Document:

SEQUIAM CORPORATION AND CERTAIN OF ITS SUBSIDIARIES
                            MASTER SECURITY AGREEMENT

To:  Laurus Master Fund, Ltd.
     c/o Ironshore Corporate Services, Ltd.
     P.O. Box 1234 G.T
     Queensgate House
     South Church Street
     Grand Cayman, Cayman Islands

Date:  April 27, 2004

To Whom It May Concern:

     1.     To  secure  the  payment  of all Obligations (as hereafter defined),
Sequiam Corporation, a California corporation (the "Company"), each of the other
undersigned  parties  (other  than  Laurus Master Fund, Ltd, "Laurus")) and each
other entity that is required to enter into this Master Security Agreement (each
an  "Assignor"  and, collectively, the "Assignors") hereby assigns and grants to
Laurus a continuing security interest in all of the following property now owned
or  at any time hereafter acquired by any Assignor, or in which any Assignor now
have  or at any time in the future may acquire any right, title or interest (the
"Collateral"):  all  cash,  cash  equivalents,  accounts,  inventory, equipment,
goods, documents, instruments (including, without limitation, promissory notes),
contract  rights,  general  intangibles  (including, without limitation, payment
intangibles  and  an  absolute  right to license on terms no less favorable than
those  currently  in  effect  among  our  affiliates), chattel paper, supporting
obligations,  investment  property  (including,  without  limitation, all equity
interests  owned  by  any  Assignor),  letter-of-credit  rights,  trademarks and
tradestyles,  patents,  copyrights  and other intellectual property in which any
Assignor  now  have  or  hereafter may acquire any right, title or interest, all
proceeds  and  products  thereof  (including,  without  limitation,  proceeds of
insurance) and all additions, accessions and substitutions thereto or therefore.
In  the  event  any  Assignor  wishes to finance the acquisition in the ordinary
course  of  business  of  any  hereafter  acquired equipment and have obtained a
commitment  from  a financing source to finance such equipment from an unrelated
third  party,  Laurus  agrees to release its security interest on such hereafter
acquired  equipment so financed by such third party financing source.  Except as
otherwise  defined  herein,  all  capitalized  terms  used herein shall have the
meaning  provided  such  terms  in the Securities Purchase Agreement referred to
below.

                                        1
<PAGE>
     2.     The  term  "Obligations"  as  used herein shall mean and include all
debts,  liabilities  and  obligations  owing  by each Assignor to Laurus arising
under,  out  of,  or  in  connection  with: (i) that certain Securities Purchase
Agreement dated as of the date hereof by and between the Company and Laurus (the
"Securities  Purchase  Agreement"),  (ii)  that certain Secured Convertible Note
dated  as  of  the date hereof made by the Company in favor of Laurus (the "Term
Note"),  (iii)  that  certain  Warrant  dated  as of the date hereof made by the
Company  in  favor  of  Laurus  (the  "  Warrant"), (iv) that certain Subsidiary
Guaranty  dated  as  of  the  date  hereof  made  by certain Subsidiaries of the
Company,  (the  "Subsidiary  Guaranty"),  (v)  that  certain Registration Rights
Agreement dated as of the date hereof by and between the Company and Laurus (the
"Registration  Rights  Agreement"),  (vi)  this Master Security Agreement, (vii)
that  certain  Stock  Pledge  Agreement  dated  as  of the date hereof among the
Company,  certain  subsidiaries  of  the  Company  and Laurus (the "Stock Pledge
Agreement"),  (viii)  that  certain Escrow Agreement dated as of the date hereof
among  the Company, Laurus and the escrow agent referred to therein (the "Escrow
Agreement"),  (ix)  any  incremental  funding  referred  to  in  that  certain
Incremental  Funding Side Letter, dated the date hereof, between the Company and
Laurus (the "Incremental Funding Side Letter"), (x) any other additional funding
provided  by  Laurus to, or investments made by Laurus in, the Company after the
date  hereof  (the  agreements  and  documents  evidencing  such  funding and/or
investments,  collectively,  the  "Additional  Funding Agreements") and (ix) the
Subordination Agreement dated as of the date hereof among Mark Mroczkowski, Nick
VandenBrekel  and the Purchaser (the "Subordination Agreement")  (the Securities
Purchase  Agreement,  the  Term  Note,  the  Warrant,  the  Registration  Rights
Agreement,  the  Subsidiary  Guaranty, this Master Security Agreement, the Stock
Pledge Agreement, the Escrow Agreement, the Incremental Funding Side Letter, the
Additional  Funding  Agreements  and the Subordination Agreement, as each may be
amended,  modified, restated or supplemented from time to time, are collectively
referred  to  as  the  "Documents"),  and  in  connection  with  any  documents,
instruments  or  agreements  relating  to  or  executed  in  connection with the
Documents  or  any  documents,  instruments or agreements referred to therein or
otherwise,  and  in  connection  with  any  other  indebtedness,  obligations or
liabilities  of  any  Assignor  to  Laurus,  whether  now  existing or hereafter
arising, direct or indirect, liquidated or unliquidated, absolute or contingent,
due or not due and whether under, pursuant to or evidenced by a note, agreement,
guaranty,  instrument  or  otherwise,  in  each  case,  irrespective  of  the
genuineness,  validity,  regularity or enforceability of such Obligations, or of
any  instrument  evidencing any of the Obligations or of any collateral therefor
or  of  the  existence  or  extent  of  such collateral, and irrespective of the
allowability,  allowance or disallowance of any or all of the Obligations in any
case  commenced  by  or against any Assignor under Title 11, United States Code,
including,  without limitation, obligations or indebtedness of each Assignor for
post-petition  interest, fees, costs and charges that would have accrued or been
added  to  the  Obligations  but  for  the  commencement  of  such  case

     3.     Each  Assignor hereby jointly and severally represents, warrants and
covenants  to  Laurus  that:

          3.1      it  is  a  corporation,  partnership  or  limited  liability
company,  as  the  case may be, validly existing, in good standing and organized
under  the  respective  laws  of  its  jurisdiction of organization set forth on
Schedule  A,  and  each  Assignor  will  provide  Laurus thirty (30) days' prior
written  notice  of  any  change  in  any  of  its  respective  jurisdiction  of
organization;

                                        2
<PAGE>
          3.2     its  legal name is as set forth in its respective  Certificate
of  Incorporation  or  other  organizational document (as applicable) as amended
through  the  date  hereof  and  as set forth on Schedule A, and it will provide
Laurus  thirty  (30) days' prior written notice of any change in its legal name;

          3.3     its organizational identification number (if applicable) is as
set  forth  on  Schedule A hereto,  and it will provide Laurus thirty (30) days'
prior  written  notice of any change in any of its organizational identification
number;

          3.4     it is the lawful owner of the respective Collateral and it has
the  sole  right  to  grant  a  security  interest  therein  and will defend the
Collateral  against  all  claims  and  demands  of  all  persons  and  entities;

          3.5     it  will  keep its respective Collateral free and clear of all
attachments,  levies, taxes, liens, security interests and encumbrances of every
kind  and  nature  ("Encumbrances"),  except  (i)  Encumbrances  securing  the
Obligations, (ii) to the extent said Encumbrance does not secure indebtedness in
excess  of $100,000 and such Encumbrance is removed or otherwise released within
ten  (10)  days of the creation thereof, (iii) liens of warehousemen, mechanics,
materialmen, workers, repairmen, common carriers, or landlords, liens for taxes,
assessments  or  other  governmental charges, and other similar liens arising by
operation  of  law,  in each case arising in the ordinary course of business and
for  amounts  that  are  not yet due and payable or which are being contested in
good  faith  by  appropriate  proceedings  promptly  instituted  and  diligently
conducted and for which an adequate reserve or other appropriate provision shall
have  been  made  to  the  extent  required  by  generally  accepted  accounting
principals,  and  (iv)  pledges  or  deposits  in  connection  with  workers'
compensation,  unemployment  insurance  and  other  social  security legislation
(collectively,  the  "Permitted  Encumbrances");

          3.6     it  will,  at  its  and  the other Assignors joint and several
cost  and  expense use commercially reasonable efforts to keep the Collateral in
good  state  of  repair  (ordinary wear and tear excepted) and will not waste or
destroy  the  same  or any part thereof other than ordinary course discarding of
items  no  longer  used  or  useful  in  its  or such other Assignors' business;

          3.7     it  will  not  without  Laurus'  prior  written consent, sell,
exchange,  lease  or otherwise dispose of the Collateral, whether by sale, lease
or  otherwise,  except  for  the  sale  of  inventory  in the ordinary course of
business  and for the disposition or transfer in the ordinary course of business
during any fiscal year of obsolete and worn-out equipment or equipment no longer
necessary  for  its  ongoing needs, having an aggregate fair market value of not
more  than  $25,000  and  only  to  the  extent  that:

          (a)     the  proceeds  of  any  such  disposition  are used to acquire
     replacement Collateral which is subject to Laurus' first priority perfected
     security  interest,  or  are  used  to  repay Obligations or to pay general
     corporate  expenses;  and

          (b)     following  the  occurrence  of  an  Event  of  Default  which
     continues  to exist the proceeds of which are remitted to Laurus to be held
     as  cash  collateral  for  the  Obligations;

                                        3
<PAGE>
          3.8     it  will  insure  or  cause  the  Collateral  to be insured in
Laurus' name against loss or damage by fire, theft, burglary, pilferage, loss in
transit  and  such  other  hazards as Laurus shall specify, in amounts and under
policies  which are customary for similarly situated businesses, and by insurers
acceptable  to  Laurus, and all premiums thereon shall be paid by  such Assignor
and  the  policies  delivered  to  Laurus.  If any such Assignor fails to do so,
Laurus  may  procure  such  insurance  and  the  cost  thereof shall be promptly
reimbursed  by  the  Assignors,  jointly  and  severally,  and  shall constitute
Obligations;

          3.9     it  will  at  all reasonable times and upon reasonable advance
notice  to  such Assignor allow Laurus or Laurus' representatives free access to
and  the  right  of  inspection  of  the  Collateral;

          3.10     such  Assignor  (jointly  and  severally  with  each  other
Assignor)  hereby  indemnifies  and  saves Laurus harmless from all loss, costs,
damage,  liability  and/or  expense,  including reasonable attorneys' fees, that
Laurus  may  sustain  or incur to enforce payment, performance or fulfillment of
any  of  the  Obligations  and/or  in  the  enforcement  of this Master Security
Agreement  or  in  the prosecution or defense of any action or proceeding either
against  Laurus  or  any  Assignor  concerning  any  matter growing out of or in
connection  with  this  Master Security Agreement, and/or any of the Obligations
and/or  any  of  the Collateral except to the extent caused by Laurus' own gross
negligence  or  willful  misconduct  (as  determined  by  a  court  of competent
jurisdiction  in  a  final  and  nonappealable  decision).

     4.     The  occurrence of  any  of the following events or conditions shall
constitute  an  "Event  of Default" under this Master Security Agreement:

          4.1     Breach  of any covenant, warranty, representation or statement
made  or  furnished  to  Laurus by any Assignor or on any Assignor's benefit was
false  or  misleading  in  any  material  respect when made or furnished, and if
subject  to  cure,  shall  not  be  cured  for  a  period  of  thirty (30) days;

          (b)  the  loss,  theft,  substantial  damage,  destruction,  sale  or
     encumbrance  to  or  of  any  of  the Collateral or the making of any levy,
     seizure  or  attachment  thereof  or  thereon  except  to  the  extent:

          (a)     such  loss  is covered by insurance proceeds which are used to
     replace  the  item  or  repayLaurus;  or

          (b)     said  levy, seizure or attachment does not secure indebtedness
     in  excess  of  $100,000  and such levy, seizure or attachment has not been
     removed  or  otherwise released within ten (10) days of the creation or the
     assertion  thereof;

          4.2     any  Assignor  shall  become  insolvent,  cease  operations,
dissolve,  terminate  our business existence, make an assignment for the benefit
of  creditors,  suffer  the  appointment  of  a receiver, trustee, liquidator or
custodian  of  all  or  any  part  of  Assignors'  property;

          4.3     any  proceedings  under any bankruptcy or insolvency law shall
be  commenced  by  or against any Assignor and if commenced against any Assignor
shall  not  be  dismissed  within  forty-five  (45)  days;

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<PAGE>
          4.4     the  Company  shall  repudiate,  purport  to revoke or fail to
perform  any  or  all  of  its  obligations  under  the  Note  (after passage of
applicable  cure  period,  if  any);  or

          4.5     an  Event  of Default shall have occurred under and as defined
in  any  Document,  after  giving effect to any applicable cure or grace period.

     5.     Upon  the  occurrence  of  any  Event  of  Default  and  at any time
thereafter,  Laurus  may declare all Obligations immediately due and payable and
Laurus  shall  have  the  remedies  of  a  secured party provided in the Uniform
Commercial  Code as in effect in the State of New York, this Agreement and other
applicable  law.  Upon  the  occurrence  of any Event of Default and at any time
thereafter,  Laurus will have the right to take possession of the Collateral and
to  maintain  such possession on our premises or to remove the Collateral or any
part thereof to such other premises as Laurus may desire.  Upon Laurus' request,
each of the Assignors shall assemble or cause the Collateral to be assembled and
make  it  available  to  Laurus  at  a  place  designated  by  Laurus.  If  any
notification  of intended disposition of any Collateral is required by law, such
notification, if mailed, shall be deemed properly and reasonably given if mailed
at  least  ten  (10) days before such disposition, postage prepaid, addressed to
any  Assignor  either  at such Assignor's address shown herein or at any address
appearing on Laurus' records for such Assignor.  Any proceeds of any disposition
of  any  of  the  Collateral  shall  be  applied by Laurus to the payment of all
expenses  in  connection  with  the sale of the Collateral, including reasonable
attorneys'  fees  and  other legal expenses and disbursements and the reasonable
expense of retaking, holding, preparing for sale, selling, and the like, and any
balance  of  such  proceeds  may  be applied by Laurus toward the payment of the
Obligations  in such order of application as Laurus may elect, and each Assignor
shall  be  liable  for  any  deficiency.

     6.     If any Assignor defaults in the performance or fulfillment of any of
the  terms,  conditions,  promises,  covenants, provisions or warranties on such
Assignor's  part  to  be performed or fulfilled under or pursuant to this Master
Security  Agreement,  Laurus  may,  at  its  option without waiving its right to
enforce this Master Security Agreement according to its terms, immediately or at
any  time  thereafter and without notice to any Assignor, perform or fulfill the
same  or  cause  the  performance or fulfillment of the same for each Assignor's
joint  and  several  account  and  at each Assignor's joint and several cost and
expense, and the cost and expense thereof (including reasonable attorneys' fees)
shall  be  added to the Obligations and shall be payable on demand with interest
thereon  at  the  highest  rate  permitted  by  law.

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<PAGE>
     7.     Each Assignor appoints Laurus, any of Laurus' officers, employees or
any other person or entity whom Laurus may designate as our attorney, with power
to  execute  such  documents  in  each  of  our behalf and to supply any omitted
information  and correct patent errors in any documents executed by any Assignor
or  on  any  Assignor's behalf; to file financing statements against us covering
the  Collateral; to sign  our name on public records; and to do all other things
Laurus  deem  necessary  to  carry  out  this  Master  Security Agreement.  Each
Assignor  hereby  ratifies  and  approves  all  acts of the attorney and neither
Laurus  nor  the attorney will be liable for any acts of commission or omission,
nor  for  any  error  of  judgment  or  mistake  of fact or law other than gross
negligence  or  willful  misconduct  (as  determined  by  a  court  of competent
jurisdiction  in a final and non-appealable decision).  This power being coupled
with  an  interest,  is  irrevocable  so long as any Obligations remains unpaid.
Furthermore,  in  connection  with  the  filing of any financing statements, the
Collateral  may  be  described  in any such financing statements as "all assets"
and/or  "all  personal  property",  whether now owned and/or hereafter acquired.

     8.     No  delay  or  failure  on  Laurus'  part  in  exercising any right,
privilege  or option hereunder shall operate as a waiver of such or of any other
right, privilege, remedy or option, and no waiver whatever shall be valid unless
in  writing, signed by Laurus and then only to the extent therein set forth, and
no  waiver  by  Laurus  of  any  default  shall operate as a waiver of any other
default  or of the same default on a future occasion.  Laurus' books and records
containing  entries  with  respect  to  the  Obligations  shall be admissible in
evidence  in  any  action or proceeding, shall be binding upon each Assignor for
the  purpose  of  establishing  the items therein set forth and shall constitute
prima  facie  proof  thereof.  Laurus shall have the right to enforce any one or
more  of  the  remedies  available  to  Laurus,  successively,  alternately  or
concurrently.  Each  Assignor  agrees to join with Laurus in executing financing
statements or other instruments to the extent required by the Uniform Commercial
Code  in  form  satisfactory  to Laurus and in executing such other documents or
instruments  as  may  be  required or deemed necessary by Laurus for purposes of
affecting or continuing Laurus' security interest in the Collateral.

     9.     This Master Security Agreement shall be governed by and construed in
accordance  with  the  laws  of  the  State of New York and cannot be terminated
orally.  All of the rights, remedies, options, privileges and elections given to
Laurus  hereunder  shall inure to the benefit of Laurus' successors and assigns.
The  term  "Laurus"  as herein used shall include Laurus, any parent of Laurus',
any  of  Laurus' subsidiaries and any co-subsidiaries of Laurus' parent, whether
now existing or hereafter created or acquired, and all of the terms, conditions,
promises,  covenants, provisions and warranties of this Agreement shall inure to
the  benefit  of  and  shall bind the representatives, successors and assigns of
each  Assignor  and  each of the foregoing.  Laurus and each Assignor hereby (a)
waive  any  and  all  right  to  trial  by  jury  in litigation relating to this
Agreement  and the transactions contemplated hereby and each Assignor agrees not
to  assert  any  counterclaim in such litigation, (b) submit to the nonexclusive
jurisdiction  of  any  New York State court sitting in the borough of Manhattan,
the  city  of  New York and (c) waive any objection Laurus or each Assignor  may
have as to the bringing or maintaining of such action with any such court.

     10.     All notices from Laurus to any Assignor shall be sufficiently given
if mailed or delivered to such Assignor's address set forth below.

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<PAGE>
     11.     This  Master  Security Agreement and the security interests granted
by  the  Assignors  hereunder  shall  terminate  upon the provision by Laurus of
written  confirmation  to the Company that (x) all indebtedness obligations owed
by  any  Assignor  to  Laurus  have  been  repaid  in  full  (including, without
limitation,  all  principal,  interest  and  fees  related to the Term Note, any
indebtedness  referred to in the Incremental Funding Side Letter, any Additional
Funding  Agreements and any other indebtedness outstanding at such time and owed
to  Laurus) and (y) all commitments by Laurus to fund any indebtedness have been
terminated  in  their  entirety.

                                   Very  truly  yours,

                                   SEQUIAM  CORPORATION

                                   By:  ____________________

                                   Name:

                                   Title:

                                   Address: 300 Sunport Lane
                                        Orlando, FL  32809

                                   SEQUIAM SOFTWARE, INC.

                                   By:  ____________________

                                   Name:

                                   Title:

                                   Address:  300 Sunport Lane
                                   Orlando, FL  32809

                                   SEQUIAM  BIOMETRICS,  INC.

                                   By:  ____________________

                                   Title:

                                   Address:  300  Sunport  Lane
                                   Orlando,  FL  32809

                                        7
<PAGE>
                                   SEQUIAM  EDUCATION,  INC.

                                   By:  ____________________

                                   Name:

                                   Title:

                                   Address:  300 Sunport Lane
                                   Orlando, FL  32809

                                   SEQUIAM  SPORTS,  INC.

                                   By:  ____________________

                                   Name:

                                   Title:

                                   Address:  300  Sunport  Lane
                                   Orlando,  FL  32809

                                   FINGERPRINT DECTECTION
                                   TECHNOLOGIES, INC.

                                   By:  ____________________

                                   Name:

                                   Title:

                                   Address:  300 Sunport Lane
                                   Orlando, FL  32809

                                        8
<PAGE>
                                   ACKNOWLEDGED:

                                   LAURUS  MASTER  FUND,  LTD.

                                   By:______________________

                                   Name:

                                   Title:

                                        9
<PAGE>
                                   SCHEDULE A

----------------------------------------------------------------
                    Jurisdiction of  Organization Identification
Entity               Organization              Number
------------------  ---------------  ---------------------------
Sequiam
Corporation         CA               CA:2047001
------------------  ---------------  ---------------------------
Sequiam
Software, Inc.      CA               CA:2377290
------------------  ---------------  ---------------------------
Sequiam
Biometrics, Inc.    FL               FL: P03000045341
------------------  ---------------  ---------------------------
Sequiam
Education, Inc.     FL               FL: P03000060330
------------------  ---------------  ---------------------------
Sequiam Sports,
Inc.                DE               DE: 3172165
------------------  ---------------  ---------------------------
Fingerprint
Detection
Technologies, Inc.  FL               FL: P03000079719
----------------------------------------------------------------

                                       10
<PAGE>Exhibit  10.4

                          REGISTRATION RIGHTS AGREEMENT

     This  Registration  Rights Agreement (this "Agreement") is made and entered
into  as  of  April  27,  2004, by and between Sequiam Corporation, a California
corporation  (the  "Company"),  and  Laurus Master Fund, Ltd. (the "Purchaser").

     This Agreement is made pursuant to the Securities Purchase Agreement, dated
as  of  the  date  hereof,  by  and  between  the Purchaser and the Company (the
"Securities  Purchase  Agreement"),  and  pursuant  to the Note and the Warrants
referred  to  therein.

     The Company and the Purchaser hereby agree as follows:

     1.     Definitions.  Capitalized  terms  used  and  not  otherwise  defined
            -----------
herein  that  are  defined  in  the Securities Purchase Agreement shall have the
meanings given such terms in the Securities Purchase Agreement.  As used in this
Agreement,  the  following  terms  shall  have  the  following  meanings:

          "Commission"  means  the  Securities  and  Exchange  Commission.

          "Common  Stock"  means shares of the Company's common stock, par value
$0.01  per  share.

          "Effectiveness  Date"  means  the 120th day following the date hereof.

          "Effectiveness  Period"  shall  have  the meaning set forth in Section
2(a).

          "Exchange  Act" means the Securities Exchange Act of 1934, as amended,
and  any  successor  statute.

          "Filing  Date"  means,  with  respect  to  the  Registration Statement
required  to  be filed hereunder, a date no later than thirty calendar (30) days
following the date hereof and with respect to shares of Common Stock issuable to
the  Holder  as  a  result  of  adjustments  to  the Fixed Conversion Price made
pursuant to Section 3.4 of the Secured Convertible Term Note or Section 4 of the
Warrant  or  otherwise,  thirty  calendar (30) days after the occurrence of such
event  or  the  date  of  the  adjustment  of  the  Fixed  Conversion  Price.

          "Holder"  or "Holders" means the Purchaser or any of its affiliates or
transferees to the extent any of them hold 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).

          "Note" has the meaning set forth in the Securities Purchase Agreement.

                                        1
<PAGE>
          "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  the  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 the Registration Statement, and all other amendments and
supplements  to  the  Prospectus,  including  post-effective amendments, and all
material  incorporated by reference or deemed to be incorporated by reference in
such  Prospectus.

          "Registrable  Securities" means the shares of Common Stock issued upon
the conversion of the Note and issuable upon exercise of the Warrants.

          "Registration Statement" means each registration statement required to
be filed hereunder, including 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 or
deemed  to  be  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  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, and any
successor  statute.

          "Securities  Purchase  Agreement"  means  the  agreement  between  the
parties  hereto calling for the issuance by the Company of a convertible Note in
the  initial  principal  amount  of  $2,000,000  plus  Warrants.

                                        2
<PAGE>
          "Trading  Market"  means  any  of  the NASD OTC Bulletin Board, NASDAQ
SmallCap  Market, the Nasdaq National Market, the American Stock Exchange or the
New  York  Stock  Exchange.

          "Warrants" means the Common Stock purchase warrants issued pursuant to
the  Securities  Purchase  Agreement.

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

          2.1     On  or  prior to the Filing Date the Company shall prepare and
file  with  the  Commission  a  Registration  Statement covering the Registrable
Securities  for  an  offering  to be made on a continuous basis pursuant to Rule
415.  The Registration Statement shall be on Form SB-2 (except if the Company is
not  then  eligible  to  register  for resale the Registrable Securities on Form
SB-2,  in  which  case such registration shall be on another appropriate form in
accordance  herewith).  The  Company  shall  cause the Registration Statement to
become effective and remain effective as provided herein.  The Company shall use
its  reasonable  commercial  efforts  to  cause the Registration Statement to be
declared  effective  under  the Securities Act as promptly as possible after the
filing  thereof,  but  in  any  event no later than the Effectiveness Date.  The
Company  shall  use  its  reasonable commercial efforts to keep the Registration
Statement  continuously  effective under the Securities Act until the date which
is  the  earlier  date  of when (i) all Registrable Securities have been sold or
(ii)  all  Registrable  Securities  may be sold immediately without registration
under  the  Securities  Act  and  without  volume  restrictions pursuant to Rule
144(k),  as  determined  by  the  counsel  to  the Company pursuant to a written
opinion  letter  to  such  effect,  addressed  and  acceptable  to the Company's
transfer  agent  and  the  affected  Holders  (the  "Effectiveness  Period").

          2.2     If: (i) the Registration Statement is not filed on or prior to
the  Filing  Date;  (ii) the Registration Statement is not declared effective by
the Commission by the Effectiveness Date; (iii) after the Registration Statement
is  filed  with  and  declared  effective  by  the  Commission, the Registration
Statement  ceases  to  be  effective  (by  suspension  or  otherwise)  as to all
Registrable  Securities  to  which it is required to relate at any time prior to
the  expiration of the Effectiveness Period (without being succeeded immediately
by  an  additional  registration  statement  filed and declared effective) for a
period of time which shall exceed 30 days in the aggregate per year or more than
20  consecutive calendar days (defined as a period of 365 days commencing on the
date the Registration Statement is declared effective); or (iv) the Common Stock
is  not listed or quoted, or is suspended from trading on any Trading Market for
a  period  of three (3) consecutive Trading Days (provided the Company shall not
have  been  able  to  cure  such trading suspension within 30 days of the notice
thereof  or  list the Common Stock on another Trading Market); (any such failure
or  breach  being  referred  to as an "Event," and for purposes of clause (i) or
(ii)  the  date  on which such Event occurs, or for purposes of clause (iii) the
date  which  such  30  day  or 20 consecutive day period (as the case may be) is
exceeded,  or  for  purposes  of  clause  (iv)  the date on which such three (3)
Trading  Day  period is exceeded, being referred to as "Event Date"), then until
the  applicable  Event  is  cured,  the  Company  shall  pay  to  each Holder an

                                        3
<PAGE>
amount  in  cash,  as liquidated damages and not as a penalty, equal to 2.0% for
each  thirty  (30) day period (prorated for partial periods) on a daily basis of
the  original  principal  amount  of  the Note. While such Event continues, such
liquidated  damages shall be paid not less often than each thirty (30) days. Any
unpaid  liquidated  damages  as  of the date when an Event has been cured by the
Company  shall  be  paid  within three (3) days following the date on which such
Event  has  been  cured  by  the  Company.

          (c)     Within  three  business  days  of  the Effectiveness Date, the
     Company shall cause its counsel to issue a blanket opinion in the form
     attached hereto as Exhibit A, to the transfer agent stating that the shares
     are subject to an effective registration statement and can be reissued free
     of restrictive legend upon notice of a sale by Laurus and confirmation by
     Laurus that it has complied with the prospectus delivery requirements,
     provided that the Company has not advised the transfer agent orally or in
     writing that the opinion has been withdrawn. Copies of the blanket opinion
     required by this Section 2(c) shall be delivered to Laurus within the time
     frame set forth above.

     3.     Registration Procedures.  If and whenever the Company is required by
            -----------------------
the  provisions  hereof to effect the registration of any Registrable Securities
under the Securities Act, the Company will, as expeditiously as possible:

          3.1     prepare  and  file  with  the  Commission  the  Registration
Statement  with  respect  to such Registrable Securities, respond as promptly as
possible  to any comments received from the Commission, and use its best efforts
to  cause  the  Registration  Statement  to  become and remain effective for the
Effectiveness Period with respect thereto, and promptly provide to the Purchaser
copies of all filings and Commission letters of comment relating thereto;

          3.2     prepare  and  file  with  the  Commission  such amendments and
supplements  to the Registration Statement and the Prospectus used in connection
therewith  as  may  be necessary to comply with the provisions of the Securities
Act with respect to the disposition of all Registrable Securities covered by the
Registration  Statement  and to keep such Registration Statement effective until
the  expiration  of  the  Effectiveness  Period;

          3.3     furnish  to  the  Purchaser  such  number  of  copies  of  the
Registration  Statement  and  the  Prospectus  included  therein (including each
preliminary  Prospectus)  as  the Purchaser reasonably may request to facilitate
the  public  sale  or  disposition  of the Registrable Securities covered by the
Registration  Statement;

          3.4     use its commercially reasonable efforts to register or qualify
the  Purchaser's  Registrable  Securities  covered by the Registration Statement
under  the securities or "blue sky" laws of such jurisdictions within the United
States  as  the  Purchaser  may  reasonably request, provided, however, that the
Company  shall  not  for  any  such  purpose be required to qualify generally to
transact  business  as  a  foreign  corporation  in  any  jurisdiction

                                        4
<PAGE>
where  it is not so qualified or to consent to general service of process in any
such  jurisdiction;

          3.5     list  the  Registrable  Securities covered by the Registration
Statement  with any securities exchange on which the Common Stock of the Company
is  then  listed;

          3.6     immediately notify the Purchaser at any time when a Prospectus
relating  thereto  is  required to be delivered under the Securities Act, of the
happening  of  any event of which the Company has knowledge as a result of which
the  Prospectus  contained  in  such  Registration Statement, as then in effect,
includes  an  untrue  statement  of a material fact or omits to state a material
fact  required  to be stated therein or necessary to make the statements therein
not  misleading  in  light  of  the  circumstances  then  existing;  and

          3.7     make  available  for  inspection  by  the  Purchaser  and  any
attorney,  accountant  or  other  agent  retained by the Purchaser, all publicly
available,  non-confidential  financial  and  other records, pertinent corporate
documents  and  properties  of  the  Company,  and cause the Company's officers,
directors  and  employees  to  supply  all  publicly available, non-confidential
information  reasonably  requested  by  the attorney, accountant or agent of the
Purchaser.

     4.     Registration  Expenses.  All  expenses  relating  to  the  Company's
            ----------------------
compliance  with  Sections  2  and  3 hereof, including, without limitation, all
registration  and  filing  fees,  printing  expenses,  fees and disbursements of
counsel  and  independent  public accountants for the Company, fees and expenses
(including  reasonable  counsel fees) incurred in connection with complying with
state  securities  or "blue sky" laws, fees of the NASD, transfer taxes, fees of
transfer  agents  and  registrars,  fees  of, and disbursements incurred by, one
counsel for the Holders (to the extent such counsel is required due to Company's
failure  to  meet  any  of  its obligations hereunder), are called "Registration
Expenses".  All  selling  commissions  applicable  to  the  sale  of Registrable
Securities,  including  any fees and disbursements of any special counsel to the
Holders  beyond  those  included  in  Registration Expenses, are called "Selling
Expenses."   The Company shall only be responsible for all Registration Expenses
but  not  Selling  Expenses.

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

          5.1     In  the  event of a registration of any Registrable Securities
under  the Securities Act pursuant to this Agreement, the Company will indemnify
and  hold  harmless  the  Purchaser,  and its officers, directors and each other
person,  if any, who controls the Purchaser within the meaning of the Securities
Act,  against  any  losses, claims, damages or liabilities, joint or several, to
which the Purchaser, or such persons may become subject under the Securities Act
or otherwise, insofar as such losses, claims, damages or liabilities (or actions
in  respect  thereof)  arise  out  of  or are based upon any untrue statement or
alleged  untrue  statement  of  any  material fact contained in any Registration
Statement  under  which  such  Registrable  Securities were registered under the
Securities  Act  pursuant to this Agreement, any preliminary Prospectus or final
Prospectus  contained  therein, or any amendment or supplement thereof, or arise
out  of  or  are  based  upon  the  omission  or  alleged

                                        5
<PAGE>
omission  to  state  therein  a  material  fact required to be stated therein or
necessary  to make the statements therein not misleading, and will reimburse the
Purchaser,  and  each  such  person  for  any reasonable legal or other expenses
incurred  by  them  in connection with investigating or defending any such loss,
claim, damage, liability or action; provided, however, that the Company will not
be  liable  in  any  such  case  if and to the extent that any such loss, claim,
damage  or  liability  arises  out  of  or  is based upon an untrue statement or
alleged  untrue  statement or omission or alleged omission so made in conformity
with  information  furnished by or on behalf of the Purchaser or any such person
in writing specifically for use in any such document.

          5.2     In  the  event of a registration of the Registrable Securities
under  the  Securities  Act  pursuant  to  this  Agreement,  the  Purchaser will
indemnify  and  hold  harmless the Company, and its officers, directors and each
other  person,  if  any,  who  controls  the  Company  within the meaning of the
Securities  Act,  against  all  losses, claims, damages or liabilities, joint or
several,  to  which  the  Company  or  such persons may become subject under the
Securities  Act  or  otherwise,  insofar  as  such  losses,  claims,  damages or
liabilities  (or  actions in respect thereof) arise out of or are based upon any
untrue  statement  or  alleged  untrue  statement of any material fact which was
furnished  in  writing by the Purchaser to the Company expressly for use in (and
such  information  is  contained in) the Registration Statement under which such
Registrable Securities were registered under the Securities Act pursuant to this
Agreement,  any preliminary Prospectus or final Prospectus contained therein, or
any  amendment  or  supplement  thereof,  or  arise out of or are based upon the
omission  or  alleged  omission  to state therein a material fact required to be
stated  therein  or necessary to make the statements therein not misleading, and
will  reimburse  the  Company  and  each such person for any reasonable legal or
other  expenses  incurred  by them in connection with investigating or defending
any  such  loss, claim, damage, liability or action, provided, however, that the
Purchaser  will  be  liable  in any such case if and only to the extent that any
such  loss,  claim, damage or liability arises out of or is based upon an untrue
statement or alleged untrue statement or omission or alleged omission so made in
conformity  with information furnished in writing to the Company by or on behalf
of the Purchaser specifically for use in any such document.  Notwithstanding the
provisions  of  this paragraph, the Purchaser shall not be required to indemnify
any  person  or  entity  in  excess  of the amount of the aggregate net proceeds
received  or receivable by the Purchaser in respect of Registrable Securities in
connection with any such registration under the Securities Act.

          5.3     Promptly  after  receipt  by  a  party  entitled  to  claim
indemnification hereunder (an "Indemnified Party") of notice of the commencement
of  any  action, such Indemnified Party shall, if a claim for indemnification in
respect thereof is to be made against a party hereto obligated to indemnify such
Indemnified  Party  (an  "Indemnifying Party"), notify the Indemnifying Party in
writing  thereof, but the omission so to notify the Indemnifying Party shall not
relieve  it from any liability which it may have to such Indemnified Party other
than  under this Section 5(c) and shall only relieve it from any liability which
it  may  have  to  such  Indemnified Party under this Section 5(c) if and to the
extent  the  Indemnifying Party is prejudiced by such omission. In case any such
action  shall  be  brought against any Indemnified Party and it shall notify the
Indemnifying  Party of the

                                        6
<PAGE>
commencement thereof, the Indemnifying Party shall be entitled to participate in
and,  to  the  extent it shall wish, to assume and undertake the defense thereof
with  counsel satisfactory to such Indemnified Party, and, after notice from the
Indemnifying  Party  to  such Indemnified Party of its election so to assume and
undertake  the  defense  thereof,  the Indemnifying Party shall not be liable to
such  Indemnified  Party  under  this  Section  5(c)  for  any  legal  expenses
subsequently  incurred  by such Indemnified Party in connection with the defense
thereof;  if the Indemnified Party retains its own counsel, then the Indemnified
Party shall pay all fees, costs and expenses of such counsel, provided, however,
that,  if  the  defendants in any such action include both the indemnified party
and  the  Indemnifying  Party  and  the  Indemnified Party shall have reasonably
concluded  that  there  may  be  reasonable  defenses  available to it which are
different  from or additional to those available to the Indemnifying Party or if
the interests of the Indemnified Party reasonably may be deemed to conflict with
the  interests  of  the Indemnifying Party, the Indemnified Party shall have the
right  to  select  one  separate  counsel  and to assume such legal defenses and
otherwise  to  participate  in  the  defense of such action, with the reasonable
expenses  and  fees  of such separate counsel and other expenses related to such
participation to be reimbursed by the Indemnifying Party as incurred.

          5.4     In order to provide for just and equitable contribution in the
event  of  joint  liability under the Securities Act in any case in which either
(i)  the  Purchaser,  or  any  officer,  director  or  controlling person of the
Purchaser,  makes  a claim for indemnification pursuant to this Section 5 but it
is  judicially determined (by the entry of a final judgment or decree by a court
of  competent jurisdiction and the expiration of time to appeal or the denial of
the  last right of appeal) that such indemnification may not be enforced in such
case  notwithstanding  the fact that this Section 5 provides for indemnification
in  such  case, or (ii) contribution under the Securities Act may be required on
the part of the Purchaser or such officer, director or controlling person of the
Purchaser  in  circumstances  for  which  indemnification is provided under this
Section  5;  then,  and  in  each  such case, the Company and the Purchaser will
contribute to the aggregate losses, claims, damages or liabilities to which they
may  be  subject (after contribution from others) in such proportion so that the
Purchaser is responsible only for the portion represented by the percentage that
the  public  offering  price  of  its  securities  offered  by  the Registration
Statement  bears  to the public offering price of all securities offered by such
Registration  Statement,  provided,  however,  that,  in  any such case, (A) the
Purchaser  will not be required to contribute any amount in excess of the public
offering  price  of  all  such  securities  offered  by  it  pursuant  to  such
Registration  Statement;  and  (B)  no  person  or  entity  guilty of fraudulent
misrepresentation  (within  the  meaning  of  Section  10(f) of the Act) will be
entitled  to  contribution  from any person or entity who was not guilty of such
fraudulent  misrepresentation.

     6.     Representations  and  Warranties.
            --------------------------------

          6.1     The  Common  Stock  of  the  Company is registered pursuant to
Section  12(b)  or 12(g) of the Exchange Act and, except with respect to certain
matters which the Company has disclosed to the Purchaser on Schedule 4.21 to the
Securities  Purchase  Agreement,  the  Company  has  timely  filed  all  proxy
statements,  reports,  schedules, forms, statements and other documents required
to  be  filed  by  it  under  the  Exchange  Act.  The

                                        7
<PAGE>
Company  has  filed  (i)  its  Annual Report on Form 10-KSB for its fiscal years
ended December 31, 2002 and [December 31, 2003] and (ii) its Quarterly Report on
Form  10-QSB  for the fiscal quarter ended September 30, 2003 (collectively, the
"SEC  Reports").  Each SEC Report was, at the time of its filing, in substantial
compliance  with  the  requirements  of  its respective form and none of the SEC
Reports,  nor  the  financial statements (and the notes thereto) included in the
SEC Reports, as of their respective filing dates, contained any untrue statement
of  a  material  fact  or omitted to state a material fact required to be stated
therein  or  necessary  to  make  the  statements  therein,  in  light  of  the
circumstances  under  which  they  were  made,  not  misleading.  The  financial
statements  of  the Company included in the SEC Reports comply as to form in all
material  respects  with  applicable  accounting  requirements and the published
rules  and  regulations  of  the  Commission  or  other  applicable  rules  and
regulations  with  respect thereto. Such financial statements have been prepared
in  accordance with generally accepted accounting principles ("GAAP") applied on
a  consistent  basis during the periods involved (except (i) as may be otherwise
indicated  in such financial statements or the notes thereto or (ii) in the case
of unaudited interim statements, to the extent they may not include footnotes or
may  be  condensed)  and  fairly  present in all material respects the financial
condition,  the  results of operations and the cash flows of the Company and its
subsidiaries,  on a consolidated basis, as of, and for, the periods presented in
each  such  SEC  Report.

          6.2     The  Common  Stock  is traded on the NASD BB and satisfies all
requirements for the continuation of such trading.  The Company has not received
any  notice  that its Common Stock will not be eligible to be traded on the NASD
BB  (except for prior notices which have been fully remedied) or that the Common
Stock  does  not  meet  all  requirements  for the continuation of such trading.

          6.3     Neither the Company, nor any of its affiliates, nor any person
acting  on  its  or  their behalf, has directly or indirectly made any offers or
sales  of  any  security  or  solicited  any  offers  to  buy any security under
circumstances  that  would  cause the offering of the Securities pursuant to the
Securities  Purchase  Agreement  to  be  integrated  with prior offerings by the
Company  for purposes of the Securities Act which would prevent the Company from
selling  the  Common Stock pursuant to Rule 506 under the Securities Act, or any
applicable  exchange-related  stockholder  approval  provisions,  nor  will  the
Company  or  any of its affiliates or subsidiaries take any action or steps that
would  cause  the  offering  of  the  Securities  to  be  integrated  with other
offerings.

          6.4     The  Warrants,  the  Note and the shares of Common Stock which
the  Purchaser  may  acquire  pursuant  to  the  Warrants  and  the Note are all
restricted securities under the Securities Act as of the date of this Agreement.
The  Company  will not issue any stop transfer order or other order impeding the
sale  and  delivery  of  any  of the Registrable Securities at such time as such
Registrable  Securities  are  registered  for  public  sale or an exemption from
registration  is  available,  except  as required by federal or state securities
laws.

                                        8
<PAGE>
          6.5     The  Company  understands  the  nature  of  the  Registrable
Securities  issuable  upon  the  conversion  of the Note and the exercise of the
Warrant and recognizes that the issuance of such Registrable Securities may have
a  potential  dilutive  effect.  The  Company specifically acknowledges that its
obligation  to  issue the Registrable Securities is binding upon the Company and
enforceable  regardless  of the dilution such issuance may have on the ownership
interests  of  other  shareholders  of  the  Company.

          6.6     Except for agreements made in the ordinary course of business,
there  is no agreement that has not been filed with the Commission as an exhibit
to  a  registration  statement  or to a form required to be filed by the Company
under the Exchange Act, the breach of which could reasonably be expected to have
a  material  and  adverse  effect  on the Company and its subsidiaries, or would
prohibit  or  otherwise  interfere with the ability of the Company to enter into
and perform any of its obligations under this Agreement in any material respect.

          6.7     The  Company  will at all times have authorized and reserved a
sufficient  number of shares of Common Stock for the full conversion of the Note
and  exercise  of  the  Warrants.

     7.     Miscellaneous.
            -------------

          7.1     Remedies.  In  the  event  of  a breach by the Company or by a
                  --------
Holder, of any of their respective obligations under this Agreement, each 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.

          7.2     No  Piggyback  on  Registrations.  Except as and to the extent
                  --------------------------------
specified  in  Schedule 7(b) hereto, neither the Company nor any of its security
holders  (other  than  the Holders in such capacity pursuant hereto) may include
securities  of  the  Company  in  any  Registration  Statement  other  than  the
Registrable  Securities,  and  the Company shall not after the date hereof enter
into  any  agreement  providing  any  such  right for inclusion of shares in the
Registration  Statement  to  any  of  its security holders. Except as and to the
extent specified in Schedule 7(b) hereto, the Company has not previously entered
into  any  agreement granting any registration rights with respect to any of its
securities  to  any  Person  that  have  not  been  fully  satisfied.

          7.3     Compliance.  Each  Holder  covenants  and  agrees that it will
                  ----------
comply  with  the  prospectus  delivery  requirements  of  the Securities Act as
applicable  to it in connection with sales of Registrable Securities pursuant to
the  Registration  Statement.

          7.4     Discontinued  Disposition.  Each  Holder  agrees  by  its
                  -------------------------
acquisition  of  such Registrable Securities that, upon receipt of a notice from
the  Company  of  the  occurrence of a Discontinuation Event (as defined below),
such  Holder  will  forthwith  discontinue  disposition  of  such  Registrable
Securities  under  the  applicable  Registration  Statement  until such Holder's
receipt  of  the  copies  of  the  supplemented  Prospectus  and/or

                                        9
<PAGE>
amended  Registration Statement 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.  The  Company  may  provide  appropriate stop orders to
enforce  the  provisions of this paragraph. For purposes of this Section 7(d), a
"Discontinuation  Event" shall mean (i) 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 (the Company shall
provide  true  and  complete copies thereof and all written responses thereto to
each of the Holders); (ii) any request by the Commission or any other Federal or
state  governmental authority for amendments or supplements to such Registration
Statement or Prospectus or for additional information; (iii) the issuance by the
Commission  of  any stop order suspending the effectiveness of such Registration
Statement covering any or all of the Registrable Securities or the initiation of
any  Proceedings  for  that  purpose;  (iv)  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/or  (v)  the occurrence of any event or passage of time that makes
the  financial statements included in such Registration Statement ineligible for
inclusion  therein  or  any  statement  made  in  such 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
such  Registration  Statement  or  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  light  of  the  circumstances  under  which  they were made, not misleading.

          7.5     Piggy-Back  Registrations.  If  at  any  time  during  the
                  -------------------------
Effectiveness  Period  there is not an effective Registration Statement covering
all of the Registrable Securities and 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, then the Company shall send to each Holder written notice of such
determination and, if within fifteen days after receipt of such notice, any such
Holder  shall  so  request  in  writing,  the  Company  shall  include  in  such
registration  statement  all  or  any  part  of such Registrable Securities such
holder  requests  to  be  registered to the extent the Company may do so without
violating  registration  rights  of  others  which  exist as of the date of this
Agreement,  subject  to customary underwriter cutbacks applicable to all holders
of  registration rights and subject to obtaining any required the consent of any
selling stockholder(s) to such inclusion under such registration statement.

                                       10
<PAGE>
          7.6     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 the then outstanding Registrable Securities. Notwithstanding
the  foregoing,  a  waiver  or consent to depart from the provisions hereof with
respect  to  a  matter that relates exclusively to the rights of certain Holders
and  that does not directly or indirectly affect the rights of other Holders may
be  given  by  Holders  of  at least a majority of the Registrable Securities to
which  such waiver or consent relates; provided, however, that the provisions of
this sentence may not be amended, modified, or supplemented except in accordance
with  the  provisions  of  the  immediately  preceding  sentence.

          7.7     Notices.  Any  notice or request hereunder may be given to the
                  -------
Company  or  the Purchaser at the respective addresses set forth below or as may
hereafter  be specified in a notice designated as a change of address under this
Section  7(g).  Any  notice or request hereunder shall be given by registered or
certified mail, return receipt requested, hand delivery, overnight mail, Federal
Express  or  other national overnight next day carrier (collectively, "Courier")
or  telecopy (confirmed by mail).  Notices and requests shall be, in the case of
those by hand delivery, deemed to have been given when delivered to any party to
whom  it is addressed, in the case of those by mail or overnight mail, deemed to
have  been  given  three  (3) business days after the date when deposited in the
mail  or  with  the  overnight  mail carrier, in the case of a Courier, the next
business  day following timely delivery of the package with the Courier, and, in
the  case  of  a  telecopy,  when  confirmed.  The  address for such notices and
communications  shall  be  as  follows:

          If to the Company:     Sequiam Corporation
                                 300  Sunport  Lane
                                 Orlando,  FL  32809

                                 Attention:  Mark L. Mroczkowski
                                 Facsimile:  407-240-1431

                                 with a copy to:
                                 Greenberg  Traurig, P.A.
                                 450 South Orange Avenue, Suite 650
                                 Orlando, Florida  32801
                                 Attention:  Randolph Fields, Esq.
                                 Facsimile:      407-650-8472

          If to a Purchaser:     To the address set forth under such
                                 Purchaser name on the signature pages
                                 hereto.

                                       11
<PAGE>

          If to any other Person who is
          then the registered Holder:     To the address of such Holder as it
                                          appears in the stock transfer books of
                                          the Company

     or  such  other  address  as  may  be  designated  in  writing hereafter in
     accordance  with  this  Section  7(g)  by  such  Person.

          7.8     Successors  and  Assigns.  This  Agreement  shall inure to the
                  ------------------------
benefit  of  and be binding upon the successors and permitted assigns of each of
the  parties  and shall inure to the benefit of each Holder. The Company may not
assign  its rights or obligations hereunder without the prior written consent of
each  Holder.  Each  Holder  may assign their respective rights hereunder in the
manner  and  to  the  Persons  as  permitted  under  the  Notes and the Security
Agreement with the prior written consent of the Company, which consent shall not
be  unreasonably  withheld.

          7.9     Execution and 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.  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.

          7.10     Governing  Law.  All  questions  concerning the construction,
                   --------------
validity,  enforcement and interpretation of this Agreement shall be governed by
and  construed and enforced in accordance with the internal laws of the State of
New  York,  without  regard  to the principles of conflicts of law thereof. Each
party  agrees  that  all Proceedings concerning the interpretations, enforcement
and  defense  of  the  transactions  contemplated  by  this  Agreement  shall be
commenced exclusively in the state and federal courts sitting in the City of New
York,  Borough of Manhattan. Each party hereto hereby irrevocably submits to the
exclusive  jurisdiction  of  the state and federal courts sitting in the City of
New  York, Borough of Manhattan for the adjudication of any dispute hereunder or
in  connection herewith or with any transaction contemplated hereby or discussed
herein,  and  hereby  irrevocably  waives,  and  agrees  not  to  assert  in any
Proceeding,  any  claim that it is not personally subject to the jurisdiction of
any  such  court,  that  such  Proceeding is improper.  Each party hereto hereby
irrevocably  waives  personal  service  of process and consents to process being
served  in  any  such  Proceeding  by  mailing  a copy thereof via registered or
certified  mail  or overnight delivery (with evidence of delivery) 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 contained herein shall be deemed to limit in any way any right
to  serve  process  in  any  manner  permitted  by law. Each party hereto hereby
irrevocably  waives,  to the fullest extent permitted by applicable law, any and
all right to trial by jury in any legal proceeding arising out of or relating to
this  Agreement  or  the transactions contemplated hereby. If either party shall
commence  a Proceeding to enforce any provisions of a Transaction Document, then
the  prevailing  party  in  such  Proceeding  shall  be  reimbursed

                                       12
<PAGE>
by  the  other  party  for  its  reasonable  attorneys  fees and other costs and
expenses  incurred  with  the investigation, preparation and prosecution of such
Proceeding.

          7.11     Cumulative  Remedies.  The  remedies  provided  herein  are
                   --------------------
cumulative and not exclusive of any remedies provided by law.

          7.12     Severability.  If  any  term,  provision,  covenant  or
                   ------------
restriction of this Agreement is held by a court of competent jurisdiction to be
invalid, illegal, void or unenforceable, 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.

          7.13     Headings.  The headings in this Agreement are for convenience
                   --------
of reference only and shall not limit or otherwise affect the meaning hereof.

                   [BALANCE OF PAGE INTENTIONALLY LEFT BLANK;
                             SIGNATURE PAGE FOLLOWS]

                                       13
<PAGE>
     IN  WITNESS  WHEREOF,  the  parties  have executed this Registration Rights
Agreement as of the date first written above.

Sequiam  Corporation                 Laurus  Master  Fund,  Ltd.

By:                                  By:
       --------------------------           ---------------------------
Name:                                Name:
       --------------------------         -----------------------------
Title:                               Title:
       --------------------------           ---------------------------

                                     Address for Notices:

                                     825 Third Avenue 14th Floor
                                     New York, NY  10022
                                     Attention:  David  Grin
                                     Facsimile:  212-541-4434

                                       14
<PAGE>
                                    EXHIBIT A

                                [Month __, 2004]

Pacific Stock Transfer
 Company
500 E. Warm Springs Road
Suite 240
Las  Vegas,  NV  89119
Attn:  Valarie Killius

          Re:  Sequiam Corporation.  Registration Statement on Form SB-2
               ---------------------------------------------------------

Ladies and Gentlemen:

     As  counsel  to  Sequiam  Corporation,  a  California  corporation  (the
"Company"),  we  have  been requested to render our opinion to you in connection
with  the  resale  by  the individuals or entitles listed on Schedule A attached
hereto  (the  "Selling  Stockholders"),  of an aggregate of [amount] shares (the
"Shares")  of  the  Company's  Common  Stock.

     A  Registration Statement on Form SB-2 under the Securities Act of 1933, as
amended  (the  "Act"),  with  respect  to  the resale of the Shares was declared
effective  by the Securities and Exchange Commission on [date].  Enclosed is the
Prospectus  dated  [date].  We  understand that the Shares are to be offered and
sold  in  the  manner  described  in  the  Prospectus.

     Based  upon  the foregoing, upon request by the Selling Stockholders at any
time  while the registration statement remains effective, it is our opinion that
the  Shares  have  been registered for resale under the Act and new certificates
evidencing  the  Shares  upon  their  transfer or re-registration by the Selling
Stockholders  may  be  issued without restrictive legend.  We will advise you if
the  registration  statement  is  not available or effective at any point in the
future.

                                Very truly yours,

                                Greenberg Traurig, P.A.

                                       15
<PAGE>
                                   SCHEDULE A

Selling Stockholder                                             Shares
-------------------                                          Being Offered
                                                             -------------

                                       16
<PAGE>

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