Document:

FORBEARANCE AGREEMENT

      THIS FORBEARANCE AGREEMENT ("Agreement"), made and entered into as of the
1st day of December, 2005, by and among Laser Energetics, Inc., an Oklahoma
corporation ("Company") and JOHN T. LiVECCHI (the "Creditor").

                                    RECITALS

      WHEREAS, the Creditor has made or may in the future make, certain loans to
the Company, including loans made by the Creditor to Laser Energetics, Inc., a
Florida corporation (LEI(FL)) in the aggregate outstanding principal amount as
of October 31, 2005 of $285,000.00, which obligations have or will be assumed to
the Company (the "Creditor Obligations"); and

      WHEREAS, Cornell Capital Partners, LP (the "Investor") and the Company are
about to enter into a certain Amended and Restated Securities Purchase Agreement
to be dated on or about November 30, 2005 (the "Purchase Agreement"), pursuant
to which the Company will issue to the Investor a Secured Convertible Debenture
in the original principal amount of approximately $1,200,000.00 (the
"Debenture") (the "Investor Obligations"); and

      WHEREAS, the Creditor has agreed to subordinate the Creditor Obligations
to the Investor Obligations as set forth below.

      A. NOW, THEREFORE, in consideration of the mutual promises and benefits
hereinafter set forth, and of other good and valuable consideration, the
Creditor covenants and agrees that (i) no payments due or to become due on the
Creditor Obligations shall be paid, and no payment on account thereof, and (ii)
Creditor will not exercise any rights or remedies which the Creditor may have in
connection with the Creditor Obligations unless and until the Company has paid
and satisfied in full the Investor Obligations.

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

                                   LASER ENERGETICS, INC., an Oklahoma
                                   corporation

                                   By: /s/ Robert D. Battis
                                       -----------------------------------------
                                       Robert D. Battis, Chief Executive Officer

                                             /s/ John T. Livecchi
                                   ---------------------------------------------
                                                JOHN T. LiVECCHILASER ENERGETICS, INC.

      The undersigned hereby agrees that for a period commencing on December 1,
2005 and expiring on the date that all amounts owed to Cornell Capital Partners,
LP (the "Investor"), or any successors or assigns, under the Secured Convertible
Debentures issued to the Investor pursuant to the Amended and Restated
Securities Purchase Agreement between Laser Energetics, Inc. (the "Company") and
the Investor dated February 13, 2006 have been paid (the "Lock-up Period"), he,
she or it will not, directly or indirectly, without the prior written consent of
the Investor, issue, offer, agree or offer to sell, sell, grant an option for
the purchase or sale of, transfer, pledge, assign, hypothecate, distribute or
otherwise encumber or dispose of any securities of the Company, including common
stock or options, rights, warrants or other securities underlying, convertible
into, exchangeable or exercisable for or evidencing any right to purchase or
subscribe for any common stock (whether or not beneficially owned by the
undersigned), or any beneficial interest therein (collectively, the
"Securities").

      In order to enable the aforesaid covenants to be enforced, the undersigned
hereby consents to the placing of legends and/or stop-transfer orders with the
transfer agent of the Company's securities with respect to any of the Securities
registered in the name of the undersigned or beneficially owned by the
undersigned, and the undersigned hereby confirms the undersigned's investment in
the Company.

Dated: December 1, 2005

                                     Signature

                                     /s/ John T. LiVecchi
                                     -------------------------------------------
                                     Name: John T. LiVecchi
                                     Address: 16211 Crown Arbor Way
                                              ---------------------------------
                                     City, State, Zip Code: Fort Myers, FL 18414
                                                            --------------------

                                     material omitted pursuant to
                                     confidentiality request
                                     -------------------------------------------
                                     Print Social Security Number
                                     or Taxpayer I.D. NumberSUBSCRIBER: JUDITH MAYER

LASER ENERGETICS, INC.
3535 Quakerbridge Road, Suite 601
Mercerville, New Jersey 08619

                             SUBSCRIPTION AGREEMENT

      I, hereby agrees to purchase an aggregate of 602,410 shares of Class A
Common Stock, par value $0.001 per share (the "Shares"), of Laser Energetics,
Inc., an Oklahoma corporation (the "Company"), for an aggregate purchase price
of $50,000.00 (the "Offer"). The offer is part of a private placement offering
(the "Private Placement") by the Company to raise up to an aggregate of
$5,000,000 (the "Maximum Private Placement") at the same purchase price of
$0.083 per Share as in the Offer.

1.    I hereby represent the following:

      (a) I have been given the opportunity to ask questions of and receive
answers from Company management concerning the Company, the Shares and the Offer
and to examine such books, records and other documents of the Company as I have
desired.

      (b) I have sought such legal, accounting, business and tax advice as I
have considered necessary to make an informed investment decision regarding the
Offer.

      (c) I am familiar with the past and proposed activities of the Company,
recognize that the Company has only 6 years of operating history in the business
activities in which it proposes to engage, and realize that an investment in the
Shares involves a high degree of risk.

      (d) I have sufficient knowledge and experience in financial and business
matters to be capable of evaluating the merits and risks of the prospective
investment in the Shares and of making an informed investment decision with
respect thereto.

2.    I hereby acknowledge that, except as set forth in Section 3 below:

      (a) there will be no public market for the Shares;

      (b) it may not be possible to readily liquidate my investment;

      (c) the Shares have not been registered under the Securities Act of 1933
(the "'33 Act") or the applicable State law based on the exemptions from
registration contained in Section 4(2) of the '33 Act or Rule 506 promulgated
thereunder, and the Company is relying in part on the truthfulness of my
respresentations contained herein (including without limitation ss. 4 hereof) in
determining the availability of such exemptions from registration;

                                      -1-
<PAGE>

      (d) The Company does not intend to register the Shares under the '33 Act
or to supply the information required to enable me to make a sale of the Shares
under Rule 144 promulgated under the Act;

      (e) the Shares are subject to restrictions on transferability and resale
and may not be transferred or resold except as permitted under the '33 Act and
applicable State law, pursuant to registration or exemption therefrom; and

      (f) neither the Securities and Exchange Commission nor the securities
commissioner of the applicable State has recommended or endorsed the purchase of
the Shares.

3. Subject to my execution of Lock-up Agreements (as defined below), the Company
agrees to file a registration statement on Form SB-2 covering the re-sale of the
Shares with the Securities and Exchange Commission, if and when the Company
files a registration statement on Form SB-2 covering the re-sale of the shares
of Class A Common Stock of the Company held by iVoice, Inc. Contemporaneously
with the execution of this Subscription Agreement, I agree to execute the
Lock-Up Agreement in the form of Exhibit "A" attached hereto (the "Lock-up
Agreement").

4. I represent and warrant that I am an "Accredited Investor" as defined in Rule
501(a) of Regulation D because (check applicable item):

            |X| My net worth, or the joint net worth of myself and my spouse,
currently exceeds $1,000,000 and will exceed $1,000,000 at the time of purchase
of the Shares;

            |_| My individual pre-tax income (exclusive of my spouse's income)
exceeded $200,000 in each of the last two years, or the joint income of myself
and my spouse exceeded $300,000 in each of the last two years, and I, or my
spouse and I, reasonably expect to reach such an income level in the current
year; or

            |_| The undersigned is a domestic bank, whether acting in its
individual fiduciary capacity; a domestic insurance company; an investment
company registered under the Investment Company Act of 1940 (the "1940 Act"), or
business development company as defined in the 1940 Act; a Small Business
Investment Company licensed by the U.S. Small Business Administration; an
employee benefit plan within the meaning of Title 1 of the Employee Retirement
Income Security Act of 1974, if the investment decision is made by a plan
fiduciary which is either a bank, savings and loan association, insurance
company, or registered investment advisor, or if the employee benefit plan has
total assets in excess of $5,000,000, or if a self-directed plan, with
investment decisions made solely by persons that meet the qualifications of (a)
above, a private business development company as defined in Section 202(a)(22)
of the Investment Advisors Act of 1940; an entity described in Section 501(c)(3)
of the Internal Revenue Code, not formed for the purpose of acquiring the
securities offered, with total assets in excess of $5,000,000; or a trust, with
total assets in excess of $5,000,000, not formed for the specific purpose of
acquiring the securities offered, whose purchase is directed by a sophisticated
person.

                                      -2-
<PAGE>

5. I am a legal resident of the state listed as my "Mailing Address" on the
signature page of this Subscription Agreement.

6. I am acquiring the Shares purely for investment purposes for my own account
and not for resale or distribution, and I have not entered into any other
agreement, understanding, commitment or other arrangement with any person
regarding transfer of the Shares.

7. I will promptly execute such other instruments or documents as the Company's
management may reasonably require in connection with a purchase of the Shares,
and I will promptly provide all personal and financial information which the
Company's management deems necessary or appropriate in connection with a
purchase of the Shares.

8. I understand that this Offer has not been reviewed by the Securities and
Exchange Commission or the securities regulatory authorities of the applicable
State. All documents, records and books pertaining to this investment have been
made available for inspection by me and my attorneys, accountants, business
advisors and tax advisors, and I understand that the books and records of the
Company will be available for inspection by investors and their advisors.

9. This Subscription Agreement shall be governed by and construed in accordance
with the laws of the State of New York.

10. The provisions of this Subscription Agreement may not be modified or waived
except in writing signed by me and the Company.

11. I understand that there are 107,892,827 shares of Class A Common Stock and
3,025,000 shares of Class B Common Stock issued and outstanding immediately
prior to the Private Placement, and there could be up to an additional
60,240,964 shares of Class A Common Stock outstanding assuming the completion of
the Maximum Private Placement. I acknowledge that as a shareholder of the
Company I will not have any preemptive rights with regard to additional
securities to be issued by the Company and that accordingly my proportional
share of the outstanding shares of the Common Stock will decrease following each
new issuance of Common Stock by the Company.

12. I have not and will not rely on any representations or warranties other than
those contained herein.

13. This Subscription Agreement contains the entire agreement between the
parties. Provisions of this Subscription Agreement may not be modified or
waived, except in a writing signed by both parties.

                                      -3-
<PAGE>

      IN WITNESS WHEREOF, the undersigned have executed this Subscription
Agreement as of the 12 day of Dec, 2005.

                                    Signature of Subscriber

                                    /s/ Judith D. Mayer
                                    --------------------------------------------

                                    Print name: JUDITH D. MAYER
                                                --------------------------------

                                    material omitted pursuant to
                                    --------------------------------------------
                                    Street Address

                                    confidentiality request
                                    --------------------------------------------
                                    City, State, Zip Code

                                    --------------------------------------------
                                    Telephone Number

                                    --------------------------------------------
                                    Social Security or Tax Identification Number

Subscription accepted and agreed to:
LASER ENERGETICS, INC.

By: /s/ Robert D. Battis
    --------------------------------
    Robert D. Battis
    President/CEO

                                      -4-

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