereof, plus one
         Convertible Note in a lesser denomination, if required) as such holder
         may request in an aggregate principal amount equal to the unconverted
         portion of the Convertible Note so surrendered.

6.3.     FRACTIONS OF SHARE. The Company shall not be required to issue
         fractions of a share or scrip representing fractional shares of Common
         Stock upon conversion of Convertible Note. If any fraction of a share
         of Common Stock would, except for the provisions of this Section be
         issuable on the conversion of any Convertible Notes (or specified
         portions thereof), the Company shall pay a cash adjustment in respect
         of such fraction, equal to the value of such fraction based on the then
         conversion price.

6.4.     CONVERSION PRICE.

         (i)      The price at which shares of Common Stock shall be delivered
                  upon conversion (herein called the Conversion Price) shall
                  initially be $0.01 per share of Common Stock.
         (ii)     The Conversion Price in effect or to be in effect at any time
                  shall be subject to adjustment from time to time as provided
                  in subsection 6.5.

6.5      ADJUSTMENT OF CONVERSION PRICE AND NUMBER OF SHARES OF COMMON STOCK
         ISSUABLE UPON CONVERSION OF THE CONVERTIBLE NOTES. Upon each adjustment
         of the Conversion Price, the Note-Holders shall thereafter be entitled
         to purchase, at the conversion price resulting from such adjustment,
         the number of shares obtained by multiplying the Conversion Price in
         effect immediately prior to such adjustment by the number of shares
         purchasable pursuant hereto immediately prior to such adjustment and
         dividing the product thereof by the conversion price resulting from
         such adjustment.

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

         A. In case the Company shall at any time or from time to time after the
         date hereof (I) issue or sell any additional shares of Common Stock for
         a consideration per share less than the Conversion Price in effect
         immediately prior to the issue or sale of such additional shares, or
         without consideration, or (II) pay or make a dividend (other than in
         cash payable from retained earnings or earned surplus) or other
         distribution on Common Stock, then and thereafter successively upon
         each such issue, sale, dividend or other distribution, the Conversion
         Price for each share of Common Stock in effect immediately prior to
         such issue, sale, dividend or other distribution, the Conversion Price

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         for each share of Common Stock in effect immediately prior to such
         issue, sale, dividend or other distribution shall forthwith be reduced
         to a price (calculated to the nearest full cent) equal to the quotient
         obtained by dividing (i) an amount equal to the sum of (a) the total
         number of shares of Common Stock outstanding immediately prior to such
         issue sale, dividend or other distribution multiplied by such
         Conversion Price in effect immediately prior to such issue, sale,
         dividend or other distribution, plus (b) in the case of such an issue
         or sale, the consideration, if any, received by the Company upon such
         issue or sale, or minus (c) in the case of such a dividend or other
         distribution, the amount of such dividend or other distribution, by
         (ii) the total number of shares of Common Stock outstanding immediately
         after such issue, sale, dividend or other distribution.

         The Company shall not be required to make any adjustment of the
         Conversion Price if the amount of such adjustment shall be less than
         $0.001 per share, but in such case any adjustment that would otherwise
         be required then to be made shall be carried forward and shall be made
         at the time and together with any adjustment so carried forward, shall
         amount to not less than $0.001 per share.

         For the purpose of any adjustment as provided in this subsection A, the
         following provisions shall also be applicable:

         (i) In case of the issue of additional shares of Common Stock for cash,
         the consideration received by the Company therefore shall be deemed to
         be the cash proceeds received by the Company for such shares, without
         deduction therefrom of any expenses incurred or any underwriting
         commissions or concessions paid or allowed by the Company in connection
         therewith.

         (ii) In case at any time the Company shall grant any rights to
         subscribe for or to purchase, or any options for the purchase of,
         Common Stock or any stock or other securities convertible into or
         exchangeable for Common Stock (such convertible or exchangeable stock
         or securities being herein called "Convertible Securities"), whether or
         not such rights or options or the rights to convert or exchange any
         such Convertible Securities are immediately exercisable, and the price
         per share for which Common Stock is issuable upon the exercise of such
         rights or options or upon conversion or exchange of such Convertible
         Securities,

         (determined by dividing (a) the total amount, if any, received or
         receivable by the Company as consideration for the granting of such
         rights or options, plus the minimum aggregate amount of additional
         consideration payable to the Company upon the exercise of such rights
         or options, plus, in the case of any such rights or options which
         relate to such Convertible Securities, the minimum aggregate amount of
         additional consideration, if any, payable upon the issue or sale of
         such Convertible Securities and upon the conversion or exchange
         thereof, by (b) the total maximum numbers of shares of Common Stock
         issuable upon the exercise of such rights or options or upon the
         conversion or exchange of all such Convertible Securities issuable upon
         the exercise of such right or options).

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         shall be less than the conversion price in effect immediately prior to
         the time of the granting of such rights or options, then the total
         maximum number of shares of Common Stock issuable upon the exercise of
         such rights or options or upon conversion or exchange of the total
         maximum amount of such Convertible Securities issuable upon the
         exercise of such rights or options shall (as of the date of granting of
         such rights or options) be deemed to be outstanding and to have been
         issued for such price per share. No further adjustments of the
         conversion price shall be made upon the actual issue of such Common
         Stock or of such Convertible Securities upon exercise of such rights or
         options or upon the actual issue of such Common Stock upon conversion
         or exchange of such Convertible Securities.

         (iii) In case at any time the Company shall declare a dividend or make
         any other distribution upon any stock of the Company payable in Common
         Stock or Convertible Securities, any Common Stock or Convertible
         Securities, as the case may be, issuable in payment of such dividend or
         distribution shall be deemed to have been issued or sold without
         consideration.

         (iv) In case any shares of Common Stock or Convertible Securities or
         any rights or options to purchase any such Common Stock or Convertible
         Securities shall be issued or sold, in whole or in part, for a
         consideration other than cash, the amount of the consideration other
         than cash received by the Company shall be deemed to be the fair value
         of such consideration as determined by the Board of Directors of the
         Company.

         (v) In the event of the consolidation of the Company with or the merger
         of the Company into any other corporation or of the sale of the
         properties and assets of the Company as, or substantially as, an
         entirety for stock or other securities of any corporation, or the
         merger of any other corporation into the Company as a result of which
         the holders of shares of Common Stock of the Company shall be deemed to
         have become the holders of, or shall become entitled to, stock or other
         securities of any corporation other than the Company, the Company shall
         be deemed to have issued a number of shares of its Common Stock for
         such stock or securities computed on the basis of the exchange ratio
         actually applied in the transaction and for a consideration equal to
         the fair market value on the date of such transaction of such stock or
         securities of the other corporation. If such determination shall cause
         an adjustment in the Conversion Price, the determination of the number
         of shares of Common Stock issuable upon the conversion of any
         Convertible Note immediately prior to such consolidation, merger or
         sale for the purpose of subsection (iii) of this subsection 6.5 shall
         be made after giving effect to such adjustment of the Conversion Price.

         (vi) In case of the payment or making of a dividend or other
         distribution on Common Stock in property (other than in shares of
         Common Stock and securities convertible into or exchangeable for shares
         for Common Stock, but including all other securities) such dividend or
         other distribution shall be deemed to have been paid or make at the
         close of business at the record date fixed for the determination of
         stockholders entitled to receive such dividend or other distribution
         shall be the amount of cash and, if in property other than cash, shall
         be deemed to be the value of such property as determined in good faith
         by the Board of Directors of the Company at the time of the declaration
         of such dividend or other distribution.

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         (vii) The number of shares of Common Stock outstanding at any given
         time shall not include shares owned or held by or for the account of
         the Company, and the disposition of any such shares shall be considered
         an issue of sale of Common Stock.

         B. Anything to the contrary notwithstanding, the Company shall not be
         required to make any adjustment of the Conversion Price as a result of
         the happing of any of the following:

         (i) The issue of the Convertible Notes of which this note is a part;

         (ii) The issue of shares of Common Stock upon the conversion from time
         to time of the Convertible Notes;

         (iii) The issue of not more than 100,000 shares of Common Stock upon
         the exercise of options granted under the Company's Employee's
         Qualified Stock Option Plan;

         (iv) The issue of non-qualified stock options (and the issuance of
         shares upon the exercise thereof) by the Company to its officers and
         employees for not exceeding an aggregate of 100,000 shares of Common
         Stock;

         (v) Such additional shares as may be issuable upon the exercise of such
         options by reason of stock dividends, stock splits, and other changes
         in the capitalization of the Company; and

         C. In case at any time the Company's shares shall be combined into a
         small number of shares, the conversion price in effect immediately
         prior to such combination shall remain unchanged.

         D. If any capital reorganization or reclassification of the capital
         stock of the Company, or consolidation or merger of the Company with
         another corporation, or the sale of all or substantially all of its
         assets to another corporation shall be effected in such a way that
         holders of Common Stock (or any other securities of the Company then
         issuable upon the conversion of this Convertible Note) shall be
         entitled to receive stock, securities or assets with respect to or in
         exchange for Common Stock (or such other securities) then, as a
         condition of such reorganization, reclassification, consolidation,
         merger or sale, lawful and adequate provision shall be made whereby the
         holder hereof shall thereafter have the right to purchase and receive
         upon the basis and upon the terms and conditions specified in this
         Convertible Note and in lieu of the shares of the Common Stock (or
         other securities) of the Company immediately theretofore purchasable
         and receivable upon the exercise of the rights represented hereby, such
         shares of stock, securities or assets as my be issued or payable with
         respect to or in exchange for a number of shares of such Common Stock
         (or such other securities) immediately theretofore purchasable and
         receivable upon the exercise of the rights represented hereby, had such
         reorganization, reclassification, consolidation , merger or sale not

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         taken place, and in any case appropriate provision shall be made with
         respect to the rights and interest of the holder of this Convertible
         Note to the end that the provisions hereof (including without
         limitation provisions fro adjustments of the conversion price and of
         the number of shares purchasable upon the conversion of this
         Convertible Note) shall thereafter be applicable, as nearly as may be,
         in relation to any shares of stock, securities or assets thereafter
         deliverable upon the conversion hereof (including an immediate
         adjustment, by reason of such consolidation, merger or sale, of the
         conversion price, to the value for the Common Stock reflected by the
         terms of such consolidation, merger or sale if the value so reflected
         is less than the conversion price in effect immediately prior to such
         consolidation, merger or sale). The Company shall not effect any such
         consolidation, merger or sale, unless prior to the consummation thereof
         the successor corporation (if other than the Company) resulting from
         such consolidation or merger or the corporation purchasing such assets
         shall assume, by written instrument executed and mailed to the
         registered holder hereof at the last address of such holder appearing
         on the books of the Company, the obligation to deliver to such holder
         such shares of stock, securities or assets, as, in accordance with the
         foregoing provisions, such holder may be entitled to purchase. The
         successor corporation shall be deemed substituted for the Company for
         all purposes of this Agreement and the Convertible Notes.

         The provisions of subsection D governing the substitution of another
         corporation for the Company shall similarly apply to successive
         instances in which the corporation then deemed to be the Company
         hereunder shall either sell all or substantially all of its properties
         and assets to any other corporation or shall be the surviving
         corporation of the merger into it of any other corporation as a result
         of which the holders of any of its tock or other securities shall be
         deemed to have become the holders of, or shall become entitled to, the
         stock or other securities of any corporation other than the corporation
         at the time deemed to be the Company hereunder.

6.6      NOTICE OF CONVERSION PRICE. Upon any adjustment of the conversion
         price, than and in each such case the Company shall give written notice
         thereof, to the holder thereof, which notice shall state the conversion
         price resulting from such adjustment and the increase or decrease, if
         any, in the number of shares purchasable at such price upon the
         exercise of this Convertible Note, setting forth in reasonable detail
         the method of calculation and the facts upon which such calculation is
         based.

         The Company will, within 90 days after the end of each of its fiscal
         years, and at such other times as the Holder may reasonably request,
         mail to the holder of each Convertible Note at the address of such
         holder shown on the books of the Company a certificate of the
         independent public accountants for the Company specifying the
         Conversion Price in effect as the end of such fiscal year and the
         number of shares of Common Stock, or the kind and amount of any
         securities or property other than Common Stock or both, issuable upon
         the conversion of the Convertible Notes.

6.7      NOTICE OF DISTRIBUTIONS, RIGHTS OF REORGANIZATION, ETC. In case at any
         time:

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         (1) the Company shall pay any dividend payable in stock upon its Common
         Stock or make any distribution (other than regular cash dividend) to
         the holders of its Common Stock;

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

         (3) there shall be any capital reorganization, or reclassification of
         the capital stock of the Company, or consolidation or merger of the
         Company, or sale of all or substantially all of its assets to, another
         corporation; or

         (4) there shall be a voluntary or involuntary dissolution, liquidation
         or winding up of the Company;

         then in any one or more of said cases, the Company shall give written
         notice, to the holder of this Convertible Note, of the date on which
         (a) the books of the Company shall close or a record shall be taken for
         such dividend, distribution or subscription rights, or (b) such
         reorganization, reclassification, consolidation, merger, sale,
         dissolution, liquidation or winding up shall take place, as the case
         may be. Such notice shall also specify the dates 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 Common Stock for securities or other property deliverable upon
         such reorganization, reclassification, consolidation, merger, sale,
         dissolution, liquidation or winding up, as the case may be. Such
         written notice shall be given at least 20 days prior to the record date
         or the date on which the Company's transfer books are closed in respect
         thereto.

6.8      TAXES ON CONVERSION. The issue of certificates on conversion of
         Convertible notes hall be made without charge to the converting
         Noteholder for any tax in respect of the issue thereof. The Company
         shall not, however, be required to pay any tax which may be payable in
         respect of any transfer involved in the issue and delivery of stock in
         any name other than that of the holder of any Note converted, and the
         Company shall not be required to issue or deliver any certificate in
         respect to such stock unless and until the person or persons requesting
         the issuance thereof shall have paid to the Company the amount of such
         tax or shall have established to the satisfaction of the Company that
         such tax has been paid.

6.9      COMPANY TO RESERVE STOCK. The Company shall at all times reserve and
         keep available out of its authorized but unissued stock, for the
         purpose of effecting the conversion of the Convertible Notes, such
         number of its duly authorized shares of Common Stock as shall from time
         to time be sufficient to effect the conversion of all outstanding
         Convertible Notes. If any shares of Common Stock, reserved or to be
         reserved, for such purposes, required registration under any Federal or
         state law before such shares may be validly issued to the holder, the
         Company covenants that it will in good faith and as expeditiously as
         possibly endeavor to secure such registration or approval, as the case
         may be.

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         The Company will not take any action which would cause the conversion
         price to be below the then par value, if any, per share of the Common
         Stock, or in the case of no-par stock, below the amount for which such
         shares may be issued as fully paid and nonassesable.

         The Company covenants that all shares of Common Stock which may be
         issued upon conversion of Convertible Notes will upon issue be fully
         paid and nonassessable and free from all taxes, liens and charges with
         respect to the issue thereof.

6.10     NO RIGHTS AS STOCKHOLDERS. Prior to the conversion of any Convertible
         Note, the holder of such Convertible Note shall not be entitled to any
         rights of a stockholder of the Company, including without limitation
         the right to vote, to receive dividends or other distributions or to
         exercise any pre-emptive rights, and shall not be entitled to receive
         any notice of any proceedings of the Company, except as provided
         herein.

Dated:            November 21, 2001
                  -----------------------------------

Signature:        /s/ Robert Harrison
                  -----------------------------------

Name:             Robert Harrison
                  -----------------------------------

Title:            President
                  -----------------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]