Document:

Exhibit 10.12

                             SUBSCRIPTION AGREEMENT

      Chiste  Corporation,  a Nevada corporation  ("Company"),  and the investor
specified on the signature page hereto  ("Investor"),  together  hereby agree as
follows:

1.  Subscription  for Securities.  Investor hereby  subscribes for and agrees to
purchase  the  number  of  shares  of  Series  B  Convertible   Preferred  Stock
("Preferred  Stock") of the Company,  as set forth on the signature page hereto,
upon the terms and conditions  described in this Agreement.  The price per-share
of  Preferred  Stock is  $33.086191.  Each  share  of  Preferred  Stock  will be
convertible  into  185.35215  shares of common stock of the Company,  subject to
adjustment,  including the proposed  one-for-25  reverse split, after which each
share of Preferred  Stock will convert into 7.4140860  shares of common stock of
the Company ("Common Stock").

      The Preferred Stock is being offered in a private  placement in accordance
with the terms set forth in this Agreement.  For  information  about the Company
and its reorganization which includes the acquisition of HydroGen,  LLC, an Ohio
limited liability company ("HydroGen"), the Investor is being provided a copy of
a Confidential  Private Placement  Memorandum dated May 13, 2005  ("Memorandum")
prepared by HydroGen,  on which the Investor may rely.  Battenkill  Capital Inc.
("Battenkill")  is acting as exclusive  placement  agent for the offering by the
Company,  and HydroGen has agreed to pay  Battenkill a fee for the investment by
the Investor,  in an amount equal to the fee described in the  Memorandum due in
respect of the units being sold in the HydroGen offering.

      In  connection  with  the  offering  of the  units  by  HydroGen  and as a
condition  to the  consummation  of the  HydroGen  offering,  HydroGen  will  be
acquired by the Company by an exchange  ("Exchange") of the HydroGen  membership
units for shares of the Preferred Stock,  pursuant to an Exchange  Agreement,  a
form of which is included  in the  Memorandum  and a copy of which the  Investor
acknowledges receipt ("Exchange Agreement").

      As a further  condition to the  consummation  of the offering by HydroGen,
after the  Exchange,  there will be an  investment in the Company by one or more
related  institutional  investors  of not less  than  $7,000,000,  of which  the
investment  by the  Investor  is a part,  such that their  aggregate  investment
("Institutional Investment") combined with the minimum amount of the offering by
HydroGen will aggregate not less than  $12,000,000  being invested,  in cash, in
the Company and HydroGen (excluding any membership units sold upon conversion of
HydroGen debt). The investment by the institutional investors will be contingent
on subscriptions  for the minimum  offering amount for the HydroGen  offering of
units as described in the Memorandum  being received in escrow by HydroGen prior
to the Exchange.  The subscriptions in the offering by HydroGen will be governed
by  separate  investment  agreements  which may have  different  terms than this
Agreement.

      Officers and  directors of the Company,  HydroGen and  Battenkill  and any
dealers  selected by  Battenkill  may  purchase  securities  in the  offering by
HydroGen.  Such  securities  will count towards the minimum.  HydroGen also will
permit  holders of 6% Convertible  Promissory  Notes to convert their notes into
securities in the offering, but these will not count towards the minimum.

2. Investor  Delivery of Documents and Payment.  The Investor  hereby tenders to
the  Company  (i)  one  manually  executed  copy  of  this  Agreement  with  the
appropriate  questionnaires  therein  completed,  and  (ii) the  completed  NASD
questionnaire  attached to this Agreement and (iii) the aggregate purchase price
of  $2,443,018.17  for the shares of Preferred Stock being  purchased  hereunder
("Purchase  Price").  The date of the tender of the this Subscription  Agreement
and the Purchase Price shall be referred to as the "Closing." The Closing of the
purchase of the shares of Preferred Stock will be deemed to occur at the offices
of Graubard Miller, 405 Lexington Avenue, New York, New York 10174.

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3. Sale of the Preferred Stock

      3.1. Sale of the Preferred Stock to the Investor.  Subject in all respects
to the satisfaction of the terms and conditions herein set forth and in reliance
upon the  respective  representations  and  warranties  of the parties set forth
herein or in any document  delivered pursuant hereto, the Company agrees to sell
to the Investor the number of shares of Preferred  Stock,  free and clear of all
liens,  at the  Closing  hereof,  as set forth in the  signature  page  attached
hereto.  Subject in all respects to the satisfaction of the terms and conditions
to  the  Closing   herein  set  forth  and  in  reliance  upon  the   respective
representations  and  warranties  of the  parties  set  forth  herein  or in any
document  delivered  pursuant  hereto,  the Investor agrees to purchase from the
Company,  at the  Closing,  the  number of shares of  Preferred  Stock set forth
opposite such Investor's name on the signature page hereto.

      3.2.  Delivery  of the Shares of  Preferred  Stock.  At the  Closing,  the
Company will deliver to the Investor one or more certificates, duly executed and
registered in such Investor's name,  representing shares of Preferred Stock that
the Investor is purchasing  hereunder,  against  payment by such Investor to the
Company, by wire transfer of funds, of the Purchase Price.

      3.3.  Payment.  Payment  for  the  Preferred  Stock  will  be made by wire
transfer to the account of the wholly owned subsidiary of the Company,  HydroGen
LLC, at the following:

                               National City Bank
                                 ABA #041000124
                         For the Account of HydroGen LLC
                                  A/C 657638180

4. Conditions to Issuance

      4.1.  Closing.  The obligation of the Investor to purchase such Investor's
number of shares of Preferred Stock being purchased at the Closing is subject to
the  fulfillment  to the  Investor's  satisfaction  of  each  of  the  following
conditions:

            (a)   Representations   and  Covenants.   The   representations  and
warranties  made by the Company in Section 7 hereof shall be true and correct in
all material  respects,  all covenants,  agreements and conditions  contained in
this  Subscription  Agreement to be  performed  or complied  with by the Company
prior to the Closing  shall have been  performed or complied  with (or waived by
the Investor),  and the Company shall have obtained any approvals,  consents and
qualifications necessary to perform its obligations hereunder.

            (b) Compliance Certificate.  The Company shall have delivered to the
Investor  at the  Closing a  certificate  signed on its behalf by its  President
certifying  that the  conditions  specified  in  Section  4.1  hereof  have been
fulfilled.

            (c) Secretary's Certificate.  At the Closing, the Company shall have
delivered  to the  Investor  copies  of each  of the  following,  in  each  case
certified by the  Secretary of the Company to be in full force and effect on the
date of the Closing.

                  (i) The  articles  of  incorporation  of the Company as of the
Closing  certified by the Secretary of State as of a date not more than five (5)
days prior to the Closing;

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                  (ii) A good standing  certificate  with respect to the Company
certified  by the  Secretary  of State as of a date not more  than ten (10) days
prior to the Closing;

                  (iii) The by-laws of the Company; and

                  (iv)   Resolutions  of  the  Board  and,  as  necessary,   the
shareholders of the Company, the form and substance of which are satisfactory to
the Investor,  authorizing the adoption,  approval,  execution and filing of the
Articles,  and  authorizing  the  execution,  delivery and  performance  of this
Agreement and the related agreements,  and the transactions  contemplated hereby
and thereby,  including  the issuance and sale of the shares of Preferred  Stock
and the  reservation  of  Common  Stock  for  issuance  upon  conversion  of the
Preferred Stock.

            (d) Registration Rights Agreement.  At or prior to the Closing,  the
Company and the Investor  shall have  executed and  delivered  the  Registration
Rights Agreement.

            (e) Sale of Preferred  Stock.  At or prior to the Closing,  HydroGen
shall  have sold  securities  for not less than  $5,000,000  that  convert  into
Preferred Stock at an equivalent  price of not less than $33.086191 per share in
addition  to the shares to be sold  hereunder,  which  amount will be held in an
escrow account maintained by Battenkill Capital, Inc.

            (f) Legal Opinion.  The Company shall have delivered to the Investor
the opinion of Graubard  Miller,  counsel to the  Company,  with respect to such
matters as the Investor may reasonably  request,  dated the date of the Closing,
in form and substance reasonably satisfactory to the Investor.

            (g) Fees and Expenses.  The Company shall pay an amount equal to 50%
of the  total  fees  and  expenses  of the  Investor's  outside  legal  counsel;
provided,  however,  that the  Company in no event  shall be  required to pay an
amount in excess of $25,000.

            (h)  Legal  Investment.  As of  the  Closing,  the  purchase  of the
Preferred  Stock by the  Investor  shall be  legally  permitted  by all laws and
regulations to which each of the Investor and the Company is subject.

            (i) Qualifications. As of the Closing, all authorizations, approvals
or permits  of, or filings  with any  governmental  authority,  including  state
securities  or "Blue Sky" offices,  that are required by law in connection  with
the lawful sale and issuance of Preferred Stock shall have been duly obtained by
the Company, and shall be effective as of the Closing.

            (j) Proceedings and Documents.  All corporate and other  proceedings
in  connection  with the  transactions  contemplated  hereby and by the  related
agreements,  and all documents and  instruments  incident to such  transactions,
shall be satisfactory in form and substance to the Investor.

5.  Offering to  Accredited  Investors.  The  subscription  represented  by this
Agreement is limited to accredited  investors as defined in Section 2(15) of the
Securities Act of 1933, as amended  ("Securities Act"), and Rule 501 promulgated
thereunder,  and is being made without  registration under the Securities Act in
reliance upon the exemptions contained in Sections 3(b), 4(2) and/or 4(6) of the
Securities  Act and  applicable  state  securities  laws.  As  indicated  by the
responses on the signature page hereof,  the Investor is an accredited  investor
within  the  meaning  of  Section  2(15)  of the  Securities  Act and  Rule  501
promulgated thereunder.

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6. Investor Representations and Warranties.

      6.1. Investor Representations. In order to induce the Company to issue and
sell the Preferred  Stock to the Investor and thereafter  issue to it the Common
Stock upon its  conversion,  it  represents  and warrants  that the  information
relating to it stated herein is true and complete as of the date hereof. If such
information  is  incorrect  or  incomplete,  the  Investor  agrees to notify the
Company and supply the Company promptly with corrective information.

      6.2.  Information  About the Company and  HydroGen.  The Investor has read
this  Agreement,  the Exchange  Act  Documents  (as  hereinafter  defined),  the
Memorandum relating to the HydroGen offering and all exhibits listed therein and
fully  understands  the  Memorandum,  including  the  "Risk  Factors"  contained
therein. The Investor understands the nature of the exchange transaction between
the Company and HydroGen and the  prospective  business of the Company after the
Exchange.  The  Investor  has been given  access to  information  regarding  the
Company and HydroGen and has utilized  such access to its  satisfaction  for the
purpose of making its investment decision,  and the Investor has either met with
or been given  reasonable  opportunity  to meet with officers of the Company for
the purpose of asking reasonable questions of such officers concerning the terms
and  conditions  of the  offering of the  Preferred  Stock and the  business and
operations  of the Company and  HydroGen.  The  Investor  also has been given an
opportunity  to  obtain  any  additional  relevant  information  to  the  extent
reasonably available to the Company and HydroGen.  The Investor has received all
information  and  materials  regarding  the Company and  HydroGen  that has been
reasonably  requested.  After the Investor's  reading of the materials about the
Company and HydroGen, it understands that there is no assurance as to the future
performance of the Company and HydroGen.

      6.3.  Speculative  Investment.  The  Investor is aware that the  Preferred
Stock and Common Stock into which the Preferred Stock is convertible  represents
a speculative investment that involves a high degree of risk including,  but not
limited to, the risk of losses from operations of the Company and the total loss
of the Investor's  investment.  The Investor has the knowledge and experience in
financial  and business  matters as to be capable of  evaluating  the merits and
risks of an investment in the Preferred Stock and Common Stock into which it may
be  converted.  The  Investor  has not  utilized  any  person as the  Investor's
purchaser  representative  (as  defined  in  Regulation  D) in  connection  with
evaluating   such  merits  and  risks  and  has  relied   solely  upon  its  own
investigation  in  making a  decision  to invest in the  Company.  The  Investor
believes that the investment in the Preferred Stock and  subsequently the Common
Stock) is appropriate to the investment  objectives of the Investor and complies
with the limitations of the investment strategies of the Investor.

      6.4.  Restrictions  on  Transfer.  The Investor  understands  that (i) the
Preferred Stock and upon the conversion the Common Stock has not been registered
under the  Securities  Act or the  securities  laws of any state in  reliance on
specific exemptions from registration,  (ii) no securities  administrator of any
state or the federal  government  has  recommended  or endorsed this offering or
made any finding or  determination  relating to the fairness of an investment in
the Company,  and (iii) the Company is relying on the  Investor  representations
and agreements for the purpose of determining whether this transaction meets the
requirements  of  the  exemptions  afforded  by the  Securities  Act  and  state
securities laws.  Other than as set forth herein and in the Registration  Rights
Agreement, the Investor acknowledges that there is no assurance that the Company
will file any registration  statement for the securities  being purchased,  that
such  registration  statement,  if  filed,  will be  declared  effective  or, if
declared effective, that the Company will be able to keep it effective until the
securities registered thereon are sold.

      6.5. Investment  Representation.  The Investor is purchasing the Preferred
Stock and will  subsequently  acquire  the Common  Stock for its own account for
investment  and  not  with a view  to,  or for  sale  in  connection  with,  any
subsequent  distribution  of the securities,  nor with any present  intention of
selling  or  otherwise  disposing  of all or any  part  of the  securities.  The
Investor understands that, although there is a public market for Common Stock of
the Company,  there is no assurance that such market will continue. The Investor
understands  and agrees  that the  Preferred  Stock and Common  Stock  cannot be

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resold, pledged,  assigned or otherwise disposed of unless they are subsequently
registered  under the Securities  Act and under  applicable  securities  laws of
certain  states,  or an  exemption  from such  registration  is  available.  The
Investor  understands  that,  except as set forth herein and in the Registration
Rights Agreement,  the Company is under no obligation to register the securities
or to assist the Investor in complying with any exemption from such registration
under the  Securities  Act or any state  securities  laws.  The Investor  hereby
authorizes  the  Company  to place a legend  denoting  the  restrictions  on the
certificates representing the Preferred Stock and Common Stock.

            6.6. Entity Authority.  The Investor  represents that it is either a
corporation,  partnership,  company,  trust,  employee benefit plan,  individual
retirement  account,  Keogh Plan or other tax-exempt entity, and pursuant to its
constituent  documents it is  authorized  and qualified to become an investor in
the Company,  and the person(s)  signing this Agreement on behalf of such entity
has been duly authorized by such entity to do so.

            6.7. For Florida Residents.  None of the Units,  Preferred Stock and
Common Stock have been registered  under the Securities Act of 1933, as amended,
or the  Florida  Securities  Act, by reason of  specific  exemptions  thereunder
relating to the limited availability of the offering. The Units, Preferred Stock
and Common Stock  cannot be sold,  transferred  or otherwise  disposed of to any
person or entity unless  subsequently  registered  under the  Securities  Act of
1933, as amended,  or the Securities  Act of Florida,  if such  registration  is
required.  Pursuant to Section  517.061(11) of the Florida  Securities Act, when
sales are made to five (5) or more persons in Florida, any sale made pursuant to
Subsection  517.061(11)  of the Florida  Securities Act will be voidable by such
Florida   purchaser   either  within  three  days  after  the  first  tender  of
consideration is made by the purchaser to the issuer, an agent of the issuer, or
an escrow agent, or within three days after the availability of the privilege is
communicated to such purchaser, whichever occurs later. In addition, as required
by  Section   517.061(11)(a)(3),   Florida  Statutes  and  by  Rule  3-500.05(a)
thereunder,  if I am a  Florida  resident  I may  have,  at the  offices  of the
Company,  at  any  reasonable  hour,  after  reasonable  notice,  access  to the
materials set forth in the Rule that the Company can obtain without unreasonable
effort or expense.

7.  Company  Representations.  In order to induce the  Investor to purchase  the
Preferred  Stock,  the  Company  represents  and  warrants to the  Investor  the
representations and warranties set forth in this section.

      7.1.  Organization.  The Company is duly organized and validly existing in
good standing under the laws of the State of Nevada.  The Company has two wholly
owned subsidiaries,  ICON Acquisition Inc., a Delaware corporation ("ICON"), and
HydroGen, each of which is duly organized, validly existing and in good standing
under the laws of its jurisdiction of  organization.  Together ICON and HydroGen
are referred to as the  Subsidiaries.  Each of the Company and its  Subsidiaries
has full power and authority to own,  operate and occupy its  properties  and to
conduct its business as presently  conducted  and as described in the  documents
filed by the Company under the Securities Exchange Act of 1934, as amended,  and
the rules and regulations  promulgated  thereunder (the "Exchange Act"), for the
12 months  prior to the date hereof,  including,  without  limitation,  its most
recent  report for the year ended March 31,  2005 on Form 10-KSB (the  "Exchange
Act  Documents")  and is  registered  or  qualified  to do business  and in good
standing in each  jurisdiction in which the nature of the business  conducted by
it or the  location  of the  properties  owned or  leased  by it  requires  such
qualification  and where the  failure to be so  qualified  would have a material
adverse effect upon the condition (financial or otherwise),  earnings, business,
properties or operations of the Company and its Subsidiaries,  considered as one
enterprise (a "Material Adverse Effect"),  and no proceeding has been instituted
in any such  jurisdiction,  revoking,  limiting  or  curtailing,  or  seeking to
revoke, limit or curtail, such power and authority or qualification.

      7.2. Capitalization.

            (a)  The  authorized  capital  stock  of  the  Company  consists  of
65,000,000  shares of common stock,  par value $0.001 per share ("Common Stock")
and 10,000,000  shares of preferred  stock, par value $0.001 per share, of which
1,500,000  shares  will  be  designated  as  Preferred  Stock  pursuant  to  the
Certificate of  Designations  of Series B Convertible  Preferred  Stock.  At the
close of business on the business day prior to the date  hereof,  (i)  9,396,629
shares of Common  Stock were  issued and  outstanding,  all of which are validly
issued,  fully paid and  non-assessable;  (ii) 953.827 shares of Preferred Stock
were issued and outstanding;  (iii) 8,558,600 shares (pre-split) of Common Stock
were reserved for issuance upon the exercise of outstanding  options to purchase

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Company  Common Stock  granted to certain  employees of Company or other parties
("Company Stock  Options");  (iv) 2,400,000 shares of Common Stock were reserved
for issuance upon the exercise of outstanding  warrants to purchase Common Stock
("Chiste  Warrants");  and (v) no shares  of  Common  Stock  were  reserved  for
issuance  upon any  outstanding  convertible  notes,  debentures  or  securities
("Convertible  Securities").  All shares of Common Stock  subject to issuance as
aforesaid, upon issuance on the terms and conditions specified in the instrument
pursuant to which they are issuable,  will be duly  authorized,  validly issued,
fully paid and  non-assessable.  All outstanding  shares of Common Stock and all
outstanding  Chiste Warrants have been issued and granted in compliance with (i)
all applicable  securities laws and (in all material  respects) other applicable
laws and  regulations,  and (ii) all  requirements  set forth in any  applicable
contracts. The Preferred Stock, subject to the approval of Chiste's stockholders
which in any case shall be required to have  occurred  subsequent to the Closing
("Stockholder  Approval"):  (i) shall be convertible  into  185.35215  shares of
Common  Stock for each share of Preferred  Stock,  subject to  adjustment  for a
proposed  reverse split at the rate of one for 25 shares of Common  Stock,  with
odd lot protection ("Conversion Shares"). Upon the issuance of the shares of the
Preferred Stock, and, subject to the Stockholder Approval, the Conversion Shares
issuable upon conversion  thereof,  when issued,  will be validly issued,  fully
paid and non-assessable.

            (b)  Except  as   contemplated   by  this   Agreement  and  for  the
registration  rights held by  investors  in HydroGen  before the Exchange and as
disclosed  in the  Exchange  Act  Documents  and the  Memorandum,  there  are no
registration  rights,  and  there  is  no  voting  trust,  proxy,  rights  plan,
antitakeover plan or other agreement or understanding to which Chiste, or any of
its  shareholders  known to  Chiste,  is a party  or by  which it is bound  with
respect to any equity security of any class of Chiste.

      7.3. Due Authorization  and Valid Issuance.  The Company has all requisite
power and authority to execute,  deliver and perform its obligations  under this
Agreement   and  the   Registration   Rights   Agreement   (together   "Investor
Agreements"),  and the Investor Agreements have been duly authorized and validly
executed and delivered by the Company and  constitute  legal,  valid and binding
agreements of the Company  enforceable  against the Company in  accordance  with
their terms,  except as rights to indemnity and  contribution  may be limited by
state or federal  securities  laws or the public  policy  underlying  such laws,
except as enforceability  may be limited by applicable  bankruptcy,  insolvency,
reorganization,  moratorium or similar laws affecting creditors' and contracting
parties' rights generally and except as enforceability may be subject to general
principles of equity (regardless of whether such enforceability is considered in
a proceeding in equity or at law), and as they are subject to  interpretation by
courts and governmental  agencies,  arbitration panels or authorities applicable
to the Company or its  Subsidiaries.  The Preferred Stock being purchased by the
Investor  hereunder and the Conversion Shares issuable pursuant to the Preferred
Stock,  upon  issue  pursuant  to the terms  thereof,  will be duly  authorized,
validly issued, fully-paid and non-assessable.

      7.4. Non-Contravention.  The execution and delivery of the Agreements, the
issuance and sale of the Preferred Stock under this Agreement and the Conversion
Shares  pursuant to the Preferred  Stock,  the  fulfillment  of the terms of the
Investor  Agreements  and  the  consummation  of the  transactions  contemplated
thereby will not (A)  conflict  with or  constitute  a violation  of, or default
(with the passage of time or otherwise) under, (i) any material bond, debenture,
note or other evidence of indebtedness,  lease, contract,  indenture,  mortgage,
deed of trust, loan agreement, joint venture or other agreement or instrument to
which  the  Company  or any  Subsidiary  is a party or by which it or any of its
Subsidiaries or their respective properties are bound, (ii) the charter, by-laws
or other organizational documents of the Company or any Subsidiary, or (iii) any
law, administrative regulation,  ordinance or order of any court or governmental
agency,  arbitration  panel  or  authority  applicable  to  the  Company  or any
Subsidiary or their respective properties, except in the case of clauses (i) and
(iii) for any such  conflicts,  violations or defaults  which are not reasonably
likely to have a  Material  Adverse  Effect or (B)  result  in the  creation  or
imposition of any lien,  encumbrance,  claim,  security  interest or restriction
whatsoever  upon any of the material  properties or assets of the Company or any

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Subsidiary  or an  acceleration  of  indebtedness  pursuant  to any  obligation,
agreement or condition  contained in any material bond,  debenture,  note or any
other evidence of  indebtedness  or any material  indenture,  mortgage,  deed of
trust  or any  other  agreement  or  instrument  to  which  the  Company  or any
Subsidiary  is a party or by which  any of them is bound or to which  any of the
material  property or assets of the Company or any Subsidiary is subject.  Other
than and subject to  shareholder  consent  for the  reverse  split of the Common
Stock  and  filings  with the  Securities  and  Exchange  Commission  and  state
securities  authorities and compliance with the requirements in respect thereof,
no  consent,  approval,  authorization  or  other  order  of,  or  registration,
qualification or filing with, any regulatory  body,  administrative  agency,  or
other governmental body in the United States or any other person is required for
the execution and delivery of the Investor  Agreements,  and the valid  issuance
and sale of the Preferred Stock to be sold pursuant to this  Agreement,  and the
valid issuance of the Conversion  Shares under the Preferred  Stock,  other than
such as have been made or obtained.

      7.5.  Authorization of Shares.  The Preferred Stock to be sold pursuant to
this Agreement, and the Conversion Shares to be issued pursuant to the Preferred
Stock,  have been duly  authorized,  and when issued and paid for in  accordance
with the terms of this  Agreement and the terms of the Preferred  Stock,  as the
case may be, will be duly and validly issued, fully paid and non-assessable. The
outstanding  shares of capital  stock of the Company  have been duly and validly
issued and are fully paid and  non-assessable,  have been  issued in  compliance
with all federal and state  securities laws, and were not issued in violation of
any preemptive rights or similar rights to subscribe for or purchase securities.
Except  as set  forth in or  contemplated  by the  Exchange  Act  Documents  and
Schedule  1.1  to the  Exchange  Agreement,  there  are  no  outstanding  rights
(including,  without  limitation,  preemptive  rights),  warrants  or options to
acquire,  or instruments  convertible  into or  exchangeable  for, any un-issued
shares  of  capital  stock  or  other  equity  interest  in the  Company  or any
Subsidiary, or any contract, commitment, agreement, understanding or arrangement
of any  kind to  which  the  Company  is a party or of  which  the  Company  has
knowledge  and  relating to the  issuance  or sale of any  capital  stock of the
Company or any Subsidiary,  any such  convertible or exchangeable  securities or
any such  rights,  warrants or  options.  Without  limiting  the  foregoing,  no
preemptive right, co-sale right, right of first refusal,  registration right, or
other similar  right exists with respect to the Preferred  Stock or the issuance
and sale thereof.

      7.6.  Ownership  of  Subsidiaries.  The  Company  owns the  entire  equity
interest in each of its  Subsidiaries  as of the Closing,  free and clear of any
pledge,  lien, security interest,  encumbrance,  claim,  assessment or equitable
interest,  other  than  as  described  in the  Exchange  Act  Documents  and the
Memorandum.  Except as disclosed in the Exchange Act  Documents,  the Memorandum
and this Agreement about various  subscription  agreements and voting agreements
with the former members of HydroGen and Keating Reverse Merger Fund, LLC ("KRM")
, there are no  stockholders  agreements,  voting  agreements  or other  similar
agreements  with respect to the Common Stock to which the Company is a party or,
to  the  knowledge  of the  Company,  between  or  among  any  of the  Company's
stockholders.

      7.7.  Legal  Proceedings.  There  is no  material  legal  or  governmental
proceeding pending or, to the knowledge of the Company,  threatened to which the
Company  or any  Subsidiary  is or may be a party or of which  the  business  or
property of the Company or any  Subsidiary  is subject that is not  disclosed in
the Exchange Act Documents and the Memorandum. There are no disagreements of any
kind  presently  existing,  or reasonably  anticipated  by the Company to arise,
between the  accountants  and  lawyers  formerly  or  presently  employed by the
Company or its Subsidiaries and the Company and its Subsidiaries is current with
respect to any fees owed to its accountants and lawyers.

      7.8. No Violations. Neither the Company nor any Subsidiary is in violation
of its charter, bylaws, or other organizational document, or in violation of any
law, administrative regulation,  ordinance or order of any court or governmental
agency,  arbitration  panel  or  authority  applicable  to  the  Company  or any
Subsidiary,  which  violation,  individually  or  in  the  aggregate,  would  be
reasonably likely to have a Material Adverse Effect, or is in default (and there
exists  no  condition  which,  with  the  passage  of time or  otherwise,  would
constitute a default) in any material  respect in the  performance  of any bond,
debenture,  note  or any  other  evidence  of  indebtedness  in  any  indenture,
mortgage,  deed of trust or any other material  agreement or instrument to which
the  Company  or any  Subsidiary  is a party  or by  which  the  Company  or any
Subsidiary is bound or by which the  properties of the Company or any Subsidiary
are bound, which would be reasonably likely to have a Material Adverse Effect.

                                       7
<PAGE>

      7.9.  Governmental  Permits,  Etc. With the exception of the matters which
are dealt with separately in Sections 7.1, 7.2, 7.8, 7.10,  7.12, 7.15, 7.20 and
7.23,  each of the Company and its  Subsidiaries  has all necessary  franchises,
licenses, certificates and other authorizations from any foreign, federal, state
or  local  government  or  governmental  agency,  department,  or body  that are
currently  necessary  for the  operation  of the business of the Company and its
Subsidiaries  as  currently  conducted  and as  described  in the  Exchange  Act
Documents  and the  Memorandum,  except where the failure to  currently  possess
could not reasonably be expected to have a Material Adverse Effect.

      7.10.  Intellectual  Property.  Except as  specifically  disclosed  in the
Exchange Act Documents and the Memorandum,  (i) to the Company's knowledge, each
of the Company  and its  Subsidiaries  owns or  possesses  sufficient  rights to
conduct its  business in the ordinary  course,  including,  without  limitation,
rights  to  use  all  material  patents,   patent  rights,  industry  standards,
trademarks,  copyrights,  licenses,  inventions,  trade secrets, trade names and
know-how (collectively, "Intellectual Property") described or referred to in the
Exchange Act  Documents  and the  Memorandum as owned or possessed by it or that
are necessary for the conduct of its business as now conducted or as proposed to
be conducted except where the failure to currently own or possess would not have
a Material Adverse Effect, (ii) to the Company's knowledge,  neither the Company
nor any of its Subsidiaries is infringing, or has received any notice of, or has
any  knowledge  of,  any  asserted  infringement  by the  Company  or any of its
Subsidiaries  of, any rights of a third party with  respect to any  Intellectual
Property that,  individually or in the aggregate,  would have a Material Adverse
Effect,  and (iii) neither the Company nor any of its  Subsidiaries has received
any written notice of, or has any actual  knowledge of,  infringement by a third
party with respect to any Intellectual  Property rights of the Company or of any
Subsidiary that, individually or in the aggregate, would have a Material Adverse
Effect.

      7.11.  Labor Matters.  The Company and its Subsidiaries are not a party to
any collective  bargaining agreement or other labor union contract applicable to
persons  employed by the Company nor does the Company know of any  activities or
proceedings of any labor union to organize any such employees.

      7.12.  Restrictions  on Business  Activities.  Except as  described in the
Exchange Act Documents and the  Memorandum,  there is no agreement,  commitment,
judgment,   injunction,  order  or  decree  binding  upon  the  Company  or  its
Subsidiaries or to which the Company or its Subsidiaries is a party which has or
could  reasonably  be expected to have the effect of  prohibiting  or materially
impairing any business practice of Company and its Subsidiaries, any acquisition
of property by Company or its Subsidiaries or the conduct of business by Company
and  its   Subsidiaries   as  currently   conducted  other  than  such  effects,
individually or in the aggregate, which have not had and could not reasonably be
expected to have a Material Adverse Effect on Company as a whole.

      7.13. Title to Property.

            (a)  All  leases  of  personal  property  held  by  Company  and its
Subsidiaries and all personal  property and other property and assets of Company
and its Subsidiaries  (other than real property) owned,  used or held for use in
connection  with the  business of Company as a whole (the  "Personal  Property")
obligating the Company and its Subsidiaries to make annual payments in excess of
$25,000 are shown or reflected on the  financial  statements  of the Company and
HydroGen  included in the  Exchange  Act  Documents  or the  Memorandum.  To its
knowledge,  the Company and HydroGen own and have good and  marketable  title to
the Personal Property,  and all such assets and properties are in each case held
free and  clear of all  liens,  except  for  liens  disclosed  in the  financial
statements of Company or HydroGen  included in the Exchange Act Documents or the
Memorandum,  none of  which  liens  has or  will  have,  individually  or in the
aggregate,  a Material  Adverse  Effect on such  property  or on the  present or
contemplated use of such property in the businesses of Company as a whole.

                                       8
<PAGE>

            (b)  The  Company,   through  its   subsidiary,   HydroGen,   has  a
month-to-month  lease for the premises at 1801 Route 51 South,  Jefferson Hills,
Pennsylvania, and no other leases for real property. To Company's and HydroGen's
knowledge,  all leases  pursuant to which Company or HydroGen leases from others
material real or personal  property are valid and  effective in accordance  with
their respective terms, and there is not, under any of such leases, any existing
material default or event of default of the Company or HydroGen or, to Company's
or  HydroGen's  knowledge,  any other  party (or any event  which with notice or
lapse of time, or both, would constitute a material  default),  except where the
lack of such  validity  and  effectiveness  or the  existence of such default or
event of default  could not  reasonably  be expected to have a Material  Adverse
Effect on Company as a whole.

      7.14.  Environmental  Matters.  Except as  disclosed  in the  Exchange Act
Documents and the Memorandum and except for such matters that,  individually  or
in the aggregate,  are not reasonably  likely to have a Material Adverse Effect,
to Company's knowledge:  (i) Company and its Subsidiaries have complied with all
applicable  Environmental Laws; (ii) the properties  currently owned or operated
by Company  (including  soils,  groundwater,  surface water,  buildings or other
structures)  are not  contaminated  with any  Hazardous  Substances;  (iii)  the
properties  formerly owned or operated by Company or its  Subsidiaries  were not
contaminated  with  Hazardous  Substances  during  the  period of  ownership  or
operation by Company and its Subsidiaries; (iv) Company and its Subsidiaries are
not subject to liability for any Hazardous  Substance  disposal or contamination
on any third party  property;  (v) Company  and its  Subsidiaries  have not been
associated  with any  release or threat of release of any  Hazardous  Substance;
(vi) Company and its Subsidiaries have not received any notice,  demand, letter,
claim or request for information  alleging that Company and its Subsidiaries may
be in violation of or liable under any Environmental  Law; and (vii) Company and
its  Subsidiaries are not subject to any orders,  decrees,  injunctions or other
arrangements  with any Governmental  Entity or subject to any indemnity or other
agreement with any third party relating to liability under any Environmental Law
or relating to Hazardous Substances.

      As used in this Subscription Agreement, the term "Environmental Law" means
any federal,  state, local or foreign law, regulation,  order,  decree,  permit,
authorization,  opinion,  common law or agency requirement  relating to: (A) the
protection,  investigation or restoration of the environment, health and safety,
or natural  resources;  (B) the handling,  use, presence,  disposal,  release or
threatened  release of any  Hazardous  Substance or (C) noise,  odor,  wetlands,
pollution,  contamination  or any  injury or threat  of  injury  to  persons  or
property.

      As used in this  Subscription  Agreement,  the term "Hazardous  Substance"
means any substance that is: (i) listed, classified or regulated pursuant to any
Environmental Law; (ii) any petroleum product or by-product, asbestos-containing
material,   lead-containing  paint  or  plumbing,   polychlorinated   biphenyls,
radioactive  materials  or  radon;  or (iii) any  other  substance  which is the
subject  of  regulatory  action  by  any  Governmental  Entity  pursuant  to any
Environmental Law.

      7.15. Financial Statements.

            (a) The  financial  statements  of the Company and the related notes
contained in the Exchange Act  Documents  present  fairly,  in  accordance  with
generally accepted accounting principles,  the financial position of the Company
and  its  subsidiaries  as of  the  dates  indicated,  and  the  results  of its
operations and cash flows for the periods therein specified  consistent with the
books and records of the Company and its subsidiaries  except that any unaudited
interim  financial  statements  were or are  subject  to  normal  and  recurring
year-end  adjustments  which are not  expected  to be  material  in amount.  The
financial  statements of HydroGen and related notes  contained in the Memorandum
present fairly, in accordance with generally accepted accounting principles, the
financial  position  of HydroGen  as of the dates  indicated  and the results of
operations and cash flows for the periods therein specified  consistent with the
books and records of HydroGen, except that any unaudited financial statements

                                       9
<PAGE>

were or are subject to normal and recurring year-end adjustments,  which are not
expected  to be  material  in  amount.  The  Company  and  subsidiary  financial
statements  (including the related notes) have been prepared in accordance  with
generally  accepted   accounting   principles  applied  on  a  consistent  basis
throughout  the periods  therein  specified,  except as may be  disclosed in the
notes to such financial statements,  or in the case of unaudited statements,  as
may be permitted by the Securities and Exchange  Commission  (the "SEC") on Form
10-QSB  under the  Exchange  Act and except as  disclosed  in the  Exchange  Act
Documents.  The HydroGen financial statements (including the related notes) have
been  prepared in  accordance  with  generally  accepted  accounting  principles
applied on a consistent basis throughout the periods therein  specified,  except
as may be  disclosed  in the  notes  to such  financial  statements.  The  other
financial information contained in the Exchange Act Documents and Memorandum has
been prepared on a basis consistent with the financial statements of the Company
and HydroGen, respectively.

            (b)  Except  as  set  forth  in  any  Exchange  Act   Documents  and
Memorandum,  there are no  obligations  of the Company or HydroGen to  officers,
directors,  stockholders  or employees of the Company or HydroGen other than (i)
for  payment  of salary  for  services  rendered  and for bonus  payments;  (ii)
reimbursements  for  reasonable  expenses  incurred  on behalf of the Company or
HydroGen; (iii) for other standard employee benefits made generally available to
all employees  (including stock option  agreements  outstanding  under any stock
option  plan  approved  by the  Board of  Directors  of the  Company);  and (iv)
obligations listed in the Company's and HydroGen's financial statements.  Except
as described  above or in any Exchange Act Filings and the  Memorandum,  none of
the  officers,  directors  or,  to the  best  of  the  Company's  or  HydroGen's
knowledge,  key employees or  stockholders  of the Company or of HydroGen or any
members of their  immediate  families,  are indebted to the Company or HydroGen,
individually  or in the  aggregate,  in excess of  $60,000 or have any direct or
indirect ownership interest in any firm or corporation with which the Company or
HydroGen is  affiliated  or with which the  Company or  HydroGen  has a business
relationship,  or any firm or  corporation  which  competes  with the Company or
HydroGen,   other  than  passive   investments  in  publicly  traded   companies
(representing less than one percent (1%) of such company) which may compete with
the Company or HydroGen.  Except as  described  above,  no officer,  director or
stockholder,  or any  member  of  their  immediate  families,  is,  directly  or
indirectly, interested in any material contract with the Company or HydroGen and
no agreements,  understandings or proposed transactions are contemplated between
the Company or HydroGen and any such person. Except as set forth in any Exchange
Act Documents and the  Memorandum,  the Company and HydroGen are not a guarantor
or indemnitor of any indebtedness of any other person, firm or corporation.

      7.16. No Material Adverse Change.  Except as disclosed in the Exchange Act
Documents and the Memorandum, since March 31, 2005 in respect of the Company and
since  December  31,  2004 in  respect of  HydroGen,  there has not been (i) any
material adverse change in the financial condition or earnings of the Company or
its  Subsidiaries,  (ii) any material adverse event affecting the Company or its
Subsidiaries,  (iii) any obligation,  direct or contingent,  that is material to
the Company or its  Subsidiaries,  incurred by the Company or its  subsidiaries,
except  obligations  incurred  in the  ordinary  course  of  business,  (iv) any
dividend or distribution of any kind declared, paid or made on the capital stock
of the Company or any of its Subsidiaries, or (v) any loss or damage (whether or
not insured) to the physical  property of the Company or any of its Subsidiaries
which has been sustained which has a Material Adverse Effect.

      7.17.  Reporting  Status.  The  Company  has filed in a timely  manner all
documents  that the Company was  required to file under the  Exchange Act during
the 12 months  preceding the date of this  Agreement.  The  following  documents
complied  in all  material  respects  with the  SEC's  requirements  as of their
respective  filing dates, and the information  contained  therein as of the date
thereof did not contain an 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  under which they were made not
misleading:

            (a) Annual  Report on Form 10-KSB for the year ended March 31, 2005,
Quarterly Reports on Form 10-QSB for the quarters ended June 30, 2004, September
30, 2004, and December 31, 2004; and

                                       10
<PAGE>

            (b) all other  documents,  if any, filed by the Company with the SEC
during the one-year period preceding the date of this Agreement  pursuant to the
reporting requirements of the Exchange Act.

      7.18. Contracts. The contracts described in the Exchange Act Documents and
Memorandum  that are  material to the Company and its  Subsidiaries  are in full
force and  effect on the date  hereof,  and  neither  the  Company  nor,  to the
Company's  knowledge,  any  other  party to such  contracts  is in  breach of or
default under any of such contracts which would have a Material  Adverse Effect.
The Company has filed with the SEC all contracts and  agreements  required to be
filed by the Exchange Act prior to the date of this Subscription Agreement.

      7.19.  Taxes.  The Company and its  Subsidiaries  have filed all necessary
federal,  state and  foreign  income  and  franchise  tax  returns  when due (or
obtained  appropriate  extensions  for filing) and has paid or accrued all taxes
shown as due thereon, and the Company has no knowledge of a tax deficiency which
has been or might be asserted or threatened  against it or any Subsidiary  which
would have a Material Adverse Effect.

      7.20.  Transfer  Taxes.  On the Closing Date,  all stock transfer or other
taxes (other than income taxes) which are required to be paid in connection with
the  sale  and  transfer  of the  Preferred  Stock  to be sold  to the  Investor
hereunder will be, or will have been, fully paid or provided for by they Company
and all laws imposing such taxes will be or will have been fully  complied with.
Upon  the  issuance  of the  Conversion  Shares  pursuant  to the  terms  of the
Preferred  Stock all stock  transfer  or other taxes  (other than income  taxes)
which are  required  to be paid in  connection  therewith  will be, or will have
been, fully paid or provided for by the Company and all laws imposing such taxes
will be or will have been fully complied with.

      7.21.  Private Offering.  Assuming the correctness of the  representations
and  warranties of the Investor set forth in this  Subscription  Agreement,  the
offer and sale of  Preferred  Stock  hereunder  is, and upon  conversion  of the
Preferred  Stock,  the issuance of the  Conversion  Shares will be,  exempt from
registration  under the Securities Act of 1933, as amended  ("Securities  Act").
The Company and HydroGen have not distributed  and will not distribute  prior to
the Closing any offering material in connection with this Subscription Agreement
and HydroGen  offering  described in the Memorandum  other than the documents of
which this  Subscription  Agreement is a part or the  Exchange Act  Documents or
Memorandum.  Neither the Company nor any person  acting on behalf of the Company
or  HydroGen  has  offered  or sold any of the  Shares  by any  form of  general
solicitation  or general  advertising.  Except for the members of HydroGen,  the
Company has  offered  the  Preferred  Stock for sale only to the  Investors  and
certain other  "accredited  investors"  within the meaning of Rule 501 under the
Securities Act.

      7.22.  Disclosure  Controls  and  Procedures.  The  Company is in material
compliance  with all  provisions  of the  Sarbanes-Oxley  Act of 2002  which are
applicable  to it as of the  Closing  Date.  The  Company  maintains a system of
internal  control  over  financial  reporting  (as such term is  defined  in the
Exchange Act ) sufficient to provide reasonable  assurance that (i) transactions
are executed in accordance with management's general or specific  authorization,
(ii)  transactions are recorded as necessary to permit  preparation of financial
statements in conformity with GAAP and to maintain asset  accountability,  (iii)
access to assets is permitted only in accordance  with  management's  general or
specific  authorization,  and (iv) the  recorded  accountability  for  assets is
compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.  The Company's certifying officers are
responsible for establishing and maintaining  disclosure controls and procedures
(as defined in Exchange  Act) for the  Company and they have (a)  designed  such
disclosure  controls  and  procedures,  or caused such  disclosure  controls and
procedures  to be designed  under  their  supervision,  to ensure that  material
information relating to the Company, is made known to the certifying officers by
others  within  those  entities,  particularly  during the  periods in which the
Exchange Act Documents have been prepared;  (b) evaluated the  effectiveness  of
the Company's disclosure controls and procedures and presented in the applicable
Exchange  Act  Documents  their  conclusions  about  the  effectiveness  of  the
disclosure controls and procedures, as of the end of the periods covered by such
Exchange  Act  Documents  based  on such  evaluation;  and (c)  since  the  last
evaluation date referred to in (b) above, there have been no material changes in
the Company's internal control over financial reporting (as such term is defined
in the Exchange Act) or, to the Company's knowledge, in other factors that could
significantly affect the Company's internal control over financial reporting.

                                       11
<PAGE>

      7.23.  Disclosure.  The  representations  and  warranties  of the  Company
contained in this  Section 7 and the  Memorandum  as of the date hereof,  do 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  under  which they were made,  not  misleading.  The
Company  understands  and  confirms  that  Investor  will rely on the  foregoing
representations in effecting transactions in securities of the Company.

      7.24.  ERISA.  Neither  the  Company  nor any ERISA  Affiliate  maintains,
contributes to or has any liability or contingent  liability with respect to any
employee benefit plan subject to ERISA.

      "ERISA"  means the Employee  Retirement  Income  Security Act of 1974,  as
amended  from  time to  time,  and any  successor  statute,  and all  rules  and
regulations from time to time promulgated thereunder.

      "ERISA  Affiliate"  means any  Person  (including  any trade or  business,
whether or not  incorporated)  that would be deemed to be under "common control"
with,  or a  member  of the same  "controlled  group"  as,  the  Company  or any
Subsidiary,  within the meaning of Sections 414(b),  (c), (m) or (o) of the Code
or Section 4001 of ERISA.

      7.25. Regulated Industries.  Neither the Company nor any Subsidiary is (i)
an "investment  company," a company "controlled" by an "investment  company," or
an "investment  advisor,"  within the meaning of the  Investment  Company Act of
1940,  as  amended,  or (ii) a "holding  company," a  "subsidiary  company" of a
"holding  company," or an "affiliate" of a "holding company" or of a "subsidiary
company"  of a  "holding  company,"  within the  meaning  of the Public  Utility
Holding Company Act of 1935, as amended.

      7.26.  Insurance.  The assets,  properties and business of the Company and
each of its Subsidiaries are insured against such hazards and liabilities, under
such  coverages and in such amounts,  as are  customarily  maintained by prudent
companies similarly situated and under policies issued by insurers of recognized
responsibility.

      7.27. Foreign Assets Control Regulations and Anti-Money Laundering.

            (a)  OFAC.  Neither  the  issuance  of the  Preferred  Stock  to the
Investor,  nor the use of the  respective  proceeds  thereof,  shall  cause  the
Investors to violate the U.S. Bank Secrecy Act, as amended,  and any  applicable
regulations thereunder or any of the sanctions programs administered by the U.S.
Department of the Treasury's  Office of Foreign  Assets Control  ("OFAC") of the
United States Department of Treasury, any regulations  promulgated thereunder by
OFAC or under any  affiliated or successor  governmental  or  quasi-governmental
office,  bureau  or agency  and any  enabling  legislation  or  executive  order
relating  thereto.  Without limiting the foregoing,  neither the Company nor any
Subsidiary  (i) is a person whose  property or interests in property are blocked
or  subject  to  blocking  pursuant  to Section 1 of  Executive  Order  13224 of
September 23, 200l Blocking  Property and Prohibiting  Transactions With Persons
Who  Commit,  Threaten  to Commit,  or Support  Terrorism  (66 Fed.  Reg.  49079
(2001)), (ii) engages in any dealings or transactions prohibited by Section 2 of
such executive  order,  or is otherwise  associated  with any such person in any
manner  violative  of Section  2, or (iii) is a person on the list of  Specially
Designated  Nationals  and  Blocked  Persons or subject  to the  limitations  or
prohibitions under any other OFAC regulation or executive order.

                                       12
<PAGE>

            (b) Patriot  Act.  Each of the Company and each of its  Subsidiaries
are in compliance,  in all material respects, with the Uniting and Strengthening
of America by Providing the Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001. No part of the proceeds of the Preferred  Stock hereunder
will be used,  directly or  indirectly,  for any  payments  to any  governmental
official or employee,  political party, official of a political party, candidate
for political office, or anyone else acting in an official capacity, in order to
obtain, retain or direct business or obtain any improper advantage, in violation
of the United States Foreign Corrupt Practices Act of 1977, as amended.

8. Indemnification.

            (a) The Company  hereby  agrees to indemnify  and hold  harmless the
Investor and any of its officers, directors, stockholders, employees, agents and
attorneys against any and all losses, claims, demand, liabilities,  and expenses
(including  reasonable  legal or other expenses  incurred by each such person in
connection  with  defending  or  investigating  any such claims or  liabilities,
whether or not resulting in any liability to such person or whether  incurred by
the  indemnified  party in any action or proceeding  between the  indemnitor and
indemnified party or between the indemnified party and any third party) to which
any such indemnified party may become subject,  insofar as such losses,  claims,
demands,  liabilities and expenses (a) arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact made by the Company and
contained herein or (b) arise out of or are based upon any breach by the Company
of any representation, warranty or agreement made by them and contained herein.

            (b) The Investor  hereby  agrees to indemnify  and hold harmless the
Company, its officers, directors, stockholders,  employees, agents and attorneys
against  any  and  all  losses,  claims,  demands,   liabilities,  and  expenses
(including  reasonable  legal or other expenses  incurred by each such person in
connection  with  defending  or  investigating  any such claims or  liabilities,
whether or not resulting in any liability to such person or whether  incurred by
the  indemnified  party in any action or proceeding  between the  indemnitor and
indemnified party or between the indemnified party and any third party) to which
any such indemnified party may become subject,  insofar as such losses,  claims,
demands,  liabilities and expenses (a) arise out of or are based upon any untrue
statement or alleged  untrue  statement of a material  fact made by the Investor
and  contained  herein or (b) arise out of or are based  upon any  breach by the
Investor of any  representation,  warranty  or  agreement  made by the  Investor
contained herein.

9. Voting Agreement.

            (a) During the period  commencing on the Closing and  terminating 90
days after the Closing,  the Investor,  in its capacity as a shareholder  of the
Company,  either by  reason of the  Preferred  Stock or  Common  Stock  acquired
hereunder(together the "Voting Shares"), agrees to vote or cause to be voted all
the Voting Shares directly or indirectly owned by the Investor or over which the
Investor has the beneficial ownership or the right to vote at any meeting of the
shareholders  of the  Company,  and in any  action  by  written  consent  of the
shareholders  of the Company,  in favor of a nominee of Keating  Reverse  Merger
Fund,  LLC ("KRM") to the board of directors  of the Company,  if such person is
agreed to and supported by the board of directors of the Company or nominated by
the board of  directors  of the  Company.  If the  nominee  of KRM is removed or
otherwise retires or resigns,  then the Investor will act in accordance with the
above for any replacement nominee of KRM during such 90 day period. The Investor
agrees that the board of  directors  of the Company will consist of five persons
during the term of this  provision  and will not take any action to increase the
number of  directors  from five  persons.  Notwithstanding  the  foregoing,  the
Investor  will have no obligation to vote in favor of any nominee of KRM who has
been convicted of a felony or securities violation in the past five years.

                                       13
<PAGE>

            (b) During the period  commencing on the Closing and  terminating on
the one year  anniversary  of the Closing,  the  Investor,  in its capacity as a
shareholder of the Company,  by reason of the Voting  Shares,  agrees to vote or
cause to be voted all the Voting  Shares  directly  or  indirectly  owned by the
Investor or over which the Investor has the beneficial ownership or the right to
vote and acquired hereunder,  at any meeting of the shareholders of the Company,
and in any action by written consent of the shareholders of the Company,  (a) to
approve a 1 for 25 reverse  stock split of the  outstanding  Common Stock of the
Company,  which  may  include  special  treatment  for  certain  of the  Company
shareholders  to  preserve  round lot  stockholders  ("Reverse  Split"),  (b) to
approve  the  change  of the  corporate  name  from  Chiste  Corporation  to one
recommended  by the board of  directors to reflect the  acquisition  of HydroGen
("Name  Change"),  and (c) all other actions as shall be necessary in connection
with or related to the foregoing.

            (c) The  obligation  of each  Investor  pursuant to paragraph (b) of
this Section 9, will  terminate upon the  consummation  of the Reverse Split and
Name Change,  including  through the time of the filing of the  amendment to the
articles of incorporation of the Company.

            (d) If the Investor or any of its  affiliates or nominee is a member
of the board of directors or an officer of the Company,  nothing in this Section
9 will be deemed to limit or  restrict  the  director  or officer  acting in its
capacity  as a  director  or  officer  of the  Company,  as the case may be, and
exercising  its  fiduciary  duties  and  responsibilities,  it being  agreed and
understood  that  this  Section  9 shall  apply to the  Investor  solely  in its
capacity as a  shareholder  and not to his,  her or its  actions,  judgments  or
decisions as a director or officer of the Company.

10. Covenant Not to Sue and Release.

            (a) From and after the Closing,  the Investor  agrees,  on behalf of
itself and its officers and directors  that none of the Investor or its officers
and  directors  will assert,  or assist in the assertion of, any claim or action
before   any   federal,   state,   local  or  foreign   judicial,   arbitration,
administrative,  executive or other type of body or tribunal against the persons
serving  immediately  prior to the  Exchange as officers  and  directors  of the
Company,  and their heirs, that is based in whole or in part on their actions as
an  officer  or  director  of the  Company  in  connection  with the sale of the
Preferred Stock, unless such claim or action is based on the gross negligence or
commission of fraud.  The grants of immunity set forth in this section:  (i) are
irrevocable  and (ii) shall  survive  indefinitely,  and (c) are  binding on all
successors and assigns of the Investor.

            (b) The Investor  hereby agrees to  unconditionally  and irrevocably
release,  exonerate,  acquit and discharge  the persons  serving as officers and
directors  of the Company in such  positions  immediately  prior to the Exchange
(collectively,  "Company Persons"),  from any and all actions, causes of action,
suits,  debts,  dues,  sums  of  money,  accounts,   reckonings,  bonds,  bills,
specialties,   covenants,  contracts,   controversies,   agreements,   promises,
variances,  trespasses,  judgments,  executions, claims, demands, counterclaims,
rights to damages and liabilities  (collectively,  "Claims"),  that the Investor
ever had,  now has, or  hereafter  might,  can or shall have against the Company
Persons under statute, common law or otherwise,  for or by reason of the sale of
the  Preferred  Stock,  other than Claims that are for gross  negligence  or the
commission  of fraud as an officer or director in their  conduct of the business
of the Company.

11. Severability;  Remedies.  In the event any parts of this Agreement are found
to be void, the remaining  provisions of this Agreement are nevertheless binding
with the same effect as though the void parts were deleted.

12. Governing Law and  Jurisdiction.  This Agreement will be deemed to have been
made and  delivered  in New York,  New York and will be governed as to validity,
interpretation,  construction,  effect and in all other respects by the internal
laws of the State of New York.  Each of the Company and the Investor  hereby (i)
agrees that any legal suit,  action or proceeding  arising out of or relating to
this Agreement  will be instituted  exclusively in the state courts of New York,
in the  County of New York,  or in the United  States  Southern  District  Court
located in New York City,  New York,  (ii) waives any  objection to the venue of

                                       14
<PAGE>

any such suit,  action or proceeding  and the right to assert that such forum is
not a convenient forum for such suit,  action or proceeding,  (iii)  irrevocably
consents to the  jurisdiction  of the above  mentioned  courts in any such suit,
action or proceeding,  (iv) agrees to accept and acknowledge  service of any and
all process  that may be served in any such suit,  action or  proceeding  in the
above mentioned courts, and (v) agrees that service of process upon it mailed by
certified mail to its address set forth on the Investor's signature page will be
deemed in every respect effective service of process upon it in any suit, action
or proceeding.

13.  Counterparts.  This Agreement may be executed in one or more  counterparts,
each of  which  will be  deemed  an  original  but all of  which  together  will
constitute one and the same  instrument.  The execution of this Agreement may be
by actual or facsimile signature.

14.  Benefit.  Except as otherwise set forth herein,  this  Agreement is binding
upon and inures to the benefit of the  parties  hereto (and KRM to the extent it
is a third-party  beneficiary  hereof) and their  respective  heirs,  executors,
personal   representatives,   successors  and  assigns.  KRM  is  a  third-party
beneficiary with respect to sections 9 and 10 to the extent set forth therein.

15.  Notices.  All  notices,  offers,  acceptance  and any other acts under this
Agreement  (except  payment) must be in writing,  and is  sufficiently  given if
delivered to the  addressees in person,  by overnight  courier  service,  or, if
mailed, postage prepaid, by certified mail (return receipt requested),  and will
be  effective  three days  after  being  placed in the mail if  mailed,  or upon
receipt  or  refusal  of  receipt,  if  delivered  personally  or by  courier or
confirmed telecopy, in each case addressed to a party. All communications to the
Investor  should be sent to the  Investor's  preferred  address on the signature
page hereto. All communications to the Company should be sent to:

                           Chiste Corporation
                           c/o HydroGen, LLC
                           1801 Route 51South
                           Jefferson Hills, Pennsylvania  15025
                           Attn:  Joshua Tosteson

16. Oral Evidence.  This Agreement  constitutes the entire agreement between the
parties with respect to the subject  matter hereof and supersedes all prior oral
and written  agreements  between the parties  hereto with respect to the subject
matter  hereof.  This  Agreement  may not be  changed,  waived,  discharged,  or
terminated  orally,  but rather,  only by a statement  in writing  signed by the
party or parties against which enforcement or the change,  waiver,  discharge or
termination is sought.

17. Section  Headings.  Section headings herein have been inserted for reference
only and will not be deemed to limit or otherwise  affect,  in any matter, or be
deemed to interpret in whole or in part,  any of the terms or provisions of this
Agreement.

18. Survival of Representations, Warranties and Agreements. The representations,
warranties and agreements contained herein will survive the delivery of, and the
payment for, the Preferred Stock and the exchange for the Common Stock.

                                       15
<PAGE>

SIGNATURE PAGE - COMPLETE ALL INFORMATION

Name of Entity:
                               -------------------------------------------------
Address of Principal Office:
                               -------------------------------------------------
Telephone:                                Fax:
           -----------------------------       ---------------------------------
Taxpayer Identification Number:
                                  ----------------------------------------------
Name in which the certificates are to be registered:
                                                        ------------------------
Name of persons or persons with investment and voting authority:
                                                                    ------------

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

<TABLE>
<CAPTION>
Check type of Entity:

<S> <C>  <C>                      <C>   <C>                    <C>    <C>             <C>    <C>
   |_|   Employee Benefit Plan    |_|   Limited Partnership    |_|    General          |_|   Individual Retirement
         Trust                                                        Partnership            Account

   |_|   Limited Liability        |_|   Revocable Trust        |_|    Corporation      |_|   Other
         Company                                                                             (please indicate)

   |_|   Irrevocable  Trust  (If  the  Investor  is an  Irrevocable  Trust,  a
         supplemental  questionnaire must be completed by the person directing
         the  decision  for the  trust to  determine  by  accredited  investor
         status.)
</TABLE>

Amount of Investment:
---------------------

Number of Shares:
                     ------------------------------------------

Corresponding dollar amount ($________ multiplied by number of Shares): $
                                                                        --------
Date of Formation or incorporation:                 State of Formation:
                                    ---------------                     --------
Describe the business of the Entity:
                                    --------------------------------------------

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

                                       16
<PAGE>

List the  names and  positions  of the  executive  officers,  managing  members,
partners or trustees authorized to act with respect to investments by the Entity
generally  and  specify  who has  the  authority  to act  with  respect  to this
investment.

<TABLE>
<CAPTION>
========================================================================================================================
<S>                                          <C>                                   <C>
Name                                         Position                              Authority for this investment (yes
                                                                                                 or no)
-------------------------------------------- ------------------------------------ --------------------------------------

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

========================================================================================================================
</TABLE>

================================================================================
INVESTOR:                                      CHISTE CORPORATION

_________________________________________      By:______________________________

Signature of Authorized Signatory

Name:____________________________________      Name:____________________________

Title:___________________________________      Title:___________________________

Date:____________________________________      Date:____________________________

================================================================================

                                       17EXHIBIT 10.13

                          REGISTRATION RIGHTS AGREEMENT

      THIS  REGISTRATION  RIGHTS  AGREEMENT  (this  "Agreement")  is made by and
between  Chiste  Corporation,  a Nevada  corporation  (the  "Company"),  and the
undersigned  investors  (individually.   an  "Investor"  and  collectively,  the
"Investors") effective as of this 7th day of June, 2005.

      This Agreement is being entered into pursuant to the separate Subscription
Agreements,  dated as of the date hereof  between the Company and each  Investor
(individually,   a  "Purchase   Agreement"  and   collectively,   the  "Purchase
Agreements").

      The Company and the Investors hereby agree as follows:

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

            "Advice" shall have meaning set forth in Section 3(m).

            "Affiliate" means, with respect to any Person, any other Person that
      directly  or  indirectly  controls  or is  controlled  by or under  common
      control with such Person. For the purposes of this definition,  "Control,"
      when used with  respect to any  Person,  means the  possession,  direct or
      indirect,  of the power to direct or cause the direction of the management
      and  policies of such  Person,  whether  through the  ownership  of voting
      securities,   by  contract  or  otherwise;  and  the  terms  "Affiliated,"
      "Controlling" and "Controlled" have meanings correlative to the foregoing.

            "Board" shall have meaning set forth in Section 3(n).

            "Business  Day"  means any day except  Saturday,  Sunday and any day
      which shall be a legal holiday or a day on which banking  institutions  in
      the State of New York generally are authorized or required by law or other
      government actions to close.

            "Closing Date" means the date hereof.

            "Commission" means the Securities and Exchange Commission.

            "Common  Stock" means the Company's  common stock,  par value $0.001
      per share.

            "Effectiveness   Date"  means,  with  respect  to  the  Registration
      Statement  required  to be filed  hereunder,  the earlier of (a) the 150th
      calendar day  following  the date of the Purchase  Agreement,  and (b) the
      second  trading day following the date on which the Company is notified by
      the Commission that the Registration  Statement will not be reviewed or is
      no longer subject to further review and comments.

<PAGE>

            "Effectiveness  Period"  shall have the meaning set forth in Section
      2.

            "Exchange  Act"  means  the  Securities  Exchange  Act of  1934,  as
      amended.

            "Filing Date" means the later of (i) the 90th day following the date
      hereof,  and (ii) 10 days after the filing by the Company of the financial
      statements  of the Company and HydroGen on a combined  basis in a Form 8-K
      filing or other  periodic  report filed under the Exchange Act,  provided,
      however,  that if such financial  statements  shall not be so filed within
      120 days of the date  hereof,  the  "Filing  Date"  shall be the 121st day
      after the date hereof.

            "Holder" or "Holders"  means the holder or holders,  as the case may
      be, from time to time of Registrable Securities pursuant to this Agreement
      or any other similar agreement between the Company and such holder.

            "HydroGen"  means  HydroGen,   L.L.C.,  an  Ohio  limited  liability
      company.

            "Indemnified  Party"  shall  have the  meaning  set forth in Section
      5(c).

            "Indemnifying  Party"  shall have the  meaning  set forth in Section
      5(c).

            "Losses" shall have the meaning set forth in Section 5(a).

            "Memorandum"  means  HydroGen's  Investment  Summary,  dated May 13,
      2005, with respect to the offer and sale of up to 80 Units.

            "Person" means an individual or a corporation,  partnership,  trust,
      incorporated  or  unincorporated   association,   joint  venture,  limited
      liability  company,  joint  stock  company,  government  (or an  agency or
      political subdivision thereof) or other entity of any kind.

            "Preferred Stock" means the Company's Series B Convertible Preferred
      Stock, par value $0.001 per share.

            "Proceeding"  means  an  action,   claim,  suit,   investigation  or
      proceeding  (including,  without  limitation,  an investigation or partial
      proceeding, such as a deposition), whether commenced or threatened.

            "Prospectus"  means  the  prospectus  included  in the  Registration
      Statement (including,  without limitation,  a prospectus that includes any
      information  previously  omitted  from a  prospectus  filed  as part of an
      effective  registration  statement in reliance upon Rule 430A  promulgated
      under the Securities  Act), as amended or  supplemented  by any prospectus
      supplement,  with  respect to the terms of the  offering of any portion of
      the Registrable Securities covered by the Registration Statement,  and all
      other   amendments   and   supplements   to  the   Prospectus,   including
      post-effective  amendments,  and all material incorporated by reference in
      such Prospectus.

                                      -2-
<PAGE>

            "Registrable   Securities"  means  (i)  the  Shares,  and  (ii)  any
      securities issued or issuable with respect to such Shares or the Preferred
      Stock by way of a stock  dividend or stock split or in  connection  with a
      combination of shares,  recapitalization,  merger,  consolidation or other
      reorganization with respect to any of the securities referenced above.

            "Registration  Statement" means the registration  statements and any
      additional  registration  statements contemplated by Section 2 and Section
      7(c), including (in each case) the Prospectus,  amendments and supplements
      to  such  registration   statement  or  Prospectus,   including  pre-  and
      post-effective   amendments,   all  exhibits  thereto,  and  all  material
      incorporated by reference in such registration statement.

            "Rule 144" means Rule 144 promulgated by the Commission  pursuant to
      the Securities  Act, as such Rule may be amended from time to time, or any
      similar rule or  regulation  hereafter  adopted by the  Commission  having
      substantially the same effect as such Rule.

            "Rule 158" means Rule 158 promulgated by the Commission  pursuant to
      the Securities  Act, as such Rule may be amended from time to time, or any
      similar rule or  regulation  hereafter  adopted by the  Commission  having
      substantially the same effect as such Rule.

            "Securities Act" means the Securities Act of 1933, as amended.

            "Shares"  means the shares of Common Stock issuable or issued to the
      Investors up conversion of the Preferred Stock.

      Section 2.  Mandatory  Registration.  On or prior to the Filing Date,  the
Company  shall  prepare and file with the  Commission a  Registration  Statement
covering all Registrable Securities. The Registration Statement shall be on Form
S-3  (except if the  Company is not then  eligible  to  register  for resale the
Registrable  Securities on Form S-3, in which case such registration shall be on
another  appropriate  form). The Company shall use its  commercially  reasonable
efforts to cause the Registration  Statement to be declared  effective under the
Securities Act as promptly as possible after the filing thereof and to keep such
Registration  Statement  continuously  effective  under the Securities Act until
such  date as is the  earlier  of (x) the date when all  Registrable  Securities
covered by such  Registration  Statement have been sold or (y) the date on which
the Registrable  Securities may be sold without any restriction pursuant to Rule
144 as determined by the counsel to the Investors  pursuant to a written opinion
letter,   addressed  to  the  Company's  transfer  agent  to  such  effect  (the
"Effectiveness Period").

      Section 3.  Registration  Procedures.  In  connection  with the  Company's
registration obligations hereunder, the Company shall:

                                      -3-
<PAGE>

            (a) (i)  Prepare  and file  with the  Commission  on or prior to the
      Filing  Date, a  Registration  Statement on Form S-3 (or if the Company is
      not then  eligible to register for resale the  Registrable  Securities  on
      Form  S-3  such  registration  shall be on  another  appropriate  form) in
      accordance with the method or methods of distribution thereof as specified
      by the Holders,  and use its commercially  reasonable efforts to cause the
      Registration  Statement  to become  effective,  but in any event not later
      than the  Effectiveness  Date,  and remain  effective as provided  herein;
      provided,  however, that not less than five (5) Business Days prior to the
      filing of the  Registration  Statement  or any related  Prospectus  or any
      amendment or  supplement  thereto  (including  any document  that would be
      incorporated  therein by reference),  the Company shall (i) furnish to the
      Holders copies of all such documents proposed to be filed, which documents
      (other than those incorporated by reference) will be subject to the review
      of such Holders,  and (ii) cause its officers and  directors,  counsel and
      independent  certified public  accountants to respond to such inquiries as
      shall be necessary,  in the reasonable opinion of counsel to such Holders,
      to conduct a reasonable investigation within the meaning of the Securities
      Act.  The Company  shall not file the  Registration  Statement or any such
      Prospectus or any amendments or  supplements  thereto to which the Holders
      of a majority of the Registrable  Securities  shall  reasonably  object in
      writing  within  four (4)  Business  Days of their  receipt  thereof.  The
      Company   shall   promptly   notify  the  Holders  via  facsimile  of  the
      effectiveness  of the  Registration  Statement  no later  than the  second
      trading  day after  the  Company  receives  notification  (including  oral
      notification)  of the  effectiveness  from the  Commission.  Failure to so
      notify the  Holders  within  such  period  shall be deemed an Event  under
      Section  3(a)(ii).  In no event  shall the  Company  give  such  notice of
      effectiveness  to any  holder  of the  Company's  securities  (other  than
      officers of the Company)  prior to giving such notice to the Holders.  The
      Company  shall,  if necessary,  within two trading days after the day that
      the  Company  receives   notification  of  the   effectiveness   from  the
      Commission, file a Form 424(b) prospectus with the Commission.

            (ii) If: (i) a  Registration  Statement  is not filed on or prior to
      the Filing Date (if the Company  files a  Registration  Statement  without
      affording the Holders the opportunity to review and comment on the same as
      required  by  Section  3(a),  the  Company  shall  not be  deemed  to have
      satisfied  this clause  (i)),  or (ii) the Company  fails to file with the
      Commission  a  request  for  acceleration  in  accordance  with  Rule  461
      promulgated  under the Securities Act, within two trading days of the date
      that the Company is notified (orally or in writing,  whichever is earlier)
      by the Commission that a Registration Statement will not be "reviewed," or
      is not subject to further review, or (iii) a Registration  Statement filed
      or  required  to be  filed  hereunder  is not  declared  effective  by the
      Commission  on  or  before  the  Effectiveness   Date,  or  (iv)  after  a
      Registration  Statement is first declared effective by the Commission,  it
      ceases  for  any  reason  to  remain  continuously  effective  as  to  all
      Registrable  Securities  for which it is required to be effective,  or the
      Holders are not permitted to utilize the Prospectus therein to resell such
      Registrable  Securities,  for more than an  aggregate  of 30 trading  days
      during any 12-month  period (which need not be  consecutive  trading days)
      (any such  failure or breach  being  referred  to as an  "EVENT,"  and for
      purposes  of clause (i) or (iii) the date on which such Event  occurs,  or
      for  purposes of clause (ii) the date on which such two trading day period
      is  exceeded,  or for  purposes  of clause  (iv) the date on which such 30
      trading day period is exceeded being referred to as "Event Date"), then in
      addition  to any other  rights the  Holders  may have  hereunder  or under
      applicable  law (even if permitted by Section  3(h)),  then,  on each such
      Event Date and on each monthly anniversary of each such Event Date (if the
      applicable  Event  shall  not have  been  cured by such  date)  until  the

                                      -4-
<PAGE>

      applicable  Event is cured, the Company shall pay to each Holder an amount
      in cash, as partial liquidated damages and not as a penalty, equal to 1.0%
      of the  aggregate  purchase  price  paid by such  Holder  pursuant  to the
      Purchase Agreement for any Registrable Securities then held by such Holder
      up to a maximum of 10% in the aggregate for all liquidated damages payable
      hereunder (exclusive of interest as provided in the next sentence). If the
      Company  fails to pay any  partial  liquidated  damages  pursuant  to this
      Section in full within seven days after the date payable, the Company will
      pay  interest  thereon at a rate of 12% per annum (or such lesser  maximum
      amount  that is  permitted  to be paid by  applicable  law) to the Holder,
      accruing daily from the date such partial liquidated damages are due until
      such  amounts,  plus  all such  interest  thereon,  are paid in full.  The
      partial  liquidated damages pursuant to the terms hereof shall accrue on a
      daily  pro-rata  basis for any  portion of a month prior to the cure of an
      Event and shall be paid within 2 trading days of the cure of such Event.

            (b) (i)  Prepare  and file  with  the  Commission  such  amendments,
      including post-effective  amendments, to the Registration Statement as may
      be necessary to keep the Registration  Statement continuously effective as
      to the applicable  Registrable Securities for the Effectiveness Period and
      prepare  and  file  with  the  Commission  such  additional   Registration
      Statements in order to register for resale under the Securities Act all of
      the  Registrable  Securities;  (ii)  cause the  related  Prospectus  to be
      amended or supplemented by any required Prospectus  supplement,  and as so
      supplemented  or amended to be filed  pursuant to Rule 424 (or any similar
      provisions  then in force)  promulgated  under the  Securities  Act; (iii)
      respond  as  promptly  as  possible  to any  comments  received  from  the
      Commission  with respect to the  Registration  Statement or any  amendment
      thereto and as promptly as possible  provide the Holders true and complete
      copies of all  correspondence  from and to the Commission  relating to the
      Registration Statement;  and (iv) comply in all material respects with the
      provisions of the  Securities Act and the Exchange Act with respect to the
      disposition  of all  Registrable  Securities  covered by the  Registration
      Statement  during the  applicable  period in accordance  with the intended
      methods  of  disposition   by  the  Holders   thereof  set  forth  in  the
      Registration  Statement  as  so  amended  or  in  such  Prospectus  as  so
      supplemented.

            (c)  Notify  the  Holders of  Registrable  Securities  to be sold as
      promptly  as possible  (and,  in the case of (i)(A)  below,  not less than
      three (3) days prior to such filing) and (if requested by any such Person)
      confirm  such  notice  in  writing  no  later  than one (1)  Business  Day
      following the day (i)(A) when a Prospectus or any Prospectus supplement or
      post-effective  amendment to the Registration  Statement is proposed to be
      filed; (B) when the Commission  notifies the Company whether there will be
      a "review" of such  Registration  Statement  and whenever  the  Commission
      comments in writing on such Registration  Statement;  and (C) with respect
      to the Registration  Statement or any post-effective  amendment,  when the
      same has become  effective;  (ii) of any request by the  Commission or any
      other  federal  or  state   governmental   authority  for   amendments  or
      supplements to the Registration  Statement or Prospectus or for additional
      information;  (iii) of the  issuance by the  Commission  of any stop order
      suspending the effectiveness of the Registration Statement covering any or
      all of the Registrable Securities or the initiation of any Proceedings for

                                      -5-
<PAGE>

      that  purpose;  (iv)  if at  any  time  any  of  the  representations  and
      warranties of the Company contained in any agreement  contemplated  hereby
      ceases to be true and correct in all material respects; (v) of the receipt
      by the Company of any  notification  with respect to the suspension of the
      qualification  or exemption from  qualification  of any of the Registrable
      Securities for sale in any jurisdiction,  or the initiation or threatening
      of any  Proceeding  for such  purpose;  and (vi) of the  occurrence of any
      event that  makes any  statement  made in the  Registration  Statement  or
      Prospectus  or any  document  incorporated  or deemed  to be  incorporated
      therein by reference  untrue in any material  respect or that requires any
      revisions to the Registration Statement,  Prospectus or other documents so
      that, in the case of the Registration Statement or the Prospectus,  as the
      case may be, it will not contain any untrue  statement of a material  fact
      or omit to state  any  material  fact  required  to be stated  therein  or
      necessary to make the statements therein not misleading.

            (d) Use its  commercially  reasonable  efforts to avoid the issuance
      of, or, if issued,  obtain the withdrawal of, (i) any order suspending the
      effectiveness of the Registration  Statement or (ii) any suspension of the
      qualification (or exemption from  qualification) of any of the Registrable
      Securities  for  sale in any  jurisdiction,  at the  earliest  practicable
      moment.

            (e) If  requested  by the  Holders of a majority  in interest of the
      Registrable   Securities,   (i)  promptly   incorporate  in  a  Prospectus
      supplement or post-effective  amendment to the Registration Statement such
      information as the Company  reasonably  agrees should be included  therein
      and (ii) make all required  filings of such Prospectus  supplement or such
      post-effective  amendment  as soon as  practicable  after the  Company has
      received notification of the matters to be incorporated in such Prospectus
      supplement or post-effective amendment.

            (f) Furnish to each Holder,  without charge,  at least one conformed
      copy of each Registration Statement and each amendment thereto,  including
      financial statements and schedules,  all documents  incorporated or deemed
      to be  incorporated  therein by reference,  and all exhibits to the extent
      requested  by  such  Holder  (including  those  previously   furnished  or
      incorporated  by reference)  promptly  after the filing of such  documents
      with the Commission.

            (g) Promptly deliver to each Holder,  without charge, as many copies
      of the Prospectus or Prospectuses  (including each form of prospectus) and
      each  amendment  or  supplement  thereto as such  Persons  may  reasonably
      request; and the Company hereby consents to the use of such Prospectus and
      each  amendment  or  supplement  thereto,  during  periods  in which  such
      Prospectus and each amendment or supplement thereto are effective, by each
      of the selling  Holders in  connection  with the  offering and sale of the
      Registrable  Securities  covered by such  Prospectus  and any amendment or
      supplement thereto.

                                      -6-
<PAGE>

            (h) Prior to any public offering of Registrable Securities,  use its
      commercially  reasonable  efforts to  register  or  qualify  (or obtain an
      exemption  from  such  registration  or  qualification)  such  Registrable
      Securities  for offer and sale  under the  securities  or Blue Sky laws of
      such  jurisdictions  within the United  States as any Holder  requests  in
      writing,  to keep each such  registration or  qualification  (or exemption
      therefrom) effective during the Effectiveness Period and to do any and all
      other acts or things  necessary or advisable to enable the  disposition in
      such jurisdictions of the Registrable Securities covered by a Registration
      Statement;  provided,  however,  that the Company shall not be required to
      qualify generally to do business in any jurisdiction  where it is not then
      so  qualified  or to take any  action  that  would  subject  it to general
      service  of  process  in any  such  jurisdiction  where  it is not then so
      subject  or  subject  the  Company  to  any   material  tax  in  any  such
      jurisdiction where it is not then so subject.

            (i) Cooperate with the Holders to facilitate the timely  preparation
      and delivery of  certificates  representing  Registrable  Securities to be
      sold pursuant to a Registration  Statement,  which certificates  shall, if
      required  under the terms of this  Agreement,  be free of all  restrictive
      legends,  and  to  enable  such  Registrable  Securities  to  be  in  such
      denominations and registered in such names as any Holder may request.

            (j)  Upon  the  occurrence  of any  event  contemplated  by  Section
      3(c)(vi),  as promptly as  possible,  prepare a supplement  or  amendment,
      including a post-effective  amendment,  to the Registration Statement or a
      supplement  to the related  Prospectus  or any  document  incorporated  or
      deemed  to be  incorporated  therein  by  reference,  and file  any  other
      required   document  so  that,  as  thereafter   delivered,   neither  the
      Registration   Statement  nor  such  Prospectus  will  contain  an  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  not
      misleading.

            (k) Use its commercially reasonable efforts to cause all Registrable
      Securities relating to such Registration Statement to be traded on the OTC
      Bulletin Board, or listed on the Nasdaq SmallCap  Market,  Nasdaq National
      Market,  American  Stock  Exchange  and  any  other  securities  exchange,
      quotation system or market, if any, on which similar  securities issued by
      the Company are then listed.

            (l) Comply in all material  respects with all  applicable  rules and
      regulations of the Commission and make generally available to its security
      holders earning  statements  satisfying the provisions of Section 11(a) of
      the  Securities  Act and Rule 158 not later  than 45 days after the end of
      any 12-month  period (or 90 days after the end of any  12-month  period if
      such  period is a fiscal  year)  commencing  on the first day of the first
      fiscal quarter of the Company after the effective date of the Registration
      Statement, which statement shall conform to the requirements of Rule 158.

            (m) If the  Registration  Statement  refers to any Holder by name or
      otherwise as the holder of any securities of the Company, then such Holder
      shall have the right to require (if such  reference to such Holder by name
      or otherwise is not required by the Securities Act or any similar  federal
      statute then in force) the deletion of the reference to such Holder in any
      amendment or supplement to the  Registration  Statement  filed or prepared
      subsequent to the time that such reference ceases to be required.

                                      -7-
<PAGE>

      Each Holder covenants and agrees that (i) it will not sell any Registrable
Securities under the Registration  Statement until it has received copies of the
Prospectus as then amended or  supplemented  as contemplated in Section 3(g) and
notice from the Company that such Registration  Statement and any post-effective
amendments  thereto have become  effective as contemplated by Section 3(c), (ii)
it will comply with the prospectus  delivery  requirements of the Securities Act
as applicable to it in connection with sales of Registrable  Securities pursuant
to the  Registration  Statement  and  (iii)  it  will  furnish  to  the  Company
information  regarding  such  Holder and the  distribution  of such  Registrable
Securities as is required by law or by the Securities and Exchange Commission to
be disclosed  in the  Registration  Statement,  and the Company may exclude from
such registration the Registrable Securities of any such Holder who unreasonably
fails to furnish such  information  within a reasonable  time after  receiving a
written request by the Company for such information.

      Each Holder agrees by its acquisition of such Registrable Securities that,
upon receipt of a notice from the Company of the  occurrence of any event of the
kind described in Section 3(c)(ii),  3(c)(iii),  3(c)(iv),  3(c)(v) or 3(c)(vi),
such  Holder  will  forthwith   discontinue   disposition  of  such  Registrable
Securities under the  Registration  Statement until such Holder's receipt of the
copies of the  supplemented  Prospectus  and/or amended  Registration  Statement
contemplated  by Section 3(j), or until it is advised in writing (the  "Advice")
by the Company that the use of the applicable Prospectus may be resumed, and, in
either case, has received copies of any additional or supplemental  filings that
are incorporated or deemed to be incorporated by reference in such Prospectus or
Registration Statement.

            (n) If (i) there is material  non-public  information  regarding the
      Company which the Company's  Board of Directors  (the "Board")  reasonably
      determines  not to be in the Company's best interest to disclose and which
      the  Company is not  otherwise  required to  disclose,  or (ii) there is a
      significant  business  opportunity  (including,  but not  limited  to, the
      acquisition or disposition of assets (other than in the ordinary course of
      business)  or any merger,  consolidation,  tender  offer or other  similar
      transaction)   available  to  the  Company  which  the  Board   reasonably
      determines not to be in the Company's best interest to disclose,  then the
      Company may postpone or suspend filing or  effectiveness of a registration
      statement for a period not to exceed 20  consecutive  days,  provided that
      the Company may not postpone or suspend its obligation  under this Section
      3(n) for more than 30 days in the  aggregate  during any 12 month  period;
      provided,  however,  that no such  postponement  or  suspension  shall  be
      permitted for  consecutive 15 day periods,  arising out of the same set of
      facts, circumstances or transactions.

            (o) Enter into such customary agreements  (including an underwriting
      agreement,  in the event that the Shares are to be distributed by means of
      an underwritten public offering) and take such other actions in connection
      therewith  as a Holder  of the  Registrable  Securities  shall  reasonably
      request  in  order to  expedite  or  facilitate  the  disposition  of such
      Registrable  Securities  in  accordance  herewith and in such  connection,
      whether or not an  underwriting  agreement  is entered into and whether or
      not  the   disposition  is  an  underwritten   offering,   (i)  make  such
      representations  and  warranties to the Holders and the  underwriters,  if
      any,  in  form,  substance  and  scope  as  are  customarily  made  in  an
      underwritten offering; (ii) obtain an opinion of counsel to the Company in
      customary form and covering such matters of the type  customarily  covered
      by such opinions as a Holder and the underwriters,  if any, may reasonably
      request,  addressed to the selling Holders and the  underwriters,  if any,
      and dated the effective date of such registration  statement and dated the
      effective  date  of  a   post-effective   amendment  to  the  registration
      statement,  if such is filed (or, if such registration statement covers an
      underwritten  offering,  dated the date of the closing as specified in the
      underwriting  agreement);  and (iii) obtain a "cold comfort" or procedures
      letter from the independent  certified  public  accountants of the Company
      addressed to the selling  Holders and to the  underwriters,  if any, dated
      the effective date of such registration  statement and dated the effective
      date of a post-effective  amendment to the registration statement, if such
      is filed  (and,  if such  registration  statement  covers an  underwritten
      offering,  dated the date of the closing as specified in the  underwriting
      agreement),  such letter to be in customary form and covering such matters
      of the type customarily covered by such letter;

      Section 4.  Registration  Expenses.  All fees and expenses incident to the
performance of or compliance  with this Agreement by the Company,  except as and
to the extent specified in this Section 4, shall be borne by the Company whether
or not the Registration  Statement is filed or becomes  effective and whether or
not any Registrable Securities are sold pursuant to the Registration  Statement.
The fees and  expenses  referred to in the  foregoing  sentence  shall  include,
without  limitation,  (i) all registration  and filing fees (including,  without
limitation,  fees and expenses  (A) with respect to filings  required to be made
with the OTC Bulletin Board,  Nasdaq SmallCap  Market,  Nasdaq National  Market,
American  Stock Exchange and each other  securities  exchange or market on which
Registrable  Securities  are  required  hereunder  to  be  listed,  and  (B)  in
compliance  with state  securities  or Blue Sky laws),  (ii)  printing  expenses
(including,   without   limitation,   expenses  of  printing   certificates  for
Registrable   Securities  and  of  printing  prospectuses  if  the  printing  of
prospectuses  is  requested  by the  holders  of a majority  of the  Registrable
Securities included in the Registration Statement),  (iii) messenger,  telephone
and delivery  expenses,  (iv) fees and disbursements of counsel for the Company,
(v)  Securities  Act  liability  insurance,  if  the  Company  so  desires  such
insurance,  and (vi) fees and  expenses  of all other  Persons  retained  by the

                                      -8-
<PAGE>

Company in connection with the consummation of the transactions  contemplated by
this Agreement,  including, without limitation, the Company's independent public
accountants  (including the expenses of any comfort letters or costs  associated
with the  delivery by  independent  public  accountants  of a comfort  letter or
comfort letters).  In addition,  the Company shall be responsible for all of its
internal   expenses   incurred  in  connection  with  the  consummation  of  the
transactions contemplated by this Agreement (including,  without limitation, all
salaries  and  expenses  of its  officers  and  employees  performing  legal  or
accounting  duties),  the  expense of any annual  audit,  the fees and  expenses
incurred in  connection  with the listing of the  Registrable  Securities on any
securities exchange as required hereunder. The Company shall also be responsible
for one half of the reasonable  fees and expenses of one counsel for the Holders
in connection with the registration of the Shares contemplated hereby; provided,
however,  the Company shall not be required to pay more than $50,000 pursuant to
this Section 4.

      Section 5. Indemnification.

            (a)   Indemnification   by   the   Company.   The   Company   shall,
      notwithstanding  any  termination  of this  Agreement,  indemnify and hold
      harmless each Holder, the officers,  directors, agents, brokers (including
      brokers who offer and sell Registrable Securities as principal as a result
      of a pledge  or any  failure  to  perform  under a margin  call of  Common
      Stock), investment advisors and employees of each of them, each Person who
      controls each Holder  (within the meaning of Section 15 of the  Securities
      Act or Section 20 of the Exchange Act) and the officers, directors, agents
      and employees of each such  controlling  Person,  from and against any and
      all  losses,  claims,  damages,  liabilities,  costs  (including,  without
      limitation,  costs  of  preparation  and  attorneys'  fees)  and  expenses

                                      -9-
<PAGE>

      (collectively,  "Losses")  as  incurred,  arising out of or based upon any
      untrue or alleged  untrue  statement of a material  fact  contained in the
      Registration Statement, any Prospectus or any form of prospectus or in any
      amendment  or  supplement  thereto or in any  preliminary  prospectus,  or
      arising  out of or based upon any  omission  or alleged  omission to state
      therein a material fact required to be stated therein or necessary to make
      the  statements  therein  (in  the  case  of any  Prospectus  or  form  of
      prospectus or supplement  thereto, in the light of the circumstances under
      which they were made) not  misleading,  except to the extent,  but only to
      the extent,  that such untrue  statement  or omission is based solely upon
      information   regarding  such  Holder  or  such  other  Indemnified  Party
      furnished  in writing  to the  Company by such  Holder  expressly  for use
      therein. The Company shall notify such Holder promptly of the institution,
      threat or  assertion  of any  Proceeding  of which the Company is aware in
      connection with the transactions contemplated by this Agreement.

            (b)  Indemnification  by  Holder.  Each  Holder,  severally  and not
      jointly,  shall  indemnify and hold harmless the Company,  the  directors,
      officers,  agents and  employees,  each  Person who  controls  the Company
      (within the meaning of Section 15 of the  Securities Act and Section 20 of
      the Exchange  Act), and the  directors,  officers,  agents or employees of
      such  controlling  Persons,  to the fullest extent permitted by applicable
      law,  from and against all Losses as  incurred,  arising  solely out of or
      based solely upon any untrue  statement or alleged  untrue  statement of a
      material fact contained in the Registration Statement, any Prospectus,  or
      any  form of  prospectus  or form of  prospectus  or in any  amendment  or
      supplement thereto or in any preliminary prospectus, or arising solely out
      of or based  solely upon any  omission of a material  fact  required to be
      stated therein or necessary to make the statements therein (in the case of
      any Prospectus or supplement  thereto,  in the light of the  circumstances
      under which they were made) not misleading, to the extent, but only to the
      extent, that such untrue statement or omission or alleged untrue statement
      or omission is contained in any  information  furnished in writing by such
      Holder to the  Company  specifically  for  inclusion  in the  Registration
      Statement  or such  Prospectus.  In no event  shall the  liability  of any
      Holder  hereunder  be greater in amount than the dollar  amount of the net
      proceeds  received  by  such  Holder  upon  the  sale  of the  Registrable
      Securities giving rise to such indemnification obligation.

            (c) Conduct of Indemnification  Proceedings. If any Proceeding shall
      be brought or asserted against any Person entitled to indemnity  hereunder
      (an "Indemnified Party"), such Indemnified Party promptly shall notify the
      Person  from  whom  indemnity  is sought  (the  "Indemnifying  Party")  in
      writing,  and the  Indemnifying  Party shall  assume the defense  thereof,
      including  the  employment  of  counsel  reasonably  satisfactory  to  the
      Indemnified  Party and the  payment of all fees and  expenses  incurred in
      connection with defense thereof;  provided,  however,  that the failure of
      any  Indemnified   Party  to  give  such  notice  shall  not  relieve  the
      Indemnifying  Party of its  obligations  or  liabilities  pursuant to this
      Agreement,  except  (and  only) to the  extent  that it  shall be  finally
      determined by a court of competent  jurisdiction  (which  determination is
      not  subject to appeal or further  review)  that such  failure  shall have
      proximately and materially adversely prejudiced the Indemnifying Party.

                                      -10-
<PAGE>

            An Indemnified Party shall have the right to employ separate counsel
      in any such Proceeding and to participate in the defense thereof,  but the
      fees  and  expenses  of  such  counsel  shall  be at the  expense  of such
      Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed
      in writing to pay such fees and expenses;  or (2) the  Indemnifying  Party
      shall have failed promptly to assume the defense of such Proceeding and to
      employ counsel  reasonably  satisfactory to such Indemnified  Party in any
      such  Proceeding;  or  (3)  the  named  parties  to  any  such  Proceeding
      (including any impleaded  parties) include both such Indemnified Party and
      the Indemnifying Party, and such Indemnified Party shall have been advised
      by counsel  that a  conflict  of  interest  is likely to exist if the same
      counsel  were to represent  such  Indemnified  Party and the  Indemnifying
      Party (in which case, if such Indemnified  Party notifies the Indemnifying
      Party in writing that it elects to employ separate  counsel at the expense
      of the Indemnifying Party, the Indemnifying Party shall not have the right
      to assume the defense  thereof and such  counsel (in addition to any local
      counsel)  shall  be  at  the  expense  of  the  Indemnifying  Party).  The
      Indemnifying  Party  shall not be liable  for any  settlement  of any such
      Proceeding  effected without its written consent,  which consent shall not
      be unreasonably  withheld or delayed. No Indemnifying Party shall, without
      the prior written consent of the Indemnified Party,  effect any settlement
      of any pending  Proceeding in respect of which any Indemnified  Party is a
      party,  unless such settlement  includes an unconditional  release of such
      Indemnified Party from all liability on claims that are the subject matter
      of such  Proceeding  and does not contain any  admission of  wrongdoing by
      such Indemnified Party.

            All fees and expenses of the Indemnified Party (including reasonable
      fees and expenses to the extent incurred in connection with  investigating
      or preparing to defend such Proceeding in a manner not  inconsistent  with
      this  Section  5) shall be paid to the  Indemnified  Party,  as  incurred,
      within  ten  (10)  Business  Days  of  written   notice   thereof  to  the
      Indemnifying Party (regardless of whether it is ultimately determined that
      an  Indemnified  Party  is  not  entitled  to  indemnification  hereunder;
      provided,   however,   that  the  Indemnifying   Party  may  require  such
      Indemnified  Party to undertake to reimburse all such fees and expenses to
      the extent it is finally judicially determined that such Indemnified Party
      is not entitled to indemnification hereunder).

            (d) Contribution.  If a claim for indemnification under Section 5(a)
      or  Section  5(b) is  unavailable  to an  Indemnified  Party  because of a
      failure  or  refusal  of  a   governmental   authority   to  enforce  such
      indemnification  in accordance  with its terms (by reason of public policy
      or otherwise),  then each Indemnifying Party, in lieu of indemnifying such
      Indemnified  Party, shall contribute to the amount paid or payable by such
      Indemnified  Party as a result of such Losses,  in such  proportion  as is
      appropriate  to reflect the relative fault of the  Indemnifying  Party and
      Indemnified Party in connection with the actions,  statements or omissions
      that  resulted  in such  Losses  as well as any other  relevant  equitable
      considerations.   The  relative  fault  of  such  Indemnifying  Party  and
      Indemnified Party shall be determined by reference to, among other things,
      whether any action in  question,  including  any untrue or alleged  untrue
      statement of a material fact or omission or alleged omission of a material
      fact,  has been taken or made by, or relates to  information  supplied by,
      such  Indemnifying  Party or Indemnified  Party, and the parties' relative
      intent,  knowledge,  access to information  and  opportunity to correct or
      prevent such action,  statement or omission. The amount paid or payable by
      a party as a result of any Losses  shall be deemed to include,  subject to
      the  limitations  set forth in Section 5(c), any reasonable  attorneys' or
      other  reasonable  fees or expenses  incurred by such party in  connection
      with any  Proceeding to the extent such party would have been  indemnified
      for such fees or  expenses  if the  indemnification  provided  for in this
      Section was available to such party in accordance with its terms.

                                      -11-
<PAGE>

            The parties  hereto agree that it would not be just and equitable if
      contribution  pursuant to this  Section 5(d) were  determined  by pro rata
      allocation  or by any other method of  allocation  that does not take into
      account  the  equitable  considerations  referred  to in  the  immediately
      preceding  paragraph.  No Person  guilty of  fraudulent  misrepresentation
      (within  the  meaning of  Section  11(f) of the  Securities  Act) shall be
      entitled  to  contribution  from any  Person  who was not  guilty  of such
      fraudulent misrepresentation.

            The indemnity and contribution  agreements contained in this Section
      are in addition to any liability that the Indemnifying Parties may have to
      the Indemnified Parties. Notwithstanding the foregoing, the obligations of
      the Holders herein shall be the several, and not joint, obligation of each
      Holder as to itself and not as to any other Holder.

      Section 6. Rule 144.  The  Company  covenants  to timely  file all reports
required  to be filed by the Company  after the date hereof  pursuant to Section
13(a) or 15(d) of the Exchange  Act. As long as the Holder owns  Shares,  if the
Company is not  required to file reports  pursuant to Section  13(a) or 15(d) of
the Exchange  Act, it will  prepare and furnish to the Holder and make  publicly
available in accordance  with Rule 144(c)  promulgated  under the Securities Act
annual and  quarterly  financial  statements,  together  with a  discussion  and
analysis  of such  financial  statements  in form  and  substance  substantially
similar to those that would  otherwise  be  required  to be  included in reports
required  by Section  13(a) or 15(d) of the  Exchange  Act, as well as any other
information  required  thereby,  in the time period that such filings would have
been  required to have been made under the  Exchange  Act.  The Company  further
covenants  that it will take such  further  action as the Holder may  reasonably
request,  all to the extent  required from time to time to enable such Person to
sell Shares without  registration under the Securities Act within the limitation
of the exemptions  provided by Rule 144  promulgated  under the Securities  Act,
including  providing any legal  opinions  relating to such sale pursuant to Rule
144.  Upon the request of the Holder,  the Company shall deliver to the Holder a
written certification of a duly authorized officer as to whether it has complied
with such requirements.

      Section 7. Miscellaneous.

            (a)  Remedies.  In the  event of a breach by the  Company  or by any
      Holder, of any of their  obligations  under this Agreement,  the Holder or
      the Company, as the case may be, will be entitled to specific  performance
      of its rights  hereunder,  in addition to being  entitled to exercise  all
      rights  granted by law and under this  Agreement,  including  recovery  of
      damages. The Company and the Holders agree that monetary damages would not
      provide  adequate  compensation  for any  losses  incurred  by reason of a
      breach of any of the provisions of this Agreement and hereby further agree
      that,  in the event of any action for specific  performance  in respect of
      such  breach,  it shall  waive the  defense  that a remedy at law would be
      adequate.

            (b) No Inconsistent  Agreements.  Neither the Company nor any of its
      subsidiaries  has, as of the date hereof  entered  into and  currently  in
      effect, nor shall the Company or any of its subsidiaries,  on or after the
      date of this  Agreement,  enter  into any  agreement  with  respect to its
      securities that is inconsistent  with the rights granted to the Holders in
      this Agreement or otherwise conflicts with the provisions hereof.

                                      -12-
<PAGE>

            (c)  Piggy-Back  Registrations.  If at any time when there is not an
      effective Registration Statement covering the Registrable Securities,  the
      Company  shall  determine  to  prepare  and  file  with the  Commission  a
      registration  statement relating to an offering for its own account or the
      account  of  others  under  the  Securities  Act  of  any  of  its  equity
      securities,  other than on Form S-4 or Form S-8 (each as promulgated under
      the  Securities  Act)  or  their  then  equivalents   relating  to  equity
      securities to be issued solely in connection  with any  acquisition of any
      entity or business or equity securities  issuable in connection with stock
      option or other  employee  benefit  plans,  the Company shall send to each
      holder of Registrable Securities written notice of such determination and,
      if within fifteen (15) days after receipt of such notice,  any such holder
      shall so request in writing (which  request shall specify the  Registrable
      Securities intended to be disposed of by the Investors),  the Company will
      cause  the  registration  under  the  Securities  Act of  all  Registrable
      Securities  which the  Company  has been so  requested  to register by the
      Holders,  to  the  extent  requisite  to  permit  the  disposition  of the
      Registrable  Securities so to be registered,  provided that if at any time
      after giving  written  notice of its intention to register any  securities
      and prior to the effective  date of the  registration  statement  filed in
      connection  with such  registration,  the Company shall  determine for any
      reason not to register or to delay  registration of such  securities,  the
      Company may, at its election, give written notice of such determination to
      the  Holders  and,  thereupon  (i) in the case of a  determination  not to
      register,  shall be relieved of its obligation to register any Registrable
      Securities  in  connection  with  such  registration  (but  not  from  its
      obligation to pay expenses in accordance with Section 4 hereof),  and (ii)
      in the case of a determination to delay registering, shall be permitted to
      delay registering any Registrable  Securities being registered pursuant to
      this  Section  7(c) for the same period as the delay in  registering  such
      other  securities;  provided,  however,  that  nothing  contained  in this
      Section 7(c) shall be deemed to relieve the Company  from its  obligations
      with respect to the Mandatory  Registration  required by Section 2 hereof.
      The Company shall include in such  registration  statement all or any part
      of such  Registrable  Securities  the  Holders  request to be  registered;
      provided,  however, that the Company shall not be required to register any
      Registrable Securities pursuant to this Section 7(c) that are eligible for
      sale pursuant to Rule 144(k) of the Securities  Act. In the case of a firm
      commitment underwritten public offering, if the managing underwriter(s) or
      underwriter(s)   should   reasonably   object  to  the  inclusion  of  the
      Registrable Securities in such registration statement, then if the Company
      after  consultation  with  the  managing   underwriter  should  reasonably
      determine  that  the  inclusion  of  such  Registrable  Securities,  would
      materially adversely affect the offering contemplated in such registration
      statement,  and based on such determination  recommends  inclusion in such
      registration  statement of fewer or none of the Registrable  Securities of
      the Holders, then (x) the number of Registrable  Securities of the Holders
      included in such  registration  statement shall be reduced  pro-rata among
      such Holders (based upon the number of Registrable Securities requested to
      be included in the  registration),  if the Company after consultation with
      the   underwriter(s)   recommends  the  inclusion  of  fewer   Registrable
      Securities, or (y) none of the Registrable Securities of the Holders shall
      be  included  in  such  registration   statement,  if  the  Company  after
      consultation with the  underwriter(s)  recommends the inclusion of none of
      such Registrable  Securities;  provided,  however,  that if Securities are
      being  offered for the account of other persons or entities as well as the
      Company,  such  reduction  shall not  represent a greater  fraction of the
      number of  Registrable  Securities  intended  to be offered by the Holders
      than the fraction of similar  reductions  imposed on such other persons or
      entities (other than the Company).

                                      -13-
<PAGE>

            (d)  Amendments  and  Waivers.  The  provisions  of this  Agreement,
      including the provisions of this sentence, may not be amended, modified or
      supplemented,  and waivers or consents to departures  from the  provisions
      hereof may not be given, unless the same shall be in writing and signed by
      the Company and the Holders of a majority of the Registrable Securities.

            (e)  Notices.  Any  and  all  notices  or  other  communications  or
      deliveries  required or  permitted  to be provided  hereunder  shall be in
      writing and shall be deemed given and  effective on the earlier of (i) the
      date of  transmission,  if such notice or  communication  is delivered via
      facsimile at the facsimile  telephone number specified for notice prior to
      5:00 p.m.,  New York time,  on a Business Day, (ii) the Business Day after
      the date of transmission, if such notice or communication is delivered via
      facsimile at the  facsimile  telephone  number  specified for notice later
      than 5:00 p.m.,  New York time,  on any date and earlier  than 11:59 p.m.,
      New York time, on such date,  (iii) the Business Day following the date of
      mailing,  if sent by nationally  recognized  overnight  courier service or
      (iv)  actual  receipt by the party to whom such  notice is  required to be
      given. The addresses for such communications shall be with respect to each
      Holder at its  address  set forth  under  its name on the  signature  page
      hereto or as  otherwise  provided to the  Company,  or with respect to the
      Company, addressed to:

                                    Chiste Corporation/HydroGen LLC
                                    1801 Route 51 South
                                    Jefferson Hills, PA  15025
                                    Attention:  Joshua Tosteson
                                    Telecopier:  (718) 398-5795
                                    Telephone:  (917) 306-5274

      or to such other  address or addresses  or facsimile  number or numbers as
      any such party may most recently  have  designated in writing to the other
      parties hereto by such notice.

            (f) Successors and Assigns. This Agreement shall be binding upon and
      inure to the  benefit of the parties and their  successors  and  permitted
      assigns and shall inure to the benefit of the Holders and their successors
      and permitted assigns.

            (g) Assignment of Registration  Rights.  Prior to the effective date
      of the initial  Registration  Statement  filed  pursuant to Section 2, the
      rights of the Holders  hereunder,  including the right to have the Company
      register for resale Registrable Securities in accordance with the terms of
      this  Agreement,  shall be  automatically  assignable by any Holder to any
      Affiliate  of the  Holder or any other  Holder or  Affiliate  of any other
      Holder of all or a  portion  of the  Registrable  Securities  if:  (i) the
      Holder  agrees in writing with the  transferee  or assignee to assign such
      rights,  and a copy of such agreement is furnished to the Company within a
      reasonable  time after such  assignment,  (ii) the  Company  is,  within a
      reasonable time after such transfer or assignment,  furnished with written
      notice of (a) the name and address of such transferee or assignee, and (b)
      the securities  with respect to which such  registration  rights are being
      transferred or assigned,  (iii)  following such transfer or assignment the

                                      -14-
<PAGE>

      further  disposition of such  securities by the transferee or assignees is
      restricted  under the Securities Act and applicable state securities laws,
      and (iv) at or before the time the Company  receives  the  written  notice
      contemplated  by clause (ii) of this Section,  the  transferee or assignee
      agrees in writing with the Company to be bound by all of the provisions of
      this  Agreement.  In addition,  each Holder shall have the right to assign
      its rights hereunder to any other Person with the prior written consent of
      the Company,  which consent shall not be unreasonably withheld. The rights
      to assignment  shall apply to the Holders (and to  subsequent)  successors
      and assigns.

            (h)  Counterparts.  This  Agreement may be executed in any number of
      counterparts,  each of which  when so  executed  shall be  deemed to be an
      original and, all of which taken  together  shall  constitute  one and the
      same Agreement.  In the event that any signature is delivered by facsimile
      transmission,  such signature  shall create a valid binding  obligation of
      the party  executing  (or on whose behalf such  signature is executed) the
      same with the same force and effect as if such  facsimile  signature  were
      the original thereof.

            (i) Governing Law. This Agreement shall be governed by and construed
      in accordance  with the laws of the State of New York,  without  regard to
      principles of conflicts of law thereof.

            (j) Cumulative Remedies. The remedies provided herein are cumulative
      and not exclusive of any remedies provided by law.

            (k) Severability. If any term, provision, covenant or restriction of
      this Agreement is held to be invalid,  illegal,  void or  unenforceable in
      any  respect,  the  remainder  of the  terms,  provisions,  covenants  and
      restrictions  set forth  herein  shall remain in full force and effect and
      shall in no way be  affected,  impaired  or  invalidated,  and the parties
      hereto  shall  use  their  reasonable   efforts  to  find  and  employ  an
      alternative  means to achieve the same or substantially the same result as
      that contemplated by such term, provision,  covenant or restriction. It is
      hereby  stipulated  and  declared to be the  intention of the parties that
      they would have executed the remaining  terms,  provisions,  covenants and
      restrictions  without including any of such that may be hereafter declared
      invalid, illegal, void or unenforceable.

            (l) Headings.  The headings herein are for convenience  only, do not
      constitute  a part of this  Agreement  and shall not be deemed to limit or
      affect any of the provisions hereof.

            (m)  Independent  Nature of Holders'  Obligations  and  Rights.  The
      obligations  of each Holder  hereunder  are several and not joint with the
      obligations  of any  other  Holder  hereunder,  and  no  Holder  shall  be
      responsible in any way for the performance of the obligations of any other
      Holder  hereunder.  Nothing  contained herein or in any other agreement or
      document  delivered and no action taken by any Holder  pursuant  hereto or
      thereto,  shall be deemed to constitute the Holders as a  partnership,  an
      association,  a joint  venture or any other  kind of  entity,  or create a
      presumption that the Holders are in any way acting in concert with respect
      to such  obligations or the  transactions  contemplated by this Agreement.
      Each Holder shall be entitled to protect and enforce its rights, including
      without limitation the rights arising out of this Agreement,  and it shall
      not be necessary for any other Holder to be joined as an additional  party
      in any proceeding for such purpose.

                                      -15-
<PAGE>

            (n) In the  event  that the  Mandatory  Conversion  (as such term is
      defined in the Certificate of Designation relating to the Preferred Stock)
      has not  occurred by July 7, 2006,  the  obligations  of the Company  with
      respect to the  registration  of the Shares  shall apply to the  Preferred
      Stock.

                            [SIGNATURE PAGE FOLLOWS]

                                      -16-
<PAGE>

      IN WITNESS  WHEREOF,  the parties  hereto have executed this  Registration
Rights  Agreement  effective  as of the  date  indicated  below  as the date the
Agreement is accepted by the Company.

                                      -17-
<PAGE>

                            CHISTE CORPORATION

                             By:  ______________________________________________
                             Name:  ____________________________________________
                             Title:  ___________________________________________

                             INVESTORS:

                             SBL FUND, SERIES J
                             By:  Security Management Company, LLC, as agent

                             By:  ______________________________________________
                             Name:  James P. Schier
                             Title:  Vice President & Sr. Portfolio Manager

                             One Security Benefit Plaza
                             Topeka, KS 66636

                             SECURITY MID CAP GROWTH FUND
                             By:  Security Management Company, LLC, as agent

                             By:  ______________________________________________
                             Name:  James P. Schier
                             Title:  Vice President & Sr. Portfolio Manager

                             One Security Benefit Plaza
                             Topeka, KS 66636

                         [REGISTRATION RIGHTS AGREEMENT]

                                      -18-
<PAGE>

                             SECURITY EQUITY FUND, MID CAP VALUES SERIES
                             By:  Security Management Company, LLC, as agent

                             By:  ______________________________________________
                             Name:  James P. Schier
                             Title:  Vice President & Sr. Portfolio Manager

                             One Security Benefit Plaza
                             Topeka, KS 66636

                             SBL FUND, SERIES V
                             By:  Security Management Company, LLC, as agent

                             By:  ______________________________________________
                             Name:  James P. Schier
                             Title:  Vice President & Sr. Portfolio Manager

                             One Security Benefit Plaza
                             Topeka, KS 66636

                         [REGISTRATION RIGHTS AGREEMENT]

                                      -19-

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