Document:

THESE
      SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD OR OFFERED
      FOR
      SALE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
      OR
      AN OPINION OF COUNSEL OR OTHER EVIDENCE ACCEPTABLE TO THE COMPANY THAT SUCH
      REGISTRATION IS NOT REQUIRED.

    

    AMENDMENT
      TO SECURED DEBENTURE

    

    This
      Amendment to Secured Debenture (the “Amendment), effective September 22, 2006
      (“Effective Date”), is
      made
      by and between Phantom Entertainment, Inc. (f/k/a Infinium Labs, Inc.,) a
      Delaware corporation (“Company”), and James Beshara (“Beshara” or
“Holder”).

    

    WHEREAS,
      the Company and Holder executed a 15% Secured Debenture on March 29, 2004 (the
      “Note”); and

    

    WHEREAS,
      the Company and Holder wish to amend the Note with this Amendment in order
      to
      provide Holder with the ability to convert the Note, in whole or in part, into
      common stock, par value $0.0001 per
      share
      (“Common
      Stock”),
      of the
      Company.

    

    NOW,
      THEREFORE, for good and valuable consideration, the receipt and sufficiency
      of
      which the parties hereby acknowledge, the parties agree to amend the Note to
      add
      the following provisions:

    

    1. Balance
      of Note.
      The
      Company and Holder hereby agree that, as of the Effective Date, the outstanding
      principal balance of the Note is $1,010,478 and the outstanding accrued and
      unpaid interest on the Note is $2,303.07, all of which has become due. Holder
      acknowledges that aside from the Note, and the rights provided therein, the
      Company has no other obligations to Holder. The Company and Holder acknowledge
      that the Holder is providing no consideration to the Company for this Amendment.
      

    

    2. Conversion
      Rights.
      The
      Holder shall have the right to convert the principal and any interest due under
      this Note into shares of the Company’s Common Stock, $.0001 par value per share
      (“Common Stock”) as set forth below.

    

    2.1. Conversion
      into the Company's Common Stock.

    

    (a) The
      Holder shall have the right from and after the date of the issuance of this
      Note
      and then at any time until this Note is fully paid, to convert any outstanding
      and unpaid principal portion of this Note, and accrued interest, at the election
      of the Holder (the date of giving of such notice of conversion being a
      "Conversion Date") into fully paid and nonassessable shares of Common Stock
      as
      such stock exists on the date of issuance of this Note, or any shares of capital
      stock of Company into which such Common Stock shall hereafter be changed or
      reclassified, at the conversion price as defined in Section 2.1(b) hereof (the
      "Conversion Price"), determined as provided herein. Upon delivery to the Company
      of a completed Notice of Conversion, a form of which is annexed hereto at
      Exhibit A (and shall include all applicable sales confirmations in a form such
      as attached at Exhibit A-1), Company shall issue and deliver to the Holder’s
      Broker, (“Broker”) within three (3) business days after the Conversion Date
      (such third day being the “Delivery Date”) that number of shares of Common Stock
      for the portion of the Note converted in accordance with the foregoing. The
      number of shares of Common Stock to be issued upon each conversion of this
      Note
      shall be determined by dividing that portion of the principal of the Note and
      interest, if any, to be converted, by the Conversion Price.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (b)
      The
      Conversion Price shall be equal to the Sale Proceeds per share sold, less a
      discount of 22.5%, until such time as an aggregate of $310,000 in Sale Proceeds
      shall have been generated for the account of the Holder, at which time the
      discount shall be automatically reduced to 15%. “Sale Proceeds” shall be the
      actual gross price at which the shares issuable upon conversion are sold for
      the
      account of the Holder by the Holder’s Broker in accordance with Section 2.2
      below.

    

    (c) Company
      represents that upon issuance, such shares will be duly and validly issued,
      fully paid and non-assessable. 

    

    2.2 Method
      of Conversion.
      

    

    (a) This
      Note
      may be converted by the Holder in whole or in part as described in Section
      2.1(a) hereof and as further provided in this Section 2.2. 

    

    (b) No
      Conversion Notice shall be effective except with respect to underlying shares
      of
      Common Stock that have actually been sold by the Holder’s Broker and that are
      then issuable in respect of unpaid principal or interest owing under this Note.
      The Company shall have no liability in respect of shares sold for the account
      of
      the Holder in excess of the number of shares then issuable under this
      Note.

    

    (c) Upon
      each
      partial conversion of this Note, the Company shall note the same on a separate
      Schedule of Conversions (see Exhibit B), showing the amount allocated to payment
      of interest and principal, which shall be binding except for manifest error.
      The
      Company shall transmit a copy of such Schedule to the Holder at the end of
      each
      week during which conversions take place, and at such other times as the Holder
      shall request.

    

    2.3 Sales
      Restrictions. Beshara
      agrees: (a) he will enter into a sales plan with Broker and shall not sell
      below
      the bid on any given trade or greater than twenty percent (20%) of the average
      daily trading volume on any given trading day, using the average trading volume
      over the previous two trading days as an indicator, except that Beshara may
      sell
      up to an additional five percent (5%) of the average trading volume on any
      given
      day so long as each of these sales are at or above the first bid following
      the
      first sale exceeding the 20% threshold (b) all sales shall be into the open
      market or otherwise effected on a national exchange, (d) he shall not engage,
      directly or indirectly, in any hedging activities (including, but without
      limitation, short sales) with respect to the Shares, (e) he will not, through
      his own sales, negatively affect the per share price of the common stock, (f)
      he
      will sell all Shares through Broker, and (g) provide instructions to Broker
      to
      disclose all sales records to Company upon Company’s request (collectively, the
“Sales Restrictions”). The Holder shall not be entitled to convert any portion
      of this Note if and to the extent such conversion results from or is made in
      connection with a transaction that violates or would violate this Section 2.3,
      and the Company shall have the right to reject any conversion so made.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    2.4 Maximum
      Conversion. 
      The Holder shall not be entitled to convert on a Conversion Date that amount
      of
      the Note in connection with that number of shares of Common Stock which would
      be
      in excess of the sum of (i) the number of shares of Common Stock beneficially
      owned by the Holder and its affiliates on a Conversion Date, (ii) any Common
      Stock issuable in connection with the unconverted portion of the Note, and
      (iii)
      the number of shares of Common Stock issuable upon the conversion of the Note
      with respect to which the determination of this provision is being made on
      a
      Conversion Date, which would result in beneficial ownership by the Holder and
      its affiliates of more than 4.99% of the outstanding shares of Common Stock
      of
      the Borrower on such Conversion Date.  For the purposes of the provision to
      the immediately preceding sentence, beneficial ownership shall be determined
      in
      accordance with Section 13(d) of the Securities Exchange Act of 1934, as
      amended, and Regulation 13d-3 thereunder.  Subject to the foregoing, the
      Holder shall not be limited to aggregate conversions of only 4.99% and aggregate
      conversion by the Holder may exceed 4.99%. 

    

    3
      Company
      represents that it will secure a legal opinion for Holder covering the resale
      of
      the Common Stock pursuant to the terms of this Amendment.

    

    4.
      At
      Full Payment.
      The
      Company and Holder agree that upon full repayment of the Note through conversion
      or payment in cash, the Company shall be forever released from all its
      obligations and liabilities under the Note. In addition, at such time, Holder
      shall deliver the Note to the Company.

    

    5.
      Further
      Assurances.
      In
      connection with the conversion of the Note, the Holder, by entering into this
      Amendment, agrees to execute all agreements and other documents as reasonably
      requested by the Company.

    

    

    6.
      Investor
      Representations and Warranties and Covenants~.
      The
      Holder represents, warrants and covenants to the Company as
      follows:

    

    a.
       No
      Registration.
      Such
      Holder understands that the Note, and any shares of Common Stock have not been,
      and will not be, registered under the Securities Act of 1933, as amended (the
      “Securities
      Act”)
      by
      reason of a specific exemption from the registration provisions of the
      Securities Act, the availability of which depends upon, among other things,
      the
      bona fide nature of the investment intent and the accuracy of such Holder’s
      representations as expressed herein or otherwise made pursuant
      hereto.

    

    b. Investment
      Experience.
      Such
      Holder has substantial experience in evaluating and investing in private
      placement transactions of securities in companies similar to the Company and
      acknowledges that such Holder can protect its own interests. Such Holder has
      such knowledge and experience in financial and business matters so that such
      Holder is capable of evaluating the merits and risks of its investment in the
      Company.

    

    c. Residency.
      The
      residency of the Holder (or, in the case of a partnership or corporation, such
      entity’s principal place of business) is correctly set forth on the signature
      page hereto.

    

    d. Speculative
      Nature of Investment.
      Such
      Holder understands and acknowledges that the Company has a limited financial
      and
      operating history and that an investment in the Company is highly speculative
      and involves substantial risks. Such Holder can bear the economic risk of such
      Holder’s investment and is able, without impairing such Holder’s financial
      condition, to suffer a complete loss of such Holder’s investment.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    e. Access
      to Data.
      The
      Holder and its advisors, if any, have been furnished with or have been given
      access to all materials relating to the business, finances and operations
      of
      the
      Company and any reasonably requested materials requested by the Holder, The
      Holder and its advisors, if any, have been afforded the opportunity to ask
      questions of the Company and its management and have received complete and
      satisfactory answers to any such inquiries. Without limiting the generality
      of
      the foregoing, the Holder has had the opportunity to obtain and to review the
      Company’s filings available on the EDGAR web site of the Securities and Exchange
      Commission (www.sec.gov).

    

    f. Accredited
      Investor.
      The
      Holder is an “accredited investor’ within the meaning of Regulation D, Rule 50
      1(a), promulgated by the Securities and Exchange Commission under the Securities
      Act and shall submit to the Company such further assurances of such status
      as
      may be reasonably requested by the Company.

    

    g.
      Rule
      144.
      Holder
      acknowledges that he is aware of the provisions of Rule 144 promulgated under
      the Securities Act which permit limited resale of shares purchased in a private
      placement subject to the satisfaction of certain conditions, including among
      other things, the existence of a public market for the shares, the availability
      of certain current public information about the Company, the resale occurring
      not less than one year after a party has purchased and paid for the security
      to
      be sold, the sale being effected through a “broker’s transaction” or in
      transactions directly with a “market maker” and the number of shares being sold
      during any three-month period not exceeding specified limitations. Such Holder
      acknowledges that, in the event all of the requirements of Rule 144 are not
      met,
      registration under the Securities Act or an exemption from registration will
      be
      required for any disposition of the Common Stock Such Holder understands that,
      although Rule 144 is not exclusive, the Securities and Exchange Commission
      has
      expressed its opinion that persons proposing to sell restricted securities
      received in a private offering other than in a registered offering or pursuant
      to Rule 144 will have a substantial burden of proof in establishing that an
      exemption from registration is available for such offers or sales and that
      such
      persons and the brokers who participate in the transactions do so at their
      own
      risk.

    

    h. Affiliate
      Status.
      Holder
      represents that his is not and has not been an affiliate of the Company in
      the
      three (3) months prior to the Effective Date and currently owns no shares of
      common stock of the Company outside of the convertible debenture.

    

    i.
      Authorization.

    

    (i).
      Such
      Holder has all requisite power and authority to execute and deliver this
      Conversion Agreement, and to carry out and perform its obligations under the
      terms hereof. All action on the part of the Holder necessary for the
      authorization, execution, delivery and performance of this Conversion Agreement,
      and the performance of all of the Holder’s obligations herein, has been
      taken.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (ii). This
      Conversion Agreement, when executed and delivered by the Holder, will constitute
      valid and legally binding obligations of the Holder, enforceable in accordance
      with its terms except: (i) as limited by applicable bankruptcy, insolvency,
      reorganization, moratorium and other laws of general application affecting
      enforcement of creditors’ rights generally, and (ii) as limited by laws relating
      to the availability of specific performance, injunctive relief or other
      equitable remedies or by general principles of equity.

    

    (iii). No
      consent, approval, authorization, order, filing, registration or qualification
      of or with any court, governmental authority or third person is required to
      be
      obtained by the Holder in connection with the execution and delivery of this
      Conversion Agreement by the Holder or the performance of the Holder’s
      obligations hereunder.

    

    j. Brokers
      or Finders.
      Such
      Holder has not engaged any brokers, finders or agents, and the Company has
      not,
      and will not, incur, directly or indirectly, as a result of any action taken
      by
      the Holder, any liability for brokerage or finders’ fees or agents’ commissions
      or any similar charges in connection with this Conversion Agreement and the
      transactions related hereto.

    

    k. Tax
      Advisors.
      Such
      Holder has reviewed with its own tax advisors the U.S. federal, state, local
      and
      foreign tax consequences of this investment and the transactions contemplated
      by
      this Conversion Agreement. With respect to such matters, such Holder relies
      solely on such advisors and not on any statements or representations of the
      Company or any of its agents, written or oral. The Holder understands that
      it
      (and not the Company) shall be responsible for its own tax liability that may
      arise as a result of this investment or the transactions contemplated by this
      Conversion Agreement.

    

    1. Legends.
      Such
      Holder understands and agrees that without the Opinion, the certificates
      evidencing the conversion into shares of Common Stock shall bear a legend in
      substantially the form as follows (in addition to any legend required by any
      other applicable agreement or under applicable state securities
      laws):

    

    “THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE
      NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED, OR THE SECURITIES LAWS OF
      ANY
      STATE, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED,
      PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
      REGISTERED UNDER SUCH ACT AND/OR APPLICABLE
      STATE SECURITIES LAWS, OR UNLESS THE COMPANY
      HAS RECEIVED AN OPINION OF COUNSEL OR OTHER
      EVIDENCE, REASONABLY SATISFACTORY TO THE
      COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION
      IS NOT REQUIRED.”

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    7.
      Inconsistency.
      In the
      event of any inconsistency between the terms of this Amendment and any other
      document executed in connection herewith, the terms of this Amendment shall
      control to the extent necessary to resolve such inconsistency. All other terms
      and conditions of the Note not modified in this Amendment shall remain in full
      force and effect.

    

    8.
      Entire
      Agreement.
      This
      Amendment together with the Note represents the entire agreement between the
      parties relating to the Note and supersedes any prior agreement(s) concerning
      the Note. 

     

    

    IN WITNESS
      WHEREOF, the parties have caused this Agreement to be duly executed by parties
      duly authorized to act as of the day and year first above written.

    

    PHANTOM
      ENTERTAINMENT, INC.

    

    

    By
      /s/
      Greg
      Koler                           

    GREG
      KOLER

    Its: 
      CEO

     

    /s/
      James
      Beshara                         

    JAMES
      BESHARATHESE
      SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD OR OFFERED
      FOR
      SALE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
      OR
      AN OPINION OF COUNSEL OR OTHER EVIDENCE ACCEPTABLE TO THE COMPANY THAT SUCH
      REGISTRATION IS NOT REQUIRED.

    

    

    CONVERSION
      AGREEMENT

    

    THIS
      CONVERSION AGREEMENT, dated as of October 23, 2006, is
      made
      by and between Phantom Entertainment, Inc. (f/k/a Infinium Labs, Inc.) a
      corporation (“Company”), and Timothy Roberts (“Holder”).

    

    WHEREAS,
      the Company issued a promissory note bearing interest at 8% per annum to Holder
      (the “Note”) on January 1, 2006; and

    

    WHEREAS,
      the Holder wishes to convert the Note into common stock, par value
      $0.0001 per
      share
      (“Common
      Stock”),
      of the
      Company;

    

    NOW,
      THEREFORE, for good and valuable consideration, the receipt and sufficiency
      of
      which the parties hereby acknowledge the parties agree as follows:

    

    1. Conversion
      of Note.
      The
      Company and Holder hereby agree that the outstanding principal balance of the
      Note is $91,774.91 and all interest accrued and unpaid thereon of $5,933.94
      (collectively, the “Balance”) shall convert into shares of the Company’s Common
      Stock at a per share price equal to $.0049 cents. The Company and Holder agree
      that the Balance is $97,708.85 and that upon conversion of the Note in full
      and
      the issuance by the Company of (i) 18,729,573 shares of Common Stock
      (“Conversion Shares”) as full payment of the Balance and (ii) 1,211,008 shares
      of Common Stock (“Interest Shares”) (collectively 19,940,582), the Company shall
      be forever released from all its obligations and liabilities under the
      Note.

    

    2. Closing.
      At the
      Closing, Holder shall deliver the Note to the Company and the Company shall
      deliver the Conversion Shares and the Interest Shares to Holder.

    

    3. Further
      Assurances.
      In
      connection with the conversion of the Note, the Holder, by entering into this
      Conversion Agreement, agrees to execute all agreements and other documents
      as
      reasonably requested by the Company.

    

    4. Investor
      Representations and Warranties and Covenants.
      The
      Holder represents, warrants and covenants to the Company as
      follows:

    

    a,
      No
      Registration.
      Such
      Holder understands that the Note, the Conversion Shares and the Interest Shares
      have not been, and will not be, registered under the Securities Act of 1933,
      as
      amended (the “Securities
      Act”)
      by
      reason of a specific exemption from the registration provisions of the
      Securities Act, the availability of which depends upon, among other things,
      the
      bona fide nature of the investment intent and the accuracy of such Holder’s
      representations as expressed herein or otherwise made pursuant
      hereto.

     

    
      
         

      

      
        Page
          1

        
          

        

      

      
         

      

    

    

    b. Investment
      Intent.
      Such
      Holder has acquired the Note, and is acquiring the Conversion Shares and
      Interest Shares, for investment for its own account, not as a nominee or agent,
      and not with the view to, or for resale in connection with,
      any
      distribution thereof, and such Holder has no present intention of selling,
      granting any participation in, or otherwise distributing the same. Such Holder
      further represents that it will not violate the Securities Act and does not
      have
      any contract, undertaking, agreement or arrangement with any person or entity
      to
      sell, transfer or grant participation to such person or entity or to any third
      person or entity with respect to the Note, Conversion Shares and Interest
      Shares.

    

    c. Investment
      Experience.
      Such
      Holder has substantial experience in evaluating and investing in private
      placement transactions of securities in companies similar to the Company and
      acknowledges that such Holder can protect its own interests. Such Holder has
      such knowledge and experience in financial and business matters so that such
      Holder is capable of evaluating the merits and risks of its investment in the
      Company.

    

    d. Residency.
      The
      residency of the Holder (or, in the case of a partnership or corporation, such
      entity’s principal place of business) is correctly set forth on the signature
      page hereto.

    

    e. Speculative
      Nature of Investment.
      Such
      Holder understands and acknowledges that the Company has a limited financial
      and
      operating history and that
      an
investment
      in the Company is highly speculative and involves substantial risks. Such Holder
      can bear the
      economic risk of such Holder’s investment and is able, without impairing such
      Holder’s financial
      condition, to hold the Conversion Shares and Interest Shares for an indefinite
      period of time and to suffer a complete loss of such Holder’s
      investment.

    

    f. Access
      to Data.
      The
      Holder and its advisors, if any, have been furnished with or have been given
      access to all materials relating to the business, finances and operations
      of
      the
      Company and any reasonably requested materials requested by the Holder, The
      Holder and its advisors, if any, have been afforded the opportunity to ask
      questions of the Company and its management and have received complete and
      satisfactory answers to any such inquiries. Without limiting the generality
      of
      the foregoing, the Holder has had the opportunity to obtain and to review the
      Company’s filings available on the EDGAR web site of the Securities and Exchange
      Commission (www.sec.gov).

    

    g. Accredited
      Investor.
      The
      Holder is an “accredited investor’ within the meaning of Regulation D, Rule 50
      1(a), promulgated by the Securities and Exchange Commission under the Securities
      Act and shall submit to the Company such further assurances of such status
      as
      may be reasonably requested by the Company.

    

    h.
      Rule
      144.
      Such
      Holder acknowledges that the Conversion Shares and Interest Shares must be
      held
      indefinitely unless subsequently registered under the Securities Act or an
      exemption from such registration is available. Such Holder is aware of the
      provisions of Rule 144 promulgated under the Securities Act which permit limited
      resale of shares purchased in a private placement subject to the satisfaction
      of
      certain conditions, including among other things, the existence of a public
      market for the shares, the availability of certain current public information
      about the Company, the resale occurring not less than one year after a party
      has
      purchased and paid for the security to be sold, the sale being effected through
      a “broker’s transaction” or in transactions directly with a “market maker” and
      the number of shares being sold during any three-month period not exceeding
      specified limitations. Such Holder acknowledges that, in the event all of the
      requirements of Rule 144 are not met, registration under the Securities Act
      or
      an exemption from registration will be required for any disposition of the
      Conversion Shares or Interest Shares Such Holder understands that, although
      Rule
      144 is not exclusive, the Securities and Exchange Commission has expressed
      its
      opinion that persons proposing to sell restricted securities received in a
      private offering other than in a registered offering or pursuant to Rule 144
      will have a substantial burden of proof in establishing that an exemption from
      registration is available for such offers or sales and that such persons and
      the
      brokers who participate in the transactions do so at their own
      risk.

     

    
      
         

      

      
        Page
          2

        
          

        

      

      
         

      

    

    

    i.
      Authorization.

    

    i.
      Such
      Holder has all requisite power and authority to execute and deliver this
      Conversion Agreement, and to carry out and perform its obligations under the
      terms hereof. All action on the part of the Holder necessary for the
      authorization, execution, delivery and performance of this Conversion Agreement,
      and the performance of all of the Holder’s obligations herein, has been
      taken.

    

    ii. This
      Conversion Agreement, when executed and delivered by the Holder, will constitute
      valid and legally binding obligations of the Holder, enforceable in accordance
      with its terms except: (i) as limited by applicable bankruptcy, insolvency,
      reorganization, moratorium and other laws of general application affecting
      enforcement of creditors’ rights generally, and (ii) as limited by laws relating
      to the availability of specific performance, injunctive relief or other
      equitable remedies or by general principles of equity.

    

    iii. No
      consent, approval, authorization, order, filing, registration or qualification
      of or with any court, governmental authority or third person is required to
      be
      obtained by the Holder in connection with the execution and delivery of this
      Conversion Agreement by the Holder or the performance of the Holder’s
      obligations hereunder.

    

    j. Brokers
      or Finders. Such Holder has not engaged any brokers, finders or agents, and
      the Company has not, and will not, incur, directly or indirectly, as a result
      of
      any action taken by the Holder, any liability for brokerage or finders’ fees or
      agents’ commissions or any similar charges in connection with this Conversion
      Agreement and the transactions related hereto.

    

    k. Tax
      Advisors.
      Such
      Holder has reviewed with its own tax advisors the U.S. federal, state, local
      and
      foreign tax consequences of this investment and the transactions contemplated
      by
      this Conversion Agreement. With respect to such matters, such Holder relies
      solely on such advisors and not on any statements or representations of the
      Company or any of its agents, written or oral. The Holder understands that
      it
      (and not the Company) shall be responsible for its own tax liability that may
      arise as a result of this investment or the transactions contemplated by this
      Conversion Agreement.

     

    
      
         

      

      
        Page
          3

        
          

        

      

      
         

      

    

    

    1. Legends.
      Such
      Holder understands and agrees that the certificates evidencing the Conversion
      Shares and Interest Shares shall bear a legend in substantially the form as
      follows (in addition to any legend required by any other applicable agreement
      or
      under applicable state securities laws):

    

    “THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE
      NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED, OR THE SECURITIES LAWS OF
      ANY
      STATE, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED,
      PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
      REGISTERED UNDER SUCH ACT AND/OR APPLICABLE
      STATE SECURITIES LAWS, OR UNLESS THE COMPANY
      HAS RECEIVED AN OPINION OF COUNSEL OR OTHER
      EVIDENCE, REASONABLY SATISFACTORY TO THE
      COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION
      IS NOT REQUIRED.”

    

     

    

    IN WITNESS
      WHEREOF, the parties have caused this Agreement to be duly executed by parties
      duly authorized to act as of the day and year first above written.

    

    PHANTOM
      ENTERTAINMENT, INC.

    

    

    By:
      /s/
      Greg
      Koler                                     

    Greg
      Koler

    Chief
      Executive Officer

    

    

    /s/
      Timothy
      Roberts                                 

    Timothy
      Roberts

     

     

    
      
         

      

      
        Page
          4

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