Document:

Unassociated Document

     

     

    PREFERRED
      STOCK PURCHASE AGREEMENT

    

    BETWEEN

    

    WIRELESS
      AGE COMMUINICATIONS, INC.

    

    AND

    

    BARRON
      PARTNERS LP

    

    DATED

    

    AUGUST
      3, 2006

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    PREFERRED
      STOCK PURCHASE AGREEMENT

    

    

    This
      PREFERRED STOCK PURCHASE AGREEMENT (the "Agreement")
      is
      made and entered into as of the 3rd
      day of
      August, 2006 between Wireless Age Communications, Inc.,
      a
      corporation organized and existing under the laws of the State of Nevada
      (“Wireless Age” or the “Company”) and BARRON
      PARTNERS LP, a
      Delaware limited partnership (“Investor”).

     

    PRELIMINARY
      STATEMENT:

    

     

    WHEREAS,
      the
      Investor wishes to purchase from the Company, upon the terms and subject to
      the
      conditions of this Agreement, Seven Million One Hundred Forty Two Thousand
      and
      Nine Hundred (7,142,900) shares of preferred stock of the Company, with such
      preferred stock being as described in the Certificate of Designations, Rights
      and Preferences (the “Certificate
      of Designations”)
      in
      substantially the form attached hereto as Exhibit
      A
      (the
“Preferred
      Stock”)
      for the
      Purchase Price set forth in Section 1.3.23 hereof. Subject to the limitations
      set forth herein and in the Certificate of Designation, the Preferred Stock
      shall be initially convertible into shares of common stock of the Company at
      any
      time at a conversion price of Fourteen Cents ($0.14) per share (the “Conversion
      Value”).
      In
      addition, the Company will issue to the Investor Common Stock Purchase Warrants
      (the “Warrants”)
      to
      purchase up to an additional Fifteen Million (15,000,000) shares of common
      stock
      of the Company at exercise prices as stated in the Warrants; and 

     

    WHEREAS,
      the
      parties intend to memorialize the purchase and sale of such Preferred Stock
      and
      the Warrants.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants and premises contained herein, and for
      other good and valuable consideration, the receipt and adequacy of which are
      hereby conclusively acknowledged, the parties hereto, intending to be legally
      bound, agree as follows:

    

    

     

    ARTICLE
      I

    

     

    INCORPORATION
      BY REFERENCE, SUPERSEDE AND DEFINITIONS

     

    1.1 Incorporation
      by Reference.
      The
      foregoing recitals and the Exhibits and Schedules attached hereto and referred
      to herein, are hereby acknowledged to be true and accurate, and are incorporated
      herein by this reference.

     

    
      
        
        

      

      
        
          
            PREFERRED
              STOCK
              PURCHASE
              AGREEMENT BETWEEN 

            WIRELESS
              AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

            PAGE 1
              OF
              29

          

        

        
          

        

      

      
        
        

      

    

    1.2 Supersede.
      This
      Agreement, to the extent that it is inconsistent with any other instrument
      or
      understanding among the parties governing the affairs of the Company, shall
      supersede such instrument or understanding to the fullest extent permitted
      by
      law. A copy of this Agreement shall be filed at the Company’s principal
      office.

     

    1.3 Certain
      Definitions.
      For
      purposes of this Agreement, the following capitalized terms shall have the
      following meanings (all capitalized terms used in this Agreement that are not
      defined in this Article 1 shall have the meanings set forth elsewhere in this
      Agreement):

     

    1.3.1 “1933
      Act”
means
      the Securities Act of 1933, as amended.

     

    1.3.2 “1934
      Act”
means
      the Securities Exchange Act of 1934, as amended.

     

    1.3.3 “Affiliate”
means
      a
      Person or Persons directly or indirectly, through one or more intermediaries,
      controlling, controlled by or under common control with the Person(s) in
      question. The term “control,” as used in the immediately preceding sentence,
      means, with respect to a Person that is a corporation, the right to the
      exercise, directly or indirectly, of more than 50 percent of the voting rights
      attributable to the shares of such controlled corporation and, with respect
      to a
      Person that is not a corporation, the possession, directly or indirectly, of
      the
      power to direct or cause the direction of the management or policies of such
      controlled Person.

     

    1.3.4 “Articles”
means
      the Certificate of Incorporation of the Company, as the same may be amended
      from
      time to time. 

     

    1.3.5 “Closing”
      shall
      mean the Closing of the transactions contemplated by this Agreement on the
      Closing Date.

     

    1.3.6 “Closing
      Date”
means
      the date on which the payment of the Purchase Price (as defined herein) by
      the
      Investor to the company is completed pursuant to this Agreement to purchase
      the
      Preferred Stock and Warrants, which shall occur on or before August 3,
      2006.

     

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

     

    1.3.8 "Escrow
      Agreement"
      shall
      mean the Escrow Agreement among the Company, the Investor and LawFirm LLP,
      as
      Escrow Agent, attached hereto as Exhibit
      E.

     

    1.3.9 "Exempt
      Issuance"
      means
      the issuance of (a) shares of Common Stock or options to employees, officers,
      or
      directors of the Company pursuant to any stock or option plan duly adopted
      by a
      majority of the non-employee members of the Board of Directors of the Company
      or
      a majority of the members of a committee of non-employee directors established
      for such purpose, (b) securities upon the exercise of or conversion of any
      securities issued hereunder, and (c) securities issued pursuant to acquisitions
      or strategic transactions, provided any such issuance shall only be to a Person
      which is, itself or through its subsidiaries, an operating company in a business
      synergistic with the business of the Company and in which the Company receives
      benefits in addition to the investment of funds, but shall not include a
      transaction in which the Company is issuing securities primarily for the purpose
      of raising capital or to an entity whose primary business is investing in
      securities.

     

    
      
        
        

      

      
        
          PREFERRED
            STOCK
            PURCHASE
            AGREEMENT BETWEEN 

          WIRELESS
            AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

          PAGE 2
            OF
            29

        

        
          

        

      

      
        
        

      

    

    1.3.10
      “Fully
      Diluted”
      shall
      mean the total of all securities and derivative securities as if there are
      no
      limitations on conversion , in or out of the money, at year end.

     

    1.3.11 "Material
      Adverse Effect"
      shall
      mean any adverse effect on the business, operations, properties or financial
      condition of the Company that is material and adverse to the Company and its
      subsidiaries and affiliates, taken as a whole and/or any condition,
      circumstance, or situation that would prohibit or otherwise materially interfere
      with the ability of the Company to perform any of its material obligations
      under
      this Agreement or the Registration Rights Agreement or to perform its
      obligations under any other material agreement.

     

    1.3.12 “Delaware
      Act”
means
      the Delaware General Corporation Law, as amended.

     

    1.3.13
      “
      Nevada Act”
means
      the Nevada Revised Statutes, as amended.

     

    1.3.14 “Person”
means
      an individual, partnership, firm, limited liability company, trust, joint
      venture, association, corporation, or any other legal entity.

     

    1.3.15 “Purchase
      Price”
means
      the One Million Dollars ($1,000,000.00) paid by the Investor to the Company
      for
      the Preferred Stock and the Warrants.

     

    1.3.16 “Registration
      Rights Agreement"
      shall
      mean the registration rights agreement between the Investor and the Company
      attached hereto as Exhibit
      B.

     

    1.3.17 "Registration
      Statement"
      shall
      mean the registration statement under the 1933 Act to be filed with the
      Securities and Exchange Commission for the registration of the Shares pursuant
      to the Registration Rights Agreement attached hereto as Exhibit
      B.

     

    1.3.18 “SEC”
means
      the Securities and Exchange Commission.

     

    1.3.19 "SEC
      Documents"
      shall
      mean the Company's latest Form 10-K or 10-KSB as of the time in question, all
      Forms 10-Q or 10-QSB and 8-K filed thereafter, and the Proxy Statement for
      its
      latest fiscal year as of the time in question until such time as the Company
      no
      longer has an obligation to maintain the effectiveness of a Registration
      Statement as set forth in the Registration Rights Agreement.

     

    1.3.20
      "Shares"
      shall
      mean, collectively, the shares of Common Stock of the Company issued upon
      conversion of the Preferred Stock subscribed for hereunder and those shares
      of
      Common Stock issuable to the Investor upon exercise of the
      Warrants.

     

    
      
        
        

      

      
        
          PREFERRED
            STOCK PURCHASE AGREEMENT BETWEEN

          WIRELESS
            AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

          PAGE 3
            OF 29

        

        
          

        

      

      
        
        

      

    

    1.3.21
      “Subsequent
      Financing”
shall
      mean any offer and sale of shares of Preferred Stock or debt that is initially
      convertible into shares of Common Stock or otherwise senior or superior to
      the
      Preferred Stock.

     

    1.3.22
      “Transaction
      Documents”
shall
      mean this Agreement, all Schedules and Exhibits attached hereto and all other
      documents and instruments to be executed and delivered by the parties in order
      to consummate the transactions contemplated hereby, including, but not limited
      to the documents listed in Sections 3.2 and 3.3 hereof.

     

    1.3.23 “Warrants”
shall
      mean the Common Stock Purchase Warrants in the form attached hereto Exhibit
      D.

     

    

    

    ARTICLE
      II

    

    SALE
      AND PURCHASE OF WIRELESS AGE COMMUNICATIONS, INC. PREFERRED STOCK AND WARRANTS
      PURCHASE PRICE

     

    2.1  Sale
      of Preferred Stock and Issuance of Warrants. 

    

    (a) Upon
      the
      terms and subject to the conditions set forth herein, and in accordance with
      applicable law, the Company agrees to sell to the Investor, and the Investor
      agrees to purchase from the Company, on the Closing Date Seven Million One
      Hundred Forty Two Thousand and Nine Hundred (7,142,900) shares
      of
      Preferred Stock and the Warrants for the (the “Purchase
      Price”)
      of One
      Million Dollars ($1,000,000.00). The Purchase Price shall be paid by the
      Investor to the Company on the Closing Date by a wire transfer or check of
      the
      Purchase Price into escrow to be held by the escrow agent pursuant to the terms
      of the Escrow Agreement. The Company shall cause the Preferred Stock and the
      Warrants to be issued to the Investor upon the release of the Purchase Price
      to
      the Company by the escrow agent pursuant to the terms of the Escrow Agreement.
      The Company shall register the shares of Common Stock into which the Preferred
      Stock is convertible pursuant to the terms and conditions of a Registration
      Rights Agreement attached hereto as Exhibit
      B.

     

    (b) Each
      share of Preferred stock shall initially be convertible by the Investor into
      One
      (1) share of Common Stock; provided, however, that the Investor shall not be
      entitled to convert the Preferred Stock into shares of Common Stock that would
      result in beneficial ownership by the Investor and its affiliates of more than
      4.9% of the then outstanding number of shares of Common Stock on such date.
      For
      the purposes of the immediately preceding sentence, beneficial ownership shall
      be determined in accordance with Section 13(d) of the Securities Exchange Act
      of
      1934, as amended, and Regulation 13d-3 thereunder.

     

    (c) Upon
      execution and delivery of this Agreement and the Company’s receipt of the
      Purchase Price from the Escrow Agent pursuant to the terms of the Escrow
      Agreement, the Company shall issue to the Investor the Warrant to purchase
      an
      aggregate of Fifteen Million shares of Common Stock at exercise prices as stated
      in the Warrants, all pursuant to the terms and conditions of the form of
      Warrants attached hereto as Exhibit
      C;
      provided, however, that the Investor shall not be entitled to exercise the
      Warrants and receive shares of Common Stock that would result in beneficial
      ownership by the Investor and its affiliates of more than 4.9% of the then
      outstanding number of shares of Common Stock on such date. For the purposes
      of
      the immediately preceding sentence, beneficial ownership shall be determined
      in
      accordance with Section 13(d) of the Securities Exchange Act of 1934, as
      amended, and Regulation 13d-3 thereunder. 

     

    
      
        
        

      

      
        
          
            
            

          

          WIRELESS
            AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

          PAGE 4
            OF 29

        

        
          

        

      

      
        
        

      

    

    2.2 Purchase
      Price.
      The
      Purchase Price shall be delivered by the Investor in the form of a check or
      wire
      transfer made payable to the Company in United States Dollars from the Investor
      to the escrow agent pursuant to the Escrow Agreement on the Closing
      Date.

    

     

    ARTICLE
      III

     

    CLOSING
      DATE AND DELIVERIES AT CLOSING

    

    3.1 Closing
      Date. The
      closing of the transactions contemplated by this Agreement (the “Closing”),
      unless expressly determined herein, shall be held at the offices of the Company,
      at 5:00 P.M. local time, on the Closing Date or on such other date and at such
      other place as may be mutually agreed by the parties, including closing by
      facsimile with originals to follow. 

    

    3.2 Deliveries
      by the Company.
      In
      addition to and without limiting any other provision of this Agreement, the
      Company agrees to deliver, or cause to be delivered, to the escrow agent under
      the Escrow Agreement, the following: 

     

    
      	(a)  	
              At
                or prior to Closing, an executed Agreement with all exhibits and
                schedules
                attached hereto;

            

    

    
      	(b)  	
              At
                or prior to Closing, an executed Warrant in the name of the Investor
                in
                the form attached hereto as Exhibit
                C;

            

    

    
      	(c)  	
              The
                executed Registration Rights
                Agreement;

            

    

    
      	(d)  	
              Certifications
                in form and substance acceptable to the Company and the Investor
                from any
                and all brokers or agents involved in the transactions contemplated
                hereby
                as to the amount of commission or compensation payable to such broker
                or
                agent as a result of the consummation of the transactions contemplated
                hereby and from the Company or Investor, as appropriate, to the effect
                that reasonable reserves for any other commissions or compensation
                that
                may be claimed by any broker or agent have been set
                aside;

            

    

    
      	(e)  	
              Management
                letter from the accountants and
                MD&A;

            

    

     

    
      
        
        

      

      
        
           

          PREFERRED
            STOCK PURCHASE AGREEMENT BETWEEN

          WIRELESS
            AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

          PAGE 5
            OF 29

        

        
          

        

      

      
        
        

      

    

     

    
      	(f)  	
              Evidence
                of approval of the Board of Directors of the Company of the Transaction
                Documents and the transactions contemplated
                hereby;

            

    

    
      	(g)  	
              Certificate
                of the President and the Secretary of the Company that the Certificate
                of
                Designation has been adopted and
                filed;

            

    

    
      	(h)  	
              Certificate
                of Amendment to the Certificate of Incorporation of the Company adopting
                the provision described in Section
                6.18

            

    

    
      	(i)  	
              Certificates
                of Existence or Authority to Transact Business of the Company issued
                by
                the Secretary of State for Nevada;

            

    

    
      	(j)  	
              An
                opinion from the Company’s counsel concerning the Transaction Documents
                and the transactions contemplated hereby in form and substance reasonably
                acceptable to Investor;

            

    

    
      	(k)  	
              Stock
                Certificate in the name of Investor evidencing the Preferred
                Stock;

            

    

    
      	(l)  	
              The
                executed Escrow Agreement; and

            

    

    
      	(m)  	
              Copies
                of all executive employment agreements, all past and present financing
                documentation or other documentation where stock could potentially
                be
                issued or issued as payment, all past and present litigation documents
                and
                historical financials.

            

    

    
      	(n)  	
              Such
                other documents or certificates as shall be reasonably requested
                by
                Investor or its counsel.

            

    

     

    3.3 Deliveries
      by Investor.
      In
      addition to and without limiting any other provision of this Agreement, the
      Investor agrees to deliver, or cause to be delivered, to the escrow agent under
      the Escrow Agreement, the following: 

     

    
      	(a)  	
              A
                deposit in the amount of the Investor
                Funds;

            

    

    
      	(b)  	
              The
                executed Agreement with all Exhibits and Schedules attached
                hereto;

            

    

    
      	(c)  	
              The
                executed Registration Rights Agreement;

            

    

    
      	(d)  	
              The
                executed Escrow Agreement; and

            

    

    
      	(e)  	
              Such
                other documents or certificates as shall be reasonably requested
                by the
                Company or its counsel.

            

    

     

    In
      the
      event any document provided to the other party in Paragraphs 3.2 and 3.3 herein
      are provided by facsimile, the party shall forward an original document to
      the
      other party within seven (7) business days.

     

    3.4  Further
      Assurances.
      The
      Company and the Investor shall, upon request, on or after the Closing Date,
      cooperate with each other (specifically, the Company shall cooperate with the
      Investor, and the Investor shall cooperate with the Company) by furnishing
      any
      additional information, executing and delivering any additional documents and/or
      other instruments and doing any and all such things as may be reasonably
      required by the parties or their counsel to consummate or otherwise implement
      the transactions contemplated by this Agreement. 

     

    3.5  Waiver.
      The
      Investor may waive any of the requirements of Section 3.2 of this Agreement,
      and
      the Company at its discretion may waive any of the provisions of Section 3.3
      of
      this Agreement. The Investor may also waive any of the requirements of the
      Company under the Escrow Agreement.

     

    
      
        
        

      

      
        
           

          PREFERRED
            STOCK PURCHASE AGREEMENT BETWEEN

          WIRELESS
            AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

          PAGE 6
            OF 29

        

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      IV

    

    REPRESENTATIONS
      AND WARRANTIES OF 

    WIRELESS
      AGE COMMUNICATIONS, INC. 

    

    The
      Company represents and warrants to the Investor as of the date hereof and as
      of
      Closing (which warranties and representations shall survive the Closing
      regardless of what examinations, inspections, audits and other investigations
      the Investor has heretofore made or may hereinafter make with respect to such
      warranties and representations) as follows: 

     

    4.1 Organization
      and Qualification.
      The
      Company is a corporation duly organized, validly existing and in good standing
      under the laws of the State of Nevada, and has the requisite corporate power
      and
      authority to own, lease and operate its properties and to carry on its business
      as it is now being conducted and is duly qualified to do business in any other
      jurisdiction by virtue of the nature of the businesses conducted by it or the
      ownership or leasing of its properties, except where the failure to be so
      qualified will not, when taken together with all other such failures, have
      a
      Material Adverse Effect on the business, operations, properties, assets,
      financial condition or results of operation of the Company and its subsidiaries
      taken as a whole.

     

    4.2 Articles
      of Incorporation and By-Laws.
      The
      complete and correct copies of the Company’s Articles and By-Laws, as amended or
      restated to date which have been filed with the Securities and Exchange
      Commission are a complete and correct copy of such document as in effect on
      the
      date hereof and as of the Closing Date.

     

    4.3 Capitalization 

     

    4.3.1
      The
      authorized and outstanding capital stock of the Company is set forth in The
      Company’s Annual Report on Form 10-KSB, filed on March 30, 2006 with the
      Securities and Exchange Commission and updated on all subsequent SEC Documents.
      All shares of capital stock have been duly authorized and are validly issued,
      and are fully paid and no assessable, and free of preemptive
      rights.

     

    4.3.2 As
      of the
      date of this Agreement, the authorized capital stock of the Company consists
      of
      100,000,000 shares of common Stock ($.001 par value) and 10,000,000 shares
      of
      preferred stock ($.001 par value), of which approximately 31,170,775 share
      of
      common Stock are issued and outstanding. As of Closing, following the issuance
      by the Company of the Preferred Stock to the Investor, the authorized capital
      stock of the Company will consist of 100,000,000 shares of Common Stock ($.001
      par value) and 10,000,000 shares of preferred stock ($.001 par value), of which
      approximately 31,170,775 share of Common Stock and 7,142,900 shares of preferred
      stock shall be issued and outstanding. As of Closing, the Stock Option Holders
      will hold options to purchase an aggregate of zero (0) shares of Common Stock.
      All outstanding shares of capital stock have been duly authorized and are
      validly issued, and are fully paid and nonassessable and free of preemptive
      rights. All shares of capital stock described above to be issued have been
      duly
      authorized and when issued, will be validly issued, fully paid and nonassessable
      and free of preemptive rights. Schedule 4.3.2 hereby contains all shares and
      derivatives currently and potentially outstanding. The company hereby represents
      that any and all shares and current potentially dilutive events have been
      included in Schedule 4.3.2, including employment agreements, acquisition,
      consulting agreements, debts, payments, financing or business relationships
      that
      could be paid in equity, derivatives or resulting in additional equity issuances
      that could potentially occur.

     

    
      
        
        

      

      
        
           

          PREFERRED
            STOCK PURCHASE AGREEMENT BETWEEN

          WIRELESS
            AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

          PAGE 7
            OF 29

        

        
          

        

      

      
        
        

      

    

    4.3.3
      Except pursuant to this Agreement and as set forth in Schedule 4.3 hereto,
      and
      as set forth in the Company’s SEC Documents, filed with the SEC, as of the date
      hereof and as of the Closing Date, there are not now outstanding options,
      warrants, rights to subscribe for, calls or commitments of any character
      whatsoever relating to, or securities or rights convertible into or exchangeable
      for, shares of any class of capital stock of the Company, or agreements,
      understandings or arrangements to which the Company is a party, or by which
      the
      Company is or may be bound, to issue additional shares of its capital stock
      or
      options, warrants, scrip or rights to subscribe for, calls or commitment of
      any
      character whatsoever relating to, or securities or rights convertible into
      or
      exchangeable for, any shares of any class of its capital stock. The Company
      agrees to inform the Investors in writing of any additional warrants granted
      prior to the Closing Date.

     

    4.3.4
      The
      Company on the Closing Date (i) will have full right, power, and authority
      to
      sell, assign, transfer, and deliver, by reason of record and beneficial
      ownership, to the Investor, the Company Shares hereunder, free and clear of
      all
      liens, charges, claims, options, pledges, restrictions, and encumbrances
      whatsoever; and (ii) upon conversion of the Preferred Stock or exercise of
      the
      Warrants, the Investor will acquire good and marketable title to such Shares,
      free and clear of all liens, charges, claims, options, pledges, restrictions,
      and encumbrances whatsoever, except as otherwise provided in this Agreement
      as
      to the limitation on the voting rights of such Shares in certain
      circumstances.

     

    4.4  Authority.
      The
      Company has all requisite corporate power and authority to execute and deliver
      this Agreement, the Preferred Stock, and the Warrants, to perform its
      obligations hereunder and thereunder and to consummate the transactions
      contemplated hereby and thereby. The execution and delivery of this Agreement
      by
      the Company and the consummation of the transactions contemplated hereby have
      been duly authorized by all necessary corporate action and no other corporate
      proceedings on the part of the Company is necessary to authorize this Agreement
      or to consummate the transactions contemplated hereby except as disclosed in
      this Agreement. This Agreement has been duly executed and delivered by the
      Company and constitutes the legal, valid and binding obligation of the Company,
      enforceable against the Company in accordance with its terms.

     

    
      
        
        

      

      
        
           

          PREFERRED
            STOCK PURCHASE AGREEMENT BETWEEN

          WIRELESS
            AGE COMMUNICATIONS, INC. AND BARRON PARTNERS LP

          PAGE 8
            OF 29

        

        
          

        

      

      
        
        

      

    

    4.5  No
      Conflict; Required Filings and Consents.
      The
      execution and delivery of this Agreement by the Company does not, and the
      performance by the Company of their respective obligations hereunder will not:
      (i) conflict with or violate the Articles or By-Laws of the Company; (ii)
      conflict with, breach or violate any federal, state, foreign or local law,
      statute, ordinance, rule, regulation, order, judgment or decree (collectively,
      "Laws")
      in
      effect as of the date of this Agreement and applicable to the Company; or (iii)
      result in any breach of, constitute a default (or an event that with notice
      or
      lapse of time or both would become a default) under, give to any other entity
      any right of termination, amendment, acceleration or cancellation of, require
      payment under, or result in the creation of a lien or encumbrance on any of
      the
      properties or assets of the Company pursuant to, any note, bond, mortgage,
      indenture, contract, agreement, lease, license, permit, franchise or other
      instrument or obligation to which the Company is a party or by the Company
      or
      any of its properties or assets is bound. Excluding from the foregoing are
      such
      violations, conflicts, breaches, defaults, terminations, accelerations,
      creations of liens, or incumbency that would not, in the aggregate, have a
      Material Adverse Effect.

     

    4.6  Report
      and Financial Statements.
      The
      Company’s Annual Report on Form 10-KSB, filed on March 30, 2006 with the SEC
      contains the audited financial statements of the Company. The Company has
      previously provided to the Investor the auditor reviewed financial statements
      of
      the Company for the three months ended March 31, 2006 (collectively, the
“Financial
      Statements”).
      Each
      of the balance sheets contained in or incorporated by reference into any such
      Financial Statements (including the related notes and schedules thereto) fairly
      presented the financial position of the Company, as of its date, and each of
      the
      statements of income and changes in stockholders’ equity and cash flows or
      equivalent statements in such Financial Statements (including any related notes
      and schedules thereto) fairly presents, changes in stockholders’ equity and
      changes in cash flows, as the case may be, of the Company, for the periods
      to
      which they relate, in each case in accordance with United States generally
      accepted accounting principles (“U.S.
      GAAP”)
      consistently applied during the periods involved, except in each case as may
      be
      noted therein, subject to normal year-end audit adjustments in the case of
      unaudited statements. The books and records of the Company have been, and are
      being, maintained in all material respects in accordance with U.S. GAAP and
      any
      other applicable legal and accounting requirements and reflect only actual
      transaction. 

     

    4.7  Compliance
      with Applicable Laws.
      The
      Company is not in violation of, or, to the knowledge of the Company is under
      investigation with respect to or has been given notice or has been charged
      with
      the violation of any Law of a governmental agency, except for violations which
      individually or in the aggregate do not have a Material Adverse Effect.

     

    4.8  Brokers.
      Except
      as set forth on Schedule 4.8, no broker, finder or investment banker is entitled
      to any brokerage, finder's or other fee or Commission in connection with the
      transactions contemplated by this Agreement based upon arrangements made by
      or
      on behalf of the Company.

     

    
      
        
        

      

      
        
           

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    4.9  SEC
      Documents.
      The
      Company acknowledges that the Company is a publicly held company and has made
      available to the Investor after demand true and complete copies of any requested
      SEC Documents. The Company has registered its Common Stock pursuant to Section
      12(d) [15(d)]
      of
      the
      1934 Act, and the Common Stock is quoted and traded on the OTC Bulletin Board
      of
      the National Association of Securities Dealers, Inc. The Company has received
      no
      notice, either oral or written, with respect to the continued quotation or
      trading of the Common Stock on the OTC Bulletin Board. The Company has not
      provided to the Investor any information that, according to applicable law,
      rule
      or regulation, should have been disclosed publicly prior to the date hereof
      by
      the Company, but which has not been so disclosed. As of their respective dates,
      the SEC Documents complied in all material respects with the requirements of
      the
      1934 Act, and rules and regulations of the SEC promulgated thereunder and the
      SEC Documents did not contain any untrue statement of a material fact or omit
      to
      state a material fact required to be stated therein or necessary in order to
      make the statements therein, in light of the circumstances under which they
      were
      made, not misleading.

     

    4.10  Litigation.
      To the
      knowledge of the Company, no litigation, claim, or other proceeding before
      any
      court or governmental agency is pending or to the knowledge of the Company,
      threatened against the Company, the prosecution or outcome of which may have
      a
      Material Adverse Effect, other than the Richard Thomas wrongful dismissal
      lawsuit.

     

    4.11  Exemption
      from Registration.
      Subject
      to the accuracy of the Investor’s representations in Article V, except as
      required pursuant to the Registration Rights Agreement, the sale of the Common
      Stock and Warrants by the Company to the Investor will not require registration
      under the 1933 Act, but may require registration under New York state securities
      law if applicable to the Investor. When validly converted in accordance with
      the
      terms of the Preferred Stock, and upon exercise of the Warrants in accordance
      with their terms, the Shares underlying the Preferred Stock and the Warrants
      will be duly and validly issued, fully paid, and non-assessable. The Company
      is
      issuing the Preferred Stock and the Warrants in accordance with and in reliance
      upon the exemption from securities registration afforded, inter alia, by Rule
      506 under Regulation D as promulgated by the SEC under the 1933 Act, and/or
      Section 4(2) of the 1933 Act; provided, however, that certain filings and
      registrations may be required under state securities “blue sky” laws depending
      upon the residency of the Investor.

     

    4.12  No
      General Solicitation or Advertising in Regard to this
      Transaction.
      Neither
      the Company nor any of its Affiliates nor, to the knowledge of the Company,
      any
      Person acting on its or their behalf (i) has conducted or will conduct any
      general solicitation (as that term is used in Rule 502(c) of Regulation D as
      promulgated by the SEC under the 1933 Act) or general advertising with respect
      to the sale of the Preferred Stock or Warrants, or (ii) made any offers or
      sales
      of any security or solicited any offers to buy any security under any
      circumstances that would require registration of the Preferred Stock or
      Warrants, under the 1933 Act, except as required herein.

     

    
      
        
        

      

      
        
           

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    4.13  No
      Material Adverse Effect.
      Except
      as set forth in Schedule 4.13 attached hereto, since March 31, 2006, no event
      or
      circumstance resulting in a Material Adverse Effect has occurred or exists
      with
      respect to the Company. No material supplier or customer has given notice,
      oral
      or written, that it intends to cease or reduce the volume of its business with
      the Company from historical levels. Since March 31, 2006, no event or
      circumstance has occurred or exists with respect to the Company or its
      businesses, properties, prospects, operations or financial condition, that,
      under any applicable law, rule or regulation, requires public disclosure or
      announcement prior to the date hereof by the Company but which has not been
      so
      publicly announced or disclosed in writing to the Investor.

     

    4.14  Material
      Non-Public Information.
      The
      Company has not disclosed to the Investors any material non-public information
      that (i) if disclosed, would reasonably be expected to have a material effect
      on
      the price of the Common Stock or (ii) according to applicable law, rule or
      regulation, should have been disclosed publicly by the Company prior to the
      date
      hereof but which has not been so disclosed.

     

    4.15  Internal
      Controls And Procedures.
      The
      Company maintains books and records and internal accounting controls which
      provide reasonable assurance that (i) all transactions to which the Company
      or
      any subsidiary is a party or by which its properties are bound are executed
      with
      management's authorization; (ii) the recorded accounting of the Company's
      consolidated assets is compared with existing assets at regular intervals;
      (iii)
      access to the Company's consolidated assets is permitted only in accordance
      with
      management's authorization; and (iv) all transactions to which the Company
      or
      any subsidiary is a party or by which its properties are bound are recorded
      as
      necessary to permit preparation of the financial statements of the Company
      in
      accordance with U.S. generally accepted accounting principles.

     

    4.16  Full
      Disclosure.
      No
      representation or warranty made by the
      Company in
      this
      Agreement and no certificate or document furnished or to be furnished to the
      Investor pursuant to this Agreement contains or will contain any untrue
      statement of a material fact, or omits or will omit to state a material fact
      necessary to make the statements contained herein or therein not
      misleading.

     

    4.17  Independent
      Board.
      As of
      the date of this Agreement, the Board of Directors of the Company consists
      of a
      three directors with a majority being independent as defined by the NASD. Within
      30 days of Closing, the Board of Directors of the Company shall consist of
      five
      directors, three of whom shall be independent. As of the date of this Agreement,
      the Audit and Compensation Committees of the Board of Directors of the Company
      are comprised, and at the Closing will be comprised, of independent
      directors.

     

    

    
      
        
        

      

      
        
           

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    ARTICLE
      V

    

    REPRESENTATIONS
      AND WARRANTIES OF THE INVESTORS

     

    The
      Investor represents and warrants to the Company that:

    

    5.1  Organization
      and Standing of the Investor.
      The
      Investor is a limited partnership duly formed, validly existing and in good
      standing under the laws of the State of Delaware. The state in which any offer
      to purchase shares hereunder was made or accepted by such Investor is the state
      shown as such Investor’s address. The Investor was not formed for the purpose of
      investing solely in the Preferred Stock, the Warrants or the shares of Common
      Stock which are the subject of this Agreement.

     

    5.2  Authorization
      and Power.
      The
      Investor has the requisite power and authority to enter into and perform this
      Agreement and to purchase the securities being sold to it hereunder. The
      execution, delivery and performance of this Agreement by the Investor and the
      consummation by the Investor of the transactions contemplated hereby have been
      duly authorized by all necessary partnership action where appropriate. This
      Agreement and the Registration Rights Agreement have been duly executed and
      delivered by the Investor and at the Closing shall constitute valid and binding
      obligations of the Investor enforceable against the Investor in accordance
      with
      their terms, except as such enforceability may be limited by applicable
      bankruptcy, insolvency, reorganization, moratorium, liquidation,
      conservatorship, receivership or similar laws relating to, or affecting
      generally the enforcement of, creditors' rights and remedies or by other
      equitable principles of general application.

     

    5.3  No
      Conflicts.
      The
      execution, delivery and performance of this Agreement and the consummation
      by
      the Investor of the transactions contemplated hereby or relating hereto do
      not
      and will not (i) result in a violation of such Investor's charter documents
      or
      bylaws where appropriate or (ii) conflict with, or constitute a default (or
      an
      event which with notice or lapse of time or both would become a default) under,
      or give to others any rights of termination, amendment, acceleration or
      cancellation of any agreement, indenture or instrument to which the Investor
      is
      a party, or result in a violation of any law, rule, or regulation, or any order,
      judgment or decree of any court or governmental agency applicable to the
      Investor or its properties (except for such conflicts, defaults and violations
      as would not, individually or in the aggregate, have a Material Adverse Effect
      on such Investor). The Investor is not required to obtain any consent,
      authorization or order of, or make any filing or registration with, any court
      or
      governmental agency in order for it to execute, deliver or perform any of such
      Investor’s obligations under this Agreement or to purchase the securities from
      the Company in accordance with the terms hereof, provided that for purposes
      of
      the representation made in this sentence, the Investor is assuming and relying
      upon the accuracy of the relevant representations and agreements of the Company
      herein.

     

    5.4  Financial
      Risks.
      The
      Investor acknowledges that such Investor is able to bear the financial risks
      associated with an investment in the securities being purchased by the Investor
      from the Company and that it has been given full access to such records of
      the
      Company and the subsidiaries and to the officers of the Company and the
      subsidiaries as it has deemed necessary or appropriate to conduct its due
      diligence investigation. The Investor is capable of evaluating the risks and
      merits of an investment in the securities being purchased by the Investor from
      the Company by virtue of its experience as an investor and its knowledge,
      experience, and sophistication in financial and business matters and the
      Investor is capable of bearing the entire loss of its investment in the
      securities being purchased by the Investor from the Company.

     

    
      
        
        

      

      
        
           

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    5.5  Accredited
      Investor.
      The
      Investor is (i) an “accredited investor” as that term is defined in Rule 501 of
      Regulation D promulgated under the 1933 Act by reason of Rule 501(a)(3) and
      (6),
      (ii) experienced in making investments of the kind described in this Agreement
      and the related documents, (iii) able, by reason of the business and financial
      experience of its officers (if an entity) and professional advisors (who are
      not
      affiliated with or compensated in any way by the Company or any of its
      affiliates or selling agents), to protect its own interests in connection with
      the transactions described in this Agreement, and the related documents, and
      (iv) able to afford the entire loss of its investment in the securities being
      purchased by the Investor from the Company. 

     

    5.6  Brokers.
      Except
      as set forth in Schedule 4.8, no broker, finder or investment banker is entitled
      to any brokerage, finder's or other fee or Commission in connection with the
      transactions contemplated by this Agreement based upon arrangements made by
      or
      on behalf of the Investor.

     

    5.7  Knowledge
      of Company.
      The
      Investor and such Investor’s advisors, if any, have been, upon request,
      furnished with all materials relating to the business, finances and operations
      of the Company and materials relating to the offer and sale of the securities
      being purchased by the Investor from the Company. The Investor and such
      Investor’s advisors, if any, have been afforded the opportunity to ask questions
      of the Company and have received complete and satisfactory answers to any such
      inquiries.

     

    5.8  Risk
      Factors.
      The
      Investor understands that such Investor’s investment in the securities being
      purchased by the Investor from the Company involves a high degree of risk.
      The
      Investor understands that no United States federal or state agency or any other
      government or governmental agency has passed on or made any recommendation
      or
      endorsement of the securities being purchased by the Investor from the Company.
      The Investor warrants that such Investor is able to bear the complete loss
      of
      such Investor’s investment in the securities being purchased by the Investor
      from the Company.

     

    5.9  Full
      Disclosure.
      No
      representation or warranty made by the Investor in this Agreement and no
      certificate or document furnished or to be furnished to the Company pursuant
      to
      this Agreement contains or will contain any untrue statement of a material
      fact,
      or omits or will omit to state a material fact necessary to make the statements
      contained herein or therein not misleading. Except as set forth or referred
      to
      in this Agreement, Investor does not have any agreement or understanding with
      any person relating to acquiring, holding, voting or disposing of any equity
      securities of the Company.

     

    
      
        
        

      

      
        
           

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    5.10  Payment
      of Due Diligence Expenses.
      At
      Closing the Escrow Agent shall disperse to the Investor Seventy Five Thousand
      Dollars ($75,000.00) for due diligence expenses.

     

    

     

    ARTICLE
      VI

    

    COVENANTS
      OF THE COMPANY

    

    6.1  All
      covenants of the Company will remain in effect so long as the Investor holds
      five percent (5%) of the registrable securities

     

    6.2  Registration
      Rights.
      The
      Company shall cause the Registration Rights Agreement to remain in full force
      and effect according to the provisions of the Registration Rights Agreement
      and
      the Company shall comply in all material respects with the terms
      thereof.

     

    6.3  Reservation
      of Common Stock.
      As of
      the date hereof, the Company has reserved and the Company shall continue to
      reserve and keep available at all times, free of preemptive rights, shares
      of
      Common Stock for the purpose of enabling the Company to issue the shares of
      Common Stock underlying the Preferred Stock and Warrants. 

     

    6.4  Compliance
      with Laws.
      The
      Company hereby agrees to comply in all respects with the Company's reporting,
      filing and other obligations under the Laws.

     

    6.5  Exchange
      Act Registration.
      The
      Company (a) will continue its obligation to report to the SEC under Section
      E
      12(d) of the 1934 Act [or
      (b)
      shall register under Section 12(b) or (g) under the 1934 Act and thereafter
      shall continue to be registered thereunder]
      and
      [
      in
      either case]
      will
      use
      its best efforts to comply in all respects with its reporting and filing
      obligations under the 1934 Act, and will not take any action or file any
      document (whether or not permitted by the 1934 Act or the rules thereunder)
      to
      terminate or suspend any such registration or to terminate or suspend its
      reporting and filing obligations under the 1934 until the Investors have
      disposed of all of their Shares.

     

    6.6  Corporate
      Existence; Conflicting Agreements.
      The
      Company will take all steps necessary to preserve and continue the corporate
      existence of the Company. The Company shall not enter into any agreement, the
      terms of which agreement would restrict or impair the right or ability of the
      Company to perform any of its obligations under this Agreement or any of the
      other agreements attached as exhibits hereto.

     

    6.7  Listing,
      Securities Exchange Act of 1934 and Rule 144
      Requirements.
      The
      Company is required to maintain their current or a listing on a higher exchange
      and maintain their status as a Company regulated by Securities Exchange Act
      of
      1934 and if the Company is current currently listed on the Pink Sheets the
      Company must be fully reporting per Rule 144 until such time as they are
      regulated by the Securities Exchange Act of 1934. If for any time post Closing
      the Company is no longer regulated by the Securities Exchange Act of 1934 and
      is
      not a fully reporting Company, then the Company shall pay to the Investors
      as
      liquidated damages and not as a penalty, Five Percent
      (5%)
      a month
      in Cash or PIK at the option of the Investor. Such damages shall cease at the
      time the Company begins complying with the standards as mentioned above in
      Section 6.6. 

     

    
      
        
        

      

      
        
           

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    6.8  Preferred
      Stock.
      On
      or
      prior to the Closing Date, the Company will cause to be cancelled all preferred
      stock in the Company with the exceptions of Preferred Stock issued to the
      Investor. For a period of four years from the closing or when the Investor
      no
      longer holds more than five percent (5%) of its shares of Registrable
      Securities, whichever occurs first, the Company will not issue any preferred
      stock of the Company with the exception of Preferred Stock issued to the
      Investor.

     

    6.9  Convertible
      Debt.
      On
      or
      prior to the Closing Date, the Company will cause to be cancelled all
      convertible debt in the Company. For a period of four years from the closing
      or
      when the Investor no longer holds more than five percent (5%) of its shares
      of
      Registrable Securities, whichever occurs first, the Company will not issue
      any
      convertible debt.

     

    6.10  Debt
      Limitation.
      The
      Company agrees for a period of four years from the closing or when the Investor
      no longer holds more than five percent (5%) of its shares of Registrable
      Securities, whichever occurs first, not to have any borrowings of more than
      two
      and half times (2.5X) as much as the sum of the EBITDA from continuing
      operations over the past four quarters.

     

    6.11  Reset
      Equity Deals.
      On
      or
      prior to the Closing Date, the Company will cause to be cancelled any and all
      reset features related to any shares outstanding that could result in additional
      shares being issued. For a period of five years from the closing the Company
      will not enter into any transactions that have any reset features that could
      result in additional shares being issued.

     

    6.12  Independent
      Directors.
      The
      Company shall have caused the appointment of the majority of the board of
      directors to be qualified independent directors, as defined by the NASD, before
      Closing. If anytime after 30 days from Closing the board shall not be composed
      of a minimum five directors with the majority being qualified independent
      directors, the Company shall pay to the Investors, pro rata, as liquidated
      damages and not as a penalty, an amount equal to twenty eight percent (28%)
      of
      the Purchase Price per annum, payable monthly in cash or Preferred Stock at
      the
      option of the Investor. The parties agree that the only damages payable for
      a
      violation of the terms of this Agreement with respect to which liquidated
      damages are expressly provided shall be such liquidated damages. Nothing shall
      preclude the Investor from pursuing or obtaining specific performance or other
      equitable relief with respect to this Agreement. The parties hereto agree that
      the liquidated damages provided for in this Section 6.10 constitute a reasonable
      estimate of the damages that may be incurred by the Investor by reason of the
      failure of the Company to appoint at least two independent directors in
      accordance with the provision hereof.

     

    
      
        
        

      

      
        
           

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    6.13  Independent
      Directors Become Majority of Audit and Compensation
      Committees.
      The
      Company will cause the appointment of a majority of outside directors to the
      audit and compensation committees of the board of directors within 30 days
      of
      Closing. If at any time after 30 days from Closing such independent directors
      do
      not compose the majority of the audit and compensation committees, the Company
      shall pay to the Investors, pro rata, as liquidated damages and not as a
      penalty, an amount equal to twenty eight percent (28%) of the Purchase Price
      per
      annum, payable monthly in cash or Preferred Stock at the option of the Investor.
      The parties agree that the only damages payable for a violation of the terms
      of
      this Agreement with respect to which liquidated damages are expressly provided
      shall be such liquidated damages. Nothing shall preclude the Investor from
      pursuing other remedies or obtaining specific performance or other equitable
      relief with respect to this Agreement. 

     

    6.14  Use
      of Proceeds.
      The
      Company will use the proceeds from the sale of the Preferred Stock and the
      Warrants (excluding amounts paid by the Company for legal and administrative
      fees in connection with the sale of such securities) for retirement of debt,
      working capital and acquisitions.

     

    6.15  Right
      of First Refusal.
      For a
      period of four years from the closing or when the Investor no longer holds
      more
      than five percent (5%) of its shares of Registrable Securities, whichever occurs
      first, the Investor shall have the right to participate in any subsequent
      funding by the Company on a pro rata basis at eighty percent (90%) of the
      offering price.

     

    6.16  Price
      Adjustment.
      From
      the
      date hereof until such time as no Purchaser holds any of the Securities, the
      Company closes on the sale of a note or notes, shares of Common Stock, or shares
      of any class of Preferred Stock at a price per share of Common Stock, or with
      a
      conversion right to acquire Common Stock at a price per share of Common Stock,
      that is less than the Conversion Price (as adjusted to the capitalization per
      share as of the Closing Date, following any stock splits, stock dividends,
      or
      the like) (collectively, the “Subsequent Conversion Price”), the Company shall
      make a post-Closing adjustment in the Conversion Price so that the effective
      price per share paid by the Investor is reduced to being equivalent to such
      lower conversion price.

     

    
      
        
        

      

      
        
           

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    6.17  Price
      Adjustment Based on 2006 and 2007 Earnings Per Share.
      

     

    
      	6.17.1  	
              In
                the event the Company earns between $0.006 and $0.012 per share during
                fiscal 2006 (where such
                earnings in this paragraph shall always be defined as earnings on
                a pre
                tax fully diluted basis as reported for the audited fiscal year ended
                December 31, 2006 from continuing operations including the Wireless
                Works
                division after September 30, 2006, but before any non-recurring items
                and
                effects of; a) the Midland receivable, and b) the issuance of bonus
                shares
                from the Nokia contract to Brad Poulos and Glenn Poulos) the then
                current
                Conversion Price to the Investor at the time the audited numbers
                are
                reported to the SEC shall be decreased proportionately. Such decrease
                will
                be calculated by subtracting the actual earnings per share amount
                from
                $0.012 and dividing such result by $0.012, which shall be expressed
                as a
                percentage (the “2006 Adjustment Percentage”). The adjusted Conversion
                Value shall thereafter be determined by multiplying the Conversion
                Value
                in effect immediately preceding such adjustment by the 2006 Adjustment
                Percentage, and subtracting such result (the “2006 Adjustment Amount”)
                from the Conversion Price in effect immediately preceding such adjustment.
                In the event the actual earnings per share amount exceeds $0.012
                there
                will be no adjustment to the current Conversion Price. For example
                if the
                earnings are $0.009 per share (25% Decline) then the then current
                Conversion Price to the investor shall be reduced by a 2006 Adjustment
                Amount equal to 25% of
                the Conversion Value in effect immediately preceding such
                adjustment.
                In the event the Company earns equal to or less than $0.006 per share,
                the
                2006 Adjustment Amount will be equal to 50%. Such adjustment shall
                be made
                within five business days of the audited numbers being reported to
                the
                SEC, and shall be cumulative upon any other changes to the Conversion
                Price to the Investor that may already have been made.  

            

    

     

    
      	6.17.2  	
              In
                the event the Company earns between $0.034 and $0.069 per share during
                fiscal 2007 (where such
                earnings in this paragraph shall always be defined as earnings on
                a pre
                tax fully diluted basis as reported for the audited fiscal year ended
                December 31, 2007 from continuing operations including the Wireless
                Works
                division, but before any non-recurring items) the then current Conversion
                Price to the Investor at the time the audited numbers are reported
                to the
                SEC shall be decreased. Such decrease will be calculated by subtracting
                the actual earnings per share amount from $0.069 and dividing such
                result
                by $0.069 , which shall be expressed as a percentage (the “2007 Adjustment
                Percentage”). The adjusted Conversion Value shall thereafter be determined
                by multiplying the Conversion Value in effect immediately preceding
                such
                adjustment by the 2007 Adjustment Percentage, and subtracting such
                result
                (the “2007 Adjustment Amount”) from the Conversion Price in effect
                immediately preceding such adjustment. In the event the actual earnings
                per share amount exceeds $0.069 there will be no adjustment to the
                current
                Conversion Price. For example if the earnings are $0.052 per share
                (25%
                Decline) then the then current Conversion Price to the investor shall
                be
                reduced by a 2007 Adjustment Amount equal to 25% of the Conversion
                Value
                in effect immediately preceding such adjustment. In the event the
                Company
                earns equal to or less than $0.034 per share, the 2007 Adjustment
                Amount
                will be equal to 50%. Such adjustment shall be made within five business
                days of the audited numbers being reported to the SEC, and shall
                be
                cumulative upon any other changes to the Conversion Price to the
                Investor
                that may already have been made. 

            

    

     

    6.18  Insider
      Selling.
      The
      earliest any “Insiders” can start selling their shares shall be two (2) years
      from Closing. Insiders shall include all officers and directors of the Company.
      Andrew Barron Worden and the Investor shall not be considered
“Insiders”.

     

    
      
        
        

      

      
        
           

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    6.19  Employment
      and Consulting Contracts.
      For
      five
      years after the Closing Company must have a unanimous opinion from the
      Compensation Committee of the Board of Directors that any awards other than
      salary are usual, appropriate and reasonable for any officer, director,
      employee or consultant holding a similar position in other fully reporting
      public companies with independent majority boards with similar market
      capitalizations in the same industry with securities listed on the OTCBB, ASE,
      NYSE or NASDAQ.

     

    6.20  Subsequent
      Equity Sales.
      From
      the
      date hereof until such time as no Purchaser holds any of the Securities, the
      Company shall be prohibited from effecting or entering into an agreement to
      effect any Subsequent Financing involving a “Variable
      Rate Transaction”
or
      an
“MFN
      Transaction”
(each
      as defined below). The term “Variable
      Rate Transaction”
shall
      mean a transaction in which the Company issues or sells (i) any debt or equity
      securities that are convertible into, exchangeable or exercisable for, or
      include the right to receive additional shares of Common Stock either (A) at
      a
      conversion, exercise or exchange rate or other price that is based upon and/or
      varies with the trading prices of or quotations for the shares of Common Stock
      at any time after the initial issuance of such debt or equity securities, or
      (B)
      with a conversion, exercise or exchange price that is subject to being reset
      at
      some future date after the initial issuance of such debt or equity security
      or
      upon the occurrence of specified or contingent events directly or indirectly
      related to the business of the Company or the market for the Common Stock.
      The
      term “MFN
      Transaction”
shall
      mean a transaction in which the Company issues or sells any securities in a
      capital raising transaction or series of related transactions which grants
      to an
      investor the right to receive additional shares based upon future transactions
      of the Company on terms more favorable than those granted to such investor
      in
      such offering. Any Purchaser shall be entitled to obtain injunctive relief
      against the Company to preclude any such issuance, which remedy shall be in
      addition to any right to collect damages. Notwithstanding the foregoing, this
      Section 6.18 shall not apply in respect of an Exempt Issuance, except that
      no
      Variable Rate Transaction or MFN Transaction shall be an Exempt
      Issuance.

     

    6.21  Amendment
      to Certificate of Incorporation. At
      or
      before the next annual meeting of the stockholders of the Company, the Board
      of
      Directors shall propose and submit to the holders of the Common Stock for
      approval, an amendment to the Certificate of Incorporation that provides
      substantially as follows: 

     

    “The
      terms and conditions of any rights, options and warrants approved by the Board
      of Directors may provide that any or all of such terms and conditions may be
      waived or amended only with the consent of the holders of a designated
      percentage of a designated class or classes of capital stock of the Corporation
      (or a designated group or groups of holders within such class or classes,
      including but not limited to disinterested holders), and the applicable terms
      and conditions of any such rights, options or warrants so conditioned may not
      be
      waived or amended absent such consent.”.

     

    6.22  Stock
      Splits.
      All
      forward and reverse stock splits shall effect all equity and derivative holders
      proportionately.

     

    
      
        
        

      

      
        
           

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    ARTICLE
      VII

    

    COVENANTS
      OF THE INVESTOR

    

    7.1 Compliance
      with Law.
      The
      Investor's trading activities with respect to shares of the Company's Common
      Stock will be in compliance with all applicable state and federal securities
      laws, rules and regulations and rules and regulations of any public market
      on
      which the Company's Common Stock is listed. 

     

    7.2  Transfer
      Restrictions. The
      Investor’s acknowledge that (1) the Preferred Stock, Warrants and shares
      underlying the Preferred Stock and Warrants have not been registered under
      the
      provisions of the 1933 Act, and may not be transferred unless (A) subsequently
      registered thereunder or (B) the Investor shall have delivered to the Company
      an
      opinion of counsel, reasonably satisfactory in form, scope and substance to
      the
      Company, to the effect that the Preferred Stock, Warrants and shares underlying
      the Notes and Warrants to be sold or transferred may be sold or transferred
      pursuant to an exemption from such registration; and (2) any sale of the
      Preferred Stock, Warrants and shares underlying the Preferred Stock and Warrants
      made in reliance on Rule 144 promulgated under the 1933 Act may be made only
      in
      accordance with the terms of said Rule and further, if said Rule is not
      applicable, any resale of such securities under circumstances in which the
      seller, or the person through whom the sale is made, may be deemed to be an
      underwriter, as that term is used in the 1933 Act, may require compliance with
      some other exemption under the 1933 Act or the rules and regulations of the
      SEC
      thereunder.

     

    7.3  Restrictive
      Legend. The
      Investor acknowledges and agrees that the Preferred Stock, the Warrants and
      the
      Shares underlying the Preferred Stock and Warrants, and, until such time as
      the
      Shares underlying the Preferred Stock and Warrants have been registered under
      the 1933 Act and sold in accordance with an effective Registration Statement,
      certificates and other instruments representing any of the Shares, shall bear
      a
      restrictive legend in substantially the following form (and a stop-transfer
      order may be placed against transfer of any such securities):

     

    "THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE
      SECURITIES LAWS AND NEITHER SUCH SHARES NOR ANY INTEREST THEREIN MAY BE OFFERED,
      SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION
      STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY
      APPLICABLE STATE SECURITIES LAWS, OR (2) IN ACCORDANCE WITH THE PROVISIONS
      OF
      REGULATION S, OR (3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
      SECURITIES ACT."

     

    7.4  Amendment
      to Certificate of Incorporation.
      Investor
      hereby agrees to vote any shares of capital stock that it may own directly
      or
      beneficially, for the amendment to the Certificate of Incorporation referenced
      in Section 6.20. Pending adoption of such amendment, Investor hereby agrees
      for
      itself and its successors and assigns that neither this Section 7.4 or Section
      6.20 above, or any restriction on exercise of the Warrant shall be amended,
      modified or waived without the consent of the holders of a majority of the
      shares of Common Stock held by Persons who are not Affiliates of the Company,
      or
      the Investor or Affiliates of the Investor.

     

    
      
        
        

      

      
        
           

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    ARTICLE
      VIII

     

    CONDITIONS
      PRECEDENT TO THE COMPANY’S OBLIGATIONS

    

    The
      obligation of the Company to consummate the transactions contemplated hereby
      shall be subject to the fulfillment, on or prior to Closing Date, of the
      following conditions:

    

    8.1 No
      Termination.
      This
      Agreement shall not have been terminated pursuant to Article X
      hereof.

    

    8.2 Representations
      True and Correct.
      The
      representations and warranties of the Investor contained in this Agreement
      shall
      be true and correct in all material respects on and as of the Closing Date
      with
      the same force and effect as if made on as of the Closing Date.

    

    8.3 Compliance
      with Covenants.
      The
      Investor shall have performed and complied in all material respects with all
      covenants, agreements, and conditions required by this Agreement to be performed
      or complied by it prior to or at the Closing Date.

    

    8.4 No
      Adverse Proceedings.
      On the
      Closing Date, no action or proceeding shall be pending by any public authority
      or individual or entity before any court or administrative body to restrain,
      enjoin, or otherwise prevent the consummation of this Agreement or the
      transactions contemplated hereby or to recover any damages or obtain other
      relief as a result of the transactions proposed hereby. 

    

    

    

    ARTICLE
      IX

    

    CONDITIONS
      PRECEDENT TO INVESTOR’S OBLIGATIONS

    

    The
      obligation of the Investors to consummate the transactions contemplated hereby
      shall be subject to the fulfillment, on or prior to Closing Date unless
      specified otherwise, of the following conditions:

    

    9.1 No
      Termination.
      This
      Agreement shall not have been terminated pursuant to Article X
      hereof.

     

    
      
        
        

      

      
        
           

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    9.2 Representations
      True and Correct.
      The
      representations and warranties of the Company contained in this Agreement shall
      be true and correct in all material respects on and as of the Closing Date
      with
      the same force and effect as if made on as of the Closing Date.

     

    9.3 Compliance
      with Covenants .
      The
      Company shall have performed and complied in all material respects with all
      covenants, agreements, and conditions required by this Agreement to be performed
      or complied by it prior to or at the Closing Date.

     

    9.4 No
      Adverse Proceedings.
      On the
      Closing Date, no action or proceeding shall be pending by any public authority
      or individual or entity before any court or administrative body to restrain,
      enjoin, or otherwise prevent the consummation of this Agreement or the
      transactions contemplated hereby or to recover any damages or obtain other
      relief as a result of the transactions proposed hereby. 

     

    

     

    ARTICLE
      X

     

    TERMINATION,
      AMENDMENT AND WAIVER

    

    10.1 Termination.
      This
      Agreement may be terminated at any time prior to the Closing Date

     

    10.1.1 by
      mutual
      written consent of the Investor and the Company;

     

    10.1.2 by
      the
      Company upon a material breach of any representation, warranty, covenant or
      agreement on the part of the Investor set forth in this Agreement, or the
      Investor upon a material breach of any representation, warranty, covenant or
      agreement on the part of the Company set forth in this Agreement, or if any
      representation or warranty of the Company or the Investor, respectively, shall
      have become untrue, in either case such that any of the conditions set forth
      in
      Article VIII or Article IX hereof would not be satisfied (a "Terminating
      Breach"),
      and
      such breach shall, if capable of cure, not have been cured within five (5)
      business days after receipt by the party in breach of a notice from the
      non-breaching party setting forth in detail the nature of such
      breach.

     

    10.2 Effect
      of Termination.
      Except
      as otherwise provided herein, in the event of the termination of this Agreement
      pursuant to Section 10.1 hereof, there shall be no liability on the part of
      the
      Company or the Investor or any of their respective officers, directors, agents
      or other representatives and all rights and obligations of any party hereto
      shall cease; provided that in the event of a Terminating Breach, the breaching
      party shall be liable to the non-breaching party for all costs and expenses
      incurred by the non-breaching party not to exceed $50,000.00.

     

    10.3 Amendment.
      This
      Agreement may be amended by the parties hereto any time prior to the Closing
      Date by an instrument in writing signed by the parties hereto.

     

    
      
        
        

      

      
        
           

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    10.4 Waiver.
      At any
      time prior to the Closing Date, the Company or the Investor, as appropriate,
      may: (a) extend the time for the performance of any of the obligations or other
      acts of other party or; (b) waive any inaccuracies in the representations and
      warranties contained herein or in any document delivered pursuant hereto which
      have been made to it or them; or (c) waive compliance with any of the agreements
      or conditions contained herein for its or their benefit. Any such extension
      or
      waiver shall be valid only if set forth in an instrument in writing signed
      by
      the party or parties to be bound hereby.

     

    

    

    ARTICLE
      XI

     

    GENERAL
      PROVISIONS

    

     

    11.1 Transaction
      Costs.
      Except
      as otherwise provided herein, each of the parties shall pay all of his or its
      costs and expenses (including attorney fees and other legal costs and expenses
      and accountants’ fees and other accounting costs and expenses) incurred by that
      party in connection with this Agreement; provided, the Company shall pay
      Investor such due diligence expenses as described in section 5.10.

     

    11.2 Indemnification.
      The
      Investor agrees to indemnify, defend and hold the Company (following the Closing
      Date) and its officers and directors harmless against and in respect of any
      and
      all claims, demands, losses, costs, expenses, obligations, liabilities or
      damages, including interest, penalties and reasonable attorney’s fees, that it
      shall incur or suffer, which arise out of or result from any breach of this
      Agreement by such Investor or failure by such Investor to perform with respect
      to any of its representations, warranties or covenants contained in this
      Agreement or in any exhibit or other instrument furnished or to be furnished
      under this Agreement. The Company agrees to indemnify, defend and hold the
      Investor harmless against and in respect of any and all claims, demands, losses,
      costs, expenses, obligations, liabilities or damages, including interest,
      penalties and reasonable attorney’s fees, that it shall incur or suffer, which
      arise out of, result from or relate to any breach of this Agreement or failure
      by the Company to perform with respect to any of its representations, warranties
      or covenants contained in this Agreement or in any exhibit or other instrument
      furnished or to be furnished under this Agreement. In no event shall the Company
      or the Investors be entitled to recover consequential or punitive damages
      resulting from a breach or violation of this Agreement nor shall any party
      have
      any liability hereunder in the event of gross negligence or willful misconduct
      of the indemnified party. In the event of a breach of this Agreement by the
      Company, the Investor shall be entitled to pursue a remedy of specific
      performance upon tender into the Court an amount equal to the Purchase Price
      hereunder. The indemnification by the Investor shall be limited to
      $50,000.00.

     

    
      
        
        

      

      
        
           

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    11.3 Headings.
      The
      table of contents and headings contained in this Agreement are for reference
      purposes only and shall not affect in any way the meaning or interpretation
      of
      this Agreement.

     

    11.4 Entire
      Agreement.
      This
      Agreement (together with the Schedule, Exhibits, Warrants and documents referred
      to herein) constitute the entire agreement of the parties and supersede all
      prior agreements and undertakings, both written and oral, between the parties,
      or any of them, with respect to the subject matter hereof. 

     

    11.5 Notices.
      All
      notices and other communications hereunder shall be in writing and shall be
      deemed to have been given (i) on the date they are delivered if delivered in
      person; (ii) on the date initially received if delivered by facsimile
      transmission followed by registered or certified mail confirmation; (iii) on
      the
      date delivered by an overnight courier service; or (iv) on the third business
      day after it is mailed by registered or certified mail, return receipt requested
      with postage and other fees prepaid as follows:

    

    If
      to
      the Company:

    

    Wireless
      Age Communications, Inc.

    6200
      Tomken Rd., Unit A

    Mississauga,
      Ontario L5T 1X7

    Attention:
      Gary N. Hokkanen

    

    

    With
      a
      copy to:

     

    Wuersch
      & Gering, LLP

    100
      Wall
      Street, 21st Floor

    New
      York,
      NY 10012

    Facsimile
      No.: 212-509-5050

    Attn:
      Travis L. Gering, Esq.

     

    If
      to
      the Investor:

    

    Barron
      Partners L.P.

    c/o
      Barron Capital Advisors, LLC

    730
      Fifth
      Avenue, 25th
      Floor

    New
      York,
      New York 10019

    Attn:
      Andrew Barron Worden

    

    11.6 Severability.
      If any
      term or other provision of this Agreement is invalid, illegal or incapable
      of
      being enforced by any rule of law or public policy, all other conditions and
      provisions of this Agreement shall nevertheless remain in full force and effect
      so long as the economic or legal substance of the transactions contemplated
      hereby is not affected in any manner materially adverse to any party. Upon
      such
      determination that any such term or other provision is invalid, illegal or
      incapable of being enforced, the parties hereto shall negotiate in good faith
      to
      modify this Agreement so as to effect the original intent of the parties as
      closely as possible in an acceptable manner to the end that the transactions
      contemplated hereby are fulfilled to the extent possible.

     

    
      
        
        

      

      
        
           

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    11.7 Binding
      Effect.
      All the
      terms and provisions of this Agreement whether so expressed or not, shall be
      binding upon, inure to the benefit of, and be enforceable by the parties and
      their respective administrators, executors, legal representatives, heirs,
      successors and assignees. 

     

    11.8 Preparation
      of Agreement.
      This
      Agreement shall not be construed more strongly against any party regardless
      of
      who is responsible for its preparation. The parties acknowledge each contributed
      and is equally responsible for its preparation.

     

    11.9 Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of New York, without giving effect to applicable principles of
      conflicts of law.

     

    11.10
      Jurisdiction.
      This
      Agreement shall be exclusively governed by and construed in accordance with
      the
      laws of the State of New York. If any action is brought among the parties with
      respect to this Agreement or otherwise, by way of a claim or counterclaim,
      the
      parties agree that in any such action, and on all issues, the parties
      irrevocably waive their right to a trial by jury. Exclusive jurisdiction and
      venue for any such action shall be the Federal Courts serving the State of
      New
      York. In the event suit or action is brought by any party under this Agreement
      to enforce any of its terms, or in any appeal therefrom, it is agreed that
      the
      prevailing party shall be entitled to reasonable attorneys fees to be fixed
      by
      the arbitrator, trial court, and/or appellate court.

     

    11.11
      Preparation
      and Filing of Securities and Exchange Commission
      filings.
      The
      Investor shall reasonably assist and cooperate with the Company in the
      preparation of all filings with the SEC after the Closing Date due after the
      Closing Date. 

     

    11.12 Further
      Assurances, Cooperation.
      Each
      party shall, upon reasonable request by the other party, execute and deliver
      any
      additional documents necessary or desirable to complete the transactions herein
      pursuant to and in the manner contemplated by this Agreement. The parties hereto
      agree to cooperate and use their respective best efforts to consummate the
      transactions contemplated by this Agreement.

     

    11.13 Survival.
      The
      representations, warranties, covenants and agreements made herein shall survive
      the Closing of the transaction contemplated hereby. 

     

    
      
        
        

      

      
        
           

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    11.14 Third
      Parties.
      Except
      as disclosed in this Agreement, nothing in this Agreement, whether express
      or
      implied, is intended to confer any rights or remedies under or by reason of
      this
      Agreement on any persons other than the parties hereto and their respective
      administrators, executors, legal representatives, heirs, successors and
      assignees. Nothing in this Agreement is intended to relieve or discharge the
      obligation or liability of any third persons to any party to this Agreement,
      nor
      shall any provision give any third persons any right of subrogation or action
      over or against any party to this Agreement.

     

    11.15 Failure
      or Indulgence Not Waiver; Remedies Cumulative.
      No
      failure or delay on the part of any party hereto in the exercise of any right
      hereunder shall impair such right or be construed to be a waiver of, or
      acquiescence in, any breach of any representation, warranty, covenant or
      agreement herein, nor shall nay single or partial exercise of any such right
      preclude other or further exercise thereof or of any other right. All rights
      and
      remedies existing under this Agreement are cumulative to, and not exclusive
      of,
      any rights or remedies otherwise available.

     

    11.16 Counterparts.
      This
      Agreement may be executed in one or more counterparts, and by the different
      parties hereto in separate counterparts, each of which when executed shall
      be
      deemed to be an original, but all of which taken together shall constitute
      one
      and the same agreement. A facsimile transmission of this signed Agreement shall
      be legal and binding on all parties hereto. 

     

    

 

    

    [SIGNATURES
      ON FOLLOWING PAGE]

     

     

     

     

     

    

    
      
        
        

      

      
        
           

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    IN
      WITNESS WHEREOF,
      the
      Investors and the Company have as of the date first written above executed
      this
      Agreement.

    

    THE
      COMPANY:

     

    

    WIRELESS
      AGE COMMUNICATIONS, INC.

    

    

    ______________________
        

    

    By:
      ___________________ 

    Title:__________________
      

    

    

    INVESTOR:

    

    BARRON
      PARTNERS LP

    By:
      Barron Capital Advisors, LLC, its General Partners

    

    ________________________________

    Andrew
      Barron Worden

    President

    730
      Fifth
      Avenue, 25th Floor

    New
      York
      NY 10019

    

    
 

    
      
        
        

      

      
        
           

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    Schedule
      A

    

    
 

    
      	
              NAME
                AND ADDRESS

            	
            	
               

              AMOUNT
                OF 

              INVESTMENT

            	
            	
              NUMBER
                OF SHARES 

              OF
                COMMON STOCK 

              INTO
                WHICH PREFERRED 

              STOCK
                IS CONVERTIBLE

            	
            	
              NUMBER
                OF SHARES 

              UNDERLYING
                

              WARRANTS

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	
              Barron
                Partners LP

              730
                Fifth Avenue, 9th
                Floor

              New
                York, New York 10019

              Attn:
                Andrew Barron Worden

            	 	
               

               

               

              $1,000,000.00

            	 	
               

               

               

              7,142,900

            	 	
               

               

              A:
                7,500,000

              B:
                7,500,000

            
	 	 	 	 	 	 	
              Total:
                15,000,000

            

    

     

     

     

     

    
 

    
      
        
        

      

      
        
           

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    Schedule
      4.8 - List of Brokers

     

    

    Max
      Communications - Richard Molinsky $50,000 of common restricted stock at $0.14
      per share with piggyback registration rights

    

    Josephberg
      Gross - Richard Josephberg $10,000 cash fee

    

    Dunwoody
      - David Jenkins 14,286 warrants with exercise price of $0.14 per share with
      piggyback registration rights, plus $8,000 cash fee

    

    

    

    

    
      
        
        

      

      
        
           

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    Exhibit
      A

    

    Form
      of Certificate of Deisgnation of Preferences, Rights and
      Limitations

    
 

     

     

    
      
        
        

      

      
        
           

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          PAGE
            29 OF 29REGISTRATION
      RIGHTS AGREEMENT

    

    THIS
      REGISTRATION RIGHTS AGREEMENT (the "Agreement")
      is
      made and entered into as of 3rd day of August, 2006 by and among
      Wireless Age Communications, Inc., a
      corporation organized and existing under the laws of the State of Delaware
      (“Wireless
      Age”
or
      the
“Company”),
      and
      Barron Partners L.P., a Delaware limited partnership (hereinafter referred
      to as
      the “Investor”).
      Unless defined otherwise, capitalized terms herein shall have the identical
      meaning as in the Preferred Stock Purchase Agreement.

     

    PRELIMINARY
      STATEMENT

    

    WHEREAS,
      pursuant to the Preferred Stock Purchase Agreement, of even date herewith,
      by
      and among the Company and the Investor, as part of the consideration, Investor
      shall receive Preferred Stock and Warrants, which upon conversion and exercise,
      in accordance with the terms of the Preferred Stock Purchase Agreement and
      Warrant Agreement, entitle the Investor to receive Shares of the Company;
      and

    

    WHEREAS,
      the
      ability of the Investors to sell their Shares of Common Stock is subject to
      certain restrictions under the 1933 Act; and

    

    WHEREAS,
      as a
      condition to the Preferred Stock Purchase Agreement, The Company has agreed
      to
      provide the Investor with a mechanism that will permit such Investor, to sell
      its Shares of Common Stock in the future.

    

      NOW,
      THEREFORE,
      in
      consideration of the premises and of the mutual covenants and agreements, and
      subject to the terms and conditions herein contained, the parties hereto hereby
      agree as follows:

     

    ARTICLE
      I

     

    INCORPORATION
      BY REFERENCE, SUPERSEDER

     

    1.1  Incorporation
      by Reference.
      The
      foregoing recitals and the Exhibits attached hereto and referred to herein,
      are
      hereby acknowledged to be true and accurate, and are incorporated herein by
      this
      reference.

     

    1.2  Supersede.
      This
      Agreement, to the extent that it is inconsistent with any other instrument
      or
      understanding among the parties governing the affairs of the Company, shall
      supersede such instrument or understanding to the fullest extent permitted
      by
      law. A copy of this Agreement shall be filed at the Company’s principal
      office.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ARTICLE
      II

     

    DEMAND
      REGISTRATION RIGHTS

    

    2.1  Registrable
      Securities.
      Means
      and includes the Shares of the Company underlying the Preferred Stock and
      Warrants issued pursuant to the Preferred Stock Purchase Agreement and Warrant
      Agreement. As to any particular Registrable Securities, such securities will
      cease to be Registrable Securities when (a) they have been effectively
      registered under the 1933 Act and disposed of in accordance with the
      registration statement covering them, (b) they are or may be freely traded
      without registration pursuant to Rule 144 under the 1933 Act (or any similar
      provisions that are then in effect), or (c) they have been otherwise transferred
      and new certificates for them not bearing a restrictive legend have been issued
      by the Company and the Company shall not have "stop transfer" instructions
      against them. "Shares"
      shall
      mean, collectively, the shares of Common Stock of the Company issuable upon
      conversion of the Preferred Stock and those shares of Common Stock of the
      Company issuable to the Investor upon exercise of the Warrants.

     

    2.2  Registration
      of Registrable Securities.
      The
      Company shall prepare and file within thirty (30) days following the date hereof
      (the "Filing
      Date")
      a
      registration statement (the "Registration
      Statement")
      covering the resale of such number of shares of the Registrable Securities
      as
      the Investor shall elect by written notice to the Company, and absent such
      election, covering the resale of all of the shares of the Registrable
      Securities. The Company shall use its best efforts to cause the Registration
      Statement to be declared effective by the SEC on the earlier of (i) 150 days
      following the Closing Date with respect to the Registration Statement, (ii)
      ten
      (10) days following the receipt of a "No Review" or similar letter from the
      SEC
      or (iii) the first business day following the day the SEC determines the
      Registration Statement eligible to be declared effective (the "Required
      Effectiveness Date").
      Nothing contained herein shall be deemed to limit the number of Registrable
      Securities to be registered by the Company hereunder. As a result, should the
      Registration Statement not relate to the maximum number of Registrable
      Securities acquired by (or potentially acquirable by) the holders of the Shares
      of the Company issued to the Investor pursuant to the Preferred Stock Purchase
      Agreement, the Company shall be required to promptly file a separate
      registration statement (utilizing Rule 462 promulgated under the 1933 Act,
      where
      applicable) relating to such Registrable Securities which then remain
      unregistered. The provisions of this Agreement shall relate to any such separate
      registration statement as if it were an amendment to the Registration
      Statement.

     

    2.3  Demand
      Registration.
      Subject
      to the limitations of Section 2.2, at any time and from time to time, the
      Investor may request the registration under the 1933 Act of all or part of
      the
      Registrable Shares then outstanding (a "Demand
      Registration").
      Subject to the conditions of Section 3, the Company shall use its best efforts
      to file such registration statement under the 1933 Act as promptly as
      practicable after the date any such request is received by the Company and
      to
      cause such registration statement to be declared effective. The Company shall
      notify the Investor promptly when any such registration statement has been
      declared effective. If more than eighty percent (80%) of the Shares issuable
      under the Preferred Stock Purchase Agreement have been registered or sold,
      this
      provision shall expire.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2.4  Registration
      Statement Form.
      Registrations under Section 2.2 and Section 2.3 shall be on the appropriate
      registration form of the SEC as shall permit the disposition of such Registrable
      Securities in accordance with the intended method or methods of disposition
      specified in the Registration Statement; provided, however, such intended method
      of disposition shall not include an underwritten offering of the Registrable
      Securities.

     

    2.5  Expenses.
      The
      Company will pay all Registration expenses in connection with any registration
      required by under Sections 2.2 and Section 2.3 herein.

     

    2.6  Effective
      Registration Statement.
      A
      registration requested pursuant to Sections 2.2 and Section 2.3 shall not be
      deemed to have been effected (i) unless a registration statement with respect
      thereto has become effective within the time period specified herein, provided
      that a registration which does not become effective after the Company filed
      a
      registration statement with respect thereto solely by reason of the refusal
      to
      proceed of any holder of Registrable Securities (other than a refusal to proceed
      based upon the advice of counsel in the form of a letter signed by such counsel
      and provided to the Company relating to a disclosure matter unrelated to such
      holder) shall be deemed to have been effected by the Company unless the holders
      of the Registrable Securities shall have elected to pay all Registration
      Expenses in connection with such registration, (ii) if, after it has become
      effective, such registration becomes subject to any stop order, injunction
      or
      other order or extraordinary requirement of the SEC or other governmental agency
      or court for any reason or (iii) if, after it has become effective, such
      registration ceases to be effective for more than the allowable Black-Out
      Periods (as defined herein).

     

    2.7  Plan
      Of Distribution.
      The
      Company hereby agrees that the Registration Statement shall include a plan
      of
      distribution section reasonably acceptable to the Investor; provided, however,
      such plan of distribution section shall be modified by the Company so as to
      not
      provide for the disposition of the Registrable Securities on the basis of an
      underwritten offering.

     

    2.8  Liquidated
      Damages.
      If,
      after 150 days from the date hereof, in the event the Company does not register
      Registrable Securities pursuant to the requirements of Section 2.2 herein,
      or if
      the Registration Statement filed pursuant to Section 2.2 herein is not declared
      effective, or if the Registrable Securities are registered pursuant to an
      effective Registration Statement and such Registration Statement or other
      Registration Statement(s) demanded by Investor including the Registrable
      Securities is not effective in the period from five months from the date hereof
      through two years following the date hereof, the Company shall, for each such
      day issue to the Investor, as liquidated damages and not as a penalty, Six
      Thousand, Five Hundred and Seventy (6,570) shares of Preferred Stock for any
      such day, such issuance shall be made no later than the tenth business day
      of
      the calendar month next succeeding the month in which such day occurs. In
      addition, if the Company has not filed a registration statement within the
      thirty day period after closing as specified in Section 2.2, the Company shall,
      for each such day after thirty days from closing and until the filing of a
      registration statement, issue to the Purchaser, as liquidated damages and not
      as
      a penalty, Six Thousand, Five Hundred and Seventy (6,570) shares of Preferred
      Stock and for any such day, such payment shall be made no later than the tenth
      business day of the calendar month next succeeding the month in which such
      day
      occurs. However, in no event shall the Company be required to pay any liquidated
      damages under this Section 2.8 in an amount exceeding Three Million, Three
      Hundred Thirty-Three Thousand, Three Hundred and Thirty Three (3,333,333) of
      the
      shares underlying the Preferred Stock in the aggregate (as adjusted pursuant
      to
      the terms of the Certificate of Designation).

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
      parties agree that the only damages payable for a violation of the terms of
      this
      Agreement with respect to which liquidated damages are expressly provided shall
      be such liquidated damages. Nothing shall preclude the Investor from pursuing
      or
      obtaining specific performance or other equitable relief with respect to this
      Agreement.

     

    The
      parties hereto agree that the liquidated damages provided for in this Section
      2.8 constitute a reasonable estimate of the damages that may be incurred by
      the
      Investor by reason of the failure of the Registration Statement(s) to be filed
      or declared effective in accordance with the provisions hereof.

     

    The
      obligation of the Company terminates when the holder of shares of Registrable
      Securities no longer holds more than five percent (5%) of its shares of
      Registrable Securities.

     

     

    ARTICLE
      III

     

    INCIDENTAL
      REGISTRATION RIGHTS

     

    3.1  Right
      To Include (“Piggy-Back”) Registrable Securities.
      Provided that the Registrable Securities have not been registered, if at any
      time after the date hereof but before the second anniversary of the date hereof,
      the Company proposes to register any of its securities under the 1933 Act (other
      than by a registration in connection with an acquisition in a manner which
      would
      not permit registration of Registrable Securities for sale to the public, on
      Form S-8, or any successor form thereto, on Form S-4, or any successor form
      thereto and other than pursuant to Section 2), on an underwritten basis (either
      best-efforts or firm-commitment), then, the Company will each such time give
      prompt written notice to all holders of Registrable Securities of its intention
      to do so and of such holders of Registrable Securities' rights under this
      Section 3.1. Upon the written request of any such holders of Registrable
      Securities made within ten (10) days after the receipt of any such notice (which
      request shall specify the Registrable Securities intended to be disposed of
      by
      such holders of Registrable Securities and the intended method of disposition
      thereof), the Company will, subject to the terms of this Agreement, use its
      commercially reasonable best efforts to effect the registration under the 1933
      Act of the Registrable Securities, to the extent requisite to permit the
      disposition (in accordance with the intended methods thereof as aforesaid)
      of
      such Registrable Securities so to be registered, by inclusion of such
      Registrable Securities in the registration statement which covers the securities
      which the Company proposes to register, provided that if, at any time after
      written notice of its intention to register any securities and prior to the
      effective date of the registration statement filed in connection with such
      registration, the Company shall determine for any reason either not to register
      or to delay registration of such securities, the Company may, at its election,
      give written notice of such determination to each holders of Registrable
      Securities and, thereupon, (i) in the case of a determination not to register,
      shall be relieved of this obligation to register any Registrable Securities
      in
      connection with such registration (but not from its obligation to pay the
      Registration Expenses in connection therewith), without prejudice, however,
      to
      the rights of any holder or holders of Registrable Securities entitled to do
      so
      to request that such registration be effected as a registration under Section
      2,
      and (ii) in the case of a determination to delay registering, shall be permitted
      to delay registering any Registrable Securities, for the same period as the
      delay in registering such other securities. No registration effected under
      this
      Section 3.1 shall relieve the Company of its obligation to effect any
      registration upon request under Section 2. The Company will pay all Registration
      Expenses in connection with each registration of Registrable Securities
      requested pursuant to this Section 3.1. The right provided the Holders of the
      Registrable Securities pursuant to this Section shall be exercisable at their
      sole discretion and will in no way limit any of the Company's obligations to
      pay
      the Securities according to their terms.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.2  Priority
      In Incidental Registrations.
      If the
      managing underwriter of the underwritten offering contemplated by this Section
      3
      shall inform the Company and holders of the Registrable Securities requesting
      such registration by letter of its belief that the number of securities
      requested to be included in such registration exceeds the number which can
      be
      sold in such offering, then the Company will include in such registration,
      to
      the extent of the number which the Company is so advised can be sold in such
      offering, (i) first securities proposed by the Company to be sold for its own
      account, and (ii) second Registrable Securities and (iii) securities of other
      selling security holders requested to be included in such
      registration.

     

    ARTICLE
      IV

     

    REGISTRATION
      PROCEDURES

     

    4.1  Registration
      Procedures.
      If and
      whenever the Company is required to effect the registration of any Registrable
      Securities under the 1933 Act as provided in Section 2.2 and, as applicable,
      2.3, the Company shall, as expeditiously as possible:

     

    (i)  prepare
      and file with the SEC the Registration Statement, or amendments thereto, to
      effect such registration (including such audited financial statements as may
      be
      required by the 1933 Act or the rules and regulations promulgated thereunder)
      and thereafter use its commercially reasonable best efforts to cause such
      registration statement to be declared effective by the SEC, as soon as
      practicable, but in any event no later than the Required Effectiveness Date
      (with respect to a registration pursuant to Section 2.2); provided, however,
      that before filing such registration statement or any amendments thereto, the
      Company will furnish to the counsel selected by the holders of Registrable
      Securities which are to be included in such registration, copies of all such
      documents proposed to be filed;

     

    (ii)  with
      respect to any registration statement pursuant to Section 2.2 or Section 2.3,
      prepare and file with the SEC such 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 to comply with
      the
      provisions of the 1933 Act with respect to the disposition of all Registrable
      Securities covered by such registration statement until the earlier to occur
      of
      thirty six (36) months after the date of this Agreement (subject to the right
      of
      the Company to suspend the effectiveness thereof for not more than 10
      consecutive Trading Days or an aggregate of 10 Trading Days during each year
      (each a "Black-Out
      Period"))
      or
      such time as all of the securities which are the subject of such registration
      statement cease to be Registrable Securities (such period, in each case, the
      "Registration
      Maintenance Period").
      The
      Company must notify the Investor within twenty four (24) hours prior to any
      Black-Out Period;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (iii)  furnish
      to each holder of Registrable Securities covered by such registration statement
      such number of conformed copies of such registration statement and of each
      such
      amendment and supplement thereto (in each case including all exhibits), such
      number of copies of the prospectus contained in such registration statement
      (including each preliminary prospectus and any summary prospectus) and any
      other
      prospectus filed under Rule 424 under the 1933 Act, in conformity with the
      requirements of the 1933 Act, and such other documents, as such holder of
      Registrable Securities and underwriter, if any, may reasonably request in order
      to facilitate the public sale or other disposition of the Registrable Securities
      owned by such holder of Registrable Securities; 

     

    (iv)  use
      its
      commercially reasonable best efforts to register or qualify all Registrable
      Securities and other securities covered by such registration statement under
      such other U.S. federal or state securities laws or U.S. state blue sky laws
      as
      any U.S. holder of Registrable Securities thereof shall reasonably request,
      to
      keep such registrations or qualifications in effect for so long as such
      registration statement remains in effect, and take any other action which may
      be
      reasonably necessary to enable such holder of Registrable Securities to
      consummate the disposition in such jurisdictions of the securities owned by
      such
      holder of Registrable Securities, except that the Company shall not for any
      such
      purpose be required to qualify generally to do business as a foreign corporation
      in any jurisdiction wherein it would not but for the requirements of this
      subdivision (iv) be obligated to be so qualified or to consent to general
      service of process in any such jurisdiction;

     

    (v)  use
      its
      commercially reasonable best efforts to cause all Registrable Securities covered
      by such registration statement to be registered with or approved by such other
      governmental agencies or authorities as may be necessary to enable the U.S.
      holder of Registrable Securities thereof to consummate the disposition of such
      Registrable Securities;

     

    (vi)  furnish
      to each holder of Registrable Securities a signed counterpart, addressed to
      such
      holder of Registrable Securities, and the underwriters, if any, of an opinion
      of
      counsel for the Company, dated the effective date of such registration statement
      (or, if such registration includes an underwritten public offering, an opinion
      dated the date of the closing under the underwriting agreement), reasonably
      satisfactory in form and substance to such holder of Registrable Securities)
      including that the prospectus and any prospectus supplement forming a part
      of
      the Registration Statement does not contain an untrue statement of a material
      fact or omits a material fact required to be stated therein or necessary in
      order to make the statements therein, in light of the circumstances under which
      they were made, not misleading, and

     

    (vii)  notify
      the Investor and its counsel promptly and confirm such advice in writing
      promptly after the Company has knowledge thereof:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (a)  when
      the
      Registration Statement, the prospectus or any prospectus supplement related
      thereto or post-effective amendment to the Registration Statement has been
      filed, and, with respect to the Registration Statement or any post-effective
      amendment thereto, when the same has become effective;

     

    (b)  of
      any
      request by the SEC for amendments or supplements to the Registration Statement
      or the prospectus or for additional information;

     

    (c)  of
      the
      issuance by the SEC of any stop order suspending the effectiveness of the
      Registration Statement or the initiation of any proceedings by any Person for
      that purpose; and

     

    (d)  of
      the
      receipt by the Company of any notification with respect to the suspension of
      the
      qualification of any Registrable Securities for sale under the securities or
      blue sky laws of any jurisdiction or the initiation or threat of any proceeding
      for such purpose;

     

    (viii)  notify
      each holder of Registrable Securities covered by such registration statement,
      at
      any time when a prospectus relating thereto is required to be delivered under
      the 1933 Act, upon discovery that, or upon the happening of any event as a
      result of which, the prospectus included in such registration statement, as
      then
      in effect, includes an untrue statement of a material fact or omits to state
      any
      material facts required to be stated therein or necessary to make the statements
      therein not misleading in the light of the circumstances then existing, and
      at
      the request of any such holder of Registrable Securities promptly prepare and
      furnish to such holder of Registrable Securities a reasonable number of copies
      of a supplement to or an amendment of such prospectus as may be necessary so
      that, as thereafter delivered to the purchasers of such securities, such
      prospectus shall not include an untrue statement of a material fact or omit
      to
      state a material fact required to be stated therein or necessary to make the
      statements therein not misleading in the light of the circumstances then
      existing; use its best efforts to obtain the withdrawal of any order suspending
      the effectiveness of the Registration Statement at the earliest possible
      moment;

     

    (ix)  otherwise
      use its commercially reasonable best efforts to comply with all applicable
      rules
      and regulations of the SEC, and make available to its security holders, as
      soon
      as reasonably practicable, an earnings statement covering the period of at
      least
      twelve months, but not more than eighteen months, beginning with the first
      full
      calendar month after the effective date of such registration statement, which
      earnings statement shall satisfy the provisions of Section 11(a) of the 1933
      Act
      and Rule 158 thereunder;

     

    (x)  enter
      into such agreements and take such other actions as the Investors shall
      reasonably request in writing (at the expense of the requesting or benefiting
      Investors) in order to expedite or facilitate the disposition of such
      Registrable Securities; and

     

    (xi)  use
      its
      commercially reasonable best efforts to list all Registrable Securities covered
      by such registration statement on any securities exchange on which any of the
      Registrable Securities are then listed.

     

       The
      Company may require each holder of Registrable Securities as to which any
      registration is being effected to furnish the Company such information regarding
      such holder of Registrable Securities and the distribution of such securities
      as
      the Company may from time to time reasonably request in writing.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    4.2  The
      Company will not file any registration statement pursuant to Section 2.2 or
      Section 2.3, or amendment thereto or any prospectus or any supplement thereto
      to
      which the Investors shall reasonably object, provided that the Company may
      file
      such documents in a form required by law or upon the advice of its
      counsel.

     

    4.3  The
      Company represents and warrants to each holder of Registrable Securities that
      it
      has obtained all necessary waivers, consents and authorizations necessary to
      execute this Agreement and consummate the transactions contemplated hereby
      other
      than such waivers, consents and/or authorizations specifically contemplated
      by
      the Preferred Stock Purchase Agreement.

     

    4.4  Each
      holder of Registrable Securities agrees that, upon receipt of any notice from
      the Company of the occurrence of any event of the kind described in subdivision
      (viii) of Section 4.1, such Holder will forthwith discontinue such holder of
      Registrable Securities’ disposition of Registrable Securities pursuant to the
      Registration Statement relating to such Registrable Securities until such holder
      of Registrable Securities’ receipt of the copies of the supplemented or amended
      prospectus contemplated by subdivision (viii) of Section 4.1 and, if so directed
      by the Company, will deliver to the Company (at the Company's expense) all
      copies, other than permanent file copies, then in such Holder's possession
      of
      the prospectus relating to such Registrable Securities current at the time
      of
      receipt of such notice.

     

     

    ARTICLE
      V

     

    UNDERWRITTEN
      OFFERINGS 

    

    5.1  Incidental
      Underwritten Offerings.
      If the
      Company at any time proposes to register any of its securities under the 1933
      Act as contemplated by Section 3.1 and such securities are to be distributed by
      or through one or more underwriters, the Company will, if requested by any
      holder of Registrable Securities as provided in Section 3.1 and subject to
      the
      provisions of Section 3.2, use its commercially reasonable best efforts to
      arrange for such underwriters to include all the Registrable Securities to
      be
      offered and sold by such holder among the securities to be distributed by such
      underwriters. In no event shall any Investor be deemed an underwriter for
      purposes of this Agreement.

     

    5.2  Participation
      In Underwritten Offerings.
      No
      holder of Registrable Securities may participate in any underwritten offering
      under Section 3.1 unless such holder of Registrable Securities (i) agrees to
      sell such Person's securities on the basis provided in any underwriting
      arrangements approved, subject to the terms and conditions hereof, by the
      holders of a majority of Registrable Securities to be included in such
      underwritten offering and (ii) completes and executes all questionnaires,
      indemnities, underwriting agreements and other documents (other than powers
      of
      attorney) required under the terms of such underwriting arrangements.
      Notwithstanding the foregoing, no underwriting agreement (or other agreement
      in
      connection with such offering) shall require any holder of Registrable
      Securities to make a representation or warranty to or agreements with the
      Company or the underwriters other than representations and warranties contained
      in a writing furnished by such holder of Registrable Securities expressly for
      use in the related registration statement or representations, warranties or
      agreements regarding such holder of Registrable Securities, such holder's
      Registrable Securities and such holder's intended method of distribution and
      any
      other representation required by law.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5.3  Preparation;
      Reasonable Investigation.
      In
      connection with the preparation and filing of each registration statement under
      the 1933 Act pursuant to this Agreement, the Company will give the holders
      of
      Registrable Securities registered under such registration statement, and their
      respective counsel and accountants, the opportunity to participate in the
      preparation of such registration statement, each prospectus included therein
      or
      filed with the SEC, and each amendment thereof or supplement thereto, and will
      give each of them such access to its books and records and such opportunities
      to
      discuss the business of the Company with its officers and the independent public
      accountants who have certified its financial statements as shall be necessary,
      in the reasonable opinion of such holders' and such underwriters' respective
      counsel, to conduct a reasonable investigation within the meaning of the 1933
      Act.

     

    ARTICLE
      VI

    

    INDEMNIFICATION
      

     

    6.1  Indemnification
      by the Company.
      In the
      event of any registration of any securities of the Company under the 1933 Act,
      the Company will, and hereby does agree to indemnify and hold harmless the
      holder of any Registrable Securities covered by such registration statement,
      its
      directors and officers, each other Person who participates as an underwriter
      in
      the offering or sale of such securities and each other Person, if any, who
      controls such holder or any such underwriter within the meaning of the 1933
      Act
      against any losses, claims, damages or liabilities, joint or several, to which
      such holder or any such director or officer or underwriter or controlling person
      may become subject under the 1933 Act or otherwise, insofar as such losses,
      claims, damages or liabilities (or actions or proceedings, whether commenced
      or
      threatened, in respect thereof) arise out of or are based upon any untrue
      statement or alleged untrue statement of any material fact contained in any
      registration statement under which such securities were registered under the
      1933 Act, any preliminary prospectus, final prospectus or summary prospectus
      contained therein, or any amendment or supplement thereto, or any omission
      or
      alleged omission to state therein a material fact required to be stated therein
      or necessary to make the statements therein not misleading, and the Company
      will
      reimburse such holder and each such director, officer, underwriter and
      controlling person for any legal or any other expenses reasonably incurred
      by
      them in connection with investigating or defending any such loss, claim,
      liability, action or proceeding, provided that the Company shall not be liable
      in any such case to the extent that any such loss, claim, damage, liability,
      (or
      action or proceeding in respect thereof) or expense arises out of or is based
      upon an untrue statement or alleged untrue statement or omission or alleged
      omission made in such registration statement, any such preliminary prospectus,
      final prospectus, summary prospectus, amendment or supplement in reliance upon
      and in conformity with written information furnished to the Company by such
      holder or underwriter stating that it is for use in the preparation thereof
      and,
      provided further that the Company shall not be liable to any Person who
      participates as an underwriter in the offering or sale of Registrable Securities
      or to any other Person, if any, who controls such underwriter within the meaning
      of the 1933 Act, in any such case to the extent that any such loss, claim,
      damage, liability (or action or proceeding in respect thereof) or expense arises
      out of such Person's failure to send or give a copy of the final prospectus,
      as
      the same may be then supplemented or amended, within the time required by the
      1933 Act to the Person asserting the existence of an untrue statement or alleged
      untrue statement or omission or alleged omission at or prior to the written
      confirmation of the sale of Registrable Securities to such Person if such
      statement or omission was corrected in such final prospectus or an amendment
      or
      supplement thereto. Such indemnity shall remain in full force and effect
      regardless of any investigation made by or on behalf of such holder or any
      such
      director, officer, underwriter or controlling person and shall survive the
      transfer of such securities by such holder.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    6.2  Indemnification
      by the Investor.
      The
      Company may require, as a condition to including any Registrable Securities
      in
      any registration statement filed pursuant to this Agreement, that the Company
      shall have received an undertaking satisfactory to it from the prospective
      holder of such Registrable Securities, to indemnify and hold harmless (in the
      same manner and to the same extent as set forth in Section 6.1) the Company,
      each director of the Company, each officer of the Company and each other Person,
      if any, who controls the Company within the meaning of the 1933 Act, with
      respect to any statement or alleged statement in or omission or alleged omission
      from such registration statement, any preliminary prospectus, final prospectus
      or summary prospectus contained therein, or any amendment or supplement thereto,
      if such statement or alleged statement or omission or alleged omission was
      made
      in reliance upon and in conformity with written information furnished to the
      Company through an instrument duly executed by such holder of Registrable
      Securities specifically stating that it is for use in the preparation of such
      registration statement, preliminary prospectus, final prospectus, summary
      prospectus, amendment or supplement. Any such indemnity shall remain in full
      force and effect, regardless of any investigation made by or on behalf of the
      Company or any such director, officer or controlling person and shall survive
      the transfer of such securities by such Investor. The indemnification by the
      Investors shall be limited to Fifty Thousand ($50,000) Dollars.

     

    6.3  Notices
      Of Claims, Etc.
      Promptly after receipt by an indemnified party of notice of the commencement
      of
      any action or proceeding involving a claim referred to in Sections 6.1 and
      Section 6.2, such indemnified party will, if claim in respect thereof is to
      be
      made against an indemnifying party, give written notice to the latter of the
      commencement of such action, provided that the failure of any indemnified party
      to give notice as provided herein shall not relieve the indemnifying party
      of
      its obligations under Sections 6.1 and Section 6.2, except to the extent that
      the indemnifying party is actually prejudiced by such failure to give notice.
      In
      case any such action is brought against an indemnified party, unless in such
      indemnified party's reasonable judgment a conflict of interest between such
      indemnified and indemnifying parties may exist in respect of such claim, the
      indemnifying party shall be entitled to participate in and to assume the defense
      thereof, jointly with any other indemnifying party similarly notified, to the
      extent that the indemnifying party may wish, with counsel reasonably
      satisfactory to such indemnified party, and after notice from the indemnifying
      party to such indemnified party of its election so to assume the defense
      thereof, the indemnifying party shall not be liable to such indemnified party
      for any legal or other expenses subsequently incurred by the latter in
      connection with the defense thereof other than reasonable costs of
      investigation. No indemnifying party shall, without the consent of the
      indemnified party, consent to entry of any judgment or enter into any settlement
      of any such action which does not include as an unconditional term thereof
      the
      giving by the claimant or plaintiff to such indemnified party of a release
      from
      all liability, or a covenant not to sue, in respect to such claim or litigation.
      No indemnified party shall consent to entry of any judgment or enter into any
      settlement of any such action the defense of which has been assumed by an
      indemnifying party without the consent of such indemnifying party.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    6.4  Other
      Indemnification.
      Indemnification similar to that specified in Sections 6.1 and Section 6.2 (with
      appropriate modifications) shall be given by the Company and each holder of
      Registrable Securities (but only if and to the extent required pursuant to
      the
      terms herein) with respect to any required registration or other qualification
      of securities under any Federal or state law or regulation of any governmental
      authority, other than the 1933 Act.

     

    6.5  Indemnification
      Payments.
      The
      indemnification required by Sections 6.1 and Section 6.2 shall be made by
      periodic payments of the amount thereof during the course of the investigation
      or defense, as and when bills are received or expense, loss, damage or liability
      is incurred.

     

    6.6  Contribution.
      If the
      indemnification provided for in Sections 6.1 and Section 6.2 is unavailable
      to
      an indemnified party in respect of any expense, loss, claim, damage or liability
      referred to therein, then each 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 expense, loss, claim, damage or liability
      (i) in such proportion as is appropriate to reflect the relative benefits
      received by the Company on the one hand and the holder of Registrable Securities
      or underwriter, as the case may be, on the other from the distribution of the
      Registrable Securities or (ii) if the allocation provided by clause (i) above
      is
      not permitted by applicable law, in such proportion as is appropriate to reflect
      not only the relative benefits referred to in clause (i) above but also the
      relative fault of the Company on the one hand and of the holder of Registrable
      Securities or underwriter, as the case may be, on the other in connection with
      the statements or omissions which resulted in such expense, loss, damage or
      liability, as well as any other relevant equitable considerations. The relative
      benefits received by the Company on the one hand and the holder of Registrable
      Securities or underwriter, as the case may be, on the other in connection with
      the distribution of the Registrable Securities shall be deemed to be in the
      same
      proportion as the total net proceeds received by the Company from the initial
      sale of the Registrable Securities by the Company to the purchasers bear to
      the
      gain, if any, realized by all selling holders participating in such offering
      or
      the underwriting discounts and commissions received by the underwriter, as
      the
      case may be. The relative fault of the Company on the one hand and of the holder
      of Registrable Securities or underwriter, as the case may be, on the other
      shall
      be determined by reference to, among other things, whether the untrue or alleged
      untrue statement of a material fact or omission to state a material fact relates
      to information supplied by the Company, by the holder of Registrable Securities
      or by the underwriter and the parties' relative intent, knowledge, access to
      information supplied by the Company, by the holder of Registrable Securities
      or
      by the underwriter and the parties' relative intent, knowledge, access to
      information and opportunity to correct or prevent such statement or omission,
      provided that the foregoing contribution agreement shall not inure to the
      benefit of any indemnified party if indemnification would be unavailable to
      such
      indemnified party by reason of the provisions contained herein, and in no event
      shall the obligation of any indemnifying party to contribute under this Section
      6.6 exceed the amount that such indemnifying party would have been obligated
      to
      pay by way of indemnification if the indemnification provided for hereunder
      had
      been available under the circumstances.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
      Company and the holders of Registrable Securities agree that it would not be
      just and equitable if contribution pursuant to this Section 6.6 were determined
      by pro rata allocation (even if the holders of Registrable Securities and any
      underwriters were treated as one entity for such purpose) or by any other method
      of allocation that does not take account of the equitable considerations
      referred to in the immediately preceding paragraph. The amount paid or payable
      by an indemnified party as a result of the losses, claims, damages and
      liabilities referred to in the immediately preceding paragraph shall be deemed
      to include, subject to the limitations set forth herein, any legal or other
      expenses reasonably incurred by such indemnified party in connection with
      investigating or defending any such action or claim.

     

    Notwithstanding
      the provisions of this Section 6.6, no holder of Registrable Securities or
      underwriter shall be required to contribute any amount in excess of the amount
      by which (i) in the case of any such holder, the net proceeds received by such
      holder from the sale of Registrable Securities in the applicable Registration
      Statement or (ii) in the case of an underwriter, the total price at which the
      Registrable Securities purchased by it and distributed to the public were
      offered to the public exceeds, in any such case, the amount of any damages
      that
      such holder or underwriter has otherwise been required to pay by reason of
      such
      untrue or alleged untrue statement or omission. No Person guilty of fraudulent
      misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall
      be
      entitled to contribution from any person who was not guilty of such fraudulent
      misrepresentation.

     

     

    ARTICLE
      VII

     

    RULE
      144

     

    7.1  Rule
      144.
      The
      Company shall file in a timely manner the reports required to be filed by the
      Company under the 1933 Act and the 1934 Act (including but not limited to the
      reports under Sections 13 and 15(d) of the Exchange Act referred to in
      subparagraph (c) of Rule 144 adopted by the SEC under the 1933 Act) and the
      rules and regulations adopted by the SEC thereunder (or, if the Company is
      not
      required to file such reports, will, upon the request of any holder of
      Registrable Securities, make publicly available other information) and will
      take
      such further action as any holder of Registrable Securities may reasonably
      request, all to the extent required from time to time to enable such holder
      to
      sell Registrable Securities without registration under the 1933 Act within
      the
      limitation of the exemptions provided by (a) Rule 144 under the 1933 Act, as
      such Rule may be amended from time to time, or (b) any similar rule or
      regulation hereafter adopted by the SEC. Upon the request of any holder of
      Registrable Securities, the Company will deliver to such holder a written
      statement as to whether it has complied with the requirements of this Section
      7.1.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    ARTICLE
      VIII

     

    MISCELLANEOUS
      

    

    8.1  Amendments
      And Waivers.
      This
      Agreement may be amended and the Company may take any action herein prohibited,
      or omit to perform any act herein required to be performed by it, only if the
      Company shall have obtained the written consent to such amendment, action or
      omission to act, of the holder or holders of the sum of the fifty-one percent
      (51%) or more of the shares of (i) Registrable Securities issued at such time,
      plus (ii) Registrable Securities issuable upon exercise or conversion of the
      Securities then constituting derivative securities (if such Securities were
      not
      fully exchanged or converted in full as of the date such consent if sought).
      Each holder of any Registrable Securities at the time or thereafter outstanding
      shall be bound by any consent authorized by this Section 8.1, whether or not
      such Registrable Securities shall have been marked to indicate such
      consent.

     

    8.2  Nominees
      For Beneficial Owners.
      In the
      event that any Registrable Securities are held by a nominee for the beneficial
      owner thereof, the beneficial owner thereof may, at its election, be treated
      as
      the holder of such Registrable Securities for purposes of any request or other
      action by any holder or holders of Registrable Securities pursuant to this
      Agreement or any determination of any number of percentage of shares of
      Registrable Securities held by a holder or holders of Registrable Securities
      contemplated by this Agreement. If the beneficial owner of any Registrable
      Securities so elects, the Company may require assurances reasonably satisfactory
      to it of such owner's beneficial ownership or such Registrable
      Securities.

     

    8.3  Notices.
      Except
      as
      otherwise provided in this Agreement, all notices, requests and other
      communications to any Person provided for hereunder shall be in writing and
      shall be given to such Person (a) in the case of a party hereto other than
      the
      Company, addressed to such party in the manner set forth in the Preferred Stock
      Purchase Agreement or at such other address as such party shall have furnished
      to the Company in writing, or (b) in the case of any other holder of Registrable
      Securities, at the address that such holder shall have furnished to the Company
      in writing, or, until any such other holder so furnishes to the Company an
      address, then to and at the address of the last holder of such Registrable
      Securities who has furnished an address to the Company, or (c) in the case
      of
      the Company, at the address set forth on the signature page hereto, to the
      attention of its President, or at such other address, or to the attention of
      such other officer, as the Company shall have furnished to each holder of
      Registrable Securities at the time outstanding. Each such notice, request or
      other communication shall be effective (i) if given by mail, 72 hours after
      such
      communication is deposited in the mail with first class postage prepaid,
      addressed as aforesaid or (ii) if given by any other means (including, without
      limitation, by fax or air courier), when delivered at the address specified
      above, provided that any such notice, request or communication shall not be
      effective until received.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    8.4  Assignment.
      This
      Agreement shall be binding upon and inure to the benefit of and be enforceable
      by the parties hereto. In addition, and whether or not any express assignment
      shall have been made, the provisions of this Agreement which are for the benefit
      of the parties hereto other than the Company shall also be for the benefit
      of
      and enforceable by any subsequent holder of any Registrable Securities. Each
      of
      the Holders of the Registrable Securities agrees, by accepting any portion
      of
      the Registrable Securities after the date hereof, to the provisions of this
      Agreement including, without limitation, appointment of the Investors'
      Representative to act on behalf of such Holder pursuant to the terms hereof
      which such actions shall be made in the good faith discretion of the Investors'
      Representative and be binding on all persons for all purposes.

     

    8.5  Descriptive
      Headings.
      The
      descriptive headings of the several sections and paragraphs of this Agreement
      are inserted for reference only and shall not limit or otherwise affect the
      meaning hereof.

     

    8.6  Governing
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of New York, without giving effect to applicable principles of
      conflicts of law.

     

    8.7  Jurisdiction.
      This
      Agreement shall be exclusively governed by and construed in accordance with
      the
      laws of the State of New York. If any action is brought among the parties with
      respect to this Agreement or otherwise, by way of a claim or counterclaim,
      the
      parties agree that in any such action, and on all issues, the parties
      irrevocably waive their right to a trial by jury. Exclusive jurisdiction and
      venue for any such action shall be the State or Federal Courts serving the
      State
      of New York. In the event suit or action is brought by any party under this
      Agreement to enforce any of its terms, or in any appeal therefrom, it is agreed
      that the prevailing party shall be entitled to reasonable attorneys fees to
      be
      fixed by the arbitrator, trial court, and/or appellate court.

     

    8.8  Entire
      Agreement.
      This
      Agreement embodies the entire agreement and understanding between the Company
      and each other party hereto relating to the subject matter hereof and supercedes
      all prior agreements and understandings relating to such subject
      matter.

     

    8.9  Severability.
      If any
      provision of this Agreement, or the application of such provisions to any Person
      or circumstance, shall be held invalid, the remainder of this Agreement, or
      the
      application of such provision to Persons or circumstances other than those
      to
      which it is held invalid, shall not be affected thereby.

     

    8.10  Binding
      Effect.
      All the
      terms and provisions of this Agreement whether so expressed or not, shall be
      binding upon, inure to the benefit of, and be enforceable by the parties and
      their respective administrators, executors, legal representatives, heirs,
      successors and assignees. 

     

    8.11  Preparation
      of Agreement.
      This
      Agreement shall not be construed more strongly against any party regardless
      of
      who is responsible for its preparation. The parties acknowledge each contributed
      and is equally responsible for its preparation. 

     

    8.12  Failure
      or Indulgence Not Waiver; Remedies Cumulative.
      No
      failure or delay on the part of any party hereto in the exercise of any right
      hereunder shall impair such right or be construed to be a waiver of, or
      acquiescence in, any breach of any representation, warranty, covenant or
      agreement herein, nor shall nay single or partial exercise of any such right
      preclude other or further exercise thereof or of any other right. All rights
      and
      remedies existing under this Agreement are cumulative to, and not exclusive
      of,
      any rights or remedies otherwise available.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    8.13  Counterparts.
      This
      Agreement may be executed in one or more counterparts, and by the different
      parties hereto in separate counterparts, each of which when executed shall
      be
      deemed to be an original, but all of which taken together shall constitute
      one
      and the same agreement. A facsimile transmission of this signed Agreement shall
      be legal and binding on all parties hereto. 

    

    

    

    

    [SIGNATURES
      ON FOLLOWING PAGE]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF,
      the
      Investors and the Company have as of the date first written above executed
      this
      Agreement.

    

    WIRELESS
      AGE COMMUNICATIONS, INC.

    

    

    _____________________________

    By:
      ______________________________    

    Title:
      _____________________________     

    

    INVESTOR

     

    

    BARRON
      PARTNERS LP

    By:
      Barron Capital Advisors, LLC, its General Partners

     

    By:
      _____________________________    

    Andrew
      Barron Worden

    President

    730
      Fifth
      Avenue, 25th Floor

    New
      York
      NY 10019

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