Document:

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                                                                    EXHIBIT 10.5

                    ADVANCED AERODYNAMICS & STRUCTURES, INC.
                           STOCK RESTRICTION AGREEMENT
                        EXHIBIT 1 TO EMPLOYMENT AGREEMENT

         THIS STOCK RESTRICTION AGREEMENT (the "Agreement") is made as of
January 8, 2002 in Long Beach, California, by and between Advanced Aerodynamics
& Structures, Inc., a Delaware corporation (the "Company"), and [Employee Name]
an individual (the "Shareholder").

         WHEREAS, the Shareholder is the beneficial owner of the number of
shares of the Company's Class A Common Stock listed on Exhibit A attached hereto
                                                       ---------
and may be issued additional shares of Class A Common Stock pursuant to Section
2.02 of his Employment Agreement with the Company (the "Restricted Stock"); and

         WHEREAS, the Shareholder and the Company acknowledge that they are
entering into this Agreement as a condition to Shareholder's employment with the
Company, the terms and conditions of which are set forth in detail in the
Employment Agreement dated as of January 8, 2002, between Shareholder and the
Company (the "Employment Agreement").

         NOW, THEREFORE, in consideration of their respective promises,
representations, warranties, covenants and conditions set forth in this
Agreement, the parties hereby agree as follows:

1.       REPURCHASE OPTION.
         -----------------

         In the event Shareholder's employment with the Company is terminated
(i) voluntarily by the Shareholder or (ii) by the Company "For Cause" (as
defined in Section 4.01 of the Employment Agreement) before all of the shares of
Restricted Stock are released from the Company's repurchase option (see Section
2), the Company shall, upon the date of such termination (as reasonably fixed
and determined by the Company) have an irrevocable, exclusive option (which
option may be assigned by the Company pursuant to Section 6(b)) (the "Repurchase
Option") for a period of ninety (90) days from such date to repurchase the
Unreleased Shares (as defined in Section 2) at such time for a total
consideration of One Dollar ($1.00) (the "Repurchase Price"). In the event
Shareholder's employment with the Company is terminated by the Company other
than "For Cause," all shares of Restricted Stock shall be released from the
Repurchase Option and the Repurchase Option shall terminate and be of no further
force or effect. Said Repurchase Option shall be exercised by the Company by
written notice to Shareholder or Shareholder's executor (with a copy to the
Escrow Holder, as defined in Section 3) and, at the Company's option, (i) by
delivery to Shareholder or Shareholder's executor with such notice of a check in
the amount of the aggregate Repurchase Price for the Restricted Stock being
repurchased, or (ii) by cancellation by the Company of an amount of any of
Shareholder's indebtedness to the Company equal to the aggregate Repurchase
Price for the Restricted Stock being repurchased, or (iii) by a combination of
(i) and (ii) so that the combined payment and cancellation of indebtedness
equals such aggregate Repurchase Price. Upon

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delivery of such notice and the payment of the aggregate Repurchase Price in
any of the ways described above, the Company shall become the legal and
beneficial owner of the Restricted Stock being repurchased and all rights and
interests therein or relating thereto, and the Company shall have the right to
retain and transfer to its own name the number of shares of Restricted Stock
being repurchased by the Company.

2.       RELEASE OF SHARES OF RESTRICTED STOCK FROM REPURCHASE OPTION.
         ------------------------------------------------------------

         (a) One Twelfth (1/12) of the shares of Restricted Stock shall be
released from the Company's Repurchase Option, as of the last day of each
calendar quarter during the term of this Agreement, provided that, as to each
incremental period resulting in the release of shares of Restricted Stock from
such Repurchase Option, Shareholder's employment with the Company has not been
terminated prior to the date of any such release. If additional shares of Class
A Common Stock are issued to Shareholder pursuant to this Employment Agreement
with the Company, such shares shall be issued subject to the Company's
Repurchase Option to the extent that such shares would have remained subject to
the Repurchase Option had they been outstanding as of the date of this
Agreement.

         (b) Any of the shares of Restricted Stock which have not yet been
released from the Company's Repurchase Option are referred to herein as
"Unreleased Shares."

         (c) Shares of Restricted Stock which have been released from the
Company's Repurchase Option shall be delivered to Shareholder, net of that
number of shares necessary to allow the Company to fulfill its obligations under
federal and state income tax withholding laws with regard to such release, which
shares shall be returned to the treasury of the Company and retired or sold by
the Company, at the Company's option. Shares delivered to the Shareholder
pursuant to this Section 2(c) shall be freely tradable, subject only to any
restrictions on transfer which may be imposed by federal and state securities
laws.

3.       ESCROW OF SHARES. Certificates representing shares of Restricted Stock
         ----------------
shall be held by the Company as escrow holder (the "Escrow Holder"), along with
a stock assignment executed by Shareholder in blank in the form attached hereto
as Exhibit B, pursuant to the terms of the Joint Escrow Instructions attached
   ---------
hereto as Exhibit C.
          ---------

4.       ADJUSTMENT FOR STOCK SPLIT. All references to numbers of shares and the
         --------------------------
Repurchase Price of shares of Restricted Stock in this Agreement shall be
appropriately adjusted to reflect any stock split, stock dividend or other
change in the Restricted Stock which may be made by the Company after the date
of this Agreement.

5.       TAX CONSEQUENCES. Shareholder has reviewed with Shareholder's own tax
         ----------------
advisors the federal, state, local and foreign tax consequences of the
transactions contemplated by this Agreement. Shareholder is relying solely on
such advisors and not on any statements or representations of the Company or any
of its agents. Shareholder understands that Shareholder (and not the Company)
shall be responsible for Shareholder's own tax liability that may arise as a
result of the transactions contemplated by this Agreement.

                                       2

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6.       GENERAL PROVISIONS.
         ------------------

         (a) Except for the escrow described in Section 3, no shares of
Restricted Stock or any beneficial interest therein shall be transferred,
encumbered or otherwise disposed of in any manner until the release of such
shares of Restricted Stock from the Company's Repurchase Option in accordance
with the provisions of this Agreement.

         (b) The rights and benefits of the Company under this Agreement shall
be transferable to any one or more persons or entities, and all covenants and
agreements hereunder shall inure to the benefit of, and be enforceable by the
Company's successors and assigns. The rights and obligations of Shareholder
under this Agreement may only be assigned with the prior written consent of the
Company.

         (c) The Company shall not be required (i) to transfer on its books any
shares of Restricted Stock which shall have been sold or transferred in
violation of any of the provisions set forth in this Agreement or (ii) to treat
as owner of such shares or to accord the right to vote as such owner or to pay
dividends to any transferee to whom such shares shall have been so transferred.

         (d) Subject to the provisions of paragraphs (a) and (c) above,
Shareholder (but not any unapproved transferee) shall, during the term of this
Agreement, exercise all rights and privileges of a shareholder of the Company
with respect to the Restricted Stock.

         (e) Any notice, demand or request required or permitted to be given by
either the Company or Shareholder pursuant to the terms of this Agreement shall
be in writing and shall be deemed given when delivered personally or deposited
in the U.S. Mail, First Class with postage prepaid, and addressed to the parties
at the addresses of the parties set forth at the end of this Agreement or such
other address as a party may request by notifying the other in writing.

         (f) Either party's failure to enforce any provision or provisions of
this Agreement shall not in any way be construed as a waiver of any such
provision or provisions, nor prevent that party thereafter from enforcing each
and every other provision of this Agreement. The rights granted both parties
herein are cumulative and shall not constitute a waiver of either party's right
to assert all other legal remedies available to it under the circumstances.

         (g) Shareholder agrees upon request to execute any further documents or
instruments necessary or desirable to carry out the purposes or intent of this
Agreement.

         (h) All certificates representing any shares of Restricted Stock
subject to the provisions of this Agreement shall have endorsed thereon legends
in substantially the following form:

             (i) The shares represented by this certificate are subject to a
repurchase option set forth in an agreement between the corporation and the
registered holder, or the registered holder's predecessor in interest, a copy of
which is on file at the principal office of this corporation. Any transfer or
attempted transfer of any shares subject to such repurchase option is void
without the prior express written consent of the issuer of these shares.

                                       3

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             (ii) Any other legend required to be placed thereon by the
Company's Bylaws or applicable state, federal or foreign securities laws.

         (i) Shareholder has reviewed this Agreement in its entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Agreement
and fully understands all provisions of this Agreement.

         (j) This Agreement, including the Exhibits attached hereto, constitute
the full and entire understanding and agreement between the Company and
Shareholder with regard to the subject matter hereof and supersede all prior
agreements and/or understandings regarding the same.

         (k) This Agreement shall be governed by and construed in accordance
with the laws of the State of California and interpreted and determined in
accordance with the laws of the State of California, as such laws are applied by
California courts to contracts made and to be performed entirely in California
by residents of that State. The parties agree that any action brought by either
party to interpret or enforce any provision of this Agreement shall be brought
in, and each party agrees to, and does hereby, submit to the jurisdiction and
venue of, the appropriate state or federal court for the district encompassing
the Company's principal place of business.

         IN WITNESS WHEREOF, the parties have duly executed this Agreement as of
the day and year first set forth above.

ADVANCED AERODYNAMICS &             SHAREHOLDER:
STRUCTURES, INC.

By:______________________________   ______________________________________
                                    [Employee]
   ______________________________

Address:  3205 Lakewood Boulevard   Address:______________________________
          Long Beach, CA 90808
                                            ______________________________

                                       4

<PAGE>

                                    EXHIBIT A

                                RESTRICTED STOCK

                                                      NO. SHARES OF
                NAME                                  COMMON STOCK
---------------------------------------------   ------------------------

                                                       ___________

<PAGE>

                                    EXHIBIT B

                   STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE

         FOR VALUE RECEIVED, _______________________ hereby sells, assigns and
transfers unto Advanced Aerodynamics & Structures, Inc., a Delaware corporation
(the "Company"), pursuant to the Repurchase Option under that certain Stock
Restriction Agreement dated as of January 8, 2002, by and between the
undersigned and the Company (the "Agreement"), ______________________
(_________) shares of the Company's Common Stock standing in the undersigned's
name on the books of the Company represented by Certificate No. __________ and
does hereby irrevocably constitute and appoint __________________,
attorney-in-fact to transfer said stock on the books of the Company with full
power of substitution in the premises. This Assignment may be used only in
accordance with and subject to the terms and conditions of the Agreement, in
connection with the repurchase of shares of Common Stock pursuant to the
Agreement, and only to the extent that such shares remain subject to the
Company's Repurchase Option under the Agreement.

Dated:_________________________  ______________________________________________

<PAGE>

                                    EXHIBIT C

                            JOINT ESCROW INSTRUCTIONS

Advanced Aerodynamics & Structures, Inc.

Dear ___________________________:

         As Escrow Agent for both Advanced Aerodynamics & Structures, Inc. (the
"Company"), and the undersigned holder of stock of the Company (the
"Shareholder"), you are hereby authorized and directed to hold the documents
delivered to you pursuant to the terms of that certain Stock Restriction
Agreement ("Agreement"), dated as of January 8, 2002, to which a copy of these
Joint Escrow Instructions is attached as Exhibit C, in accordance with the
                                         ---------
following instructions: /1/

         1. In the event the Company or an assignee shall elect to exercise the
Repurchase Option set forth in the Agreement, the Company or its assignee will
give to Shareholder and you a written notice specifying the number of shares of
stock to be repurchased, the Repurchase Price, and the time for a closing
hereunder at the principal office of the Company. Shareholder and the Company
hereby irrevocably authorize and direct you to close the transaction
contemplated by such notice in accordance with the terms of said notice.

         2. At the closing of the exercise of the Repurchase Option you are
directed (a) to date any stock assignments necessary for the transfer in
question, (b) to fill in the number of shares being transferred, and (c) to
deliver same, together with the certificate evidencing the shares of stock to
be transferred, to the Company against the simultaneous delivery to you of the
Repurchase Price (which may include suitable acknowledgment of cancellation of
indebtedness) of the number of shares of stock being purchased pursuant to the
exercise of the Repurchase Option.

         3. Shareholder irrevocably authorizes the Company to deposit with you
any certificates evidencing shares of stock to be held by you hereunder and any
additions and substitutions to said shares as specified in the Agreement.
Shareholder does hereby irrevocably constitute and appoint you as his
attorney-in-fact and agent for the term of this escrow to execute with respect
to such securities and other property all documents of assignment and/or
transfer and all stock certificates necessary or appropriate to make all
securities negotiable and complete any transaction herein contemplated.

         4. This escrow shall terminate upon expiration or exercise in full of
the Repurchase Option, whichever occurs first.

--------------
/1/      All capitalized terms not otherwise defined herein shall have the
meanings set forth in the Agreement.

<PAGE>

         5. If at the time of termination of this escrow you should have in your
possession any documents, securities, or other property belonging to
Shareholder, you shall deliver all of same to Shareholder and shall be
discharged of all further obligations hereunder.

         6. Except as otherwise provided in these Joint Escrow Instructions,
your duties hereunder may be altered, amended, modified or revoked only by a
writing signed by all of the parties hereto.

         7. You shall be obligated only for the performance of such duties as
are specifically set forth herein and may rely and shall be protected in relying
or refraining from acting on any instrument reasonably believed by you to be
genuine and to have been signed or presented by the proper party or parties or
their assignees. You shall not be personally liable for any act you may do or
omit to do hereunder as Escrow Agent or as attorney-in-fact for Shareholder
while acting in good faith and any act done or omitted by you pursuant to the
advice of your own attorneys shall be conclusive evidence of such good faith.

         8. You are hereby expressly authorized to disregard any and all
warnings given by any of the parties hereto or by any other person or
corporation, excepting only orders or process of courts of law, and are hereby
expressly authorized to comply with and obey orders, judgments or decrees of
any court. In case you obey or comply with any such order, judgment or decree
of any court, you shall not be liable to any of the parties hereto or to any
other person, firm or corporation by reason of such compliance, notwithstanding
any such order, judgment or decree being subsequently reversed, modified,
annulled, set aside, vacated or found to have been entered without jurisdiction.

         9. You shall not be liable in any respect on account of the identity,
authority or rights of the parties executing or delivering or purporting to
execute or deliver the Agreement or any documents or papers deposited or called
for hereunder.

         10. You shall not be liable for the outlawing of any rights under any
statute of limitations with respect to these Joint Escrow Instructions or any
documents deposited with you.

         11. You shall be entitled to employ such legal counsel and other
experts as you may deem necessary properly to advise you in connection with your
obligations hereunder, may rely upon the advice of such counsel, and may pay
such counsel reasonable compensation therefor.

         12. Your responsibilities as Escrow Agent hereunder shall terminate if
you shall resign by written notice to each party. In the event of any such
termination, the Company may appoint any officer or assistant officer of the
Company or any other party as successor Escrow Agent and Shareholder hereby
confirms the appointment of such successor or successors as his attorney-in-fact
and agent to the full extent of your appointment.

         13. If you reasonably require other or further instruments in
connection with these Joint Escrow Instructions or obligations in respect
hereto, the necessary parties hereto shall join in furnishing such instruments.

         14. It is understood and agreed that should any dispute arise with
respect to the delivery and/or ownership or right of possession of the
securities, you may (but are not obligated

                                       2

<PAGE>

to) retain in your possession without liability to anyone all or any part of
said securities until such dispute shall have been settled either by mutual
written agreement of the parties concerned or by a final order of the arbitrator
pursuant to Section 15 below.

         15. In the event of any dispute concerning or arising out of this Joint
Escrow Instructions, such dispute shall be submitted by the parties to
arbitration. Arbitration proceedings may be commenced by either party giving the
other party written notice thereof and proceeding thereafter in accordance with
the rules and procedures of the American Arbitration Association. Any such
arbitration shall take place before a single arbitrator only in San Diego,
California. Any such arbitration shall be governed by and subject to the
applicable laws of the State of California (including the discovery provisions
of the California Civil Code and the California Code of Civil Procedure,
including specifically Section 1283.05 of the California Code of Civil
Procedure), and the then prevailing rules of the American Arbitration
Association. The arbitrator's award in any such arbitration shall be final and
binding, and a judgment upon such award may be enforced by any court of
competent jurisdiction.

         16. Any notice required or permitted hereunder shall be given in
writing and shall be deemed effectively given upon personal delivery or upon
deposit in any United States Post Box, by registered or certified mail with
postage and fees prepaid, addressed to each of the other parties hereunto
entitled at the following addresses, or at such other addresses as a party may
designate by ten days' written notice to each of the other parties hereto:

COMPANY:                   Advanced Aerodynamics & Structures, Inc.
                           3205 Lakewood Boulevard
                           Long Beach, CA  90808

SHAREHOLDER:               ________________________

                           ________________________

                           ________________________

ESCROW AGENT:              Advanced Aerodynamics & Structures, Inc.
                           3205 Lakewood Boulevard
                           Long Beach, CA  90808

         17. By signing these Joint Escrow Instructions you become a party
hereto only for the purpose of said Joint Escrow Instructions; you do not become
a party to the Agreement.

                                       3

<PAGE>

         18. This instrument shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and permitted assigns. It is
understood and agreed that references to "you" or "your" herein refer to the
original Escrow Agent and to any and all successor Escrow Agents. It is
understood and agreed that the Company may at any time or from time to time
assign its rights under the Agreement and these Joint Escrow Instructions in
whole or in part.

                                Very truly yours,

                                ADVANCED AERODYNAMICS &
                                STRUCTURES, INC., a Delaware corporation

                                By:_____________________________________________

                                   _____________________________________________

                                SHAREHOLDER:

                                ________________________________________________

ESCROW AGENT:

ADVANCED AERODYNAMICS &
STRUCTURES, INC.

By:___________________________________________

   ___________________________________________

                                       4Exhibit 10.17

                          SECURITIES PURCHASE AGREEMENT

     SECURITIES  PURCHASE AGREEMENT (the "Agreement"),  dated as of May 17, 2002
by and among CBCom, Inc., a Delaware  corporation,  with headquarters located at
16830 Ventura Boulevard,  Suite 211, Encino,  California 91436, (the "Company"),
and Ashland Partners,  a California  general  partnership,  located at 101 South
Robertson Boulevard, Suite 210, Los Angeles, California 90048, (the "Buyer").

     WHEREAS:

     A. The Company and the Buyer are executing and delivering this Agreement in
reliance upon the exemption from securities registration afforded by Rule 506 of
Regulation D ("Regulation D") as promulgated by the United States Securities and
Exchange  Commission  (the "SEC") under the  Securities  Act of 1933, as amended
(the "1933 Act") and/or Rule 4(2) thereof;

     B. The Company  owes Buyer,  pursuant to a Secured  Convertible  Debenture,
$100,000 with interest at 6.67 percent per annum, all due and payable on June 6,
2002 (the "Debenture").

     C. The Company has  authorized  the  issuance  of  5,000,000  shares of its
Common Stock (the "Shares") to be sold to Buyer.

     D. The Buyer wishes to purchase,  upon the terms and  conditions  stated in
this  Agreement,  an aggregate  of up to  5,000,000  shares of Common Stock (the
"Shares").

     NOW THEREFORE, the Company and the Buyer hereby agree as follows:

     1. PURCHASE AND SALE OF COMMON SHARES.
        ----------------------------------

          a. Sale of Shares.  The Company  hereby  sells to the Buyer  5,000,000
             --------------
shares of the Company's Common Stock (the "Certificates") and agrees that within
five (5) days from the close of this  Agreement,  to have  certificates  for the
Shares issued in the name of Ashland Partners.

          b. Purchase of Shares. The Buyer hereby purchases from the Company the
             ------------------
Shares, and, in consideration therefore, shall pay to the Company the following:

                (1)        $150,000 in cash

                (2)        Cancellation of the Secured Convertible Debenture

                                    10.17-1
<PAGE>

     2. LOCK-UP
        -------

          The Buyer agrees to hold the Shares for two years from the date hereof
and not sell, transfer,  place in street-name,  pledge or hypothecate during the
two-  year  period.  At the end of the  two-year  period  the  Buyer may sell or
transfer the Shares pursuant to rule 144 of the Securities Act of 1933.

     3. BUYER'S REPRESENTATIONS AND WARRANTIES.
        --------------------------------------

          The Buyer represents and warrants that:

          a. Investment Purpose.  The Buyer (i) is acquiring the Shares and (ii)
             ------------------
for its own  account for  investment  only and not with a view  towards,  or for
resale in  connection  with,  the public sale or  distribution  thereof,  except
pursuant to sales registered or exempted under the 1933 Act; provided,  however,
that by making the representations  herein, the Buyer does not agree to hold any
of the  Securities for any minimum or other specific term and reserves the right
to dispose of the  Securities  at any time in  accordance  with or pursuant to a
registration statement or an exemption under the 1933 Act.

          b. Accredited  Investor Status. The Buyer is an "accredited  investor"
             ---------------------------
as that term is defined in Rule 501(a)(3) of Regulation D.

          c. Reliance on Exemptions.  The Buyer  understands that the Shares are
             ----------------------
being  offered  and  sold to it in  reliance  on  specific  exemptions  from the
registration requirements of the United States federal and state securities laws
and that the Company is relying in part upon the truth and  accuracy of, and the
Buyer's   compliance   with,  the   representations,   warranties,   agreements,
acknowledgments  and  understandings  of the Buyer set forth  herein in order to
determine the  availability  of such exemptions and the eligibility of the Buyer
to acquire the Shares.

          d.  Information.  The  Buyer  has been  furnished  with all  materials
             ------------
relating to the business,  finances and  operations of the Company and materials
relating to the offer and sale of the Shares  which have been  requested  by the
Buyer.  The Buyer has been  afforded  the  opportunity  to ask  questions of the
Company.  Neither  such  inquiries  nor any other due  diligence  investigations
conducted by the Buyer or its  advisors,  if any, or its  representatives  shall
modify,   amend  or  affect  the  Buyer's   right  to  rely  on  the   Company's
representations  and  warranties   contained  in  Section  4  below.  The  Buyer
understands  that its  investment in the Shares  involves a high degree of risk.
The Buyer has sought such accounting,  legal and tax advice as it has considered
necessary  to  make  an  informed   investment  decision  with  respect  to  its
acquisition of the Shares.

                                    10.17-2
<PAGE>

          e. No Governmental Review. The Buyer understands that no United States
             ----------------------
federal  or state  agency or any other  government  or  governmental  agency has
passed  on or made  any  recommendation  or  endorsement  of the  Shares  or the
fairness  or  suitability  of  the  investment  in  the  Shares  nor  have  such
authorities passed upon or endorsed the merits of the offering of the Shares.

          f. Transfer or Resale.  The Buyer understands that (i) the Shares have
             ------------------
not been and are not being  registered  under  the 1933 Act or any state  Shares
laws, and after the Lock-Up period may not be offered for sale,  sold,  assigned
or transferred  unless (A)  subsequently  registered  thereunder,  (B) the Buyer
shall have  delivered  to the  Company an opinion  of  counsel,  in a  generally
acceptable  form,  to the  effect  that  such  Shares  to be sold,  assigned  or
transferred may be sold,  assigned or transferred  pursuant to an exemption from
such  registration,  or (C) the  Buyer  provides  the  Company  with  reasonable
assurance that such Shares can be sold, assigned or transferred pursuant to Rule
144  promulgated  under the 1933 Act, as amended,  (or a successor rule thereto)
("Rule  144");  (ii) any sale of the Shares  made in reliance on Rule 144 may be
made only in accordance  with the terms of Rule 144 and further,  if Rule 144 is
not applicable, any resale of the Shares under circumstances in which the seller
(or the person through whom the sale is made) may be deemed to be an underwriter
(as that term is defined in the 1933 Act) may require compliance with some other
exemption under the 1933 Act or the rules and regulations of the SEC thereunder;
and (iii)  neither the Company nor any other person is under any  obligation  to
register  the Shares  under the 1933 Act or any state  Shares  laws or to comply
with the terms and conditions of any exemption thereunder.

          g. Legends.   The Buyer  understands  that the  certificates  or other
             -------
instruments   representing  the  Shares  shall  bear  a  restrictive  legend  in
substantially  the  following  form  (and a  stop-transfer  order  may be placed
against transfer of such stock certificates):

               THE SECURITIES  REPRESENTED BY THIS  CERTIFICATE HAVE NOT
               BEEN  REGISTERED  UNDER THE  SECURITIES  ACT OF 1933,  AS
               AMENDED,   OR  APPLICABLE   STATE  SECURITIES  LAWS.  THE
               SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
               OR  ASSIGNED  (I) IN  THE  ABSENCE  OF  (A) AN  EFFECTIVE
               REGISTRATION  STATEMENT  FOR  THE  SECURITIES  UNDER  THE
               SECURITIES ACT OF 1933, AS AMENDED,  OR APPLICABLE  STATE
               SECURITIES  LAWS  OR  (B) AN  OPINION  OF  COUNSEL,  IN A
               GENERALLY  ACCEPTABLE  FORM,  THAT  REGISTRATION  IS  NOT
               REQUIRED  UNDER SAID ACT OR APPLICABLE  STATE  SECURITIES
               LAWS OR (II) UNLESS SOLD  PURSUANT TO RULE 144 UNDER SAID
               ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE
               PLEDGED IN CONNECTION  WITH A BONA FIDE MARGIN ACCOUNT OR
               OTHER LOAN SECURED BY THE SECURITIES.

The legend  set forth  above  shall be removed  and the  Company  shall  issue a
certificate  without  such  legend to the holder of the Shares  upon which it is
stamped, if, unless otherwise required by federal or state securities laws, that
(i) such Shares are registered for resale under the 1933 Act, (ii) in connection

                                    10.17-3
<PAGE>

with a sale  transaction,  such holder  provides  the Company with an opinion of
counsel,  in a generally  acceptable  form,  to the effect  that a public  sale,
assignment or transfer of the Shares may be made without  registration under the
1933 Act, or (iii) such holder provides the Company with  reasonable  assurances
that the Shares can be sold pursuant to Rule 144 without any  restriction  as to
the  number of  securities  acquired  as of a  particular  date that can then be
immediately sold.

          h. Authorization; Enforcement; Validity.  This Agreement has been duly
             ------------------------------------
and validly  authorized,  executed and delivered on behalf of the Buyer and is a
valid and  binding  agreement  of the Buyer,  enforceable  against  the Buyer in
accordance with its terms, subject as to enforceability to general principles of
equity and to applicable  bankruptcy,  insolvency,  reorganization,  moratorium,
liquidation  and other  similar laws  relating to, or affecting  generally,  the
enforcement of applicable creditors' rights and remedies.

     4. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.
        ---------------------------------------------

          The Company represents and warrants to the Buyer that:

          a. Organization and Qualification.  The Company and its "Subsidiaries"
             ------------------------------
(which,  for purposes of this Agreement,  means any entity in which the Company,
directly  or  indirectly,  owns  capital  stock or holds an  equity  or  similar
interest) are corporations  duly organized and validly existing in good standing
under the laws of the jurisdiction in which they are incorporated,  and have the
requisite corporate power and authorization to own their properties and to carry
on  their  business  as now  being  conducted.  Each  of  the  Company  and  its
Subsidiaries is duly qualified as a foreign corporation to do business and is in
good  standing in every  jurisdiction  in which its ownership of property or the
nature of the  business  conducted  by it makes  such  qualification  necessary,
except to the extent that the failure to be so qualified or be in good  standing
would not have a material adverse effect.

          b. Authorization; Enforcement; Validity.   (i)  The  Company  has  the
             ------------------------------------
requisite   corporate  power  and  authority  to  enter  into  and  perform  its
obligations  under this Agreement and to issue the Shares in accordance with the
terms hereof and thereof,  (ii) the execution and delivery of this Agreement and
the  consummation  by it of the  transaction  contemplated  hereby and  thereby,
including  without  limitation  the  issuance  of  the  Shares  have  been  duly
authorized and  unanimously  approved by the Company's Board of Directors and no
further  consent or  authorization  is  required  by the  Company,  its Board of
Directors or its  stockholders,  (iii) this Agreement has been duly executed and
delivered by the  Company,  (iv) this  Agreement,  upon  execution  and delivery
thereof,  will  constitute  the valid and  binding  obligations  of the  Company
enforceable  against the Company in  accordance  with its terms,  except as such
enforceability  may be  limited by general  principles  of equity or  applicable
bankruptcy, insolvency, reorganization,  moratorium, liquidation or similar laws
relating to, or affecting  generally,  the enforcement of creditors'  rights and
remedies.

                                    10.17-4
<PAGE>

          c. Issuance of Securities.  The Shares are duly  authorized  and, upon
             ----------------------
issuance in accordance with the terms hereof, shall be (i) validly issued, fully
paid and  non-assessable,  and (ii) free from all taxes,  liens and charges with
respect  to the issue  thereof.  The  issuance  by the  Company of the Shares is
exempt from registration  under the 1933 Act, assuming that the  representations
and  warranties  of the Buyer  contained in Section 4 are true and correct as to
factual matters.

          e. No General Solicitation.   Neither  the  Company,  nor any  of  its
             -----------------------
affiliates,  nor any person  acting on its or their  behalf,  has engaged in any
form of general  solicitation  or general  advertising  (within  the  meaning of
Regulation  D under  the 1933 Act) in  connection  with the offer or sale of the
Securities.

          f. No Other Agreements.  The Company has not,  directly or indirectly,
             --------------------
made any  agreements  with the Buyer  relating to the terms or conditions of the
transactions contemplated by the Agreement except as set forth in the Agreement.

     5. COVENANTS.
        ---------

          a. Best Efforts.  Each  party  shall  use its best  efforts  to timely
             ------------
satisfy each of the  conditions  to be satisfied by it as provided in Sections 4
and 5 of this Agreement.

          b. Form D and Blue Sky.  The  Company  agrees  to  file a  Form D with
             ---------------------
respect  to the  Shares as  required  under  Regulation  D and to provide a copy
thereof to the Buyer  promptly  after such filing.  The Company  shall take such
action as the Company shall reasonably determine is necessary in order to obtain
an exemption for or to qualify the Shares for sale to the Buyer pursuant to this
Agreement  under  applicable  securities or "Blue Sky" laws of the states of the
United  States,  and shall  provide  evidence of any such action so taken to the
Buyer.  The Company shall make all filings and reports relating to the offer and
sale of the Shares  required under  applicable  securities or "Blue Sky" laws of
the states of the United States following the date of the Agreement.

          c. Use of Proceeds. The Company will use the proceeds from the sale of
             ---------------
the Shares for working capital and for inventory.

     6. GOVERNING LAW; MISCELLANEOUS.
        ----------------------------

          a. Governing Law; Jurisdiction; Jury Trial.  The corporate laws of the
             ---------------------------------------
State of Delaware shall govern all issues  concerning the relative rights of the
Company and its stockholders.  All other questions  concerning the construction,

                                    10.17-5
<PAGE>

validity,  enforcement and interpretation of this Agreement shall be governed by
the  internal  laws of the State of  California,  without  giving  effect to any
choice of law or  conflict  of law  provision  or rule  (whether of the State of
California or any other  jurisdictions)  that would cause the application of the
laws of any jurisdictions other than the State of California.  Each party hereby
irrevocably  submits to the non-exclusive  jurisdiction of the state and federal
courts  sitting  in the City of Los  Angeles,  County  of Los  Angeles,  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 suit,  action or proceeding,  any claim
that it is not personally  subject to the  jurisdiction of any such court,  that
such suit, action or proceeding is brought in an inconvenient  forum or that the
venue of such  suit,  action  or  proceeding  is  improper.  Each  party  hereby
irrevocably  waives  personal  service of process and consents to process  being
served in any such suit,  action or proceeding by mailing a copy thereof to such
party at the address for such 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 HEREBY  IRREVOCABLY
WAIVES  ANY RIGHT IT MAY HAVE,  AND  AGREES  NOT TO REQUEST A JURY TRIAL FOR THE
ADJUDICATION OF ANY DISPUTE  HEREUNDER OR IN CONNECTION  HEREWITH OR ARISING OUT
OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

          b. Counterparts.  This  Agreement  may  be  executed  in  two or  more
             ------------
identical  counterparts,  all of  which  shall  be  considered  one and the same
agreement and shall become effective when  counterparts have been signed by each
party and  delivered to the other  party;  provided  that a facsimile  signature
shall be  considered  due  execution  and shall be  binding  upon the  signatory
thereto with the same force and effect as if the signature were an original, not
a facsimile signature.

          c. Headings.  The headings  of this  Agreement are for  convenience of
             --------
reference  and shall not form part of, or affect  the  interpretation  of,  this
Agreement.

          d. Severability.  If  any provision of this Agreement shall be invalid
             ------------
or unenforceable in any jurisdiction,  such invalidity or unenforceability shall
not affect the validity or  enforceability of the remainder of this Agreement in
that  jurisdiction  or the validity or  enforceability  of any provision of this
Agreement in any other jurisdiction.

          e. Entire Agreement;  Amendments.  This Agreement supersedes all other
             -----------------------------
prior  oral  or  written  agreements  between  the  Buyer,  the  Company,  their
affiliates  and  persons  acting on their  behalf  with  respect to the  matters
discussed  herein,  and this  Agreement and the  instruments  referenced  herein
contain  the entire  understanding  of the parties  hereto  with  respect to the
matters covered herein and therein and, except as specifically  set forth herein
or  therein,  neither  the  Company  nor the  Buyer  makes  any  representation,
warranty,  covenant or undertaking with respect to such matters. No provision of
this  Agreement may be amended other than by an instrument in writing  signed by
the Company and the Buyer,  and no provision  hereof may be waived other than by

                                    10.17-6
<PAGE>

an instrument in writing signed by the party against whom enforcement is sought.
No consideration shall be offered or paid to any person to amend or consent to a
waiver or modification of any provision of any of this Agreement unless the same
consideration  also is offered to all of the parties to this  Agreement,  as the
case may be.

          f. Notices.  Any notices,  consents,  waivers or other  communications
             -------
required or permitted to be given under the terms of this  Agreement  must be in
writing  and will be deemed  to have  been  delivered:  (i) upon  receipt,  when
delivered  personally;  (ii)  upon  receipt,  when sent by  facsimile  (provided
confirmation of transmission  is  mechanically or  electronically  generated and
kept on file by the sending party); or (iii) one Business Day after deposit with
a  nationally  recognized  overnight  delivery  service,  in each case  properly
addressed to the party to receive the same. The addresses and facsimile  numbers
for such communications shall be:

                If to the Company:
                  CBCom, Inc.
                  16830 Ventura Boulevard, Suite 211
                  Encino, California  91436
                  Attention:  Charles Lesser, CFO
                           Telephone:       (818) 461-0800
                           Facsimile:       (818) 461-0811

                With a copy to:
                  Law Offices of William B. Barnett
                  15233 Ventura Boulevard, Suite 410
                  Sherman Oaks, CA 91403
                  Attention:  William B. Barnett
                           Telephone:       (818) 789-2688
                           Facsimile:       (818) 789-2680

                If to the Buyer:
                  Ashland Partners
                  101 South Robertson Boulevard, Suite 210
                  Los Angeles, California  90048
                  Attention:  James Rogers, General Partner
                           Telephone:       (310) 246-1200
                           Facsimile:       (310) 273-5759

                Or at such other address and/or  facsimile  number and/or to the
attention of such other person as the  recipient  party has specified by written
notice  given to each other party five days prior to the  effectiveness  of such
change.  Written  confirmation  of receipt  (A) given by the  recipient  of such
notice,   consent,   waiver  or  other   communication,   (B)   mechanically  or
electronically  generated by the sender's facsimile machine containing the time,
date,  recipient  facsimile  number  and an  image  of the  first  page  of such
transmission  or (C)  provided by a  nationally  recognized  overnight  delivery
service shall be rebuttable  evidence of personal service,  receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

                                    10.17-7
<PAGE>

          g. Successors and Assigns.  This Agreement  shall be binding  upon and
             ----------------------
inure to the benefit of the parties and their respective successors and assigns.
The Buyer may assign some or all of its rights hereunder  without the consent of
the Company,  provided,  however, that any such assignment shall not release the
Buyer from its obligations hereunder unless such obligations are assumed by such
assignee and the Company has consented to such assignment and assumption,  which
consent shall not be unreasonably withheld.

          h. No Third Party  Beneficiaries.  This  Agreement is intended for the
             -----------------------------
benefit of the parties  hereto and their  respective  permitted  successors  and
assigns, and is not for the benefit of, nor may any provision hereof be enforced
by, any other person.

          i. Survival. The representations and warranties of the Company and the
             --------
Buyer contained in Section 4 and 5, and the Agreement shall survive the closing.

          j. Publicity.  The  Company  and the  Buyer  shall  have  the right to
             ---------
approve  before  issuance of any press  releases or any other public  statements
with respect to the transactions  contemplated hereby;  provided,  however, that
the Company shall be entitled,  without the prior approval of any Buyer, to make
any press release or other public  disclosure with respect to such  transactions
as is required by applicable law,  regulation,  or rule of the NASD or Principal
Market  (although the Buyer shall be consulted by the Company in connection with
any such press release or other public disclosure prior to its release and shall
be provided with a copy thereof).

          k. Further Assurances. Each party shall do and perform, or cause to be
             ------------------
done and  performed,  all such  further acts and things,  and shall  execute and
deliver all such other agreements,  certificates,  instruments and documents, as
the other  party may  reasonably  request  in order to carry out the  intent and
accomplish  the  purposes  of  this  Agreement  and  the   consummation  of  the
transactions contemplated hereby.

          l. No Strict Construction. The language used in this Agreement will be
             ----------------------
deemed to be the language  chosen by the parties to express their mutual intent,
and no rules of strict construction will be applied against any party.

          m. Remedies.  The Buyer and  each holder of the Shares  shall have all
             --------
rights and  remedies  set forth in this  Agreement  and all rights and  remedies
which such holders  have been  granted at any time under any other  agreement or
contract and all of the rights which such holders have under any law. Any person
having any rights  under any  provision of this  Agreement  shall be entitled to
enforce such rights specifically (without posting a bond or other security),  to
recover  damages by reason of any breach of any provision of this  Agreement and
to exercise all other rights granted by law.

                                    10.17-8
<PAGE>

       IN WITNESS WHEREOF, the Buyer and the Company have caused this Securities
Purchase Agreement to be duly executed as of the date first written above.

 COMPANY:                                  BUYER:

 CBCom, INC.                               ASHLAND PARTNERS

 By:                                       By:
      --------------------------------          --------------------------------
      Chian Yi Sun                              James Rogers
      President                                 General Partner

                                    10.17-9

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