Document:

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                                                                    EXHIBIT 10.3

                          REGISTRATION RIGHTS AGREEMENT

                  THIS REGISTRATION RIGHTS AGREEMENT, dated as of July 6, 2007
(this "Agreement"), is made by and among GLOBAL BEVERAGE SOLUTIONS, INC., a
Nevada corporation, with headquarters located at 2 South University Drive,
Plantation, Florida 33324 (the "Company"), and the entity named on the signature
page hereto (the "Investor").

                              W I T N E S S E T H:

                  WHEREAS, upon the terms and subject to the conditions of the
Note Purchase Agreement, dated as of even date, between the Investor and the
Company (the "Purchase Agreement"; capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Purchase Agreement), the
Company has agreed to issue and sell to the Investor the Convertible Note; and

                  WHEREAS, the Convertible Note is convertible into shares of
Common Stock (the "Conversion Shares");

                  WHEREAS, to induce the Investor to execute and deliver the
Purchase Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and
regulations thereunder, or any similar successor statute (collectively, the
"Securities Act"), with respect to the Registrable Securities (as defined
below);

                  NOW, THEREFORE, in consideration of the premises and the
mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Investor hereby agree as follows:

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

                  (a) "De-Election Date" shall mean the date on which the
Company files the De-Election Notice with the SEC.

                  (b) "De-Election Notice" shall mean the Form N-54C filed by
the Company with the SEC to withdraw its election to be regulated as a business
development company under the Investment Company Act of 1940.

                  (c) "Effective Date" means the date the SEC declares a
Registration Statement covering Registrable Securities and otherwise meeting the
conditions contemplated hereby to be effective.

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                  (d) "Investor" means the Investor and any permitted transferee
or assignee who agrees to become bound by the provisions of this Agreement in
accordance with Section 9 hereof and who holds the Convertible Note or
Registrable Securities.

                  (e) "Payment Shares" means shares of Common Stock issued by
the Company as provided in Section 2(b) below.

                  (f) "Potential Material Event" means any of the following: (i)
the possession by the Company of material information not ripe for disclosure in
a registration statement, which shall be evidenced by a determination in good
faith by the Board of Directors of the Company that disclosure of such
information in the registration statement would be detrimental to the business
and affairs of the Company or (ii) any material engagement or activity by the
Company which would, in the good faith determination of the Board of Directors
of the Company, be adversely affected by disclosure in a registration statement
at such time; in each case where such determination shall be accompanied by a
good faith determination by the Board of Directors of the Company that the
registration statement would be materially misleading absent the inclusion of
such information.

                  (g) "Register," "Registered," and "Registration" refer to a
registration effected by preparing and filing a Registration Statement or
Statements in compliance with the Securities Act and pursuant to Rule 415 under
the Securities Act or any successor rule providing for offering securities on a
continuous basis ("Rule 415"), and the declaration or ordering of effectiveness
of such Registration Statement by the United States Securities and Exchange
Commission (the "SEC").

                  (h) "Registrable Securities" means, collectively, the
Conversion Shares, and the Payment Shares.

                  (i) "Registration Statement" means a registration statement of
the Company under the Securities Act covering Registrable Securities on Form S-1
or other appropriate form which shall include only the Registrable Securities
and shares of Common Stock held by the Placement Agent.

                  (j) "Required Filing Date" means sixty (60) days after the
De-Election Date.

                  2. REGISTRATION.

                  (a) MANDATORY REGISTRATION.

                  (i) The Company shall prepare and file with the SEC, not later
than the Required Filing Date, either a Registration Statement or an amendment
to an existing Registration Statement, in either event registering for resale by
the Investor a sufficient number of shares of Common Stock for the Investor to
sell the Registrable Securities, but in no event less than the number of shares
equal to one hundred fifty percent (150%) of the aggregate of (x) the number of
shares into which the Convertible Note would be convertible at the time of

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filing of such Registration Statement (assuming for such purposes that the
entire principal amount of the Convertible Note had been converted into
Conversion Shares in accordance with the terms of the Purchase Agreement,
whether or not such conversion had in fact occurred as of such date). Unless
otherwise specifically agreed to in writing in advance by the Investor, the
Registration Statement shall state that, in accordance with Rules 416 and 457
under the Securities Act, it also covers such indeterminate number of additional
shares of Common Stock as may become issuable upon conversion of the Convertible
Note to prevent dilution resulting from stock splits or stock dividends. The
Company will use its reasonable best efforts to cause such Registration
Statement to be declared effective on a date (the "Required Effective Date")
which is no later than the earlier of (Y) five (5) days after oral or written
notice by the SEC that it may be declared effective or (Z) seventy five (75)
days after the Required Filing Date.

                  (ii) If at any time (an "Increased Registered Shares Date")
after a Registration Statement has been filed with the SEC, the Investor
determines that the number of shares of Common Stock represented by the
Registrable Shares, issued or to be issued as contemplated by the Transaction
Agreements, exceeds the aggregate number of shares of Common Stock then
registered or sought to be registered in a Registration Statement which has not
yet been declared effective, the Company shall, upon the written request of the
Investor, either

                  (X) amend the relevant Registration Statement filed by the
                  Company pursuant to the preceding provisions of this Section
                  2, if such Registration Statement has not been declared
                  effective by the SEC at that time, to register, in the
                  aggregate, at least the number of shares (the "Increased
                  Shares Amount") equal to (A) the number of shares theretofore
                  issued on conversion of the Convertible Note, plus the number
                  of shares into which the unconverted Convertible Note would be
                  convertible at the date of such filing (assuming for such
                  purposes that the entire principal amount of the Convertible
                  Note had been converted into Conversion Shares in accordance
                  with the terms of the Purchase Agreement, whether or not such
                  conversion had in fact occurred as of such date), and

                  (Y) if such Registration Statement has been declared effective
                  by the SEC at that time, file with the SEC an additional
                  Registration Statement (an "Additional Registration
                  Statement") to register the number of shares equal to the
                  excess of the Increased Shares Amount over the aggregate
                  number of shares of Common Stock already registered.

The Company will use its reasonable best efforts to cause such Registration
Statement to be declared effective on a date which is no later than (q) with
respect to a Registration Statement under clause (X) of this subparagraph (ii),
the Required Effective Date and (r) with respect to an Additional Registration
Statement, the earlier of (I) five (5) days after notice by the SEC that it may
be declared effective or (II) sixty (60) days after the Increased Registered
Shares Date.

                  (b) PAYMENTS BY THE COMPANY.

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                           (i) If the Registration Statement covering the
Registrable Securities is not filed with the SEC by the Required Filing Date,
the Company will make payment to the Investor in such amounts and at such times
as shall be determined pursuant to this Section 2(b).

                           (ii) If the Registration Statement covering the
Registrable Securities is not effective by the relevant Required Effective Date,
then the Company will make payments to the Investor in such amounts and at such
times as shall be determined pursuant to Section 2(b).

                           (iii) The amount (the "Periodic Amount") to be paid
by the Company to the Investor shall be determined as of each Computation Date
(as defined below) and such amount shall be equal to the Periodic Amount
Percentage (as defined below) of the Purchase Price for the Convertible Note
held by the Investor for the period from the date following the relevant
Required Filing Date or the Required Effective Date, as the case may be, to the
first relevant Computation Date, and thereafter to each subsequent Computation
Date. The "Periodic Amount Percentage" means (A) one percent (1%) of the
Purchase Price for the first two Computation Dates after the relevant Required
Filing Date; and (B) two percent (2%) of the Purchase Price with respect to any
Computation Date thereafter. Anything in the preceding provisions to this
paragraph (iii) to the contrary notwithstanding, after the relevant Effective
Date the Purchase Price shall be deemed to refer to the principal amount of the
Convertible Note not yet converted. By way of illustration and not in limitation
of the foregoing, if the Registration Statement is filed on or before the
Required Filing Date, but is not declared effective until one hundred and twenty
(120) days after the relevant Required Effective Date, the Periodic Amount will
aggregate five percent (5%) of the Purchase Price (1% for days 1-30, plus 1% for
days 31-60, plus 1% for days 61-90, plus 2% for days 90-120).

                           (iv) Each Periodic Amount will be payable by the
Company, except as provided in the other provisions of subparagraph (v), in cash
or other immediately available funds to the Investor (1) on the day after the
Required Filing Date or the Required Effective Date, as the case may be, and (2)
on the earlier of (A) each thirtieth day thereafter, or (B) the third business
day after the date the Registration Statement is filed or declared effective.

                           (v) Notwithstanding the provisions of the immediately
preceding subparagraph (iv),

         (i) at the option of the Company, exercisable in its discretion on the
         date the Periodic Amount is due; provided, however, that the Company
         may exercise this discretion if, but only if the Registration Statement
         covering the Payment Shares is then effective; or

         (ii) at the option of the Investor, exercisable in its sole and
         absolute discretion by written notice to the Company at any time before
         the Periodic Amount is paid,

all or a portion of the Periodic Amount shall be paid by the issuance of
additional shares of Common Stock to such Investor ("Payment Shares") in an
amount equal to the Periodic Amount being paid thereby divided by the then
applicable Conversion Rate; provided, further that the delivery date for the

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Payment Shares shall be three (3) business days after the date the Periodic
Amount is due (if the election is made by the Company) or after the Investor
gives the notice contemplated by clause (ii) of this subparagraph.

                           (vi) The parties acknowledge that the damages which
may be incurred by the Investor if the Registration Statement is not filed by
the Required Filing Date or the Registration Statement has not been declared
effective by the Required Effective Date may be difficult to ascertain. The
parties agree that the amounts payable pursuant to the foregoing provisions of
this Section 2(b) represent a reasonable estimate on the part of the parties, as
of the date of this Agreement, of the amount of such damages.

                           (vii) Notwithstanding the foregoing, the amounts
payable by the Company pursuant to this provision shall not be payable to the
extent any delay in the filing of the Registration Statement occurs because of
an act of, or a failure to act or to act timely by the Investor or its counsel.
Moreover, if the Company timely files a Registration Statement or an Additional
Registration Statement, which, as may be relevant, complies with the provisions
of Section 2(a) of the Agreement and the SEC raises issues relating to the
applicability of Rule 415 to the number of shares sought to be registered under
such Registration Statement, the provisions regarding the accrual of Periodic
Amounts shall be suspended from the date of the Company's receipt of such
communication from the SEC until the resolution of such issues.

                           (viii) "Computation Date" means (A) the date which is
the earlier of (1) thirty (30) days after the Required Filing Date or any
relevant Required Effective Date, as the case may be, or (2) the date after the
Required Filing Date or such Required Effective Date on which the Registration
Statement is filed (with respect to payments due as contemplated by Section 2(b)
hereof) or is declared effective and (B) each date which is the earlier of (1)
thirty (30) days after the previous Computation Date or (2) the date after the
previous Computation Date on which the Registration Statement is filed (with
respect to payments due as contemplated by Section 2(b) hereof) or is declared
effective.

                           (ix) Notwithstanding anything herein to the contrary,
the remedy set forth in this Section 2(b) shall be the sole remedy for the
Investor if the Registration Statement covering the Registrable Securities is
not filed with the SEC by the Required Filing Date or if the Registration
Statement covering the Registrable Securities is not effective by the relevant
Required Effective Date.

                  3. OBLIGATIONS OF THE COMPANY. In connection with the
registration of the Registrable Securities, the Company shall do each of the
following:

                  (a) Prepare promptly, and file with the SEC by the Required
Filing Date, a Registration Statement with respect to not less than the number
of Registrable Securities provided in Section 2(a) above, and thereafter use its
reasonable best efforts to cause such Registration Statement relating to
Registrable Securities to become effective by the Required Effective Date and
keep the Registration Statement effective at all times, other than during
Permitted Suspension Periods, during the period (the "Registration Period")
continuing until the earlier of (i) the date when the Investor may sell all
Registrable Securities under Rule 144 without volume or other restrictions or
limits or (ii) the date the Investor no longer owns any of the Registrable

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Securities, which Registration Statement (including any amendments or
supplements thereto and prospectuses contained therein) shall not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances in which they were made, not misleading;

                  (b) Prepare and file with the SEC such amendments (including
post-effective amendments) and supplements to the Registration Statement and the
prospectus (the "Prospectus") used in connection with the Registration Statement
as may be necessary to keep the Registration Statement effective at all times
during the Registration Period (except during Permitted Suspension Periods),
and, during the Registration Period, comply with the provisions of the
Securities Act with respect to the disposition of all Registrable Securities
covered by the Registration Statement until such time as all of such Registrable
Securities have been disposed of in accordance with the intended methods of
disposition by the seller or sellers thereof as set forth in the Registration
Statement;

                  (c) Permit a single firm of counsel designated by the Investor
(which, until further notice, shall be deemed to be Krieger & Prager LLP, Attn:
Samuel Krieger, Esq., which firm has requested to receive such notification;
each, an "Investor's Counsel") to review the Registration Statement and all
amendments and supplements thereto a reasonable period of time (but not less
than three (3) business days) prior to their filing with the SEC, and not file
any document in a form to which such counsel reasonably objects, unless the
Company reasonably determines that such document is required by law to be so
filed;

                  (d) Notify the Investor and the Investor's Counsel and any
managing underwriters immediately (and, in the case of (i)(A) below, not less
than three (3) business days prior to such filing) and (if requested by any such
person) confirm such notice in writing no later than one (1) business day
following the day (i)(A) when a Prospectus or any Prospectus supplement or
post-effective amendment to the Registration Statement is proposed to be filed;
(B) whenever the SEC notifies the Company whether there will be a "review" of
such Registration Statement; (C) whenever the Company receives (or a
representative of the Company receives on its behalf) any oral or written
comments from the SEC in respect of a Registration Statement (copies or, in the
case of oral comments, summaries of such comments shall be promptly furnished by
the Company to the Investor); and (D) with respect to the Registration Statement
or any post-effective amendment, when the same has become effective; (ii) of any
request by the SEC or any other Federal or state governmental authority for
amendments or supplements to the Registration Statement or Prospectus or for
additional information; (iii) of the issuance by the SEC of any stop order
suspending the effectiveness of the Registration Statement covering any or all
of the Registrable Securities or the initiation of any proceedings for that
purpose; (iv) if at any time any of the representations or warranties of the
Company contained in any agreement (including any underwriting agreement)
contemplated hereby ceases to be true and correct in all material respects; (v)
of the receipt by the Company of any notification with respect to the suspension
of the qualification or exemption from qualification of any of the Registrable
Securities for sale in any jurisdiction, or the initiation or threatening of any
proceeding for such purpose; and (vi) of the occurrence of any event that to the

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best knowledge of the Company makes any statement made in the Registration
Statement or Prospectus or any document incorporated or deemed to be
incorporated therein by reference untrue in any material respect or that
requires any revisions to the Registration Statement, Prospectus or other
documents so that, in the case of the Registration Statement or the Prospectus,
as the case may be, it will not contain any untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading. In addition, the Company shall furnish the Investor's
Counsel with copies of all intended written responses to the comments
contemplated in clause (C) of this Section 3(d) not later than one (1) business
day in advance of the filing of such responses with the SEC so that the Investor
shall have the opportunity to comment thereon;

                  (e) Furnish to the Investor and to Investor's Counsel (i)
promptly after the same is prepared and publicly distributed, filed with the
SEC, or received by the Company, one (1) copy of the Registration Statement,
each preliminary prospectus and prospectus, and each amendment or supplement
thereto, and (ii) such number of copies of a prospectus, and all amendments and
supplements thereto and such other documents, as the Investor may reasonably
request in order to facilitate the disposition of the Registrable Securities
owned by the Investor;

                  (f) As promptly as practicable after becoming aware thereof,
notify the Investor of the happening of any event of which the Company has
knowledge, as a result of which the prospectus included in the Registration
Statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading, and, subject to Section 4(c), use its best efforts
promptly to prepare a supplement or amendment to the Registration Statement or
other appropriate filing with the SEC to correct such untrue statement or
omission, and deliver a number of copies of such supplement or amendment to the
Investor as the Investor may reasonably request;

                  (g) [intentionally omitted ]

                  (h) Comply with Regulation FD or any similar rule or
regulation regarding the dissemination of information regarding the Company, and
in furtherance of the foregoing, and not in limitation thereof, not disclose to
the Investor any non-public material information regarding the Company;

                  (i) Use its reasonable efforts to maintain the quotation of
the Common Stock on the over-the-counter market;

                  (j) Maintain a transfer agent ("Transfer Agent") and
registrar, which may be a single entity, for the Common Stock;

                  (k) Cooperate with the Investor to facilitate the timely
preparation and delivery of certificates for the Registrable Securities to be
offered pursuant to the Registration Statement and enable such certificates for
the Registrable Securities to be in such denominations or amounts as the case
may be, as the Investor may reasonably request, and, within five (5) business
days after a Registration Statement which includes Registrable Securities is

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ordered effective by the SEC, the Company shall deliver, and shall cause legal
counsel selected by the Company to deliver, to the Transfer Agent for the
Registrable Securities (with copies to the Investor) an appropriate instruction
of such counsel, which shall include, without limitation, directions to the
Transfer Agent to issue certificates of Registrable Securities (including
certificates for Registrable Securities to be issued after the Effective Date
and replacement certificates for Registrable Securities previously issued)
without legends or other restrictions, subject to compliance with applicable
law, including, without limitation, prospectus delivery requirements; and

                  (l) Take all other reasonable actions necessary to expedite
and facilitate disposition by the Investor of the Registrable Securities
pursuant to the Registration Statement.

                  4. OBLIGATIONS OF THE INVESTOR. In connection with the
registration of the Registrable Securities, the Investor shall have the
following obligations:

                  (a) The Investor agrees to cooperate with the Company as
reasonably requested by the Company in connection with the preparation and
filing of the Registration Statement hereunder, unless the Investor has notified
the Company in writing of such Investor's election to exclude all of such
Investor's Registrable Securities from the Registration Statement;

                  (b) The Investor agrees that, upon receipt of any notice from
the Company of the happening of any event of the kind described in Section
3(d)(iii) or 3(f), above, the Investor will immediately discontinue disposition
of Registrable Securities pursuant to the Registration Statement covering such
Registrable Securities until the Investor's receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(d)(iii) or 3(f)
and, if so directed by the Company, the Investor shall deliver to the Company
(at the expense of the Company) or destroy (and deliver to the Company a
certificate of destruction) all copies in the Investor's possession, of the
prospectus covering such Registrable Securities current at the time of receipt
of such notice;

                  (c) Notwithstanding anything in this Agreement to the
contrary, if at any time or from time to time after the date of effectiveness of
the Registration Statement, the Company notifies the Investor in writing that
the effectiveness of the Registration Statement is suspended for any reason,
whether due to a Potential Material Event or otherwise, the Investor shall not
offer or sell any Registrable Securities, or engage in any other transaction
involving or relating to the Registrable Securities, from the time of the giving
of such notice until the Investor receives written notice from the Company that
such the effectiveness of the Registration Statement has been restored, whether
because the Potential Material Event has been disclosed to the public or it no
longer constitutes a Potential Material Event or otherwise; provided, however,
that the Company may not so suspend the right to such holder of Registrable
Securities during the periods the Registration Statement is required to be in
effect other than during a Permitted Suspension Period. The term "Permitted
Suspension Period" means up to two such suspension periods during any
consecutive 12-month period, each of which suspension period shall not either
(i) be for more than ten (10) business days or (ii) begin less than ten (10)
business days after the last day of the preceding suspension (whether or not
such last day was during or after a Permitted Suspension Period)

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                  5. EXPENSES OF REGISTRATION. (a) All reasonable expenses
(other than underwriting discounts and commissions of the Investor) incurred in
connection with registrations, filings or qualifications pursuant to Section 3,
but including, without limitation, all registration, listing, and qualifications
fees, printers and accounting fees, the fees and disbursements of counsel for
the Company shall be borne by the Company.

                  (b) The Company has not, as of the date hereof, nor shall the
Company, on or after the date of this Agreement, enter into any agreement with
respect to its securities that is inconsistent with the rights granted to the
Investor in this Agreement or otherwise conflicts with the provisions hereof.

                  6. INDEMNIFICATION. In the event any Registrable Securities
are included in a Registration Statement under this Agreement:

                  (a) To the extent permitted by law, the Company will indemnify
and hold harmless the Investor, the directors, if any, of the Investor, the
officers, if any, of the Investor, and each person who controls the Investor
within the meaning of Section 15 of the Securities Act (each, an "Investor
Indemnified Party"), against any losses, claims, damages, liabilities or
expenses (joint or several) incurred (collectively, "Claims") to which any of
them may become subject under the Securities Act, the Securities Exchange Act of
1934, as amended (the "Exchange Act") or otherwise, insofar as such Claims (or
actions or proceedings, whether commenced or threatened, in respect thereof)
arise out of or are based upon: (i) any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement or any
post-effective amendment thereof or the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, (ii) any untrue statement or alleged untrue
statement of a material fact contained in the final prospectus (as amended or
supplemented, if the Company files any amendment thereof or supplement thereto
with the SEC) or the omission or alleged omission to state therein any material
fact necessary to make the statements made therein, in light of the
circumstances under which the statements therein were made, not misleading or
(iii) any violation or alleged violation by the Company of the Securities Act,
the Exchange Act, any state securities law or any rule or regulation under the
Securities Act, the Exchange Act or any state securities law (the matters in the
foregoing clauses (i) through (iii) being, collectively referred to as
"Violations"). Subject to clause (b) of this Section 6, the Company shall
reimburse the Investor, promptly as such expenses are incurred and are due and
payable, for any reasonable legal fees or other reasonable expenses incurred by
them in connection with investigating or defending any such Claim.
Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a) shall not (I) apply to any Claim
arising out of or based upon a Violation which occurs in reliance upon and in
conformity with information furnished in writing to the Company by or on behalf
of such Investor Indemnified Party expressly for use in connection with the
preparation of the Registration Statement or any such amendment thereof or
supplement thereto, if such prospectus was timely made available by the Company
pursuant to Section 3(b) hereof; (II) be available to the extent such Claim is
based on a failure of any Investor Indemnified Party to deliver or cause to be
delivered the prospectus made available by the Company or the amendment or
supplement thereto made available by the Company; (III) be available to the

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extent such Claim is based on the delivery of a prospectus by any Investor
Indemnified Party after receiving notice from the Company under Section
3(d)(iii) or 3(f) or Section 4(c) hereof (other than a notice regarding the
effectiveness of the Registration Statement or any amendment or supplement
thereto), or (IV) apply to amounts paid in settlement of any Claim if such
settlement is effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld or delayed. The Investor will
indemnify the Company and its officers, directors and agents and each person who
controls the Investor within the meaning of Section 15 of the Securities Act
(each, a "Company Indemnified Party", and together with each Investor
Indemnified Party, each an "Indemnified Party") against any claims arising out
of or based upon a Violation which occurs in reliance upon and in conformity
with information furnished in writing to the Company, by or on behalf of the
Investor, expressly for use in connection with the preparation of the
Registration Statement or the amendment or supplement thereto, subject to such
limitations and conditions as are applicable to the indemnification provided by
the Company to this Section 6. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of the Indemnified
Party and shall survive the transfer of the Registrable Securities by the
Investor pursuant to Section 9.

                  (b) Promptly after receipt by an Indemnified Party under this
Section 6 of notice of the commencement of any action (including any
governmental action), such Indemnified Party shall, if a Claim in respect
thereof is to be made against any indemnifying party under this Section 6,
deliver to the indemnifying party a written notice of the commencement thereof
and the indemnifying party shall have the right to participate in, and, to the
extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume control of the defense thereof with counsel
mutually satisfactory to the indemnifying party and the Indemnified Party. In
case any such action is brought against any Indemnified Party, and it notifies
the indemnifying party of the commencement thereof, the indemnifying party will
be entitled to participate in, and, to the extent that it may wish, jointly with
any other indemnifying party similarly notified, assume the defense thereof,
subject to the provisions herein stated and after notice from the indemnifying
party to such Indemnified Party of its election so to assume the defense
thereof, the indemnifying party will not be liable to such Indemnified Party
under this Section 6 for any legal or other reasonable out-of-pocket expenses
subsequently incurred by such Indemnified Party in connection with the defense
thereof other than reasonable costs of investigation, unless the indemnifying
party shall not pursue the action to its final conclusion. The Indemnified Party
shall have the right to employ separate counsel in any such action and to
participate in the defense thereof, but the fees and reasonable out-of-pocket
expenses of such counsel shall not be at the expense of the indemnifying party
if the indemnifying party has assumed the defense of the action with counsel
reasonably satisfactory to the Indemnified Party; provided, such counsel is of
the opinion that all defenses available to the Indemnified Party can be
maintained without prejudicing the rights of the indemnifying party. The failure
to deliver written notice to the indemnifying party within a reasonable time of
the commencement of any such action shall not relieve such indemnifying party of
any liability to the Indemnified Party under this Section 6, except to the
extent that the indemnifying party is prejudiced in its ability to defend such
action. The indemnification required by this Section 6 shall be made by periodic
payments of the amount thereof during the course of the investigation or
defense, as such expense, loss, damage or liability is incurred and is due and
payable.

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                  7. CONTRIBUTION. To the extent any indemnification by an
indemnifying party is prohibited or limited by law, the indemnifying party
agrees to make the maximum contribution with respect to any amounts for which it
would otherwise be liable under Section 6 to the fullest extent permitted by
law; provided, however, that (a) no contribution shall be made under
circumstances where the maker would not have been liable for indemnification
under the fault standards set forth in Section 6; (b) no seller of Registrable
Securities guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any seller
of Registrable Securities who was not guilty of such fraudulent
misrepresentation; and (c) except where the seller has committed fraud (other
than a fraud by reason of the information included or omitted from the
Registration Statement as to which the Company has not given notice as
contemplated under Section 3 hereof) or intentional misconduct, contribution by
any seller of Registrable Securities shall be limited in amount to the net
amount of proceeds received by such seller from the sale of such Registrable
Securities.

                  8. REPORTS UNDER THE EXCHANGE ACT. With a view to making
available to the Investor the benefits of Rule 144 promulgated under the
Securities Act or any other similar rule or regulation of the SEC that may at
any time permit the Investor to sell securities of the Company to the public
without Registration ("Rule 144"), for a period of two years after the date
hereof, the Company agrees to:

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

                  (b) file with the SEC in a timely manner all reports and other
documents required of the Company under the Exchange Act; and

                  (c) furnish to the Investor so long as the Investor owns
Registrable Securities, promptly upon request, (i) a written statement by the
Company that it has complied with the reporting requirements of the Exchange
Act, (ii) if not available on the SEC's EDGAR system, a copy of the most recent
annual or quarterly report of the Company and such other reports and documents
so filed by the Company and (iii) such other information as may be reasonably
requested to permit the Investor to sell such securities pursuant to Rule 144
without Registration; and

                  (d) at the request of the Investor, give its Transfer Agent
instructions to the effect that, upon the Transfer Agent's receipt from such
Holder of

         (i) a certificate (a "Rule 144 Certificate") certifying (A) that the
         Investor's holding period (as determined in accordance with the
         provisions of Rule 144) for the shares of Registrable Securities which
         the Investor proposes to sell (the "Securities Being Sold") is not less
         than (1) year and (B) as to such other matters as may be appropriate in
         accordance with Rule 144 under the Securities Act, and

                                      -11-
<PAGE>

         (ii) an opinion of counsel acceptable to the Company for which purpose
         it is agreed that Investor's Counsel shall be deemed acceptable that,
         based on the Rule 144 Certificate, Securities Being Sold may be sold
         pursuant to the provisions of Rule 144, even in the absence of an
         effective Registration Statement,

the Transfer Agent is to effect the transfer of the Securities Being Sold and
issue to the buyer(s) or transferee(s) thereof one or more stock certificates
representing the transferred Securities Being Sold without any restrictive
legend and without recording any restrictions on the transferability of such
shares on the Transfer Agent's books and records (except to the extent any such
legend or restriction results from facts other than the identity of the
Investor, as the seller or transferor thereof, or the status, including any
relevant legends or restrictions, of the shares of the Securities Being Sold
while held by the Investor). If the Transfer Agent reasonably requires any
additional documentation at the time of the transfer, the Company shall deliver
or cause to be delivered all such reasonable additional documentation as may be
necessary to effectuate the issuance of an unlegended certificate.

                  9. ASSIGNMENT OF THE REGISTRATION RIGHTS. The rights to have
the Company register Registrable Securities pursuant to this Agreement shall be
automatically assigned by the Investor to a transferee in connection with the
transfer of not less than 400,000 shares of Registrable Securities or a portion
of the Convertible Note of not less than $100,000 in principal amount only if
the Company is, within a reasonable time after such transfer or assignment,
furnished with written notice of (a) the name and address of such transferee or
assignee, (b) the securities with respect to which such registration rights are
being transferred or assigned and (c) written evidence of the transferee's
assumption of the Investor's obligations under this Agreement.

                  10. AMENDMENT OF REGISTRATION RIGHTS. Any provision of this
Agreement may be amended and the observance thereof may be waived (either
generally or in a particular instance and either retroactively or
prospectively), only with the written consent of the Company and the Investor.
Any amendment or waiver effected in accordance with this Section 10 shall be
binding upon the Investor and the Company.

                  11. MISCELLANEOUS.

                  (a) A person or entity is deemed to be a holder of Registrable
Securities whenever such person or entity owns of record such Registrable
Securities. If the Company receives conflicting instructions, notices or
elections from two or more persons or entities with respect to the same
Registrable Securities, the Company shall act upon the basis of instructions,
notice or election received from the registered owner of such Registrable
Securities.

                  (b) Notices required or permitted to be given hereunder shall
be given in the manner contemplated by the Purchase Agreement, if to the Company
or to the Investor, to their respective address contemplated by the Purchase
Agreement, or at such other address as each such party furnishes by notice given
in accordance with this Section 11(b).

                  (c) Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or
remedy, shall not operate as a waiver thereof.

                                      -12-
<PAGE>

                  (d) This Agreement shall be governed by and interpreted in
accordance with the laws of the State of New York for contracts to be wholly
performed in such state and without giving effect to the principles thereof
regarding the conflict of laws. Each of the parties consents to the jurisdiction
of the federal courts whose districts encompass any part of the City of New York
or the state courts of the State of New York sitting in the City of New York in
connection with any dispute arising under this Agreement and hereby waives, to
the maximum extent permitted by law, any objection, including any objection
based on FORUM NON COVENIENS, to the bringing of any such proceeding in such
jurisdictions.

                  (e) The Company and the Investor hereby waive a trial by jury
in any action, proceeding or counterclaim brought by either of the parties
hereto against the other in respect of any matter arising out of or in
connection with this Agreement or any of the other Transaction Agreements.

                  (f) If any provision of this Agreement shall be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not
affect the validity or enforceability of the remainder of this Agreement or the
validity or enforceability of this Agreement in any other jurisdiction.

                  (g) Subject to the requirements of Section 9 hereof, this
Agreement shall inure to the benefit of and be binding upon the successors and
assigns of each of the parties hereto.

                  (h) All pronouns and any variations thereof refer to the
masculine, feminine or neuter, singular or plural, as the context may require.

                  (i) The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning thereof.

                  (j) This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement. This Agreement, once executed by a party,
may be delivered to the other party hereto by telephone line facsimile
transmission of a copy of this Agreement bearing the signature of the party so
delivering this Agreement.

                  (k) Neither party shall be liable for consequential damages as
a result of any delay under this Agreement.

                  (l) This Agreement (including to the extent relevant the
provisions of other Transaction Agreements) constitutes the entire agreement
among the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings among the parties hereto with
respect to the subject matter hereof. There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -13-
<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed by their respective officers thereunto duly authorized as of the day
and year first above written.

                                    COMPANY:

                                    GLOBAL BEVERAGE SOLUTIONS, INC.

                                    By:  /s/ Jerry Pearring
                                         ---------------------------
                                    Name:  Jerry Pearring
                                    Title: Chief Executive Officer

                                    INVESTOR:

                                    MELTON MANAGEMENT, LTD.

                                    By:  /s/Yehuda Breitkope
                                         ---------------------------
                                    Name: Yehuda Breitkope
                                    Its:  President

                                      -14-<PAGE>

                                                                    EXHIBIT 10.4

                         GLOBAL BEVERAGE SOLUTIONS, INC.
                        2 S. University Drive, Suite 220
                            Plantation, Florida 33324

                                  July 6, 2007

Michael Hartstein
Managing Director
Palladium Capital Advisors, LLC
230 Park Avenue
Suite 539
New York, NY 10169

Re:      Placement Fee

Dear Mr. Hartstein:

In connection with the services to be provided by Palladium Capital Advisors,
LLC as placement agent (the "Placement Agent") with respect to that certain Note
Purchase Agreement, dated July 6, 2007 herewith (the "Note Purchase Agreement"),
by and between Global Beverage Solutions, Inc. (the "Company") and Melton
Management Ltd., the Company hereby agrees to pay the Placement Agent for said
services as follows:

1. The Company agrees to pay the Placement Agent $33,333 by wire transfer of
immediately available funds as soon as practicable after the consummation of the
transaction contemplated by the Note Purchase Agreement.

2. In addition, the Company agrees to pay, within 120 days of the date of this
letter agreement, the Placement Agent $16,667 (the "Obligation") in any one of
the following manners or any combination thereof:

            a. The Company may pay any portion of the Obligation in cash, either
in a lump sum or as periodic payments, to the Placement Agent.

            b. From and after the date that the Company files a Form N-54C with
the United States Securities and Exchange Commission to withdraw its election to
be regulated as a business development company under the Investment Company Act
of 1940, the Company may pay any portion of the Obligation by issuing shares of
common stock, par value $.001 per share (the "Common Stock"), of the Company to
the Placement Agent. The number of shares of Common Stock to be issued to the
Placement Agent in satisfaction of the Obligation or any portion thereof will be
equal to the quotient obtained by dividing (i) the dollar amount of the
Obligation that the Company has elected to be satisfied through the issuance of

<PAGE>

shares of Common Stock by (ii) the closing price of the Common Stock, as
reported on the over-the-counter market or, if the Common Stock is listed on a
stock exchange, on such exchange, on the date that the Company notifies the
Placement Agent of its election to issue shares of Common Stock in satisfaction
of the Obligation or any portion thereof. The Placement Agreement agrees to take
such actions, and execute, acknowledge and deliver to the Company such further
agreements and documents and take any other actions as the Company may
reasonably request in connection with the issuance of shares of Common Stock in
satisfaction of the Obligation or any portion thereof.

                                              GLOBAL BEVERAGE SOLUTIONS, INC.

                                              By: /s/ Jerry Pearing
                                                  ------------------------------
                                              Name:  Jerry Pearring
                                              Title:  Chief Executive Officer

Acknowledged and Agreed
to as of the date first
written above:

PALLADIUM CAPITAL ADVISORS, LLC

By:      /s/ Michael Hartstein
         ---------------------------------
         Name:  Michael Hartstein
         Title: Managing Director

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