Document:

Securities Purchase Agreement

    EXHIBIT
      10.1

    

    SECURITIES
      PURCHASE AGREEMENT

    

    THIS SECURITIES
      PURCHASE AGREEMENT
      (this
“Agreement”),
      dated
      as of May 17, 2007, by and among UNICORP,
      INC.,
      a Nevada
      corporation (the “Company”),
      and
      the Buyers listed on Schedule I attached hereto (individually, a
“Buyer”
or
      collectively “Buyers”).

     

    WITNESSETH

    

    WHEREAS,
      the
      Company and the Buyer(s) are executing and delivering this Agreement in reliance
      upon an exemption from securities registration pursuant to Section 4(2) and/or
      Rule 506 of Regulation D (“Regulation
      D”)
      as
      promulgated by the U.S. Securities and Exchange Commission (the “SEC”)
      under
      the Securities Act of 1933, as amended (the “Securities
      Act”);

     

    WHEREAS,
      the
      parties desire that, upon the terms and subject to the conditions contained
      herein, the Company shall issue and sell to the Buyer(s), as provided herein,
      and the Buyer(s) shall purchase (i) up to Seven Million Dollars ($7,000,000)
      of
      secured convertible debentures in the form attached hereto as “Exhibit
      A”
(the
      “Convertible
      Debentures”),
      which
      shall be convertible into shares of the Company’s common stock, par value $0.001
      (the “Common
      Stock”)
      (as
      converted, the “Conversion
      Shares”),
      and
      (ii) warrants substantially in the form attached hereto as “Exhibit
      B”
(the
      “Warrants”),
      to
      acquire up to that number of additional shares of Common Stock set forth
      opposite such Buyer’s name in column (5) of the Schedule I (as exercised, the
“Warrant
      Shares”),
      of
      which Three Million Five Hundred Thousand Dollars ($3,500,000) shall be funded
      within three (3) business days following the date hereof (the “First
      Closing”),
      Two
      Million Dollars ($2,000,000) shall be funded on the date the registration
      statement (the “Registration
      Statement”)
      is
      filed, pursuant to the Registration Rights Agreement dated the date hereof,
      with
      the United States Securities and Exchange Commission (the “SEC”)
      (the
“Second
      Closing”),
      and
      One Million Five Hundred Thousand Dollars ($1,500,000) shall be funded within
      three (3) business days after the date the Registration Statement is declared
      effective by the SEC (the “Third
      Closing”)
      (individually referred to as a “Closing”
      collectively referred to as the “Closings”),
      for a
      total purchase price of up to Seven Million Dollars ($7,000,000), (the
“Purchase
      Price”)
      in the
      respective amounts set forth opposite each Buyer(s) name on Schedule I (the
      “Subscription
      Amount”);
      and

     

    WHEREAS,
      contemporaneously with the execution and delivery of this Agreement, the parties
      hereto are executing and delivering a Registration Rights Agreement (the
“Registration
      Rights Agreement”)
      pursuant to which the Company has agreed to provide certain registration rights
      under the Securities Act and the rules and regulations promulgated thereunder,
      and applicable state securities laws; 

     

    
      
        
        

      

      
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    WHEREAS,
      the
      Convertible Debentures are secured by a security interest in all of the assets
      of the Company, including a lien on certain equipment and real estate, including
      various oil and gas interests within the United States, including at least
      Louisiana, Mississippi, and Texas, the granting of which shall be set forth
      in a
      Security Agreement of even date herewith (the “Security
      Agreement”)
      and
      various agreements addressing security in the oil and gas interests and other
      real property (the “Real
      Estate Security”
and
      with the Security Agreements collectively the “Security
      Documents”);
      

     

    WHEREAS,
      contemporaneously with the execution and delivery of this Agreement, the parties
      hereto are executing and delivering Irrevocable Transfer Agent Instructions
      (the
“Irrevocable
      Transfer Agent Instructions”);
      and

     

    WHEREAS,
      the
      Convertible Debentures, the Conversion Shares, the Warrants, and the Warrant
      Shares collectively are referred to herein as the “Securities”.
      

     

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants and other agreements contained in this
      Agreement the Company and the Buyer(s) hereby agree as follows:

     

    1.  PURCHASE
      AND SALE OF CONVERTIBLE DEBENTURES.

     

      (a)
Purchase
      of Convertible Debentures.
      Subject
      to the satisfaction (or waiver) of the terms and conditions of this Agreement,
      each Buyer agrees, severally and not jointly, to purchase at each Closing and
      the Company agrees to sell and issue to each Buyer, severally and not jointly,
      at each Closing, Convertible Debentures in amounts corresponding with the
      Subscription Amount set forth opposite each Buyer’s name on Schedule I hereto
      and the Warrants to acquire up to that number of Warrant Shares as set forth
      opposite such Buyer’s name in column (5) on Schedule I . 

     

      (b)
Closing
      Dates.
      The
      First Closing of the purchase and sale of the Convertible Debentures and
      Warrants shall take place at 10:00 a.m. Eastern Standard Time within three
      (3)
      business days following the date hereof, subject to notification of satisfaction
      of the conditions to the First Closing set forth herein and in Sections 6 and
      7
      below (or such later date as is mutually agreed to by the Company and the
      Buyer(s)) (the “First
      Closing Date”)
      and
      the Second Closing of the purchase and sale of the Convertible Debentures shall
      take place within two (2) business days prior to the date the Registration
      Statement is filed with the SEC, subject to notification of satisfaction of
      the
      conditions to the Second Closing set forth herein and in Sections 6 and 7 below
      (or such later date as is mutually agreed to by the Company and the Buyer(s))
      (the “Second
      Closing Date”).
      The
      Third Closing of the purchase and sale of the Convertible Debentures shall
      take
      place at 4:00 p.m. Eastern Standard Time on the date the Company files a request
      for acceleration of the effectiveness of the Registration Statement (such date
      being no earlier than the date the SEC expresses to the Company that it has
      no
      further comments on the Registration Statement) subject to notification of
      satisfaction of the conditions to the Third Closing set forth herein and in
      Sections 6 and 7 below (or such later date as is mutually agreed to by the
      Company and the Buyer(s)) (the “Third
      Closing Date”)
      (collectively referred to as the “Closing
      Dates”).
      The
      Closings shall occur on the respective Closing Dates at the offices of Yorkville
      Advisors, LLC, 3700 Hudson Street, Suite 3700, Jersey City, New Jersey 07302
      (or
      such other place as is mutually agreed to by the Company and the Buyer(s)).
      

     

      (c)
Form
      of Payment.
      Subject
      to the satisfaction of the terms and conditions of this Agreement, on each
      Closing Date, (i) the Buyers shall deliver to the Company such aggregate
      proceeds for the Convertible Debentures and Warrants to be issued and sold
      to
      such Buyer at such Closing, minus the fees to be paid directly from the proceeds
      of such Closing as set forth herein, and (ii) the Company shall deliver to
      each Buyer, Convertible Debentures and Warrants which such Buyer is purchasing
      at such Closing in amounts indicated opposite such Buyer’s name on Schedule I,
      duly executed on behalf of the Company.

     

    
      
        
        

      

      
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    2.  BUYER’S
      REPRESENTATIONS AND WARRANTIES.

     

    Each
      Buyer represents and warrants, severally and not jointly, that:

     

      (a)
Investment
      Purpose.
      Each
      Buyer is acquiring the Convertible Debentures and Warrants, and, upon conversion
      of the Convertible Debentures or exercise of the Warrants, the Buyer will
      acquire the Conversion Shares or Warrant Shares, respectively, then issuable,
      for its own account for investment only and not with a view towards, or for
      resale in connection with, the public sale or distribution thereof, except
      pursuant to sales registered or exempted under the Securities Act; provided,
      however, that by making the representations herein, such Buyer reserves the
      right to dispose of the Securities at any time in accordance with or pursuant
      to
      an effective registration statement covering such Securities or an available
      exemption under the Securities Act. Such Buyer does not presently have any
      agreement or understanding, directly or indirectly, with any Person to
      distribute any of the Securities. 

     

      (b)
Accredited
      Investor Status.
      Each
      Buyer is an “Accredited
      Investor”
as
      that
      term is defined in Rule 501(a)(3) of Regulation D.

     

      (c)
Reliance
      on Exemptions.
      Each
      Buyer understands that the Convertible Debentures and Warrants are being offered
      and sold to it in reliance on specific exemptions from the registration
      requirements of United States federal and state securities laws and that the
      Company is relying in part upon the truth and accuracy of, and such Buyer’s
      compliance with, the representations, warranties, agreements, acknowledgments
      and understandings of such Buyer set forth herein in order to determine the
      availability of such exemptions and the eligibility of such Buyer to acquire
      the
      Convertible Debentures and Warrants.

     

      (d)
Information.
      Each
      Buyer and its advisors (and his or, its counsel), if any, have been furnished
      with all materials relating to the business, finances and operations of the
      Company and information he deemed material to making an informed investment
      decision regarding his purchase of the Convertible Debentures and Warrants,
      which have been requested by such Buyer. Each Buyer and its advisors, if any,
      have been afforded the opportunity to ask questions of the Company and its
      management. Neither such inquiries nor any other due diligence investigations
      conducted by such Buyer or its advisors, if any, or its representatives shall
      modify, amend or affect such Buyer’s right to rely on the Company’s
      representations and warranties contained in Section 3 below. Each Buyer
      understands that its investment in the Convertible Debentures and Warrants
      involves a high degree of risk. Each Buyer is in a position regarding the
      Company, which, based upon employment, family relationship or economic
      bargaining power, enabled and enables such Buyer to obtain information from
      the
      Company in order to evaluate the merits and risks of this investment. Each
      Buyer
      has sought such accounting, legal and tax advice, as it has considered necessary
      to make an informed investment decision with respect to its acquisition of
      the
      Convertible Debentures and Warrants.

     

      (e)
No
      Governmental Review.
      Each
      Buyer understands that no United States federal or state agency or any other
      government or governmental agency has passed on or made any recommendation
      or
      endorsement of the Convertible Debentures and Warrants, or the fairness or
      suitability of the investment in the Convertible Debentures and Warrants, nor
      have such authorities passed upon or endorsed the merits of the offering of
      the
      Convertible Debentures and Warrants.

     

    
      
        
        

      

      
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      (f)
Transfer
      or Resale.
      Each
      Buyer understands that except as provided in the Registration Rights Agreement:
      (i) the Securities have not been and are not being registered under the
      Securities Act or any state securities laws, and may not be offered for sale,
      sold, assigned or transferred unless (A) subsequently registered thereunder,
      (B)
      such Buyer shall have delivered to the Company an opinion of counsel, in a
      generally acceptable form, to the effect that such Securities to be sold,
      assigned or transferred may be sold, assigned or transferred pursuant to an
      exemption from such registration requirements, or (C) such Buyer provides the
      Company with reasonable assurances (in the form of seller and broker
      representation letters) that such Securities can be sold, assigned or
      transferred pursuant to Rule 144, Rule 144(k), or Rule 144A promulgated under
      the Securities Act, as amended (or a successor rule thereto) (collectively,
      “Rule
      144”),
      in
      each case following the applicable holding period set forth therein; (ii) any
      sale of the Securities made in reliance on Rule 144 may be made only in
      accordance with the terms of Rule 144 and further, if Rule 144 is not
      applicable, any resale of the Securities under circumstances in which the
      seller (or the person through whom the sale is made) may be deemed to be an
      underwriter (as that term is defined in the Securities Act) may require
      compliance with some other exemption under the Securities Act or the rules
      and
      regulations of the SEC thereunder; and (iii) neither the Company nor any other
      person is under any obligation to register the Securities under the Securities
      Act or any state securities laws or to comply with the terms and conditions
      of
      any exemption thereunder. The Company reserves the right to place stop transfer
      instructions against the shares and certificates for the Conversion Shares
      and
      Warrant Shares, if such stop transfer instructions are legally
      mandated.

     

      (g)
Legends.
      Each
      Buyer understands that the certificates or other instruments representing the
      Securities shall bear a restrictive legend in substantially the following form
      (and a stop -transfer order may be placed against transfer of such stock
      certificates):

     

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
      SECURITIES HAVE BEEN ACQUIRED SOLELY FOR INVESTMENT PURPOSES AND NOT WITH A
      VIEW
      TOWARD RESALE AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
      IN
      THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER
      THE
      SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, OR
      AN
      OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT
      REQUIRED UNDER SAID ACT OR APPLICABLE STATE SECURITIES LAWS. 

     

    
      
        
        

      

      
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    Certificates
      evidencing the Conversion Shares or Warrant Shares shall not contain any legend
      (including the legend set forth above), (i) while a registration statement
      (including the Registration Statement) covering the resale of such security
      is
      effective under the Securities Act, (ii) following any sale of such Conversion
      Shares or Warrant Shares pursuant to Rule 144, (iii) if such Conversion Shares
      or Warrant Shares are eligible for sale under Rule 144(k), or (iv) if such
      legend is not required under applicable requirements of the Securities Act
      (including judicial interpretations and pronouncements issued by the staff
      of
      the SEC). The Company shall cause its counsel to issue a legal opinion to the
      Company’s transfer agent promptly after the effective date (the “Effective
      Date”)
      of a
      Registration Statement if required by the Company’s transfer agent to effect the
      removal of the legend hereunder. If all or any portion of the Convertible
      Debentures or Warrants are exercised by a Buyer that is not an Affiliate of
      the
      Company (a “Non-Affiliated
      Buyer”)
      at a
      time when there is an effective registration statement to cover the resale
      of
      the Conversion Shares or the Warrant Shares, such Conversion Shares or Warrant
      Shares shall be issued free of all legends. The Company agrees that following
      the Effective Date or at such time as such legend is no longer required under
      this Section 2(g), it will, no later than three (3) Trading Days following
      the
      delivery by a Non-Affiliated Buyer to the Company or the Company’s transfer
      agent of a certificate representing Conversion Shares or Warrant Shares, as
      the
      case may be, issued with a restrictive legend (such third Trading Day, the
      “Legend
      Removal Date”),
      deliver or cause to be delivered to such Non-Affiliated Buyer a certificate
      representing such shares that is free from all restrictive and other legends.
      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. Each Buyer acknowledges that the Company’s agreement
      hereunder to remove all legends from Conversion Shares or Warrant Shares is
      not
      an affirmative statement or representation that such Conversion Shares or
      Warrant Shares are freely tradable. Each Buyer, severally and not jointly with
      the other Buyers, agrees that the removal of the restrictive legend from
      certificates representing Securities as set forth in this Section 3(g) is
      predicated upon the Company’s reliance that the buyer will sell any Securities
      pursuant to either the registration requirements of the Securities Act,
      including any applicable prospectus delivery requirements, or an exemption
      therefrom, and that if Securities are sold pursuant to a Registration Statement,
      they will be sold in compliance with the plan of distribution set forth
      therein.

     

      (h)
Authorization,
      Enforcement.
      This
      Agreement has been duly and validly authorized, executed and delivered on behalf
      of such Buyer and is a valid and binding agreement of such Buyer enforceable
      in
      accordance with its terms, except as such enforceability may be limited by
      general principles of equity or applicable bankruptcy, insolvency,
      reorganization, moratorium, liquidation and other similar laws relating to,
      or
      affecting generally, the enforcement of applicable creditors’ rights and
      remedies.

     

      (i)
Receipt
      of Documents.
      Each
      Buyer and his or its counsel has received and read in their entirety: (i) this
      Agreement and each representation, warranty and covenant set forth herein and
      the Transaction Documents (as defined herein); (ii) all due diligence and other
      information necessary to verify the accuracy and completeness of such
      representations, warranties and covenants; (iii) the Company’s Form 10-KSB for
      the fiscal year ended December 31, 2006; and (iv) answers to all questions
      each
      Buyer submitted to the Company regarding an investment in the Company; and
      each
      Buyer has relied on the information contained therein and has not been furnished
      any other documents, literature, memorandum or prospectus.

     

    
      
        
        

      

      
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     (j)         
      Due
      Formation of Corporate and Other Buyers.
      If the
      Buyer(s) is a corporation, trust, partnership or other entity that is not an
      individual person, it has been formed and validly exists and has not been
      organized for the specific purpose of purchasing the Securities and is not
      prohibited from doing so.

     

      (k)
No
      Legal Advice From the Company.
      Each
      Buyer acknowledges, that it had the opportunity to review this Agreement and
      the
      transactions contemplated by this Agreement with his or its own legal counsel
      and investment and tax advisors. Each Buyer is relying solely on such counsel
      and advisors and not on any statements or representations of the Company or
      any
      of its representatives or agents for legal, tax or investment advice with
      respect to this investment, the transactions contemplated by this Agreement
      or
      the securities laws of any jurisdiction. 

     

    3.  REPRESENTATIONS
      AND WARRANTIES OF THE COMPANY.

     

    The
      Company represents and warrants as of the date hereof to each of the Buyers
      that, except as set forth in the SEC Documents (as defined herein) or in the
      Disclosure Schedule attached hereto (the “Disclosure
      Schedule”):
      

     

      (a)
Subsidiaries.
      All of
      the direct and indirect subsidiaries of the Company are set forth on
Schedule
      3(a).
      The
      Company owns, directly or indirectly, all of the capital stock or other equity
      interests of each subsidiary free and clear of any 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 to
      subscribe for or purchase securities.

     

      (b)
Organization
      and Qualification.
      The
      Company and its subsidiaries are corporations duly organized and validly
      existing in good standing under the laws of the jurisdiction in which they
      are
      incorporated, and have the requisite corporate power to own their properties
      and
      to carry on their business as now being conducted. Each of the Company and
      its
      subsidiaries is duly qualified as a foreign corporation to do business and
      is in
      good standing in every jurisdiction in which the nature of the business
      conducted by it makes such qualification necessary, except to the extent that
      the failure to be so qualified or be in good standing would not have or
      reasonably be expected to result in (i) a material adverse effect on the
      legality, validity or enforceability of any Transaction Document, (ii) a
      material adverse effect on the results of operations, assets, business or
      condition (financial or otherwise) of the Company and the subsidiaries, taken
      as
      a whole, or (iii) a material adverse effect on the Company’s ability to perform
      in any material respect on a timely basis its obligations under any Transaction
      Document (any of (i), (ii) or (iii), a “Material
      Adverse Effect”)
      and no
      proceeding has been instituted in any such jurisdiction revoking, limiting
      or
      curtailing or seeking to revoke, limit or curtail such power and authority
      or
      qualification.

     

    
      
        
        

      

      
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      (c)
Authorization,
      Enforcement, Compliance with Other Instruments.
      (i) The Company has the requisite corporate power and authority to enter
      into and perform its obligations under this Agreement, the Convertible
      Debentures, the Warrants, the Security Agreement, the Security Documents, the
      Registration Rights Agreement, the Irrevocable Transfer Agent Instructions,
      and
      each of the other agreements entered into by the parties hereto in connection
      with the transactions contemplated by this Agreement (collectively the
“Transaction
      Documents”)
      and to
      issue the Securities in accordance with the terms hereof and thereof, (ii)
      the
      execution and delivery of the Transaction Documents by the Company and the
      consummation by it of the transactions contemplated hereby and thereby,
      including, without limitation, the issuance of the Securities, the reservation
      for issuance and the issuance of the Conversion Shares, and the reservation
      for
      issuance and the issuance of the Warrant Shares, have been duly authorized
      by
      the Company’s Board of Directors and no further consent or authorization is
      required by the Company, its Board of Directors or its stockholders, (iii)
      the
      Transaction Documents have been duly executed and delivered by the Company,
      (iv)
      the Transaction Documents constitute the valid and binding obligations of the
      Company enforceable against the Company in accordance with their terms, except
      as such enforceability may be limited by general principles of equity or
      applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
      or
      similar laws relating to, or affecting generally, the enforcement of creditors’
rights and remedies. The authorized officer of the Company executing the
      Transaction Documents knows of no reason why the Company cannot file the
      Registration Statement as required under the Registration Rights Agreement
      or
      perform any of the Company’s other obligations under the Transaction Documents.

     

      (d)
Capitalization.
      The
      authorized capital stock of the Company consists of 1,500,000,000 shares of
      Common Stock and 25,000,000 shares of Preferred Stock, par value $.001
      (“Preferred
      Stock”)
      of
      which 100,964,840 shares of Common Stock and zero shares of Preferred Stock
      are
      issued and outstanding. All of the outstanding shares of capital stock of the
      Company are validly issued, fully paid and nonassessable, have been issued
      in
      compliance with all federal and state securities laws, and none of such
      outstanding shares was issued in violation of any preemptive rights or similar
      rights to subscribe for or purchase securities. Except as disclosed in Schedule
      3(d): (i) none of the Company's capital stock is subject to preemptive rights
      or
      any other similar rights or any liens or encumbrances suffered or permitted
      by
      the Company; (ii) there are no outstanding options, warrants, scrip, rights
      to
      subscribe to, calls or commitments of any character whatsoever relating to,
      or
      securities or rights convertible into, or exercisable or exchangeable for,
      any
      capital stock of the Company or any of its subsidiaries, or contracts,
      commitments, understandings or arrangements by which the Company or any of
      its
      subsidiaries is or may become bound to issue additional capital stock of the
      Company or any of its subsidiaries or options, warrants, scrip, rights to
      subscribe to, calls or commitments of any character whatsoever relating to,
      or
      securities or rights convertible into, or exercisable or exchangeable for,
      any
      capital stock of the Company or any of its subsidiaries; (iii) there are no
      outstanding debt securities, notes, credit agreements, credit facilities or
      other agreements, documents or instruments evidencing indebtedness of the
      Company or any of its subsidiaries or by which the Company or any of its
      subsidiaries is or may become bound; (iv) there are no financing statements
      securing obligations in any material amounts, either singly or in the aggregate,
      filed in connection with the Company or any of its subsidiaries; (v) there
      are
      no outstanding securities or instruments of the Company or any of its
      subsidiaries which contain any redemption or similar provisions, and there
      are
      no contracts, commitments, understandings or arrangements by which the Company
      or any of its subsidiaries is or may become bound to redeem a security of the
      Company or any of its subsidiaries; (vi) there are no securities or instruments
      containing anti-dilution or similar provisions that will be triggered by the
      issuance of the Securities; (vii) the Company does not have any stock
      appreciation rights or "phantom stock" plans or agreements or any similar plan
      or agreement; and (viii) the Company and its subsidiaries have no liabilities
      or
      obligations required to be disclosed in the SEC Documents but not so disclosed
      in the SEC Documents, other than those incurred in the ordinary course of the
      Company's or its subsidiaries' respective businesses and which, individually
      or
      in the aggregate, do not or would not have a Material Adverse Effect. The
      Company has furnished to the Buyers true, correct and complete copies of the
      Company's Certificate of Incorporation, as amended and as in effect on the
      date
      hereof (the “Certificate
      of Incorporation”),
      and
      the Company's Bylaws, as amended and as in effect on the date hereof (the
“Bylaws”),
      and
      the terms of all securities convertible into, or exercisable or exchangeable
      for, shares of Common Stock and the material rights of the holders thereof
      in
      respect thereto. No further approval or authorization of any stockholder, the
      Board of Directors of the Company or others is required for the issuance and
      sale of the Securities. There are no stockholders agreements, voting agreements
      or other similar agreements with respect to the Company’s capital stock to which
      the Company is a party or, to the knowledge of the Company, between or among
      any
      of the Company’s stockholders. 

     

    
      
        
        

      

      
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      (e)
Issuance
      of Securities.
      The
      issuance of the Convertible Debentures and the Warrants is duly authorized
      and
      free from all taxes, liens and charges with respect to the issue thereof. Upon
      conversion in accordance with the terms of the Convertible Debentures or
      exercise in accordance with the Warrants, as the case may be, the Conversion
      Shares and Warrant Shares, respectively, when issued will be validly issued,
      fully paid and nonassessable, free from all taxes, liens and charges with
      respect to the issue thereof. The Company has reserved from its duly authorized
      capital stock the appropriate number of shares of Common Stock as set forth
      in
      this Agreement. 

     

      (f)
No
      Conflicts.
      The
      execution, delivery and performance of the Transaction Documents by the Company
      and the consummation by the Company of the transactions contemplated hereby
      and
      thereby (including, without limitation, the issuance of the Convertible
      Debentures and the Warrants, and reservation for issuance and issuance of the
      Conversion Shares and the Warrant Shares) will not (i) result in a violation
      of
      any certificate of incorporation, certificate of formation, any certificate
      of
      designations or other constituent documents of the Company or any of its
      subsidiaries, any capital stock of the Company or any of its subsidiaries or
      bylaws of the Company or any of its subsidiaries or (ii) conflict with, or
      constitute a default (or an event which with notice or lapse of time or both
      would become a default) in any respect under, or give to others any rights
      of
      termination, amendment, acceleration or cancellation of, any agreement,
      indenture or instrument to which the Company or any of its subsidiaries is
      a
      party, or (iii) result in a violation of any law, rule, regulation, order,
      judgment or decree (including foreign, federal and state securities laws and
      regulations and the rules and regulations of the National Association of
      Securities Dealers Inc.’s OTC Bulletin Board) applicable to the Company or any
      of its subsidiaries or by which any property or asset of the Company or any
      of
      its subsidiaries is bound or affected; except 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.
      The
      business of the Company and its subsidiaries is not being conducted, and shall
      not be conducted in violation of any material law, ordinance, or regulation
      of
      any governmental entity. Except as specifically contemplated by this Agreement
      and as required under the Securities Act and any applicable state securities
      laws, the Company is not required to obtain any consent, authorization or order
      of, or make any filing or registration with, any court or governmental agency
      in
      order for it to execute, deliver or perform any of its obligations under or
      contemplated by this Agreement or the Registration Rights Agreement in
      accordance with the terms hereof or thereof. All consents, authorizations,
      orders, filings and registrations which the Company is required to obtain
      pursuant to the preceding sentence have been obtained or effected on or prior
      to
      the date hereof. The Company and its subsidiaries are unaware of any facts
      or
      circumstance, which might give rise to any of the foregoing.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

     (g)          
      SEC
      Documents; Financial Statements.
      The
      Company has filed all reports, schedules, forms, statements and other documents
      required to be filed by it with the SEC under the Securities Exchange Act of
      1934, as amended (the “Exchange
      Act”),
      for
      the two years preceding the date hereof (or such shorter period as the Company
      was required by law or regulation to file such material) (all of the foregoing
      filed prior to the date hereof or amended after the date hereof and all exhibits
      included therein and financial statements and schedules thereto and documents
      incorporated by reference therein, being hereinafter referred to as the
“SEC
      Documents”)
      on
      timely basis or has received a valid extension of such time of filing and has
      filed any such SEC Document prior to the expiration of any such extension.
      The
      Company has delivered to the Buyers or their representatives, or made available
      through the SEC’s website at http://www.sec.gov., true and complete copies of
      the SEC Documents. As of their respective dates, the SEC Documents complied
      in
      all material respects with the requirements of the Exchange Act and the rules
      and regulations of the SEC promulgated thereunder applicable to the SEC
      Documents, and none of the SEC Documents, at the time they were filed with
      the
      SEC, 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 the light of the circumstances under which they were
      made, not misleading. As of their respective dates, the financial statements
      of
      the Company included in the SEC Documents complied as to form in all material
      respects with applicable accounting requirements and the published rules and
      regulations of the SEC with respect thereto. Such financial statements have
      been
      prepared in accordance with generally accepted accounting principles,
      consistently applied, during the periods involved (except (i) as may be
      otherwise indicated in such financial statements or the notes thereto, or (ii)
      in the case of unaudited interim statements, to the extent they may exclude
      footnotes or may be condensed or summary statements) and fairly present in
      all
      material respects the financial position of the Company as of the dates thereof
      and the results of its operations and cash flows for the periods then ended
      (subject, in the case of unaudited statements, to normal year-end audit
      adjustments). No other information provided by or on behalf of the Company
      to
      the Buyers which is not included in the SEC Documents, including, without
      limitation, information referred to in Section 2(i) of this Agreement, contains
      any untrue statement of a material fact or omits to state any material fact
      necessary in order to make the statements therein, in the light of the
      circumstance under which they are or were made and not misleading. 

     

      (h)
10(b)-5.
      To the
      Company’s knowledge, the SEC Documents do not include any untrue statements of
      material fact, nor do they omit to state any material fact required to be stated
      therein necessary to make the statements made, in light of the circumstances
      under which they were made, not misleading.

     

      (i)
Absence
      of Litigation.
      There
      is no action, suit, proceeding, inquiry or investigation before or by any court,
      public board, government agency, self-regulatory organization or body pending
      against or affecting the Company, the Common Stock or any of the Company’s
      subsidiaries, wherein an unfavorable decision, ruling or finding would (i)
      have
      a Material Adverse Effect.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

     (j)   Acknowledgment
      Regarding Buyer’s Purchase of the Convertible Debentures.
      The
      Company acknowledges and agrees that each Buyer is acting solely in the capacity
      of an arm’s length purchaser with respect to this Agreement and the transactions
      contemplated hereby. The Company further acknowledges that each Buyer is not
      acting as a financial advisor or fiduciary of the Company (or in any similar
      capacity) with respect to this Agreement and the transactions contemplated
      hereby and any advice given by each Buyer or any of their respective
      representatives or agents in connection with this Agreement and the transactions
      contemplated hereby is merely incidental to such Buyer’s purchase of the
      Securities. The Company further represents to each Buyer that the Company’s
      decision to enter into this Agreement has been based solely on the independent
      evaluation by the Company and its representatives.

     

      (k)
No
      General Solicitation.
      Neither
      the Company, nor any of its affiliates, nor any person acting on its or their
      behalf, has engaged in any form of general solicitation or general advertising
      (within the meaning of Regulation D under the Securities Act) in connection
      with
      the offer or sale of the Securities.

     

      (l)
No
      Integrated Offering.
      Neither
      the Company, nor any of its affiliates, nor any person acting on its or their
      behalf has, directly or indirectly, made any offers or sales of any security
      or
      solicited any offers to buy any security, under circumstances that would require
      registration of the Securities under the Securities Act or cause this offering
      of the Securities to be integrated with prior offerings by the Company for
      purposes of the Securities Act.

     

      (m)
Employee
      Relations.
      Neither
      the Company nor any of its subsidiaries is involved in any labor dispute or,
      to
      the knowledge of the Company or any of its subsidiaries, is any such dispute
      threatened. None of the Company’s or its subsidiaries’ employees is a member of
      a union and the Company and its subsidiaries believe that their relations with
      their employees are good.

     

      (n)
Intellectual
      Property Rights.
      The
      Company and its subsidiaries own or possess adequate rights or licenses to
      use
      all material trademarks, trade names, service marks, service mark registrations,
      service names, patents, patent rights, copyrights, inventions, licenses,
      approvals, governmental authorizations, trade secrets and rights necessary
      to
      conduct their respective businesses as now conducted. The Company and its
      subsidiaries do not have any knowledge of any infringement by the Company or
      its
      subsidiaries of trademark, trade name rights, patents, patent rights,
      copyrights, inventions, licenses, service names, service marks, service mark
      registrations, trade secret or other similar rights of others, and, to the
      knowledge of the Company there is no claim, action or proceeding being made
      or
      brought against, or to the Company’s knowledge, being threatened against, the
      Company or its subsidiaries regarding trademark, trade name, patents, patent
      rights, invention, copyright, license, service names, service marks, service
      mark registrations, trade secret or other infringement; and the Company and
      its
      subsidiaries are unaware of any facts or circumstances which might give rise
      to
      any of the foregoing.

     

      (o)
Environmental
      Laws.
      The
      Company and its subsidiaries are (i) in compliance with any and all material
      applicable foreign, federal, state and local laws and regulations relating
      to
      the protection of human health and safety, the environment or hazardous or
      toxic
      substances or wastes, pollutants or contaminants (“Environmental
      Laws”),
      (ii)
      have received all material permits, licenses or other approvals required of
      them
      under applicable Environmental Laws to conduct their respective businesses
      and
      (iii) are in material compliance with all material terms and conditions of
      any
      such permit, license or approval.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

      (p)
Title.
      All
      real property and facilities held under lease by the Company and its
      subsidiaries are held by them under valid, subsisting and enforceable leases
      with such exceptions as are not material and do not interfere with the use
      made
      and proposed to be made of such property and buildings by the Company and its
      subsidiaries.

     

      (q)
Insurance.
      The
      Company and each of its subsidiaries is insured by insurers of recognized
      financial responsibility against such losses and risks and in such amounts
      as
      management of the Company believes to be prudent and customary in the businesses
      in which the Company and its subsidiaries are engaged. Neither the Company
      nor
      any such subsidiary has been refused any insurance coverage sought or applied
      for and neither the Company nor any such subsidiary has any reason to believe
      that it will not be able to renew its 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 at a cost that would not materially and
      adversely affect the condition, financial or otherwise, or the earnings,
      business or operations of the Company and its subsidiaries, taken as a
      whole.

     

      (r)
Regulatory
      Permits.
      The
      Company and its subsidiaries possess all material certificates, authorizations
      and permits issued by the appropriate federal, state or foreign regulatory
      authorities necessary to conduct their respective businesses, and neither the
      Company nor any such subsidiary has received any notice of proceedings relating
      to the revocation or modification of any such certificate, authorization or
      permit.

     

      (s)
Internal
      Accounting Controls.
      It
      will, at the earliest commercially practicable time and in no event later than
      five (5) days after the First Closing, engage in commercially reasonable efforts
      to hire at least one additional qualified financial professional and, upon
      the
      hiring of such person, assign to him or her duties and responsibilities that
      would materially mitigate any deficiencies in the Company’s accounting processes
      relating to segregation of duties. 

     

      (t)
No
      Material Adverse Breaches, etc.
      Neither
      the Company nor any of its subsidiaries is subject to any charter, corporate
      or
      other legal restriction, or any judgment, decree, order, rule or regulation
      which in the judgment of the Company’s officers has or is expected in the future
      to have a Material Adverse Effect on the business, properties, operations,
      financial condition, results of operations or prospects of the Company or its
      subsidiaries. Neither the Company nor any of its subsidiaries is in breach
      of
      any contract or agreement which breach, in the judgment of the Company’s
      officers, has or is expected to have a Material Adverse Effect on the business,
      properties, operations, financial condition, results of operations or prospects
      of the Company or its subsidiaries.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

     (u)              
      Tax
      Status.
      Except
      as disclosed in Schedule 3(t), the Company and each of its subsidiaries has
      made
      and filed all federal and state income and all other tax returns, reports and
      declarations required by any jurisdiction to which it is subject and (unless
      and
      only to the extent that the Company and each of its subsidiaries has set aside
      on its books provisions reasonably adequate for the payment of all unpaid and
      unreported taxes) has paid all taxes and other governmental assessments and
      charges that are material in amount, shown or determined to be due on such
      returns, reports and declarations, except those being contested in good faith
      and has set aside on its books provision reasonably adequate for the payment
      of
      all taxes for periods subsequent to the periods to which such returns, reports
      or declarations apply. There are no unpaid taxes in any material amount claimed
      to be due by the taxing authority of any jurisdiction, and the officers of
      the
      Company know of no basis for any such claim.

     

      (v)
Certain
      Transactions.
      Except
      for arm’s length transactions pursuant to which the Company makes payments in
      the ordinary course of business upon terms no less favorable than the Company
      could obtain from third parties and other than the grant of stock options
      disclosed in the SEC Documents, none of the officers, directors, or employees
      of
      the Company is presently a party to any transaction with the Company (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 corporation, partnership, trust or other entity
      in
      which any officer, director, or any such employee has a substantial interest
      or
      is an officer, director, trustee or partner.

     

      (w)
Fees
      and Rights of First Refusal.
      The
      Company is not obligated to offer the securities offered hereunder on a right
      of
      first refusal basis or otherwise to any third parties including, but not limited
      to, current or former shareholders of the Company, underwriters, brokers, agents
      or other third parties.

     

      (x)
Investment
      Company.
      The
      Company is not, and is not an affiliate of, and immediately after receipt of
      payment for the Securities, will not be or be an affiliate of, an “investment
      company” within the meaning of the Investment Company Act of 1940, as amended.
      The Company shall conduct its business in a manner so that it will not become
      subject to the Investment Company Act.

     

      (y)
Registration
      Rights.
      Other
      than each of the Buyers, no Person has any right to cause the Company to effect
      the registration under the Securities Act of any securities of the Company.
      There are no outstanding registration statements not yet declared effective
      and
      there are no outstanding comment letters from the SEC or any other regulatory
      agency.

     

      (z)
Private
      Placement.
      Assuming the accuracy of the Buyers’ representations and warranties set forth in
      Section 2, no registration under the Securities Act is required for the offer
      and sale of the Securities by the Company to the Buyers as contemplated hereby.
      The issuance and sale of the Securities hereunder does not contravene the rules
      and regulations of the Primary Market.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

      

       
      (aa)      Listing
      and Maintenance Requirements.
      The
      Company’s Common Stock is registered pursuant to Section 12(b) or 12(g) of the
      Exchange Act, and the Company has taken no action designed to terminate, or
      which to its knowledge is likely to have the effect of, terminating the
      registration of the Common Stock under the Exchange Act nor has the Company
      received any notification that the SEC is contemplating terminating such
      registration. The Company has not, in the twelve (12) months preceding the
      date
      hereof, received notice from any Primary Market on which the Common Stock is
      or
      has been listed or quoted to the effect that the Company is not in compliance
      with the listing or maintenance requirements of such Primary Market. The Company
      is, and has no reason to believe that it will not in the foreseeable future
      continue to be, in compliance with all such listing and maintenance
      requirements.

     

      (bb)
Manipulation
      of Price. 
      The Company has not, and to its knowledge no one acting on its behalf has,
      (i)
      taken, directly or indirectly, any action designed to cause or to result in
      the
      stabilization or manipulation of the price of any security of the Company to
      facilitate the sale or resale of any of the Securities, (ii) sold, bid for,
      purchased, or, paid any compensation for soliciting purchases of, any of the
      Securities, or (iii) paid or agreed to pay to any Person any compensation for
      soliciting another to purchase any other securities of the Company, other than,
      in the case of clauses (ii) and (iii), compensation paid to the Company’s
      placement agent in connection with the placement of the Securities.

     

      (cc)
Dilutive
      Effect.
      The
      Company understands and acknowledges that the number of Conversion Shares
      issuable upon conversion of the Convertible Debentures and the Warrant Shares
      issuable upon exercise of the Warrants will increase in certain circumstances.
      The Company further acknowledges that its obligation to issue Conversion Shares
      upon conversion of the Convertible Debentures in accordance with this Agreement
      and the Convertible Debentures and its obligation to issue the Warrant Shares
      upon exercise of the Warrants in accordance with this Agreement and the
      Warrants, in each case, is absolute and unconditional regardless of the dilutive
      effect that such issuance may have on the ownership interests of other
      stockholders of the Company.

     

    4.  COVENANTS.

     

      (a)
Best
      Efforts.
      Each
      party shall use its best efforts to timely satisfy each of the conditions to
      be
      satisfied by it as provided in Sections 6 and 7 of this Agreement.

     

      (b)
Form
      D.
      The
      Company agrees to file a Form D with respect to the Securities as required
      under
      Regulation D and to provide a copy thereof to each Buyer promptly after such
      filing. The Company shall, on or before the Closing Date, take such action
      as
      the Company shall reasonably determine is necessary to qualify the Securities,
      or obtain an exemption for the Securities for sale to the Buyers at the Closing
      pursuant to this Agreement under applicable securities or “Blue Sky” laws of the
      states of the United States, and shall provide evidence of any such action
      so
      taken to the Buyers on or prior to the Closing Date.

     

      (c)
Reporting
      Status.
      Until
      the earlier of (i) the date as of which the Buyer(s) may sell all of the
      Securities without restriction pursuant to Rule 144(k) promulgated under the
      Securities Act (or successor thereto), or (ii) the date on which (A) the Buyers
      shall have sold all the Securities and (B) none of the Convertible Debentures
      or
      Warrants are outstanding (the “Registration
      Period”),
      the
      Company shall file in a timely manner all reports required to be filed with
      the
      SEC pursuant to the Exchange Act and the regulations of the SEC thereunder,
      and
      the Company shall not terminate its status as an issuer required to file reports
      under the Exchange Act even if the Exchange Act or the rules and regulations
      thereunder would otherwise permit such termination.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

      

        
      (d)          Use
      of
      Proceeds.
      The
      Company will use the proceeds from the sale of the Convertible Debentures for
      general corporate and working capital purposes.

     

      (e)Reservation
      of Shares.
      On the
      date hereof, the Company shall reserve for issuance to the Buyers 100,000,000
      shares for issuance upon conversions of the Convertible Dentures and 8,121,500
      shares for issuance upon exercise of the Warrants (collectively, the
“Share
      Reserve”).
      The
      Company represents that it has sufficient authorized and unissued shares of
      Common Stock available to create the Share Reserve after considering all other
      commitments that may require the issuance of Common Stock. The Company shall
      take all action reasonably necessary to at all times have authorized, and
      reserved for the purpose of issuance, such number of shares of Common Stock
      as
      shall be necessary to effect the full conversion of the Convertible Debentures
      and the full exercise of the Warrants. If at any time the Share Reserve is
      insufficient to effect the full conversion of the Convertible Debentures or
      the
      full exercise of the Warrants, the Company shall increase the Share Reserve
      accordingly. If the Company does not have sufficient authorized and unissued
      shares of Common Stock available to increase the Share Reserve, the Company
      shall call and hold a special meeting of the shareholders within thirty (30)
      days of such occurrence, for the sole purpose of increasing the number of shares
      authorized. The Company’s management shall recommend to the shareholders to vote
      in favor of increasing the number of shares of Common Stock authorized.
      Management shall also vote all of its shares in favor of increasing the number
      of authorized shares of Common Stock.

     

      (f)
Listings
      or Quotation.
      The
      Company’s Common Stock shall be listed or quoted for trading on any of (a) the
      American Stock Exchange, (b) New York Stock Exchange, (c) the Nasdaq Global
      Market, (d) the Nasdaq Capital Market, or (e) the Nasdaq OTC Bulletin Board
      (“OTCBB”)
      (each,
      a “Primary
      Market”).
      The
      Company shall promptly secure the listing of all of the Registrable Securities
      (as defined in the Registration Rights Agreement) upon each national securities
      exchange and automated quotation system, if any, upon which the Common Stock
      is
      then listed (subject to official notice of issuance) and shall maintain such
      listing of all Registrable Securities from time to time issuable under the
      terms
      of the Transaction Documents. 

     

      (g)
Fees
      and Expenses.
      

     

    (i)  Each
      of
      the Company and the Buyer(s) shall pay all costs and expenses incurred by such
      party in connection with the negotiation, investigation, preparation, execution
      and delivery of the Transaction Documents. The Company shall pay Yorkville
      Advisors LLC (“Yorkville”) a fee equal to ten percent (10%) of the Purchase
      Price, which shall be paid pro rata directly out of the gross proceeds of each
      Closing. 

     

    (ii)  The
      Company shall pay a structuring and due diligence fee to Yorkville Advisors
      LLC
      of Thirty Thousand Dollars ($30,000), of which Fifteen Thousand Dollars
      ($15,000) shall have been paid upon the execution of the term sheet evidencing
      this transaction, and Fifteen Thousand Dollars ($15,000) which shall be paid
      directly from the proceeds of the First Closing. 

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

      

        
      (h)         Corporate
      Existence.
      So long
      as any of the Convertible Debentures remain outstanding, the Company shall
      not
      directly or indirectly consummate any merger, reorganization, restructuring,
      reverse stock split consolidation, sale of all or substantially all of the
      Company’s assets or any similar transaction or related transactions (each such
      transaction, an “Organizational
      Change”)
      unless, prior to the consummation an Organizational Change, the Company obtains
      the written consent of each Buyer, which consent shall not be unreasonably
      withheld or delayed. In any such case, the Company will make appropriate
      provision with respect to such holders’ rights and interests to insure that the
      provisions of this Section 4(h) will thereafter be applicable to the Convertible
      Debentures.

     

      (i)
Transactions
      With Affiliates.
      So long
      as any Convertible Debentures are outstanding, the Company shall not, and shall
      cause each of its subsidiaries not to, enter into, amend, modify or supplement,
      or permit any subsidiary to enter into, amend, modify or supplement any
      agreement, transaction, commitment, or arrangement with any of its or any
      subsidiary’s officers, directors, person who were officers or directors at any
      time during the previous two (2) years, stockholders who beneficially own five
      percent (5%) or more of the Common Stock, or Affiliates (as defined below)
      or
      with any individual related by blood, marriage, or adoption to any such
      individual or with any entity in which any such entity or individual owns a
      five
      percent (5%) or more beneficial interest (each a “Related
      Party”),
      except for (a) customary employment arrangements and benefit programs on
      reasonable terms, (b) any investment in an Affiliate of the Company, (c) any
      agreement, transaction, commitment, or arrangement on an arms-length basis
      on
      terms no less favorable than terms which would have been obtainable from a
      person other than such Related Party, (d) any agreement, transaction,
      commitment, or arrangement which is approved by a majority of the disinterested
      directors of the Company; for purposes hereof, any director who is also an
      officer of the Company or any subsidiary of the Company shall not be a
      disinterested director with respect to any such agreement, transaction,
      commitment, or arrangement. “Affiliate”
for
      purposes hereof means, with respect to any person or entity, another person
      or
      entity that, directly or indirectly, (i) has a ten percent (10%) or more equity
      interest in that person or entity, (ii) has ten percent (10%) or more common
      ownership with that person or entity, (iii) controls that person or entity,
      or
      (iv) shares common control with that person or entity. “Control”
or
      “controls”
for
      purposes hereof means that a person or entity has the power, direct or indirect,
      to conduct or govern the policies of another person or entity.

     

      (j)
Transfer
      Agent.
      The
      Company covenants and agrees that, in the event that the Company’s agency
      relationship with the transfer agent should be terminated for any reason prior
      to a date which is two (2) years after the Closing Date, the Company shall
      immediately appoint a new transfer agent and shall require that the new transfer
      agent execute and agree to be bound by the terms of the Irrevocable Transfer
      Agent Instructions (as defined herein).

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

      

        
      (k)            Restriction
      on Issuance of the Capital Stock.
      So long
      as any Convertible Debentures are outstanding, except for exercises or
      conversions of currently outstanding options and warrants disclosed in the
      SEC
      Documents or the disclosure schedules hereto, the Company shall not, except
      for
      Permitted Issuances, without the prior written consent of the Buyer(s), which
      consent shall not be unreasonably withheld or delayed (i) issue or sell shares
      of Common Stock or Preferred Stock without consideration or for a consideration
      per share less than the bid price of the Common Stock determined immediately
      prior to its issuance, (ii) issue any preferred stock, warrant, option, right,
      contract, call, or other security or instrument granting the holder thereof
      the
      right to acquire Common Stock without consideration or for a consideration
      less
      than such Common Stock’s Bid Price determined immediately prior to it’s
      issuance, (iii) enter into any security instrument, except Permitted Liens,
      granting the holder a security interest in any and all assets of the Company,
      or
      (iv) file any registration statement on Form S-8.
      .
“Permitted Issuances” shall mean (i) securities
      issuable pursuant to any agreement in effective as of the date hereof and as
      set
      forth in the Disclosure Schedule (which is an exhaustive list); and (ii) up
      to 4
      million securities (or options to purchase such securities) issuable to
      officers, directors, employees, or consultants to the Company pursuant to a
      stock option/stock incentive plan to be approved by the Company's Board of
      Directors and shareholders. “Permitted Liens” shall mean (i) liens
      in
      effect on the date hereof (and renewals and replacements thereof); (ii) liens
      arising from purchase money liens or the interests of lessors under capital
      leases to the extent that such liens or interests secure purchase money
      indebtedness and so long as such Lien attaches only to the asset purchased
      or
      acquired and the proceeds thereof; and (iii) liens granted as security for
      surety or appeal bonds in connection with obtaining such bonds in the ordinary
      course of business.

     

      (l)
Neither
      the Buyer(s) nor any of its affiliates have an open short position in the Common
      Stock of the Company, and the Buyer(s) agrees that it shall not, and that it
      will cause its affiliates not to, engage in any short sales of or hedging
      transactions with respect to the Common Stock as long as any Convertible
      Debentures shall remain outstanding. 

     

      (m)
Rights
      of First Refusal.
      From
      the date of the First Closing until no more than $100,000 remains due and owing
      on the Convertible Debentures , if
      the
      Company intends to raise additional capital by the issuance or sale of either
      debt or capital stock of the Company, including without limitation shares of
      any
      class of common stock, any class of preferred stock, options, warrants or any
      other securities convertible or exercisable into shares of common stock (whether
      the offering is conducted by the Company, underwriter, placement agent or any
      third party) the Company shall be obligated to offer to the Buyers such issuance
      or sale of debt or capital stock, by providing in writing the principal amount
      of capital it intends to raise and outline of the material terms of such capital
      raise, prior to the offering such issuance or sale of capital stock  to any
      third parties including, but not limited to, current or former officers or
      directors, current or former shareholders and/or investors of the obligor,
      underwriters, brokers, agents or other third parties.  The Buyers shall
      have five (5) business days from receipt of such notice of the sale or issuance
      to accept or reject all or a portion of such capital raising offer.

     

      (n)
Additional
      Registration Statements.
      Until
      the effective date of the initial Registration Statement, the Company will
      not
      file a registration statement under the Securities Act relating to securities
      that are not the Securities.

     

      (o)
Review
      of Public Disclosures.
      All SEC
      filings (including, without limitation, all filings required under the Exchange
      Act, which include Forms 10-Q and 10-QSB, 10-K and 10K-SB, 8-K, etc) and other
      public disclosures made by the Company, including, without limitation, all
      press
      releases, investor relations materials, and scripts of analysts meetings and
      calls, shall be reviewed and approved for release by the Company’s attorneys
      and, if containing financial information, the Company’s independent certified
      public accountants.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

      

      
      (p)       Disclosure
      of Transaction.
      Within
      four business days following the date of this Agreement, the Company shall
      file
      a Current Report on SEC Form 8-K describing the terms of the transactions
      contemplated by the Transaction Documents in the form required by the Exchange
      Act and attaching the material Transaction Documents (including, without
      limitation, this Agreement, the form of the Convertible Debenture, the form
      of
      Warrant and the form of the Registration Rights Agreement) as exhibits to such
      filing.

     

    5.  TRANSFER
      AGENT INSTRUCTIONS.

     

      (a)
The
      Company shall issue the Irrevocable Transfer Agent Instructions to its transfer
      agent, and any subsequent transfer agent, irrevocably appointing David Gonzalez,
      Esq. as the Company’s agent for purpose instructing its transfer agent to issue
      certificates or credit shares to the applicable balance accounts at The Deposity
      Trust Company (“DTC”),
      registered in the name of each Buyer or its respective nominee(s), for the
      Conversion Shares and the Warrant Shares issued upon conversion of the
      Convertible Debentures or exercise of the Warrants as specified from time to
      time by each Buyer to the Company upon conversion of the Convertible Debentures
      or exercise of the Warrants. The Company shall not change its transfer agent
      without the express written consent of the Buyers, which may be withheld by
      the
      Buyers in their sole discretion. The Company warrants that no instruction other
      than the Irrevocable Transfer Agent Instructions referred to in this Section
      5,
      and stop transfer instructions to give effect to Section 2(g) hereof (in the
      case of the Conversion Shares or Warrant Shares prior to registration of such
      shares under the Securities Act) will be given by the Company to its transfer
      agent, and that the Securities shall otherwise be freely transferable on the
      books and records of the Company as and to the extent provided in this Agreement
      and the other Transaction Documents. If a Buyer effects a sale, assignment
      or
      transfer of the Securities in accordance with Section 2(f), the Company shall
      promptly instruct its transfer agent to issue one or more certificates or credit
      shares to the applicable balance accounts at DTC in such name and in such
      denominations as specified by such Buyer to effect such sale, transfer or
      assignment and, with respect to any transfer, shall permit the transfer. In
      the
      event that such sale, assignment or transfer involves Conversion Shares or
      Warrant Shares sold, assigned or transferred pursuant to an effective
      registration statement or pursuant to Rule 144, the transfer agent shall issue
      such Securities to the Buyer, assignee or transferee, as the case may be,
      without any restrictive legend. Nothing in this Section 5 shall affect in any
      way the Buyer’s obligations and agreement to comply with all applicable
      securities laws upon resale of Conversion Shares. The Company acknowledges
      that
      a breach by it of its obligations hereunder will cause irreparable harm to
      the
      Buyer by vitiating the intent and purpose of the transaction contemplated
      hereby. Accordingly, the Company acknowledges that the remedy at law for a
      breach of its obligations under this Section 5 will be inadequate and agrees,
      in
      the event of a breach or threatened breach by the Company of the provisions
      of
      this Section 5, that the Buyer(s) shall be entitled, in addition to all
      other available remedies, to an injunction restraining any breach and requiring
      immediate issuance and transfer, without the necessity of showing economic
      loss
      and without any bond or other security being required.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.  CONDITIONS
      TO THE COMPANY’S OBLIGATION TO SELL.

     

    The
      obligation of the Company hereunder to issue and sell the Convertible Debentures
      to the Buyer(s) at the Closings is subject to the satisfaction, at or before
      the
      Closing Dates, of each of the following conditions, provided that these
      conditions are for the Company’s sole benefit and may be waived by the Company
      at any time in its sole discretion:

     

      (a)
Each
      Buyer shall have executed the Transaction Documents and delivered them to the
      Company.

     

      (b)
The
      Buyer(s) shall have delivered to the Company the Purchase Price for the
      Convertible Debentures and Warrants in the respective amounts as set forth
      next
      to each Buyer as set forth on Schedule I attached hereto, minus any fees to
      be
      paid directly from the proceeds the Closings as set forth herein, by wire
      transfer of immediately available U.S. funds pursuant to the wire instructions
      provided by the Company.

     

      (c)
The
      representations and warranties of the Buyer(s) shall be true and correct in
      all
      material respects as of the date when made and as of the Closing Dates as though
      made at that time (except for representations and warranties that speak as
      of a
      specific date), and the Buyer(s) shall have performed, satisfied and complied
      in
      all material respects with the covenants, agreements and conditions required
      by
      this Agreement to be performed, satisfied or complied with by the Buyer(s)
      at or
      prior to the Closing Dates. 

     

    7.  CONDITIONS
      TO THE BUYER’S OBLIGATION TO PURCHASE.

     

      (a) The
      obligation of the Buyer(s) hereunder to purchase the Convertible Debentures
      at
      the First Closing is subject to the satisfaction, at or before the First Closing
      Date, of each of the following conditions:

     

    (i)  The
      Company shall have executed the Transaction Documents and delivered the same
      to
      the Buyers.

     

    (ii)  The
      Common Stock shall be authorized for quotation or trading on the Primary Market,
      trading in the Common Stock shall not have been suspended for any reason.

     

    (iii)  The
      representations and warranties of the Company shall be true and correct in
      all
      material respects (except to the extent that any of such representations and
      warranties is already qualified as to materiality in Section 3 above, in which
      case, such representations and warranties shall be true and correct without
      further qualification) as of the date when made and as of the First Closing
      Date
      as though made at that time (except for representations and warranties that
      speak as of a specific date) and the Company shall have performed, satisfied
      and
      complied in all material respects with the covenants, agreements and conditions
      required by this Agreement to be performed, satisfied or complied with by the
      Company at or prior to the First Closing Date.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    (iv)  The
      Company shall have executed and delivered to the Buyer(s) the Convertible
      Debentures and Warrants in the respective amounts set forth opposite each
      Buyer’s name on Schedule I attached hereto.

     

    (v)  The
      Buyers shall have received an opinion of counsel from counsel to the Company
      in
      a form satisfactory to the Buyers.

     

    (vi)  The
      Company shall have provided to the Buyers a true copy of a certificate of good
      standing evidencing the formation and good standing of the Company from the
      secretary of state (or comparable office) from the jurisdiction in which the
      Company is incorporated, as of a date within 10 days of the First Closing
      Date.

     

    (vii)  The
      Company shall have delivered to the Buyers a certificate, executed by the
      Secretary of the Company and dated as of the First Closing Date, as to (i)
      the
      resolutions consistent with Section 3(c) as adopted by the Company's Board
      of
      Directors in a form reasonably acceptable to such Buyer, (ii) the Certificate
      of
      Incorporation and (iii) the Bylaws, each as in effect at the First
      Closing.

     

    (viii)  The
      Company shall have filed a form UCC-1 or such other forms as may be required
      to
      perfect the Buyer’s interest in the Pledged Property as detailed in the Security
      Agreement dated the date hereof and provided proof of such filing to the
      Buyer(s).

     

    (ix)  The
      Pledged Shares as well as executed and medallion guaranteed stock powers as
      required pursuant to the Pledge Agreement shall have been delivered to the
      Escrow Agent.

     

    (x)  The
      Company shall have provided to the Buyer an acknowledgement, to the satisfaction
      of the Buyer, from the Company’s independent certified public accountants as to
      its ability to provide all consents required in order to file a registration
      statement in connection with this transaction.

     

    (xi)  The
      Company shall have created the Share Reserve. 

     

    (xii)  The
      Irrevocable Transfer Agent Instructions, in form and substance satisfactory
      to
      the Buyer, shall have been delivered to and acknowledged in writing by the
      Company’s transfer agent.

     

    (b)  The
      obligation of the Buyer(s) hereunder to accept the Convertible Debentures at
      the
      Second Closing is subject to the satisfaction, at or before the Second Closing
      Date, of each of the following conditions:

     

    (i)  The
      Common Stock shall be authorized for quotation or trading on the Primary Market,
      trading in the Common Stock shall not have been suspended for any reason.

     

    (ii)  The
      representations and warranties of the Company shall be true and correct in
      all
      material respects (except to the extent that any of such representations and
      warranties is already qualified as to materiality in Section 3 above, in which
      case, such representations and warranties shall be true and correct without
      further qualification) as of the date when made and as of the Second Closing
      Date as though made at that time (except for representations and warranties
      that
      speak as of a specific date) and the Company shall have performed, satisfied
      and
      complied in all material respects with the covenants, agreements and conditions
      required by this Agreement to be performed, satisfied or complied with by the
      Company at or prior to the Second Closing Date. 

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    (iii)  The
      Company shall have executed and delivered to the Buyers the Convertible
      Debentures in the respective amounts set forth opposite each Buyers name on
      Schedule I attached hereto.

     

    (iv)  The
      Company shall have filed, or certify that it will file on the Second Closing
      Date, the Registration Statement with the SEC materially in compliance with
      the
      rules and regulations promulgated by the SEC for filing thereof.

     

    (v)  The
      Company shall have hired at least one additional qualified financial
      professional and such person shall not be the chief financial officer of the
      Company.

     

    (vi)  The
      Company shall continue to employ a chief financial officer.

     

    (vii)  The
      Company shall have executed, in favor of the Buyers, a mortgage with customary
      and standard terms in favor of the Buyer on the properties set forth in Exhibit
      C hereto, otherwise known as the Welsh Field, Jefferson Parish,
      Louisiana.

     

    (viii)  The
      Company shall have certified, in a certificate executed by two officers of
      the
      Company and dated as of the Second Closing Date, that all conditions to the
      Second Closing have been satisfied.

     

      (c)
The
      obligation of the Buyer(s) hereunder to accept the Convertible Debentures at
      the
      Third Closing is subject to the satisfaction, at or before the Third Closing
      Date, of each of the following conditions:

     

    (i)  The
      Common Stock shall be authorized for quotation or trading on the Primary Market,
      trading in the Common Stock shall not have been suspended for any reason.

     

    (ii)  The
      representations and warranties of the Company shall be true and correct in
      all
      material respects (except to the extent that any of such representations and
      warranties is already qualified as to materiality in Section 3 above, in which
      case, such representations and warranties shall be true and correct without
      further qualification) as of the date when made and as of the Third Closing
      Date
      as though made at that time (except for representations and warranties that
      speak as of a specific date) and the Company shall have performed, satisfied
      and
      complied in all material respects with the covenants, agreements and conditions
      required by this Agreement to be performed, satisfied or complied with by the
      Company at or prior to the Third Closing Date. 

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    (iii)  The
      Company shall have executed and delivered to the Buyers the Convertible
      Debentures in the respective amounts set forth opposite each Buyers name on
      Schedule I attached hereto.

     

    (iv)  The
      Company shall have certified that the SEC has declared the Registration
      Statement effective.

     

    (v)  The
      Company shall have certified, in a certificate executed by two officers of
      the
      Company and dated as of the Third Closing Date, that all conditions to the
      Third
      Closing have been satisfied.

     

    

     

    8.  INDEMNIFICATION.

     

      (a)
In
      consideration of the Buyer’s execution and delivery of this Agreement and
      acquiring the Convertible Debentures and the Conversion Shares hereunder, and
      in
      addition to all of the Company’s other obligations under this Agreement, the
      Company shall defend, protect, indemnify and hold harmless the Buyer(s) and
      each
      other holder of the Convertible Debentures and the Conversion Shares, and all
      of
      their officers, directors, employees and agents (including, without
      limitation, those retained in connection with the transactions contemplated
      by
      this Agreement) (collectively, the “Buyer
      Indemnitees”)
      from
      and against any and all actions, causes of action, suits, claims, losses, costs,
      penalties, fees, liabilities and damages, and expenses in connection therewith,
      and including reasonable attorneys’ fees and disbursements (the “Indemnified
      Liabilities”),
      incurred by the Buyer Indemnitees or any of them as a result of, or arising
      out
      of, or relating to (a) any misrepresentation or breach of any representation
      or
      warranty made by the Company in this Agreement, the Convertible Debentures
      or
      the other Transaction Documents or any other certificate, instrument or document
      contemplated hereby or thereby, (b) any breach of any covenant, agreement or
      obligation of the Company contained in this Agreement, or the other Transaction
      Documents or any other certificate, instrument or document contemplated hereby
      or thereby, or (c) any cause of action, suit or claim brought or made against
      such Buyer Indemnitee based on material misrepresentations or due to a material
      breach and arising out of or resulting from the execution, delivery, performance
      or enforcement of this Agreement or any other instrument, document or agreement
      executed pursuant hereto by any of the parties hereto, any transaction financed
      or to be financed in whole or in part, directly or indirectly, with the proceeds
      of the issuance of the Convertible Debentures or the status of the Buyer or
      holder of the Convertible Debentures the Conversion Shares, as a Buyer of
      Convertible Debentures in the Company; provided, however, that indemnification
      shall not apply to Indemnified Liabilities resulting from the gross negligence
      or willful misconduct of Buyer(s). To the extent that the foregoing undertaking
      by the Company may be unenforceable for any reason, the Company shall make
      the
      maximum contribution to the payment and satisfaction of each of the Indemnified
      Liabilities, which is permissible under applicable law.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

      

     (b)
In
      consideration of the Company’s execution and delivery of this Agreement, and in
      addition to all of the Buyer’s other obligations under this Agreement, the Buyer
      shall defend, protect, indemnify and hold harmless the Company and all of its
      officers, directors, employees and agents (including, without limitation, those
      retained in connection with the transactions contemplated by this Agreement)
      (collectively, the “Company
      Indemnitees”)
      from
      and against any and all Indemnified Liabilities incurred by the Indemnitees
      or
      any of them as a result of, or arising out of, or relating to (a) any
      misrepresentation or breach of any representation or warranty made by the
      Buyer(s) in this Agreement, instrument or document contemplated hereby or
      thereby executed by the Buyer, (b) any breach of any covenant, agreement or
      obligation of the Buyer(s) contained in this Agreement, the Transaction
      Documents or any other certificate, instrument or document contemplated hereby
      or thereby executed by the Buyer, or (c) any cause of action, suit or claim
      brought or made against such Company Indemnitee based on material
      misrepresentations or due to a material breach and arising out of or resulting
      from the execution, delivery, performance or enforcement of this Agreement,
      the
      Transaction Documents or any other instrument, document or agreement executed
      pursuant hereto by any of the parties hereto. To the extent that the foregoing
      undertaking by each Buyer may be unenforceable for any reason, each Buyer shall
      make the maximum contribution to the payment and satisfaction of each of the
      Indemnified Liabilities, which is permissible under applicable law.

     

    9.  GOVERNING
      LAW: MISCELLANEOUS.

     

      (a)
Governing
      Law.
      This
      Agreement shall be governed by and interpreted in accordance with the laws
      of
      the State of New Jersey without regard to the principles of conflict of laws.
      The parties further agree that any action between them shall be heard in Hudson
      County, New Jersey, and expressly consent to the jurisdiction and venue of
      the
      Superior Court of New Jersey, sitting in Hudson County and the United States
      District Court for the District of New Jersey sitting in Newark, New Jersey
      for
      the adjudication of any civil action asserted pursuant to this
      Paragraph.

     

      (b)
Counterparts.
      This
      Agreement may be executed in two or more identical counterparts, all of which
      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.
      In
      the event any signature page is delivered by facsimile transmission, the party
      using such means of delivery shall cause four (4) additional original executed
      signature pages to be physically delivered to the other party, except for
      signature pages to the Convertible Debentures and Warrants, within five (5)
      days
      of the execution and delivery hereof.

     

      (c)
Headings.
      The
      headings of this Agreement are for convenience of reference and shall not form
      part of, or affect the interpretation of, this Agreement.

     

      (d)
Severability.
      If any
      provision of this Agreement shall be invalid or unenforceable in any
      jurisdiction, such invalidity or unenforceability shall not affect the validity
      or enforceability of the remainder of this Agreement in that jurisdiction or
      the
      validity or enforceability of any provision of this Agreement in any other
      jurisdiction.

     

      (e)
Entire
      Agreement, Amendments.
      This
      Agreement supersedes all other prior oral or written agreements between the
      Buyer(s), the Company, their affiliates and persons acting on their behalf
      with
      respect to the matters discussed herein, and this Agreement and the instruments
      referenced herein contain the entire understanding of the parties with respect
      to the matters covered herein and therein and, except as specifically set forth
      herein or therein, neither the Company nor any Buyer makes any representation,
      warranty, covenant or undertaking with respect to such matters. No provision
      of
      this Agreement may be waived or amended other than by an instrument in writing
      signed by the party to be charged with enforcement.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

       
      (f)          Notices.
      Any
      notices, consents, waivers, or other communications required or permitted to
      be
      given under the terms of this Agreement must be in writing and will be deemed
      to
      have been delivered (i) upon receipt, when delivered personally; (ii) upon
      confirmation of receipt, when sent by facsimile; (iii) three (3) days after
      being sent by U.S. certified mail, return receipt requested, or (iv) one (1)
      day
      after deposit with a nationally recognized overnight delivery service, in each
      case properly addressed to the party to receive the same. The addresses and
      facsimile numbers for such communications shall be:

     

    
      	
              If
                to the Company, to:

            	
              Unicorp,
                Inc.

            
	 	
              5075
                Westheimer Road, Suite 975

            
	 	
              Houston,
                TX 77056

            
	 	
              Attention:
                 Kevan
                Casey

            
	 	
              Telephone: (713)
                402-6717

            
	 	
              Facsimile: (713)
                402-6799

            
	 	 
	
              With
                a copy to:

            	
              Sichenzia
                Ross Friedman Ference LLP

            
	 	
              61
                Broadway, 32nd
                Floor

            
	 	
              New
                York, New York 10006

            
	 	
              Attention:
                Marc Ross, Esq.

            
	 	
              Telephone:
                (212) 930-9700

            
	 	
              Facsimile:
                (212) 930-9725

            
	 	 
	 	 

    

     

    If
      to the
      Buyer(s), to its address and facsimile number on Schedule I, with copies to
      the
      Buyer’s counsel as set forth on Schedule I. Each party shall provide five (5)
      days’ prior written notice to the other party of any change in address or
      facsimile number.

     

      (g)
Successors
      and Assigns.
      This
      Agreement shall be binding upon and inure to the benefit of the parties and
      their respective successors and assigns. Neither the Company nor any Buyer
      shall
      assign this Agreement or any rights or obligations hereunder without the prior
      written consent of the other party hereto.

     

      (h)
No
      Third Party Beneficiaries.
      This
      Agreement is intended for the benefit of the parties hereto and their respective
      permitted successors and assigns, and is not for the benefit of, nor may any
      provision hereof be enforced by, any other person.

     

      (i)
Survival.
      Unless
      this Agreement is terminated under Section 9(l), the representations and
      warranties of the Company and the Buyer(s) contained in Sections 2 and 3, the
      agreements and covenants set forth in Sections 4, 5 and 9, and the
      indemnification provisions set forth in Section 8, shall survive the Closing
      for
      a period of two (2) years following the date on which the Convertible Debentures
      are converted, redeemed or otherwise disposed of in full. The Buyer(s) shall
      be
      responsible only for its own representations, warranties, agreements and
      covenants hereunder.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

      

          
      (j)           Publicity.
      The
      Company and the Buyer(s) shall have the right to approve, before issuance any
      press release or any other public statement with respect to the transactions
      contemplated hereby made by any party; provided, however, that the Company
      shall
      be entitled, without the prior approval of the Buyer(s), to issue any press
      release or other public disclosure with respect to such transactions required
      under applicable securities or other laws or regulations (the Company shall
      use
      its best efforts to consult the Buyer(s) in connection with any such press
      release or other public disclosure prior to its release and Buyer(s) shall
      be
      provided with a copy thereof upon release thereof).

     

      (k)
Further
      Assurances.
      Each
      party shall do and perform, or cause to be done and performed, all such further
      acts and things, and shall execute and deliver all such other agreements,
      certificates, instruments and documents, as the other party may reasonably
      request in order to carry out the intent and accomplish the purposes of this
      Agreement and the consummation of the transactions contemplated
      hereby.

     

      (l)
Termination.
      In the
      event that the First Closing shall not have occurred with respect to the Buyers
      on or before five (5) business days from the date hereof due to the Company’s or
      the Buyer’s failure to satisfy the conditions set forth in Sections 6 and 7
      above (and the non-breaching party’s failure to waive such unsatisfied
      condition(s)), the non-breaching party shall have the option to terminate this
      Agreement with respect to such breaching party at the close of business on
      such
      date without liability of any party to any other party; provided, however,
      that
      if this Agreement is terminated by the Company pursuant to this Section 9(l),
      the Company shall remain obligated to reimburse the Buyer(s) for the fees and
      expenses of Yorkville Advisors LLC described in Section 4(g)(ii)
      above.

     

      (m)
Brokerage.
      The
      Company represents that no broker, agent, finder or other party has been
      retained by it in connection with the transactions contemplated hereby and
      that
      no other fee or commission has been agreed by the Company to be paid for or
      on
      account of the transactions contemplated hereby. 

     

      (n)
No
      Strict Construction.
      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.

     

    

    [REMAINDER
      PAGE INTENTIONALLY LEFT BLANK]

    
      
         

        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF,
      each
      Buyer and the Company have caused their respective signature page to this
      Securities Purchase Agreement to be duly executed as of the date first written
      above.

     

    

    
      	 	
              COMPANY:

            
	 	
              UNICORP,
                INC. 

            
	 	 
	 	
              By:/s/
                Carl A. Chase  

            
	 	
              Name: Carl
                A. Chase

            
	 	
              Title: Chief
                Financial Officer

            
	 	 

    

    

    

    

    

    

    
      
         

        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      each
      Buyer and the Company have caused their respective signature page to this
      Securities Purchase Agreement to be duly executed as of the date first written
      above.

     

    

    
      	 	
              BUYERS:

            
	 	
              CORNELL
                CAPITAL PARTNERS, L.P. 

            
	 	 
	 	
              By:
                 Yorkville
                Advisors, LLC 

            
	 	
              Its: Investment
                Manager

            
	 	 
	 	 
	 	
              By:  
                /s/
                Mark Angelo

            
	 	
              Name: Mark
                Angelo

            
	 	
              Its: Portfolio
                Manager

            

    

    

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    

    SCHEDULE
      I

     

    SCHEDULE
      OF BUYERS

     

    

    SCHEDULE
      I

     

    SCHEDULE
      OF BUYERS

     

    

    
      	
              (1)

            	
              (2)

            	
              (3)

            	
              (4)

            	
              (5)

            	
              (6)

            	
              (7)

            	
              (8)

            
	
               

               

               

              Buyer
                

            	
               

               

               

              Subscription
                Amount

            	
               

               

               

              Number
                of Warrant Shares

            	 	 	
              Legal
                Representative’s Address and Facsimile Number

            
	 	
              First
                Closing

            	
              Second
                Closing

            	
              Third
                Closing

            	
              First
                Closing

            	 	 	 
	 	 	 	 	 	 	 	 
	
              Cornell
                Capital Partners, L.P.

               

              101
                Hudson Street, Suite 3700

              Jersey
                City, NJ 07303

              Attention:
                Mark Angelo

              Telephone:
                (201) 985-8300

              Facsimile:
                (201) 985-8266

              Residence:
                Cayman Islands

            	
              $3,500,000

            	
              $2,000,000

            	
              $1,500,000

            	
              2,545,000@
                $0.55

              2,154,000@
                $0.65 

              1,867,000@
                $0.75

              1,555,500@
                $0.90

              (all
                warrants to have a term of five (5) years)

            	 	 	
              Troy
                Rillo or David Gonzalez, Esq.

              101
                Hudson Street, Suite 3700

              Jersey
                City, New Jersey 07302 

              Telephone:
                (201) 985-8300 

              Facsimile:
                (201) 985-8266

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

    

    

    

     

    

    

    

    

    

    

    
      
        
          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    DISCLOSURE
      SCHEDULE

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

     

     

    FORM
      OF CONVERTIBLE DEBENTURE

     

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

     

    FORM
      OF WARRANT

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    EXHIBIT
      C

     

     

    DESCRIPTION
      OF WELSH FIELDRegistration Rights Agreement

    
      EXHIBIT
        10.2

       

      REGISTRATION
        RIGHTS AGREEMENT

       

          THIS
        REGISTRATION
        RIGHTS AGREEMENT (this “Agreement”), dated as of May  17,
        2007, by and among UNICORP, INC., a Nevada
        corporation (the “Company”), and the undersigned Buyers listed on
        Schedule I attached hereto (each, a “Buyer” and collectively, the
“Buyers”).

          WHEREAS:

      A.       
In connection with the Securities Purchase
        Agreement by and among the parties
        hereto of even date herewith (the “Securities Purchase Agreement”), the
        Company has agreed, upon the terms and subject to the conditions of the
        Securities Purchase Agreement, to issue and sell to the Buyers (i) secured
        convertible debentures (the “Convertible Debentures”) which shall be
        convertible into shares of the Company’s common stock, par value $0.001 per
        share (the “Common Stock,” as converted, the “Conversion Shares”)
        in accordance with the terms of the Convertible Debentures, and (ii) warrants
        (the “Warrants”), which will be exercisable to purchase shares of Common
        Stock (as exercised, collectively, the “Warrant Shares”). 
Capitalized terms not defined herein shall have the meaning ascribed
        to them in
        the Securities Purchase Agreement.

      B.        
To induce the Buyers to execute and deliver
        the Securities Purchase Agreement,
        the Company has agreed to provide certain registration rights under the
        Securities Act of 1933, as amended, and the rules and regulations thereunder,
        or
        any similar successor statute (collectively, the “Securities Act”),
        and applicable state securities laws.

          NOW,
        THEREFORE, in consideration of the premises and the mutual covenants
        contained herein and other good and valuable consideration, the receipt and
        sufficiency of which are hereby acknowledged, the Company and the Buyers
        hereby
        agree as follows:

          1.                 
        DEFINITIONS.

      As used in this Agreement, the following
        terms
        shall have the following meanings:

      (a)               
“Effectiveness Deadline” means, with respect to the initial Registration
        Statement required to be filed hereunder, the 150th calendar day following
        the
        date hereof and, with respect to any additional Registration Statements which
        may be required pursuant to Section 3(c), the 120th calendar day following
        the
        date on which the Company first knows, or reasonably should have known, that
        such additional Registration Statement is required hereunder; provided, however,
        in the event the Company is notified by the U.S. Securities and Exchange
        Commission (“SEC”) that one of the above Registration Statements will not
        be reviewed or is no longer subject to further review and comments, the
        Effectiveness Date as to such Registration Statement shall be the fifth Trading
        Day following the date on which the Company is so notified if such date precedes
        the dates required above.

      (b)              
“Filing Deadline” means, with respect to the initial Registration
        Statement required hereunder, the 45th calendar day following the date hereof
        and, with respect to any additional Registration Statements which may be
        required pursuant to Section 3(c), the 30th day following the date on which
        the
        Company first knows, or reasonably should have known that such additional
        Registration Statement is required hereunder.

      
         

        
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      (c)               
“Person” means a corporation, a limited liability company, an
        association, a partnership, an organization, a business, an individual, a
        governmental or political subdivision thereof or a governmental agency.

      (d)              
“Prospectus” means the prospectus included in a Registration Statement
        (including, without limitation, a prospectus that includes any information
        previously omitted from a prospectus filed as part of an effective registration
        statement in reliance upon Rule 430A promulgated under the Securities Act),
        as
        amended or supplemented by any prospectus supplement, with respect to the
        terms
        of the offering of any portion of the Registrable Securities covered by a
        Registration Statement, and all other amendments and supplements to the
        Prospectus, including post‐effective amendments, and all material incorporated
        by reference or deemed to be incorporated by reference in such Prospectus.

      (e)               
“Registrable Securities” means all of (i) the Conversion Shares issuable
        upon conversion of the Convertible Debentures, (ii) the Warrant Shares issued
        or
        issuable upon exercise of the Warrants, (iii) any additional shares issuable
        in
        connection with any anti-dilution provisions in the Warrants or the Convertible
        Debentures (without giving effect to any limitations on exercise set forth
        in
        the Warrants or Convertible Debentures) and (iv) any shares of Common Stock
        issued or issuable with respect to the Conversion Shares, the Convertible
        Debentures, the Warrant Shares, or the Warrants as a result of any stock
        split,
        dividend or other distribution, recapitalization or similar event or otherwise,
        without regard to any limitations on the conversion of the Convertible
        Debentures or exercise of the Warrants.

      (f)                
“Registration Statement” means the registration statements required to be
        filed hereunder and any additional registration statements contemplated by
        Section 3(c), including (in each case) the Prospectus, amendments and
        supplements to such registration statement or Prospectus, including pre-
        and
        post-effective amendments, all exhibits thereto, and all material incorporated
        by reference or deemed to be incorporated by reference in such registration
        statement.

      (g)               
“Required Registration Amount” means a number of Registrable Securities
        number not to exceed 30% of the issued and outstanding shares of Common Stock
        (less any shares of Common Stock held by affiliates of the Company) on the
        Filing Deadline minus 10,000 shares of Common Stock.

      (h)               
 “Rule 415” means Rule 415 promulgated by the SEC 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 SEC  having substantially the
        same purpose and effect as such Rule.

      
        
          
          

        

        
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          2.                 
        REGISTRATION.

      (a)               
On or prior to each Filing Deadline, the Company shall prepare and file
        with the
        SEC a Registration Statement on Form S-1 or SB-2 (or, if the Company is then
        eligible, on Form S-3) covering the resale of all of the Registrable Securities.
         The Registration Statement prepared pursuant hereto shall register for
        resale at least the number of shares of Common Stock equal to the Required
        Registration Amount as of date the Registration Statement is initially filed
        with the SEC.  The Registration Statement shall contain the “Selling
        Stockholders” and “Plan of Distribution” sections in substantially
        the form attached hereto as Exhibit A and contain all the required
        disclosures set forth on Exhibit B.  The Company shall use its best
        efforts to have the Registration Statement declared effective by the SEC
        as soon
        as practicable, but in no event later than the Effectiveness Deadline.  By
        9:30 am on the date following the date of effectiveness, the Company shall
        file
        with the SEC in accordance with Rule 424 under the 1933 Act the final Prospectus
        to be used in connection with sales pursuant to such Registration Statement.
         The Company shall cause the Registration Statement to remain effective
        until all of the Registrable Securities have been sold or may be sold without
        volume restrictions pursuant to Rule 144(k), as determined by the counsel
        to the
        Company pursuant to a written opinion letter to such effect, addressed and
        acceptable to the Company’s transfer agent and the affected Holders
        (“Registration Period”).  Prior to the filing of the Registration
        Statement with the SEC, the Company shall furnish a draft of the Registration
        Statement to the Buyers for their review and comment.  The Buyers shall
        furnish comments on the Registration Statement to the Company within twenty-four
        (24) hours of the receipt thereof from the Company.

      (b)              
Failure to File or Obtain Effectiveness of the Registration
        Statement.     If: (i) a Registration Statement is not
        filed on or prior to its Filing Date (if the Company files a Registration
        Statement without affording the Holders the opportunity to review and comment
        on
        the same as required by Section 3(a), the Company shall not be deemed to
        have
        satisfied this clause (i)), or (ii) the Company fails to file with the SEC
        a
        request for acceleration in accordance with Rule 461 promulgated under the
        Securities Act, within five Trading Days of the date that the Company is
        notified (orally or in writing, whichever is earlier) by the SEC that a
        Registration Statement will not be “reviewed,” or not subject to further review,
        or (iii) a Registration Statement filed or required to be filed hereunder
        is not
        declared effective by the SEC by its Effectiveness Deadline, or (iv) after
        the
        effectiveness, a Registration Statement ceases for any reason to remain
        continuously effective as to all Registrable Securities for which it is required
        to be effective, or the Holders are otherwise not permitted to utilize the
        Prospectus therein to resell such Registrable Securities for more than 30
        consecutive calendar days or more than an aggregate of 40 calendar days during
        any 12-month period (which need not be consecutive calendar days) (any such
        failure or breach being referred to as an “Event”), then in addition to
        any other rights the holders of the Convertible Debentures may have hereunder
        or
        under applicable law, on each such Event date and on each monthly anniversary
        of
        each such Event date (if the applicable Event shall not have been cured by
        such
        date) until the applicable Event is cured, the Company shall pay to each
        holder
        of Convertible Debentures an amount in cash, as partial liquidated damages
        (“Liquidated Damages”) and not as a penalty, equal to One Percent (1.0%)
        of the aggregate purchase price paid by such holder pursuant to the Securities
        Purchase Agreement for any Convertible Debentures then held by such
        holder.  The parties agree that (1) the Company shall not be liable for
        Liquidated Damages under this Agreement with respect to any Warrants or Warrant
        Shares; (2) the maximum aggregate Liquidated Damages payable to a holder
        of
        Convertible Debentures under this Agreement shall be twelve (12%) of the
        aggregate Purchase Price paid by such holder pursuant to the Securities Purchase
        Agreement; and (3) the Company shall not be liable for Liquidated Damages
        under
        this Agreement resulting from the failure of the Buyer to provide material
        information constituting a material legal requirement of the Registration
        Statement or resulting from a finding by the SEC that the Buyer’s purchase of
        the Convertible Debentures or Warrants, as constituted in the Transaction
        Documents necessitates a renegotiation of material terms thereof after the
        filing of the Registration Statement.  The partial Liquidated Damages
        pursuant to the terms hereof shall apply on a daily pro-rata basis for any
        portion of a month prior to the cure of an Event.

      
        
          
          

        

        
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      (c)               
Liquidated Damages.  The Company and the Buyer hereto acknowledge
        and agree that the sums payable under subsection 2(b) above shall constitute
        liquidated damages and not penalties and are in addition to all other rights
        of
        the Buyer, including the right to call a default.  The parties further
        acknowledge that (i) the amount of loss or damages likely to be incurred
        is
        incapable or is difficult to precisely estimate, (ii) the amounts specified
        in
        such subsections bear a reasonable relationship to, and are not plainly or
        grossly disproportionate to, the probable loss likely to be incurred in
        connection with any failure by the Company to obtain or maintain the
        effectiveness of a Registration Statement, (iii) one of the reasons for the
        Company and the Buyer reaching an agreement as to such amounts was the
        uncertainty and cost of litigation regarding the question of actual damages,
        and
        (iv) the Company and the Buyer are sophisticated business parties and have
        been
        represented by sophisticated and able legal counsel and negotiated this
        Agreement at arm’s length. 

          3.                 
        RELATED OBLIGATIONS.

      (a)               
The Company shall, not less than three (3) Trading Days prior to the
        filing of
        each Registration Statement and not less than one (1) Trading Day prior to
        the
        filing of any related amendments and supplements to all Registration Statements
        (except for annual reports on Form 10-K or Form 10-KSB), furnish to each
        Buyer
        copies of all such documents proposed to be filed, which documents (other
        than
        those incorporated or deemed to be incorporated by reference) will be subject
        to
        the reasonable and prompt review of such Buyers, The Company shall not file
        a
        Registration Statement or any such Prospectus or any amendments or supplements
        thereto to which the Buyers shall reasonably object in good faith;
provided that, the Company is notified of such objection in writing no
        later than two (2) Trading Days after the Buyers have been so furnished copies
        of a Registration Statement.

      (b)              
The Company shall (i) prepare and file with the SEC such
        amendments (including post-effective amendments) and supplements to a
        Registration Statement and the Prospectus used in connection with such
        Registration Statement, which prospectus is to be filed pursuant to Rule
        424
        promulgated under the Securities Act, as may be necessary to keep such
        Registration Statement effective at all times during the Registration Period,
        and prepare and file with the SEC such additional Registration Statements
        in
        order to register for resale under the Securities Act all of the Registrable
        Securities; (ii) cause the related Prospectus to be amended or supplemented
        by
        any required Prospectus supplement (subject to the terms of this Agreement),
        and
        as so supplemented or amended to be filed pursuant to Rule 424; (iii) respond
        as
        promptly as reasonably possible to any comments received from the SEC with
        respect to a Registration Statement or any amendment thereto and as promptly
        as
        reasonably possible provide the Buyers true and complete copies of all
        correspondence from and to the SEC relating to a Registration Statement
        (provided that the Company may excise any information contained therein which
        would constitute material non-public information as to any Buyer which has
        not
        executed a confidentiality agreement with the Company); and (iv) comply with
        the
        provisions of the Securities Act with respect to the disposition of all
        Registrable Securities of the Company covered by such Registration Statement
        until such time as all of such Registrable Securities shall have been disposed
        of in accordance with the intended methods of disposition by the seller or
        sellers thereof as set forth in such Registration Statement.  In the case
        of amendments and supplements to a Registration Statement which are required
        to
        be filed pursuant to this Agreement (including pursuant to this Section 3(b))
        by
        reason of the Company’s filing a report on Form 10-KSB, Form 10-QSB or Form 8-K
        or any analogous report under the Securities Exchange Act of 1934, as amended
        (the “Exchange Act”), the Company shall incorporate such report by
        reference into the Registration Statement, if applicable, or shall file such
        amendments or supplements with the SEC on the same day on which the Exchange
        Act
        report is filed which created the requirement for the Company to amend or
        supplement the Registration Statement. 

      
        
          
          

        

        
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      (c)               
If during the Registration Period, the number of Registrable Securities
        at any
        time exceeds the number of shares of Common Stock then registered in a
        Registration Statement, then the Company shall file as soon as reasonably
        practicable but in any case prior to the applicable Filing Deadline, an
        additional Registration Statement covering the resale by the Buyers of not
        less
        than 300% of the number of such Registrable Securities.

      (d)              
The Company shall furnish to each Buyer whose Registrable Securities
        are
        included in any Registration Statement, without charge, (i) at least one
        (1)
        copy of such Registration Statement as declared effective by the SEC and
        any
        amendment(s) thereto, including financial statements and schedules, all
        documents incorporated therein by reference, all exhibits and each preliminary
        prospectus, (ii) ten (10) copies of the final prospectus included in such
        Registration Statement and all amendments and supplements thereto (or such
        other
        number of copies as such Buyer may reasonably request) and (iii) such other
        documents as such Buyer may reasonably request from time to time in order
        to
        facilitate the disposition of the Registrable Securities owned by such
        Buyer.

      (e)               
The Company shall use its best efforts to (i) register and qualify the
        Registrable Securities covered by a Registration Statement under such other
        securities or “blue sky” laws of such jurisdictions in the United States as any
        Buyer reasonably requests, (ii) prepare and file in those jurisdictions,
        such amendments (including post-effective amendments) and supplements to
        such
        registrations and qualifications as may be necessary to maintain the
        effectiveness thereof during the Registration Period, (iii) take such other
        actions as may be necessary to maintain such registrations and qualifications
        in
        effect at all times during the Registration Period, and (iv) take all other
        actions reasonably necessary or advisable to qualify the Registrable Securities
        for sale in such jurisdictions; provided, however, that the Company shall
        not be
        required in connection therewith or as a condition thereto to (w) make any
        change to its articles of incorporation or by-laws, (x) qualify to do business
        in any jurisdiction where it would not otherwise be required to qualify but
        for
        this Section 3(d), (y) subject itself to general taxation in any such
        jurisdiction, or (z) file a general consent to service of process in any
        such
        jurisdiction.  The Company shall promptly notify each Buyer who holds
        Registrable Securities of the receipt by the Company of any notification
        with
        respect to the suspension of the registration or qualification of any of
        the
        Registrable Securities for sale under the securities or “blue sky” laws of any
        jurisdiction in the United States or its receipt of actual notice of the
        initiation or threat of any proceeding for such purpose.

      
        
          
          

        

        
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      (f)                
As promptly as practicable after becoming aware of such event or development,
        the Company shall notify each Buyer in writing of the happening of any event
        as
        a result of which the Prospectus included in a Registration Statement, as
        then
        in effect, includes an untrue statement of a material fact or omission to
        state
        a material fact required to be stated therein or necessary to make the
        statements therein, in light of the circumstances under which they were made,
        not misleading (provided that in no event shall such notice contain any
        material, nonpublic information), and promptly prepare a supplement or amendment
        to such Registration Statement to correct such untrue statement or omission,
        and
        deliver ten (10) copies of such supplement or amendment to each Buyer.  The
        Company shall also promptly notify each Buyer in writing (i) when a Prospectus
        or any Prospectus supplement or post-effective amendment has been filed,
        and
        when a Registration Statement or any post-effective amendment has become
        effective (notification of such effectiveness shall be delivered to each
        Buyer
        by facsimile on the same day of such effectiveness), (ii) of any request
        by the
        SEC for amendments or supplements to a Registration Statement or related
        prospectus or related information, and (iii) of the Company’s reasonable
        determination that a post-effective amendment to a Registration Statement
        would
        be appropriate.

      (g)               
The Company shall use its best efforts to prevent the issuance of any
        stop order
        or other suspension of effectiveness of a Registration Statement, or the
        suspension of the qualification of any of the Registrable Securities for
        sale in
        any jurisdiction within the United States of America and, if such an order
        or
        suspension is issued, to obtain the withdrawal of such order or suspension
        at
        the earliest possible moment and to notify each Buyer who holds Registrable
        Securities being sold of the issuance of such order and the resolution thereof
        or its receipt of actual notice of the initiation or threat of any proceeding
        for such purpose.

      (h)               
If, after the execution of this Agreement, a Buyer believes, after consultation
        with its legal counsel, that it could reasonably be deemed to be an underwriter
        of Registrable Securities, at the request of any Buyer, the Company shall
        furnish to such Buyer, on the date of the effectiveness of the Registration
        Statement and thereafter from time to time on such dates as a Buyer may
        reasonably request (i) a letter, dated such date, from the Company’s independent
        certified public accountants in form and substance as is customarily given
        by
        independent certified public accountants to underwriters in an underwritten
        public offering, and (ii) an opinion, dated as of such date, of counsel
        representing the Company for purposes of such Registration Statement, in
        form,
        scope and substance as is customarily given in an underwritten public offering,
        addressed to the Buyers.

      (i)                 
If, after the execution of this Agreement, a Buyer believes, after consultation
        with its legal counsel, that it could reasonably be deemed to be an underwriter
        of Registrable Securities, at the request of any Buyer, the Company shall
        make
        available for inspection by (i) any Buyer and (ii) one (1) firm of
        accountants or other agents retained by the Buyers (collectively, the
“Inspectors”) all pertinent financial and other records, and pertinent
        corporate documents and properties of the Company (collectively, the
“Records”), as shall be reasonably deemed necessary by each Inspector,
        and cause the Company’s officers, directors and employees to supply all
        information which any Inspector may reasonably request; provided, however,
        that
        each Inspector shall agree, and each Buyer hereby agrees, to hold in strict
        confidence and shall not make any disclosure (except to a Buyer) or use 
any Record or other information which the Company determines in good faith
        to be
        confidential, and of which determination the Inspectors are so notified,
        unless
        (a) the disclosure of such Records is necessary to avoid or correct a
        misstatement or omission in any Registration Statement or is otherwise required
        under the Securities Act, (b) the release of such Records is ordered pursuant
        to
        a final, non-appealable subpoena or order from a court or government body
        of
        competent jurisdiction, or (c) the information in such Records has been made
        generally available to the public other than by disclosure in violation of
        this
        or any other agreement of which the Inspector and the Buyer has knowledge. 
Each Buyer agrees that it shall, upon learning that disclosure of such Records
        is sought in or by a court or governmental body of competent jurisdiction
        or
        through other means, give prompt notice to the Company and allow the Company,
        at
        its expense, to undertake appropriate action to prevent disclosure of, or
        to
        obtain a protective order for, the Records deemed confidential.

      
        
          
          

        

        
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      (j)                
The Company shall hold in confidence and not make any disclosure of information
        concerning a Buyer provided to the Company unless (i) disclosure of such
        information is necessary to comply with federal or state securities laws,
        (ii)
        the disclosure of such information is necessary to avoid or correct a
        misstatement or omission in any Registration Statement, (iii) the release
        of
        such information is ordered pursuant to a subpoena or other final,
        non-appealable order from a court or governmental body of competent
        jurisdiction, or (iv) such information has been made generally available
        to the
        public other than by disclosure in violation of this Agreement or any other
        agreement.  The Company agrees that it shall, upon learning that disclosure
        of such information concerning a Buyer is sought in or by a court or
        governmental body of competent jurisdiction or through other means, give
        prompt
        written notice to such Buyer and allow such Buyer, at the Buyer’s expense, to
        undertake appropriate action to prevent disclosure of, or to obtain a protective
        order for, such information.

      (k)              
The Company shall use its best efforts either to cause all the Registrable
        Securities covered by a Registration Statement (i) to be listed on each
        securities exchange on which securities of the same class or series issued
        by
        the Company are then listed, if any, if the listing of such Registrable
        Securities is then permitted under the rules of such exchange or (ii) the
        inclusion for quotation on the National Association of Securities Dealers,
        Inc.
        OTC Bulletin Board for such Registrable Securities.  The Company shall pay
        all fees and expenses in connection with satisfying its obligation under
        this
        Section 3(j).

      (l)                 
The Company shall cooperate with each Buyer who holds Registrable Securities
        being offered and, to the extent applicable, to facilitate the timely
        preparation and delivery of certificates (not bearing any restrictive legend)
        representing the Registrable Securities to be offered pursuant to a Registration
        Statement and enable such certificates to be in such denominations or amounts,
        as the case may be, as the Buyers may reasonably request and registered in
        such
        names as the Buyers may request.

      (m)             
The Company shall use its best efforts to cause the Registrable Securities
        covered by the applicable Registration Statement to be registered with or
        approved by such other governmental agencies or authorities as may be necessary
        to consummate the disposition of such Registrable Securities.

      (n)               
The Company shall make generally available to its security holders as
        soon as
        practical, but not later than one hundred five (105) days after the close
        of the
        period covered thereby, an earnings statement (in form complying with the
        provisions of Rule 158 under the Securities Act) covering a twelve (12) month
        period beginning not later than the first day of the Company’s fiscal quarter
        next following the effective date of the Registration Statement.

      (o)              
The Company shall otherwise use its best efforts to comply with all applicable
        rules and regulations of the SEC in connection with any registration
        hereunder.

      
        
          
          

        

        
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      (p)              
Within two (2) business days after a Registration Statement which covers
        Registrable Securities is declared effective by the SEC, the Company shall
        deliver, and shall cause legal counsel for the Company to deliver, to the
        transfer agent for such Registrable Securities (with copies to the Buyer
        whose
        Registrable Securities are included in such Registration Statement) confirmation
        that such Registration Statement has been declared effective by the SEC in
        the
        form attached hereto as Exhibit C.

      (q)              
The Company shall take all other reasonable actions necessary to expedite
        and
        facilitate disposition by each Buyer of Registrable Securities pursuant to
        a
        Registration Statement.

          4.                 
        OBLIGATIONS OF THE BUYERS.

      (a)               
Each Buyer agrees that, upon receipt of any notice from the Company of
        the
        happening of any event of the kind described in Section 3(f) or the first
        sentence of Section 3(e), such Buyer will immediately discontinue disposition
        of
        Registrable Securities pursuant to any Registration Statement covering such
        Registrable Securities until such Buyer’s receipt of the copies of the
        supplemented or amended prospectus contemplated by Section 3(f) or the first
        sentence of Section 3(e) or receipt of notice that no supplement or amendment
        is
        required.  Notwithstanding anything to the contrary, the Company shall
        cause its transfer agent to deliver unlegended certificates for shares of
        Common
        Stock to a transferee of a Buyer in accordance with the terms of the Securities
        Purchase Agreement in connection with any sale of Registrable Securities
        with
        respect to which a Buyer has entered into a contract for sale prior to the
        Buyer’s receipt of a notice from the Company of the happening of any event of
        the kind described in Section 3(f) or the first sentence of 3(e) and for
        which
        the Buyer has not yet settled.

      (b)              
Each Buyer covenants and agrees that it will comply with the
        prospectus
        delivery requirements of the Securities Act as applicable to it or an exemption
        therefrom in connection with sales of Registrable Securities
        pursuant to the Registration Statement.

          5.                 
        EXPENSES OF REGISTRATION.

      All expenses incurred in connection with
        registrations, filings or qualifications pursuant to Sections 2 and 3,
        including, without limitation, all registration, listing and qualifications
        fees, printers, legal and accounting fees shall be paid by the Company.

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

          6.                 
        INDEMNIFICATION.

      With respect to Registrable Securities which
        are included in a Registration Statement under this Agreement:

      (a)               
To the fullest extent permitted by law, the Company will, and hereby
        does,
        indemnify, hold harmless and defend each Buyer, the directors, officers,
        partners, employees, agents, representatives of, and each Person, if any,
        who
        controls any Buyer within the meaning of the Securities Act or the Exchange
        Act
        (each, an “Indemnified Person”), against any losses, claims, damages,
        liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys’
fees, amounts paid in settlement or expenses, joint or several (collectively,
        “Claims”) incurred in investigating, preparing or defending any action,
        claim, suit, inquiry, proceeding, investigation or appeal taken from the
        foregoing by or before any court or governmental, administrative or other
        regulatory agency, body or the SEC, whether pending or threatened, whether
        or
        not an indemnified party is or may be a party thereto (“Indemnified
        Damages”), to which any of them may become subject insofar as such Claims
        (or actions or proceedings, whether commenced or threatened, in respect thereof)
        arise out of or are based upon: (i) any untrue statement or alleged untrue
        statement of a material fact in a Registration Statement or any post-effective
        amendment thereto or in any filing made in connection with the qualification
        of
        the offering under the securities or other “blue sky” laws of any jurisdiction
        in which Registrable Securities are offered (“Blue Sky Filing”), or
        the omission or alleged omission to state a material fact required to be
        stated
        therein or necessary to make the statements therein not misleading; (ii)
        any
        untrue statement or alleged untrue statement of a material fact contained
        in any
        final prospectus (as amended or supplemented, if the Company files any amendment
        thereof or supplement thereto with the SEC) or the omission or alleged omission
        to state therein any material fact necessary to make the statements made
        therein, in light of the circumstances under which the statements therein
        were
        made, not misleading; or (iii) any violation or alleged violation by the
        Company
        of the Securities Act, the Exchange Act, any other law, including, without
        limitation, any state securities law, or any rule or regulation there under
        relating to the offer or sale of the Registrable Securities pursuant to a
        Registration Statement (the matters in the foregoing clauses (i) through
        (iii)
        being, collectively, “Violations”).  The Company shall reimburse the
        Buyers and each such controlling person promptly as such expenses are incurred
        and are due and payable, for any legal fees or disbursements or other reasonable
        expenses incurred by them in connection with investigating or defending any
        such
        Claim.  Notwithstanding anything to the contrary contained herein, the
        indemnification agreement contained in this Section 6(a): (w) shall not apply
        to
        any Claim arising out of the gross negligence or willful misconduct of the
        Indemnified Persons, (x) shall not apply to a Claim by an Indemnified Person
        arising out of or based upon a Violation which occurs in reliance upon and
        in
        conformity with information furnished in writing to the Company by such
        Indemnified Person expressly for use in connection with the preparation of
        the
        Registration Statement or any such amendment thereof or supplement thereto;
        (y)
        shall not be available to the extent such Claim is based on a failure of
        the
        Buyer to deliver or to cause to be delivered the prospectus made available
        by
        the Company, if such prospectus was timely made available by the Company
        pursuant to Section 3(c); and (z) shall not apply to amounts paid in
        settlement of any Claim if such settlement is effected without the prior
        written
        consent of the Company, which consent shall not be unreasonably withheld.
        Such
        indemnity shall remain in full force and effect regardless of any investigation
        made by or on behalf of the Indemnified Person and shall survive the transfer
        of
        the Registrable Securities by the Buyers pursuant to Section 9 hereof.

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      (b)              
In connection with a Registration Statement, each Buyer agrees to severally
        and
        not jointly indemnify, hold harmless and defend, to the same extent and in
        the
        same manner as is set forth in Section 6(a), the Company, each of its directors,
        each of its officers, employees, representatives, or agents and each Person,
        if
        any, who controls the Company within the meaning of the Securities Act or
        the
        Exchange Act (each an “Indemnified Party”), against any Claim or
        Indemnified Damages to which any of them may become subject, under the
        Securities Act, the Exchange Act or otherwise, insofar as such Claim or
        Indemnified Damages arise out of or is based upon any Violation, in each
        case to
        the extent, and only to the extent, that such Violation occurs in reliance
        upon
        and in conformity with written information furnished to the Company by such
        Buyer expressly for use in connection with such Registration Statement or
        is
        based on a failure by the Buyer to deliver or cause to be delivered the
        prospectus; and, subject to Section 6(d), such Buyer will reimburse any legal
        or
        other expenses reasonably incurred by them in connection with investigating
        or
        defending any such Claim; provided, however, that the indemnity agreement
        contained in this Section 6(b) and the agreement with respect to contribution
        contained in Section 7 shall not apply to amounts paid in settlement of any
        Claim if such settlement is effected without the prior written consent of
        such
        Buyer, which consent shall not be unreasonably withheld; provided, further,
        however, that the Buyer shall be liable under this Section 6(b) for only
        that
        amount of a Claim or Indemnified Damages as does not exceed the net proceeds
        to
        such Buyer as a result of the sale of Registrable Securities pursuant to
        such
        Registration Statement.  Such indemnity shall remain in full force and
        effect regardless of any investigation made by or on behalf of such Indemnified
        Party and shall survive the transfer of the Registrable Securities by the
        Buyers
        pursuant to Section 9.  Notwithstanding anything to the contrary contained
        herein, the indemnification agreement contained in this Section 6(b) with
        respect to any prospectus shall not inure to the benefit of any Indemnified
        Party if the untrue statement or omission of material fact contained in the
        prospectus was corrected and such new prospectus was delivered to each Buyer
        prior to such Buyer’s use of the prospectus to which the Claim relates.

      (c)               
Promptly after receipt by an Indemnified Person or Indemnified Party
        under this
        Section 6 of notice of the commencement of any action or proceeding (including
        any governmental action or proceeding) involving a Claim, such Indemnified
        Person or Indemnified Party shall, if a Claim in respect thereof is to be
        made
        against any indemnifying party under this Section 6, deliver to the indemnifying
        party a written notice of the commencement thereof, and the indemnifying
        party
        shall have the right to participate in, and, to the extent the indemnifying
        party so desires, jointly with any other indemnifying party similarly noticed,
        to assume control of the defense thereof with counsel mutually satisfactory
        to
        the indemnifying party and the Indemnified Person or the Indemnified Party,
        as
        the case may be; provided, however, that an Indemnified Person or Indemnified
        Party shall have the right to retain its own counsel with the fees and expenses
        of not more than one (1) counsel for such Indemnified Person or Indemnified
        Party to be paid by the indemnifying party, if, in the reasonable opinion
        of
        counsel retained by the indemnifying party, the representation by such counsel
        of the Indemnified Person or Indemnified Party and the indemnifying party
        would
        be inappropriate due to actual or potential differing  interests between
        such Indemnified Person or Indemnified Party and any other party represented
        by
        such counsel in such proceeding.  The Indemnified Party or Indemnified
        Person shall cooperate fully with the indemnifying party in connection with
        any
        negotiation or defense of any such action or claim by the indemnifying party
        and
        shall furnish to the indemnifying party all information reasonably available
        to
        the Indemnified Party or Indemnified Person which relates to such action
        or
        claim.  The indemnifying party shall keep the Indemnified Party or
        Indemnified Person fully apprised at all times as to the status of the defense
        or any settlement negotiations with respect thereto.  No indemnifying party
        shall be liable for any settlement of any action, claim or proceeding effected
        without its prior written consent; provided, however, that the indemnifying
        party shall not unreasonably withhold, delay or condition its consent.  No
        indemnifying party shall, without the prior written consent of the Indemnified
        Party or Indemnified Person, consent to entry of any judgment or enter into
        any
        settlement or other compromise which does not include as an unconditional
        term
        thereof the giving by the claimant or plaintiff to such Indemnified Party
        or
        Indemnified Person of a release from all liability in respect to such claim
        or
        litigation.  Following indemnification as provided for hereunder, the
        indemnifying party shall be subrogated to all rights of the Indemnified Party
        or
        Indemnified Person with respect to all third parties, firms or corporations
        relating to the matter for which indemnification has been made.  The
        failure to deliver written notice to the indemnifying party within a reasonable
        time of the commencement of any such action shall not relieve such indemnifying
        party of any liability to the Indemnified Person or Indemnified Party under
        this
        Section 6, except to the extent that the indemnifying party is prejudiced
        in its
        ability to defend such action.

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      (d)              
The indemnification required by this Section 6 shall be made by periodic
        payments of the amount thereof during the course of the investigation or
        defense, as and when bills are received or Indemnified Damages are
        incurred.

      (e)               
The indemnity agreements contained herein shall be in addition to (i) any
        cause of action or similar right of the Indemnified Party or Indemnified
        Person
        against the indemnifying party or others, and (ii) any liabilities the
        indemnifying party may be subject to pursuant to the law.

          7.                 
        CONTRIBUTION.

      To the extent any indemnification by an
        indemnifying party is prohibited or limited by law, the indemnifying party
        agrees to make the maximum contribution with respect to any amounts for which
        it
        would otherwise be liable under Section 6 to the fullest extent permitted
        by
        law; provided, however, that:  (i) no seller of Registrable Securities
        guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
        of
        the Securities Act) shall be entitled to contribution from any seller of
        Registrable Securities who was not guilty of fraudulent misrepresentation;
        and
        (ii) contribution by any seller of Registrable Securities shall be limited
        in
        amount to the net amount of proceeds received by such seller from the sale
        of
        such Registrable Securities.

          8.                 
        REPORTS UNDER THE EXCHANGE ACT.

      With a view to making available to the Buyers
        the benefits of Rule 144 promulgated under the Securities Act or any similar
        rule or regulation of the SEC that may at any time permit the Buyers to sell
        securities of the Company to the public without registration (“Rule 144”)
        the Company agrees to:

      (a)               
make and keep public information available, as those terms are understood
        and
        defined in Rule 144;

      (b)              
file with the SEC in a timely manner all reports and other documents
        required of
        the Company under the Securities Act and the Exchange Act so long as the
        Company
        remains subject to such requirements (it being understood that nothing herein
        shall limit the Company’s obligations under Section 4(c) of the Securities
        Purchase Agreement) and the filing of such reports and other documents as
        are  required by the applicable provisions of Rule 144; and

      (c)               
furnish to each Buyer so long as such Buyer owns Registrable Securities,
        promptly upon request, (i) a written statement by the Company that it has
        complied with the reporting requirements of Rule 144, the Securities Act
        and the
        Exchange Act, (ii) a copy of the most recent annual or quarterly report of
        the
        Company and such other reports and documents so filed by the Company, and
        (iii)
        such other information as may be reasonably requested to permit the Buyers
        to
        sell such securities pursuant to Rule 144 without registration.

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

          

          9.                 
        AMENDMENT OF REGISTRATION RIGHTS.

      Provisions of this Agreement may be amended
        and the observance thereof may be waived (either generally or in a particular
        instance and either retroactively or prospectively), only with the written
        consent of the Company and Buyers who then hold at least two-thirds (2/3)
        of the
        Registrable Securities.  Any amendment or waiver effected in accordance
        with this Section 9 shall be binding upon each Buyer and the Company. 
No such amendment shall be effective to the extent that it applies to fewer
        than
        all of the holders of the Registrable Securities.  No consideration shall
        be offered or paid to any Person to amend or consent to a waiver or modification
        of any provision of any of this Agreement unless the same consideration also
        is
        offered to all of the parties to this Agreement.

          10.             
        MISCELLANEOUS.

      (a)               
A Person is deemed to be a holder of Registrable Securities whenever
        such Person
        owns or is deemed to own of record such Registrable Securities or owns the
        right
        to receive the Registrable Securities.  If the Company receives conflicting
        instructions, notices or elections from two (2) or more Persons with respect
        to
        the same Registrable Securities, the Company shall act upon the basis of
        instructions, notice or election received from the registered owner of such
        Registrable Securities.

      (b)              
No Piggyback on Registrations.  Except as set forth on Schedule
        10(b) attached hereto, neither the Company nor any of its security holders
        (other than the Buyers in such capacity pursuant hereto) may include securities
        of the Company in the initial Registration Statement other than the Registrable
        Securities.  The Company shall not file any other registration statements
        until the initial Registration Statement required hereunder is declared
        effective by the SEC, provided that this Section 10(b) shall not prohibit
        the
        Company from filing amendments to registration statements already filed.

      (c)               
Piggy-Back Registrations.  If at any time during the Registration
        Period there is not an effective Registration Statement covering all of the
        Registrable Securities and the Company shall determine to prepare and file
        with
        the SEC a registration statement relating to an offering for its own account
        or
        the account of others under the Securities Act of any of its equity securities,
        other than on Form S-4 or Form S-8 (each as promulgated under the Securities
        Act) or their then equivalents relating to equity securities to be issued
        solely
        in connection with any acquisition of any entity or business or equity
        securities issuable in connection with the stock option or other employee
        benefit plans, then the Company shall send to each Buyer a written notice
        of
        such determination and, if within fifteen (15) days after the date of such
        notice, any such Buyer shall so request in writing, the Company shall include
        in
        such registration statement all or any part of such Registrable Securities
        such
        Buyer requests to be registered; provided, however, that, the
        Company shall not be required to register any Registrable Securities pursuant
        to
        this Section 10(c) that are eligible for resale pursuant to Rule 144(k)
        promulgated under the Securities Act or that are the subject of a then effective
        Registration Statement.

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      (d)              
Any notices, consents, waivers or other communications required or permitted
        to
        be given under the terms of this Agreement must be in writing and will be
        deemed
        to have been delivered:  (i) upon receipt, when delivered personally; (ii)
        upon receipt, when sent by facsimile (provided confirmation of transmission
        is
        mechanically or electronically generated and kept on file by the sending
        party);
        or (iii) one (1) business day after deposit with a nationally recognized
        overnight delivery service, in each case properly addressed to the party
        to
        receive the same.  The addresses and facsimile numbers for such
        communications shall be:

      	
              If
                to the Company, to:

            	
              Unicorp, Inc.

            
	
               

            	
              5075 Westheimer Road, Suite
                975

            
	
               

            	
              Houston, TX 77056

            
	
               

            	
              Attention:
                         Kevan Casey

            
	
               

            	
              Telephone:       
                (713) 402-6717

            
	
               

            	
              Facsimile:        
                (713) 402-6799

            
	
               

            	
               

            
	
              With Copy to:

            	
              Sichenzia
                Ross Friedman Ference LLP

            
	
               

            	
              61
                Broadway, 32nd Floor

            
	
               

            	
              New
                York, New York 10006

            
	
               

            	
              Attention: 
                Marc Ross, Esq.

            
	
               

            	
              Telephone: 
                (212) 930-9700

            
	
               

            	
              Facsimile: 
                (212) 930-9725

            
	
               

            	
               

            

      If to an Buyer, to its address and facsimile
        number on the Schedule of Buyers attached hereto, with copies to such Buyer’s
        representatives as set forth on the Schedule of Buyers or to such other address
        and/or facsimile number and/or to the attention of such other person as the
        recipient party has specified by written notice given to each other party
        five
        (5) days prior to the effectiveness of such change.  Written confirmation
        of receipt (A) given by the recipient of such notice, consent, waiver or
        other
        communication, (B) mechanically or electronically generated by the sender’s
        facsimile machine containing the time, date, recipient facsimile number and
        an
        image of the first page of such transmission or (C) provided by a courier
        or
        overnight courier service shall be rebuttable evidence of personal service,
        receipt by facsimile or receipt from a nationally recognized overnight delivery
        service in accordance with clause (i), (ii) or (iii) above, respectively.

      (e)               
Failure of any party to exercise any right or remedy under this Agreement
        or
        otherwise, or delay by a party in exercising such right or remedy, shall
        not
        operate as a waiver thereof.

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      (f)                
The laws of the State of New Jersey shall govern all issues concerning
        the
        relative rights of the Company and the Buyers as its stockholders.  All
        other questions concerning the construction, validity, enforcement and
        interpretation of this Agreement shall be governed by the internal laws of
        the
        State of New Jersey, without giving effect to any choice of law or conflict
        of
        law provision or rule (whether of the State of New Jersey or any other
        jurisdiction) that would cause the application of the laws of any jurisdiction
        other than the State of New Jersey.  Each party hereby irrevocably submits
        to the non-exclusive jurisdiction of the Superior Courts of the State of
        New
        Jersey, sitting in Hudson County, New Jersey and federal courts for the District
        of New Jersey sitting Newark, New Jersey, 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 suit, action or proceeding, any claim that it is not personally subject
        to
        the jurisdiction of any such court, that such suit, action or proceeding
        is
        brought in an inconvenient forum or that the venue of such suit, action or
        proceeding is improper.  Each party hereby irrevocably waives personal
        service of process and consents to process being served in any such suit,
        action
        or proceeding by mailing a copy thereof to such party at the address for
        such
        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.  If any provision of this Agreement shall
        be invalid or unenforceable in any jurisdiction, such invalidity or
        unenforceability shall not affect the validity or enforceability of the
        remainder of this Agreement in that jurisdiction or the validity or
        enforceability of any provision of this Agreement in any other
        jurisdiction.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE,
        AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
        HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY
        TRANSACTION CONTEMPLATED HEREBY.

      (g)               
This Agreement shall inure to the benefit of and be binding upon the
        permitted
        successors and assigns of each of the parties hereto.

      (h)               
The headings in this Agreement are for convenience of reference only
        and shall
        not limit or otherwise affect the meaning hereof.

      (i)                 
This Agreement may be executed in identical counterparts, each of which
        shall be
        deemed an original but all of which shall constitute one and the same
        agreement.  This Agreement, once executed by a party, may be delivered to
        the other party hereto by facsimile transmission of a copy of this Agreement
        bearing the signature of the party so delivering this Agreement.

      (j)                
Each party shall do and perform, or cause to be done and performed, all
        such
        further acts and things, and shall execute and deliver all such other
        agreements, certificates, instruments and documents, as the other party may
        reasonably request in order to carry out the intent and accomplish the purposes
        of this Agreement and the consummation of the transactions contemplated
        hereby.

      (k)              
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.

      (l)                 
This Agreement is intended for the benefit of the parties hereto and
        their
        respective permitted successors and assigns, and is not for the benefit of,
        nor
        may any provision hereof be enforced by, any other Person.

       

      [REMAINDER
        OF
        PAGE INTENTIONALLY LEFT BLANK]

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

       

      IN WITNESS WHEREOF, each Buyer and the Company
        have caused their signature page to this Registration Rights Agreement to
        be
        duly executed as of the date first above written.

      	
               

            	
              COMPANY:

            
	
               

            	
              UNICORP, INC. 

            
	
               

            	
               

            
	
               

            	
              By:   /s/  Carl A.
                Chase                         
                

            
	
               

            	
              Name:  Carl A. Chase

            
	
               

            	
              Title:     Chief
                Financial Officer

            
	
               

            	
               

            

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      IN WITNESS WHEREOF, each Buyer and the Company
        have caused their signature page to this Registration Rights Agreement to
        be
        duly executed as of the date first above written.

      	
               

            	
              BUYER:

            
	
               

            	
              CORNELL CAPITAL PARTNERS,
                L.P.

            
	
               

            	
               

            
	
               

            	
              By:      
                Yorkville Advisors, LLC

            
	
               

            	
              Its:       
                Investment Manager

            
	
               

            	
               

            
	
               

            	
               

            
	
               

            	
              By:   /s/  Mark
                Angelo                             
                

            
	
               

            	
              Name:  Mark Angelo

            
	
               

            	
              Title:     Portfolio
                Manager

            

       

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

       

    

    
       

      SCHEDULE I

      SCHEDULE OF BUYERS

       

      	
              
                Buyer

              

            	
              
                Address/Facsimile

Number
                  of Buyer

                 

              

            	
              
                Address/Facsimile

Number
                  of Buyer’s
                  Representative

              

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Cornell Capital Partners, L.P.

            	
              101 Hudson Street – Suite 3700

            	
              101 Hudson Street – Suite
                3700

            
	
               

            	
              Jersey City, NJ  07303

            	
              Jersey City, NJ  07303

            
	
               

            	
              Facsimile:              
                (201) 985-8266

            	
              Facsimile:              
                (201) 985-8266

            
	
               

            	
               

            	
              Attention:  Troy Rillo, Esq. or
                David Gonzalez, Esq.

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

    

    
      EXHIBIT
        A

                                                                  SELLING
        STOCKHOLDERS

                                                                  AND
        PLAN OF
        DISTRIBUTION

       

      Selling
        Stockholders

       

      The
        shares of Common Stock being offered by the selling stockholders are issuable
        upon conversion of the convertible debentures and upon exercise of the
        warrants.  For additional information regarding the issuance of those
        convertible notes and warrants, see “Private Placement of Convertible Debentures
        and Warrants” above.  We are registering the shares of Common Stock in
        order to permit the selling stockholders to offer the shares for resale from
        time to time.  Except as otherwise notes and except for the ownership of
        the convertible Debentures and the warrants issued pursuant to the Securities
        Purchase Agreement, the selling stockholders have not had any material
        relationship with us within the past three years.

      The
        table below lists the selling stockholders and other information regarding
        the
        beneficial ownership of the shares of Common Stock by each of the selling
        stockholders.  The second column lists the number of shares of Common Stock
        beneficially owned by each selling stockholder, based on its ownership of
        the
        convertible debentures and warrants, as of ________, 200_, assuming conversion
        of all convertible debentures and exercise of the warrants held by the selling
        stockholders on that date, without regard to any limitations on conversions
        or
        exercise.

      The
        third column lists the shares of Common Stock being offered by this prospectus
        by the selling stockholders.

      In
        accordance with the terms of a registration rights agreement with the selling
        stockholders, this prospectus generally covers the resale of at least (i)
        300%
        of the number of Conversion Shares issued and issuable pursuant to the
        convertible debentures as of the trading day immediately preceding the date
        the
        registration statement is initially filed with the SEC, and (ii) 100% of
        the
        number of warrant shares issued and issuable pursuant to the warrants as
        of the
        trading day immediately preceding the date the registration statement is
        initially filed with the SEC.  Because the conversion price of the
        convertible debentures and the exercise price of the warrants may be adjusted,
        the number of shares that will actually be issued may be more or less than
        the
        number of shares being offered by this prospectus.  The fourth column
        assumes the sale of all of the shares offered by the selling stockholders
        pursuant to this prospectus.

      Under
        the terms of the convertible debentures and the warrants, a selling stockholder
        may not convert the convertible debentures or exercise the warrants to the
        extent such conversion or exercise would cause such selling stockholder,
        together with its affiliates, to beneficially own a number of shares of Common
        Stock which would exceed 4.99% of our then outstanding shares of Common Stock
        following such conversion or exercise, excluding for purposes of such
        determination shares of Common Stock issuable upon conversion of the convertible
        debentures which have not been converted and upon exercise of the warrants
        which
        have not been exercised.  The number of shares in the second column does
        not reflect this limitation.  The selling stockholders may sell all, some
        or none of their shares in this offering.  See "Plan of
        Distribution."

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    
      	

              

Name of Selling
                Stockholder

            	
              
Number
                of Shares Owned Prior to Offering

            	
              Maximum
                Number of Shares to be Sold Pursuant to this
                Prospectus

            	
              
Number
                of Shares Owned After Offering

            
	
              Cornell
                Capital Partners, L.P. (1)

            	
               

               

            	
               

            	
               

            

    

     

               
(1)           Cornell Capital
      Partners, L.P. is a Cayman Island exempt limited partnership.  Cornell is
      managed by Yorkville Advisors, LLC.  Investment decisions for Yorkville
      Advisors are made by Mark Angelo, its portfolio manager.  

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

        

                                                        Plan
      of
      Distribution

        Each
      Selling
      Stockholder (the “Selling Stockholders”) of the common stock and any of
      their pledgees, assignees and successors-in-interest may, from time to time,
      sell any or all of their shares of common stock on the __________ or any other
      stock exchange, market or trading facility on which the shares are traded or
      in
      private transactions.  These sales may be at fixed or negotiated
      prices.  A Selling Stockholder may use any one or more of the following
      methods when selling shares:

    ·       
      ordinary brokerage transactions and transactions in which the broker‐dealer
      solicits purchasers;

    ·       
      block trades in which the broker‐dealer will attempt to sell the shares as agent
      but may position and resell a portion of the block as principal to facilitate
      the transaction;

    ·       
      purchases by a broker‐dealer as principal and resale by the broker‐dealer for
      its account;

    ·       
      an exchange distribution in accordance with the rules of the applicable
      exchange;

    ·       
      privately negotiated transactions;

    ·       
      broker‐dealers may agree with the Selling Stockholders to sell a specified
      number of such shares at a stipulated price per share;

    ·       
      through the writing or settlement of options or other hedging transactions,
      whether through an options exchange or otherwise; 

    ·       
      a combination of any such methods of sale; or

    ·       
      any other method permitted pursuant to applicable law.

        The
      Selling
      Stockholders may also sell shares under Rule 144 under the Securities Act of
      1933, as amended (the “Securities Act”), if available, rather than under
      this prospectus.

        Broker‐dealers
      engaged by the Selling Stockholders may arrange for other brokers‐dealers to
      participate in sales.  Broker‐dealers may receive commissions or discounts
      from the Selling Stockholders (or, if any broker‐dealer acts as agent for the
      purchaser of shares, from the purchaser) in amounts to be negotiated, but,
      except as set forth in a supplement to this Prospectus, in the case of an agency
      transaction not in excess of a customary brokerage commission in compliance
      with
      NASDR Rule 2440; and in the case of a principal transaction a markup or markdown
      in compliance with NASDR IM-2440.  

        In
      connection with
      the sale of the common stock or interests therein, the Selling Stockholders
      may
      enter into hedging transactions with broker-dealers or other financial
      institutions, which may in turn engage in short sales of the Common Stock in
      the
      course of hedging the positions they assume.  The Selling Stockholders may
      also enter into option or other transactions with broker-dealers or other
      financial institutions or the creation of one or more derivative securities
      which require the delivery to such broker-dealer or other financial institution
      of shares offered by this prospectus, which shares such broker-dealer or other
      financial institution may resell pursuant to this prospectus (as supplemented
      or
      amended to reflect such transaction).

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

        

        The
      Selling
      Stockholders and any broker-dealers or agents that are involved in selling
      the
      shares may be deemed to be “underwriters” within the meaning of the Securities
      Act in connection with such sales.  In such event, any commissions received
      by such broker-dealers or agents and any profit on the resale of the shares
      purchased by them may be deemed to be underwriting commissions or discounts
      under the Securities Act.  Each Selling Stockholder has informed the
      Company that it does not have any written or oral agreement or understanding,
      directly or indirectly, with any person to distribute the Common Stock. In
      no
      event shall any broker-dealer receive fees, commissions and markups which,
      in
      the aggregate, would exceed eight percent (8%).

        The
      Company is
      required to pay certain fees and expenses incurred by the Company incident
      to
      the registration of the shares.  The Company has agreed to indemnify the
      Selling Stockholders against certain losses, claims, damages and liabilities,
      including liabilities under the Securities Act.  

        Because
      Selling
      Stockholders may be deemed to be “underwriters” within the meaning of the
      Securities Act, they will be subject to the prospectus delivery requirements
      of
      the Securities Act including Rule 172 thereunder.  In addition, any
      securities covered by this prospectus which qualify for sale pursuant to Rule
      144 under the Securities Act may be sold under Rule 144 rather than under this
      prospectus.  There is no underwriter or coordinating broker acting in
      connection with the proposed sale of the resale shares by the Selling
      Stockholders.

        We
      agreed to keep
      this prospectus effective until the earlier of (i) the date on which the shares
      may be resold by the Selling Stockholders without registration and without
      regard to any volume limitations by reason of Rule 144(k) under the Securities
      Act or any other rule of similar effect or (ii) all of the shares have been
      sold
      pursuant to this prospectus or Rule 144 under the Securities Act or any other
      rule of similar effect.  The resale shares will be sold only through
      registered or licensed brokers or dealers if required under applicable state
      securities laws. In addition, in certain states, the resale shares may not
      be
      sold unless they have been registered or qualified for sale in the applicable
      state or an exemption from the registration or qualification requirement is
      available and is complied with.

        Under
      applicable
      rules and regulations under the Exchange Act, any person engaged in the
      distribution of the resale shares may not simultaneously engage in market making
      activities with respect to the common stock for the applicable restricted
      period, as defined in Regulation M, prior to the commencement of the
      distribution.  In addition, the Selling Stockholders will be subject to
      applicable provisions of the Exchange Act and the rules and regulations
      thereunder, including Regulation M, which may limit the timing of purchases
      and
      sales of shares of the common stock by the Selling Stockholders or any other
      person.  We will make copies of this prospectus available to the Selling
      Stockholders and have informed them of the need to deliver a copy of this
      prospectus to each purchaser at or prior to the time of the sale (including
      by
      compliance with Rule 172 under the Securities Act).

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

                                                                  
OTHER
      DISCLOSURES 

     

    See attachment provided separately. 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
                                                                  EXHIBIT
      C

                                                            FORM
      OF NOTICE OF
      EFFECTIVENESS
                                                          OF
      REGISTRATION STATEMENT

     

    Attention:         

     

    Re:      
      UNICORP, INC.

     

    Ladies and
      Gentlemen:

     

        We
      are counsel to
      Unicorp, Inc., a Nevada corporation (the “Company”), and have represented
      the Company in connection with that certain Securities Purchase Agreement (the
      “Securities Purchase Agreement”) entered into by and among the Company
      and the Buyers named therein (collectively, the “Buyers”) pursuant to
      which the Company issued to the Buyers shares of its Common Stock, par value
      $0.001 per share (the “Common Stock”).  Pursuant to the Purchase
      Agreement, the Company also has entered into a Registration Rights Agreement
      with the Buyers (the “Registration Rights Agreement”) pursuant to which
      the Company agreed, among other things, to register the Registrable Securities
      (as defined in the Registration Rights Agreement) under the Securities Act
      of
      1933, as amended (the “Securities Act”).  In connection with the
      Company’s obligations under the Registration Rights Agreement, on ____________
      ____, the Company filed a Registration Statement on Form ________ (File
      No. 333-_____________) (the “Registration Statement”) with the
      Securities and Exchange Commission (the “SEC”) relating to the
      Registrable Securities which names each of the Buyers as a selling stockholder
      there under.

        In
      connection with
      the foregoing, we advise you that a member of the SEC’s staff has advised us by
      telephone that the SEC has entered an order declaring the Registration Statement
      effective under the Securities Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER
      DATE OF EFFECTIVENESS] and we have no knowledge, after telephonic inquiry of
      a
      member of the SEC’s staff, that any stop order suspending its effectiveness has
      been issued or that any proceedings for that purpose are pending before, or
      threatened by, the SEC and the Registrable Securities are available for resale
      under the Securities Act pursuant to the Registration Statement.

    Very truly yours,

     

    [Law Firm]

     

    By:                                                                  

     

    cc:       
[LIST NAMES OF Buyers]

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