Document:

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                                                                     Exhibit 4.1

                             RESTRICTION ON TRANSFER

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. THIS WARRANT MAY NOT BE
TRANSFERRED, AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
WARRANT CANNOT BE SOLD OR TRANSFERRED, WITHOUT (I) THE OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH TRANSFER MAY BE LAWFULLY MADE
WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ALL
APPLICABLE STATE SECURITIES LAWS OR (II) SUCH REGISTRATION.

                                     WARRANT
                      For the Purchase of the Common Stock
                          Of iLinc Communications, Inc.
                               Warrant Number 685

     This warrant (the "Warrant"), is executed to be effective on July 1, 2006
(the "Effective Date") by and between iLinc Communications, Inc. ("iLinc" or the
"Company"), a Delaware corporation and ComVest West, Inc., a Tennessee
Corporation, with its principal offices located at 110 29th Avenue North, Suite
300, Nashville, TN ("Agent" or "Holder").

     WHEREAS, iLinc is the owner and provider of certain Web conferencing and
audio conferencing products and services; and

     WHEREAS, Agent wishes to assist iLinc with the marketing and sale of
iLinc's products; and

     WHEREAS, iLinc and Agent entered into an agent agreement (the "Agent
Agreement") that was to be effective on or about June 30, 2006 whereby Agent is
authorized to solicit potential distributors on iLinc's behalf (with the
Capitalized terms not defined herein have the meaning given them in the Agent
Agreement);

     NOW, THEREFORE, iLinc and Agent, in exchange for the mutual promises and
conditions contained herein agree as follows:

1.   Grant of Shares and Price. By execution hereof and subject to the terms and
     conditions contained herein (e.g., vesting provisions), Agent or its
     registered assigns (the "Holder"), is hereby granted a warrant (the
     "Warrant") to purchase from the Company up to one million (1,000,000)
     shares of the Company's common stock, par value $0.001 per share (the
     "Common Stock"). Upon exercise of any then vested portion of this Warrant,
     the Holder shall tender to the Company the exercise price equal to $0.55
     per share (the "Exercise Price") for each share acquired. The Exercise
     Price shall be subject to adjustment as provided in Section 5 hereof. This
     Warrant shall remain outstanding until the expiration of the fifth (5th)
     anniversary of the Effective Date (the "Expiration Date"), at which time
     it, and any unexercised portion, shall expire without further force or
     effect. Notwithstanding the foregoing, should the Net Collected Revenue
     (more fully defined in the Agent Agreement) after the expiration of
     twenty-four (24) months from the Effective Date, total less than
     $1,000,000, then the unvested portion of this Warrant shall expire and have
     no further force or effect.

2.   Vesting. This Warrant is tendered to the Holder as an inducement to execute
     and engage in those certain activities more fully described in the Agent
     Agreement of an even date herewith between the Company and Agent. This
     Warrant, shall vest based upon the cumulative amount of Net Collected
     Revenue derived by iLinc from Distributors arranged by Agent and accepted
     by iLinc, thereby designated as a "Agent's Distributor" under the terms of
     the Agent Agreement. Vesting of the Warrant is as follows:

Warrant                                                              Page 1 of 8

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     a.   Agent may purchase up to 200,000 shares of Common Stock should the
          cumulative Net Collected Revenue exceed $1,000,000;
     b.   Agent may purchase an additional 200,000 shares of Common Stock should
          the cumulative Net Collected Revenue exceed $2,000,000;
     c.   Agent may purchase an additional 200,000 shares of Common Stock should
          the cumulative Net Collected Revenue exceed $5,000,000;
     d.   Agent may purchase an additional 200,000 shares of Common Stock should
          the cumulative Net Collected Revenue exceed $8,000,000; and,
     e.   Agent may purchase an additional 200,000 shares of Common Stock should
          the cumulative Net Collected Revenue exceed $12,000,000

3.   Exercise. The rights represented by this Warrant may be exercised by the
     Holder hereof, in whole or in part, by written notice of exercise delivered
     to the Company and by the surrender of this Warrant (properly endorsed if
     required) at the principal office of the Company at 2999 North 44th Street,
     Suite 650, Phoenix, Arizona 85018 (or such other location as the Company
     may designate by notice in writing to the Holder hereof) and upon payment
     to it by certified check of the Exercise Price for the number of vested
     shares of Common Stock to be issued upon exercise (the "Warrant Shares").
     The Company shall not be required to issue fractions of shares of Common
     Stock upon exercise of this Warrant. If any fraction of a share would, but
     for this Section, be issuable upon any exercise of this Warrant, and if the
     Company has elected not to issue such fraction of a share, in lieu of such
     fractional share the Company shall pay to the Holder, in cash, an amount
     equal to such fraction of the fair market value per share of outstanding
     Common Stock of the Company on the Business Day immediately prior to the
     date of such exercise (the fair market value for such purpose shall be the
     closing price of the Common Stock on the principal stock exchange on which
     the Common Stock is then traded or the principal quotation system in which
     bid and ask prices for the Common Stock are then maintained). The Company
     agrees that the shares so purchased shall be and are deemed to be issued to
     the Holder as the record owner of such shares as of the close of business
     on the date on which this Warrant shall have been surrendered and payment
     tendered for such shares as aforesaid. Subject to the provisions of the
     next succeeding paragraph, certificates for the shares of stock so
     purchased (bearing an appropriate legend to indicate that the shares have
     not been registered under securities laws) shall be delivered to the Holder
     hereof within a reasonable time, not exceeding 10 days, after the rights
     represented by this Warrant shall have been so exercised, and, unless this
     Warrant has expired, a new Warrant reflecting the shares, if any, as to
     which this Warrant shall not then have been exercised shall also be
     delivered to the Holder hereof within such time.

4.   Restriction Upon Sale. The Holder acknowledges that this Warrant as well as
     the Warrant Shares for which this Warrant may be exercised, have not been
     and, except as otherwise provided herein, will not be registered under the
     Securities Act of 1933, as amended (the "Act"), or qualified under
     applicable state securities laws and that the transferability thereof is
     restricted by the registration provisions of the Act as well as such state
     laws. The Holder represents that it is acquiring the Warrant and will
     acquire the Warrant Shares for its own account, for investment purposes
     only and not with a view to resale or other distribution thereof, nor with
     the intention of selling, transferring or otherwise disposing of all or any
     part of such securities for any particular event or circumstance, except
     selling, transferring or disposing of them upon full compliance with all
     applicable provisions of the Act, the Securities Exchange Act of 1934, as
     amended (the "Exchange Act"), the Rules and Regulations promulgated by the
     Securities and Exchange Commission (the "Commission") thereunder, and any
     applicable state securities laws. The Holder further understands and agrees

Warrant                                                              Page 2 of 8

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     that (i) neither the Warrant nor the Warrant Shares may be sold unless they
     are subsequently registered under the Act and qualified under any
     applicable state securities laws or, in the opinion of the Company's
     counsel, an exemption from such registration and qualification is
     available; (ii) any routine sales of the Company's securities made in
     reliance upon Rule 144 promulgated by the Commission under the Act, can be
     effected only in the amounts set forth in and pursuant to the other terms
     and conditions, including applicable holding periods, of that Rule; and
     (iii) except as otherwise set forth herein, the Company is under no
     obligation to register the Warrant or the Warrant Shares on its behalf or
     to assist it in complying with any exemption from registration under the
     Act. The Holder agrees that each certificate representing any Warrant
     Shares for which this Warrant may be exercised will bear on its face a
     legend in substantially the following form:

          THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE
          SECURITIES ACT OF 1933 OR QUALIFIED UNDER ANY STATE
          SECURITIES LAWS. THEY MAY NOT BE SOLD, HYPOTHECATED OR
          OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE
          REGISTRATION STATEMENT UNDER THAT ACT OR QUALIFICATION UNDER
          APPLICABLE STATE SECURITIES LAWS WITHOUT AN OPINION
          ACCEPTABLE TO COUNSEL TO THE COMPANY THAT SUCH REGISTRATION
          AND QUALIFICATION ARE NOT REQUIRED.

     The Company covenants and agrees that:

     a.   all shares that may be issued upon the exercise of the rights
          represented by this Warrant will, upon issuance, be duly authorized
          and issued, fully paid and nonassessable and free from all preemptive
          rights of any stockholder, and from all taxes, liens and charges with
          respect to the issue thereof (other than transfer taxes);
     b.   during the period within which the rights represented by this Warrant
          may be exercised, the Company will at all times have authorized, and
          reserved for the purpose of issue or transfer upon exercise of the
          subscription rights evidenced by this Warrant, a sufficient number of
          shares of its Common Stock to provide for the exercise of the rights
          represented by this Warrant;
     c.   during the period within which the rights represented by this Warrant
          may be exercised, the Company further will use reasonable best efforts
          to maintain the eligibility of the Common Stock for listing on the
          American Stock Exchange and quotation on the domestic over-the-counter
          market and use reasonable best efforts to keep the Common Stock so
          listed and quoted.

5.   Reorganization or Split. If the Company shall, after the date of issuance
     of this Warrant, subdivide its outstanding shares of Common Stock into a
     greater number of shares or consolidate its outstanding shares of Common
     Stock into a smaller number of shares (any such event being called a
     "Common Stock Reorganization"), then the Exercise Price shall be adjusted,
     effective at such time, to a number determined by multiplying the Exercise
     Price then in effect by a fraction, the numerator of which shall be the
     number of shares of Common Stock outstanding immediately before such Common
     Stock Reorganization and the denominator of which shall be the number of
     shares outstanding after giving effect to such Common Stock Reorganization.
     If the Company shall after the date of issuance of this Warrant issue or
     distribute to all or substantially all holders of shares of Common Stock
     evidences of indebtedness, any other securities of the Company or any
     property or assets other than cash, and if such issuance or distribution
     does not constitute a Common Stock Reorganization (any such non-excluded
     event being herein called a "Non-Cash Dividend"), the Exercise Price shall
     be adjusted, effective immediately after the record date at which the
     holders of shares of Common Stock are determined for purposes of such
     Non-Cash Dividend, to a number determined by multiplying the Exercise Price
     immediately before such Non-Cash Dividend by a fraction, the numerator of
     which shall be the last sales price per share of outstanding Common Stock
     of the Company on such record date less the then fair market value, as

Warrant                                                              Page 3 of 8

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     determined in good faith by the Board of Directors of the Company, of the
     evidences of indebtedness, securities, cash, or property or other assets
     issued or distributed in such Non-Cash Dividend with respect to one share
     of Common Stock and the denominator of which shall be the last sales price
     per share of outstanding Common Stock on such record date. If after the
     date of issuance of this Warrant there shall be any consolidation or merger
     to which the Company is a party, other than a consolidation or a merger in
     which the Company is a continuing corporation and which does not result in
     any reclassification of, or change (other than a Common Stock
     Reorganization or a change in par value) in, outstanding shares of Common
     Stock, or any sale or conveyance of the property of the Company as an
     entirety or substantially as an entirety (any such event being called a
     "Capital Reorganization"), then, effective upon the effective date of such
     Capital Reorganization, the Holder shall have the right to purchase, upon
     exercise of this Warrant and in lieu of the shares of Common Stock
     immediately theretofore purchasable hereunder, the kind and amount of
     shares of stock and other securities and property (including cash) which
     the Holder would have owned or have been entitled to receive after such
     Capital Reorganization if this Warrant had been exercised immediately prior
     to such Capital Reorganization, assuming such holder (i) is not a person
     with which the Company consolidated or into which the Company merged or
     which merged into the Company or to which such sale or conveyance was made,
     as the case may be ("constituent person") and (ii) failed to exercise his
     rights of election, if any, as to the kind or amount of securities, cash or
     other property receivable upon such Capital Reorganization (provided that
     if the kind or amount of securities, cash or other property receivable upon
     such Capital Reorganization is not the same for each share of Common Stock
     held immediately prior to such consolidation, merger, sale or conveyance by
     other than a constituent person or an affiliate thereof and in respect of
     which such rights of election shall not have been exercised ("non electing
     share"), then for the purposes of this paragraph the kind and amount of
     shares of stock and other securities or other property (including cash)
     receivable upon such Capital Reorganization shall be deemed to be the kind
     and amount so receivable per share by a plurality of the non electing
     shares). As a condition to effecting any Capital Reorganization, the
     Company or the successor or surviving corporation, as the case may be,
     shall execute and deliver to the Holder an agreement as to the Holder's
     rights in accordance with this Section 5(c), providing for subsequent
     adjustments as nearly equivalent as may be practicable to the adjustments
     provided for in this Section 5. If the Company shall set a record date to
     determine the holders of shares of Common Stock for purposes of a Common
     Stock Reorganization, Non-Cash Dividend or Capital Reorganization, and
     shall legally abandon such action prior to effecting such action, then no
     adjustment shall be made pursuant to this Section 5 in respect of such
     action. No adjustment in the Exercise Price shall be made hereunder unless
     such adjustment increases or decreases such price by one percent (1%) or
     more, but any such lesser adjustment shall be carried forward and shall be
     made at the time and together with the next subsequent adjustment which
     together with any adjustments so carried forward shall serve to adjust such
     price by one percent or more. No adjustment in the Exercise Price shall be
     made hereunder if such adjustment would reduce the exercise price to an
     amount below par value of the Common Stock. As a condition precedent to the
     taking of any action which would require an adjustment pursuant to this
     Section 5, the Company shall take any action which may be necessary,
     including obtaining regulatory approvals or exemptions, in order that the
     Company may thereafter validly and legally issue as fully paid and
     nonassessable all shares of Common Stock which the Holder is entitled to
     receive upon exercise thereof. Promptly after an adjustment or readjustment
     pursuant to this Section 5 becomes determinable, the Company shall give
     notice to the Holder of any action which requires an adjustment or
     readjustment pursuant to this Section 5, describing such event in
     reasonable detail and specifying the record date or effective date, if
     determinable, the required adjustment and the computation thereof, if
     applicable. If the Holder fails to object to any such notice within 30 days
     of receipt of the Company's notice, the adjustment will be deemed accepted
     by the Holder.

Warrant                                                              Page 4 of 8

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6.   Replacement. Upon receipt of evidence satisfactory to the Company of the
     loss, theft, destruction or mutilation of any Warrant and, in the case of
     any such loss, theft or destruction, upon receipt of indemnity or security
     reasonably satisfactory to the Company (the original Holder's indemnity
     being satisfactory indemnity in the event of loss, theft or destruction of
     any Warrant owned by such Holder), or, in the case of any such mutilation,
     upon surrender and cancellation of such Warrant, the Company will make and
     deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a
     new Warrant of like tenor and representing the right to purchase the same
     aggregate number of shares of Common Stock as provided for in such lost,
     stolen, destroyed or mutilated Warrant.

7.   Transfer. The Holder of this Warrant, by acceptance hereof, may not
     transfer, sell or assign this Warrant to any person or entity, unless upon
     the liquidation or other winding up event of Agent providing for Agent's
     dissolution or liquidation to its shareholders, or for such other business
     purpose that foster the business of Agent or a distribution of this Warrant
     to the shareholders of Agent. Holder agrees to give written notice to the
     Company before transferring this Warrant of such Holder's intention to do
     so, describing briefly the manner of any proposed transfer of this Warrant.
     Such Holder shall also provide the Company with an opinion of counsel
     reasonably satisfactory to the Company to the effect that the proposed
     transfer of this Warrant may be effected without registration or
     qualification (under any Federal or State law) and without causing the loss
     of the applicable securities law registration exemption(s) relied upon by
     the Company when it issued this Warrant.

8.   Piggy-Back Registration. If at any time after the expiration of one hundred
     twenty (120) days after the Effective Date but prior to the second
     anniversary of the Effective Date the Company determines to register any of
     its common stock under the Securities Act for sale to the public, whether
     for its own account or for the account of other security holders or both
     (except with respect to registration statements on Form S-8 or its then
     equivalent, or in connection with a Rule 145 transaction or Form S-4 or its
     equivalent, or another form not available for registering the shares of
     Common Stock issuable upon exercise of this Warrant for sale to the
     public), each such time it will give prompt written notice to the Holder of
     its intention so to do and of the proposed method of distribution of such
     securities. Upon the written request of the Holder, received by the Company
     within thirty (30) days after the giving of any such notice by the Company,
     to include in the registration all or any part of the shares of Common
     Stock issuable upon exercise of this Warrant, the Company will cause the
     shares of Common Stock issuable upon exercise of this Warrant as to which
     registration shall have been so requested to be included in the securities
     to be covered by the registration statement proposed to be filed by the
     Company, all to the extent and under the conditions such registration is
     permitted under the Securities Act.

9.   Notice. Any notices required or permitted to be given under the terms of
     this Warrant shall be sent by certified or registered mail (with return
     receipt requested) or delivered personally or by courier (including a
     nationally recognized overnight delivery service) or by facsimile
     transmission. Any notice so given shall be deemed effective three days
     after being deposited in the U.S. Mail, or upon receipt if delivered
     personally or by courier or facsimile transmission, in each case addressed
     to a party at the following address or such other address as each such
     party furnishes to the other in accordance with this Section 11: If to the
     Company then to 2999 North 44th Street, Suite 650, Phoenix, AZ 85018;
     Telephone: (602) 952-1200; Facsimile: (602) 952-0544; Attention: President.
     If to the Holder then to 110 29th Avenue North, Suite 300, Nashville, TN
     37203; Phone: 615.327.1212; Fax: 615.327.8140.

10.  Miscellaneous. No failure or delay of either party in exercising any power
     or right hereunder shall operate as a waiver thereof, nor shall any single
     or partial exercise of any such right or power, or any abandonment or
     discontinuance of steps to enforce such a right or power, preclude any
     other or further exercise thereof or the exercise of any other right or
     power. The rights and remedies of the Holder are cumulative and not

Warrant                                                              Page 5 of 8

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     exclusive of any rights or remedies which it would otherwise have. The
     provisions of this Warrant may be amended, modified or waived with (and
     only with) the prior written consent of the Company and the Holder. All
     covenants, promises and agreements contained in this Warrant by or on
     behalf of either party shall bind its successors and assigns, whether so
     expressed or not. In case any one or more of the provisions contained in
     this Warrant shall be invalid, illegal or unenforceable in any respect, the
     validity, legality or enforceability of the remaining provisions contained
     herein and therein shall not in any way be affected or impaired thereby.
     The parties shall endeavor in good faith negotiations to replace the
     invalid, illegal or unenforceable provisions with valid provisions the
     economic effect of which comes as close as possible to that of the invalid,
     illegal or unenforceable provisions. This Warrant shall be governed by and
     construed in accordance with the substantive laws (but not the rules
     governing conflicts of laws) of the State of Delaware.

              [The remainder of the page intentionally left blank.]

Warrant                                                              Page 6 of 8

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     IN WITNESS WHEREOF, the parties have caused this Warrant to be signed by
its duly authorized officer and to be effective on the first date written above.

iLinc Communications, Inc.

By: /s/ JAMES M. POWERS, JR
    ---------------------------
    James M. Powers, Jr.
    President and Chief Executive Officer

Date: June 30, 2006
      -------------------------

ComVest West, Inc.

By: /s/ ROBERT E. LABREC
    ---------------------------
    Robert E. LaBrec,
    President

Date:  June 28, 2006
      -------------------------

Warrant                                                              Page 7 of 8

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                                   Exhibit "A"
                                SUBSCRIPTION FORM

To be Executed by the Holder of this Warrant if such Holder
Desires to Exercise this Warrant in Whole or in Part:

To:  iLinc Communications, Inc. (the "Company")

     The undersigned  _______________________________________________________

     Please insert Social Security or other
     identifying number of Subscriber:  _____________________________________

hereby irrevocably elects to exercise the right of purchase represented by this
Warrant for, and to purchase thereunder, _________ shares of Common Stock of the
Company and tenders payment herewith to the order of the Company in the amount
of $__________________, such payment being made as provided on the face of this
Warrant. Please issue a new Warrant for the unexercised portion of the attached
Warrant in the name of the undersigned or in such other name as is specified
below.

     The undersigned requests that certificates for shares of Common Stock be
issued as follows:

Name: _____________________________

Address: __________________________

Deliver to: _______________________

Address: ___________________________________________

Dated: __________________________________

X _________________________________________
Signature

Note: The signature on this Subscription Form must correspond with the name as
written upon the face of this Warrant in every particular, without alteration or
enlargement or any change whatever.

Warrant                                                              Page 8 of 8Exhibit 10.1

                           CONVERTIBLE LOAN AGREEMENT

         This Convertible Loan Agreement ("Agreement") is entered into by and
between American Consolidated Management Group, Inc., a Utah corporation (the
"Company") and Upstate Capital Investments, Inc. ("Lender") to be effective as
of the 28th day of June, 2006.

                                   WITNESSETH:

         WHEREAS, the Company is in need of immediate capital to fund its
planned operations;

         WHEREAS, Lender is willing to make a loan to the Company in the
aggregate principal amount of FIVE HUNDRED THOUSAND DOLLARS ($500,000 USD) upon
the terms and conditions set forth herein and the Company is willing to borrow
the stated amount upon such terms;

         WHEREAS, the loan amount will be evidenced by that certain Convertible
Promissory Note in the form attached hereto as Exhibit A (the "Note"),
convertible into shares of common stock, par value $.20 (twenty cents) per
share, of the Company (the "Common Stock"); and

         WHEREAS, upon the terms and conditions set forth herein, the Company
agrees to provide certain registration rights under the Securities Act of 1933,
as amended (the "Securities Act"), and the rules and regulations promulgated
thereunder, and applicable state securities laws.

         NOW, THEREFORE, IT IS AGREED AS FOLLOWS:

Section 1. The Loan.

         1.1. Contemporaneously with the execution of this Agreement, the
Company shall issue and deliver to Lender the Note in exchange for Lender's loan
to the Company of the aggregate principal amount of FIVE HUNDRED THOUSAND
DOLLARS ($500,000 USD) (the "Loan"). At the Lender's option, the Note may be
converted at any time after issuance into validly issued, fully paid and
nonassessable shares of Common Stock at the rate of one share of Common Stock
for every twenty cents ($.20) in amounts owing that are converted, upon the
terms and conditions set forth in this Agreement and the Note.

         1.2. The Company shall use the net proceeds of the Note for working
capital and other purposes.

Section 2. Finance Charges. All outstanding principal represented by the Note
shall bear interest at the rate of twelve percent (12%) per annum. Interest will
be computed on the basis of a 365-day year for actual days elapsed.

Section 3. Payments. Principal and all accrued interest shall be due and payable
in a single balloon payment on the one year anniversary of this Agreement. The
Company may not prepay any amounts owed to Lender without Lender's written
approval. Payments shall be applied first to late charges and collection costs,
if any, then to accrued interest to the date of payment, and then to the
principal outstanding.

<PAGE>

Section 4. Deliveries. Contemporaneously with the execution of this Agreement,
the parties shall deliver to each other the following:

                  (a)      The properly executed Note of even date herewith by
                           and between Lender and the Company in the principal
                           amount of FIVE HUNDRED THOUSAND DOLLARS ($500,000).

                  (b)      The Loan proceeds in the amount of FIVE HUNDRED
                           THOUSAND DOLLARS ($500,000), of which TWO HUNDRED
                           SEVENTY-FOUR THOUSAND ONE HUNDRED SEVENTY-SIX DOLLARS
                           AND SEVENTY-FIVE CENTS ($274,176.75 USD) have already
                           been received by the Company.

Section 5. Representations of Lender.

         5.1 Lender's representations in this Agreement are complete and
accurate to the best of Lender's knowledge, and the Company may rely upon them.

         5.2 Lender is able to bear the economic risk of an investment in the
Note and the Common Stock into which the Notes are convertible (the "Shares,"
and together with the Note, the "Securities") can afford the loss of the entire
investment in the Securities, and will, after making an investment in the
Securities, have sufficient means of providing for Lender's current needs and
possible future contingencies.

         5.3 The Securities will not be sold by Lender without registration
under applicable securities acts or a proper exemption from such registration.

         5.4 The Securities are being acquired for Lender's own account and
risk, for investment purposes, and not on behalf of any other person or with a
view to, or for resale in connection with, any distribution thereof within the
meaning of the Securities Act. Lender is aware that there are substantial
restrictions on the transferability of the Securities.

         5.5 Lender has had access to any and all information concerning the
Company that Lender and Lender's financial, tax and legal advisors required or
considered necessary to make a proper evaluation of this investment.
Specifically, Lender has had the opportunity to review the Company's annual
report on Form 10-KSB for the fiscal year ended December 31, 2004 and all
subsequent filings by the Company (the "Filings") with the Securities and
Exchange Commission ("SEC"). Lender also understands that the Company is
delinquent in timely filing required reports with the SEC. In making the
decision to acquire the Securities, the Lender and Lender's advisers have relied
solely upon their own independent investigations, the Filings and the
information provided in this Agreement, and fully understand that there are no
guarantees, assurances or promises in connection with any investment hereunder
and understands that the particular tax consequences arising from this
investment in the Company will depend upon Lender's individual circumstances.
Lender further understands that no opinion is being given as to any securities
or tax matters involving the offering.

         5.6 Lender also understands and agrees that stop transfer instructions
relating to the Securities will be placed in the Company's transfer ledger, and
that the Securities will bear a restrictive legend pursuant to Rule 144.

                                       2
<PAGE>

         5.7 Lender knows that the Securities are offered and sold pursuant to
exemptions from registration under the Securities Act of 1933, and state
securities law based, in part, on these warranties and representations, which
are the very essence of this Agreement, and constitute a material part of the
bargained-for consideration without which this Agreement would not have been
executed.

         5.8 Lender has the capacity to protect Lender's own interest in
connection with this transaction or has a pre-existing personal or business
relationship with the Company or one or more of Lender's officers, directors or
controlling persons consisting of personal or business contacts of a nature and
duration such as would enable a reasonably prudent purchaser to be aware of the
character, business acumen and general business and financial circumstances of
such person with whom such relationship exists.

         5.9 This Agreement when fully executed and delivered by the Company
will constitute a valid and legally binding obligation of Lender, enforceable in
accordance with its terms. Lender was not formed or organized for the specific
purpose of acquiring the Securities. In the event Lender is an entity, the
purchase of the Securities by Lender is a permissible investment in accordance
with Lender's Articles of Incorporation or other similar charter document, and
has been duly approved by all requisite action by the entity's owners,
directors, officers or other authorized managers. The person signing this
document and all documents necessary to consummate the purchase of the
Securities has all requisite authority to sign such documents on behalf of
Lender.

         5.10 Lender represents that Lender is a sophisticated and an
"accredited investor" as defined under Rule 501 of Regulation D.

Section 6. Representations of the Company.

         6.1 The Company is a duly organized and validly existing corporation in
good standing under the laws of Utah and is duly qualified as a foreign
corporation to do business and is in good standing in every jurisdiction in
which its ownership or use of property or the nature of the business conducted
by it makes such qualification necessary. The Company has no subsidiaries.

         6.2 The Company has all necessary corporate power and authority to
enter into and perform this Agreement and the Securities. The Company has taken
all corporate action necessary to authorize this Agreement and the Securities.

         6.3 The execution and delivery of this Agreement, the performance by
the Company of its obligations under this Agreement and the Securities, and the
consummation of the transactions provided for in this Agreement and the
Securities have been duly and validly authorized by all necessary corporate
action on the part of the Company. This Agreement and the Note will, as of the
effective date set forth above, be duly executed and delivered by the Company
and will constitute the valid and binding agreement of the Company enforceable
against the Company in accordance with its respective terms, subject to
applicable bankruptcy, insolvency and other similar laws affecting the
enforceability of creditors' rights generally, general equitable principles and
the discretion of courts in granting equitable remedies.

         6.4 The execution and delivery by the Company of this Agreement and the
Note, the performance by the Company of its obligations hereunder and
thereunder, and the consummation of the transactions contemplated hereby and
thereby, do not and will not (a) violate or conflict with or result in a breach
of any provision of the Articles of Incorporation or Bylaws of the Company; (b)
require any consent, approval or notice under, or registration under or payment

                                       3
<PAGE>

on account of, or conflict with, or result in a violation or breach of, or
constitute (with or without the giving of notice or the lapse of time or both) a
default (or give rise to any right of termination, modification (including, in
the case of leases, any change in the amount or nature of the rent),
cancellation or acceleration or result in the creation or imposition of any lien
upon the property of the Company) under, any of the terms, conditions or
provisions of any (i) note, bond, mortgage, indenture, license, lease, agreement
or other instrument or obligation to which the Company is a party or by which
any portion of its properties or assets may be bound, or (ii) permit, license,
approval, franchise or other governmental or regulatory authorization held or
used by or binding on the Company; (c) violate or contravene any law, statute,
rule or regulation, or any order, writ, judgment, injunction, decree or award of
any governmental authority binding on the Company; or (d) require any action,
consent, approval or authorization of, or review by, or declaration,
registration or filing with, or notice to, any governmental authority, except
such filings as may be required in connection with applicable securities laws.

         6.5 As of the date hereof, the authorized and outstanding capital stock
and outstanding options and warrants of the Company consists of: 70,000,000
shares of common stock, par value $.01 per share, of which approximately
13,125,652 shares are outstanding, and no outstanding options or warrants. The
Company has entered into convertible loan agreements, prior to the date hereof,
in the principal amount of $325,000 which are convertible into common stock at
the rate of $.20 per share. All outstanding shares of capital stock of the
Company are, or upon issuance will be, duly authorized, validly issued, fully
paid and nonassessable. No shares of capital stock of the Company are subject to
preemptive rights or any other similar rights of the shareholders of the Company
or any liens or encumbrances imposed through the actions or failure to act of
the Company.

         6.6 The Shares issuable upon conversion of the Note are duly authorized
and reserved for issuance and, upon conversion of the Note in accordance with
its terms, will be validly issued, fully paid and nonassessable, and free from
all taxes, liens, claims and encumbrances with respect to the issue thereof and
shall not be subject to preemptive rights or other similar rights of
shareholders of the Company and will not impose personal liability upon the
holder hereof.

         6.7 The Company has not timely filed all reports, schedules, forms,
statements and other documents required to be filed by it with the SEC pursuant
to the reporting requirements of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"). Except as expressly disclosed in such filings or otherwise
in this Agreement, there is no action, suit, claim, proceeding, inquiry or
investigation before or by any court, public board, government agency,
self-regulatory organization or body pending or, to the knowledge of the
Company, threatened against or affecting the Company, or its officers or
directors in their capacity as such that could have a material adverse affect on
the Company.

         6.8 All information relating to or concerning the Company set forth in
this Agreement and provided to Lender pursuant to Section 5.5 hereof or
otherwise in connection with the transactions contemplated hereby is true and
correct in all material respects and the Company has not omitted to state any
material fact necessary in order to make the statements made herein or therein,
in light of the circumstances under which they were made, not misleading. No
event or circumstance has occurred or exists with respect to the Company or its
business, properties, prospects, operations or financial condition which, under
applicable law, rule or regulation, requires public disclosure or announcement
by the Company but which has not been so publicly announced or disclosed.

         6.9 The Company is not obligated to pay any broker's fee, finder's fee,
investment banker's fee or other similar transaction fee in connection with the
transactions contemplated hereby.

                                       4
<PAGE>

Section 7. Miscellaneous.

         7.1. This Agreement, including any attached exhibits or schedules,
constitutes the entire agreement between the parties pertaining to the subject
matter contained in this Agreement. All prior and contemporaneous agreements,
representations and understandings of the parties, oral or written, are
superseded by and merged in this Agreement. No supplement, modification or
amendment of this Agreement shall be binding unless in writing and executed by
the Company and Lender.

         7.2. The provisions of this Agreement shall be binding upon the
Company, its legal representatives, successors or assigns, and shall be for the
benefit of Lender and Lender's respective successors and assigns.

         7.3. The headings of this Agreement are for purposes of reference only
and shall not limit or define the meaning of any provision of this Agreement.
This Agreement may be executed in any number of counterparts, each of which
shall be an original but all of which shall constitute one and the same
instrument.

         7.4. No waiver of any of the provisions of this Agreement shall
constitute a waiver of any other provision, whether or not similar, nor shall
any waiver be a continuing waiver. Except as expressly provided in this
Agreement, no waiver shall be binding unless executed in writing by the party
making the waiver. Either party may waive any provision of this Agreement
intended for its benefit; provided, however, such waiver shall in no way excuse
the other party from the performance of any of its other obligations under this
Agreement.

         7.5. The representations, warranties, acknowledgments and agreements
made by Lender shall survive the closing of the transaction described herein and
run in favor of, and for the benefit of, the Company. The representations,
warranties, acknowledgments and agreements made by the Company shall survive the
closing of the transaction described herein and run in favor of, and for the
benefit of, Lender.

         7.6. The obligations of the parties hereto shall not be delegated or
assigned to any other party without the prior written consent of the other
party.

         7.7. This Agreement shall be governed by the laws of the State of
Texas.

         7.8. Any notices required or permitted hereunder shall be furnished in
writing to each party at such party's address appearing on the signature page
below or as such party may otherwise direct in writing actually received by the
other party.

         7.9. The Company shall do, execute, acknowledge and deliver all such
further acts, deeds, assignments, transfers and assurances as Lender may
reasonably require to effectuate the purposes of this Agreement.

         7.11 Rule 144.

                  (a) Rule 144(d)(3)(ii), as promulgated under the Securities
Act, provides that "[i]f the securities sold were acquired from the issuer for a
consideration consisting solely of other securities of the same issuer
surrendered for conversion, the securities so acquired shall be deemed to have
been acquired at the same time as the securities surrendered for conversion."

                                       5
<PAGE>

So, for example, if Lender acquired the Note and lent funds on April 1, 2006 and
Lender converted the amounts owing on the Note into common stock on July 1,
2006, then the holding period of the common stock for purposes of Rule 144 would
be deemed to start on April 1, 2006.

                  (b) With a view to making available to Lender the benefits of
Rule 144, the Company agrees to use its best efforts to:

                           (i) Make and keep public information regarding the
Company available as those terms are understood and defined in Rule 144;

                           (ii) File with the SEC in a timely manner all reports
and other documents required of the Company under the Securities Act and the
Exchange Act at any time after it has become subject to such reporting
requirements; and

                           (iii) So long as Lender owns any Securities, promptly
furnish to the Lender upon written request a written statement by the Company as
to its compliance with the reporting requirements of Rule 144 and of the
Securities Act and the Exchange Act.

         7.12 Registration rights.

                  (a) Whenever the Company proposes to register any of its
securities under the Securities Act (other than pursuant to a registration on
Form S-8 or any successor or similar forms), whether or not for sale for its own
account, the Company will give prompt written notice (but in no event less than
thirty (30) days before the anticipated filing date) to the Lender, and such
notice shall describe the proposed registration and distribution and offer to
Lender that the Company will include in such registration the number of Shares
as the Lender may request. The Company will include in such registration all
Shares with respect to which the Company has received written requests for
inclusion therein within twenty (20) days after the Lender's receipt of the
Company's notice. All registration expenses incurred in connection with any
registration, qualification or compliance pursuant to this Section 7.12 shall be
borne by the Company. Notwithstanding the foregoing, the Lender shall have no
registration rights pursuant to this Section 7.12 after the three year
anniversary of this Agreement.

                  (b) The Company will indemnify Lender and its agents, other
representatives, legal counsel, and accountants (each, a "Company Indemnified
Party"), with respect to which registration, qualification, or compliance has
been effected pursuant to this Section 7.12, and each underwriter, if any, and
each person who controls within the meaning of Section 15 of the Securities Act
any underwriter, against all expenses, claims, losses, damages, and liabilities
(or actions, proceedings, or settlements in respect thereof) caused by (1) any
untrue statement or alleged untrue statement of a material fact contained in any
registration statement or prospectus prepared in connection with any
registration statement pursuant to this Section 7.12 (and as amended or
supplemented if the Company shall have furnished any amendments thereof or
supplements thereto), any preliminary prospectus or any state securities law
filings; (2) any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, except insofar as such expenses, claims, losses, damages, and
liabilities are caused by any untrue statement or omission contained in
information furnished in writing to the Company by Lender expressly for use
therein; and Lender by its acceptance hereof agree that it will indemnify and
hold harmless the Company, each of its officers who signs such registration
statement, and each person, if any, who controls the Company, within the meaning
of Section 15 of the Securities Act, with respect to losses, claims, damages, or
liabilities which are caused by any untrue statement or alleged untrue
statement, omission or alleged omission contained in information furnished in
writing to the Company by Lender expressly for use therein.

                                       6
<PAGE>

         7.13 This Loan is one of a series of loans that are being made to the
Company by various lenders in 2006 on similar terms which loans shall be in an
aggregate principal amount of not more than seven hundred seventy-five thousand
dollars ($775,000).

         7.14 The Company shall at all times have authorized, and reserved for
the purpose of issuance, a sufficient number of shares of Common Stock to
provide for fully conversion or exercise of the Note and issuance of the shares
of Common Stock in connection therewith. The Company shall not reduce the number
of shares of Common Stock reserved for issuance upon conversion of the Note
without the consent of the Lender. The Company shall maintain at all times the
number of shares of Common Stock so reserved for issuance at an amount equal to
not less than the number that is actually issuable upon full conversion of all
notes issued by the Company pursuant to the series of loans referred to in
Section 7.13 hereof.

         IN WITNESS WHEREOF, the undersigned have executed this Agreement to be
effective as of the date first written above.

AMERICAN CONSOLIDATED MANAGEMENT GROUP, INC.   UPSTATE CAPITAL INVESTMENTS, INC.

By /s/ George E. Mappin                        By /s/ Brian K. Holden
Its Board of Directors Duly                    ---------------------------
Authorized Director:                           Name: Brian K. Holden
George Mappin
                                               Address:
Address:                                           c/o A/R Funding, Inc.
    714 Fairview Road                              Attn: Brian Holden
    Green, SC 29651                                PO Box 16253
Phone: 864-848-1900                               Greenville, SC 29602
Fax:  864-848-1546                             Phone: 864-250-2107
                                               Fax:  864-250-2102

                                       7
<PAGE>

                                    EXHIBIT A

NEITHER THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE HAVE
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT") AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD UNLESS AND UNTIL REGISTERED
UNDER AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND/OR
APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS RECEIVED AN OPINION
OF COUNSEL OR OTHER EVIDENCE SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT
SUCH REGISTRATION IS NOT REQUIRED.

                  AMERICAN CONSOLIDATED MANAGEMENT GROUP, INC.
                           CONVERTIBLE PROMISSORY NOTE

$500,000                                                           June 28, 2006

         American Consolidated Management Group, Inc., a Utah corporation (the
"Company"), for value received, promises to pay to Upstate Capital Investments,
LLC or its permitted assigns (the "Holder") the principal sum of $500,000 plus
interest thereon from the date of this Note until paid at a rate of twelve
percent (12%) per annum computed on the basis of a 365-day year and actual days
elapsed. This Convertible Promissory Note (this "Note") is being issued and
delivered pursuant to that certain Convertible Loan Agreement, dated as of June
28, 2006 (the "Loan Agreement"), by and among the Company and the Holder.

         This Note will automatically mature and the entire outstanding
principal amount, together with accrued interest, shall become due and payable
in a single balloon payment on the one year anniversary of this Note, unless
prior to such date this Note is converted into shares of the Company's common
stock, par value $.20 (twenty cents) per share ("Common Stock"), pursuant to
Section 1 hereof.

         Payments of both principal and interest are to be made at the address
of the Holder for the receipt of notices pursuant to Section 7(e) hereof, or at
such other place as the Holder shall designate to the Company in writing, in
lawful money of the United States of America.

         The Company may not prepay any portion of the outstanding amounts owed
on this Note without the written consent of Holder.

         The following is a statement of the rights of the Holder and the
conditions to which this Note is subject, and to which the Holder, by the
acceptance of this Note, agrees:

         1. Optional Conversion of Note. At any time while this Note remains
outstanding, the entire outstanding amounts owing on this Note, including
accrued, but unpaid interest, may, at the Holder's sole option, be converted
into duly authorized, validly issued, fully paid and nonassessable shares of
Common Stock of the Company at the rate of one share of Common Stock for every
TWENTY CENTS ($.20) in amounts owing hereunder that are converted by Holder
("Conversion").

         2. Mechanics of Conversion.

                  (a) Notice of Conversion. The Holder shall give written notice
to the Company of its election to convert this Note and shall state therein the
name or names in which the certificate or certificates for shares of Common
Stock are to be issued. The effective date of the Conversion shall be the date
such notice is received by the Company pursuant to Section 7(e) hereof.

<PAGE>

                  (b) No Fractional Shares Upon Conversion. No fractional shares
of Common Stock shall be issued upon Conversion of this Note. In lieu of any
fractional shares to which the Holder would otherwise be entitled, the Company
shall pay cash equal to such fraction multiplied by the $.20 conversion price.

                  (c) Stock Certificates. At such time after the Conversion as
Holder presents this Note to the Company, the Company shall issue and deliver to
the Holder at the address listed below for receipt of notices, or to its nominee
or nominees, a certificate or certificates for the number of shares of Common
Stock to which it shall be entitled as aforesaid.

         3. Charges, Taxes and Expenses. Issuance of a certificate or
certificates for shares of Common Stock upon the Conversion of this Note shall
be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of such certificate, all of which
taxes and expenses shall be paid by the Company.

         4. No Rights as Stockholder. This Note does not entitle the Holder
hereof to any voting rights or other rights as a stockholder of the Company
prior to the Conversion.

         5. Loss, Theft or Destruction of Note. Upon receipt by the Company of
evidence reasonably satisfactory to it of the loss, theft or destruction of this
Note and of indemnity or security reasonably satisfactory to it, the Company
will make and deliver a new Note which shall carry the same rights to interest
carried by this Note, stating that such Note is issued in replacement of this
Note, and this Note is cancelled, making reference to original date of issuance
of this Note (and any successors hereto) and dated as of such cancellation, in
lieu of this Note.

         6. Events of Default.

                  (a) Each of the following occurrences shall constitute an
event of default under this Note (herein called "Event of Default"):

                           (i) the Company shall fail to pay any or all of the
obligations arising under this Note when due or shall fail to observe or perform
any covenant or agreement herein binding on it or shall be in default under any
security, loan, credit or similar agreement between it and the Holder;

                           (ii) any representation or warranty by the Company
set forth in this Note or in the Loan Agreement, or made to the Holder in any
financial statement or report submitted to the Holder by or on behalf of the
Company shall prove materially false or materially misleading;

                           (iii) the Company shall (A) voluntarily file, or have
filed against it involuntarily, a petition under the United States Bankruptcy
Code; or (B) be dissolved or liquidated or terminated; or (C) go out of
business;

                           (iv) Holder in good faith believes that the prospect
of due and punctual payment of any or all of the obligations evidenced hereby or
by the Loan Agreement is impaired; or

                  (b) Upon the occurrence of an Event of Default and at any time
thereafter during the continuation of such Event of Default, Holder may exercise
any one or more of the following rights and remedies:

                                       2
<PAGE>

                           (i) declare all amounts due under this Note to be
immediately due and payable, and the same shall thereupon be immediately due and
payable, without presentment or other notice or demand; and

                           (ii) exercise or enforce any or all other rights or
remedies available to Holder by law or agreement against the Company or against
any other person or property.

         7. Miscellaneous.

                  (a) Reservation of Stock. The Company covenants that the
Company will at all times reserve from its authorized and unissued Common Stock
a sufficient number of shares to provide for the issuance of the Common Stock
upon the Conversion of this Note and, from time to time, will take all steps
necessary to amend its charter to provide sufficient reserves of shares of
Common Stock issuable upon conversion of this Note. The Company further
covenants that all shares that may be issued upon the exercise of rights
represented by this Note, upon exercise as set forth herein, will be free from
all taxes, liens, claims and encumbrances in respect of the issuance thereof.

                  (b) Issue Date. The provisions of this Note shall be construed
and shall be given effect in all respect as if it had been issued and delivered
by the Company on the earlier of the date hereof or the date of issuance of any
Note for which this Note is issued in replacement. This Note shall be binding
upon any successors or assigns of the Company.

                  (c) Restrictions. The Holder acknowledges that the shares of
Common Stock acquired upon the conversion of this Note will be subject to
restrictions upon its resale imposed by state and federal securities laws.

                  (d) Assignment. Neither this Note nor any of the shares of
Common Stock issuable upon conversion of this Note may be sold, assigned,
transferred, pledged or hypothecated or otherwise disposed of unless and until
registered pursuant to an effective registration statement under the Securities
Act and/or applicable state securities laws or unless the Company has received
an opinion of counsel or other evidence satisfactory to the Company and its
counsel that such registration is not required.

                  (e) Notices. All notices or other communications required or
permitted hereunder shall be in writing and shall be effective (i) five (5) days
after deposit with the U.S. Postal Service or other applicable postal service,
if delivered by first class mail, postage prepaid, (ii) upon delivery, if
delivered by hand, (iii) one business day after the business day of deposit with
Federal Express or similar overnight courier, freight prepaid, guaranteeing
overnight delivery, or (iv) upon telephone or further electronic communication
from the recipient acknowledging receipt (whether automatic or manual from
recipient), if delivered by facsimile or electronic transmission, and shall be
addressed (A) to the Holder at the address provided in the Loan Agreement, and
(B) to the Company at the address of its principal corporate offices, Attention:
Chief Executive Officer, or at such other address as may be designated in
writing to the party.

                  (f) Enforcement. No act or omission of the Holder, including,
but not limited to, any failure to exercise, or delay in exercising, any right,
remedy or recourse with respect to a particular event, shall be deemed a waiver
or release of such right, remedy or recourse. The Company shall pay all
reasonable fees and expenses, including reasonable attorney's fees, incurred by
the Holder in the enforcement in any of the Company's obligations hereunder not
performed when due.

                  (g) Governing Law. This Note shall be governed by and
construed in accordance with the laws of the State of Texas, without regard to
its principles of conflicts of law.

                                       3
<PAGE>

         IN WITNESS WHEREOF, American Consolidated Management Group, Inc. has
caused this Convertible Promissory Note to be executed by its officer thereunto
duly authorized.

                                AMERICAN CONSOLIDATED MANAGEMENT GROUP, INC.

                                By: George E. Mappin
                                ------------------------------------------------
                                Its Board of Directors Duly Authorized Director:
                                George Mappin

                                       4

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