Document:

SHARE purchase and sale agreement

                                 by and between

                           Incandent CAPITAL, L.L.C.,

                                   as Seller,

                                       and

                               BIB HOLDINGS, LTD.,

                                  as Purchaser,

                              Dated August 26, 2004

                                    V.8.26.04

<PAGE>

                        SHARE PURCHASE AND SALE AGREEMENT

THIS AGREEMENT is made as of the 26th day of August, 2004

AMONG:

            BIB HOLDINGS, LTD., a corporation formed pursuant to the laws of the
            State of Nevada and having an office for business located at 7409
            Oak Grove Avenue, Las Vegas, Nevada 89117 ("BIB")

AND:

            INCODE CORPORATION, a company formed pursuant to the laws of the
            State of Delaware and having an office for business located at PO
            Box 284, Mount Arlington, New Jersey 07856 ("Incode")

AND:

            INCANDENT CAPITAL, L.L.C., a Delaware limited liability company,
            having an address of PO Box 284, Mount Arlington, New Jersey 07856
            ("Incandent")

WHEREAS:

A. Incandent owns 100% of the presently issued and outstanding Incode Shares;

B. Incode owns 100% of the presently  issued and  outstanding  shares of capital
stock of  Intrance  Corporation,  a  Delaware  corporation  ("Intrance"),  Inseq
Corporation,  a Delaware corporation  ("Inseq"),  Insys Corporation,  a Delaware
corporation  ("Insys"),  and  Intrance  owns 100% of the  presently  issued  and
outstanding  shares of capital stock of KK Corporation,  a Delaware  Corporation
("KK") (Intrance,  Inseq,  Insys and KK shall collectively be referred to herein
as the "Incode Subsidiaries");

C. BIB is a reporting company whose common stock is quoted on the NASD "Bulletin
Board"; and

D. The  respective  Boards of Directors  of BIB,  Incode and  Incandent  deem it
advisable  and in the best  interests  of BIB and Incode  that  Incode  become a
wholly-owned subsidiary of BIB (the "Acquisition") pursuant to this Agreement.

NOW THEREFORE THIS AGREEMENT  WITNESSETH THAT in  consideration  of the premises
and the mutual covenants,  agreements,  representations and warranties contained
herein, and other good and valuable  consideration,  the receipt and sufficiency
of which is hereby acknowledged, the parties hereto hereby agree as follows:

                                    ARTICLE 1
                         DEFINITIONS AND INTERPRETATION

Definitions

1.1      In this Agreement the following terms will have the following meanings:

      (a) "Acquisition" means the Acquisition,  at the Closing, of Incode by BIB
pursuant to this Agreement;

      (b) "Acquisition Shares" means the 1,000,000 fully paid and non-assessable
shares of BIB  Series A  Convertible  Preferred  Stock to be issued to Incode at
Closing pursuant to the terms of the Acquisition, issued pursuant to the form of
Certificate of Designation attached hereto as Exhibit 1.1(b);

      (c) "Agreement" means this share purchase agreement among BIB, Incode, and
Incandent;

      (d)  "Closing"  means  the  completion,   on  the  Closing  Date,  of  the
transactions contemplated hereby in accordance with Article 9 hereof;

      (e) "Closing Date" means the day on which all conditions  precedent to the
completion of the  transaction  as  contemplated  hereby have been  satisfied or
waived;

      (f)  "Cornell  Facility"  means  BIB's  current  equity line of credit and
convertible debenture financing with Cornell Capital Partners, L.P.;

<PAGE>

      (g) "BIB Accounts Payable and Liabilities"  means all accounts payable and
liabilities  of BIB,  on a  consolidated  basis,  due  and  owing  or  otherwise
constituting a binding obligation of BIB and its subsidiaries  (other than a BIB
Material Contract) as of June 30, 2004;

      (h) "BIB  Accounts  Receivable"  means all accounts  receivable  and other
debts owing to BIB, on a consolidated basis, as of June 30, 2004;

      (i) "BIB Assets" means the  undertaking and all the property and assets of
the BIB Business of every kind and description  wheresoever  situated including,
without limitation,  BIB Equipment,  BIB Inventory,  BIB Material Contracts, BIB
Accounts Receivable,  BIB Cash, BIB Intangible Assets and BIB Goodwill,  and all
credit cards, charge cards and banking cards issued to BIB;

      (j) "BIB Business" means all aspects of any business  conducted by BIB and
its  subsidiaries,  except for matters solely related to being a publicly traded
company;

      (k) "BIB  Cash"  means all cash on hand or on deposit to the credit of BIB
and its subsidiaries on the Closing Date;

      (l) "BIB Common Shares" means the shares of common stock in the capital of
BIB;

      (m) "BIB Debt to  Related  Parties"  means  the  debts  owed by BIB to any
affiliate, director or officer of BIB;

      (n)  "BIB  Equipment"  means  all  machinery,  equipment,  furniture,  and
furnishings used in the BIB Business;

      (o)  "BIB  Financial   Statements"   means,   collectively,   the  audited
consolidated  financial statements of BIB for the fiscal year ended December 31,
2003,  and the unaudited  consolidated  financial  statements of BIB for the six
month period ended June 30, 2004;

      (p) "BIB  Goodwill"  means the goodwill of the BIB Business  including the
right to all  corporate,  operating  and  trade  names  associated  with the BIB
Business,  or any variations of such names as part of or in connection  with the
BIB Business,  all books and records and other  information  relating to the BIB
Business, all necessary licenses and authorizations and any other rights used in
connection with the BIB Business;

      (q) "BIB  Insurance  Policies"  means the public  liability  insurance and
insurance  against  loss or damage to the BIB  Assets  and the BIB  Business  as
described in Schedule "Q" hereto;

      (r) "BIB Intangible  Assets" means all of the intangible assets of BIB and
its subsidiaries,  including,  without limitation, BIB Goodwill, all trademarks,
logos,  copyrights,  designs,  and other intellectual and industrial property of
BIB and its subsidiaries;

      (s) "BIB  Inventory"  means all inventory and supplies of the BIB Business
as of June 30, 2004;

      (t) "BIB  Material  Contracts"  means the  burden  and  benefit of and the
right, title and interest of BIB and its subsidiaries in, to and under all trade
and non-trade contracts, engagements or commitments, whether written or oral, to
which BIB or its  subsidiaries  are entitled  whereunder BIB or its subsidiaries
are  obligated  to pay or  entitled  to  receive  the  sum of  $10,000  or  more
including,  without  limitation,  any pension plans, profit sharing plans, bonus
plans, loan agreements,  security  agreements,  indemnities and guarantees,  any
agreements with employees, lessees, licensees, managers, accountants, suppliers,
agents, distributors,  officers, directors,  attorneys or others which cannot be
terminated  without  liability on not more than one month's notice,  each as set
forth on Schedule "T";

      (u) "BIB Real Property" means a complete list of (i) all real property and
interests  in  real  property   owned  in  fee  by  BIB  and  its   subsidiaries
(individually,   a  "BIB  Owned  Property"  and  collectively,  the  "BIB  Owned
Properties"),  and (ii) all real property and interests in real property  leased
by BIB or its subsidiaries as lessee or lessor set forth on Schedule "U".

      (v) "Place of  Closing"  means the  offices  of  Sichenzia  Ross  Friedman
Ference LLP, or such other place as BIB,  Incode and Incode may  mutually  agree
upon;

<PAGE>

      (w) "Incode Accounts  Payable and Liabilities"  means all accounts payable
and  liabilities of Incode and Incode  Subsidiaries,  due and owing or otherwise
constituting a binding obligation of Incode and Incode  Subsidiaries (other than
an Incode or Incode Subsidiaries Material Contract) as of June 30, 2004;

      (x) "Incode Accounts  Receivable" means all accounts  receivable and other
debts owing to Incode or Incode Subsidiaries, as of June 30, 2004;

      (y)  "Incode  Assets"  means all the  property  and  assets of the  Incode
Business of every kind and description  wheresoever situated including,  without
limitation,  Incode  Equipment,  Incode  Inventory,  Incode Material  Contracts,
Incode Accounts  Receivable,  Incode Cash,  Incode  Intangible Assets and Incode
Goodwill,  and all credit cards, charge cards and banking cards issued to Incode
or Incode Subsidiaries;

      (z) "Incode  Business"  means all  aspects of the  business  conducted  by
Incode and Incode Subsidiaries;

      (aa)  "Incode  Cash" means all cash on hand or on deposit to the credit of
Incode or Incode Subsidiaries on the June 30, 2004;

      (bb) "Incode Debt to Related  Parties"  means the debts owed by Incode and
its subsidiaries to Incode or to any family member thereof, or to any affiliate,
director or officer of Incode, Incode Subsidiaries or Incandent;

      (cc) "Incode  Equipment" means all machinery,  equipment,  furniture,  and
furnishings used in the Incode Business;

      (dd) "Incode  Financial  Statements"  means,  collectively,  the unaudited
consolidated  financial statements of Incode and Incode Subsidiaries for the two
fiscal years ended December 31, 2003, and the unaudited  consolidated  financial
statements of Incode for the six month period ended June 30, 2004;

      (ee) "Incode  Goodwill" means the goodwill of the Incode Business together
with the  exclusive  right of BIB to represent  itself as carrying on the Incode
Business in succession of Incode  subject to the terms hereof,  and the right to
use any words indicating that the Incode Business is so carried on including the
right to use the name "Incode" or "Incode  Corporation" or any variation thereof
as part of the name of or in  connection  with the Incode  Business  or any part
thereof  carried on or to be carried on by Incode,  the right to all  corporate,
operating and trade names associated with the Incode Business, or any variations
of  such  names  as part of or in  connection  with  the  Incode  Business,  all
telephone listings and telephone advertising contracts,  all lists of customers,
books and records and other  information  relating to the Incode  Business,  all
necessary  licenses and  authorizations  and any other rights used in connection
with the Incode Business;

      (ff) "Incode Insurance  Policies" means the public liability insurance and
insurance against loss or damage to the Incode Assets and the Incode Business as
described in Schedule "FF" hereto;

      (gg) "Incode  Intangible  Assets"  means all of the  intangible  assets of
Incode, including, without limitation,  Incode Goodwill, all trademarks,  logos,
copyrights,  designs,  and other intellectual and industrial  property of Incode
and its subsidiaries;

      (hh) "Incode  Inventory"  means all  inventory  and supplies of the Incode
Business as of the Closing Date;

      (ii) "Incode  Material  Contracts" means the burden and benefit of and the
right, title and interest of Incode or Incode  Subsidiaries in, to and under all
trade and non-trade  contracts,  engagements or commitments,  whether written or
oral, to which Incode or Incode  Subsidiaries is entitled in connection with the
Incode Business whereunder Incode is obligated to pay or entitled to receive the
sum of $10,000 or more including,  without limitation, any pension plans, profit
sharing plans, bonus plans, loan agreements,  security  agreements,  indemnities
and guarantees,  any agreements with employees,  lessees,  licensees,  managers,
accountants, suppliers, agents, distributors,  officers, directors, attorneys or
others which cannot be terminated without liability on not more than one month's
notice, each as set forth on Schedule "II");

      (jj) "Incode Real Property" means a complete list of (i) all real property
and  interests  in real  property  owned in fee by Incode  and its  subsidiaries
(individually,  a "Incode Owned  Property" and  collectively,  the "Incode Owned
Properties"),  and (ii) all real property and interests in real property  leased
by Incode or its subsidiaries as lessee or lessor, set forth on Schedule "JJ".

<PAGE>

      (kk) "Incode Related Party Debts" means the debts owed by Incode or by any
family member  thereof,  or by any  affiliate,  director or officer of Incode or
Incode, to Incode; and

      (ll) "Incode  Shares"  means all of the issued and  outstanding  shares of
Incode's equity stock.

Any other terms defined within the text of this Agreement will have the meanings
so ascribed to them.

Captions and Section Numbers

1.2 The headings and section references in this Agreement are for convenience of
reference  only and do not form a part of this Agreement and are not intended to
interpret,  define or limit the scope, extent or intent of this Agreement or any
provision thereof.

Section References and Schedules

1.3 Any reference to a particular "Article", "section", "paragraph", "clause" or
other  subdivision  is to the  particular  Article,  section,  clause  or  other
subdivision  of this  Agreement  and any  reference to a Schedule by letter will
mean the appropriate  Schedule  attached to this Agreement and by such reference
the appropriate Schedule is incorporated into and made part of this Agreement

Severability of Clauses

1.4 If any part of this  Agreement  is  declared  or held to be invalid  for any
reason, such invalidity will not affect the validity of the remainder which will
continue in full force and effect and be construed as if this Agreement had been
executed without the invalid portion, and it is hereby declared the intention of
the parties that this Agreement  would have been executed  without  reference to
any portion  which may,  for any  reason,  be  hereafter  declared or held to be
invalid.

                                    ARTICLE 2
                                 THE ACQUISITION

Sale of Shares

2.1 Incandent hereby agrees to sell to BIB the Incode Shares in exchange for the
Acquisition  Shares on the  Closing  Date and to  transfer to BIB on the Closing
Date a 100% undivided  interest in and to the Incode Shares free from all liens,
mortgages,  charges, pledges,  encumbrances or other burdens with all rights now
or thereafter attached thereto.

Allocation of Consideration

2.2 The  Acquisition  Shares  shall be  allocated  to Incode on the basis of one
Acquisition Share for each one Incode Share held by Incandent.

Adherence with Applicable Securities Laws

2.2 Incandent agrees that it is acquiring the Acquisition  Shares for investment
purposes and will not offer, sell or otherwise  transfer,  pledge or hypothecate
any of the  Acquisition  Shares  issued  to  them  (other  than  pursuant  to an
effective  Registration  Statement under the Securities Act of 1933, as amended)
directly or indirectly unless:

      (a)   the sale is to BIB;

      (b)   the sale is made pursuant to the exemption from  registration  under
            the  Securities  Act of  1933,  as  amended,  provided  by Rule  144
            thereunder; or

      (c)   the  Acquisition  Shares  are sold in a  transaction  that  does not
            require  registration  under the Securities Act of 1933, as amended,
            or any applicable United States state laws and regulations governing
            the offer and sale of  securities,  and the vendor has  furnished to
            BIB an  opinion of  counsel  to that  effect or such  other  written
            opinion as may be reasonably required by BIB.

         Incandent   acknowledges   that  the   certificates   representing  the
Acquisition Shares shall bear the following legend:

<PAGE>

            NO SALE,  OFFER TO SELL,  OR TRANSFER OF THE SHARES  REPRESENTED  BY
            THIS CERTIFICATE SHALL BE MADE UNLESS A REGISTRATION STATEMENT UNDER
            THE FEDERAL  SECURITIES ACT OF 1933, AS AMENDED,  IN RESPECT OF SUCH
            SHARES  IS THEN IN  EFFECT  OR AN  EXEMPTION  FROM THE  REGISTRATION
            REQUIREMENTS OF SAID ACT IS THEN IN FACT APPLICABLE TO SAID SHARES.

                                    ARTICLE 3
                      REPRESENTATIONS AND WARRANTIES OF BIB

Representations and Warranties

3.1 BIB hereby represents and warrants in all material respects to Incandent and
Incode,  with the intent that Incandent and Incode will rely thereon in entering
into  this  Agreement  and  in  approving  and   completing   the   transactions
contemplated hereby, that:

BIB - Corporate Status and Capacity

      (a)   Incorporation.  BIB and its wholly-owned subsidiary,  BIB, Ltd., are
            corporations duly incorporated and validly subsisting under the laws
            of the State of Nevada,  and is in good  standing with the office of
            the Secretary of State for the State of Nevada;

      (b)   Carrying on Business.  BIB  conducts  the business  described in its
            filings with the  Securities  and Exchange  Commission  and does not
            conduct any other business.  BIB is duly authorized to carry on such
            business,  in good  standing in Delaware and New York and such other
            jurisdictions  where the nature of its business requires it to be so
            authorized  (such  certificates  of authority  and good standing are
            included herewith in Exhibit 3.1(b)), except where the failure to be
            so authorized would not have a Material  Adverse Effect.  The nature
            of the BIB Business does not require BIB to register or otherwise be
            qualified to carry on business in any other jurisdictions;

      (c)   Corporate  Capacity.  BIB  has the  corporate  power,  capacity  and
            authority to own the BIB Assets and to enter into and complete  this
            Agreement;

      (d)   Reporting Status;  Listing. BIB is required to file reports with the
            Securities  and  Exchange  Commission  pursuant  to  the  Securities
            Exchange Act of 1934,  the BIB Common  Shares are quoted on the NASD
            "Bulletin  Board",  and all reports required to be filed by BIB with
            the  Securities  and  Exchange  Commission  or NASD have been timely
            filed (the "Public Reports");

BIB - Capitalization

      (e)   Authorized  Capital.  The  authorized  capital  of BIB  consists  of
            300,000,000 BIB Common Shares, $0.001 par value and 5,000,000 shares
            of  preferred  stock,  $0.001 par value,  of which  181,020,170  BIB
            Common  Shares,  and no shares of  preferred  stock,  are  presently
            issued and outstanding.  The authorized  capital of BIB Ltd consists
            of 2,000  common  shares,  $0.001  par  value  and  2,000  shares of
            preferred stock, $0.001 par value, of which 2,000 common shares, and
            no shares of preferred stock, are presently issued and outstanding;

      (f)   No Option,  Warrant or Other Right.  No person,  firm or corporation
            has any agreement,  option,  warrant,  preemptive right or any other
            right capable of becoming an agreement, option, warrant or right for
            the acquisition of BIB Common Shares or Preferred  Stock, or for the
            purchase,  subscription or issuance of any of the unissued shares in
            the capital of BIB,  except as disclosed in the Public  Reports.  No
            person,  firm or  corporation  has any agreement,  option,  warrant,
            preemptive   right  or  any  other  right  capable  of  becoming  an
            agreement,  option, warrant or right for the acquisition of BIB Ltd.
            common shares, or for the purchase,  subscription or issuance of any
            of the unissued shares in the capital of BIB Ltd.;

      (g)   Compliant Issuance.  All of the issued capital stock of BIB has been
            issued in compliance with all federal and state securities laws;

<PAGE>

BIB - Records and Financial Statements

      (h)   Charter Documents. The charter documents of BIB and its subsidiaries
            (which  subsidiaries  are disclosed in Exhibit 3.1(h) herewith) have
            not been  altered  since the  incorporation  of each,  respectively,
            except as filed with the Secretary of State of Nevada;

      (i)   Corporate  Minute Books.  The corporate  minute books of BIB and its
            subsidiaries are complete and each of the minutes  contained therein
            accurately  reflect the actions that were taken at a duly called and
            held meeting or by consent without a meeting. All actions by BIB and
            its subsidiaries which required director or shareholder approval are
            reflected on the corporate minute books of BIB and its subsidiaries.
            BIB and its  subsidiaries  are not in  violation or breach of, or in
            default with respect to, any term of their  respective  Certificates
            of  Incorporation  (or other  charter  documents)  or  by-laws,  and
            statue, rule or regulation or judgment, order or decree of any court
            or  governmental  authority,  or any  contract,  agreement  or other
            instrument  to  which  BIB  is a  party  or  by  which  BIB  or  its
            subsidiaries or any of their respective  properties or assets may be
            bound.

      (j)   BIB  Financial  Statements.  The BIB  Financial  Statements  present
            fairly,  in  all  material  respects,  the  assets  and  liabilities
            (whether  accrued,  absolute,  contingent or otherwise) of BIB, on a
            consolidated  basis,  as of the respective  dates  thereof,  and the
            sales and  earnings of the BIB Business  during the periods  covered
            thereby,  in  all  material  respects  and  have  been  prepared  in
            accordance   with   generally   accepted    accounting    principles
            consistently applied;

      (k)   BIB  Accounts  Payable and  Liabilities.  There are no  liabilities,
            contingent,  disputed or otherwise, of BIB or its subsidiaries which
            are not  disclosed in Exhibit  3.1(k) hereto or reflected in the BIB
            Financial Statements and the BIB Financial Statements,  except those
            incurred in the ordinary  course of business  since the date of such
            Exhibit and  neither BIB nor its  subsidiaries  have  guaranteed  or
            agreed to guarantee any debt,  liability or other  obligation of any
            person, firm or corporation;

      (l)   BIB Accounts Receivable. All the BIB Accounts Receivable result from
            bona fide  business  transactions  and  services  actually  rendered
            without,  to the  knowledge and belief of BIB, any basis for a claim
            by the obligor for set-off or counterclaim;

      (m)   Disclosed  Liabilities.  Except  as set  forth in the BIB  Financial
            Statements or as disclosed in a disclosure  schedule hereto, BIB and
            its subsidiaries have no liabilities which would be required by GAAP
            to be set forth on a balance sheet of BIB, except as incurred in the
            ordinary course of business;

      (n)   No Debt to Related  Parties.  Except as disclosed in Public Reports,
            neither BIB nor any of its  subsidiaries is, and on Closing will not
            be,  indebted  to any  affiliate,  director or officer of BIB except
            accounts  payable on account of bona fide business  transactions  of
            BIB  incurred  in  normal  course  of the  BIB  Business,  including
            employment  agreements,  none  of  which  are  more  than 60 days in
            arrears;

      (o)   No Related Party Debt to BIB. No director or officer or affiliate of
            BIB is now indebted to or under any  financial  obligation to BIB or
            any  subsidiary  on any account  whatsoever,  except for advances on
            account of travel and other expenses;

      (p)   No Dividends.  No dividends or other  distributions on any shares in
            the capital of BIB have been made,  declared or authorized since the
            date of BIB Financial Statements;

      (q)   No  Payments.  No payments of any kind have been made or  authorized
            since the date of the BIB  Financial  Statements  to or on behalf of
            officers,  directors,  shareholders  or  employees  of  BIB  or  its
            subsidiaries  or under  any  management  agreements  with BIB or its
            subsidiaries,  except  payments  made  in  the  ordinary  course  of
            business  and at the regular  rates of salary or other  remuneration
            payable to them;

      (r)   No  Pension  Plans.  There are no  pension,  profit  sharing,  group
            insurance  or similar  plans or other  deferred  compensation  plans
            affecting BIB;

<PAGE>

      (s)   No Adverse Events. Since the date of the BIB Financial Statements

            (i)   there  has  not  been  any  material  adverse  change  in  the
                  consolidated  financial  position  or  condition  of BIB,  its
                  subsidiaries, its liabilities or the BIB Assets or any damage,
                  loss or other  change in  circumstances  materially  affecting
                  BIB,  the BIB  Business  or the BIB  Assets or BIB's  right to
                  carry on the BIB Business,  other than changes in the ordinary
                  course of business,

            (ii)  there  has not been  any  damage,  destruction,  loss or other
                  event  (whether or not covered by  insurance)  materially  and
                  adversely affecting BIB, its subsidiaries, the BIB Business or
                  the BIB Assets,

            (iii) there has not been any material  increase in the  compensation
                  payable or to become  payable by BIB to any of BIB'  officers,
                  employees or agents or any bonus,  payment or arrangement made
                  to or with any of them,

            (iv)  the BIB  Business  has been and  continues to be carried on in
                  the ordinary course,

            (v)   BIB has not waived or surrendered any right of material value,
                  and

            (vi)  neither BIB nor its subsidiaries  have discharged or satisfied
                  or paid any lien or  encumbrance  or  obligation  or liability
                  other  than  current  liabilities  in the  ordinary  course of
                  business.

BIB - Income Tax Matters

      (t)   Tax Returns. All tax returns and reports of BIB and its subsidiaries
            required  by law to be filed have been filed and are true,  complete
            and correct,  and any taxes  payable in  accordance  with any return
            filed by BIB and its  subsidiaries  or in accordance with any notice
            of assessment or  reassessment  issued by any taxing  authority have
            been so paid;

      (u)   Current Taxes.  Adequate provisions have been made for taxes payable
            for the current period for which tax returns are not yet required to
            be filed and there are no agreements, waivers, or other arrangements
            providing for an extension of time with respect to the filing of any
            tax  return  by, or  payment  of,  any tax,  governmental  charge or
            deficiency  by BIB  or its  subsidiaries.  BIB is not  aware  of any
            contingent  tax  liabilities  or any grounds  which  would  prompt a
            reassessment  including  aggressive treatment of income and expenses
            in filing earlier tax returns;

      (v)   No Liens. No tax liens have been filed with respect to the assets of
            BIB or any  subsidiary  and no claims have been  asserted in writing
            with respect to any taxes of BIB or any subsidiary.

      (w)   Accruals.  All taxes  required  to be accrued  have been  accrued or
            reserved  on  the  books  and  records  of BIB  in  accordance  with
            generally  accepted  accounting  principles.  Each  of BIB  and  its
            subsidiaries  has  complied  with all  applicable  laws,  rules  and
            regulations  related to the payment and withholding of taxes and has
            duly and timely withheld from employees'  salaries,  wages and other
            compensation and have paid over the appropriate  taxing  authorities
            all amounts required to be so withheld and paid over for all periods
            under all  applicable  laws,  except where the failure of any of the
            foregoing  would not have a material  adverse  effect on BIB and its
            subsidiaries taken as a whole;

      (x)   Assessment.  No written  agreement or other  document  extending the
            period of assessment  or  collection  of any taxes,  and no power of
            attorney  with respect to any such taxes has been  executed or filed
            with the IRS or any other taxing authority;

      (y)   No  Deficiencies.  Neither the IRS nor any other taxing authority is
            as of the date of this Agreement asserting in writing against either
            of BIB  or any of its  subsidiaries  any  deficiency  or  claim  for
            additional taxes or any adjustment of taxes

BIB - Applicable Laws and Legal Matters

      (z)   Licenses.  BIB and its subsidiaries hold all licenses and permits as
            may be  requisite  for carrying on the BIB Business in the manner in
            which it has heretofore  been carried on, which licenses and permits
            have been  maintained  and  continue to be in good  standing  except
            where the  failure to obtain or  maintain  such  licenses or permits
            would not have a material adverse effect on the BIB Business;

<PAGE>

      (aa)  Applicable Laws.  Neither BIB nor its subsidiaries have been charged
            with or received notice of breach of any laws, ordinances, statutes,
            regulations, by-laws, orders or decrees to which they are subject or
            which  apply to them the  violation  of which  would have a material
            adverse effect on the BIB, and to BIB's  knowledge,  neither BIB nor
            its  subsidiaries are in breach of any laws,  ordinances,  statutes,
            regulations,  bylaws,  orders or decrees the  contravention of which
            would result in a material adverse impact on the BIB;

      (bb)  Pending  or  Threatened  Litigation.   There  is  no  litigation  or
            administrative  or  governmental  proceedings  pending or threatened
            against,  claimed or  relating  to BIB,  its  subsidiaries,  the BIB
            Business,  or any of the BIB Assets nor does BIB have any  knowledge
            of any  deliberate act or omission of BIB or its  subsidiaries  that
            would form any material basis for any such action or proceeding (all
            pending  or  threatened   litigation   or  claims  or   governmental
            proceedings are disclosed in the schedule attached hereto as Exhibit
            3.1(bb));

      (cc)  No  Bankruptcy.  Neither  BIB nor its  subsidiaries  have  made  any
            voluntary  assignment or proposal under  applicable laws relating to
            insolvency and bankruptcy and no bankruptcy  petition has been filed
            or presented  against BIB or its  subsidiaries and no order has been
            made or a  resolution  passed  for the  winding-up,  dissolution  or
            liquidation of BIB or its subsidiaries;

      (dd)  Labor  Matters.  Neither BIB nor its  subsidiaries  are party to any
            collective  agreement  relating to the BIB  Business  with any labor
            union  or  other  association  of  employees  and no part of the BIB
            Business has been  certified as a unit  appropriate  for  collective
            bargaining or, to the knowledge of BIB, has made any attempt in that
            regard;

      (ee)  Finder's  Fees.  Neither BIB nor its  subsidiaries  are party to any
            agreement which provides for the payment of finder's fees, brokerage
            fees,  commissions  or other fees or amounts which are or may become
            payable to any third  party in  connection  with the  execution  and
            delivery of this Agreement and the transactions contemplated herein;

Execution and Performance of Agreement

      (ff)  Authorization and Enforceability. The execution and delivery of this
            Agreement,  and  the  completion  of the  transactions  contemplated
            hereby,  have  been duly and  validly  authorized  by all  necessary
            corporate action on the part of BIB;

      (gg)  No Violation or Breach. Other than with respect to matters for which
            waivers will be obtained  prior to the Closing  Date,  the execution
            and performance of this Agreement will not:

            (i)   violate the charter  documents  of BIB or result in any breach
                  of, or default under,  any loan agreement,  mortgage,  deed of
                  trust, or any other agreement to which BIB or its subsidiaries
                  are party,

            (ii)  give any person any right to terminate or cancel any agreement
                  including,  without limitation, the BIB Material Contracts, or
                  any right or rights enjoyed by BIB or its subsidiaries,

            (iii) result  in  any  alteration  of  BIB'  or  its   subsidiaries'
                  obligations   under  any   agreement   to  which  BIB  or  its
                  subsidiaries are party including,  without limitation, the BIB
                  Material Contracts,

            (iv)  result in the creation or imposition of any lien,  encumbrance
                  or  restriction  of any nature  whatsoever in favor of a third
                  party upon or against BIB or the BIB Assets,

            (v)   result in the  imposition  of any tax  liability to BIB or its
                  subsidiaries, or

            (vi)  violate any court  order or decree to which  either BIB or its
                  subsidiaries are subject;

<PAGE>

The BIB Assets - Ownership and Condition

      (hh)  Business  Assets.  The BIB Assets  comprise  all of the property and
            assets of the BIB Business, and no other person, firm or corporation
            owns any assets used by BIB or its subsidiaries in operating the BIB
            Business,   whether  under  a  lease,   rental  agreement  or  other
            arrangement;

      (ii)  Title. BIB or its subsidiaries are the legal and beneficial owner of
            the BIB Assets,  free and clear of all  mortgages,  liens,  charges,
            pledges,   security   interests,   encumbrances   or  other   claims
            whatsoever, save and except as disclosed in the Public Reports;

      (jj)  BIB  Material  Contracts.  The  BIB  Material  Contracts  listed  in
            Schedule "T" constitute all of the material contracts of BIB and its
            subsidiaries;

      (kk)  No  Default.  There  has  not  been  any  default  in  any  material
            obligation  of BIB or any other party to be  performed  under any of
            the BIB Material Contracts, each of which is in good standing and in
            full force and effect and unamended (except as disclosed in Schedule
            "T" hereto),  and BIB is not aware of any default in the obligations
            of any other party to any of the BIB Material Contracts;

      (ll)  BIB Insurance Policies. BIB and its subsidiaries maintain the public
            liability  insurance and insurance against loss or damage to the BIB
            Assets and the BIB Business as described in Schedule "Q" hereto;

      (mm)  BIB Real Property.  Schedule U sets forth a complete list of (i) all
            real property and interests in real property owned in fee by BIB and
            its   subsidiaries   (individually,   a  "BIB  Owned  Property"  and
            collectively,  the  "BIB  Owned  Properties"),  and  (ii)  all  real
            property  and  interests  in  real  property  leased  by  BIB or its
            subsidiaries as lessee or lessor (individually, a "BIB Real Property
            Lease" and collectively the "BIB Real Property Leases"; collectively
            with the BIB  Owned  Properties,  the "BIB  Property").  BIB and its
            subsidiaries  have  good and  marketable  fee title to all BIB Owned
            Property,  free and clear of all liens or encumbrances of any nature
            whatsoever ("Liens"),  except Liens set forth on Schedule U. The BIB
            Property  constitutes all interests in real property  currently used
            or currently held for use in connection with the business of BIB and
            its subsidiaries which are necessary for the continued  operation of
            the BIB Business.  BIB or its subsidiaries has valid and enforceable
            leasehold  interest  under  each of the BIB  Real  Property  Leases,
            subject  to  applicable  bankruptcy,   insolvency,   reorganization,
            moratorium and similar laws affecting creditors' rights and remedies
            generally and subject,  as to enforceability,  to general principles
            of  equity  (regardless  of  whether  enforcement  is  sought  in  a
            proceeding at law or in equity),  and neither BIB nor any subsidiary
            has  received  any written  notice of any default or event that with
            notice or lapse of time, or both,  would constitute a default by the
            BIB or any subsidiary under any of the BIB Real Property Leases. All
            of the BIB Property,  buildings,  fixtures and improvements  thereon
            owned or leased by BIB and its  subsidiaries  are in good  operating
            condition and repair (subject to normal wear and tear).

      (nn)  Environmental  Matters.  The operations of BIB and its  subsidiaries
            are in compliance  with all applicable  environmental  laws. BIB and
            each of its subsidiaries has obtained all permits required under all
            applicable  environmental  laws  necessary to operate its  business.
            Neither  BIB  nor  any of its  subsidiaries  is the  subject  of any
            outstanding   written  order  or  agreement  with  any  governmental
            authority or person  respecting  environmental  laws or any remedial
            action relating to  environmental  laws.  Neither BIB nor any of its
            subsidiaries  has received any written  communication  alleging that
            BIB  or  any  of  its  subsidiaries  may  be  in  violation  of  any
            environmental  law. There is not located at any of the properties of
            BIB or any of its  subsidiaries  any  underground  storage  tanks or
            hazardous  materials,  expect  a used  in  the  ordinary  course  of
            business.

      (oo)  No Compensation on Termination. There are no agreements, commitments
            or understandings relating to severance pay or separation allowances
            on  termination  of  employment  of  any  employee  of  BIB  or  its
            subsidiaries.  Neither BIB nor its  subsidiaries  are obliged to pay
            benefits or share  profits with any employee  after  termination  of
            employment except as required by law;

<PAGE>

BIB Assets - BIB Equipment

      (pp)  BIB  Equipment.  The BIB Equipment  has been  maintained in a manner
            consistent  with  that  of  a  reasonably  prudent  owner  and  such
            equipment is in good working condition;

BIB Assets - BIB Goodwill and Other Assets

      (qq)  BIB  Goodwill.  BIB and its  subsidiaries  does not carry on the BIB
            Business under any other business or trade names.  BIB does not have
            any knowledge of any  infringement by BIB or its subsidiaries of any
            patent, trademarks, copyright or trade secret;

The BIB Business

      (rr)  Maintenance  of  Business.  Since  the  date  of the  BIB  Financial
            Statements,  BIB and its  subsidiaries  have  not  entered  into any
            material  agreement or commitment  except in the ordinary course and
            except as disclosed herein.

BIB - Miscellaneous

            Acquisition   Shares.  The  Acquisition  Shares  when  delivered  to
            Incandent  pursuant to the  Acquisition  shall be validly issued and
            outstanding  as  fully  paid  and  non-assessable   shares  and  the
            Acquisition  Shares shall be transferable  upon the books of BIB, in
            all  cases  subject  to  the  provisions  and  restrictions  of  all
            applicable securities laws;No Misrepresentation

            No Misrepresentation. No representation or warranty of BIB contained
            in this Agreement or in any schedule hereto or in any certificate or
            other instrument furnished by BIB to Incandent pursuant to the terms
            hereof, contains any untrue statement of a material fact or omits to
            state a material  fact  necessary to make the  statements  contained
            herein or therein not misleading.

            Liabilities.  Upon  consummation  of  the  sale  of  BIB  Ltd.,  the
            aggregate liabilities of BIB shall not exceed $500,000.

            Sarbanes-Oxley Certifications.  The certifications filed by BIB with
            the   Securities   and   Exchange   Commission   pursuant   to   the
            Sarbanes-Oxley  Act of 2002,  since  August 16,  2003,  are true and
            correct in all material respects.

Non-Merger and Survival

3.2 The  representations  and warranties of BIB contained herein will be true at
and as of Closing in all material  respects as though such  representations  and
warranties  were made as of such time.  Notwithstanding  the  completion  of the
transactions  contemplated  hereby, the waiver of any condition contained herein
(unless such waiver expressly  releases a party from any such  representation or
warranty) or any investigation made by Incandent or Incode; the  representations
and warranties of BIB shall survive the Closing and shall be enforceable against
BIB's wholly-owned subsidiary,  BIB Ltd., the stock of which subsidiary shall be
sold immediately subsequent to the Closing hereof.

Indemnity and Survival

3.3 BIB and BIB Ltd., jointly and severally agree to indemnify and save harmless
Incode and  Incandent  from and against any and all  claims,  demands,  actions,
suits, proceedings, assessments, judgments, damages, costs, losses and expenses,
whether  relating  asserted by any third party or the parties hereto,  including
any payment made in good faith in settlement of any claim  (subject to the right
of BIB or BIB Ltd. to defend any such claim),  resulting from any conduct of BIB
or BIB Ltd.,  whether  relating to the BIB Business or  otherwise,  prior to the
Closing,  or the breach by BIB of any representation or warranty made under this
Agreement,  or from any misrepresentation in or omission from any certificate or
other  instrument  furnished  or to be  furnished  by BIB to Incandent or Incode
hereunder;  this  indemnity  shall survive the Closing and shall be  enforceable
against BIB's wholly-owned subsidiary, BIB Ltd.

<PAGE>

                                    ARTICLE 4
                                COVENANTS OF BIB

Covenants

4.1   BIB covenants and agrees with Incandent and Incode that it will:

      (a)   Conduct of  Business.  Until the  Closing,  conduct the BIB Business
            diligently and in the ordinary course  consistent with the manner in
            which the BIB Business generally has been operated up to the date of
            execution of this Agreement;

      (b)   Preservation of Business. Until the Closing, use its best efforts to
            preserve  the  BIB  Business   (including   without  limitation  its
            corporate  status and good standing,  and good standing with the SEC
            and the NASD) and the BIB Assets and, without  limitation,  preserve
            for Incode, BIB's and its subsidiaries' relationships with any third
            party having business relations with them;

      (c)   Additional  Funding.  Until  the  Closing,  draw  no  more  than  an
            additional  one hundred  thousand  dollars  ($100,000) on its equity
            and/or  convertible  debt  facility with Cornell  Capital  Partners,
            L.P.;

      (d)   Access.  Until  the  Closing,  give  Incandent,  Incode,  and  their
            representatives  full  access  to  all  of  the  properties,  books,
            contracts, commitments and records of BIB, and furnish to Incandent,
            Incode and their  representatives  all such  information as they may
            reasonably request;

      (e)   Procure  Consents.  Until the  Closing,  take all  reasonable  steps
            required  to  obtain,  prior to  Closing,  any and all  third  party
            consents  required to permit the  Acquisition  and to  preserve  and
            maintain  the BIB  Assets  notwithstanding  the change in control of
            Incode arising from the Acquisition;

      (f)   Sale of BIB Ltd.  Immediately  subsequent to the Closing hereof, BIB
            shall sell BIB Ltd.,  pursuant  to the terms and  conditions  of the
            Subsidiary  Stock  Purchase  Agreement  (attached  hereto as Exhibit
            4.1(f)), to be executed upon and performed immediately subsequent to
            the Closing hereof; and

      (g)   Closing Contingency. Close hereunder as soon as practicable upon the
            reduction of the Cornell  Facility from its current balance of about
            Nine Hundred Fifty Thousand Dollars  ($950,000) to a balance of Five
            Hundred  Thousand  Dollars  ($500,000) and the release by Cornell of
            its lien on the PA Building.

Authorization

4.2 BIB  hereby  agrees to  authorize  and direct  any and all  federal,  state,
municipal,  foreign and  international  governments  and regulatory  authorities
having  jurisdiction  respecting BIB and its subsidiaries to release any and all
information in their  possession  respecting BIB and its subsidiaries to Incode.
BIB shall  promptly  execute and  deliver to Incode any and all  consents to the
release of  information  and specific  authorizations  which  Incode  reasonably
requires to gain access to any and all such information.

Survival

4.3 The  covenants  set forth in this Article  shall survive the Closing for the
benefit of Incandent and Incode.

                                    ARTICLE 5
             REPRESENTATIONS AND WARRANTIES OF INCANDENT AND INCODE

Representations and Warranties

5.1 Incandent and Incode hereby  jointly and severally  represent and warrant in
all  material  respects  to BIB,  with the intent  that it will rely  thereon in
entering into this Agreement and in approving and  completing  the  transactions
contemplated hereby, that:

Company Status and Capacity

      (a)   Formation.  Each of Incode,  Incode  Subsidiaries and Incandent is a
            company  duly  formed and validly  subsisting  under the laws of the
            States of Delaware and/or New Jersey;

<PAGE>

      (b)   Carrying on Business.  Incode and Incode  Subsidiaries  carry on the
            Incode  Business  primarily  in New  Jersey  and do not carry on any
            material  business  activity in any other  jurisdiction.  Incode and
            Incode  Subsidiaries  are duly  authorized  to  carry on the  Incode
            Business in New Jersey  (such  certificates  of  authority  and good
            standing are included herewith in Exhibit 5.1(b)). The nature of the
            Incode  Business does not require Incode or Incode  Subsidiaries  to
            register or otherwise be qualified to carry on business in any other
            jurisdiction  except where the failure to be so qualified  would not
            have a Material Adverse Effect;

      (c)   Legal Capacity.  Incode has the legal power,  capacity and authority
            to own  Incode  Assets,  to carry on the  Business  of Incode and to
            enter into and complete this Agreement.  Incode Subsidiaries has the
            legal capacity to carry on its business and  operations.  Incode has
            the legal power,  capacity and  authority to enter into and complete
            this Agreement;

Incode - Capitalization

      (d)   Authorized  Capital.  The authorized  capital of Incode  consists of
            110,000,000  shares of capital stock. The authorized capital of each
            of the Incode Subsidiaries consists of 110,000,000 shares of capital
            stock;

      (e)   Ownership of Incode and Incode  Subsidiaries  Shares. The issued and
            outstanding  share  capital  of Incode  will on  Closing  consist of
            1,000,000  shares of common stock (being the Incode  Shares),  which
            shares on Closing shall be validly  issued and  outstanding as fully
            paid  and  non-assessable  shares.  Incode  will be at  Closing  the
            registered  and beneficial  owners of the Incode Shares.  The Incode
            Shares owned by  Incandent  will on Closing be free and clear of any
            and all  liens,  charges,  pledges,  encumbrances,  restrictions  on
            transfer and adverse claims  whatsoever.  The issued and outstanding
            share  capital  of each of the Incode  Subsidiaries  will on Closing
            consist of 1,000,000 shares of common stock, which shares on Closing
            shall  be  validly   issued  and   outstanding  as  fully  paid  and
            non-assessable  shares. Incode will be at Closing the registered and
            beneficial owners of the issued and outstanding Incode  Subsidiaries
            capital stock. The Incode Subsidiaries capital stock owned by Incode
            will on  Closing  be free and clear of any and all  liens,  charges,
            pledges,  encumbrances,  restrictions on transfer and adverse claims
            whatsoever;

      (f)   No Option,  Warrant or Other Right.  No person,  firm or corporation
            has any agreement,  option,  warrant,  preemptive right or any other
            right capable of becoming an agreement, option, warrant or right for
            the acquisition of Incode Shares held by Incode or for the purchase,
            subscription  or  issuance  of  any of the  unissued  shares  in the
            capital of Incode. No person, firm or corporation has any agreement,
            option,  warrant,  preemptive  right or any other  right  capable of
            becoming an agreement,  option, warrant or right for the acquisition
            of Incode  Subsidiaries  shares held by Incode or for the  purchase,
            subscription  or  issuance  of  any of the  unissued  shares  in the
            capital of Incode Subsidiaries;

      (g)   No Restrictions.  There are no restrictions on the transfer, sale or
            other   disposition  of  Incode  Shares  contained  in  the  charter
            documents of Incode or under any agreement;

Incode - Records and Financial Statements

      (h)   Charter  Documents.  The  charter  documents  of Incode  and  Incode
            Subsidiaries  have not been altered since its formation date, except
            as filed in the record books of Incode;

      (i)   Minute Books. The minute books of Incode and Incode Subsidiaries are
            complete  and  each  of the  minutes  contained  therein  accurately
            reflect  the  actions  that  were  taken at a duly  called  and held
            meeting or by consent  without a meeting.  All  actions by Incode or
            Incode Subsidiaries which required director or shareholder  approval
            are  reflected  on the  corporate  minute books of Incode and Incode
            Subsidiaries. Neither Incode nor Incode Subsidiaries is in violation
            or  breach  of,  or in  default  with  respect  to,  any term of its
            Certificate  of  Incorporation  (or  other  charter   documents)  or
            by-laws.

      (j)   Incode Financial  Statements.  The Incode Financial  Statements will
            present fairly, in all material respects, the assets and liabilities
            (whether accrued,  absolute,  contingent or otherwise) of Incode and
            Incode  Subsidiaries  as of the  date  thereof,  and the  sales  and
            earnings of the Incode Business during the periods covered  thereby,
            in all  material  respects,  and have been  prepared in  substantial
            accordance   with   generally   accepted    accounting    principles
            consistently applied;

<PAGE>

      (k)   Incode  Accounts  Payable  and  Liabilities.  There are no  material
            liabilities,  contingent or  otherwise,  of Incode which will not be
            reflected in the Incode Financial Statements,  except those incurred
            in the  ordinary  course of  business  since the date of the  Incode
            Financial  Statements,  and Incode has not  guaranteed  or agreed to
            guarantee  any debt,  liability or other  obligation  of any person,
            firm or corporation;

      (l)   Incode  Accounts  Receivable.  All the  Incode  Accounts  Receivable
            result from bona fide business  transactions  and services  actually
            rendered without,  to the knowledge and belief of Incode,  any claim
            by the obligor for set-off or counterclaim;

      (m)   No Debt to  Related  Parties.  Except  as  disclosed  in the  Incode
            Financial  Statements,  Incode  is not and on  Closing  will not be,
            indebted  to Incode nor to any  family  member  thereof,  nor to any
            affiliate,  director or officer of Incode or Incode except  accounts
            payable  on  account of bona fide  business  transactions  of Incode
            incurred in normal course of Incode Business,  including  employment
            agreements  with  Incode,  none of which  are  more  than 60 days in
            arrears;

      (n)   No Related  Party Debt to Incode.  Except as set forth in the Incode
            Financial  Statements,  no  Incode  Shareholder  nor  any  director,
            officer  or  affiliate  of  Incode is now  indebted  to or under any
            financial obligation to Incode on any account whatsoever, except for
            advances on account of travel and other expenses;

      (o)   No Dividends.  No dividends or other  distributions on any shares in
            the capital of Incode have been made,  declared or authorized  since
            the date of the Incode Financial Statements;

      (p)   No  Payments.  No payments of any kind have been made or  authorized
            since the date of the Incode Financial Statements to or on behalf of
            Incode or to or on behalf of officers,  directors,  shareholders  or
            employees of Incode or under any management  agreements with Incode,
            except  payments made in the ordinary  course of business and at the
            regular rates of salary or other remuneration payable to them;

      (q)   No  Pension  Plans.  There are no  pension,  profit  sharing,  group
            insurance  or similar  plans or other  deferred  compensation  plans
            affecting  Incode,  except  as set  forth  in the  Incode  Financial
            Statements;

      (r)   No  Adverse  Events.   Since  the  date  of  the  Incode   Financial
            Statements:

            (i)   there  has  not  been  any  material  adverse  change  in  the
                  consolidated  financial  position  or  condition  of Incode or
                  Incode Subsidiaries, their liabilities or the Incode Assets or
                  any damage,  loss or other change in circumstances  materially
                  affecting Incode, Incode Subsidiaries,  the Incode Business or
                  the  Incode  Assets or  Incode's  right to carry on the Incode
                  Business,  other  than  changes  in  the  ordinary  course  of
                  business,

            (ii)  there  has not been  any  damage,  destruction,  loss or other
                  event  (whether or not covered by  insurance)  materially  and
                  adversely  affecting Incode, the Incode Business or the Incode
                  Assets,

            (iii) there has not been any material  increase in the  compensation
                  payable or to become  payable by Incode to Incode or to any of
                  Incode's officers, employees or agents or any bonus or payment
                  made to or with any of them,

            (iv)  the Incode Business has been and continues to be carried on in
                  the ordinary course,

            (v)   Neither  Incode  nor  Incode  Subsidiaries  have not waived or
                  surrendered any right of material value,

            (vi)  Neither Incode nor Incode  Subsidiaries have not discharged or
                  satisfied or paid any lien or  encumbrance  or  obligation  or
                  liability  other  than  current  liabilities  in the  ordinary
                  course of business.

<PAGE>

Incode - Income Tax Matters

      (s)   Tax  Returns.  All tax  returns  and  reports  of  Incode  or Incode
            Subsidiaries  required  by law to be filed  have been  filed and are
            true, complete and correct, and any taxes payable in accordance with
            any return filed by Incode or Incode  Subsidiaries  or in accordance
            with any notice of assessment or  reassessment  issued by any taxing
            authority have been so paid;

      (t)   Current Taxes.  Adequate provisions have been made for taxes payable
            for the current period for which tax returns are not yet required to
            be filed and there are no agreements, waivers, or other arrangements
            providing for an extension of time with respect to the filing of any
            tax  return  by, or  payment  of,  any tax,  governmental  charge or
            deficiency  by Incode or Incode  Subsidiaries.  Neither  Incode  nor
            Incode  Subsidiaries  is aware of any contingent tax  liabilities or
            any grounds which would prompt a reassessment  including  aggressive
            treatment of income and expenses in filing earlier tax returns;

Incode - Applicable Laws and Legal Matters

      (u)   Licenses.  Incode  and Incode  Subsidiaries  hold all  licenses  and
            permits as may be requisite  for carrying on the Incode  Business in
            the  manner  in which  it has  heretofore  been  carried  on,  which
            licenses and permits have been maintained and continue to be in good
            standing  except  where  the  failure  to obtain  or  maintain  such
            licenses or permits would not have a material  adverse effect on the
            Incode Business;

      (v)   Applicable  Laws.  Neither Incode nor Incode  Subsidiaries  has been
            charged with or received  notice of breach of any laws,  ordinances,
            statutes, regulations,  by-laws, orders or decrees to which they are
            subject or which applies to them the violation of which would have a
            material  adverse  effect  on  the  Incode  Business,  and,  to  the
            knowledge of Incode,  neither Incode nor Incode  Subsidiaries is not
            in breach of any laws, ordinances,  statutes, regulations,  by-laws,
            orders or  decrees  the  contravention  of which  would  result in a
            material adverse impact on the Incode Business;

      (w)   Pending or Threatened Litigation. There is no material litigation or
            administrative  or  governmental  proceeding  pending or  threatened
            against or  relating  to  Incode,  Incode  Subsidiaries,  the Incode
            Business,  or any of the  Incode  Assets,  nor do  Incode  have  any
            knowledge  of any  deliberate  act or  omission  of Incode or Incode
            Subsidiaries  that would form any material basis for any such action
            or proceeding;

      (x)   No Bankruptcy.  Neither Incode nor Incode  Subsidiaries has made any
            voluntary  assignment or proposal under  applicable laws relating to
            insolvency and bankruptcy and no bankruptcy  petition has been filed
            or presented against Incode or Incode  Subsidiaries and no order has
            been made or a resolution passed for the winding-up,  dissolution or
            liquidation of Incode or Incode Subsidiaries;

      (y)   Labor Matters.  Neither Incode nor Incode  Subsidiaries is not party
            to any collective agreement relating to the Incode Business with any
            labor union or other  association  of  employees  and no part of the
            Incode  Business  has  been  certified  as a  unit  appropriate  for
            collective  bargaining or, to the knowledge of Incode,  has made any
            attempt in that regard;

      (z)   Finder's Fees. Neither Incode nor Incode  Subsidiaries is a party to
            any  agreement  which  provides  for the payment of  finder's  fees,
            brokerage  fees,  commissions  or other fees or amounts which are or
            may  become  payable  to any  third  party  in  connection  with the
            execution  and  delivery  of this  Agreement  and  the  transactions
            contemplated herein;

Execution and Performance of Agreement

      (aa)  Authorization and Enforceability. The execution and delivery of this
            Agreement,  and  the  completion  of the  transactions  contemplated
            hereby,  have  been duly and  validly  authorized  by all  necessary
            corporate action on the part of Incandent and Incode;

<PAGE>

      (bb)  No  Violation  or Breach.  The  execution  and  performance  of this
            Agreement will not

            (i)   violate the charter documents of Incandent or Incode or result
                  in any  breach  of,  or  default  under,  any loan  agreement,
                  mortgage,  deed of  trust,  or any  other  agreement  to which
                  Incode is a party,

            (ii)  give any person any right to terminate or cancel any agreement
                  including,  without limitation,  Incode Material Contracts, or
                  any right or rights enjoyed by Incode,

            (iii) result in any  alteration  of Incode's  obligations  under any
                  agreement  to  which  Incode  is a  party  including,  without
                  limitation, the Incode Material Contracts,

            (iv)  result in the creation or imposition of any lien,  encumbrance
                  or  restriction  of any nature  whatsoever in favor of a third
                  party upon or against the Incode Assets,

            (v)   result  in the  imposition  of any  tax  liability  to  Incode
                  relating to Incode Assets or the Incode Shares, or

            (vi)  violate  any court order or decree to which  either  Incode is
                  subject;

Incode Assets - Ownership and Condition

      (cc)  Business Assets. The Incode Assets, comprise all of the property and
            assets of the  Incode  Business,  and  neither  Incode nor any other
            person,  firm or  corporation  owns any  assets  used by  Incode  in
            operating  the  Incode  Business,  whether  under  a  lease,  rental
            agreement or other arrangement;

      (dd)  Title.  Incode or Incode  Subsidiaries  is the legal and  beneficial
            owner of the Incode Assets, free and clear of all mortgages,  liens,
            charges, pledges,  security interests,  encumbrances or other claims
            whatsoever;

      (ee)  No Option.  No person,  firm or  corporation  has any  agreement  or
            option or a right  capable of becoming an agreement for the purchase
            of any of the Incode Assets;

      (ff)  Incode Material  Contracts.  The Incode Material Contracts listed in
            Schedule II constitute  all of the material  contracts of Incode and
            the Incode Subsidiaries;

      (gg)  No  Default.  There  has  not  been  any  default  in  any  material
            obligation of Incode or Incode Subsidiaries or any other party to be
            performed under any of Incode Material  Contracts,  each of which is
            in good standing and in full force and effect and unamended  (except
            as  disclosed  in  Schedule  "II"),  and  neither  Incode nor Incode
            Subsidiaries is aware of any default in the obligations of any other
            party to any of the Incode Material Contracts;

      (hh)  Incode Insurance Policies.  Incode and its subsidiaries maintain the
            public liability  insurance and insurance  against loss or damage to
            the Incode  Assets and the Incode  Business as described in Schedule
            "FF" hereto;

      (ii)  Incode Real Property.  Schedule JJ sets forth a complete list of (i)
            all real  property and  interests in real  property  owned in fee by
            Incode and its subsidiaries (individually, a "Incode Owned Property"
            and collectively,  the "Incode Owned Properties"), and (ii) all real
            property  and  interests  in real  property  leased by Incode or its
            subsidiaries  as  lessee  or lessor  (individually,  a "Incode  Real
            Property Lease" and collectively the "Incode Real Property  Leases";
            collectively   with  the  Incode  Owned   Properties,   the  "Incode
            Property"). Incode and its subsidiaries have good and marketable fee
            title to all  Incode  Owned  Property,  free and clear of all Liens,
            except  Liens  set  forth  on  Schedule  JJ.  The  Incode   Property
            constitutes  all  interests  in  real  property  currently  used  or
            currently held for use in connection with the business of Incode and
            its subsidiaries which are necessary for the continued  operation of

<PAGE>

            the  Incode  Business.  Incode  or its  subsidiaries  has  valid and
            enforceable  leasehold  interest  under  each  of  the  Incode  Real
            Property  Leases,  subject  to  applicable  bankruptcy,  insolvency,
            reorganization,  moratorium  and similar laws  affecting  creditors'
            rights and remedies generally and subject, as to enforceability,  to
            general principles of equity  (regardless of whether  enforcement is
            sought in a proceeding at law or in equity),  and neither Incode nor
            any  subsidiary  has received  any written  notice of any default or
            event that with notice or lapse of time, or both, would constitute a
            default by the Incode or any subsidiary under any of the Incode Real
            Property Leases. All of the Incode Property, buildings, fixtures and
            improvements  thereon owned or leased by Incode and its subsidiaries
            are in good operating  condition and repair  (subject to normal wear
            and tear).

      (jj)  Environmental Matters. The operations of Incode and its subsidiaries
            are in compliance with all applicable environmental laws. Incode and
            each of its subsidiaries has obtained all permits required under all
            applicable  environmental  laws  necessary to operate its  business.
            Neither  Incode nor any of its  subsidiaries  is the  subject of any
            outstanding   written  order  or  agreement  with  any  governmental
            authority or person  respecting  environmental  laws or any remedial
            action relating to environmental laws. Neither Incode nor any of its
            subsidiaries  has received any written  communication  alleging that
            Incode  or any  of  its  subsidiaries  may  be in  violation  of any
            environmental  law. There is not located at any of the properties of
            Incode or any of its subsidiaries  any underground  storage tanks or
            hazardous  materials,  expect  a used  in  the  ordinary  course  of
            business.

      (kk)  No Compensation on Termination. There are no agreements, commitments
            or understandings relating to severance pay or separation allowances
            on  termination  of  employment  of any employee of Incode or Incode
            Subsidiaries.  Neither Incode nor Incode Subsidiaries is not obliged
            to pay benefits or share profits with any employee after termination
            of employment except as required by law;

Incode Assets - Incode Equipment

      (ll)  Incode  Equipment.  The Incode  Equipment  has been  maintained in a
            manner  consistent with that of a reasonably  prudent owner and such
            equipment is in good working condition;

Incode Assets - Infringement

      (mm)  Incode   Goodwill.   Incode  do  not  have  any   knowledge  of  any
            infringement  by  Incode  or  Incode  Subsidiaries  of  any  patent,
            trademark, copyright or trade secret;

The Business of Incode

      (nn)  Maintenance  of  Business.  Since the date of the  Incode  Financial
            Statements,  the Incode Business has been carried on in the ordinary
            course and Incode has not entered  into any  material  agreement  or
            commitment except in the ordinary course; and

      (oo)  Subsidiaries.  Except for Incode  Subsidiaries,  Incode does not own
            any subsidiaries and does not otherwise own, directly or indirectly,
            any shares or interest in any other corporation,  partnership, joint
            venture or firm.

No Misrepresentation

            No  Misrepresentation.  No  representation  or  warranty  of  Incode
            contained  in this  Agreement  or in any  schedule  hereto or in any
            certificate or other instrument  furnished by Incode to BIB pursuant
            to the terms  hereof,  contains  any untrue  statement of a material
            fact or  omits  to  state a  material  fact  necessary  to make  the
            statements contained herein or therein not misleading.

Non-Merger and Survival

5.2 The  representations and warranties of Incandent and Incode contained herein
will be true at and as of  Closing  in all  material  respects  as  though  such
representations  and warranties were made as of such time.  Notwithstanding  the
completion of the transactions  contemplated hereby, the waiver of any condition
contained  herein (unless such waiver  expressly  releases a party from any such
representation   or   warranty)   or  any   investigation   made  by  BIB,   the
representations  and  warranties  of  Incandent  and Incode  shall  survive  the
Closing.

<PAGE>

Indemnity

5.3 Inandent  agrees to indemnify and save harmless BIB from and against any and
all  claims,  demands,  actions,  suits,  proceedings,  assessments,  judgments,
damages, costs, losses and expenses, including any payment made in good faith in
settlement  of any claim  (subject to the right of  Incandent to defend any such
claim),  resulting  from  the  breach  by any of them of any  representation  or
warranty of such party made under this  Agreement or from any  misrepresentation
in or omission  from any  certificate  or other  instrument  furnished  or to be
furnished by Incandent or Incode to BIB hereunder.

                                    ARTICLE 6
                        COVENANTS OF INCODE AND INCANDENT

Covenants

6.1   Incode and Incandent covenant and agree with BIB that they will:

      (a)   Conduct of Business.  Until the Closing, conduct the Incode Business
            diligently and in the ordinary course  consistent with the manner in
            which the Incode Business generally has been operated up to the date
            of execution of this Agreement;

      (b)   Preservation of Business.  Until the Closing, use their best efforts
            to preserve the Incode  Business and the Incode Assets and,  without
            limitation,  preserve  for BIB  Incode's  relationships  with  their
            suppliers, customers and others having business relations with them;

      (c)   Access.  Until the Closing,  give BIB and its  representatives  full
            access to all of the properties,  books, contracts,  commitments and
            records of Incode  relating  to  Incode,  Incode  Subsidiaries,  the
            Incode  Business and the Incode  Assets,  and furnish to BIB and its
            representatives all such information as they may reasonably request;

      (d)   Procure  Consents.  Until the  Closing,  take all  reasonable  steps
            required  to  obtain,  prior to  Closing,  any and all  third  party
            consents  required to permit the  Acquisition  and to  preserve  and
            maintain the Incode Assets, including the Incode Material Contracts,
            notwithstanding  the change in control  of Incode  arising  from the
            Acquisition;

      (h)   Closing Contingency. Close hereunder as soon as practicable upon the
            reduction of the Cornell  Facility from its current balance of about
            Nine Hundred Fifty Thousand Dollars  ($950,000) to a balance of Five
            Hundred  Thousand  Dollars  ($500,000)  and the  release  of lien by
            Cornell on the PA Building;

      (e)   Reporting and Internal Controls.  From and after the Closing, Incode
            shall  forthwith  take all required  actions to  implement  internal
            controls  on the  business  of Incode to ensure  that Incode and BIB
            comply with Section  13(b)(2) of the  Securities and Exchange Act of
            1934;

      (f)   Delivery  of  Incode  Financial  Statements.  Within  64 days of the
            Closing Date, Incode shall deliver the Incode Financial  Statements,
            including a signed audit report thereon, to BIB; and

      (g)   1934 Act  Reports.  From and after the Closing  Date,  take all such
            steps  as are  necessary  to  discharge  all  reporting  obligations
            imposed upon them by the Securities Exchange Act of 1934.

Authorization

6.2 Incode  hereby  agrees to authorize  and direct any and all federal,  state,
municipal,  foreign and  international  governments  and regulatory  authorities
having  jurisdiction  respecting  Incode to release any and all  information  in
their  possession  respecting  Incode to BIB. Incode shall promptly  execute and
deliver to BIB any and all consents to the release of  information  and specific
authorizations  which BIB reasonably  require to gain access to any and all such
information.

Survival

6.3 The  covenants  set forth in this Article  shall survive the Closing for the
benefit of BIB.

<PAGE>

                                    ARTICLE 7
                              CONDITIONS PRECEDENT

Conditions Precedent in favor of BIB

7.1 BIB's  obligations  to carry out the  transactions  contemplated  hereby are
subject to the fulfillment of each of the following  conditions  precedent on or
before the Closing:

      (a)   all  documents  or copies of  documents  required to be executed and
            delivered to BIB hereunder will have been so executed and delivered;

      (b)   all of the terms,  covenants and  conditions of this Agreement to be
            complied with or performed by Incode or Incandent at or prior to the
            Closing will have been complied with or performed;

      (c)   title to the Incode  Shares held by Incode and to the Incode  Assets
            will be free and clear of all mortgages,  liens,  charges,  pledges,
            security  interests,  encumbrances or other claims whatsoever,  save
            and except as disclosed herein,  and the Incode Shares shall be duly
            transferred to BIB;

      (d)   BIB  shall  have  completed  a  due  diligence  of  Incode  and  the
            Subsidiaries to the sole  satisfaction of BIB.  Notwithstanding  the
            foregoing, such due diligence review shall be completed by September
            15, 2004, or this provision shall be of no further force or effect;

      (e)   BIB shall have  received  any  consent  required  from  Cornell  and
            Cornell shall have released the lien on the PA Building;

      (f)   subject to Article 8 hereof, there will not have occurred

            (i)   any  material  adverse  change in the  financial  position  or
                  condition of Incode,  its  liabilities or the Incode Assets or
                  any damage,  loss or other change in circumstances  materially
                  and adversely  affecting  Incode,  the Incode  Business or the
                  Incode  Assets  or  Incode's  right  to  carry  on the  Incode
                  Business,  other  than  changes  in  the  ordinary  course  of
                  business, none of which has been materially adverse, or

            (ii)  any  damage,  destruction,  loss  or  other  event,  including
                  changes to any laws or  statutes  applicable  to Incode or the
                  Incode   Business   (whether  or  not  covered  by  insurance)
                  materially and adversely affecting Incode, the Incode Business
                  or the Incode Assets; and

      (g)   the transactions contemplated hereby shall have been approved by all
            other regulatory  authorities  having  jurisdiction over the subject
            matter hereof, if any.

Waiver by BIB

7.2 The conditions  precedent set out in the preceding  section are inserted for
the exclusive benefit of BIB and any such condition may be waived in whole or in
part by BIB at or prior to the Closing by delivering to Incode a written  waiver
to that effect signed by BIB. In the event that the conditions precedent set out
in the preceding  section are not satisfied on or before the Closing,  BIB shall
be released from all obligations under this Agreement.

Conditions Precedent in Favor of Incode and Incandent

7.3 The  obligations  of Incode  and  Incandent  to carry  out the  transactions
contemplated  hereby are  subject to the  fulfillment  of each of the  following
conditions precedent on or before the Closing:

(a)   all documents or copies of documents required to be executed and delivered
      to Incode hereunder will have been so executed and delivered;

(b)   all of the  terms,  covenants  and  conditions  of  this  Agreement  to be
      complied  with or  performed  by BIB at or prior to the Closing  will have
      been complied with or performed;

(c)   BIB will have delivered the  Acquisition  Shares to be issued  pursuant to
      the terms of the  Acquisition to Incode at the Closing and the Acquisition
      Shares will be registered on the books of BIB in the name of the holder of
      Incode Shares at the time of Closing;

(d)   title to the  Acquisition  Shares will be free and clear of all mortgages,
      liens, charges, pledges, security interests,  encumbrances or other claims
      whatsoever;

(e)   Incode and Incandent shall have completed a due diligence review of BIB to
      the sole satisfaction of Incode and Incandent;

<PAGE>

(f)   subject to Article 8 hereof, there will not have occurred

            (i)   any  material  adverse  change in the  financial  position  or
                  condition of BIB, its  subsidiaries,  their liabilities or the
                  BIB   Assets  or  any   damage,   loss  or  other   change  in
                  circumstances  materially and adversely affecting BIB, the BIB
                  Business  or the BIB Assets or BIB's right to carry on the BIB
                  Business,  other  than  changes  in  the  ordinary  course  of
                  business, none of which has been materially adverse, or

            (ii)  any  damage,  destruction,  loss  or  other  event,  including
                  changes to any laws or statutes  applicable  to BIB or the BIB
                  Business (whether or not covered by insurance)  materially and
                  adversely affecting BIB, its subsidiaries, the BIB Business or
                  the BIB Assets; and

(g)   the transactions contemplated hereby shall have been approved by all other
      regulatory authorities having jurisdiction over the subject matter hereof,
      if any.

Waiver by Incode and Incandent

7.4 The conditions  precedent set out in the preceding  section are inserted for
the  exclusive  benefit of Incode and  Incandent  and any such  condition may be
waived in whole or in part by Incode or  Incandent at or prior to the Closing by
delivering  to BIB a  written  waiver  to  that  effect  signed  by  Incode  and
Incandent.  In the event that the conditions  precedent set out in the preceding
section are not satisfied on or before the Closing,  Incode and Incandent  shall
be released from all obligations under this Agreement.

Nature of Conditions Precedent

7.5 The  conditions  precedent  set  forth in this  Article  are  conditions  of
completion  of the  transactions  contemplated  by  this  Agreement  and are not
conditions  precedent  to the  existence  of a  binding  agreement.  Each  party
acknowledges   receipt  of  the  sum  of  $1.00  and  other  good  and  valuable
consideration  as  separate  and  distinct  consideration  for  agreeing  to the
conditions of precedent in favor of the other party or parties set forth in this
Article.

Termination

7.6  Notwithstanding  any provision herein to the contrary,  if the Closing does
not occur on or before  October 31, 2004,  this  Agreement will be at an end and
will have no  further  force or  effect,  unless  otherwise  agreed  upon by the
parties in writing.

Confidentiality

7.7  Notwithstanding  any provision  herein to the contrary,  the parties hereto
agree that the existence and terms of this Agreement are  confidential  and that
if this  Agreement is terminated  pursuant to the preceding  section the parties
agree to return to one another any and all  financial,  technical  and  business
documents  delivered  to the  other  party or  parties  in  connection  with the
negotiation  and  execution of this  Agreement  and shall keep the terms of this
Agreement and all information and documents received from Incode and BIB and the
contents  thereof  confidential  and not  utilize  nor reveal or  release  same,
provided,  however,  that BIB will be required to issue a news release regarding
the execution and  consummation  of this  Agreement and file a Current Report on
Form 8-K with the  Securities  and Exchange  Commission  respecting the proposed
Acquisition  contemplated  hereby  together  with such  other  documents  as are
required to maintain  the  currency of BIB's  filings  with the  Securities  and
Exchange Commission.

<PAGE>

                                    ARTICLE 8
                                      RISK

Material Change in the Business of Incode

8.1 If any  material  loss or  damage to the  Incode  Business  occurs  prior to
Closing  and  such  loss or  damage,  in BIB's  reasonable  opinion,  cannot  be
substantially repaired or replaced within sixty (60) days, BIB shall, within two
(2) days following any such loss or damage,  by notice in writing to Incode,  at
its option, either:

      (a)   terminate this  Agreement,  in which case no party will be under any
            further obligation to any other party; or

      (b)   elect  to  complete  the  Acquisition  and  the  other  transactions
            contemplated  hereby,  in which case the  proceeds and the rights to
            receive the proceeds of all  insurance  covering such loss or damage
            will, as a condition precedent to BIB's obligations to carry out the
            transactions  contemplated  hereby, be vested in Incode or otherwise
            adequately  secured  to the  satisfaction  of BIB on or  before  the
            Closing Date.

Material Change in the BIB Business

8.2 If any material  loss or damage to the BIB Business  occurs prior to Closing
and such loss or damage, in Incode's reasonable opinion, cannot be substantially
repaired or replaced within sixty (60) days,  Incode shall,  within two (2) days
following  any such loss or damage,  by notice in writing to BIB, at its option,
either:

      (a)   terminate this  Agreement,  in which case no party will be under any
            further obligation to any other party; or

      (b)   elect  to  complete  the  Acquisition  and  the  other  transactions
            contemplated  hereby,  in which case the  proceeds and the rights to
            receive the proceeds of all  insurance  covering such loss or damage
            will, as a condition precedent to Incode's  obligations to carry out
            the transactions  contemplated hereby, be vested in BIB or otherwise
            adequately  secured to the  satisfaction  of Incode on or before the
            Closing Date.

                                    ARTICLE 9
                                     CLOSING

Closing

9.1 The  Acquisition and the other  transactions  contemplated by this Agreement
will be closed at the Place of Closing in accordance with the closing  procedure
set out in this Article.

Documents to be Delivered by Incode

9.2 On or before the Closing,  Incode and Incandent  will deliver or cause to be
delivered to BIB:

      (a)   the original or certified copies of the charter  documents of Incode
            and all corporate records  documents and instruments of Incode,  the
            corporate seal of Incode and all books and accounts of Incode;

      (b)   all  reasonable  consents  or  approvals  required to be obtained by
            Incode for the purposes of completing the Acquisition and preserving
            and  maintaining  the  interests  of Incode under any and all Incode
            Material Contracts and in relation to Incode Assets;

      (c)   certified  copies  of  such  resolutions  of  the  shareholders  and
            directors of Incode as are  required to be passed to  authorize  the
            execution, delivery and implementation of this Agreement;

      (d)   an acknowledgement  from Incode and Incandent of the satisfaction of
            the conditions precedent set forth in section 7.3 hereof;

      (e)   the  certificates  or other  evidence  of  ownership  of the  Incode
            Shares,  together with such other documents or instruments  required
            to effect transfer of ownership of the Incode Shares to BIB; and

<PAGE>

      (f)   such other documents as BIB may reasonably require to give effect to
            the terms and intention of this Agreement.

Documents to be Delivered by BIB

9.3 On or before the  Closing,  BIB shall  deliver or cause to be  delivered  to
Incode and Incandent:

      (a)   share   certificates   representing  the  Acquisition   Shares  duly
            registered  in the names of the  holders of shares of Incode  Common
            Stock;

      (b)   certified  copies of such resolutions of the directors of BIB as are
            required  to be passed to  authorize  the  execution,  delivery  and
            implementation of this Agreement;

      (c)   a certified copy of a resolution of the directors of BIB dated as of
            the Closing  Date  appointing  the nominees of Incode as officers of
            Incode,  appointing the nominees of Incode to the board of directors
            of BIB, and accepting the  resignation of all current  directors and
            officers of BIB;

      (d)   resignation of all current directors and officers of BIB;

      (e)   the  acknowledgement  and  agreement of the  purchasers of BIB Ltd.,
            regarding the enforceability of Sections 3.2 and 3.3;

      (f)   an  acknowledgement  from BIB of the  satisfaction of the conditions
            precedent set forth in section 7.1 hereof;

      (g)   such other documents as Incode and Incandent may reasonably  require
            to give effect to the terms and intention of this Agreement.

                                   ARTICLE 10
                              POST-CLOSING MATTERS

Contemporaneous Matters

         Immediately   subsequent  to  the  Closing  hereof,   BIB,  Incode  and
Incandent,  as the case may be, shall execute,  deliver and fully  discharge its
obligations  under the Subsidiary  Stock Purchase  Agreement by and between Mark
Binder and Gail Binder and BIB (attached hereto as Exhibit 4.1(f)).

Subsequent Matters

         Forthwith after the Closing, BIB, Incode and Incandent, as the case may
be, agree to use all their best efforts to:

      (a)   issue a news release reporting the Closing;

      (b)   file with the  Securities  and Exchange  Commission a report on Form
            14f1 disclosing the change in control of BIB;

      (c)   file  a  Form  8-K  with  the  Securities  and  Exchange  Commission
            disclosing the terms of this Agreement  within 4 days of the Closing
            and,  not more than 60 days  following  the  filing of the Form 8-K,
            file an  amended  Form 8-K  which  includes  the  audited  financial
            statements of Incode as well as pro forma  financial  information of
            Incode  and  BIB  as  required  by  Item  310  of  Regulation  SB as
            promulgated by the Securities and Exchange Commission; and

      (d)   file  reports on Forms 13D and 3 with the  Securities  and  Exchange
            Commission  disclosing the acquisition of the Acquisition  Shares by
            Incode.

                                   ARTICLE 11
                               GENERAL PROVISIONS

Notice

11.1 Any notice required or permitted to be given by any party will be deemed to
be given when in writing and delivered to the address for notice of the intended
recipient by personal delivery,  prepaid single certified or registered mail, or
telecopier.  Any notice  delivered by mail shall be deemed to have been received
on the fourth  business day after and excluding  the date of mailing,  except in
the event of a disruption in regular  postal  service in which event such notice
shall be deemed to be  delivered  on the  actual  date of  receipt.  Any  notice
delivered  personally or by telecopier  shall be deemed to have been received on
the actual date of delivery.

<PAGE>

Addresses for Service

11.2 The  address  for  service  of notice of each of the  parties  hereto is as
follows:

            (a)   BIB:

                           BIB Holdings, Ltd.
                           7409 Oak Grove Avenue
                           Las Vegas, Nevada 89117
                           Attn:  Mark Binder, Chairman
                           Phone:  (702) 243-8809
                           Telecopier: (702) 243-2686

                  With a copy to:

                           Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                           New York, New York 10018
                           Attn:  Thomas A. Rose, Esq.
                           Phone:  (212) 930-9700
                           Telecopier:  (212) 930-9725

            (b)   Incode or Incandent:

                           111 Howard Street, Suite 108
                           Mount Arlington, New Jersey 07856
                           Attn: Jim Grainer
                           Phone: (973) 398-8183
                           Telecopier: (973) 398-8037

                  with a copy to:

                           Richard Lambert, Esq.
                           Dunn & Lambert, L.L.C.
                           80 East State Route 4
                           Paramus, New Jersey 07652
                           Phone: (201) 291-0700
                           Telecopier: (201) 291-0140

Change of Address

11.3 Any party may, by notice to the other parties change its address for notice
to some other address in North America and will so change its address for notice
whenever  the existing  address or notice  ceases to be adequate for delivery by
hand. A post office box may not be used as an address for service.

Further Assurances

11.4 Each of the  parties  will  execute  and  deliver  such  further  and other
documents  and do and perform such further and other acts as any other party may
reasonably  require to carry out and give effect to the terms and  intention  of
this Agreement.

Expenses

11.5 Each of the parties  hereto shall pay its own fees and expenses  (including
the fees of any  attorneys,  accountants,  or others  engaged by such  party) in
connection with this Agreement and the transactions  contemplated hereby whether
or not the transactions contemplated hereby are consummated.

<PAGE>

Entire Agreement

11.6 The  provisions  contained  herein  constitute the entire  agreement  among
Incode,  Incode and BIB  respecting  the subject matter hereof and supersede all
previous  communications,  representations  and  agreements,  whether  verbal or
written,  among  Incandent,  Incode and BIB with  respect to the subject  matter
hereof.

Enurement

11.7 This Agreement will enure to the benefit of and be binding upon the parties
hereto and their respective  heirs,  executors,  administrators,  successors and
permitted assigns.

Assignment

11.8 This Agreement is not assignable  without the prior written  consent of the
parties hereto. Counterparts

11.9 This Agreement may be executed in counterparts, each of which when executed
by any party will be deemed to be an original and all of which counterparts will
together  constitute one and the same Agreement.  Delivery of executed copies of
this Agreement by telecopier  will  constitute  proper  delivery,  provided that
originally  executed   counterparts  are  delivered  to  the  parties  within  a
reasonable time thereafter.

Applicable Law

11.10 This  Agreement  shall be  governed by the laws of the State of New Jersey
and the  United  States  of  America  (regardless  of the  laws  that  might  be
applicable under principles of conflicts of law or international  law) as to all
matters including, but not limited to, matters of validity, construction, effect
and performance.

Consent to Jurisdiction.

11.11 The parties  hereto hereby  submit and consent to the exclusive  venue and
jurisdiction of the Superior Court of the State of New Jersey, County of Bergen,
in respect of the  interpretation  and  enforcement  of the  provisions  of this
Agreement,  and hereby waive and agree not to assert as a defense in any action,
suit or proceeding for the interpretation or enforcement of this Agreement, that
it is not subject  thereto or that such action,  suit or  proceeding  may not be
brought or is not  maintainable in said courts or that this Agreement may not be
enforced  in or by said  courts or that its  property  is exempt or immune  from
execution,  that the suit,  action or proceeding  is brought in an  inconvenient
forum,  or that the venue of the suit,  action or  proceeding  is improper.  The
parties agree that service of process may be made in any manner permitted by the
laws of the State of New Jersey or the federal laws of the United  States in any
such  action,  suit  or  proceeding  against  any  party  with  respect  to this
Agreement,  and BIB and the Incode Shareholder hereby irrevocably  designate and
appoint Thomas A. Rose,  Esq., and Richard  Lambert,  Esq., as their  respective
authorized  agents upon which process may be served in any such action,  suit or
proceeding,  it being  understood that such  appointment  and designation  shall
become effective without any further action on the part of the parties.  Service
of  process  upon such  authorized  agent  shall be  deemed,  in every  respect,
effective  service of process upon a party and shall remain  effective until any
party shall appoint another agent for service or process acceptable to the other
Party.  The parties agree that final  judgment  (with all right of appeal having
expired or been waived) against it in any such action,  suit or proceeding shall
be  conclusive  and that the other party is entitled to enforce such judgment in
any other jurisdiction by suit on the judgment,  a certified copy of which shall
be conclusive evidence of the fact and amount of indebtedness  arising from such
judgment.

<PAGE>

         IN WITNESS  WHEREOF the parties have executed this Agreement  effective
as of the day and year first above written.

                                              BIB HOLDINGS, LTD.

                                              By: /S/ Gail Binder
                                                  -----------------------------
                                                  Gail Binder, CEO

                                              INCANDENT CAPITAL, L.L.C.

                                              By: /S/ K. Kreisler
                                                  -----------------------------
                                                  K. Kreisler, Member

                                               INCODE CORPORATION

                                              By: /S/ K. Kreisler
                                                  -----------------------------
                                                  K. Kreisler, Attorney in Fact

Solely with respect to Section 3.3:

                                              BIB LTD.

                                              By: /S/ Mark Binder
                                                  ------------------------------
                                                  Mark Binder, CEOKEY GOLD CORPORATION

                          REGISTRATION RIGHTS AGREEMENT

         THIS REGISTRATION RIGHTS AGREEMENT (this "Agreement") is made as of the
26th day of August,  by and between Key Gold Corporation,  a Nevada  corporation
(the "Company"), and Canterbury Venture Holdings Limited (the "Holder").

                                    RECITALS

         A.  WHEREAS,  the  Company  previously  Sold and  issued to the  Holder
500,000 shares of the Company's  common stock (the "Initial  Common Stock") and,
as of this date has agreed to issue and sell to the Holder an additional 500,000
shares of its common stock (the  "Subsequent  Common Stock") and to grant to the
Holder a warrant  for the  purchase of 500,000  shares of its common  stock (the
"Warrant Shares") and, in connection therewith, the Holder has requested and the
Company has granted the Holder certain  "registration  rights" in respect of the
Initial Common Stock, the Subsequent Common Stock, and the Warrant Shares; and

         B.  WHEREAS,  in order to induce the Holder to purchase the  Subsequent
Common Stock,  the Company and the Holder hereby agree that this Agreement shall
govern the rights of the Holder to cause the  Company to  register  the  Initial
Common Stock,  the Subsequent  Common Stock,  and the Warrant Shares and certain
other matters as set forth herein.

         NOW, THEREFORE, the parties agree as follows:

                                    AGREEMENT

         1. REGISTRATION RIGHTS. The Company covenants and agrees as follows:

                  1.1      DEFINITIONS.  For purposes of this Section 1:

                           (a) The term "Act" means the  Securities Act of 1933,
as amended, and the rules and regulations promulgated thereunder.

                           (b) The term  "Common  Stock"  shall  mean the Common
Stock of the Company.

                           (c) The term "1934  Act"  shall  mean the  Securities
Exchange  Act of 1934,  as amended,  and the rules and  regulations  promulgated
thereunder.

                           (d)   The   terms   "register,"   "registered,"   and
"registration" refer to a registration

effected by preparing and filing a registration statement or similar document in
compliance  with the Act, and the declaration or ordering of,  effectiveness  of
such registration statement or document.

                           (e) The term  "Registrable  Securities" means (i) the
Initial  Common  Stock,  (ii) the  Subsequent  Common  Stock,  (iii) the Warrant
Shares,  and (iv) any Common Stock of the Company  issued as a dividend or other
distribution  with  respect to, or in exchange  for,  or in  replacement  of the
shares  referenced  in (i),  (ii),  or (iii),  above,  excluding  in all  cases,
however,  any Registrable  Securities that have been sold by a person privately,
pursuant to the provisions of Rule 144, or pursuant to a registration  statement
under  the Act  covering  such  Registrable  Securities  that has been  declared
effective by the SEC.

                                      -1-
<PAGE>

                           (f) The number of shares of  "Registrable  Securities
then  outstanding"  shall be  determined by the number of shares of Common Stock
outstanding that are Registrable Securities.

                           (g) The term  "SEC"  shall  mean the  Securities  and
Exchange Commission and any successor thereto.

                  1.2      INFORMATION  UNDER  1934  ACT.  With a view to making
available to the Holders the benefits of Rule 144 promulgated  under the Act and
any other rule or  regulation of the SEC that may at any time permit the Holders
to sell  securities  of the  Company to the  public  without  registration,  the
Company agrees to:

                           (a) Make and keep public  information  available,  as
those terms are understood and defined in SEC Rule 144;

                           (b) File with the SEC in a timely  manner all reports
and other  documents  required of the Company  under the Act and the 1934 Act or
deliver to the Company's  market-makers all current information  required of the
Company  under  Section  15(c)2-11  of the 1934  Act and to make  all  financial
statements of the Company available to its stockholders; and

                           (c)  Furnish to each  Holder,  so long as such Holder
owns any Registrable Securities,  forthwith upon request (i) a written statement
by the Company that it has complied with the reporting  requirements of SEC Rule
144,  the  Act,  and the 1934  Act,  (ii) a copy of the most  recent  annual  or
quarterly report of the Company and such other reports and documents, if any, so
filed by the  Company,  and (iii) such other  information  as may be  reasonably
requested  in availing  such Holder of any rule or  regulation  of the SEC which
permits the selling of any such securities  without  registration or pursuant to
such form.

                  1.3      PIGGYBACK RIGHTS OF THE HOLDERS.  If (but without any
obligation  to do so) the  Company  proposes  to  register  (including  for this
purpose a registration  effected by the Company for stockholders  other than the
Holder) any of its stock or other  securities  under the Act in connection  with
the  public  offering  of  such  securities   solely  for  cash  (other  than  a
registration  relating  solely to the sale of  securities to  participants  in a
Company  stock  plan or a  registration  on any  form  which  does  not  include
substantially  the same  information  as would be  required  to be included in a
registration  statement  covering the sale of the Registrable  Securities),  the
Company shall,  at such time,  promptly give the Holders  written notice of such
registration.  Upon the written  request of the Holders given within twenty (20)
days after mailing of such notice by the Company in accordance with Section 2.5,
the  Company  shall,  subject  to the  provisions  of Section  1.7,  cause to be
registered under the Act, and included in any underwriting  involved, all of the
Registrable Securities that the Holders have requested to be registered.

                  1.4      OBLIGATIONS OF THE COMPANY.  Whenever  required under
this Section 1 to effect the  registration  of any Registrable  Securities,  the
Company shall, as expeditiously as reasonably possible:

                           (a)  Prepare  and file  with  the SEC a  registration
statement with respect to such  Registrable  Securities and use its best efforts
to cause such  registration  statement to become  effective and,  subject to the
proviso in this Section 1.4(a), keep such registration statement effective for a
period  of up to one  hundred  eighty  (180)  days  or  until  the  distribution
contemplated  in  the  Registration  Statement  has  been  completed;  provided,
however,  that applicable rules under the Act governing the obligation to file a
post-effective  amendment permit,  in lieu of filing a post-effective  amendment
that (i) includes  any  prospectus  required by Section  10(a)(3) of the Act, or
(ii) reflects facts or events  representing a material or fundamental  change in

                                      -2-
<PAGE>

the information set forth in the registration  statement,  the  incorporation by
reference  of  information  required  to be included in (i) and (ii) above to be
contained  in  periodic  reports  filed  pursuant  to Section 13 or 15(d) of the
Exchange Act in the registration statement.

                           (b) Prepare and file with the SEC such amendments and
supplements to such registration statement and the prospectus used in connection
with  such  registration  statement  as may be  necessary  to  comply  with  the
provisions of the Act with respect to the disposition of all securities  covered
by such registration statement.

                           (c) Furnish to the Holder such numbers of copies of a
prospectus,   including  a  preliminary  prospectus,   in  conformity  with  the
requirements of the Act, and such other  documents as it may reasonably  request
from  time to  time in  order  to  facilitate  the  disposition  of  Registrable
Securities owned by it.

                           (d) Use its best  efforts to register and qualify the
securities covered by such registration statement under such other securities or
Blue Sky laws of such  jurisdictions  as shall be  reasonably  requested  by the
Holders; provided that the Company shall not be required in connection therewith
or as a condition thereto to qualify to do business or to file a general consent
to service of process in any such states or jurisdictions, unless the Company is
already  required  to  qualify  to do  business  or  subject  to service in such
jurisdiction and except as may be required by the Act.

                           (e) In the event of any underwritten public offering,
enter into and perform its obligations under an underwriting agreement, in usual
and customary  form,  with the managing  underwriter  of such  offering.  If the
Holder  makes such  request  referenced  in Section  1.3,  above,  to have their
Registrable  Securities  included in such  registration  and  underwriting,  the
Holder  shall  also  enter  into  and  perform  its  obligations  under  such an
underwriting agreement.

                           (f)  Notify  the  Holder  of  Registrable  Securities
covered by such  registration  statement at any time when a prospectus  relating
thereto is required to be delivered  under the Act of the happening of any event
as a result of which the prospectus included in such registration  statement, as
then in effect,  includes  an untrue  statement  of a material  fact or omits to
state a material  fact  required to be stated  therein or  necessary to make the
statements  therein  not  misleading  in the  light  of the  circumstances  then
existing, and, at the request of the Holder, prepare and furnish to the Holder a
reasonable  number of supplements to, or amendment of, such prospectus as may be
necessary so that, as thereafter delivered to the purchasers of such share, such
prospectus  shall not include an untrue  statement of a material fact or omit to
state a material  fact  required to be stated  therein or  necessary to make the
statements  therein not  misleading or incomplete in light of the  circumstances
then existing.

                           (g) Cause all such Registrable  Securities registered
pursuant  hereunder to be listed on each  securities  exchange on which  similar
securities issued by the Company are then listed.

                           (h) Provide a transfer  agent and  registrar  for all
Registrable  Securities registered pursuant hereunder and a CUSIP number for all
such Registrable  Securities,  in each case not later than the effective date of
such registration.

                                      -3-
<PAGE>

                           (i)  Make  available  for  inspection  by the  Holder
participating  in  such  registration,  any  underwriter  participating  in  any
disposition  pursuant  to such  registration,  and any  attorney  or  accountant
retained  by the  Holder  or  underwriter,  all  financial  and  other  records,
pertinent  corporate  documents  and  properties  of the Company,  and cause the
Company's officers and directors to supply all information  reasonably requested
by the Holder,  underwriter,  attorney,  or accountant  in connection  with such
registration  statement;   provided,  however,  that  the  Holder,  underwriter,
attorney,  or  accountant  shall  agree  to hold in  confidence  and  trust  all
information so provided.

                           (j) Make  available  to the Holder  participating  in
such registration, upon the

request of the Holder:

                                    (i) in the  case of an  underwritten  public
offering,  a copy of any  opinion of counsel  for the  Company  provided  to the
underwriters  participating  in such  offering,  dated the date such  shares are
delivered to such  underwriters  for sale in  connection  with the  registration
statement;

                                    (ii) in the case of an  underwritten  public
offering,  a  copy  of  any  "comfort"  letters  provided  to  the  underwriters
participating  in such offering and signed by the Company's  independent  public
accountants who have examined and reported on the Company's financial statements
included in the registration statement, to the extent permitted by the standards
of the AICPA or PCAOB or other relevant authorities; and

                                    (iii) a copy of all documents filed with and
all correspondence from or to the SEC in connection with any such offering other
than non-substantive cover letters and the like.

                           (k) otherwise use its best efforts to comply with all
applicable  rules and regulations of the SEC, and make available to its security
holders, as soon as reasonably  practicable,  an earnings statement covering the
period of at least 12 months,  but not more than 18 months,  beginning  with the
first  month  after the  effective  date of the  registration  statement,  which
earnings statement shall satisfy the provisions of Section 11(a) of the Act.

                  1.5      FURNISH   INFORMATION.   It  shall  be  a   condition
precedent to the  obligations of the Company to take any action pursuant to this
Section 1 with respect to Registrable  Securities of the selling Holder that the
Holder  shall  furnish to the Company such  information  regarding  itself,  the
Registrable  Securities  held by it, and the intended  method of  disposition of
such securities as shall be required to effect the  registration of the Holder's
Registrable Securities.

                  1.6      EXPENSES OF COMPANY  REGISTRATION.  The Company shall
bear and pay all expenses incurred in connection with any registration,  filing,
or  qualification  of Registrable  Securities with respect to the  registrations
pursuant to Section  1.3 for the Holder and  compliance  with the terms  hereof,
including (without limitation) all registration, filing, and qualification fees,
printers and accounting fees relating or apportionable  thereto and the fees and
disbursements  of  counsel  for the  Company in its  capacity  as counsel to the
selling Holder hereunder;  if Company counsel does not make itself available for
this purpose,  the Company will pay the reasonable fees and disbursements of the
selling Holder's counsel, but excluding  underwriting  discounts and commissions
relating to Registrable Securities.

                  1.7      REDUCTIONS OF REGISTRABLE  SECURITIES TO BE INCLUDED.
In  connection  with any  offering  involving an  underwriting  of shares of the
Company's  capital stock, the Company shall not be required under Section 1.3 to

                                      -4-
<PAGE>

include the Holder's securities in such underwriting unless it accepts the terms
of the  underwriting  as agreed upon  between  the Company and the  underwriters
selected by it and then only in such quantity as the  underwriters  determine in
their sole  discretion  will not  jeopardize  the success of the offering by the
Company. If the total amount of securities,  including  Registrable  Securities,
requested by stockholders to be included in such offering  exceeds the amount of
securities  sold other than by the Company  that the  underwriters  determine in
their sole discretion is compatible  with the success of the offering,  then the
Company  shall be required to include in the  offering  only that number of such
securities,  including Registrable Securities,  which the underwriters determine
in their sole  discretion  will not  jeopardize the success of the offering (the
securities so included to be apportioned pro rata among the selling stockholders
according  to the total  amount of  securities  entitled to be included  therein
owned by each selling stockholder or in such other proportions as shall mutually
be  agreed to by such  selling  stockholders).  For  purposes  of the  preceding
parenthetical  concerning  apportionment,  for any selling stockholder that is a
holder of Registrable  Securities and that is a partnership or corporation,  the
partners,  retired partners, and stockholders of such holder, or the estates and
family members of any such partners and retired  partners and any trusts for the
benefit of any of the foregoing  persons shall be deemed to be a single "selling
stockholder,"  and  any  pro-rata   reduction  with  respect  to  such  "selling
stockholder"  shall be based  upon  the  aggregate  amount  of  shares  carrying
registration  rights  owned by all  entities  and  individuals  included in such
"selling stockholder," as defined in this sentence.

                  1.8      DELAY OF REGISTRATION.  The Holder shall not have any
right to obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any  controversy  that might arise with respect to
the interpretation or implementation of this Section 1.

                  1.9      INDEMNIFICATION.   In  the  event   any   Registrable
Securities are included in a registration statement under this Section 1:

                           (a) To the extent  permitted by law, the Company will
indemnify and hold harmless the Holder, each officer and director of the Holder,
any underwriter  (as defined in the Act) of the Holder and each person,  if any,
who controls the Holder or underwriter within the meaning of the Act or the 1934
Act, against any losses,  claims,  damages, or liabilities (joint or several) to
which they may become  subject  under the Act, the 1934 Act or other  federal or
state law, insofar as such losses,  claims,  damages, or liabilities (or actions
in  respect  thereof)  arise  out  of or are  based  upon  any of the  following
statements,  omissions or  violations  (collectively,  a  "Violation"):  (i) any
untrue  statement or alleged  untrue  statement of a material fact  contained in
such  registration  statement,  including  any  preliminary  prospectus or final
prospectus contained therein or any amendments or supplements thereto;  (ii) the
omission or alleged  omission to state  therein a material  fact  required to be
stated therein,  or necessary to make the statements therein not misleading;  or
(iii) any  violation  or alleged  violation  by the Company of the Act, the 1934
Act, any state  securities law or any rule or regulation  promulgated  under the
Act, the 1934 Act or any state  securities  law; and the Company will pay to the
Holder, underwriter or controlling person any legal or other expenses reasonably
incurred by them in connection  with  investigating  or defending any such loss,
claim,  damage,  liability,  or action;  provided,  however,  that the indemnity
agreement  contained in this Section 1.9(a) shall not apply to (1) the Holder if
it is either an officer or director of the Company at the time of the statement,
omission or violation (a "Management Holder") unless such Management Holder have
sold  shares  included  in the  registration  statement,  (2)  amounts  paid  in
settlement  of any such  loss,  claim,  damage,  liability,  or  action  if such
settlement is effected  without the consent of the Company  (which consent shall
not be unreasonably withheld),  or (3) any such loss, claim, damage,  liability,
or action to the extent that it arises out of or is based upon a Violation which
occurs in reliance upon and in  conformity  with written  information  furnished
expressly for use in connection with such  registration by the Holder (including
each officer and director of the Holder), underwriter, or controlling person.

                                      -5-
<PAGE>

                           (b) To the extent  permitted  by law, the Holder will
indemnify  and hold  harmless the Company,  each of its  directors,  each of its
officers who has signed the  registration  statement,  each person,  if any, who
controls  the Company  within the meaning of the Act,  any  underwriter  and any
controlling person of any such underwriter, against any losses, claims, damages,
or  liabilities  (joint or  several) to which any of the  foregoing  persons may
become  subject,  under the Act,  the 1934 Act or other  federal  or state  law,
insofar as such losses,  claims,  damages, or liabilities (or actions in respect
thereto)  arise  out of or are  based  upon any  Violation,  in each case to the
extent (and only to the extent) that such Violation  occurs in reliance upon and
in conformity with written information furnished by the Holder, or by an officer
or  director  of  the  Holder   expressly  for  use  in  connection   with  such
registration;  and the Holder  will pay any legal or other  expenses  reasonably
incurred by any person  intended  to be  indemnified  pursuant  to this  Section
1.9(b) in  connection  with  investigating  or defending  any such loss,  claim,
damage,  liability, or action;  provided,  however, that the indemnity agreement
contained in this Section  1.9(b) shall not apply to amounts paid in  settlement
of any such loss,  claim,  damage,  liability  or action if such  settlement  is
effected  without  the  consent  of  the  Holder,  which  consent  shall  not be
unreasonably withheld;  provided,  further, that in no event shall any indemnity
under this Section 1.9(b) exceed the gross  proceeds from the offering  received
by the Holder, net of underwriters' commissions and discounts.

                           (c) Promptly after obtaining  actual knowledge of any
third-party claim or action as to which it may seek  indemnification  under this
Section 1.9, an indemnified  party will, if a claim in respect  thereof is to be
made  against any  indemnifying  party under this  Section  1.9,  deliver to the
indemnifying  party a written  notice thereof and the  indemnifying  party shall
have the right to participate in, and, to the extent the  indemnifying  party so
desires,  jointly with any other indemnifying party similarly noticed, to assume
the defense thereof with counsel mutually satisfactory to the parties; provided,
however,  that an indemnified party (together with all other indemnified parties
which may be represented  without  conflict by one counsel) shall have the right
to retain one  separate  counsel,  with the fees and  expenses to be paid by the
indemnifying  party, if  representation of such indemnified party by the counsel
retained  by the  indemnifying  party  would be  inappropriate  due to actual or
potential differing interests between such indemnified party and any other party
represented by such counsel in such  proceeding.  The failure to deliver written
notice to the indemnifying party within a reasonable time of the commencement of
any such action shall  relieve such  indemnifying  party of any liability to the
indemnified  party under this  Section  1.9,  if, and to the extent  that,  such
failure is  prejudicial  to such  indemnifying  party's  ability to defend  such
action,  but the omission so to deliver written notice to the indemnifying party
will not relieve it of any liability that it may have to any  indemnified  party
otherwise than under this Section 1.9.

                           (d)  If the  indemnification  provided  for  in  this
Section 1.9 is held by a court of competent jurisdiction to be unavailable to an
indemnified party with respect to any loss, liability, claim, damage, or expense
referred to therein,  then the indemnifying  party, in lieu of indemnifying such
indemnified  party hereunder,  shall contribute to the amount paid or payable by
such indemnified party as a result of such loss,  liability,  claim,  damage, or
expense  (including,  without  limitation,  legal and other expenses incurred by
such  indemnified  party in investigating or defending any such action or claim)
in such  proportion  as is  appropriate  to reflect  the  relative  fault of the
indemnifying  party on the one hand and of the indemnified party on the other in
connection  with  the  statements  or  omissions  that  resulted  in such  loss,
liability,  claim,  damage,  or expense as well as any other relevant  equitable
considerations.  The  relative  fault  of  the  indemnifying  party  and  of the
indemnified  party shall be  determined  by reference  to,  among other  things,
whether  the  untrue or  alleged  untrue  statement  of a  material  fact or the
omission  to state a  material  fact  relates  to  information  supplied  by the

                                      -6-
<PAGE>

indemnifying party or by the indemnified party and the parties' relative intent,
knowledge,  access to  information,  and  opportunity to correct or prevent such
statement or omission.  Notwithstanding  the provisions of this Section 1.9, the
Holders  shall  not be  required  to  contribute  any  amount  or make any other
payments  under this  Agreement  which in the aggregate  exceed the net proceeds
received by the Holder from the offering covered by the applicable  registration
statement.

                           (e) Notwithstanding the foregoing, to the extent that
the provisions on indemnification and contribution contained in the underwriting
agreement  entered into in connection with the underwritten  public offering are
in conflict with the foregoing  provisions,  the provisions in the  underwriting
agreement shall control.

                           (f) The  obligations  of the Company and Holder under
this Section 1.9 shall  survive the  completion  of any offering of  Registrable
Securities in a registration statement under this Section 1, and otherwise.

                  1.10     SUBSEQUENT GRANTS OF REGISTRATION  RIGHTS. If, during
the  term  of  this  Agreement,  the  Company  shall  grant  to any  stockholder
registration rights that, except for the term thereof, provide rights greater or
more  favorable  than  those  provided  herein  including  demand  or  Form  S-3
registration  rights,  the  Holder  shall be  entitled  to  registration  rights
equivalent  to those so  granted,  without  any action on their  part,  and this
Agreement  shall be deemed to have  been  amended  to  include  such  additional
registration rights.

                  1.11     TRANSFER OF REGISTRATION  RIGHTS. The rights to cause
the Company to register Registrable Securities pursuant to this Section 1 may be
transferred  to any person or entity that is a relative or an  affiliate  of the
Holder.

                  1.12     "MARKET  STAND-OFF"  AGREEMENT.   The  Holder  hereby
agrees  that,  during the period of  duration  specified  by the  Company and an
underwriter  of common stock or other  securities of the Company,  following the
effective date of a  registration  statement of the Company filed under the Act,
it shall not,  to the extent  requested  by the  Company  and such  underwriter,
directly or indirectly sell, offer to sell, contract to sell (including, without
limitation,  any short sale), grant any option to purchase or otherwise transfer
or  dispose  of (other  than to  donees  who agree to be  similarly  bound)  any
securities  of the Company  held by it at any time  during  such  period  except
common stock included in such registration; provided, however, that:

                           (a) Such  agreement  shall be applicable  only to the
first two such registration  statements of the Company which covers common stock
(or other  securities) to be sold on its behalf to the public in an underwritten
offering;

                           (b) Such  market  stand-off  time  period  shall  not
exceed 180 days;

                           (c) Such agreement shall not be applicable  three (3)
years after the effective date of the first registration  statement for a public
offering of securities of the Company; and

                           (d) All  officers  and  directors  of the Company and
holders of record of not less than three percent of the  Company's  common stock
enter into similar agreements.

                                      -7-
<PAGE>

         In order to enforce  the  foregoing  covenant,  the  Company may impose
stop-transfer  instructions  with respect to the  Registrable  Securities of the
Holder  (and the  shares or  securities  of every  other  person  subject to the
foregoing restriction) until the end of such period.

         Notwithstanding  the  foregoing,  the  obligations  described  in  this
Section  1.12  shall not apply to a  registration  relating  solely to  employee
benefit plans on Form S-1 or Form S-8 or similar forms which may be  promulgated
in the  future,  or a  registration  relating  solely to a  Commission  Rule 145
transaction on Form S-4 or similar forms which may be promulgated in the future.

                  1.13     TERMINATION OF REGISTRATION RIGHTS.

                           The Holder  shall not be  entitled  to  exercise  any
right  provided  for in this  Section 1 five (5) years  after the  Holders  have
tendered consideration for the relevant Registrable Securities.

         2.       MISCELLANEOUS.

                  2.1  SUCCESSORS  AND  ASSIGNS.  Except as  otherwise  provided
herein, the terms and conditions of this Agreement shall inure to the benefit of
and be  binding  upon the  respective  successors  and  assigns  of the  parties
(including transferees of any shares of Registrable Securities). Nothing in this
Agreement,  express or implied,  is intended to confer upon any party other than
the  parties  hereto or their  respective  successors  and  assigns  any rights,
remedies,  obligations,  or  liabilities  under or by reason of this  Agreement,
except as expressly provided in this Agreement.

                  2.2      GOVERNING  LAW. This  Agreement  shall be governed by
and  construed  under the laws of the State of Nevada as applied  to  agreements
among Nevada residents entered into and to be performed entirely within Nevada.

                  2.3      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.

                  2.4      TITLES AND  SUBTITLES.  The titles and subtitles used
in this Agreement are used for convenience  only and are not to be considered in
construing or interpreting this Agreement.

                  2.5      NOTICES. All notices, requests,  demands, waivers and
other  communications  required or  permitted  to be given under this  Agreement
shall be in writing and shall be deemed to have been duly given if  delivered in
person or mailed,  certified or registered  mail (to and from an address  within
the United States of America) and registered (to or from and address  outside of
the United States of America) with postage prepaid,  or sent by courier service,
telex, telegram, or fax, as follows:

                  (a)    If to the Company: Key Gold
                         Corporation  1942 Broadway,
                         Suite 504 Boulder, Colorado
                         80302 attn: John Anderson
                         President and Chief Executive Officer
                         facsimile number:  303-323-1928

                                    -8-
<PAGE>

                  (b)    If to the Holder:  Canterbury Venture Holdings Limited

                         ------------------------------

                         ------------------------------

                         ------------------------------

or to such  other  person or  address  as any party  shall  specify by notice in
writing  to each of the other  parties.  All such  notices,  requests,  demands,
waivers and communications  shall be deemed to have been received on the date of
delivery if the date of transmission is electronically endorsed automatically on
the media or evidenced by courier service documentation.  If notice is mailed or
transmitted in a manner in which date of delivery cannot be ascertained from the
media used or courier service records,  notice shall be deemed given on the five
business  day after the mailing or other  transmission  or delivery  thereof.  A
notice of a change of address shall be effective only upon receipt.

                  2.6      EXPENSES.  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.

                  2.7       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 the Company and the holders of
the Registrable Securities then outstanding. Any amendment or waiver effected in
accordance  with this  Section  2.7  shall be  binding  upon each  holder of any
Registrable  Securities  then  outstanding,  each  future  holder  of  all  such
Registrable Securities,  and the Company;  provided that, without the consent of
the Company and all  holders of  Registrable  Securities  then  outstanding,  no
amendment to this  Agreement  may be made that (i) modifies this Section 2.7, or
(ii)  would   effect   the   holders  of  the   Registrable   Securities   in  a
disproportionate manner (other than any disproportionate results that are due to
a difference in the relative stock ownership in the Company).

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

                  2.9      AGGREGATION  OF  STOCK.  All  shares  of  Registrable
Securities  held  or  acquired  by  affiliated  entities  or  persons  shall  be
aggregated  together  for the purpose of  determining  the  availability  of any
rights under this Agreement.

                  2.10     ENTIRE AGREEMENT. This Agreement constitutes the full
and entire understanding and agreement between the parties regarding the matters
set forth herein.  Except as otherwise expressly provided herein, the provisions
hereof  shall  inure to the  benefit  of,  and be binding  upon the  successors,
assigns, heirs, executors, and administrators of the parties hereto.

                  2.11     FURTHER  ASSURANCES.  At any  time,  and from time to
time, each party will execute such  additional  instruments and take such action
as may be  reasonably  requested  by any other party to carry out the intent and
purposes of this Agreement.

                  2.12     JURY TRIAL  WAIVER.  THE PARTIES AGREE TO WAIVE THEIR
SEPARATE  RIGHTS TO A TRIAL BY JURY.  THIS  WAIVER  MEANS THAT ANY TRIAL WILL BE
BEFORE A JUDGE.

                                      -9-
<PAGE>

         IN WITNESS WHEREOF,  the parties have executed this Registration Rights
Agreement as of the date first above written.

                              KEY GOLD CORPORATION

                              By:
                                  ----------------------------------------------
                                  John Anderson
                                  President and Chief Executive Officer

                              CANTERBURY VENTURE HOLDINGS LIMITED

                              By:
                                  ----------------------------------------------

                                      -10-

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