Document:

Exhibit 4.2 

This Warrant and the underlying
shares of Common Stock represented by this Certificate have not been registered under the
Securities Act of 1933 (the “Act”), and are “restricted securities” as
that term is defined in Rule 144 under the Act. The securities may not be offered for
sale, sold or otherwise transferred except pursuant to an effective registration statement
under the Act, or pursuant to an exemption from registration under the Act, the
availability of which is to be established to the reasonable satisfaction of the Company. 

Warrant No. A-2007-__ 

WARRANT TO PURCHASE
SHARES OF COMMON STOCK

Warrant to Purchase
[__________] Shares 
(subject to adjustment
as set forth herein) 

Exercise Price $4.75 Per
Share 
(subject to adjustment
as set forth herein) 

VOID AFTER 5:00 P.M.,
MOUNTAIN TIME, ON MARCH 26, 2011 

        THIS
CERTIFIES THAT [________________________________________________________] is
entitled to purchase from Security With Advanced Technology, Inc., a Colorado corporation
(hereinafter called the “Company”), with its principal office located at 10855
Dover Street, Suite 1100, Westminster, Colorado 80021, at any time beginning on
September 26, 2007 but before 5:00 P.M., Mountain Time, on March 26, 2011, at the
purchase price of $4.75 per share (the “Exercise Price”), the number of shares
(the “Shares”) of the Company’s Common Stock (the “Common Stock”)
set forth above. The number of Shares purchasable upon exercise of this Warrant and the
Exercise Price per Share shall be subject to adjustment from time to time as set forth in
Section 4 below. 

        Section
1.        Definitions.  

        The
following terms used in this agreement (this “Agreement”) shall have the
following meanings (unless otherwise expressly provided herein):  

        The
"Act." The Securities Act of 1933, as amended.  

        The
"Commission." The Securities and Exchange Commission.  

        The
"Company." Security With Advanced Technology, Inc.  

        “Common
Stock.”  The Company’s Common Stock. 

        "Current
Market Price." The Current Market Price shall be determined as follows:  

	 	        (a)  
if the security at issue is listed on a national securities                exchange or
admitted to  unlisted trading privileges on such an                exchange or quoted on
either the Global Market, Global Select  Market                or the Capital Market of
the automated quotation service operated by The Nasdaq                Stock Market,  Inc.
(“Nasdaq”), the current value shall be                the last reported sale
price of that security on such  exchange or                system on the day for which
the Current Market Price is to be determined or, if                no such sale  is made
on such day, the average of the highest closing                bid and lowest asked price
for such day on such  exchange or system;                or  

	 	        (b)  
if the security at issue is not so listed or quoted or admitted                to
unlisted trading  privileges, the Current Market Value shall be                the
average of the last reported highest bid and lowest  asked prices                quoted
on the Nasdaq Electronic Bulletin Board, or, if not so quoted, then by                the
National  Quotation Bureau, Inc. on the last business day prior                to the day
for which the Current Market Price is  to be determined;                or  

	 	        (c)  
if the security at issue is not so listed or quoted or admitted                to
unlisted trading  privileges and bid and asked prices are not                reported,
the current market value shall be determined in  such                reasonable manner as
may be prescribed from time to time by the Board of                Directors of the
Company,  subject to the objection and arbitration                procedure as described
in Section 7 below.  

        “Expiration
Date.” March 26, 2011. 

        “Holder
” or “Warrantholder.” The person to whom this Warrant is issued, and
any valid transferee thereof pursuant to Section 3.1 below.  

        "NASD."
The National Association of Securities Dealers, Inc.  

        "Nasdaq."
The automated quotation system operated by the Nasdaq Stock Market, Inc.  

        “Person”means
any individual, sole proprietorship, partnership, joint venture, trust, incorporated
 organization, association, corporation, limited liability company, institution, public
benefit corporation,  entity or government (whether federal, state, county, city,
municipal or otherwise, including, without limitation, any instrumentality, division,
agency, body or department thereof).  

        “Termination
of Business.” Any sale, lease or exchange of all, or substantially all, of the
Company’s  assets or business or any dissolution, liquidation or winding up of the
Company.  

        “Warrants.”The
warrants issued in accordance with the terms of this Agreement and any Warrants issued in
substitution for or replacement of such warrants, including those evidenced by a
certificate or certificates originally issued or issued upon division, exchange,
substitution or transfer pursuant to this Agreement.  

        “Warrant
Securities.” The Common Stock purchasable upon exercise of a Warrant including
the Common Stock underlying unexercised portions of a Warrant.  

        Section
2.         Term of Warrants; Exercise of Warrant. 

        2.1.       
Exercise
of Warrant. Subject to the terms of this Agreement, the Holder shall have the
right, at any time beginning on September 26, 2007 prior to 5:00 p.m.,
Mountain Time, on the Expiration Date, to purchase from the Company up to the
number of fully paid and nonassessable Shares to which the Holder may at the
time be entitled to purchase pursuant to this Agreement, upon surrender to the
Company, at its principal office, of the Warrant to be exercised, together with
the purchase form, attached hereto as Exhibit 1, duly filled in and signed, and
upon payment to the Company of the Exercise Price for the number of Shares in
respect of which such Warrants are then exercised, but in no event for less
than 100 Shares (unless fewer than an aggregate of 100 shares are then
purchasable under all outstanding Warrants held by a Holder).  

        2.2.        Exercise
Price. The exercise price (“Exercise Price”) is $4.75 per Share, as
modified in accordance with Section 4, below.  

        2.3.       
Issuance
of Shares. Upon such surrender of the Warrants and payment of such Exercise
Price as aforesaid, the Company shall issue and cause to be delivered within
three business days to or upon the written order of the Holder and in such name
or names as the Holder may designate, a certificate or certificates for the
number of full Shares so purchased upon the exercise of the Warrant, together
with cash, as provided in Section 13 hereof, in respect of any fractional
Shares otherwise issuable upon such surrender. If this Warrant shall have been
exercised in part, the Company shall, at the time of delivery of the
certificate or certificates representing Warrant Securities, deliver to the
Holder a new Warrant evidencing the rights of the Holder to purchase the
unpurchased Warrant Securities called for by this Warrant, which new Warrant
shall in all other respects be identical with this Warrant, or at the request
of the Holder, appropriate notation may be made on this Warrant and the same
returned to the Holder.  

        2.4.       Effect
of Exercise. Upon receipt of the Warrant by the           Company as described in
Sections 2.1 above, the Holder shall be deemed to be the           holder of record of
the Shares issuable upon such exercise, notwithstanding that           the transfer books
of the Company may then be closed or that certificates           representing such Shares
may not have been prepared or actually delivered to the           Holder.  

        2.5      
Restrictions on Exercise Amount. 

         (i)       
          Unless Vision Opportunity Master Fund, Ltd. (“Vision”) delivers
          to the Company irrevocable written notice prior to the date of issuance hereof
          or sixty-one days prior to the effective date of such notice that this Section
          2.5(i) shall not apply to Vision, Vision may not acquire a number of shares of
          Common Stock upon exercise of this Warrant to the extent that, upon such
          exercise, the number of shares of Common Stock then beneficially owned by such
          holder and its affiliates and any other persons or entities whose beneficial
          ownership of Common Stock would be aggregated with Vision’s for purposes of
          Section 13(d) of the Exchange Act (including shares held by any
          “group” of which the holder is a member, but excluding shares
          beneficially owned by virtue of the ownership of securities or rights to acquire
          securities that have limitations on the right to convert, exercise or purchase
          similar to the limitation set forth herein) exceeds 9.99% of the total number of
          shares of Common Stock of the Company then issued and outstanding. For purposes
          hereof, “group” has the meaning set forth in Section 13(d) of the
          Exchange Act and applicable regulations of the Commission, and the percentage
          held by Vision shall be determined in a manner consistent with the provisions of
          Section 13(d) of the Securities Exchange Act of 1934, as amended. Each delivery
          of a notice of exercise by Vision will constitute a representation by Vision
          that it has evaluated the limitation set forth in this paragraph and determined,
          based on the most recent public filings by the Company with the Commission, that
          the issuance of the full number of shares of Common Stock requested in such
          notice of exercise is permitted under this paragraph. 

        (ii)                 In
the event the Company is prohibited from issuing shares of Warrant Stock           as a
result of any restrictions or prohibitions under applicable law or the           rules or
regulations of any stock exchange, interdealer quotation system or           other
self-regulatory organization, the Company shall as soon as possible seek           the
approval of its stockholders and take such other action to authorize the
          issuance of the full number of shares of Common Stock issuable upon exercise of
          this Warrant.  

        Section
3.         Transferability and Form of Warrant 

        3.1.        Limitation
on Transfer. Any assignment or transfer of a Warrant shall be made by the
presentation and surrender of the Warrant to the Company at its principal
office or the office of its transfer agent, if any, accompanied by a duly
executed Assignment Form. Upon the presentation and surrender of these items to
the Company, the Company, at its sole expense, shall execute and deliver to the
new Holder or Holders a new Warrant or Warrants, in the name of the new Holder
or Holders as named in the Assignment Form, and the Warrant presented or
surrendered shall at that time be canceled.  

        3.2.       Exchange
of Certificate. Any Warrant may be           exchanged for another certificate or
certificates entitling the Warrantholder to           purchase a like aggregate number of
Shares as the certificate or certificates           surrendered then entitled such
Warrantholder to purchase. Any Warrant holder           desiring to exchange a Warrant
shall make such request in writing delivered to           the Company, and shall
surrender, properly endorsed, with signatures guaranteed,           the certificate
evidencing the Warrant to be so exchanged. Thereupon, the           Company shall execute
and deliver to the person entitled thereto a new Warrant           as so requested.  

        3.3.       Mutilated,
Lost, Stolen, or Destroyed Certificate. In           case the certificate or
certificates evidencing the Warrants shall be mutilated,           lost, stolen or
destroyed, the Company shall, at the request of the           Warrantholder, issue and
deliver in exchange and substitution for and upon           cancellation of the mutilated
certificate or certificates, or in lieu of and           substitution for the certificate
or certificates lost, stolen or destroyed, a           new Warrant or certificates of
like tenor and representing an equivalent right           or interest, but only upon
receipt of evidence satisfactory to the Company of           such loss, theft or
destruction of such Warrant and a bond of indemnity, if           requested, also
satisfactory in form and amount, at the applicant’s cost.           Applicants for
such substitute Warrant shall also comply with such other           reasonable
regulations and pay such other reasonable charges as the Company may           prescribe.  

        Section
4.         Adjustment of Number of Shares. 

        The
number and kind of securities purchasable upon the exercise of the Warrants and the
Warrant Price shall be subject to adjustment from time to time upon the happening of
certain events, as follows:  

        4.1.        Adjustments.
The number of Shares purchasable upon the exercise of the Warrants shall be
subject to adjustments as follows:  

	 	        (a)                      In
case the Company shall (i) pay a dividend in Common Stock or make a
               distribution to its  stockholders in Common Stock, (ii) subdivide its
               outstanding Common Stock, (iii) combine its outstanding  Common Stock
               into a smaller number of shares of Common Stock, or (iv) issue by
               reclassification of its  Common Stock other securities of the
               Company, the number of Shares purchasable upon exercise of the
               Warrants immediately prior thereto shall be adjusted so that the Warrant
               holder shall be entitled to  receive the kind and number of Shares or
               other securities of the Company which it would have owned or  would
               have been entitled to receive immediately after the happening of any of
the                events described  above, had the Warrants been exercised immediately
               prior to the happening of such event or any record  date with respect
               thereto. Any adjustment made pursuant to this subsection 4.1(a) shall
become                 effective immediately after the effective date of such event
               retroactive to the record date, if any, for  such event.  

	 	        (b)                      No
adjustment in the number of Shares purchasable pursuant to the Warrants shall
               be  required unless such adjustment would require an increase or
               decrease of at least one percent in the  number of Shares then
               purchasable upon the exercise of the Warrants or, if the Warrants are not
then                 exercisable, the number of Shares purchasable upon the exercise of
               the Warrants on the first date  thereafter that the Warrants become
               exercisable; provided, however, that any adjustments which by reason
               of this subsection 4.1(b) are not required to be made immediately shall be
               carried forward and taken  into account in any subsequent adjustment.  

	 	        (c)                      Whenever
the number of Shares purchasable upon the exercise of the Warrant is
               adjusted, as  herein provided, the Exercise Price payable upon
               exercise of the Warrant shall be adjusted by  multiplying such
               Exercise Price immediately prior to such adjustment by a fraction, of
which the                 numerator shall be the number of Warrant Shares purchasable
upon the                exercise of the Warrant immediately  prior to such adjustment,
and of                which the denominator shall be the number of Warrant Shares so
               purchasable immediately thereafter.  

	 	        (d)                      Whenever
the number of Shares purchasable upon exercise of the Warrants is                adjusted
as  herein provided, the Company shall cause to be promptly                mailed to the
Warrantholder by first class mail,  postage prepaid,                notice of such
adjustment and a certificate of the chief financial officer of                the
 Company setting forth the number of Shares purchasable upon the                exercise
of the Warrants after such  adjustment, a brief statement of                the facts
requiring such adjustment and the computation by which such                adjustment was
made.  

	 	        (e)                      For
the purpose of this Section 4.1, the term “Common Stock” shall
               mean (i) the class of  stock designated as the Common Stock of the
               Company at the date of this Agreement, or (ii) any other  class of
               stock resulting from successive changes or reclassifications of such
Common                Stock consisting  solely of changes in par value, or from par value
               to no par value, or from no par value to par value.  In the event
               that at any time, as a result of an adjustment made pursuant to this
Section 4,                the  Warrantholder shall become entitled to purchase any
securities                of the Company other than Common Stock,  (y) if the
               Warrantholder’s right to purchase is on any other basis than that
available                to all holders of  the Company’s Common Stock, the Company
shall                obtain an opinion of an independent investment banking  firm valuing
               such other securities and (z) thereafter the number of such other
securities so                purchasable  upon exercise of the Warrants shall be subject
to                adjustment from time to time in a manner and on terms  as nearly
               equivalent as practicable to the provisions with respect to the Shares
contained                in this  Section (4.)  

        4.2.       No
Adjustment for Dividends. Except as provided in Section 4.1, no adjustment in respect
of any dividends or distributions out of earnings shall be made during the term of the
Warrants or upon the exercise of the Warrants.  

        4.3.        Preservation
of Purchase Rights upon Reclassification, Consolidation, etc.  In case the
Company after the original issue date of this Warrant shall do any of the
following (each, a “Triggering Event”): (a) consolidate or merge with
or into any other Person and the Company shall not be the continuing or
surviving legal entity as a result of such consolidation or merger, (b) permit
any other Person to consolidate with or merge into the Company and the Company
shall be the continuing or surviving Person but, in connection with such
consolidation or merger, any Common Stock of the Company shall be changed into
or exchanged for securities of any other Person or cash or any other property,
(c) transfer all or substantially all of its properties or assets to any other
Person, or (d) effect a capital reorganization or reclassification of its
Common Stock(,) then, and in the case of each such Triggering Event, proper
provision shall be made so that, upon the basis and the terms and in the manner
provided in this Warrant, the Holder of this Warrant shall be entitled upon the
exercise hereof at any time after the consummation of such Triggering Event, to
the extent this Warrant is not exercised prior to such Triggering Event, to
receive at the Exercise Price in effect at the time immediately prior to the
consummation of such Triggering Event in lieu of the Common Stock issuable upon
such exercise of this Warrant prior to such Triggering Event, the securities,
cash and property to which such Holder would have been entitled upon the
consummation of such Triggering Event if such Holder had exercised the rights
represented by this Warrant immediately prior thereto (including the right of a
shareholder to elect the type of consideration it will receive upon a
Triggering Event), subject to adjustments (subsequent to such corporate action)
as nearly equivalent as possible to the adjustments provided for elsewhere in
this Section 4; provided, however, (A) (1) upon the consummation of a
Triggering Event described in clauses (a), (b) or (c) of the definition thereof
(but not clause (d) of such definition) in which the consideration payable
consists of cash or (2) upon the consummation of a Triggering Event described
in clauses (a), (b) or (c) of the definition thereof (but not clause (d) of
such definition) in which the consideration payable consists of securities of a
surviving entity that is not a public company with such securities registered
pursuant to the Securities Exchange Act of 1934, as amended, or such securities
are not listed or quoted on a national securities exchange, national automated
quotation system or the OTC Bulletin Board, then in either case the Holder at
its option may(,) instead of receiving such consideration to which such Holder
would have been entitled upon exercise of this Warrant, elect to receive an
amount in cash upon consummation of such Triggering Event equal to the value of
this Warrant immediately prior to the consummation of such Triggering Event
calculated in accordance with the Black-Scholes formula or (B) upon the
consummation of a Triggering Event described in clauses (a), (b) or (c) of the
definition thereof (but not clause (d) of such definition) in which the
consideration payable does not trigger clause (A) of this sentence, the Holder
at its option may(,) instead of receiving the consideration to which such
Holder would have been entitled upon exercise of this Warrant, elect to receive
an amount of such consideration with a value upon consummation of such
Triggering Event equal to the value of this Warrant immediately prior to the
consummation of such Triggering Event calculated in accordance with the
Black-Scholes formula. The provisions of this Section (4.)(3) shall similarly
apply to successive Triggering Events, but the payment of any Black-Scholes
amount pursuant to the foregoing sentence shall result in the termination of
this Warrant(.)  

        4.4.       
Par
Value of Shares of Common Stock.  Before taking any action which would cause an
adjustment effectively reducing the portion of the Exercise Price allocable to
each Share below the par value per share of the Common Stock issuable upon
exercise of the Warrants, the Company will take any corporate action which may,
in the opinion of its counsel, be necessary in order that the Company may
validly and legally issue fully paid and nonassessable Common Stock upon
exercise of the Warrants.  

        4.5.       Independent
Public Accountants. The Company may retain a           firm of independent public
accountants of recognized national standing (which           may be any such firm
regularly employed by the Company) to make any computation           required under this
Section 4, and a certificate signed by such firm shall be           conclusive evidence
of the correctness of any computation made under this           Section (4.)  

        4.6.        Treasury
Stock. For purposes of this Section 4, shares of Common Stock owned or held at
any relevant time by, or for the account of, the Company, in its treasury or
otherwise, shall not be deemed to be outstanding for purposes of the
calculations and adjustments described.  

        Section
5.        Payment of Exercise Price 

        The
payment of the Exercise Price shall be made in cash or by check or any combination
thereof.  

        Section
6.        Notice to Holders.  

        If,
prior to the expiration of this Warrant either by its terms or by its exercise in full,
any of the following shall occur:  

        (a)       
the Company shall declare a dividend or authorize any           other distribution on its
Common Stock;  

        (b)       
the Company shall authorize the granting to the           shareholders of its Common
Stock of rights to subscribe for or purchase any           securities or any other
similar rights;  

        (c)       
any reclassification, reorganization or similar           change of the Common Stock, or
any consolidation or merger to which the Company           is a party, or the sale,
lease, or exchange of any significant portion of the           assets of the Company;  

        (d)                 the
voluntary or involuntary dissolution, liquidation or winding up of the           Company;
or  

        (e)       
any purchase, retirement or redemption by the Company           of its Common Stock;  

then, and in any such case, the
Company shall deliver to the Holder or Holders written notice thereof at least 30 days
prior to the earliest applicable date specified below with respect to which notice is to
be given, which notice shall state the following: 

        (x)       
the date on which a record is to be taken for the           purpose of such dividend,
distribution or rights, or, if a record is not to be           taken, the date as of
which the shareholders of Common Stock of record to be           entitled to such
dividend, distribution or rights are to be determined;  

        (y)       
the date on which such reclassification,           reorganization, consolidation, merger,
sale, transfer, dissolution, liquidation,           winding up or purchase, retirement or
redemption is expected to become           effective, and the date, if any, as of which
the Company’s shareholders of           Common Stock of record shall be entitled to
exchange their Common Stock for           securities or other property deliverable upon
such reclassification,           reorganization, consolidation, merger, sale, transfer,
dissolution, liquidation,           winding up, purchase, retirement or redemption; and  

        (z)       
if any matters referred to in the foregoing clauses           (x) and (y) are to be voted
upon by shareholders of Common Stock, the date as of           which those shareholders
to be entitled to vote are to be determined.  

         Section
7.        Officers’ Certificate. 

        Whenever
the Exercise Price or the aggregate number of Warrant Securities purchasable pursuant to
this Warrant shall be adjusted as required by the provisions of Section 4 above, the
Company shall promptly file with its Secretary or an Assistant Secretary at its principal
office, and with its transfer agent, if any, an officers’ certificate executed by
the Company’s President and Secretary or Assistant Secretary, describing the
adjustment and setting forth, in reasonable detail, the facts requiring such adjustment
and the basis for and calculation of such adjustment in accordance with the provisions of
this Warrant. Each such officers’ certificate shall be made available to the Holder
or Holders of this Warrant for inspection at all reasonable times, and the Company, after
each such adjustment, shall promptly deliver a copy of the officers’ certificate
relating to that adjustment to the Holder or Holders of this Warrant. Failure to prepare
or provide the officers’ certificate shall not modify the parties’ rights
hereunder.  

        Section
8.         Reservation of Warrant Securities.  

        There
has been reserved, and the Company shall at all times keep reserved so long as the
Warrants remain outstanding, out of its authorized and unissued Common Stock, such number
of shares of Common Stock as shall be subject to purchase under the Warrants. Every
transfer agent for the Common Stock and other securities of the Company issuable upon the
exercise of the Warrants will be irrevocably authorized and directed at all times to
reserve such number of authorized shares and other securities as shall be requisite for
such purpose. The Company will keep a copy of this Agreement on file with every transfer
agent for the Common Stock and other securities of the Company issuable upon the exercise
of the Warrants. The Company will supply every such transfer agent with duly executed
stock and other certificates, as appropriate, for such purpose and will provide or
otherwise make available any cash which may be payable as provided in Section 14 hereof.  

        Section
9.        Restrictions on Transfer; Registration Rights. 

        9.1.       Restrictions
on Transfer. The Warrantholder agrees that           prior to making any disposition
of the Warrants, the Warrantholder shall give           written notice to the Company
describing briefly the manner in which any such           proposed disposition is to be
made; and no such disposition shall be made if the           Company has notified the
Warrantholder that in the opinion of counsel reasonably           satisfactory to the
Warrantholder, there is no applicable exemption from the           registration
requirements under the Act available for the disposition, and a           registration
statement or other notification or post-effective amendment thereto
          (hereinafter collectively a “Registration Statement”) under the Act
is           required with respect to such disposition and no such Registration Statement
has           been filed by the Company with, and declared effective, if necessary, by,
the           Commission.  

        9.2.       
Registration Right. The Warrant Securities are subject to the terms of a Registration
Rights Agreement. Upon request, a copy of the Registration Rights Agreement is available,
without charge, from the Company.  

        Section
10.        Payment of Taxes. 

        The
Company will pay all documentary stamp taxes, if any, attributable to the initial
issuance of the Warrants or the securities comprising the Shares; provided, however, the
Company shall not be required to pay any tax which may be payable in respect of any
transfer of the Warrants or the securities comprising the Shares.  

        Section
11.        Transfer to Comply With the Securities Act of (1933) 

        This
Warrant, the Warrant Securities, and all other securities issued or issuable upon
exercise of this Warrant, may not be offered, sold or transferred, in whole or in part,
except in compliance with the Act, and except in compliance with all applicable state
securities laws. The Company may cause substantially the following legends, or their
equivalents, to be set forth on each certificate representing the Warrant Securities, or
any other security issued or issuable upon exercise of this Warrant, not theretofore
distributed to the public or sold to underwriters, as defined by the Act, for
distribution to the public pursuant to Section 8 above:  

        (a)                 “THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER           THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE
          ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT UNLESS, IN THE
          OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH REGISTRATION IS
          NOT REQUIRED.” 

        (b)                 Any
legend required by applicable state securities laws.  

        Any
certificate issued at any time in exchange or substitution for any certificate bearing
such legends (except a new certificate issued upon completion of a public distribution
pursuant to a registration statement under the Act), or the securities represented
thereby) shall also bear the above legends unless, in the opinion of the Company’s
counsel, the securities represented thereby need no longer be subject to such
restrictions.  

        Section
12.        Fractional Shares 

        No
fractional shares or scrip representing fractional shares shall be issued upon the
exercise of all or any part of this Warrant. With respect to any fraction of a share of
any security called for upon any exercise of this Warrant, the Company shall pay to the
Holder an amount in money equal to that fraction multiplied by the Current Market Price
of that share.  

        Section
13.         No Rights as Stockholder; Notices to Warrantholder.  

        This
Warrant does not entitle the Holder to any voting or other rights as a stockholder of the
Company prior to exercise and payment for the Exercise Price in accordance with the terms
hereof. The Company covenants, however, that for so long as this Warrant is at least
partially unexercised, it will furnish any Holder of this Warrant with copies of all
reports and communications furnished to the shareholders of the Company. In addition, if
at any time prior to the expiration of the Warrants and prior to their exercise, any one
or more of the following events shall occur:  

	 	        (a)                      any
action which would require an adjustment pursuant to Section 4.1 or 4.3;
               or  

	 	        (b)                      a
dissolution, liquidation, or winding up of the Company (other than in
               connection with a  consolidation, merger, or sale of its property,
               assets, and business as an entirety or substantially as  an entirety)
               shall be proposed:  

        then
the Company shall give notice in writing of such event to the Warrantholder, as provided
in Section (1)(6) hereof, at least 20 days prior to the date fixed as a record date or
the date of closing the transfer books for the determination of the stockholders entitled
to any relevant dividend, distribution, subscription rights or other rights or for the
determination of stockholders entitled to vote on such proposed dissolution, liquidation,
or winding up. Such notice shall specify such record date or the date of closing the
transfer books, as the case may be. Failure to mail or receive notice or any defect
therein shall not affect the validity of any action taken with respect thereto.  

        Section
14.        Charges Due Upon Exercise. 

        The
Company shall pay any and all issue or transfer taxes, including, but not limited to, all
federal or state taxes, that may be payable with respect to the transfer of this Warrant
or the issue or delivery of Warrant Securities upon the exercise of this Warrant.  

        Section
15.         Warrant Securities to be Fully Paid  

        The
Company covenants that all Warrant Securities that may be issued and delivered to a
Holder of this Warrant upon the exercise of this Warrant and payment of the Exercise
Price will be, upon such delivery, validly and duly issued, fully paid and nonassessable.  

        Section
16.         Notices 

        Any
notice pursuant to this Agreement by the Company or by a Warrantholder or a holder of
Shares shall be in writing and shall be deemed to have been effectively upon personal
delivery to the party to be notified upon deposit with the United States Post Office, by
registered or certified mail, postage prepaid and addressed:  

        (i)                 If
to a Warrantholder or a holder of Shares, addressed to the address set           forth
above.  

        (ii)                 If
to the Company addressed to it at 10855 Dover Street, Suite 1100,           Westminster,
Colorado 80021, Attention: Secretary.  

        Each
party may from time to time change the address to which notices to it are to be delivered
or mailed hereunder by notice in accordance herewith to the other party.  

        Section
17.         Merger or Consolidation of the Company. 

        The
Company will not merge or consolidate with or into any other corporation or sell all or
substantially all of its property to another corporation, unless the provisions of
Section 4.3 are complied with.  

        Section
18.         Applicable Law 

        This
Warrant shall be governed by and construed in accordance with the laws of the State of
Colorado.  

        Section
19.        Arbitration. 

        The
Company and the Holder, and by receipt of this Warrant or any Warrant Securities, all
subsequent Holders or holders of Warrant Securities, agree to submit all controversies,
claims, disputes and matters of difference with respect to this Warrant, including,
without limitation, the application of this Section 19 to arbitration in Denver,
Colorado, according to the rules and practices of the American Arbitration Association
from time to time in force; provided, however, that if such rules and practices conflict
with the applicable procedures of Colorado courts of general jurisdiction or any other
provisions of Colorado law then in force, those Colorado rules and provisions shall
govern. This agreement to arbitrate shall be specifically enforceable.  Arbitration
may proceed in the absence of any party if notice of the proceeding has been given to
that party. The parties agree to abide by all awards rendered in any such proceeding.
These awards shall be final and binding on all parties to the extent and in the manner
provided by the rules of civil procedure enacted in Colorado. All awards may be filed,
as a basis of judgment and of the issuance of execution for its collection, with the
clerk of one or more courts, state or federal, having jurisdiction over either the party
against whom that award is rendered or its property. No party shall be considered in
default hereunder during the pendency of arbitration proceedings relating to that
default.  

        Section
20.        Acceptance of Terms; Successors. 

        By
its acceptance of this Warrant Certificate, the Holder accepts and agrees to comply with
all of the terms and provisions hereof. All the covenants and provisions of this Warrant
Certificate by or for the benefit of the Company or the Holder shall bind and inure to
the benefit of their respective successors and assigns hereunder.  

        Section
21.         Miscellaneous Provisions 

        (a)                 Subject
to the terms and conditions contained herein, this Warrant shall be           binding on
the Company and its successors and shall inure to the benefit of the           original
Holder, its successors and assigns and all holders of Warrant           Securities and
the exercise of this Warrant in full shall not terminate the           provisions of this
Warrant as it relates to holders of Warrant Securities.  

        (b)                  If
the Company fails to perform any of its obligations hereunder, it           shall be
liable to the Holder for all damages, costs and expenses resulting from           the
failure, including, but not limited to, all reasonable attorney’s fees           and
disbursements.  

        (c)                 This
Warrant cannot be changed or terminated or any performance or           condition waived
in whole or in part except by an agreement in writing signed by           the party
against whom enforcement of the change, termination or waiver is           sought;
provided, however, that any provisions hereof may be amended, waived,
          discharged or terminated upon the written consent of the Company and the
          Holder(.)  

        (d)                  If
any provision of this Warrant shall be held to be invalid,           illegal or
unenforceable, such provision shall be severed, enforced to the           extent
possible, or modified in such a way as to make it enforceable, and the
          invalidity, illegality or unenforceability shall not affect the remainder of
          this Warrant.  

        (e)                 The
Company agrees to execute such further agreements, conveyances,           certificates
and other documents as may be reasonably requested by the Holder to           effectuate
the intent and provisions of this Warrant.  

        (f)                 Paragraph
headings used in this Warrant are for convenience only and shall           not be taken
or construed to define or limit any of the terms or provisions of           this Warrant.
Unless otherwise provided, or unless the context shall otherwise           require, the
use of the singular shall include the plural and the use of any           gender shall
include all genders.  

		
	Dated:   March 26,  2007
	SECURITY WITH ADVANCED TECHNOLOGY, INC.

By: _______________________________________                                    

      Jeffrey G. McGonegal

      Chief Financial Officer

EXHIBIT 1  

PURCHASE FORM  

Dated  
            
          ,  

        The
undersigned hereby irrevocably elects to exercise the Warrant represented by this Warrant
Certificate to the extent of purchasing _______________________
                      Shares of Security With Advanced Technology, Inc., and hereby
tenders payment of the exercise price thereof. 

INSTRUCTIONS FOR
REGISTRATION OF STOCK  

	 	
Name  

(please type or print
in block letters) 

	 	
Address  

ASSIGNMENT FORM  

        FOR
VALUE RECEIVED, __________________________________                                  ,
hereby sells, assigns and transfers unto 

	 	
Name  

(please type or print
in block letters) 

	 	
Address  

the right to purchase  Shares of
Security  With  Advanced  Technology,  Inc. (the  "Company")  represented  by this
Warrant  Certificate to the extent of _________ Shares as to which such right is
exercisable and does hereby irrevocably constitute and appoint
  ___________________________                    attorney,  to transfer  the same on the
books of the Company with full power of substitution in the premises. 

	 	
Signature
_________________________________            Dated __________________  

Notice: the signature on this
assignment must correspond with the name as it appears upon the face of this
Warrant Certificate in every particular, without alteration or enlargement or any change
whatever.Exhibit 4.3 

This Warrant and the underlying
shares of Common Stock represented by this Certificate have not been registered under the
Securities Act of 1933 (the “Act”), and are “restricted securities” as
that term is defined in Rule 144 under the Act. The securities may not be offered for
sale, sold or otherwise transferred except pursuant to an effective registration statement
under the Act, or pursuant to an exemption from registration under the Act, the
availability of which is to be established to the reasonable satisfaction of the Company. 

Warrant No. B-2007-__ 

WARRANT TO PURCHASE
SHARES OF COMMON STOCK

Warrant to Purchase
[__________] Shares 
(subject to adjustment
as set forth herein) 

Exercise Price $5.00 Per
Share 
(subject to adjustment
as set forth herein) 

VOID AFTER 5:00 P.M.,
MOUNTAIN TIME, ON MARCH 26, 2011 

        THIS
CERTIFIES THAT [________________________________________________________] is
entitled to purchase from Security With Advanced Technology, Inc., a Colorado corporation
(hereinafter called the “Company”), with its principal office located at 10855
Dover Street, Suite 1100, Westminster, Colorado 80021, at any time beginning on
September 26, 2007 but before 5:00 P.M., Mountain Time, on March 26, 2011, at the
purchase price of $5.00 per share (the “Exercise Price”), the number of shares
(the “Shares”) of the Company’s Common Stock (the “Common Stock”)
set forth above. The number of Shares purchasable upon exercise of this Warrant and the
Exercise Price per Share shall be subject to adjustment from time to time as set forth in
Section 4 below. 

        Section
1.        Definitions.  

        The
following terms used in this agreement (this “Agreement”) shall have the
following meanings (unless otherwise expressly provided herein):  

        The
"Act." The Securities Act of 1933, as amended.  

        The
"Commission." The Securities and Exchange Commission.  

        The
"Company." Security With Advanced Technology, Inc.  

        “Common
Stock.”  The Company’s Common Stock. 

        "Current
Market Price." The Current Market Price shall be determined as follows:  

	 	        (a)  
if the security at issue is listed on a national securities                exchange or
admitted to  unlisted trading privileges on such an                exchange or quoted on
either the Global Market, Global Select  Market                or the Capital Market of
the automated quotation service operated by The Nasdaq                Stock Market,  Inc.
(“Nasdaq”), the current value shall be                the last reported sale
price of that security on such  exchange or                system on the day for which
the Current Market Price is to be determined or, if                no such sale  is made
on such day, the average of the highest closing                bid and lowest asked price
for such day on such  exchange or system;                or  

	 	        (b)  
if the security at issue is not so listed or quoted or admitted                to
unlisted trading  privileges, the Current Market Value shall be                the
average of the last reported highest bid and lowest  asked prices                quoted
on the Nasdaq Electronic Bulletin Board, or, if not so quoted, then by                the
National  Quotation Bureau, Inc. on the last business day prior                to the day
for which the Current Market Price is  to be determined;                or  

	 	        (c)  
if the security at issue is not so listed or quoted or admitted                to
unlisted trading  privileges and bid and asked prices are not                reported,
the current market value shall be determined in  such                reasonable manner as
may be prescribed from time to time by the Board of                Directors of the
Company,  subject to the objection and arbitration                procedure as described
in Section 7 below.  

        “Expiration
Date.” March 26, 2011. 

        “Holder
” or “Warrantholder.” The person to whom this Warrant is issued, and
any valid transferee thereof pursuant to Section 3.1 below.  

        "NASD."
The National Association of Securities Dealers, Inc.  

        "Nasdaq."
The automated quotation system operated by the Nasdaq Stock Market, Inc.  

        “Person”means
any individual, sole proprietorship, partnership, joint venture, trust, incorporated
 organization, association, corporation, limited liability company, institution, public
benefit corporation,  entity or government (whether federal, state, county, city,
municipal or otherwise, including, without limitation, any instrumentality, division,
agency, body or department thereof).  

        “Termination
of Business.” Any sale, lease or exchange of all, or substantially all, of the
Company’s  assets or business or any dissolution, liquidation or winding up of the
Company.  

        “Warrants.”The
warrants issued in accordance with the terms of this Agreement and any Warrants issued in
substitution for or replacement of such warrants, including those evidenced by a
certificate or certificates originally issued or issued upon division, exchange,
substitution or transfer pursuant to this Agreement.  

        “Warrant
Securities.” The Common Stock purchasable upon exercise of a Warrant including
the Common Stock underlying unexercised portions of a Warrant.  

        Section
2.         Term of Warrants; Exercise of Warrant. 

        2.1.       
Exercise
of Warrant. Subject to the terms of this Agreement, the Holder shall have the
right, at any time beginning on September 26, 2007 prior to 5:00 p.m.,
Mountain Time, on the Expiration Date, to purchase from the Company up to the
number of fully paid and nonassessable Shares to which the Holder may at the
time be entitled to purchase pursuant to this Agreement, upon surrender to the
Company, at its principal office, of the Warrant to be exercised, together with
the purchase form, attached hereto as Exhibit 1, duly filled in and signed, and
upon payment to the Company of the Exercise Price for the number of Shares in
respect of which such Warrants are then exercised, but in no event for less
than 100 Shares (unless fewer than an aggregate of 100 shares are then
purchasable under all outstanding Warrants held by a Holder).  

        2.2.        Exercise
Price. The exercise price (“Exercise Price”) is $5.00 per Share, as
modified in accordance with Section 4, below.  

        2.3.       
Issuance
of Shares. Upon such surrender of the Warrants and payment of such Exercise
Price as aforesaid, the Company shall issue and cause to be delivered within
three business days to or upon the written order of the Holder and in such name
or names as the Holder may designate, a certificate or certificates for the
number of full Shares so purchased upon the exercise of the Warrant, together
with cash, as provided in Section 13 hereof, in respect of any fractional
Shares otherwise issuable upon such surrender. If this Warrant shall have been
exercised in part, the Company shall, at the time of delivery of the
certificate or certificates representing Warrant Securities, deliver to the
Holder a new Warrant evidencing the rights of the Holder to purchase the
unpurchased Warrant Securities called for by this Warrant, which new Warrant
shall in all other respects be identical with this Warrant, or at the request
of the Holder, appropriate notation may be made on this Warrant and the same
returned to the Holder.  

        2.4.       Effect
of Exercise. Upon receipt of the Warrant by the           Company as described in
Sections 2.1 above, the Holder shall be deemed to be the           holder of record of
the Shares issuable upon such exercise, notwithstanding that           the transfer books
of the Company may then be closed or that certificates           representing such Shares
may not have been prepared or actually delivered to the           Holder.  

        2.5      
Restrictions on Exercise Amount. 

         (i)       
          Unless Vision Opportunity Master Fund, Ltd. (“Vision”) delivers
          to the Company irrevocable written notice prior to the date of issuance hereof
          or sixty-one days prior to the effective date of such notice that this Section
          2.5(i) shall not apply to Vision, Vision may not acquire a number of shares of
          Common Stock upon exercise of this Warrant to the extent that, upon such
          exercise, the number of shares of Common Stock then beneficially owned by such
          holder and its affiliates and any other persons or entities whose beneficial
          ownership of Common Stock would be aggregated with Vision’s for purposes of
          Section 13(d) of the Exchange Act (including shares held by any
          “group” of which the holder is a member, but excluding shares
          beneficially owned by virtue of the ownership of securities or rights to acquire
          securities that have limitations on the right to convert, exercise or purchase
          similar to the limitation set forth herein) exceeds 9.99% of the total number of
          shares of Common Stock of the Company then issued and outstanding. For purposes
          hereof, “group” has the meaning set forth in Section 13(d) of the
          Exchange Act and applicable regulations of the Commission, and the percentage
          held by Vision shall be determined in a manner consistent with the provisions of
          Section 13(d) of the Securities Exchange Act of 1934, as amended. Each delivery
          of a notice of exercise by Vision will constitute a representation by Vision
          that it has evaluated the limitation set forth in this paragraph and determined,
          based on the most recent public filings by the Company with the Commission, that
          the issuance of the full number of shares of Common Stock requested in such
          notice of exercise is permitted under this paragraph. 

        (ii)                 In
the event the Company is prohibited from issuing shares of Warrant Stock           as a
result of any restrictions or prohibitions under applicable law or the           rules or
regulations of any stock exchange, interdealer quotation system or           other
self-regulatory organization, the Company shall as soon as possible seek           the
approval of its stockholders and take such other action to authorize the
          issuance of the full number of shares of Common Stock issuable upon exercise of
          this Warrant.  

        Section
3.         Transferability and Form of Warrant 

        3.1.        Limitation
on Transfer. Any assignment or transfer of a Warrant shall be made by the
presentation and surrender of the Warrant to the Company at its principal
office or the office of its transfer agent, if any, accompanied by a duly
executed Assignment Form. Upon the presentation and surrender of these items to
the Company, the Company, at its sole expense, shall execute and deliver to the
new Holder or Holders a new Warrant or Warrants, in the name of the new Holder
or Holders as named in the Assignment Form, and the Warrant presented or
surrendered shall at that time be canceled.  

        3.2.       Exchange
of Certificate. Any Warrant may be           exchanged for another certificate or
certificates entitling the Warrantholder to           purchase a like aggregate number of
Shares as the certificate or certificates           surrendered then entitled such
Warrantholder to purchase. Any Warrant holder           desiring to exchange a Warrant
shall make such request in writing delivered to           the Company, and shall
surrender, properly endorsed, with signatures guaranteed,           the certificate
evidencing the Warrant to be so exchanged. Thereupon, the           Company shall execute
and deliver to the person entitled thereto a new Warrant           as so requested.  

        3.3.       Mutilated,
Lost, Stolen, or Destroyed Certificate. In           case the certificate or
certificates evidencing the Warrants shall be mutilated,           lost, stolen or
destroyed, the Company shall, at the request of the           Warrantholder, issue and
deliver in exchange and substitution for and upon           cancellation of the mutilated
certificate or certificates, or in lieu of and           substitution for the certificate
or certificates lost, stolen or destroyed, a           new Warrant or certificates of
like tenor and representing an equivalent right           or interest, but only upon
receipt of evidence satisfactory to the Company of           such loss, theft or
destruction of such Warrant and a bond of indemnity, if           requested, also
satisfactory in form and amount, at the applicant’s cost.           Applicants for
such substitute Warrant shall also comply with such other           reasonable
regulations and pay such other reasonable charges as the Company may           prescribe.  

        Section
4.         Adjustment of Number of Shares. 

        The
number and kind of securities purchasable upon the exercise of the Warrants and the
Warrant Price shall be subject to adjustment from time to time upon the happening of
certain events, as follows:  

        4.1.        Adjustments.
The number of Shares purchasable upon the exercise of the Warrants shall be
subject to adjustments as follows:  

	 	        (a)                      In
case the Company shall (i) pay a dividend in Common Stock or make a
               distribution to its  stockholders in Common Stock, (ii) subdivide its
               outstanding Common Stock, (iii) combine its outstanding  Common Stock
               into a smaller number of shares of Common Stock, or (iv) issue by
               reclassification of its  Common Stock other securities of the
               Company, the number of Shares purchasable upon exercise of the
               Warrants immediately prior thereto shall be adjusted so that the Warrant
               holder shall be entitled to  receive the kind and number of Shares or
               other securities of the Company which it would have owned or  would
               have been entitled to receive immediately after the happening of any of
the                events described  above, had the Warrants been exercised immediately
               prior to the happening of such event or any record  date with respect
               thereto. Any adjustment made pursuant to this subsection 4.1(a) shall
become                 effective immediately after the effective date of such event
               retroactive to the record date, if any, for  such event.  

	 	        (b)                      No
adjustment in the number of Shares purchasable pursuant to the Warrants shall
               be  required unless such adjustment would require an increase or
               decrease of at least one percent in the  number of Shares then
               purchasable upon the exercise of the Warrants or, if the Warrants are not
then                 exercisable, the number of Shares purchasable upon the exercise of
               the Warrants on the first date  thereafter that the Warrants become
               exercisable; provided, however, that any adjustments which by reason
               of this subsection 4.1(b) are not required to be made immediately shall be
               carried forward and taken  into account in any subsequent adjustment.  

	 	        (c)                      Whenever
the number of Shares purchasable upon the exercise of the Warrant is
               adjusted, as  herein provided, the Exercise Price payable upon
               exercise of the Warrant shall be adjusted by  multiplying such
               Exercise Price immediately prior to such adjustment by a fraction, of
which the                 numerator shall be the number of Warrant Shares purchasable
upon the                exercise of the Warrant immediately  prior to such adjustment,
and of                which the denominator shall be the number of Warrant Shares so
               purchasable immediately thereafter.  

	 	        (d)                      Whenever
the number of Shares purchasable upon exercise of the Warrants is                adjusted
as  herein provided, the Company shall cause to be promptly                mailed to the
Warrantholder by first class mail,  postage prepaid,                notice of such
adjustment and a certificate of the chief financial officer of                the
 Company setting forth the number of Shares purchasable upon the                exercise
of the Warrants after such  adjustment, a brief statement of                the facts
requiring such adjustment and the computation by which such                adjustment was
made.  

	 	        (e)                      For
the purpose of this Section 4.1, the term “Common Stock” shall
               mean (i) the class of  stock designated as the Common Stock of the
               Company at the date of this Agreement, or (ii) any other  class of
               stock resulting from successive changes or reclassifications of such
Common                Stock consisting  solely of changes in par value, or from par value
               to no par value, or from no par value to par value.  In the event
               that at any time, as a result of an adjustment made pursuant to this
Section 4,                the  Warrantholder shall become entitled to purchase any
securities                of the Company other than Common Stock,  (y) if the
               Warrantholder’s right to purchase is on any other basis than that
available                to all holders of  the Company’s Common Stock, the Company
shall                obtain an opinion of an independent investment banking  firm valuing
               such other securities and (z) thereafter the number of such other
securities so                purchasable  upon exercise of the Warrants shall be subject
to                adjustment from time to time in a manner and on terms  as nearly
               equivalent as practicable to the provisions with respect to the Shares
contained                in this  Section (4.)  

        4.2.       No
Adjustment for Dividends. Except as provided in Section 4.1, no adjustment in respect
of any dividends or distributions out of earnings shall be made during the term of the
Warrants or upon the exercise of the Warrants.  

        4.3.        Preservation
of Purchase Rights upon Reclassification, Consolidation, etc.  In case the
Company after the original issue date of this Warrant shall do any of the
following (each, a “Triggering Event”): (a) consolidate or merge with
or into any other Person and the Company shall not be the continuing or
surviving legal entity as a result of such consolidation or merger, (b) permit
any other Person to consolidate with or merge into the Company and the Company
shall be the continuing or surviving Person but, in connection with such
consolidation or merger, any Common Stock of the Company shall be changed into
or exchanged for securities of any other Person or cash or any other property,
(c) transfer all or substantially all of its properties or assets to any other
Person, or (d) effect a capital reorganization or reclassification of its
Common Stock(,) then, and in the case of each such Triggering Event, proper
provision shall be made so that, upon the basis and the terms and in the manner
provided in this Warrant, the Holder of this Warrant shall be entitled upon the
exercise hereof at any time after the consummation of such Triggering Event, to
the extent this Warrant is not exercised prior to such Triggering Event, to
receive at the Exercise Price in effect at the time immediately prior to the
consummation of such Triggering Event in lieu of the Common Stock issuable upon
such exercise of this Warrant prior to such Triggering Event, the securities,
cash and property to which such Holder would have been entitled upon the
consummation of such Triggering Event if such Holder had exercised the rights
represented by this Warrant immediately prior thereto (including the right of a
shareholder to elect the type of consideration it will receive upon a
Triggering Event), subject to adjustments (subsequent to such corporate action)
as nearly equivalent as possible to the adjustments provided for elsewhere in
this Section 4; provided, however, (A) (1) upon the consummation of a
Triggering Event described in clauses (a), (b) or (c) of the definition thereof
(but not clause (d) of such definition) in which the consideration payable
consists of cash or (2) upon the consummation of a Triggering Event described
in clauses (a), (b) or (c) of the definition thereof (but not clause (d) of
such definition) in which the consideration payable consists of securities of a
surviving entity that is not a public company with such securities registered
pursuant to the Securities Exchange Act of 1934, as amended, or such securities
are not listed or quoted on a national securities exchange, national automated
quotation system or the OTC Bulletin Board, then in either case the Holder at
its option may(,) instead of receiving such consideration to which such Holder
would have been entitled upon exercise of this Warrant, elect to receive an
amount in cash upon consummation of such Triggering Event equal to the value of
this Warrant immediately prior to the consummation of such Triggering Event
calculated in accordance with the Black-Scholes formula or (B) upon the
consummation of a Triggering Event described in clauses (a), (b) or (c) of the
definition thereof (but not clause (d) of such definition) in which the
consideration payable does not trigger clause (A) of this sentence, the Holder
at its option may(,) instead of receiving the consideration to which such
Holder would have been entitled upon exercise of this Warrant, elect to receive
an amount of such consideration with a value upon consummation of such
Triggering Event equal to the value of this Warrant immediately prior to the
consummation of such Triggering Event calculated in accordance with the
Black-Scholes formula. The provisions of this Section (4.)(3) shall similarly
apply to successive Triggering Events, but the payment of any Black-Scholes
amount pursuant to the foregoing sentence shall result in the termination of
this Warrant(.)  

        4.4.       
Par
Value of Shares of Common Stock.  Before taking any action which would cause an
adjustment effectively reducing the portion of the Exercise Price allocable to
each Share below the par value per share of the Common Stock issuable upon
exercise of the Warrants, the Company will take any corporate action which may,
in the opinion of its counsel, be necessary in order that the Company may
validly and legally issue fully paid and nonassessable Common Stock upon
exercise of the Warrants.  

        4.5.       Independent
Public Accountants. The Company may retain a           firm of independent public
accountants of recognized national standing (which           may be any such firm
regularly employed by the Company) to make any computation           required under this
Section 4, and a certificate signed by such firm shall be           conclusive evidence
of the correctness of any computation made under this           Section (4.)  

        4.6.        Treasury
Stock. For purposes of this Section 4, shares of Common Stock owned or held at
any relevant time by, or for the account of, the Company, in its treasury or
otherwise, shall not be deemed to be outstanding for purposes of the
calculations and adjustments described.  

        Section
5.        Payment of Exercise Price 

        The
payment of the Exercise Price shall be made in cash or by check or any combination
thereof.  

        Section
6.        Notice to Holders.  

        If,
prior to the expiration of this Warrant either by its terms or by its exercise in full,
any of the following shall occur:  

        (a)       
the Company shall declare a dividend or authorize any           other distribution on its
Common Stock;  

        (b)       
the Company shall authorize the granting to the           shareholders of its Common
Stock of rights to subscribe for or purchase any           securities or any other
similar rights;  

        (c)       
any reclassification, reorganization or similar           change of the Common Stock, or
any consolidation or merger to which the Company           is a party, or the sale,
lease, or exchange of any significant portion of the           assets of the Company;  

        (d)                 the
voluntary or involuntary dissolution, liquidation or winding up of the           Company;
or  

        (e)       
any purchase, retirement or redemption by the Company           of its Common Stock;  

then, and in any such case, the
Company shall deliver to the Holder or Holders written notice thereof at least 30 days
prior to the earliest applicable date specified below with respect to which notice is to
be given, which notice shall state the following: 

        (x)       
the date on which a record is to be taken for the           purpose of such dividend,
distribution or rights, or, if a record is not to be           taken, the date as of
which the shareholders of Common Stock of record to be           entitled to such
dividend, distribution or rights are to be determined;  

        (y)       
the date on which such reclassification,           reorganization, consolidation, merger,
sale, transfer, dissolution, liquidation,           winding up or purchase, retirement or
redemption is expected to become           effective, and the date, if any, as of which
the Company’s shareholders of           Common Stock of record shall be entitled to
exchange their Common Stock for           securities or other property deliverable upon
such reclassification,           reorganization, consolidation, merger, sale, transfer,
dissolution, liquidation,           winding up, purchase, retirement or redemption; and  

        (z)       
if any matters referred to in the foregoing clauses           (x) and (y) are to be voted
upon by shareholders of Common Stock, the date as of           which those shareholders
to be entitled to vote are to be determined.  

         Section
7.        Officers’ Certificate. 

        Whenever
the Exercise Price or the aggregate number of Warrant Securities purchasable pursuant to
this Warrant shall be adjusted as required by the provisions of Section 4 above, the
Company shall promptly file with its Secretary or an Assistant Secretary at its principal
office, and with its transfer agent, if any, an officers’ certificate executed by
the Company’s President and Secretary or Assistant Secretary, describing the
adjustment and setting forth, in reasonable detail, the facts requiring such adjustment
and the basis for and calculation of such adjustment in accordance with the provisions of
this Warrant. Each such officers’ certificate shall be made available to the Holder
or Holders of this Warrant for inspection at all reasonable times, and the Company, after
each such adjustment, shall promptly deliver a copy of the officers’ certificate
relating to that adjustment to the Holder or Holders of this Warrant. Failure to prepare
or provide the officers’ certificate shall not modify the parties’ rights
hereunder.  

        Section
8.         Reservation of Warrant Securities.  

        There
has been reserved, and the Company shall at all times keep reserved so long as the
Warrants remain outstanding, out of its authorized and unissued Common Stock, such number
of shares of Common Stock as shall be subject to purchase under the Warrants. Every
transfer agent for the Common Stock and other securities of the Company issuable upon the
exercise of the Warrants will be irrevocably authorized and directed at all times to
reserve such number of authorized shares and other securities as shall be requisite for
such purpose. The Company will keep a copy of this Agreement on file with every transfer
agent for the Common Stock and other securities of the Company issuable upon the exercise
of the Warrants. The Company will supply every such transfer agent with duly executed
stock and other certificates, as appropriate, for such purpose and will provide or
otherwise make available any cash which may be payable as provided in Section 14 hereof.  

        Section
9.        Restrictions on Transfer; Registration Rights. 

        9.1.       Restrictions
on Transfer. The Warrantholder agrees that           prior to making any disposition
of the Warrants, the Warrantholder shall give           written notice to the Company
describing briefly the manner in which any such           proposed disposition is to be
made; and no such disposition shall be made if the           Company has notified the
Warrantholder that in the opinion of counsel reasonably           satisfactory to the
Warrantholder, there is no applicable exemption from the           registration
requirements under the Act available for the disposition, and a           registration
statement or other notification or post-effective amendment thereto
          (hereinafter collectively a “Registration Statement”) under the Act
is           required with respect to such disposition and no such Registration Statement
has           been filed by the Company with, and declared effective, if necessary, by,
the           Commission.  

        9.2.       
Registration Right. The Warrant Securities are subject to the terms of a Registration
Rights Agreement. Upon request, a copy of the Registration Rights Agreement is available,
without charge, from the Company.  

        Section
10.        Payment of Taxes. 

        The
Company will pay all documentary stamp taxes, if any, attributable to the initial
issuance of the Warrants or the securities comprising the Shares; provided, however, the
Company shall not be required to pay any tax which may be payable in respect of any
transfer of the Warrants or the securities comprising the Shares.  

        Section
11.        Transfer to Comply With the Securities Act of (1933) 

        This
Warrant, the Warrant Securities, and all other securities issued or issuable upon
exercise of this Warrant, may not be offered, sold or transferred, in whole or in part,
except in compliance with the Act, and except in compliance with all applicable state
securities laws. The Company may cause substantially the following legends, or their
equivalents, to be set forth on each certificate representing the Warrant Securities, or
any other security issued or issuable upon exercise of this Warrant, not theretofore
distributed to the public or sold to underwriters, as defined by the Act, for
distribution to the public pursuant to Section 8 above:  

        (a)                 “THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER           THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE
          ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT UNLESS, IN THE
          OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH REGISTRATION IS
          NOT REQUIRED.” 

        (b)                 Any
legend required by applicable state securities laws.  

        Any
certificate issued at any time in exchange or substitution for any certificate bearing
such legends (except a new certificate issued upon completion of a public distribution
pursuant to a registration statement under the Act), or the securities represented
thereby) shall also bear the above legends unless, in the opinion of the Company’s
counsel, the securities represented thereby need no longer be subject to such
restrictions.  

        Section
12.        Fractional Shares 

        No
fractional shares or scrip representing fractional shares shall be issued upon the
exercise of all or any part of this Warrant. With respect to any fraction of a share of
any security called for upon any exercise of this Warrant, the Company shall pay to the
Holder an amount in money equal to that fraction multiplied by the Current Market Price
of that share.  

        Section
13.         No Rights as Stockholder; Notices to Warrantholder.  

        This
Warrant does not entitle the Holder to any voting or other rights as a stockholder of the
Company prior to exercise and payment for the Exercise Price in accordance with the terms
hereof. The Company covenants, however, that for so long as this Warrant is at least
partially unexercised, it will furnish any Holder of this Warrant with copies of all
reports and communications furnished to the shareholders of the Company. In addition, if
at any time prior to the expiration of the Warrants and prior to their exercise, any one
or more of the following events shall occur:  

	 	        (a)                      any
action which would require an adjustment pursuant to Section 4.1 or 4.3;
               or  

	 	        (b)                      a
dissolution, liquidation, or winding up of the Company (other than in
               connection with a  consolidation, merger, or sale of its property,
               assets, and business as an entirety or substantially as  an entirety)
               shall be proposed:  

        then
the Company shall give notice in writing of such event to the Warrantholder, as provided
in Section (1)(6) hereof, at least 20 days prior to the date fixed as a record date or
the date of closing the transfer books for the determination of the stockholders entitled
to any relevant dividend, distribution, subscription rights or other rights or for the
determination of stockholders entitled to vote on such proposed dissolution, liquidation,
or winding up. Such notice shall specify such record date or the date of closing the
transfer books, as the case may be. Failure to mail or receive notice or any defect
therein shall not affect the validity of any action taken with respect thereto.  

        Section
14.        Charges Due Upon Exercise. 

        The
Company shall pay any and all issue or transfer taxes, including, but not limited to, all
federal or state taxes, that may be payable with respect to the transfer of this Warrant
or the issue or delivery of Warrant Securities upon the exercise of this Warrant.  

        Section
15.         Warrant Securities to be Fully Paid  

        The
Company covenants that all Warrant Securities that may be issued and delivered to a
Holder of this Warrant upon the exercise of this Warrant and payment of the Exercise
Price will be, upon such delivery, validly and duly issued, fully paid and nonassessable.  

        Section
16.         Notices 

        Any
notice pursuant to this Agreement by the Company or by a Warrantholder or a holder of
Shares shall be in writing and shall be deemed to have been effectively upon personal
delivery to the party to be notified upon deposit with the United States Post Office, by
registered or certified mail, postage prepaid and addressed:  

        (i)                 If
to a Warrantholder or a holder of Shares, addressed to the address set           forth
above.  

        (ii)                 If
to the Company addressed to it at 10855 Dover Street, Suite 1100,           Westminster,
Colorado 80021, Attention: Secretary.  

        Each
party may from time to time change the address to which notices to it are to be delivered
or mailed hereunder by notice in accordance herewith to the other party.  

        Section
17.         Merger or Consolidation of the Company. 

        The
Company will not merge or consolidate with or into any other corporation or sell all or
substantially all of its property to another corporation, unless the provisions of
Section 4.3 are complied with.  

        Section
18.         Applicable Law 

        This
Warrant shall be governed by and construed in accordance with the laws of the State of
Colorado.  

        Section
19.        Arbitration. 

        The
Company and the Holder, and by receipt of this Warrant or any Warrant Securities, all
subsequent Holders or holders of Warrant Securities, agree to submit all controversies,
claims, disputes and matters of difference with respect to this Warrant, including,
without limitation, the application of this Section 19 to arbitration in Denver,
Colorado, according to the rules and practices of the American Arbitration Association
from time to time in force; provided, however, that if such rules and practices conflict
with the applicable procedures of Colorado courts of general jurisdiction or any other
provisions of Colorado law then in force, those Colorado rules and provisions shall
govern. This agreement to arbitrate shall be specifically enforceable.  Arbitration
may proceed in the absence of any party if notice of the proceeding has been given to
that party. The parties agree to abide by all awards rendered in any such proceeding.
These awards shall be final and binding on all parties to the extent and in the manner
provided by the rules of civil procedure enacted in Colorado. All awards may be filed,
as a basis of judgment and of the issuance of execution for its collection, with the
clerk of one or more courts, state or federal, having jurisdiction over either the party
against whom that award is rendered or its property. No party shall be considered in
default hereunder during the pendency of arbitration proceedings relating to that
default.  

        Section
20.        Acceptance of Terms; Successors. 

        By
its acceptance of this Warrant Certificate, the Holder accepts and agrees to comply with
all of the terms and provisions hereof. All the covenants and provisions of this Warrant
Certificate by or for the benefit of the Company or the Holder shall bind and inure to
the benefit of their respective successors and assigns hereunder.  

        Section
21.         Miscellaneous Provisions 

        (a)                 Subject
to the terms and conditions contained herein, this Warrant shall be           binding on
the Company and its successors and shall inure to the benefit of the           original
Holder, its successors and assigns and all holders of Warrant           Securities and
the exercise of this Warrant in full shall not terminate the           provisions of this
Warrant as it relates to holders of Warrant Securities.  

        (b)                  If
the Company fails to perform any of its obligations hereunder, it           shall be
liable to the Holder for all damages, costs and expenses resulting from           the
failure, including, but not limited to, all reasonable attorney’s fees           and
disbursements.  

        (c)                 This
Warrant cannot be changed or terminated or any performance or           condition waived
in whole or in part except by an agreement in writing signed by           the party
against whom enforcement of the change, termination or waiver is           sought;
provided, however, that any provisions hereof may be amended, waived,
          discharged or terminated upon the written consent of the Company and the
          Holder(.)  

        (d)                  If
any provision of this Warrant shall be held to be invalid,           illegal or
unenforceable, such provision shall be severed, enforced to the           extent
possible, or modified in such a way as to make it enforceable, and the
          invalidity, illegality or unenforceability shall not affect the remainder of
          this Warrant.  

        (e)                 The
Company agrees to execute such further agreements, conveyances,           certificates
and other documents as may be reasonably requested by the Holder to           effectuate
the intent and provisions of this Warrant.  

        (f)                 Paragraph
headings used in this Warrant are for convenience only and shall           not be taken
or construed to define or limit any of the terms or provisions of           this Warrant.
Unless otherwise provided, or unless the context shall otherwise           require, the
use of the singular shall include the plural and the use of any           gender shall
include all genders.  

		
	Dated:   March 26,  2007
	SECURITY WITH ADVANCED TECHNOLOGY, INC.

By: _______________________________________                                    

      Jeffrey G. McGonegal

      Chief Financial Officer

EXHIBIT 1  

PURCHASE FORM  

Dated  
            
          ,  

        The
undersigned hereby irrevocably elects to exercise the Warrant represented by this Warrant
Certificate to the extent of purchasing _______________________
                      Shares of Security With Advanced Technology, Inc., and hereby
tenders payment of the exercise price thereof. 

INSTRUCTIONS FOR
REGISTRATION OF STOCK  

	 	
Name  

(please type or print
in block letters) 

	 	
Address  

ASSIGNMENT FORM  

        FOR
VALUE RECEIVED, __________________________________                                  ,
hereby sells, assigns and transfers unto 

	 	
Name  

(please type or print
in block letters) 

	 	
Address  

the right to purchase  Shares of
Security  With  Advanced  Technology,  Inc. (the  "Company")  represented  by this
Warrant  Certificate to the extent of _________ Shares as to which such right is
exercisable and does hereby irrevocably constitute and appoint
  ___________________________                    attorney,  to transfer  the same on the
books of the Company with full power of substitution in the premises. 

	 	
Signature
_________________________________            Dated __________________  

Notice: the signature on this
assignment must correspond with the name as it appears upon the face of this
Warrant Certificate in every particular, without alteration or enlargement or any change
whatever.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]