Document:

Exhbiit 4.4 

WARRANT AGREEMENT 

This Warrant Agreement (the
“Agreement”), made and entered into as of September 29, 2006, by and between A4S
SECURITY, INC., a Colorado corporation (the “Company”), and CORPORATE STOCK
TRANSFER, INC., a Colorado corporation, as Warrant Agent (the “Warrant Agent”). 

WITNESSETH THAT: 

WHEREAS, pursuant to a private
placement of its securities, the Company will offer up to $5.04 million in securities
consisting of (i) 792,000 Units (“Units”) at $3.50 per Unit with each
Unit consisting of one share of the Corporation’s common stock, no par value
(“Common Stock”), and three warrants to purchase shares of Common Stock
and (ii) up to $2.5 million of Convertible Promissory Notes (“Notes”)
with three warrants to purchase shares of Common Stock. Included in the three warrants
being issued is one warrant to purchase one share of Common Stock at $9.00 per share
(referred to herein as the “Warrant”). 

WHEREAS, the Company desires the
Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act,
in connection with the issuance, registration, transfer, exchange and redemption of the
Warrants, the issuance of Warrant Certificates, the exercise of the Warrants, and the
rights of the holders thereof. 

NOW THEREFORE, in consideration of
the premises and the mutual agreements hereinafter set forth and for the purposes of
defining the terms and provisions of the Warrants and the certificates representing the
Warrants (the “Warrant Certificates”) and the respective rights and obligations
thereunder of the Company, the Registered Holders and the Warrant Agent, the parties
hereto agree as follows: 

SECTION 1. DEFINITIONS. 

As used herein, the following terms
shall have the following meanings, unless the context shall otherwise require: 

     1.1.    
          “Corporate Office” shall mean the office of the Warrant Agent (or its
          successor) at which at any particular time its principal business shall be
          administered, which office is located at the date hereof at 3200 Cherry Creek
          Drive, Suite 430, Denver, Colorado 80209. 

     1.2.    
          “Exercise Date” shall mean the date on which the Warrant Agent shall
          have received both (a) the Warrant Certificate representing a Warrant, with the
          exercise form thereon duly executed by the Registered Holder thereof or his
          attorney duly authorized in writing, and (b) payment in case, or by official
          bank or certified check made payable to the Company, of an amount in lawful
          money of the United States of America equal to the applicable Purchase Price. 

     1.3.    
          “Initial Warrant Exercise Date” shall mean the date of issuance. 

     1.4.    
          “Purchase Price” shall mean the purchase price to be paid upon
          exercise of each Warrant in accordance with the terms hereof, which price shall
          be equal to $9.00 per common share subject to adjustment from time to time
          pursuant to the provisions of Section 8 hereof. 

     1.5.    
          “Registered Holder” shall mean the person in whose name any
          certificate representing Warrants shall be registered on the books maintained by
          the Warrant Agent pursuant to Section 6. 

     1.6.    
          “Transfer Agent” shall mean Corporate Stock Transfer, Inc., as the
          Company’s transfer agent, or its authorized successor, as such. 

     1.7.    
          “Warrant Expiration Date” shall mean 5:00 p.m., Denver, Colorado time,
          on July 18, 2010; provided that if such date shall in the State of Colorado be a
          holiday or a day on which banks are authorized to close, then 5:00 p.m., Denver,
          Colorado time, on the next following day which in the State of Colorado is not a
          holiday or a day on which banks are authorized to close. Upon notice to the
          Registered Holders, the Company shall have the right to extend the warrant
          expiration date of the Warrants. 

SECTION 2. WARRANTS AND ISSUANCE OF
WARRANT CERTIFICATES. 

     2.1.    
          A Warrant shall initially entitle the Registered Holder of the Warrant
          Certificate representing such Warrant to purchase one share of Common Stock upon
          the exercise thereof, in accordance with the terms hereof; subject to
          modification and adjustment as provided in Section 8. 

     2.2.    
          Upon execution of this Agreement, the Company shall furnish the Warrant Agent
          with a sufficient quantity of blank Warrant Certificates and from time to time
          will renew such supply upon the reasonable request of the Warrant Agent. Such
          blank Warrant Certificates shall be properly signed by the Company authorized by
          law and in accordance with the Company’s by-laws to sign such Warrant
          Certificates. Upon written order of the Company signed by its President and by
          another duly authorized officer, the Warrant Certificates shall be manually
          countersigned by the Warrant Agent and shall not be valid for any purpose unless
          so countersigned, issued and delivered by the Warrant Agent pursuant to this
          Agreement. 

     2.3.    
          From time to time, up to the Warrant Expiration Date, the Transfer Agent shall
          countersign and deliver stock certificates in required whole number
          denominations representing an aggregate of 1,533,333 shares of Common Stock,
          subject to adjustment as described herein, upon the exercise of the Warrants in
          accordance with this Agreement. 

     2.4.    
          From time to time, up to the applicable Warrant Expiration Date, the Warrant
          Agent shall countersign and deliver Warrant Certificates in required whole
          number denominations to the persons entitled thereto in connection with any
          transfer or exchange permitted under this Agreement; provided that no Warrant
          Certificates shall be issued except 

     (a)    
          those initially issued hereunder; 

     (b)    
          those issued on or after the Initial Warrant Exercise Date, upon the exercise of
          fewer than all Warrants represented by the respective Warrant Certificate, to
          evidence any unexercised Warrants held by the exercising Registered Holder; 

     (c)    
          those issued upon any transfer or exchange pursuant to Section 6; 

     (d)    
          those issued in replacement of lost, stolen, destroyed or mutilated Warrant
          Certificates pursuant to Section 7; and 

     (e)    
          at the option of the Company, in such form as may be approved by its Board of
          Directors, to reflect any adjustment or change in the Purchase Price, or the
          number of shares of Common Stock purchasable upon exercise of the Warrants. 

SECTION 3. FORM AND EXECUTION OF
WARRANT CERTIFICATES. 

     3.1.    
          The Warrant Certificates shall be substantially in the form annexed hereto as
          Exhibit A (the provisions of which are hereby incorporated herein) and may have
          such letters, numbers or other marks of identification or designation and such
          legends, summaries or endorsements printed, lithographed or engraved thereon as
          the Company may deem appropriate and as are not inconsistent with the provisions
          of this Agreement, or as may be required to comply with any law or with any rule
          or regulation made pursuant thereto or with any rule or regulation of any stock
          exchange on which the Warrants may be listed, or to conform to usage. The
          Warrant Certificates shall be dated the date of issuance thereof (whether upon
          initial issuance, transfer, exchange or in lieu of mutilated, lost, stolen or
          destroyed Warrant Certificates) and issued in registered form. Warrants shall be
          numbered serially with the letter W. 

     3.2.    
          Warrant Certificates shall be properly signed on behalf of the Company by
          officers of the Company authorized by law and in accordance with the
          Company’s by-laws to sign such Warrant Certificates. Warrant Certificates
          shall be manually countersigned by the Warrant Agent and shall not be valid for
          any purpose unless so countersigned. In case any officer of the Company who
          shall have signed any of the Warrant Certificates shall cease to be such officer
          of the Company before the date of issuance of the Warrant Certificates or before
          countersignature by the Warrant Agent, such Warrant Certificate may be issued
          and delivered with the same force and effect as though the person who signed
          such Warrant Certificates had not ceased to be such officer of the Company.
          After countersignature by the Warrant Agent, Warrant Certificates shall be
          delivered by the Warrant Agent to the Registered Holder without further action
          by the Company, except as otherwise provided by Section 4 hereof. 

SECTION 4. EXERCISE AND
REDEMPTION 

     4.1.    
          Each Warrant may be exercised by the Registered Holder thereof at any time on or
          after the Initial Exercise Date, but not after the Warrant Expiration Date, upon
          the terms and subject to the conditions set forth herein and in the Warrant
          Certificate. A Warrant shall be deemed to have been exercised immediately prior
          to the close of business on the Exercise Date and the person entitled to receive
          the Common Stock deliverable upon such exercise shall be treated for all
          purposes as the holder upon exercise thereof as of the close of business on the
          Exercise Date. As soon as practicable on or after the Exercise Date, the Warrant
          Agent shall deposit the proceeds received from the exercise of a Warrant and
          shall notify the Company in writing, by mail or by telecopy of the exercise of
          the Warrants. Promptly following, and in any event within three (3) days after
          the date of such notice from the Warrant Agent, the Warrant Agent, on behalf of
          the Company, shall cause to be issued and delivered by the Transfer Agent, to
          the person or persons entitled to receive the same, a certificate or
          certificates for the securities deliverable upon such exercise, (plus a Warrant
          Certificate for any remaining unexercised Warrants of the Registered Holder)
          unless within 24 hours of the receipt of the notice, the Company shall instruct
          the Warrant Agent by telecopy to refrain from causing such issuance of Warrant
          Certificates pending clearance of checks received in payment of the Purchase
          Price pursuant to such Warrants. Upon the exercise of any Warrant and clearance
          of the funds received, the Warrant Agent shall promptly remit the payment
          received for the Warrant to the Company or as the Company may direct in writing. 

     4.2.    
          The Company reserves the right to call the Warrants, at any time after July 18,
          2008 and prior to their exercise, with a notice of call in writing to the
          Registered Holders, giving 30 days’ notice of such call at any time after
          the Warrant becomes exercisable if the last sale price of the Common Stock has
          been at least $13.50 per share on each of 30 consecutive trading days prior to
          the date on which notice of such call is given. The call price of the Warrants
          is to be $.10 per Warrant. Any Warrant either not exercised, or tendered back to
          the Company by the end of the date specified in the notice of call, shall be
          canceled on the books of the Company and have no further value except for the
          $.10 call price. 

SECTION 5. RESERVATION OF SHARES;
LISTING; PAYMENT OF TAXES; ETC. 

     5.1.    
          The Company’s Articles of Incorporation authorize the issuance of
          25,000,000 shares of Common Stock. The Company covenants that it will at all
          times reserve and keep available out of its authorized Common Stock, solely for
          the purpose of issue upon exercise of Warrants, such number of shares of Common
          Stock as shall be issuable upon the exercise of all outstanding Warrants. The
          Company covenants that all shares of Common Stock which shall be issuable upon
          exercise of the Warrants shall, at the time of delivery, be duly and validly
          issued, fully paid, nonassessable and free from all taxes, liens and charges
          with respect to the issue thereof (other than those which the Company shall
          promptly pay or discharge). 

     5.2.    
          Warrants may not be exercised by, or shares of Common Stock issued to, any
          Registered Holder in any state in which such exercise would be unlawful. The
          Warrant Agent will not have any duty or responsibility for determining if the
          registration would be unlawful. 

     5.3.    
          The Company shall pay all documentary, stamp or similar taxes and other
          governmental charges that may be imposed with respect to the issuance of
          Warrants, or the issuance, or delivery of any shares upon exercise of the
          Warrants; provided, however, that if the shares of Common Stock are to be
          delivered in a name other than the name of the Registered Holder of the Warrant
          Certificate representing any Warrant being exercised, then no such delivery
          shall be made unless the person requesting the same has paid to the Warrant
          Agent the amount of transfer taxes or charges incident thereto, if any. 

     5.4.    
          The Warrant Agent is hereby irrevocably authorized to requisition the
          Company’s Transfer Agent from time to time for certificates representing
          shares of Common Stock required upon exercise of the Warrants, and the Company
          will authorize the Transfer Agent to comply with all such proper requisitions.
          The Company will file with the Warrant Agent a statement setting forth the name
          and address of the Transfer Agent of the Company for shares of Common Stock
          issuable upon exercise of the Warrants. 

SECTION 6. EXCHANGE AND REGISTRATION
OF TRANSFER. 

     6.1.    
          Warrant Certificates may be exchanged for other Warrant Certificates
          representing an equal aggregate number of Warrants of the same class or may be
          transferred in whole or in part. Warrant Certificates to be exchanged shall be
          surrendered to the Warrant Agent at the Corporate Office, and upon satisfaction
          of the terms and provisions hereof, the Company shall execute and the Warrant
          Agent shall countersign, issue and deliver in exchange therefore the Warrant
          Certificate or Certificates which the Registered Holder making the exchange
          shall be entitled to receive. 

     6.2.    
          The Warrant Agent shall keep at the Corporate Office books in which, subject to
          such reasonable regulations as it may prescribe, it shall register Warrant
          Certificates and the transfer thereof in accordance with its regular practice.
          Upon due presentment for registration or transfer of any Warrant Certificate at
          such office, the Company shall execute and the Warrant Agent shall issue and
          deliver to the transferee or transferees a new Warrant Certificate or
          Certificates representing an equal aggregate number of Warrants of the same
          class. 

     6.3.    
          With respect to all Warrant Certificates presented for registration or transfer,
          or for exchange or exercise, the Warrant Agent shall from time to time register
          the transfer, exchange or exercise of any outstanding Warrant Certificate upon
          records maintained by the Warrant Agent for such purpose upon surrender of such
          Warrant Certificate to the Warrant Agent, accompanied by appropriate instruments
          of transfer in form satisfactory to the Company and the Warrant Agent and duly
          executed by the Registered Holder or a duly authorized attorney. 

     6.4.    
          A service charge may be imposed by the Warrant Agent for registration or
          transfer or for exchange of Warrant Certificates. In addition, the Company may
          require payment by such holder of a sum sufficient to cover any tax or other
          governmental charge that may be imposed in connection therewith. 

     6.5.    
          All Warrant Certificates surrendered for exercise or for exchange in case of
          mutilated Warrant Certificates shall be promptly canceled by the Warrant Agent
          and thereafter retained by the Warrant Agent until termination of this Agreement
          or resignation as Warrant Agent, or, disposed of or destroyed, at the direction
          of the Company, within the retention guidelines prescribed by any Federal, State
          or banking regulatory authority. 

     6.6.    
          Prior to due presentment for registration or transfer thereof, the Company and
          the Warrant Agent may deem and treat the Registered Holder of any Warrant
          Certificate as the absolute owner thereof and of each Warrant represented
          thereby (notwithstanding any notations of ownership or writing thereon made by
          anyone other than a duly authorized officer of the Company or the Warrant Agent)
          for all purposes and shall not be affected by any notice to the contrary. 

SECTION 7. LOSS OR MUTILATION. 

     7.1.    
          Upon receipt by the Company and the Warrant Agent of evidence satisfactory to
          them of the ownership of and loss, theft, destruction or mutilation of any
          Warrant Certificate and (in case of loss, theft or destruction) of indemnity
          satisfactory to them, and (in the case of mutilation) upon surrender and
          cancellation thereof the Company shall execute and the Warrant Agent shall (in
          the absence of notice to the Company and/or Warrant Agent that the Warrant
          Certificate has been acquired by a bona fide purchaser) countersign and deliver
          to the Registered Holder in lieu thereof a new Warrant Certificate of like tenor
          representing an equal aggregate number of Warrants of that same class.
          Applicants for a substitute Warrant Certificate shall comply with such other
          reasonable regulations and pay such other reasonable charges as the Warrant
          Agent may prescribe. 

SECTION 8. ADJUSTMENT OF EXERCISE
PRICE AND NUMBER OF SHARES OF COMMON STOCK OR WARRANTS. 

     8.1.    
          The Company may elect, upon any adjustment of the Purchase Price hereunder, to
          adjust the number of Warrants of each or any class outstanding, in lieu of the
          adjustment in the number of shares of Common Stock purchasable upon the exercise
          of each Warrant as hereinabove provided, so that each Warrant outstanding after
          such adjustment shall represent the right to purchase one share of Common Stock.
          Each Warrant held of record prior to such adjustment of the number of Warrants
          of each or any class shall become that number of Warrants (calculated to the
          nearest tenth) determined by multiplying the number one by a fraction, the
          numerator of which shall be the Purchase Price in effect immediately prior to
          stock adjustment and the denominator of which shall be the Purchase Price in
          effect immediately after such adjustment. Upon each adjustment of the number of
          Warrants pursuant to this Section 8.1, the Company shall, as promptly as
          practicable, cause to be distributed to each Registered Holder of Warrant
          Certificates on the date of such adjustment Warrant Certificates evidencing,
          subject to Section 9 hereof, the number of additional Warrants of each class to
          which such Registered Holder shall be entitled as a result of such adjustment
          or, at the option of the Company, cause to be distributed to such Registered
          Holder in substitution and replacement for the Warrant Certificates held by him
          prior to the date of adjustment (and upon surrender thereof, if required by the
          Company) new Warrant Certificates evidencing the number of Warrants of each
          class to which such Registered Holder shall be entitled after such adjustment. 

     8.2.    
          In case of any reclassification, capital reorganization or other change of
          outstanding shares of Common Stock, or in case of any consolidation or merger of
          the Company with or into another corporation (other than a consolidation or
          merger in which the Company is the continuing corporation and which does not
          result in any reclassification, capital reorganization or other change of
          outstanding shares of Common Stock), or in case of any sale or conveyance to
          another corporation of the property of the Company as, or substantially as, an
          entirety (other than a sale/leaseback, mortgage or other financing transaction),
          the Company shall cause effective provision to be made so that each holder of a
          Warrant then outstanding shall have the right thereafter, by exercising such
          Warrant, to purchase the kind and number of shares of stock or other securities
          or property (including cash) receivable upon such reclassification, capital
          reorganization or other change, consolidation, merger, sale or conveyance by a
          holder of the number of shares of Common Stock that might have been purchased
          upon exercise of such Warrant immediately prior to such reclassification,
          capital reorganization or other change, consolidation, merger, sale or
          conveyance. Any such provision shall include provision for adjustments that
          shall be as nearly equivalent as may be practicable to the adjustments provided
          for in this Section 8.2. The foregoing provisions shall similarly apply to
          successive reclassifications, capital reorganizations and other changes of
          outstanding shares of Common Stock and to successive consolidations, mergers,
          sales or conveyances. 

     8.3.    
          After each adjustment of the Purchase Price pursuant to this Section 8, the
          Company will promptly prepare a certificate signed by the President and by the
          Secretary or an Assistant Secretary, of the Company setting forth: 

     (a)    
          the Purchase price as so adjusted, 

     (b)    
          the number of shares of Common Stock purchasable upon exercise of each Warrant
          after such adjustment, and, if the Company shall have elected to adjust the
          number of Warrants, the number of Warrants to which the Registered Holder of
          each Warrant shall then be entitled, and 

     (c)    
          a brief statement of facts accounting for such adjustment. The Company will
          promptly file such certificate with the Warrant Agent and cause a brief summary
          thereof to be sent by ordinary first class mail to each registered holder of
          Warrants at his last address as it shall appear on the registry books of the
          Warrant Agent. No failure to mail such notice nor any defect therein or in the
          mailing thereof shall affect the validity thereof except as to the Registered
          Holder to whom the Company failed to mail such notice, or except as to the
          Registered Holder whose notice was defective. The affidavit of an officer of the
          Warrant Agent or the Secretary or an Assistant Secretary of the Company that
          such notice has been mailed shall, in the absence of fraud, be prima facie
          evidence of the facts stated therein. 

     8.4.    
          As used in this Section 8, the term “Common Stock” shall mean and
          include the Company’s Common Stock authorized on the date of the original
          issue of the Warrants and shall also include any capital stock of any class of
          the Company thereafter authorized which shall not be limited to a fixed sum or
          percentage in respect of the rights of the holders thereof to participate in
          dividends and in the distribution of assets upon the voluntary liquidation,
          dissolution or winding up of the Company; provided, however, that the shares
          issuable upon exercise of the Warrants shall include only shares of such class
          designated in the Company’s Articles of Incorporation as Common Stock on
          the date of the original issue of the Warrants or (i), in the case of any
          reclassification, change, consolidation, merger, sale or conveyance of the
          character referred to in Section 8.2, hereof, the stock, securities or property
          provided for in such section or (ii), in the case of any reclassification or
          change in the outstanding shares of Common Stock issuable upon exercise of the
          Warrants as a result of a subdivision or combination or consisting of a change
          in par value, or from par value to no par value, or from no par value to par
          value, such shares of Common Stock as so reclassified or changed. 

     8.5.    
          Any determination as to whether an adjustment in the Purchase Price in effect
          hereunder is required pursuant to Section 8, or as to the amount of any such
          adjustment, if required, shall be binding upon the holders of the Warrants and
          the Company if made in good faith by the Board of Directors of the Company. 

     8.6.    
          The Warrant Agent assumes no responsibility for any determination under this
          Section and will act only in accordance with the written directions of the
          Company and its counsel. 

SECTION 9. FRACTIONAL WARRANTS AND
FRACTIONAL SHARES. 

     9.1.    
          If the number of shares of Common Stock purchasable upon the exercise of each
          Warrant is adjusted pursuant to Section 8 hereof, the Company shall nevertheless
          not be required to issue fractions of shares, upon exercise of the Warrants or
          otherwise, or to distribute certificates that evidence fractional shares. With
          respect to any fraction of a share called for upon any exercise hereof, the
          Company shall pay to the Holder an amount in cash equal to such fraction
          multiplied by the current market value of such fractional shares, determined as
          follows: 

     (a)    
          If the Common Stock is listed on a national securities exchange or admitted to
          unlisted trading privileges on such exchange or listed for trading on the Nasdaq
          Stock Market, the current value shall be the last reported sale price of the
          Common Stock on such exchange on the last business day prior to the date of
          exercise of this Warrant or if no such sale is made on such day, the average
          closing bid and asked prices for such day on such exchange; or 

     (b)    
          If the Common Stock is not listed or admitted to unlisted trading privileges,
          the current value shall be the mean of the last reported bid and asked prices
          reported by the National Quotation Bureau, Inc. on the last business day prior
          to the date of the exercise of this Warrant; or 

     (c)    
          If the Common Stock is not so listed or admitted to unlisted trading privileges
          and bid and asked prices are not so reported, the current value shall be an
          amount determined in such reasonable manner as may be prescribed by the Board of
          Directors of the Company. 

SECTION 10. WARRANT HOLDERS NOT
DEEMED STOCKHOLDERS. 

     10.1.    
          No Registered Holder shall, as such, be entitled to vote or to receive dividends
          or be deemed the holder of Common Stock that may at any time be issuable upon
          exercise of such Warrants for any purpose whatsoever, nor shall anything
          contained herein be construed to confer upon the Registered Holder, as such, any
          of the rights of a stockholder of the Company or any right to vote for the
          election of directors or upon any matter submitted to stockholders at any
          meeting thereof or to give or withhold consent to any corporate action (whether
          upon any recapitalization, issue or reclassification of stock, change of par
          value or change of stock to no par value, consolidation, merger or conveyance or
          otherwise), or to receive notice of meetings, or to receive dividends or
          subscription rights, until such Registered Holder shall have exercised such
          Warrants and been issued shares of Common Stock in accordance with the
          provisions hereof. 

SECTION 11. RIGHTS OF ACTION. 

     11.1.    
          All rights of action with respect to this Agreement are vested in the respective
          Registered Holders, and any Registered Holder, without consent of the Warrant
          Agent or of the holder of any other Warrant, may, in his own behalf and for his
          own benefit, enforce against the Company his right to exercise his Warrants for
          the purchase of shares of Common Stock in the manner provided in the Warrant
          Certificate and this Agreement. 

SECTION 12. AGREEMENT OF WARRANT
HOLDERS. 

     12.1.    
          Every Registered Holder, by his acceptance thereof, consents and agrees with the
          Company, the Warrant Agent and every other holder of a Warrant that: 

     (a)    
          The Warrants are transferable only on the registry books of the Warrant Agent by
          the Registered Holder thereof in person or by his attorney duly authorized in
          writing and only if the Warrant Certificates representing such Warrants are
          surrendered at the office of the Warrant Agent, duly endorsed or accompanied by
          a proper instrument of transfer satisfactory to the Warrant Agent and the
          Company in their sole discretion, together with payment of any applicable
          transfer taxes; and 

     (b)    
          The Company and the Warrant Agent may deem and treat the person in whose name
          the Warrant Certificate is registered as the holder and as the absolute, true
          and lawful owner of the Warrants represented thereby for all purposes, and
          neither the Company nor the Warrant Agent shall be affected by an notice of
          knowledge to the contrary, except as otherwise expressly provided in Section 6
          hereof. 

SECTION 13. CANCELLATION OF WARRANT
CERTIFICATES. 

     13.1.    
          If the Company shall purchase or acquire any Warrant or Warrants, the Warrant
          Certificate or Warrant Certificates evidencing the same shall thereupon be
          delivered to the Warrant Agent and canceled by it and retired. 

SECTION 14. CONCERNING THE WARRANT
AGENT. 

     14.1.    
          The Warrant Agent shall act hereunder as agent and in a ministerial capacity for
          the Company, and its duties shall be determined solely by the provisions hereof.
          The Warrant Agent shall not, by issuing and delivering Warrant Certificates or
          by any other act hereunder be deemed to make any representations as to the
          validity, value or authorization of the Warrant Certificates or the Warrants
          represented thereby or of any securities or other property delivered upon
          exercise of any Warrant or whether any stock issued upon exercise of any Warrant
          is fully paid and nonassessable. 

     14.2.    
          The Warrant Agent shall not at any time be under any duty or responsibility to
          any holder of Warrant Certificates to make or cause to be made any adjustment of
          the Purchase Price provided in this Agreement, or to determine whether any fact
          exists which may require any such adjustments, or with respect to the nature or
          extent of any such adjustment, when made, or with respect to the method employed
          in making the same. It shall not (i) be liable for any recital or statement of
          facts contained herein or for any action taken, suffered or omitted by it in
          reliance on any Warrant Certificate or other document or instrument believed by
          it in good faith to be genuine and to have been signed or presented by the
          proper party or parties, (ii) be responsible for any failure on the part of the
          Company to comply with any of its covenants and obligations contained in this
          Agreement or in any Warrant Certificate, or (iii) be liable for any act or
          omission in connection with this Agreement except for its own negligence or
          willful misconduct. 

     14.3.    
          The Warrant Agent may at any time consult with counsel satisfactory to it (who
          may be counsel for the Company) and shall incur no liability or responsibility
          for any action taken, suffered or omitted by it in good faith in accordance with
          the opinion or advice of such counsel. Any notice, statement, instruction,
          request, direction, order or demand of the Company shall be sufficiently
          evidenced by an instrument signed by the President, its Secretary, or Assistant
          Secretary (unless other evidence in respect thereof is herein specifically
          prescribed). The Warrant Agent shall not be liable for any action taken,
          suffered or omitted by it in accordance with such notice, statement,
          instruction, request, direction, order or demand believed by it to be genuine. 

     14.4.    
          The Company agrees to pay the Warrant Agent compensation for its services
          hereunder and to reimburse it for its expenses hereunder in accordance with the
          fees listed on Schedule I attached hereto; it further agrees to indemnify the
          Warrant Agent and save it harmless against any and all losses, expenses and
          liabilities, including judgments, costs and counsel fees, for anything done or
          omitted by the Warrant Agent in the execution of its duties and powers hereunder
          except losses, expenses and liabilities arising as a result of the Warrant
          Agent’s negligence or willful misconduct. 

     14.5.    
          The Warrant Agent may resign its duties and be discharged from all further
          duties and liabilities hereunder (except liabilities arising as a result of the
          Warrant Agent’s own negligence or willful misconduct), after giving 60
          days’ prior written notice to the Company. At least 30 days prior to the
          date such resignation is to become effective, the Warrant Agent shall cause a
          copy of such notice of resignation to be mailed to the Registered Holder of each
          Warrant Certificate at the Company’s expense. Upon such resignation, or any
          inability of the Warrant Agent to act as such hereunder, the Company shall
          appoint a new warrant agent in writing. If the Company shall fail to make such
          appointment within a period of 30 days after it has been notified in writing of
          such resignation by the resigning Warrant Agent, then the Registered Holder of
          any Warrant Certificate may apply to any court of competent jurisdiction for the
          appointment of a new warrant agent. Any new Warrant Agent, whether appointed by
          the Company or by such a court, shall be a bank or trust company having a
          capital and surplus, as shown by its last published report to its stockholders,
          of not less than $10,000,000 or a stock transfer company. After acceptance in
          writing of such appointment by the new warrant agent is received by the Company,
          such new warrant agent shall be vested with the same powers, rights, duties and
          responsibilities as if it had been originally named herein as the Warrant Agent,
          without any further assurance, conveyance, act or deed; but, if for any reason
          it shall be necessary or expedient to execute and deliver any further assurance,
          conveyance, act or deed, the same shall be done at the expense of the Company
          and shall be legally and validly executed and delivered by the resigning Warrant
          Agent. Not later than the effective date of any such appointment, the Company
          shall file notice thereof with the resigning Warrant Agent and shall forthwith
          cause a copy of such notice to be mailed to the Registered Holder of each
          Warrant Certificate. 

     14.6.    
          Any corporation into which the Warrant Agent or any new warrant agent may be
          converted or merged or any corporation resulting from any consolidation to which
          the Warrant Agent or any new warrant agent shall be a party or any corporation
          succeeding to the trust business of the Warrant Agent shall be a successor
          warrant agent under this Agreement without any further act, provided that such
          corporation is eligible for appointment as successor to the Warrant Agent under
          the provisions of the preceding paragraph. Any such successor warrant agent
          shall promptly cause notice of its succession as warrant agent to be mailed to
          the Company and to the Registered Holder of each Warrant Certificate. 

     14.7.    
          The Warrant Agent, its subsidiaries and affiliates, and any of its or their
          officers or directors, may buy and hold or sell Warrants or other securities of
          the Company and otherwise deal with the Company in the same manner and to the
          same extent and with like effects as though it were not Warrant Agent. Nothing
          herein shall preclude the Warrant Agent from acting in any other capacity for
          the Company or for any other legal entity. 

SECTION 15. MODIFICATION OF
AGREEMENT. 

     15.1.    
          The Warrant Agent and the Company may by supplemental agreement make any changes
          or corrections in this Agreement (i) that they shall deem it appropriate to cure
          any ambiguity or to correct any defective or inconsistent provision or manifest
          mistake or error herein contained; or (ii) that they may deem necessary or
          desirable and which shall not adversely affect the interests of the Registered
          Holders; provided, however, that this Agreement shall not otherwise be modified,
          supplemented or altered in any respect except with the consent in writing of the
          Registered Holders representing not less than two-thirds of the Warrants, other
          than such changes as are specifically prescribed by this Agreement as originally
          executed. 

SECTION 16. NOTICES. 

     16.1.    
          All notices, requests, consents and other communications hereunder shall be in
          writing and shall be deemed to have been made when delivered or mailed first
          class registered or certified mail, postage prepaid as follows: if to the
          Registered Holder of a Warrant Certificate, at the address of such holder as
          shown on the registry books maintained by the Warrant Agent; if to the Company,
          at 489 N. Denver Avenue, Loveland, Colorado 80537, Attention: President, or at
          such other address as may have been furnished to the Warrant Agent in writing by
          the Company; if to the Warrant Agent, at the Corporate Office. 

SECTION 17. GOVERNING LAW. 

     17.1.    
          This Agreement shall be governed by and construed in accordance with the laws of
          the State of Colorado, without reference to principles of conflicts of law. 

SECTION 18. BINDING EFFECT. 

     18.1.    
          This Agreement shall be binding upon and inure to the benefit of the Company
          and, the Warrant Agent and their respective successors and assigns, and the
          Registered Holders of the Warrant Certificates. Nothing in this Agreement is
          intended or shall he construed to confer upon any other person any right, remedy
          or claim, in equity or at law, or to impose upon any other person any duty,
          liability or obligation. 

SECTION 19. TERMINATION. 

     19.1.    
          This Agreement shall terminate at the close of business on the Warrant
          Expiration Date or such earlier date upon which all Warrants have been
          exercised, except that the obligation of the Warrant Agent to account to the
          Company for cash held by it and the provisions of Section 13 hereof shall
          survive such termination. 

SECTION 20. COUNTERPARTS. 

     20.1.    
          This Agreement may be executed in several counterparts, which taken together
          shall constitute a single document. 

        [Remainder
of page intentionally left blank.] 

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

		
	A4S SECURITY, INC.

By: _______________________________

         Gregory Pusey

         Chairman

CORPORATE STOCK TRANSFER, INC.

By: _______________________________

         Name:

         Title:

 

	

(SEE REVERSE LEGEND) 

(THIS WARRANT WILL BE
VOID IF NOT EXERCISED PRIOR                                                   TO 5:00
P.M. DENVER TIME, JULY 18, 2010) 

			
	Number 
	A4S SECURITY, INC. 
	Warrants ________ 

WARRANT 

CUSIP 001069111 

        THIS
CERTIFIES THAT, for value received, ______________________ is the registered holder of a
Warrant or Warrants expiring July 18, 2010 (the “Warrant”) to purchase one fully
paid and non-assessable share of Common Stock, no par value per share
(“Shares”), of A4S Security, Inc., a Colorado corporation (the
“Company”), for each one Warrant evidenced by this Warrant Certificate. The
Warrant entitles the holder thereof to purchase from the Company, commencing on the date
the Warrant is separated from the Unit of which it is a part, such number of Shares of the
Company at the price of $9.00 per share, upon surrender of this Warrant Certificate and
payment of the Warrant Price at the office or agency of the Warrant Agent, Corporate Stock
Transfer, Inc. (such payment to be made by check made payable to the Warrant Agent), but
only subject to the conditions set forth herein and in the Warrant Agreement between the
Company and Corporate Stock Transfer, Inc. The Warrant Agreement provides that upon the
occurrence of certain events the Warrant Price and the number of Warrant Shares
purchasable hereunder, set forth on the face hereof, may, subject to certain conditions,
be adjusted. The term Warrant Price as used in this Warrant Certificate refers to the
price per Share at which Shares may be purchased at the time the Warrant is exercised. 

        No
fraction of a Share will be issued upon any exercise of a Warrant. If the holder of a
Warrant would be entitled to receive a fraction of a Share upon any exercise of a Warrant,
the Company shall, upon such exercise, round up to the nearest whole number the number of
Shares to be issued to such holder. 

        Upon
any exercise of the Warrant for less than the total number of full Shares provided for
herein, there shall be issued to the registered holder hereof or his assignee a new
Warrant Certificate covering the number of Shares for which the Warrant has not been
exercised. 

        Warrant
Certificates, when surrendered at the office or agency of the Warrant Agent by the
registered holder hereof in person or by attorney duly authorized in writing, may be
exchanged in the manner and subject to the limitations provided in the Warrant Agreement,
but without payment of any service charge, for another Warrant Certificate or Warrant
Certificates of like tenor and evidencing in the aggregate a like number of Warrants. 

        Upon
due presentment for registration of transfer of the Warrant Certificate at the office or
agency of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like
tenor and evidencing in the aggregate a like number of Warrants shall be issued to the
transferee in exchange for this Warrant Certificate, subject to the limitations provided
in the Warrant Agreement, without charge except for any applicable tax or other
governmental charge. 

        The
Company and the Warrant Agent may deem and treat the registered holder as the absolute
owner of this Warrant Certificate (notwithstanding any notation of ownership or other
writing hereon made by anyone), for the purpose of any exercise hereof, of any
distribution to the registered holder, and for all other purposes, and neither the Company
nor the Warrant Agent shall be affected by any notice to the contrary. 

        This
Warrant does not entitle the registered holder to any of the rights of a Stockholder of
the Company until exercised. 

        The
Company reserves the right to call the Warrant, at any time after July 18, 2008 and prior
to its exercise, with a notice of call in writing to the Warrantholders of Record, giving
30 days’ notice of such call at any time after the Warrant becomes exercisable if the
last sale price of the Shares has been at least $13.50 per share on each of 30 consecutive
trading days prior to the date on which notice of such call is given. The call price of
the Warrants is to be $.10 per Warrant. Any Warrant either not exercised, or tendered back
to the Company by the end of the date specified in the notice of call, shall be canceled
on the books of the Company and have no further value except for the $.10 call price. 

Countersigned: 

Countersigned:

CORPORATE STOCK TRANSFER, INC.
 
       
   (Denver, Colorado) 

			
	   as Warrant Agent,  

                      

                      

                      

                      

                      

                      

                      

  Authorized Officer
	A4S SECURITY, INC. 

 CORPORATE SEAL

                 

   COLORADO

      X

                 

                   

                   
	 By:

 ___________                        _______________

   Secretary                                        President

SUBSCRIPTION FORM 

To Be Executed by the
Registered Holder in Order to Exercise Warrants  

The undersigned Registered Holder
irrevocably elects to exercise Warrants represented by this Warrant Certificate, and to
purchase the shares of Common Stock issuable upon the exercise of such Warrants, and
requests that Certificates for such shares shall be issued in the name of <PRE> 

(PLEASE TYPE OR PRINT
NAME AND ADDRESS) 

(SOCIAL SECURITY OR TAX
IDENTIFICATION NUMBER) 

and be delivered to 

(PLEASE PRINT OR TYPE
NAME AND ADDRESS) 

and, if such number of Warrants shall
not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant
Certificate for the balance of such Warrants be registered in the name of, and delivered
to, the Registered Holder at the address stated below: 

Dated:  ________________  

(SIGNATURE) 

(ADDRESS) 

(TAX IDENTIFICATION
NUMBER) 

ASSIGNMENT 

To Be Executed by the
Registered Holder in Order to Assign Warrants 

For Value Received, _____________________________________ hereby sell, assign, and transfer unto

 

(PLEASE TYPE OR PRINT
NAME AND ADDRESS) 

(SOCIAL SECURITY OR TAX
IDENTIFICATION NUMBER) 

and be delivered to 

(PLEASE PRINT OR TYPE
NAME AND ADDRESS) 

____________________________________of
the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute
and appoint __________________________________________________________ Attorney to
transfer this Warrant Certificate on the books of the Company, with full power of
substitution in the premises. 

Dated:  ________________  

(SIGNATURE) 

THE SIGNATURE TO THE ASSIGNMENT OF
THE SUBSCRIPTION FORM MUST CORRESPOND TO THE NAME WRITTEN UPON THE FACE OF THIS WARRANT
CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATSOEVER, AND MUST BE GUARANTEED BY A COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM
OF THE AMERICAN STOCK EXCHANGE, NEW YORK STOCK EXCHANGE, PACIFIC STOCK EXCHANGE/ARCAEX OR
CHICAGO STOCK EXCHANGE.Exhibit 10.1 

SECURITIES PURCHASE
AGREEMENT  

        THIS
SECURITIES PURCHASE AGREEMENT (this “Agreement”) is made and entered
into as of the 29th day of September, 2006 (the “Effective
Date”) by and between A4S Security, Inc. a Colorado corporation (the
“Company”), and the investors set forth on Schedule I attached
hereto (each, an “Investor” and collectively, the
“Investors”). 

RECITAL  

        WHEREAS,
the Company desires to sell to the Investors, and the Investors desire to purchase from
the Company, (i) an aggregate amount of ____________ of Convertible Promissory Notes (the
“Notes”) which are convertible into ____________ shares of the
Company’s Series A Preferred Stock, no par value per share (the “Preferred
Stock”), (ii) ____________ warrants to purchase shares of the Company’s
common stock, no par value per share (the “Common Stock”), exercisable at
$4.75 per share expiring four years from the Closing (as defined below), (iii)
____________ warrants to purchase shares of Common Stock exercisable at $4.75 per share
expiring 18 months from the Closing and (iv) ____________ warrants to purchase shares of
Common Stock exercisable at $9.00 per share whose terms will mirror exactly the
Company’s publicly traded warrants (symbol: “SWATW”), provided that the
“SWATW” warrants will not be exercisable for six months following the Closing
(collectively, the “Warrants” and together with the Notes, the
“Securities”). 

AGREEMENT  

        NOW,
THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows: 

    1.           AUTHORIZATION AND SALE
OF SECURITIES.  

    
          1.1        Purchase and Sale
of Securities. At the Closing, the Company shall sell to the Investors, and the
Investors shall purchase from the Company, the Securities, in the denominations set forth
on Schedule I for aggregate proceeds to the Company of $____________ (the “Purchase
Price”).  

    
          1.2        Closing.
The closing of the purchase and sale of the Securities (the “Closing”)
will take place at the offices of the Company on the Effective Date, or such other time
and location determined by the Company and the Investors (the “Closing Date”).
At the Closing: (i) the Company shall issue and deliver to the Investors duly executed
Notes in the denominations set forth on Schedule I and in the form attached hereto
as Exhibit A; (ii) the Company shall issue and deliver to the Investors duly
executed Warrants in the denominations set forth on Schedule I and in the forms
attached hereto as Exhibit B; and (iii) each Investor shall pay to the Company the
applicable Purchase Price for the Securities to be purchased by such Investor in the
amounts set forth on Schedule I by wire transfer of same day funds to the Company.  

    2.           REPRESENTATIONS AND WARRANTIES OF THE COMPANY.          The
Company hereby makes the following representations and warranties to the
          Investors as of the date hereof and as of the Closing Date:  

    
          2.1        Organization
and Qualification. The Company is an entity duly incorporated, validly existing and
in good standing under the laws of the State of Colorado, with the requisite corporate
power and authority to own and use its properties and assets and to carry on its business
as currently conducted. The Company is not in violation of any of the provisions of its
Articles of Incorporation or Bylaws. The Company is duly qualified to conduct business
and is in good standing as a foreign corporation in each jurisdiction in which the nature
of the business conducted or property owned by it makes such qualification necessary,
except where the failure to be so qualified or in good standing, as the case may be,
would not have or result in (i) a material adverse effect on the legality, validity or
enforceability of this Agreement, the Notes, the Warrants, the Registration Rights
Agreement (as defined below) or the Certificate of Designation (as defined below)
(collectively, the “Transaction Documents”), (ii) a material adverse
effect on the business or financial condition of the Company or (iii) a material adverse
effect on the Company’s ability to perform in any material respect on a timely basis
its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material
Adverse Effect”). The Company owns 100% of the outstanding capital stock of
Vizer Merger Sub, Inc., a Colorado corporation (the “Merger Sub”). The
Merger Sub has no assets. Except for the Merger Sub, the Company has no direct or
indirect subsidiaries.  

    
          2.2        Authorization;
Enforceability. The execution, delivery and performance by the Company of the
Transaction Documents, and the consummation of the transactions contemplated thereby
(including, but not limited to, the sale and delivery of the Notes and Warrants, and the
subsequent issuance of the Preferred Stock upon conversion of the Notes, the Common Stock
upon conversion of the Preferred Stock and the Common Stock upon exercise of the
Warrants) have been duly authorized, and no additional corporate or stockholder action is
required for the approval thereof (other than the approval of the Company’s
stockholders pursuant to The NASDAQ Stock Market Rule 4350(i) with respect to the
conversion of the Notes into Preferred Stock and the issuance of the Common Stock into
which the Preferred Stock is convertible). The Preferred Stock underlying the Notes, the
Common Stock underlying the Preferred Stock and the Common Stock underlying the Warrants
(collectively, the “Conversion Shares”) have been duly reserved for
issuance by the Company. This Agreement and the other Transaction Documents have been or,
to the extent contemplated hereby or by the Transaction Documents, will be duly executed
and delivered and constitute, or will constitute (as applicable), the legal, valid and
binding agreement of the Company, enforceable against the Company in accordance with
their terms, except as may be limited by bankruptcy, reorganization, insolvency,
moratorium and similar laws of general application relating to or affecting the
enforcement of rights of creditors, and except as enforceability of its obligations
hereunder are subject to general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). The Company has the
requisite corporate power and authority to enter into and to consummate the transactions
contemplated by each of the Transaction Documents and otherwise to carry out its
obligations thereunder.  

2 

    
          2.3        No
Conflicts. The execution, delivery and performance of the Transaction Documents by
the Company and the consummation by the Company of the transactions contemplated thereby
do not and will not (i) conflict with or violate any provision of the Company’s
Articles of Incorporation or Bylaws, or (ii) conflict with, or constitute a default (or
an event that with notice or lapse of time or both would become a default) under, or give
to others any rights of termination, amendment, acceleration or cancellation (with or
without notice, lapse of time or both) of, any agreement, credit facility, debt or other
instrument (evidencing a Company debt or otherwise) or other understanding to which the
Company is a party or by which any property or asset of the Company is bound or affected,
or (iii) subject to the Company’s obligation to obtain the approval of the Company’s
stockholders pursuant to The NASDAQ Stock Market Rule 4350(i), result in a violation of
any law, rule, regulation, order, judgment, injunction, decree or other restriction of
any court or governmental authority to which the Company is subject (including federal
and state securities laws and regulations), or by which any property or asset of the
Company is bound or affected, except, in the cases of clauses (ii) and (iii), where such
conflict, default or violation would not have or result in a Material Adverse Effect.  

    
          2.4        Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver,
authorization or order of, give any notice to, or make any filing or registration with,
any court or other federal, state, local or other governmental authority or other Person
in connection with the execution, delivery and performance by the Company of the
Transaction Documents, other than (a) Form D and applicable state “Blue Sky” filings,
(b) such as have already been obtained or such exemptive filings as are required to be
made under applicable securities laws and (c) filing of an additional listing application
with the Nasdaq Stock Market (which filing has been made prior to the Closing Date) and
the NYSE Arca Exchange, if necessary.  

    
          2.5        Issuance
of the Securities. The Securities and the Conversion Shares are duly authorized and,
when issued and paid for in accordance with the Transaction Documents, will be duly and
validly issued, fully paid and nonassessable, free and clear of all Liens, other than any
Liens created by or imposed on the holders thereof through no action of the Company. The
Company has reserved from its duly authorized capital stock the maximum number of shares
of Common Stock issuable pursuant to the Securities and the Conversion Shares.  

    
          2.6        Capitalization.  

    
          
          (a)                     The
authorized and outstanding capitalization of the Company is as described in           the
Company’s Form 10-QSB as filed with the SEC for the quarter ended June           30,
2006. The Company has not issued any capital stock since such filing. All
          shares of the Company’s issued and outstanding capital stock have been
duly           authorized, are validly issued and outstanding, and are fully paid and
          nonassessable. No securities issued by the Company from the date of its
          incorporation to the date hereof were issued in violation of any statutory or
          common law preemptive rights. There are no dividends which have accrued or been
          declared but are unpaid on the capital stock of the Company. All taxes required
          to be paid by the Company in connection with the issuance and any transfers of
          the Company’s capital stock have been paid. All securities of the Company
          have been issued in all material respects in accordance with the provisions of
          all applicable securities and other laws.  

3 

    
          (b)                     No
Person has any right of first refusal, preemptive right, right of
          participation, or any similar right to participate in the transactions
          contemplated by the Transaction Documents. Except as a result of the purchase
          and sale of the Securities and except for employee and director stock options
          under the Company’s equity compensation plans and outstanding warrants to
          purchase approximately 1,540,000 shares of Common Stock, there are no
          outstanding options, warrants, rights to subscribe to, calls or commitments of
          any character whatsoever relating to, or securities, rights or obligations
          convertible into or exchangeable for, or giving any Person any right to
          subscribe for or acquire, any shares of Common Stock, or contracts,
commitments,           understandings or arrangements by which the Company is or may
become bound to           issue additional shares of Common Stock, or securities or
rights convertible or           exchangeable into shares of Common Stock (“Common
Stock           Equivalents”). Other than the Common Stock Offering currently in
          process, the issue and sale of the Securities will not obligate the Company to
          issue shares of Common Stock or other securities to any Person (other than the
          Investors) and will not result in a right of any holder of Company securities
to           adjust the exercise, conversion, exchange or reset price under such
securities.  

    
          2.7        Litigation.
There is no action, suit, inquiry, notice of violation, proceeding or investigation
pending or, to the Knowledge of the Company, threatened against the Company or any of its
properties before or by any court, arbitrator, governmental or administrative agency or
regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any
of the Transaction Documents or the Securities or (ii) could, if there were an
unfavorable decision, have or result in a Material Adverse Effect. Neither the Company
nor to the Knowledge of the Company, any director or officer thereof, is or has been the
subject of any Action involving a claim of violation of or liability under federal or
state securities laws or a claim of breach of fiduciary duty. To the Knowledge of the
Company, there has not been and there is not pending or contemplated, any investigation
by the Securities and Exchange Commission involving the Company or any current or former
director or officer of the Company.  

    
          2.8        Labor
Relations. No material labor dispute exists or, to the Knowledge of the Company, is
imminent with respect to any of the employees of the Company which could have or result
in a Material Adverse Effect.  

    
          2.9        Compliance.
The Company (i) is not in default under or in violation of (and no event has occurred
that has not been waived that, with notice or lapse of time or both, would result in a
default by the Company), nor has the Company received notice of a claim that it is in
default under or that it is in violation of, any indenture, loan or credit agreement or
any other agreement or instrument to which it is a party or by which it or any of its
properties is bound (whether or not such default or violation has been waived), (ii) is
not in violation of any order of any court, arbitrator or governmental body, or (iii) is
not or has not been in violation of any statute, rule or regulation of any governmental
authority, including without limitation all foreign, federal, state and local laws
applicable to its business, except in the case of clauses (i) and (iii) as would not have
or reasonably be expected to result in a Material Adverse Effect.  

    
          2.10        Intellectual
Property.  

4 

    
          
          (a)                     The
Company has the right to use or is the sole and exclusive owner of all           right,
title and interest in and to all foreign and domestic patents, patent           rights,
trademarks, service marks, trade names, brands and copyrights (whether           or not
registered and, if applicable, including pending applications for           registration)
owned, used or controlled by the Company (collectively, the           “Rights”)
and in and to each material invention, software,           trade secret, technology,
product, composition, formula and method of process           used by the Company (the
Rights and such other items, the “Intellectual           Property”),
and, to the Company’s Knowledge, has the right to use           the same, free and
clear of any claim or conflict with the rights of others.  

    
          
          (b)                     No
royalties or fees (license or otherwise) are payable by the Company to any
          Person by reason of the ownership or use of any of the Intellectual Property.  

    
          
          (c)                     There
have been no claims made against the Company asserting the invalidity,           abuse,
misuse, or unenforceability of any of the Intellectual Property, and, to           the
best of the Company’s Knowledge, there are no reasonable grounds for           any
such claims.  

    
          
          (d)                     The
Company has made not any claim of any violation or infringement by others of
          its rights in the Intellectual Property, and to the best of the Company’s
          Knowledge, no reasonable grounds for such claims exist.  

    
          
          (e)                     The
Company has not received notice that it is in conflict with or infringing           upon
the asserted rights of others in connection with the Intellectual Property.  

    3.           REPRESENTATIONS
AND WARRANTIES OF THE INVESTORS. Each           Investor, severally and not
jointly, hereby represents and warrants to the           Company that:  

    
          3.1        Authorization.
The Investor is duly authorized to execute the Transaction Documents including this
Agreement and when executed and delivered by the Investor, the Transaction Documents will
constitute legal, valid, and binding obligations enforceable against the Investor in
accordance with its terms, except as may be limited by applicable bankruptcy, insolvency,
reorganization or others laws of general application relating to or affecting the
enforcement of creditors’ rights generally. The execution, delivery, and performance
of the Transaction Documents and the consummation of the transactions contemplated hereby
have been duly authorized by all requisite corporate or other necessary action on the
part of the Investor.  

    
          
          3.2        Investor
Suitability.  

    
          
          
          (a)                     The
Securities subscribed for hereby are being acquired by the Investor for his,
          her or its own account and for investment purposes only and not with a view to
          any resale or distribution thereof, in whole or in part, to others, and the
          Investor is not participating, directly or indirectly, in a distribution of
such           Securities and will not take, or cause to be taken, any action that would
cause           the Investor to be deemed an “underwriter” of such Securities
as           defined in Section 2(11) of the Securities Act of 1933, as amended (the
          “Act”).  

    
          
          
          (b)                     The
Investor acknowledges that he, she or it has had the opportunity to seek
          business, financial, and legal advice as the Investor deems necessary in order
          to evaluate the merits and risks of purchasing the Securities.  

5 

    
          
          
          (c)                     The
Investor has received and read a copy of the Confidential Private Placement
          Memorandum of the Company dated August 16, 2006, as amended.  

    
          
          
          (d)                     The
Investor has had an opportunity to ask questions of, and receive           satisfactory
answers from, representatives of the Company concerning the terms           and
conditions pursuant to which the offering of the Securities is being made           and
all material aspects of the Company and its proposed business, and any           request
for such information has been fully complied with to the extent the           Company
possesses such information or can acquire it without unreasonable effort           or
expense.  

    
          
          
          (e)                     The
Investor is an “accredited investor” within the meaning of Rule           501
of the Act.  

    
          
          
          (f)                     The
Investor is an investor who has such knowledge and experience in financial           and
business matters as to be capable of evaluating the merits and risks of an
          investment in the Company based upon (i) the information furnished to him, her
          or it by the Company; (ii) his, her or its personal knowledge of the business
          and affairs of the Company; (iii) such additional information as he, she or it
          may have requested and has received from the Company; and (iv) the independent
          inquiries and investigations undertaken by him, her or it.  

    
          
          
          (g)                     No
person has given any information or made any representation not contained in
          any disclosure documents referred to above or otherwise provided to the
Investor           in writing by a person employed or authorized in writing by the
Company. The           Investor understands and agrees that any information or
representation not           contained therein must not, and will not, be relied upon and
that nothing           contained therein should be construed as legal or tax advice to
the Investor.  

    
          
          
          (h)                     No
person has made any direct or indirect representation or warranty of any kind
          to the Investor with respect to the economic return which may accrue to the
          Investor. The Investor has consulted with his, her or its own advisors with
          respect to an investment in the Company.  

    
          
          
          (i)                     All
information, representations and warranties contained herein or otherwise           given
or made to the Company by the Investor in any other written statement or
          document delivered in connection with the transactions contemplated hereby are
          correct and complete as of the date of this Agreement and may be relied upon by
          the Company, and, if there should be any material change in such information
          prior to the Closing Date, the Investor will immediately furnish such revised
or           corrected information to the Company.  

    4.           CONDITIONS TO  CLOSING.  

    
          4.1        Payment of Purchase Price.
On the Closing Date, the Investors shall deliver to the Company the Purchase Price in
accordance with the provisions of Section 1 against delivery by the Company of the
Securities.  

    
          4.2        Issuance
and Delivery of the Notes and the Warrants. On the Closing Date, the Company shall
issue and deliver to the Investors duly executed Notes and Warrants in the denominations
set forth on Schedule I.  

6 

    
          4.3        Registration
Right Agreement. On the Closing Date, the Company and the Investors shall execute and
deliver the Registration Rights Agreement in the form attached hereto as Exhibit C(the
“Registration Rights Agreement”).  

    
          4.4        Certificate
of Designation. On or prior to the Closing Date, the Company shall have filed with
the Colorado Secretary of State the Certificate of Designation for the Preferred Stock in
the form attached hereto as Exhibit D (the “Certificate of Designation”).  

    
          4.5        Proceedings and Documents.
All actions and other proceedings in connection with the transactions contemplated at the
Closing and all documents and instruments incident thereto shall be reasonably
satisfactory in form and substance to the Company, the Investors and their respective
legal counsel, and the Company and the Investors shall have received all such counterpart
originals and certified or other copies of such documents as they may reasonably request.  

    
          4.6        Nasdaq
Additional Listing Application Approval. On or prior to the Closing Date, the Company
shall have provided to the Investors evidence of the filing by the Company with The
Nasdaq Stock Market of an Additional Listing Application with respect to the Conversion
Shares issuable upon exercise of the Warrants.  

    5.
       ADDITIONAL
AGREEMENTS OF THE PARTIES.  

    
          5.1               No
Material Non-Public Information. Neither the Company nor any other Person acting on
its behalf has provided the Investor or its agents or counsel with any information that
will constitute material non-public information following the public announcement of this
Closing and the related Common Stock and Warrant financing. The Company understands and
confirms that each Investor shall be relying on the foregoing representation in effecting
transactions in securities of the Company in accordance with applicable law following the
public announcement of this Closing and the related Common Stock and Warrant financing.  

    
          5.2        Indemnification.  

    
          
          (a)              Company
Indemnification. The Company agrees to indemnify and hold           harmless the
Investors, their affiliates, each of their officers, directors,           partners,
employees and agents and their respective successors and assigns, from           and
against any losses, damages, or expenses which are caused by or arise out of
          (i) any breach or default in the performance by the Company of any covenant or
          agreement made by the Company in this Agreement or in any of the Transaction
          Documents; (ii) any breach of warranty or representation made by the Company in
          this Agreement or in any of the Transaction Documents (iii) any and all third
          party actions, suits, proceedings, claims, demands, judgments, costs and
          expenses (including reasonable legal fees and expenses) incident to any of the
          foregoing.  

    
          
          (b)              Investor
Indemnification. Each Investor, severally and not jointly, agree           to
indemnify and hold harmless the Company, its affiliates, each of their
          officers, directors, employees and agents and their respective successors and
          assigns, from and against any losses, damages, or expenses which are caused by
          or arise out of (A) any breach or default in the performance by the Investor of
          any covenant or agreement made by the Investor in this Agreement or in any of
          the Transaction Documents; (B) any breach of warranty or representation made by
          the Investor in this Agreement or in any of the Transaction Documents; and (C)
          any and all third party actions, suits, proceedings, claims, demands,
judgments,           costs and expenses (including reasonable legal fees and expenses)
incident to           any of the foregoing.  

7 

    6.        MISCELLANEOUS.  

    
          6.1        Survival of
Representations and Warranties. The representations, warranties of the Company
and the Investors contained in or made pursuant to this Agreement shall survive the
Closing Date for a period of one year.  

    
          6.2        Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties and their
successors and permitted assigns. The Company may not assign this Agreement or any rights
or obligations hereunder without the prior written consent of each Investor. Any Investor
may assign any or all of its rights under this Agreement to any Person to whom such
Investor assigns or transfers any Securities or Conversion Shares, provided such
transferee agrees in writing to be bound, with respect to the transferred Securities or
Conversion Shares, by the provisions hereof that apply to the “Investors”.  

    
          6.3        Governing Law.
This Agreement shall be governed by and construed in accordance with the domestic laws of
the State of Colorado without giving effect to any choice of law or conflict of law
provision or rule (whether of the State of Colorado or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the State of Colorado.  

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

    
          6.5        Headings.
The headings and captions used in this Agreement are used for convenience only and are
not to be considered in construing or interpreting this Agreement. All references in this
Agreement to sections, paragraphs, exhibits and schedules shall, unless otherwise
provided, refer to sections and paragraphs hereof and exhibits and schedules attached
hereto, all of which exhibits and schedules are incorporated herein by this reference.  

    
          6.6        Notices.
Unless otherwise provided, any notice required or permitted under this Agreement shall be
given in writing and shall be deemed effectively given upon personal delivery to the
party to be notified or upon deposit with the United States Post Office, by registered or
certified mail, postage prepaid and addressed as follows:  

8 

		
	If to the Investors, at:   

If to the Company, at:     

                           

                           

                           

                           

                           

                           

                           

                           
	The addresses set forth on Schedule I.

A4S Security, Inc.

489 N. Denver Avenue

Loveland, CO 80537

Attn:  Gregory Pusey, Chairman

with a copy to:

Brownstein Hyatt & Farber, P.C.

410 Seventeenth Street, 22nd Floor

Denver, CO  80202

Attn:  Adam J. Agron

or at such other address as any
Investor or the Company may designate by giving 10 days advance written notice to all
other parties. 

    
          6.7        No Finder’s Fees.
Except for the fee payable to placement agents as disclosed by the Company, each party
represents that it neither is nor will be obligated for any finder’s or broker’s
fee or commission in connection with this transaction. The Investors agree to indemnify
and to hold harmless the Company from any liability for any commission or compensation in
the nature of a finders’ or broker’s fee (and any asserted liability) for which
the Investors or any of their officers, partners, employees, or representatives is
responsible. The Company agrees to indemnify and hold harmless the Investors from any
liability for any commission or compensation in the nature of a finders’ or broker’s
fee (and any asserted liability) for which the Company or any of its officers, employees
or representatives is responsible.  

    
          6.8        Attorneys’ Fees.
If any action at law or in equity is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees,
costs and necessary disbursements in addition to any other relief to which such party may
be entitled.  

    
          6.9        Costs
and Expenses. Each party to this Agreement shall be responsible for its own fees and
expenses in connection with this transaction; provided, however, that the Company shall
reimburse Vision Opportunity Master Fund, Ltd. for its due diligence and legal fees in an
aggregate amount not to exceed $20,000.  

    
          6.10        Amendments and Waivers.
Any term of this Agreement may be amended and the observance of any term of this
Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of (i) the Company and
(ii) Investors holding a majority of the principal amount of all outstanding Notes.  

    
          6.11        Severability.
If one or more provisions of this Agreement are held to be unenforceable under applicable
law, such provision(s) shall be excluded from this Agreement and the balance of the
Agreement shall be interpreted as if such provision(s) were so excluded and shall be
enforceable in accordance with its terms.  

9 

    
          6.12        Entire Agreement.
This Agreement, together with all exhibits and schedules hereto, constitutes the entire
agreement and understanding of the parties with respect to the subject matter hereof and
supersedes any and all prior negotiations, correspondence, agreements, understandings
duties or obligations between the parties with respect to the subject matter hereof.  

    
          6.13        Further Assurances.
From and after the date of this Agreement, upon the request of a majority of the
Investors or the Company, the Company and the Investors shall execute and deliver such
instruments, documents or other writings as may be reasonably necessary or desirable to
confirm and carry out and to effectuate fully the intent and purposes of this Agreement.  

    
          6.14        Defined
Terms. The following terms shall have the following assigned meanings: 

    
          
          
          (a)                     “Knowledge”,
with respect to the Company, means the actual           knowledge of any director or
executive officer of the Company without the           requirement for inquiry or
investigation.  

    
          
          
          (b)                     “Lien” means
a lien, charge, security interest, encumbrance,           right of first refusal or other
restriction, except for a lien for current taxes           not yet due and payable and a
minor imperfection of title, if any, not material           in nature or amount and not
materially detracting from the value or impairing           the use of the property
subject thereto or impairing the operations or proposed           operations of the
Company.  

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

    
          6.15        Mutual
Drafting. This Agreement is the result of the joint efforts of the Company and the
Investors, and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of the parties and there shall be no construction against any
party based on any presumption of that party’s involvement in the drafting thereof.  

[signature page follows] 

10 

        IN
WITNESS WHEREOF, the parties hereto have executed this Securities Purchase Agreement as of
the Effective Date. 

		
		THE COMPANY:

A4S SECURITY, INC.

By:      ___________________________________

         Gregory Pusey

         Chairman

INVESTORS:

VISION OPPORTUNITY MASTER FUND, LTD.

By:_________________________________________

Name:

Title:

_________________________________________

Name:

_________________________________________

Name:

_________________________________________

Name:

11 

Schedule I 

Investor names,
addresses and Securities purchased 

		Note
		"A"
		Warrants

"B"
		SWATW
	
	Vision Opportunity Master Fund, Ltd.	 	 	$	 2,268,000	 	 	648,000	 	 	648,000	 	 	648,000	 
	20 W. 55th St., 5th Floor	 	 
	New York, NY 10019	 	 
	Fax: 212.867.1416	 	 
	 	 	 
	The Don and Verla Yager Trust	 	 	$	    12,500	 	 	3,500	 	 	3,500	 	 	3,500	 
	Jill Pusey	 	 	$	    49,000	 	 	14,000	 	 	14,000	 	 	3,500	 
	Gregory Pusey	 	 	$	    49,000	 	 	14,000	 	 	14,000	 	 	3,500	 
	Christopher Pusey	 	 	$	    12,500	 	 	3,500	 	 	3,500	 	 	3,500	 
	Jill Pusey CF Jacqueline Pusey	 	 	$	    12,500	 	 	3,500	 	 	3,500	 	 	3,500	 
	106 South University Blvd., Unit 14	 	 
	Denver, CO 80209	 	 
	 	 	 
	Weinberger-Vermut Living Trust	 	 	$	    24,500	 	 	7,000	 	 	7,000	 	 	7,000	 
	C\O: Thomas R Weinberger, TTEE	 	 
	229 North Saltair Ave	 	 
	Los Angeles, CA 90049	 	 
	 	 	 
	James L. Cruce	 	 	$	    24,500	 	 	7,000	 	 	7,000	 	 	7,000	 
	4675 Ponderosa Trail	 	 
	Littleton, CO 80125	 	 

Exhibit A  

Promissory Note 

Exhibit B  

Common Stock Purchase
Warrants 

Exhibit C  

Registration Rights
Agreement 

Exhibit D  

Certificate of
Designation

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