Document:

Exhibit 10.1

                             2003 COMPENSATION PLAN
                           FOR CONSULTANTS AND OTHERS

1.       PURPOSE OF PLAN

         1.1 This 2003 Compensation Plan for Consultants and Others (the "Plan")
of RRUN Ventures Network, Inc., a Nevada corporation (the "Company") for
employees, officers, directors and other persons associated with the Company or
that render outside consulting services to the Company, is intended to advance
the best interests of the Company by providing those persons who have a
substantial responsibility for its management and growth with additional
incentive and by increasing their proprietary interest in the success of the
Company, thereby encouraging them to maintain their relationships with the
Company. Further, the availability and offering of common stock under the Plan
supports and increases the Company's ability to attract and retain individuals
of exceptional talent upon whom, in large measure, the sustained progress,
growth and profitability of the Company depends.

2.       DEFINITIONS

         2.1 For Plan purposes, except where the context might clearly indicate
other wise, the following terms shall have the meanings set forth below:

         "Board" shall mean the Board of Directors of the Company.

         "Committee" shall mean the Compensation Committee, or such other
committee appointed by the Board, which shall be designated by the Board to
administer the Plan, or the Board if no committees have been established. If no
committees have been established the Board will designate one member of the
Board as the Plan Administrator. The Committee shall be composed of three or
more persons as from time to time are appointed to serve by the Board. Each
member of the Committee, while serving as such, shall be a disinterested person
with the meaning of Rule 16b-3 promulgated under the Securities Exchange Act of
1934.

         "Common Shares" shall mean the Company's Common Shares, $.0001 par
value per share, or, in the event that the outstanding Common Shares are
hereafter changed into or exchanged for different shares of securities of the
Company, such other shares or securities.

         "Company" shall mean RRUN Ventures Network, Inc., a Nevada corporation,
and any parent or subsidiary corporation of RRUN Ventures Network, Inc., as such
terms are defined in Sections 425(e) and 425(f), respectively, of
the Code.

         "Fair Market Value" shall mean, the average of the highest and lowest
reported sales prices of the Common Shares, as reported by such responsible
reporting service as the Committee may select, or if there were no transactions
in the Common Shares on such day, then the last preceding day on which
transactions took place. The above notwithstanding, the Committee may determine
the Fair Market Value in such other manner as it may deem more equitable for
Plan purposes or as is required by applicable laws or regulations.

         "Common Stock" shall mean shares of common stock which are issued by
the Company pursuant to Section 5, below.

         "Common Stockholder" means the employee of, consultant to, or director
of the Company or other person to whom shares of Common Stock are issued
pursuant to this Plan.

                                       1

         "Common Stock Agreement" means an agreement executed by a Common
Stockholder and the Company as contemplated by Section 5, below, which imposes
on the shares of Common Stock held by the Common Stockholder such restrictions
as the Board or Committee deem appropriate.

3.       ADMINISTRATION OF THE PLAN

         3.1 The Committee shall administer the Plan and accordingly, it shall
have full power to grant Common Stock issuances, construe and interpret
the Plan, establish rules and regulations and perform all other acts, including
the delegation of administrative responsibilities, it believes reasonable and
proper.

         3.2 The determination of those eligible to receive Common Stock, and
the amount, type and timing of each grant and the terms and conditions of the
Common Stock agreements shall rest in the sole discretion of the Committee,
subject to the provisions of the Plan.

         3.3 The Board, or the Committee, may correct any defect, supply any
omission or reconcile any inconsistency in the Plan, or in any Common Stock
agreement, in the manner and to the extent it shall deem necessary to carry it
into effect.

         3.4 Any decision made, or action taken, by the Committee or the Board
arising out of or in connection with the interpretation and administration of
the Plan shall be final and conclusive.

         3.5 Meetings of the Committee shall be held at such times and places as
shall be determined by the Committee. A majority of the members of the Committee
shall constitute a quorum for the transaction of business, and the vote of a
majority of those members present at any meeting shall decide any question
brought before that meeting. In addition, the Committee may take any action
otherwise proper under the Plan by the affirmative vote, taken without a
meeting, of a majority of its members.

         3.6 No member of the Committee shall be liable for any act or omission
of any other member of the Committee or for any act or omission on his own part,
including, but not limited to, the exercise of any power or discretion given to
him under the Plan, except those resulting from his own gross negligence or
willful misconduct.

         3.7 The Company, through its management, shall supply full and timely
information to the Committee on all matters relating to the eligibility of
persons to receive Common Stock under the Plan ("Plan Participants"), their
duties and performance, and current information on any Plan Participant's death,
retirement, disability or other termination of association with the Company, and
such other pertinent information as the Committee may require. The Company shall
furnish the Committee with such clerical and other assistance as is necessary in
the performance of its duties hereunder.

4.       SHARES SUBJECT TO THE PLAN

         4.1 The total number of shares of the Company available for grants of
Common Stock under the Plan shall be 20,000,000 Common Shares, subject to
adjustment in accordance with Article 7 of the Plan, which shares may be either
authorized but unissued or re-acquired Common Shares of the Company.

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5.       AWARD OF COMMON STOCK

         5.1 The Board or Committee from time to time, in its absolute
discretion, may (a) award Common Stock to employees of, consultants to, and
directors of the Company, and such other persons as the Board or Committee may
select. All such recipients of Common Shares shall be collectively referred to
throughout this Plan as Plan Participants. The Board or Committee, as the case
maybe, is specifically authorized to grant the issuance of Common Stock under
this Plan, as compensation that would otherwise be payable to the Plan
Participants in exchange for their services to the Company.

         5.2 Common Stock shall be issued only pursuant to a Common Stock
Agreement, which shall be executed by the Common Stockholder and the Company and
which shall contain such terms and conditions as the Board or Committee shall
determine consistent with this Plan, including such restrictions on transfer as
are imposed by the Common Stock Agreement.

         5.3 Upon delivery of the shares of Common Stock to the Common
Stockholder, below, the Common Stockholder shall have, unless otherwise provided
by the Board or Committee, all the rights of a stockholder with respect to said
shares, subject to the restrictions in the Common Stock Agreement, including the
right to receive all dividends and other distributions paid or made with respect
to the Common Stock.

         5.4. Notwithstanding anything in this Plan or any Common Stock
Agreement to the contrary, no Common Stockholders may sell or otherwise
transfer, whether or not for value, any of the Common Stock prior to the date on
which the Common Stockholder is vested therein.

         5.5 All shares of Common Stock issued under this Plan (including any
shares of Common Stock and other securities issued with respect to the shares of
Common Stock as a result of stock dividends, stock splits or similar changes in
the capital structure of the Company) shall be subject to such restrictions as
the Board or Committee shall provide, which restrictions may include, without
limitation, restrictions concerning voting rights, transferability of the Common
Stock and restrictions based on duration of employment with the Company, Company
performance and individual performance; provided that the Board or Committee
may, on such terms and conditions as it may determine to be appropriate, remove
any or all of such restrictions. Common Stock may not be sold or encumbered
until all applicable restrictions have terminated or expire. The restrictions,
if any, imposed by the Board or Committee of the Board under this Section 5 need
not be identical for all Common Stock and the imposition of any restrictions
with respect to any Common Stock shall not require the imposition of the same or
any other restrictions with respect to any other Common Stock.

         5.6 Each Common Stock Agreement shall provide that the Company shall
have the right to repurchase from the Common Stockholder any unvested Common
Stock upon a termination of employment, termination of directorship or
termination of a consultancy arrangement, as applicable, at a cash price per
share equal to the purchase price paid by the Common Stockholder for such Common
Stock.

         5.7 In the discretion of the Board or Committee, the Common Stock
Agreement may provide that the Company shall have the right of first refusal
with respect to the Common Stock and a right to repurchase the vested Common
Stock upon a termination of the Common Stockholder's employment with the
Company, the termination of the Common Stockholder's consulting arrangement with
the Company, the termination of the Common Stockholder's service on the
Company's Board, or such other events as the Board or Committee may deem
appropriate.

                                       3

         5.8 The Board or Committee shall cause a legend or legends to be placed
on certificates representing shares of Common Stock that are subject to
restrictions under Common Stock Agreements, which legend or legends shall make
appropriate reference to the applicable restrictions.

6.       ADJUSTMENTS OR CHANGES IN CAPITALIZATION

         6.1 In the event that the outstanding Common Shares of the Company are
hereafter changed into or exchanged for a different number or kind of shares or
other securities of the Company by reason of merger, consolidation, other
reorganization, recapitalization, reclassification, combination of shares, stock
split-up or stock dividend:

                  A. Prompt, proportionate, equitable, lawful and adequate
adjustment shall be made of the aggregate number and kind of shares subject to
all Common Stock Agreements which may be granted under the Plan, such that the
Plan Participants shall have the right to receive such Common Shares as may be
issued in exchange for the Common Shares had such merger, consolidation, other
reorganization, recapitalization, reclassification, combination of shares, stock
split-up or stock dividend not taken place;

         6.2 The foregoing adjustments and the manner of application of the
foregoing provisions shall be determined solely by the Committee, whose
determination as to what adjustments shall be made and the extent thereof, shall
be final, binding and conclusive. No fractional Shares shall be issued under the
Plan on account of any such adjustments.

7.       AMENDMENT AND TERMINATION OF PLAN

         7.1 The Board may at any time, and from time to time, suspend or
terminate the Plan in whole or in part or amend it from time to time in such
respects as the Board may deem appropriate and in the best interest of the
Company.

         7.2 No amendment, suspension or termination of this Plan shall, without
the Plan Participant's consent, alter or impair any of the rights or obligations
under any Common Stock Agreement theretofore granted to him under the Plan.

         7.3 The Board may amend the Plan, subject to the limitations cited
above, in such manner as it deems necessary to permit the granting of Stock
Options meeting the requirements of future amendments or issued regulations, if
any, to the Code.

8.      GOVERNMENT AND OTHER REGULATIONS

         8.1 The obligation of the Company to issue, transfer and deliver
Common Shares received under the Plan shall be subject to all applicable laws,
regulations, rules, orders and approvals which shall then be in effect and
required by the relevant stock exchanges on which the Common Shares are traded
and by government entities as set forth below or as the Committee in its sole
discretion shall deem necessary or advisable. Specifically, in connection with
the Securities Act of 1933, as amended, the receipt of any Common Shares under
the Plan by Plan Participants shall be governed by the rules and regulations
promulgated under the Securities Act of 1933, as amended, as to the permitted
uses of Form S-8 and the issuance of securities registered on such Form S-8. Any
determination in this connection by the Committee shall be final, binding and
conclusive. The Company may, but shall in no event be obligated to, take any
other affirmative action in order to cause the issuance of Common Shares
pursuant thereto to comply with any law or regulation of any government
authority.

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9.       MISCELLANEOUS PROVISIONS

         9.1 No person shall have any claim or right to be granted Common Stock
under the Plan, and the grant of Common Stock under the Plan shall not be
construed as giving a Common Stockholder the right to be retained by the
Company. Furthermore, the Company expressly reserves the right at any time to
terminate its relationship with an Plan Participant with or without cause, free
from any liability, or any claim under the Plan, except as provided herein, in
any agreement between the Company and the Plan Participant.

         9.2 Any expenses of administering this Plan shall be borne by the
Company.

         9.3 The place of administration of the Plan shall be in the City of
Vancouver, British Columbia, Canada, but the validity, construction,
interpretation, administration and effect of the Plan and of its rules and
regulations, and rights relating to the Plan, shall be determined solely in
accordance with the laws of the State of Nevada.

         9.4 Without amending the Plan, grants may be made to persons who are
foreign nationals or employed outside the United States, or both, on such terms
and conditions, consistent with the Plan's purpose, different from those
specified in the Plan as may, in the judgment of the Committee, be necessary or
desirable to create equitable opportunities given differences in tax laws in
other countries.

         9.5 In addition to such other rights of indemnification as they may
have as members of the Board or the Committee, the members of the Committee
shall be indemnified by the Company against all costs and expenses reasonably
incurred by them in connection with any action, suit or proceeding to which they
or any of them may be party by reason of any action taken or failure to act
under or in connection with the Plan or any Common Stock Agreement granted
thereunder, and against all amounts paid by them in settlement thereof (provided
such settlement is approved by independent legal counsel selected by the
Company) or paid by them in satisfaction of a judgment in any such action, suit
or proceeding, except a judgment based upon a finding of bad faith; provided
that upon the institution of any such action, suit or proceeding a Committee
member shall, in writing, give the Company notice thereof and an opportunity, at
its own expense, to handle and defend the same, with counsel acceptable to the
Plan Participant, before such Committee member undertakes to handle and defend
it on his own behalf.

         9.6 Notwithstanding anything to the contrary in the Plan, if the
Committee finds by a majority vote, after full consideration of the facts
presented on behalf of both the Company and the Plan Participant, that the Plan
Participant has been engaged in fraud, embezzlement, theft, insider trading in
the Company's stock, commission of a felony or proven dishonesty in the course
of his association with the Company or any subsidiary corporation which damaged
the Company or any subsidiary corporation, or for disclosing trade secrets of
the Company or any subsidiary corporation, the Plan Participant shall forfeit
all Common Shares that remain in the beneficial ownership of the Plan
Participant and that were received by him under the Plan. The decision of the
Committee as to the cause of a Plan Participant's discharge and the damage done
to the Company shall be final. No decision of the Committee, however, shall
affect the finality of the discharge of such Plan Participant by the Company or
any subsidiary corporation in any manner.

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10.      WRITTEN AGREEMENT

         10.1 All Common Shares granted hereunder shall be embodied in a written
Common Stock Agreement which shall be subject to the terms and conditions
prescribed above and shall be signed by the Plan Participant and by the
President of the Company, or by the Chief Executive Officer of the Company or by
the Plan Administrator of the Board, for and in the name and on behalf of the
Company. Such Common Stock Agreement shall contain such other provisions as the
Committee, in its discretion shall deem advisable.

            The undersigned duly appointed secretary of the Company, does hereby
certify that this Plan, and its terms and provisions, were duly approved by the
Company's Board of Directors on this 27th day of June, 2003.

                                    s/ Edwin Kwong
                                     Corporate SecretaryExhibit 4.1

                              CONSULTING AGREEMENT

         THIS CONSULTING AGREEMENT, dated as of July 1, 2003 (the "Agreement"),
by and between SkyWay Communications Holding Corp., a Florida Corporation (the
"Company"), with offices located at 6021-142nd Avenue North, Clearwater, FL, and
Michael D. Farkas, an individual residing in the State of Florida (the
"Consultant"), with offices located at 1680 Michigan Avenue, Suite 1000, Miami
Florida 33139 (individually, a "Party", collectively, the "Parties").

                                    RECITALS

         WHEREAS, the Company has requested of Consultant and the Consultant has
 agreed to provide  certain  strategic,  financial and other general corporate
consulting services to the Company.

         WHEREAS, in connection with and in consideration for such services, the
Company has agreed to compensate Consultant with warrants to purchase common
stock of the Company in lieu of cash payment.

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein, the Parties agree as follows:

                  1.       Services. Consultant agrees to familiarize itself to
the extent it deems appropriate and feasible with the business, operations,
properties, financial condition and prospects of the Company and to perform and
provide, as the Company reasonably and specifically requests, certain strategic,
financial, and other general corporate consulting services to the Company
("Services"), including but not limited to: (i) identifying prospective
strategic partners and strategic alliances (except reverse mergers designed to
take a private company public); (ii) planning, strategizing and negotiating with
potential strategic business partners; (iii) assisting with business
development; (iv) reporting as to developments concerning the industry which may
be relevant or of interest or concern to the Company or the Company's business;
(v) developing strategic planning issues; (vi) providing management consulting
services including: analyzing historical operational performance, reviewing
operational performance of the Company, making recommendations to enhance the
operational efficiency of the Company; and (vii) consulting on alternatives to
enhance the growth of the Company. NONE OF THE SERVICES PROVIDED BY CONSULTANT
HEREIN SHALL INVOLVE THE RAISING OF DEBT OR EQUITY CAPITAL, AND NOTHING IN THIS
AGREEMENT SHALL BE CONSTRUED AS TO OBLIGATE OR REQUIRE THE CONSULTANT TO RAISE
DEBT OR EQUITY CAPITAL.

                  2.       Compensation. (i) In consideration of the Services to
be provided by the Consultant, and in lieu of a cash payment, the Company agrees
to issue to Consultant (x) 1,250,000 shares of common stock of the Company, and
(y) warrants (the "Warrants") to purchase 2,000,000 shares of the Company's
common stock with an exercise price of $.15 per share; Warrants to purchase
1,000,000 shares of the Company's common stock with an exercise price of $.30
per share; Warrants to purchase 1,000,000 shares of the Company's common stock
with an exercise price of $.55 per share; Warrants to purchase 1,000,000 shares
of the Company's common stock with an exercise price of $1.00 per share; and
Warrants to purchase 1,000,000 shares of the Company's common stock with an
exercise price of $1.10 per share. The Warrants shall be exercisable for a
period of five years from the date and shall be set forth in one or more
agreements (the "Warrant Agreements") in form and substance reasonably
satisfactory to Consultant and the Company. The Warrant Agreements shall contain
customary terms, including without limitation, provisions for change of control
and weighted-average price based anti-dilution.

                           (ii)     The Company hereby agrees to register the
Shares, the Warrants, and the Shares underlying the Warrants by filing a Form
S-8 Registration Statement covering the Shares within five (5) business days of
the date of this Agreement. Consultant shall take any action reasonably
requested by the Company in connection with registration or qualification of the
Warrants and Shares under federal or state securities laws

                           (iii)    In addition to the foregoing, the Company
shall reimburse the Consultant for such business expenses which the Consultant
incurs solely in connection with the performance of the Services hereunder. The
Consultant shall obtain the prior written approval of the Company before
incurring any expenses for which the Consultant will seek reimbursement from the
Company. The Consultant must submit receipts for all expenses and otherwise
comply with all of the Company's general policies for expense reimbursement in
order to receive payment therefor. The Company shall reimburse the Consultant
for expenses within fifteen (15) days following submission of all required
documentation.

                           (iv)     It is expressly understood and agreed that
in connection with the Services to be performed by the Consultant, the
Consultant shall be solely responsible for any and all taxes arising from the
consulting fees paid to the Consultant hereinafter.

                3.         Term.    Consultant's engagement shall be for a
period of Six (6) months ("Term"). Thereafter, the agreement may be terminated
by either the Company or Consultant at any time, with or without cause, upon
written notice to that effect to the other party.

                4.         Information. The Company shall furnish Consultant
such information as Consultant reasonably requests in connection with the
performance of its services hereunder (all such information so furnished is
referred to herein as the "Information"). The Company understands and agrees
that Consultant, in performing its services hereunder, will use and rely upon
the Information as well as publicly available information regarding the Company
and any potential partners and that Consultant shall not assume responsibility
for independent verification of any information, whether publicly available or
otherwise furnished to it, concerning the Company or any potential partner,
including, without limitation, any financial information, forecasts or
projections, considered by Consultant in connection with the rendering of its
services. Accordingly, Consultant shall be entitled to assume and rely upon the
accuracy and completeness of all such information and is not required to conduct
a physical inspection of any of the properties or assets, or to prepare or
obtain any independent evaluation or appraisal of any of the assets or
liabilities, of the Company or any potential partner. With respect to any
financial forecasts and projections made available to Consultant by the Company
or any potential partners and used by Consultant in its analysis, Consultant
shall be entitled to assume that such forecasts and projections have been
reasonably prepared on bases reflecting the best currently available estimates
and judgments of the management of the Company or any potential partner, as the
case may be, as to the matters covered thereby.

                5.         Timely Appraisals. The Company hereby agrees to use
its commercially reasonable efforts to keep Consultant up to date and apprised
of all business, market and legal developments related to the Company and its
operations and management. Accordingly:

                           (i)      the Company shall provide Consultant with
copies of all amendments, revisions and changes to its business and marketing
plans, bylaws, articles of incorporation, private placement memoranda, key
contracts, employment and consulting agreements and other operational
agreements;

                           (ii)     the Company shall promptly notify Consultant
of all new contracts agreements, joint ventures or filings with any state,
federal or local administrative agency, including without limitation the SEC,
NASD or any state agency, and shall provide all related documents, including
copies of the exact documents filed, to Consultant, including without
limitation, all annual reports, quarterly reports and notices of change of
events, and registration statements filed with the SEC and any state agency,
directly to Consultant;

                           (iii)    the Company shall also provide directly to
Consultant current financial statements, including balance sheets, income
statements, cash flows and all other documents provided or generated by the
Company in the normal course of its business and requested by Consultant from
time to time; and

                           (iv)     Consultant shall keep all documents and
information supplied to it hereunder confidential.

                6.         Representations and Warranties. The Consultant hereby
represents and warrants to the Company that:

                           (i)      he has full legal capacity to enter into
this Agreement and to provide the Services hereunder without violation or
conflict with any other agreement or instrument to which the Consultant is a
party or may be bound;

                           (ii)     in the course of performing the Services
hereunder, the Consultant will not infringe the patent, trademark or copyright
(collectively, "Intellectual Property") of any third party;

                           (iii)    the execution, delivery and performance of
this Agreement does not and will not conflict with, violate or breach its
constituent documents or any agreement (including, without limitation, any other
distribution agreement), decree, order or judgment or any law or regulation to
which it is a party or subject or by which it or any of its properties or assets
is bound.

                7.         Relationship of the Parties. The Consultant shall be
an independent contractor and the Consultant shall not be considered in any
manner an employee of the Company and the relationship of the Company and the
Consultant shall not in any manner create an employer-employee relationship
between the parties.

                8.         Reliance on Others. The Company confirms that it will
rely on its own counsel, accountants and other similar expert advisors for
legal, accounting, tax and other similar advice.

                9.         No Rights in Shareholders, etc. The Company
recognizes that Consultant has been engaged only by the Company, and that the
Company's engagement of Consultant is not deemed to be on behalf of and is not
intended to confer rights upon any shareholder, partner or other owner of the
Company or any other person not a party hereto as against Consultant or any of
its affiliates or any of their respective directors, officers, agents, employees
or representatives. Unless otherwise expressly agreed, no one other than the
Company is authorized to rely upon the Company's engagement of Consultant or any
statements, advice, opinions or conduct by Consultant. Without limiting the
foregoing, any opinions or advice rendered to the Company's Board of Directors
or management in the course of the Company's engagement of Consultant are for
the purpose of assisting the Board or management, as the case may be, in
evaluating the Transaction and do not constitute a recommendation to any
shareholder of the Company concerning action that such shareholder might or
should take in connection with the Transaction. Consultant's role herein is that
of an independent contractor; nothing herein is intended to create or shall be
construed as creating a fiduciary relationship between the Company and
Consultant.

               10.         No Waiver. The failure of any of the parties hereto
to enforce any provision hereof on any occasion shall not be deemed to be a
waiver of any preceding or succeeding breach of such provision or of any other
provision.

               11.         Entire Agreement. This Agreement constitutes the
entire Agreement and understanding of the parties hereto.

               12.         Amendments. No amendment, modification or waiver of
any provision herein shall be effective unless in writing, executed by each of
the parties hereto.

               13.         Governing Law; Jurisdiction. This Agreement shall be
construed, interpreted and enforced in accordance with and shall be governed by
the laws of the State of New York applicable to agreements made and to be
performed entirely therein. In the event that either Party hereto shall take
legal action to enforce any of the provisions of this Agreement, the Parties
agree that the exclusive jurisdiction for such legal action shall be the state
courts of New York or the federal courts residing in the State of New York.

               14.         Binding Effect. This Agreement shall bind and inure
to the benefit of the Parties, their successors and assigns.

               15.         Notices. Any notice under the provisions of this
Agreement shall be deemed given when received and shall be given by hand,
reputable overnight courier service or by registered or certified mail, return
receipt requested, directed to the addresses set forth above, unless notice of a
new address has been sent pursuant to the terms of this section.

               16.         Unenforceability;Severability. If any provision of
this Agreement is found to be void or unenforceable by a court of competent
jurisdiction, the remaining provisions of this Agreement shall, nevertheless, be
binding upon the Parties with the same force and effect as though the
unenforceable part had been severed and deleted.

               17.         Counterparts. This Agreement may be executed in one
or more counterparts, all of which shall be deemed to be duplicate originals.

         IN WITNESS WHEREOF, the Parties hereto have executed this instrument
the date first above written.

                                            SKYWAY COMMUNICATIONS HOLDING CORP.

                                            By: /s/ James Kent
                                            Name:   James Kent
                                            Title:  Chief Executive Officer

                                            CONSULTANT

                                            By: /s/ Michael D. Farkas
                                                    Michael D. Farkas

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE
SOLD, OFFERED FOR SALE OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR
AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS
IS AVAILABLE WITH RESPECT THERETO.

                               WARRANT TO PURCHASE
                            SHARES OF COMMON STOCK OF
                       SKYWAY COMMUNICATIONS HOLDING CORP.

                                                        Issue Date: July 1, 2003

Warrant No. CW-__                               2,000,000 Shares of Common Stock

1.       Issuance.  This Warrant is issued to Michael D. Farkas (the "Holder"),
by SKYWAY COMMUNICATIONS HOLDING CORP., a Florida corporation (hereinafter with
its successors called the "Company") pursuant to the Subscription Agreement of
even date herewith (the "Purchase Agreement"). Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to them in the
Purchase Agreement.

2.       Purchase Price; Number of Shares. This Warrant certifies that, for
value received, the Holder of this Warrant is entitled upon surrender of this
Warrant with the subscription form annexed hereto as Appendix 1 duly executed,
at the principal office of the Company, to purchase from the Company 2,000,000
fully paid and nonassessable shares of Common Stock of the Company (the "Common
Stock") at a price per share (the "Purchase Price") of $0.15, subject to
adjustment pursuant to Sections 7 and 8 below.

3.       Payment of Purchase Price. The Purchase Price may be paid (i) in cash
or by certified check or wire transfer, (ii) by the cancellation, surrender or
forgiveness by the Holder to the Company of any promissory notes or other
obligations issued by the Company, with all such notes and obligations so
surrendered being credited against the Purchase Price in an amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or
(iii) by any combination of the foregoing.

4.       Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the holder entitled to such fraction a sum in cash equal to such fraction
multiplied by the then effective Purchase Price.

5.       Exercise.

(a)      Expiration Date.  Subject to Section 5 (b) below, Holder's rights under
this Warrant expire at 5:00 p.m. Eastern Time on the second anniversary of the
date of this Warrant (the "Expiration Date") and shall be void thereafter. At
the Expiration Date, the portion of this Warrant not exercised prior thereto
shall be and become void and of no value. Subject to Section 5(b) below, the
Company may not call or redeem all or any portion of this Warrant without the
prior written consent of the Holder.

(b)      Company's Call Option. Notwithstanding anything herein to the contrary,
in the event the last sale price for the Company's Common Stock is in excess of
175% of the Exercise Price for a period of ten (10) consecutive trading days,
and this Warrant and the Common Stock underlying this Warrant have been
registered, the Company may, in its sole discretion, elect to change the
Expiration Date to 5:00 P.M., Eastern Time on the date fourteen (14) days after
written notice thereof is given to the Holder at the address last shown on the
records of the Company for the Holder or given by the Holder to the Company for
the purpose of notice.

(c)      Delivery. To effect conversions hereunder, the Holder shall not be
required to physically surrender this Warrant unless the aggregate shares
represented by this Warrant are being exercised. Upon delivery of the Form of
Election to Purchase to the Company (with the attached Shares Exercise Log) at
its address for notice set forth herein and upon payment of the Purchase Price
multiplied by the number of shares of Common Stock that the Holder intends to
purchase hereunder, the Company shall promptly (but in no event later than three
business days after the date of exercise) issue and deliver to the Holder, a
certificate for the shares of Common Stock issuable upon such exercise, which,
unless otherwise required by the Purchase Agreement, shall be free of
restrictive legends. The Company shall, upon request of the Holder and
subsequent to the date on which a registration statement covering the resale of
the shares of Common Stock has been declared effective by the Securities and
Exchange Commission, deliver shares of Common Stock electronically through the
Depository Trust Corporation or another established clearing corporation
performing similar functions, if available, provided, that, the Company may, but
will not be required to change its transfer agent if its current transfer agent
cannot deliver such shares electronically through the Depository Trust
Corporation.

(d)      Failure to Deliver. If by the third business day after a exercise of
the warrant, the Company fails to deliver the required number of shares of
Common Stock in the manner required pursuant to Section 5(c), and if after such
third business day and prior to the receipt of such shares, the Holder purchases
(in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by the Holder of the shares of Common Stock issuable
upon exercise of the Warrant ("Warrant Share") which the Holder anticipated
receiving upon such exercise (a "Buy In"), then the Company shall (1) pay in
cash to the Holder the amount by which (x) the Holder's total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so
purchased exceeds (y) the amount obtained by multiplying (A) the number of
Warrant Shares that the Company was required to deliver to the Holder in
connection with the exercise at issue by (B) the closing bid price of the Common
Stock at the time of the obligation giving rise to such purchase obligation and
(2) at the option of the Holder, either reinstate the portion of the Warrant and
equivalent number of Warrant Shares for which such exercise was not honored or
deliver to the Holder the number of shares of Common Stock that would have been
issued had the Company timely complied with its exercise and delivery
obligations hereunder. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy In.

(e)      Remedies. The Company's obligations to issue and deliver Warrant Shares
in accordance with the terms hereof are absolute and unconditional, irrespective
of any action or inaction by the Holder to enforce the same, any waiver or
consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged
breach by the Holder or any other Person of any obligation to the Company or any
violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance which might otherwise limit such
obligation of the Company to the Holder in connection with the issuance of
Warrant Shares. Nothing herein shall limit a Holder's right to pursue any other
remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with
respect to the Company's failure to timely deliver certificates representing
shares of Common Stock upon exercise of the Warrant as required pursuant to the
terms hereof. 6. Reserved Shares; Valid Issuance. The Company covenants that it
will at all times from and after the date hereof reserve and keep available such
number of its authorized shares of Common Stock of the Company, free from all
preemptive or similar rights therein, as will be sufficient to permit the
exercise of this Warrant in full. If at any time between the date hereof and the
Expiration Date, the number of authorized but unissued shares of Common Stock
shall not be sufficient to permit exercise of this Warrant, the Company will
take such corporate action as may be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient
for such purposes. The Company further covenants that such shares as may be
issued pursuant to such exercise will, upon issuance, be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issuance thereof. 7. Stock Splits and Dividends. If after
the date hereof the Company shall subdivide the Common Stock, by stock split or
otherwise, or combine the Common Stock, or issue additional shares of Common
Stock in payment of a stock dividend on the Common Stock, the number of shares
of Common Stock issuable on the exercise of this Warrant shall forthwith be
proportionately increased in the case of a subdivision or stock dividend, or
proportionately decreased in the case of a combination, and the Purchase Price
shall forthwith be proportionately decreased in the case of a subdivision or
stock dividend, or proportionately increased in the case of a combination. 8.
Mergers and Reclassifications. If after the date hereof the Company shall enter
into any Reorganization (as hereinafter defined), then, as a condition of such
Reorganization, lawful provisions shall be made, and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the
Holder, so that the Holder shall thereafter have the right to purchase, at a
total price not to exceed that payable upon the exercise of this Warrant in
full, the kind and amount of shares of stock and other securities and property
receivable upon such Reorganization by a holder of the number of shares of
Common Stock which might have been purchased by the Holder immediately prior to
such Reorganization, and in any such case appropriate provisions shall be made
with respect to the rights and interest of the Holder to the end that the
provisions hereof (including without limitation, provisions for the adjustment
of the Purchase Price and the number of shares issuable hereunder) shall
thereafter be applicable in relation to any shares of stock or other securities
and property thereafter deliverable upon exercise hereof. For the purposes of
this Section 8, the term "Reorganization" shall include without limitation any
reclassification, capital reorganization or change of the Common Stock (other
than as a result of a subdivision, combination or stock dividend provided for in
Section 7 hereof), or any consolidation of the Company with, or merger of the
Company into, another corporation or other business organization (other than a
merger in which the Company is the surviving corporation and which does not
result in any reclassification or change of the outstanding Common Stock), or
any sale or conveyance to another corporation or other business organization of
all or substantially all of the assets of the Company. 9. No Voting or Dividend
Rights. Nothing contained in this Warrant shall be construed as conferring upon
the Holder hereof the right to vote or to consent or to receive notice as a
shareholder of the Company or any other matters or any rights whatsoever as a
shareholder of the Company prior to the exercise of the Holder's rights to
purchase shares of Common Stock as provided for herein. No dividends or interest
shall be payable or accrued in respect of this Warrant or the interest
represented hereby or the shares purchasable hereunder until, and only to the
extent that, this Warrant shall have been exercised. 10. Amendment. The terms of
this Warrant may be amended, modified or waived only with the written consent of
the Holder. 11. Notices, Etc. Any notice, request or other communication
required or permitted hereunder shall be in writing and shall be deemed to have
been duly given (i) upon receipt if personally delivered, (ii) three (3) days
after being mailed by registered or certified mail, postage prepaid, or
(iii) one day after being sent by recognized overnight courier or by facsimile,
if to Holder, at 1680 Michigan Avenue, Suite 1000, Miami Florida, or at such
other address or number as Holder shall have furnished to Company in writing, or
if to Company, at 6021-142nd Avenue North, Clearwater, FL 33760 or at such other
address or number as Company shall have furnished to Holder in writing. 12.
Descriptive Headings and Governing Law. The descriptive headings of the several
sections and paragraphs of this Warrant are inserted for convenience only and do
not constitute a part of this Warrant. This Warrant and all actions arising out
of or in connection with this Warrant shall be governed by and construed in
accordance with the laws of the State of Florida, without regard to the
conflicts of law provisions of the State of Florida. 13. Successors and Assigns.
Holder may not sell, transfer or otherwise dispose of the Securities except in
accordance with the restrictions set out in the Purchase Agreement. The rights
and obligations of Company and Holder shall be binding upon and benefit the
successors, assigns, heirs, administrators and transferees of the parties.

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly
authorized officer.

Dated July 1, 2003                  SKYWAY COMMUNICATIONS HOLDING CORP.

                                    Name:
                                    Title:

                          FORM OF ELECTION TO PURCHASE

                                                        Date: _____________
SKYWAY COMMUNICATIONS HOLDING CORP.
6021-142nd Avenue North
Clearwater, FL 33760

Ladies and Gentlemen:

The undersigned hereby elects:

         ____ to exercise the warrant issued to it by SKYWAY COMMUNICATIONS
         HOLDING CORP. (the "Company") and dated June 27, 2003 (the "Warrant")
         and to purchase ____________ shares of the Common Stock of the Company
         (the "Shares") purchasable thereunder at a purchase price of
         _______________ ($____) per Share (the "Purchase Price") pursuant to
         the terms of the Warrant and the undersigned delivers the Purchase
         Price herewith in full in cash or by certified check or wire transfer
         or as otherwise permitted pursuant to Section 3 of the Warrant.

         The certificate(s) for such shares shall be issued in the name of the
         undersigned or as otherwise indicated below:

                                                            Very truly yours,

                                                           _____________________

                                  Exercise Log

_______________________ _______________________   _______________________   _______________________

          Date          Number of Warrant Shares  Number of Warrant Shares   Number of Warrant Shares
                        Available to be Exercised         Exercised         Remaining to be Exercised
_______________________ _______________________   _______________________   _______________________

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE
SOLD, OFFERED FOR SALE OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR
AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS
IS AVAILABLE WITH RESPECT THERETO.

                               WARRANT TO PURCHASE
                            SHARES OF COMMON STOCK OF
                       SKYWAY COMMUNICATIONS HOLDING CORP.

                                                        Issue Date: July 1, 2003

Warrant No. CW-__                               1,000,000 Shares of Common Stock

1.       Issuance.  This Warrant is issued to Michael D. Farkas (the "Holder"),
by SKYWAY COMMUNICATIONS HOLDING CORP., a Florida corporation (hereinafter with
its successors called the "Company") pursuant to the Subscription Agreement of
even date herewith (the "Purchase Agreement"). Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to them in the
Purchase Agreement.

2.       Purchase Price; Number of Shares. This Warrant certifies that, for
value received, the Holder of this Warrant is entitled upon surrender of this
Warrant with the subscription form annexed hereto as Appendix 1 duly executed,
at the principal office of the Company, to purchase from the Company 1,000,000
fully paid and nonassessable shares of Common Stock of the Company (the "Common
Stock") at a price per share (the "Purchase Price") of $0.55, subject to
adjustment pursuant to Sections 7 and 8 below.

3.       Payment of Purchase Price. The Purchase Price may be paid (i) in cash
or by certified check or wire transfer, (ii) by the cancellation, surrender or
forgiveness by the Holder to the Company of any promissory notes or other
obligations issued by the Company, with all such notes and obligations so
surrendered being credited against the Purchase Price in an amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or
(iii) by any combination of the foregoing.

4.       Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the holder entitled to such fraction a sum in cash equal to such fraction
multiplied by the then effective Purchase Price.

5.       Exercise.

(a)      Expiration Date. Subject to Section 5 (b) below, Holder's rights under
this Warrant expire at 5:00 p.m. Eastern Time on the second anniversary of the
date of this Warrant (the "Expiration Date") and shall be void thereafter. At
the Expiration Date, the portion of this Warrant not exercised prior thereto
shall be and become void and of no value. Subject to Section 5(b) below, the
Company may not call or redeem all or any portion of this Warrant without the
prior written consent of the Holder.

(b)      Company's Call Option. Notwithstanding anything herein to the contrary,
in the event the last sale price for the Company's Common Stock is in excess of
175% of the Exercise Price for a period of ten (10) consecutive trading days,
and this Warrant and the Common Stock underlying this Warrant have been
registered, the Company may, in its sole discretion, elect to change the
Expiration Date to 5:00 P.M., Eastern Time on the date fourteen (14) days after
written notice thereof is given to the Holder at the address last shown on the
records of the Company for the Holder or given by the Holder to the Company for
the purpose of notice.

(c)      Delivery. To effect conversions hereunder, the Holder shall not be
required to physically surrender this Warrant unless the aggregate shares
represented by this Warrant are being exercised. Upon delivery of the Form of
Election to Purchase to the Company (with the attached Shares Exercise Log) at
its address for notice set forth herein and upon payment of the Purchase Price
multiplied by the number of shares of Common Stock that the Holder intends to
purchase hereunder, the Company shall promptly (but in no event later than three
business days after the date of exercise) issue and deliver to the Holder, a
certificate for the shares of Common Stock issuable upon such exercise, which,
unless otherwise required by the Purchase Agreement, shall be free of
restrictive legends. The Company shall, upon request of the Holder and
subsequent to the date on which a registration statement covering the resale of
the shares of Common Stock has been declared effective by the Securities and
Exchange Commission, deliver shares of Common Stock electronically through the
Depository Trust Corporation or another established clearing corporation
performing similar functions, if available, provided, that, the Company may, but
will not be required to change its transfer agent if its current transfer agent
cannot deliver such shares electronically through the Depository Trust
Corporation.

(d)      Failure to Deliver. If by the third business day after a exercise of
the warrant, the Company fails to deliver the required number of shares of
Common Stock in the manner required pursuant to Section 5(c), and if after such
third business day and prior to the receipt of such shares, the Holder purchases
(in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by the Holder of the shares of Common Stock issuable
upon exercise of the Warrant ("Warrant Share") which the Holder anticipated
receiving upon such exercise (a "Buy In"), then the Company shall (1) pay in
cash to the Holder the amount by which (x) the Holder's total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so
purchased exceeds (y) the amount obtained by multiplying (A) the number of
Warrant Shares that the Company was required to deliver to the Holder in
connection with the exercise at issue by (B) the closing bid price of the Common
Stock at the time of the obligation giving rise to such purchase obligation and
(2) at the option of the Holder, either reinstate the portion of the Warrant and
equivalent number of Warrant Shares for which such exercise was not honored or
deliver to the Holder the number of shares of Common Stock that would have been
issued had the Company timely complied with its exercise and delivery
obligations hereunder. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy In.

(e)      Remedies. The Company's obligations to issue and deliver Warrant Shares
in accordance with the terms hereof are absolute and unconditional, irrespective
of any action or inaction by the Holder to enforce the same, any waiver or
consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged
breach by the Holder or any other Person of any obligation to the Company or any
violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance which might otherwise limit such
obligation of the Company to the Holder in connection with the issuance of
Warrant Shares. Nothing herein shall limit a Holder's right to pursue any other
remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with
respect to the Company's failure to timely deliver certificates representing
shares of Common Stock upon exercise of the Warrant as required pursuant to the
terms hereof.

6.       Reserved Shares; Valid Issuance. The Company covenants that it will at
all times from and after the date hereof reserve and keep available such number
of its authorized shares of Common Stock of the Company, free from all
preemptive or similar rights therein, as will be sufficient to permit the
exercise of this Warrant in full. If at any time between the date hereof and the
Expiration Date, the number of authorized but unissued shares of Common Stock
shall not be sufficient to permit exercise of this Warrant, the Company will
take such corporate action as may be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient
for such purposes. The Company further covenants that such shares as may be
issued pursuant to such exercise will, upon issuance, be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issuance thereof.

7.       Stock Splits and Dividends. If after the date hereof the Company shall
subdivide the Common Stock, by stock split or otherwise, or combine the Common
Stock, or issue additional shares of Common Stock in payment of a stock dividend
on the Common Stock, the number of shares of Common Stock issuable on the
exercise of this Warrant shall forthwith be proportionately increased in the
case of a subdivision or stock dividend, or proportionately decreased in the
case of a combination, and the Purchase Price shall forthwith be proportionately
decreased in the case of a subdivision or stock dividend, or proportionately
increased in the case of a combination.

8.       Mergers and Reclassifications. If after the date hereof the Company
shall enter into any Reorganization (as hereinafter defined), then, as a
condition of such Reorganization, lawful provisions shall be made, and duly
executed documents evidencing the same from the Company or its successor shall
be delivered to the Holder, so that the Holder shall thereafter have the right
to purchase, at a total price not to exceed that payable upon the exercise of
this Warrant in full, the kind and amount of shares of stock and other
securities and property receivable upon such Reorganization by a holder of the
number of shares of Common Stock which might have been purchased by the Holder
immediately prior to such Reorganization, and in any such case appropriate
provisions shall be made with respect to the rights and interest of the Holder
to the end that the provisions hereof (including without limitation, provisions
for the adjustment of the Purchase Price and the number of shares issuable
hereunder) shall thereafter be applicable in relation to any shares of stock or
other securities and property thereafter deliverable upon exercise hereof. For
the purposes of this Section 8, the term "Reorganization" shall include without
limitation any reclassification, capital reorganization or change of the Common
Stock (other than as a result of a subdivision, combination or stock dividend
provided for in Section 7 hereof), or any consolidation of the Company with, or
merger of the Company into, another corporation or other business organization
(other than a merger in which the Company is the surviving corporation and which
does not result in any reclassification or change of the outstanding Common
Stock), or any sale or conveyance to another corporation or other business
organization of all or substantially all of the assets of the Company.

9.       No Voting or Dividend Rights. Nothing contained in this Warrant shall
be construed as conferring upon the Holder hereof the right to vote or to
consent or to receive notice as a shareholder of the Company or any other
matters or any rights whatsoever as a shareholder of the Company prior to the
exercise of the Holder's rights to purchase shares of Common Stock as provided
for herein. No dividends or interest shall be payable or accrued in respect of
this Warrant or the interest represented hereby or the shares purchasable
hereunder until, and only to the extent that, this Warrant shall have been
exercised.

10.      Amendment. The terms of this Warrant may be amended, modified or waived
only with the written  consent of the Holder.

11.      Notices, Etc. Any notice, request or other communication required or
permitted hereunder shall be in writing and shall be deemed to have been duly
given (i) upon receipt if personally delivered, (ii) three (3) days after being
mailed by registered or certified mail, postage prepaid, or (iii) one day after
being sent by recognized overnight courier or by facsimile, if to Holder, at
1680 Michigan Avenue, Suite 1000, Miami Florida, or at such other address or
number as Holder shall have furnished to Company in writing, or if to Company,
at 6021-142nd Avenue North, Clearwater, FL 33760 or at such other address or
number as Company shall have furnished to Holder in writing.

12.      Descriptive Headings and Governing Law. The descriptive headings of the
several sections and paragraphs of this Warrant are inserted for convenience
only and do not constitute a part of this Warrant. This Warrant and all actions
arising out of or in connection with this Warrant shall be governed by and
construed in accordance with the laws of the State of Florida, without regard to
the conflicts of law provisions of the State of Florida.

13.      Successors and Assigns. Holder may not sell, transfer or otherwise
dispose of the Securities except in accordance with the restrictions set out in
the Purchase Agreement. The rights and obligations of Company and Holder shall
be binding upon and benefit the successors, assigns, heirs, administrators and
transferees of the parties.

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly
authorized officer.

Dated July 1, 2003                     SKYWAY COMMUNICATIONS HOLDING CORP.

                                       Name:
                                       Title:

                          FORM OF ELECTION TO PURCHASE

                                                            Date: _____________
SKYWAY COMMUNICATIONS HOLDING CORP.
6021-142nd Avenue North
Clearwater, FL 33760

Ladies and Gentlemen:

The undersigned hereby elects:

         ____ to exercise the warrant issued to it by SKYWAY COMMUNICATIONS
         HOLDING CORP. (the "Company") and dated June 27, 2003 (the "Warrant")
         and to purchase ____________ shares of the Common Stock of the Company
         (the "Shares") purchasable thereunder at a purchase price of
         _______________ ($____) per Share (the "Purchase Price") pursuant to
         the terms of the Warrant and the undersigned delivers the Purchase
         Price herewith in full in cash or by certified check or wire transfer
         or as otherwise permitted pursuant to Section 3 of the Warrant.

         The certificate(s) for such shares shall be issued in the name of the
         undersigned or as otherwise  indicated below:

                                                       Very truly yours,

                                                       _________________________

                                  Exercise Log

_______________________ _______________________   _______________________   _______________________

         Date          Number of Warrant Shares   Number of Warrant Shares  Number of Warrant Shares
                       Available to be Exercised        Exercised          Remaining to be Exercised
_______________________ _______________________   _______________________   _______________________

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE
SOLD, OFFERED FOR SALE OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR
AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS
IS AVAILABLE WITH RESPECT THERETO.

                               WARRANT TO PURCHASE
                            SHARES OF COMMON STOCK OF
                       SKYWAY COMMUNICATIONS HOLDING CORP.

                                                        Issue Date: July 1, 2003

Warrant No. CW-__                               1,000,000 Shares of Common Stock

1.       Issuance. This Warrant is issued to Michael D. Farkas (the "Holder"),
by SKYWAY COMMUNICATIONS HOLDING CORP., a Florida corporation (hereinafter with
its successors called the "Company") pursuant to the Subscription Agreement of
even date herewith (the "Purchase Agreement"). Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to them in the
Purchase Agreement.

2.       Purchase Price; Number of Shares. This Warrant certifies that, for
value received, the Holder of this Warrant is entitled upon surrender of this
Warrant with the subscription form annexed hereto as Appendix 1 duly executed,
at the principal office of the Company, to purchase from the Company 1,000,000
fully paid and nonassessable shares of Common Stock of the Company (the "Common
Stock") at a price per share (the "Purchase Price") of $0.30, subject to
adjustment pursuant to Sections 7 and 8 below.

3.       Payment of Purchase Price. The Purchase Price may be paid (i) in cash
or by certified check or wire transfer, (ii) by the cancellation, surrender or
forgiveness by the Holder to the Company of any promissory notes or other
obligations issued by the Company, with all such notes and obligations so
surrendered being credited against the Purchase Price in an amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or
(iii) by any combination of the foregoing.

4.       Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the holder entitled to such fraction a sum in cash equal to such fraction
multiplied by the then effective Purchase Price.

5.       Exercise.

(a)      Expiration Date. Subject to Section 5 (b) below, Holder's rights under
this Warrant expire at 5:00 p.m. Eastern Time on the second anniversary of the
date of this Warrant (the "Expiration Date") and shall be void thereafter. At
the Expiration Date, the portion of this Warrant not exercised prior thereto
shall be and become void and of no value. Subject to Section 5(b) below, the
Company may not call or redeem all or any portion of this Warrant without the
prior written consent of the Holder.

(b)      Company's Call Option. Notwithstanding anything herein to the contrary,
in the event the last sale price for the Company's Common Stock is in excess of
175% of the Exercise Price for a period of ten (10) consecutive trading days,
and this Warrant and the Common Stock underlying this Warrant have been
registered, the Company may, in its sole discretion, elect to change the
Expiration Date to 5:00 P.M., Eastern Time on the date fourteen (14) days after
written notice thereof is given to the Holder at the address last shown on the
records of the Company for the Holder or given by the Holder to the Company for
the purpose of notice.

(c)      Delivery. To effect conversions hereunder, the Holder shall not be
required to physically surrender this Warrant unless the aggregate shares
represented by this Warrant are being exercised. Upon delivery of the Form of
Election to Purchase to the Company (with the attached Shares Exercise Log) at
its address for notice set forth herein and upon payment of the Purchase Price
multiplied by the number of shares of Common Stock that the Holder intends to
purchase hereunder, the Company shall promptly (but in no event later than three
business days after the date of exercise) issue and deliver to the Holder, a
certificate for the shares of Common Stock issuable upon such exercise, which,
unless otherwise required by the Purchase Agreement, shall be free of
restrictive legends. The Company shall, upon request of the Holder and
subsequent to the date on which a registration statement covering the resale of
the shares of Common Stock has been declared effective by the Securities and
Exchange Commission, deliver shares of Common Stock electronically through the
Depository Trust Corporation or another established clearing corporation
performing similar functions, if available, provided, that, the Company may, but
will not be required to change its transfer agent if its current transfer agent
cannot deliver such shares electronically through the Depository Trust
Corporation.

(d)      Failure to Deliver. If by the third business day after a exercise of
the warrant, the Company fails to deliver the required number of shares of
Common Stock in the manner required pursuant to Section 5(c), and if after such
third business day and prior to the receipt of such shares, the Holder purchases
(in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by the Holder of the shares of Common Stock issuable
upon exercise of the Warrant ("Warrant Share") which the Holder anticipated
receiving upon such exercise (a "Buy In"), then the Company shall (1) pay in
cash to the Holder the amount by which (x) the Holder's total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so
purchased exceeds (y) the amount obtained by multiplying (A) the number of
Warrant Shares that the Company was required to deliver to the Holder in
connection with the exercise at issue by (B) the closing bid price of the Common
Stock at the time of the obligation giving rise to such purchase obligation and
(2) at the option of the Holder, either reinstate the portion of the Warrant and
equivalent number of Warrant Shares for which such exercise was not honored or
deliver to the Holder the number of shares of Common Stock that would have been
issued had the Company timely complied with its exercise and delivery
obligations hereunder. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy In.

(e)      Remedies. The Company's obligations to issue and deliver Warrant Shares
in accordance with the terms hereof are absolute and unconditional, irrespective
of any action or inaction by the Holder to enforce the same, any waiver or
consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged
breach by the Holder or any other Person of any obligation to the Company or any
violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance which might otherwise limit such
obligation of the Company to the Holder in connection with the issuance of
Warrant Shares. Nothing herein shall limit a Holder's right to pursue any other
remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with
respect to the Company's failure to timely deliver certificates representing
shares of Common Stock upon exercise of the Warrant as required pursuant to the
terms hereof.

6.       Reserved Shares; Valid Issuance. The Company covenants that it will at
all times from and after the date hereof reserve and keep available such number
of its authorized shares of Common Stock of the Company, free from all
preemptive or similar rights therein, as will be sufficient to permit the
exercise of this Warrant in full. If at any time between the date hereof and the
Expiration Date, the number of authorized but unissued shares of Common Stock
shall not be sufficient to permit exercise of this Warrant, the Company will
take such corporate action as may be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient
for such purposes. The Company further covenants that such shares as may be
issued pursuant to such exercise will, upon issuance, be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issuance thereof.

7.       Stock Splits and Dividends. If after the date hereof the Company shall
subdivide the Common Stock, by stock split or otherwise, or combine the Common
Stock, or issue additional shares of Common Stock in payment of a stock dividend
on the Common Stock, the number of shares of Common Stock issuable on the
exercise of this Warrant shall forthwith be proportionately increased in the
case of a subdivision or stock dividend, or proportionately decreased in the
case of a combination, and the Purchase Price shall forthwith be proportionately
decreased in the case of a subdivision or stock dividend, or proportionately
increased in the case of a combination.

8.       Mergers and Reclassifications. If after the date hereof the Company
shall enter into any Reorganization (as hereinafter defined), then, as a
condition of such Reorganization, lawful provisions shall be made, and duly
executed documents evidencing the same from the Company or its successor shall
be delivered to the Holder, so that the Holder shall thereafter have the right
to purchase, at a total price not to exceed that payable upon the exercise of
this Warrant in full, the kind and amount of shares of stock and other
securities and property receivable upon such Reorganization by a holder of the
number of shares of Common Stock which might have been purchased by the Holder
immediately prior to such Reorganization, and in any such case appropriate
provisions shall be made with respect to the rights and interest of the Holder
to the end that the provisions hereof (including without limitation, provisions
for the adjustment of the Purchase Price and the number of shares issuable
hereunder) shall thereafter be applicable in relation to any shares of stock or
other securities and property thereafter deliverable upon exercise hereof. For
the purposes of this Section 8, the term "Reorganization" shall include without
limitation any reclassification, capital reorganization or change of the Common
Stock (other than as a result of a subdivision, combination or stock dividend
provided for in Section 7 hereof), or any consolidation of the Company with, or
merger of the Company into, another corporation or other business organization
(other than a merger in which the Company is the surviving corporation and which
does not result in any reclassification or change of the outstanding Common
Stock), or any sale or conveyance to another corporation or other business
organization of all or substantially all of the assets of the Company.

9.       No Voting or Dividend Rights. Nothing contained in this Warrant shall
be construed as conferring upon the Holder hereof the right to vote or to
consent or to receive notice as a shareholder of the Company or any other
matters or any rights whatsoever as a shareholder of the Company prior to the
exercise of the Holder's rights to purchase shares of Common Stock as provided
for herein. No dividends or interest shall be payable or accrued in respect of
this Warrant or the interest represented hereby or the shares purchasable
hereunder until, and only to the extent that, this Warrant shall have been
exercised.

10.      Amendment. The terms of this Warrant may be amended, modified or waived
only with the written  consent of the Holder.

11.      Notices, Etc. Any notice, request or other communication required or
permitted hereunder shall be in writing and shall be deemed to have been duly
given (i) upon receipt if personally delivered, (ii) three (3) days after being
mailed by registered or certified mail, postage prepaid, or (iii) one day after
being sent by recognized overnight courier or by facsimile, if to Holder, at
1680 Michigan Avenue, Suite 1000, Miami Florida, or at such other address or
number as Holder shall have furnished to Company in writing, or if to Company,
at 6021-142nd Avenue North, Clearwater, FL 33760 or at such other address or
number as Company shall have furnished to Holder in writing.

12.      Descriptive Headings and Governing Law. The descriptive headings of the
several sections and paragraphs of this Warrant are inserted for convenience
only and do not constitute a part of this Warrant. This Warrant and all actions
arising out of or in connection with this Warrant shall be governed by and
construed in accordance with the laws of the State of Florida, without regard to
the conflicts of law provisions of the State of Florida.

13.      Successors and Assigns. Holder may not sell, transfer or otherwise
dispose of the Securities except in accordance with the restrictions set out in
the Purchase Agreement. The rights and obligations of Company and Holder shall
be binding upon and benefit the successors, assigns, heirs, administrators and
transferees of the parties.

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly
authorized officer.

Dated July 1, 2003                    SKYWAY COMMUNICATIONS HOLDING CORP.

                                      Name:

                                      Title:

                          FORM OF ELECTION TO PURCHASE

                                                          Date: _____________
SKYWAY COMMUNICATIONS HOLDING CORP.
6021-142nd Avenue North
Clearwater, FL 33760

Ladies and Gentlemen:

The undersigned hereby elects:

         ____ to exercise the warrant issued to it by SKYWAY COMMUNICATIONS
         HOLDING CORP. (the "Company") and dated June 27, 2003 (the "Warrant")
         and to purchase ____________ shares of the Common Stock of the Company
         (the "Shares") purchasable thereunder at a purchase price of
         _______________ ($____) per Share (the "Purchase Price") pursuant to
         the terms of the Warrant and the undersigned delivers the Purchase
         Price herewith in full in cash or by certified check or wire transfer
         or as otherwise permitted pursuant to Section 3 of the Warrant.

         The certificate(s) for such shares shall be issued in the name of the
         undersigned or as otherwise  indicated below:

                                                       Very truly yours,

                                                        _______________________

                                                     Exercise Log

_______________________ _______________________   _______________________   _______________________

         Date          Number of Warrant Shares   Number of Warrant Shares  Number of Warrant Shares
                       Available to be Exercised        Exercised          Remaining to be Exercised
_______________________ _______________________   _______________________   _______________________

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE
SOLD, OFFERED FOR SALE OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR
AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS
IS AVAILABLE WITH RESPECT THERETO.

                               WARRANT TO PURCHASE
                            SHARES OF COMMON STOCK OF
                       SKYWAY COMMUNICATIONS HOLDING CORP.

                                                        Issue Date: July 1, 2003

Warrant No. CW-__                               1,000,000 Shares of Common Stock

1.       Issuance. This Warrant is issued to Michael D. Farkas (the "Holder"),
by SKYWAY COMMUNICATIONS HOLDING CORP., a Florida corporation (hereinafter with
its successors called the "Company") pursuant to the Subscription Agreement of
even date herewith (the "Purchase Agreement"). Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to them in the
Purchase Agreement.

2.       Purchase Price; Number of Shares. This Warrant certifies that, for
value received, the Holder of this Warrant is entitled upon surrender of this
Warrant with the subscription form annexed hereto as Appendix 1 duly executed,
at the principal office of the Company, to purchase from the Company 1,000,000
fully paid and nonassessable shares of Common Stock of the Company (the "Common
Stock") at a price per share (the "Purchase Price") of $1.00, subject to
adjustment pursuant to Sections 7 and 8 below.

3.       Payment of Purchase Price. The Purchase Price may be paid (i) in cash
or by certified check or wire transfer, (ii) by the cancellation, surrender or
forgiveness by the Holder to the Company of any promissory notes or other
obligations issued by the Company, with all such notes and obligations so
surrendered being credited against the Purchase Price in an amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or
(iii) by any combination of the foregoing.

4.       Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the holder entitled to such fraction a sum in cash equal to such fraction
multiplied by the then effective Purchase Price.

5.       Exercise.

(a)      Expiration Date. Subject to Section 5 (b) below, Holder's rights under
this Warrant expire at 5:00 p.m. Eastern Time on the second anniversary of the
date of this Warrant (the "Expiration Date") and shall be void thereafter. At
the Expiration Date, the portion of this Warrant not exercised prior thereto
shall be and become void and of no value. Subject to Section 5(b) below, the
Company may not call or redeem all or any portion of this Warrant without the
prior written consent of the Holder.

(b)      Company's Call Option. Notwithstanding anything herein to the contrary,
in the event the last sale price for the Company's Common Stock is in excess of
175% of the Exercise Price for a period of ten (10) consecutive trading days,
and this Warrant and the Common Stock underlying this Warrant have been
registered, the Company may, in its sole discretion, elect to change the
Expiration Date to 5:00 P.M., Eastern Time on the date fourteen (14) days after
written notice thereof is given to the Holder at the address last shown on the
records of the Company for the Holder or given by the Holder to the Company for
the purpose of notice.

(c)      Delivery. To effect conversions hereunder, the Holder shall not be
required to physically surrender this Warrant unless the aggregate shares
represented by this Warrant are being exercised. Upon delivery of the Form of
Election to Purchase to the Company (with the attached Shares Exercise Log) at
its address for notice set forth herein and upon payment of the Purchase Price
multiplied by the number of shares of Common Stock that the Holder intends to
purchase hereunder, the Company shall promptly (but in no event later than three
business days after the date of exercise) issue and deliver to the Holder, a
certificate for the shares of Common Stock issuable upon such exercise, which,
unless otherwise required by the Purchase Agreement, shall be free of
restrictive legends. The Company shall, upon request of the Holder and
subsequent to the date on which a registration statement covering the resale of
the shares of Common Stock has been declared effective by the Securities and
Exchange Commission, deliver shares of Common Stock electronically through the
Depository Trust Corporation or another established clearing corporation
performing similar functions, if available, provided, that, the Company may, but
will not be required to change its transfer agent if its current transfer agent
cannot deliver such shares electronically through the Depository Trust
Corporation.

(d)      Failure to Deliver. If by the third business day after a exercise of
the warrant, the Company fails to deliver the required number of shares of
Common Stock in the manner required pursuant to Section 5(c), and if after such
third business day and prior to the receipt of such shares, the Holder purchases
(in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by the Holder of the shares of Common Stock issuable
upon exercise of the Warrant ("Warrant Share") which the Holder anticipated
receiving upon such exercise (a "Buy In"), then the Company shall (1) pay in
cash to the Holder the amount by which (x) the Holder's total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so
purchased exceeds (y) the amount obtained by multiplying (A) the number of
Warrant Shares that the Company was required to deliver to the Holder in
connection with the exercise at issue by (B) the closing bid price of the Common
Stock at the time of the obligation giving rise to such purchase obligation and
(2) at the option of the Holder, either reinstate the portion of the Warrant and
equivalent number of Warrant Shares for which such exercise was not honored or
deliver to the Holder the number of shares of Common Stock that would have been
issued had the Company timely complied with its exercise and delivery
obligations hereunder. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy In.

(e)      Remedies. The Company's obligations to issue and deliver Warrant Shares
in accordance with the terms hereof are absolute and unconditional, irrespective
of any action or inaction by the Holder to enforce the same, any waiver or
consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged
breach by the Holder or any other Person of any obligation to the Company or any
violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance which might otherwise limit such
obligation of the Company to the Holder in connection with the issuance of
Warrant Shares. Nothing herein shall limit a Holder's right to pursue any other
remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with
respect to the Company's failure to timely deliver certificates representing
shares of Common Stock upon exercise of the Warrant as required pursuant to the
terms hereof. 6. Reserved Shares; Valid Issuance. The Company covenants that it
will at all times from and after the date hereof reserve and keep available such
number of its authorized shares of Common Stock of the Company, free from all
preemptive or similar rights therein, as will be sufficient to permit the
exercise of this Warrant in full. If at any time between the date hereof and the
Expiration Date, the number of authorized but unissued shares of Common Stock
shall not be sufficient to permit exercise of this Warrant, the Company will
take such corporate action as may be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient
for such purposes. The Company further covenants that such shares as may be
issued pursuant to such exercise will, upon issuance, be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issuance thereof. 7. Stock Splits and Dividends. If after
the date hereof the Company shall subdivide the Common Stock, by stock split or
otherwise, or combine the Common Stock, or issue additional shares of Common
Stock in payment of a stock dividend on the Common Stock, the number of shares
of Common Stock issuable on the exercise of this Warrant shall forthwith be
proportionately increased in the case of a subdivision or stock dividend, or
proportionately decreased in the case of a combination, and the Purchase Price
shall forthwith be proportionately decreased in the case of a subdivision or
stock dividend, or proportionately increased in the case of a combination. 8.
Mergers and Reclassifications. If after the date hereof the Company shall enter
into any Reorganization (as hereinafter defined), then, as a condition of such
Reorganization, lawful provisions shall be made, and duly executed documents
evidencing the same from the Company or its successor shall be delivered to the
Holder, so that the Holder shall thereafter have the right to purchase, at a
total price not to exceed that payable upon the exercise of this Warrant in
full, the kind and amount of shares of stock and other securities and property
receivable upon such Reorganization by a holder of the number of shares of
Common Stock which might have been purchased by the Holder immediately prior to
such Reorganization, and in any such case appropriate provisions shall be made
with respect to the rights and interest of the Holder to the end that the
provisions hereof (including without limitation, provisions for the adjustment
of the Purchase Price and the number of shares issuable hereunder) shall
thereafter be applicable in relation to any shares of stock or other securities
and property thereafter deliverable upon exercise hereof. For the purposes of
this Section 8, the term "Reorganization" shall include without limitation any
reclassification, capital reorganization or change of the Common Stock (other
than as a result of a subdivision, combination or stock dividend provided for in
Section 7 hereof), or any consolidation of the Company with, or merger of the
Company into, another corporation or other business organization (other than a
merger in which the Company is the surviving corporation and which does not
result in any reclassification or change of the outstanding Common Stock), or
any sale or conveyance to another corporation or other business organization of
all or substantially all of the assets of the Company. 9. No Voting or Dividend
Rights. Nothing contained in this Warrant shall be construed as conferring upon
the Holder hereof the right to vote or to consent or to receive notice as a
shareholder of the Company or any other matters or any rights whatsoever as a
shareholder of the Company prior to the exercise of the Holder's rights to
purchase shares of Common Stock as provided for herein. No dividends or interest
shall be payable or accrued in respect of this Warrant or the interest
represented hereby or the shares purchasable hereunder until, and only to the
extent that, this Warrant shall have been exercised. 10. Amendment. The terms of
this Warrant may be amended, modified or waived only with the written consent of
the Holder. 11. Notices, Etc. Any notice, request or other communication
required or permitted hereunder shall be in writing and shall be deemed to have
been duly given (i) upon receipt if personally delivered, (ii) three (3) days
after being mailed by registered or certified mail, postage prepaid, or
(iii) one day after being sent by recognized overnight courier or by facsimile,
if to Holder, at 1680 Michigan Avenue, Suite 1000, Miami Florida, or at such
other address or number as Holder shall have furnished to Company in writing, or
if to Company, at 6021-142nd Avenue North, Clearwater, FL 33760 or at such other
address or number as Company shall have furnished to Holder in writing. 12.
Descriptive Headings and Governing Law. The descriptive headings of the several
sections and paragraphs of this Warrant are inserted for convenience only and do
not constitute a part of this Warrant. This Warrant and all actions arising out
of or in connection with this Warrant shall be governed by and construed in
accordance with the laws of the State of Florida, without regard to the
conflicts of law provisions of the State of Florida. 13. Successors and Assigns.
Holder may not sell, transfer or otherwise dispose of the Securities except in
accordance with the restrictions set out in the Purchase Agreement. The rights
and obligations of Company and Holder shall be binding upon and benefit the
successors, assigns, heirs, administrators and transferees of the parties.

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly
authorized officer.

Dated July 1, 2003                 SKYWAY COMMUNICATIONS HOLDING CORP.

                                   Name:

                                   Title:

                          FORM OF ELECTION TO PURCHASE

                                                             Date: _____________
SKYWAY COMMUNICATIONS HOLDING CORP.
6021-142nd Avenue North
Clearwater, FL 33760

Ladies and Gentlemen:

The undersigned hereby elects:

         ____ to exercise the warrant issued to it by SKYWAY COMMUNICATIONS
         HOLDING CORP. (the "Company") and dated June 27, 2003 (the "Warrant")
         and to purchase ____________ shares of the Common Stock of the Company
         (the "Shares") purchasable thereunder at a purchase price of
         _______________ ($____) per Share (the "Purchase Price") pursuant to
         the terms of the Warrant and the undersigned delivers the Purchase
         Price herewith in full in cash or by certified check or wire transfer
         or as otherwise permitted pursuant to Section 3 of the Warrant.

         The certificate(s) for such shares shall be issued in the name of the
         undersigned or as otherwise indicated below:

                                                       Very truly yours,

                                                        __________________________

                                  Exercise Log

_______________________ _______________________   _______________________   _______________________

         Date          Number of Warrant Shares   Number of Warrant Shares  Number of Warrant Shares
                       Available to be Exercised        Exercised          Remaining to be Exercised
_______________________ _______________________   _______________________   _______________________

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE
SOLD, OFFERED FOR SALE OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN
ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR
AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS
IS AVAILABLE WITH RESPECT THERETO.

                               WARRANT TO PURCHASE
                            SHARES OF COMMON STOCK OF
                       SKYWAY COMMUNICATIONS HOLDING CORP.

                                                        Issue Date: July 1, 2003

Warrant No. CW-__                               1,000,000 Shares of Common Stock

1.       Issuance. This Warrant is issued to Michael D. Farkas (the "Holder"),
by SKYWAY COMMUNICATIONS HOLDING CORP., a Florida corporation (hereinafter with
its successors called the "Company") pursuant to the Subscription Agreement of
even date herewith (the "Purchase Agreement"). Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to them in the
Purchase Agreement.

2.       Purchase Price; Number of Shares. This Warrant certifies that, for
value received, the Holder of this Warrant is entitled upon surrender of this
Warrant with the subscription form annexed hereto as Appendix 1 duly executed,
at the principal office of the Company, to purchase from the Company 1,000,000
fully paid and nonassessable shares of Common Stock of the Company (the "Common
Stock") at a price per share (the "Purchase Price") of $1.10, subject to
adjustment pursuant to Sections 7 and 8 below.

3.       Payment of Purchase Price. The Purchase Price may be paid (i) in cash
or by certified check or wire transfer, (ii) by the cancellation, surrender or
forgiveness by the Holder to the Company of any promissory notes or other
obligations issued by the Company, with all such notes and obligations so
surrendered being credited against the Purchase Price in an amount equal to the
principal amount thereof plus accrued interest to the date of surrender, or
(iii) by any combination of the foregoing.

4.       Fractional Shares. No fractional shares shall be issued upon exercise
of this Warrant. The Company shall, in lieu of issuing any fractional share, pay
the holder entitled to such fraction a sum in cash equal to such fraction
multiplied by the then effective Purchase Price.

5.       Exercise.

(a)      Expiration Date. Subject to Section 5 (b) below, Holder's rights under
this Warrant expire at 5:00 p.m. Eastern Time on the second anniversary of the
date of this Warrant (the "Expiration Date") and shall be void thereafter. At
the Expiration Date, the portion of this Warrant not exercised prior thereto
shall be and become void and of no value. Subject to Section 5(b) below, the
Company may not call or redeem all or any portion of this Warrant without the
prior written consent of the Holder.

(b)      Company's Call Option. Notwithstanding anything herein to the contrary,
in the event the last sale price for the Company's Common Stock is in excess of
175% of the Exercise Price for a period of ten (10) consecutive trading days,
and this Warrant and the Common Stock underlying this Warrant have been
registered, the Company may, in its sole discretion, elect to change the
Expiration Date to 5:00 P.M., Eastern Time on the date fourteen (14) days after
written notice thereof is given to the Holder at the address last shown on the
records of the Company for the Holder or given by the Holder to the Company for
the purpose of notice.

(c)      Delivery. To effect conversions hereunder, the Holder shall not be
required to physically surrender this Warrant unless the aggregate shares
represented by this Warrant are being exercised. Upon delivery of the Form of
Election to Purchase to the Company (with the attached Shares Exercise Log) at
its address for notice set forth herein and upon payment of the Purchase Price
multiplied by the number of shares of Common Stock that the Holder intends to
purchase hereunder, the Company shall promptly (but in no event later than three
business days after the date of exercise) issue and deliver to the Holder, a
certificate for the shares of Common Stock issuable upon such exercise, which,
unless otherwise required by the Purchase Agreement, shall be free of
restrictive legends. The Company shall, upon request of the Holder and
subsequent to the date on which a registration statement covering the resale of
the shares of Common Stock has been declared effective by the Securities and
Exchange Commission, deliver shares of Common Stock electronically through the
Depository Trust Corporation or another established clearing corporation
performing similar functions, if available, provided, that, the Company may, but
will not be required to change its transfer agent if its current transfer agent
cannot deliver such shares electronically through the Depository Trust
Corporation.

(d)      Failure to Deliver. If by the third business day after a exercise of
the warrant, the Company fails to deliver the required number of shares of
Common Stock in the manner required pursuant to Section 5(c), and if after such
third business day and prior to the receipt of such shares, the Holder purchases
(in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by the Holder of the shares of Common Stock issuable
upon exercise of the Warrant ("Warrant Share") which the Holder anticipated
receiving upon such exercise (a "Buy In"), then the Company shall (1) pay in
cash to the Holder the amount by which (x) the Holder's total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so
purchased exceeds (y) the amount obtained by multiplying (A) the number of
Warrant Shares that the Company was required to deliver to the Holder in
connection with the exercise at issue by (B) the closing bid price of the Common
Stock at the time of the obligation giving rise to such purchase obligation and
(2) at the option of the Holder, either reinstate the portion of the Warrant and
equivalent number of Warrant Shares for which such exercise was not honored or
deliver to the Holder the number of shares of Common Stock that would have been
issued had the Company timely complied with its exercise and delivery
obligations hereunder. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy In.

(e)      Remedies. The Company's obligations to issue and deliver Warrant Shares
in accordance with the terms hereof are absolute and unconditional, irrespective
of any action or inaction by the Holder to enforce the same, any waiver or
consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged
breach by the Holder or any other Person of any obligation to the Company or any
violation or alleged violation of law by the Holder or any other Person, and
irrespective of any other circumstance which might otherwise limit such
obligation of the Company to the Holder in connection with the issuance of
Warrant Shares. Nothing herein shall limit a Holder's right to pursue any other
remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with
respect to the Company's failure to timely deliver certificates representing
shares of Common Stock upon exercise of the Warrant as required pursuant to the
terms hereof.

6.       Reserved Shares; Valid Issuance. The Company covenants that it will at
all times from and after the date hereof reserve and keep available such number
of its authorized shares of Common Stock of the Company, free from all
preemptive or similar rights therein, as will be sufficient to permit the
exercise of this Warrant in full. If at any time between the date hereof and the
Expiration Date, the number of authorized but unissued shares of Common Stock
shall not be sufficient to permit exercise of this Warrant, the Company will
take such corporate action as may be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient
for such purposes. The Company further covenants that such shares as may be
issued pursuant to such exercise will, upon issuance, be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens and charges
with respect to the issuance thereof.

7.       Stock Splits and Dividends. If after the date hereof the Company shall
subdivide the Common Stock, by stock split or otherwise, or combine the Common
Stock, or issue additional shares of Common Stock in payment of a stock dividend
on the Common Stock, the number of shares of Common Stock issuable on the
exercise of this Warrant shall forthwith be proportionately increased in the
case of a subdivision or stock dividend, or proportionately decreased in the
case of a combination, and the Purchase Price shall forthwith be proportionately
decreased in the case of a subdivision or stock dividend, or proportionately
increased in the case of a combination.

8.       Mergers and Reclassifications. If after the date hereof the Company
shall enter into any Reorganization (as hereinafter defined), then, as a
condition of such Reorganization, lawful provisions shall be made, and duly
executed documents evidencing the same from the Company or its successor shall
be delivered to the Holder, so that the Holder shall thereafter have the right
to purchase, at a total price not to exceed that payable upon the exercise of
this Warrant in full, the kind and amount of shares of stock and other
securities and property receivable upon such Reorganization by a holder of the
number of shares of Common Stock which might have been purchased by the Holder
immediately prior to such Reorganization, and in any such case appropriate
provisions shall be made with respect to the rights and interest of the Holder
to the end that the provisions hereof (including without limitation, provisions
for the adjustment of the Purchase Price and the number of shares issuable
hereunder) shall thereafter be applicable in relation to any shares of stock or
other securities and property thereafter deliverable upon exercise hereof. For
the purposes of this Section 8, the term "Reorganization" shall include without
limitation any reclassification, capital reorganization or change of the Common
Stock (other than as a result of a subdivision, combination or stock dividend
provided for in Section 7 hereof), or any consolidation of the Company with, or
merger of the Company into, another corporation or other business organization
(other than a merger in which the Company is the surviving corporation and which
does not result in any reclassification or change of the outstanding Common
Stock), or any sale or conveyance to another corporation or other business
organization of all or substantially all of the assets of the Company.

9.       No Voting or Dividend Rights. Nothing contained in this Warrant shall
be construed as conferring upon the Holder hereof the right to vote or to
consent or to receive notice as a shareholder of the Company or any other
matters or any rights whatsoever as a shareholder of the Company prior to the
exercise of the Holder's rights to purchase shares of Common Stock as provided
for herein. No dividends or interest shall be payable or accrued in respect of
this Warrant or the interest represented hereby or the shares purchasable
hereunder until, and only to the extent that, this Warrant shall have been
exercised.

10.      Amendment. The terms of this Warrant may be amended, modified or waived
only with the written consent of the Holder.

11.      Notices, Etc. Any notice, request or other communication required or
permitted hereunder shall be in writing and shall be deemed to have been duly
given (i) upon receipt if personally delivered, (ii) three (3) days after being
mailed by registered or certified mail, postage prepaid, or (iii) one day after
being sent by recognized overnight courier or by facsimile, if to Holder, at
1680 Michigan Avenue, Suite 1000, Miami Florida, or at such other address or
number as Holder shall have furnished to Company in writing, or if to Company,
at 6021-142nd Avenue North, Clearwater, FL 33760 or at such other address or
number as Company shall have furnished to Holder in writing.

12.      Descriptive Headings and Governing Law. The descriptive headings of the
several sections and paragraphs of this Warrant are inserted for convenience
only and do not constitute a part of this Warrant. This Warrant and all actions
arising out of or in connection with this Warrant shall be governed by and
construed in accordance with the laws of the State of Florida, without regard to
the conflicts of law provisions of the State of Florida.

13.      Successors and Assigns. Holder may not sell, transfer or otherwise
dispose of the Securities except in accordance with the restrictions set out in
the Purchase Agreement. The rights and obligations of Company and Holder shall
be binding upon and benefit the successors, assigns, heirs, administrators and
transferees of the parties.

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly
authorized officer.

Dated July 1, 2003                   SKYWAY COMMUNICATIONS HOLDING CORP.

                                     Name:

                                     Title:

                          FORM OF ELECTION TO PURCHASE

                                                             Date: _____________
SKYWAY COMMUNICATIONS HOLDING CORP.
6021-142nd Avenue North
Clearwater, FL 33760

Ladies and Gentlemen:

The undersigned hereby elects:

         ____ to exercise the warrant issued to it by SKYWAY COMMUNICATIONS
         HOLDING CORP. (the "Company") and dated June 27, 2003 (the "Warrant")
         and to purchase ____________ shares of the Common Stock of the Company
         (the "Shares") purchasable thereunder at a purchase price of
         ______________ ($____) per Share (the "Purchase Price") pursuant to the
         terms of the Warrant and the undersigned delivers the Purchase Price
         herewith in full in cash or by certified check or wire transfer or as
         otherwise permitted pursuant to Section 3 of the Warrant.

         The certificate(s) for such shares shall be issued in the name of the
         undersigned or as otherwise  indicated below:

                                                       Very truly yours,

                                                        _______________________

                                  Exercise Log

_______________________ _______________________   _______________________   _______________________

         Date          Number of Warrant Shares   Number of Warrant Shares  Number of Warrant Shares
                       Available to be Exercised        Exercised          Remaining to be Exercised
_______________________ _______________________   _______________________   _______________________

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