Document:

EXHIBIT
      10.2

    

    THIS
      NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
      “ACT”), OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED,
      OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY
      THE
      MAKER OF AN OPINION OF COUNSEL IN THE FORM, SUBSTANCE AND SCOPE REASONABLY
      SATISFACTORY TO THE MAKER THAT THIS NOTE MAY BE SOLD, TRANSFERRED, HYPOTHECATED,
      OR OTHERWISE DISPOSED OF, UNDER AN EXEMPTION FROM REGISTRATION UNDER THE ACT
      AND
      SUCH STATE SECURITIES LAWS.

    

    INTELLIGENTIAS,
      INC.

    

    Senior
      Secured Promissory Note

    due
      June
      13, 2008

     

    
      	 No.
              SSP-07-__	
               $3,000,000.00

            
	
               Dated:
                June 13, 2007

            	 

    

     

    For
      value
      received, Intelligentias, Inc., a Nevada corporation (the “Maker”),
      hereby promises to pay to the order of Vision Opportunity Master Fund, Ltd.
      (together with its successors, representatives, and permitted assigns, the
      “Holder”),
      in
      accordance with the terms hereinafter provided, the principal amount of THREE
      MILLION DOLLARS ($3,000,000.00), together with interest thereon.

     

    All
      payments under or pursuant to this Note shall be made in United States Dollars
      in immediately available funds to the Holder at
      the
      address of the Holder set forth in the Purchase Agreement (as defined below)
      or
      at such other place as the Holder may designate from time to time in writing
      to
      the Maker or by wire transfer of funds to the Holder’s account, instructions for
      which are attached hereto as Exhibit
      A. The
      outstanding principal balance of this Note shall be due and payable on the
      earlier of (i) June 13, 2008 and (ii) the date on which the Maker receives
      net
      proceeds of at least $6,000,000 from a subsequent debt or equity financing
      (the
“Maturity
      Date”)
      or at
      such earlier time as provided herein. 

     

    ARTICLE
      I

     

    Section
      1.1 Purchase
      Agreement. This Note has been executed and delivered pursuant to the Note
      and Warrant Purchase Agreement dated as of June 13, 2007 (the “Purchase
      Agreement”) by and among the Maker
      and the
      Purchasers listed therein. Capitalized terms used and not otherwise defined
      herein shall have the meanings set forth for such terms in the Purchase
      Agreement. 

     

    Section
      1.2 Interest.
      Beginning on the issuance date of this Note the outstanding principal balance
      of
      this Note shall bear interest at a rate per annum equal to twelve percent (12%).
      Interest on the Note shall be payable in cash on the Maturity Date. Furthermore,
      upon the occurrence of an Event of Default (as defined in Section 2.1 hereof),
      then to the extent permitted by law, the Maker will pay interest in cash to
      the
      Holder, payable on demand, on the outstanding principal balance of the Note
      from
      the date of the Event of Default until such Event of Default is cured at the
      rate of the lesser of fifteen percent (15%) and the maximum applicable legal
      rate per annum. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Section
      1.3 Security
      Agreement; Ranking. The obligations of the Maker hereunder are secured by a
      continuing first priority senior security interest in all of the assets of
      the
      Maker pursuant to the terms of the Security Agreement dated as of June 13,
      2007
      by and among the Maker, on the one hand and the Holder on the other hand. This
      Note shall rank senior to all of the Maker’s issued and outstanding securities
      which are all currently outstanding and have been disclosed to the
      Holder.

     

    Section
      1.4 Payment
      on Non-Business Days. Whenever any payment to be made shall be due on a
      Saturday, Sunday or a public holiday under the laws of the State of New York,
      such payment may be due on the next succeeding business day and such next
      succeeding day shall be included in the calculation of the amount of accrued
      interest payable on such date.

     

    Section
      1.5 Transfer.
      This Note may be transferred or sold, subject to the provisions of Section
      4.8
      of this Note, or pledged, hypothecated or otherwise granted as security by
      the
      Holder.

     

    Section
      1.6 Replacement.
      Upon receipt of a duly executed, notarized and unsecured written statement
      from
      the Holder with respect to the loss, theft or destruction of this Note (or
      any
      replacement hereof) and a standard indemnity reasonably satisfactory to the
      Maker, or, in the case of a mutilation of this Note, upon surrender and
      cancellation of such Note, the Maker shall issue a new Note, of like tenor
      and
      amount, in lieu of such lost, stolen, destroyed or mutilated Note.

     

    ARTICLE
      II

     

    EVENTS
      OF DEFAULT; REMEDIES

     

    Section
      2.1 Events
      of Default. The occurrence of any of the following events shall be an
“Event of Default” under this Note:

     

    (a) the
      Maker
      shall fail to make any principal or interest payments on the date such payments
      are due and such default is not fully cured within three (3) business days
      after
      the occurrence thereof; or

     

    (b) the
      Maker
      shall fail to make the payment of any fees and/or liquidated damages under
      this
      Note or the Purchase Agreement after the Holder delivers written notice to
      the
      Maker of the incurrence thereof; or

     

    (c) default
      shall be made in the performance or observance of (i) any covenant, condition
      or
      agreement contained in this Note and such default is not fully cured within
      ten
      (10) business days after the occurrence of such default or (ii) any covenant,
      condition or agreement contained in the Purchase Agreement or any other
      Transaction Document which is not covered by any other provisions of this
      Section 2.1 and such default is not fully cured within ten (10) business days
      after the occurrence of such default; or

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (d) any
      material representation or warranty made by the Maker herein or in the Purchase
      Agreement or any other Transaction Document shall prove to have been false
      or
      incorrect or breached in a material respect on the date as of which made and
      the
      Holder delivers written notice to the Maker of the occurrence thereof;
      or

     

    (e) the
      Maker
      shall (A) default in any payment of any amount or amounts of principal of or
      interest on any Indebtedness (other than the Indebtedness hereunder) the
      aggregate principal amount of which Indebtedness is in excess of
      $100,000 or
      (B)
      default in the observance or performance of any other agreement or condition
      relating to any Indebtedness or contained in any instrument or agreement
      evidencing, securing or relating thereto, or any other event shall occur or
      condition exist, the effect of which default or other event or condition is
      to
      cause, or to permit the holder or holders or beneficiary or beneficiaries of
      such Indebtedness to cause with the giving of notice if required, such
      Indebtedness to become due prior to its stated maturity; or 

     

    (f) the
      Maker
      shall (i) apply for or consent to the appointment of, or the taking of
      possession by, a receiver, custodian, trustee or liquidator of itself or of
      all
      or a substantial part of its property or assets, (ii) make a general assignment
      for the benefit of its creditors, (iii) commence a voluntary case under the
      United States Bankruptcy Code (as now or hereafter in effect) or under the
      comparable laws of any jurisdiction (foreign or domestic), (iv) file a petition
      seeking to take advantage of any bankruptcy, insolvency, moratorium,
      reorganization or other similar law affecting the enforcement of creditors’
rights generally, (v) acquiesce in writing to any petition filed against it
      in
      an involuntary case under United States Bankruptcy Code (as now or hereafter
      in
      effect) or under the comparable laws of any jurisdiction (foreign or domestic),
      (vi) issue a notice of bankruptcy or winding down of its operations or issue
      a
      press release regarding same, or (vii) take any action under the laws of any
      jurisdiction (foreign or domestic) analogous to any of the foregoing; or

     

    (g) a
      proceeding or case shall be commenced in respect of the Maker, without its
      application or consent, in any court of competent jurisdiction, seeking (i)
      the
      liquidation, reorganization, moratorium, dissolution, winding up, or composition
      or readjustment of its debts, (ii) the appointment of a trustee, receiver,
      custodian, liquidator or the like of it or of all or any substantial part of
      its
      assets in connection with the liquidation or dissolution of the Maker or (iii)
      similar relief in respect of it under any law providing for the relief of
      debtors, and such proceeding or case described in clause (i), (ii) or (iii)
      shall continue undismissed, or unstayed and in effect, for a period of thirty
      (30) days or any order for relief shall be entered in an involuntary case under
      United States Bankruptcy Code (as now or hereafter in effect) or under the
      comparable laws of any jurisdiction (foreign or domestic) against the Maker
      or
      action under the laws of any jurisdiction (foreign or domestic) analogous to
      any
      of the foregoing shall be taken with respect to the Maker and shall continue
      undismissed, or unstayed and in effect for a period of thirty (30) days;
      or

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (h) the
      failure of the Maker to pay any other amounts due to the Holder herein or
      pursuant to any other Transaction Document within five (5) business days of
      the
      date such payments are due and such default is not fully cured within two (2)
      business days after the Holder delivers written notice to the Maker of the
      occurrence thereof.

     

    Section
      2.2 Remedies
      Upon An Event of Default. If an Event of Default shall have occurred and
      shall be continuing, the Holder of this Note may at any time at its option,
      (a)
      declare the entire unpaid principal balance of this Note, together with all
      interest accrued hereon, due and payable, and thereupon, the same shall be
      accelerated and so due and payable, without presentment, demand, protest, or
      notice, all of which are hereby expressly unconditionally and irrevocably waived
      by the Maker; provided, however, that upon the occurrence of an
      Event of Default described in (i) Sections 2.1 (f) or (g), the outstanding
      principal balance and accrued interest hereunder shall be automatically due
      and
      payable and (ii) Sections 2.1 (b)-(e) and (h), demand the prepayment of this
      Note pursuant to Section 3.1 hereof, or (b) exercise or otherwise enforce any
      one or more of the Holder’s rights, powers, privileges, remedies and interests
      under this Note, the Purchase Agreement or applicable law. No course of delay
      on
      the part of the Holder shall operate as a waiver thereof or otherwise prejudice
      the right of the Holder. No remedy conferred hereby shall be exclusive of any
      other remedy referred to herein or now or hereafter available at law, in equity,
      by statute or otherwise.

     

    ARTICLE
      III

     

    PREPAYMENT

     

    Section
      3.1 Prepayment.

     

    Maker
      Prepayment Option.
      The
      Maker may prepay in cash all or any portion of the outstanding principal amount
      of this Note upon ten (10) business days prior written notice to the Holder
      (the
“Maker’s
      Prepayment Notice”)
      at a
      price equal to one hundred percent (100%)
      of the
      aggregate principal amount of this Note, plus accrued and unpaid interest
(the
      “Maker’s
      Prepayment Price”);
      provided,
      however,
      that if
      during the period between delivery of the Maker’s Prepayment Notice and the
      Maker’s Prepayment Date (as defined below), a holder shall become entitled to
      deliver a Notice of Prepayment at Option of Holder Upon Major Transaction or
      Notice of Prepayment at Option of Holder upon Triggering Event, then such rights
      of the Holder shall take precedence over the previously delivered Maker
      Prepayment Notice. The Maker’s Prepayment Notice shall state the date of
      prepayment which date shall be the eleventh (11th)
      day
      after the Maker has delivered the Maker’s Prepayment Notice (the “Maker’s
      Prepayment Date”),
      the
      Maker’s Prepayment Price and the principal amount of the Note to be prepaid by
      the Maker. The Maker shall deliver the Maker’s Prepayment Price on the Maker’s
      Prepayment Date. If the Maker fails to pay the Maker’s Prepayment Price within
      five (5) days after the Maker’s Prepayment Date, the prepayment will be declared
      null and void and the Maker shall lose its right to serve a Maker’s Prepayment
      Notice pursuant to this Section 3.1(k) in the future.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    ARTICLE
      IV

     

    MISCELLANEOUS

     

    Section
      4.1 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, telecopy or facsimile at the address or number designated in the
      Purchase Agreement (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 Maker will also give written notice to the Holder at least ten (10) days
      prior to the date on which any dissolution, liquidation or winding-up will
      take
      place and in no event shall such notice be provided to the Holder prior to
      such
      information being made known to the public. 

     

    Section
      4.2 Governing
      Law. This Note 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 Note shall not be interpreted
      or
      construed with any presumption against the party causing this Note to be
      drafted.

     

    Section
      4.3 Headings.
      Article and section headings in this Note are included herein for purposes
      of
      convenience of reference only and shall not constitute a part of this Note
      for
      any other purpose.

     

    Section
      4.4 Remedies,
      Characterizations, Other Obligations, Breaches and Injunctive Relief. The
      remedies provided in this Note shall be cumulative and in addition to all other
      remedies available under this Note, at law or in equity (including, without
      limitation, a decree of specific performance and/or other injunctive relief),
      no
      remedy contained herein shall be deemed a waiver of compliance with the
      provisions giving rise to such remedy and nothing herein shall limit a Holder’s
      right to pursue actual damages for any failure by the Maker to comply with
      the
      terms of this Note. Amounts set forth or provided for herein with respect to
      payments, conversion and the like (and the computation thereof) shall be the
      amounts to be received by the Holder thereof and shall not, except as expressly
      provided herein, be subject to any other obligation of the Maker (or the
      performance thereof). The Maker acknowledges that a breach by it of its
      obligations hereunder will cause irreparable and material harm to the Holder
      and
      that the remedy at law for any such breach may be inadequate. Therefore the
      Maker agrees that, in the event of any such breach or threatened breach, the
      Holder shall be entitled, in addition to all other available rights and
      remedies, at law or in equity, to seek and obtain such equitable relief,
      including but not limited to an injunction restraining any such breach or
      threatened breach, without the necessity of showing economic loss and without
      any bond or other security being required. 

     

    Section
      4.5 Enforcement
      Expenses. The Maker agrees to pay all costs and expenses of enforcement of
      this Note, including, without limitation, reasonable attorneys’ fees and
      expenses.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    Section
      4.6 Binding
      Effect. The obligations of the Maker and the Holder set forth herein shall
      be binding upon the successors and assigns of each such party, whether or not
      such successors or assigns are permitted by the terms hereof.

     

    Section
      4.7 Amendments.
      This Note may not be modified or amended in any manner except in writing
      executed by the Maker and the Holder.

     

    Section
      4.8 Compliance
      with Securities Laws. The Holder of this Note acknowledges that this Note is
      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 shall not offer, sell
      or
      otherwise dispose of this Note. This Note and any Note issued in substitution
      or
      replacement therefor shall be stamped or imprinted with a legend in
      substantially the following form:

     

    “THIS
      NOTE
      HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED OR
      OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE
      MAKER OF AN OPINION OF COUNSEL IN THE FORM, SUBSTANCE AND SCOPE REASONABLY
      SATISFACTORY TO THE MAKER THAT THIS NOTE MAY BE SOLD, TRANSFERRED, HYPOTHECATED
      OR OTHERWISE DISPOSED OF, UNDER AN EXEMPTION FROM REGISTRATION UNDER THE ACT
      AND
      SUCH STATE SECURITIES LAWS.”

    

    Section
      4.9 Consent
      to Jurisdiction. Each of the Maker and the Holder (i) hereby irrevocably
      submits to the exclusive jurisdiction of the United States District Court
      sitting in the Southern District of New York and the courts of the State of
      New
      York located in New York county for the purposes of any suit, action or
      proceeding arising out of or relating to this Note and (ii) hereby waives,
      and
      agrees not to assert in any such suit, action or proceeding, any claim that
      it
      is not personally subject to the jurisdiction of such court, that the suit,
      action or proceeding is brought in an inconvenient forum or that the venue
      of
      the suit, action or proceeding is improper. Each of the Maker and the Holder
      consents 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 the Purchase Agreement and agrees that such service shall constitute
      good
      and sufficient service of process and notice thereof. Nothing in this Section
      4.9 shall affect or limit any right to serve process in any other manner
      permitted by law. Each of the Maker and the Holder hereby agree that the
      prevailing party in any suit, action or proceeding arising out of or relating
      to
      this Note shall be entitled to reimbursement for reasonable legal fees from
      the
      non-prevailing party. 

     

    Section
      4.10 Parties
      in Interest. This Note shall be binding upon, inure to the benefit of and be
      enforceable by the Maker, the Holder and their respective successors and
      permitted assigns.

     

    Section
      4.11 Failure
      or Indulgence Not Waiver. No failure or delay on the part of the Holder in
      the exercise of any power, right or privilege hereunder shall operate as a
      waiver thereof, nor shall any single or partial exercise of any such power,
      right or privilege preclude other or further exercise thereof or of any other
      right, power or privilege.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    Section
      4.12 Maker
      Waivers. Except as otherwise specifically provided herein, the Maker and all
      others that may become liable for all or any part of the obligations evidenced
      by this Note, hereby waive presentment, demand, notice of nonpayment, protest
      and all other demands’ and notices in connection with the delivery, acceptance,
      performance and enforcement of this Note, and do hereby consent to any number
      of
      renewals of extensions of the time or payment hereof and agree that any such
      renewals or extensions may be made without notice to any such persons and
      without affecting their liability herein and do further consent to the release
      of any person liable hereon, all without affecting the liability of the other
      persons, firms or Maker liable for the payment of this Note, AND DO HEREBY
      WAIVE
      TRIAL BY JURY.

     

    (a) No
      delay
      or omission on the part of the Holder in exercising its rights under this Note,
      or course of conduct relating hereto, shall operate as a waiver of such rights
      or any other right of the Holder, nor shall any waiver by the Holder of any
      such
      right or rights on any one occasion be deemed a waiver of the same right or
      rights on any future occasion.

     

    (b) THE
      MAKER
      ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A COMMERCIAL
      TRANSACTION, AND TO THE EXTENT ALLOWED BY APPLICABLE LAW, HEREBY WAIVES ITS
      RIGHT TO NOTICE AND HEARING WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE
      HOLDER OR ITS SUCCESSORS OR ASSIGNS MAY DESIRE TO USE.

     

    Section
      4.13 Definitions.
      For the purposes hereof, the following terms shall have the following
      meanings:

     

    “Person”
means
      an individual or a corporation, partnership, trust, incorporated or
      unincorporated association, joint venture, limited liability company, joint
      stock company, government (or an agency or political subdivision thereof) or
      other entity of any kind.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the Maker has caused this Note to be duly executed and
      delivered as of the day and year first written above. 

     

    
      	 	 	 
	 	INTELLIGENTIAS,
              INC.
	 
 	 
 	 
 
	 	By:  	/s/ Luigi
              Caramico   
	 	
              
Luigi
              Caramico
              
              PresidentEXHIBIT
        10.3

      

      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.

      

      SERIES
        A
        WARRANT TO PURCHASE

      

      SHARES
        OF
        COMMON STOCK

      

      OF

      

      INTELLIGENTIAS,
        INC. 

      

      Expires
        June 13, 2014

      

      
        	
                No.:
                  W-07-01

              	
                Number
                  of Shares: 5,500,000

              
	
                Date
                  of Issuance: June 13, 2007

              	
                Warrant
                  Price $2.05

              

      

      

      FOR
        VALUE
        RECEIVED, the undersigned, Intelligentias, Inc., a Nevada corporation (together
        with its successors and assigns, the "Issuer"),
        hereby certifies that Vision
        Opportunity Master Fund, Ltd. or
        its
        registered assigns is entitled to subscribe for and purchase, during the
        Term
        (as hereinafter defined), up to Five Million Five Hundred Thousand (5,500,000)
        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, subject,
        however, to the provisions and upon 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 shall commence on June 13, 2007 and shall expire at
        6:00
        p.m., eastern time, on June 13, 2014 (such period being the "Term").

      

      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 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 and commencing one
        (1)
        year following the Original Issue Date if (i) 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) and (ii) a registration statement under the
        Securities Act providing for the resale of the Warrant Stock is not then
        in
        effect (unless the Holder fails to exercise its piggyback registration rights
        following delivery of written notice by the Issuer in accordance with Section
        18
        hereof or the Warrant Stock may be sold without any volume limitations pursuant
        to Rule 144(k) of the Securities Act), 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, certificates for the shares of Warrant Stock
        so
        purchased shall be dated the date of such exercise and 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,
        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.
        Notwithstanding the foregoing to the contrary, the Issuer or its transfer
        agent
        shall only be obligated to issue and deliver the shares to the DTC on a holder’s
        behalf via DWAC if such exercise is in connection with a sale and the
        Issuer and its transfer agent are participating in DTC through the DWAC
        system.
        The
        Holder shall deliver this original Warrant, or an indemnification undertaking
        with respect to such Warrant in the case of its loss, theft or destruction,
        at
        such time that this Warrant is fully exercised. With respect to partial
        exercises of this Warrant, the Issuer shall keep written records for the
        Holder
        of the number of shares of Warrant Stock exercised as of each date of
        exercise.

      

      (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 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.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      (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.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (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 and the
        conditions set forth below shall have been satisfied. Such proposed transfer
        will not be effected until: (a) 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, (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; and (b) either (i) the Issuer
        has
        received an opinion of counsel reasonably satisfactory to the Issuer, to
        the
        effect that registration or qualification under the securities or "blue sky"
        laws of any state is not required in connection with such proposed disposition,
        or (ii) compliance with applicable state securities or "blue sky" laws has
        been
        effected or a valid exemption exists with respect thereto. The Issuer will
        respond to any such notice from a holder within three (3) Trading Days. 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
        Holder
        without a legend, in lieu of delivering physical certificates representing
        the
        Warrant Stock, the Issuer shall cause, upon request of such Holder, 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), if applicable. 

       

      (i) 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 non-assessable 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 the issuance upon exercise of this Warrant a sufficient number
        of
        authorized but unissued shares of Common Stock to provide for the exercise
        of
        this Warrant without regard to any limitations on exercise.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      (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
        commercially reasonable 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 commercially reasonable
        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.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      (e) Payment
        of Taxes.
        The
        Issuer will pay any documentary stamp taxes attributable to the initial issuance
        of the Warrant Stock issuable upon exercise of this 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
        representing Warrant Stock in a name other than that of the Holder in respect
        to
        which such shares are issued.

      

      4. Adjustment
        of Warrant Price and Number of Shares Issuable Upon Exercise.
        The
        Warrant Price and the number of shares of Warrant Stock that may be purchased
        upon exercise of this Warrant 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 in the case of each such Triggering Event, proper
        provision shall be made to the Warrant Price and the number of shares of
        Warrant
        Stock that may be purchased upon exercise of this Warrant 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
        as
        adjusted to take into account 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, and the Warrant Price shall be adjusted
        to
        equal the product of (A) the closing price of the common stock of the continuing
        or surviving corporation as a result of such Triggering Event as of the date
        immediately preceding the date of the consummation of such Triggering Event
        multiplied by (B) the quotient of (i) the Warrant Price divided by (ii) the
        Per
        Share Market Value of the Common Stock as of the date immediately preceding
        the
        Original Issue Date; provided,
        however,
        the
        Holder at its option may elect to receive an amount in cash equal to the
        value
        of this Warrant calculated in accordance with the Black-Scholes formula.
        Immediately upon the occurrence of a Triggering Event, the Issuer shall notify
        the Holder in writing of such Triggering Event and provide the calculations
        in
        determining the number of shares of Warrant Stock issuable upon exercise
        of the
        new warrant and the adjusted Warrant Price. Upon the Holder’s request, the
        continuing or surviving corporation as a result of such Triggering Event
        shall
        issue to the Holder a new warrant of like tenor evidencing the right to purchase
        the adjusted number of shares of Warrant Stock and the adjusted Warrant Price
        pursuant to the terms and provisions of this Section 4(a)(i). 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 company that
        has a
        class of equity securities registered
        pursuant to the Securities Exchange Act of 1934, as amended, and its common
        stock is listed or quoted on a national securities exchange, national automated
        quotation system 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 securities exchange, national
        automated quotation system or the OTC Bulletin Board, then the Holder shall
        have
        the right to demand that the Issuer pay to the Holder an amount in cash equal
        to
        the value of this Warrant calculated in accordance with the Black-Scholes
        formula.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      (ii) In
        the
        event that the Holder has elected not to exercise this Warrant prior to the
        consummation of a Triggering Event and has also elected not to receive an
        amount
        in cash equal to the value of this Warrant calculated in accordance with
        the
        Black-Scholes formula pursuant to the provisions of Section 4(a)(i) above,
        so
        long as the surviving entity pursuant to any Triggering Event is a company
        that
        has a class of equity securities registered
        pursuant to the Securities Exchange Act of 1934, as amended, and its common
        stock is listed or quoted on a national securities exchange, national automated
        quotation system or the OTC Bulletin Board,
        the
        surviving entity and/or 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 the surviving entity and/or
        each such Person shall have similarly delivered to such Holder an opinion
        of
        counsel for the surviving entity and/or each 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 the surviving entity and/or each such Person may be required
        to deliver upon any exercise of this Warrant or the exercise of any rights
        pursuant hereto. 

      

      (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, 

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      (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 dividend
        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),

      

      (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 mutually
        agreed upon by the Issuer and 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). 

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      (d) Issuance
        of Additional Shares of Common Stock.
        In the
        event the Issuer shall at any time following the Original Issuance Date issue
        any Additional Shares of Common Stock (otherwise than as provided in the
        foregoing subsections (b) through (c) of this Section 4), at a price per
        share
        less than the Warrant Price then in effect or without consideration, then
        the
        Warrant Price upon each such issuance shall be adjusted to the price equal
        to
        the consideration per share paid for such Additional Shares of Common
        Stock.

       

      (e)  Issuance
        of Common Stock Equivalents.
        In the
        event the Issuer shall at any time following the Original Issuance Date 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(d). 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.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

        (f)
          Other
          Provisions applicable to Adjustments under this Section.
          The
          following provisions shall be applicable 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, as determined reasonably and in good
        faith by the Board, 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. The
        consideration for any Additional Shares of Common Stock issuable pursuant
        to any
        warrants or other rights to subscribe for or purchase the same shall be the
        consideration received by the Issuer for issuing such warrants or other rights
        plus the additional consideration payable to the Issuer upon exercise of
        such
        warrants or other rights. 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 warrants or other rights
        to
        subscribe for or purchase such Common Stock Equivalents, plus the consideration
        paid or payable to the Issuer in respect of the subscription for or purchase
        of
        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(f)(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.

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      (iii) Fractional
        Interests.
        In
        computing adjustments under this Section 4, fractional interests in Common
        Stock
        shall be taken into account to the nearest 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.

       

      (g) 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.

      

      (h) 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 exercises
        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 selected by
        the
        Issuer and reasonably acceptable to the Holder. The firm selected by the
        Issuer
        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.

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      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 Exercise Restriction.
        Notwithstanding anything to the contrary set forth in this Warrant, at no
        time
        may a Holder of this Warrant exercise 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 9.9% 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 12 hereof) (the "Waiver
        Notice")
        that
        such Holder would like to waive this Section 7 with regard to any or all
        shares
        of Common Stock issuable upon exercise of this Warrant, this Section 7 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.

      

      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
        the conversion or exercise of convertible or exercisable securities issued
        or
        outstanding on or prior to the date of the Purchase Agreement or issued pursuant
        to the Purchase Agreement (so long as the conversion or exercise price in
        such
        securities are not amended to lower such price and/or adversely affect the
        Holders), (iii) the Warrant Stock, (iv) 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, (v) Common
        Stock
        issued or the issuance or grants of options to purchase Common Stock pursuant
        to
        the Issuer’s stock option plans and incentive compensation from time to time so
        long as approved by the Board, (vi) securities issued in the next financing
        to
        be consummated by the Issuer within six (6) months following the Original
        Issue
        Date, and (vii) any warrants issued to the placement agent and its designees
        for
        the transactions contemplated by the Purchase Agreement.

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      "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, $0.001 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.

      

      "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
        Intelligentias, Inc., a Nevada corporation, and its successors. 

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      "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
        June 13, 2007.

      

      "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.

      

      "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 "Pink Sheet" quotes for the applicable 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 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.

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      "Purchase
        Agreement"
        means
        the Note and Warrant Purchase Agreement dated as of June 13, 2007, among
        the
        Issuer and the Purchasers.

      

      "Purchasers"
        means
        the purchasers of the senior secured promissory notes and the Warrants issued
        by
        the Issuer pursuant to the Purchase Agreement.

      

      "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.

      

      "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.

      

      "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. 

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      "Warrant
        Price"
        initially means $2.05, 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.

      

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

      

      9. 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.

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      10. 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 10 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.

      

      11. 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 11 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 or the Purchase Agreement, 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.

      

      12. 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:

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

      
        
          	
                  If
                    to the Issuer:

                	
                  Intelligentias,
                    Inc.

                
	 	
                  303
                    Twin Dolphin Drive, 6th
                    Floor

                  Redwood
                    City, California 94065

                  Attention:
                    Chief Executive Officer

                  Tel.
                    No.: (650) 888-2083 

                  Fax
                    No.: (650) 357-6901

                

        

        

        
          	
                  with
                    copies (which copies

                	 
	
                  shall
                    not constitute notice)

                	 
	
                  to:

                	
                  Greenberg
                    Traurig, LLP

                
	
                	
                  MetLife
                    Building

                
	
                	
                  200
                    Park Avenue, 15th
                    Floor

                
	 	
                  New
                    York, New York 10166

                
	 	
                  Attention:
                    Spencer G. Feldman, Esq.

                
	 	
                  Tel
                    No.: (212) 801-9200

                
	 	
                  Fax
                    No.: (212) 801-6400

                

        

        

        
          	
                  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.

       

      13. 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.

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      14. 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.

      

      15. 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.

      

      16. 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.

      

      17. 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.

      

      18. Registration
        Rights.
        In
        the
        event the Issuer shall determine to proceed with the preparation and filing
        of a
        registration statement under the Securities Act in connection with the proposed
        offer and sale of any of its securities by it or any of its security holders
        (other than a registration statement on Form S-4, S-8 or other limited
        purpose form), then the Issuer will give written notice of its determination
        to
        the Holder. Upon the written request from the Holder, the Issuer will cause
        all
        shares of Warrant Stock to be included in such registration statement, subject
        to any customary underwriter cutbacks if applicable, all to the extent required
        to permit the resale by the Holder of such shares of Warrant Stock. The Holder
        shall provide all required information necessary to be a selling security
        holder. The Issuer shall provide a written request to the Holder for such
        information and the Holder shall have a reasonable time after receiving such
        request to furnish such information. 

      

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK]

      

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

      

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

      

      
        	 	 	 
	 	INTELLIGENTIAS,
                INC. 
	 
 	 
 	 
 
	 	By:  	/s/ Luigi
                Caramico
	 	
                
Luigi
                Caramico
	 	President

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      EXERCISE
        FORM

      SERIES
        A
        WARRANT

      

      INTELLIGENTIAS,
        INC.

      

      The
        undersigned _______________, pursuant to the provisions of the within Warrant,
        hereby elects to purchase _____ shares of Common Stock of Intelligentias,
        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: _________________________

      

      The
        undersigned is an “accredited investor” as defined in Regulation D under the
        Securities Act of 1933, as amended.

       

      The
        undersigned intends that payment of the Warrant Price shall be made as (check
        one): 

       

      Cash
        Exercise_______ 

       

      Cashless
        Exercise_______

       

      If
        the
        Holder has elected a Cash Exercise, the Holder shall pay the sum of $________
        by
        certified or official bank check (or via wire transfer) to the Issuer in
        accordance with the terms of the Warrant. 

       

      If
        the
        Holder has elected a Cashless Exercise, a certificate shall be issued to
        the
        Holder for the number of shares equal to the whole number portion of the
        product
        of the calculation set forth below, which is ___________. The Company shall
        pay
        a cash adjustment in respect of the fractional portion of the product of
        the
        calculation set forth below in an amount equal to the product of the fractional
        portion of such product and the Per Share Market Value on the date of exercise,
        which product is ____________.

       

      X
        = Y -
(A)(Y)

       
        B

      

      Where: 

      

      The
        number of shares of Common Stock to be issued to the Holder
        __________________(“X”).

      

      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 ___________________________ (“Y”). 

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

       

      The
        Warrant Price ______________ (“A”). 

      

      The
        Per
        Share Market Value of one share of Common Stock _______________________
        (“B”).

       

      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 _______________.

      

      
        
          
          

        

        
          22

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