Document:

STOCK
      PURCHASE AGREEMENT

    

    

    THIS
      STOCK PURCHASE AGREEMENT (the “Agreement”) made and entered into as of January
      16, 2007 is by and among ALEX LIGHTMAN (the “Seller”), holder of shares of
      $.001 par value Common Stock of INNOFONE.COM, INCORPORATED, a Nevada corporation
      (“Company”), LAKEWOOD GROUP LLC (“Buyer”) and GRUSHKO & MITTMAN, P.C. (the
“Escrow Agent”).

    

    RECITALS

    

    WHEREAS,
      Seller is the owner of 825,000 shares of $.001 par value Common Stock of
      Innofone.com, Incorporated (the “Share” or “Shares”); and

    

    WHEREAS,
      the Buyer desires to purchase and Seller desires to sell the Shares to Buyer
      for
      the consideration and upon the terms and conditions hereinafter
      contained;

    

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements contained
      herein and in reliance upon the representations and warranties hereinafter
      set
      forth, the parties agree as follows:

    

    1. Purchase
      and Sale of Shares.
      Subject
      to the terms and conditions of this Agreement, Seller agrees to sell, assign,
      transfer and deliver to Buyer the Shares at a price of $0.001 per Share (the
      “Purchase Price”), and subject to the terms and conditions of this Agreement,
      Buyer agrees to purchase from Seller the Shares at the Purchase Price
      .

    

    2. Escrow
      Account.
      Buyers
      and Seller shall establish an escrow account (the “Escrow Account”) with the
      Escrow Agent upon the following terms and conditions:

    

    (a) Each
      Buyer shall deposit funds by wire transfer or check into the trust account
      of
      the Escrow Agent in an amount equal to the aggregate Purchase Price (the
“Purchase Funds”).

    

    (b) Seller
      shall deposit into the Escrow Account stock certificates for the number of
      Shares, which stock certificates shall be registered in Buyer’s name on the
      books and records of the Company (the “Share Certificate”).

    

    (c) Upon
      receipt of the Share Certificate from the Seller and the Purchase Funds from
      Buyer, the Escrow Agent shall deliver the Purchase Funds to the Seller and
      shall
      deliver the Share Certificate to Buyer.

    

    (d) If
      either
      the Share Certificate or the Purchase Funds have not been received by the Escrow
      Agent on or before 5:00 p.m. Eastern time on January 31, 2007, unless otherwise
      instructed, in writing, by the Seller and Buyer, the Escrow Agent shall return
      the Share Certificate to the Seller if they are being held by the Escrow Agent,
      or shall return the Purchase Funds to Buyer without deduction or offset if
      they
      are being held by the Escrow Agent.

    

    (e) Anything
      to the contrary herein notwithstanding, a closing hereunder must occur
      contemporaneously with a closing under a certain Subscription Agreement dated
      at
      or about the date hereof between the Company and Buyer in connection with the
      purchase by Buyer from the Company of a promissory note in the principal amount
      of $1,000,000 (“Note”).

    

    3. Indemnification.
      Buyer
      and Seller, individually and collectively, their successors and assigns, agree,
      jointly and severally, to indemnify, defend and hold harmless the Escrow Agent
      from and against any and all costs (including, without limitation, all legal
      fees and any related expenses), liabilities, claims and losses arising out
      of or
      in connection with this Agreement, except as provided in paragraph 6
      below.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4. Representations
      and Warranties by the Seller.
      Seller
      represents and warrants to each of the Buyers as follows:

    

    (a) Seller
      owns the Shares and shall transfer to Buyer at the Closing good and valid title
      to said Shares free and clear of all liens, claims, options, charges and
      encumbrances whatsoever and upon the consummation of the transaction
      contemplated herein good title in the Shares shall vest in Buyer free of all
      liens, charges, encumbrances and restrictions except those arising under the
      Securities Act of 1933.

    

    (b) Seller
      has full power and authority to execute this Agreement and consummate the
      transactions contemplated hereby, and this Agreement is binding on Seller and
      enforceable in accordance with its terms. The execution and delivery of this
      Agreement and consummation of the transactions contemplated hereby do not
      violate or conflict with or constitute a default under any contract, agreement
      or commitment of any kind to which Seller is a party or by which Seller or
      Seller’s property is bound, or to Seller’s knowledge, any existing applicable
      law, rule, regulation, judgment, order or decree of any government, governmental
      instrumentality or court, domestic or foreign, having jurisdiction over Seller
      or any of Seller’s property and when delivered in accordance with the terms
      hereof, will constitute the valid and binding obligation of the Seller
      enforceable against the Seller in accordance with its terms.

    

    (c) There
      is
      no action, suit, inquiry, notice of violation, proceeding or investigation
      pending or, to the knowledge of the Seller, threatened against or affecting
      the
      Seller or any of its respective properties before or by any court, arbitrator,
      governmental or administrative agency or regulatory authority (federal, state,
      county, local or foreign) (collectively, an “Action”) which (i) adversely
      affects or challenges the legality, validity or enforceability of any of the
      documents hereunder or the Shares or (ii) could, if there were an unfavorable
      decision, individually or in the aggregate, have or result in a material adverse
      effect.

    

    (d) The
      Seller is not (i) in default under or in violation of (and no event has occurred
      which has not been waived which, with notice or lapse of time or both, would
      result in a default by the Seller), nor has the Seller received notice of a
      claim that it is in default under or that it is in violation of, any indenture,
      loan or credit agreement or any other agreement or instrument to which it is
      a
      party or by which Seller or any of Seller’s properties is bound, (ii) is in
      violation of any judgment or order of any court, arbitrator or governmental
      body, or (iii) is in violation of any statute, rule or regulation of any
      governmental authority, in each case of clauses (i), (ii) or (iii) above, except
      as could not individually or in the aggregate, have or result in a material
      adverse effect.

    

    5. Representations
      and Warranties by the Buyer.
      Buyer
      represents and warrants to the Seller as follows:

    

    (a) Buyer
      understands the speculative nature and risks associated with an investment
      in
      the Shares, confirms that the purchase of the Shares is suitable and consistent
      with Buyer’s investment program and that Buyer’s financial position enables
      Buyer to bear the risks of such investment; and understands that there is only
      a
      limited public market for the Shares.

    

    (b) Buyer
      acknowledges that the Shares are “restricted securities” as that term is used in
      Rule 144 of the Securities Act of 1933, as amended (the “Act”); that the Shares
      may be sold, assigned or otherwise transferred only pursuant to an effective
      registration statement under the Act or pursuant to an exemption from
      registration under the Act, the availability of which is to be established
      to
      the satisfaction of the Company; and that the Company is not obligated to
      register the Shares under any federal and/or state securities laws.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (c) Buyer
      has
      had the opportunity to ask questions of the officers and directors of the
      Company and to receive additional information from the Company, to the extent
      that the Company possessed such information, necessary to evaluate the merits
      and risks of an investment in the Shares.

    

    (d) Buyer
      has
      sufficient knowledge and experience in financial matters to evaluate the merits
      and risks of an investment in the Shares.

    

    (e) Buyer
      has
      sought legal advice with a lawyer of its choosing with regard to the purchase
      of
      the Shares.

    

    6. Concerning
      the Escrow Agent.
      To
      induce the Escrow Agent to act hereunder, it is further agreed by the Seller
      and
      Buyer that:

    

    (a) This
      Agreement expressly sets forth all the duties of the Escrow Agent with respect
      to any and all matters pertinent hereto. No implied duties or obligations on
      the
      part of the Escrow Agent shall be read into this Agreement. The Escrow Agent
      shall not be bound by the provisions of any agreement among the other parties
      hereto except this Agreement.

    

    (b) The
      Escrow Agent shall not be liable for any action or failure to act in its
      capacity as Escrow Agent hereunder unless such action or failure to act shall
      constitute gross negligence or willful misconduct on the part of the Escrow
      Agent, in which case there shall be no indemnification obligations as provided
      in Paragraph 3, and the Escrow Agent shall indemnify and hold harmless the
      Seller, Buyer and their respective officers, directors, agents and employees
      from and against any loss, cost or expense (including reasonable attorneys’
fees) that they may suffer or incur as a consequence of such gross negligence
      or
      willful misconduct.

    

    (c) The
      Escrow Agent shall be entitled to rely upon any order, judgment, certification,
      demand, notice, instrument or other writing delivered to it hereunder without
      being required to determine the authenticity or the correctness of any fact
      stated therein or the propriety or validity of the service thereof. The Escrow
      Agent may act in reliance upon any instrument or signature believed by it to
      be
      genuine and may assume, unless it has actual knowledge to the contrary, that
      any
      person purporting to give notice or receipt or advice or make any statement
      or
      execute any document in connection with the provisions hereof has been duly
      authorized to do so.

    

    (d) The
      Escrow Agent may act pursuant to the advice of counsel with respect to any
      matter relating to this Agreement and shall not be liable for any action taken
      or omitted in accordance with such advice, except as provided in paragraph
      6(b)
      above.

    

    (e) The
      Escrow Agent does not have any interest in the Shares or Purchase Funds, but
      is
      serving as escrow holder only and having only possession thereof, and is not
      charged with any duty or responsibility to determine the validity or
      enforceability of any such document.

    

    (f) The
      Escrow Agent (and any successor Escrow Agent) may at any time resign as such
      by
      delivering the Share Certificate and the Purchase Funds to any successor Escrow
      Agent, jointly designated by the other parties hereto in writing, or to any
      court of competent jurisdiction, whereupon the Escrow Agent shall be discharged
      of and from any and all further obligations arising in connection with this
      Escrow Agreement thereafter. The resignation of the Escrow Agent will take
      effect on the earlier of (a) the appointment of a successor (including a court
      of competent jurisdiction) or (b) the day which is 5 days after the date of
      delivery of its written notice of resignation to the other parties hereto.
      If at
      that time the Escrow Agent has not received a designation of a successor Escrow
      Agent, the Escrow Agent’s sole responsibility after that time shall be to safe
      keep the deposited Share Certificate and Purchase Funds and not make delivery
      or
      disposition thereof until receipt of a designation of successor Escrow Agent
      or
      a joint written disposition instruction by the other parties hereto or a final
      order of a court of competent jurisdiction.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (g) In
      the
      event of any disagreement among the parties hereto resulting in adverse claims
      or demands being made in connection with the Share Certificate or Purchase
      Funds, or in the event that the Escrow Agent otherwise determines that the
      Share
      Certificate and/or Purchase funds should be retained, then the Escrow Agent
      may
      retain the Share Certificate and/or Purchase Funds until the Escrow Agent shall
      have received (i) a final non-appealable order of a court of competent
      jurisdiction directing delivery of the Share Certificate and/or Purchase funds,
      or (ii) a written agreement executed by the other parties hereto directing
      delivery of the Share Certificate and/or Purchase Funds, in which case the
      Escrow Agent shall promptly deliver the Share Certificate and/or Purchase Funds
      in accordance with such order or agreement. Any court order referred to in
      (i)
      above shall be accompanied by a legal opinion by counsel for the presenting
      party reasonably satisfactory to the Escrow Agent to the effect that said court
      order is final and non-appealable. The Escrow Agent shall make no independent
      determination regarding the Share Certificates or Purchase Funds absent the
      filing and notice of a legal action by one or both of the parties.

    

    (h) This
      Agreement shall be binding upon and inure solely to the benefit of the parties
      hereto and their respective successors (including successors by way of merger)
      and assigns, heirs, administrators and representatives and shall not be
      enforceable by or inure to the benefit of any third party except as provided
      in
      paragraph 6(g) with respect to a resignation by the Escrow Agent. Each entity
      that is a party hereto represents and warrants that they have the full power
      and
      authority to bind the entity and that Escrow Agent may rely upon such
      representation with out further inquiry. This Agreement may be modified only
      in
      writing, signed by al of the parties hereto, and no waiver hereunder shall
      be
      effective unless in writing signed by the party to be charged.

    

    7. (a) Reset.
      Other
      than in connection with (i) full or partial consideration in connection with
      a
      strategic merger, acquisition, consolidation or purchase of substantially all
      of
      the securities or assets of a corporation or other entity by the Company,
      provided such issuances are not for the purpose of raising capital, (ii)
      the
      Company’s issuance of securities in connection with strategic license agreements
      and other partnering arrangements so long as such issuances are not for the
      purpose of raising capital, (iii) the Company’s issuance of Common Stock or the
      issuances or grants of options to purchase Common Stock pursuant to stock option
      plans and employee stock purchase plans described on Schedule
      5(d)
      to the
      Subscription Agreement, (iv) underwritten public offerings by the Company,
      (v)
      as described in the Reports (as defined in the Subscription Agreement), and
      (vi)
      as described on Schedule
      7
      hereto
      (collectively the foregoing are “Excepted
      Issuances”),
      if at
      any time during the Compliance Period (as defined in the Subscription Agreement)
      while the Buyer is holding Shares, the Company shall offer, issue or agree
      to
      issue any common stock or securities convertible into or exercisable for shares
      of Common Stock (or modify any of the foregoing which may be outstanding) to
      any
      person or entity at a price per share or conversion or exercise price per share
      which shall be less than $1.00, without the consent of Buyer, then the Seller
      shall deliver, for each such occasion, additional Shares to Buyer so that the
      average per share purchase price of the shares of Common Stock sold to Buyer
      (of
      only the Purchased Shares still owned by Buyer) is equal to such other lower
      price per share. For purposes of this Section 7, the purchase price of the
      Shares shall be deemed to be $1.00 (“Imputed
      Share Price”).
      The
      delivery to the Buyer of the additional Shares shall be not later than the
      closing date of the transaction giving rise to the requirement to issue
      additional Shares (“Issuance
      Date”).
      The
      Buyer is hereby granted by the Company the registration rights described in
      Section 11 of the Subscription Agreement in relation to such additional Shares,
      or at the election of the Buyer, registration rights, if any, granted in
      connection with the dilutive issuance. For purposes of the issuance and
      adjustment described in this paragraph, the issuance of any security of the
      Company carrying the right to convert such security into shares of Common Stock
      or of any warrant, right or option to purchase Common Stock shall result in
      the
      delivery of the additional Shares upon the sooner of the agreement to or actual
      issuance of such convertible security, warrant, right or option and again at
      any
      time upon any subsequent issuances of shares of Common Stock upon exercise
      of
      such conversion or purchase rights if such issuance is at a price lower than
      $1.00. 

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (b) Maximum
      Exercise of Rights.
      If the
      application of the rights described in Section 7(a) would
      or
      could result in the beneficial ownership by Buyer and its affiliates of an
      amount of Common Stock of the Company in excess of the sum of (i) the number
      of
      shares of Common Stock beneficially owned by the Subscriber and its affiliates
      on an Issuance Date, and (ii) the number of shares of Common Stock issuable
      pursuant to Section 7(a) with respect to which the determination of this
      provision is being made on an Issuance Date, in excess of more than 4.99% of
      the
      outstanding shares of Common Stock of the Company on such Issuance Date, then
      the issuance of such additional Shares in excess of 4.99% to Buyer will be
      deferred in whole or in part until such time as Buyer is able to beneficially
      own such common stock without exceeding the applicable maximum amount calculated
      in the manner described above. For the purposes of the provision to the
      immediately preceding sentence, beneficial ownership shall be determined in
      accordance with Section 13(d) of the 1934 Act, as amended, and Regulation 13d-3
      thereunder. Subject to the foregoing, the Subscriber shall not be limited to
      aggregate conversions of 4.99%. The determination of when such common stock
      may
      be issued shall be made by Subscriber.

     

    8.
       Miscellaneous.

    

    (a) The
      subject headings of the paragraphs of this Agreement are included for purposes
      of convenience only and shall not affect the construction or interpretation
      of
      any of its provisions.

    

    (b) This
      Agreement constitutes the entire agreement between the parties pertaining to
      the
      subject matter contained in it and supersedes all prior and contemporaneous
      agreements, representations and understanding of the parties. No supplement,
      modification or amendment of this Agreement shall be binding unless executed
      in
      writing by all the parties. No waiver of any of the provisions of this Agreement
      shall be deemed, or shall constitute, a waiver of any other provisions, whether
      or not similar, nor shall any waiver constitute a continuing waiver. No waiver
      shall be binding unless executed in writing by the party making the
      waiver.

    

    (c) This
      Agreement may be executed simultaneously in one or more counterparts, each
      of
      which shall be deemed an original, but all of which together shall constitute
      one and the same instrument.

    

    (d) Nothing
      in this Agreement, whether expressed or implied, is intended to confer any
      rights or remedies under or by reason of this Agreement on any persons other
      than the parties to it and their respective successors and assigns, nor is
      anything in this Agreement intended to relieve or discharge the obligation
      or
      liability of any third persons to any party to this Agreement, nor shall any
      provision give any third person any right of subrogation or action over against
      any party to this Agreement.

    

    (e) This
      Agreement shall be binding on and shall inure to the benefit of the parties
      to
      it and their respective heirs, legal representatives, successors and
      assigns.

    

    (f) If
      any
      legal action or any arbitration or other proceeding is brought for the
      enforcement of this Agreement, or because of an alleged dispute, breach, default
      or misrepresentation in connection with any of the provisions of this Agreement,
      the successful or prevailing party or parties shall be entitled to recover
      reasonable attorneys’ fees and other costs incurred in that action or
      proceeding, in addition to any other relief to which it or they may be
      entitled.

    

    (g) This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (h) The
      parties hereby consents to the exclusive jurisdiction of all courts sitting
      in
      the State and County of New York, in connection with any action or proceeding
      under or relating to this Agreement, and waive trial by jury in any such action
      or proceeding.

    

    (i) All
      notices, requests, demands and other communications under this Agreement shall
      be in writing and shall be validly given or made to another party if given
      by
      personal delivery, telex, facsimile, telegram or if deposited in the United
      States mail, certified or registered, postage prepaid, return receipt requested.
      If such notice, demand or other communication is given by personal delivery,
      telex, facsimile or telegram, service shall be conclusively deemed made at
      the
      time of receipt. If such notice, demand or other communication is given by
      mail,
      such notice shall be conclusively deemed given forty-eight (48) hours after
      the
      deposit thereof in the United States mail addressed to the party to whom such
      notice, demand or other communication is to be given as hereinafter set
      forth:

    

    
      	 	
              If
                to Seller:

            	
              Alex
                Lightman

            

    

    c/o
      Innofone.com,
      Incorporated

    1431
      Ocean Avenue, Suite 1500

    Santa
      Monica, CA 90401

    Fax:
      (310) 458-2844

    

    

    
      	 	
              If
                to Buyer:

            	
              Lakewood
                Group LLC

            

    

    152
      West
      57th
      Street,
      54th
      Floor

    New
      York,
      NY 10019

    Fax:
      (732) 364-3555

    

    

    
      	 	
              If
                to Escrow Agent:

            	
              Grushko
                & Mittman, P.C.

            

    

    551
      Fifth
      Avenue, Suite 1601

    New
      York,
      NY 10176

    

    Any
      party
      may change its address for purposes of this paragraph by giving the other party
      written notice of the new address in the manner set forth
      above.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Stock Purchase Agreement as of the date first
      set forth above.

    

    
      	 	
              SELLER:

            
	 	 
	 	 
	 	
              /s/
                Alex
                Lightman                                            
                

            
	 	
              ALEX
                LIGHTMAN

            
	 	 
	 	
              BUYER:

            
	 	 
	 	 
	 	
              /s/                                                                       
                

            
	 	
              LAKEWOOD
                GROUP LLC

            
	 	 
	 	
              ESCROW
                AGENT:

            
	 	 
	 	
              GRUSHKO
                & MITTMAN, P.C.

            
	 	 
	 	 
	 	
              By:
                /s/                                                                
                

            

    

     

    

    ACKNOWLEDGEMENT

    

    Innofone.com,
      Incorporated agrees to cooperate with Buyer in fulfilling the purpose and intent
      of this Agreement and not take any action or suffer inaction inconsistent with
      Buyer’s lawful rights under this Agreement.

    

    
      	 	
              INNOFONE.COM,
                INCORPORATED

            
	 	 	 
	 	 	 
	 	
              By:
                /s/                                                                  
                

            
	 	 	
              Name:

            
	 	 	
              Title:

            
	 	 	 
	 	 	 
	 	
              
                By:
                  /s/                                                                  
                  

              

            
	 	 	
              Name:

            
	 	 	
              Title:

            

    

    

    
      
         

      

      
        7Unassociated Document

    JANEL
      WORLD TRADE LTD.

    CERTIFICATE
      OF DESIGNATION

    OF

    SERIES
      A CONVERTIBLE 

    PREFERRED
      STOCK

    

    (Pursuant
      to Section 78.1955 of the Nevada Private Corporations Law)

     

      
        

      

    

    

    The
      undersigned, an authorized officer of Janel World Trade Ltd., a Nevada
      corporation (the “Corporation”),
      in
      accordance with the provisions of Section 78.1955 of the Nevada Private
      Corporations Law (the “NPCL”),
      does
      hereby certify that, in accordance with NRS 78.315 of the NPCL, the following
      resolution was duly adopted by the Board of Directors of the Corporation on
      January 10, 2007:

     

    RESOLVED,
      that
      the Board of Directors, pursuant to authority expressly vested in it by the
      provisions of the Certificate of Incorporation of the Corporation, hereby
      authorizes the issuance of a series of Preferred Stock, par value $0.001 per
      share, of the Corporation, and hereby fixes the designation, preferences, rights
      and the qualifications, limitations and restrictions thereof, in addition to
      those set forth in the Certificate of Incorporation of the Corporation, as
      follows:

     

    (1) Voting
      Rights.

     

    (a) Series A
      Preferred Stock.
      Except
      as otherwise provided herein, in the Certificate of Incorporation or as required
      by law, the holders of the Preferred Shares (each a “Holder,”
and
      collectively the “Holders”)
      and
      the holders of the Company’s common stock, par value $0.001 per share (the
“Common
      Stock”)
      shall
      vote together as a single class with each Preferred Share having the number
      of
      votes equal to the largest whole number of shares of Common Stock into which
      such Preferred Share could be converted, at the record date for the
      determination of the stockholders entitled to vote on such matters or, if no
      such record date is established, at the date such vote is taken.

     

    (b) Common
      Stock.
      Each
      holder of shares of Common Stock shall be entitled to one vote for each share
      thereof held. Except as otherwise expressly provided herein or as required
      by
      law, the Holders of the Preferred Shares and the holders of Common Stock shall
      vote together and not as separate classes.

     

    (2) Stated
      Value.
      Subject
      to Section 6,
      each
      Preferred Share shall have a “Stated
      Value”
equal
      to fifty ($.50) cents.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (3) Conversion
      of Preferred Shares. 

     

    (a) The
      Preferred Shares shall be convertible into shares of Common Stock at any time
      or
      times on or after the first date of issuance of any Preferred Share (the
“Original
      Issuance Date”).
      Any
      Holder shall be entitled to convert all or a portion of such Holder’s Preferred
      Shares into fully paid and non-assessable shares of Common Stock (each, a
“Conversion”),
      in
      accordance with this Section 3(a),
      Section
      3(b)
      and
Section 3(c).
      The
      Company shall not issue any fraction of a share of Common Stock upon any
      conversion. All shares of Common Stock (including fractions thereof) issuable
      upon conversion of more than one Preferred Share by a Holder thereof shall
      be
      aggregated for purposes of determining whether the conversion would result
      in
      the issuance of a fraction of a share of Common Stock. If, after the
      aforementioned aggregation, the issuance would result in the issuance of a
      fraction of a share of Common Stock, the Company shall, in lieu of issuing
      such
      fractional share, pay to the Holder the fair value thereof in cash. The Company
      shall pay any and all taxes that may be payable with respect to the issuance
      and
      delivery of Common Stock upon conversion of Preferred Shares unless such taxes
      result from the issuance of Common Stock upon conversion to a person other
      than
      the Holder.

     

    (b) Conversion
      Price.
      Subject
      to anti-dilution adjustment as provided in Section 3(d),
      upon a
      Conversion pursuant to Section
      3(a)
      herein,
      the conversion price (the “Optional
      Conversion Price”)
      of
      each Preferred Share shall equal $.50. Each Preferred Share will convert into
      that number of shares of Common Stock determined by dividing the Stated Value
      of
      the Preferred Share by the Optional Conversion Price, as adjusted at the time
      of
      conversion.

     

    (c) Mechanics
      of Conversion.
      To
      convert Preferred Shares into Conversion Shares, pursuant to Section
      3(a)
      on any
      date (a “Conversion
      Date”),
      the
      Holder thereof shall (i) transmit by facsimile (or otherwise deliver), for
      receipt on or prior to 11:59 p.m. Eastern Time on such date, a copy of an
      executed notice of conversion in the form attached hereto as Exhibit I
      (the
“Conversion
      Notice”)
      to the
      Company, and (ii) surrender to a common carrier for delivery to the Company
      within three (3) business days of such date the original certificates
      representing the Preferred Shares being converted (or an indemnification
      undertaking with respect to such shares in the case of their loss, theft or
      destruction) (the “Preferred
      Stock Certificates”).
      On or
      before the third (3rd)
      Business Day following the date of receipt of a Conversion Notice (the
“Share
      Delivery Date”),
      the
      Company shall (x) issue and deliver to the address as specified in the
      Conversion Notice, a certificate, registered in the name of the Holder or its
      designee, for the number of shares of Common Stock to which the Holder shall
      be
      entitled, or (y) provided that the Common Stock is then publicly traded (or
      quoted), the Company has a transfer agent (the “Transfer
      Agent”),
      and
      the Transfer Agent is participating in The Depository Trust Company
      (“DTC”)
      Fast
      Automated Securities Transfer Program, upon the request of the Holder, credit
      such aggregate number of shares of Common Stock to which the Holder shall be
      entitled to the Holder’s or its designee’s balance account with DTC through its
      Deposit Withdrawal Agent Commission system. If the number of Preferred Shares
      represented by the Preferred Stock Certificate(s) submitted for conversion
      pursuant to this Section 3(c) is
      greater than the number of Preferred Shares being converted, then the Company
      shall, as soon as practicable and in no event later than three (3) business
      days
      after receipt of the Preferred Stock Certificate(s) (the “Preferred
      Stock Delivery Date”)
      and at
      its own expense, issue and deliver to the Holder a new Preferred Stock
      Certificate representing the number of Preferred Shares not converted. The
      person or persons entitled to receive the shares of Common Stock issuable upon
      a
      conversion of Preferred Shares shall be treated for all purposes as the record
      holder or holders of such shares of Common Stock on the Conversion
      Date.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    (d) Anti-Dilution
      Provisions.
      The
      Conversion Price in effect at any time and the number and kind of securities
      issuable upon conversion of the Preferred Shares shall be subject to adjustment
      from time to time upon the happening of certain events as follows:

     

    (i)
      Adjustment
      for Stock Splits and Combinations.
      If the
      Company at any time or from time to time on or after the Original Issuance
      Date
      effects a subdivision of the outstanding Common Stock, the Conversion Price
      then
      in effect immediately before that subdivision shall be proportionately
      decreased, and conversely, if the Company at any time or from time to time
      on or
      after the Original Issuance Date combines the outstanding shares of Common
      Stock
      into a smaller number of shares, the Optional Conversion Price then in effect
      immediately before the combination shall be proportionately increased. Any
      adjustment under this Section
      3(d)(i) shall
      become effective at the close of business on the date the subdivision or
      combination becomes effective.

     

    (ii)
      Adjustment
      for Certain Dividends and Distributions.
      If the
      Company at any time or from time to time on or after the Original Issuance
      Date
      makes or fixes a record date for the determination of holders of Common Stock
      entitled to receive, a dividend or other distribution payable in additional
      shares of Common Stock, then and in each such event the Conversion Price then
      in
      effect shall be decreased as of the time of such issuance or, in the event
      such
      record date is fixed, as of the close of business on such record date, by
      multiplying the Conversion Price then in effect by a fraction (1) the numerator
      of which is the total number of shares of Common Stock issued and outstanding
      immediately prior to the time of such issuance or the close of business on
      such
      record date and (2) the denominator of which shall be the total number of shares
      of Common Stock issued and outstanding immediately prior to the time of such
      issuance or the close of business on such record date plus the number of shares
      of Common Stock issuable in payment of such dividend or distribution;
provided,
      however,
      that if
      such record date is fixed and such dividend is not fully paid or if such
      distribution is not fully made on the date fixed therefor, the Conversion Price
      shall be recomputed accordingly as of the close of business on such record
      date
      and thereafter the Conversion Price shall be adjusted pursuant to this
Section 3(d)(ii)
      as of
      the time of actual payment of such dividends or distributions.

     

    (iii)
      Adjustments
      for Other Dividends and Distributions.
      In the
      event the Company at any time or from time to time on or after the Original
      Issuance Date makes, or fixes a record date for the determination of holders
      of
      Common Stock entitled to receive, a dividend or other distribution payable
      in
      securities of the Company other than shares of Common Stock, then and in each
      such event provision shall be made so that the Holders of Preferred Shares
      shall
      receive upon conversion thereof, in addition to the number of shares of Common
      Stock receivable thereupon, the amount of securities of the Company which they
      would have received had their Preferred Shares been converted into Common Stock
      on the date of such event and had they thereafter, during the period from the
      date of such event to and including the conversion date, retained such
      securities receivable by them as aforesaid during such period, subject to all
      other adjustments called for during such period under this Section 3(f)
      with
      respect to the rights of the Holders of the Preferred Shares.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (iv)
      Adjustment
      for Reclassification, Exchange and Substitution.
      In the
      event that at any time or from time to time on or after the Original Issuance
      Date, the Common Stock issuable upon the conversion of the Preferred Shares
      is
      changed into the same or a different number of shares of any class or classes
      of
      stock, whether by recapitalization, reclassification or otherwise (other than
      a
      subdivision or combination of shares or stock dividend or a reorganization,
      merger, consolidation or sale of assets, provided for elsewhere in this
Section 3(d)),
      then
      and in any such event each Holder of Preferred Shares shall have the right
      thereafter to convert such stock into the kind and amount of stock and other
      securities and property receivable upon such recapitalization, reclassification
      or other change, by holders of the maximum number of shares of Common Stock
      into
      which such Preferred Shares could have been converted immediately prior to
      such
      recapitalization, reclassification or change, all subject to further adjustment
      as provided herein.

     

    (v)
      Reorganizations,
      Mergers, Consolidations or Sales of Assets.
      If at
      any time or from time to time on or after the Original Issuance Date there
      is a
      capital reorganization of the Common Stock (other than a recapitalization,
      subdivision, combination, reclassification or exchange of shares provided for
      elsewhere in this Section 3(d))
      or a
      merger or consolidation of the Company with or into another corporation, or
      the
      sale of all or substantially all of the Company’s properties and assets to any
      other person, then, as a part of such reorganization, merger, consolidation
      or
      sale, provision shall be made so that the Holders of the Preferred Shares shall
      thereafter be entitled to receive upon conversion of the Preferred Shares the
      number of shares of stock or other securities or property to which a holder
      of
      the number of shares of Common Stock deliverable upon conversion would have
      been
      entitled on such capital reorganization, merger, consolidation, or sale. In
      any
      such case, appropriate adjustment shall be made in the application of the
      provisions of this Section 3(d)
      with
      respect to the rights of the Holders of the Preferred Shares after the
      reorganization, merger, consolidation or sale to the end that the provisions
      of
      this Section 3(d)
      (including adjustment of the Conversion Price then in effect and the number
      of
      shares purchasable upon conversion of the Preferred Shares) shall be applicable
      after that event and be as nearly equivalent as is practicable.

     

    (e)
      No
      Impairment.
      The
      Company will not, by amendment of its Certificate of Incorporation or through
      any reorganization, transfer of assets, consolidation, merger, dissolution,
      issue or sale of securities or any other voluntary action, avoid or seek to
      avoid the observance or performance of any of the terms to be observed or
      performed hereunder by the Company but will at all times in good faith assist
      in
      the carrying out of all the provisions of this Section 3
      and in
      the taking of all such action as may be necessary or appropriate in order to
      protect the conversion rights of the Holders of the Preferred Shares against
      impairment.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (f) 
      Certificate as to Adjustments.
      Upon
      the occurrence of each adjustment or readjustment of the Conversion Price
      pursuant to this Section 3,
      the
      Company at its expense shall promptly compute such adjustment or readjustment
      in
      accordance with the terms hereof and furnish to each Holder of Preferred Shares
      a certificate setting forth such adjustment or readjustment and showing in
      detail the facts upon which such adjustment or readjustment is based. The
      Company shall, upon the written request at any time of any Holder of Preferred
      Shares, furnish or cause to be furnished to such Holder a like certificate
      setting forth (i) such adjustments and readjustments, (ii) Conversion
      Price at the time in effect, and (iii) the number of shares of Common Stock
      and the amount, if any, of other property which at the time would be received
      upon the conversion of the Preferred Shares.

     

    (g) Status
      of Converted Stock.
      In the
      event any Preferred Shares shall be converted pursuant to Section 3
      hereof,
      the Preferred Shares so converted shall be canceled and shall not be reissued
      as
      Preferred Shares.

     

    (h) Stock
      Purchase Rights.
      If at
      any time or from time to time, the Company grants or issues to the record
      holders of the Common Stock any options, warrants or rights (collectively,
      “Stock
      Purchase Rights”)
      entitling any holder of Common Stock to purchase Common Stock or any security
      convertible into or exchangeable for Common Stock or to purchase any other
      stock
      or securities of the Company, the Holders of Preferred Shares shall be entitled
      to acquire, upon the terms applicable to such Stock Purchase Rights, the
      aggregate Stock Purchase Rights which such Holders of Preferred Shares could
      have acquired if they had been the record holder of the maximum number of shares
      of Common Stock issuable upon conversion of their Preferred Shares on both
      (x) the record date for such grant or issuance of such Stock Purchase
      Rights, and (y) the date of the grant or issuance of such Stock Purchase
      Rights.

     

    (4) Assumption
      and Provision Upon Organic Change.
      Prior
      to the consummation of any Organic Change (as defined below), the Company shall
      make appropriate provision to ensure that each of the Holders of the Preferred
      Shares will thereafter have the right to acquire and receive in lieu of or
      in
      addition to (as the case may be) the shares of Common Stock immediately
      theretofore acquirable and receivable upon the conversion of such Holder’s
      Preferred Shares such shares of stock, securities or assets that would have
      been
      issued or payable in such Organic Change with respect to or in exchange for
      the
      number of shares of Common Stock which would have been acquirable and receivable
      upon the conversion of such Holder’s Preferred Shares into Common Stock
      immediately prior to such Organic Change. The
      following shall constitute an “Organic
      Change:”
any
      recapitalization, reorganization, reclassification, consolidation or merger,
      sale of all or substantially all of the Company’s assets to another Person or
      other transaction which is effected in such a way that holders of Common Stock
      are entitled to receive (either directly or upon subsequent liquidation) stock,
      securities or assets with respect to or in exchange for Common
      Stock.

     

    (5) Reservation
      of Authorized Shares.
      The
      Company shall, so long as any of the Preferred Shares are outstanding, take
      all
      action necessary to reserve and keep available out of its authorized and
      unissued Common Stock, solely for the purpose of effecting the conversion of
      the
      Preferred Shares, 100% of such number of shares of Common Stock as shall from
      time to time be sufficient to effect the conversion of all of the Preferred
      Shares then outstanding.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (6) Liquidation,
      Dissolution, Winding-Up. In
      the
      event of any Liquidation (as defined below) of the Company, the Holders of
      the
      Preferred Shares shall be entitled to receive out of the assets of the Company
      legally available for distribution therefrom (the “Liquidation
      Funds”),
      before any amount shall be paid to the holders of any of the capital stock
      of
      the Company of any class junior in rank to the Preferred Shares in respect
      of
      the preferences as to the distributions and payments on a Liquidation of the
      Company, an amount per Preferred Share equal to the sum of (i) the Stated Value,
      (ii) four (4%) percent of the Stated Value, calculated from the Original
      Issuance Date through and including the date the Liquidation Funds are paid
      to
      the Holders of the Preferred Shares, plus (iii) all
      dividends, if any, which have accrued or are payable under Section 8
      hereof, but have not been paid and received by the Holders of the Preferred
      Shares, up to and including the date full payment is tendered to the Holder
      of
      such Preferred Share with respect to such Liquidation (collectively, the
“Non
      Change of Control Liquidation Preference”);
      provided,
      however,
      that
      notwithstanding anything to the contrary provided herein or elsewhere, in the
      event that a Liquidation is caused as a result of a Change of Control (as
      defined below), each Holder of Preferred Shares shall be entitled to receive
      in
      addition to the Non Change of Control Liquidation Preference, such additional
      amounts that each such Holder would have received in the Liquidation, had it
      converted its Preferred Stock into Common Stock immediately prior to the
      Liquidation. If, upon any Liquidation, the Liquidation Funds are insufficient
      to
      pay, issue or deliver the full amount due to the Holders of Preferred Shares
      and
      holders of shares of other classes or series of preferred stock of the Company
      that are expressly provided for as of equal rank with the Preferred Shares
      as to
      payments of Liquidation Funds (the “Pari
      Passu Shares”),
      then
      each holder of Preferred Shares and Pari Passu Shares shall receive a percentage
      of the Liquidation Funds equal to the full amount of Liquidation Funds payable
      to such holder as a liquidation preference, in accordance with their respective
      Certificate of Designation of Preferences Rights and Limitations, as a
      percentage of the full amount of Liquidation Funds payable to all holders of
      Preferred Shares and Pari Passu Shares. No Holder of Preferred Shares shall
      be
      entitled to receive any amounts with respect thereto upon any Liquidation other
      than the amounts provided for herein; provided that a Holder of Preferred Shares
      shall be entitled to all amounts previously accrued with respect to amounts
      owed
      hereunder. The form of consideration in which the Liquidation Preference is
      to
      be paid to the Holders of the Preferred Shares as provided in this Section (6)
      shall be
      the form of consideration received by the Company or the other holders of the
      Company’s capital stock, as the case may be.

     

    “Liquidation”
means
      any of the following: (i) any liquidation, dissolution or winding up of the
      Company, whether voluntary or involuntary, (ii) filing for bankruptcy pursuant
      to applicable federal and/or state laws, (iii) any actions that directly and/or
      indirectly may be reasonably construed as steps in taking the Company private,
      including, but not limited to, failure to file SEC Reports required by
      applicable SEC rules and regulations in a timely fashion, the Company, any
      affiliate of the Company and/or any person at the direct and/or indirect request
      of the Company buying shares of issued and outstanding Company Stock (with
      the
      exception of such a transaction between the Company and James N. Jannello,
      which
      is not in excess of fifty percent (50%) of his holdings of Common Stock, in
      the
      event of the Company listing its securities on the
      London Stock Exchange Alternative Investment Market (“AIM”)),
      the
      filing of a Form 15, the Common Stock no longer is eligible for quotation on
      the
      NASD Bulletin Board, the Company’s Board of Directors and/or shareholders
      meeting and/or through resolutions, adopts or calls a meeting authorizing the
      Company to undertake any of the above such actions (“Going
      Private Actions”),
      or
      (iv) any Change of Control, provided,
      however, that transactions authorized by the Company’s Board of Directors or
      shareholders with respect to causing the Company’s issued and outstanding Common
      Stock, and the shares of Common Stock underlying the Preferred Shares, to be
      listed on the
      AIM,
      which result in the filing of a Form 15, cessation of the filing of SEC Reports
      and cessation of eligibility for quotation the NASD
      Bulletin Board,
      will not be construed to constitute Going Private Actions, Liquidation or a
      Change of Control as defined herein.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    “Change
      of Control”
means
      (i) a change in the voting control of the Company such that any one person,
      entity or “group” (as contemplated by Rule 13d-5(b)(1) under the Securities
      Exchange Act of 1934, as amended) acquires from the Company in one or more,
      including a series of, transactions the right to cast greater than 50% of votes
      eligible to be cast by all holders of capital stock of the Company in the
      election of directors of the Company, provided that such transaction is approved
      by the Board or (ii) any merger or consolidation of the Company with or
      into another entity or any sale of all or substantially all of the assets of
      the
      Company.

     

    (7) Preferred
      Rank.
      All
      shares of Common Stock shall be of junior rank to all Preferred Shares in all
      respects as to the preferences as to distributions and payments upon the
      liquidation, dissolution and winding up of the Company. The rights of the shares
      of Common Stock shall be subject to the preferences and relative rights of
      the
      Preferred Shares. For so long as any Preferred Shares remain outstanding, the
      Company shall not, without the express written consent of Holders owning no
      less
      than a majority of the aggregate Stated Value of the then issued and outstanding
      Preferred Shares (a) create or authorize any other class or series of capital
      stock, ranking pari
      passu
      and/or
      senior in any respect to the Preferred Shares, or (b) issue any indebtedness
      ranking pari
      passu
      and/or
      senior in respect to the Preferred Stock.

     

    (8) Dividends;
      Participation. Each
      Preferred Share shall accrue and be paid a dividend at the rate of three (3%)
      percent per annum of the Stated Value, payable quarterly in arrears on January
      1st,
      April
      1st,
      July
      1st
      and
      October 1st
      of
      each
      year and for such whole year (or portion thereof) that such Preferred Share
      is
      issued and outstanding. The dividend payments shall be made in either cash
      or at
      the option of the Company through the issuance of additional Preferred Shares
      in
      such amount of Preferred Shares equal to the quotient of (i) the dividend amount
      payment then due, divided by (ii) the Stated Value of a share of Preferred
      Stock;. So long as any Preferred Shares shall be outstanding, no dividend,
      whether in cash, securities or property, shall be paid or declared, nor shall
      any other distribution be made, on the Common Stock or any other security junior
      to the Preferred Shares as to dividend rights, unless (A) all dividends, if
      any,
      payable with respect to the Preferred Shares shall have been declared and paid,
      and (B) the Company shall also declare and pay to the Preferred Shares, at
      the
      same time it declares and pays such dividend or distribution to the holders
      of
      Common Stock, the dividend or distribution that would have been declared and
      paid with respect to the Conversion Shares had all of the Preferred Shares
      been
      converted into Conversion Shares immediately prior to the record date for such
      dividend or distribution, or if no record date is fixed, the date as of which
      the Company pays to the record holders of Common Stock such dividend or
      distribution.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (9) Vote
      to Issue, or Change the Terms of, Preferred Shares.
      The
      affirmative vote of the Holders owning not less than a majority of the aggregate
      Stated Value of the then issued and outstanding Preferred Shares at a meeting
      duly called for such purpose, or by the written consent without a meeting of
      the
      Holders of not less than a majority of the then outstanding Preferred Shares
      shall be required for any direct and/or indirect (i) Going Private Actions,
      (ii)
      Liquidation, and/or (iii) any amendment to this Certificate of Designation
      of
      Preferences, Rights and Limitations of Series A Convertible Preferred Stock
      (“Certificate
      of Designation”),
      the
      Company’s Certificate of Incorporation or Bylaws which would directly and/or
      indirectly amend, alter, change, repeal or otherwise adversely affect any of
      the
      powers, designations, preferences and rights of the Preferred
      Shares.

     

    (10) Lost
      or Stolen Certificates.
      Upon
      receipt by the Company of evidence reasonably satisfactory to the Company of
      the
      loss, theft, destruction or mutilation of any Preferred Stock Certificates
      representing the Preferred Shares, and, in the case of loss, theft or
      destruction, of any indemnification undertaking by the Holder to the Company
      in
      customary form and, in the case of mutilation, upon surrender and cancellation
      of the Preferred Stock Certificate(s), the Company shall execute and deliver
      new
      preferred stock certificate(s) of like tenor and date.

     

    (11) Notices.
      Whenever
      notice is required to be given under this Certificate of Designation, unless
      otherwise provided herein, such notice shall be given in writing and will be
      mailed by certified mail, return receipt requested, or delivered against receipt
      to the party to whom it is to be given (a) if to the Company, at the Company’s
      executive offices or (b) if to a Holder, at the address set forth on Company’s
      books and records.

     

    IN
      WITNESS WHEREOF,
      Janel
      World Trade Ltd. has caused this Certificate to be signed by James N. Jannello,
      its Executive Vice President and Chief Executive Officer on this 10th day of
      January, 2007.

    

    JANEL
      WORLD TRADE LTD.

    

    By: 
      /s/
      James N. Jannello

    Name:
      James N. Jannello

    Title:
      Executive Vice President and Chief
      Executive Officer

     

    
      
         

      

      
        8

        
          

        

      

      
         

    

    EXHIBIT
      I

     

    JANEL
      WORLD TRADE LTD.

     

    CONVERSION
      NOTICE

     

    _____________________________________

    

     

    Reference
      is made to the Certificate of Designation of Preferences, Rights and Limitations
      of Series A Convertible Preferred Stock of Centuria Corporation (the
“Certificate”).
      In
      accordance with and pursuant to the Certificate of Designation, the undersigned
      hereby elects to convert the number of shares of Series A Convertible
      Preferred Stock, par value $0.001 per share (the “Preferred
      Shares”),
      of
      Janel World Trade Ltd., a Nevada corporation (the “Company”),
      indicated below into Company shares of common stock or Survivor Common Stock,
      as
      defined in the Certificate, as applicable, as of the date specified below
      (collectively, the “Common
      Stock”).

     

    Date
      of
      Conversion: ______________________________________________________

     

    Number
      of
      Preferred Shares to be converted: 
___________________________________

     

    Stock
      certificate number(s) of Preferred Shares to be converted: 
_____________________

     

    Please
      deliver the Common Stock into which the Preferred Shares are being converted
      to
      the following address:

     

    
      _____________________________________

       

      
        _____________________________________

         

        
          _____________________________________

           

          
            _____________________________________

             

          

        

      

    

     

    
      
         

      

      
        9

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