Document:

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                                  EXHIBIT 10.1

         Regulation  S Stock  Purchase  Agreement,  dated  as of  Apri129,  2003
between Reality Wireless Networks,  Inc., a Nevada corporation having offices at
120 West Campbell, Suite E, Campbell,  California 95008 USA (the "Company"), and
Ischian Holdings, Ltd. a British Virgin Islands, International business company,
the registered  address of which is PO Box 961,30 De Castro  Street,  Road Town,
Tortola, British Virgin Islands ("the Purchaser").

                                          ARTICLE I
                        PURCHAS, SALE AND TERMS OF SHARES

         1.1      The Company  agrees to issue and sell to the  Purchaser  in an
                  offshore  transaction  negotiated  outside the U.S.  and to be
                  consummated and closed outside the U.S. and. in  consideration
                  of  and  in  express   reliance   upon  the   representations,
                  warranties, covenants, terms and conditions of this Agreement,
                  the Purchaser  agrees to purchase,  subject to the  conditions
                  hereinafter  set  forth,  from the  Company  up to  10,000,000
                  shares (the  "Shares") of the company at a per share  purchase
                  price  which  shall be 25% of the bid  price of the  Company's
                  shares of Common  Stock as  quoted on the OTC  Bulletin  Board
                  (the "OTCBB") (or on such other United  States stock  exchange
                  or public  trading  market on which the shares of the  Company
                  trade if, at the time of purchase, they ate not trading on the
                  OTCBB) for the five (5) consecutive  trading days  immediately
                  preceding  the date (the "Call Date") the purchase  order (the
                  "Purchase  Notice") is received by the Company (the  "Purchase
                  Price"). There will be no minimum floor price.

         1.2      PRICE;  CLOSING. The transaction will be closed in an offshore
                  transaction,  and the Purchaser will pay the Purchase Price by
                  wire transfer of immediately available funds within 5 business
                  days upon receipt of the share certificate(s). Purchaser shall
                  initiate  the  closing  process by sending a written  purchase
                  notice to Seller at the address set forth below (the "Purchase
                  Notice").  The  Purchase  Notice shall set forth the number of
                  Shares to be purchased,  the total  consideration  to be paid,
                  the price per share  and the  delivery  address  for the share
                  certificates (the "Closing").

         1.3      DELIVERY OF PURCHASE NOTICE. Purchaser shall have 90 days form
                  the date of this  Agreement  to deliver  one or more  Purchase
                  Notices to Seller.  A Purchase Notice may be for all or a part
                  of the shares set forth in Section  1.1 above.  Purchaser  may
                  deliver more than one Purchase Notice,  provided however, that
                  number of shares  purchased  pursuant to all Purchase  Notices
                  shall not  exceed  the  number of Shares  set forth in Section
                  1.1.

         1.4      COVENANT OF BEST EFFORTS. The Purchaser agrees to use its best
                  efforts to purchase up to 10,000,000  shares  between the date
                  hereof and October 31, 2003. Purchaser shall only be liable to
                  purchase  the  number  of Shares  set  forth in each  Purchase
                  Notice.

         1.5      REPRESENTATIONS  BY THE  PURCHASER.  The  Purchaser  makes the
                  following representations and warranties to the Company:

                  A.       ACCESS TO INFORMATION.  The Purchaser,  in making the
                           decision to purchase the Shares,  has relied upon the
                           representations  and  warranties  contained  in  this
                           Agreement as well as independent  investigations made
                           by  it  and/or  its  representatives,   if  any.  The
                           Purchase and/or its representatives during the course
                           of this transaction, and prior to the purchase of any
                           Shares,  has had the  opportunity to ask questions of
                           and  receive  answers  from  the  management  of  the
                           Company concerning the business of the Company and to
                           receive  any   additional   information,   documents,
                           records  and  books  relationship  to  the  business,
                           assets,  financial  condition,  results of operations
                           and  1iabilities  (contingent  or  otherwise)  of the
                           Company.

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                  B.       SOPHISTICATION  AND KNOWLEDGE.  The Purchaser  and/or
                           its representatives has such knowledge and experience
                           financial and business  matters that it can represent
                           itself and is capable  of  evaluating  the merits and
                           risks of the purchase of the Shares. The Purchaser is
                           not  relying on the Company  with  respect to the tax
                           and other economic considerations of an investment in
                           the  Shares,  and the  Purchaser  has  relied  on the
                           advice   of,  or  has   consulted   with,   only  the
                           Purchaser's own advisor(s).  The Purchaser represents
                           that it has not been  organized  for the  purpose  of
                           acquiring the Shares.

                  C.       LACK OF LIQUIDITY.  The Purchaser  acknowledges  that
                           the purchase of the Shares  involves a high degree of
                           risk  and  further  acknowledges  that  it  can  bear
                           economic   risk  of  the   purchase  of  the  Shares,
                           including  loss  of  its  investment,  The  Purchaser
                           acknowledges  and understands that the Shares may not
                           be sold to a U.S. Person (as hereinafter  defined) or
                           into the  United  States for a period of one (1) year
                           from the date of purchase and that at  Purchaser  has
                           no present need for liquidity in connection  with its
                           purchase of the Shares.

                  D.       NO  PUBLIC   SOLICITATION.   The   Purchaser  is  not
                           subscribing   for  the  Shares  as  a  result  of  or
                           subsequent to any advertisement,  article,  notice or
                           other  communication   published  in  any  newspaper,
                           magazine   or  similar   media  or   broadcast   over
                           television  or radio,  or presented at any seminar or
                           meeting,  or any  solicitation of a subscription by a
                           person  not  previously  known  to the  Purchaser  in
                           connection with investments in securities  generally.
                           Neither the Company nor the  Purchaser has engaged in
                           any "Directed Selling Efforts in the U.S." as defined
                           in Regulation S  promulgated  by the  Securities  and
                           Exchange   Commission   ("SEC")   pursuant   to   The
                           Securities Act of 1933 (the "Securities Act").

                  E.       AUTHORITY.  The Purchaser has full right and power to
                           enter into and perform pursuant to this Agreement and
                           make an investment in the Company and this  Agreement
                           constitutes  fees the  Purchaser's  valid  and  legal
                           binding  ob1igation,  enforceable in accordance  with
                           its terms.  The Purchaser is authorized and otherwise
                           duly qualified to purchase and hold the Shares and to
                           enter into this Agreement.

                  F.       BROKERS OR FINDERS.  No person has or will have, as a
                           result  of  the  transactions  contemplated  by  this
                           Agreement, any right, interest or valid claim against
                           or upon the Company for any commission,  fee or other
                           compensation as a finder or broker because of any act
                           or  omission  by  such  Purchaser  or its  respective
                           agents.

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                  G.       REQUIREMENTS  FOR  TRANSFER.Purchaser  agrees that it
                           will not  transfer the Share,  and the Company  shall
                           not be  required to  transfer  the shares  unless the
                           transferee    executes   a   representation    letter
                           substantially in accordance with Exhibit A hereto.

                  H.       COMPLIANCE  WITH LOCAL LAWS. Any resale of the Shares
                           during  the  `distribution   compliance   period'  as
                           defined in Rule 902(f) to  Regulation S shall only be
                           made in compliance with exemptions from  registration
                           afforded by Regulation  S. Further,  any such sale of
                           the Shares in any jurisdiction  outside of the United
                           States will be made in compliance with the securities
                           laws or such  jurisdiction.  Purchaser will not offer
                           to sell the  Shares in any  jurisdiction  unless  the
                           Purchaser obtains all required consents, if any.

                  I.       REGULATION  S EXEMPTION.  The  Purchase  (understands
                           that the,  Shares are being offered and so1d to it in
                           reliance  on  an  exemption  from  the   registration
                           requirements  of  United  States  federal  and  state
                           securities laws under Regulation S promulgated  under
                           the  Securities  Act and that the  Company is relying
                           upon the truth and  accuracy of the  representations,
                           warranties,    agreements,     acknowledgments    and
                           understanding  of the  Purchaser  set forth herein in
                           order  to  determine   the   applicability   of  such
                           exemptions  and the  suitability  of the Purchaser to
                           acquire the Shares.  In this  regard,  the  Purchaser
                           represents, warrants and agrees that:

                           a.       The  purchaser  is  not a  U.S.  Person  (as
                                    defined  below) and is not an affiliate  (as
                                    defined in Rule 501(b) under the  Securities
                                    Act) of the company. A U.S. Person means any
                                    one of the following:

                                    i        any natural person  resident in the
                                             United States of America;

                                    ii       any   partnership   or  corporation
                                             organized or incorporated under the
                                             laws  of  the   United   States  of
                                             America;

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

                                    iv       any trust of which any trustee is 9
                                             U.S. person:

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

                                    vi       any  non-discretionary  account  or
                                             similar   account  (other  than  an
                                             estate or  trust)  held by a dealer
                                             or other  fiduciary for the benefit
                                             or account of a U.S. person;

                                    vii      any   discretionary    account   or
                                             similar   account  (other  than  an
                                             estate or  trust)  held by a dealer
                                             or   other   fiduciary   organized,
                                             incorporated  or (if an individual)
                                             resident  in the  United  States of
                                             America; and

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                                    viii     any partnership or corporation if:

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

                                               (2)        formed   by   a   U.S.
                                                          person principally for
                                                          the     purpose     of
                                                          investing           in
                                                          securities         not
                                                          registered  under  the
                                                          Securities Act, unless
                                                          it  is   organized  or
                                                          incorporated owned, by
                                                          accredited   investors
                                                          (as  defined  in  Rule
                                                          5Ol(a)    under    the
                                                          Securities   Act)  who
                                                          are    not     natural
                                                          persons,   estates  or
                                                          trusts.

                  b.       At the time of the origination of contact  concerning
                           this  Agreement  and the  date of the  execution  and
                           delivery of this Agreement, the Purchaser was outside
                           of the United States.

                  c.       The Purchaser  will not during the period  commencing
                           on the date of  issuance  of the Shares and ending on
                           the first  anniversary  or such date, or such shorter
                           period as may be permitted  by  Regulation S or other
                           applicable  securities law (the "Restricted Period"),
                           offer,  se1l, pledge or otherwise transfer the shares
                           in the  United  States,  or to a U.S.  Person for the
                           account  or for  the  benefit  of a U.S.  Person,  or
                           otherwise in a manner that is not in compliance  with
                           Regulation S.

                  d.       The   Purchaser   will,   after   expiration  of  the
                           Restricted  Period,  offer, sell, pledge or otherwise
                           transfer  the Shares only  pursuant  to  registration
                           under the  Securities  Act or an available  exemption
                           therein and, in accordance with all applicable  state
                           and foreign securities laws.

                  e.       The Purchaser has not in the United  States,  engaged
                           in,  and prior to the  expiration  of the  Restricted
                           Period will not engage in, any short selling of or my
                           hedging  transaction  with  respect  to  the  Shares,
                           including without limitat1on.  any put, call or other
                           option transaction, option writing or equity swap.

                  f.       Neither the Purchaser nor or any person acting on its
                           behalf has engaged,  nor will engage, in any directed
                           selling  efforts to a U.S. Person with respect to the
                           Shares and the Purchaser and any person acting on its
                           behalf  have   complied  and  will  comply  with  the
                           "offering  restriction"  requirements of Regulation S
                           under the Securities Act.

                  g.       The transactions  contemplated by this Agreement have
                           not been  pre-arranged  with a buyer  located  in the
                           United States or with a U.S. Person, and are not part
                           of  a  plan  or  scheme   to  evade  the   Securities
                           requirements of the Securities Act.

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                  h.       Neither the  Purchaser  nor any person  acting on its
                           behalf has undertaken or carried out any activity for
                           the purpose of, or that could  reasonably be expected
                           to have the effect of conditioning  the market in the
                           United States,  its territories or  possessions,  for
                           any of the Shares.  The Purchaser agrees not to cause
                           any  advertisement  of the Shares to be  published in
                           any  newspaper or  periodical or posted in any public
                           place and not to issue any  circular  relating to the
                           Shares  except such  advertisement  that  include the
                           statements   required  by   Regulation  S  under  the
                           Securities Act, and Only offshore and not in the U.S.
                           or its  territories,  and only in compliance with any
                           local applicable securities laws.

                  i.       Each  certificate  representing  the Shares  shall be
                           endorsed with the following  legends,  in addition to
                           any other  legend  required  to be placed  thereon by
                           applicable federal or state securities laws:

                           (A)      "THE SHARES ARE BEING  OFFERED TO  INVESTORS
                                    WHO ARE NOT  U.S.  PERSONS  (AS  DEFINED  IN
                                    REGULATION  S UNDER  THE  SECURITIES  ACT OF
                                    1933, AS AMENDED ("THE SECURITIES ACT")) AND
                                    WITHOUT  REGISTRATION WITH THE UNITED STATES
                                    SECURITIES AND EXCHANGE COMMISSION UNDER THE
                                    SECURITIES ACT IN RELIANCE UPON REGULATION S
                                    PROMULGATED UNDER THE SECURITIES ACT."

                           (B)      "TRANSFER  OF THESE  SHARES  IS  PROHIBITED,
                                    EXCEPT IN ACCORDANCE  WITH THE PROVISIONS OF
                                    REGULATION S. PURSUANT TO REGISTRATION UNDER
                                    THE SECURITIES ACT, OR PURSUANT TO AVAILABLE
                                    EXEMPTION   FROM    REGISTRATION.    HEDGING
                                    TRANSACTIONS  MAY NOT BE CONDUCTED UNLESS IN
                                    COMPLIANCE WITH THE SECURITIES ACT. "

                  j.       The  Purchaser  consents  to  the  Company  making  a
                           notation on its records or giving instructions to any
                           transfer  agent of the Company in order to  implement
                           the  restrictions on transfer of the Shares set forth
                           in this Section 1.5.

                  k.       The  Purchaser and any  transferees  of the shares of
                           the Company's Common Stock purchased by the Purchaser
                           pursuant  to this  Agreement  shall  not be  named or
                           identified  on any  lists of the  Office  of  Foreign
                           Assets  Control who are  prohibited  from  purchasing
                           securities of U.S. domestic companies/ Further,  this
                           transaction and any resale of shares by the Purchaser
                           to  transferees  shall  not  violate  the  anti-money
                           laundering  and other  provisions of the Bank Secrecy
                           Act, as amended by the U.S. Patriot Act.

                  l.       Notwithstanding  anything  contained  herein  to  the
                           contrary,  the  Company  may refuse to  register  any
                           transfer of the shares of common stock of the Company
                           that are not made in  accordance  with  Regulation  S
                           pursuant  to  the  registration   under  the  Act  or
                           pursuant to an available exemption from registration.

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                                   ARTICLE II

                            COVENANTS OF THE COMPANY

         2.1      OPERATIONS.  From and after the date hereof  through the final
                  purchase of the shares,  the Company  will operate only in the
                  ordinary course of business.

         2.2      INSPECTION.    The    Company    shall    permit    authorized
                  representatives  of the  Purchaser to visit and inspect any of
                  the properties of the Company,  including its books of account
                  (and to make copies:  thereof and take  extracts  there from),
                  and to discuss its affairs,  finances  and  accounts  with its
                  officers, employees, independent accountants,  consultants and
                  attorneys, all at such reasonable times and as often as may be
                  reasonably requested.

         2.3      SHARE  REGISTRY;  REMOVAL OF LEGEND.  The Company  consents to
                  Purchaser  reselling  Shares and to requesting the issuance of
                  share  certificates to third parties provided however that all
                  such sales are conducted in full  compliance with Regulation S
                  and the  Company  and its  transfer  agent are  advised of the
                  identity  of ach  subsequent  purchaser.  Shares for which the
                  Regulation S distribution  compliance period has expired shall
                  be delivered free of any Regulation legend. The Company agrees
                  that it shall  instruct  its transfer  agent to  automatically
                  remove any legend required by Regulation S upon the expiration
                  of the  distribution  compliance  period.  Holder's  of shares
                  bearing a Regulation  S legend may have the legend  removed by
                  submitting  certificate(s)  together  with an  affidavit as to
                  ownership  and  expiration  of  the  distribution   compliance
                  period. Neither the Company nor the stock transfer agent shall
                  be  obligation  to remove  any other  legend  required  by law
                  solely by reason of this Article 2.3.

                                   ARTICLE III

                    REPRESENTATIONS AND WARRANTIES OF THE COMPANY

         The Company represents and warrants to the Purchaser as follows,  which
representations  and  warranties  shall  be true  and  correct  in all  material
respects on the date of each closing of the purchase of: the Shares:

         3.1      ORGANIZATION   AN   STANDING   .The   Company  has  been  duly
                  incorporated  and is  validly  existing  and in good  standing
                  under  the  laws of the  state  of  Nevada  and has  requisite
                  corporate power and authority  necessary to own its properties
                  and
         to       conduct its business as presently  conducted,  to deliver this
                  Agreement and all other agreements  required to be executed by
                  the  Company  in  connection  with   performance   under  this
                  Agreement  (collectively,   the  "Ancillary  Agreements",  and
                  collectively    with   this   Agreement,    the   "Transaction
                  Documents"), to issue and sell the Shares and to carry out the
                  provisions  of  Transaction  Documents.  The  Company  is duly
                  qualified to transact business as a foreign corporation and is
                  in good standing in every jurisdiction in which the failure to
                  so  qualify  would  have  material   adverse   effect  on  the
                  operations or financial conditions of the Company.

         3.2      AUTHORITY  FOR  AGREEMENT.  The  execution and delivery by the
                  Company of the Transaction  Documents,  and the performance by
                  the company of its obligations there under, have been duly and
                  validly  authorized by all requisite  corporate  action on the
                  part of the Company. The Transaction Documents,  when executed
                  and delivered,  will be legally valid and binding  obligations
                  of the company,  enforceable against the Company in accordance
                  with their terms, except as limited by applicable  bankruptcy,
                  insolvency,  reorganization,   moratorium  or  other  laws  of
                  general  application   affecting   enforcement  of  creditors'
                  rights,  and general  principles  of equity that  restrict the
                  availability   of  equitable   remedies.   To  the   Company's
                  knowledge,  the  execution  and  delivery  of the  Transaction
                  Documents  by the  Company of its  obligations  there under do
                  not, as of the date hereof,  (i) conflict  with or violate the
                  provisions of the Company's  Restated Charter or Bylaws,  (ii)
                  require on the part of the  Company  any filing  with,  or any
                  permit, authorization,  consent or approval of, any Government
                  Entity, (iii) conflict with, result in a breach of, constitute
                  (with  or  without  due  notice  or  lapse  of time or both) a
                  default under,  result in the  acceleration  of, create in any
                  party the right to accelerate, terminate, modify or cancel, or
                  require any notice,  consent or waiver  under,  any  contract,
                  lease,  sublease,  license;  sublicense,   franchise,  permit,
                  indenture,  agreement or mortgage for borrow money, instrument
                  of  indebtedness,  lien,  encumbrance or other  arrangement to
                  which the  Company is a party or by which the Company is bound
                  or to  which  its  assets  are  subject,  (iv)  result  in the
                  imposition  of any  Security  Interest  upon any assets of the
                  Company  or  (v)  vio1ate  or  contravene  any  United  States
                  federal, Nevada corporate or applicable state statute, rule or
                  regulation  applicable  to the  Company  or any  order,  writ,
                  judgment, injunction, decree, determination or award.

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         3.3      SECURITIES  LAW  FILINGS,  ETC.  The  Company  has  previously
                  furnished  to the  Investors  the  Company's  filings with the
                  Securities and Exchange Commission as on the attached schedule
                  3.3 (collectively the "SEC Filings".).  The SEC Filings, as of
                  the date of the filing  thereof with the SEC,  complied in all
                  material  respects  with  the  provisions  of  the  Securities
                  Exchange Act of 1934 (the  "Exchange  Act"),  and in each case
                  the rules and,  regulations  promulgated the  thereunder,  and
                  none of such  filings  contained  any  untrue  statement  of a
                  material  fact or omitted to state any material  fact required
                  to be  stated  therein  or  necessary  to make the  statements
                  therein, in light of circumstances under which they were made,
                  not misleading.

         3.4      CAPITALIZATION   AND  ISSUANCES  OF  STOCK.  The  Company  has
                  authorized and  outstanding  capital stock as set forth in its
                  SEC Filings.  All  outstanding  shares of capital stock of the
                  Company are duly  authorized,  validly issued and outstanding,
                  fully paid and  nonassessable,  Except as set forth in the SEC
                  Filings:   (i)  there  are  no  outstanding   options,   stock
                  subscription  agreements,  warrants or other rights permitting
                  or requiring  the Company or others to purchase or acquire any
                  shares of  capital  stock or other  equity  securities  of the
                  Company;  (ii) there are no securities  issued or  outstanding
                  which  are  convertible  into or  exchangeable  for any of the
                  foregoing   and  there  are  no  contracts,   commitments   or
                  understandings,  whether or not in writing,  to issue or grant
                  any such option, warrant, right or convertible or exchangeable
                  security;  (iii)  there  are  no  shares  of  stock  or  other
                  securities  of the  company  reserved  for  issuance  for  any
                  purpose;  (iv) there are no voting trusts or other  contracts,
                  commitments,  understandings,  arrangements or restrictions of
                  any kind with respect to the ownership,  voting or transfer of
                  shares of stock or other  securities  of the  Company to which
                  the Company or, to the best of the  Company's  knowledge,  any
                  stock  holder of the  company  is a party,  including  without
                  limitation,  any preemptive  rights,  rights of first refusal,
                  proxies  or  similar  rights  and (v) there is not  person who
                  holds  a  right  to  require  the  Company  to  register   any
                  securities  of the  Company  under  the  Securities  Act or to
                  participate   in  any  such   registration.   The  issued  and
                  outstanding  shares of capital stock of the company conform to
                  all  statements  in  relation  thereto  contained  in the  SEC
                  filings,  and the SEC Filings  describe all material terms and
                  condition  thereof.  All  issuances  by  the  Company  of  its
                  securities were exempt from registration  under the Securities
                  Act and any applicable  state  securities  laws or were issued
                  pursuant to a registration statement declared effective by the
                  SEC under the Securities Act and which registration  statement
                  was  available  for the  sole of the type of  securities  sold
                  thereunder.

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         3.5      SUBSIDIARIES. The Company has no subsidiaries.

         3.6      ISSUANCE OF SECURITIES. The issuance, sale and delivery of the
                  Securities in accordance  with this  Agreement,  have been, or
                  will be on or prior to the Closing,  duly authorized,  and the
                  Shares reserved for issuance by all necessary corporate action
                  on the part of the Company.  The  Securities,  when so issued,
                  sold and  delivered  against  payment  therefore in accordance
                  with the provisions of this Agreement will be duty and validly
                  issued, fully paid and non-assessable, and wi1l be free of all
                  liens,  charges,  claims,  encumbrances  and  restrictions  on
                  transfer  other than the  restrictions  on transfer  under the
                  Transaction  Documents and under  applicable state and federal
                  securities laws.

         3.7      GOVERNMENTAL   CONSENTS.  No  consent,   approval,   order  or
                  authorization of, or registration qualification,  designation,
                  declaration  or  filing,  with,  any  governmental  entity  or
                  regulatory body (a  "Governmental  Entity") is required on the
                  part of the  Company  in  connection  with the  execution  and
                  delivery of the Transaction Documents,  the offer, issue, sale
                  and delivery of the Securities or the other transactions to be
                  consummated  as   contemplated   by  this   Agreement   except
                  qualification  or filings under the  Securities  Act and other
                  applicable  state  securities  laws  which  qualifications  or
                  filings,  if  required,  will be  obtained or made and will be
                  effective within the time periods required by law.

         3.8      OFFERING    EXEMPTION.    Assuming   the   accuracy   of   the
                  representations  and  warranties  made by the  Purchaser,  the
                  offer,  sale and issuance of the  Securities  to the Purchaser
                  will be  exempt  from  the  registration  requirements  of the
                  Securities Act and will have been  registered or qualified (or
                  are exempt  from  registration  and  qualification)  under the
                  registration,  permit  or  qualification  requirements  of all
                  applicable state securities laws.  Neither the Company nor any
                  agent on its behalf has  solicited  or will solicit any offers
                  to sell or has  offered  to sell or will  offer to sell all or
                  any part of the  Securities  to any person or persons so as to
                  bring the sale of such  Securities  by the Company  within the
                  registration  provisions  of the  Securities  Act or any state
                  securities laws.

         3.9      LITIGATION.   There  is  no  action,   suite,   proceeding  or
                  investigation  pending  or,  to the  Company's  knowledge,  is
                  currently threatened, against the Company, except as described
                  on Schedule 3.9 to this  Agreement The Company is not aware of
                  any basis for any of the  foregoing  or any intent on its part
                  to initiate on any of the foregoing.

         3.10     FINANCIAL  STATEMENTS.  The financial statements set forth the
                  Company's  SEC  Filings  (the  "Financial   Statements")   are
                  complete  and  correct  in  all  material  respects,   are  in
                  accordance with the books and records of the Company as at the
                  dates and for the periods indicated, and have been prepared in
                  accordance  with  generally  accepted  accounting   principles
                  consistently  applied  to  companies  domiciled  in the United
                  States,  except to the extent  that the  un-audited  financial
                  statements  may not contain  all  required  footnotes  and are
                  subject  to  normal  yearend  audit  adjustments  that  in the
                  aggregate will not be material.

         3.11     ABSENCE OF  LIABILITIES.Except  as set forth in the  Financial
                  Statements,   the  Company   has  no   material   liabilities,
                  contingent or otherwise, other the (i) liabilities incurred in
                  the ordinary  Course of  business,  that  individual1y  in the
                  aggregate  are not  material  to the  financial  condition  or
                  operating  results of the Company,  and (ii}  obligations  not
                  required under genera11y accepted accounting  principles to be
                  reflected in the Financial Statements.

<PAGE>

         3.12     TAXES.  The  Company  has  paid al1  taxes  due as of the date
                  hereof. The Company has timely filed or has obtained presently
                  effective  extensions  with  respect  to all  Federal,  state,
                  county,  local and  foreign tax  returns  (collectively,  "Tax
                  Returns")  that the  Company  are  required  to file.  The Tax
                  Returns are true and correct and all taxes shown thereon to be
                  due have been timely paid,  with any  exceptions  pem1itted by
                  any taxing authority not having a materially adverse effect on
                  the  Company.  No penalties or other shares are or will become
                  due with  respect to any such Tax Returns as the result of the
                  late   filing   thereof.   The  Company  has  either  paid  or
                  established  in the  Financial  Statements  adequate  for  the
                  payment  of all such  taxes  due or  claimed  to be due by any
                  taxing authority in connection with any such Tax Returns. None
                  of the Company's  federal income tax returns have been audited
                  by the  Internal  Revenue  Service,  and no  controversy  with
                  respect to taxes of any type is pending  or, to the  knowledge
                  of the  Company,  threatened.  The  Company  has  withheld  or
                  collected  from each payment made to its  employees the amount
                  of all taxes  required to be withheld or  collected  therefrom
                  and has  paid  all  such  amounts  to the  appropriate  taxing
                  authorities  when  due.  Neither  the  Company  nor any of its
                  stockholders  has  ever  filed  (i) an  election  pursuant  to
                  Section 1362 of the Internal  Revenue Code of 1986, as amended
                  (the "Code"),  that the Company be taxed as an S  corporation,
                  or (ii) a  consent  pursuant  to  Section  341(f)  of the Code
                  relating to collapsible corporations.

         3.13     PROPERTY AND ASSETS. The Company has good title to, or a valid
                  leasehold  interest  in, all of its  material  properties  and
                  assets,  including all properties and assets  reflected in the
                  Balance Sheet. None of such properties or assets is subject to
                  any mortgage,  pledge, lien, security interest,  lease, charge
                  or  encumbrance  other than those the material  terms of which
                  are  described in the Balance Sheet or in SCHEDULE  3.13.  The
                  Company does not own any real estate. All personal property of
                  the  Company  is  in  good  operating   condition  and  repair
                  (ordinary  wear and tear and routinely  scheduled  maintenance
                  excepted)  and is suitable and adequate for the uses for which
                  it is intended or is being used.

         3.14     INTELLECTUAL  PROPERTY. To the best of the Company's knowledge
                  the Company  owns,  or has the right to use, free and clear of
                  all liens,  charges,  claims and  restrictions,  all  patents,
                  patent applications  trademarks,  service marks, trademark and
                  service trademark  applications,  trade names, copyright & and
                  licenses presently owned or held by the Company or employed or
                  proposed to be employed by it in its business s now  conducted
                  or proposed to be conducted,  as well as any  agreement  under
                  which the Company has access to any  confidential  information
                  used  by  the  Company  in  its  business  (the  "Intellectual
                  Property  Rights").  Except as set forth on SCHEDULE  3.14 the
                  Company has not received any communications  alleging that the
                  Company has  violated  any Third Party  Intellectual  Property
                  Rights. The Company is not aware of any violation by any third
                  party of any Intellectual Property Rights of the Company or of
                  any defects  therein or in the title  thereto.  The Company is
                  not aware that any  employee is  obligated  under any contract
                  (including any license,  covenant or commitment of any nature)
                  or other  agreement,  or  subject to any  judgment,  decree or
                  order  of any  court  or  administrative  agency,  that  would
                  conflict  or  interfere  with:  (i)  the  performance  of such
                  employee's  duties as an officer,  employee or director of the
                  Company;  (ii)  the use of such  employee's  best  efforts  to
                  promote the  interests of the Company;  or (iii) the Company's
                  business as conducted.

         3.15     COMPLIANCE.   The  company  has,  in  all  material  respects,
                  complied with all laws,  regulations and orders  applicable to
                  their  business  and have all  material  permits  and  license
                  required  thereby.  There  is no  term  or  provision  of  any
                  material   mortgage,   indenture,   contract,   agreement   or

<PAGE>

                  instrument  to which the  Company is a party or by which it is
                  bound,  or,  to the best of the  Company's  knowledge,  of any
                  state or Federal judgment,  decree,  order,  statute,  rule or
                  regulation  applicable  to or binding  upon the  company  that
                  materially   adversely   affects  the   business,   prospects,
                  condition,  affairs or operations of the Company or any of its
                  properties or assets. To the Company's knowledge,  no employee
                  of the Company is in  violation  of any  contract or convenant
                  (either with the Company or with another  entity)  relating to
                  employment,  patent, other proprietary information disclosure,
                  non-competition, or non-solicitation.

         3.16     EMPLOYEES.  All  employees  of the Company who have success to
                  confidential  or  proprietary  information of the Company have
                  executed and  delivered  nondisclosure  agreements  and all of
                  such  agreements are in full force and effect.  The Company is
                  not  aware  that any  employee  of the  Company  has  plans to
                  terminate his or her employment relationship with the Company.
                  The Company bas  complied in all  material  respects  with BIJ
                  applicable laws relating to wages,  hours,  equal opportunity,
                  collective bargaining workers' compensation  insurance and the
                  payment  of  social  security  and  other  taxes.  None of the
                  employees of the Company is represented by any labor union and
                  there is no labor  strike or other labor  trouble  (including,
                  without limitation.  any organizational  drive) pending or, to
                  the knowledge of the Company,  threatened  with respect to the
                  Company.

         3.17     ENVIRONMENTAL AND SAFETY MATTERS. To the Company's  knowledge,
                  the Company is not in  material  violation  of any  applicab1e
                  environmental   law  and  to  its   knowledge,   no   material
                  expenditures  are or will be  required in order to comply with
                  any such environmental law.

         3.18     BOOKS AND RECORDS. The books of account,  ledgers, order boob,
                  records and documents of the Company accurately and completely
                  reflect all material  information  relating to the business of
                  the Company the location and  collection of its assets and the
                  nature of all  transactions  giving rise to the obligations or
                  accounts receivable of the Company.

         3.19     BROKERS  OR  FINDERS.  The  Company  has not  agreed to incur,
                  directly  or  indirectly,   any  liability  for  brokerage  or
                  finders' fees, agents' commissions or other similar charges in
                  connection  with  the  Transaction  Documents  or  any  of the
                  transactions contemplate hereby or thereby.

         3.20     DISCLOSURES.  The Company has provided the Purchaser  with all
                  information  requested  by the  Purchaser in  connection  with
                  their  decision  to  purchase  the  Securities.  Neither  this
                  Agreement any Exhibit hereto nor the Transaction Documents, or
                  any  report,   certificate  or  instrument  furnished  to  the
                  Purchaser or its agents in  connection  with the  transactions
                  contemplated by this Agreement,  when read together,  contains
                  or will contain any material  misstatement of fact or omits to
                  state  a  material  fact  necessary  to  make  the  statements
                  contained herein or therein not misleading.

                                   ARTICLE IV

                               REGISTRATION RIGHTS

         4.1      PIGGY-BACK  REGISTRATIONS.  If at any  time  after  the  first
                  anniversary  of the purchase of the Shares,  the Company shall
                  determine to  registers  for its own account or the account of
                  others under the Securities  Act (including  pursuant a demand
                  for registration of any stockholder of the Company) any of its
                  equity securities, other than on Form S-4 or Form S-8 or their
                  then  equivalents  relating  to shares  of Common  Stock to be
                  issued solely in connection with any acquisition of any entity
                  or business or shares of Common Stock  issuable in  connection
                  with stock option or other employee  benefit  plans,  it shall

<PAGE>

                  send to each holder of  Registrable  Shares who is entitled to
                  registration  rights under this Section 4.1 written  notice of
                  such  determination  and,  if within  fifteen  (15) days after
                  receipt  of such  notice,  such  holder  shall so  request  in
                  writing,  the Company shall use its best efforts to include in
                  such registration statement all or any part of the Registrable
                  Shares such holder request to be  registered,  except that if;
                  in  connection  with a  public  offering  of the  Company  the
                  managing  underwriter  shall be included  in the  registration
                  statement  because,  in  its  judgment,   such  limitation  is
                  necessary to effect an orderly public  distribution,  then the
                  Company  shall be  obligated  to include in such  registration
                  statement only such limited portion of the Registrable  Shares
                  with  respect to which such  holder  has  requested  inclusion
                  hereunder on a pro rata basis.

                  "Registrable   Shares"  shall  mean  and  include  the  Shares
                  PROVIDED,  however  that  shares  of  Common  Stock  which are
                  Registrable  Shares shall cease to be Registrable  shares upon
                  the  consummation  of  any  sale  pursuant  to a  registration
                  statement or Rule 144 under the Securities Act.

         4.2      EFFECTIVENESS.  The  Company  will  use its  best  efforts  to
                  maintain the  effectiveness for up to 90 days (or such shorter
                  period  of  time as the  underwriters  need  to  complete  the
                  distribution of the registered  offering) of any  registration
                  statement  pursuant to which any of the Registrable Shares are
                  being offered,  and from time to time will amend or supplement
                  such  registration  statement  and  the  prospectus  contained
                  therein to the extent  necessary to comply with the Securities
                  Act and any applicable state securities statute or regulation.
                  The  Company  will also  provide  each  holder of  Registrable
                  Shares with as many copies of the prospectus  contained in any
                  such registration statement as it may reasonably request.

         4.3      INDEMNIFICATION  BY THE  COMPANY.  (a) In the  event  that the
                  Company  registers  any of the  Registrable  Shares  under the
                  Securities  Act, the Company will  indemnify and hold harmless
                  each holder and each  underwriter  of the  Registrable  Shares
                  (including their officers, directors, affiliates and partners)
                  so  registered  (including  any broker or dealer  through whom
                  such shares may be sold) and each person, if any, who controls
                  such  holder or any such  underwriter  with in the  meaning of
                  Section 15 of the  Securities Act from and against any and all
                  losses,  claims,  damages,  expenses,  1iabilities,  joint  or
                  several, to which they or any of them become subject under the
                  Securities Act,  applicable state securities laws or under any
                  other statute or at common law or otherwise, as incurred, and,
                  except  as  hereinafter  provided,  will  reimburse  each such
                  holder,  each  such  underwriter  and  each  such  controlling
                  person,  if any,  for any legal or other  expenses  reasonably
                  incurred   by  them  or  nay  of  them  in   connection   with
                  investigating   or  defending  any  actions   whether  or  not
                  resulting  in any  liability,  as  incurred,  insofar  as such
                  losses claims, damages, expenses, 1iabilities or actions arise
                  out of or are based upon my untrue statement or alleged untrue
                  statement of a material  fact  contained  in the  registration
                  statement,   in  any   preliminary   or  amended   preliminary
                  prospectus  or in the fina1  prospectus  (or the  registration
                  statement  or  prospectus  as from  time to  time  amended  or
                  supplemented by the Company) or arise out of or are based up n
                  the omission or alleged  omission to state  therein a material
                  fact  required to b stated  therein or  necessary  in order to
                  make the statements  therein not misleading,  or any violation
                  by the Company of My rule or regulation  promulgated under the

<PAGE>

                  Securities  Act or any state  securities  laws  applicable the
                  Company and  relating  to action or  inaction  required of the
                  Company in connection with such registration,  UNLESS (i) such
                  untrue  statement or alleged  untrue  statement or omission or
                  alleged  omission  was  made in such  registration  statement,
                  preliminary  or  amended   preliminary   prospectus  or  final
                  prospectus in reliance upon and in conformity with information
                  furnished in writing to the Company in connection therewith by
                  any  such  holder  of  Registrable  Shares  (in  the  case  of
                  indemnification of such holder),  any such underwriter (in the
                  case   indemnification   of  such  underwriter)  or  any  such
                  controlling  person  {in the case of  indemnification  of such
                  controlling  person) expressly for use therein, or unless (ii)
                  in the case of a sale  directly by such holder of  Registrable
                  Shares (including a sale of such Registrable  Shares to engage
                  in  a  distribution   solely  on  behalf  of  such  holder  of
                  Registrable  Shares),  such untrue statement or alleged untrue
                  statement or omission or alleged  omission was  contained in a
                  preliminary  prospectus  and  corrected  in a final or amended
                  prospectus  copies of which were  delivered  to such holder of
                  Registrable  Shares or such underwriter on a timely basis, and
                  such holder of Registrable  Shares failed to deliver a copy of
                  the  final  or   amended   prospectus   at  or  prior  to  the
                  confirmation  for the sale of the  Registrable  Shares  to the
                  person asserting any such loss, claim,  damage or liability in
                  any case where such  delivery is  required  by the  Securities
                  Act.

         (b)      Promptly  after receipt by any holder of  Registrable  Shares,
                  any  underwriter  or any  controlling  person of notice of the
                  commencement  of any action in respect of which  indemnity may
                  be sough  against  the  Company,  such  holder of  Registrable
                  Shares, or such underwriter or such controlling person, as the
                  case  may be,  will  notify  the  Company  in  writing  of the
                  commencement  thereof  (provided,  that  failure  by any  such
                  person to so notify the Company  shall not relieve the Company
                  from any  liability it may have  hereunder to any other person
                  entitled to claim  indemnity or  contribution  hereunder) and,
                  subject to the  provisions  hereinafter  stated,  the  Company
                  shall  be  entitled  to  assume  the  defense  of such  action
                  (including the employment of counsel  reasonably  satisfactory
                  to such holder of Registrable Shares, such underwriter or such
                  controlling  person,  as the case may be),  and the payment of
                  expenses  insofar as such action  shall  relate to any alleged
                  liability in respect of which  indemnity may be sought against
                  the Company.

         (c)      In order to provide  for just and  equitable  contribution  to
                  joint  liability under the Securities Act in any case in which
                  any holder of Registrable  Share exercising  rights under this
                  Article V or any controlling person of any such holder, make a
                  claim for indemnification  pursuant to this Section 4.3 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 4.3  provides for
                  indemnification  such case, then, the Company and such holders
                  will  contribute to the aggregate  losses  claims,  damages or
                  liabilities to which they may be subject  (after  contribution
                  from others) in such  proportion as is  appropriate to reflect
                  the  relative  fault of the Company on the one hand and of the
                  holder of Registrable  Shares on the other connection with the
                  statements or omissions which resulted in such losses, claims,
                  damages,  liabilities, as well as any other relevant equitable
                  considerations.  The relative  fault of the Company on the one
                  hand and of the  holder  of  Registrable  Shares  on the other
                  shall be  determined  by  reference  to,  among other  things,
                  whether the untrue or alleged  untrue  statement of a material
                  fact or omission or alleged  omission to state a material fact
                  relates to information supplied by the Company on the one hand
                  or by the holder of Registrable  Shares on the other, and each
                  party's relative intent, knowledge,  access to information and
                  opportunity  to collect or prevent such statement or omission;

<PAGE>

                  PROVIDED,  HOWEVER, that, in any such case, (A) no such holder
                  will be  required  to  contribute  any amount in excess of the
                  public offering price of all such  Registrable  Shares offered
                  by it  pursuant  to such  registration  statement,  net of any
                  underwriting discounts or commissions paid by such holder; and
                  (B) no person or entity guilty of fraudulent misrepresentation
                  (within the meaning of Section  11(f) of the  Securities  Act)
                  will be entitled to contribution from any person or entity who
                  was not guilty of such fraudulent misrepresentation.

         4.4.     INDEMNIFICATION  BY HOLDERS OF REGISTRABLE  SHARES. (a) In the
                  event that the Company registers any of the Registrable Shares
                  under the  Securities  Act,  each  holder  of the  Registrable
                  Shares so registered  will, as a condition to  registration of
                  the Registrable  Shares,  agree to indemnify and hold harmless
                  the Company,  each of its directors,  each of its officers who
                  have signed or otherwise  participated  in the  preparation of
                  the   registration   statement,   each   underwriter   of  the
                  Registrable  Shares so  registered  (including  any  broker or
                  dealer  through  whom such of the shares may be sold) and each
                  person, if any, who controls the Company within the meaning of
                  Section 15 of the  Securities Act from and against any and all
                  losses,  claims,  damages,  expenses or liabilities,  joint or
                  several, to which they or any of them may become subject under
                  the Securities Act,  applicable state securities laws or under
                  any other statue or at common law or otherwise, and, except as
                  hereinafter  provided,  will  reimburse  the Company each such
                  director,  officer,  underwriter or controlling person for any
                  legal or other expenses  reasonably incurred by them or any of
                  them in connection with investigating or defending any actions
                  whether or not  resulting  in any  liability,  insofar as such
                  losses, claims, damages, expense, liabilities or actions arise
                  out of or are  based  upon any  untrue  statement  or  alleged
                  untrue   statement  of  a  material  fact   contained  in  the
                  registration   statement,   in  any   preliminary  or  amended
                  preliminary  prospectus or in the final  prospectus (or in the
                  registration  statement  or  prospectus  as from  time to time
                  amended or supplemented) 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  in order to make
                  the statements therein not misleading, but only insofar as any
                  such  statement or omission  was made in reliance  upon and in
                  conformity  with  information  furnished  in  writing  to  the
                  Company in connection  therewith by such holder of Registrable
                  Shares expressly for use therein; PROVIDED, HOWEVER, that such
                  holder's  obligation  hereunder  shall be limited to an amount
                  equal  to  the  aggregate   public   offering   price  of  the
                  Registrable  Shares sold by such holder in such  registration,
                  not of any underwriting  discounts or commissions paid by such
                  holder.

         (b)      In order to provide  for just and  equitable  contribution  to
                  joint  liability under the Securities Act in any case in which
                  the  Company or another  person  entitled  to  indemnification
                  pursuant to this Section 4.4 makes a claim for indemnification
                  pursuant to this Section 4.4, 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   that   this   Section   4.4   provided   for
                  indemnification,  in such  case,  then  the  Company  and such
                  holder  will  contribute  to  the  aggregate  losses,  claims,
                  damages or  liabilities  to which  they may be subject  (after
                  contribution from others) in such proportion as is appropriate
                  to reflect the  relative  fault of the Company on the one hand
                  and of the  holder  of  Registrable  Shares  on the  other  in
                  connection  with the statements or omissions which resulted in
                  such losses,  claims,  damages or liabilities,  as well as any
                  other relevant equitable considerations. The relative fault of
                  the  Company on the one hand and of the holder of  Registrable
                  Shares on the other shall be determined by reference to, among
                  other things,  whether the untrue or alleged untrue  statement
                  of a material  fact  relates to  information  supplied  by the
                  Company on the on the one hand or by the holder of Registrable
                  Shares  on  the  other,  and  each  party's  relative  intent,
                  knowledge, access to information and opportunity to correct or
                  prevent such statement or omission,  PROVIDED,  HOWEVER, that,
                  in any such  case,  (A) no such  holder  will be  required  to
                  contribute  any amount in excess of the public  offering price
                  of all such Registrable  Shares offered by it pursuant to such
                  registration  statement,  net of any underwriting discounts or
                  commissions  paid by such holder;  and (B) no person or entity
                  guilty of fraudulent  misrepresentation (within the meaning of
                  Section  11(f) of the  Securities  Act)  will be  entitled  to
                  contribution  from any  person or entity who was not guilty of
                  such fraudulent misrepresentation.

         4.5      EXCHANGE ACT REPORTS. The Company will use its best efforts to
                  timely  file  with  the  Commission   such   information   the
                  Commission  may require  under the  Exchange Act and shall use
                  its best  efforts to take all action as may be  required  as a
                  condition to the  availability  of Rule 144 or Rule 144A under
                  the Securities Act (or any successor  exemptive rule hereafter
                  in effect)  with  respect to such  Common  Stock.  The Company
                  shall furnish to any holder of  Registrable  Shares  forthwith
                  upon request (i) a written  statement by the Company as to its
                  compliance with the reporting  requirement of Rule 144, (ii) a
                  copy of the most  recent  annual  or  quarterly  report of the
                  Company  as filed  with the  Commission,  and (iii) such other
                  reports and  documents as a holder may  reasonably  request in
                  availing  itself of any rule or regulation  of the  Commission
                  allowing a holder to sell any Registrable  Securities  without
                  registration.  The Company  agrees to use its best  efforts to
                  facilitate  and expedite  transfers of the Shares  pursuant to
                  Rule 144 under the Securities Act, which efforts shall include
                  timely notice to its transfer agent to expedite such transfers
                  of Shares.

         4.6      EXPENSES.  In the  case of each  registration  effected  under
                  Section 4.1., the Company shall bear all reasonable  costs and
                  expenses  of each  such  registration  behalf  of the  selling
                  holders of Registrable  Shares including,  but not limited to,
                  the Company's printing, legal and accounting fees and expense,
                  Commission and NASD filing fees and "Blue Sky" fees; PROVIDED,
                  HOWEVER,  that the Company  shall have no obligation to pay or
                  otherwise bear any portion of the underwriters'  commission or

<PAGE>

                  discounts attributable to the Registrable Shares being offered
                  and sold by the holders of the Registrable Shares, or the fees
                  and expenses of counsel for the selling holders of Registrable
                  Shares in connection with the  registration of the Registrable
                  Shares.

         4.7      TRANSFERABILITY.  (a) For all  purposes  of Article IV of this
                  Agreement,  a Purchase  or  assignee  thereof who agrees to be
                  bound by the  provisions of this Article IV shall be deemed at
                  any  particular  time  to be the  holder  of  all  Registrable
                  Securities  of which  such  person  shall at such  time be the
                  "beneficial  owner,"  determine in accordance  with Rule 13d-3
                  under the Exchange Act.

                                          ARTICLE V
                                        MISCELLANEOUS

         5.1      NO  WAIVER;  CUMULATIVE  REMEDIES.  No failure or delay on the
                  part of any party of this  Agreement in exercising  any right,
                  power or remedy  hereunder  shall operate as a waiver thereof;
                  nor shall any single or partial  exercise  of any such  right,
                  power  or  remedy  precluded  any  other or  further  exercise
                  thereof or the  exercise of any other  right,  power or remedy
                  hereunder. The remedies herein provided are cumulative and not
                  exclusive of any remedies provided by law.

         5.2      AMENDMENTS,   WAIVERS  AND  CONSENTS.  Any  provision  in  the
                  Agreement  to the  contrary  notwithstanding,  and  except  as
                  hereinafter provided, changes in, termination or amendments of
                  or additions to this  Agreement  may be made,  and  compliance
                  with any covenant or provision set forth herein may be omitted
                  or waived,  if the Company  shall  obtain  consent  thereto in
                  writing from the Purchaser. Any waiver or consent may be given
                  subject to  satisfaction  of  conditions  stated  therein  any
                  waiver or  consent  shall be  effective  only in the  specific
                  instance and for the specific purpose of which given.

         5.3      ADDRESSES FOR NOTICES. All notices, request, demands and other
                  communications  provided  for  hereunder  shall be in  writing
                  (including telegraphic  communication) and mailed, telegraphed
                  or delivered to each applicable party at the address set forth
                  on  Schedule  5.3 hereto or at such other  address as to which
                  such  party  may  inform  the  other  parties  in  writing  in
                  compliance  with the terms of this Section.  All such notices,
                  requests, demands and other communications shall be considered
                  to be effective when delivered.

         5.4      COSTS,  EXPENSE  AND  TAXES.  All  parties  to bear  their own
                  expenses.

         5.5      EFFECTIVENESS;  BINDING  EFFECT;  ASSIGNMENT.  This  Agreement
                  shall be binding upon and inure to the benefit of the Company,
                  the  Purchaser  and the  respective  successors  and  assigns;
                  PROVIDED,  that,  the Company may not assign any of its rights
                  or obligations  under this Agreement without the prior written
                  consent of the  Purchase.  The  Purchase may assign all or any
                  part of its rights and obligations hereunder to any person who
                  acquires any Shares or Warrants owned by the Purchaser subject
                  to the conditions of this Agreement.

         5.6      PRIOR  AGREEMENTS.  The  Transaction  Documents  executed  and
                  delivered  in  connection   herewith   constitute  the  entire
                  agreement   between  the  parties  and   supersede  any  prior
                  understandings  or agreements  concerning  the subject  matter
                  hereof.

         5.7      SEVERABILITY.  The provisions of the Transaction Documents are
                  severable  and,  in the  event  that any  court  of  competent
                  jurisdiction  shall  determine  that  any  one or  more of the
                  provisions or part of a provision contained therein shall, for
                  any reason, be held to be invalid, illegal or unenforceable in
                  any respect,  such invalidity,  illegality or unenforceability
                  shall not affect any other  provisions  or part of a provision
                  of such Transaction Document and the terms of the Shares shall
                  be reformed  and  construed  as if such  invalid or illegal or
                  unenforceable  provision,  or part of a  provision,  had never
                  been contained herein, and such provisions or part reformed so
                  that  would be valid,  legal and  enforceable  to the  maximum
                  extent possible.

         5.8      GOVERNING LAW; VENUE.

                  A.       This  Agreement  shall  be  enforced,   governed  and
                           construed  in  accordance  with the laws the State of
                           New York or federal  securities law where  applicable
                           without giving effect to choice of laws principles or
                           conflict  of laws  provisions.  Any suite,  action or
                           proceeding   pertaining  to  this  Agreement  or  any
                           transaction  relative  hereto shall be brought to the
                           courts sitting New York City, New York, United States
                           of America,  and the undersigned  hereby  irrevocably
                           consents  and  submits  to the  jurisdiction  of such
                           courts for the purpose of any such suits,  action, or
                           proceeding.  Purchaser  acknowledges  and agrees that
                           venue  hereunder  shall lie  exclusively in New York,
                           United States of America.

                  B.       Purchaser  hereby  waives,  and  agrees not to assert
                           against  the  Company,   or  any  successor  assignee
                           thereof, by way of motion, as a defense or otherwise,
                           in any such suit, action or proceeding. (i) any claim
                           that the Purchaser is not  personally  subject to the
                           jurisdiction of the above-named  courts,  and (ii) to
                           the extent  permitted  by  applicable  law, any claim
                           that such suit, action or proceeding is brought in an
                           inconvenient  forum or that that  venue of such suit,
                           action  or   proceeding  is  improper  or  that  this
                           Agreement may not be enforced in or by such courts.

         5.9      HEADINGS.  Article,  section and  subsection  headings in this
                  Agreement  are included  herein for  convenience  of reference
                  only and shall not constitute a part of this Agreement for any
                  other purpose.

         5.10     SURVIVAL    OF    REPRESENTATIONS    AND    WARRANTIES.    All
                  representations   and  warranties   made  in  the  Transaction
                  Documents,  the Shares,  or any other  instrument  or document
                  delved in connection herewith or therewith,  shall survive the
                  execution and delivery hereof or thereof.

<PAGE>

         5.11     COUNTERPARTS.  This Agreement may be executed in any number of
                  counterparts, all of which taken together shall constitute one
                  and the same  instrument,  and any of the  parties  hereto may
                  execute this Agreement by signing any such counterpart.

         5.12     FURTHER ASSURANCES. From and after the date of this Agreement,
                  upon the request of the Purchaser or the Company,  the Company
                  and the Purchase  shall execute and deliver such  instruments,
                  documents and other writing as may be reasonable  necessary or
                  desirable to confirm and carry out and to effectuate fully the
                  intent and pursue of the Transaction Documents and the Shares.

         IN WITNESS WHEREOF,  the parties hereto have caused this Stock Purchase
Agreement tot be executed as of the date first above written.

                                           REALITY WIRELESS NETWORKS, INC.

                                           BY:
                                           -----------------------------
                                           NAME:  RICK RAMIREZ
                                           TITLE:  VICE PRESIDENT OF
                                           FINANCE

                                           PURCHASER

                                           BY:
                                           -----------------------------
                                                KIRSHMA ORR
                                                ISCHIAN HOLDINGS LTD
                                                30 DE CASTRO STREET
                                                PO BOX 961
                                                ROAD TOWN, TORTOLA
                                                B.V.I

<PAGE><PAGE>

                                  EXHIBIT 10.2

                                 FIRST AMENDMENT

                                       TO

                      REGULATION S STOCK PURCHASE AGREEMENT

         THIS FIRST  AMENDMENT TO REGULATION S STOCK PURCHASE  AGREEMENT,  dated
June 25, 2003 (the "First Amendment"), is by and between Ischian Holdings, Ltd.,
a British Virgin Islands International  business company (the "Purchaser"),  and
Reality Wireless Networks, Inc., a Nevada corporation (the "Company").

                                    RECITALS

         A. The  Purchaser  and the Company  entered  into a  Regulation S Stock
Purchase  Agreement  dated April 29, 2003, a copy of which is attached hereto as
Exhibit A (the "Agreement"),  pursuant to which the Purchaser agreed to purchase
from the Company up to 10,000,000 shares of the common stock of the Company.

         B. (i)  Article  I,  Section  1.1,  to the  Agreement  sets forth up to
10,000,000  shares as the  number  of  shares of common  stock to be sold to the
Purchaser by the Company pursuant to the Agreement,  and (ii) Article I, Section
1.4,  to the  Agreement  sets  forth that the  Purchaser  agrees to use its best
efforts to purchase up to 10,000,000  shares  between the execution  date of the
Agreement, April 29, 2003, and October 31, 2003.

         C. The  Purchaser  and the  Company  now wish to amend (i)  Article  I,
Section 1.1, to provide  that,  in addition to the  10,000,000  shares of common
stock being sold to the Purchaser in the  Agreement,  an  additional  30,000,000
shares  of  common  stock  of the  Company  will be sold by the  Company  to the
Purchaser  (for a total of  40,000,000  shares to be purchased by the  Purchaser
from the  Company),  and (ii) Article I, Section 1.4, to provide that  Purchaser
agrees to use its best efforts to purchase up to 40,000,000  shares  between the
execution date of the Agreement, April 29, 2003, and October 31, 2003.

                                    AGREEMENT

         NOW,  THEREFORE,  in  consideration  of the  foregoing,  and the mutual
agreements, representations,  warranties and covenants contained herein, and for
other  good  and  valuable   consideration   the  receipt  of  which  is  hereby
acknowledged, the parties hereto agree as follows:

A.  Article I, Section  1.1, of the  Agreement is hereby  amended to read in its
entirely as follows:

<PAGE>

         "1.1 The  Company  agrees  to issue  and  sell to the  Purchaser  in an
         offshore transaction  negotiated outside the U.S. and to be consummated
         and closed  outside the U.S.  and, in  consideration  of and in express
         reliance upon the  representations,  warranties,  covenants,  terms and
         conditions of this Agreement, the Purchaser agrees to purchase, subject
         to  the  conditions  hereafter  set  forth,  from  the  Company  up  to
         40,000,000 shares (the "Shares") of the Company at a per share purchase
         price  which shall be 25% of the bid price of the  Company's  shares of
         Common Stock as quoted on the OTC Bulletin  Board (the  "OTCBB") (or on
         such other United  States stock  exchange or public  trading  market on
         which the shares of the Company trade if, at the time of purchase, they
         are not trading on the OTCBB) for the five (5) consecutive trading days
         immediately  preceding  the date (the "Call Date") the  purchase  order
         (the  "Purchase  Notice") is received  by the  Company  (the  "Purchase
         Price").
         There will be no minimum floor price."

B.  Article I, Section  1.4, of the  Agreement is hereby  amended to read in its
entirely as follows:

         "1.4 The  Purchaser  agrees to use its best  efforts to  purchase up to
         40,000,000  shares  between  the date  hereof  and  October  31,  2003.
         Purchase  shall  only be liable to  purchase  the  number of Shares set
         forth in each Purchase Notice."

C. Except as  specifically  amended  hereby,  the Agreement and the exhibits and
schedules  attached thereto and all terms and conditions thereof shall remain in
full force and effect, without modification.

EXECUTED on the date first set forth above.

                                            THE COMPANY:

                                            REALITY WIRELESS NETWORKS, INC.,
                                             a Nevada corporation

                                            By: /s/ Victor Romero
                                            -------------------------------
                                            Name: Victor Romero
                                            Title:   President

                                            THE PURCHASER:

                                            ISCHIAN HOLDINGS, LTD., a British
                                            Virgin Islands International
                                            business company

                                            By: /s/ Krishma Orr
                                            -------------------------------
                                            Name: Krishma Orr
                                            Title:

<PAGE>

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