Document:

Exhibit 10.11

                             STOCK PLEDGE AGREEMENT
                             ----------------------

     This Stock Pledge Agreement (this "Agreement"), dated as of April 27, 2004,
among Laurus Master Fund, Ltd. (the "Pledgee"), Sequiam Corporation, a
California corporation (the "Company"), and each of the other undersigned
pledgors (the Company and each such other undersigned pledgor, a "Pledgor" and
                                                                  -------
collectively, the "Pledgors").
                   --------

BACKGROUND
----------

      The Company has entered into a Securities Purchase Agreement dated as of
April 27, 2004 (as amended, modified, restated or supplemented from time to
time, the "Purchase Agreement"), pursuant to which the Pledgee provides or will
provide certain financial accommodations to the Company.

     In  order  to  induce  the  Pledgee  to  provide or continue to provide the
financial  accommodations  described in the Purchase Agreement, each Pledgor has
agreed  to  pledge  and  grant  a  security interest in the collateral described
herein  to  the  Pledgee  on  the  terms  and  conditions  set  forth  herein.

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

     1.     Defined Terms.  All capitalized terms used herein which are not
            -------------
defined shall have the meanings given to them in the Purchase Agreement.

     2.     Pledge and Grant of Security Interest.  To secure the full and
            -------------------------------------
punctual payment and performance of (the following clauses (a) and (b), the
"Indebtedness") (a) the obligations under the Purchase Agreement and (b) all
other indebtedness, obligations and liabilities of each Pledgor to the Pledgee
whether now existing or hereafter arising, direct or indirect, liquidated or
unliquidated, absolute or contingent, due or not due and whether under, pursuant
to or evidenced by a note, agreement, guaranty, instrument or otherwise (in each
case, irrespective of the genuineness, validity, regularity or enforceability of
such Indebtedness, or of any instrument evidencing any of the Indebtedness or of
any collateral therefor or of the existence or extent of such collateral, and
irrespective of the allowability, allowance or disallowance of any or all of
such in any case commenced by or against any Pledgor under Title 11, United
States Code, including, without limitation, obligations or indebtedness of each
Pledgor for post-petition interest, fees, costs and charges that would have
accrued or been added to the Indebtedness but for the commencement of such
case), each Pledgor hereby pledges, assigns, hypothecates, transfers and grants
a security interest to Pledgee in all of the following (the "Collateral"):

          (a)     the shares of stock set forth on Schedule A annexed hereto and
                                                   ----------
expressly made a part hereof (together with any additional shares of stock or
other equity interests acquired by any Pledgor, the "Pledged Stock"), the
certificates representing the Pledged Stock and all

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<PAGE>
dividends, cash, instruments and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of or in exchange for
any or all of the Pledged Stock;

          (b)     all additional shares of stock of any issuer (each, an
"Issuer") of the Pledged Stock  from time to time acquired by any Pledgor in any
manner, including, without limitation, stock dividends or a distribution in
connection with any increase or reduction of capital, reclassification, merger,
consolidation, sale of assets, combination of shares, stock split, spin-off or
split-off (which shares shall be deemed to be part of the Collateral), and the
certificates representing such additional shares, and all dividends, cash,
instruments and other property or proceeds from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all
of such shares; and

          (c)     all options and rights, whether as an addition to, in
substitution of or in exchange for any shares of any Pledged Stock and all
dividends, cash, instruments and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of or in exchange for
any or all such options and rights.

     3.     Delivery of Collateral.  All certificates representing or evidencing
            ----------------------
the Pledged Stock shall be delivered to and held by or on behalf of Pledgee
pursuant hereto and shall be accompanied by duly executed instruments of
transfer or assignment in blank, all in form and substance satisfactory to
Pledgee.  Each Pledgor hereby authorizes the Issuer upon demand by the Pledgee
to deliver any certificates, instruments or other distributions issued in
connection with the Collateral directly to the Pledgee, in each case to be held
by the Pledgee, subject to the terms hereof.  Upon an Event of Default (as
defined below) under the Note that has occurred and is continuing beyond any
applicable grace period, the Pledgee shall have the right, during such time in
its discretion and without notice to the Pledgor, to transfer to or to register
in the name of the Pledgee or any of its nominees any or all of the Pledged
Stock.  In addition, the Pledgee shall have the right at such time to exchange
certificates or instruments representing or evidencing Pledged Stock for
certificates or instruments of smaller or larger denominations.

     4.     Representations and Warranties of each Pledgor.  Each Pledgor
            ----------------------------------------------
jointly and severally represents and warrants to the Pledgee (which
representations and warranties shall be deemed to continue to be made until all
of the Indebtedness has been paid in full and the Purchase Agreement and each
agreement and instrument entered into in connection therewith has been
irrevocably terminated) that:

          (a)     the execution, delivery and performance by each Pledgor of
this Agreement and the pledge of the Collateral hereunder do not and will not
result in any violation of any agreement, indenture, instrument, license,
judgment, decree, order, law, statute, ordinance or other governmental rule or
regulation applicable to any Pledgor;

          (b)     this Agreement constitutes the legal, valid, and binding
obligation of each Pledgor enforceable against each Pledgor in accordance with
its terms;

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<PAGE>
          (c)     (i) all Pledged Stock owned by each Pledgor is set forth on
Schedule A hereto and (ii) each Pledgor is the direct and beneficial owner of
each share of the Pledged Stock;

          (d)     all of the shares of the Pledged Stock have been duly
authorized, validly issued and are fully paid and nonassessable;

          (e)     no consent or approval of any person, corporation,
governmental body, regulatory authority or other entity, is or will be necessary
for (i) the execution, delivery and performance of this Agreement, (ii) the
exercise by the Pledgee of any rights with respect to the Collateral or (iii)
the pledge and assignment of, and the grant of a security interest in, the
Collateral hereunder;

          (f)     there are no pending or, to the best of Pledgor's knowledge,
threatened actions or proceedings before any court, judicial body,
administrative agency or arbitrator which may materially adversely affect the
Collateral;

          (g)     each Pledgor has the requisite power and authority to enter
into this Agreement and to pledge and assign the Collateral to the Pledgee in
accordance with the terms of this Agreement.

          (h)     each Pledgor owns each item of the Collateral and, except for
the pledge and security interest granted to Pledgee hereunder, the Collateral
shall be, immediately following the closing of the transactions contemplated by
the Purchase Agreement, free and clear of any other security interest, pledge,
claim, lien, charge, hypothecation, assignment, offset or encumbrance whatsoever
(collectively, "Liens").

          (i)     there are no restrictions on transfer of the Pledged Stock
contained in the certificate of incorporation or by-laws (or equivalent
organizational documents) of the Issuer or otherwise which have not otherwise
been enforceably and legally waived by the necessary parties.

          (j)     none of the Pledged Stock has been issued or transferred in
violation of the securities registration, securities disclosure or similar laws
of any jurisdiction to which such issuance or transfer may be subject.

          (k)     the pledge and assignment of the Collateral and the grant of a
security interest under this Agreement vest in the Pledgee all rights of each
Pledgor in the Collateral as contemplated by this Agreement.

          (l)     The Pledged Stock constitutes one hundred percent (100%) of
the issued and outstanding shares of capital stock of each Issuer.

     5.     Covenants.  Each Pledgor jointly and severally covenants that, until
            ---------
the Indebtedness shall be satisfied in full and the Purchase Agreement and each
agreement and

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<PAGE>
instrument entered into in connection therewith is irrevocably terminated (but
subject to Section 18(i)):

          (a)     No Pledgor will sell, assign, transfer, convey, or otherwise
dispose of its rights in or to the Collateral or any interest therein; nor will
any Pledgor create, incur or permit to exist any Lien whatsoever with respect to
any of the Collateral or the proceeds thereof other than that created hereby.

          (b)     Each Pledgor will, at its expense, defend Pledgee's right,
title and security interest in and to the Collateral against the claims of any
other party.

          (c)     Each Pledgor shall at any time, and from time to time, upon
the written request of Pledgee, execute and deliver such further documents and
do such further acts and things as Pledgee may reasonably request in order to
effect the purposes of this Agreement including, but without limitation,
delivering to Pledgee upon the occurrence of an Event of Default irrevocable
proxies in respect of the Collateral in form satisfactory to Pledgee. Until
receipt thereof, upon an Event of Default that has occurred and is continuing
beyond any applicable grace period, this Agreement shall constitute Pledgor's
proxy to Pledgee or its nominee to vote all shares of Collateral then registered
in each Pledgor's name.

          (d)     No Pledgor will consent to or approve the issuance of (i) any
additional shares of any class of capital stock or other equity interests of the
Issuer; or (ii) any securities convertible either voluntarily by the holder
thereof or automatically upon the occurrence or nonoccurrence of any event or
condition into, or any securities exchangeable for, any such shares, unless, in
either case, such shares are pledged as Collateral pursuant to this Agreement.

     6.     Voting Rights and Dividends.  In addition to the Pledgee's rights
            ---------------------------
and remedies set forth in Section 8 hereof, in case an Event of Default shall
have occurred and be continuing, beyond any applicable cure period, the Pledgee
shall (i) be entitled to vote the Collateral, (ii) be entitled to give consents,
waivers and ratifications in respect of the Collateral (each Pledgor hereby
irrevocably constituting and appointing the Pledgee, with full power of
substitution, the proxy and attorney-in-fact of each Pledgor for such purposes)
and (iii) be entitled to collect and receive for its own use cash dividends paid
on the Collateral.  No Pledgor shall be permitted to exercise or refrain from
exercising any voting rights or other powers if, in the reasonable judgment of
the Pledgee, such action would have a material adverse effect on the value of
the Collateral or any part thereof; and, provided, further, that each Pledgor
                                         --------  -------
shall give at least five (5) days' written notice of the manner in which such
Pledgor intends to exercise, or the reasons for refraining from exercising, any
voting rights or other powers other than with respect to any election of
directors and voting with respect to any incidental matters.  Following the
occurrence of an Event of Default, all dividends and all other distributions in
respect of any of the Collateral, shall be delivered to the Pledgee to hold as
Collateral and shall, if received by any Pledgor, be received in trust for the
benefit of the Pledgee, be segregated from the other property or funds of any
other Pledgor, and be forthwith delivered to the Pledgee as Collateral in the
same form as so received (with any necessary endorsement).

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<PAGE>
     7.     Event of Default.  An Event of Default shall be deemed to have
            ----------------
occurred and may be declared by the Pledgee upon the happening of any of the
following events:

          (a)     An "Event of Default" under the Purchase Agreement or any
agreement or note related to the Purchase Agreement shall have occurred and be
continuing beyond any applicable cure period;

          (b)     Any Pledgor shall default in the performance of any of its
obligations under any agreement between any Pledgor and Pledgee, including,
without limitation, this Agreement, and such default shall not be cured for a
period of thirty (30) business days after the occurrence thereof;

          (c)     Any representation or warranty of any Pledgor made herein,
in the Purchase Agreement or in any agreement, statement or certificate given in
writing pursuant hereto or thereto or in connection herewith or therewith shall
be false or misleading in any material respect and shall not be cured for a
period of thirty (30) business days after the occurrence thereof;

          (d)     Any portion of the Collateral is subjected to levy of
execution, attachment, distraint or other judicial process; or any portion of
the Collateral is the subject of a claim (other than by the Pledgee) of a Lien
or other right or interest in or to the Collateral and such levy or claim shall
not be cured, disputed or stayed within a period of thirty (30) business days
after the occurrence thereof; or

          (e)     Any Pledgor shall (i) apply for, consent to, or suffer to
exist the appointment of, or the taking of possession by, a receiver, custodian,
trustee, liquidator or other fiduciary of itself or of all or a substantial part
of its property, (ii) make a general assignment for the benefit of creditors,
(iii) commence a voluntary case under any state or federal bankruptcy laws (as
now or hereafter in effect), (iv) be adjudicated a bankrupt or insolvent, (v)
file a petition seeking to take advantage of any other law providing for the
relief of debtors, (vi) acquiesce to, or fail to have dismissed, within ninety
(60) days, any petition filed against it in any involuntary case under such
bankruptcy laws, or (vii) take any action for the purpose of effecting any of
the foregoing.

     8.     Remedies.  In case an Event of Default shall have occurred and be
            --------
declared by the Pledgee, the Pledgee may:

          (a)     Transfer any or all of the Collateral into its name, or into
the name of its nominee or nominees;

          (b)     Exercise all corporate rights with respect to the Collateral
including, without limitation, all rights of conversion, exchange, subscription
or any other rights, privileges or options pertaining to any shares of the
Collateral as if it were the absolute owner thereof, including, but without
limitation, the right to exchange, at its discretion, any or all of the
Collateral upon the merger, consolidation, reorganization, recapitalization or
other readjustment of the Issuer thereof, or upon the exercise by the Issuer of
any right, privilege or option

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<PAGE>
pertaining to any of the Collateral, and, in connection therewith, to deposit
and deliver any and all of the Collateral with any committee, depository,
transfer agent, registrar or other designated agent upon such terms and
conditions as it may determine, all without liability except to account for
property actually received by it; and

          (c)     Subject to any requirement of applicable law, sell, assign and
deliver the whole or, from time to time, any part of the Collateral at the time
held by the Pledgee, at any private sale or at public auction, with or without
demand, advertisement or notice of the time or place of sale or adjournment
thereof or otherwise (all of which are hereby waived, except such notice as is
required by applicable law and cannot be waived), for cash or credit or for
other property for immediate or future delivery, and for such price or prices
and on such terms as the Pledgee in its sole discretion may determine, or as may
be required by applicable law.

          Each Pledgor hereby waives and releases any and all right or equity of
redemption, whether before or after sale hereunder.  At any such sale, unless
prohibited by applicable law, the Pledgee may bid for and purchase the whole or
any part of the Collateral so sold free from any such right or equity of
redemption.  All moneys received by the Pledgee hereunder whether upon sale of
the Collateral or any part thereof or otherwise shall be held by the Pledgee and
applied by it as provided in Section 10 hereof.  No failure or delay on the part
of the Pledgee in exercising any rights hereunder shall operate as a waiver of
any such rights nor shall any single or partial exercise of any such rights
preclude any other or future exercise thereof or the exercise of any other
rights hereunder.  The Pledgee shall have no duty as to the collection or
protection of the Collateral or any income thereon nor any duty as to
preservation of any rights pertaining thereto, except to apply the funds in
accordance with the requirements of Section 10 hereof.  The Pledgee may exercise
its rights with respect to property held hereunder without resort to other
security for or sources of reimbursement for the Indebtedness.  In addition to
the foregoing, Pledgee shall have all of the rights, remedies and privileges of
a secured party under the Uniform Commercial Code of New York regardless of the
jurisdiction in which enforcement hereof is sought.

     9.     Private Sale.  Each Pledgor recognizes that the Pledgee may be
            ------------
unable to effect (or to do so only after delay which would adversely affect the
value that might be realized from the Collateral) a public sale of all or part
of the Collateral by reason of certain prohibitions contained in the Securities
Act, and may be compelled to resort to one or more private sales to a restricted
group of purchasers who will be obliged to agree, among other things, to acquire
such Collateral for their own account, for investment and not with a view to the
distribution or resale thereof.  Each Pledgor agrees that any such private sale
may be at prices and on terms less favorable to the seller than if sold at
public sales and that such private sales shall be deemed to have been made in a
commercially reasonable manner.  Each Pledgor agrees that the Pledgee has no
obligation to delay sale of any Collateral for the period of time necessary to
permit the Issuer to register the Collateral for public sale under the
Securities Act.

     10.     Proceeds of Sale.  The proceeds of any collection, recovery,
             ----------------
receipt, appropriation, realization or sale of the Collateral shall be applied
by the Pledgee as follows:

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<PAGE>
          (a)     First, to the payment of all costs, reasonable expenses and
charges of the Pledgee and to the reimbursement of the Pledgee for the prior
payment of such costs, reasonable expenses and charges incurred in connection
with the care and safekeeping of the Collateral (including, without limitation,
the reasonable expenses of any sale or any other disposition of any of the
Collateral), the expenses of any taking, attorneys' fees and reasonable
expenses, court costs, any other fees or expenses incurred or expenditures or
advances made by Pledgee in the protection, enforcement or exercise of its
rights, powers or remedies hereunder;

          (b)     Second, to the payment of the Indebtedness, in whole or in
part, in such order as the Pledgee may elect, whether or not such Indebtedness
is then due;

          (c)     Third, to such persons, firms, corporations or other entities
as required by applicable law including, without limitation, Section 9-504(1)(c)
of the UCC; and

          (d)     Fourth, to the extent of any surplus to the Pledgors or as a
court of competent jurisdiction may direct.

          In the event that the proceeds of any collection, recovery, receipt,
appropriation, realization or sale are insufficient to satisfy the Indebtedness,
each Pledgor shall be jointly and severally liable for the deficiency plus the
costs and fees of any attorneys employed by Pledgee to collect such deficiency.

     11.     Waiver of Marshaling.  Each Pledgor hereby waives any right to
             --------------------
compel any marshaling of any of the Collateral.

     12.     No Waiver.  Any and all of the Pledgee's rights with respect to the
             ---------
Liens granted under this Agreement shall continue unimpaired, and Pledgor shall
be and remain obligated in accordance with the terms hereof, notwithstanding (a)
the bankruptcy, insolvency or reorganization of any Pledgor, (b) the release or
substitution of any item of the Collateral at any time, or of any rights or
interests therein, or (c) any delay, extension of time, renewal, compromise or
other indulgence granted by the Pledgee in reference to any of the Indebtedness.
Each Pledgor hereby waives all notice of any such delay, extension, release,
substitution, renewal, compromise or other indulgence, and hereby consents to be
bound hereby as fully and effectively as if such Pledgor had expressly agreed
thereto in advance.  No delay or extension of time by the Pledgee in exercising
any power of sale, option or other right or remedy hereunder, and no failure by
the Pledgee to give notice or make demand, shall constitute a waiver thereof, or
limit, impair or prejudice the Pledgee's right to take any action against any
Pledgor or to exercise any other power of sale, option or any other right or
remedy.

     13.     Expenses.  The Collateral shall secure, and each Pledgor shall pay
             --------
to Pledgee on demand, from time to time, all reasonable costs and expenses,
(including but not limited to, reasonable attorneys' fees and costs, taxes, and
all transfer, recording, filing and other charges) of, or incidental to, the
custody, care, transfer, administration of the Collateral or any other
collateral, or in any way relating to the enforcement, protection or
preservation of the rights or remedies of the Pledgee under this Agreement or
with respect to any of the Indebtedness.

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<PAGE>
     14.     The Pledgee Appointed Attorney-In-Fact and Performance by the
                 ---------------------------------------------------------
Pledgee.  Upon the occurrence of an Event of Default, each Pledgor hereby
irrevocably constitutes and appoints the Pledgee as such Pledgor's true and
lawful attorney-in-fact, with full power of substitution, to execute,
acknowledge and deliver any instruments and to do in such Pledgor's name, place
and stead, all such acts, things and deeds for and on behalf of and in the name
of such Pledgor, which such Pledgor could or might do or which the Pledgee may
deem necessary, desirable or convenient to accomplish the purposes of this
Agreement, including, without limitation, to execute such instruments of
assignment or transfer or orders and to register, convey or otherwise transfer
title to the Collateral into the Pledgee's name.  Each Pledgor hereby ratifies
and confirms all that said attorney-in-fact may so do and hereby declares this
power of attorney to be coupled with an interest and irrevocable.  If any
Pledgor fails to perform any agreement herein contained, the Pledgee may itself
perform or cause performance thereof, and any costs and expenses of the Pledgee
incurred in connection therewith shall be paid by the Pledgors as provided in
Section 10 hereof.

     15.     Waivers.
             -------

          (a)     EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL
BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER THIS
AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED
IN CONNECTION HEREWITH, OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR
INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OTHER AGREEMENT EXECUTED
OR DELIVERED BY THEM IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO
OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER
SOUNDING IN CONTRACT OR TORT OR OTHERWISE AND EACH PARTY HERETO HEREBY AGREES
AND CONSENTS THAT ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED
BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF EACH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

     16.     Recapture.  Notwithstanding anything to the contrary in this
             ---------
Agreement, if the Pledgee receives any payment or payments on account of the
Indebtedness, which payment or payments or any part thereof are subsequently
invalidated, declared to be fraudulent or preferential, set aside and/or
required to be repaid to a trustee, receiver, or any other party under the
United States Bankruptcy Code, as amended, or any other federal or state
bankruptcy, reorganization, moratorium or insolvency law relating to or
affecting the enforcement of creditors' rights generally, common law or
equitable doctrine, then to the extent of any sum not finally retained by the
Pledgee, each Pledgor's obligations to the Pledgee shall be reinstated and this
Agreement shall remain in full force and effect (or be reinstated) until payment
shall have been made to Pledgee, which payment shall be due on demand.

     17.     Captions.  All captions in this Agreement are included herein for
             --------
convenience of reference only and shall not constitute part of this Agreement
for any other purpose.

                                        8
<PAGE>
     18.     Miscellaneous.
             -------------

          (a)     This Agreement constitutes the entire and final agreement
among the parties with respect to the subject matter hereof and may not be
changed, terminated or otherwise varied except by a writing duly executed by the
parties hereto.

          (b)     No waiver of any term or condition of this Agreement, whether
by delay, omission or otherwise, shall be effective unless in writing and signed
by the party sought to be charged, and then such waiver shall be effective only
in the specific instance and for the purpose for which given.

          (c)     In the event that any provision of this Agreement or the
application thereof to any Pledgor or any circumstance in any jurisdiction
governing this Agreement shall, to any extent, be invalid or unenforceable under
any applicable statute, regulation, or rule of law, such provision shall be
deemed inoperative to the extent that it may conflict therewith and shall be
deemed modified to conform to such statute, regulation or rule of law, and the
remainder of this Agreement and the application of any such invalid or
unenforceable provision to parties, jurisdictions, or circumstances other than
to whom or to which it is held invalid or unenforceable shall not be affected
thereby, nor shall same affect the validity or enforceability of any other
provision of this Agreement.

          (d)     This Agreement shall be binding upon each Pledgor, and each
Pledgor's successors and assigns, and shall inure to the benefit of the Pledgee
and its successors and assigns.

          (e)     Any notice or other communication required or permitted
pursuant to this Agreement shall be given in accordance with the Purchase
Agreement.

          (f)     This Agreement shall be governed by and construed and enforced
in all respects in accordance with the laws of the State of New York applied to
contracts to be performed wholly within the State of New York.

          (g)     EACH PLEDGOR EXPRESSLY CONSENTS TO THE JURISDICTION AND VENUE
OF EACH COURT OF COMPETENT JURISDICTION LOCATED IN THE STATE OF NEW YORK FOR ALL
PURPOSES IN CONNECTION WITH THIS AGREEMENT.  ANY JUDICIAL PROCEEDING INVOLVING,
DIRECTLY OR INDIRECTLY ANY MATTER OR CLAIM IN ANY WAY ARISING OUT OF, RELATED TO
OR CONNECTED WITH THIS AGREEMENT SHALL BE BROUGHT ONLY IN A STATE COURT LOCATED
IN THE COUNTY OF NEW YORK, STATE OF NEW YORK.  EACH PLEDGOR FURTHER CONSENTS
THAT ANY SUMMONS, SUBPOENA OR OTHER PROCESS OR PAPERS (INCLUDING, WITHOUT
LIMITATION, ANY NOTICE OR MOTION OR OTHER APPLICATION TO EITHER OF THE
AFOREMENTIONED COURTS OR A JUDGE THEREOF) OR ANY NOTICE IN CONNECTION WITH ANY
PROCEEDINGS HEREUNDER, MAY BE SERVED INSIDE OR OUTSIDE OF THE STATE OF NEW YORK
OR THE SOUTHERN DISTRICT OF NEW YORK BY REGISTERED OR

                                        9
<PAGE>
CERTIFIED MAIL, RETURN RECEIPT REQUESTED, OR BY PERSONAL SERVICE PROVIDED A
REASONABLE TIME FOR APPEARANCE IS PERMITTED, OR IN SUCH OTHER MANNER AS MAY BE
PERMISSIBLE UNDER THE RULES OF SAID COURTS. EACH PLEDGOR WAIVES ANY OBJECTION TO
JURISDICTION AND VENUE OF ANY ACTION INSTITUTED HEREON AND SHALL NOT ASSERT ANY
DEFENSE BASED ON LACK OF JURISDICTION OR VENUE OR BASED UPON FORUM NON
                                                             ----- ---
CONVENIENS.
----------

          (h)     This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original and all of which when taken together
shall constitute one and the same agreement.  Any signature delivered by a party
by facsimile transmission shall be deemed an original signature hereto.

          (i)     This Agreement and the security interests granted by the
Pledgors hereunder shall terminate upon the provision by Laurus of written
confirmation to the Company that (x) all indebtedness obligations owed by any
Pledgor to Laurus have been repaid (including, without limitation, all
principal, interest and fees related to the Term Note, any indebtedness referred
to in the Incremental Funding Side Letter, any Additional Funding Agreements (as
defined in the Master Security Agreement) and any other indebtedness outstanding
at such time and owed to the Pledgee) and (y) all commitments by the Pledgee to
fund any indebtedness have been terminated in their entirety.

                  [Remainder of Page Intentionally Left Blank]

                                       10
<PAGE>
     IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the
day and year first written above.

                                        SEQUIAM CORPORATION

                                        By:
                                        Name:
                                        Title:

                                        SEQUIAM SOFTWARE, INC.

                                        By:
                                        Name:
                                        Title:

                                        SEQUIAM BIOMETRICS, INC.

                                        By:
                                        Name:
                                        Title:

                                        SEQUIAM EDUCATION, INC.

                                        By:
                                        Name:
                                        Title:

                                        SEQUIAM SPORTS, INC.

                                        By:
                                        Name:
                                        Title:

                                        FINGERPRINT DETECTION TECHNOLOGIES, INC.

                                        By:
                                        Name:
                                        Title:

                                       11
<PAGE>
                                        LAURUS MASTER FUND, LTD.

                                        By:__________________________
                                           Name:
                                           Title:

                                       12
<PAGE>
<TABLE>
<CAPTION>
                    SCHEDULE A to the Stock Pledge Agreement
                    ----------------------------------------

                                    Pledged Stock
                                    -------------

Pledgor               Issuer  Class of Stock  Stock Certificate  Par Value  Number of
--------------------  ------  --------------  -----------------  ---------  ---------
                                                   Number                    Shares
                                                   ------                    ------
<S>                   <C>     <C>             <C>                <C>        <C>

[Insert Pledgors and
   Pledged Stock]
</TABLE>

                                       13
<PAGE>Exhibit 10.12

     1.     Laurus  Master  Fund,  Ltd.

                          825 Third Avenue, 14th Floor
     2.     New  York,  New  York,  10022

                                                                  April 27, 2004

Sequiam  Corporation
Address: 300 Sunport Lane
Orlando, FL 32809

               Re:     Incremental Funding
                       -------------------

     Reference  is  made to that certain Securities Purchase Agreement, dated as
of  April  27, 2004 (as amended, modified or supplemented from time to time, the
"Purchase  Agreement"),  between  Sequiam  Corporation, a California corporation
("Sequiam"),  and Laurus Master Fund, Ltd. ("Laurus"), pursuant to which Sequiam
issued  to  Laurus  a  Secured  Convertible Term Note in the aggregate principal
amount of Two Million Dollars ($2,000,000) (as amended, modified or supplemented
from  time  to time, the "Note").  Capitalized terms used but not defined herein
shall  have the meanings ascribed to such terms in the Purchase Agreement or the
Note,  as  applicable.

     In  connection  with  the foregoing and subject to the conditions set forth
herein,  Laurus  hereby agrees to make available to Sequiam additional financing
in an aggregate principal amount of up to $1,000,000 (One Million Dollars) (such
amount,  the  "Incremental  Funding  Amount") in one installment, so long as (i)
Sequiam  has  given  Laurus ten (10) business days prior written notice (or such
shorter  period  as  is  acceptable  to  Laurus)  of  its  desire  to  incur the
Incremental  Funding  Amount  (a  "Funding  Request"),  (ii) Sequiam has paid to
Laurus such other fees and expenses (including legal fees and expenses) then due
and  payable  to  Laurus  in  connection with either the Purchase Agreement, any
Related  Agreement, or the Incremental Funding Amount, (iii) no Event of Default
has  occurred  and  is  continuing  beyond  any applicable cure period under the
Purchase  Agreement  or  any  Related  Agreement,  (iv) Sequiam has a sufficient
number  of  authorized  shares  of its Common Stock that would be required to be
registered  to  permit  the  full  conversion  by Laurus at the applicable Fixed
Conversion  Price  of  the  Incremental  Funding  Amount (as defined below) into
freely  tradeable  shares  of  the  Company's  Common Stock, (v) the Incremental
Funding  Documents  (as defined below) have been delivered to Laurus in form and
substance  satisfactory  to  Laurus, and (vi) either (x) (A) the average closing

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price of the Common Stock as reported by Bloomberg, L.P. on the Principal Market
for  the  five  (5)  trading  days  immediately  preceding  the  delivery of the
respective  Funding  Request  was  greater  than  or  equal to 130% of the Fixed
Conversion  Price  at  such  time  and  (B)  either  (I)  an  effective  current
Registration Statement (as defined in the Registration Rights Agreement dated as
of the date hereof by and between the Sequiam and Laurus) covering the shares of
Common  Stock  to  be issued in connection with the conversion of the principal,
interest  and fees owed under the Note and the exercise of the Warrant exists or
(II) an exemption from registration of the Common Stock is available to pursuant
to  Rule  144  of  the Securities Act or (y) (A) the aggregate amount of revenue
generated  by  Sequiam and its Subsidiaries for the two fiscal months of Sequiam
ended  prior to the delivery of the respective Funding Request equals or exceeds
$333,333  for  each  such  fiscal  month and (B) Sequiam shall have delivered to
Laurus  unaudited income statements for each fiscal month of Sequiam referred to
in  the  preceding  clause (A) reflecting a revenue amount in excess of $333,333
for  each  such  fiscal  month (the calculation of which revenue amount shall be
reasonably  satisfactory to Laurus), together with such other information and/or
documentation  reasonably  requested  by  Laurus,  in each case certified by the
chief  financial  officer  of  Sequiam  as  being  true  and  correct.

     Prior  to the disbursement of the Incremental Funding Amount, Sequiam shall
deliver to Laurus the following documents in substantially the form delivered to
Laurus  on  the  date  hereof  in  connection  with the issuance of the Note and
otherwise  in form and substance satisfactory to Laurus (the following documents
collectively  referred  to  herein  as  the  "Incremental  Funding  Documents):

     (i)  a  Securities  Purchase  Agreement  with  respect  to  the Incremental
          Funding  Amount;

     (ii) a  Secured  Convertible Term Note in the aggregate principal amount of
          the  Incremental  Funding  Amount (it being understood and agreed that
          the  initial  Fixed  Conversion  Price  with  respect  to  the amounts
          outstanding in connection with the Incremental Funding Amount shall be
          an  amount  equal to the average closing price of the Company's Common
          Stock  for  the twenty (20) trading days immediately prior to the date
          of  the  funding of the Incremental Funding Amount; provided that such
          initial  Fixed  Conversion  Price shall not exceed 110% of the closing
          price  of  the Company's Common Stock on the day immediately preceding
          such  funding  date);

    (iii) a  Registration  Rights  Agreement for the shares of Common Stock into
          which  the  Incremental Funding Amount (together with all interest and
          fees  that  may  be  incurred  in connection therewith) is convertible
          into;

     (iv) a  Warrant  to  purchase (x) in the event that the Incremental Funding
          Amount  is  equal to $1,000,000, 333,334 shares of Common Stock or (y)
          in  the  event  that  the  Incremental  Funding  Amount  is  less than
          $1,000,000,  a  proportionate  amount of shares of Common Stock at the
          coverage  rate  set  forth  in  the  preceding  clause  (x);  and

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<PAGE>
     (v)  such  other  documentation  (including,  without limitation, corporate
          resolutions  and  legal  opinions)  reasonably  requested  by  Laurus.

     Sequiam  shall  not  be  liable to Laurus for any additional administrative
fees  associated  with  the Incremental Funding Amount except for the legal fees
incurred  in preparation of the Incremental Funding Documents to be delivered by
Sequiam upon disbursement of the Incremental Funding Documents.

     This  is not and shall not be deemed to be a binding agreement by Laurus to
honor  any  Funding  Request except as set forth herein.  Laurus's obligation to
fund  the  Incremental  Funding  Amount  shall  be  subject to the execution and
delivery  by  Sequiam  (and  its  Subsidiaries, if applicable) of agreements and
other  documentation  required  by  Laurus  in  its  sole  discretion, exercised
reasonably,  in accordance with the terms and conditions set forth herein.  This
letter  agreement  shall  automatically  terminate, unless extended by Laurus in
writing,  if  Sequiam  does  not satisfy the conditions to the incurrence of the
Incremental Funding Amount set forth herein by May 1, 2005.

     This  letter  (and  your  rights  and obligations hereunder and thereunder)
shall  not  be  assignable  by Sequiam to any person or entity without the prior
written  consent  of  Laurus  (and any purported assignment without such consent
shall  be null and void).  This letter may not be amended or waived except by an
instrument in writing signed by Sequiam and Laurus.  This letter may be executed
in  any  number  of  counterparts, each of which shall be an original and all of
which,  when  taken  together,  shall  constitute one agreement.  Delivery of an
executed  signature  page  of  this  letter  by  facsimile transmission shall be
effective  as  delivery of a manually executed counterpart hereof or thereof, as
the  case may be.  This letter shall be governed by, and construed in accordance
with,  the  laws  of  the  State of New York.  This letter sets forth the entire
agreement  between  the  parties  hereto  as to the matters set forth herein and
supersede all prior communications, written or oral, with respect to the matters
herein.

     EACH  OF  SEQUIAM  AND LAURUS HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY WITH
RESPECT  TO ANY CLAIM, ACTION, SUIT OR PROCEEDING ARISING OUT OF OR CONTEMPLATED
BY  THIS  LETTER.  YOU  HEREBY  SUBMIT  TO THE NON-EXCLUSIVE JURISDICTION OF THE
FEDERAL  AND  NEW  YORK  STATE  COURTS  LOCATED  IN  THE  COUNTY  OF NEW YORK IN
CONNECTION  WITH  ANY DISPUTE RELATED TO THIS LETTER OR ANY MATTERS CONTEMPLATED
HEREBY  OR  THEREBY.

                               *     *     *     *

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<PAGE>
     IN  WITNESS  WHEREOF, the parties have executed this letter agreement as of
the  first  date  written  above.

                         SEQUIAM  CORPORATION

                         By:________________________
                         Name:
                         Title:

                         LAURUS  MASTER  FUND,  LTD.

                         By:________________________
                         Name:
                         Title:

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<PAGE>

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