Document:

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                                                                    Exhibit 10.6

                          LICENSE AGREEMENT - PORTAL

THIS LICENSE AGREEMENT is made as of the 12/th/ day of July, 2000.

BETWEEN:

         INFORMATION HIGHWAY.COM, INC.,
         of #185, 10751 Shellbridge Way
         Richmond, BC V6X 2W8

         (hereinafter referred to as "IHWY")

                                                            OF THE FIRST PART

AND:

         THE EEZINET CORPORATION
         of 10373 College Square
         Columbia, Maryland 21044

         (hereinafter referred to as the "Customer")

                                                            OF THE SECOND PART

WHEREAS:

A.   IHWY is in the business of providing online systems operations services
     comprised generally of loading, storing and retrieving data and making the
     stored data available through the Internet to online users;

B.   IHWY has developed and owns all rights to market and license the IHWY
     Portal (as hereinafter defined);

C.   IHWY and the Customer entered into a License Agreement dated December 1,
     1999, whereby IHWY agreed to grant a license to the Customer for a
     customized IHWY Portal for New York City, New York;

D.   This License Agreement shall supercede the license agreement dated
     December 1, 1999, and the said license agreement is hereby terminated;

E.   The Customer desires to expand the IHWY Portal granted under the former
     license from New York City, New York to nationwide in the United States of
     America;

F.   IHWY is willing to grant the License (as hereinafter defined) to the
     Customer;

NOW THEREFORE, in view of the premises and in consideration of the mutual
covenants and

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<PAGE>

agreements hereinafter set forth, the parties hereto do hereby covenant and
agree as follows:

DEFINITIONS

1.   As used herein, the following terms shall have the following meanings:

     (a)  "Agreement" shall mean this License Agreement and all other documents
          which are made a part thereof;

     (b)  "Client" shall mean customers of The EEZINET Corporation;

     (c)  "Dollar" or "$" shall mean United States dollars;

     (d)  "E-commerce Revenues" shall mean any revenues generated from any and
          all e-commerce on the IHWY Portal(s) licensed to the Customer or
          resold by the Customer hereunder, exclusive of any revenues that may
          be generated from advertising as more particularly described in
          Section 17 and 18 herein;

     (e)  "Effective Date" shall mean the date of execution of this Agreement by
          both parties hereto;

     (f)  "IHWY Portal" shall mean an Internet Worldwide Website operated as a
          Web Portal and developed and maintained by IHWY in a format similar to
          the Website currently with a universal resource locator of
          toronto.theexecutive.com or any updated or expanded variation thereof;

     (g)  "Intellectual Property Rights" shall mean, with respect to any data,
          device, or other asset of any kind, all copyright, patent, trade
          secret, moral, termination, authorship and other proprietary rights
          relating to any such data, device, object code, source code or other
          asset including, without limitation, all rights necessary for the
          worldwide development, manufacture, modification, enhancement, sale,
          licensing, use, reproduction, publishing and display of such data,
          device, object code, source code or other asset;

     (h)  "License" shall mean the exclusive right and license to incorporate a
          customized version of an IHWY Portal to the Customer which will be
          nationwide in the United States of America at the sole discretion of
          IHWY, which customized version will be accessed by the Clients;

     (i)  "Maintain" shall mean that IHWY shall use commercially reasonable
          efforts to maintain the IHWY Portal viewable to the Internet public 24
          hours per day, 7 days per week, 365 days per year, except for the rare
          occasions when IHWY may be required to provide maintenance or repairs
          to the service for unscheduled or expected down times due to technical
          problems;

     (j)  "Reselling Rights" shall mean the non-exclusive right to sell
          customized IHWY Portals throughout the United States of America;

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     (k)  "Update" shall mean that IHWY will update the IHWY Portal with up-to-
          date content on a daily basis from its outsource suppliers and that as
          IHWY arranges for new content to its master portal, such content will
          be included in the IHWY Portal; and any content that does not require
          daily updating shall be updated on an "as needed" basis and at the
          sole discretion of IHWY.

GRANTING OF LICENSE

2.   IHWY hereby grants the License to the Customer on the terms and conditions
     set out herein for an initial term of ten years (the "Initial Term") from
     the Effective Date. The Customer will not use nor permit the use of the
     IHWY Portal for any purpose other than that expressly authorized under this
     Agreement. The License does not relate to the licensing by IHWY of its
     software or other technology for use or access by the Customer or any third
     party other than the right to access, market and distribute the IHWY
     Portal.

3.   IHWY acknowledges and agrees that Client's portal sites will be in the
     format of www."client".usa.theexecutive.com or as agreed to in writing by
               ---------------------------------
     the parties hereto.

4.   IHWY hereby grants to the Customer the Reselling Rights on the following
     terms:

     (a)  for each IHWY Portal sold by the Customer, IHWY and the Customer shall
          each receive 50% of any maintenance fees, which maintenance fee shall
          be not less than $300 per month (the "Maintenance Fee").

5.   The Customer agrees to pay to IHWY the Set-Up Fee and the Maintenance Fees
     within 10 days of receipt of such Set-Up Fees or Maintenance Fees by the
     Customer.

6.   The Customer acknowledges and agrees that IHWY has granted an exclusive
     license for an IHWY Portal and exclusive reselling rights in Washington, DC
     to Virtual Plus Technologies, LLC.

7.   IHWY agrees to provide a separate and exclusive server for Customer to
     host its IHWY Portal and the IHWY Portals sold by the Customer hereunder.

RENEWAL OF LICENSE

8.   After the expiry of the Initial Term of the License, the License may be
     renewed for successive ten year terms, provided that the parties hereto
     mutually agree in writing to extend the term of the License.

CONSIDERATION

9.   In consideration for the License and Reselling Rights, the Customer hereby
     agrees to issue to IHWY free trading common stock in the capital stock of
     the Customer, which free trading common stock shall have an aggregate value
     of $1,000,000 US, to be issued at a price that is less

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     than or equal to the price that the shares will be offered to the public in
     the Customer's upcoming public offering (the "Shares").

10.  In order to provide free trading Shares to IHWY, the Customer agrees to
     qualify the Shares for sale to the public in the public offering document
     of the Customer in which the Customer offers its common stock to the
     public, provided that the Shares are resalable at no less favorable terms
     than those of the Customer's public offering.

11.  The Customer agrees to issue the Shares on or before the date that the
     capital stock of the Customer is listed for trading on a stock exchange.

12.  In the event that the Customer is not listed for trading on a stock
     exchange on or before December 31st, 2000, the Customer agrees to pay the
     sum of $10,000 per month to IHWY for the IHWY Portal until such time as the
     Customer is listed on a stock exchange, which monthly payments shall be
     deducted from the $1,000,000 of Shares of the Customer to be issued
     pursuant to Section 9 herein.

13.  In the event that the Customer is not listed for trading on a stock
     exchange prior to twelve months from the Closing Date, the Customer shall
     pay the balance owing of the $1,000,000 by way of cash at the rate of
     $10,000 per month until the Customer has been listed on a stock exchange or
     until the $1,000,000 has been paid in full.

CHANGES TO AND MAINTENANCE OF IHWY PORTAL

14.  IHWY will Maintain and Update the IHWY Portal licensed to the Customer.
     IHWY acknowledges and agrees that the Customer may require further
     customizations and amendments to the IHWY Portal licensed hereunder and
     IHWY agrees to carry out such modifications in a timely manner; provided
     that IHWY may, at its sole discretion, decline to make any such
     customizations or modifications if such changes shall make the IHWY Portal
     unrecognizable as an IHWY Portal.

15.  IHWY acknowledges and agrees that Customer will notify IHWY by email of any
     changes or updates to the Client's database(s), portal sites, web pages, e-
     commerce and other related information hosted on Customer's IHWY Portal and
     IHWY will incorporate such changes as requested, subject to Section 14
     herein.

TECHNICAL SUPPORT

16.  IHWY shall provide and make available technical support to the Customer
     during regular business hours and after hours on an on call basis via
     email. IHWY shall have at its premises personnel capable of making changes
     and modifications to the IHWY Portal.

ADVERTISING

17.  The parties hereto agree that the policies set forth in Schedule "A"
     attached hereto shall govern all advertising on any and all IHWY Portals
     acquired hereunder (the "Advertising Policies").

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REVENUES

18.  Any revenues received from the advertising shall be divided between the
     parties as more particularly set forth in the Advertising Policies.

E-COMMERCE

19.  As part of the IHWY Portal licensed hereunder or any IHWY Portal that may
     be resold by the Customer hereunder, the parties hereto agree that IHWY
     shall provide all e-commerce solutions, which e-commerce solutions are more
     particularly described in Schedule "B" hereto (the "e-commerce").

20.  The E-commerce Revenues shall be divided equally between IHWY and the
     Customer. The Customer shall make any arrangements at its sole discretion
     to share its portion of the E-commerce Revenues for any IHWY Portals resold
     by the Customer hereunder, provided that IHWY shall receive no less than
     50% of such E-commerce Revenues.

EXPENSES

21.  Except as otherwise specifically provided in this Agreement, each party
     shall be solely responsible for any expenses incurred by it in the
     performance of its obligations pursuant to this Agreement.

AVAILABILITY OF IHWY PORTAL

22.  The IHWY Portal shall be available to users 24 hours per day, 365 days per
     year, except for routine maintenance, communication interruptions beyond
     the control of IHWY, and unscheduled downtime.

23.  IHWY acknowledges and agrees that it will provide immediate notice to
     Customer of any routine maintenance, communication interruptions and
     unscheduled downtime affecting the IHWY portal.

24.  IHWY acknowledges and agrees that all repairs made to the IHWY Portal's
     hardware and/or software will be made in a timely manner upon detection of
     the need for repair or notification of need for repair to any of the
     aforementioned elements of the IHWY portal.

OWNERSHIP OF IHWY PORTAL

25.  The Customer acknowledges that IHWY owns all right, title and interest in
     the material that is included in the IHWY Portal,. Except as expressly
     provided in this Agreement, the Customer shall not sell, transfer, publish,
     disclose, display, license or otherwise make available to others any part
     of the IHWY Portal. Except as expressly provided in this agreement, all
     Intellectual Property Rights and all other property rights of any nature in
     the IHWY Portal are, shall be and shall remain with IHWY. The IHWY Portal
     is and shall remain the sole and exclusive property

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     of IHWY, with IHWY having the right to obtain and hold in its name,
     patents, copyright registrations or trademark or service mark registrations
     or such other protection as may be appropriate to the subject matter, and
     any extensions and renewals thereof.

26.  IHWY acknowledges that Customer maintains the rights and exclusive
     ownership to all of the Customer's intellectual property software,
     products, technology, information and any other materials related to its
     entity and the entities of its Clients should the relationship between
     Customer and IHWY be terminated.

REPRESENTATIONS AND WARRANTIES OF IHWY

27.  IHWY hereby represents and warrants to the Customer, that:

     (a)  IHWY has the full right and power to grant the License in the manner
          set forth herein; and

     (b)  there are no outstanding agreements, assignments or encumbrances
          inconsistent with the terms hereof

INDEMNIFICATION

28.  The Customer shall indemnify and hold IHWY harmless of any claims in any
way connected with the Customer's or its Clients' use of the IHWY Portal or for
any loss or damage arising out of the use and/or incorporation of the IHWY
Portal in any Website of the Customer. The Customer agrees not to bring suit
against IHWY, its employees or agents and not to co-operate in any way with a
third party to bring suit against IHWY, or its employees or agents, based on any
kind of copyright infringement relating to the IHWY Portal.

DISCLAIMER

29.  IHWY makes no warranty or representation to the Customer or its Clients or
to any third party as to the performance or operation of IHWY's computer and
related hardware, hardware configurations, operations systems and related
firmware, the database content of the IHWY Portal or related products or
services, except for those warranties expressly provided herein; any implied
warranties (including without limitation the implied warranties of
merchantability, fitness for a particular purpose and good and workmanlike
manner) are hereby excluded. Both parties agree that IHWY's liability (under
breach of contract, negligence, strict liability or otherwise), if any, for any
damages relating to any such product, service (or the malfunction thereof) or
this Agreement shall be limited to the lesser of (at IHWY's sole discretion):

     (a)  the actual amounts received by IHWY for such product or service during
          the three month period preceding the event causing such damages, or

     (b)  the cost of repair, and will in no event include consequential,
          incidental, indirect, special or other damages of any kind, including
          loss of profits, even if IHWY has been advised of the likelihood of
          the occurrence of such damages. In no event shall IHWY be liable to

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          the Customer or its Clients, users of the IHWY Portal or any third
          party for any damages resulting from the content or nature of the
          information and data contained on the IHWY Portal, or the results of
          any search therefore. IHWY may cause to be placed on the IHWY Portal
          any disclaimers of warranties and liabilities it deems reasonable for
          its or the Customer's protection. There are no third party
          beneficiaries to this Agreement.

TERMINATION

30.   Unless terminated sooner as provided herein, this Agreement shall remain
in force for an initial term of ten years from the Effective Date and can be
renewed for successive ten year terms as set out in Section 8 herein.

31.   Either party shall have the right to terminate this Agreement upon a
breach by the other party of any one of its obligations or covenants contained
herein and upon not less than ninety days prior written notice to the other
party specifying the nature of such breach, and a failure to remedy such breach
within such ninety days after receiving such written notification, this
Agreement shall then terminate at the close of business ninety days after such
notice or on the latter day specified in such notice.

32.   IHWY or the Customer shall have the right to terminate this Agreement
forthwith if the other shall sell its business and/or the bulk of its assets
related thereto, or if a substantial change of control of either shall occur,
except that an initial public offering by Customer will not be considered a
substantial change, by giving 90 days advance written notice after receiving
notice of said sale or change or notice of an irrevocable intention to make such
a sale or change.

33.   The expiration, non-renewal or termination in accordance with this
Agreement by either party for any reason shall not give rise to any liability on
the part of the terminating party for compensation, reimbursement or damages on
account of the loss of prospective profits or anticipated sales or on account of
expenditures, investments, leases, property improvements or commitments in
connection therewith, or otherwise, and such expiration, non-renewal or
termination shall not affect the liability of one party to the other on account
of business previously consummated hereunder and final settlement thereof shall
be on the same basis as if this Agreement were continuing.

RELATIONSHIP OF THE PARTIES

34.   Nothing  in this Agreement shall be construed to create any franchise,
joint venture, trust or  commercial partnership or any other partnership
relationship between the parties hereto for any purpose whatsoever.

SUCCESSORS AND ASSIGNABILITY

35.   This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors.

36.   The Customer shall not assign, sublicense or otherwise grant to a third
party the License or Reselling Rights or any rights thereunder or under this
Agreement without prior written authorization from IHWY.

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SEVERABILITY

37.    If any provision of this Agreement is held by a competent court to be
invalid, illegal or  unenforceable for any reason or in any respect whatsoever,
such invalidity, illegality or unenforceability shall not affect any other
provisions of this Agreement, and this Agreement shall be construed as if such
invalid, illegal or unenforceable provision had never been contained herein.
IHWY and the Customer hereby agree, however, to negotiate an equitable amendment
of this Agreement if a material provision is adversely affected.

WAIVER

38.    The failure of either party to insist in any one or more instances upon
the strict performance of any one or more of the obligations of this Agreement
or to exercise any election herein contained, shall not be construed as a waiver
or relinquishment for the future of the performance of such one or more
obligations of this Agreement or of the right to exercise such election, but the
same shall continue and remain in full force and effect with respect to any
subsequent breach, act or omission.

ENTIRE AGREEMENT

39.   This Agreement shall constitute the entire Agreement between the parties
hereto and all prior or collateral agreements, understandings or representations
of any kind are hereby terminated, except that existing Confidentiality and Non-
Disclosure Agreements shall remain in full force and effect and are incorporated
herein by reference as if fully set forth herein.

MODIFICATION OF AGREEMENT

40.   This Agreement and any modification or waiver of any provision hereof
shall be binding only if set forth in writing and signed by both parties hereto
and shall be effective only to the extent set forth in such modification or
waiver and for the particular occasion.

NOTICE

41.   Any notice required or permitted under the terms of the Agreement will be
delivered in person or mailed or sent by courier service and will be deemed
given when either mailed or delivered by courier service or personally
delivered,

      To the Customer: Bernard J. Gaiter, Jr., President
                       The Eezinet Corporation
                       10373 College Square
                       Columbia, Maryland 21044

      To IHWY:         John Robertson, President
                       Information Highway.com, Inc.
                       # 185, 10751 Shellbridge Way
                       Richmond, BC V6X 2W8

                                       8
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or such other address as either party shall give written notice to the other
party.

HEADINGS

42.   Headings used herein are for convenience only and shall not be considered
as part of, or affect the construction or interpretation of any provision of
this Agreement.

GOVERNING LAW

43.   This Agreement shall be construed, interpreted and applied in accordance
with the laws of the State of Washington and the United States of America, and
all matters shall be resolved solely in the United States of America.

IN WITNESS WHEREOF, the parties hereunder have executed this Agreement on the
11th day of July, 2000.

INFORMATION HIGHWAY.COM, INC.    THE EEZINET CORPORATION
/s/ John G. Robertson            /s/ Bernard J. Gaiter Jr.
----------------------------------------------------------
Authorized Signatory             Authorized Signatory

John G. Robertson                Bernard J. Gaiter Jr.
------------------------------------------------------
Name                             Name

President                        President
-------------------------------------------------------
Title                            Title

                                       9
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                                 SCHEDULE "A"
               to the License Agreement - Portal made as of the
                        11th day of July, 2000 between
                    Information Highway.com, Inc. ("IHWY")
                                      and
                     The Eezinet Corporation ("Customer")

ADVERTISING POLICIES
--------------------

Entitlement to Advertising Space

1.   The Customer shall be entitled to the exclusive use of the Ad Banner on its
     customized IHWY Portal for the purposes of advertising and the Customer
     may, in its sole discretion, arrange any advertiser it sees fit for the Ad
     Banner, provided that IHWY shall have the right to approve or refuse any
     advertiser, which approval shall not be unreasonably withheld. "Ad Banner"
     shall mean the header space/ad banner located in a rectangular space,
     consisting of an image of 468 x 60 pixels, as displayed at the top of the
     IHWY Portal.

2.   As well as the Ad Banner, the Customer shall have a limited right to
     include additional advertising on its IHWY Portal in place of modules
     providing information not required by the Customer; provided that (the
     "Module Advertising"):

     (a)  the Customer may, at its option, determine which module it will
          replace with advertising;

     (b)  IHWY has the right to approve the additional advertiser, which
          approval shall not be unreasonably withheld;

     (c)  IHWY shall have the right to approve or disapprove of the replacement
          of the module with advertising, which approval or disapproval will be
          based on whether the replacement of such module will result in the
          Customer's IHWY Portal being unrecognizable as an IHWY Portal.

3.   For any IHWY Portals resold by the Customer hereunder, the Ad Banner shall
     be for the exclusive use of the customer acquiring such IHWY Portal and
     such customer may, in its sole discretion arrange any advertiser it sees
     fit for the Ad Banner, provided that IHWY shall have the right to approve
     or refuse any advertiser, which approval shall not be unreasonably
     withheld.

4.   No rights to Module Advertising shall be granted to any IHWY Portals
     resold by the Customer hereunder.

5.   At its sole discretion, the Customer or any customer acquiring an IHWY
     Portal hereunder may request the assistance of IHWY to arrange an
     advertiser or advertisers for the Ad Banner, provided that the Customer or
     customer shall have the right to approve or refuse any advertiser arranged
     by IHWY, which approval shall not be unreasonably withheld.

6.   IHWY shall, in its sole discretion, arrange any and all other advertising
     on the IHWY Portal, which shall include all hyperlinks included in the IHWY
     Portals acquired or resold by the Customer hereunder, which hyperlinks may
     be licensed to IHWY and included in the IHWY Portals, provided that such
     hyperlinks are part of IHWY's master portal. "Hyperlink" shall mean any
     content that is licensed to IHWY by its content providers.

Advertising Revenues

7.   Any Advertising Revenue (as hereinafter defined) received from the Ad
     Banner or the Module Advertising shall be for the sole and exclusive
     benefit of the Customer, unless the Customer requests that IHWY make
     arrangements for an advertiser, in which case the Customer shall grant

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     IHWY 50% percent of such revenue .

8.   Any other Advertising Revenue generated by the IHWY Portal, exclusive of
     the Ad Banner, shall be for the sole and exclusive benefit of IHWY.

9.   For the purposes of this Schedule "A", "Advertising Revenues" shall mean
     any and all revenue generated from advertising, which revenue shall
     include, but shall not be limited to, any payments made by the advertisers
     for its ad banner and any revenues generated from "click throughs" on the
     advertising Hyperlink. To further clarify, if any purchase is made from an
     advertisement on an ad banner or Hyperlink, including a text based
     hyperlink, then any e-commerce revenues generated shall be included in the
     Advertising Revenues.

Audit Rights

10.  The Customer shall be responsible for accounting for the Advertising
     Revenues earned through its IHWY Portal or any IHWY Portals resold by the
     Customer and shall provide detailed reports to IHWY of such Advertising
     Revenues on a quarterly basis.

11.  The Customer agrees that IHWY and/or its representatives shall be entitled
     to inspect twice per year that portion of the Customer's books or accounts
     that relate to the Advertising Revenues to verify the accuracy of amounts
     paid or accounts rendered by the Customer to IHWY for that quarter or for
     any previous quarter, provided that IHWY shall give reasonable notice to
     the Customer of its intent to examine such books, accounts and records and
     that IHWY and/or its representatives shall use their best efforts not to
     interrupt the daily business of the Customer and shall not make requests
     that are unreasonable for the Customer to fulfill.

INFORMATION HIGHWAY.COM, INC.    THE EEZINET CORPORATION
/s/ John G. Robertson            /s/ Bernard J. Gaiter Jr.
----------------------------------------------------------
Authorized Signatory             Authorized Signatory

John G. Robertson                Bernard J. Gaiter Jr.
------------------------------------------------------
Name                             Name

President                        President
------------------------------------------
Title                            Title

                                       11
<PAGE>

                                 SCHEDULE "B"
               to the License Agreement - Portal made as of the
                        11/th/ day of June, 2000 between
                    Information Highway.com, Inc. ("IHWY")
                                      and
                     The Eezinet Corporation ("Customer")

                              ECOMMERCE SOLUTIONS
                              -------------------

IHWY will provide the following e-commerce solutions for the Customer:

Program 1:
----------

The Customer refers its Clients to IHWY's virtual shopping mall at
http://shopping.theexecutive.com. For every sale the Customer refers to
--------------------------------
http://shopping.theexecutive.com, the Customer will receive a minimum of 50% of
--------------------------------
the http://shopping.theexecutive.com e-commerce revenue received by IHWY for the
    --------------------------------
sale of such product.  This method involves linking to
http://shopping.theexecutive.com from the IHWY Portal with a unique ID.
--------------------------------

Program 2:
----------

The Customer may attract sellers who want to set up a storefront on IHWY's
virtual shopping mall. Each time a seller sets up a product on the IHWY Portal
the Customer receives a finder's fee of $____.  The Seller must be approved by
IHWY for its virtual shopping mall http://shopping.theexecutive.com, where the
                                   --------------------------------
products will be listed.

Program 3:
----------

The Customer may attracts buyers to IHWY's inventory on the Customer's IHWY
Portal. IHWY can customize this feature so that the Customer may place IHWY's
entire inventory of products right on the Customer's IHWY Portal to give its
Clients direct access to http://shopping.theexecutive.com.  IHWY can customize
                         --------------------------------
this feature at the request of the Customer, then the Customer simply follows
the links to IHWY's Virtual Product Catalog and carries out the instructions to
create its own online virtual storefront.

INFORMATION HIGHWAY.COM, INC.    THE EEZINET CORPORATION
/s/ John G. Robertson            /s/ Bernard J. Gaiter Jr.
----------------------------------------------------------
Authorized Signatory             Authorized Signatory

John G. Robertson                Bernard J. Gaiter Jr.
------------------------------------------------------
Name                             Name

President                        President
------------------------------------------
Title                            Title

                                       12LOAN AGREEMENT

                            dated as of July 26, 2000

                                    between

                           WIN GATE EQUITY GROUP INC.

                                       and

                            ARTHUR F. LIPSON, TRUSTEE

<PAGE>

                                 LOAN AGREEMENT

         THIS LOAN AGREEMENT (this "Agreement") is entered into as of July 26,
2000 between Win-Gate Equity Group Inc. ("Borrower"), a Florida corporation,
having its principal office at 45 Broadway, New York, NY 10006 (the "Office")
Arthur E. Lipson, Trustee ("Lender"), with his address at 1920 East Hallandale
Beach Blvd., Hallandale, FL 33009, joined in by Globaltron Communications
Corporation ("Guarantor"), a Delaware corporation and a wholly owned subsidiary
of the Borrower having its office at 100 Biscayne Blvd., Miami, Florida.

                                    RECITALS

         WHEREAS, subject to and upon the terms and conditions herein set forth,
the Lender is willing to loan to the Borrower certain money as provided for
herein;

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

         1.1 Definitions.

         (a) As used in this Agreement, the following defined terms shall have
the meanings indicated below:

         "Agreement" means this Loan Agreement, the Exhibits and any other
documents or instruments delivered in accordance herewith, as the same may be
amended from time to time in accordance with the terms hereof.

         "Borrower" has the meaning ascribed to it in the forepart of this
Agreement.

         "Business Day" means any day other than a Saturday, Sunday or any day
on which State and Federal banking institutions in the State of New York are
authorized or obligated by law or executive order to close.

                                       1
<PAGE>

         "Conversion Date" shall have the meaning set forth in Section 2.6
hereof.

         "Event of Default" has the meaning ascribed to it in Article III.

         "Exchange Act" shall mean the Securities Exchange Act of 1934 or any
successor statute thereof.

          "Interest Rate" shall have the meaning set forth in Section 2.5 (a).

         "GNB" shall have the meaning set forth in Section 2.1 hereof.

         "GNB Loan" shall have the meaning set forth in Section 2.1 hereof.

         "Indebtedness" shall mean as to any Person (i) all indebtedness
(including principal, interest, fees and charges) of such Person (x) evidenced
by any notes, bonds, debentures or similar instruments made or issued by such
Person, (y) for borrowed money or (z) for the deferred purchase price of
property or services, (ii) the face amount of all letters of credit issued for
the account of such Person, (iii) all liabilities secured by any lien on any
property owned by such Person, whether or not such liabilities have been assumed
by such Person (provided, however, if such liability is non-recourse to such
Person, the amount of the Indebtedness attributed thereto shall not exceed the
greater of the fair market value of such property or the book value of such
property), (iv) the aggregate amount required to be capitalized in accordance
with GAAP under leases under which such Person is the lessee and (v) all
contingent obligations of such Person.

         "Lender" has the meaning attributed to it in the forepart of this
Agreement.

         "Lien" shall mean any mortgage, pledge, hypothecation, assignment,
deposit arrangement, encumbrance, lien (statutory or other), preference,
priority or other security agreement of any kind or nature whatsoever
(including, without limitation, any conditional sale or other title retention
agreement, any financing or similar statement or notice filed under any
recording or notice statute, and any lease having substantially the same effect
as any of the foregoing).

         "Loan" means the loan made by the Lender to the Borrower pursuant to
Section 2.1.

                                       2
<PAGE>

         "Material Adverse Effect" shall mean (a) any material adverse effect on
the condition (financial or otherwise), business, operations, assets, revenues,
properties or prospects of the Borrower, or (b) any material adverse effect on
the ability of the Borrower to perform any of its obligations under any of the
Operative Agreements.

         "Maturity Date" shall mean 90 days from the date hereof; or if the
parties mutually agree to change the Maturity Date to a later date, such date.

         "Note" means the convertible Promissory Note due on the Maturity Date
of the Borrower issued pursuant to Section 2.2, in the form attached as ExhibIt
1 hereto and made a part hereto.

         "Office" shall have the meaning set forth in the forepart of this
Agreement.

         "Operative Agreements" means the Note and this Agreement and any
supporting or other agreements required hereby to be entered into in connection
with the transactions contemplated by this Agreement.

                   "Person" means any natural person, corporation, limited
liability company, general partnership, limited partnership, limited liability
partnership, proprietorship, joint venture, other business organization, trust,
union, association or governmental or regulatory authority.

         "Qualifying Private Placement" means a private placement in the amount
of not less than $10,000,000 to Persons unrelated to the Lender of shares of
common stock or any other class of equity securities of the Borrower.

         "Securities Act" shall mean the Securities Act of 1933, as amended, or
any successor statute thereof.

         (b) Unless the context of this Agreement otherwise requires, (i) words
of any gender include each other gender; (ii) words using the singular or plural
number also include the plural or singular number, respectively; (iii) the terms
"hereof," "herein," "hereby" and derivative or similar words refer to this
entire Agreement; (iv) the terms "Article" or "Section" refer to the specified
Article or Section of this Agreement; and (v) the phrases "ordinary course of
business" and "ordinary course of business consistent with past practice" refer
to the business an practice of the Borrower.

                                       3
<PAGE>

                                   ARTICLE II
                                    THE LOAN

         II.1 The Loan.

         Subject to and upon the terms and conditions set forth herein, Lender
shall, on the date hereof, made a Loan to the Borrower in the principal amount
of US$900,000. If the Borrower defaults under the GNB Loan (as herein defined),
the Loan will be subordinate in right of payment and collection to a certain
loan entered into the Borrower and GNB Bank Panama S.A. ("GNB"), in the
principal amount of US$5,000,000 (excluding any additional Loans by GNB to
Borrower) (the "GNB Loan")

         II.2 Note.

         The Borrower's obligations to pay the principal of, and interest on,
the Loan made by the Lender are evidenced by the Note to be duly executed and
delivered by the Borrower, in the form of Exhibit 1, and delivered to the
Lender.

         11.3 Method and Place of Payment, Except as otherwise specifically
provided herein, all payments under this Agreement or the Note shall be made to
the payee not later than 12:00 Noon (New York time) on the Maturity Date or on
the date when due, in accordance with the terms of this Agreement and shall be
made in lawful money of the United States of America at a location in New York
designated by the Lender in a written notice given to the Borrower. Whenever any
payment to be made hereunder or under the Note shall be stated to be due on a
day which is not a Business Day, the due date thereof shall be extended to the
next succeeding Business Day.

         11.4 Prepayment. The Note may be prepaid in whole or in part, from time
to time with interest accrued to the date of prepayment without the express
written consent of the Lender.

         11.5 Interest

         (a) The Borrower shall pay, on the date hereof, interest in respect of
the unpaid principal amount of the Note from the date hereof until the Maturity
Date at a rate of 12% per annum (the "Interest Rate")

         (b) If principal or interest on the Loan is not paid when due,
thereafter the Borrower shall pay interest in respect of the unpaid principal
amount of the Loan at a rate per annum equal to 15%.

                                       4
<PAGE>

         (c) Accrued (and theretofore unpaid) interest in respect of the Loan
shall be payable (i) quarterly in advance; (ii) in case of conversion of the
Loan, in accordance with Section 2.6; or (iii) in the occurrence of an Event of
Default, on demand.

         If by reason of a prepayment of the principal balance of the Note, the
amount of prepaid interest on the Note would result in a rate being charged in
excess of the highest lawful rate allowable under the applicable laws, then
Lender shall refund to Borrower an amount so that the interest rate received on
the Loan from the date of its funding is not in excess of the highest lawful
rate.

         11.6 Conversion. At any time, after the Borrower has done a Qualifying
Private Placement and prior to the Maturity Date, at the request of the Lender,
it may convert the Note in whole or in part, inclusive of accrued interest to
the date of prepayment, into common stock or, at its selection, any other then
outstanding stock of the Borrower more senior of the common stock (the
"Conversion Stock"), on ten days prior written notice given to Borrower. Each
share of Conversion Stock shall be valued at the value of each share of common
stock or any other class of equity securities issued by the Borrower in the
Qualifying Private Placements done by the Borrower preceding the conversion of
the Loan.

         11.7 GNB Loan. Notwithstanding any of the provisions of Sections 2.3
and 2.5 hereof, the principal amount of the Loan and the interests will not be
paid to the Lender, if Borrower has defaulted in any of its obligations and
payments due under the GNB Loan in the original principal amount of $5,000,000.

                                   ARTICLE III
                                EVENTS OF DEFAULT

         It shall be an Event of Default if any of the conditions or events
described in Sections 3.1 through 3.7 ("Events, of Default") shall occur and be
continuing:

         III.1 Failure To Make Payments When Due. The Borrower shall (i)
default in the payment when due of the principal amount or the interest on the
Loan or (ii) default in any of the terms and provisions of its loan with GNB
Bank;

         III.2 Breach of Agreements. Failure of the Borrower to perform or
comply with any of its obligations contained in this Agreement; 5
<PAGE>

         III.3 Representations, etc. Any representation, warranty, covenant or
statement made by or on behalf of the Borrower in this Agreement or in the Note
or in any certificate delivered pursuant hereto or thereto shall prove to be
untrue in any material respect on the date as of which made or deemed made;

         III.4 Involuntary Bankruptcy, Appointment of Receiver, Etc. (i) A court
shall enter a decree or order for relief in respect of the Borrower in an
involuntary case under any applicable bankruptcy, insolvency or other similar
law now or hereafter in effect, which decree or order is not stayed; or any
other similar relief shall be granted and remain unstayed under any applicable
federal or state law;' or (ii) an involuntary case is commenced against the
Borrower under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect; or a decree or order of a court having jurisdiction in the
premises for the appointment of a receiver, liquidator, sequestrator, trustee,
custodian or other officer having similar powers over the Borrower or over all
or a substantial part of any of its assets and properties, shall have been
entered; or an interim receiver, trustee or other custodian of the Borrower for
all or a substantial part of their assets and properties is involuntarily
appointed; or a warrant of attachment, execution or similar process is issued
against any substantial part of the assets and properties of the Borrower and
the continuance of any such events in this clause (ii) for thirty (30) days
unless dismissed, bonded, stayed, vacated or discharged; or

         III.5 Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower
shall commence a voluntary case under any applicable bankruptcy, insolvency or
other similar law now or hereafter in effect, or shall consent to the entry of
an order for relief in an involuntary case, or to the conversion of an
involuntary case to a voluntary case, under any such law, or shall consent to
the appointment of or making possession by a receiver, trustee or other
custodian for all or a possession by a receiver, trustee or other custodian for
all or a substantial part of its assets and properties; the making by the
Borrower of any assignment for the benefit of creditors; the admission by the
Borrower in writing of their inability to pay its debts as such debts become
due; or the board of directors of the Borrower (or any committee thereof) adopts
any resolution or otherwise authorizes action to approve any of the foregoing.

         III.6 Judgments or Liens. One or more judgments or decrees shall be
entered against the Borrower involving in the aggregate for them a liability of
the equivalent of US$500,000 or

                                       6
<PAGE>

more, and all such judgments or decrees shall not have been vacated, discharged
or stayed or bounded pending appeal within 30 days after the entry thereof or a
Lien is imposed on the assets or properties of the Borrower in an amount of in
excess, together with other Liens, of US$500,000, exclusive of Liens to
equipment vendors.

         III.7 Change in Condition. Any material adverse change in the condition
(financial or otherwise), operations, assets, liabilities or prospects of the
Borrower.

         III.8 Remedies. Upon the occurrence of any Event of Default described
in this Section 3, the unpaid principal amount of and accrued interest on the
Loan shall automatically become immediately due and payable, without
presentment, demand, protest or other requirements of any kind, all of which are
hereby expressly waived by the Borrower, and the obligations of the Lender
hereunder shall thereupon terminate.

                                   ARTICLE IV
                   REPRESENTATIONS, WARRANTIES AND AGREEMENTS

         In order to induce the Lender to enter into this Agreement and to make
the Loan, the Borrower makes the following representations, warranties and
agreements as of the date hereof, which shall survive the execution and delivery
of this Agreement and the Notes and the making of the Loan:

         IV.l Legal Status. The Borrower and each of its subsidiaries (i) is a
duly organized and validly existing corporation in good standing under the laws
of the jurisdiction of its incorporation, (ii) has the power and authority and
possesses all franchises, permits, authorizations and approvals necessary to
carry on their business as now being conducted and to own its property and
assets, and (iii) has good and marketable title to its assets free and clear of
any Lien, except for Liens that do not cause a Material Adverse Effect in the
condition of the Borrower and its subsidiaries and except as set forth in
Schedule 4.1. The Borrower and each of its subsidiaries is in good standing in
each jurisdiction where the ownership, leasing or operation of property or the
conduct of its business requires such qualification.

         IV.2 Subsidiaries. The only subsidiaries of the Borrower are set forth
on Schedule 4.2.

         IV.3 Power and Authority. (i) The Borrower has the power and authority
to execute, deliver and perform the terms and provisions of the Operative
Agreements and has taken, as the case

                                       7
<PAGE>

may be, all necessary corporate action to authorize the execution, delivery and
performance by it of this Agreement; (ii) the Borrower has duly executed and
delivered the Operative Agreements and those Operative Agreements constitute its
legal, valid and binding obligation enforceable in accordance with its terms,
except as such enforcement may be limited by applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization or other similar laws relating to or
limiting creditors' rights generally or by general equity principles.

         IV.4 No Violation. To the Borrower's actual knowledge, neither the
execution, delivery or performance by the Borrower of this Agreement, nor
compliance by it with the terms and provisions thereof, nor the use of the
proceeds of the Loans (i) will contravene any provision of any law, statute,
rule or regulation or any order, writ, injunction or decree of any court or
governmental instrumentality binding on the Borrower or any of its subsidiaries,
(ii) will conflict or be inconsistent with or result in any breach of any of the
terms, covenants, conditions or provisions of, or constitute a default in
respect of the terms of any indenture, mortgage, deed of trust, credit
agreement, loan agreement or any other agreement, contract or instrument to
which the Borrower or any of its subsidiaries is a party or by which its
respective properties or assets is bound or to which it may be subject.

         IV.5 Litigation. Except as set forth in Schedule 4.5, there is no
claim, counterclaim, action, suit, order, proceeding or investigation pending
or, to the knowledge of the Borrower, threatened against or affecting any of
them with respect to or affecting the Borrower, or its assets, properties or
rights, or relating to the transactions contemplated hereby, before any court,
agency, regulatory, administrative or other governmental body or officer of
before any arbitrator.

         IV.6 Tax Returns, and. Payments. Except as provided in Schedule 4.6,
the Borrower has filed all tax returns required to be filed by the and has paid
all taxes payable by it which have become due pursuant to such tax returns and
all other taxes and assessments payable by them which have become due, other
than those not yet delinquent and except for those contested in good faith and
for which adequate reserves have been established.

         IV.7 Capitalization. (a) As of June 30, 2000, the authorized capital
stock of the Borrower consists of 20,000,000 shares of common stock, $.01 par
value per share, of which 18,150,702 shares are issued and outstanding and
5,000,000 shares of preferred stock, $.01 par value per share, none of which is

                                       8
<PAGE>

issued and outstanding. All the outstanding shares have been duly and validly
issued, are fully paid and non-assessable.

         IV.8 Compliance with Laws, etc. The Borrower is in compliance in all
material respects with all applicable statutes, regulations and orders of, and
all applicable restrictions imposed by, all governmental bodies in respect of
the conduct of its business and the ownership of its property (including
applicable statutes, regulations, orders and restrictions relating to
environmental standards and controls), and the issuance of its securities.

         IV.9 Labor Relations. To the Borrower's knowledge there is (i) no
significant unfair labor practice complaint pending or threatened against either
the Borrower or any of its subsidiaries, or before any governmental body or
agency and no significant grievance or significant arbitration proceeding
arising out of or under any collective bargaining agreement is so pending
against the Borrower or any of its subsidiaries, threatened against the Borrower
or any of its subsidiaries or, (ii) no significant strike, labor dispute,
slowdown or stoppage pending against the Borrower or any of its subsidiaries or,
threatened against the Borrower or any of its subsidiaries, (iii), no union
representation question existing with respect to the employees of the Borrower
or any of its subsidiaries.

         IV.1O Properties. The Borrower has good and marketable title, without
regard to defects of title which do not have a Material Adverse Effect, to all
properties owned by it, free and clear of all Liens. With respect to any lease
or rental agreement to which the Borrower is a party, (i) such lease or rental
agreement is in full force and effect, (ii) the Borrower has complied in all
material respects with all of the terms of such lease or rental agreement.

         IV.11 Assets other than Real Property. Except as set forth on Schedule
4.11 and Liens to equipment vendors, and to the Borrower's knowledge, it has
good title to all tangible assets owned by it, free and clear of all Liens that
individually or in the aggregate would not have a Material Adverse Effect on the
Borrower. All the intangible personal property owned by the Borrower is in all
material respects in good operating condition and repair, ordinary wear and tear
excepted, and all personal property leased by the Borrower is in all material
respects in the condition required of such property by the terms of the lease
applicable thereto.

                                       9
<PAGE>

         IV.12 Patents, Licenses, Franchises and Formulas. The Borrower or its
subsidiaries owns all the patents, trademarks, permits, service marks, trade
names, copyrights, licenses, franchises and formulas, or rights with respect to
the foregoing, and have obtained assignments of all leases and other rights of
whatever nature, necessary for the present conduct of their business, without
any known conflict with the rights of others which, or the failure to obtain
which, as the case may be, would result in a Material Adverse Effect on the
Borrower.

         IV.13 Insurance. The Borrower and its subsidiaries presently maintains
and have maintained in effect since their formation all the insurance policies
required by applicable law or reasonably appropriate in connection with the
operation of its business as presently conducted.

                                    ARTICLE V
                              AFFIRMATIVE COVENANTS

         The Borrower covenants and agrees that on and after the date hereof and
until the Note, together with all accrued interest, fees and all other
obligations incurred hereunder and thereunder, are paid in full:

         V.1 Information Covenants. The Borrower will furnish or cause to be
furnished to the Lender:

                  (a) Promptly, copies of all financial information, proxy
         materials and material filings, reports and information which either of
         the Borrower or any of its subsidiaries shall file or be required to
         file with any agency, regulatory authority or instrumentality of the
         Government.

                  (b) Other Information. From time to time, such other
         information or documents (financial or otherwise) as any Lender may
         reasonably request.

         V.2 Books, Records and Inspections. The Borrower and each of its
subsidiaries will keep proper books of record and account in which full, true
and correct entries in conformity with generally accepted accounting principles
consistently applied in the jurisdiction of each corporation and all
requirements of applicable law shall be made of all dealings and transactions in
relation to its business and activities.

         V.3 Maintenance of Property, Insurance. The Borrower and each of its
subsidiaries will (i) keep all property useful and necessary in its business in
good working order and condition

                                       10
<PAGE>

(ordinary wear and tear excepted), (ii) maintain with financially sound and
reputable insurance companies insurance on all its property in at least such
amounts and against at least such risks as are customary and in accordance with
industry standards for the business in which it is engaged;

         V.4 Corporate Franchises. The Borrower and each of its subsidiaries
will do or cause to be done, all things reasonably necessary to preserve and
keep in full force and effect its existence and its material rights, franchises,
licenses and other intellectual property.

         V.5 Conversion Stock. The Borrower will reserve a sufficient amount of
its capital shares in order to permit Lender to exercise Lender's conversion
rights under Section 2.6 above.

         V.6 GNB Loan. That Borrower shall take no actions which would
constitute an event of default under the GNB Loan.

                                   ARTICLE VI
                               NEGATIVE COVENANTS

         The Borrower covenants and agrees that on and after the date hereof and
until the Loan and the Note, together with interest, fees and all other
obligations incurred hereunder and thereunder, are paid in full:

         VI.1 Consolidation, Merger, Sale of Assets, etc. The Borrower and each
of its subsidiaries will not wind up, liquidate or dissolve its affairs or enter
into any transaction of merger or consolidation, or convey, sell, lease or
otherwise dispose of (or agree to do any of the foregoing, at any future time)
all or any part of its property or assets, or purchase or otherwise acquire (in
one or a series of related transactions) any part of the property or assets
(other than purchases or other acquisitions of inventory, materials and
equipment in the ordinary course of business) of any Person, except if the
Borrower is the surviving entity.

         VI.2 Dividends and Redemptions. (a) The Borrower and each of its
subsidiaries will not declare or pay any dividends, or return any capital, to
its stockholders or authorize or make any other distribution, payment or
delivery of property or cash to its stockholders as such, or redeem, retire,
purchase or otherwise acquire, directly or indirectly, for any consideration,
any shares of any class of its capital stock now or hereafter outstanding (or
any options or warrants issued by the Borrower with respect to its capital
stock), or set aside any funds for any of the foregoing

                                       11
<PAGE>

purposes; and (b) the Borrower will not redeem any common stock of the Borrower.

         VI.3 Transactions with Affiliates. The Borrower will not, and will not
permit any of its subsidiaries to, enter into any transaction or series of
related transactions, whether or not in the ordinary course of business, with
any affiliate other than on terms and conditions substantially as favorable to,
as the case may be, the Borrower or any such subsidiary as would be obtainable
by the Borrower or such Subsidiary at the time in a comparable arm's-length
transaction with a Person other than an affiliate.

         VI.4 Business. The Borrower will not, and will not permit any of its
subsidiaries to, engage (directly or indirectly) in any business other than the
business in which it is engaged on the date hereof.

                                   ARTICLE VII
                               SECURITIES MATTERS

         VII.1 Upon conversion of the Note, the Conversion Stock, will be
received by the Lender for investment purposes for its own account, and not with
the view to, or for resale in connection with, any distribution thereof. Lender
understands that the Conversion Stock will not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or under the
securities laws of various states, by reason of a specified exemption from the
registration provisions thereunder.

         VII.2 Lender acknowledges that the Conversion Stock may not be resold
unless they are subsequently registered under the Securities Act and under
applicable state securities laws or an exemption from such registration is
available. Lender has been advised or is aware of the provisions of Rule 144
promulgated under the Securities Act which permits limited resale of the
securities purchased in a private placement subject to the satisfaction of
certain conditions including, among other things, the availability of certain
current public information about Borrower and compliance with applicable
requirements regarding the holding period and the amount of securities to be
sold and the manner of sale.

         VII.3 Lender has received and carefully reviewed (i) Borrower's
Registration Statement on Form S-1, (ii) all other information filed by Borrower
pursuant to the Securities Act or the Securities Exchange Act of 1934, as
amended.

         VII.4 Lender is aware that no federal or state or other agency has
passed upon or made any finding or determination concerning the fairness of the
transactions contemplated by this

                                       12
<PAGE>

         Agreement or the adequacy of the disclosure of the exhibits and
schedules hereto and the Lender must forego the Conversion Stock, if an, that
such a review would provide.

         VII.5 Lender understands and acknowledges that neither the Internal
Revenue Service nor any other tax authority has been asked to rule on nor has it
ruled on the tax consequences of the transactions contemplated hereby.

         VII.6 Lender represents and covenants that it is arid "Accredited
Investor" as the term is defined in Rule 501(a) of Regulation D under the
Securities Act.

         VII.7 Lender understands that all certificates for the Conversion Stock
shall bear a legend in substantially the following form:

         "THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
         1933, AS AMENDED, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. THE
         SECURITIES MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED
         OF WITHOUT SUCH REGISTRATION OR THE DELIVERY TO THE ISSUER OF AN
         OPINION OF COUNSEL, SATISFACTORY TO THE ISSUER, THAT SUCH DISPOSITION
         WILL NOT REQUIRE REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES
         ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS.

                                  ARTICLE VIII
                              CONDITIONS PRECEDENT

         The obligations of Lender to make any funding under the Loan is subject
to the following condition precedent:

         An acknowledgment from GNB Bank that this Loan will not constitute a
default under the GNB Loan and that to the best of its knowledge, the Borrower
is not in default of the GNB Loan.

                                   ARTICLE IX
                                  MISCELLANEOUS

         IX.1 Investment Intent. Lender represents to the Borrower that: (i) it
will acquire the Note received by it pursuant to this Agreement and any
securities of the Borrower issuable upon conversion or exercise thereof for
investment purposes only and not with a view to the resale or distribution
thereof in a public offering within the meaning of the Securities Act, (ii) such
Note and other securities have not been registered under the Securities Act and
may not be resold unless they are registered under the

                                       13
<PAGE>

Securities Act or pursuant to an applicable exemption from such registration,
and (iii) Lender has such knowledge and experience in financial and business
matters that he or it is capable of evaluating the merits and risks in the
investment in the Borrower represented by the Notes and the shares issuable upon
conversion of the Notes.

         IX.2 Notices. All notices, requests and other communications hereunder
must be in writing and delivered personally against written receipt, by
facsimile transmission with answerback confirmation or mailed by prepaid first
class certified mail (air mail, if faster delivery), return receipt requested,
or mailed by overnight (or in the case of notices being sent or delivered
outside the United States, second day) courier prepaid, to the parties at the
following addresses or facsimile numbers:

                   If to Borrower, to:

                   Win Gate Equity Group Inc.
                   45 Broadway
                   New York, NY 10006
                   Attn: Gary Morgan
                   Fax:  (212) 509.6148

                   with a copy to:

                   Proskauer Rose LLP
                   1585 Broadway
                   New York, NY 10036
                   Attn:  David W. Sloan, Esq.
                   Fax:   (212) 969-2900

                   If to Lender, to:

                   Arthur Lipson, Trustee:
                   1920 East Hallandale Beach Blvd.
                   Hallandale, FL 33009
                   Fax:   (954) 455.3550

                   With a copy to:

                   Greenspoon, Marder, Hirschfeld,
                   Rafkin, Ross & Berger, PA.
                   100 W. Cypress Creek Road, Suite 700
                   Fort Lauderdale, FL 33309
                   Attn:  Gregory J. Blodig, Esq.
                   Fax:   (954) 771-9264

                                       14
<PAGE>

All such notices, requests and other communications will (i) if delivered
personally to the address as provided in this Section, be deemed given upon
delivery, (ii) if delivered by facsimile transmission to the applicable
facsimile number as provided in this Section, be deemed given upon receipt,
(iii) if delivered by United States mail in the manner described above to the
address as provided in this Section, be deemed given on the earlier of the tenth
Business Day following mailing or upon receipt and (iv) if delivered by courier
to the address as provided in this Section, be deemed given on the earlier of
the first Business Day (second Business Day in the case of notices given or sent
outside the United States) following the date sent by such courier or upon
receipt (in each case regardless of whether such notice, request or other
communication is received by any other Person to whom a copy of such notice is
to be delivered pursuant to this Section. Any party from time to time may
change its address, facsimile number or other information for the purpose of
notices to that party by giving notice specifying such change to the other party
hereto at least ten (10) Business Days prior to the effective date of such
notice.

         IX.3 Entire Agreement. This Agreement and the Operative Agreements
supersede all prior discussions and agreements between the parties with respect
to the subject matter hereof and thereof and contain the sole and entire
agreement between the parties hereto with respect to the subject matter hereof
and thereof.

         IX.4 Independence of. Representations, Warranties and Covenants. All
representations, warranties and covenants hereunder shall be given independent
effect so that if a particular action or condition is not permitted by any of
such covenants, the fact that it would be permitted by an exception to, or be
otherwise within the limitation of, another representation, warranty or covenant
shall not avoid the occurrence of an Event of Default if such action is taken or
condition exists.

         IX.5 No Third Party Beneficiary. The terms and provisions of this
Agreement are intended solely for the benefit of each party hereto and their
respective successors or permitted assigns, and it is not the intention of the
parties to confer third-party beneficiary rights.

         IX.6 Assignment; Binding Effect. This Agreement, all the rights,
interest or obligation hereunder may be assigned by the other party with the
prior written consent of the other party. This Agreement is binding upon, inures
to the benefit of and is

                                       15
<PAGE>

enforceable by the parties hereto and their respective permitted successors and
assigns.

         IX.7 Headings. The headings used in this Agreement have been inserted
for convenience of reference only and do not define or limit the provisions
hereof.

         IX.8 1nvalid Provisions. If any provision of this Agreement is held to
be illegal, invalid or unenforceable under any present or future Law, and if the
rights or obligations of any party hereto under this Agreement will not be
materially and adversely affected thereby, (i) such provision will be fully
severable, (ii) this Agreement will be construed and enforced as if such
illegal, invalid or unenforceable provision had never comprised a part hereof,
(iii) the remaining provisions of this Agreement will remain in full force and
effect and will not be affected by the illegal, invalid or unenforceable
provision or by its severance herefrom and (iv) in lieu of such illegal, invalid
or unenforceable provision, there will be added automatically as a part of this
Agreement a legal, valid and enforceable provision as similar in terms to such
illegal, invalid or unenforceable provision as may be possible.

         IX.9 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE DOMESTIC LAWS OF THE STATE OF NEW YORK WITHOUT GIVING
EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAW PROVISION OR RULE.

         IX.1O Computations. All computations of interest hereunder shall be
made on the basis of a year of 360 days for the actual number of days (including
the first day but excluding the last day) occurring in the period for which such
interest are payable.

         IX.l1 Counterparts. This Agreement may be executed in any number of
counterparts, each of which will be deemed an original, but all of which
together will constitute one and the same instrument.

         IX.12 Independent Advice. Lender confirms that he fully understands his
rights and obligations hereunder and that he has had an opportunity to consult
with such independent advisors, including counsel, as he deemed necessary or
appropriate.

         IX.13 [INTENTIONALLY LEFT BLANK]

         IX.14 JURY TRIAL WAIVER. THE LENDER AND BORROWER EACH HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVE THE

                                       16
<PAGE>

RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED
HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THE OPERATIVE AGREEMENTS
AND ANY OTHER AGREEMENT, DOCUMENT OR INSTRUMENT EXECUTED IN CONNECTION HEREWITH,
OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER ORAL OR WRITTEN)
OR ACTIONS OF ANY PARTY HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR
LENDER ENTERING INTO THIS AGREEMENT.

                                    ARTICLE X
                                    GUARANTY

         X.l The Guarantor irrevocably and unconditionally, subject to the
subordination provided in Section 2.1, guarantees the full and prompt payment
when due of the principal amount of and interest on the Note issued under this
Agreement and all other obligations and liabilities of the Borrower now existing
or hereafter incurred under, arising out of or in connection with the Operative
Agreements and the due performance in compliance with the terms of the Operative
Agreements by the Borrower ("Guaranteed Obligations"). Guarantor understands,
agrees and confirms that the Lender may enforce this guaranty obligation up to
the full amount of the Guaranteed Obligations against it without proceeding
against the Borrower. Guarantor irrevocably and unconditionally promises to pay
such Guaranteed Obligations to the Lender, or order, on demand, in lawful money
of the United States of America. The guaranty provided herein shall constitute a
guaranty of payment and not of collection.

         X.2 Guarantor hereby waives notice of acceptance of this guaranty
obligation and notice of any liability to which it may apply, and waives
presentment, demand of payment, protest, notice of dishonor or nonpayment of any
such liability, suit or taking of other action by the Lender against, and any
other notice to, any party liable thereon (including the Guarantor)

         X.3 The obligations of the Guarantor under this Agreement are absolute
and unconditional and shall remain in full force and effect without regard to,
and shall not be released, suspended, discharged, terminated or otherwise
affected by, any circumstances or occurrence whatsoever.

         IN WITNESS WHEREOF, this Agreement has been duly executed and delivered
by the duly authorized officer of each party hereto as of the date first above
written.

                                             WIN-GATE EQUITY GROUP INC

                                             By: /s/ Gary D. Morgan
                                                ----------------------------

                                             Name:  Gary D. Morgan
                                                  --------------------------

                                             Title:  CEO
                                                   -------------------------

                                             By: /s/ Arthur E. Lipson
                                                ----------------------------

                                             Name:  ARTHUR E. LIPSON
                                                  --------------------------

                                             GLOBALTRON COMMUNICATIONS
                                             CORPORATION

                                             By: /s/ Gary D. Morgan
                                                ----------------------------

                                             Name:  Gary D. Morgan
                                                  --------------------------

                                             Title:  CEO
                                                   -------------------------

                                       17
<PAGE>

                                  SCHEDULE 4.1

                                      None

                                       18
<PAGE>

                                  SCHEDULE 4.2

                                   GLOBALTRON

                                       19
<PAGE>

                                  SCHEDULE 4.5

                                      None

                                       20
<PAGE>

                                  SCHEDULE 4.6

        No taxes are owing by Win-Gate and therefore the tax returns have
                                not been filed.

                                       21
<PAGE>

                                  SCHEDULE 4.11

                                      None

                                       22
<PAGE>

                                 PROMISSORY NOTE
$900,000.00                                                      July 26, 2000
                                                                 York, New York

         FOR VALUE RECEIVED, the undersigned, Win-Gate Equity Group, Inc., a
Florida corporation, having its principal office at 45 Broadway, New York, New
York, hereinafter called "MAKER," promises to pay to the order of Arthur E.
Lipson, Trustee, or his successor(s) or assign(s) (collectively LENDER), at do
Mara and Joel Bloom, 330 West 58th Street, Apt. 145, New York, NY 10019, or such
other place in New York as the holder hereof may from time to time designate in
writing, the principal sum of NINE HUNDRED THOUSAND AND N0/100 DOLLARS
($900,000.00), or so much thereof as may have been advanced and outstanding from
time to time, together with interest thereon from the date or\dates of
disbursement of the aforesaid principal sum as hereinafter provided to be paid
in lawful money of the United State of America, which shall be legal tender in
payment of all debts and dues, public and private, at the time of payment.

          Interest on this Promissory Note ("Note") shall accrue at a rate equal
to twelve percent (12%) per annum and shall be payable in advance on a
quarterly basis, commencing with the date of this Note.

          This Note shall become due and payable in full ninety (90) days from
the date hereof at which time all outstanding principal and accrued but unpaid
interest hereon shall become due and payable in full.

          This Note is executed pursuant to the Loan Agreement of even date
herewith between the undersigned MAKER and Arthur E. Lipson, Trustee (said Loan
Agreement, as may be amended, is hereinafter referred to as the "Agreement").

         The terms and provision of the Agreement are incorporated by this
reference as though forth in full herein, and any default under the Agreement
shall constitute a default under this Note. In the event of any conflict or
inconsistency between the terms and provisions of this Note and those of the
Agreement, the terms and provisions of this Note shall in all respects govern
and control.

                                       1
<PAGE>

         At the option and upon request of LENDER, LENDER may convert this Note
to shares of capital stock of MAKER as provided for under the Agreement.

         In the event of any default under the Agreement or under any other
documents or instruments executed in connection therewith, including a failure
to make any payment of principal or interest due hereunder on the due date
thereof, LENDER may, at his option. accelerate maturity, and the unpaid
principal balance hereof and all accrued interest shall thereupon immediately
become due and payable without demand or notice. Failure to exercise this option
with respect to any failure or breach by MAKER shall not constitute a waiver of
the right as to any subsequent failure or breach.

         MAKER and all endorsers, guarantors, sureties and other parties now or
hereafter liable for the payment of any sum or sums due or to become due under
the terms of this Note waive presentment, protest and demand, and notice of
protest, demand and dishonor, and nonpayment of this Note, and consent that the
holder hereof shall have the right, without notice, to deal in any way at any
time with any party hereto, or to grant any extension or extensions of time for
payment of any of said indebtedness or any other indulgences or forbearances
w1c~atsoever without in any way affecting the liability of any other party for
the payment of this Note.

         MAKER further agrees to pay all reasonable costs of collection,
including reasonable attorney's fees and court costs (inclusive of any
bankruptcy or apellate proceedings), in case the principal of this Note or any
interest thereon is not paid when due whether suit be brought or not.

         No delay or omission on the part of the holder hereof in exercising any
right hereunder shall operate as a waiver of such right or any other right under
is Note, nor shall any waiver on one occasion be construed as a bar to or waiver
of any such right on any future occasion. No waiver shall be effective unless in
writing and signed by the holder.

         Interest hereunder shall be charged only on the sums advanced from the
date of advance to the date of repayment. MAKER hereof does not intend or expect
to pay, nor does LENDER intend or expect to charge, accept or collect any
interest which, when added to any other charge upon the principal, shall be in
excess of the highest lawful rate allowable under applicable law. Should
acceleration, prepayment or any other charges upon the principal or any portion
thereof result in the computation or earning of interest in excess of the
highest lawful rate allowable under applicable law, then any

                                       2
<PAGE>

and all such excess is hereby waived and shall be applied against the remaining
principal balance and/or refunded to MAKER to the extent such excess exceeds the
remaining principal balance.

         This Note shall be governed as to validity, interpretation,
construction, effect and all other respects by the laws and decisions of the
State of New York.

         The undersigned hereby specifically authorizes any action brought upon
the enforcement of this Note by LENDER to be instituted and prosecuted in either
the Circuit Court of Broward County, Florida, or in the United States District
Court for the Southern District of Florida, at the election of LENDER.

         All payments made hereunder shall be credited first to accrued interest
on the unpaid balance, and lastly to the payment of principal; however, in the
event of any default hereunder, LENDER may, in its sole discretion, and in such
order as it may choose, apply any payment to interest, principal and/or lawful
charges and expenses then accrued. After maturity or default, this Note shall
bear interest at fifteen percent (15%) per annum.

         This Note is binding upon MAKER and its successors and assigns.

         MAKER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES THE RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE AND ANY AGREEMENT,
DOCUMENT OR INSTRUMENT EXECUTED IN CONJUNCTION HEREWITH, 0R ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF
ANY PARTY HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR LENDER ACCEPTING
THIS NOTE FROM MAKER AND FOR LENDER ENTERING INTO THE AGREEMENT.

         This Note is being executed and delivered in New York.

      (CORPORATE SEAL)                            Win-Gate Equity Group, Inc.,
                                                  a Florida corporation

                                                  By: /s/ Gary D. Morgan
                                                     --------------------------
                                                          Gary D. Morgan

                                                  Its:  CEO
                                                       ------------------------

                                       3
<PAGE>
                                  CERTIFICATE

         The undersigned David Walsh, Assistant Secretary of Globaltron
Communications Corporation ("GCC"), and Gary D. Morgan, Secretary of Win-Gate
Equity (hoop, Inc., ("WOE") do hereby certify that the Board of Directors of
each of GCC and WGE authorized the execution of a loan agreement among GCC, WGE,
and Arthur E. Lipson, Trustee (the "Trustee"), for the loan by Trustee to WGE
for the principal sum of $9O0,000 plus interest at the rate of 12% (and the
delivery of a Promissory Note by WGE to the Trustee) under which loan agreement
GCC is a guarantor oF payment but not collection of the obligations of WGE

         IN WITNESS WHEREOF, the undersigned have signed this Certificate this
24th day of July, 2000.

                                     /s/ David Walsh
                                     ---------------------------------
                                     David Walsh
                                     Assistant Secretary
                                     Globaltron Communications Corporation

                                     /s/ Gary D. Morgan
                                     ---------------------------------
                                     Gary D. Morgan
                                     Assistant Secretary
                                     Win-Gate Equity Group, Inc.

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