Document:

EXHIBIT 4.1

                          CYBERTEL COMMUNICATIONS CORP.
              EMPLOYEE STOCK INCENTIVE PLAN FOR THE YEAR 2004 NO. 3

     1.        General  Provisions.
               -------------------

     1.1       Purpose.  This  Stock  Incentive Plan (the "Plan") is intended to
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allow  designated officers and employees (all of whom are sometimes collectively
referred  to  herein  as  the "Employees," or individually as the "Employee") of
Cybertel  Communications  Corp.,  a  Nevada  corporation (the "Company") and its
Subsidiaries  (as  that  term is defined below) which they may have from time to
time (the Company and such Subsidiaries are referred to herein as the "Company")
to receive certain options (the "Stock Options") to purchase common stock of the
Company,  par value $0.001 per share (the "Common Stock"), and to receive grants
of  the Common Stock subject to certain restrictions (the "Awards").  As used in
this  Plan,  the  term  "Subsidiary"  shall  mean  each  corporation  which is a
"subsidiary  corporation" of the Company within the meaning of Section 424(f) of
the Internal Revenue Code of 1986, as amended (the "Code").  The purpose of this
Plan  is  to  provide  the  Employees,  who  make  significant and extraordinary
contributions  to  the  long-term  growth  and  performance of the Company, with
equity-based  compensation  incentives, and to attract and retain the Employees.

     1.2       Administration.
               --------------

     1.2.1     The Plan shall be administered by the Compensation Committee (the
"Committee")  of,  or  appointed  by, the Board of Directors of the Company (the
"Board").  The  Committee  shall select one of its members as Chairman and shall
act  by  vote  of  a  majority  of a quorum, or by unanimous written consent.  A
majority  of  its  members  shall  constitute  a quorum.  The Committee shall be
governed  by the provisions of the Company's Bylaws and of Nevada law applicable
to  the  Board,  except as otherwise provided herein or determined by the Board.

     1.2.2     The  Committee  shall  have  full  and complete authority, in its
discretion,  but  subject  to the express provisions of this Plan (a) to approve
the Employees nominated by the management of the Company to be granted Awards or
Stock  Options;  (b)  to  determine  the number of Awards or Stock Options to be
granted  to  an  Employee; (c) to determine the time or times at which Awards or
Stock Options shall be granted; to establish the terms and conditions upon which
Awards  or  Stock  Options  may  be  exercised;  (d)  to  remove  or  adjust any
restrictions and conditions upon Awards or Stock Options; (e) to specify, at the
time  of  grant,  provisions  relating to exercisability of Stock Options and to
accelerate  or otherwise modify the exercisability of any Stock Options; and (f)
to  adopt such rules and regulations and to make all other determinations deemed
necessary or desirable for the administration of this Plan.  All interpretations
and  constructions  of  this  Plan  by  the  Committee,  and  all of its actions
hereunder,  shall  be  binding  and  conclusive on all persons for all purposes.

     1.2.3     The  Company  hereby  agrees  to indemnify and hold harmless each
Committee  member  and each Employee, and the estate and heirs of such Committee
member  or  Employee,  against  all  claims,  liabilities,  expenses, penalties,
damages  or  other  pecuniary losses, including legal fees, which such Committee
member  or  Employee,  his  estate  or  heirs  may  suffer  as  a  result of his
responsibilities,  obligations  or  duties  in connection with this Plan, to the
extent  that  insurance,  if  any, does not cover the payment of such items.  No
member  of  the  Committee  or  the  Board  shall  be  liable  for any action or
determination made in good faith with respect to this Plan or any Award or Stock
Option  granted  pursuant  to  this  Plan.

     1.3       Eligibility and Participation.  The Employees eligible under this
               -----------------------------
Plan shall be approved by the Committee from those Employees who, in the opinion
of  the  management  of  the Company, are in positions which enable them to make
significant  contributions  to  the  long-term  performance  and  growth  of the
Company.  In  selecting  the  Employees  to  whom  Award or Stock Options may be
granted,  consideration  shall  be given to factors such as employment position,
duties  and  responsibilities, ability, productivity, length of service, morale,
interest  in  the  Company  and  recommendations  of  supervisors.

     1.4       Shares Subject to this Plan.  The maximum number of shares of the
               ---------------------------
Common  Stock  that  may  be  issued  pursuant to this Plan shall be 900,000,000
subject to adjustment pursuant to the provisions of Paragraph 4.1.  If shares of
the Common Stock awarded or issued under this Plan are reacquired by the Company
due  to  a  forfeiture

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or  for  any  other  reason, such shares shall be cancelled and thereafter shall
again  be  available  for  purposes  of  this  Plan.  If a Stock Option expires,
terminates or is cancelled for any reason without having been exercised in full,
the shares of the Common Stock not purchased thereunder shall again be available
for  purposes  of  this  Plan.

     2.        Provisions  Relating  to  Stock  Options.
               ----------------------------------------

     2.1       Grants  of  Stock Options.  The Committee may grant Stock Options
               -------------------------
in such amounts, at such times, and to the Employees nominated by the management
of  the  Company  as  the  Committee,  in  its discretion, may determine.  Stock
Options  granted  under  this  Plan  shall  constitute "incentive stock options"
within the meaning of Section 422 of the Code, if so designated by the Committee
on  the  date  of  grant.  The Committee shall also have the discretion to grant
Stock  Options  which  do  not  constitute incentive stock options, and any such
Stock  Options  shall be designated non-statutory stock options by the Committee
on  the  date  of  grant.  The aggregate Fair Market Value (determined as of the
time  an  incentive stock option is granted) of the Common Stock with respect to
which incentive stock options are exercisable for the first time by any Employee
during  any  one calendar year (under all plans of the Company and any parent or
subsidiary  of  the  Company)  may not exceed the maximum amount permitted under
Section  422  of the Code (currently, $100,000.00).  Non-statutory stock options
shall  not  be  subject  to  the limitations relating to incentive stock options
contained  in the preceding sentence.  Each Stock Option shall be evidenced by a
written  agreement (the "Option Agreement") in a form approved by the Committee,
which shall be executed on behalf of the Company and by the Employee to whom the
Stock  Option is granted, and which shall be subject to the terms and conditions
of  this  Plan.  In  the  discretion of the Committee, Stock Options may include
provisions  (which  need  not  be  uniform),  authorized by the Committee in its
discretion,  that  accelerate  an  Employee's  rights  to exercise Stock Options
following  a  "Change in Control," upon termination of the Employee's employment
by  the  Company  without  "Cause" or by the Employee for "Good Reason," as such
terms  are  defined in Paragraph 3.1 hereof.  The holder of a Stock Option shall
not  be  entitled  to  the privileges of stock ownership as to any shares of the
Common  Stock  not  actually  issued  to  such  holder.

     2.2       Purchase  Price.  The  purchase  price  (the "Exercise Price") of
               ---------------
shares  of  the  Common Stock subject to each Stock Option (the "Option Shares")
shall  not  be less than 85 percent of the Fair Market Value of the Common Stock
on the date of the grant of the option.  For an Employee holding greater than 10
percent  of the total voting power of all stock of the Company, either Common or
Preferred, the Exercise Price of an incentive stock option shall be at least 110
percent of the Fair Market Value of the Common Stock on the date of the grant of
the  option.  As  used  herein,  "Fair  Market Value" means the mean between the
highest  and  lowest  reported  sales prices of the Common Stock on the New York
Stock  Exchange  Composite Tape or, if not listed on such exchange, on any other
national  securities  exchange  on  which  the  Common Stock is listed or on The
Nasdaq  Stock  Market,  or,  if  not  so listed on any other national securities
exchange  or  The  Nasdaq Stock Market, then the average of the bid price of the
Common  Stock  during  the  last  five  trading  days  on the OTC Bulletin Board
immediately  preceding  the  last  trading day prior to the date with respect to
which  the  Fair  Market  Value is to be determined.  If the Common Stock is not
then  publicly  traded,  then the Fair Market Value of the Common Stock shall be
the  book value of the Company per share as determined on the last day of March,
June,  September,  or  December  in  any  year  closest  to  the  date  when the
determination  is  to  be  made.  For  the  purpose  of  determining  book value
hereunder,  book  value  shall be determined by adding as of the applicable date
called  for  herein  the capital, surplus, and undivided profits of the Company,
and after having deducted any reserves theretofore established; the sum of these
items  shall  be divided by the number of shares of the Common Stock outstanding
as  of  said date, and the quotient thus obtained shall represent the book value
of  each  share  of  the  Common  Stock  of  the  Company.

     2.3       Option  Period.  The  Stock  Option  period  (the  "Term")  shall
               --------------
commence  on the date of grant of the Stock Option and shall be 10 years or such
shorter  period  as  is  determined  by  the Committee.  Each Stock Option shall
provide  that  it  is exercisable over its term in such periodic installments as
the  Committee  may  determine,  subject  to  the provisions of Paragraph 2.4.1.
Section  16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act")  exempts persons normally subject to the reporting requirements of Section
16(a)  of  the  Exchange  Act (the "Section 16 Reporting Persons") pursuant to a
qualified  employee stock option plan from the normal requirement of not selling
until at least six months and one day from the date the Stock Option is granted.

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     2.4       Exercise  of  Options.
               ---------------------

     2.4.1     Each  Stock  Option may be exercised in whole or in part (but not
as  to  fractional  shares) by delivering it for surrender or endorsement to the
Company,  attention  of  the Corporate Secretary, at the principal office of the
Company,  together with payment of the Exercise Price and an executed Notice and
Agreement of Exercise in the form prescribed by Paragraph 2.4.2.  Payment may be
made  (a)  in  cash,  (b)  by  cashier's or certified check, (c) by surrender of
previously owned shares of the Common Stock valued pursuant to Paragraph 2.2 (if
the Committee authorizes payment in stock in its discretion), (d) by withholding
from  the  Option  Shares which would otherwise be issuable upon the exercise of
the Stock Option that number of Option Shares equal to the exercise price of the
Stock  Option,  if  such  withholding  is  authorized  by  the  Committee in its
discretion,  or  (e)  in the discretion of the Committee, by the delivery to the
Company  of the optionee's promissory note secured by the Option Shares, bearing
interest  at  a  rate  sufficient  to  prevent  the imputation of interest under
Sections  483 or 1274 of the Code, and having such other terms and conditions as
may  be  satisfactory  to  the  Committee.  Subject  to  the  provisions of this
Paragraph  2.4  and Paragraph 2.5, the Employee has the right to exercise his or
her  Stock  Options  at the rate of at least 20 percent per year over five years
from  the  date  the  Stock  Option  is  granted.

     2.4.2     Exercise  of  each Stock Option is conditioned upon the agreement
of  the  Employee  to  the  terms  and conditions of this Plan and of such Stock
Option  as  evidenced  by  the Employee's execution and delivery of a Notice and
Agreement  of  Exercise  in  a  form  to  be  determined by the Committee in its
discretion.  Such Notice and Agreement of Exercise shall set forth the agreement
of  the Employee that (a) no Option Shares will be sold or otherwise distributed
in violation of the Securities Act of 1933, as amended (the "Securities Act") or
any  other  applicable  federal  or state securities laws, (b) each Option Share
certificate  may be imprinted with legends reflecting any applicable federal and
state  securities  law  restrictions  and conditions, (c) the Company may comply
with  said securities law restrictions and issue "stop transfer" instructions to
its  Transfer  Agent  and  Registrar without liability, (d) if the Employee is a
Section  16 Reporting Person, the Employee will furnish to the Company a copy of
each  Form  4  or Form 5 filed by said Employee and will timely file all reports
required  under  federal  securities  laws, and (e) the Employee will report all
sales  of  Option  Shares  to the Company in writing on a form prescribed by the
Company.

     2.4.3     No  Stock  Option  shall  be  exercisable  unless  and  until any
applicable  registration  or  qualification  requirements  of  federal and state
securities  laws,  and  all  other  legal requirements, have been fully complied
with.  At no time shall the total number of securities issuable upon exercise of
all  outstanding  options  under  this  Plan, and the total number of securities
provided  for under any bonus or similar plan or agreement of the Company exceed
a  number  of  securities  which  is equal to 30 percent of the then outstanding
securities  of  the  Company,  unless  a  percentage  higher  than 30 percent is
approved  by at least two-thirds of the outstanding securities entitled to vote.
The  Company  will  use  reasonable  efforts  to maintain the effectiveness of a
Registration  Statement  under  the  Securities  Act  for  the issuance of Stock
Options  and  shares  acquired  thereunder,  but there may be times when no such
Registration  Statement  will  be  currently  effective.  The  exercise of Stock
Options  may  be  temporarily  suspended without liability to the Company during
times  when  no  such  Registration  Statement is currently effective, or during
times  when,  in  the  reasonable  opinion  of the Committee, such suspension is
necessary  to  preclude  violation  of  any  requirements  of  applicable law or
regulatory  bodies  having  jurisdiction  over the Company.  If any Stock Option
would expire for any reason except the end of its term during such a suspension,
then  if  exercise  of such Stock Option is duly tendered before its expiration,
such  Stock  Option  shall  be  exercisable  and exercised (unless the attempted
exercise  is  withdrawn)  as  of the first day after the end of such suspension.
The Company shall have no obligation to file any Registration Statement covering
resales  of  Option  Shares.

     2.5       Continuous  Employment.  Except  as  provided  in  Paragraph  2.7
               ----------------------
below, an Employee may not exercise a Stock Option unless from the date of grant
to  the  date of exercise the Employee remains continuously in the employ of the
Company.  For  purposes  of  this  Paragraph  2.5,  the  period  of  continuous
employment  of  an Employee with the Company shall be deemed to include (without
extending  the term of the Stock Option) any period during which the Employee is
on leave of absence with the consent of the Company, provided that such leave of
absence  shall  not  exceed  three  months  and that the Employee returns to the
employ  of  the  Company  at  the  expiration  of such leave of absence.  If the
Employee  fails to return to the employ of the Company at the expiration of such
leave  of  absence,  the  Employee's employment with the Company shall be deemed
terminated  as  of  the  date  such  leave of absence commenced.  The continuous
employment  of  an Employee with the Company shall also be deemed to include any
period  during  which the Employee is a member of the Armed Forces of the United
States,

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provided  that  the Employee returns to the employ of the Company within 90 days
(or  such  longer period as may be prescribed by law) from the date the Employee
first  becomes  entitled  to  a discharge from military service.  If an Employee
does  not  return  to  the  employ of the Company within 90 days (or such longer
period  as  may  be  prescribed by law) from the date the Employee first becomes
entitled  to  a  discharge from military service, the Employee's employment with
the  Company  shall  be  deemed to have terminated as of the date the Employee's
military  service  ended.

     2.6       Restrictions  on  Transfer.  Each Stock Option granted under this
               --------------------------
Plan shall be transferable only by will or the laws of descent and distribution.
No  interest  of  any  Employee  under this Plan shall be subject to attachment,
execution, garnishment, sequestration, the laws of bankruptcy or any other legal
or  equitable  process.  Each  Stock  Option  granted  under  this Plan shall be
exercisable  during  an  Employee's  lifetime  only  by  the  Employee or by the
Employee's  legal  representative.

     2.7       Termination  of  Employment.
               ---------------------------

     2.7.1     Upon  an  Employee's  Retirement,  Disability  (both  terms being
defined  below)  or  death,  (a)  all Stock Options to the extent then presently
exercisable  shall remain in full force and effect and may be exercised pursuant
to  the  provisions thereof, and (b) unless otherwise provided by the Committee,
all  Stock  Options to the extent not then presently exercisable by the Employee
shall  terminate  as of the date of such termination of employment and shall not
be  exercisable  thereafter.  Unless  employment  is  terminated  for  cause, as
defined  by applicable law, the right to exercise in the event of termination of
employment,  to the extent that the optionee is entitled to exercise on the date
the  employment  terminates  as  follows:

          (i)  At  least  six months from the date of termination if termination
was  caused  by  death  or  disability.

          (ii)  At least 30 days from the date of termination if termination was
caused  by  other  than  death  or  disability.

     2.7.2     Upon  the  termination  of  the employment of an Employee for any
reason other than those specifically set forth in Paragraph 2.7.1, (a) all Stock
Options  to  the  extent then presently exercisable by the Employee shall remain
exercisable  only  for a period of 90 days after the date of such termination of
employment  (except that the 90 day period shall be extended to 12 months if the
Employee  shall die during such 90 day period), and may be exercised pursuant to
the  provisions  thereof,  including  expiration  at  the  end of the fixed term
thereof,  and  (b) unless otherwise provided by the Committee, all Stock Options
to  the extent not then presently exercisable by the Employee shall terminate as
of  the  date  of  such  termination  of employment and shall not be exercisable
thereafter.

     2.7.3     For  purposes  of  this  Plan:

          (a)  "Retirement"  shall mean an Employee's retirement from the employ
of  the Company on or after the date on which the Employee attains the age of 65
years;  and

          (b)  "Disability"  shall  mean  total  and  permanent incapacity of an
Employee, due to physical impairment or legally established mental incompetence,
to perform the usual duties of the Employee's employment with the Company, which
disability  shall  be determined (i) on medical evidence by a licensed physician
designated  by  the  Committee, or (ii) on evidence that the Employee has become
entitled  to  receive  primary  benefits as a disabled employee under the Social
Security  Act  in  effect  on  the  date  of  such  disability.

     3.        Provisions  Relating  to  Awards.
               --------------------------------

     3.1       Grant  of  Awards.  Subject  to  the provisions of this Plan, the
               -----------------
Committee shall have full and complete authority, in its discretion, but subject
to  the  express  provisions  of this Plan, to (1) grant Awards pursuant to this
Plan,  (2)  determine  the  number of shares of the Common Stock subject to each
Award  (the  "Award Shares"), (3) determine the terms and conditions (which need
not  be  identical)  of  each  Award,  including  the  consideration  (if

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any)  to  be  paid  by  the  Employee  for  such Common Stock, which may, in the
Committee's  discretion,  consist  of  the delivery of the Employee's promissory
note  meeting  the  requirements  of  Paragraph  2.4.1, (4) establish and modify
performance  criteria  for  Awards,  and  (5)  make  all  of  the determinations
necessary or advisable with respect to Awards under this Plan.  Each Award under
this  Plan  shall  consist of a grant of shares of the Common Stock subject to a
restriction  period (after which the restrictions shall lapse), which shall be a
period  commencing  on  the date the Award is granted and ending on such date as
the  Committee  shall  determine  (the "Restriction Period").  The Committee may
provide  for  the lapse of restrictions in installments, for acceleration of the
lapse  of  restrictions  upon  the  satisfaction  of  such  performance or other
criteria or upon the occurrence of such events as the Committee shall determine,
and for the early expiration of the Restriction Period upon an Employee's death,
Disability  or  Retirement as defined in Paragraph 2.7.3, or, following a Change
of  Control, upon termination of an Employee's employment by the Company without
"Cause" or by the Employee for "Good Reason," as those terms are defined herein.
For  purposes  of  this  Plan:

     "Change  of  Control"  shall be deemed to occur (a) on the date the Company
first  has  actual  knowledge  that any person (as such term is used in Sections
13(d)  and  14(d)(2)  of  the  Exchange Act) has become the beneficial owner (as
defined  in  Rule  13(d)-3  under  the Exchange Act), directly or indirectly, of
securities of the Company representing 80 percent or more of the combined voting
power  of  the  Company's  then  outstanding  securities, or (b) on the date the
stockholders of the Company approve (i) a merger of the Company with or into any
other  corporation  in  which the Company is not the surviving corporation or in
which  the  Company  survives  as  a  subsidiary  of another corporation, (ii) a
consolidation  of  the  Company with any other corporation, or (iii) the sale or
disposition  of  all  or  substantially all of the Company's assets or a plan of
complete  liquidation.

     "Cause,"  when  used  with reference to termination of the employment of an
Employee by the Company for "Cause," shall mean:

                    (a)  The  Employee's  continuing willful and material breach
of his duties to the Company after he receives a demand from the Chief Executive
of  the  Company  specifying the manner in which he has willfully and materially
breached  such  duties, other than any such failure resulting from Disability of
the Employee or his resignation for "Good Reason," as defined herein; or

                    (b)  The  conviction  of  the  Employee  of  a  felony;  or

                    (c)  The Employee's commission of fraud in the course of his
employment  with  the  Company,  such  as  embezzlement  or  other  material and
intentional  violation  of  law  against  the  Company;  or

                    (d)  The  Employee's  gross misconduct causing material harm
to  the  Company.

     "Good  Reason"  shall  mean  any  one  or  more of the following, occurring
following  or in connection with a Change of Control and within 90 days prior to
the  Employee's resignation, unless the Employee shall have consented thereto in
writing:

                    (a)  The  assignment  to the Employee of duties inconsistent
with his executive status prior to the Change of Control or a substantive change
in  the  officer  or officers to whom he reports from the officer or officers to
whom  he  reported  immediately  prior  to  the  Change  of  Control;  or

                    (b)  The  elimination  or  reassignment of a majority of the
duties and responsibilities that were assigned to the Employee immediately prior
to  the  Change  of  Control;  or

                    (c)  A  reduction  by  the  Company in the Employee's annual
base  salary  as  in  effect  immediately  prior  to  the  Change of Control; or

                    (d)  The Company requiring the Employee to be based anywhere
outside  a  35-mile radius from his place of employment immediately prior to the
Change  of  Control,  except for required travel on the Company's business to an
extent  substantially consistent with the Employee's business travel obligations
immediately  prior  to  the  Change  of  Control;  or

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                    (e)  The  failure  of  the  Company  to grant the Employee a
performance  bonus  reasonably  equivalent  to the same percentage of salary the
Employee  normally  received  prior  to  the Change of Control, given comparable
performance  by  the  Company  and  the  Employee;  or

                    (f)  The  failure  of  the  Company to obtain a satisfactory
Assumption  Agreement  (as  defined  in  Paragraph  4.13  of  this  Plan) from a
successor,  or  the  failure  of  such  successor  to  perform  such  Assumption
Agreement.

     3.2       Incentive  Agreements.  Each  Award granted under this Plan shall
               ---------------------
be  evidenced  by  a  written  agreement  (an  "Incentive  Agreement") in a form
approved  by  the Committee and executed by the Company and the Employee to whom
the  Award  is  granted.  Each Incentive Agreement shall be subject to the terms
and conditions of this Plan and other such terms and conditions as the Committee
may  specify.

     3.3       Amendment,  Modification  and  Waiver  of  Restrictions.  The
               -------------------------------------------------------
Committee  may  modify  or  amend  any  Award  under  this  Plan  or  waive  any
restrictions  or conditions applicable to the Award; provided, however, that the
Committee may not undertake any such modifications, amendments or waivers if the
effect  thereof  materially increases the benefits to any Employee, or adversely
affects  the  rights  of  any  Employee  without  his  consent.

     3.4       Terms  and  Conditions  of  Awards.  Upon  receipt of an Award of
               ----------------------------------
shares  of the Common Stock under this Plan, even during the Restriction Period,
an  Employee  shall be the holder of record of the shares and shall have all the
rights  of  a  stockholder with respect to such shares, subject to the terms and
conditions  of  this  Plan  and  the  Award.

     3.4.1     Except  as otherwise provided in this Paragraph 3.4, no shares of
the  Common  Stock  received  pursuant  to  this  Plan shall be sold, exchanged,
transferred,  pledged,  hypothecated  or  otherwise  disposed  of  during  the
Restriction Period applicable to such shares.  Any purported disposition of such
Common Stock in violation of this Paragraph 3.4 shall be null and void.

     3.4.2     If  an Employee's employment with the Company terminates prior to
the expiration of the Restriction Period for an Award, subject to any provisions
of  the Award with respect to the Employee's death, Disability or Retirement, or
Change  of Control, all shares of the Common Stock subject to the Award shall be
immediately  forfeited  by  the  Employee and reacquired by the Company, and the
Employee  shall  have  no  further  rights  with  respect  to the Award.  In the
discretion  of  the Committee, an Incentive Agreement may provide that, upon the
forfeiture  by  an  Employee  of  Award  Shares,  the Company shall repay to the
Employee the consideration (if any) which the Employee paid for the Award Shares
on  the  grant  of  the Award.  In the discretion of the Committee, an Incentive
Agreement  may also provide that such repayment shall include an interest factor
on  such  consideration  from  the date of the grant of the Award to the date of
such  repayment.

     3.4.3     The  Committee  may require under such terms and conditions as it
deems  appropriate  or  desirable that (a) the certificates for the Common Stock
delivered  under  this Plan are to be held in custody by the Company or a person
or  institution  designated by the Company until the Restriction Period expires,
(b)  such  certificates shall bear a legend referring to the restrictions on the
Common Stock pursuant to this Plan, and (c) the Employee shall have delivered to
the Company a stock power endorsed in blank relating to the Common Stock.

     4.        Miscellaneous  Provisions.
               -------------------------

     4.1       Adjustments  Upon  Change  in  Capitalization.
               ---------------------------------------------

     4.1.1     The  number and class of shares subject to each outstanding Stock
Option, the Exercise Price thereof (but not the total price), the maximum number
of  Stock  Options  that  may  be granted under this Plan, the minimum number of
shares  as  to  which  a  Stock Option may be exercised at any one time, and the
number  and  class  of  shares  subject  to  each  outstanding  Award,  shall be
proportionately  adjusted in the event of any increase or decrease in the number
of  the  issued  shares  of  the  Common  Stock which results from a split-up or
consolidation  of  shares,  payment of a stock dividend or dividends exceeding a
total of five percent for which the record dates occur in any one fiscal year, a
recapitalization  (other than the conversion of convertible securities according
to  their

                                        6
<PAGE>
terms),  a  combination  of shares or other like capital adjustment, so that (a)
upon  exercise  of  the  Stock Option, the Employee shall receive the number and
class  of  shares  the  Employee  would  have received had the Employee been the
holder of the number of shares of the Common Stock for which the Stock Option is
being  exercised  upon  the  date  of such change or increase or decrease in the
number  of  issued shares of the Company, and (b) upon the lapse of restrictions
of  the  Award Shares, the Employee shall receive the number and class of shares
the  Employee  would  have  received if the restrictions on the Award Shares had
lapsed  on  the  date  of  such  change or increase or decrease in the number of
issued  shares  of  the  Company.

     4.1.2     Upon  a  reorganization,  merger  or consolidation of the Company
with  one  or  more  corporations  as  a  result of which the Company is not the
surviving  corporation  or  in  which  the  Company  survives  as a wholly-owned
subsidiary of another corporation, or upon a sale of all or substantially all of
the  property  of  the  Company  to  another  corporation,  or  any  dividend or
distribution  to  stockholders  of more than 10 percent of the Company's assets,
adequate  adjustment  or  other provisions shall be made by the Company or other
party  to  such transaction so that there shall remain and/or be substituted for
the  Option  Shares and Award Shares provided for herein, the shares, securities
or assets which would have been issuable or payable in respect of or in exchange
for  such  Option Shares and Award Shares then remaining, as if the Employee had
been  the  owner  of  such  shares as of the applicable date.  Any securities so
substituted shall be subject to similar successive adjustments.

     4.2       Withholding  Taxes.  The Company shall have the right at the time
               ------------------
of  exercise  of  any  Stock  Option,  the  grant  of  an Award, or the lapse of
restrictions on Award Shares, to make adequate provision for any federal, state,
local  or  foreign  taxes  which it believes are or may be required by law to be
withheld  with  respect  to  such  exercise (the "Tax Liability"), to ensure the
payment  of  any such Tax Liability.  The Company may provide for the payment of
any  Tax Liability by any of the following means or a combination of such means,
as  determined  by  the  Committee  in  its  sole and absolute discretion in the
particular  case  (1)  by requiring the Employee to tender a cash payment to the
Company,  (2) by withholding from the Employee's salary, (3) by withholding from
the  Option  Shares which would otherwise be issuable upon exercise of the Stock
Option,  or  from  the  Award  Shares  on  their  grant  or  date  of  lapse  of
restrictions,  that  number of Option Shares or Award Shares having an aggregate
Fair  Market  Value (determined in the manner prescribed by Paragraph 2.2) as of
the  date  the  withholding tax obligation arises in an amount which is equal to
the  Employee's  Tax  Liability or (4) by any other method deemed appropriate by
the  Committee.  Satisfaction  of  the  Tax  Liability of a Section 16 Reporting
Person  may  be made by the method of payment specified in clause (3) above only
if  the  following  two  conditions  are  satisfied:

                    (a)  The  withholding  of  Option Shares or Award Shares and
the  exercise  of the related Stock Option occur at least six months and one day
following the date of grant of such Stock Option or Award; and

                    (b)  The  withholding  of  Option  Shares or Award Shares is
made either (i) pursuant to an irrevocable election (the "Withholding Election")
made  by  the  Employee  at  least  six  months in advance of the withholding of
Options Shares or Award Shares, or (ii) on a day within a 10-day "window period"
beginning  on  the  third  business  day  following  the  date of release of the
Company's quarterly or annual summary statement of sales and earnings.

     Anything herein to the contrary notwithstanding, a Withholding Election may
be disapproved by the Committee at any time.

     4.3       Relationship  to Other Employee Benefit Plans.  Stock Options and
               ---------------------------------------------
Awards  granted hereunder shall not be deemed to be salary or other compensation
to  any  Employee  for  purposes  of  any pension, thrift, profit-sharing, stock
purchase  or any other employee benefit plan now maintained or hereafter adopted
by  the  Company.

     4.4       Amendments  and  Termination.  The  Board of Directors may at any
               ----------------------------
time suspend, amend or terminate this Plan.  No amendment, except as provided in
Paragraph  3.3,  or  modification of this Plan may be adopted, except subject to
stockholder  approval, which would (1) materially increase the benefits accruing
to  the  Employees  under  this  Plan,  (2)  materially  increase  the number of
securities  which may be issued under this Plan (except for adjustments pursuant
to  Paragraph  4.1  hereof),  or  (3)  materially  modify the requirements as to
eligibility  for  participation  in  this  Plan.

                                        7
<PAGE>
     4.5       Successors  in  Interest.  The  provisions  of  this Plan and the
               ------------------------
actions of the Committee shall be binding upon all heirs, successors and assigns
of the Company and of the Employees.

     4.6       Other  Documents.  All  documents prepared, executed or delivered
               ----------------
in  connection  with this Plan (including, without limitation, Option Agreements
and  Incentive  Agreements)  shall be, in substance and form, as established and
modified  by  the Committee; provided, however, that all such documents shall be
subject in every respect to the provisions of this Plan, and in the event of any
conflict between the terms of any such document and this Plan, the provisions of
this  Plan  shall  prevail.

     4.7       Fairness  of the Repurchase Price.  In the event that the Company
               ---------------------------------
repurchases  securities  upon  termination  of employment pursuant to this Plan,
either:  (a)  the  price  will  not  be  less  than the fair market value of the
securities  to  be repurchased on the date of termination of employment, and the
right to repurchase will be exercised for cash or cancellation of purchase money
indebtedness  for the securities within 90 days of termination of the employment
(or  in the case of securities issued upon exercise of options after the date of
termination,  within  90  days  after  the  date of the exercise), and the right
terminates  when the Company's securities become publicly traded, or (b) Company
will  repurchase  securities  at  the original purchase price, provided that the
right  to  repurchase  at  the  original purchase price lapses at the rate of at
least  20  percent  of the securities per year over five years from the date the
option  is  granted  (without  respect  to  the date the option was exercised or
became  exercisable)  and  the right to repurchase must be exercised for cash or
cancellation of purchase money indebtedness for the securities within 90 days of
termination  of  employment  (or  in  case of securities issued upon exercise of
options  after  the  date  of  termination, within 90 days after the date of the
exercise).

     4.8       No  Obligation  to Continue Employment.  This Plan and the grants
               --------------------------------------
which  might be made hereunder shall not impose any obligation on the Company to
continue  to  employ  any  Employee.  Moreover, no provision of this Plan or any
document executed or delivered pursuant to this Plan shall be deemed modified in
any  way  by any employment contract between an Employee (or other employee) and
the  Company.

     4.9       Misconduct  of  an Employee.  Notwithstanding any other provision
               ---------------------------
of  this  Plan, if an Employee commits fraud or dishonesty toward the Company or
wrongfully  uses  or  discloses  any  trade  secret,  confidential data or other
information  proprietary to the Company, or intentionally takes any other action
which  results  in material harm to the Company, as determined by the Committee,
in  its  sole and absolute discretion, the Employee shall forfeit all rights and
benefits  under  this  Plan.

     4.10      Term  of  Plan.  No  Stock  Option shall be exercisable, or Award
               --------------
granted,  unless  and until the Directors of the Company have approved this Plan
and  all  other  legal requirements have been met.  This Plan was adopted by the
Board  effective July 21, 2004.  No Stock Options or Awards may be granted under
this  Plan  after  July  21,  2014.

     4.11      Governing  Law.  This Plan and all actions taken thereunder shall
               --------------
be  governed  by,  and  construed  in  accordance with, the laws of the State of
Nevada.

     4.12      Approval.  This  Plan  must  be  approved  by  a  majority of the
               --------
outstanding  securities  entitled  to vote within 12 months before or after this
Plan  is  adopted  or  the  date  the agreement is entered into.  Any securities
purchased  before  security  holder  approval  is  obtained must be rescinded if
security  holder  approval is not obtained within 12 months before or after this
Plan  is  adopted  or  the  date the agreement is entered into.  Such securities
shall not be counted in determining whether such approval is obtained.

     4.13      Assumption  Agreements.  The Company will require each successor,
               ----------------------
(direct  or  indirect, whether by purchase, merger, consolidation or otherwise),
to  all  or substantially all of the business or assets of the Company, prior to
the  consummation  of  each such transaction, to assume and agree to perform the
terms  and  provisions  remaining  to  be  performed  by  the Company under each
Incentive  Agreement  and  Stock  Option  and  to  preserve  the benefits to the
Employees  thereunder.  Such  assumption  and  agreement shall be set forth in a
written  agreement  in  form  and  substance  satisfactory  to the Committee (an
"Assumption  Agreement"),  and  shall  include  such adjustments, if any, in the
application  of the provisions of the Incentive Agreements and Stock Options and
such  additional provisions, if any, as the Committee shall require and approve,
in  order  to  preserve  such  benefits  to  the

                                        8
<PAGE>
Employees.  Without  limiting the generality of the foregoing, the Committee may
require  an  Assumption  Agreement  to  include  satisfactory  undertakings by a
successor:

                    (a)  To provide liquidity to the Employees at the end of the
Restriction  Period  applicable  to  the Common Stock awarded to them under this
Plan,  or  on  the  exercise  of  Stock  Options;

                    (b)  If  the  succession occurs before the expiration of any
period  specified  in  the  Incentive Agreements for satisfaction of performance
criteria  applicable  to  the  Common  Stock awarded thereunder, to refrain from
interfering  with  the Company's ability to satisfy such performance criteria or
to  agree  to  modify  such  performance criteria and/or waive any criteria that
cannot  be  satisfied  as  a  result  of  the  succession;

                    (c)  To  require  any  future  successor  to  enter  into an
Assumption  Agreement;  and

                    (d)  To  take  or  refrain from taking such other actions as
the Committee may require and approve, in its discretion.

     4.14      Compliance  with  Rule  16b-3.  Transactions  under this Plan are
               -----------------------------
intended  to  comply  with  all  applicable conditions of Rule 16b-3 promulgated
under the Exchange Act.  To the extent that any provision of this Plan or action
by  the  Committee  fails to so comply, it shall be deemed null and void, to the
extent permitted by law and deemed advisable by the Committee.

     4.15      Information  to  Shareholders.  The Company shall furnish to each
               -----------------------------
of its stockholders financial statements of the Company at least annually.

     IN  WITNESS  WHEREOF,  this Plan has been executed effective as of July 21,
2004.

                                      CYBERTEL COMMUNICATIONS CORP.

                                      By  /s/  Richard D. Mangiarelli
                                        ----------------------------------------
                                        Richard D. Mangiarelli, Chairman and CEO

                                        9
<PAGE>Exhibit 10.37

Date:  September 1, 2002                                           No.: **001**]

                  SCHIMATIC Cash Transactions Network.com, Inc.

                       SECURED CONVERTIBLE PROMISSORY NOTE

       These securities have not been registered under the Securities Act
            of 1933, as amended (the "Securities Act"), or under the
                 securities laws of any state. These securities
  are "restricted securities" within the meaning of Rule 144 promulgated under
     the Securities Act. These securities have been acquired for investment
       and may not be sold or transferred without complying with Rule 144
           in the absence of an effective registration or an available
              exemption from registration under the Securities Act
                         and applicable state statutes.

         SCHIMATIC Cash Transactions Network.com, Inc., a corporation duly
organized and existing under the laws of the state of Florida (hereinafter
referred to as the "Company"), for value received, hereby promises to pay to the
registered holder hereof or permitted assigns, the principal amount of three
hundred ten thousand, four hundred sixty two dollars and thirty three cents
($310,462.33), on the date or dates set forth below, upon presentation and
surrender of this Secured Convertible Promissory Note (this "Note"), at the
offices of the Company at 740 East 3900 South, Salt Lake City, UT 84107, in such
lawful money of the United States of America as at the time of payment shall be
legal tender for the payment of public and private debts, and to pay in like
lawful tender interest hereon, from and after the date first above written, at
the interest rate set forth below, until the principal hereof is paid or made
available for payment as herein provided. The interest so payable will, as
provided below, be paid to the person in whose name this Note is registered on
the books of the Company at the close of business on the regular record date for
the payment of such interest.

         This Note is subject to the following further terms and material
provisions:

         1. Series. This Note is one of the duly authorized issue of notes of
the Company designated as its "Secured Convertible Promissory Notes" limited in
aggregate principal amount to Four Million Five Hundred Thousand Dollars
($4,500,000) (the "Series") and issuable between September 1, 2002, and December
31, 2002, issued in various denominations of like tenor and maturity, except
variations necessary to express the amount and payee of each Note. All Notes of
this Series rank equally and ratably without priority over one another.

         2. Term and Interest. The principal of and all accrued interest on the
Note, if not previously converted to common stock as provided in paragraph 3
hereof or prepaid as provided in paragraph 4 hereof, shall be due and payable on
or before September 1, 2004. The Note shall bear simple interest at a rate of
12% per year, payable annually in cash. The payment of principal of and interest
on the Note is subject to prepayment as set forth in paragraph 4 hereof.
Principal and interest shall be paid at the office of the Company maintained for
such purpose pursuant hereto.

<PAGE>

         3. Conversion.

                  (a) Subject to and in compliance with the provisions contained
         herein, the holder of this Note is entitled, at such holder's option,
         at any time prior to maturity, or in the case this Note or some portion
         hereof shall have been called for prepayment or mandatory conversion at
         the option of the Company, provided that the Company shall have
         received an aggregate of at least $4.5 million in equity capital, after
         deducting offering costs, excluding an increase in equity resulting
         from conversion of Notes or other notes or obligations outstanding as
         of June 30, 2002, then in respect of this Note or such portion hereof,
         until and including, but not after, the close of business within 30
         days after the date of notice of prepayment, to convert this Note (or
         any portion of the principal amount hereof or accrued and unpaid
         interest) into fully paid and nonassessable shares (calculated as to
         each conversion to the nearest whole share) of common stock, par value
         $0.001 per share, of the Company (the "Shares"), at a price per Share
         of $0.05, by surrender of this Note, duly endorsed (if so required by
         the Company) or assigned to the Company or in blank, to the Company at
         its offices, accompanied by written notice to the Company, in the form
         set forth below, that the holder hereof elects to convert this Note. No
         fractions of Shares will be issued on conversion, but instead of any
         fractional interest, the Company will pay cash adjustments as provided
         herein.

                  (b) Notwithstanding anything to the contrary set forth herein,
         this Note shall be converted automatically into Shares upon the
         occurrence of the receipt by the Company of $4.5 million in equity
         capital, after deducting offering costs, excluding an increase in
         equity resulting from conversion of Notes or other notes or obligations
         outstanding as of June 30, 2002

         4. Prepayment. This Note is subject to prepayment, in whole or in part,
at any time upon not less than 30 days' notice delivered by an international
courier service or registered mail, at the election of the Company, subject to
the holder's prior right of conversion as provided in paragraph 3. Prepayment
shall be effected by paying the amount equal to the outstanding principal amount
of the Note plus all interest accrued but unpaid to the date of prepayment.
During the 30 days following the date of any notice of prepayment, the holder
will have the right to convert the outstanding principal amount of the Note or
any portion thereof, plus accrued but unpaid interest, into common stock of the
Company on the terms and conditions provided for in paragraph 3 above. On the
date fixed for prepayment, the Note shall cease to bear interest with respect to
the amount of principal actually paid. Upon surrender of any Note for prepayment
in accordance with said notice of prepayment by the Company, the amount of
principal and interest due shall be paid in cash or certified funds. Any Note
that is prepaid only in part shall be presented for notation thereon by the
Company of such partial prepayment. If less than all of the Notes of this Series
are to be prepaid, notice of the proposed prepayment shall be sent to the
registered holders of all Notes issued in this Series, and such prepayment shall
be made pro rata.

         5. Limitations on Right of Conversion. Following receipt of the written
notice of intention to convert this Note, the Company shall take such steps as
it deems appropriate to permit conversion of the Note as specified in the notice
without registration or qualification under applicable federal and state
securities laws; provided, that in no event shall the Company be required to
consent to the general service of process or qualify as a foreign corporation in
any jurisdiction where the Note holder resides if such jurisdiction is different
than such Note holder's residence when the Note was originally offered and sold.
Upon providing the written notice of intention described in this paragraph, the
holder of this note shall be deemed to make the additional representation that

                                       2
<PAGE>

there shall have been no change in circumstances that would cause such holder
not to be an "accredited investor" as that term is defined in Rule 501 of
Regulation D promulgated under the Securities Act of 1933. If there has been a
change in circumstances that would cause the holder not to be an accredited
investor at the time of the notice, the holder will so specifically advise the
Company in the written notice. In order to comply with exemptions from the
registration requirements of the Securities Act and certain state securities
statutes, the Company may request the holder of this Note to make certain
representations and execute and deliver to the Company certain documents as a
condition to exercise of the conversion rights hereunder, all in form and
substance satisfactory to the Company and the holder.

         6. Satisfaction and Discharge of Note. This Note shall cease to be of
further effect (except as to any surviving rights of conversion, transfer or
exchange of Notes herein expressly provided for) when:

                  (a) the Company has paid or caused to be paid all sums payable
         hereunder by the Company, including all principal amounts and interest
         accrued under this Note; and

                  (b) all the conditions precedent herein provided for relating
         to the satisfaction and discharge of this Note have been complied with.

         7. Events of Default. "Event of default" when used herein, whatever the
reason for such event of default and whether it shall be voluntary or
involuntary, effected by operation of law pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or
governmental body, or caused by the provisions of any paragraph herein, means
any one of the following events:

                  (a) default in the payment of any interest on this Note when
         it becomes due and payable, and continuance of such default for a
         period of 30 days after notice thereof to the Company;

                  (b) default in the payment of the principal of any Note in
         this Series when due, whether at maturity, upon repayment, or
         otherwise, and continuance of such default for a period of 30 days
         after notice thereof in writing to the Company;

                  (c) default in the performance or breach of any covenant or
         warranty of the Company in the outstanding Notes in this Series (other
         than a covenant or warranty, the breach or default in performance of
         which is elsewhere in this section specifically dealt with), and
         continuation of such default or breach for period of 60 days after
         there has been given to the Company by registered or certified mail, by
         the holders of a majority in principal amount of the outstanding Notes
         in this Series, a written notice specifying such default or breach and
         requiring it to be remedied and stating that such notice is a notice of
         default hereunder;

                  (d) the entry of a decree or order by a court having
         jurisdiction in the premises adjudging the Company a bankrupt or
         insolvent or composition thereof under the Federal Bankruptcy Act or
         any other applicable federal or state law, or appointing a receiver,
         liquidator, assignee, trustee, sequestrator (or other similar official)
         of the Company or of any substantial part of its property, or ordering
         the winding up or liquidation of its affairs, and the continuance of
         any such decree or order unstayed and in effect for a period of 60
         consecutive days; or

                                       3
<PAGE>

                  (e) the institution by the Company of proceedings to be
         adjudicated a bankrupt or insolvent, or the consent by it to the
         institution of bankruptcy or insolvency proceedings against it, or a
         filing by it of a petition or answer or consent seeking reorganization
         or relief under the Federal Bankruptcy Act or any other applicable
         federal or state law; or the consent by it to the filing of any such
         petition or the appointment of a receiver, liquidator, assignee,
         trustee, sequestrator (or other similar official) of the Company or of
         any substantial part of its property), or the making by it of an
         assignment for the benefit of creditors, or the admission by it in
         writing of its inability to pay its debts generally as they become due,
         or the taking of corporate action by the Company in furtherance of any
         such action.

If any one or more of the events of default specified above shall have happened,
the rights of the holder of this Note shall be limited to converting the
principal of and accrued but unpaid interest on the Note to Shares or to
executing and foreclosing on the collateral described in the Security Agreement,
and in the event that any sale of the collateral shall be insufficient to
satisfy the obligation evidenced by this Note, the holder of this Note shall not
seek and shall not be entitled to obtain a deficiency or personal judgment
against the Company.

         8. Acceleration of Maturity. If an event of default occurs and is
continuing, then, in every such case, the holders of a majority in principal
amount of the then outstanding Notes in this Series may declare the principal of
all the Notes to be due and payable immediately, by a notice in writing to the
Company of such default, and upon any such declaration, such principal shall
become immediately due and payable. At any time after such declaration of
acceleration has been made, and before a judgment or decree for payment of money
due has been obtained by the holders, the holders of a majority in principal
amount of the outstanding Notes in this Series, by written notice to the
Company, may rescind and annul such declaration and its consequences if all
events of default, other than the nonpayment of the principal of Notes that has
become due solely by such acceleration, have been cured or waived. No such
rescission shall affect any subsequent default or impair any consequent right
thereon.

         9. Security for the Notes. The obligation evidenced by the Notes is
secured by that certain Intellectual Property Security Agreement dated effective
__________________, 2002, in which the Company grants a security interest in the
Company's intellectual property, as defined therein, to the holders of the Notes
in this Series, subject to the license of Smart Chip Technologies, LLC, a
wholly-owned subsidiary of the Company.

         10. Suits for Enforcement. If an event of default occurs and is
continuing, the holders of a majority in principal amount of the outstanding
Notes in this Series may, in their discretion, proceed to protect and enforce
their rights by such appropriate judicial proceedings as the holders shall deem
most effectual to protect and enforce any such rights, whether for the specified
enforcement of any covenant or agreement under this Note or in aid of the
exercise of any power granted herein, or to enforce any other property remedy.

         11. Limitation on Suits. No holder of any Note shall have any right to
institute any proceedings, judicial or otherwise, with respect to this Note, or
for the appointment of a receiver or trustee, or for any remedy hereunder,
unless such holder has previously given written notice to the Company of a
continuing event of default as provided above; it being understood and intended
that no one or more holders of Notes shall have any right in any manner whatever
by virtue of or by availing of any provisions of this Note to effect, disturb or
prejudice the right of any other holders of Notes, or to obtain or to seek to
obtain priority or preference over any other holders, or to enforce any right
under this Note, except in the manner herein provided and for the equal and
ratable benefit of all the holders of the Notes.

                                       4
<PAGE>

         12. Acts of Holders. Any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Note to be given or
taken by the holder hereof or by the holders of the Notes in this Series may be
embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such holders in person, or by their agent or attorney-in-fact
duly appointed in writing; and, except as otherwise expressly provided herein,
such action shall become effective when such instrument or instruments are
delivered to the Company in the manner provided for giving notices herein. Such
instrument or instruments, and the action embodied therein or evidenced thereby,
are herein sometimes referred to as the "act" of the holders signing such
instrument or instruments. Proof of execution of any such instrument or of a
writing appointing any such agent shall be sufficient for any purpose of this
Note if the fact and date of execution by any person of any such instrument or
writing are verified by the affidavit of a witness of such execution. The
request, demand, authorization, direction, notice, consent, waiver or other
action by the holder of any Note shall bind every Note holder of the same Note
and the holder of every Note issued upon the transfer thereof or in exchange
therefor or in lieu thereof in respect of anything done or suffered to be done
by any person in reliance thereon, whether or not notation of such action is
made upon such Note.

         13. Notices to Holders; Waiver. Where this Note provides for notice to
holders of any event, such notice shall be sufficiently given if in writing and
mailed, registered, postage prepaid, to each holder affected by such event, at
his or her address as it appears in the Note register maintained by the Company,
not later than the latest date and not earlier than the earliest date,
prescribed for the giving of such notice. The Company shall provide a copy of
the Note register upon the written request of any holder of Notes in this
Series. In any case, where notice to holders is given by mail, neither the
failure to mail such notice nor any defect in any notice so mailed to any
particular holder shall affect the sufficiency of such notice with respect to
holders of other Notes issued in this Series. Where the Note provides for notice
to the Company, such notice shall be sufficiently given if in writing and
mailed, registered and postage prepaid, to the Company at its address set forth
above (or at such other address as shall be provided to the holders of the Notes
of this Series in the manner for giving notices set forth herein), not later
than the latest date and not earlier than the earliest date, prescribed for the
giving of such notice. Where this Note provides for notice in any manner, such
notice may be waived in writing by the person entitled to receive such notice,
whether before or after the event, any such waiver shall be equivalent of such
notice.

         14. Adjustment in Conversion. The conversion price and number of Shares
issuable upon conversion of this Note may be subject to adjustment from time to
time as follows:

                  (a) If the Company shall take a record of the holders of its
         Shares for the purpose of entitling them to receive a dividend in
         Shares, the conversion price in effect immediately prior to such record
         date shall be proportionately decreased, such adjustment to become
         effective immediately after the opening of business on the day
         following such record date.

                  (b) If the Company shall subdivide the outstanding Shares into
         a greater number of Shares or combine the outstanding Shares into a
         smaller number of Shares, or issue by reclassification any of its
         Shares, the conversion price in effect immediately prior thereto shall
         be adjusted so that the holder of the Note thereafter surrendered for
         conversion shall be entitled to receive, after the occurrence of any of
         the events described, the number of Shares to which the holder would
         have been entitled had such Note been converted immediately after the
         opening of business on the day following the date upon which such
         subdivision or combination or reclassification, as the case may be,
         becomes effective.

                                       5
<PAGE>

                  (c) No fraction of a Share shall be issued upon conversion,
         but in lieu thereof the Company, notwithstanding any other provision
         hereof, may pay therefor in cash at the fair value of the fractional
         Shares at the time of conversion.

                  (d) Neither the purchase or other acquisition by the Company
         of any Shares nor the sale or other disposition by the Company of any
         Shares shall affect any adjustment of the conversion price or be taken
         into account in computing any subsequent adjustment of the conversion
         price.

                  (e) If at any time:

                           (i)      the Company proposes to pay any dividend
                                    payable in Shares upon its Shares or make
                                    any distribution, including a cash or
                                    property dividend, out of earnings or earned
                                    surplus, to the holders of its Shares; or

                           (ii)     the Company proposes to enter into any plan
                                    of capital reorganization or of
                                    reclassification of the Shares of the
                                    Company; or

                           (iii)    the Company proposes to merge, consolidate
                                    or encumber or sell all or substantially all
                                    of its assets other than in the ordinary
                                    course of business,

then, in any one or more of said cases, the Company shall cause a notice to be
mailed to the registered holder of this Note at the address of such holder set
forth in the registration records of the Company. Such notice shall be solely
for the convenience of such registered holder and shall not be a condition
precedent to, nor shall any defect therein or failure in connection therewith
affect the validity of, the action proposed to be taken by the Company. Such
notice shall be mailed at least 10 days prior to the date on which the books of
the Company shall close or a record date shall be taken for such Share dividend,
Share split or reclassification, consolidation, merger or sale of properties and
assets, as the case may be. Such notice shall specify such record date for the
closing of the transfer books.

         15. Restrictions. The holder of this Note, by acceptance hereof, both
with respect to the Note and the Shares to be issuable upon conversion of the
Note (unless issued pursuant to an effective registration statement under the
Securities Act), represents and warrants as follows:

                  (a) The subject securities are being acquired for the holder's
         own account to be held for investment purposes only and not with a view
         to or for resale in connection with any distribution of such securities
         or any interest therein without registration or other compliance under
         the Securities Act, and the holder hereof has no direct or indirect
         participation in any such undertaking or in underwriting such an
         undertaking.

                                       6
<PAGE>

                  (b) The holder hereof has been advised and understands that:
         (i) the subject securities have not been and will not be registered
         under the Securities Act and the subject securities must be held and
         may not be sold, transferred or otherwise disposed of for value unless
         they are subsequently registered under the Securities Act or an
         exemption from such registration is available; (ii) except as set forth
         herein, the Company is under no obligation to register the subject
         securities under the Securities Act; (iii) in the absence of such
         registration, sale of the subject securities may be impracticable; (iv)
         the Company's registrar and transfer agent will maintain stop transfer
         orders against registration of transfer of the subject securities; and
         (v) the certificates to be issued for any securities will bear on their
         face a legend in substantially the following form:

                  The securities represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended (the
                  "Securities Act), or under the securities laws of any state.
                  These securities are "restricted securities" within the
                  meaning of Rule 144 promulgated under the Securities Act. The
                  securities have been acquired for investment and may not be
                  sold or transferred without complying with Rule 144 in the
                  absence of an effective registration or an available exemption
                  from registration under the Securities Act and applicable
                  state statutes.

                  (c) The Company may refuse to transfer the subject securities
         unless the holder thereof provides an opinion of legal counsel
         reasonably satisfactory to the Company or a "no-action" or interpretive
         response from the Securities and Exchange Commission to the effect that
         the transfer is proper. Further, unless such letter or opinion states
         that the subject securities are free from any restrictions under the
         Securities Act, the Company may refuse to transfer the subject
         securities to any transferee who does not furnish in writing to the
         Company the same representations and agree to the same conditions with
         respect to such subject securities as set forth herein. The Company may
         also refuse to transfer the subject securities if any circumstances are
         present reasonably indicating that the transferee's representations are
         not accurate.

                  (d) This Note is nonnegotiable.

         16. Registered Holder. The Company may treat the person or persons
whose name or names appear hereon as the absolute owner or owners of this Note
for the purpose of receiving payment of, or on account of, the principal and
interest due on this Note and for all other purposes, and the Company shall not
be affected by any notice to the contrary.

         17. Severability. In case any provision in this Note shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.

         18. Governing Law. This Note shall be governed by and construed and
interpreted in accordance with the laws of the state of Utah, excluding
principles of choice or conflicts of law.

         19. Legal Holidays. In any case where any date provided herein shall
not be a business day, then (notwithstanding any other provision of this Note),
the event required or permitted on such date shall be required or permitted, as
the case may be, on the next succeeding business day with the same force and
effect as if made on the date upon which such event was required or permitted
pursuant hereto.

         20. Delay or Omission; No Waiver. No delay or omission of any holder of
the Note to exercise any right or remedy accruing upon any event of default
shall impair any such right or remedy or constitute a waiver of any such event
or default or acquiescence therein. Every right or remedy given hereby or by law
may be exercised from time to time and as often as may be deemed expedient.

                                       7
<PAGE>

         21. Miscellaneous. This Note is subject to the following additional
terms and conditions:

                  (a) If this Note is placed with an attorney for collection, or
         if suit be instituted for collection, or if any other remedy provided
         by law is pursued by the registered holder hereof, because of any
         default in the terms and conditions herein, then in either event, the
         undersigned agrees to pay reasonable attorneys' fees, costs and other
         expenses incurred by the registered holder hereof in so doing.

                  (b) None of the rights and remedies of the registered holder
         hereof shall be waived or affected by failure or delay to exercise
         them. All remedies conferred on the registered holder of this Note
         shall be cumulative and none is exclusive. Such remedies may be
         exercised concurrently or consecutively at the registered holder's
         option.

                  (c) This Note is transferable only in compliance with the
         provisions of paragraph 12 hereof.

                  (d) Maker and each surety, endorser, guarantor and other party
         liable for the payment of any sums of money payable on this Note,
         jointly and severally waive presentment and demand for payment, protest
         and notice of protest and nonpayment, or other notice of default,
         except as specified herein, and agree that their liability on this Note
         shall not be affected by any renewal or extension in the time of
         payment hereof, indulgences, partial payment, release or change in any
         security for the payment of this Note, before or after maturity,
         regardless of the number of such renewals, extensions, indulgences,
         releases or changes.

         DATED effective as of the September 1, 2002

                                   SCHIMATIC Cash Transactions Network.com, INC.

Attest

By ___________________________     By _________________________________________
                   , Secretary        Bernard McHale, C.E.O. and Treasurer

                                       8
<PAGE>

                                                     Date ______________________

SCHIMATIC Cash Transactions Network.com, Inc.
740 East 3900 South
Salt Lake City, UT 84107

         Re: Conversion of Note

To Whom It May Concern:

The undersigned owner of this Note hereby irrevocably exercises the option to
convert this Note into shares of common stock, par value $0.001 per share, of
SCHIMATIC Cash Transactions Network.com, Inc., in accordance with the terms of
this Note, and directs that the Shares issuable and deliverable upon the
conversion, together with any check in payment for fractional Shares, be issued
in the name of and delivered to the undersigned unless a different name has been
indicated below. If Shares are to be issued in the name of a person other than
the undersigned, the undersigned will pay any transfer taxes payable with
respect thereto.

                                                 _______________________________
                                                 (Signature)
FILL IN FOR REGISTRATION OF SHARES:

__________________________________              ________________________________
(Printed Name)                                  (Social Security or Other
                                                Identifying Number)

__________________________________              ________________________________
(Street Address)

__________________________________              ________________________________
(City, State, and ZIP Code)                     Number of Shares To Be Converted

                                       9

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