Document:

<PAGE>   1
                                                                     EXHIBIT 4.7

                              AMENDED AND RESTATED
                       RECEIPT, ASSIGNMENT AND CONVEYANCE
                             OF NET REVENUE INTEREST

     THIS AMENDED AND RESTATED RECEIPT, ASSIGNMENT AND CONVEYANCE OF NET REVENUE
INTEREST (this "AGREEMENT") is made as of the ____ day of ______, 2000, by Grant
Geophysical, Corp., a Texas corporation, with its mailing address at 16850 Park
Row, Houston, Texas 77084, ("GRANT"), in favor of Elliott Associates, L.P., a
Delaware limited partnership, with its mailing address at 712 Fifth Avenue, New
York, New York, 10019 ("ELLIOTT").

                                    RECITALS

     A. Grant Geophysical, Inc., a Delaware corporation, and Elliott entered
into that certain Receipt, Assignment and Conveyance of Net Revenue Interest
dated August 14, 2000 (the "ORIGINAL AGREEMENT").

     B. Pursuant to that certain Assignment and Assumption Agreement dated
August ___, 2000, Grant Geophysical, Inc. assigned all of its rights and
obligations in, to and under the Original Agreement to Grant.

     C. Grant and Elliott now desire to amend the Original Agreement, and, as
amended, restate the Original Agreement in its entirety.

     NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

     1. Grant and Conveyance.

          (a) Grant of Net Revenue Interest. Grant hereby grants, bargains,
sells, assigns, conveys, transfers and sets over to Elliott, a net revenue
interest, as more particularly described in Section 4 below (the "NET REVENUE
INTEREST") in and to the Data (hereinafter defined) measured by, and hereinafter
defined as Grant's net revenue, if any, that is realized from the sale or
license of the Data, as such net revenue is computed as provided herein. TO HAVE
AND TO HOLD the Net Revenue Interest, together with all rights, privileges, and
options related thereto, unto Elliott, its successors and assigns forever,
subject to the terms, conditions, exceptions, reservations, covenants, and
agreements herein set forth.

          (b) Purchase Price. The purchase price of the Net Revenue Interest
shall be the sum total of the amounts paid by Elliott to Grant as consideration
for the Net Revenue Interest (the "AGGREGATE PURCHASE PRICE"). Elliott is hereby
authorized to record the date and amount of each such payment made by Elliott to
Grant, such recordation may be made by an appropriate entry into Elliott's
computer records, and any such recordation shall constitute prima facie evidence
of the accuracy of the information so recorded; provided that the failure to
make any such recordation or any error in such

<PAGE>   2
recordation shall not affect the calculation of the Aggregate Purchase Price.
Upon its receipt of each such payment, Grant shall execute and deliver a letter
of acknowledgment confirming its receipt of such payment in the form attached
hereto as Exhibit A.

          (c) "Data" Defined. "DATA" means all of Grant's right, title and
interest in and to the multiclient geophysical and geological data (regardless
of their form or the medium on which they are stored, printed or displayed) shot
onshore in the continental United States.

          (d) Title Warranty. Grant represents and warrants to Elliott that the
Net Revenue Interest conveyed hereby is free and clear of any mortgages, deeds
of trust, voluntary or contractual or statutory liens, pledges, security
interests, charges, conditional sales or other title retention documents, or
other encumbrances or burdens, and Grant hereby binds itself, its successors and
assigns to warrant and forever defend the title to the Net Revenue Interest
herein granted, conveyed, assigned, and transferred unto Elliott, its successors
and assigns, against the lawful claims and demands of every Person whomsoever
claiming or to claim the same or any part thereof, by, through or under Grant.

     2. Term of Net Revenue Interest. The Net Revenue Interest will be effective
as of the date hereof (the "EFFECTIVE DATE") and will remain in effect until
such time as Elliott has earned and received revenue attributable to the Net
Revenue Interest in an amount equal to the Aggregate Purchase Price plus the
Preferred Return (as hereinafter defined), at which time the Net Revenue
Interest shall terminate. As used herein, "PREFERRED RETURN" shall mean, on any
given day, an amount equal to the difference between the Aggregate Purchase
Price and any revenue attributable to the Net Revenue Interest earned and
received by Elliott as of such day multiplied by the rate of one percent (1%)
per month for the number of days between the Effective Date and such day.

     3. Provisions and Covenants Applicable to the Net Revenue Interest. The
following provisions and covenants shall apply to the Net Revenue Interest.

          (a) Elliott Not Liable For Expenses. Elliott shall never have control
or management authority with respect to the Data and shall never personally be
responsible for payment of any part of the costs and expenses charged against
the Net Revenue Account (hereinafter defined) nor for any other liabilities
related to the Data including, but not limited to, liabilities incurred by
anyone in collecting, developing, processing or storing the Data, before or
after the Effective Date, and Grant hereby agrees to indemnify and save Elliott
harmless from and against any and all such responsibility and liability;
provided, however, all such costs and expenses incurred and allowed as herein
provided shall nevertheless be charged against the Net Revenue Account as and to
the extent herein provided. Nothing herein shall ever be construed to create a
partnership, joint venture, mining partnership or association between Grant and
Elliott.

          (b) Access, Inspection and Information. Elliott and its
representatives shall at the risk and expense of Elliott have access at all
reasonable times to the Data and to all activities of Grant related to the Data,
and the right to observe all activities related thereto. Grant shall on

                                       2
<PAGE>   3
reasonable request promptly furnish Elliott with any and all information in
Grant's possession and pertaining to the Data. This Section 3(b) is not limited
by, nor does it in any way limit Section 4(a).

          (c) Assignment by Grant. Except as permitted by that certain Loan and
Security Agreement dated May 11, 1999 between Grant, Foothill Capital
Corporation, as agent, and certain financial institutions named therein, Grant
shall not (i) sell, assign (by operation of law or otherwise), transfer,
exchange, dispose of or license all or any part of the Data; or (ii) grant any
lien or encumbrance with respect to all or any part of the Data, without the
express written consent of Elliott.

     4. Net Revenue Account.

          (a) Books and Records. Concurrently herewith Grant shall establish,
and until the Net Revenue Interest terminates, Grant shall maintain a "NET
REVENUE ACCOUNT" in accordance with the terms of this instrument and good
accounting practices. The books of account and records of the Net Revenue
Account shall at all reasonable times be open for examination, inspection,
copying and audit by Elliott and its representatives at Elliott's expense.

          (b) Credits. The Net Revenue Account shall be credited with the
following insofar and to the extent the same are properly allocable to the Data,
in each case attributable to the period of time after the Effective Date:

               (i) an amount equal to the interest of Grant in the gross
receipts (including both cash and non-cash consideration) for any sale or
license of all or any part of the Data received by Grant after the Effective
Date;

               (ii) an amount equal to the interest of Grant in the proceeds of
all insurance collected by Grant (or for it by a third party under any agreement
pertaining to the Data) on account of its ownership of the Data as a consequence
of the loss of or damage to the Data or any part thereof or interest therein;
and

               (iii) an amount equal to the interest of Grant in all other
monies and things of value received by or inuring to the benefit of Grant by
virtue of its ownership of the Data.

          (c) Debits. The Net Revenue Account shall be charged with an amount
equal to the actual out-of-pocket costs and expenses to Grant of all direct
labor, transportation, marketing, and general and administrative costs that are
reasonable and necessary for marketing, licensing and/or selling the Data, but
expressly excluding interest, fees, costs or other charges for borrowed funds,
insofar and to the extent that any such costs and expenses

                                       3
<PAGE>   4
are properly allocable to the Data, in each case attributable to the period of
time after the Effective Date.

          (d) Calculation of Elliott's Net Revenue Interest. The amount payable
to Elliott in respect of its ownership of the Net Revenue Interest shall be
calculated and paid to Elliott out of the Net Revenue Account no later than
three (3) business days following receipt of funds on the license or sale of
Data.

          (e) Statements and Payments. As soon as reasonably possible (but in
all events not more than fifteen (15) days) after the due date of each payment
hereunder, Grant shall furnish to Elliott a detailed statement in a form
acceptable to Elliott clearly reflecting the basis of the payments hereunder.

          (f) Direct Payment. Until otherwise instructed in writing by Elliott,
Grant agrees, for the account of Elliott and as Elliott's agent, in trust, to
collect the proceeds of any sale or license of all or any part of the Data and
to remit such amounts as are attributable to the Net Revenue Interest and are
owing to Elliott in accordance with this Section 4.

          (g) Late Payment. Any amount not paid to Elliott with respect to the
Net Revenue Interest when due shall bear interest at the rate of fifteen percent
(15%) per annum.

     5. General Provisions.

          (a) Notices. All notices, communications and payments required or
permitted to be given hereunder shall be deemed to be properly delivered the
earlier of the date when actually delivered or three (3) days after being
deposited in the U.S. mail as certified mail, return receipt requested, with
adequate prepaid postage affixed thereto at the addresses provided above or such
other address as a party hereto shall designate by giving the other party at
lease fifteen (15) days written notice thereof.

     (c) Successors and Assigns. All agreements and conditions between the
parties hereto shall extend to and be binding upon their respective heirs,
permitted successors and permitted assigns.

     (d) Headings. The headings of the articles and sections of this Agreement
are for convenience of reference only and shall not limit or otherwise affect
any of the terms or provisions of this Agreement.

     (e) Unenforceable or Inapplicable Provisions. If any provision of this
Agreement is invalid or unenforceable in any jurisdiction, the other provisions
hereof shall remain in full force and effect in such jurisdiction and the
remaining provisions shall be liberally construed in order to carry out the

                                       4
<PAGE>   5
intent of this Agreement. The invalidity of any provision of this Agreement in
any jurisdiction shall not affect the validity and enforceability of such
provision in any other jurisdiction.

     (f) Counterparts. This Agreement may be executed in several original
counterparts. Each counterpart shall be deemed to be an original for all
purposes, and all counterparts shall together constitute but one and the same
instrument.

     (g) References. References made in this Agreement, including use of a
pronoun, shall be deemed to include where applicable, masculine, feminine,
singular or plural, individuals, and other persons. As used in this Agreement,
"Person" shall mean an individual, corporation, partnership, limited liability
company, association, joint-stock company, trust or trustee thereof, estate of
executor thereof, unincorporated organization, joint venture, court, government
unit or any agency or subdivision thereof, or any other legally recognizable
entity.

     (h) Choice of Law. This Agreement shall be construed under and governed by
the laws of the State of New York without regard to the principles of conflicts
of law.

     (i) Modifications. No modifications of this Agreement shall be effective
unless reduced to writing and duly executed by the parties hereto. No course of
dealing between the parties prior or subsequent to the date of this Agreement
shall be construed to change, modify, amend, alter or waive the terms hereof.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first written above.

WITNESSES:                                  GRANT GEOPHYSICAL, INC.

                                            By:
---------------------------------              ---------------------------------
                                            Name:
                                                 -------------------------------
---------------------------------           Title:
                                                  ------------------------------

WITNESSES:                                  ELLIOTT ASSOCIATES, L.P.

                                            By:  Elliott Capital Advisors, L.P.,
---------------------------------                General Partner

                                       5
<PAGE>   6
                                            By:  Braxton Associates, Inc.,
---------------------------------                General Partner

                                            By:
                                               ---------------------------------
                                            Name:  Elliot Greenberg
                                            Title: Vice President

                                       6
<PAGE>   7
                                                                       EXHIBIT A

                          Form of Acknowledgment Letter

                               [Grant Letterhead]

Elliott Associates, L.P.
712 Fifth Avenue
New York, New York 10019

Attn: _______________

                  Re:  Receipt of Purchase Price

Dear _______________,

         Reference is made to that certain Amended and Restated Receipt,
Assignment and Conveyance of Net Revenue Interest dated _____________[to be
completed when available] (the "ASSIGNMENT") between Grant Geophysical, Inc.
("GRANT") and Elliott Associates, L.P. ("ELLIOTT").

         This letter shall confirm Grant Geophysical, Inc.'s receipt of
____________________ ($______________) on [date of receipt] in connection with
the assignment of the Net Revenue Interest (as defined in the Assignment).

                                            Very truly yours,

                                            GRANT GEOPHYSICAL, INC.

                                            [Name]
                                            [Title]

                                       7<PAGE>

Exhibit 10.1

                           ASSET PURCHASE AGREEMENT

                                    between

                                IBUYLINE, INC.

                                      and

                     PHOENIX RESOURCES TECHNOLOGIES, INC.

                         Dated as of October 31, 2000
<PAGE>

                               TABLE OF CONTENTS
<TABLE>
<S>                                                                           <C>
ARTICLE I
 ACQUISITION OF IBL ASSETS AND LIABILITIES AND ISSUANCE OF PRTI SECURITIES..   1

ARTICLE II
 REPRESENTATIONS AND WARRANTIES OF IBL......................................   3

ARTICLE III
 REPRESENTATIONS AND WARRANTIES OF PRTI.....................................   8

ARTICLE IV
 CONDITIONS TO THE OBLIGATIONS OF THE PARTIES...............................  11

ARTICLE V
 COVENANTS OF PRTI..........................................................  15

ARTICLE VI
 COVENANTS OF IBL...........................................................  17

ARTICLE VII
 TERMINATION................................................................  20

ARTICLE VIII
 MISCELLANEOUS..............................................................  22

ARTICLE IX
 DEFINITIONS................................................................  24

EXHIBIT A -- ACQUIRED ASSETS................................................  28
</TABLE>

                                       1
<PAGE>

     THIS ASSET PURCHASE AGREEMENT (this "Agreement") is entered into as of
                                          ---------
October 31, 2000, by and between IBUYLINE, INC., a California corporation
("IBL"), and PHOENIX RESOURCES TECHNOLOGIES, INC., a Nevada corporation
  ---
("PRTI").
  ----

                                  WITNESSETH

     WHEREAS, PRTI desires to acquire certain of the assets of IBL, and IBL
desires to sell and assign such assets to PRTI in exchange for Common Stock of
PRTI, all on the terms and conditions hereinafter set forth.

     NOW, THEREFORE, in consideration of the respective representations,
warranties, covenants and agreements set forth herein, the parties hereto,
intending to be legally bound hereby, agree as follows:

                                   ARTICLE I
                 ACQUISITION OF IBL ASSETS AND LIABILITIES AND
                          ISSUANCE OF PRTI SECURITIES

     1.1  Definitions.  Certain capitalized terms used in the agreement are
defined in Article IX hereof; reference to a "Schedule" or "Exhibit" is, unless
                                              --------      -------
otherwise specified, to a Schedule or Exhibit to this Agreement.

     1.2  Purchase and Sale of Assets.

          (a)  At the Closing (as that term is defined in Section 1.5), upon the
               terms and conditions herein set forth, PRTI shall purchase from
               IBL, and IBL shall sell, transfer, convey and deliver to PRTI, in
               exchange for the Acquired Shares as specified in Section 1.4, all
               of those tangible and intangible assets of IBL which are
               specifically identified in Exhibit A to this Agreement (the
               "Acquired Assets") and the assumption by PRTI of the Assumed
               Liabilities as specified in Section 1.3.

          (b)  This Agreement shall not constitute an agreement to assign or
               transfer any government approvals, instrument, contract, lease,
               permit or other agreement or arrangement, or any claim, right or
               benefit arising thereunder or resulting therefrom, if an
               assignment or transfer or an attempt to make such an assignment
               or transfer without the consent of a third party would constitute
               a breach or violation thereof or affect adversely the rights of
               PRTI or IBL, and any transfer or assignment or any interest under
               any such instrument, contract, lease, permit or other agreement
               or arrangement that requires the consent of a third party shall
               be made subject to such consent or approval being obtained. In
               the

                                       1
<PAGE>

               event any such consent or approval is not obtained on or prior to
               the Closing Date, IBL shall continue to use all reasonable
               efforts to obtain such approval or consent after the Closing Date
               until such time as such consent or approval has been obtained,
               and IBL will cooperate with PRTI in any lawful and economically
               reasonable arrangement to provide that PRTI shall receive the
               benefits under any such instrument, Contract, lease, permit or
               other agreement or arrangement, including performance by IBL as
               agent, if economically feasible, provided that PRTI shall
               undertake to pay or satisfy the corresponding liabilities for the
               enjoyment of such benefit to the extent PRTI would have been
               responsible therefor if such consent or approval had been
               obtained.

     1.3  Assumption of Liabilities.  PRTI will assume, and undertake to perform
and pay, all of the debts, liabilities and obligations of IBL listed in Exhibit
B hereto.  However, PRTI will not assume, or undertake to perform or pay, any
other debt, liability or obligation of IBL of any kind whatsoever.  The debts,
liabilities and obligations of IBL to be assumed by PRTI pursuant to this
Agreement are hereinafter called the "Assumed Liabilities".

     1.4  Issuance and Purchase of the Acquired Shares.  Subject to the terms
and conditions set forth herein, at the Closing, PRTI shall issue and sell to
IBL, and IBL shall purchase from PRTI in exchange for the Acquired Assets, six
hundred twenty five thousand (625,000) fully paid and nonassessable shares of
PRTI's restricted Common Stock (the "Acquired Shares") which shares are
                                     ---------------
restricted as described in Section 2.22 below.  The Acquired Shares shall be
paid to IBL as follows:  four hundred ninety five thousand (495,000) shares
shall be delivered to IBL at Closing and one hundred thirty thousand (130,000)
shares shall be placed in an escrow account for disposition in accordance with
the terms and conditions of that certain Escrow Agreement, of even date
herewith, between IBL, PRTI, and the Escrow Agent (the "Escrow Agreement") and
the indemnification provisions of Section 6.5 hereof.

     1.5  Closing.  The closing shall take place in person or by telecopier at
the offices of Duane, Morris & Heckscher LLP, 227 West Monroe Street, Suite
3400, Chicago, Illinois 60606, at 10:00 a.m. Chicago time, at a date and time as
will be agreed upon between IBL and PRTI (such closing being called the
"Closing" and such date and time being called the "Closing Date").  At the
 -------                                           ------------
Closing, (a) IBL shall deliver or cause to be delivered to PRTI such instruments
of sale, transfer, conveyance and assignment as PRTI may reasonably request to
evidence and confirm IBL's sale and transfer of the Acquired Assets and Assumed
Liabilities to PRTI; and (b) PRTI shall issue and deliver to IBL stock
certificates in definitive form, registered in the name of IBL, representing the
Acquired Shares being purchased by IBL as payment in full for the Acquired
Assets and Assumed Liabilities being purchased by PRTI under this Agreement.

                                       2
<PAGE>

                                  ARTICLE II
                     REPRESENTATIONS AND WARRANTIES OF IBL

     Subject in every respect to exceptions which are disclosed on the IBL
Schedules, IBL represents and warrants to PRTI that the statements contained in
this Article II are correct and complete as of the date of this Agreement and
will be correct and complete as of the Closing Date (as though made then and as
though the Closing Date were substituted for the date of this Agreement
throughout this Article II), except as set forth in the disclosure Schedules
described herein.

     2.1  Organization, Standing and Qualification.   IBL is a corporation duly
organized, validly existing and in good standing under the laws of its
jurisdiction of incorporation, and has all requisite corporate power and
authority to own or lease and operate its properties, to carry on its business
as currently conducted and as now proposed to be conducted, and to carry out the
transactions contemplated hereby.  IBL is duly qualified to do business as a
foreign corporation and is in good standing under the laws of the State of
California, and California is the only State in which the ownership or use of
the Acquired Assets require such qualification (except for the jurisdictions in
which failure to so qualify would not have a Material Adverse Effect upon the
Acquired Assets).

     2.2  Investment Company Status.  IBL is not an "investment company" within
the meaning of the Investment Company Act of 1940.

     2.3  Power and Authority.  IBL has the power and authority to execute and
deliver this Agreement, and upon satisfaction of all relevant conditions
specified in Article IV will have power and authority to execute and deliver all
instruments and documents required to be executed and delivered in connection
with this Agreement (collectively the "Transaction Documents") and to perform
                                       ---------------------
its obligations under the Transaction Documents.

     2.4  Noncontravention.  Neither the execution and the delivery of the
Transaction Documents nor the consummation of the transactions contemplated
thereby (including the assignments referred to in Article I above) in accordance
with the terms hereof will (i) violate any constitution, statute, regulation,
rule, injunction, judgment, order, decree, ruling, charge, or other restriction
of any government, governmental agency, or court to which IBL is subject, (ii)
violate any provision of the articles of incorporation or bylaws of IBL or (iii)
conflict with, result in a breach of, constitute a default under, result in the
acceleration of, create in any party the right to accelerate, terminate, modify,
or cancel, or require any notice under any agreement, contract, lease, license,
instrument, or other arrangement to which IBL is a party or by which it is bound
or to which any of its assets is subject (or result in the imposition of any
security interest upon any of its assets), except where the violation, conflict,
breach, default, acceleration, termination, modification, cancellation, failure
to give notice, or security interest has been

                                       3
<PAGE>

waived in writing or otherwise would not, individually or in the aggregate, (x)
adversely affect the legality, validity or enforceability of any of the
Transaction Documents or the transactions contemplated thereby, (y) have or
result in a material adverse effect on the Acquired Assets or (z) adversely
impair IBL's ability to perform fully on a timely basis its obligations under
any Transaction Document (any of (x), (y) or (z) a Material Adverse Effect).
Assuming satisfaction of all relevant conditions in Article IV, IBL does not
need to give any notice to, make any filing with, or obtain any authorization,
consent, or approval of any government or governmental agency in order for the
Parties to consummate the transactions contemplated by this Agreement (including
the assignments referred to in Article II above), except where the failure to
give notice, to file, or to obtain any authorization, consent, or approval would
not have a Material Adverse Effect.

     2.5  Validity.  This Agreement constitutes the legal, valid and binding
obligation of IBL, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, moratorium or other similar laws relating to
creditor's rights and general principles of equity and no representation is made
regarding the effect of laws relating to competition or antitrust.

     2.6  No Defaults.  Except as set forth in Schedule 2.6, IBL is not in
default: (a) under (i) its Organizational Documents, or (ii) any material
written, oral or implied contract to which IBL is a party and, to the best
Knowledge of IBL, the other party to such contract is not in default thereunder;
or (b) with respect to any order, writ, injunction or decree of any court or any
Government Entity which, in the aggregate, will, or could reasonably be expected
to, have a Material Adverse Effect on IBL's business, financial condition,
results of operations, prospects or Acquired Assets.

     2.7  Litigation.  Except as set forth in Schedule 2.7, there is no: (a)
litigation, action, suit, claim, proceeding or investigation pending or, to the
best of IBL's Knowledge, threatened against or affecting IBL, or any of its
properties or assets, at law or in equity, or before or by any Government
Entity; or (b) governmental inquiry pending or, to the best of IBL's Knowledge,
threatened against or affecting an IBL, including without limitation any inquiry
as to the qualification of IBL to hold or receive any license or permit, and, to
the best of IBL's Knowledge, there is no basis for any of the foregoing.  IBL
has not received any opinion or memorandum or legal advice from legal counsel to
the effect that it is exposed, from a legal standpoint, to any liability that
may be material to its business, prospects, financial condition, operations,
property or affairs, or which might call into question the validity of this
Agreement or any of the securities to be issued hereunder or any action taken or
to be taken pursuant hereto or thereto.  Furthermore, Schedule 2.7 sets forth
each instance in which IBL is (a) subject to any outstanding injunction,
judgment, order, decree, ruling, or charge or (b) a party to any action, suit,
proceeding, hearing, or investigation of, in, or before any court or quasi-
judicial or administrative agency of any federal, state, local, or foreign
jurisdiction, except where the injunction, judgment, order, decree, ruling,
action, suit, proceeding, hearing, or investigation would not have a Material
Adverse Effect on the Acquired Assets.  Except as set forth in Schedule 2.7,
there is no action or suit by IBL pending or threatened against others.

                                       4
<PAGE>

     2.8  Title to Properties; Encumbrances.

          (a)  Except as described in Schedule 2.8, IBL owns and has good and
               marketable title to, has a valid leasehold interest in, or holds
               a valid license for, the use and transfer of all of the Acquired
               Assets, and all of the Acquired Assets are free and clear of
               mortgages, pledges, security interests, liens, charges, claims,
               restrictions and other encumbrances, except for liens for current
               taxes not yet due and payable and minor imperfections of title,
               if any, not material in nature or amount and not materially
               detracting from the value or impairing the use of the Acquired
               Assets subject thereto.

          (b)  Except as described in Schedule 2.8, all of the Acquired Assets
               are in a good state of maintenance and repair. IBL is current
               with all lease and rental payments regarding the Acquired Assets.
               IBL enjoys peaceful and undisturbed possession under all leases
               which are included in the Acquired Assets, and all such leases
               are valid and subsisting in full force and effect without any
               default of IBL thereunder and, to the best of IBL's Knowledge,
               without any default thereunder of any other party thereto. To the
               Knowledge of IBL, no event has occurred and is continuing which,
               with due notice or lapse of time or both, would constitute a
               default or event of default by IBL under any such lease or
               agreement or by any other party thereto. IBL's possession of such
               property has not been disturbed and no claim has been asserted
               against IBL that is adverse to its rights in such leasehold
               interests.

     2.9  Environmental Matters. IBL has no Knowledge of any claim, has not
received any notice of any claim, and to IBL's Knowledge no proceeding has been
instituted raising any claim, against IBL or any of the Acquired Assets,
alleging any damage to the environment or violation of any Environmental Laws.
IBL has no Knowledge of any facts that would give rise to any claim, public or
private, of violation of Environmental Laws or damage to the environment
emanating from, occurring on or affecting the Acquired Assets or their use, and
IBL has not (a) stored any Hazardous Materials on any real properties which are
part of the Acquired Assets or (b) disposed of any Hazardous Materials in a
manner contrary to any Environmental Laws.

     2.10 Governmental Approvals. Except as provided in Schedule 2.10, no
registration or filing with, or consent or approval of or other action by, any
Government Entity is or will be necessary for the valid execution, delivery and
performance by IBL of this Agreement.

     2.11 Brokers. Except for the fee to be paid to ITG, no broker, investment
banker, finder, financial advisor or other Person is entitled to any broker's,
finder's, financial advisor's or

                                       5
<PAGE>

other similar fee or commission in connection with the transactions contemplated
by this Agreement based on arrangements made by or on behalf of IBL.

     2.12  Officers. To the Knowledge of IBL, no officer, employee or consultant
of IBL is now in violation of any term of any employment contract, patent
disclosure agreement, proprietary information agreement, noncompetition
agreement, nonsolicitation agreement, confidentiality agreement or any other
similar contract or agreement related to the Acquired Assets, or any restrictive
covenant relating to the right of any such officer, employee or consultant to be
employed or engaged by IBL because of the nature of the business conducted or to
be conducted by IBL or relating to the use of trade secrets or proprietary
information of others.

     2.13  Employees; Benefit Plans. IBL is not a party to any collective
bargaining agreement and is not a party to any pending or threatened labor
dispute. There is no employee of IBL whose employment is not terminable at will.
IBL has no employee benefit plans.

     2.14  Year 2000. IBL's computer system and software including all software
and applications which are part of the Acquired Assets, are able to accurately
process date data, including but not limited to, calculating, comparing and
sequencing from, into and between the twentieth century through year 1999, the
year 2000 and the twenty-first century, including leap year calculations. To the
Knowledge of IBL, it is not aware of any inability on the part of any service
provider to IBL to timely remedy such service provider's own deficiencies in
respect of the year 2000 problem.

     2.15  Tax Matters. Except as described in Schedule 2.15, there are no
encumbrances or tax liens on any of the Acquired Assets.

     2.16  Real Property. Prior to Closing, IBL will make available to PRTI
correct and complete copies of the leases and subleases (as amended to date)
which are part of the Acquired Assets. With respect to each such lease and
sublease, and except as otherwise disclosed in Schedule 2.16:

           (i)    the lease or sublease is legal, valid, binding, enforceable,
                  and in full force and effect;

           (ii)   the lease or sublease will continue to be legal, valid,
                  binding, enforceable, and in full force and effect on
                  identical terms following the consummation of the transactions
                  contemplated hereby;

           (iii)  to the best of IBL's Knowledge no party to the lease or
                  sublease is in breach or default, and no event has occurred
                  which, with notice or lapse of time, would constitute a breach
                  or default or permit termination, modification, or
                  acceleration thereunder;

                                       6
<PAGE>

           (iv)    to the best of IBL's Knowledge no party to the lease or
                   sublease has repudiated any provision thereof;

           (v)     to the best of IBL's Knowledge there are no disputes, oral
                   agreements, or forbearance programs in effect as to the lease
                   or sublease;

           (vi)    to the best of IBL's Knowledge with respect to each sublease,
                   the representations and warranties set forth in subsections
                   (i) through (v) above are true and correct with respect to
                   the underlying lease;

           (vii)   IBL has not assigned, transferred, conveyed, mortgaged,
                   deeded in trust, or encumbered any interest in the leasehold
                   or subleasehold, except for term financing existing as of the
                   date of this Agreement;

           (viii)  to the best of IBL's Knowledge all facilities leased or
                   subleased thereunder have received all approvals of
                   governmental authorities (including licenses and permits)
                   required in connection with the operation thereof and have
                   been operated and maintained in accordance with applicable
                   laws, rules, and regulations; and

           (ix)    all facilities leased or subleased thereunder are supplied
                   with utilities and other services necessary for the operation
                   of said facilities.

     2.17  Intellectual Property. Schedule 2.17 identifies (a) all trademarks,
patents, copyrights, each patent or registration which has been issued to IBL
with respect to any of the intellectual property which is included in the
Acquired Assets and any other intellectual property owned by IBL, (b) each
pending patent application or application for registration which IBL has made
with respect to any intellectual property included in the Acquired Assets, and
(c) each license, agreement, or other permission which IBL has granted to any
third party with respect to any of such intellectual property.

     2.18  Contracts. Schedule 2.18 lists all written contracts and other
written agreements to which IBL is a party the performance of which will involve
consideration in excess of $10,000. Prior to Closing, IBL will make available to
PRTI a correct and complete copy of each such contract or other agreement so
listed (as amended to date).

     2.19  Powers of Attorney. There are no outstanding powers of attorney
executed on behalf of IBL.

     2.20  Investor Status. IBL is an "accredited investor" within the meaning
of Rule 501 under the Securities Act.

                                       7
<PAGE>

     2.21  Sophistication. IBL has sufficient knowledge and experience in
investing in companies similar to PRTI in terms of PRTI's stage of development
so as to be able to evaluate the risks and merits of its investment in PRTI and
it is able financially to bear the risks thereof, and it has been afforded the
opportunity during the course of negotiating the transactions contemplated by
this Agreement to ask questions of, and to secure such information from, the IBL
and its officers and directors as it deems necessary to evaluate the merits of
entering into such transactions. All such questions have been answered
satisfactorily and IBL or its counsel have received and reviewed the due
diligence materials delivered to it/them by PRTI.

     2.22  Restrictions on Resale of Acquired Shares. IBL understands that the
Acquired Shares have not been registered under the Securities Act and are
restricted shares. IBL understands that no shares can be sold unless they are
first registered under the Securities Act or unless an exemption from such
registration is available.

     2.23  Investment Intent. IBL is acquiring the Acquired Shares for its own
account for investment only, and not as a nominee and not with a view towards
distribution of any part thereof, and that IBL has no present intention of
selling, granting any participation in, or otherwise distributing the same.

     2.24  Exemption from Registration. IBL understands that the Acquired Shares
have not been registered under the Securities Act. IBL also understands that the
Acquired Shares are being offered and sold pursuant to an exemption from
registration contained in the Securities Act based in part upon IBL's
representations contained in the Agreement.

     2.25  Title to Acquired Assets. IBL has good title to, or a valid leasehold
interest in, the Acquired Assets. Immediately following the Closing, PRTI will
have good, valid and indefeasible title to, or a valid leasehold interest in,
the Acquired Assets, free and clear of the IBL Liens.

                                  ARTICLE III
                    REPRESENTATIONS AND WARRANTIES OF PRTI

     Subject in every respect to exceptions which may hereafter be disclosed on
the PRTI Schedules, PRTI represents and warrants to IBL that the statements
contained in this Article III are correct and complete as of the date of this
Agreement and will be correct and complete as of the Closing Date (as though
made then and as though the Closing Date were substituted for the date of this
Agreement throughout this Article III), except as set forth in the disclosure
Schedules described herein.

     3.1  Organization of PRTI.  PRTI is a corporation duly organized, validly
  existing, and in good standing under the laws of Nevada.

                                       8
<PAGE>

     3.2  Authorization of Transaction. PRTI has the power and authority to
execute and deliver this Agreement and, upon satisfaction of all relevant
conditions in Article IV will have power and authority to execute and deliver
the Transaction Documents. The issuance, sale and delivery of the Acquired
Shares in accordance with the terms of this Agreement have been duly authorized
by all requisite corporate action of PRTI. When issued, sold and delivered in
accordance with this Agreement, the Acquired Shares issued hereunder will be
validly issued and outstanding, fully paid for, and nonassessable, and will not
be subject to preemptive or any other similar rights held by the shareholders of
PRTI or others; provided, however, that the Acquired Shares may be subject to
restrictions on transfer under applicable state and/or federal securities laws.

     3.3  Validity. This Agreement constitutes the legal, valid and binding
obligation of PRTI, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, moratorium or other similar laws relating to
creditor's rights and general principles of equity and no representation is made
regarding the effect of laws relating to competition or antitrust.

     3.4  Noncontravention. Neither the execution and the delivery of the
Transaction Documents nor the consummation of the transactions contemplated
thereby (including the assignments referred to in Article I above), will (i)
violate any constitution, statute, regulation, rule, injunction, judgment,
order, decree, ruling, charge, or other restriction of any government,
governmental agency, or court to which PRTI is subject, (ii) violate any
provision of the articles of incorporation or bylaws of PRTI or (iii) conflict
with, result in a breach of, constitute a default under, result in the
acceleration of, create in any party the right to accelerate, terminate, modify,
or cancel, or require any notice under any agreement, contract, lease, license,
instrument, or other arrangement to which PRTI is a party or by which it is
bound or to which any of its assets is subject (or result in the imposition of
any security interest upon any of its assets), except where the violation,
conflict, breach, default, acceleration, termination, modification,
cancellation, failure to give notice, or security interest has been waived in
writing or otherwise would not, individually or in the aggregate, (x) adversely
affect the legality, validity or enforceability of any of the Transaction
Documents or the transactions contemplated thereby, (y) have or result in a
material adverse effect on the Acquired Assets or (z) adversely impair PRTI's
ability to perform fully on a timely basis its obligations under any Transaction
Document (any of (x), (y) or (z) a Material Adverse Effect). Assuming
satisfaction of all relevant conditions in Article IV, PRTI does not need to
give any notice to, make any filing with, or obtain any authorization, consent,
or approval of any government or governmental agency in order for the Parties to
consummate the transactions contemplated by this Agreement (including the
assignments referred to in Article II above), except where the failure to give
notice, to file, or to obtain any authorization, consent, or approval would not
have a Material Adverse Effect.

     3.5  Brokers' Fees. Except for the fee to be paid to ITG, no broker,
investment banker, finder, financial advisor or other Person is entitled to any
broker's, finder's, financial advisor's or other similar fee or commission in
connection with the transactions contemplated by this Agreement based on
arrangements made by or on behalf of PRTI.

                                       9
<PAGE>

     3.6  Anti-Takeover Statute. PRTI's Board of Directors has taken all
necessary action so that no Nevada "control share acquisition" or other similar
anti-takeover statute (including, but not limited to, Sections 78.378 - 78.3793
and Sections 78.411 - 78.444 inclusive of the Nevada Revised Statutes) or
regulation or applicable provision in PRTI's Articles of Incorporation or Bylaws
prohibits the transactions contemplated by this Agreement. To the Knowledge of
PRTI, no other state takeover statute or regulation is applicable to the
transactions contemplated by this Agreement.

     3.7  Material Liabilities; Material Adverse Events.

          (a)  PRTI does not have any material liability (whether known or
               unknown, asserted or unasserted, absolute or contingent, accrued
               or unaccrued, liquidated or unliquidated, and/or due or to become
               due, including any liability for taxes), except for (i)
               liabilities set forth on the face of the financial statements
               contained in PRTI's Quarterly Report on Form 10-QSB for the
               quarter ended July 31, 2000 and (ii) liabilities which have
               arisen after July 31, 2000 in the Ordinary Course of Business.

          (b)  Since September 30, 2000, there has not been any material adverse
               change in the financial condition of PRTI taken as a whole.
               Without limiting the generality of the foregoing, since that date
               PRTI has not engaged in any practice, taken any action, or
               entered into any transaction outside the Ordinary Course of
               Business.

     3.8  Legal Compliance. PRTI has complied with all applicable laws
(including rules, regulations, codes, plans, injunctions, judgments, orders,
decrees, rulings, and charges thereunder) of federal, state, local, and foreign
governments (and all agencies thereof), except where the failure to comply,
individually or in the aggregate would not have a Material Adverse Effect.

     3.9  Disclaimer of other Representations and Warranties. PRTI acknowledges
and agrees that, except as expressly set forth in Article II, above, (a) IBL has
made and makes no representation or warranty, express or implied, at law or in
equity, in respect of any of its assets (including, without limitation, the
Acquired Assets), liabilities or operations, including, without limitation, with
respect to merchantability or fitness for any particular purpose, and any such
other representations or warranties are hereby expressly disclaimed, and (b)
PRTI is purchasing the Acquired Assets on an "as-is, where-is" basis. Without
limiting the generality of the foregoing, PRTI further acknowledges and agrees
that IBL has made and makes no representation or warranty regarding any assets
other than the Acquired Assets, and none shall be implied or inferred at law or
in equity.

                                       10
<PAGE>

     3.10 Consent of Third Party Creditors. PRTI recognizes and agrees that (a)
pursuant to Sections 1.2(b), above, and 4.1(l), below, the receipt of certain
waivers and consents from existing creditors of IBL, which creditors hold
security interests in the Acquired Assets, is a condition precedent to the
consummation of this Agreement.

                                  ARTICLE IV
                         CONDITIONS TO THE OBLIGATIONS
                                OF THE PARTIES

     4.1  Conditions to the Obligations of IBL. The obligation of IBL to
purchase and pay for the Acquired Shares and sell and transfer the Acquired
Assets and assign the Assumed Liabilities on the Closing Date is, at its option,
subject to the satisfaction or waiver by IBL, on or before the Closing Date, of
the following conditions:

          (a)  Representations and Warranties of PRTI to be True and Correct.
               The representations and warranties contained in Article III shall
               be true, complete and correct on and as of the Closing Date with
               the same effect as though such representations and warranties had
               been made on and as of such date, and the President and Treasurer
               of PRTI shall have certified to IBL in writing to such effect.

          (b)  Performance. PRTI shall have performed and complied with all
               agreements contained herein required to be performed or complied
               with by it prior to or at the Closing Date, and the President and
               Treasurer of PRTI shall have certified to IBL in writing to such
               effect and to the further effect that all of the conditions set
               forth in this Section 4.1 have been satisfied.

          (c)  Due Diligence. IBL shall have completed its due diligence
               investigation of PRTI and shall be satisfied in its sole
               discretion in all respects with the findings thereof.

          (d)  Proceedings to be Satisfactory. All corporate and other
               proceedings to be taken by PRTI in connection with the
               transactions contemplated hereby and all documents incident
               thereto shall be reasonably satisfactory in form and substance to
               IBL and its counsel, and IBL and its counsel shall have received
               all such counterpart originals or certified or other copies of
               such documents as they reasonably may request.

          (e)  Purchase by IBL. Subject to the conveyance of the Acquired Assets
               to PRTI for the Acquired Shares on the Closing Date, PRTI shall
               have

                                       11
<PAGE>

               delivered a stock certificate or certificates representing the
               Acquired Shares.

          (f)  Supporting Documents. IBL and its counsel shall have received
               copies of the following documents:

               (i)    a certificate of the Secretary of State of Nevada dated as
                      of a recent date as to the due incorporation and good
                      standing of PRTI.

               (ii)   a certificate of the Secretary or an Assistant Secretary
                      of PRTI dated the Closing Date and certifying: (A) that
                      attached thereto is a true and complete copy of the Bylaws
                      of PRTI as in effect on the date of such certification;
                      (B) that attached thereto is a true and complete copy of
                      all resolutions adopted by the Board of Directors or the
                      shareholders of PRTI authorizing the execution, delivery
                      and performance of this Agreement, the issuance, sale and
                      delivery of the Acquired Shares and that all such
                      resolutions are in full force and effect and are all the
                      resolutions adopted in connection with the transactions
                      contemplated by this Agreement; (C) that PRTI's Articles
                      of Incorporation have not been amended since the date of
                      the last amendment referred to in the certificate
                      delivered pursuant to clause (i)(A) above; and (D) to the
                      incumbency and specimen signature of each officer of PRTI
                      executing this Agreement, and any of the stock
                      certificates representing the Acquired Shares and any
                      certificate or instrument furnished pursuant hereto and a
                      certification by another officer of PRTI as to the
                      incumbency and signature of the officer signing the
                      certificate referred to in this clause (ii); and

               (iii)  such additional supporting documents and other information
                      with respect to the operations and affairs of PRTI as IBL
                      or its counsel reasonably may request.

          (g)  Preemptive Rights; Termination of Shareholder Agreements. All
               shareholders of PRTI having any preemptive, first refusal or
               other rights with respect to the issuance of the Acquired Shares
               shall have irrevocably waived the same in writing. All
               shareholder agreements, voting agreements, registration rights
               agreements and similar agreements relating to the capital stock
               of PRTI shall have been terminated by all parties to such
               agreements.

                                       12
<PAGE>

          (h)  Other Waivers and Consents. PRTI shall have obtained all other
               necessary waivers or consents to the execution of this Agreement
               and the related agreements.

          (i)  Stockholder and Board of Director Approvals. If required by
               applicable law or the Organizational Documents of either IBL or
               PRTI, this Agreement shall have been approved and adopted by the
               requisite vote of the shareholders and Board of Directors of PRTI
               and/or IBL and the issuance of the Acquired Shares pursuant to
               this Agreement shall have been approved by the requisite vote of
               the shareholders and Board of Directors of PRTI.

          (j)  License Agreement. PRTI has executed and delivered a license
               agreement granting a license to IBL to use certain licenses and
               patents that are a part of the Acquired Assets (the "License
               Agreement") in form and substance to the mutual satisfaction of
               PRTI and IBL.

          (k)  Registration Rights Agreement. PRTI has executed and delivered a
               Registration Rights Agreement to IBL regarding the Acquired
               Shares in form and substance to the mutual satisfaction of PRTI
               and IBL.

          (l)  Creditor Consents. IBL shall have received, on or before the
               Closing Date all necessary consents from those creditors which
               have perfected security interests in any of the Acquired Assets.
               Such consents shall be in form and substance to the mutual
               satisfaction of PRTI and IBL.

     4.2  Conditions to the Obligations of PRTI. The obligation of PRTI to issue
the Acquired Shares and, purchase the Acquired Assets, and assume the Assumed
Liabilities on the Closing Date is, at its option, subject to the satisfaction
or waiver by PRTI, on or before the Closing Date, of the following conditions:

          (a)  Representations and Warranties of IBL to be True and Correct. The
               representations and warranties of IBL contained in Article II
               shall be true, complete and correct on and as of the Closing Date
               with the same effect as though such representations and
               warranties had been made on and as of such date, and the
               President and Treasurer of IBL shall have certified to PRTI in
               writing to such effect.

          (b)  Performance. IBL shall have performed and complied with all
               agreements contained herein required to be performed or complied
               with by it prior to or at the Closing Date, and the President and
               Treasurer of IBL shall have certified to PRTI in writing to such
               effect and to the further

                                       13
<PAGE>

               effect that all of the conditions set forth in this Section 4.2
               have been satisfied.

          (c)  Due Diligence. PRTI shall have completed its due diligence
               investigation of IBL and shall be satisfied in its sole
               discretion in all respects with the findings thereof.

          (d)  Proceedings to be Satisfactory. All corporate and other
               proceedings to be taken by IBL in connection with the
               transactions contemplated hereby and all documents incident
               thereto shall be reasonably satisfactory in form and substance to
               PRTI, and PRTI and its counsel shall have received all such
               counterpart originals or certified or other copies of such
               documents as they reasonably may request.

          (e)  Conveyance of the Acquired Assets. IBL shall have conveyed the
               Acquired Assets to PRTI on the Closing Date.

          (f)  Stockholder Approvals. If required by applicable law, or the
               Organizational Documents of either IBL or PRTI, this Agreement
               shall have been approved and adopted by the requisite vote of the
               shareholders and Board of Directors of PRTI and/or IBL and the
               issuance of the Acquired Shares pursuant to this Agreement shall
               have been approved by the requisite vote of the shareholders and
               Board of Directors of PRTI.

          (g)  No Adverse Action. There shall not be any injunction, judgment,
               order, decree, ruling, or charge in effect preventing
               consummation of any of the transactions contemplated by this
               Agreement.

          (h)  Certificate of IBL. IBL shall have delivered to PRTI a
               certificate to the effect that each of the conditions specified
               above in Sections 4.2(a) through (h) is satisfied in all
               respects.

          (i)  Final Inspection of Acquired Assets. PRTI or its representatives
               shall have been afforded an opportunity, within forty-eight (48)
               hours prior to Closing, to conduct an on-site inspection of the
               Acquired Assets and based on such inspection or otherwise shall
               have reasonably determined that the Acquired Assets shall be
               acceptable to PRTI.

          (j)  Employment Agreements. PRTI shall have received executed
               employment agreements of key employees of IBL, specifically, Pam
               Dixon, Dave Kettmann and Patricia Johnson, to ensure the complete
               transfer of knowledge and technology to PRTI regarding the
               purchase of the Acquired Assets.

                                       14
<PAGE>

          (k)  Registration Rights Agreement. IBL and PRTI shall have entered
               into a mutually satisfactory Registration Rights Agreement with
               respect to the Acquired Shares.

          (l)  Creditor Consents. IBL shall have received, on or before the
               Closing Date, all necessary consents from those creditors which
               have perfected security interests in any of the Acquired Assets.
               Such consents shall be in form and substance to the mutual
               satisfaction of PRTI and IBL.

                                   ARTICLE V
                               COVENANTS OF PRTI

     PRTI covenants and agrees that, unless IBL otherwise agrees in writing,
from the date of this Agreement until the Closing:

     5.1  Corporate Existence. PRTI shall maintain its corporate existence and
all of its rights and licenses necessary to maintain its business in full force
and effect.

     5.2  Compliance with Laws. PRTI shall comply with all applicable Laws,
noncompliance with which could Materially Adversely Affect it's business or
condition, financial or otherwise.

     5.3  Appropriate Action; Consents; Filings. PRTI shall use its best efforts
to (i) take, or cause to be taken, all appropriate action, and do, or cause to
be done, all things necessary, proper or advisable under applicable Law to
consummate and make effective the transactions contemplated by this Agreement;
(ii) obtain all consents, licenses, permits, waivers, approvals, authorizations
or orders required under applicable Law (including, without limitation, all
foreign and domestic (federal, state and local) governmental and regulatory
rulings and approvals of parties to Contracts) in connection with the
authorization, execution and delivery of this Agreement and the consummation by
PRTI of the transactions contemplated hereby; and (iii) make all necessary
filings, and thereafter make any other required submissions, with respect to
this Agreement required under (A) the Securities Act and the Exchange Act and
the rules and regulations promulgated thereunder, and any other applicable
federal or state securities laws; and (B) any other applicable Law.

     5.4  Indemnification.

     (a)  In addition to all rights and remedies available to IBL at law or in
          equity, PRTI shall indemnify, defend and hold harmless IBL and any
          parent, subsidiary, associate, affiliate, partner, shareholder,
          director, officer, employee or agent (all of the foregoing are
          collectively referred to as the "Indemnified Parties") of IBL from and
                                           -------------------
          against and pay on behalf of or reimburse such party as and when

                                       15
<PAGE>

          incurred all losses, including, without limitation, Liabilities,
          demands, claims, actions or causes of action, costs, damages,
          judgments, debts, settlements, assessments, deficiencies, taxes,
          penalties, fines or expenses, whether or not arising out of any claims
          by or on behalf of any third party, including interest, penalties,
          reasonable attorneys' fees and expenses and all reasonable amounts
          paid in investigation, defense or settlement of any of the foregoing
          (collectively, "Losses") which any such party may suffer, sustain or
                          ------
          become subject to, as a result of, in connection with, or relating to
          or by virtue of:

               (i)    any material misrepresentations or material breach of
                      warranty on the part of PRTI under Article III;

               (ii)   any material misrepresentation in or material omission
                      from any of the representations or warranties contained in
                      this Agreement or in any Schedule delivered to IBL by or
                      on behalf of PRTI in connection herewith;

               (iii)  any material nonfulfillment or breach of any covenant or
                      agreement on the part of PRTI under this Agreement; or

               (iv)   any action, demand, proceeding, investigation or claim by
                      any third party, including, without limitation, Government
                      Entities against or affecting any PRTI Affiliated Company
                      or any of their affiliates which, if successful, would
                      give rise to or evidence the existence of or relate to a
                      material breach of (A) any of the material representations
                      or warranties at the time made or (B) the covenants of
                      PRTI.

     (b)  All indemnification rights hereunder shall survive the execution and
          delivery of this Agreement and the consummation of the transactions
          contemplated hereunder for a period of two (2) years, regardless of
          any investigation, inquiry or examination made for or on behalf of, or
          any Knowledge of, IBL and/or any of the other Indemnified Parties or
          the acceptance by IBL of any certificate or opinion.

     (c)  If for any reason the indemnity provided for in this Section 5.4 is
          unavailable to any Indemnified Party or is insufficient to hold each
          such Indemnified Party harmless from all such Losses arising with
          respect to the transactions contemplated hereunder, then PRTI and the
          Indemnified Party shall each contribute to the amount paid or payable
          by such Loss in such proportion as is appropriate to reflect not only
          the relative benefits received by PRTI on the one hand, and such
          Indemnified Party on the other, but also the relative fault of PRTI on
          the one hand, and the Indemnified Party on the other, as well as any
          relevant

                                       16
<PAGE>

          equitable considerations. In addition, PRTI agrees to reimburse any
          Indemnified Party upon demand for all reasonable expenses, including
          legal counsel fees, incurred by such Indemnified Party or any such
          other person in connection with investigating, preparing or defending
          any such action or claim. The indemnity, contribution and expense
          reimbursement obligations that PRTI has under this Section 5.4 shall
          be in addition to any liability that PRTI may otherwise have. PRTI
          further agrees that the indemnification and reimbursement commitments
          set forth in this Agreement shall apply whether or not the Indemnified
          Party is a formal party to any such lawsuits, claims or other
          proceedings.

     (d)  Any indemnification of either IBL or any other Indemnified Party by
          PRTI pursuant to this Section 5.4 shall be effected by wire transfer
          of immediately available funds from PRTI to an account designated by
          IBL or such other Indemnified Party within 15 days after the
          determination thereof.

     5.5  Confidentiality. PRTI shall, and shall cause each other PRTI
Affiliated Company to, maintain in confidence, and cause their respective
directors, officers, employees, agents and advisors to maintain in confidence,
any written, oral or other information obtained in confidence from IBL in
connection with this Agreement or the contemplated transactions. If this
Agreement is terminated, PRTI shall return or destroy as much of such written
information as IBL may reasonably request.

                                  ARTICLE VI
                               COVENANTS OF IBL

          IBL covenants and agrees that, unless PRTI otherwise agrees in
writing, from the date of this Agreement until the Closing:

     6.1  Operation of Business. From and after the date of this Agreement and
until the Closing Date, IBL will conduct its business in a reasonable and
prudent manner as far as is practicable in accordance with past practices, and
will use its best efforts to preserve its existing business and relationships
with its employees, customers, and others, to preserve and protect the Acquired
Assets, and to conduct its business in compliance with all applicable laws and
regulations. During that period, IBL will not make any material divestitures of
assets (other than inventory sold in the normal and Ordinary Course of Business
as presently conducted), and will not encumber any of the Acquired Assets, or
any other assets, rights, or interests which are subject to this Agreement. IBL
will not otherwise engage in any practice, take any action, or enter into any
transaction outside the Ordinary Course of Business. From and after the date of
this Agreement and until the Closing, IBL shall refrain from any action or
inaction with third parties that may jeopardize clean and clear title to the
Acquired Assets.

     6.2  Full Access. IBL will permit representatives of PRTI to have full
access at all reasonable times, and in a manner so as not to interfere with the
normal business operations of

                                       17
<PAGE>

IBL, to all premises, properties, personnel, books, records (including tax
records), contracts, and documents of or pertaining to IBL.

     6.3  Exclusivity. IBL will not solicit, initiate, or encourage the
submission of any proposal or offer from any Person relating to the acquisition
of all or substantially all of the capital stock or assets of IBL (including any
acquisition structured as a merger, consolidation, or share exchange).

     6.4  Appropriate Action; Consents; Filings. IBL shall use its best efforts
to (i) take, or cause to be taken, all appropriate action, and do, or cause to
be done, all things necessary, proper or advisable under applicable Law to
consummate and make effective the transactions contemplated by this Agreement;
(ii) obtain all consents, licenses, permits, waivers, approvals, authorizations
or orders required under applicable Law (including, without limitation, all
foreign and domestic (federal, state and local) governmental and regulatory
rulings and approvals of parties to Contracts) necessary to be obtained by IBL
in connection with the authorization, execution and delivery of this Agreement
and the consummation by IBL of the transactions contemplated hereby; and (iii)
make all necessary filings, and thereafter make any other required submissions,
with respect to this Agreement required under (A) the Securities Act and the
Exchange Act and the rules and regulations promulgated thereunder, and any other
applicable federal or state securities laws; and (B) any other applicable Law.

     6.5  Indemnification.

          (a)  In addition to all rights and remedies available to PRTI at law
               or in equity, IBL shall indemnify, defend and hold harmless PRTI
               and any Indemnified Party of PRTI from and against and pay on
               behalf of or reimburse such party as and when incurred all
               losses, including, without limitation, Liabilities, demands,
               claims, actions or causes of action, costs, damages, judgments,
               debts, settlements, assessments, deficiencies, taxes, penalties,
               fines or expenses, whether or not arising out of any claims by or
               on behalf of any third party, including interest, penalties,
               reasonable attorneys' fees and expenses and all reasonable
               amounts paid in investigation, defense or settlement of any of
               the foregoing (collectively, "PRTI Losses") which any such party
                                                  ------
               may suffer, sustain or become subject to, as a result of, in
               connection with, or relating to or by virtue of:

               (v)  any material misrepresentations or material breach of
                    warranty on the part of IBL under Article II;

               (vi) any material misrepresentation in or material omission from
                    any of the representations or warranties contained in this
                    Agreement or

                                       18
<PAGE>

                      the Schedules delivered to PRTI by or on behalf of IBL in
                      connection herewith;

               (vii)  any material nonfulfillment or breach of any covenant or
                      agreement on the part of IBL under this Agreement;

               (viii) any action, demand, proceeding, investigation or claim by
                      any third party, including, without limitation, Government
                      Entities against or affecting any IBL Affiliated Company
                      or any of their affiliates which, if successful, would
                      give rise to or evidence the existence of or relate to a
                      material breach of (A) any of the material representations
                      or warranties at the time made or (B) the covenants of
                      IBL;

               (ix)   any action, demand, proceeding, investigation or claim by
                      any third party regarding the Acquired Assets whereby such
                      action, demand, proceeding, investigation or claim is
                      based upon certain agreements, actions or breaches by IBL
                      regarding the use or ownership of the Acquired Assets
                      prior to the date hereof; or

               (x)    any claims for damages, losses, diminution in value of any
                      asset which remains on the premises of 215 Castro Street,
                      Mountain View, California 94041, following the date
                      hereof.

          (b)  All indemnification rights hereunder shall survive the execution
               and delivery of this Agreement and the consummation of the
               transactions contemplated hereunder for a period of two (2) years
               regardless of any investigation, inquiry or examination made for
               or on behalf of, or any Knowledge of, PRTI and/or any of the
               other PRTI Indemnified Parties or the acceptance by PRTI of any
               certificate or opinion.

          (c)  If for any reason the indemnity provided for in this Section 6.5
               is unavailable to any PRTI Indemnified Party or is insufficient
               to hold each such PRTI Indemnified Party harmless from all such
               PRTI Losses arising with respect to the transactions contemplated
               hereunder, then IBL and the PRTI Indemnified Party shall each
               contribute to the amount paid or payable by such PRTI Loss in
               such proportion as is appropriate to reflect not only the
               relative benefits received by IBL on the one hand, and such PRTI
               Indemnified Party on the other, but also the relative fault of
               IBL on the one hand, and the PRTI Party on the other, as well as
               any relevant equitable considerations. In addition, IBL agrees to
               reimburse any PRTI Party upon demand for all reasonable expenses,
               including legal counsel

                                       19
<PAGE>

               fees, incurred by such PRTI Indemnified Party or any such other
               person in connection with investigating, preparing or defending
               any such action or claim. The indemnity, contribution and expense
               reimbursement obligations that IBL has under this Section 6.5
               shall be in addition to any liability that IBL may otherwise
               have. IBL further agrees that the indemnification and
               reimbursement commitments set forth in this Agreement shall apply
               whether or not the PRTI Indemnified Party is a formal party to
               any such lawsuits, claims or other proceedings.

          (d)  Any reimbursements owed to PRTI by IBL hereunder shall be paid by
               IBL (i) first out of the Escrow Account as described in Section
               1.4 hereof (for which purpose any Acquired Shares which are
               transferred to PRTI out of the escrow created by the Escrow
               Agreement shall be valued at the average sale price of such
               shares on the senior market or quotation system on which such
               Shares are then listed or quoted over the ten (10) trading days
               immediately preceding the date on which such Shares are so
               transferred, and (ii) then, to the extent of the balance,
               effective by wire transfer of immediately available funds from
               IBL to an account designated by PRTI or such other PRTI
               Indemnified Party within 15 days after the determination thereof.

     6.6  Confidentiality. IBL shall, and shall cause each other IBL Affiliated
Company to, maintain in confidence, and cause their respective directors,
officers, employees, agents and advisors to maintain in confidence, any written,
oral or other information obtained in confidence from PRTI in connection with
this Agreement or the contemplated transactions. If this Agreement is
terminated, IBL shall return or destroy as much of such written information as
PRTI may reasonably request.

     6.7  IBL Schedules. Within ten (10) business days of the date of this
Agreement, IBL will deliver to PRTI a set of schedules (the "IBL Schedules")
                                                             -------------
identifying (a) the Acquired Assets described in Section 1.2(d), and (b) any
exceptions to the representations and warranties of IBL set forth in Article II.

                                  ARTICLE VII
                                  TERMINATION

     7.1  Termination. This Agreement may be terminated at any time prior to the
Closing Date:

          (a)  by the written agreement of IBL and PRTI;

                                       20
<PAGE>

          (b)  by either IBL or PRTI by written notice to the other party if the
               transactions contemplated hereby shall not have been consummated
               pursuant hereto by 5:00 p.m. Chicago time on December 31, 2000,
               or such later date as may be selected by the mutual written
               consent of IBL and PRTI, provided that no party may give such
               notice if its breach of this Agreement has precluded the
               consummation of this Agreement;

          (c)  by PRTI by written notice to IBL if (i) the representations and
               warranties of IBL shall not have been true and correct in all
               respects (in the case of a representation or warranty containing
               a materiality qualification) or in all material respects (in the
               case of a representation or warranty without a materiality
               qualification) as of the date when made, or (ii) if any of the
               conditions set forth in Section 4.2 shall not have been, or if it
               becomes apparent that any of such conditions will not be,
               fulfilled by 5:00 p.m. Chicago time, on December 31, 2000, or
               such later date as may be selected by the mutual written consent
               of IBL and PRTI, unless such failure shall be due to the failure
               of PRTI to perform or comply with any of the covenants,
               agreements, or conditions hereof to be performed or complied with
               by it prior to the Closing; or

          (d)  by IBL by written notice to PRTI if (i) the representations and
               warranties of PRTI shall not have been true and correct in all
               respects (in the case of a representation or warranty containing
               a materiality qualification) or in all material respects (in the
               case of a representation or warranty without a materiality
               qualification) as of the date when made, (ii) if any of the
               conditions set forth in Section 4.1 shall not have been, or if it
               becomes apparent that any of such conditions will not be,
               fulfilled by 5:00 p.m. Chicago time, on December 31, 2000, or
               such later date may be selected by the mutual written consent of
               IBL and PRTI, unless such failure shall be due to the failure of
               IBL to perform or comply with any of the covenants, agreements,
               or conditions hereof to be performed or complied with by it prior
               to the Closing, or (iii) in the event IBL elects to terminate by
               reason of the option provided in Section 4.2(f).

     7.2  Effect of Termination. In the event of the termination of this
Agreement pursuant to Section 7.1, this Agreement shall become void, without any
liability to any party in respect hereof or the transactions contemplated hereby
on the part of any party hereto or any of their respective directors, officers,
employees, agents, consultants, representatives, advisers or shareholders,
provided, however, that: (a) nothing shall release a breaching party from
liability for damages resulting from its breach of this Agreement, and (b)
Sections 5.5, 6.6, 7.2, and Articles VIII and IX shall survive indefinitely
subject to applicable statutes of limitations.

                                       21
<PAGE>

                                 ARTICLE VIII
                                 MISCELLANEOUS

     8.1  Expenses. Each party hereto will pay its own expenses in connection
with the transactions contemplated hereby, whether or not such transactions
shall be consummated.

     8.2  Survival of Agreements. All covenants, agreements, representations and
warranties made herein or in any other agreement, or any certificate or
instrument delivered to IBL pursuant to or in connection with this Agreement,
shall survive the Closing for a period of two (2) years.

     8.3  Remedies. In case any one or more of the representations, warranties,
covenants or agreements set forth in this Agreement shall have been breached by
any party hereto, the party or parties entitled to the benefit of such
representations, warranties, covenants or agreements may proceed to protect and
enforce their rights either under the indemnification provisions of this
Agreement or by suit in equity and/or action at law, including, but not limited
to, an action for damages as a result of any such breach and/or an action for
specific performance of any such covenant or agreement contained in this
Agreement. The rights, powers and remedies of the parties under this Agreement
are cumulative and not exclusive of any other right, power or remedy which such
parties may have under any other agreement or law. No single or partial
assertion or exercise of any right, power or remedy of a party hereunder shall
preclude any other or further assertion or exercise thereof.

     8.4  Brokerage. Each party will indemnify and hold harmless the other
against and in respect of any claim for brokerage or other commissions relative
to this Agreement or to the transactions contemplated hereby, based in any way
on agreements, arrangements or understandings made or claimed to have been made
with any third party.

     8.5  Parties in Interest. All representations, covenants and agreements
contained in this Agreement by or on behalf of any of the parties hereto shall
bind and inure to the benefit of the respective successors and assigns of the
parties hereto whether so expressed or not. Without limiting the generality of
the foregoing, all representations, covenants and agreements benefiting IBL
shall inure to the benefit of any and all subsequent holders from time to time
of the Acquired Shares.

     8.6  Notices. All notices, requests, consents and other communications
hereunder shall be in writing and shall be delivered in person or sent by
overnight delivery or by certified or registered mail, return receipt requested,
addressed as follows:

          (a)  if to PRTI, at Phoenix Resources Technologies, Inc., 10153
               Parkwood Drive, Suite 6, Cupertino, California 95014, telecopier:
               (775) 628-6017, Attention: Michael Lamb, with a copy to Eric M.
               Fogel, Esquire, Duane,

                                       22
<PAGE>

               Morris & Heckscher LLP, 227 West Monroe Street, Suite 3400,
               Chicago, Illinois 60606, telecopier: (312) 499-6701;

          (b)  if to IBL, at iBuyLine, Inc., 215 Castro Street, Mountain View,
               California 94041, telecopier: (___) ___-____, Attention: Edward
               V. Lauing, President, with a copy to Philip S. Boone, Jr., Esq.,
               Coblentz, Patch, Duffy & Bass, LLP, 222 Kearny Street, 7th Floor,
               San Francisco, CA 94108, telecopier: (415) 989-1663;

or, in any such case, at such other address or addresses as shall have been
furnished in writing by such party to the others as provided herein.

     All notices, consents or other communications required or permitted to be
given under this Agreement shall be deemed to have been duly given and received
(i) when delivered personally, (ii) three (3) business days after being mailed
by first class mail, postage prepaid, or (iii) one (1) business day after being
sent by a reputable overnight delivery service, postage or delivery charges
prepaid, to the parties at their respective addresses stated on the signature
page of this Agreement. Notices may also be given by telecopier and shall be
effective on the date transmitted if confirmed within 24 hours thereafter by a
signed original sent in the manner provided in the preceding sentence.

     8.7  Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of California notwithstanding any
conflicts-of-law doctrines of such state or any other jurisdiction to the
contrary. EACH OF THE PARTIES HEREBY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY
JURY IN ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF THIS AGREEMENT. E

     8.8  Entire Agreement. This Agreement, including the Schedules hereto,
together with the other writings referred to herein or delivered pursuant hereto
which form a part hereof, constitutes the sole and entire agreement of the
parties with respect to the subject matter hereof. All Schedules hereto are
hereby incorporated herein by reference.

     8.9  Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

     8.10 Amendments. This Agreement may not be amended or modified, and no
provisions hereof may be waived, without the written consent of PRTI and IBL.

     8.11 Severability. The invalidity or unenforceability of any term, phrase,
clause, paragraph, restriction, covenant, agreement or other provision hereof
shall in no way affect the validity or enforceability of any other provision, or
any part thereof, but this Agreement shall be construed as if such invalid or
unenforceable term, phrase, clause, paragraph, restriction,

                                       23
<PAGE>

covenant, agreement or other provision had never been contained herein unless
the deletion of such term, phrase, clause, paragraph, restriction, covenant,
agreement or other provision would result in such a material change as to cause
the covenants and agreements contained herein to be unreasonable or would
materially and adversely frustrate the objectives of the parties as expressed in
this Agreement.

     8.12 Titles and Subtitles. The titles and subtitles used in this Agreement
are for convenience only and are not to be considered in construing or
interpreting any term or provision of this Agreement.

     8.13 Public Announcements. PRTI and IBL shall consult with each other
before issuing any press release or otherwise making any public statement
relating to the subject matter of this Agreement and shall not issue any such
press release or make any such public statement prior to such consultation and
without the consent of the other party which shall not be unreasonably withheld,
except as may be required by federal securities laws.

     8.14 Bulk Transfer Laws. PRTI acknowledges that IBL will not comply with
the provisions of any bulk transfer laws of any jurisdiction in connection with
the transactions contemplated by this Agreement.

                                  ARTICLE IX
                                  DEFINITIONS

     9.1  "Affiliated Companies" means a Party and its Subsidiaries,
collectively.

     9.2  "Common Stock" means PRTI's Common Stock, $.0001 par value.

     9.3  "Contract" means any agreement, contract, obligation, promise, or
undertaking (whether written or oral and whether express or implied) that is
legally binding.

     9.4  "Environmental Laws" means any and all Laws, permits, concessions,
grants, franchises, licenses, agreements or governmental restrictions relating
to pollution and the protection of the environment or the release of any
materials into the environment, including but not limited to those relating to
hazardous substances or wastes, air emissions and discharges to waste or public
systems.

     9.5  "Exchange Act" means the Securities Exchange Act of 1934, as amended,
or any successor federal statute, and the rules and regulations of the SEC
thereunder, all as the same shall be in effect at the time. Reference to a
particular section of the Exchange Act shall include reference to the comparable
section, if any, of any successor federal statute.

     9.6  "Government Entity" means any supranational, national, foreign,
federal, state or local judicial, legislative, executive, administrative or
regulatory body or authority.

                                       24
<PAGE>

     9.7  "Hazardous Material" means any and all pollutants, toxic or hazardous
wastes or any other substances, including but not limited to biomedical waste,
that might pose a hazard to health or safety, the removal of which may be
required or the generation, manufacture, refining, production, processing,
treatment, storage, handling, transportation, transfer, use, disposal, release,
discharge, spillage, seepage, or filtration of which is or shall be restricted,
prohibited or penalized by any applicable Law (including, without limitation,
asbestos, urea formaldehyde foam insulation and polychlorinated biphenyls).

     9.8  "Knowledge" or "to Know" means actual knowledge after reasonable
review of internal corporate documents and files.

     9.9  "Laws" includes any applicable foreign, federal, state, or local law,
statute, rule, regulation, Order or other restriction of any court or other
Government Entity.

     9.10 "Liability" means any debt, liability or obligation, whether known or
unknown, asserted or unasserted, accrued, absolute, contingent or otherwise,
whether due or to become due.

     9.11 "Material Adverse Effect" or "Materially Adversely Affect" means any
event or change which has a material adverse effect on (a) the properties,
business, prospects, operations, earnings, assets, liabilities or the condition
(financial or otherwise) of a party taken as a whole, whether or not in the
ordinary course of business, (b) the ability of a party to perform its
obligations under this Agreement or (c) the validity or enforceability of this
Agreement.

     9.12 "Ordinary Course of Business" -- an action taken by a Person will be
deemed to have been taken in the "Ordinary Course of Business" only if: (a) such
action is consistent with the past practice of such Person (including with
respect to quality and frequency) and is taken in the ordinary course of the
normal day-to-day operations of such Person; and (b) such action is not required
to be authorized by the board of directors of such Person (or by any Person or
group of Persons exercising similar authority).

     9.13 "Organizational Documents" means the articles or certificate of
incorporation and the bylaws of a corporation; the partnership agreement and any
statement of partnership of a general partnership; the limited partnership
agreement and the certificate of the limited partnership of a limited
partnership; any charter or similar document adopted or filed in connection with
the creation, formation, or organization of a Person; and any amendment to any
of the foregoing.

     9.14 "Person" means any individual, corporation (including any non-profit
corporation), general or limited partnership, limited liability company, joint
venture, estate, trust, association, organization, labor union, or other entity
or Government Entity.

     9.15 "SEC" means the United States Securities and Exchange Commission.

                                       25
<PAGE>

     9.16 "Securities Act" shall mean the Securities Act of 1933, as amended, or
any successor federal statute, and the rules and regulations of the SEC
thereunder, all as the same shall be in effect at the time. Reference to a
particular section of the Securities Act shall include reference to the
comparable section, if any, of any successor federal statute.

     9.17 "Subsidiary" with respect to any Person (the "Owner") means any
corporation or other Person of which securities or other interests having the
power to elect a majority of that corporation's or other Person's board of
directors or similar governing body, or otherwise having the power to direct the
business and policies of that corporation or other Person (other than securities
or other interests having such power only upon the happening of a contingency
that has not occurred) are held by the Owner or one or more of its Subsidiaries.

                          (Signature page to follow.)

                                       26
<PAGE>

     IN WITNESS WHEREOF, PRTI and IBL have executed this Agreement on the 31/st/
of October 2000.

                              PHOENIX RESOURCES TECHNOLOGIES, INC.

                              By: /s/ Michael Lamb
                                  ----------------------------------------------
                              Title: Vice President and Chief Operations Officer
                                    --------------------------------------------

                              IBUYLINE, INC.

                              By: /s/ Edward V. Lauing
                                  ----------------------------------------------
                              Title: President and Chief Executive Officer
                                    --------------------------------------------

                                       27
<PAGE>

                                   EXHIBIT A

                                ACQUIRED ASSETS

     For purposes of the Asset Purchase Agreement, the following assets of IBL
shall be and constitute the Acquired Assets.

     Notwithstanding anything to the contrary in the Asset Purchase Agreement of
which this Exhibit is a part, the assets of IBL which are described above shall
include the intellectual property used in connection with IBL's business,
including the software and patents described in Section 6.7, goodwill associated
therewith, licenses and sublicenses granted and obtained with respect thereto,
and rights thereunder, remedies against infringements thereof, and rights to
protection of interests therein under the laws of all jurisdictions in which IBL
conducts business.

                                       28

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00018-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00018-of-00352.parquet"}]]