Document:

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EXHIBIT 10.11.1

                              MOBILESTREAM OIL, INC.
                          LIQUIDATING TRUST AGREEMENT
                          ---------------------------

THIS LIQUIDATING TRUST, made this 29th day of December, 2006, by and between:

      MOBILESTREAM OIL, INC. a Delaware corporation having its principal office
located at Bloomfield Business Park, 408 Bloomfield Drive, Units 1 & 2, West
Berlin, New Jersey 08091, hereinafter referred to as MOBILESTREAM;

                                      AND
                                      ---

      OLDE MONMOUTH STOCK TRANSFER CO., INC., a New Jersey corporation and a
licensed stock transfer agent with principal offices located at 200 Memorial
Parkway, Atlantic Highlands, New Jersey 07716 (hereinafter referred to as
"Trustee");

WITNESSETH THAT:

      WHEREAS, the Board of Directors of MOBILESTREAM approved a Plan and
Agreement of Reorganization with Global Resource Corporation, whereby Global
Resource Corporation will acquire, pursuant to Section 368(a)(1)(d) of the
internal Revenue Code, substantially all of the assets of MOBILESTREAM,
following which, as required by the Internal Revenue Code, MOBILESTREAM shall
liquidate and dissolve;

      WHEREAS, Global Resource Corporation will issue shares of both its 2006
Series of Convertible Preferred n Stock (in the process of designation) and its
Common Stock and Common Stock Purchase Warrants to MOBILESTREAM for the
acquisition of the assets and such shares are being issued in a private offering
and the shares have not been, and prior to Closing will not be, registered
pursuant to the Securities Act of 1933 and accordingly cannot be distributed to
the shareholders of MOBILESTREAM in the absence of such registration.

      WHEREAS, the Plan contemplated the establishment of a Liquidating Trust
for the purpose of receiving and holding such shares pending their registration
with the Securities and Exchange Commission, thereby meeting the requirements of
the Internal Revenue Code for liquidation and dissolution; and

      WHEREAS, the parties desire to enter into a written agreement, setting
forth the terms and conditions for management of the trust estate for the
purposes of accomplishing a liquidation, as set forth below;

      NOW THEREFORE, intending to be legally bound, and in consideration of the
premises, and other good and valuable consideration, the receipt and
sufficiencies of which are hereby acknowledged, the parties hereby agree as
follows:

                       ARTICLE ONE. NAME AND DEFINITIONS
                       ---------------------------------

      1.01 NAME. The name of the liquidating trust created hereby shall be
"Mobilestream Oil, Inc. Liquidating Trust". As far as practicable and except as
otherwise provided herein, the Trustee shall conduct the activities of the
Trust, execute all documents and sue or be sued in the name of the Trust or in
its own name as Trustee of the Trust.

      1.02 DEFINITIONS. As used in this Agreement, unless the context otherwise
requires, the following terms shall have the respective meanings indicated:

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            1. "Person" shall mean an individual, a corporation, a partnership,
an association, a joint stock company, a trust, a joint venture, any
unincorporated organization, or a government or political subdivision thereof.

            2. "Stockholder" shall mean the holders of record of the shares of
the Common Stock of MOBILESTREAM on the date of Closing.

            3. "Trust" shall mean the trust created by this Trust Agreement.

            4. "Trust Agreement" shall mean this Agreement, as originally
executed, or as amended from time to time in the manner provided in Article
Eight.

            5. "Trustee" shall mean the trustee who is originally named as the
Trustee (i.e., Olde Monmouth Stock Transfer Co., Inc.) and any successor
trustee.

      6. "Trust Estate" shall mean the aggregate of the shares of 2006 Series of
Convertible Preferred Stock, Common Stock and Common Stock Purchase Warrants of
Global Resource Corporation and all other assets, properties, claims and rights
transferred, assigned, and conveyed unto the Trustee in accordance with Section
3.01, together with all property rights and agreements, and other rights,
benefits, or privileges, appertaining to appurtenant thereto and all rents,
royalties, income, proceeds, borrowings, and other receipts of any nature of, or
from, such assets, properties, claims and rights.

            7. "Holders" shall mean the holders of record of beneficial
interests in the Trust.

            8. "Units" shall mean the units of beneficial interest in the Trust
as set forth in Article Six.

                        ARTICLE TWO. NATURE OF THE TRUST
                        --------------------------------

      2.01 NATURE OF THE TRUST. The Trust exists solely for the purpose of
liquidating the Trust Estate and distributing the proceeds of liquidation to the
Holders. In connection with such purposes, it is intended that the Trust may
serve as a temporary vehicle for the maintenance and operation of the Trust
Estate, with a view to its liquidation and not the conduct of a continuing
business. The Trust is not intended to be, shall not be deemed to be, and shall
not be treated as, a general partnership, limited partnership, joint venture,
corporation, joint stock company or association, nor shall the Trustee, or
Holders, or any of them. for any purpose be, or be deemed to be, or be treated
in any way whatsoever to be, liable or responsible hereunder as partners or
joint venturers. The relationship of the Holders to the Trustee shall be solely
that of beneficiaries of the Trust, and their rights shall be limited to those
conferred upon them by this Trust Agreement. In no event shall any part of the
Trust Estate revert or be distributed to MOBILESTREAM or to any stockholder of
MOBILESTREAM, as such, other than Holders entitled thereto under the terms of
this Trust Agreement. Unclaimed portions of the Trust Estate shall be subject to
disposition in accordance with applicable law of the State or New Jersey. The
Trustee shall take only such action as it may deem necessary or advisable to
preserve the Trust Estate pending distribution, sale or other disposition, and
in no event shall the Trustee otherwise have power or authority to enter into
any business with respect to the Trust Estate. However, nothing herein shall be
deemed to abridge the powers of the Trustee as set forth in Article Four hereof,
all of which powers (without limitations) are considered necessary to the
ability of the Trustee to carry out the purpose of the Trust.

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                      ARTICLE THREE. TRANSFER TO TRUSTEES
                      -----------------------------------

      3.01 CONVEYANCE. On the date hereof, MOBILESTREAM has conveyed and
transferred to the Trustee, and the Trustee has accepted, to be held for the
benefit of the Holders, all of the beneficial right and interest of MOBILESTREAM
in the shares of the 2006 Series of Convertible Preferred Stock, Common Stock
and Common Stock Purchase Warrants of Global Resource Corporation and all of the
other assets, properties, claims and rights of MOBILESTREAM. The foregoing
conveyance is subject, however, to all of the liabilities, debts, and
obligations, whether absolute or contingent, known or unknown, incurred by, or
with respect to the assets or operations of, MOBILESTREAM. The Trustee will hold
the aforesaid assets and properties, together with all rights, benefits,
covenants and agreements appertaining or pertinent thereto upon and subject to
the terms and provisions of the Trust Agreement.

      3.02 UNKNOWN PROPERTY AND LIABILITIES. The Trustee shall be responsible
for only the property delivered to it or registered in its name and shall have
no duty to make, nor incur any liability for failing to make, any search for
unknown property. The Trustee shall be responsible for only those liabilities of
which it is informed, and shall have no duty to make, nor incur any liability
for failing to make, any search for unknown liabilities. Trustee has been
informed that there are no liabilities.

      3.03 FURTHER ASSURANCES. MOBILESTREAM shall, upon reasonable request of
the Trustee, execute, acknowledge and deliver such further instruments, deeds,
documents, assignments and assurances of law, and do such further acts as may be
reasonably necessary, proper, or desirable, to effectively carry out the
purposes of this Trust Agreement, to transfer any property intended to be
conveyed hereunder, and to vest in the Trustee or its successor or successors,
the property, instruments, or funds in trust hereunder. If the Trustee shall at
any time deem that any further instruments, deeds documents, assignments or
assurances of law or any of other acts are necessary, proper or desirable to
vest, perfect or confirm of record or otherwise the title to any property or to
enforce any claims of MOBILESTREAM, to transfer any property intended to be
conveyed hereunder and to effectively carry out the purposes of this Trust
Agreement, the Trustee at that time is hereby specifically authorized as
attorney-in-fact for MOBILESTREAM (this appointment being irrevocable and one
coupled with an interest) to execute and deliver any and all such proper deeds,
assignments and assurances of law and to do all other acts and on behalf of
MOBILESTREAM or otherwise, as such Trustee shall deem necessary, proper, or
appropriate.

      3.04 TRANSFEREE LIABILITY. In the event that any liability is asserted
against the Trustee as recipient of the property transferred to the Trustee
hereunder, on account of any claimed liability of or through MOBILESTREAM, the
Trustee may use such part of the Trust Estate as may be reasonable for
contesting any such liability and in payment thereof, including reasonable
attorney's fees incurred in connection therewith.

      3.5 LIMITATION OF LIABILITY. No personal liability will attach to the
Trustee or the Holders with respect to any obligations to MOBILESTREAM arising
under this Trust Agreement or from the performance of the activities
contemplated hereby, including, without limitation, acceptance of the
transferred assets and assumption of the liabilities existing with respect to
such assets. Such obligations shall be satisfied only out of the Trust Estate.

                                       3
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                      ARTICLE FOUR. POWERS OF THE TRUSTEES
                      ------------------------------------

      4.01 POWER AND AUTHORITY OF TRUSTEES. The Trustee, subject only to the
specific limitations contained in this Trust Agreement, shall have, without
further or other authorization and free from any power or control on the part of
the Holders, full absolute and exclusive power, control and authority over the
Trust Estate and over the affairs of the Trust to the extent as if the Trustee
was the sole owner thereof in its own right, and to do all such acts and things
as in its sole judgment and discretion are necessary or do all such acts and
things as in its sole judgment and discretion are necessary or incidental to,
or desirable for, the carrying out of any of the purposes of the Trust. Any
determination made in good faith by the Trustee of the purposes of the Trust or
the existence of any power or authority thereunder shall be conclusive. In
construing the provisions of this Trust Agreement, presumption shall be in favor
of the grant of powers and authority to the Trustee. The enumeration of any
specific power or authority herein shall not be construed as limiting the
general powers or authority or any other specified

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power conferred herein upon the Trustee. The Trustee shall not at any time on
behalf of the Trust, the Trust Estate, or the Holders enter into or engage in
any business.

      4.02 SPECIFIC POWERS AND AUTHORITIES. Subject only to the express
limitations contained in this Trust Agreement and in addition to any powers and
authorities conferred by this Trust Agreement or which the Trustee may have by
virtue of any present or future statute or rule of law, the Trustee without any
action or consent by the Holders may exercise at any time and from time to time
the following powers and authorities which may or may not be exercised by it in
its sole judgment and discretion and in such manner and upon such terms and
conditions as it may from time to time deem proper for the sole purpose of
liquidating the Trust Estate and distribution of the proceeds of liquidation to
the Holders, and not for the operation of a business:

            (1) To collect, liquidate or otherwise convert into cash, or such
other property as they deem appropriate, all property, assets and rights in the
Trust Estate, and to pay, discharge and satisfy all liabilities, expenses,
obligations and claims existing with respect to the Trust Estate, the Trust or
the Trustee.

            (2) To do or perform any acts or things reasonable or appropriate
for the continued operation and the conservation, protection and orderly
administration of the Trust Estate.

            (3) To provide for the registration of the Units under the Federal
Securities laws and such registration or qualification under State Securities or
Blue Sky laws as it deems advisable, if required by law.

            (4) To create reserve funds for any purpose, including, without
limitation, reserves to protect against contingent or unknown liabilities which
might exist with respect to the Trust Estate, the Trust, the Trustee or the
prior operations or activities of MOBILESTREAM.

            (5) To incur and pay out of the Trust Estate any charges or
expenses, and disburse any funds of the Trust, which charges, expenses or
disbursements are, in the opinion of the Trustee, necessary or incidental to or
desirable for the carrying out of any of the purposes of the Trust, including,
without limitation, taxes and other governmental levies, charges and assessments
of whatever kind or nature, imposed upon or against the Trustee in connection
with the Trust or the Trust Estate or upon or against the Trust Estate or any
part thereof.

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            (6) To invest and re-invest funds of the Trust in demand and time
deposits in banks or savings institutions, short-term certificates of deposit,
or U.S. Treasury Bills subject to the requirements that the maturity date of
such investments shall be such as to permit the Trustee to pay all debts as they
become due and payable and to pay the Holders at least annually all sums in
excess of reserves for claims and contingent liabilities.

            (7) To appoint, engage and employ any persons as agents,
representatives, employees or independent contractors to act as investment
advisors, attorneys, or accountants for or to the Trust and the Trust Estate and
to pay compensation from the Trust Estate for such services.

            (8) To collect, sue for, and receive all sums of money coming due to
the Trust, and to engage in, intervene in, prosecute, join, defend, compound,
compromise, abandon or adjust by arbitration or otherwise any actions, suits,
proceedings, disputes, claims, controversies, demands or other litigation
relating to the Trust, the Trust Estate or the Trust's affairs, to enter into
agreements therefore, whether or not any suit is commenced or claim accrued or
asserted and, in advance of any controversy, to enter into agreements regarding
arbitration, adjudication or settlement thereof.

            (9) To purchase and pay for, out of the Trust Estate, insurance
contracts and policies insuring the Trust Estate against any and all risks and
insuring the Trust, the Trustee, the Holders or the agents and employees of the
Trust, or any or all of them, against any and all claims and liabilities of
every nature asserted by any person arising by reason of any action alleged to
have been taken or omitted by the Trust or by the Trustee. Holders or agents or
employees.

            (10) To file any and all documents and take any and all such other
action as the Trustee, in its sole judgment, may deem necessary in order that
the Trust may lawfully carry out its purposes in any jurisdiction.

            (11) To prepare and file, or assist in the preparation and filing
of, Federal and State tax returns and reports required to be filed on behalf of
the Trust, the Trustee or the Holders.

      (12) To do or take any action necessary, and to execute and deliver any
documents necessary, to enforce the rights resulting from the Agreement for the
sale of the MOBILESTREAM assets to Global Resource Corporation, including
without limitation, any actions pertaining to collection of the monies, the
collection of any insurance funds, foreclosure of any lien or mortgage, and
reacquisition, to own, operate and manage the property until it can be sold.

            (13) To do all other such acts and things as are incidental to the
foregoing, and to exercise all powers which are necessary or useful to promote
and attain any of the purposes for which the Trust is formed, and to carry out
the provisions of this Trust Agreement.

                                       5
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            The enumeration of powers in this Article Four shall not be
considered as a limitation upon the power of the Trustee to act in furtherance
of the purposes of the Trust and in such manner as it, in its sole discretion,
deems necessary or advisable to conserve, protect and administer the Trust
Estate.

                             ARTICLE FIVE. TRUSTEES
                             ----------------------

      5.01 TERM OF TRUSTEE. Unless sooner terminated by distribution of all
assets comprising the Trust Estate, the term of the Trustee signing this
agreement shall end on December 31, 2008. Except during periods of the existence
of a vacancy, there shall at all times be at least one (1) Trustee.

      5.02 COMPENSATION AND OTHER REMUNERATION. Except as specifically agreed in
a Schedule attached to this Liquidating Trust and made a part hereof, a Trustee
shall serve without compensation for its services as Trustee. However, any
Trustee shall be entitled to receive, directly or indirectly, remuneration for
services rendered to the Trust in any other capacity, including, without
limitation, services as an agent or employee of the Trust, legal, accounting, or
other professional services, or services as a transfer agent, underwriter, or
otherwise. The Trustee shall be reimbursed for its reasonable expenses incurred
in connection with its service as Trustee.

      5.03 RESIGNATION, REMOVAL AND DEATH OF TRUSTEES. A trustee may resign at
any time by giving written notice to either the remaining Trustee at the
principal office of the Trust or, if there is no other Trustee in office, Fox
Law Offices, P.A., 2 Village Hill Lane, #3, Natick, Massachusetts 01760. Such
resignation shall take effect on the date such notice is given or at any later
time specified in the notice without need for prior accounting. Upon the
resignation or removal of any Trustee, or its otherwise ceasing to be a Trustee,
it shall execute and deliver such documents as the remaining Trustee or Trustees
as it/they require foe all property which it holds as Trustee and shall
thereupon be discharged as Trustee. Upon the incapacity or death of any human
Trustee, his legal representative shall perform the acts set forth in the
preceding sentence and the discharge mentioned therein shall run to such legal
representative and to incapacitated Trustee or the estate of the deceased
Trustee as the case may be. Notwithstanding failure of any human Trustee or his
legal representative to execute and deliver documents and to render an
accounting as aforesaid, said Trustee shall cease to hold legal title to the
Trust Estate as of the time of his resignation, removal, incapacity, death or
his otherwise ceasing to be Trustee.

      5.04 VACANCIES. If any or all of the Trustees cease to be Trustees
hereunder, whether by reason of resignation, removal, incapacity, death or
otherwise, such event shall not terminate the Trust or affect its continuity.
Until vacancies are filled, the remaining Trustee or Trustees may exercise the
power of the Trustee hereunder. Vacancies shall be filled by the remaining
Trustee(s) within ninety (90) days of the creation of the vacancy. If at any
time there shall be no Trustee in office, successor Trustee shall be elected by
the Holders at a meeting held in accordance with the provisions of Section 9.01.
Pending the holding of such a meeting, Richard C. Fox, Esq. shall be deemed to
be appointed to act as the Interim Trustee hereunder, with the full powers of
the Trustee as herein provided.

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      5.05 SUCCESSOR AND ADDITIONAL TRUSTEES. The right, title and interest of
the Trustee in and to the Trust Estate shall also vest in a successor and
additional Trustee upon its qualification, and it shall thereupon have all the
right and obligations of Trustee hereunder. Such right, title and interest shall
vest in the Trustee whether or not conveying documents have been executed and
delivered pursuant to Section 5.03 or otherwise.

      5.06 ACTIONS BY TRUSTEES. A quorum for all meetings of the Trustees shall
be a majority of the Trustees then in office. Unless specifically provided
otherwise in this Trust Agreement, any action of the Trustees may be taken at a
meeting if a quorum is present by vote of a majority of Trustee at the meeting.
Any agreement, deed, mortgage, lease or other instrument or writing executed by
any one or more of the Trustees and upon the Trust when authorized by action of
the Trustees. The Trustees may adopt such additional rules and procedures as
they deem appropriate to govern their conduct and to further the orderly
administration of the Trust.

                       ARTICLE SIX. THE UNITS AND HOLDERS
                       ----------------------------------

      6.01 UNITS. The interests of the beneficiaries in the Trust Estate shall
be expressed in Units. The Units shall be all of one class. The Units shall be
non-transferrable, and title thereto shall only be transferrable, and title
thereto shall only be transferrable by the laws of descent and distribution. All
Units shall have equal voting, distribution, liquidation and other rights. The
Units shall not entitle any Unit Holder to preference, preemptive, appraisal,
issued.

      6.02 LEGAL OWNERSHIP OF TRUST ESTATE. The legal ownership of the Trust
Estate and the right to conduct the business of the Trust are vested exclusively
in the Trustee, and the Unit Holders shall have no interest therein other than
the beneficial interest in the Trust conferred by their Units created hereunder,
and subject to the provisions of Section 9.02, they shall have no right to
compel any partition, division, or distribution of the Trust or any of the Trust
Estate.

      6.03 UNITS DEEMED PERSONAL PROPERTY. The Units shall be personal property
and shall confer upon the Holders thereof only the interest and rights
specifically set forth in this Trust Agreement. The death, insolvency or
incapacity of a Holder shall not dissolve or terminate the Trust or affect its
continuity or give his legal representative any rights whatsoever, whether
against or in respect of other Holders, the Trustee or the Trust Estate or
otherwise.

      6.04 UNIT RECORDS: ISSUANCE AND TRANSFERRABILITY OF UNITS. Records shall
be kept by or on behalf of and under the direction of the Trustee which shall
contain the names and addresses of the Holders, the number of Units held by them
respectively, and in which there shall be recorded all transfers of Units. The
Persons in whose names Units are registered on the records of the Trust shall be
deemed the absolute owners of the Units for all purposes of this Trust; but
nothing herein shall be deemed to preclude the Trustee or their agents or
representatives from inquiring as to the actual ownership of Units. Permitted
transfers of Units shall be registered on the records of the Trust only as of
the end of the last day of the month in which it receives notice of the
transfer. Until a transfer is duly registered as to the Trust, the Trustee shall
not be affected by any notice of such transfer either actual or constructive.
The payment thereof to the Person in whose name any Units are registered on the
records of the Trust or to the duly authorized agent of such Person (or if such
Units are registered in the name of more than one person, to any one of such
Persons or to the duly authorized agent of such Person) shall be a sufficient
discharge for all distributions payable or deliverable in support of such Units
and from all liability to see to the application thereof. The Trustee may
prescribe further rules and regulations, not inconsistent herewith, as it may
deem necessary or advisable concerning the transfer of Units.

                                       7
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      6.05 AGENTS. The Trustee shall have power to employ one or more disbursing
agents and other agents and to authorize them on behalf of the Trust to keep
records, to hold and make distributions, and to have and perform in respect to
creation and any permitted transfers of Units and all distributions and reports
and communications to Holders, such powers and duties customarily had and
performed by disbursing agents, transfer agents and registrars as may be
conferred upon them by the Trustee.

      6.06 DISTRIBUTIONS TO UNIT HOLDERS. The Trustee shall have discretion to
determine the number of shares of Global Resource Corporation, or the amount of
cash, or other property, if any, to be distributed to the Holders of the Units
and the time at which any such distribution shall be made. However, this
discretionary authority has been provided solely in order to permit the Trustee
to delay distribution of those funds which are in excess of the immediate
payment requirements of existing claims so as to create a reserve for contingent
liabilities as otherwise provided above. It is not intended that the Trustee
shall exercise their discretion to withhold distributions after payment of the
claims and liabilities. Rather, it is intended that the Trustee shall distribute
all funds or other property thereafter as quickly as possible after making
provisions for current expenses of the Trust. It is specifically agreed and
understood that distribution to the Holders shall not be made until all claims
are resolved by (i) release, (ii) nonappealable final judgment of a court of
competent jurisdiction or (iii) expiration of any applicable time for filing
claims as prescribed by controlling statutes of limitations for any potential
claims. Trustee shall have a lien on all trust property to the extent of and
until any fees and expenses incurred by Trustee, including but not limited to
attorneys fees and court costs are reimbursed or paid for with Trust funds.
Trustee are authorized by the Holders to sell Trust Property to obtain funds
necessary for such reimbursement or payment of trust expenses.

                    ARTICLE SEVEN. LIABILITY OF TRUSTEE AND
                    ---------------------------------------
                         UNIT HOLDERS AND OTHER MATTERS
                         ------------------------------

      7.01 EXCULPATION OF TRUSTEES. No Trustee of the Trust shall be liable to
the Trust or to any Trustee for any act or omission of any other Trustee,
Holder, or agent of the Trust, or be held to any personal liability whatsoever
in tort, contract or otherwise in connection with the affairs of the Trust
except only that arising from his/her/its own willful misfeasance, gross
negligence or reckless disregard of duty. In addition to, and not in limitation
of, the foregoing, no successor Trustee shall be in any way liable for the acts
or omissions of any Trustee or agent of the Trust occurring prior to the date on
which he/she/it became a Trustee.

      7.02 LIMITATION OF LIABILITY OF UNIT HOLDERS, TRUSTEES AND OFFICERS. The
Trustee, in incurring any debts, liabilities or obligations, or in taking or
omitting any other actions for or in connection with the Trust is, and shall be
deemed to be, acting as Trustee of the Trust and not in its own individual
capacity. Except to the extent provided in Section 7.01, no Trustee shall, nor
shall any Holder, be liable for any debt, claim, demand, judgment, decree,
liability or obligation of any kind of, against or with respect to the Trust,
arising out of any action taken or omitted for or on behalf of the Trust, and
the Trust shall be solely liable therefore, and resort shall be had solely to
the Trust Estate for the payment or performance thereof. Each Holder shall be
entitled to pro-rata indemnity from the Trust Estate if, contrary to the
provisions hereof, such Holder shall be held to have any such personal
liability.

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      7.03 EXPRESS EXCULPATORY CLAUSE IN INSTRUMENTS. As far as practicable, the
Trustee shall cause any written instrument creating an obligation of the Trust
to include a reference to this Trust Agreement to provide that neither the
Holders nor the Trustee thereunder and that the other parties to such instrument
shall look solely to the Trust Estate for the payment of any claim thereunder or
the performance thereof; provided, however, that the omission of such provision
from any such instrument shall not render the Unit Holders or any Trustee liable
nor shall the Trustee be liable to anyone for such omission.

      7.04 RIGHT OF TRUSTEES TO OWN UNITS OR OTHER PROPERTY AND TO ENGAGE IN
OTHER BUSINESS. Any Trustee, employee or agent of the Trust may acquire, own,
hold and dispose of Units for his/her/its individual account, and may exercise
all rights of a Holder to the same extent and in the same manner as if he were
not a Trustee, employee or agent. Any Trustee or agent of the Trust may, in his
personal capacity or as an officer or employee of another Person, engage in
business activities which may be in competition with the Trust, may have
interests in Persons engaged to render services to the Trust, and may receive
compensation from such Persons as well as from the Trust.

      7.05 PERSONS DEALING WITH TRUSTEES. Any act of the Trustee purporting to
be done in its capacity as such shall, as to any Persons dealing with such
Trustee, be conclusively deemed to be within the purpose of this Trust and
within the powers of the Trustee. No person dealing with the Trustee or any of
them, or with the authorized agents or representatives of the Trust, shall be
bound to see to the application of any funds or property passing into their
hands or control. The receipt of the Trustee or any of them, or of authorized
agents or representative of the Trust, for monies or other consideration, shall
be binding upon the Trust.

      7.06 RELIANCE. The Trustee may consult with counsel (which may be a firm
in which one or more of the Trustees is or are members), auditors or other
experts, and the advice and opinion of such counsel, auditors or other experts
shall be full and complete personal protection to all of the Trustees in respect
of any action taken or suffered by them in good faith and in reliance on or in
accordance with such advice and opinion. In discharging their duties, Trustee
may rely upon financial statements of the Trust presented to it to be correct by
the person having charge of its books of account, or stated in a written report
by an independent certified public accountant fairly to present the financial
position of the Trust. The Trustee may rely, and shall be personally protected
in acting, upon any instrument or other document of any sort whatsoever believed
by it to be genuine.

      7.07 INDEMNIFICATION OF TRUSTEES.

            (1) Each Trustee shall be indemnified from the Trust Estate against
any loss, liability, expense (including attorney's fees and costs), or damage
which such Trustee may incur or sustain by reason of the fact that he/she/it is
or was a Trustee of the Trust or performing any functions incidental to such
services; provided, however, that the foregoing shall not relieve such person of
liability for willful misfeasance, gross negligence or reckless disregard of the
duties involved in the conduct of his/her/its office.

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            (2) Indemnification under Paragraph 1 above shall be made by the
Trust as authorized in the specific case unless a determination has been made
that indemnification of the Trustee is improper in the circumstances because
he/she/it has not met the applicable standards of conduct. Such determination
shall be made (i) if the Trustee by a majority vote of a quorum consisting of
Trustees who were not parties to the relevant action, suite, proceeding or claim
or (ii) if such a quorum is not obtainable, or, if obtainable and a quorum of
disinterested Trustee so directs, by independent legal counsel (who may be
counsel to the Trust) in a written opinion.

            (3) Expenses incurred in connection with a civil, criminal,
administrative, or investigative action, suit, or proceeding, or threat thereof,
shall be paid by the Trust in advance of the final disposition of such action,
suit, or proceeding as authorized in the manner provided in subsection (2) of
this Section 7.07, upon receipt of an undertaking by or on behalf of the Person
to repay such amount if it shall ultimately be determined that he/she/it is not
entitled to be indemnified by the Trust as authorized in this Section.

            (4) The indemnification provided by this Section 7.07 shall not be
deemed exclusive of any other rights to which those indemnified may be entitled
under any other agreement, vote of disinterested Trustee, or otherwise, both as
to action in his official capacity and as to action in another capacity while
holding such office, and shall continue as to a Person who has ceased to be a
Trustee and shall inure to the benefit of the heirs, executors, and
administrators of such Person.

            (5) No bond shall be required of any of the Trustee.

                      ARTICLE EIGHT. DURATION OF TRUST AND
                          AMENDMENT OF TRUST AGREEMENT
                          ----------------------------

      8.01 DURATION OF TRUST. The Trust will terminate six (6) years following
the transfer of MOBILESTREAM's assets to the Trust; provide, however, that the
term of the Trust may be extended for two (2) additional periods of one (1) year
each if, in the discretion of the Trustee, such additional period or periods are
necessary to complete the orderly liquidation of the Trust properties and if, as
of the close of the initial period and, if necessary, as of the close of the
additional period of extension, the Trustee represents to the Internal Revenue
Service that they have made, and are making, good faith attempts to dispose of
the Trust properties. The foregoing shall not be deemed to restrict in any way
the right of the Trustee to cause actual distribution of any liquidation
proceeds to be withheld for periods of time after termination of the Trust as
protection against contingent or unknown liabilities of the Trust or Trustee,
including contingent or unknown liabilities of the Trustee with respect to the
performance of their duties hereunder.

      8.02 AMENDMENT OF TRUST AGREEMENT. This Trust Agreement may be amended by
action concurred in by a majority of the Trustees then in office and without a
vote of Holders for the purpose of having the Trust qualify or continue to
qualify as a "liquidating trust" or "grantor trust" under the applicable
provisions of the Internal Revenue Code of 1954, as amended from time to time.
Also, this Trust Agreement may be amended at the direction or with the consent
of the Holders of not less than 66.7% in interest, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of
this Trust Agreement or prior amendments thereto, provided, however, that no
amendment shall permit the Trustee to engage in any activity prohibited by
Article Four.

                                       10
<PAGE>

      8.03 REVOCATION. The Holders, by a writing signed by Persons holding a
66.7% in interest of the undivided percentage interests of the Trust, and
without consent of the Trustee, may revoke this Trust Agreement by written
instrument delivered to the Trustee.

                             ARTICLE NINE. REPORTS
                             ---------------------

      9.01 FISCAL YEAR. The fiscal year of the Trust shall be the calendar year.

      9.02 PREPARATION AND DISTRIBUTION OF FINANCIAL REPORTS. The Trustee shall
prepare, or cause to be prepared an annual financial report within one hundred
twenty (120) days after the close of each fiscal year, which report shall be
distributed to Holders within thirty (30) days after it become available.

      9.03 CONTENT OF FINANCIAL REPORTS. The annual report shall reflect the
receipts and the disbursements, including an analysis of the disbursements,
together with such other information as may be material under the circumstances.
Such reports shall be compiled by a certified public accountant, but need not be
reviewed or audited unless so directed to be so prepared by the Trustee.

                           ARTICLE TEN. MISCELLANEOUS
                           --------------------------

      10.01 MEETING OF HOLDERS. In the event that there shall be no Trustee in
office and a meeting of Holders is required to elect successor Trustee as
provided in Section 5.04, the Person designated to act as interim Trustee
pending the holding of such a meeting shall provide all Holders written notice
(either in person or by first class mail) of a meeting and the purpose of such
meeting to be held on a day not less than fifteen (15) nor more than sixty (60)
days after the date of such notice at 10 o'clock a.m. at a place within Broward
County, Florida, which place may be an office of the interim Trustee.

      10.02 APPLICABLE LAW. This Trust Agreement and the rights of all parties
and the construction and effort of every provision hereof shall be subject to
and construed according to the statutes and laws of the State of New Jersey.

      10.03 INDEX AND HEADINGS FOR REFERENCE ONLY. The index and headings
preceding the text, articles and sections hereof have been inserted for
convenience and preference only and shall not be construed to affect the
meaning, construction or effect of this Trust Agreement.

      10.04 SUCCESSORS IN INTEREST. This Trust Agreement shall be binding upon
and inure to the benefits of the undersigned Trustee and its successors,
assigns, heirs, distributes, and legal representatives, and every Unit Holder
and his successors, assigns, heirs, distributes and legal representatives.

      10.05 COUNTERPARTS. This Trust Agreement may be simultaneously executed in
several counterparts, each of which when so executed shall be deemed to be an
original and such counterparts together shall constitute one and the same
instrument, which shall be sufficiently evidenced by any such original
counterpart.

                                       11
<PAGE>

      10.06 PROVISION OF THE TRUST AGREEMENT IN CONFLICT WITH LAW OR
REGULATIONS. If any provision of this Trust Agreement shall be held invalid or
unenforceable, such invalidity or unenforceability shall attach only to such
provision and shall not in any manner affect or render invalid or unenforceable
any other provision of this Trust Agreement, and this Trust Agreement shall be
carried out as if such invalid or unenforceable provision were not contained
herein.

      10.07 NOTICES. Any notice required or provided for in this Trust AGreement
shall be in writing and shall be deemed to have been given when deposited in the
United States mails, certified mail return receipt requested or personally
delivered to the Person at his address as shown on the records of the Trustee.

      10.8 COURT SUPERVISION. The Trust shall not be administered under the
direction or jurisdiction of any court, nor shall there by any duty of the
Trustee to account to any court with respect to its administration of the Trust
or the Trust Estate.

      IN WITNESS WHEREOF, the parties have executed this Liquidating Trust
Agreement the day and year first above written.

                                        MOBILESTREAM OIL, INC.

ATTEST:
                                        By: /s/ Frank Pringle (Pres.
                                            -------------------------------
/s/ signature
--------------------------------
Secretary

                                        OLDE MONMOUTH STOCK TRANSFER CO., INC.

ATTEST:

                                        By: /s/ signature
                                            -------------------------------
/s/ signature
--------------------------------
Secretary

                                       12EXHIBIT 10.12

                          SECURITIES PURCHASE AGREEMENT

     THIS SECURITIES PURCHASE AGREEMENT (this "Agreement") is made as of
December 21, 2007, by and between GLOBAL RESOURCE CORPORATION, a Nevada
corporation (the "Company") with an office at Bloomfield Business Park, 408
Bloomfield Dr. Unit 3, West Berlin, New Jersey 08091, and PROFESSIONAL OFFSHORE
OPPORTUNITY FUND, LTD. (the "Purchaser").

                                    RECITALS

     WHEREAS, the Company has authorized the sale and issuance of common stock,
warrants and common stock issuable upon exercise of the warrants (collectively,
the "Securities") as provided herein;

     WHEREAS, at the Closing (as defined herein), the Company desires to sell,
and the Purchaser desires to purchase, severally and not jointly, the Securities
upon the terms and conditions stated in this Agreement; and

     NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
promises, representations, warranties and covenants hereinafter set forth and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

                                    ARTICLE 1

                      AUTHORIZATION AND SALE OF SECURITIES

     1.1 AUTHORIZATION. The Company has authorized the sale and issuance of up
to 1,250,000 shares of its common stock, par value $.001 per share (the "Common
Stock"), representing as of the Closing Date 1.091% of the total issued and
outstanding share capital of the Company on a fully diluted basis, and warrants
(the "Warrants") to purchase up to 625,000 shares of its Common Stock.

     1.2 SALE OF SECURITIES. At the Closing, subject to the terms and conditions
of this Agreement, the Company agrees to issue and sell to the Purchaser and the
Purchaser agrees to purchase from the Company Securities consisting of the
instruments identified in (a) and (b) below, and to execute and deliver the
other documents identified in (c) and (d) below:

          (A) Stock certificates for the number of shares of Common Stock set
forth opposite the Purchaser's name on Exhibit A under the heading "Common
Stock," together with a no-stop letter (the "No-Stop Agreement") in form
satisfactory to the Purchaser, addressed to the Company's transfer agent. Such
shares are referred to herein as the "Shares.";

          (B) Warrants to purchase the number of shares of Common Stock set
forth opposite the Purchaser's name on EXHIBIT A under the heading "Common
Shares Underlying Warrants". The shares of Common Stock issuable upon exercise
of the Warrants are referred to herein as the "WARRANT SHARES." The number of
Warrant Shares shall be 625,000;

<PAGE>

          (C) An Escrow Agreement (the "Escrow Agreement") in respect of the
Adjustment Shares (defined in Section 2.3 below); and

          (D) A Registration Rights Agreement (the "Registration Rights
Agreement") between the Company and the Purchaser.

          (E) A Lock-up Agreement (the "Lock-Up Agreement") between the Company
and MJACC in connection with 1,000 shares of Preferred Stock of the Company
owned by MJACC. This Agreement, the Lock-Up Agreement, the Escrow Agreement, the
Registration Rights Agreement, the No-Stop Agreement and the Opinion are
sometimes collectively referred to herein as the "Transaction Documents."

                                    ARTICLE 2

                             CLOSING DATE; DELIVERY

     2.1 CLOSING DATE. The closing of the purchase and sale of the Securities
hereunder (the "CLOSING") shall be held at the offices of Sullivan & Worcester
LLP, 1290 Avenue of the Americas, New York, New York 10104, at 10:00 a.m. New
York time on the date hereof or at such other time and place upon which the
Company and the Purchaser shall agree.

     2.2 DELIVERY. At the Closing, the Company will deliver to the Purchaser a
duly executed stock certificate for the Shares set forth opposite the
Purchaser's name on Exhibit A, a Warrant representing the right to purchase the
number of Warrant Shares which the Purchaser is entitled to purchase and a
signed counterpart of each of the other Transaction Documents. In consideration
for such delivery the Purchaser shall deliver to the Escrow Agent (the "Escrow
Agent") the purchase price therefor (the "Purchase Price") by wire transfer of
immediately available funds, and the Escrow Agent will hold it in escrow and
release it in accordance with the terms of Section 2.3 hereof and the Escrow
Agreement. The Company shall also deliver to the Purchaser (a) the legal opinion
of Sol V. Slotnik, P.C., counsel to the Company, in form and substance
satisfactory to the Purchaser, including, without limitation, as to the
Purchaser's ability to rely on Rule 144 under the Securities Act of 1933, as
amended (the "Securities Act"), and (b) a certificate from a duly authorized
officer of the Company certifying that the representations made by the Company
in Article 3 are true and correct as of the Closing.

     2.3 PURCHASE PRICE. In consideration for the Shares sold and issued by the
Company to the Purchaser in accordance with the terms and conditions of this
Agreement, the Purchaser will pay to the Company One Million Two Hundred Fifty
Thousand Dollars, which will be paid as follows: (i) One Million Dollars which
will be released by the Escrow Agent upon the delivery of all duly executed
Transaction Documents, including the Opinion and the No-Stop Agreement and the
filing by the Company of a Current Report on Form 8-K, as evidenced on the SEC's
website (www.sec.gov); and (ii) Two Hundred Fifty Thousand Dollars ($250,000)
(the "Escrow Amount") which will be held by the Escrow Agent for a period of up
to fifteen (15) days after the Trigger Date, and released, at Purchaser's sole
discretion and instructions to Escrow Agent, as follows: (x) to the Company, in
which case the Purchaser will retain all of the Adjustment Shares, or (y) to
Purchaser, in which case Purchaser shall relinquish Two Hundred Fifty Thousand
Adjustment Shares back to the Company.

                                       2
<PAGE>

     2.4 ADJUSTMENT SHARES. At the Closing, the Company shall deliver to the
Escrow Agent two stock certificates, each in the name of the Purchaser, one of
which shall be for an aggregate of Four Hundred Thousand (400,000) shares of
Common Stock, and the second of which shall be for an aggregate of Two Hundred
Fifty Thousand (250,000) shares of Common Stock (collectively, the "Adjustment
Shares"). The Adjustment Shares shall be released to the Purchaser under the
circumstances described in Section 5.3 of this Agreement and in accordance with
the terms and conditions of the Escrow Agreement.

                                    ARTICLE 3

                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

     The Company represents and warrants to the Purchaser, as of the date
hereof, as follows:

     3.1 ORGANIZATION AND STANDING. The Company is a corporation duly organized
and validly existing under, and by virtue of, the laws of the State of Nevada
and is in good standing under the laws of said state, with requisite corporate
power and authority to own its properties and assets and to carry on its
business as currently conducted. The Company is not in violation of any of the
provisions of its Articles of Incorporation (the "Articles") or Bylaws.

     3.2 CORPORATE POWER; AUTHORIZATION. The Company has all requisite legal and
corporate power and has taken all requisite corporate action to execute and
deliver this Agreement and the other Transaction Documents, to sell and issue
the Securities, to issue the Warrant Shares upon exercise of the Warrants in
accordance with the terms of such Warrants, and to carry out and perform all of
its obligations under this Agreement and the Warrants. This Agreement, the
Warrants, the Escrow Agreement and the Registration Rights Agreement constitute,
legal, valid and binding obligations of the Company, enforceable in accordance
with their respective terms, except (a) as limited by applicable bankruptcy,
insolvency, reorganization or similar laws relating to or affecting the
enforcement of creditors' rights generally and (b) as limited by equitable
principles generally. The execution and delivery of the Transaction Documents do
not, and the performance of the Transaction Documents and the compliance with
the provisions hereof and thereof, including the issuance, sale and delivery of
the Securities by the Company will not, conflict with, or result in a breach or
violation of the terms, conditions or provisions of, or constitute a default
under, or result in the creation or imposition of any lien pursuant to the terms
of, the Articles or Bylaws of the Company, each as amended to date, or any
statute, law, rule or regulation or any state or federal order, judgment or
decree or any indenture, mortgage, lease or other agreement or instrument to
which the Company or any of its properties is subject, except for any conflict,
breach, violation, default or imposition of a lien (other than pursuant to the
terms of the Articles or Bylaws) that would not, individually or in the
aggregate, reasonably be expected to have a material adverse effect on the
assets, liabilities, financial condition, business or operations of the Company.

     3.3 ISSUANCE AND DELIVERY OF THE SECURITIES. The Securities, including,
without limitation, the Adjustment Shares, are duly authorized and, when issued
at the Closing, will be validly issued, fully paid and nonassessable and the
Warrant Shares are duly authorized and, upon exercise of the Warrants in
accordance with the terms thereof, will be validly issued, fully paid and
nonassessable and shall have been issued in compliance with all applicable
federal and state securities laws, including, without limitation, the Securities
Act. The issuance and delivery of the Securities are not subject to any right of

                                       3
<PAGE>

first refusal, preemptive right, right of participation, or any similar right
existing in favor of any person or any liens or encumbrances. When issued in
compliance with the provisions of this Agreement and the Articles, the issuance
of the Securities hereunder does not require the approval of the Company's
stockholders under the provisions of the Articles or Nevada law, or, any stock
exchange or self-regulatory organization.

     3.4 SEC DOCUMENTS; FINANCIAL STATEMENTS. Each report delivered to the
Purchaser is a true and complete copy of such document as filed by the Company
with the Securities and Exchange Commission (the "SEC"). The Company has filed
in a timely manner all documents that the Company was required to file with the
SEC, such documents, together with the exhibits thereto (the "SEC DOCUMENTS"),
under the Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT")
during the twelve calendar months preceding the date hereof. As of their
respective filing dates, all SEC Documents complied in all material respects
with the requirements of the Exchange Act. None of the SEC Documents as of their
respective dates contained any untrue statement of material fact or omitted to
state a material fact required to be stated therein or necessary to make the
statements made therein, in light of the circumstances under which they were
made, not misleading. The financial statements of the Company included in the
SEC Documents (the "FINANCIAL STATEMENTS") comply in all material respects with
applicable accounting requirements and with the published rules and regulations
of the SEC with respect thereto. The Financial Statements have been prepared in
accordance with generally accepted accounting principles consistently applied
and fairly present the consolidated financial position of the Company and its
subsidiaries, if any, at the dates thereof and the consolidated results of their
operations and consolidated cash flows for the periods then ended (subject, in
the case of unaudited statements, to normal, recurring adjustments or to the
extent that such unaudited statements do not include footnotes). The Company has
complied with all requirements under applicable securities laws to enable the
Purchaser to use Rule 144 under the Securities Act for sales of the Common
Stock, subject only to the applicable holding period therefor.

     3.5 GOVERNMENTAL CONSENTS. No consent, approval, order or authorization of,
or registration, qualification, designation, declaration or filing with, any
federal, state, or local governmental authority on the part of the Company is
required in connection with the consummation of the transactions contemplated by
this Agreement except for compliance with the securities and blue sky laws in
the states in which the Shares and Warrants are offered and/or sold, which offer
and sale will be effected in compliance with such laws.

     3.6 CAPITALIZATION.

          (A) The authorized capital stock of the Company consists solely of
2,000,000,000 shares of Common Stock of which, as of the date hereof,
immediately prior to the Closing, 30,726,363 shares were issued and are
outstanding, and 50,000,000 shares of preferred stock, of which as of the date
hereof One Thousand (1,000) shares designated MJACC Preferred Stock were issued
and are outstanding in the name of M.J. Advanced Corporate Communication, Inc.
and 35,236,188 shares designated 2006 Series of Convertible Preferred Stock were
issued and are outstanding in the name of Frank G. Pringle.

          (B) The One Million Two Hundred Fifty Thousand (1,250,000) shares of
Common Stock to be issued to the Purchaser in accordance with the terms and

                                       4
<PAGE>

conditions of this Agreement, shall represent, immediately after the Closing
1.091% of the Company's total issued and outstanding share capital on a fully
diluted basis.

          (C) Except (i) as disclosed to the Purchaser in Schedule 3.6 hereto or
(ii) as contemplated herein, there are no outstanding warrants, options,
convertible or exchangeable securities or other rights, agreements or
arrangements of any character under which the Company is or may be obligated to
issue any equity securities of any kind.

     3.7 LITIGATION. There are no actions, suits, proceedings or investigations
pending or, to the best of the Company's knowledge, threatened against the
Company or any of its properties before or by any court or arbitrator or any
governmental body, agency or official in which there is a reasonable likelihood
(in the reasonable judgment of the Company) of an adverse decision that (a)
could have a material adverse effect on the assets, liabilities, financial
condition, business or operations of the Company, or (b) could impair the
ability of the Company to perform in any material respect its obligations under
this Agreement or the Warrants or any other Transaction Document.

     3.8 COMPANY NOT AN "INVESTMENT COMPANY". The Company has been advised by
competent counsel of the rules and requirements under the Investment Company Act
of 1940, as amended (the "INVESTMENT COMPANY ACT"). The Company is not, and
immediately after receipt of payment for the Securities will not be, an
"investment company" or an entity "controlled" by an "investment company" within
the meaning of the Investment Company Act and shall conduct its business in a
manner so that it will not become subject to the Investment Company Act.

     3.9 COMPLIANCE. The Company's Common Stock is registered pursuant to
Section 12(g) of the Exchange Act and is listed on the over-the-counter bulletin
board (the "OTCBB"), and the Company has taken no action designed for the
purpose of, or likely to have the effect of, terminating the registration of its
Common Stock under the Exchange Act or de-listing the Common Stock from the
OTCBB, nor has the Company received any notification that the SEC or the OTCBB
is contemplating terminating such registration or listing. The Company is in
material compliance with the listing and maintenance requirements for continued
listing of the Common Stock on the OTCBB.

     3.10 USE OF PROCEEDS. The proceeds of the sale of the Securities shall be
used by the Company for working capital.

     3.11 BROKERS AND FINDERS. Except as otherwise disclosed to the Purchaser in
writing prior to the date hereof, no person or entity will have, as a result of
or in connection with the transactions contemplated by this Agreement, any valid
right, interest or claim against or upon the Company or the Purchaser for any
commission, fee or other compensation pursuant to any agreement, arrangement or
understanding, written or oral, entered into by or on behalf of the Company.

     3.12 INTELLECTUAL PROPERTY.

          (A) "INTELLECTUAL PROPERTY" shall mean patents, patent applications,
trademarks, trademark applications, service marks, trade names, copyrights,
trade secrets, licenses, information and other proprietary rights and processes.

                                       5
<PAGE>

          (B) Except as disclosed in the SEC Documents and to the best knowledge
of the Company, the Company owns or has the valid right to use all of the
Intellectual Property that is necessary for the conduct of the Company's
business as currently conducted or as currently proposed to be conducted free
and clear of all material liens and encumbrances.

          (C) Except as disclosed to the Purchaser in writing or as disclosed in
the SEC Documents and to the knowledge of the Company, (i) the conduct of the
Company's business as currently conducted does not infringe or otherwise
conflict with (collectively, "INFRINGE") any Intellectual Property rights of any
third party or any confidentiality obligation owed by the Company to a third
party and the Company has not received any written notice of any such
Infringement, and (ii) the Intellectual Property and confidential information of
the Company are not being Infringed by any third party.

     3.13 QUESTIONABLE PAYMENTS. Neither the Company nor, to the best knowledge
of the Company, any of its current or former stockholders, directors, officers,
employees, agents or other persons acting on behalf of the Company, has on
behalf of the Company or in connection with its business: (a) used any corporate
funds for unlawful contributions, gifts, entertainment or other unlawful
expenses relating to political activity; (b) made any direct or indirect
unlawful payments to any governmental officials or employees from corporate
funds; (c) established or maintained any unlawful or unrecorded fund of
corporate monies or other assets; (d) made any false or fictitious entries on
the books and records of the Company; or (e) made any unlawful bribe, rebate,
payoff, influence payment, kickback or other unlawful payment of any nature.

     3.14 TRANSACTIONS WITH AFFILIATES. Except as disclosed to the Purchaser in
Schedule 3.14 hereto and in the SEC Documents, none of the officers, directors
or shareholders of the Company and, to the best knowledge of the Company, none
of the employees of the Company is presently a party to any transaction with the
Company or to a presently contemplated transaction (other than for services as
employees, officers and directors) that would be required to be disclosed
pursuant to Item 404 of Regulation S-B promulgated under the Securities Act of
1933.

     3.15 INSURANCE. The Company maintains and will continue to maintain
insurance with financially sound and reputable insurers in such amounts and
covering such risks and in such amounts as are reasonably adequate, prudent and
consistent with industry practice for the conduct of its business and the value
of its property, all of which insurance is in full force and effect. The Company
has not received notice from, and has no knowledge of any threat by, any insurer
that has issued any insurance policy to the Company that such insurer intends to
deny coverage under or cancel, discontinue or not renew any insurance policy in
force as of the date hereof.

     3.16 NO ADDITIONAL AGREEMENTS. The Company does not have any agreement or
understanding with the Purchaser with respect to the transactions contemplated
by this Agreement other than as specified in this Agreement.

     3.17 ABSENCE OF UNDISCLOSED LIABILITIES. The Company has no material
liabilities of any nature (whether absolute, accrued, contingent or otherwise),
except (i) as and to the extent reflected in the Financial Statements as of and
for the period ended September 30, 2007, and (ii) for liabilities that have been
incurred in the ordinary course of business consistent with past practice since
September 30, 2007 and that would not, individually and in the aggregate,
reasonably be expected to have a material adverse effect on the assets,
financial condition, business or operations of the Company.

                                       6
<PAGE>

     3.18 GOVERNMENTAL AUTHORIZATIONS. The Company has all permits, licenses and
other authorizations of governmental authorities that are required for the
conduct of its business and operations as currently conducted or as currently
proposed to be conducted, the lack of which could materially and adversely
affect the assets, financial condition, business or operations of the Company,
except as described in the SEC Documents. The Company is, and at all times has
been, in compliance with the provisions of its material permits, licenses and
other governmental authorizations.

     3.19 NO MATERIAL ADVERSE CHANGE. Except as otherwise disclosed herein or in
the SEC Documents, since September 30, 2007, there have not been any changes in
the assets, liabilities, financial condition or operations of the Company from
that reflected in the Financial Statements except changes in the ordinary course
of business which have not been, either individually or in the aggregate,
materially adverse. The Company does not have pending before the SEC any request
for confidential treatment of information.

     3.20 RESERVATION. The Company has duly reserved for issuance such number of
shares of Common Stock as may be issuable from time to time upon exercise or
conversion, as the case may be, of the Securities.

     3.21 INTERNAL ACCOUNTING CONTROLS. The Company maintains a system of
internal accounting controls sufficient to provide reasonable assurance that (i)
transactions are executed in accordance with management's general or specific
authorizations, (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with GAAP and to maintain
asset accountability, (iii) access to assets is permitted only in accordance
with management's general or specific authorization, and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. The
Company has established disclosure controls and procedures (as defined in
Exchange Rules 13a-15 and 15d-15) for the Company and designed such disclosure
controls and procedures to ensure that material information relating to the
Company is made known to the certifying officers by others within those
entities, particularly during the period in which the Company's Form 10-K or
10-Q, as the case may be, is being prepared.

     3.22 TITLE TO ASSETS. The Company has good and marketable title in fee
simple to all real property owned by it that is material to the business of the
Company and good and marketable title in all tangible personal property owned by
them that is material to the business of the Company in each case free and clear
of all liens, except for liens that do not materially affect the value of such
property and do not materially interfere with the use made and proposed to be
made of such property by the Company and liens for the payment of federal, state
or other taxes, the payment of which is neither delinquent nor subject to
penalties. Any real property and facilities held under lease by the Company is
held by it under valid, subsisting and enforceable leases with which the Company
is in material compliance.

     3.23 REGISTRATION RIGHTS. Except as disclosed to the Purchaser in writing
including the disclosure in Section 2.1(d) of the Registration Rights Agreement,
the Company has not granted or agreed to grant to any person any rights
(including "piggy back" registration rights) to have any securities of the
Company registered with the SEC or any other governmental authority.

                                       7
<PAGE>

     3.24 MATERIAL NON-PUBLIC INFORMATION. The Company confirms that it has not
provided the Purchaser or their agents or counsel with any information that
constitutes or might constitute material non-public information as of the
Closing Date. The Company understands and confirms that the Purchaser shall be
relying on the foregoing representations in effecting transactions in securities
of the Company.

                                    ARTICLE 4

           REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PURCHASER

     The Purchaser hereby represents and warrants to the Company:

     4.1 AUTHORIZATION. (a) Purchaser has all requisite legal and corporate or
other power and capacity and has taken all requisite corporate or other action
to execute and deliver this Agreement, the Escrow Agreement and the Registration
Rights Agreement, to purchase the Shares and the Warrants to be purchased by it
and to carry out and perform all of its obligations under this Agreement and the
other Transaction Documents, and (b) this Agreement and the other Transaction
Documents to which a Purchaser is a party constitutes the legal, valid and
binding obligation of such Purchaser, enforceable in accordance with its terms,
except (i) as limited by applicable bankruptcy, insolvency, reorganization, or
similar laws relating to or affecting the enforcement of creditors' rights
generally and (ii) as limited by equitable principles generally.

     4.2 NO LEGAL, TAX OR INVESTMENT ADVICE. Purchaser understands that nothing
in this Agreement or any other materials presented to Purchaser in connection
with the purchase and sale of the Shares and the Warrants constitutes legal, tax
or investment advice. Purchaser has consulted such legal, tax and investment
advisors as it, in its sole discretion, has deemed necessary or appropriate in
connection with its purchase of the Shares, the Adjustment Shares and the
Warrants.

     4.3 INVESTMENT PURPOSE. The Purchaser is purchasing the Securities for its
own account and not with a present view towards the public sale or distribution
thereof, except pursuant to sales registered or exempted from registration under
the 1933 Act.

     4.4 ACCREDITED INVESTOR STATUS. The Purchaser is an "accredited investor"
as that term is defined in Rule 501(a) of Regulation D (an "Accredited
Investor").

     4.5 RELIANCE ON EXEMPTIONS. The Purchaser understands that the Securities
are being offered and sold to it in reliance upon specific exemptions from the
registration requirements of United States federal and state securities laws and
that the Company is relying upon the truth and accuracy of, and the Purchaser's
compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Purchaser set forth herein in order to determine the
availability of such exemptions and the eligibility of the Purchaser to acquire
the Shares and the Warrants.

     4.6 INFORMATION. The Purchaser and its advisors, if any, have 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 Securities
which have been requested by the Purchaser or its advisors. The Purchaser and
its advisors, if any, have been afforded the opportunity to ask questions of the

                                       8
<PAGE>

Company. Neither such inquiries nor any other due diligence investigation
conducted by Purchaser or any of its advisors or representatives shall modify,
amend or affect Buyer's right to rely on the Company's representations and
warranties contained in Section 2 above.

     4.7 GOVERNMENTAL REVIEW. The Purchaser understands that no United States
federal or state agency or any other government or governmental agency has
passed upon or made any recommendation or endorsement of the Securities.

     4.8 TRANSFER OR RESALE. The Purchaser understands that the sale or re-sale
of the Securities has not been and is not being registered under the 1933 Act or
any applicable state securities laws, and the Securities may not be transferred
unless

     (1) the Securities are sold pursuant to an effective registration statement
under the 1933 Act,

     (2) the Purchaser shall have delivered to the Company an opinion of
counsel, which opinion and counsel are acceptable to the Company, to the effect
that the Securities to be sold or transferred may be sold or transferred
pursuant to an exemption from such registration,

     (3) the Securities are sold or transferred to an "affiliate" (as defined in
Rule 144 promulgated under the 1933 Act (or a successor rule) ("Rule 144")) of
the Purchaser who agrees to sell or otherwise transfer the Securities only in
accordance with this Section 2(f) and who is an Accredited Investor,

     (4) the Securities are sold pursuant to Rule 144;

     (ii) any sale of such Securities 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 such Securities 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 such Securities under the 1933 Act or any state securities laws or to
comply with the terms and conditions of any exemption thereunder.

     (iv) LEGENDS. The Purchaser understands that until such time as the Shares,
the Warrants and the Warrant Shares have been registered under the 1933 Act or
otherwise may be sold pursuant to Rule 144 without any restriction as to the
number of securities as of a particular date that can then be immediately sold,
the Shares, the Warrants and the Warrant Shares will bear a restrictive legend
in substantially the following form (and a stop-transfer order will be placed
against transfer of the certificates for such Securities):

     "The securities represented by this certificate have not been
     registered under the Securities Act of 1933, as amended. The securities
     may not be sold, transferred or assigned in the absence of an effective
     registration statement for the securities under said Act, or an opinion
     of counsel, which opinion and counsel are acceptable to the Company,
     that registration is not required under said Act or unless sold
     pursuant to Rule 144 under said Act."

                                       9
<PAGE>

     The legend set forth above shall be removed and the Company shall issue a
certificate without such legend to the holder of any Security upon which it is
stamped, if, unless otherwise required by applicable state securities laws, (a)
such Security is registered for sale under an effective registration statement
filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 without
any restriction as to the number of securities as of a particular date that can
then be immediately sold, or (b) such holder provides the Company with an
opinion of counsel, which opinion and counsel are acceptable to the Company, to
the effect that a public sale or transfer of such Security may be made without
registration under the 1933 Act and such sale or transfer is effected. The
Purchaser agrees to sell all Securities, including those represented by a
certificate(s) from which the legend has been removed, in compliance with
applicable prospectus delivery requirements, if any.

                                    ARTICLE 5

             ADDITIONAL AGREEMENTS OF THE COMPANY AND THE PURCHASER

     5.1 SECURITIES LAWS DISCLOSURE; PUBLICITY. The Company shall, by 1:30 p.m.
Eastern time on the business day following the Closing Date of this Agreement,
issue a press release and file a Current Report on Form 8-K, in each case
reasonably acceptable to the Purchaser, disclosing the transactions contemplated
hereby. The Company agrees and acknowledges that the filing of the Current
Report on Form 8-K as evidenced on the SEC website, is a condition precedent to
the release of the Purchase Price as described in Section 2.2 herein. The
Company and the Purchaser shall consult with each other in issuing any press
releases with respect to the transactions contemplated hereby, and none of the
Company, the Purchaser shall issue any such press release or otherwise make any
such public statement without the prior consent of the Company, with respect to
any press release of the Purchaser, with respect to any press release of the
Company, which consent shall not unreasonably be withheld, except if such
disclosure is required by law, in which case the disclosing party shall promptly
provide the other party with notice of such public statement or communication
and consult with each other with respect thereto prior to such public
disclosure. Notwithstanding the foregoing, other than as set forth above, the
Company shall not publicly disclose the name of the Purchaser, or include the
name of the Purchaser in any filing with the SEC or any regulatory agency or
stock exchange, except to the extent such disclosure is required by law or stock
exchange regulation, in which case the Company shall provide the Purchaser with
prior notice of such disclosure.

     5.2 LISTING OF COMMON STOCK. The Company hereby agrees to use commercially
reasonably efforts to maintain the listing on the OTCBB of the Common Stock sold
hereunder or issuable upon exercise of the Warrants. The Company further agrees,
if the Company applies to have its Common Stock traded on any other stock
exchange or quotation system, it will include in such application the Common
Stock issuable upon exercise of the Warrants, and will take such other action as
is necessary or desirable in the opinion of the Purchaser to cause the Common
Stock issuable upon exercise of the Warrants to be listed on such other stock
exchange or quotation system as promptly as possible.

     5.3 RELEASE OF ADJUSTMENT SHARES. In the event (i) the registration
statement required under the Registration Right Agreement is not effective under
the Securities Act by no later than June 30, 2008 (the "Trigger Date") or (ii)
the closing stock price of the Company's Common Stock for any day prior to the
Trigger Date is less than $1.00 per share, then in each such instance the
Company hereby authorizes the Purchaser to direct the Escrow Agent immediately
to release the Adjustment Shares to the Purchaser and the Company shall join in
such direction, provided that the Escrow Agent may act solely on the direction
of the Purchaser.

                                       10
<PAGE>

     5.4 RELEASE OF ESCROW AMOUNT. After release of the Adjustment Shares to the
Purchaser in accordance with Section 5.3 above, the Purchaser in its sole
discretion, shall have the option to: (i) instruct the Escrow Agent to release
the Escrow Amount to the Company, in which case the Purchaser will retain all of
the Adjustment Shares, or (ii) have the Escrow Amount returned to Purchaser, at
which case Purchaser shall relinquish Two Hundred Fifty Thousand Adjustment
Shares back to the Company. In each such instance the Company hereby authorizes
the Purchaser to direct the Escrow Agent immediately to release the Escrow
Amount as directed by the Purchaser and the Company shall join in such
direction, provided that the Escrow Agent may act solely on the direction of the
Purchaser

     5.5 RULE 144 REPORTING. With a view to making available to the Purchaser
the benefits of certain rules under applicable securities laws and without
limiting the obligations of the Company under the Registration Rights Agreement,
the Company agrees to:

          (i) make and keep public information available, as those terms are
understood and defined in SEC Rule 144, at all times;

          (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;
and

          (iii) furnish to the Purchaser so long as the Purchaser owns any
Shares, promptly upon the request of the Purchaser, a written statement by the
Company that it has complied with the reporting requirements of said Rule 144
and of the Securities Act and of the Exchange Act, a copy of the most recent
annual or quarterly report of the Company and such other publicly disseminated
reports and documents as the Purchaser may reasonably request.

     5.5 COVENANT OF PURCHASER. Purchaser shall not engage in any unlawful
trading activity in connection with the Company securities.

                                    ARTICLE 6

                                  MISCELLANEOUS

     6.1 WAIVERS AND AMENDMENTS. The terms of this Agreement may be waived or
amended only upon the written consent of the Company and the Purchaser.

     6.2 GOVERNING LAW; JURISDICTION. This Agreement, and any claims arising out
of relating to this Agreement or any of the Transaction Documents, whether in
contract or tort, statutory or common law, shall be governed exclusively by, and
construed in accordance with the laws of the State of New York without regard to
principles of conflicts of laws. No other state's law shall apply to any claim
relating to or arising from this Agreement or any transaction relating to this
Agreement or any of the Transaction Documents. THE COMPANY AND THE PURCHASER
CONSENT THAT ANY LEGAL ACTION OR PROCEEDING AGAINST EITHER OF THEM UNDER,
ARISING OUT OF OR IN ANY MANNER RELATING TO THIS AGREEMENT, OR ANY OTHER
INSTRUMENT OR DOCUMENT EXECUTED AND DELIVERED IN CONNECTION HEREWITH SHALL BE

                                       11
<PAGE>

BROUGHT EXCLUSIVELY IN ANY COURT OF THE STATE OF NEW YORK OR IN THE UNITED
STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE, IN
THE COUNTY OF NEW YORK. THE COMPANY AND THE PURCHASER, BY THE EXECUTION AND
DELIVERY OF THIS AGREEMENT, EXPRESSLY AND IRREVOCABLY CONSENTS AND SUBMITS TO
THE PERSONAL JURISDICTION OF ANY OF SUCH COURTS IN ANY SUCH ACTION OR
PROCEEDINGS. THE COMPANY AND THE PURCHASER AGREE THAT PERSONAL JURISDICTION OVER
EITHER OF THEM MAY BE OBTAINED BY THE DELIVERY OF A SUMMONS (POSTAGE PREPAID) IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 6.6 OF THIS AGREEMENT. ASSUMING
DELIVERY OF THE SUMMONS IN ACCORDANCE WITH THE PROVISIONS OF SECTION 6.6 OF THIS
AGREEMENT, THE COMPANY AND THE PURCHASER HEREBY EXPRESSLY AND IRREVOCABLY WAIVE
ANY ALLEGED LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON
CONVENIENS OR ANY SIMILAR BASIS.

     6.3 SURVIVAL. The representations, warranties, covenants and agreements
made in this Agreement shall survive any investigation made by the Company or
the Purchaser and the Closing.

     6.4 SUCCESSORS AND ASSIGNS. The Purchaser shall not assign this Agreement,
or the rights and obligations of the arties hereunder without the prior written
consent of the Company.

     6.5 ENTIRE AGREEMENT. This Agreement and the other Transaction Documents
constitute the full and entire understanding and agreement between the parties
with regard to the subjects thereof.

     6.6 NOTICES, ETC. All notices and other communications required or
permitted under this Agreement shall be in writing and may be delivered in
person, by telecopy, overnight delivery service or registered or certified
United States mail, addressed to the Company or the Purchaser, as the case may
be, at their respective addresses set forth at the beginning of this Agreement
or on EXHIBIT A, or at such other address as the Company, on the one hand, or
the Purchaser, on the other hand, shall have furnished to the other party in
writing. All notices and other communications shall be effective upon the
earlier of actual receipt thereof by the person to whom notice is directed or
(a) in the case of notices and communications sent by personal delivery or
telecopy, one business day after such notice or communication arrives at the
applicable address or was successfully sent to the applicable telecopy number,
(b) in the case of notices and communications sent by overnight delivery
service, at noon (local time) on the second business day following the day such
notice or communication was sent, and (c) in the case of notices and
communications sent by United States mail, seven days after such notice or
communication shall have been deposited in the United States mail.

     6.7 SEVERABILITY OF THIS AGREEMENT. If any provision of this Agreement
shall be judicially determined to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     6.8 COUNTERPARTS; SIGNATURES BY FACSIMILE. This Agreement may be executed
in any number of counterparts, each of which shall be an original, but all of
which together shall constitute one instrument. This Agreement, once executed by
a party, may be delivered to the other parties hereto by facsimile transmission
of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

                                       12
<PAGE>

     6.9 FURTHER ASSURANCES. Each party to this Agreement 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 hereto 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.

     6.10 EXPENSES. Each party shall bear its own expenses, except that the
Company agrees to pay Professional Offshore Opportunity Fund, Ltd. for their
expenses, including, without limitation, counsel fees with respect to this
Agreement and the transactions contemplated in the aggregate amount of $20,000
and due diligence fee, payable to Professional Traders Management LLC, of
$10,000. Expenses under this provision shall be paid at Closing. In addition,
the Purchaser shall be entitled to recover their reasonable attorneys' fees,
costs and expenses in connection with any action taken to enforce the terms of
the Transaction Documents or to collect any amounts due.

     6.11 REPLACEMENT OF SECURITIES. If any certificate or instrument evidencing
any Securities is mutilated, lost, stolen or destroyed, the Company shall issue
or cause to be issued in exchange and substitution for and upon cancellation
thereof, or in lieu of and substitution therefore, a new certificate or
instrument, but only upon receipt of evidence reasonably satisfactory to the
Company of such loss, theft or destruction and customary and reasonable
indemnity, if requested. The applicants for a new certificate or instrument
under such circumstances shall also pay any reasonable third-party costs
associated with the issuance of such replacement Securities.

     IN WITNESS WHEREOF, this Agreement is hereby executed as of the date first
above written.

                                     GLOBAL RESOURCE CORPORATION

                                     By:________________________________
                                        Name:
                                        Title:

                                     PROFESSIONAL OFFSHORE
                                     OPPORTUNITY FUND, LTD.

                                     By:________________________________
                                        Name:
                                        Title:

                                       13
<PAGE>

                                                                       EXHIBIT A

                              SCHEDULE OF PURCHASER

                                           COMMON
                                           SHARES
                              COMMON      UNDERLYING    ADJUSTMENT    PURCHASE
PURCHASER                     SHARES       WARRANT        SHARES       PRICE
-------------------------------------------------------------------------------
                            1,250,000      625,000        650,000    $1,000,000
                                                                          +
Professional Offshore                                                 $250,000
Opportunity Fund, Ltd.                                                (Escrow-
1400 Old Country Road                                                  Amount)
Suite 206
Westbury, New York 11590

              Total                                                  $1,250,000

                                       14

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