Document:

Exhibit 10.1

                          SECURITIES PURCHASE AGREEMENT

     SECURITIES PURCHASE AGREEMENT (this "AGREEMENT"), dated as of May 18, 2006,
by  and  between  The  World  Golf  League,  Inc.,  a Delaware corporation, with
headquarters  located  at  258  East Altamonte Drive, Altamonte Springs, Florida
32701  (the  "COMPANY"),  and  DLC  Capital  Group,  LLC  (the  "BUYER").

WHEREAS:

     A. The Company and the Buyer are executing and delivering this Agreement in
reliance  upon  the exemption from securities registration afforded by the rules
and  regulations  as  promulgated  by  the United States Securities and Exchange
Commission  (the  "SEC") under the Securities Act of 1933, as amended (the "1933
Act");

     B.  Buyer  desires  to  purchase and the Company desires to issue and sell,
upon  the  terms and conditions set forth in this Agreement convertible notes of
the  Company,  in  the  form  attached  hereto  as EXHIBIT "A", in the aggregate
principal  amount of Four Hundred Thousand Dollars ($400,000) (together with any
note(s) issued in replacement thereof or as a dividend thereon or otherwise with
respect  thereto in accordance with the terms thereof, the "NOTES"), convertible
into  shares  of  common  stock,  par value $.001 per share, of the Company (the
"COMMON  STOCK"),  upon  the terms and subject to the limitations and conditions
set  forth  in  such  Notes and warrants, in the form attached hereto as EXHIBIT
"B",  to  purchase  700,000,000  shares  of  Common  Stock  (the  "WARRANTS").

     C.  The  Buyer  wishes to purchase, upon the terms and conditions stated in
this  Agreement,  the  Notes  and  Warrants;  and

     D.  Contemporaneous  with the execution and delivery of this Agreement, the
parties  hereto are executing and delivering a Registration Rights Agreement, in
the  form  attached hereto as EXHIBIT "C" (the "REGISTRATION RIGHTS AGREEMENT"),
pursuant  to which the Company has agreed to provide certain registration rights
under  the  1933  Act  and the rules and regulations promulgated thereunder, and
applicable  state  securities  laws.

     NOW THEREFORE, the Company and the Buyer severally and jointly hereby agree
as  follows:

          1.   PURCHASE  AND  SALE  OF  NOTES  AND  WARRANTS.
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               A.  PURCHASE  OF  NOTES  AND  WARRANTS.  On  the Closing Date (as
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          defined  below), the Company shall issue and sell to the Buyer and the
          Buyer  agrees  to  purchase  from  the Company the Notes and Warrants.

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               B.  FORM  OF PAYMENT. On the Closing Date (as defined below), the
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          Buyer  shall  pay the purchase price for the Notes and the Warrants to
          be  issued  and  sold  to  it  at  the Closing (as defined below) (the
          "PURCHASE  PRICE")  by wire transfer of immediately available funds to
          the  Company,  in  accordance  with  the  Company's  written  wiring
          instructions,  against  delivery  of the Notes in the principal amount
          equal  to  the  Purchase Price and the Warrants, and the Company shall
          deliver  such  Notes  and  Warrants  duly  executed  on  behalf of the
          Company,  to  the  Buyer,  against  delivery  of  such Purchase Price.

               C.  CLOSING DATE. Subject to the satisfaction (or written waiver)
                   ------------
          of  the conditions thereto set forth in Section 6 and Section 7 below,
          the  date  and  time  of  the  issuance  and sale of the Notes and the
          Warrants  pursuant  to  this  Agreement  (the "CLOSING DATE") shall be
          12:00  noon,  Eastern  Standard  Time  on  May 11, 2006, or such other
          mutually  agreed  upon  time.  The  closing  of  the  transactions
          contemplated  by  this  Agreement  (the  "CLOSING") shall occur on the
          Closing  Date  at  such  location  as may be agreed to by the parties.

          2.  BUYER'S  REPRESENTATIONS  AND WARRANTIES. The Buyer represents and
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     warrants  to  the  Company  that:

               A.  INVESTMENT  PURPOSE.  As  of  the  date  hereof, the Buyer is
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          purchasing  the  Notes  and  the  shares of Common Stock issuable upon
          conversion  of  or otherwise pursuant to the Notes (including, without
          limitation,  such  additional  shares  of Common Stock, if any, as are
          issuable  on  account  of  interest  on  the Notes, as a result of the
          events  described  in Sections 1.3 and 1.4(g) of the Notes and Section
          2(c)  of  the  Registration  Rights  Agreement  or  in  payment of the
          Standard  Liquidated Damages Amount (as defined in Section 2(f) below)
          pursuant  to  this  Agreement,  such  shares  of  Common  Stock  being
          collectively  referred  to  herein as the "CONVERSION SHARES") and the
          Warrants and the shares of Common Stock issuable upon exercise thereof
          (the  "WARRANT  SHARES" and, collectively with the Notes, Warrants and
          Conversion  Shares, the "SECURITIES") for its own account and not with
          a present view towards the public sale or distribution thereof, except
          pursuant  to  sales registered or exempted from registration under the
          1933  Act;  provided,  however,  that  by  making  the representations
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          herein, the Buyer does not agree to hold any of the Securities for any
          minimum  or  other  specific term and reserves the right to dispose of
          the  Securities  at  any  time  in  accordance  with  or pursuant to a
          registration  statement  or  an  exemption  under  the  1933  Act.

               B.  ACCREDITED  INVESTOR  STATUS.  The  Buyer  is  an "accredited
                   ----------------------------
          investor"  as  that term is defined in Rule 501(a) of Regulation D (an
          "ACCREDITED  INVESTOR").

               C.  RELIANCE  ON  EXEMPTIONS.  The  Buyer  understands  that  the
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          Securities  are being offered and sold to it in reliance upon specific
          exemptions from the registration requirements of United States federal
          and  state  securities  laws  and that the Company is relying upon the
          truth  and  accuracy  of,  and  the  Buyer's  compliance  with,  the
          representations,  warranties,  agreements,  acknowledgments  and
          understandings of the Buyer set forth herein in order to determine the
          availability  of  such  exemptions and the eligibility of the Buyer to
          acquire  the  Securities.

               D.  INFORMATION.  The  Buyer and its advisors, if any, have been,
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          and  for  so  long  as  the Notes and Warrants remain outstanding will
          continue to be, furnished with all materials relating to the business,

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          finances  and  operations of the Company and materials relating to the
          offer  and  sale  of  the  Securities which have been requested by the
          Buyer  or its advisors. The Buyer and its advisors, if any, have been,
          and  for  so  long  as  the Notes and Warrants remain outstanding will
          continue  to  be,  afforded  the  opportunity  to ask questions of the
          Company.  Notwithstanding the foregoing, the Company has not disclosed
          to  the Buyer any material nonpublic information and will not disclose
          such  information  unless  such information is disclosed to the public
          prior  to  or promptly following such disclosure to the Buyer. Neither
          such  inquiries nor any other due diligence investigation conducted by
          Buyer or any of its advisors or representatives shall modify, amend or
          affect  Buyer's  right  to  rely  on the Company's representations and
          warranties  contained  in  Section 3 below. The Buyer understands that
          its  investment  in  the  Securities  involves a significant degree of
          risk.

               E.  GOVERNMENTAL  REVIEW.  The  Buyer  understands that no United
                   --------------------
          States federal or state agency or any other government or governmental
          agency  has  passed  upon or made any recommendation or endorsement of
          the  Securities.

               F.  TRANSFER  OR  RE-SALE.  The  Buyer understands that except as
                   ---------------------
          provided  in the Registration Rights Agreement, the sale or re-sale of
          the Securities has not been and is not being registered under the 1933
          Act  or  any  applicable state securities laws, and the Securities may
          not  be  transferred  unless  the  Securities  are sold pursuant to an
          effective  registration  statement under the 1933 Act, the Buyer shall
          have  delivered  to the Company an opinion of counsel that shall be in
          form,  substance  and  scope  customary  for  opinions  of  counsel in
          comparable  transactions  to the effect that the Securities to be sold
          or  transferred  may  be  sold or transferred pursuant to an exemption
          from  such  registration,  which  opinion  shall  be  accepted  by the
          Company,  the Securities are sold or transferred to an "affiliate" (as
          defined  in  Rule  144  promulgated under the 1933 Act (or a successor
          rule)  ("RULE  144"))  of  the  Buyer  who agrees to sell or otherwise
          transfer  the Securities only in accordance with this Section 2(f) and
          who  is  an  Accredited  Investor, the Securities are sold pursuant to
          Rule  144,  or  the Securities are sold pursuant to Regulation S under
          the  1933  Act  (or  a successor rule) ("REGULATION S"), and the Buyer
          shall  have  delivered to the Company an opinion of counsel that shall
          be  in  form, substance and scope customary for opinions of counsel in
          corporate  transactions,  which  opinion  shall  be  accepted  by  the
          Company; (ii) any sale of such Securities made in reliance on Rule 144
          may  be  made  only  in  accordance  with  the  terms of said Rule and
          further,  if  said  Rule  is  not  applicable,  any  re-sale  of  such
          Securities  under  circumstances  in  which  the seller (or the person
          through  whom the sale is made) may be deemed to be an underwriter (as
          that term is defined in the 1933 Act) may require compliance with some
          other exemption under the 1933 Act or the rules and regulations of the
          SEC  thereunder; and (iii) neither the Company nor any other person is
          under any obligation to register such Securities under the 1933 Act or
          any  state  securities laws or to comply with the terms and conditions
          of  any exemption thereunder (in each case, other than pursuant to the
          Registration  Rights  Agreement).  Notwithstanding  the  foregoing  or
          anything  else contained herein to the contrary, the Securities may be
          pledged as collateral in connection with a bona fide margin account or
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          other  lending  arrangement.  In  the  event that the Company does not
          accept  the  opinion  of counsel provided by the Buyer with respect to
          the transfer of Securities pursuant to an exemption from registration,
          such  as  Rule  144 or Regulation S, within three (3) business days of
          delivery  of  the opinion to the Company, the Company shall pay to the
          Buyer  liquidated  damages  of  three  percent (3%) of the outstanding

<PAGE>

          amount  of the Notes per month plus accrued and unpaid interest on the
          Notes, prorated for partial months, in cash or shares at the option of
          the  Company  ("STANDARD  LIQUIDATED  DAMAGES AMOUNT"). If the Company
          elects  to  be pay the Standard Liquidated Damages Amount in shares of
          Common  Stock,  such shares shall be issued at the Conversion Price at
          the  time  of  payment.

               G. LEGENDS. The Buyer understands that the Notes and the Warrants
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          and,  until such time as the Conversion Shares and Warrant Shares have
          been registered under the 1933 Act as contemplated by the Registration
          Rights  Agreement  or  otherwise  may  be sold pursuant to Rule 144 or
          Regulation S without any restriction as to the number of securities as
          of a particular date that can then be immediately sold, the Conversion
          Shares  and  Warrant  Shares  may  bear  a  restrictive  legend  in
          substantially  the  following  form  (and a stop-transfer order may be
          placed  against  transfer  of  the  certificates for such Securities):

               "The  securities  represented  by  this  certificate  have  not
               been registered under the Securities Act of 1933, as amended. The
               securities  may  not  be  sold,  transferred  or  assigned in the
               absence of an effective registration statement for the securities
               under  said Act, or an opinion of counsel, in form, substance and
               scope  customary  for  opinions  of  counsel  in  comparable
               transactions, that registration is not required under said Act or
               unless sold pursuant to Rule 144 or Regulation S under said Act."

          The  legend  set  forth  above  shall be removed and the Company shall
     issue  a certificate without such legend to the holder of any Security upon
     which  it  is  stamped,  if,  unless otherwise required by applicable state
     securities  laws,  (a)  such  Security  is  registered  for  sale  under an
     effective  registration statement filed under the 1933 Act or otherwise may
     be  sold pursuant to Rule 144 or Regulation S without any restriction as to
     the  number  of  securities  as  of  a  particular  date  that  can then be
     immediately  sold,  or (b) such holder provides the Company with an opinion
     of  counsel, in form, substance and scope customary for opinions of counsel
     in comparable transactions, to the effect that a public sale or transfer of
     such  Security  may  be made without registration under the 1933 Act, which
     opinion  shall  be  accepted by the Company so that the sale or transfer is
     effected or (c) such holder provides the Company with reasonable assurances
     that  such  Security  can be sold pursuant to Rule 144 or Regulation S. The
     Buyer  agrees  to  sell  all  Securities,  including those represented by a
     certificate(s)  from  which the legend has been removed, in compliance with
     applicable  prospectus  delivery  requirements,  if  any.

               H.  AUTHORIZATION;  ENFORCEMENT.  This  Agreement  and  the
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          Registration  Rights  Agreement have been duly and validly authorized.
          This  Agreement  has been duly executed and delivered on behalf of the
          Buyer, and this Agreement constitutes, and upon execution and delivery
          by the Buyer of the Registration Rights Agreement, such agreement will
          constitute,  valid  and binding agreements of the Buyer enforceable in
          accordance  with  their  terms.

               I. RESIDENCY. The Buyer is a resident of the state of New Jersey.
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          3.  REPRESENTATIONS  AND  WARRANTIES  OF  THE  COMPANY.  The  Company
              --------------------------------------------------
     represents and  warrants  to  the  Buyer  that:

               A.  ORGANIZATION  AND  QUALIFICATION. The Company and each of its
                   --------------------------------
          Subsidiaries  (as  defined  below),  if  any,  is  a  corporation duly
          organized, validly existing and in good standing under the laws of the
          jurisdiction  in  which  it  is  incorporated,  with  full  power  and
          authority  (corporate  and  other)  to own, lease, use and operate its
          properties  and  to  carry  on  its  business  as and where now owned,
          leased,  used, operated and conducted. SCHEDULE 3(A) sets forth a list
          of  all  of  the  Subsidiaries  of the Company and the jurisdiction in
          which  each  is incorporated. The Company and each of its Subsidiaries
          is  duly  qualified  as a foreign corporation to do business and is in
          good  standing  in every jurisdiction in which its ownership or use of
          property  or  the  nature  of  the business conducted by it makes such
          qualification necessary except where the failure to be so qualified or
          in  good  standing would not have a Material Adverse Effect. "MATERIAL
          ADVERSE  EFFECT"  means  any  material adverse effect on the business,
          operations, assets, financial condition or prospects of the Company or
          its  Subsidiaries,  if  any,  taken as a whole, or on the transactions
          contemplated  hereby or by the agreements or instruments to be entered
          into  in  connection herewith. "SUBSIDIARIES" means any corporation or
          other  organization,  whether incorporated or unincorporated, in which
          the  Company  owns,  directly  or  indirectly,  any  equity  or  other
          ownership  interest.

               B.  AUTHORIZATION; ENFORCEMENT. (i) The Company has all requisite
                   --------------------------
          corporate  power  and  authority  to  enter  into  and  perform  this
          Agreement,  the  Registration  Rights  Agreement,  the  Notes  and the
          Warrants  and  to  consummate the transactions contemplated hereby and
          thereby  and  to  issue  the  Securities, in accordance with the terms
          hereof and thereof, (ii) the execution and delivery of this Agreement,
          the  Registration  Rights Agreement, the Notes and the Warrants by the
          Company  and  the  consummation by it of the transactions contemplated
          hereby  and thereby (including without limitation, the issuance of the
          Notes  and  the Warrants and the issuance and reservation for issuance
          of  the  Conversion Shares and Warrant Shares issuable upon conversion
          or  exercise thereof) have been duly authorized by the Company's Board
          of  Directors  and no further consent or authorization of the Company,
          its  Board  of  Directors, or its shareholders is required, (iii) this
          Agreement  has  been duly executed and delivered by the Company by its
          authorized  representative,  and such authorized representative is the
          true and official representative with authority to sign this Agreement
          and  the  other documents executed in connection herewith and bind the
          Company  accordingly,  and  (iv)  this Agreement constitutes, and upon
          execution  and  delivery  by  the  Company  of the Registration Rights
          Agreement,  the  Notes and the Warrants, each of such instruments will
          constitute,  a  legal,  valid  and  binding  obligation of the Company
          enforceable  against  the  Company  in  accordance  with  its  terms.

               C.  CAPITALIZATION. As of the date hereof, the authorized capital
                   --------------
          stock  of  the  Company consists of (i) 2,500,000,000 shares of Common
          Stock,  $0.001 par value, of which 2,408,594,293 shares are issued and
          outstanding,  2,290,945  shares  are reserved for issuance pursuant to
          the  Company's  stock option plans, 0 shares are reserved for issuance
          pursuant  to  securities  (other  than  the  Notes  and  the Warrants)
          exercisable  for,  or  convertible  into or exchangeable for shares of
          Common  Stock  and  4,740,000,000  shares  are or will be reserved for
          issuance  upon  conversion  of  the Notes and the Additional Notes (as
          defined  in  Section  4(l))  and  exercise  of  the  Warrants  and the
          Additional  Warrants  (as  defined  in  Section  4(l))  (subject  to
          adjustment  pursuant  to  the  Company's covenant set forth in Section
          4(h)  below);  and (ii) 10,000,000 shares of preferred stock $0.05 par

<PAGE>

          value,  of  which  5,000,000 shares are issued and outstanding. All of
          such  outstanding  shares  of capital stock are, or upon issuance will
          be,  duly authorized, validly issued, fully paid and nonassessable. No
          shares  of  capital  stock  of  the  Company are subject to preemptive
          rights  or any other similar rights of the shareholders of the Company
          or any liens or encumbrances imposed through the actions or failure to
          act  of  the  Company. Except as disclosed in SCHEDULE 3(C), as of the
          effective  date  of  this  Agreement,  (i)  there  are  no outstanding
          options, warrants, scrip, rights to subscribe for, puts, calls, rights
          of  first  refusal,  agreements,  understandings,  claims  or  other
          commitments  or  rights  of  any  character whatsoever relating to, or
          securities  or  rights convertible into or exchangeable for any shares
          of  capital  stock  of  the  Company  or  any  of its Subsidiaries, or
          arrangements by which the Company or any of its Subsidiaries is or may
          become  bound  to  issue  additional  shares  of  capital stock of the
          Company  or  any  of its Subsidiaries, (ii) there are no agreements or
          arrangements  under  which  the  Company or any of its Subsidiaries is
          obligated to register the sale of any of its or their securities under
          the  1933  Act  (except  the  Registration Rights Agreement) and (iii)
          there are no anti-dilution or price adjustment provisions contained in
          any  security  issued  by  the  Company (or in any agreement providing
          rights  to security holders) that will be triggered by the issuance of
          the  Notes, the Warrants, the Conversion Shares or Warrant Shares. The
          Company  has  furnished  to  the  Buyer true and correct copies of the
          Company's Certificate of Incorporation as in effect on the date hereof
          ("CERTIFICATE  OF INCORPORATION"), the Company's By-laws, as in effect
          on  the  date  hereof (the "BY-LAWS"), and the terms of all securities
          convertible  into  or  exercisable for Common Stock of the Company and
          the  material  rights  of  the holders thereof in respect thereto. The
          Company  shall  provide  the  Buyer  with  a  written  update  of this
          representation  signed  by  the  Company's  Chief  Executive  or Chief
          Financial  Officer  on  behalf  of the Company as of the Closing Date.

               D.  ISSUANCE  OF  SHARES.  Subject  to  Stockholder  Approval (as
                   --------------------
          defined in Section 4(o)), the Conversion Shares and Warrant Shares are
          duly  authorized and reserved for issuance and, upon conversion of the
          Notes and exercise of the Warrants in accordance with their respective
          terms, will be validly issued, fully paid and non-assessable, and free
          from  all  taxes,  liens,  claims and encumbrances with respect to the
          issue  thereof  and shall not be subject to preemptive rights or other
          similar  rights  of  shareholders  of  the Company and will not impose
          personal  liability  upon  the  holder  thereof.

               E.  ACKNOWLEDGMENT  OF  DILUTION.  The  Company  understands  and
                   ----------------------------
          acknowledges  the potentially dilutive effect to the Common Stock upon
          the  issuance  of  the  Conversion  Shares  and  Warrant  Shares  upon
          conversion  of  the  Note  or  exercise  of  the Warrants. The Company
          further  acknowledges  that  its obligation to issue Conversion Shares
          and  Warrant  Shares  upon  conversion of the Notes or exercise of the
          Warrants in accordance with this Agreement, the Notes and the Warrants
          is  absolute  and unconditional regardless of the dilutive effect that
          such  issuance  may  have  on  the  ownership  interests  of  other
          shareholders  of  the  Company.

               F.  NO CONFLICTS. Subject to Stockholder Approval, the execution,
                   ------------
          delivery  and  performance  of this Agreement, the Registration Rights
          Agreement,  the  Notes  and  the  Warrants  by  the  Company  and  the
          consummation  by  the  Company of the transactions contemplated hereby
          and  thereby  (including,  without  limitation,  the  issuance  and
          reservation  for issuance of the Conversion Shares and Warrant Shares)
          will  not  (i) conflict with or result in a violation of any provision

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          of  the  Articles  of  Incorporation  or  By-laws  or  (ii) violate or
          conflict  with,  or  result  in  a  breach  of  any  provision  of, or
          constitute  a  default (or an event which with notice or lapse of time
          or both could become a default) under, or give to others any rights of
          termination,  amendment,  acceleration  or  cancellation  of,  any
          agreement,  indenture,  patent,  patent license or instrument to which
          the  Company or any of its Subsidiaries is a party, or (iii) result in
          a  violation  of  any law, rule, regulation, order, judgment or decree
          (including  federal  and  state  securities  laws  and regulations and
          regulations  of any self-regulatory organizations to which the Company
          or its securities are subject) applicable to the Company or any of its
          Subsidiaries  or  by which any property or asset of the Company or any
          of  its  Subsidiaries is bound or affected (except for such conflicts,
          defaults,  terminations,  amendments, accelerations, cancellations and
          violations  as  would  not,  individually  or in the aggregate, have a
          Material  Adverse  Effect).  Neither  the  Company  nor  any  of  its
          Subsidiaries is in violation of its Articles of Incorporation, By-laws
          or  other  organizational documents and neither the Company nor any of
          its  Subsidiaries  is in default (and no event has occurred which with
          notice  or  lapse  of time or both could put the Company or any of its
          Subsidiaries in default) under, and neither the Company nor any of its
          Subsidiaries  has  taken  any action or failed to take any action that
          would  give  to  others  any  rights  of  termination,  amendment,
          acceleration  or  cancellation  of,  any  agreement,  indenture  or
          instrument  to which the Company or any of its Subsidiaries is a party
          or  by  which  any  property  or  assets  of the Company or any of its
          Subsidiaries  is  bound  or  affected, except for possible defaults as
          would  not,  individually or in the aggregate, have a Material Adverse
          Effect.  The  businesses  of the Company and its Subsidiaries, if any,
          are  not  being  conducted,  and shall not be conducted so long as the
          Buyer  owns  any of the Securities, in violation of any law, ordinance
          or  regulation  of  any  governmental  entity.  Except as specifically
          contemplated  by this Agreement and as required under the 1933 Act and
          any  applicable  state securities laws, the Company is not required to
          obtain  any  consent, authorization or order of, or make any filing or
          registration  with, any court, governmental agency, regulatory agency,
          self  regulatory  organization  or  stock market or any third party in
          order  for  it  to  execute, deliver or perform any of its obligations
          under  this Agreement, the Registration Rights Agreement, the Notes or
          the  Warrants  in  accordance  with  the terms hereof or thereof or to
          issue  and  sell  the  Notes and Warrants in accordance with the terms
          hereof and to issue the Conversion Shares upon conversion of the Notes
          and  the  Warrant  Shares  upon  exercise  of  the Warrants. Except as
          disclosed  in  SCHEDULE  3(F),  all  consents, authorizations, orders,
          filings  and  registrations  which  the  Company is required to obtain
          pursuant  to  the preceding sentence have been obtained or effected on
          or  prior  to  the date hereof. The Company is not in violation of the
          listing  requirements  of  the  Over-the-Counter  Bulletin  Board (the
          "OTCBB") and does not reasonably anticipate that the Common Stock will
          be  delisted  by  the OTCBB in the foreseeable future. The Company and
          its Subsidiaries are unaware of any facts or circumstances which might
          give  rise  to  any  of  the  foregoing.

               G.  SEC  DOCUMENTS;  FINANCIAL STATEMENTS. Except as disclosed in
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          SCHEDULE  3(G),  the  Company has timely filed all reports, schedules,
          forms,  statements and other documents required to be filed by it with
          the  SEC  pursuant  to  the  reporting  requirements of the Securities
          Exchange  Act  of  1934,  as  amended  (the  "1934  ACT")  (all of the
          foregoing  filed  prior  to  the date hereof and all exhibits included
          therein  and  financial statements and schedules thereto and documents
          (other  than  exhibits  to  such  documents) incorporated by reference
          therein, being hereinafter referred to herein as the "SEC DOCUMENTS").
          The Company has delivered to THE Buyer true and complete copies of the
          SEC Documents, except for such exhibits and incorporated documents. As

<PAGE>

          of  their respective dates, the SEC Documents complied in all material
          respects  with  the  requirements  of  the  1934 Act and the rules and
          regulations  of  the  SEC promulgated thereunder applicable to the SEC
          Documents,  and none of the SEC Documents, at the time they were filed
          with  the  SEC,  contained  any untrue statement of a material fact or
          omitted  to  state  a  material  fact required to be stated therein or
          necessary  in  order  to  make the statements therein, in light of the
          circumstances  under which they were made, not misleading. None of the
          statements made in any such SEC Documents is, or has been, required to
          be amended or updated under applicable law (except for such statements
          as  have  been amended or updated in subsequent filings prior the date
          hereof). As of their respective dates, the financial statements of the
          Company  included  in  the  SEC  Documents  complied as to form in all
          material  respects  with  applicable  accounting  requirements and the
          published  rules and regulations of the SEC with respect thereto. Such
          financial  statements  have  been  prepared  in accordance with United
          States generally accepted accounting principles, consistently applied,
          during  the periods involved (except (i) as may be otherwise indicated
          in such financial statements or the notes thereto, or (ii) in the case
          of  unaudited  interim  statements, to the extent they may not include
          footnotes  or  may  be  condensed  or  summary  statements) and fairly
          present  in  all material respects the consolidated financial position
          of  the  Company  and  its  consolidated  Subsidiaries as of the dates
          thereof  and  the  consolidated  results  of their operations and cash
          flows  for  the  periods then ended (subject, in the case of unaudited
          statements, to normal year-end audit adjustments). Except as set forth
          in  the  financial  statements  of  the  Company  included  in the SEC
          Documents,  the  Company  has no liabilities, contingent or otherwise,
          other than (i) liabilities incurred in the ordinary course of business
          subsequent  to  December 31, 2005 and (ii) obligations under contracts
          and  commitments  incurred  in the ordinary course of business and not
          required  under  generally  accepted  accounting  principles  to  be
          reflected  in such financial statements, which, individually or in the
          aggregate,  are  not  material to the financial condition or operating
          results  of  the  Company.

               H. ABSENCE OF CERTAIN CHANGES. Since December 31, 2005, there has
                  --------------------------
          been no material adverse change and no material adverse development in
          the  assets,  liabilities, business, properties, operations, financial
          condition, results of operations or prospects of the Company or any of
          its  Subsidiaries.

               I.  ABSENCE  OF  LITIGATION.  There  is  no  action, suit, claim,
                   -----------------------
          proceeding,  inquiry  or  investigation before or by any court, public
          board, government agency, self-regulatory organization or body pending
          or,  to  the  knowledge  of  the  Company  or any of its Subsidiaries,
          threatened  against  or  affecting  the  Company  or  any  of  its
          Subsidiaries,  or  their  officers  or  directors in their capacity as
          such,  that  could  have  a  Material  Adverse  Effect.  SCHEDULE 3(I)
          contains  a  complete  list  and summary description of any pending or
          threatened  proceeding  against or affecting the Company or any of its
          Subsidiaries,  without  regard  to  whether  it  would have a Material
          Adverse  Effect.  The  Company and its Subsidiaries are unaware of any
          facts  or circumstances which might give rise to any of the foregoing.

               J.  PATENTS,  COPYRIGHTS,  ETC.  The  Company  and  each  of  its
                   --------------------------
          Subsidiaries owns or possesses the requisite licenses or rights to use
          all patents, patent applications, patent rights, inventions, know-how,
          trade  secrets,  trademarks,  trademark  applications,  service marks,
          service  names,  trade  names and copyrights ("INTELLECTUAL PROPERTY")
          necessary  to  enable it to conduct its business as now operated (and,
          except  as  set  forth  in  SCHEDULE  3(J)  hereof, to the best of the

<PAGE>

          Company's  knowledge,  as presently contemplated to be operated in the
          future);  there  is no claim or action by any person pertaining to, or
          proceeding  pending,  or  to the Company's knowledge threatened, which
          challenges the right of the Company or of a Subsidiary with respect to
          any  Intellectual  Property  necessary  to  enable  it  to conduct its
          business  as  now  operated (and, except as set forth in SCHEDULE 3(J)
          hereof,  to  the  best  of  the  Company's  knowledge,  as  presently
          contemplated  to  be  operated  in  the  future);  to  the best of the
          Company's  knowledge,  the  Company's or its Subsidiaries' current and
          intended  products,  services  and  processes  do  not infringe on any
          Intellectual  Property  or  other  rights  held by any person; and the
          Company is unaware of any facts or circumstances which might give rise
          to any of the foregoing. The Company and each of its Subsidiaries have
          taken  reasonable  security  measures  to  protect  the  secrecy,
          confidentiality  and  value  of  their  Intellectual  Property.

               K.  NO MATERIALLY ADVERSE CONTRACTS, ETC. Neither the Company nor
                   ------------------------------------
          any  of its Subsidiaries is subject to any charter, corporate or other
          legal  restriction, or any judgment, decree, order, rule or regulation
          which  in the judgment of the Company's officers has or is expected in
          the  future to have a Material Adverse Effect. Neither the Company nor
          any  of its Subsidiaries is a party to any contract or agreement which
          in the judgment of the Company's officers has or is expected to have a
          Material  Adverse  Effect.

               L.  TAX STATUS. Except as set forth on SCHEDULE 3(L), the Company
                   ----------
          and  each of its Subsidiaries has made or filed all federal, state and
          foreign  income  and  all  other tax returns, reports and declarations
          required  by  any jurisdiction to which it is subject (unless and only
          to  the  extent  that the Company and each of its Subsidiaries has set
          aside  on  its books provisions reasonably adequate for the payment of
          all  unpaid  and  unreported  taxes)  and has paid all taxes and other
          governmental  assessments  and  charges  that  are material in amount,
          shown  or  determined  to  be  due  on  such  returns,  reports  and
          declarations,  except  those being contested in good faith and has set
          aside  on  its books provisions reasonably adequate for the payment of
          all taxes for periods subsequent to the periods to which such returns,
          reports  or  declarations  apply.  There  are  no  unpaid taxes in any
          material  amount  claimed  to  be  due  by the taxing authority of any
          jurisdiction, and the officers of the Company know of no basis for any
          such  claim. The Company has not executed a waiver with respect to the
          statute of limitations relating to the assessment or collection of any
          foreign,  federal, state or local tax. Except as set forth on SCHEDULE
          3(L),  none of the Company's tax returns is presently being audited by
          any  taxing  authority.

               M. CERTAIN TRANSACTIONS. Except as set forth on SCHEDULE 3(M) and
                  --------------------
          except  for arm's length transactions pursuant to which the Company or
          any  of  its  Subsidiaries  makes  payments  in the ordinary course of
          business  upon  terms no less favorable than the Company or any of its
          Subsidiaries  could obtain from third parties and other than the grant
          of  stock  options  disclosed  on SCHEDULE 3(C), none of the officers,
          directors,  or  employees  of  the Company is presently a party to any
          transaction  with  the  Company or any of its Subsidiaries (other than
          for  services  as  employees,  officers  and directors), including any
          contract,  agreement or other arrangement providing for the furnishing
          of  services  to  or  by,  providing  for  rental  of real or personal
          property  to  or  from, or otherwise requiring payments to or from any
          officer,  director  or  such  employee  or,  to  the  knowledge of the
          Company,  any corporation, partnership, trust or other entity in which
          any officer, director, or any such employee has a substantial interest
          or  is  an  officer,  director,  trustee  or  partner.

<PAGE>

               N.  DISCLOSURE.  All  information  relating  to or concerning the
                   ----------
          Company  or  any  of  its Subsidiaries set forth in this Agreement and
          provided to the Buyer pursuant to Section 2(d) hereof and otherwise in
          connection  with  the  transactions  contemplated  hereby  is true and
          correct  in  all  material respects and the Company has not omitted to
          state any material fact necessary in order to make the statements made
          herein or therein, in light of the circumstances under which they were
          made,  not misleading. No event or circumstance has occurred or exists
          with respect to the Company or any of its Subsidiaries or its or their
          business,  properties,  prospects, operations or financial conditions,
          which,  under  applicable  law,  rule  or  regulation, requires public
          disclosure  or  announcement  by the Company but which has not been so
          publicly  announced  or  disclosed (assuming for this purpose that the
          Company's reports filed under the 1934 Act are being incorporated into
          an  effective  registration  statement  filed by the Company under the
          1933  Act).

               O.  ACKNOWLEDGMENT  REGARDING BUYER'S PURCHASE OF SECURITIES. The
                   --------------------------------------------------------
          Company acknowledges and agrees that the Buyer is acting solely in the
          capacity of arm's length purchasers with respect to this Agreement and
          the transactions contemplated hereby. The Company further acknowledges
          that  the  Buyer  is not acting as a financial advisor or fiduciary of
          the  Company  (or  in  any  similar  capacity)  with  respect  to this
          Agreement  and  the transactions contemplated hereby and any statement
          made  by  the Buyer or any of its respective representatives or agents
          in  connection  with  this Agreement and the transactions contemplated
          hereby  is  not advice or a recommendation and is merely incidental to
          the Buyer's purchase of the Securities. The Company further represents
          to  the Buyer that the Company's decision to enter into this Agreement
          has been based solely on the independent evaluation of the Company and
          its  representatives.

               P.  NO  INTEGRATED  OFFERING. Neither the Company, nor any of its
                   ------------------------
          affiliates, nor any person acting on its or their behalf, has directly
          or  indirectly  made  any offers or sales in any security or solicited
          any  offers to buy any security under circumstances that would require
          registration  under  the 1933 Act of the issuance of the Securities to
          the  Buyer.  The  issuance  of the Securities to the Buyer will not be
          integrated  with any other issuance of the Company's securities (past,
          current or future) for purposes of any shareholder approval provisions
          applicable  to  the  Company  or  its  securities.

               Q.  NO  BROKERS. The Company has taken no action which would give
                   -----------
          rise to any claim by any person for brokerage commissions, transaction
          fees  or  similar  payments  relating  to  this  Agreement  or  the
          transactions  contemplated  hereby.

               R.  PERMITS; COMPLIANCE. The Company and each of its Subsidiaries
                   -------------------
          is  in possession of all franchises, grants, authorizations, licenses,
          permits,  easements,  variances,  exemptions,  consents, certificates,
          approvals  and  orders  necessary  to  own,  lease  and  operate  its
          properties  and  to carry on its business as it is now being conducted
          (collectively,  the "COMPANY PERMITS"), and there is no action pending
          or,  to  the knowledge of the Company, threatened regarding suspension
          or cancellation of any of the Company Permits. Neither the Company nor
          any  of  its  Subsidiaries  is  in  conflict  with,  or  in default or
          violation  of,  any  of  the  Company  Permits,  except  for  any such
          conflicts,  defaults  or  violations  which,  individually  or  in the
          aggregate, would not reasonably be expected to have a Material Adverse
          Effect.  Since  December  31,  2004,  neither

<PAGE>

          the   Company  nor   any  of   its  Subsidiaries   has  received  any
          notification   with  respect   to  possible  conflicts,  defaults  or
          violations of applicable laws, except for notices relating to possible
          conflicts,  defaults  or  violations,  which  conflicts,  defaults  or
          violations  would  not  have  a  Material  Adverse  Effect.

               S.  ENVIRONMENTAL  MATTERS.

                    (I)  Except as set forth in SCHEDULE 3(S), there are, to the
               Company's  knowledge,  with  respect to the Company or any of its
               Subsidiaries  or  any  predecessor  of  the  Company,  no past or
               present  violations  of  Environmental  Laws  (as defined below),
               releases  of   any  material   into  the  environment,  actions,
               activities,  circumstances,  conditions,  events,  incidents,  or
               contractual  obligations  which  may  give rise to any common law
               environmental  liability or any liability under the Comprehensive
               Environmental Response, Compensation and Liability Act of 1980 or
               similar  federal,  state,  local  or foreign laws and neither the
               Company  nor any of its Subsidiaries has received any notice with
               respect to any of the foregoing, nor is any action pending or, to
               the Company's knowledge, threatened in connection with any of the
               foregoing.  The  term  "ENVIRONMENTAL  LAWS"  means  all federal,
               state,  local or foreign laws relating to pollution or protection
               of  human  health  or   the  environment   (including,   without
               limitation, ambient air, surface water, groundwater, land surface
               or  subsurface  strata),  including,  without  limitation,  laws
               relating  to   emissions,   discharges,  releases  or  threatened
               releases  of  chemicals,  pollutants  contaminants,  or  toxic or
               hazardous   substances   or   wastes  (collectively,  "HAZARDOUS
               MATERIALS")  into  the  environment, or otherwise relating to the
               manufacture,  processing,  distribution, use, treatment, storage,
               disposal,  transport  or handling of Hazardous Materials, as well
               as all authorizations, codes, decrees, demands or demand letters,
               injunctions,  judgments,  licenses,  notices  or  notice letters,
               orders,  permits,  plans  or  regulations  issued,  entered,
               promulgated  or  approved  thereunder.

                    (II)  Other  than  those  that  are  or were stored, used or
               disposed  of  in  compliance  with  applicable  law, no Hazardous
               Materials  are  contained on or about any real property currently
               owned,  leased or used by the Company or any of its Subsidiaries,
               and  no  Hazardous  Materials  were released on or about any real
               property  previously  owned, leased or used by the Company or any
               of  its  Subsidiaries  during  the period the property was owned,
               leased  or used by the Company or any of its Subsidiaries, except
               in the normal course of the Company's or any of its Subsidiaries'
               business.

                    (III)  Except  as  set  forth in SCHEDULE 3(S), there are no
               underground  storage  tanks  on or under any real property owned,
               leased or used by the Company or any of its Subsidiaries that are
               not  in  compliance  with  applicable  law.

               T.  TITLE TO PROPERTY. The Company and its Subsidiaries have good
                   -----------------
          and  marketable  title in fee simple to all real property and good and
          marketable  title  to  all  personal  property  owned by them which is
          material  to the business of the Company and its Subsidiaries, in each
          case free and clear of all liens, encumbrances and defects except such
          as are described in SCHEDULE 3(T) or such as would not have a Material
          Adverse  Effect.  Any real property and facilities held under lease by
          the  Company  and  its  Subsidiaries  are  held  by  them under valid,
          subsisting  and  enforceable  leases with such exceptions as would not
          have  a  Material  Adverse  Effect.

<PAGE>

               U.  INSURANCE.  The  Company  and  each  of  its Subsidiaries are
                   ---------
          insured  by  insurers  of  recognized financial responsibility against
          such losses and risks and in such amounts as management of the Company
          believes  to  be  prudent and customary in the businesses in which the
          Company  and its Subsidiaries are engaged. Neither the Company nor any
          such  Subsidiary has any reason to believe that it will not be able to
          renew  its  existing  insurance  coverage  as  and  when such coverage
          expires  or to obtain similar coverage from similar insurers as may be
          necessary  to  continue  its  business at a cost that would not have a
          Material  Adverse  Effect.  The Company has provided to Buyer true and
          correct  copies  of  all policies relating to directors' and officers'
          liability  coverage,  errors  and  omissions  coverage, and commercial
          general  liability  coverage.

               V.  INTERNAL  ACCOUNTING  CONTROLS.  The  Company and each of its
                   ------------------------------
          Subsidiaries  maintain  a  system  of  internal  accounting  controls
          sufficient,  in  the  judgment of the Company's board of directors, to
          provide  reasonable  assurance  that  (i) transactions are executed in
          accordance  with management's general or specific authorizations, (ii)
          transactions  are  recorded  as  necessary  to  permit  preparation of
          financial  statements in conformity with generally accepted accounting
          principles  and  to  maintain  asset  accountability,  (iii) access to
          assets  is  permitted  only in accordance with management's general or
          specific authorization and (iv) the recorded accountability for assets
          is  compared  with  the  existing  assets  at reasonable intervals and
          appropriate  action  is  taken  with  respect  to  any  differences.

               W. FOREIGN CORRUPT PRACTICES. Neither the Company, nor any of its
                  -------------------------
          Subsidiaries,  nor  any  director,  officer,  agent, employee or other
          person  acting  on behalf of the Company or any Subsidiary has, in the
          course  of  his  actions  for,  or on behalf of, the Company, used any
          corporate  funds for any unlawful contribution, gift, entertainment or
          other  unlawful  expenses  relating  to  political  activity; made any
          direct  or  indirect  unlawful  payment  to  any  foreign  or domestic
          government  official  or employee from corporate funds; violated or is
          in  violation  of  any provision of the U.S. Foreign Corrupt Practices
          Act  of 1977, as amended, or made any bribe, rebate, payoff, influence
          payment, kickback or other unlawful payment to any foreign or domestic
          government  official  or  employee.

               X. SOLVENCY. The Company (after giving effect to the transactions
                  --------
          contemplated  by  this  Agreement) is solvent (i.e., its assets have a
          fair market value in excess of the amount required to pay its probable
          liabilities on its existing debts as they become absolute and matured)
          and  currently  the  Company  has no information that would lead it to
          reasonably conclude that the Company would not, after giving effect to
          the  transaction  contemplated by this Agreement, have the ability to,
          nor  does  it  intend to take any action that would impair its ability
          to,  pay  its debts from time to time incurred in connection therewith
          as  such debts mature. The Company did not receive a qualified opinion
          from its auditors with respect to its most recent fiscal year end and,
          after  giving  effect  to  the  transactions  contemplated  by  this
          Agreement,  does  not  anticipate  or know of any basis upon which its
          auditors  might  issue  a  qualified opinion in respect of its current
          fiscal  year.

               Y.  NO  INVESTMENT  COMPANY.  The  Company  is  not, and upon the
                   -----------------------
          issuance  and sale of the Securities as contemplated by this Agreement
          will  not  be  an "investment company" required to be registered under
          the  Investment  Company  Act  of  1940 (an "INVESTMENT COMPANY"). The
          Company  is  not  controlled  by  an  Investment  Company.

<PAGE>

               Z.  BREACH  OF  REPRESENTATIONS AND WARRANTIES BY THE COMPANY. If
                   ---------------------------------------------------------
          the  Company  breaches  any  of  the representations or warranties set
          forth  in  this  Section  3,  and  in  addition  to any other remedies
          available  to  the Buyer pursuant to this Agreement, the Company shall
          pay  to the Buyer the Standard Liquidated Damages Amount in cash or in
          shares of Common Stock at the option of the Company, until such breach
          is cured. If the Company elects to pay the Standard Liquidated Damages
          Amounts  in shares of Common Stock, such shares shall be issued at the
          Conversion  Price  at  the  time  of  payment.

          4.  COVENANTS.
              ---------

               A.  BEST  EFFORTS.  The  parties  shall use their best efforts to
                   -------------
          satisfy  timely each of the conditions described in Section 6 and 7 of
          this  Agreement.

               B.  FORM  D;  BLUE  SKY LAWS. The Company agrees to file a Form D
                   ------------------------
          with  respect  to the Securities as required under Regulation D and to
          provide  a  copy  thereof to the Buyer promptly after such filing. The
          Company  shall, on or before the Closing Date, take such action as the
          Company  shall  reasonably  determine  is  necessary  to  qualify  the
          Securities for sale to the Buyer at the applicable closing pursuant to
          this  Agreement  under applicable securities or "blue sky" laws of the
          states  of  the  United  States  (or  to obtain an exemption from such
          qualification), and shall provide evidence of any such action so taken
          to  the  Buyer  on  or  prior  to  the  Closing  Date.

               C.  REPORTING  STATUS;  ELIGIBILITY TO USE FORM S-3, SB-2 OR FORM
                   -------------------------------------------------------------
          S-1.  The  Company's Common Stock is registered under Section 12(g) of
          ---
          the  1934  Act.  The Company represents and warrants that it meets the
          requirements  for  the  use  of  Form  S-3  (or  if the Company is not
          eligible  for the use of Form S-3 as of the Filing Date (as defined in
          the  Registration  Rights  Agreement), the Company may use the form of
          registration  for  which it is eligible at that time) for registration
          of  the sale by the Buyer of the Registrable Securities (as defined in
          the  Registration Rights Agreement). So long as the Buyer beneficially
          owns  any of the Securities, the Company shall timely file all reports
          required  to  be  filed with the SEC pursuant to the 1934 Act, and the
          Company  shall  not terminate its status as an issuer required to file
          reports  under  the  1934  Act  even  if the 1934 Act or the rules and
          regulations  thereunder  would  permit  such  termination. The Company
          further agrees to file all reports required to be filed by the Company
          with  the  SEC  in  a  timely  manner  so  as  to become eligible, and
          thereafter  to  maintain its eligibility, for the use of Form S-3. The
          Company  shall issue a press release describing the materials terms of
          the  transaction  contemplated hereby as soon as practicable following
          the  Closing  Date  but in no event more than two (2) business days of
          the Closing Date, which press release shall be subject to prior review
          by  the  Buyer.  The  Company agrees that such press release shall not
          disclose  the  name  of  the  Buyer  unless  expressly consented to in
          writing  by  the  Buyer  or  unless  required  by  applicable  law  or
          regulation,  and  then  only  to  the  extent  of  such  requirement.

               D.  USE  OF PROCEEDS. The Company shall use the proceeds from the
                   ----------------
          sale of the Notes and the Warrants in the manner set forth in SCHEDULE
          4(D) attached hereto and made a part hereof and shall not, directly or
          indirectly,  use  such  proceeds  for any loan to or investment in any
          other  corporation, partnership, enterprise or other person (except in
          connection  with  its  currently  existing  direct  or  indirect
          Subsidiaries).

<PAGE>

               E.  FUTURE  OFFERINGS. Subject to the exceptions described below,
                   -----------------
          the  Company will not, without the prior written consent of the Buyer,
          not  to be unreasonably withheld, negotiate or contract with any party
          to  obtain  additional equity financing (including debt financing with
          an equity component) that involves (A) the issuance of Common Stock at
          a  discount  to  the  market  price of the Common Stock on the date of
          issuance  (taking into account the value of any warrants or options to
          acquire  Common  Stock  issued  in  connection  therewith)  or (B) the
          issuance  of  convertible  securities  that  are  convertible  into an
          indeterminate  number of shares of Common Stock or (C) the issuance of
          warrants  during  the  period  (the "LOCK-UP PERIOD") beginning on the
          Closing  Date and ending on the later of (i) two hundred seventy (270)
          days from the Closing Date and (ii) one hundred eighty (180) days from
          the  date  the  Registration Statement (as defined in the Registration
          Rights  Agreement) is declared effective (plus any days in which sales
          cannot  be  made  thereunder).  In addition, subject to the exceptions
          described  below,  the  Company  will not conduct any equity financing
          (including  debt with an equity component) ("FUTURE OFFERINGS") during
          the  period  beginning  on  the  Closing Date and ending two (2) years
          after  the  end  of  the  Lock-up  Period  unless  it shall have first
          delivered  to  the  Buyer, at least twenty (20) business days prior to
          the  closing  of  such  Future Offering, written notice describing the
          proposed  Future  Offering, including the terms and conditions thereof
          and proposed definitive documentation to be entered into in connection
          therewith,  and  providing the Buyer an option during the fifteen (15)
          day  period following delivery of such notice to purchase its pro rata
          share (based on the ratio that the aggregate principal amount of Notes
          purchased  by  it hereunder bears to the aggregate principal amount of
          Notes  purchased  hereunder)  of  the  securities being offered in the
          Future  Offering  on  the  same  terms  as contemplated by such Future
          Offering  (the  limitations  referred  to  in  this  sentence  and the
          preceding  sentence  are  collectively  referred  to  as  the "CAPITAL
          RAISING  LIMITATIONS").  In  the  event  the terms and conditions of a
          proposed  Future Offering are amended in any respect after delivery of
          the  notice  to the Buyer concerning the proposed Future Offering, the
          Company shall deliver a new notice to the Buyer describing the amended
          terms  and  conditions  of  the proposed Future Offering and the Buyer
          thereafter  shall  have  an  option during the fifteen (15) day period
          following  delivery  of such new notice to purchase its pro rata share
          of  the  securities being offered on the same terms as contemplated by
          such  proposed  Future  Offering,  as  amended. The foregoing sentence
          shall  apply  to  successive amendments to the terms and conditions of
          any  proposed  Future  Offering. The Capital Raising Limitations shall
          not  apply to any transaction involving (i) issuances of securities in
          a firm commitment underwritten public offering (excluding a continuous
          offering pursuant to Rule 415 under the 1933 Act) or (ii) issuances of
          securities as consideration for a merger, consolidation or purchase of
          assets,  or  in  connection  with  any  strategic partnership or joint
          venture (the primary purpose of which is not to raise equity capital),
          or  in  connection  with the disposition or acquisition of a business,
          product  or  license  by  the Company. The Capital Raising Limitations
          also  shall  not  apply to the issuance of securities upon exercise or
          conversion  of  the  Company's  options, warrants or other convertible
          securities  outstanding  as  of  the  date  hereof  or to the grant of
          additional  options  or  warrants,  or  the  issuance  of  additional
          securities,  under  any  Company stock option or restricted stock plan
          approved  by  the  shareholders  of  the  Company.

               F. FEES AND EXPENSES. At the Closing, the Company shall reimburse
                  -----------------
          the  Buyer,  up  to $10,000, for expenses incurred by it in connection
          with the negotiation, preparation, execution, delivery and performance
          of  this  Agreement  and  the  other  agreements  to  be  executed  in
          connection  herewith  ("Documents"),  including,  without  limitation,

<PAGE>

          attorneys'  and  consultants'  fees and expenses, transfer agent fees,
          fees  for stock quotation services, fees relating to any amendments or
          modifications  of  the  Documents  or  any  consents  or  waivers  of
          provisions  in  the Documents, fees for the preparation of opinions of
          counsel,  escrow  fees,  and  costs  of restructuring the transactions
          contemplated  by  the  Documents.  When possible, the Company must pay
          these fees directly, otherwise the Company must make immediate payment
          for  reimbursement  to the Buyer for all fees and expenses immediately
          upon  written  notice  by the Buyer or the submission of an invoice by
          the  Buyer  If the Company fails to reimburse the Buyer in full within
          three (3) business days of the written notice or submission of invoice
          by  the  Buyer,  the Company shall pay interest on the total amount of
          fees  to  be  reimbursed at a rate of 15% per annum. In addition, upon
          the  execution of this Agreement, the Company shall issue to the Buyer
          40  million  shares  of  the  Company's  Common Stock (the "Investor's
          Shares").                                                   ----------
          ------

               G.  FINANCIAL  INFORMATION.  The  Company  agrees  to  send  the
                   ----------------------
          following  reports to the Buyer until the Buyer transfers, assigns, or
          sells  all  of  the  Securities: within ten (10) days after the filing
          with the SEC, a copy of its Annual Report on Form 10-KSB its Quarterly
          Reports on Form 10-QSB and any Current Reports on Form 8-K; within one
          (1)  day  after  release,  copies  of all press releases issued by the
          Company  or  any  of  its Subsidiaries; and contemporaneously with the
          making  available or giving to the shareholders of the Company, copies
          of  any  notices  or  other information the Company makes available or
          gives  to  such  shareholders.

               H.  AUTHORIZATION  AND  RESERVATION  OF  SHARES.  Subject  to
                   -------------------------------------------
          Stockholder  Approval, the Company shall at all times have authorized,
          and  reserved  for  the  purpose  of  issuance, a sufficient number of
          shares  of Common Stock to provide for the full conversion or exercise
          of  the  outstanding Notes and Warrants and issuance of the Conversion
          Shares  and  Warrant  Shares  in  connection  therewith  (based on the
          Conversion  Price  of  the  Notes or Exercise Price of the Warrants in
          effect  from time to time) and as otherwise required by the Notes. The
          Company shall not reduce the number of shares of Common Stock reserved
          for  issuance  upon  conversion  of Notes and exercise of the Warrants
          without  the  consent  of  the  Buyer.  The Company shall at all times
          maintain the number of shares of Common Stock so reserved for issuance
          at  an  amount ("RESERVED AMOUNT") equal to no less than two (2) times
          the  number that is then actually issuable upon full conversion of the
          Notes and Additional Notes and one (1) time the number that is issable
          upon  exercise  of  the Warrants and the Additional Warrants (based on
          the  Conversion  Price  of  the  Notes  or  the  Exercise Price of the
          Warrants  in  effect  from time to time). If at any time the number of
          shares  of  Common  Stock  authorized  and  reserved  for  issuance
          ("AUTHORIZED  AND  RESERVED SHARES") is below the Reserved Amount, the
          Company will promptly take all corporate action necessary to authorize
          and  reserve  a  sufficient  number  of  shares,  including,  without
          limitation,  calling  a  special  meeting of shareholders to authorize
          additional shares to meet the Company's obligations under this Section
          4(h),  in  the  case  of  an insufficient number of authorized shares,
          obtain  shareholder  approval of an increase in such authorized number
          of shares, and voting the management shares of the Company in favor of
          an increase in the authorized shares of the Company to ensure that the
          number of authorized shares is sufficient to meet the Reserved Amount.

<PAGE>

          If the Company fails to obtain such shareholder approval within thirty
          (30)  days  following  the date on which the number of Reserved Amount
          exceeds  the  Authorized and Reserved Shares, the Company shall pay to
          the Buyer the Standard Liquidated Damages Amount, in cash or in shares
          of  Common Stock at the option of the Buyer. If the Buyer elects to be
          paid the Standard Liquidated Damages Amount in shares of Common Stock,
          such  shares  shall  be  issued at the Conversion Price at the time of
          payment.  In  order  to  ensure  that  the  Company  has  authorized a
          sufficient  amount of shares to meet the Reserved Amount at all times,
          the Company must deliver to the Buyer at the end of every month a list
          detailing  (1)  the current amount of shares authorized by the Company
          and  reserved  for  the  Buyer; and (2) amount of shares issuable upon
          conversion  of  the  Notes  and  upon  exercise of the Warrants and as
          payment  of interest accrued on the Notes for one year. If the Company
          fails to provide such list within five (5) business days of the end of
          each  month,  the  Company  shall  pay the Standard Liquidated Damages
          Amount,  in  cash  or  in  shares of Common Stock at the option of the
          Buyer, until the list is delivered. If the Buyer elects to be paid the
          Standard  Liquidated  Damages  Amount  in shares of Common Stock, such
          shares shall be issued at the Conversion Price at the time of payment.

               I.  LISTING. The Company shall promptly secure the listing of the
                   -------
          Conversion  Shares  and  Warrant  Shares upon each national securities
          exchange  or  automated quotation system, if any, upon which shares of
          Common  Stock are then listed (subject to official notice of issuance)
          and,  so long as the Buyer owns any of the Securities, shall maintain,
          so  long  as any other shares of Common Stock shall be so listed, such
          listing  of all Conversion Shares and Warrant Shares from time to time
          issuable upon conversion of the Notes or exercise of the Warrants. The
          Company  will  obtain  and,  so  long  as  the  Buyer  owns any of the
          Securities,  maintain  the  listing and trading of its Common Stock on
          the  OTCBB or any equivalent replacement exchange, the Nasdaq National
          Market ("NASDAQ"), the Nasdaq SmallCap Market ("NASDAQ SMALLCAP"), the
          New  York  Stock  Exchange  ("NYSE"),  or  the American Stock Exchange
          ("AMEX") and will comply in all respects with the Company's reporting,
          filing and other obligations under the bylaws or rules of the National
          Association  of  Securities  Dealers  ("NASD")  and such exchanges, as
          applicable.  The Company shall promptly provide to the Buyer copies of
          any  notices  it  receives  from  the OTCBB and any other exchanges or
          quotation  systems  on which the Common Stock is then listed regarding
          the  continued  eligibility  of  the  Common Stock for listing on such
          exchanges  and  quotation  systems.

               J.  CORPORATE  EXISTENCE.  So long as the Buyer beneficially owns
                   --------------------
          any  Notes  or  Warrants,  the  Company  shall  maintain its corporate
          existence and shall not sell all or substantially all of the Company's
          assets,  except  in  the event of a merger or consolidation or sale of
          all  or substantially all of the Company's assets, where the surviving
          or  successor  entity  in  such  transaction (i) assumes the Company's
          obligations hereunder and under the agreements and instruments entered
          into  in connection herewith and (ii) is a publicly traded corporation
          whose  Common Stock is listed for trading on the OTCBB, Nasdaq, Nasdaq
          SmallCap,  NYSE  or  AMEX.

               K. NO INTEGRATION. The Company shall not make any offers or sales
                  --------------
          of  any  security (other than the Securities) under circumstances that
          would  require  registration  of  the Securities being offered or sold
          hereunder  under  the 1933 Act or cause the offering of the Securities
          to  be integrated with any other offering of securities by the Company
          for  the  purpose  of any stockholder approval provision applicable to
          the  Company  or  its  securities.

               L.  RESTRICTION ON SHORT SALES. The Buyer agrees that, so long as
                   --------------------------
          any of the Notes remain outstanding, but in no event less than two (2)
          years  from  the  date hereof, the Buyer will not enter into or effect

<PAGE>

          any  "short  sales"  (as such term is defined in Rule 3b-3 of the 1934
          Act)  of  the  Common Stock or hedging transaction which establishes a
          net  short  position  with  respect  to  the  Common  Stock.

               M.  BREACH  OF  COVENANTS.  If  the  Company  breaches any of the
                   ---------------------
          covenants  set  forth  in this Section 4, and in addition to any other
          remedies  available  to  the  Buyer  pursuant  to  this Agreement, the
          Company shall pay to the Buyer the Standard Liquidated Damages Amount,
          in  cash  or  in  shares of Common Stock at the option of the Company,
          until  such breach is cured. If the Company elects to pay the Standard
          Liquidated  Damages  Amount  in shares, such shares shall be issued at
          the  Conversion  Price  at  the  time  of  payment.

               N.  SUBSEQUENT  INVESTMENT. The Company and the Buyer agree that,
                   ----------------------
          upon  the  filing  by  the Company of the Registration Statement to be
          filed  pursuant  to  the  Registration  Rights  Agreement (the "FILING
          DATE"), the Buyer shall purchase additional Notes (the "FILING NOTES")
          in  the  aggregate  principal  amount  of  Fifty-Five Thousand Dollars
          ($55,000)  and additional warrants (the "FILING WARRANTS") to purchase
          an  aggregate  of  96,250,000 shares of Common Stock, for an aggregate
          purchase  price  of  Fifty-Five  Thousand  Dollars ($55,000), with the
          closing  of  such purchase to occur within five (5) days of the Filing
          Date;  provided, however, that the obligation of the Buyer to purchase
                 --------  -------
          the  Filing  Notes  and  the  Filing  Warrants  is  subject  to  the
          satisfaction,  at  or before the closing of such purchase and sale, of
          the  conditions  set  forth  in  Section  7. The Company and the Buyer
          further  agree  that,  upon  the  declaration  of effectiveness of the
          Registration Statement to be filed pursuant to the Registration Rights
          Agreement  (the "EFFECTIVE DATE"), the Buyer shall purchase additional
          notes  (the  "EFFECTIVENESS  NOTES"  and, collectively with the Filing
          Notes,  the  "ADDITIONAL  NOTES") in the aggregate principal amount of
          Two  Hundred  Thousand Dollars ($200,000) and additional warrants (the
          "EFFECTIVENESS  WARRANTS"  and, collectively with the Filing Warrants,
          the  "ADDITIONAL  WARRANTS")  to  purchase an aggregate of 350,000,000
          shares of Common Stock, for an aggregate purchase price of Two Hundred
          Thousand  Dollars  ($200,000),  with  the  closing of such purchase to
          occur  within  five (5) days of the Effective Date; provided, however,
                                                              --------  -------
          that  the obligation of the Buyer to purchase the Additional Notes and
          the  Additional  Warrants is subject to the satisfaction, at or before
          the  closing of such purchase and sale, of the conditions set forth in
          Section  7;  and,  provided, further, that there shall not have been a
                             --------  -------
          Material  Adverse  Effect  as of such effective date. The terms of the
          Additional Notes and the Additional Warrants shall be identical to the
          terms  of  the Notes and Warrants, as the case may be, to be issued on
          the Closing Date. The Common Stock underlying the Additional Notes and
          the Additional Warrants shall be Registrable Securities (as defined in
          the  Registration  Rights  Agreement)  and  shall  be  included in the
          Registration Statement to be filed pursuant to the Registration Rights
          Agreement.

               O.  STOCKHOLDER  APPROVAL. The Company shall use its best efforts
                   ---------------------
          to  obtain, on or before July 1, 2006, such approvals of the Company's
          stockholders  as  may be required to issue all of the shares of Common
          Stock  issuable  upon  conversion  or  exercise  of, or otherwise with
          respect to, the Notes and the Warrants in accordance with Delaware law
          and  any  applicable  rules  or  regulations  of the OTCBB and Nasdaq,
          either  through  a  reverse  stock  split  of  the  Common Stock or an
          increase  in  authorized  capital  (the  "Stockholder  Approval"). The
          Company  shall  furnish  to  each Buyer and its legal counsel promptly
          (but  in  no event less than two (2) business days) before the same is
          filed  with  the  SEC,  one  copy  of any amendment thereto, and shall
          deliver  to each Buyer promptly each letter written by or on behalf of

<PAGE>

          the  Company  to  the  SEC  or  the staff of the SEC, and each item of
          correspondence  from  the  SEC  or  the staff of the SEC, in each case
          relating  to  such  proxy  or  information  statement  (other than any
          portion  thereof  which contains information for which the Company has
          sought  confidential  treatment). The Company will promptly (but in no
          event  more  than  three  (3)  business  days)  respond to any and all
          comments  received from the SEC (which comments shall promptly be made
          available to each Buyer). The Company shall comply with the filing and
          disclosure requirements of Section 14 under the 1934 Act in connection
          with  the  Stockholder  Approval.  The Company represents and warrants
          that  its Board of Directors has approved the proposal contemplated by
          this  Section  4(o)  and  shall indicate such approval in the proxy or
          information  statement  used  in  connection  with  the  Stockholder
          Approval.

          5.  TRANSFER  AGENT  INSTRUCTIONS. The Company shall issue irrevocable
              -----------------------------
     instructions to its transfer agent to issue certificates, registered in the
     name  of  the  Buyer  or its nominee, for the Conversion Shares and Warrant
     Shares  in  such amounts as specified from time to time by the Buyer to the
     Company  upon  conversion  of  the  Notes  or  exercise  of the Warrants in
     accordance  with  the  terms  thereof  (the  "IRREVOCABLE  TRANSFER  AGENT
     INSTRUCTIONS").  Prior to registration of the Conversion Shares and Warrant
     Shares  under  the  1933 Act or the date on which the Conversion Shares and
     Warrant  Shares may be sold pursuant to Rule 144 without any restriction as
     to  the  number  of  Securities  as  of  a particular date that can then be
     immediately  sold,  all such certificates shall bear the restrictive legend
     specified  in  Section 2(g) of this Agreement. The Company warrants that no
     instruction other than the Irrevocable Transfer Agent Instructions referred
     to  in  this  Section  5,  and stop transfer instructions to give effect to
     Section  2(f)  hereof  (in  the  case  of the Conversion Shares and Warrant
     Shares,  prior  to registration of the Conversion Shares and Warrant Shares
     under  the  1933 Act or the date on which the Conversion Shares and Warrant
     Shares  may  be sold pursuant to Rule 144 without any restriction as to the
     number  of  Securities as of a particular date that can then be immediately
     sold),  will  be  given  by  the Company to its transfer agent and that the
     Securities  shall otherwise be freely transferable on the books and records
     of  the  Company  as  and  to the extent provided in this Agreement and the
     Registration  Rights Agreement. Nothing in this Section shall affect in any
     way  the Buyer's obligations and agreement set forth in Section 2(g) hereof
     to  comply  with  all  applicable prospectus delivery requirements, if any,
     upon  re-sale of the Securities. If the Buyer provides the Company with (i)
     an  opinion  of counsel in form, substance and scope customary for opinions
     in comparable transactions, to the effect that a public sale or transfer of
     such  Securities  may  be  made without registration under the 1933 Act and
     such  sale  or  transfer  is effected or (ii) the Buyer provides reasonable
     assurances  that  the  Securities  can  be  sold  pursuant to Rule 144, the
     Company  shall  permit  the  transfer,  and,  in the case of the Conversion
     Shares  and  Warrant  Shares, promptly instruct its transfer agent to issue
     one or more certificates, free from restrictive legend, in such name and in
     such denominations as specified by the Buyer. The Company acknowledges that
     a  breach by it of its obligations hereunder will cause irreparable harm to
     the  Buyer,  by  vitiating  the  intent  and  purpose  of  the transactions
     contemplated  hereby. Accordingly, the Company acknowledges that the remedy
     at  law  for  a  breach  of  its  obligations  under  this Section 5 may be
     inadequate and agrees, in the event of a breach or threatened breach by the
     Company  of  the  provisions  of  this  Section,  that  the  Buyer shall be
     entitled,  in  addition  to  all other available remedies, to an injunction
     restraining  any  breach  and  requiring  immediate  transfer,  without the
     necessity  of  showing economic loss and without any bond or other security
     being  required.

<PAGE>

          6.  CONDITIONS  TO THE COMPANY'S OBLIGATION TO SELL. The obligation of
              -----------------------------------------------
     the Company hereunder to issue and sell the Notes and Warrants to the Buyer
     at  the  Closing  is  subject to the satisfaction, at or before the Closing
     Date  of  each  of  the  following  conditions thereto, provided that these
     conditions  are  for  the  Company's  sole benefit and may be waived by the
     Company  at  any  time  in  its  sole  discretion:

               A.  The  Buyer  shall  have  executed  this  Agreement  and  the
          Registration  Rights Agreement, and delivered the same to the Company.

               B.  The  Buyer  shall  have  delivered  the  Purchase  Price  in
          accordance  with  Section  1(b)  above.

               C.  The representations and warranties of the Buyer shall be true
          and  correct  in all material respects as of the date when made and as
          of  the  Closing  Date  as  though  made  at  that  time  (except  for
          representations  and warranties that speak as of a specific date), and
          the Buyer shall have performed, satisfied and complied in all material
          respects  with  the  covenants,  agreements and conditions required by
          this  Agreement  to  be  performed,  satisfied or complied with by the
          Buyer  at  or  prior  to  the  Closing  Date.

               D.  No  litigation,  statute,  rule, regulation, executive order,
          decree,  ruling  or  injunction  shall  have  been  enacted,  entered,
          promulgated  or  endorsed by or in any court or governmental authority
          of  competent  jurisdiction or any self-regulatory organization having
          authority  over  the  matters  contemplated hereby which prohibits the
          consummation  of  any  of  the  transactions  contemplated  by  this
          Agreement.

          7. CONDITIONS TO BUYER'S OBLIGATION TO PURCHASE. The obligation of the
             --------------------------------------------
     Buyer  hereunder  to  purchase  the  Notes  and  Warrants at the Closing is
     subject  to  the satisfaction, at or before the Closing Date of each of the
     following  conditions,  provided that these conditions are for Buyer's sole
     benefit  and  may  be  waived  by Buyer at any time in its sole discretion:

               A.  The  Company  shall  have  executed  this  Agreement  and the
          Registration  Rights  Agreement,  and delivered the same to the Buyer.

               B.  The  Company shall have delivered to such Buyer duly executed
          Notes  (in such denominations as the Buyer shall request) and Warrants
          in  accordance  with  Section  1(b)  above.

               C.  The  Irrevocable  Transfer  Agent  Instructions,  in form and
          substance  satisfactory to the Buyer, shall have been delivered to and
          acknowledged  in  writing  by  the  Company's  Transfer  Agent.

               D.  The  representations  and  warranties of the Company shall be
          true and correct in all material respects as of the date when made and
          as  of  the  Closing  Date  as  though  made  at such time (except for
          representations  and  warranties that speak as of a specific date) and
          the  Company  shall  have  performed,  satisfied  and  complied in all
          material  respects  with  the  covenants,  agreements  and  conditions
          required by this Agreement to be performed, satisfied or complied with
          by  the  Company at or prior to the Closing Date. The Buyer shall have

<PAGE>

          received  a  certificate  or  certificates,  executed  by  the  chief
          executive officer of the Company, dated as of the Closing Date, to the
          foregoing  effect  and  as  to such other matters as may be reasonably
          requested by the Buyer including, but not limited to certificates with
          respect  to  the  Company's  Certificate of Incorporation, By-laws and
          Board  of  Directors'  resolutions  relating  to  the  transactions
          contemplated  hereby.

               E.  No  litigation,  statute,  rule, regulation, executive order,
          decree,  ruling  or  injunction  shall  have  been  enacted,  entered,
          promulgated  or  endorsed by or in any court or governmental authority
          of  competent  jurisdiction or any self-regulatory organization having
          authority  over  the  matters  contemplated hereby which prohibits the
          consummation  of  any  of  the  transactions  contemplated  by  this
          Agreement.

               F.  No  event  shall  have  occurred  which  could  reasonably be
          expected  to  have  a  Material  Adverse  Effect  on  the  Company.

               G.  The  Conversion  Shares  and  Warrant  Shares shall have been
          authorized  for quotation on the OTCBB and trading in the Common Stock
          on  the  OTCBB  shall not have been suspended by the SEC or the OTCBB.

               H.  The  Buyer  shall  have  received an opinion of the Company's
          counsel,  dated  as  of the Closing Date, in form, scope and substance
          reasonably  satisfactory  to  the  Buyer and in substantially the same
          form  as  EXHIBIT  "D"  attached  hereto.

               I.  The  Buyer  shall  have  received  an  officer's  certificate
          described  in  Section  3(c)  above,  dated  as  of  the Closing Date.

          8.  GOVERNING  LAW;  MISCELLANEOUS.
              ------------------------------

               A.  GOVERNING  LAW. THIS AGREEMENT SHALL BE ENFORCED, GOVERNED BY
                   --------------
          AND  CONSTRUED  IN  ACCORDANCE  WITH THE LAWS OF THE STATE OF NEW YORK
          APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH
          STATE,  WITHOUT  REGARD  TO  THE  PRINCIPLES  OF CONFLICT OF LAWS. THE
          PARTIES  HERETO  HEREBY  SUBMIT  TO  THE EXCLUSIVE JURISDICTION OF THE
          UNITED  STATES  FEDERAL  COURTS  LOCATED  IN  NEW  YORK, NEW YORK WITH
          RESPECT  TO  ANY  DISPUTE ARISING UNDER THIS AGREEMENT, THE AGREEMENTS
          ENTERED  INTO  IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED
          HEREBY  OR  THEREBY.  BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN
          INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING. BOTH
          PARTIES  FURTHER  AGREE THAT SERVICE OF PROCESS UPON A PARTY MAILED BY
          FIRST CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF
          PROCESS  UPON THE PARTY IN ANY SUCH SUIT OR PROCEEDING. NOTHING HEREIN
          SHALL AFFECT EITHER PARTY'S RIGHT TO SERVE PROCESS IN ANY OTHER MANNER
          PERMITTED  BY  LAW.  BOTH  PARTIES  AGREE  THAT A FINAL NON-APPEALABLE
          JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE
          ENFORCED  IN  OTHER  JURISDICTIONS  BY SUIT ON SUCH JUDGMENT OR IN ANY
          OTHER  LAWFUL  MANNER. THE PARTY WHICH DOES NOT PREVAIL IN ANY DISPUTE

<PAGE>

          ARISING  UNDER  THIS  AGREEMENT  SHALL BE RESPONSIBLE FOR ALL FEES AND
          EXPENSES,  INCLUDING ATTORNEYS' FEES, INCURRED BY THE PREVAILING PARTY
          IN  CONNECTION  WITH  SUCH  DISPUTE.

               B.  COUNTERPARTS;  SIGNATURES BY FACSIMILE. This Agreement may be
                   --------------------------------------
          executed in one or more counterparts, each of which shall be deemed an
          original  but all of which shall constitute one and the same agreement
          and  shall become effective when counterparts have been signed by each
          party  and delivered to the other party. This Agreement, once executed
          by  a  party,  may be delivered to the other party hereto by facsimile
          transmission  of a copy of this Agreement bearing the signature of the
          party  so  delivering  this  Agreement.

               C.  HEADINGS.  The headings of this Agreement are for convenience
                   --------
          of  reference  only  and  shall  not  form  part  of,  or  affect  the
          interpretation  of,  this  Agreement.

               D.  SEVERABILITY.  In  the  event  that  any  provision  of  this
                   ------------
          Agreement  is invalid or unenforceable under any applicable statute or
          rule  of  law,  then such provision shall be deemed inoperative to the
          extent  that it may conflict therewith and shall be deemed modified to
          conform  with  such statute or rule of law. Any provision hereof which
          may  prove invalid or unenforceable under any law shall not affect the
          validity  or  enforceability  of  any  other  provision  hereof.

               E.  ENTIRE  AGREEMENT;  AMENDMENTS.  This  Agreement  and  the
                   ------------------------------
          instruments  referenced herein contain the entire understanding of the
          parties  with  respect  to the matters covered herein and therein and,
          except  as  specifically  set  forth  herein  or  therein, neither the
          Company  nor the Buyer makes any representation, warranty, covenant or
          undertaking  with  respect  to  such  matters.  No  provision  of this
          Agreement  may  be  waived  or  amended other than by an instrument in
          writing  signed  by  the  party  to  be  charged  with  enforcement.

               F.  NOTICES.  Any notices required or permitted to be given under
                   -------
          the  terms  of this Agreement shall be sent by certified or registered
          mail  (return receipt requested) or delivered personally or by courier
          (including  a  recognized  overnight delivery service) or by facsimile
          and  shall  be  effective five days after being placed in the mail, if
          mailed  by  regular  United States mail, or upon receipt, if delivered
          personally  or  by  courier (including a recognized overnight delivery
          service)  or  by  facsimile,  in  each  case addressed to a party. The
          addresses  for  such  communications  shall  be:

<PAGE>

                               If to the Company:

                                   The  World  Golf  League,  Inc.
                                   2139  State  Road  434,  Suite  101
                                   Longwood,  Florida  32779
                                   Attention:  Chief  Executive  Officer
                                   Telephone:  407-331-6272
                                   Facsimile:  407-331-6271

                               With a copy to:

                               If to the Buyer:

                                   DLC  Capital  Group,  LLC
                                   4400  Route  9  South,  Suite  1000
                                   Freehold,  New  Jersey  07728
                                   Attention:  Joe  Fierro
                                   Telephone:  732-303-7487
                                   Facsimile:  732-303-7488

                               With copy to:

                                   Sichenzia  Ross  Friedman  Ference  LLP
                                   1065  Avenue  of  the  Americas
                                   21st  Floor
                                   New  York,  New  York  10018
                                   Attention:  Gregory  Sichenzia,  Esq.
                                   Telephone:  212-930-9700
                                   Facsimile:  212-930-9725

      Each party shall provide notice to the other party of any change in
address.

               G.  SUCCESSORS  AND ASSIGNS. This Agreement shall be binding upon
                   -----------------------
          and  inure  to  the  benefit  of  the parties and their successors and
          assigns.  Neither the Company nor Buyer shall assign this Agreement or
          any  rights or obligations hereunder without the prior written consent
          of  the other. Notwithstanding the foregoing, subject to Section 2(f),
          the Buyer may assign its rights hereunder to any person that purchases
          Securities  in  a  private transaction from the Buyer or to any of its
          "affiliates,"  as that term is defined under the 1934 Act, without the
          consent  of  the  Company.

               H.  THIRD PARTY BENEFICIARIES. This Agreement is intended for the
                   -------------------------
          benefit  of  the  parties  hereto  and  their  respective  permitted
          successors  and  assigns,  and  is not for the benefit of, nor may any
          provision  hereof  be  enforced  by,  any  other  person.

<PAGE>

               I.  SURVIVAL.  The  representations and warranties of the Company
                   --------
          and  the  agreements and covenants set forth in Sections 3, 4, 5 and 8
          shall  survive the closing hereunder notwithstanding any due diligence
          investigation  conducted  by  or  on  behalf of the Buyer. The Company
          agrees  to indemnify and hold harmless the Buyer and all its officers,
          directors, employees and agents for loss or damage arising as a result
          of or related to any breach or alleged breach by the Company of any of
          its  representations, warranties and covenants set forth in Sections 3
          and  4  hereof  or  any  of  its  covenants and obligations under this
          Agreement  or the Registration Rights Agreement, including advancement
          of  expenses  as  they  are  incurred.

               J.  PUBLICITY.  The Company and the Buyer shall have the right to
                   ---------
          review  a  reasonable  period  of  time  before  issuance of any press
          releases,  SEC,  OTCBB or NASD filings, or any other public statements
          with  respect  to  the  transactions  contemplated  hereby;  provided,
                                                                       --------
          however,  that  the  Company  shall  be  entitled,  without  the prior
          -------
          approval  of  the  Buyer,  to make any press release or SEC, OTCBB (or
          other  applicable trading market) or NASD filings with respect to such
          transactions  as  is  required  by  applicable  law  and  regulations
          (although  the  Buyer  shall be consulted by the Company in connection
          with any such press release prior to its release and shall be provided
          with  a  copy thereof and be given an opportunity to comment thereon).

               K.  FURTHER ASSURANCES. Each party shall do and perform, or cause
                   ------------------
          to  be done and performed, all such further acts and things, and shall
          execute  and  deliver  all  such  other  agreements,  certificates,
          instruments  and  documents, as the other party may reasonably request
          in  order  to carry out the intent and accomplish the purposes of this
          Agreement  and  the  consummation  of  the  transactions  contemplated
          hereby.

               L.  NO  STRICT  CONSTRUCTION. The language used in this Agreement
                   ------------------------
          will  be  deemed  to  be the language chosen by the parties to express
          their  mutual  intent,  and  no  rules  of strict construction will be
          applied  against  any  party.

               M.  REMEDIES. The Company acknowledges that a breach by it of its
                   --------
          obligations  hereunder  will  cause  irreparable  harm to the Buyer by
          vitiating  the  intent  and  purpose  of  the transaction contemplated
          hereby.  Accordingly,  the Company acknowledges that the remedy at law
          for  a  breach  of  its  obligations  under  this  Agreement  will  be
          inadequate  and  agrees, in the event of a breach or threatened breach
          by  the  Company  of  the provisions of this Agreement, that the Buyer
          shall  be entitled, in addition to all other available remedies at law
          or  in  equity, and in addition to the penalties assessable herein, to
          an  injunction  or  injunctions  restraining, preventing or curing any
          breach  of  this  Agreement  and to enforce specifically the terms and
          provisions  hereof, without the necessity of showing economic loss and
          without  any  bond  or  other  security  being  required.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

     IN  WITNESS WHEREOF, the undersigned Buyer and the Company have caused this
Agreement  to  be  duly  executed  as  of  the  date  first  above  written.

THE  WORLD  GOLF  LEAGUE,  INC.

/s/ Michael S. Pagnano
--------------------------------------
Michael  S.  Pagnano
Chief  Executive  Officer

DLC  CAPITAL  GROUP,  LLC

/s/ Joseph Fierro
-------------------------------------
Joseph  Fierro
Manager

<PAGE>Exhibit 10.2

THE  SECURITIES  REPRESENTED  BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE  SECURITIES  ACT OF 1933, AS AMENDED (THE "ACT").  THE SECURITIES MAY NOT BE
SOLD,  TRANSFERRED  OR  ASSIGNED  IN  THE  ABSENCE  OF AN EFFECTIVE REGISTRATION
STATEMENT  FOR  THE SECURITIES UNDER SAID ACT, OR AN OPINION OF COUNSEL IN FORM,
SUBSTANCE AND SCOPE CUSTOMARY FOR OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR UNLESS SOLD PURSUANT TO RULE
144  OR  REGULATION  S  UNDER  SAID  ACT.

                                CONVERTIBLE NOTE

Altamonte Springs, Florida
May 18, 2006                                                            $145,000

     FOR  VALUE  RECEIVED,  THE  WORLD GOLF LEAGUE, INC., a Delaware corporation
(hereinafter  called the "BORROWER"), hereby promises to pay to the order of DLC
Capital Group, LLC. or registered assigns (the "HOLDER") the sum of $145,000, on
May  18, 2009 (the "MATURITY DATE"), and to pay interest on the unpaid principal
balance  hereof at the rate of ten percent (10%) (the "INTEREST RATE") per annum
from  May  18,  2006  (the "ISSUE DATE") until the same becomes due and payable,
whether  at  maturity  or  upon  acceleration or by prepayment or otherwise. Any
amount  of  principal  or interest on this Note which is not paid when due shall
bear  interest  at the rate of fifteen percent (15%) per annum from the due date
thereof  until  the  same  is paid ("DEFAULT INTEREST"). Interest shall commence
accruing  on the Issue Date, shall be computed on the basis of the actual number
of  days  elapsed  and shall be payable on the 1st of each month in arrears. All
payments due hereunder (to the extent not converted into common stock, $.001 par
value  per share (the "COMMON STOCK") in accordance with the terms hereof) shall
be  made  in lawful money of the United States of America. All payments shall be
made  at  such  address  as  the  Holder shall hereafter give to the Borrower by
written notice made in accordance with the provisions of this Note. Whenever any
amount  expressed to be due by the terms of this Note is due on any day which is
not  a  business  day,  the same shall instead be due on the next succeeding day
which  is  a business day and, in the case of any interest payment date which is
not  the  date on which this Note is paid in full, the extension of the due date
thereof  shall  not be taken into account for purposes of determining the amount
of  interest  due  on  such  date. As used in this Note, the term "business day"
shall  mean  any  day other than a Saturday, Sunday or a day on which commercial
banks  in  the  city  of New York, New York are authorized or required by law or
executive  order  to  remain  closed. Each capitalized term used herein, and not

<PAGE>

otherwise  defined,  shall  have  the  meaning  ascribed thereto in that certain
Securities  Purchase  Agreement, dated May 18, 2006, pursuant to which this Note
was  originally  issued (the "PURCHASE AGREEMENT"). This Note may not be prepaid
without  the  written  consent  of  the  Holder.

     This  Note  is  free  from  all  taxes, liens, claims and encumbrances with
respect  to  the  issue thereof and shall not be subject to preemptive rights or
other  similar  rights  of  shareholders  of  the  Borrower  and will not impose
personal  liability  upon  the  holder  thereof.

     The  following  terms  shall  apply  to  this  Note:

                          ARTICLE I. CONVERSION RIGHTS

          1.1  CONVERSION  RIGHT.  The  Holder shall have the right from time to
               -----------------
     time,  and  at  any time on or prior to the Maturity Date to convert all or
     any  part  of the outstanding and unpaid principal amount of this Note into
     fully  paid and non-assessable shares of Common Stock, as such Common Stock
     exists  on  the  Issue  Date,  or  any  shares  of  capital  stock or other
     securities  of the Borrower into which such Common Stock shall hereafter be
     changed  or  reclassified  at the conversion price (the "CONVERSION PRICE")
     determined  as provided herein (a "CONVERSION"); provided, however, that in
                                                      --------  -------
     no  event  shall the Holder be entitled to convert any portion of this Note
     in  excess of that portion of this Note upon conversion of which the sum of
     (1)  the  number of shares of Common Stock beneficially owned by the Holder
     and  its  affiliates (other than shares of Common Stock which may be deemed
     beneficially  owned through the ownership of the unconverted portion of the
     Notes  or  the  unexercised or unconverted portion of any other security of
     the  Borrower  (including,  without  limitation, the warrants issued by the
     Borrower  pursuant  to  the  Purchase Agreement) subject to a limitation on
     conversion  or  exercise analogous to the limitations contained herein) and
     (2)  the  number  of shares of Common Stock issuable upon the conversion of
     the  portion  of  this Note with respect to which the determination of this
     proviso  is  being made, would result in beneficial ownership by the Holder
     and  its  affiliates of more than 4.99% of the outstanding shares of Common
     Stock.  For  purposes of the proviso to the immediately preceding sentence,
     beneficial  ownership  shall be determined in accordance with Section 13(d)
     of  the  Securities Exchange Act of 1934, as amended, and Regulations 13D-G
     thereunder, except as otherwise provided in clause (1) of such proviso. The
     number  of shares of Common Stock to be issued upon each conversion of this
     Note  shall  be  determined  by  dividing the Conversion Amount (as defined
     below)  by  the  applicable  Conversion  Price  then  in effect on the date
     specified  in  the  notice  of  conversion,  in the form attached hereto as
     Exhibit  A  (the  "NOTICE OF CONVERSION"), delivered to the Borrower by the
     Holder  in  accordance  with Section 1.4 below; provided that the Notice of
     Conversion  is  submitted  by facsimile (or by other means resulting in, or
     reasonably expected to result in, notice) to the Borrower before 7:00 p.m.,
     New  York,  New  York time on such conversion date (the "CONVERSION DATE").
     The  term "CONVERSION AMOUNT" means, with respect to any conversion of this
     Note,  the  sum of (1) the principal amount of this Note to be converted in
     such  conversion  plus  (2)  accrued  and  unpaid interest, if any, on such
                       ----
     principal  amount  at  the  interest  rates  provided  in  this Note to the
     Conversion  Date plus (3) Default Interest, if any, on the amounts referred
                      ----
     to  in  the  immediately  preceding  clauses (1) and/or (2) plus (4) at the
                                                                 ----
     Holder's  option,  any  amounts owed to the Holder pursuant to Sections 1.3
     and  1.4(g) hereof or pursuant to Section 2(c) of that certain Registration
     Rights Agreement, dated as of May 18, 2006, executed in connection with the
     initial  issuance of this Note and the other Notes issued on the Issue Date
     (the  "REGISTRATION  RIGHTS  AGREEMENT").

<PAGE>

          1.2  CONVERSION  PRICE.
               -----------------

               (A)  CALCULATION  OF CONVERSION PRICE. The Conversion Price shall
                    --------------------------------
          be  the  lesser  of (i) the Fixed Conversion Price (as defined herein)
          (subject,  in  each  case,  to equitable adjustments for stock splits,
          stock  dividends  or  rights offerings by the Borrower relating to the
          Borrower's  securities  or  the  securities  of  any subsidiary of the
          Borrower,  combinations,  recapitalization,  reclassifications,
          extraordinary  distributions and similar events), (ii) seventy percent
          (70%)  of  the  average of the five (5) lowest VWAPs of the Borrower's
          Common Stock during the 20 most recent completed Trading Days prior to
          conversion,  (iii) seventy percent (70%) of the VWAP of the Borrower's
          Common  Stock  for  the  most  recent  completed  Trading Day prior to
          conversion,  and (iv) seventy percent (70%) of the most recent closing
          bid  price  of  the  Borrower's  Common  Stock  prior  to conversion..
          Notwithstanding  the foregoing, in the event that the Conversion Price
          is  less than $0.001 (the "MINIMUM CONVERSION PRICE"), then the Holder
          shall not be entitled to convert any portion of this Note. The Minimum
          Conversion  Price  may  be  waived by the Borrower at any time, in the
          Borrower's  sole  discretion.

          "VWAP"  means,  for  any  security  as  of  any  date,  the  volume
          weighted  average  price  on  the Over-the-Counter Bulletin Board (the
          "OTCBB")  as  reported  by  a  reliable  reporting  service  mutually
          acceptable  to and hereafter designated by Holder and the Borrower or,
          if  the  OTCBB  is not the principal trading market for such security,
          the  intraday  trading  price  of  such  security  on  the  principal
          securities exchange or trading market where such security is listed or
          traded  or, if no intraday trading price of such security is available
          in  any  of the foregoing manners, the average of the intraday trading
          prices  of  any market makers for such security that are listed in the
          "pink  sheets"  by  the  National  Quotation  Bureau, Inc. If the VWAP
          cannot  be  calculated  for  such  security on such date in the manner
          provided  above,  the  Trading Price shall be the fair market value as
          mutually  determined  by  the  Borrower  and  the Holder for which the
          calculation  of  the  VWAP  is  required  in  order  to  determine the
          Conversion  Price  of  such Notes. "TRADING DAY" shall mean any day on
          which  the  Common  Stock is traded for any period on the OTCBB, or on
          the  principal securities exchange or other securities market on which
          the  Common  Stock  is then being traded. The "FIXED CONVERSION PRICE"
          shall  mean  $0.15.

               (B)  CONVERSION PRICE DURING MAJOR ANNOUNCEMENTS. Notwithstanding
                    -------------------------------------------
          anything contained in Section 1.2(a) to the contrary, in the event the
          Borrower  (i)  makes  a  public  announcement  that  it  intends  to
          consolidate  or  merge with any other corporation (other than a merger
          in  which  the Borrower is the surviving or continuing corporation and
          its  capital  stock  is  unchanged)  or  sell  or  transfer  all  or
          substantially  all  of  the assets of the Borrower or (ii) any person,
          group  or  entity (including the Borrower) publicly announces a tender
          offer  to  purchase 50% or more of the Borrower's Common Stock (or any
          other  takeover  scheme)  (the date of the announcement referred to in
          clause  (i)  or  (ii)  is hereinafter referred to as the "ANNOUNCEMENT
          DATE"),  then  the  Conversion  Price  shall,  effective  upon  the
          Announcement Date and continuing through the Adjusted Conversion Price
          Termination  Date (as defined below), be equal to the lower of (x) the

<PAGE>

          Conversion  Price  which  would  have been applicable for a Conversion
          occurring  on  the Announcement Date and (y) the Conversion Price that
          would  otherwise  be in effect. From and after the Adjusted Conversion
          Price  Termination  Date,  the Conversion Price shall be determined as
          set  forth  in  this  Section  1.2(a).  For purposes hereof, "ADJUSTED
          CONVERSION  PRICE  TERMINATION  DATE"  shall mean, with respect to any
          proposed  transaction or tender offer (or takeover scheme) for which a
          public  announcement  as  contemplated by this Section 1.2(b) has been
          made,  the  date  upon  which  the Borrower (in the case of clause (i)
          above)  or  the  person,  group  or entity (in the case of clause (ii)
          above)  consummates  or  publicly  announces  the  termination  or
          abandonment  of  the proposed transaction or tender offer (or takeover
          scheme)  which  caused  this  Section  1.2(b)  to  become  operative.

          1.3 AUTHORIZED SHARES. Subject to the Stockholder Approval (as defined
              -----------------
     in  the  Agreement),  the  Borrower  covenants  that  during the period the
     conversion  right exists, the Borrower will reserve from its authorized and
     unissued  Common  Stock a sufficient number of shares, free from preemptive
     rights,  to  provide  for  the  issuance  of  Common  Stock  upon  the full
     conversion of this Note and the other Notes issued pursuant to the Purchase
     Agreement.  The  Borrower  is  required at all times to have authorized and
     reserved  a  minimum  of  two  times  the number of shares that is actually
     issuable  upon  full conversion of the Notes (based on the Conversion Price
     of  the  Notes or the Exercise Price of the Warrants in effect from time to
     time)  (the "RESERVED AMOUNT"). The Reserved Amount shall be increased from
     time  to  time  in  accordance  with the Borrower's obligations pursuant to
     Section  4(h)  of the Purchase Agreement. The Borrower represents that upon
     issuance,  such  shares  will  be  duly  and validly issued, fully paid and
     non-assessable.  In addition, if the Borrower shall issue any securities or
     make  any  change to its capital structure which would change the number of
     shares  of  Common  Stock  into which the Notes shall be convertible at the
     then  current  Conversion  Price,  the Borrower shall at the same time make
     proper  provision  so that thereafter there shall be a sufficient number of
     shares  of  Common  Stock  authorized  and  reserved,  free from preemptive
     rights,  for  conversion  of  the  outstanding  Notes.  The  Borrower  (i)
     acknowledges that it has irrevocably instructed its transfer agent to issue
     certificates  for  the  Common Stock issuable upon conversion of this Note,
     and  (ii)  agrees  that  its  issuance  of  this Note shall constitute full
     authority  to  its  officers  and  agents  who are charged with the duty of
     executing  stock  certificates  to  execute  and  issue  the  necessary
     certificates  for  shares  of Common Stock in accordance with the terms and
     conditions  of  this  Note.

          If,  at any time a Holder of this Note submits a Notice of Conversion,
     and the Borrower does not have sufficient authorized but unissued shares of
     Common  Stock  available  to  effect such conversion in accordance with the
     provisions  of  this Article I (a "CONVERSION DEFAULT"), subject to Section
     4.8,  the  Borrower  shall  issue to the Holder all of the shares of Common
     Stock  which  are  then available to effect such conversion. The portion of
     this  Note  which  the  Holder  included in its Conversion Notice and which
     exceeds  the  amount  which  is  then  convertible into available shares of
     Common  Stock  (the "EXCESS AMOUNT") shall, notwithstanding anything to the
     contrary  contained  herein,  not  be  convertible  into  Common  Stock  in
     accordance  with  the terms hereof until (and at the Holder's option at any
     time  after)  the  date additional shares of Common Stock are authorized by
     the  Borrower to permit such conversion, at which time the Conversion Price
     in  respect  thereof shall be the lesser of (i) the Conversion Price on the
     Conversion Default Date (as defined below) and (ii) the Conversion Price on
     the Conversion Date thereafter elected by the Holder in respect thereof. In
     addition,  the  Borrower  shall  pay  to  the  Holder payments ("CONVERSION
     DEFAULT PAYMENTS") for a Conversion Default in the amount of (x) the sum of
     (1)  the  then  outstanding  principal  amount ------ of this Note plus (2)
     accrued  and  unpaid  interest  on  the  unpaid

<PAGE>

     principal  amount  of  this  Note  through  the  Authorization  Date  (as
     defined  below)  plus (3) Default Interest, if any, on the amounts referred
                      ----
     to  in  clauses  (1)  and/or  (2), multiplied by (y) .24, multiplied by (z)
                                        -------------          -------------
     (N/365),  where  N  =  the number of days from the day the holder submits a
     Notice  of  Conversion giving rise to a Conversion Default (the "CONVERSION
     DEFAULT  DATE")  to  the  date (the "AUTHORIZATION DATE") that the Borrower
     authorizes  a  sufficient  number  of  shares  of  Common  Stock  to effect
     conversion  of  the  full  outstanding  principal balance of this Note. The
     Borrower  shall  use  its  best efforts to authorize a sufficient number of
     shares  of Common Stock as soon as practicable following the earlier of (i)
     such  time  that  the  Holder  notifies  the  Borrower or that the Borrower
     otherwise  becomes  aware  that  there  are  or likely will be insufficient
     authorized  and unissued shares to allow full conversion thereof and (ii) a
     Conversion  Default.  The  Borrower  shall send notice to the Holder of the
     authorization  of additional shares of Common Stock, the Authorization Date
     and the amount of Holder's accrued Conversion Default Payments. The accrued
     Conversion  Default  Payments for each calendar month shall be paid in cash
     or  shall  be  convertible  into  Common  Stock  (at such time as there are
     sufficient  authorized shares of Common Stock) at the applicable Conversion
     Price,  at  the  Borrower's  option,  as  follows:

               (A) In the event Holder elects to take such payment in cash, cash
          payment  shall  be  made to Holder by the fifth (5th) day of the month
          following  the  month  in  which  it  has  accrued;  and

               (B)  In  the  event  Holder elects to take such payment in Common
          Stock, the Holder may convert such payment amount into Common Stock at
          the  Conversion  Price (as in effect at the time of conversion) at any
          time  after the fifth day of the month following the month in which it
          has accrued in accordance with the terms of this Article I (so long as
          there  is  then  a  sufficient  number  of authorized shares of Common
          Stock).

               The Holder's election shall be made in writing to the Borrower at
          any time prior to 6:00 p.m., New York, New York time, on the third day
          of  the month following the month in which Conversion Default payments
          have  accrued.  If  no election is made, the Holder shall be deemed to
          have  elected to receive cash. Nothing herein shall limit the Holder's
          right  to  pursue  actual  damages  (to  the  extent  in excess of the
          Conversion  Default Payments) for the Borrower's failure to maintain a
          sufficient  number  of  authorized  shares  of  Common Stock, and each
          holder shall have the right to pursue all remedies available at law or
          in  equity (including degree of specific performance and/or injunctive
          relief).

          1.4  METHOD  OF  CONVERSION.
               ----------------------

               (A)  MECHANICS  OF  CONVERSION. Subject to Section 1.1, this Note
                    -------------------------
          may  be  converted  by the Holder in whole or in part at any time from
          time to time after the Issue Date, by (A) submitting to the Borrower a
          Notice  of  Conversion  (by  facsimile  or  other  reasonable means of
          communication  dispatched  on  the Conversion Date prior to 6:00 p.m.,
          New  York,  New  York  time)  and  (B)  subject  to  Section  1.4(b),
          surrendering  this  Note  at  the  principal  office  of the Borrower.

               (B)  SURRENDER  OF NOTE UPON CONVERSION. Notwithstanding anything
                    ----------------------------------
          to  the  contrary  set  forth  herein, upon conversion of this Note in
          accordance  with the terms hereof, the Holder shall not be required to

<PAGE>

          physically  surrender  this  Note  to  the  Borrower unless the entire
          unpaid  principal  amount of this Note is so converted. The Holder and
          the  Borrower  shall  maintain records showing the principal amount so
          converted  and  the  dates of such conversions or shall use such other
          method,  reasonably satisfactory to the Holder and the Borrower, so as
          not  to  require  physical  surrender  of  this  Note  upon  each such
          conversion.  In  the event of any dispute or discrepancy, such records
          of  the Borrower shall be controlling and determinative in the absence
          of  manifest  error.  Notwithstanding the foregoing, if any portion of
          this  Note is converted as aforesaid, the Holder may not transfer this
          Note  unless  the  Holder first physically surrenders this Note to the
          Borrower, whereupon the Borrower will forthwith issue and deliver upon
          the  order  of  the Holder a new Note of like tenor, registered as the
          Holder  (upon  payment by the Holder of any applicable transfer taxes)
          may  request,  representing  in  the  aggregate  the  remaining unpaid
          principal  amount  of  this  Note.  The  Holder  and  any assignee, by
          acceptance  of this Note, acknowledge and agree that, by reason of the
          provisions  of  this  paragraph,  following conversion of a portion of
          this  Note,  the  unpaid and unconverted principal amount of this Note
          represented  by  this  Note  may be less than the amount stated on the
          face  hereof.

               (C)  PAYMENT  OF TAXES. The Borrower shall not be required to pay
                    -----------------
          any  tax  which  may be payable in respect of any transfer involved in
          the  issue  and delivery of shares of Common Stock or other securities
          or  property  on  conversion of this Note in a name other than that of
          the Holder (or in street name), and the Borrower shall not be required
          to  issue  or  deliver any such shares or other securities or property
          unless  and  until the person or persons (other than the Holder or the
          custodian  in  whose  street  name  such shares are to be held for the
          Holder's  account)  requesting the issuance thereof shall have paid to
          the  Borrower  the amount of any such tax or shall have established to
          the  satisfaction  of  the  Borrower  that  such  tax  has  been paid.

               (D) DELIVERY OF COMMON STOCK UPON CONVERSION. Upon receipt by the
                   ----------------------------------------
          Borrower  from  the  Holder  of  a  facsimile  transmission  (or other
          reasonable  means  of communication) of a Notice of Conversion meeting
          the  requirements  for conversion as provided in this Section 1.4, the
          Borrower  shall  issue and deliver or cause to be issued and delivered
          to  or  upon the order of the Holder certificates for the Common Stock
          issuable  upon such conversion within two (2) business days after such
          receipt  (and,  solely  in the case of conversion of the entire unpaid
          principal amount hereof, surrender of this Note) (such second business
          day  being  hereinafter  referred  to as the "DEADLINE") in accordance
          with  the  terms hereof and the Purchase Agreement (including, without
          limitation, in accordance with the requirements of Section 2(g) of the
          Purchase Agreement that certificates for shares of Common Stock issued
          on  or  after  the  effective  date of the Registration Statement upon
          conversion  of  this  Note  shall  not  bear  any restrictive legend).

               (E)  OBLIGATION OF BORROWER TO DELIVER COMMON STOCK. Upon receipt
                    ----------------------------------------------
          by  the Borrower of a Notice of Conversion, the Holder shall be deemed
          to  be  the  holder  of  record of the Common Stock issuable upon such
          conversion, the outstanding principal amount and the amount of accrued
          and  unpaid  interest  on  this  Note shall be reduced to reflect such
          conversion, and, unless the Borrower defaults on its obligations under
          this  Article  I,  all rights with respect to the portion of this Note
          being  so  converted  shall  forthwith  terminate  except the right to
          receive the Common Stock or other securities, cash or other assets, as
          herein  provided, on such conversion. If the Holder shall have given a
          Notice  of Conversion as provided herein, the Borrower's obligation to

<PAGE>

          issue  and deliver the certificates for Common Stock shall be absolute
          and  unconditional,  irrespective  of the absence of any action by the
          Holder  to enforce the same, any waiver or consent with respect to any
          provision  thereof, the recovery of any judgment against any person or
          any  action  to  enforce  the  same,  any  failure  or  delay  in  the
          enforcement  of  any other obligation of the Borrower to the holder of
          record,  or  any  setoff,  counterclaim,  recoupment,  limitation  or
          termination,  or  any  breach  or  alleged breach by the Holder of any
          obligation to the Borrower, and irrespective of any other circumstance
          which  might  otherwise  limit  such obligation of the Borrower to the
          Holder  in  connection  with  such  conversion.  The  Conversion  Date
          specified  in the Notice of Conversion shall be the Conversion Date so
          long  as  the  Notice of Conversion is received by the Borrower before
          6:00  p.m.,  New  York,  New  York  time,  on  such  date.

               (F)  DELIVERY  OF COMMON STOCK BY ELECTRONIC TRANSFER. In lieu of
                    ------------------------------------------------
          delivering  physical  certificates  representing  the  Common  Stock
          issuable  upon  conversion,  provided the Borrower's transfer agent is
          participating  in  the Depository Trust Company ("DTC") Fast Automated
          Securities  Transfer  ("FAST") program, upon request of the Holder and
          its  compliance  with  the  provisions contained in Section 1.1 and in
          this Section 1.4, the Borrower shall use its best efforts to cause its
          transfer  agent  to  electronically transmit the Common Stock issuable
          upon  conversion  to  the  Holder by crediting the account of Holder's
          Prime  Broker with DTC through its Deposit Withdrawal Agent Commission
          ("DWAC")  system.

               (G) FAILURE TO DELIVER COMMON STOCK PRIOR TO DEADLINE. Without in
                   -------------------------------------------------
          any  way  limiting  the  Holder's  right  to  pursue  other  remedies,
          including  actual  damages  and/or equitable relief, the parties agree
          that  if delivery of the Common Stock issuable upon conversion of this
          Note  is  more  than  two  (2)  days  after the Deadline (other than a
          failure due to the circumstances described in Section 1.3 above, which
          failure  shall  be governed by such Section) the Borrower shall pay to
          the  Holder  $2,000  per day in cash, for each day beyond the Deadline
          that the Borrower fails to deliver such Common Stock. Such cash amount
          shall  be  paid  to Holder by the fifth day of the month following the
          month  in  which  it  has  accrued or, at the option of the Holder (by
          written notice to the Borrower by the first day of the month following
          the  month  in  which it has accrued), shall be added to the principal
          amount  of  this Note, in which event interest shall accrue thereon in
          accordance  with  the terms of this Note and such additional principal
          amount  shall  be convertible into Common Stock in accordance with the
          terms  of  this  Note.

          1.5  CONCERNING  THE  SHARES. The shares of Common Stock issuable upon
               -----------------------
     conversion  of  this  Note  may  not be sold or transferred unless (i) such
     shares  are  sold pursuant to an effective registration statement under the
     Act  or  (ii)  the Borrower or its transfer agent shall have been furnished
     with  an  opinion of counsel (which opinion shall be in form, substance and
     scope  customary for opinions of counsel in comparable transactions) to the
     effect that the shares to be sold or transferred may be sold or transferred
     pursuant  to  an  exemption from such registration or (iii) such shares are
     sold  or  transferred  pursuant  to  Rule 144 under the Act (or a successor
     rule)  ("RULE  144")  or (iv) such shares are transferred to an "affiliate"
     (as  defined  in  Rule 144) of the Borrower who agrees to sell or otherwise
     transfer  the shares only in accordance with this Section 1.5 and who is an
     Accredited  Investor  (as  defined  in  the  Purchase Agreement). Except as
     otherwise  provided  in  the Purchase Agreement (and subject to the removal
     provisions  set forth below), until such time as the shares of Common Stock

<PAGE>

     issuable upon conversion of this Note have been registered under the Act as
     contemplated  by the Registration Rights Agreement or otherwise may be sold
     pursuant to Rule 144 without any restriction as to the number of securities
     as of a particular date that can then be immediately sold, each certificate
     for  shares  of Common Stock issuable upon conversion of this Note that has
     not been so included in an effective registration statement or that has not
     been  sold  pursuant to an effective registration statement or an exemption
     that  permits  removal  of the legend, shall bear a legend substantially in
     the  following  form,  as  appropriate:

          "THE  SECURITIES  REPRESENTED  BY  THIS  CERTIFICATE  HAVE  NOT  BEEN
          REGISTERED  UNDER  THE  SECURITIES  ACT  OF  1933,  AS  AMENDED.  THE
          SECURITIES  MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF
          AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER SAID ACT,
          OR  AN  OPINION  OF COUNSEL IN FORM, SUBSTANCE AND SCOPE CUSTOMARY FOR
          OPINIONS  OF  COUNSEL IN COMPARABLE TRANSACTIONS, THAT REGISTRATION IS
          NOT  REQUIRED  UNDER  SAID  ACT  UNLESS  SOLD  PURSUANT TO RULE 144 OR
          REGULATION  S  UNDER  SAID  ACT."

          The  legend  set  forth  above shall be removed and the Borrower shall
     issue  to the Holder a new certificate therefor free of any transfer legend
     if (i) the Borrower or its transfer agent shall have received an opinion of
     counsel,  in form, substance and scope customary for opinions of counsel in
     comparable  transactions,  to  the effect that a public sale or transfer of
     such  Common  Stock  may be made without registration under the Act and the
     shares  are  so sold or transferred, (ii) such Holder provides the Borrower
     or  its  transfer  agent  with  reasonable assurances that the Common Stock
     issuable  upon  conversion  of this Note (to the extent such securities are
     deemed to have been acquired on the same date) can be sold pursuant to Rule
     144  or  (iii)  in the case of the Common Stock issuable upon conversion of
     this  Note,  such  security  is  registered for sale by the Holder under an
     effective  registration  statement  filed under the Act or otherwise may be
     sold  pursuant  to  Rule  144  without  any restriction as to the number of
     securities  as  of  a  particular  date  that can then be immediately sold.
     Nothing  in  this  Note shall (i) limit the Borrower's obligation under the
     Registration  Rights  Agreement  or  (ii)  affect  in  any way the Holder's
     obligations to comply with applicable prospectus delivery requirements upon
     the  resale  of  the  securities  referred  to  herein.

          1.6  EFFECT  OF  CERTAIN  EVENTS.
               ---------------------------

               (A)  EFFECT  OF  MERGER, CONSOLIDATION, ETC. At the option of the
                    --------------------------------------
          Holder,  the  sale,  conveyance or disposition of all or substantially
          all of the assets of the Borrower, the effectuation by the Borrower of
          a transaction or series of related transactions in which more than 50%
          of  the  voting  power  of  the  Borrower  is  disposed  of,  or  the
          consolidation,  merger  or  other business combination of the Borrower
          with  or  into any other Person (as defined below) or Persons when the
          Borrower  is  not  the  survivor  shall either: (i) be deemed to be an
          Event  of  Default  (as  defined in Article III) pursuant to which the
          Borrower  shall be required to pay to the Holder upon the consummation
          of  and  as  a  condition  to  such transaction an amount equal to the
          Default Amount (as defined in Article III) or (ii) be treated pursuant
          to  Section  1.6(b)  hereof.  "PERSON"  shall  mean  any  individual,
          corporation,  limited  liability  company,  partnership,  association,
          trust  or  other  entity  or  organization.

<PAGE>

               (B) ADJUSTMENT DUE TO MERGER, CONSOLIDATION, ETC. If, at any time
                   --------------------------------------------
          when  this  Note  is issued and outstanding and prior to conversion of
          all  of  the Notes, there shall be any merger, consolidation, exchange
          of  shares,  recapitalization, reorganization, or other similar event,
          as  a  result of which shares of Common Stock of the Borrower shall be
          changed into the same or a different number of shares of another class
          or  classes  of stock or securities of the Borrower or another entity,
          or  in  case  of any sale or conveyance of all or substantially all of
          the  assets  of  the  Borrower other than in connection with a plan of
          complete  liquidation  of  the  Borrower, then the Holder of this Note
          shall  thereafter  have  the  right to receive upon conversion of this
          Note,  upon  the  basis  and  upon  the terms and conditions specified
          herein  and  in  lieu  of  the  shares  of  Common  Stock  immediately
          theretofore issuable upon conversion, such stock, securities or assets
          which  the  Holder  would  have  been  entitled  to  receive  in  such
          transaction  had this Note been converted in full immediately prior to
          such  transaction (without regard to any limitations on conversion set
          forth  herein),  and  in any such case appropriate provisions shall be
          made  with  respect  to the rights and interests of the Holder of this
          Note  to  the  end  that  the  provisions  hereof  (including, without
          limitation,  provisions  for adjustment of the Conversion Price and of
          the  number  of  shares  issuable  upon  conversion of the Note) shall
          thereafter  be applicable, as nearly as may be practicable in relation
          to any securities or assets thereafter deliverable upon the conversion
          hereof.  The  Borrower  shall  not effect any transaction described in
          this  Section  1.6(b)  unless  (a)  it  first  gives,  to  the  extent
          practicable,  thirty  (30) days prior written notice (but in any event
          at least fifteen (15) days prior written notice) of the record date of
          the special meeting of shareholders to approve, or if there is no such
          record date, the consummation of, such merger, consolidation, exchange
          of  shares, recapitalization, reorganization or other similar event or
          sale  of  assets  (during  which  time the Holder shall be entitled to
          convert this Note) and (b) the resulting successor or acquiring entity
          (if not the Borrower) assumes by written instrument the obligations of
          this  Section  1.6(b).  The  above provisions shall similarly apply to
          successive  consolidations,  mergers,  sales,  transfers  or  share
          exchanges.

               (C) ADJUSTMENT DUE TO DISTRIBUTION. If the Borrower shall declare
                   ------------------------------
          or  make  any  distribution  of  its  assets (or rights to acquire its
          assets) to holders of Common Stock as a dividend, stock repurchase, by
          way  of  return  of  capital  or  otherwise (including any dividend or
          distribution  to  the  Borrower's  shareholders  in cash or shares (or
          rights  to  acquire  shares) of capital stock of a subsidiary (i.e., a
          spin-off))  (a  "DISTRIBUTION"), then the Holder of this Note shall be
          entitled,  upon  any  conversion of this Note after the date of record
          for determining shareholders entitled to such Distribution, to receive
          the  amount of such assets which would have been payable to the Holder
          with  respect  to  the  shares  of  Common  Stock  issuable  upon such
          conversion  had  such  Holder been the holder of such shares of Common
          Stock  on  the  record  date  for  the  determination  of shareholders
          entitled  to  such  Distribution.

               (D) ADJUSTMENT DUE TO DILUTIVE ISSUANCE. If, at any time when any
                   -----------------------------------
          Notes  are issued and outstanding, the Borrower issues or sells, or in
          accordance with this Section 1.6(d) hereof is deemed to have issued or
          sold,  any  shares  of  Common  Stock  for  no  consideration or for a
          consideration  per  share  (before deduction of reasonable expenses or
          commissions  or  underwriting  discounts  or  allowances in connection
          therewith)  less than the Fixed Conversion Price in effect on the date
          of  such  issuance (or deemed issuance) of such shares of Common Stock
          (a  "DILUTIVE ISSUANCE"), then immediately upon the Dilutive Issuance,

<PAGE>

          the  Fixed  Conversion  Price  will  be  reduced  to the amount of the
          consideration  per  share  received  by  the Borrower in such Dilutive
          Issuance;  provided  that  only  one  adjustment will be made for each
          Dilutive  Issuance.

               The  Borrower  shall  be  deemed to have issued or sold shares of
          Common  Stock  if  the  Borrower  in  any  manner issues or grants any
          warrants,  rights  or  options  (not  including  employee stock option
          plans), whether or not immediately exercisable, to subscribe for or to
          purchase  Common  Stock  or  other  securities  convertible  into  or
          exchangeable  for  Common  Stock  ("CONVERTIBLE  SECURITIES")  (such
          warrants,  rights  and options to purchase Common Stock or Convertible
          Securities are hereinafter referred to as "OPTIONS") and the price per
          share  for  which  Common  Stock is issuable upon the exercise of such
          Options  is  less than the Fixed Conversion Price then in effect, then
          the Fixed Conversion Price shall be equal to such price per share. For
          purposes  of  the  preceding  sentence, the "price per share for which
          Common  Stock  is  issuable  upon  the  exercise  of  such Options" is
          determined  by  dividing  (i)  the  total  amount, if any, received or
          receivable  by  the  Borrower  as  consideration  for  the issuance or
          granting  of  all  such  Options, plus the minimum aggregate amount of
          additional  consideration,  if  any,  payable to the Borrower upon the
          exercise  of  all  such  Options,  plus,  in  the  case of Convertible
          Securities  issuable  upon  the  exercise of such Options, the minimum
          aggregate  amount  of  additional  consideration  payable  upon  the
          conversion or exchange thereof at the time such Convertible Securities
          first  become  convertible  or exchangeable, by (ii) the maximum total
          number  of  shares  of  Common Stock issuable upon the exercise of all
          such  Options  (assuming full conversion of Convertible Securities, if
          applicable).  No  further  adjustment  to the Conversion Price will be
          made  upon  the actual issuance of such Common Stock upon the exercise
          of  such  Options  or  upon  the conversion or exchange of Convertible
          Securities  issuable  upon  exercise  of  such  Options.

               Additionally, the Borrower shall be deemed to have issued or sold
          shares  of  Common Stock if the Borrower in any manner issues or sells
          any  Convertible  Securities,  whether  or not immediately convertible
          (other than where the same are issuable upon the exercise of Options),
          and  the  price per share for which Common Stock is issuable upon such
          conversion or exchange is less than the Fixed Conversion Price then in
          effect,  then  the Fixed Conversion Price shall be equal to such price
          per  share. For the purposes of the preceding sentence, the "price per
          share  for  which  Common  Stock  is  issuable upon such conversion or
          exchange"  is  determined  by  dividing  (i) the total amount, if any,
          received  or  receivable  by  the  Borrower  as  consideration for the
          issuance  or sale of all such Convertible Securities, plus the minimum
          aggregate  amount  of additional consideration, if any, payable to the
          Borrower  upon  the  conversion  or  exchange thereof at the time such
          Convertible  Securities  first  become convertible or exchangeable, by
          (ii)  the maximum total number of shares of Common Stock issuable upon
          the  conversion  or  exchange  of  all such Convertible Securities. No
          further adjustment to the Fixed Conversion Price will be made upon the
          actual  issuance  of  such Common Stock upon conversion or exchange of
          such  Convertible  Securities.

               (E)  PURCHASE  RIGHTS.  If, at any time when any Notes are issued
                    ----------------
          and  outstanding,  the  Borrower  issues any convertible securities or
          rights  to purchase stock, warrants, securities or other property (the
          "PURCHASE  RIGHTS")  pro  rata  to  the record holders of any class of
          Common  Stock,  then  the  Holder  of  this  Note  will be entitled to
          acquire,  upon  the  terms  applicable  to  such  Purchase Rights, the
          aggregate  Purchase  Rights  which  such Holder could have acquired if
          such  Holder  had held the number of shares of Common Stock acquirable
          upon  complete  conversion  of  this  Note  (without  regard  to  any

<PAGE>

          limitations  on  conversion  contained  herein) immediately before the
          date  on  which  a  record is taken for the grant, issuance or sale of
          such  Purchase  Rights  or, if no such record is taken, the date as of
          which  the record holders of Common Stock are to be determined for the
          grant,  issue  or  sale  of  such  Purchase  Rights.

               (F) NOTICE OF ADJUSTMENTS. Upon the occurrence of each adjustment
                   ---------------------
          or  readjustment  of  the  Conversion  Price as a result of the events
          described  in  this  Section  1.6, the Borrower, at its expense, shall
          promptly  compute  such  adjustment  or  readjustment  and prepare and
          furnish  to  the Holder of a certificate setting forth such adjustment
          or  readjustment  and  showing  in  detail  the  facts upon which such
          adjustment  or  readjustment  is  based.  The Borrower shall, upon the
          written  request  at  any time of the Holder, furnish to such Holder a
          like  certificate  setting  forth (i) such adjustment or readjustment,
          (ii)  the  Conversion Price at the time in effect and (iii) the number
          of  shares of Common Stock and the amount, if any, of other securities
          or property which at the time would be received upon conversion of the
          Note.

               1.7  TRADING  MARKET  LIMITATIONS.  Unless  permitted  by  the
                    ----------------------------
          applicable rules and regulations of the principal securities market on
          which the Common Stock is then listed or traded, in no event shall the
          Borrower  issue  upon conversion of or otherwise pursuant to this Note
          and  the  other  Notes  issued pursuant to the Purchase Agreement more
          than  the  maximum  number of shares of Common Stock that the Borrower
          can  issue  pursuant  to  any  rule  of  the  principal  United States
          securities  market  on  which  the  Common  Stock  is then traded (the
          "MAXIMUM  SHARE  AMOUNT"),  which  shall be 19.99% of the total shares
          outstanding  on  the  Closing  Date  (as  defined  in  the  Purchase
          Agreement),  subject  to  equitable  adjustment  from time to time for
          stock  splits,  stock dividends, combinations, capital reorganizations
          and  similar  events  relating to the Common Stock occurring after the
          date  hereof.  Once the Maximum Share Amount has been issued (the date
          of which is hereinafter referred to as the "MAXIMUM CONVERSION DATE"),
          if  the  Borrower fails to eliminate any prohibitions under applicable
          law  or  the  rules  or regulations of any stock exchange, interdealer
          quotation  system  or  other  self-regulatory  organization  with
          jurisdiction  over  the  Borrower  or  any  of  its  securities on the
          Borrower's  ability  to  issue shares of Common Stock in excess of the
          Maximum Share Amount (a "TRADING MARKET PREPAYMENT EVENT"), in lieu of
          any  further  right  to convert this Note, and in full satisfaction of
          the  Borrower's obligations under this Note, the Borrower shall pay to
          the  Holder,  within  fifteen  (15)  business  days  of  the  Maximum
          Conversion  Date  (the  "TRADING  MARKET  PREPAYMENT DATE"), an amount
          equal  to  130%  times  the  sum of (a) the then outstanding principal
                           -----       ---
          amount of this Note immediately following the Maximum Conversion Date,
          plus (b) accrued and unpaid interest on the unpaid principal amount of
          this  Note  to  the  Trading  Market Prepayment Date, plus (c) Default
                                                                ----
          Interest,  if any, on the amounts referred to in clause (a) and/or (b)
          above,  plus (d) any optional amounts that may be added thereto at the
                  ----
          Maximum  Conversion  Date  by  the Holder in accordance with the terms
          hereof (the then outstanding principal amount of this Note immediately
          following the Maximum Conversion Date, plus the amounts referred to in
          clauses  (b),  (c)  and (d) above shall collectively be referred to as
          the  "REMAINING  CONVERTIBLE  AMOUNT"). With respect to each Holder of
          Notes,  the Maximum Share Amount shall refer to such Holder's pro rata
                                                                        --- ----
          share  thereof determined in accordance with Section 4.8 below. In the
          event  that  the  sum  of (x) the aggregate number of shares of Common
          Stock  issued  upon conversion of this Note and the other Notes issued
          pursuant  to  the  Purchase Agreement plus (y) the aggregate number of
                                                ----
          shares  of  Common  Stock that remain issuable upon conversion of this
          Note  and  the  other Notes issued pursuant to the Purchase Agreement,
          represents  at  least  one hundred percent (100%) of the Maximum Share

<PAGE>

          Amount  (the  "TRIGGERING  EVENT"),  the  Borrower  will  use its best
          efforts  to seek and obtain Shareholder Approval (or obtain such other
          relief  as  will  allow conversions hereunder in excess of the Maximum
          Share  Amount)  as  soon as practicable following the Triggering Event
          and  before  the Maximum Conversion Date. As used herein, "SHAREHOLDER
          APPROVAL"  means  approval  by  the  shareholders  of  the Borrower to
          authorize  the  issuance  of the full number of shares of Common Stock
          which  would  be issuable upon full conversion of the then outstanding
          Notes  but  for  the  Maximum  Share  Amount.

          1.8  STATUS  AS SHAREHOLDER. Upon submission of a Notice of Conversion
               ----------------------
     by a Holder, (i) the shares covered thereby (other than the shares, if any,
     which  cannot  be  issued because their issuance would exceed such Holder's
     allocated  portion of the Reserved Amount or Maximum Share Amount) shall be
     deemed  converted  into shares of Common Stock and (ii) the Holder's rights
     as  a  Holder  of  such  converted  portion  of  this  Note shall cease and
     terminate, excepting only the right to receive certificates for such shares
     of  Common Stock and to any remedies provided herein or otherwise available
     at  law or in equity to such Holder because of a failure by the Borrower to
     comply  with  the  terms  of this Note. Notwithstanding the foregoing, if a
     Holder  has  not received certificates for all shares of Common Stock prior
     to  the tenth (10th) business day after the expiration of the Deadline with
     respect  to  a  conversion of any portion of this Note for any reason, then
     (unless  the  Holder  otherwise  elects to retain its status as a holder of
     Common  Stock  by  so  notifying  the Borrower) the Holder shall regain the
     rights  of  a Holder of this Note with respect to such unconverted portions
     of  this  Note  and the Borrower shall, as soon as practicable, return such
     unconverted  Note  to  the Holder or, if the Note has not been surrendered,
     adjust  its  records to reflect that such portion of this Note has not been
     converted.  In  all  cases,  the  Holder shall retain all of its rights and
     remedies  (including,  without  limitation,  (i)  the  right  to  receive
     Conversion  Default Payments pursuant to Section 1.3 to the extent required
     thereby  for  such Conversion Default and any subsequent Conversion Default
     and  (ii) the right to have the Conversion Price with respect to subsequent
     conversions  determined  in accordance with Section 1.3) for the Borrower's
     failure  to  convert  this  Note.

                          ARTICLE II. CERTAIN COVENANTS

          2.1 DISTRIBUTIONS ON CAPITAL STOCK. So long as the Borrower shall have
              ------------------------------
     any obligation under this Note, the Borrower shall not without the Holder's
     written  consent  (a)  pay,  declare  or  set  apart  for such payment, any
     dividend  or  other  distribution  (whether  in  cash,  property  or  other
     securities)  on  shares  of capital stock other than dividends on shares of
     Common Stock solely in the form of additional shares of Common Stock or (b)
     directly  or indirectly or through any subsidiary make any other payment or
     distribution  in  respect  of  its  capital  stock except for distributions
     pursuant  to  any shareholders' rights plan which is approved by a majority
     of  the  Borrower's  disinterested  directors.

          2.2  RESTRICTION  ON  STOCK REPURCHASES. So long as the Borrower shall
               ----------------------------------
     have  any  obligation  under  this Note, the Borrower shall not without the
     Holder's  written  consent redeem, repurchase or otherwise acquire (whether
     for  cash  or in exchange for property or other securities or otherwise) in
     any one transaction or series of related transactions any shares of capital
     stock  of  the  Borrower  or any warrants, rights or options to purchase or
     acquire  any  such  shares.

<PAGE>

          2.3  BORROWINGS.  So  long  as  the Borrower shall have any obligation
               ----------
     under  this  Note,  the  Borrower  shall  not, without the Holder's written
     consent,  create,  incur,  assume  or  suffer  to  exist  any liability for
     borrowed money, except (a) borrowings in existence or committed on the date
     hereof  and  of  which the Borrower has informed Holder in writing prior to
     the  date  hereof,  (b)  indebtedness  to  trade  creditors  or  financial
     institutions incurred in the ordinary course of business or (c) borrowings,
     the  proceeds  of  which  shall  be  used  to  repay  this  Note.

          2.4  SALE OF ASSETS. So long as the Borrower shall have any obligation
               --------------
     under  this  Note,  the  Borrower  shall  not, without the Holder's written
     consent, sell, lease or otherwise dispose of any significant portion of its
     assets  outside  the  ordinary  course  of  business.  Any  consent  to the
     disposition  of  any  assets  may  be conditioned on a specified use of the
     proceeds  of  disposition.

          2.5  ADVANCES  AND  LOANS.  So  long  as  the  Borrower shall have any
               --------------------
     obligation  under  this  Note, the Borrower shall not, without the Holder's
     written  consent,  lend  money, give credit or make advances to any person,
     firm,  joint  venture  or  corporation,  including,  without  limitation,
     officers,  directors,  employees,  subsidiaries  and  affiliates  of  the
     Borrower,  except  loans, credits or advances (a) in existence or committed
     on  the  date  hereof and which the Borrower has informed Holder in writing
     prior  to  the  date hereof, (b) made in the ordinary course of business or
     (c)  not  in  excess  of  $50,000.

          2.6  CONTINGENT  LIABILITIES.  So  long as the Borrower shall have any
               -----------------------
     obligation  under  this  Note, the Borrower shall not, without the Holder's
     written  consent,  which  shall  not  be  unreasonably  withheld,  assume,
     guarantee,  endorse,  contingently  agree  to  purchase or otherwise become
     liable  upon the obligation of any person, firm, partnership, joint venture
     or  corporation,  except  by  the endorsement of negotiable instruments for
     deposit  or collection and except assumptions, guarantees, endorsements and
     contingencies  (a)  in  existence or committed on the date hereof and which
     the  Borrower  has informed Holder in writing prior to the date hereof, and
     (b)  similar  transactions  in  the  ordinary  course  of  business.

          2.7  RIGHT  OF FIRST REFUSAL ON OTHER FINANCING. In the event that the
               ------------------------------------------
     Borrower obtains a commitment for any other financing (either debt, equity,
     or  a  combination  thereof)  which  is  to  close  during the term of this
     Debenture,  Holder  shall be entitled to a right of first refusal to enable
     it  to,  at  Holder's  option,  match the terms of the other financing. The
     Borrower  shall  deliver  to Holder, at least 10 days prior to the proposed
     closing  date  of  such transaction, written notice describing the proposed
     transaction,  including  the  terms  and  conditions thereof, and providing
     Holder an option during the 10 day period following delivery of such notice
     to  provide  the  financing  being  offered in such transaction on the same
     terms  as  contemplated  by  such transaction. For purposes of this Section
     2.7,  Borrower  shall  include  all  subsidiaries  in  which The World Golf
     League,  Inc. holds a twenty-five percent (25%) or greater interest. If the
     Holder declines to exercise its rights of first refusal, Holder may require
     Borrower  to  repay 150% of the outstanding principal, and accrued interest
     and  penalties,  if  any, owed pursuant to this Note, which repayment would
     occur  simultaneously  with  the  subsequent  financing.

<PAGE>

                         ARTICLE III. EVENTS OF DEFAULT

          If  any  of  the  following  events  of  default  (each,  an "EVENT OF
     DEFAULT")  shall  occur:

          3.1  FAILURE  TO  PAY PRINCIPAL OR INTEREST. The Borrower fails to pay
               --------------------------------------
     the  principal hereof or interest thereon when due on this Note, whether at
     maturity,  upon  a Trading Market Prepayment Event pursuant to Section 1.7,
     upon  acceleration  or  otherwise;

          3.2  CONVERSION  AND THE SHARES. The Borrower fails to issue shares of
               --------------------------
     Common  Stock  to  the  Holder  (or announces or threatens that it will not
     honor  its  obligation  to  do  so)  upon  exercise  by  the  Holder of the
     conversion  rights  of the Holder in accordance with the terms of this Note
     (for  a  period of at least sixty (60) days, if such failure is solely as a
     result  of  the  circumstances  governed by Section 1.3 and the Borrower is
     using its best efforts to authorize a sufficient number of shares of Common
     Stock  as  soon  as  practicable),  fails to transfer or cause its transfer
     agent  to transfer (electronically or in certificated form) any certificate
     for  shares  of  Common  Stock  issued  to the Holder upon conversion of or
     otherwise  pursuant  to  this Note as and when required by this Note or the
     Registration  Rights  Agreement,  or fails to remove any restrictive legend
     (or  to  withdraw any stop transfer instructions in respect thereof) on any
     certificate  for  any  shares  of  Common  Stock  issued to the Holder upon
     conversion  of  or  otherwise pursuant to this Note as and when required by
     this  Note or the Registration Rights Agreement (or makes any announcement,
     statement  or  threat  that  it  does  not  intend to honor the obligations
     described  in  this  paragraph) and any such failure shall continue uncured
     (or  any  announcement,  statement  or  threat not to honor its obligations
     shall  not  be  rescinded  in writing) for ten (10) days after the Borrower
     shall  have  been  notified  thereof  in  writing  by  the  Holder;

          3.3  FAILURE  TO  TIMELY FILE REGISTRATION OR EFFECT REGISTRATION. The
               ------------------------------------------------------------
     Borrower  fails  to file the Registration Statement within thirty (30) days
     following the Closing Date (as defined in the Purchase Agreement) or obtain
     effectiveness  with  the  Securities  and  Exchange  Commission  of  the
     Registration  Statement  within one hundred twenty (120) days following the
     Closing  Date  (as  defined in the Purchase Agreement) or such Registration
     Statement  lapses  in  effect (or sales cannot otherwise be made thereunder
     effective,  whether  by  reason  of  the  Borrower's  failure  to  amend or
     supplement  the  prospectus  included  therein  in  accordance  with  the
     Registration  Rights  Agreement  or  otherwise)  for  more  than  ten  (10)
     consecutive  days  or twenty (20) days in any twelve month period after the
     Registration  Statement  becomes  effective;

          3.4  BREACH  OF COVENANTS. The Borrower breaches any material covenant
               --------------------
     or  other  material term or condition contained in Sections 1.3, 1.6 or 1.7
     of this Note, or Sections 4(c), 4(e), 4(h), 4(i), 4(j) or 5 of the Purchase
     Agreement  and  such  breach  continues for a period of ten (10) days after
     written  notice  thereof  to  the  Borrower  from  the  Holder;

          3.5  BREACH  OF  REPRESENTATIONS AND WARRANTIES. Any representation or
               ------------------------------------------
     warranty  of  the  Borrower  made  herein or in any agreement, statement or
     certificate  given  in  writing  pursuant  hereto or in connection herewith
     (including, without limitation, the Purchase Agreement and the Registration
     Rights  Agreement),  shall  be  false or misleading in any material respect
     when  made  and  the  breach of which has (or with the passage of time will

<PAGE>

     have) a material adverse effect on the rights of the Holder with respect to
     this  Note,  the  Purchase  Agreement or the Registration Rights Agreement;

          3.6  RECEIVER  OR  TRUSTEE.  The  Borrower  or  any  subsidiary of the
               ---------------------
     Borrower  shall  make  an assignment for the benefit of creditors, or apply
     for  or consent to the appointment of a receiver or trustee for it or for a
     substantial part of its property or business, or such a receiver or trustee
     shall  otherwise  be  appointed;

          3.7  JUDGMENTS.  Any  money judgment, writ or similar process shall be
               ---------
     entered  or filed against the Borrower or any subsidiary of the Borrower or
     any of its property or other assets for more than $50,000, and shall remain
     unvacated,  unbonded  or  unstayed  for a period of twenty (20) days unless
     otherwise  consented  to  by  the  Holder,  which  consent  will  not  be
     unreasonably  withheld;

          3.8  BANKRUPTCY. Bankruptcy, insolvency, reorganization or liquidation
               ----------
     proceedings or other proceedings for relief under any bankruptcy law or any
     law  for  the  relief  of  debtors  shall  be  instituted by or against the
     Borrower  or  any  subsidiary  of  the  Borrower;

          3.9 DELISTING OF COMMON STOCK. The Borrower shall fail to maintain the
              -------------------------
     listing  of  the Common Stock on at least one of the OTCBB or an equivalent
     replacement  exchange,  the  Nasdaq  National  Market,  the Nasdaq SmallCap
     Market,  the  New  York  Stock Exchange, or the American Stock Exchange; or

          3.10  DEFAULT  UNDER OTHER NOTES. An Event of Default has occurred and
                --------------------------
     is  continuing under any of the other Notes issued pursuant to the Purchase
     Agreement,

     then,  upon  the  occurrence  and  during  the continuation of any Event of
     Default specified in Section 3.1, 3.2, 3.3, 3.4, 3.5, 3.7, 3.9, or 3.10, at
     the  option  of the holders of a majority of the aggregate principal amount
     of  the  outstanding  Notes  issued  pursuant  to  the  Purchase  Agreement
     exercisable  through the delivery of written notice to the Borrower by such
     Holders  (the  "DEFAULT  NOTICE"),  and  upon the occurrence of an Event of
     Default specified in Section 3.6 or 3.8, the Notes shall become immediately
     due  and  payable  and  the  Borrower  shall  pay  to  the  Holder, in full
     satisfaction  of  its obligations hereunder, an amount equal to the greater
     of  (i)  150% times the sum of (w) the then outstanding principal amount of
                   -----     ---
     this  Note  plus  (x)  accrued  and unpaid interest on the unpaid principal
                 ----
     amount  of  this  Note  to  the  date of payment (the "MANDATORY PREPAYMENT
     DATE")  plus  (y)  Default  Interest, if any, on the amounts referred to in
             ----
     clauses  (w) and/or (x) plus (z) any amounts owed to the Holder pursuant to
                             ----
     Sections  1.3  and  1.4(g)  hereof  or  pursuant  to  Section  2(c)  of the
     Registration  Rights  Agreement  (the  then outstanding principal amount of
     this  Note  to  the date of payment plus the amounts referred to in clauses
                                         ----
     (x),  (y) and (z) shall collectively be known as the "DEFAULT SUM") or (ii)
     the  "parity  value"  of  the Default Sum to be prepaid, where parity value
     means  (a)  the  highest  number  of  shares  of Common Stock issuable upon
     conversion  of or otherwise pursuant to such Default Sum in accordance with
     Article  I,  treating  the  Trading Day immediately preceding the Mandatory
     Prepayment  Date  as  the "Conversion Date" for purposes of determining the
     lowest  applicable  Conversion  Price, unless the Default Event arises as a
     result  of  a breach in respect of a specific Conversion Date in which case
     such  Conversion  Date shall be the Conversion Date), multiplied by (b) the
                                                           -------------
     highest  Closing  Price for the Common Stock during the period beginning on

<PAGE>

     the  date  of  first  occurrence of the Event of Default and ending one day
     prior to the Mandatory Prepayment Date (the "DEFAULT AMOUNT") and all other
     amounts  payable  hereunder  shall  immediately become due and payable, all
     without  demand,  presentment  or notice, all of which hereby are expressly
     waived,  together with all costs, including, without limitation, legal fees
     and  expenses,  of collection, and the Holder shall be entitled to exercise
     all  other  rights  and  remedies  available  at  law  or in equity. If the
     Borrower  fails  to pay the Default Amount within five (5) business days of
     written  notice  that such amount is due and payable, then the Holder shall
     have the right at any time, so long as the Borrower remains in default (and
     so  long and to the extent that there are sufficient authorized shares), to
     require the Borrower, upon written notice, to immediately issue, in lieu of
     the  Default  Amount,  the number of shares of Common Stock of the Borrower
     equal to the Default Amount divided by the Conversion Price then in effect.

                            ARTICLE IV. MISCELLANEOUS

          4.1  FAILURE OR INDULGENCE NOT WAIVER. No failure or delay on the part
               --------------------------------
     of  the  Holder  in the exercise of any power, right or privilege hereunder
     shall operate as a waiver thereof, nor shall any single or partial exercise
     of  any  such  power, right or privilege preclude other or further exercise
     thereof or of any other right, power or privileges. All rights and remedies
     existing  hereunder  are cumulative to, and not exclusive of, any rights or
     remedies  otherwise  available.

          4.2 NOTICES. Any notice herein required or permitted to be given shall
              -------
     be  in writing and may be personally served or delivered by courier or sent
     by  United  States mail and shall be deemed to have been given upon receipt
     if  personally  served  (which  shall  include  telephone  line  facsimile
     transmission) or sent by courier or three (3) days after being deposited in
     the  United  States  mail,  certified,  with  postage pre-paid and properly
     addressed,  if  sent  by  mail. For the purposes hereof, the address of the
     Holder shall be as shown on the records of the Borrower; and the address of
     the  Borrower shall be 258 East Altamonte Drive, Altamonte Springs, Florida
     32701,  FACSIMILE  NUMBER:  (407) _______. Both the Holder and the Borrower
     may  change  the  address  for  service by service of written notice to the
     other  as  herein  provided.

          4.3 AMENDMENTS. This Note and any provision hereof may only be amended
              ----------
     by an instrument in writing signed by the Borrower and the Holder. The term
     "Note" and all reference thereto, as used throughout this instrument, shall
     mean  this  instrument (and the other Notes issued pursuant to the Purchase
     Agreement)  as  originally  executed,  or if later amended or supplemented,
     then  as  so  amended  or  supplemented.

          4.4  ASSIGNABILITY.  This  Note shall be binding upon the Borrower and
               -------------
     its successors and assigns, and shall inure to be the benefit of the Holder
     and  its  successors  and  assigns. Each transferee of this Note must be an
     "accredited  investor"  (as  defined  in  Rule  501(a)  of  the  1933 Act).
     Notwithstanding  anything  in  this  Note to the contrary, this Note may be
     pledged  as  collateral  in  connection  with a bona fide margin account or
     other  lending  arrangement.

          4.5  COST  OF  COLLECTION.  If  default is made in the payment of this
               --------------------
     Note,  the  Borrower  shall  pay  the  Holder  hereof  costs of collection,
     including  reasonable  attorneys'  fees.

<PAGE>

          4.6  GOVERNING  LAW.  THIS  NOTE  SHALL  BE  ENFORCED, GOVERNED BY AND
               --------------
     CONSTRUED  IN  ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE
     TO  AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT
     REGARD  TO  THE PRINCIPLES OF CONFLICT OF LAWS. THE BORROWER HEREBY SUBMITS
     TO  THE  EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED
     IN  NEW YORK, NEW YORK WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS NOTE,
     THE  AGREEMENTS  ENTERED  INTO  IN  CONNECTION HEREWITH OR THE TRANSACTIONS
     CONTEMPLATED  HEREBY OR THEREBY. BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE
     OF  AN  INCONVENIENT  FORUM  TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING.
     BOTH  PARTIES  FURTHER AGREE THAT SERVICE OF PROCESS UPON A PARTY MAILED BY
     FIRST  CLASS  MAIL  SHALL  BE  DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF
     PROCESS UPON THE PARTY IN ANY SUCH SUIT OR PROCEEDING. NOTHING HEREIN SHALL
     AFFECT  EITHER PARTY'S RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED
     BY LAW. BOTH PARTIES AGREE THAT A FINAL NON-APPEALABLE JUDGMENT IN ANY SUCH
     SUIT  OR  PROCEEDING  SHALL  BE  CONCLUSIVE  AND  MAY  BE ENFORCED IN OTHER
     JURISDICTIONS  BY  SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER. THE
     PARTY  WHICH  DOES NOT PREVAIL IN ANY DISPUTE ARISING UNDER THIS NOTE SHALL
     BE  RESPONSIBLE  FOR  ALL  FEES  AND  EXPENSES,  INCLUDING ATTORNEYS' FEES,
     INCURRED  BY  THE  PREVAILING  PARTY  IN  CONNECTION  WITH  SUCH  DISPUTE.

          4.7  CERTAIN  AMOUNTS.  Whenever pursuant to this Note the Borrower is
               ----------------
     required to pay an amount in excess of the outstanding principal amount (or
     the  portion  thereof  required  to  be paid at that time) plus accrued and
     unpaid  interest  plus  Default Interest on such interest, the Borrower and
     the  Holder agree that the actual damages to the Holder from the receipt of
     cash  payment  on this Note may be difficult to determine and the amount to
     be  so paid by the Borrower represents stipulated damages and not a penalty
     and  is  intended  to  compensate  the  Holder  in  part  for  loss  of the
     opportunity  to  convert  this  Note  and to earn a return from the sale of
     shares  of Common Stock acquired upon conversion of this Note at a price in
     excess  of  the  price  paid  for  such  shares  pursuant to this Note. The
     Borrower and the Holder hereby agree that such amount of stipulated damages
     is not plainly disproportionate to the possible loss to the Holder from the
     receipt of a cash payment without the opportunity to convert this Note into
     shares  of  Common  Stock.

          4.8 DAMAGES SHARES. The shares of Common Stock that may be issuable to
              --------------
     the  Holder  pursuant  to  Sections  1.3  and 1.4(g) hereof and pursuant to
     Section  2(c) of the Registration Rights Agreement ("DAMAGES SHARES") shall
     be  treated  as  Common Stock issuable upon conversion of this Note for all
     purposes hereof and shall be subject to all of the limitations and afforded
     all  of  the rights of the other shares of Common Stock issuable hereunder,
     including  without limitation, the right to be included in the Registration
     Statement filed pursuant to the Registration Rights Agreement. For purposes
     of calculating interest payable on the outstanding principal amount hereof,
     except  as  otherwise  provided  herein,  amounts  convertible into Damages
     Shares  ("DAMAGES  AMOUNTS")  shall not bear interest but must be converted
     prior  to  the conversion of any outstanding principal amount hereof, until
     the  outstanding  Damages  Amounts  is  zero.

<PAGE>

          4.9  DENOMINATIONS.  At  the  request of the Holder, upon surrender of
               -------------
     this  Note,  the  Borrower  shall promptly issue new Notes in the aggregate
     outstanding  principal  amount  hereof,  in  the  form  hereof,  in  such
     denominations  of  at  least  $50,000  as  the  Holder  shall  request.

          4.10  PURCHASE  AGREEMENT.  By its acceptance of this Note, the Holder
                -------------------
     agrees  to  be  bound  by  the  applicable terms of the Purchase Agreement.

          4.11  NOTICE  OF CORPORATE EVENTS. Except as otherwise provided below,
                ---------------------------
     the  Holder  of  this Note shall have no rights as a Holder of Common Stock
     unless and only to the extent that it converts this Note into Common Stock.
     The  Borrower  shall  provide  the  Holder  with  prior notification of any
     meeting  of  the Borrower's shareholders (and copies of proxy materials and
     other  information sent to shareholders). In the event of any taking by the
     Borrower  of  a  record  of its shareholders for the purpose of determining
     shareholders  who  are entitled to receive payment of any dividend or other
     distribution,  any  right  to  subscribe for, purchase or otherwise acquire
     (including  by  way  of  merger,  consolidation,  reclassification  or
     recapitalization)  any  share  of  any  class  or  any  other securities or
     property,  or to receive any other right, or for the purpose of determining
     shareholders who are entitled to vote in connection with any proposed sale,
     lease  or  conveyance  of  all  or  substantially  all of the assets of the
     Borrower  or  any  proposed  liquidation,  dissolution or winding up of the
     Borrower,  the  Borrower shall mail a notice to the Holder, at least twenty
     (20)  days  prior to the record date specified therein (or thirty (30) days
     prior  to  the  consummation  of  the  transaction  or  event, whichever is
     earlier),  of  the  date  on  which  any such record is to be taken for the
     purpose  of  such dividend, distribution, right or other event, and a brief
     statement  regarding  the  amount  and  character  of  such  dividend,
     distribution,  right  or  other event to the extent known at such time. The
     Borrower  shall  make  a  public  announcement  of  any  event  requiring
     notification  to the Holder hereunder substantially simultaneously with the
     notification  to  the  Holder  in accordance with the terms of this Section
     4.12.

          4.12  REMEDIES.  The  Borrower acknowledges that a breach by it of its
                --------
     obligations  hereunder  will  cause  irreparable  harm  to  the  Holder, by
     vitiating  the  intent  and purpose of the transaction contemplated hereby.
     Accordingly,  the Borrower acknowledges that the remedy at law for a breach
     of  its  obligations  under this Note will be inadequate and agrees, in the
     event of a breach or threatened breach by the Borrower of the provisions of
     this  Note,  that  the  Holder  shall be entitled, in addition to all other
     available  remedies  at  law or in equity, and in addition to the penalties
     assessable  herein, to an injunction or injunctions restraining, preventing
     or curing any breach of this Note and to enforce specifically the terms and
     provisions  thereof,  without  the  necessity  of showing economic loss and
     without  any  bond  or  other  security  being  required.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

IN  WITNESS  WHEREOF,  Borrower has caused this Note to be signed in its name by
its  duly  authorized  officer  this  18th  day  of  May,  2006.

                              THE  WORLD  GOLF  LEAGUE,  INC.

                              By: /s/ Michael S. Pagnano
                                 ----------------------------
                                   Michael  S.  Pagnano
                                   Chief  Executive  Officer

<PAGE>
                                    EXHIBIT A

                              NOTICE OF CONVERSION
                    (To be Executed by the Registered Holder
                         in order to Convert the Notes)

The  undersigned  owner  of  this  Convertible  Debenture  due May 18, 2009 (the
"Debenture")  issued  by  World  Golf  League,  Inc.  (the  "Company")  hereby
irrevocably  exercises its option to convert $__________ Principal Amount of the
Debenture  into  shares  of  Common  Stock  in  accordance with the terms of the
Debenture.  The  undersigned hereby instructs the Company to convert the portion
of  the  Debenture  specified  below  into  shares  of  Common  Stock  issued at
Conversion  in accordance with the provisions of Article I of the Debenture. The
undersigned  directs that the Common Stock and certificates therefor deliverable
upon  conversion,  the  Debenture  reissued  in  the  Principal Amount not being
surrendered  for  conversion  hereby,  [the  check  or shares of Common Stock in
payment  of the accrued and unpaid interest thereon to the date of this Notice,]
together with any check in payment for fractional Common Stock, be registered in
the name of and/or delivered to the undersigned unless a different name has been
indicated  below.  All  capitalized  terms  used and not defined herein have the
respective  meanings  assigned to them in the Debenture. The conversion pursuant
hereto  shall  be  deemed  to  have been effected at the date and time specified
below,  and  at  such  time  the  rights  of  the undersigned as a Holder of the
Principal  Amount of the Debenture set forth above shall cease and the Person or
Persons  in  whose  name or names the Common Stock Issued at Conversion shall be
registered shall be deemed to have become the holder or holders of record of the
Common  Shares  represented  thereby  and all voting and other rights associated
with the beneficial ownership of such Common Shares shall at such time vest with
such  Person  or  Persons.

Date  of  Conversion                                  :
Original  Debenture  Amount                           :
Applicable  Conversion  Price                         :
Dollar  Amount  Converted                             :
Shares  to  be  Converted                             :
Name  of  Investor                                    :
Amount  Outstanding  after  this  Conversion          :
Date  and  time                                       :

Signature

-------------------------------------------------------
Name   Title

     Please  DWAC  Shares  to:
          Clearing  Agent        :
          DTC  Number            :
          Account  Name          :
          Account  Number        :

<PAGE>

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