Document:

EXHIBIT
        10.13

       

      THIS
        WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT
        BEEN
        REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER
        THE SECURITIES LAWS OF APPLICABLE STATES. THESE SECURITIES ARE SUBJECT TO
        RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR
        RESOLD
        EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS,
        PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE
        THAT
        THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN
        INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN
        OPINION
        OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT
        THAT
        ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE
        STATE SECURITIES LAWS.

       

      WARRANT
        TO PURCHASE COMMON STOCK

      OF

      ARIEL
        WAY, INC.

       

      Issued
        on
        May 28, 2005 (“Issue
        Date”)

      Void
        after May 29, 2010 (“Expiration
        Date”)

       

      This
        certifies that in consideration of the execution of that certain initial
        warrant
        agreement (the “Warrant
        Agreement”),
        dated
        as of May 28, 2005, as amended, by and between Ariel Way, Inc., a Florida
        corporation (the “Company”),
        with
        principal offices at 8000 Towers Crescent Drive, Suite 1220, Vienna, VA 22182,
        and Oberon Securities, LLC, a Delaware company, with principal offices at
        79
        Madison Avenue, 6th
        Floor,
        New York, NY 10016 (“Oberon”)
        is
        entitled, subject to the terms and conditions of this Warrant, to purchase
        from
        the Company at any time during the Exercise Period (as defined below), up
        to One
        Million (1,000,000) shares (the “Number
        of Shares”)
        of
        Warrant Stock (as defined below) at a price per share equal to the Warrant
        Price
        (as defined below), upon surrender of this Warrant at the principal offices
        of
        the Company, together with a duly executed subscription form in the form
        attached hereto as Exhibit 1
        and
        simultaneous payment of the full Warrant Price for the shares of Warrant
        Stock
        so purchased in lawful money of the United States or cancellation of
        indebtedness of the Company to the Warrant Holder of the same equal amount,
        at
        the option of Oberon. The Warrant Price and the number and character of shares
        of Warrant Stock purchasable under this Warrant are subject to adjustment
        as
        provided herein. The shares underlying the warrants shall entitle the Warrant
        Holder to one-time “piggyback” registration rights.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      1. DEFINITIONS.
        The
        following definitions shall apply for purposes of this Warrant:

       

      1.1 “Company”
means
        the “Company”
as
        defined above and includes any corporation which shall succeed to or assume
        the
        obligations of the Company under this Warrant.

       

      1.2 “Exercise
        Period”
means
        the period (A) commencing on the Issue Date and (B) ending at 5:00 p.m. Eastern
        Standard Time on the Expiration Date (as defined on the first page of this
        Warrant, and as subject to adjustment as provided herein).

       

      1.3 “SEC”
means
        the U.S. Securities and Exchange Commission.

       

      1.4 “Warrant”
means
        this Warrant and any warrant(s) delivered in substitution or exchange therefor,
        as provided herein.

       

      1.5 “Warrant
        Holder”
means
        any person who shall at the time be the registered holder of this
        Warrant.

       

      1.6 “Warrant
        Price”
means
        $0.06 per share. The Warrant Price is subject to adjustment as provided
        herein.

       

      1.7 “Warrant
        Stock”
means
        the Common Stock of the Company, $0.001 par value per share. The number and
        character of shares of Warrant Stock are subject to adjustment as provided
        herein and the term “Warrant
        Stock”
shall
        include stock and other securities and property at any time receivable or
        issuable upon exercise of this Warrant in accordance with its
        terms.

       

      2. EXERCISE.

       

      2.1 Method
        of Exercise.
        Subject
        to the terms and conditions of this Warrant, the Warrant Holder may exercise
        this Warrant in whole or in part, at any time or from time to time, on any
        business day during the Exercise Period, for up to that number of shares
        of
        Warrant Stock that has vested pursuant to Section 2.2 below by surrendering
        this
        Warrant at the principal offices of the Company, with the subscription form
        attached hereto duly executed by the Warrant Holder, and payment
        of an amount equal to the product
        obtained by multiplying (i) the number of shares of Warrant Stock to be
        purchased by the Warrant Holder by (ii) the Warrant Price or adjusted
        Warrant Price therefor, if applicable, as determined in accordance with the
        terms hereof or cancellation of indebtedness of the Company to the Warrant
        Holder of the same equal amount at the option of the Warrant Holder.
The
        Warrant Holder shall also have a “cash-less” exercise option such that
        exercising certain number of shares of Warrant Stock and the sales proceeds
        from
        the sale of such shares shall provide for the payment to the Company of an
        amount equal to the total warrant purchase price as defined above.

       

      2.2 Vesting
        and Exercisability of Warrant.
        This
        Warrant shall be fully vested and immediately exercisable as to One Million
        (1,000,000) shares of Warrant Stock as of the date hereof. 

       

      2.3 Form
        of Payment.
        Payment
        may be made by (i) a check payable to the Company’s order, (ii) wire
        transfer of funds to the Company, (iii) cancellation of indebtedness of the
        Company to the Warrant Holder, or (iv) any combination of the
        foregoing.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      2.4 Partial
        Exercise. Upon
        a
        partial exercise of this Warrant, this Warrant shall be surrendered by the
        Warrant Holder and replaced with a new Warrant of like tenor in which the
        Number
        of Shares shall be reduced by the number of shares of Warrant Stock purchased
        upon such exercise.

       

      2.5 No
        Fractional Shares.
        No
        fractional shares may be issued upon any exercise of this Warrant, and any
        fractions shall be rounded down to the nearest whole number of shares. If
        upon
        any exercise of this Warrant a fraction of a share results, the Company will
        pay
        the cash value of any such fractional share, calculated on the basis of the
        Warrant Price.

       

      2.6 Restrictions
        on Exercise.
        This
        Warrant may not be exercised if the issuance of the Warrant Stock upon such
        exercise would constitute a violation of any applicable federal or state
        securities laws or other laws or regulations. As a condition to the exercise
        of
        this Warrant, the Warrant Holder shall execute the subscription form attached
        hereto as Exhibit 1,
        confirming and acknowledging that the representations and warranties of the
        Warrant Holder set forth in Section 5 are true and correct as of the date
        of exercise.

       

      3. ISSUANCE
        OF STOCK.
        This
        Warrant shall be deemed to have been exercised immediately prior to the close
        of
        business on the date of its surrender for exercise as provided above, and
        the
        person entitled to receive the shares of Warrant Stock issuable upon such
        exercise shall be treated for all purposes as the holder of record of such
        shares as of the close of business on such date. As soon as practicable on
        or
        after such date, the Company shall issue and deliver to the person or persons
        entitled to receive the same a certificate or certificates for the number
        of
        whole shares of Warrant Stock issuable upon such exercise.

       

      4. ADJUSTMENT
        PROVISIONS.
        The
        number and character of shares of Warrant Stock issuable upon exercise of
        this
        Warrant (or any shares of stock or other securities or property at the time
        receivable or issuable upon exercise of this Warrant) and the Warrant Price
        therefor, are subject to adjustment upon the occurrence of the following
        events
        between the date this Warrant is issued and the date it is
        exercised:

       

      4.1 Adjustment
        for Stock Splits and Stock Dividends.
        The
        Warrant Price of this Warrant and the Number of Shares of Warrant Stock issuable
        upon exercise of this Warrant (or any shares of stock or other securities
        at the
        time issuable upon exercise of this Warrant) shall each be proportionally
        adjusted to reflect any stock dividend, stock split or reverse stock split,
        or
        other similar event affecting the number of outstanding shares of Warrant
        Stock
        (or such other stock or securities). 

       

      4.2 Adjustment
        for Other Dividends and Distributions.
        In case
        the Company shall make or issue, or shall fix a record date for the
        determination of eligible holders entitled to receive, a dividend or other
        distribution payable respect to the Warrant Stock that is payable in
        (a) securities of the Company (other than issuances with respect to which
        adjustment is made under Sections 4.1 or 4.3) or (b) assets (other
        than cash dividends paid or payable solely out of retained earnings), then,
        and
        in each such case, the Warrant Holder, upon exercise of this Warrant at any
        time
        after the consummation, effective date or record date of such event, shall
        receive, in addition to the shares of Warrant Stock issuable upon such exercise
        prior to such date, the securities or such other assets of the Company to
        which
        the Warrant Holder would have been entitled upon such date if the Warrant
        Holder
        had exercised this Warrant immediately prior thereto (all subject to further
        adjustment as provided in this Warrant).

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      4.3 Adjustment
        for Reorganization, Consolidation, Merger.
        In case
        of any recapitalization or reorganization of the Company after the date of
        this
        Warrant, or in case, after such date, the Company shall consolidate with
        or
        merge into another corporation, then, and in each such case, the Warrant
        Holder,
        upon the exercise of this Warrant (as provided in Section 2), at any time
        after the consummation of such recapitalization, reorganization, consolidation
        or merger, shall be entitled to receive, in lieu of the stock or other
        securities and property receivable upon the exercise of this Warrant prior
        to
        such consummation, the stock or other securities or property to which the
        Warrant Holder would have been entitled upon the consummation of such
        recapitalization, reorganization, consolidation or merger if the Warrant
        Holder
        had exercised this Warrant immediately prior thereto, all subject to further
        adjustment as provided in this Warrant, and the successor or purchasing
        corporation in such reorganization, consolidation or merger (if other than
        the
        Company) shall duly execute and deliver to the Warrant Holder a supplement
        hereto acknowledging such corporation’s obligations under this Warrant; and in
        each such case, the terms of this Warrant shall be applicable to the shares
        of
        stock or other securities or property receivable upon the exercise of this
        Warrant after the consummation of such reorganization, consolidation or
        merger.

       

      4.4 Conversion
        of Stock.
        In case
        all the authorized Common Stock of the Company is converted, pursuant to
        the
        Company’s Certificate of Incorporation, into other securities or property, or
        the Common Stock otherwise ceases to exist, then, in such case, the Warrant
        Holder, upon exercise of this Warrant at any time after the date on which
        the
        Common Stock is so converted or ceases to exist (the “Termination
        Date”),
        shall
        receive, in lieu of the number of shares of Common Stock that would have
        been
        issuable upon such exercise immediately prior to the Termination Date (the
        “Former
        Number of Shares of Warrant Stock”),
        the
        stock and other securities and property which the Warrant Holder would have
        been
        entitled to receive upon the Termination Date if the Warrant Holder had
        exercised this Warrant with respect to the Former Number of Shares of Warrant
        Stock immediately prior to the Termination Date (all subject to further
        adjustment as provided in this Warrant).

       

      4.5 Notice
        of Adjustments.
        The
        Company shall promptly give written notice of each adjustment or readjustment
        of
        the Warrant Price or the number of shares of Warrant Stock or other securities
        issuable upon exercise of this Warrant. The notice shall describe the adjustment
        or readjustment and show in reasonable detail the facts on which the adjustment
        or readjustment is based.

       

      4.6 No
        Change Necessary.
        The
        form of this Warrant need not be changed because of any adjustment in the
        Warrant Price or in the number of shares of Warrant Stock issuable upon its
        exercise.

       

      4.7 Reservation
        of Stock.
        If at
        any time the number of shares of Warrant Stock or other securities issuable
        upon
        exercise of this Warrant shall not be sufficient to effect the exercise of
        this
        Warrant, the Company will take such corporate action as may, in the opinion
        of
        its counsel, be necessary to increase its authorized but unissued shares
        of
        Warrant Stock or other securities issuable upon exercise of this Warrant
        as
        shall be sufficient for such purpose.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      5. REPRESENTATIONS
        AND WARRANTIES OF WARRANT HOLDER.
        Warrant
        Holder represents and warrants to the Company as follows:

       

      5.1 Purchase
        for Own Account for Investment.
        Warrant
        Holder is purchasing the Warrant Stock for Warrant Holder’s own account for
        investment purposes only and not with a view to, or for sale in connection
        with,
        a distribution of the Warrant Stock within the meaning of the Securities
        Act of
        1933, as amended (the “1933
        Act”).
        Warrant Holder has no present intention of selling or otherwise disposing
        of all
        or any portion of the Warrant Stock and no one other than Warrant Holder
        has any
        beneficial ownership of any of the Warrant Stock.

       

      5.2 Access
        to Information.
        Warrant
        Holder has had access to all information regarding the Company and its present
        and prospective business, assets, liabilities and financial condition that
        Warrant Holder reasonably considers important in making the decision to purchase
        the Warrant Stock, and Warrant Holder has had ample opportunity to ask questions
        of the Company’s representatives concerning such matters and this
        investment.

       

      5.3 Understanding
        of Risks.
        Warrant
        Holder is fully aware of: (a) the highly speculative nature of the
        investment in the Warrant Stock; (b) the financial hazards involved;
        (c) the lack of liquidity of the Warrant Stock and the restrictions on
        transferability of the Warrant Stock (e.g.,
        that
        Warrant Holder may not be able to sell or dispose of the Warrant Stock or
        use
        them as collateral for loans); (d) the qualifications and backgrounds of
        the
        management of the Company; and (e) the tax consequences of investment in
        the
        Warrant Stock.

       

      5.4 Warrant
        Holder’s Qualifications.
        Warrant
        Holder has a preexisting personal or business relationship with the Company
        and/or certain of its officers and/or directors of a nature and duration
        sufficient to make Warrant Holder aware of the character, business acumen
        and
        general business and financial circumstances of the Company and/or such officers
        and directors. By reason of Warrant Holder’s business or financial experience,
        Warrant Holder is capable of evaluating the merits and risks of this investment,
        has the ability to protect Warrant Holder’s own interests in this transaction
        and is financially capable of bearing a total loss of this
        investment.

       

      5.5 No
        General Solicitation.
        At no
        time was Warrant Holder presented with or solicited by any publicly issued
        or
        circulated newspaper, mail, radio, television or other form of general
        advertising or solicitation in connection with the offer, sale and purchase
        of
        the Warrant Stock.

       

      5.6 Compliance
        with Securities Laws.
        Warrant
        Holder understands and acknowledges that, in reliance upon the representations
        and warranties made by Warrant Holder herein, the Warrant Stock are not
        being registered with the SEC under the 1933 Act, but instead are being issued
        under an exemption or exemptions from the registration and qualification
        requirements of the 1933 Act which impose certain restrictions on Warrant
        Holder’s ability to transfer the Warrant Stock.

       

      5.7 Restrictions
        on Transfer.
        Warrant
        Holder understands that Warrant Holder may not transfer any Warrant Stock
        unless
        such Warrant Stock is registered under the 1933 Act or other applicable state
        securities laws or unless, in the opinion of counsel to the Company, exemptions
        from such registration and qualification requirements are available. Warrant
        Holder understands that only the Company may file a registration statement
        with
        the SEC. Warrant Holder has also been advised that exemptions from registration
        and qualification may not be available or may not permit Warrant Holder to
        transfer all or any of the Warrant Stock in the amounts or at the times proposed
        by Warrant Holder.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      5.8 Legends.
        It is
        understood that the certificates evidencing the Warrant Stock and the Common
        Stock issuable upon exercise thereof, will bear the legend set forth
        below:

       

      THE
        SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
        ACT
        OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY OTHER
        JURISDICTIONS. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY
        AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER
        THE
        ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR
        EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED
        TO BEAR
        THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.
        THE
        ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND
        SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER
        OR
        RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES
        LAWS.

       

      6. NO
        RIGHTS OR LIABILITIES AS STOCKHOLDER.
        This
        Warrant does not by itself entitle the Warrant Holder to any voting rights
        or
        other rights as a shareholder of the Company. In the absence of affirmative
        action by the Warrant Holder to purchase Warrant Stock by exercise of this
        Warrant, no provisions of this Warrant, and no enumeration herein of the
        rights
        or privileges of the Warrant Holder, shall cause the Warrant Holder to be
        a
        shareholder of the Company for any purpose.

       

      7. NO
        IMPAIRMENT.
        The
        Company will not, by amendment of its Certificate of Incorporation or Bylaws,
        or
        through reorganization, consolidation, merger, dissolution, issue or sale
        of
        securities, sale of assets or any other voluntary action, willfully avoid
        or
        seek to avoid the observance or performance of any of the terms of this Warrant,
        but will at all times in good faith assist in the carrying out of all such
        terms
        and in the taking of all such action as may be necessary or appropriate in
        order
        to protect the rights of the holder against wrongful impairment. Without
        limiting the generality of the foregoing, the Company will take all such
        action
        as may be necessary or appropriate in order that the Company may duly and
        validly issue fully paid and nonassessable shares of Warrant Stock upon the
        exercise of this Warrant.

       

      8. ATTORNEYS’
        FEES.
        In
        the
        event any party is required to engage the services of any attorneys for the
        purpose of enforcing this Warrant, or any provision thereof, the prevailing
        party shall be entitled to recover its reasonable expenses and costs in
        enforcing this Warrant, including attorneys’ fees.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      9. TRANSFER.
        Neither
        this Warrant nor any rights hereunder may be assigned, conveyed or transferred,
        in whole or in part, without the Company’s prior written consent, which the
        Company may withhold in its sole discretion. The rights and obligations of the
        Company and the Warrant Holder under this Warrant shall be binding upon and
        benefit their respective permitted successors, assigns, heirs, administrators
        and transferees.

       

      10. GOVERNING
        LAW.
        This
        Warrant shall be governed by and construed under the internal laws of the
        State
        of Delaware as applied to agreements among Delaware residents entered into
        and
        to be performed entirely within Delaware, without reference to principles
        of
        conflict of laws or choice of laws.

       

      11. HEADINGS.
        The
        headings and captions used in this Warrant are used only for convenience
        and are
        not to be considered in construing or interpreting this Warrant. All references
        in this Warrant to sections and exhibits shall, unless otherwise provided,
        refer
        to sections hereof and exhibits attached hereto, all of which exhibits are
        incorporated herein by this reference.

       

      12. NOTICES.
        Unless
        otherwise provided, any notice required or permitted under this Agreement
        shall
        be given in writing and shall be deemed effectively given (i) at the time
        of personal delivery, if delivery is in person; (ii) one (1) business day
        after deposit with an express overnight courier for United States deliveries,
        or
        two (2) business days after such deposit for deliveries outside of the United
        States, with proof of delivery from the courier requested; or (iii) three
        (3) business days after deposit in the United States mail by certified mail
        (return receipt requested) for United States deliveries when addressed to
        the
        party to be notified at the address indicated for such party in the first
        paragraph of this Warrant or, in the case of the Company, at 8000 Towers
        Crescent Drive, Suite 1220, Vienna, VA 22182, or at such other address as
        any
        party or the Company may designate by giving ten (10) days’ advance written
        notice to all other parties.

       

      13. AMENDMENT;
        WAIVER. Any
        term
        of this Warrant may be amended, and the observance of any term of this Warrant
        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 Warrant Holder. Any amendment or waiver effected in accordance with this
        Section shall be binding upon the Warrant Holder, each future holder of such
        securities, and the Company.

       

      14. SEVERABILITY.
        If one
        or more provisions of this Warrant are held to be unenforceable under applicable
        law, such provision(s) shall be excluded from this Warrant and the balance
        of
        the Warrant shall be interpreted as if such provision(s) were so excluded
        and
        shall be enforceable in accordance with its terms.

       

      15. TERMS
        BINDING.
        By
        acceptance of this Warrant, the Warrant Holder accepts and agrees to be bound
        by
        all the terms and conditions of this Warrant.

       

      16. COUNTERPARTS.
        This
        Warrant may be executed in any number of counterparts, each of which when
        so
        executed and delivered will be deemed an original, and all of which together
        shall constitute one and the same agreement.

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the
        parties hereto have executed this Warrant as of the date first above
        written.

       

      
        	THE
                COMPANY: 	 	 
	 	
              
	
                ARIEL
                  WAY, INC.

                 

                 

              	 
 	 
 
	By: 	 	 
	
                
                  
 

              	
              
	
                Name: 
                  Arne
                  Dunhem

              	
              
	
                
                  
 

              	 
	
                Title:
                    President
                  and CEO

              	 
	
                
                  
 

                 

              	 

      

      AGREED
        AND ACKNOWLEDGED

       

      
        THE
          HOLDER:

         

        
          OBERON
            SECURITIES, LLC

          

          

        

        
        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT 1

       

      FORM
        OF SUBSCRIPTION

      (To
        be signed only upon exercise of Warrant)

       

      To:
        Ariel
        Way, Inc.

       

      (1) The
        undersigned Warrant Holder hereby elects to purchase     
          
        shares
        of Common Stock of Ariel Way, Inc. (the “Warrant
        Stock”),
        pursuant to the terms of the attached Warrant, and tenders herewith payment
        of
        the purchase price for such shares in full or accepts cancellation of
        indebtedness of the Company to the Warrant Holder of the same equal
        amount.

       

      (2) In
        exercising the Warrant, the undersigned Warrant Holder hereby confirms and
        acknowledges that the representations and warranties set forth in
        Section __ of the Warrant as they apply to the undersigned Warrant Holder
        continue to be true and correct as of this date. 

       

      (3) Please
        issue a certificate or certificates representing such shares of Warrant Stock
        in
        the name specified below:

       

      
        	 	 	
                
                  

                

                
                  (Name)

                

              
	 	 
	 
 	 
 	
                

                (Address)
 

                

                (City,
                  State, Zip Code)

              
	
              	 	 
	 	
                

                (Federal
                  Tax Identification Number)

              
	 	
                 

                
                  

                

                (Date)Exhibit
      10.3

    PREFERRED
      STOCK PURCHASE AGREEMENT

    

    BETWEEN

    

    LAB123,
      INC.

    

    AND

    

    BARRON
      PARTNERS LP

    

    DATED

    

    SEPTEMBER
      6, 2006

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    PREFERRED
      STOCK PURCHASE AGREEMENT

     

    This
      PREFERRED STOCK PURCHASE AGREEMENT (the "Agreement")
      is
      made and entered into as of the 6th day of September, 2006 between LAB123,
      Inc., a
      corporation organized and existing under the laws of the State of Delaware
      (“Lab123”
      or the “Company”)
      and
BARRON
      PARTNERS LP, a
      Delaware limited partnership (“Investor”).

     

    PRELIMINARY
      STATEMENT:

     

    WHEREAS,
      the
      Investor wishes to purchase from the Company, upon the terms and subject to
      the
      conditions of this Agreement, Three Million Seven Hundred Seventy-Four Thousand
      (3,774,000) shares of preferred stock of the Company, with such preferred stock
      being as described in the Certificate of Designations, Rights and Preferences
      (the “Certificate
      of Designations”)
      in
      substantially the form attached hereto as Exhibit
      A
      (the
“Preferred
      Stock”)
      for the
      Purchase Price set forth in Section 1.3.13 hereof. Subject to the limitations
      set forth herein and in the Certificate of Designations, the Preferred Stock
      shall be initially convertible into shares of common stock of the Company at
      any
      time at a conversion price of Fifty-Three Cents ($0.53) per share (the
“Conversion
      Value”).
      In
      addition, the Company will issue to the Investor two five year Common Stock
      Purchase Warrants, substantially in the form of Exhibits
      B and C
      (the
“Warrants”),
      the
      first of which shall be for the purchase of an aggregate of 1,887,000 shares
      at
      an initial exercise price of $.80 per share and the second of which shall be
      for
      the purchase of an aggregate of 1,887,000 shares at an initial exercise price
      of
      $1.10 per share; and 

     

    WHEREAS,
      the
      parties intend to memorialize the purchase and sale of such Preferred Stock
      and
      the Warrants.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants and premises contained herein, and for
      other good and valuable consideration, the receipt and adequacy of which are
      hereby conclusively acknowledged, the parties hereto, intending to be legally
      bound, agree as follows:

     

    ARTICLE
      I

     

    INCORPORATION
      BY REFERENCE, SUPERSEDER AND DEFINITIONS

     

    1.1 Incorporation
      by Reference.
      The
      foregoing recitals and the Exhibits and Schedules attached hereto and referred
      to herein, are hereby acknowledged to be true and accurate, and are incorporated
      herein by this reference.

     

    
      
         

      

      
        
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    1.2 Supersede.
      This
      Agreement, to the extent that it is inconsistent with any other instrument
      or
      understanding among the parties governing the affairs of the Company, shall
      supersede such instrument or understanding to the fullest extent permitted
      by
      law. A copy of this Agreement shall be filed at the Company’s principal
      office.

     

    1.3 Certain
      Definitions.
      For
      purposes of this Agreement, the following capitalized terms shall have the
      following meanings (all capitalized terms used in this Agreement that are not
      defined in this Article 1 shall have the meanings set forth elsewhere in this
      Agreement):

     

    1.3.1 “1933
      Act”
means
      the Securities Act of 1933, as amended.

     

    1.3.2 “1934
      Act”
means
      the Securities Exchange Act of 1934, as amended.

     

    1.3.3 “Affiliate”
means
      a
      Person or Persons directly or indirectly, through one or more intermediaries,
      controlling, controlled by or under common control with the Person(s) in
      question. The term “control,” as used in the immediately preceding sentence,
      means, with respect to a Person that is a corporation, the right to the
      exercise, directly or indirectly, of more than 50 percent of the voting rights
      attributable to the shares of such controlled corporation and, with respect
      to a
      Person that is not a corporation, the possession, directly or indirectly, of
      the
      power to direct or cause the direction of the management or policies of such
      controlled Person.

     

    1.3.4 “Articles”
means
      the Certificate of Incorporation of the Company, as the same may be amended
      from
      time to time. 

     

    1.3.5 “Closing”
      shall
      mean the Closing of the transactions contemplated by this Agreement on the
      Closing Date.

     

    1.3.6 “Closing
      Date”
means
      the date on which the payment of the Purchase Price (as defined herein) by
      the
      Investor to the Company is completed pursuant to this Agreement to purchase
      the
      Preferred Stock and Warrants, which shall occur on or before September 6,
      2006.

     

    1.3.7 “Common
      Stock”
means
      shares of common stock of the Company, par value $0.001 per share. 

     

    1.3.8 "Escrow
      Agreement"
      shall
      mean the Escrow Agreement among the Company, the Investor and Sichenzia Ross
      Friedman Ference LLP, as Escrow Agent, attached hereto as Exhibit
      E.

     

    1.3.9 "Exempt
      Issuance"
      means
      the issuance of (a) shares of Common Stock or options to employees, officers,
      or
      directors of the Company pursuant to any stock or option plan duly adopted
      by a
      majority of the non-employee members of the Board of Directors of the Company
      or
      a majority of the members of a committee of non-employee directors established
      for such purpose, (b) securities upon the exercise of or conversion of any
      securities issued hereunder, and (c) securities issued pursuant to acquisitions
      or strategic transactions, provided any such issuance shall only be to a Person
      which is, itself or through its subsidiaries, an operating company in a business
      synergistic with the business of the Company and in which the Company receives
      benefits in addition to the investment of funds, but shall not include a
      transaction in which the Company is issuing securities primarily for the purpose
      of raising capital or to an entity whose primary business is investing in
      securities.

    
       

      
        
           

        

        
          
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    1.3.10 "Material
      Adverse Effect"
      shall
      mean any adverse effect on the business, operations, properties or financial
      condition of the Company that is material and adverse to the Company and its
      subsidiaries and affiliates, taken as a whole and/or any condition,
      circumstance, or situation that would prohibit or otherwise materially interfere
      with the ability of the Company to perform any of its material obligations
      under
      this Agreement or the Registration Rights Agreement or to perform its
      obligations under any other material agreement.

     

    1.3.11 “Delaware
      Act”
means
      the Delaware General Corporation Law, as amended.

     

    1.3.12 “Person”
means
      an individual, partnership, firm, limited liability company, trust, joint
      venture, association, corporation, or any other legal entity.

     

    1.3.13 “Purchase
      Price”
means
      the Two Million ($2,000,000.00) dollars paid by the Investor to the Company
      for
      the Preferred Stock and the Warrants.

     

    1.3.14 “Registration
      Rights Agreement"
      shall
      mean the registration rights agreement between the Investor and the Company
      attached hereto as Exhibit
      D.

     

    1.3.15 "Registration
      Statement"
      shall
      mean the registration statement under the 1933 Act to be filed with the SEC
      for
      the registration of the Shares pursuant to the Registration Rights Agreement
      attached hereto as Exhibit
      D.

     

    1.3.16 “SEC”
means
      the Securities and Exchange Commission.

     

    1.3.17 "SEC
      Documents"
      shall
      mean the Company's latest Form 10-K or 10-KSB as of the time in question, all
      Forms 10-Q or 10-QSB and 8-K filed thereafter, and the Proxy Statement for
      its
      latest fiscal year as of the time in question until such time as the Company
      no
      longer has an obligation to maintain the effectiveness of a Registration
      Statement as set forth in the Registration Rights Agreement.

     

    1.3.18
      "Shares"
      shall
      mean, collectively, the shares of Common Stock of the Company issued upon
      conversion of the Preferred Stock subscribed for hereunder and those shares
      of
      Common Stock issuable to the Investor upon exercise of the
      Warrants.

     

    1.3.19
      “Subsequent
      Financing”
shall
      mean any offer and sale of shares of Preferred Stock or debt that is initially
      convertible into shares of Common Stock or otherwise senior or superior to
      the
      Preferred Stock.

     

    1.3.20
      “Transaction
      Documents”
shall
      mean this Agreement, all Schedules and Exhibits attached hereto and all other
      documents and instruments to be executed and delivered by the parties in order
      to consummate the transactions contemplated hereby, including, but not limited
      to, the documents listed in Sections 3.2 and 3.3 hereof.

    
       

      
        
           

        

        
          
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    1.3.21 “Warrants”
shall
      mean the Common Stock Purchase Warrants in the form attached hereto as
Exhibits
      B and C.

     

    ARTICLE
      II

    

    SALE
      AND PURCHASE OF PREFERRED STOCK AND WARRANTS 

    2.1Sale
      of Preferred Stock and Issuance of Warrants. 

    

    (a) Upon
      the
      terms and subject to the conditions set forth herein, and in accordance with
      applicable law, the Company agrees to sell to the Investor, and the Investor
      agrees to purchase from the Company, on the Closing Date 3,774,000 shares of
      Preferred Stock and the Warrants for the aggregate purchase price (the
“Purchase
      Price”)
      of Two
      Million Dollars ($2,000,000.00). The Purchase Price shall be paid by the
      Investor to the Company on the Closing Date by a wire transfer or check of
      the
      Purchase Price into escrow to be held by the escrow agent pursuant to the terms
      of the Escrow Agreement. The Company shall cause the Preferred Stock and the
      Warrants to be issued to the Investor at the Closing upon the release of the
      Purchase Price to the Company. by the escrow agent pursuant to the terms of
      the
      Escrow Agreement. The Company shall register the shares of Common Stock into
      which the Preferred Stock is convertible pursuant to the terms and conditions
      of
      a Registration Rights Agreement attached hereto as Exhibit
      D.

     

    (b) Each
      share of Preferred Stock shall initially be convertible by the Investor into
      one
      (1) share of Common Stock; provided, however, that the Investor shall not be
      entitled to convert the Preferred Stock into shares of Common Stock that would
      result in beneficial ownership by the Investor and its affiliates of more than
      4.9% of the then outstanding number of shares of Common Stock on such date.
      For
      the purposes of 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.

     

    (c) Upon
      execution and delivery of this Agreement and the Company’s receipt of the
      Purchase Price from the Escrow Agent pursuant to the terms of the Escrow
      Agreement, the Company shall issue to the Investor the Warrants to purchase
      an
      aggregate of Three Million Seven Hundred Seventy-Four Thousand shares of Common
      Stock at exercise prices as stated in the Warrants, all pursuant to the terms
      and conditions of the form of Warrants attached hereto as Exhibits
      B and C;
      provided, however, that the Investor shall not be entitled to exercise the
      Warrants and receive shares of Common Stock that would result in beneficial
      ownership by the Investor and its affiliates of more than 4.9% of the then
      outstanding number of shares of Common Stock on such date. For the purposes
      of
      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. 

    
       

      
        
           

        

        
          
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    2.2 Purchase
      Price.
      The
      Purchase Price shall be delivered by the Investor in the form of a check or
      wire
      transfer made payable to the Company in United States Dollars from the Investor
      to the escrow agent pursuant to the Escrow Agreement on the Closing
      Date.

     

    ARTICLE
      III

    

    CLOSING
      DATE AND DELIVERIES AT CLOSING

    

    3.1 Closing
      Date. The
      closing of the transactions contemplated by this Agreement (the “Closing”),
      unless expressly determined herein, shall be held at the offices of the Company,
      at 5:00 P.M. local time, on the Closing Date or on such other date and at such
      other place as may be mutually agreed by the parties, including closing by
      facsimile with originals to follow. The Closing shall be deemed to occur upon
      the delivery of the items sets forth in Section 3.2 to the respective
      parties.

    

    3.2 Deliveries
      by the Company.
      In
      addition to and without limiting any other provision of this Agreement, the
      Company agrees to deliver, or cause to be delivered, to the escrow agent under
      the Escrow Agreement, the following: 

     

    
      	
            	(a)	
              At
                or prior to Closing, an executed Agreement with all exhibits and
                schedules
                attached hereto;

            

    

    
      	
            	(b)	
              At
                or prior to Closing, executed Warrants in the name of the Investor
                in the
                forms attached hereto as Exhibits
                B and C;

            

    

    
      	
            	(c)	
              The
                executed Registration Rights
                Agreement;

            

    

    
      	
            	(d)	
              Certifications
                in form and substance acceptable to the Company and the Investor
                from any
                and all brokers or agents involved in the transactions contemplated
                hereby
                as to the amount of commission or compensation payable to such broker
                or
                agent as a result of the consummation of the transactions contemplated
                hereby and from the Company or Investor, as appropriate, to the effect
                that reasonable reserves for any other commissions or compensation
                that
                may be claimed by any broker or agent have been set
                aside;

            

    

    
      	
            	(e)	
              Management
                letter from the auditors of the Company and MD&A;
                

            

    

    
      	
            	(f)	
              Evidence
                of approval of the Board of Directors and Shareholders of the Company
                of
                the Transaction Documents and the transactions contemplated
                hereby;

            

    

    
      	
            	(g)	
              Certificate
                of the President and the Secretary of the Company that the Certificate
                of
                Designation has been adopted and
                filed;

            

    

    
      	
            	(h)	
              Certificates
                of Existence or Authority to Transact Business of the Company issued
                by
                the Secretary of State for
                Delaware;

            

    

    
    

    
       

      
        
           

        

        
          
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            	(i)	
              An
                opinion from the Company’s counsel concerning the Transaction Documents
                and the transactions contemplated hereby in form and substance reasonably
                acceptable to Investor 

            

    

    
      	
            	(j)	
              Stock
                Certificate in the name of Investor evidencing the Preferred
                Stock;

            

    

    
      	
            	(k)	
              The
                executed Escrow Agreement (an additional copy of which shall be delivered
                to the Investor at the Closing);
                and

            

    

    
      	
            	(l)	
              Copies
                of all executive employment agreements, all past and present financing
                documentation or other documentation where stock could potentially
                be
                issued or issued as payment, all past and present litigation documents
                and
                historical financials.

            

    

    
      	
            	(m)	
              Such
                other documents or certificates as shall be reasonably requested
                by
                Investor or its counsel.

            

    

     

    3.3 Deliveries
      by Investor.
      In
      addition to and without limiting any other provision of this Agreement, the
      Investor agrees to deliver, or cause to be delivered, to the escrow agent under
      the Escrow Agreement, the following: 

     

    
      	
            	(a)	
              A
                deposit in the amount of the Purchase
                Price;

            

    

    
      	
            	(b)	
              The
                executed Agreement with all Exhibits and Schedules attached
                hereto;

            

    

    
      	
            	(c)	
              The
                executed Registration Rights Agreement;

            

    

    
      	
            	(d)	
              The
                executed Escrow Agreement (an additional copy of which shall be delivered
                to the Company at the Closing); and

            

    

    
      	
            	(e)	
              Such
                other documents or certificates as shall be reasonably requested
                by the
                Company or its counsel.

            

    

     

    In
      the
      event any document provided to the other party in Paragraphs 3.2 and 3.3 herein
      are provided by facsimile, the party shall forward an original document to
      the
      other party within five (5) business days.

     

    3.4 Further
      Assurances.
      The
      Company and the Investor shall, upon request, on or after the Closing Date,
      cooperate with each other (specifically, the Company shall cooperate with the
      Investor, and the Investor shall cooperate with the Company) by furnishing
      any
      additional information, executing and delivering any additional documents and/or
      other instruments and doing any and all such things as may be reasonably
      required by the parties or their counsel to consummate or otherwise implement
      the transactions contemplated by this Agreement. 

     

    3.5 Waiver.
      The
      Investor may waive any of the requirements of Section 3.2 of this Agreement,
      and
      the Company at its discretion may waive any of the provisions of Section 3.3
      of
      this Agreement. The Investor may also waive any of the requirements of the
      Company under the Escrow Agreement.

    
       

      
        
           

        

        
          
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    ARTICLE
      IV

    

    REPRESENTATIONS
      AND WARRANTIES OF 

    THE
      COMPANY

    

    The
      Company represents and warrants to the Investor as of the date hereof and as
      of
      Closing (which warranties and representations shall survive the Closing
      regardless of what examinations, inspections, audits and other investigations
      the Investor has heretofore made or may hereinafter make with respect to such
      warranties and representations) as follows: 

     

    4.1 Organization
      and Qualification.
      The
      Company is a corporation duly organized, validly existing and in good standing
      under the laws of the State of Delaware, and has the requisite corporate power
      and authority to own, lease and operate its properties and to carry on its
      business as it is now being conducted and is duly qualified to do business
      in
      any other jurisdiction by virtue of the nature of the businesses conducted
      by it
      or the ownership or leasing of its properties, except where the failure to
      be so
      qualified will not, when taken together with all other such failures, have
      a
      Material Adverse Effect on the business, operations, properties, assets,
      financial condition or results of operation of the Company and its subsidiaries
      taken as a whole.

     

    4.2 Articles
      of Incorporation and By-Laws.
      The
      complete and correct copies of the Company’s Articles and By-Laws, as amended or
      restated to date, are complete and correct copies of such documents as in effect
      on the date hereof and will also be such as of the Closing Date.

     

    4.3 Capitalization.

     

    4.3.1 As
      of the
      date of this Agreement, the authorized capital stock of the Company consists
      of
      15,000,000 shares of Common Stock,$.001 par value per share (“Common Stock”) and
      6,000,000 shares of Preferred Stock, $.001 par value per share (“Preferred
      Stock”), of which no shares of Common Stock and no shares of Preferred Stock are
      issued and outstanding on the date hereof. As of Closing, following the issuance
      by the Company of the Preferred Stock to the Investor, the authorized capital
      stock of the Company will consist of 15,000,000 shares of Common Stock and
      6
      million shares of Preferred Stock of which approximately 7,825,000 shares of
      Common Stock and 3,774,000 shares of Preferred Stock shall be issued and
      outstanding. As of the date hereof there no outstanding options, warrants or
      other securities exercisable or exchangeable for or convertible into, Common
      Stock. As of the Closing, except for the Warrants to be issued to the Investor,
      there will be no outstanding options, warrants or other securities exercisable
      or exchangeable for or convertible into, Common Stock All outstanding shares
      of
      capital stock have been duly authorized and are validly issued, and are fully
      paid and nonassessable and free of preemptive rights. All shares of capital
      stock described above to be issued have been duly authorized and when issued,
      will be validly issued, fully paid and nonassessable and free of preemptive
      rights. Schedule 4.3 contains all shares and derivatives currently and
      potentially outstanding. The Company hereby represents that any and all shares
      and current potentially dilutive events have been included in Schedule 4.3.,
      including employment agreements, acquisition, consulting agreements, debts,
      payments, financing or business relationships that could be paid in equity,
      derivatives or resulting in additional equity issuances that could potentially
      occur.

    
       

      
        
           

        

        
          
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    4.3.2
      Except pursuant to this Agreement and as set forth in Schedule 4.3 hereto,
      as of
      the date hereof and as of the Closing Date, there are not now outstanding
      options, warrants, rights to subscribe for, calls or commitments of any
      character whatsoever relating to, or securities or rights convertible into
      or
      exchangeable for, shares of any class of capital stock of the Company, or
      agreements, understandings or arrangements to which the Company is a party,
      or
      by which the Company is or may be bound, to issue additional shares of its
      capital stock or options, warrants, scrip or rights to subscribe for, calls
      or
      commitment of any character whatsoever relating to, or securities or rights
      convertible into or exchangeable for, any shares of any class of its capital
      stock. The Company agrees to inform the Investors in writing of any additional
      warrants granted prior to the Closing Date.

     

    4.3.3
      The
      Company on the Closing Date (i) will have full right, power, and authority
      to
      sell, assign, transfer, and deliver, by reason of record and beneficial
      ownership, to the Investor, the Preferred Stock hereunder, free and clear of
      all
      liens, charges, claims, options, pledges, restrictions, and encumbrances
      whatsoever; and (ii) upon conversion of the Preferred Stock or exercise of
      the
      Warrants, the Investor will acquire good and marketable title to the Shares
      ,
      free and clear of all liens, charges, claims, options, pledges, restrictions,
      and encumbrances whatsoever, except as otherwise provided in this Agreement
      as
      to the limitation on the voting rights of such Shares in certain
      circumstances.

     

    4.4 Authority.
      The
      Company has all requisite corporate power and authority to execute and deliver
      this Agreement, the Preferred Stock, and the Warrants, to perform its
      obligations hereunder and thereunder and to consummate the transactions
      contemplated hereby and thereby. The execution and delivery of this Agreement
      by
      the Company and the consummation of the transactions contemplated hereby have
      been duly authorized by all necessary corporate action and no other corporate
      proceedings on the part of the Company is necessary to authorize this Agreement
      or to consummate the transactions contemplated hereby, except as disclosed
      in
      this Agreement. This Agreement has been duly executed and delivered by the
      Company and constitutes the legal, valid and binding obligation of the Company,
      enforceable against the Company in accordance with its terms.

     

    4.5 No
      Conflict; Required Filings and Consents.
      The
      execution and delivery of this Agreement by the Company does not, and the
      performance by the Company of their respective obligations hereunder will not:
      (i) conflict with or violate the Articles or By-Laws of the Company; (ii)
      conflict with, breach or violate any federal, state, foreign or local law,
      statute, ordinance, rule, regulation, order, judgment or decree (collectively,
      "Laws")
      in
      effect as of the date of this Agreement and applicable to the Company; or (iii)
      result in any breach of, constitute a default (or an event that with notice
      or
      lapse of time or both would become a default) under, give to any other entity
      any right of termination, amendment, acceleration or cancellation of, require
      payment under, or result in the creation of a lien or encumbrance on any of
      the
      properties or assets of the Company pursuant to, any note, bond, mortgage,
      indenture, contract, agreement, lease, license, permit, franchise or other
      instrument or obligation to which the Company is a party or by the Company
      or
      any of its properties or assets is bound. Excluding from the foregoing are
      such
      violations, conflicts, breaches, defaults, terminations, accelerations,
      creations of liens, or incumbency that would not, in the aggregate, have a
      Material Adverse Effect.

    
      
         

        
          
             

          

          
            
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    4.6 Audited
      Report and Financial Statements.
      The
      Company will provide to the Investor the audited financial statements of the
      Company as of August 31, 2006 and for the period from inception of the Company
      to August 31, 2006 (collectively, the “Financial
      Statements”)
      prior
      to the release of funds by the escrow agent pursuant to the Escrow Agreement.
      The balance sheet contained in such Financial Statements (including the related
      notes and schedules thereto) fairly presented the financial position of the
      Company, as of its date, and the statement of income and changes in
      stockholders’ equity and cash flows or equivalent statements in such Financial
      Statements (including any related notes and schedules thereto) fairly presents,
      changes in stockholders’ equity and changes in cash flows, as the case may be,
      of the Company, for the periods to which they relate, in each case in accordance
      with United States generally accepted accounting principles (“U.S.
      GAAP”)
      consistently applied during the periods involved, except in each case as may
      be
      noted therein, subject to normal year-end audit adjustments. The books and
      records of the Company have been, and are being, maintained in all material
      respects in accordance with U.S. GAAP and any other applicable legal and
      accounting requirements and reflect only actual transaction. 

     

    4.7 Compliance
      with Applicable Laws.
      The
      Company is not in violation of, or, to the knowledge of the Company, under
      investigation with respect to, or has been given notice or has been charged
      with
      the violation of, any Law of a governmental agency, except for violations which
      individually or in the aggregate do not have a Material Adverse Effect.

     

    4.8 Brokers.
      Except
      as set forth on Schedule 4.8, no broker, finder or investment banker is entitled
      to any brokerage, finder's or other fee or commission in connection with the
      transactions contemplated by this Agreement based upon arrangements made by
      or
      on behalf of the Company.

     

    4.9 Litigation.
      To the
      knowledge of the Company, no litigation, claim, or other proceeding before
      any
      court or governmental agency is pending or to the knowledge of the Company,
      threatened against the Company, the prosecution or outcome of which may have
      a
      Material Adverse Effect.

    
      
         

        
          
             

          

          
            
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    4.10 Exemption
      from Registration.
      Subject
      to the accuracy of the Investor’s representations in Article V, except as
      required pursuant to the Registration Rights Agreement, the sale of the Common
      Stock and Warrants by the Company to the Investor will not require registration
      under the 1933 Act, but may require registration or an exemption from
      registration under New York state securities law if applicable to the Investor.
      When validly converted in accordance with the terms of the Preferred Stock,
      and
      upon exercise of the Warrants in accordance with their terms, the Shares
      underlying the Preferred Stock and the Warrants will be duly and validly issued,
      fully paid, and non-assessable. The Company is issuing the Preferred Stock
      and
      the Warrants in accordance with and in reliance upon the exemption from
      securities registration afforded, inter alia, by Rule 506 under Regulation
      D as
      promulgated by the SEC under the 1933 Act, and/or Section 4(2) of the 1933
      Act;
      provided, however, that certain filings and registrations may be required under
      state securities “blue sky” laws depending upon the residency of the
      Investor.

     

    4.11 No
      General Solicitation or Advertising in Regard to this
      Transaction.
      Neither
      the Company nor any of its Affiliates nor, to the knowledge of the Company,
      any
      Person acting on its or their behalf (i) has conducted or will conduct any
      general solicitation (as that term is used in Rule 502(c) of Regulation D as
      promulgated by the SEC under the 1933 Act) or general advertising with respect
      to the sale of the Preferred Stock or Warrants, or (ii) made any offers or
      sales
      of any security or solicited any offers to buy any security under any
      circumstances that would require registration of the Preferred Stock or
      Warrants, under the 1933 Act, except as required herein.

     

    4.12 No
      Material Adverse Effect.
      Except
      as set forth in Schedule 4.12 attached hereto, since June 30, 2006, no event
      or
      circumstance resulting in a Material Adverse Effect has occurred or exists
      with
      respect to the Company. No material supplier or customer has given notice,
      oral
      or written, that it intends to cease or reduce the volume of its business with
      the Company from historical levels. Since June 30, 2006, no event or
      circumstance has occurred or exists with respect to the Company or its
      businesses, properties, prospects, operations or financial condition, that,
      under any applicable law, rule or regulation, requires public disclosure or
      announcement prior to the date hereof by the Company, but which has not been
      so
      publicly announced or disclosed in writing to the Investor.

     

    4.13 Material
      Non-Public Information.
      The
      Company has not disclosed to the Investor any material non-public information
      that (i) if disclosed, would reasonably be expected to have a material effect
      on
      the price of the Common Stock or (ii) according to applicable law, rule or
      regulation, should have been disclosed publicly by the Company prior to the
      date
      hereof, but which has not been so disclosed.

    
      
         

        
          
             

          

          
            
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    4.14 Internal
      Controls And Procedures.
      The
      Company maintains books and records and internal accounting controls which
      provide reasonable assurance that (i) all transactions to which the Company
      or
      any subsidiary is a party or by which its properties are bound are executed
      with
      management's authorization; (ii) the recorded accounting of the Company's
      consolidated assets is compared with existing assets at regular intervals;
      (iii)
      access to the Company's consolidated assets is permitted only in accordance
      with
      management's authorization; and (iv) all transactions to which the Company
      or
      any subsidiary is a party or by which its properties are bound are recorded
      as
      necessary to permit preparation of the financial statements of the Company
      in
      accordance with U.S. generally accepted accounting principles.

     

    4.15 Full
      Disclosure.
      No
      representation or warranty made by the
      Company in
      this
      Agreement and no certificate or document furnished or to be furnished to the
      Investor pursuant to this Agreement contains or will contain any untrue
      statement of a material fact, or omits or will omit to state a material fact
      necessary to make the statements contained herein or therein not
      misleading.

     

    4.16 Independent
      Board.
      . Not
      later than 30 days after the Closing, the Board of Directors of the Company
      shall consist of five directors, three of whom shall be independent as such
      term
      is defined in Rule 4200(a)(15) promulgated by the National Association of
      Securities Dealers, Inc. (the “NASD”).. Not later than 30 days after the Closing
      Date of this Agreement, the Board of Directors shall have an Audit and
      Compensation Committees of the Board of Directors of the Company comprised
      of
      independent directors. 

     

    ARTICLE
      V

    

    REPRESENTATIONS
      AND WARRANTIES OF THE INVESTOR

     

    The
      Investor represents and warrants to the Company that:

    

    5.1 Organization
      and Standing of the Investor.
      The
      Investor is a limited partnership duly formed, validly existing and in good
      standing under the laws of the State of Delaware. The state in which any offer
      to purchase shares hereunder was made or accepted by such Investor is the state
      shown as such Investor’s address. The Investor was not formed for the purpose of
      investing solely in the Preferred Stock, the Warrants or the shares of Common
      Stock which are the subject of this Agreement.

     

    5.2 Authorization
      and Power.
      The
      Investor has the requisite power and authority to enter into and perform this
      Agreement and to purchase the securities being sold to it hereunder. The
      execution, delivery and performance of this Agreement by the Investor and the
      consummation by the Investor of the transactions contemplated hereby have been
      duly authorized by all necessary partnership action where appropriate. This
      Agreement and the Registration Rights Agreement have been duly executed and
      delivered by the Investor and at the Closing shall constitute valid and binding
      obligations of the Investor enforceable against the Investor in accordance
      with
      their terms, except as such enforceability may be limited by applicable
      bankruptcy, insolvency, reorganization, moratorium, liquidation,
      conservatorship, receivership or similar laws relating to, or affecting
      generally the enforcement of, creditors' rights and remedies or by other
      equitable principles of general application.

    
      
         

        
          
             

          

          
            
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    5.3 No
      Conflicts.
      The
      execution, delivery and performance of this Agreement and the consummation
      by
      the Investor of the transactions contemplated hereby or relating hereto do
      not
      and will not (i) result in a violation of such Investor's limited partnership
      agreement or certificate of limited partnership or (ii) conflict with, or
      constitute a default (or an event which with notice or lapse of time or both
      would become a default) under, or give to others any rights of termination,
      amendment, acceleration or cancellation of any agreement, indenture or
      instrument to which the Investor is a party, or result in a violation of any
      law, rule, or regulation, or any order, judgment or decree of any court or
      governmental agency applicable to the Investor or its properties (except for
      such conflicts, defaults and violations as would not, individually or in the
      aggregate, have a Material Adverse Effect on such Investor). The Investor 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 such Investor’s obligations under this Agreement or to
      purchase the securities from the Company in accordance with the terms hereof,
      provided that for purposes of the representation made in this sentence, the
      Investor is assuming and relying upon the accuracy of the relevant
      representations and agreements of the Company herein.

     

    5.4 Financial
      Risks.
      The
      Investor acknowledges that such Investor is able to bear the financial risks
      associated with an investment in the securities being purchased by the Investor
      from the Company and that it has been given full access to such records of
      the
      Company and the subsidiaries and to the officers of the Company and the
      subsidiaries as it has deemed necessary or appropriate to conduct its due
      diligence investigation. The Investor is capable of evaluating the risks and
      merits of an investment in the securities being purchased by the Investor from
      the Company by virtue of its experience (or the experience of its officers,
      employees and partners) as an investor and its (or its officers’ employees’ or
      partners’) knowledge, experience, and sophistication in financial and business
      matters and the Investor is capable of bearing the entire loss of its investment
      in the securities being purchased by the Investor from the Company.

     

    5.5 Accredited
      Investor.
      The
      Investor is (i) an “accredited investor” as that term is defined in Rule 501 of
      Regulation D promulgated under the 1933 Act by reason of Rule 501(a)(3) and
      (6),
      (ii) experienced in making investments of the kind described in this Agreement
      and the related documents, (iii) able, by reason of the business and financial
      experience of its officers and professional advisors (who are not affiliated
      with or compensated in any way by the Company or any of its affiliates or
      selling agents), to protect its own interests in connection with the
      transactions described in this Agreement, and the related documents, and (iv)
      able to afford the entire loss of its investment in the securities being
      purchased by the Investor from the Company. 

    
      
         

        
          
             

          

          
            
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    5.6 Brokers.
      Except
      as set forth in Schedule 4.8, no broker, finder or investment banker is entitled
      to any brokerage, finder's or other fee or commission in connection with the
      transactions contemplated by this Agreement based upon arrangements made by
      or
      on behalf of the Investor.

     

    5.7 Knowledge
      of Company.
      The
      Investor and such Investor’s advisors, if any, have been, upon request,
      furnished with all materials relating to the business, finances and operations
      of the Company and materials relating to the offer and sale of the securities
      being purchased by the Investor from the Company. The Investor and such
      Investor’s advisors, if any, have been afforded the opportunity to ask questions
      of the Company and have received complete and satisfactory answers to any such
      inquiries.

     

    5.8 Risk
      Factors.
      The
      Investor understands that such Investor’s investment in the securities being
      purchased by the Investor from the Company involves a high degree of risk.
      The
      Investor 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 securities being purchased by the Investor from the Company.
      The Investor warrants that such Investor is able to bear the complete loss
      of
      such Investor’s investment in the securities being purchased by the Investor
      from the Company.

     

    5.9 Full
      Disclosure.
      No
      representation or warranty made by the Investor in this Agreement and no
      certificate or document furnished or to be furnished to the Company pursuant
      to
      this Agreement contains or will contain any untrue statement of a material
      fact,
      or omits or will omit to state a material fact necessary to make the statements
      contained herein or therein not misleading. Except as set forth or referred
      to
      in this Agreement, Investor does not have any agreement or understanding with
      any person relating to acquiring, holding, voting or disposing of any equity
      securities of the Company.

     

    5.10 Payment
      of Due Diligence Expenses.
      At
      Closing the Escrow Agent shall disperse to the Investor Eighty-Five Thousand
      Dollars ($85,000.00) for due diligence expenses.

     

    ARTICLE
      VI

    

    COVENANTS
      OF THE COMPANY

    

    6.1 Registration
      Rights.
      The
      Company shall cause the Registration Rights Agreement to remain in full force
      and effect according to the provisions of the Registration Rights Agreement
      and
      the Company shall comply in all material respects with the terms
      thereof.

     

    6.2 Reservation
      of Common Stock.
      As of
      the date hereof, the Company has reserved and the Company shall continue to
      reserve and keep available at all times, free of preemptive rights, shares
      of
      Common Stock for the purpose of enabling the Company to issue the Shares
      underlying the Preferred Stock and Warrants. 

    
      
         

        
          
             

          

          
            
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    6.3 Compliance
      with Laws.
      The
      Company hereby agrees to comply in all respects with the Company's reporting,
      filing and other obligations under the Laws.

     

    6.4 Filing
      of Registration Statement on Form SB-2.
      As
      provided in the Registration Rights Agreement, on the day after the Closing
      Date, the Company shall file with the SEC a Registration Statement on Form
      SB-2
      (the “SB-2”) covering the resale by the Investor of all Shares that may be
      acquired by the Investor upon conversion of the Preferred Stock and exercise
      of
      the Warrants. The Company shall comply in all respects with its periodic
      reporting and filing obligations under the 1934 Act. The Company will not take
      any action or file any document (whether or not permitted by the 1934 Act or
      the
      rules thereunder) to terminate or suspend its reporting and filing obligations
      under the 1934 Act until the Investor has disposed of all of its
      Shares.

     

    6.5 Corporate
      Existence; Conflicting Agreements.
      The
      Company will take all steps necessary to preserve and continue the corporate
      existence of the Company. The Company shall not enter into any agreement, the
      terms of which agreement would restrict or impair the right or ability of the
      Company to perform any of its obligations under this Agreement or any of the
      other agreements attached as exhibits hereto.

     

    6.6 OTC
      Bulletin Board Qualification..
      As soon
      as practicable after the SB-2 is declared effective, the Company shall use
      reasonable commercial efforts to have its Common Stock quoted on the OTC
      Bulletin Board and to maintain such qualification. 

     

    6.7 Preferred
      Stock.
      On
      or
      prior to the Closing Date, the Company will cause to be cancelled all preferred
      stock of the Company, if any. Without the prior written consent of the Investor,
      such consent not to be unreasonably withheld, for a period of five yearsfrom
      the
      Closing Date, the Company will not issue any preferred stock of the Company,
      except for the Preferred Stock issued to the Investor.

     

    6.8 Convertible
      Debt.
      On
      or
      prior to the Closing Date, the Company will cause to be cancelled all
      convertible debt in the Company. Without the prior written consent of the
      Investor, such consent not to be unreasonably withheld, for a period of five
      years from the closing the Company will not issue any convertible
      debt.

     

    6.9 Debt
      Limitation.
      Without
      the prior written consent of the Investor, such consent not to be unreasonably
      withheld, for five years after Closing the Company shall not to enter into
      any
      new borrowings of more than twice as much as the sum of the EBITDA from
      recurring operations over the past four quarters.

     

    6.10 Reset
      Equity Deals.
      On
      or
      prior to the Closing Date, the Company will cause to be cancelled any and all
      reset features related to any shares outstanding that could result in additional
      shares being issued. For a period of five years from the closing the Company
      will not enter into any transactions that have any reset features that could
      result in additional shares being issued.

    
      
         

        
          
             

          

          
            
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    6.11 Independent
      Directors.
      On or
      before 30 days after the Closing Date, the Company shall have caused the
      appointment of the majority of the board of directors to be qualified
      independent directors, as defined in NASD Rule 4200(a)(15). If at any time
      after
      Closing the board shall not be composed in the majority of qualified independent
      directors, the Company shall pay to the Investors, pro rata, as liquidated
      damages and not as a penalty, an amount equal to twenty eight percent (22%)
      of
      the Purchase Price per annum, payable monthly in cash or Preferred Stock at
      the
      option of the Investor. The parties agree that the only damages payable for
      a
      violation of the terms of this Agreement with respect to which liquidated
      damages are expressly provided shall be such liquidated damages. Nothing shall
      preclude the Investor from pursuing or obtaining specific performance or other
      equitable relief with respect to this Agreement. The parties hereto agree that
      the liquidated damages provided for in this Section 6.11 constitute a reasonable
      estimate of the damages that may be incurred by the Investor by reason of the
      failure of the Company to appoint at least two independent directors in
      accordance with the provision hereof. 

     

    6.12 Independent
      Directors Become Majority of Audit and Compensation
      Committees.
      On or
      before 30 days after the Closing Date, the Company will cause the appointment
      of
      a majority of independent directors to the audit and compensation committees
      of
      the board of directors of the Company. . If at any time after Closing such
      independent directors do not compose the majority of the audit and compensation
      committees, the Company shall pay to the Investors, pro rata, as liquidated
      damages and not as a penalty, an amount equal to twenty eight percent (22%)
      of
      the Purchase Price per annum, payable monthly in cash or Preferred Stock at
      the
      option of the Investor. The parties agree that the only damages payable for
      a
      violation of the terms of this Agreement with respect to which liquidated
      damages are expressly provided shall be such liquidated damages. Nothing shall
      preclude the Investor from pursuing other remedies or obtaining specific
      performance or other equitable relief with respect to this Agreement.

     

    6.13 Use
      of Proceeds.
      The
      Company will use the proceeds from the sale of the Preferred Stock and the
      Warrants (excluding amounts paid by the Company for legal and administrative
      fees in connection with the sale of such securities) for product rights, working
      capital and acquisitions.

     

    6.14 Preemptive
      Right on Certain Issuances.

     

    (a) Grant
      of Rights.
      Provided that this Agreement is consummated on or before September 6, 2006,
      for
      a period of two years after the Closing Date, the Company hereby grants to
      the
      Investor the right to purchase, pro rata, all (or any part) of any New
      Securities (as defined in Section 6.14(i) below) that the Company may, from
      time
      to time during such period, propose to sell or issue. The Investor's pro rata
      share of the New Securities (its “Pro Rata Amount”) for purposes of this Section
      6.14, is equal to the ratio of (i) the number of shares of Common Stock then
      issuable to the Investor assuming all of the Preferred Stock held by the
      Investor is converted and all of the Warrants held by the Investor are exercised
      in accordance with their respective terms (the “Investor’s Shares”) to (ii) the
      sum of (A) the total number of shares of the Common Stock issued and outstanding
      as of the date of such determination, plus (B) the total number of Investor
      Shares .

    
      
         

        
          
             

          

          
            
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    (b) Notice.
      The
      Company shall not issue, sell or exchange, agree to issue, sell or exchange,
      or
      reserve or set aside for issuance, sale or exchange any New Securities unless
      the Company shall deliver to the Investor a written notice of any proposed
      or
      intended issuance, sale or exchange of New Securities (the "Preemptive Offer"),
      which Preemptive Offer shall (i) identify and describe the New Securities,
      (ii)
      describe the price and other terms upon which they are to be issued, sold or
      exchanged, and the number or amount of the New Securities to be issued, sold
      or
      exchanged, (iii) identify the persons or entities, if known, to which or with
      which the New Securities are to be offered, issued, sold or exchanged and (iv)
      offer to issue and sell to or exchange with such Investor such Investor's Pro
      Rata Amount. The Investor shall have the right, for a period of 15 days
      following delivery of the Preemptive Offer, to purchase or acquire, at a price
      and upon the other terms specified in the Preemptive Offer, the number or amount
      of New Securities described above. The Preemptive Offer by its terms shall
      remain open and irrevocable for such 15-day period.

     

    (c) Acceptance
      of Preemptive Offer.
      To
      accept a Preemptive Offer, in whole or in part, a Investor must deliver a
      written notice to the Company prior to the end of the 15-day Preemptive Offer
      period, setting forth the portion of the Investor's Pro Rata Amount that such
      Investor elects to purchase (the "Notice of Acceptance"). 

     

    (d) Company
      Sales of Refused Securities.
      The
      Company shall have 180 days from the expiration of the period set forth in
      Section 6.14(c) above to issue, sell or exchange all or any part of such New
      Securities as to which a Notice of Acceptance has not been given by the Investor
      (the "Refused Securities"), but only upon terms and conditions that are not
      materially more favorable to the purchaser of such New Securities as described
      in the Preemptive Offer. Notwithstanding anything contained in this Section
      6.14
      to the contrary, the Preemptive Offer need not be given prior to the purchase
      by
      the party intending to purchase the New Securities described in the Preemptive
      Offer; provided that (i) such Preemptive Offer is sent within five (5) days
      after the sale to such party is consummated and remains open for a fifteen
      (15)
      day period from the receipt thereof, (ii) the Company has set aside a number
      of
      shares sufficient to satisfy the obligations of the Company pursuant to this
      Section 6.14, and (iii) such New Securities purchased by the party intending
      to
      purchase the New Securities described in the Preemptive Offer are not considered
      for purposes of determining each Investor's Pro Rata Amount pursuant to Section
      6.14(a) hereof.

     

    (e) Completion
      of Purchase.
      Upon the
      closing of the issuance, sale or exchange of all or less than all the Refused
      Securities, the Investor shall acquire from the Company, and the Company shall
      issue to the Investor, the number or amount of New Securities specified in
      the
      Notices of Acceptance upon the terms and conditions specified in the Preemptive
      Offer. The purchase by the Investor of any New Securities is subject in all
      cases to the preparation, execution and delivery by the Company and the Investor
      or like investors of a purchase agreement relating to such New Securities
      reasonably satisfactory in form and substance to the Investor and the
      Company.

    
      
         

        
          
             

          

          
            
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    “New
      Securities” Defined.
“New
      Securities” means (a) any shares of Common Stock, preferred stock or other
      equity securities of the Company, whether now authorized or not issued after
      the
      date hereof; and (b) any options, warrants, convertible notes, or similar rights
      issued after the date hereof that are or may become convertible into or
      exercisable or exchangeable for, or that carry rights to subscribe for, any
      equity securities of the Company (each, a “Derivative Security”); provided,
      however, that the term “New Securities” does not include (i) securities issued
      pursuant to the acquisition of another entity by the Company by merger,
      consolidation, amalgamation, exchange of shares, the purchase of all or
      substantially all of the assets, or otherwise; (ii) options issued to any
      directors or employees of, or consultants to, the Company or its subsidiaries
      pursuant to any incentive stock plan or other form of incentive compensation
      approved by the Company’s Board of Directors (whether now authorized or not) and
      all shares of Common Stock issued upon the exercise thereof; (iii) shares of
      Common Stock issued upon the exercise of or conversion of any Derivative
      Security that is outstanding on the date hereof; (iv) shares of Common Stock
      or
      other securities issued upon the exercise or conversion of any Derivative
      Security as to which the Preemptive Offer has already been made or is otherwise
      exempt from this Section; (v) shares of Common Stock or other capital stock
      issued to the Company’s stockholders upon any stock split, stock dividend,
      combination or other similar event with respect to the Company’s Common Stock or
      other capital stock; and (vi) securities
      of any type issued (a) to any broker, finder or agent acting on behalf of the
      Company in satisfaction of commission payments (whether now due and owing or
      not) or (b) for services rendered to the Company at any time (including, without
      limitation, in connection with financing activities) and, to the extent that
      any
      such securities constitute Derivative Securities, the shares of Common Stock
      that are issued upon the exercise or conversion thereof. 

     

    6.15 Price
      Adjustment.
      From
      the
      date hereof until the expiration of 48 months after the Closing Date or until
      the Investor owns less than 5% of their Preferred Stock, whichever occurs first,
      if the Company closes on the sale of a note or notes, shares of Common Stock,
      or
      shares of any class of Preferred Stock at a price per share of Common Stock,
      or
      with a conversion right to acquire Common Stock at a price per share of Common
      Stock, that is less than the Conversion Value (as such term is defined in and
      adjusted pursuant to the Certificate of Designations the Company shall make
      a
      post-Closing adjustment in the Conversion Value so that the Conversion Value
      is
      reduced to price per share of Common Stock or conversion price of the securities
      sold. 

     

    6.16 Price
      Adjustment Based on 2006 and 2007 Earnings Per Share.

    

    
      	
            	6.16.1	
              In
                the event the Company earns between $0.0306 and $0.0187 (40% Decline)
                per
                share (where such earnings in the paragraph shall always be defined
                as
                earnings on a pre tax fully diluted basis as reported in the audited
                financial statements of the Company for the three months ended December
                31, 2006 from continuing operations before any non-recurring items
                (the
                “2006 Audited Financials”)), the then current Conversion Value at the time
                the 2006 Audited Financials are filed with the SEC shall be decreased
                proportionally by 0% if the earnings are $0.0306 per share or greater
                and
                by 40% if the earnings are $0.0187 per share or less. For example,
                if the
                earnings are $0.0229 per share (25% decline) the then current Conversion
                Value shall be reduced by 25%. Such adjustment shall be made within
                five
                (5) business days of the 2006 Audited Financials being filed with
                the SEC,
                and shall be cumulative upon any other changes to Conversion Value
                that
                may already have been made. 

            

    

    
    

    
      
         

        
          
             

          

          
            
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            	6.16.2	
              In
                the event the Company earns between $0.19 and $0.1446 (25% Decline)
                per
                share (where such earnings in the paragraph shall always be defined
                as
                earnings on a pre tax fully diluted basis as reported in the audited
                financial statements of the Company for the fiscal year ended December
                31,
                2007 from continuing operations before any non-recurring items (the
“2007
                Audited Financials”)) the then current Conversion Value at the time the
                2007 Audited Financials are filed with the SEC shall be decreased
                proportionally by 0% if the earnings are $0.19 per share or greater
                and by
                25% if the earnings are $0.1446 per share or less. For example, if
                the
                earnings are $0.163 per share (15% decline) the then current Conversion
                Value shall be reduced by 15%. Such adjustment shall be made within
                five
                (5) business days of the 2007 Audited Financials being filed with
                the SEC,
                and shall be cumulative upon any other changes to Conversion Value
                to that
                may already have been made. 

            

    

    
      	
            	6.16.3	
              For
                purpose of determining EBITDA Per Share on a fully-diluted basis,
                all
                shares of Common Stock issuable upon conversion of convertible securities
                and upon exercise of warrants and options shall be deemed to be
                outstanding, regardless of whether (i) such shares are treated as
                outstanding for determining diluted earnings per share under GAAP,
                (ii)
                such securities are “in the money,” or (iii) such shares may be issued as
                a result of the 4.9% Limitation. The per share amounts set forth
                in
                Sections 6.16.1 and 6.16.2 of this Agreement shall be adjusted in
                accordance with GAAP to reflect any stock dividend, split, distribution,
                reverse split or combination of shares or other
                recapitalization.

            

    

    

    6.17 Insider
      Selling.
      The
      earliest any “Insiders” can start selling their shares shall be one year from
      the date the registration statement is declared effective. Insiders shall
      include all officers and directors of the Company. Andrew Barron Worden and
      the
      Investor shall not be considered “Insiders”.

     

    6.18 Employment
      and Consulting Contracts.
      For
      five
      years after the Closing Company must have a unanimous opinion from the
      Compensation Committee of the Board of Directors that any awards other than
      salary are usual, appropriate and reasonable for any officer, director,
      employee or consultant holding a similar position in other fully reporting
      public companies with independent majority boards with similar market
      capitalizations in the same industry with securities listed on the OTCBB, ASE,
      NYSE or NASDAQ.

     

    6.19 Subsequent
      Equity Sales.
      From
      the
      date hereof until such time as no Purchaser holds any of the Securities, the
      Company shall be prohibited from effecting or entering into an agreement to
      effect any Subsequent Financing involving a “Variable
      Rate Transaction”
or
      an
“MFN
      Transaction”
(each
      as defined below). The term “Variable
      Rate Transaction”
shall
      mean a transaction in which the Company issues or sells (i) any debt or equity
      securities that are convertible into, exchangeable or exercisable for, or
      include the right to receive additional shares of Common Stock either (A) at
      a
      conversion, exercise or exchange rate or other price that is based upon and/or
      varies with the trading prices of or quotations for the shares of Common Stock
      at any time after the initial issuance of such debt or equity securities, or
      (B)
      with a conversion, exercise or exchange price that is subject to being reset
      at
      some future date after the initial issuance of such debt or equity security
      or
      upon the occurrence of specified or contingent events directly or indirectly
      related to the business of the Company or the market for the Common Stock.
      The
      term “MFN
      Transaction”
shall
      mean a transaction in which the Company issues or sells any securities in a
      capital raising transaction or series of related transactions which grants
      to an
      investor the right to receive additional shares based upon future transactions
      of the Company on terms more favorable than those granted to such investor
      in
      such offering. Any Purchaser shall be entitled to obtain injunctive relief
      against the Company to preclude any such issuance, which remedy shall be in
      addition to any right to collect damages. Notwithstanding the foregoing, this
      Section 6.17 shall not apply in respect of an Exempt Issuance, except that
      no
      Variable Rate Transaction or MFN Transaction shall be an Exempt
      Issuance.

    
      
         

        
          
             

          

          
            
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    6.20 Stock
      Splits.
      All
      forward and reverse stock splits shall effect all equity and derivative holders
      proportionately.

     

    ARTICLE
      VII

    

    COVENANTS
      OF THE INVESTOR

    

    7.1 Compliance
      with Law.
      The
      Investor's trading activities with respect to shares of the Company's Common
      Stock will be in compliance with all applicable state and federal securities
      laws, rules and regulations and rules and regulations of any public market
      on
      which the Company's Common Stock is listed. 

     

    7.2 Transfer
      Restrictions. The
      Investor acknowledges that (1) the Preferred Stock, Warrants and shares
      underlying the Preferred Stock and Warrants have not been registered under
      the
      provisions of the 1933 Act, and may not be transferred unless (A) subsequently
      registered thereunder or (B) the Investor shall have delivered to the Company
      an
      opinion of counsel, reasonably satisfactory in form, scope and substance to
      the
      Company, to the effect that the Preferred Stock, Warrants and shares underlying
      the Notes and Warrants to be sold or transferred may be sold or transferred
      pursuant to an exemption from such registration; and (2) any sale of the
      Preferred Stock, Warrants and shares underlying the Preferred Stock and Warrants
      made in reliance on Rule 144 promulgated under the 1933 Act may be made only
      in
      accordance with the terms of said Rule and further, if said Rule is not
      applicable, any resale of such 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 used in the 1933 Act, may require compliance with
      some other exemption under the 1933 Act or the rules and regulations of the
      SEC
      thereunder.

    
      
         

        
          
             

          

          
            
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    7.3 Restrictive
      Legend. The
      Investor acknowledges and agrees that the Preferred Stock, the Warrants and
      the
      Shares underlying the Preferred Stock and Warrants, and, until such time as
      the
      Shares underlying the Preferred Stock and Warrants have been registered under
      the 1933 Act and sold in accordance with an effective Registration Statement,
      certificates and other instruments representing any of the Shares, shall bear
      a
      restrictive legend in substantially the following form (and a stop-transfer
      order may be placed against transfer of any such securities):

     

    "THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE
      SECURITIES LAWS AND NEITHER SUCH SHARES NOR ANY INTEREST THEREIN MAY BE OFFERED,
      SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION
      STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY
      APPLICABLE STATE SECURITIES LAWS, OR (2) IN ACCORDANCE WITH THE PROVISIONS
      OF
      REGULATION S, OR (3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
      SECURITIES ACT."

    
      
         

        
          
             

          

          
            
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    ARTICLE
      VIII

     

    CONDITIONS
      PRECEDENT TO THE COMPANY’S OBLIGATIONS

    

    The
      obligation of the Company to consummate the transactions contemplated hereby
      shall be subject to the fulfillment, on or prior to Closing Date, of the
      following conditions:

    

    8.1 No
      Termination.
      This
      Agreement shall not have been terminated pursuant to Article X
      hereof.

    

    8.2 Representations
      True and Correct.
      The
      representations and warranties of the Investor contained in this Agreement
      shall
      be true and correct in all material respects on and as of the Closing Date
      with
      the same force and effect as if made on as of the Closing Date.

    

    8.3 Compliance
      with Covenants.
      The
      Investor shall have performed and complied in all material respects with all
      covenants, agreements, and conditions required by this Agreement to be performed
      or complied by it prior to or at the Closing Date.

    

    8.4 No
      Adverse Proceedings.
      On the
      Closing Date, no action or proceeding shall be pending by any public authority
      or individual or entity before any court or administrative body to restrain,
      enjoin, or otherwise prevent the consummation of this Agreement or the
      transactions contemplated hereby or to recover any damages or obtain other
      relief as a result of the transactions proposed hereby. 

    
      
         

        
          
             

          

          
            
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    ARTICLE
      IX

    

    CONDITIONS
      PRECEDENT TO INVESTOR’S OBLIGATIONS

    

    The
      obligation of the Investors to consummate the transactions contemplated hereby
      shall be subject to the fulfillment, on or prior to Closing Date unless
      specified otherwise, of the following conditions:

    

    9.1 No
      Termination.
      This
      Agreement shall not have been terminated pursuant to Article X
      hereof.

     

    9.2 Representations
      True and Correct.
      The
      representations and warranties of the Company contained in this Agreement shall
      be true and correct in all material respects on and as of the Closing Date
      with
      the same force and effect as if made on as of the Closing Date.

     

    9.3 Compliance
      with Covenants .
      The
      Company shall have performed and complied in all material respects with all
      covenants, agreements, and conditions required by this Agreement to be performed
      or complied by it prior to or at the Closing Date.

     

    9.4 No
      Adverse Proceedings.
      On the
      Closing Date, no action or proceeding shall be pending by any public authority
      or individual or entity before any court or administrative body to restrain,
      enjoin, or otherwise prevent the consummation of this Agreement or the
      transactions contemplated hereby or to recover any damages or obtain other
      relief as a result of the transactions proposed hereby. 

     

    ARTICLE
      X

    

    TERMINATION,
      AMENDMENT AND WAIVER

    

    10.1 Termination.
      This
      Agreement may be terminated at any time prior to the Closing Date

     

    10.1.1 by
      mutual
      written consent of the Investor and the Company;

     

    10.1.2 by
      the
      Company upon a material breach of any representation, warranty, covenant or
      agreement on the part of the Investor set forth in this Agreement, or the
      Investor upon a material breach of any representation, warranty, covenant or
      agreement on the part of the Company set forth in this Agreement, or if any
      representation or warranty of the Company or the Investor, respectively, shall
      have become untrue, in either case such that any of the conditions set forth
      in
      Article VIII or Article IX hereof would not be satisfied (a "Terminating
      Breach"),
      and
      such breach shall, if capable of cure, not have been cured within five (5)
      business days after receipt by the party in breach of a notice from the
      non-breaching party setting forth in detail the nature of such
      breach.

    
      
         

        
          
             

          

          
            
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    10.2 Effect
      of Termination.
      Except
      as otherwise provided herein, in the event of the termination of this Agreement
      pursuant to Section 10.1 hereof, there shall be no liability on the part of
      the
      Company or the Investor or any of their respective officers, directors, agents
      or other representatives and all rights and obligations of any party hereto
      shall cease; provided that in the event of a Terminating Breach, the breaching
      party shall be liable to the non-breaching party for all costs and expenses
      incurred by the non-breaching party not to exceed $50,000.00.

     

    10.3 Amendment.
      This
      Agreement may be amended by the parties hereto any time prior to the Closing
      Date by an instrument in writing signed by the parties hereto.

     

    10.4 Waiver.
      At any
      time prior to the Closing Date, the Company or the Investor, as appropriate,
      may: (a) extend the time for the performance of any of the obligations or other
      acts of other party or; (b) waive any inaccuracies in the representations and
      warranties contained herein or in any document delivered pursuant hereto which
      have been made to it or them; or (c) waive compliance with any of the agreements
      or conditions contained herein for its or their benefit. Any such extension
      or
      waiver shall be valid only if set forth in an instrument in writing signed
      by
      the party or parties to be bound hereby.

     

    ARTICLE
      XI

    

    GENERAL
      PROVISIONS

    

    11.1 Transaction
      Costs.
      Except
      as otherwise provided herein, each of the parties shall pay all of his or its
      costs and expenses (including attorney fees and other legal costs and expenses
      and accountants’ fees and other accounting costs and expenses) incurred by that
      party in connection with this Agreement; provided, the Company shall pay
      Investor such due diligence expenses as described in section 5.10.

     

    11.2 Indemnification.
      The
      Investor agrees to indemnify, defend and hold the Company (following the Closing
      Date) and its officers and directors harmless against and in respect of any
      and
      all claims, demands, losses, costs, expenses, obligations, liabilities or
      damages, including interest, penalties and reasonable attorney’s fees, that it
      shall incur or suffer, which arise out of or result from any breach of this
      Agreement by such Investor or failure by such Investor to perform with respect
      to any of its representations, warranties or covenants contained in this
      Agreement or in any exhibit or other instrument furnished or to be furnished
      under this Agreement. The Company agrees to indemnify, defend and hold the
      Investor harmless against and in respect of any and all claims, demands, losses,
      costs, expenses, obligations, liabilities or damages, including interest,
      penalties and reasonable attorney’s fees, that it shall incur or suffer, which
      arise out of, result from or relate to any breach of this Agreement or failure
      by the Company to perform with respect to any of its representations, warranties
      or covenants contained in this Agreement or in any exhibit or other instrument
      furnished or to be furnished under this Agreement. In no event shall the Company
      or the Investors be entitled to recover consequential or punitive damages
      resulting from a breach or violation of this Agreement nor shall any party
      have
      any liability hereunder in the event of gross negligence or willful misconduct
      of the indemnified party. In the event of a breach of this Agreement by the
      Company, the Investor shall be entitled to pursue a remedy of specific
      performance upon tender into the Court an amount equal to the Purchase Price
      hereunder. The indemnification by the Investor shall be limited to
      $50,000.00.

    
      
         

        
          
             

          

          
            
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    11.3 Headings.
      The
      table of contents and headings contained in this Agreement are for reference
      purposes only and shall not affect in any way the meaning or interpretation
      of
      this Agreement.

     

    11.4 Entire
      Agreement.
      This
      Agreement (together with the Schedule, Exhibits, Warrants and documents referred
      to herein) constitute the entire agreement of the parties and supersede all
      prior agreements and undertakings, both written and oral, between the parties,
      or any of them, with respect to the subject matter hereof. 

     

    11.5 Notices.
      All
      notices and other communications hereunder shall be in writing and shall be
      deemed to have been given (i) on the date they are delivered if delivered in
      person; (ii) on the date initially received if delivered by facsimile
      transmission followed by registered or certified mail confirmation; (iii) on
      the
      date delivered by an overnight courier service; or (iv) on the third business
      day after it is mailed by registered or certified mail, return receipt requested
      with postage and other fees prepaid as follows:

    

    If
      to the
      Company:

    

    100
      Field
      Drive, Suite 240

    Lake
      Forest, Illinois 60045

    Attention:
      President

     

    With
      a
      copy to:

     

    Guzov
      Ofsink, LLC

    600
      Madison Avenue

    New
      York,
      New York 10022

    Facsimile
      No.: 212-688-7273

    Attn:
      Darren Ofsink, Esq.

     

    If
      to
      the Investor:

    

    Barron
      Partners L.P.

    c/o
      Barron Capital Advisors, LLC

    730
      Fifth
      Avenue, 25th
      Floor

    New
      York,
      New York 10019

    Attn:
      Andrew Barron Worden

    
      
         

        
          
             

          

          
            
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    11.6 Severability.
      If any
      term or other provision of this Agreement is invalid, illegal or incapable
      of
      being enforced by any rule of law or public policy, all other conditions and
      provisions of this Agreement shall nevertheless remain in full force and effect
      so long as the economic or legal substance of the transactions contemplated
      hereby is not affected in any manner materially adverse to any party. Upon
      such
      determination that any such term or other provision is invalid, illegal or
      incapable of being enforced, the parties hereto shall negotiate in good faith
      to
      modify this Agreement so as to effect the original intent of the parties as
      closely as possible in an acceptable manner to the end that the transactions
      contemplated hereby are fulfilled to the extent possible.

     

    11.7 Binding
      Effect.
      All the
      terms and provisions of this Agreement whether so expressed or not, shall be
      binding upon, inure to the benefit of, and be enforceable by the parties and
      their respective administrators, executors, legal representatives, heirs,
      successors and assignees. 

     

    11.8 Preparation
      of Agreement.
      This
      Agreement shall not be construed more strongly against any party regardless
      of
      who is responsible for its preparation. The parties acknowledge each contributed
      and is equally responsible for its preparation.

     

    11.9 Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of New York, without giving effect to applicable principles of
      conflicts of law.

     

    11.10
      Jurisdiction.
      This
      Agreement shall be exclusively governed by and construed in accordance with
      the
      laws of the State of New York. If any action is brought among the parties with
      respect to this Agreement or otherwise, by way of a claim or counterclaim,
      the
      parties agree that in any such action, and on all issues, the parties
      irrevocably waive their right to a trial by jury. Exclusive jurisdiction and
      venue for any such action shall be the Federal Courts serving the State of
      New
      York. In the event suit or action is brought by any party under this Agreement
      to enforce any of its terms, or in any appeal therefrom, it is agreed that
      the
      prevailing party shall be entitled to reasonable attorneys fees to be fixed
      by
      the arbitrator, trial court, and/or appellate court.

     

    11.11
      Preparation
      and Filing of SEC filings.
      The
      Investor shall reasonably assist and cooperate with the Company in the
      preparation of all filings with the SEC after the Closing Date due after the
      Closing Date. 

    
      
         

        
          
             

          

          
            
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    11.12 Further
      Assurances, Cooperation.
      Each
      party shall, upon reasonable request by the other party, execute and deliver
      any
      additional documents necessary or desirable to complete the transactions herein
      pursuant to and in the manner contemplated by this Agreement. The parties hereto
      agree to cooperate and use their respective best efforts to consummate the
      transactions contemplated by this Agreement.

     

    11.13 Survival.
      The
      representations, warranties, covenants and agreements made herein shall survive
      the Closing of the transaction contemplated hereby. 

     

    11.14 Third
      Parties.
      Except
      as disclosed in this Agreement, nothing in this Agreement, whether express
      or
      implied, is intended to confer any rights or remedies under or by reason of
      this
      Agreement on any persons other than the parties hereto and their respective
      administrators, executors, legal representatives, heirs, successors and
      assignees. Nothing in this Agreement is intended to relieve or discharge the
      obligation or liability of any third persons to any party to this Agreement,
      nor
      shall any provision give any third persons any right of subrogation or action
      over or against any party to this Agreement.

     

    11.15 Failure
      or Indulgence Not Waiver; Remedies Cumulative.
      No
      failure or delay on the part of any party hereto in the exercise of any right
      hereunder shall impair such right or be construed to be a waiver of, or
      acquiescence in, any breach of any representation, warranty, covenant or
      agreement herein, nor shall nay single or partial exercise of any such right
      preclude other or further exercise thereof or of any other right. All rights
      and
      remedies existing under this Agreement are cumulative to, and not exclusive
      of,
      any rights or remedies otherwise available.

     

    11.16 Counterparts.
      This
      Agreement may be executed in one or more counterparts, and by the different
      parties hereto in separate counterparts, each of which when executed shall
      be
      deemed to be an original, but all of which taken together shall constitute
      one
      and the same agreement. A facsimile transmission of this signed Agreement shall
      be legal and binding on all parties hereto. 

    

    

    [SIGNATURES
      ON FOLLOWING PAGE]

    
      
         

        
          
             

          

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

     

    
      
        	THE
                COMPANY: 	 	 	 
	 	 	 	 
	LAB123,
                INC. 	 	 	 
	 	 	 	 	 
	
                By:

                
Title: 

              	
                /s/ Michael
                  Sosnowik

                
                  

                
CEO	 	 	
              
	 	 	 	 	 

      

      	INVESTOR: 	 	 	 
	 	 	 	 
	
              BARRON
                PARTNERS LP

              By:
                Barron Capital Advisors, LLC, its General Partners 

            	 	 	 
	 	 	 	 
	/s/ Andrew
              Barron Worden	 	 	 
	
              

            	 	 	
            
	Andrew Barron Worden

              President

              730
                Fifth Avenue, 25th Floor

              New
                York NY 10019

            	 	 	
            

      
        
           

          
            
               

            

            
              
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    Schedule
      A

     

    
      	
               

               

               

               

              NAME
                AND ADDRESS

            	
               

               

               

              AMOUNT
                OF
INVESTMENT

            	
               

              NUMBER
                OF SHARES 

              OF
                COMMON STOCK 

              INTO
                WHICH PREFERRED 

              STOCK
                IS CONVERTIBLE

            	
               

               

               

              NUMBER
                OF SHARES
UNDERLYING WARRANTS

            
	
              Barron
                Partners LP

              730
                Fifth Avenue, 9th
                Floor

              New
                York, New York 10019

              Attn:
                Andrew Barron Worden

            	
              $2,000,000.00

            	
              3,774,000

            	
              A:
                1,887,000
B:
                1,887,000
Total:
                3,774,000

            

    

    
      
        
           

          
            
               

            

            
              
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    Schedule
      4.3.2 - Capitalization

    
      
        
           

           

           

          
            
               

            

            
              
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    Schedule
      4.8 - List of Brokers

    

    

    
      
        
           

          
            
               

            

            
              
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    Exhibit
      A

    

    Form
      of Certificate of Deisgnation of Preferences, Rights and
      Limitations

     

     

     

    
      
        
           

          
            
               

            

            
              
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Exhibit
      B

    

    Registration
      Rights Agreement

     

     

     

    
      
        
           

          
            
               

            

            
              
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    Exhibit
      C

    

    Warrants

     

     

     

    
      
        
           

          
            
               

            

            
              
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    Exhibit
      D

    

    Escrow
      Agreement

     

     

     

    
      
        
           

          
            
               

            

              
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