Document:

Unassociated Document

    

    

    

    Date: June
      2,
      2006

    

    To:
       Innofone.com,
      Incorporated

    

    From:
       Cogent
      Capital Financial LLC

    

    

    

    

    SUBJECT:
      EQUITY SWAP TRANSACTION

    

    

    

    The
      purpose of this communication is to set forth the terms and conditions of the
      Swap transaction entered into on the Trade Date referred to below (the "Swap
      Transaction"), between Cogent Capital Financial LLC, a Delaware Limited
      Liability Company ("Cogent" or “we”) and Innofone.com, Incorporated, a Nevada
      corporation ("INFN", “Counterparty” or “you”). This communication constitutes a
      "Confirmation" as referred to in the ISDA Master Agreement specified
      below.

    

    This
      Confirmation incorporates the definitions and provisions contained in the 2002
      ISDA Equity Derivatives Definitions as published by the International Swaps
      and
      Derivatives Association, Inc. (the "Equity Definitions"). In the event of any
      inconsistency between the Definitions and this Confirmation, this Confirmation
      will govern.

    

    1.
      This
      Confirmation will supplement, form a part of, and be subject to the ISDA Master
      Agreement dated as of June 2, 2006 between INFN and Cogent (the “Master
      Agreement”). All provisions contained in, or incorporated by reference to, the
      Master Agreement shall govern this Confirmation except as expressly modified
      below. In the event of any inconsistency between the provisions of that Master
      Agreement and this Confirmation, this Confirmation shall prevail for the purpose
      of this Swap Transaction. In addition, this Confirmation shall itself evidence
      a
      complete and binding agreement between you and us as to the terms and conditions
      of the Swap Transaction to which this Confirmation relates.

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    Cogent
      and INFN each represents that entering into the Swap Transaction is authorized
      and does not violate any laws of its jurisdiction of organization or residence
      or the terms of any agreement to which it is a party. Cogent and INFN each
      represents that (i) it is not relying on the other party in connection with
      its
      decision to enter into this Swap Transaction, and neither party is acting as
      an
      advisor or fiduciary of the other party in connection with this Swap Transaction
      regardless of whether the other party provides it with market information or
      its
      views; (ii) it understands the risks of the Swap Transaction and any legal,
      regulatory, tax, accounting and economic consequences resulting therefrom;
      and
      (iii) it has determined based upon its own judgment and upon any advice received
      from its own professional advisors as it has deemed necessary to consult that
      entering into the Swap Transaction is appropriate for such party in light of
      its
      financial capabilities and objectives.

    

    2.
      The
      terms of the particular Transaction to which this Confirmation relates are
      as
      follows:

    

    General
      Terms:

     

    
      	 	Trade Date:	June 2,
              2006
	 	 	 
	 	Effective
              Date: 	June 2,
              2006
	 	 	 
	 	
              Termination
                Date:

            	
              The
                later of: (i) December 2, 2010 and (ii) the 30th
                day after the Calculation Agent has determined that the Resale Condition
                (as defined below) has been satisfied with respect to all of the
                Equity
                Shares (as defined below) or, if such day is not an Exchange Business
                Day,
                the first Exchange Business Day thereafter; provided that, if the
                Preferred Stock (as defined below) has been redeemed by INFN, then
                the
                Termination Date shall be the redemption date for the Preferred
                Stock.

            
	 	 	 
	 	
              Shares:

            	
              Innofone.com,
                Incorporated common shares (“INFN”) CUSIP number
                45768R305

            
	 	 	 
	 	
              Exchange:

            	
              The
                primary exchange on which the shares are traded

            
	 	 	 
	 	
              Related
                Exchange(s):

            	
              The
                primary exchange on which listed options or futures on the Shares
                are
                traded.

            
	 	 	 
	 	
              Knock-in
                Event:

            	
              Applicable.
                The “Knock-in Event” shall occur at the time that the disbursements
                contemplated by Section 2 of the Escrow Agreement (as defined in
                the
                Schedule to the Master Agreement) have been completed, but only if
                such
                disbursements are completed on or before the Knock-in Determination
                Day.

            
	 	 	 
	 	
              Knock-in
                Determination Day:

            	
              July
                2, 2006

            
	 	 	 
	 	
              Knock-out
                Event:

            	
              Applicable.
                The “Knock-out Event” shall occur if the INFN has exercised its right to
                optionally redeem all of INFN’s Series A non-voting, convertible preferred
                stock (the “Preferred Stock”) as of the “Optional Redemption Date”
                specified in the Certificate of Designations therefor.

            
	 	 	 

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	 	
              Knock-out
                Price:

            	
              The
                “Knock-Out Price” shall equal the Final Price as of the Termination Date
                (which shall be the Optional Redemption Date of the Preferred Stock)
                and
                shall be determined in the manner provided below (including the use
                of
                Averaging as specified below).

            
	 	 	 
	 	
              Knock-out
                Reference Security:

            	
              Innofone.com,
                Incorporated shares (“INFN”)

            
	 	 	 
	 	
              Knock-out
                Determination Day(s):

            	
              June
                2, 2008

            
	 	 	 
	 	
              Knock-out
                Valuation Time:

            	
              The
                closing time on the Exchange

            
	 	 	 
	 Equity
              Amounts	 
	 	 	 
	 	
              Equity
                Amount Payer:

            	
              Cogent

            
	 	 	 
	 	
              Equity
                Amount Receiver:

            	
              Counterparty

            
	 	 	 
	 	
              Equity
                Amount:

            	
              An
                amount determined by the Calculation Agent as of the Valuation Time
                on the
                Valuation Date equal to the product of the Equity Notional Amount
                as of
                the day and the Rate of Return, provided that, if the Equity Amount
                is a
                negative number, then the Equity Amount Receiver will pay (in addition
                to
                any other amounts payable by the Equity Amount Receiver) to the Equity
                Amount Payer the absolute value of the Equity Amount on the Termination
                Date.

            
	 	 	 
	 	
              Number
                of Shares:

            	
              37,500,000
                (subject to reduction as provided below)

            
	 	 	 
	 	
              Equity
                Notional Amount:

            	
              Number
                of Shares multiplied by the Initial Price

            
	 	 	 
	 	
              Equity
                Notional Reset:

            	
              Inapplicable

            
	 	 	 
	 	
              Type
                of Return:

            	
              Price
                Return

            
	 	 	 
	 	
              Initial
                Price:

            	
              $1.333333
                per Share, subject to adjustment under the “Adjustments” provisions set
                forth below.

            
	 	 	 
	 	
              Final
                Price:

            	
              For
                any Valuation Date, the average of the Relevant Prices for the Averaging
                Dates relating to that Valuation Date.

            
	 	 	 
	 	
              Valuation
                Time:

            	
              The
                closing time on the Exchange

            
	 	 	 

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    
      	 	
              Valuation
                Date:

            	
              The
                Termination Date

            
	 	 	 
	 	
              Averaging
                Dates:

            	
              For
                any Valuation Date, the ten trading days up to and including that
                Valuation Date

            
	 	 	 
	 	
              Averaging
                Date Disruption:

            	
              Modified
                Postponement

            
	 	 	 
	 	
              Relevant
                Price:

            	
              For
                each Averaging Date, the average of the bid and ask price per Share
                as
                determined by the Calculation Agent at the Valuation Time on that
                Averaging Date.

            
	 	 	 
	 Interim
              Equity Amounts:	 
	 	 	 
	 	
              General:

            	
              For
                each reduction in the Number of Shares that occurs before the Termination
                Date (each, a “Share Reduction”), the aggregate amount of Shares equal to
                that reduction shall be the “Share Reduction Amount” and an interim
                settlement amount (“Interim Equity Amount”) shall be calculated and due
                and payable with respect to that Share Reduction Amount pursuant
                to the
                following terms.

            
	 	 	 
	 	
              Determination
                of 

            	 
	 	
              Interim
                Equity Amount:

            	
              For
                each Share Reduction, the Interim Equity Amount shall equal the product
                of
                the Reduction Notional Amount for that Share Reduction and the Rate
                of
                Return for that Share Reduction.

            
	 	 	 
	 	
              Payment
                of Interim

            	 
	 	
              Equity
                Amount:

            	
              If
                the Interim Equity Amount is positive, then Cogent will pay such
                amount to
                Counterparty on the Reduction Payment Date and if the Interim Equity
                Amount is a negative number, then Counterparty will pay (in addition
                to
                any other amounts payable by Counterparty) to Cogent the absolute
                value of
                the Interim Equity Amount on the Reduction Payment
                Date.

            
	 	 	 
	 	
              Type
                of Return:

            	
              Price
                Return, which for each Share Reduction shall be calculated as
                follows:

            
	 	 	 
	 	 	
              Interim
                Final Price-Initial Price

            
	 	 	
              Initial
                Price

            
	 	 	 
	 	
              Reduction
                Notional Amount:

            	
              For
                each Share Reduction Amount, the “Reduction Notional Amount” will equal
                the product of that Share Reduction Amount and the Initial
                Price.

            
	 	 	 
	 	
              Reduction
                Payment Date:

            	
              For
                each Share Reduction, the date on which that Share Reduction
                occurs.

            
	 	 	 
	 	
              Interim
                Final Price:

            	
              For
                any Interim Valuation Date, the average of the Relevant Prices for
                the
                Averaging Dates relating to that Interim Valuation
                Date.

            
	 	 	 

    

     

    
      
        
        

      

      
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              Valuation
                Time:

            	
              The
                closing time on the Exchange

            
	 	 	 
	 	
              Interim
                Valuation Date:

            	
              The
                Share Reduction Date

            
	 	 	 
	 	
              Averaging
                Dates:

            	
              For
                any Interim Valuation Date, the ten trading days up to and including
                that
                Interim Valuation Date

            
	 	 	 
	 	
              Averaging
                Date Disruption:

            	
              Modified
                Postponement

            
	 	 	 
	 	
              Relevant
                Price:

            	
              For
                each Averaging Date, the average of the bid and ask price per Share
                as
                determined by the Calculation Agent at the Valuation Time on that
                Averaging Date.

            
	 	 	 
	 Floating
              Amounts payable by Counterparty:	 
	 	 	 
	 	
              Floating
                Amount Payer:

            	
              Counterparty

            
	 	 	 
	 	
              Notional
                Amount:

            	
              The
                Equity Notional Amount

            
	 	 	 
	 	
              Payment
                Dates:

            	
              1st
                day of each month

            
	 	 	 
	 	
              Floating
                   Rate Option:

            	
              USD-LIBOR-BBA-30
                day 

            
	 	 	 
	 	
              Spread:

            	
              1.45%

            
	 	 	 
	 	
              Floating
                Rate Day Count Fraction:

            	
              Actual/360

            
	 	 	 
	 	
              Reset
                Dates:

            	
              1st
                day of each month

            
	 	 	 
	 Initial
              Exchange Amount payable by Counterparty:	 
	 	 	 
	 	
              Counterparty
                Initial Exchange Amount:

            	
              (1)
                $1,375,000, (2) 5,000,000 shares of INFN common stock, par value
                $0.001
                per share, CUSIP number 45768R305 and (3) a warrant to purchase 5,000,000
                shares of INFN common stock, during a 5-year term, at an initial
                exercise
                price per share of $1.20; provided that (x) on the Counterparty Initial
                Exchange Date Party A and Party B shall have entered into registration
                rights agreement, in form and substance reasonably satisfactory to
                Party
                A, under which Party A is granted piggy-back registration rights
                with
                respect to the shares of common stock referred to in clause (2) and
                demand
                registration rights with respect to (3) above and (y) only $568,750
                of the
                amount referred to in clause (1) above shall be due on such date,
                with the
                balance of $831,250 (plus interest accrued thereon) to be paid by
                Party B
                as provided below under “Deferral of Portion of Initial Exchange
                Amount”.

            
	 	 	 

    

     

    
      
        
        

      

      
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              Counterparty
                Initial 

            	 
	 	
              Exchange
                Date:

            	
              July
                2, 2006 or completion of Knock-In Event whichever is
                earlier.

            
	 	 	 
	 	
              Deferral
                of Portion of

            	 
	 	
              Initial
                Exchange Amount:

            	
              The
                $831,250 portion of the Initial Exchange Amount not required to be
                paid on
                the Initial Exchange Date (the “Deferred Exchange Amount”) shall accrue
                interest at same rate and on the same basis as the computation of
                the
                Floating Amounts referred to above from and including the Initial
                Exchange
                Date to and excluding the date on which such amount and accrued interest
                are paid. If the Deferred Exchange Amount plus any accrued interest
                thereon remains unpaid as of the first date on which the Number of
                Shares
                is reduced as provided below under “Adjustment of Number of Shares”, then
                Party A shall cause such amount plus accrued interest to be paid
                to it out
                of the first three releases of Bonds pursuant to Section 4(b) below
                resulting from the reduction in the Number of Shares, in which case
                the
                Portion of Bonds to be received by Party B shall be reduced by the
                amount
                so paid to Party A. The amounts to be paid to Party A shall be in
                approximately equal installments of the Deferred Exchange Amount,
                plus all
                accrued interest thereon.

            
	 	 	 
	 Other
              Terms:	 
	 	 	 
	 	
              Adjustment
                of 

            	 
	 	
              Number
                of Shares:

            	
              If
                no Knock-out Event has occurred, and this Transaction has not been
                otherwise terminated, then from and after the Trigger Date, the Number
                of
                Shares shall be reduced as follows:

            
	 	 	 
	 	 	
              (i)
                If on the day occurring 1 month after the Trigger Date, the Resale
                Condition (as defined below) is then satisfied with respect to not
                less
                than 18,500,000 of
                the Equity
                Shares (as defined below), the Number of Shares shall be reduced
                to
                36,750,000 shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (ii)
                If on the day occurring 2 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 19,000,000
                of
                the
                Equity
                Shares, the Number of Shares shall be reduced to 36,000,000 shares
                on the
                first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (iii)
                If on the day occurring 3 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 19,750,000
                of
                the Equity Shares, the Number of Shares shall be reduced to 35,250,000
                shares on the first Exchange Business Day thereafter,

            
	 	 	 

    

     

    
      
        
        

      

      
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              (iv)
                If on the day occurring 4 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 20,500,000
                of
                the Equity Shares, the Number of Shares shall be reduced to
                34,500,000
                shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (v)
                If on the day occurring 5 months after the Trigger Date, the Resale
                Condition (as defined below) is then satisfied with respect to not
                less
                than 21,250,000 of
                the Equity
                Shares (as defined below), the Number of Shares shall be reduced
                to
                33,750,000 shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (vi)
                If on the day occurring 6 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 22,000,000
                of
                the
                Equity
                Shares, the Number of Shares shall be reduced to 33,000,000 shares
                on the
                first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (vii)
                If on the day occurring 7 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 23,250,000
                of
                the Equity Shares, the Number of Shares shall be reduced to 31,750,000
                shares on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (viii)
                If on the day occurring 8 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 24,500,000
                of
                the Equity Shares, the Number of Shares shall be reduced to
                30,500,000
                shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (ix)
                If on the day occurring 9 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 25,750,000
                of
                the Equity
                Shares,
                the Number of Shares shall be reduced to 29,250,000 shares on the
                first
                Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (x)
                If on the day occurring 10 months after the Trigger Date, the Resale
                Condition (as defined below) is then satisfied with respect to not
                less
                than 27,250,000 of
                the Equity
                Shares (as defined below), the Number of Shares shall be reduced
                to
                27,750,000 shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xi)
                If on the day occurring 11 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 28,750,000
                of
                the
                Equity
                Shares, the Number of Shares shall be reduced to 26,250,000 shares
                on the
                first Exchange Business Day thereafter,

            
	 	 	 

    

     

    
      
        
        

      

      
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              (xii)
                If on the day occurring 12 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 30,250,000
                of
                the Equity Shares, the Number of Shares shall be reduced to 24,750,000
                shares on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xiii)
                If on the day occurring 13 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 31,750,000
                of
                the Equity Shares, the Number of Shares shall be reduced to
                23,250,000
                shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xiv)
                If on the day occurring 14 month after the Trigger Date, the Resale
                Condition (as defined below) is then satisfied with respect to not
                less
                than 33,250,000 of
                the Equity
                Shares (as defined below), the Number of Shares shall be reduced
                to
                21,750,000 shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xv)
                If on the day occurring 15 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 34,750,000
                of
                the
                Equity
                Shares, the Number of Shares shall be reduced to 20,250,000 shares
                on the
                first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xvi)
                If on the day occurring 16 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 36,500,000
                of
                the Equity Shares, the Number of Shares shall be reduced to 18,500,000
                shares on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xvii)
                If on the day occurring 17 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 38,250,000
                of
                the Equity Shares, the Number of Shares shall be reduced to
                16,750,000
                shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xviii)
                If on the day occurring 18 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 40,000,000
                of
                the Equity
                Shares,
                the Number of Shares shall be reduced to 15,000,000 shares on the
                first
                Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xix)
                If on the day occurring 19 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 41,500,000
                of
                the
                Equity
                Shares, the Number of Shares shall be reduced to 13,500,000 shares
                on the
                first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xx)
                If on the day occurring 20 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 43,000,000
                of
                the Equity Shares, the Number of Shares shall be reduced to 12,000,000
                shares on the first Exchange Business Day thereafter,

            
	 	 	 

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
      	 	 	
              (xxi)
                If on the day occurring 21 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 44,500,000
                of
                the Equity Shares, the Number of Shares shall be reduced to
                10,500,000
                shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xxii)
                If on the day occurring 22 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 45,750,000
                of
                the Equity
                Shares,
                the Number of Shares shall be reduced to 9,250,000 shares on the
                first
                Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xxiii)
                If on the day occurring 23 months after the Trigger Date, the Resale
                Condition (as defined below) is then satisfied with respect to not
                less
                than 47,000,000 of
                the Equity
                Shares (as defined below), the Number of Shares shall be reduced
                to
                8,000,000 shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xxiv)
                If on the day occurring 24 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 48,250,000
                of
                the
                Equity
                Shares, the Number of Shares shall be reduced to 6,750,000 shares
                on the
                first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xxv)
                If on the day occurring 25 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 49,500,000
                of
                the Equity Shares, the Number of Shares shall be reduced to 5,500,000
                shares on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xxvi)
                If on the day occurring 26 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 50,750,000
                of
                the Equity Shares, the Number of Shares shall be reduced to
                4,250,000
                shares
                on the first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xxvii)
                If on the day occurring 27 month after the Trigger Date, the Resale
                Condition (as defined below) is then satisfied with respect to not
                less
                than 52,000,000 of
                the Equity
                Shares (as defined below), the Number of Shares shall be reduced
                to
                3,000,000 shares
                on the first Exchange Business Day
                thereafter,

            

    

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    
      	 	 	 
	 	 	
              (xxviii)
                If on the day occurring 28 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 53,000,000
                of
                the
                Equity
                Shares, the Number of Shares shall be reduced to 2,000,000 shares
                on the
                first Exchange Business Day thereafter,

            
	 	 	 
	 	 	
              (xxix)
                If on the day occurring 29 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 54,000,000
                of
                the Equity Shares, the Number of Shares shall be reduced to 1,000,000
                shares on the first Exchange Business Day thereafter,
                and

            
	 	 	 
	 	 	
              (xxx)
                If on the day occurring 30 months after the Trigger Date, the Resale
                Condition is then satisfied with respect to not less than 55,000,000
                of
                the Equity Shares, the Number of Shares shall be reduced to
                zero
                shares
                on the first Exchange Business Day thereafter.

            
	 	 	 
	 	 	
              The
                “Resale Condition” shall be deemed satisfied as of any day with respect to
                the number of Equity Shares that, as of such day, are then subject
                to an
                effective resale registration statement under the Securities Act
                of 1933,
                as amended, with the holders of such shares being named therein as
                selling
                shareholders or fully eligible for resale under paragraph (k) of
                Rule 144
                adopted under the Securities Act of 1933. 

            
	 	 	 
	 	 	
              “Equity
                Shares” mean 55,000,000 Shares; provided that the number of Equity Shares
                and the corresponding number of shares referred to in clauses (i)
                through
                (xxx) above shall be adjusted from time to time by the Calculation
                Agent
                as provided in Section 11.2 of the Equity Definitions.

            
	 	 	 
	 	 	
              The
                “Trigger Date” shall mean the first date as of which the Resale Condition
                has been satisfied with respect to at least 10,000,000
                Shares.

            
	 	 	 
	 	 	
              Each
                reduction of the Number of Shares pursuant to the foregoing terms
                shall
                result in an Interim Equity Amount becoming due.

            
	 	 	 
	 	 	
              If,
                as of any date referred to in clauses (i) through (xxx) above, the
                Resale
                Condition is not satisfied, then Party B may, at its option, defer
                the
                reduction in the Number of Shares contemplated by that clause until
                such
                later date on or prior to the Termination Date as of which the Resale
                Condition is satisfied.

            
	 	 	 
	 	
              Optional
                Reduction:

            	
              Cogent
                may, from time to time, elect to reduce the Number of Shares as of
                any
                Exchange Business Day by giving Counterparty written notice of such
                reduction as least 10 Exchange Business Day prior to the date on
                which (as
                indicated in such notice) that reduction is to occur. Each such reduction
                shall result in an Interim Equity Amount becoming due.

            
	 	 	 

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    
      	 	
              Knock-out
                Event Reduction:

            	
              If
                a Knock-out Event occurs, then the Number of Shares shall be reduced
                to
                zero and an Interim Equity Amount shall become due on the Termination
                Date
                (which shall be the Redemption Date of the Preferred
                Stock).

            
	 	 	 
	 Settlement
              Terms:	 
	 	 	 
	 	
              Cash
                Settlement:

            	
              Applicable

            
	 	 	 
	 	
              Settlement
                Currency:

            	
              USD

            
	 	 	 
	 	
              Cash
                Settlement Payment Date:

            	
              USD
                Currency Business Days after the relevant Valuation
                Date

            
	 	 	 
	 	
              Settlement
                Method Election:

            	
              Not
                Applicable

            
	 	 	 
	 	
              Default
                Settlement Method:

            	
              Cash
                Settlement

            
	 	 	 
	 	 	 
	 Adjustments:	 
	 	 	 
	 	
              Method
                of Adjustment:

            	
              Calculation
                Agent Adjustment

            
	 	 	 
	 	
              Special
                Adjustment:

            	
              In
                addition to any adjustments made as a result of any Potential Adjustment
                Event, the Initial Price shall be adjusted in accordance with the
                following terms:

            
	 	 	 
	 	 	
              (i)
                An adjustment to the Initial Price shall be made each time that INFN
                (a)
                issues any Shares at per Share price below the Threshold Price, (b)
                issues
                any other securities that are convertible into or exercisable or
                exchangeable for Shares at a per Share price below the Threshold
                Price or
                (c) enters into any transaction that is indexed to or provides a
                return
                based on a price per Share that is below the Threshold Price (provided
                that no adjustment shall be made under this provision with respect
                to (x)
                any shares, options or warrants that are outstanding on the Trade
                Date and
                (y) up to 5,000,000 Shares issued as a result of any shares, options
                or
                warrants that are issued or granted after the Trade Date to any directors
                or employees of INFN under any stock incentive plan duly adopted
                and
                maintained by INFN).

            
	 	 	 

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    
      	 	 	
              (ii)
                Each time the condition in clause (i) above is satisfied, the Initial
                Price then in effect shall be increased by an amount equal to the
                product
                of (a) the excess of the Threshold Price over the relevant issue,
                conversion, exercise, exchange, index or other reference price that
                resulted in such condition being satisfied and (b) 1.2.

            
	 	 	 
	 	 	
              (iii)
                The Threshold Price shall initially be $1.00. The Initial Price and
                the
                Threshold Price shall each from time to time be adjusted by the
                Calculation Agent as provided in Section 11.2 of the Equity
                Definitions.

            
	 	
               

            	 
	 Extraordinary
              Events:	 
	 	 	 
	 Consequences
              of Merger Events:	 
	 	 	 
	 	
              Share-for-Share:

            	
              Calculation
                Agent Adjustment

            
	 	 	 
	 	
              Share-for-Other:

            	
              Calculation
                Agent Adjustment

            
	 	 	 
	 	
              Share-for-Combined:

            	
              Calculation
                Agent Adjustment

            
	 	 	 
	
              Determining
                Party:

            	
               

            
	 	 	 
	 Tender
              Offer:	
              Applicable

            
	 	 	 
	 Consequences
              of Tender Offers: 	 
	 	 	 
	 	
              Share-for-Share:

            	
              Calculation
                Agent Adjustment

            
	 	 	 
	 	
              Share-for-Other:

            	
              Calculation
                Agent Adjustment

            
	 	 	 
	 	
              Share-for-Combined:

            	
              Component
                Adjustment

            
	 	 	 
	
               Determining
                Party:

            	
              Cogent 

            
	 	 	 
	 Composition
              of Combined Consideration:	
              Applicable

            
	 	 	 
	 Nationalization,
              Insolvency or Delisting:	
              Negotiated
                Close-out

            
	 	 	 
	
               Determining
                Party:

            	
              Cogent

            
	 	 	 
	
              Additional
                Disruption Events:

            	 
	 	 	 
	 	
              Change
                in Law:

            	
              Applicable

            
	 	 	 

    

    
      	 	
              Failure
                to Deliver:

            	
              Applicable

            
	 	 	 
	 	
              Insolvency
                Filing:

            	
              Applicable

            
	 	 	 
	 	
              Determining
                Party:

            	
              Cogent

            
	 	 	 
	 Non-Reliance:	
              Applicable

            
	 	 	 
	 Agreements
              and Acknowledgments 	 
	 Regarding
              Hedging Activities:	
              Not
                Applicable

            
	 	 	 
	 Additional
              Acknowledgments:	
              Applicable

            

    

    

    

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    4.
      Credit
      Support Annex:

    

    (a)
      For
      purposes of Paragraph 13 of the Credit Support Annex to the Master Agreement,
      the “Independent Amount” for this Transaction shall equal the Equity Notional
      Amount. 

    

    (b)
      Upon
      a reduction in the Equity Notional Amount pursuant to the terms hereof, and
      provided all amounts then owing to Party A hereunder have been paid and there is
      no Event of Default or Potential Event of Default then outstanding with respect
      to Party B, Party A shall direct the Escrow Agent to distribute to Party B
      from
      the Collateral Account the Applicable Portion of the Bonds with respect to
      that
      reduction in the Equity Notional Amount. If any amounts are owing to Party
      A
      hereunder, it may first apply such amounts in reduction of the amount to be
      distributed to Party B and, in such case, Party A shall direct the Escrow Agent
      to distribute from the Collateral Account, first to Party A, the amounts owing
      to it and then to Party B, the amount equal to the Applicable Portion of the
      Bonds with respect to that reduction in the Equity Notional Amount less the
      amount distributed to Party A. Party A may defer any distributions to Party
      B
      from the Collateral Account for so long as any Event of Default or Potential
      Event of Default is outstanding with respect to Party B. The “Applicable Portion
      of the Bonds” with respect to any reduction in the Equity Notional Amount shall
      mean the portion of the Bonds equal to (i) the amount of Bonds originally
      deposited in the Collateral Account pursuant to Section 2(a) of the Escrow
      Agreement multiplied by (ii) a fraction the number of which is the amount of
      the
      reduction in the Equity Notional Amount and the denominator of which is the
      initial Equity Notional Amount of $50,000,000.

    

    (c)
      Provided the Equity Notional Amount is reduced in accordance with the schedule
      set forth above under “Other Terms: Adjustment of Number of Shares” as if all
      applicable conditions thereunder are satisfied at all times, there is no Event
      of Default or Potential Event of Default with respect to Party B and no other
      amounts become due to Party A that are distributed to it from the Collateral
      Account, then the amount of collateral to be released to Party B each month
      correspond to the percentage as set forth on Schedule A annexed hereto of the
      Bonds originally deposited in the Collateral Account. Party B shall bear the
      full risk with respect to any fluctuations in the value of the
      Bonds.

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    5.
      Additional Termination Events:

    

    The
      parties agree that, for purposes of the Master Agreement, each of the following
      shall constitute an “Additional Termination Event” (for purposes of each of
      these Additional Termination Events, INFN shall be the sole Affected
      Party):

    

    (i)
      the
      Resale Condition shall not been satisfied with respect to all of the Equity
      Shares by no later than December 2, 2010.

    

    (ii)
      failure to make timely monthly cash payments due under the Floating Amounts
      Payable by Counterparty.

     

    6.
      Calculation Agent:      Cogent

    

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    7.
      Account Details:

    

    Account
      for payments to Cogent:   To
      be
      provided.

    

    Account
      for payments to INFN: To
      be
      provided.

    

    8.
      Relationship between the parties:

    

    
      	 	
              (a)

            	
              Except
                as expressly provided herein, each party acknowledges that in connection
                with entering into this Transaction, it has not entered into any
                agreements, arrangements or understandings with the other party or
                any
                related entity of such party in relation to timing or manner of any
                acquisition or disposal of any Shares, the voting rights attaching
                to any
                Shares or the management of the
                Issuer.

            

    

    

    9.
      Governing Law: the laws of the State of New York (without reference to choice
      of
      law doctrine).

    

    Please
      confirm that the foregoing correctly sets forth the terms of our agreement
      by
      executing the copy of this Confirmation enclosed for that purpose and returning
      it to us
      by
      facsimile at (801) 576-0583.

     

     

     

     

     

    
      	 	 	 
	 	Yours sincerely,
	 	 
	 	Cogent
              Capital
              Financial LLC
	 
 	 
 	 
 
	 	By:  	/s/ Gregory
              L. Kofford
	 	
              
Gregory
              L. Kofford
	 	Senior
              Principal 

    

     

    Confirmed
      as of the date first above written:

     

    Innofone.com,
      Incorporated

     

    

     

    By: /s/
      Alex Lightman

    Alex
      Lightman

    Chief
      Executive Officer

    

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    Schedule
      A

    

     

    
      	
               

            	
               

            	
               

            

    

     

    
      	
              Month

            	
              Portion
                of Bonds to

              be
                Released

            	
              Reduction
                in Number of Shares

            
	 	 	
               

            
	
              1

            	
              2%

            	
              750,000

            
	
              2

            	
              2%

            	
              750,000

            
	
              3

            	
              2%

            	
              750,000

            
	
              4

            	
              2%

            	
              750,000

            
	
              5

            	
              2%

            	
              750,000

            
	
              6

            	
              2%

            	
              750,000

            
	
              7

            	
              31⁄3%

            	
              1,250,000

            
	
              8

            	
              31⁄3%

            	
              1,250,000

            
	
              9

            	
              31⁄3%

            	
              1,250,000

            
	
              10

            	
              4%

            	
              1,500,000

            
	
              11

            	
              4%

            	
              1,500,000

            
	
              12

            	
              4%

            	
              1,500,000

            
	
              13

            	
              4%

            	
              1,500,000

            
	
              14

            	
              4%

            	
              1,500,000

            
	
              15

            	
              4%

            	
              1,500,000

            
	
              16

            	
              42⁄3%

            	
              1,750,000

            
	
              17

            	
              42⁄3%

            	
              1,750,000

            
	
              18

            	
              42⁄3%

            	
              1,750,000

            
	
              19

            	
              4%

            	
              1,500,000

            
	
              20

            	
              4%

            	
              1,500,000

            
	
              21

            	
              4%

            	
              1,500,000

            
	
              22

            	
              31⁄3%

            	
              1,250,000

            
	
              23

            	
              31⁄3%

            	
              1,250,000

            
	
              24

            	
              31⁄3%

            	
              1,250,000

            
	
              25

            	
              31⁄3%

            	
              1,250,000

            
	
              26

            	
              31⁄3%

            	
              1,250,000

            
	
              27

            	
              31⁄3%

            	
              1,250,000

            
	
              28

            	
              22⁄3%

            	
              1,000,000

            
	
              29

            	
              22⁄3%

            	
              1,000,000

            
	
              30

            	
              22⁄3%

            	
              1,000,000

            

    

    

    
      
        
        

      

      
        16Unassociated Document

    REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the 2nd
      day of June, 2006, between INNOFONE.COM, INCORPORATED, a Nevada corporation
      (the
      "Company"), and COGENT CAPITAL FINANCIAL LLC, a Delaware limited liability
      company (the "Holder").

     

    WHEREAS,
      the Holder has acquired a warrant, dated this date and issued by the Company
      to
      purchase 5,000,000 shares of the Company’s Common Stock (the “Warrant”) and has
      received 5,000,000 shares of Common Stock, each in connection with its entering
      into an equity swap with the Company as of the date hereof (the “Common Stock”);

     

    WHEREAS,
      it is a condition to the issuance of such Common Stock and Warrant that the
      Company enter into this Agreement to provide the Holder with certain rights
      relating to the registration of such Common Stock and the Common Stock
      underlying such Warrant; 

     

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements set forth
      herein, and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

     

    1. DEFINITIONS.
      The
      following capitalized terms used herein have the following
      meanings:

     

    “Agreement”
means
      this Agreement, as amended, restated, supplemented or otherwise modified from
      time to time.

     

    “Commission”
means
      the Securities and Exchange Commission.

     

    “Common
      Stock”
means
      the common stock, par value $0.001 per share, of the Company.

     

    “Company”
has
      the
      meaning set forth in the preamble to this Agreement.

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended, and the rules and regulations
      of the Commission promulgated thereunder, all as the same shall be in effect
      at
      the time.

     

    “Holder”
has
      the
      meaning set forth in the preamble to this Agreement.

     

    “Holder
      Indemnified Party”
has
      the
      meaning set forth in Section 4.1.

     

    “Indemnified
      Party”
has
      the
      meaning set forth in Section 4.3.

     

    “Indemnifying
      Party”
has
      the
      meaning set forth in Section 4.3.

     

    “Maximum
      Number of Shares”
means,
      with respect to any underwritten offering, the maximum dollar amount or maximum
      number of shares (if any) that the Underwriter or Underwriters advise the
      Company and/or the selling security holders can be sold in such offering without
      adversely affecting the proposed offering price, the timing, the distribution
      method, or the probability of success of such offering.

     

    
      
         

      

      
        1

        
          

        

      

      
         

         

      

    

    

     

    “Notices”
has
      the
      meaning set forth in Section 6.3.

     

    “Piggy-Back
      Registration”
has
      the
      meaning set forth in Section 2.2.1.

     

    “Register,”
      “registered”
and
      “registration”
mean
      a
      registration effected by preparing and filing a registration statement or
      similar document in compliance with the requirements of the Securities Act,
      and
      the applicable rules and regulations promulgated thereunder, and such
      registration statement becoming effective.

     

    “Registrable
      Securities”
mean
      collectively (i) the 5,000,000 shares of Common Stock issued to the Holder
      as
      part of the Initial Exchange Amount under the Equity Swap and (ii) all shares
      of
      Common Stock underlying and issuable pursuant to the Warrant issued to the
      Holder as part of the Initial Exchange Amount under the Equity Swap. Registrable
      Securities include any warrants, shares of capital stock or other securities
      of
      the Company issued as a dividend or other distribution with respect to or in
      exchange for or in replacement of such shares of Common Stock. As to any
      particular Registrable Securities, such securities shall cease to be Registrable
      Securities when: (a) a Registration Statement with respect to the sale of such
      securities shall have become effective under the Securities Act and such
      securities shall have been sold, transferred, disposed of or exchanged in
      accordance with such Registration Statement; (b) such securities shall have
      been
      otherwise transferred; (c) such securities shall have ceased to be outstanding;
      or (d) the Registrable Securities are sellable under Rule 144(k).

     

    “Registration
      Statement”
means
      a
      registration statement filed by the Company with the Commission in compliance
      with the Securities Act and the rules and regulations promulgated thereunder
      for
      a public offering and sale of Common Stock (other than a registration statement
      on Form S-4 or Form S-8, or their successors forms, or any
      registration statement covering only securities proposed to be issued in
      exchange for securities or assets of another entity).

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, and the rules and regulations of the
      Commission promulgated thereunder, all as the same shall be in effect at the
      time.

     

    “Underwriter”
means
      a
      securities dealer who purchases any Registrable Securities as principal in
      an
      underwritten offering and not as part of such dealer’s market-making
      activities.

     

    “Warrant
      Shares”
means
      the 5,000,000 shares of Common Stock issuable under the Warrant.

     

    
      
         

      

      
        2

        
          

        

      

      
         

         

      

    

    

     

    2. REGISTRATION
      RIGHTS.

     

    2.1.1. Request
      for Registration.
      At any
      time and from time to time on or after the date hereof, the holders of a
      majority-in-interest of the Warrant and/or the Warrant Shares may make up to
      three written demands for registration under the Securities Act of at least
      25%
      of the Warrant Shares (each, a “Demand
      Registration”).
      Any
      demand for a Demand Registration shall specify the number of shares of
      Registrable Securities proposed to be sold and the intended method(s) of
      distribution thereof. The Company will notify all holders of Registrable
      Securities of the demand, and each holder of Registrable Securities who wishes
      to include all or a portion of such holder’s Registrable Securities in the
      Demand Registration (each such holder including shares of Registrable Securities
      in such registration, a “Demanding
      Holder”)
      shall
      so notify the Company within fifteen (15) days after the receipt by the holder
      of the notice from the Company. Upon any such request, the Demanding Holders
      shall be entitled to have their Registrable Securities included in the Demand
      Registration, subject to the provisos set forth below in this Section 2.1.
      The
      Company shall not be obligated to effect more than an aggregate of three (3)
      Demand Registrations under this Section 2.1.1 in respect of Registrable
      Securities.

     

    2.1.2. Effective
      Registration.
      A
      registration will not count as a Demand Registration until the Registration
      Statement filed with the Commission with respect to such Demand Registration
      has
      been declared effective and the Company has complied with all of its obligations
      under this Agreement with respect thereto; provided,
      however,
      that
      if, after such Registration Statement has been declared effective, the offering
      of Registrable Securities pursuant to a Demand Registration is interfered with
      by any stop order or injunction of the Commission or any other governmental
      agency or court, the Registration Statement with respect to such Demand
      Registration will be deemed not to have been declared effective, unless and
      until, (i) such stop order or injunction is removed, rescinded or otherwise
      terminated and (ii) a majority-in-interest of the Demanding Holders thereafter
      elect to continue the offering; provided,
      further,
      that
      the Company shall not be obligated to file a second Registration Statement
      until
      a Registration Statement that has been filed is counted as a Demand Registration
      or is terminated.

     

    2.1.3. Underwritten
      Offering.
      If a
      majority-in-interest of the Demanding Holders so elect and such holders so
      advise the Company as part of their written demand for a Demand Registration,
      the offering of such Registrable Securities pursuant to such Demand Registration
      shall be in the form of an underwritten offering. In such event, the right
      of
      any holder to include its Registrable Securities in such registration shall
      be
      conditioned upon such holder’s participation in such underwriting and the
      inclusion of such holder’s Registrable Securities in the underwriting to the
      extent provided herein. All Demanding Holders proposing to distribute their
      Registrable Securities through such underwriting shall enter into an
      underwriting agreement in customary form with the Underwriter or Underwriters
      selected for such underwriting by a majority-in-interest of the holders
      initiating the Demand Registration.

     

    2.1.4. Withdrawal.
      If a
      majority-in-interest of the Demanding Holders disapprove of the terms of any
      underwriting or are not entitled to include all of their Registrable Securities
      in any offering, such majority-in-interest of the Demanding Holders may elect
      to
      withdraw from such offering by giving written notice to the Company and the
      Underwriter or Underwriters of their request to withdraw prior to the
      effectiveness of the Registration Statement filed with the Commission with
      respect to such Demand Registration. If the majority-in-interest of the
      Demanding Holders withdraws from a proposed offering relating to a Demand
      Registration, then such registration shall not count as a Demand Registration
      provided for in Section 2.1.1.

     

    
      
         

      

      
        3

        
          

        

      

      
         

         

      

    

    

     

    2.2 Piggy-Back
      Registration.

     

    2.2.1. Piggy-Back
      Rights.
      If at
      any time on or after the date hereof, the Company proposes to file a
      Registration Statement under the Securities Act with respect to an offering
      of
      equity securities, or securities or other obligations exercisable or
      exchangeable for, or convertible into, equity securities, by the Company for
      its
      own account or for shareholders of the Company for their account (or by the
      Company and by shareholders of the Company), other than a Registration Statement
      (i) filed in connection with any employee stock option or other benefit plan,
      (ii) for an exchange offer or offering of securities solely to the Company’s
      existing shareholders, (iii) for an offering of debt that is convertible into
      equity securities of the Company or (iv) for a dividend reinvestment plan,
      then the Company shall (x) give written notice of such proposed filing to the
      holders of Registrable Securities as soon as practicable but in no event less
      than fifteen (15) days before the anticipated filing date, which notice shall
      describe the amount and type of securities to be included in such offering,
      the
      intended method(s) of distribution, and the name of the proposed managing
      Underwriter or Underwriters, if any, of the offering and (y) offer to the
      holders of Registrable Securities in such notice the opportunity to register
      the
      sale of such number of shares of Registrable Securities as such holders may
      request in writing within five (5) days following receipt of such notice (a
      “Piggy-Back
      Registration”).
      The
      Company shall cause such Registrable Securities to be included in such
      registration and, in the case of an underwritten offering, shall use its
      commercially reasonable efforts to cause the managing Underwriter or
      Underwriters of a proposed underwritten offering to permit the Registrable
      Securities requested to be included in a Piggy-Back Registration to be included
      on the same terms and conditions as any similar securities of the Company and
      to
      permit the sale or other disposition of such Registrable Securities in
      accordance with the intended method(s) of distribution thereof. All holders
      of
      Registrable Securities proposing to distribute their securities through a
      Piggy-Back Registration that involves an Underwriter or Underwriters shall
      enter
      into an underwriting agreement in customary form with the Underwriter or
      Underwriters selected for such Piggy-Back Registration.

     

    2.2.2. Reduction
      of Offering.
      If the
      managing Underwriter or Underwriters for a Piggy-Back Registration that is
      to be
      an underwritten offering advises the Company and the holders of Registrable
      Securities in writing that the dollar amount or number of securities which
      the
      Company desires to sell, taken together with securities, if any, as to which
      registration has been demanded pursuant to written contractual arrangements
      with
      persons other than the holders of Registrable Securities hereunder, the
      Registrable Securities as to which registration has been requested under this
      Section 2.1, and the securities, if any, as to which registration has been
      requested pursuant to the written contractual piggy-back registration rights
      of
      other shareholders of the Company, exceeds the Maximum Number of Shares, then
      the Company shall include in any such registration:

     

    (i) If
      the
      registration is undertaken for the Company’s account: (A) first, the securities
      that the Company desires and the Registrable Securities as to which registration
      has been requested pursuant to this Agreement in an aggregate amount not
      exceeding the Maximum Number of Shares (pro rata in accordance with the number
      of securities which are desired to be registered by the Company and the parties
      requesting such registration under this Agreement, regardless of the number
      of
      shares of securities with respect to which such persons have the right to
      request such inclusion); (B) second, to the extent that the Maximum Number
      of
      Shares has not been reached under the foregoing clause (A), the securities,
      if
      any, other than Registrable Securities hereunder, as to which registration
      has
      been requested pursuant to written contractual piggy-back registration rights
      of
      security holders that can be sold without exceeding the Maximum Number of
      Shares; and

     

    
      
         

      

      
        4

        
          

        

      

      
         

         

      

    

    

     

    (ii) If
      the
      registration is a “demand” registration undertaken at the demand of persons
      other than the holders of Registrable Securities pursuant to written contractual
      arrangements with such persons, (A) first, the securities for the account of
      the
      demanding persons that can be sold without exceeding the Maximum Number of
      Shares; (B) second, to the extent that the Maximum Number of Shares has not
      been
      reached under the foregoing clause (A), the securities that the Company desires
      to sell and the Registrable Securities as to which registration has been
      requested pursuant to this Agreement that can be sold without exceeding the
      Maximum Number of Shares (pro rata in accordance with the number of securities
      which are desired to be registered by the Company and the parties requesting
      such registration under this Agreement, regardless of the number of shares
      of
      securities with respect to which such persons have the right to request such
      inclusion); and (C) third, to the extent that the Maximum Number of Shares
      has
      not been reached under the foregoing clauses (A) and (B), the securities, if
      any, as to which registration has been requested pursuant to written contractual
      piggy-back registration rights which other shareholders desire to sell that
      can
      be sold without exceeding the Maximum Number of Shares.

     

    2.2.3. Withdrawal.
      Any
      holder of Registrable Securities may elect to withdraw such holder’s request for
      inclusion of Registrable Securities in any Piggy-Back Registration by giving
      written notice to the Company of such request to withdraw prior to the
      effectiveness of the Registration Statement. The Company may also elect to
      withdraw a registration statement at any time prior to the effectiveness of
      the
      Registration Statement. Notwithstanding any such withdrawal, the Company shall
      pay all expenses incurred by the holders of Registrable Securities in connection
      with such Piggy-Back Registration as provided in Section 3.3.

     

    3. REGISTRATION
      PROCEDURES.

     

    3.1 Filings;
      Information.
      Whenever the Company is required to effect the registration of any Registrable
      Securities pursuant to Section 2, the Company shall use its best efforts to
      effect the registration and sale of such Registrable Securities in accordance
      with the intended method(s) of distribution thereof as expeditiously as
      practicable, and in connection with any such request:

     

    3.1.1. Notice
      of Filing Registration Statement.
      The
      Company shall provide the Holder with prior notice of the filing of any
      Registration Statement within the time period and with the information required
      under Section 2.1.1 above.

     

    3.1.2. Copies.
      The
      Company shall, prior to filing a Registration Statement or prospectus, or any
      amendment or supplement thereto, furnish without charge to the holders of
      Registrable Securities included in such registration, and such holders’ legal
      counsel, copies of such Registration Statement as proposed to be filed, each
      amendment and supplement to such Registration Statement (in each case including
      all exhibits thereto and documents incorporated by reference therein), the
      prospectus included in such Registration Statement (including each preliminary
      prospectus), and such other documents as the holders of Registrable Securities
      included in such registration or legal counsel for any such holders may request
      in order to facilitate the disposition of the Registrable Securities owned
      by
      such holders.

     

    
      
         

      

      
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    3.1.3. Amendments
      and Supplements.
      The
      Company shall prepare and file with the Commission such amendments, including
      post-effective amendments, and supplements to such Registration Statement and
      the prospectus used in connection therewith as may be necessary to keep such
      Registration Statement effective and in compliance with the provisions of the
      Securities Act until all Registrable Securities and other securities covered
      by
      such Registration Statement have been disposed of in accordance with the
      intended method(s) of distribution set forth in such Registration Statement
      (which period shall not exceed the sum of one hundred eighty (180) days plus
      any
      period during which any such disposition is interfered with by any stop order
      or
      injunction of the Commission or any governmental agency or court) or such
      securities have been withdrawn.

     

    3.1.4. Notification.
      After
      the filing of a Registration Statement, the Company shall promptly, and in
      no
      event more than two (2) business days after such filing, notify the holders
      of
      Registrable Securities included in such Registration Statement of such filing,
      and shall further notify such holders promptly and confirm such advice in
      writing in all events within two (2) business days of the occurrence of any
      of
      the following: (i) when such Registration Statement becomes effective; (ii)
      when
      any post-effective amendment to such Registration Statement becomes effective;
      (iii) the issuance or threatened issuance by the Commission of any stop order
      (and the Company shall take all actions required to prevent the entry of such
      stop order or to remove it if entered); and (iv) when an amendment or supplement
      to such Registration Statement or any prospectus may be necessary so that,
      as
      thereafter delivered to the purchasers of the securities covered by such
      Registration Statement, such prospectus will not contain an untrue statement
      of
      a material fact or omit to state any material fact required to be stated therein
      or necessary to make the statements therein not misleading. Upon the occurrence
      of an event described in clause (iv), the Company shall promptly make available
      to the holders of Registrable Securities included in such Registration Statement
      any such supplement or amendment; except that before filing with the Commission
      a Registration Statement or prospectus or any amendment or supplement thereto,
      the Company shall furnish to the holders of Registrable Securities included
      in
      such Registration Statement and to the legal counsel for any such holders,
      copies of all such documents proposed to be filed sufficiently in advance of
      filing to provide such holders and legal counsel with a reasonable opportunity
      to review such documents and comment thereon, and the Company shall not file
      any
      Registration Statement or prospectus or amendment or supplement thereto,
      including documents incorporated by reference, to which such holders or their
      legal counsel shall object.

     

    3.1.5. State
      Securities Laws Compliance.
      The
      Company shall use its best efforts to (i) register or qualify the Registrable
      Securities covered by the Registration Statement under such securities or “blue
      sky” laws of such jurisdictions in the United States as the holders of
      Registrable Securities included in such Registration Statement (in light of
      their intended plan of distribution) may request and (ii) take such action
      necessary to cause such Registrable Securities covered by the Registration
      Statement to be registered with or approved by such other Governmental
      Authorities as may be necessary by virtue of the business and operations of
      the
      Company and do any and all other acts and things that may be necessary or
      advisable to enable the holders of Registrable Securities included in such
      Registration Statement to consummate the disposition of such Registrable
      Securities in such jurisdictions; provided,
      however,
      that
      the Company shall not be required to qualify generally to do business in any
      jurisdiction where it would not otherwise be required to qualify but for this
      Section 3.1.5 or subject itself to taxation in any such
      jurisdiction.

     

    
      
         

      

      
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    3.1.6. Agreements
      for Disposition.
      The
      Company shall enter into customary agreements (including, if applicable, an
      underwriting agreement in customary form) and take such other actions as are
      reasonably required in order to expedite or facilitate the disposition of such
      Registrable Securities. The representations, warranties and covenants of the
      Company in any underwriting agreement which are made to or for the benefit
      of
      any Underwriters, to the extent applicable, shall also be made to and for the
      benefit of the holders of Registrable Securities included in such registration
      statement. No holder of Registrable Securities included in such registration
      statement shall be required to make any representations or warranties in the
      underwriting agreement except, if applicable, with respect to such holder’s
      organization, good standing, authority, title to Registrable Securities, lack
      of
      conflict of such sale with such holder’s material agreements and organizational
      documents, and with respect to written information relating to such holder
      that
      such holder has furnished in writing expressly for inclusion in such
      Registration Statement.

     

    3.1.7. Cooperation.
      The
      principal executive officer of the Company, the principal financial officer
      of
      the Company, the principal accounting officer of the Company and all other
      officers and members of the management of the Company shall cooperate fully
      in
      any offering of Registrable Securities hereunder, which cooperation shall
      include, without limitation, the preparation of the Registration Statement
      with
      respect to such offering and all other offering materials and related documents,
      and participation in meetings with Underwriters, attorneys, accountants and
      potential investors.

     

    3.1.8. Records.
      The
      Company shall make available for inspection by the holders of Registrable
      Securities included in such Registration Statement, any Underwriter
      participating in any disposition pursuant to such registration statement and
      any
      attorney, accountant or other professional retained by any holder of Registrable
      Securities included in such Registration Statement or any Underwriter, all
      financial and other records, pertinent corporate documents and properties of
      the
      Company, as shall be necessary to enable them to exercise their due diligence
      responsibility, and cause the Company’s officers, directors and employees to
      supply all information requested by any of them in connection with such
      Registration Statement.

     

    3.1.9. Opinions
      and Comfort Letters.
      The
      Company shall furnish to each holder of Registrable Securities included in
      any
      Registration Statement a signed counterpart, addressed to such holder, of (i)
      any opinion of counsel to the Company delivered to any Underwriter and (ii)
      any
      comfort letter from the Company’s independent public accountants delivered to
      any Underwriter. In the event no legal opinion is delivered to any Underwriter,
      the Company shall furnish to each holder of Registrable Securities included
      in
      such Registration Statement, at any time that such holder elects to use a
      prospectus, an opinion of counsel to the Company to the effect that the
      Registration Statement containing such prospectus has been declared effective
      and that no stop order is in effect.

     

    
      
         

      

      
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    3.1.10. Earnings
      Statement.
      The
      Company shall comply with all applicable rules and regulations of the Commission
      and the Securities Act, and make available to its shareholders, as soon as
      practicable, an earnings statement covering a period of twelve (12) months,
      beginning within three (3) months after the effective date of the registration
      statement, which earnings statement shall satisfy the provisions of Section
      11(a) of the Securities Act and Rule 158 thereunder.

     

    3.1.11. Listing.
      The
      Company shall use its best efforts to cause all Registrable Securities included
      in any registration to be listed on such exchanges or otherwise designated
      for
      trading in the same manner as similar securities issued by the Company are
      then
      listed or designated or, if no such similar securities are then listed or
      designated, in a manner satisfactory to the holders of a majority of the
      Registrable Securities included in such registration.

     

    3.2 Obligation
      to Suspend Distribution.
      Upon
      receipt of any notice from the Company of the happening of any event of the
      kind
      described in Section 3.1.4(iv), each holder of Registrable Securities
      included in any registration shall immediately discontinue disposition of such
      Registrable Securities pursuant to the Registration Statement covering such
      Registrable Securities until such holder receives the supplemented or amended
      prospectus contemplated by Section 3.1.4(iv) and, if so directed by the
      Company, each such holder will deliver to the Company all copies, other than
      permanent file copies then in such holder’s possession, of the most recent
      prospectus covering such Registrable Securities at the time of receipt of such
      notice.

     

    3.3 Registration
      Expenses.
      The
      Company shall bear all costs and expenses incurred in connection with any
      Piggy-Back Registration pursuant to Section 2.2, and all expenses incurred
      in performing or complying with its other obligations under this Agreement,
      whether or not the Registration Statement becomes effective, including, without
      limitation: (i) all registration and filing fees; (ii) fees and
      expenses of compliance with securities or “blue sky” laws (including fees and
      disbursements of counsel in connection with blue sky qualifications of the
      Registrable Securities); (iii) printing expenses; (iv) the Company’s
      internal expenses (including, without limitation, all salaries and expenses
      of
      its officers and employees); (v) the fees and expenses incurred in
      connection with the listing of the Registrable Securities as required by
      Section 3.1.11; (vi) National Association of Securities Dealers, Inc.
      fees; (vii) fees and disbursements of counsel for the Company and fees and
      expenses for independent certified public accountants retained by the Company
      (including the expenses or costs associated with the delivery of any opinions
      or
      comfort letters requested pursuant to Section 3.1.9); (viii) the fees
      and expenses of any special experts retained by the Company in connection with
      such registration; and (ix) the reasonable fees and expenses of one legal
      counsel selected by the holders of a majority-in-interest of the Registrable
      Securities included in such registration (which such fees and expenses shall
      not
      exceed $15,000). The Company shall have no obligation to pay any underwriting
      discounts or selling commissions attributable to the Registrable Securities
      being sold by the holders thereof, which underwriting discounts or selling
      commissions shall be borne by such holders. Additionally, in an underwritten
      offering, all selling shareholders and the Company shall bear the expenses
      of
      the underwriter pro rata in proportion to the respective amount of shares each
      is selling in such offering.

     

    
      
         

      

      
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    3.4 Information.
      The
      holders of Registrable Securities shall provide such information as may
      reasonably be requested by the Company, or the managing Underwriter, if any,
      in
      connection with the preparation of any Registration Statement, including
      amendments and supplements thereto, in order to effect the registration of
      any
      Registrable Securities under the Securities Act pursuant to Section 2 and
      in connection with the Company’s obligation to comply with federal and
      applicable state securities laws.

     

    4. INDEMNIFICATION
      AND CONTRIBUTION.

     

    4.1 Indemnification
      by the Company.
      The
      Company agrees to indemnify and hold harmless the Holder and its officers,
      employees, affiliates, directors, partners, members, attorneys and agents,
      and
      each person, if any, who controls the Holder and each other holder of
      Registrable Securities (within the meaning of Section 15 of the Securities
      Act or Section 20 of the Exchange Act) (each, an “Holder
      Indemnified Party”),
      from
      and against any expenses, losses, judgments, claims, damages or liabilities,
      whether joint or several, arising out of or based upon (i) any untrue statement
      (or allegedly untrue statement) of a material fact contained in any Registration
      Statement under which the sale of such Registrable Securities was registered
      under the Securities Act, any preliminary prospectus, final prospectus or
      summary prospectus contained in the Registration Statement, or any amendment
      or
      supplement to such Registration Statement or (ii) any omission (or alleged
      omission) to state a material fact required to be stated therein or necessary
      to
      make the statements therein not misleading, or any violation by the Company
      of
      the Securities Act or any rule or regulation promulgated thereunder applicable
      to the Company and relating to action or inaction required of the Company in
      connection with any such registration; and the Company shall promptly reimburse
      the Holder Indemnified Party for any legal and any other expenses reasonably
      incurred by such Holder Indemnified Party in connection with investigating
      and
      defending any such expense, loss, judgment, claim, damage, liability or action;
      provided,
      however,
      that
      the Company will not be liable in any such case to the extent that any such
      expense, loss, claim, damage or liability arises out of or is based upon any
      (i)
      the failure of the Holder to comply with the covenants and agreements contained
      in this Agreement with respect to the sale of the Registrable Securities, (ii)
      untrue statement or allegedly untrue statement or omission or alleged omission
      made in such Registration Statement, preliminary prospectus, final prospectus
      or
      summary prospectus, or any such amendment or supplement, in reliance upon and
      in
      conformity with information furnished to the Company, in writing, by such
      selling holder expressly for use therein or (iii) an untrue statement or
      omission in any Registration Statement or prospectus that is corrected in any
      subsequent prospectus, or amendment or supplement thereto, that was delivered
      to
      the Holder prior to the pertinent sale or sales by the Holder and not delivered
      by the Holder to the individual or entity to which it or they made such sale(s)
      prior to such sale(s).

     

    
      
         

      

      
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    4.2 Indemnification
      by Holders of Registrable Securities.
      The
      Holder will, in the event that any registration is being effected under the
      Securities Act pursuant to this Agreement of any Registrable Securities held
      by
      such selling holder, indemnify and hold harmless the Company, each of its
      directors and officers and each underwriter (if any), and each other person,
      if
      any, who controls such selling holder or such underwriter within the meaning
      of
      the Securities Act, against any losses, claims, judgments, damages or
      liabilities, whether joint or several, insofar as such losses, claims,
      judgments, damages or liabilities (or actions in respect thereof) arise out
      of
      or are based upon any untrue statement or allegedly untrue statement of a
      material fact contained in any Registration Statement under which the sale
      of
      such Registrable Securities was registered under the Securities Act, any
      preliminary prospectus, final prospectus or summary prospectus contained in
      the
      Registration Statement, or any amendment or supplement to the Registration
      Statement, or arise out of or are based upon any omission or the alleged
      omission to state a material fact required to be stated therein or necessary
      to
      make the statement therein not misleading, if the statement or omission was
      made
      in reliance upon and in conformity with information furnished in writing to
      the
      Company by the Holder expressly for use therein, and shall reimburse the
      Company, its directors and officers, and each such controlling person for any
      legal or other expenses reasonably incurred by any of them in connection with
      investigation or defending any such loss, claim, damage, liability or action.
      Each selling holder’s indemnification obligations hereunder shall be several and
      not joint and shall be limited to the amount of any net proceeds actually
      received by such selling holder.

     

    4.3 Conduct
      of Indemnification Proceedings.
      Promptly after receipt by any person of any notice of any loss, claim, damage
      or
      liability or any action in respect of which indemnity may be sought pursuant
      to
      Section 4.1 or 4.2, such person (the “Indemnified
      Party”)
      shall,
      if a claim in respect thereof is to be made against any other person for
      indemnification hereunder, notify such other person (the “Indemnifying
      Party”)
      in
      writing of the loss, claim, judgment, damage, liability or action; provided,
      however,
      that
      the failure by the Indemnified Party to notify the Indemnifying Party shall
      not
      relieve the Indemnifying Party from any liability which the Indemnifying Party
      may have to such Indemnified Party hereunder, except and solely to the extent
      the Indemnifying Party is actually prejudiced by such failure. If the
      Indemnified Party is seeking indemnification with respect to any claim or action
      brought against the Indemnified Party, then the Indemnifying Party shall be
      entitled to participate in such claim or action, and, to the extent that it
      wishes, jointly with all other Indemnifying Parties, to assume control of the
      defense thereof with counsel satisfactory to the Indemnified Party. After notice
      from the Indemnifying Party to the Indemnified Party of its election to assume
      control of the defense of such claim or action, the Indemnifying Party shall
      not
      be liable to the Indemnified Party for any legal or other expenses subsequently
      incurred by the Indemnified Party in connection with the defense thereof other
      than reasonable costs of investigation; provided,
      however,
      that in
      any action in which both the Indemnified Party and the Indemnifying Party are
      named as defendants, the Indemnified Party shall have the right to employ
      separate counsel (but no more than one such separate counsel) to represent
      the
      Indemnified Party and its controlling persons who may be subject to liability
      arising out of any claim in respect of which indemnity may be sought by the
      Indemnified Party against the Indemnifying Party, with the fees and expenses
      of
      such counsel to be paid by such Indemnifying Party if, based upon the written
      opinion of counsel of such Indemnified Party, representation of both parties
      by
      the same counsel would be inappropriate due to actual or potential differing
      interests between them. No Indemnifying Party shall, without the prior written
      consent of the Indemnified Party, consent to entry of judgment or effect any
      settlement of any claim or pending or threatened proceeding in respect of which
      the Indemnified Party is or could have been a party and indemnity could have
      been sought hereunder by such Indemnified Party, unless such judgment or
      settlement includes an unconditional release of such Indemnified Party from
      all
      liability arising out of such claim or proceeding.

     

    
      
         

      

      
        10

        
          

        

      

      
         

         

      

    

    

     

    4.4 Contribution.
      

     

    4.4.1. If
      the
      indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is
      unavailable to any Indemnified Party in respect of any loss, claim, damage,
      liability or action referred to herein, then each such Indemnifying Party,
      in
      lieu of indemnifying such Indemnified Party, shall contribute to the amount
      paid
      or payable by such Indemnified Party as a result of such loss, claim, damage,
      liability or action in such proportion as is appropriate to reflect the relative
      fault of the Indemnified Parties and the Indemnifying Parties in connection
      with
      the actions or omissions which resulted in such loss, claim, damage, liability
      or action, as well as any other relevant equitable considerations. The relative
      fault of any Indemnified Party and any Indemnifying Party shall be determined
      by
      reference to, among other things, whether the untrue or alleged untrue statement
      of a material fact or the omission or alleged omission to state a material
      fact
      relates to information supplied by such Indemnified Party or such Indemnifying
      Party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such statement or omission.

     

    4.4.2. The
      parties hereto agree that it would not be just and equitable if contribution
      pursuant to this Section 4.4 were determined by pro rata
      allocation or by any other method of allocation which does not take account
      of
      the equitable considerations referred to in the immediately preceding Section
      4.4.1. The amount paid or payable by an Indemnified Party as a result of any
      loss, claim, damage, liability or action referred to in the immediately
      preceding paragraph shall be deemed to include, subject to the limitations
      set
      forth above, any legal or other expenses incurred by such Indemnified Party
      in
      connection with investigating or defending any such action or claim.
      Notwithstanding the provisions of this Section 4.4, no holder of
      Registrable Securities shall be required to contribute any amount in excess
      of
      the dollar amount of the net proceeds (after payment of any underwriting fees,
      discounts, commissions or taxes) actually received by such holder from the
      sale
      of Registrable Securities which gave rise to such contribution obligation.
      No
      person guilty of fraudulent misrepresentation (within the meaning of
      Section 11(f) of the Securities Act) shall be entitled to contribution
      from any person who was not guilty of such fraudulent
      misrepresentation.

     

    5. UNDERWRITING
      AND DISTRIBUTION.

     

    5.1 Rule
      144.
      The
      Company covenants that it shall file any reports required to be filed by it
      under the Securities Act and the Exchange Act and shall take such further action
      as the holders of Registrable Securities may reasonably request, all to the
      extent required from time to time to enable such holders to sell Registrable
      Securities without registration under the Securities Act within the limitation
      of the exemptions provided by Rule 144 under the Securities Act, as such
      Rules may be amended from time to time, or any similar Rule or regulation
      hereafter adopted by the Commission. 

     

    6. MISCELLANEOUS.

     

    6.1 Other
      Registration Rights.
      The
      Company represents and warrants that no person, other than a holder of the
      Registrable Securities, has any right to require the Company to register any
      shares of the Company’s capital stock for sale or to include shares of the
      Company’s capital stock in any registration filed by the Company for the sale of
      shares of capital stock for its own account or for the account of any other
      person. 

     

    
      
         

      

      
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    6.2 Assignment;
      No Third Party Beneficiaries.
      This
      Agreement and the rights, duties and obligations of the Company hereunder may
      not be assigned or delegated by the Company in whole or in part. This Agreement
      and the rights, duties and obligations of the holders of Registrable Securities
      hereunder may be freely assigned or delegated by the holders of Registrable
      Securities in conjunction with and to the extent of any transfer of Registrable
      Securities by such holders. This Agreement and the provisions hereof shall
      be
      binding upon and shall inure to the benefit of each of the parties and their
      respective successors and the permitted assigns of the Holder or holder of
      Registrable Securities or of any assignee of the Holder or holder of Registrable
      Securities. This Agreement is not intended to confer any rights or benefits
      on
      any persons that are not party hereto other than as expressly set forth in
      Article 4 and this Section 6.2.

     

    6.3 Notices.
      All
      notices, demands, requests, consents, approvals or other communications
      (collectively, “Notices”)
      required or permitted to be given hereunder or which are given with respect
      to
      this Agreement shall be in writing and shall be personally served, delivered
      by
      reputable air courier service with charges prepaid, or transmitted by hand
      delivery, telegram, telex or facsimile, addressed as set forth below, or to
      such
      other address as such party shall have specified most recently by written
      notice. Notice shall be deemed given on the date of service or transmission
      if
      personally served or transmitted by telegram, telex or facsimile; provided,
      that if
      such service or transmission is not on a business day or is after normal
      business hours, then such notice shall be deemed given on the next business
      day.
      Notice otherwise sent as provided herein shall be deemed given on the next
      business day following timely delivery of such notice to a reputable air courier
      service with an order for next-day delivery.

     

    
      	 	
              To
                the Company:

            
	 	 
	 	
              Innofone.com,
                Incorporated

            
	 	
              1431
                Ocean Avenue, Suite 1500

            
	 	
              Santa
                Monica, CA 90401

            
	 	
              Attention:
                Alex Lightman

            
	 	
              Facsimile:

            
	 	 
	 	 
	 	
              To
                the Holder, to:

            
	 	 
	 	
              Cogent
                Capital Financial LLC

            
	 	
              11444
                South 1780 East

            
	 	
              Sandy,
                Utah 84092

            
	 	
              Attention: Gregory
                L. Kofford

            
	 	
              Facsimile: 801-576-0583

            
	 	 

    

    

    6.4 Severability.
      This
      Agreement shall be deemed severable, and the invalidity or unenforceability
      of
      any term or provision hereof shall not affect the validity or enforceability
      of
      this Agreement or of any other term or provision hereof. Furthermore, in lieu
      of
      any such invalid or unenforceable term or provision, the parties hereto intend
      that there shall be added as a part of this Agreement a provision as similar
      in
      terms to such invalid or unenforceable provision as may be possible and be
      valid
      and enforceable.

     

    
      
         

      

      
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    6.5 Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, and all of which taken together shall constitute one and
      the
      same instrument.

     

    6.6 Entire
      Agreement.
      This
      Agreement (including all agreements entered into pursuant hereto and all
      certificates and instruments delivered pursuant hereto and thereto) constitute
      the entire agreement of the parties with respect to the subject matter hereof
      and supersede all prior and contemporaneous agreements, representations,
      understandings, negotiations and discussions between the parties, whether oral
      or written.

     

    6.7 Modifications
      and Amendments.
      No
      amendment, modification or termination of this Agreement shall be binding upon
      any party unless executed in writing by such party.

     

    6.8 Titles
      and Headings.
      Titles
      and headings of sections of this Agreement are for convenience only and shall
      not affect the construction of any provision of this Agreement.

     

    6.9 Waivers
      and Extensions.
      Any
      party to this Agreement may waive any right, breach or default which such party
      has the right to waive; provided,
      that
      such waiver will not be effective against the waiving party unless it is in
      writing, is signed by such party and specifically refers to this Agreement.
      Waivers may be made in advance or after the right waived has arisen or the
      breach or default waived has occurred. Any waiver may be conditional. No waiver
      of any breach of any agreement or provision herein contained shall be deemed
      a
      waiver of any preceding or succeeding breach thereof nor of any other agreement
      or provision herein contained. No waiver or extension of time for performance
      of
      any obligations or acts shall be deemed a waiver or extension of the time for
      performance of any other obligations or acts.

     

    6.10 Remedies
      Cumulative.
      In the
      event that the Company fails to observe or perform any covenant or agreement
      to
      be observed or performed under this Agreement, the Holder or any other holder
      of
      Registrable Securities may proceed to protect and enforce its rights by suit
      in
      equity or action at law, whether for specific performance of any term contained
      in this Agreement or for an injunction against the breach of any such term
      or in
      aid of the exercise of any power granted in this Agreement or to enforce any
      other legal or equitable right, or to take any one or more of such actions,
      without being required to post a bond. None of the rights, powers or remedies
      conferred under this Agreement shall be mutually exclusive, and each such right,
      power or remedy shall be cumulative and in addition to any other right, power
      or
      remedy, whether conferred by this Agreement or now or hereafter available at
      law, in equity, by statute or otherwise.

     

    6.11 Governing
      Law.
      This
      Agreement shall be governed by, interpreted under, and construed in accordance
      with the internal laws of the State of New York applicable to agreements made
      and to be performed within the State of New York, without giving effect to
      any
      choice-of-law provisions thereof that would compel the application of the
      substantive laws of any other jurisdiction. 

     

    
      
         

      

      
        13

        
          

        

      

      
         

         

      

    

    

     

    6.12 Waiver
      of Trial by Jury.
      Each
      party hereby irrevocably and unconditionally waives the right to a trial by
      jury
      in any action, suit, counterclaim or other proceeding (whether based on
      contract, tort or otherwise) arising out of, connected with or relating to
      this
      Agreement, the transactions contemplated hereby, or the actions of the Holder
      in
      the negotiation, administration, performance or enforcement hereof.

     

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

    
      
         

      

      
        14

        
          

        

      

      
         

         

      

    

    IN
      WITNESS WHEREOF, the parties have caused this Registration Rights Agreement
      to
      be executed and delivered by their duly authorized representatives as of the
      date first written above.

     

    
      	 	
              INNOFONE.COM,
                INCORPORATED

            
	 	 
	 	 
	 	 
	 	
              By:
                /s/
                Alex Lightman

            
	 	
              Name:
                Alex Lightman

            
	 	
              Title:
                Chief Executive Officer

            
	 	 
	 	 
	 	
               COGENT
                CAPITAL FINANCIAL LLC

            
	 	 
	 	 
	 	
              By:
                /s/
                Gregory L. Kofford

            
	 	
              Name:
                Gregory L. Kofford

            
	 	
              Title:
                Senior Principal

            

    

    

    
      
         

      

      
        15

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