Document:

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                           PLACEMENT AGENCY AGREEMENT

         THIS PLACEMENT AGENCY AGREEMENT ("Agreement") is made as of this 12th
day of June, 2000, by and between JagNotes.com Inc., a Nevada Corporation
("Company"), and The May Davis Group, Inc., a Maryland corporation (the
"Agent").

                                   WITNESSETH:

         WHEREAS, the Company proposes to issue and sell, pursuant to the
Securities Purchase Agreement, Two Million Five Hundred Thousand Dollars
($2,500,000) of debentures (the "Debentures"), convertible into shares of common
stock, par value $0.00001 per share, of the Company (the "Securities"),
resulting in gross proceeds to the Company of $2,500,000 (the "Offering") in one
or more series of transactions outside of the U.S. to purchasers who are not
citizens or residents of the U.S., and not involving a public offering and
without registration under the Securities Act of 1933, as amended (the "Act"),
pursuant to one or more of the exemptions from the registration requirements of
the Act provided by Section 4(2), Rule 506 of Regulation D promulgated under the
Act ("Regulation D"), or Regulation S promulgated under the Act ("Regulation D")
as described below; and

         WHEREAS, the Company proposes to issue, pursuant to an Equity Line of
Credit Agreement, common stock resulting in gross proceeds to the Company of
$10,000,000 (the "Equity Credit Line Offering") in one or more series of
transactions outside of the U.S. to purchasers who are not citizens or residents
of the U.S., and not involving a public offering and without registration under
the Securities Act of 1933, as amended (the "Act"), pursuant to one or more of
the exemptions from the registration requirements of the Act, provided by
Section 4(2), Regulation D, or Regulation S as described below; and

         WHEREAS, the Agent is willing to assist the Company in placing the
Securities on a "best efforts basis" basis and the Company desires to secure the
services of the Agent on the terms and conditions hereinafter set forth;

         NOW, THEREFORE, in consideration of the premises and the mutual
promises, conditions and covenants herein contained, the parties hereto do
hereby agree as follows:

         1. Engagement of Agent. The Company hereby appoints the Agent as its
placement agent for the Offering pursuant to the Securities Purchase Agreement,
on a "best efforts" resulting in gross proceeds to the Company of $2,500,000
(the "Maximum Amount") and to issue up to $10,000,000 worth of the Company's
common stock pursuant to the Equity Line of Credit resulting in gross proceeds
to the Company of up to $10,000,000 Dollars. The Agent, on the basis of the
representations and warranties herein contained, but subject to the terms and
conditions herein set forth, accepts such appointment and agrees to use its
reasonable best efforts to find purchasers for the Securities. This appointment
shall be irrevocable for the period commencing as of the date hereof and ending
as further described in

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Section 8, which period may be extended by the consent of the Company and the
Agent (the "Offering Period").

         2. Representations and Warranties of the Company. In order to induce
the Agent to enter into this Agreement, the Company hereby represents and
warrants to and agrees with the Agent as follows:

                  2.1. Organization and Qualification. The Company and its
         subsidiaries are corporations duly organized and validly existing in
         good standing under the laws of the jurisdiction in which they are
         incorporated, and have the requisite corporate power to own their
         properties and to carry on their business as now being conducted. Each
         of the Company and its subsidiaries is duly qualified as a foreign
         corporation to do business and is in good standing in every
         jurisdiction in which the nature of the business conducted by it makes
         such qualification necessary, except to the extent that the failure to
         be so qualified or be in good standing would not have a material
         adverse effect on the Company and its subsidiaries taken as a whole.

                  2.2. Authorization, Enforcement, Compliance with Other
         Instruments. The Company has the requisite corporate power and
         authority to enter into and perform this Agreement. This Agreement has
         been duly authorized by the Company's Board of Directors and no further
         consent or authorization is required by the Company, its Board of
         Directors or its stockholders. This Agreement, constitutes the valid
         and binding obligations of the Company enforceable against the Company
         in accordance with its terms, except as such enforceability may be
         limited by general principles of equity or applicable bankruptcy,
         insolvency, reorganization, moratorium, liquidation or similar laws
         relating to, or affecting generally, the enforcement of creditors'
         rights and remedies.

                  2.3. No Conflicts. Except as disclosed in Schedule 2.3, the
         execution, delivery and performance of this Agreement by the Company
         and the consummation by the Company of the transactions contemplated
         hereby will not (i) result in a violation of the Certificate of
         Incorporation, any Certificate of Designations, Preferences, and Rights
         of any outstanding series of preferred stock of the Company or By-laws
         or (ii) conflict with or constitute a default (or an event which with
         notice or lapse of time or both would become a default) under, or give
         to others any rights of termination, amendment, acceleration or
         cancellation of, any agreement, indenture or instrument to which the
         Company or any of its subsidiaries is a party, or, to the best of the
         Company's knowledge, result in a violation of any law, rule,
         regulation, order, judgment or decree (including federal and state
         securities laws and regulations and the rules and regulations of The
         Nasdaq Stock Market, Inc.'s OTC Bulletin Board on which the common
         stock, $0.00001 par value per share, of the Company ("Common Stock") is
         quoted) applicable to the Company or any of its subsidiaries or by
         which any property or asset of the Company or any of its subsidiaries
         is bound or affected. Except as disclosed in Schedule 2.3, neither the
         Company nor its subsidiaries is in violation of any term of or in
         default under its Certificate of Incorporation or By-laws

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         or their organizational charter or by-laws, respectively, or any
         material contract, agreement, mortgage, indebtedness, indenture,
         instrument, judgment, decree or order or any statute, rule or
         regulation applicable to the Company or its subsidiaries. To the best
         knowledge of the Company, the business of the Company and its
         subsidiaries is not being conducted, and the Company shall use its best
         efforts to assure that it shall not be conducted in violation of any
         law, ordinance, regulation of any governmental entity. Except as
         specifically contemplated by this Agreement and as required under the
         Act and any applicable state securities laws, the Company is not
         required to obtain any consent, authorization or order of, or make any
         filing or registration with, any court or governmental agency in order
         for it to execute, deliver or perform any of its obligations under or
         contemplated by this Agreement in accordance with the terms hereof or
         thereof. Except as disclosed in Schedule 2.3, all consents,
         authorizations, orders, filings and registrations which the Company is
         required to obtain pursuant to the preceding sentence have been
         obtained or effected on or prior to the date hereof. The Company and
         its subsidiaries are unaware of any facts or circumstances, which might
         give rise to any of the foregoing.

                  2.4. SEC Documents: Financial Statements. Since January 5,
         2000, the Company has filed all reports, schedules, forms, statements
         and other documents required to be filed by it with the Securities and
         Exchange Commission ("SEC") pursuant to the reporting requirements of
         the Securities Exchange Act of 1934, as amended (the "1934 Act") (all
         of the foregoing filed prior to the date hereof and all exhibits
         included therein and financial statements and schedules thereto and
         documents incorporated by reference therein, being hereinafter referred
         to as the "SEC Documents"). The Company has delivered to the Agent or
         its representative, or made available through the SEC's electronic web
         site located at http://www.sec.gov, true and complete copies of the SEC
         Documents. As of their respective dates, the financial statements of
         the Company disclosed in the SEC Documents (the "Financial Statements")
         complied as to form in all material respects with applicable accounting
         requirements and the published rules and regulations of the SEC with
         respect thereto. Such financial statements have been prepared in
         accordance with generally accepted accounting principles, consistently
         applied, during the periods involved (except (i) as may be otherwise
         indicated in such financial statements or the notes thereto, or (ii) in
         the case of un-audited interim statements, to the extent they may
         exclude footnotes or may be condensed or summary statements) and fairly
         present in all material respects the financial position of the Company
         as of the dates thereof and the results of its operations and cash
         flows for the periods then ended (subject, in the case of un-audited
         statements, to normal year-end audit adjustments). No other information
         provided by or on behalf of the Company to the Buyer which is not
         included in the SEC Documents, including, without limitation,
         information referred to in Section 2.6 of this Agreement, contains any
         untrue statement of a material fact or omits to state any material fact
         necessary in order to make the statements therein, in the light of the
         circumstance under which they are or were made, not misleading.

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                  2.5. Absence of Litigation. Except as disclosed on Schedule
         2.5, there is no action, suit, proceeding, inquiry or investigation
         before or by any court, public board, government agency,
         self-regulatory organization or body pending or, to the knowledge of
         the Company or any of its subsidiaries, threatened against or affecting
         the Company, the Common Stock or any of the Company's subsidiaries,
         wherein an unfavorable decision, ruling or finding would (i) have a
         material adverse effect on the transactions contemplated hereby (ii)
         adversely affect the validity or enforceability of, or the authority or
         ability of the Company to perform its obligations under, this Agreement
         or any of the documents contemplated herein or (iii) except as
         expressly disclosed in the SEC Documents, have a material adverse
         effect on the business, operations, properties, financial condition or
         results of operation of the Company and its subsidiaries taken as a
         whole.

                  2.6. No Materially Adverse Contracts, Etc. Except as set forth
         in the SEC Documents, neither the Company nor any of its subsidiaries
         is subject to any charter, corporate or other legal restriction, or any
         judgment, decree, order, rule or regulation which in the judgment of
         the Company's officers has or is expected in the future to have a
         material adverse effect on the business, properties, operations,
         financial condition, results of operations or prospects of the Company
         or its subsidiaries. Neither the Company nor any of its subsidiaries is
         a party to any contract or agreement which in the judgment of the
         Company's officers has or is expected to have a material adverse effect
         on the business, properties, operations, financial condition, results
         of operations or prospects of the Company or its subsidiaries.

         3.       Issue, Sale and Delivery of the Securities.

                  3.1. Deliveries of Securities. Certificates in such form,
         subject to applicable transfer restrictions as described in the
         Securities Purchase Agreement proposed to be entered into between the
         Company and Investors ("Purchase Agreement"), and warrants representing
         the Agent's warrant compensation described in Section 3.4(b) below
         ("Warrants"), shall be delivered by the Company to counsel to the
         Agent, with copies made available to the Agent for checking at least
         one (1) full business day prior to the Closing Date, it being
         understood that the directions from the Agent to the Company shall be
         given at least two (2) full business days prior to the Closing Date.
         The certificates for the Securities and the Warrants shall be delivered
         at the Closing (as hereinafter defined).

                  3.2. Escrow of Funds. Pending Closing purchasers shall place
         all funds for purchase of Securities, less the fees and expenses of the
         Agent and its counsel, in an escrow account with an escrow agent to be
         designated by the Company and the Placement Agent ("Escrow Agent") and
         as set up by the Company in accordance with the terms of an escrow
         agreement between the Company, the Agent and the Escrow Agent. The
         Company shall have the right to approve or object to the subscriptions
         of any purchaser. At such time as purchasers purchasing the Debentures
         have delivered to the Agent a signed Purchase Agreement, and provided
         those purchasers have been

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         approved by the Company and all other Closing conditions have been met,
         Escrow Agent shall release the subscription funds to the Company and
         the Company shall release the certificates representing the Securities
         to the subscribers (the "Closing"). In the event the Closing is not
         held on or before June 12, 2000, all subscription proceeds shall be
         immediately returned to purchasers without deduction or charge by the
         Escrow Agent.

                  3.3. Closing Date. The Closing shall take place at the offices
         of Butler Gonzalez, L.L.P., 1000 Stuyvesant Avenue, Suite 6, Union, New
         Jersey 07083 at such time and date ("Closing Date") as will be fixed
         either orally or in writing by notice to be given by the Agent to the
         Company after consultation with the Company, such Closing Date to be
         not less than one (1) full business day after the date on which such
         notice shall have been given. The Closing Date may be changed by mutual
         written agreement of the Agent and the Company.

                  3.4. Agent's Compensation. The Company shall pay the Agent:

                           (a) A commission of Three Percent (3%) of the gross
                  subscription proceeds received by the Company, pursuant to the
                  sale of the Debentures, pursuant to the Securities Purchase
                  Agreement at the Closing to be paid in cash or Common Stock of
                  the Company as determined by the Agent (the "Gross Proceeds");
                  and a commission of Three Percent (3%) of the gross proceeds
                  received by the Company, pursuant to the issuance of commons
                  stock of the company, pursuant to the Equity Line of Credit
                  Agreement at each Closing to be paid in cash or Common Stock
                  of the Company as determined by the Agent (the "Gross
                  Proceeds"); and

         3.5.     Payment of Fees. The Escrow Agent shall be instructed to: The
                  Escrow Agent shall be instructed to:

                  (a)      Pay the Placement Agent's fees and all of the
                           reasonable legal, administrative, and escrow fees,
                           associated with the sale of the Debentures, of The
                           May Davis Group, Inc.'s counsel, Butler Gonzalez,
                           LLP, in the amount of Thirty Five Thousand Dollars
                           ($35,000), directly to the Agent's counsel from the
                           proceeds of the sale of the Debentures simultaneous
                           with the transfer of proceeds to the Company.
                           Subsequently on each advance date pursuant to the
                           Equity Line of Credit Agreement, the Company will pay
                           Butler Gonzalez, LLP, the sum of One Thousand Five
                           Hundred ($1,500) Dollars for legal, administrative,
                           and escrow fees.

                  (b)      In addition to the fees and reimbursement of costs
                           set forth in Sections 3.5 of this Agreement, upon
                           closing with respect to the sale of the Debentures at
                           the Closing, the Company shall issue to the Butler
                           Gonzalez, LLP., and/or its assignees warrants to
                           purchase twenty five thousand (25,000) shares of

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                           the Company's Common Stock. Such warrants shall be
                           exercisable at a price of $2.00. The Warrants shall
                           have cashless exercise provisions. The term of the
                           Warrants shall be five years. The Warrants and the
                           shares of Common Stock issuable upon exercise of the
                           Warrants shall have registration rights as described
                           in the Registration Rights Agreement, it being
                           understood that, if the SEC requires removal of the
                           Warrants from any registration statement in which the
                           Warrants have a right by contract to be included, the
                           removal of the Warrants shall not constitute a breach
                           of contract by the Company, and the Company will use
                           best efforts to include the Warrants (or underlying
                           shares) in a registration statement in a manner
                           acceptable to the SEC. Except as set forth in the
                           immediately preceding sentence, it is specifically
                           understood by the Company that the Company must
                           register the Shares underlying the Warrants for the
                           Agent in the same registration statement described in
                           the Registration Rights Agreements between the
                           Company and purchasers and contemplated by the
                           Purchase Agreement. The Warrants shall be delivered
                           by the Company to the Butler Gonzalez, LLP
                           simultaneous with and contingent upon a Closing with
                           respect to the Maximum Amount.

         4.       Offering of the Securities on Behalf of the Company.

                  4.1. In offering the Securities for sale, the Agent shall
         offer them solely as an agent for the Company, and such offer shall be
         made upon the terms and subject to the conditions set forth in the
         Purchase Agreement and Equity Line of Credit Agreement. The Agent shall
         commence making such offer as an agent for the Company as soon as
         possible following delivery of the Purchase Agreement.

                  4.2. The Agent will not make offers to sell the Securities to,
         or solicit offers to subscribe for any Securities from, persons or
         entities that are not "accredited investors" as defined in Regulation
         D.

         5.       Non-Circumvention. The Company hereby agrees as follows:

                  5.1. The Company agrees to maintain the confidentiality of the
         Agent's clients, except as required by applicable law. Such clients
         shall be those entities, which invest or have been offered an
         opportunity to invest by the Agent in the Offering (the "Clients"). For
         a period of two years from the Closing, the Company will not solicit or
         enter into any financing transaction with the Clients without the
         written consent of Agent and payment to Agent compensation no less than
         the compensation to be paid to Agent hereunder for raising a like
         amount.

                  5.2. In the event that Company breaches Section 5.1 of this
         Agreement, Agent shall be entitled to receive compensation in the same
         proportion to the financing done without Agent's participation as the
         compensation to Agent under this Agreement bears to the financing
         raised in this Offering.

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         6.       Covenants of the Company. The Company covenants and agrees
with the Agent that:

                  6.1. After the date hereof, the Company will not at any time,
         prepare and distribute any amendment or supplement to the Purchase
         Agreement, of which amendment the Agent shall not previously have been
         advised and the Agent and its counsel furnished with a copy within a
         reasonable time period prior to the proposed adoption thereof, or to
         which the Agent shall have reasonable objected in writing on the ground
         that it is not in compliance with the Act or the Rules and Regulations
         under the Act (if applicable).

                  6.2. The Company will pay, whether or not the transactions
         contemplated hereunder are consummated or this Agreement is prevented
         from becoming effective or is terminated, all costs and expenses
         incident to the performance of its obligations under this Agreement,
         including all expenses incident to the authorization of the Securities
         and their issue and delivery to the purchasers, any original issue
         taxes in connection therewith, all transfer taxes, if any, incident to
         the initial sale of the Securities, the fees and expenses of the
         Company's counsel and Agent's counsel as set forth in Section 3.5
         (except as provided below) and accountants, the cost of reproduction
         and furnishing to the Agent copies of the Purchase Agreement as herein
         provided.

                  6.3 Prior to the Closing Date, and during the normal business
         hours, the Company will cooperate with the Agent in such investigation
         as it may make or cause to be made of all of the properties, business
         and operations of the Company in connection with the Offering of the
         Securities. The Company will make available to it in connection
         therewith such information in its possession as the Agent may
         reasonably request and will make available to the Agent such persons as
         the Agent shall deem reasonably necessary and appropriate in order to
         verify or substantiate any such information so supplied.

                  6.4 The Company shall be responsible for making any and all
         filings required by the Blue Sky authorities and filings required by
         the laws of the jurisdictions in which the purchasers who are accepted
         for purchase of Securities are located, if any. Agent shall assist
         Company in this respect, but such filings shall be the responsibility
         of Company.

                  6.5 Corporation Condition. The Company's condition is as
         described in the Purchase Agreement and the SEC Documents referred to
         therein, except for changes in the ordinary course of business and
         normal year-end adjustments that are not individually or in the
         aggregate materially adverse to the Company.

                  6.6 No Material Adverse Change. Except as may be reflected in
         or contemplated by the Purchase Agreement prior to the Closing, there
         shall not have

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         been any material adverse change in the condition, financial, or
         otherwise, or in the results of operations of the Company or in its
         business taken as a whole.

         7.       Indemnification.

                  7.1. The Company agrees to indemnify and hold harmless the
         Agent, each person who controls the Agent within the meaning of Section
         15 of the Act and the Agent's employees, accountants, attorneys and
         agents (the "Agent's Indemnitees") against any and all losses, claims,
         damages or liabilities, joint or several, to which they or any of them
         may become subject under the Act or any other statute or at common law
         for any legal or other expenses (including the costs of any
         investigation and preparation) incurred by them in connection with any
         litigation, whether or not resulting in any liability, but only insofar
         as such losses, claims, damages, liabilities and litigation arise out
         of or are based upon any untrue statement of material fact contained in
         the Purchase Agreement or any amendment thereto or any application or
         other document filed in any state or jurisdiction in order to qualify
         the Securities under the Blue Sky or securities laws thereof, or the
         omission to state therein a material fact required to be stated therein
         or necessary to make the statements therein, under the circumstances
         under which they were made, not misleading, all as of the date of the
         Purchase Agreement or of such amendment as the case may be; provided,
         however, that the indemnity agreement contained in this Section 7.1
         shall not apply to amounts paid in settlement of any such litigation,
         if such settlements are made without the consent of the Company, nor
         shall it apply to the Agent's Indemnitees in respect to any such
         losses, claims, damages or liabilities arising out of or based upon any
         such untrue statement or any such omission, if such statement or
         omission was made solely in reliance upon information furnished in
         writing to the Company by the Agent specifically for use in connection
         with the preparation of the Purchase Agreement or any such amendment
         thereto or any application or other document filed in any state or
         jurisdiction in order to qualify the Securities under the Blue Sky or
         securities law thereof. This indemnity agreement is in addition to any
         other liability, which the Company may otherwise have to the Agent's
         Indemnitees. The Agent's Indemnitees agree, within ten (10) days after
         the receipt by them of written notice of the commencement of any action
         against them in respect to which indemnity may be sought from the
         Company under this Section 7.1, to notify the Company in writing of the
         commencement of such action; provided, however, that the failure of the
         Agent's Indemnitees to notify the Company of any such action shall not
         relieve the Company from any liability which it may have to the Agent's
         Indemnitees on account of the indemnity agreement contained in this
         Section 7.1, and further shall not relieve the Company from any other
         liability which it may have to the Agent's Indemnitees, and if the
         Agent's Indemnitees shall notify the Company of the commencement
         thereof, the Company shall be entitled to participate in (and, to the
         extent that the Company shall wish, to direct) the defense thereof at
         its own expense, but such defense shall be conducted by counsel of
         recognized standing and reasonably satisfactory to the Agent's
         Indemnitees, defendant or defendants, in such litigation. The Company
         agrees to notify the Agent's Indemnitees promptly of the commencement
         of any litigation or

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         proceedings against the Company or any of the Company's officers or
         directors of which the Company may be advised in connection with the
         issue and sale of any of the Securities and to furnish to the Agent's
         Indemnitees, at their request, to provide copies of all pleadings
         therein and to permit the Company's Indemnitees to be observers therein
         and apprise the Agent's Indemnitees of all developments therein, all at
         the Company's expense.

                  7.2. The Agent agrees, in the same manner and to the same
         extent as set forth in Section 7.1 above, to indemnify and hold
         harmless the Company, and the Company's employees, accountants,
         attorneys and agents (the "Company's Indemnitees") with respect to (i)
         any statement in or omission from the Purchase Agreement or any
         amendment thereto or any application or other document filed in any
         state or jurisdiction in order to qualify the Securities under the Blue
         Sky or securities laws thereof, or any information furnished pursuant
         to Section 3.4 hereof, if such statement or omission was made solely in
         reliance upon information furnished in writing to the Company by the
         Agent on its behalf specifically for use in connection with the
         preparation thereof or supplement thereto, or (ii) any untrue statement
         of a material fact made by the Agent or its agents not based on
         statements in the Purchase Agreement or authorized in writing by the
         Company, or with respect to any misleading statement made by the Agent
         or its agents resulting from the omission of material facts which
         misleading statement is not based upon the Purchase Agreement, or
         information furnished in writing by the Company or, (iii) any breach of
         any representation, warranty or covenant made by the Agent in this
         Agreement. The Agent's liability hereunder shall be limited to the
         amount received by it for acting as Agent in connection with the
         Offering. The Agent shall not be liable for amounts paid in settlement
         of any such litigation if such settlement was effected without its
         consent. In case of the commencement of any action in respect of which
         indemnity may be sought from the Agent, the Company's Indemnitees shall
         have the same obligation to give notice as set forth in Section 7.1
         above, subject to the same loss of indemnity in the event such notice
         is not given, and the Agent shall have the same right to participate in
         (and, to the extent that it shall wish, to direct) the defense of such
         action at its own expense, but such defense shall be conducted by
         counsel of recognized standing reasonably satisfactory to the Company.
         The Agent agrees to notify the Company's Indemnitees and, at their
         request, to provide copies of ail pleadings therein and to permit the
         Company's Indemnitees to be observers therein and apprise them of all
         the developments therein, all at the Agent's expense.

         8. Effectiveness of Agreement. This Agreement shall become effective
upon the date of the execution hereof and shall remain in full force and effect
until June 12 , 2000, or until the Closing, if earlier.

         9. Conditions of the Agent's Obligations. The Agent's obligations to
act as agent of the Company hereunder and to find purchasers for the Securities
shall be subject to the accuracy, as of the Closing Date, of the representations
and warranties on the part of the

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Company herein contained, to the fulfillment of or compliance by the Company
with all covenants and conditions hereof, and to the following additional
conditions:

                  9.l. Counsel to the Agent shall not have objected in writing
         or shall not have failed to give his consent to the Purchase Agreement
         (which objection or failure to give consent shall not have been done
         unreasonably).

                  9.2. The Agent shall not have disclosed to the Company that
         the Purchase Agreement, or any amendment thereof, contains an untrue
         statement of fact, which, in the opinion of counsel to the Agent, is
         material, or omits to state a fact, which, in the opinion of such
         counsel, is material and is required to be stated therein, or is
         necessary to make the statements therein, under the circumstances in
         which they were made, not misleading.

                  9.3. Between the date hereof and the Closing Date, the Company
         shall not have sustained any loss on account of fire, explosion, flood,
         accident, calamity or any other cause of such character as would
         materially adversely affect its business or property considered as an
         entire entity, whether or not such loss is covered by insurance.

                  9.4. Between the date hereof and the Closing Date, there shall
         be no litigation instituted or threatened against the Company, and
         there shall be no proceeding instituted or threatened against the
         Company before or by any federal or state commission, regulatory body
         or administrative agency or other governmental body, domestic or
         foreign, wherein an unfavorable ruling, decision or finding would
         materially adversely affect the business, franchises, license, permits,
         operations or financial condition or income of the Company.

                  9.5. Except as contemplated herein or as set forth in the
         Purchase Agreement, during the period subsequent to the most recent
         financial statements referred to in the Purchase Agreement, if any, and
         prior to the Closing Date, the Company (i) shall have conducted its
         business in the usual and ordinary manner as the same is being
         conducted as of the date hereof and (ii) except in the ordinary course
         of business, the Company shall not have incurred any liabilities or
         obligations (direct or contingent) or disposed of any assets, or
         entered into any material transaction or suffered or experienced any
         substantially adverse change in its condition, financial or otherwise.
         At the Closing Date, the equity account of the Company shall be
         substantially the same as reflected in the most recent balance sheet
         referred to in the Purchase Agreement without considering the proceeds
         from the sale of the Securities.

                  9.6. The authorization of the Securities by the Company and
         all proceedings and other legal matters incident thereto and to this
         Agreement shall be reasonably satisfactory in all respects to counsel
         to the Agent, who shall have furnished the Agent on the Closing Date
         with such favorable opinion with respect to the sufficiency of all
         corporate proceedings and other legal matters relating to this
         Agreement as the Agent

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         may reasonably require, and the Company shall have furnished such
         counsel such documents as he may have requested to enable him to pass
         upon the matters referred to in this subparagraph.

                  9.7. The Company shall have furnished to the Agent the
         opinion, dated the Closing Date, addressed to the Agent, from counsel
         to the Company, as required by the Purchase Agreement.

                  9.8. The Company shall have furnished to the Agent a
         certificate of the Chief Executive Officer and the Chief Financial
         Officer of the Company, dated as of the Closing Date, to the effect
         that:

                  (i) the representations and warranties of the Company in this
            Agreement are true and correct in all material respects at and as of
            the Closing Date (other than representations and warranties which by
            their terms are specifically limited to a date other than the
            Closing Date), and the Company has complied with all the agreements
            and has satisfied all the conditions on its part to be performed or
            satisfied at or prior to the Closing Date; and

                  (ii) the respective signers have each carefully examined the
            Purchase Agreement, and any amendments thereto, and, to the best of
            their knowledge, all statements contained in the Purchase Agreement
            are true and correct, and neither the Purchase Agreement, nor any
            amendment thereto, includes any untrue statement of a material fact
            or omits to state a material fact required to be stated therein or
            necessary to make the statements therein, under the circumstances in
            which they were made, not misleading; except as set forth in the
            Purchase Agreement, since the respective dates as of which or the
            periods for which the information is given in the Purchase Agreement
            and prior to the date of such certificate, (a) there has not been
            any substantially adverse change, financial and otherwise, in the
            affairs of condition in the Company, and (b) the Company has not
            incurred any material liabilities, direct or contingent, or entered
            into any material transactions, otherwise than in the ordinary
            course of business.

         10.      Termination.

                  10.1. This Agreement may be terminated by the Agent by written
         notice to the Company in the event that the Company shall have failed
         or been unable to comply with any of the terms, conditions or
         provisions of this Agreement on the part of the Company to be
         performed, complied with or fulfilled within the respective times, if
         any, herein provided for, unless compliance therewith or performance or
         satisfaction thereof shall have been expressly waived by the Agent in
         writing.

                  10.2. This Agreement may be terminated by the Company by
         written notice to the Agent in the event that the Agent shall have
         failed or been unable to comply with

                                       11
<PAGE>

         any of the terms, conditions or provisions of this Agreement on the
         part of the Agent to be performed, complied with or fulfilled within
         the respective times, if any, herein provided for, unless compliance
         therewith or performance or satisfaction thereof shall have been
         expressly waived by the Company in writing.

                  10.3. Any termination of this Agreement pursuant to this
         Section shall be without liability of any character (including, but not
         limited to, loss of anticipated profits or consequential damages) on
         the part of any party thereto, except that the Company shall remain
         obligated to pay the costs and expenses provided to be paid by it
         specified in Sections 3.5; and the Company and the Agent shall be
         obligated to pay, respectively, all losses, claims, damages or
         liabilities, joint or several, under Section 7.1 in the case of the
         Company and Section 7.2 in the case of the Agent.

         11. Agent's Representations, Warranties, and Covenants. The Agent
represents and warrants to and agrees with the Company that:

                  11.1. Agent is a corporation duly incorporated and existing
         under the laws Canada. Agent is not registered with the Securities
         Exchange Commission and is not a member. The Agent will not offer the
         securities in the U.S. or to citizens or residents of the U.S.

                  11.2. Agent understands and acknowledges that the Securities
         are not being registered under the Act, and that the Offering is to be
         conducted pursuant to Regulation D, Section 4(2) of the Act, or
         Regulation S, and that the Company is not making the disclosures
         required for offerings to purchasers other than accredited investors.
         Accordingly, in conducting its activities under this Agreement, Agent
         shall offer Securities only to "accredited investors," as defined in
         Regulation D.

                  11.4. All corporate actions by Agent required for the
         execution, delivery and performance of this Agreement have been taken.
         The execution and delivery of this Agreement by the Agent, the
         observance and performance thereof, and the consummation of the
         transactions contemplated herein or in the Purchase Agreement do not
         and will not constitute a material breach of, or a material default
         under, any instrument or agreement by which the Agent is bound, and
         does not and will not, to the best of the Agent's knowledge, contravene
         any existing law, decree or order applicable to it. This Agreement
         constitutes a valid and binding agreement of Agent, enforceable in
         accordance with its terms.

                  11.5. Agent's representations and warranties under this
         Section shall be true and correct as of the Closing, and shall survive
         the Closing for a period of six months.

         12. Notices. Except as otherwise expressly provided in this Agreement:

                  12.1. Whenever notice is required by the provisions of this
         Agreement to be given to the Company, such notice shall be in writing,
         addressed to the Company, at:

                                       12
<PAGE>

                  If to Company:    JagNotes.com, Inc.
                                    1415 Wyckoff Road 2nd Floor
                                    Farmingdale, NJ  07727
                                    Attention: Gary Valinoti, President and CEO

                  with a copy to:   Morgan, Lewis & Bockius LLP
                                    101 Park Avenue
                                    New York, NY  10178
                                    Attention: W. Preston Tollinger, Esq.
                                               Ken Regensburg, Esq.

                  12.2. Whenever notice is required by the provisions of this
         Agreement to be given to the Agent, such notice shall be given in
         writing, addressed to the Agent, at:

                  If to the Agent:  May Davis Group, Inc.
                                    1 World Trade Center
                                    New York, NY 10048
                                    Attention: Michael Jacobs

                  with copy to:     Butler Gonzalez, L.L.P.
                                    1000 Stuyvesant Avenue
                                    Suite #6
                                    Union, New Jersey 07083
                                    Attention:  David Gonzalez, Esq.

                  12.3. Any notice instructing the Escrow Agent to distribute
         monies or Securities held in Escrow must be signed by authorized agents
         of both the Company and the Agent in order to be valid.

         13.      Miscellaneous.

                  13.1. Benefit. This Agreement is made solely for the benefit
         of the Agent and the Company, their respective officers and directors
         and any controlling person referred to in Section 15 of the Act and
         their respective successors and assigns, and no other person may
         acquire or have any right under or by virtue of this Agreement,
         including, without limitation, the holders of any Securities. The term
         "successor" or the term "successors and assigns" as used in this
         Agreement shall not include any purchasers, as such, of any of the
         Securities.

                  13.2. Survival. The respective indemnities, agreements,
         representations, warranties, covenants and other statements of the
         Company and the Agent, or the officers, directors or controlling
         persons of the Company and the Agent as set forth in

                                       13
<PAGE>

         or made pursuant to this Agreement and the indemnity agreements of the
         Company and the Agent contained in Section 7 hereof shall survive and
         remain in full force and effect, regardless of (i) any investigation
         made by or on behalf of the Company or the Agent or any such officer,
         director or controlling person of the Company or of the Agent; (ii)
         delivery of or payment for the Securities; or (iii) the Closing Date,
         and any successor of the Company or the Agent or any controlling
         person, officer or director thereof, as the case may be, shall be
         entitled to the benefits hereof.

                  13.3. Governing Law. The validity, interpretation, and
         construction of this Agreement will be governed by the laws of the
         State of New York. The parties further agree that any action between
         them shall be heard in New York County, New York, and expressly consent
         to the jurisdiction and venue of the Supreme Court of New York County,
         New York, and the United States District Court for the Southern
         District of New York for the adjudication of any civil action asserted
         pursuant to this Paragraph.

                  13.4. Counterparts. This Agreement may be executed in any
         number of counterparts, each of which may be deemed an original and all
         of which together will constitute one and the same instrument.

                  13.5. Confidential Information. All confidential financial or
         business information (except publicly available or freely usable
         material otherwise obtained from another source) respecting either
         party will be used solely by the other party in connection with the
         within transactions, be revealed only to employees or contractors of
         such other party who are necessary to the conduct of such transactions,
         and be otherwise held in strict confidence.

                  13.6. Public Announcements. Prior to the Closing Date, neither
         party hereto will issue any public announcement concerning the within
         transactions without the approval of the other party, except as may be
         required by applicable securities or other laws.

                  13.7. Finders. The parties acknowledge that no person has
         acted as a finder in connection with the transactions contemplated
         herein and each will agree to indemnify the other with respect to any
         other claim for a finder's fee in connection with the offering.

                  13.8. Financial Advisers. The parties acknowledge that the
         Company has or may retain financial and other advisers in connection
         with this transaction (the "Advisers"), and the Company agrees to
         indemnify and hold the Placement Agent harmless for any fees and
         expenses of the Advisers.

                  13.9. Recitals. The recitals to this Agreement are a material
         part hereof, and each recital is incorporated into this Agreement by
         reference and made a part of this Agreement.

                                       14

<PAGE>

                  13.10. Entire Agreement. This Agreement constitutes the entire
         agreement between the parties with regard to the subject matter hereof
         and supersedes all prior agreements or understandings between the
         parties.

                    [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       15
<PAGE>

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

                                    JAGNOTES.COM INC.

                                    By:    /s/ Stephen Schoepfer
                                           ------------------------------------
                                    Name:  Stephen Schoepfer
                                    Title: Chief Operating Officer

                                    THE MAY DAVIS GROUP, INC.

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

                                       16
<PAGE>

                                    SCHEDULE 2.3

                                    No Conflicts

                                        None

                                       17
<PAGE>

                                  SCHEDULE 2.5

                                   Litigation

                                      None

                                       18<PAGE>

                 THIS AGREEMENT made as of the 1st day of June, 2000.

                 BETWEEN: FOREST GLADE PROPERTIES INC.

                 AND:                 WAYNE LOFTUS, GIL RAHIER HOLDINGS LTD.,
                                      FRANK DENIS & MICHAEL JENKS

                       -----------------------------------
                            SHARE TRANSFER AGREEMENT
                       -----------------------------------

                                 JAMES A. MOONEY
                              Barrister & Solicitor
                                1033 - 3rd Avenue
                               Prince George, B.C.
                                V2L 3E3 562-3324

                                 File No. 23908

<PAGE>

THIS AGREEMENT made as of the 1st day of June, 2000.

BETWEEN:

                          FOREST GLADE PROPERTIES INC.

                    (hereinafter referred to as "the Vendor")

                                                             OF THE FIRST PART
AND:
               WAYNE LOFTUS, GIL RAHIER HOLDINGS LTD., FRANK DENIS
               AND MICHAEL JENKS

        (hereinafter referred to as "the Purchaser")

                                                          OF THE SECOND PART

         WHEREAS the Vendor has agreed to sell to the Purchaser and the
Purchaser has agreed to purchase from the Vendor 100 shares (hereinafter
referred to as the Shares) in the capital stock of 514592 B.C. Ltd. (hereinafter
referred to as the Company).

         NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the
premises and the sum of ONE DOLLAR ($1.00) and other good and valuable
consideration now paid by the Purchaser to the Vendor (the receipt and
sufficiency whereof is hereby acknowledged) the parties hereto agree as follows:

1.       The Purchaser hereby purchases the Shares from the Vendor and the
Vendor hereby sells the Shares to the Purchaser.

2.       The Vendor represents and warrants to the Purchaser as follows:

         (a)      The Shares are validly issued and outstanding as fully paid
                  and non-assessable shares in the capital stock of the
                  Company;

<PAGE>

         (b)      The Shares are free and clear of all liens, charges and
                  encumbrances;
         (c)      The Vendor is not indebted to the Company;
         (d)      The Company is not indebted to the Vendor;
         (e)      The Vendor has good and sufficient right and authority to
                  enter into this Agreement on the terms herein set forth, and
                  to transfer the legal and beneficial title and ownership of
                  the Shares to the Purchaser.

3.       The Vendor agrees to execute and deliver, or cause to be executed and
         delivered, all such further documents and instruments, and to do or
         cause to be done, all such acts and things as the Purchaser may
         reasonably require to carry out the full intent and meaning of this
         Agreement.

4.       This Agreement shall enure to the benefit of and be binding upon the
         parties hereto and their respective heirs, executors, administrators,
         successors and assigns.

         IN WITNESS WHEREOF this Agreement has been executed by the parties as
follows:

SIGNED, SEALED AND DELIVERED
By the Vendor
On the 1st day of June
2000, in the presence of

/s/ Wayne Loftus
------------------------
Authorized Signatory

<PAGE>

SIGNED SEALED AND DELIVERED by the Purchaser
On the 1st day of June, 2000

                                              /s/ Frank Denis
                                              -----------------------------
                                              Frank Denis

                                              /s/ Wayne Loftus
                                              -----------------------------
                                              Wayne Loftus

                                              /s/ Gil Rahier
                                              ---------------------------------
                                              GIL RAHIER HOLDINGS LTD. by
                                              Its authorized signatory

                                              /s/ Michael Jenks
                                              ---------------------------------
                                              Michael Jenks

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