Document:

STOCK PURCHASE AGREEMENT

     THIS STOCK PURCHASE AGREEMENT, made and entered into this 16th day of May,
2001, by and between Kattosko Communications, Inc., a New Jersey corporation
with its principal place of business located at 340 Southside Avenue, Haledon,
NJ 07508 ("Purchaser"); and The Auxer Group, Inc., a Delaware corporation with
its principal place of business located at 12 Andrews Drive, West Paterson, NJ
07424; Auxer Telecom, Inc., a Delaware corporation with its principal place of
business located at 12 Andrews Drive, West Paterson, NJ 07424; and CT
Industries, Inc., a Delaware corporation with its principal place of business
located at 12 Andrews Drive, West Paterson, NJ 07424 (collectively known as
"Seller").

                                R E C I T A L S:

     FIRST, Seller is the owner of all of the issued and outstanding shares of
Clifton Telecard, Inc., a Delaware corporation ("Clifton").

     SECOND, Seller desires to sell all of its issued and outstanding shares of
Clifton to Purchaser for the consideration set forth herein.

     NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and agreements hereinafter set forth, the parties hereto agree as
follows:

     1.0  Transfer of Shares.
     ------------------------

     Seller hereby transfers and delivers all of the issued and outstanding
shares of Clifton to Purchaser for the following consideration: the value of the
current bank account of Clifton, valued at approximately $528,000.00 (see
attachment), located at Valley National Bank, Account #04076059 (Auxer will
retain ownership of this account). This shall include Purchaser's and Mohd
Qattous' guarantee to pay any and all

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<PAGE>

bounced checks, checks returned for insufficient funds or checks returned for
unavailable funds, all deposited up until May 11,2001, for such account
transferred into or the successor account established by Seller (Account Number:
040854590), within thirty days of the date hereof. If such payments are not made
within the thirty day time period set forth above, interest shall accrue on the
outstanding amount at the interest rate of the lower of 18% per annum or the
maximum allowed by law. If such payments are not made within 75 days from the
date hereof, Seller shall be entitled to institute any and all legal action to
collect such outstanding amount. Additional consideration is the forgiveness of
the entire indebtedness (approximately $160,000) of CT Industries, Inc. (a
wholly owned subsidiary of Seller). In addition, Seller agrees to forgive the
indebtedness of Clifton to Auxer Telecom, Inc. as of May 14, 2001. Seller hereby
agrees to undertake all standard and customary UCC, Lien and Tax Searches
(collectively, the "Searches") on Clifton. Upon receipt of the Searches, Seller
shall immediately send the results to Purchaser's attorney. If the results of
the Searches indicate there are any liens, taxes, judgements, security
instruments or the like (collectively, the "Liens") that Seller is responsible
for, Seller shall, in a reasonable time period, satisfy the Liens or Purchaser
can void this agreement by providing written notice to Seller. If Purchaser
allowed any Liens to be placed on Clifton, Seller shall not be responsible for
satisfying same.

     2.0 Additional Consideration. (A) Purchaser shall execute a Promissory Note
     ----------------------------
for $100,000 (one hundred thousand) payable to The Auxer Group, Inc., in the
form

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<PAGE>

attached hereto and made a part hereof. Such promissory note shall be guaranteed
by Mohd Qattous. (B) Purchaser shall have the right to purchase prepaid
telephone cards from Auxer Telecom, Inc. with terms of net 21 and a maximum
credit limit of $50,000 at the current discounts, provided goods are in good
working condition. (C) Purchaser shall have the right to sell prepaid telephone
cards to Seller with terms of Net 21 days and a maximum credit limit of $50,000
with current discounts, provided goods are in good working condition. Such
account shall remain active provided Seller maintains account in good standing
(D) Both Purchaser and Seller agree not to deactivate any cards currently in
circulation. (E) Auxer and Clifton agree to have mutual and equal access and
ownership of all cards with service provided by Auxer Telecom currently in
stock, except "Original" phone card. (F) Seller agrees not sell any of Clifton
Telecard's ITG serviced products to any Clifton Telecard customers, not to sell
the "Original" phone card for more than a twenty-eight percent (28%) discount,
not to sell the "African Voice" for more than thirty percent (30%) discount. (G)
Purchaser retains the rights to all trademarks containing CTA logo and Auxer
Telecom retains the rights to all trademarks containing those serviced by Auxer
Telecom except the "Original" and Seller agrees not to print the "Original". (H)
Buyer and Seller agree to indemnify and hold harmless each other. (H) Mustafa
Qattous shall resign as President of Operations and his employment contract
shall be immediately terminated. (I) Purchaser agrees to honor all activations
for all invoices to Seller placed by May 14, 2001 no later than May 17, 2001.
(J) Seller retains the right to sell product to Quick Stop (Heider) with out any
restrictions or stipulations. (K) Seller shall not be allowed to sell either the
"Original", "Northern Star"

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or "African Voice" to any of Purchaser's customers, attached hereto and made a
part hereof (with the exception of Quick Stop). (L) Purchaser shall be
responsible for Clifton's payroll as of May 14, 2001. (M) Seller shall not make
any prepaid telephone cards with Total Call, Inc. (Mark Leafstad) for a period
of one year from the date hereof.

     3.0 Representations and Warranties of Seller. Seller hereby represents and
     --------------------------------------------
warrants to Purchaser that:

     3.1 Authority. Seller has the power and authority to execute and deliver
     -------------
this Agreement, to perform its obligations hereunder and to consummate the
transactions contemplated hereby. This Agreement has been duly executed and
delivered by constitutes a valid and binding instrument, enforceable in
accordance with its terms.

     3.2 Compliance with Other Instruments. The execution, delivery and
     -------------------------------------
performance of this Agreement is in compliance with and does not conflict with
or result in a breach of or in violation of the terms, conditions or provisions
of any agreement, mortgage, lease or other instrument or indenture to which
Seller is a party or by which Seller is bound except for a pledge agreement
which will be released prior to the transfer of the shares.

     3.3 Title to Seller's shares in Clifton. Seller is the legal and beneficial
     ---------------------------------------
owner of its shares in Clifton and has good and marketable title thereto, free
and clear of any liens, claims, rights and encumbrances.

     3.3 Litigation and Proceedings. To the best of Seller's knowledge and
     ------------------------------
belief, there are no actions, suits, proceedings or investigations pending or
threatened by or against Seller or affecting Seller or its properties, at law or
in equity, before any court or other governmental agency or instrumentality,
domestic or foreign or before any

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<PAGE>

arbitrator of any kind that would have a material adverse affect on the
business, operations, financial condition or income of Seller. Seller does not
have any knowledge of any default on its part with respect to any judgment,
order, writ, injunction, decree, award, rule or regulation of any court,
arbitrator or governmental agency or instrumentality or of any circumstances
which, after reasonable investigation, would result in the discovery of such a
default.

     3.4 Material Contract Defaults. To the best of Seller's knowledge and
     ------------------------------
belief, Seller is not in default in any material respect under the terms of any
outstanding contract, agreement, lease or other commitment which is material to
the business, operations, properties, assets or condition of Seller, and there
is no event of default in any material respect under any such contract,
agreement, lease or other commitment in respect of which Seller has not taken
adequate steps to prevent such a default from occurring.

     3.5 No Conflict With Other Instruments. The execution of this Agreement and
     --------------------------------------
the consummation of the transactions contemplated by this Agreement will not
result in the breach of any term or provision of, or constitute an event of
default under, any material indenture, mortgage, deed of trust or other material
contract, agreement or instrument to which Seller is a party or to which any of
its properties or operations are subject.

     3.6 Governmental Authorizations. To the best of Seller's knowledge, Seller
     -------------------------------
has all licenses, franchises, permits or other governmental authorizations
legally required to enable Seller to conduct its business in all material
respects as conducted

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<PAGE>

on the date hereof. Except for compliance with federal and state securities and
corporation laws, as hereinafter provided, no authorization, approval, consent
or order of, or registration, declaration or filing with, any court or other
governmental body is required in connection with the execution and delivery by
Seller of this Agreement and the consummation of Seller of the transactions
contemplated hereby.

     3.7 Bill of Sale. Seller hereby agrees to provide Purchaser with a Bill of
     ----------------
Sale, or similar document or any document necessary to effectuate this
transaction, upon Purchaser's request.

     3.8 Seller hereby represents that Clifton Telecard, Inc. owns all
inventory, receivables, equipment, furnishings, website, company name, and all
other assets used in the operation of the business.

     4.0 Representations and Warranties of Purchaser. Purchaser hereby
     ------------------------------------------------
unconditionally represents and warrants to Seller that:

     4.1 Authority. Purchaser has the power and authority to execute and deliver
     -------------
this Agreement, to perform his obligations hereunder and to consummate the
transactions contemplated hereby. This Agreement has been duly executed and
delivered by Purchaser and constitutes a valid and binding instrument,
enforceable in accordance with its terms.

     4.2 Compliance with Other Instruments. The execution, delivery and
     --------------------------------------
performance of this Agreement is in compliance with and does not conflict with
or result in a breach of or in violation of the terms, conditions or provisions
of any agreement,

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<PAGE>

mortgage, lease or other instrument or indenture to which Purchaser is a party
or by which Purchaser is bound.

     4.3 Litigation and Proceedings. To the best of Purchaser's knowledge and
     ------------------------------
belief, there are no actions, suits, proceedings or investigations pending or
threatened by or against Purchaser or affecting Purchaser or its properties, at
law or in equity, before any court or other governmental agency or
instrumentality, domestic or foreign or before any arbitrator of any kind that
would have a material adverse affect on the business, operations, financial
condition or income of Purchaser. Purchaser does not have any knowledge of any
default on its part with respect to any judgment, order, writ, injunction,
decree, award, rule or regulation of any court, arbitrator or governmental
agency or instrumentality or of any circumstances which, after reasonable
investigation, would result in the discovery of such a default.

     4.4 Material Contract Defaults. To the best of Purchaser's knowledge and
     ------------------------------
belief, Purchaser is not in default in any material respect under the terms of
any outstanding contract, agreement, lease or other commitment which is material
to the business, operations, properties, assets or condition of Purchaser, and
there is no event of default in any material respect under any such contract,
agreement, lease or other commitment in respect of which Purchaser has not taken
adequate steps to prevent such a default from occurring.

     4.5 No Conflict With Other Instruments. The execution of this Agreement and
     --------------------------------------
the consummation of the transactions contemplated by this Agreement will not
result in the breach of any term or provision of, or constitute an event of
default under,

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<PAGE>

any material indenture, mortgage, deed of trust or other material contract,
agreement or instrument to which Purchaser is a party or to which any of its
properties or operations are subject.

     4.6 Governmental Authorizations. To the best of Purchaser's knowledge,
     -------------------------------
Purchaser have all licenses, franchises, permits or other governmental
authorizations legally required to enable Purchaser to conduct its business in
all material respects as conducted on the date hereof. Except for compliance
with federal and state securities and corporation laws, as hereinafter provided,
no authorization, approval, consent or order of, or registration, declaration or
filing with, any court or other governmental body is required in connection with
the execution and delivery by Purchaser of this Agreement and the consummation
of Purchaser of the transactions contemplated hereby.

     4.7 Access to Financial Information. Purchaser hereby agrees to provide
     -----------------------------------
Seller, or its representatives, access to the financial information of Clifton
up to the date of closing for the purpose of preparing and filing all required
SEC documents.

     5.0 Notices. Notice shall be given by certified mail, return receipt
     -----------
requested, the date of notice being deemed the date of postmarking. Notice,
unless either party has notified the other of an alternative address as provided
hereunder, shall be sent to the address as set forth herein.

     6.0 Governing Law. This Agreement shall be interpreted and governed in
     -----------------
accordance with the laws of the State of New Jersey.

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<PAGE>

     7.0 Severability. In the event that any term, covenant, condition, or other
     ----------------
provision contained herein is held to be invalid, void or otherwise
unenforceable by any court of competent jurisdiction, the invalidity of any such
term, covenant, condition, provision or Agreement shall in no way affect any
other term, covenant, condition or provision or Agreement contained herein,
which shall remain in full force and effect.

     8.0 Entire Agreement. This Agreement contains all of the terms agreed upon
     --------------------
by the parties with respect to the subject matter hereof. This Agreement has
been entered into after full investigation.

     9.0 Invalidity. If any paragraph of this Agreement shall be
     --------------
held or declared to be void, invalid or illegal, for any reason, by any court of
competent jurisdiction, such provision shall be ineffective but shall not in any
way invalidate or effect any other clause, Paragraph, section or part of this
Agreement.

     10.0 Gender and Number. Words importing a particular gender mean and
     ----------------------
include the other gender and words importing a singular number mean and include
the plural number and vice versa, unless the context clearly indicated to the
contrary.

     11.0 Amendments. No amendments or additions to this Agreement shall be
     ---------------
binding unless in writing, signed by both parties, except as herein otherwise
provided.

     12.0 No Assignments. Neither party may assign nor delegate any of its
     -------------------
rights or obligations hereunder without first obtaining the written consent of
the other party.

     13.0 Indemnification. Each party hereby agrees to hold harmless and
     --------------------
indemnify the other party, including but not limited to attorney fees, court
costs, damages, in the

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<PAGE>

event of: (1) any misrepresentation of such party or breach of this agreement;
(2) any claims with regard to Sections 3.3 and 4.3 herein.

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<PAGE>

         IN WITNESS WHEREOF, and intending to be legally bound, the parties
hereto have signed this Agreement by their duly authorized officers the day and
year first above written.

ATTEST:                                     THE AUXER GROUP, INC.

/s/ Ronald Shaver                           By /s/ Eugene Chiaramonte
-------------------------------             --------------------------

ATTEST:                                     AUXER TELECOM, INC.

/s/ Eugene Chiaramonte                      By /s/ Ronald Shaver
------------------------------              --------------------------

ATTEST:                                     CT INDUSTRIES, INC.

/s/ Ronald Shaver                           By /s/
------------------------------              --------------------------

ATTEST:                                     KATTOSKO COMMUNICATIONS, INC.

/s/ Mahd Qattous                            By /s/ Mahd Qattous
------------------------------              ---------------------------

I HEREBY PERSONALLY AGREE TO ABIDE BY THE TERMS OF SECTION 1.0 HEREIN WITH
RESPECT TO MY PERSONAL GUARANTEE.

WITNESS:

                                            /s/ Mohd Qattous
                                            ---------------------------
                                                MOHD QATTOUSEXCHANGE AGREEMENT

         EXCHANGE AGREEMENT ("Agreement"), entered into as of this 14th day of
November, 2000 between TRANS VOICE INVESTMENTS LTD. ("Seller"), and GLOBAL ASSET
HOLDINGS INCORPORATED ("Purchaser").

                                 R E C I T A L S

         WHEREAS, the Seller owns a membership interest ("Interest") in SavOn
Calling.com, LLC, ("SavOn") a Florida Limited Liability Company, subject to the
terms and conditions of the (i) Acquisition Agreement dated May 1, 2000 between
Seller and Teltran International Group, Ltd. as amended by agreement on October
6, 2000 (the "Acquisition Agreement") and (ii) SavOnCalling.com, LLC Limited
Liability Company Management Agreement dated January 1, 2000 as amended by the
First Amendment to the Limited Liability Company Management Operating Agreement
and as the same is required to be amended pursuant to the aforesaid Acquisition
Agreement ("the Operating Agreement");

         WHEREAS, the Seller wishes to sell its rights, claims and title to the
Interest, including any increases or reductions in the Interest and the
Purchaser wishes to purchase all Seller's right, title, and interest to the
Interest, as the same may be increased or decreased pursuant to the Amended
Acquisition Agreement as amended and Operating Agreement;

         NOW THEREFORE, in consideration of the mutual representations,
warranties, covenants and agreements contained in this Agreement and other good
and valuable consideration (the receipt and sufficiency of which are hereby
acknowledged), the parties hereto agree as follows:

                                    ARTICLE I
                                PURCHASE AND SALE

         1.1      Agreement to Purchase and Sell; Purchase Price

         Subject to the terms of this Agreement, the Seller hereby sells,
assigns, transfers and deliver to the Purchaser, and the Purchaser hereby agrees
to purchase the Interest from the Seller. The aggregate purchase price for the
Interest shall be (i) 2,000,000 shares of the common stock of the Purchaser (the
"Global Shares") and (ii) an additional number of Global Shares pursuant to
paragraph 1.2.

         1.2      Contingent Consideration

If during the eighteen (18) month period commencing January 1, 2001 and ending
June 30, 2002 ("The Earnings Period") the accumulated net after tax income of
SavOn is $1,200,000 or greater, then the Seller shall receive additional Global
Shares from Purchaser. For each $1.00 of net after tax income of SavOn in excess
of $1,200,000, Seller shall receive additional Global Shares having a market
value of $10.00 per share. Cumulative net after tax income shall be determined
in accordance with generally accepted accounting procedures consistently applied
and the determination thereof shall be subject to review procedures by
Purchaser's independent public accountants. Such determination shall be set
forth in a written statement delivered to the parties by August 15, 2002. The
market price shall be the average closing bid price for the twenty (20) business
days prior to June 30, 2002.

<PAGE>

         1.3      Deliveries by the Parties

         At a closing to be held no later than November 17, 2000:

         (a) the Purchaser shall deliver to the Seller certificates for the
Global Shares in the amount listed in Section 1.1. Such certificates shall bear
the following legend:

THE SECURITIES EVIDENCED BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD,
TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT (i) PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, (ii) TO THE EXTENT APPLICABLE, PURSUANT TO RULE 144 UNDER THE ACT (OR
ANY SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION OF SECURITIES), OR
(iii) PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER SUCH ACT.

         (b) At Closing, the Seller shall deliver an assignment evidencing the
transfer of the Interest to the Purchaser.

                                   ARTICLE II
                         REPRESENTATIONS AND WARRANTIES
                                  OF THE SELLER

         The Seller hereby represents and warrants to the Purchaser as follows:

         2.1      Execution, Delivery and Performance of Agreement. Execution,
Delivery and Performance of Agreement. The execution and delivery of this
Agreement by the Seller, and all other documents contemplated hereby, and the
performance of its respective obligations hereunder and thereunder is within the
respective powers of the Seller.

         2.2 Enforceability. This Agreement constitutes, when executed and
delivered by the Seller in accordance herewith, the valid and binding
obligations of the Seller enforceable in accordance with its terms, subject to
general principles of equity and bankruptcy or other laws relating to or
affecting the rights of creditors generally.

         2.3      Seller's Ownership of the Interest.  Seller owns the Interest
being sold hereunder free and clear of any liens or ncumbrances.

         2.4      Organization and Standing. Seller is a corporation duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation and has all requisite corporate power and
authority, and all authorizations, licenses, permits and certifications
necessary to own its properties and assets and to carry on its business as it is
now being conducted and proposed to be conducted. The Corporation is duly
qualified to transact business and is in good standing in each jurisdiction in
which the character of the properties owned or leased by it or the nature of its
businesses makes such qualification necessary.

                                   ARTICLE III
                        REPRESENTATIONS AND WARRANTIES OF
                                  THE PURCHASER

       Purchaser hereby represents and warrants to the Seller as follows:

         3.1 Execution, Delivery and Performance of Agreement; Authority
Delivery and Performance of Agreement; Authority. The execution and delivery of
this Agreement by the Purchaser, and all other agreements and documents
contemplated hereby, and the performance of their respective obligations
hereunder and thereunder are within the respective powers of the Purchaser,
having been duly authorized.

         3.2 Enforceability. This Agreement constitutes, when executed and
delivered by the Purchaser in accordance herewith, the valid and binding
obligations of the Purchaser enforceable in accordance with its terms, subject
to general principles of equity and bankruptcy or other laws relating to or
affecting the rights of creditors generally.

         3.3 Organization and Standing. Purchaser is a corporation duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation and has all requisite corporate power and
authority, and all authorizations, licenses, permits and certifications
necessary to own its properties and assets and to carry on its business as it is
now being conducted and proposed to be conducted. Purchaser is duly qualified to
transact business and is in good standing in each jurisdiction in which the
character of the properties owned or leased by it or the nature of its
businesses makes such qualification necessary.

<PAGE>

                                   ARTICLE IV
                            MISCELLANEOUS PROVISIONS

         4.1      Headings. The inclusion of headings in this Agreement is for
convenience of reference only and shall not affect the construction or
interpretation hereof.

         4.2      Entire Agreement; Waiver. This Agreement constitutes the
entire agreement between the parties pertaining to the subject matter of this
Agreement. There are no warranties, representations or other agreements between
the parties in connection with such subject matter except as specifically set
forth or referred to in this Agreement. No amendment, waiver or termination of
this Agreement shall be binding unless executed in writing by the party to be
bound thereby. No waiver of any provision of this Agreement shall constitute a
continuing waiver unless otherwise expressly provided.

         4.3      Governing Law. This Agreement  shall be governed by and
construed in accordance with the laws of the State of New York.

         4.4      Assignment. No party may assign its rights or benefits under
this Agreement and any such purported assignment or transfer is hereby declared
null and void.

         4.5      Cooperation; Further Assurances.. The parties shall cooperate
fully and in good faith with each other and their respective legal advisers,
accountants and other representatives in connection with any steps required to
be taken as part of their respective obligations under this Agreement. Each of
the parties shall promptly do, make, execute, deliver, or cause to be done,
made, executed or delivered, all such further acts, documents and things as the
other parties hereto may reasonably require from time to time for the purpose of
giving effect to this Agreement and the transactions contemplated by this
Agreement and shall use reasonable efforts and take all such steps as may be
reasonably within its power to implement the provisions of this Agreement to its
full extent.

         4.6      Counterparts. This Agreement may be signed in counterparts and
each such counterpart shall constitute an original document and such
counterparts, taken together, shall constitute one and the same instrument.

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

PURCHASER:                                  SELLER:

GLOBAL ASSET HOLDINGS,                      TRANS VOICE INVESTMENTS, LTD.
INCORPORATED

By: /s/ Irving Greenman                     By:
    --------------------------------            --------------------------------
    Irving Greenman, President

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