Document:

EXHIBIT 4.8

                  THE WARRANT  REPRESENTED BY THIS CERTIFICATE AND THE SHARES OF
COMMON STOCK ISSUABLE UPON EXERCISE  THEREOF HAVE NOT BEEN REGISTERED  UNDER THE
SECURITIES  ACT OF  1933,  AS  AMENDED  (THE  "SECURITIES  ACT")  OR  ANY  STATE
SECURITIES LAW, AND NEITHER THEY NOR ANY INTEREST  THEREIN MAY BE OFFERED,  SOLD
OR  OTHERWISE  TRANSFERRED  EXCEPT  PURSUANT  TO (i) AN  EFFECTIVE  REGISTRATION
STATEMENT,  OR (ii) AN OPINION OF COUNSEL,  IF SUCH OPINION  SHALL BE REASONABLY
SATISFACTORY   TO  COUNSEL  FOR  THIS   CORPORATION,   THAT  AN  EXEMPTION  FROM
REGISTRATION  UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS,
IS AVAILABLE IN CONNECTION WITH SUCH OFFER, SALE OR OTHER TRANSFER.

No. 5

                          COMMON STOCK PURCHASE WARRANT

                            For the purchase of up to
                                   -1,000,000-
                             Shares of Common Stock
                                       of

                                  HYCOMP, INC.

                  This certifies  that,  for value  received,  SIMMONDS  CAPITAL
LIMITED,  an Ontario  corporation  (the "Holder"),  is entitled to purchase from
HYCOMP,  INC., a corporation  organized  under the laws of the  Commonwealth  of
Massachusetts  (the "Company"),  the aggregate number of shares of Common Stock,
at the option of the Holder,  shown above at any time after 9:00 a.m.,  New York
City time, on October 14, 2003 (the "Issue Date") until 5:00 p.m., New York City
time, on the Expiration Date, at a purchase price per share equal to the Warrant
Price.

                  Section 1.  Definitions.  As used in this Warrant,  and unless
the context requires otherwise, the following terms have the meaning indicated:

                  "Common  Stock"  means the Common  Stock of the  Company,  par
value $.01 per share.

                  "Expiration  Date"  means the Fifth  anniversary  of the Issue
Date.

                  "Warrant Price" has the meaning  assigned in Section 8 hereof,
subject to adjustment as provided in Section 9.
<PAGE>

                  "Warrant"  means  this  Warrant,  as the same may be  amended,
supplemented or modified in accordance with the terms hereof.

                  "Warrant  Shares"  means the shares of Common  Stock issued or
issuable upon exercise of this Warrant.

                  Section 2.  Term of Warrant; Exercise of Warrant.

                  2.1 Term of Warrant.  Subject to the terms hereof,  the Holder
shall have the  right,  which may be  exercised  at any time from and after 9:00
a.m.,  New York City time, on the Issue Date and until 5:00 p.m.,  New York City
time, on the  Expiration  Date, to purchase from the Company the number of fully
paid and  nonassessable  Warrant  Shares  which  the  Holder  may at the time be
entitled to purchase on exercise  hereof.  If and to the extent this  Warrant is
not exercised prior to 5:00 p.m., New York City time, on the Expiration Date, it
shall  become  void and all rights  hereunder  and all rights in respect  hereof
shall cease as of such time.

                  2.2  Exercise of Warrant.  The Warrant may be  exercised  upon
surrender to the Company at its office at:

                  67 Wall Street, Suite 2411
                  New York, New York, 10005
                  Attn: Chief Executive Officer

or such other office as the Company shall notify the Holder, in writing, of this
Warrant,  together  with the Purchase Form  included  herein duly  completed and
signed and upon  payment to the Company of the Warrant  Price (as defined in and
determined in accordance  with the  provisions of Sections 8 and 9 hereof),  for
the  number of Warrant  Shares in  respect  of which this  Warrant is then being
exercised.

                  Unless  otherwise  agreed to by the  Company,  all payments of
such Warrant  Price shall be made by certified or official bank check payable to
the order of the Company.

                  Subject to Section 3 hereof, upon the surrender of the Warrant
and payment of the Warrant  Price as  aforesaid,  the Company  shall cause to be
issued and delivered with all  reasonable  dispatch to or upon the written order
of the  Holder  and in  such  name or  names  as the  Holder  may  designate,  a
certificate or  certificates  for the number of full Warrant Shares so purchased
upon the exercise of this Warrant, together with cash, as provided in Section 10
hereof,  in respect of any  fractional  Warrant Shares  otherwise  issuable upon
surrender.  If permitted by applicable  law, such  certificate  or  certificates
shall be deemed to have been  issued  and any person so  designated  to be named
therein shall be deemed to have become a holder of record of such Warrant Shares
as of the date of the  surrender  of this  Warrant  and  payment of the  Warrant
Price, as aforesaid. Each share of Common Stock that may be issued upon exercise
of this  Warrant  will,  upon such  issuance,  be validly  issued,  fully  paid,
nonassessable,  and free from all taxes,  liens and charges  with respect to the
issue  thereof.  The rights of purchase  represented  by this  Warrant  shall be
exercisable,  at the  election  of the Holder  hereof  (subject  to Section  2.1
hereof), either in full or from time to time in part and, in the event that this
Warrant  is  exercised  in  respect  of  less  than  all of the  Warrant  Shares
purchasable  on such  exercise at any time prior to

                                      -2-

<PAGE>

the  Expiration  Date,  a new  Warrant  evidencing  the  right to  purchase  the
remaining Warrant Shares will be issued.

                  Section  3.  Payment  of  Taxes.  The  Company  will  pay  all
documentary stamp and other taxes, if any,  attributable to the initial issuance
of Warrant Shares upon the exercise hereof; provided,  however, that the Company
shall not be required to pay any tax or other  governmental  charge which may be
payable in respect of any  transfer  involved  in the issue or  delivery  of any
certificates or certificates for Warrant Shares in a name other than that of the
Holder,  and the Company  shall not register any such transfer or issue any such
certificate until such tax or governmental charge, if required,  shall have been
paid.

                  Section  4.   Transfer.   Subject  to   compliance   with  the
restrictions on transfer set forth herein and subject to Section 3, this Warrant
shall be  transferable  upon delivery of the Warrant duly endorsed by the Holder
or by his duly authorized  attorney or representative,  or accompanied by proper
evidence of  succession,  assignment  or authority to transfer.  In all cases of
transfer by an attorney,  the original power of attorney,  duly  approved,  or a
copy thereof, duly certified, shall be deposited and remain with the Company. In
case  of  transfer  by  executors,  administrators,  guardians  or  other  legal
representatives,  duly  authenticated  evidence  of  their  authority  shall  be
produced, and may be required to be deposited and remain with the Company in its
discretion.

                  Section 5.  Exchange of Warrant  Certificates.  Subject to the
restrictions  on  transfer  contained  herein  and to such  requirements  as the
Company may reasonably  request to ensure  compliance  with applicable law, this
Warrant may be exchanged for another  certificate or certificates  entitling the
Holder  hereof to  purchase a like  aggregate  number of Warrant  Shares as this
Warrant  shall then entitle the Holder to  purchase.  The Holder shall make such
request in writing  delivered to the Company,  and shall surrender this Warrant,
properly endorsed.  Thereupon,  the Company shall countersign and deliver to the
Holder a new certificate or certificates, as the case may be, as so requested.

                  Section 6. Mutilated or Missing Warrants. In case this Warrant
shall be  mutilated,  lost,  stolen  or  destroyed,  the  Company  shall  issue,
countersign  and deliver in exchange or  substitution  hereof,  a new Warrant of
like tenor and representing an equivalent  right or interest,  but only upon, in
case this Warrant is lost, stolen or destroyed,  receipt of evidence  reasonably
satisfactory to the Company of such loss,  theft or destruction and a reasonable
indemnity  therefor.  The Holder  shall also comply  with such other  reasonable
regulations and pay such other reasonable charges as the Company may prescribe.

                  Section  7.   Reservation  of  Warrant  Shares;   Purchase  of
Warrants.

                  7.1 Reservation of Warrant  Shares.  The Company shall reserve
out of its  authorized  Common  Stock the  number of shares of Common  Stock set
forth on the first page hereof for issuance upon  exercise of this Warrant.  The
Company shall at all times hereafter until the Expiration Date keep reserved out
of its authorized Common Stock, for issuance upon exercise of this Warrant,  all
of the shares not  theretofore  issued  upon such  exercise.  If at any time the
number of shares of  authorized  Common Stock shall not be  sufficient to effect
the exercise of this Warrant, the Company will take such corporate action as may
be necessary to
                                      -3-

<PAGE>

increase its authorized but unissued  Common Stock,  to such number of shares as
shall be sufficient for such purpose.

                  Section 8.  Warrant  Price.  Subject to Section 9 hereof,  the
price at which  Warrant  Shares shall be  purchasable  upon exercise of Warrants
(the "Warrant Price) shall be $3.00 per share.

                  Section 9.  Adjustment  of Warrant Price and Number of Warrant
Shares. The number and kind of securities  purchasable upon the exercise of this
Warrant and the Warrant Price shall be subject to  adjustment  from time to time
upon the happening of certain  events,  in each case  occurring on and after the
date hereof, as hereinafter described.

                  9.1 Adjustment.  The number and kind of securities purchasable
upon the  exercise of this  Warrant  and the  Warrant  Price shall be subject to
adjustment as follows:

                  (a) In  case  the  Company  shall  (i) pay a  dividend  on its
outstanding Common Stock in shares of Common Stock or make a distribution to all
holders  of its  outstanding  Common  Stock in  shares  of  Common  Stock,  (ii)
subdivide its outstanding shares of Common Stock into a greater number of shares
of Common  Stock,  (iii) combine its  outstanding  shares of Common Stock into a
smaller  number of shares of Common Stock or (iv) issue by  reclassification  of
its shares of Common Stock other  securities of the Company  (including any such
reclassification  in  connection  with a  consolidation  or  merger in which the
Company is the surviving corporation),  the number of Warrant Shares purchasable
upon  exercise  hereof  immediately  prior thereto shall be adjusted so that the
Holder upon exercise  hereof shall be entitled to receive the kind and number of
such Warrant Shares or other securities of the Company which it would have owned
or have been  entitled  to  receive  after the  happening  of any of the  events
described  above  had  this  Warrant  been  exercised  immediately  prior to the
happening of such event or any record date with respect  thereto.  An adjustment
made pursuant to this  paragraph  (a) shall become  effective on the date of the
dividend payment, subdivision, combination or issuance retroactive to the record
date with respect thereto, if any, for such event. Such adjustment shall be made
successively whenever such an issuance is made.

                  (b) In case the Company shall distribute to all holders of its
outstanding  Common Stock evidences of its  indebtedness or assets or securities
other than such Common Stock (excluding  regular cash dividends and dividends or
distributions  referred  to in  paragraph  (a)  above)  or  rights,  options  or
warrants,  or convertible or  exchangeable  securities,  containing the right to
subscribe for or purchase  shares of Common Stock,  then in each case the number
of Warrant Shares thereafter purchasable upon the exercise of this Warrant shall
be  determined  by  multiplying  the number of such Warrant  Shares  theretofore
purchasable  upon the  exercise  of this  Warrant  by a  fraction,  of which the
numerator  shall be the then current  market price per share of Common Stock (as
determined  in  accordance  with  paragraph  (d)(3)  below)  on the date of such
distribution,  and of which the  denominator  shall be the then  current  market
price  per  share of  Common  Stock,  less  the then  fair  value  per  share of
outstanding  Common  Stock  (as  determined  by the  Board of  Directors  of the
Company, whose good faith determination shall be conclusive) of the evidences of
indebtedness,  assets or securities so distributed or of such rights, options or
warrants,  or of such  convertible or exchangeable  securities.  Such adjustment
shall be made  successively  whenever any such  distribution  is made, and shall
become effective on the date of

                                      -4-
<PAGE>

distribution   retroactive  to  the  record  date  for  the   determination   of
shareholders entitled to receive such distribution.  No further adjustment shall
be made for the actual issuance of Common Stock upon the conversion, exercise or
exchange of any rights,  options,  warrants  or other  securities  in respect of
which adjustment has been made pursuant to this paragraph (b).

                  (c)  After the  Common  Stock is first  traded  on a  national
securities  exchange  (including the NASDAQ Stock  Market),  in case the Company
shall  issue  shares of Common  Stock (or  rights,  options,  warrants  or other
securities  convertible  into or exercisable or  exchangeable  for Common Stock)
(excluding  (i)  shares of Common  Stock  issued in or as a result of any of the
transactions  described  in  paragraph  (a) or (b) above,  (ii) shares of Common
Stock issuable upon exercise of stock options or similar rights granted or to be
granted to  directors,  employees,  consultants,  contractors  or other  agents,
representatives  or  professionals  of the Company pursuant to a stock option or
similar plan approved by the shareholders of the Company, (iii) shares of Common
Stock issued to directors,  employees,  consultants,  contractors,  licensees or
other agents,  representatives  or  professionals of the Company pursuant to any
compensation plan or agreement approved by the shareholders of the Company, (iv)
shares of Common  Stock issued  pursuant to a dividend or interest  reinvestment
plan,  or (v) shares of Common Stock issued in a public  offering at a price per
share that is not less than 95% of the then current market price) at a price per
share below the then current market price,  then in each such case the number of
Warrant Shares thereafter purchasable upon the exercise of this Warrant shall be
determined by multiplying the number of Warrant Shares  theretofore  purchasable
upon the exercise of this Warrant by a fraction, the numerator of which shall be
the number of shares of Common Stock  outstanding  on the date of such  issuance
(including  the shares of Common Stock issued on the date of such  issuance) and
the  denominator  of which shall be an amount  equal to the sum of (i) the total
number of shares of Common Stock outstanding  immediately prior to such issuance
plus (ii) the number of shares which the  aggregate  consideration  received for
such  issuance  would  purchase at the current  market price per share of Common
Stock (as determined in accordance  with paragraph  (d)(3) below) at such record
date.

                  (d)  (1) For the  purposes  of  paragraph  (c)  above,  if the
Company shall issue any security,  option, warrant or other right which directly
or  indirectly  may be converted  into or  exercised or exchanged  for shares of
Common Stock, the Common Stock issuable upon conversion, exercise or exchange of
such  securities or rights shall  thereupon be deemed to have been issued and to
be  outstanding,  and the  relevant  price  per  share of  Common  Stock and the
consideration  received by the Company upon conversion,  exercise or exchange of
such   securities  or  rights  shall  be  deemed  to  include  the  sum  of  the
consideration  received  for the issuance of such  securities  or rights and the
minimum  additional  consideration  payable  upon the  conversion,  exercise  or
exchange of such securities or rights.  No further  adjustment shall be made for
the actual issuance of Common Stock upon the conversion, exercise or exchange of
any such security or right.

                    (2) For purposes of paragraph (c) above, the following shall
also be  applicable:  In case the Company shall issue shares of its Common Stock
for a  consideration  wholly  or  partly  other  than  cash,  the  amount of the
consideration  other than cash received by the Company shall be deemed to be the
fair value of such  consideration  as  determined  in good faith by the Board of
Directors of the Company.  Consideration received by the Company for issuance

                                      -5-
<PAGE>

of its Common Stock shall be determined in all cases without deduction therefrom
of any expenses,  underwriting commissions or concessions incurred in connection
therewith.

                    (3) For the purpose of any  computation  under paragraph (b)
or (c) of this Section,  the "current market price per share" of Common Stock at
any date shall be the  average of the daily  closing  prices for 20  consecutive
trading days commencing 30 trading days before the date of such computation. The
"closing price" for each day shall be the last such reported sales price regular
way or, in case no such  reported  sale takes place on such day,  the average of
the closing bid and asked  prices  regular way for such day, in each case on the
principal national  securities  exchange on which the shares of Common Stock are
listed or admitted  to trading  or, if not listed or  admitted  to trading,  the
average  of the  high  bid and low  asked  prices  of the  Common  Stock  in the
over-the-counter  market as reported by NASDAQ or any comparable  system. In the
absence of one or more such  quotations,  the Board of  Directors of the Company
shall in good faith  determine  the  current  market  price on the basis of such
quotations or formula as it considers appropriate,  which determination shall be
conclusive.

                 (e) In any case  in which this  Section 9.1 shall  require that
any  adjustment  in the  number  of  Warrant  Shares  be  made  effective  as of
immediately  after a record date for a specified event, the Company may elect to
defer until the occurrence of the event the issuing to the Holder of the Warrant
Shares or other capital stock of the Company issuable upon the exercise over and
above the Warrant Shares or other capital stock of the Company issuable upon the
exercise of this Warrant prior to such adjustment;  provided,  however, that the
Company shall deliver to the Holder a due bill or other  appropriate  instrument
evidencing  the  Holder's  right to  receive  such  additional  shares  upon the
occurrence of the event requiring such adjustment.

                 (f) No  adjustment in the number of Warrant Shares  purchasable
hereunder shall be required unless such adjustment  would require an increase or
decrease  of at  least  one  percent  (1%)  in  the  number  of  Warrant  Shares
purchasable  upon the  exercise of this  Warrant;  provided,  however,  that any
adjustments  which by reason of this  paragraph  (f) are not required to be made
shall be carried  forward and taken into account in any  subsequent  adjustment.
All calculations shall be made to the nearest one one-hundredth of a share.

                 (g)  Whenever  the  number  of shares  of  the  Warrant  Shares
purchasable  upon the  exercise  of this  Warrant is  adjusted,  as  provided in
paragraph  (a),  (b) or (c) of this  Section,  the Warrant  Price  payable  upon
exercise of this Warrant  shall be adjusted by  multiplying  such Warrant  Price
immediately prior to such adjustment by a fraction, of which the numerator shall
be the number of Warrant  Shares  purchasable  upon the exercise of this Warrant
immediately prior to such adjustment,  and of which the denominator shall be the
number of such Warrant  Shares  purchasable  immediately  thereafter;  provided,
however, that in no event shall the Warrant Price be less than the par value, if
any, of a share of Common Stock.

                 (h) No adjustment in the  number of Warrant Shares  purchasable
upon the  exercise  of this  Warrant  need be made under  paragraph  (b) of this
Section if the Company issues or distributes to the Holder the rights,  options,
warrants,  convertible or exchangeable securities,  evidences of indebtedness or
assets referred to in those paragraphs which the Holder would have been entitled
to receive had the Warrant been  exercised  prior to the happening of such event
or

                                      -6-
<PAGE>

the record date with respect thereto. No adjustment need be made for a change in
the par value of the Warrant Shares.

                 (i) For the purpose of  this  subsection  9.1, the term "shares
of Common  Stock",  shall mean (i) the class of stock  designated  as the Common
Stock of the Company, par value $.01 per share, or (ii) any other class of stock
resulting  from  successive  changes  or  reclassifications  of such  respective
classes of shares  consisting  solely of changes in par value, or from par value
to no par  value,  or from no par value to par  value.  In the event that at any
time,  as a result of an adjustment  made  pursuant to paragraph (a) above,  the
Holder shall become  entitled to purchase  any  securities  other than shares of
Common Stock, thereafter the number of such other securities so purchasable upon
exercise  of this  Warrant  and the Warrant  Price of such  securities  shall be
subject  to  adjustment  from  time to time in a manner  and on terms as  nearly
equivalent as practicable  to the provisions  with respect to the Warrant Shares
contained in paragraphs (a) through (h), inclusive, above, and the provisions of
Section 3 and  subsections  9.2  through  9.6,  inclusive,  with  respect to the
Warrant Shares, shall apply on like terms to any such other securities.

                 9.2  Notice of  Adjustment.   Whenever  the  number of  Warrant
Shares  purchasable  upon the exercise of this  Warrant or the Warrant  Price of
such Warrant Shares is adjusted, as herein provided,  the Company shall promptly
mail by first class, postage prepaid, to the Holder notice of such adjustment or
adjustments.

                 9.3  No  Adjustment  for  Dividends.  Except  as   provided  in
subsection  9.1, no adjustment in respect of any dividends or other  payments or
distributions  made to holders of  securities  shall be made  during the term of
this Warrant or upon the exercise of this Warrant.

                 9.4    Preservation    of   Purchase   Rights   upon    Merger,
Consolidation,  etc. In case of any  consolidation of the Company with or merger
of the Company  with or into another  entity  (whether or not the Company is the
surviving  corporation)  or in case of any sale,  transfer  or lease to  another
entity of all or substantially  all the property of the Company,  the Company or
such successor or purchasing  corporation,  as the case may be, shall execute an
agreement  that the Holder shall have the right  thereafter  upon payment of the
Warrant  Price in  effect  immediately  prior to such  action to  purchase  upon
exercise of this  Warrant the kind and amount of  securities,  cash and property
which it would have owned or have been  entitled to receive  after the happening
of such  consolidation,  merger,  sale,  transfer or lease had this Warrant been
exercised  immediately  prior  to  such  action.  Upon  the  execution  of  such
agreement, this Warrant shall be exercisable only for such securities,  cash and
property. The Company shall furnish to the Holder notice of the execution of any
such agreement. Such agreement shall provide for adjustments,  which shall be as
nearly equivalent as may be practicable to the adjustments  provided for in this
Section  9. The  provisions  of this  subsection  9.4 shall  similarly  apply to
successive consolidations, mergers, sales, transfers or leases.

                 9.5 Other  Adjustment.  If any  event occurs as to which in the
reasonable  opinion of the Holder,  in good faith,  the other provisions of this
Section 9 are not  strictly  applicable  but the lack of any  adjustment  of the
number or kind of  securities  issuable  upon  exercise of this  Warrant and the
Warrant Price would not in the opinion of the Holder  fairly  protect the rights
of the  Holder  in  accordance  with the basic  intent  and  principles  of such

                                      -7-

<PAGE>

provisions, or if strictly applicable would not fairly protect the rights of the
Holder in accordance  with the basic intent and  principles of such  provisions,
then the Holder may appoint a firm of independent  certified public  accountants
of recognized  national  standing (which may be the independent  auditors of the
Company),  which shall give their  opinion  upon the  necessity  and form of any
required  adjustment to the number of Warrant  Shares  issuable upon exercise of
this Warrant and the Warrant Price, on a basis  consistent with the basic intent
and principles  established in the other  provisions of this Section 9 necessary
to preserve,  without dilution,  the exercise rights of the Holder. Upon receipt
of such opinion,  the Company shall  forthwith  make the  adjustments  described
therein.

                  9.6 Statement on Warrant.  Irrespective  of any adjustments in
the  Warrant  Price or the  number or kind of  securities  purchasable  upon the
exercise of this  Warrant,  this  Warrant may continue to express the same price
and number and kind of shares as are stated herein.

                  Section 10.  Fractional  Interests.  The Company  shall not be
required to issue fractional Warrant Shares on the exercise of this Warrant.  If
(a) any fraction of a Warrant  Share would,  except for the  provisions  of this
Section 10, be issuable on the  exercise of this Warrant (or  specified  portion
thereof),  and (b) the Holder shall have paid the amount due upon such  exercise
with respect to such  fractional  share,  then the Company  shall return to such
Holder the amount so paid with respect to such fractional Warrant Share.

                  Section 11.  Registration under the Securities Act. The Holder
represents  and warrants to the Company that it will not dispose of this Warrant
or  any  Warrant  Shares  except  pursuant  to  (i)  an  effective  registration
statement, or (ii) an opinion of counsel, reasonably satisfactory to counsel for
the Company,  that the  proposed  disposition  of the Warrant or Warrant  Shares
would not be in violation of the registration requirements of the Securities Act
or any state  securities  laws.  The Holder  represents  and warrants that it is
acquiring  the Warrant and will  acquire the Warrant  Shares for its own account
and with no  intention  of  distributing  or  reselling  this Warrant or Warrant
Shares or any part thereof in any transaction  that would be in violation of the
registration requirements of the securities laws of the United States of America
or any state,  without prejudice,  however,  to its rights,  consistent with the
provisions of this Warrant,  to sell or otherwise  dispose of all or any part of
this Warrant or any Warrant  Shares under an  effective  registration  statement
under the Securities Act or under an exemption from such registration  available
under the Securities Act.

                  Section 12.  Certificates to Bear Legends.  The Warrant Shares
or other  securities  issued upon exercise of this Warrant shall be subject to a
stop-transfer  order and the  certificate  or  certificates  evidencing any such
Warrant Shares or securities shall bear the following legend by which the Holder
thereof shall be bound:

                  "THE  SHARES  [OR  OTHER   SECURITIES]   REPRESENTED  BY  THIS
CERTIFICATE  HAVE NOT BEEN  REGISTERED  UNDER  THE  SECURITIES  ACT OF 1933,  AS
AMENDED (THE "SECURITIES ACT") OR ANY STATE SECURITIES LAW, AND NEITHER THEY NOR
ANY  INTEREST  THEREIN  MAY BE OFFERED,  SOLD OR  OTHERWISE  TRANSFERRED  EXCEPT
PURSUANT  TO (i) AN  EFFECTIVE  REGISTRATION  STATEMENT,  OR (ii) AN  OPINION OF
COUNSEL  REASONABLY  SATISFACTORY  TO  COUNSEL  FOR  THIS  CORPORATION,  THAT AN
EXEMPTION

                                      -8-
<PAGE>

FROM REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS
IS AVAILABLE IN CONNECTION WITH SUCH OFFER, SALE OR OTHER TRANSFER. HEDGING
TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT."

                  Section  13. No Rights as  Shareholders;  Notices to  Holders.
Nothing  contained in this Warrant  shall be  construed as  conferring  upon the
Holder  the right to vote or to  receive  dividends  or to consent or to receive
notice as a shareholder in respect of any meeting of shareholders of the Company
for the election of the  directors  of the Company or any matter,  or any rights
whatsoever as a shareholder of the Company.  If,  however,  at any time prior to
the  expiration of this Warrant and prior to its exercise,  any of the following
events shall occur:

                  (a) the Company shall declare any dividend  payable in cash or
         in any  securities  upon  its  shares  of  Common  Stock  or  make  any
         distribution to the holders of its shares of Common Stock;

                  (b) the  Company  shall  offer to all holders of its shares of
         Common  Stock  any  additional  shares of  Common  Stock or  securities
         convertible  into or  exchangeable  for  shares of Common  Stock or any
         right to subscribe for or purchase any thereof; or

                  (c) a  dissolution,  liquidation  or winding up of the Company
         (other than in connection with a consolidation,  merger, sale, transfer
         or  lease  of all or  substantially  all of its  property,  assets  and
         business as an entirety) shall be proposed;

then in any one or more of said  events the  Company  shall  give  notice to the
Holder as provided in Section 14 hereof,  such giving of notice to be  completed
at  least  10 days  prior  to the  record  date in the  event  of a  transaction
described  in clause (a) above and at least 20 days prior to the record  date in
the case of a  transaction  referred  to in clause  (b) or (c) above  fixed as a
record date or the date of closing the transfer books for the  determination  of
the  shareholders  entitled  to such  dividend,  distribution,  or  subscription
rights,  or for the  determination of the shareholders  entitled to vote on such
proposed dissolution,  liquidation or winding up. Such notice shall specify such
record  date or the date of  closing  the  transfer  books,  as the case may be.
Failure to mail or receive  such notice or any defect  therein or in the mailing
thereof  shall not affect the  validity of any action taken in  connection  with
such  dividend,   distribution   or  subscription   rights,   or  such  proposed
dissolution, liquidation or winding up.

                  Section 14. Notices. Any notice pursuant to this Warrant shall
be in writing and shall be given by first class,  registered or certified  mail,
return receipt requested,  telecopy, courier service or personal delivery, if to
the Company, at:

         67 Wall Street, Suite 2411
         New York, New York  10005
         Attn: Chief Executive Officer

(or such other address as shall be  communicated by the Company to the Holder by
notice in  accordance  with this  Section  14),  and if to the  Holder,  at such
address  as shall be  communicated
                                      -9-

<PAGE>

by the Holder to the Company by notice in  accordance  with this Section 14 (or,
in the absence of such notice, at such address as otherwise appears on the books
and records of the Company).

                  Section 15. Supplements and Amendments. The provisions of this
Warrant may not be amended, modified or supplemented,  and waiver or consents to
departures  from the  provisions  hereof may not be given,  without  the written
consent of the Holder.

                  Section 16.  Successors.  All the covenants and  provisions of
this  Warrant by or for the benefit of the Company and the Holder shall bind and
inure to the  benefit  of their  respective  successors  and  permitted  assigns
hereunder,  provided that the Company may not assign its rights and  obligations
hereunder except by operation of law.

                  Section 17.  Applicable Law. This Warrant shall be governed by
and  construed  in  accordance  with the laws of the State of New York,  without
giving  effect to principles  of conflicts of laws.  The United States  District
Court for the  Southern  District  of New York or the courts of the State of New
York  shall have  jurisdiction  in any action or  proceeding  arising  out of or
relating to this Warrant.

                  Section  18.  Benefits  of  this  Agreement.  Nothing  in this
Warrant  shall be  construed  to give to any  person  or entity  other  than the
Company and the Holder, any legal or equitable right, remedy or claim under this
Warrant.

                  Section  19.  Captions.  The  captions  of  the  Sections  and
subsections  of this Warrant have been inserted for  convenience  only and shall
have no substantive effect.

                  IN WITNESS WHEREOF, this Warrant has been duly executed, as of
October 14, 1999.

                                   HYCOMP, INC.

                                   By:/s/ Paul K. Hickey
                                   ----------------------------------
                                   Name:    Paul K. Hickey
                                   Title:   Chairman and Chief Executive Officer

                                      -10-
<PAGE>

                                   ASSIGNMENT

                (To be executed only upon assignment of Warrant)

                  For  value  received, _________________________ hereby  sells,
assigns and transfers unto ______________________________ this Warrant, together
with  all  right,  title  and  interest  therein,  and does  hereby  irrevocably
constitute and appoint ______________________________ attorney, to transfer this
Warrant on the books of the  within-named  Company with respect to the number of
Warrant Shares set forth below, with full power of substitution:

           Name(s) of                                                No. of
           Assignee(s)                 Address                  Warrant Shares

                  And if said  number  of  Warrant  Shares  shall not be all the
Warrant Shares  issuable upon exercise of this Warrant,  a new certificate is to
be issued  in the name of said  undersigned  for the  balance  remaining  of the
Warrant Shares issuable upon exercise of this Warrant.

                  Dated:                        , 19____

_____________________________
                              NOTE:         The    above    signature     should
                                            correspond  exactly with the name on
                                            the face of this Warrant.

                                      -11-
<PAGE>

                                SUBSCRIPTION FORM

                    (To be executed upon exercise of Warrant)

HyComp, Inc.:

                  The  undersigned  hereby  irrevocably  elects to exercise  the
right of purchase  represented  by this Warrant for, and to purchase  hereunder,
______________  shares of Common  Stock,  as provided  for  herein,  and tenders
herewith  payment  of the  exercise  price  in  full  in the  form  of cash or a
certified or official bank check in the amount of $____________.

                  Please issue a certificate or certificates  for such shares of
Common Stock in the name of:

         Name:__________________________
                                        Address:________________________________

                                        ________________________________________

                                   Social Security Number:  ____________________

         And if said number of shares shall not be all the shares issuable under
this Warrant,  a new certificate is to be issued in the name of said undersigned
for the balance remaining of the shares issuable thereunder.

         Signature:________________________
                              NOTE:         The    above    signature     should
                                            correspond  exactly with the name on
                                            the first  page of this  Warrant  or
                                            with  the   name  of  the   assignee
                                            appearing  in  the  assignment  form
                                            above.

                                      -12-EXHIBIT 10.1

                            STOCK PURCHASE AGREEMENT

                                 by and between

                            SIMMONDS CAPITAL LIMITED
                                       and

                                  HYCOMP, INC.

                             relating to all of the
                            outstanding capital stock

                                       of

                               EIEIHOME.COM, INC.

                                   dated as of

                                October 14, 1999

<PAGE>

                            STOCK PURCHASE AGREEMENT

         This Stock Purchase  Agreement (the  "Agreement") is entered into as of
October  14,  1999,  by  and  between  SIMMONDS  CAPITAL  LIMITED,   an  Ontario
corporation (the "Seller") and HYCOMP,  INC., a corporation  organized under the
laws of the Commonwealth of Massachusetts (the "Buyer" or "HyComp").

         WHEREAS,  Seller owns  120,000  shares of common  stock,  no par value,
constituting  all of the  issued  and  outstanding  shares of  capital  stock of
EieiHome.com, Inc. an Ontario corporation (the "Company"); and

         WHEREAS, Seller desires to sell to Buyer, and Buyer desires to purchase
from Seller all of the  Securities  upon the terms and subject to the conditions
set forth herein.

         NOW,  THEREFORE,  in consideration of the foregoing and on the basis of
the respective representations,  warranties, covenants, agreements, undertakings
and obligations set forth herein,  and intending to be legally bound hereby, the
parties agree as follows:

                                    ARTICLE 1

                       PURCHASE AND SALE OF THE SECURITIES

         1.1 Purchase and Sale of Securities.  Upon the terms and subject to the
conditions  set forth in this  Agreement,  at the Closing (as defined in Section
2), Buyer agrees to purchase and accept delivery from Seller,  and Seller agrees
to sell, assign,  transfer and deliver to Buyer, all of the Securities,  free of
all  liens,  pledges,  mortgages,  security  interests,  charges,  restrictions,
adverse claims or other  encumbrances of any kind  whatsoever  ("Encumbrances"),
for the consideration specified in Section 1.2.

         1.2  Consideration;  Payment.  At the Closing,  in full payment for the
Securities, Buyer shall deliver to Seller:

                  (a) 7,500,000   validly    authorized,    fully   paid   and
non-assessable shares of HyComp common stock, $0.01 par value per share ("HyComp
Shares"), free and clear of any Encumbrances;

                  (b) A demand  promissory  note in the amount of U.S.  $500,000
(the "Note"), in the form attached as Exhibit 1 to this Agreement;

                  (c) A convertible  debenture in the  principal  amount of U.S.
$2,000,000  ("Debenture"),  convertible into HyComp Shares at a conversion price
of $1.00 per share  (subject to  adjustment  as provided  therein),  in the form
attached as Exhibit 2 to this Agreement.

                  (d) Five year warrants  (the  "Warrants  issued  pursuant to a
warrant agreement (the "Warrant Agreement") in the form attached as Exhibit 3 to
this  Agreement  for the purchase of an aggregate  of  5,000,000  HyComp  Shares
(subject to adjustment as provided  therein,  as follows:  (i) 1,000,000  HyComp
Shares at an exercise price of $1.00 per share exercisable

                                      -2-
<PAGE>

immediately after the Closing; (ii) 1,000,000 HyComp Shares at an exercise price
of $1.50 per share exercisable after one year from the Closing;  (iii) 1,000,000
HyComp  Shares at an  exercise  price of $2.00 per share  exercisable  after two
years after the Closing;  (iv)  1,000,000  HyComp Shares at an exercise price of
$2.50 per share  exercisable  after  three  years  after  the  Closing;  and (v)
1,000,000  HyComp  Shares at an  exercise  price of $3.00 per share  exercisable
after four years after the Closing.

                                    ARTICLE 2

                                     CLOSING

      2.1 Closing.  The purchase and sale of the  Securities  will take place at
the offices of Kramer,  Levin,  Naftalis & Frankel  LLP, 919 Third  Avenue,  New
York, New York 10022, at 4:00p.m.  on the date hereof, or at such other time and
place as the parties may agree (the "Closing").

      2.2 Closing Obligations. At the Closing:

            (a)   Seller shall deliver,  or cause to be delivered,  to Buyer the
                  following:

                  (i)      Certificates   representing   the  Securities,   duly
                           endorsed in blank (or  accompanied  by duly  executed
                           blank  stock  powers)  and  all  other  documents  or
                           instruments,   including,   any  and  all   necessary
                           transfer  stamps  which are  necessary to vest all of
                           Seller's  right,  title and  interest in and into the
                           Securities in Buyer;

                  (ii)     The  Warrant  Agreement  duly  executed  on behalf of
                           Seller; and

                  (iii)    Such other documents as Buyer may reasonably require.

            (b)   Buyer shall deliver,  or cause to be delivered,  to Seller the
                  following:

                  (i)      Certificates representing HyComp Shares in accordance
                           with   Article   1,  duly   endorsed   in  blank  (or
                           accompanied  by duly executed blank stock powers) and
                           all other  documents or instruments,  including,  any
                           and all necessary transfer stamps which are necessary
                           to vest all of Buyer's  right  title and  interest in
                           and into the HyComp Shares in Seller;

                  (ii)     The Note,  Debenture,  the Warrant  Agreement and the
                           Warrants,  each duly executed on behalf of Buyer,  in
                           accordance with Article 1 of this Agreement; and

                  (iii)    Such  other   documents  as  Seller  may   reasonably
                           require.

            (c)   The parties  shall  mutually  agree to the terms of a two year
                  management  services  agreement in accordance with Section 2.3
                  of this Agreement.

                                      -3-
<PAGE>

      2.3 Management Service Agreement. Upon the Closing, Seller and Buyer shall
enter into a management  services agreement in the form attached as Exhibit 4 to
this  Agreement  (the  "Management  Services  Agreement"  and together with this
Agreement,  the Note, the Debenture, the Warrants and the Warrant Agreement, the
"Transaction Documents"), pursuant to which Seller shall provide to Buyer senior
management,  finance,  personnel,  business  development and investor  relations
services.

                                    ARTICLE 3

                    REPRESENTATIONS AND WARRANTIES OF SELLER

      3. Representations and Warranties of Seller and Company. Seller represents
and warrants to Buyer as follows:

      3.1 Organization and Good Standing.

            (a)  Each  of the  Seller  and the  Company  is a  corporation  duly
organized  and validly  existing  under the laws of Ontario,  Canada and has all
requisite  corporate or other power and  authority to enter into this  Agreement
and perform its obligations hereunder.

            (b) The  execution,  delivery and  performance of this Agreement and
the other  Transaction  Documents by Seller,  and the transactions  contemplated
hereby,  including the sale of the Securities  pursuant  hereto,  have been duly
authorized  by all necessary  corporate or other action  required on the part of
Seller and Company.  This  Agreement  has been duly  executed  and  delivered by
Seller.  This  Agreement  constitutes,  and when duly  executed and delivered by
Seller,  the Warrant  Agreement  and the  Management  Services  Agreement,  will
constitute the legal, valid and binding obligation of Seller enforceable against
Seller in  accordance  with  their  respective  terms,  subject  to  bankruptcy,
insolvency and other similar laws relating to or affecting the enforceability of
creditors' rights generally, and to general principles of equity.

      3.2 Securities.

            (a) The  Securities  constitute  all of the issued  and  outstanding
capital  stock of the  Company,  as more fully set forth in Section  3.4 of this
Agreement.

            (b)  Seller  has good and valid  title to the  Securities,  free and
clear of any  Encumbrances,  and  Seller  shall  deliver to Buyer good and valid
title to the Securities free and clear of any Encumbrances.

            (c) The Securities are owned of record and  beneficially  by Seller.
Seller has sole power of  disposition  with respect to the  Securities,  with no
restrictions,  subject to United States and other applicable securities laws, on
Seller's rights of disposition pertaining thereto.

      3.3 Authority; No Conflict.

            (a)  The  execution  and  delivery  of  this   Agreement  and  other
Transaction Documents by Seller, and the sale of the Securities pursuant hereto,
have been duly authorized by all necessary corporate or other action required on
the part of Seller. This Agreement has

                                      -4-
<PAGE>

been duly executed and delivered by Seller and constitutes the legal,  valid and
binding obligation of Seller  enforceable  against Seller in accordance with its
terms,  subject to bankruptcy,  insolvency and other similar laws relating to or
affecting the  enforceability  of creditors'  rights  generally,  and to general
principles of equity.

            (b) The  execution,  delivery and  performance of this Agreement and
other  Transaction  Documents by Seller,  and the  consummation by Seller of the
transactions  contemplated  hereby,  will not (i)  conflict  with or violate the
organizational  documents  of  Seller or the  Company,  or (ii)  conflict  with,
violate,  result in the breach of any term of,  constitute a default  under,  or
require  the  consent  of or any  notice  to or filing  with any third  party or
governmental authority under, any agreement or instrument to which Seller or the
Company  is a  party  or any  law,  order,  rule,  regulation,  decree,  writ or
injunction  of any  governmental  body  having  jurisdiction  over Seller or the
Company or their respective  properties,  except for such consents or filings as
have been obtained or made.

      3.4 Capitalization of the Company. The authorized equity securities of the
Company consist of an unlimited  number of shares of common stock, no par value,
of which  120,000  shares  are issued and  outstanding.  All of the  outstanding
equity  securities of the Company have been duly  authorized  and validly issued
and are fully paid and  nonassessable.  There are no  outstanding  or authorized
options, warrants, calls, rights,  commitments,  conversion rights or agreements
of any  character  to which the  Company  is a party or by which the  Company is
bound which  could  require the  Company to issue,  deliver,  sell or  otherwise
transfer or cause to be issued, delivered, sold, transferred or offered for sale
or  transfer,  any  shares  of  capital  stock  of  the  Company  or  securities
convertible  into or exchangeable  for shares of capital stock of the Company or
that could  require the Company to grant,  extend or enter into any such option,
warrant,  call, right,  commitment,  conversion right or agreement.  None of the
outstanding  equity securities or other securities of the Company were issued in
violation  of  the  United  States  Securities  Act of  1933,  as  amended  (the
"Securities  Act") or any other  applicable  legal  requirement.  the Company is
under no obligation to register any of its securities  under the securities laws
of any  jurisdiction.  No person has any  preemptive  rights with respect to any
security of the Company.

      3.5 Financial Statements; No Undisclosed Liabilities.

            (a) The financial  statements of the Company dated as of and for the
periods ended June 30, 1999 (the "Company  Financial  Statements")  are true and
correct in all material  respects have been prepared in accordance with Canadian
generally  accepted  accounting  principles and accurately present the financial
condition  and results of  operation  of the Company as of the dates and for the
periods set forth therein.

            (b)  Except  as and to  the  extent  (i)  reflected  in the  Company
Financial Statement, or (ii) set forth on Schedule I (the "Disclosure Schedule")
attached  to this  Agreement,  the  Company  does  not  have  any  liability  or
obligation,  which individually or in the aggregate is material to the business,
operations, assets or financial condition of the Company.

      3.6 Books and Records. Except as disclosed in the Disclosure Schedule, the
books of account and other  records of the Company,  all of which have been made
available to Buyer,

                                      -5-
<PAGE>

are true and correct. Except as disclosed in the Disclosure Schedule, the minute
books of the Company  contain true,  correct and, since June 22, 1999,  complete
records  of  all  meetings  held  of,  and   corporate   action  taken  by,  the
shareholders,  the Board of Directors,  and committees of the Board of Directors
of the  Company.  At the  Closing,  all of such books and records will be in the
possession of the Company.

      3.7 Brokers or Finders.  Except as disclosed in the  disclosure  schedule,
Seller and its agents have incurred no  obligation  or liability,  contingent or
otherwise, for brokerage or finders' fees or agents' commission or other similar
payment in connection  with this  Agreement or other  transactions  contemplated
hereby.

      3.8 Investment Representations. Seller acknowledges that the HyComp Shares
issuable by the Buyer at the Closing,  upon  conversion of the Debenture or upon
exercise of the Warrants (i) have not been registered  under the Securities Act,
or any state securities laws, and cannot be sold or otherwise disposed of except
in a transaction  registered  under the Securities Act and any applicable  state
securities laws, or that is exempt from such  registration,  and (ii) so long as
required by law,  each  certificate  representing  the HyComp Shares will bear a
legend to the following effect:

            "THE  SECURITIES  REPRESENTED  BY THIS  CERTIFICATE  HAVE  NOT  BEEN
            REGISTERED  UNDER  THE  SECURITIES  ACT OF  1933,  AS  AMENDED  (THE
            "SECURITIES  ACT"),  OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT
            BE SOLD OR  OTHERWISE  DISPOSED OF EXCEPT  PURSUANT TO AN  EFFECTIVE
            REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE
            SECURITIES  LAWS OR PURSUANT  TO AN  APPLICABLE  EXEMPTION  FROM THE
            REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS."

                  (b)  Seller,   together  with  its  officers,   directors  and
advisors,  has such knowledge and  experience in financial and business  matters
that it is capable of evaluating the merits and risks of the  acquisition of the
HyComp Shares.

                  (c) The HyComp Shares are being acquired by Seller for its own
account and not for any other person or entity,  for investment only and with no
intention of  distributing or reselling (and will not distribute or resell) such
HyComp Shares or any part thereof or interest  therein in any  transaction  that
would  violate the  registration  requirements  of the  Securities  Act or other
applicable securities laws.

                                    ARTICLE 4

                     REPRESENTATIONS AND WARRANTIES OF BUYER

         4.  Representations  and  Warranties  of Buyer.  Buyer  represents  and
warrants to Seller as follows:

         4.1      Organization and Good Standing.

                                      -6-
<PAGE>

                  (a) Buyer is a corporation duly organized and validly existing
under  the  laws of the  Commonwealth  of  Massachusetts  and has all  requisite
corporate or other power and authority to enter into this  Agreement and perform
its obligations hereunder.

                  (b) The execution,  delivery and performance of this Agreement
and the other  Transaction  Documents  by  Buyer,  and the  consummation  of the
transactions contemplated hereby including the purchase of the Securities of the
Company pursuant hereto, have been duly authorized by all necessary corporate or
other  action  required  on the part of  Buyer.  This  Agreement  has been  duly
executed and delivered by Buyer. This Agreement constitutes,  and when the other
Transaction  Documents are executed and delivered by Buyer such  documents  will
constitute, the legal, valid and binding obligation of Buyer enforceable against
Buyer  in  accordance  with  their  respective  terms,  subject  to  bankruptcy,
insolvency and other similar laws relating to or affecting the enforceability of
creditors' rights generally, and to general principles of equity.

         4.2      Securities.

                  (a) Buyer has good and valid title to the HyComp Shares,  free
and clear of any Encumbrances,  and Buyer shall deliver to Seller good and valid
title to the HyComp Shares free and clear of any Encumbrances.

                  (b) The HyComp Shares issuable by Buyer upon conversion of the
Debenture and the exercise of the Warrants will be valid,  free and clear of any
Encumbrances,  and upon  conversion  of the  Debenture  and the  exercise of the
Warrants,  Buyer  shall  deliver  to Seller  good and valid  title to the HyComp
Shares free and clear of any  Encumbrances.  The HyComp Shares issuable pursuant
to subparagraph (a) above are owned of record and  beneficially by Buyer.  Buyer
has sole  power of  disposition  with  respect  to the  HyComp  Shares,  with no
restrictions,  subject to United States and other applicable securities laws, on
Buyer's rights of disposition pertaining thereto.

         4.3      Authority; No Conflict.

                  (a) The  execution  and delivery of this  Agreement  and other
Transaction  Documents by Buyer,  and the issuance of the HyComp Shares pursuant
hereto,  have been duly  authorized by all  necessary  corporate or other action
required  on the part of  Buyer.  This  Agreement  has been  duly  executed  and
delivered by Buyer and  constitutes the legal,  valid and binding  obligation of
Buyer  enforceable  against  Buyer in  accordance  with its  terms,  subject  to
bankruptcy,  insolvency  and other  similar laws  relating to or  affecting  the
enforceability  of creditors'  rights  generally,  and to general  principles of
equity.

                  (b) The execution,  delivery and performance of this Agreement
and other  Transaction  Documents by Buyer, and the consummation by Buyer of the
transactions  contemplated  hereby,  will not (i)  conflict  with or violate the
organizational documents of Buyer, or (ii) conflict with, violate, result in the
breach of any term of,  constitute a default under, or require the consent of or
any notice to or filing with any third party or  governmental  authority  under,
any agreement or instrument to which Buyer is a party or any law,  order,  rule,
regulation,

                                      -7-
<PAGE>

decree,  writ or injunction of any governmental  body having  jurisdiction  over
Buyer or its respective properties,  except for such consents or filings as have
been obtained or made.

         4.4  Capitalization of Buyer. The authorized equity securities of Buyer
consist of (i) 20,000,000  shares of common stock,  $.01 par value per share, of
which  10,197,070  shares  are  issued and  outstanding;  (ii)  2,000  shares of
non-voting 8% convertible  redeemable preferred stock, $100 par value per share,
of which 53 shares  are  currently  issued and  outstanding  but which are to be
either  redeemed or converted on or before  November 10. All of the  outstanding
equity  securities of the Buyer have been duly authorized and validly issued and
are fully paid and  nonassessable.  There are  options  outstanding  to purchase
850,000  shares  of  common  stock of Buyer,  exercisable  at $.013  per  share,
pursuant  to Buyer's  1985 Stock  Option Plan (the "1985  Plan").  Except as set
forth in the preceding  sentence  pursuant to the 1985 Plan,  there are no other
outstanding  or  authorized  options,  warrants,  calls,  rights,   commitments,
conversion rights or agreements of any character to which Buyer is a party or by
which  Buyer is bound  which  could  require  Buyer to issue,  deliver,  sell or
otherwise  transfer  or cause to be  issued,  delivered,  sold,  transferred  or
offered for sale or transfer, any shares of capital stock of Buyer or securities
convertible  into or  exchangeable  for shares of capital stock of Buyer or that
could  require  either  Buyer to grant,  extend or enter  into any such  option,
warrant,  call, right,  commitment,  conversion right or agreement.  None of the
outstanding  equity  securities  or other  securities  of Buyer  were  issued in
violation  of  the  United  States  Securities  Act of  1933,  as  amended  (the
"Securities Act") or any other legal  requirement.  Buyer is under no obligation
to register any of its securities under the Securities Act or securities laws of
any other jurisdiction.  No person has any preemptive rights with respect to any
security of Buyer.

         4.5      Balance Sheet; Absence of Undisclosed Liabilities.

                  (a) The balance sheet of Buyer, dated as of September 30, 1999
and attached  hereto as Exhibit 5 (the "Balance  Sheet"),  fairly and accurately
reflects the financial condition of Buyer as of the date thereof, and

                  (b) Except as and to the extent (i)  reflected and reserved on
the Balance Sheet, or (ii) set forth on Disclosure  Schedule attached hereto, as
of the date of this Agreement,  Buyer does not have any liability or obligation,
secured or  unsecured,  whether  accrued,  absolute,  contingent,  unasserted or
otherwise,  which  individually  or in the  aggregate is material to Buyer.  For
purposes of this Section 4.5, "material" means any amount in excess of $20,000.

         4.6 Product Liability and Recalls.  Without limiting the representation
contained in Section 4.5, except as disclosed in the Disclosure Schedule,

                  (a) There is no claim,  and Buyer is not aware of the basis of
any claim,  against  Buyer for injury to person or property of  employees or any
third parties suffered as a result of the  manufacture,  sale or distribution of
any product or the performance of any service by Buyer, including claims arising
out of the  allegedly  defective  or  unsafe  nature  of the  products  sold  or
distributed by Buyer;

                  (b) There is no pending  or, to the best  knowledge  of Buyer,
threatened  recall or investigation of any product sold or distributed by Buyer;
and

                                      -8-
<PAGE>

                  (c) There are no liabilities of, or threatened claims against,
Buyer for (i) product  returns,  (ii)  warranty  obligations,  or (iii)  product
services.

         4.7      No Activities. Except as set forth in the Disclosure Schedule,

                  (a) Since the sale of assets to Satcon Technology Corporation,
a Delaware  corporation  ("Satcon")  on April 12, 1999,  Buyer has engaged in no
business  activity  other than incident to such sale,  the  settlement of claims
identified on the Disclosure  Schedule and the maintenance of Buyer's  corporate
existence, and

                  (b) Buyer is not a party to any  contract,  agreement or other
arrangement, whether or not in writing, that requires any payment or performance
by Buyer after the date of this Agreement.

         4.8 Absences of Reporting  Obligations.  Buyer is not now and has never
in the past been subject to the reporting  obligations of Section 13 or 15(d) of
the United  States  Securities  Exchange  Act of 1934,  as  amended,  or similar
securities laws of any other jurisdiction.

         4.9 Books and Records.  Except as disclosed in the Disclosure Schedule,
the books of account  and other  records  of Buyer,  all of which have been made
available to Seller, are true and correct. Except as disclosed in the Disclosure
Schedule,  the minute books of Buyer contain true,  correct and,  since February
29, 1984,  complete  records of all meetings held of, and corporate action taken
by, the  shareholders,  the Board of Directors,  and  committees of the Board of
Directors of Buyer. The stock books of Buyer are true, accurate and complete. At
the Closing, all of such books and records will be in the possession of Buyer.

         4.10  Brokers  or  Finders.  Except  as  disclosed  in  the  Disclosure
Schedule,  Buyer and its  agents  have  incurred  no  obligation  or  liability,
contingent or otherwise, for brokerage or finders' fees or agents' commission or
other similar  payment in connection  with this Agreement or other  transactions
contemplated hereby.

         4.11     Investment Representations.

                  (a) Buyer  acknowledges  that (i) the Securities have not been
registered under the Securities Act, or any state securities laws, and cannot be
sold or  otherwise  disposed  of except in a  transaction  registered  under the
Securities Act and any applicable  state securities laws, or that is exempt from
such  registration,  and  (ii) so  long as  required  by law,  each  certificate
representing the Securities will bear a legend to the following effect:

                  "THE SECURITIES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED  UNDER THE  SECURITIES ACT OF 1933, AS AMENDED (THE
                  "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE AND MAY
                  NOT BE SOLD OR  OTHERWISE  DISPOSED  OF EXCEPT  PURSUANT TO AN
                  EFFECTIVE  REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
                  APPLICABLE  STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE
                  EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
                  ACT AND SUCH LAWS."

                                      -9-
<PAGE>

                  (b) Buyer, together with its officers, directors and advisors,
has such knowledge and  experience in financial and business  matters that it is
capable of evaluating the merits and risks of the acquisition of the Securities.

                  (c) The  Securities  are being  acquired  by Buyer for its own
account and not for any other person or entity,  for investment only and with no
intention of  distributing or reselling (and will not distribute or resell) such
Securities or any part thereof or interest therein in any transaction that would
violate the registration  requirements of the Securities Act or other applicable
securities laws.

         4.12 Reservation of Shares. Buyer shall at all times reserve out of its
authorized  and unissued  shares of capital  stock  sufficient  HyComp Shares to
provide for the conversion of the Debenture and the exercise of the Warrants.

                                    ARTICLE 5

                          INDEMNIFICATION AND REMEDIES

         5.       Indemnification; Remedies

         5.1      By Seller.

                  (a) Seller hereby agrees promptly upon demand to indemnify and
hold harmless Buyer and its affiliates and their respective officers,  director,
employees and agents against all claims, damages, losses, liabilities, costs and
expenses  (including,  without  limitation,  settlement  costs  and  any  legal,
accounting  or other  expenses for  investigating  or  defending  any actions or
threatened  actions)  reasonably  incurred by such persons in connection with or
arising out of each and all of the following:

                        (i)   Any  breach  by  Seller  or  any  representations,
                              warranty of Seller in this Agreement;

                        (ii)  Any   breach  of  any   covenant,   agreement   or
                              obligation of Seller contained in this Agreement;

                        (iii) The operation of the business of the Company prior
                              to the Closing; and

                        (iv)  Any claim by any person for  brokerage or finder's
                              fees or commissions or similar payments based upon
                              any  agreement  or  understanding  alleged to have
                              been made by any such  person  with  Seller or the
                              Company  in  connection   with  the   transactions
                              contemplated hereby.

         5.2      Indemnification by Buyer.

                  (a) Buyer hereby agrees  promptly upon demand to indemnify and
hold  harmless  Seller  and  its  affiliates  and  their  respective   officers,
directors,   employees  and  agents

                                      -10-
<PAGE>

against all claims, damages, losses, liabilities, costs and expenses (including,
without limitation, settlement costs and any legal, accounting or other expenses
for  investigating  or defending any actions or threatened  actions)  reasonably
incurred by such persons, in connection with each and all of the following:

                        (i)   Any  breach  by  Buyer  of any  representation  or
                              warranty of Buyer in this Agreement;

                        (ii)  Any   breach  of  any   covenant,   agreement   or
                              obligation of Buyer  contained in this  Agreement;
                              and

                        (iii) Any claim by any person for  brokerage or finder's
                              fees or commissions or similar payments based upon
                              any  agreement  or  understanding  alleged to have
                              been  made  by  any  such  person  with  Buyer  in
                              connection  with  the  transactions   contemplated
                              hereby.

         5.3 Claims for  Indemnification.  Whenever  any claim  shall  arise for
indemnification  hereunder the party seeking  indemnification  (the "Indemnified
Party"),  shall promptly  notify the party from whom  indemnification  is sought
(the "Indemnifying  Party") of the claim and, when known, the facts constituting
the basis for such  claim.  In the event of any such  claim for  indemnification
hereunder resulting from or in connection with any claim or legal proceedings by
a third-party, the notice to the Indemnifying Party shall specify, if known, the
amount or an  estimate of the amount of the  liability  arising  therefrom.  The
Indemnified  Party shall not settle or compromise any claim by a third party for
which it is  entitled to  Indemnification  hereunder  without the prior  written
consent of the Indemnifying Party, which shall not be unreasonably withheld. The
Indemnifying  Party shall not settle or  compromise  any such claim  unless such
settlement  or  compromise  is without any cost to, and  provides for a full and
unconditional release of, the Indemnified Party.

         5.4 Defense of Indemnifying  Party. In connection with any claim giving
rise to indemnity  hereunder resulting from or arising out of any claim or legal
preceding by a third-party,  the Indemnifying Party at its sole cost and expense
may, upon written  notice to the  Indemnified  Party,  assume the defense of any
such  claim  or  legal  proceeding  with  counsel  of its  choice  who  shall be
reasonably  acceptable to the  Indemnified  Party. In such case, the Indemnified
Party shall be entitled to  participate  in (but not control) the defense of any
such claim or legal proceeding,  with its counsel and at its own expense. If the
Indemnifying  Party  does not  assume  the  defense  of any such  claim or legal
proceeding within thirty (30) days after the date the Indemnified Party delivers
notice of such claim to the Indemnifying  Party, (a) the Indemnified  Party may,
upon written  notice to the  Indemnifying  Party,  defend  against such claim or
legal  proceeding with counsel of its choice who shall be reasonably  acceptable
to the Indemnifying  Party, at the cost and expense of the  Indemnifying  Party,
payable to the Indemnified Party on demand as incurred, and (b) the Indemnifying
Party shall be entitled to  participate in (but not control) the defense of such
claim or legal proceeding, with its counsel and at its own cost and expense.

                                    ARTICLE 6

                                      -11-
<PAGE>

                                  MISCELLANEOUS

         6.1 Further  Assurances.  By its signature hereto,  each party consents
and agrees to all of the  transactions  contemplated  hereby.  Each party hereto
shall execute,  deliver, file and record any and all instruments,  certificates,
agreements  and  other  documents,  and  take  any and  all  other  actions,  as
reasonably  requested  by any  other  party  hereto in order to  consummate  the
transactions contemplated hereby.

         6.2 Notices.  All notices,  requests,  demands and other communications
hereunder  shall be in  writing  and shall be deemed to have been duly  given or
made if (i) sent by  registered or certified  mail,  return  receipt  requested,
postage prepaid,  (ii) hand delivered,  (iii) sent by prepaid overnight carrier,
with a record  of  receipt  or (iv)  sent by  facsimile  (with  confirmation  of
receipt), to the parties at the following address (or at such other addresses as
shall be specified by the parties by like notice):

                  (i)      To Buyer:
                           HyComp, Inc.
                           67 Wall Street, Suite 2411
                           New York, New York  10005
                           Attn: Chief Executive Officer

                  (ii)     To Seller:
                           Simmonds Capital Limited
                           580 Granite Court
                           Pickering, Ontario  L1W 3Z4
                           CANADA
                           Attention:  John G. Simmonds

                  with a copy to:
                  Kramer, Levin, Naftalis & Frankel LLP
                  919 Third Avenue
                  New York, New York  10022
                  Attention:  Scott S. Rosenblum, Esq.

Each  notice or other  communication  shall be deemed to have been  given on the
date received.

         6.3.  Successors.  This Agreement shall be binding upon and shall inure
to the benefit of the parties hereto and their respective successors,  permitted
assigns, personal representatives, heirs, executors and estates.

         6.4  Severability.  Any provision in this Agreement which is prohibited
or  unenforceable  in  any  jurisdiction  shall,  as to  such  jurisdiction,  be
ineffective to the extent of such prohibition or  unenforceability  at such time
without  invalidating the remaining  provisions hereof, and any such prohibition
or  unenforceability  in any  jurisdiction  at such time shall not invalidate or
render  unenforceable  such provision in any other  jurisdiction  or in the same
jurisdiction  at any other time,  so long as the economic or legal  substance of
the transactions  contemplated  hereby is not affected in any manner  materially
adverse to any party.  To the extent  permitted by

                                      -12-
<PAGE>

applicable  law, the parties hereto waive any provision of law which renders any
provision hereof prohibited or unenforceable in any respect.

         6.5.  Amendment;  Waiver;  Extension  Waiver.  This  Agreement  may  be
amended, supplemented or otherwise modified only by the written agreement of the
parties  hereto.  Any  waiver of any  provision  of this  Agreement  shall be in
writing  and  executed  by the  parties  hereto,  and any such  waiver  shall be
effective  only for the  specific  purpose  for  which  it is given  and for the
specific  time period,  if any,  contemplated  therein.  The parties  hereto may
extend the time for the  performance of any of the  obligations or other acts of
the other parties  hereto,  waive any  inaccuracies in the  representations  and
warranties  contained  herein or in any document  delivered  pursuant hereto and
waive compliance with any of the agreements or conditions  contained herein. Any
agreement on the part of a party hereto to any such extension or waiver shall be
valid only if set forth in a written instrument singed on behalf of all parties.

         6.6  Counterparts.  This Agreement may be executed in both counterparts
each of which when so executed and delivered shall be deemed an original and all
of which taken  together shall  constitute one agreement.  This Agreement may be
delivered  by  facsimile  transmission  with the same effect as if  delivered in
person.

         6.7 Waiver of Jury Trial.  The parties  hereto  hereby  unconditionally
waive  trial  by  jury  in any  suit,  action  or  proceeding  relating  to this
Agreement.

         6.8 Specific Performance. Each party hereto recognizes and acknowledges
that a breach by such party of any  covenants  or  agreements  contained in this
Agreement will cause the other party to sustain damages for which they would not
have an  adequate  remedy at law for money  damages,  and  therefore  each party
agrees  that in the event of any such  breach the  non-breaching  party shall be
entitled to the remedy of specific  performance  of such  covenant and agreement
and  injunctive  and other  equitable  relief in addition to any other remedy to
which such non-breaching party may be entitled, at law or in equity, without the
posting of any bond and without proving that damages would be inadequate.

         6.9 Governing Law. This Agreement shall be governed by and construed in
accordance  with  the  internal  laws of the  State of New  York  applicable  to
contracts made and to be wholly performed within such State,  without  reference
to principles of conflicts of laws.

         6.10   Jurisdiction;   Venue.   The  parties  hereto   irrevocably  and
unconditionally submit to the jurisdiction of any State or Federal court sitting
in the City of New  York,  Borough  of  Manhattan,  over  any  suit,  action  or
proceeding arising out of or relating to this Agreement. Service of any process,
summons,  notice  or  document  by  registered  mail  addressed  to any party as
provided in Section  6.2 hereof  shall be  effective  service of process for any
suit,  action or proceeding  brought  against such party in any such court.  The
parties hereto irrevocably and unconditionally waive any objection to the laying
of venue of any such suit,  action or  proceeding  brought in any such court and
any claim that any such suit, action or proceeding brought in any such court has
been brought in an inconvenient  forum. A final judgment in any suit,  action or
proceeding  brought in any such court shall be  conclusive  and binding upon the
parties and may be enforced in any other courts to whose jurisdiction a party is
or may be subject, by suit upon such judgment.

                                      -13-
<PAGE>

         6.11 Entire  Agreement;  Interpretation.  This  Agreement and the other
Transaction  Documents contain the entire agreement between the parties relating
to the  subject  matter  hereof and  supersedes  all oral  statements  and prior
writings with respect thereto.  The headings contained in this Agreement are for
reference  purposes  only  and  shall  not  affect  in any  way the  meaning  or
interpretation  of this  Agreement.  A reference  to a gender in this  Agreement
shall be interpreted to include the masculine,  feminine  and/or neutral gender,
as applicable.

         6.12 Certain Costs and Expenses.  Except as expressly  provided in this
Agreement,  each party to this Agreement shall bear its representative  expenses
incurred in connection with the  preparation,  execution and performance of this
Agreement, including all fees and expenses of agents,  representatives,  counsel
and accountants.

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

                             SELLER:

                             SIMMONDS CAPITAL LIMITED

                             By:      /s/ John G. Simmonds
                                      -------------------------------------
                                      Name:  John G. Simmonds
                                      Title: Chairman, President and Chief
                                             Executive Officer

                             BUYER:

                             HYCOMP, INC.

                             By:      /s/ Paul K. Hickey
                                      ---------------------------------------
                                      Name:  Paul K. Hickey
                                      Title: Chairman and Chief Executive
                                             Officer

                                      -14-
<PAGE>

                                   SCHEDULE I

                               DISCLOSURE SCHEDULE

Upon the Closing (as therein  defined) of the Stock  Purchase  Agreement  by and
between  SIMMONDS  CAPITAL  LIMITED  and  HYCOMP,  INC.  relating  to all of the
outstanding  capital stock of  EIEIHOME.COM,  INC. dated as of October 14, 1999,
HyComp,  Inc. has agreed to issue  Lawrence Fox 500,000  shares of HyComp,  Inc.
common stock, par value $0.01 per share.

                                      -15-
<PAGE>

                                                                       Exhibit 1

                             Form of Promissory Note
                             -----------------------

                                      -16-
<PAGE>

                                                                       Exhibit 2

                                Form of Debenture
                                -----------------

                                      -17-
<PAGE>

                                                                       Exhibit 3

                                 Form of Warrant
                                 ---------------

                                      -18-
<PAGE>

                                                                       Exhibit 4

                      Form of Management Services Agreement
                      -------------------------------------

                                      -19-
<PAGE>

                                                                       Exhibit 5

                          Balance Sheet of HyComp, Inc.
                          -----------------------------

                                      -20-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}]]