Document:

Exhibit 10.4

    
      
        

      

    

    NEGATIVE
      PLEDGE

    

    THIS
      AGREEMENT dated
      as
      of the 26th
      day of
      March, 2007.

    

    FROM:

    TOV
      Energy-Servicing Company Esko Pivnich and Pari, Ltd.

    
 

    (hereinafter
      called the "Covenantor")

    OF
      THE
      FIRST PART

    T
      O
      :

    DUTCHESS
      PRIVATE EQUITIES FUND, LTD

    

    (hereinafter
      called the "Lender")

    OF
      THE
      SECOND PART

    

    WHEREAS
      pursuant
      to one or more promissory notes or debentures (the “Credit
      Facilities”)
      between
      Sunrise Energy Resources, Inc. (the “Company”),
      the
      Lender has agreed to make certain loans and other financial accommodations
      to
      the Company, upon the terms and conditions set forth therein (the "Loan
      Agreement");

    

    AND
      WHEREAS the
      Covenantor is a wholly-owned subsidiary of the Company;

    

    AND
      WHEREAS
      it is a
      condition of the establishment of the Credit Facilities by the Lender that
      the
      Covenantor enter into this Agreement.

    

    NOW
      THEREFORE THIS AGREEMENT WITNESSETH
      that in
      consideration of good and valuable consideration (the receipt and sufficiency
      of
      which is hereby acknowledged by the Covenantor), the Covenantor represents,
      covenants and agrees in favor of the Lender as follows:

    

    1.          The
      Covenantor hereby represents and warrants to the Lender that it has not granted
      any lien, charge, security interest, hypothec, mortgage or encumbrance in favor
      of any third party.

    

    2.          The
      Covenantor hereby covenants and agrees to and in favor of the Lender that it
      will not grant, any lien, charge, security interest, hypothec, mortgage or
      encumbrance of any nature or kind over any property which it may hereafter
      acquire and that immediately upon acquiring any such property, it shall notify
      the Lender in writing of such acquisition and shall grant to and in favor of
      the
      Lender any lien, charge, security interest, hypothec, mortgage or encumbrance
      which the Lender may request.

    

    3.          This
      Agreement shall be construed in accordance with and governed by the laws of
      the
      Commonwealth of Massachusetts and shall be binding upon the heirs, executors,
      administrators, personal representatives, successors and assigns of the
      Covenantor.

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF
      the
      Covenantor has executed this Agreement as of the 26th
      day of
      March, 2007.

     

    
      	 	
              By:

            	
              /s/
                

            	 
	 	 	
              [Authorized
                Signing Officer] 

            	 

    

     

     

    2Exhibit 10.1

    
      

    

    
      Exhibit
        10.1

      

      WAIVER
        AND AMENDMENT

      TO
        

      CERTIFICATE
        OF DESIGNATION OF SERIES A CONVERTIBLE PREFERRED STOCK,

      WARRANTS

      AND

      REGISTRATION
        RIGHTS AGREEMENT

      

      

      This
        Waiver and Amendment to Certificate of Designation of Series A Convertible
        Preferred Stock, Warrants and Registration Rights Agreement,
        dated
        as of March 23, 2007 (this “Waiver
        and Amendment”),
        is
        entered into by and among Impart Media Group, Inc., a Nevada corporation
        (the
“Company”)
        and
        the holders (collectively, the “Series
        A Holders”)
        of (i)
        the issued and outstanding Series A Convertible Preferred Stock, $.001 par
        value
        per share (the “Series
        A Stock”)
        of the
        Company, and (ii) the common stock purchase warrants issued by the Company
        in
        connection with the issuance of the Series A Stock (the “Warrants”),
        for
        the purpose of waiving certain rights of the Series A Holders under (x)
        Certificate of Designation of Series A Convertible Preferred Stock, as filed
        with the Secretary of State of the State of Nevada on March 2, 2006 (the
        “Certificate
        of Designation”),
        and
        (y) that certain Registration Rights Agreement, dated as of March 2, 2006,
        by
        and between the Company and the Series A Holders, as may be amended, modified
        or
        supplemented from time to time (the “Registration
        Rights Agreement”).
        Capitalized terms used herein without definition shall have the meanings
        ascribed to such terms in the Registration Rights Agreement.

      

      WHEREAS,
        the Company filed a registration statement on Form SB-2 to register the resale
        of the shares of common stock, $.001 par value per share (“Common
        Stock”),
        of
        the Company underlying the Series A Stock (and the related warrants) (the
        “Registration
        Statement”),
        which
        Registration Statement was declared effective by the Securities and Exchange
        Commission (the “Commission”)
        on
        September 1, 2006; 

      

      WHEREAS,
        in a letter dated December 13, 2006, the Company advised the Series A Holders,
        pursuant to Section 3(c)(vi) of the Registration Rights Agreement, to
        discontinue the sale or other disposition of any Registrable Securities under
        the Registration Statement until such time as an amendment (the “Amendment”)
        to the
        Registration Statement has been filed with the Commission;

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      WHEREAS,
        the Company has failed to file the Amendment and, as such, the unavailability
        of
        the Registration Statement is continuing, resulting in the occurrence of
        a
“triggering event” under Sections 8(d)(i) and (vii) of the Certificate of
        Designation (a “Section
        8(d) Triggering Event”);
        

      

      WHEREAS,
        as a result of the occurrence of the Section 8(d) Triggering Event, the Series
        A
        Holders are entitled to require the Company to redeem all or a portion of
        each
        such holder’s shares of Series A Stock; 

      

      WHEREAS,
        as a result of the occurrence of the Section 8(d) Triggering Event, certain
        liquidated damages have accrued and are accruing under Section 7(d) of the
        Registration Rights Agreement (the “Liquidated
        Damages”);
        

      

      WHEREAS,
        pursuant to the terms of the Certificate of Designations and the Registration
        Rights Agreement, the holders of at least seventy-five percent (75%) of the
        Series A Stock and pursuant to the terms of the Warrants, the holders of
        at
        least a majority of the shares of Common Stock underlying the Warrants, have
        the
        right to effect this Waiver and Amendment on behalf of all of the Series
        A
        Holders or Warrant holders, as the case may be, with such Waiver and Amendment
        being binding upon all such holders as if they were a signatory
        hereto;

      

      WHEREAS,
        in consideration of the decrease in the conversion price of the Series A
        Stock
        to $1.00, the decrease in the exercise price of the Warrants to $0.01, and
        the
        other consideration described herein, the Series A Holders have agreed to
        grant
        the waivers described herein;

      

      NOW,
        THEREFORE, in consideration of the above, and for other good and valuable
        consideration, the receipt and sufficiency of which is hereby acknowledged,
        the
        parties hereto agree as follows:

       

      
        	 	
                1.

              	 Registration Rights.
                

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      A. 
         The
        Series A Holders hereby waive (i) any and all breaches of the terms and
        conditions of the Registration Rights Agreement arising from the occurrence
        of
        the Section 8(d) Triggering Event described in the Recitals above through
        the
        date hereof, and (ii) any Liquidated Damages due and payable to the Series
        A
        Holders by the Company accrued through the date hereof. The parties acknowledge
        that aggregate penalties to date would be approximately $202,000.00.

      

      B. 
         The
        Registration Rights Agreement is hereby amended, such that the definitions
        of
“Effectiveness Date” and “Filing Date” in Section 1 thereof shall be deleted in
        their entirety and in substitution thereof the following new definitions
        of
“Effectiveness Date” and “Filing Date” are hereby added:

      

      “‘Effectiveness
        Date’
means
        with respect to the Registration Statement the earlier of (A) the thirtieth
        (30th) day following the Filing Date (or in the event that the Registration
        Statement is reviewed by the Commission, the sixtieth (60th) day following
        the
        date of the first comment letter from the Commission to the Company) or (B)
        the
        date which is five (5) Business Days after the date on which the Commission
        informs the Company that (i) the Commission will not further review the
        Registration Statement or (ii) the Company may request the acceleration of
        the
        effectiveness of the Registration Statement; provided that,
        if the
        Effectiveness Date falls on a Saturday, Sunday or any other day which shall
        be a
        legal holiday or a day on which the Commission is authorized or required
        by law
        or other government actions to close, the Effectiveness Date shall be the
        following Business Day.”

      

      “‘Filing
        Date’
means
        a
        date that is the earlier of (i) fifteen (15) Business Days after the Company
        files with the Commission its proxy statement for the Company’s 2007 annual
        meeting of shareholders, or (ii) May 15, 2007.” 

      

      C. 
         It
        is
        understood that (a) the Registrable Securities, as defined in the Registration
        Rights Agreement, shall hereafter include all shares of Common Stock issuable
        upon conversion of the Series A Stock, including dividends accrued thereon,
        as
        amended hereby (to the extent the Company elects to pay such dividends in
        shares
        of Common Stock), and the shares of Common Stock issuable upon exercise of
        the
        Warrants, as amended hereby, (b) penalties for failure to file a registration
        statement and other events set forth in Section 7(d) of the Registration
        Rights
        Agreement may again accrue based upon the amended definitions of Filing Date
        and
        Effectiveness Date and (c) any benefits deemed to have been provided to the
        Series A Holders hereunder shall not in any way be deemed to limit the potential
        recovery of the Series A Holders under the last sentence of Section
        7(d).

       

      
        	 	
                2.

              	 Certificate of
                Designation.
                

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      A. 
         The
        Series A Holders hereby waive the Section 8(d) Triggering Event described
        in the
        Recitals above and all rights of redemption and fees, interest, dividends
        and
        other amounts payable and applicable to the Section 8(d) Triggering Event
        under
        the Certificate of Designation accrued through the date hereof. 

      

      B.  
         The
        Series A Holders hereby consent to an amendment of the Certificate of
        Designation to delete Section 2(b) in its entirety.

      

      C.  
         The
        Series A Holders hereby waive their right to receive any accrued but unpaid
        dividends on the Series A Stock otherwise payable pursuant to Section 2(a)
        of
        the Certificate of Designation, up to and including accruals through March
        2,
        2007, in approximately the sum of $315,000. On the first business day of
        July,
        2007, holders of record of the Series A Preferred Stock, shall be entitled
        to
        receive the dividends contemplated by Section 2(a) of the Certificate of
        Designation for dividends accrued from March 3, 2007 to the date of payment;
        and
        regular semi-annual dividends shall continue to accrue and be payable in
        accordance with Section 2 thereafter. 

      

      D.    
        The
        definition of “Conversion Price” in Section 5(d)(i) of the Certificate of
        Designation shall be deleted in its entirety and in substitution thereof
        the
        following new Section 5(d)(i) is hereby added in order to reduce the “Conversion
        Price” of the Series A Stock from $1.55 per share to $1.00 per share:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      “The
        term
        "Conversion Price" shall mean $1.00 per share, subject to adjustment under
        Section 5(e) hereof. Notwithstanding any adjustment hereunder, at no time
        shall
        the Conversion Price be greater than $1.00 per share except if it is adjusted
        pursuant to the second sentence of Section 5(e)(i).”

      

      E.  
         Section
        8(h) of the Certificate of Designation (Company Redemption Option) shall
        be
        amended to (a) increase the period of the Company Redemption Notice (as defined
        in the Certificate of Designation) from “ten (10) days’ prior written notice” to
“twenty (20) business days’ prior written notice” of a redemption under Section
        8(h) of the Certificate of Designation (with the holder permitted to exercise
        its conversion rights at any time in accordance with Section 8(h) of the
        Certificate of Designation), (b) reduce the redemption price per share of
        Series
        A Stock from 200% to 100% of the Liquidation Preference Amount (as defined
        in
        the Certificate of Designation) plus any accrued but unpaid dividends, and
        (c)
        change the Company’s Redemption Date (as defined in the Certificate of
        Designation) from the “eleventh (11th)
        day” to
        the “twenty-first (21st)
        business day” after the Company has delivered the Company's Redemption Notice.

      

      F.  
         The
        Series A Holders hereby authorize the proper officers of the Company to prepare,
        execute and file a certificate of amendment to the Certificate of Designation,
        in the form of Exhibit
        A
        annexed
        hereto, to reflect the amendments contemplated in Section 2 of this Amendment
        and Waiver.

      

      3.    Warrants.
        The Series
        A
        Holders agree to waive and delete on behalf of all Warrant holders Section
        4(d)
        of the Warrants, providing for “full-ratchet” anti-dilution rights. Immediately
        after such deletion, the Company
        agrees (a) to decrease the Warrant Price of the Warrants to $0.01 per share
        and
        (b) to delete the Issuer’s Redemption Option in the Warrants, as set forth in
        Section 8 thereof,
        for the
        benefit of all of the Series A Holders, but not for the benefit of the Placement
        Agent. The Company represents and warrants to the Series A Holders that such
        amendment of the Warrants of the Series A Holders does not violate any rights
        of
        the Placement Agent and that the Placement Agent has consented to such
        actions.  The
        Company shall prepare, execute and deliver to each Series A Holder a new
        form of
        amended Warrant (in exchange for the outstanding Warrant currently held by
        such
        Series A Holder, and exercisable for the same number of shares of Common
        Stock)
        in the form of Exhibit
        B
        annexed
        hereto. The Company acknowledges and
        represents (after
        consultation with counsel) that the holding period of such amended Warrant
        shall
        be deemed to have commenced as of March 3, 2006 for purposes of Rule 144(d)
        of
        the Securities Act of 1933, as amended.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        4.    Representations
          and Warranties of the Company.
          The
          Company represents and warrants to the Series A Holders as
          follows:

      

      

      A.   
         The
        Company is a corporation duly incorporated, validly existing and in good
        standing under the laws of the State of Nevada and has the requisite corporate
        power to own, lease and operate its properties and assets and to conduct
        its
        business as it is now being conducted.

       

      B.   
         The
        Company has the requisite corporate power and authority (including all board
        of
        directors and shareholder approvals) to enter into and perform this Waiver
        and
        Amendment, the amendments to the Registration Rights Agreement and the Warrants,
        and to file the amendment to the Certificate of Designations with the Secretary
        of State of the State of Nevada, contemplated hereby and to issue the shares
        of
        Common Stock underlying the Series A Stock and the Warrants in accordance
        with
        the terms hereof.

       

      C.   
         When
        the
        Conversion Shares (as defined in the Certificate of Designation) and the
        Warrant
        Shares (as defined in the Warrants) are issued in accordance with the terms
        of
        the Certificate of Designation and the Warrants, respectively, as amended
        by
        this Waiver and Amendment, such shares will be duly authorized by all necessary
        corporate action and validly issued and outstanding, fully paid and
        nonassessable, and the holders shall be entitled to all rights accorded to
        a
        holder of Common Stock. The amendments contemplated hereunder will not obligate
        the Company to issue any shares of Common Stock , Series A Stock or other
        securities to any other Person (other than the Series A Holders) and will
        not
        result in the adjustment of the exercise, conversion, exchange or reset price
        of
        any outstanding security of the Company.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      D.   
         The
        execution, delivery and performance of this Waiver and Amendment by the Company
        does not and will not (i) violate any provision of the Company’s Articles of
        Incorporation or Bylaws, (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, mortgage, deed of trust, indenture, note,
        bond,
        license, lease agreement, instrument or obligation to which the Company is
        a
        party or by which it or its properties or assets are bound, (iii) create
        or
        impose a lien, mortgage, security interest, charge or encumbrance of any
        nature
        on any property of the Company under any agreement or any commitment to which
        the Company is a party or by which the Company is bound or by which any of
        its
        respective properties or assets are bound, or (iv) result in a violation
        of any
        federal, state, local or foreign statute, rule, regulation, order, judgment
        or
        decree (including Federal and state securities laws and regulations) applicable
        to the Company or any of its subsidiaries or by which any property or asset
        of
        the Company or any of its subsidiaries are bound or affected, except, in
        all
        cases other than violations pursuant to clauses (i) and (iv) above, for such
        conflicts, defaults, terminations, amendments, accelerations, cancellations
        and
        violations as would not, individually or in the aggregate, have a Material
        Adverse Effect.

       

      E.  
         The
        Company has authorized and has reserved and covenants to continue to reserve,
        free of preemptive rights and other similar contractual rights of stockholders,
        a number of shares of Common Stock equal to one hundred ten percent (110%)
        of
        the number of shares of Common Stock as shall from time to time be sufficient
        to
        effect the conversion of all of the shares of Series A Stock and exercise
        of all
        of the Warrants then outstanding.

       

      F.   
         There
        is
        no action, suit, claim, investigation, arbitration, alternate dispute resolution
        proceeding or any other proceeding pending or, to the knowledge of the Company,
        threatened against the Company or any subsidiary which questions the validity
        of
        this Waiver and Amendment or the transactions contemplated hereby or any
        action
        taken or to be taken pursuant hereto.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      G.   
         Neither
        this Waiver and Amendment nor any other documents, certificates or instruments
        furnished to the Series A Holders by or on behalf of the Company in connection
        with the transactions contemplated by this Waiver and Amendment contain any
        untrue statement of a material fact or omit to state a material fact necessary
        in order to make the statements made herein or therein, in the light of the
        circumstances under which they were made herein or therein, not
        misleading.

      

      5.    General.
        Except
        as set forth in this Waiver and Amendment, there are no other amendments
        or
        waivers to the Certificate of Designation, the Warrants or the Registration
        Rights Agreement, and all of the other terms and provisions of the Certificate
        of Designation, the Warrants and the Registration Rights Agreement remain
        in
        full force and effect. 

      

      6.    This
        Waiver
        and Amendment
        shall be
        binding upon the parties hereto and their respective successors and permitted
        assigns and shall inure to the benefit of and be enforce-able by each of
        the
        parties hereto and its successors and permitted assigns. THIS
        WAIVER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY
        THE
        LAW OF THE STATE OF NEW YORK.
        This
        Waiver may be executed in any number of counterparts, each of which shall
        be an
        original, but all of which shall constitute one instrument. 

      

      7.    The
        Company shall pay all actual attorneys' fees and expenses (including
        disbursements and out-of-pocket expenses) incurred by the Series A Holders
        in
        connection with the preparation, negotiation, execution and delivery of this
        Waiver and Amendment, and the amendments to the Certificate of Designation,
        the
        Warrants, and the Registration Rights Agreement, which payment shall not
        exceed
        $5,000.00.

      

      [Remainder
        of page intentionally left blank.]

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF,
        each of
        the Company and the Series A Holders representing at least seventy-five percent
        (75%) of the Series A Stock and a majority of holders of Common Stock underlying
        the Warrants has caused this Waiver and Amendment to Certificate of Designation
        of Series A Convertible Preferred Stock, Warrants and Registration
        Rights Agreement signed in its name effective as of the date first set forth
        above.

      

      

      
        	 	
                IMPART
                  MEDIA GROUP, INC.

              
	 	 	 
	 	 	 
	 	
                By:

              	
                /s/
                  Thomas Muniz

              
	 	 	
                Name:
                  Thomas Muniz

              
	 	 	
                Title:  
                   President

              

      

       

      
        	 	
                ENABLE
                  GROWTH PARTNERS LP

              
	 	 	 
	 	By:	/s/
                Brendan O’Neil
	 	
                 

              	
                Name:
                  Brendan O’Neil

                Title:  
                  Principal and Portfolio Manager

              
	 	 	 
	 	
                ENABLE
                  OPPORTUNITY PARTNERS LP

              
	 	 	 
	 	By:	/s/
                Brendan O’Neil
	 	
                 

              	
                Name:
                  Brendan O’Neil

                Title: 
                   Principal and Portfolio Manager

              
	 	 	 
	 	
                PIERCE
                  DIVERSIFIED STRATEGY MASTER FUND LLCP

              
	 	 	 
	 	By:	/s/
                Brendan O’Neil
	 	
                 

              	
                Name:
                  Brendan O’Neil

                Title: 
                   Principal and Portfolio Manager

              
	 	 	 
	 	
                GRYPHON
                  MASTER FUND, L.P.

              
	 	 	 
	 	By:	/s/
                E.B. Lyon, IV
	 	
                 

              	
                Name:
                  E.B. Lyon, IV

                Title: 
                   Authorized Agent

              
	 	 	 
	 	 	 
	 	
                GSSF
                  MASTER FUND, LP

              
	 	 
	 	By:	/s/
                E.B. Lyon, IV
	 	
                 

              	
                Name:
                  E.B. Lyon, IV

                Title: 
                   Authorized Agent

              
	 	 	 
	 	
                HUDSON
                  BAY FUND LP

              
	 	 	 
	 	By:	/s/
                Yoav Roth
	 	
                 

              	
                Name:
                  Yoav Roth

                Title: 
                   Portfolio Manager

              

      

       

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        Exhibit
          A

        

        CERTIFICATE
          OF AMENDMENT

        TO

        CERTIFICATE
          OF DESIGNATION OF THE RELATIVE RIGHTS AND PREFERENCES

        OF
          THE

        SERIES
          A CONVERTIBLE PREFERRED STOCK

        OF

        IMPART
          MEDIA GROUP, INC. 

         

        The
          undersigned, the Chief Executive Officer of Impart Media Group, Inc. (the
          “Company”),
          a
          corporation organized and existing under the Revised Statutes of the State
          of
          Nevada (“NRS”), does hereby certify that, pursuant to authority conferred upon
          the board of directors of the Company (the “Board of Directors”) by its Articles
          of Incorporation, and in order to amend the Certificate of Designation
          of
          the
          Relative Rights and Preferences
          of the
Series
          A
          Convertible Preferred Stock
          of the
          Company (the “Certificate of Designation”) pursuant to Section 78.1955 of the
          NRS, the Board of Directors, by unanimous written consent dated as of March
          __,
          2007, duly approved and adopted the following resolution (the
“Resolution”):

        

        WHEREAS,
          the Certificate of Designation of the Company was filed by the Secretary
          of
          State of the State of Nevada on March 2, 2006; 

        

        WHEREAS,
          the
          Board
          of Directors considers it advisable and hereby desires,
          pursuant to such authority, to amend the terms and provisions of the Certificate
          of Designation;

        

        WHEREAS,
          the
          holders of at least seventy-five percent (75%) of the Series A Convertible
          Preferred Stock, pursuant to Section
          78.1955(3) of the NRS and Section 10 of the Certificate of Designation,
          approved
          by written consent
          the
          terms and filing of a Certificate
          of Amendment
          to the Certificate
          of
          Designation to
          amend
          the Certificate
          of
          Designation; and

        

        NOW,
          THEREFORE, BE IT RESOLVED, that the Board
          of
          Directors hereby
          adopts and approves the following amendments to the Certificate of Designation
          on the terms and with the provisions herein set forth on Annex
          A
          attached
          to this resolution.

        

        
          	 	
                   

                
	 	
                  Name:
                    Joseph F. Martinez

                
	 	
                  Title:
                    Chief Executive Officer

                

        

        ATTEST:

        

        
          	
                   

                	 
	
                  Name:
                    Thomas C. Muniz

                	 
	
                  Title:
                    President

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        ANNEX
          A

        

        SERIES
          A
          CONVERTIBLE PREFERRED STOCK

        

        The
          powers, designations, preferences and relative, participating, optional
          or other
          rights of the Series A Convertible Preferred Stock of Company are hereby
          amended
          as follows:

        

        1.    
Section
          2(b) is hereby deleted in its entirety.

        

        2.    
Section
          5(d)(i) is hereby deleted in its entirety and in substitution thereof the
          following new Section 5(d)(i) is hereby added:

        

        “The
          term
“Conversion Price” shall mean $1.00 per share, subject to adjustment under
          Section 5(e) hereof. Notwithstanding any adjustment hereunder, at no time
          shall
          the Conversion Price be greater than $1.00 per share except if it is adjusted
          pursuant to the second sentence of Section 5(e)(i).”

        

        3.    
Section
          8(h) is hereby deleted in its entirety and in substitution thereof the
          following
          new Section 5(d)(i) is hereby added:

        

        “Company's
          Redemption Option.
          At any
          time while there is an effective registration statement permitting resale
          of the
          shares of Common Stock issuable upon conversion of the Series A Preferred
          Stock,
          the Company may redeem all of the Series A Preferred Stock outstanding
          upon
          twenty (20) business days’ prior written notice (the “Company's Redemption
          Notice”) at a price per share of Series A Preferred Stock equal to one hundred
          percent (100%) of the Liquidation Preference Amount plus any accrued but
          unpaid
          dividends; provided,
          that if
          a holder has delivered a Conversion Notice to the Company or delivers a
          Conversion Notice prior to the Company’s Redemption Date (as defined below), all
          of the shares of Series A Preferred Stock designated to be redeemed may
          be
          converted by such holder; provided further
          that if
          during the period between delivery of the Company's Redemption Notice and
          the
          Redemption Date a holder shall become entitled to deliver a Notice of Redemption
          at Option of Buyer Upon Major Transaction, then the right of such holder
          shall
          take precedence over the previously delivered Company Redemption Notice.
          The
          Company's Redemption Notice shall state the date of redemption which date
          shall
          be the twenty-first (21st) business day after the Company has delivered
          the
          Company's Redemption Notice (the “Company’s Redemption Date”), the Company's
          Redemption Price and the number of shares to be redeemed by the Company.
          The
          Company shall not send a Company's Redemption Notice unless it has good
          and
          clear funds for a minimum of the amount it intends to redeem in a bank
          account
          controlled by the Company. The Company shall deliver the Company's Redemption
          Price to the holder(s) on the Company's Redemption Date, provided,
          that if
          the holder(s) delivers a Conversion Notice before the Company’s Redemption Date,
          then the portion of the Company’s Redemption Price which would be paid to redeem
          the shares of Series A Preferred Stock covered by such Conversion Notice
          shall
          be returned to the Company upon delivery of the Common Stock issuable in
          connection with such Conversion Notice to the holder(s). On the Company’s
          Redemption Date, the Company shall pay the Company's Redemption Price,
          subject
          to any adjustment pursuant to the immediately preceding sentence, to the
          holder(s) on a pro rata basis, provided,
          however, that upon receipt by the Company of the Preferred Stock Certificates
          to
          be redeemed pursuant to this Section 8(h), the Company shall, on the next
          business day following the date of receipt by the Company of such Preferred
          Stock Certificates, pay the Company's Redemption Price to the holder(s)
          on a pro
          rata basis. If the Company fails to pay the Company’s Redemption Price by the
          Company’s Redemption Date, the redemption will be declared null and void and the
          Company shall lose its right to serve a Company's Redemption Notice in
          the
          future.”

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        
          
            Exhibit
              B

            

            THIS
              WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF
              HAVE NOT
              BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
              ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED
              OR OTHERWISE
              DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE
              STATE SECURITIES LAWS OR THE ISSUER SHALL HAVE RECEIVED AN OPINION
              OF COUNSEL
              REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION OF SUCH SECURITIES
              UNDER
              THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES
              LAWS
              IS NOT REQUIRED.

            

            AMENDED
              AND RESTATED

            

            WARRANT
              TO PURCHASE

            

            SHARES
              OF
              COMMON STOCK

            

            OF

            

            IMPART
              MEDIA GROUP, INC.

            

            

            Expires
              March 2, 2009

            

            
              	
                      No.:
                        W-07- __

                    	
                      Number
                        of Shares: ___________

                    

            

            Original
              Date of Issuance: March 3, 2006

            Date
              of
              Amended and Restated Warrant: March __, 2007

            

            

            FOR
              VALUE
              RECEIVED, subject to the provisions hereinafter set forth, the undersigned,
              Impart Media Group, Inc., a Nevada corporation (together with its successors
              and
              assigns, the "Issuer"),
              hereby certifies that _______________________________ or its registered
              assigns
              (the “Holder”)
              is
              entitled to subscribe for and purchase, during the Term (as hereinafter
              defined), up to ____________________________________ (_____________)
              shares
              (subject to adjustment as hereinafter provided) of the duly authorized,
              validly
              issued, fully paid and non-assessable Common Stock of the Issuer, at
              an exercise
              price per share equal to the Warrant Price then in effect, on the terms
              and
              conditions hereinafter set forth. Capitalized terms used in this Warrant
              and not
              otherwise defined herein shall have the respective meanings specified
              in Section
              8 hereof.

            

            1.    Term.
              The
              term of this Warrant commenced on March 3, 2006 (the “Original
              Issue Date”)
              and
              shall expire at 6:00 p.m., eastern time, on March 2, 2009 (such period
              being the
              "Term").

            
              
                
                

              

              
                -
                  1
                  -

                
                  

                

              

              
                
                

              

            

            
              	 	
                      2.

                    	
                      Method
                        of Exercise; Payment; Issuance of New Warrant; Transfer and
                        Exchange.

                    

            

            

            (a)    Time
              of Exercise.
              The
              purchase rights represented by this Warrant may be exercised in whole
              or in part
              during the Term. 

            

            (b)    Method
              of Exercise.
              The
              Holder hereof may exercise this Warrant, in whole or in part, by the
              surrender
              of this Warrant (with the exercise form attached hereto as Exhibit
              A
              duly
              executed) at the principal office of the Issuer, and by the payment
              to the
              Issuer of an amount of consideration therefor equal to the Warrant
              Price in
              effect on the date of such exercise multiplied by the number of shares
              of
              Warrant Stock with respect to which this Warrant is then being exercised,
              payable at such Holder’s election (i) by certified or official bank check or
by
              wire
              transfer to an account designated by the Issuer,
              (ii) by
              "cashless exercise" in accordance with the provisions of subsection
              (c) of this
              Section 2, but only when a registration statement under the Securities
              Act
              providing for the resale of the Warrant Stock is not then in effect,
              or (iii) by
              a combination of the foregoing methods of payment selected by the Holder
              of this
              Warrant.

            

            (c)    Cashless
              Exercise.
              Notwithstanding any provisions herein to the contrary, if, the Per
              Share Market
              Value of one share of Common Stock is greater than the Warrant Price
              (at the
              date of calculation as set forth below), in lieu of exercising this
              Warrant by
              payment of cash, the Holder may exercise this Warrant by a cashless
              exercise and
              shall receive the number of shares of Common Stock equal to an amount
              (as
              determined below) by surrender of this Warrant at the principal office
              of the
              Issuer together with the properly endorsed Notice of Exercise in which
              event the
              Issuer shall issue to the Holder a number of shares of Common Stock
              computed
              using the following formula:

            

            X
              = Y -
(A)(Y)

             
              B

            

            
              	Where	
                      X
                        =         the
                        number of shares of Common Stock to be issued to the
                        Holder.

                    

            

            

            
              	 	
                      Y
                        =

                    	
                      the
                        number of shares of Common Stock purchasable upon exercise
                        of all of the
                        Warrant or, if only a portion of the Warrant is being exercised,
                        the
                        portion of the Warrant being exercised.

                    

            

            

            
              	 	
                      A
                        =

                    	
                      the
                        Warrant Price. 

                    

            

            

            
              	 	
                      B
                        =

                    	
                      the
                        Per Share Market Value of one share of Common
                        Stock.

                    

            

            

            (d)    Issuance
              of Stock Certificates.
              In the
              event of any exercise of this Warrant in accordance with and subject
              to the
              terms and conditions hereof, (i) certificates for the shares of Warrant
              Stock so
              purchased shall be delivered to the Holder hereof within a reasonable
              time, not
              exceeding three (3) Trading Days after such exercise (the “Delivery
              Date”)
              or, at
              the request of the Holder (provided that a registration statement under
              the
              Securities Act providing for the resale of the Warrant Stock is then
              in effect),
              issued and delivered to the Depository Trust Company (“DTC”)
              account on the Holder’s behalf via the Deposit Withdrawal Agent Commission
              System (“DWAC”)
              within
              a reasonable time, not exceeding three (3) Trading Days after such
              exercise
              (provided, however that the Issuer or its transfer agent shall only
              be obligated
              to issue and deliver the shares to the DTC on the Holder’s behalf via DWAC or
              certificates free of restrictive legends if such exercise is in connection
              with
              a sale (as evidenced by documentation furnished to and reasonably satisfactory
              to the Issuer) and the registration statement providing for the resale
              of the
              Warrant Stock is effective, and the Holder hereof shall be deemed for
              all
              purposes to be the holder of the shares of Warrant Stock so purchased
              as of the
              date of such exercise and (ii) unless this Warrant has expired, a new
              Warrant
              representing the number of shares of Warrant Stock, if any, with respect
              to
              which this Warrant shall not then have been exercised (less any amount
              thereof
              which shall have been canceled in payment or partial payment of the
              Warrant
              Price as hereinabove provided) shall also be issued to the Holder hereof
              at the
              Issuer's expense within such time.

            
              
                
                

              

              
                -
                  2
                  -

                
                  

                

              

              
                
                

              

            

            (e)    Compensation
              for Buy-In on Failure to Timely Deliver Certificates Upon
              Exercise.
              In
              addition to any other rights available to the Holder, if the Issuer
              fails to
              cause its transfer agent to transmit to the Holder a certificate or
              certificates
              representing the Warrant Stock pursuant to an exercise on or before
              the Delivery
              Date, and if after such date the Holder is required by its broker to
              purchase
              (in an open market transaction or otherwise) shares of Common Stock
              to deliver
              in satisfaction of a sale by the Holder of the Warrant Stock which
              the Holder
              anticipated receiving upon such exercise (a “Buy-In”),
              then
              the Issuer shall (1) pay in cash to the Holder the amount by which
              (x) the
              Holder’s total purchase price (including brokerage commissions, if any) for
              the
              shares of Common Stock so purchased exceeds (y) the amount obtained
              by
              multiplying (A) the number of shares of Warrant Stock that the Issuer
              was
              required to deliver to the Holder in connection with the exercise at
              issue times
              (B) the price at which the sell order giving rise to such purchase
              obligation
              was executed, and (2) at the option of the Holder, either reinstate
              the portion
              of the Warrant and equivalent number of shares of Warrant Stock for
              which such
              exercise was not honored or deliver to the Holder the number of shares
              of Common
              Stock that would have been issued had the Issuer timely complied with
              its
              exercise and delivery obligations hereunder. For example, if the Holder
              purchases Common Stock having a total purchase price of $11,000 to
              cover a
              Buy-In with respect to an attempted exercise of shares of Common Stock
              with an
              aggregate sale price giving rise to such purchase obligation of $10,000,
              under
              clause (1) of the immediately preceding sentence the Issuer shall be
              required to
              pay the Holder $1,000. The Holder shall provide the Issuer written
              notice
              indicating the amounts payable to the Holder in respect of the Buy-In,
              together
              with applicable confirmations and other evidence reasonably requested
              by the
              Issuer. Nothing herein shall limit a Holder’s right to pursue any other remedies
              available to it hereunder, at law or in equity including, without limitation,
              a
              decree of specific performance and/or injunctive relief with respect
              to the
              Issuer’s failure to timely deliver certificates representing shares of Common
              Stock upon exercise of this Warrant as required pursuant to the terms
              hereof.

             

            (f)    Transferability
              of Warrant.
              Subject
              to Section 2(h) hereof, this Warrant, and the rights evidenced hereby,
              may be
              transferred by a Holder, in whole or in part, without the consent of
              the Issuer.
              If transferred pursuant to this paragraph, this Warrant may be transferred
              on
              the books of the Issuer by the Holder hereof in person or by duly authorized
              attorney, upon surrender of this Warrant at the principal office of
              the Issuer,
              properly endorsed (by the Holder executing an assignment in the form
              attached
              hereto) and upon payment of any necessary transfer tax or other governmental
              charge imposed upon such transfer. This Warrant is exchangeable at
              the principal
              office of the Issuer for Warrants to purchase the same aggregate number
              of
              shares of Warrant Stock, each new Warrant to represent the right to
              purchase
              such number of shares of Warrant Stock as the Holder hereof shall designate
              at
              the time of such exchange. All Warrants issued on transfers or exchanges
              shall
              be dated the Original Issue Date and shall be identical with this Warrant
              except
              as to the number of shares of Warrant Stock issuable pursuant
              thereto.

            
              
                
                

              

              
                -
                  3
                  -

                
                  

                

              

              
                
                

              

            

            (g)    Continuing
              Rights of Holder.
              The
              Issuer will, at the time of or at any time after each exercise of this
              Warrant,
              upon the request of the Holder hereof, acknowledge in writing the extent,
              if
              any, of its continuing obligation to afford to such Holder all rights
              to which
              such Holder shall continue to be entitled after such exercise in accordance
              with
              the terms of this Warrant, provided
              that if
              any such Holder shall fail to make any such request, the failure shall
              not
              affect the continuing obligation of the Issuer to afford such rights
              to such
              Holder.

            

            (h)    Compliance
              with Securities Laws.

            

            (i)    The
              Holder of this Warrant, by acceptance hereof, acknowledges that this
              Warrant and
              the shares of Warrant Stock to be issued upon exercise hereof are being
              acquired
              solely for the Holder's own account and not as a nominee for any other
              party,
              and for investment, and that the Holder will not offer, sell or otherwise
              dispose of this Warrant or any shares of Warrant Stock to be issued
              upon
              exercise hereof except pursuant to an effective registration statement,
              or an
              exemption from registration, under the Securities Act and any applicable
              state
              securities laws.

            

            (ii)    Except
              as
              provided in paragraph (iii) below, this Warrant and all certificates
              representing shares of Warrant Stock issued upon exercise hereof shall
              be
              stamped or imprinted with a legend in substantially the following
              form:

            

            THIS
              WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF
              HAVE NOT
              BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
              ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED
              OR OTHERWISE
              DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE
              STATE SECURITIES LAWS OR THE ISSUER SHALL HAVE RECEIVED AN OPINION
              OF COUNSEL
              REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION OF SUCH SECURITIES
              UNDER
              THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES
              LAWS
              IS NOT REQUIRED.

            

            (iii)   The
              Issuer agrees to reissue this Warrant or certificates representing
              any of the
              Warrant Stock, without the legend set forth above if at such time,
              prior to
              making any transfer of any such securities, the Holder shall give written
              notice
              to the Issuer describing the manner and terms of such transfer. Such
              proposed
              transfer will not be effected until: either (i) the Issuer has received
              an
              opinion of counsel reasonably satisfactory to the Issuer, to the effect
              that the
              registration of such securities under the Securities Act is not required
              in
              connection with such proposed transfer (which condition shall be satisfied
              by
              the receipt of an executed Notice of Effectiveness of Registration
              Statement
              contemplated by the Purchase Agreement), (ii) a registration statement
              under the
              Securities Act covering such proposed disposition has been filed by
              the Issuer
              with the Securities and Exchange Commission and has become effective
              under the
              Securities Act, (iii) the Issuer has received other evidence reasonably
              satisfactory to the Issuer that such registration and qualification
              under the
              Securities Act and state securities laws are not required, or (iv)
              the Holder
              provides the Issuer with reasonable assurances that such security can
              be sold
              pursuant to Rule 144 under the Securities Act. The Issuer will respond
              to any
              such notice from a holder within three (3) business days and, to the
              extent the
              above conditions are satisfied, will cause its transfer agent to remove
              the
              legend set forth above. In the case of any proposed transfer under
              this Section
              2(h), the Issuer will use reasonable efforts to comply with any such
              applicable
              state securities or "blue sky" laws, but shall in no event be required,
              (x) to
              qualify to do business in any state where it is not then qualified,
              (y) to take
              any action that would subject it to tax or to the general service of
              process in
              any state where it is not then subject, or (z) to comply with state
              securities
              or “blue sky” laws of any state for which registration by coordination is
              unavailable to the Issuer. The restrictions on transfer contained in
              this
              Section 2(h) shall be in addition to, and not by way of limitation
              of, any other
              restrictions on transfer contained in any other section of this Warrant.
              Whenever
              a
              certificate representing the Warrant Stock is required to be issued
              to a the
              Holder without a legend, in lieu of delivering physical certificates
              representing the Warrant Stock, provided the Issuer’s transfer agent is
              participating in the DTC Fast Automated Securities Transfer program,
              the Issuer
              shall use its reasonable best efforts to cause its transfer agent to
              electronically transmit the Warrant Stock to the Holder by crediting
              the account
              of the Holder's Prime Broker with DTC through its DWAC system (to the
              extent not
              inconsistent with any provisions of this Warrant or the Purchase
              Agreement). 

            
              
                
                

              

              
                -
                  4
                  -

                
                  

                

              

              
                
                

              

            

            (iv)   Accredited
              Investor Status.
              In no
              event may the Holder exercise this Warrant in whole or in part unless
              the Holder
              is an “accredited investor” as defined in Regulation D under the Securities Act.

            

            3.     
              Stock
              Fully Paid; Reservation and Listing of Shares; Covenants.

            

            (a)    Stock
              Fully Paid.
              The
              Issuer represents, warrants, covenants and agrees that all shares of
              Warrant
              Stock which may be issued upon the exercise of this Warrant or otherwise
              hereunder will, when issued in accordance with the terms of this Warrant,
              be
              duly authorized, validly issued, fully paid and nonassessable and free
              from all
              taxes, liens and charges created by or through the Issuer. The Issuer
              further
              covenants and agrees that during the period within which this Warrant
              may be
              exercised, the Issuer will at all times have authorized and reserved
              for the
              purpose of issuance upon exercise of this Warrant a number of authorized
              but
              unissued shares of Common Stock equal to at least one hundred ten percent
              (110%)
              of the aggregate number of shares of Common Stock to provide for the
              exercise of
              this Warrant.

            
              
                
                

              

              
                -
                  5
                  -

                
                  

                

              

              
                
                

              

            

            (b)    Reservation.
              If any
              shares of Common Stock required to be reserved for issuance upon exercise
              of
              this Warrant or as otherwise provided hereunder require registration
              or
              qualification with any Governmental Authority under any federal or
              state law
              before such shares may be so issued, the Issuer will in good faith
              use its best
              efforts as expeditiously as possible at its expense to cause such shares
              to be
              duly registered or qualified. If the Issuer shall list any shares of
              Common
              Stock on any securities exchange or market it will, at its expense,
              list
              thereon, and maintain and increase when necessary such listing, of,
              all shares
              of Warrant Stock from time to time issued upon exercise of this Warrant
              or as
              otherwise provided hereunder (provided that such Warrant Stock has
              been
              registered pursuant to a registration statement under the Securities
              Act then in
              effect), and, to the extent permissible under the applicable securities
              exchange
              rules, all unissued shares of Warrant Stock which are at any time issuable
              hereunder, so long as any shares of Common Stock shall be so listed.
              The Issuer
              will also so list on each securities exchange or market, and will maintain
              such
              listing of, any other securities which the Holder of this Warrant shall
              be
              entitled to receive upon the exercise of this Warrant if at the time
              any
              securities of the same class shall be listed on such securities exchange
              or
              market by the Issuer.

            

            (c)    Covenants.
              The
              Issuer shall not by any action including, without limitation, amending
              the
              Articles of Incorporation or the by-laws of the Issuer, or through
              any
              reorganization, transfer of assets, consolidation, merger, dissolution,
              issue or
              sale of securities or any other action, 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
              actions as may be necessary or appropriate to protect the rights of
              the Holder
              hereof against dilution (to the extent specifically provided herein)
              or
              impairment. Without limiting the generality of the foregoing, the Issuer
              will
              (i) not permit the par value, if any, of its Common Stock to exceed
              the then
              effective Warrant Price, (ii) not amend or modify any provision of
              the Articles
              of Incorporation or by-laws of the Issuer in any manner that would
              adversely
              affect the rights of the Holders of the Warrants, (iii) take all such
              action as
              may be reasonably necessary in order that the Issuer may validly and
              legally
              issue fully paid and nonassessable shares of Common Stock, free and
              clear of any
              liens, claims, encumbrances and restrictions (other than as provided
              herein)
              upon the exercise of this Warrant, and (iv) use its best efforts to
              obtain all
              such authorizations, exemptions or consents from any public regulatory
              body
              having jurisdiction thereof as may be reasonably necessary to enable
              the Issuer
              to perform its obligations under this Warrant.

            

            (d)    Loss,
              Theft, Destruction of Warrants.
              Upon
              receipt of evidence satisfactory to the Issuer of the ownership of
              and the loss,
              theft, destruction or mutilation of any Warrant and, in the case of
              any such
              loss, theft or destruction, upon receipt of indemnity or security satisfactory
              to the Issuer or, in the case of any such mutilation, upon surrender
              and
              cancellation of such Warrant, the Issuer will make and deliver, in
              lieu of such
              lost, stolen, destroyed or mutilated Warrant, a new Warrant of like
              tenor and
              representing the right to purchase the same number of shares of Common
              Stock.

            

            (e)    Payment
              of Taxes.
              The
              Issuer will pay any documentary stamp taxes attributable to the initial
              issuance
              of Warrant Stock issuable upon exercise of the Warrant; provided, however,
              that
              the Issuer shall not be required to pay any tax or taxes which may
              be payable in
              respect of any transfer involved in the issuance or delivery of any
              certificates
              for Warrant Stock in a name other than that of the Holder in respect
              of which
              such shares are issued.

            
              
                
                

              

              
                -
                  6
                  -

                
                  

                

              

              
                
                

              

            

            4.    Adjustment
              of Warrant Price.
              The
              price at which such shares of Warrant Stock may be purchased upon exercise
              of
              this Warrant and the Warrant Share Number shall be subject to adjustment
              from
              time to time as set forth in this Section 4. The Issuer shall give
              the Holder
              notice of any event described below which requires an adjustment pursuant
              to
              this Section 4 in accordance with the notice provisions set forth in
              Section
              5.

            

            (a)    Recapitalization,
              Reorganization, Reclassification, Consolidation, Merger or Sale.

             

            (i)  
               In case the Issuer after the Original Issue Date shall do any of the
              following (each, a "Triggering
              Event"):
              (a)
              consolidate or merge with or into any other Person and the Issuer shall
              not be
              the continuing or surviving corporation of such consolidation or merger,
              or (b)
              permit any other Person to consolidate with or merge into the Issuer
              and the
              Issuer shall be the continuing or surviving Person but, in connection
              with such
              consolidation or merger, any Capital Stock of the Issuer shall be changed
              into
              or exchanged for Securities of any other Person or cash or any other
              property,
              or (c) transfer all or substantially all of its properties or assets
              to any
              other Person, or (d) effect a capital reorganization or reclassification
              of its
              Capital Stock, then, and as a condition to such Triggering Event, proper
              and
              adequate provision shall be made so that, upon the basis and the terms
              and in
              the manner provided in this Warrant, the Holder of this Warrant shall
              be
              entitled upon the exercise hereof at any time after the consummation
              of such
              Triggering Event, to the extent this Warrant is not exercised prior
              to such
              Triggering Event, to receive at the Warrant Price in effect at the
              time
              immediately prior to the consummation of such Triggering Event in lieu
              of the
              Common Stock issuable upon such exercise of this Warrant prior to such
              Triggering Event, the Securities, cash and property to which such Holder
              would
              have been entitled upon the consummation of such Triggering Event if
              such Holder
              had exercised the rights represented by this Warrant immediately prior
              thereto
              (including the right of a shareholder to elect the type of consideration
              it will
              receive upon a Triggering Event), subject to adjustments (subsequent
              to such
              corporate action) as nearly equivalent as possible to the adjustments
              provided
              for elsewhere in this Section 4. Notwithstanding the foregoing to the
              contrary,
              this Section 4(a)(i) shall only apply if the surviving entity pursuant
              to any
              such Triggering Event is a public company that is
              registered pursuant to the Securities Exchange Act of 1934, as amended,
              and its
              common stock is listed or quoted on a national exchange or the OTC
              Bulletin
              Board. In the event that the
              surviving entity pursuant to any such Triggering Event is not a public
              company
              that is
              registered pursuant to the Securities Exchange Act of 1934, as amended,
              or its
              common stock is not listed or quoted on a national exchange or the
              OTC Bulletin
              Board, then the Holder shall have the right to demand that the Issuer
              pay to the
              Holder an amount equal to the value of this Warrant according to the
              Black-Scholes formula.

            

            (ii)  
               Notwithstanding
              anything contained in this Warrant to the contrary and so long as the
              surviving
              entity pursuant to any Triggering Event is a public company that is
              registered pursuant to the Securities Exchange Act of 1934, as amended,
              and its
              common stock is listed or quoted on a national exchange or the OTC
              Bulletin
              Board,
              a
              Triggering Event shall not be deemed to have occurred if, prior to
              the
              consummation thereof, each Person (other than the Issuer) which may
              be required
              to deliver any Securities, cash or property upon the exercise of this
              Warrant as
              provided herein shall assume, by written instrument delivered to, and
              reasonably
              satisfactory to, the Holder of this Warrant, (A) the obligations of
              the Issuer
              under this Warrant (and if the Issuer shall survive the consummation
              of such
              Triggering Event, such assumption shall be in addition to, and shall
              not release
              the Issuer from, any continuing obligations of the Issuer under this
              Warrant)
              and (B) the obligation to deliver to such Holder such Securities, cash
              or
              property as, in accordance with the foregoing provisions of this subsection
              (a),
              such Holder shall be entitled to receive, and such Person shall have
              similarly
              delivered to such Holder an opinion of counsel for such Person, which
              counsel
              shall be reasonably satisfactory to such Holder, or in the alternative,
              a
              written acknowledgement executed by the President or Chief Financial
              Officer of
              the Issuer, stating that this Warrant shall thereafter continue in
              full force
              and effect and the terms hereof (including, without limitation, all
              of the
              provisions of this subsection (a)) shall be applicable to the Securities,
              cash
              or property which such Person may be required to deliver upon any exercise
              of
              this Warrant or the exercise of any rights pursuant hereto. 

            
              
                
                

              

              
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            (b)    Stock
              Dividends, Subdivisions and Combinations.
              If at
              any time the Issuer shall:

            

            (i)    make
              or
              issue or set a record date for the holders of the Common Stock for
              the purpose
              of entitling them to receive a dividend payable in, or other distribution
              of,
              shares of Common Stock, 

            

            (ii)   subdivide
              its outstanding shares of Common Stock into a larger number of shares
              of Common
              Stock, or

            

            (iii)   combine
              its outstanding shares of Common Stock into a smaller number of shares
              of Common
              Stock,

            

            then
              (1)
              the number of shares of Common Stock for which this Warrant is exercisable
              immediately after the occurrence of any such event shall be adjusted
              to equal
              the number of shares of Common Stock which a record holder of the same
              number of
              shares of Common Stock for which this Warrant is exercisable immediately
              prior
              to the occurrence of such event would own or be entitled to receive
              after the
              happening of such event, and (2) the Warrant Price then in effect shall
              be
              adjusted to equal (A) the Warrant Price then in effect multiplied by
              the number
              of shares of Common Stock for which this Warrant is exercisable immediately
              prior to the adjustment divided by (B) the number of shares of Common
              Stock for
              which this Warrant is exercisable immediately after such
              adjustment.

            

            (c)    Certain
              Other Distributions.
              If at
              any time the Issuer shall make or issue or set a record date for the
              holders of
              the Common Stock for the purpose of entitling them to receive any divi-dend
              or
              other distribution of:

            

            (i)    cash
              (other than a cash dividend payable out of earnings or earned surplus
              legally
              available for the payment of dividends under the laws of the jurisdiction
              of
              incorporation of the Issuer),

            
              
                
                

              

              
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            (ii)    any
              evidences of its indebtedness, any shares of stock of any class or
              any other
              securities or property of any nature whatsoever (other than cash, Common
              Stock
              Equivalents or Additional Shares of Common Stock), or

            

            (iii)   any
              warrants or other rights to subscribe for or purchase any evidences
              of its
              indebtedness, any shares of stock of any class or any other securities
              or
              property of any nature whatsoever (other than cash, Common Stock Equivalents
              or
              Additional Shares of Common Stock), 

            

            then
              (1)
              the number of shares of Common Stock for which this Warrant is exercisable
              shall
              be adjusted to equal the product of the number of shares of Common
              Stock for
              which this Warrant is exercisable immediately prior to such adjustment
              multiplied by a fraction (A) the numerator of which shall be the Per
              Share
              Market Value of Common Stock at the date of taking such record and
              (B) the
              denominator of which shall be such Per Share Market Value minus the
              amount
              allocable to one share of Common Stock of any such cash so distributable
              and of
              the fair value (as determined in good faith by the Board of Directors
              of the
              Issuer and supported by an opinion from an investment banking firm
              of recognized
              national standing acceptable to (but not affiliated with) the Holder)
              of any and
              all such evidences of indebtedness, shares of stock, other securities
              or
              property or warrants or other subscription or purchase rights so distributable,
              and (2) the Warrant Price then in effect shall be adjusted to equal
              (A) the
              Warrant Price then in effect multiplied by the number of shares of
              Common Stock
              for which this Warrant is exercisable immediately prior to the adjustment
              divided by (B) the number of shares of Common Stock for which this
              Warrant is
              exercisable immediately after such adjustment. A reclassification of
              the Common
              Stock (other than a change in par value, or from par value to no par
              value or
              from no par value to par value) into shares of Common Stock and shares
              of any
              other class of stock shall be deemed a distribution by the Issuer to
              the holders
              of its Common Stock of such shares of such other class of stock within
              the
              meaning of this Section 4(c) and, if the outstanding shares of Common
              Stock
              shall be changed into a larger or smaller number of shares of Common
              Stock as a
              part of such reclassification, such change shall be deemed a subdivision
              or
              combination, as the case may be, of the outstanding shares of Common
              Stock
              within the meaning of Section 4(b). 

            

            (d)    Issuance
              of Common Stock Equivalents.
              If at
              any time the Issuer shall take a record of the holders of its Common
              Stock for
              the purpose of entitling them to receive a distribution of, or shall
              in any
              manner (whether directly or by assumption in a merger in which the
              Issuer is the
              surviving corporation) issue or sell, any Common Stock Equivalents,
              whether or
              not the rights to exchange or convert thereunder are immediately exercisable,
              and the price per share for which Common Stock is issuable upon such
              conversion
              or exchange shall be less than the Warrant Price in effect immediately
              prior to
              the time of such issue or sale, or if, after any such issuance of Common
              Stock
              Equivalents, the price per share for which Additional Shares of Common
              Stock may
              be issuable thereafter is amended or adjusted, and such price as so
              amended
              shall be less than the Warrant Price in effect at the time of such
              amendment or
              adjustment, then the Warrant Price then in effect shall be adjusted
              as provided
              in Section 4(c). No further adjustments of the number of shares of
              Common Stock
              for which this Warrant is exercisable and the Warrant Price then in
              effect shall
              be made upon the actual issue of such Common Stock upon conversion
              or exchange
              of such Common Stock Equivalents.

            
              
                
                

              

              
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            (e)    Other
              Provisions Applicable to Adjustments under this Section.
              The
              following provisions shall be ap-plicable to the making of adjustments
              of the
              number of shares of Common Stock for which this Warrant is exercisable
              and the
              Warrant Price then in effect provided for in this Section 4:

            

            (i)    Computation
              of Consideration.
              To the
              extent that any Additional Shares of Common Stock or any Common Stock
              Equivalents (or any warrants or other rights therefor) shall be issued
              for cash
              consideration, the consideration received by the Issuer therefor shall
              be the
              amount of the cash received by the Issuer therefor, or, if such Additional
              Shares of Common Stock or Common Stock Equivalents are offered by the
              Issuer for
              subscription, the subscription price, or, if such Additional Shares
              of Common
              Stock or Common Stock Equivalents are sold to underwriters or dealers
              for public
              offering without a subscription offering, the initial public offering
              price (in
              any such case subtracting any amounts paid or receivable for accrued
              interest or
              accrued dividends and without taking into account any compensation,
              discounts or
              expenses paid or incurred by the Issuer for and in the underwriting
              of, or
              otherwise in connection with, the issuance thereof). In connection
              with any
              merger or consolidation in which the Issuer is the surviving corporation
              (other
              than any consolidation or merger in which the previously outstanding
              shares of
              Common Stock of the Issuer shall be changed to or exchanged for the
              stock or
              other securities of another corporation), the amount of consideration
              therefore
              shall be, deemed to be the fair value of such portion of the assets
              and business
              of the nonsurviving corporation as the Board may determine to be attributable
              to
              such shares of Common Stock or Common Stock Equivalents, as the case
              may be.
              Such determination of the fair value of such consideration shall be
              made by an
              Independent Appraiser. The consideration for any Additional Shares
              of Common
              Stock issuable pursuant to the terms of any Common Stock Equivalents
              shall be
              the consideration received by the Issuer for issuing such Common Stock
              Equivalents, plus the additional consideration, if any, payable to
              the Issuer
              upon the exercise of the right of conversion or exchange in such Common
              Stock
              Equivalents. In the event of any consolidation or merger of the Issuer
              in which
              the Issuer is not the surviving corporation or in which the previously
              outstanding shares of Common Stock of the Issuer shall be changed into
              or
              exchanged for the stock or other securities of another corporation,
              or in the
              event of any sale of all or substantially all of the assets of the
              Issuer for
              stock or other securities of any corporation, the Issuer shall be deemed
              to have
              issued a number of shares of its Common Stock for stock or securities
              or other
              property of the other corporation computed on the basis of the actual
              exchange
              ratio on which the transaction was predicated, and for a consideration
              equal to
              the fair market value on the date of such transaction of all such stock
              or
              securities or other property of the other corporation. In the event
              any
              consideration received by the Issuer for any securities consists of
              property
              other than cash, the fair market value thereof at the time of issuance
              or as
              otherwise applicable shall be as determined in good faith by the Board.
              In the
              event Common Stock is issued with other shares or securities or other
              assets of
              the Issuer for consideration which covers both, the consideration computed
              as
              provided in this Section 4(e)(i) shall be allocated among such securities
              and
              assets as determined in good faith by the Board.

            

            (ii)    When
              Adjustments to Be Made.
              The
              adjustments required by this Section 4 shall be made whenever and as
              often as
              any specified event requiring an adjustment shall occur, except that
              any
              adjustment of the number of shares of Common Stock for which this Warrant
              is
              exercisable that would otherwise be required may be postponed (except
              in the
              case of a subdivision or combination of shares of the Common Stock,
              as provided
              for in Section 4(b)) up to, but not beyond the date of exercise if
              such
              adjustment either by itself or with other adjustments not previously
              made adds
              or subtracts less than one percent (1%) of the shares of Common Stock
              for which
              this Warrant is exercisable immediately prior to the making of such
              adjustment.
              Any adjustment representing a change of less than such minimum amount
              (except as
              aforesaid) which is postponed shall be carried forward and made as
              soon as such
              adjustment, together with other adjustments required by this Section
              4 and not
              previously made, would result in a minimum adjustment or on the date
              of
              exercise. For the purpose of any adjustment, any specified event shall
              be deemed
              to have occurred at the close of business on the date of its
              occurrence.

            
              
                
                

              

              
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            (iii)    Fractional
              Interests.
              In
              computing ad-justments under this Section 4, fractional interests in
              Common
              Stock shall be taken into account to the near-est one one-hundredth
              (1/100th)
              of a
              share.

            

            (iv)   When
              Adjustment Not Required.
              If the
              Issuer shall take a record of the holders of its Common Stock for the
              purpose of
              entitling them to receive a dividend or distribution or subscription
              or purchase
              rights and shall, thereafter and before the distribution to stockholders
              thereof, legally abandon its plan to pay or deliver such dividend,
              distribution,
              subscription or purchase rights, then thereafter no adjustment shall
              be required
              by reason of the taking of such record and any such adjustment previously
              made
              in respect thereof shall be rescinded and annulled.

             

            (f)    Form
              of Warrant after Adjustments.
              The
              form of this Warrant need not be changed because of any adjustments
              in the
              Warrant Price or the number and kind of Securities purchasable upon
              the exercise
              of this Warrant.

            

            (g)    Escrow
              of Warrant Stock.
              If
              after any property becomes distributable pursuant to this Section 4
              by reason of
              the taking of any record of the holders of Common Stock, but prior
              to the
              occurrence of the event for which such record is taken, and the Holder
              exer-cises this Warrant, any shares of Common Stock issuable upon exercise
              by
              reason of such adjustment shall be deemed the last shares of Common
              Stock for
              which this Warrant is exercised (notwithstanding any other provision
              to the
              contrary herein) and such shares or other property shall be held in
              escrow for
              the Holder by the Issuer to be issued to the Holder upon and to the
              extent that
              the event actually takes place, upon payment of the current Warrant
              Price.
              Notwithstanding any other provision to the contrary herein, if the
              event for
              which such record was taken fails to occur or is rescinded, then such
              escrowed
              shares shall be cancelled by the Issuer and escrowed property
              returned.

            

            5.    Notice
              of Adjustments.
              Whenever the Warrant Price or Warrant Share Number shall be adjusted
              pursuant to
              Section 4 hereof (for purposes of this Section 5, each an "adjustment"),
              the
              Issuer shall cause its Chief Financial Officer to prepare and execute
              a
              certificate setting forth, in reasonable detail, the event requiring
              the
              adjustment, the amount of the adjustment, the method by which such
              adjustment
              was calculated (including a description of the basis on which the Board
              made any
              determination hereunder), and the Warrant Price and Warrant Share Number
              after
              giving effect to such adjustment, and shall cause copies of such certificate
              to
              be delivered to the Holder of this Warrant promptly after each adjustment.
              Any
              dispute between the Issuer and the Holder of this Warrant with respect
              to the
              matters set forth in such certificate may at the option of the Holder
              of this
              Warrant be submitted to a national or regional accounting firm reasonably
              acceptable to the Issuer and the Holder, provided
              that the
              Issuer shall have ten (10) days after receipt of notice from such Holder
              of its
              selection of such firm to object thereto, in which case such Holder
              shall select
              another such firm and the Issuer shall have no such right of objection.
              The firm
              selected by the Holder of this Warrant as provided in the preceding
              sentence
              shall be instructed to deliver a written opinion as to such matters
              to the
              Issuer and such Holder within thirty (30) days after submission to
              it of such
              dispute. Such opinion shall be final and binding on the parties hereto.
              The
              costs and expenses of the initial accounting firm shall be paid equally
              by the
              Issuer and the Holder and, in the case of an objection by the Issuer,
              the costs
              and expenses of the subsequent accounting firm shall be paid in full
              by the
              Issuer.

            
              
                
                

              

              
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            6.    Fractional
              Shares.
              No
              fractional shares of Warrant Stock will be issued in connection with
              any
              exercise hereof, but in lieu of such fractional shares, the Issuer
              shall round
              the number of shares to be issued upon exercise up to the nearest whole
              number
              of shares.

            

            7.    Ownership
              Cap and Certain Exercise Restrictions.
              (a)
              Notwithstanding anything to the contrary set forth in this Warrant,
              at no time
              may a Holder of this Warrant exercise any portion of this Warrant if
              the number
              of shares of Common Stock to be issued pursuant to such exercise would
              exceed,
              when aggregated with all other shares of Common Stock owned by such
              Holder at
              such time, the number of shares of Common Stock which would result
              in such
              Holder beneficially owning (as determined in accordance with Section
              13(d) of
              the Exchange Act and the rules thereunder) in excess of 4.9% of the
              then issued
              and outstanding shares of Common Stock; provided,
              however,
              that
              upon a holder of this Warrant providing the Issuer with sixty-one (61)
              days
              notice (pursuant to Section 13 hereof) (the "Waiver
              Notice")
              that
              such Holder would like to waive this Section 7(a) with regard to any
              or all
              shares of Common Stock issuable upon exercise of this Warrant, this
              Section 7(a)
              will be of no force or effect with regard to all or a portion of the
              Warrant
              referenced in the Waiver Notice; provided,
              further,
              that
              this provision shall be of no further force or effect during the sixty-one
              (61)
              days immediately preceding the expiration of the term of this
              Warrant.

            

            (b)    The
              Holder may not exercise the Warrant hereunder to the extent such exercise
              would
              result in the Holder beneficially owning (as determined in accordance
              with
              Section 13(d) of the Exchange Act and the rules thereunder) in excess
              of 9.9% of
              the then issued and outstanding shares of Common Stock, including shares
              issuable upon exercise of the Warrant held by the Holder after application
              of
              this Section; provided,
              however,
              that
              upon a holder of this Warrant providing the Issuer with a Waiver Notice
              that
              such holder would like to waive this Section 7(b) with regard to any
              or all
              shares of Common Stock issuable upon exercise of this Warrant, this
              Section 7(b)
              shall be of no force or effect with regard to those shares of Warrant
              Stock
              referenced in the Waiver Notice; provided,
              further,
              that
              this provision shall be of no further force or effect during the sixty-one
              (61)
              days immediately preceding the expiration of the term of this
              Warrant.

            
              
                
                

              

              
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            8.    Definitions.
              For the
              purposes of this Warrant, the following terms have the following
              meanings:

            

            "Additional
              Shares of Common Stock"
              means
              all shares of Common Stock issued by the Issuer after the Original
              Issue Date,
              and all shares of Other Common, if any, issued by the Issuer after
              the Original
              Issue Date, except: (i) securities issued (other than for cash) in
              connection
              with a merger, acquisition, or consolidation, (ii) securities issued
              pursuant to
              a bona fide firm underwritten public offering of the Issuer’s securities of at
              least $20,000,000 in which the price per share is at least $4.00 (subject
              to
              appropriate adjustment in the event of any stock dividend, stock split,
              stock
              distribution or combination with respect to the Common Stock), (iii)
              securities
              issued pursuant to the conversion or exercise of convertible or exercisable
              securities issued or outstanding on or prior to the date hereof or
              issued
              pursuant to the Purchase Agreement, (iv) the Warrant Stock, (v) securities
              issued in connection with bona fide strategic license agreements or
              other
              partnering arrangements so long as such issuances are not for the purpose
              of
              raising capital, (vi) Common Stock issued or the issuance or grants
              of options
              to purchase Common Stock pursuant to the Issuer’s stock option plans and
              employee stock purchase plans as they exist on the date hereof or hereafter
              adopted by the Board and approved by the Majority Holders, (vii) any
              warrants
              issued to the placement agent and its designees for the transactions
              contemplated by the Purchase Agreement and (viii) the payment of any
              dividends
              in shares of Common Stock pursuant to the Preferred Stock issued pursuant
              to the
              Purchase Agreement.

            

            "Articles
              of Incorporation"
              means
              the Articles of Incorporation of the Issuer as in effect on the Original
              Issue
              Date, and as hereafter from time to time amended, modified, supplemented
              or
              restated in accordance with the terms hereof and thereof and pursuant
              to
              applicable law. 

            

            “Board"
              shall
              mean the Board of Directors of the Issuer.

            

            "Capital
              Stock"
              means
              and includes (i) any and all shares, interests, participations or other
              equivalents of or interests in (however designated) corporate stock,
              including,
              without limitation, shares of preferred or preference stock, (ii) all
              partnership interests (whether general or limited) in any Person which
              is a
              partnership, (iii) all membership interests or limited liability company
              interests in any limited liability company, and (iv) all equity or
              ownership
              interests in any Person of any other type.

            

            "Common
              Stock"
              means
              the Common Stock, $.001 par value per share, of the Issuer and any
              other Capital
              Stock into which such stock may hereafter be changed.

            

            "Common
              Stock Equivalent"
              means
              any Convertible Security or warrant, option or other right to subscribe
              for or
              purchase any Additional Shares of Common Stock or any Convertible
              Security.

            
              
                
                

              

              
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            "Convertible
              Securities"
              means
              evidences of Indebtedness, shares of Capital Stock or other Securities
              which are
              or may be at any time convertible into or exchangeable for Additional
              Shares of
              Common Stock. The term "Convertible Security" means one of the Convertible
              Securities.

            

            "Governmental
              Authority"
              means
              any governmental, regulatory or self-regulatory entity, department,
              body,
              official, authority, commission, board, agency or instrumentality,
              whether
              federal, state or local, and whether domestic or foreign.

            

            "Holders"
              mean
              the Persons who shall from time to time own any Warrant. The term "Holder"
              means
              one of the Holders.

            

            "Independent
              Appraiser"
              means a
              nationally recognized or major regional investment banking firm or
              firm of
              independent certified public accountants of recognized standing (which
              may be
              the firm that regularly examines the financial statements of the Issuer)
              that is
              regularly engaged in the business of appraising the Capital Stock or
              assets of
              corporations or other entities as going concerns, and which is not
              affiliated
              with either the Issuer or the Holder of any Warrant.

            

            "Issuer"
              means
              Impart Media Group, Inc., a Nevada corporation, and its successors.
              

            

            "Majority
              Holders"
              means
              at any time the Holders of Warrants exercisable for a majority of the
              shares of
              Warrant Stock issuable under the Warrants at the time outstanding.

            

            "Original
              Issue Date"
              means
              March 2, 2006.

            

            "OTC
              Bulletin Board"
              means
              the over-the-counter electronic bulletin board.

            

            "Other
              Common"
              means
              any other Capital Stock of the Issuer of any class which shall be authorized
              at
              any time after the date of this Warrant (other than Common Stock) and
              which
              shall have the right to participate in the distribution of earnings
              and assets
              of the Issuer without limitation as to amount.

            

            “Outstanding
              Common Stock”
means,
              at any given time, the aggregate amount of outstanding shares of Common
              Stock,
              assuming full exercise, conversion or exchange (as applicable) of all
              options,
              warrants and other Securities which are convertible into or exercisable
              or
              exchangeable for, and any right to subscribe for, shares of Common
              Stock that
              are outstanding at such time.

            

            "Person"
              means
              an individual, corporation, limited liability company, partnership,
              joint stock
              company, trust, unincorporated organization, joint venture, Governmental
              Authority or other entity of whatever nature.

            
              
                
                

              

              
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            "Per
              Share Market Value"
              means
              on any particular date (a) the last closing bid price per share of
              the Common
              Stock on such date on the OTC
              Bulletin Board or
              another registered national stock exchange on which the Common Stock
              is then
              listed, or if there is no such price on such date, then the closing
              bid price on
              such exchange or quotation system on the date nearest preceding such
              date, or
              (b) if the Common Stock is not listed then on the OTC Bulletin Board
              or any
              registered national stock exchange, the last closing bid price for
              a share of
              Common Stock in the over-the-counter market, as reported by the OTC
              Bulletin
              Board or in the National Quotation Bureau Incorporated or similar organization
              or agency succeeding to its functions of reporting prices) at the close
              of
              business on such date, or (c) if the Common Stock is not then reported
              by the
              OTC Bulletin Board or the National Quotation Bureau Incorporated (or
              similar
              organization or agency succeeding to its functions of reporting prices),
              then
              the average of the "Pink Sheet" quotes for the five (5) Trading Days
              preceding
              such date of determination, or (d) if the Common Stock is not then
              publicly
              traded the fair market value of a share of Common Stock as determined
              by the
              agreement of the Board and the Majority Holders, provided,
              however,
              if the
              Board and the Majority Holders cannot agree on the fair market value
              of a share
              of the Common Stock, the fair market value shall be determined by an
              Independent
              Appraiser selected in good faith by the Majority Holders; provided,
              however,
              that
              the Issuer, after receipt of the determination by such Independent
              Appraiser,
              shall have the right to select an additional Independent Appraiser,
              in which
              case, the fair market value shall be equal to the average of the determinations
              by each such Independent Appraiser; and provided,
              further
              that all
              determinations of the Per Share Market Value shall be appropriately
              adjusted for
              any stock dividends, stock splits or other similar transactions during
              such
              period. The determination of fair market value by an Independent Appraiser
              shall
              be based upon the fair market value of the Issuer determined on a going
              concern
              basis as between a willing buyer and a willing seller and taking into
              account
              all relevant factors determinative of value, and shall be final and
              binding on
              all parties. In determining the fair market value of any shares of
              Common Stock,
              no consideration shall be given to any restrictions on transfer of
              the Common
              Stock imposed by agreement or by federal or state securities laws,
              or to the
              existence or absence of, or any limitations on, voting rights.

            

            “Preferred
              Stock”
means
              the Series A Convertible Preferred Stock issued by the Issuer to the
              Purchasers
              pursuant to the Purchase Agreement.

            

            "Purchase
              Agreement"
              means
              the Series A Convertible Preferred Stock Purchase Agreement dated as
              of March 2,
              2006 among the Issuer and the Purchasers.

            

            "Purchasers"
              means
              the purchasers of the Preferred Stock and
              the
              Warrants issued by the Issuer pursuant to the Purchase Agreement.

            

            “Registration
              Statement”
means
              a
              registration statement under the Securities Act providing for the resale
              of the
              Warrant Stock.

            

            "Securities"
              means
              any debt or equity securities of the Issuer, whether now or hereafter
              authorized, any instrument convertible into or exchangeable for Securities
              or a
              Security, and any option, warrant or other right to purchase or acquire
              any
              Security. "Security" means one of the Securities.

            
              
                
                

              

              
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            "Securities
              Act"
              means
              the Securities Act of 1933, as amended, or any similar federal statute
              then in
              effect.

            

            "Subsidiary"
              means
              any corporation at least 50% of whose outstanding Voting Stock shall
              at the time
              be owned directly or indirectly by the Issuer or by one or more of
              its
              Subsidiaries, or by the Issuer and one or more of its Subsidiaries.

            

            "Term"
              has the
              meaning specified in Section 1 hereof.

            

            "Trading
              Day"
              means
              (a) a day on which the Common Stock is traded on the OTC Bulletin Board,
              or (b)
              if the Common Stock is not traded on the OTC Bulletin Board, a day
              on which the
              Common Stock is quoted in the over-the-counter market as reported by
              the
              National Quotation Bureau Incorporated (or any similar organization
              or agency
              succeeding its functions of reporting prices); provided,
              however,
              that in
              the event that the Common Stock is not listed or quoted as set forth
              in (a) or
              (b) hereof, then Trading Day shall mean any day except Saturday, Sunday
              and any
              day which shall be a legal holiday or a day on which banking institutions
              in the
              State of New York are authorized or required by law or other government
              action
              to close.

            

            "Voting
              Stock"
              means,
              as applied to the Capital Stock of any corporation, Capital Stock of
              any class
              or classes (however designated) having ordinary voting power for the
              election of
              a majority of the members of the Board of Directors (or other governing
              body) of
              such corporation, other than Capital Stock having such power only by
              reason of
              the happening of a contingency.

            

            "Waiver
              and Amendment
              " means
              the Waiver and Amendment to Certificate of Designation of Series A
              Convertible
              Preferred Stock, Warrants and Registration Rights Agreement, dated
              as of the
              date hereof, by and among the Issuer and the Purchasers signatories
              thereto.

            

            "Warrants"
              means
              the Warrants issued and sold pursuant to the Purchase Agreement, including,
              without limitation, this Warrant, and any other warrants of like tenor
              issued in
              substitution or exchange for any thereof pursuant to the provisions
              of Section
              2(c), 2(d) or 2(e) hereof or of any of such other Warrants. 

            

            "Warrant
              Price"
              means,
              initially, $0.01 per share, as such price may be adjusted from time
              to time as
              shall result from the adjustments specified in this Warrant, including
              Section 4
              hereto.

            

            "Warrant
              Share Number"
              means
              at any time the aggregate number of shares of Warrant Stock which may
              at such
              time be purchased upon exercise of this Warrant, after giving effect
              to all
              prior adjustments and increases to such number made or required to
              be made under
              the terms hereof.

            
              
                
                

              

              
                -
                  16
                  -

                
                  

                

              

              
                
                

              

            

            "Warrant
              Stock"
              means
              Common Stock issuable upon exercise of any Warrant or Warrants or otherwise
              issuable pursuant to any Warrant or Warrants.

            

            10.    Other
              Notices.
              In case
              at any time:

            

            
              	 	
                      (A)

                    	
                      the
                        Issuer shall make any distributions to the holders of Common
                        Stock;
                        or

                    

            

            

            
              	 	
                      (B)

                    	
                      the
                        Issuer shall authorize the granting to all holders of its
                        Common Stock of
                        rights to subscribe for or purchase any shares of Capital
                        Stock of any
                        class or other rights; or

                    

            

            

            
              	 	
                      (C)

                    	
                      there
                        shall be any reclassification of the Capital Stock of the
                        Issuer;
                        or

                    

            

            

            
              	 	
                      (D)

                    	
                      there
                        shall be any capital reorganization by the Issuer;
                        or

                    

            

            

            
              	 	
                      (E)

                    	
                      there
                        shall be any (i) consolidation or merger involving the Issuer
                        or (ii)
                        sale, transfer or other disposition of all or substantially
                        all of the
                        Issuer's property, assets or business (except a merger or
                        other
                        reorganization in which the Issuer shall be the surviving
                        corporation and
                        its shares of Capital Stock shall continue to be outstanding
                        and unchanged
                        and except a consolidation, merger, sale, transfer or other
                        disposition
                        involving a wholly-owned Subsidiary);
                        or

                    

            

            

            
              	 	
                      (F)

                    	
                      there
                        shall be a voluntary or involuntary dissolution, liquidation
                        or winding-up
                        of the Issuer or any partial liquidation of the Issuer or
                        distribution to
                        holders of Common Stock;

                    

            

            

            then,
              in
              each of such cases, the Issuer shall give written notice to the Holder
              of the
              date on which (i) the books of the Issuer shall close or a record shall
              be taken
              for such dividend, distribution or subscription rights or (ii) such
              reorganization, reclassification, consolidation, merger, disposition,
              dissolution, liquidation or winding-up, as the case may be, shall take
              place.
              Such notice also shall specify the date as of which the holders of
              Common Stock
              of record shall participate in such dividend, distribution or subscription
              rights, or shall be entitled to exchange their certificates for Common
              Stock for
              securities or other property deliverable upon such reorganization,
              reclassification, consolidation, merger, disposition, dissolution,
              liquidation
              or winding-up, as the case may be. Such notice shall be given at least
              twenty
              (20) days prior to the action in question and not less than ten (10)
              days prior
              to the record date or the date on which the Issuer's transfer books
              are closed
              in respect thereto. This Warrant entitles the Holder to receive copies
              of all
              financial and other information distributed or required to be distributed
              to the
              holders of the Common Stock.

            
              
                
                

              

              
                -
                  17
                  -

                
                  

                

              

              
                
                

              

            

            11.    Amendment
              and Waiver.
              Any
              term, covenant, agreement or condition in this Warrant may be amended,
              or
              compliance therewith may be waived (either generally or in a particular
              instance
              and either retroactively or prospectively), by a written instrument
              or written
              instruments executed by the Issuer and the Majority Holders; provided,
              however,
              that no
              such amendment or waiver shall reduce the Warrant Share Number, increase
              the
              Warrant Price, shorten the period during which this Warrant may be
              exercised or
              modify any provision of this Section 11 without the consent of the
              Holder of
              this Warrant. No consideration shall be offered or paid to any person
              to amend
              or consent to a waiver or modification of any provision of this Warrant
              unless
              the same consideration is also offered to all holders of the
              Warrants.

            

            12.    Governing
              Law; Jurisdiction.
              This
              Warrant shall be governed by and construed in accordance with the internal
              laws
              of the State of New York, without giving effect to any of the conflicts
              of law
              principles which would result in the application of the substantive
              law of
              another jurisdiction. This Warrant shall not be interpreted or construed
              with
              any presumption against the party causing this Warrant to be drafted.
              The Issuer
              and the Holder agree that venue for any dispute arising under this
              Warrant will
              lie exclusively in the state or federal courts located in New York
              County, New
              York, and the parties irrevocably waive any right to raise forum
              non conveniens
              or any
              other argument that New York is not the proper venue. The Issuer and
              the Holder
              irrevocably consent to personal jurisdiction in the state and federal
              courts of
              the state of New York. The Issuer and the Holder consent to process
              being served
              in any such suit, action or proceeding by mailing a copy thereof to
              such party
              at the address in effect for notices to it under this Warrant and agrees
              that
              such service shall constitute good and sufficient service of process
              and notice
              thereof. Nothing in this Section 12 shall affect or limit any right
              to serve
              process in any other manner permitted by law. The Issuer and the Holder
              hereby
              agree that the prevailing party in any suit, action or proceeding arising
              out of
              or relating to this Warrant, shall be entitled to reimbursement for
              reasonable
              legal fees from the non-prevailing party. The parties hereby waive
              all rights to
              a trial by jury.

            

            13.    Notices.
              Any
              notice, demand, request, waiver or other communication required or
              permitted to
              be given hereunder shall be in writing and shall be effective (a) upon
              hand
              delivery by telecopy or facsimile at the address or number designated
              below (if
              delivered on a business day during normal business hours where such
              notice is to
              be received), or the first business day following such delivery (if
              delivered
              other than on a business day during normal business hours where such
              notice is
              to be received) or (b) on the second business day following the date
              of mailing
              by express courier service, fully prepaid, addressed to such address,
              or upon
              actual receipt of such mailing, whichever shall first occur. The addresses
              for
              such communications shall be:

             

            
              	
                      If
                        to the Issuer:

                    	
                      Impart
                        Media Group, Inc. 

                    

            

            1300
              North Northlake Way

            Seattle,
              Washington 98103

            Attention:
              Chief Executive Officer

            Tel.
              No.:
              (206) 633-1852 

            Fax
              No.:
              (206) 633-2768

            
              
                
                

              

              
                -
                  18
                  -

                
                  

                

              

              
                
                

              

            

            with
              copies (which copies 

            shall
              not
              constitute notice) 

            
              	
                      to:

                    	
                      Pryor
                        Cashman Sherman & Flynn LLP

                    

            

            410
              Park
              Avenue, 10th
              Floor

            New
              York,
              New York 10022

            Attention:
              Eric M. Hellige

            Tel.
              No.:
              (212) 326-0846

            Fax
              No.:
              (212) 326-0806

            

            
              	
                      If
                        to any Holder:

                    	
                      At
                        the address of such Holder set forth on Exhibit
                        A
                        to
                        this Agreement, with copies to Holder’s counsel as set forth on
                        Exhibit
                        A
                        or
                        as specified in writing by such Holder with copies
                        to:

                    

            

            

            with
              copies (which copies 

            shall
              not
              constitute notice) 

            
              	
                      to:

                    	
                      Kramer
                        Levin Naftalis & Frankel LLP

                    

            

            1177
              Avenue of the Americas

            New
              York,
              New York 10036

            Attention:
              Christopher S. Auguste

            Tel.
              No.:
              (212) 715-9100

            Fax
              No.:
              (212) 715-8000

            

            Any
              party
              hereto may from time to time change its address for notices by giving
              written
              notice of such changed address to the other party hereto.

             

            14.    Warrant
              Agent.
              The
              Issuer may, by written notice to each Holder of this Warrant, appoint
              an agent
              having an office in New York, New York for the purpose of issuing shares
              of
              Warrant Stock on the exercise of this Warrant pursuant to subsection
              (b) of
              Section 2 hereof, exchanging this Warrant pursuant to subsection (d)
              of Section
              2 hereof or replacing this Warrant pursuant to subsection (d) of Section
              3
              hereof, or any of the foregoing, and thereafter any such issuance,
              exchange or
              replacement, as the case may be, shall be made at such office by such
              agent.

            

            15.    Remedies.
              The
              Issuer stipulates that the remedies at law of the Holder of this Warrant
              in the
              event of any default or threatened default by the Issuer in the performance
              of
              or compliance with any of the terms of this Warrant are not and will
              not be
              adequate and that, to the fullest extent permitted by law, such terms
              may be
              specifically enforced by a decree for the specific performance of any agreement
              contained herein or by an injunction against a violation of any of
              the terms
              hereof or otherwise.

            

            16.    Successors
              and Assigns.
              This
              Warrant and the rights evidenced hereby shall inure to the benefit
              of and be
              binding upon the successors and assigns of the Issuer, the Holder hereof
              and (to
              the extent provided herein) the Holders of Warrant Stock issued pursuant
              hereto,
              and shall be enforceable by any such Holder or Holder of Warrant
              Stock.

            
              
                
                

              

              
                -
                  19
                  -

                
                  

                

              

              
                
                

              

            

            17.    Modification
              and Severability.
              If, in
              any action before any court or agency legally empowered to enforce
              any provision
              contained herein, any provision hereof is found to be unenforceable,
              then such
              provision shall be deemed modified to the extent necessary to make
              it
              enforceable by such court or agency. If any such provision is not enforceable
              as
              set forth in the preceding sentence, the unenforceability of such provision
              shall not affect the other provisions of this Warrant, but this Warrant
              shall be
              construed as if such unenforceable provision had never been contained
              herein.

            

            18.    Registration
              Rights.
              The
              initial Holder of this Warrant is entitled to the benefit of certain
              registration rights with respect to the shares of Common Stock issuable
              upon the
              exercise of this Warrant pursuant to that certain Registration Rights
              Agreement,
              dated as of March 2, 2006, by and among the Company and Persons listed
              on
              Schedule I thereto, as amended by that certain Waiver and Amendment,
              dated as of
              March 23, 2007 (the “Registration
              Rights Agreement”)
              and
              the registration rights with respect to the shares of Common Stock
              issuable upon
              the exercise of this Warrant by any subsequent Holder may only be assigned
              in
              accordance with the terms and provisions of the Registrations Rights
              Agreement.

            

            19.    Headings.
              The
              headings of the Sections of this Warrant are for convenience of reference
              only
              and shall not, for any purpose, be deemed a part of this Warrant.

            

            

            [REMAINDER
              OF PAGE INTENTIONALLY LEFT BLANK]

            
              
                
                

              

              
                -
                  20
                  -

                
                  

                

              

              
                
                

              

            

            

            IN
              WITNESS WHEREOF, the Issuer has executed this Warrant as of the day
              and year
              first above written.

            

            

            
              	 	
                      IMPART
                        MEDIA GROUP, INC.

                    
	 	 	 
	 	 	 
	 	
                      By:

                    	
                       

                    
	 	 	
                      Name:
                        Joseph Martinez

                    
	 	 	
                      Title:
                        Chief Financial Officer

                    

            

             

            
              
                
                

              

              
                -
                  21
                  -

                
                  

                

              

              
                
                

              

            

            EXHIBIT
              A to the

            WARRANT
              TO PURCHASE SHARES OF COMMON STOCK OF

            IMPART
              MEDIA GROUP, INC.

            

            

            
              	Names
                      and Addresses	
                      Number

                    

            

            
              	
                      of
                        Holder

                    	
                      and
                        Warrants Purchased

                    

            

             

             

            Counsel
              to Enable Capital Management:

            

            Lowenstein
              Sandler PC

            1251
              Avenue of the Americas

            New
              York,
              NY 10020

            Attention:
              Michael D. Maline

            Tel.
              No.:
              (646) 414-6904

            Fax
              No.:
              (973) 422-6873

            
              
                
                

              

              
                -
                  22
                  -

                
                  

                

              

              
                
                

              

            

            EXERCISE
              FORM

            WARRANT

            

            IMPART
              MEDIA GROUP, INC.

            

            The
              undersigned _______________, pursuant to the provisions of the within
              Warrant,
              hereby elects to purchase _____ shares of Common Stock of Impart Media
              Group,
              Inc. covered by the within Warrant.

            

            
              	
                      Dated:

                    	 	 	
                      Signature

                    	 	 
	
                       

                    	 	 	
                       

                    	 	 
	 	 	 	
                      Address

                    	 	 
	 	 	 	 	 	 

            

            

            Number
              of
              shares of Common Stock beneficially owned or deemed beneficially owned
              by the
              Holder on the date of Exercise: _________________________

            

            ASSIGNMENT

            

            FOR
              VALUE
              RECEIVED, _________________ hereby sells, assigns and transfers unto
              __________________ the within Warrant and all rights evidenced thereby
              and does
              irrevocably constitute and appoint _____________, attorney, to transfer
              the said
              Warrant on the books of the within named corporation.

            

            
              	
                      Dated:

                    	 	 	
                      Signature

                    	 	 
	
                       

                    	 	 	
                       

                    	 	 
	 	 	 	
                      Address

                    	 	 
	 	 	 	 	 	 

            

            

            PARTIAL
              ASSIGNMENT

            

            FOR
              VALUE
              RECEIVED, _________________ hereby sells, assigns and transfers unto
              __________________ the right to purchase _________ shares of Warrant
              Stock
              evidenced by the within Warrant together with all rights therein, and
              does
              irrevocably constitute and appoint ___________________, attorney, to
              transfer
              that part of the said Warrant on the books of the within named
              corporation.

            

            
              	
                      Dated:

                    	 	 	
                      Signature

                    	 	 
	
                       

                    	 	 	
                       

                    	 	 
	 	 	 	
                      Address

                    	 	 
	 	 	 	 	 	 

            

            

            

            FOR
              USE
              BY THE ISSUER ONLY:

            

            This
              Warrant No. W-___ canceled (or transferred or exchanged) this _____
              day of
              ___________, _____, shares of Common Stock issued therefor in the name
              of
              _______________, Warrant No. W-_____ issued for ____ shares of Common
              Stock in
              the name of _______________.

            
 

            -
              23
              -

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