Document:

THIS
      NOTE AND THE STOCK INTO WHICH IT IS CONVERTIBLE HAVE NOT BEEN
REGISTERED
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OF THE UNITED
STATES
      OF AMERICA (THE "ACT") OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
      ("STATE ACT"). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT AND
      NOT WITH A VIEW TO, OR IN
      CONNECTION
      WITH, THE SALE OF DISTRIBUTION THEREOF,
      AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, OR OTHERWISE
TRANSFERRED
      FOR VALUE, DIRECTLY OR INDIRECTLY, IN
      THE
      ABSENCE
      OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND COMPLIANCE
      WITH APPLICABLE STATE ACTS, OR PURSUANT TO AN EXEMPTION FROM
      REGISTRATION UNDER THE ACT AND UNDER APPLICABLE STATE ACTS, THE
AVAILABILITY
      OF WHICH ARE ESTABLISHED BY MEANS OF AN OPINION TO SUCH EFFECT
      IN
      FORM
      AND SUBSTANCE SATISFACTORY TO THE COMPANY AND RENDERED BY
      LEGAL COUNSEL SATISFACTORY TO THE COMPANY.

     

    GLOBAL
      IT HOLDINGS, INC.

    SERIES
      A 6.5% CONVERTIBLE PROMISSORY NOTE

     

    
      	 	
              $250,000.00

            	
              New
                York, New York

            
	 	 	
              August
                24, 2004

            

    

    

    
      	
            	1.	
              Promise
                to Pay FOR
                VALUE RECEIVED, GLOBAL IT HOLDINGS, INC, a Nevada
                corporation (the "Company") promises
                to pay, in lawful money of the United States of America, to the
                order of Advantage Fund I, LLC or assignee (the "Holder"), at
                Aventura, Florida or at such other
                place as Holder shall from time to time direct, on or before December
                31,
                2004, the principal amount
                of Two Hundred and Fifty Thousand Dollars and no cents ($250,000.00)
                plus
                interest on the
                unpaid principal balance thereof at a rate of Six and one-half percent
                (6.5%) per year from the date
                hereof until paid in full. Interest on this note shall be computed
                on a
                365/365 simple interest basis,
                that is, by applying the ratio of the annual interest rate by the
                number
                of days in the year times,
                outstanding principal balance times the actual number of days that
                the
                principal balance is outstanding.
                This Note shall be payable interest-only, in arrears, on the last
                day of
                each calendar months,
                commencing upon the first such date subsequent to the date of execution
                hereof, and due and payable in full, principal and interest, twenty-four
                months from the date hereof. At the option of
                the Holder, the interest payable may be paid in cash or convertible
                into
                common stock in accordance
                with Section 3, herein provided, however, that in no event shall
                the
                Holder be entitled to
                convert this Debenture for a number of shares of Common Stock in
                excess of
                that number of shares
                of Common Stock which, upon giving effect to such conversion, would
                cause
                the aggregate number
                of shares of Common Stock beneficially owned by the Holder and its
                affiliates to exceed 4.99%
                of the outstanding shares of the Common Stock following such conversion.
                All payments shall
                be applied first to accrued, unpaid interest, next to any collection
                costs, and the remainder against
                principal. This note may be not be redeemed by the Company prior
                to its
                due date without the
                express permission of the Holder. The Company at its option shall
                have the
                right to redeem the Note as set forth
                below.

            

    

     

    

    
      	
            	2.	
              Default.
                The
                Company shall be in default under this Note upon the occurrence of
                any of
                the following
                events:

            

    

    
      	 	 	 

      	
            	2.1	
              The
                Company fails to timely perform any of its obligations under, or
                otherwise
                breaches any
                covenants or warranties of this
                Note;

            

    

    
      	 	 	 

      	
            	2.2	
              Any
                statement, representation, or warranty made by the Company or its
                agents
                to Holder shall
                prove to have been false or materially misleading when made;
                and/or,

            

      	 	 	 

    

    
      	
            	2.3	
              The
                Company shall become insolvent, or unable to meet its obligations
                as they
                become due,
                or shall file or have filed against it, voluntarily or involuntarily,
                a
                petition under the United
                States Bankruptcy Code or shall procure or suffer the appointment
                of a
                receiver for any substantial portion of its properties, or shall
                make an
                assignment for benefit of creditors,
                or shall initiate or have initiated against it, voluntarily or
                involuntarily, any act, process, or proceedings under any insolvency
                law
                or other statute or law providing for the modifications
                or adjustment of the rights of
                creditors.

            

    

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    Upon
      any event of default, Holder may declare the entire unpaid principal balance
      of
      this Note
      and all accrued unpaid interest immediately due, without notice, and the Company
      agrees to pay such amount immediately in such event. In the event of default,
      the Company agrees
      to pay all of Holder's costs of collection, including attorney's fees; this
      shall include legal
      expenses for the bankruptcy proceedings or insolvency proceedings (including
      efforts to modify or vacate any automatic stay or injunction), court costs,
      appeals, post-judgement collection
      expenses and any other amount provided by law. The parties intend this provision
      to
      be given the most liberal construction possible and to apply to any
      circumstances in which such party reasonably incurs expenses. No delay or
      omission on the part of any Holder hereof
      in exercising any right or option herein given to such Holder shall impair
      such
      right or
      option or be considered as a waiver thereof or acquiescence in any default
      hereunder. The
      Company hereby waives any applicable statue of limitations, presentment, demand
      for payment,
      protest and notice of dishonor.

    

    
      	
            	3	
              Conversion.
                The Holder shall have conversion rights as follows (the "Conversion
                Rights"):

            

    

    

    
      	
            	3.1	
              Right
                To Convert. Subject to subsection 3.3, this Note shall be convertible,
                in
                whole or in
                part, at the option of the Holder, at any time after the date of
                issuance
                of this Note, and from time to time thereafter, at the office of
                the
                Company, into such number of fully paid and
                non-assessable shares of Common Stock of the Company as is determined
                as
                follows:

            

    

     

    The
      Conversion Price per share shall be equal to the lesser of (1) the average
      of
the
      lowest of three day trading prices during the five trading days immediately
      prior
      to
      the Conversion Date multiplied by .80, or (2) the average of the lowest of
      three
      day trading prices during the five trading days immediately prior to the
funding
      date(s).

    

    
      	
            	3.2	
              Mechanics
                of Conversion. Before Holder shall be entitled to convert this Note,
                in
                whole or
                in part, into shares of Common Stock, he shall surrender this Note
                at the
                office of the Company,
                and shall give written notice in person, or by facsimile, mail, postage
                prepaid, to
                the Company at its principal corporate office, of Holder's election
                to
                convert the Note and
                shall state therein the portion of the principal amount of the Note
                to be
                converted and the
                name or names in which the certificate or certificates for shares
                of
                Common Stock are to
                be issued, the address of such persons to be used for record purposes,
                and
                the address(s)
                to which the certificate(s) should be delivered if different from
                the
                record address.
                Such notice shall be on the form attached to this Note as Exhibit
                'A'.
                The
                Company
                shall as soon as practicable thereafter, issue and deliver to Holder,
                or
                to the nominee
                or nominees of Holder, a certificate or certificates for the number
                of
                shares of Common
                Stock to which Holder shall be entitled as aforesaid and, if less
                than the
                full principal
                amount of the note is converted, a new Note representing the uncoverted
                balance
                which remains outstanding. Any interest accrued but unpaid on the
                converted portion of the Note shall be paid upon conversion; any
                interest
                accrued but unpaid on the non-converted
                portion of the Note shall be paid in due course under the replacement
                Note.
                Such conversion shall be deemed to have been made immediately prior
                to the
                close of business on the date of such surrender of the Note to be
                converted, and the person or persons entitled to receive the shares
                of
                Common Stock issuable upon such conversion shall
                be treated for all purposes as the record holder or holders of such
                shares
                of Common Stock
                as of such date.

            

    

    

    
      	
            	3.3	
              No
                Impairment. The Company will not, by amendment of its Articles of
                Incorporation or
                through any reorganization, recapitalization, transfer of assets,
                consolidation, merger, dissolution,
                issue or sale of securities or any other voluntary action, avoid
                or seek
                to avoid
                the observance or performance of any of the terms to be observed
                or
                performed hereunder
                by the Company, but will at all times in good faith assist in the
                carrying
                out of all
                the provisions of this Section 3 and in the taking of all such action
                as
                may be necessary
                or appropriate in order to protect the Conversion Rights of the Holder
                against impairment.

            

    

    
 

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
 

    
      	
            	3.4	
              No
                Fractional Shares and Certificates as to Conversion. No fractional
                shares
                shall be issued
                upon conversion of the Note, and the number of shares of Common Stock
                to
                be issued
                shall be rounded to the nearest whole
                share.

            

    

    

    
      	
            	3.5	
              Notices
                of Record Date. In the event of any taking by the Company of a record
                of
                the holders
                of any class of securities for the purpose of determining the holders
                thereof who are
                entitled to receive any dividend or other distribution, any right
                to
                subscribe for, purchase
                or otherwise acquire any shares of stock of any class or any other
                securities or property,
                or to receive any other right, the Company shall mail to Holder,
                at least
                20 days prior
                to the date specified therein, a notice specifying the date on which
                any
                such record is
                to be taken for the purpose of such dividend, distribution, or right,
                and
                the amount and character
                of such dividend, distribution, or right. In the case of rights to
                acquire
                any shares
                of stock or any other class of securities or property, Company shall
                grant
                to Holder the same rights as if the Holder had converted his Note
                upon the
                Record Date.

            

    

    

    
      	
            	3.6	
              Reservation
                of Stock Issuable Upon Conversion. The
                Company shall at all times reserve
                and keep available out of its authorized but unissued shares of Common
                Stock solely
                for the purpose of effecting the conversion of the Notes such number
                of
                shares of Common
                Stock as shall from time to time be sufficient to effect the conversion
                of
                all outstanding
                Notes; and if at any time the number of authorized but unissued shares
                of
                Common Stock shall not be sufficient to effect the conversion of
                all
                then-outstanding Notes,
                in addition to such other remedies as shall be available to the Holder,
                the Company
                will take such corporate action as may, in the opinion of its counsel,
                be
                necessary
                to increase its authorized but unissued shares of Common Stock to
                such
                number
                of shares as shall be sufficient for such
                purposes.

            

    

    

    
      	
            	3.7	
              Notices.
                Any
                notice required by the provisions of this Section 3 to be given to
                the
                Holder
                shall be deemed given if deposited in the United States mail, postage
                prepaid and certified,
                return receipt requested and addressed to Holder of record at his
                address
                appearing
                on the books of the Company.

            

    

    

    
      	
            	4	
              Redemption.
                The
                Company at its option shall have the right to redeem, with three
                (3)
                business days advance
                written notice (the "Redemption
                Notice"), a
                portion or all outstanding convertible debenture. The
                redemption price shall be one hundred twenty percent (120%) of the
                amount
                redeemed plus accrued interest.

            

    

    

    
      	
            	5	
              Assignment.
                Subject to the restrictions on transfer herein, the Holder may transfer
                this Note in whole or
                in part, in the event of partial transfer(s), the Company will exchange
                this Note for new Notes as instructed
                by the Holder equal to the total of this Note, by endorsement (by
                the
                Holder of this Note executing the form of assignment attached to
                this Note
                as Exhibit 'B')
                and
                delivery in the same manner as
                any negotiable instrument transferable by endorsement and delivery.
                Until
                this Note is transferred on
                the Company books, the Company may treat the registered Holder of
                this
                Note as the absolute owner
                of this Note for all purposes, despite any notice to the contrary.
                The
                Company's obligations hereunder
                may not be transferred without prior written consent of the Holder;
                any
                attempt to transfer without
                consent shall be void ab
                initio.

            

    

    

    
      	
            	6	
              Restrictions
                on Transfer. This Note and the stock into which it is convertible
                have not
                been registered under
                the Securities act of 1933, as amended, of the United States of America
                (the "Act") or the securities
                laws of any sate of the United States ("State Act"). This Note and
                the
                stock into which it is convertible
                have been acquired for investment and not with a view to, or in connection
                with, the sale or distribution
                thereof, and may not be offered, sold, pledged, hypothecated. Or
                otherwise
                transferred for value
                directly or indirectly, in the absence of an effective registration
                statement under the Act and compliance with applicable State Acts,
                or
                pursuant to an exemption from registration under the Act and
                under applicable State Acts, the availability of which are established
                by
                means of an opinion to such
                effect. In form and substance satisfactory to the Company and rendered
                by
                legal counsel satisfactory
                to the Company. The
                certificates representing the shares into which this Note is convertible
                shall bear the foregoing legend.

            

    

    

    
      	
            	7	
              Registration
                of Underlying Stock & Penalties. The
                Company agrees that within ninety days of the date of this Note,
                the
                Company shall file a registration statement with the Securities and
                Exchange Commission
                on form SB-2 or other applicable form to register 250% of the then
                shares
                to be issued upon conversion of the Notes. The registrations statement
                shall call for, amongst other items more fully described therein,
                the
                Company to use its best efforts to have such registration statement
                declared
                effective at the earliest possible time. Should
                such registration statement not be deemed effective
                within one hundred and eighty days from the date of the date of the
                funding of the Note, the Company
                shall pay a penalty to the Holder in an amount equal to 2% of the
                principal balance and any and
                all accrued interest then outstanding per month or any part thereof,
                until
                such time as the registration
                statement is declared effective. Company agrees to keep such registration
                statement effective
                until the maturity of the Note. Should
                there come a time when the number of shares that have
                been registered is less than 200% of the total number of shares to
                be
                issued upon conversion, the Company
                agrees that it will amend such registration statement such that a
                minimum
                of 200% of the shares
                to be issued upon conversion are on such registration
                statement.

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
            	8	
              Replacement.
                On
                receipt of evidence reasonably satisfactory to the Company of the
                loss,
                theft, destruction
                or mutilation of this Note and, in the event of such occurrence,
                on
                delivery of an indemnity agreement or bond reasonably satisfactory
                in form
                and amount to the Company or, in the case of mutilation, on surrender
                and
                cancellation of this Note, the Company at its expense will execute
                and
                deliver, in lieu of this Note, a new Note of like tenor. On surrender
                of
                this Note for exchange and subject to the provisions of this Note
                on
                compliance with the Securities Act, the Company, at its expense
                will issue to or on the order of the Holder of this Note a new Note
                or
                Notes of like tenor, in the name
                of that Holder or as that Holder (on payment by the Holder of any
                applicable transfer taxes) may direct,
                in the same total principal amount as this
                Note.

            

    

    

    
      	
            	9	
              Appointment
                of Agent. The Company may, on written notice to the Holder of this
                Note,
                appoint an agent for the purposes of issuing Common Stock or other
                securities on the conversion of this Note and of
                replacing or exchanging this Note; and after that appointment occurs
                any
                such issuance, replacement,
                or exchange shall be made at that office by that
                agent.

            

    

    

    
      	
            	10	
              Miscellaneous.

            

    

    

    
      	
            	10.1	
              Amendment.
                No supplement, modification, or amendment of this Note shall be binding
                unless
                executed in writing by all the parties
                hereto.

            

    

    

    
      	
            	10.2	
              Waiver.
                No waiver of any of the provisions of this Note shall be deemed,
                or shall
                constitute,
                a waiver of any other provision, whether or not similar, nor shall
                any
                waiver constitute
                a continuing waiver. No waiver shall be binding unless executed in
                writing
                by the
                party making the waiver. Neither the acceptance of any partial or
                delinquent payment by
                the Holder nor the Holder's failure to exercise any of its rights
                or
                remedies on default by
                the Company shall be a waiver by the Holder of any default or the
                Company
                obligations
                under this Note, or a waiver of any subsequent default by the
                Company.

            

    

    

    
      	
            	10.3	
              Timeliness.
                Time is of the essence of this Note and each and all of its
                provisions.

            

    

    

    
      	
            	10.4	
              Notices.
                Notices
                given under this Note shall be in writing and shall be delivered
                personally, by messenger, by certified U.S. mail, return receipt
                requested, or by a common
                overnight carrier delivery service. Notices
                shall be deemed received upon receipt
                of same. Notices to the Company shall be addressed to 2999 NE
                191st
                Street, Penthouse
                2, Aventura, Florida 33180. Notices to the Holder shall be directed
                to
                Holder at
                the Holder's address of record on the Company's books. A party may
                change
                its address
                for notice by giving written notice to the other party in accordance
                with
                this Section.

            

    

    

    
      	
            	10.5	
              Governing
                Law and Venue. This Note shall be construed in accordance with, and
                governed
                by, the laws of the State of New York, and any action or proceeding,
                including arbitration,
                brought by any party in which this Note is a subject shall be brought
                in
                New York.

            

    

    

    
      	
            	10.6	
              Effect
                of Headings. The headings of the sections of this Note are included
                for
                purposes of
                convenience only, and shall not affect the construction or interpretation
                of any of its provisions.

            

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    

    
      	
            	10.7	
              Invalidity.
                Any provision of this Note which is invalid, void, or illegal, shall
                not
                affect, impair,
                or invalidate any other provision of this Note, and such other provisions
                of this Note
                shall remain in full force and
                effect.

            

    

    

    
      	
            	10.8	
              Professional
                Fees and Costs. If any legal or equitable action, arbitration, or
                other
                proceeding,
                whether on the merits or on motion, are brought or undertaken, or
                an
                attorney is
                retained to enforce this Note, or because of an alleged dispute,
                breach,
                default, or misrepresentation
                in connection with any
                of the provisions of this Note, then the successful
                or prevailing party or parties in such undertaking (or the party
                that
                would prevail
                if an action were brought) shall be entitled to recover reasonable
                attorney's fees and
                other professional fees and other costs incurred in such action,
                proceeding or discussions,
                in addition
                to any other relief to which such party would be entitled.. The
                parties
                intend this provision be given the most liberal constructionn possible
                and
                to apply to
                any circumstances in which such party reasonably incurs
                expenses.

            

    

    

      

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      'A'

     

    CONVERSION
      NOTICE

     

    
      	TO:	
              Global
                IT Holdings, Inc. 

              535
                5th Avenue,
                Suite 1004 

              New
                York, NY 10017

              Attn:
                Corporate
                Secretary

            

    

     

    The
      undersigned owner of this 6.5% Convertible Note due December 31, 2004 (the
      "Note") issued by Global IT Holdings, Inc. (the "Company") hereby
      irrevocably exercises its option to convert
      $________ Principal
      Amount of the Note into shares of Common Stock in accordance with the
terms
      of
      the Note. The undersigned hereby instructs the Company to convert the portion
      of
      the Note specified
      above into _____________ shares
      of
      Common Stock Issued at Conversion in accordance with the
      provisions of Article 3 of the Note. Attached hereto is the undersigned's
      calculation for the Conversion Price.
      The
      undersigned directs that the Common Stock and certificates therefore deliverable
      upon conversion,
      the Note reissued in the Principal Amount not being surrendered for conversion
      hereby, together with any check in payment for fractional Common Stock, be
      registered in the name of and/or delivered
      to the undersigned unless a different name has been indicated below. All
      capitalized terms used and
      not
      defined herein have the respective meanings assigned to them in the Note.
The
      conversion pursuant
      hereto shall be deemed to have been effected at the date and time specified
      below, and at such time
      the
      rights of the undersigned as a Holder of the Principal Amount of the Note set
      forth above shall cease
      and
      the Person or Persons in whose name or names the Common Stock Issued at
      Conversion shall be registered
      shall be deemed to have become the holder or holders of record of the Common
      Shares represented
      thereby and all voting and other rights associated with the beneficial ownership
      of such Common
      Shares shall at such time vest with such Person or Persons.

    

    Date
      and
      time:

     

        ___________________________

     Signature

    

    Fill
      in
      for registration of Note:

    

    Please
      print name and address 

    (including
      ZIP code number):

     

    ___________________________

    ___________________________

    ___________________________

     

    
      
        
        

      

      
        6Unassociated Document

    THIS
      NOTE AND THE STOCK INTO WHICH IT IS CONVERTIBLE HAVE NOT BEEN
REGISTERED
      UNDER
      THE
      SECURITIES ACT OF 1933, AS AMENDED, OF THE UNITED STATES
      OF
      AMERICA (THE "ACT") OR THE SECURITIES LAWS OF ANY STATE OF THEUNITED
      STATES ("STATE ACT"). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT AND
      NOT
      WITH A VIEW TO, OR IN CONNECTION WITH, THESALE
      OF
      DISTRIBUTION THEREOF,
      AND
      MAY
      NOT BE
      OFFERED,
      SOLD, PLEDGED, HYPOTHECATED,
      OR OTHERWISE
      TRANSFERRED
      FOR VALUE, DIRECTLY OR
      INDIRECTLY,
      IN THE ABSENCE
      OF AN EFFECTIVE REGISTRATION
      STATEMENT UNDER THE ACT AND COMPLIANCE
      WITH APPLICABLE STATE ACTS, OR PURSUANT TO AN EXAMPTION FROM
      REGISTRAITON UNDER
      THE
      ACT AND
      UNDER
      APPLICABLE STATE ACTS, THE
      AVAILABILITY
      OF WHICH ARE ESTABLISHED BY MEANS OF AN OPINION TO SUCH EFFECT
      IN
      FORM AND SUBSTANCE
      SATISFACTORY
      TO THE COMPANY AND RENDERED
      BY
      LEGAL
      COUNSEL SATISFACTORY TO THE COMPANY.

     

    Global
      IT Staffing Group, Inc.

     

    SERIES
      A 10% CONVERTIBLE PROMISSORY NOTE

     

    
      	$25,000.00	 	
              New York 

              November 23,
                2004

            

    

     

    
      	
              1.

            	
              Promise
                to Pay. FOR VALUE RECEIVED, Global IT
                Staffing Group, Inc., a Nevada corporation (the
                "Company") promises to pay, in lawful money of the United States
                of
                America, to the order of
                AdvantageFund
                I, L.L.C.,
                or
                assignee (the "Holder"), at Aventura, Florida or at such other
                place
                as Holder shall from time to time direct, on or before June 24, 2006,
                the
                principal amount of Twenty
                Five Thousand Dollars and no cents ($25,000,00) plus interest on
                the
                unpaid principal balance
                thereof at a rate of Ten percent (10%) per year from the date hereof
                until
                paid in full. Interest
                on this note shall be computed on a 365365 simple interest basis,
                that is,
                by applying the ratio
                of the annual interest rate by the number of days in the year times,
                outstanding principal balance
                times the actual number of days that the principal balance is outstanding.
                This Note shall be
                payable interest-only, in arrears, on the last day of each calendar
                months, commencing upon the first
                such date subsequent to the date of execution hereof, and due and
                payable
                in fall, principal and interest, twenty-four months from the date
                hereof.
                At the option of the Holder, the interest payable
                may be paid in cash or convertible into common stock in accordance
                with
                Section 3. Conversion.
                All payments shall be applied first to accrued, unpaid interest,
                next to
                any collection costs,
                and the remainder against principal. This note may be not be redeemed
                by
                the Company prior to its due date without the express permission
                of the
                Holder, This Note is one of a series of identical
                notes, except to principal amount and due date (collectively, the
                "Notes").

            
	 	 
	
              2.

            	Default. The Company shall be in default
              under this Note upon the occurrence of any of the following
              events:

    

     
      

    
      	 	
              2.1

            	
              The
                Company fails to timely perform any of its obligations under, or
                otherwise
                breaches any
                covenants or warranties of this
                Note;

            

    

    
      	 	
              2.2

            	
              Any
                statement, representation, or warranty made by the Company or its
                agents
                to Holder shall
                prove to have been false or materially misleading when made;
                and/or,

            

      	 	2.3	
              The Company shall become insolvent,
                or
                unable to meet its obligations as they become due,
                or shall file or have filed against it, voluntarily or involuntarily,
                a
                petition under the United
                States Bankruptcy Code or shall procure or suffer the appointment
                of
                a
                receiver for
                any substantial portion of its properties, or shall make an assignment
                for
                benefit of creditors,
                or shall initiate or have initiated against it, voluntarily or
                involuntarily, any act, process, or proceedings under any insolvency
                law
                or other statute or law providing for the modifications
                or adjustment of the rights of
                creditors.

            

    

     

    Upon
      any
      event of default, Holder may declare the entire unpaid principal balance of
      this
Note
      and
      all accrued unpaid interest immediately due, without notice, and the Company
      agrees to pay such amount immediately in such event. In the event of default,
      the Company agrees
      to
      pay all of Holder's
      costs of collection,
      including attorney's fees;
      this shall include legal
      expenses for the bankruptcy proceedings or insolvency proceedings (including
      efforts to
      modify
      or vacate any automatic stay or injunction), court costs, appeals,
      post-judgement collection
      expenses and any other amount provided by law. The parties intend this provision
      to
      be
      given the most liberal construction possible and to apply to any circumstances
      in which such
      party reasonably incurs expenses. No delay or omission on the part of any Holder
      hereof
      in
      exercising any right or option herein given to such Holder shall impair such
      right or
      option
      or be considered as a waiver
      thereof or
      acquiescence in
      any
      default hereunder. The
      Company hereby waives any applicable statue of limitations, presentment, demand
      for payment,
      protest and
      notice of dishonor.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    3.
      Conversion.
      The Holder shall have conversion rights as follows (the "Conversion
      Rights"):

     

    
      
        	 	
                3.1

              	
                Right
                  to Convert. Subject to subsection 3.3, this Note shall be convertible,
                  in
                  whole or in part,
                  at the option of the Holder, at any time after the date of issuance
                  of
                  this Note, and from
                  time to time thereafter, at the office of the Company, into such
                  number of
                  fully paid and
                  non-assessable shares of Common Stock of the Company as
                  is
                  determined as follows:

              

      

      
      

       

      The
        Conversion Price per share shall be equal to the
        lesser of (1) the average of the
        lowest of three day trading prices during the twenty trading days immediately
        prior to the Conversion Date multiplied by .75, or (2) the average of
        the
        lowest of three day trading prices during the twenty trading days immediately
        prior to the funding date(s) multiplied by .75.

       

      
        	 	3.2	
                Mechanics
                  of Conversion. Before Holder shall be entitled to convert this
                  Note, in
                  whole or
                  in part, into shares of Common Stock, he shall surrender this Note
                  at the
                  office of the Company,
                  and shall give written notice in person, or by facsimile, mail,
                  postage
                  prepaid, to
                  the Company at its principal corporate office, of Holder's election
                  to
                  convert the Note and
                  shall state therein the portion of the principal amount of the
                  Note to be
                  converted and the
                  name or names in which the certificate or certificates for shares
                  of
                  Common Stock are to
                  be issued, the address of such persons to beused
                  for record purposes, and the address(s)
                  to which the certificate(s) should
                  be delivered if different from the record address.
                  Such notice shalt be on the form attached to this Note as Exhibit
                  'A'.
                  The Company
                  shall as soon as practicable thereafter, issue and deliver to Holder,
                  or
                  to the nominee or nominees of Holder, a certificate or certificates
                  for
                  the number of shares of Common Stock to which Holder shall be entitled
                  as
                  aforesaid and, if less than the full principal amount of the note
                  is
                  converted, a new Note representing the uncoverted balance
                  which remains outstanding. Any interest accrued but unpaid on the
                  converted portion
                  of the Note shall be paid upon conversion; any interest accrued
                  but unpaid
                  on the non-converted
                  portion of the Note shall be paid in due course under the replacement
                  Note.
                  Such conversion shall be deemed to have been made immediately prior
                  to the
                  close of
                  business on the date of such surrender of the Note to be converted,
                  and
                  the person or persons entitled to receive the shares of Common
                  Stock
                  issuable upon such conversion shall
                  be treated for all purposes as the record holder or holders of
                  such shares
                  of Common Stock
                  as of such date.

              

      

       

      
        	 	
                3.3

              	
                Voting
                  Rights. If
                  at any time or from time to time there occurs matters that require
                  a
                  vote
                  by the shareholders of the Company, the Holder shall have the right
                  to
                  cast votes equal
                  to
                  thenumber
                  of shares then convertible as of the date of the vote
                  required.

              

        	 	 	 

        	 	3.4	
                No Impairment. The Company
                  will not, by
                  amendment of its Articles of Incorporation or
                  through any reorganization, recapitalization, transfer of assets,
                  consolidation, merger, dissolution,
                  issue or sale of securities or any other voluntary action, avoid
                  or seek
                  to avoid
                  the observance or performance of any of the terms to be observed
                  or
                  performed hereunder
                  by the Company, but will at all times in good faith assist in the
                  carrying
                  out of all
                  the provisions of this Section 3 and in
                  thetaking
                  of all such action as may be necessary
                  or appropriate in order to protect the Conversion Rights of the
                  Holder
                  against impairment

              

        	 	 	 

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        	 	3.5	
                No Fractional Shares and Certificates
                  as
                  to Conversion. No fractional shares shall be issued
                  upon conversion of the Note, and the number of shares of Common
                  Stock to
                  be issued
                  shall be rounded to the nearest whole
                  share.

              

        	 	 	 

        	 	3.6	
                Notices
                  of Record Date. In the event of any taking by the Company of a
                  record of
                  the holders
                  of any class of securities for the purpose of determining the holders
                  thereof who are
                  entitled to receive any dividend or other distribution, any right
                  to
                  subscribe for, purchase
                  or otherwise acquire any shares of stock of any class or any other
                  securities or property,
                  or to receive any other right, the Company shall mail to Holder,
                  at least
                  20 days prior
                  to the date specified therein, a notice specifying the date on
                  which any
                  such record is
                  to be taken for the purpose of such dividend, distribution, or
                  right, and
                  the amount and character
                  of such dividend, distribution, or right. In the case of rights
                  to acquire
                  any shares
                  of stock or any other class of securities or property, Company
                  shall grant
                  to Holder the same rights as if the Holder had converted his Note
                  upon the
                  Record Date.

              

        	 	 	 

        	 	3.7	
                Reservation
                  of Stock Issuable Upon Conversion. The
                  Company shall at all titres reserve
                  and keep available out of its authorized but unissued shares of
                  Common
                  Stock solely for the purpose of effecting the conversion of the
                  Notes such
                  number of shares of Common
                  Stock as shall from time to time be sufficient to effect the conversion
                  of
                  all outstanding
                  Notes; and if at any time the number of authorized but unissued
                  shares of
                  Common
                  Stock shall not be sufficient to effect the conversion of all
                  then-outstanding Notes,
                  in addition to such other remedies as shall be available to the
                  Holder,
                  the Company
                  will take such corporate action as may, in the opinion of its counsel,
                  be
                  necessary
                  to increase its authorized but unissued shares of Common Stock
                  to such
                  number
                  of shares as shall be sufficient for such
                  purposes.

              

        	 	 	 

        	 	3.8	
                Notices.
                  Any
                  notice required by the provisions of this Section 3 to be given
                  to the
                  Holder
                  shall be deemed given if deposited in the United States mail, postage
                  prepaid and certified,
                  return receipt requested and addressed to Holder of record at his
                  address
                  appearing
                  on the books of the Company.

              

        	 	 	 

      

      4.   
        Redemption.
        The Company, may not redeem this Note at any time prior to the maturity
        date.

    

    

    5.   
      Assignment.
      Subject to the restrictions on transfer herein, the Holder may transfer this
      Note in whole
      or
      in part, in the event of partial transfer(s), the Company will exchange this
      Note for new Notes
      as
      instructed by the Holder equal to the total of this Note, by endorsement (by
      the
      Holder of this
      Note
      executing the form of assignment attached to this Note as Exhibit `B')
      and
      delivery in the
      same
      manner as any negotiable instrument transferable by endorsement and delivery.
      Until this Note is transferred on the Company books, the Company may treat
      the
      registered Holder of this
      Note
      as the absolute owner of this Note for all purposes, despite any notice to
      the
      contrary. The
      Company's obligations hereunder may not be transferred without prior written
      consent of the Holder;
      any attempt to transfer without consent shall be void ab
      initio.

    

    6.   
      Restrictions
      on Transfer. This Note and the stock into which it is convertible have not
      been
      registered under the Securities act of 1933, as amended, of the United States
      of
      America (the "Act") or the securities laws of any sate of the United States
      ("State Act"). This Note and the stock
      into which it is convertible have been acquired for investment and not with
      a
      view to, or in connection
      with, the sale or distribution thereof, and may not be offered, sold, pledged,
      hypothecated. Or otherwise transferred for value directly or indirectly, in
      the
      absence of an effective registration statement under the Act and compliance
      with
      applicable State Acts, or pursuant
      to an exemption from registration under the Act and under applicable State
      Acts,
      the availability
      of which are established by means of an opinion to such effect. 
      In
      form and
      substance satisfactory
      to the Company and rendered by legal counsel satisfactory to the Company. The
      certificates
      representing the shares into which this Note is convertible shall bear the
      foregoing legend.

    

    7.   
      Registration
      of Underlying Stock & Penalties. The Company agrees that within thirty days
      of the date of this Note, the Company shall file a registration statement with
      the Securities and Exchange Commission
      on form SB-2 or other applicable form to register 250% of the then shares to
      be
issued
      upon conversion of the Notes. A copy of this Registration Statement is attached
      hereto as

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    Exhibit
      'C'.
      The
      registrations statement shall call for, amongst other items more fully described
      therein, the Company to use its best efforts to have such registration statement
      declared effective at
      the
      earliest possible time. Should such registration statement not be deemed
      effective within ninety days from the date of its initial filing, the Company
      shall pay a penalty to the Holder in an amount
      equal to 2% of the principal balance and any and all accrued interest then
      outstanding per month
      or
      any part thereof, until such time as the registration statement is declared
      effective. Company agrees to keep such registration statement effective until
      the maturity of the Note. Should
      there come a time when the number of shares that have been registered is less
      than 200% of
      the
      total number of shares to be issued upon conversion, the Company agrees that
      it
      will amend such
      registration statement such that a minimum of 200% of the shares to be issued
      upon conversion
      are on such registration statement.

    
       

      
        	 	7.1	
                No additional
                  issuance with Registration Rights. Company agrees that without
                  the
                  written
                  consent of the Holder, it shall not issue common shares or securities
                  that
                  are convertible
                  into common shares that have piggyback or demand registration rights
                  while
                  the
                  Note is still
                  outstanding.

              

      

    

    

    8.   
      Replacement.
      On receipt of evidence reasonably satisfactory to the Company of the loss,
      theft, destruction
      or mutilation of this Note and, in the event of such occurrence, on delivery
      of
      an indemnity
      agreement or bond reasonably satisfactory in form and amount to the Company
      or,
      in the
      case
      of mutilation, on surrender and cancellation of this Note, the Company at its
      expense will execute
      and deliver, in lieu of this Note, a new Note of like tenor. On surrender of
      this Note for exchange
      and subject to the provisions of this Note on compliance with the Securities
      Act, the Company,
      at its expense will issue to or on the order of the Holder of this Note a new
      Note or Notes
      of
      like tenor, in the name of that Holder or as that Holder (on payment by the
      Holder of any applicable
      transfer taxes) may direct, in the same total principal amount as this
      Note.

    

    9.   
      Appointment
      of Agent. The Company may, on written notice to the Holder of this Note, appoint
      an agent for the purposes of issuing Common Stock or other securities on the
      conversion of this Note
      and
      of replacing or exchanging this Note; and after that appointment occurs any
      such
issuance,
      replacement, or exchange shall be made at that office by that
      agent.

     

    10.   
      Miscellaneous.

    
      
         

        
          	 	10.1	Amendment. No supplement,modification,
                  or amendment of this Note shall be binding unless executed in writing
                  by
                  all the parties
                  hereto.

        

      

    

    
      
        
           

          
            	 	10.2	
                    Waiver. No
                      waiver of any of the provisions of this Note shall be deemed,
                      or shall
                      constitute,
                      a waiver of any other provision, whether or not similar, nor
                      shall any
                      waiver constitute
                      a continuing waiver. No waiver shall be binding unless executed
                      in writing
                      by the
                      party making the waiver. Neither the acceptance of any partial
                      or
                      delinquent payment by
                      the Holder nor the Holder's failure to exercise any of its
                      rights or
                      remedies on default by
                      the Company shall be a waiver by the Holder of any default
                      or the Company
                      obligations
                      under this Note, or a waiver of any subsequent default by the
                      Company.

                  

          

        

      

      
        
          
             

            
              	 	10.3	
                      Timeliness. Time is of
                        the essence of this
                        Note and each and all of its
                        provisions.

                    

            

          

        

        
          
            
               

              
                	 	10.4	
                        Notices. Notices
                          given under this Note shall be in writing and shall be
                          delivered
                          personally,
                          by messenger, by certified U.S. mail, return receipt requested,
                          or by a
                          common
                          overnight carrier delivery service. Notices shall be deemed
                          received upon
                          receipt of same. Notices to the Company shall be addressed
                          to 40 West
                          37th Street, Suite 505,
                          New York, NY 10018. Notices to the Holder shall be directed
                          to Holder at
                          the Holder's
                          address of record on the Company's books. A party may change
                          its address
                          for notice
                          by giving written notice to the other party in accordance
                          with this
                          Section.

                      

              

            

          

          
            
              
                 

                
                  	 	10.5	
                          Governing Law and
                            Venue. This Note shall
                            be construed in accordance with, and governed by, the
                            laws of the State of
                            Florida, and any action or proceeding, including arbitration,
                            brought by any party in which this Note is a subject
                            shall be brought in
                            Florida

                        

                

              

            

            
              
                
                   

                  
                    
                      
                      

                    

                    
                      4

                      
                        

                      

                    

                    
                      
                      

                    

                  

                   

                  
                    	 	10.6	Effect of Headings. The headings of
                            the sections of this
                            Note are included for purposes of convenience only, and
                            shall not affect
                            the construction or interpretation of any of its provisions.

                  

                

              

            

          

        

      

    

     
      
        	 	10.7	
                Invalidity. Any provision of
                  this Note
                  which is invalid, void, or illegal, shall not affect, impair,
                  or invalidate any other provision of this Note, and such other
                  provisions
                  of this Note
                  shall remain in full force and effect.

                 

              

        
          	 	10.8	
                  Professional Fees and Costs.
If
                    any legal or equitable action, arbitration, or other proceeding,
                    whether on the merits or on motion, are brought or undertaken,
                    or an
                    attorney is
                    retained to enforce this Note, or because of an alleged dispute,
                    breach,
                    default, or misrepresentation in connection with any of the provisions
                    of
                    this Note, then the successful or prevailing party or parties
                    in such
                    undertaking (or the party that would prevail
                    if an action were brought) shall be entitled to recover reasonable
                    attorney's fees and other professional fees and other costs incurred
                    in
                    such action, proceeding or discussions, in addition to any other
                    relief to
                    which such party would be entitled. The parties
                    intend this provision be given the most liberal construction
                    possible and
                    to apply to
                    any circumstances in which such party reasonably incurs
                    expenses.

                

        

         

        
          	 	 	Global
                  IT Staffing
                  Group, Inc.
	 	 	 
	 	 
	 	By:  	 
	 	
                  
Lloyd
                  Glick
	 	Chief
                  Executive Officer

        

         

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

      

    

     

    EXHIBIT
      'A'

     

    CONVERSION
      NOTICE

    

     

    
      	TO:	
              Global IT Staffing Group, Inc. 

              40
                W. 37th Street,
                Suite 505 

              New
                York, NY 10018

              Attn:
                Corporate
                Secretary

            

    

     

    The
      undersigned owner of this 10% Convertible Note due June 24, 2006 (the "Note")
      issued
      by
      Global IT Staffing Group, Inc. (the "Company") hereby irrevocably exercises
      its
      option to convert $________ Principal
      Amount of the Note into shares of Common Stock in accordance with the
terms
      of
      the Note. The undersigned hereby instructs the Company to convert the portion
      of
      the Note specified
      above into ________ shares
      of
      Common Stock Issued at Conversion in accordance with the
      provisions of Article 3 of the Note. Attached hereto is the undersigned's
      calculation for the Conversion Price.
      The
      undersigned directs that the Common Stock and certificates therefore deliverable
      upon conversion, the Note reissued in the Principal Amount not being surrendered
      for conversion hereby, together
      with any check in
      payment
      for fractional Common Stock, be registered in the name of and/or delivered
      to the undersigned unless a different name has been indicated below. All
      capitalized terms used and
      not
      defined herein have the respective meanings assigned to them in the Note. The
      conversion pursuant
      hereto shall be deemed to have been effected at the date and time specified
      below, and at such time the rights of the undersigned as a Holder of the
      Principal Amount of the Note set forth above shall cease
      and
      the Person or Persons in whose name or names the Common Stock Issued at
      Conversion shall be registered
      shall be deemed to have become the holder or holders of record of the Common
      Shares represented
      thereby and all voting and other rights associated with the beneficial ownership
      of such Common
      Shares shall at such time vest with such Person or Persons.

    

    Date
      and
      time:

     

    
      	 	 	 
	 	______________________________
	 	Signature

    

    

    Fill
      in
      for registration of Note:

     

    Please
      print name and address 

    (including
      ZIP code number):

     

    ___________________________

    ___________________________
___________________________

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      'B'

     

    ASSIGNMENT
      FORM

    

     

    
      	
              TO:

            	
              Global IT Staffing Group Inc. 

              40
                W. 37th Street, Suite 505 

              New
                York, NY 10018

              Attn: Corporate
                Secretary

            

    

     

    The
      undersigned
      owner of this 10% Convertible Note due June 24, 2006 (the "Note") issued by
      Global IT Staffing
      Group, Inc. (the "Company") hereby irrevocably assigns its rights, title and
      ownership in $________ of
      the
      Note, inclusive of all principal and pro-rata interest, to the party more fully
      described
      below in accordance with Section 5 of the Note, Accordingly, the undersigned
      directs that, if the Assignment
      is for less than the outstanding principal amount of the Note that it be
      reissued in the
      Principal
      Amount
      not being surrendered for assignment hereby, to the undersigned with the amount
      being assigned reissued
      for the amount being assigned hereunder to the name that has been indicated
      below. All capitalized
      terms used and not defined herein have the respective meanings assigned to
      them
      in the Note. The
      Assignment pursuant hereto shall be deemed to have been effected at the date
      and
      time specified below, and at such time the rights of the undersigned as a Holder
      of the principal Amount of the Note amount
      herein assigned, set forth above shall cease and the Person or Persons indicated
      below shall be deemed
      to
      have become the holder or holders of record of any or all of the Note assigned
      herein and shall have
      all
      voting and other rights associated with the beneficial ownership of the Note
      and
      shall at such time vest
      with
      such Person or Persons.

     

    Date
      and
      time:

    
       

      
        	 	 	 
	 	______________________________
	 	Signature

      

       

    

    Fill
      in
      for registration of Note:

    

    Please
      print name and address 

    (including
      ZIP code number, and 

    social
      security or tax identification 

    number):

     

    
      
        ___________________________

        ___________________________
___________________________
___________________________

      

    

     

    
      
        
        

      

      
        7

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