Document:

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EXHIBIT 4.4

      CERTIFICATE OF AMENDMENT TO ARTICLES OF INCORPORATION DESIGNATION OF
         SERIES D CONVERTIBLE PREFERRED STOCK OF NEW VISUAL CORPORATION

         New Visual Corporation, a Utah corporation (the "Corporation"), hereby
certifies that the following resolution was adopted by the Board of Directors of
the Corporation as required by Section 16-10a-602 of the Utah Revised Business
Corporation Act (the "Act"). The resolution was adopted by the Board of
Directors by unanimous written consent as of June 5, 2003. Shareholder approval
was not required. This amendment creates the Series D Convertible Preferred
Stock of the Corporation, and designates the preferences, limitations and rights
granted to the Series D Convertible Preferred Stock.

         RESOLVED, that pursuant to the authority granted to and vested in the
Board of Directors of the Corporation in accordance with the Articles of
Incorporation, as amended and restated (the "Articles of Incorporation"), the
Board of Directors hereby creates a series of Preferred Stock par value $0.01
per share (the "Preferred Stock"), of the Corporation and hereby states that the
designation and number of shares, and the relative rights, preferences and
limitations thereof shall be as follows:

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           CERTIFICATE OF DESIGNATION, NUMBER, POWERS, PREFERENCES AND
           OTHER RIGHTS AND QUALIFICATIONS, LIMITATIONS, RESTRICTIONS
              AND OTHER CHARACTERISTICS OF SERIES D PREFERRED STOCK
                                       OF
                             NEW VISUAL CORPORATION

It is hereby certified that:

1. The name of the corporation is New Visual Corporation [hereinafter called the
"corporation"].

2. The articles of incorporation, as amended, of the corporation authorizes the
issuance of 15,000,000 shares of Preferred Stock, $0.01 par value, and expressly
vests in the Board of Directors of the corporation the authority provided
therein to issue any or all of said shares in one or more series and by
resolution or resolutions, the designation, number, full or limited voting
powers, or the denial of voting powers, preferences and relative, participating,
optional, and other special rights and the qualifications, limitations,
restrictions, and other distinguishing characteristics of each series to be
issued.

3. The Board of Directors of the corporation, pursuant to the authority
expressly vested in it as aforesaid, has adopted the following resolutions
creating a Series D issue of Preferred Stock:

RESOLVED, that the Board of Directors hereby fixes and determines the
designation of the number of shares and the rights, preferences, privileges and
restrictions relating to the Series D Preferred Stock:

         (a) DESIGNATION. The series of Preferred Stock created hereby shall be
designated the Series D Preferred Stock [the "Series D Preferred Stock"].

         (b) AUTHORIZED SHARES. The number of shares of Series D Preferred Stock
shall be 5,882.353 shares.

         (c) LIQUIDATION RIGHTS. In the event of any liquidation, dissolution or
winding up of the corporation, either voluntary or involuntary, after setting
apart or paying in full the preferential amounts due to holders of senior
capital stock, if any, the holders of Series D Preferred Stock shall be entitled
to receive, prior and in preference to any distribution of any of the assets or
surplus funds of the corporation to the holders of junior capital stock,
including Common Stock, an amount equal to $68.00 per share, less an amount
obtained by multiplying that amount by the current principal balance, divided by
the original principal amount [the "Liquidation Preference"]. If upon such
liquidation, dissolution or winding up of the corporation, the assets of the
corporation available for distribution to the holders of the Series D Preferred
Stock shall be insufficient to permit in full the payment of the Liquidation

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Preference, then all such assets of the corporation shall be distributed ratably
among the holders of the Series D Preferred Stock. Neither the consolidation or
merger of the corporation nor the sale, lease or transfer by the corporation of
all or a part of its assets shall be deemed a liquidation, dissolution or
winding up of the corporation for purposes of this Section (c).

         (d) DIVIDENDS. The Series D Preferred Stock shall be not be entitled to
receive any dividends.

         (e) CONVERSION RIGHTS. Each share of Series D Preferred Stock shall be
convertible, at the option of the holder, into 1,000 fully paid and
nonassessable shares of the Company's Common Stock, PROVIDED, HOWEVER, that such
conversion would not violate any applicable federal, state, or local law, rule,
regulation, or any judgment, writ, decree, or order binding upon the Company or
the holder, or any provision of the company's or holder's amended Articles of
Incorporation or Bylaws, nor conflict with or contravene the provisions of any
agreement to which the Company and the holder are Parties or by which they are
bound. The foregoing conversion calculation shall be hereinafter referred to as
the "Conversion Ratio". Said conversion ratio shall be subject to equitable
adjustment at the reasonable discretion of the Board of Directors of the
Corporation in the event of the occurrence of capital events which make such
adjustment appropriate, such as a dividend payable in shares of common stock,
combinations of the common stock, a merger or consolidation, or the like.

         (i) CONVERSION PROCEDURE. The holder shall effect conversions by
surrendering the certificate(s) representing the Series D Preferred Stock to be
converted to the corporation, together with a form of conversion notice
satisfactory to the corporation, which shall be irrevocable. If the holder is
converting less than all of the shares of Series D Preferred Stock represented
by the certificate tendered, the corporation shall promptly deliver to the
holder a new certificate representing the Series D Preferred Stock not
converted. Not later than five [5] trading days after the conversion date, the
corporation will deliver to the holder, (i) a certificate or certificates, which
shall be subject to restrictive legends and trading restrictions required by
law, representing the number of shares of Common Stock being acquired upon the
conversion; PROVIDED, HOWEVER, that the corporation shall not be obligated to
issue such certificates until the Series D Preferred Stock is delivered to the
corporation. If the corporation does not deliver such certificate(s) by the date
required under this paragraph (e)(i), the holder shall be entitled by written
notice to the corporation at any time on or before receipt of such
certificate(s), to rescind such conversion.

         (ii) CONVERSION PENALTY. In the event the corporation breaches its
obligation to timely deliver the Common Stock on conversion, then without
limiting holder's other rights and remedies, the corporation shall pay to the
holder an amount accruing at the rate of $5.00 per day for each such breach for

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each 5,882.353 shares of Common Stock subject to the conversion, with pro rata
payments for amounts less than 5,882.353 shares.

         (iii) ADJUSTMENTS ON STOCK SPLITS, DIVIDENDS AND DISTRIBUTIONS. If the
corporation, at any time while any Series D Preferred Stock is outstanding, (a)
shall pay a stock dividend or otherwise make a distribution or distributions on
shares of its Common Stock payable in shares of its capital stock [whether
payable in shares of its Common Stock or of capital stock of any class], (b)
subdivide outstanding shares of Common Stock into a larger number of shares, (c)
combine outstanding shares of Common Stock into a smaller number of shares, or
(d) issue reclassification of shares of Common Stock any shares of capital stock
of the corporation, the Conversion Ratio shall be adjusted by multiplying the
number of shares of Common Stock issuable by a fraction of which the numerator
shall be the number of shares of Common Stock of the corporation outstanding
after such event and of which the denominator shall be the number of shares of
Common Stock outstanding before such event. Any adjustment made pursuant to this
paragraph (e)(iii) shall become effective immediately after the record date for
the determination of stockholders entitled to receive such dividend or
distribution and shall become effective immediately after the effective date in
the case of a subdivision, combination or reclassification. Whenever the
Conversion Ratio is adjusted pursuant to this paragraph, the corporation shall
promptly mail to the Holder a notice setting forth the Conversion Ratio after
such adjustment and setting forth a brief statement of the facts requiring such
adjustment.

         (iv) ADJUSTMENTS ON RECLASSIFICATIONS, CONSOLIDATIONS AND MERGERS. In
case of reclassification of the Common Stock, any consolidation or merger of the
corporation with or into another person, the sale or transfer of all or
substantially all of the assets of the corporation or any compulsory share
exchange pursuant to which the Common Stock is converted into other securities,
cash or property, then each holder of Series D Preferred Stock then outstanding
shall have the right thereafter to convert such Series D Preferred Stock only
into the shares of stock and other securities and property receivable upon or
deemed to be held by holders of Common Stock following such reclassification,
consolidation, merger, sale, transfer or share exchange, and the Holder shall be
entitled upon such event to receive such amount of securities or property as the
shares of the Common Stock into which such Series D Preferred Stock could have
been converted immediately prior to such reclassification, consolidation,
merger, sale, transfer or share exchange would have been entitled. The terms of
any such consolidation, merger, sale, transfer or share exchange shall include
such terms so as to continue to give to the Holder the right to receive the
securities or property set forth in this paragraph (e)(iv) upon any conversion
following such consolidation, merger, sale, transfer or share exchange. This
provision shall similarly apply to successive reclassifications, consolidations,
mergers, sales, transfers or share exchanges.

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         (v) FRACTIONAL SHARES; ISSUANCE EXPENSES. Upon a conversion of Series D
Preferred Stock, the corporation shall not be required to issue stock
certificates representing fractions of shares of Common Stock, but shall issue
that number of shares of Common Stock rounded to the nearest whole number. The
issuance of certificates for shares of Common Stock on conversion of Series D
Preferred Stock shall be made without charge to the Holder for any documentary
stamp or similar taxes that may be payable in respect of the issue or delivery
of such certificate, provided that the corporation shall not be required to pay
any tax that may be payable in respect of any transfer involved in the issuance
and delivery of any such certificate upon conversion in a name other than that
of the Holder, and the corporation shall not be required to issue or deliver
such certificates unless or until the person or persons requesting the issuance
thereof shall have paid to the corporation the amount of such tax or shall have
established to the satisfaction of the corporation that such tax has been paid.

         (f) VOTING RIGHTS. Except as otherwise expressly provided herein or as
required by law, the holders of shares of Series D Preferred Stock shall not be
entitled to vote on any matters considered and voted upon by the corporation's
Common Stock. In the event the holders of the Series D Preferred Stock are
entitled to vote on a matter as required by law, the holders shall be entitled
to 1,000 votes per share of Series D Preferred Stock.

         (g) RESERVATION OF SHARES OF COMMON STOCK. The corporation covenants
that it will at all times reserve and keep available out of its authorized and
unissued Common Stock solely for the purpose of issuance upon conversion of
Series D Preferred Stock as herein provided, free from preemptive rights or any
other actual contingent purchase rights of persons other than the holders of
Series D Preferred Stock, such number of shares of Common Stock as shall be
issuable upon the conversion of the outstanding Series D Preferred Stock. If at
any time the number of authorized but unissued shares of Common Stock shall not
be sufficient to effect the conversion of all outstanding Series D Preferred
Stock, the corporation will take such corporate action necessary to increase its
authorized shares of Common Stock to such number as shall be sufficient for such
purpose. The corporation covenants that all shares of Common Stock that shall be
so issuable shall, upon issue, be duly and validly authorized, issued and fully
paid and nonassessable.

         (h) NO REISSUANCE OF SERIES D PREFERRED STOCK. No shares of the Series
D Preferred Stock acquired by the corporation by reason of redemption, purchase,
conversion or otherwise shall be reissued, and all such shares shall be
cancelled, retired and eliminated from the shares of capital stock which the
corporation shall be authorized to issue.

         (i) MANDATORY REDEMPTION. There shall be no mandatory redemption.

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and be it further

RESOLVED, that the statements contained in the foregoing resolutions creating
and designating the Series D Preferred Stock and fixing the number, voting
powers, preferences and relative, participating, optional, and other special
rights and the qualifications, limitations, restrictions, and other
distinguishing characteristics thereof, upon the effective date of such series,
be deemed to be included in and be a part of the articles of incorporation of
the corporation pursuant to the provisions of Section(s) 16-10a-602 and
16-10a-1002 of the Business Corporation Act of the State of Utah.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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         IN WITNESS WHEREOF, the undersigned has executed this Certificate on
June 6, 2003.

/s/ Brad Ketch
Brad Ketch
Chief Executive Officer

Attest:

/s/  C. Rich Wilson III
C. Rich Wilson III<PAGE>

EXHIBIT 10.1

THIS NOTE AND THE SECURITIES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE
SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED, OR OTHERWISE TRANSFERRED
OR DISPOSED OF UNLESS AND UNTIL THIS NOTE AND/OR SUCH SECURITIES ARE REGISTERED
UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION
FROM SUCH REGISTRATION IS AVAILABLE.

                           CONVERTIBLE PROMISSORY NOTE

$100,000                                                       February 10, 2003

         FOR VALUE RECEIVED, the undersigned, NEW VISUAL CORPORATION, a Utah
corporation ("MAKER"), promises to pay to the order of James Warren ("PAYEE")
the principal sum of One Hundred Thousand Dollars ($100,000) (the "PRINCIPAL"),
plus an amount equal to 50% of the principal sum (the "NOTE OBLIGATION"). All
amounts due under this Note shall be payable if and at such time as the
condition to payment set forth in Paragraph 1 shall have been met. All payments
on this Note shall be due and payable in lawful money of the United States of
America at 205 Suite 215 East Carrillo St., Santa Barbara, CA 93101 (or such
other place as Payee may from time to time designate).

         1. PAYMENTS. The Principal and the Note Obligation shall become due and
payable only if and at such time as Maker shall have received gross revenues in
the amount of at least Two Million Two Hundred Fifty Thousand United States
Dollars (US$2,250,000) from the distribution of that certain motion picture that
is currently being filmed and produced by the Maker under the current working
title "Liquid."

         2. EVENTS OF DEFAULT AND REMEDIES. In the event Maker fails to pay the
amount due under this Note within ten Business Days (as hereafter defined) after
the condition to payment, as set forth in Paragraph 1, has been met, the holder
of this Note may (i) offset against this Note any sum or sums owed by the holder
hereof to Maker, or (ii) proceed to protect and enforce his rights either by
suit in equity and/or by action at law, or by other appropriate proceedings,
whether for the specific performance of any covenant or agreement contained in
this Note or to enforce any other legal or equitable right of the holder of this
Note. As used herein, a "BUSINESS DAY" is any day other than a Saturday, Sunday
or a legal holiday for financial institutions in San Diego, California.

         3. VOLUNTARY PREPAYMENTS. The Principal and Note Obligation on this
Note may be voluntarily prepaid in whole or in part at any time prior to
conversion of this Note by the holder hereof in accordance with Section 4
hereof. At any time prior to payment of the Principal and Note Obligation on
this Note, the holder hereof shall have the option of exercising its Optional
Conversion rights under Section 4.

         4. CONVERSION.

                  (a) CONVERSION OPTION. This Note shall be convertible at the
option of Payee or other holder hereof (the "OPTIONAL CONVERSION"), at any time,
in whole or in part, in lieu of and in satisfaction of the unpaid Principal and

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unpaid Note Obligation hereunder. This Note shall be convertible into that
number of fully paid and nonassessable shares of Common Stock (as defined in
Section 5) as is equal to the quotient of the unpaid Principal plus the unpaid
Note Obligation divided by the applicable Conversion Price (as defined in
Section 5) in effect from time to time. Upon any Optional Conversion, the
outstanding Principal and unpaid Note Obligation due under this Note shall be
reduced in full by an amount equal to the number of shares of Common Stock
issued upon such conversion multiplied by the applicable Conversion Price.

                  (b) CONVERSION PROCEDURES. If Payee desires to convert this
Note into Common Stock, it shall surrender this Note to Maker at its principal
executive offices, accompanied by proper instruments of transfer to Maker or in
blank, accompanied by irrevocable written notice to Maker that Payee elects so
to convert this Note and the name or names (with address) in which a certificate
or certificates for Common Stock are to be issued. Maker shall, as soon as
practicable after such written notice and compliance with any other conditions
herein contained, deliver at such office to Payee, certificates for the number
of full shares of Common Stock to which it shall be entitled. Such conversion
shall be deemed to have been made as of the date of such surrender of this Note,
and the person or persons entitled to receive Common Stock or other securities
deliverable upon conversion shall be treated for all purposes as the record
holder or holders thereof on such date.

                  (c) CERTAIN ADJUSTMENTS. The applicable Conversion Price and
the number of securities issuable upon conversion of this Note shall be subject
to adjustment from time to time as follows:

                           (i) In case Maker shall at any time after the date
         hereof (1) pay a dividend or make a distribution on its capital stock
         that is paid or made in shares of stock of Maker, (2) subdivide its
         outstanding shares of Common Stock into a greater number of shares or
         (3) combine its outstanding shares of Common Stock into a smaller
         number of shares, then in each such case the applicable Conversion
         Price in effect immediately prior thereto and the securities issuable
         shall be adjusted retroactively as provided below so that Payee
         thereafter shall be entitled to receive the number of shares of Common
         Stock of Maker and other shares and rights to purchase stock or other
         securities which Payee would have owned or have been entitled to
         receive after the happening of any of the events described above had
         this Note been converted immediately prior to the happening of such
         event or any record date with respect thereto. In the event of the
         redemption of any shares referred to in clause (1), Payee shall have
         the right to receive, in lieu of any such shares or rights, any cash,
         property or securities paid in respect of such redemption. An
         adjustment made pursuant to this subparagraph (i) shall become
         effective immediately after the record date in the case of a dividend
         or distribution and shall become effective immediately after the
         effective date in the case of a subdivision or combination.

                           (ii) Whenever the Conversion Price is adjusted as
         provided above, Maker shall compute the adjusted Conversion Price in
         accordance herewith and mail to Payee a notice stating that the
         Conversion Price has been adjusted and setting forth the adjusted
         Conversion Price.

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                           (iii) In the event that at any time, as a result of
         any adjustment made pursuant to this Section, Payee shall become
         entitled to receive any shares of Maker other than shares of Common
         Stock or to receive any other securities, the number of such other
         shares or securities so receivable upon conversion of this Note shall
         be subject to adjustment from time to time in a manner and on terms as
         nearly equivalent as practicable to the provisions contained in these
         provisions with respect to Common Stock.

                  (d) NO FRACTIONAL SHARES. No fractional shares or scrip
representing fractional shares of Common Stock shall be issued upon conversion
of this Note. All calculations of the number of shares of Common Stock to be
issued upon conversion of this Note shall be rounded to the nearest whole share.

                  (e) RECLASSIFICATION, CONSOLIDATION, MERGER OR SALE OF ASSETS.
In case of any reclassification of Common Stock, any consolidation of Maker
with, or merger of Maker into, any other person, any merger of another person
into Maker (other than a merger which does not result in any reclassification,
conversion, exchange or cancellation of outstanding shares of Common Stock of
Maker), any sale or transfer of all or substantially all of the assets of Maker
or any compulsory share exchange pursuant to which share exchange the Common
Stock is converted into other securities, cash or other property, then lawful
provision shall be made as part of the terms of such transaction whereby Payee
shall have the right thereafter, during the period this Note shall be
convertible hereunder, to convert this Note only into the kind and amount of
securities, cash and other property receivable upon such reclassification,
consolidation, merger, sale, transfer or share exchange by a holder of the
number of shares of Common Stock of Maker into which this Note might have been
converted immediately prior to such reclassification, consolidation, merger,
sale, transfer or share exchange assuming such holder of Common Stock of Maker
(i) is not a person with which Maker consolidated or into which Maker merged or
which merged into Maker, to which such sale or transfer was made or a party to
such share exchange, as the case may be ("CONSTITUENT PERSON"), or an affiliate
of a constituent person and (ii) failed to exercise his rights of election, if
any, as to the kind or amount of securities, cash and other property receivable
upon such reclassification, consolidation, merger, sale, transfer or share
exchange (provided that if the kind or amount of securities, cash and other
property receivable upon such reclassification, consolidation, merger, sale,
transfer or share exchange is not the same for each share of Common Stock of
Maker held immediately prior to such consolidation, merger, sale or transfer by
other than a constituent person or an affiliate thereof and in respect of which
such rights of election shall not have been exercised ("NON-ELECTING SHARE"),
then the kind and amount of securities, cash and other property receivable upon
such reclassification, consolidation, merger, sale, transfer or share exchange
by each non-electing share shall be deemed to be the kind and amount so
receivable per share by a plurality of the non-electing shares). Maker, the
person formed by such consolidation or resulting from such merger or which
acquires such assets or which acquires Maker's shares, as the case may be, shall
make provisions in its certificate or articles of incorporation or other
constituent document to establish such right. Such certificate or articles of
incorporation or other constituent document shall provide for adjustments which,
for events subsequent to the effective date of such certificate or articles of
incorporation or other constituent document, shall be as nearly equivalent as
may be practicable to the adjustments provided for herein. The above provisions
shall similarly apply to successive reclassifications, consolidations, mergers,
sales, transfers or share exchanges.

                                       3
<PAGE>

                  (f) RESERVATION OF SHARES; TRANSFER TAXES; ETC. Maker shall at
all times reserve and keep available, out of its authorized and unissued stock,
solely for the purpose of effecting the conversion of this Note, such number of
shares of its Common Stock and other securities free of preemptive rights as
shall from time to time be sufficient to effect the conversion of this Note.
Maker shall from time to time, in accordance with the laws of the State of
California, increase the authorized number of shares of Common Stock if at any
time the number of shares of Common Stock not outstanding shall not be
sufficient to permit the conversion of this Note. If the Common Stock is listed
on the New York Stock Exchange, the Nasdaq National Market, or any other
national securities exchange, Maker will, if permitted by the rules of such
exchange, list and keep listed on such exchange, upon official notice of
issuance, all shares of Common Stock issuable upon conversion of this Note.
Maker shall pay any and all issue or other taxes that may be payable in respect
of any issue or delivery of shares of Common Stock or other securities upon
conversion of this Note by Payee.

         5. DEFINED TERMS. As used in this Note, the following terms have the
respective meanings set forth below:

                  (a) "COMMON STOCK" shall mean the common stock of Maker and
any capital stock into which such common stock shall have been changed and any
other stock resulting from any reclassification of such stock which is not
preferred as to dividends or assets over any other class of stock which shall be
in effect from time to time.

                  (b) "CONVERSION PRICE" shall mean, subject to adjustment as
provided in Section 4(c) hereof, $0.38.

         6. NO IMPAIRMENT. Maker will not, by amendment of its certificate or
articles of incorporation or through any reorganization, transfer of assets,
merger, dissolution, issuance or sale of securities or any other voluntary
action or inaction, intentionally avoid or seek to avoid the observance or
performance of any of the material terms to be observed or performed hereunder
by Maker but will at all times in good faith assist in the carrying out of all
the provisions of this Note.

         7. CUMULATIVE RIGHTS. No delay on the part of the holder of this Note
in the exercise of any power or right under this Note, or under any document or
instrument executed in connection herewith, shall operate as a waiver thereof,
nor shall a single or partial exercise of any other power or right.

         8. WAIVER. Maker, and each surety, endorser, guarantor, and other party
ever liable for the payment of any sum of money payable on this Note, jointly
and severally waive demand, presentment, protest, notice of nonpayment, notice
of intention to accelerate, notice of acceleration, notice of protest, and any
and all lack of diligence or delay in collection or the filing of suit hereon
which may occur; agree that their liability on this Note shall not be affected
by any renewal or extension in the time of payment hereof, by any indulgences,
or by any release or change in any security for the payment of this Note; and
hereby consent to any and all renewals, extensions, indulgences, releases, or
changes hereof or hereto, regardless of the number of such renewals, extensions,
indulgences, releases, or changes.

                                       4
<PAGE>

         9. ATTORNEYS' FEES AND COSTS. In the event that this Note is placed in
the hands of attorneys for collection, or in the event this Note is collected in
whole or in part through legal proceedings of any nature, then and in any such
case Maker promises to pay all costs of collection, including, but not limited
to, reasonable attorneys' fees, incurred by the holder hereof on account of such
collection.

         10. NO ORAL AGREEMENTS. THIS NOTE (ALONG WITH THE OTHER DOCUMENTS AND
INSTRUMENTS EXECUTED AND DELIVERED PURSUANT THERETO) REPRESENTS THE FINAL
AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

         11. GOVERNING LAW. This Note shall be governed by and construed in
accordance with the laws of the State of California.

         12. SEVERABILITY. If any provision of this Note shall be held to be
unenforceable by a court of competent jurisdiction, such provisions shall be
severed from this Note and the remainder of this Note shall continue in full
force and effect.

         13. ASSIGNMENT. This Note, or any portion hereof, may be assigned by
Payee without the consent of Maker. Any such assignment by Payee shall be in
compliance with the Securities Act and applicable state securities laws.

         14. LIMITATION ON INTEREST. The Payee acknowledges and shall cause any
subsequent transferee of this Note to acknowledge that the Note Obligation
hereunder may be in excess of the maximum interest rate permitted to be charged
by applicable law. Payee and/or such subsequent holder of this Note expressly
assumes any risks associated therewith, including, without limitation, the risk
that an attempt to collect all amounts owing under this Note may be
unenforceable and set aside, in whole or in part, by a court.

                                       5
<PAGE>

         IN WITNESS WHEREOF, the undersigned has executed this Note as of the
day and year first above written.

                                    MAKER:

                                    NEW VISUAL CORPORATION

                                    By: /s/ Ray Willenberg
                                    Name:
                                          -------------------------------------
                                    Title:
                                           ------------------------------------

                                    Address:   5920 Friars Road, Suite 104
                                               San Diego, California 92108
                                    Phone:     (619) 692-0333
                                    Fax:       (619) 718-7446

                                    ACKNOWLEDGED:

                                    PAYEE:

                                    By: /s/ James Warren
                                    Name:
                                          -------------------------------------
                                    Title:
                                           ------------------------------------

                                       6

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