Document:

EXHIBIT 10.4

                          SECURITIES PURCHASE AGREEMENT

      SECURITIES PURCHASE AGREEMENT (this "Agreement"), dated as of June 30,
2005, by and among Terra Insight Corporation, a Delaware corporation (the
"Company"), CompuPrint, Inc., a North Carolina corporation ("CPPT"), and Enficon
Establishment, a Liechtenstein company ("Buyer").

                                    WHEREAS:

      A. The parties are executing and delivering this Agreement in reliance
upon an exemption from securities registration afforded by the rules and
regulations as promulgated by the United States Securities and Exchange
Commission (the "SEC") under the Securities Act of 1933, as amended (the "1933
Act");

      B. Buyer desires to purchase, and the Company and CPPT desire to issue and
sell, upon the terms and conditions set forth in this Agreement, Convertible
Debentures of CPPT (the "Securities"), convertible into shares of common stock
of CPPT at $1 per share, in the form annexed hereto as Exhibit A, at the price
of $5 million, paid in stages as further described below;

      C. Information about the Company is set forth in the accompanying Private
Placement Memorandum dated June 30, 2005 (the "PPM"). The information in the PPM
relates to the business and operations of TIC, which has recently been acquired
by CPPT;

      NOW THEREFORE, the Company, CPPT and Buyer hereby agree as follows:

      1. PURCHASE AND SALE OF SECURITIES.

            a. Purchase of Securities. On the Closing Date (as defined below),
CPPT shall issue and sell to Buyer and Buyer agrees to purchase from CPPT the
Securities.

            b. Form of Payment. Upon execution of this Agreement, (i) Buyer
shall pay the purchase price indicated on the signature page (the "Purchase
Price") for the Securities to be issued and sold to Buyer at the Closing by cash
or wire transfer of immediately available funds. All of such funds shall be paid
by wire transfer to:

                    Account Name:    Law Offices of Dan Brecher, Escrow Account
                    Account No.:     95050499
                    ABA No.:         021-000-089
                    Bank:            Citibank N.A.
                                     90 Park Avenue
                                     New York, NY 10016

            c. Closing Date. The date and time of the sale of the Securities
pursuant to this Agreement (the "Closing Date") shall be the date of acceptance
by CPPT of the Buyer as a purchaser of its securities hereunder, and the receipt
and clearance of the Purchase Price.

            d. Required Payments for Convertible Debenture Purchases.

                  (i) The initial $2 million payment for Debenture No. 1, which
            is Exhibit A hereto, is due in full on or before July 05, 2005. If
            such payment in full is not received in the form of payment provided
            for in Section 1.b. above on or before July 05, 2005, this
            Securities Purchase Agreement and all other agreements between the
            parties are void and of no further effect, except that the
            confidentiality agreement and the non-circumvention agreement
            previously signed on behalf of Enficon shall remain in effect.

                  (ii) At the sole discretion of CPPT, but in any event, no
            later than August 1, 2005, CPPT and the Company will send notice to
            Buyer that a further $1 million payment is due for the purchase of a
            further $1 million Debenture in the form of convertible debenture
            that is Exhibit A to this Agreement. Buyer shall, within five
            business days of such notice, pay said $1 million to CPPT by wire
            transfer to the account stated in Section 1.b. above. If Buyer fails
            to pay CPPT the

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            amount required to be paid in this Section 1.d.(ii) within five
            business days of notice sent by CPPT, and CPPT or TIC has deposited
            at least $1 million in a TNEC bank account, then Buyer shall have no
            further rights to purchase any debenture from CPPT under this
            Agreement.

                  (iii) At the sole discretion of CPPT, assuming that Buyer has
            complied with the other terms of this Agreement, CPPT can notice to
            Buyer and request the wiring of an additional $2 million payment for
            the purchase of a further $2 million Debenture in the form of
            convertible debenture that is Exhibit A to this Agreement ( up to a
            total of $5 million of debenture purchases pursuant to this
            Agreement), after the first $3 million of debenture purchases have
            been made, of which $1 million shall have been paid over and used in
            accordance with Schedule 1 to the Tierra Nevada Exploration
            Agreement dated June 30, 2005 (the "TNEC Agreement"). Buyer shall,
            within five business days of such notice, pay said $2 million to
            CPPT by wire transfer to the account stated in Section 1.b. above.
            If Buyer fails to pay CPPT the amount required to be paid in this
            Section 1.d.(iii) within five business days of notice sent by CPPT,
            then Buyer shall have no further rights to purchase any debenture
            from CPPT under this Agreement.

      2. BUYER'S REPRESENTATIONS AND WARRANTIES. Buyer represents and warrants
to the Company and CPPT solely as to it that:

            a. Investment Purpose. As of the date hereof, Buyer is purchasing
the Securities for its own account and not with a present view towards the
public sale or distribution thereof, except pursuant to sales registered or
exempted from registration under the 1933 Act; provided, however, that by making
the representations herein, Buyer does not agree to hold any of the Securities
for any minimum or other specific term and reserves the right to dispose of the
Securities at any time in accordance with or pursuant to a registration
statement or an exemption under the 1933 Act.

            b. Accredited Investor Status. Buyer is a sophisticated investor (as
described in Rule 506(b)(2)(ii) of Regulation D) and an accredited investor (as
defined in Rule 501 of Regulation D), and Buyer has such experience in business
and financial matters that it has the capacity to protect its own interests in
connection with this transaction and is capable of evaluating the merits and
risks of an investment in the Securities pursuant to this Agreement. Buyer has
been represented by counsel and advisors of its choice. Buyer acknowledges that
an investment in the Securities pursuant to this Agreement is speculative and
involves a high degree of risk.

            c. Reliance on Exemptions. Buyer understands that the Securities are
being offered and sold to it in reliance upon specific exemptions from the
registration requirements of United States federal and state securities laws and
that the Company and CPPT are relying upon the truth and accuracy of, and
Buyer's compliance with, the representations, warranties, agreements,
acknowledgments and understandings of Buyer set forth herein in order to
determine the availability of such exemptions and the eligibility of Buyer to
acquire the Securities.

            d. Information. Buyer has conducted its own independent
investigation of the Company and CPPT, and has received the PPM and all
documents, records, books and other information pertaining to Buyer's investment
in the Company and CPPT that has been requested by Buyer. Buyer represents that
Buyer has carefully reviewed the information provided, including the PPM. Buyer
understands that the information in the PPM relates to the business and
operations of TIC, and does not give effect to the business or operations of
CPPT, which is a company with no substantive operations, nor to the effects of
the proposed combination of the Company and CPPT.

            e. Governmental Review. Buyer understands that no United States
federal or state agency or any other government or governmental agency has
passed upon or made any recommendation or endorsement of the Securities. There
is no representation that any registration statement will be declared effective.

            f. Transfer or Resale. Buyer understands that: (i) except as
provided for herein, the sale or re-sale of the Securities has not been and is
not being registered under the 1933 Act or any applicable state securities laws,
and the Securities may not be transferred unless (a) the Securities are sold
pursuant to an effective registration statement under the 1933 Act, (b) Buyer
shall have delivered to CPPT an opinion of counsel that shall be in form,
substance and scope customary for opinions of counsel in comparable transactions
to the effect that the Securities to be sold or transferred may be sold or
transferred pursuant to an exemption from such registration to the reasonable
satisfaction of CPPT, (c) the Securities are sold or transferred to an
"affiliate" (as defined in Rule 144 promulgated under the 1933 Act (or a
successor rule) ("Rule 144")) of Buyer who agrees to sell or otherwise transfer
the Securities only in accordance with this Section 2(f) and who is an
accredited investor, or (d) the Securities are sold

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pursuant to Rule 144, and Buyer shall have delivered to CPPT an opinion of
counsel that shall be in form, substance and scope customary for opinions of
counsel in corporate transactions to the reasonable satisfaction of CPPT; (ii)
any sale of such Securities made in reliance on Rule 144 may be made only in
accordance with the terms of said Rule and further, if said Rule is not
applicable, any re-sale of such Securities under circumstances in which the
seller (or the person through whom the sale is made) may be deemed to be an
underwriter (as that term is defined in the 1933 Act) may require compliance
with some other exemption under the 1933 Act or the rules and regulations of the
SEC thereunder; and (iii) neither CPPT nor any other person is under any
obligation to file to register such Securities under the 1933 Act or any state
securities laws or to comply with the terms and conditions of any exemption
thereunder (in each case, other than pursuant to the provisions herein).
Notwithstanding the foregoing or anything else contained herein to the contrary,
the Securities may be pledged as collateral in connection with a bona fide
margin account or other lending arrangement.

            g. Legends. Buyer understands that until such time as the Securities
have been registered under the 1933 Act or otherwise may be sold pursuant to
Rule 144 without any restriction as to the number of securities as of a
particular date that can then be immediately sold, the Securities may bear a
restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

                  "The securities represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended. The
                  securities may not be sold, transferred or assigned in the
                  absence of an effective registration statement for the
                  securities under said Act, or an opinion of counsel, in form,
                  substance and scope customary for opinions of counsel in
                  comparable transactions, that registration is not required
                  under said Act or unless sold pursuant to Rule 144 under said
                  Act."

            h. Authorization; Enforcement. This Agreement has been duly
authorized and validly executed and delivered by Buyer and is a valid and
binding agreement of Buyer enforceable against it in accordance with its terms
(i) subject to applicable bankruptcy, insolvency, or similar laws relating to,
or affecting generally the enforcement of, creditors' rights and remedies or by
other equitable principles of general application, (ii) subject to a court's
discretionary authority with respect to the granting of specific performance,
injunctive relief or other equitable remedies and (iii) except to the extent the
indemnification and contribution provisions, if any, contained in any this
Agreement may be limited by applicable federal or state securities laws or
unenforceable as against public policy..

            i. Residency. Buyer is a resident of the jurisdiction set forth
immediately below Buyer's name on the signature page hereto.

            j. Not an Affiliate. Buyer is not an officer, director or
"affiliate" (as that term is defined in Rule 405 under the 1933 Act) of CPPT.

            k. Absence of Conflicts. The execution and delivery of this
Agreement, and the consummation of the transactions contemplated hereby and
thereby, and compliance with the requirements hereof and thereof by Buyer, will
not violate any law, rule, regulation, order, writ, judgment, injunction, decree
or award binding on Buyer or (a) violate any provision of any indenture,
instrument or agreement to which Buyer is a party or is subject, or by which
Buyer or any of its assets is bound; (b) conflict with or constitute a material
default thereunder; (c) result in the creation or imposition of any lien
pursuant to the terms of any such indenture, instrument or agreement, or
constitute a breach of any fiduciary duty owed by Buyer to any third party; or
(d) require the approval of any non-governmental agency third-party (which has
not been obtained) pursuant to any material contract, agreement, instrument,
relationship or legal obligation to which Buyer is subject or to which any of
its assets, operations or management may be subject.

            l. Manner of Sale. At no time was Buyer presented with or solicited
by or through any leaflet, public promotional meeting, television advertisement
or any other form of general solicitation or advertising.

            m. Broker/Finder. Buyer represents that no broker or finder is
entitled to any commission or fee.

            n. Corporate Matters. In connection with the business combination of
the Company and CPPT, Buyer consents to the following proposed actions: a
proposed reincorporation of CPPT under the laws of the

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State of Delaware; a proposed parent-subsidiary merger of CPPT and the Company
under the laws of the State of Delaware; a proposed name change of CPPT to
"Terra Insight Corporation" or such other corporate name as is selected by its
Board of Directors; and an increase in the authorized capital of CPPT to
250,000,000 shares of common stock and 25,000,000 shares of preferred stock.
Buyer waives any entitlement to appraisal or dissenter rights in connection with
the foregoing.

      3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND/OR CPPT. The Company
and/or CPPT represents and warrants to Buyer that:

            a. Organization and Qualification. Each of the Company and CPPT is
an entity duly organized, validly existing and in good standing under the laws
of the jurisdiction in which it is incorporated, organized or formed, with full
power and authority (corporate and other) to own, lease, use and operate its
properties and to carry on its business as and where now owned, leased, used,
operated and conducted. Each of the Company and CPPT is duly qualified or
intends to apply for qualification as a foreign corporation to do business and
is in good standing in every jurisdiction in which its ownership or use of
property or the nature of the business conducted by it makes such qualification
necessary, except where the failure to be so qualified or in good standing would
not have a Material Adverse Effect. "Material Adverse Effect" means any material
adverse effect on the business, operations, assets, financial condition or
prospects of the Company or CPPT, if any, taken as a whole, or on the
transactions contemplated hereby or by the agreements or instruments to be
entered into in connection herewith. Immediately prior to the proposed
acquisition of the Company by CPPT, neither the Company nor CPPT has a
subsidiary, except that the Company has formed Terra Resources, Inc. The term
"subsidiary" means any corporation or other organization, whether incorporated
or unincorporated, in which the Company owns, directly or indirectly, any equity
or other ownership interest.

            b. Authorization; Enforcement. Each of the Company and CPPT has all
requisite corporate power and authority to enter into and perform this Agreement
and to consummate the transactions contemplated hereby and thereby and to issue
the Securities, in accordance with the terms hereof and thereof. The execution
and delivery of this Agreement by the Company and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by the
Board of Directors of the Company and CPPT. This Agreement has been duly
executed and delivered by the Company and CPPT by its authorized representative,
and such authorized representative is the true and official representative with
authority to sign this Agreement and the other documents executed in connection
herewith and bind the Company and CPPT accordingly. This Agreement constitutes a
legal, valid and binding obligation of the Company and CPPT enforceable against
the Company and CPPT in accordance with its terms.

            c. Capitalization. As of June 30, 2005, the authorized capital stock
of CPPT consists of 100,000,000 shares of common stock, of which 41,333,320
shares are issued and outstanding, and 1,000,000 shares of preferred stock, of
which no shares are issued and outstanding. Except as referenced herein, as of
June 30, 2005, no shares of common stock or preferred stock are currently
reserved for issuance. All of such outstanding reserved shares of capital stock
are, or upon issuance will be, duly authorized, validly issued, fully paid and
nonassessable. No shares of capital stock of CPPT are subject to preemptive
rights or any other similar rights of the shareholders of CPPT or any liens or
encumbrances imposed through the actions or failure to act of CPPT.

                  CPPT will be implementing a stock option plan and is
implementing a management incentive plan, which may be subdivided as
appropriate, for employees, management and other persons entitled to participate
in accordance with usual compensation practices for development stage technology
companies. As of June 30, 2005, CPPT has options outstanding (or reserved for
issuance) for the purchase of approximately 3,100,000 shares at $.32 per share,
413,333 shares at $.80 per share, 250,000 shares at $.80 per share, and 500,000
shares at $1.00 per share, and may issue additional options to purchase up to
2,000,000 shares at fair market value, all separate and apart from the shares
reserved under the stock option plan. CPPT has reserved approximately 5,000,000
shares for future issuance under its stock option plan, at an exercise price at
fair market value on the date of issuance, and pursuant to future employment and
consulting agreements. All of these options are in conjunction with employment
or services agreements between CPPT and its officers, directors and/or
consultants. Except as referenced herein, there are no presently outstanding
options, warrants, rights (including, without limitation, rights of first
refusal, anti-dilution, conversion, preemptive or similar rights) or agreements
for the purchase or acquisition from CPPT of any shares of its capital stock or
any securities convertible into or ultimately exchangeable or exercisable for
any shares of its capital stock.

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            d. Issuance of Securities. The Securities to be issued and sold
hereunder will be (i) duly and validly issued, fully paid and nonassessable,
with no personal liability attaching to the ownership thereof, (ii) free of
restrictions on transfer other than restrictions on transfer under this
Agreement and securities laws, (c) free of any liens, mortgages, claims,
charges, security interests, restrictions or encumbrances of any kind ("Liens")
other than as may be created by Buyer, and (d) not subject to any rights of
first refusal, preemptive or similar rights existing prior to the issuance
thereof.

            e. No Conflicts. Each of the Company and CPPT represents that the
execution, delivery and performance of this Agreement by it and the consummation
by it of the transactions contemplated hereby and thereby will not (i) conflict
with or result in a violation of any provision of its Certificate of
Incorporation or By-laws in effect after giving effect to the acquisition of the
Company by CPPT, (ii) violate or conflict with, or result in a breach of any
provision of, or constitute a default (or an event which with notice or lapse of
time or both could become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, any agreement,
indenture, patent, patent license or instrument to which it is a party, or (iii)
result in a violation of any law, rule, regulation, order, judgment or decree
(including federal and state securities laws and regulations and regulations of
any self-regulatory organizations to which it or its securities are subject)
applicable to it or by which any of its property or asset is bound or affected
(except for such conflicts, defaults, terminations, amendments, accelerations,
cancellations and violations as would not, individually or in the aggregate,
have a Material Adverse Effect). It is not in violation of its Certificate of
Incorporation, By-laws or other organizational documents and it is not in
default (and no event has occurred which with notice or lapse of time or both
could put it in default) under, and it has not taken any action or failed to
take any action that would give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which
it is a party or by which any of its property or assets is bound or affected,
except for possible defaults as would not, individually or in the aggregate,
have a Material Adverse Effect. Its businesses are not being conducted, and
shall not be conducted so long as Buyer owns any of the Securities, in violation
of any law, ordinance or regulation of any governmental entity. Except as
specifically contemplated by this Agreement and as required under the 1933 Act
and any applicable state securities laws, it is not required to obtain any
consent, authorization or order of, or make any filing or registration with, any
court, governmental agency, regulatory agency, self regulatory organization or
stock market in order for it to execute, deliver or perform any of its
obligations under this Agreement in accordance with the terms hereof or thereof;
all of such consents, authorizations, orders, filings or registrations have been
made or obtained or will be made or obtained within the required statutory or
regulatory time periods, if any.

            f. Absence of Litigation. Each of the Company and CPPT represents
that there is no action, suit, claim, proceeding, inquiry or investigation
before or by any court, public board, government agency, self-regulatory
organization or body pending or, to its knowledge, threatened against or
affecting it, or its officers or directors in their capacity as such that would
materially affect it.

            g. Intellectual Property. Each of the Company and CPPT represents
that it has the rights (including trade secrets and other unpatented and/or
unpatentable proprietary or confidential information, systems or procedures) and
other similar rights and proprietary knowledge (collectively, "Intangibles")
necessary for the conduct of its business as now being conducted. To its
knowledge, it is not infringing upon or in conflict with any right of any other
person with respect to any Intangibles. No adverse claims have been asserted by
any person to the ownership or use of any Intangibles that would materially
adversely affect its use of any Intangibles.

            h. No Materially Adverse Contracts, Etc. Each of the Company and
CPPT represents that it is not subject to any charter, corporate or other legal
restriction, or any judgment, decree, order, rule or regulation which in its
judgment has or is expected in the future to have a material adverse effect on
its operations or proposed operations. It is not a party to any contract or
agreement which in the judgment of its officers has or is expected to have a
material adverse effect on its operations. Neither the Company nor CPPT has
granted any registration rights, including piggyback rights, to any person or
entity, except pursuant to the terms of the acquisition of the Company by CPPT,
the related financing in May 2005, and this Agreement.

            i. Information. The Company and CPPT represent that, as of June 30,
2005, the PPM and any disclosure exhibits and schedules to this Agreement are
materially correct and do not contain an untrue statement of a material fact or
omit a material fact necessary to make the statements contained therein not
misleading. The PPM does not give effect to the business or operations of CPPT,
which is a company with no substantive operations, nor does the PPM give effect
to the recent combination of the Company and CPPT that closed on May 19, 2005.

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            j. Corporate Matters. In connection with the business combination of
the Company and CPPT and the transactions contemplated thereby and hereby, the
following actions are expected to be effected within such time after Closing as
is reasonably feasible: a proposed reincorporation of CPPT under the laws of the
State of Delaware; a proposed parent-subsidiary merger of CPPT and the Company
under the laws of the State of Delaware; a proposed name change of CPPT to
"Terra Insight Corporation" or such other corporate name as is selected by its
Board of Directors; and an increase in the authorized common stock of CPPT to
250,000,000 shares.

      4. COVENANTS.

            a. Use of Proceeds. CPPT shall use the proceeds from the sale of the
Securities for its working capital, including financing of up to $3 million of
TNEC activities as per the TNEC Agreement and Schedule 1 thereto, by using $1
million of the initial $2 million payment by Buyer and up to a further $2
million of the amount above $3 million paid to CPPT by Buyer as contemplated
herein.

            b. Reimbursement. If (i) Buyer, other than by reason of its own
negligence or misconduct, becomes involved in any capacity in any action,
proceeding or investigation brought by any shareholder of the Company or CPPT,
in connection with or as a result of the consummation of the transactions
contemplated by this Agreement, or if Buyer is impleaded in any such action,
proceeding or investigation by any Person, or (ii) Buyer, other than by reason
of its own negligence or misconduct or by reason of its trading of the Common
Stock in a manner that is illegal under the federal securities laws, becomes
involved in any capacity in any action, proceeding or investigation brought by
the SEC against or involving CPPT or in connection with or as a result of the
consummation of the transactions contemplated by this Agreement, or if Buyer is
impleaded in any such action, proceeding or investigation by any Person, then in
any such case, CPPT will reimburse Buyer for its reasonable legal expenses
incurred in connection therewith. The reimbursement obligations of CPPT under
this section shall be in addition to any liability which CPPT may otherwise
have. CPPT also agrees that neither Buyer nor any such affiliate, partner,
director, agent, employee or controlling person shall have any liability to CPPT
or any person or entity asserting claims on behalf of or in right of CPPT in
connection with or as a result of the consummation of this Agreement, except as
may be expressly and specifically provided in or contemplated by this Agreement.

            c. Registration Statement. The Buyer shall be entitled to the
benefit of certain registration rights with respect to the shares of Common
Stock issuable upon the conversion of the Securities. If the Company, at any
time from the date of this Agreement until such time that the shares underlying
the Securities paid for or irrevocably committed for are eligible for resale
pursuant to Rule 144, proposes to register any of its common stock under the
Securities Act for sale to the public (including, pursuant to any existing
commitments to register the Company's common stock), whether for its own account
or for the account of other security holders or both (except with respect to
registration statements on Forms S-4, S-8 and any successor forms thereto), each
such time the Company will give written notice to such effect to Buyer at least
10 days prior to such filing. Upon the written request of Buyer, received by the
Company within 10 days after the giving of any such notice by the Company, to
register any of the shares of Common Stock underlying the Securities purchased
and eligible to be included in such a registration statement pursuant to the
rules, interpretations and/or guidance of the Securities and Exchange
Commission, the Company will cause, at Company's expenses, such underlying
shares of Common Stock to be covered by the registration statement proposed to
be filed by the Company, all to the extent requisite to permit the sale or other
disposition by the holder of such shares so registered.

            d. Cooperation of Buyer. Buyer shall provide relevant and accurate
information to CPPT and shall cooperate with CPPT in the preparation and
submission of the registration statement.

      5. CONDITIONS TO THE COMPANY'S AND CPPT'S OBLIGATION. The obligation of
CPPT hereunder to issue and sell the Securities to Buyer at the Closing is
subject to the satisfaction, at or before the Closing Date of each of the
following conditions thereto, provided that these conditions are for the
Company's and CPPT's sole benefit and may be waived by the Company and/or CPPT
at any time in its sole discretion:

            a. Buyer shall have executed this Agreement, and delivered the same
to the Company and CPPT.

            b. Buyer shall have delivered and the Purchase Price shall have been
received in accordance with Section 1 and paid at a Closing.

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            c. The representations and warranties of Buyer shall be true and
correct in all material respects as of the date when made and as of the Closing
Date as though made at that time (except for representations and warranties that
speak as of a specific date), and Buyer shall have performed, satisfied and
complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by Buyer
at or prior to the Closing Date.

            d. No undisclosed litigation, statute, rule, regulation, executive
order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by or in any court or governmental authority of
competent jurisdiction or any self-regulatory organization having authority over
the matters contemplated hereby which prohibits the consummation of any of the
transactions contemplated by this Agreement.

      6. CONDITIONS TO BUYER'S OBLIGATION TO PURCHASE. The obligation of Buyer
to purchase the Securities at the Closing is subject to the satisfaction, at or
before the Closing Date of each of the following conditions, provided that these
conditions are for Buyer's sole benefit and may be waived by Buyer at any time
in their sole discretion:

            a. The Company and CPPT shall have executed this Agreement.

            b. The representations and warranties of the Company and CPPT shall
be true and correct in all material respects as of the date when made and as of
the Closing Date as though made at such time (except for representations and
warranties that speak as of a specific date) and the Company and CPPT shall have
performed, satisfied and complied in all material respects with the covenants,
agreements and conditions required by this Agreement to be performed, satisfied
or complied with by the Company and CPPT at or prior to the Closing Date.

            c. No litigation, statute, rule, regulation, executive order,
decree, ruling or injunction shall have been enacted, entered, promulgated or
endorsed by or in any court or governmental authority of competent jurisdiction
or any self-regulatory organization having authority over the matters
contemplated hereby which prohibits the consummation of any of the transactions
contemplated by this Agreement.

            d. No material undisclosed event shall have occurred which could
reasonably be expected to have a material adverse effect on the Company.

      7. GOVERNING LAW; MISCELLANEOUS.

            a. Governing Law. THIS AGREEMENT SHALL BE ENFORCED, GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS. THE PARTIES HERETO HEREBY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS AND THE NEW YORK
STATE COURTS LOCATED IN NEW YORK COUNTY IN THE STATE OF NEW YORK WITH RESPECT TO
ANY DISPUTE ARISING UNDER THIS AGREEMENT, THE AGREEMENTS ENTERED INTO IN
CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. BOTH
PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO THE
MAINTENANCE OF SUCH SUIT OR PROCEEDING. BOTH PARTIES FURTHER AGREE THAT SERVICE
OF PROCESS UPON A PARTY MAILED BY EXPRESS MAIL SHALL BE DEEMED IN EVERY RESPECT
EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR PROCEEDING.
NOTHING HEREIN SHALL AFFECT EITHER PARTY'S RIGHT TO SERVE PROCESS IN ANY OTHER
MANNER PERMITTED BY LAW. BOTH PARTIES AGREE THAT A FINAL NON-APPEALABLE JUDGMENT
IN ANY SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER.

                  NOTWITHSTANDING THE FOREGPOING, IN THE EVENT THE COMPANY IS
THE PARTY FIRST FILING A CLAIM FOR RESOLUTION OF A DISPUTED AMOUNT UNDER THE
TERMS OF THIS AGREEMENT ("DISPUTE"), SUCH DISPUTE SHALL BE FILED WITH THE
INTERNATIONAL CHAMBER OF COMMERCE ("ICC"), CONDUCTED IN PARIS, FRANCE, TO BE
DECIDED BY ONE OR MORE ARBITRATORS WITH FLUENCY IN ENGLISH APPOINTED IN
ACCORDANCE WITH THE ARBITRATION RULES OF THE ICC. EACH PARTY SHALL BEAR ITS OWN
FEES, EXPENSES AND COSTS IN CONNECTION WITH SUCH ARBITRATION.

                                       7
<PAGE>

            b. Counterparts. This Agreement must be signed in an original form
only. Facsimile signatures will not be accepted in this regard. This Agreement
shall become effective when original counterparts have been signed by each party
and delivered to the other party.

            c. Headings. The headings of this Agreement are for convenience of
reference only and shall not form part of, or affect the interpretation of, this
Agreement.

            d. Severability. In the event that any provision of this Agreement
is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of
law. Any provision hereof which may prove invalid or unenforceable under any law
shall not affect the validity or enforceability of any other provision hereof.

            e. Entire Agreement; Amendments. This Agreement and the instruments
referenced herein contain the entire understanding of the parties with respect
to the matters covered herein and therein and, except as specifically set forth
herein or therein, neither the Company nor CPPT nor Buyer makes any
representation, warranty, covenant or undertaking with respect to such matters.
Except as provided herein, no provision of this Agreement may be waived or
amended other than by an instrument in writing signed by the party to be charged
with enforcement.

            f. Notices. Any notices required or permitted to be given under the
terms of this Agreement shall be sent by express mail or delivered personally or
by courier (including a recognized overnight delivery service) and shall be
effective three days after being sent by express mail, or upon receipt, if
delivered personally or by courier (including a recognized overnight delivery
service), in each case addressed to a party. The addresses for such
communications shall be:

                           If to the Company:
                           Attn.: Roman Rozenberg, Chief Executive Officer
                           Terra Insight Corporation
                           99 Park Avenue, 16th Floor
                           New York, NY 10016
                           Telephone:  917-535-9500
                           Facsimile:  212-808-4155

                           With a copy (which shall not constitute notice) to:

                           Attn.:  Dan Brecher, Esq.
                           Law Offices of Dan Brecher
                           99 Park Avenue, 16th Floor
                           New York, NY 10016
                           Tel:  212-286-0747
                           Fax:  212-808-4155

                           If to CPPT:
                           Attn.: Roman Rozenberg
                           CompuPrint, Inc.
                           c/o Law Offices of Dan Brecher
                           99 Park Avenue, 16th Floor
                           New York, NY 10016
                           Telephone:  917-535-9500
                           Facsimile:  212-808-4155

                           With a copy (which shall not constitute notice) to:

                           Attn.:  Dan Brecher, Esq.
                           Law Offices of Dan Brecher
                           99 Park Avenue, 16th Floor
                           New York, NY 10016
                           Tel:  212-286-0747

                                       8
<PAGE>

                           Fax:  212-808-4155

                           If to Buyer:
                           At the address and facsimile number listed on the
signature page hereof.

Each party shall provide notice to the other party of any change in address.

            g. Successors and Assigns. This Agreement shall be binding upon and
inure to the benefit of the parties and their successors and assigns. Neither
the Company nor CPPT nor Buyer shall assign this Agreement or any rights or
obligations hereunder without the prior written consent of the other.
Notwithstanding the foregoing, subject to Section 2(f), any Buyer may assign its
rights hereunder to any person that purchases Securities in a private
transaction from Buyer or to any of its affiliates.

            h. Third Party Beneficiaries. This Agreement is intended for the
benefit of the parties hereto and their respective permitted successors and
assigns, and is not for the benefit of, nor may any provision hereof be enforced
by, any other person.

            i. Further Assurances. Each party shall do and perform, or cause to
be done and performed, all such further acts and things, and shall execute and
deliver all such other agreements, certificates, instruments and documents, as
the other party may reasonably request in order to carry out the intent and
accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

            j. No Strict Construction. The language used in this Agreement will
be deemed to be the language chosen by the parties to express their mutual
intent, and no rules of strict construction will be applied against any party.

            k. Survival. The representations, warranties and covenants made by
each of the Company and Buyer in this Agreement, the annexes, schedules and
exhibits hereto and in each instrument, agreement and certificate entered into
and delivered by them pursuant to this Agreement, shall survive the Closing and
the consummation of the transactions contemplated hereby. In the event of a
breach or violation of any of such representations, warranties or covenants, the
party to whom such representations, warranties or covenants have been made shall
have all rights and remedies for such breach or violation available to it under
the provisions of this Agreement, irrespective of any investigation made by or
on behalf of such party on or prior to the Closing Date.

            l. Indemnification.

                  (a) Each of the Company and CPPT hereby agree to indemnify and
hold harmless Buyer and its officers, directors, partners and members
(collectively, the "Buyer Indemnitees"), from and against any and all damages,
and agrees to reimburse Buyer Indemnitees for all reasonable out-of-pocket fees
and expenses (including the reasonable fees and expenses of legal counsel), in
each case promptly as incurred by the Buyer Indemnitees and to the extent
arising out of or in connection with:

                        (i) any material misrepresentation, omission of fact or
breach of any of its representations or warranties contained in this Agreement;
or

                        (ii) any material failure by it to perform in any
material respect any of its covenants, agreements, undertakings or obligations
set forth in this Agreement.

            (b) Buyer hereby agrees to indemnify and hold harmless the Company,
CPPT, and their officers, directors, partners and members (collectively, the
"Company Indemnitees"), from and against any and all damages, and agrees to
reimburse the Company Indemnitees for all reasonable out-of-pocket fees and
expenses (including the reasonable fees and expenses of legal counsel), in each
case promptly as incurred by the Company Indemnitees and to the extent arising
out of or in connection with:

                        (i) any material misrepresentation, omission of fact or
breach of any of any Buyer's representations or warranties contained in this
Agreement; or

                        (ii) any material failure by Buyer to perform in any
material respect any of its covenants, agreements, undertakings or obligations
set forth in this Agreement.

                                       9
<PAGE>

            (c) Promptly after receipt by either party hereto seeking
indemnification pursuant to this Section 7(l) (an "Indemnified Party") of
written notice of any investigation, claim, proceeding or other action in
respect of which indemnification is being sought (each, a "Claim"), the
Indemnified Party promptly shall notify the party from whom indemnification
pursuant to this Section 7(l) is being sought (the "Indemnifying Party") of the
commencement thereof; but the omission to so notify the Indemnifying Party shall
not relieve it from any liability that it otherwise may have to the Indemnified
Party, except to the extent that the Indemnifying Party is actually prejudiced
by such omission or delay. In connection with any Claim as to which both the
Indemnifying Party and the Indemnified Party are parties, the Indemnifying Party
shall be entitled to assume the defense thereof. Notwithstanding the assumption
of the defense of any Claim by the Indemnifying Party, the Indemnified Party
shall have the right to employ separate legal counsel and to participate in the
defense of such Claim, and the Indemnifying Party shall bear the reasonable
fees, out-of-pocket costs and expenses of such separate legal counsel to the
Indemnified Party if (and only if): (x) the Indemnifying Party shall have agreed
to pay such fees, out-of-pocket costs and expenses, (y) the Indemnified Party
reasonably shall have concluded that representation of the Indemnified Party and
the Indemnifying Party by the same legal counsel would not be appropriate due to
actual or, as reasonably determined by legal counsel to the Indemnified Party,
potentially differing interests between such parties in the conduct of the
defense of such Claim, or if there may be legal defenses available to the
Indemnified Party that are in addition to or disparate from those available to
the Indemnifying Party, or (z) the Indemnifying Party shall have failed to
employ legal counsel reasonably satisfactory to the Indemnified Party within a
reasonable period of time after notice of the commencement of such Claim. If the
Indemnified Party employs separate legal counsel in circumstances other than as
described in clauses (x), (y) or (z) above, the fees, costs and expenses of such
legal counsel shall be borne exclusively by the Indemnified Party. Except as
provided above, the Indemnifying Party shall not, in connection with any Claim
in the same jurisdiction, be liable for the fees and expenses of more than one
firm of legal counsel for the Indemnified Party (together with appropriate local
counsel). The Indemnifying Party shall not, without the prior written consent of
the Indemnified Party (which consent shall not unreasonably be withheld), settle
or compromise any Claim or consent to the entry of any judgment that does not
include an unconditional release of the Indemnified Party from all liabilities
with respect to such Claim or judgment.

                            [signature page follows]

                                       10
<PAGE>

      IN WITNESS WHEREOF, the undersigned Buyer and the Company have caused this
Agreement to be duly executed as of the date first above written.

THE COMPANY:                        TERRA INSIGHT CORPORATION

                                    By: Roman Rozenberg
                                        ----------------------------------------
                                        Roman Rozenberg, Chief Executive Officer

CPPT:                               COMPUPRINT, INC.

                                    By: /s/ Roman Rozenberg
                                        ----------------------------------------
                                        Roman Rozenberg, Chief Executive

BUYER:                              ENFICON ESTABLISHMENT

                                    By: /s/ Alexander Fedyaev
                                        ----------------------------------------
                                        Name:    Alexander Fedyaev
                                        Title:   Beneficiary Owner

                                    JURISDICTION OF INCORPORATION,
                                    ORGANIZATION OR FORMATION:  Liechtenstein

                                    ADDRESS: Liechtenstein
                                             Poststrasse 403
                                             FL-9491 Ruggell

                                    TELEPHONE:
                                              ------------------------
                                    FACSIMILE:
                                              ------------------------

                                    SECURITIES:
                                    Convertible Debenture
                                    Principal Amount: up to $5,000,000
                                    Purchase Price:  up to $5,000,000
                                    Initial Purchase Commitment: $2 million of
                                    such $5 million, to be paid on or before
                                    June 30, 2005

                                       11EXHIBIT 10.5

                                                EXHIBIT A to SPA of June 30,2005

THIS DEBENTURE AND THE SHARES ISSUABLE UPON THE CONVERSION OF THIS DEBENTURE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. EXCEPT AS
OTHERWISE SET FORTH HEREIN, OR IN THE SECURITIES PURCHASE AGREEMENT, NEITHER
THIS DEBENTURE NOR ANY OF SUCH SHARES MAY BE SOLD, PLEDGED, TRANSFERRED,
ASSIGNED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER SAID ACT OR, AN OPINION OF
COUNSEL, IN FORM, SUBSTANCE AND SCOPE, CUSTOMARY FOR OPINIONS OF COUNSEL IN
COMPARABLE TRANSACTIONS, THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR
UNLESS SOLD PURSUANT TO RULE 144 UNDER SUCH ACT.

                                COMPUPRINT, INC.

                            6% CONVERTIBLE DEBENTURE
                         Principal Amount: [$2,000,000]

Debenture No. [1]
Date of Issuance: [June 30, 2005]

      THIS DEBENTURE, issued to ENFICON ESTABLISHMENT (the "Holder") is a duly
authorized and issued Convertible Debenture of CompuPrint, Inc., a North
Carolina corporation (the "Company"), designated as its 6% Convertible Debenture
dated [June 30, 2005] (the "Debenture"), due on December 31, 2007 (the "Maturity
Date"). The obligations of the Company under this Debenture shall be secured by
2,000,000 shares of the Company's common stock.

      This Debenture has been executed and delivered pursuant to the Securities
Purchase Agreement, dated June 30, 2005 between the Company and the Holder (the
"Purchase Agreement"), and is subject to the terms and conditions of the
Purchase Agreement, which are, by this reference, incorporated herein and made a
part hereof. Capitalized terms used and not otherwise defined herein shall have
the meanings set forth for such terms in the Purchase Agreement.

      This Debenture is subject to the following additional provisions:

      1. The Company shall be entitled to withhold from all payments of interest
on this Debenture any amounts required to be withheld under the applicable
provisions of the United States income tax laws or other applicable laws at the
time of such payments, and the Holder shall execute and deliver all required
documentation in connection therewith.

      2. This Debenture has been issued subject to investment representations of
the Holder hereof and may be transferred or exchanged only in compliance with
the Securities Act of 1933, as amended (the "Act"), and other applicable state
and foreign securities laws. The Holder shall deliver written notice to the
Company of any proposed transfer of this Debenture. In the event of any proposed
transfer of this Debenture, the Company may require, prior to issuance of a new
Debenture in the name of such other person, that it receive reasonable transfer
documentation including legal opinions that the issuance of the Debenture in
such other name does not and will not cause a violation of the Act or any
applicable state or foreign securities laws. Prior to due presentment for
transfer of this Debenture, the Company and any agent of the Company may treat
the person in whose name this Debenture is duly registered on the Company's
Debenture Register as the owner hereof for the purpose of receiving payment as
herein provided and for all other purposes, whether or not this Debenture be
overdue, and neither the Company nor any such agent shall be affected by notice
to the contrary.

      3. The Holder of this Debenture is entitled, at its option, to convert at
any time the principal amount of this Debenture or any portion thereof, at the
Holder's election, into shares of Common Stock of the Company ("Conversion
Shares") at a conversion price for each share of Common Stock ("Conversion
Price") of $1.00 per share, subject to adjustment for stock splits and the like.
The number of shares of Common Stock issuable upon a conversion shall be
determined by the quotient obtained by dividing (x) the outstanding principal
amount of this Debenture to be converted by (y) the Conversion Price.

                                       1
<PAGE>

            If, upon any election of conversion of this Debenture, the Company's
issuance of Conversion Shares would cause it to violate any listing requirement
of the OTCBB or other public market through which the Company's Common Stock is
listed or quoted, then in lieu of such stock issuance, at the Holder's election,
the Company shall pay the Holder cash in an amount equal to the amount elected
for conversion.

            The issuance of certificates for shares of the Common Stock on
conversion of the Debenture shall be made without charge to the Holder thereof
for any documentary stamp or similar taxes that may be payable in respect of the
issue or delivery of such certificate, provided that the Company shall not be
required to pay any tax that may be payable in respect of any transfer involved
in the issuance and delivery of any such certificate upon conversion in a name
other than that of the Holder of such Debenture so converted and the Company
shall not be required to issue or deliver such certificates unless or until the
person or persons requesting the issuance thereof shall have paid to the Company
the amount of such tax or shall have established to the satisfaction of the
Company that such tax has been paid.

      4. The Company may repay in cash the principal amount of the Debenture, in
whole or in party, at any time prior to the Maturity Date, upon five business
days prior written notice. The Holder shall have five business days after such
notice to elect to convert the Debenture or accept cash payment. If the Holder
elects to convert the Debenture, the Holder shall be entitled to shares of
common stock as provided for herein; and, in the absence of a written election
of conversion given by the Holder and received by the Company within such time
period, the Company shall be entitled to make such cash payment. The Company
will pay the principal, and accrued interest, if any, by check or wire transfer
to the person who is the registered holder of this Debenture as of the fifth day
prior to the Maturity Date and addressed to such holder at the last address
appearing on the Debenture Register. The forwarding of such check or wire
transfer shall constitute a payment of principal (and interest, if any)
hereunder and shall satisfy and discharge the liability for principal (and
interest, if any) on this Debenture to the extent of the sum represented by such
check or wire transfer plus any amounts so deducted.

            Interest shall accrue on the principal amount of the Debenture at
the simple rate of 6% per annum from the date of issuance, and shall be payable
at maturity. Interest shall be calculated on the basis of a 365-day year.
Notwithstanding anything to the contrary herein, in the event of conversion of
the Debenture, in whole or in part, the Holder shall forfeit any accrued
interest on the converted principal amount.

      5. The Debenture shall be subject to a mandatory conversion in the event
that the Company's non-insider Common Stock trades in the public securities
market at a price of $2.00 per share or more with a mean average weekly volume
of 250,000 shares or more in eight (8) consecutive weeks.

      6. Conversion of all or a part of this Debenture shall be effectuated by
surrendering this Debenture to the Company (if such Conversion will convert all
outstanding principal) together with the form of conversion notice attached
hereto as Exhibit A (the "Notice of Conversion" bearing the original signature
), executed by the Holder of this Debenture evidencing such Holder's intention
to convert this Debenture or a specified portion (as above provided) hereof, and
accompanied, if required by the Company, by proper assignment hereof in blank.
No fraction of a share or scrip representing a fraction of a share will be
issued on conversion, but the number of shares issuable shall be rounded up to
the nearest whole share. The date on which Notice of Conversion is given (the
"Conversion Date") shall be deemed to be the date on which the Holder delivers
the Notice of Conversion duly executed with an original signature to the
Company. The Company shall use its best efforts to deliver certificate(s)
representing Common Stock upon conversion to the Holder within five (5) Trading
Days from the date the Notice of Conversion is delivered to the Company
("Delivery Date"). Delivery of shares upon conversion shall be made to the
address specified by the Holder in the Notice of Conversion.

      7. No provision of this Debenture shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of this
Debenture at the time, place, and in the coin or currency or shares of Common
Stock herein prescribed. This Debenture is a direct obligation of the Company.

            The Company covenants that it will at all times reserve and keep
available out of its authorized and unissued shares of Common Stock solely for
the purpose of issuance upon conversion of the Debenture, each as herein
provided, free from preemptive rights or any other actual contingent purchase
rights of persons other than the Holder, not less than such number of shares of
the Common Stock as shall (subject to any additional requirements of the Company
as to reservation of such shares set forth in the Purchase Agreement) be
issuable (taking into account the adjustments and restrictions provided for
herein) upon the conversion of the outstanding principal amount of the

                                       2
<PAGE>

Debenture hereunder. The Company covenants that all shares of Common Stock that
shall be so issuable shall, upon issue, be duly and validly authorized, issued
and fully paid, nonassessable.

      8. No recourse shall be had for the payment of the principal of (or the
interest on) this Debenture, or for any claim based hereon, or otherwise in
respect hereof, against any incorporator, shareholder, employee, officer or
director, as such, past, present or future, of the Company or any successor
corporation, whether by virtue of any constitution, statute or rule of law, or
by the enforcement of any assessment or penalty or otherwise, all such liability
being, by the acceptance hereof and as part of the consideration for the issue
hereof, expressly waived and released.

      9. (a) In case of any stock split or reverse stock split, stock dividend,
reclassification of the common stock, recapitalization, merger or consolidation,
or like capital adjustment affecting the Common Stock of the Company, except in
connection with the contemplated reincorporation of the Company under the laws
of the State of Delaware and in connection with the contemplated
parent-subsidiary merger of the Company and its wholly-owned subisidary, Terra
Insight Corporation, a Delaware corporation, the Conversion Price and the number
of Conversion Shares issuable upon conversion of the Debenture shall be adjusted
in a fair, equitable and reasonable manner so that the Holder of this Debenture
shall be entitled to receive the kind and number of shares which the Holder
would have owned had the Debenture been converted in advance of such event.

            (b) All calculations under this Section shall be made to the nearest
cent or the nearest 1/100th of a share, as the case may be. For purposes of this
Section, the number of shares of Common Stock deemed to be outstanding as of a
given date shall be the sum of the number of shares of Common Stock (excluding
treasury shares, if any) outstanding on a fully diluted basis.

            (c) Whenever the Conversion Price is adjusted pursuant to any of
Section, the Company shall promptly mail to each Holder a notice setting forth
the Conversion Price after such adjustment and setting forth a brief statement
of the facts requiring such adjustment.

      10. The Holder of the Debenture, by acceptance hereof, agrees that this
Debenture is being acquired for investment and that such Holder will not offer,
sell or otherwise dispose of this Debenture or the Conversion Shares except
under circumstances which will not result in a violation of the Act or any
applicable state Blue Sky or foreign laws or similar laws relating to the sale
of securities.

      11. The following shall constitute an "Event of Default":

            a. The Company shall default in the payment of principal on this
Debenture on maturity and same shall continue for a period of twenty business
days; or

            b. Any of the material representations or warranties made by the
Company herein or in the Purchase Agreement in connection with the execution and
delivery of this Debenture or the Purchase Agreement shall be false or
misleading in any material respect at the time made; or

            c. The Company fails to issue shares of Common Stock to the Holder
or to cause its Transfer Agent to issue shares of Common Stock upon proper
exercise by the Holder of the conversion rights of the Holder in accordance with
the terms of this Debenture, fails to transfer or to cause its Transfer Agent to
transfer any certificate for shares of Common Stock issued to the Holder upon
conversion of this Debenture as and when required by this Debenture, and such
transfer is otherwise lawful, or fails to remove any restrictive legend or to
cause its Transfer Agent to transfer any certificate or any shares of Common
Stock issued to the Holder upon conversion of this Debenture as and when
required by this Debenture, the Purchase Agreement and such legend removal is
otherwise lawful, and any such failure shall continue uncured for twenty
business days; or

            d. The Company shall, without cause, fail to perform or observe, in
any material respect, any other material covenant, term, provision, condition,
agreement or obligation of the Company under the Purchase Agreement, or this
Debenture and such failure shall continue uncured for a period of thirty days
after written notice from the Holder of such failure; or

            e. The Company shall (1) admit in writing its inability to pay its
debts generally as they mature; (2) make an assignment for the benefit of
creditors or commence proceedings for its dissolution; or (3)

                                       3
<PAGE>

apply for or consent to the appointment of a trustee, liquidator or receiver for
its or for a substantial part of its property or business; or

            f. A trustee, liquidator or receiver shall be appointed for the
Company or for a substantial part of its property or business without its
consent and shall not be discharged within sixty (60) days after such
appointment; or

            g. Any governmental agency or any court of competent jurisdiction at
the instance of any governmental agency shall assume custody or control of the
whole or any substantial portion of the properties or assets of the Company and
shall not be dismissed within sixty (60) days thereafter; or

            h. Any money judgment, writ or warrant of attachment, or similar
process in excess of Three Hundred Thousand Dollars ($300,000) in the aggregate
shall be entered or filed against the Company or any of its properties or other
assets and shall remain unpaid, unvacated, unbonded or unstayed for a period of
sixty (60) days or in any event later than five (5) days prior to the date of
any proposed sale thereunder; or

            i. Bankruptcy, reorganization, insolvency or liquidation proceedings
or other proceedings for relief under any bankruptcy law or any law for the
relief of debtors shall be instituted by or against the Company and, if
instituted against the Company, shall not be dismissed within sixty (60) days
after such institution or the Company shall by any action or answer approve of,
consent to, or acquiesce in any such proceedings or admit the material
allegations of, or default in answering a petition filed in any such proceeding.

      Then, or at any time thereafter, and in each and every such case, unless
such Event of Default shall have been waived in writing by the Holder (which
waiver shall not be deemed to be a waiver of any subsequent default), at the
option of the Holder, and in the Holder's sole discretion, the Holder may
consider this Debenture immediately due and payable, without presentment,
demand, protest or notice of any kind, all of which are hereby expressly waived,
anything herein or in any note or other instruments contained to the contrary
notwithstanding, and the Holder may immediately enforce any and all of the
Holder's rights and remedies provided herein or any other rights or remedies
afforded by law.

      12. If this Debenture shall be mutilated, lost, stolen or destroyed, the
Company shall execute and deliver, in exchange and substitution for and upon
cancellation of a mutilated Debenture, or in lieu of or in substitution for a
lost, stolen or destroyed Debenture, a new Debenture for the principal amount of
this Debenture so mutilated, lost, stolen or destroyed but only upon receipt of
evidence of such loss, theft or destruction of such Debenture, and of the
ownership hereof, and indemnity, if requested, all reasonably satisfactory to
the Company.

      13. Nothing contained in this Debenture shall be construed as conferring
upon the Holder the right to vote or to receive dividends or to consent or
receive notice as a shareholder in respect of any meeting of shareholders or any
rights whatsoever as a shareholder of the Company, unless and to the extent
converted in accordance with the terms hereof.

      14. Miscellaneous.

            (a) Jurisdiction. This Debenture shall be binding upon any
successors or assigns of the Company. This Debenture shall constitute a contract
under the laws of New York without regard to its conflict of law, principles or
rules, and be subject to governing law provisions set forth in Section 7 of the
Securities Purchase Agreement dated June 30, 2005.

            (b) Restrictions. The Holder acknowledges that the Conversion Shares
acquired upon the conversion of this Debenture, if not registered, will have
restrictions upon resale imposed by state and federal securities laws.

            (c) Nonwaiver and Expenses. No course of dealing or any delay or
failure to exercise any right hereunder on the part of Holder shall operate as a
waiver of such right or otherwise prejudice Holder's rights, powers or remedies.
If the Company willfully and knowingly fails to comply with any provision of
this Debenture, which results in any material damages to the Holder, the Company
shall pay to Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys' fees, including
those of

                                       4
<PAGE>

appellate proceedings, incurred by Holder in collecting any amounts due pursuant
hereto or in otherwise enforcing any of its rights, powers or remedies
hereunder.

            (d) Notices. Any notice, request or other document required or
permitted to be given or delivered to the Holder by the Company shall be
delivered in accordance with the notice provisions of the Purchase Agreement.

            (e) Limitation of Liability. No provision hereof, in the absence of
any affirmative action by Holder to exercise this Debenture or purchase
Conversion Shares, and no enumeration herein of the rights or privileges of
Holder, shall give rise to any liability of Holder for the purchase price of any
Common Stock or as a stockholder of the Company, whether such liability is
asserted by the Company or by creditors of the Company.

            (f) Remedies. Holder, in addition to being entitled to exercise all
rights granted by law, including recovery of damages, will be entitled to
specific performance of its rights under this Debenture. The Company agrees that
monetary damages would not be adequate compensation for any loss incurred by
reason of a breach by it of the provisions of this Debenture and hereby agrees
to waive the defense in any action for specific performance that a remedy at law
would be adequate.

            (g) Successors and Assigns. Subject to applicable securities laws,
this Debenture and the rights and obligations evidenced hereby shall inure to
the benefit of and be binding upon the successors of the Company and the
successors and permitted assigns of Holder. The provisions of this Debenture are
intended to be for the benefit of all Holder from time to time of this Debenture
and shall be enforceable by any such Holder or holder of Conversion Shares.

            (h) Indemnification. The Company agrees to indemnify and hold
harmless the Holder from and against any liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, claims, costs, attorneys' fees,
expenses and disbursements of any kind which may be imposed upon, incurred by or
asserted against the Holder in any manner relating to or arising out of any
failure by the Company to perform or observe in any material respect any of its
covenants, agreements, undertakings or obligations set forth in this Debenture;
provided, however, that the Company will not be liable hereunder to the extent
that any liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, claims, costs, attorneys' fees, expenses or disbursements are
found in a final non-appealable judgment by a court to have resulted from the
negligence, bad faith or willful misconduct in its capacity as a stockholder or
Debenture holder of the Company.

            (i) Amendment. This Debenture may be modified or amended or the
provisions hereof waived with the written consent of the Company and the Holder.

            (j) Severability. Wherever possible, each provision of this
Debenture shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Debenture shall be prohibited by or
invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such
provisions or the remaining provisions of this Debenture.

            (k) Headings. The headings used in this Debenture are for the
convenience of reference only and shall not, for any purpose, be deemed a part
of this Debenture.

                            [signature page follows]

                                       5
<PAGE>

      IN WITNESS WHEREOF, the Company has caused this Convertible Debenture to
be duly executed by a duly authorized officer as of the date first above
indicated.

Dated:  [June 30, 2005]

                                       COMPUPRINT, INC.

                                       By: /s/ Roman Rozenberg
                                           -------------------------------------
                                           Name: /s/ R. Rozenberg
                                                 -------------------------------
                                           Title: CEO
                                                  ------------------------------

                                       /s/ Alexander Fedyaev

                                       6
<PAGE>

                                    EXHIBIT A

                              NOTICE OF CONVERSION

   (To be Executed by the Registered Holder in order to Convert the Debenture)

      The undersigned hereby irrevocably elects to convert $ ________________ of
the principal amount of the above Debenture No. [1] into Shares of Common Stock
of CompuPrint, Inc. (the "Company") according to the conditions hereof, as of
the date written below. If shares are to be issued in the name of a person other
than the undersigned, the undersigned will pay all transfer taxes payable with
respect thereto and is delivering herewith such certificates and opinions as
reasonably requested by the Company in accordance therewith. No fee will be
charged to the holder for any conversion, except for such transfer taxes, if
any.

Date of Conversion:
                   -------------------------------------------------------------

Conversion Price:
                 ---------------------------------------------------------------

Number of Shares of Common Stock to be Issued:
                                              ----------------------------------

Name:
     ---------------------------------------------------------------------------

Signature:
          ----------------------------------------------------------------------

Address:
        ------------------------------------------------------------------------

                                       7

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