Document:

Exhibit 4.2

    
      

    

     

    Exhibit
      4.2

     

    

      REGISTRATION
        RIGHTS AGREEMENT

      

      Registration
        Rights Agreement (the “Agreement”),
        dated
        as of April 24, 2006, by and between Amacore Group, Inc., a corporation
        organized under the laws of State of Delaware, with its principal executive
        office at 1511 N. Westshore Blvd., Suite 925, Tampa, FL 33607 (the “Company”),
        and
        Dutchess Private Equities Fund, L.P., a Delaware limited partnership with
        its
        principal office at 50 Commonwealth Avenue, Suite 2, Boston, MA 02116 (the
        “Holder”).

      

      Whereas, in
        connection with the Investment Agreement by and between the Company and the
        Investor of this date (the “Investment
        Agreement”),
        the
        Company has agreed to issue and sell to the Investor an indeterminate number
        of
        shares of the Company’s Common Stock, $.0001par value per share (the
“Common
        Stock”),
        to be
        purchased pursuant to the terms and subject to the conditions set forth in
        the
        Investment Agreement; and 

      

      Whereas, to
        induce
        the Investor to execute and deliver the Investment Agreement, the Company
        has
        agreed to provide certain registration rights under the Securities Act of
        1933,
        as amended, and the rules and regulations thereunder, or any similar successor
        statute (collectively, the “1933
        Act”),
        and
        applicable state securities laws, with respect to the shares of Common Stock
        issuable pursuant to the Investment Agreement.

      

      Now
        therefore, in consideration of the foregoing promises and the mutual covenants
        contained hereinafter and other good and valuable consideration, the receipt
        and
        sufficiency of which are hereby acknowledged, the Company and the Investor
        hereby agree as follows: 

      

      

      Section
        1. DEFINITIONS.

      

      As
        used
        in this Agreement, the following terms shall have the following
        meanings:

      

      “Execution
        Date”
means
        the date of this Agreement set forth above.

      

      “Investor”
means
        Dutchess Private Equities Fund, L.P., a Delaware limited
        partnership.

      

      “Person”
means
        a
        corporation, a limited liability company, an association, a partnership,
        an
        organization, a business, an individual, a governmental or political subdivision
        thereof or a governmental agency. 

      

      “Potential
        Material Event”
means
        any of the following: (i)
        the
        possession by the Company of material information not ripe for disclosure
        in the
        Registration Statement, which shall be evidenced by determinations in good
        faith
        by the Board of Directors of the Company that disclosure of such information
        in
        the Registration Statement would be detrimental to the business and affairs
        of
        the Company, or (ii)
        any
        material engagement or activity by the Company which would, in the good faith
        determination of the Board of Directors of the Company, be adversely affected
        by
        disclosure in the Registration Statement at such time, which determination
        shall
        be accompanied by a good faith determination by the Board of Directors of
        the
        Company that the Registration Statement would be materially misleading absent
        the inclusion of such information.

      

      “Principal
        Market”
shall
        mean The American Stock Exchange, National Association of Securities Dealer’s,
        Inc., Over-the-Counter electronic bulletin board, the Nasdaq National Market
        or
        The Nasdaq SmallCap Market whichever is the principal market on which the
        Common
        Stock of the Company is listed. 

       

      “Register,”
        “Registered,”
and
        “Registration”
refer
        to the Registration effected by preparing and filing one (1) or more
        Registration Statements in compliance with the 1933 Act and pursuant to Rule
        415
        under the 1933 Act or any successor rule providing for offering securities
        on a
        continuous basis (“Rule
        415”),
        and
        the declaration or ordering of effectiveness of such Registration Statement(s)
        by the United States Securities and Exchange Commission (the
“SEC”).

      
        
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      “Registrable
        Securities”
means
        (i)
        the
        shares of Common Stock issued or issuable pursuant to the Investment Agreement,
        and (ii)
        any
        shares of capital stock issued or issuable with respect to such shares of
        Common
        Stock, if any, as a result of any stock split, stock dividend, recapitalization,
        exchange or similar event or otherwise, which have not been (x)
        included
        in the Registration Statement that has been declared effective by the SEC,
        or
(y)
        sold
        under circumstances meeting all of the applicable conditions of Rule 144
        (or any
        similar provision then in force) under the 1933 Act.

      

      “Registration
        Statement”
means
        the registration statement of the Company filed under the 1933 Act covering
        the
        Registrable Securities.

      

      All
        capitalized terms used in this Agreement and not otherwise defined herein
        shall
        have the same meaning ascribed to them as in the Investment Agreement.

      

      

      Section
        2. REGISTRATION.

      

      (a)
        The
        Company shall, within twenty-one (21) days of the date of this Agreement,
        file
        with the SEC the Registration Statement or Registration Statements (as is
        necessary) on Form SB-2 (or, if such form is unavailable for such a
        registration, on such other form as is available for such registration),
        covering the resale of all of the Registrable Securities, which Registration
        Statement(s) shall state that, in accordance with Rule 416 promulgated under
        the
        1933 Act, such Registration Statement also covers such indeterminate number
        of
        additional shares of Common Stock as may become issuable upon stock splits,
        stock dividends or similar transactions. The Company shall initially register
        for resale such amount of Common Stock which would be issuable on the date
        preceding the filing of the Registration Statement based on the closing bid
        price of the Company’s Common Stock on such date and the amount reasonably
        calculated that represents Common Stock issuable to other parties as set
        forth
        in the Investment Agreement except to the extent that the SEC requires the
        share
        amount to be reduced as a condition of effectiveness. Notwithstanding
        the foregoing, provided the Company has instructed its securities counsel
        and
        independent auditors to prepare the above Registration Statement and fully
        cooperate with said professionals in the preparation of said document, the
        Company shall not be deemed in default of this provision if said professionals
        fail or are otherwise unable to file the Registration Statement within
        twenty-one (21) days of the date of this Agreement. The Company shall use
        its
        best efforts to see to it that said professionals meet said twenty-one (21)
        day
        requirement.

      

      (b)
        The
        Company shall use all commercially reasonable efforts to have the Registration
        Statement(s) declared effective by the SEC within ninety (90) calendar days
        after the Execution Date. 

      
 

      (c)
        The
        Company agrees that it will not file any other Registration Statement for
        other
        securities, until thirty calendar days after the Registration Statement for
        the
        Registrable Securities is declared effective by the SEC. 

      

      Section
        3. RELATED
        OBLIGATIONS.

      

      At
        such
        time as the Company is obligated to prepare and file the Registration Statement
        with the SEC pursuant to Section 2(a), the Company will effect the registration
        of the Registrable Securities in accordance with the intended method of
        disposition thereof and, with respect thereto, the Company shall have the
        following obligations:

      
        
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      (a)
        The
        Company shall use all commercially reasonable efforts to cause such Registration
        Statement relating to the Registrable Securities to become effective within
        ninety (90) days after the Execution Date and shall keep such Registration
        Statement effective until the earlier to occur of the date on which (A)
        the
        Investor shall have sold all the Registrable Securities; or (B)
        the
        Investor has no right to acquire any additional shares of Common Stock under
        the
        Investment Agreement (the “Registration
        Period”).
        The
        Registration Statement (including any amendments or supplements thereto and
        prospectuses contained therein) shall not contain any untrue statement of
        a
        material fact or omit to state a material fact required to be stated therein,
        or
        necessary to make the statements therein, in light of the circumstances in
        which
        they were made, not misleading. The Company shall use all commercially
        reasonable efforts to respond to all SEC comments within seven (7) business
        days
        from receipt of such comments by the Company. The Company shall use all
        commercially reasonable efforts to cause the Registration Statement relating
        to
        the Registrable Securities to become effective no later than five (5) business
        days after notice from the SEC that the Registration Statement may be declared
        effective. The Investor agrees to provide all information which it is required
        by law to provide to the Company, including the intended method of disposition
        of the Registrable Securities, and the Company’s obligations set forth above
        shall be conditioned on the receipt of such information.

      

      (b)
        The
        Company shall prepare and file with the SEC such amendments (including
        post-effective amendments) and supplements to the Registration Statement
        and the
        prospectus used in connection with such Registration Statement, which prospectus
        is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may
        be
        necessary to keep such Registration Statement effective during the Registration
        Period, and, during such period, comply with the provisions of the 1933 Act
        with
        respect to the disposition of all Registrable Securities of the Company covered
        by such Registration Statement until such time as all of such Registrable
        Securities shall have been disposed of in accordance with the intended methods
        of disposition by the Investor thereof as set forth in such Registration
        Statement. In the event the number of shares of Common Stock covered by the
        Registration Statement filed pursuant to this Agreement is at any time
        insufficient to cover all of the Registrable Securities, the Company shall
        amend
        such Registration Statement, or file a new Registration Statement (on the
        short
        form available therefor, if applicable), or both, so as to cover all of the
        Registrable Securities, in each case, as soon as practicable, but in any
        event
        within thirty (30) calendar days after the necessity therefor arises (based
        on
        the then Purchase Price of the Common Stock and other relevant factors on
        which
        the Company reasonably elects to rely), assuming the Company has sufficient
        authorized shares at that time, and if it does not, within thirty (30) calendar
        days after such shares are authorized. The Company shall use commercially
        reasonable efforts to cause such amendment and/or new Registration Statement
        to
        become effective as soon as practicable following the filing thereof.

      

      (c)
        The
        Company shall make available to the Investor whose Registrable Securities
        are
        included in any Registration Statement and its legal counsel without charge
        (i)
        promptly
        after the same is prepared and filed with the SEC at least one (1) copy of
        such
        Registration Statement and any amendment(s) thereto, including financial
        statements and schedules, all documents incorporated therein by reference
        and
        all exhibits, the prospectus included in such Registration Statement (including
        each preliminary prospectus) and, with regards to such Registration
        Statement(s), any correspondence by or on behalf of the Company to the SEC
        or
        the staff of the SEC and any correspondence from the SEC or the staff of
        the SEC
        to the Company or its representatives; (ii)
        upon the
        effectiveness of any Registration Statement, the Company shall make available
        copies of the prospectus, via EDGAR, included in such Registration Statement
        and
        all amendments and supplements thereto; and (iii)
        such
        other documents, including copies of any preliminary or final prospectus,
        as the
        Investor may reasonably request from time to time in order to facilitate
        the
        disposition of the Registrable Securities.

       

      (d)
        The
        Company shall use commercially reasonable efforts to (i)
        register
        and qualify the Registrable Securities covered by the Registration Statement
        under such other securities or “blue sky” laws of such states in the United
        States as the Investor reasonably requests; (ii)
        prepare
        and file in those jurisdictions, such amendments (including post-effective
        amendments) and supplements to such registrations and qualifications as may
        be
        necessary to maintain the effectiveness thereof during the Registration Period;
        (iii)
        take
        such other actions as may be necessary to maintain such registrations and
        qualifications in effect at all times during the Registration Period, and
        (iv)
        take all
        other actions reasonably necessary or advisable to qualify the Registrable
        Securities for sale in such jurisdictions; provided,
        however,
        that
        the Company shall not be required in connection therewith or as a condition
        thereto to (x) 

      
        
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      qualify
        to do business in any jurisdiction where it would not otherwise be required
        to
        qualify but for this Section 3(d), or (y)
        subject
        itself to general taxation in any such jurisdiction. The Company shall promptly
        notify the Investor who holds Registrable Securities of the receipt by the
        Company of any notification with respect to the suspension of the registration
        or qualification of any of the Registrable Securities for sale under the
        securities or “blue sky” laws of any jurisdiction in the United States or its
        receipt of actual notice of the initiation or threatening of any proceeding
        for
        such purpose.

      

      (e)
        As
        promptly as practicable after becoming aware of such event, the Company shall
        notify Investor in writing of the happening of any event as a result of which
        the prospectus included in the Registration Statement, as then in effect,
        includes an untrue statement of a material fact or omission to state a material
        fact required to be stated therein or necessary to make the statements therein,
        in light of the circumstances under which they were made, not misleading
        (“Registration
        Default”)
        and
        use all diligent efforts to promptly prepare a supplement or amendment to
        such
        Registration Statement and take any other necessary steps to cure the
        Registration Default (which, if such Registration Statement is on Form S-3,
        may
        consist of a document to be filed by the Company with the SEC pursuant to
        Section 13(a), 13(c), 14 or 15(d) of the 1934 Act (as defined below) and
        to be
        incorporated by reference in the prospectus) to correct such untrue statement
        or
        omission, and make available copies of such supplement or amendment to the
        Investor. The Company shall also promptly notify the Investor (i)
        when a
        prospectus or any prospectus supplement or post-effective amendment has been
        filed, and when the Registration Statement or any post-effective amendment
        has
        become effective (the Company will prepare notification of such effectiveness
        which shall be delivered to the Investor on the same day of such effectiveness
        and by overnight mail), additionally, the Company will promptly provide to
        the
        Investor, a copy of the effectiveness order prepared by the SEC once it is
        received by the Company; (ii)
        of any
        request by the SEC for amendments or supplements to the Registration Statement
        or related prospectus or related information, (iii)
        of
        the
        Company’s reasonable determination that a post-effective amendment to the
        Registration Statement would be appropriate, (iv)
        in the
        event the Registration Statement is no longer effective, or
        (v) if
        the
        Registration Statement is stale as a result of the Company’s failure to timely
        file its financials or otherwise. The Company acknowledges that its failure
        to
        cure the Registration Default within ten (10) business days will cause the
        Investor to suffer damages in an amount that will be difficult to ascertain.
        Accordingly, the parties agree that it is appropriate to include a provision
        for
        liquidated damages. The parties acknowledge and agree that the liquidated
        damages provision set forth in this section represents the parties’ good faith
        effort to quantify such damages and, as such, agree that the form and amount
        of
        such liquidated damages are reasonable and will not constitute a penalty.
        It is
        the intention of the parties that interest payable under any of the terms
        of
        this Agreement shall not exceed the maximum amount permitted under any
        applicable law. If a law, which applies to this Agreement, which sets the
        maximum interest amount, is finally interpreted so that the interest in
        connection with this Agreement exceeds the permitted limits, then: (1)
        any such
        interest shall be reduced by the amount necessary to reduce the interest
        to the
        permitted limit; and (2)
        any sums
        already collected (if any) from the Company which exceed the permitted limits
        will be refunded to the Company. The Investor may choose to make this refund
        by
        reducing the amount that the Company owes under this Agreement or by making
        a
        direct payment to the Company. If a refund reduces the amount that the Company
        owes the Investor, the reduction will be treated as a partial payment.

      

      (f)
        The
        Company shall use all commercially reasonable efforts to prevent the issuance
        of
        any stop order or other suspension of effectiveness of the Registration
        Statement, or the suspension of the qualification of any of the Registrable
        Securities for sale in any jurisdiction and, if such an order or suspension
        is
        issued, to obtain the withdrawal of such order or suspension at the earliest
        possible moment and to notify the Investor holding Registrable Securities
        being
        sold of the issuance of such order and the resolution thereof or its receipt
        of
        actual notice of the initiation or threat of any proceeding concerning the
        effectiveness of the registration statmeent.

      

      (g)
        The
        Company shall permit the Investor and one (1) legal counsel, designated by
        the
        Investor, to review and comment upon the Registration Statement and all
        amendments and supplements thereto at least one (1) calendar day prior to
        their
        filing with the SEC. 

      
        
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      However,
        any postponement of a filing of a Registration Statement or any postponement
        of
        a request for acceleration or any postponement of the effective date or
        effectiveness of a Registration Statement by written request of the Investor
        (collectively, the "Investor's Delay") shall not act to trigger any penalty
        of
        any kind, or any cash amount due or any in-kind amount due the Investor from
        the
        Company under any and all agreements of any nature or kind between the Company
        and the Investor. The event(s) of an Investor's Delay shall act to suspend
        all
        obligations of any kind or nature of the Company under any and all agreements
        of
        any nature or kind between the Company and the Investor. 

      

      (h)
        At the
        request of the Investor, the Company's counsel shall furnish to the Investor
        an
        opinion letter confirming the effectiveness of the registration statement.
        Such
        opinion letter shall be issued as of the date of the effectiveness of the
        registration statement and be in form suitable to the Investor.

      

      (i)
        The
        Company shall hold in confidence and not make any disclosure of information
        concerning the Investor unless (i)
        disclosure
        of such information is necessary to comply with federal or state securities
        laws, (ii)
        the
        disclosure of such information is necessary to avoid or correct a misstatement
        or omission in any Registration Statement, (iii)
        the
        release of such information is ordered pursuant to a subpoena or other final,
        non-appealable order from a court or governmental body of competent
        jurisdiction, or (iv)
        such
        information has been made generally available to the public other than by
        disclosure in violation of this Agreement or any other agreement. The Company
        agrees that it shall, upon learning that disclosure of such information
        concerning the Investor is sought in or by a court or governmental body of
        competent jurisdiction or through other means, give prompt written notice
        to the
        Investor and allow the Investor, at the Investor’s expense, to undertake
        appropriate action to prevent disclosure of, or to obtain a protective order
        covering such information.

      

      (j)
        The
        Company shall use all commercially reasonable efforts to maintain designation
        and quotation of all the Registrable Securities covered by any Registration
        Statement on the Principal Market. If, despite the Company’s commercially
        reasonable efforts, the Company is unsuccessful in satisfying the preceding
        sentence, it shall use commercially reasonable efforts to cause all the
        Registrable Securities covered by any Registration Statement to be listed
        on
        each other national securities exchange and automated quotation system, if
        any,
        on which securities of the same class or series issued by the Company are
        then
        listed, if any, if the listing of such Registrable Securities is then permitted
        under the rules of such exchange or system. The Company shall pay all fees
        and
        expenses in connection with satisfying its obligation under this Section
        3(j).

      

      (k)
        The
        Company shall cooperate with the Investor to facilitate the prompt preparation
        and delivery of certificates representing the Registrable Securities to be
        offered pursuant to the Registration Statement and enable such certificates
        to
        be in such denominations or amounts, as the case may be, as the Investor
        may
        reasonably request (and after any sales of such Registrable Securities by
        the
        Investor, such certificates not bearing any restrictive legend).

      

      (l)
        The
        Company shall provide a transfer agent for all the Registrable Securities
        not
        later than the effective date of the first Registration Statement filed pursuant
        hereto.

      

      (m)
        If
        requested by the Investor, the Company shall (i)
        as soon
        as reasonably practical incorporate in a prospectus supplement or post-effective
        amendment such information as the Investor reasonably determines should be
        included therein relating to the sale and distribution of Registrable
        Securities, including, without limitation, information with respect to the
        offering of the Registrable Securities to be sold in such offering; (ii)
        make all
        required filings of such prospectus supplement or post-effective amendment
        as
        soon as reasonably possible after being notified of the matters to be
        incorporated in such prospectus supplement or post-effective amendment; and
        (iii)
        supplement or make amendments to any Registration Statement if reasonably
        requested by the Investor.

      

      (n)
        The
        Company shall use all commercially reasonable efforts to cause the Registrable
        Securities covered by the applicable Registration Statement to be registered
        with or approved by such other governmental agencies or authorities as may
        be
        necessary to facilitate the disposition of such Registrable
        Securities.

      
        
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      (o)
        The
        Company shall otherwise use all commercially reasonable efforts to comply
        with
        all applicable rules and regulations of the SEC in connection with any
        registration hereunder.

      

      (p)
        Within
        one (1) business day after the Registration Statement which includes Registrable
        Securities is declared effective by the SEC, the Company shall deliver to
        the
        transfer agent for such Registrable Securities, with copies to the Investor,
        confirmation that such Registration Statement has been declared effective
        by the
        SEC.

      

      (q)
        The
        Company shall take all other reasonable actions necessary to expedite and
        facilitate disposition by the Investor of Registrable Securities pursuant
        to the
        Registration Statement.

      

      

      Section
        4. OBLIGATIONS
        OF THE INVESTOR.

       

      (a)
        At least
        five (5) calendar days prior to the first anticipated filing date of the
        Registration Statement the Company shall notify the Investor in writing of
        the
        information the Company requires from the Investor for the Registration
        Statement. It shall be a condition precedent to the obligations of the Company
        to complete the registration pursuant to this Agreement with respect to the
        Registrable Securities and the Investor agrees to furnish to the Company
        that
        information regarding itself, the Registrable Securities and the intended
        method
        of disposition of the Registrable Securities as shall reasonably be required
        to
        effect the registration of such Registrable Securities and the Investor shall
        execute such documents in connection with such registration as the Company
        may
        reasonably request. The Investor covenants and agrees that, in connection
        with
        any sale of Registrable Securities by it pursuant to the Registration Statement,
        it shall comply with the “Plan of Distribution” section of the then current
        prospectus relating to such Registration Statement.

      

      (b)
        The
        Investor, by its acceptance of the Registrable Securities, agrees to cooperate
        with the Company as reasonably requested by the Company in connection with
        the
        preparation and filing of any Registration Statement hereunder, unless the
        Investor has notified the Company in writing of an election to exclude all
        of
        the Investor’s Registrable Securities from such Registration Statement.

      

      (c)
        The
        Investor agrees that, upon receipt of written notice from the Company of
        the
        happening of any event of the kind described in Section 3(f) or the first
        sentence of 3(e), the Investor will immediately discontinue disposition of
        Registrable Securities pursuant to any Registration Statement(s) covering
        such
        Registrable Securities until the Investor’s receipt of the copies of the
        supplemented or amended prospectus contemplated by Section 3(f) or the first
        sentence of 3(e)

      

      

      Section
        5. EXPENSES
        OF REGISTRATION.

      

      All
        expenses, other than underwriting discounts and commissions and other than
        as
        set forth in the Investment Agreement, incurred in connection with registrations
        including comments, filings or qualifications pursuant to Sections 2 and
        3,
        including, without limitation, all registration, listing and qualifications
        fees, printing and accounting fees, and fees and disbursements of counsel
        for
        the Company or for the Investor shall be paid by the Company.

      

      

      Section
        6. INDEMNIFICATION.

      

      In
        the
        event any Registrable Securities are included in the Registration Statement
        under this Agreement:

      

      (a)
        To the
        fullest extent permitted by law, the Company, under this Agreement, will,
        and
        hereby does, indemnify, hold harmless and defend the Investor who holds
        Registrable Securities, the directors, officers, partners, employees, counsel,
        agents, representatives of, and each Person, if any, who controls, any Investor
        within the meaning of the 1933 Act or the Securities Exchange Act of 1934,
        as
        amended (the “1934
        Act”)
        (each,
        an “Indemnified
        Person”),
        against any losses, claims, damages, liabilities, judgments, fines, penalties,
        charges, costs, attorneys’ fees, amounts paid in settlement or expenses, joint
        or several (collectively, “Claims”),
        incurred in investigating, preparing or defending any action, claim, suit,
        inquiry, proceeding, investigation or appeal taken from the foregoing by
        or
        before any court or governmental, administrative or other regulatory agency,
        body or the SEC, whether pending or threatened, whether or not an indemnified
        party is or may be a party thereto (“Indemnified
        Damages”),
        to
        which any of them may become subject insofar as such Claims (or actions or
        proceedings, whether commenced or threatened, in respect thereof) arise out
        of
        or are based upon: (i)
        any
        untrue statement or alleged untrue statement of a material fact in the
        Registration Statement or any post-effective amendment thereto or in any
        filing
        made in connection with the qualification of the offering under the securities
        or other “blue sky” laws of any jurisdiction in which the Investor has requested
        in writing that the Company register or qualify the Shares (“Blue
        Sky Filing”),
        or
        the omission or alleged omission to state a material fact required to be
        stated
        therein or necessary to make the statements therein, in light of the
        circumstances under which the statements therein were made, not misleading,
        (ii)
        any
        untrue statement or alleged untrue statement of a material fact contained
        in the
        final prospectus (as amended or supplemented, if the Company files any amendment
        thereof or supplement thereto with the SEC) or the omission or alleged omission
        to state therein any material fact necessary to make the statements made
        therein, in light of the circumstances under which the statements therein
        were
        made, not misleading, or (iii)
        any
        violation or alleged violation by the Company of the 1933 Act, the 1934 Act,
        any
        other law, including, without limitation, any state securities law, or any
        rule
        or regulation thereunder relating to the offer or sale of the Registrable
        Securities pursuant to the Registration Statement (the matters in the foregoing
        clauses (i) through (iii) being, collectively, “Violations”).
        Subject to the restrictions set forth in Section 6(c) the Company shall
        reimburse the Investor and each such controlling person, promptly as such
        expenses are incurred and are due and payable, for any reasonable legal fees
        or
        other reasonable expenses incurred by them in connection with investigating
        or
        defending any such Claim. Notwithstanding anything to the contrary contained
        herein, the indemnification agreement contained in this Section 6(a):
(i)
        shall
        not apply to a Claim arising out of or based upon a Violation which is due
        to
        the inclusion in the Registration Statement of the information furnished
        to the
        Company by any Indemnified Person expressly for use in connection with the
        preparation of the Registration Statement or any such amendment thereof or
        supplement thereto; (ii)
        shall
        not be available to the extent such Claim is based on (a)
        a
        failure of the Investor to deliver or to cause to be delivered the prospectus
        made available by the Company or (b)
        the
        Indemnified Person’s use of an incorrect prospectus despite being promptly
        advised in advance by the Company in writing not to use such incorrect
        prospectus; (iii)
        any
        claims based on the manner of sale of the Registrable Securities by the Investor
        or of the Investor’s failure to register as a dealer under applicable securities
        laws; (iv)
        any
        omission of the Investor to notify the Company of any material fact that
        should
        be stated in the Registration Statement or prospectus relating to the Investor
        or the manner of sale; and (v)
        any
        amounts paid in settlement of any Claim if such settlement is effected without
        the prior written consent of the Company, which consent shall not be
        unreasonably withheld. Such indemnity shall remain in full force and effect
        regardless of any investigation made by or on behalf of the Indemnified Person
        and shall survive the resale of the Registrable Securities by the Investor
        pursuant to the Registration Statement.

      

      (b)
        In
        connection with any Registration Statement in which Investor is participating,
        the Investor agrees to severally and jointly indemnify, hold harmless and
        defend, to the same extent and in the same manner as is set forth in Section
        6(a), the Company, each of its directors, each of its officers who signs
        the
        Registration Statement, each Person, if any, who controls the Company within
        the
        meaning of the 1933 Act or the 1934 Act and the Company’s agents (collectively
        and together with an Indemnified Person, an “Indemnified
        Party”),
        against any Claim or Indemnified Damages to which any of them may become
        subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim
        or
        Indemnified Damages arise out of or are based upon any Violation, in each
        case
        to the extent, and only to the extent, that such Violation is due to the
        inclusion in the Registration Statement of the written information furnished
        to
        the Company by the Investor expressly for use in connection with such
        Registration Statement; and, subject to Section 6(c), the Investor will
        reimburse any legal or other expenses 

      
        
          ACGI..EQUITY.LINE.REGISTRATION.RIGHTS.MARCH.2006

          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      reasonably
        incurred by them in connection with investigating or defending any such Claim;
        provided,
        however,
        that
        the indemnity agreement contained in this Section 6(b) and the agreement
        with
        respect to contribution contained in Section 7 shall not apply to amounts
        paid
        in settlement of any Claim if such settlement is effected without the prior
        written consent of the Investor, which consent shall not be unreasonably
        withheld; provided, further, however, that the Investor shall only be liable
        under this Section 6(b) for that amount of a Claim or Indemnified Damages
        as
        does not exceed the net proceeds to such Investor as a result of the sale
        of
        Registrable Securities pursuant to such Registration Statement. Such indemnity
        shall remain in full force and effect regardless of any investigation made
        by or
        on behalf of such Indemnified Party and shall survive the resale of the
        Registrable Securities by the Investor pursuant to the Registration Statement.
        Notwithstanding anything to the contrary contained herein, the indemnification
        agreement contained in this Section 6(b) with respect to any preliminary
        prospectus shall not inure to the benefit of any Indemnified Party if the
        untrue
        statement or omission of material fact contained in the preliminary prospectus
        were corrected on a timely basis in the prospectus, as then amended or
        supplemented. This indemnification provision shall apply separately to each
        Investor and liability hereunder shall not be joint and several.

      

      (c)
        Promptly
        after receipt by an Indemnified Person or Indemnified Party under this Section
        6
        of notice of the commencement of any action or proceeding (including any
        governmental action or proceeding) involving a Claim, such Indemnified Person
        or
        Indemnified Party shall, if a Claim in respect thereof is to be made against
        any
        indemnifying party under this Section 6, deliver to the indemnifying party
        a
        written notice of the commencement thereof, and the indemnifying party shall
        have the right to participate in, and, to the extent the indemnifying party
        so
        desires, jointly with any other indemnifying party similarly noticed, to
        assume
        control of the defense thereof with counsel mutually satisfactory to the
        indemnifying party and the Indemnified Person or the Indemnified Party, as
        the
        case may be; provided, however, that an Indemnified Person or Indemnified
        Party
        shall have the right to retain its own counsel with the fees and expenses
        to be
        paid by the indemnifying party, if, in the reasonable opinion of counsel
        retained by the Indemnified Person or Indemnified Party, the representation
        by
        counsel of the Indemnified Person or Indemnified Party and the indemnifying
        party would be inappropriate due to actual or potential differing interests
        between such Indemnified Person or Indemnified Party and any other party
        represented by such counsel in such proceeding. The indemnifying party shall
        pay
        for only one (1) separate legal counsel for the Indemnified Persons or the
        Indemnified Parties, as applicable, and such counsel shall be selected by
        the
        Investor, if the Investor are entitled to indemnification hereunder, or the
        Company, if the Company is entitled to indemnification hereunder, as applicable.
        The Indemnified Party or Indemnified Person shall cooperate fully with the
        indemnifying party in connection with any negotiation or defense of any such
        action or Claim by the indemnifying party and shall furnish to the indemnifying
        party all information reasonably available to the Indemnified Party or
        Indemnified Person which relates to such action or Claim. The indemnifying
        party
        shall keep the Indemnified Party or Indemnified Person fully apprised at
        all
        times as to the status of the defense or any settlement negotiations with
        respect thereto. No indemnifying party shall be liable for any settlement
        of any
        action, claim or proceeding effected without its written consent, provided,
        however, that the indemnifying party shall not unreasonably withhold, delay
        or
        condition its consent. No indemnifying party shall, without the consent of
        the
        Indemnified Party or Indemnified Person, consent to entry of any judgment
        or
        enter into any settlement or other compromise which does not include as an
        unconditional term thereof the giving by the claimant or plaintiff to such
        Indemnified Party or Indemnified Person of a release from all liability in
        respect to such Claim. Following indemnification as provided for hereunder,
        the
        indemnifying party shall be subrogated to all rights of the Indemnified Party
        or
        Indemnified Person with respect to all third parties, firms or corporations
        relating to the matter for which indemnification has been made. The failure
        to
        deliver written notice to the indemnifying party within a reasonable time
        of the
        commencement of any such action shall not relieve such indemnifying party
        of any
        liability to the Indemnified Person or Indemnified Party under this Section
        6,
        except to the extent that the indemnifying party is prejudiced in its ability
        to
        defend such action.

      

      (d)
        The
        indemnity agreements contained herein shall be in addition to (i)
        any
        cause of action or similar right of the Indemnified Party or Indemnified
        Person
        against the indemnifying party or others, and (ii)
        any
        liabilities the indemnifying party may be subject to pursuant to the
        law.

      

       

      
        
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          7

          
            

          

        

        
          
          

        

      

      

      

      Section
        7. CONTRIBUTION.

      

      To
        the
        extent any indemnification by an indemnifying party is prohibited or limited
        by
        law, the indemnifying party agrees to make the maximum contribution with
        respect
        to any amounts for which it would otherwise be liable under Section 6 to
        the
        fullest extent permitted by law; provided,
        however,
        that:
(i)
        no
        contribution shall be made under circumstances where the maker would not
        have
        been liable for indemnification under the fault standards set forth in Section
        6; (ii)
        no
        seller of Registrable Securities guilty of fraudulent misrepresentation (within
        the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution
        from any seller of Registrable Securities who was not guilty of fraudulent
        misrepresentation; and (iii)
        contribution
        by any seller of Registrable Securities shall be limited in amount to the
        net
        amount of proceeds received by such seller from the sale of such Registrable
        Securities.

      

      Section
        8. REPORTS
        UNDER THE 1934 ACT.

      

      With
        a
        view to making available to the Investor the benefits of Rule 144 promulgated
        under the 1933 Act or any other similar rule or regulation of the SEC that
        may
        at any time permit the Investor to sell securities of the Company to the
        public
        without registration (“Rule
        144”),
        provided that the Investor holds any Registrable Securities are eligible
        for
        resale under Rule 144 (k), the Company agrees to:

      

      (a) make
        and
        keep public information available, as those terms are understood and defined
        in
        Rule 144;

      

      (b) file
        with
        the SEC in a timely manner all reports and other documents required of the
        Company under the 1933 Act and the 1934 Act so long as the Company remains
        subject to such requirements (it being understood that nothing herein shall
        limit the Company’s obligations under Section 5(c) of the Investment Agreement)
        and the filing of such reports and other documents is required for the
        applicable provisions of Rule 144; and

      

      (c) furnish
        to the Investor, promptly upon request, (i)
        a
        written statement by the Company that it has complied with the reporting
        requirements of Rule 144, the 1933 Act and the 1934 Act, (ii)
        a copy
        of the most recent annual or quarterly report of the Company and such other
        reports and documents so filed by the Company, and (iii)
        such
        other information as may be reasonably requested to permit the Investor to
        sell
        such securities pursuant to Rule 144 without registration.

      

      Section
        9. NO
        ASSIGNMENT OF REGISTRATION RIGHTS.

      

      The
        rights and obligations under this Agreement shall not be
        assignable.

       

      

      Section
        10. AMENDMENT
        OF REGISTRATION RIGHTS.

      

      The
        provisions of this Agreement may be amended only with the written consent
        of the
        Company and Investor. 

      

      Section
        11. MISCELLANEOUS.

      

      (a)
        Any
        notices or other communications required or permitted to be given under the
        terms of this Agreement that must be in writing will be deemed to have been
        delivered (i)
        upon
        receipt, when delivered personally; (ii)
        upon
        receipt, when sent by facsimile (provided a confirmation of transmission
        is
        mechanically or electronically generated and kept on file by the sending
        party);
        or (iii)
        one (1)
        day after deposit with a nationally recognized overnight delivery service,
        in
        each case properly addressed to the party to receive the same. The addresses
        and
        facsimile numbers for such communications shall be:

      
        
          ACGI..EQUITY.LINE.REGISTRATION.RIGHTS.MARCH.2006

          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

      

      

      

      

      

      

      

      

      If
        to the
        Company:

      

      Amacore
        Group, Inc.

      1511
        N.
        Westshore Blvd., Suite 925

      Tampa,
        FL
        33607

      Telephone:
        (813) 289-5552

      Facsimile:
        (813) 289-5553

      

      

      

      If
        to the
        Investor:

      

      Dutchess
        Private Equities Fund, LP

      50
        Commonwealth Ave, Suite 2

      Boston,
        MA 02116

      Telephone:
         617-301-4700

      Facsimile:
         617-249-0947

      

      Each
        party shall provide five (5) business days prior notice to the other party
        of
        any change in address, phone number or facsimile number.

      

      (b)
        Failure
        of any party to exercise any right or remedy under this Agreement or otherwise,
        or delay by a party in exercising such right or remedy, shall not operate
        as a
        waiver thereof.

      

      (c)
        This
        Agreement and the Transaction Documents constitute the entire agreement among
        the parties hereto with respect to the subject matter hereof and thereof.
        There
        are no restrictions, promises, warranties or undertakings, other than those
        set
        forth or referred to herein and therein.

      

      (d)
        This
        Agreement and the Transaction Documents supersede all prior agreements and
        understandings among the parties hereto with respect to the subject matter
        hereof and thereof.

      

      (e)
        The
        headings in this Agreement are for convenience of reference only and shall
        not
        limit or otherwise affect the meaning hereof. Whenever required by the context
        of this Agreement, the singular shall include the plural and masculine shall
        include the feminine. This Agreement shall not be construed as if it had
        been
        prepared by one of the parties, but rather as if all the parties had prepared
        the same.

      

      (f)
        This
        Agreement may be executed in two or more identical counterparts, each of
        which
        shall be deemed an original but all of which shall constitute one and the
        same
        agreement. This Agreement, once executed by a party, may be delivered to
        the
        other party hereto by facsimile transmission of a copy of this Agreement
        bearing
        the signature of the party so delivering this Agreement.

      

      (g)
        Each
        party shall do and perform, or cause to be done and performed, all such further
        acts and things, and shall execute and deliver all such other agreements,
        certificates, instruments and documents, as the other party may reasonably
        request in order to carry out the intent and accomplish the purposes of this
        Agreement and the consummation of the transactions contemplated
        hereby.

      
        
          ACGI..EQUITY.LINE.REGISTRATION.RIGHTS.MARCH.2006

          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

      (h)
        In case
        any provision of this Agreement is held by a court of competent jurisdiction
        to
        be excessive in scope or otherwise invalid or unenforceable, such provision
        shall be adjusted rather than voided, if possible, so that it is enforceable
        to
        the maximum extent possible, and the validity and enforceability of the
        remaining provisions of this Agreement will not in any way be affected or
        impaired thereby.

      

      (i)
        Notwithstanding any other provision of this Agreement, the Company shall
        not be
        deemed to be in default of any of its obligations set forth herein provided
        and
        unless (i) the Investor provides the Company with written notice of a perceived
        default and the Company (ii) fails to cure the default within fifteen (15)
        days
        after receipt of written notice thereof, or, if the default cannot be cured
        within fifteen (15) days, commences curative steps within said fifteen (15)
        day
        period and diligently pursues such curative steps to conclusion.

      

      Section
        12. DISPUTES
        SUBJECT TO ARBITRATION GOVERNED BY MASSACHUSETTS LAW

      

      All
        disputes arising under this agreement shall be governed by and interpreted
        in
        accordance with the laws of the Commonwealth of Massachusetts, without regard
        to
        principles of conflict of laws. The parties to this agreement will submit
        all
        disputes arising under this agreement to arbitration in Boston, Massachusetts
        before a single arbitrator of the American Arbitration Association (“AAA”). The
        arbitrator shall be selected by application of the rules of the AAA, or by
        mutual agreement of the parties, except that such arbitrator shall be an
        attorney admitted to practice law in the Commonwealth of Massachusetts. No
        party
        to this agreement will challenge the jurisdiction or venue provisions as
        provided in this section. Nothing
        contained herein shall prevent the party from obtaining an
        injunction.

      

      

      
        
          ACGI..EQUITY.LINE.REGISTRATION.RIGHTS.MARCH.2006

          
          

        

        
          10<PAGE>

THIS WARRANT HAS BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), OR APPLICABLE STATE SECURITIES
LAWS. THIS WARRANT AND THE WARRANT SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT
MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH
REGISTRATION OR PURSUANT TO AN EXEMPTION THEREFROM UNDER THE ACT THIS WARRANT
AND THE COMPANY'S SUBSCRIPTION AGREEMENT WITH THE HOLDER SET FORTH THE COMPANY'S
OBLIGATIONS TO REGISTER FOR RESALE THE WARRANT SHARES. A COPY OF SUCH
SUBSCRIPTION AGREEMENT IS AVAILABLE FOR INSPECTION AT THE COMPANY'S OFFICE.

THIS WARRANT MAY NOT, IN ANY EVENT, BE TRANSFERRED TO ANY PERSON OR ENTITY THAT
IS NOT AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501, PROMULGATED UNDER
THE ACT.

#__________                                                  __________ Warrants

              Void after 5:00 p.m., New York time on July 30, 2008

                                  COMMON STOCK
                                PURCHASE WARRANT

                                       OF

                               REIT AMERICAS, INC.

        REIT AMERICAS, INC., a Maryland corporation (the "Company"), hereby
certifies that, for value received, __________ (the "Warrant Holder") is the
owner of the number of common stock purchase warrants ("Warrants") specified
above, each of which entitles the holder thereof to purchase, at any time during
the period commencing on the Commencement Date (as defined herein) and ending on
the Expiration Date (as defined herein), one fully paid and non-assessable share
of common stock, par value $.001 per share ("Common Stock"), of the Company at a
purchase price equal to the Exercise Price of $.10 per share in lawful money of
the United States of America in cash, subject to adjustment as hereinafter
provided.

        1.      WARRANT; EXERCISE PRICE.

                1.1     Each Warrant shall entitle the Warrant Holder the right
to purchase one share of Common Stock of the Company (individually, a "Warrant
Share" severally, the "Warrant Shares").

<PAGE>

                1.2     The purchase price payable upon exercise of each Warrant
("Exercise Price") shall be $.10. The Exercise Price and number of Warrant
Shares purchasable pursuant to each Warrant are subject to adjustment as
provided in Section 8.

        2.      EXERCISE OF WARRANT; EXPIRATION DATE.

                2.1     This Warrant is exercisable during the period commencing
on the date of execution of this Warrant ("Commencement Date") and ending at
5:00 p.m., New York time on July 30, 2008, or if such date shall in the State of
New York be a holiday or a day on which banks are authorized to close, then 5:00
p.m., New York time the next following day which in the State of New York is not
a holiday or a day on which banks are authorized to close (the "Expiration
Date"), in whole or from time to time in part, at the option of the Warrant
Holder, upon surrender of this Warrant to the Company together with a duly
completed Notice of Exercise in the form attached hereto and payment of an
amount equal to the then applicable Exercise Price multiplied by the number of
Warrant Shares then being purchased upon such exercise.

                2.2     Each exercise of this Warrant shall be deemed to have
been effected immediately prior to the close of business on the day on which
this Warrant shall have been surrendered to the Company as provided in Section
2.1. At such time, the person or persons in whose name or names any certificates
for Warrant Shares shall be issuable upon such exercise as provided in
subsection 2.3 below shall be deemed to have become the holder or holders of
record of the Warrant Shares represented by such certificates.

                2.3     Within three business days after the exercise of the
purchase right represented by this Warrant, the Company at its expense will use
its best efforts to cause to be issued in the name of, and delivered to, the
Warrant Holder, or, subject to the terms and conditions hereof, to such other
individual or entity as such Warrant Holder (upon payment by such Warrant Holder
of any applicable transfer taxes) may direct:

                        (a)     a certificate or certificates for the number of
full Warrant Shares to which such Warrant Holder shall be entitled upon such
exercise plus, in lieu of any fractional share to which such Warrant Holder
would otherwise be entitled, cash in an amount determined pursuant to Section
2.4 hereof, and

                        (b)     in case such exercise is in part only, a new
Warrant or Warrants (dated the date hereof) of like tenor, stating on the face
or faces thereof the number of shares currently stated on the face of this
Warrant minus the number of such shares purchased by the Warrant Holder upon
such exercise as provided in subsection 2.1 ( in each case prior to any
adjustments made thereto pursuant to the provisions of this Warrant).

                2.4     The Company shall not be required upon the exercise of
this Warrant to issue any fractional shares, but shall make an adjustment
thereof in cash on the basis of the "last sale price" (as defined below) of the
Company's Common Stock on the trading day immediately prior to the date of
exercise. For purposes of this Section 2.4, "last sale price" shall mean (i) if
the Common Stock is listed on a national securities exchange or quoted on the
Nasdaq National

                                       2
<PAGE>

Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as
the Bulletin Board Exchange), the last sale price of the Common Stock in the
principal trading market for the Common Stock as reported by the exchange,
Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed
on a national securities exchange or quoted on the Nasdaq National Market,
Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the
Bulletin Board Exchange), but is traded in the residual over-the-counter market,
the closing bid price for the Common Stock on the last trading day preceding the
date in question for which such quotations are reported by the Pink Sheets, LLC
or similar publisher of such quotations; and (iii) if the fair market value of
the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such
price as the Board of Directors of the Company shall determine, in good faith.

        3.      REGISTRATION AND TRANSFER ON COMPANY BOOKS.

                3.1     The Company (or an agent of the Company) will maintain a
register containing the names and addresses of the Warrant Holders. Any Warrant
Holder may change its, his or her address as shown on the warrant register by
written notice to the Company requesting such change.

                3.2     The Company shall register upon its books any transfer
of a Warrant upon surrender of same as provided in Section 5.

        4.      RESERVATION OF SHARES. The Company will at all times reserve and
keep available, solely for issuance and delivery upon the exercise of this
Warrant, such Warrant Shares and other stock, securities and property, as from
time to time shall be issuable upon the exercise of this Warrant. As long as the
Warrant shall be outstanding, the Company shall use its best efforts to cause
all Warrant Shares issuable upon exercise of the Warrants to be listed (subject
to official notice of issuance) on each securities exchange (or, if applicable
on Nasdaq or the OTC Bulletin Board or any successor trading market) on which
the Common Stock is then listed and/or quoted. THE WARRANT HOLDER ACKNOWLEDGES
THAT THE COMMON STOCK IS NOT CURRENTLY LISTED OR QUOTED ON THE OTC BULLETIN
BOARD, NASDAQ OR ANY OTHER EXCHANGE AND THAT THE COMPANY WILL USE ITS REASONABLE
EFFORTS TO BECOME SO LISTED AFTER THE DATE HEREOF. THE COMPANY MAKES NO
ASSURANCE THAT IT WILL BECOME LISTED OR QUOTED ON ANY EXCHANGE.

        5.      EXCHANGE, TRANSFER, ASSIGNMENT OR LOSS OR MUTILATION OF
WARRANTS. This Warrant is exchangeable, without expense, at the option of the
Warrant Holder, upon presentation and surrender hereof to the Company for other
warrants of different denominations entitling the holder thereof to purchase in
the aggregate the same number of shares of Common Stock purchasable hereunder.
Subject to the terms of Section 6, upon surrender of this Warrant to the Company
at its principal office or at the office of its transfer agent, if any, with the
Assignment Form annexed hereto duly executed and funds sufficient to pay any
transfer tax, the Company shall, without charge, execute and deliver a new
Warrant in the name of the assignee named in such instrument of assignment and
this Warrant shall be promptly canceled. This Warrant may be divided or combined
with other warrants which carry the same rights upon presentation hereof at the
principal office of the Company together with a

                                       3
<PAGE>

written notice specifying the names and denominations in which new Warrants are
to be issued and signed by the Warrant Holder hereof. The term "Warrant" as used
herein includes any Warrants into which this Warrant may be divided or
exchanged. Upon receipt by the Company of reasonable evidence of the ownership
of and the loss, theft, destruction or mutilation of this Warrant and, in the
case of loss, theft or destruction, of indemnity reasonably satisfactory to the
Company, or, in the case of mutilation, upon surrender and cancellation of the
mutilated Warrant, the Company shall execute and deliver in lieu thereof a new
Warrant of like tenor and date representing an equal number of Warrants.

        6.      LIMITATION ON EXERCISE AND SALES.

                        (a)     Each holder of this Warrant acknowledges that
this Warrant and the Warrant Shares have not been registered under the
Securities Act, as of the date of issuance hereof. This Warrant only may be
transferred to a transferee who certifies in writing to the Warrant Holder and
to the Company that such transferee is an "accredited investor" within the
meaning of Rule 501(a) promulgated by the Commission under the Securities Act.

                                The Company shall be under no obligation to
issue the shares covered by such exercise unless and until the Warrant Holder
shall have executed the form of exercise annexed hereto that states that at the
time of such exercise that it is then an "accredited investor" within the
meaning of Rule 501(c) promulgated by the Commission under the Securities Act,
is acquiring such shares for its own account, and will not transfer the Warrant
Shares unless pursuant to an effective and current registration statement under
the Securities Act or an exemption from the registration requirements of the
Securities Act and any other applicable restrictions, in which event the Warrant
Holder shall be bound by the provisions of a legend or legends to such effect
that shall be endorsed upon the certificate(s) representing the Warrant Shares
issued pursuant to such exercise. In such event, the Warrant Shares issued upon
exercise hereof shall be imprinted with a legend in substantially the following
form:

        "This security has been acquired for investment and has not been
        registered under the Securities Act of 1933, as amended, or
        applicable state securities laws. This security may not be sold,
        pledged or otherwise transferred in the absence of such
        registration or pursuant to an exemption therefrom under said
        Act and such laws, supported by an opinion of counsel,
        reasonably satisfactory to the Company and its counsel, that
        such registration is not required."

                        (b)     Warrant Holder represents and warrants that it
is acquiring this Warrant for its own account, for purposes of investment, and
not with a view to, or for sale in connection with, any distribution thereof
within the meaning of the Securities Act and the rules and regulations
promulgated thereunder. Warrant Holder represents, warrants and agrees that it
will not sell, exercise, transfer or otherwise dispose of this Warrant (or any
interest therein) or any of the Common Stock purchasable upon exercise hereof,
except pursuant to (i) an effective registration statement under the Securities
Act and applicable state securities laws or (ii) an opinion of counsel,
satisfactory to Company, that an exemption from registration under the
Securities Act and such laws is available. Warrant Holder further acknowledges
and agrees that Company is not required, legally or contractually, so to
register or qualify the Warrant or such

                                       4
<PAGE>

Common Stock or to take any action to make such an exemption available. Warrant
Holder understands that Company will be relying upon the truth and accuracy of
the representations and warranties contained in this Section 6 in issuing this
Warrant and such Common Stock without first registering the issuance thereof
under the Securities Act or qualifying or registering the issuance thereof under
any state securities laws that may be applicable.

                        (c)     Warrant Holder acknowledges that (i) there is
not now, and there will not be in the future, any public market for the Warrant,
(ii) although there currently is not a public trading market for the Common
Stock, there can be no assurance that any such market will be sustained, and
(iii) there can be no assurance that Warrant Holder will be able to liquidate
its investment in Company. Warrant Holder represents and warrants that it is
familiar with and understands the terms and conditions of Rule 144 promulgated
under the Securities Act.

                        (d)     Warrant Holder represents and warrants to
Company that (i) it has such knowledge and experience in financial and business
matters as is necessary to enable it to evaluate the merits and risks of any
investments in Company and is not utilizing any other person to be a purchaser
representative in connection with evaluation of such merits and risks; and (ii)
it has no need for liquidity in an investment in Company and is able to bear the
risk of that investment for an indefinite period and to afford a complete loss
thereof.

                        (e)     Warrant Holder represents and warrants that it
has had access to, and has been furnished with, all of the information it has
requested from Company and has had an opportunity to review the books and
records of Company and to discuss with management and members of the board of
directors of Company the business and financial affairs of Company.

                        (f)     Warrant Holder agrees that at the time of each
exercise of this Warrant, unless the issuance of shares of Common Stock issuable
thereupon is pursuant to an effective registration statement under the
Securities Act, Warrant Holder will provide Company with a letter embodying the
representations and warranties set forth in subsections (b) through (e), in form
and substance satisfactory to Company, and agrees that the certificate(s)
representing any shares issued to it upon any exercise of this Warrant may bear
such restrictive legend as Company may deem necessary to reflect the restricted
status of such shares under the Securities Act unless Company shall have
received from Warrant Holder an opinion of counsel to Warrant Holder, reasonably
satisfactory in form and substance to Company, that such restrictive legend is
not required. If such legend is placed on such certificate(s), before consenting
to the removal of such legend and the transfer of such shares, unless the
request to remove such legend is made in connection with a sale or transfer of
the shares represented by such certificate in a transaction registered under
Section 5 of the Securities Act, Company may insist upon the delivery to it of
an opinion from counsel to Warrant Holder, reasonably satisfactory in form and
substance to Company, that the contemplated transfer does not constitute a
violation of the Securities Act.

        7.      REGISTRATION RIGHTS OF WARRANT HOLDER. The Company has granted
the Warrant Holder certain piggyback registration rights pursuant to the terms
of a Registration Rights Agreement dated __________, 2005 (the "Registration
Rights Agreement"). The registration rights shall inure to the benefit of the
transferees of this Warrant and the Warrant Shares. THE WARRANT HOLDER
ACKNOWLEDGES THAT THE COMPANY IS NOT CURRENTLY LISTED OR

                                       5
<PAGE>

QUOTED ON ANY EXCHANGE MARKET AND THAT THE PIGGYBACK REGISTRATION RIGHTS GRANTED
HEREUNDER WILL HAVE NO EFFECT UNLESS AND UNTIL SUCH TIME AS THE COMPANY BECOMES
LISTED OR QUOTED ON A TRADING EXCHANGE.

        8.      ADJUSTMENT OF PURCHASE PRICE AND NUMBER OF SHARES DELIVERABLE.
The Exercise Price and the number of Warrant Shares purchasable pursuant to each
Warrant shall be subject to adjustment from time to time as hereinafter set
forth in this Section 8:

                        (a)     In case, prior to the expiration of this Warrant
by exercise or by its terms, the Company shall issue any shares of its Common
Stock as a stock dividend or subdivide the number of outstanding shares of its
Common Stock into a greater number of shares, then in either of such cases, the
then applicable Exercise Price per Warrant Share purchasable pursuant to this
Warrant in effect at the time of such action shall be proportionately reduced
and the number of Warrant Shares at that time purchasable pursuant to this
Warrant shall be proportionately increased; and conversely, in the event the
Company shall reduce the number of outstanding shares of Common Stock by
combining such shares into a smaller number of shares, then, in such case, the
then applicable Exercise Price per Warrant Share purchasable pursuant to this
Warrant in effect at the time of such action shall be proportionately increased
and the number of Warrant Shares at that time purchasable pursuant to this
Warrant shall be proportionately decreased. If the Company shall, at any time
during the life of this Warrant, declare a dividend payable in cash on its
Common Stock and shall at substantially the same time offer to its stockholders
a right to purchase new Common Stock from the proceeds of such dividend or for
an amount substantially equal to the dividend, all Common Stock so issued shall,
for the purpose of this Warrant, be deemed to have been issued as a stock
dividend. Any dividend paid or distributed upon the Common Stock in stock of any
other class of securities convertible into shares of Common Stock shall be
treated as a dividend paid in Common Stock to the extent that shares of Common
Stock are issuable upon conversion thereof.

                        (b)     In case, prior to the expiration of this Warrant
by exercise or by its terms, the Company shall be recapitalized by reclassifying
its outstanding Common Stock, (other than a change in par value to no par
value), or the corporation or a successor corporation shall consolidate or merge
with or convey all or substantially all of its or of any successor corporation's
property and assets to any other corporation or corporations (any such other
corporations being included within the meaning of the term "successor
corporation" hereinbefore used in the event of any consolidation or merger of
any such other corporation with, or the sale of all or substantially all of the
property of any such other corporation to, another corporation or corporations),
then, as a condition of such recapitalization, consolidation, merger or
conveyance, lawful and adequate provision shall be made whereby the holder of
this Warrant shall thereafter have the right to purchase, upon the basis and on
the terms and conditions specified in this Warrant, in lieu of the Warrant
Shares theretofore purchasable upon the exercise of this Warrant, such shares of
stock, securities or assets as may be issued or payable with respect to, or in
exchange for, the number of Warrant Shares theretofore purchasable upon the
exercise of this Warrant, had such recapitalization, consolidation, merger, or
conveyance not taken place; and in any such event, the rights of the Warrant
Holder to any adjustment in the number of Warrant

                                       6
<PAGE>

Shares purchasable upon the exercise of this Warrant, as herein provided, shall
continue and be preserved in respect of any stock which the Warrant Holder
becomes entitled to purchase.

                        (c)     In case the Company at any time while this
Warrant shall remain unexpired and unexercised shall sell all or substantially
all of its property or dissolve, liquidate, or wind up its affairs, lawful
provision shall be made as part of the terms of any such sale, dissolution,
liquidation or winding up, so that the holder of this Warrant may thereafter
receive upon exercise hereof in lieu of each Warrant Share that it would have
been entitled to receive, the same kind and amount of any securities or assets
as may be issuable, distributable or payable upon any such sale, dissolution,
liquidation or winding up with respect to each share of Common Stock of the
Company, provided, however, that in any case of any such sale or of dissolution,
liquidation or winding up, the right to exercise this Warrant shall terminate on
a date fixed by the Company; such date so fixed to be not earlier than 5:00
p.m., New York time, on the forty-fifth day next succeeding the date on which
notice of such termination of the right to exercise this Warrant has been given
by mail to the registered holder of this Warrant at its address as it appears on
the books of the Company.

                        (d)     No adjustment in the per share Exercise Price
shall be required unless such adjustment would require an increase or decrease
in the Exercise Price by at least $0.01; provided, however, that any adjustments
that by reason of this subsection are not required to be made shall be carried
forward and taken into account in any subsequent adjustment. All calculations
under this Section 8 shall be made to the nearest cent or to the nearest 1/100th
of a share, as the case may be.

                        (e)     The Company will not, by amendment of its
Certificate of Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms to be observed or performed hereunder by the Company but will at all
times in good faith assist in the carrying out of all the provisions of this
Section 8 and in the taking of all such actions as may be necessary or
appropriate in order to protect against impairment of the rights of the Warrant
Holder to adjustments in the Exercise Price.

                        (f)     Upon the happening of any event requiring an
adjustment of the Exercise Price hereunder, the Company shall give written
notice thereof to the Warrant Holder stating the adjusted Exercise Price and the
adjusted number of Warrant Shares resulting from such event and setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based.

        9.      VOLUNTARY ADJUSTMENT BY THE COMPANY. The Company may, at its
option, at any time during the term of the Warrants, reduce the then current
Exercise Price to any amount deemed appropriate by the Board of Directors of the
Company and/or extend the date of the expiration of the Warrants.

        10.     RIGHTS OF THE HOLDER. The Warrant Holder shall not, by virtue
hereof, be entitled to any rights of

                                       7
<PAGE>

a stockholder in the Company, either at law or equity, and the rights of the
Warrant Holder are limited to those expressed in this Warrant and are not
enforceable against the Company except to the extent set forth herein.

        11.     NOTICES OF RECORD DATE. In case:

                        (a)     the Company shall take a record of the holders
of its Common Stock (or other stock or securities at the time deliverable upon
the exercise of this Warrant) for the purpose of entitling or enabling them to
receive any dividend or other distribution, or to receive any right to subscribe
for or purchase any shares of any class or any other securities, or to receive
any other right, or

                        (b)     of any capital reorganization of the Company,
any reclassification of the capital stock of the Company, any consolidation or
merger of the Company with or into another corporation (other than a
consolidation or merger in which the Company is the surviving entity), or any
transfer of all or substantially all of the assets of the Company, or

                        (c)     of the voluntary or involuntary dissolution,
liquidation or winding-up of the Company,

then, and in each such case, the Company will mail or cause to be mailed to the
Warrant Holder a notice specifying, as the case may be, (i) the date on which a
record is to be taken for the purpose of such dividend, distribution or right,
and stating the amount and character of such dividend, distribution or right, or
(ii) the effective date on which such reorganization, reclassification,
consolidation, merger, transfer, dissolution, liquidation or winding-up is to
take place, and the time, if any is to be fixed, as of which the holders of
record of Common Stock (or such other stock or securities at the time
deliverable upon the exercise of this Warrant) shall be entitled to exchange
their shares of Common Stock (or such other stock or securities) for securities
or other property deliverable upon such reorganization, reclassification,
consolidation, merger, transfer, dissolution, liquidation or winding-up. Such
notice shall be mailed at least thirty days prior to the record date or
effective date for the event specified in such notice, provided that the failure
to mail such notice shall not affect the legality or validity of any such
action.

        12.     SUCCESSORS. The rights and obligations of the parties to this
Warrant will inure to the benefit of and be binding upon the parties hereto and
their respective heirs, successors, assigns, pledgees, transferees and
purchasers. Without limiting the foregoing, the registration rights referred to
in Section 7 of this Warrant shall inure to the benefit of the Warrant Holder
and all the Warrant Holder's successors, heirs, pledgees, assignees, transferees
and purchasers of this Warrant and the Warrant Shares.

        13.     CHANGE OR WAIVER. Any term of this Warrant may be changed or
waived only by an instrument in writing signed by the party against whom
enforcement of the change or waiver is sought.

        14.     HEADINGS. The headings in this Warrant are for purposes of
reference only and shall not limit or otherwise affect the meaning of any
provision of this Warrant.

                                       8
<PAGE>

        15.     GOVERNING LAW; VENUE. All questions concerning the construction,
validity, enforcement and interpretation of this Warrant shall be governed by
and construed and enforced in accordance with the internal laws of the State of
Florida, without regard to the principles of conflicts of law thereof. Each
party agrees that all proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Warrant (whether brought
against a party hereto or its respective affiliates, directors, officers,
shareholders, employees or agents) shall be commenced exclusively in the state
and federal courts sitting in Palm Beach County, Florida. Each party hereto
hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in Palm Beach County, Florida for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to
assert in any proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such proceeding is improper. Each party
hereto hereby irrevocably waives personal service of process and consents to
process being served in any such proceeding by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Warrant and
agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way
any right to serve process in any manner permitted by law. The parties hereto
hereby irrevocably waive, to the fullest extent permitted by applicable law, any
and all right to trial by jury in any legal proceeding arising out of or
relating to this Warrant or the transactions contemplated hereby. If any party
shall commence a proceeding to enforce any provisions of this Warrant, then the
prevailing party in such proceeding shall be reimbursed by the other party for
its reasonable attorneys fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such proceeding.

        16.     MAILING OF NOTICES, ETC. All notices and other communications
required or permitted hereunder shall be in writing and shall be deemed to have
been duly given one (1) business day after delivery to an overnight carrier with
instructions to deliver to the applicable address set forth below, or, if sent
by facsimile, upon receipt of a confirmation of delivery:

                Registered Holder:      To his or her last known address as
                                        indicated on the Company's books and
                                        records.

                The Company:            REIT Americas, Inc.
                                        Attn: James Sellers
                                        2960 N. Swan Road
                                        Suite 300
                                        Tucson, AZ 85712

                                       9
<PAGE>

        IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by
its duly authorized officer as of __________, 2005.

                                               REIT AMERICAS, INC.

                                               By:    ______________________
                                               Name:  ______________________
                                               Title: ______________________

                                       10
<PAGE>

                               NOTICE OF EXERCISE
                      To Be Executed by the Warrant Holder
                          In Order to Exercise Warrants

TO: REIT Americas, Inc.

        The undersigned hereby: (1) irrevocably subscribes for and offers to
purchase _______ shares of Common Stock of REIT Americas, Inc., pursuant to
Warrant No. ___ heretofore issued to ___________________ on ____________, ____ ;
(2) encloses a cash payment of $__________; and (3) requests that a certificate
for the shares be issued in the name of the undersigned, or the undersigned's
designee, and delivered to the undersigned, or the undersigned's designee, at
the address specified below.

        The undersigned hereby represents and warrants to the Company that it is
an "Accredited Investor" within the meaning of Rule 501(c) of the Securities Act
of 1933, as amended (the "Securities Act"), and is acquiring these securities
for its own account and not with a view to, or for sale in connection with, any
distribution thereof, nor with any present intention of distributing or selling
the same. The undersigned further represents that it does not have any contract,
agreement, understanding or arrangement with any person to sell, transfer or
grant the shares of Common Stock issuable under this Warrant. The undersigned
understands that the shares it will be receiving are "restricted securities"
under Federal securities laws inasmuch as they are being acquired from REIT
Americas, Inc., in transactions not including any public offering and that under
such laws, such shares may only be sold pursuant to an effective and current
registration statement under the Securities Act or an exemption from the
registration requirements of the Securities Act and any other applicable
restrictions, in which event a legend or legends will be placed upon the
certificate(s) representing the Common Stock issuable under this Warrant
denoting such restrictions. The undersigned understands and acknowledges that
the Company will rely on the accuracy of these representations and warranties in
issuing the securities underlying the Warrant

   Date:     ____________________________________________________________

   Investor Name: _______________________________________________________

   Taxpayer Identification Number:  _____________________________________

   By: __________________________________________________________________

   Printed Name:  _______________________________________________________

   Title:    ____________________________________________________________

   Address:  ____________________________________________________________

                Note: The above signature should correspond exactly with the
                name on the face of this Warrant Certificate or with the name of
                assignee appearing in assignment form below.

AND, if said number of shares shall not be all the shares purchasable under the
within Warrant, a new Warrant Certificate is to be issued in the name of said
undersigned for the balance remaining of the shares purchasable thereunder less
any fraction of a share paid in cash and delivered to the address stated above.

<PAGE>

                                 ASSIGNMENT FORM
                      To be executed by the Warrant Holder
                           In order to Assign Warrants

FOR VALUE RECEIVED,____________________________________ hereby sell, assigns and
transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER

________________________

________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
                     (Please print or type name and address)

______________________ of the Warrants represented by this Warrant, and hereby
irrevocably constitutes and appoints ________________________ Attorney to
transfer this Warrant on the books of the Company, with full power of
substitution in the premises.

Dated:___________________              _________________________________________
                                       (Signature of Registered Holder)

THE SIGNATURE ON THE EXERCISE FORM OR THE ASSIGNMENT FORM MUST CORRESPOND TO THE
NAME AS WRITTEN UPON THE FACE OF THIS WARRANT IN EVERY PARTICULAR, WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER,.

                      CERTIFICATION OF STATUS OF TRANSFEREE
                TO BE EXECUTED BY THE TRANSFEREE OF THIS WARRANT

The undersigned transferee hereby certifies to the registered holder of this
Warrant and to REIT Americas, Inc. that the transferee is an "accredited
investor" within the meaning of Rule 501 of Regulation D promulgated under the
Securities Act of 1933, as amended.

Dated:___________________              _________________________________________
                                       (Signature of Transferee)

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