Document:

SECURITY
      AGREEMENT

    

    This
      SECURITY AGREEMENT ("Security
      Agreement")
      as of
      January 31, 2008 (the
      "Effective
      Date"),
      is made
      by and between
      Well Chance Investments Limited, a company incorporated in the British Virgin
      Islands (the "Company"),
      and
RMK
      Emerging Growth Opportunity Fund LP, a Delaware limited partnership (the
      "Lender").

     

    WHEREAS,
      on the Effective Date, the Company entered into a Loan Agreement with the Lender
      to evidence a bridge loan from the Lender to the Company in the aggregate amount
      of $444,733, consisting of an Initial Loan of $244,733.15, and an Additional
      Loan of $200,000 (collectively, the "RMK
      Loan");

     

    WHEREAS,
      in order to induce Lender to make the RMK Loan to the Company, the Company
      has
      agreed to grant to Lender a security interest in all of its assets to secure
      the
      amounts currently owing, and any additional amounts which may be owing, by
      the
      Company pursuant to the Loan Agreement.

     

    NOW,
      THEREFORE, for good and valuable consideration, the receipt of which is hereby
      acknowledged, the parties hereto hereby agree as follows:

     

    1.  Defined
      Terms.
      Capitalized terms used herein and not defined herein have the meanings assigned
      to them in the Loan Agreement. The following terms shall have the following
      meanings, unless the context otherwise requires:

     

    "Code"
      shall
      mean the Uniform Commercial Code as in effect in the State of California on
      the
      Initial Loan Closing Date.

    

    "Collateral"
      shall
      have the meaning given such term in Section 2. 

    

    "Event
      of Default"
      shall
      have the meaning given such term in the Note and the Loan
      Agreement.

    

    "Obligations"
      shall
      mean the unpaid RMK Loan including all remaining outstanding Loan Principal,
      Initial Loan Premium and Additional Loan Fee (if applicable) amounts owed to
      Lender (as such capitalized terms are defined in the Loan Agreement) pursuant
      to
      the Loan Agreement and Note or Notes, including costs of
      collection.

    

    2.  Grant
      of Security Interest.
      As
      collateral security for the prompt and complete payment and performance when
      due
      of all the Obligations, the Company hereby grants to the Lender a security
      interest in all of the Company's right, title and interest in, to and under
      the
      following, whether now existing or hereafter acquired (all of which being
      hereinafter collectively called the "Collateral"):

     

    (a) Accounts.
      All
      present and future accounts owned by the Company, including and together with
      any and all contract rights, accounts receivable, security deposits (where
      not
      otherwise prohibited by law or agreement), and other rights of any kind to
      receive payments for services rendered and goods supplied by the Company,
      together with agreements, customer lists, client lists, and accounts, invoices,
      agings, verification reports and other records relating in any way to such
      accounts.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b) Contracts.
      All
      contracts, contract rights, royalties, license rights, leases, instruments,
      undertakings, documents or other agreements in or under which the Company may
      now or hereafter have any right, title or interest whether now existing or
      hereinafter created and all forms of obligations owing to the Company arising
      out of the sale or lease of goods, the licensing of technology or the rendering
      of services by the Company, whether or not earned by performance, and any and
      all credit insurance, guaranties, and other security therefor, as well as all
      merchandise returned to or reclaimed by the Company.

     

    (c) Equipment,
      Furnishings and Miscellaneous Personal Property.
      All
      presently owned and hereafter acquired furniture, furnishings, equipment,
      machinery, vehicles (including motor vehicles and trailers) computer hardware
      and software, accounting or bookkeeping systems, client or customer lists and
      information, data sheets and other records of any kind, wherever located, stored
      or inventoried, which are used or which may be used in the Company’s business;

     

    (d) Fixtures.
      All
      materials used by the Company in connection with its business operations,
      including, but not limited to, supplies, trade equipment, appliances, apparatus
      and any other items, now owned or hereafter acquired by the Company, and now
      or
      hereafter attached to, or installed in (temporarily or permanently) any real
      property now or in the future owned or leased by the Company; 

     

    (e) General
      Intangibles.
      All
      general intangibles and other personal property of the Company, now owned or
      hereinafter acquired, including, without limitation, the following: (a) permits,
      authorizations and approvals presently and hereafter issued by any federal,
      state, municipal or local governmental or regulatory authority in favor of
      the
      Company; (b) all plans, specifications, renderings and other similar materials
      presently owned or hereafter acquired by the Company; (c) all presently existing
      and hereafter created contracts, leases, licenses and agreements to which the
      Company is a party; (d) all presently and hereafter existing policies and
      agreements of insurance in favor of the Company; (e) all presently and hereafter
      existing equity contribution agreements and other equity financing arrangements
      in favor of the Company; (f) all copyrights, chattel paper, electronic chattel
      paper, licenses, money, insurance proceeds, contract rights, subscription lists,
      mailing lists, licensing agreements, patents, trademarks, service marks, trade
      styles, patents, patent applications, franchise agreements, blueprints,
      drawings, purchase orders, customer lists, route lists, infringements, claims,
      computer programs, computer discs, computer tapes, literature, reports,
      catalogs, design rights, income tax refunds, payments of insurance and rights
      to
      payment of any kinds, trade names, refundable, returnable or reimbursable fees,
      deposits or other funds or evidences of credit or indebtedness deposited by
      or
      on behalf of the Company with any governmental agencies, boards, corporations,
      providers of utility services, public or private; (g) all presently existing
      and
      hereafter acquired computer programs, computer software and other electronic
      systems and materials of any kind of the Company; (h) goodwill; and (i) all
      other presently existing and hereafter acquired documents, accounts, general
      intangibles and intangible personal property of any kind.

     

    
      
        
        

      

      
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    (f) Documents.
      All
      documents, cash, deposit accounts, securities, securities entitlements,
      securities accounts, investment property, financial assets, letters of credit,
      certificates of deposit, instruments, chattel paper, and electronic chattel
      paper now owned or hereafter acquired and the Company’s books relating to the
      foregoing.

     

    (g) Copyrights.
      All
      copyright rights, copyright applications, copyright registrations and like
      protections in each work of authorship and derivative work thereof, whether
      published or unpublished, now owned or hereafter acquired; all trade secret
      rights, including all rights to unpatented inventions, know-how, operating
      manuals, license rights and agreements and confidential information, now owned
      or hereafter acquired; all mask work or similar rights available for the
      protection of semiconductor chips, now owned or hereafter acquired; all claims
      for damages by way of any past, present and future infringement of any of the
      foregoing.

     

    (h) Proceeds.
      All of
      the Company’s books and records relating to the foregoing and any and all
      present and future accounts, general intangibles, chattel paper, electronic
      chattel paper, products, accessions, replacements, betterments and substitutions
      for any of the foregoing described property, and all proceeds arising from
      or by
      virtue of, or from the sale or disposition of, or collections with respect
      to,
      or insurance proceeds payable with respect to, or claims against any other
      persons, corporations or other entities with respect to, all or any part of
      the
      foregoing described property and interests.

    

    3.  Rights
      of Lender; Limitations on Lender’s Obligations.
      It is
      expressly agreed by the Company that, anything herein to the contrary
      notwithstanding, the Company shall remain liable under each Contract and
      Document to observe and perform all the conditions and obligations to be
      observed and performed by it thereunder, all in accordance with and pursuant
      to
      the terms and provisions of each such Contract or Document. No Lender shall
      have
      any obligation or liability under any Contract or Document by reason of or
      arising out of this Security Agreement or the granting to such Lender of a
      security interest therein or the receipt by Lender of any payment relating
      to
      any Contract or Document pursuant hereto, nor shall Lender be required or
      obligated in any manner to perform or fulfill any of the obligations of the
      Company under or pursuant to any Contract or Document, or to make any payment,
      or to make any inquiry as to the nature or the sufficiency of any payment
      received by it or the sufficiency of any performance by any party under any
      Contract or Document, or to present or file any claim, or to take any action
      to
      collect or enforce any performance or the payment of any amounts which may
      have
      been assigned to it or to which it may be entitled at any time or times. In
      the
      event that any asset of the Company which, by the terms of any agreement in
      existence on the date hereof, does not permit the granting of a security
      interest, the Company hereby grants to each Lender a security interest in all
      proceeds received by the Company generated by such assets. The Uniform
      Commercial Code financing statement to be filed by each Lender in connection
      with this Security Agreement shall contain a provision to the effect of the
      immediately foregoing sentence.

     

    4.  Representations
      and Warranties.
      The
      Company hereby represents and warrants that the chief executive office and
      chief
      place of business of the Company is 2nd
      Floor,
      Abbott Building, Road Town, Tortola, British Virgin Islands, and the Company
      will not change such chief executive office and chief place of business or
      remove such records unless the Company shall have given the Lender at least
      10
      Business Days’ prior written notice thereof.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    5.  Covenants.
      The
      Company covenants and agrees with the Lender that from and after the date of
      this Security Agreement and until the Obligations are fully
      satisfied:

     

    (a) Further
      Documentation.
      At any
      time and from time to time, upon the reasonable written request of the Lender,
      and at the sole expense of the Company, the Company will promptly and duly
      execute and deliver any and all such further documents and take such further
      action as Lender may reasonably deem desirable in obtaining the full benefits
      of
      this Security Agreement and of the rights and powers herein granted, including,
      without limitation, the filing of any financing or continuation statements
      under
      the Uniform Commercial Code in effect in any jurisdiction with respect to the
      security interests granted hereby.

     

    (b) Continuous
      Perfection.
      The
      Company will not change its name, identity, jurisdiction of organization or
      corporate structure in any manner unless the Company shall have given the Lender
      at least 10 Business Days' prior written notice thereof and shall have taken
      all
      action (or made arrangements to take such action substantially simultaneously
      with such change if it is impossible to take such action in advance) necessary
      or reasonably requested by the Lender to amend any agreements in connection
      with
      the RMK Loan, any financing statement or any continuation statement filed with
      respect to the Collateral so that the Lender continues to have the full
      benefits, rights and powers granted pursuant to this Security
      Agreement.

    

    6.  Remedies,
      Rights Upon Default. 

     

    (a) In
      addition to any other rights given to the Lender hereunder, if an Event of
      Default shall occur and be continuing and the Lender shall have declared the
      amounts owing under the Note to be due and payable (or such amounts shall have
      automatically, become due and payable), all payments received by the Company
      under or in connection with any of the Collateral shall be held by the Company
      in trust for the Lender, shall be segregated from other funds of the Company
      and
      shall, if requested by the Lender forthwith upon receipt by the Company be
      turned over to the Lender, in the same form as received by the Company (duly
      endorsed by the Company to the Lender, if required).

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b) If
      any
      Event of Default shall occur and be continuing the Lender may exercise in
      addition to all other rights and remedies granted to it in this Security
      Agreement and in any other instrument or agreement securing, evidencing or
      relating to the Obligations, all rights and remedies of a secured party under
      the Code. Without limiting the generality of the foregoing, the Company
      expressly agrees that in any such event, the Lender, without demand of
      performance or other demand, (except the notice specified below of time and
      place of public or private sale) to or upon the Company or any other person
      may
      forthwith collect, receive, appropriate and realize upon the Collateral, or
      any
      part thereof, and/or may forthwith sell, lease, assign, give option or options
      to purchase, or sell or otherwise dispose of and deliver said Collateral (or
      contract to do so), or any part thereof, in one or more parcels at public or
      private sale or sales, at any exchange broker's board or at any of the Lender’
offices or elsewhere at such prices as it may deem best, for cash or on credit
      or for future delivery without assumption of any credit risk. The Lender shall
      have the right upon any such public sale or sales, and, to the extent permitted
      by law, upon any such private sale or sales, to purchase the whole or any part
      of said Collateral so sold, free of any right or equity of redemption, which
      equity of redemption the Company hereby releases. The Company further agrees,
      at
      the Lender’ request, to assemble the Collateral, make it available to the Lender
      at places which the Lender shall reasonably select, whether at the Company's
      premises or elsewhere. The Lender shall apply the net proceeds of any such
      collection, recovery, receipt, appropriation, realization or sale, after
      deducting all reasonable costs and expenses of every kind incurred therein
      or
      incidental to the care, safe keeping or otherwise of any or all of the
      Collateral or in any way relating to the rights of the Lender hereunder,
      including reasonable attorneys' fees and legal expenses, to the payment in
      whole
      or in part of the Obligations, the Company remaining liable for any deficiency
      remaining unpaid after the application, and only after so paying over such
      net
      proceeds and after the payment by the Lender of any other amount required by
      any
      provision of law. To the extent permitted by applicable law, the Company waives
      all claims, damages, and demands against the Lender arising out of the
      repossession, retention or sale of the Collateral. The Company agrees that
      the
      Lender need not give more than 10 Business Days notice of the time and place
      of
      any public sale or of the time after which a private sale may take place and
      that such notice is reasonable notification of such matters. The Company shall
      remain liable for any deficiency if the proceeds of any sale or disposition
      of
      the Collateral are insufficient to pay all amounts to which Lender is
      entitled.

    

    (c) The
      Company hereby waives presentment, demand, protest or any notice (to the extent
      permitted by applicable law) of any kind in connection with this Security
      Agreement or any Collateral.

    

    7.  Application
      of Proceeds.
      The
      Proceeds of all sales and collections in respect of any Collateral shall be
      applied as follows:

     

    (a) First,
      to
      the reasonable payment of the costs and expenses of such sales and collections,
      the expenses of Lender and the reasonable fees and expenses of its
      counsel;

     

    (b) Second,
      any surplus then remaining to the payment of the Obligations in such order
      and
      manner as the Lender may in its sole discretion determine; and

     

    (c) Third,
      any surplus then remaining shall be paid to the Company.

     

    8.  Limitation
      on Lender’s Duty in Respect of Collateral.
      Beyond
      the use of reasonable care in the custody thereof, the Lender shall not have
      any
      duty as to any Collateral in its possession or control or in the possession
      or
      control of any agent or nominee of it or any income thereon or as to the
      preservation of rights against prior parties or any other rights pertaining
      thereto.

     

    9.  Notices.
      Any
      notice, request or other communication required or permitted hereunder shall
      be
      in writing and shall be delivered personally or by facsimile (receipt confirmed
      electronically) or shall be sent by a reputable express delivery service or
      by
      certified mail, postage prepaid with return receipt requested, addressed as
      follows:

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    if
      to
      the Company, to:

    

    Well
      Chance Investments Limited

    C/O
      Jeffrey Dash

    11F,
      Tower A, Building No. 1 GT International Center

    Jia3
      Yongandongli, Jianguomenwai Avenue

    Chaoyang
      District, Beijing 100022

    People’s
      Republic of China

    Tel: 
      +86 10 5879 4890

    Fax:
      +86
      10 5879 4228

     

    if
      to
      Lender, to:

    

    RMK
      Emerging Growth Opportunity Fund LP

    Attn:
      Mr.
      Adam M. Roseman

    9440
      Little Santa Monica Blvd., Suite 401

    Beverly
      Hills, CA  90210

    Tel:
      (310) 402-5901

    Fax:
      (310) 402-5932

     

    Either
      party hereto may change the above specified recipient or mailing address by
      notice to the other party given in the manner herein prescribed. All notices
      shall be deemed given on the day when actually delivered as provided above
      (if
      delivered personally or by facsimile, provided that any such facsimile is
      received during regular business hours at the recipient's location) or on the
      day shown on the return receipt (if delivered by mail or delivery
      service).

     

    10.  Severability.
      Any
      provision of this Security Agreement which is prohibited or unenforceable in
      any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction.

     

    11.  No
      Waiver; Cumulative Remedies.
      The
      Lender shall not by any act, delay, omission or otherwise be deemed to have
      waived any of its rights or remedies hereunder and no waiver shall be valid
      unless in writing, signed by the Lender, and then only to the extent therein
      set
      forth. A waiver by the Lender of any right or remedy hereunder on any one
      occasion shall not be construed as a bar to any right or remedy which the Lender
      would otherwise have had on any future occasion. No failure to exercise nor
      any
      delay in exercising on the part of the Lender, any right, power or privilege
      hereunder, shall operate as a waiver thereof, nor shall any single or partial
      exercise of any right, power or privilege hereunder preclude any other or future
      exercise thereof or the exercise or any other right, power or privilege. The
      rights and remedies hereunder provided are cumulative and may be exercised
      singly or concurrently, and are not exclusive of any rights and remedies
      provided by law. None of the terms or provisions of this Security Agreement
      may
      be waived, altered, modified or amended except by an instrument in writing,
      duly
      executed by the Company and the Lender.

     

    12.  Successors
      and Assigns.
      This
      Security Agreement and all obligations of the Company hereunder shall be binding
      upon the successors and assigns of the Company, and shall, together with the
      rights and remedies of the Lender hereunder, inure to the benefit of the Lender
      and its successors and assigns. The Company may not assign any of its rights
      or
      obligations hereunder without the prior written consent of the Lender. This
      Security Agreement may be assigned by the Lender provided that Lender complies
      with all applicable federal and state securities laws. In the event of an
      assignment by the Lender, each of the parties to this Agreement acknowledge
      and
      agree that the Lender’s assignee is assigned and takes over all rights,
      obligations, responsibilities, duties, remedies, powers and privileges under
      this Agreement from the assigning Lender

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    13.  Governing
      Law.
      This
      Security Agreement shall be governed by and construed in accordance with the
      domestic laws of the State of California without giving effect to any choice
      of
      law or conflict of law provision or rule (whether of the State of California
      or
      any other jurisdiction) that would cause the application of the laws of any
      jurisdiction other than the State of California.

     

    14.  Counterparts.
      This
      Security Agreement may be executed in separate counterparts each of which will
      be an original and all of which taken together will constitute one and the
      same
      agreement.

     

    15.  Facsimile.
      This
      Security Agreement may be executed using facsimiles of signatures, and a
      facsimile of a signature shall be deemed to be the same, and equally
      enforceable, as an original of such signature.

     

    16.  Termination.
      At such
      time as the Obligations have been fully paid in cash or converted into shares
      of
      Company common stock, the security interest created hereby shall automatically
      terminate, the Lender shall take all such actions as may be requested by the
      Company to evidence such termination and to release the liens created hereby,
      at
      the Company's expense. 

     

    *
      * * * *
      *

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, each of the parties hereto has caused this Security Agreement
      to be executed and delivered by its duly authorized officer as of the first
      set
      forth above.

    

    
      	 	
              THE
                COMPANY:

            
	 	 
	 	
              WELL
                CHANCE INVESTMENTS LIMITED

            
	 	 
	 	 
	 	
              By:

            	
              /s/
                Jeffrey Dash

            
	 	 	
              Jeffrey
                Dash,

            
	 	 	
              Chief
                Executive Officer

            
	 	 
	 	
              LENDER:

            
	 	 
	 	
              RMK
                EMERGING GROWTH OPPORTUNITY FUND LP

            
	 	 
	 	
              By:

            	
              /s/
                Adam M. Roseman

            
	 	 	
              Adam
                M. Roseman, as authorized

            
	 	 	
              signatory
                for and on behalf of

            
	 	 	
              ARC
                EMERGING GROWTH PARTNERS, LLC, General Partner of RMK Emerging Growth
                Opportunity Fund LP

            
	 	 	
              Amount
                of Initial Loan: $ 244,733.15

            
	 	 	
              Amount
                of Additional Loan: $200,000

            

    

     

    
      
        
        

      

      
        8The
        securities represented by this Warrant and issuable upon exercise hereof
        have
        not been registered under the Securities Act of 1933, as amended (the "Act"),
        or
        under the provisions of any applicable state securities laws, but have been
        acquired by the registered holder hereof for purposes of investment and in
        reliance on statutory exemptions under the Act, and under any applicable
        state
        securities laws. These securities and the securities issued upon exercise
        hereof
        may not be sold, pledged, transferred or assigned, nor may this Warrant be
        exercised, except in a transaction which is exempt under the provisions of
        the
        Act and any applicable state securities laws or pursuant to an effective
        registration statement.

       

      COMMON
        STOCK PURCHASE WARRANT

       

      
        
          	
                  Date
                    of Issuance: January 31, 2008

                	
                  Certificate
                    No. W-1

                

        

      

       

      For
        value
        received, Noble Quests, Inc., a Nevada corporation (the "Company"),
        hereby grants to RMK Emerging Growth Opportunity Fund LP, a Delaware limited
        partnership, or its permitted transferees and assigns ("Lender"),
        the
        right to purchase from the Company a total of 200,000 shares of the Company's
        common stock, par value $0.001 per share ("Common
        Stock"),
        at a
        price per share of equal to $2.50 (the "Initial
        Exercise Price").
        The
        exercise price and number of Warrant Shares (and the amount and kind of other
        securities) for which this Warrant is exercisable shall be subject to adjustment
        as provided in Section 2 hereof. This Warrant is being issued in connection
        with
        the Loan Agreement between Lender and the Company’s wholly-owned subsidiary Well
        Chance Investments Limited dated January 31, 2008 (the "Loan
        Agreement").
        Certain capitalized terms used herein are defined in Section 4 hereof.

       

      This
        Warrant is subject to the following provisions: 

       

      SECTION
        1. Exercise
        of Warrant.
        

       

      (a) Terms
        of Warrants; Exercise Period.
        Subject
        to the terms of this Agreement, the Registered Holder shall have the right,
        commencing on the date hereof and expiring on the three (3) year anniversary
        hereof (the "Expiration
        Date"),
        to
        exercise this Warrant, in whole or in part, and receive from the Company
        the
        number of Warrant Shares which the Registered Holder may at the time be entitled
        to receive on either: (1) exercise of this Warrant and payment of the Aggregate
        Exercise Price then in effect for the Warrant Shares (“Cash
        Exercise”),
        or
        (2) exercise of this Warrant by Cashless Exercise, as defined in Section
        1(b).
        To the extent not exercised prior to the Expiration Date, this Warrant shall
        become void and all rights thereunder and all rights in respect thereof under
        this Agreement shall cease as of such time.

       

      (b) Cashless
        Exercise.
        In lieu
        of exercising the Warrant by Cash Exercise, the Registered Holder may satisfy
        its obligation to pay the Aggregate Exercise Price for the Warrant Shares
        through a “cashless exercise,” in which event the Company shall issue to the
        Registered Holder the number of Warrant Shares determined as
        follows:

       

      
        	 	
                X
                  =
                  Y [(A-B)/A]

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                where:

              	 
	 	
                X = the number of Warrant Shares to be issued to the Holder.

              

      

      
        	 	 
	 	
                Y
                  =
                  the number of Warrant Shares with respect to which this Warrant
                  is being
                  exercised.

              
	 	 
	 	
                A
                  =
                  the arithmetic average of the Last Sale Price of the Common Stock
                  for the
                  five Trading Days immediately prior to (but not including) the
                  Exercise
                  Time.

              
	 	 
	 	
                B
                  =
                  the Exercise Price.

              

      

       

      (c) Exercise
        Procedure.

       

      (i) This
        Warrant shall be deemed to have been exercised on the date specified in a
        written notice from the Registered Holder to the Company (the "Exercise
        Time")
        and
        within three Business Days following the Exercise Time, the Registered Holder
        shall deliver the following to the Company: 

       

      (A) a
        completed Exercise Notice, as described in Section 1(d) below, in which
        Registered Holder shall provide all information requested therein including
        whether the warrant is being exercised by Cash Exercise or Cashless
        Exercise;

       

      (B) this
        Warrant;

       

      (C) if
        this
        Warrant is not registered in the name of the Registered Holder, an Assignment
        or
        Assignments in the form set forth in Exhibit
        II
        hereto
        evidencing the assignment of this Warrant to the Registered Holder, in which
        case the Registered Holder shall have complied with the provisions set forth
        in
        Section 6 hereof; and

       

      (D) if
        the
        Warrant is being exercised by Cash Exercise, a check payable to the Company
        in
        an amount equal to the product of the Exercise Price (as such term is defined
        in
        Section 2) multiplied by the number of Warrant Shares being purchased upon
        such
        exercise (the "Aggregate
        Exercise Price").

       

      (ii) Certificates
        for Warrant Shares purchased upon exercise of this Warrant shall be delivered
        by
        the Company to the Registered Holder within five Business Days after the
        date of
        the Exercise Time. Unless this Warrant has expired or all of the purchase
        rights
        represented hereby have been exercised, the Company shall prepare a new Warrant,
        substantially identical hereto, representing the rights formerly represented
        by
        this Warrant that have not expired or been exercised and shall, within such
        five
        day period, deliver such new Warrant to the Person designated for delivery
        in
        the Exercise Notice. 

       

      (iii) The
        Warrant Shares issuable upon the exercise of this Warrant shall be deemed
        to
        have been issued to the Registered Holder at the Exercise Time, and the
        Registered Holder shall be deemed for all purposes to have become the record
        holder of such Warrant Shares at the Exercise Time. 

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      (iv) The
        Company shall not close its books against the transfer of this Warrant or
        of any
        Warrant Shares issued or issuable upon the exercise of this Warrant in any
        manner which interferes with the timely exercise of this Warrant. 

       

      (v) The
        Company shall assist and cooperate with the Registered Holder or any Registered
        Holder required to make any governmental filings or obtain any governmental
        approvals prior to or in connection with any exercise of this
        Warrant.

       

      (vi) The
        Company shall at all times reserve and keep available out of its authorized
        but
        unissued capital stock, solely for the purpose of issuance upon the exercise
        of
        this Warrant, the maximum number of Warrant Shares issuable upon the exercise
        of
        this Warrant. All Warrant Shares which are so issuable shall, when issued
        and
        upon the payment of the Exercise Price therefor, be duly and validly issued,
        fully paid and nonassessable and free from all taxes, liens and charges.
        The
        Company shall take all such actions as may be necessary to assure that all
        such
        Warrant Shares may be so issued without violation by the Company of any
        applicable law or governmental regulation or any requirements of any domestic
        securities exchange upon which securities of the Company may be listed (except
        for official notice of issuance which shall be immediately delivered by the
        Company upon each such issuance). 

       

      (d) Exercise
        Notice.
        Upon
        any exercise of this Warrant, the Registered Holder shall deliver an Exercise
        Notice in the form set forth in Exhibit I
        hereto,
        except that if the Warrant Shares are not to be issued in the name of the
        Person
        in whose name this Warrant is registered, the Exercise Notice shall also
        state
        the name of the Person to whom the certificates for the Warrant Shares are
        to be
        issued, and if the number of Warrant Shares to be issued does not include
        all
        the Warrant Shares purchasable or which can be acquired by Cashless Exercise
        hereunder, it shall also state the name of the Person to whom a new Warrant
        for
        the unexercised portion of the rights hereunder is to be issued. Such Exercise
        Notice shall be dated the actual date of execution thereof. 

       

      SECTION
        2. Adjustment
        of Exercise Price and Number of Shares.
        In
        order to prevent dilution of the rights granted under this Warrant, the Initial
        Exercise Price shall be subject to adjustment from time to time as provided
        in
        this Section 2 (such price or such price as last adjusted pursuant to the
        terms hereof, as the case may be, is herein called the "Exercise
        Price"),
        and
        the number of Warrant Shares obtainable upon exercise of this Warrant shall
        be
        subject to adjustment from time to time as provided in this Section 2.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (a) Reorganization,
        Reclassification, Consolidation, Merger or Sale.
        In case
        of any reclassification, capital reorganization, consolidation, merger, sale
        of
        all or substantially all of the Company's assets to another Person or any
        other
        change in the Common Stock of the Company, other than as a result of a
        subdivision, combination, or stock dividend provided for in Section 2(b)
        below (any of which, a "Change
        Event"),
        then,
        as a condition of such Change Event, lawful provision shall be made, and
        duly
        executed documents evidencing the same from the Company or its successor
        shall
        be delivered to the Registered Holder, so that the Registered Holder shall
        have
        the right at any time prior to the expiration of this Warrant to purchase,
        at a
        total price equal to that payable upon the exercise of this Warrant (subject
        to
        adjustment of the Exercise Price as provided in Section 2), the kind and
        amount
        of shares of stock and other securities and property receivable in connection
        with such Change Event by a holder of the same number of shares of Common
        Stock
        as were purchasable by the Registered Holder immediately prior to such Change
        Event. In any such case appropriate provisions shall be made with respect
        to the
        rights and interest of the Registered Holder so that the provisions hereof
        shall
        thereafter be applicable with respect to any shares of stock or other securities
        and property deliverable upon exercise hereof, and appropriate adjustments
        shall
        be made to the purchase price per share payable hereunder, provided the
        aggregate purchase price shall remain the same.

       

      (b) Subdivisions,
        Combinations and Other Issuances.
        If the
        Company shall at any time prior to the expiration of this Warrant (i) subdivide
        its Common Stock, by split-up or otherwise, or combine its Common Stock,
        or (ii)
        issue additional shares of its Common Stock or other equity securities as
        a
        dividend with respect to any shares of its Common Stock, the number of shares
        of
        Common Stock issuable on the exercise of this Warrant shall forthwith be
        proportionately increased in the case of a subdivision or stock, or
        proportionately decreased in the case of a combination. Appropriate adjustments
        shall also be made to the purchase price payable per share, but the aggregate
        purchase price payable for the total number of Warrant Shares purchasable
        under
        this Warrant (as adjusted) shall remain the same. Any adjustment under this
        Section 2(b) shall become effective at the close of business on the date
        the subdivision or combination becomes effective, or as of the record date
        of
        such dividend, or in the event that no record date is fixed, upon the making
        of
        such dividend.

       

      (c) Issuance
        of New Warrant.
        Upon
        the occurrence of any of the events listed in this Section 2 that results
        in an
        adjustment of the type, number or exercise price of the securities underlying
        this Warrant, the Registered Holder shall have the right to receive a new
        warrant reflecting such adjustment upon the Registered Holder tendering this
        Warrant in exchange. The new warrant shall otherwise have terms identical
        to
        this Warrant.

       

      (d) Notices.
        

       

      (i) The
        Company shall give written notice to the Registered Holder of this Warrant
        at
        least 10 calendar days prior to the date on which the Company closes its
        books
        or takes a record for determining rights to vote with respect to any event
        described in this Section 2 or any dissolution or liquidation so long as
        Registered Holder agrees to execute a confidentiality agreement if such
        information has not been disclosed to Company’s shareholders. 

       

      (ii) The
        Company shall also give written notice to the Registered Holder of this Warrant
        at least 10 days prior to the date on which any event described in this Section
        2 or any dissolution or liquidation shall take place so long as Registered
        Holder agrees to execute a confidentiality agreement if such information
        has not
        been disclosed to Company’s shareholders. 

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      SECTION
        3. Registration
        Rights.
        The
        Lender shall be entitled to the registration rights set forth in the Loan
        Agreement.

       

      SECTION
        4. Definitions.
        The
        following terms have the meanings set forth below: 

       

      “Act”
means
        the Securities Act of 1933, as amended.

       

      “Business
        Day”
means
        any day except Saturday, Sunday and any day which shall be a federal legal
        holiday or a day on which banking institutions in the State of California
        are
        authorized or required by law or other governmental action to close

       

      “Exchange
        Act”
means
        the Securities Exchange Act of 1934, as amended.

       

      “Last
        Sale Price”
means
        (i) if the Common Stock is listed on a national securities exchange, the
        NASDAQ
        Global Select Market, the NASDAQ Global Market, or the NASDAQ Capital Market,
        the last trading price per share of the Common Stock for such date, (ii)
        if the
        Common Stock is quoted on the NASD OTC Bulletin Board (or successor such
        as the
        Bulletin Board Exchange), the closing bid price of the Common Stock on such
        date, (iii) if the Common Stock is traded in the residual over-the-counter
        market, the closing bid price for the Common Stock for such date as reported
        by
        the Pink Sheets, LLC or similar publisher of such quotations, and (iv) if
        the
        fair market value of the Common Stock cannot be determined pursuant to clause
        (i), (ii) or (iii) above, such price as the Board of Directors of the Company
        shall determine, in good faith.

       

      "Person"
        means
        an individual, a limited liability company, a partnership, a joint venture,
        a
        corporation, a trust, an unincorporated organization and a government or
        any
        department or agency thereof. 

       

      "Registered
        Holders"
        means,
        collectively, any other holder of a Warrant or Warrant Shares, if any, reflected
        as such on the books of the Company.

       

      “Trading
        Day”
means
        (i) a day on which the Common Stock is traded on a Trading Market (other
        than
        the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading
        Market (other than the OTC Bulletin Board), a day on which the Common Stock
        is
        traded in the over-the-counter market, as reported by the OTC Bulletin Board,
        or
        (iii) if the Common Stock is not quoted on any Trading Market, a day on which
        the Common Stock is quoted in the over-the-counter market as reported by
        the
        Pink Sheets LLC (or any similar organization or agency succeeding to its
        functions of reporting prices); provided, that in the event that the Common
        Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof,
        then
        Trading Day shall mean a Business Day.

       

      "Trading
        Market"
        means
        whichever of the New York Stock Exchange, the American Stock Exchange, the
        NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital
        Market
        or OTC Bulletin Board on which the Common Stock is listed or quoted for trading
        on the date in question.

       

      "Warrant"
        means
        the right to purchase one or more Warrant Shares pursuant to the terms of
        this
        Warrant, as the same may be transferred, divided or exchanged pursuant to
        the
        terms hereof.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      "Warrant
        Shares"
        means
        shares of the Common Stock issuable upon exercise of the Warrant; provided,
        however, that if there is a change such that the securities issuable upon
        exercise of the Warrant are issued by an entity other than the Company or
        there
        is a change in the class of securities so issuable, then the term "Warrant
        Shares" shall mean shares of the security issuable upon exercise of the Warrant
        if such security is issuable in shares, or shall mean the equivalent units
        in
        which such security is issuable if such security is not issuable in
        shares.

       

      SECTION
        5. No
        Voting Rights; Limitations of Liability.
        This
        Warrant shall not entitle the holder hereof to any voting rights or other
        rights
        as a stockholder of the Company. No provision hereof, in the absence of
        affirmative action by the Registered Holder to purchase Warrant Shares, and
        no
        enumeration herein of the rights or privileges of the Registered Holder shall
        give rise to any liability of such holder for the Exercise Price of Warrant
        Shares acquirable by exercise hereof or as a stockholder of the Company.
        

       

      SECTION
        6. Warrant
        Transferable.
        Subject
        to compliance with applicable securities laws and the terms of this Section
        6,
        this Warrant and all rights hereunder are transferable, in whole or in part,
        without charge to the Registered Holder upon surrender of this Warrant with
        a
        properly executed Assignment (in the form of Exhibit II
        hereto)
        at the principal office of the Company.

       

      SECTION
        7. Warrant
        Exchangeable for Different Denominations.
        This
        Warrant is exchangeable, upon the surrender hereof by the Registered Holder
        at
        the principal office of the Company, for new Warrants of like tenor representing
        in the aggregate the purchase rights hereunder, and each of such new Warrants
        shall represent such portion of such rights as is designated by the Registered
        Holder at the time of such surrender. The effective date that the Company
        initially issues this Warrant shall be deemed to be the "Date of Issuance"
        hereof regardless of the number of times new certificates representing the
        unexpired and unexercised rights formerly represented by this Warrant shall
        be
        issued. All Warrants representing portions of the rights hereunder are referred
        to herein as the "Warrants." 

       

      SECTION
        8. Replacement.
        Upon
        receipt of evidence reasonably satisfactory to the Company of the ownership
        and
        the loss, theft, destruction or mutilation of any certificate evidencing
        this
        Warrant, and in the case of any such loss, theft or destruction, upon receipt
        of
        indemnity reasonably satisfactory to the Company, or, in the case of any
        such
        mutilation upon surrender of such certificate, the Company shall (at the
        expense
        of the Registered Holder) execute and deliver in lieu of such certificate
        a new
        certificate of like kind representing the same rights represented by such
        lost,
        stolen, destroyed or mutilated certificate and dated the date of such lost,
        stolen, destroyed or mutilated certificate. 

       

      SECTION
        9. Notices.
        All
        notices, requests, deliveries, consents and other communications provided
        for
        herein shall be in writing and shall be effective upon delivery in person,
        faxed, or mailed by overnight courier service or certified or registered
        mail,
        return receipt requested, postage pre-paid, addressed as follows:

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      if
        to
        the Company, to:

      

      Noble
        Quests, Inc.

      C/O
        Jeffrey Dash

      11F,
        Tower A, Building No. 1 GT International Center

      Jia3
        Yongandongli, Jianguomenwai Avenue

      Chaoyang
        District, Beijing, China 100022

      Tel: 
        +86 10 5879 4890

      Fax:
        +86
        10 5879 4228

       

      if
        to
        the Lender, to:

      

      RMK
        Emerging Growth Opportunity Fund LP

      Attn:
        Mr.
        Adam M. Roseman

      9440
        Little Santa Monica Blvd., Suite 401

      Beverly
        Hills, CA  90210

      Tel:
        (310) 402-5901

      Fax:
        (310) 402-5932

      

      or,
        in
        any case, at such other address or addresses as shall have been furnished
        in
        writing to the Company (in the case of a Registered Holder of Warrants) or
        to
        the Registered Holders of Warrants (in the case of the Company) in accordance
        with the provisions of this paragraph.

       

      SECTION
        10. Amendment
        and Waiver.
        Except
        as otherwise provided herein, the provisions of the Warrants may be amended
        and
        the Company may take any action herein prohibited, or omit to perform any
        act
        herein required to be performed by it, only if the Company has obtained the
        written consent of the Registered Holders of Warrants representing a majority
        of
        the Warrant Shares obtainable upon exercise of the then-outstanding Warrants;
        provided, however, that no such action may change the Exercise Price of the
        Warrants or the number of shares or class of capital stock obtainable upon
        exercise of each Warrant without the written consent of all Registered
        Holders.

       

      SECTION
        11. 
        Descriptive Headings; Governing Law. 

       

      (a) The
        descriptive headings of the several Sections of this Warrant are inserted
        for
        convenience only and do not constitute a part of this Warrant. 

       

      (b) All
        issues and questions concerning the construction, validity, enforcement and
        interpretation of this Agreement shall be governed by, and construed in
        accordance with, the laws of the State of California, without giving effect
        to
        any choice of law or conflict of law rules or provisions (whether of the
        State
        of California or any other jurisdiction) that would cause the application
        of the
        laws of any jurisdiction other than the State of California.

       

      SECTION
        12. Warrant
        Register.
        The
        Company shall maintain at its principal executive office books for the
        registration and the registration of transfer of this Warrant. The Company
        may
        deem and treat the Registered Holder as the absolute owner hereof
        (notwithstanding any notation of ownership or other writing thereon made
        by
        anyone) for all purposes and shall not be affected by any notice to the
        contrary.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      SECTION
        13. Fractions
        of Shares.
        The
        Company may, but shall not be required, to issue a fraction of a Warrant
        Share
        upon the exercise of this Warrant in whole or in part. As to any fraction
        of a
        share which the Company elects not to issue, the Company shall make a cash
        payment in respect of such fraction in an amount equal to the same fraction
        of
        the market price of a Warrant Share on the date of such exercise (as determined
        by the board of directors in its reasonable discretion).

       

      *
        * * * *

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the Company has caused this Warrant to be signed and attested
        by its duly authorized officers and to be dated as of the Date of Issuance
        hereof. 

       

      
        	
                NOBLE
                  QUESTS, INC.

              
	 
	 
	
                By:

              	
                /s/
                  Shannon McCallum-Law

              
	 	
                Name:
                  Shannon McCallum-Law 

              
	 	
                Title:
                  Chief Executive Officer

              

      

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I

       

      FORM
        OF EXERCISE NOTICE

       

      To:
        Noble
        Quests, Inc.

       

      The
        undersigned is the Registered Holder of Warrant No. _______ (the “Warrant”)
        issued by Noble Quests, Inc., a Nevada corporation (the “Company”). Capitalized
        terms used herein and not otherwise defined have the respective meanings
        set
        forth in the Warrant.

       

      The
        Warrant is currently exercisable to purchase a total of ______________ Warrant
        Shares.

       

      The
        undersigned Registered Holder hereby exercises its right to purchase
        _________________ Warrant Shares pursuant to the Warrant.

       

      The
        Holder intends that payment of the Exercise Price shall be made as (check
        one):

       

      o “Cash
        Exercise” under Section 1

       

      o “Cashless
        Exercise” under Section 1

       

      If
        the
        holder has elected a Cash Exercise, the holder shall pay the sum of
        $____________ to the Company in accordance with the terms of the
        Warrant.

       

      Pursuant
        to this exercise, the Company shall deliver to the Registered Holder __________
        Warrant Shares in accordance with the terms of the Warrant. If the Warrant
        Shares to be issued pursuant to the exercise are to be registered in the
        name(s)
        of a Person(s) other than the name of the Registered Holder, then please
        provide
        the Person(s) name(s) and address(es) (attach separate sheet if needed):
        

       

      
        	 

	 

      

       

      Following
        this exercise, the Warrant shall be exercisable to purchase a total of
        ______________ Warrant Shares.

       

      If
        the
        Warrant is not fully exercised, the name of the Person to whom a new Warrant
        for
        the unexercised portion of the Warrant shall be issued and that Person’s address
        is as follows (attach separate sheet if needed): 

      
        	  

	  

      

       

      
        	
                
                  Dated:
                    __________________ ,
                    ___

                

              	 	
                Name
                  of Registered Holder:

              
	 	 	 
	 	 	
                (Print)___________________________________________________

              
	 	 	 
	 	 	
                By:_____________________________________________________

              
	 	 	
                Name:___________________________________________________

              
	 	 	
                Title:____________________________________________________

              
	 	 	
                (Signature
                  must conform in all respects to name of holder as specified on
                  the face of
                  the Warrant)

              

      

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      EXHIBIT
        II

       

      ASSIGNMENT

       

      FOR
        VALUE
        RECEIVED, _____________________________ hereby sells, assigns and transfers
        all
        of the rights of the undersigned under the attached Warrant (Certificate
        No.
        W-_____) with respect to the number of the Warrant Shares covered thereby
        set
        forth below, unto: 

       

      
        	
                Names
                  of Assignee

              	
                Address

              	
                No. of Shares

              
	 	 	 
	 	 	 

      

       

      
        	
                Dated:

              	
                Signature

              	
                _______________________

              
	 	 	 
	
              	
                Witness

              	
                
                  _______________________

                

              

      

       

      The
        Assignee agrees to be bound by the terms of the Warrant.

       

      
        
          	
                   

                	
                  Signature

                	
                  _______________________

                
	 	 	 
	
                	
                  Witness

                	
                  
                    _______________________

                  

                

        

        

          
            
              
              

            

            
              11

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