Document:

Exhibit 10.67

                               SUBSIDIARY GUARANTY

New York, New York                                             November 20, 2003

         FOR VALUE RECEIVED,  and in consideration of note purchases from, loans
made or to be made or credit  otherwise  extended  or to be  extended  by Laurus
Master  Fund,  Ltd.  ("Laurus")  to or  for  the  account  of  Ventures-National
Incorporated d/b/a Titan General Holdings, Inc. ("Debtor") from time to time and
at any time and for other good and valuable  consideration and to induce Laurus,
in its  discretion,  to purchase  such notes,  make such loans or  extensions of
credit and to make or grant such renewals, extensions, releases of collateral or
relinquishments  of legal  rights  as  Laurus  may deem  advisable,  each of the
undersigned  (and  each of them if more  than  one,  the  liability  under  this
Guaranty  being  joint  and  several)  (jointly  and  severally  referred  to as
"Guarantors " or "the  undersigned")  unconditionally  guaranties to Laurus, its
successors,  endorsees  and  assigns  the prompt  payment  when due  (whether by
acceleration or otherwise) of all present and future obligations and liabilities
of any and all kinds of Debtor to Laurus  and of all  instruments  of any nature
evidencing or relating to any such obligations and liabilities upon which Debtor
or one or more  parties  and Debtor is or may become  liable to Laurus,  whether
incurred  by  Debtor  as  maker,  endorser,   drawer,  acceptor,   guarantors  ,
accommodation  party or otherwise,  and whether due or to become due, secured or
unsecured,  absolute or  contingent,  joint or several,  and however or whenever
acquired by Laurus,  whether  arising under,  out of, or in connection with that
certain SECURITIES PURCHASE AGREEMENT dated as of the date hereof by and between
Debtor and Laurus (the "Securities  Purchase  Agreement"),  that certain SECURED
CONVERTIBLE  NOTE dated as of the date  hereof made by Debtor in favor of Laurus
(the "Term  Note"),  THE  WARRANT  dated as of the date hereof made by Debtor in
favor of Laurus in connection with the Term Note (the "Term Note Warrant"), that
certain REGISTRATION RIGHTS AGREEMENT dated as of the date hereof by and between
Debtor and Laurus in connection with the Term Note (the "Term Note  Registration
Rights Agreement"),  that certain SECURITY AGREEMENT dated as of the date hereof
by and  between  Debtor and Laurus  (the  "Security  Agreement"),  that  certain
SECURED  REVOLVING  NOTE dated as of the date  hereof made by Debtor in favor of
Laurus  (the  "Revolving  Note"),   that  certain  SECURED  CONVERTIBLE  MINIMUM
BORROWING  NOTE  dated as of the date  hereof  made by Debtor in favor of Laurus
(the "MB Note"), THE WARRANT dated as of the date hereof made by Debtor in favor
of Laurus in  connection  with the MB Note (the "MB  Warrant"),  or that certain
REGISTRATION  RIGHTS AGREEMENT dated as of the date hereof by and between Debtor
and  Laurus  in  connection  with  the MB  Note  (the  "MB  Registration  Rights
Agreement")  (the Securities  Purchase  Agreement,  the Term Note, the Term Note
Warrant and the Term Note Registration Rights Agreement, the Security Agreement,
the Revolving Note, the MB Note, the MB Warrant and the MB  Registration  Rights
Agreement as each may be amended,  modified,  restated or supplemented from time
to time,  are  collectively  referred  to  herein  as the  "Documents"),  or any
documents,  instruments or agreements relating to or executed in connection with
the Documents or any documents, instruments or agreements referred to therein or
otherwise   (all  of  which  are  herein   collectively   referred   to  as  the
"Obligations"),  and  irrespective of the genuineness,  validity,  regularity or
enforceability of such Obligations,  or of any instrument  evidencing any of the
Obligations or of any collateral  therefor or of the existence or extent of such
collateral,  and irrespective of the allowability,  allowance or disallowance of
any or all of the  Obligations  in any case commenced by or against Debtor under
Title 11, United States Code,  including,  without  limitation,  obligations  or
indebtedness of Debtor for post-petition interest,  fees, costs and charges that
would have accrued or been added to the Obligations but for the  commencement of
such case. In  furtherance of the foregoing,  the  undersigned  hereby agrees as
follows:

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

         2. GUARANTY ABSOLUTE.  Subject to Section 5(c), each of the undersigned
jointly and severally  guarantees that the Obligations  will be paid strictly in
accordance with the terms of the Documents and/or any other document, instrument
or agreement  creating or  evidencing  the  Obligations,  regardless of any law,
regulation or order now or hereafter in effect in any jurisdiction affecting any
of such terms or the rights of Debtor with respect  thereto.  Guarantors  hereby
knowingly  accept  the full  range of risk  encompassed  within  a  contract  of
"continuing  guaranty"  which risk  includes  the  possibility  that Debtor will
contract  additional  indebtedness  for which Guarantors may be liable hereunder
after Debtor's financial  condition or ability to pay its lawful debts when they
fall  due has  deteriorated,  whether  or not  Debtor  has  properly  authorized
incurring such additional indebtedness.  The undersigned acknowledge that (i) no
oral representations,  including any representations to extend credit or provide
other financial accommodations to Debtor, have been made by Laurus to induce the
undersigned  to enter into this Guaranty and (ii) any extension of credit to the
Debtor  shall  be  governed  solely  by the  provisions  of the  Documents.  The
liability of each of the  undersigned  under this Guaranty shall be absolute and
unconditional,  in accordance with its terms, and shall remain in full force and
effect  without  regard to, and shall not be  released,  suspended,  discharged,
terminated or otherwise affected by, any circumstance or occurrence  whatsoever,
including,  without limitation: (a) any waiver, indulgence,  renewal, extension,
amendment or modification  of or addition,  consent or supplement to or deletion
from or any other action or inaction under or in respect of the Documents or any
other instruments or agreements relating to the Obligations or any assignment or
transfer of any thereof,  (b) any lack of validity or enforceability of any Loan
Document  or  other  documents,   instruments  or  agreements  relating  to  the
Obligations or any assignment or transfer of any thereof,  (c) any furnishing of
any additional  security to Laurus or its assignees or any acceptance thereof or
any release of any security by Laurus or its  assignees,  (d) any  limitation on
any party's  liability or obligation under the Documents or any other documents,
instruments  or  agreements  relating to the  Obligations  or any  assignment or
transfer of any thereof or any  invalidity or  unenforceability,  in whole or in
part, of any such document, instrument or agreement or any term thereof, (e) any
bankruptcy, insolvency,  reorganization,  composition,  adjustment, dissolution,
liquidation  or other like  proceeding  relating to Debtor,  or any action taken
with respect to this  Guaranty by any trustee or receiver,  or by any court,  in
any such  proceeding,  whether  or not the  undersigned  shall  have  notice  or
knowledge of any of the foregoing, (f) any exchange, release or nonperfection of
any  collateral,  or any  release,  or  amendment  or  waiver of or  consent  to
departure from any guaranty or security, for all or any of

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the Obligations or (g) any other circumstance which might otherwise constitute a
defense  available to, or a discharge of, the undersigned.  Any amounts due from
the  undersigned  to Laurus shall bear  interest  until such amounts are paid in
full at the highest rate then applicable to the Obligations. Obligations include
post-petition interest whether or not allowed or allowable.

         3.  WAIVERS.

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

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

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

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         subject to the  provisions  of the  Documents.  Any and all present and
         future debts and  obligations of Debtor to any of the  undersigned  are
         hereby waived and postponed in favor of, and  subordinated  to the full
         payment  and   performance   of,  all  present  and  future  debts  and
         Obligations of Debtor to Laurus.

         4. SECURITY.  All sums at any time to the credit of the undersigned and
any property of the  undersigned  in Laurus'  possession or in the possession of
any bank,  financial  institution  or other entity that directly or  indirectly,
through one or more  intermediaries,  controls or is controlled  by, or is under
common control with, Laurus (each such entity,  an "Affiliate")  shall be deemed
held by Laurus or such  Affiliate,  as the case may be, as security  for any and
all of the  undersigned's  obligations to Laurus and to any Affiliate of Laurus,
no matter how or when  arising and whether  under this or any other  instrument,
agreement  or  otherwise.  Notwithstanding  anything to the  contrary  contained
herein,  the security  interest granted to Laurus shall consist of all accounts,
inventory,   equipment,  goods,  documents,   instruments  (including,   without
limitation,  promissory notes), contract rights, general intangibles (including,
without  limitation,  payment  intangibles  and an absolute  right to license on
terms no less favorable than those current in effect among our  affiliates,  but
not  own  intellectual   property),   chattel  paper,   supporting  obligations,
investment  property,  letter-of-credit  rights,  trademarks and tradestyles] in
which we now have or hereafter  may acquire any right,  title or  interest,  all
proceeds  and  products  thereof  (including,  without  limitation,  proceeds of
insurance with respect thereto) and all additions,  accessions and substitutions
thereto or thereforof the undersigned.

         5.   REPRESENTATIONS   AND   WARRANTIES.   Each   of  the   undersigned
respectively, hereby jointly and severally represents and warrants (all of which
representations   and  warranties   shall  survive  until  all  Obligations  are
indefeasibly   satisfied  in  full  and  the  Documents  have  been  irrevocably
terminated), that:

                  (a) CORPORATE  STATUS.  The undersigned is a corporation  duly
         organized,  validly existing and in good standing under the laws of the
         state of  incorporation  indicated on the signature page hereof and has
         full power,  authority  and legal right to own its  property and assets
         and to transact the business in which it is engaged.

                  (b) AUTHORITY AND EXECUTION.  The  undersigned has full power,
         authority  and legal right to execute and  deliver,  and to perform its
         obligations under, this Guaranty and has taken all necessary  corporate
         and legal action to authorize the execution,  delivery and  performance
         of this Guaranty.

                  (c)  LEGAL,  VALID  AND  BINDING   CHARACTER.   This  Guaranty
         constitutes the legal,  valid and binding obligation of the undersigned
         enforceable in accordance with its terms,  except as enforceability may
         be  limited  by  applicable  bankruptcy,  insolvency,   reorganization,
         moratorium  or  other  laws  of  general   application   affecting  the
         enforcement of creditor's rights and general  principles of equity that
         restrict the availability of equitable or legal remedies.

                  (d)  VIOLATIONS.  The execution,  delivery and  performance of
         this Guaranty will not violate any requirement of law applicable to the
         undersigned or any material contract,  agreement or instrument to which
         the  undersigned is a party or by which the undersigned or any property
         of the  undersigned is bound or result in the creation or imposition of
         any mortgage,  lien or other encumbrance other than to Laurus on any of
         the property or assets of the undersigned pursuant to the provisions of
         any of the foregoing.

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                  (e) CONSENTS OR  APPROVALS.  No consent of any other person or
         entity (including, without limitation, any creditor of the undersigned)
         and  no  consent,   license,  permit,  approval  or  authorization  of,
         exemption  by,  notice  or  report  to,  or  registration,   filing  or
         declaration with, any governmental  authority is required in connection
         with the execution, delivery,  performance,  validity or enforceability
         of this Guaranty.

                  (f) LITIGATION. No litigation,  arbitration,  investigation or
         administrative  proceeding  of  or  before  any  court,  arbitrator  or
         governmental  authority,  bureau or agency is currently  pending or, to
         the best knowledge of the  undersigned,  threatened (i) with respect to
         this Guaranty or any of the transactions  contemplated by this Guaranty
         or (ii) against or  affecting  the  undersigned,  or any of property or
         assets of the undersigned, which, if adversely determined, would have a
         material  adverse  effect  on  the  business,   operations,  assets  or
         condition, financial or otherwise, of the undersigned.

                  (g) FINANCIAL BENEFIT.  Each of the undersigned has derived or
         expects to derive a financial  or other  advantage  from each and every
         loan,  advance or extension of credit made under the Documents or other
         Obligation incurred by Debtor to Laurus.

         6.  ACCELERATION.

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

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

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

         8. COSTS.  The  undersigned  shall pay on demand,  all costs,  fees and
expenses  (including  expenses  for legal  services of every  kind)  relating or
incidental to the enforcement or protection of the rights of Laurus hereunder or
under any of the Obligations.

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

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

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

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

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

         14. GOVERNING LAW; JURISDICTION;  AMENDMENTS. THIS INSTRUMENT CANNOT BE
CHANGED OR TERMINATED ORALLY,  AND SHALL BE GOVERNED,  CONSTRUED AND INTERPRETED
AS TO VALIDITY,  ENFORCEMENT  AND IN ALL OTHER  RESPECTS IN ACCORDANCE  WITH THE
LAWS OF THE STATE OF NEW YORK WITHOUT  HAVING  EFFECT TO PRINCIPLES OF CONFLICTS
OF LAWS.  EACH OF THE UNDERSIGNED  EXPRESSLY  CONSENTS TO THE  JURISDICTION  AND
VENUE OF THE SUPREME COURT OF THE STATE OF NEW YORK,  COUNTY OF NEW YORK, AND OF
THE UNITED STATES  DISTRICT COURT FOR THE SOUTHERN  DISTRICT OF NEW YORK FOR ALL
PURPOSES IN CONNECTION  HEREWITH.  ANY JUDICIAL  PROCEEDING  BY THE  UNDERSIGNED
AGAINST LAURUS INVOLVING, DIRECTLY

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OR  INDIRECTLY  ANY  MATTER OR CLAIM IN ANY WAY  ARISING  OUT OF,  RELATED TO OR
CONNECTED  HEREWITH  SHALL BE BROUGHT ONLY IN THE SUPREME  COURT OF THE STATE OF
NEW  YORK,  COUNTY  OF NEW YORK OR THE  UNITED  STATES  DISTRICT  COURT  FOR THE
SOUTHERN  DISTRICT  OF NEW  YORK.  THE  UNDERSIGNED  FURTHER  CONSENTS  THAT ANY
SUMMONS, SUBPOENA OR OTHER PROCESS OR PAPERS (INCLUDING, WITHOUT LIMITATION, ANY
NOTICE OR MOTION OR OTHER APPLICATION TO EITHER OF THE AFOREMENTIONED  COURTS OR
A JUDGE THEREOF) OR ANY NOTICE IN CONNECTION WITH ANY PROCEEDINGS HEREUNDER, MAY
BE SERVED INSIDE OR OUTSIDE OF THE STATE OF NEW YORK OR THE SOUTHERN DISTRICT OF
NEW YORK BY  REGISTERED  OR CERTIFIED  MAIL,  RETURN  RECEIPT  REQUESTED,  OR BY
PERSONAL SERVICE  PROVIDED A REASONABLE TIME FOR APPEARANCE IS PERMITTED,  OR IN
SUCH OTHER MANNER AS MAY BE PERMISSIBLE UNDER THE RULES OF SAID COURTS.  EACH OF
THE  UNDERSIGNED  WAIVES ANY OBJECTION TO  JURISDICTION  AND VENUE OF ANY ACTION
INSTITUTED HEREON AND SHALL NOT ASSERT ANY DEFENSE BASED ON LACK OF JURISDICTION
OR VENUE OR BASED UPON FORUM NON CONVENIENS.

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

         16.  AMENDMENTS,  WAIVERS.  No amendment or waiver of any  provision of
this Guaranty nor consent to any departure by the undersigned therefrom shall in
any event be effective  unless the same shall be in writing  executed by each of
the undersigned and Laurus.

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

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

         19.  RELEASE.  Nothing  except cash payment in full of the  Obligations
shall release any of the undersigned from liability under this Guaranty.

                                       7
<PAGE>

                        [REMAINDER OF THIS PAGE IS BLANK.
                       SIGNATURE PAGE IMMEDIATELY FOLLOWS]

                                       8
<PAGE>

         IN WITNESS WHEREOF,  this Guaranty has been executed by the undersigned
this 20th day of November, 2003.

                                         TITAN PCB EAST, INC.

                                         By:    /s/ Robert Ciri
                                                -------------------------------
                                         Name:  Robert Ciri
                                                -------------------------------
                                         Title: President
                                                -------------------------------

                                         Address:   1&2 Industrial Way
                                                    Amesbury, MA 01913

                                         Telephone: 978-388-5740
                                         Facsimile: 978-388-3940
                                         State of Incorporation: Delaware

                                         TITAN PCB WEST, INC.

                                         By:    /s/ Robert Ciri
                                                -------------------------------
                                         Name:  Robert Ciri
                                                -------------------------------
                                         Title: President
                                                -------------------------------

                                         Address:   44358 Old Warm Springs Blvd.
                                                    ---------------------------
                                                    Fremont, CA 94538
                                                    ---------------------------
                                         Telephone: 510-824-1200
                                                    ---------------------------
                                         Facsimile: 978-388-3940
                                                    ---------------------------
                                         State of Incorporation:

                                       9
<PAGE>

STATE OF MARYLAND         )
                          )  SS
COUNTY OF MONTGOMERY      )

         On the 21st day of  November,  2003,  before  me  personally  came Ciri
Robert Eugene to me known,  who being by me duly sworn, did depose and say he is
the  President of Titan PCB East & West the  corporation  described in and which
executed the foregoing instrument;  and that s/he signed her/his name thereto by
order of the board of directors of said corporation.

                                Haajira A. Motala
                                ------------------------------------------------
                                                   Notary Public

                                My Commission Expires: 4/9/07
                                                       -------------------------

                                       10Exhibit 10.68

                             STOCK PLEDGE AGREEMENT

         This Stock Pledge Agreement (this "Agreement") dated as of November 20,
2003,  between  Laurus  Master Fund,  Ltd.  ("Pledgee"),  and  Ventures-National
Incorporated d/b/a Titan General Holdings, Inc. corporation ("Pledgor").

                                   BACKGROUND

          Pledgor has entered into a Securities  Purchase  Agreement dated as of
November 20, 2003 (as amended,  modified,  restated or supplemented from time to
time, the "Purchase  Agreement")  and a Security  Agreement dated as of the date
hereof (as amended,  modified,  restated or supplemented  from time to time, the
"Security Agreement") pursuant to which Pledgee provides or will provide certain
financial accommodations to Pledgor.

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

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

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

         2.  PLEDGE  AND GRANT OF  SECURITY  INTEREST.  To  secure  the full and
punctual  payment and  performance  of the (a)  obligations  under the  Purchase
Agreement and the Security Agreement and (b) all other indebtedness, obligations
and liabilities of Pledgor to Pledgee whether now existing or hereafter arising,
direct or indirect,  liquidated or unliquidated,  absolute or contingent, due or
not due and  whether  under,  pursuant  to or  evidenced  by a note,  agreement,
guaranty,   instrument   or   otherwise   ((a)   and   (b)   collectively,   the
"Indebtedness"),  Pledgor hereby pledges, assigns,  hypothecates,  transfers and
grants  a  security   interest  to  Pledgee  in  all  of  the   following   (the
"Collateral"):

                  (a) the shares of stock set forth on SCHEDULE A annexed hereto
and  expressly  made a part  hereof  (the  "Pledged  Stock"),  the  certificates
representing  the Pledged Stock and all dividends,  cash,  instruments and other
property  or  proceeds  from  time to time  received,  receivable  or  otherwise
distributed in respect of or in exchange for any or all of the Pledged Stock;

                  (b) all  additional  shares  of  stock  of any  issuer  of the
Pledged  Stock (the  "Issuer")  from time to time acquired by the Pledgor in any
manner,  including,  without  limitation,  stock  dividends or a distribution in
connection with any increase or reduction of capital, reclassification,  merger,
consolidation,  sale of assets,  combination of shares, stock split, spin-off or
split-off (which shares shall be deemed to be part of the  Collateral),  and the
certificates

                                      -1-
<PAGE>

representing such additional  shares, and all dividends,  cash,  instruments and
other property or proceeds from time to time  received,  receivable or otherwise
distributed in respect of or in exchange for any or all of such shares; and

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

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

         4.  REPRESENTATIONS  AND WARRANTIES OF PLEDGOR.  Pledgor represents and
warrants to Pledgee (which  representations  and  warranties  shall be deemed to
continue to be made until all of the  Indebtedness has been paid in full and the
Purchase Agreement has been irrevocably terminated) that:

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

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

                  (c) Pledgor is the direct and  beneficial  owner of each share
of the Collateral.

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

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

                                      -2-
<PAGE>

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

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

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

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

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

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

                  (l) Except for the pledged  stock of Coesen [THIS COMPANY OWNS
IP RELATED TO THE BUSINESS OF THE  PLEDGOR,  WE WILL NEED TO GET A RIGHTS TO THE
IP IN  CONNECTION  HEREWITH,  I'LL BE SENDING YOU A FORM OF  "CONSENT"  FOR YOUR
REVIEW,  TO BE FORWARDED TO COESEN'S  COUNSEL) ], which  constitutes  33% of the
shares  issued  and  outstanding  as of  the  date  hereof,  the  Pledged  Stock
constitutes one hundred  percent (100%) of the issued and outstanding  shares of
capital stock of the respective Issuer.

         5. COVENANTS.  Pledgor covenants that, until the Indebtedness  shall be
satisfied in full and the Purchase Agreement is irrevocably terminated:

                  (a)  Pledgor  will not  sell,  assign,  transfer,  convey,  or
otherwise dispose of its rights in or to the Collateral or any interest therein;
nor will  Pledgor  create,  incur or permit to exist  any Lien  whatsoever  with
respect to any of the Collateral or the proceeds thereof other than that created
hereby.

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

                  (c) Pledgor shall at any time, and from time to time, upon the
written  request of Pledgee,  execute and deliver such further  documents and do
such further acts and things as

                                      -3-
<PAGE>

Pledgee may reasonably request in order to effect the purposes of this Agreement
including, but without limitation,  delivering to Pledgee upon the occurrence of
an Event of Default  irrevocable  proxies in respect of the  Collateral  in form
satisfactory to Pledgee.  Until receipt thereof,  upon an Event of Default under
the Note that has occurred and is continuing beyond any applicable grace period,
this Agreement  shall  constitute  Pledgor's  proxy to Pledgee or its nominee to
vote all shares of Collateral then registered in Pledgor's name.

                  (d) Pledgor will not consent to or approve the issuance of (i)
any  additional  shares of any class of capital  stock of the  Issuer;  (ii) any
securities convertible either voluntarily by the holder thereof or automatically
upon the  occurrence  or  nonoccurrence  of any event or condition  into, or any
securities exchangeable for, any such shares.

         6. VOTING  RIGHTS AND  DIVIDENDS.  In addition to Pledgee's  rights and
remedies  set forth in Section 8 hereof,  in case an Event of Default  under the
Note shall have occurred and be continuing,  beyond any  applicable  cure period
Pledgee shall (i) vote the Collateral (ii) be entitled to give consents, waivers
and  ratifications  in respect of the  Collateral  (Pledgor  hereby  irrevocably
constituting and appointing Pledgee, with full power of substitution,  the proxy
and  attorney-in-fact  of Pledgor  for such  purposes)  and (iii) be entitled to
collect  and  receive  for its own use cash  dividends  paid on the  Collateral.
Pledgor shall not be permitted to exercise or refrain from exercising any voting
rights or other powers if, in the  reasonable  judgment of Pledgee,  such action
would have a material  adverse effect on the value of the Collateral or any part
thereof; and, PROVIDED, FURTHER, that Pledgor shall give at least five (5) days'
written  notice of the  manner in which  Pledgor  intends  to  exercise,  or the
reasons for refraining from exercising,  any voting rights or other powers other
than with respect to any  election of  directors  and voting with respect to any
incidental  matters.  Following  the  occurrence  of an  Event of  Default,  all
dividends and all other distributions in respect of any of the Collateral, shall
be  delivered  to Pledgee to hold as  Collateral  and shall,  if received by the
Pledgor, be received in trust for the benefit of Pledgee, be segregated from the
other property or funds of the Pledgor, and be forthwith delivered to Pledgee as
Collateral in the same form as so received (with any necessary endorsement.

         7.  EVENT OF  DEFAULT.  An Event of  Default  shall be  deemed  to have
occurred  and may be  declared  by  Pledgee  upon  the  happening  of any of the
following events:

                  (a) An "Event of Default"  under any Note shall have  occurred
and be continuing beyond any applicable cure period;

                  (b) Pledgor  shall  default in the  performance  of any of its
obligations under any agreement between Pledgor and Pledgee, including,  without
limitation,  this Agreement, and such default shall not be cured for a period of
twenty (20) business days afterthe occurrence thereof;

                  (c) Any  material  representation  or  warranty of the Pledgee
made  herein,  in the  Purchase  Agreement,  or in any  agreement,  statement or
certificate given in writing pursuant hereto or in connection therewith shall be
false or misleading  and shall not be cured for a period of twenty (20) business
days after the occurrence thereof;

                                      -4-
<PAGE>

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

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

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

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

                  (b)  Exercise  all  corporate   rights  with  respect  to  the
Collateral including,  without limitation,  all rights of conversion,  exchange,
subscription or any other rights, privileges or options pertaining to any shares
of the  Collateral  as if it were the absolute  owner  thereof,  including,  but
without limitation,  the right to exchange, at its discretion, any or all of the
Collateral upon the merger, consolidation,  reorganization,  recapitalization or
other readjustment of the Issuer thereof,  or upon the exercise by the Issuer of
any right,  privilege or option  pertaining  to any of the  Collateral,  and, in
connection therewith,  to deposit and deliver any and all of the Collateral with
any committee,  depository,  transfer agent, registrar or other designated agent
upon such terms and conditions as it may determine, all without liability except
to account for property actually received by it; and

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

                  Pledgor hereby waives and releases any and all right or equity
of redemption,  whether before or after sale hereunder. At any such sale, unless
prohibited by applicable law,  Pledgee may bid for and purchase the whole or any
part of the Collateral so sold free from any such right or equity of redemption.
All moneys received by Pledgee  hereunder whether upon sale of the Collateral or
any part thereof or otherwise shall be held by Pledgee and applied by it

                                      -5-
<PAGE>

as provided in Section 10 hereof.  No failure or delay on the part of Pledgee in
exercising any rights hereunder shall operate as a waiver of any such rights nor
shall any single or partial  exercise of any such rights  preclude  any other or
future exercise thereof or the exercise of any other rights  hereunder.  Pledgee
shall have no duty as to the  collection or protection of the  Collateral or any
income thereon nor any duty as to preservation of any rights pertaining thereto,
except to apply the funds in  accordance  with the  requirements  of  Section 10
hereof.  Pledgee may exercise its rights with respect to property held hereunder
without  resort  to other  security  for or  sources  of  reimbursement  for the
Indebtedness.  In  addition  to the  foregoing,  Pledgee  shall  have all of the
rights,  remedies and privileges of a secured party under the Uniform Commercial
Code of New York regardless of the jurisdiction in which  enforcement  hereof is
sought.

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

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

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

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

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

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

                  In the event that the  proceeds of any  collection,  recovery,
receipt,  appropriation,  realization  or sale are  insufficient  to satisfy the
Indebtedness, Pledgor shall be liable for the

                                      -6-
<PAGE>

deficiency  plus the costs and fees of any  attorneys  employed  by  Pledgee  to
collect such deficiency.

         11. WAIVER OF MARSHALING. Pledgor hereby waives any right to compel any
marshaling of any of the Collateral.

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

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

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

         15. WAIVERS.

                  (a) EACH PARTY  HERETO  HEREBY  EXPRESSLY  WAIVES ANY RIGHT TO
TRIAL BY JURY OF ANY CLAIM, DEMAND,  ACTION OR CAUSE OF ACTION (A) ARISING UNDER
THIS AGREEMENT OR ANY OTHER INSTRUMENT,

                                      -7-
<PAGE>

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

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

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

         18. MISCELLANEOUS.

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

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

                  (c) In the event that any  provision of this  Agreement or the
application thereof to Pledgor or any circumstance in any jurisdiction governing
this  Agreement  shall,  to any extent,  be invalid or  unenforceable  under any
applicable statute,  regulation,  or rule of law, such provision shall be deemed
inoperative  to the extent that it may  conflict  therewith  and shall be deemed
modified  to  conform  to such  statute,  regulation  or  rule  of law,  and the
remainder  of  this  Agreement  and  the  application  of any  such  invalid  or
unenforceable provision to parties,  jurisdictions,  or circumstances other than
to whom or to which it is held invalid or unenforceable

                                      -8-
<PAGE>

shall  not  be  affected  thereby,   nor  shall  same  affect  the  validity  or
enforceability of any other provision of this Agreement.

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

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

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

                  (g) PLEDGOR  EXPRESSLY  CONSENTS TO THE JURISDICTION AND VENUE
OF EACH COURT OF COMPETENT JURISDICTION LOCATED IN THE STATE OF NEW YORK FOR ALL
PURPOSES IN CONNECTION WITH THIS AGREEMENT.  ANY JUDICIAL PROCEEDING  INVOLVING,
DIRECTLY OR INDIRECTLY ANY MATTER OR CLAIM IN ANY WAY ARISING OUT OF, RELATED TO
OR CONNECTED WITH THIS AGREEMENT  SHALL BE BROUGHT ONLY IN A STATE COURT LOCATED
IN THE COUNTY OF NEW YORK, STATE OF NEW YORK.  PLEDGOR FURTHER CONSENTS THAT ANY
SUMMONS, SUBPOENA OR OTHER PROCESS OR PAPERS (INCLUDING, WITHOUT LIMITATION, ANY
NOTICE OR MOTION OR OTHER APPLICATION TO EITHER OF THE AFOREMENTIONED  COURTS OR
A JUDGE THEREOF) OR ANY NOTICE IN CONNECTION WITH ANY PROCEEDINGS HEREUNDER, MAY
BE SERVED INSIDE OR OUTSIDE OF THE STATE OF NEW YORK OR THE SOUTHERN DISTRICT OF
NEW YORK BY  REGISTERED  OR CERTIFIED  MAIL,  RETURN  RECEIPT  REQUESTED,  OR BY
PERSONAL SERVICE  PROVIDED A REASONABLE TIME FOR APPEARANCE IS PERMITTED,  OR IN
SUCH OTHER MANNER AS MAY BE PERMISSIBLE UNDER THE RULES OF SAID COURTS.  PLEDGOR
WAIVES ANY OBJECTION TO JURISDICTION AND VENUE OF ANY ACTION  INSTITUTED  HEREON
AND SHALL NOT ASSERT ANY DEFENSE BASED ON LACK OF JURISDICTION OR VENUE OR BASED
UPON FORUM NON CONVENIENS.

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

                  [Remainder of Page Intentionally Left Blank]

                                      -9-
<PAGE>

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

                                              VENTURES-NATIONAL INCORPORATED
                                              D/B/A TITAN GENERAL HOLDINGS, INC.

                                              By: /s/ Andrew Glashow
                                                  ------------------------------
                                                  Name:  Andrew Glashow
                                                  Title: President

                                              LAURUS MASTER FUND, LTD.

                                              By: /s/ David Grin
                                                  ------------------------------
                                                  Name:  David Grin
                                                  Title:

                                      -10-
<PAGE>

                                   SCHEDULE A

                                  PLEDGED STOCK

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
        Issuer          Class of Stock    Stock Certificate    Par Value    Number of
                                                Number                       Shares
--------------------------------------------------------------------------------------
<S>                        <C>            <C>                  <C>          <C>
 Titan PCB East, Inc.      Common
--------------------------------------------------------------------------------------
 Titan PCB West, Inc.      Common
--------------------------------------------------------------------------------------
 [COESEN] [CHECK]          Common]
--------------------------------------------------------------------------------------
</TABLE>

                                      -11-

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