Document:

EXHIBIT 4.57

                    SETTLEMENT AGREEMENT WITH MUTUAL RELEASE

      This Settlement Agreement and Mutual Release (the "Agreement") is entered
into this 1st day of September, 2004 (the "Effective Date"), by and between
SurfNet Media Group, Inc. and SurfNet New Media, Inc. (collectively "SurfNet");
and The Thompson Group, P.C. and Pamela J. Thompson (collectively "Thompson").
All of the persons named above shall sometimes be referred to collectively as
the "Parties." This Settlement Agreement is entered into with reference to the
recitals set forth in the Article titled "Recitals" below and constitutes (i) a
settlement agreement between the Parties and (ii) a mutual release of all
liabilities of all Parties arising out of the matters described below.

                                    RECITALS

      1.1 In April of 2004, Thompson filed a Complaint against SurfNet in
Maricopa County Superior Court entitled PAMELA THOMPSON, ET AL. V. SURFNET MEDIA
GROUP, INC., ET AL., CV2004-007681. SurfNet thereafter asserted a Counterclaim
against Thompson [collectively "the Litigation"].

      1.2 Plaintiffs and Defendants each deny the allegations raised in the
Litigation, and they separately deny that each was damaged in any manner.

      1.3 This Agreement is made as a compromise and settlement by and between
SurfNet and Thompson and is intended to be a complete and final settlement of
all claims, disputes, and causes of action which were or could have been
asserted in the Lawsuit, and any and all claims, disputes or causes of action
related in any way to the Lawsuit. The Agreement is made without acknowledgment
of any fault or wrongdoing by any party. In order to accomplish this complete
release of all Parties, the Parties hereto enter into this Agreement.

                               TERMS OF SETTLEMENT

      2.1 In consideration of the mutual covenants and agreements contained
herein, the sufficiency of which is hereby acknowledged, the Parties make the
promise to abide by the following covenants to the fullest extent authorized by
law:

      2.2 Upon execution of this Agreement, the Complaint and Counterclaim shall
be dismissed with prejudice and each party shall bear their own fees and costs.
Within seven business days of the effective date of this Agreement, the parties
shall cause their respective counsel to execute and file a joint stipulation for
dismissal with prejudice and submit a proposed form of order providing for
dismissal of the Lawsuit with prejudice.

      2.3 The parties hereby confirm that on July 17, 2003 SurfNet's Board of
Directors authorized the issue of a minimum of 180,000 shares of SurfNet's stock
to Pamela Thompson or her designees for services rendered. Even though Ms.
Thompson had beneficial ownership of the stock as of July 17, 2003, the Board
did not issue the stock at that time but held it in a fiduciary capacity for Ms.
Thompson and her designees.

                     SETTLEMENT AGREEMENT AND MUTUAL RELEASE
                                     PAGE 1
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      2.4 In consideration of this settlement and based upon SurfNet's prior
agreement and Board of Directors meeting to issue shares of their common stock
as of July 17, 2003, upon execution of this Agreement, SurfNet shall issue the
180,000 shares of SurfNet's common stock that they have been holding in a
fiduciary capacity as follows:

            a) 117,600 shares to "The Carmel Trust"
            b) 62,400 shares to "Charles C. Weller, A.P.C."

      "The Carmel Trust" and "Charles C. Weller, A.P.C." shall be allowed to
make a one-time transfer of up to one-half of these shares at anytime without
prior Board approval.

                                 MUTUAL RELEASES

      3.1 The Parties, and each of them, shall and do hereby forever mutually
relieve, release and discharge one another and their respective successors,
attorneys, and employees, and each of them, from any and all claims as
hereinafter defined.

      For purposes of this release, "claims" shall mean any and all claims,
defenses, debts, agreements, liabilities, demands, contracts, obligations,
promises, acts, costs and expenses (including but not limited to, attorneys'
fees), damages, actions and causes of action of every kind and nature whatever,
whether now known or unknown, suspected or unsuspected, including, but not
limited to, tort claims, fraud claims, and actions for malicious prosecution or
abuse of process, occurring or existing at any time heretofore, to and including
the date hereof or arising at any time hereafter, based upon, arising from,
relating to, or in any manner connected with, directly or indirectly, the
matters, facts or claims set forth in the Litigation, and the Article of this
Agreement titled "Recitals."

      Unless the context otherwise indicates, whenever used in this Agreement
the word "liability" shall include, but is not limited to, any and all claims,
demands, damages debts, accounts, obligations, costs, expenses, liens, or other
liabilities.

      The Parties each covenant and agree that neither they, nor anyone claiming
through them, will ever institute or maintain against any Party they have
released in this Agreement (or their agents, successors or assigns) any claim,
demand, action, lien, cause of action or suits at law or in equity, directly or
indirectly, for or because of any of the matters released hereby. The Parties
further covenant and agree that this release is a bar to any such claim, action,
suit or proceeding.

                     SETTLEMENT AGREEMENT AND MUTUAL RELEASE
                                     PAGE 2
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      3.2 REPRESENTATIONS AND WARRANTIES. The Parties, and each of them, hereby
represent and warrant to, and agree with each other as follows:

            (a) The Parties, and each of them, have each received independent
legal advice from attorneys of their choice, or have had the opportunity to
consult an attorney but have declined to do so, with respect to the advisability
of making the settlement and release provided herein, and with respect to the
advisability of executing this Settlement Agreement, and prior to the execution
of this Settlement Agreement by each Party, that Party had the opportunity for
its attorney to review this Settlement Agreement at length and make all desired
changes;

            (b) Except as expressly stated in this Settlement Agreement, neither
Plaintiff nor Defendants have made any statement or representation to any other
party regarding any fact relied upon by any other party in entering into this
Settlement Agreement, and each Party specifically does not rely on any
statement, representation, or promise of any other party in executing this
Settlement Agreement, or in making the settlement provided for herein, except as
expressly stated in this Agreement;

            (c) Each Party, and its attorneys, if desired, has made such
investigation of the facts pertaining to this Settlement Agreement and all of
the matters pertaining thereto, as they deem necessary;

            (d) The terms of this Settlement Agreement are contractual, not a
mere recital, and are the result of negotiation between the Parties;

            (e) The Recitals to this Settlement Agreement are expressly made a
part hereof;

            (f) This Settlement Agreement has been carefully read by the Parties
hereto, and if they choose, by their attorneys; it is signed freely by each
person executing this Settlement Agreement; and each person executing this
Settlement Agreement is empowered to do so;

            (g) In entering into this Settlement Agreement, the Parties, and
each of them, recognize that no facts or representations are ever absolutely
certain. The Parties acknowledge that they are aware that they may, after
execution of this Agreement, discover facts different from or in addition to
those they now know or believe to be true with respect to the liabilities,
actions or causes of action to be released. Accordingly, each Party assumes the
risk of any incomplete disclosure or mistake. If any Party should subsequently
discover that any fact it relied upon in entering into this Settlement Agreement

                     SETTLEMENT AGREEMENT AND MUTUAL RELEASE
                                     PAGE 3
<PAGE>

was untrue, or that any understanding of the facts or of the law was incorrect,
such Party shall not be entitled to set aside this Settlement Agreement by
reason thereof. This Settlement Agreement is intended to be final and binding
between the Parties hereto, and is further intended to be effective as a final
accord and satisfaction between Plaintiff and Defendants, regardless of any
claims of misrepresentation, promise made without the intention of performing
it, concealment of act, mistake of fact or law, or any other circumstance
whatsoever. Each Party relies on the finality of this Settlement Agreement as a
material factor inducing that Party's execution of this Settlement Agreement.

            (h) The consideration specified herein is given for the purposes of
(i) settling and compromising all claims and disputes which have arisen between
the Parties, and (ii) releasing Plaintiff and Defendants by operation of this
Settlement Agreement, from any and all claims and liabilities, past, present and
future, that have or may arise out of the matters described in the Article
titled "Recitals." Nothing herein shall be construed as an admission by any
Party, its agents, servants or employees of any liability of any kind to the
other.

            (i) Each Party represents and warrants that he or she has not
heretofore transferred or assigned or purported to transfer or assign to any
person, firm or corporation any claim, demand, damage, debt, liability, account,
action or cause of action herein to be released. Each Party agrees to indemnify
and hold harmless the other Party he or she has released in this Settlement
Agreement against any claim, defense, demand, damage, debt, liability, account,
action, cause of action, cost or expense, including, but not limited to,
attorneys' fees actually paid or incurred, arising out of or in connection with
any such transfer or assignment or purported or claimed transfer or assignment.

            (j) Each Party acknowledges the adequacy of the consideration given
for the release of all Parties in this Settlement Agreement, and understands
that irrespective of whether the consideration is expressly described herein
adequate consideration exists for the release of all Parties, and each of them,
under this Settlement Agreement.

                               GENERAL PROVISIONS

      4.1 ENTIRE AGREEMENT. This Settlement Agreement contains the entire
agreement between the Parties relating to the settlement and release
contemplated hereby, and all prior or contemporaneous agreements, understands,
representations and statements, oral or written, are merged herein.

      4.2 EXAMINATION OF AGREEMENT. Each Party has relied upon its own
examination of the entire Settlement Agreement, and the warranties,
representations, and covenants expressly contained in the Settlement Agreement
itself. The failure or refusal of either party to inspect the Settlement
Agreement or other documents, or to obtain legal advice relevant to this
Settlement Agreement, constitutes a waiver of any objection, contention, or
claim that might have been based upon such reading, inspection or advice.

                     SETTLEMENT AGREEMENT AND MUTUAL RELEASE
                                     PAGE 4
<PAGE>

      4.3 NO CONSTRUCTION AGAINST DRAFTER. Except as otherwise specifically set
forth herein, the Parties acknowledge that this Settlement Agreement, in its
final form, is the result of the combined efforts of the parties hereto and that
should any provision of this Settlement Agreement be found to be ambiguous in
any way, such ambiguity shall not be resolved by construing this Settlement
Agreement in favor of or against any party herein, but rather by construing the
terms of this Settlement Agreement fairly and reasonably in accordance with
their generally accepted meaning and the purposes for which this Settlement
Agreement is made.

      4.4 NO MODIFICATION. No modification, waiver, amendment, discharge or
change of this Settlement Agreement shall be valid unless the same is in writing
and signed by the party against which the enforcement of such modification,
waiver, amendment, discharge or change is or may be sought.

      4.5 SUCCESSORS BOUND. All terms of this Settlement Agreement shall be
binding upon and inure to the benefit of and be enforceable by the Parties
hereto and their respective legal representatives, successors and assigns.

      4.6 SEVERABILITY OF TERMS. In the event any term, covenant, condition,
provision or agreement herein contained is held to be invalid or void by any
court of competent jurisdiction, the invalidity of any such term, covenant,
condition, provision or agreement shall in no way affect any other term,
covenant, condition, provision or agreement herein contained.

      4.7 FURTHER COOPERATION. Each of the Parties shall fully cooperate with
the other in connection with the requirements imposed by this Settlement
Agreement and each agrees to take such further actions and to execute and
deliver such further documents, with acknowledgment or affidavit, if required,
as may be reasonably necessary to carry out the purposes of this Settlement
Agreement and to facilitate the satisfaction of any conditions set forth herein.

      4.8 CHOICE OF LAW. This Settlement Agreement, and any dispute arising
hereunder, shall be construed and enforced in accordance with, and be governed
by, Arizona law.

      4.9 ATTORNEYS' FEES. If either party brings an action to enforce the terms
of this Agreement or to declare rights hereunder, the prevailing party, as
determined by the court, in any such action, on trial or appeal, shall be
entitled to its reasonable attorneys' fees and costs to be paid by the losing
party, as determined by the court.

      4.10 EXECUTION IN COUNTERPARTS. This Settlement Agreement may be executed
in any number of counterparts, each of which shall be deemed to be an original,
but all of which together shall constitute one and the same instrument. However,
this Agreement shall not be binding on any Party until all the Parties have
executed it.

                     SETTLEMENT AGREEMENT AND MUTUAL RELEASE
                                     PAGE 5
<PAGE>

      4.11 FACSIMILE SIGNATURES. This Settlement Agreement may be executed and a
copy of such executed Settlement Agreement transmitted by facsimile, which when
received can be used as an original of the Settlement Agreement for all
purposes.

PLAINTIFF:

PAMELA THOMPSON and THE THOMPSON GROUP, P.C.

Dated:            9/1/04                    By       /s/ Pamela Thompson
       -----------------------------          ----------------------------------
                                                     Pamela Thompson

                                            Its      President
                                               ---------------------------------

DEFENDANTS:

SURFNET MEDIA GROUP, INC. and SURFNET NEW MEDIA, INC.

Dated:            9/1/04                    By       /s/ Robert Arkin
       -----------------------------          ----------------------------------
                                                     Robert Arkin

                                            Its      Chairman
                                               ---------------------------------

APPROVED AS TO FORM:

Dated:            9/2/04                    By       /s/ Charles C. Weller
       -----------------------------          ----------------------------------
                                                      Charles C. Weller
                                                   Attorney for Plaintiffs
                                                     Pamela  Thompson and
                                                   The Thompson Group, P.C.

Dated:                                      By
       -----------------------------          ----------------------------------
                                                       Gerald W. Alston
                                                    Attorney for Defendants
                                                   Surfnet Media Group, Inc.
                                                  and Surfnet New Media, Inc.

                     SETTLEMENT AGREEMENT AND MUTUAL RELEASE
                                     PAGE 6EXHIBIT 4.58

NEITHER THE SECURITIES REPRESENTED HEREBY NOR THE SECURITIES ISSUABLE UPON THE
EXERCISE HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS AND MAY NOT BE
OFFERED, SOLD, PLEDGED, ASSIGNED, OR OTHERWISE TRANSFERRED UNLESS (1) A
REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES
ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) THE COMPANY RECEIVES AN
OPINION OF COUNSEL TO THE HOLDER OF THIS WARRANT OR SUCH SECURITIES, WHICH
COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT THIS
WARRANT OR SUCH SECURITIES, AS APPLICABLE, MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED, OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE STATE
SECURITIES LAWS.

         THE TRANSFER OF THIS WARRANT IS RESTRICTED AS DESCRIBED HEREIN.

                            SURFNET MEDIA GROUP, INC.

                            WARRANTS FOR THE PURCHASE
                                       OF
                             SHARES OF COMMON STOCK

NO. W-2Z                                                       SEPTEMBER 9, 2004

      THIS CERTIFIES that, for value received, BERYL ZYSKIND (together with all
permitted assigns, the "HOLDER") is entitled to subscribe for, and purchase
from, SURFNET MEDIA GROUP, INC., a Delaware corporation (the "COMPANY"), up to
THIRTY-SIX THOUSAND SEVEN HUNDRED SIXTY-FIVE (36,765) shares of the Company's
common stock upon the terms and conditions set forth herein, at any time or from
time to time during the period commencing on the date hereof (the "INITIAL
EXERCISE DATE") and terminating at 5:00 p.m., New York City local time, on the
fifth anniversary of the Initial Exercise Date (the "EXERCISE PERIOD"). This
Warrant is exercisable at an exercise price per share equal to $0.60 per share
(the "EXERCISE PRICE"); provided, however, that upon the occurrence of any of
the events specified in Section 5 hereof, the rights granted by this Warrant,
including the number of shares of Common Stock to be received upon such
exercise, shall be adjusted as therein specified.

      This Warrant, together with the warrants issuable upon the transfer
hereof, are hereinafter referred to as the "Warrants". Each share of Common
Stock issuable upon the exercise hereof or thereof shall be hereinafter referred
to as a "WARRANT SHARE".

      This Warrant has been issued in accordance with the agreement, dated July
30, 2004 (the "AGREEMENT"), between the Holder and the Company.
<PAGE>

      SECTION 1  EXERCISE OF WARRANT.

      This Warrant may be exercised during the Exercise Period, either in whole
or in part, by the surrender of this Warrant (accompanied by the election form,
attached hereto, duly executed) to the Company at its office at 2801 South Fair
Lane, Tempe Arizona 85282-3162, or at such other place as is designated in
writing by the Company, together with a certified or bank cashier's check
payable to the order of the Company in an amount equal to the product of the
Exercise Price and the number of Warrant Shares for which this Warrant is being
exercised.

      SECTION 2  RIGHTS UPON EXERCISE; DELIVERY OF SECURITIES.

            Upon each exercise of the Holder's rights to purchase Warrant
Shares, the Holder shall be deemed to be the holder of record of the Warrant
Shares, notwithstanding that the transfer books of the Company shall then be
closed or certificates representing the Warrant Shares with respect to which
this Warrant was exercised shall not then have been actually delivered to the
Holder. As soon as practicable after each such exercise of this Warrant, the
Company shall issue and deliver to the Holder a certificate or certificates
representing the Warrant Shares issuable upon such exercise, registered in the
name of the Holder or its designee. If this Warrant should be exercised in part
only, the Company shall, upon surrender of this Warrant for cancellation,
execute and deliver a Warrant evidencing the right of the Holder to purchase the
balance of the aggregate number of Warrant Shares purchasable hereunder as to
which this Warrant has not been exercised or assigned.

      SECTION 3  REGISTRATION OF TRANSFER AND EXCHANGE.

            Any Warrants issued upon the transfer or exercise in part of this
Warrant shall be numbered and shall be registered in a warrant register (the
"WARRANT REGISTER") as they are issued. The Company shall be entitled to treat
the registered holder of any Warrant on the Warrant Register as the owner in
fact thereof for all purposes, and shall not be bound to recognize any equitable
or other claim to, or interest in, such Warrant on the part of any other person,
and shall not be liable for any registration or transfer of Warrants which are
registered or to be registered in the name of a fiduciary or the nominee of a
fiduciary unless made with the actual knowledge that a fiduciary or nominee is
committing a breach of trust in requesting such registration of transfer, or
with the knowledge of such facts that its participation therein amounts to bad
faith. This Warrant shall be transferable on the books of the Company only upon
delivery thereof duly endorsed by the Holder or by his duly authorized attorney
or representative, or accompanied by proper evidence of succession, assignment,
or authority to transfer. In all cases of transfer by an attorney, executor,
administrator, guardian, or other legal representative, duly authenticated
evidence of his, her, or its authority shall be produced. Upon any registration
of transfer, the Company shall deliver a new Warrant or Warrants to the person
entitled thereto. This Warrant may be exchanged, at the option of the Holder
thereof, for another Warrant, or other Warrants of different denominations, of
like tenor and representing in the aggregate the right to purchase a like number
of Warrant Shares (or portions thereof), upon surrender to the Company or its
duly authorized agent. Notwithstanding the foregoing, neither this Warrant nor
the Warrant Shares issued or issuable upon exercise of this Warrant may be sold,
transferred, assigned, hypothecated or otherwise disposed of without the Holder
first providing the Company with an opinion of counsel reasonably satisfactory
to the Company that such sale, transfer, assignment, hypothecation or other
disposal will be exempt from the registration and prospectus delivery
requirements of applicable federal and state securities laws and regulations. It
is expressly agreed herein that Reitler Brown LLC is a counsel reasonably
satisfactory to the Company.

                                       2
<PAGE>

      SECTION 4  RESERVATION OF SHARES.

            The Company shall at all times reserve and keep available out of its
authorized and unissued Common Stock, solely for the purpose of providing for
the exercise of the Warrants, such number of shares of Common Stock as shall,
from time to time, be sufficient therefor. The Company represents that all
shares of Common Stock issuable upon exercise of this Warrant are duly
authorized and, upon receipt by the Company of the full payment for such Warrant
Shares, will be validly issued, fully paid, and nonassessable, without any
personal liability attaching to the ownership thereof and will not be issued in
violation of any preemptive or similar rights of stockholders.

      SECTION 5  ANTIDILUTION.

            (a) (i) If, while this Warrant is outstanding, the Company effects a
subdivision of the outstanding Common Stock, the Exercise Price then in effect
shall be proportionately decreased and the number of Warrant Shares issuable
upon exercise of this Warrant shall be increased in proportion to such increase
of outstanding Common Stock, and conversely, if, while this Warrant is
outstanding, the Company combines the outstanding Common Stock, the Exercise
Price then in effect shall be proportionately increased and the number of
Warrant Shares issuable upon exercise of this Warrant shall be decreased in
proportion to such decrease in outstanding Common Stock. Any adjustment under
this Section 5(a) shall become effective as of the record date for such event.
For purposes of this Section 5(a), a stock dividend shall be considered a stock
split.

                  (ii) In the event that that Company shall at any time after
the date hereof issue any shares of Common Stock such that the number of issued
and outstanding shares of Common Stock shall exceed 12,000,000 (subject to
adjustments for stock splits, stock dividends, reverse stock splits, and
reclassifications, but excluding any shares issued or issuable (i) upon exercise
of the Warrants or upon conversion of the Notes (as such terms are defined in
the Agreement) or (ii) upon exercise of warrants issuable to Trinity Bui and
Joel Gold convertible into Common Stock or upon the conversion of up to the
aggregate principal amount promissory notes held by Trinity Bui and Joel Gold
into shares of Common Stock (the foregoing adjustments and exclusions
hereinafter referred to as the "Adjustments")),, then, in each case, the
Exercise Price theretofore in effect shall be adjusted so that it shall equal
the product of (X) multiplied by (Y), where (X) equals the Exercise Price
theretofore in effect and where (Y) equals a fraction, the numerator of which is
12,000,000 (subject to the Adjustments), and the denominator of which is the
number of shares of Common Stock issued and outstanding, provided that such
denominator exceeds 12,000,000 (subject to the Adjustments).

                  (iii) Simultaneous with any such adjustment, the number of
Warrant Shares issuable upon exercise of this Warrant shall be adjusted to equal
the quotient of (A) divided by (B), where (A) equals the product of the number
of Warrant Shares issuable upon the exercise of this Warrant immediately prior
thereto multiplied by the Exercise Price per Warrant Share in effect immediately
prior thereto, and where (B) equals the Exercise Price, as adjusted.

                                       3
<PAGE>

            (b) All calculations under this Section 5 shall be made to the
nearest cent or to the nearest one-hundredth of a share, as the case may be.

            (c) In any case in which this Section 5 shall require that an
adjustment in the number of Warrant Shares be made effective as of a record date
for a specified event, the Company may elect to defer, until the occurrence of
such event, issuing to the Holder, if the Holder exercised this Warrant after
such record date, the Warrant Shares, if any, issuable upon such exercise over
and above the number of Warrant Shares issuable upon such exercise on the basis
of the number of shares of Common Stock in effect prior to such adjustment;
provided, however, that the Company shall deliver to the Holder a due bill or
other appropriate instrument evidencing the Holder's right to receive such
additional shares of Common Stock upon the occurrence of the event requiring
such adjustment.

            (d) Whenever there shall be an adjustment as provided in this
Section 5, the Company shall within 15 days thereafter cause written notice
thereof to be sent by registered mail, postage prepaid, to the Holder, at its
address as it shall appear in the Warrant Register, which notice shall be
accompanied by an officer's certificate setting forth the number of Warrant
Shares issuable and the Exercise Price thereof after such adjustment and setting
forth a brief statement of the facts requiring such adjustment and the
computation thereof, which officer's certificate shall be conclusive evidence of
the correctness of any such adjustment absent manifest error.

            (e) The Company shall not be required to issue fractions of shares
of Common Stock or other capital stock of the Company upon the exercise of this
Warrant. If any fraction of a share of Common Stock would be issuable on the
exercise of this Warrant (or specified portions thereof), the Company shall pay
lieu of such fraction an amount in cash equal to the same fraction of the
current market price on the date of exercise of this Warrant.

            (f) No adjustment in the Exercise Price per Warrant Share shall be
required if such adjustment is less than $.001; provided, however, that any
adjustments which by reason of this Section 5 are not required to be made shall
be carried forward and taken into account in any subsequent adjustment.

      SECTION 6  RECLASSIFICATION; REORGANIZATION; MERGER.

            (a) In case of any capital reorganization, other than in the cases
referred to in Section 5(a) hereof, or the consolidation or merger of the
Company with or into another corporation (other than a merger or consolidation
in which the Company is the continuing corporation and which does not result in
any reclassification of the outstanding shares of Common Stock or the conversion
of such outstanding shares of Common Stock into shares of other stock or other
securities or property), or in the case of any sale, lease, or conveyance to
another corporation of the property and assets of any nature of the Company as
an entirety or substantially as an entirety (such actions being hereinafter
collectively referred to as "REORGANIZATIONS"), there shall thereafter be
deliverable upon exercise of this Warrant (in lieu of the number of Warrant
Shares theretofore deliverable) the number of shares of stock or other
securities or property to which a holder of the respective number of Warrant
Shares which would otherwise have been deliverable upon the exercise of this

                                       4
<PAGE>

Warrant would have been entitled upon such Reorganization if this Warrant had
been exercised in full immediately prior to such Reorganization. In case of any
Reorganization, appropriate adjustment, as determined in good faith by the Board
of Directors of the Company, shall be made in the application of the provisions
herein set forth with respect to the rights and interests of the Holder so that
the provisions set forth herein shall thereafter be applicable, as nearly as
possible, in relation to any shares or other property thereafter deliverable
upon exercise of this Warrant. Any such adjustment shall be made by, and set
forth in, a supplemental agreement between the Company, or any successor
thereto, and the Holder, with respect to this Warrant, and shall for all
purposes hereof conclusively be deemed to be an appropriate adjustment. In the
event of sale, lease, or conveyance or other transfer of all or substantially
all of the assets of the Company as part of a plan for liquidation of the
Company, all rights to exercise this Warrant shall terminate 30 days after the
Company gives written notice to the Holder that such sale or conveyance or other
transfer has been consummated.

            (b) In case of any reclassification or change of the shares of
Common Stock issuable upon exercise of this Warrant (other than a change in par
value or from a specified par value to no par value, or as a result of a
subdivision or combination, but including any change in the shares into two or
more classes or series of shares), or in case of any consolidation or merger of
another corporation into the Company in which the Company is the continuing
corporation and in which there is a reclassification or change (including a
change to the right to receive cash or other property) of the shares of Common
Stock (other than a change in par value, or from no par value to a specified par
value, or as a result of a subdivision or combination, but including any change
in the shares into two or more classes or series of shares), the Holder or
holders of this Warrant shall have the right thereafter to receive upon exercise
of this Warrant solely the kind and amount of shares of stock and other
securities, property, cash, or any combination thereof receivable upon such
reclassification, change, consolidation, or merger by a holder of the number of
Warrant Shares for which this Warrant might have been exercised immediately
prior to such reclassification, change, consolidation, or merger. Thereafter,
appropriate provision shall be made for adjustments which shall be as nearly
equivalent as practicable to the adjustments in Section 5.

            (c) The above provisions of this Section 6 shall similarly apply to
successive reclassifications and changes of shares of Common Stock and to
successive consolidations, mergers, sales, leases, or conveyances.

      SECTION 7  NOTICE OF CERTAIN EVENTS.

            In case at any time the Company shall propose:

      (a) to pay any dividend or make any distribution on shares of Common Stock
in shares of Common Stock or make any other distribution (other than regularly
scheduled cash dividends which are not in a greater amount per share than the
most recent such cash dividend) to all holders of Common Stock; or

                                       5
<PAGE>

      (b) to issue any rights, warrants, or other securities to all holders of
Common Stock entitling them to purchase any additional shares of Common Stock or
any other rights, warrants, or other securities; or

      (c) to effect any reclassification or change of outstanding shares of
Common Stock or any consolidation, merger, sale, lease, or conveyance of
property, as described in Section 6; or

      (d) to effect any liquidation, dissolution, or winding-up of the Company;
or

      (e) to take any other action which would cause an adjustment to the
Exercise Price per Warrant Share;

then, and in any one or more of such cases, the Company shall give written
notice thereof by registered mail, postage prepaid, to the Holder at the
Holder's address as it shall appear in the Warrant Register, mailed at least 10
days prior to: (i) the date as of which the holders of record of shares of
Common Stock to be entitled to receive any such dividend, distribution, rights,
warrants, or other securities are to be determined; (ii) the date on which any
such reclassification, change of outstanding shares of Common Stock,
consolidation, merger, sale, lease, conveyance of property, liquidation,
dissolution, or winding-up is expected to become effective and the date as of
which it is expected that holders of record of shares of Common Stock shall be
entitled to exchange their shares for securities or other property, if any,
deliverable upon such reclassification, change of outstanding shares,
consolidation, merger, sale, lease, conveyance of property, liquidation,
dissolution, or winding-up; or (iii) the date of such action which would require
an adjustment to the Exercise Price per Warrant Share.

      SECTION 8  CHARGES AND TAXES.

            The issuance of any shares or other securities upon the exercise of
this Warrant and the delivery of certificates or other instruments representing
such shares or other securities shall be made without charge to the Holder for
any tax or other charge in respect of such issuance. The Company shall not,
however, be required to pay any tax which may be payable in respect of any
transfer involved in the issue and delivery of any certificate in a name other
than that of the Holder and the Company shall not be required to issue or
deliver any such certificate unless and until the person or persons requesting
the issue 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.

      SECTION 9  PERIODIC REPORTS.

            The Company agrees that until all the Warrant Shares shall have been
sold pursuant to Rule 144 under the Securities Act or a Registration Statement
under the Securities Act, it shall use best efforts to keep current in filing
all reports, statements, and other materials required to be filed with the
Commission to permit holders of the Warrant Shares to sell such securities under
Rule 144 under the Securities Act.

                                       6
<PAGE>

      SECTION 10  LEGEND.

            Until sold pursuant to the provisions of Rule 144 or otherwise
registered under the Securities Act, the Warrant Shares issued on exercise of
the Warrants shall be subject to a stop transfer order and the certificate or
certificates representing the Warrant Shares shall bear the following legend:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS AND
MAY NOT BE OFFERED, SOLD, PLEDGED, ASSIGNED, OR OTHERWISE TRANSFERRED UNLESS (1)
A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES
ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) THE COMPANY RECEIVES AN
OPINION OF COUNSEL TO THE HOLDER OF THE SECURITIES, WHICH COUNSEL AND OPINION
ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED,
SOLD, PLEDGED, ASSIGNED, OR OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED
WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
APPLICABLE STATE SECURITIES LAWS.

      SECTION 11  LOSS; THEFT; DESTRUCTION; MUTILATION.

            Upon receipt of evidence satisfactory to the Company of the loss,
theft, destruction, or mutilation of any Warrant (and upon surrender of any
Warrant if mutilated), and upon receipt by the Company of reasonably
satisfactory indemnification, the Company shall execute and deliver to the
Holder thereof a new Warrant of like date, tenor, and denomination.

      SECTION 12  STOCKHOLDER RIGHTS.

            The Holder of any Warrant shall not have, solely on account of such
status, any rights of a stockholder of the Company, either at law or in equity,
or to any notice of meetings of stockholders or of any other proceedings of the
Company, except as provided in this Warrant.

      SECTION 14  GOVERNING LAW.

            This Warrant shall be construed in accordance with the laws of the
State of New York applicable to contracts made and performed within such State,
without regard to principles of conflicts of law.

                     [REMAINDER OF PAGE INTENTIONALLY BLANK]

                                       7
<PAGE>

      IN WITNESS WHEREOF, the Company has executed this Warrant as of the date
first above written.

                                                SURFNET MEDIA GROUP, INC.

                                                BY: /S/ ROBERT ARKIN
                                                    ----------------
                                                    ROBERT ARKIN
                                                    CHAIRMAN

                                       8
<PAGE>

                               FORM OF ASSIGNMENT

(To be executed by the registered holder if such holder desires to transfer the
attached Warrant.)

      FOR VALUE RECEIVED, ______________________ hereby sells, assigns, and
transfers unto _________________ a Warrant to purchase __________ shares of
Common Stock of SurfNet Media Group, Inc., a Delaware corporation (the
"COMPANY"), and does hereby irrevocably constitute and appoint ___________
attorney to transfer such Warrant on the books of the Company, with full power
of substitution.

Dated:
       -----------------

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

                                     NOTICE

      The signature on the foregoing Assignment must correspond to the name as
written upon the face of this Warrant in every particular, without alteration or
enlargement or any change whatsoever.

                                       9
<PAGE>

                              ELECTION TO EXERCISE

To: SurfNet Media Group, Inc.

      The undersigned hereby exercises his, her, or its rights to purchase
shares of Common Stock (the "COMMON STOCK"), of SurfNet Media, Inc., a Delaware
corporation (the "COMPANY"), covered by the within Warrant and tenders payment
herewith in the amount of $_____ in accordance with the terms thereof, and
requests that certificates for the securities constituting such shares of Common
Stock be issued in the name of, and delivered to:

     (Print Name, Address, and Social Security or Tax Identification Number)

and, if such number of shares of Common Stock shall not constitute all such
shares of Common Stock covered by the within Warrant, that a new Warrant for the
balance of the shares of Common Stock covered by the within Warrant shall be
registered in the name of, and delivered to, the undersigned at the address
stated below.

Dated:                                          Name
       -----------------                             -----------------
                                                     (Print)

Address:

                                                     -----------------
                                                     (Signature)

                                       10

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