Document:

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                                                                    Exhibit 10.7

           THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
         UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE TRANSFERRED IN
         VIOLATION OF SUCH ACT OR THE RULES AND REGULATIONS THEREUNDER.

                               WARRANT TO PURCHASE

                                    SHARES OF

                             MINDARROW SYSTEMS, INC.

                                  COMMON STOCK

NO. 360                                                           MAY 10, 2002

         MindArrow Systems, Inc., a Delaware corporation (the "Company") hereby
issues to EastWest Capital Associates, Inc. (the "Holder") this warrant to
purchase from the Company, at any time or from time to time on or before the
third anniversary of the date of this warrant (or any earlier date specified by
the Company in a written notice given by the Company to the Holder), for a price
per share equal to $0.50, 1,500,000 shares of common stock of the Company.
Notwithstanding the foregoing, if the Company decides not to close the
transactions contemplated in the term sheet dated May 10, 2002 between the
Company and the Holder, then the price per share shall be equal to $0.10 for
1,500,000 shares of common stock of the Company.

         This warrant is subject to the following terms and conditions:

         1.       Exercise. The rights represented by this warrant may be
exercised, at any time or from time to time in whole or in part, by (a) the
surrender of this warrant, along with the purchase form attached as exhibit A-1
(the "Purchase Form"), properly executed, at the address of the Company set
forth in section 7.2 (or such other address as the Company may designate by
notice in writing to the Holder at its address set forth in section 7.2) and (b)
the payment to the Company of the exercise price by check, payable to the order
of the Company, for the number of shares specified in the Purchase Form,
together with any applicable stock transfer taxes. A certificate representing
the shares so purchased and, in the event of an exercise of fewer than all the
rights represented by this warrant, a new warrant in the form of this warrant
issued in the name of the Holder or its designee(s) and representing a new
warrant to purchase a number of shares equal to the number of shares as to which
this warrant was theretofore exercisable less the number of shares as to which
this warrant shall theretofore have been exercised, shall be delivered to the
Holder or such designee(s) as promptly as practicable, but in no event later
than three business days, after this warrant shall have been so exercised.

                                      -1-
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         2.       Adjustment of the Number of Shares. If the Company shall (a)
pay a dividend in common stock or make a distribution in common stock, (b)
subdivide its outstanding common stock, (c) combine its outstanding common stock
into a smaller number of shares of common stock, (d) make a distribution on its
common stock in shares of its capital stock other than common stock, or (e)
issue by reclassification of its common stock, spin-off, split-up,
recapitalization, merger, consolidation or any similar corporate event or
arrangement other securities of the Company, the kind and number of shares of
common stock purchasable upon exercise of this warrant shall be adjusted
immediately prior to the exercise of this warrant so that the Holder shall be
entitled to receive the kind and number of shares or other securities of the
Company to which the Holder would have been entitled to receive after the
happening of any of the events described above had this warrant been exercised
immediately prior to the happening of such event or the record date with respect
to such event.

         3.       Reservation of Shares. From and after the date of this
warrant, the Company shall at all times reserve and keep available for issuance
upon the exercise of this warrant a number of its authorized but unissued shares
of common stock sufficient to permit the exercise in full of this warrant.

         4.       Transfer. Subject to applicable law, this warrant may be
transferred at any time, in whole or in part, to any entity, entities, person or
persons. Any transfer shall be effected by the surrender of this warrant, along
with the form of assignment attached as exhibit A-2, properly executed, at the
address of the Company set forth in section 7.2 (or such other address as the
Company may designate by notice in writing to the Holder at its address set
forth in section 7.2). Thereupon, the Company shall issue in the name or names
specified by the Holder a new warrant or warrants of like tenor and representing
a warrant or warrants to purchase in the aggregate a number of shares equal to
the number of shares to which this warrant was theretofore exercisable less the
number of shares as to which this warrant shall theretofore have been exercised.

         5.       Payment of Taxes. The Company shall cause all shares of common
stock issued upon the exercise of this warrant to be validly issued, fully paid
and nonassessable and not subject to preemptive rights. The Company shall pay
all expenses in connection with, and all taxes and other governmental charges
that may be imposed with respect to, the issuance or delivery of the shares of
common stock upon exercise of this warrant, unless such tax or charge is imposed
by law upon the Holder.

         6.       Piggyback Registration.

                  6.1      Inclusion in Registration. If at any time after the
date of this warrant until the expiration of this warrant, the Company proposes
to register any of its shares of common stock under the Securities Act of 1933
(other than in connection with a merger or pursuant to Form S-8 or S-4 or a
comparable registration statement) it will promptly give notice to the Holder of
its intention to do so. If the Holder notifies the Company within twenty (20)
days after receipt of any such notice of its desire to include any Warrant
Shares (as defined in section 6.3) in such proposed registration, the Company
shall afford the Holder the opportunity to have such Warrant Shares registered
under such registration statement.

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                  Notwithstanding anything in this section 6 to the contrary,
the Company shall have the right at any time after it shall have given any
notice pursuant to this section 6 (irrespective of whether a written request for
inclusion of any Warrant Shares shall have been made), to elect to postpone or
not to file such proposed registration statement or to withdraw the same after
filing but prior to the effective date thereof.

                  6.2      Underwriting Requirements. In connection with any
offering involving an underwriting of shares being sold by the Company, the
Company shall not be required under this section 6 to include any Warrant Shares
in such underwriting unless the Holder accepts the terms of the underwriting as
agreed upon between the Company and the underwriters selected by it, and then
only in such quantity as will not, in the opinion of the underwriters,
jeopardize the success of the offering by the Company. If the total number of
shares, including the Warrant Shares, requested by shareholders, including the
Holder, to be included in the offering exceeds the number of shares sold other
than by the Company that the underwriters reasonably believe compatible with the
success of the offering, then the number of selling shareholders' shares that
may be included in the offering shall be apportioned pro rata among the selling
shareholders according to the total number of shares entitled to be included in
the offering owned by each selling shareholder or in such other proportions as
shall mutually be agreed to by the selling shareholders.

                  6.3      Definition. As used in this section 6, the term
"Warrant Shares" means shares of common stock of the Company issued or issuable
upon the exercise of this warrant

         7.       Miscellaneous.

                  7.1      Securities Act Restrictions. The Holder acknowledges
that this warrant may not be sold, transferred or otherwise disposed of without
registration under the Securities Act of 1933 (the "Act") or an applicable
exemption from the registration requirements of the Act and, accordingly, this
warrant and all certificates representing the common stock and any other
securities issuable upon the exercise of this warrant shall bear a legend in the
form set forth on the top of page one of this warrant.

                  7.2      Notices. All notices and other communications under
this agreement shall be in writing and may be given by any of the following
methods: (a) personal delivery; (b) facsimile transmission; (c) registered or
certified mail, postage prepaid, return receipt requested; or (d) overnight
delivery service. Notices shall be sent to the appropriate party at its, his or
her address or facsimile number given below (or at such other address or
facsimile number for that party as shall be specified by notice given under this
section 7.2):

                  if to the Holder, to it at:

                        EastWest VentureGroup, LLC
                        10900 Wilshire Boulevard, Suite 950
                        Los Angeles, California 90024
                        Attention: Merv Adelson
                        Fax: (310) 209-6160

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                  with a copy to:

                        East-West Capital Associates, Inc.
                        10900 Wilshire Boulevard, Suite 950
                        Los Angeles, California 90024
                        Attention:  Ravin Agrawal
                        Fax: (310) 209-6160

                        Buchalter, Nemer, Fields & Younger
                        601 South Figueroa Street, Suite 2400
                        Los Angeles, California 90017
                        Attention:  Stuart D. Buchalter, Esq.
                        Fax: (213) 896-0400

                  if to the Company, to it at:

                        MindArrow Systems, Inc.
                        2120 Main Street, Suite 200
                        Huntington Beach, CA 92648
                        Attention: Robert Webber, CEO
                        Fax: (714) 536-6280

All such notices and communications shall be deemed received upon (a) actual
receipt by the addressee, (b) actual delivery to the appropriate address or (c)
in the case of a facsimile transmission, upon transmission by the sender and
issuance by the transmitting machine of a confirmation slip confirming that the
number of pages constituting the notice have been transmitted without error. In
the case of notices sent by facsimile transmission, the sender shall
contemporaneously mail a copy of the notice to the addressee at the address
provided for above. However, such mailing shall in no way alter the time at
which the facsimile notice is deemed received.

                  7.3      Amendment. This warrant may be modified or amended or
the provisions of this warrant may be waived only with the written consent of
the Company and the Holder.

                  7.4      Mutilated or Missing Warrant. In case this warrant
shall be mutilated, lost, stolen or destroyed, the company shall, as soon as
practicable upon receiving notice of such event, issue, in exchange and
substitution for and upon cancellation of the mutilated warrant, or in lieu of
and substitution for the warrant lost, stolen or destroyed, a new warrant of
like tenor and representing a warrant to purchase in the aggregate a number of
shares equal to the number of shares to which this warrant was previously
exercisable, but only upon receipt of evidence reasonably satisfactory to the
Company of such loss, theft or destruction of such warrant and indemnity, if
requested, also reasonably satisfactory to it or, in the case of any such
mutilation, upon surrender and cessation of such warrant. Applicants for such
substitute warrant shall also

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comply with such other reasonable requests and pay such other reasonable charges
as the Company may prescribe.

                  7.5      Governing Law. This warrant shall be governed by the
law of the state of Delaware, without regard to the provisions thereof relating
to conflicts of laws.

                                    MINDARROW SYSTEMS, INC.

                                    By: ______________________________________
                                          Michael R. Friedl,
                                          CFO

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                                   EXHIBIT A-1

                                  PURCHASE FORM

                 [To be executed only upon exercise of warrant]

         The undersigned registered owner of this warrant irrevocably exercises
this warrant for the purchase of ________________ shares of common stock of
MindArrow Systems, Inc. and herewith makes payment therefor, all at the price
and on the terms and conditions specified in this warrant and requests that
certificates for the shares of common stock hereby purchased be issued in the
name of and delivered to _________________________________ whose address is
________________________________________________________ and, if such shares of
common stock shall not include all of the shares of common stock issuable as
provided in this warrant, that a new warrant of like tenor and date for the
balance of the shares of common stock issuable hereunder be delivered to the
undersigned.

Dated: _________________________

                                    ________________________________________
                                    (Name of Registered Owner)

                                    ________________________________________
                                    (Signature of Registered Owner)

                                    ________________________________________
                                    (Street Address)

                                    ________________________________________
                                    (City)            (State)     (Zip Code)

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                                   EXHIBIT A-2

                                 ASSIGNMENT FORM

         FOR VALUE RECEIVED, the undersigned registered owner of this warrant
hereby sells, assigns and transfers to the assignee named below all of the
rights of the undersigned under this warrant with respect to the number of
shares of common stock set forth below:

<TABLE>
<CAPTION>
                                                    No. of shares
Name and Address of Assignee                        Common Stock
____________________________                        ____________________________
<S>                                                 <C>

</TABLE>

and does hereby irrevocably constitute and appoint _____________________________
attorney-in-fact to register such transfer on the books of MindArrow Systems,
Inc. maintained for the purpose, with full power of substitution in the
premises.

Dated: __________________           Print Name: ________________________________

                                    Signature: _________________________________

                                    Witness: ___________________________________

                                      -7-<PAGE>
                                                                    EXHIBIT 10.8

                               ADVISORY AGREEMENT

         THIS ADVISORY AGREEMENT (this "AGREEMENT") is entered into as of
________, 2002, by and among MINDARROW SYSTEMS, INC., a Delaware corporation
(the "COMPANY"), and EAST-WEST CAPITAL ASSOCIATES, INC., a California
corporation (the "ADVISOR").

         WHEREAS:

         A. The Company has sold shares of its Common Stock to a group of
accredited investors pursuant to the Securities Purchase Agreement dated
_________, 2002 (the "SECURITIES PURCHASE AGREEMENT"). All capitalized terms not
otherwise defined in this Agreement shall have the meanings set forth in the
Securities Purchase Agreement.

         B. It is a condition of the Securities Purchase Agreement that the
Company enters into this Agreement with the Advisor.

         C. Subject to the terms and conditions of this Agreement, the Company
desires to retain the Advisor to provide certain advisory services to the
Company, and the Advisor desires to provide such services.

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

         1. SERVICES. The Advisor hereby agrees that, during the term of this
Agreement, as set forth in Section 4 of this Agreement, the Advisor
will:

            1.1 review the business, financial, and transaction feasibility of
any proposals made to the Company by C5 Technologies, Inc. with respect to a
possible business combination (the "C5 PROPOSAL");

            1.2 evaluate transaction structures appropriate to the C5 Proposal;
and

            1.3 if requested by the Company, assist with negotiating the C5
Proposal.

         2. COVENANT. The Company hereby agrees that, in order to facilitate the
ability of the Advisor to carry out its respective duties under this Agreement,
the Company will cooperate with the Advisor, such cooperation to include
responding in a reasonable manner and in a reasonable amount of time to all
requests by the Advisor or its respective agents to furnish the Advisor with all
documentation, reports, notes and files and to give the Advisor access to key
employees of the Company, to the extent such information or such key employees
are relevant to the duties of the Advisor.

         3. GRANT OF WARRANTS. In connection with the services to be provided
hereunder and the execution of the Securities Purchase Agreement, the Company
hereby grants to the Advisor a

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warrant, in the form attached hereto as Exhibit A (the "ADVISORY WARRANT"), to
purchase an aggregate of 1,500,000 shares of the Common Stock of the Company at
an exercise price of $0.50 per share. The Advisory Warrant shall expire three
years from the date hereof. For tax purposes only, the Company and the Advisor
agree that the value of the Advisory Warrant as of the date hereof is $100.00.
Notwithstanding anything to the contrary contained herein, the Advisory Warrant
shall be owned free and clear of all liens other than the liens created by the
Advisor and any breach of this Agreement shall not affect the Advisor's
ownership rights of the Advisory Warrant.

         4. TERM.

            4.1 Except as expressly set forth in this Section 4, this Agreement
shall continue in full force and effect until the consummation, termination or
abandonment of the C5 Proposal, unless and until terminated by mutual consent of
the parties.

            4.2 The Advisor shall cease to be a party to this Agreement and,
except as set forth in Section 4.3, shall be released of all of their rights and
obligations hereunder and this Agreement shall terminate upon any of the
following events:

                (a) the Advisor (or a successor or permitted assign of the
Advisor, as the case may be) ceases to provide services to the Company of the
type described in Section 1 above, as determined in the sole discretion of the
Company's Board of Directors; or

                (b) upon election of the Advisor in the event that the Company
materially breaches the terms of this Agreement and fails to cure such breach
within 30 days following written notice thereof.

            4.3 Each of (a) any and all accrued and unpaid obligations of the
Company owed under Section 3 above and (b) the provisions of Section 5.2 and
Sections 6.1 - 6.3 shall survive any termination or expiration of this Agreement
to the maximum extent permitted under applicable law.

         5. EXPENSES; INDEMNIFICATION.

            5.1 EXPENSES. The Company agrees to pay any actual expenses incurred
by the Advisor in connection with the Advisor's services under this Agreement,
including but not limited to any out-of-pocket expenses incurred by the Advisor
in connection with the Advisor's obligations hereunder, the provision of
services hereunder or the attendance at any meeting of the board of directors
(or any committee thereof) of the Company or any of its affiliates, but not to
exceed either the greater of: (i) $10,000 annually or (ii) an amount determined
to be in the best interest of the Company by the Chief Executive Officer.
Notwithstanding the foregoing, if a member or employee of an Advisor is a member
of the board of directors, the Company shall pay only expenses within the
parameters of established Company policy.

            5.2 INDEMNITY AND LIABILITY. In consideration of the execution and
delivery of this Agreement by the Advisor, the Company hereby agrees to
indemnify, exonerate and hold the Advisor, and each of its respective partners,
shareholders, affiliates, directors, officers, fiduciaries,

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employees and agents and each of the partners, shareholders, affiliates,
directors, officers, fiduciaries, employees and agents of each of the foregoing
(collectively, the "INDEMNITEES") free and harmless from and against any and all
actions, causes of action, suits, losses, liabilities and damages, and expenses
in connection therewith, including without limitation attorneys' fees and
disbursements (collectively, the "INDEMNIFIED LIABILITIES"), incurred by the
Indemnitees or any of them as a result of, or arising out of, or relating to
this Agreement or any services performed under this Agreement, except for any
such Indemnified Liabilities arising on account of such Indemnitee's willful
misconduct and if and to the extent that the foregoing undertaking may be
unenforceable for any reason, the Company hereby agrees to make the maximum
contribution to the payment and satisfaction of each of the Indemnified
Liabilities which is permissible under applicable law. None of the Indemnitees
shall be liable to the Company or any of its affiliates for any act or omission
suffered or taken by such Indemnitee that does not constitute gross negligence
and/or willful misconduct.

         6. MISCELLANEOUS.

            6.1 GOVERNING LAW. This Agreement may be governed by and construed
in accordance with the laws of the State of Delaware without regard to
principles of conflicts of law.

            6.2 ARBITRATION. Any dispute or claim arising hereunder shall be
settled by arbitration. Any party may commence arbitration by sending a written
notice of arbitration to the other party. The notice will state the dispute with
particularity. The arbitration hearing shall be commenced thirty (30) days
following the date of delivery of notice of arbitration by one party to the
other, by a single neutral arbitrator appointed by the American Arbitration
Association ("AAA"). The arbitration shall be conducted in Los Angeles,
California in accordance with the commercial arbitration rules promulgated by
AAA, and the Advisor, on the one hand, and the Company, on the other, shall
retain the right to cross-examine the opposing party's witnesses, either through
legal counsel, expert witnesses or both. The decision of the arbitrator shall be
final, binding and conclusive on all parties (without any right of appeal
therefrom) and shall not be subject to judicial review. As part of his decision,
the arbitrator may allocate the cost of arbitration, including fees of attorneys
and experts, as he or she deems fair and equitable in light of all relevant
circumstances. Judgment on the award rendered by the arbitrator may be entered
in any court of competent jurisdiction.

            6.3 WAIVER OF JURY TRIAL. TO THE MAXIMUM EXTENT THEY MAY LEGALLY DO
SO, THE PARTIES TO THIS AGREEMENT HEREBY EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY
JURY OF ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING ARISING UNDER
OR WITH RESPECT TO THIS AGREEMENT, OR IN ANY WAY CONNECTED WITH, OR RELATED TO,
OR INCIDENTAL TO, THE DEALINGS OF THE PARTIES HERETO WITH RESPECT TO THIS
AGREEMENT, OR THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING
OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR
OTHERWISE. TO THE EXTENT THEY MAY LEGALLY DO SO, THE PARTIES TO THIS AGREEMENT
HEREBY AGREE THAT ANY SUCH CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDING
SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT ANY PARTY HERETO MAY
FILE AN ORIGINAL

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COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF THE OTHER PARTY OR PARTIES HERETO TO WAIVER OF ITS OR THEIR RIGHT TO
TRIAL BY JURY.

         6.4 INDEPENDENT CONTRACTOR. The Advisor is an independent contractor.
This Agreement shall not create the relationship of employer and employee, a
partnership, or a joint venture. The Company shall not control or direct the
details and means by which the Advisor performs its business and services. The
Advisor shall determine the number of days and hours of its work as well as the
number of assistants, partners or employees utilized by the Advisor in its
responsibilities under this Agreement. The Advisor shall be solely responsible
for the amount of wages, benefits, work schedules and/or any other conditions of
any of either Advisor's assistants, partners or employees. Finally, the Advisor
is an independent contractor and not an employee of the Company and agrees to
comply with all federal and state tax and Social Security legislation as
applicable to independent contractors. The Advisor has no authority to bind the
company or incur any obligation on behalf of the Company.

         6.5 SUCCESSORS AND ASSIGNS. Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto any
rights, remedies, obligations, or liabilities under or by reason of this
Agreement, except as expressly provided in this Agreement. The rights of either
party shall not be assigned or transferred either voluntarily or by operation of
law without the other party's written consent, nor shall the duties of either
party be delegated in whole or in part either voluntarily or by operation of law
without the other party's written consent. Any unauthorized assignment, transfer
or delegation shall be of no force or effect.

         6.6 COUNTERPARTS. This Agreement may be executed in two or more
counterparts, and signature pages may be delivered by facsimile, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

         6.7 HEADINGS. The headings used in this Agreement are for convenience
of reference and shall not form part of, or affect the interpretation of, this
Agreement.

         6.8 NOTICES. Unless otherwise provided, any notice required or
permitted under this Agreement shall be given in writing and shall be deemed
effectively given upon personal delivery to the party to be notified, two days
after deposit with an overnight courier service or five days after deposit with
the United States Post Office, by first class mail, postage prepaid and
addressed to the party to be notified at the address indicated for such party on
the signature page hereof, or at such other address as such party may designate
by ten (10) days' advance written notice to the other parties.

         6.9 EXPENSES. If any action at law or equity is necessary to enforce or
interpret the terms of this Agreement, the prevailing party shall be entitled to
reasonable attorneys' fees and costs and necessary disbursements in addition to
any other relief to which such party may be entitled.

         6.10 ENTIRE AGREEMENT, AMENDMENTS AND WAIVERS. This Agreement and the
documents referred to herein constitute the full and entire understanding and
agreement among the

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parties with regard to the subjects hereof and thereof. Any term of this
Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or
prospectively), only with the written consent of the Company and the Advisor.

         6.11 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 or
the validity or enforceability of this Agreement in any other jurisdiction.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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                               ADVISORY AGREEMENT
                             COMPANY SIGNATURE PAGE

           IN WITNESS WHEREOF, the undersigned, being duly authorized, has
executed this Agreement on behalf of the Company as of the date first above
written.

                                  MINDARROW SYSTEMS, INC.

                                  By:
                                       ------------------------------
                                       Name:  Robert Webber
                                       Title: Chief Executive Officer

                                       Address:   2120 Main Street
                                                  Suite 200
                                                  Huntington Beach, CA 92648

                                       6
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                               ADVISORY AGREEMENT
                          THE ADVISOR'S SIGNATURE PAGE

                                           EAST-WEST CAPITAL ASSOCIATES, INC.

                                           By:
                                              --------------------------------
                                              Name: Merv Adelson
                                              Title: Chairman

                                              Address:  10900 Wilshire Boulevard
                                                        Suite 950
                                                        Los Angeles, CA 90024

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