Document:

Exhibit 10.3

                          REGISTRATION RIGHTS AGREEMENT

         THIS  REGISTRATION  RIGHTS  AGREEMENT (this  "Agreement"),  dated as of
August 19, 2004, by and among  Secured  Diversfied  Investment,  Ltd. , a Nevada
corporation,  with its principal  office  located at 5030 Campus Drive , Newport
Beach, CA 92660 (the "Target Company"),  and Seaside Investments Plc., a company
incorporated  in England and Wales,  with its principal  place of business at 30
Farringdon Street, London EC4A 4HJ ("Seaside").

         Simultaneously  with the  execution  and  delivery  of this  Agreement,
Seaside and the Target  Company have entered  into a Stock  Purchase  Agreement,
dated as of the date hereof (the "Purchase Agreement"), which Purchase Agreement
is  incorporated  herein by  reference,  and pursuant to which the Purchaser has
agreed to purchase  the Target  Company's  common  stock,  par value $0.001 (the
"Common Stock";  and such shares of Common Stock purchased,  the  "Consideration
Stock"),  all as more particularly  provided therein. All capitalized terms used
herein  without  definition  shall  have the  meaning  ascribed  thereto  in the
Purchase Agreement.

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 Target  Company and Seaside
hereby agree as follows:

         1.       DEFINITIONS.

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

         (a) "Person"  means a  corporation,  a limited  liability  company,  an
         association, a partnership, an organization, a business, an individual,
         a  governmental  or  political  subdivision  thereof or a  governmental
         agency.

         (b)   "Register,"   "registered,"   and   "registration"   refer  to  a
         registration  effected by preparing and filing one or more Registration
         Statements  (as  defined  below)  in  compliance  with the 1933 Act and
         pursuant to Rule 415 under the 1933 Act or any successor rule providing
         for offering  securities on a continuous or delayed basis ("Rule 415"),
         and the declaration or ordering of effectiveness  of such  Registration
         Statement(s)  by the United  States  Securities  and  Exchange SEC (the
         "SEC").

         (c) "Registrable Securities" means the shares of Consideration Stock.

         (d) "Registration  Statement" means a registration  statement under the
         1933 Act which covers the Registrable Securities.

         2. REGISTRATION.

         (a) Subject to the terms and conditions of this  Agreement,  the Target
         Company  shall  prepare,  file and cause to be declared  effective,  no
         later than twelve (12)  months from the date of the  Closing,  with the
         SEC a  registration  statement  on Form S-1 or SB-2 (or,  if the Target
         Company is then eligible, on Form S-3) under the 1933 Act (the "Initial

                                       1
<PAGE>

         Registration  Statement")  for  the  registration  for  the  resale  by
         Seaside,  who purchased shares of Common Stock pursuant to the Purchase
         Agreement the shares of  Consideration  Stock. The Target Company shall
         cause the  Registration  Statement to remain effective until all of the
         Registrable  Securities  have  been sold or until,  in the  opinion  of
         counsel to the Target Company, Seaside shall be entitled to sell all of
         the  Registerable  Securities  pursuant to Rule 144 in one transaction.
         Prior to the filing of the  Registration  Statement  with the SEC,  the
         Target  Company  shall  furnish  a  copy  of the  Initial  Registration
         Statement to Seaside and Gottbetter & Partners LLP for their review and
         comment.  Seaside and Gottbetter & Partners LLP shall furnish  comments
         on the Initial  Registration  Statement  to the Target  Company  within
         three (3) Business Days of the receipt thereof from the Target Company.

         (b)  Effectiveness of the Initial  Registration  Statement.  The Target
         Company shall use its best efforts (i) to have the Initial Registration
         Statement  declared  effective  by  the  SEC no  later  than  one  year
         anniversary from date hereof (the "Scheduled  Effective  Deadline") and
         (ii)  to  insure  that  the  Initial  Registration  Statement  and  any
         subsequent  Registration  Statement remains in effect until the earlier
         of (A) all of the Registrable Securities have been sold, subject to the
         terms and conditions of this Agreement or (B) in the written opinion of
         counsel for the Target  Company all of the  Registrable  Securities are
         eligible for sale without an effective Registration Statement under the
         1933 Act.

         (c) Failure to Obtain Effectiveness of the Registration  Statement.  In
         the event the Registration  Statement is not declared  effective by the
         SEC on or before the Scheduled Effective Deadline, sales cannot be made
         pursuant to the Registration  Statement whether because of a failure to
         keep the  Registration  Statement  effective,  failure to disclose such
         information  as is  necessary  for  sales  to be made  pursuant  to the
         Registration Statement, failure to register sufficient shares of Common
         Stock or  otherwise  (other  than  failure by  Seaside  to provide  the
         information  reasonably  request by Target Company for inclusion in the
         Reegistration  Statement) then as partial relief for the damages to any
         holder of  Registrable  Securities  by  reason of any such  delay in or
         reduction of its ability to sell the underlying  shares of Common Stock
         (which remedy shall not be exclusive of any other remedies at law or in
         equity),  the  Target  Company  will  pay as  liquidated  damages  (the
         "Liquidated  Damages") to Seaside,  at Seaside's option,  either a cash
         amount or shares of the Target  Company's Common Stock within three (3)
         business days, after demand  therefore,  equal to three percent (3%) of
         the  Per  Share  Market  Value  of  the  Common  Stock  outstanding  as
         Liquidated Damages.

         (d)  Liquidated   Damages.   The  Target  Company  and  Seaside  hereto
         acknowledge  and agree that the sums  payable  under  subsections  2(c)
         above shall constitute  liquidated damages and not penalties and are in
         addition to all other rights of Seaside,  including the right to call a
         default. The parties further acknowledge that (i) the amount of loss or
         damages likely to be incurred is incapable or is difficult to precisely
         estimate,  (ii)  the  amounts  specified  in  such  subsections  bear a
         reasonable   relationship   to,   and  are  not   plainly   or  grossly
         disproportionate  to,  the  probable  loss  likely  to be  incurred  in
         connection with any failure by the Target Company to obtain or maintain
         the effectiveness of a Registration Statement, (iii) one of the reasons
         for the Target  Company and Seaside  reaching an  agreement  as to such

                                       2
<PAGE>

         amounts  was the  uncertainty  and  cost of  litigation  regarding  the
         question of actual damages, and (iv) the Target Company and Seaside are
         sophisticated   business   parties   and  have  been   represented   by
         sophisticated  and able legal counsel and negotiated  this Agreement at
         arm's length.

       3.         RELATED OBLIGATIONS.

         (a) The Target Company shall keep the Registration  Statement effective
         pursuant to Rule 415 at all times until the date on which Seaside shall
         have sold all the Registrable  Securities  covered by such Registration
         Statement or until the date on which,  in the opinion of counsel to the
         Target  Company,   Seaside  shall  be  entitled  to  sell  all  of  the
         Registerable  Securities  pursuant to Rule 144 in one transaction  (the
         "Registration  Period"),  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) The  Target  Company  shall  prepare  and  file  with  the SEC such
         amendments (including  post-effective  amendments) and supplements to a
         Registration  Statement and the prospectus used in connection with such
         Registration  Statement,  which  prospectus is to be filed  pursuant to
         Rule 424  promulgated  under the 1933 Act, as may be  necessary to keep
         such  Registration   Statement   effective  at  all  times  during  the
         Registration   Period,  and,  during  such  period,   comply  with  the
         provisions  of the 1933  Act with  respect  to the  disposition  of all
         Registrable   Securities  of  the  Target   Company   covered  by  such
         Registration  Statement  until  such  time as all of  such  Registrable
         Securities  shall have been disposed of in accordance with the intended
         methods of disposition by the seller or sellers thereof as set forth in
         such Registration  Statement. In the case of amendments and supplements
         to a Registration  Statement which are required to be filed pursuant to
         this Agreement  (including  pursuant to this Section 3(b)) by reason of
         the Target  Company's  filing a report on Form  10-KSB,  Form 10-QSB or
         Form 8-K or any analogous  report under the Securities  Exchange Act of
         1934, as amended (the "1934 Act"), the Target Company shall incorporate
         such  report  by  reference  into  the   Registration   Statement,   if
         applicable,  or shall file such amendments or supplements  with the SEC
         on the same day on which the 1934 Act report is filed which created the
         requirement   for  the  Target  Company  to  amend  or  supplement  the
         Registration Statement.

         (c) The Target Company shall furnish to Seaside, without charge, (i) at
         least one (1) copy of such Registration Statement as declared effective
         by the SEC and any amendment(s) thereto, including financial statements
         and schedules,  all documents  incorporated  therein by reference,  all
         exhibits and each preliminary  prospectus,  (ii) ten (10) copies of the
         final  prospectus  included  in  such  Registration  Statement  and all
         amendments and  supplements  thereto (or such other number of copies as
         Seaside  may  reasonably  request)  and (iii) such other  documents  as

                                       3
<PAGE>

         Seaside may reasonably request from time to time in order to facilitate
         the disposition of the Registrable Securities owned by Seaside.

         (d) The Target  Company  shall use its best efforts to (i) register and
         qualify the Registrable  Securities covered by a Registration Statement
         under such other securities or "blue sky" laws of such jurisdictions in
         the United States as Seaside reasonably requests, (ii) prepare and file
         in  those  jurisdictions,  such  amendments  (including  post-effective
         amendments) and supplements to such registrations and qualifications as
         may be  necessary  to maintain  the  effectiveness  thereof  during the
         Registration  Period, (iii) take such other actions as may be necessary
         to maintain  such  registrations  and  qualifications  in effect at all
         times during the Registration  Period,  and (iv) take all other actions
         reasonably necessary or advisable to qualify the Registrable Securities
         for sale in such  jurisdictions;  provided,  however,  that the  Target
         Company shall not be required in connection therewith or as a condition
         thereto to (w) make any change to its certificate of  incorporation  or
         by-laws,  (x) qualify to do business in any jurisdiction where it would
         not  otherwise  be required to qualify but for this Section  3(d),  (y)
         subject  itself to general  taxation in any such  jurisdiction,  or (z)
         file a general consent to service of process in any such  jurisdiction.
         The Target Company shall promptly  notify Seaside of the receipt by the
         Target  Company of any  notification  with respect to the suspension of
         the registration or qualification of any of the Registrable  Securities
         for sale under the securities or "blue sky" laws of any jurisdiction in
         the United States or its receipt of actual notice of the  initiation or
         threat of any proceeding for such purpose.

         (e) As promptly as  practicable  after  becoming aware of such event or
         development,  the Target Company shall notify Seaside in writing of the
         happening of any event as a result of which the prospectus  included in
         a  Registration  Statement,  as  then in  effect,  includes  an  untrue
         statement  of a material  fact or  omission  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  (provided  that in no event shall such  notice  contain any
         material, nonpublic information),  and promptly prepare a supplement or
         amendment  to  such  Registration  Statement  to  correct  such  untrue
         statement or omission,  and deliver ten (10) copies of such  supplement
         or amendment to Seaside.  The Target Company shall also promptly notify
         Seaside in writing (i) when a prospectus or any  prospectus  supplement
         or  post-effective  amendment has been filed,  and when a  Registration
         Statement  or  any   post-effective   amendment  has  become  effective
         (notification  of such  effectiveness  shall be delivered to Seaside by
         facsimile on the same day of such  effectiveness),  (ii) of any request
         by the SEC for amendments or supplements to a Registration Statement or
         related  prospectus  or  related  information,  and (iii) of the Target
         Company's reasonable determination that a post-effective amendment to a
         Registration Statement would be appropriate.

         (f) The  Target  Company  shall use its best  efforts  to  prevent  the
         issuance of any stop order or other  suspension of  effectiveness  of a
         Registration  Statement,  or the suspension of the qualification of any
         of the Registrable  Securities for sale in any jurisdiction  within the
         United States of America and, if such an order or suspension is issued,
         to obtain the  withdrawal  of such order or  suspension at the earliest
         possible moment and to notify Seaside of the issuance of such order and

                                       4
<PAGE>

         the  resolution  thereof  or  its  receipt  of  actual  notice  of  the
         initiation or threat of any proceeding for such purpose.

         (g) At the  reasonable  request of Seaside,  the Target  Company  shall
         furnish  to  Seaside,   on  the  date  of  the   effectiveness  of  the
         Registration  Statement and thereafter  from time to time on such dates
         as Seaside may reasonably  request (i) a letter,  dated such date, from
         the Target Company's  independent  certified public accountants in form
         and substance as is customarily  given by independent  certified public
         accountants to  underwriters in an underwritten  public  offering,  and
         (ii) an opinion,  dated as of such date,  of counsel  representing  the
         Target Company for purposes of such  Registration  Statement,  in form,
         scope and substance as is customarily  given in an underwritten  public
         offering, addressed to Seaside.

         (h) The Target  Company  shall make  available  for  inspection  by (i)
         Seaside and (ii) one (1) firm of accountants  or other agents  retained
         by Seaside (collectively, the "Inspectors") all pertinent financial and
         other records,  and pertinent corporate documents and properties of the
         Target Company  (collectively,  the "Records"),  as shall be reasonably
         deemed  necessary  by each  Inspector,  and cause the Target  Company's
         officers,  directors and employees to supply all information  which any
         Inspector  may  reasonably  request;   provided,   however,  that  each
         Inspector  shall agree,  and Seaside hereby  agrees,  to hold in strict
         confidence and shall not make any disclosure (except to Seaside) or use
         any Record or other information which the Target Company  determines in
         good  faith  to  be  confidential,   and  of  which  determination  the
         Inspectors  are so notified,  unless (a) the disclosure of such Records
         is  necessary  to avoid or correct a  misstatement  or  omission in any
         Registration Statement or is otherwise required under the 1933 Act, (b)
         the  release  of  such   Records  is  ordered   pursuant  to  a  final,
         non-appealable  subpoena  or order from a court or  government  body of
         competent jurisdiction, or (c) the information in such Records has been
         made  generally  available  to the public other than by  disclosure  in
         violation  of this or any other  agreement of which the  Inspector  and
         Seaside has knowledge. Seaside agrees that it shall, upon learning that
         disclosure  of such Records is sought in or by a court or  governmental
         body of competent  jurisdiction  or through  other  means,  give prompt
         notice to the  Target  Company  and allow the  Target  Company,  at its
         expense,  to undertake  appropriate action to prevent disclosure of, or
         to obtain a protective order for, the Records deemed confidential.

         (h) The  Target  Company  shall  hold in  confidence  and not  make any
         disclosure of  information  concerning  Seaside  provided to the Target
         Company  unless (i)  disclosure  of such  information  is  necessary to
         comply with federal or state  securities  laws,  (ii) the disclosure of
         such  information  is necessary to avoid or correct a  misstatement  or
         omission  in any  Registration  Statement,  (iii) the  release  of such
         information  is  ordered   pursuant  to  a  subpoena  or  other  final,
         non-appealable  order from a court or  governmental  body of  competent
         jurisdiction,   or  (iv)  such  information  has  been  made  generally
         available to the public other than by  disclosure  in violation of this
         Agreement or any other  agreement.  The Target  Company  agrees that it
         shall,  upon learning that  disclosure of such  information  concerning
         Seaside is sought in or by a court or  governmental  body of  competent
         jurisdiction  or through  other means,  give prompt  written  notice to

                                       5
<PAGE>

         Seaside  and  allow  Seaside,   at  Seaside's  expense,   to  undertake
         appropriate  action to prevent disclosure of, or to obtain a protective
         order for, such information.

         (i) The Target  Company shall use its best efforts  either to cause all
         the Registrable  Securities covered by a Registration  Statement (i) to
         be listed on each securities  exchange on which  securities of the same
         class or series issued by the Target  Company are then listed,  if any,
         if the listing of such  Registrable  Securities is then permitted under
         the rules of such  exchange or (ii) the  inclusion for quotation on the
         National Association of Securities Dealers, Inc. OTC Bulletin Board for
         such Registrable Securities.  The Target Company shall pay all fees and
         expenses  in  connection  with  satisfying  its  obligation  under this
         Section 3(i).

         (j) The Target Company shall  cooperate with Seaside and, to the extent
         applicable,  to  facilitate  the timely  preparation  and  delivery  of
         certificates  (not bearing any  restrictive  legend)  representing  the
         Registrable  Securities  to  be  offered  pursuant  to  a  Registration
         Statement and enable such  certificates to be in such  denominations or
         amounts,  as the case may be, as Seaside  may  reasonably  request  and
         registered in such names as Seaside may request.

         (k) The  Target  Company  shall  use its  best  efforts  to  cause  the
         Registrable Securities covered by the applicable Registration Statement
         to be registered with or approved by such other  governmental  agencies
         or  authorities  as may be necessary to consummate  the  disposition of
         such Registrable Securities.

          (l) The Target Company shall make generally  available to its security
         holders as soon as practical, but not later than ninety (90) days after
         the close of the period covered thereby, an earnings statement (in form
         complying  with the provisions of Rule 158 under the 1933 Act) covering
         a twelve (12) month  period  beginning  not later than the first day of
         the Target  Company's  fiscal quarter next following the effective date
         of the Registration Statement.

         (m) The Target  Company shall  otherwise use its best efforts to comply
         with all applicable rules and regulations of the SEC in connection with
         any registration hereunder.

         (n) Within two (2) business days after a Registration  Statement  which
         covers  Registrable  Securities  is declared  effective by the SEC, the
         Target  Company  shall  deliver,  and shall cause legal counsel for the
         Target Company to deliver,  to the transfer agent for such  Registrable
         Securities  (with copies to Seaside whose  Registrable  Securities  are
         included  in  such  Registration   Statement)  confirmation  that  such
         Registration  Statement has been  declared  effective by the SEC in the
         form attached hereto as Exhibit A.

         (o)  The  Target  Company  shall  take  all  other  reasonable  actions
         necessary  to  expedite  and  facilitate   disposition  by  Seaside  of
         Registrable Securities pursuant to a Registration Statement.

         4. OBLIGATIONS OF SEASIDE.

                                       6
<PAGE>

         Seaside agrees that, upon receipt of any notice from the Target Company
of the happening of any event of the kind described in Section 3(f) or the first
sentence  of  3(e),   Seaside  will  immediately   discontinue   disposition  of
Registrable  Securities pursuant to any Registration  Statement(s) covering such
Registrable Securities until Seaside's receipt of the copies of the supplemented
or amended prospectus  contemplated by Section 3(e) or receipt of notice that no
supplement or amendment is required.  Notwithstanding  anything to the contrary,
the  Target  Company  shall  cause  its  transfer  agent to  deliver  unlegended
certificates for shares of Common Stock to a transferee of Seaside in accordance
with the terms of the Securities  Purchase Agreement in connection with any sale
of  Registrable  Securities  with  respect to which  Seaside has entered  into a
contract for sale prior to Seaside's receipt of a notice from the Target Company
of the happening of any event of the kind described in Section 3(f) or the first
sentence  of 3(e) and for  which  Seaside  has not yet  settled.  Seaside  shall
furnish  the  Target  Company  with  such  information  as  the  Target  Company
reasonably requests for disclosure in the Registration  Statement as required by
the rules and regulations of the SEC.

5.       EXPENSES OF REGISTRATION.

         All expenses  incurred in  connection  with  registrations,  filings or
qualifications pursuant to Sections 2 and 3, including,  without limitation, all
registration,  listing and qualifications fees,  printers,  legal and accounting
fees shall be paid by the Target  Company,  except  that  Seaside  shall pay all
discounts and commission relating to the sale of Registrable  Securities and the
fees of any attorneys or advisors retained by Seaside.

         6.       INDEMNIFICATION.

         With  respect  to  Registrable  Securities  which  are  included  in  a
Registration Statement under this Agreement:

         (a) To the fullest  extent  permitted by law, the Target  Company will,
         and hereby  does,  indemnify,  hold  harmless and defend  Seaside,  the
         directors,  officers, partners, employees, agents,  representatives of,
         and each Person, if any, who controls Seaside within the meaning of the
         1933 Act or the 1934 Act (each, an "Indemnified  Person"),  against any
         losses, claims,  damages,  liabilities,  judgments,  fines,  penalties,
         charges,  costs, reasonable attorneys' fees, amounts paid in settlement
         or  expenses,  joint or several  (collectively,  "Claims")  incurred in
         investigating, preparing or defending any action, claim, suit, inquiry,
         proceeding,  investigation  or appeal  taken from the  foregoing  by or
         before any court or  governmental,  administrative  or other regulatory
         agency, body or the SEC, whether pending or threatened,  whether or not
         an  indemnified  party  is or  may  be a  party  thereto  ("Indemnified
         Damages"),  to which any of them may  become  subject  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  in  a
         Registration  Statement or any  post-effective  amendment thereto or in
         any filing made in connection  with the  qualification  of the offering
         under the  securities or other "blue sky" laws of any  jurisdiction  in

                                       7
<PAGE>

         which  Registrable  Securities are offered ("Blue Sky Filing"),  or the
         omission or alleged  omission to state 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  any  final  prospectus  (as  amended  or
         supplemented,  if the Target  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  Target  Company of the 1933 Act,  the 1934 Act,  any
         other law, including,  without limitation, any state securities law, or
         any rule or regulation there under relating to the offer or sale of the
         Registrable  Securities  pursuant  to  a  Registration  Statement  (the
         matters in the foregoing clauses (i) through (iii) being, collectively,
         "Violations"). The Target Company shall reimburse Seaside and each such
         controlling  person  promptly as such expenses are incurred and are due
         and payable,  for any legal fees or  disbursements  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)(x)
         shall not apply to a Claim by an  Indemnified  Person arising out of or
         based upon a Violation  which occurs in reliance upon and in conformity
         with information  furnished in writing to the Target Company by Seaside
         expressly  for  use  in  connection   with  the   preparation   of  the
         Registration  Statement  or any such  amendment  thereof or  supplement
         thereto;  (y) shall not be  available to the extent such Claim is based
         on a failure of Seaside  to  deliver  or to cause to be  delivered  the
         prospectus made available by the Target Company, if such prospectus was
         timely made available by the Target  Company  pursuant to Section 3(c);
         and (z) shall not apply to amounts paid in  settlement  of any Claim if
         such  settlement is effected  without the prior written  consent of the
         Target Company, which consent shall not be unreasonably withheld.  Such
         indemnity  shall  remain in full  force and  effect  regardless  of any
         investigation  made by or on behalf of the Indemnified Person and shall
         survive the transfer of the Registrable  Securities by Seaside pursuant
         to Section 9 hereof.

         (b) In connection  with a  Registration  Statement,  Seaside  agrees to
         severally and not jointly  indemnify,  hold harmless and defend, to the
         same extent and in the same manner as is set forth in Section 6(a), the
         Target Company, each of its directors, each of its officers, employees,
         representatives,  or agents and each  Person,  if any, who controls the
         Target Company within the meaning of the 1933 Act or the 1934 Act (each
         an "Indemnified  Party"),  against any Claim or Indemnified  Damages to
         which any of them may become subject,  under the 1933 Act, the 1934 Act
         or otherwise, insofar as such Claim or Indemnified Damages arise out of
         or is based upon any Violation, in each case to the extent, and only to
         the  extent,  that  such  Violation  occurs  in  reliance  upon  and in
         conformity with written information  furnished to the Target Company by
         Seaside   expressly  for  use  in  connection  with  such  Registration
         Statement;  and,  subject to Section 6(d),  Seaside will  reimburse any
         legal or other expenses  reasonably incurred by them in connection with
         investigating or defending any such Claim; provided,  however, that the
         indemnity  agreement  contained in this Section 6(b) and the  agreement
         with respect to contribution  contained in Section 7 shall not apply to
         amounts paid in settlement of any Claim if such  settlement is effected
         without the prior written  consent of Seaside,  which consent shall not
         be unreasonably  withheld;  provided,  further,  however,  that Seaside

                                       8
<PAGE>

         shall be liable under this Section 6(b) for only that amount of a Claim
         or  Indemnified  Damages as does not exceed the net proceeds to Seaside
         as a result  of the sale of  Registrable  Securities  pursuant  to such
         Registration  Statement.  Such indemnity shall remain in full force and
         effect  regardless  of any  investigation  made by or on behalf of such
         Indemnified  Party and shall  survive the  transfer of the  Registrable
         Securities by Seaside pursuant to Section 9.  Notwithstanding  anything
         to  the  contrary  contained  herein,  the  indemnification   agreement
         contained in this Section 6(b) with respect to any prospectus shall not
         inure to the benefit of any Indemnified  Party if the untrue  statement
         or omission of material fact  contained in the prospectus was corrected
         and such new prospectus was delivered to Seaside prior to Seaside's use
         of the prospectus to which the Claim relates.

         (c) Promptly  after  receipt by an  Indemnified  Person or  Indemnified
         Party under this Section 6 of notice of the  commencement of any action
         or  proceeding   (including  any  governmental  action  or  proceeding)
         involving a Claim, such Indemnified  Person or 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  Person or
         the Indemnified Party, as the case may be; provided,  however,  that an
         Indemnified  Person or Indemnified Party shall have the right to retain
         its own  counsel  with the fees and  expenses  of not more than one (1)
         counsel for such Indemnified  Person or Indemnified Party to be paid by
         the  indemnifying  party,  if, in the  reasonable  opinion  of  counsel
         retained by the indemnifying  party, the representation by such counsel
         of the  Indemnified  Person or Indemnified  Party and the  indemnifying
         party  would be  inappropriate  due to  actual or  potential  differing
         interests between such Indemnified  Person or Indemnified Party and any
         other  party  represented  by  such  counsel  in such  proceeding.  The
         Indemnified Party or Indemnified  Person shall cooperate fully with the
         indemnifying party in connection with any negotiation or defense of any
         such action or claim by the indemnifying party and shall furnish to the
         indemnifying  party  all  information   reasonably   available  to  the
         Indemnified Party or Indemnified Person which relates to such action or
         claim.  The  indemnifying  party  shall keep the  Indemnified  Party or
         Indemnified  Person fully apprised at all times as to the status of the
         defense  or  any  settlement  negotiations  with  respect  thereto.  No
         indemnifying  party shall be liable for any  settlement  of any action,
         claim  or  proceeding  effected  without  its  prior  written  consent;
         provided,  however,  that the indemnifying party shall not unreasonably
         withhold,  delay or condition its consent. No indemnifying party shall,
         without  the  prior  written  consent  of  the  Indemnified   Party  or
         Indemnified Person,  consent to entry of any judgment or enter into any
         settlement   or  other   compromise   which  does  not  include  as  an
         unconditional  term  thereof the giving by the claimant or plaintiff to
         such  Indemnified  Party or  Indemnified  Person of a release  from all
         liability   in  respect  to  such   claim  or   litigation.   Following
         indemnification as provided for hereunder, the indemnifying party shall
         be subrogated  to all rights of the  Indemnified  Party or  Indemnified
         Person  with  respect  to all  third  parties,  firms  or  corporations
         relating  to the matter for which  indemnification  has been made.  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

                                       9
<PAGE>

         Person or Indemnified  Party under this Section 6, except to the extent
         that the indemnifying party is prejudiced in its ability to defend such
         action.

         (d) 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 and when bills are received or Indemnified
         Damages are incurred.

         (e) The indemnity  agreements  contained herein shall be in addition to
         (i) any cause of action or similar  right of the  Indemnified  Party or
         Indemnified  Person against the indemnifying  party or others, and (ii)
         any  liabilities the  indemnifying  party may be subject to pursuant to
         the law.

         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:
(i) no seller of Registrable  Securities guilty of fraudulent  misrepresentation
(within  the  meaning of Section  11(f) of the 1933 Act)  shall be  entitled  to
contribution  from any seller of  Registrable  Securities  who was not guilty of
fraudulent misrepresentation; and (ii) 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 1934 ACT.

         With a view to making  available  to Seaside  the  benefits of Rule 144
promulgated under the 1933 Act or any similar rule or regulation of the SEC that
may at any time permit  Seaside to sell  securities of the Target Company to the
public without registration ("Rule 144") the Target 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 Target  Company  under the 1933 Act and the
         1934  Act so  long  as the  Target  Company  remains  subject  to  such
         requirements  (it being  understood that nothing herein shall limit the
         Target  Company's  obligations  under  Section  4(c) of the  Securities
         Purchase  Agreement) and the filing of such reports and other documents
         as are required by the applicable provisions of Rule 144; and

         (c) furnish to Seaside so long as Seaside owns Registrable  Securities,
         promptly upon request,  (i) a written  statement by the Target  Company
         that it has complied with the reporting  requirements  of Rule 144, the
         1933 Act and the 1934  Act,  (ii) a copy of the most  recent  annual or
         quarterly  report of the  Target  Company  and such other  reports  and

                                       10
<PAGE>

         documents  so  filed  by the  Target  Company,  and  (iii)  such  other
         information  as may be reasonably  requested to permit  Seaside to sell
         such securities pursuant to Rule 144 without registration.

       9.         AMENDMENT OF REGISTRATION RIGHTS.

         Provisions 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 Target
Company and Seaside.  Any amendment or waiver  effected in accordance  with this
Section  9 shall  be  binding  upon  Seaside  and the  Target  Company.  No such
amendment  shall be effective to the extent that it applies to fewer than all of
the holders of the Registrable Securities.  No consideration shall be offered or
paid to any  Person  to amend or  consent  to a waiver  or  modification  of any
provision of any of this Agreement unless the same consideration also is offered
to all of the parties to this Agreement.

       10.        MISCELLANEOUS.

         (a) A  Person  is  deemed  to be a  holder  of  Registrable  Securities
         whenever  such  Person  owns  or  is  deemed  to  own  of  record  such
         Registrable  Securities.  If the Target  Company  receives  conflicting
         instructions,  notices or  elections  from two (2) or more Persons with
         respect to the same  Registrable  Securities,  the Target Company shall
         act upon the basis of  instructions,  notice or election  received from
         the registered owner of such Registrable Securities.

         (b) Any notices,  consents, waivers or other communications required or
         permitted  to be given  under  the terms of this  Agreement  must be in
         writing and will be deemed to have been  delivered:  (i) upon  receipt,
         when delivered  personally;  (ii) upon receipt,  when sent by facsimile
         (provided    confirmation    of   transmission   is   mechanically   or
         electronically  generated  and kept on file by the sending  party);  or
         (iii) one (1) business day after  deposit with a nationally  recognized
         overnight  delivery  service,  in each case  properly  addressed to the
         party to receive the same. The addresses and facsimile numbers for such
         communications shall be:

If to the Target Company, to:        Secured Diversified Investment, Ltd.
                                     5030 Campus Drive
                                     Newport Beach, CA 92660
                                     Attention:  CEO
                                     Telephone: (949) 851-1069
                                     Facsimile: (949) 851-1024

                                       11
<PAGE>

If to Seaside:                       Seaside Investments PLC
                                     30 Farringdon Street
                                     London EC4A 4HJ
                                     Attention:  Harry Pearl
                                     Telephone:  44.207.569.0044
                                     Facsimile:  44.207.724.0090

Written  confirmation  of receipt  (A) given by the  recipient  of such  notice,
consent,  waiver or other  communication,  (B)  mechanically  or  electronically
generated by the sender's facsimile machine containing the time, date, recipient
facsimile  number  and an image of the first  page of such  transmission  or (C)
provided by a courier or overnight courier service shall be rebuttable  evidence
of  personal  service,  receipt  by  facsimile  or  receipt  from  a  nationally
recognized  overnight  delivery  service in accordance  with clause (i), (ii) or
(iii) above, respectively.

                  (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.

                  (d) The  laws of the  State of  California  shall  govern  all
issues  concerning the relative  rights of the Target Company and Seaside as its
stockholders.  All  other  questions  concerning  the  construction,   validity,
enforcement  and  interpretation  of this  Agreement  shall be  governed  by the
internal laws of the State of New York,  without  giving effect to any choice of
law or conflict of law  provision  or rule  (whether of the State of New York or
any other  jurisdiction)  that would  cause the  application  of the laws of any
jurisdiction  other than the State of New York.  Each party  hereby  irrevocably
submits  to the  non-exclusive  jurisdiction  of the  Courts of the State of New
York, sitting in New York County and federal courts for the District of New York
sitting New York, New York, for the adjudication of any dispute  hereunder or in
connection  herewith or with any  transaction  contemplated  hereby or discussed
herein,  and hereby  irrevocably  waives,  and agrees not to assert in any suit,
action  or  proceeding,  any  claim  that it is not  personally  subject  to the
jurisdiction of any such court,  that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is
improper.  Each party hereby  irrevocably waives personal service of process and
consents  to process  being  served in any such suit,  action or  proceeding  by
mailing a copy thereof to such party at the address for such notices to it under
this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof.  Nothing contained herein shall be deemed
to limit in any way any right to serve  process in any manner  permitted by law.
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 in that jurisdiction or the
validity or  enforceability  of any  provision  of this  Agreement  in any other
jurisdiction.  EACH PARTY HEREBY  IRREVOCABLY  WAIVES ANY RIGHT IT MAY HAVE, AND
AGREES  NOT TO  REQUEST,  A JURY  TRIAL  FOR  THE  ADJUDICATION  OF ANY  DISPUTE
HEREUNDER  OR IN  CONNECTION  HEREWITH OR ARISING OUT OF THIS  AGREEMENT  OR ANY
TRANSACTION CONTEMPLATED HEREBY.

                  (e) This  Agreement  and the  Purchase  Agreement  and related
documents  constitute the entire agreement among the parties hereto with respect
to the subject matter hereof and thereof.  There are no restrictions,  promises,

                                       12
<PAGE>

warranties or undertakings, other than those set forth or referred to herein and
therein.  This  Agreement  and the  Purchase  Agreement  and  related  documents
supersede all prior agreements and understandings  among the parties hereto with
respect to the subject matter hereof and thereof.

                  (f)  This  Agreement  shall  inure  to the  benefit  of and be
binding upon the permitted successors and assigns of each of the parties hereto.

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

                  (h) This Agreement may be executed in identical  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 facsimile  transmission of a copy of this
Agreement bearing the signature of the party so delivering this Agreement.

                  (i) 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.

                  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.

                  (j) 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.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       13
<PAGE>

IN WITNESS WHEREOF,  the parties have caused this Registration  Rights Agreement
to be duly executed as of day and year first above written.

                                        TARGET COMPANY:
                                        SECURED DIVERSIFIED INVESTMENT, LTD.

                                        By: /s/ Clifford L. Strand
                                            --------------------------------
                                        Name:   Clifford L. Strand
                                        Title:  President

                                       14Exhibit 10.4

                          INVESTOR RELATIONS AGREEMENT

This Investor Relations  Agreement is made between ROUND II INC, with offices at
1761 Cono Drive EL Cajon,  Ca 92020 hereafter  referred to as  "CONTRACTOR"  and
Secured Diversified  Investments,  Ltd with offices at 5030 Campus Drive Newport
Beach, ca 92660 hereafter referred to as "CLIENT".

A. Recitals.

         o        CONTRACTOR is engaged in the occupation of providing  investor
                  relations services to large and small businesses. The focus of
                  these  services  concerns  providing  business  entities  with
                  support  for  communicating  with  its  investor  base.  These
                  services include, but are not limited to, handling phone calls
                  and mailing  literature  created by  business  entities to its
                  investor base.

         o        CLIENT  is  a  business  entity  desirous  of  establishing  a
                  relationship with a firm to handle its communications with its
                  investor base.

WHEREFORE, CONTRACTOR AND CLIENT AGREE AS FOLLOWS:

1. Services to Be Performed.

     CONTRACTOR agrees to perform the following financial consulting services on
     CLIENT'S behalf:

                  a.       Perform  two  mailings  (up to 400  shareholders  per
                           mailing)  from  CLIENT  to its  investor  base;  this
                           includes  the  process  of  gathering,  managing  and
                           executing CLIENT'S investor relation's mailings;

                  b.       Respond  to all  Email  questions  and send hard copy
                           files of all questions and responses quarterly.

                  c.       Perform phone call  contacts  with CLIENT'S  investor
                           base with  information and content created by CLIENT;
                           and, respond to all incoming calls from  shareholders
                           or  prospective  investors,  as  well  as  build  and
                           maintain  call-inquires  database  (hard copy sent at
                           close of contract).

                  d.       Attend and moderate all Due Diligence  meeting either
                           CLIENT or CONTRACTOR deem appropriate.

                  e.       Monitor the (Ragingbull & Yahoo) Internet threads and
                           respond to inquiries about Client and its affiliates,
                           subsidiaries and other holdings.

                  f.       Build  a  database  of  all  contacts  interested  in
                           Secured Diversified Investments, Ltd

                                       1
<PAGE>

                  g.       Consult  with CLIENT in any matters  that fall within
                           the scope of this agreement.

                  h.       Will include a one-page  company  profile to be to be
                           updated          monthly          included         on
                           www.globalequitywatchers.com   or  one  of   CLIENT'S
                           financial web pages.

                  i.       Prepare a monthly report on shareholder sentiment.

                  j.       Moderate  and  attend   bimonthly   conference  calls
                           providing client and contractor deem necessary.

2. Payment from CLIENT to CONTRACTOR for Services Rendered.

     In  consideration  for the services to be provided by CONTRACTOR to CLIENT,
     CLIENT  agrees to pay  CONTRACTOR  500,000  shares of the  common  stock of
     Secured Diversified Investments,  Ltd and $ 1500.00 per month paid upon the
     signing of this  agreement.  All Shares will be 144 D and with a hold of no
     more then twelve months.  Restricted  shares will be taken at par value and
     as a one time retainer. Additional l cash payments will be made on the 15th
     of each month.

3. Terms of payment:

     Within 7 days of the  signing of this  contract.  No work shall begin until
payment is received.

4. Expenses.

     CLIENT shall be  responsible  for any and all costs related to the services
     to be performed by CONTRACTOR  under this  Agreement.  These costs include,
     but are not  limited to,  postage,  copying,  long  distance  phone  calls.
     CONTRACTOR will be responsible  for the mailing of up to 400  shareholders/
     Investors and  introductory  letter and company  profile.  CONTRACTOR  will
     invoice  CLIENT  for all  cost  associated  with  the  performance  of this
     project.  CLIENT  will  approve  all  expenses  over $ 100.00  in  writing.
     CONTRACTOR  will not bill any  expenses  unless  they exceed  $1500.00  per
     month. Any expenses above $1500.00 and over $100.00 must be pre-approved in
     writing.

5. Independent Contractor Status.

     CONTRACTOR  is  an   independent   contractor.   Neither   CONTRACTOR   nor
     CONTRACTOR'S  employees  (if any) or  contract  personnel  are, or shall be
     deemed,  CLIENT'S employees.  In his capacity as an independent contractor,
     CONTRACTOR agrees and represents, and CLIENT agrees as follows:  CONTRACTOR
     reserves the right to perform  services for others  during the term of this
     Agreement;   however,   CONTRACTOR  will  not  perform   services  for  any
     competitors of CLIENT'S during the term of this Agreement,  or for a period
     of two years after the services  rendered  under this  Agreement  have been

                                       2
<PAGE>

     completed.  CONTRACTOR  has the sole right to control and direct the means,
     manner and method by which he performs the services to be rendered pursuant
     to this  Agreement.  CONTRACTOR  has the  right  to  perform  the  services
     required  under this  Agreement  at any place or location or at any time he
     determines is  appropriate.  CONTRACTOR  has the power to hire  assistants,
     subcontractors,  or to use  employees or contract  personnel to provide the
     services  agreed to herein.  The services to be provided by  CONTRACTOR  to
     CLIENT  are to be  performed  solely  by  CONTRACTOR,  or  any  assistants,
     subcontractors,  employees or contract  personnel whom CONTRACTOR deems are
     necessary to perform  said  services.  CLIENT shall not hire,  supervise or
     control any assistants to help CONTRACTOR, and neither shall CLIENT provide
     any training to said personnel.  CLIENT shall not require that  CONTRACTOR,
     or  any  of  CONTRACTOR'S  employees,  assistants,  contract  personnel  or
     subcontractors devote full time to the services to be performed herein.

6. Permits and Licenses.

     CONTRACTOR  has complied with all federal,  state and local laws  requiring
     business  permits,  certificates,  and  licenses  required to carry out the
     services to be performed under this Agreement.

7. State and Federal Taxes.

     CLIENT  will not  withhold  FICA from  CONTRACTOR'S  payments  or make FICA
     payments  on  CONTRACTOR'S  behalf;  Client  will not make state of federal
     unemployment   compensation   contributions  on  CONTRACTOR'S  behalf;  or,
     withhold state or federal income taxes from CONTRACTOR'S payments.

8. Fringe Benefits.

     CONTRACTOR  understands that neither CONTRACTOR nor Consultant's  employees
     or contract  personnel are eligible to participate in any employee pension,
     health, vacation pay, sick pay, or other fringe benefit plan of CLIENT.

9. Workers' Compensation.

     CLIENT  shall  not  obtain  workers'  compensation  insurance  on behalf of
     CONTRACTOR or any of  Consultant's  employees,  or contract  personnel.  If
     CONTRACTOR  does have to hire  employees or contract  personnel in order to
     perform the services  contemplated  under this  Agreement,  then CONTRACTOR
     will bear all responsibility for acquiring workers' compensation  insurance
     and agrees to hold CLIENT harmless from any claim for workers' compensation
     benefits filed by one of CONTRACTOR'S employees, subcontractors or contract
     personnel  in  performing  the  services  rendered  under  this  Agreement.
     CONTRACTOR  also  agrees  to  hold  CLIENT  harmless  from  all  costs  and
     attorney's fees in the event that any claim contemplated under this section
     by one of CONTRACTOR'S employees or contract personnel is filed.

                                       3
<PAGE>

10. Unemployment Compensation.

     CLIENT shall make no state or federal unemployment compensation payments on
     behalf of CONTRACTOR or any of Consultant's  subcontractors,  employees, or
     contract  personnel.  Consultant  will not be entitled to these benefits in
     connection with work performed under this Agreement.

11. Insurance.

     CLIENT shall not provide  insurance  coverage of any kind for CONTRACTOR or
     Consultant's  employees or contract  personnel.  Further,  CONTRACTOR shall
     hold CLIENT  harmless  from any loss or liability  arising from  performing
     services under this Agreement.

12. Term of Agreement.

     This Agreement  will become  effective when signed by both parties and will
     terminate 6 months from the signing of this agreement.

13. Termination of the Agreement.

     With  reasonable  cause,  either  CLIENT or CONTRACTOR  may terminate  this
     Agreement, effective immediately upon giving written notice to the party at
     the address noted in this Agreement,  upon certified  mail,  return receipt
     requested.  "Reasonable  Cause" is  limited  to a  material  breach of this
     Agreement   including,   but  not  limited  to,  CLIENT'S  failure  to  pay
     CONTRACTOR,  or  CONTRACTOR'S  failure  to perform  the agreed to  services
     herein.

14. Entire Agreement.

     This Agreement is the entire  agreement of the parties,  and all other oral
     or written  understandings,  agreements,  and promises are merged into this
     document.

15. Intellectual Property Ownership.

     CONTRACTOR  assigns to CLIENT all patent,  copyright,  trademark  and trade
     secret  rights in anything  created or developed by  CONTRACTOR  under this
     Agreement.  CONTRACTOR agrees to help CLIENT secure any formal intellectual
     property  rights in said  interests  by  completing  any and all  paperwork
     necessary.  However, Client agrees to pay all of CONTRACTOR'S costs in this
     regard, including attorney's fees relevant to this assignment.

16. Confidentiality.

     CONTRACTOR  will not  disclose or use,  either  during or after the term of
     this  Agreement,  any  proprietary  or  confidential  information of CLIENT
     without  CLIENT'S prior written  consent except to the extent  necessary to
     perform   services  on  CLIENT'S   behalf.   Proprietary  or   confidential
     information includes:  Written, printed, graphic or electronically recorded
     materials  furnished  by CLIENT  for  CONTRACTOR  to use;  Business  plans,

                                       4
<PAGE>

     customer lists, operating procedures,  financial statements, trade secrets,
     design formulas, accounting information, know-how, computer programs and/or
     inventories and improvements of any kind; and, Information belonging to any
     of CLIENT'S  customers and suppliers about whom Consultant gained knowledge
     as a result of CONTRACTOR'S services to CLIENT.

17. Resolving Disputes.

     Should a dispute between the parties arise over the services rendered under
     this Agreement, its interpretation, or any other aspect of the relationship
     between  CONTRACTOR  and CLIENT,  the parties agree to submit the matter to
     binding  arbitration in the San Diego County Superior Court and pursuant to
     the  arbitration  procedures  outlined  in the  California  Code  of  Civil
     Procedure.  Costs shall be borne  equally by the  parties.  Judgment by the
     arbitrator may be entered in any court of competent jurisdiction. Costs and
     fees may be awarded to the prevailing party.

18. Applicable Law.

     This Agreement is governed and shall be construed  according to the laws of
     the State of California.

19. Notices.

     All notices and other  communications  in  connection  with this  Agreement
     shall be in writing and shall be  considered  given  either when  delivered
     personally  or five days after deposit into the U.S. Mail with full postage
     prepaid thereon, certified mail, return receipt requested.

20. No Partnership.

     This Agreement does not create a partnership relationship.  CONTRACTOR does
     not have the authority to enter into contracts on CLIENT'S behalf.

21. Assignment and Delegation.

     CONTRACTOR  may not assign any  obligations  under this  Agreement  without
CLIENT'S prior written approval.

22. Authority to Bind Principals.

     Both  CLIENT and  CONTRACTOR  represent  that the  signatories  hereto have
     complete  authority to bind their principal  corporations or other business
     entities to the terms of this Agreement.

                                       5

<PAGE>

CONTRACTOR:

ROUND II INC
PRESIDENT
ANDREW S. AUSTIN,

Dated: August 19, 2004

------------------------------------------------------

CLIENT:
SECURED DIVERSIFIED INVESTMENTS, LTD
PRESIDENT AND CHAIRMAN OF THE BOARD
CLIFFORD L. STRAND,

Dated: August 19, 2004
------------------------------------------------------

                                       6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]