Document:

Guaranty, dated June 29, 2007

 Exhibit 10.49 
 GUARANTY 
  

			
	New York, New York	  	June 29, 2007

 FOR VALUE RECEIVED, and in consideration of note purchases from, loans made or to be made or
credit otherwise extended or to be extended by Laurus Master Fund, Ltd. (“Laurus”) to or for the account of Latin Node, Inc., a Florida corporation, Latin Node LLC, a Florida limited liability company, Latinode Communications Corporation,
a Florida corporation, Nsite Software, LLC, a Florida limited liability company, Tropical Star Communications, Inc., a Florida corporation, TS Telecommunications, Inc., a Florida corporation and Total Solutions Telecom Inc., a Florida corporation
(each a “Debtor”, collectively, “Debtors”), from time to time and at any time and for other good and valuable consideration and to induce Laurus, in its discretion, to purchase such notes, make such loans or other extensions of
credit and to make or grant such renewals, extensions, releases of collateral or relinquishments of legal rights as Laurus may deem advisable, each of the undersigned (and each of them if more than one, the liability under this Guaranty being joint
and several) (jointly and severally referred to as “Guarantors” or “the undersigned”) unconditionally guaranties to Laurus, its successors, endorsees and assigns the prompt payment when due (whether by acceleration or otherwise)
of all present and future obligations and liabilities of any and all kinds of Debtors to Laurus and of all instruments of any nature evidencing or relating to any such obligations and liabilities upon which any Debtor or one or more parties and any
Debtor is or may become liable to Laurus, whether incurred by any Debtor as maker, endorser, drawer, acceptor, guarantors, accommodation party or otherwise, and whether due or to become due, secured or unsecured, absolute or contingent, joint or
several, and however or whenever acquired by Laurus, arising under, out of, or in connection with (i) that certain Security Agreement dated as of the date hereof by and among the Debtors, Elandia, Inc., a Delaware corporation and Laurus (the
“Security Agreement”) and (ii) each Ancillary Agreement referred to in the Security Agreement, as each may be amended, modified, restated or supplemented from time to time, are collectively referred to herein as the
“Documents”), or any documents, instruments or agreements relating to or executed in connection with the Documents or any documents, instruments or agreements referred to therein, or any other indebtedness, obligations or liabilities of
Debtors to Laurus, whether now existing or hereafter arising, direct or indirect, liquidated or unliquidated, absolute or contingent, due or not due and whether under, pursuant to or evidenced by a note, agreement, guaranty, instrument or otherwise
(all of which are herein collectively referred to as the “Obligations”), and irrespective of the genuineness, validity, regularity or enforceability of such Obligations, or of any instrument evidencing any of the Obligations or of any
collateral therefor or of the existence or extent of such collateral, and irrespective of the allowability, allowance or disallowance of any or all of the Obligations in any case commenced by or against any Debtor under Title 11, United States Code,
including, without limitation, obligations or indebtedness of any Debtor for post-petition interest, fees, costs and charges that would have accrued or been added to the Obligations but for the commencement of such case. Terms not otherwise defined
herein shall have the meaning assigned such terms in the Security Agreement. In furtherance of the foregoing, each of the undersigned hereby agrees as follows: 
 1. No Impairment. Laurus may at any time and from time to time, either before or after the maturity thereof, without notice to or further consent of the undersigned, extend the time of payment of, exchange or
surrender any collateral for, renew or extend any of 

 
the Obligations or increase or decrease the interest rate thereon, or any other agreement with any Debtor or with any other party to or person liable on any
of the Obligations, or interested therein, for the extension, renewal, payment, compromise, discharge or release thereof, in whole or in part, or for any modification of the terms thereof or of any agreement between Laurus and any Debtor or any such
other party or person, or make any election of rights Laurus may deem desirable under the United States Bankruptcy Code, as amended, or any other federal or state bankruptcy, reorganization, moratorium or insolvency law relating to or affecting the
enforcement of creditors’ rights generally (any of the foregoing, an “Insolvency Law”) without in any way impairing or affecting this Guaranty. This Guaranty shall be effective regardless of the subsequent incorporation, merger or
consolidation of any Debtor, or any change in the composition, nature, personnel or location of any Debtor and shall extend to any successor entity to any Debtor, including a debtor in possession or the like under any Insolvency Law. 
 2. Guaranty Absolute. Subject to Section 5(c) hereof, each of the undersigned jointly and severally guarantees that the Obligations will be
paid strictly in accordance with the terms of the Documents and/or any other document, instrument or agreement creating or evidencing the Obligations, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction
affecting any of such terms or the rights of Debtors with respect thereto. Guarantors hereby knowingly accept the full range of risk encompassed within a contract of “continuing guaranty” which risk includes the possibility that one or
more Debtors will contract additional indebtedness for which Guarantors may be liable hereunder after such Debtor’s financial condition or ability to pay its lawful debts when they fall due has deteriorated, whether or not any such Debtors have
properly authorized incurring such additional indebtedness. The undersigned acknowledge that (i) no oral representations, including any representations to extend credit or provide other financial accommodations to Debtors, have been made by
Laurus to induce the undersigned to enter into this Guaranty and (ii) any extension of credit to Debtors shall be governed solely by the provisions of the Documents. The liability of each of the undersigned under this Guaranty shall be absolute
and unconditional, in accordance with its terms, and shall remain in full force and effect without regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence whatsoever (other
than payment in full of the Obligations in accordance with Section 9 hereof), including, without limitation: (a) any waiver, indulgence, renewal, extension, amendment or modification of or addition, consent or supplement to or deletion
from or any other action or inaction under or in respect of the Documents or any other instruments or agreements relating to the Obligations or any assignment or transfer of any thereof, (b) any lack of validity or enforceability of any
Document or other documents, instruments or agreements relating to the Obligations or any assignment or transfer of any thereof, (c) any furnishing of any additional security to Laurus or its assignees or any acceptance thereof or any release
of any security by Laurus or its assignees, (d) any limitation on any party’s liability or obligation under the Documents or any other documents, instruments or agreements relating to the Obligations or any assignment or transfer of any
thereof or any invalidity or unenforceability, in whole or in part, of any such document, instrument or agreement or any term thereof, (e) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other
like proceeding relating to any Debtor, or any action taken with respect to this Guaranty by any trustee or receiver, or by any court, in any such proceeding, whether or not the undersigned shall have notice or knowledge of 

  

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any of the foregoing, (f) any exchange, release or nonperfection of any collateral, or any release, or amendment or waiver of or consent to departure
from any guaranty or security, for all or any of the Obligations or (g) any other circumstance which might otherwise constitute a defense available to, or a discharge of, the undersigned. Any amounts due from the undersigned to Laurus shall
bear interest until such amounts are paid in full at the highest rate then applicable to the Obligations. Obligations include post-petition interest whether or not allowed or allowable. 
 3. Waivers. 
 (a) This
Guaranty is a guaranty of payment and not of collection. Laurus shall be under no obligation to institute suit, exercise rights or remedies or take any other action against any Debtor or any other person or entity liable with respect to any of the
Obligations or resort to any collateral security held by it to secure any of the Obligations as a condition precedent to the undersigned being obligated to perform as agreed herein and each of the Guarantors hereby waives any and all rights which it
may have by statute or otherwise which would require Laurus to do any of the foregoing. Each of the Guarantors further consents and agrees that Laurus shall be under no obligation to marshal any assets in favor of Guarantors, or against or in
payment of any or all of the Obligations. The undersigned hereby waives all suretyship defenses and any rights to interpose any defense, counterclaim or offset of any nature and description which the undersigned may have or which may exist between
and among Laurus, Debtors and/or the undersigned with respect to the undersigned’s obligations under this Guaranty, or which Debtors may assert on the underlying debt, including but not limited to failure of consideration, breach of warranty,
fraud, payment (other than cash payment in full of the Obligations), statute of frauds, bankruptcy, infancy, statute of limitations, accord and satisfaction, and usury. 
 (b) Each of the undersigned further waives (i) notice of the acceptance of this Guaranty, of the making of any such loans or
extensions of credit, and of all notices and demands of any kind to which the undersigned may be entitled, including, without limitation, notice of adverse change in any Debtor’s financial condition or of any other fact which might materially
increase the risk of the undersigned and (ii) presentment to or demand of payment from anyone whomsoever liable upon any of the Obligations, protest, notices of presentment, non-payment or protest and notice of any sale of collateral security
or any default of any sort. 
 (c) Notwithstanding any payment or payments made by the undersigned hereunder, or any setoff or
application of funds of the undersigned by Laurus, the undersigned shall not be entitled to be subrogated to any of the rights of Laurus against any Debtor or against any collateral or guarantee or right of offset held by Laurus for the payment of
the Obligations, nor shall the undersigned seek or be entitled to seek any contribution or reimbursement from any Debtor in respect of payments made by the undersigned hereunder, until all amounts owing to Laurus by Debtors on account of the
Obligations are indefeasibly paid in full and Laurus’ obligation to extend credit pursuant to the Documents has been irrevocably terminated. If, notwithstanding the foregoing, any amount shall be paid to the undersigned on account of such
subrogation rights at any time when all of the Obligations shall not have been paid in full and Laurus’ obligation to extend credit pursuant to the Documents shall not have 

  

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been terminated, such amount shall be held by the undersigned in trust for Laurus, segregated from other funds of the undersigned, and shall forthwith upon,
and in any event within two (2) Business Days of, receipt by the undersigned, be turned over to Laurus in the exact form received by the undersigned (duly endorsed by the undersigned to Laurus, if required), to be applied against the
Obligations, whether matured or unmatured, in such order as Laurus may determine, subject to the provisions of the Documents. Any and all present and future debts and obligations of each Debtor to any of the undersigned are hereby waived and
postponed in favor of, and subordinated to the full payment and performance of, all present and future debts and Obligations of Debtors to Laurus. 
 4. Security. All sums at any time to the credit of the undersigned and any property of the undersigned in Laurus’ possession or in the possession of any bank, financial institution or other entity that directly or indirectly,
through one or more intermediaries, controls or is controlled by, or is under common control with, Laurus (each such entity, an “Affiliate”) shall be deemed held by Laurus or such Affiliate, as the case may be, as security for any and all
of the undersigned’s obligations to Laurus and to any Affiliate of Laurus, no matter how or when arising and whether under this or any other instrument, agreement or otherwise. 
 5. Representations and Warranties. Each of the undersigned hereby jointly and severally represents and warrants (all of which representations and
warranties shall survive until all Obligations are indefeasibly satisfied in full and the Documents have been irrevocably terminated), that: 
 (a) Corporate Status. It is a corporation, partnership or limited liability company, as the case may be, duly formed, validly existing and in good standing under the laws of its jurisdiction of formation
indicated on the signature page hereof and has full power, authority and legal right to own its property and assets and to transact the business in which it is engaged. 
 (b) Authority and Execution. It has full power, authority and legal right to execute and deliver, and to perform its obligations
under, this Guaranty and has taken all necessary corporate, partnership or limited liability company, as the case may be, action to authorize the execution, delivery and performance of this Guaranty. 
 (c) Legal, Valid and Binding Character. This Guaranty constitutes its legal, valid and binding obligation enforceable in accordance
with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting the enforcement of creditor’s rights and general principles of equity that
restrict the availability of equitable or legal remedies. 
 (d) Violations. The execution, delivery and performance of
this Guaranty will not violate any requirement of law applicable to it or any contract, agreement or instrument to which it is a party or by which it or any of its property is bound or result in the creation or imposition of any mortgage, lien or
other encumbrance other than in favor of Laurus on any of its property or assets pursuant to the provisions of any of the foregoing, which, in any of the foregoing cases, could reasonably be expected to have, either individually or in the aggregate,
a Material Adverse Effect. 
  

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 (e) Consents or Approvals. No consent of any other person or entity (including,
without limitation, any creditor of the undersigned) and no consent, license, permit, approval or authorization of, exemption by, notice or report to, or registration, filing or declaration with, any governmental authority is required in connection
with the execution, delivery, performance, validity or enforceability of this Guaranty by it, except to the extent that the failure to obtain any of the foregoing could not reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect. 
 (f) Litigation. No litigation, arbitration, investigation or administrative proceeding of
or before any court, arbitrator or governmental authority, bureau or agency is currently pending or, to the best of its knowledge, threatened (i) with respect to this Guaranty or any of the transactions contemplated by this Guaranty or
(ii) against or affecting it, or any of its property or assets, which, in each of the foregoing cases, if adversely determined, could reasonably be expected to have a Material Adverse Effect. 
 (g) Financial Benefit. It has derived or expects to derive a financial or other advantage from each and every loan, advance or
extension of credit made under the Documents or other Obligation incurred by the Debtors to Laurus. 
 (h) Solvency. As
of the date of this Guaranty, (a) the fair saleable value of its assets exceeds its liabilities and (b) it is meeting its current liabilities as they mature. 
 6. Acceleration. 
 (a) If any breach of any covenant or condition or other event of
default shall occur and be continuing under any agreement made by any Debtor or any of the undersigned to Laurus, or any Debtor or any of the undersigned should at any time become insolvent, or shall (i) apply for, consent to or suffer to exist
the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of creditors, (iii) commence a
voluntary case under the federal bankruptcy laws (as now or hereafter in effect), (iv) be adjudicated a bankrupt or insolvent, (v) file a petition seeking to take advantage of any other law providing for the relief of debtors,
(vi) acquiesce to without challenge within ten (10) days of the filing thereof, or failure to have dismissed within thirty (30) days, any petition filed against it in any involuntary case under such bankruptcy laws, or (vii) take
any action for the purpose of effecting any of the foregoing, or if a notice of any lien, levy, or assessment is filed of record with respect to any assets of any of the undersigned by the United States of America or any department, agency, or
instrumentality thereof, or if any taxes or debts owing at any time or times hereafter to any one of them becomes a lien or encumbrance upon any assets of the undersigned in Laurus’ possession, or otherwise, any and all Obligations shall for
purposes hereof, at Laurus’ option, be deemed due and payable without notice notwithstanding that any such Obligation is not then due and payable by Debtors. 
  

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 (b) Each of the undersigned will promptly notify Laurus of any default by such
undersigned in its respective performance or observance of any term or condition of any agreement to which the undersigned is a party if the effect of such default is to cause, or permit the holder of any obligation under such agreement to cause,
such obligation to become due prior to its stated maturity and, if such an event occurs, Laurus shall have the right to accelerate such undersigned’s obligations hereunder. 
 7. Payments from Guarantors. Laurus, in its sole and absolute discretion, with or without notice to the undersigned, may apply on account of the
Obligations any payment from the undersigned or any other guarantors, or amounts realized from any security for the Obligations, or may deposit any and all such amounts realized in a non-interest bearing cash collateral deposit account to be
maintained as security for the Obligations. 
 8. Costs. The undersigned shall pay on demand, all costs, fees and expenses (including
expenses for legal services of every kind) relating or incidental to the enforcement or protection of the rights of Laurus hereunder or under any of the Obligations. 
 9. No Termination. This is a continuing irrevocable guaranty and shall remain in full force and effect and be binding upon the undersigned, and each of the undersigned’s successors and assigns, until all
of the Obligations have been indefeasibly paid in full and Laurus’ obligation to extend credit pursuant to the Documents has been irrevocably terminated. If any of the present or future Obligations are guarantied by persons, partnerships or
entities in addition to the undersigned, the death, release or discharge in whole or in part or the bankruptcy, merger, consolidation, incorporation, liquidation or dissolution of one or more of them shall not discharge or affect the liabilities of
any undersigned under this Guaranty. 
 10. Recapture. Anything in this Guaranty to the contrary notwithstanding, if Laurus receives
any payment or payments on account of the liabilities guaranteed hereby, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee,
receiver, or any other party under any Insolvency Law, common law or equitable doctrine, then to the extent of any sum not finally retained by Laurus, the undersigned’s obligations to Laurus shall be reinstated and this Guaranty shall remain in
full force and effect (or be reinstated) until payment shall have been made to Laurus, which payment shall be due on demand. 
 11. Books
and Records. The books and records of Laurus showing the account between Laurus and Debtor shall be admissible in evidence in any action or proceeding, shall be binding upon the undersigned for the purpose of establishing the items therein set
forth and shall constitute prima facie proof thereof. 
 12. No Waiver. No failure on the part of Laurus to exercise, and no delay in
exercising, any right, remedy or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise by Laurus of any right, remedy or power hereunder preclude any other or future exercise of any other legal right, remedy or
power. Each and every right, remedy and power hereby granted to Laurus or allowed it by law or other agreement shall be cumulative and not exclusive of any other, and may be exercised by Laurus at any time and from time to time. 
  

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 13. Waiver of Jury Trial. EACH OF THE UNDERSIGNED DESIRES THAT ITS DISPUTES BE RESOLVED BY A JUDGE
APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH OF THE UNDERSIGNED HERETO WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO
RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN LAURUS, AND/OR ANY OF THE UNDERSIGNED ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS GUARANTY,
ANY DOCUMENT OR THE TRANSACTIONS RELATED HERETO OR THERETO. 
 14. Governing Law; Jurisdiction. THIS GUARANTY CANNOT BE CHANGED OR
TERMINATED ORALLY, AND SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. EACH OF THE
UNDERSIGNED HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN ANY OF THE UNDERSIGNED, ON THE ONE
HAND, AND LAURUS, ON THE OTHER HAND, PERTAINING TO THIS GUARANTY OR ANY OF THE DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS GUARANTY OR ANY OF THE DOCUMENTS; PROVIDED, THAT EACH OF THE UNDERSIGNED ACKNOWLEDGES THAT ANY APPEALS
FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE COUNTY OF NEW YORK, STATE OF NEW YORK; AND FURTHER PROVIDED, THAT NOTHING IN THIS GUARANTY SHALL BE DEEMED OR OPERATE TO PRECLUDE LAURUS FROM BRINGING SUIT OR
TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO COLLECT THE OBLIGATIONS, TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF LAURUS. EACH OF THE UNDERSIGNED
EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH UNDERSIGNED HEREBY WAIVES ANY OBJECTION WHICH IT MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM
NON CONVENIENS. EACH OF THE UNDERSIGNED HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED
OR CERTIFIED MAIL ADDRESSED TO SUCH UNDERSIGNED IN ACCORDANCE WITH SECTION 18 AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH UNDERSIGNED’S ACTUAL RECEIPT THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE U.S.
MAILS, PROPER POSTAGE PREPAID. 
 15. Understanding With Respect to Waivers and Consents. Each Guarantor warrants and agrees that each
of the waivers and consents set forth in this Guaranty is made voluntarily and unconditionally after consultation with outside legal counsel and with full knowledge of its significance and consequences, with the understanding that events giving rise
to any defense or right waived may 

  

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diminish, destroy or otherwise adversely affect rights which such Guarantor otherwise may have against Debtors, Laurus or any other person or entity or
against any collateral. If, notwithstanding the intent of the parties that the terms of this Guaranty shall control in any and all circumstances, any such waivers or consents are determined to be unenforceable under applicable law, such waivers and
consents shall be effective to the maximum extent permitted by law. 
 16. Severability. To the extent permitted by applicable law,
any provision of this Guaranty which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 17. Amendments, Waivers. No amendment or waiver of any provision of this Guaranty nor consent to any departure by the undersigned therefrom shall in any event be effective unless the same shall be in writing executed by each of the
undersigned directly affected by such amendment and/or waiver and Laurus. 
 18. Notice. All notices, requests and demands to or upon
the undersigned, shall be in writing and shall be deemed to have been duly given or made (a) when delivered, if by hand, (b) three (3) days after being sent, postage prepaid, if by registered or certified mail, (c) when confirmed
electronically, if by facsimile, or (d) when delivered, if by a recognized overnight delivery service in each event, to the numbers and/or address set forth beneath the signature of the undersigned. 
 19. Successors. Laurus may, from time to time, without notice to the undersigned, sell, assign, transfer or otherwise dispose of all or any part
of the Obligations and/or rights under this Guaranty. Without limiting the generality of the foregoing, Laurus may assign, or grant participations to, one or more banks, financial institutions or other entities all or any part of any of the
Obligations. In each such event, Laurus, its Affiliates and each and every immediate and successive purchaser, assignee, transferee or holder of all or any part of the Obligations shall have the right to enforce this Guaranty, by legal action or
otherwise, for its own benefit as fully as if such purchaser, assignee, transferee or holder were herein by name specifically given such right. Laurus shall have an unimpaired right to enforce this Guaranty for its benefit with respect to that
portion of the Obligations which Laurus has not disposed of, sold, assigned, or otherwise transferred. 
 20. Joinder. It is
understood and agreed that any person or entity that desires to become a Guarantor hereunder, or is required to execute a counterpart of this Guaranty after the date hereof pursuant to the requirements of any Document, shall become a Guarantor
hereunder by (x) executing a Joinder Agreement in form and substance satisfactory to Laurus, (y) delivering supplements to such exhibits and annexes to such Documents as Laurus shall reasonably request and (z) taking all actions as
specified in this Guaranty as would have been taken by such such Guarantor had it been an original party to this Guaranty, in each case with all documents required above to be delivered to Laurus and with all documents and actions required above to
be taken to the reasonable satisfaction of Laurus. 
  

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 21. Release. Nothing except indefeasible payment in full of the Obligations shall release any of
the undersigned from liability under this Guaranty. 
 22. Remedies Not Exclusive. The remedies conferred upon Laurus in this Guaranty
are intended to be in addition to, and not in limitation of any other remedy or remedies available to Laurus. 
 23. Limitation of
Obligations under this Guaranty. Each Guarantor and Laurus (by its acceptance of the benefits of this Guaranty) hereby confirms that it is its intention that this Guaranty not constitute a fraudulent transfer or conveyance for purposes of the
Bankruptcy Code, the Uniform Fraudulent Conveyance Act of any similar Federal or state law. To effectuate the foregoing intention, each Guarantor and Laurus (by its acceptance of the benefits of this Guaranty) hereby irrevocably agrees that the
Obligations guaranteed by such Guarantor shall be limited to such amount as will, after giving effect to such maximum amount and all other (contingent or otherwise) liabilities of such Guarantor that are relevant under such laws and after giving
effect to any rights to contribution pursuant to any agreement providing for an equitable contribution among such Guarantor and the other Guarantors (including this Guaranty), result in the Obligations of such Guarantor under this Guaranty in
respect of such maximum amount not constituting a fraudulent transfer or conveyance. 
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 IN WITNESS WHEREOF, this Guaranty has been executed by the undersigned as of the date and year here above
written. 
  

			
	RETAIL AMERICAS VOIP, LLC
		
	By:	 	/s/ Jorge Granados
	Name:	 	Jorge Granados
	Title:	 	Managing Partner
		
	Address:	 	9800 nw 41 Street #200
		 	Miami FL 33178
	Telephone:	 	(305) 592-4848
	Facsimile:	 	(305) 592-4949
	State of Formation: Delaware
	
	ELANDIA, INC.
		
	By:	 	/s/ Harry G. Hobbs
	Name:	 	Harry G. Hobbs
	Title:	 	President and CEO
	Address:	 	1500 Cordova Road, Suite 300
		 	Fort Lauderdale, Florida 33316
	Telephone:	 	(954) 728-9090
	Facsimile:	 	(954) 728-9080
	State of Formation: DelawareEquity Pledge Agreement, dated June 29, 2007

 Exhibit 10.50 
 EQUITY PLEDGE AGREEMENT 
 THIS EQUITY PLEDGE AGREEMENT (this “Agreement”) is
entered into as of June 29, 2007 by and among LATIN NODE, INC., a Florida corporation (“Latin Node”), LATIN NODE LLC, a Florida limited liability company (“Latin LLC”), ELANDIA, INC., a Delaware
corporation (“Elandia”), Latin Node Europe, GmbH, a corporation formed under the laws of Germany (“Latin Europe”) and RETAIL AMERICAS VOIP, LLC, a Delaware limited liability company (“Retail
Americas”, together with Latin Node, Latin LLC, Latin Europe and Elandia, each a “Pledgor”, collectively the “Pledgors”) and LAURUS MASTER FUND, LTD., a Cayman Islands company
(“Laurus”). 
 RECITALS 
 WHEREAS, pursuant to that certain Security Agreement, dated as of the date hereof (as amended, modified, extended, renewed or replaced from time to time, the “Security Agreement” together with
all documents, instruments and agreements executed in connection therewith, collectively, the “Documents”) by and among Latin Node, certain Subsidiaries of Latin Node named therein including, without limitation, Latin LLC (Latin
Node together with such Subsidiaries, collectively, the “Borrowers”), Elandia and Laurus, Laurus agreed to extend certain financial accommodations to Borrowers. 
 WHEREAS, it is a condition precedent to the effectiveness of the Security Agreement and the obligations of Laurus thereunder that the Pledgors shall have executed and delivered this Agreement in favor of
Laurus. 
 NOW, THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions. Unless otherwise defined herein,
capitalized terms used herein shall have the meanings ascribed to such terms in the Security Agreement. 
 2. Pledge and Grant of Security
Interest. To secure the prompt payment and performance in full when due, whether by lapse of time or otherwise, of the Secured Obligations (as defined in Section 3 hereof), each Pledgor hereby pledges and assigns to Laurus, and grants to
Laurus, a first priority security interest in any and all right, title and interest of such Pledgor in and to the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the “Collateral”):

 (a) Equity Interests. The outstanding stock and/or membership interests set forth on Schedule 1 attached hereto
together with the certificates (or other agreements or instruments), if any, representing such stock and/or membership interests, and all options and other rights, contractual or otherwise, with respect thereto (collectively, together with the
shares of stock and membership interests and/or proceeds described in Sections 2(b) and 2(c) below, the “Equity Interests”), including, but not limited to, the following: 
 (i) all shares or securities representing a dividend on any of the Equity Interests, or representing a distribution or return of capital
upon or in respect of the Equity Interests, or resulting from a stock split, revision, reclassification or other exchange therefor, and any subscriptions, warrants, rights or options issued to the holder of, or otherwise in respect of, the Equity
Interests; and 

 (ii) without affecting the obligations of any Pledgor under any provision prohibiting
such action hereunder or under any Document, in the event of any consolidation or merger involving the issuer of any Equity Interests and in which such issuer is not the surviving entity, all shares of each class of the stock of the successor entity
formed by or resulting from such consolidation or merger. 
 (b) Additional Interests. (i) 100% (or, if less, the
full amount owned by each Pledgor) of each class of the issued and outstanding stock and/or membership interests owned by such Pledgor of any Person which hereafter becomes a Domestic Subsidiary, including, without limitation, the certificates, if
any, representing such stock and/or membership interests. 
 (ii) 66.66 (or, if less, the full amount owned by each Pledgor)
of each class of the issued and outstanding stock and/or membership interests owned by such Pledgor of any Person which hereafter becomes a Subsidiary (other than a Domestic Subsidiary), including, without limitation, the certificates, if any,
representing such stock and/or membership interests. 
 (c) Proceeds. All proceeds and products of the foregoing,
however and whenever acquired and in whatever form. 
 Without limiting the generality of the foregoing, it is hereby specifically understood
and agreed that each Pledgor may from time to time hereafter deliver additional shares of stock and/or membership interests, as applicable, to Laurus as collateral security for the Secured Obligations. Upon delivery to Laurus, such additional shares
of stock and/or membership interests shall be deemed to be part of the Collateral and shall be subject to the terms of this Agreement whether or not Schedule 1 is amended to refer to such additional shares or membership interests. 
 3. Security for Secured Obligations. The security interest created hereby in the Collateral of each Pledgor constitutes continuing collateral
security for all of the following (the “Secured Obligations”): All obligations owing by Pledgors, the Borrowers or any Guarantor (including, without limitation, interest accruing at the Contract Rate for the Term Loan (as defined in
the Security Agreement) after the occurrence of an Event of Default and interest accruing at the Contract Rate for the Term Loan after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like
proceeding, relating to any Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) and all other obligations and liabilities of each Pledgor, Borrower and/or Guarantor to Laurus, whether direct or
indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Security Agreement, this Agreement, the other Documents or any other document made, delivered or
given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to Laurus that
are required to be paid by the Borrowers pursuant to the terms of the Security Agreement, this Agreement or any other Document). 
  

 2 

 4. Delivery of the Collateral. Each Pledgor hereby agrees that: 
 (a) Delivery of Certificates. Pledgors shall deliver to Laurus (i) simultaneously with or prior to execution and delivery of
this Agreement, all certificates representing the Equity Interests and (ii) promptly upon the receipt thereof by or on behalf of each Pledgor, all other certificates and instruments constituting the Collateral. Prior to delivery to Laurus, all
such certificates and instruments constituting the Collateral shall be held in trust by Pledgors for the benefit of Laurus pursuant hereto. All such certificates shall be delivered in suitable form for transfer by delivery or shall be accompanied by
duly executed instruments of transfer or assignment in blank, substantially in the form provided in Schedule 2 attached hereto. 
 (b) Additional Securities. If any Pledgor shall receive by virtue of its being or having been the owner of any Collateral, any (i) stock certificate, membership certificate or other certificate representing stock or a membership
interest, including without limitation, any certificate representing a dividend or distribution in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares or membership or
equity interests, stock splits, spin-off or split-off, promissory notes or other instrument; (ii) option or right, whether as an addition to, substitution for, or an exchange for, any Collateral or otherwise; (iii) dividends payable in
securities; or (iv) distributions of securities in connection with a partial or total liquidation, dissolution or reduction of capital, capital surplus or paid-in surplus, then such Pledgor shall receive such certificate, instrument, option,
right or distribution in trust for the benefit of Laurus, shall segregate it from such Pledgor’s other property and shall deliver it forthwith to Laurus in the exact form received together with any necessary endorsement and/or appropriate stock
power or membership interest power, as applicable, duly executed in blank, substantially in the form provided in Schedule 2, to be held by Laurus as Collateral and as further collateral security for the Secured Obligations. 
 (c) Financing Statements. Each Pledgor authorizes Laurus to file such UCC (as defined herein) or other applicable financing
statements as may be reasonably requested by Laurus in order to perfect and protect the security interest created hereby in the Collateral. 
 5. Representations and Warranties. Each Pledgor hereby represents and warrants to Laurus, that so long as any of the Secured Obligations remain outstanding or any Document is in effect: 
 (a) Authorization of the Equity Interests. The Equity Interest are duly authorized and validly issued, are fully paid and
nonassessable and are not subject to the preemptive rights of any Person. All other shares of stock or membership interests constituting Collateral will be duly authorized and validly issued, fully paid and nonassessable and not subject to the
preemptive rights of any Person. 
 (b) Title. Each Pledgor has good and indefeasible title to the Collateral and will
at all times be the legal and beneficial owner of such Collateral free and clear of any Lien, other than Permitted Liens. Except with respect to Permitted Liens, there exists no “adverse claim” within the meaning of Section 8-102 of
the Uniform Commercial Code as in effect in the State of New York (the “UCC”) with respect to the Equity Interests. 
  

 3 

 (c) Exercising of Rights. To the best of each Pledgor’s knowledge, the
exercise by Laurus of its rights and remedies hereunder will not violate any law or governmental regulation or any material contractual restriction binding on or affecting any Pledgor or any of its property. 
 (d) Pledgors’ Authority. No authorization, approval or action by, and no notice or filing with any governmental authority or
with the issuer of any Equity Interests is required either (i) for the pledges made by Pledgors or for the granting of the security interests by Pledgors pursuant to this Agreement or (ii) to the best of each Pledgor’s knowledge, for
the exercise by Laurus of its rights and remedies hereunder (except as may be required by laws affecting the offering and sale of securities). 
 (e) Security Interest/Priority. This Agreement creates a valid first priority security interest in favor of Laurus in the Collateral. The taking possession by Laurus of the certificates, if any, representing
the Equity Interests and all other certificates and instruments constituting Collateral will perfect and establish the first priority of Laurus’s security interest, in the Equity Interests and, when properly perfected by filing or registration,
in all other Collateral represented by such Equity Interests and instruments securing the Secured Obligations. Except as set forth in this Section 5(e), no action is necessary to perfect or otherwise protect such security interest. 

6. Covenants. Each Pledgor hereby covenants, that so long as any of the Secured Obligations remain outstanding or any Document is in effect,
each Pledgor, shall: 
 (a) Books and Records. Mark its books and records (and shall cause each issuer of the Equity
Interests of such Pledgor to mark its books and records) to reflect the security interest granted to Laurus, pursuant to this Agreement and the other Documents. 
 (b) Defense of Title. Warrant and defend title to and ownership of the Collateral at its own expense against the claims and demands
of all other parties claiming an interest therein, keep the Collateral free from all Liens, except for Permitted Liens, and not sell, exchange, transfer, assign, lease or otherwise dispose of the Collateral or any interest therein, except as
permitted under the Security Agreement. 
 (c) Further Assurances. Promptly execute and deliver at its expense all
further instruments and documents and take all further action that may be reasonably necessary and desirable or that Laurus may reasonably request in order to (i) perfect and protect the security interest created hereby in the Collateral
(including without limitation any and all action necessary to satisfy Laurus that Laurus has obtained a first priority perfected security interest in any stock and/or membership interest; (ii) enable Laurus to exercise and enforce its rights
and remedies hereunder in respect of the Collateral; and (iii) otherwise effect the purposes of this Agreement, including, without limitation and if requested by Laurus, delivering to Laurus irrevocable proxies in respect of the Collateral.

 (d) Amendments. Not make or consent to any amendment or other modification or waiver with respect to any of the
Collateral or enter into any agreement or allow to exist any restriction with respect to any of the Collateral other than pursuant hereto or as may be permitted under the Security Agreement, including, without limitation, any amendment that would
(i) impair the Collateral or adversely affect in any respect the rights, privileges, benefits and security interests provided to or intended to be 

  

 4 

 
provided to Laurus or (ii) that in any way adversely affects the perfection of the security interest of Laurus in the Collateral, including, without
limitation, any amendment electing to no longer treat any membership interest as a security under Section 8-103 of the Code, or any election to turn any previously certificated membership interest into an uncertificated membership interest.

 (e) Compliance with Securities Laws. File all reports and other information now or hereafter required to be filed by
such Pledgor with the United States Securities and Exchange Commission and any other state, federal or foreign agency in connection with the ownership of the Collateral. 
 7. Advances by Laurus. On failure of any Pledgor to perform any of the covenants and agreements contained herein, Laurus may, at its sole option and in its sole discretion, perform the same and in so doing may
expend such sums as Laurus may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien (other
than a Permitted Lien), expenditures made in defending against any adverse claim (other than a Permitted Lien) and all other expenditures which Laurus may make for the protection of the security hereof or which may be compelled to make by operation
of law. All such sums and amounts so expended shall be repayable by Pledgors promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at
the Contract Rate for the Term Loan. No such performance of any covenant or agreement by Laurus on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve Pledgors of any default under the terms of this Agreement or the
other Documents. Laurus may make any payment hereby authorized in accordance with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill,
statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by Pledgors in appropriate proceedings and against which adequate
reserves are being maintained in accordance with GAAP. 
 8. Events of Default. Each of the following shall constitute an event of
default (“Event of Default”) hereunder: 
 (a) An “Event of Default” under any Document or any
agreement or note related to any Document shall have occurred and be continuing beyond any applicable cure period; 
 (b) Any
Pledgor shall default in the performance of any of its obligations under any agreement between any Pledgor and Laurus, including, without limitation, this Agreement, and such default shall not be cured during any applicable cure period; 

(c) Any representation or warranty of any Pledgor made herein, in any Document or in any agreement, statement or certificate given in
writing pursuant hereto or thereto or in connection herewith or therewith shall be false or misleading in any material respect; 
  

 5 

 (d) Any portion of the Collateral is subjected to a levy of execution, attachment,
distraint or other judicial process or any portion of the Collateral is the subject of a claim (other than by Laurus) of a Lien or other right or interest in or to the Collateral and such levy or claim shall not be cured, disputed or stayed within a
period of fifteen (15) business days after the occurrence thereof; or 
 (e) Any Pledgor shall (i) apply for,
consent to, or suffer to exist the appointment of, or the taking of possession by, a receiver, custodian, trustee, liquidator or other fiduciary of itself or of all or a substantial part of its property, (ii) make a general assignment for the
benefit of creditors, (iii) commence a voluntary case under any state or federal bankruptcy laws (as now or hereafter in effect), (iv) be adjudicated a bankrupt or insolvent, (v) file a petition seeking to take advantage of any other
law providing for the relief of debtors, (vi) acquiesce to, or fail to have dismissed, within thirty (30) days, any petition filed against it in any involuntary case under such bankruptcy laws, or (vii) take any action for the purpose
of effecting any of the foregoing. 
 9. Remedies. 
 (a) General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, Laurus shall have, in respect
of the Collateral, in addition to the rights and remedies provided herein, in the Documents or by law, the rights and remedies of a secured party under the UCC or any other applicable law. 
 (b) Transfer and Sale of Collateral. Upon the occurrence of an Event of Default and during the continuation thereof, without
limiting the generality of this Section and without notice, Laurus may, in its sole discretion, sell or otherwise dispose of or realize upon the Collateral, or any part thereof, in one or more parcels, at public or private sale, at any exchange or
broker’s board or elsewhere, at such price or prices and on such other terms as Laurus may deem commercially reasonable, for cash, credit or for future delivery or otherwise in accordance with applicable law. To the extent permitted by law,
Laurus may in such event, bid for the purchase of such securities. Each Pledgor agrees that, to the extent notice of sale shall be required by law and has not been waived by such Pledgor, any requirement of reasonable notice shall be met if notice,
specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to such Pledgor, in accordance with the notice provisions of Section 29 of the Security
Agreement at least ten (10) days before the time of such sale. Laurus shall not be obligated to make any sale of the Collateral regardless of notice of sale having been given. Laurus may adjourn any public or private sale from time to time by
announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. 
 (c) Private Sale. Upon the occurrence of an Event of Default and during the continuation thereof, each Pledgor recognizes that Laurus may deem it impracticable to effect a public sale of all or any part of the
Equity Interests or any of the securities constituting the Collateral and that Laurus may, therefore, determine to make one or more private sales of any such securities to a restricted group of purchasers who will be obligated to agree, among other
things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof. Each Pledgor acknowledges that any such 

  

 6 

 
private sale may be at prices and on terms less favorable to the seller than the prices and other terms which might have been obtained at a public sale and,
notwithstanding the foregoing, agrees that such private sale shall be deemed to have been made in a commercially reasonable manner and that Laurus shall have no obligation to delay sale of any such securities for the period of time necessary to
permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933, as amended. Each Pledgor further acknowledges and agrees that any offer to sell such securities which has been made privately in the
manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, as amended, and Laurus may, in such event,
bid for the purchase of such securities. 
 (d) Retention of Collateral. In addition to the rights and remedies
hereunder, upon the occurrence and during the continuance of an Event of Default, Laurus may, after providing the notices required by Section 9-620 of the UCC or otherwise complying with the requirements of applicable law of the relevant
jurisdiction, retain all or any portion of the Collateral in satisfaction of the Secured Obligations. Unless and until Laurus shall have provided such notices, however, Laurus shall not be deemed to have retained the Collateral in satisfaction of
any Secured Obligations for any reason. 
 (e) Deficiency. In the event that the proceeds of any sale, collection or
realization are insufficient to pay all amounts to which Laurus is legally entitled, Pledgors shall be, jointly and severally, liable for the deficiency, together with interest thereon at the Contract Rate for the Term Loan, together with the costs
of collection and the reasonable fees of any attorneys employed by Laurus to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to Pledgors, or to whomsoever a court of
competent jurisdiction shall determine to be entitled thereto. 
 10. Rights of Laurus. 
 (a) Power of Attorney. In addition to other powers of attorney contained herein, each Pledgor hereby designates and appoints
Laurus, and each of its designees or agents as attorney-in-fact of such Pledgor, irrevocably and with power of substitution, with authority to take any or all of the following actions upon the occurrence and during the continuance of an Event of
Default: 
 (i) to demand, collect, settle, compromise, adjust and give discharges and releases concerning the Collateral, all
as Laurus may reasonably determine; 
 (ii) to commence and prosecute any actions at any court for the purposes of collecting
any of the Collateral and enforcing any other right in respect thereof; 
 (iii) to defend, settle or compromise any action
brought and, in connection therewith, give such discharge or release as Laurus may deem reasonably appropriate; 
 (iv) to pay
or discharge taxes, liens, security interests, or other encumbrances levied or placed on or threatened against the Collateral; 
  

 7 

 (v) to direct any parties liable for any payment under any of the Collateral to make
payment of any and all monies due and to become due thereunder directly to Laurus or as Laurus shall direct; 
 (vi) to
receive payment of and receipt for any and all monies, claims, and other amounts due and to become due at any time in respect of or arising out of any Collateral; 
 (vii) to sign and endorse any drafts, assignments, proxies, stock powers, verifications, notices and other documents relating to the
Collateral; 
 (viii) to settle, compromise or adjust any suit, action or proceeding described above and, in connection
therewith, to give such discharges or releases as Laurus may deem reasonably appropriate; 
 (ix) to execute and deliver all
assignments, conveyances, statements, financing statements, renewal financing statements, pledge agreements, affidavits, notices and other agreements, instruments and documents that Laurus may determine necessary in order to perfect and maintain the
security interests and liens granted in this Agreement and in order to fully consummate all of the transactions contemplated therein; 
 (x) to exchange any of the Collateral or other property upon any merger, consolidation, reorganization, recapitalization or other readjustment of the issuer thereof and, in connection therewith, deposit any of the
Collateral with any committee, depository, transfer agent, registrar or other designated agency upon such terms as Laurus may determine; 
 (xi) to vote for a shareholder, partner or member resolution, or to sign an instrument in writing, sanctioning the transfer of any or all of the Equity Interests into the name of Laurus or into the name of any
transferee to whom the Equity Interests or any part thereof may be sold pursuant to Section 9 hereof; and 
 (xii) to do
and perform all such other acts and things as Laurus may reasonably deem to be necessary, proper or convenient in connection with the Collateral. 
 This power of attorney is a power coupled with an interest and shall be irrevocable for so long as any of the Secured Obligations remain outstanding or any Document is in effect. Laurus shall be under no duty to exercise or withhold the
exercise of any of the rights, powers, privileges and options expressly or implicitly granted to Laurus in this Agreement, and shall not be liable for any failure to do so or any delay in doing so. Laurus shall not be liable for any act or omission
or for any error of judgment or any mistake of fact or law in its individual capacity or its capacity as attorney-in-fact except acts or omissions resulting from its gross negligence or willful misconduct. This power of attorney is conferred on
Laurus solely to protect, preserve and realize upon its security interest in Collateral. 
 (b) Performance by Laurus of
any Pledgor’s Obligations. If any Pledgor fails to perform any agreement or obligation contained herein, Laurus itself may perform, or cause performance of, such agreement or obligation, and the expenses of Laurus incurred in connection
therewith shall be payable by Pledgors pursuant to Section 7 hereof. 
  

 8 

 (c) Assignment by Laurus. Subject to Section 23 of the Security Agreement,
Laurus may from time to time assign the Secured Obligations and any portion thereof and/or the Collateral and any portion thereof, and the assignee shall be entitled to all of the rights and remedies of Laurus under this Agreement in relation
thereto. 
 (d) Laurus’s Duty of Care. Other than the exercise of reasonable care to assure the safe custody of
the Collateral while being held by Laurus hereunder, Laurus shall have no duty or liability to preserve rights pertaining thereto, it being understood and agreed that each Pledgor shall be responsible for preservation of all rights in the
Collateral, and Laurus shall be relieved of all responsibility for the Collateral upon surrendering it or tendering the surrender of it to the Pledgors. Laurus shall be deemed to have exercised reasonable care in the custody and preservation of the
Collateral in its possession if such Collateral is accorded treatment substantially equal to that which Laurus accords its own property, which shall be no less than the treatment employed by a reasonable and prudent Laurus in the industry, it being
understood that Laurus shall not have responsibility for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Collateral, whether or not Laurus has or is deemed to
have knowledge of such matters; or (ii) taking any necessary steps to preserve rights against any parties with respect to any Collateral. 
 (e) Voting Rights in Respect of the Collateral. 
 (i) So long as no Event of Default
shall have occurred and be continuing, to the extent permitted by law, each Pledgor may exercise any and all voting and other consensual rights pertaining to the Collateral or any part thereof for any purpose not inconsistent with the terms of this
Agreement or any Document; and 
 (ii) Upon the occurrence and during the continuance of an Event of Default, all rights of
Pledgors to exercise the voting and other consensual rights which they would otherwise be entitled to exercise pursuant to clause (i) of this subsection (e) shall cease and all such rights shall thereupon become vested in Laurus which
shall then have the sole right to exercise such voting and other consensual rights. 
 (f) Dividend Rights in Respect of
the Collateral. 
 (i) So long as no Event of Default shall have occurred and be continuing or no other Document prohibits
the making or receiving of any dividends and other distributions and subject to Section 4(b) hereof, Pledgors may receive and retain any and all dividends and other distributions (other than dividends and other distributions constituting
Collateral which are addressed hereinabove) or interest paid in respect of the Collateral to the extent they are allowed under the Documents. 
 (ii) Upon the occurrence and during the continuance of an Event of Default: 
 (A) all rights
of each Pledgor to receive the dividends, other distributions and interest payments which it would otherwise be authorized to receive and retain pursuant to paragraph (i) of this subsection shall cease and all such rights shall thereupon be
vested in Laurus which shall then have the sole right to receive and hold such dividends, other distributions and interest payments as Collateral; and 
  

 9 

 (B) all dividends and interest payments which are received by any Pledgor contrary to
the provisions of paragraph (A) of this clause shall be received in trust for the benefit of Laurus, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over to Laurus as Collateral in the exact form
received, to be held by Laurus as Collateral and as further collateral security for the Secured Obligations. 
 (g) Release
of Collateral. Laurus may release any of the Collateral from this Agreement or may substitute any of the Collateral for other Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of
this Agreement as to any Collateral not expressly released or substituted, and this Agreement shall continue as a first priority lien on all Collateral not expressly released or substituted. 
 11. Application of Proceeds. Upon the occurrence of and during the continuance of an Event of Default, any payments in respect of the Secured
Obligations and any proceeds of any Collateral, when received by Laurus in cash or its equivalent, will be applied as follows: first, to all reasonable costs and expenses of Laurus (including without limitation reasonable attorneys’ fees
and expenses) incurred in connection with the implementation and/or enforcement of this Agreement and/or any of the other Documents; second, to the principal amount of the Secured Obligations; third, to such of the Secured Obligations
consisting of accrued but unpaid interest and fees; fourth, to all other amounts payable with respect to the Secured Obligations; and fifth, to the payment of the surplus, if any, to whoever may be lawfully entitled to receive such
surplus. Pledgors shall remain jointly and severally liable to Laurus for any deficiency. 
 12. Costs of Counsel. If at any time
hereafter, whether upon the occurrence of an Event of Default or not, Laurus employs counsel to prepare or consider amendments, waivers or consents with respect to this Agreement, or to take action or make a response in or with respect to any legal
or arbitral proceeding relating to this Agreement or relating to the Collateral, or to protect the Collateral or exercise any rights or remedies under this Agreement or with respect to the Collateral, then Pledgors agree to promptly pay upon demand
any and all such reasonable documented costs and expenses incurred by Laurus, all of which costs and expenses shall constitute Secured Obligations hereunder. 
 13. Continuing Agreement. 
 (a) This Agreement shall be a continuing agreement in
every respect and shall remain in full force and effect so long as any Document is in effect or any amounts payable thereunder shall remain outstanding. Upon such payment and termination, this Agreement shall be automatically terminated and Laurus
shall, upon the request and at the expense of Pledgors, forthwith release all of its liens and security interests hereunder and shall execute and deliver all UCC termination statements and/or other documents reasonably requested by Pledgors
evidencing such termination including, without limitation, all certificates 

  

 10 

 
evidencing the Collateral together with any related stock or membership interests powers delivered to Laurus by any Pledgor. Notwithstanding the foregoing,
all releases and indemnities provided hereunder shall survive termination of this Agreement. 
 (b) This Agreement shall
continue to be effective or be automatically reinstated, as the case may be, if at any time payment, in whole or in part, of any of the Secured Obligations is rescinded or must otherwise be restored or returned by Laurus as a preference, fraudulent
conveyance or otherwise under any bankruptcy, insolvency or similar law, all as though such payment had not been made; provided that in the event payment of all or any part of the Secured Obligations is rescinded or must be restored or
returned, all reasonable costs and expenses (including without limitation any reasonable legal fees and disbursements) incurred by Laurus in defending and enforcing such reinstatement shall be deemed to be included as a part of the Secured
Obligations. 
 14. Amendments; Waivers; Modifications. This Agreement and the provisions hereof may not be amended, waived, modified,
changed, discharged or terminated except in accordance with the terms of the Security Agreement. 
 15. Successors in Interest. This
Agreement shall create a continuing security interest in the Collateral and shall be binding upon each Pledgor, its successors and assigns and shall inure, together with the rights and remedies of Laurus hereunder, to the benefit of Laurus and its
successors and permitted assigns; provided, however, that no Pledgor may assign its rights or delegate its duties hereunder without the prior written consent of Laurus. To the fullest extent permitted by law, each Pledgor hereby
releases Laurus, and its successors and permitted assigns, from any liability for any act or omission relating to this Agreement or the Collateral, except for any liability arising from the gross negligence or willful misconduct of Laurus, or its
officers, employees or agents. 
 16. Notices. All notices required or permitted to be given under this Agreement shall be in
conformance with Section 29 of the Security Agreement. 
 17. Counterparts. This Agreement may be executed in any number
of counterparts, each of which where so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Agreement to produce or account for more than one
such counterpart. 
 18. Headings. The headings of the sections and subsections hereof are provided for convenience only and shall not
in any way affect the meaning or construction of any provision of this Agreement. 
 19. Governing Law; Consent to Jurisdiction and
Service of Process; Waiver of Jury Trial. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. THE PROVISIONS OF THE
SECURITY AGREEMENT RELATING TO CONSENT TO JURISDICTION AND WAIVER OF JURY TRIAL ARE HEREBY INCORPORATED BY REFERENCE HEREIN, MUTATIS MUTANDIS. 
  

 11 

 20. Severability. If any provision of this Agreement is determined to be illegal, invalid or
unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions. 
 21. Entirety. This Agreement and the other Documents represent the entire agreement of the parties hereto and thereto, and supersede all prior
agreements and understandings, oral or written, if any, including any commitment letters or correspondence relating to the Documents or the transactions contemplated herein and therein. 
 22. Survival. All representations and warranties of Pledgors hereunder shall survive the execution and delivery of this Agreement and the other
Documents. 
 23. Other Security. To the extent that any of the Secured Obligations are now or hereafter secured by property other
than the Collateral (including, without limitation, real and other personal property owned by Pledgor), or by a guarantee, endorsement or property of any other Person, then Laurus shall have the right to proceed against such other property,
guarantee or endorsement upon the occurrence and during the continuance of any Event of Default, and Laurus has the right, in its sole discretion, to determine which rights, security, liens, security interests or remedies Laurus shall at any time
pursue, relinquish, subordinate, modify or take with respect thereto, without in any way modifying or affecting any of them or any of Laurus’s rights or the Secured Obligations under this Agreement or under any other of the Documents.

 [Remainder of page intentionally left blank] 
  

 12 

 Each of the parties hereto has caused a counterpart of this Agreement to be duly executed and delivered
as of the date first above written. 
  

			
	 LATIN NODE, INC.

		
	 By:
	 	 /s/ Jorge Granados

	 Name:
	 	 Jorge Granados

	 Title:
	 	 CEO

	
	 ELANDIA, INC.

		
	 By:
	 	 /s/ Harry G. Hobbs

	 Name:
	 	 Harry G. Hobbs

	 Title:
	 	 President and CEO

	
	 RETAIL AMERICAS VOIP, LLC

		
	 By:
	 	 /s/ Jorge Granados

	 Name:
	 	 Jorge Granados

	 Title:
	 	 Manager

	
	 LATIN NODE EUROPE, GMBH

		
	 By:
	 	 /s/ Jorge Granados

	 Name:
	 	 Jorge Granados

	 Title:
	 	 Manager

	
	 LAURUS MASTER FUND, LTD.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 SIGNATURE PAGE TO 
 EQUITY PLEDGE AGREEMENT 

 SCHEDULE 1 
 to 
 Equity Pledge Agreement 
 Dated as of June 29, 2007 
 In favor of Laurus Master Fund, Ltd. 
 Stock / Membership Interests Owned by Pledgors 
  

 14 

										
	 Pledgor
	  	 Issuer
	  	Number of
Shares/
Interests	  	Certificate
Number	  	Percentage
Ownership	 
	 Latin Node, Inc.
	  	Latin Node LLC	  		  	01	  	100	%
					
	 Latin Node, Inc.
	  	Latinode Communications Corporation	  	100	  	01	  	100	%
					
	 Latin Node, Inc.
	  	TS Telecommunications, Inc.	  	100	  	01	  	100	%
					
	 Latin Node, Inc.
	  	Nsite Software, LLC	  		  	01	  	100	%
					
	 Latin Node, Inc.
	  	Tropical Star Communications, Inc.	  	100	  	01	  	100	%
					
	 Latin Node, Inc.
	  	Total Solutions Telecom Inc.	  	1000	  	01	  	100	%
					
	 Latin Node, Inc.
	  	Latin Node Europe, GmbH	  		  		  	66.66	%
					
	 Elandia, Inc.
	  	Latin Node, Inc.	  	8,000,000	  		  	80	%
					
	 Retail Americas VoIP, LLC
	  	Latin Node, Inc.	  	2,000,000	  		  	20	%
					
	 Latin Node LLC
	  	LN Comunicaciones, S.A.	  		  		  	66.66	%
					
	 Latin Node Europe, GmbH
	  	CrossFoneEurope GmbH	  		  		  	66.66	%

  

 15 

 SCHEDULE 2 
 to 
 Equity Pledge Agreement 
 Dated as of June 29, 2007 
 In favor of Laurus Master Fund, Ltd. 
 [Irrevocable Stock Power] [Membership Interest Power] 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to 
 the following [shares of stock/membership
interest] of                     , a
                    : 
  

			
	 No. of [Shares] [Units]
	 	 Certificate No.

		 	
		 	

 and irrevocably appoints
                                        
its agent and attorney-in-fact to transfer all or any part of such [stock/membership interests] and to take all necessary and appropriate action to effect any such transfer. The agent and attorney-in-fact may substitute and appoint one or more
persons to act for him. The effectiveness of a transfer pursuant to this stock power shall be subject to any and all transfer restrictions referenced on the face of the certificates evidencing such interest or in the [certificate of
incorporation/articles of organization] or [bylaws/operating agreement] of the subject [corporation/limited liability company], to the extent they may from time to time exist. 
  

			
	  

	 a
                                        

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 16

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