Document:

Exhibit 10.3

                                                             USA Delivery No: 01
                                             MOT Control No: MOT 530362-102 LBTG
                                             USA Control No: USA 530362-102 LBTG

                           [LIBERTY COAL ENERGY LOGO]

                           UNIT SUBSCRIPTION AGREEMENT
                     For Purchase of Units of Common Shares
                                       And
                     Warrants to Purchase Common Shares in:

                               Liberty Coal Energy
                      99 18th Street, Suite 3000, Denver CO
                             Denver, Colorado 80202
                                 1-760-448-1146
                                A Nevada Company
                           http://www.libertycoal.com/

<PAGE>
This is an offer to sell  securities of Liberty Coal Energy  ("Company")  to the
Investor(s).  This Unit  Subscription  Agreement is conditional on completed Due
Diligence  meeting the  satisfaction of the Investor(s),  obtaining  appropriate
legal opinions and signing of the completed Transaction Documents.

THE OFFER AND SALE OF THE COMMON SHARES AND WARRANTS ("UNITS")  DESCRIBED HEREIN
ARE NOT BEING ISSUED UNDER A  REGISTRATION  THROUGH THE U.S.  SECURITIES  ACT OF
1933, AS AMENDED, OR THROUGH  REGISTRATION WITH ANY STATE'S SECURITIES ACTS, BUT
ARE  BEING  ISSUED  IN  RELIANCE  UPON  AVAILABLE  EXEMPTIONS  FROM  SUCH  ACTS'
REGISTRATION  REQUIREMENTS.  UNITS PURCHASED HEREUNDER MAY BE SUBJECT TO CERTAIN
RESTRICTIONS ON SALE, TRANSFER, HYPOTHECATION OR OTHERWISE. THESE UNITS HAVE NOT
BEEN APPROVED OR DISAPPROVED  BY THE  SECURITIES AND EXCHANGE  COMMISSION OR ANY
STATE SECURITIES COMMISSION,  AND NO SUCH COMMISSION HAS PASSED UPON OR ENDORSED
THE MERITS OF THESE UNITS OR THE  ACCURACY OR  ADEQUACY OF THE  MEMORANDUM.  ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL  OFFENSE.  THIS MEMORANDUM DOES NOT
CONSTITUTE  AN OFFER TO SELL OR A  SOLICITATION  OF AN OFFER TO  PURCHASE IN ANY
JURISDICTION IN WHICH SUCH AN OFFER OR  SOLICITATION IS NOT AUTHORIZED.  CHANGES
IN INFORMATION  OCCURRING  AFTER THE DATE OF THIS MEMORANDUM ARE NOT NECESSARILY
REFLECTED HEREIN. PURCHASE OF THESE UNITS INVOLVES A HIGH DEGREE OF RISK.

US NOTICE:  Any  dissemination  of these possible  terms to the general  public,
distribution within the borders of the United States of America, distribution to
United States citizens abroad,  or to other funding or investment  sources could
void any exemptions for Private  Placement  status under US Securities  Law. The
Company and Investor(s)  agree that no public  announcements or dissemination of
any  information  to any  source  other  than  the  Company,  the  Advisor,  the
Intermediary or the Investor(s)  without an opinion from legal counsel attesting
that such  announcement  or  dissemination  will not void the private  placement
exemption or violate  Regulation D, Section 4(2) or Section 5 of the  Securities
Acts of the U.S. This offer would be an "All or None" offering.  Should the full
offering not be committed to, this offer would be rescinded and any terms become
null and void.

                                       2
<PAGE>
INTRODUCTION
This Unit Subscription  Agreement (the "AGREEMENT"),  dated as of (SIGNING DATE)
is made and entered into by and among Liberty Coal Energy,  a  corporation  (the
"COMPANY"),  and each of those persons and entities,  severally and not jointly,
whose  name(s) are set forth on the  Signature  Page hereto  (which  persons and
entities are herein referred to as the "INVESTOR(S)").

RECITALS

WHEREAS: the Company has authorized the sale and issuance of an aggregate number
of shares of Common Stock of the company for an amount of equity investment in a
unit placement  consisting of Common Shares and Warrants (to acquire  additional
Common Shares) set at prices to be specified in this agreement;

WHEREAS:  each Investor(s) desires to purchase from the Company, and the Company
desires  to issue and sell to each  Investor(s),  certain  Units  consisting  of
shares of the Common Stock plus a specified  number of Warrants as described in,
and on the terms and conditions of this Agreement;

NOW,  THEREFORE:  in  consideration  of the promises and the mutual  agreements,
covenants,  representations and warranties contained in this Agreement,  and for
other good and valuable consideration,  the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, hereby agree as follows:

1.   DEFINITIONS AND CONSTRUCTION

1.1. DEFINITIONS.  As used in this Agreement, the following terms shall have the
     indicated meanings:

"ACCOUNT MANAGEMENT AGREEMENT" ("AMA") is that agreement to enlist a third party
Intermediary  to administer  the Use of Proceeds  disbursements.  This Agreement
will be add ended to that AMA.

"ADVISOR" means Catwalk Capital, LLC who has been retained by the Investor(s) as
their purchasing representative.

"BOARD" shall mean the Board of Directors of the Company.

"CLOSING"  is the  transfer  of the cash  payment  to the  Company  against  the
delivery of the certificates  representing the Common Shares and the Warrants to
the Investor(s) as specified in Section 2.2 of this Agreement.

"CLOSING  DATE" shall be that date which  Closing has  occurred as  specified in
Section  2.2 of this  Agreement.  Closing  shall be  evidenced  by a letter from
Intermediary  detailing the closing and the  availability of funds (the "CLOSING
NOTIFICATION").

"COMMON  STOCK"  shall mean the  Company's  common  stock,  par value $0.001 per
share.

"COMMON STOCKHOLDERS" shall mean any holder of common shares.

                                       3
<PAGE>
"COMPANY" has the meaning specified in the Preamble to this Agreement.

FINANCIAL  STATEMENT(S):  are those financial reporting documents of the Company
produced according to GAAP and US securities regulations.

GAAP:  shall mean  Generally  Accepted  Accounting  Principles as defined by the
Financial Accounting Standards Board ("FASB").

INVESTOR  STOCK:  shall  mean:  (i.) the  shares  of Common  Stock  issued to an
Investor(s)  hereunder or otherwise owned by such Investor(s),  (ii.) any shares
of Common Stock issued as (or issuable  upon the  conversion  or exercise of any
warrant,  right or  other  security  which is  issued  as) a  dividend  or other
distribution  on or with respect to, or in replacement  of, any shares of Common
Shares referred to in (i.) and (ii.) above and (iii.) the Warrants to buy common
shares which are attached to the Units.

LEGEND, LEGENDED: is that stamp applied or affixed to a securities instrument by
the issuer or the issuers  Transfer Agent which states any and all  restrictions
on the shares.

MATERIAL  ADVERSE  EFFECT:  shall mean,  with respect to any Person,  a material
adverse  effect on the  business,  prospects,  assets,  financial  condition  or
results of operations of such Person and its  subsidiaries,  if any,  taken as a
whole.

TRANSFER AGENT:  is that company  retained by the Company to manage the transfer
of its shares of stock.

PERSON: shall mean an individual,  corporation,  partnership,  limited liability
company or partnership, association, trust, joint venture or other entity.

PURCHASE  PRICE:  is that price paid per Unit  purchased a specified  in Section
2.1.2 of this Agreement.

RESTATED   CERTIFICATE:   shall  mean  the  Company's  Restated  Certificate  of
Incorporation available for inspection upon request.

SEC: shall mean the United States Securities and Exchange Commission.

TRANSACTION  DOCUMENTS:  are the  Memorandum  of Terms  (the  "MOT"),  this Unit
Subscription  Agreement  (the "USA") and the Account  Management  Agreement (the
"AMA").

UNIT:  shall mean those shares of Common Stock which  converts into Common Stock
and Warrants to purchase  additional  shares of the Company's Common Stock which
are combined for sale as per Section 2.1.1.

WARRANTS:  are those  instruments which can be exchanged along with a set dollar
amount for common shares of stock as specified in Section  2.1.1.  Warrants will
be registered  with the  Preferred  Shares so that upon  exercise,  they will be
unrestricted.

                                       4
<PAGE>
1.2 Construction
In construing this Agreement, the following principles shall be followed:
(a) the terms "herein,"  "hereof,"  "hereby," and  "hereunder," or other similar
terms refer to this Agreement as a whole and not only to the particular  Article
or other subdivision in which any such terms may be employed;
(b) a reference  to any Person  shall  include such  Person's  predecessors  and
successors;
(c) all accounting terms not otherwise defined herein have the meanings assigned
to them in accordance with U.S. GAAP;
(d) no consideration  shall be given to the captions of the articles,  sections,
subsections,  or clauses,  which are  inserted for  convenience  in locating the
provisions of this Agreement and not as an aid in its construction;
(e) examples shall not be construed to limit,  expressly or by implication,  the
matter they illustrate;
(f) the word "includes" and its syntactical variants mean "includes,  but is not
limited to" and corresponding syntactical variant expressions;
(g) a defined term has its defined meaning throughout this Agreement, regardless
of whether it appears  before or after the place in this  Agreement  where it is
defined;
(h) the plural shall be deemed to include the singular, and vice versa;
(i) each exhibit,  attachment,  and schedule to this Agreement is a part of this
Agreement,  but if there is any conflict or inconsistency  between the main body
of this Agreement and any exhibit,  attachment,  or schedule,  the provisions of
the main body of this Agreement shall prevail; and
(j) a reference to the Company shall mean Liberty Coal Energy; and
(k)  references to Section or Sections  contained in this Agreement are inserted
for   convenience  of  reference  only  and  will  not  affect  the  meaning  or
interpretation of this Agreement; and
(l) for purposes of clarity,  the term Section used alone to refer to a location
in a document shall,  unless modified by the Title of a specific  document which
is separate from this Agreement,  be taken as identifying a location within this
Agreement.

2.   PURCHASE AND SALE OF UNITS.

2.1  ISSUANCE  AND  SALE OF UNITS  CONSISTING  OF  COMMON  STOCK  AND  WARRANTS;
     PURCHASE PRICE.

2.1.1 STRUCTURE:
Subject to and upon the terms and conditions set forth in this Agreement, at the
Closing the Company will issue and sell  individually  and not  jointly,  to the
Investor(s), and the Investor(s), severally and not jointly, shall purchase from
the Company that number of Units  consisting of (i.) shares of Common Stock (the
"Shares"),  and,  (ii)  (Warrants  to  purchase  additional  Common  Shares (the
"Warrant")  at such prices and in such amounts as are set forth  opposite  their
respective  Warrant  Series name in Figure 1 hereto,  and an expiration  date of
forty eight (48) months  following  registration  or 24 months  following  final
disbursement of capital from this offering whichever is longer.

                                       5
<PAGE>
(Unit Structure (Figure 1))
<TABLE>
<CAPTION>
<S>                       <C>                    <C>                           <C>                     <C>
               OFFERING TOTAL                                                                            UNIT
-----------------------------------------------------------------------                            ---------------
UNITS                           TOTAL UNIT PURCHASE                                                PRICE PER. UNIT
-----                           -------------------                                                ---------------
1000                               $ 9,196,500.00                                                   $ 9,196.50

         TOTAL COMMON SHARES    DILUTION EQUITY %    COMMON AVG. PRICE
         -------------------    -----------------    -----------------
              237,732,600            44.30%               $ 0.04

NUMBER OF INVESTORS       TOTAL WARRANTS       TOTAL WARRANT EXERCISE      AVG. WARRANT PRICE    COMMON SHARES PER UNIT
-------------------       --------------       ----------------------      ------------------    ----------------------
     10                    250,095,421            $ 18,393,000.00               $ 0.11                  237,733

COMMON TO REGISTER(1)       BREAKOUTS              FULL DILUTION %(2)                              WARRANTS PER UNIT(3)
---------------------       ---------              ------------------                              ------------------
   77,263,714                  36                       61.05%                                            250,095
</TABLE>

2.1.2 PAYMENT:
The Investor(s),  severally and not jointly,  shall  individually  purchase that
number  of Units as is set next to their  names on the  Signature  Page and such
cost per Unit as  specified in Figure 1. In  consideration  of the sale of these
Units, and in reliance on the  representations and warranties herein provided by
the Company for the benefit of the  Investor(s),  the Investor(s)  shall deliver
their portion of the agreed to Total Unit Purchase (the "Purchase  Price") as is
set forth in Figure 1 above.  Payment of the  Purchase  Price,  of both the Unit
Subscription Agreement and the Warrant exercise,  shall be made to the Company's
Cash  Account with the  Intermediary  as specified in the AMA which will monitor
the capital disbursement.

2.1.3 ALL OR NONE:
This is an "All or None"  offering.  Should  the  requisite  number  of Units to
fulfill the entire offering not be subscribed to, the offering will not close.

2.2 CLOSING; DELIVERIES.
(a) The closing of the sale and purchase of the Units  hereunder (the "CLOSING")
shall take place at the offices of the  Intermediary,  Elco Securities,  Ltd. in
Abaco,  Bahamas.  The date of the  Closing  is  hereinafter  referred  to as the
"CLOSING  DATE".   Such  Closing  shall  be  evidenced  by  a  letter  from  the
Intermediary  attesting to the Closing and stating the available  capital to the
Company in their account (the "CLOSING NOTIFICATION").

(b) At the Closing, the Company shall deliver, or cause to be delivered, to each
of the  Investor(s),  (i.)  certificates  evidencing  the  Common  Shares  being
purchased by such  Investor(s) as called for in the AMA,  registered in the name
of such  Investor(s),  against  payment to the Company of the Purchase  price by
such Investor(s), (ii.) the Warrants being purchased by such Investor(s) against
payment  to the  Company of the  Purchase  Price by such  Investor(s),  (iii.) a
corporate  resolution  authorizing  the offering,  closing and submission to the
Account  Management  Agreement  and (iv.) an  opinion  letter  stating  that the
offering  is an  obligation  of the  company  and  that  the  offering  has been
completed according to applicable securities regulations.

                                       6
<PAGE>
3.  REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The company hereby represents
and warrants to the Investor(s) that the statements  contained in this Section 3
are true and correct  representations  and  warranties  of the Company which the
Investor(s) may rely on.

3.1 INCORPORATION, GOOD STANDING AND QUALIFICATION. The Company is a corporation
duly organized,  validly  existing and in good standing under, and by virtue of,
the laws of the State of Nevada.  The Company has full  corporate  power and all
lawful  authority  to own,  lease and operate its  properties  and assets and to
carry on its business as presently conducted or as proposed to be conducted. The
Company is duly  qualified  or licensed to do business as a foreign  corporation
and is in  good  standing  in  each  jurisdiction  where  the  character  of its
properties or the nature of its business makes such  qualification  or licensing
necessary,  except where the failure to be so  qualified  or licensed  would not
reasonably be expected to have a Material Adverse Effect.

3.2  CAPITALIZATION.  The Capitalization  Table in Section 3.2.1 and 3.2.2, sets
forth a true and complete model of the Common and Preferred Stock of the Company
authorized and outstanding as of the date hereof.  There are no shares of Common
Stock or Preferred  Stock held in the Company's  treasury which are not included
herein.  The  Capitalization  Table  of the  Company  (immediately  prior to the
Closing) consists of:

Current Authorized                 1,500,000,000
Current Outstanding                   60,566,667
Option and Warrant Conversion            566,667
Converted Preferred                           --
                                   -------------
Fully Diluted                         61,133,334

3.2.1 COMMON SHARES.
As of the date of this  representation,  and inclusive only of those instruments
already  authorized  or issued,  the capital  structure  of Common  Shares is as
follows:
(Common Share Chart)

Current Authorized                 1,500,000,000
Current Outstanding                   60,566,667
Option and Warrant Conversion            566,667
Converted Preferred                           --
                                   -------------
Fully Diluted                         61,133,334

3.2.2 PREFERRED SHARES.
As of the date of this  representation,  and inclusive only of those instruments
already  authorized or issued,  the capital  structure of Preferred Shares is as
follows:
(Preferred Share Chart)
No Preferred Shares Issued

3.2.3 AUTHORIZATION OF PRESENT  CAPITALIZATION.  All of the issued, issuable and
outstanding  shares of Common have been duly  authorized  and validly issued and
issuable and are fully paid and non-assessable with no liability attached to the
ownership  thereof.  All shares of Common Stock,  Preferred  Stock and all other
outstanding  securities of the Company have been issued in  compliance  with all
applicable federal and state securities laws.

                                       7
<PAGE>
3.2.4  OUTSTANDING  ITEMS.  Except as  provided  for  herein:  (i.) there are no
outstanding  subscriptions,   options,  warrants,  calls,  contracts,   demands,
commitments  or other  agreements  or  arrangements  of any  character or nature
whatsoever  under or pursuant to which the Company is or may become obligated to
issue any shares of its  capital  stock,  (ii.) the  Company  has no  obligation
(contingent or otherwise) to purchase, redeem or otherwise acquire any shares of
its capital  stock or any  interest  therein or to pay any  dividend or make any
distribution in respect  thereof,  (iii.) there are no outstanding or authorized
stock appreciation,  phantom stock or similar rights with respect to the Company
and (iv.) the Company has no obligation  (contingent  or otherwise) to issue any
subscription,  option,  warrant,  convertible security or other such right or to
issue or  distribute  to holders of any shares of its capital stock any evidence
of indebtedness or assets of the Company.

3.2.5 CAPITALIZATION TABLE ALTERATION. The company does not plan to increase its
total authorized or issue any additional shares or warrants.

3.3  SUBSIDIARIES.  The Company does not currently  own or control,  directly or
indirectly, any interest in any other Corporation except for Liberty Coal Energy
Kentucky,  LLC located at 2100 Palomar Airport Rd, Suite 214, Carlsbad CA 92011.
Liberty Coal Energy Kentucky, LLC is a wholly owned subsidiary of Liberty Coal.

3.4  AUTHORITY;  DUE  AUTHORIZATION.  The Company has the full right,  power and
authority to execute and deliver this Agreement and the  Transaction  Documents,
to consummate the  transactions  contemplated  hereby and thereby and to perform
its  obligations  hereunder  and  thereunder.  The execution and delivery by the
Company of this Agreement and the Transaction Documents,  the performance by the
Company  of  its   obligations   hereunder   and   thereunder,   including   the
authorization,  issuance and delivery of the Shares, and the consummation by the
Company of the transactions  contemplated  hereby and thereby have been duly and
validly  authorized by all necessary  director and stockholder action in respect
thereof.  No  other  proceedings  on the  part  of the  Company,  its  officers,
directors or stockholders, are necessary to authorize the execution and delivery
of this  Agreement  or the  Transaction  Documents  and the  performance  by the
Company of its obligations  hereunder or thereunder.  This Agreement is and each
of the Transaction  Documents has been, or, when executed will be, duly executed
and  delivered  by the  Company.  This  Agreement  constitutes,  and each of the
Transaction  Documents  when  executed  will  constitute,  a valid  and  binding
obligation  of the  Company,  enforceable  against it in  accordance  with their
respective  terms,  subject to applicable  bankruptcy,  insolvency,  moratorium,
reorganization  and similar laws affecting  creditor's  rights  generally and to
general equitable principles.

3.5 VALID ISSUANCE OF SECURITIES.

(a) The Units,  when issued,  sold and delivered in accordance with the terms of
this Agreement shall be duly and validly issued,  fully paid and  non-assessable
and free of restrictions on transfer,  other than restrictions on transfer under
this Agreement,  the  Stockholders'  Agreement and applicable  state and federal
securities  laws. The underlying  shares will be issued under rule 144 and shall
be  restricted  from sale for a period of six (6) months or until such date as a
registration  statement filed with the US Securities and Exchange  Commission is
filed and accepted.

                                       8
<PAGE>
(Section 3.5 Continued)

(b) The  Shares,  when  issued,  will have been duly and  validly  reserved  for
issuance and, upon  issuance in  accordance  with the terms of the Shares,  this
Agreement and the Restated Certificate,  shall be duly and validly issued, fully
paid and  non-assessable  and  free of  restrictions  on  transfer,  other  than
restrictions on transfer under this Agreement,  the Stockholders'  Agreement and
applicable federal and state securities laws.

3.6 STOCKHOLDER  AGREEMENTS.  Except as provided in this Agreement and the other
Transaction  Documents,  there are no agreements,  written or oral,  between the
Company and any current holder of its securities, or to the Company's knowledge,
among any holders of its  securities,  relating to the  acquisition  (including,
without  limitation,  rights  of  first  refusal,  anti-dilution  or  preemptive
rights),  disposition,  registration  under the Securities Act, or voting of the
Common Stock or Preferred Stock.

3.7 GOVERNMENTAL CONSENTS. All consents,  approvals,  orders,  authorizations or
registrations,  qualifications,  designations,  declarations or filings with any
federal,  state  or local  governmental  authority  on the  part of the  Company
required in connection with the  consummation of the  transactions  contemplated
herein have been obtained and are effective, except for such filings required to
be made after the Closing under  applicable  federal and state  securities laws,
which shall be timely made within the applicable periods therefore.

3.8 COMPLIANCE WITH OTHER INSTRUMENTS.

(a) The Company is not in, nor shall the conduct of its  business as proposed to
be  conducted,  result in, any  violation,  breach or default of any term of its
Certificate of Incorporation,  By-Laws or any judgment,  decree, order, statute,
rule or  regulation  applicable  to or binding  upon the Company its business or
operations or any of its assets or properties.

(b)  The  execution  and  delivery  by the  Company  of this  Agreement  and the
Transaction  Documents,  the  performance  by the  Company  of  its  obligations
hereunder and thereunder and the consummation by the Company of the transactions
contemplated  hereby and thereby  shall not:  (i.)  conflict with or violate any
provision of its Certificate of Incorporation  or By-Laws,  (ii.) conflict with,
result in a breach of, or  constitute  (with or  without  due notice or lapse of
time or both) a default  under,  create  in any  party  the right to  terminate,
modify or cancel,  or require any notice,  consent or waiver under, any contract
to which the party is a contract or (iii.)  constitute an event which results in
the creation of any lien, claim,  encumbrance,  security interest or charge upon
any asset of the Company, the suspension,  revocation, impairment, forfeiture or
non-renewal of any permit, license,  authorization or approval applicable to the
Company, its business or operations or any of its assets or properties.

3.9 FINANCIAL  STATEMENTS;  LIABILITIES.  The Company has made  available to the
Investor(s)  the balance  sheet of the Company and the income  statement  of the
Company for the last 2 years (collectively, the "FINANCIAL STATEMENTS"). Any and
all  public  financials  as  listed  on Edgar  are also at the  disposal  of the
investor.  Such  Financial  Statements  (i.)  were  prepared  from the books and
records of the Company; (ii.) are true, correct and complete; and (iii.) present
fairly,  in all  material  respects,  the  financial  condition  and  results of
operations  of the Company as of the date or dates and for the period or periods
therein  specified.  The books of  account  and other  financial  records of the
Company  are in good order and have been  properly  maintained  in all  material
respects.

                                       9
<PAGE>
3.10  FULL  DISCLOSURE.  The  Company  has  provided  the  Investor(s)  with all
information required by the Securities Regulations, which the Company is subject
to, in connection with the Investor(s) decision to purchase the Shares.

3.11 COMPLIANCE.  The Company represents that they understand that this document
may or may not satisfy their  requirements  of compliance  with state or federal
law,  corporate,  securities or other, and they are representing  that they have
obtained  sufficient legal counsel to instruct them on what additional items, if
any,  that will be required of them to properly  complete  this  Agreement.  The
Company further  represents that initial  drafting of this and the  accompanying
AMA,  in no way  obfuscates  their  responsibilities  to  complete  and file the
appropriate forms and notifications  with the appropriate  reporting entities to
be in compliance with those laws and regulations.

4.  REPRESENTATIONS  AND WARRANTIES OF EACH INVESTOR(S).  The Investor(s) hereby
represents and warrants, severally and not jointly, to the Company that:

4.1 ORGANIZATION, GOOD STANDING AND QUALIFICATION. The Investor(s) has been duly
formed and/or  incorporated  and is validly existing and in good standing under,
and  by  virtue  of,  the  laws  of the  jurisdiction  of  its  organization  or
incorporation,  as the case may be, and has all requisite power and authority to
own its  properties and assets and to carry on its business as now conducted and
as presently proposed to be conducted.

4.2 ACCREDITATION.  The Investor(s) is an "Accredited Investor(s)" as defined in
Rule 501(a) of the United States  Securities Act of 1933(See  Exhibit A) and has
sought  investment  advice  on this  transaction  from a  registered  securities
advisor or legal advisor who has opined that the  investment is suitable for the
Investor, and is acquiring the Shares for their own account.

4.3 INVESTIGATION;  CONSIDERATION OF RISKS. The Investor(s) acknowledges that it
has had an opportunity to examine the business, affairs and current prospects of
the Company  and has had access to  information  about the  Company  that it has
requested as  represented  by the Company in their  uploads to the Due Diligence
Portal provided by the Advisor.  The Investor(s) further acknowledges that it is
able to fend for itself in the  transactions  contemplated by this Agreement and
has the ability to bear the economic  risks of its investment  pursuant  hereto.
The  Investor(s)  has such  knowledge or  experience  in financial  and business
matters that it is capable,  either alone or together with its financial  and/or
legal advisor(s), if any, of evaluating the merits and risks of investing in the
Company. The Investor(s) realizes that this investment involves a high degree of
risk,  including  the  risk  of  loss  of all  investment  in the  Company.  The
Investor(s) is able to bear the economic risk of the  investment,  including the
total loss of such investment.  The Investor(s) is experienced and knowledgeable
in financial and business  matters to the extent that the Investor(s) is capable
of evaluating the merits and risks of the prospective investment in the Shares.

4.4 REGISTRATION;  RESTRICTED  SECURITIES.  The Investor(s) represents that they
are acquiring such  securities for investment  purposes only.  Each  Investor(s)
understands that the Shares are restricted securities within the meaning of Rule
144 under the  Securities  Act and that the Shares could be held for a period of
six months or until such time as those shares are  registered for sale under the
Securities  Act  or an  exemption  from  such  registration  is  available.  The

                                       10
<PAGE>
Investor(s)  further  understands  that among the conditions for use of Rule 144
may be the availability of current public information about the Company and that
such information is not now available.

The Investor(s)  understands that the company shall at its earliest convenience,
but not later than 3 months following the purchase of these securities,  use its
best  efforts  to  perform a  registration  of these  securities  to remove  the
restrictive legends and allow for sale of such securities unless such securities
have  become  by way of  Rule  144,  free  trading.  The  Investor(s)  shall  be
registered as selling shareholders.

Nothing herein will prohibit the Investor(s)  from holding their  securities for
any period of time as they reasonably see fit. The Investor(s) hereby represents
that they will be making investment  decisions  separate from any other investor
and  nothing  in this  Agreement  or the AMA has the  effect of  comingling  the
individual Investor(s)  shareholdings or decision making processes. The location
or proximity of  signatures  on this  document are not a  representation  of the
pooling  of  interests  and have been  obtained  individually  from any  signing
Investor(s).

4.5 RESTRICTIVE LEGENDS. It is understood that the certificates representing the
Shares shall be stamped or otherwise  imprinted with a legend  substantially  in
the following form or other form as required by law:

THE SECURITIES  REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "ACT"),  OR UNDER THE SECURITIES LAWS OF ANY STATE.
THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON  TRANSFERABILITY  AND RESALE AND
MAY NOT BE SOLD OR OTHERWISE  TRANSFERRED,  PLEDGED OR  HYPOTHECATED  UNLESS AND
UNTIL SUCH SECURITIES ARE REGISTERED  UNDER SUCH ACT OR AN OPINION OF COUNSEL IS
OBTAINED TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED.

4.6  AUTHORITY.  The  Investor(s)  has the full right,  power and  authority  to
execute and deliver this Agreement and the Transaction Documents,  to consummate
the transactions  contemplated hereby and thereby and to perform its obligations
hereunder and thereunder.  The execution and delivery by the Investor(s) of this
Agreement and the Transaction  Documents,  the performance by the Investor(s) of
its   obligations   hereunder  and  thereunder  and  the   consummation  of  the
transactions  contemplated  hereby  and  thereby  have  been  duly  and  validly
authorized by all necessary  limited liability company action in respect thereof
on the  part  of the  Investor(s).  No  other  proceedings  on the  part  of the
Investor(s)  are  necessary  to  authorize  the  execution  and delivery of this
Agreement or the Transaction Documents and the performance by the Investor(s) of
their  obligations   hereunder  or  thereunder.   This  Agreement  is,  and  the
Transaction  Documents  have been,  or, when executed will be, duly executed and
delivered  by the  Investor(s).  This  Agreement  constitutes,  and  each of the
Transaction   Documents  when  executed  will  constitute,   valid  and  binding
obligations of each of the Investor(s),  enforceable against each Investor(s) in
accordance with their respective terms,  subject, as to enforcement of remedies,
to applicable  bankruptcy,  insolvency,  moratorium,  reorganization and similar
laws affecting creditor's rights generally and to general equitable principles.

4.7 NO PUBLIC  MARKET.  The  Investor(s)  understands  that limited or no public
market  now  exists  for any of the  Shares,  and that the  Company  has made no
assurances that a public market will ever exist for the Shares.

                                       11
<PAGE>
5.  AFFIRMATIVE   COVENANTS  OF  THE  COMPANY.  The  Company  covenants  to  the
Investor(s) as follows:

5.1  REMOVAL OF  RESTRICTIVE  LEGEND.  The legend set forth in Section 4.5 above
shall be removed by the  Company  and its  transfer  agent from any  certificate
evidencing  the Shares  upon  delivery  to the  Company of an opinion of counsel
"Legal  Opinion" that a  registration  statement  under the Securities Act is at
that time in effect with  respect to the Shares or that the Shares can be freely
transferred  in a public sale without  such a  registration  statement  being in
effect and that such transfer  shall not  jeopardize the exemption or exemptions
from registration  pursuant to which the Company issued the Shares.  The Company
shall  bear  the  costs of  obtaining  any  legal  opinions  or other  documents
necessary  to enact such legend  removal.  Should the  Investor(s)  be forced to
obtain such Legal Opinion independently,  such costs shall be reimbursed to them
by the Company.

5.2 BASIC FINANCIAL INFORMATION AND REPORTING.

(a) The Company will  maintain  true books and records in which full and correct
entries  will be made of all its business  transactions  pursuant to a system of
accounting  established and  administered  in accordance with GAAP  consistently
applied,  and will set aside on its books all such proper  accruals and reserves
as shall be required under GAAP consistently applied.

(b) As soon as practicable,  and within ninety (90) days thereafter, the Company
will furnish the Investor(s) with an audited balance sheet of the Company, as at
the end of such fiscal year, and audited  statements of income and cash flows of
the Company,  for such year, all prepared in accordance  with GAAP  consistently
applied.  The provision of these  statements may be in direct mailings or public
filings with the US Securities and Exchange Commission.

5.3  INSPECTION  RIGHTS.  For so long as any  Investor of this  offering and its
affiliates collectively hold at least 10% of the outstanding shares of Stock (as
adjusted pursuant to Section 8.14 hereof), that Investor shall have the right to
participate as a non-voting observer during all meetings of the Company's Board,
visit  and  inspect  any  of  the  properties  of  the  Company  or  any  of its
subsidiaries,  and to discuss the affairs,  finances and accounts of the Company
or any of its subsidiaries with its officers,  and to review such information as
is reasonably  requested all at such reasonable  times during business hours and
as often as may be reasonably  requested.  The rights granted hereby shall be in
addition to, and not in limitation of, any rights  afforded  stockholders  under
the General  Corporation Law of the State of Delaware.  The Investor  understand
that any such action could put them in an insider position of information and as
such,  if such  rights  are  executed  upon by the  investor  that  they  may be
restricted from sales of securities  until such time as the information they are
in possession of has become  public.  In no way does this right in and of itself
put the  investors in an insider  position and election to execute on this right
is at the sole discretion of the investor. The Investor shall notify the Company
in writing 90 days in advance of such election to participate or to inspect.

5.4  SECURITIES  FILINGS.  The Company shall timely make,  within the applicable
periods  therefore,  all filings  required  to be made after the  Closing  under
applicable  federal and state  securities  laws in connection with the offer and
sale of the Shares.

                                       12
<PAGE>
6.  OBLIGATIONS  OF THE COMPANY AT CLOSING.  At the Closing,  the Company  shall
deliver to the Investor(s) the following:

(a) A copy of the Certificate of Incorporation to demonstrate the Company's Good
Standing as of the Closing Date, certified by the Secretary of the Company; and

(b) By-Laws of the Company,  certified by its Secretary or Assistant  Secretary,
as in effect as of the Closing Date; and

(c) Signed copies of this Unit Subscription Agreement; and

(d) Resolutions of the Board and stockholders, if required by corporate by laws,
of the Company,  authorizing  and approving all matters in connection  with this
Agreement and the transactions  contemplated hereby,  certified by the Secretary
or Assistant Secretary of the Company as of the Closing Date; and

(e) An attorney  opinion letter  stating that the corporate  action is a binding
commitment  on the  corporation  and that the  offering  is in  compliance  with
applicable securities regulations; and

(f) The Warrants; and

(g) Certificates representing the Shares.

7.  OBLIGATIONS OF THE INVESTOR(S) AT CLOSING.  At the Closing,  the Investor(s)
shall deliver to the Company, via the Intermediary, the following:

(a) The aggregate  purchase price required to be paid by each  Investor(s)  with
respect to its purchase of the Shares hereunder.

(b) A Signed Unit Subscription  Agreement from each investor.  (The Intermediary
may gather the required  signatures on one document or separate  documents.  The
collection of  signatures on one document does not indicate  pooling of interest
or integration of investment decision processes among the Investor(s).)

8. MISCELLANEOUS.

8.1 SURVIVAL OF REPRESENTATIONS,  WARRANTIES AND AGREEMENTS. The representations
and warranties in this Agreement, including any rights arising out of any breach
of such  representations and warranties,  shall survive the Closing for a period
of two years. All covenants in this Agreement,  including any rights arising out
of any breach  thereof,  shall survive the Closing for the periods  specified in
Section 5; provided that if no period is specified such covenants  shall survive
indefinitely.

8.2 TRANSFER;  SUCCESSORS AND ASSIGNS.  The  provisions of this Agreement  shall
inure to the benefit of, and shall be binding upon, the successors and permitted
assigns  of  the  Investor(s).  The  Company  may  not  assign  its  rights  and
obligations hereunder without the consent of the Investor(s).  The provisions of
this Section 8.2 shall not limit the Investor(s)' ability to assign their rights
and obligations under any Transaction Document.

                                       13
<PAGE>
8.3 GOVERNING LAW. This Agreement and the rights and  obligations of the parties
hereto shall be governed,  construed and interpreted in accordance with the laws
of the  Commonwealth  of the Bahamas,  without  giving  effect to  principles or
conflicts  of law.  All  parties  submit to the venue of Nassau  Bahamas for any
court actions. No party shall act to contravene such venue or rule of law.

8.4 COUNTERPARTS. This Unit Subscription Agreement may be executed in any number
of counterparts,  each of which shall be an original,  but all of which together
shall constitute one instrument.  Counterpart numbering is included on Page 1 of
this document and all subsequent pages identified by the Reference Number at the
bottom of each page.

8.5 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.

8.6 NOTICES. Except as may be otherwise provided herein, all notices,  requests,
waivers and other  communications  under this Agreement  shall be in writing and
shall be conclusively deemed delivered and effective (i.) when hand delivered to
the other party,  (ii.) five  business  days after being sent by  registered  or
certified mail, return receipt requested,  postage prepaid,  (iii.) one business
day after  being  sent via a  reputable  nationwide  overnight  courier  service
guaranteeing  next  business  day  delivery  or (iv.) in the case of a facsimile
transmission,  upon  transmission  thereof by the sender and the issuance by the
transmitting  machine of a confirmation slip confirming that the number of pages
constituting the notice have been transmitted without error; provided,  however,
that  the  sender  shall  contemporaneously  mail a copy  of the  notice  to the
addressee by the method  provided  for in (i.) or (ii.) above,  but such mailing
shall  in no  way  alter  the  time  at  which  the  notice  sent  by  facsimile
transmission is deemed received,  in each case to the intended  recipient as set
forth below:

If to the Company, at

Liberty Coal Energy
99 18th Street, Suite 3000
Denver, Colorado 80202
Attention: Secretary
Facsimile: 1-530-548-7369

Investor(s)  Notification  addresses are located in Appendix A. The  Investor(s)
may choose to utilize the  Intermediary to receive and distribute  notifications
as a third party  verification  of receipt of such notices.  The  utilization of
this  option does not  indicate or  represent  that the  Investor(s)  are acting
jointly or have pooled interests.

Any party may change the address to which notices,  requests,  consents or other
communications  hereunder are to be delivered by giving the other parties notice
in the manner set forth in this Section.

8.7 COMPANY  EXPENSES.  The Company shall bear its own costs for the preparation
of this Agreement.

                                       14
<PAGE>
8.8 INVESTOR(S)  EXPENSES.  The Investor(s) shall have their expenses reimbursed
monthly up to a maximum of $3,500.00 per month and any  associated  expenses for
Breakup should the transaction not carry forward.  Such expenses shall be billed
through the Advisor.  The Advisor  shall be  reimbursed  $3,500.00 per month for
expenses  in regard  to the  preparation,  monitoring  and  consulting  for this
offering.

8.9  AMENDMENTS  AND WAIVERS.  Any term of this Agreement may only be amended in
writing,   and  such  written  agreement  is  signed  by  the  Company  and  the
Investor(s).

8.10  SEVERABILITY.  If one or more  provisions of this Agreement are held to be
unenforceable  under  applicable  law,  the parties  agree to  renegotiate  such
provision in good faith.  In the event that the parties  cannot reach a mutually
agreeable  and  enforceable  replacement  for  such  provision,  then  (a)  such
provision  shall  be  excluded  from  this  Agreement,  (b) the  balance  of the
Agreement shall be interpreted as if such provision were so excluded and (c) the
balance of the Agreement shall be enforceable in accordance with its terms.  Any
exclusion of a provision  from this  Agreement that has the effect of decreasing
the Investor(s)  protections  afforded  herein,  will not affect the protections
afforded in the AMA.

8.11 DELAYS OR OMISSIONS.  No delay or omission to exercise any right,  power or
remedy accruing to any party under this Agreement, upon any breach or default of
any other  party under this  Agreement,  shall  impair any such right,  power or
remedy of such  non-breaching or non-defaulting  party nor shall it be construed
to be a waiver of any such breach or default, or an acquiescence  therein, or of
or in any similar breach or default thereafter  occurring;  nor shall any waiver
of any  single  breach or  default  be  deemed a waiver  of any other  breach or
default  theretofore or thereafter  occurring.  Any waiver,  permit,  consent or
approval  of any kind or  character  on the part of any  party of any  breach or
default  under  this  Agreement,  or any  waiver on the part of any party of any
provisions  or  conditions  of this  Agreement,  must be in writing and shall be
effective  only to the  extent  specifically  set  forth  in such  writing.  All
remedies,  either under this  Agreement  or by law or otherwise  afforded to any
party, shall be cumulative and not alternative.

8.12 ENTIRE AGREEMENT. This Agreement and the documents referred to herein, such
as, but not limited to the AMA,  including  Exhibits and Appendices,  constitute
the entire  agreement  between the  parties  hereto,  pertaining  to the subject
matter hereof, and any and all other written or oral agreements  relating to the
subject  matter  hereof  existing  between  the  parties  hereto  are  expressly
canceled.

8.13 CONFIDENTIALITY. The Investor(s) agree that they will keep confidential and
will not  disclose,  divulge or use for any purpose  other than to evaluate  and
monitor their investment in the Company any confidential,  proprietary or secret
information  which the  Investor(s)  may obtain  from the  Company  pursuant  to
financial  statements,  reports and other materials  submitted by the Company to
the  Investor(s)  pursuant  to this  Agreement,  or pursuant  to  visitation  or
inspection   rights  granted   hereunder  or  under  any  Transaction   Document
("CONFIDENTIAL INFORMATION" ), unless such Confidential Information is known, or
until such Confidential  Information becomes known, to the public (other than as
a  result  of a  breach  of this  Section  8.13 by the  Investor(s));  provided,
however,  that the Investor(s)  may disclose  Confidential  Information  (i.) to
their attorneys, accountants, consultants, and other professionals to the extent
necessary to obtain their services in connection  with evaluating and monitoring

                                       15
<PAGE>
the Investor(s)'  investment in the Company,  (ii.) in connection with any legal
proceeding  relating to this  Agreement or any of the  Transaction  Documents or
(iii.) as may otherwise be required by law,  provided that the Investor(s)  take
reasonable steps to minimize the extent of any such required disclosure. Subject
to the provisions of this Section 8.13, the Investor(s) shall use, and shall use
their best efforts to ensure that their authorized representatives use, the same
degree  of  care  as the  Investor(s)  use to  protect  their  own  confidential
information to keep confidential any Confidential Information furnished to them,
except that the  Investor(s) may disclose such  Confidential  Information to any
partner,  member,  subsidiary  or  parent  of the  Investor(s)  so  long as such
partner,  member,  subsidiary  or  parent  is  advised  of  the  confidentiality
provisions of this Section 8.13. The Company shall notify  Investor(s)  prior to
delivery of any  information  which would  place the  Investor(s)  in an insider
knowledge  position and await  confirmation  that such  information  delivery is
acceptable to the Investor(s).  Any Confidential information shall be stamped or
labeled as "Confidential".

8.14  ADJUSTMENTS  FOR STOCK SPLITS,  ETC.  Where in this  Agreement  there is a
reference to a specific  number of shares of Investor(s)  Stock,  then, upon the
occurrence of any subdivision,  combination,  stock dividend or stock split, the
specific number of shares so referenced in this Agreement shall automatically be
proportionally adjusted to reflect the effect of such subdivision,  combination,
stock dividend or stock split on the outstanding shares of stock.

8.15 LEGAL FEES. If any Action is necessary to enforce or interpret the terms of
this Agreement or any of the Transaction  Documents,  the prevailing party shall
be entitled to reasonable attorney's fees, costs and necessary  disbursements in
addition to any other relief to which such party may be entitled.

8.16  BANKRUPTCY.   Should  the  Company  be  placed,   either   voluntarily  or
involuntarily,  into a bankruptcy  proceeding  prior to full funds delivery from
the Cash Account to the Companies Working Account,  such proceeding will have no
effect on the delivery of capital and will leave this  Agreement  and the AMA in
full  force and effect  unless a  negotiated  alteration  to such  documents  in
established and signed by the  Investor(s),  Intermediary  and the Company.  The
Courts must  obtain the  Intermediaries  and the  Investor(s)  agreement  to any
modification of the Use of Proceeds, terms or release schedule.

                                       16
<PAGE>
IN WITNESS HEREOF, the Company has executed this Unit Subscription  Agreement as
of the date listed.

THE COMPANY:

Liberty Coal Energy
99 18th Street, Suite 3000, Denver CO
Denver, Colorado 80202

Signature: /s/ Robert Malasek      Date: 08.17.12

By:    Robert Malasek
Title: CFO

IN  WITNESS  HEREOF,  the  Investor(s)  have  executed  this  Unit  Subscription
Agreement as of the date listed.

                                       17
<PAGE>
                                    EXHIBIT A

                US Securities Act of 1933, Regulation D, Rule 501

Rule 501 -- Definitions and Terms Used in Regulation D

As used in Regulation D, the following terms shall have the meaning indicated:

A.  Accredited  investor.  Accredited  investor  shall mean any person who comes
within any of the following  categories,  or who the issuer reasonably  believes
comes  within any of the  following  categories,  at the time of the sale of the
securities to that person:
     1. Any bank as defined in section  3(a)(2) of the Act,  or any  savings and
loan  association or other  institution as defined in section  3(a)(5)(A) of the
Act whether acting in its individual or fiduciary capacity; any broker or dealer
registered  pursuant to section 15 of the  Securities  Exchange Act of 1934; any
insurance  company as defined in section  2(a)(13)  of the Act;  any  investment
company  registered  under  the  Investment  Company  Act of 1940 or a  business
development  company  as  defined in  section  2(a)(48)  of that Act;  any Small
Business  Investment Company licensed by the U.S. Small Business  Administration
under section  301(c) or (d) of the Small  Business  Investment Act of 1958; any
plan established and maintained by a state, its political  subdivisions,  or any
agency or  instrumentality  of a state or its  political  subdivisions,  for the
benefit of its employees, if such plan has total assets in excess of $5,000,000;
any employee benefit plan within the meaning of the Employee  Retirement  Income
Security Act of 1974 if the investment decision is made by a plan fiduciary,  as
defined in section 3(21) of such act,  which is either a bank,  savings and loan
association,  insurance company,  or registered  investment  adviser,  or if the
employee  benefit  plan has  total  assets  in  excess  of  $5,000,000  or, if a
self-directed  plan, with  investment  decisions made solely by persons that are
accredited investors;
     2.  Any  private  business   development  company  as  defined  in  section
202(a)(22) of the Investment Advisers Act of 1940;
     3. Any organization  described in section 501(c)(3) of the Internal Revenue
Code, corporation,  Massachusetts or similar business trust, or partnership, not
formed for the specific purpose of acquiring the securities offered,  with total
assets in excess of $5,000,000;
     4. Any director, executive officer, or general partner of the issuer of the
securities being offered or sold, or any director, executive officer, or general
partner of a general partner of that issuer;
     5. Any natural person who has individual net worth, or joint net worth with
the  person's  spouse,  that  exceeds $1  million  at the time of the  purchase,
excluding the value of their primary residence;
     6. Any natural person who had an individual income in excess of $200,000 in
each of the two most recent years or joint income with that  person's  spouse in
excess of $300,000 in each of those years and has a  reasonable  expectation  of
reaching the same income level in the current year;
     7. Any trust, with total assets in excess of $5,000,000, not formed for the
specific purpose of acquiring the securities offered, whose purchase is directed
by a sophisticated person as described in Rule 506(b)(2)(ii) and
     8. Any entity in which all of the equity owners are accredited investors

                                       18
<PAGE>
                                    EXHIBIT B

                             (Intentionally Omitted)

                                       19
<PAGE>
                                    EXHIBIT C

                          Warrant Exercise Notification

--------------------------------------------------------------------------------
                            Warrant Exercise Notice
================================================================================

ELCO SECURITIES, LTD.

Account                                            Liberty Coal Energy Corp.
                                                   Robert T. Malasek
                                                   99 18th Street, Suite 3000
                                                   Denver, CO 80802

Ref#                                               530362-102 LBTG

Date:                                              6/25/2012

  The undersigned, Elco Securities, Ltd., under the direction from the Account
  Management Agreement #(AMA#) signed on (Signing Date), hereby servers notice
  that the Investors listed irrevocably elect to purchase the underlying free
trading shares listed herein for the Purchase Price and to that amount of
                              Common Shares Stated.
================================================================================

             Warrant       Warrant Shares        Remaining         Purchase
Investor     Series         to Exercise        Series Shares        Price

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

                                       20
<PAGE>
                                    EXHIBIT D

                               Memorandum of Terms

                                       21Exhibit 10.4

                                                             AMA Delivery No: 01
                                             MOT Control No: MOT 530362-102 LBTG
                                             USA Control No: USA 530362-102 LBTG
                                             AMA Control No: AMA 530362-102 LBTG

                          ACCOUNT MANAGEMENT AGREEMENT
               For Management of the Unit Subscription Agreements
                         USA 530362-102 LBTG No's: 01-11

                              Date: August 17, 2012

                                    Between:

                               Liberty Coal Energy
                      99 18th Street, Suite 3000, Denver CO
                             Denver, Colorado 80202
                                 1-760-448-1146
                                    A Company
                           http://www.libertycoal.com/

                                      And:

       Those Investors Individually Signed in the Investors Blocks of the
                          Unit Subscription Agreements
                               (the "Investor(s)")

                                 And Managed By:
                     Elco Securities, Ltd. ("Intermediary")
                        Loyalist Plaza, Don Mackay Blvd.
                                P.O. Box AB-20377
                                  Marsh Harbor
                                 Abaco, Bahamas

<PAGE>
INTRODUCTION.

This  agreement  will  serve  as  the  Account  Control  Agreement  between  the
Investor(s),  and Liberty Coal Energy (the "Company"). This Agreement to be held
and managed by Elco Securities, Ltd. (the "Intermediary").

RECITALS.

WHEREAS:  Investor(s)  have  separately  and  individually  agreed  to  purchase
securities  from the Company and the Company has agreed to sell said  Securities
to Investor(s) under separate Unit Subscription  Agreement(s) a copy of which is
attached hereto in Exhibit B.

WHEREAS:  The  Investor(s)  wish to monitor  and  enforce the Use of Proceeds to
ensure that it meets the projected Use of Proceeds  agreed to in the  Memorandum
of Terms (the "MOT").

WHEREAS:  The Investor(s)  have taken  substantial risk in assigning an advanced
valuation to the shares of this offering based on the Company's  projections and
assertions  of  success.   To  provide  for  monitoring  the  success  of  these
projections   and   assertions,   a  detailed  Use  Of  Proceeds   with  Capital
Breakout/Workouts  according to those same  projections was developed and agreed
to in the MOT. In order to administer such Breakout/Workout schedule and monitor
the Use of  Proceeds,  a third  party must be engaged to manage and  monitor the
Agreements and distributions.

WHEREAS: Elco Securities, Ltd. (the Intermediary"), a registered Investment Bank
in The  Commonwealth  of the  Bahamas has agreed to act as  Intermediary  in the
Offering and to provide account management services for the Parties.

WHEREAS:  Having  signed  the  Unit  Subscription  Agreement,  the  Company  and
Investor(s)  have each  individually  agreed to consent to this separate Account
Management   Agreement  to  enact  certain  controls  over  the  monitoring  and
management  of  the  investments  and  Use  of  Proceeds,  which  controls,  the
Intermediary shall manage and monitor.

THEREFORE:  This Account Management Agreement (the "AMA") between the parties to
provide Use of Proceeds  (UOP)  direction  and  confirmation,  invested  capital
security,  capital flow  management,  share  distribution  management  and terms
management.

                                       2
<PAGE>
ARTICLE I.
DEFINITIONS & CONSTRUCTION.
1.1 Definitions

"AFFILIATE"  means,  with  respect  to a  Person,  a  Person  that  directly  or
indirectly,  through one or more intermediaries,  controls, is controlled by, or
is under  common  control  with,  the first  Person.  For the  purposes  of this
definition,  "control"  means,  when  used  with  respect  to  any  Person,  the
possession,  directly  or  indirectly,  of the  power to  direct  or  cause  the
direction of the  management  and policies of such Person,  whether  through the
ownership  of  voting  securities,  by  contract,  or  otherwise,  and the terms
"controlling" and "controlled" have correlative meanings.

"ASSETS" means:
(a) All of the Company's ownership interests in the Cash Account; and
(b) All of the Company's interest in the Business, including:  easements, rights
of way and other matters related thereto or necessary for the operation thereof;
and
(c) All of the Company's  interest in any and all of the real property forming a
part of or in any way associated with the Business  together with all buildings,
other constructions and component parts thereof; and
(d) All of the Company's interest in all licenses and similar  instruments owned
by the Company; and
(e) All contracts and agreements of the Company; and
(f) All of the Company's  interest in any and all equipment,  personal property,
fixtures and other improvements; and
(g) All vehicles,  motorized  equipment,  trailers,  tractors,  dozers and other
similar items used in the operation of the Business; and
(h) All permits and licenses; and
(i) The Working Capital of the business, including all Inventory.

"BREAKOUT"  means  that  transfer  of  cash  from  the  Cash  Account  with  the
Intermediary to the Working Account while simultaneously uncovering that portion
of Ordinary Shares  previously  purchased by the Investor(s).  Breakout/Workouts
are delivered once Market and Company milestones are reached as described in the
MOT  Sections  II and  III.  Breakouts  are  automatically  divided  into 30 day
"Workout" periods.

"BUSINESS"  shall  mean  the  commercial  activities  conducted  by the  Company
utilizing any of the Assets.

"BUSINESS  DAY" means a day, not being a Saturday or Sunday,  on which banks are
open for business in the Bahamas.

"BUSINESS  MILESTONES" means those items called for in the MOT Section II.11 and
which  includes any  reporting  and publicly  traded status as called for in the
MOT.

"CASH ACCOUNT"  means the Capital  Account formed in the name of Company at Elco
Securities, Ltd. to manage the funds disbursal.

"CERTIFICATE"  means  those  official  instruments  representing  the  Common or
Ordinary  shares and  Warrants  to  purchase  Common or  Ordinary  shares of the
Company  sold to the  Investor(s).  Such  certificates  will be delivered to the
Intermediary in the names of the individual investors.

                                       3
<PAGE>
"CLOSING" means that time when cash has been delivered by the Investor(s) to the
Company's  account with  Intermediary,  Company's share  certificates  have been
delivered  to  Intermediary's  care and  credited to the  Investor(s)  accounts.
Closing  is to be  determined  as the  closing  date of the  purchase  agreement
between the Investor(s) and the Company.  Immediately  following  Closing,  this
Account  Management  Agreement will be enacted by  Intermediary  and all further
instructions will be provided according to this agreement.

"COMPLIANCE  CHECK" means that study by  Intermediary  to ensure that all proper
documents have been executed,  all accounts are opened  properly and all actions
conform to local law and the agreements contemplated herein.

"CUSTOMER  AGREEMENT" means the agreement  entered into on or around the date of
this Agreement between Company and the Intermediary to open the Cash Account.

"DEAL" MEANS to sell,  dispose of, gift,  transfer,  assign,  mortgage,  hold in
trust,  or otherwise deal with.  Does not include the deposit of such securities
from certificated form to electronic form or vice a versa.

"FEES" are those fees to be paid pursuant to Article VI.

"GAAP" means U.S. generally accepted accounting principles  consistently applied
by a specified Person, as in effect on the date hereof.

"INTERMEDIARY" means the party who will hold all agreements, cash and securities
which is/are part of this agreement. The Intermediary for this transaction is to
be Elco Securities Ltd. of Abaco, Bahamas.

"INVESTOR(S)"  means  the  parties  which  are  purchasing  (Pre-Close)  or have
purchased  (Post Close) the Company's  securities.  Herein to be those  entities
listed in Appendix C.

"PERSON"  means  an  individual,   partnership,   limited   liability   company,
corporation,  joint stock company, trust, estate, joint venture,  association or
unincorporated  organization,  or any other  form of  business  or  professional
entity.

"SECURITIES" are those instruments of certificated and un-certificated Stock and
Warrants evidencing the Investor(s) ownership in Company.

"SECURITIES  ACCOUNT" are those accounts in the names of the  Investor(s)  which
the  uncovered  un-certificated  (Electronic)  Shares  are held  and/or  sold or
disbursed (the "Securities Account").

"MEMORANDUM  OF  TERMS"  means the  Final  Terms  between  the  Company  and the
Investor(s)  and referred to within this  Document as the "MOT".  The MOT number
for tracking is MOT 530362-102 LBTG issued on

"UN-CERTIFICATED"  means Securities of Company owned by the Investor(s) which is
held in street  (electronic)  form by and/or in the name of the  Intermediary at
its/their designated custodian.

"UNDERTAKING"   is  that   Authorization   from  the  Company  with  appropriate
resolutions and legal opinions to prove the corporate  action is taken in proper
compliance and that it is a legal binding  obligation of the Company.  A form of
the Corporate Undertaking is to be located in Exhibit H.

                                       4
<PAGE>
"UNIT  SUBSCRIPTION  AGREEMENT" is that subscription  identifying the portion of
the Unit Offering to be purchased by the Investor(s) and numbered separately for
each investor and referred to in this document as the "USA".  The USA number for
tracking is USA 530362-102 LBTG issued on

1.2 Construction.
In construing this Agreement, the following principles shall be followed:
(a) the terms "herein,"  "hereof,"  "hereby," and  "hereunder," or other similar
terms refer to this Agreement as a whole and not only to the particular  Article
or other subdivision in which any such terms may be employed;
(b) a reference  to any Person  shall  include such  Person's  predecessors  and
successors;
(c) all accounting terms not otherwise defined herein have the meanings assigned
to them in accordance with U.S. GAAP;
(d) no consideration  shall be given to the captions of the articles,  sections,
subsections,  or clauses,  which are  inserted for  convenience  in locating the
provisions of this Agreement and not as an aid in its construction;
(e) examples shall not be construed to limit,  expressly or by implication,  the
matter they illustrate;
(f) the word "includes" and its syntactical variants mean "includes,  but is not
limited to" and corresponding syntactical variant expressions;
(g) a defined term has its defined meaning throughout this Agreement, regardless
of whether it appears  before or after the place in this  Agreement  where it is
defined;
(h) the plural shall be deemed to include the singular, and vice versa;
(i) each exhibit,  attachment,  and schedule to this Agreement is a part of this
Agreement,  but if there is any conflict or inconsistency  between the main body
of this Agreement and any exhibit,  attachment,  or schedule,  the provisions of
the main body of this Agreement shall prevail; and
(j) a reference to the Company shall mean Liberty Coal Energy; and
(k) references to Article headings  contained in this Agreement are inserted for
convenience of reference only and will not affect the meaning or  interpretation
of this Agreement.  All references to Articles contained herein mean Articles of
this Agreement unless otherwise stated; and
(l)  references to Section or Sections  contained in this Agreement are inserted
for   convenience  of  reference  only  and  will  not  affect  the  meaning  or
interpretation  of  this  Agreement.  All  references  to  Section  or  Sections
contained herein mean Sections of either the USA or MOT unless otherwise stated;
and
(m) for purposes of clarity,  the term Article used alone to refer to a location
in a document shall,  unless modified by the Title of a specific  document which
is separate from this Agreement,  be taken as identifying a location within this
Agreement.

                                       5
<PAGE>
ARTICLE II.
INTERMEDIARY INSTRUCTIONS.
2.1.     Account Formation
2.1.1.   Account Opening
2.1.1.1. Company
Intermediary shall open and style a non-interest  bearing account in the name of
the Company suitable for management of monies, (the "Cash Account"), from which,
invested monies will be held and eventually debited from by this Agreement.  The
account will be opened  following  receipt of the Customer  Agreement and proper
account opening documentation and ancillary supporting  documentation  necessary
to meet the  Intermediaries  Know Your Client  (KYC) and  Anti-Money  Laundering
compliance.  All such  documentation  according to Bahamian Banking  regulations
shall be treated as  Confidential  communications  between  the  Company and the
Intermediary.  Such documentation must be accompanied by the initial opening fee
of $1,500.00.
2.1.1.2. Investor(s)
Intermediary  shall  have  opened  and  styled  account(s)  in the  name  of the
Investor(s)   suitable  for  the  management  of  securities  (the   "Securities
Account(s)") in the name of the Investor(s) into which purchased Securities will
be deposited by the Intermediary pursuant to the Unit Subscription Agreement and
this Agreement. All such documentation according to Bahamian Banking regulations
shall be treated as Confidential  communications between the Investor(s) and the
Intermediary.

2.1.2.   Capital Delivery
2.1.2.1. Capital Undertaking(s)
Intermediary will be in receipt of capital "Undertaking(s)" from Investor(s). At
Closing,  the  Intermediary  shall  secure  such  monies  for credit to the Cash
Account.  No  interest  will be applied to monies  managed by the  Intermediary.
Intermediary  shall not deal with such monies from  Investor(s)  in any way save
for those instructions within this Agreement. All such Undertakings according to
Bahamian Banking  regulations  shall be treated as a Confidential  communication
between the Investor(s) and Intermediary.
2.1.2.2. Evidentiary Letter
Intermediary will issue a letter to Investor(s), Advisor and Company in evidence
that such monies are secured and Pre-Closing is awaiting deposit of Certificated
Securities.

2.1.3.   Certificated Security Trust
2.1.3.1. Certificate Delivery
The Company shall deliver to the  Intermediary  prior to Closing  start,  in the
Investor(s)  name(s)  and in the  denominations  called  for in Exhibit A, those
share  certificates  as listed  in  Exhibit  A,  evidencing  the total  purchase
according  to  the  Unit   Subscription   Agreement.   The  Company  must  issue
certificates  as listed in Exhibit A, or the  Intermediary is instructed to send
back  those   certificates  not  according  to  the  certificate   schedule  for
cancellation and reissuance prior to Closing.
2.1.3.2. Evidentiary Letter
Upon Receipt,  the Intermediary shall verify that the certificates  delivered by
the Company match in  denomination  and number as those  certificates  listed in
Exhibit A. Should the certificates not match, the Intermediary will return those
certificates  which  are out of sync  with  Exhibit  A and  will  specify  those
certificates in the Evidentiary Letter.
2.1.3.3. Certificate Reissuance
Should  the  Evidentiary  letter  call for it, the  Company  will  cancel  those
certificates  issued in error and reissue the correct  securities  certificates.

                                       6
<PAGE>
Such corrected  certificates  shall be delivered to the  Intermediary as soon as
possible.
2.1.3.4. Secondary Evidentiary Letter
Upon receipt and  verification of the corrected  certificates,  the Intermediary
shall start the process of Articles  2.1.3.1.through  2.1.3.3.  anew,  until all
certificates   matching  Exhibit  A  have  been  issued  and  delivered  to  the
Intermediary.

2.1.4.   Closing Checklist
2.1.4.1  Closing Establishment
Following issuance of the Undertaking and Certificate  Evidentiary  Letters, the
Intermediary shall check to ensure that the proper documentation is in place and
all actions  necessary to approve the close have been delivered  before ordering
the close of this Agreement.
2.1.4.2. Deficiency
Should the Intermediary  determine that a deficiency exists in the documentation
provided,  the  Intermediary  shall  issue a  request  immediately  to the party
responsible for the documentation.  The Intermediary shall await the delivery of
the required documentation before issuing any evidentiary letters.
2.1.4.3. Company Undertaking
The  Company   shall  deliver  a  letter  to  the   Intermediary   (the  Company
"Undertaking" to be lodged as Exhibit H) stating:
(a) That the Unit Subscription  Agreement and this Account Management  Agreement
are signed and  uploaded to the Online  Portal  provided by the Advisor for this
transaction; and
(b)  Confirming  that,  the  Certificated  Securities  in the  possession of the
Intermediary  as detailed in Exhibit A, have been  properly  and validly  issued
with a Legal Opinion stating as such to be included as Exhibit E, and
(c) Formally requesting that Intermediary close the transaction  contemplated in
the Unit Subscription Agreement, and delivered with
(d) A legal opinion that the signing of the USA and AMA are binding  obligations
of the Company and were entered into in  accordance  with  Corporate  Bylaws and
State and Federal regulations. Such Legal Opinion is to be included as Exhibit I
to this AMA.
2.1.4.4. Pre-Closing Checklist
(a) Investor(s) shall have delivered all Unit Subscription  Agreement signatures
and their cash Undertakings to the Intermediary.
(b) Company shall have delivered all Unit Subscription  Agreement signatures and
their cash Undertakings to the Intermediary.
(c) Investor(s) shall have delivered all Account Management Agreement signatures
to the Intermediary.
(d) Company shall have delivered all Account Management  Agreement signatures to
the Intermediary.
(e)  Investor(s)  shall have delivered all required  Undertakings  in the proper
denomination(s) to the Intermediary.
(f) Company shall have delivered all required Undertakings to the Intermediary.
(g) Company shall have  delivered all  Securities  Certificates  in the required
denominations as detailed in Exhibit A to the Intermediary.
(h) Company shall have delivered all necessary  legal  opinions  required by the
MOT, USA and this Agreement.
2.1.4.5. Evidentiary Letter
Upon  verification  and  completion of its  Compliance  and Closing  Checklists,
Intermediary will issue a letter to Investor(s),  Advisor and Company evidencing
that the  Certificated  Securities  have  been  received  and  start the 72 hour
closing window.

                                       7
<PAGE>
2.1.5.   Closing Window Compliance
During the Closing Window period (72 hours),  the Intermediary  will confirm the
following:
(a) Status of Parties
(b) Signature Authorization
(c) Signature Coverage
(d) Legal Opinion Issuance
(e) Corporate Resolution Issuance
(f) Due Diligence List Completion
(g) Conflicts Check
(h) Closing Milestone Accomplishments from the MOT Section II.11
(i) Certificate Verification
(j) Money Laundering Compliance

2.1.6. Closing
Closing shall take place as follows:
2.1.6.1. Capital and Securities Transfer
Intermediary  shall  credit  monies  from  Investor(s)  to  Cash  Account,   and
Certificated Securities from Company to Investor(s) Accounts.
2.1.6.2. AMA Assumption
Intermediary will immediately operate those accounts under this Agreement.
2.1.6.3. Closing Fees
No Fees will be paid at Closing to any party  including  the  Intermediary.  All
Account,  Annual and  Monthly  fees  shall be paid out of the  Breakout/Workouts
according to the schedule in the MOT Section II.4 and Section III.

2.1.7.   Reversing Transactions
Intermediary shall not from the time of closing forward, entertain requests from
Company or Investor(s)  individually to "Reverse" the  transactions by returning
or exchanging monies for purchased securities. Intermediary shall only entertain
formally submitted Breakup Agreements as per Article 2.7.

2.1.8.   Evidenced Transaction Documents
2.1.8.1. Closing Notice
Intermediary  shall provide a letter to Advisor,  Company and Investor(s) by the
end of  the  same  Business  Day  as  Closing,  evidencing  the  closing  of the
transaction and stating the amount of capital credited to the Company's Account.
2.1.8.2. Agreement Dominance Letter
Intermediary shall state in the letter that this Account Management Agreement is
in full force and effect.

2.1.9.   Post Closing Conversion
2.1.9.1. Certificated Share Status
Post Closing,  Intermediary  will be in  possession  of restricted  Common Share
Certificates for each Investor(s)'s Breakout/Workout Portion.

                                       8
<PAGE>
2.1.9.2. Preferred Conversion
(Intentionally Omitted)
2.1.9.3. Company Conversion
(Intentionally Omitted)
2.1.9.3. Securities Management
Intermediary  shall hold said Common  Shares in its name in its trust account on
behalf of the  Investor(s)  until they are  uncovered due to  satisfaction  of a
Breakout/Workout.  Once uncovered,  the Intermediary is instructed to deliver to
the appropriate Investor(s) their portion of the Common Shares held in trust for
that  Breakout/Workout.  Such delivery will allow the  Investor(s)  to transfer,
sell or pledge such securities as they deem necessary. Nothing in this Agreement
is meant to act as a  control  over the  Investor(s)  right to deal  with  those
securities.  Nothing in this Agreement signifies that the Investor(s) are acting
together in the sales of the shares.  Intermediary  may manage the securities in
any manner it deems necessary to fulfill this Agreement.
2.1.9.4. Registration or Opinion Letter
Intermediary shall await delivery of a Registration  Statement or opinion letter
from the Company's  attorneys  providing  the  Intermediary  and its  Depository
evidence of the free trading status of the shares.
2.1.9.5. Electronic Deposit
Once the  Intermediary  has the Common Shares  deposited  with its Depository as
free trading shares,  the  Breakout/Workout  Period(s)  attached to those shares
will commence.
2.1.9.6. Breakout/Workout Start
Once those  items  called for in  Articles  2.1.9.1  through  2.1.9.5  have been
accomplished,  the  Intermediary  shall  deliver  a letter to the  Company,  the
Advisor and the  Investor(s)  stating  that the  Breakout/Workout  periods  have
started.

2.2 Breakout/Workouts
2.2.1. Breakout/Workout Period
Each Breakout/Workout  shall encompass that period of time necessary to meet the
Market Metric Requirements as established in the MOT Section II.5.
2.2.1.1. Breakout/Workout Period
Each  Breakout/Workout will be divided up into as many Workout Periods as is/are
necessary to fully  deliver the  Breakout/Workout  Cash from the Cash Account to
the Working  Account.  Each Workout will be no longer than 30 calendar days, but
may be shortened  if the Market  Metrics have  fulfilled  that  Breakout/Workout
before the  expiration  of the 30 day period.  The  Intermediary  will track the
Breakout/Workout Periods for each Breakout/Workout (the "Breakout/Workout").

2.2.1.2. Breakout/Workout Start Requirements
In  order  for cash to be  transferred  from the  Cash  Account  to the  Working
Account, the following items must be completed and verified by the Intermediary:
(a) Market Metrics have been met
         (Stated in the MOT Section II.5)
(b) Business Milestones have been met
         (Stated in the MOT Section II.11)
(c) Conversion of Preferred to Common
(d) Deposit of Common Shares as Free Trading
(e)  Verification  that the Company is in Compliance  with the MOT, USA and this
Agreement

                                       9
<PAGE>
2.2.1.2.1 Intermediary Accounting
The  Intermediary  will track the daily  volume  which is above the  Minimum Bid
Price to calculate the Accountable Volume as per the MOT Section II.4-7.
2.2.1.2.2 Uncovered Shares
The Intermediary  shall calculate the Available  Uncovered Shares as per the MOT
Section II.4-7.
2.2.1.2.3 Share Release Percentage
The  Intermediary  shall  calculate the Share Release  Percentage as per the MOT
Section II.4-7.
2.2.1.2.4 Cash Release
The  Intermediary   will  calculate  the  Cash  Release  amount  for  the  given
Breakout/Workout  as per the MOT Section II.4-7.  The  Intermediary  will keep a
running total of all Cash Released in all Breakout/Workout(s).  The Intermediary
will continue to produce  Breakout/Workouts until such time as the full Breakout
Cash Amount as stated in the MOT Section II.4 has been uncovered and released.
2.2.1.3. Rolling Effect
Should a Breakout/Workout  not occur due to deficiencies of requirements  during
the current 30 day period, the Breakout/Workout period will continue on a day by
day  basis  until  such  time  as  the   proceeding  30  day  period  meets  the
Breakout/Workout requirements.
2.2.1.4 Breakout/Workout Continuity
One  day  following  the  completion  of  the  current   Breakout/Workout,   the
Intermediary  will  establish the next  Breakout/Workout  by following  Articles
2.1.9 through 2.2.1.3.

2.2.2. Breakout/Workout Payments
2.2.2.1. Cash Delivery
One week following the end of a Breakout/Workout, the Intermediary shall deliver
via wire  transfer  from the Cash  Account to the  Working  Account  the Workout
Release Cash amount as determined by the Intermediary as per Article  2.2.1.2.4.
During the given 7 day period, the Intermediary will continue to monitor Company
Milestones and Compliance as per the MOT Section II.10-12 and Section IV.8.
2.2.2.2. Delivery Instructions
The Intermediary shall deliver the  Breakout/Workout  Cash Amount to the Working
Account via the Instructions provided in Exhibit B. Should the Intermediary wish
to amend these instructions;  they may be permitted to do so with the permission
of the Advisor and the Company.  Such  Amendment  will replace the  instructions
provided in Exhibit B.

2.2.2.3. Confirmation
The Intermediary cannot confirm or verify that a wire is received in the Working
Account.  The Intermediary can only confirm that the wire has pulled monies from
the Cash Account. The Company must verify the receipt of the wire and notify the
Intermediary  if the wire was not  received  within 72 hours of  delivery by the
Intermediary.  In such  instances,  the  Intermediary  shall request the wire be
investigated and redelivered by their correspondent bank. In instances of faulty
instructions,  the Intermediary will make every effort to retrieve and redeliver
the wire to the  correct  account.  Should  it be  discovered  that the wire was
delivered according to the instructions  provided in Exhibit B or as provided in
Article 2.2.2.2.,  and that such instructions were faulty,  and the Intermediary
is not able to retrieve  the wire,  the Company and  Investor(s)  shall hold the
Intermediary  harmless  for any loss.  The Company is therefore  responsible  to
deliver to the Intermediary correct wire instructions to the Working Account.

2.2.3.   Market Metric & Milestone Sufficiency and Deficiency
2.2.3.1. Sufficiency Verification
Should Intermediary determine that the Market Metric Requirements set out in the
MOT Section II.5 and Business  Milestones  set out in the MOT Section II.11 have

                                       10
<PAGE>
met their  respective  criteria,  there exists a  "sufficiency"  to deliver said
Breakout/Workout  (which means that the relevant  criteria has been  satisfied).
Intermediary  shall  then  deliver  the  cash  from the  Cash  Account  for that
Breakout/Workout to the Working Account according to the instructions in Exhibit
B. Any cash  transfers  are subject to the deduction of any fees and expenses as
are due and owing with or without instructions from the Company pursuant to this
Agreement, the MOT and the Unit Subscription Agreement.
2.2.3.2. Notification of Market Metric Deficiency
Should the Market  Metric  Requirements  set out in the MOT Section II.5 be at a
level where they are not meeting their  minimum  levels for a period of 15 days,
the Intermediary  shall provide  notification to the Advisor of such deficiency.
Intermediary shall continue to monitor the Market Requirements in a daily 30 day
rolling period until such time as the Market Requirements have been met.
2.2.3.3 Notification of Business Milestone Deficiency
Should the Business Milestones listed in the MOT in Section II.11 be unfulfilled
30 days  following  the initial  Deficiency  Notification  described  in Article
2.2.3.2.,  the Intermediary  shall issue a "Notice of Deficiency" to Company and
Investor(s) describing the deficiency. Intermediary will then await a correction
to the deficiency by Company or an Alteration  Amendment to the instructions for
that period signed by the Investor(s) and Company.
2.2.3.3. Deficiency Effect
Upon  receipt of said  "Deficiency  Letter",  Company and  Investor(s)  may make
alternate agreements. Should alternate agreements be made, these agreements need
to be evidenced in writing signed by both Company and Investor(s).

2.2.4. Breakout/Workout Instructions
2.2.4.1. Breakout/Workout Schedule
Intermediary shall follow the Breakout/Workout schedule, as set forth in the MOT
Section  II, to  determine  when  Breakout/Workouts  shall be  delivered  unless
amended  instructions  signed by both Company and  Investor(s)  have been lodged
with Intermediary for that Breakout/Workout.
2.2.4.2.  Fee Transfers
Any  transfers  of Fees shall be made from the Cash  Account at the same time as
the Breakout/Workout payment to Company is executed by Intermediary.

2.2.4.3.  Company Cash Transfer Rights
Company shall have the rights to transfer the cash  available  for transfer,  as
per Article  2.2.1.2.4.,  only to the Working Account or to any account which is
rightfully  owned by the Company,  or any member  (subsidiary)  of its corporate
Group (as requested by the Company in writing from time to time provided details
of the same have been  provided  and approved in advance to  Intermediary),  and
such  ownership can be  demonstrated  to the  Intermediary  under the Anti-Money
laundering  regulations.  Third party  transfers will not be entertained  unless
pursuant to Article 2.2.5.1.
2.2.4.4.  Investor(s) Share Availability
Following the completion of any given  Breakout/Workout,  that portion of Common
Shares  available  for  "uncovering",  as per  Article  2.2.1.2.2.,  will become
"uncovered" and available to the Investor(s) for sale,  transfer or to Deal with
in any other way.

2.2.5.   Wire Transfers
2.2.5.1. Instructions
Any instruction for wire delivery,  as included in Exhibit B, may be modified by
the  respective  party through  delivery of new  instructions  evidencing  those
instructions  and  requesting  to have those  instructions  modify the  existing

                                       11
<PAGE>
instructions.  Instructions shall be accepted to any account which is rightfully
owned by the  requesting  party and such  ownership can be  demonstrated  to the
satisfaction of the Intermediaries Anti-Money laundering compliance.  Such proof
can be through  ownership  letters from the current  bank,  proper  instructions
evidencing  ownership by the requesting party. Third party transfers will not be
entertained to any party's solicitor,  broker or other party unless a designated
client  account name and number can verify the  ownership.  Any such third party
transfer  must be  requested  in writing and a  statement  as to whether it is a
onetime transfer or continuous instructions.
2.2.5.2. Requests
Any such Transfer  Requests and or Instructions must specify whether they are to
replace those instructions in Exhibit B, in which case an amendment to Exhibit B
must be submitted and agreed to,  otherwise,  the Instructions must specify that
they are one time only.
2.2.5.3. Verification of Receipt
Intermediary  is not responsible for following up with Company or Investor(s) on
any transfers of capital.  Once  instructions have been executed by Intermediary
to transfer,  it is up to the Company to verify such wire arrived.  Intermediary
makes no  representations  as to the length of time  necessary  to complete  any
given wire. Time frames depend on the Bank conduit,  international  regulations,
Anti-Money Laundering controls and any governmental requirements.
2.2.5.4. Troubleshooting
In the event that a given wire does not appear, Intermediary shall take all such
steps as it has  available  to it to track  such  wire  through  to the  Working
Account  or such  other  account  the money may have  been sent to  pursuant  to
Article 2.2.4.3 or to cancel the previous wire and reissue the wire request.

2.2.6. Breakout/Workout Accounting
2.2.6.1. Audit Request Letters
Intermediary be available to verify account  balances  through any audit request
letter issued by the Company's  auditors.  Intermediary shall charge $250.00 per
audit request letter  verification.  Intermediary's  response will be limited to
the amount of capital within any account in the Company's name or in the name of
any  member  of  its  Group  at  that  given  point  and  any  previous  account
demonstrations   previously   issued  by   Intermediary.   Intermediary  is  not
responsible   for  any  accounting  or  financial   discrepancies   of  Company.
Intermediary  will at no time allow an in office  audit of their  records by the
Company or its auditors.

2.2.6.2. Transfers
Intermediary evidences external transfers through debits of cash in an account.
2.2.6.3. Statements
Intermediary  shall prepare statements showing the cash remaining in the account
following any given Breakout/Workout.

2.3. Warrants
2.3.1. Exercise
Intermediary  shall  act as a  conduit  for  exercise  of  warrants  through  an
identical methodology as that in the Unit Subscription Agreement.  Such exercise
shall  utilize the Cash Account  Intermediary  has created for Company.  Warrant
Exercise is not subject to any market  conditions and will therefore not require
any additional market controls.  Additional  requirements of capital release and
the Warrant Exercise  Schedule can be found in the MOT Section III. All Warrants
purchased by the Investor(s) may be exercised at any time up to their expiration
date.
2.3.2.   Notification
The  Intermediary  shall  notify the  Company of any  Investor(s)  intention  to
exercise their  warrants.  The Warrant  Exercise  Notification  (the "WEN"),  as

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detailed in the USA Exhibit D, must  specify  the  Warrant  Series,  Investor(s)
exercising  the  Warrant  Series,  the number of  Warrants  of the Series  being
exercised,   the  number  of  Certificates   and  the  share  amounts  of  those
Certificates and the purchase amount for the exercise.
2.3.3    Company Delivery
Upon  notification,  the Company will issue Common Share  Certificates,  free of
restrictive  legend,  in the name and amounts  specified in the Warrant Exercise
Notification.  These  Certificates  will be  delivered to the  Intermediary  for
deposit.
2.3.4    Additional Documentation
Should the Intermediary or its Depository require additional  documentation from
the Company in order to deposit the Certificates,  the Company will provide that
documentation  as requested in a rapid and time efficient  manner.  Should legal
opinions,   Registrations   or  other  expenses  be  necessary  to  provide  the
Certificates free of restrictive legend, the Company shall bear these expenses.
2.3.5    Cash Transfer
Intermediary  shall secure monies from the Investor(s).  Pending delivery of the
underlying share  certificates  free of restrictive  legend and the accompanying
legal opinion on the issuance and  tradability of the Common Shares,  the monies
will then be transferred from the Cash Account to the Working Account.

2.3.6.   Capital Delivery
2.3.6.1. Capital Undertaking(s)
Intermediary  will be in receipt of capital  "Undertaking(s)"  from  Investor(s)
sufficient  to acquire  the  underlying  Securities  of that  Warrant  Series as
identified  in the MOT Section III. At Closing,  the  Intermediary  shall secure
such  monies  for credit to the Cash  Account.  No  interest  will be applied to
monies managed by the Intermediary. Intermediary shall not deal with such monies
from Investor(s) in any way save for those  instructions  within this Agreement.
All such Undertakings according to Bahamian Banking regulations shall be treated
as a Confidential communication between the Investor(s) and Intermediary.
2.3.6.2. Evidentiary Letter
Intermediary will issue a letter to Investor(s), Advisor and Company in evidence
that such monies are secured and Pre-Closing is awaiting deposit of Free Trading
Securities for that Warrant Series.

2.3.7.   Certificated Security Trust
2.3.7.1. Certificate Delivery
The Company shall deliver to the  Intermediary  prior to Closing  start,  in the
Investor(s) name(s) and in the denominations called for in Exhibit A, those free
trading share certificates evidencing the purchase for that Warrant Series which
is being  exercised  as per  Article  2.3.2.  Along with the  certificates,  the
Company  must  deliver  the  required   Registration  Proxy  or  opinion  letter
evidencing  the free  trading  nature of the  shares.  The  Company  must  issue
certificates  in the  amount  requested  by the  WEN,  or  the  Intermediary  is
instructed  to send back those  certificates  not  according to the  certificate
schedule for cancellation and reissuance prior to Closing.
2.3.7.2. Evidentiary Letter
Upon Receipt,  the Intermediary shall verify that the certificates  delivered by
the Company match in  denomination  and number as those  certificates  listed in
WEN.  Should the  certificates  not match,  the  Intermediary  will return those
certificates  which  are  out of  sync  with  the WEN  and  will  specify  those
certificates in the Evidentiary Letter.
2.3.7.3. Certificate Reissuance
Should  the  Evidentiary  letter  call for it, the  Company  will  cancel  those

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<PAGE>
certificates  issued in error and reissue the correct  securities  certificates.
Such corrected  certificates  shall be delivered to the  Intermediary as soon as
possible.
2.3.7.4. Secondary Evidentiary Letter
Upon receipt and  verification of the corrected  certificates,  the Intermediary
shall start the process of Article 2.3.7. anew, until all certificates  matching
the WEN have been issued and delivered to the Intermediary.

2.3.8.   Closing Checklist
2.3.8.1  Closing Establishment
Following  issuance of the WEN and Evidentiary  Letters,  the Intermediary shall
check to  ensure  that the  proper  documentation  is in place  and all  actions
necessary to approve the close of the Warrant  purchase  identified  in that WEN
have been delivered before ordering the close.
2.3.8.2. Deficiency
Should the Intermediary  determine that a deficiency exists in the documentation
provided,  the  Intermediary  shall  issue a  request  immediately  to the party
responsible for the documentation.  The Intermediary shall await the delivery of
the required documentation before issuing any evidentiary letters.

2.3.9.   Closing Window Compliance
During the Closing Window period (72 hours),  the Intermediary  will confirm the
following:
(a) Status of parties
(b) Signature authorization
(c) Signature Coverage
(d) Legal Opinion Issuance
(e) Corporate Resolution Issuance
(f) Due Diligence List Completion
(g) Conflicts Check
(h) Certificate Verification
(i) Money Laundering Compliance
(j) Undertaking Verification

2.3.10. Closing
Closing shall take place as follows:
2.3.10.1. Intermediary shall credit monies from Investor(s) to Cash Account, and
Certificated Securities from Company to Investor(s) Accounts.
2.1.5.3.  Upon  delivery of capital,  the  Intermediary  will wire transfer that
capital, minus the Cash Holdback and fees, to the instructions lodged in Exhibit
B.
2.1.3.4.  Upon  transfer  of the  Securities  to the  Investor(s)  account,  the
Investors may deal with those Securities at will as they wish.

2.3.11. Cash Holdback
The  Intermediary  shall withhold that portion of the Warrant Exercise as called
for in the MOT  Section  III Figure 9 for Cash  Holdback  and Monthly and Annual
Account Fee's.
2.3.11.1. Cash Holdback Distribution
Intermediary  is  instructed to cover all expenses of the  Investors,  including
general and service expenses and other billable expenses from the Cash Holdback.
Any  amounts  owing to the  Intermediary  over and  above the  expenses  already
covered will be billed to the Cash  Holdback.  Any amounts not expensed shall be
returned to the Cash Account.
2.3.12.  Reversing Transactions
Intermediary shall not from the time of closing forward, entertain requests from

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<PAGE>
Company or Investor(s)  individually to "Reverse" the  transactions by returning
or exchanging monies for purchased securities.

2.3.13.  Evidenced Transaction Documents
2.3.13.1. Closing Notice
Intermediary  shall provide a letter to Advisor,  Company and Investor(s) by the
end of  the  same  Business  Day  as  Closing,  evidencing  the  closing  of the
transaction and stating the amount of capital credited to the Company's Account.
2.3.13.2. Agreement Dominance Letter
Intermediary shall state in the letter that this Account Management Agreement is
in full force and effect.

2.4. Windup
2.4.1. Completion of this Agreement
Following the completion of all Breakout/Workouts,  payout of all monies in Cash
Account,  payment of all fees and exercise of all Warrants,  this Agreement will
cease.
2.4.2.   Account Windup
Intermediary  shall not require  permission of either  Company or Investor(s) to
wind up the  Cash  Account  following  completion  of this  Agreement.  Prior to
windup,  all cash  remaining  in the Cash  Account  will be wired to the Company
minus any outstanding fees.
2.4.3.   Notifications
Intermediary  shall evidence such winding up through notice to Company,  Advisor
and  Investor(s)  that this  Agreement is no longer in force and effect and that
the Cash Account has been closed.

2.5      Use of Proceeds Accounting
2.5.1.   Use of Proceeds
The Use of Proceeds Agreed to is included in the MOT Exhibit F.
2.5.2.   Company Reporting
The Company will provide Quarterly and annual reports to the Intermediary on the
Use of the Proceeds. The Report must specify the following:
a. Where monies in the Working Account were spent
b.  Specifying any deviations from the Use of Proceeds listed in the MOT Exhibit
F
c. Quarterly statements from the auditors attesting to a. and b. above

2.5.3. Deviation Communication
If the Company is expecting any deviation  from the Use of Proceeds in excess of
$20,000,  the Company must  communicate with the Advisor ahead of such deviation
to secure an amendment to the Use of Proceeds.  Any such request should identify
the valuation accretion created by the deviation,  or specify the special issues
causing the deviation.
2.5.4.   Deviation Acceptance
The Advisor will be appointed to arbitrate the  acceptance  of a deviation.  The
Advisor  shall  notify the Company and the  Intermediary  of its  acceptance  or
rejection of the Deviation in question. Any rejection should specify the reasons
for rejection and offer an alternative to the Deviation.
2.5.5.   Deviation Negotiation
Until the Company and the Advisor  come to an agreement  on the  Deviation,  the
Company shall refrain from such  Deviation.  The Advisor will not  unnecessarily
withhold its agreement to the Deviation,  but will utilize value creation as its
guide.  Nothing herein is a release of Advisors rights to determine  whether the
Deviation creates value and hence whether it should be approved or denied.

                                       15
<PAGE>
2.5.6. Non-Compliant Deviation
Should the Company  deviate  from the Use of Proceeds  without  gaining  Advisor
approval,  the Advisor shall have the right to request the  Intermediary to turn
the matter over to the Compliance  Attorney for  resolution.  Should the Advisor
not make such request,  will in no way relieve the Company of its  obligation to
seek such approval in the future,  nor alleviate the Advisors right to challenge
the deviation.

2.6      Company Compliance
The Company will have  deposited  500,000 super voting Class C Preferred  Shares
with the Compliance Attorney. The Compliance Attorney contact information can be
found in Exhibit C.
2.6.1.   Notification
Should the Intermediary require assistance from the Compliance Attorney in order
to  compel  the  Company  to Act,  perform  or  satisfy a  rectification  of any
deviation  from  the  Use  of  Proceeds,   the  Intermediary  is  instructed  to
communicate the Compliance issue to the Compliance  Attorney.  Such Notification
shall be in writing and be delivered via the Advisor to the Compliance Attorney.
The Notification must specify the Compliance issue, the requests made to rectify
and the dates of such requests.
2.6.2. Breakout/Workout Pause
Should the Company not come into Compliance  within 30 days, the Intermediary is
instructed to pause any Breakout/Workout  until such time as the Intermediary is
made aware that Compliance has been reestablished.

2.6.3.   Response
The Compliance  Attorney will be able to force Compliance through the Compliance
Attorney  Agreement  (the "CAA").  Upon  attaining  Compliance,  the  Compliance
Attorney shall deliver a notification to Intermediary and Advisor notifying them
that Compliance has been reestablished and providing any documentation or action
requested by the Intermediary.  Upon this finding, the Intermediary may continue
to carry out instructions.
2.6.4. Breakout/Workout Restart
The   Intermediary   is   instructed   to  start  the   clock  on  the   current
Breakout/Workout  afresh and not to account for any  previous  volume or pricing
which may have been  accounted  for  before  the  Compliance  Attorney  turnover
occurred.

2.7      Breakup
2.7.1. Notification of Breakup
Should the Company  and  Investor(s)  decide to enter into a Breakup  Agreement,
such  Agreement  must  be  signed  by the  Company,  each  Investor(s)  and  the
Intermediary.
2.7.2. Breakup Timing
Should a  Breakout/Workout  be in process of delivery,  the Breakup  shall occur
following the delivery of that  Breakout/Workout.  If no deliveries are expected
to occur, the Intermediary  may cease the  Breakout/Workout  in order to Breakup
the transaction.
2.7.3. Fees
Any Breakup  must include the payment of the  Intermediaries  monthly and annual
fees for the next 12 months in cash.
2.7.4. Certificates
Should the Breakup call for a transfer of Securities to the  Investor(s),  those
Certificates  must be delivered with all legal opinions,  registrations or other
documentation to allow the Investor(s) to deposit the securities.  Such delivery
of Certificates must occur prior to Breakup Closing. Should the Certificates not
be delivered, the Intermediary is instructed to continue to operate according to
the Instructions of this Account  Management  Agreement until such time as those
Certificates are delivered and deposited.

                                       16
<PAGE>
2.7.5. Non Performance
Should the Company fail to deliver the  required  share  Certificates  or agreed
upon fees within 30 days of signing the Breakup Agreement, the Breakup Agreement
shall be considered null and void, and the Intermediary is hereby  instructed to
continue with the Instructions from this Agreement.

2.8      Terms Verification
Should the Intermediary be made aware of any breach of the Terms of the Offering
as per the Memorandum of Terms, Unit  Subscription  Agreement or this Agreement,
the Intermediary shall notify the Advisor,  Compliance  Attorney and the Company
of such breach immediately.
2.8.1.   Rectification
The  Company  will have 30 days to return  to  Compliance  with the Terms of the
Offering or to obtain an Amendment to the  Offering  Terms with the  Investor(s)
which would provide new instructions to the Intermediary.

ARTICLE III.
INTERMEDIARY REPS AND WARRANTIES.
The undersigned,  on behalf of Elco Securities, Ltd. a registered Level 2 Broker
Dealer and  having an address of  Loyalist  Plaza,  Don Mackay  Boulevard  Marsh
Harbor,   Abaco   operating   under   license   by   the   Bahamian   Government
("Intermediary"), hereby warrants and represents as follows:

3.1 Representations:
3.1.1. Intermediary has taken all corporate and legal actions necessary to enact
this Agreement and to execute its activities under this Agreement.
3.1.2.  That  Intermediary  is licensed to act in this capacity and to offer the
services of an Intermediary as the definition describes.  That Intermediary is a
licensed Broker Dealer with the Securities Commission of the Bahamas. As part of
its duties, the Intermediary will provide brokerage services for the Investor(s)
and effect share  transfers.  That  Intermediary  holds all  necessary  consents
required to accept the cash  deposits  within the Cash  Account as a  registered
broker dealer.
3.1.3. As of the date hereof, Intermediary has not received notice of any liens,
claims or encumbrances with respect to the Cash Account,  except with respect to
Company  pursuant to this  Agreement,  and  Intermediary  has not  confirmed any
interest  in the  Cash  Account  to any  persons  other  than  pursuant  to this
Agreement.
3.1.4.  Intermediary  agrees that it will not debit the Cash  Account to satisfy
obligations  of any party  other than the  Company  and/or  not  related to this
Agreement or the accepted UOP.
3.1.5.  Intermediary  has a first  lien and  security  interest  in the Cash and
Securities  Account(s)  as  security  for the  payment  and  performance  of all
obligations to Intermediary arising out of the management of this Agreement.
3.1.6. Intermediary shall not deliver to Company or the Investor(s) any property
whatsoever  from the Cash  Account or  Investor(s)  Account  including,  but not
limited to (1) cash  distributions  including cash dividends or interest paid on
assets  held  in  the  relevant  Account;  or,  (2)  stock  dividends;  or,  (3)
distributions  in  property  except upon  instructions  from this  Agreement  as
specifically listed in Article II.
3.1.7.  Intermediary  acting as principle agent provides and gives no assurances
as to the legality of this  Agreement,  marketability  of the  securities or the
tradable  volumes and will only act as broker and custodian to  facilitate  this
Agreement.
3.1.8.  Intermediary  shall act as  principle  agent in  addition to its role as

                                       17
<PAGE>
Intermediary.  Intermediary  understands that this means they will be making all
decisions regarding this Agreement and executing those transactions.
3.1.9.  Intermediary  shall keep the Cash Account as a segregated  account where
such monies shall not be mixed with any other  monies and shall  remain  clearly
identifiable.

ARTICLE IV.
COMPANY REPS & WARRANTIES.

The Company warrants as at the date of this Agreement the following:

4.1      Warranties
4.1.1. By signing below the Company  confirms to  Intermediary  that Company has
instructed Intermediary to open the Cash Account.
4.1.2.  Company further agrees and acknowledges  that the rights and obligations
of the  parties  hereto  relating  to the  Cash  Account  are  governed  by this
Agreement executed by Company with  Intermediary,  regardless of whether Company
has executed a Customer Agreement in connection with the Cash Account or not and
that  this  Agreement  shall  take  precedence  over the  terms of any  Customer
Agreement.
4.1.3.  That  Company  has  taken all  necessary  corporate  and  legal  actions
necessary to transact this Agreement.  That Company has full right and authority
to issue said  Securities and to enter into the Unit  Subscription  Agreement in
connection with said Securities.
4.1.4.  Company  represents  and  warranties  that this  Agreement is an Account
Management Agreement and is not part in any way of illegal or deceptive means of
transferring funds.
4.1.5.  Company hereby agrees that the Intermediary hereof shall not be required
first to institute  suit or exhaust its remedies  hereon  against the Company to
enforce this agreement.
4.1.6.  Company  hereby  agrees to consult  and act in a  responsible  and legal
manner  in  its  transactions  with  Intermediary.   Company   understands  that
Intermediary and Investor(s) take no  responsibility  for breaches of Securities
Regulations here or abroad which Company may commit.
4.1.7. Company hereby agrees to release, discharge,  indemnify and hold harmless
Intermediary,  its  affiliates,  officers and employees from and against any and
all losses,  claims,  causes of action,  liabilities,  lawsuits,  demands and/or
damages,  including,  without limitation, any and all court costs and reasonable
attorneys'  fees and  expenses  arising out of or incurred  in  connection  with
Intermediary  complying  with  instructions  from the Company in relation to the
Cash Account in accordance with this Agreement.
4.1.8.  Company  agrees that it will not act outside of this Agreement to induce
any  contravention  of this  Agreement.  Company  shall not make any attempts to
cancel or otherwise reduce the effect of this Agreement upon the Cash Account or
Investor(s) Securities.
4.1.9. In the event that Intermediary becomes involved in litigation as a result
of complying  with this  Agreement,  Company agrees that  Intermediary  shall be
entitled to charge all the costs and fees (including  reasonable attorneys' fees
and expenses) it incurs in connection  with such litigation to the assets in the
Cash Account and to the assets of Company held by  Intermediary  and to withdraw
such  sums as the costs  and  charges  accrue,  and  Company  shall be liable to
Intermediary  and Investor(s)  for any deficiency  resulting from this indemnity
and for any legal fees in the construct, execution or defense of this agreement.
4.1.10.  Company  confirms that the Cash Account  shall  contain  cash.  Company
acknowledges  that this entails risk.  Intermediary is not instructed to operate
any capital appreciation program and the Cash Account will not bear interest.
4.1.11.  Company  formally  states that as of the date hereof,  there is not any
notice of liens,  claims  or  encumbrances  with  respect  to the  Shares or the
Warrants to be issued pursuant to the Unit Subscription Agreement.

                                       18
<PAGE>
4.1.12.  Company  understands  and  agrees  that  pursuant  to  this  Agreement,
Intermediary  has a first  lien and  security  interest  in the Cash  Account as
security  for the  payment  and  performance  of all  obligations  of Company to
Intermediary  arising out of the  Account.  Company  agrees to that  language in
Article II.

4.1.13.  Company consents and agrees that the only  communications that shall be
given to  Intermediary  by Company shall be given by the  authorized  officer or
person of Company.  Such Person will have been the person  authorized by Company
to issue such  communication as evidenced by a board resolution and provision of
the appropriate documents to Intermediary.
4.1.14.  Company understands that Intermediary shall not, deliver to Company any
property whatsoever from the Cash Account including, but not limited to (1) cash
distributions  including  cash  dividends or interest paid on assets held in the
Account; (2) stock dividends; (3) distributions in property; or (4) cash returns
of capital from the Account unless otherwise specified herein.
4.1.15.  Company  further  understands  that in  event  that a  Breakout/Workout
requirement is not met, as evidenced by an opinion letter from  Intermediary  to
Company and  Investor(s),  that  Company  shall not be entitled to receive  such
Breakout/Workout  until such time as the  requirements  are met. If negotiations
are undertaken  between the Company and Investor(s),  any such agreement must be
evidenced in writing to the  Intermediary and signed by both parties in order to
make an alteration to the Instructions of this Agreement.
4.1.16. The Company hereby agrees to hold Intermediary harmless in event of loss
from misdirection  from Intermediary as a result of incorrect  instructions from
Company  or from any loss  relating  to the  currency  held in the Cash  Account
pursuant  to this  Agreement.  Should  misdirection  occur as a result of fraud,
theft or other  means not as a result of  Intermediaries  actions,  Company  and
Intermediary  agree to cooperate in suit against such  responsible  party. At no
time shall Company  institute  suit against  Intermediary  to recover funds from
Intermediary which were misdirected through no fault of Intermediary.

ARTICLE V.
INVESTOR(S) REPS AND WARRANTIES.
By signature below, each respective Secured party, individually,  hereby agrees,
represents and warrants to Intermediary the following:

5.1. Representations
5.1.1. The Investor(s) agree to hold Intermediary harmless in event of loss from
misdirection  from   Intermediary   other  than  illegal   misappropriation   by
Intermediary or from forces outside of the control of the Intermediary.
5.1.2. The Investor(s) have taken all necessary  corporate action to enable them
to enter into this transaction.
5.1.3. Investor(s) agree to allow Intermediary to make decisions regarding their
security  interest in the assets of the  account  based on this  Agreement,  and
further  agree to hold the  Intermediary  harmless in any matter short of theft,
loss of securities or illegal activity on the part of the Intermediary.
5.1.4.  Investor(s)  hereby  represent and warranty that this Agreement is not a
Securities  purchase  and sale  agreement  and not part in any way of illegal or
deceptive means of transferring funds.
5.1.5.  Investor(s) shall deliver all necessary documents and sign all necessary
transfer   letters  on  opinion  from   Intermediary.   Investor(s)   shall  not
unnecessarily  withhold their  signature from any document except in the case of
substantive  discrepancy  in any  Breakout/Workout  provision,  modification  of
payment or transfer due.
5.1.6.  Investor(s)  agree that only their  authorized  representatives  will be
allowed to provide instructions to and communicate with Intermediary.

                                       19
<PAGE>
5.1.7.  Investor(s) confirm that their accounts will contain securities and that
Intermediary makes no claim, guarantee or warrantee on the tradability or market
of those securities and that these securities entail risk.
5.1.8.  Investor(s)  hereby agree to consult and act in a responsible  and legal
manner in its transactions with Intermediary.
5.1.9.  Investor(s)  represent  and warranty  that this  Agreement is an Account
Management  Agreement  and not part in any way of illegal or deceptive  means of
transferring funds.
5.1.10.   Investor(s)   further  agree  and  acknowledge  that  the  rights  and
obligations  of the parties  hereto  relating to the  Securities  Account(s) are
governed  by  the  Customer   Agreement   executed  by   Investor(s)   with  the
Intermediary,   regardless  of  whether  Investor(s)  has  executed  a  Customer
Agreement in connection with the Account or not.
5.1.11.   Investor(s)  agree  to  the  instructions  and  requirements  of  this
Agreement.
5.1.12.  Investor(s)  hereby  agree that the  Intermediary  hereof  shall not be
required  first to  institute  suit or exhaust its remedies  hereon  against the
Investor(s) to enforce this Agreement.
5.1.13.  Investor(s)  shall not make any attempts to cancel or otherwise  reduce
the effect of this Agreement upon the cash in Cash Account or the Securities.

ARTICLE VI.
FEES.
6.1.1.   Agreement to Pay Fees
Company and Investor(s)  agree to pay fees as part of the Use of Proceeds.  Such
payments  will be made  directly  from the Cash Account on  satisfaction  of the
respective Breakout/Workout.
6.1.2.   Cash Holdback
Intermediary   shall  holdback  $5,000  per   Breakout/Workout   on  the  Equity
Breakout/Workouts  and that  portion of the  Warrants  as  described  in the MOT
Section III. Such  Holdback  shall be retained by the  Intermediary  and used to
cover expenses  billed to the  Intermediary  for the management and execution of
the  Offering.  Any cash not used to cover  expenses  shall be  returned  to the
Company at the completion of the offering.

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                                       20
<PAGE>
ARTICLE VII.
FURTHER PROVISIONS.
7.1. Modification:
This Agreement may not be amended or modified without the written consent of the
Company, the Intermediary and the Investor(s).  Any such amendments shall be add
ended to this agreement and labeled as to (AMA (Title), Addendum # Date).
7.2. Adjudication:
This Agreement shall be governed by and construed in accordance with the laws of
the  Commonwealth of the Bahamas,  without giving effect to any conflicts of law
provisions thereof, and shall be binding upon Company's and Investor(s)' estate,
executors  and heirs,  and upon the  successors  and  assigns  of  Intermediary,
Investor(s) and Company.  Any suits brought due to this agreement shall be filed
and adjudicated in the Bahamas.
7.3. Counterparts:
This  Agreement  may be  executed in any number of  counterparts,  each of which
shall be deemed to be an original and all of which  together  shall be deemed to
be one and the same instrument.
7.4. Notices:
All notices shall be sent to the addresses listed in Exhibit C.
7.5. Confidentiality:
This Agreement and all counterparts  thereof shall be deemed confidential except
any  disclosure  required by law or any stock exchange or as may be disclosed to
any shareholders.  All standards of confidentiality  shall apply. No party shall
discuss this  Agreement  with any party  outside of this  agreement  without the
written  consent of the Company,  Intermediary  and  Investor(s).  The following
parties  are  herewith   agreed   recipients  of   information   regarding  this
transaction,  its agreements and all aspects of said  documents.  The parties to
this Agreement are hereby bound by confidentiality as per these agreements.
7.6. Termination:
Company and  Investor(s)  may jointly elect to terminate  this  Agreement at any
time up to 2 hours prior to the Closing of the Offering by the Intermediary.
7.7. Severability:
If any part of this Agreement is found to be unlawful,  the remaining provisions
shall inure to the parties and shall continue in full force and effect.
7.8. Monetary Equivalent:
Any  financial  values or monetary  amounts in this  Agreement,  and any and all
addendums and corollaries shall be construed and represented as being US Dollars
($) unless otherwise specified.
7.9. Amendments and Waivers:
Any term of this  Agreement  may be  amended,  only in a  writing  signed by the
Company and the Investor(s). Any amendment or waiver affected in accordance with
this Article shall be binding upon the Company and each Investor(s).
7.10. Entire Agreement:
This agreement will uphold and add to the MOT and USA upon closing.
7.11. 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.

7.12. Transfer; Successors and Assigns
The  provisions  of this  Agreement  shall inure to the benefit of, and shall be
binding upon, the successors and permitted  assigns of the parties  hereto.  The
Company may not assign its rights and obligations  hereunder without the consent
of the Investor(s), the Advisor and the Intermediary (which consent shall not be
unreasonably withheld or delayed). The provisions of this Article 7.12 shall not
limit the Investor(s)'  ability to assign their rights and obligations under any

                                       21
<PAGE>
Transaction  Document.  The  Intermediary  shall be notified  immediately of any
change in ownership, rights or obligations and provided with the new contact for
the  ownership.  Any  purchaser,  transferee or obligator will be subject to the
original Unit Subscription Agreement and this Account Management Agreement.
7.13.    Survival of Reps and Warranties
The  Representations  and  Warranties  in this  Agreement,  including any rights
arising out of any breach of such Representations and Warranties,  shall survive
the Closing for a period of two years.
7.14. Adjustments for Stock Splits, Etc.:
Where in this Agreement  there is a reference to a specific number of Securities
or  value  of  such  Shares,  then,  upon  the  occurrence  of any  subdivision,
combination,  stock  dividend or stock split,  the  specific  number or value of
shares so referenced in this Agreement  shall  automatically  be  proportionally
adjusted to reflect the effect of such subdivision,  combination, stock dividend
or stock split on the outstanding shares of stock.

                                       22
<PAGE>
IN WITNESS WHEREOF,  the undersigned  hereby execute this Agreement and cause it
to be put in action.  Copies of this agreement  shall be delivered in triplicate
to Company,  Intermediary  and Investor(s) with a copy uploaded to the Company's
Online Portal hosted by the Advisor, as of the date indicated below.

I, Isaac Collie  hereby  execute this  agreement  and assert my agreement to its
covenants and responsibilities.

         By: /s/ Isaac Collie                 Date: 08.17.12
         Name:  Isaac Collie
         Title: Account Manager (Intermediary)

I, Robert  Malasek of Liberty  Coal Energy  hereby  execute this  agreement  and
assert my agreement to its covenants and responsibilities.

         By: /s/ Robert Malasek               Date: 08.17.12

         Name:  Robert Malasek
         Title: Company
         Corporate Seal: (No Corporate Seal)

(Insert Investor(s) Block for Signatures)

                                       23
<PAGE>
                                    EXHIBIT A

                                Certificate List
<TABLE>
<CAPTION>
          Copperbottom Investments, Ltd.                           Absentia Holdings, Ltd.

Com. Cert #     # Com Shrs.      Cash Amount             Com. Cert #     # Com Shrs.      Cash Amount
-----------     -----------      -----------             -----------     -----------      -----------
<S>             <C>             <C>                         <C>          <C>             <C>
   1125         1,702,500       $  25,537.50                1161         1,702,500       $  25,537.50
   1126         1,590,640       $  25,537.50                1162         1,590,640       $  25,537.50
   1127         1,486,210       $  25,537.50                1163         1,486,210       $  25,537.50
   1128         1,388,690       $  25,537.50                1164         1,388,690       $  25,537.50
   1129         1,297,640       $  25,537.50                1165         1,297,640       $  25,537.50
   1130         1,212,610       $  25,537.50                1166         1,212,610       $  25,537.50
   1131         1,133,210       $  25,537.50                1167         1,133,210       $  25,537.50
   1132         1,059,060       $  25,537.50                1168         1,059,060       $  25,537.50
   1133           989,800       $  25,537.50                1169           989,800       $  25,537.50
   1134           925,120       $  25,537.50                1170           925,120       $  25,537.50
   1135           864,700       $  25,537.50                1171           864,700       $  25,537.50
   1136           808,260       $  25,537.50                1172           808,260       $  25,537.50
   1137           755,900       $  25,550.00                1173           755,900       $  25,550.00
   1138           706,630       $  25,550.00                1174           706,630       $  25,550.00
   1139           660,590       $  25,550.00                1175           660,590       $  25,550.00
   1140           617,570       $  25,550.00                1176           617,570       $  25,550.00
   1141           577,390       $  25,550.00                1177           577,390       $  25,550.00
   1142           539,830       $  25,550.00                1178           539,830       $  25,550.00
   1143           504,740       $  25,550.00                1179           504,740       $  25,550.00
   1144           471,950       $  25,550.00                1180           471,950       $  25,550.00
   1145           441,310       $  25,550.00                1181           441,310       $  25,550.00
   1146           412,670       $  25,550.00                1182           412,670       $  25,550.00
   1147           385,910       $  25,550.00                1183           385,910       $  25,550.00
   1148           360,890       $  25,550.00                1184           360,890       $  25,550.00
   1149           337,510       $  25,550.00                1185           337,510       $  25,550.00
   1150           315,650       $  25,550.00                1186           315,650       $  25,550.00
   1151           295,220       $  25,550.00                1187           295,220       $  25,550.00
   1152           276,130       $  25,550.00                1188           276,130       $  25,550.00
   1153           258,270       $  25,550.00                1189           258,270       $  25,550.00
   1154           241,580       $  25,550.00                1190           241,580       $  25,550.00
   1155           225,980       $  25,550.00                1191           225,980       $  25,550.00
   1156           211,390       $  25,550.00                1192           211,390       $  25,550.00
   1157           197,750       $  25,550.00                1193           197,750       $  25,550.00
   1158           184,990       $  25,550.00                1194           184,990       $  25,550.00
   1159           173,060       $  25,550.00                1195           173,060       $  25,550.00
   1160           161,910       $  25,550.00                1196           161,910       $  25,550.00
               23,773,260       $ 919,650.00                            23,773,260       $ 919,650.00

  Britania Securities International, Ltd                    AgriTechnologies International, Ltd.

Com. Cert #     # Com Shrs.      Cash Amount             Com. Cert #     # Com Shrs.      Cash Amount
-----------     -----------      -----------             -----------     -----------      -----------
   1197         1,702,500       $  25,537.50                 1233        1,702,500       $  25,537.50
   1198         1,590,640       $  25,537.50                 1234        1,590,640       $  25,537.50
   1199         1,486,210       $  25,537.50                 1235        1,486,210       $  25,537.50
   1200         1,388,690       $  25,537.50                 1236        1,388,690       $  25,537.50
   1201         1,297,640       $  25,537.50                 1237        1,297,640       $  25,537.50
   1202         1,212,610       $  25,537.50                 1238        1,212,610       $  25,537.50
   1203         1,133,210       $  25,537.50                 1239        1,133,210       $  25,537.50
   1204         1,059,060       $  25,537.50                 1240        1,059,060       $  25,537.50
   1205           989,800       $  25,537.50                 1241          989,800       $  25,537.50
   1206           925,120       $  25,537.50                 1242          925,120       $  25,537.50
   1207           864,700       $  25,537.50                 1243          864,700       $  25,537.50
   1208           808,260       $  25,537.50                 1244          808,260       $  25,537.50
   1209           755,900       $  25,550.00                 1245          755,900       $  25,550.00
   1210           706,630       $  25,550.00                 1246          706,630       $  25,550.00
   1211           660,590       $  25,550.00                 1247          660,590       $  25,550.00
   1212           617,570       $  25,550.00                 1248          617,570       $  25,550.00
   1213           577,390       $  25,550.00                 1249          577,390       $  25,550.00
   1214           539,830       $  25,550.00                 1250          539,830       $  25,550.00
   1215           504,740       $  25,550.00                 1251          504,740       $  25,550.00
   1216           471,950       $  25,550.00                 1252          471,950       $  25,550.00
   1217           441,310       $  25,550.00                 1253          441,310       $  25,550.00
   1218           412,670       $  25,550.00                 1254          412,670       $  25,550.00
   1219           385,910       $  25,550.00                 1255          385,910       $  25,550.00
   1220           360,890       $  25,550.00                 1256          360,890       $  25,550.00
   1221           337,510       $  25,550.00                 1257          337,510       $  25,550.00
   1222           315,650       $  25,550.00                 1258          315,650       $  25,550.00
   1223           295,220       $  25,550.00                 1259          295,220       $  25,550.00
   1224           276,130       $  25,550.00                 1260          276,130       $  25,550.00
   1225           258,270       $  25,550.00                 1261          258,270       $  25,550.00
   1226           241,580       $  25,550.00                 1262          241,580       $  25,550.00
   1227           225,980       $  25,550.00                 1263          225,980       $  25,550.00
   1228           211,390       $  25,550.00                 1264          211,390       $  25,550.00
   1229           197,750       $  25,550.00                 1265          197,750       $  25,550.00
   1230           184,990       $  25,550.00                 1266          184,990       $  25,550.00
   1231           173,060       $  25,550.00                 1267          173,060       $  25,550.00
   1232           161,910       $  25,550.00                 1268          161,910       $  25,550.00
               23,773,260       $ 919,650.00                            23,773,260       $ 919,650.00

          On Time Investments, Ltd.                                    RnD Company, Ltd.

Com. Cert #     # Com Shrs.      Cash Amount             Com. Cert #     # Com Shrs.      Cash Amount
-----------     -----------      -----------             -----------     -----------      -----------
   1269         1,702,500       $  25,537.50                 1305        1,702,500       $  25,537.50
   1270         1,590,640       $  25,537.50                 1306        1,590,640       $  25,537.50
   1271         1,486,210       $  25,537.50                 1307        1,486,210       $  25,537.50
   1272         1,388,690       $  25,537.50                 1308        1,388,690       $  25,537.50
   1273         1,297,640       $  25,537.50                 1309        1,297,640       $  25,537.50
   1274         1,212,610       $  25,537.50                 1310        1,212,610       $  25,537.50
   1275         1,133,210       $  25,537.50                 1311        1,133,210       $  25,537.50
   1276         1,059,060       $  25,537.50                 1312        1,059,060       $  25,537.50
   1277           989,800       $  25,537.50                 1313          989,800       $  25,537.50
   1278           925,120       $  25,537.50                 1314          925,120       $  25,537.50
   1279           864,700       $  25,537.50                 1315          864,700       $  25,537.50
   1280           808,260       $  25,537.50                 1316          808,260       $  25,537.50
   1281           755,900       $  25,550.00                 1317          755,900       $  25,550.00
   1282           706,630       $  25,550.00                 1318          706,630       $  25,550.00
   1283           660,590       $  25,550.00                 1319          660,590       $  25,550.00
   1284           617,570       $  25,550.00                 1320          617,570       $  25,550.00
   1285           577,390       $  25,550.00                 1321          577,390       $  25,550.00
   1286           539,830       $  25,550.00                 1322          539,830       $  25,550.00
   1287           504,740       $  25,550.00                 1323          504,740       $  25,550.00
   1288           471,950       $  25,550.00                 1324          471,950       $  25,550.00
   1289           441,310       $  25,550.00                 1325          441,310       $  25,550.00
   1290           412,670       $  25,550.00                 1326          412,670       $  25,550.00
   1291           385,910       $  25,550.00                 1327          385,910       $  25,550.00
   1292           360,890       $  25,550.00                 1328          360,890       $  25,550.00
   1293           337,510       $  25,550.00                 1329          337,510       $  25,550.00
   1294           315,650       $  25,550.00                 1330          315,650       $  25,550.00
   1295           295,220       $  25,550.00                 1331          295,220       $  25,550.00
   1296           276,130       $  25,550.00                 1332          276,130       $  25,550.00
   1297           258,270       $  25,550.00                 1333          258,270       $  25,550.00
   1298           241,580       $  25,550.00                 1334          241,580       $  25,550.00
   1299           225,980       $  25,550.00                 1335          225,980       $  25,550.00
   1300           211,390       $  25,550.00                 1336          211,390       $  25,550.00
   1301           197,750       $  25,550.00                 1337          197,750       $  25,550.00
   1302           184,990       $  25,550.00                 1338          184,990       $  25,550.00
   1303           173,060       $  25,550.00                 1339          173,060       $  25,550.00
   1304           161,910       $  25,550.00                 1340          161,910       $  25,550.00
               23,773,260       $ 919,650.00                            23,773,260       $ 919,650.00
</TABLE>

                                       24
<PAGE>
<TABLE>
<CAPTION>
          Rooftop Holdings, Ltd.                                  Sequence Investments, Ltd.

Com. Cert #     # Com Shrs.      Cash Amount             Com. Cert #     # Com Shrs.      Cash Amount
-----------     -----------      -----------             -----------     -----------      -----------
<S>             <C>             <C>                          <C>         <C>             <C>
   1341         1,702,500       $  25,537.50                 1377        1,702,500       $  25,537.50
   1342         1,590,640       $  25,537.50                 1378        1,590,640       $  25,537.50
   1343         1,486,210       $  25,537.50                 1379        1,486,210       $  25,537.50
   1344         1,388,690       $  25,537.50                 1380        1,388,690       $  25,537.50
   1345         1,297,640       $  25,537.50                 1381        1,297,640       $  25,537.50
   1346         1,212,610       $  25,537.50                 1382        1,212,610       $  25,537.50
   1347         1,133,210       $  25,537.50                 1383        1,133,210       $  25,537.50
   1348         1,059,060       $  25,537.50                 1384        1,059,060       $  25,537.50
   1349           989,800       $  25,537.50                 1385          989,800       $  25,537.50
   1350           925,120       $  25,537.50                 1386          925,120       $  25,537.50
   1351           864,700       $  25,537.50                 1387          864,700       $  25,537.50
   1352           808,260       $  25,537.50                 1388          808,260       $  25,537.50
   1353           755,900       $  25,550.00                 1389          755,900       $  25,550.00
   1354           706,630       $  25,550.00                 1390          706,630       $  25,550.00
   1355           660,590       $  25,550.00                 1391          660,590       $  25,550.00
   1356           617,570       $  25,550.00                 1392          617,570       $  25,550.00
   1357           577,390       $  25,550.00                 1393          577,390       $  25,550.00
   1358           539,830       $  25,550.00                 1394          539,830       $  25,550.00
   1359           504,740       $  25,550.00                 1395          504,740       $  25,550.00
   1360           471,950       $  25,550.00                 1396          471,950       $  25,550.00
   1361           441,310       $  25,550.00                 1397          441,310       $  25,550.00
   1362           412,670       $  25,550.00                 1398          412,670       $  25,550.00
   1363           385,910       $  25,550.00                 1399          385,910       $  25,550.00
   1364           360,890       $  25,550.00                 1400          360,890       $  25,550.00
   1365           337,510       $  25,550.00                 1401          337,510       $  25,550.00
   1366           315,650       $  25,550.00                 1402          315,650       $  25,550.00
   1367           295,220       $  25,550.00                 1403          295,220       $  25,550.00
   1368           276,130       $  25,550.00                 1404          276,130       $  25,550.00
   1369           258,270       $  25,550.00                 1405          258,270       $  25,550.00
   1370           241,580       $  25,550.00                 1406          241,580       $  25,550.00
   1371           225,980       $  25,550.00                 1407          225,980       $  25,550.00
   1372           211,390       $  25,550.00                 1408          211,390       $  25,550.00
   1373           197,750       $  25,550.00                 1409          197,750       $  25,550.00
   1374           184,990       $  25,550.00                 1410          184,990       $  25,550.00
   1375           173,060       $  25,550.00                 1411          173,060       $  25,550.00
   1376           161,910       $  25,550.00                 1412          161,910       $  25,550.00
               23,773,260       $ 919,650.00                            23,773,260       $ 919,650.00

         Anybright Investments, Ltd.                             Orange Investments, Ltd.

Com. Cert #     # Com Shrs.      Cash Amount             Com. Cert #     # Com Shrs.      Cash Amount
-----------     -----------      -----------             -----------     -----------      -----------
   1413         1,702,500       $  25,537.50                 1449        1,702,500       $  25,537.50
   1414         1,590,640       $  25,537.50                 1450        1,590,640       $  25,537.50
   1415         1,486,210       $  25,537.50                 1451        1,486,210       $  25,537.50
   1416         1,388,690       $  25,537.50                 1452        1,388,690       $  25,537.50
   1417         1,297,640       $  25,537.50                 1453        1,297,640       $  25,537.50
   1418         1,212,610       $  25,537.50                 1454        1,212,610       $  25,537.50
   1419         1,133,210       $  25,537.50                 1455        1,133,210       $  25,537.50
   1420         1,059,060       $  25,537.50                 1456        1,059,060       $  25,537.50
   1421           989,800       $  25,537.50                 1457          989,800       $  25,537.50
   1422           925,120       $  25,537.50                 1458          925,120       $  25,537.50
   1423           864,700       $  25,537.50                 1459          864,700       $  25,537.50
   1424           808,260       $  25,537.50                 1460          808,260       $  25,537.50
   1425           755,900       $  25,550.00                 1461          755,900       $  25,550.00
   1426           706,630       $  25,550.00                 1462          706,630       $  25,550.00
   1427           660,590       $  25,550.00                 1463          660,590       $  25,550.00
   1428           617,570       $  25,550.00                 1464          617,570       $  25,550.00
   1429           577,390       $  25,550.00                 1465          577,390       $  25,550.00
   1430           539,830       $  25,550.00                 1466          539,830       $  25,550.00
   1431           504,740       $  25,550.00                 1467          504,740       $  25,550.00
   1432           471,950       $  25,550.00                 1468          471,950       $  25,550.00
   1433           441,310       $  25,550.00                 1469          441,310       $  25,550.00
   1434           412,670       $  25,550.00                 1470          412,670       $  25,550.00
   1435           385,910       $  25,550.00                 1471          385,910       $  25,550.00
   1436           360,890       $  25,550.00                 1472          360,890       $  25,550.00
   1437           337,510       $  25,550.00                 1473          337,510       $  25,550.00
   1438           315,650       $  25,550.00                 1474          315,650       $  25,550.00
   1439           295,220       $  25,550.00                 1475          295,220       $  25,550.00
   1440           276,130       $  25,550.00                 1476          276,130       $  25,550.00
   1441           258,270       $  25,550.00                 1477          258,270       $  25,550.00
   1442           241,580       $  25,550.00                 1478          241,580       $  25,550.00
   1443           225,980       $  25,550.00                 1479          225,980       $  25,550.00
   1444           211,390       $  25,550.00                 1480          211,390       $  25,550.00
   1445           197,750       $  25,550.00                 1481          197,750       $  25,550.00
   1446           184,990       $  25,550.00                 1482          184,990       $  25,550.00
   1447           173,060       $  25,550.00                 1483          173,060       $  25,550.00
   1448           161,910       $  25,550.00                 1484          161,910       $  25,550.00
               23,773,260       $ 919,650.00                            23,773,260       $ 919,650.00
</TABLE>

                                       25
<PAGE>
                                    EXHIBIT B
                        Working Account Wire Instruction

Wells Fargo Bank
Edgewood Tahoe Branch
110 Hwy 50  P.O Box 5430
Stateline NV 89449
Ph. 775 588-6552 Fax 775 588-5853
Account ID information
Liberty Coal Energy Corp
Mailing address
Box 9963
South Lake Tahoe, CA 96158 USA
Physical Address:
1002 Ermine Court
South Lake Tahoe, CA 96150 USA
PH. 530 577-4141 Fax 530 548-7369
ABA Number 321270742
For incoming domestic wires: the routing number is 121000248
Account Number 2527746529
Swift Code for foreign wires: WFBIUS6S

                                       26
<PAGE>
                                    EXHIBIT C
                                Notice Addresses

If to Intermediary:
Elco Securities
Isaac Collie
Loyalist Plaza, Don Mackay Blvd.
P.O. Box AB-20377
Marsh Harbor
Abaco, Bahamas

If to Investor(s):
(Send all correspondence to Intermediary with a copy to Catwalk Capital, LLC.)

If to Company:
Liberty Coal Energy
99 18th Street, Suite 3000, Denver CO
Denver, Colorado 80202

With a copy to:
Catwalk Capital, LLC
1730 LaBounty Rd Ste-3, #174
Ferndale, WA 98248

And Copy to:
Ed Morrow
Box 9963
South Lake Tahoe, CA 96158

                                       27

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]