Document:

EXHIBIT 4.39

                              SECURITY AGREEMENT

      SECURITY AGREEMENT (this "Agreement"),  dated as of April 30, 2004, by and
among Central Wireless,  Inc., a Utah corporation  ("Company"),  and the secured
parties signatory hereto and their respective endorsees, transferees and assigns
(collectively, the "Secured Party").

                              W I T N E S S E T H:

      WHEREAS,  pursuant  to a  Securities  Purchase  Agreement,  dated the date
hereof,  between  Company  and the  Secured  Party (the  "Purchase  Agreement"),
Company  has  agreed to issue to the  Secured  Party and the  Secured  Party has
agreed to purchase  from  Company  certain of  Company's  12%  Callable  Secured
Convertible Debentures, due two years from the date of issue (the "Debentures"),
which are convertible into shares of Company's Common Stock, par value $.001 per
share (the "Common  Stock").  In connection  therewith,  Company shall issue the
Secured Party certain Common Stock purchase warrants dated as of the date hereof
to purchase  the number of shares of Common Stock  indicated  below each Secured
Party's name on the Purchase Agreement (the "Warrants"); and

      WHEREAS,  in order to induce the Secured Party to purchase the Debentures,
Company has agreed to execute and  deliver to the Secured  Party this  Agreement
for the  benefit  of the  Secured  Party  and to  grant  to it a first  priority
security  interest in certain  property of Company to secure the prompt payment,
performance  and  discharge  in full of all of Company's  obligations  under the
Debentures and exercise and discharge in full of Company's obligations under the
Warrants.

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

      1. Certain  Definitions.  As used in this  Agreement,  the following terms
shall  have  the  meanings  set  forth in this  Section  1.  Terms  used but not
otherwise  defined in this  Agreement  that are  defined in Article 9 of the UCC
(such as  "general  intangibles"  and  "proceeds")  shall  have  the  respective
meanings given such terms in Article 9 of the UCC.

            (a) "Collateral"  means the collateral in which the Secured Party is
granted a security  interest  by this  Agreement  and which  shall  include  the
following,  whether presently owned or existing or hereafter  acquired or coming
into existence,  and all additions and accessions  thereto and all substitutions
and  replacements  thereof,  and all  proceeds,  products and accounts  thereof,
including,  without  limitation,  all proceeds  from the sale or transfer of the
Collateral  and of  insurance  covering  the  same  and of any  tort  claims  in
connection therewith:

                  (i) All Goods of the Company, including,  without limitations,
            all machinery,  equipment, computers, motor vehicles, trucks, tanks,
            boats,  ships,  appliances,  furniture,  special and general  tools,
            fixtures,  test and quality  control  devices and other equipment of
            every kind and  nature  and  wherever  situated,  together  with all
            documents  of  title  and  documents   representing  the  same,  all
            additions and accessions thereto,  replacements  therefor, all parts
            therefor, and all substitutes for any of the foregoing and all other

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            items used and useful in connection  with the  Company's  businesses
            and all improvements thereto (collectively, the "Equipment"); and

                  (ii) All Inventory of the Company; and

                  (iii)  All  of  the  Company's  contract  rights  and  general
            intangibles,   including,   without   limitation,   all  partnership
            interests,  stock or other  securities,  licenses,  distribution and
            other agreements,  computer  software  development  rights,  leases,
            franchises,  customer lists, quality control procedures,  grants and
            rights,  goodwill,  trademarks,  service marks, trade styles,  trade
            names, patents, patent applications,  copyrights,  deposit accounts,
            and income tax refunds  (collectively,  the "General  Intangibles");
            and

                  (iv) All  Receivables  of the Company  including all insurance
            proceeds, and rights to refunds or indemnification whatsoever owing,
            together with all instruments,  all documents of title  representing
            any of the  foregoing,  all  rights  in  any  merchandising,  goods,
            equipment,  motor  vehicles  and  trucks  which  any of the same may
            represent,  and all  right,  title,  security  and  guaranties  with
            respect  to each  Receivable,  including  any right of  stoppage  in
            transit; and

                  (v) All of the Company's  documents,  instruments  and chattel
            paper, files, records, books of account,  business papers,  computer
            programs  and the  products  and  proceeds  of all of the  foregoing
            Collateral set forth in clauses (i)-(iv) above.

            (b)  "Company"  shall  mean,  collectively,  Company  and all of the
subsidiaries  of Company,  a list of which is contained in Schedule A,  attached
hereto.

            (c) "Obligations" means all of the Company's  obligations under this
Agreement and the Debentures,  in each case, whether now or hereafter  existing,
voluntary or involuntary, direct or indirect, absolute or contingent, liquidated
or  unliquidated,  whether or not jointly owed with  others,  and whether or not
from time to time  decreased or  extinguished  and later  decreased,  created or
incurred,  and all or any portion of such  obligations or  liabilities  that are
paid,  to the  extent all or any part of such  payment  is avoided or  recovered
directly  or  indirectly  from the  Secured  Party as a  preference,  fraudulent
transfer  or  otherwise  as  such  obligations  may  be  amended,  supplemented,
converted, extended or modified from time to time.

            (d) "UCC" means the Uniform  Commercial Code, as currently in effect
in the State of New York.

      2. Grant of Security  Interest.  As an inducement for the Secured Party to
purchase  the  Debentures  and  to  secure  the  complete  and  timely  payment,
performance  and  discharge  in  full,  as  the  case  may  be,  of  all  of the
Obligations,  the Company  hereby,  unconditionally  and  irrevocably,  pledges,
grants and hypothecates to the Secured Party, a continuing security interest in,
a continuing first lien upon, an unqualified right to possession and disposition
of and a right of set-off against,  in each case to the fullest extent permitted
by law, all of the Company's  right,  title and interest of whatsoever  kind and
nature in and to the Collateral (the "Security Interest").

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      3. Representations,  Warranties,  Covenants and Agreements of the Company.
The Company  represents  and warrants  to, and  covenants  and agrees with,  the
Secured Party as follows:

            (a) The Company has the requisite  corporate  power and authority to
enter into this Agreement and otherwise to carry out its obligations thereunder.
The execution, delivery and performance by the Company of this Agreement and the
filings  contemplated  therein have been duly authorized by all necessary action
on the part of the  Company and no further  action is  required by the  Company.
This Agreement  constitutes a legal, valid and binding obligation of the Company
enforceable  in  accordance  with its  terms,  except as  enforceability  may be
limited by bankruptcy,  insolvency,  reorganization,  moratorium or similar laws
affecting the enforcement of creditor's rights generally.

            (b) The  Company  represents  and  warrants  that it has no place of
business or offices where its  respective  books of account and records are kept
(other than  temporarily  at the offices of its  attorneys  or  accountants)  or
places where Collateral is stored or located,  except as set forth on Schedule A
attached hereto;

            (c) The  Company is the sole  owner of the  Collateral  (except  for
non-exclusive  licenses  granted  by the  Company  in  the  ordinary  course  of
business), free and clear of any liens, security interests, encumbrances, rights
or claims,  and is fully  authorized  to grant the  Security  Interest in and to
pledge the  Collateral.  There is not on file in any  governmental or regulatory
authority, agency or recording office an effective financing statement, security
agreement, license or transfer or any notice of any of the foregoing (other than
those  that have  been  filed in favor of the  Secured  Party  pursuant  to this
Agreement)  covering  or  affecting  any of the  Collateral.  So  long  as  this
Agreement  shall be in  effect,  the  Company  shall not  execute  and shall not
knowingly  permit to be on file in any such office or agency any such  financing
statement  or other  document  or  instrument  (except  to the  extent  filed or
recorded in favor of the Secured Party pursuant to the terms of this Agreement).

            (d)  No  part  of  the   Collateral   has  been  judged  invalid  or
unenforceable.  No written claim has been  received  that any  Collateral or the
Company's use of any  Collateral  violates the rights of any third party.  There
has been no adverse  decision to the Company's  claim of ownership  rights in or
exclusive  rights to use the Collateral in any  jurisdiction or to the Company's
right to keep and maintain such  Collateral in full force and effect,  and there
is no proceeding  involving said rights pending or, to the best knowledge of the
Company,   threatened  before  any  court,  judicial  body,   administrative  or
regulatory agency, arbitrator or other governmental authority.

            (e) The Company shall at all times maintain its books of account and
records  relating to the  Collateral at its principal  place of business and its
Collateral at the locations set forth on Schedule A attached  hereto and may not
relocate  such books of account  and records or  tangible  Collateral  unless it
delivers  to the  Secured  Party at least 30 days prior to such  relocation  (i)
written notice of such  relocation  and the new location  thereof (which must be
within  the  United  States)  and  (ii)  evidence  that  appropriate   financing
statements and other necessary  documents have been filed and recorded and other
steps have been taken to perfect the Security Interest to create in favor of the
Secured  Party valid,  perfected  and  continuing  first  priority  liens in the
Collateral.

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            (f) This  Agreement  creates in favor of the  Secured  Party a valid
security interest in the Collateral  securing the payment and performance of the
Obligations and, upon making the filings described in the immediately  following
sentence,  a perfected  first  priority  security  interest in such  Collateral.
Except for the filing of financing  statements  on Form-1 under the UCC with the
jurisdictions  indicated on Schedule B, attached  hereto,  no  authorization  or
approval of or filing with or notice to any governmental authority or regulatory
body  is  required  either  (i)  for  the  grant  by  the  Company  of,  or  the
effectiveness  of, the Security  Interest  granted  hereby or for the execution,
delivery  and  performance  of this  Agreement  by the  Company  or (ii) for the
perfection  of or  exercise  by the  Secured  Party of its rights  and  remedies
hereunder.

            (g) On the date of  execution  of this  Agreement,  the Company will
deliver to the Secured Party one or more  executed UCC  financing  statements on
Form-1 with respect to the Security  Interest for filing with the  jurisdictions
indicated on Schedule B, attached hereto and in such other  jurisdictions as may
be requested by the Secured Party.

            (h) The execution,  delivery and  performance of this Agreement does
not conflict with or cause a breach or default, or an event that with or without
the passage of time or notice,  shall constitute a breach or default,  under any
agreement  to which the Company is a party or by which the Company is bound.  No
consent (including,  without limitation,  from stock holders or creditors of the
Company) is required  for the Company to enter into and perform its  obligations
hereunder.

            (i) The Company  shall at all times  maintain the liens and Security
Interest  provided for hereunder as valid and perfected first priority liens and
security  interests in the  Collateral  in favor of the Secured Party until this
Agreement  and the  Security  Interest  hereunder  shall  terminate  pursuant to
Section 11. The  Company  hereby  agrees to defend the same  against any and all
persons.  The Company shall safeguard and protect all Collateral for the account
of the Secured Party. At the request of the Secured Party, the Company will sign
and  deliver to the  Secured  Party at any time or from time to time one or more
financing  statements  pursuant to the UCC (or any other applicable  statute) in
form  reasonably  satisfactory  to the  Secured  Party  and will pay the cost of
filing the same in all public  offices  wherever  filing is, or is deemed by the
Secured Party to be, necessary or desirable to effect the rights and obligations
provided for herein.  Without  limiting the  generality  of the  foregoing,  the
Company shall pay all fees,  taxes and other  amounts  necessary to maintain the
Collateral and the Security Interest hereunder, and the Company shall obtain and
furnish to the  Secured  Party from time to time,  upon  demand,  such  releases
and/or  subordinations of claims and liens which may be required to maintain the
priority of the Security Interest hereunder.

            (j) The Company will not transfer,  pledge,  hypothecate,  encumber,
license  (except  for  non-exclusive  licenses  granted  by the  Company  in the
ordinary course of business), sell or otherwise dispose of any of the Collateral
without the prior written consent of the Secured Party.

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<PAGE>

            (k) The Company shall keep and preserve its Equipment, Inventory and
other  tangible  Collateral  in good  condition,  repair and order and shall not
operate or locate any such  Collateral  (or cause to be  operated or located) in
any area excluded from insurance coverage.

            (l) The Company shall,  within ten (10) days of obtaining  knowledge
thereof,  advise the  Secured  Party  promptly,  in  sufficient  detail,  of any
substantial  change in the Collateral,  and of the occurrence of any event which
would have a material  adverse  effect on the value of the  Collateral or on the
Secured Party's security interest therein.

            (m) The Company  shall  promptly  execute and deliver to the Secured
Party such further deeds, mortgages, assignments, security agreements, financing
statements or other instruments, documents, certificates and assurances and take
such further  action as the Secured  Party may from time to time request and may
in its sole  discretion  deem  necessary  to  perfect,  protect or  enforce  its
security interest in the Collateral including, without limitation, the execution
and delivery of a separate  security  agreement  with  respect to the  Company's
intellectual property  ("Intellectual Property Security Agreement") in which the
Secured Party has been granted a security interest hereunder, substantially in a
form  acceptable to the Secured  Party,  which  Intellectual  Property  Security
Agreement,  other than as stated  therein,  shall be subject to all of the terms
and conditions hereof.

            (n)  The   Company   shall   permit  the   Secured   Party  and  its
representatives  and agents to inspect the  Collateral at any time,  and to make
copies of  records  pertaining  to the  Collateral  as may be  requested  by the
Secured Party from time to time.

            (o)  The  Company  will  take  all  steps  reasonably  necessary  to
diligently pursue and seek to preserve,  enforce and collect any rights, claims,
causes of action and accounts receivable in respect of the Collateral.

            (p)  The  Company  shall  promptly   notify  the  Secured  Party  in
sufficient detail upon becoming aware of any attachment,  garnishment, execution
or  other  legal  process  levied  against  any  Collateral  and  of  any  other
information  received by the Company that may materially affect the value of the
Collateral,  the  Security  Interest  or the rights and  remedies of the Secured
Party hereunder.

            (q) All information heretofore,  herein or hereafter supplied to the
Secured  Party by or on behalf of the Company with respect to the  Collateral is
accurate and complete in all material respects as of the date furnished.

            (r)  Schedule  A  attached  hereto  contains  a  list  of all of the
subsidiaries of Company.

      4. Defaults. The following events shall be "Events of Default":

            (a) The  occurrence  of an  Event  of  Default  (as  defined  in the
Debentures) under the Debentures;

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<PAGE>

            (b) Any  representation or warranty of the Company in this Agreement
or in the  Intellectual  Property  Security  Agreement  shall prove to have been
incorrect in any material respect when made;

            (c) The  failure by the  Company  to  observe or perform  any of its
obligations hereunder or in the Intellectual Property Security Agreement for ten
(10) days  after  receipt  by the  Company  of notice of such  failure  from the
Secured Party; and

            (d) Any breach of, or default under, the Warrants.

      5. Duty To Hold In Trust.  Upon the occurrence of any Event of Default and
at any time  thereafter,  the Company shall,  upon receipt by it of any revenue,
income or other sums subject to the Security Interest,  whether payable pursuant
to the Debentures or otherwise,  or of any check,  draft, note, trade acceptance
or other instrument  evidencing an obligation to pay any such sum, hold the same
in trust for the Secured Party and shall forthwith endorse and transfer any such
sums or  instruments,  or both,  to the  Secured  Party for  application  to the
satisfaction of the Obligations.

      6. Rights and  Remedies  Upon  Default.  Upon  occurrence  of any Event of
Default and at any time  thereafter,  the Secured  Party shall have the right to
exercise all of the remedies conferred  hereunder and under the Debentures,  and
the  Secured  Party shall have all the rights and  remedies  of a secured  party
under the UCC and/or any other applicable law (including the Uniform  Commercial
Code of any  jurisdiction  in which any  Collateral  is then  located).  Without
limitation, the Secured Party shall have the following rights and powers:

            (a) The Secured Party shall have the right to take possession of the
Collateral  and, for that  purpose,  enter,  with the aid and  assistance of any
person,  any premises where the  Collateral,  or any part thereof,  is or may be
placed and remove the same,  and the Company shall  assemble the  Collateral and
make it available to the Secured  Party at places which the Secured  Party shall
reasonably  select,  whether at the Company's  premises or  elsewhere,  and make
available to the Secured Party,  without rent,  all of the Company's  respective
premises and facilities  for the purpose of the Secured Party taking  possession
of, removing or putting the Collateral in saleable or disposable form.

            (b) The Secured  Party shall have the right to operate the  business
of the Company using the  Collateral  and shall have the right to assign,  sell,
lease or otherwise dispose of and deliver all or any part of the Collateral,  at
public or private sale or otherwise,  either with or without special  conditions
or stipulations, for cash or on credit or for future delivery, in such parcel or
parcels  and at such time or times and at such  place or  places,  and upon such
terms and conditions as the Secured Party may deem commercially reasonable,  all
without (except as shall be required by applicable statute and cannot be waived)
advertisement  or demand upon or notice to the Company or right of redemption of
the Company,  which are hereby  expressly  waived.  Upon each such sale,  lease,
assignment  or other  transfer  of  Collateral,  the Secured  Party may,  unless
prohibited by applicable law which cannot be waived, purchase all or any part of
the Collateral being sold, free from and discharged of all trusts, claims, right
of redemption and equities of the Company, which are hereby waived and released.

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      7. Applications of Proceeds. The proceeds of any such sale, lease or other
disposition of the Collateral  hereunder shall be applied first, to the expenses
of retaking,  holding, storing,  processing and preparing for sale, selling, and
the like  (including,  without  limitation,  any  taxes,  fees and  other  costs
incurred  in  connection  therewith)  of  the  Collateral,   to  the  reasonable
attorneys'  fees and expenses  incurred by the Secured  Party in  enforcing  its
rights hereunder and in connection with collecting, storing and disposing of the
Collateral,  and then to satisfaction of the Obligations,  and to the payment of
any other  amounts  required by  applicable  law,  after which the Secured Party
shall pay to the  Company any surplus  proceeds.  If, upon the sale,  license or
other  disposition of the Collateral,  the proceeds  thereof are insufficient to
pay all amounts to which the Secured Party is legally entitled, the Company will
be liable for the deficiency, together with interest thereon, at the rate of 15%
per  annum  (the  "Default  Rate"),  and the  reasonable  fees of any  attorneys
employed  by the  Secured  Party  to  collect  such  deficiency.  To the  extent
permitted by applicable law, the Company waives all claims,  damages and demands
against the Secured Party arising out of the repossession, removal, retention or
sale of the Collateral, unless due to the gross negligence or willful misconduct
of the Secured Party.

      8. Costs and Expenses.  The Company agrees to pay all out-of-pocket  fees,
costs and expenses  incurred in connection with any filing  required  hereunder,
including without limitation, any financing statements, continuation statements,
partial releases and/or  termination  statements related thereto or any expenses
of any searches reasonably required by the Secured Party. The Company shall also
pay all other claims and charges which in the reasonable  opinion of the Secured
Party  might  prejudice,  imperil  or  otherwise  affect the  Collateral  or the
Security  Interest  therein.  The Company  will also,  upon  demand,  pay to the
Secured  Party the  amount of any and all  reasonable  expenses,  including  the
reasonable fees and expenses of its counsel and of any experts and agents, which
the  Secured  Party may incur in  connection  with (i) the  enforcement  of this
Agreement, (ii) the custody or preservation of, or the sale of, collection from,
or other  realization  upon,  any of the  Collateral,  or (iii) the  exercise or
enforcement  of any of the rights of the  Secured  Party  under the  Debentures.
Until so paid, any fees payable hereunder shall be added to the principal amount
of the Debentures and shall bear interest at the Default Rate.

      9. Responsibility for Collateral.  The Company assumes all liabilities and
responsibility  in connection  with all  Collateral,  and the obligations of the
Company  hereunder or under the  Debentures  and the Warrants shall in no way be
affected or  diminished by reason of the loss,  destruction,  damage or theft of
any of the Collateral or its unavailability for any reason.

      10. Security  Interest  Absolute.  All rights of the Secured Party and all
Obligations  of the  Company  hereunder,  shall be absolute  and  unconditional,
irrespective of: (a) any lack of validity or  enforceability  of this Agreement,
the  Debentures,  the Warrants or any agreement  entered into in connection with
the  foregoing,  or any portion  hereof or thereof;  (b) any change in the time,
manner or place of  payment or  performance  of, or in any other term of, all or
any of the  Obligations,  or any other  amendment or waiver of or any consent to
any departure from the Debentures,  the Warrants or any other agreement  entered
into  in  connection   with  the  foregoing;   (c)  any  exchange,   release  or
nonperfection of any of the Collateral, or any release or amendment or waiver of
or consent to departure from any other  collateral for, or any guaranty,  or any
other security, for all or any of the Obligations; (d) any action by the Secured
Party to obtain,  adjust, settle and cancel in its sole discretion any insurance
claims or matters made or arising in connection with the Collateral;  or (e) any
other  circumstance  which might  otherwise  constitute  any legal or  equitable

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defense  available  to the  Company,  or a  discharge  of all or any part of the
Security Interest granted hereby. Until the Obligations shall have been paid and
performed in full,  the rights of the Secured  Party shall  continue even if the
Obligations  are barred  for any  reason,  including,  without  limitation,  the
running of the statute of  limitations  or  bankruptcy.  The  Company  expressly
waives presentment, protest, notice of protest, demand, notice of nonpayment and
demand  for  performance.  In the  event  that at any time any  transfer  of any
Collateral  or any  payment  received by the Secured  Party  hereunder  shall be
deemed  by final  order  of a court of  competent  jurisdiction  to have  been a
voidable preference or fraudulent  conveyance under the bankruptcy or insolvency
laws of the United  States,  or shall be deemed to be otherwise due to any party
other than the Secured Party, then, in any such event, the Company's obligations
hereunder  shall  survive  cancellation  of this  Agreement,  and  shall  not be
discharged or satisfied by any prior payment thereof and/or cancellation of this
Agreement,  but  shall  remain a valid and  binding  obligation  enforceable  in
accordance with the terms and provisions hereof. The Company waives all right to
require the Secured  Party to proceed  against any other  person or to apply any
Collateral  which the Secured Party may hold at any time, or to marshal  assets,
or to pursue any other remedy.  The Company waives any defense arising by reason
of the  application  of the statute of  limitations  to any  obligation  secured
hereby.

      11. Term of  Agreement.  This  Agreement and the Security  Interest  shall
terminate on the date on which all payments under the Debentures  have been made
in full and all  other  Obligations  have  been  paid or  discharged.  Upon such
termination,  the  Secured  Party,  at the  request  and at the  expense  of the
Company,  will join in executing any  termination  statement with respect to any
financing statement executed and filed pursuant to this Agreement.

      12. Power of Attorney; Further Assurances.

            (a) The Company  authorizes the Secured Party, and does hereby make,
constitute and appoint it, and its respective  officers,  agents,  successors or
assigns  with full  power of  substitution,  as the  Company's  true and  lawful
attorney-in-fact, with power, in its own name or in the name of the Company, to,
after the  occurrence  and during the  continuance  of an Event of Default,  (i)
endorse any notes, checks, drafts, money orders, or other instruments of payment
(including  payments  payable under or in respect of any policy of insurance) in
respect of the  Collateral  that may come into  possession of the Secured Party;
(ii) to sign and endorse any UCC financing statement or any invoice,  freight or
express bill,  bill of lading,  storage or warehouse  receipts,  drafts  against
debtors, assignments, verifications and notices in connection with accounts, and
other  documents  relating to the Collateral;  (iii) to pay or discharge  taxes,
liens,  security interests or other encumbrances at any time levied or placed on
or threatened  against the  Collateral;  (iv) to demand,  collect,  receipt for,
compromise,  settle and sue for monies due in respect of the Collateral; and (v)
generally,  to do, at the  option of the  Secured  Party,  and at the  Company's
expense,  at any  time,  or from  time to time,  all acts and  things  which the
Secured  Party  deems  necessary  to  protect,  preserve  and  realize  upon the
Collateral  and the  Security  Interest  granted  therein in order to effect the
intent of this  Agreement,  the  Debentures  and the Warrants,  all as fully and
effectually  as the Company might or could do; and the Company  hereby  ratifies
all that said attorney  shall  lawfully do or cause to be done by virtue hereof.
This power of attorney is coupled with an interest and shall be irrevocable  for
the term of this  Agreement  and  thereafter  as long as any of the  Obligations
shall be outstanding.

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            (b)  On  a  continuing  basis,  the  Company  will  make,   execute,
acknowledge,  deliver, file and record, as the case may be, in the proper filing
and recording places in any jurisdiction,  including,  without  limitation,  the
jurisdictions  indicated on Schedule B, attached hereto,  all such  instruments,
and take all such action as may reasonably be deemed necessary or advisable,  or
as reasonably  requested by the Secured Party, to perfect the Security  Interest
granted  hereunder  and  otherwise  to carry out the intent and purposes of this
Agreement,  or for assuring  and  confirming  to the Secured  Party the grant or
perfection of a security interest in all the Collateral.

            (c) The Company hereby irrevocably appoints the Secured Party as the
Company's  attorney-in-fact,  with full  authority in the place and stead of the
Company and in the name of the Company, from time to time in the Secured Party's
discretion,  to take any action and to execute any instrument  which the Secured
Party may deem  necessary  or  advisable  to  accomplish  the  purposes  of this
Agreement,  including  the  filing,  in its  sole  discretion,  of  one or  more
financing or continuation statements and amendments thereto,  relative to any of
the Collateral without the signature of the Company where permitted by law.

      13.  Notices.  All  notices,  requests,  demands and other  communications
hereunder shall be in writing,  with copies to all the other parties hereto, and
shall be deemed to have been duly  given  when (i) if  delivered  by hand,  upon
receipt,  (ii) if sent by facsimile,  upon receipt of proof of sending  thereof,
(iii) if sent by  nationally  recognized  overnight  delivery  service  (receipt
requested), the next business day or (iv) if mailed by first-class registered or
certified  mail,  return receipt  requested,  postage  prepaid,  four days after
posting in the U.S. mails, in each case if delivered to the following addresses:

      If to the Company:       Central Wireless, Inc.
                               4333 S. Tamiami Trail, Suite E
                               Sarasota, Florida 34231
                               Attention: Kenneth W. Brand
                               Facsimile: 941-929-1476

      With copies to:          Kirkpatrick & Lockhart LLP
                               Miami Center, 20th Floor
                               201 South Biscayne Boulevard
                               Miami, Florida  33131-2399
                               Attention: Clayton E. Parker, Esq.
                               Facsimile: 305-358-7095

      If to the Secured Party: AJW Offshore, Ltd.
                               AJW Qualified Partners, LLC
                               1044 Northern Boulevard, Suite 302
                               Roslyn, New York 11576
                               Attention: Corey Ribotsky
                               Facsimile: 516-739-7115

                                       9
<PAGE>

                               With copies to:

                               Ballard Spahr Andrews & Ingersoll, LLP
                               1735 Market Street, 51st Floor
                               Philadelphia, Pennsylvania  19103
                               Attention: Gerald J. Guarcini, Esq.
                               Facsimile: 215-864-8999

      14.  Other  Security.  To the  extent  that  the  Obligations  are  now or
hereafter  secured by property  other than the  Collateral or by the  guarantee,
endorsement or property of any other person, firm,  corporation or other entity,
then the Secured Party shall have the right, in its sole discretion,  to pursue,
relinquish,  subordinate,  modify or take any other action with respect thereto,
without in any way modifying or affecting any of the Secured  Party's rights and
remedies hereunder.

      15. Miscellaneous.

            (a) No course of dealing  between the Company and the Secured Party,
nor any failure to  exercise,  nor any delay in  exercising,  on the part of the
Secured Party, any right,  power or privilege  hereunder or under the Debentures
shall operate as a waiver thereof;  nor shall any single or partial  exercise of
any right,  power or  privilege  hereunder or  thereunder  preclude any other or
further exercise thereof or the exercise of any other right, power or privilege.

            (b) All of the rights and remedies of the Secured Party with respect
to the  Collateral,  whether  established  hereby or by the Debentures or by any
other agreements, instruments or documents or by law shall be cumulative and may
be exercised singly or concurrently.

            (c) This Agreement  constitutes the entire  agreement of the parties
with respect to the subject matter hereof and is intended to supersede all prior
negotiations,  understandings  and agreements  with respect  thereto.  Except as
specifically set forth in this Agreement,  no provision of this Agreement may be
modified or amended except by a written agreement specifically referring to this
Agreement and signed by the parties hereto.

            (d) In the event that any provision of this  Agreement is held to be
invalid,  prohibited or unenforceable in any jurisdiction for any reason, unless
such provision is narrowed by judicial construction, this Agreement shall, as to
such jurisdiction,  be construed as if such invalid, prohibited or unenforceable
provision  had been more narrowly  drawn so as not to be invalid,  prohibited or
unenforceable.   If,  notwithstanding  the  foregoing,  any  provision  of  this
Agreement  is  held  to  be  invalid,   prohibited  or   unenforceable   in  any
jurisdiction,  such provision, as to such jurisdiction,  shall be ineffective to
the  extent  of  such  invalidity,   prohibition  or  unenforceability   without
invalidating the remaining  portion of such provision or the other provisions of
this  Agreement  and without  affecting the validity or  enforceability  of such
provision or the other provisions of this Agreement in any other jurisdiction.

            (e) No  waiver of any  breach or  default  or any right  under  this
Agreement  shall be  considered  valid unless in writing and signed by the party
giving  such  waiver,  and no such  waiver  shall  be  deemed  a  waiver  of any
subsequent breach or default or right,  whether of the same or similar nature or
otherwise.

                                       10
<PAGE>

            (f) This Agreement shall be binding upon and inure to the benefit of
each party hereto and its successors and assigns.

            (g) Each  party  shall take such  further  action  and  execute  and
deliver such further  documents as may be necessary or  appropriate  in order to
carry out the provisions and purposes of this Agreement.

            (h) This Agreement shall be construed in accordance with the laws of
the  State of New  York,  except  to the  extent  the  validity,  perfection  or
enforcement  of a security  interest  hereunder  in  respect  of any  particular
Collateral which are governed by a jurisdiction other than the State of New York
in which case such law shall  govern.  Each of the  parties  hereto  irrevocably
submit to the  exclusive  jurisdiction  of any New York  State or United  States
Federal court sitting in Manhattan county over any action or proceeding  arising
out of or relating to this Agreement,  and the parties hereto hereby irrevocably
agree that all claims in respect of such action or  proceeding  may be heard and
determined  in such New York State or Federal  court.  The parties  hereto agree
that a final  judgment in any such action or proceeding  shall be conclusive and
may be enforced in other  jurisdictions  by suit on the judgment or in any other
manner  provided by law. The parties hereto further waive any objection to venue
in the State of New York and any  objection  to an action or  proceeding  in the
State of New York on the basis of forum non conveniens.

            (i) EACH PARTY HERETO HEREBY AGREES TO WAIVE ITS  RESPECTIVE  RIGHTS
TO A JURY TRAIL OF ANY CLAIM OR CAUSE OF ACTION  BASED  UPON OR  ARISING  OUT OF
THIS AGREEMENT.  THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL  ENCOMPASSING OF
ANY DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATER
OF THIS AGREEMENT,  INCLUDING WITHOUT LIMITATION  CONTRACT CLAIMS,  TORT CLAIMS,
BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS.  EACH PARTY
HERETO  ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT FOR EACH PARTY TO
ENTER INTO A BUSINESS  RELATIONSHIP,  THAT EACH PARTY HAS ALREADY RELIED ON THIS
WAIVER IN ENTERING INTO THIS AGREEMENT AND THAT EACH PARTY WILL CONTINUE TO RELY
ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH PARTY FURTHER WARRANTS AND
REPRESENTS  THAT IT HAS REVIEWED  THIS WAIVER WITH ITS LEGAL  COUNSEL,  AND THAT
SUCH  PARTY HAS  KNOWINGLY  AND  VOLUNTARILY  WAIVES  ITS RIGHTS TO A JURY TRIAL
FOLLOWING  SUCH  CONSULTATION.   THIS  WAIVER  IS  IRREVOCABLE,   MEANING  THAT,
NOTWITHSTANDING  ANYTHING HEREIN TO THE CONTRARY,  IT MAY NOT BE MODIFIED EITHER
ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT  AMENDMENTS,
RENEWALS AND SUPPLEMENTS OR MODIFICATIONS  TO THIS AGREEMENT.  IN THE EVENT OF A
LITIGATION,  THIS AGREEMENT MAY BE FILED AS A WRITTEN  CONSENT TO A TRIAL BY THE
COURT.

                                       11
<PAGE>

            (j) This  Agreement  may be executed in any number of  counterparts,
each of which when so  executed  shall be deemed to be an original  and,  all of
which taken together shall  constitute one and the same Agreement.  In the event
that any signature is delivered by facsimile transmission,  such signature shall
create a valid  binding  obligation  of the party  executing (or on whose behalf
such  signature is executed)  the same with the same force and effect as if such
facsimile signature were the original thereof.

                 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       12
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Security Agreement
to be duly executed on the day and year first above written.

                              CENTRAL WIRELESS, INC.

                              By:        /s/Kenneth W. Brand
                                  ----------------------------------------------
                                  Kenneth W. Brand
                                  Chief Executive Officer

                              AJW OFFSHORE, LTD.
                              By:  First Street Manager II, LLC

                              By:        /s/ Corey S. Ribotsky
                                  ----------------------------------------------
                                  Corey S. Ribotsky
                                  Manager

                              AJW QUALIFIED PARTNERS, LLC
                              By: AJW Manager, LLC

                              By:         /s/ Corey S. Ribotsky
                                  ----------------------------------------------
                                  Corey S. Ribotsky
                                  Manager

<PAGE>

                                  SCHEDULE A

Principal Place of Business of the Company:

4333 South Tamiami Trail, Suite E, Sarasota, Florida  34231

Locations Where Collateral is Located or Stored:

None.

List of Subsidiaries of the Company:

None.

<PAGE>

                                   SCHEDULE B

Jurisdictions:

Utah

FloridaEXHIBIT 4.40

                   INTELLECTUAL PROPERTY SECURITY AGREEMENT

            Intellectual  Property Security Agreement (this "Agreement" dated as
of April 30, 2004, by and among Central Wireless,  Inc., a Utah corporation (the
"Company"),  and the  secured  parties  signatory  hereto  and their  respective
endorsees, transferees and assigns (collectively, the "Secured Party").

                            W I T N E S S E T H :

      WHEREAS,  pursuant  to a  Securities  Purchase  Agreement,  dated the date
hereof,  between  Company  and the  Secured  Party (the  "Purchase  Agreement"),
Company  has  agreed to issue to the  Secured  Party and the  Secured  Party has
agreed to purchase  from  Company  certain of  Company's  12%  Callable  Secured
Convertible Debentures, due two years from the date of issue (the "Debentures"),
which are convertible into shares of Company's Common Stock, par value $.001 per
share (the "Common  Stock").  In connection  therewith,  Company shall issue the
Secured Party certain Common Stock purchase warrants dated as of the date hereof
to purchase  the number of shares of Common Stock  indicated  below each Secured
Party's name on the Purchase Agreement (the "Warrants"); and

      WHEREAS,  in order to induce the Secured Party to purchase the Debentures,
Company has agreed to execute and  deliver to the Secured  Party this  Agreement
for the  benefit  of the  Secured  Party  and to  grant  to it a first  priority
security interest in certain Intellectual Property (defined below) of Company to
secure the prompt payment, performance and discharge in full of all of Company's
obligations under the Debentures and exercise and discharge in full of Company's
obligations under the Warrants; and

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

            1. Defined Terms.  Unless otherwise defined herein,  terms which are
defined in the Purchase Agreement and used herein are so used as so defined; and
the following terms shall have the following meanings:

                  "Company"  shall  mean,  collectively,  Company and all of the
subsidiaries  of Company,  a list of which is contained in Schedule A,  attached
hereto.

                  "Copyrights" shall mean (a) all copyrights,  registrations and
applications  for  registration,   issued  or  filed,  including  any  reissues,
extensions or renewals thereof, by or with the United States Copyright Office or
any similar  office or agency of the United States,  any state  thereof,  or any
other country or political  subdivision  thereof, or otherwise,  including,  all
rights  in  and  to  the  material  constituting  the  subject  matter  thereof,
including, without limitation, any referred to in Schedule B hereto, and (b) any
rights in any material  which is  copyrightable  or which is protected by common
law,  United  States  copyright  laws or  similar  laws or any law of any State,
including, without limitation, any thereof referred to in Schedule B hereto.

<PAGE>

                  "Copyright License" shall mean any agreement, written or oral,
providing for a grant by the Company of any right in any  Copyright,  including,
without limitation, any thereof referred to in Schedule B hereto.

                  "Intellectual   Property"  shall  means,   collectively,   the
Software Intellectual Property, Copyrights,  Copyright Licenses, Patents, Patent
Licenses, Trademarks, Trademark Licenses and Trade Secrets.

                  "Obligations"  means all of the  Company's  obligations  under
this  Agreement  and the  Debentures,  in each case,  whether  now or  hereafter
existing, voluntary or involuntary,  direct or indirect, absolute or contingent,
liquidated or unliquidated, whether or not jointly owed with others, and whether
or not from time to time decreased or extinguished and later decreased,  created
or incurred,  and all or any portion of such obligations or liabilities that are
paid,  to the  extent all or any part of such  payment  is avoided or  recovered
directly  or  indirectly  from the  Secured  Party as a  preference,  fraudulent
transfer  or  otherwise  as  such  obligations  may  be  amended,  supplemented,
converted, extended or modified from time to time.

                  "Patents"  shall  mean (a) all  letters  patent of the  United
States  or any other  country  or any  political  subdivision  thereof,  and all
reissues and extensions  thereof,  including,  without  limitation,  any thereof
referred to in Schedule B hereto, and (b) all applications for letters patent of
the United States and all  divisions,  continuations  and  continuations-in-part
thereof or any other country or any political  subdivision,  including,  without
limitation, any thereof referred to in Schedule B hereto.

                  "Patent License" shall mean all agreements, whether written or
oral, providing for the grant by the Company of any right to manufacture, use or
sell any  invention  covered by a Patent,  including,  without  limitation,  any
thereof referred to in Schedule B hereto.

                  "Security Agreement" shall mean the Security Agreement,  dated
the date hereof between Company and the Secured Party.

                  "Software Intellectual Property" shall mean:

                  (a) all software  programs  (including all source code, object
code and all related applications and data files),  whether now owned, upgraded,
enhanced, licensed or leased or hereafter acquired by the Company, above;

                  (b) all computers and electronic data processing  hardware and
firmware associated therewith;

                  (c) all documentation  (including flow charts, logic diagrams,
manuals, guides and specifications) with respect to such software,  hardware and
firmware described in the preceding clauses (a) and (b); and

                  (d)  all  rights  with  respect  to  all  of  the   foregoing,
including, without limitation, any and all upgrades, modifications,  copyrights,
licenses, options, warranties, service contracts, program services, test rights,
maintenance  rights,  support  rights,  improvement  rights,  renewal rights and
indemnifications   and   substitutions,   replacements,   additions,   or  model
conversions of any of the foregoing.

                                       2
<PAGE>

                  "Trademarks"  shall  mean  (a) all  trademarks,  trade  names,
corporate names, company names, business names, fictitious business names, trade
styles,  service marks, logos and other source or business identifiers,  and the
goodwill  associated  therewith,  now existing or hereafter adopted or acquired,
all  registrations  and recordings  thereof,  and all applications in connection
therewith,  whether in the United States  Patent and Trademark  Office or in any
similar  office or agency of the United  States,  any state thereof or any other
country or any political subdivision thereof, or otherwise,  including,  without
limitation,  any thereof referred to in Schedule B hereto, and (b) all reissues,
extensions or renewals thereof.

                  "Trademark License" shall mean any agreement, written or oral,
providing  for the  grant by the  Company  of any  right  to use any  Trademark,
including, without limitation, any thereof referred to in Schedule B hereto.

                  "Trade  Secrets"  shall mean  common law and  statutory  trade
secrets and all other  confidential or proprietary or useful information and all
know-how  obtained  by or used in or  contemplated  at any  time  for use in the
business of the Company (all of the foregoing being collectively called a "Trade
Secret"),  whether  or not such Trade  Secret  has been  reduced to a writing or
other tangible form, including all documents and things embodying, incorporating
or  referring  in any way to such  Trade  Secret,  all  Trade  Secret  licenses,
including  each Trade  Secret  license  referred  to in  Schedule B hereto,  and
including  the right to sue for and to enjoin  and to  collect  damages  for the
actual or threatened  misappropriation of any Trade Secret and for the breach or
enforcement of any such Trade Secret license.

            2. Grant of Security  Interest.  In accordance  with Section 3(m) of
the Security Agreement,  to secure the complete and timely payment,  performance
and  discharge  in  full,  as the case may be,  of all of the  Obligations,  the
Company  hereby,   unconditionally   and   irrevocably,   pledges,   grants  and
hypothecates  to the  Secured  Party,  a  continuing  security  interest  in,  a
continuing  first lien upon, an unqualified  right to possession and disposition
of and a right of set-off against,  in each case to the fullest extent permitted
by law, all of the Company's  right,  title and interest of whatsoever  kind and
nature in and to the Intellectual Property (the "Security Interest").

            3. Representations and Warranties. The Company hereby represents and
warrants, and covenants and agrees with, the Secured Party as follows:

                  (a)  The  Company  has  the  requisite   corporate  power  and
authority  to  enter  into  this  Agreement  and  otherwise  to  carry  out  its
obligations thereunder.  The execution,  delivery and performance by the Company
of this Agreement and the filings contemplated therein have been duly authorized
by all  necessary  action on the part of the  Company  and no further  action is
required by the Company.  This Agreement  constitutes a legal, valid and binding
obligation of the Company  enforceable in accordance  with its terms,  except as
enforceability  may  be  limited  by  bankruptcy,  insolvency,   reorganization,
moratorium  or similar laws  affecting  the  enforcement  of  creditor's  rights
generally.

                                       3
<PAGE>

                  (b) The Company  represents  and warrants that it has no place
of business  or offices  where its  respective  books of account and records are
kept (other than  temporarily at the offices of its attorneys or accountants) or
places where the Intellectual Property is stored or located, except as set forth
on Schedule A attached hereto;

                  (c) The Company is the sole owner of the Intellectual Property
(except for non-exclusive licenses granted by the Company in the ordinary course
of business),  free and clear of any liens,  security  interests,  encumbrances,
rights or claims,  and is fully authorized to grant the Security Interest in and
to pledge the Intellectual Property. There is not on file in any governmental or
regulatory  authority,   agency  or  recording  office  an  effective  financing
statement,  security agreement,  license or transfer or any notice of any of the
foregoing  (other than those that have been filed in favor of the Secured  Party
pursuant  to this  Agreement)  covering  or  affecting  any of the  Intellectual
Property.  So long as this Agreement  shall be in effect,  the Company shall not
execute  and shall  not  knowingly  permit  to be on file in any such  office or
agency any such financing  statement or other document or instrument  (except to
the extent filed or recorded in favor of the Secured Party pursuant to the terms
of this Agreement), except for a financing statement covering assets acquired by
the Company after the date hereof,  provided that the value of the  Intellectual
Property  covered by this Agreement along with the Collateral (as defined in the
Security Agreement) is equal to at least 150% of the Obligations.

                  (d) The  Company  shall at all  times  maintain  its  books of
account and records relating to the Intellectual Property at its principal place
of business and its Intellectual Property at the locations set forth on Schedule
A attached  hereto and may not relocate such books of account and records unless
it delivers to the Secured Party at least 30 days prior to such  relocation  (i)
written notice of such  relocation  and the new location  thereof (which must be
within the United  States) and (ii) evidence that the necessary  documents  have
been filed and  recorded and other steps have been taken to perfect the Security
Interest to create in favor of the Secured Party valid, perfected and continuing
first  priority  liens in the  Intellectual  Property  to the extent they can be
perfected through such filings.

                  (e) This  Agreement  creates in favor of the  Secured  Party a
valid security  interest in the Intellectual  Property  securing the payment and
performance of the Obligations and, upon making the filings required  hereunder,
a perfected first priority security  interest in such  Intellectual  Property to
the extent that it can be perfected through such filings.

                  (f) Upon  request of the  Secured  Party,  the  Company  shall
execute and deliver any and all agreements,  instruments,  documents, and papers
as the  Secured  Party may  request to evidence  the  Secured  Party's  security
interest in the Intellectual  Property and the goodwill and general  intangibles
of the Company relating thereto or represented  thereby,  and the Company hereby
appoints  the Secured  Party its  attorney-in-fact  to execute and file all such
writings for the  foregoing  purposes,  all acts of such  attorney  being hereby
ratified and confirmed; such power being coupled with an interest is irrevocable
until the Obligations have been fully satisfied and are paid in full.

                  (g) The execution,  delivery and performance of this Agreement
does not  conflict  with or cause a breach or default,  or an event that with or
without the  passage of time or notice,  shall  constitute  a breach or default,
under any  agreement  to which the Company is a party or by which the Company is

                                       4
<PAGE>

bound.  No  consent  (including,  without  limitation,  from  stock  holders  or
creditors  of the Company) is required for the Company to enter into and perform
its obligations hereunder.

                  (h) The  Company  shall at all  times  maintain  the liens and
Security  Interest  provided for hereunder as valid and perfected first priority
liens and security interests in the Intellectual Property to the extent they can
be perfected by filing in favor of the Secured  Party until this  Agreement  and
the Security  Interest  hereunder  shall  terminate  pursuant to Section 11. The
Company  hereby  agrees to defend  the same  against  any and all  persons.  The
Company shall safeguard and protect all Intellectual Property for the account of
the Secured Party. Without limiting the generality of the foregoing, the Company
shall  pay  all  fees,  taxes  and  other  amounts  necessary  to  maintain  the
Intellectual Property and the Security Interest hereunder, and the Company shall
obtain and furnish to the Secured  Party from time to time,  upon  demand,  such
releases  and/or  subordinations  of claims and liens  which may be  required to
maintain the priority of the Security Interest hereunder.

                  (i)  The  Company  will  not  transfer,  pledge,  hypothecate,
encumber,  license (except for non-exclusive  licenses granted by the Company in
the  ordinary  course of  business),  sell or  otherwise  dispose  of any of the
Intellectual Property without the prior written consent of the Secured Party.

                  (j) The  Company  shall,  within  ten (10)  days of  obtaining
knowledge thereof,  advise the Secured Party promptly,  in sufficient detail, of
any substantial  change in the Intellectual  Property,  and of the occurrence of
any  event  which  would  have a  material  adverse  effect  on the value of the
Intellectual Property or on the Secured Party's security interest therein.

                  (k)  The  Company  shall  permit  the  Secured  Party  and its
representatives and agents to inspect the Intellectual Property at any time, and
to make  copies of records  pertaining  to the  Intellectual  Property as may be
requested by the Secured Party from time to time.

                  (l) The Company  will take all steps  reasonably  necessary to
diligently pursue and seek to preserve,  enforce and collect any rights, claims,
causes  of  action  and  accounts  receivable  in  respect  of the  Intellectual
Property.

                  (m) The Company  shall  promptly  notify the Secured  Party in
sufficient detail upon becoming aware of any attachment,  garnishment, execution
or other legal process levied against any Intellectual Property and of any other
information  received by the Company that may materially affect the value of the
Intellectual  Property,  the Security Interest or the rights and remedies of the
Secured Party hereunder.

                  (n) All information  heretofore,  herein or hereafter supplied
to the  Secured  Party  by or on  behalf  of the  Company  with  respect  to the
Intellectual  Property is accurate and  complete in all material  respects as of
the date furnished.

                  (o) Schedule A attached  hereto  contains a list of all of the
subsidiaries of Company.

                                       5
<PAGE>

                  (p) Schedule B attached hereto includes all Licenses,  and all
Patents and Patent Licenses,  if any, owned by the Company in its own name as of
the date  hereof.  Schedule  B hereto  includes  all  Trademarks  and  Trademark
Licenses,  if any,  owned by the Company in its own name as of the date  hereof.
Schedule B hereto includes all Copyrights and Copyright Licenses,  if any, owned
by the Company in its own name as of the date hereof. Schedule B hereto includes
all Trade Secrets and Trade Secret Licenses,  if any, owned by the Company as of
the date hereof. To the best of the Company's knowledge,  each License,  Patent,
Trademark,   Copyright  and  Trade  Secret  is  valid,  subsisting,   unexpired,
enforceable and has not been abandoned.  Except as set forth in Schedule B, none
of such  Licenses,  Patents,  Trademarks,  Copyrights  and Trade  Secrets is the
subject of any  licensing or franchise  agreement.  To the best of the Company's
knowledge,   no  holding,   decision  or  judgment  has  been  rendered  by  any
Governmental  Body which would  limit,  cancel or question  the  validity of any
License,  Patent,  Trademark,  Copyright  and  Trade  Secrets  .  No  action  or
proceeding  is pending (i) seeking to limit,  cancel or question the validity of
any License,  Patent,  Trademark,  Copyright or Trade Secret,  or (ii) which, if
adversely  determined,  would have a material adverse effect on the value of any
License, Patent, Trademark,  Copyright or Trade Secret. The Company has used and
will continue to use for the duration of this Agreement, proper statutory notice
in  connection  with  its use of the  Patents,  Trademarks  and  Copyrights  and
consistent  standards  of quality in products  leased or sold under the Patents,
Trademarks and Copyrights.

                  (q) With respect to any Intellectual Property:

                        (i)   such  Intellectual  Property is subsisting and has
                              not been  adjudged  invalid or  unenforceable,  in
                              whole or in part;

                        (ii)  such   Intellectual    Property   is   valid   and
                              enforceable;

                        (iii) the  Company  has made all  necessary  filings and
                              recordations  to  protect  its  interest  in  such
                              Intellectual    Property,    including,    without
                              limitation,  recordations  of all of its interests
                              in the Patents,  Patent  Licenses,  Trademarks and
                              Trademark Licenses in the United States Patent and
                              Trademark  Office  and  in  corresponding  offices
                              throughout   the  world  and  its  claims  to  the
                              Copyrights  and  Copyright  Licenses in the United
                              States   Copyright  Office  and  in  corresponding
                              offices throughout the world;

                        (iv)  other than as set forth in Schedule B, the Company
                              is  the   exclusive   owner  of  the   entire  and
                              unencumbered  right,  title and interest in and to
                              such  Intellectual  Property and no claim has been
                              made  that the use of such  Intellectual  Property
                              infringes  on the  asserted  rights  of any  third
                              party; and

                        (v)   the Company  has  performed  and will  continue to
                              perform  all acts and has paid all  required  fees
                              and  taxes  to  maintain  each and  every  item of
                              Intellectual  Property  in full  force and  effect
                              throughout the world, as applicable.

                                       6
<PAGE>

                  (r) Except with respect to any Trademark or Copyright that the
Company  shall  reasonably  determine  is of  negligible  economic  value to the
Company, the Company shall

                        (i) maintain each  Trademark and Copyright in full force
      free from any claim of  abandonment  for non-use,  maintain as in the past
      the quality of products  and  services  offered  under such  Trademark  or
      Copyright;  employ such Trademark or Copyright with the appropriate notice
      of registration; not adopt or use any mark which is confusingly similar or
      a colorable  imitation of such  Trademark or Copyright  unless the Secured
      Party shall obtain a perfected  security interest in such mark pursuant to
      this  Agreement;  and not (and not  permit  any  licensee  or  sublicensee
      thereof  to) do any  act or  knowingly  omit  to do any  act  whereby  any
      Trademark or Copyright may become invalidated;

                        (ii) not,  except  with  respect to any  Patent  that it
      shall reasonably  determine is of negligible  economic value to it, do any
      act,  or omit to do any act,  whereby any Patent may become  abandoned  or
      dedicated; and

                        (iii) notify the Secured Party  immediately if it knows,
      or has reason to know, that any  application or  registration  relating to
      any Patent,  Trademark or Copyright may become abandoned or dedicated,  or
      of  any  adverse   determination   or  development   (including,   without
      limitation,  the institution of, or any such  determination or development
      in, any  proceeding  in the United  States  Patent and  Trademark  Office,
      United  States  Copyright  Office or any court or tribunal in any country)
      regarding its ownership of any Patent, Trademark or Copyright or its right
      to register the same or to keep and maintain the same.

                  (s)  Whenever  the  Company,  either by itself or through  any
agent,  employee,  licensee  or  designee,  shall  file an  application  for the
registration of any Patent, Trademark or Copyright with the United States Patent
and Trademark  Office,  United States  Copyright Office or any similar office or
agency in any other  country  or any  political  subdivision  thereof or acquire
rights to any new Patent,  Trademark  or  Copyright  whether or not  registered,
report such filing to the Secured Party within five business days after the last
day of the fiscal quarter in which such filing occurs.

                  (t) The Company shall take all reasonable and necessary steps,
including, without limitation, in any proceeding before the United States Patent
and Trademark  Office,  United States  Copyright Office or any similar office or
agency in any other country or any political  subdivision  thereof,  to maintain
and pursue each  application  (and to obtain the relevant  registration)  and to
maintain each registration of the Patents, Trademarks and Copyrights, including,
without  limitation,  filing of applications for renewal,  affidavits of use and
affidavits of incontestability.

                                       7
<PAGE>

                  (u) In the  event  that any  Patent,  Trademark  or  Copyright
included in the Intellectual  Property is infringed,  misappropriated or diluted
by a third party,  promptly notify the Secured Party after it learns thereof and
shall,  unless it shall  reasonably  determine  that such  Patent,  Trademark or
Copyright is of negligible  economic value to it, which  determination  it shall
promptly   report  to  the  Secured  Party,   promptly  sue  for   infringement,
misappropriation or dilution, to seek injunctive relief where appropriate and to
recover any and all damages for such infringement, misappropriation or dilution,
or take such other actions as it shall  reasonably  deem  appropriate  under the
circumstances  to protect such Patent,  Trademark or  Copyright.  If the Company
lacks the  financial  resources  to comply with this Section  3(t),  the Company
shall so notify the Secured Party and shall cooperate fully with any enforcement
action undertaken by the Secured Party on behalf of the Company.

            4. Defaults. The following events shall be "Events of Default":

                  (a) The  occurrence  of an Event of Default (as defined in the
Debentures) under the Debentures;

                  (b) Any  representation  or  warranty  of the  Company in this
Agreement or in the Security Agreement shall prove to have been incorrect in any
material respect when made;

                  (c) The  failure by the  Company to observe or perform  any of
its obligations  hereunder or in the Security  Agreement for ten (10) days after
receipt by the Company of notice of such failure from the Secured Party; and

                  (d) Any breach of, or default under, the Warrants.

            5.  Duty To Hold In  Trust.  Upon  the  occurrence  of any  Event of
Default and at any time thereafter, the Company shall, upon receipt by it of any
revenue, income or other sums subject to the Security Interest,  whether payable
pursuant to the Debentures or otherwise,  or of any check,  draft,  note,  trade
acceptance  or other  instrument  evidencing  an obligation to pay any such sum,
hold the same in trust for the  Secured  Party and shall  forthwith  endorse and
transfer  any such  sums or  instruments,  or both,  to the  Secured  Party  for
application to the satisfaction of the Obligations.

            6. Rights and Remedies Upon Default. Upon occurrence of any Event of
Default and at any time  thereafter,  the Secured  Party shall have the right to
exercise all of the remedies conferred  hereunder and under the Debentures,  and
the  Secured  Party shall have all the rights and  remedies  of a secured  party
under the UCC and/or any other applicable law (including the Uniform  Commercial
Code of any  jurisdiction in which any  Intellectual  Property is then located).
Without  limitation,  the  Secured  Party  shall have the  following  rights and
powers:

                  (a) The Secured Party shall have the right to take  possession
of the  Intellectual  Property  and, for that purpose,  enter,  with the aid and
assistance of any person, any premises where the Intellectual  Property,  or any
part  thereof,  is or may be placed and remove the same,  and the Company  shall
assemble the Intellectual Property and make it available to the Secured Party at
places which the Secured Party shall reasonably select, whether at the Company's
premises or elsewhere,  and make available to the Secured  Party,  without rent,

                                       8
<PAGE>

all of the Company's  respective  premises and facilities for the purpose of the
Secured  Party  taking  possession  of,  removing  or putting  the  Intellectual
Property in saleable or disposable form.

                  (b) The  Secured  Party  shall have the right to  operate  the
business of the Company using the Intellectual Property and shall have the right
to assign,  sell,  lease or otherwise  dispose of and deliver all or any part of
the Intellectual  Property, at public or private sale or otherwise,  either with
or without  special  conditions  or  stipulations,  for cash or on credit or for
future delivery, in such parcel or parcels and at such time or times and at such
place or places,  and upon such terms and  conditions  as the Secured  Party may
deem  commercially  reasonable,  all  without  (except as shall be  required  by
applicable statute and cannot be waived)  advertisement or demand upon or notice
to the Company or right of redemption of the Company, which are hereby expressly
waived. Upon each such sale, lease, assignment or other transfer of Intellectual
Property,  the Secured Party may,  unless  prohibited  by  applicable  law which
cannot be waived,  purchase all or any part of the  Intellectual  Property being
sold,  free from and discharged of all trusts,  claims,  right of redemption and
equities of the Company, which are hereby waived and released.

            7. Applications of Proceeds. The proceeds of any such sale, lease or
other disposition of the Intellectual Property hereunder shall be applied first,
to the expenses of retaking,  holding,  storing,  processing  and  preparing for
sale, selling, and the like (including,  without limitation, any taxes, fees and
other costs incurred in connection  therewith) of the Intellectual  Property, to
the  reasonable  attorneys'  fees and expenses  incurred by the Secured Party in
enforcing its rights  hereunder and in connection with  collecting,  storing and
disposing  of  the  Intellectual  Property,  and  then  to  satisfaction  of the
Obligations, and to the payment of any other amounts required by applicable law,
after which the Secured Party shall pay to the Company any surplus proceeds. If,
upon the sale,  license or other disposition of the Intellectual  Property,  the
proceeds  thereof are insufficient to pay all amounts to which the Secured Party
is legally  entitled,  the Company will be liable for the  deficiency,  together
with interest  thereon,  at the rate of 15% per annum (the "Default Rate"),  and
the  reasonable  fees of any attorneys  employed by the Secured Party to collect
such  deficiency.  To the extent permitted by applicable law, the Company waives
all claims,  damages and demands  against the Secured  Party  arising out of the
repossession,  removal,  retention or sale of the Intellectual Property,  unless
due to the gross negligence or willful misconduct of the Secured Party.

            8. Costs and Expenses.  The Company agrees to pay all  out-of-pocket
fees,  costs and  expenses  incurred  in  connection  with any  filing  required
hereunder, including without limitation, any financing statements,  continuation
statements,  partial releases and/or  termination  statements related thereto or
any  expenses of any  searches  reasonably  required by the Secured  Party.  The
Company  shall also pay all other  claims and  charges  which in the  reasonable
opinion of the Secured Party might  prejudice,  imperil or otherwise  affect the
Intellectual  Property or the Security Interest therein.  The Company will also,
upon  demand,  pay to the  Secured  Party the  amount of any and all  reasonable
expenses,  including the reasonable  fees and expenses of its counsel and of any
experts and agents, which the Secured Party may incur in connection with (i) the
enforcement of this Agreement,  (ii) the custody or preservation of, or the sale
of,  collection  from,  or  other  realization  upon,  any of  the  Intellectual
Property,  or (iii) the  exercise  or  enforcement  of any of the  rights of the
Secured Party under the  Debentures.  Until so paid, any fees payable  hereunder
shall be added to the principal amount of the Debentures and shall bear interest
at the Default Rate.

                                       9
<PAGE>

            9. Responsibility for Intellectual Property. The Company assumes all
liabilities and responsibility in connection with all Intellectual Property, and
the  obligations  of the  Company  hereunder  or under  the  Debentures  and the
Warrants  shall in no way be  affected  or  diminished  by  reason  of the loss,
destruction,  damage  or  theft  of  any  of the  Intellectual  Property  or its
unavailability for any reason.

            10. Security Interest Absolute.  All rights of the Secured Party and
all Obligations of the Company  hereunder,  shall be absolute and unconditional,
irrespective of: (a) any lack of validity or  enforceability  of this Agreement,
the  Debentures,  the Warrants or any agreement  entered into in connection with
the  foregoing,  or any portion  hereof or thereof;  (b) any change in the time,
manner or place of  payment or  performance  of, or in any other term of, all or
any of the  Obligations,  or any other  amendment or waiver of or any consent to
any departure from the Debentures,  the Warrants or any other agreement  entered
into  in  connection   with  the  foregoing;   (c)  any  exchange,   release  or
nonperfection of any of the Intellectual  Property,  or any release or amendment
or waiver of or consent to departure from any other  Intellectual  Property for,
or any guaranty, or any other security,  for all or any of the Obligations;  (d)
any action by the Secured Party to obtain, adjust, settle and cancel in its sole
discretion  any insurance  claims or matters made or arising in connection  with
the Intellectual  Property;  or (e) any other circumstance which might otherwise
constitute  any  legal or  equitable  defense  available  to the  Company,  or a
discharge of all or any part of the Security Interest granted hereby.  Until the
Obligations  shall  have  been paid and  performed  in full,  the  rights of the
Secured Party shall continue even if the  Obligations are barred for any reason,
including,  without  limitation,  the running of the statute of  limitations  or
bankruptcy.  The  Company  expressly  waives  presentment,  protest,  notice  of
protest,  demand, notice of nonpayment and demand for performance.  In the event
that at any  time any  transfer  of any  Intellectual  Property  or any  payment
received  by the  Secured  Party  hereunder  shall be deemed by final order of a
court of competent jurisdiction to have been a voidable preference or fraudulent
conveyance  under the  bankruptcy or insolvency  laws of the United  States,  or
shall be deemed to be otherwise  due to any party other than the Secured  Party,
then,  in any such event,  the  Company's  obligations  hereunder  shall survive
cancellation of this Agreement,  and shall not be discharged or satisfied by any
prior payment thereof and/or cancellation of this Agreement,  but shall remain a
valid  and  binding  obligation  enforceable  in  accordance  with the terms and
provisions  hereof. The Company waives all right to require the Secured Party to
proceed against any other person or to apply any Intellectual Property which the
Secured Party may hold at any time, or to marshal assets, or to pursue any other
remedy.  The Company waives any defense  arising by reason of the application of
the statute of limitations to any obligation secured hereby.

            11. Term of  Agreement.  This  Agreement  and the Security  Interest
shall terminate on the date on which all payments under the Debentures have been
made in full and all other  Obligations have been paid or discharged.  Upon such
termination,  the  Secured  Party,  at the  request  and at the  expense  of the
Company,  will join in executing any  termination  statement with respect to any
financing statement executed and filed pursuant to this Agreement.

                                       10
<PAGE>

            12. Power of Attorney; Further Assurances.

                  (a) The Company  authorizes the Secured Party, and does hereby
make, constitute and appoint it, and its respective officers, agents, successors
or assigns with full power of  substitution,  as the  Company's  true and lawful
attorney-in-fact, with power, in its own name or in the name of the Company, to,
after the  occurrence  and during the  continuance  of an Event of Default,  (i)
endorse any notes, checks, drafts, money orders, or other instruments of payment
(including  payments  payable under or in respect of any policy of insurance) in
respect  of the  Intellectual  Property  that may come  into  possession  of the
Secured  Party;  (ii) to sign and endorse  any UCC  financing  statement  or any
invoice, freight or express bill, bill of lading, storage or warehouse receipts,
drafts against  debtors,  assignments,  verifications  and notices in connection
with accounts, and other documents relating to the Intellectual Property;  (iii)
to pay or discharge taxes,  liens,  security  interests or other encumbrances at
any time levied or placed on or threatened  against the  Intellectual  Property;
(iv) to demand, collect, receipt for, compromise,  settle and sue for monies due
in respect of the Intellectual Property; and (v) generally, to do, at the option
of the Secured Party, and at the Company's expense, at any time, or from time to
time,  all acts and things which the Secured  Party deems  necessary to protect,
preserve and realize upon the  Intellectual  Property and the Security  Interest
granted therein in order to effect the intent of this Agreement,  the Debentures
and the Warrants, all as fully and effectually as the Company might or could do;
and the Company  hereby  ratifies all that said  attorney  shall  lawfully do or
cause to be done by virtue  hereof.  This power of attorney  is coupled  with an
interest and shall be irrevocable  for the term of this Agreement and thereafter
as long as any of the Obligations shall be outstanding.

                  (b) On a continuing  basis,  the Company  will make,  execute,
acknowledge,  deliver, file and record, as the case may be, in the proper filing
and recording places in any jurisdiction,  including,  without  limitation,  the
jurisdictions  indicated on Schedule C, attached hereto,  all such  instruments,
and take all such action as may reasonably be deemed necessary or advisable,  or
as reasonably  requested by the Secured Party, to perfect the Security  Interest
granted  hereunder  and  otherwise  to carry out the intent and purposes of this
Agreement,  or for assuring  and  confirming  to the Secured  Party the grant or
perfection of a security interest in all the Intellectual Property.

                  (c) The Company hereby irrevocably  appoints the Secured Party
as the Company's attorney-in-fact, with full authority in the place and stead of
the  Company  and in the name of the  Company,  from time to time in the Secured
Party's  discretion,  to take any action and to execute any instrument which the
Secured Party may deem necessary or advisable to accomplish the purposes of this
Agreement,  including  the  filing,  in its  sole  discretion,  of  one or  more
financing or continuation statements and amendments thereto,  relative to any of
the  Intellectual  Property without the signature of the Company where permitted
by law.

            13. Notices. All notices, requests, demands and other communications
hereunder shall be in writing,  with copies to all the other parties hereto, and
shall be deemed to have been duly  given  when (i) if  delivered  by hand,  upon
receipt,  (ii) if sent by facsimile,  upon receipt of proof of sending  thereof,
(iii) if sent by  nationally  recognized  overnight  delivery  service  (receipt
requested), the next business day or (iv) if mailed by first-class registered or
certified  mail,  return receipt  requested,  postage  prepaid,  four days after
posting in the U.S. mails, in each case if delivered to the following addresses:

                                       11
<PAGE>

      If to the Company:        Central Wireless, Inc.
                                4333 S. Tamiami Trail, Suite E
                                Sarasota, Florida 34231
                                Attention: Kenneth W. Brand
                                Facsimile: 941-929-1476

      With copies to:           Kirkpatrick & Lockhart LLP
                                Miami Center, 20th Floor
                                201 South Biscayne Boulevard
                                Miami, Florida  33131-2399
                                Attention: Clayton E. Parker, Esq.
                                Facsimile: 305-358-7095

      If to the Secured Party:  AJW Offshore, Ltd.
                                AJW Qualified Partners, LLC
                                1044 Northern Boulevard
                                Suite 302
                                Roslyn, New York  11576
                                Attention: Corey Ribotsky
                                Facsimile: 516-739-7115

      With copies to:           Ballard Spahr Andrews & Ingersoll, LLP
                                1735 Market Street, 51st Floor
                                Philadelphia, Pennsylvania  19103
                                Attention: Gerald J. Guarcini, Esquire
                                Facsimile: 215-864-8999

            14. Other  Security.  To the extent that the  Obligations are now or
hereafter  secured by property  other than the  Intellectual  Property or by the
guarantee,  endorsement  or property of any other person,  firm,  corporation or
other  entity,  then  the  Secured  Party  shall  have  the  right,  in its sole
discretion, to pursue, relinquish,  subordinate, modify or take any other action
with respect  thereto,  without in any way  modifying  or  affecting  any of the
Secured Party's rights and remedies hereunder.

            15. Miscellaneous.

                  (a) No course of dealing  between  the Company and the Secured
Party, nor any failure to exercise, nor any delay in exercising,  on the part of
the  Secured  Party,  any  right,  power or  privilege  hereunder  or under  the
Debentures  shall operate as a waiver  thereof;  nor shall any single or partial
exercise of any right, power or privilege  hereunder or thereunder  preclude any
other or further exercise  thereof or the exercise of any other right,  power or
privilege.

                                       12
<PAGE>

                  (b) All of the rights and  remedies of the Secured  Party with
respect  to the  Intellectual  Property,  whether  established  hereby or by the
Debentures or by any other agreements,  instruments or documents or by law shall
be cumulative and may be exercised singly or concurrently.

                  (c) This Agreement and the Security  Agreement  constitute the
entire agreement of the parties with respect to the subject matter hereof and is
intended to supersede all prior negotiations, understandings and agreements with
respect  thereto.  Except  as  specifically  set  forth  in this  Agreement,  no
provision  of this  Agreement  may be  modified  or amended  except by a written
agreement  specifically  referring to this  Agreement  and signed by the parties
hereto.

                  (d) In the event that any provision of this  Agreement is held
to be invalid,  prohibited or  unenforceable in any jurisdiction for any reason,
unless such  provision  is narrowed by  judicial  construction,  this  Agreement
shall, as to such jurisdiction,  be construed as if such invalid,  prohibited or
unenforceable  provision had been more  narrowly  drawn so as not to be invalid,
prohibited or unenforceable. If, notwithstanding the foregoing, any provision of
this  Agreement  is held  to be  invalid,  prohibited  or  unenforceable  in any
jurisdiction,  such provision, as to such jurisdiction,  shall be ineffective to
the  extent  of  such  invalidity,   prohibition  or  unenforceability   without
invalidating the remaining  portion of such provision or the other provisions of
this  Agreement  and without  affecting the validity or  enforceability  of such
provision or the other provisions of this Agreement in any other jurisdiction.

                  (e) No waiver of any breach or default or any right under this
Agreement  shall be  considered  valid unless in writing and signed by the party
giving  such  waiver,  and no such  waiver  shall  be  deemed  a  waiver  of any
subsequent breach or default or right,  whether of the same or similar nature or
otherwise.

                  (f) This  Agreement  shall be  binding  upon and  inure to the
benefit of each party hereto and its successors and assigns.

                  (g) Each party shall take such further  action and execute and
deliver such further  documents as may be necessary or  appropriate  in order to
carry out the provisions and purposes of this Agreement.

                  (h) This Agreement  shall be construed in accordance  with the
laws of the State of New York, except to the extent the validity,  perfection or
enforcement  of a security  interest  hereunder  in  respect  of any  particular
Intellectual  Property which are governed by a jurisdiction other than the State
of New York in which  case such law shall  govern.  Each of the  parties  hereto
irrevocably submit to the exclusive jurisdiction of any New York State or United
States  Federal court sitting in Manhattan  county over any action or proceeding
arising out of or  relating to this  Agreement,  and the parties  hereto  hereby
irrevocably agree that all claims in respect of such action or proceeding may be
heard and determined in such New York State or Federal court. The parties hereto
agree that a final judgment in any such action or proceeding shall be conclusive
and may be enforced  in other  jurisdictions  by suit on the  judgment or in any
other manner  provided by law. The parties hereto further waive any objection to
venue in the State of New York and any  objection to an action or  proceeding in
the State of New York on the basis of forum non conveniens.

                                       13
<PAGE>

                  (i) EACH PARTY HERETO  HEREBY  AGREES TO WAIVE ITS  RESPECTIVE
RIGHTS TO A JURY TRAIL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT
OF THIS AGREEMENT.  THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL  ENCOMPASSING
OF ANY  DISPUTES  THAT MAY BE FILED IN ANY COURT AND THAT  RELATE TO THE SUBJECT
MATER OF THIS AGREEMENT,  INCLUDING  WITHOUT  LIMITATION  CONTRACT CLAIMS,  TORT
CLAIMS,  BREACH OF DUTY CLAIMS AND ALL OTHER  COMMON LAW AND  STATUTORY  CLAIMS.
EACH PARTY HERETO  ACKNOWLEDGES  THAT THIS WAIVER IS A MATERIAL  INDUCEMENT  FOR
EACH PARTY TO ENTER INTO A BUSINESS  RELATIONSHIP,  THAT EACH PARTY HAS  ALREADY
RELIED ON THIS WAIVER IN ENTERING  INTO THIS  AGREEMENT AND THAT EACH PARTY WILL
CONTINUE TO RELY ON THIS WAIVER IN THEIR  RELATED  FUTURE  DEALINGS.  EACH PARTY
FURTHER  WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL
COUNSEL,  AND THAT SUCH PARTY HAS KNOWINGLY AND VOLUNTARILY WAIVES ITS RIGHTS TO
A JURY TRIAL FOLLOWING SUCH  CONSULTATION.  THIS WAIVER IS IRREVOCABLE,  MEANING
THAT,  NOTWITHSTANDING  ANYTHING HEREIN TO THE CONTRARY,  IT MAY NOT BE MODIFIED
EITHER  ORALLY OR IN  WRITING,  AND THIS WAIVER  SHALL  APPLY TO ANY  SUBSEQUENT
AMENDMENTS,  RENEWALS AND SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT. IN THE
EVENT OF A LITIGATION,  THIS  AGREEMENT  MAY BE FILED AS A WRITTEN  CONSENT TO A
TRIAL BY THE COURT.

                  (j)  This   Agreement   may  be  executed  in  any  number  of
counterparts,  each of which when so executed  shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement. In
the event that any  signature  is  delivered  by  facsimile  transmission,  such
signature shall create a valid binding  obligation of the party executing (or on
whose behalf such signature is executed) the same with the same force and effect
as if such facsimile signature were the original thereof.

                 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       14
<PAGE>

      IN WITNESS  WHEREOF,  the parties  hereto have caused this Agreement to be
duly executed on the day and year first above written.

                                       CENTRAL WIRELESS, INC.

                                       By:      /s/Kenneth W. Brand
                                           -------------------------------------
                                           Kenneth W. Brand
                                           Chief Executive Officer

                                       AJW OFFSHORE, LTD.
                                       By: First Street Manager II, LLC

                                       By:      /s/ Corey S. Ribotsky
                                           -------------------------------------
                                           Corey S. Ribotsky
                                           Manager

                                       AJW QUALIFIED PARTNERS, LLC
                                       By: AJW Manager, LLC

                                       By:      /s/ Corey S. Ribotsky
                                           -------------------------------------
                                           Corey S. Ribotsky
                                           Manager

<PAGE>

                                   SCHEDULE A

Principal Place of Business of the Company:

4333 South Tamiami Trail, Suite E, Sarasota, Florida  34231

Locations Where Intellectual Property is Located or Stored:

None.

List of Subsidiaries of the Company:

None.

                                      A-1
<PAGE>

                                   SCHEDULE B

A.    Licenses, Patents and Patent Licenses

                                                                 Registration or
      Patent       Application or Registration No.     Country   Filing Date

      None.

B.    Trademarks and Trademark Licenses

                                                                 Registration or
      Trademark    Application or Registration No.     Country   Filing Date

      None.

C.    Copyrights and Copyright Licenses

                                                                 Registration or
      Name         Application or Registration No.     Country   Filing Date

      None.

D.    Trade Secrets and Trade Secret Licenses

                                                                 Registration or
      Name         Application or Registration No.     Country   Filing Date

      None.

                                      B-1
<PAGE>

                                   SCHEDULE C

Jurisdictions:

Utah

Florida

                                      C-1

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