Document:

EXHIBIT 4.6

                             STOCK PLEDGE AGREEMENT

      This Stock Pledge Agreement (this "Agreement"), dated as of March 9, 2005,
among Laurus Master Fund, Ltd. (the "Pledgee"), Fast Eddie Racing Stables, Inc.,
a Florida corporation (the "Company"), and each of the other undersigned parties
(other than the Pledgee) (the Company and each such other  undersigned  party, a
"Pledgor" and collectively, the "Pledgors").

                                   BACKGROUND

      The Company has entered into a Securities Purchase Agreement,  dated as of
March 7, 2005 (as amended, modified, restated or supplemented from time to time,
the "Securities Purchase Agreement"),  pursuant to which the Pledgee provides or
will provide certain financial accommodations to the Company.

      In order to induce  the  Pledgee to provide  or  continue  to provide  the
financial  accommodations  described in the Securities Purchase Agreement,  each
Pledgor  has agreed to pledge and grant a security  interest  in the  collateral
described herein to the Pledgee on the terms and conditions set forth herein.

      NOW,  THEREFORE,  in  consideration of the premises and for other good and
valuable consideration the receipt of which is hereby acknowledged,  the parties
hereto agree as follows:

      1. Defined Terms. All capitalized  terms used herein which are not defined
shall have the meanings given to them in the Securities Purchase Agreement.

      2. Pledge and Grant of Security Interest.  To secure the full and punctual
payment and performance of (the following clauses (a) and (b), collectively, the
"Indebtedness")  (a) the obligations under the Securities Purchase Agreement and
the Related  Agreements  referred to in the Securities  Purchase  Agreement (the
Securities  Purchase  Agreement  and the  Related  Agreements,  as  each  may be
amended, restated, modified and/or supplemented from time to time, collectively,
the "Documents") and (b) all other indebtedness,  obligations and liabilities of
each Pledgor to the Pledgee 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  (in  each  case,  irrespective  of  the  genuineness,
validity,   regularity  or  enforceability  of  such  Indebtedness,  or  of  any
instrument  evidencing any of the Indebtedness 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  such  in any  case
commenced  by or  against  any  Pledgor  under  Title 11,  United  States  Code,
including,  without limitation,  obligations or indebtedness of each Pledgor for
post-petition interest,  fees, costs and charges that would have accrued or been
added to the Indebtedness  but for the commencement of such case),  each Pledgor
hereby pledges, assigns, hypothecates,  transfers and grants a security interest
to Pledgee in all of the following (the "Collateral"):

            (a) the shares of stock set forth on  Schedule A annexed  hereto and
expressly made a part hereof  (together  with any additional  shares of stock or
other equity interests acquired

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by any Pledgor, the "Pledged Stock"), the certificates  representing the Pledged
Stock and all dividends,  cash,  instruments and other property or proceeds from
time to time received,  receivable or otherwise  distributed in respect of or in
exchange for any or all of the Pledged Stock;

            (b) all additional shares of stock of any issuer (each, an "Issuer")
of the  Pledged  Stock from time to time  acquired by any Pledgor in any manner,
including,  without  limitation,  stock  dividends  or a stock  distribution  in
connection with any increase or reduction of capital, reclassification,  merger,
consolidation,  sale of assets,  combination of shares, stock split, spin-off or
split-off (which shares shall be deemed to be part of the  Collateral),  and the
certificates  representing  such  additional  shares,  and all dividends,  cash,
instruments  and  other  property  or  proceeds  from  time  to  time  received,
receivable or otherwise  distributed in respect of or in exchange for any or all
of such shares; and

            (c)  all  options  and  rights,   whether  as  an  addition  to,  in
substitution  of or in  exchange  for any  shares of any  Pledged  Stock and all
dividends,  cash,  instruments  and other property or proceeds from time to time
received,  receivable or otherwise  distributed in respect of or in exchange for
any or all such options and rights.

      3. Delivery of Collateral. All certificates representing or evidencing the
Pledged Stock shall be delivered to and held by or on behalf of Pledgee pursuant
hereto and shall be  accompanied  by duly  executed  instruments  of transfer or
assignment in blank,  all in form and substance  satisfactory  to Pledgee.  Each
Pledgor  hereby  authorizes the Issuer upon demand by the Pledgee to deliver any
certificates,  instruments or other distributions  issued in connection with the
Collateral  directly  to the  Pledgee,  in each case to be held by the  Pledgee,
subject to the terms  hereof;  provided,  however,  that, to the extent that the
payment of dividends is not prohibited  under Section  6.12(a) of the Securities
Purchase  Agreement,  the  Pledgors  shall not be  obligated to deliver any cash
dividends declared and paid in connection with the Collateral to Pledgor at such
time as no Event of Default (as defined  below) has occurred and is  continuing.
Upon the  occurrence  and during  the  continuance  of an Event of  Default  (as
defined  below) under the Note that has occurred  and is  continuing  beyond any
applicable grace period,  the Pledgee shall have the right,  during such time in
its discretion and without notice to the Pledgor,  to transfer to or to register
in the name of the  Pledgee  or any of its  nominees  any or all of the  Pledged
Stock.  In addition,  the Pledgee  shall have the right at such time to exchange
certificates  or  instruments  representing  or  evidencing  Pledged  Stock  for
certificates or instruments of smaller or larger denominations.

      4.  Representations  and Warranties of each Pledgor.  Each Pledgor jointly
and severally represents and warrants to the Pledgee (which  representations and
warranties  shall be deemed to continue to be made until all of the Indebtedness
has been  paid in full and each  Document  and  each  agreement  and  instrument
entered into in connection therewith has been irrevocably terminated) that:

            (a) the execution,  delivery and performance by each Pledgor of this
Agreement and the pledge of the Collateral  hereunder do not and will not result
in any violation

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of any agreement, indenture,  instrument, license, judgment, decree, order, law,
statute,  ordinance or other  governmental rule or regulation  applicable to any
Pledgor;

            (b)  this  Agreement  constitutes  the  legal,  valid,  and  binding
obligation of each Pledgor  enforceable  against each Pledgor in accordance with
its terms;

            (c) (i) all  Pledged  Stock  owned by each  Pledgor  is set forth on
Schedule A hereto and (ii) each  Pledgor is the direct and  beneficial  owner of
each share of the Pledged Stock;

            (d)  all  of  the  shares  of  the  Pledged  Stock  have  been  duly
authorized, validly issued and are fully paid and nonassessable;

            (e) no consent or approval of any person, corporation,  governmental
body,  regulatory authority or other entity, is or will be necessary for (i) the
execution,  delivery and performance of this Agreement, (ii) the exercise by the
Pledgee of any rights  with  respect to the  Collateral  or (iii) the pledge and
assignment  of,  and  the  grant  of a  security  interest  in,  the  Collateral
hereunder;

            (f) there are no  pending  or, to the best of  Pledgor's  knowledge,
threatened   actions  or   proceedings   before  any   court,   judicial   body,
administrative  agency or arbitrator  which may materially  adversely affect the
Collateral;

            (g) each Pledgor has the requisite power and authority to enter into
this  Agreement  and to pledge  and  assign  the  Collateral  to the  Pledgee in
accordance with the terms of this Agreement;

            (h) each Pledgor owns each item of the  Collateral  and,  except for
the pledge and security  interest granted to Pledgee  hereunder,  the Collateral
shall be, immediately following the closing of the transactions  contemplated by
the Documents,  free and clear of any other security  interest,  pledge,  claim,
lien,  charge,  hypothecation,  assignment,  offset  or  encumbrance  whatsoever
(collectively, "Liens");

            (i) there are no  restrictions  on  transfer  of the  Pledged  Stock
contained  in  the  certificate  of  incorporation  or  by-laws  (or  equivalent
organizational  documents)  of the Issuer or otherwise  which have not otherwise
been enforceably and legally waived by the necessary parties;

            (j) none of the  Pledged  Stock has been  issued or  transferred  in
violation of the securities registration,  securities disclosure or similar laws
of any jurisdiction to which such issuance or transfer may be subject;

            (k) the pledge and  assignment of the  Collateral and the grant of a
security  interest  under this  Agreement vest in the Pledgee all rights of each
Pledgor in the Collateral as contemplated by this Agreement; and

                                      -3-
<PAGE>

            (l) The Pledged Stock  constitutes one hundred percent (100%) of the
issued and outstanding shares of capital stock of each Issuer.

      5. Covenants. Each Pledgor jointly and severally covenants that, until the
Indebtedness shall be satisfied in full and each Document and each agreement and
instrument entered into in connection therewith is irrevocably terminated:

            (a) No Pledgor will sell,  assign,  transfer,  convey,  or otherwise
dispose of its rights in or to the Collateral or any interest therein;  nor will
any Pledgor create, incur or permit to exist any Lien whatsoever with respect to
any of the Collateral or the proceeds thereof other than that created hereby.

            (b) Each Pledgor will, at its expense, defend Pledgee's right, title
and security  interest in and to the Collateral  against the claims of any other
party.

            (c) Each Pledgor shall at any time, and from time to time,  upon the
written  request of Pledgee,  execute and deliver such further  documents and do
such  further  acts and things as  Pledgee  may  reasonably  request in order to
effect  the  purposes  of this  Agreement  including,  but  without  limitation,
delivering  to Pledgee upon the  occurrence  and during the  continuation  of an
Event of  Default  irrevocable  proxies in  respect  of the  Collateral  in form
satisfactory to Pledgee.  Until receipt  thereof,  upon an Event of Default that
has  occurred  and is  continuing  beyond  any  applicable  grace  period,  this
Agreement shall constitute Pledgor's proxy to Pledgee or its nominee to vote all
shares of Collateral then registered in each Pledgor's name.

            (d) No Pledgor  will  consent to or approve the  issuance of (i) any
additional shares of any class of capital stock or other equity interests of the
Issuer;  or (ii) any  securities  convertible  either  voluntarily by the holder
thereof or  automatically  upon the occurrence or  nonoccurrence of any event or
condition into, or any securities  exchangeable for, any such shares, unless, in
either case, such shares are pledged as Collateral pursuant to this Agreement.

      6. Voting Rights and  Dividends.  In addition to the Pledgee's  rights and
remedies set forth in Section 8 hereof,  in case an Event of Default  shall have
occurred and be continuing, beyond any applicable cure period, the Pledgee shall
(i) be entitled  to vote the  Collateral,  (ii) be  entitled  to give  consents,
waivers and  ratifications  in respect of the  Collateral  (each Pledgor  hereby
irrevocably  constituting  and  appointing  the  Pledgee,  with  full  power  of
substitution,  the proxy and attorney-in-fact of each Pledgor for such purposes)
and (iii) be entitled to collect and receive for its own use cash dividends paid
on the  Collateral.  No Pledgor  shall be  permitted to exercise or refrain from
exercising any voting rights or other powers if, in the  reasonable  judgment of
the Pledgee,  such action would have a material  adverse  effect on the value of
the Collateral or any part thereof;  and, provided,  further,  that each Pledgor
shall  give at least five (5) days'  written  notice of the manner in which such
Pledgor intends to exercise, or the reasons for refraining from exercising,  any
voting  rights or other  powers  other  than with  respect  to any  election  of
directors  and voting with  respect to any  incidental  matters.  Following  the
occurrence and during the continuation of an Event of Default, all dividends and
all other distributions in respect of any of the Collateral,  shall be delivered
to the Pledgee to hold as Collateral and shall,  if received by any Pledgor,  be
received in trust for the benefit of the Pledgee, be segregated from

                                      -4-
<PAGE>

the other property or funds of any other Pledgor,  and be forthwith delivered to
the Pledgee as  Collateral  in the same form as so received  (with any necessary
endorsement).

      7. Event of Default.  An Event of Default shall be deemed to have occurred
and may be declared by the Pledgee upon the  happening  of any of the  following
events:

            (a) An "Event of Default" under 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  Pledgee,  including,
without  limitation,  this Agreement,  and such default shall not be cured for a
period of fifteen (15) days after the occurrence thereof;

            (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;

            (d) Any portion of the Collateral is subjected to levy of execution,
attachment,  distraint  or  other  judicial  process;  or  any  portion  of  the
Collateral  is the subject of a claim  (other than by the  Pledgee) of a Lien or
other  right or interest  in or to the  Collateral,  in each case for a claim in
excess of $10,000, 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 sixty
(60) 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.

      8.  Remedies.  In case an Event of  Default  shall  have  occurred  and be
declared by the Pledgee, the Pledgee may:

            (a) Transfer any or all of the Collateral into its name, or into the
name of its nominee or nominees;

            (b) Exercise  all  corporate  rights with respect to the  Collateral
including, without limitation, all rights of conversion,  exchange, subscription
or any other  rights,  privileges  or  options  pertaining  to any shares of the
Collateral  as if it were the absolute  owner  thereof,  including,  but without
limitation,  the  right  to  exchange,  at  its  discretion,  any  or all of the
Collateral upon the merger, consolidation,  reorganization,  recapitalization or
other readjustment

                                      -5-
<PAGE>

of the  Issuer  thereof,  or upon  the  exercise  by the  Issuer  of any  right,
privilege or option  pertaining  to any of the  Collateral,  and, in  connection
therewith,  to  deposit  and  deliver  any and all of the  Collateral  with  any
committee,  depository, transfer agent, registrar or other designated agent upon
such terms and conditions as it may determine,  all without  liability except to
account for property actually received by it; and

            (c) Subject to any requirement of applicable  law, sell,  assign and
deliver the whole or, from time to time,  any part of the Collateral at the time
held by the Pledgee,  at any private sale or at public auction,  with or without
demand,  advertisement  or  notice  of the time or place of sale or  adjournment
thereof or otherwise (all of which are hereby  waived,  except such notice as is
required  by  applicable  law and cannot be  waived),  for cash or credit or for
other  property for immediate or future  delivery,  and for such price or prices
and on such terms as the Pledgee in its sole discretion may determine, or as may
be required by applicable law.

            Each Pledgor  hereby waives and releases any and all right or equity
of redemption,  whether before or after sale hereunder. At any such sale, unless
prohibited by applicable  law, the Pledgee may bid for and purchase the whole or
any  part of the  Collateral  so sold  free  from any such  right or  equity  of
redemption.  All moneys received by the Pledgee  hereunder  whether upon sale of
the Collateral or any part thereof or otherwise shall be held by the Pledgee and
applied by it as provided in Section 10 hereof.  No failure or delay on the part
of the Pledgee in exercising any rights  hereunder  shall operate as a waiver of
any such  rights  nor shall any single or partial  exercise  of any such  rights
preclude  any other or future  exercise  thereof  or the  exercise  of any other
rights  hereunder.  The  Pledgee  shall  have no duty  as to the  collection  or
protection  of  the  Collateral  or  any  income  thereon  nor  any  duty  as to
preservation  of any  rights  pertaining  thereto,  except to apply the funds in
accordance with the requirements of Section 10 hereof.  The Pledgee may exercise
its rights  with  respect to property  held  hereunder  without  resort to other
security for or sources of reimbursement  for the  Indebtedness.  In addition to
the foregoing,  Pledgee shall have all of the rights, remedies and privileges of
a secured party under the Uniform  Commercial Code of New York regardless of the
jurisdiction in which enforcement hereof is sought.

      9. Private Sale. Each Pledgor recognizes that the Pledgee may be unable to
effect (or to do so only after delay which would adversely affect the value that
might be  realized  from  the  Collateral)  a public  sale of all or part of the
Collateral by reason of certain  prohibitions  contained in the Securities  Act,
and may be  compelled  to resort to one or more  private  sales to a  restricted
group of purchasers who will be obliged to agree, among other things, to acquire
such Collateral for their own account, for investment and not with a view to the
distribution or resale  thereof.  Each Pledgor agrees that any such private sale
may be at prices  and on terms  less  favorable  to the  seller  than if sold at
public sales and that such private  sales shall be deemed to have been made in a
commercially  reasonable  manner.  Each  Pledgor  agrees that the Pledgee has no
obligation to delay sale of any  Collateral  for the period of time necessary to
permit  the  Issuer  to  register  the  Collateral  for  public  sale  under the
Securities Act.

      10. Proceeds of Sale. The proceeds of any collection,  recovery,  receipt,
appropriation,  realization  or sale of the  Collateral  shall be applied by the
Pledgee as follows:

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            (a) First,  to the  payment of all costs,  reasonable  expenses  and
charges of the  Pledgee  and to the  reimbursement  of the Pledgee for the prior
payment of such costs,  reasonable  expenses and charges  incurred in connection
with the care and safekeeping of the Collateral (including,  without limitation,
the  reasonable  expenses  of any sale or any  other  disposition  of any of the
Collateral),  the  expenses  of  any  taking,  reasonable  attorneys'  fees  and
reasonable  expenses,  court  costs,  any other  fees or  expenses  incurred  or
expenditures  or  advances  made by Pledgee in the  protection,  enforcement  or
exercise of its rights, powers or remedies hereunder;

            (b) Second, to the payment of the Indebtedness, in whole or in part,
in such order as the Pledgee may elect, whether or not such Indebtedness is then
due;

            (c) Third, to such persons, firms, corporations or other entities as
required by applicable law including,  without limitation,  Section 9-608 of the
UCC; and

            (d)  Fourth,  to the extent of any  surplus to the  Pledgors or as a
court of competent jurisdiction may direct.

            In the event that the proceeds of any collection, recovery, receipt,
appropriation, realization or sale are insufficient to satisfy the Indebtedness,
each Pledgor shall be jointly and severally  liable for the deficiency  plus the
costs and fees of any attorneys employed by Pledgee to collect such deficiency.

      11. Waiver of  Marshaling.  Each Pledgor hereby waives any right to compel
any marshaling of any of the Collateral.

      12. No Waiver.  Any and all of the  Pledgee's  rights with  respect to the
Liens granted under this Agreement shall continue unimpaired,  and Pledgor shall
be and remain obligated in accordance with the terms hereof, notwithstanding (a)
the bankruptcy,  insolvency or reorganization of any Pledgor, (b) the release or
substitution  of any item of the  Collateral  at any time,  or of any  rights or
interests therein, or (c) any delay,  extension of time, renewal,  compromise or
other indulgence granted by the Pledgee in reference to any of the Indebtedness.
Each Pledgor  hereby  waives all notice of any such delay,  extension,  release,
substitution, renewal, compromise or other indulgence, and hereby consents to be
bound hereby as fully and  effectively  as if such Pledgor had expressly  agreed
thereto in advance.  No delay or extension of time by the Pledgee in  exercising
any power of sale, option or other right or remedy hereunder,  and no failure by
the Pledgee to give notice or make demand, shall constitute a waiver thereof, or
limit,  impair or prejudice the Pledgee's  right to take any action  against any
Pledgor or to  exercise  any other  power of sale,  option or any other right or
remedy.

      13. Expenses.  The Collateral shall secure,  and each Pledgor shall pay to
Pledgee  on  demand,  from time to time,  all  reasonable  costs  and  expenses,
(including but not limited to, reasonable  attorneys' fees and costs, taxes, and
all transfer,  recording,  filing and other  charges) of, or incidental  to, the
custody,  care,  transfer,   administration  of  the  Collateral  or  any  other
collateral,   or  in  any  way  relating  to  the  enforcement,   protection  or
preservation  of the rights or remedies of the Pledgee  under this  Agreement or
with respect to any of the Indebtedness.

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<PAGE>

      14. The Pledgee Appointed Attorney-In-Fact and Performance by the Pledgee.
Upon the occurrence  and during the  continuation  of an Event of Default,  each
Pledgor  hereby  irrevocably  constitutes  and  appoints  the  Pledgee  as  such
Pledgor's true and lawful attorney-in-fact,  with full power of substitution, to
execute,  acknowledge  and deliver any  instruments  and to do in such Pledgor's
name, place and stead, all such acts,  things and deeds for and on behalf of and
in the name of such  Pledgor,  which such Pledgor could or might do or which the
Pledgee may deem  necessary,  desirable or convenient to accomplish the purposes
of this Agreement, including, without limitation, to execute such instruments of
assignment or transfer or orders and to register,  convey or otherwise  transfer
title to the Collateral  into the Pledgee's  name.  Each Pledgor hereby ratifies
and confirms all that said  attorney-in-fact  may so do and hereby declares this
power of attorney to be coupled with an interest and irrevocable. If any Pledgor
fails to perform any agreement herein contained,  the Pledgee may itself perform
or cause performance thereof, and any costs and expenses of the Pledgee incurred
in connection  therewith shall be paid by the Pledgors as provided in Section 10
hereof.

      15. Waivers.

            (a) EACH PARTY HERETO HEREBY  EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY
JURY OF ANY  CLAIM,  DEMAND,  ACTION OR CAUSE OF ACTION (A)  ARISING  UNDER THIS
AGREEMENT OR ANY OTHER INSTRUMENT,  DOCUMENT OR AGREEMENT  EXECUTED OR DELIVERED
IN  CONNECTION  HEREWITH,  OR  (B) IN ANY  WAY  CONNECTED  WITH  OR  RELATED  OR
INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OTHER AGREEMENT EXECUTED
OR DELIVERED BY THEM IN CONNECTION HEREWITH,  OR THE TRANSACTIONS RELATED HERETO
OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING,  AND WHETHER
SOUNDING IN CONTRACT OR TORT OR OTHERWISE  AND EACH PARTY HERETO  HEREBY  AGREES
AND CONSENTS THAT ANY CLAIM, DEMAND,  ACTION OR CAUSE OF ACTION SHALL BE DECIDED
BY  COURT  TRIAL  WITHOUT  A JURY,  AND  THAT ANY  PARTY  MAY  FILE AN  ORIGINAL
COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN  EVIDENCE OF THE
CONSENT OF EACH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

      16. Recapture. Notwithstanding anything to the contrary in this Agreement,
if the Pledgee receives any payment or payments on account of the  Indebtedness,
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 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,  common law or equitable  doctrine,
then  to the  extent  of any sum  not  finally  retained  by the  Pledgee,  each
Pledgor's  obligations  to the Pledgee  shall be reinstated  and this  Agreement
shall remain in full force and effect (or be  reinstated)  until  payment  shall
have been made to Pledgee, which payment shall be due on demand.

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<PAGE>

      17.  Captions.  All captions in this  Agreement  are  included  herein for
convenience of reference  only and shall not  constitute  part of this Agreement
for any other purpose.

      18. Miscellaneous.

            (a) This Agreement  constitutes the entire and final agreement among
the parties  with respect to the subject  matter  hereof and may not be changed,
terminated or otherwise  varied except by a writing duly executed by the parties
hereto.

            (b) No waiver of any term or condition of this Agreement, whether by
delay, omission or otherwise, shall be effective unless in writing and signed by
the party sought to be charged,  and then such waiver shall be effective only in
the specific instance and for the purpose for which given.

            (c) In the  event  that  any  provision  of  this  Agreement  or the
application  thereof to any  Pledgor  or any  circumstance  in any  jurisdiction
governing this Agreement shall, to any extent, be invalid or unenforceable under
any applicable  statute,  regulation,  or rule of law, such  provision  shall be
deemed  inoperative  to the extent that it may conflict  therewith  and shall be
deemed  modified to conform to such statute,  regulation or rule of law, and the
remainder  of  this  Agreement  and  the  application  of any  such  invalid  or
unenforceable provision to parties,  jurisdictions,  or circumstances other than
to whom or to which it is held  invalid or  unenforceable  shall not be affected
thereby,  nor shall same  affect the  validity  or  enforceability  of any other
provision of this Agreement.

            (d) This  Agreement  shall be binding  upon each  Pledgor,  and each
Pledgor's  successors and assigns, and shall inure to the benefit of the Pledgee
and its successors and assigns.

            (e) Any notice or other communication required or permitted pursuant
to this  Agreement  shall be given in accordance  with the  Securities  Purchase
Agreement.

            (f) This  Agreement  shall be governed by and construed and enforced
in all respects in accordance  with the laws of the State of New York applied to
contracts to be performed wholly within the State of New York.

            (g) EACH PLEDGOR EXPRESSLY CONSENTS TO THE JURISDICTION AND VENUE OF
EACH COURT OF  COMPETENT  JURISDICTION  LOCATED IN THE STATE OF NEW YORK FOR ALL
PURPOSES IN CONNECTION WITH THIS AGREEMENT.  ANY JUDICIAL PROCEEDING  INVOLVING,
DIRECTLY OR INDIRECTLY ANY MATTER OR CLAIM IN ANY WAY ARISING OUT OF, RELATED TO
OR CONNECTED WITH THIS AGREEMENT  SHALL BE BROUGHT ONLY IN A STATE COURT LOCATED
IN THE COUNTY OF NEW YORK, STATE OF NEW YORK. EACH PLEDGOR FURTHER CONSENTS THAT
ANY SUMMONS, SUBPOENA OR OTHER PROCESS OR PAPERS (INCLUDING, WITHOUT LIMITATION,
ANY NOTICE OR MOTION OR OTHER APPLICATION TO EITHER OF THE AFOREMENTIONED COURTS
OR A JUDGE THEREOF) OR ANY NOTICE IN CONNECTION WITH ANY

                                      -9-
<PAGE>

PROCEEDINGS HEREUNDER,  MAY BE SERVED INSIDE OR OUTSIDE OF THE STATE OF NEW YORK
OR THE SOUTHERN  DISTRICT OF NEW YORK BY  REGISTERED OR CERTIFIED  MAIL,  RETURN
RECEIPT  REQUESTED,  OR BY  PERSONAL  SERVICE  PROVIDED  A  REASONABLE  TIME FOR
APPEARANCE IS PERMITTED, OR IN SUCH OTHER MANNER AS MAY BE PERMISSIBLE UNDER THE
RULES OF SAID COURTS.  EACH PLEDGOR  WAIVES ANY  OBJECTION TO  JURISDICTION  AND
VENUE OF ANY ACTION  INSTITUTED HEREON AND SHALL NOT ASSERT ANY DEFENSE BASED ON
LACK OF JURISDICTION OR VENUE OR BASED UPON FORUM NON CONVENIENS.

            (h) It is  understood  and  agreed  that any  person or entity  that
desires to become a Pledgor  hereunder,  or is required to execute a counterpart
of  this  Stock  Pledge   Agreement  after  the  date  hereof  pursuant  to  the
requirements of any Document,  shall become a Pledgor hereunder by (x) executing
a Joinder  Agreement in form and  substance  satisfactory  to the  Pledgee,  (y)
delivering  supplements  to such  exhibits and annexes to such  Documents as the
Pledgee shall reasonably request and (z) taking all actions as specified in this
Agreement as would have been taken by such Pledgor had it been an original party
to this  Agreement,  in each  case  with  all  documents  required  above  to be
delivered to the Pledgee and with all documents and actions required above to be
taken to the reasonable satisfaction of the Pledgee.

            (i) This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original and all of which when taken  together shall
constitute  one and the same  agreement.  Any signature  delivered by a party by
facsimile transmission shall be deemed an original signature hereto.

                  [Remainder of Page Intentionally Left Blank]

                                      -10-
<PAGE>

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

                                        FAST EDDIE RACING STABLES, INC.

                                        By:
                                        Name:
                                        Title:

                                        COMPLETE INVESTMENT MANAGEMENT INC.
                                        OF PHILADELPHIA

                                        By:
                                        Name:
                                        Title:

                                        PENSION ADMINISTRATION SERVICES, INC.

                                        By:
                                        Name:
                                        Title:

                                        MD BLUESTEIN, INC.

                                        By:
                                        Name:
                                        Title:

                                        DUNCAN CAPITAL FINANCIAL GROUP, INC.

                                        By:
                                        Name:
                                        Title:

                                        LAURUS MASTER FUND, LTD.

                                        By:
                                           -------------------------------------
                                        Name:
                                        Title:EXHIBIT 4.7

                               SUBSIDIARY GUARANTY

New York, New York                                                 March 9, 2005

      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 Fast Eddie Racing Stables,
Inc., a Florida  corporation  ("Debtor"),  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 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 Debtor to Laurus  and of all  instruments  of any nature
evidencing or relating to any such obligations and liabilities upon which Debtor
or one or more  parties  and Debtor is or may become  liable to Laurus,  whether
incurred  by  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,  whether  arising under,  out of, or in connection  with (i)
that certain  Securities  Purchase  Agreement dated as of the date hereof by and
between the Debtor and Laurus (the  "Securities  Purchase  Agreement")  and (ii)
each Related  Agreement  referred to in the Securities  Purchase  Agreement (the
Securities  Purchase  Agreement  and  each  Related  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 otherwise,  or any
other indebtedness,  obligations or liabilities of the Debtor 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  Debtor under Title 11, United
States Code,  including,  without  limitation,  obligations or  indebtedness  of
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  Securities  Purchase  Agreement.  In  furtherance  of  the  foregoing,  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 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

<PAGE>

for any modification of the terms thereof or of any agreement between Laurus and
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 instrument shall be effective  regardless of the subsequent
incorporation,  merger  or  consolidation  of  Debtor,  or  any  change  in  the
composition,  nature,  personnel  or location of Debtor and shall  extend to any
successor  entity to Debtor,  including a debtor in possession or the like under
any Insolvency Law.

      2. Guaranty  Absolute.  Subject to Section 5(c),  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 Debtor 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 Debtor will
contract  additional  indebtedness  for which Guarantors may be liable hereunder
after Debtor's financial  condition or ability to pay its lawful debts when they
fall  due has  deteriorated,  whether  or not  Debtor  has  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 Debtor, have been made by Laurus to induce the
undersigned  to enter into this Guaranty and (ii) any extension of credit to the
Debtor  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,
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 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 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  specific  Obligation  with  respect to which such
payment is due and payable.  Obligations include post-petition  interest whether
or not allowed or allowable.

                                       2
<PAGE>

      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  Debtor  or any other  person
      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  in a
      proceeding  brought by Laurus which the  undersigned may have or which may
      exist between and among Laurus, Debtor and/or the undersigned with respect
      to the undersigned's  obligations under this Guaranty, or which Debtor 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;  provided,
      however,  that the undersigned  shall be entitled to assert any defense or
      counterclaim  in a  separate  proceeding  so long as Laurus is not a named
      party or affected by any such proceeding.

            (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 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 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 Debtor in respect of payments made by the  undersigned
      hereunder,  until all amounts  owing to Laurus by Debtor on account of the
      Obligations  are paid in full and  Laurus'  obligation  to  extend  credit
      pursuant to the Documents have been 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 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

                                       3
<PAGE>

      obligations  of 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 Debtor 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  respectively,
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 organized,  validly existing
      and in good standing under the laws of its  jurisdiction  of  organization
      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 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 to 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.

            (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.

                                       4
<PAGE>

            (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 Debtor to Laurus.

      6. Acceleration.

            (a) If any Event of  Default  (as  defined  in the Note)  shall have
      occurred and be  continuing,  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
      Debtor.

            (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,  provided  that the  outstanding  principal
      amount of such obligations,  taken in the aggregate,  exceeds $25,000 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
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  corporations  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

                                       5
<PAGE>

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 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.

      13. Waiver of Jury Trial.  EACH OF THE UNDERSIGNED DOES HEREBY  KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY  WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR
PROCEEDING  BASED ON OR WITH RESPECT TO THIS GUARANTY OR ANY OF THE TRANSACTIONS
CONTEMPLATED  HEREBY OR RELATING OR  INCIDENTAL  HERETO.  THE  UNDERSIGNED  DOES
HEREBY  CERTIFY  THAT NO  REPRESENTATIVE  OR AGENT OF  LAURUS  HAS  REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT LAURUS WOULD NOT, IN THE EVENT OF LITIGATION,  SEEK
TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION.

      14. Governing Law;  Jurisdiction;  Amendments.  THIS INSTRUMENT  CANNOT BE
CHANGED OR TERMINATED ORALLY,  AND SHALL BE GOVERNED,  CONSTRUED AND INTERPRETED
AS TO VALIDITY,  ENFORCEMENT  AND IN ALL OTHER  RESPECTS IN ACCORDANCE  WITH THE
LAWS OF THE STATE OF NEW YORK WITHOUT  HAVING  EFFECT TO PRINCIPLES OF CONFLICTS
OF LAWS.  EACH OF THE UNDERSIGNED  EXPRESSLY  CONSENTS TO THE  JURISDICTION  AND
VENUE OF THE SUPREME COURT OF THE STATE OF NEW YORK,  COUNTY OF NEW YORK, AND OF
THE UNITED STATES  DISTRICT COURT FOR THE SOUTHERN  DISTRICT OF NEW YORK FOR ALL
PURPOSES IN CONNECTION  HEREWITH.  ANY JUDICIAL  PROCEEDING  BY THE  UNDERSIGNED
AGAINST LAURUS INVOLVING,  DIRECTLY OR INDIRECTLY ANY MATTER OR CLAIM IN ANY WAY
ARISING OUT OF,  RELATED TO OR CONNECTED  HEREWITH  SHALL BE BROUGHT ONLY IN THE
SUPREME COURT OF THE STATE OF NEW YORK,  COUNTY OF NEW YORK OR THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN  DISTRICT OF NEW YORK.  EACH OF THE  UNDERSIGNED
WAIVES ANY OBJECTION TO JURISDICTION AND VENUE OF ANY ACTION  INSTITUTED  HEREON
AND SHALL NOT ASSERT ANY DEFENSE BASED ON LACK OF JURISDICTION OR VENUE OR BASED
UPON FORUM NON CONVENIENS.

      15. 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.

                                       6
<PAGE>

      16. 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.

      17. 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.

      18.  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.

      19.  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 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.

      20. Release.  Nothing except cash payment in full of the Obligations shall
release any of the undersigned from liability under this Guaranty; provided that
this  Guaranty  shall be  released  upon the  provision  by  Laurus  of  written
confirmation  to the Debtor that (x) all  indebtedness  obligations  owed by the
Debtor or any Guarantor to Laurus have been repaid in full  (including,  without
limitation,  all  principal,  interest  and fees  related  to the Note any other
indebtedness  outstanding  at  such  time  and  owed  to  Laurus)  and  (y)  all
commitments  by Laurus to fund any  indebtedness  have been  terminated in their
entirety.

      21.  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

                                       7
<PAGE>

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.

                        [REMAINDER OF THIS PAGE IS BLANK.
                       SIGNATURE PAGE IMMEDIATELY FOLLOWS]

                                       8
<PAGE>

      IN WITNESS  WHEREOF,  this Guaranty has been  executed by the  undersigned
this 10th day of March, 2005.

                                      COMPLETE INVESTMENT MANAGEMENT INC. OF
                                      PHILADELPHIA

                                      By:
                                              ----------------------------------
                                      Name:
                                              ----------------------------------
                                      Title:
                                              ----------------------------------

                                      Address:   100 Gibralter Road, Suite 101,
                                                 Horsham PA 19044

                                      Telephone: 215 441 5800
                                      Facsimile: 215 441 5843
                                      State of Incorporation: Pennsylvania

                                      PENSION ADMINISTRATION SERVICES, INC.

                                      By:
                                              ----------------------------------
                                      Name:
                                              ----------------------------------
                                      Title:
                                              ----------------------------------

                                      Address:   100 Gibralter Road, Suite 101,
                                                 Horsham PA 19044

                                      Telephone: 215 441 5800
                                      Facsimile: 215 441 5843
                                      State of Incorporation: Pennsylvania

                                      MD BLUESTEIN, INC.

                                      By:
                                              ----------------------------------
                                      Name:
                                              ----------------------------------
                                      Title:
                                              ----------------------------------

                                      Address:   100 Gibralter Road, Suite 101,
                                                 Horsham PA 19044

                                      Telephone: 215 441 5800
                                      Facsimile: 215 441 5843
                                      State of Incorporation: Pennsylvania

                                      DUNCAN CAPITAL FINANCIAL GROUP, INC.

                                      By:
                                      Name:
                                      Title:

                                      Address: 830 Third Avenue, 14th Floor,
                                               NY NY 10022

                                      Telephone: 212 581 5850
                                      Facsimile: 212 922 2081
                                      State of Incorporation: Delaware

                                       9

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