Document:

EXHIBIT 4.2.87
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EXCEPT AS OTHERWISE PROVIDED IN THIS WARRANT, THE SECURITIES EVIDENCED BY THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS (i) THERE IS
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT COVERING SUCH SECURITIES, (ii)
THE SALE IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT, OR (iii) THE COMPANY
RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES REASONABLY
SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR
HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
REQUIREMENTS OF THE ACT.

                             SALON MEDIA GROUP, INC.

                          COMMON STOCK PURCHASE WARRANT

     1. Price and Number of Shares Subject to Warrant. FOR VALUE RECEIVED and
subject to the terms and conditions herein set forth, _______________, (the
"Purchaser"), is entitled to purchase from Salon Media Group, Inc., a Delaware
corporation (the "Company"), at any time after 5:00 p.m. California time on
February 2, 2005 and before the termination of this Warrant pursuant to Section
12 below, at a price per share equal to $0.161, as adjusted in accordance with
Section 3 below (the "Warrant Price"), that number of shares indicated in
Section 2 below of fully paid and nonassessable shares of the Common Stock of
the Company, as adjusted pursuant to Section 3 (the "Warrant Shares").

     2. Number of Warrant Shares. The number of Warrant Shares for which this
Warrant is exercisable is equal to ________________.

     3. Adjustment of Warrant Price and Warrant Shares. The number of Warrant
Shares issuable upon the exercise of this Warrant and the exercise price thereof
shall be subject to adjustment from time to time, and the Company agrees to
provide notice upon the happening of certain events, as follows:

          (a) Merger, Sale of Assets, etc. If at any time the Company proposes
to (i) consolidate with or merge with or sell or convey all or substantially all
of its assets to any other corporation or entity, or (ii) distribute stock,
securities or other assets to the holders of Common Stock in exchange for their
shares of the Company's Common Stock, then the Company shall give the holder of
this Warrant thirty (30) days advance notice of the effective date of such
transaction and to the extent the Warrant has not been exercised in full by the
effective date of such transaction, this Warrant shall terminate. The foregoing
notwithstanding, a merger or consolidation of the Company with or into another
corporation after which the shareholders of the Company immediately prior to
such transaction hold more than fifty percent (50%) of the voting power of the
surviving entity, shall not result in termination of this Warrant; instead this
Warrant shall be exchanged for a warrant of the surviving corporation that shall
entitle the holder hereof to acquire upon the exercise thereof the number of
shares of stock or other property to which the holder of the number of Warrant
Shares which are subject to this

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Warrant on the effective date of the merger would have been entitled to receive
for such securities under the terms of the merger.

          (b) Reclassification, etc. If the Company at any time shall, by
subdivision, combination or reclassification of securities or otherwise, change
any of the securities to which purchase rights under this Warrant exist into the
same or a different number of securities of any class or classes, this Warrant
shall thereafter entitle its holder to acquire such number and kind of
securities as would have been issuable as the result of such change with respect
to the securities which were subject to the purchase rights under this Warrant
immediately prior to such subdivision, combination, reclassification or other
change. If shares of the class of the Company's stock for which this Warrant is
being exercised are subdivided or combined into a greater or smaller number of
shares of stock, the Warrant Price shall be proportionately reduced in the case
of subdivision of shares or proportionately increased in the case of combination
of shares, in both cases by the ratio which the total number of shares of such
class of stock to be outstanding immediately after such event bears to the total
number of shares of such class of stock outstanding immediately prior to such
event.

          (c) Adjustment for Dividends in Stock. In case at any time or from
time to time on or after the date hereof the holders of the shares of the
Company's capital stock of the same class and series as the Warrant Shares (or
any shares of stock or other securities at the time receivable upon the exercise
of this Warrant) shall have received, or, on or after the record date fixed for
the determination of eligible shareholders, shall have become entitled to
receive, without payment therefor, other or additional stock of the Company by
way of dividend, then and in each case, the holder of this Warrant shall, upon
the exercise hereof, be entitled to receive, in addition to the number of
Warrant Shares receivable thereupon, and without payment of any additional
consideration therefor, the amount of such other or additional stock of the
Company which such holder would hold on the date of such exercise had it been
the holder of record of such Warrant Shares on the date hereof and had
thereafter, during the period from the date hereof to and including the date of
such exercise, retained such shares and/or all other additional stock receivable
by it as aforesaid during such period, giving effect to all adjustments called
for during such period by paragraph (c) of this Section 3.

          (d) Adjustment of Warrant Price.

               (i) Special Definitions. For purposes of this Section 3(d), the
following definitions shall apply:

                    (A) "OPTIONS" shall mean rights, options or warrants to
subscribe for, purchase or otherwise acquire either Common Stock or Convertible
Securities (as defined below).

                    (B) "CONVERTIBLE SECURITIES" shall mean any evidences of
indebtedness, shares or other securities convertible into or exchangeable for
Common Stock.

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                    (C) "ADDITIONAL SHARES OF COMMON STOCK" shall mean all
shares of Common Stock issued (or, pursuant to Section 3(d) below, deemed to be
issued) by the Company after the Warrant Issue Date (as defined below), other
than shares of Common Stock issued or issuable:

                    (I) upon conversion of shares of Preferred Stock;

                    (II) to officers, directors or employees of, or consultants
to, the Company pursuant to a warrant, stock grant, option agreement or plan,
purchase plan or other employee stock incentive program or agreement approved by
the Board of Directors, up to a maximum number of shares of Common Stock
(assuming full conversion of any such convertible securities into Common Stock)
equal to 25% of the then outstanding shares of the Company's Common Stock and
Preferred Stock (as converted);

                    (III) in connection with the acquisition by the Company of
another business entity or majority ownership thereof approved by the Board of
Directors;

                    (IV) to lease companies, real estate lessors, banks or
financial institutions, whether shares or warrants, in connection with any lease
or debt financing transaction approved by the Board of Directors;

                    (V) upon exercise of warrants outstanding as of the Warrant
Issue Date (as defined hereafter);

                    (VI) in connection with a transaction described in Section
3(d)(vi);

                    (VII) in connection with a strategic investment and/or
acquisition of technology or intellectual property approved by the Board of
Directors;

                    (VIII) by way of dividend or other distribution on shares of
Common Stock excluded from the definition of Additional Shares of Common Stock
by the foregoing clauses (I) through (VII).

                    (D)  "WARRANT  ISSUE  DATE" shall mean the date on which the
Warrant was first issued by the Company.

               (ii) No Adjustment of Warrant Price. No adjustment in the Warrant
Price shall be made with respect to the issuance of Additional Shares of Common
Stock unless the consideration per share for an Additional Share of Common Stock
issued or deemed to be issued by the Company is less than the Warrant Price in
effect on the date of, and immediately prior to, such issue.

               (iii) Deemed Issue of Additional Shares of Common Stock. In the
event the Company at any time or from time to time after the Warrant Issue Date
shall issue any Options or Convertible Securities or shall fix a record date for
the determination of holders

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of any class of securities entitled to receive any such Options or Convertible
Securities, then the maximum number of shares (as set forth in the instrument
relating thereto without regard to any provisions contained therein for a
subsequent adjustment of such number) of Common Stock issuable upon the exercise
of such Options or, in the case of Convertible Securities, the conversion or
exchange of the Convertible Securities shall be deemed to be Additional Shares
of Common Stock issued as of the time of the issuance of such Option or
Convertible Security or, in case such a record date shall have been fixed, as of
the close of business on such record date:

                    (A) except as provided in Section 3(d)(iii)(B) and
3(d)(iii)(C) below, no further adjustment in the Warrant Price shall be made
upon the subsequent issue of Convertible Securities or shares of Common Stock
upon the exercise of such Options or conversion or exchange of such Convertible
Securities;

                    (B) if such Options or Convertible Securities by their terms
provide, with the passage of time or otherwise, for any change in the
consideration payable to the Company, or change in the number of shares of
Common Stock issuable, upon the exercise, conversion or exchange thereof (other
than under or by reason of provisions designed to protect against dilution), a
Warrant Price computed upon the original issue thereof (or upon the occurrence
of a record date with respect thereto) and any subsequent adjustments based
thereon, shall, upon any such increase or decrease becoming effective, be
recomputed to reflect such increase or decrease insofar as it affects such
Options or the rights of conversion or exchange under such Convertible
Securities;

                    (C) upon the expiration of any such Options or Convertible
Securities, the Warrant Price, to the extent in any way affected by or computed
using such Options or Convertible Securities, shall be recomputed to reflect the
issuance of only the number of shares of Common Stock actually issued upon the
exercise of such Options or Convertible Securities; and

                    (D) no readjustment pursuant to Section 3(d)(iii) clauses
(B) and (C) above shall have the effect of increasing the Warrant Price to an
amount which exceeds the lower of (1) the Warrant Price on the original
adjustment date or (2) the Warrant Price that would have resulted from any
issuance of Additional Shares of Common Stock between the original adjustment
date and such readjustment date.

               (iv) Adjustment of Warrant Price Upon Issuance of Additional
Shares of Common Stock Below Purchase Price. In the event this Corporation shall
issue Additional Shares of Common Stock (including Additional Shares of Common
Stock deemed to be issued pursuant to Section 3(d)(iii)), after the Warrant
Issue Date, without consideration or for a consideration per share less than the
Warrant Price in effect on the date of and immediately prior to such issue (such
issuance price being referred to herein as the "DILUTION PRICE"), then and in
each such event the Warrant Price shall automatically be adjusted as set forth
in this Section 3(d)(iv), unless otherwise provided in this Section 3(d)(i).

                    (A) Adjustment Formula. Whenever the Conversion Price is
adjusted by Section 3(d)(iv), the new Warrant Price shall be determined by
multiplying the Warrant Price then in effect by a fraction, the numerator of
which shall be the number of

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shares of Common Stock outstanding immediately prior to such issue plus the
number of shares of Common Stock which the aggregate consideration received by
the Company for the total number of Additional Shares of Common Stock so issued
would purchase at such Warrant Price in effect immediately prior to such
issuance, and the denominator of which shall be the number of shares of Common
Stock outstanding immediately prior to such issues plus the number of such
additional shares of Common Stock so issued. For the purposes of this paragraph,
the number of outstanding shares of Common Stock shall be deemed to include the
Common Stock issuable on conversion of all other outstanding Preferred Stock,
upon conversion or exercise of any other outstanding Convertible Securities and
upon exercise of all vested Options (and assuming conversion of Convertible
Securities issuable upon exercise of Options).

               (v) Determination of Consideration. For purposes of this Section
3(d), the consideration received by the Company for the issue of any Additional
Shares of Common Stock shall be computed as follows:

                    (A) Cash and Property: Such consideration shall:

                         (1) insofar as it consists of cash, be computed at the
aggregate amount of cash received by the Company before deducting any reasonable
discounts, commissions or other expenses allowed, paid or incurred by the
Company for any underwriting or otherwise in connection with the issuance and
sale thereof;

                         (2) insofar as it consists of property other than cash,
be computed at the fair value thereof at the time of such issue, as determined
by Board in the good faith exercise of its reasonable business judgment; and

                         (3) in the event Additional Shares of Common Stock are
issued together with other shares or securities or other assets of the Company
for consideration which covers both, be the proportion of such consideration so
received, computed as provided in clauses (1) and (2) above, as determined in
good faith by the Board.

                    (B) Options and Convertible Securities. The consideration
per share received by the Company for Additional Shares of Common Stock deemed
to have been issued pursuant to Section 3(d), relating to Options and
Convertible Securities, shall be determined by dividing:

                         (1) the total amount, if any, received or receivable by
the Company as consideration for the issue of such Options or Convertible
Securities, plus the minimum aggregate amount of additional consideration (as
set forth in the instruments relating thereto, without regard to any provision
contained therein for a subsequent adjustment of such consideration) payable to
the Company upon the exercise of such Options or the conversion or exchange of
such Convertible Securities, or in the case of Options for Convertible
Securities, the exercise of such Options for Convertible Securities and the
conversion or exchange of such Convertible Securities, by

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                         (2) the maximum number of shares of Common Stock (as
set forth in the instruments relating thereto, without regard to any provision
contained therein for a subsequent adjustment of such number) issuable upon the
exercise of such Options or the conversion or exchange of such Convertible
Securities.

     4. No Stockholder Rights. This Warrant, by itself, as distinguished from
any shares purchased hereunder, shall not entitle its holder to any of the
rights of a stockholder of the Company.

     5. Exercise of Warrant. This Warrant may be exercised in whole or part by
the holder, at any time after the date hereof and prior to the termination of
this Warrant, by the surrender of this Warrant, together with the Notice of
Exercise attached hereto as Attachment 1, duly completed and executed at the
principal office of the Company, accompanied by payment in full of the Warrant
Price in cash or by check with respect to the Warrant Shares being purchased.
This Warrant shall be deemed to have been exercised immediately prior to the
close of business on the date of its surrender for exercise as provided above,
and the person entitled to receive the Warrant Shares issuable upon such
exercises shall be treated for all purposes as holder of such shares of record
as of the close of business on such date. As promptly as practicable after such
date, the Company shall issue and deliver to the person or persons entitled to
receive the same a certificate or certificates for the number of full Warrant
Shares issuable upon such exercise.

     6. Conversion. In lieu of exercising this Warrant or any portion hereof by
paying cash, the holder hereof shall have the right to convert this Warrant or
any portion hereof and receive Warrant Shares by executing and delivering to the
Company at its principal office the written notice of conversion in the form
attached hereto as Attachment 2, respectively, specifying the portion of the
Warrant to be converted, and accompanied by this Warrant. The number of Warrant
Shares to be issued upon such conversion shall be computed using the following
formula:

            X = (P)(Y)(A-B)/A

            Where        X = the number of Warrant Shares to be issued to the
                             holder for the portion of the Warrant being
                             converted.

                         P = the portion in the form of a fraction of the
                             Warrant being converted.

                         Y = the total number of Warrant Shares issuable upon
                             exercise of the Warrant in full.

                         A = the fair market value of one Warrant Share which
                             shall mean the last reported sale price per share
                             of the Common Stock as reported on the Nasdaq
                             National Market (or if the Common Stock is not then
                             listed on the Nasdaq National Market, then such
                             last reported sale price on a national securities
                             exchange or other nationally recognized exchange or
                             trading system) on the day upon which the holder
                             delivered its notice of conversion to the Company,
                             or if no

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                             such price is reported on such day, such price on
                             the next preceding business day for which such
                             price is reported.

                         B = the Warrant Price on the day upon which the holder
                             delivered its notice of conversion to the Company.

Any portion of this Warrant that is converted shall be immediately canceled.

     7. Certificate of Adjustment. Whenever the Warrant Price or number or type
of securities issuable upon exercise of this Warrant is adjusted, as herein
provided, the Company shall deliver to the record holder of this Warrant a
certificate of an officer or other authorized person of the Company setting
forth the nature of such adjustment and a brief statement of the facts requiring
such adjustment.

     8. Sale or Transfer of Warrant. The Purchaser shall not sell or transfer
this Warrant other than to an affiliate of Purchaser. For the purposes of this
Agreement, an "Affiliate" shall mean any partner, limited partner or member of
Purchaser or any person or entity that directly or indirectly through one or
more intermediaries controls or is controlled by or is under common control with
Purchaser.

     9. Successors and Assigns. The terms and provisions of this Warrant shall
inure to the benefit of, and be binding upon the Company, its successors and
assigns. This Warrant cannot be assigned by Purchaser, except to an Affiliate,
without the express written consent of the Company.

     10. Representations and Covenants of the Company. The Company makes the
following representations and covenants:

          (a) Authorization. All corporate action on the part of the Company,
its officers, directors and stockholders necessary for the authorization,
execution and delivery of this Warrant, the performance of all obligations of
the Company hereunder and thereunder, and the authorization, issuance (or
reservation for issuance), sale and delivery of the Warrant Shares issuable
hereunder has been taken or will be taken prior to the Closing, and this Warrant
constitutes valid and legally binding obligations of the Company, enforceable in
accordance with its terms, except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors' rights generally, (ii) as limited by laws
relating to the availability of specific performance, injunctive relief or other
equitable remedies and (iii) to the extent the indemnification provisions
contained in this Warrant may be limited by applicable federal or state
securities laws.

          (b) Valid Issuance of Common Stock. The Warrant Shares issuable
hereunder, when issued, sold and delivered in accordance with the terms of this
Warrant for the consideration expressed herein, will be duly and validly issued,
fully paid and nonassessable, and will be free of restrictions on transfer other
than restrictions on transfer under this Warrant and under applicable state and
federal securities laws.

          (c) Company Action. The Company will at all times during the term of
this Warrant act in good faith to assist in the carrying out of all of the
provisions of this

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Warrant. The Company will at all times during the term of the Warrant take any
and all action as may be necessary or appropriate to protect the exercise of the
rights of the Purchaser under this Warrant.

     11. Representations and Covenants of the Purchaser. This Warrant has been
entered into by the Company in reliance upon the following representations and
covenants of the Purchaser:

          (a) Investment Purpose. The right to acquire Common Stock contained
herein will be acquired for investment and not with a view to the sale or
distribution of any part thereof, and the Purchaser has no present intention of
selling or engaging in any public distribution of the same except pursuant to a
registration or exemption.

          (b) Private Issue. The Purchaser understands (i) that the Common Stock
issuable upon exercise of the purchase rights under this Warrant is not
registered under the Securities Act of 1933 Act or qualified under applicable
state securities laws on the ground that the issuance contemplated by this
Warrant will be exempt from the registration and qualifications requirements
thereof, and (ii) that the Company's reliance on such exemption is predicated on
the representations set forth in this Section.

          (c) Financial Risk. The Purchaser has such knowledge and experience in
financial and business matters as to be capable of evaluating the merits and
risks of its investment, and has the ability to bear the economic risks of its
investment.

          (d) Accredited Investor. Purchaser is an "accredited investor" within
the meaning of SEC Rule 501 of Regulation D, as presently in effect.

          (e) Authorization. This Warrant constitutes the Purchaser's valid and
legally binding obligation, enforceable in accordance with its terms.

          (f) Disclosure of Information. Purchaser believes it has received all
the information it considers necessary or appropriate for deciding whether to
purchase the rights under this Warrant. Purchaser further represents that it has
had an opportunity to ask questions and receive answers from the Company
regarding the terms and conditions of the Warrant and the Common Stock issuable
upon exercise of the purchase rights thereunder.

          (g) Investment Experience. Purchaser is an investor in securities of
companies and acknowledges that it is able to fend for itself, can bear the
economic risk of its investment and has such knowledge and experience in
financial or business matters that it is capable of evaluating the merits and
risks of the investment in the Company's stock. If other than an individual,
Purchaser also represents that it has not been organized for the purpose of
acquiring the rights under this Warrant.

          (h) Legends. It is understood that the Common Stock issuable upon
exercise of the rights under this Warrant may bear one or all of the following
legends:

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               (i) "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") AND ARE
"RESTRICTED SECURITIES" AS DEFINED IN RULE 144 PROMULGATED UNDER THE ACT. THE
SECURITIES MAY NOT BE SOLD OR OFFERED FOR SALE OR OTHERWISE DISTRIBUTED EXCEPT
(i) IN CONJUNCTION WITH AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER
THE ACT OR (ii) IN COMPLIANCE WITH RULE 144, OR (iii) PURSUANT TO AN OPINION OF
COUNSEL, THAT SUCH REGISTRATION OR COMPLIANCE IS NOT REQUIRED AS TO SAID SALE,
OFFER OR DISTRIBUTION."

               (ii) Any legend required by the laws of the State of California
or other states, including any legend required by the California Department of
Corporations and Sections 417 and 418 of the Corporations Code.

     12. Termination. Unless otherwise terminated pursuant to Section 3(a)
above, this Warrant shall terminate at 5:00 p.m., California time, on the third
anniversary of the date hereof.

     13. Notices. Unless otherwise provided, any notice required or permitted
under this Warrant shall be given in writing and shall be deemed effectively
given upon personal delivery to the party to be notified or upon deposit with
the United States Post Office, by registered or certified mail, postage prepaid
and addressed to the party to be notified at the address supplied by Purchaser
to the Company or at such other address as Purchaser shall designate by ten days
advance written notice to the Company.

     14. Miscellaneous. This Warrant shall be governed by the laws of the State
of California, as such laws are applied to contracts to be entered into and
performed entirely in California by California residents. The headings in this
Warrant are for purposes of convenience and reference only, and shall not be
deemed to constitute a part hereof. Any provision of this Warrant may be
amended, waived or modified upon the written consent of the Company, and the
Purchaser; provided, however that each other Purchaser of a Warrant shall, at
its option, be entitled to amend, waive or modify the Warrant held by such
Purchaser in a similar manner.

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<PAGE>

Upon delivery of written notice to the Company by the Purchaser, this Warrant
shall be deemed amended, waived or modified in the same manner as any other
Warrant. Any amendment or waiver effected in accordance with this Section 14
shall be binding upon the Company, the Purchaser and each transferee of this
Warrant.

                                        SALON MEDIA GROUP, INC.

                                        Signed: /s/ Elizabeth Hambrecht
                                                --------------------------------
                                        Printed:  Elizabeth Hambrecth
                                        Title:  President, Chief Financial
                                                Officer and Secretary

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                                  ATTACHMENT 1

                               NOTICE OF EXERCISE

TO:  Salon Media Group, Inc.

     1. The undersigned hereby elects to purchase _____________________ shares
of Common Stock of Salon Media Group, Inc., pursuant to the terms of the
attached Warrant, and tenders herewith payment of the purchase price in full,
together with all applicable transfer taxes, if any.

     2. Please issue a certificate or certificates representing said shares of
Common Stock in the name of the undersigned or in such other name as is
specified below:

     -----------------------------
     (Name)

     -----------------------------
     (Address)

-------------------------               --------------------------------------
(Date)                                  (Name of Warrant Holder)

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

                                        Title:
                                              --------------------------------
                                              (Name of purchaser, and title and
                                               signature of authorized person)

<PAGE>

                                  ATTACHMENT 2

                              NOTICE OF CONVERSION

TO:  Salon Media Group, Inc.

     1. The undersigned hereby elects to acquire _______________________ shares
of Common Stock of Salon Media Group, Inc., pursuant to the terms of the
attached Warrant, by conversion of ________ percent (___%) of the Warrant.

     2. Please issue a certificate or certificates representing said shares of
Common Stock in the name of the undersigned or in such other name as is
specified below:

     ------------------------------
     (Name)

     ------------------------------
     (Address)

-------------------------               --------------------------------------
(Date)                                  (Name of Warrant Holder)

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

                                        Title:
                                              --------------------------------
                                              (Name of purchaser, and title and
                                               signature of authorized person)EXHIBIT 4.1
                                                                     -----------

THE WARRANT EVIDENCED HEREBY, AND THE SECURITIES ISSUABLE HEREUNDER, HAVE BEEN
AND SHALL BE ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE APPLICABLE STATE SECURITY LAWS. THE WARRANT AND SUCH SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE,
AND SHALL NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS THE PROPOSED
DISPOSITION IS THE SUBJECT OF A CURRENTLY EFFECTIVE REGISTRATION STATEMENT UNDER
SAID ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO
THE COMPANY, TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SAID ACT
AND SUCH STATE SECURITIES LAWS IN CONNECTION WITH SUCH DISPOSITION.

                              GLOBAL MATRECHS, INC.

                          COMMON STOCK PURCHASE WARRANT

                      Original Issue Date: January 31, 2005
                          Void After: January 31, 2010

                            This Warrant is Issued to
                             SOUTHRIDGE PARTNERS LP

(hereinafter called the "Holder," which term shall include the Holder's legal
representatives, heirs, successors and assigns) by Global Matrechs, Inc., a
Delaware corporation (hereinafter referred to as the "Company"). This Warrant
may be transferred by the Holder only in accordance with the provisions of
Section 12.

     1. Exercise of Warrant. For value received and subject to the terms and
conditions hereinafter set forth, the Holder is entitled, upon surrender of this
Warrant at any time on or after January 31, 2005 and on or prior to January 31,
2010 (the "Exercise Date") (with the subscription form annexed hereto (the
"Subscription Form") duly executed) at the office of the Company at 90 Grove
Street, Suite 201, Ridgefield, Connecticut 06877, or such other office in the
United States of which the Company shall notify the Holder hereof in writing, to
purchase from the Company, at the purchase price hereinafter specified (as
adjusted from time to time, the "Exercise Price"), 10,000,000 shares (the
"Warrant Shares") (as adjusted from time to time) of the Common Stock, $0.0001
par value per share, of the Company (the "Common Stock"). The initial Exercise
Price shall be $0.025 per share.

     2. Issuance of Stock Certificates. As promptly as practicable after
surrender of this Warrant and receipt of payment of the Exercise Price, the
Company shall issue and deliver to the Holder a certificate or certificates for
the shares purchased hereunder, in certificates of such denominations and in
such names as the Holder may specify.

<PAGE>

     3. Payment of Exercise Price. Payment of the Exercise Price shall be made
by check made payable to the order of the Company or wire transfer of funds to a
bank account designated by the Company.

     4. Cashless Exercise. The Holder may notify the Company in a Subscription
Form of its election to utilize cashless exercise, in which event the Company
shall issue to the Holder the number of Warrant Shares determined as follows:

                   X = Y [(A-B)/A]

          where:

                   X = the number of Warrant Shares to be issued to the Holder.

                   Y = the number of Warrant Shares with
                   respect to which this Warrant is being
                   exercised.

                   A = the average of the closing prices for
                   the five trading days immediately prior to
                   (but not including) the Exercise Date.

                   B = the Exercise Price.

For purposes of Rule 144 promulgated under the Securities Act, it is intended,
understood and acknowledged that the Warrant Shares issued in a cashless
exercise transaction shall be deemed to have been acquired by the Holder, and
the holding period for the Warrant Shares shall be deemed to have commenced, on
the date this Warrant was originally issued.

     5. Limitation on Exercise. Notwithstanding anything to the contrary
contained herein, the number of Warrant Shares that may be acquired by the
Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall
be limited to the extent necessary to insure that, following such exercise (or
other issuance), the total number of shares of Common Stock then beneficially
owned by such Holder and its affiliates and any other persons whose beneficial
ownership of Common Stock would be aggregated with the Holder's for purposes of
Section 13(d) of the Exchange Act, does not exceed 4.999% of the total number of
issued and outstanding shares of Common Stock (including for such purpose the
shares of Common Stock issuable upon such exercise). For such purposes,
beneficial ownership shall be determined in accordance with Section 13(d) of the
Exchange Act and the rules and regulations promulgated thereunder.

     6. Adjustment for Dividends, Distributions, Subdivisions, Combinations,
Mergers, Consolidations or Sale of Assets.

          6.1 Manner of Adjustment.

               (a) Stock Dividends, Distributions or Subdivisions. In the event
the Company shall issue shares of Common Stock in a stock dividend, stock
distribution or subdivision, the Exercise Price in effect immediately before
such stock dividend, stock distribution or subdivision shall, concurrently with
the effectiveness of such stock dividend,

                                        2
<PAGE>

stock distribution or subdivision, be proportionately decreased and the number
of shares of Common Stock purchasable by exercise of this Warrant shall be
proportionately increased.

               (b) Combinations or Consolidations. In the event the outstanding
shares of Common Stock shall be combined or consolidated, by reclassification or
otherwise, into a lesser number of shares of Common Stock, the Exercise Price in
effect immediately prior to such combination or consolidation shall,
concurrently with the effectiveness of such combination or consolidation, be
proportionately increased and the number of shares of Common Stock purchasable
by exercise of this Warrant shall be proportionately decreased.

               (c) Adjustment for Reclassification, Exchange or Substitution. In
the event that the class of securities issuable upon the exercise of this
Warrant shall be changed into the same or a different number of shares of any
class or classes of stock, whether by capital reorganization, reclassification
or otherwise (other than any event addressed by Sections 6.1(a), 6.1(b) or
6.1(d)), then and in each such event the Holder shall have the right thereafter
to exercise this Warrant for the kind and amount of shares of stock and other
securities and property receivable upon such reorganization, reclassification,
or other change, by holders of the number of shares of the class of securities
into which such Warrant might have been exercisable for immediately prior to
such reorganization, reclassification, or change, all subject to further
adjustment as provided herein.

               (d) Adjustment for Merger, Consolidation or Sale of Assets. In
the event that the Company shall merge or consolidate with or into another
entity or sell all or substantially all of its assets, this Warrant shall
thereafter be exercisable for the kind and amount of shares of stock or other
securities or property to which a holder of the number of shares of Common Stock
of the Company deliverable upon exercise of this Warrant would have been
entitled upon such consolidation, merger or sale; and, in such case, appropriate
adjustment (as determined in good faith by the Company's Board of Directors)
shall be made in the application of the provisions set forth in this Section 6
with respect to the rights and interest thereafter of the Holder of this
Warrant, to the end that the provisions set forth in this Section 6 shall
thereafter be applicable, as nearly as reasonably may be, in relation to any
shares of stock or other property thereafter deliverable upon the exercise of
this Warrant.

          6.2 Certificate as to Adjustments. Upon the occurrence of each
adjustment or readjustment of the Exercise Price pursuant to this Section 6, the
Company at its expense shall promptly compute such adjustment or readjustment in
accordance with the terms hereof and furnish to the Holder a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which
such adjustment or readjustment is based.

          6.3 Closing of Books. The Company shall at no time close its transfer
books against the transfer of any shares of Common Stock issued or issuable upon
the exercise of this Warrant in any manner which interferes with the timely and
proper issuance of such shares.

     7. Covenants of the Company. During the period within which the rights
represented by this Warrant may be exercised, the Company shall at all times
have authorized and reserved for the purpose of issue upon exercise of the
rights evidenced hereby, a sufficient number of shares of the class of
securities issuable upon exercise of this Warrant to provide

                                        3
<PAGE>

for the exercise of such rights. All securities which may be issued upon the
exercise of the rights represented by this Warrant shall, upon issuance, be duly
authorized, validly issued, fully paid and non-assessable and free from all
taxes, liens and charges with respect to the issue thereof. Upon surrender for
exercise, this Warrant shall be canceled and shall not be reissued; provided,
however, that upon the partial exercise hereof a substitute Warrant of like
tenor and date representing the rights to subscribe for and purchase any such
unexercised portion hereof shall be issued.

     8. Voting Rights. This Warrant shall not entitle the Holder to any voting
rights or any other rights as a stockholder of the Company but upon presentation
of this Warrant with the Subscription Form duly executed and the tender of
payment of the Exercise Price at the office of the Company pursuant to the
provisions of this Warrant, the Holder shall forthwith be deemed a stockholder
of the Company in respect of the securities for which the Holder has so
subscribed and paid.

     9. No Change Necessary. The form of this Warrant need not be changed
because of any adjustment in the Exercise Price or in the number of shares
issuable upon its exercise. A Warrant issued after any adjustment or any partial
exercise or upon replacement may continue to express the same Exercise Price and
the same number of shares (appropriately reduced in the case of partial
exercise) as are stated on this Warrant as initially issued, and that Exercise
Price and that number of shares shall be considered to have been so changed as
of the close of business on the date of adjustment.

     10. Addresses for Notices. All notices, requests, consents and other
communications hereunder shall be in writing, either delivered in hand or mailed
by registered or certified mail, return receipt requested, or sent by facsimile,
and shall be deemed to have been duly made when delivered:

               (a) If to the Holder, to the Holder's address as shown on the
books of the Company; or

               (b) If to the Company, to the address set forth on the first page
of this Warrant.

     11. Substitution. In the case this Warrant shall be mutilated, lost, stolen
or destroyed, the Company shall issue a new Warrant of like tenor and
denomination and deliver the same (a) in exchange and substitution for and upon
surrender and cancellation of any mutilated Warrant, or (b) in lieu of any
Warrant lost, stolen or destroyed, upon receipt of evidence satisfactory to the
Company of the loss, theft, or destruction of such Warrant (including, without
limitation, a reasonably detailed affidavit with respect to the circumstances of
any loss, theft or destruction), and of indemnity (or, in the case of the
initial Holder or any other institutional holder, an indemnity agreement)
satisfactory to the Company.

     12. Transfer Restrictions. This Warrant shall not be transferable by the
Holder and shall be exercisable only by the Holder. Without the prior written
consent of the Company, the Warrant shall not be assigned, pledged or
hypothecated in any way (whether by operation of law or otherwise) and shall not
be subject to execution, attachment or similar process. Any

                                        4
<PAGE>

attempted transfer, assignment, pledge, hypothecation or other disposition of
the Warrant or of any rights granted hereunder contrary to the provisions of
this Section 12, or the levy of any attachment or similar process upon the
Warrant or such rights, shall be null and void.

     13. Taxes. The Company makes no representation about tax treatment to the
Holder with respect to receipt or exercise of the Warrant or acquiring, holding
or disposing of the Common Stock, and the Holder represents that the Holder has
had the opportunity to discuss such treatment with the Holder's tax advisers.

     14. Remedies. Each party stipulates that the remedies at law in the event
of any default or threatened default by the other party in the performance or
compliance with any of the terms of this Warrant are and shall not be adequate,
and that such terms may be specifically enforced by a decree for that specific
performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise.

     15. Governing Law. This Warrant shall be construed and enforced in
accordance with, and governed by, the laws of the State of New York without
regard to its principles of conflicts of laws.

     16. Miscellaneous. This Warrant and any term hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the Holder
and the Company.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                        5
<PAGE>

                                                   COMMON STOCK PURCHASE WARRANT

                                      * * *

     IN WITNESS WHEREOF, the parties have caused this Warrant to be executed
this 31st day of January, 2005.

                                             Global matrechs, inc.

                                             By: /s/ Michael Sheppard
                                                 -------------------------
                                             Name: Michael Sheppard
                                                   -----------------------
                                             Title: President
                                                    ----------------------

<PAGE>

                                SUBSCRIPTION FORM

                          (TO BE EXECUTED BY THE HOLDER
                        IN ORDER TO EXERCISE THE WARRANT)

                                                         Date: ________________

To:  Global Matrechs, Inc.
     90 Grove Street, Suite 201
     Ridgefield, CT  06877

     The undersigned, pursuant to the provisions set forth in the attached
Warrant hereby irrevocably elects to purchase _____ shares of the Common Stock
(the "Common Stock") covered by such Warrant and herewith makes payment of
$_________, representing the [full/partial] purchase price for such shares at
the price per share provided for in such Warrant.

     The undersigned hereby agrees to take such other action and execute and
deliver such other documents as Global Matrechs, Inc. may require, in connection
with the issue of shares of Common Stock to the undersigned as aforesaid, in
order to comply with the provisions of such Warrant.

     The undersigned is aware that the Common Stock has not been registered
under the Securities Act of 1933, as amended (the "Act") or any state securities
laws. The undersigned understands that the reliance by the Company on exemptions
under the Act is predicated in part upon the truth and accuracy of the
statements of the undersigned in this Subscription Form.

     The undersigned represents and warrants that (1) it has been furnished with
all information which it deems necessary to evaluate the merits and risks of the
purchase of the Common Stock; (2) it has had the opportunity to ask questions
concerning the Common Stock and the Company and all questions posed have been
answered to its satisfaction; (3) it has been given the opportunity to obtain
any additional information it deems necessary to verify the accuracy of any
information obtained concerning the Common Stock and the Company; and (4) it has
such knowledge and experience in financial and business matters that it is able
to evaluate the merits and risks of purchasing the Common Stock and to make an
informed investment decision relating thereto.

     The undersigned hereby represents and warrants that it is purchasing the
Common Stock for its own account and not with a view to the sale or distribution
of all or any part of the Common Stock.

     The undersigned understands that because the Common Stock have not been
registered under the Act, it must continue to bear the economic risk of the
investment for an indefinite time and the Common Stock cannot be sold unless the
Common Stock are subsequently registered under applicable federal and state
securities laws or an exemption from such registration is available.

     The undersigned agrees that it shall in no event sell or distribute or
otherwise dispose of all or any part of the Common Stock unless (1) there is an
effective registration statement under

<PAGE>

the Act and applicable state securities laws covering any such transaction
involving the Common Stock or (2) the Company receives an opinion of legal
counsel to the undersigned (concurred in by legal counsel for the Company)
stating that such transaction is exempt from registration or the Company
otherwise satisfies itself that such transaction is exempt from registration.

     The undersigned consents to the placing of a legend on its certificate for
the Common Stock stating that the Common Stock has not been registered and
setting forth the restriction on transfer contemplated hereby and to the placing
of a stop transfer order on the books of the Company and with any transfer
agents against the Common Stock until the Common Stock may be legally resold or
distributed without restriction.

     The undersigned has considered the Federal and state income tax
implications of the exercise of the Warrant and the purchase and subsequent sale
of the Common Stock.

                                         ----------------------------
                                         Signature

                                         Print name:
                                                    -----------------

                                         Date:
                                              -----------------------

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