Document:

Unassociated Document

    THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT OF 1933,
      AS
      AMENDED, OR ANY STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK
      ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE,
      PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
      AS
      TO THIS WARRANT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR
      AN
      OPINION OF COUNSEL REASONABLY SATISFACTORY TO CREATIVE VISTAS, INC. THAT SUCH
      REGISTRATION IS NOT REQUIRED

     

    Right
      to
      Purchase up to 2,411,003 Shares of Common Stock of

    Creative
      Vistas, Inc.

    (subject
      to adjustment as provided herein)

     

    COMMON
      STOCK PURCHASE WARRANT 

     

    
      	
              No.
                _________________

            	
              Issue
                Date: February 13, 2006

            

    

    

    Creative
      Vistas, Inc., a corporation organized under the laws of the State of Arizona
      (“CVAS”), hereby certifies that, for value received, LAURUS MASTER FUND, LTD.,
      or assigns (the “Holder”), is entitled, subject to the terms set forth below, to
      purchase from the Company (as defined herein) from and after the Issue Date
      of
      this Common Stock Purchase Warrant (this “Warrant”) and at any time or from time
      to time on or after a respective Warrant Effective Date and prior to 5:00 p.m.,
      New York time, through the close of business February ___,
      2016
      (the “Expiration Date”), up to 2,411,003 fully paid and nonassessable shares of
      Common Stock (as hereinafter defined), no par value per share at the applicable
      Exercise Price per share (as defined below). The number and character of such
      shares of Common Stock and the applicable Exercise Price per share are subject
      to adjustment as provided herein.

     

    As
      used
      herein the following terms, unless the context otherwise requires, have the
      following respective meanings: 

     

    (a) The
      term
“Company” shall include CVAS and any corporation which shall succeed, or assume
      the obligations of, CVAS hereunder. 

     

    (b) The
      term
“Common Stock” includes (i) the Company’s Common Stock, no par value per share;
      and (ii) any other securities into which or for which any of the securities
      described in the preceding clause (i) may be converted or exchanged pursuant
      to
      a plan of recapitalization, reorganization, merger, sale of assets or
      otherwise.

     

    (c) The
      term
“Other Securities” refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 4 or otherwise. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (d) A
      “Warrant Effective Date” applicable under this Warrant shall be the
      75th
      day
      following the provision by the Holder to the Company of an Exercise Notice
      (as
      defined below) stating that the Holder wishes to exercise its option hereunder
      to purchase all or a portion of the Common Stock or Other Securities that it
      is
      entitled to receive in accordance with this Warrant. The Exercise Notice shall
      set forth the amount of shares of Common Stock that the Holder shall receive
      on
      the respective Warrant Effective Date.

     

    (e) The
      “Exercise Price” applicable under this Warrant shall be $0.01 for each share of
      Common Stock acquired hereunder.

     

    1.  Exercise
      of Warrant.
      

     

    1.1  Number
      of Shares Issuable upon Exercise.
      From
      and after the date hereof through and including the Expiration Date, the Holder
      shall be entitled to receive, upon exercise of this Warrant in whole or in
      part,
      by delivery of an original or fax copy of an exercise notice in the form
      attached hereto as Exhibit A (the “Exercise Notice”), shares of Common Stock of
      the Company, subject to adjustment pursuant to Section 4. Each exercise of
      this
      Warrant shall be deemed to have been effected immediately prior to the close
      of
      business on the day on which this Warrant shall have been surrendered to the
      Company as provided in Section 2.2 below.

     

    1.2  Company
      Acknowledgment.
      The
      Company will, at the time of the exercise of this Warrant, upon the request
      of
      the holder hereof acknowledge in writing its continuing obligation to afford
      to
      such holder any rights to which such holder shall continue to be entitled after
      such exercise in accordance with the provisions of this Warrant. If the holder
      shall fail to make any such request, such failure shall not affect the
      continuing obligation of the Company to afford to such holder any such rights.
      

     

    1.3  Trustee
      for Warrant Holders.
      In the
      event that a bank or trust company shall have been appointed as trustee for
      the
      holders of this Warrant pursuant to Subsection 3.2, such bank or trust company
      shall have all the powers and duties of a warrant agent (as hereinafter
      described) and shall accept, in its own name for the account of the Company
      or
      such successor person as may be entitled thereto, all amounts otherwise payable
      to the Company or such successor, as the case may be, on exercise of this
      Warrant pursuant to this Section 1.

     

    2.  Procedure
      for Exercise.

     

    2.1  Delivery
      of Stock Certificates, Etc., on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder as the record owner of such
      shares as of the close of business on the date on which this Warrant shall
      have
      been surrendered and payment made for such shares in accordance herewith. As
      soon as practicable after the exercise of this Warrant in full or in part,
      and
      in any event within three (3) business days thereafter, the Company at its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder, or as such Holder
      (upon
      payment by such Holder of any applicable transfer taxes) may direct in
      compliance with applicable securities laws, a certificate or certificates for
      the number of duly and validly issued, fully paid and nonassessable shares
      of
      Common Stock (or Other Securities) to which such Holder shall be entitled on
      such exercise.

     

    
      
        
        

      

      
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    Exercise.
      Payment
      may be made either (i) in cash or by certified or official bank check payable
      to
      the order of the Company equal to the applicable aggregate Exercise Price,
      (ii)
      if there is not an effective registration statement covering the resale of
      the
      shares of Common Stock issuable following the exercise of this Warrant, by
      delivery of the Warrant, or shares of Common Stock and/or Common Stock
      receivable upon exercise of the Warrant in accordance with the immediately
      succeeding sentence and the formula contained therein, or (iii) by a combination
      of any of the foregoing methods, for the number of Common Shares specified
      in
      such Exercise Notice (as such exercise number shall be adjusted to reflect
      any
      adjustment in the total number of shares of Common Stock issuable to the Holder
      per the terms of this Warrant) and the Holder shall thereupon be entitled to
      receive the number of duly authorized, validly issued, fully-paid and
      non-assessable shares of Common Stock (or Other Securities) determined as
      provided herein. 

     

    3.  Effect
      of Reorganization, Etc.

     

    3.1  Reorganization,
      Consolidation, Merger, Etc.
      In case
      at any time or from time to time, the Company shall (a) effect a reorganization,
      (b) consolidate with or merge into any other person, or (c) transfer all or
      substantially all of its properties or assets to any other person under any
      plan
      or arrangement contemplating the dissolution of the Company, then, in each
      such
      case, as a condition to the consummation of such a transaction, proper and
      adequate provision shall be made by the Company whereby the Holder of this
      Warrant, on the exercise hereof as provided in Section 1 at any time after
      the
      consummation of such reorganization, consolidation or merger or the effective
      date of such dissolution, as the case may be, shall receive, in lieu of the
      Common Stock (or Other Securities) issuable on such exercise prior to such
      consummation or such effective date, the stock and other securities and property
      (including cash) to which such Holder would have been entitled upon such
      consummation or in connection with such dissolution, as the case may be, if
      such
      Holder had so exercised this Warrant, immediately prior thereto, all subject
      to
      further adjustment thereafter as provided in Section 4.

     

    3.2  Dissolution.
      In the
      event of any dissolution of the Company following the transfer of all or
      substantially all of its properties or assets, the Company, concurrently with
      any distributions made to holders of its Common Stock, shall at its expense
      deliver or cause to be delivered to the Holder the stock and other securities
      and property (including cash, where applicable) receivable by the Holder of
      the
      Warrant pursuant to Section 3.1, or, if the Holder shall so instruct the
      Company, to a bank or trust company specified by the Holder and having its
      principal office in New York, NY as trustee for the Holder (the
“Trustee”).

     

    3.3  Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer (and any dissolution
      following any transfer) referred to in this Section 3, this Warrant shall
      continue in full force and effect and the terms hereof shall be applicable
      to
      the shares of stock and other securities and property receivable on the exercise
      of this Warrant after the consummation of such reorganization, consolidation
      or
      merger or the effective date of dissolution following any such transfer, as
      the
      case may be, and shall be binding upon the issuer of any such stock or other
      securities, including, in the case of any such transfer, the person acquiring
      all or substantially all of the properties or assets of the Company, whether
      or
      not such person shall have expressly assumed the terms of this Warrant as
      provided in Section 4. In the event this Warrant does not continue in full
      force
      and effect after the consummation of the transactions described in this Section
      3, then the Company’s securities and property (including cash, where applicable)
      receivable by the Holder will be delivered to the Holder or the Trustee as
      contemplated by Section 3.2.

     

    
      
        
        

      

      
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    4.  Extraordinary
      Events Regarding Common Stock.
      In the
      event that the Company shall (a) issue additional shares of the Common Stock
      as
      a dividend or other distribution on outstanding Common Stock to all of the
      Company’s common stockholders, (b) subdivide its outstanding shares of Common
      Stock, or (c) combine its outstanding shares of the Common Stock into a smaller
      number of shares of the Common Stock, then, in each such event, the Exercise
      Price shall, simultaneously with the happening of such event, be adjusted by
      multiplying the then Exercise Price by a fraction, the numerator of which shall
      be the number of shares of Common Stock outstanding immediately prior to such
      event and the denominator of which shall be the number of shares of Common
      Stock
      outstanding immediately after such event, and the product so obtained shall
      thereafter be the Exercise Price then in effect. The Exercise Price, as so
      adjusted, shall be readjusted in the same manner upon the happening of any
      successive event or events described herein in this Section 4. The number of
      shares of Common Stock that the holder shall thereafter, on the exercise hereof
      as provided in Section 1, be entitled to receive shall be increased to a number
      determined by multiplying the number of shares of Common Stock that would
      otherwise (but for the provisions of this Section 4) be issuable on such
      exercise by a fraction of which (a) the numerator is the Exercise Price that
      would otherwise (but for the provisions of this Section 4) be in effect, and
      (b)
      the denominator is the Exercise Price in effect on the date of such
      exercise.

     

    5.  Certificate
      as to Adjustments.
      In each
      case of any adjustment or readjustment in the shares of Common Stock (or Other
      Securities) issuable on the exercise of this Warrant, the Company at its expense
      will promptly cause its Chief Financial Officer or other appropriate designee
      to
      compute such adjustment or readjustment in accordance with the terms of this
      Warrant and prepare a certificate setting forth such adjustment or readjustment
      and showing in detail the facts upon which such adjustment or readjustment
      is
      based, including a statement of (a) the consideration received or receivable
      by
      the Company for any additional shares of Common Stock (or Other Securities)
      issued or sold or deemed to have been issued or sold, (b) the number of shares
      of Common Stock (or Other Securities) outstanding or deemed to be outstanding,
      and (c) the Exercise Price and the number of shares of Common Stock to be
      received upon exercise of this Warrant, in effect immediately prior to such
      adjustment or readjustment and as adjusted or readjusted as provided in this
      Warrant. The Company will forthwith mail a copy of each such certificate to
      the
      holder of the Warrant and any Warrant agent of the Company (appointed pursuant
      to Section 10 hereof).

     

    6.  Reservation
      of Stock, Etc., Issuable on Exercise of Warrant.
      The
      Company will at all times reserve and keep available, solely for issuance and
      delivery on the exercise of this Warrant, shares of Common Stock (or Other
      Securities) from time to time issuable on the exercise of this
      Warrant.

     

    7.  Assignment;
      Exchange of Warrant.
      Subject
      to compliance with applicable securities laws, this Warrant, and the rights
      evidenced hereby, may be transferred by any registered holder hereof (a
“Transferor”) in whole or in part. On the surrender for exchange of this
      Warrant, with the Transferor’s endorsement in the form of Exhibit B attached
      hereto (the “Transferor Endorsement Form”) and together with evidence reasonably
      satisfactory to the Company demonstrating compliance with applicable securities
      laws, which shall include, without limitation, the provision of a legal opinion
      from the Transferor’s or company counsel that such transfer is exempt from the
      registration requirements of applicable securities laws, and with payment by
      the
      Transferor of any applicable transfer taxes) will issue and deliver to or on
      the
      order of the Transferor thereof a new Warrant of like tenor, in the name of
      the
      Transferor and/or the transferee(s) specified in such Transferor Endorsement
      Form (each a “Transferee”), calling in the aggregate on the face or faces
      thereof for the number of shares of Common Stock called for on the face or
      faces
      of the Warrant so surrendered by the Transferor.

     

    
      
        
        

      

      
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    8.  Replacement
      of Warrant.
      On
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant and, in the case of any such loss,
      theft or destruction of this Warrant, on delivery of an indemnity agreement
      or
      security reasonably satisfactory in form and amount to the Company or, in the
      case of any such mutilation, on surrender and cancellation of this Warrant,
      the
      Company at its expense will execute and deliver, in lieu thereof, a new Warrant
      of like tenor.

     

    9.  Registration
      Rights.
      The
      Holder of this Warrant has been granted certain registration rights by the
      Company. These registration rights are set forth in a Registration Rights
      Agreement entered into by the Company and Purchaser dated as of even date of
      this Warrant.

     

    10.  Maximum
      Exercise.
      Notwithstanding
      anything herein to the contrary, in no event shall the Holder be entitled to
      exercise any portion of this Warrant in excess of that portion of this Warrant
      upon exercise of which the sum of (1) the number of shares of Common Stock
      beneficially owned by the Holder and its Affiliates (other than shares of Common
      Stock which may be deemed beneficially owned through the ownership of the
      unexercised portion of the Warrant or the unexercised or unconverted portion
      of
      any other security of the Holder subject to a limitation on conversion analogous
      to the limitations contained herein) and (2) the number of shares of Common
      Stock issuable upon the exercise of the portion of this Warrant with respect
      to
      which the determination of this proviso is being made, would result in
      beneficial ownership by the Holder and its Affiliates of any amount greater
      than
      4.99% of the then outstanding shares of Common Stock (whether or not, at the
      time of such exercise, the Holder and its Affiliates beneficially own more
      than
      4.99% of the then outstanding shares of Common Stock). For purposes of the
      proviso to the immediately preceding sentence, beneficial ownership shall be
      determined in accordance with Section 13(d) of the Securities Exchange Act
      of
      1934, as amended, and Regulations 13D-G thereunder, except as otherwise provided
      in clause (1) of such proviso.  The Holder may waive the limitations set
      forth herein by sixty-one (61) days written notice to the  Company and
      such limitations shall automatically become null and void upon an Event of
      Default under and as defined in the Securities Purchase Agreement dated as
      of
      the date hereof between CVAS, Iview Digital Video Solutions Inc., Iview Holding
      Corp. and the Holder. As used herein, the term "Affiliate" means any person
      or entity that, directly or indirectly through one or more intermediaries,
      controls or is controlled by or is under common control with a person or entity,
      as such terms are used in and construed under Rule 144 under the Securities
      Act. 

     

    
      
        
        

      

      
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    11.  Warrant
      Agent.
      The
      Company may, by written notice to the each Holder of the Warrant, appoint an
      agent for the purpose of issuing Common Stock (or Other Securities) on the
      exercise of this Warrant pursuant to Section 1, exchanging this Warrant pursuant
      to Section 7, and replacing this Warrant pursuant to Section 8, or any of the
      foregoing, and thereafter any such issuance, exchange or replacement, as the
      case may be, shall be made at such office by such agent.

     

    12.  Transfer
      on the Company’s Books.
      Until
      this Warrant is transferred on the books of the Company, the Company may treat
      the registered holder hereof as the absolute owner hereof for all purposes,
      notwithstanding any notice to the contrary.

     

    13.  Notices,
      Etc.
      All
      notices and other communications from the Company to the Holder of this Warrant
      shall be mailed by first class registered or certified mail, postage prepaid,
      at
      such address as may have been furnished to the Company in writing by such Holder
      or, until any such Holder furnishes to the Company an address, then to, and
      at
      the address of, the last Holder of this Warrant who has so furnished an address
      to the Company.

     

    14.  Miscellaneous.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. This Warrant shall
      be governed by and construed in accordance with the laws of State of New York
      without regard to principles of conflicts of laws. Any action brought concerning
      the transactions contemplated by this Warrant shall be brought only in the
      state
      courts of New York or in the federal courts located in the state of New York;
      provided, however, that the Holder may choose to waive this provision and bring
      an action outside the state of New York. The Company agrees to submit to the
      jurisdiction of such courts and waive trial by jury. The prevailing party shall
      be entitled to recover from the other party its reasonable attorneys’ fees and
      costs. In the event that any provision of this Warrant is invalid or
      unenforceable under any applicable statute or rule of law, then such provision
      shall be deemed inoperative to the extent that it may conflict therewith and
      shall be deemed modified to conform with such statute or rule of law. Any such
      provision which may prove invalid or unenforceable under any law shall not
      affect the validity or enforceability of any other provision of this Warrant.
      The headings in this Warrant are for purposes of reference only, and shall
      not
      limit or otherwise affect any of the terms hereof. The invalidity or
      unenforceability of any provision hereof shall in no way affect the validity
      or
      enforceability of any other provision hereof. The Company acknowledges that
      legal counsel participated in the preparation of this Warrant and, therefore,
      stipulates that the rule of construction that ambiguities are to be resolved
      against the drafting party shall not be applied in the interpretation of this
      Warrant to favor any party against the other party.

     

    [BALANCE
      OF PAGE INTENTIONALLY LEFT BLANK;

    SIGNATURE
      PAGE FOLLOWS.]

     

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF, the Company has executed this Warrant as of the date first
      written above. 

     

    
      	 	 	
              CREATIVE
                VISTAS, INC.

            
	 	 	 
	
              WITNESS:

            	 	 
	 	 	
              By:

            	
              /s/
                DOMINIC BURNS

            
	 	 	
              Name:

            	
              Dominic
                Burns

            
	 	 	
              Title:

            	
              President

            

    

    

    

    
      
        
        

      

      
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    EXHIBIT
      A

     

    FORM
      OF OPTION EXERCISE NOTICE

    (To
      Be
      Signed Only On Exercise Of Warrant)

     

    

    TO:         Creative
      Vistas, Inc.

     

    

    Attention: Chief
      Financial Officer

    

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No.____), hereby irrevocably elects to purchase ________ shares of the Common
      Stock covered by such Warrant:

     

    
      	 	 	 
	 	 	 
	 	 	 
	 

    

    

    

     

    

    The
      undersigned requests that the certificates for such shares be issued in the
      name
      of, and delivered to ______________________________________________ whose
      address is
      ___________________________________________________________________________.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the securities issuable upon exercise of the within the Warrant shall be
      made
      pursuant to registration of the Common Stock under the Securities Act of 1933,
      as amended (the “Securities Act”) or pursuant to an exemption from registration
      under the Securities Act.

     

    
      	
              Dated:

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

            
	 	 	 
	 	 	
              Address:

            	 
	 	 	 	 

    

    

    

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

     

    FORM
      OF TRANSFEROR ENDORSEMENT

    (To
      Be
      Signed Only On Transfer Of Warrant)

     

    For
      value
      received, the undersigned hereby sells, assigns, and transfers unto the
      person(s) named below under the heading “Transferees” the right represented by
      the within Warrant to purchase the percentage and number of shares of Common
      Stock of Creative Vistas, Inc. into which the within Warrant relates specified
      under the headings “Percentage Transferred” and “Number Transferred,”
respectively, opposite the name(s) of such person(s) and appoints each such
      person Attorney to transfer its respective right on the books of Creative
      Vistas, Inc. with full power of substitution in the premises.

     

    
      	
               

              Transferees

            	 	
               

              Address

            	 	
              Percentage

              Transferred

            	 	
              Number
                Transferred

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

    

    

    

    
      	
              Dated:

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

            
	 	 	 
	 	 	
              Address:

            	 
	 	 	 	 

    

    

    

    
      	
               

            	
              SIGNED
                IN THE PRESENCE OF:

            
	 	 
	 	 
	 	
              (Name)

            
	
              ACCEPTED
                AND AGREED:

            	 
	
              [TRANSFEREE]

            	 
	 	 
	 	 
	 	 
	
              (Name)

            	 

    

     

     

    
      
        
        

      

      
        B-1Unassociated Document

    AMENDED
      AND RESTATED GUARANTY

     

    February
      13, 2006

     

    WHEREAS
      Cancable Inc., an Ontario corporation (“Cancable
      Canada”)
      Cancable Holding Corp., a Delaware corporation (“Cancable
      Holding”)
      and
      Laurus Master Fund, Ltd. a Cayman Islands company (“Laurus”)
      have
      entered into a Securities Purchase Agreement dated December 31, 2005 (as
      amended, modified or supplemented from time to time, the “2005
      Securities Purchase Agreement”)
      providing for the execution of the Related Agreements (as defined therein)(the
      “2005
      Related Agreements”);

     

    WHEREAS
      Creative Vistas, Inc., an Arizona corporation (the “Parent”),
      A.C.
      Technical Systems Ltd., an Ontario corporation (“A.C.
      Ltd.”),
      Creative Vistas Acquisition Corp., an Ontario corporation (“Creative
      Vistas Acquisition”),
      Cancable Holding, Iview Digital Video Solutions Inc., a federal Canadian
      corporation (“Iview”)
      and
      Cancable, Inc., a Nevada corporation (“Cancable
      US”)
      have
      given a guarantee dated December 31, 2005 in favour of Laurus (the “2005
      Guarantee”);

     

    WHEREAS
      Iview, the Parent and Iview Holding Corp., a Delaware corporation (“Iview
      Holding”)
      have
      entered into a Securities Purchase Agreement dated January 31, 2006 (as amended,
      modified or supplemented from time to time, the “2006
      Securities Purchase Agreement”)
      providing for the execution of the Related Agreements (as defined therein)(
      the
“2006
      Related Agreements”);

     

    WHEREAS
      it is a condition of the 2006 Securities Purchase Agreement that the 2005
      Guaranty is amended and restated to among other things include the obligations
      pursuant to the 2006 Securities Purchase Agreement and the 2006 Related
      Agreements;

     

    NOW
      THEREFORE FOR VALUE RECEIVED, and in consideration of note purchases from,
      loans
      made or to be made or credit otherwise extended or to be extended by Laurus
      to
      or for the account of Cancable Canada, Iview and/or the Parent (each a
“Debtor”
and
      collectively the “Debtors”),
      from
      time to time and at any time and for other good and valuable consideration
      and
      to induce Laurus, in its discretion, to purchase such notes, make such loans
      or
      extensions of credit and to make or grant such renewals, extensions, releases
      of
      collateral or relinquishments of legal rights as Laurus may deem advisable,
      each
      of the undersigned (and each of them if more than one, the liability under
      this
      Amended and Restated Guaranty being joint and several) (jointly and severally
      referred to as “Guarantors”
or
      “the
      undersigned”)
      irrevocably and unconditionally guarantees to Laurus, its successors, endorsees
      and assigns the prompt payment when due (whether by acceleration or otherwise)
      of all present and future obligations and liabilities of any and all kinds
      of
      the Debtors to Laurus and of all instruments of any nature evidencing or
      relating to any such obligations and liabilities upon which any Debtor or one
      or
      more parties and any Debtor are or may become liable to Laurus, whether incurred
      by any Debtor as makers, endorsers, drawers, acceptors, guarantors,
      accommodation parties or otherwise, and whether due or to become due, secured
      or
      unsecured, absolute or contingent, joint or several, and however or whenever
      acquired by Laurus, whether arising under, out of, or in connection with
      (i) the 2005 Securities Purchase Agreement, (ii) each 2005 Related
      Agreement, (the 2005 Securities Purchase Agreement and the 2005 Related
      Agreements, as each may be amended, modified, restated or supplemented from
      time
      to time, are collectively referred to herein as the “2005
      Documents”),
      (iii)
      the 2006 Securities Purchase Agreement, (iv) each 2006 Related Agreement (the
      2006 Securities Purchase Agreement and the Related Agreements, as each may
      be
      amended, modified, restated or supplemented from time to time are collectively
      referred to herein as the “2006
      Documents”)
      or any
      documents, instruments or agreements relating to or executed in connection
      with
      the 2005 Documents, 2006 Documents or any documents, instruments or agreements
      referred to therein or otherwise, or any other indebtedness, obligations or
      liabilities of the Debtors to Laurus, whether now existing or hereafter arising,
      direct or indirect, liquidated or unliquidated, absolute or contingent, due
      or
      not due and whether under, pursuant to or evidenced by a note, agreement,
      guaranty, instrument or otherwise (all of which are herein collectively referred
      to as the “Obligations”),
      and
      irrespective of the genuineness, validity, regularity or enforceability of
      such
      Obligations, or of any instrument evidencing any of the Obligations or of any
      collateral therefor or of the existence or extent of such collateral, and
      irrespective of the allowability, allowance or disallowance of any or all of
      the
      Obligations in any case commenced by or against any Debtor under Title 11,
      United States Code, the Bankruptcy
      and Insolvency Act
      (Canada)
      (the “BIA”)
      and
      the Companies’
      Creditors Arrangement Act
      (the
“CCAA”)
      including, without limitation, obligations or indebtedness of any or all of
      the
      Debtors for post-petition interest, fees, costs and charges that would have
      accrued or been added to the Obligations but for the commencement of such case.
      For greater certainty, the Indebtedness (as defined in the Debenture dated
      as of
      December 31, 2005 granted by A.C. Technical Systems Ltd. in favor of Laurus
      registered as instrument No. DR463328) shall include the Obligations hereunder.
      Terms not otherwise defined herein shall have the meaning assigned such terms
      in
      the 2006 Securities Purchase Agreement. In furtherance of the foregoing, the
      undersigned hereby agree as follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	1.  	
              No
                Impairment.
                Laurus may at any time and from time to time, either before or after
                the
                maturity thereof, without notice to or further consent of the undersigned,
                extend the time of payment of, exchange or surrender any collateral
                for,
                renew or extend any of the Obligations or increase or decrease the
                interest rate thereon, or any other agreement with any or all of
                the
                Debtors or with any other party to or person liable on any of the
                Obligations, or interested therein, for the extension, renewal, payment,
                compromise, discharge or release thereof, in whole or in part, or
                for any
                modification of the terms thereof or of any agreement between Laurus
                and
                any or all of the Debtors or any such other party or person, or make
                any
                election of rights Laurus may deem desirable under the United States
                Bankruptcy Code, as amended, the BIA, the CCAA, or any other federal,
                provincial or state bankruptcy, reorganization, moratorium or insolvency
                law relating to or affecting the enforcement of creditors’ rights
                generally (any of the foregoing, an “Insolvency
                Law”)
                without in any way impairing or affecting this Amended and Restated
                Guaranty. This instrument shall be effective regardless of the subsequent
                incorporation, merger, amalgamation or consolidation of any of the
                Debtors
                or Guarantors, or any change in the composition, nature, personnel
                or
                location of any of the Debtors or Guarantors and shall extend to
                any
                successor entity to any of the Debtors or Guarantors, including a
                debtor
                in possession or the like under any Insolvency
                Law.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	2.  	
              Guaranty
                Absolute.
                Each of the undersigned jointly and severally guarantees that the
                Obligations will be paid strictly in accordance with the terms of
                the 2005
                Documents and 2006 Documents and/or any other document, instrument
                or
                agreement creating or evidencing the Obligations, regardless of any
                law,
                regulation or order now or hereafter in effect in any jurisdiction
                affecting any of such terms or the rights of the Debtors with respect
                thereto. Guarantors hereby knowingly accept the full range of risk
                encompassed within a contract of “continuing guaranty” which risk includes
                the possibility that the Debtors will contract additional indebtedness
                for
                which Guarantors may be liable hereunder after the Debtors’ financial
                condition or ability to pay their lawful debts when they fall due
                has
                deteriorated, whether or not the Debtors have properly authorized
                incurring such additional indebtedness. The undersigned acknowledge
                that
                (i) no oral representations, including any representations to extend
                credit or provide other financial accommodations to the Debtors,
                have been
                made by Laurus to induce the undersigned to enter into this Amended
                and
                Restated Guaranty and (ii) any extension of credit to the Debtors
                shall be governed solely by the provisions of the 2005 Documents
                and 2006
                Documents. The liability of each of the undersigned under this Amended
                and
                Restated Guaranty shall be absolute and unconditional, in accordance
                with
                its terms, and shall remain in full force and effect without regard
                to,
                and shall not be released, suspended, discharged, terminated or otherwise
                affected by, any circumstance or occurrence whatsoever, including,
                without
                limitation: (a) any waiver, indulgence, renewal, extension, amendment
                or modification of or addition, consent or supplement to or deletion
                from
                or any other action or inaction under or in respect of the 2005 Documents
                and 2006 Documents or any other instruments or agreements relating
                to the
                Obligations or any assignment or transfer of any thereof, (b) any
                lack of validity or enforceability of any 2005 Document and/or 2006
                Document or other documents, instruments or agreements relating to
                the
                Obligations or any assignment or transfer of any thereof, (c) any
                furnishing of any additional security to Laurus or its assignees
                or any
                acceptance thereof or any release of any security by Laurus or its
                assignees, (d) any limitation on any party’s liability or obligation
                under the 2005 Documents and/or 2006 Documents or any other documents,
                instruments or agreements relating to the Obligations or any assignment
                or
                transfer of any thereof or any invalidity or unenforceability, in
                whole or
                in part, of any such document, instrument or agreement or any term
                thereof, (e) any bankruptcy, insolvency, reorganization, composition,
                adjustment, dissolution, liquidation or other like proceeding relating
                to
                the Debtors, or any action taken with respect to this Amended and
                Restated
                Guaranty by any trustee, receiver, interim receiver, or receiver
                and
                manager, or by any court, in any such proceeding, whether or not
                the
                undersigned shall have notice or knowledge of any of the foregoing,
                (f) any exchange, release or nonperfection of any collateral, or any
                release, or amendment or waiver of or consent to departure from any
                guaranty or security, for all or any of the Obligations or (g) any
                other circumstance which might otherwise constitute a defense available
                to, or a discharge of, the undersigned. Any amounts due from the
                undersigned to Laurus shall bear interest until such amounts are
                paid in
                full at the highest rate then applicable to the Obligations. Obligations
                include post-petition interest whether or not allowed or
                allowable.

            

    

     

    
      	3.  	
              Waivers.

            

    

     

    (a)  This
      Amended and Restated Guaranty is a guaranty of payment and not of collection.
      Laurus shall be under no obligation to institute suit, exercise rights or
      remedies or take any other action against any of the Debtors or any other person
      liable with respect to any of the Obligations or resort to any collateral
      security held by it to secure any of the Obligations as a condition precedent
      to
      the undersigned being obligated to perform as agreed herein and each of the
      Guarantors hereby waives any and all rights which it may have by statute or
      otherwise which would require Laurus to do any of the foregoing. The obligations
      of each Guarantor hereunder are independent of the Obligations and a separate
      action or actions may be brought and prosecuted against each Guarantor to
      enforce this Amended and Restated Guaranty, irrespective of whether any action
      is brought against the Debtors or whether any of the Debtors are joined in
      any
      such action or actions. Each of the Guarantors further consents and agrees
      that
      Laurus shall be under no obligation to marshal any assets in favor of
      Guarantors, or against or in payment of any or all of the Obligations. The
      undersigned hereby waives all suretyship defenses and any rights to interpose
      any defense, counterclaim or offset of any nature and description which the
      undersigned may have or which may exist between and among Laurus, the Debtors
      and/or the undersigned with respect to the undersigned’s obligations under this
      Amended and Restated Guaranty, or which the Debtors may assert on the underlying
      debt, including but not limited to failure of consideration, breach of warranty,
      fraud, payment (other than cash payment in full of the Obligations), statute
      of
      frauds, bankruptcy, infancy, statute of limitations, accord and satisfaction,
      and usury. 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    (b)  Each
      of
      the undersigned further waives (i) notice of the acceptance of this Amended
      and Restated Guaranty, of the making of any such loans or extensions of credit,
      and of all notices and demands of any kind to which the undersigned may be
      entitled, including, without limitation, notice of adverse change in any of
      the
      Debtor’s financial condition or of any other fact which might materially
      increase the risk of the undersigned and (ii) presentment to or demand of
      payment from anyone whomsoever liable upon any of the Obligations, protest,
      notices of presentment, non-payment or protest and notice of any sale of
      collateral security or any default of any sort.

     

    (c)  Notwithstanding
      any payment or payments made by the undersigned hereunder, or any setoff or
      application of funds of the undersigned by Laurus, the undersigned shall not
      be
      entitled to be subrogated to any of the rights of Laurus against any of the
      Debtors or against any collateral or guarantee or right of offset held by Laurus
      for the payment of the Obligations, nor shall the undersigned seek or be
      entitled to seek any contribution, indemnification or reimbursement from any
      of
      the Debtors in respect of payments made by the undersigned hereunder, until
      all
      amounts owing to Laurus by the Debtors on account of the Obligations are paid
      in
      full and Laurus’ obligation to extend credit pursuant to the 2005 Documents and
      2006 Documents have been terminated. If, notwithstanding the foregoing, any
      amount shall be paid to the undersigned on account of such subrogation rights
      at
      any time when all of the Obligations shall not have been paid in full and
      Laurus’ obligation to extend credit pursuant to the 2005 Documents and 2006
      Documents shall not have been terminated, such amount shall be held by the
      undersigned in trust for Laurus, segregated from other funds of the undersigned,
      and shall forthwith upon, and in any event within two (2) business days of,
      receipt by the undersigned, be turned over to Laurus in the exact form received
      by the undersigned (duly endorsed by the undersigned to Laurus, if required),
      to
      be applied against the Obligations, whether matured or unmatured, in such order
      as Laurus may determine, subject to the provisions of the 2005 Documents and
      2006 Documents. Any and all present and future debts and obligations of the
      Debtors to any of the undersigned are hereby waived and postponed in favor
      of,
      and subordinated to the full payment and performance of, all present and future
      debts and Obligations of the Debtors to Laurus.

     

    
      	4.  	
              Indemnity.
                As an original and independent obligation under this Amended and
                Restated
                Guaranty each Guarantor shall:

            

    

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    (a)  indemnify
      Laurus and keep Laurus indemnified against any cost, loss, expense or liability
      of whatever kind resulting from the failure by any of the Debtors to make due
      and punctual payment of any of the Obligations or resulting from any of the
      Obligations being or becoming void, voidable, unenforceable or ineffective
      against the Debtors (including, but without limitation, all legal and other
      costs, charges and expenses incurred by Laurus, in connection with preserving
      or
      enforcing, or attempting to preserve or enforce, its rights under this Amended
      and Restated Guaranty); and 

     

    (b)  pay
      on
      demand the amount of such cost, loss, expense or liability whether or not Laurus
      has attempted to enforce any rights against any of the Debtors or any other
      person or otherwise.

     

    
      	5.  	
              Security.
                All sums at any time to the credit of the undersigned and any property
                of
                the undersigned in Laurus’ possession or in the possession of any bank,
                financial institution or other entity that directly or indirectly,
                through
                one or more intermediaries, controls or is controlled by, or is under
                common control with, Laurus (each such entity, an “Affiliate”)
                shall be deemed held by Laurus or such Affiliate, as the case may
                be, as
                security for any and all of the undersigned’s obligations to Laurus and to
                any Affiliate of Laurus, no matter how or when arising and whether
                under
                this or any other instrument, agreement or otherwise.
                

            

    

     

    
      	6.  	
              Representations
                and Warranties.
                Each of the undersigned respectively, hereby jointly and severally
                represents and warrants (all of which representations and warranties
                shall
                survive until all Obligations are indefeasibly satisfied in full
                and the
                2005 Documents and 2006 Documents have been irrevocably terminated),
                that:

            

    

     

    (a)  Corporate
      Status.
      It is a
      corporation, partnership or limited liability company, as the case may be,
      duly
      organized, validly existing and in good standing under the laws of its
      jurisdiction of organization indicated on the signature page hereof and has
      full
      power, authority and legal right to own its property and assets and to transact
      the business in which it is engaged.

     

    (b)  Authority
      and Execution.
      It has
      full power, authority and legal right to execute and deliver, and to perform
      its
      obligations under, this Amended and Restated Guaranty and has taken all
      necessary corporate, partnership or limited liability company, as the case
      may
      be, action to authorize the execution, delivery and performance of this Amended
      and Restated Guaranty.

     

    (c)  Legal,
      Valid and Binding Character.
      This
      Amended and Restated Guaranty constitutes its legal, valid and binding
      obligation enforceable in accordance with its terms, except as enforceability
      may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
      or other laws of general application affecting the enforcement of creditor’s
      rights and general principles of equity that restrict the availability of
      equitable or legal remedies. 

     

    (d)  Violations.
      The
      execution, delivery and performance of this Amended and Restated Guaranty will
      not violate any requirement of law applicable to it or any contract, agreement
      or instrument to it is a party or by which it or any of its property is bound
      or
      result in the creation or imposition of any mortgage, lien or other encumbrance
      other than to Laurus on any of its property or assets pursuant to the provisions
      of any of the foregoing, which, in any of the foregoing cases, could reasonably
      be expected to have, either individually or in the aggregate, a Material Adverse
      Effect.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    (e)  Consents
      or Approvals.
      No
      consent of any other person or entity (including, without limitation, any
      creditor of the undersigned) and no consent, license, permit, approval or
      authorization of, exemption by, notice or report to, or registration, filing
      or
      declaration with, any governmental authority is required in connection with
      the
      execution, delivery, performance, validity or enforceability of this Amended
      and
      Restated Guaranty by it, except to the extent that the failure to obtain any
      of
      the foregoing could not reasonably be expected to have, either individually
      or
      in the aggregate, a Material Adverse Effect.

     

    (f)  Litigation.
      Other
      than as disclosed in Schedule 6(f)
      hereto,
      no litigation, arbitration, investigation or administrative proceeding of or
      before any court, arbitrator or governmental authority, bureau or agency is
      currently pending or, to the best of its knowledge, threatened (i) with
      respect to this Amended and Restated Guaranty or any of the transactions
      contemplated by this Amended and Restated Guaranty or (ii) against or
      affecting it, or any of its property or assets, which, in each of the foregoing
      cases, if adversely determined, could reasonably be expected to have a Material
      Adverse Effect.

     

    (g)  Financial
      Benefit.
      It has
      derived or expects to derive a financial or other advantage from each and every
      loan, advance or extension of credit made under the 2005 Documents and 2006
      Documents or other Obligation incurred by the Debtors to Laurus.

     

    
      	7.  	
              Acceleration.

            

    

     

    (a)  If
      any
      breach of any covenant or condition or other event of default shall occur and
      be
      continuing under any agreement made by any of the Debtors or any of the
      undersigned to Laurus, or any of the Debtors or any of the undersigned should
      at
      any time become insolvent, or make a general assignment, or if a proceeding
      in
      or under any Insolvency Law shall be filed or commenced by, or in respect of,
      any of the undersigned, or if a notice of any lien, levy, or assessment is
      filed
      of record with respect to any assets of any of the undersigned by the United
      States of America or Canada, or any respective department, agency, or
      instrumentality of either country, or if any taxes or debts owing at any time
      or
      times hereafter to any one of them becomes a lien or encumbrance upon any assets
      of the undersigned in Laurus’ possession, or otherwise, any and all Obligations
      shall for purposes hereof, at Laurus’ option, be deemed due and payable without
      notice notwithstanding that any such Obligation is not then due and payable
      by
      the Debtors.

     

    (b)  Each
      of
      the undersigned will promptly notify Laurus of any default by such undersigned
      in its respective performance or observance of any term or condition of any
      agreement to which the undersigned is a party if the effect of such default
      is
      to cause, or permit the holder of any obligation under such agreement to cause,
      such obligation to become due prior to its stated maturity and, if such an
      event
      occurs, Laurus shall have the right to accelerate such undersigned’s obligations
      hereunder.

     

    
      	8.  	
              Payments
                from Guarantors.
                Laurus, in its sole and absolute discretion, with or without notice
                to the
                undersigned, may apply on account of the Obligations any payment
                from the
                undersigned or any other guarantors, or amounts realized from any
                security
                for the Obligations, or may deposit any and all such amounts realized
                in a
                non-interest bearing cash collateral deposit account to be maintained
                as
                security for the Obligations.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	9.  	
              Tax
                Gross Up.
                Any and all payments by each Guarantor hereunder, and any amounts
                on
                account of interest or deemed interest, shall be made free and clear
                of
                and without deduction for any and all present or future taxes, levies,
                imposts, deductions, charges or withholdings, and all liabilities
                with
                respect thereto, excluding taxes imposed on net income or franchise
                taxes
                of Laurus by the jurisdiction in which such person is organized or
                has its
                principal office (all such non-excluded taxes, levies, imposts,
                deductions, charges withholdings and liabilities, collectively or
                individually, “Taxes”).
                If any Guarantor shall be required to deduct any Taxes from or in
                respect
                of any sum payable hereunder to Laurus, (i) the sum payable shall be
                increased by the amount (an “additional
                amount”)
                necessary so that after making all required deductions (including
                deductions applicable to additional sums payable under this Section
                9)
                Laurus shall receive an amount equal to the sum it would have received
                had
                no such deductions been made, (ii) such Guarantor shall make such
                deductions and (iii) such Guarantor shall pay the full amount
                deducted to the relevant governmental authority in accordance with
                applicable law.

            

    

     

    In
      addition, each Guarantor agrees to pay to the relevant governmental authority
      in
      accordance with applicable law any present or future stamp or documentary taxes
      or any other excise or property taxes, charges or similar levies that arise
      from
      any payment made hereunder or from the execution, delivery or registration
      of,
      or otherwise with respect to, this Amended and Restated Guaranty (“Other
      Taxes”).
      Each
      Guarantor shall deliver to Laurus official receipts, if any, in respect of
      any
      Taxes or Other Taxes payable hereunder promptly after payment of such Taxes
      or
      Other Taxes or other evidence of payment reasonably acceptable to
      Laurus.

     

    Each
      Guarantor hereby indemnifies and agrees to hold Laurus harmless from and against
      Taxes and Other Taxes (including, without limitation, Taxes and Other Taxes
      imposed on any amounts payable under this Section 9) paid by such person,
      whether or not such Taxes or Other Taxes were correctly or legally asserted.
      Such indemnification shall be paid within ten (10) days from the date on which
      any such person makes written demand therefore specifying in reasonable detail
      the nature and amount of such Taxes or Other Taxes.

     

    
      	10.  	
              Costs.
                The undersigned shall pay on demand, all costs, fees and expenses
                (including, without limitation, expenses for legal services of every
                kind)
                relating or incidental to the enforcement or protection of the rights
                of
                Laurus hereunder or under any of the
                Obligations.

            

    

     

    
      	11.  	
              No
                Termination.
                This is a continuing irrevocable guaranty and shall remain in full
                force
                and effect and be binding upon the undersigned, and each of the
                undersigned’s successors and assigns, until all of the Obligations have
                been paid in full and Laurus’ obligation to extend credit pursuant to the
                2005 Documents and 2006 Documents has been irrevocably terminated.
                If any
                of the present or future Obligations are guaranteed by persons,
                partnerships or corporations in addition to the undersigned, the
                death,
                release or discharge in whole or in part or the bankruptcy, amalgamation,
                merger, consolidation, incorporation, liquidation or dissolution
                of one or
                more of them shall not discharge or affect the liabilities of any
                undersigned under this Amended and Restated
                Guaranty.

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	12.  	
              Recapture.
                Anything in this Amended and Restated Guaranty to the contrary
                notwithstanding, if Laurus receives any payment or payments on account
                of
                the liabilities guaranteed hereby, which payment or payments or any
                part
                thereof are subsequently invalidated, declared to be fraudulent or
                preferential, set aside and/or required to be repaid to a trustee,
                receiver, interim receiver or receiver and manager or any other party
                under any Insolvency Law, common law or equitable doctrine, then
                to the
                extent of any sum not finally retained by Laurus, the undersigned’s
                obligations to Laurus shall be reinstated and this Amended and Restated
                Guaranty shall remain in full force and effect (or be reinstated)
                until
                payment shall have been made to Laurus, which payment shall be due
                on
                demand.

            

    

     

    
      	13.  	
              Books
                and Records.
                The books and records of Laurus showing the account between Laurus
                and the
                Debtors shall be admissible in evidence in any action or proceeding,
                shall
                be binding upon the undersigned for the purpose of establishing the
                items
                therein set forth and shall constitute prima facie proof
                thereof.

            

    

     

    
      	14.  	
              No
                Waiver.
                No failure on the part of Laurus to exercise, and no delay in exercising,
                any right, remedy or power hereunder shall operate as a waiver thereof,
                nor shall any single or partial exercise by Laurus of any right,
                remedy or
                power hereunder preclude any other or future exercise of any other
                legal
                right, remedy or power. Each and every right, remedy and power hereby
                granted to Laurus or allowed it by law or other agreement shall be
                cumulative and not exclusive of any other, and may be exercised by
                Laurus
                at any time and from time to time.

            

    

     

    
      	15.  	
              Waiver
                of Jury Trial.
                EACH OF THE UNDERSIGNED DOES HEREBY KNOWINGLY, VOLUNTARILY AND
                INTENTIONALLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING
                BASED ON OR WITH RESPECT TO THIS AMENDED AND RESTATED GUARANTY OR
                ANY OF
                THE TRANSACTIONS CONTEMPLATED HEREBY OR RELATING OR INCIDENTAL HERETO.
                THE
                UNDERSIGNED DOES HEREBY CERTIFY THAT NO REPRESENTATIVE OR AGENT OF
                LAURUS
                HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT LAURUS WOULD NOT, IN
                THE
                EVENT OF LITIGATION, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY
                TRIAL
                PROVISION. 

            

    

     

    
      	16.  	
              Governing
                Law; Jurisdiction; Amendments.
                THIS INSTRUMENT CANNOT BE CHANGED OR TERMINATED ORALLY, AND SHALL
                BE
                GOVERNED, CONSTRUED AND INTERPRETED AS TO VALIDITY, ENFORCEMENT AND
                IN ALL
                OTHER RESPECTS IN ACCORDANCE WITH THE LAWS OF THE PROVINCE OF ONTARIO
                AND
                THE FEDERAL LAWS OF CANADA. EACH OF THE UNDERSIGNED EXPRESSLY CONSENTS
                TO
                THE JURISDICTION AND VENUE OF THE SUPREME COURT OF THE STATE OF NEW
                YORK,
                COUNTY OF NEW YORK, AND OF THE UNITED STATES DISTRICT COURT FOR THE
                SOUTHERN DISTRICT OF NEW YORK FOR ALL PURPOSES IN CONNECTION HEREWITH.
                ANY
                JUDICIAL PROCEEDING BY THE UNDERSIGNED AGAINST LAURUS INVOLVING,
                DIRECTLY
                OR INDIRECTLY ANY MATTER OR CLAIM IN ANY WAY ARISING OUT OF, RELATED
                TO OR
                CONNECTED HEREWITH SHALL BE BROUGHT ONLY IN THE SUPREME COURT OF
                THE STATE
                OF NEW YORK, COUNTY OF NEW YORK OR THE UNITED STATES DISTRICT COURT
                FOR
                THE SOUTHERN DISTRICT OF NEW YORK. THE UNDERSIGNED FURTHER CONSENTS
                THAT
                ANY SUMMONS, SUBPOENA OR OTHER PROCESS OR PAPERS (INCLUDING, WITHOUT
                LIMITATION, ANY NOTICE OR MOTION OR OTHER APPLICATION TO EITHER OF
                THE
                AFOREMENTIONED COURTS OR A JUDGE THEREOF) OR ANY NOTICE IN CONNECTION
                WITH
                ANY PROCEEDINGS HEREUNDER, MAY BE SERVED INSIDE OR OUTSIDE OF THE
                STATE OF
                NEW YORK OR THE SOUTHERN DISTRICT OF NEW YORK BY REGISTERED OR CERTIFIED
                MAIL, RETURN RECEIPT REQUESTED, OR BY PERSONAL SERVICE PROVIDED A
                REASONABLE TIME FOR APPEARANCE IS PERMITTED, OR IN SUCH OTHER MANNER
                AS
                MAY BE PERMISSIBLE UNDER THE RULES OF SAID COURTS. EACH OF THE UNDERSIGNED
                WAIVES ANY OBJECTION TO JURISDICTION AND VENUE OF ANY ACTION INSTITUTED
                HEREON AND SHALL NOT ASSERT ANY DEFENSE BASED ON LACK OF JURISDICTION
                OR
                VENUE OR BASED UPON FORUM NON
                CONVENIENS.

            

    

     

    
      
        
        

      

      
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      	17.  	
              Judgment
                Currency.
                If, for the purpose of obtaining or enforcing judgment against any
                Guarantor in any court in any jurisdiction, it becomes necessary
                to
                convert into any other currency (such other currency being hereinafter
                in
                this section referred to as the “Judgment
                Currency”)
                an amount due under this Amended and Restated Guaranty in any currency
                (the “Obligation
                Currency”)
                other than the Judgment Currency, the conversion shall be made at
                the rate
                of exchange prevailing on the business day immediately preceding
                (a) the date of actual payment of the amount due, in the case of any
                proceeding in the courts of New York or in the courts of any other
                jurisdiction that will give effect to such conversion being made
                on such
                date, or (b) the date on which the foreign court determines, in the
                case of any proceeding in the courts of any other jurisdiction (the
                applicable date as of which such conversion is made pursuant to this
                section being hereinafter in this section referred to as the “Judgment
                Conversion Date”).

            

    

     

    If,
      in
      the case of any proceeding in the court of any jurisdiction referred to in
      the
      preceding paragraph, there is a change in the rate of exchange prevailing
      between the Judgment Conversion Date and the date of actual receipt of the
      amount due in immediately available funds, the Guarantor shall pay such
      additional amount (if any, but in any event not a lesser amount) as may be
      necessary to ensure that the amount actually received in the Judgment Currency,
      when converted at the rate of exchange prevailing on the date of payment, will
      produce the amount of the Obligation Currency which could have been purchased
      with the amount of the Judgment Currency stipulated in the judgment or judicial
      order at the rate of exchange prevailing on the Judgment Conversion Date. Any
      amount due from any Guarantor under this section shall be due as a separate
      debt
      and shall not be affected by judgment being obtained for any other amounts
      due
      under or in respect of this Amended and Restated Guaranty.

     

    
      	18.  	
              Severability.
                To the extent permitted by applicable law, any provision of this
                Amended
                and Restated Guaranty which is prohibited or unenforceable in any
                jurisdiction shall, as to such jurisdiction, be ineffective to the
                extent
                of such prohibition or unenforceability without invalidating the
                remaining
                provisions hereof, and any such prohibition or unenforceability in
                any
                jurisdiction shall not invalidate or render unenforceable such provision
                in any other jurisdiction.

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	19.  	
              Amendments,
                Waivers.
                No amendment or waiver of any provision of this Amended and Restated
                Guaranty nor consent to any departure by the undersigned therefrom
                shall
                in any event be effective unless the same shall be in writing executed
                by
                each of the undersigned directly affected by such amendment and/or
                waiver
                and Laurus.

            

    

     

    
      	20.  	
              Notice.
                All notices, requests and demands to or upon the undersigned, shall
                be in
                writing and shall be deemed to have been duly given or made (a) when
                delivered, if by hand, (b) three (3) days after being sent, postage
                prepaid, if by registered or certified mail, (c) when confirmed
                electronically, if by facsimile, or (d) when delivered, if by a
                recognized overnight delivery service in each event, to the numbers
                and/or
                address set forth beneath the signature of the
                undersigned.

            

    

     

    
      	21.  	
              This
                Amended and Restated Guaranty may be executed in any number of
                counterparts which shall, collectively and separately constitute
                one
                agreement. Any signature delivered by a party by facsimile transmission
                or
                by sending a scanned copy by electronic mail shall be deemed an original
                signature hereto.

            

    

     

    
      	22.  	
              Successors.
                Laurus may, from time to time, without notice to the undersigned,
                sell,
                assign, transfer or otherwise dispose of all or any part of the
                Obligations and/or rights under this Amended and Restated Guaranty.
                Without limiting the generality of the foregoing, Laurus may assign,
                or
                grant participations to, one or more banks, financial institutions
                or
                other entities all or any part of any of the Obligations. In each
                such
                event, Laurus, its Affiliates and each and every immediate and successive
                purchaser, assignee, transferee or holder of all or any part of the
                Obligations shall have the right to enforce this Amended and Restated
                Guaranty, by legal action or otherwise, for its own benefit as fully
                as if
                such purchaser, assignee, transferee or holder were herein by name
                specifically given such right. Laurus shall have an unimpaired right
                to
                enforce this Amended and Restated Guaranty for its benefit with respect
                to
                that portion of the Obligations which Laurus has not disposed of,
                sold,
                assigned, or otherwise transferred.

            

    

     

    
      	23.  	
              It
                is understood and agreed that any person or entity that desires to
                become
                a Guarantor hereunder, or is required to execute a counterpart of
                this
                Amended and Restated Guaranty after the date hereof pursuant to the
                requirements of any of the 2005 Documents or 2006 Documents, shall
                become
                Guarantor hereunder by (x) executing a joinder agreement in form and
                substance satisfactory to Laurus, (y) delivering supplements to such
                exhibits and annexes to such 2005 Documents or 2006 Documents as
                Laurus
                shall reasonably request and (z) taking all actions as specified in
                this Amended and Restated Guaranty as would have been taken by such
                Guarantor had it been an original party to this Amended and Restated
                Guaranty, in each case with all documents required above to be delivered
                to Laurus and with all documents and actions required above to be
                taken to
                the reasonable satisfaction of
                Laurus.

            

    

     

    
      	24.  	
              Release.
                Nothing except cash payment in full of the Obligations shall release
                any
                of the undersigned from liability under this Amended and Restated
                Guaranty.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	25.  	
              Limitation
                of Obligations under this Amended and Restated Guaranty.
                Each Guarantor and Laurus (by its acceptance of the benefits of this
                Amended and Restated Guaranty) hereby confirms that it is its intention
                that this Amended and Restated Guaranty not constitute (i) a
                fraudulent transfer or conveyance for purposes of the Bankruptcy
                Code,
                the Uniform
                Fraudulent Conveyance Act
                or
                any similar federal, provincial or state law; or (ii) a preference or
                a preferential transfer for purposes of the BIA or under any other
                applicable bankruptcy, insolvency or similar law now or hereafter
                in
                effect in any bankruptcy, insolvency or similar proceeding with respect
                to
                the Debtors. To effectuate the foregoing intention, each Guarantor
                which
                is subject to the Bankruptcy
                Code,
                the Uniform
                Fraudulent Conveyance Act
                or
                any similar US federal or state law and Laurus (by its acceptance
                of the
                benefits of this Amended and Restated Guaranty) hereby irrevocably
                agrees
                that the Obligations guaranteed by such Guarantor shall be limited
                to such
                amount as will, after giving effect to such maximum amount and all
                other
                (contingent or otherwise) liabilities of such Guarantor that are
                relevant
                under such laws and after giving effect to any rights to contribution
                pursuant to any agreement providing for an equitable contribution
                among
                such Guarantor and the other Guarantors (including this Amended and
                Restated Guaranty), result in the Obligations of such Guarantor under
                this
                Amended and Restated Guaranty in respect of such maximum amount not
                constituting a fraudulent transfer or conveyance, preference or
                preferential transfer. 

            

    

     

    
      	26.  	
              Understanding
                With Respect to Waivers and Consents.
                Each Guarantor warrants and agrees that each of the waivers and consents
                set forth in this Amended and Restated Guaranty is made voluntarily
                and
                unconditionally after consultation with outside legal counsel and
                with
                full knowledge of its significance and consequences, with the
                understanding that events giving rise to any defense or right waived
                may
                diminish, destroy or otherwise adversely affect rights which such
                Guarantor otherwise may have against the Debtors, Laurus or any other
                person or entity or against any collateral. If, notwithstanding the
                intent
                of the parties that the terms of this Amended and Restated Guaranty
                shall
                control in any and all circumstances, any such waivers or consents
                are
                determined to be unenforceable under applicable law, such waivers
                and
                consents shall be effective to the maximum extent permitted by
                law.

            

    

     

    
      	27.  	
              Remedies
                Not Exclusive.
                The remedies conferred upon Laurus in this Amended and Restated Guaranty
                are intended to be in addition to, and not in limitation of any other
                remedy or remedies available to Laurus under applicable law or
                otherwise.

            

    

     

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        11

        
          

        

      

      
        
        

      

       

    

    IN
      WITNESS WHEREOF, this Amended and Restated Guaranty has been executed by the
      undersigned this 13th day of February, 2006.

     

    

     

    
      	 	 	
              CREATIVE
                VISTAS, INC. (Arizona)

               

            
	 	 	
              By:

            	
              /s/
                DOMINIC BURNS

            
	 	 	 	
              Name:
                Dominic Burns

              Title:
                President 

              Address:
                2100 Forbes Street, Units 8-10, Whitby, Ontario L1N 9T3

            
	 	 	
               

              CANCABLE
                HOLDING CORP. (Delaware)

               

            
	 	 	
              By:

            	
              /s/
                DOMINIC BURNS

            
	 	 	 	
              Name:
                Dominic Burns

              Title:
                President 

              Address:
                2100 Forbes Street, Units 8-10, Whitby, Ontario L1N 9T3

            
	 	 	
               

              CANCABLE,
                INC. (Nevada)

               

            
	 	 	
              By:

            	
              /s/
                ROSS JEPSON

            
	 	 	 	
              Name:
                Ross Jepson

              Title:
                President and Secretary

              Address:
                2321 Fairview Street, Suite 100, Burlington, Ontario L7R
                2E3

            
	 	 	
               

              CREATIVE
                VISTAS ACQUISITION CORP. (Ontario)

               

            
	 	 	
              By:

            	
              /s/
                SAYAN NAVARATNAM

            
	 	 	 	
              Name:
                Sayan Navaratnam

              Title:
                President and Secretary

              Address:
                2100 Forbes Street, Units 8-10, Whitby, Ontario L1N 9T3

            
	 	 	
               

              A.C.
                TECHNICAL SYSTEMS LTD. (Ontario)

               

            
	 	 	
              By:

            	
              /s/
                DOMINIC BURNS

            
	 	 	 	
              Name:
                Dominic Burns

              Title:
                President 

              Address:
                2100 Forbes Street, Units 8-10, Whitby, Ontario L1N
                9T3

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	 	 	
              CANCABLE
                INC. (Ontario)

               

            
	 	 	
              By:

            	
              /s/
                HEUNG HUNG LEE

            
	 	 	 	
              Name:
                Heung Hung Lee

              Title:
                Secretary

              Address:
                2100 Forbes Street, Units 8-10, Whitby, Ontario L1N 9T3

            
	 	 	
               

              IVIEW
                HOLDING CORP. (Delaware)

               

            
	 	 	
              By:

            	
              /s/
                DOMINIC BURNS

            
	 	 	 	
              Name:
                Dominic Burns

              Title:
                President 

              Address:
                2100 Forbes Street, Units 8-10, Whitby, Ontario L1N 9T3

            
	 	 	
               

              IVIEW
                DIGITAL VIDEO SOLUTIONS INC.

               

            
	 	 	
              By:

            	
              /s/
                SAYAN NAVARATNAM

            
	 	 	 	
              Name:
                Sayan Navaratnam

              Title:
                President

              Address:
                2100 Forbes Street, Units 8-10, Whitby, Ontario L1N
                9T3

            

    

    

     

    
      
        
        

      

      
        13

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