Document:

Exhibit
        4.6

      

        NEITHER
          THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES
          HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
          SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
          REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
          ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO
          AN
          EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
          AN
          AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
          REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
          SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
          TO
          SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
          COMPANY. THESE SECURITIES AND THE SECURITIES ISSUABLE UPON EXERCISE OF
          THESE
          SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
          SECURED
          BY SUCH SECURITIES. 

         

         

        INTRA-ASIA
          ENTERTAINMENT CORPORATION

         

         

        COMMON
          STOCK PURCHASE WARRANT

         

         

        
          	Warrant No. 1	
                  Original
                    Issue Date: May 14,
                    2007

                

        

        
 

        Intra-Asia
          Entertainment Corporation,
          a
          Nevada corporation (the “Company”),
          hereby
          certifies that, for value received, Antaeus Capital, Inc. or its registered
          assigns (the “Holder”),
          is
          entitled to purchase from the Company up to a total of 2,083,333 shares
          of
          Common Stock (each such share, a “Warrant
          Share”
          and all
          such shares, the “Warrant
          Shares”),
          at any
          time and from time to time from and after the Original Issue Date and through
          and including May 13, 2014 (the “Expiration
          Date”),
          and
          subject to the following terms and conditions:

         

        1.  Definitions.
          As used
          in this Warrant, the following terms shall have the respective definitions
          set
          forth in this Section 1. Capitalized terms that are used and not defined
          in this
          Warrant that are defined in the Purchase Agreement (as defined below) shall
          have
          the respective definitions set forth in the Purchase Agreement.

         

        “Common
          Stock”
          means
          the common stock of the Company, par value $0.001 per share, and any securities
          into which such common stock may hereafter be reclassified or for which
          it may
          be exchanged as a class. 

         

        “Exercise
          Price” means
          $0.24, subject to adjustment in accordance with Section 9.

         

        “Fundamental
          Transaction”
          means
          any of the following: (1) the Company effects any merger or consolidation
          of the
          Company with or into another Person, (2) the Company effects any sale of
          all or
          substantially all of its assets in one or a series of related transactions,
          (3)
          any tender offer or exchange offer (whether by the Company or another Person)
          is
          completed pursuant to which holders of Common Stock are permitted to tender
          or
          exchange their shares for other securities, cash or property, or (4) the
          Company
          effects any reclassification of the Common Stock or any compulsory share
          exchange pursuant to which the Common Stock is effectively converted into
          or
          exchanged for other securities, cash or property.

         

        
          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

        

         

        “New
          York Courts”
          means
          the state and federal courts sitting in the City of New York, Borough of
          Manhattan. 

         

        “Original
          Issue Date”
          means
          the Original Issue Date first set forth on the first page of this
          Warrant.

         

        “Purchase
          Agreement”
          means
          the Securities Purchase Agreement, dated May 14, 2007, among the Company
          and all
          predecessors thereto, Cabowise International Ltd., a British Virgin Islands
          company, PKU
          Chinafront High Technology Co., Ltd.,
          a
          company organized under the laws of the People’s Republic of China, the selling
          stockholders identified therein and the investors identified therein.

         

        “Trading
          Day”
          means
          (i) a day on which the Common Stock is traded on a Trading Market (other
          than
          the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a
          Trading
          Market (other than the OTC Bulletin Board), a day on which the Common Stock
          is
          traded in the over-the-counter market, as reported by the OTC Bulletin
          Board, or
          (iii) if the Common Stock is not quoted on any Trading Market, a day on
          which
          the Common Stock is quoted in the over-the-counter market as reported by
          the
          Pink Sheets LLC (or any similar organization or agency succeeding to its
          functions of reporting prices); provided, that in the event that the Common
          Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof,
          then
          Trading Day shall mean a Business Day.

         

        2.  Registration
          of Warrant.
          The
          Company shall register this Warrant upon records to be maintained by the
          Company
          for that purpose (the “Warrant
          Register”),
          in the
          name of the record Holder hereof from time to time. The Company may deem
          and
          treat the registered Holder of this Warrant as the absolute owner hereof
          for the
          purpose of any exercise hereof or any distribution to the Holder, and for
          all
          other purposes, absent actual notice to the contrary.

         

        3.  Registration
          of Transfers.
          The
          Company shall register the transfer of any portion of this Warrant in the
          Warrant Register, upon surrender of this Warrant, with the Form of Assignment
          attached hereto duly completed and signed, to the Company at its address
          specified herein. Upon any such registration or transfer, a new Warrant
          to
          purchase Common Stock, in substantially the form of this Warrant (any such
          new
          Warrant, a "New
          Warrant"),
          evidencing the portion of this Warrant so transferred shall be issued to
          the
          transferee and a New Warrant evidencing the remaining portion of this Warrant
          not so transferred, if any, shall be issued to the transferring Holder.
          The
          acceptance of the New Warrant by the transferee thereof shall be deemed
          the
          acceptance by such transferee of all of the rights and obligations of a
          holder
          of a Warrant. 

         

        4.  Exercise
          and Duration of Warrants.
          This
          Warrant shall be exercisable by the registered Holder at any time and from
          time
          to time on or after the Original Issue Date through and including the Expiration
          Date. At 6:30 p.m., New York City time on the Expiration Date, the portion
          of
          this Warrant not exercised prior thereto shall be and become void and of
          no
          value. The Company may not call or redeem any portion of this Warrant without
          the prior written consent of the affected Holder. 

         

        
          
            
              
              

            

            
              2

              
                

              

            

            
              
              

            

          

        

         

        5.  Delivery
          of Warrant Shares.

         

        (a)  The
          Holder shall not be required to physically surrender this Warrant unless
          the
          aggregate Warrant Shares represented by this Warrant are being exercised.
          To
          effect exercises hereunder, the Holder shall duly execute and deliver to
          the
          Company at its address for notice set forth herein (or such to such other
          address as the Company may designate by notice in writing to the Holder),
          an
          Exercise Notice in the form of Annex
          A
          hereto,
          along with a Warrant Shares Exercise Log in the form of Annex
          B
          hereto,
          and shall pay the Exercise Price, if applicable, multiplied by the number
          of
          Warrant Shares that the Holder intends to purchase hereunder. The Company
          shall
          promptly (but in no event later than three Trading Days after the Date
          of
          Exercise (as defined herein)) issue and deliver to the Holder, a certificate
          for
          the Warrant Shares issuable upon such exercise. The Company shall, upon
          request
          of the Holder and subsequent to the date on which a registration statement
          covering the resale of the Warrant Shares has been declared effective by
          the
          Securities and Exchange Commission, use its reasonable best efforts to
          deliver
          Warrant Shares hereunder electronically through the Depository Trust Corporation
          or another established clearing corporation performing similar functions,
          if
          available, provided,
          that,
          the Company may, but will not be required to change its transfer agent
          if its
          current transfer agent cannot deliver Warrant Shares electronically through
          the
          Depository Trust Corporation. A “Date
          of Exercise”
          for
          purposes of this Warrant, means the date on which the Holder shall have
          delivered to the Company: (i) the Exercise Notice (with the Warrant Exercise
          Log
          attached to it), appropriately completed and duly signed and (ii) if such
          Holder
          is not utilizing the cashless exercise provisions set forth in this Warrant,
          payment of the Exercise Price for the number of Warrant Shares so indicated
          by
          the Holder to be purchased.

         

        (b)  If
          by the
          third Trading Day after a Date of Exercise the Company fails to deliver
          the
          required number of Warrant Shares in the manner required pursuant to Section
          5(a), then the Holder will have the right to rescind such exercise.

         

        (c)  If
          by the
          third Trading Day after a Date of Exercise the Company fails to deliver
          the
          required number of Warrant Shares in the manner required pursuant to Section
          5(a), and if after such third Trading Day and prior to the receipt of such
          Warrant Shares, the Holder purchases (in an open market transaction or
          otherwise) shares of Common Stock to deliver in satisfaction of a sale
          by the
          Holder of the Warrant Shares which the Holder anticipated receiving upon
          such
          exercise (a “Buy-In”),
          then
          the Company shall (1) pay in cash to the Holder the amount by which (x)
          the
          Holder's total purchase price (including brokerage commissions, if any)
          for the
          shares of Common Stock so purchased exceeds (y) the amount obtained by
          multiplying (A) the number of Warrant Shares that the Company was required
          to
          deliver to the Holder in connection with the exercise at issue by (B) the
          closing bid price of the Common Stock on the Date of Exercise and (2) at
          the
          option of the Holder, either reinstate the portion of the Warrant and equivalent
          number of Warrant Shares for which such exercise was not honored or deliver
          to
          the Holder the number of shares of Common Stock that would have been issued
          had
          the Company timely complied with its exercise and delivery obligations
          hereunder. The Holder shall provide the Company written notice indicating
          the
          amounts payable to the Holder in respect of the Buy-In. 

         

        
          
            
            

          

          
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        (d)  The
          Company's obligations to issue and deliver Warrant Shares in accordance
          with the
          terms hereof are absolute and unconditional, irrespective of any action
          or
          inaction by the Holder to enforce the same, any waiver or consent with
          respect
          to any provision hereof, the recovery of any judgment against any Person
          or any
          action to enforce the same, or any setoff, counterclaim, recoupment, limitation
          or termination, or any breach or alleged breach by the Holder or any other
          Person of any obligation to the Company or any violation or alleged violation
          of
          law by the Holder or any other Person, and irrespective of any other
          circumstance which might otherwise limit such obligation of the Company
          to the
          Holder in connection with the issuance of Warrant Shares. Nothing herein
          shall
          limit a Holder's right to pursue any other remedies available to it hereunder,
          at law or in equity including, without limitation, a decree of specific
          performance and/or injunctive relief with respect to the Company's failure
          to
          timely deliver certificates representing Warrant Shares upon exercise of
          the
          Warrant as required pursuant to the terms hereof.

         

        6.  Charges,
          Taxes and Expenses.
          Issuance and delivery of Warrant Shares upon exercise of this Warrant shall
          be
          made without charge to the Holder for any issue or transfer tax, withholding
          tax, transfer agent fee or other incidental tax or expense in respect of
          the
          issuance of such certificates, all of which taxes and expenses shall be
          paid by
          the Company; provided,
          however, that the Company shall not be required to pay any tax which may
          be
          payable in respect of any transfer involved in the registration of any
          certificates for Warrant Shares or Warrants in a name other than that of
          the
          Holder. The Holder shall be responsible for all other tax liability that
          may
          arise as a result of holding or transferring this Warrant or receiving
          Warrant
          Shares upon exercise hereof.

         

        7.  Replacement
          of Warrant.
          If this
          Warrant is mutilated, lost, stolen or destroyed, the Company shall issue
          or
          cause to be issued in exchange and substitution for and upon cancellation
          hereof, or in lieu of and substitution for this Warrant, a New Warrant,
          but only
          upon receipt of evidence reasonably satisfactory to the Company of such
          loss,
          theft or destruction and customary and reasonable indemnity (which shall
          not
          include a surety bond), if requested. Applicants for a New Warrant under
          such
          circumstances shall also comply with such other reasonable regulations
          and
          procedures and pay such other reasonable third-party costs as the Company
          may
          prescribe. If a New Warrant is requested as a result of a mutilation of
          this
          Warrant, then the Holder shall deliver such mutilated Warrant to the Company
          as
          a condition precedent to the Company’s obligation to issue the New
          Warrant.

         

        8.  Reservation
          of Warrant Shares.
          The
          Company covenants that during the term that this Warrant is exercisable,
          the
          Company will at all times reserve and keep available out of the aggregate
          of its
          authorized but unissued and otherwise unreserved Common Stock, solely for the
          purpose of enabling it to issue Warrant Shares upon exercise of this Warrant
          as
          herein provided, the number of Warrant Shares which are then issuable and
          deliverable upon the exercise of this entire Warrant, free from preemptive
          rights or any other contingent purchase rights of Persons other than the
          Holder
          (taking into account the adjustments and restrictions of Section 9). The
          Company
          covenants that all Warrant Shares so issuable and deliverable shall, upon
          issuance and the payment of the applicable Exercise Price in accordance
          with the
          terms hereof, be duly and validly authorized, issued and fully paid and
          nonassessable.

         

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

         

        9.  Certain
          Adjustments.
          The
          Exercise Price and number of Warrant Shares issuable upon exercise of this
          Warrant are subject to adjustment from time to time as set forth in this
          Section
          9.

         

        (a)  Stock
          Dividends and Splits.
          If the
          Company, at any time while this Warrant is outstanding, (i) pays a stock
          dividend on its Common Stock or otherwise makes a distribution on any class
          of
          capital stock that is payable in shares of Common Stock, (ii) subdivides
          outstanding shares of Common Stock into a larger number of shares, or (iii)
          combines outstanding shares of Common Stock into a smaller number of shares,
          then in each such case the Exercise Price shall be multiplied by a fraction
          of
          which the numerator shall be the number of shares of Common Stock outstanding
          immediately before such event and of which the denominator shall be the
          number
          of shares of Common Stock outstanding immediately after such event. Any
          adjustment made pursuant to clause (i) of this paragraph shall become effective
          immediately after the record date for the determination of stockholders
          entitled
          to receive such dividend or distribution, and any adjustment pursuant to
          clause
          (ii) or (iii) of this paragraph shall become effective immediately after
          the
          effective date of such subdivision or combination.

         

        (b)  Fundamental
          Transactions.
          If, at
          any time while this Warrant is outstanding there is a Fundamental Transaction,
          then the Holder shall have the right thereafter to receive, upon exercise
          of
          this Warrant, the same amount and kind of securities, cash or property
          as it
          would have been entitled to receive upon the occurrence of such Fundamental
          Transaction if it had been, immediately prior to such Fundamental Transaction,
          the holder of the number of Warrant Shares then issuable upon exercise
          in full
          of this Warrant (the “Alternate
          Consideration”).
          For
          purposes of any such exercise, the determination of the Exercise Price
          shall be
          appropriately adjusted to apply to such Alternate Consideration based on
          the
          amount of Alternate Consideration issuable in respect of one share of Common
          Stock in such Fundamental Transaction, and the Company shall apportion
          the
          Exercise Price among the Alternate Consideration in a reasonable manner
          reflecting the relative value of any different components of the Alternate
          Consideration. If holders of Common Stock are given any choice as to the
          securities, cash or property to be received in a Fundamental Transaction,
          then
          the Holder shall be given the same choice as to the Alternate Consideration
          it
          receives upon any exercise of this Warrant following such Fundamental
          Transaction. At the Holder's option and request, any successor to the Company
          or
          surviving entity in such Fundamental Transaction shall issue to the Holder
          a new
          warrant substantially in the form of this Warrant and consistent with the
          foregoing provisions and evidencing the Holder's right to purchase the
          Alternate
          Consideration for the aggregate Exercise Price upon exercise thereof. The
          terms
          of any agreement pursuant to which a Fundamental Transaction is effected
          shall
          include terms requiring any such successor or surviving entity to comply
          with
          the provisions of this paragraph (b) and insuring that the Warrant (or
          any such
          replacement security) will be similarly adjusted upon any subsequent transaction
          analogous to a Fundamental Transaction.

         

        (c)  Number
          of Warrant Shares.
          Simultaneously with any adjustment to the Exercise Price pursuant to this
          Section 9, the number of Warrant Shares that may be purchased upon exercise
          of
          this Warrant shall be increased or decreased proportionately, so that after
          such
          adjustment the aggregate Exercise Price payable hereunder for the adjusted
          number of Warrant Shares shall be the same as the aggregate Exercise Price
          in
          effect immediately prior to such adjustment.

         

        
          
            
            

          

          
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        (d)  Calculations.
          All
          calculations under this Section 9 shall be made to the nearest cent or
          the
          nearest 1/100th
          of a
          share, as applicable. The number of shares of Common Stock outstanding
          at any
          given time shall not include shares owned or held by or for the account
          of the
          Company, and the disposition of any such shares shall be considered an
          issue or
          sale of Common Stock.

         

        (e)  Notice
          of Adjustments.
          Upon
          the occurrence of each adjustment pursuant to this Section 9, the Company
          at its
          expense will promptly compute such adjustment in accordance with the terms
          of
          this Warrant and prepare a certificate setting forth such adjustment, including
          a statement of the adjusted Exercise Price and adjusted number or type
          of
          Warrant Shares or other securities issuable upon exercise of this Warrant
          (as
          applicable), describing the transactions giving rise to such adjustments
          and
          showing in detail the facts upon which such adjustment is based. Upon written
          request, the Company will promptly deliver a copy of each such certificate
          to
          the Holder and to the Company's Transfer Agent.

         

        (f)  Notice
          of Corporate Events.
          If the
          Company (i) declares a dividend or any other distribution of cash, securities
          or
          other property in respect of its Common Stock, including without limitation
          any
          granting of rights or warrants to subscribe for or purchase any capital
          stock of
          the Company or any Subsidiary, except for grants of options to management
          (ii)
          authorizes or approves, enters into any agreement contemplating or solicits
          stockholder approval for any Fundamental Transaction or (iii) authorizes
          the
          voluntary dissolution, liquidation or winding up of the affairs of the
          Company,
          then the Company shall deliver to the Holder a notice describing the material
          terms and conditions of such transaction (but only to the extent such disclosure
          would not result in the dissemination of material, non-public information
          to the
          Holder) at least 10 calendar days prior to the applicable record or effective
          date on which a Person would need to hold Common Stock in order to participate
          in or vote with respect to such transaction, and the Company will take
          all steps
          reasonably necessary in order to insure that the Holder is given the practical
          opportunity to exercise this Warrant prior to such time so as to participate
          in
          or vote with respect to such transaction; provided, however, that the failure
          to
          deliver such notice or any defect therein shall not affect the validity
          of the
          corporate action required to be described in such notice.

         

        10.  Payment
          of Exercise Price.
          The
          Holder may pay the Exercise Price in one of the following manners:

         

        (a)  Cash
          Exercise.
          The
          Holder may deliver immediately available funds; or

         

        (b)  Cashless
          Exercise.
          If an
          Exercise Notice is delivered at a time when a registration statement permitting
          the Holder to resell the Warrant Shares is not then effective or the prospectus
          forming a part thereof is not then available to the Holder for the resale
          of the
          Warrant Shares, then the Holder may notify the Company in an Exercise Notice
          of
          its election to utilize cashless exercise, in which event the Company shall
          issue to the Holder the number of Warrant Shares determined as
          follows:

         

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

         

        X
          = Y
          [(A-B)/A]

         

        where:

         

        X
          = the
          number of Warrant Shares to be issued to the Holder.

         

        Y
          = the
          number of Warrant Shares with respect to which this Warrant is being
          exercised.

         

        A
          = the
          average of the closing prices for the five Trading Days immediately prior
          to
          (but not including) the Date of Exercise.

         

        B
          = the
          Exercise Price.

         

        For
          purposes of Rule 144 promulgated under the Securities Act, it is intended,
          understood and acknowledged that the Warrant Shares issued in a cashless
          exercise transaction shall be deemed to have been acquired by the Holder,
          and
          the holding period for the Warrant Shares shall be deemed to have commenced,
          on
          the date this Warrant was originally issued.

         

        11.  Limitations
          on Exercise.
          Notwithstanding anything to the contrary contained herein, the number of
          Warrant
          Shares that may be acquired by the Holder upon any exercise of this Warrant
          (or
          otherwise in respect hereof) shall be limited to the extent necessary to
          insure
          that, following such exercise (or other issuance), the total number of
          shares of
          Common Stock then beneficially owned by such Holder and its Affiliates
          and any
          other Persons whose beneficial ownership of Common Stock would be aggregated
          with the Holder's for purposes of Section 13(d) of the Exchange Act, does
          not
          exceed 9.99% of the total number of issued and outstanding shares of Common
          Stock (including for such purpose the shares of Common Stock issuable upon
          such
          exercise). For such purposes, beneficial ownership shall be determined
          in
          accordance with Section 13(d) of the Exchange Act and the rules and regulations
          promulgated thereunder. This provision shall not restrict the number of
          shares
          of Common Stock which a Holder may receive or beneficially own in order
          to
          determine the amount of securities or other consideration that such Holder
          may
          receive in the event of a Fundamental Transaction as contemplated in Section
          9
          of this Warrant. This restriction may not be waived, and notwithstanding
          anything to the contrary in any Transaction Document, may not be amended
          by
          agreement of the parties. Notwithstanding anything to the contrary contained
          in
          this Warrant or in any other Transaction Document, (a) no term of this
          Section
          may be waived by any party, nor amended such that the threshold percentage
          of
          ownership would be directly or indirectly increased, (b) no amendment or
          modification to any Transaction Document may be made such that it would
          have the
          effect of modifying or waiving any term of this Section in violation of
          this
          restriction, (c) this restriction runs with the Warrant and may not be
          modified
          or waived by any subsequent holder hereof and (d) any attempted waiver,
          modification or amendment of this Section will be void ab initio.

         

        12.  No
          Fractional Shares.
          No
          fractional shares of Warrant Shares will be issued in connection with any
          exercise of this Warrant. In lieu of any fractional shares which would,
          otherwise be issuable, the Company shall pay cash equal to the product
          of such
          fraction multiplied by the closing price of one Warrant Share as reported
          by the
          applicable Trading Market on the date of exercise.

         

        
          
            
            

          

          
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        13.  Notices.
          Any and
          all notices or other communications or deliveries hereunder (including,
          without
          limitation, any Exercise Notice) shall be in writing and shall be deemed
          given
          and effective on the earliest of (i) the date of transmission, if such
          notice or
          communication is delivered via facsimile at the facsimile number specified
          in
          this Section prior to 6:30 p.m. (New York City time) on a Trading Day,
          (ii) the
          next Trading Day after the date of transmission, if such notice or communication
          is delivered via facsimile at the facsimile number specified in this Section
          on
          a day that is not a Trading Day or later than 6:30 p.m. (New York City
          time) on
          any Trading Day, (iii) the second Trading Day following the date of mailing,
          if
          sent by nationally recognized overnight courier service, or (iv) upon actual
          receipt by the party to whom such notice is required to be given. The addresses
          for such communications shall be: (i) if to the Company, to Intra-Asia
          Entertainment Corporation, Attn: President, or to Facsimile No. (86) 10-62637657
          (or to such other address as the Company shall indicate in writing in accordance
          with this Section), with a copy to Lou Bevilacqua, Esq., Thelen Reid Brown
          Raysman & Steiner LLP, 701 Eighth Street, N.W., Washington, DC 20001,
          facsimile no.: (202) 654-1804, or (ii) if to the Holder, to the address
          or
          facsimile number appearing on the Warrant Register or such other address
          or
          facsimile number as the Holder may provide to the Company in accordance
          with
          this Section.

         

        14.  Warrant
          Agent.
          The
          Company shall serve as warrant agent under this Warrant. Upon 10 days'
          notice to
          the Holder, the Company may appoint a new warrant agent. Any corporation
          into
          which the Company or any new warrant agent may be merged or any corporation
          resulting from any consolidation to which the Company or any new warrant
          agent
          shall be a party or any corporation to which the Company or any new warrant
          agent transfers substantially all of its corporate trust or shareholders
          services business shall be a successor warrant agent under this Warrant
          without
          any further act. Any such successor warrant agent shall promptly cause
          notice of
          its succession as warrant agent to be mailed (by first class mail, postage
          prepaid) to the Holder at the Holder's last address as shown on the Warrant
          Register.

         

        15.  Miscellaneous.

         

        (a)  This
          Warrant shall be binding on and inure to the benefit of the parties hereto
          and
          their respective successors and assigns. Subject to the preceding sentence,
          nothing in this Warrant shall be construed to give to any Person other
          than the
          Company and the Holder any legal or equitable right, remedy or cause of
          action
          under this Warrant. This Warrant may be amended only in writing signed
          by the
          Company and the Holder and their successors and assigns.

         

        (b)  All
          questions concerning the construction, validity, enforcement and interpretation
          of this Warrant shall be governed by and construed and enforced in accordance
          with the internal laws of the State of New York (except for matters governed
          by
          corporate law in the State of Nevada), without regard to the principles
          of
          conflicts of law thereof. Each party agrees that all legal proceedings
          concerning the interpretations, enforcement and defense of this Warrant
          and the
          transactions herein contemplated (“Proceedings”)
          (whether brought against a party hereto or its respective Affiliates, employees
          or agents) shall be commenced exclusively in the New York Courts. Each
          party
          hereto hereby irrevocably submits to the exclusive jurisdiction of the
          New York
          Courts for the adjudication of any dispute hereunder or in connection herewith
          or with any transaction contemplated hereby or discussed herein, and hereby
          irrevocably waives, and agrees not to assert in any Proceeding, any claim
          that
          it is not personally subject to the jurisdiction of any New York Court,
          or that
          such Proceeding has been commenced in an improper or inconvenient forum.
          Each
          party hereto hereby irrevocably waives personal service of process and
          consents
          to process being served in any such Proceeding by mailing a copy thereof
          via
          registered or certified mail or overnight delivery (with evidence of delivery)
          to such party at the address in effect for notices to it under this Warrant
          and
          agrees that such service shall constitute good and sufficient service of
          process
          and notice thereof. Nothing contained herein shall be deemed to limit in
          any way
          any right to serve process in any manner permitted by law. Each party hereto
          hereby irrevocably waives, to the fullest extent permitted by applicable
          law,
          any and all right to trial by jury in any legal proceeding arising out
          of or
          relating to this Warrant or the transactions contemplated hereby. If either
          party shall commence a Proceeding to enforce any provisions of this Warrant,
          then the prevailing party in such Proceeding shall be reimbursed by the
          other
          party for its attorney’s fees and other costs and expenses incurred with the
          investigation, preparation and prosecution of such Proceeding.

         

        
          
            
            

          

          
            8

            
              

            

          

          
            
            

          

        

         

        (c)  The
          headings herein are for convenience only, do not constitute a part of this
          Warrant and shall not be deemed to limit or affect any of the provisions
          hereof.

         

        (d)  In
          case
          any one or more of the provisions of this Warrant shall be invalid or
          unenforceable in any respect, the validity and enforceability of the remaining
          terms and provisions of this Warrant shall not in any way be affected or
          impaired thereby and the parties will attempt in good faith to agree upon
          a
          valid and enforceable provision which shall be a commercially reasonable
          substitute therefor, and upon so agreeing, shall incorporate such substitute
          provision in this Warrant.

         

        (e)  Prior
          to
          exercise of this Warrant, the Holder hereof shall not, by reason of being
          a
          Holder, be entitled to any rights of a stockholder with respect to the
          Warrant
          Shares.

         

        [REMAINDER
          OF PAGE INTENTIONALLY LEFT BLANK,

        SIGNATURE
          PAGE FOLLOWS]

         

        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

        IN
          WITNESS WHEREOF, the Company has caused this Warrant to be duly executed
          by its
          authorized officer as of the date first indicated above.

         

        
          	 	 	 
	 	
                  INTRA-ASIA
                    ENTERTAINMENT CORPORATION

                
	 
 	 
 	 
 
	
                	By:  	/s/ Shudong
                  Xia 
	 	
                  

                  Name:
                    Shudong Xia 

                  Title:
                    President and Chief Executive Officer 

                
	 	
                

        

          

        

        

        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

        ANNEX
          A

         

        EXERCISE
          NOTICE

        INTRA-ASIA
          ENTERTAINMENT CORPORATION

        WARRANT
          DATED MAY 14, 2007

         

        

         

        The
          undersigned Holder hereby irrevocably elects to purchase _____________
          shares of
          Common Stock pursuant to the above referenced Warrant. Capitalized terms
          used
          herein and not otherwise defined have the respective meanings set forth
          in the
          Warrant.

         

        (1)  The
          undersigned Holder hereby exercises its right to purchase _________________
          Warrant Shares pursuant to the Warrant.

         

        (2)  The
          Holder intends that payment of the Exercise Price shall be made as (check
          one):

         

        ____“Cash
          Exercise” under Section 10

         

        ____“Cashless
          Exercise” under Section 10

         

        (3)  If
          the
          holder has elected a Cash Exercise, the holder shall pay the sum of
          $____________ to the Company in accordance with the terms of the
          Warrant.

         

        (4)  Pursuant
          to this Exercise Notice, the Company shall deliver to the holder _______________
          Warrant Shares in accordance with the terms of the Warrant.

         

        (5) By
          its
          delivery of this Exercise Notice, the undersigned represents and warrants
          to the
          Company that in giving effect to the exercise evidenced hereby the Holder
          will
          not beneficially own in excess of the number of shares of Common Stock
          (determined in accordance with Section 13(d) of the Securities Exchange
          Act of
          1934) permitted to be owned under Section 11 of this Warrant to which this
          notice relates.

        

        
          	 	 	 
	 	 	 
	
                  Dated:
                    _______________,
                    _______

                	 	
                  Name
                    of Holder:

                
	 	 	 
	 	 	
                  (Print)
                    ___________________________________

                
	 	 	 
	 	 	
                  By:______________________________________

                
	 	 	
                  Name:____________________________________

                
	 	 	
                  Title:_____________________________________

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

                

        

        

        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

         

        ANNEX
          B

         

        Warrant
          Shares Exercise Log

         

        
          	
                  Date

                	
                  Number
                    of Warrant Shares Available to be Exercised

                	
                  Number
                    of Warrant Shares Exercised

                	
                  Number
                    of Warrant Shares Remaining to be Exercised

                
	 	 	 	 

          
            
              
              

            

            
              12

              
                

              

            

            
              
              

            

          

        

         

        ANNEX
          C

         

        

          INTRA-ASIA
            ENTERTAINMENT CORPORATION.

        

        WARRANT
          ORIGINALLY ISSUED MAY 14, 2007

        WARRANT
          NO. 1

         

        FORM
          OF
          ASSIGNMENT

         

        [To
          be
          completed and signed only upon transfer of Warrant]

         

        FOR
          VALUE
          RECEIVED, the undersigned hereby sells, assigns and transfers unto
          ________________________________ the right represented by the above-captioned
          Warrant to purchase ____________ shares of Common Stock to which such Warrant
          relates and appoints ________________ attorney to transfer said right on
          the
          books of the Company with full power of substitution in the
          premises.

         

        Dated: _______________,
          ____

         

         

        _______________________________________

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

         

         

        _______________________________________

        Address
          of Transferee

         

         

        _______________________________________

         

        _______________________________________

         

        In
          the
          presence of:

         

         

        __________________________

         

        

        
          
            
            

          

          
            13Unassociated Document

    Exhibit
      10.1

    

      SECURITIES
        PURCHASE AGREEMENT

       

      This
        Securities Purchase Agreement (this “Agreement”)
        is
        dated as of May 14, 2007, by and among Intra-Asia Entertainment Corporation,
        a
        Nevada corporation, and all predecessors thereto (collectively, the “Company”),
        Cabowise International Ltd., a British Virgin Islands company (“Cabowise”),
        PKU
        Chinafront High Technology Co., Ltd.,
        a
        company organized under the laws of the People’s Republic of China
        (“PKU”),
        the
        selling stockholders identified on the signature pages hereto (each a
“Selling
        Stockholder”
and
        collectively, the “Selling
        Stockholders”)
        and the
        investors identified on the signature pages hereto (each, an “Investor”
        and
        collectively, the “Investors”).
        

       

      WHEREAS,
        the Company entered into a Share Exchange Agreement, dated May 14, 2007 (the
        “Exchange
        Agreement”),
        with
        Cabowise and certain other parties named therein, pursuant to which the Company
        will, subject to the terms and conditions thereof, acquire all of the equity
        interest of Cabowise, in exchange for 81,311,179 shares of Common Stock
        constituting 54.61% of the Common Stock of the Company on a fully diluted
        basis
        as of the time of the closing of the exchange under the Exchange Agreement
        and
        immediately prior to the Closing under this Agreement (the “Exchange”).
        

       

      WHEREAS,
        the closing of the Exchange is conditioned, among other things, on the
        concurrent consummation of the financing contemplated by this
        Agreement.

       

      WHEREAS,
        subject to the terms and conditions set forth in this Agreement and pursuant
        to
        exemptions from registration under the Securities Act (as defined below),
        the
        Company desires to issue and sell to each Investor and each Selling Stockholder
        desires to sell to each Investor, and each Investor, severally and not jointly,
        desires to purchase from the Company and each Selling Stockholder, shares
        of the
        Company’s Common Stock, as more fully described in this Agreement.

       

      NOW,
        THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement,
        and for other good and valuable consideration the receipt and adequacy of
        which
        are hereby acknowledged, the Company, the Selling Stockholders and the Investors
        agree as follows:

       

      ARTICLE
        1.

       

      DEFINITIONS

       

      1.1.  Definitions

       

      .
        In
        addition to the terms defined elsewhere in this Agreement, for all purposes
        of
        this Agreement, the following terms shall have the meanings indicated in
        this
        Section 1.1:

       

      “2007
        Annual
        Report”
        means
        the
        Annual Report on Form 10-KSB of the Company for the fiscal year ending December
        31, 2007, as filed with the Commission.

       

      “2007
        Guaranteed
        ATNI” has
        the
        meaning set forth in Section 4.11.

       

      “2007
        Make Good Shares” has
        the
        meaning set forth in Section 4.11.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      “2008
        Annual
        Report”
        means
        the
        Annual Report on Form 10-KSB of the Company for the fiscal year ending December
        31, 2008, as filed with the Commission.

       

      “2008
        Guaranteed
        ATNI” has
        the
        meaning set forth in Section 4.11.

       

      “2008
        Guaranteed
        EPS” has
        the
        meaning set forth in Section 4.11.

       

      “2008
        Make Good Shares” has
        the
        meaning set forth in Section 4.11. 

       

      “Action”
        means
        any action, suit, inquiry, notice of violation, proceeding (including any
        partial proceeding such as a deposition) or investigation pending or threatened
        in writing against or affecting the Company, any Subsidiary or any of their
        respective properties before or by any court, arbitrator, governmental or
        administrative agency, regulatory authority (federal, state, county, local
        or
        foreign), stock market, stock exchange or trading facility.

       

      “Affiliate”
        means
        any Person that, directly or indirectly through one or more intermediaries,
        controls or is controlled by or is under common control with a Person, as
        such
        terms are used in and construed under Rule 144.

       

      “Available
        Undersubscription Amount”
        has the
        meaning set forth in Section 4.14(c).

       

      “Basic
        Amount”
has
        the
        meaning set forth in Section 4.14(b).

       

      “Business
        Day”
        means
        any day except Saturday, Sunday and any day which is a federal legal holiday
        or
        a day on which banking institutions in the State of New York, the State of
        Nevada or Beijing, PRC are authorized or required by law or other governmental
        action to close.

       

      “Buy-In”
        has
        the
        meaning set forth in Section 4.1(c).

       

      “Cabowise”
        has the
        meaning set forth in the recitals to this Agreement.

       

      “Cancellation
        Agreement”
has
        the
        meaning set forth in Section 5.1(k).

       

      “Closing”
        means
        the closing of the purchase and sale of the Securities pursuant to Article
        II.

       

      “Closing
        Date”
        means
        the Business Day on which all of the conditions set forth in Sections 5.1
        and
        5.2 hereof are satisfied, or such other date as the parties may
        agree.

       

      "Closing
        Escrow Agreement"
        means
        the Closing Escrow Agreement, dated as of the date hereof, between the Company,
        the Selling Stockholders, Antaeus Capital, Inc., as placement agent and the
        escrow agent (the “Escrow
        Agent”)
        identified therein, in the form of Exhibit
        A
        hereto. 

       

      “Commission”
        means
        the Securities and Exchange Commission.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      “Common
        Stock”
        means
        the common stock of the Company, par value $0.001 per share, and any securities
        into which such common stock may hereafter be reclassified or for which it
        may
        be exchanged as a class.

       

      “Common
        Stock Equivalents”
        means
        any securities of the Company or any Subsidiary which entitle the holder
        thereof
        to acquire Common Stock at any time, including without limitation, any debt,
        preferred stock, rights, options, warrants or other instrument that is at
        any
        time convertible into or exchangeable for, or otherwise entitles the holder
        thereof to receive, Common Stock or other securities that entitle the holder
        to
        receive, directly or indirectly, Common Stock.

       

      “Company
        Counsel”
        means
        Thelen Reid Brown Raysman and Steiner LLP.

       

      “Company
        Deliverables”
        has the
        meaning set forth in Section 2.2(a).

       

      “Disclosure
        Materials”
        has the
        meaning set forth in Section 3.1(h).

       

      “Effective
        Date”
        means
        the date that the Registration Statement required by Section 2(a) of the
        Registration Rights Agreement is first declared effective by the
        Commission.

       

      “Escrow
        Amount”
has
        the
        meaning set forth in Section 4.7(e).

       

      “Escrow
        Holdback Agreement”
has
        the
        meaning set forth in Section 4.7(e).

       

      “Evaluation
        Date” has
        the
        meaning set forth in Section 3.1(s).

       

      “Exchange”
        has the
        meaning set forth in the recitals to this Agreement.

       

      “Exchange
        Act”
        means
        the Securities Exchange Act of 1934, as amended.

       

      “Exchange
        Agreement”
        has the
        meaning set forth in the recitals to this Agreement.

       

      “Exempt
        Issuance”
means
        the issuance of (a) shares of Common Stock or options to employees, officers,
        directors or consultants of the Company pursuant to any stock or option plan
        duly adopted by the Board of Directors of the Company or a majority of the
        members of a committee of directors established for such purpose, (b) securities
        upon the exercise or exchange of or conversion of any Securities issued
        hereunder or to any placement agents in connection with the transactions
        contemplated hereby and/or securities exercisable or exchangeable for or
        convertible into shares of Common Stock issued and outstanding on the date
        of
        this Agreement, provided that such securities have not been amended since
        the
        date of this Agreement to increase the number of such securities or to decrease
        the exercise, exchange or conversion price of any such securities, and (c)
        securities issued pursuant to acquisitions or strategic transactions, provided
        any such issuance shall only be to a Person which is, itself or through its
        subsidiaries, an operating company in a business synergistic with the business
        of the Company and in which the Company receives benefits in addition to
        the
        investment of funds, but shall not include a transaction in which the Company
        is
        issuing securities primarily for the purpose of raising capital or to an
        entity
        whose primary business is investing in securities. 

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      “Foster”
has
        the
        meaning set forth in Section 5.1(k).

       

      “GAAP”
        means
        U.S. generally accepted accounting principles.

       

      “Intellectual
        Property Rights”
        has the
        meaning set forth in Section 3.1(p).

       

      “Interest”
        has
        the
        meaning set forth in Section 5.1(i).

       

      “Investment
        Amount”
        means,
        with respect to each Investor, the Investment Amount indicated on such
        Investor’s signature page to this Agreement.

       

      “Investor
        Deliverables”
        has the
        meaning set forth in Section 2.2(b).

       

      “Investor
        Party”
        has the
        meaning set forth in Section 4.7.

       

      “Lien”
        means
        any lien, charge, encumbrance, security interest, right of first refusal,
        right
        of participation or other restrictions of any kind.

       

      “Lockup
        Agreement”
        means
        the Lockup Agreement, dated as of the date hereof, by and between the Company
        and each executive officer and director of the Company, including, without
        limitation, Shudong Xia, Mao Pan, Zhiping Zhang, Zhibin Lai, Danxia Huang
        and
        Chuang Yang, in the form attached as Exhibit
        B
        hereto.

       

      “Losses”
        means
        any loss, liability, obligation, claim, contingency, damage, cost or expense,
        including all judgments, amounts paid in settlements, court costs and reasonable
        attorneys’ fees and costs of investigation related thereto.

       

      “Make
        Good Escrow Agreement” means
        the
        Make Good Escrow Agreement, dated as of the date hereof, among the Company,
        Antaeus Capital, Inc., as agent, the escrow agent identified therein (the
        “Make
        Good Escrow Agent”),
        the
        Make Good Pledgors and the Investors, in the form of Exhibit
        C
        hereto.

       

      “Make
        Good Pledgor” means,
        individually, each of Karmen Investment Holdings Ltd. and Leguna Verde
        Investments Ltd.

       

      “Make
        Good Pledgors” means,
        collectively, Karmen Investment Holdings Ltd. and Leguna Verde Investments
        Ltd.

       

      “Material
        Adverse Effect”
        means
        any of (i) a material and adverse effect on the legality, validity or
        enforceability of any Transaction Document, (ii) a material and adverse effect
        on the results of operations, assets, prospects, business or condition
        (financial or otherwise) of the Company and the Subsidiaries, taken as a
        whole,
        or (iii) an adverse impairment to the Company’s ability to perform on a timely
        basis its obligations under any Transaction Document.

       

      “Money
        Laundering Laws”
has
        the
        meaning set forth in Section 3.1(gg).

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      “New
        York Courts”
        means
        the state and federal courts sitting in the City of New York, Borough of
        Manhattan.

       

      “Notice
        of Acceptance”
        has the
        meaning set forth in Section 4.14(c).

       

      “OFAC”
        has the
        meaning set forth in Section 3.1(ff).

       

      “Offer”
has
        the
        meaning set forth in Section 4.14(b).

       

      “Offer
        Notice”
has
        the
        meaning set forth in Section 4.14(b).

       

      “Offer
        Period”
        has the
        meaning set forth in Section 4.14(c).

       

      “Offered
        Securities”
has
        the
        meaning set forth in Section 4.14(b).

       

      “Outside
        Date”
        means
        the fifteenth calendar day (if such calendar day is a Trading Day and if
        not,
        then the first Trading Day following such fifteenth calendar day) following
        the
        date of this Agreement.

       

      “Per
        Share Purchase Price”
        equals
        $.24.

       

      “Person”
        means an
        individual or corporation, partnership, trust, incorporated or unincorporated
        association, joint venture, limited liability company, joint stock company,
        government (or an agency or subdivision thereof) or other entity of any
        kind.

       

      “PKU”
        has the
        meaning set forth in the recitals to this Agreement.

       

      “PKU
        Financial Statements”
has
        the
        meaning set forth in Section 5.1(e).

       

      “PRC”
means
        the People’s Republic of China, not including Taiwan, Hong Kong and
        Macau.

       

      “Proceeding”
        means an
        action, claim, suit, investigation or proceeding (including, without limitation,
        an investigation or partial proceeding, such as a deposition), whether commenced
        or threatened.

       

      “Refused
        Securities”
        has the
        meaning set forth in Section 4.14(d).

       

      “Related
        Business”
means
        the business of being a software developer and related professional services
        provider, including being a total solutions provider of Geography Information
        Systems or GIS application software and services and providing software products
        and related services to various segments of the transportation, Digital City
        and
        Land & Resources departments of the Chinese government and any other
        business that is similar or complementary in nature. 

       

      “Registration
        Rights Agreement”
        means
        the Registration Rights Agreement, dated as of the date hereof, among the
        Company and the Investors, in the form of Exhibit
        D
        hereto.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      “Registration
        Statement”
        means a
        registration statement meeting the requirements set forth in the Registration
        Rights Agreement and covering the resale by the Investors of the
        Securities.

       

      “Reverse
        Stock Split”
        means a
        1 for 6 reverse stock split of the Company’s Common Stock. 

       

      “Rule
        144”
        means
        Rule 144 promulgated by the Commission pursuant to the Securities Act, as
        such
        Rule may be amended from time to time, or any similar rule or regulation
        hereafter adopted by the Commission having substantially the same effect
        as such
        Rule.

       

      “SEC
        Reports”
        has the
        meaning set forth in Section 3.1(h).

       

      “Securities”
        means
        the Shares and Selling Stockholder Shares.

       

      “Securities
        Act”
        means
        the Securities Act of 1933, as amended.

       

      “Selling
        Stockholder Shares” means
        the
        shares of Common Stock being offered and sold by the Selling Stockholders
        to the
        Investors hereunder in such number as is set forth below each such Selling
        Stockholder’s signature to this Agreement. 

       

      “Share
        Delivery Date”
        has the
        meaning set forth in Section 4.1(c).

       

      “Shares”
        means
        the shares of Common Stock being offered and sold to the Investors by the
        Company hereunder.

       

      “Short
        Sales”
        include,
        without limitation, all “short sales” as defined in Rule 200 promulgated under
        Regulation SHO under the Exchange Act and all types of direct and indirect
        stock
        pledges, forward sale contracts, options, puts, calls, swaps and similar
        arrangements (including on a total return basis), and sales and other
        transactions through non-US broker dealers or foreign regulated
        brokers.

       

      “Stockholder
        Approval”
has
        the
        meaning set forth in Section 4.15(a).

       

      “Subsequent
        Placement”
has
        the
        meaning set forth in Section 4.14(a).

       

      “Subsequent
        Placement Agreement”
has
        the
        meaning set forth in Section 4.14(f).

       

      “Subsidiary”
        means
        any “significant subsidiary” as defined in Rule 1-02(w) of the Regulation S-X
        promulgated by the Commission under the Exchange Act. The term “Subsidiaries”
shall be deemed to include, without limitation, (i) Intra-Asia Entertainment
        Corporation, a Delaware corporation, Intra-Asia Entertainment (China) Limited,
        a
        Hong Kong corporation (“Intra-Asia
        HK”),
        Intra-Asia Entertainment (Asia Pacific) Limited, a Samoan company (“Intra-Asia
        Samoa”),
        Oriental Intra-Asia Entertainment (China) Limited, a PRC company (“Oriental
        Intra-Asia”),
        being
        the subsidiaries of the Company as of and prior to the date that the Share
        Exchange Agreement was entered into and on the date hereof, and (ii) Cabowise,
        PKU and their respective subsidiaries, including, without limitation, PKU’s
        subsidiary, Beijing Tian Hao Ding Xin Science and Technology Co, Ltd, a PRC
        company, as if the Exchange shall have been consummated as of the time of
        the
        execution of this Agreement, with the effect that all references to Subsidiaries
        of the Company in this Agreement shall refer to each of the aforementioned
        entities.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      “Trading
        Day”
        means
        (i) a day on which the Common Stock is traded on a Trading Market (other
        than
        the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading
        Market (other than the OTC Bulletin Board), a day on which the Common Stock
        is
        traded in the over-the-counter market, as reported by the OTC Bulletin Board,
        or
        (iii) if the Common Stock is not quoted on any Trading Market, a day on which
        the Common Stock is quoted in the over-the-counter market as reported by
        the
        Pink Sheets LLC (or any similar organization or agency succeeding to its
        functions of reporting prices); provided, that in the event that the Common
        Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof,
        then
        Trading Day shall mean a Business Day.

       

      “Trading
        Market”
        means
        whichever of the New York Stock Exchange, the American Stock Exchange, the
        NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital
        Market
        or OTC Bulletin Board on which the Common Stock is listed or quoted for trading
        on the date in question.

       

      “Transaction
        Documents”
        means
        this Agreement, the Registration Rights Agreement, the Closing Escrow Agreement,
        the Lockup Agreements, the Make Good Escrow Agreement, the Escrow Holdback
        Agreement and any other documents or agreements executed in connection with
        the
        transactions contemplated hereunder.

       

      “Trigger
        Date”
has
        the
        meaning set forth in Section 4.14(a).

       

      “Undersubscription
        Amount”
has
        the
        meaning set forth in Section 4.14(b).

       

      “Weicheng”
has
        the
        meaning set forth in Section 5.1(k).

       

      ARTICLE
        2.

      PURCHASE
        AND SALE

       

      2.1.  Closing

       

      (a)  Subject
        to the terms and conditions set forth in this Agreement, at the Closing:
        (i) the
        Company shall issue and sell to each Investor, and each Investor shall,
        severally and not jointly, purchase from the Company Shares in such number
        as
        equals the quotient (rounded down to the nearest whole share) obtained by
        dividing (1) 32% of such Investor’s Investment Amount by (2) the Per Share
        Purchase Price; and (ii) the Selling Stockholders shall sell to each Investor,
        and each Investor shall, severally and not jointly, purchase from the Selling
        Stockholders, Selling Stockholder Shares in such number as equals the quotient
        (rounded down to the nearest whole share) obtained by dividing (1) 68% of
        such
        Investor’s Investment Amount by (2) the Per Share Purchase Price. The Closing
        shall take place at the offices of Bryan Cave LLP, 1290 Avenue of the Americas,
        New York, NY 10104 or at such other location as the parties may
        agree.

       

      
        
          
          

        

        
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      (b)  The
        Company and the Selling Stockholders will cooperate with one another, and
        will
        cause the Selling Stockholder Shares to be issued to the Investors at Closing
        as
        part of a single stock certificate from the Company to each Investor that
        will
        include all Shares and Selling Stockholder Shares being acquired by such
        Investor under this Agreement. In furtherance thereof, each Selling Stockholder
        hereby (i) instructs the Company to retain and cause to be delivered to the
        Investors at Closing in accordance with Section 2.2 such number of shares
        of
        Common Stock otherwise deliverable to such Selling Stockholder under the
        Exchange Agreement as equals the total number of Selling Stockholder Shares
        subject to sale to Investors hereunder, and (ii) agrees to deliver to the
        Company such documents (including legal opinions) as the Company may require
        to
        effect the transfer of such shares to the name of the Investors at the Closing,
        including executed stock powers.

       

      2.2.  Closing
        Deliveries.
        (a)
        At the
        Closing, the Company shall deliver or cause to be delivered to each Investor
        the
        following (the “Company
        Deliverables”):

       

      (i)  a
        single
        certificate representing that number of aggregate Shares and Selling Stockholder
        Shares to be issued and sold at Closing to such Investor, determined under
        Section 2.1(a), registered in the name of such Investor;

       

      (ii)  the
        Closing Escrow Agreement, duly executed by all parties thereto;

       

      (iii)  the
        Make
        Good Escrow Agreement, duly executed by all parties thereto;

       

      (iv)  the
        Escrow Holdback Agreement, duly executed by all parties thereto;

       

      (v)  the
        legal
        opinion of Company Counsel, in agreed form, addressed to the Investors;

       

      (vi)  the
        legal
        opinion of special British Virgin Islands counsel to Cabowise, in agreed
        form,
        addressed to the Investors;

       

      (vii)  the
        legal
        opinion of special PRC counsel to the Company and/or its Subsidiaries in
        agreed
        form, addressed to the Investors; 

       

      (viii)  the
        Registration Rights Agreement, duly executed by the Company;

       

      (ix)  the
        Lockup Agreement, duly executed by each party thereto; and

       

      (x)  A
        certificate executed by a duly authorized officer of the Company certifying,
        without limitation, that (i) all representations and warranties made by the
        Company and information furnished by the Company in any schedules to this
        Agreement, are true and correct in all material respects as of the Closing
        Date,
        (ii) all covenants, agreements and obligations required by the Transaction
        Documents to be performed or complied with by the Company, prior to or at
        the
        Closing, have been performed or complied with, (iii) the Company has cash
        or
        highly liquid debt securities with insignificant interest rate risk and with
        original maturities from the date of purchase of approximately three months
        or
        less on hand of not less than $9,308,298 and (iv) the Company has not changed
        nor made any determination to deviate from the Related Business in any material
        respect since the date of this Agreement.

       

      
        
          
          

        

        
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      (b)  At
        the
        Closing, each Investor shall deliver or cause to be delivered the following
        (collectively, the “Investors
        Deliverables”):

       

      (i)  to
        the
        Escrow Agent for deposit and disbursement in accordance with the Closing
        Escrow
        Agreement, its Investment Amount, in United States dollars and in immediately
        available funds, by wire transfer to an account designated in writing by
        the
        Company for such purpose;

       

      (ii)  to
        the
        Company, the Registration Rights Agreement, duly executed by such Investor;
        and

       

      (iii)  to
        the
        Company, the Make Good Escrow Agreement, duly executed by such
        Investor.

       

      ARTICLE
        3.  

      REPRESENTATIONS
        AND WARRANTIES

       

      3.1.  Representations
        and Warranties of the Company.
        The
        Company, Cabowise and PKU hereby jointly and severally make the following
        representations and warranties to each Investor:

       

      (a)  Subsidiaries.
        The
        Company has no direct or indirect Subsidiaries other than as specified in
        the
Schedule
        3.1(a).
        Except
        as disclosed in Schedule
        3.1(a),
        the
        Company owns, directly or indirectly, all of the capital stock of each
        Subsidiary free and clear of any and all Liens, and all the issued and
        outstanding shares of capital stock of each Subsidiary are validly issued
        and
        are fully paid, non-assessable and free of preemptive and similar rights.
        As of
        the Closing, the Company owns directly 100% of the capital stock of Cabowise
        and
        the Company owns indirectly, through Oriental Intra-Asia, an 85% equity interest
        in PKU in accordance with the Exchange Agreement, in each case free and clear
        of
        all Liens.

       

      (b)  Organization
        and Qualification.
        The
        Company and each Subsidiary are duly incorporated or otherwise organized,
        validly existing and in good standing under the laws of the jurisdiction
        of its
        incorporation or organization (as applicable), with the requisite power and
        authority to own and use its properties and assets and to carry on its business
        as currently conducted. Neither the Company nor any Subsidiary is in violation
        of any of the provisions of its respective certificate or articles of
        incorporation, bylaws or other organizational or charter documents or
        constituent instruments. The Company and each Subsidiary are duly qualified
        to
        conduct its respective businesses and are in good standing as a foreign
        corporation or other entity in each jurisdiction in which the nature of the
        business conducted or property owned by it makes such qualification necessary,
        except where the failure to be so qualified or in good standing, as the case
        may
        be, could not, individually or in the aggregate, have or reasonably be expected
        to result in a Material Adverse Effect.

       

      
        
          
          

        

        
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      (c)  Authorization;
        Enforcement.
        The
        Company and Subsidiaries have the requisite corporate power and authority
        to
        enter into and to consummate the transactions contemplated by each of the
        Transaction Documents and otherwise to carry out its obligations thereunder.
        The
        execution and delivery of each of the Transaction Documents by the Company
        and
        each Subsidiary (to the extent such Subsidiary is a party thereto) and the
        consummation by each of them of the transactions contemplated thereby have
        been
        duly authorized by all necessary action on the part of the Company and each
        Subsidiary and no further action is required by the Company or Subsidiaries
        in
        connection with such authorization other than the requirement that the Company
        obtain the Stockholder Approval as contemplated herein. Each Transaction
        Document has been (or upon delivery will have been) duly executed by the
        Company
        (and each Subsidiary to the extent any such Subsidiary is a party thereto)
        and,
        when delivered in accordance with the terms hereof, will constitute the valid
        and binding obligation of the Company (and each such Subsidiary, as applicable)
        enforceable against the Company (and each Subsidiary, as applicable) in
        accordance with its terms, except as such enforceability may be limited by
        applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
        or
        similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general
        application.

       

      (d)  No
        Conflicts.
        The
        execution, delivery and performance of the Transaction Documents by the Company
        (and each Subsidiary to the extent a party thereto) and the consummation
        by the
        Company (and each such Subsidiary, as applicable) of the transactions
        contemplated thereby and the sale of the Selling Stockholder Shares hereunder
        do
        not and will not (i) conflict with or violate any provision of the Company’s or
        any Subsidiary’s certificate or articles of incorporation, bylaws or other
        organizational or charter documents, or (ii) conflict with, or constitute
        a
        default (or an event that with notice or lapse of time or both would become
        a
        default) under, or give to others any rights of termination, amendment,
        acceleration or cancellation (with or without notice, lapse of time or both)
        of,
        any agreement, credit facility, debt or other instrument (evidencing a Company
        or Subsidiary debt or otherwise) or other understanding to which the Company
        or
        any Subsidiary is a party or by which any property or asset of the Company
        or
        any Subsidiary is bound or affected, or (iii) result in a violation of any
        law,
        rule, regulation, order, judgment, injunction, decree or other restriction
        of
        any United States or PRC court or governmental authority to which the Company
        or
        a Subsidiary is subject (including federal and state securities laws and
        regulations), or by which any property or asset of the Company or a Subsidiary
        is bound or affected; except (A) in the case of each of clauses (ii) and
        (iii),
        such as could not, individually or in the aggregate, have or reasonably be
        expected to result in a Material Adverse Effect and (B) that Stockholder
        Approval will be required to effectuate the Reverse Stock Split. 

       

      (e)  Filings,
        Consents and Approvals.
        Neither
        the Company, nor any Subsidiary, is required to obtain any consent, waiver,
        authorization or order of, give any notice to, or make any filing or
        registration with, any United States or PRC court or other federal, state,
        local
        or other governmental authority or other Person in connection with the
        execution, delivery and performance by the Company and each Subsidiary to
        the
        extent a party thereto of the Transaction Documents or by reason of the sale
        of
        the Selling Stockholder Shares hereunder, other than (i) the filing with
        the
        Commission of one or more Registration Statements in accordance with the
        requirements of the Registration Rights Agreement, (ii) filings required
        by
        state securities laws, (iii) the filing of a Notice of Sale of Securities
        on
        Form D with the Commission under Regulation D of the Securities Act, (iv)
        the
        filings required in accordance with Section 4.5, (v) the filing of proxy
        materials or an information statement with the Commission in connection with
        the
        Stockholder Approval, (vi) the filing of an amendment to the Company’s charter
        to reflect the Reverse Stock Split, (vii) filings, consents and approvals
        required by the rules and regulations of the applicable Trading Market and
        (viii) those that have been made or obtained prior to the date of this
        Agreement. To the knowledge of the Company, the Selling Stockholders are
        not
        required to obtain any consent, waiver, authorization or order of, give any
        notice to, or make any filing or registration with, any United States or
        PRC
        court or other federal, state, local or other governmental authority or any
        other Person in connection with the execution, delivery and performance by
        them
        of the Transaction Documents or by reason of the sale of the Selling Stockholder
        Shares hereunder. 

       

      
        
          
          

        

        
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      (f)  Issuance
        of the Shares.
        The
        Shares have been duly authorized and, when issued and paid for in accordance
        with the Transaction Documents, will be duly and validly issued, fully paid
        and
        nonassessable, free and clear of all Liens. The Company has reserved from
        its
        duly authorized capital stock the shares of Common Stock issuable pursuant
        to
        this Agreement in order to issue the Shares. When issued, the Selling
        Stockholder Shares were duly authorized and were validly issued, fully paid
        and
        nonassessable. The Selling Stockholders are the sole record owner of the
        Selling
        Stockholder Shares to be sold hereunder.

       

      (g)  Capitalization.
        The
        number of shares and type of all authorized, issued and outstanding capital
        stock of the Company, and all shares of Common Stock reserved for issuance
        under
        the Company’s various option and incentive plans, is specified in the SEC
        Reports. Except as specified in the SEC Reports, no securities of the Company
        are entitled to preemptive or similar rights, and no Person has any right
        of
        first refusal, preemptive right, right of participation, or any similar right
        to
        participate in the transactions contemplated by the Transaction Documents.
        Except as specified in the SEC Reports, there are no outstanding options,
        warrants, scrip rights to subscribe to, calls or commitments of any character
        whatsoever relating to, or securities, rights or obligations convertible
        into or
        exchangeable for, or giving any Person any right to subscribe for or acquire,
        any shares of Common Stock, or contracts, commitments, understandings or
        arrangements by which the Company or any Subsidiary is or may become bound
        to
        issue additional shares of Common Stock, or securities or rights convertible
        or
        exchangeable into shares of Common Stock. The issue and sale of the Shares
        and
        the Selling Stockholder Shares hereunder will not, immediately or with the
        passage of time, obligate the Company or any Subsidiary to issue shares of
        Common Stock or other securities to any Person (other than the Investors)
        and
        will not result in a right of any holder of Company or Subsidiary securities
        to
        adjust the exercise, conversion, exchange or reset price under such
        securities.

       

      (h)  SEC
        Reports; Financial Statements.
        The
        Company has filed all reports required to be filed by it under the Securities
        Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof,
        for the twelve months preceding the date hereof (or such shorter period as
        the
        Company was required by law to file such reports) (the foregoing materials,
        including, for purposes of the definition of SEC Reports, the current report
        on
        Form 8-K that is being filed by the Company on or about the date hereof to
        disclose the transactions contemplated hereby and by the Exchange Agreement,
        being collectively referred to herein as the “SEC
        Reports”
        and,
        together with the Schedules to this Agreement (if any), the “Disclosure
        Materials”)
        on a
        timely basis or has timely filed a valid extension of such time of filing
        and
        has filed any such SEC Reports prior to the expiration of any such extension.
        As
        of their respective dates, the SEC Reports complied in all material respects
        with the requirements of the Securities Act and the Exchange Act and the
        rules
        and regulations of the Commission promulgated thereunder, and none of the
        SEC
        Reports, when filed, contained any untrue statement of a material fact or
        omitted to state a material fact required to be stated therein or necessary
        in
        order to make the statements therein, in light of the circumstances under
        which
        they were made, not misleading. The financial statements of the Company and
        each
        Subsidiary included in the SEC Reports comply in all material respects with
        applicable accounting requirements and the rules and regulations of the
        Commission with respect thereto as in effect at the time of filing. Such
        financial statements have been prepared in accordance with GAAP applied on
        a
        consistent basis during the periods involved, except as may be otherwise
        specified in such financial statements or the notes thereto, and fairly present
        in all material respects the financial position of the Company and its
        consolidated Subsidiaries as of and for the dates thereof and the results
        of
        operations and cash flows for the periods then ended, subject, in the case
        of
        unaudited statements, to normal, immaterial, year-end audit adjustments.
        The PKU
        Financial Statements comply in all material respects with applicable accounting
        requirements and the rules and regulations of the Commission with respect
        thereto as in effect at the time of filing. The PKU Financial Statements
        have
        been prepared in accordance with GAAP applied on a consistent basis during
        the
        periods involved, except as may be otherwise specified in such financial
        statements or the notes thereto, and fairly present in all material respects
        the
        financial position of Cabowise and its consolidated Subsidiaries as of and
        for
        the dates thereof and the results of operations and cash flows for the periods
        then ended, subject, in the case of unaudited statements, to normal, immaterial,
        year-end audit adjustments.

       

      
        
          
          

        

        
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      (i)  Press
        Releases.
        The
        press releases disseminated by the Company during the twelve months preceding
        the date of this Agreement taken as a whole do not contain any untrue statement
        of a material fact or omit to state a material fact required to be stated
        therein or necessary in order to make the statements therein, in light of
        the
        circumstances under which they were made and when made, not
        misleading.

       

      (j)  Material
        Changes.
        Except
        as
        specifically disclosed in the SEC Reports, (i) there has been no event,
        occurrence or development that has had or that could reasonably be expected
        to
        result in a Material Adverse Effect, (ii) neither the Company nor any Subsidiary
        of the Company has incurred any liabilities (contingent or otherwise) other
        than
        (A) trade payables, accrued expenses and other liabilities incurred in the
        ordinary course of business consistent with past practice and (B) liabilities
        not required to be reflected in the Company’s or its Subsidiaries’ financial
        statements pursuant to GAAP or required to be disclosed in filings made with
        the
        Commission, (iii) neither the Company nor any of its Subsidiaries has altered
        its method of accounting or the identity of its auditors, (iv) neither the
        Company nor any of its Subsidiaries has declared or made any dividend or
        distribution of cash or other property to its stockholders or purchased,
        redeemed or made any agreements to purchase or redeem any shares of its capital
        stock, and (v) neither the Company nor any of its Subsidiaries has issued
        any
        equity securities to any officer, director or Affiliate, except pursuant
        to
        existing Company stock option plans. The Company does not have pending before
        the Commission any request for confidential treatment of
        information.

       

      
        
          
          

        

        
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      (k)  Litigation.
        There
        is no Action which (i) adversely affects or challenges the legality, validity
        or
        enforceability of any of the Transaction Documents or the Shares or (ii)
        except
        as specifically disclosed in the SEC Reports, could, if there were an
        unfavorable decision, individually or in the aggregate, have or reasonably
        be
        expected to result in a Material Adverse Effect. Neither the Company nor
        any
        Subsidiary, nor any director or officer thereof (in his or her capacity as
        such), is or has been the subject of any Action involving a claim of violation
        of or liability under federal or state securities laws or a claim of breach
        of
        fiduciary duty, except as specifically disclosed in the SEC Reports. There
        has
        not been, and to the knowledge of the Company, there is not pending any
        investigation by the Commission involving the Company, any of its Subsidiaries
        or any of their respective current or former directors or officers (in his
        or
        her capacity as such). The Commission has not issued any stop order or other
        order suspending the effectiveness of any registration statement filed by
        the
        Company or any Subsidiary under the Exchange Act or the Securities
        Act.

       

      (l)  Labor
        Relations.
        No
        material labor dispute exists or, to the knowledge of the Company, is imminent
        with respect to any of the employees of the Company. Except as set forth
        on
Schedule
        3.1(l),
        neither
        the Company nor any Subsidiary has any employment or labor contracts, agreements
        or other understandings with any Person. All such contracts, agreements and/or
        other understandings set forth on Schedule
        3.1(l)
        are in
        full force and effect. 

       

      (m)  Indebtedness;
        Compliance.
        Except
        as disclosed on Schedule
        3.1(m),
        neither
        the Company nor any Subsidiary is a party to any indenture, debt, loan or
        credit
        agreement by which it or any of its properties is bound. Neither the Company
        nor
        any Subsidiary (i) is in default under or in violation of (and no event has
        occurred that has not been waived that, with notice or lapse of time or both,
        would result in a default by the Company or any Subsidiary under), nor has
        the
        Company or any Subsidiary received notice of a claim that it is in default
        under
        or that it is in violation of, any indenture, loan or credit agreement or
        any
        other agreement or instrument to which it is a party or by which it or
        any of
        its properties is bound (whether
        or not such default or violation has been waived), (ii) is in violation of
        any
        order of any court, arbitrator or governmental body, or (iii) is or has been
        in
        violation of any statute, rule or regulation of any governmental authority,
        including without limitation all foreign, federal, state and local laws relating
        to taxes, environmental protection, occupational health and safety, product
        quality and safety and employment and labor matters, except in each case
        as
        could not, individually or in the aggregate, have or reasonably be expected
        to
        result in a Material Adverse Effect. The Exchange Agreement complies with
        all
        applicable laws, rules and regulations of the United States and the PRC.
        The
        Company is in compliance with all effective requirements of the Sarbanes-Oxley
        Act of 2002, as amended, and the rules and regulations thereunder, that are
        applicable to it, except where such noncompliance could not have or reasonably
        be expected to result in a Material Adverse Effect.

       

      (n)  Regulatory
        Permits.
        The
        Company and the Subsidiaries possess all certificates, authorizations and
        permits issued by the appropriate federal, state, local or foreign regulatory
        authorities necessary to conduct their respective businesses as described
        in the
        SEC Reports, except where the failure to possess such permits could not,
        individually or in the aggregate, have or reasonably be expected to result
        in a
        Material Adverse Effect, and neither the Company nor any Subsidiary has received
        any notice of proceedings relating to the revocation or modification of any
        such
        permits.

       

      
        
          
          

        

        
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      (o)  Title
        to Assets.
        The
        Company and the Subsidiaries have valid land use rights for all real property
        that is material to their respective businesses and good and marketable title
        in
        all personal property owned by them that is material to their respective
        businesses, in each case free and clear of all Liens, except for Liens as
        do not
        materially affect the value of such property and do not materially interfere
        with the use made and proposed to be made of such property by the Company
        and
        the Subsidiaries. Any real property and facilities held under lease by the
        Company and the Subsidiaries are held by them under valid, subsisting and
        enforceable leases of which the Company and the Subsidiaries are in compliance,
        except as could not, individually or in the aggregate, have or reasonably
        be
        expected to result in a Material Adverse Effect.

       

      (p)  Patents
        and Trademarks.
        The
        Company and the Subsidiaries have, or have rights to use, all patents, patent
        applications, trademarks, trademark applications, service marks, trade names,
        copyrights, licenses and other similar rights that are necessary or material
        for
        use in connection with their respective businesses as described in the SEC
        Reports and which the failure to so have could, individually or in the
        aggregate, have or reasonably be expected to result in a Material Adverse
        Effect
        (collectively, the “Intellectual
        Property Rights”).
        Neither the Company nor any Subsidiary has received a written notice that
        the
        Intellectual Property Rights used by the Company or any Subsidiary violates
        or
        infringes upon the rights of any Person. Except as set forth in the SEC Reports,
        to the knowledge of the Company, all such Intellectual Property Rights are
        enforceable and there is no existing infringement by another Person of any
        of
        the Intellectual Property Rights. No former or current employee, no former
        or
        current consultant, and no third-party joint developer of the Company or
        any
        Subsidiary has any Intellectual Property Rights made, developed, conceived,
        created or written by the aforesaid employee or consultant during the period
        of
        his or her retention by the Company or any Subsidiary, as the case may be,
        which
        can be asserted against the Company or any Subsidiary, as the case may
        be.

       

      (q)  Insurance.
        The
        Company and the Subsidiaries are insured by insurers of recognized financial
        responsibility against such losses and risks and in such amounts as are prudent
        and customary in the businesses in which the Company and the Subsidiaries
        are
        engaged. The Company has no reason to believe that it will not be able to
        renew
        its and the Subsidiaries’ existing insurance coverage as and when such coverage
        expires or to obtain similar coverage from similar insurers as may be necessary
        to continue its business on terms consistent with market for the Company’s and
        such Subsidiaries’ respective lines of business.

       

      (r)  Transactions
        With Affiliates and Employees; Customers.
        Except
        as set forth in the SEC Reports, none of the officers or directors of the
        Company or any Subsidiary of the Company, and, to the knowledge of the Company,
        none of the employees of the Company, or any of its Subsidiaries, is presently
        a
        party to any transaction with the Company or any Subsidiary (other than for
        services as employees, officers and directors), including any contract,
        agreement or other arrangement providing for the furnishing of services to
        or
        by, providing for rental of real or personal property to or from, or otherwise
        requiring payments to or from any officer, director or such employee or,
        to the
        knowledge of the Company, any entity in which any officer, director, or any
        such
        employee has a substantial interest or is an officer, director, trustee or
        partner. No material customer of the Company or any Subsidiary has indicated
        their intention to diminish their relationship with the Company or any
        Subsidiary (as the case may be) and neither the Company nor any Subsidiary
        has
        any knowledge from which it could reasonably conclude that any such customer
        relationship may be adversely affected.

       

      
        
          
          

        

        
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      (s)  Internal
        Accounting Controls.
        The
        Company and the Subsidiaries maintain a system of internal accounting controls
        sufficient to provide reasonable assurance that (i) transactions are executed
        in
        accordance with management’s general or specific authorizations, (ii)
        transactions are recorded as necessary to permit preparation of financial
        statements in conformity with GAAP and to maintain asset accountability,
        (iii)
        access to assets is permitted only in accordance with management’s general or
        specific authorization, and (iv) the recorded accountability for assets is
        compared with the existing assets at reasonable intervals and appropriate
        action
        is taken with respect to any differences. The Company has established disclosure
        controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
        15d-15(e)) for the Company and its Subsidiaries and designed such disclosure
        controls and procedures to ensure that material information relating to the
        Company, including its Subsidiaries, is made known to the certifying officers
        by
        others within those entities, particularly during the period in which the
        Company’s Form 10-KSB or 10-QSB, as the case may be, is being prepared. The
        Company’s certifying officers have evaluated the effectiveness of the Company’s
        controls and procedures in accordance with Item 307 of Regulation S-B under
        the
        Exchange Act for the Company’s most recently ended fiscal quarter or fiscal
        year-end (such date, the “Evaluation
        Date”).
        The
        Company presented in its most recently filed Form 10-KSB or Form 10-QSB the
        conclusions of the certifying officers about the effectiveness of the disclosure
        controls and procedures based on their evaluations as of the Evaluation Date.
        Since the Evaluation Date, there have been no significant changes in the
        Company’s or its Subsidiaries’ internal controls (as such term is defined in
        Item 308(c) of Regulation S-B under the Exchange Act) or, to the Company’s
        knowledge, in other factors that could significantly affect the Company’s or its
        Subsidiaries’ internal controls.

       

      (t)  Solvency.
        Based
        on the financial condition of the Company, including its Subsidiaries, as
        of the
        Closing Date (and assuming that the Closing shall have occurred), (i) the
        Company’s fair saleable value of its assets exceeds the amount that will be
        required to be paid on or in respect of the Company’s existing debts and other
        liabilities (including known contingent liabilities) as they mature, (ii)
        the
        Company’s assets do not constitute unreasonably small capital to carry on its
        business for the current fiscal year as now conducted and as proposed to
        be
        conducted including its capital needs taking into account the particular
        capital
        requirements of the business conducted by the Company, and projected capital
        requirements and capital availability thereof, and (iii) the current cash
        flow
        of the Company, together with the proceeds the Company would receive, were
        it to
        liquidate all of its assets, after taking into account all anticipated uses
        of
        the cash, would be sufficient to pay all amounts on or in respect of its
        debt
        when such amounts are required to be paid. The Company does not intend to
        incur
        debts beyond its ability to pay such debts as they mature (taking into account
        the timing and amounts of cash to be payable on or in respect of its
        debt).

       

      (u)  Certain
        Fees.
        Except
        as described in Schedule
        3.1(u),
        no
        brokerage or finder’s fees or commissions are or will be payable by the Company
        or any of its Subsidiaries to any broker, financial advisor or consultant,
        finder, placement agent, investment banker, bank or other Person with respect
        to
        the transactions contemplated by this Agreement. The Investors shall have
        no
        obligation with respect to any fees or with respect to any claims (other
        than
        such fees or commissions owed by an Investor pursuant to written agreements
        executed by such Investor which fees or commissions shall be the sole
        responsibility of such Investor) made by or on behalf of other Persons for
        fees
        of a type contemplated in this Section that may be due in connection with
        the
        transactions contemplated by this Agreement.

       

      
        
          
          

        

        
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      (v)  Certain
        Registration Matters.
        Assuming the accuracy of the Investors’ representations and warranties set forth
        in Section 3.2(b)-(e), no registration under the Securities Act is required
        for
        the offer and sale of the Shares by the Company and the Selling Stockholder
        Shares by the Selling Stockholders to the Investors under the Transaction
        Documents. The Company is eligible to register its Common Stock for resale
        by
        the Investors under Form SB-2 promulgated under the Securities Act. Except
        as
        specified in Schedule
        3.1(v),
        the
        Company has not granted or agreed to grant to any Person any rights (including
        “piggy-back” registration rights) to have any securities of the Company
        registered with the Commission or any other governmental authority that have
        not
        been satisfied.

       

      (w)  Listing
        and Maintenance Requirements.
        Except
        as specified in the SEC Reports, the Company has not, in the two years preceding
        the date hereof, received notice from any Trading Market to the effect that
        the
        Company is not in compliance with the listing or maintenance requirements
        thereof. The Company is, and has no reason to believe that it will not in
        the
        foreseeable future continue to be, in compliance with the listing and
        maintenance requirements for continued listing of the Common Stock on the
        Trading Market on which the Common Stock is currently listed or quoted. The
        issuance and sale of the Shares and the sale of the Selling Stockholder Shares
        by the Selling Stockholders under the Transaction Documents does not contravene
        the rules and regulations of the Trading Market on which the Common Stock
        is
        currently listed or quoted, and no approval of the stockholders of the Company
        thereunder is required for the Company to issue and deliver to the Investors
        the
        Shares and for the Selling Stockholders to deliver to the Investors the Selling
        Stockholder Shares as contemplated by the Transaction Documents.

       

      (x)  Investment
        Company.
        The
        Company is not, and is not an Affiliate of, and immediately following the
        Closing will not have become, an “investment company” within the meaning of the
        Investment Company Act of 1940, as amended.

       

      (y)  Application
        of Takeover Protections.
        The
        Company has taken all necessary action, if any, in order to render inapplicable
        any control share acquisition, business combination, poison pill (including
        any
        distribution under a rights agreement) or other similar anti-takeover provision
        under the Company’s Articles of Incorporation (or similar charter documents) or
        the laws of its state of incorporation that is or could become applicable
        to the
        Investors as a result of the Investors, the Company and the Selling Stockholders
        fulfilling their obligations or exercising their rights under the Transaction
        Documents, including without limitation the Company’s issuance of the Shares,
        the Selling Stockholders delivery of the Selling Stockholder Shares and the
        Investors’ ownership of the Securities. 

       

      (z)  No
        Additional Agreements.
        Neither
        the Company nor any Subsidiary has any agreement or understanding with any
        Investor with respect to the transactions contemplated by the Transaction
        Documents other than as specified in the Transaction Documents.

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      (aa)  Consultation
        with Auditors.
        The
        Company has consulted its independent auditors concerning the accounting
        treatment of the transactions contemplated by the Transaction Documents,
        and in
        connection therewith has furnished such auditors complete copies of the
        Transaction Documents.

       

      (bb)  Make
        Good Shares.
        Each
        Make Good Pledgor is the sole record and beneficial owner of the 2007 Make
        Good
        Shares and 2008 Make Good Shares being deposited by such Make Good Pledgor
        into
        escrow pursuant to the Make Good Escrow Agreement and the terms hereof, and
        holds such 2007 Make Good Shares and/or 2008 Make Good Shares free and clear
        of
        all Liens.

       

      (cc)  Company
        Policies.
        The
        sale of the Selling Stockholder Shares by the Selling Stockholders does not
        violate any policies or procedures established by the Company.

       

      (dd)  Foreign
        Corrupt Practices Act.
        Neither
        the Company nor any Subsidiary, nor to the knowledge of the Company, any
        agent
        or other person acting on behalf of any of the Company or any Subsidiary,
        has,
        directly or indirectly, (i) used any funds, or will use any proceeds from
        the
        sale of the Securities, for unlawful contributions, gifts, entertainment
        or
        other unlawful expenses related to foreign or domestic political activity,
        (ii)
        made any unlawful payment to foreign or domestic government officials or
        employees or to any foreign or domestic political parties or campaigns from
        corporate funds, (iii) failed to disclose fully any contribution made by
        the
        Company or any Subsidiary (or made by any Person acting on their behalf of
        which
        the Company is aware) which is in violation of law, or (iv) has violated
        in any
        material respect any provision of the Foreign Corrupt Practices Act of 1977,
        as
        amended, and the rules and regulations thereunder.

       

      (ee)  PFIC.
        Neither
        the Company nor any Subsidiary is or intends to become a “passive foreign
        investment company” within the meaning of Section 1297 of the U.S. Internal
        Revenue Code of 1986, as amended.

       

      (ff)  OFAC.
        Neither
        the Company nor any Subsidiary nor, to the knowledge of the Company, any
        director, officer, agent, employee, Affiliate or Person acting on behalf
        of the
        Company or any Subsidiary is currently subject to any U.S. sanctions
        administered by the Office of Foreign Assets Control of the U.S. Treasury
        Department (“OFAC”);
        and
        the Company will not directly or indirectly use the proceeds of the sale
        of the
        Securities, or lend, contribute or otherwise make available such proceeds
        to any
        Subsidiary, joint venture partner or other Person or entity, towards any
        sales
        or operations in Cuba, Iran, Syria, Sudan, Myanmar or any other country
        sanctioned by OFAC or for the purpose of financing the activities of any
        Person
        currently subject to any U.S. sanctions administered by OFAC.

       

      (gg)  Money
        Laundering Laws.
        The
        operations of each of the Company and any Subsidiary are and have been conducted
        at all times in compliance with the money laundering statutes of applicable
        jurisdictions, the rules and regulations thereunder and any related or similar
        rules, regulations or guidelines, issued, administered or enforced by any
        applicable governmental agency (collectively, the “Money
        Laundering Laws”)
        and no
        action, suit or proceeding by or before any court or governmental agency,
        authority or body or any arbitrator involving the Company and/or any Subsidiary
        with respect to the Money Laundering Laws is pending or, to the best knowledge
        of the Company, threatened.

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

      (hh)  Other
        Representations and Warranties Relating to PKU.
        

       

      (i)  All
        material consents, approvals, authorizations or licenses requisite under
        PRC law
        for the due and proper establishment and operation of PKU have been duly
        obtained from the relevant PRC governmental authorities and are in full force
        and effect.

       

      (ii)  All
        filings and registrations with the PRC governmental authorities required
        in
        respect of PKU and its operations including, without limitation, the
        registration with the Ministry of Commerce, the State Administration of Industry
        and Commerce, the State Administration for Foreign Exchange, tax bureau and
        customs authorities have been duly completed in accordance with the relevant
        PRC
        rules and regulations, except where, the failure to complete such filings
        and
        registrations does not, and would not, individually or in the aggregate,
        have a
        Material Adverse Effect.

       

      (iii)  PKU
        has
        complied with all relevant PRC laws and regulations regarding the contribution
        and payment of its registered share capital, the payment schedule of which
        has
        been approved by the relevant PRC governmental authorities. There are no
        outstanding rights of, or commitments made by the Company or any Subsidiary
        to
        sell any equity interest in PKU.

       

      (iv)  PKU
        is
        not in receipt of any letter or notice from any relevant PRC governmental
        authority notifying it of revocation of any licenses or qualifications issued
        to
        it or any subsidy granted to it by any PRC governmental authority for
        non-compliance with the terms thereof or with applicable PRC laws, or the
        need
        for compliance or remedial actions in respect of the activities carried out
        by
        PKU, except such revocation does not, and would not, individually or in the
        aggregate, have a Material Adverse Effect.

       

      (v)  PKU
        has
        conducted its business activities within the permitted scope of business
        or has
        otherwise operated its business in compliance with all relevant legal
        requirements and with all requisite licenses and approvals granted by competent
        PRC governmental authorities other than such non-compliance that do not,
        and
        would not, individually or in the aggregate, have a Material Adverse Effect.
        As
        to licenses, approvals and government grants and concessions requisite or
        material for the conduct of any part of PKU’s business which is subject to
        periodic renewal, the Company has no knowledge of any grounds on which such
        requisite renewals will not be granted by the relevant PRC governmental
        authorities.

       

      (vi)  With
        regard to employment and staff or labor, PKU has complied with all applicable
        PRC laws and regulations in all material respects, including without limitation,
        laws and regulations pertaining to welfare funds, social benefits, medical
        benefits, insurance, retirement benefits, pensions or the like, other than
        such
        non-compliance that do not, and would not, individually or in the aggregate,
        have a Material Adverse Effect.

       

      (ii)  Cash
        on Hand.
        The
        Company represents and warrants that as of the Closing Date it will have
        cash or
        highly liquid debt securities with insignificant interest rate risk and with
        original maturities from the date of purchase of approximately three months
        or
        less on hand of not less than $9,308,298. The Company has no intention to
        make
        use of any of the aforementioned funds other than in connection with the
        Related
        Business.

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      (jj)  Disclosure.
        The
        Company and each Subsidiary a party hereto confirm that neither it nor any
        Person acting on its behalf has provided any Investor or its respective agents
        or counsel with any information that the Company believes constitutes material,
        non-public information concerning the Company, the Subsidiaries or their
        respective businesses, except insofar as the existence and terms of the proposed
        transactions contemplated hereunder may constitute such information. The
        Company
        understands and confirms that the Investors will rely on the foregoing
        representations and covenants in effecting transactions in securities of
        the
        Company. To the knowledge of the Company, the representations and warranties
        of
        each Selling Stockholder are true and correct in all material respects. All
        disclosure provided to the Investors regarding the Company, the Subsidiaries
        or
        their respective businesses and the transactions contemplated hereby, furnished
        by or on behalf of the Company (including the Company’s representations and
        warranties set forth in this Agreement) are true and correct and do not contain
        any untrue statement of a material fact or omit to state any material fact
        necessary in order to make the statements made therein, in light of the
        circumstances under which they were made, not misleading.

       

      3.2.  Representations
        and Warranties of the Investors.
        Each
        Investor hereby, for itself and for no other Investor, represents and warrants
        to the Company and the Selling Stockholders as follows:

       

      (a)  Organization;
        Authority.
        Such
        Investor is an entity duly organized, validly existing and in good standing
        under the laws of the jurisdiction of its organization with the requisite
        corporate or partnership power and authority to enter into and to consummate
        the
        transactions contemplated by the applicable Transaction Documents and otherwise
        to carry out its obligations thereunder. The execution, delivery and performance
        by such Investor of the transactions contemplated by this Agreement has been
        duly authorized by all necessary corporate or, if such Investor is not a
        corporation, such partnership, limited liability company or other applicable
        like action, on the part of such Investor. Each of this Agreement and the
        Registration Rights Agreement has been duly executed by such Investor, and
        when
        delivered by such Investor in accordance with the terms hereof, will constitute
        the valid and legally binding obligation of such Investor, enforceable against
        it in accordance with its terms, except as such enforceability may be limited
        by
        applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
        or
        similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general
        application.

       

      (b)  Investment
        Intent.
        Such
        Investor is acquiring the Securities as principal for its own account for
        investment purposes only and not with a view to or for distributing or reselling
        such Securities or any part thereof, without prejudice, however, to such
        Investor’s right at all times to sell or otherwise dispose of all or any part of
        such Securities in compliance with applicable federal and state securities
        laws.
        Subject to the immediately preceding sentence, nothing contained herein shall
        be
        deemed a representation or warranty by such Investor to hold the Securities
        for
        any period of time. Such Investor is acquiring the Securities hereunder in
        the
        ordinary course of its business. Such Investor does not have any agreement
        or
        understanding, directly or indirectly, with any Person to distribute any
        of the
        Securities.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      (c)  Investor
        Status.
        At the
        time such Investor was offered the Securities, it was, and at the date hereof
        it
        is, an “accredited investor” as defined in Rule 501(a) under the Securities Act.
        Such Investor is not a registered broker-dealer under Section 15 of the Exchange
        Act.

       

      (d)  General
        Solicitation.
        Such
        Investor is not purchasing the Securities as a result of any advertisement,
        article, notice or other communication regarding the Securities published
        in any
        newspaper, magazine or similar media or broadcast over television or radio
        or
        presented at any seminar or any other general solicitation or general
        advertisement.

       

      (e)  Access
        to Information.
        Such
        Investor acknowledges that it has reviewed the Disclosure Materials and has
        been
        afforded (i) the opportunity to ask such questions as it has deemed necessary
        of, and to receive answers from, representatives of the Company concerning
        the
        terms and conditions of the offering of the Securities and the merits and
        risks
        of investing in the Securities; (ii) access to information about the Company
        and
        the Subsidiaries and their respective financial condition, results of
        operations, business, properties, management and prospects sufficient to
        enable
        it to evaluate its investment; and (iii) the opportunity to obtain such
        additional information that the Company possesses or can acquire without
        unreasonable effort or expense that is necessary to make an informed investment
        decision with respect to the investment. Neither such inquiries nor any other
        investigation conducted by or on behalf of such Investor or its representatives
        or counsel shall modify, amend or affect such Investor’s right to rely on the
        truth, accuracy and completeness of the Disclosure Materials and the Company’s
        representations and warranties contained in the Transaction Documents. Such
        Investor acknowledges that notwithstanding the foregoing, any draft of the
        Registration Statement to be filed in connection with the transactions
        contemplated hereby that was provided to such Investor prior to the date
        hereof
        was incomplete in the form distributed, and such Investor is not relying
        on such
        draft in making its decision to enter into the transactions contemplated
        hereby.

       

      (f)  Certain
        Trading Activities.
        Such
        Investor has not directly or indirectly, nor has any Person acting on behalf
        of
        or pursuant to any understanding with such Investor, engaged in any transactions
        in the securities of the Company (including, without limitations, any Short
        Sales involving the Company’s securities) since the earlier to occur of (1) the
        time that such Investor was first contacted by the Company or Antaeus Capital,
        Inc. regarding an investment in the Company and (2) the 30th
        day
        prior to the date of this Agreement. Such Investor covenants that neither
        it nor
        any Person acting on its behalf or pursuant to any understanding with it
        will
        engage in any transactions in the securities of the Company (including Short
        Sales) prior to the time that the transactions contemplated by this Agreement
        are publicly disclosed.

       

      (g)  Independent
        Investment Decision.
        Such
        Investor has independently evaluated the merits of its decision to purchase
        the
        Securities pursuant to the Transaction Documents, and such Investor confirms
        that it has not relied on the advice of any other Investor’s business and/or
        legal counsel in making such decision. Such Investor has not relied on the
        business or legal advice of Antaeus Capital, Inc. or any of its agents, counsel
        or Affiliates in making its investment decision hereunder, and confirms that
        none of such Persons has made any representations or warranties to such Investor
        in connection with the transactions contemplated by the Transaction
        Documents.

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      The
        Company acknowledges and agrees that no Investor has made or makes any
        representations or warranties with respect to the transactions contemplated
        hereby other than those specifically set forth in this Section 3.2.

       

      3.3.  Representations
        and Warranties of the Selling Stockholders.
        Each
        Selling Stockholder hereby, for itself and for no other Selling Stockholder,
        makes the following representations and warranties to each Investor and to
        the
        Company, Cabowise and PKU:

       

      (a)  Authorization;
        Enforcement.
        Each of
        the Selling Stockholders has the requisite corporate power and authority
        to
        enter into and to consummate the transactions contemplated by each of the
        Transaction Documents that the Selling Stockholder is a party to and otherwise
        to carry out its obligations thereunder. The execution and delivery of each
        of
        the Transaction Documents by the Selling Stockholders (to the extent such
        Selling Stockholder is a party thereto) and the consummation by each of them
        of
        the transactions contemplated thereby have been duly authorized by all necessary
        action on the part of each of the Selling Stockholders and no further action
        is
        required by the Selling Stockholders in connection with such authorization.
        Each
        Transaction Document has been (or upon delivery will have been) duly executed
        by
        each Selling Stockholder to the extent any such Selling Stockholder is a
        party
        thereto and, when delivered in accordance with the terms hereof, will constitute
        the valid and binding obligation of each of the Selling Stockholders (as
        applicable) enforceable against each of the Selling Stockholders (as applicable)
        in accordance with its terms, except as such enforceability may be limited
        by
        applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
        or
        similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general
        application.

       

      (b)  No
        Consents.
        No
        consent, approval, authorization or order of, or any filing or declaration
        with
        any court or governmental agency or body or other Person is required in
        connection with the consummation by each Selling Stockholder of the transactions
        on its part contemplated by the Transaction Documents, except (i) filings
        as may be required under Sections 13(d) and 16(a) of the Exchange Act, and
        (ii) those that have been made or obtained prior to the date of this
        Agreement.

       

      (c)  No
        Conflicts.
        The
        execution, delivery and performance by each Selling Stockholder of the
        Transaction Documents to which it is a party and the consummation of the
        transactions contemplated thereby do not and will not result in a breach
        or
        violation of, or constitute a default under (with or without notice or lapse
        of
        time), any stockholders agreement, voting trust agreement, pledge registration
        rights agreement or other agreement or instrument to which such Selling
        Stockholder or any of its properties are bound or affected, and will not
        violate
        or conflict with any judgment, decree or order of any court or other
        governmental agency or any law, rule or regulation applicable to such Selling
        Stockholder, in each case such as could not have or result in a Material
        Adverse
        Effect.

       

      (d)  Certain
        Registration Matters.
        Assuming the accuracy of the Investors’ representations and warranties set forth
        in Sections 3.2(b)-(d), no registration under the Securities Act is required
        for
        the purchase and sale of the Selling Stockholder Shares to the Investors
        hereunder.

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

       

      (e)  Good
        and Marketable Title.
        Each
        Selling Stockholder is the sole lawful record and sole beneficial owner of
        all
        of the Selling Stockholder Shares to be sold by it hereunder. Such Selling
        Stockholder has good and marketable title to the Selling Stockholder Shares
        to
        be sold by it hereunder, free and clear of any Liens, except for restrictions
        on
        subsequent transfer imposed by United States securities laws. Upon consummation
        of the transactions contemplated hereby, the Investors will have good and
        marketable title to the Selling Stockholder Shares purchased by them, free
        and
        clear of all Liens created by or through such Selling Stockholder.

       

      (f)  Certain
        Fees.
        Except
        as described in Schedule
        3.3(f),
        no
        brokerage or finder's fees or commissions are or will be payable by the Selling
        Stockholders to any broker, financial advisor or consultant, finder, placement
        agent, investment banker, bank or other Person with respect to the transactions
        contemplated by this Agreement. The Investors shall have no obligation with
        respect to any fees or with respect to any claims (other than such fees or
        commissions owed by an Investor pursuant to written agreements executed by
        such
        Investor which fees or commissions shall be the sole responsibility of such
        Investor) made by or on behalf of other Persons for fees of a type contemplated
        in this Section that may be due in connection with the transactions contemplated
        by this Agreement. 

       

      (g)  No
        Additional Agreements.
        The
        Selling Stockholders do not have any agreement or understanding with any
        Investor or with the Company with respect to the transactions contemplated
        by
        the Transaction Documents other than as specified in the Transaction
        Documents.

       

      (h)  Company
        Policies.
        The
        sale of the Selling Stockholder Shares by the Selling Stockholders does not
        violate any policies or procedures established by the Company.

       

      (i)  Other
        Representations.
        The
        representations and warranties of the Company set forth in Sections 3.1(h),
        (i),
        (j) and (k) as, and solely to the extent that, they relate to the Company
        and
        its Subsidiaries (other than Cabowise and PKU) prior to the consummation
        of the
        Exchange, are true and correct in all respects on the date hereof.

       

      ARTICLE
        4.  

      OTHER
        AGREEMENTS OF THE PARTIES

       

      4.1.  (a)         
        Securities
        may only be disposed of in compliance with state and federal securities laws.
        In
        connection with any transfer of the Securities other than pursuant to an
        effective registration statement, to the Company, to an Affiliate of an Investor
        or in connection with a pledge as contemplated in Section 4.1(b), the Company
        may require the transferor thereof to provide to the Company an opinion of
        counsel selected by the transferor, the form and substance of which opinion
        shall be reasonably satisfactory to the Company, to the effect that such
        transfer does not require registration of such transferred Securities under
        the
        Securities Act.

       

      (b)  Certificates
        evidencing the Securities will contain the following legend, until such time
        as
        they are not required under Section 4.1(c):

       

      THESE
        SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
        OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
        REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
        ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
        EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
        AN
        AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
        REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
        SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
        TO
        SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
        COMPANY. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
        ACCOUNT SECURED BY SUCH SECURITIES.

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      The
        Company acknowledges and agrees that an Investor may from time to time pledge,
        and/or grant a security interest in some or all of the Securities pursuant
        to a
        bona fide margin agreement in connection with a bona fide margin account
        and, if
        required under the terms of such agreement or account, such Investor may
        transfer pledged or secured Securities to the pledgees or secured parties.
        Such
        a pledge or transfer would not be subject to approval or consent of the Company
        and no legal opinion of legal counsel to the pledgee, secured party or pledgor
        shall be required in connection with the pledge, but such legal opinion may
        be
        required in connection with a subsequent transfer following default by the
        Investor transferee of the pledge. No notice shall be required of such pledge.
        At the appropriate Investor’s expense, the Company will execute and deliver such
        reasonable documentation as a pledgee or secured party of Securities may
        reasonably request in connection with a pledge or transfer of the Securities
        including the preparation and filing of any required prospectus supplement
        under
        Rule 424(b)(3) of the Securities Act or other applicable provision of the
        Securities Act to appropriately amend the list of selling stockholders
        thereunder through a prospectus supplement or post-effective amendment, as
        appropriate. Except as otherwise provided in Section 4.1(c), any Securities
        subject to a pledge or security interest as contemplated by this Section
        4.1(b)
        shall continue to bear the legend set forth in this Section 4.1(b) and be
        subject to the restrictions on transfer set forth in Section
        4.1(a).

       

      (c)  Certificates
        evidencing Securities shall not contain any legend (including the legend
        set
        forth in Section 4.1(b)): (i) while a registration statement (including the
        Registration Statement) covering such Securities is then effective, or (ii)
        following a sale or transfer of such Securities pursuant to Rule 144 (assuming
        the transferee is not an Affiliate of the Company), or (iii) while such
        Securities are eligible for sale under Rule 144(k). If an Investor shall
        make a
        sale or transfer of Securities either (x) pursuant to Rule 144 or (y) pursuant
        to a registration statement and in each case shall have delivered to the
        Company
        or the Company’s transfer agent the certificate representing Securities
        containing a restrictive legend which are the subject of such sale or transfer
        and a representation letter in customary form (the
        date
        of such sale or transfer and Securities delivery being the “Share
        Delivery Date”)
        and (1)
        the Company shall fail to deliver or cause to be delivered to such Investor
        a
        certificate representing such Securities that is free from all restrictive
        or
        other legends by the third Trading Day following the Share Delivery Date
        and (2)
        following such third Trading Day after the Share Delivery Date and prior
        to the
        time such Securities are received free from restrictive legends, the Investor,
        or any third party on behalf of such Investor, purchases (in an open market
        transaction or otherwise) shares of Common Stock to deliver in satisfaction
        of a
        sale by the Investor of such Securities (a "Buy-In"),
        then
        the Company shall pay in cash to the Investor (for costs incurred either
        directly by such Investor or on behalf of a third party) the amount by which
        the
        total purchase price paid for Common Stock as a result of the Buy-In (including
        brokerage commissions, if any) exceed the proceeds received by such Investor
        as
        a result of the sale to which such Buy-In relates. The Investor shall provide
        the Company written notice indicating the amounts payable to the Investor
        in
        respect of the Buy-In. The Company may not make any notation on its records
        or
        give instructions to any transfer agent of the Company that enlarge the
        restrictions on transfer set forth in this Section.

       

      
        
          
          

        

        
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      4.2.  Furnishing
        of Information.
        As long
        as any Investor owns the Securities, the Company covenants to timely file
        (or
        obtain extensions in respect thereof and file within the applicable grace
        period) all reports required to be filed by the Company after the date hereof
        pursuant to the Exchange Act. As long as any Investor owns Securities, if
        the
        Company is not required to file reports pursuant to such laws, it will prepare
        and furnish to the Investors and make publicly available in accordance with
        Rule
        144(c) such information as is required for the Investors to sell the Securities
        under Rule 144. The Company further covenants that it will take such further
        action as any holder of Securities may reasonably request, all to the extent
        required from time to time to enable such Person to sell the Securities without
        registration under the Securities Act within the limitation of the exemptions
        provided by Rule 144.

       

      4.3.  Integration.
        The
        Company shall not, and shall use its best efforts to ensure that no Affiliate
        of
        the Company shall, sell, offer for sale or solicit offers to buy or otherwise
        negotiate in respect of any security (as defined in Section 2 of the Securities
        Act) that would be integrated with the offer or sale of the Securities in
        a
        manner that would require the registration under the Securities Act of the
        sale
        of the Securities to the Investors, or that would be integrated with the
        offer
        or sale of the Securities for purposes of the rules and regulations of any
        Trading Market in a manner that would require stockholder approval of the
        sale
        of the Securities to the Investors.

       

      4.4.  Subsequent
        Registrations.
        The
        Company may not file any registration statement (other than on Form S-8)
        with
        the Commission with respect to any securities of the Company prior to the
        time
        that all Securities are registered pursuant to one or more effective
        Registration Statement(s), and the prospectuses forming a portion of such
        Registration Statement(s) is available for the resale of all
        Securities.

       

      4.5.  Securities
        Laws Disclosure; Publicity.
        By 9:00
        a.m. (New York time) on the Trading Day following the execution of this
        Agreement, and by 9:00 a.m. (New York time) on the Trading Day following
        the
        Closing Date, the Company shall issue press releases disclosing the transactions
        contemplated hereby and the Closing (including details with respect to the
        make
        good provision contained in Section 4.11 herein). On the Trading Day following
        the execution of this Agreement the Company will file a Current Report on
        Form
        8-K disclosing the material terms of the Transaction Documents, including
        details with respect to the make good provision contained in Section 4.11
        herein
        (and attach as exhibits thereto the Transaction Documents), and on the Trading
        Day following the Closing Date the Company will file an additional Current
        Report on Form 8-K to disclose the Closing. In addition, the Company will
        make
        such other filings and notices in the manner and time required by the Commission
        and the Trading Market on which the Common Stock is listed. Notwithstanding
        the
        foregoing, the Company shall not publicly disclose the name of any Investor,
        or
        include the name of any Investor in any filing with the Commission (other
        than
        the Registration Statement and any exhibits to filings made in respect of
        this
        transaction in accordance with periodic filing requirements under the Exchange
        Act) or any regulatory agency or Trading Market, without the prior written
        consent of such Investor, except to the extent such disclosure is required
        by
        law or Trading Market regulations. Notwithstanding the foregoing, if the
        execution of this Agreement and the Closing occur on the same date (or if
        the
        Closing occurs the day after the execution of this Agreement), then the Company
        shall be permitted to file one Current Report on Form 8-K that discloses
        the
        execution of this Agreement and the Closing (including details with respect
        to
        the make good provision contained in Section 4.11 herein) on the next Trading
        Day (or on the same Trading Day if the Closing occurs the day after the
        execution of this Agreement).

       

      
        
          
          

        

        
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      4.6.  Limitation
        on Issuance of Future Priced Securities.
        During
        the six months following the Closing Date, the Company shall not issue any
        “Future Priced Securities” as such term is described by NASD
        IM-4350-1.

       

      4.7.  Indemnification
        of Investors.
        In
        addition to the indemnity provided in the Registration Rights Agreement,
        the
        Company and the Selling Stockholders hereby agree severally as to the
        representations and warranties contained in Section 3.3(a)-(h) and jointly
        as to
        the representation and warranty contained in Section 3.3(i), to the following
        indemnification of the Investors:

       

      (a)  The
        Company will indemnify and hold the Investors and their respective directors,
        officers, shareholders, partners, employees and agents (each, an "Investor
        Party")
        harmless from any and all Losses that any such Investor Party may suffer
        or
        incur as a result of or relating to any misrepresentation, breach or inaccuracy
        of any representation, warranty, covenant or agreement made by the Company
        in
        any Transaction Document. In addition to the indemnity contained herein,
        the
        Company will reimburse each Investor Party for its reasonable legal and other
        expenses (including the cost of any investigation, preparation and travel
        in
        connection therewith) incurred in connection therewith, as such expenses
        are
        incurred. 

       

      (b)  Each
        Selling Stockholder will severally and not jointly indemnify and hold each
        Investor Party harmless from any and all Losses that such Investor Party
        may
        suffer or incur as a result of or relating to any misrepresentation, breach
        or
        inaccuracy of any representation, warranty, covenant or agreement made by
        such
        Selling Stockholder in any Transaction Document. In addition, such Selling
        Stockholder will reimburse each Investor Party for its reasonable legal and
        other expenses (including the cost of any investigation, preparation and
        travel
        in connection therewith) incurred in connection therewith, as such expenses
        are
        incurred.

       

      (c)  Each
        Selling Stockholder will severally and not jointly indemnify and hold the
        Company harmless from any and all Losses that the Company may suffer or incur
        as
        a result of or relating to any misrepresentation, breach or inaccuracy of
        any
        representation, warranty, covenant or agreement made by such Selling Stockholder
        in any Transaction Document or in the Share Exchange Agreement, dated on
        or
        about the date hereof, among the Company, Cabowise and the Selling Stockholders.
        In addition, such Selling Stockholder will reimburse the Company for its
        reasonable legal and other expenses (including the cost of any investigation,
        preparation and travel in connection therewith) incurred in connection
        therewith, as such expenses are incurred.

       

      
        
          
          

        

        
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      (d)  Except
        as
        otherwise set forth herein, the mechanics and procedures with respect to
        the
        rights and obligations under this Section 4.7 shall be the same as those
        set
        forth in Section 5 of the Registration Rights Agreement.

       

      (e)  Prior
        to
        the Closing, the Selling Stockholders shall enter into an escrow agreement
        (the
“Escrow
        Holdback Agreement”)
        with
        the Company, the Investors and Comerica Bank, as escrow agent (in form and
        substance reasonably satisfactory to the Investors), pursuant to which the
        Selling Stockholders shall place an aggregate of $1,000,000 (the “Escrow
        Amount”)
        into
        escrow for a period of twelve months following the Closing in order to secure
        the Selling Stockholders’ indemnification obligations to the Company and the
        Investors in this Section 4.7. The Escrow Amount set forth in this Section
        4.7(e) is in addition to and does not limit in any manner or act as a cap
        on the
        indemnification obligations of the Selling Stockholders set forth in Section
        4.7(b) and Section 4.7(c).

       

      4.8.  Non-Public
        Information.
        Each of
        the Company and the Selling Stockholders covenant and agree that neither
        they
        nor any other Person acting on their behalf will provide any Investor or
        its
        agents or counsel with any information that the Company believes constitutes
        material non-public information, unless prior thereto such Investor shall
        have
        executed a written agreement regarding the confidentiality and use of such
        information. Each of the Company and the Selling Stockholders understand
        and
        confirm that each Investor shall be relying on the foregoing representations
        in
        effecting transactions in securities of the Company.

       

      4.9.  Listing
        of Securities.
        The
        Company agrees, (i) if the Company applies to have the Common Stock traded
        on
        any other Trading Market, it will include in such application the Securities,
        and will take such other action as is necessary or desirable to cause the
        Securities to be listed on such other Trading Market as promptly as possible,
        and (ii) the Company will take all action reasonably necessary to continue
        the
        listing and trading of its Common Stock on a Trading Market and will comply
        in
        all material respects with the Company’s reporting, filing and other obligations
        under the bylaws or rules of the Trading Market.

       

      4.10.  Use
        of
        Proceeds.
        The
        Company will use the net proceeds from the sale of the Shares hereunder for
        working capital purposes and not for the satisfaction of any portion of the
        Company’s debt (other than payment of trade payables and accrued expenses in the
        ordinary course of the Company’s business and consistent with prior practices),
        or to redeem any Common Stock or Common Stock Equivalents.

       

      4.11.  Make
        Good Shares.

       

      (a)  Each
        Make
        Good Pledgor
        agrees
        that in
        the
        event that the after tax net income reported in the 2007 Annual Report is
        less
        than $4,000,000 (the “2007
        Guaranteed ATNI”)
        the
        Make Good Pledgors will
        transfer (in accordance with the Make Good Escrow Agreement) to the Investors
        on
        a pro-rata basis (determined by dividing each Investor’s Investment Amount by
        the aggregate of all Investment Amounts delivered to the Company by the
        Investors hereunder) for no consideration other than their part of their
        respective Investment Amount at Closing, an
        aggregate of 14,583,333 shares of Common Stock (as
        equitably adjusted for any stock splits, stock combinations, stock dividends
        or
        similar transactions)
        (the
“2007
        Make Good Shares”).
        In
        the
        event that either (i) the earnings per share reported in the 2008 Annual
        Report
        is less than $0.049 on
        a
        fully diluted basis (as equitably adjusted for any stock splits, stock
        combinations, stock dividends or similar transactions) (the “2008
        Guaranteed EPS”)
        or
        (ii) the after tax net income reported in the 2008 Annual Report is less
        than
$8,000,000
        (the
“2008
        Guaranteed ATNI”),
        the
        Make Good Pledgors will transfer (in accordance with the Make Good Escrow
        Agreement) to the Investors on a pro rata basis (determined by dividing each
        Investor’s Investment Amount by the aggregate of all Investment Amounts
        delivered to the Company by the Investors hereunder) for no consideration
        other
        than their part of their respective Investment Amount at Closing, an aggregate
        of 14,583,333 shares of Common Stock (as
        equitably adjusted for any stock splits, stock combinations, stock dividends
        or
        similar transactions)
        (the
“2008
        Make Good Shares”).
        In
        the
        event that the
        after
        tax net income reported in the 2007 Annual Report is equal to or greater
        than
        the 2007 Guaranteed ATNI no
        transfer of the 2007 Make Good Shares shall be required to be made by the
        Make
        Good Pledgors to the Investors and such 2007 Make Good Shares shall be returned
        to the Make Good Pledgors in accordance with the Make Good Escrow
        Agreement. In
        the
        event that both (i)
        the
        earnings per share reported in the 2008
        Annual Report is
        equal to
        or greater than the 2008 Guaranteed EPS and (ii) the after tax net income
        reported in the 2008 Annual Report is equal to or greater than the 2008
        Guaranteed ATNI, no
        transfer of the 2008 Make Good Shares shall be required to be made by the
        Make
        Good Pledgors to the Investors and such 2008 Make Good Shares shall be returned
        to the Make Good Pledgors in accordance with the Make Good Escrow Agreement.
        Any
        such
        transfer of the 2007 Make Good Shares or the 2008 Make Good Shares shall
        be made
        to the Investors or the Make Good Pledgors, as applicable, within 10
        Business
        Days after
        the date
which
        the
        2007
        Annual Report or 2008 Annual Report, as applicable, is filed with the
        Commission. Notwithstanding
        the foregoing, the parties agree that for purposes of determining whether
        or not
        the 2007 Guaranteed ATNI, the 2008 Guaranteed EPS or the 2008 Guaranteed
        ATNI
        have been achieved, (i) the release of the 2007 Make Good Shares or the 2008
        Make Good Shares to the Make Good Pledgors or any other Person designated
        by
        either of the Make Good Pledgors shall not be deemed to be an expense, charge,
        or other deduction from revenues even though GAAP may require contrary
        treatment, (ii) any
        registration liquidated damages (other than liquidated damages which may
        be
        owing by the Company due to the Company’s failure to file a Registration
        Statement by the applicable Filing Date (as defined in the Registration Rights
        Agreement)) accrued or paid by the Company for any registration rights will
        be
        excluded from the calculation of after-tax net income and earnings per share
        amounts, as applicable, and (iii) any increase in taxes payable by the Company
        or any Subsidiary as a result of recently adopted PRC tax laws or any related
        implementing regulations promulgated for the purpose of making more equal
        the
        tax treatment of foreign invested entities (including sino-foreign joint
        ventures) and domestic entities shall not be included as an
        expense.

       

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

       

      (b)  In
        connection with the foregoing,
        each
        Make Good Pledgor
        agrees
        that within three Trading Days following the Closing, the
        Make
        Good Pledgors will
        deposit all potential 2007 Make Good Shares and 2008 Make Good Shares into
        escrow in accordance with the Make Good Escrow Agreement along with bank
        signature stamped stock powers executed in blank (or such other signed
        instrument of transfer acceptable to the Company’s transfer agent), and the
        handling and disposition of the 2007 Make Good Shares and 2008 Make Good
        Shares
        shall be governed by this Section 4.11 and the Make Good Escrow
        Agreement.
        The
        Company shall notify the Investors in writing that the 2007 Make Good Shares
        and
        the 2008 Make Good Shares have been placed into escrow as required hereunder
        and
        in accordance with the Make Good Escrow Agreement within two Trading Days
        following the deposit of such 2007 Make Good Shares and 2008 Make Good Shares
        into escrow in accordance herewith and with the Make Good Escrow Agreement.
        Each
        Make
        Good Pledgor hereby agrees that its obligation to transfer shares of Common
        Stock to Investors pursuant to this Section 4.11 and the Make Good Escrow
        Agreement shall continue to run to the benefit of any Investor who shall
        have
        transferred or sold all or any portion of its Securities, and that each Investor
        shall have the right to retain, transfer or assign its rights to receive
        all or
        any 2007 Make Good Shares and/or 2008 Make Good Shares to other Persons in
        conjunction with negotiated sales or transfers of any of its
        Securities.

       

      
        
          
          

        

        
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      (c)  The
        Company covenants and agrees that upon any transfer of 2007 Make Good Shares
        or
        2008 Make Good Shares to the Investors in accordance with the Make Good Escrow
        Agreement, the Company shall promptly instruct its transfer agent to reissue
        such 2007 Make Good Shares or 2008 Make Good Shares in the applicable Investor’s
        name and deliver the same as directed by such Investor.

       

      (d)  If
        any
        term or provision of this Section 4.11 is in contradiction of or conflicts
        with
        any term or provision of the Make Good Escrow Agreement, the terms of the
        Make
        Good Escrow Agreement shall control. 

       

      4.12.  Independent
        Board of Directors.
        The
        Company covenants and agrees that no later than 120 days following the Closing
        Date, the Board of Directors of the Company shall be comprised of a minimum
        of
        five members, a majority of which shall be “independent directors” as such term
        is defined in NASDAQ Marketplace Rule 4200(a)(15).

       

      4.13.  Third
        Party Hiring. By the thirtieth day following the Closing Date, the Company
        shall hire (i) CCG Investor Relations as the Company’s investor relations firm
        and (ii) Thelen Reid Brown Raysman & Steiner LLP as the Company’s primary
        corporate legal counsel. 

       

      4.14.  Right
        of First Refusal. 

       

      (a)  From
        the
        date hereof until the one year anniversary of the Effective Date (the
        "Trigger
        Date"),
        the
        Company will not, directly or indirectly, offer, sell, grant any option to
        purchase, or otherwise dispose of (or announce any offer, sale, grant or
        any
        option to purchase or other disposition of) any of its or its Subsidiaries'
        equity or equity equivalent securities, including, without limitation, any
        debt,
        preferred stock or other instrument or security that is, at any time during
        its
        life and under any circumstances, convertible into or exchangeable or
        exercisable for shares of Common Stock or Common Stock Equivalents (any such
        offer, sale, grant, disposition or announcement being referred to as a
        "Subsequent
        Placement")
        unless
        the Company shall have first complied with this Section 4.14. 

       

      
        
          
          

        

        
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      (b)  The
        Company shall deliver to each Investor hereunder a written notice
        (the "Offer
        Notice")
        of any
        proposed or intended issuance or sale or exchange (the "Offer")
        of the
        securities being offered (the "Offered
        Securities")
        in a
        Subsequent Placement, which Offer Notice shall (w) identify and describe
        the
        Offered Securities, (x) describe the price and other terms upon which they
        are to be issued, sold or exchanged, and the number or amount of the Offered
        Securities to be issued, sold or exchanged, (y) identify the persons or
        entities (if known) to which or with which the Offered Securities are to
        be
        offered, issued, sold or exchanged and (z) offer to issue and sell to or
        exchange with such Investors all of the Offered Securities, allocated among
        such
        Investors (a) based on such Investor's pro rata portion of the total Investment
        Amount hereunder (the "Basic
        Amount"),
        and
        (b) with respect to each Investor that elects to purchase its Basic Amount,
        any
        additional portion of the Offered Securities attributable to the Basic Amounts
        of other Investors as such Investor shall indicate it will purchase or acquire
        should the other Investors subscribe for less than their Basic Amounts (the
        "Undersubscription
        Amount"),
        which
        process shall be repeated until the Investors shall have an opportunity to
        subscribe for any remaining Undersubscription Amount.

       

      (c)  To
        accept
        an Offer, in whole or in part, such Investor must deliver a written notice
        to
        the Company prior to the end of the fifth Business Day after such Investor's
        receipt of the Offer Notice (the "Offer
        Period"),
        setting forth the portion of such Investor's Basic Amount that such Investor
        elects to purchase and, if such Investor shall elect to purchase all of its
        Basic Amount, the Undersubscription Amount, if any, that such Investor elects
        to
        purchase (in either case, the "Notice
        of Acceptance").
        If
        the Basic Amounts subscribed for by all Investors are less than the total of all
        of the Basic Amounts, then each Investor who has set forth an Undersubscription
        Amount in its Notice of Acceptance shall be entitled to purchase, in addition
        to
        the Basic Amounts subscribed for, the Undersubscription Amount it has subscribed
        for; provided,
        however,
        that if
        the Undersubscription Amounts subscribed for exceed the difference between
        the
        total of all the Basic Amounts and the Basic Amounts subscribed for (the
        "Available
        Undersubscription Amount"),
        each
        Investor who has subscribed for any Undersubscription Amount shall be entitled
        to purchase only that portion of the Available Undersubscription Amount as
        the
        Basic Amount of such Investor bears to the total Basic Amounts of all Investors
        that have subscribed for Undersubscription Amounts, subject to rounding by
        the
        Company to the extent its deems reasonably necessary.

       

      (d)  The
        Company shall have twenty Business Days from the expiration of the Offer
        Period
        above to (i) offer, issue, sell or exchange all or any part of such Offered
        Securities as to which a Notice of Acceptance has not been given by the
        Investors (the "Refused
        Securities"),
        but
        only to the offerees described in the Offer Notice (if so described therein)
        and
        only upon terms and conditions (including, without limitation, unit prices
        and
        interest rates) that are not more favorable to the acquiring person or persons
        or less favorable to the Company than those set forth in the Offer Notice
        and
        (ii) to publicly announce (a) the execution of such Subsequent Placement
        Agreement (as defined below), and (b) either (x) the consummation of the
        transactions contemplated by such Subsequent Placement Agreement or (y) the
        termination of such Subsequent Placement Agreement, which shall be filed
        with
        the Commission on a Current Report on Form 8-K with such Subsequent Placement
        Agreement and any documents contemplated therein filed as exhibits thereto.
        If
        no disclosure has been made by the Company by the end of the twenty Business
        Day
        period referred to in this subsection (d), the Subsequent Placement shall
        be
        deemed to have been abandoned and the Investors shall no longer be deemed
        to be
        in possession of any non-public information with respect to the
        Company.

       

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

       

      (e)  In
        the
        event the Company shall propose to sell less than all the Refused Securities
        (any such sale to be in the manner and on the terms specified in this Section
        4.14), then each Investor may, at its sole option and in its sole discretion,
        reduce the number or amount of the Offered Securities specified in its Notice
        of
        Acceptance to an amount that shall be not less than the number or amount
        of the
        Offered Securities that such Investor elected to purchase pursuant to Section
        4.14(c) above multiplied by a fraction, (i) the numerator of which shall
        be the
        number or amount of Offered Securities the Company actually proposes to issue,
        sell or exchange (including Offered Securities to be issued or sold to Investors
        pursuant to Section 4.14(c) above prior to such reduction) and (ii) the
        denominator of which shall be the original amount of the Offered Securities.
        In
        the event that any Investor so elects to reduce the number or amount of Offered
        Securities specified in its Notice of Acceptance, the Company may not issue,
        sell or exchange more than the reduced number or amount of the Offered
        Securities unless and until such securities have again been offered to the
        Investors in accordance with Section 4.14(b) above.

       

      (f)  Upon
        the
        closing of the issuance, sale or exchange of all or less than all of the
        Refused
        Securities, the Investors shall acquire from the Company, and the Company
        shall
        issue to the Investors, the number or amount of Offered Securities specified
        in
        the Notices of Acceptance, as reduced pursuant to Section 4.14(e) above if
        the
        Investors have so elected, upon the terms and conditions specified in the
        Offer.
        The purchase by the Investors of any Offered Securities is subject in all
        cases
        to the preparation, execution and delivery by the Company and the Investors
        of a
        purchase agreement relating to such Offered Securities reasonably satisfactory
        in form and substance to the Investors and their respective counsel (such
        agreement, the “Subsequent
        Placement Agreement”).

       

      (g)  Any
        Offered Securities not acquired by the Investors or other persons in accordance
        with Section 4.14(f) above may not be issued, sold or exchanged until they
        are
        again offered to the Investors under the procedures specified in this
        Agreement.

       

      (h)  In
        exchange for the Company’s willingness to agree to these procedures, each
        Investor hereby irrevocably agrees that it will hold in strict confidence
        any
        and all Offer Notices, the information contained therein, and the fact that
        the
        Company is contemplating a Subsequent Placement, until such time as the Company
        is obligated to make the disclosures required by Section 4.14(d), or unless
        it
        notifies the Company in writing that it no longer desires to receive Offer
        Notices. 

       

      (i)  Notwithstanding
        the foregoing, this Section 4.14 shall not apply in respect of an Exempt
        Issuance.

       

      4.15.  Stockholder
        Approval.

       

      (a)  As
        soon
        as practicable following the Closing Date, but in any event within 60 days
        following the Closing, the Company covenants and agrees to obtain the approval
        of its stockholders in order to effectuate the Reverse Stock Split (the
“Stockholder
        Approval”).
        

       

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

       

      (b)  In
        furtherance of the obligations of the Company under Section 4.15(a), the
        Company
        shall obtain Stockholder Approval in connection with this Section 4.15, and
        in
        pursuit thereof (a) the Board of Directors of the Company shall adopt proper
        resolutions authorizing the actions set forth in subsection (a) above, (b)
        the
        Board of Directors of the Company shall recommend and the Company shall
        otherwise use its best efforts to promptly and duly obtain stockholder approval,
        including, without limitation, if necessary, soliciting proxies from its
        stockholders in connection therewith in the same manner as all other management
        proposals in such proxy statement and having all management-appointed
        proxy-holders vote their proxies in favor of such proposals to carry out
        such
        resolutions (and, if necessary, hold a special meeting of the stockholders
        as
        soon as practicable, but in any event not later than the 45th
        day
        after delivery of the proxy or other applicable materials relating to such
        meeting) and (c) within five Business Days of obtaining such stockholder
        authorization, take all actions necessary to effectuate the actions set forth
        in
        subsection (a) above.

       

      4.16.  Liquidated
        Damages for Governmental Rescission of Restructuring Transaction.
        If any
        governmental agency, quasi governmental agency, self-regulatory agency or
        other
        Person empowered under applicable law, rule or regulation in the PRC threatens
        or takes any action or fails for any reason to take any action that adversely
        affects the transactions contemplated by the Exchange Agreement, the option
        agreement or the related equity transfer and other agreements pursuant to
        which
        the Company’s indirect wholly-owned PRC Subsidiary, Oriental Intra-Asia, is
        acquiring the Interest, and the Company cannot undo such governmental action
        or
        otherwise address the adverse effect to the reasonable satisfaction of the
        Investors within ninety (90) days of the occurrence of such governmental
        action
        or inaction, then, upon written demand from an Investor, the Company shall
        promptly, and in any event within thirty (30) days from the date of such
        written
        demand, pay to that Investor, as liquidated damages, an amount equal to the
        product obtained by multiplying (a) the Purchase Price Per Share by (b) the
        number of Securities held by that Investor on the payment date (as equitably
        adjusted for any stock splits, stock combinations, recapitalizations or similar
        transactions). As a condition to the receipt of such payment, the Investor
        shall
        return to the Company for cancellation the certificates evidencing the
        Securities acquired by the Investor under the Agreement. This Section 4.16
        shall
        automatically expire on the second anniversary of the Closing Date.

       

      4.17.  Business
        Activities. So long as the Investors continue to own at least 25% of the
        Securities originally issued hereunder at the Closing, the Company shall
        not,
        and the Company shall not permit any of its Subsidiaries to, directly or
        indirectly, engage in any business other than a Related Business. 

       

      4.18.  AIC
        Registration. Within 30 days following the Closing Date, the Company’s PRC
        Subsidiary, Oriental Intra-Asia, shall deliver to the Investors evidence
        of the
        registration by the State Administration of Industry and Commerce of the
        transfer of Interest to such Subsidiary in accordance with the option and
        equity
        transfer agreement referred to in Section 5.1(i) below. 

       

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

       

      4.19.  Increase
        Registered Capital of Oriental Intra-Asia. 

       

      

      (a)  Within
        60
        days after the Closing, the Company will cause its Subsidiaries, Intra-Asia
        HK
        and Intra-Asia Samoa to fully make their respective capital contribution
        in the
        aggregate amount of $5.10MM into Oriental Intra-Asia. Further, the Company
        will
        promptly cause Oriental Intra-Asia to promptly cause PKU (and by its execution
        hereof, PKU covenants and agrees), to promptly file all necessary and
        appropriate documents, applications and other items with competent PRC
        governmental authorities in order to obtain the approval certificate and
        business license which reflects the increase of the registered capital of
        PKU
        from RMB 20 Million to RMB 60 Million, in any event no later than 60 days
        after
        the Closing.

       

      (b)  Within
        10
        days of receipt of final approval from competent PRC governmental authorities
        for the increase of the registered capital of PKU, as contemplated in Section
        4.19(a) (with written evidence thereof immediately provided to the Investors),
        the Company will immediately cause Oriental Intra-Asia to contribute such
        amount
        of the increase (which shall be $5.10MM) into PKU, such that Oriental
        Intra-Asia’s percentage equity ownership of PKU will increase from 85% to
        95%.

       

      (c)  Within
        30
        days of such contribution by Oriental Intra-Asia to the registered capital
        of
        PKU (as contemplated in Section 4.19(b)), the Company will cause PKU (and
        by its
        execution hereof, PKU covenants and agrees) to immediately apply for and
        obtain
        (with written evidence thereof immediately provided to the Investors) an
        amended
        business license for PKU reflecting both (i) the increased registered capital
        of
        PKU (as contemplated in Section 4.19(a)) and (ii) the new ownership percentages
        of the equity holders of PKU which, for the avoidance of doubt, shall be
        95%, in
        any event no later than 30 days of such contribution by Oriental Intra-Asia.
        

       

      (d) Until
        the
        earlier of (i) the termination of the Make Good Agreement or (ii) the complete
        and final satisfaction by the Company and its Subsidiaries of the
        actions and obligations set forth in this Section 4.19 (with
        written evidence thereof promptly delivered to the Investors by the Company),
        neither the Company nor any Subsidiary shall directly or indirectly buy back,
        redeem or purchase any equity of the Company, any Subsidiary or any shareholder
        thereof. 

       

      ARTICLE
        5.

      CONDITIONS
        PRECEDENT TO CLOSING

       

      5.1.  Conditions
        Precedent to the Obligations of the Investors to Purchase Securities.
        The
        obligation of each Investor to acquire Securities at the Closing is subject
        to
        the satisfaction or waiver by such Investor, at or before the Closing, of
        each
        of the following conditions:

       

      (a)  Representations
        and Warranties.
        The
        representations and warranties of the Company and the Selling Stockholders
        contained herein shall be true and correct in all material respects as of
        the
        date when made and as of the Closing as though made on and as of such
        date;

       

      (b)  Performance.
        Each of
        the Company and the Selling Stockholders shall have performed, satisfied
        and
        complied in all material respects with all covenants, agreements and conditions
        required by the Transaction Documents to be performed, satisfied or complied
        with by it at or prior to the Closing;

       

      
        
          
          

        

        
          32

          
            

          

        

        
          
          

        

      

       

      (c)  No
        Injunction.
        No
        statute, rule, regulation, executive order, decree, ruling or injunction
        shall
        have been enacted, entered, promulgated or endorsed by any court or governmental
        authority of competent jurisdiction that prohibits the consummation of any
        of
        the transactions contemplated by the Transaction Documents;

       

      (d)  Adverse
        Changes.
        Since
        the date of execution of this Agreement, no event or series of events shall
        have
        occurred that reasonably could have or result in a Material Adverse Effect
        or a
        material adverse change with respect to the Subsidiaries;

       

      (e)  PKU
        Financial Statements.
        PKU
        shall have completed and delivered audited consolidated financial statements
        for
        the fiscal years ended December 31, 2005 and 2006 to the Company and the
        Investors and shall have received an audit report from an independent audit
        firm
        that is registered with the Public Company Accounting Oversight Board relating
        to the fiscal years ended December 31, 2005 and 2006, a copy of which shall
        be
        promptly provided to the Investors (collectively, the “PKU
        Financial Statements”);
        

       

      (f)  PRC
        and BVI Opinions.
        The
        Company shall have delivered to the Investors, and the Investors shall be
        able
        to rely upon, the legal opinions that the Company and or its Subsidiaries
        shall
        have received from its legal counsel in the PRC and in the British Virgin
        Islands, with such legal opinions being in a form acceptable to the Investors
        in
        their sole discretion;

       

      (g)  Exchange
        Agreement Form 8-K.
        Concurrently with or immediately prior to the Closing, the Company shall
        have
        acquired all of the outstanding capital stock of Cabowise pursuant to the
        Exchange Agreement, and the Company shall provide the Investors with the
        Current
        Report on Form 8-K to be filed in accordance with the Exchange Agreement,
        containing the audited financial statements of PKU and other required disclosure
        with respect to the Company and its Subsidiaries; 

       

      (h)  Derivative
        Securities.
        Any
        issued and outstanding options, convertible notes or other securities of
        the
        Company that are exercisable or exchangeable for or convertible into Common
        Stock shall have been exercised, converted or exchanged for Common Stock
        in a
        manner satisfactory to the Investors; 

       

      (i)  Exercise
        of Option.
        Cabowise shall have assigned that certain option to acquire an 85% equity
        interest (the “Interest”)
        in PKU
        (pursuant to an assignment agreement that is in form and substance reasonably
        satisfactory to the Investors) to the Company’s indirect wholly-owned PRC
        Subsidiary, Oriental Intra-Asia, and Oriental Intra-Asia shall have exercised
        such option, entered into an equity transfer agreement (in form and substance
        reasonably satisfactory to the Investors) with the grantors named in the
        option,
        paid the full amount of the purchase price payable to such grantors under
        the
        option and such equity transfer agreement and become the sole record and
        beneficial owner of the Interest free and clear of any Liens;

       

      (j)  Company
        Deliverables.
        The
        Company shall have delivered the Company Deliverables in accordance with
        Section
        2.2(a);

       

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

       

      (k)  Cancellation
        of Common Stock.
        A total
        of 15,328,369 shares of Common Stock, in the aggregate, held by Weicheng
        International Inc., a California corporation (“Weicheng”)
        shall
        have been cancelled and Weicheng and Foster Growth Ltd., a BVI company
        (“Foster”)
        shall
        have delivered to the Company a Cancellation Agreement (the “Cancellation
        Agreement”)
        containing a release and such other provisions as are satisfactory to the
        Investors. All of the transactions contemplated by the Cancellation Agreement
        shall have been consummated. A copy of the Cancellation Agreement shall be
        promptly provided to the Investors;

       

      (l)  Related
        Business.
        Since
        the date of execution of this Agreement, neither the Company nor any of its
        Subsidiaries has, directly or indirectly, engaged in any business other than
        a
        Related Business;

       

      (m)  Cash.
        As of
        the Closing Date, the Company will have cash or highly liquid debt securities
        with insignificant interest rate risk and with original maturities from the
        date
        of purchase of approximately three months or less on hand of not less than
        $$9,308,298; and

       

      (n)  Termination.
        This
        Agreement shall not have been terminated as to such Investor in accordance
        with
        Section 6.5.

       

      5.2.  Conditions
        Precedent to the Obligations of the Company and
        the
        Selling Stockholders to Sell Securities.
        The
        obligation of the Company and the Selling Stockholders to sell Securities
        at the
        Closing is subject to the satisfaction or waiver by the Company, at or before
        the Closing, of each of the following conditions:

       

      (a)  Representations
        and Warranties.
        The
        representations and warranties of each Investor contained herein shall be
        true
        and correct in all material respects as of the date when made and as of the
        Closing Date as though made on and as of such date;

       

      (b)  Performance.
        Each
        Investor shall have performed, satisfied and complied in all material respects
        with all covenants, agreements and conditions required by the Transaction
        Documents to be performed, satisfied or complied with by such Investor at
        or
        prior to the Closing;

       

      (c)  No
        Injunction.
        No
        statute, rule, regulation, executive order, decree, ruling or injunction
        shall
        have been enacted, entered, promulgated or endorsed by any court or governmental
        authority of competent jurisdiction that prohibits the consummation of any
        of
        the transactions contemplated by the Transaction Documents;

       

      (d)  Investors
        Deliverables.
        Each
        Investor shall have delivered its Investors Deliverables in accordance with
        Section 2.2(b); and

       

      (e) Termination.
        This
        Agreement shall not have been terminated as to such Investor in accordance
        with
        Section 6.5.

       

      
        
          
          

        

        
          34

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        6.

      MISCELLANEOUS

       

      6.1.  Fees
        and Expenses.
        At the
        Closing, the Company shall pay to Bryan Cave LLP $65,000.00 (minus any amounts
        previously paid) as reimbursement of Pinnacle China Fund, L.P. and The Pinnacle
        Fund, L.P. for their respective legal fees in connection with the Transaction
        Documents (either of Pinnacle China Fund, L.P. or The Pinnacle Fund, L.P.
        may
        deduct such amount from the Investment Amount deliverable to the Company
        at
        Closing), it being understood that Bryan Cave LLP has only rendered legal
        advice
        to Pinnacle China Fund, L.P. and The Pinnacle Fund, L.P., and not to the
        Company, any placement agent, or any other Investor in connection with the
        transactions contemplated hereby, and that each of the Company, any placement
        agent and the other Investors has relied for such matters on the advice of
        its
        own respective counsel. Except as specified in the immediately preceding
        sentence, each party shall pay the fees and expenses of its advisers, counsel,
        accountants and other experts, if any, and all other expenses incurred by
        such
        party incident to the negotiation, preparation, execution, delivery and
        performance of the Transaction Documents. The Company shall pay all stamp
        and
        other taxes and duties levied in connection with the sale of the
        Securities.

       

      6.2.  Entire
        Agreement.
        The
        Transaction Documents, together with the Exhibits and Schedules thereto,
        contain
        the entire understanding of the parties with respect to the subject matter
        hereof and supersede all prior agreements, understandings, discussions and
        representations, oral or written, with respect to such matters, which the
        parties acknowledge have been merged into such documents, exhibits and
        schedules.

       

      6.3.  Notices.
        Any and
        all notices or other communications or deliveries required or permitted to
        be
        provided hereunder shall be in writing and shall be deemed given and effective
        on the earliest of (a) the date of transmission, if such notice or communication
        is delivered via facsimile (provided the sender receives a machine-generated
        confirmation of successful transmission) at the facsimile number specified
        in
        this Section prior to 6:30 p.m. (New York City time) on a Trading Day, (b)
        the
        next Trading Day after the date of transmission, if such notice or communication
        is delivered via facsimile at the facsimile number specified in this Section
        on
        a day that is not a Trading Day or later than 6:30 p.m. (New York City time)
        on
        any Trading Day, or (c) upon actual receipt by the party to whom such notice
        is
        required to be given, if sent by any means other than facsimile transmission.
        The address for such notices and communications shall be as
        follows:

       

      
        	If to the Company:	Intra-Asia Entertainment
                Corporation 
                No.
                  113 Zhichunlu, Haidian District

                Beijing,
                  China 100086

                Facsimile:
                  86-10-62637657

                Attn.:
                  Chairman

              
	 	 
	With a copy to:	
                Thelen
                  Reid Brown Raysman & Steiner LLP

                701
                  8th
                  Street NW

                Washington,
                  D.C. 20001

                Facsimile:
                  (202) 508-4321

                Attn.:
                  Louis A. Bevilacqua, Esq.

              

      

       

      
        
          
          

        

        
          35

          
            

          

        

        
          
          

        

      

       

      
        	If to Cabowise:	
                Cabowise
                  International Ltd.

                717
                  Tower B, E-Wing Center

                113
                  Zhichunlu, Haidian District, Beijing, 100086

                Attention:
                  Shudong Xia

              
	 	 
	With a copy to:	
                Thelen
                  Reid Brown Raysman & Steiner LLP

                701
                  8th
                  Street NW

                Washington,
                  D.C. 20001

                Facsimile:
                  (202) 508-4321

                Attn.:
                  Louis A. Bevilacqua, Esq.

              
	 	 
	If to PKU:	
                PKU
                  Chinafront High Technology Co., Ltd.

                Rm717,
                  Tower B, YinWang Building, ZhiChun Rd. Beijing
                  100086

                Facsimile:
                  86-10-62637657

                Attn.:
                  Shudong Xia

              
	 	 
	With a copy to:	
                Thelen
                  Reid Brown Raysman & Steiner LLP

                701
                  8th
                  Street NW

                Washington,
                  D.C. 20001

                Facsimile:
                  (202) 508-4321

                Attn.:
                  Louis A. Bevilacqua, Esq.

              
	 	 
	If to a Selling
                Stockholder:	To the address set forth
                under
                such Selling Stockholder’s name
                on the signature pages hereof;
	 	 
	If to an Investor:	To the address set forth
                under
                such Investor’s name on the signature pages
                hereof;

      

       

      or
        such
        other address as may be designated in writing hereafter, in the same manner,
        by
        such Person.

       

      6.4.  Amendments;
        Waivers; No Additional Consideration.
        No
        provision of this Agreement may be waived or amended except in a written
        instrument signed by the Company and the Investors holding a majority of
        the
        Securities and, prior to Closing, the Selling Stockholders. In addition,
        Sections 3.3, 4.7(b) and Article VI may not be waived or amended except in
        a
        written instrument signed by the Investors holding a majority of the Securities,
        the Company and the Selling Stockholders. No waiver of any default with respect
        to any provision, condition or requirement of this Agreement shall be deemed
        to
        be a continuing waiver in the future or a waiver of any subsequent default
        or a
        waiver of any other provision, condition or requirement hereof, nor shall
        any
        delay or omission of either party to exercise any right hereunder in any
        manner
        impair the exercise of any such right. No consideration shall be offered
        or paid
        to any Investor to amend or consent to a waiver or modification of any provision
        of any Transaction Document unless the same consideration is also offered
        to all
        Investors who then hold Securities.

       

      
        
          
          

        

        
          36

          
            

          

        

        
          
          

        

      

       

      6.5.  Termination.
        This
        Agreement may be terminated prior to Closing:

       

      (a)  by
        written agreement of the Investors and the Company; and

       

      (b)  by
        the
        Company, the Selling Stockholder (as to itself but no other Selling
        Stockholder), or an Investor (as to itself but no other Investor) upon written
        notice to the other, if the Closing shall not have taken place by 6:30 p.m.
        Eastern time on the Outside Date; provided,
        that
        the right to terminate this Agreement under this Section 6.5(b) shall not
        be available to any Person whose failure to comply with its obligations under
        this Agreement has been the cause of or resulted in the failure of the Closing
        to occur on or before such time.

       

      In
        the
        event of a termination pursuant to Section 6.5(a) upon delivery of a joint
        written notice from the Company and the Investors to the Escrow Agent or
        in the
        event of a termination pursuant to Section 6.5(b) upon delivery of written
        notice by the applicable party to the Escrow Agent, an Investor shall have
        the
        right to a return of up to its entire Investment Amount deposited with the
        Escrow Agent pursuant to Section 2.2(b)(i), without interest or deduction.
        The
        Company covenants and agrees to cooperate with such Investor in obtaining
        the
        return of its Investment Amount, and shall not communicate any instructions
        to
        the contrary to the Escrow Agent.

       

      In
        the
        event of a termination pursuant to this Section, the Company shall promptly
        notify all non-terminating Investors. Upon a termination in accordance with
        this
        Section 6.5, the Company, terminating Selling Stockholder(s) and terminating
        Investor(s) shall not have any further obligation or liability (including
        as
        arising from such termination) to the other and no Investor will have any
        liability to any other Investor under the Transaction Documents as a result
        therefrom.

       

      6.6.  Construction.
        The
        headings herein are for convenience only, do not constitute a part of this
        Agreement and shall not be deemed to limit or affect any of the provisions
        hereof. The language used in this Agreement will be deemed to be the language
        chosen by the parties to express their mutual intent, and no rules of strict
        construction will be applied against any party. This Agreement shall be
        construed as if drafted jointly by the parties, and no presumption or burden
        of
        proof shall arise favoring or disfavoring any party by virtue of the authorship
        of any provisions of this Agreement or any of the Transaction
        Documents.

       

      6.7.  Successors
        and Assigns.
        This
        Agreement shall be binding upon and inure to the benefit of the parties and
        their successors and permitted assigns. Neither the Company nor the Selling
        Stockholders may assign this Agreement or any rights or obligations hereunder
        without the prior written consent of the Investors. Any Investor may assign
        any
        or all of its rights under this Agreement to any Person to whom such Investor
        assigns or transfers any Securities, provided such transferee agrees in writing
        to be bound, with respect to the transferred Securities, by the provisions
        hereof that apply to the “Investors.”

       

      6.8.  No
        Third-Party Beneficiaries.
        This
        Agreement is intended for the benefit of the parties hereto and their respective
        successors and permitted assigns and is not for the benefit of, nor may any
        provision hereof be enforced by, any other Person, except as otherwise set
        forth
        in Section 4.7 (as to each Investor Party).

       

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

       

      6.9.  Governing
        Law.
        All
        questions concerning the construction, validity, enforcement and interpretation
        of this Agreement shall be governed by and construed and enforced in accordance
        with the internal laws of the State of New York, without regard to the
        principles of conflicts of law thereof. Each party agrees that all Proceedings
        concerning the interpretations, enforcement and defense of the transactions
        contemplated by this Agreement and any other Transaction Documents (whether
        brought against a party hereto or its respective Affiliates, employees or
        agents) shall be commenced exclusively in the New York Courts. Each party
        hereto
        hereby irrevocably submits to the exclusive jurisdiction of the New York
        Courts
        for the adjudication of any dispute hereunder or in connection herewith or
        with
        any transaction contemplated hereby or discussed herein (including with respect
        to the enforcement of the any of the Transaction Documents), and hereby
        irrevocably waives, and agrees not to assert in any Proceeding, any claim
        that
        it is not personally subject to the jurisdiction of any such New York Court,
        or
        that such Proceeding has been commenced in an improper or inconvenient forum.
        Each party hereto hereby irrevocably waives personal service of process and
        consents to process being served in any such Proceeding by mailing a copy
        thereof via registered or certified mail or overnight delivery (with evidence
        of
        delivery) to such party at the address in effect for notices to it under
        this
        Agreement and agrees that such service shall constitute good and sufficient
        service of process and notice thereof. Nothing contained herein shall be
        deemed
        to limit in any way any right to serve process in any manner permitted by
        law.
        Each party hereto hereby irrevocably waives, to the fullest extent permitted
        by
        applicable law, any and all right to trial by jury in any legal proceeding
        arising out of or relating to this Agreement or the transactions contemplated
        hereby. If either party shall commence a Proceeding to enforce any provisions
        of
        a Transaction Document, then the prevailing party in such Proceeding shall
        be
        reimbursed by the other party for its reasonable attorneys’ fees and other costs
        and expenses incurred with the investigation, preparation and prosecution
        of
        such Proceeding.

       

      6.10.  Survival.
        The
        representations, warranties, agreements and covenants contained herein shall
        survive the Closing and the delivery of the Securities.

       

      6.11.  Execution.
        This
        Agreement may be executed in two or more counterparts, all of which when
        taken
        together shall be considered one and the same agreement and shall become
        effective when counterparts have been signed by each party and delivered
        to the
        other party, it being understood that both parties need not sign the same
        counterpart. In the event that any signature is delivered by facsimile
        transmission, such signature shall create a valid and binding obligation
        of the
        party executing (or on whose behalf such signature is executed) with the
        same
        force and effect as if such facsimile signature page were an original
        thereof.

       

      6.12.  Severability.
        If any
        provision of this Agreement is held to be invalid or unenforceable in any
        respect, the validity and enforceability of the remaining terms and provisions
        of this Agreement shall not in any way be affected or impaired thereby and
        the
        parties will attempt to agree upon a valid and enforceable provision that
        is a
        reasonable substitute therefor, and upon so agreeing, shall incorporate such
        substitute provision in this Agreement.

       

      6.13.  Rescission
        and Withdrawal Right.
        Notwithstanding anything to the contrary contained in (and without limiting
        any
        similar provisions of) the Transaction Documents, whenever any Investor
        exercises a right, election, demand or option under a Transaction Document
        and
        the Company does not timely perform its related obligations within the periods
        therein provided, then such Investor may rescind or withdraw, in its sole
        discretion from time to time upon written notice to the Company, any relevant
        notice, demand or election in whole or in part without prejudice to its future
        actions and rights.

       

      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

       

      6.14.  Replacement
        of Securities.
        If any
        certificate or instrument evidencing any Securities is mutilated, lost, stolen
        or destroyed, the Company shall issue or cause to be issued in exchange and
        substitution for and upon cancellation thereof, or in lieu of and substitution
        therefor, a new certificate or instrument, but only upon receipt of evidence
        reasonably satisfactory to the Company of such loss, theft or destruction
        and
        customary and reasonable indemnity, if requested. The applicants for a new
        certificate or instrument under such circumstances shall also pay any reasonable
        third-party costs associated with the issuance of such replacement Securities.
        If a replacement certificate or instrument evidencing any Securities is
        requested due to a mutilation thereof, the Company may require delivery of
        such
        mutilated certificate or instrument as a condition precedent to any issuance
        of
        a replacement.

       

      6.15.  Remedies.
        In
        addition to being entitled to exercise all rights provided herein or granted
        by
        law, including recovery of damages, each of the Investors, the Company and
        the
        Selling Stockholders will be entitled to specific performance under the
        Transaction Documents. The parties agree that monetary damages may not be
        adequate compensation for any loss incurred by reason of any breach of
        obligations described in the foregoing sentence and hereby agrees to waive
        in
        any action for specific performance of any such obligation the defense that
        a
        remedy at law would be adequate.

       

      6.16.  Payment
        Set Aside.
        To the
        extent that the Company or any Selling Stockholder makes a payment or payments
        to any Investor pursuant to any Transaction Document or an Investor enforces
        or
        exercises its rights thereunder, and such payment or payments or the proceeds
        of
        such enforcement or exercise or any part thereof are subsequently invalidated,
        declared to be fraudulent or preferential, set aside, recovered from, disgorged
        by or are required to be refunded, repaid or otherwise restored to the Company
        or such Selling Stockholder, a trustee, receiver or any other person under
        any
        law (including, without limitation, any bankruptcy law, state or federal
        law,
        common law or equitable cause of action), then to the extent of any such
        restoration the obligation or part thereof originally intended to be satisfied
        shall be revived and continued in full force and effect as if such payment
        had
        not been made or such enforcement or setoff had not occurred.

       

      6.17.  Independent
        Nature of Investors’
        Obligations and Rights.
        The
        obligations of each Investor under any Transaction Document are several and
        not
        joint with the obligations of any other Investor, and no Investor shall be
        responsible in any way for the performance of the obligations of any other
        Investor under any Transaction Document. The decision of each Investor to
        purchase Securities pursuant to the Transaction Documents has been made by
        such
        Investor independently of any other Investor. Nothing contained herein or
        in any
        Transaction Document, and no action taken by any Investor pursuant thereto,
        shall be deemed to constitute the Investors as a partnership, an association,
        a
        joint venture or any other kind of entity, or create a presumption that the
        Investors are in any way acting in concert or as a group with respect to
        such
        obligations or the transactions contemplated by the Transaction Documents.
        Each
        Investor acknowledges that no other Investor has acted as agent for such
        Investor in connection with making its investment hereunder and that no Investor
        will be acting as agent of such Investor in connection with monitoring its
        investment in the Securities or enforcing its rights under the Transaction
        Documents. Each Investor shall be entitled to independently protect and enforce
        its rights, including without limitation the rights arising out of this
        Agreement or out of the other Transaction Documents, and it shall not be
        necessary for any other Investor to be joined as an additional party in any
        proceeding for such purpose. Each of the Company and the Selling Stockholders
        acknowledge that each of the Investors has been provided with the same
        Transaction Documents for the purpose of closing a transaction with multiple
        Investors and not because it was required or requested to do so by any
        Investor.

       

      
        
          
          

        

        
          39

          
            

          

        

        
          
          

        

      

       

      6.18.  Limitation
        of Liability.
        Notwithstanding anything herein to the contrary, each of the Company and
        the
        Selling Stockholders acknowledge and agree that the liability of an Investor
        arising directly or indirectly, under any Transaction Document of any and
        every
        nature whatsoever shall be satisfied solely out of the assets of such Investor,
        and that no trustee, officer, other investment vehicle or any other Affiliate
        of
        such Investor or any investor, shareholder or holder of shares of beneficial
        interest of such a Investor shall be personally liable for any liabilities
        of
        such Investor.

       

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK

      SIGNATURE
        PAGES FOLLOW]

       

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have caused this Securities Purchase
        Agreement to be duly executed by their respective authorized signatories
        as of
        the date first indicated above.

       

      INTRA-ASIA
        ENTERTAINMENT CORPORATION

       

      By:______________________________

      Name:

      Title:

      

      CABOWISE
        INTERNATIONAL LTD.

       

      By:______________________________

      Name:

      Title:

      

      PKU
        CHINAFRONT HIGH TECHNOLOGY CO., LTD.

       

      By:______________________________

      Name:

      Title:

      

      Only
        as to Section 4.11 herein:

       

      KARMEN
        INVESTMENT HOLDINGS LTD.

      

      

      By:______________________________

      Name:

      Title:

      

      

      LEGUNA
        VERDE INVESTMENTS LTD.

      

      

      By:______________________________

      Name:

      Title:

      

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK

      SIGNATURE
        PAGE FOR SELLING STOCKHOLDERS FOLLOWS]

       

      
        
          
          

        

        
          41

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties have executed this Securities Purchase Agreement
        as
        of the date first written above.

       

      NAME
        OF SELLING STOCKHOLDER

       

      ______________________________________  

      Name: 

       

      Tax
        ID
        No.: _____________________________

      

      NUMBER
        OF SELLING STOCKHOLDER SHARES

       

      ______________________________________ 

       

      ADDRESS
        FOR NOTICE

       

      c/o:___________________________________

       

      Street:_________________________________

       

      City/State/Zip:___________________________

       

      Attention:______________________________

       

      Tel:___________________________________

       

      Fax:___________________________________

       

      Email:_________________________________

       

      

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK 

      SIGNATURE
        PAGES FOR INVESTORS FOLLOW]

      
        
          
          

        

        
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      IN
        WITNESS WHEREOF, the parties hereto have caused this Securities Purchase
        Agreement to be duly executed by their respective authorized signatories
        as of
        the date first indicated above.

       

      NAME
        OF INVESTOR

       

      _________________________________________

       

      By:______________________________________

      Name:

      Title: 

       

      Investment
        Amount: $_______________________

       

      Tax
        ID
        No.:________________________________

       

      ADDRESS
        FOR NOTICE

       

      c/o:_____________________________________

       

      Street:___________________________________

       

      City/State/Zip:_____________________________

       

      Attention:________________________________

       

      Tel:_____________________________________

       

      Fax:_____________________________________

       

      DELIVERY
        INSTRUCTIONS

      (if
        different from above)

       

      
        c/o:_____________________________________

         

        Street:___________________________________

         

        City/State/Zip:_____________________________

         

        Attention:________________________________

         

        Tel:_____________________________________

         

        
          
            
            

          

          
            43

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