Document:

EXHIBIT 4.29.3

                              VALUESTAR CORPORATION
                                  THIRD AMENDED
                                  AND WAIVER OF
                           INVESTORS RIGHTS AGREEMENT

         THIS THIRD  AMENDED  AND WAIVER OF  INVESTORS  RIGHTS  AGREEMENT  (this
"Agreement") is dated effective as of January 4, 2001 (the "Effective Date"), by
and  among  VALUESTAR  CORPORATION,  a  Colorado  corporation  (the  "Company"),
SEACOAST CAPITAL PARTNERS LIMITED  PARTNERSHIP,  a Delaware limited  partnership
("Seacoast"),  PACIFIC  MEZZANINE  FUND, L.P. a California  limited  partnership
("Pacific"),  TANGENT  GROWTH  FUND,  L.P.,  a  California  limited  partnership
("Tangent"),  eCOMPANIES  VENTURE GROUP,  L.P., a Delaware  limited  partnership
("Companies"),   TMCT  VENTURES,  L.P.  ("TMCT")  (Seacoast,  Pacific,  Tangent,
eCompanies,  and TMCT, a "Holder," and  collectively,  all such  individuals and
entities, the "Holders").

                                     RECITAL

         In  consideration  of the  Company's  sale  of  certain  securities  in
accordance  with the terms and  provisions  set forth in that certain  Series CC
Preferred  Stock and  Warrant  Purchase  Agreement  of even date  herewith  (the
"Series CC  Purchase  Agreement"),  the  Holders  desire to amend the  Investors
Rights  Agreement  originally  entered  into by Seacoast,  Pacific,  Tangent and
eCompanies on December 8, 1999, with TMCT becoming a party thereto on January 4,
2000, and as subsequently  amended on March 24, 2000 and September 14, 2000 (the
"Rights  Agreement") in accordance  with the terms set forth in this  Agreement.
All capitalized terms not defined herein shall have the meanings  established in
the Rights Agreement.

                                    AGREEMENT

         NOW, THEREFORE,  in consideration of the mutual agreements,  covenants,
representations and warranties  contained in this Agreement,  the parties hereto
hereby agree as follows:

1.       Registration Rights.

         a.  Incidental  Registration.  In  accordance  with  Section 2.b of the
Rights Agreement,  the Holders hereby acknowledge notice from the Company of its
intention to register certain  securities as set forth in the Series CC Purchase
Agreement and corresponding First Amended  Registration Rights Agreement thereto
and hereby  request  that the  Registrable  Securities  held by such  Holders be
included in such registration in accordance with the terms thereof.

         b. Limitations on Subsequent Registration Rights. The Holders holding a
majority of the outstanding  Registrable Securities hereby consent in accordance
with Section 2.k of the Rights Agreement to the Company entering into the Series
CC Purchase  Agreement  and  corresponding  First  Amended  Registration  Rights
Agreement  thereto  and  undertaking  its  obligations  thereunder,  whereby the
Company has  granted  certain  investors  under such  agreements  the right to a
registration  that will result in such  registration  statement  being  declared
effective prior to the effectiveness of the first  registration  statement to be
effected under Section 2.a. of the Rights Agreement.

         2. Waiver of Preemptive  Rights.  Each of the Holders hereby waives its
preemptive  rights set forth in Section 3 of the Rights Agreement  applicable to
any of the securities sold or to be sold under the Series CC Purchase Agreement.

                                       1

<PAGE>

                               Signature Page to
  ValueStar Corporation Third Amended and Waiver of Investors Rights Agreement

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

                                          VALUESTAR CORPORATION

                                          By: /s/ James Stein
                                              -------------------------------
                                          Name:  James Stein
                                          Its:  Chief Executive Officer

                                          eCOMPANIES VENTURE GROUP, L.P.

                                          By: /s/ Steven Ledger
                                              -------------------------------
                                          Name:  Steven Ledger
                                          Its:   Managing General Partner

                                          SEACOAST CAPITAL PARTNERS LIMITED
                                          PARTNERSHIP
                                          By: Seacoast I Advisors, LLC, its
                                              general partner

                                          By:/s/ Jeffrey J. Holland
                                             --------------------------------
                                          Name:  Jeffrey J. Holland
                                          Its:       Vice President

                                          PACIFIC MEZZANINE FUND, L.P.
                                          By: Pacific Private Capital, its
                                              general partner

                                          By: /s/ Nathan W. Bell
                                              -------------------------------
                                          Name:  Nathan W. Bell
                                          Its:   General Partner

                                          TANGENT GROWTH FUND, L.P.
                                          By: Tangent Fund Management, LLC, its
                                              general partner

                                          By: /s/ Mark P. Gilles
                                              -------------------------------
                                          Name:  Mark P. Gilles
                                          Its:  Vice President

                                          TMCT VENTURES, L.P.
                                          Under management by
                                              Rustic Canyon Partners, LLC

                                          By: /s/ Michael Song
                                              -------------------------------
                                          Printed Name: Michael Song
                                          Title: Partner

                                       2EXHIBIT 4.34.1

                              VALUESTAR CORPORATION
                                  FIRST AMENDED
                          REGISRATION RIGHTS AGREEMENT

         THIS FIRST AMENDED  REGISTRATION  AGREEMENT (this "Agreement") is dated
effective as of January 4, 2001 (the "Effective  Date"),  by and among VALUESTAR
CORPORATION,  a Colorado  corporation (the  "Company"),  DAVRIC  CORPORATION,  a
Nevada  corporation  ("Davric"),  eCOMPANIES  VENTURE  GROUP,  L.P.,  a Delaware
limited partnership ("eCompanies"), HULL OVERSEAS LTD., a British Virgin Islands
limited  partnership  ("Hull  Overseas") J. M. HULL  ASSOCIATES,  LP, a Delaware
limited partnership (Davric,  eCompanies,  Hull Overseas and Hull Associates,  a
"Holder," and collectively,  all such individuals and entities,  the "Holders"),
and such  entities or  individuals  set forth on Schedule 1 attached  hereto and
incorporated  herein by reference  that the Company may  designate as additional
parties to this Agreement (each such entity and individual,  a "Purchaser,"  and
all such individuals and entities,  the  "Purchasers") who have entered into the
ValueStar  Corporation  Series CC Preferred Stock and Warrant Purchase Agreement
dated on even date herewith ("Series CC Purchase Agreement").

                                     RECITAL

         In  consideration  of the Company's  sale of certain  securities to the
Purchasers in accordance  with the terms and  provisions set forth in the Series
CC Purchase  Agreement,  the  Holders  desire to amend the  Registration  Rights
Agreement  originally  entered into by the Holders and other  purchasers  of the
Company's   Series  C  Preferred  Stock  on  September  14,  2000  (the  "Rights
Agreement")  in  accordance  with the  terms set  forth in this  Agreement.  All
capitalized terms not defined herein shall have the meanings  established in the
Rights Agreement.

                                    AGREEMENT

         NOW, THEREFORE,  in consideration of the mutual agreements,  covenants,
representations and warranties  contained in this Agreement,  the parties hereto
hereby agree as follows:

         1.  Amendments to Rights  Agreement.  The Holders hereby agree and give
their  consent as required  under  Section  4(a) of the Rights  Agreement to the
following amendments to the Rights Agreement:

         a.  Addition  of  Purchasers  as  Parties  to  Rights  Agreement.   The
definition of "Holder" for purposes of the Rights Agreement,  as amended hereby,
shall include the Purchasers.

         b.  Definition of Common  Stock.  The  definition of "Common  Stock" in
Section 1 of the Rights Agreement is hereby amended to read in full as follows:

                  "Common  Stock"  means  any and all (i)  common  stock  of the
Company issued or issuable upon conversion of the Company's Series C Convertible
Preferred  Stock  (ii)  common  stock of the  Company  issued or  issuable  upon
conversion of the Company's Series CC Convertible  Preferred Stock; (iii) common
stock of the Company  issued or issuable  upon  exercise of the  Warrants,  (iv)
common  stock of the Company  issued or issuable  upon  exercise of the warrants
issued to the Purchasers under the Series CC Purchase Agreement and any warrants
issued to finders  of  Purchasers  as  contemplated  by the  Series CC  Purchase
Agreement  (collectively,  (i), (ii), (iii) and (iv) the "Stock");  (iii) common
stock of the Company issued as a dividend or other  distribution with respect to
or in  replacement  of the  Stock,  and  (vi) any  common  stock  issued  in any
combination  or subdivision  of the Stock.  In determining  the amount of Common
Stock held by any Person,  the sum of (i), (ii), (iii), (iv), (v) and (vi) shall
be used and a Person  shall be deemed to "hold"  all  Common  Stock then held by
and/or issuable to such Person.

                                       1
<PAGE>

         c. Definition of Series CC Purchase Agreement. The following definition
is hereby added to Section 1 of the Rights Agreement:

                  "Series CC Purchase  Agreement"  means the Series CC Preferred
Stock and Warrant  Purchase  Agreement dated as of January __, 2000 by and among
the Company and the purchaser's of the Company's Series CC Convertible Preferred
Stock and warrants to purchase the Company's Common Stock."

                            [signature page follows]

<PAGE>

              Signature Page to ValueStar Corporation First Amended
                         Registration Rights Agreement

     (Individual Pages Differ as to Purchaser Name and Personal Information)

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

                                           VALUESTAR CORPORATION

                                           By:    /s/ James Stein
                                               ----------------------------
                                           Name:  James Stein
                                           Its:   Chief Executive Officer

                                           DAVRIC CORPORATION

                                           By:    /s/ Jerry E. Polis
                                               ----------------------------
                                           Name:  Jerry E. Polis
                                           Title: President

                                           eCOMPANIES VENTURE GROUP, L.P.

                                           By:    /s/ Steven Ledger
                                               ----------------------------
                                           Name:  Steven Ledger
                                                  Managing General Partner

                                           Hull Overseas Ltd.

                                           By:    /s/ J. Mitchell Hull
                                               ----------------------------
                                           Name:  J. Mitchell Hull
                                           Title: President

                                           J. M. Hull Associates, LP

                                           By:    /s/ J. Mitchell Hull
                                               ----------------------------
                                           Name:  J. Mitchell Hull
                                           Title: President

                                           Purchasers:

                                           By:
                                               ----------------------------
                                           Printed Name:
                                                         ------------------
                                           Title:
                                               ----------------------------

                                       3

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