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EXHIBIT 10.3 COMMON STOCK PURCHASE WARRANT

                                                                       EXHIBIT C

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS
SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER
LOAN SECURED BY SUCH SECURITIES.

                          COMMON STOCK PURCHASE WARRANT

                To Purchase __________ Shares of Common Stock of

                               ARMOR ELECTRIC INC.

                  THIS COMMON STOCK PURCHASE WARRANT (the "WARRANT") certifies
that, for value received, _____________ (the "HOLDER"), is entitled, upon the
terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the date hereof (the "INITIAL EXERCISE DATE")
and on or prior to the close of business on the seven year anniversary of the
Initial Exercise Date (the "TERMINATION Date") but not thereafter, to subscribe
for and purchase from Armor Electric Inc., a Florida corporation (the
"COMPANY"), up to ______ shares (the "WARRANT SHARES") of Common Stock, par
value $0.001 per share, of the Company (the "COMMON STOCK"). The purchase price
of one share of Common Stock under this Warrant shall be equal to the Exercise
Price, as defined in Section 2(b).

         SECTION 1. DEFINITIONS. Capitalized terms used and not otherwise
defined herein shall have the meanings set forth in that certain Securities
Purchase Agreement (the "PURCHASE AGREEMENT"), dated February 17, 2005, among
the Company and the purchasers signatory thereto.

         SECTION 2. EXERCISE.

                  a) EXERCISE OF WARRANT. Exercise of the purchase rights
         represented by this Warrant may be made, in whole or in part, at any
         time or times on or after the Initial Exercise Date and on or before
         the Termination Date by delivery to the Company of a duly executed
         facsimile copy of the Notice of Exercise Form annexed hereto (or such
         other office or agency of the Company as it may designate by notice in

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         writing to the registered Holder at the address of such Holder
         appearing on the books of the Company); PROVIDED, HOWEVER, within 5
         Trading Days of the date said Notice of Exercise is delivered to the
         Company, the Holder shall have surrendered this Warrant to the Company
         and the Company shall have received payment of the aggregate Exercise
         Price of the shares thereby purchased by wire transfer or cashier's
         check drawn on a United States bank.

                  b) EXERCISE PRICE. The exercise price of the Common Stock
         under this Warrant shall be $0.15, subject to adjustment hereunder (the
         "EXERCISE PRICE").

                  c) CASHLESS EXERCISE. If at any time after one year from the
         date of issuance of this Warrant there is no effective Registration
         Statement registering, or no current prospectus available for, the
         resale of the Warrant Shares by the Holder, then this Warrant may also
         be exercised at such time by means of a "cashless exercise" in which
         the Holder shall be entitled to receive a certificate for the number of
         Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)]
         by (A), where:

                  (A)  =  the VWAP on the Trading Day immediately preceding the
                          date of such election;

                  (B)  =  the Exercise Price of this Warrant, as adjusted; and

                  (X)  =  the number of Warrant Shares issuable upon exercise
                          of this Warrant in accordance with the terms of this
                          Warrant by means of a cash exercise rather than a
                          cashless exercise.

                  Notwithstanding anything herein to the contrary, on the
         Termination Date, this Warrant shall be automatically exercised via
         cashless exercise pursuant to this Section 2(c).

                  d) EXERCISE LIMITATIONS; HOLDER'S RESTRICTIONS. The Holder
         shall not have the right to exercise any portion of this Warrant,
         pursuant to Section 2(c) or otherwise, to the extent that after giving
         effect to such issuance after exercise, the Holder (together with the
         Holder's affiliates), as set forth on the applicable Notice of
         Exercise, would beneficially own in excess of 4.99% of the number of
         shares of the Common Stock outstanding immediately after giving effect
         to such issuance. For purposes of the foregoing sentence, the number of
         shares of Common Stock beneficially owned by the Holder and its
         affiliates shall include the number of shares of Common Stock issuable
         upon exercise of this Warrant with respect to which the determination
         of such sentence is being made, but shall exclude the number of shares
         of Common Stock which would be issuable upon (A) exercise of the
         remaining, nonexercised portion of this Warrant beneficially owned by
         the Holder or any of its affiliates and (B) exercise or conversion of
         the unexercised or nonconverted portion of any other securities of the
         Company (including, without limitation, any other Shares or Warrants)

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         subject to a limitation on conversion or exercise analogous to the
         limitation contained herein beneficially owned by the Holder or any of
         its affiliates. Except as set forth in the preceding sentence, for
         purposes of this Section 2(d), beneficial ownership shall be calculated
         in accordance with Section 13(d) of the Exchange Act, it being
         acknowledged by Holder that the Company is not representing to Holder
         that such calculation is in compliance with Section 13(d) of the
         Exchange Act and Holder is solely responsible for any schedules
         required to be filed in accordance therewith. To the extent that the
         limitation contained in this Section 2(d) applies, the determination of
         whether this Warrant is exercisable (in relation to other securities
         owned by the Holder) and of which a portion of this Warrant is
         exercisable shall be in the sole discretion of such Holder, and the
         submission of a Notice of Exercise shall be deemed to be such Holder's
         determination of whether this Warrant is exercisable (in relation to
         other securities owned by such Holder) and of which portion of this
         Warrant is exercisable, in each case subject to such aggregate
         percentage limitation, and the Company shall have no obligation to
         verify or confirm the accuracy of such determination. For purposes of
         this Section 2(d), in determining the number of outstanding shares of
         Common Stock, the Holder may rely on the number of outstanding shares
         of Common Stock as reflected in (x) the Company's most recent Form
         10-QSB or Form 10-KSB, as the case may be, (y) a more recent public
         announcement by the Company or (z) any other notice by the Company or
         the Company's Transfer Agent setting forth the number of shares of
         Common Stock outstanding. Upon the written or oral request of the
         Holder, the Company shall within two Trading Days confirm orally and in
         writing to the Holder the number of shares of Common Stock then
         outstanding. In any case, the number of outstanding shares of Common
         Stock shall be determined after giving effect to the conversion or
         exercise of securities of the Company, including this Warrant, by the
         Holder or its affiliates since the date as of which such number of
         outstanding shares of Common Stock was reported. The provisions of this
         Section 2(d) may be waived by the Holder upon, at the election of the
         Holder, not less than 61 days' prior notice to the Company, and the
         provisions of this Section 2(d) shall continue to apply until such 61st
         day (or such later date, as determined by the Holder, as may be
         specified in such notice of waiver).

                  e) MECHANICS OF EXERCISE.

                           i. AUTHORIZATION OF WARRANT SHARES. The Company
                  covenants that all Warrant Shares which may be issued upon the
                  exercise of the purchase rights represented by this Warrant
                  will, upon exercise of the purchase rights represented by this
                  Warrant, be duly authorized, validly issued, fully paid and
                  nonassessable and free from all taxes, liens and charges in
                  respect of the issue thereof (other than taxes in respect of
                  any transfer occurring contemporaneously with such issue).

                           ii. DELIVERY OF CERTIFICATES UPON EXERCISE.
                  Certificates for shares purchased hereunder shall be
                  transmitted by the transfer agent of the Company to the Holder
                  by crediting the account of the Holder's prime broker with the
                  Depository Trust Company through its Deposit Withdrawal Agent
                  Commission ("DWAC") system if the Company is a participant in
                  such system, and otherwise by physical delivery to the address
                  specified by the Holder in the Notice of Exercise within 3
                  Trading Days from the delivery to the Company of the Notice of
                  Exercise Form, surrender of this Warrant and payment of the

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                  aggregate Exercise Price as set forth above ("WARRANT SHARE
                  DELIVERY DATE"). This Warrant shall be deemed to have been
                  exercised on the date the Exercise Price is received by the
                  Company. The Warrant Shares shall be deemed to have been
                  issued, and Holder or any other person so designated to be
                  named therein shall be deemed to have become a holder of
                  record of such shares for all purposes, as of the date the
                  Warrant has been exercised by payment to the Company of the
                  Exercise Price and all taxes required to be paid by the
                  Holder, if any, pursuant to Section 2(e)(vii) prior to the
                  issuance of such shares, have been paid.

                           iii. DELIVERY OF NEW WARRANTS UPON EXERCISE. If this
                  Warrant shall have been exercised in part, the Company shall,
                  at the time of delivery of the certificate or certificates
                  representing Warrant Shares, deliver to Holder a new Warrant
                  evidencing the rights of Holder to purchase the unpurchased
                  Warrant Shares called for by this Warrant, which new Warrant
                  shall in all other respects be identical with this Warrant.

                           iv. RESCISSION RIGHTS. If the Company fails to cause
                  its transfer agent to transmit to the Holder a certificate or
                  certificates representing the Warrant Shares pursuant to this
                  Section 2(e)(iv) by the Warrant Share Delivery Date, then the
                  Holder will have the right to rescind such exercise.

                           v. COMPENSATION FOR BUY-IN ON FAILURE TO TIMELY
                  DELIVER CERTIFICATES UPON EXERCISE. In addition to any other
                  rights available to the Holder, if the Company fails to cause
                  its transfer agent to transmit to the Holder a certificate or
                  certificates representing the Warrant Shares pursuant to an
                  exercise on or before the Warrant Share Delivery Date, and if
                  after such date the Holder is required by its broker to
                  purchase (in an open market transaction or otherwise) shares
                  of Common Stock to deliver in satisfaction of a sale by the
                  Holder of the Warrant Shares which the Holder anticipated
                  receiving upon such exercise (a "BUY-IN"), then the Company
                  shall (1) pay in cash to the Holder the amount by which (x)
                  the Holder's total purchase price (including brokerage
                  commissions, if any) for the shares of Common Stock so
                  purchased exceeds (y) the amount obtained by multiplying (A)
                  the number of Warrant Shares that the Company was required to
                  deliver to the Holder in connection with the exercise at issue
                  times (B) the price at which the sell order giving rise to
                  such purchase obligation was executed, and (2) at the option
                  of the Holder, either reinstate the portion of the Warrant and
                  equivalent number of Warrant Shares for which such exercise
                  was not honored or deliver to the Holder the number of shares
                  of Common Stock that would have been issued had the Company
                  timely complied with its exercise and delivery obligations
                  hereunder. For example, if the Holder purchases Common Stock

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                  having a total purchase price of $11,000 to cover a Buy-In
                  with respect to an attempted exercise of shares of Common
                  Stock with an aggregate sale price giving rise to such
                  purchase obligation of $10,000, under clause (1) of the
                  immediately preceding sentence the Company shall be required
                  to pay the Holder $1,000. The Holder shall provide the Company
                  written notice indicating the amounts payable to the Holder in
                  respect of the Buy-In, together with applicable confirmations
                  and other evidence reasonably requested by the Company.
                  Nothing herein shall limit a Holder's right to pursue any
                  other remedies available to it hereunder, at law or in equity
                  including, without limitation, a decree of specific
                  performance and/or injunctive relief with respect to the
                  Company's failure to timely deliver certificates representing
                  shares of Common Stock upon exercise of the Warrant as
                  required pursuant to the terms hereof.

                           vi. NO FRACTIONAL SHARES OR SCRIP. No fractional
                  shares or scrip representing fractional shares shall be issued
                  upon the exercise of this Warrant. As to any fraction of a
                  share which Holder would otherwise be entitled to purchase
                  upon such exercise, the Company shall pay a cash adjustment in
                  respect of such final fraction in an amount equal to such
                  fraction multiplied by the Exercise Price.

                           vii. CHARGES, TAXES AND EXPENSES. Issuance of
                  certificates for Warrant Shares shall be made without charge
                  to the Holder for any issue or transfer tax or other
                  incidental expense in respect of the issuance of such
                  certificate, all of which taxes and expenses shall be paid by
                  the Company, and such certificates shall be issued in the name
                  of the Holder or in such name or names as may be directed by
                  the Holder; PROVIDED, HOWEVER, that in the event certificates
                  for Warrant Shares are to be issued in a name other than the
                  name of the Holder, this Warrant when surrendered for exercise
                  shall be accompanied by the Assignment Form attached hereto
                  duly executed by the Holder; and the Company may require, as a
                  condition thereto, the payment of a sum sufficient to
                  reimburse it for any transfer tax incidental thereto.

                           viii. CLOSING OF BOOKS. The Company will not close
                  its stockholder books or records in any manner which prevents
                  the timely exercise of this Warrant, pursuant to the terms
                  hereof.

         SECTION 3. CERTAIN ADJUSTMENTS.

                  a) STOCK DIVIDENDS AND SPLITS. If the Company, at any time
         while this Warrant is outstanding: (A) pays a stock dividend or
         otherwise make a distribution or distributions on shares of its Common
         Stock or any other equity or equity equivalent securities payable in
         shares of Common Stock (which, for avoidance of doubt, shall not
         include any shares of Common Stock issued by the Company pursuant to
         this Warrant), (B) subdivides outstanding shares of Common Stock into a
         larger number of shares, (C) combines (including by way of reverse
         stock split) outstanding shares of Common Stock into a smaller number

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         of shares, or (D) issues by reclassification of shares of the Common
         Stock any shares of capital stock of the Company, then in each case the
         Exercise Price shall be multiplied by a fraction of which the numerator
         shall be the number of shares of Common Stock (excluding treasury
         shares, if any) outstanding before such event and of which the
         denominator shall be the number of shares of Common Stock outstanding
         after such event and the number of shares issuable upon exercise of
         this Warrant shall be proportionately adjusted. Any adjustment made
         pursuant to this Section 3(a) shall become effective immediately after
         the record date for the determination of stockholders entitled to
         receive such dividend or distribution and shall become effective
         immediately after the effective date in the case of a subdivision,
         combination or re-classification.

                  b) SUBSEQUENT EQUITY SALES. If the Company or any Subsidiary
         thereof, as applicable, at any time while this Warrant is outstanding,
         shall offer, sell, grant any option to purchase or offer, sell or grant
         any right to reprice its securities, or otherwise dispose of or issue
         (or announce any offer, sale, grant or any option to purchase or other
         disposition) any Common Stock or Common Stock Equivalents entitling any
         Person to acquire shares of Common Stock, at an effective price per
         share less than the then Exercise Price (such lower price, the "BASE
         SHARE PRICE" and such issuances collectively, a "DILUTIVE ISSUANCE"),
         as adjusted hereunder (if the holder of the Common Stock or Common
         Stock Equivalents so issued shall at any time, whether by operation of
         purchase price adjustments, reset provisions, floating conversion,
         exercise or exchange prices or otherwise, or due to warrants, options
         or rights per share which is issued in connection with such issuance,
         be entitled to receive shares of Common Stock at an effective price per
         share which is less than the Exercise Price, such issuance shall be
         deemed to have occurred for less than the Exercise Price), then, the
         Exercise Price shall be reduced to equal the Base Share Price and the
         number of Warrant Shares issuable hereunder shall be increased such
         that the aggregate Exercise Price payable hereunder, after taking into
         account the decrease in the Exercise Price, shall be equal to the
         aggregate Exercise Price prior to such adjustment. Such adjustment
         shall be made whenever such Common Stock or Common Stock Equivalents
         are issued. The Company shall notify the Holder in writing, no later
         than the Trading Day following the issuance of any Common Stock or
         Common Stock Equivalents subject to this section, indicating therein
         the applicable issuance price, or of applicable reset price, exchange
         price, conversion price and other pricing terms (such notice the
         "DILUTIVE ISSUANCE NOTICE"). For purposes of clarification, whether or
         not the Company provides a Dilutive Issuance Notice pursuant to this
         Section 3(b), upon the occurrence of any Dilutive Issuance, after the
         date of such Dilutive Issuance the Holder is entitled to receive a
         number of Warrant Shares based upon the Base Share Price regardless of
         whether the Holder accurately refers to the Base Share Price in the
         Notice of Exercise.

                  c) PRO RATA DISTRIBUTIONS. If the Company, at any time prior
         to the Termination Date, shall distribute to all holders of Common
         Stock (and not to Holders of the Warrants) evidences of its
         indebtedness or assets (including cash and cash dividends) or rights or
         warrants to subscribe for or purchase any security other than the
         Common Stock (which shall be subject to Section 3(b)), then in each
         such case the Exercise Price shall be adjusted by multiplying the
         Exercise Price in effect immediately prior to the record date fixed for
         determination of stockholders entitled to receive such distribution by
         a fraction of which the denominator shall be the VWAP determined as of

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         the record date mentioned above, and of which the numerator shall be
         such VWAP on such record date less the then per share fair market value
         at such record date of the portion of such assets or evidence of
         indebtedness so distributed applicable to one outstanding share of the
         Common Stock as determined by the Board of Directors in good faith. In
         either case the adjustments shall be described in a statement provided
         to the Holders of the portion of assets or evidences of indebtedness so
         distributed or such subscription rights applicable to one share of
         Common Stock. Such adjustment shall be made whenever any such
         distribution is made and shall become effective immediately after the
         record date mentioned above.

                  d) FUNDAMENTAL TRANSACTION. If, at any time while this Warrant
         is outstanding, (A) the Company effects any merger or consolidation of
         the Company with or into another Person, (B) the Company effects any
         sale of all or substantially all of its assets in one or a series of
         related transactions, (C) any tender offer or exchange offer (whether
         by the Company or another Person) is completed pursuant to which
         holders of Common Stock are permitted to tender or exchange their
         shares for other securities, cash or property, or (D) the Company
         effects any reclassification of the Common Stock or any compulsory
         share exchange pursuant to which the Common Stock is effectively
         converted into or exchanged for other securities, cash or property (in
         any such case, a "FUNDAMENTAL TRANSACTION"), then, upon any subsequent
         exercise of this Warrant, the Holder shall have the right to receive,
         for each Warrant Share that would have been issuable upon such exercise
         absent such Fundamental Transaction, at the option of the Holder, (a)
         upon exercise of this Warrant, the number of shares of Common Stock of
         the successor or acquiring corporation or of the Company, if it is the
         surviving corporation, and Alternate Consideration receivable upon or
         as a result of such reorganization, reclassification, merger,
         consolidation or disposition of assets by a Holder of the number of
         shares of Common Stock for which this Warrant is exercisable
         immediately prior to such event or (b) if the Company is acquired in an
         all cash transaction, cash equal to the value of this Warrant as
         determined in accordance with the Black-Scholes option pricing formula
         (the "ALTERNATE CONSIDERATION"). For purposes of any such exercise, the
         determination of the Exercise Price shall be appropriately adjusted to
         apply to such Alternate Consideration based on the amount of Alternate
         Consideration issuable in respect of one share of Common Stock in such
         Fundamental Transaction, and the Company shall apportion the Exercise
         Price among the Alternate Consideration in a reasonable manner
         reflecting the relative value of any different components of the
         Alternate Consideration. If holders of Common Stock are given any
         choice as to the securities, cash or property to be received in a
         Fundamental Transaction, then the Holder shall be given the same choice
         as to the Alternate Consideration it receives upon any exercise of this
         Warrant following such Fundamental Transaction. To the extent necessary
         to effectuate the foregoing provisions, any successor to the Company or
         surviving entity in such Fundamental Transaction shall issue to the
         Holder a new warrant consistent with the foregoing provisions and
         evidencing the Holder's right to exercise such warrant into Alternate
         Consideration. The terms of any agreement pursuant to which a
         Fundamental Transaction is effected shall include terms requiring any
         such successor or surviving entity to comply with the provisions of
         this Section 3(d) and insuring that this Warrant (or any such
         replacement security) will be similarly adjusted upon any subsequent
         transaction analogous to a Fundamental Transaction.

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                  e) EXEMPT ISSUANCE. Notwithstanding the foregoing, no
         adjustments, Alternate Consideration nor notices shall be made, paid or
         issued under this Section 3 in respect of an Exempt Issuance.

                  f) CALCULATIONS. All calculations under this Section 3 shall
         be made to the nearest cent or the nearest 1/100th of a share, as the
         case may be. For purposes of this Section 3, the number of shares of
         Common Stock deemed to be issued and outstanding as of a given date
         shall be the sum of the number of shares of Common Stock (excluding
         treasury shares, if any) issued and outstanding.

                  g) VOLUNTARY ADJUSTMENT BY COMPANY. The Company may at any
         time during the term of this Warrant reduce the then current Exercise
         Price to any amount and for any period of time deemed appropriate by
         the Board of Directors of the Company.

                  h) NOTICE TO HOLDERS.

                           i. ADJUSTMENT TO EXERCISE PRICE. Whenever the
                  Exercise Price is adjusted pursuant to this Section 3, the
                  Company shall promptly mail to each Holder a notice setting
                  forth the Exercise Price after such adjustment and setting
                  forth a brief statement of the facts requiring such
                  adjustment. If the Company issues a variable rate security,
                  despite the prohibition thereon in the Purchase Agreement, the
                  Company shall be deemed to have issued Common Stock or Common
                  Stock Equivalents at the lowest possible conversion or
                  exercise price at which such securities may be converted or
                  exercised in the case of a Variable Rate Transaction (as
                  defined in the Purchase Agreement), or the lowest possible
                  adjustment price in the case of an MFN Transaction (as defined
                  in the Purchase Agreement.

                           ii. NOTICE TO ALLOW EXERCISE BY HOLDER. If (A) the
                  Company shall declare a dividend (or any other distribution)
                  on the Common Stock; (B) the Company shall declare a special
                  nonrecurring cash dividend on or a redemption of the Common
                  Stock; (C) the Company shall authorize the granting to all
                  holders of the Common Stock rights or warrants to subscribe
                  for or purchase any shares of capital stock of any class or of
                  any rights; (D) the approval of any stockholders of the
                  Company shall be required in connection with any
                  reclassification of the Common Stock, any consolidation or
                  merger to which the Company is a party, any sale or transfer
                  of all or substantially all of the assets of the Company, of
                  any compulsory share exchange whereby the Common Stock is
                  converted into other securities, cash or property; (E) the
                  Company shall authorize the voluntary or involuntary
                  dissolution, liquidation or winding up of the affairs of the
                  Company; then, in each case, the Company shall cause to be
                  mailed to the Holder at its last addresses as it shall appear
                  upon the Warrant Register of the Company, at least 20 calendar

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                  days prior to the applicable record or effective date
                  hereinafter specified, a notice stating (x) the date on which
                  a record is to be taken for the purpose of such dividend,
                  distribution, redemption, rights or warrants, or if a record
                  is not to be taken, the date as of which the holders of the
                  Common Stock of record to be entitled to such dividend,
                  distributions, redemption, rights or warrants are to be
                  determined or (y) the date on which such reclassification,
                  consolidation, merger, sale, transfer or share exchange is
                  expected to become effective or close, and the date as of
                  which it is expected that holders of the Common Stock of
                  record shall be entitled to exchange their shares of the
                  Common Stock for securities, cash or other property
                  deliverable upon such reclassification, consolidation, merger,
                  sale, transfer or share exchange; PROVIDED, that the failure
                  to mail such notice or any defect therein or in the mailing
                  thereof shall not affect the validity of the corporate action
                  required to be specified in such notice. The Holder is
                  entitled to exercise this Warrant during the 20-day period
                  commencing on the date of such notice to the effective date of
                  the event triggering such notice.

         SECTION 4. TRANSFER OF WARRANT.

                  a) TRANSFERABILITY. Subject to compliance with any applicable
         securities laws and the conditions set forth in Sections 5(a) and 4(d)
         hereof and to the provisions of Section 4.1 of the Purchase Agreement,
         this Warrant and all rights hereunder are transferable, in whole or in
         part, upon surrender of this Warrant at the principal office of the
         Company, together with a written assignment of this Warrant
         substantially in the form attached hereto duly executed by the Holder
         or its agent or attorney and funds sufficient to pay any transfer taxes
         payable upon the making of such transfer. Upon such surrender and, if
         required, such payment, the Company shall execute and deliver a new
         Warrant or Warrants in the name of the assignee or assignees and in the
         denomination or denominations specified in such instrument of
         assignment, and shall issue to the assignor a new Warrant evidencing
         the portion of this Warrant not so assigned, and this Warrant shall
         promptly be cancelled. A Warrant, if properly assigned, may be
         exercised by a new holder for the purchase of Warrant Shares without
         having a new Warrant issued.

                  b) NEW WARRANTS. This Warrant may be divided or combined with
         other Warrants upon presentation hereof at the aforesaid office of the
         Company, together with a written notice specifying the names and
         denominations in which new Warrants are to be issued, signed by the
         Holder or its agent or attorney. Subject to compliance with Section
         4(a), as to any transfer which may be involved in such division or
         combination, the Company shall execute and deliver a new Warrant or
         Warrants in exchange for the Warrant or Warrants to be divided or
         combined in accordance with such notice.

                  c) WARRANT REGISTER. The Company shall register this Warrant,
         upon records to be maintained by the Company for that purpose (the
         "WARRANT REGISTER"), in the name of the record Holder hereof from time
         to time. The Company may deem and treat the registered Holder of this
         Warrant as the absolute owner hereof for the purpose of any exercise
         hereof or any distribution to the Holder, and for all other purposes,
         absent actual notice to the contrary.

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                  d) TRANSFER RESTRICTIONS. If, at the time of the surrender of
         this Warrant in connection with any transfer of this Warrant, the
         transfer of this Warrant shall not be registered pursuant to an
         effective registration statement under the Securities Act and under
         applicable state securities or blue sky laws, the Company may require,
         as a condition of allowing such transfer (i) that the Holder or
         transferee of this Warrant, as the case may be, furnish to the Company
         a written opinion of counsel (which opinion shall be in form, substance
         and scope customary for opinions of counsel in comparable transactions)
         to the effect that such transfer may be made without registration under
         the Securities Act and under applicable state securities or blue sky
         laws, (ii) that the holder or transferee execute and deliver to the
         Company an investment letter in form and substance acceptable to the
         Company and (iii) that the transferee be an "accredited investor" as
         defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8)
         promulgated under the Securities Act or a qualified institutional buyer
         as defined in Rule 144A(a) under the Securities Act.

         SECTION 5. MISCELLANEOUS.

                  a) TITLE TO WARRANT. Prior to the Termination Date and subject
         to compliance with applicable laws and Section 4 of this Warrant, this
         Warrant and all rights hereunder are transferable, in whole or in part,
         at the office or agency of the Company by the Holder in person or by
         duly authorized attorney, upon surrender of this Warrant together with
         the Assignment Form annexed hereto properly endorsed. The transferee
         shall sign an investment letter in form and substance reasonably
         satisfactory to the Company.

                  b) NO RIGHTS AS SHAREHOLDER UNTIL EXERCISE. This Warrant does
         not entitle the Holder to any voting rights or other rights as a
         shareholder of the Company prior to the exercise hereof. Upon the
         surrender of this Warrant and the payment of the aggregate Exercise
         Price (or by means of a cashless exercise), the Warrant Shares so
         purchased shall be and be deemed to be issued to such Holder as the
         record owner of such shares as of the close of business on the later of
         the date of such surrender or payment.

                  c) LOSS, THEFT, DESTRUCTION OR MUTILATION OF WARRANT. The
         Company covenants that upon receipt by the Company of evidence
         reasonably satisfactory to it of the loss, theft, destruction or
         mutilation of this Warrant or any stock certificate relating to the
         Warrant Shares, and in case of loss, theft or destruction, of indemnity
         or security reasonably satisfactory to it (which, in the case of the
         Warrant, shall not include the posting of any bond), and upon surrender
         and cancellation of such Warrant or stock certificate, if mutilated,
         the Company will make and deliver a new Warrant or stock certificate of
         like tenor and dated as of such cancellation, in lieu of such Warrant
         or stock certificate.

                  d) SATURDAYS, SUNDAYS, HOLIDAYS, ETC. If the last or appointed
         day for the taking of any action or the expiration of any right
         required or granted herein shall be a Saturday, Sunday or a legal
         holiday, then such action may be taken or such right may be exercised
         on the next succeeding day not a Saturday, Sunday or legal holiday.

                                      -10-

<PAGE>

                  e) AUTHORIZED SHARES.

                           The Company covenants that during the period the
                  Warrant is outstanding, it will reserve from its authorized
                  and unissued Common Stock a sufficient number of shares to
                  provide for the issuance of the Warrant Shares upon the
                  exercise of any purchase rights under this Warrant. The
                  Company further covenants that its issuance of this Warrant
                  shall constitute full authority to its officers who are
                  charged with the duty of executing stock certificates to
                  execute and issue the necessary certificates for the Warrant
                  Shares upon the exercise of the purchase rights under this
                  Warrant. The Company will take all such reasonable action as
                  may be necessary to assure that such Warrant Shares may be
                  issued as provided herein without violation of any applicable
                  law or regulation, or of any requirements of the Trading
                  Market upon which the Common Stock may be listed.

                           Except and to the extent as waived or consented to by
                  the Holder, the Company shall not by any action, including,
                  without limitation, amending its certificate of incorporation
                  or through any reorganization, transfer of assets,
                  consolidation, merger, dissolution, issue or sale of
                  securities or any other voluntary action, avoid or seek to
                  avoid the observance or performance of any of the terms of
                  this Warrant, but will at all times in good faith assist in
                  the carrying out of all such terms and in the taking of all
                  such actions as may be necessary or appropriate to protect the
                  rights of Holder as set forth in this Warrant against
                  impairment. Without limiting the generality of the foregoing,
                  the Company will (a) not increase the par value of any Warrant
                  Shares above the amount payable therefor upon such exercise
                  immediately prior to such increase in par value, (b) take all
                  such action as may be necessary or appropriate in order that
                  the Company may validly and legally issue fully paid and
                  nonassessable Warrant Shares upon the exercise of this
                  Warrant, and (c) use commercially reasonable efforts to obtain
                  all such authorizations, exemptions or consents from any
                  public regulatory body having jurisdiction thereof as may be
                  necessary to enable the Company to perform its obligations
                  under this Warrant.

                           Before taking any action which would result in an
                  adjustment in the number of Warrant Shares for which this
                  Warrant is exercisable or in the Exercise Price, the Company
                  shall obtain all such authorizations or exemptions thereof, or
                  consents thereto, as may be necessary from any public
                  regulatory body or bodies having jurisdiction thereof.

                  f) JURISDICTION. All questions concerning the construction,
         validity, enforcement and interpretation of this Warrant shall be
         determined in accordance with the provisions of the Purchase Agreement.

                  g) RESTRICTIONS. The Holder acknowledges that the Warrant
         Shares acquired upon the exercise of this Warrant, if not registered,
         will have restrictions upon resale imposed by state and federal
         securities laws.

                                      -11-

<PAGE>

                  h) NONWAIVER AND EXPENSES. No course of dealing or any delay
         or failure to exercise any right hereunder on the part of Holder shall
         operate as a waiver of such right or otherwise prejudice Holder's
         rights, powers or remedies, notwithstanding the fact that all rights
         hereunder terminate on the Termination Date. If the Company willfully
         and knowingly fails to comply with any provision of this Warrant, which
         results in any material damages to the Holder, the Company shall pay to
         Holder such amounts as shall be sufficient to cover any costs and
         expenses including, but not limited to, reasonable attorneys' fees,
         including those of appellate proceedings, incurred by Holder in
         collecting any amounts due pursuant hereto or in otherwise enforcing
         any of its rights, powers or remedies hereunder.

                  i) NOTICES. Any notice, request or other document required or
         permitted to be given or delivered to the Holder by the Company shall
         be delivered in accordance with the notice provisions of the Purchase
         Agreement.

                  j) LIMITATION OF LIABILITY. No provision hereof, in the
         absence of any affirmative action by Holder to exercise this Warrant or
         purchase Warrant Shares, and no enumeration herein of the rights or
         privileges of Holder, shall give rise to any liability of Holder for
         the purchase price of any Common Stock or as a stockholder of the
         Company, whether such liability is asserted by the Company or by
         creditors of the Company.

                  k) REMEDIES. Holder, in addition to being entitled to exercise
         all rights granted by law, including recovery of damages, will be
         entitled to specific performance of its rights under this Warrant. The
         Company agrees that monetary damages would not be adequate compensation
         for any loss incurred by reason of a breach by it of the provisions of
         this Warrant and hereby agrees to waive the defense in any action for
         specific performance that a remedy at law would be adequate.

                  l) SUCCESSORS AND ASSIGNS. Subject to applicable securities
         laws, this Warrant and the rights and obligations evidenced hereby
         shall inure to the benefit of and be binding upon the successors of the
         Company and the successors and permitted assigns of Holder. The
         provisions of this Warrant are intended to be for the benefit of all
         Holders from time to time of this Warrant and shall be enforceable by
         any such Holder or holder of Warrant Shares.

                  m) AMENDMENT. This Warrant may be modified or amended or the
         provisions hereof waived with the written consent of the Company and
         the Holder.

                  n) SEVERABILITY. Wherever possible, each provision of this
         Warrant shall be interpreted in such manner as to be effective and
         valid under applicable law, but if any provision of this Warrant shall
         be prohibited by or invalid under applicable law, such provision shall
         be ineffective to the extent of such prohibition or invalidity, without
         invalidating the remainder of such provisions or the remaining
         provisions of this Warrant.

                  o) HEADINGS. The headings used in this Warrant are for the
         convenience of reference only and shall not, for any purpose, be deemed
         a part of this Warrant.

                              ********************

                                      -12-

<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed by its officer thereunto duly authorized.

Dated:  February __, 2005

ARMOR ELECTRIC INC.

By:__________________________________________
     Name:
     Title:

                                      -13-

<PAGE>

                               NOTICE OF EXERCISE

TO:      ARMOR ELECTRIC INC.

         (1) The undersigned hereby elects to purchase ________ Warrant Shares
of the Company pursuant to the terms of the attached Warrant (only if exercised
in full), and tenders herewith payment of the exercise price in full, together
with all applicable transfer taxes, if any.

         (2) Payment shall take the form of (check applicable box):

                           [  ] in lawful money of the United States; or

                           [ ] the cancellation of such number of Warrant Shares
                           as is necessary, in accordance with the formula set
                           forth in subsection 2(c), to exercise this Warrant
                           with respect to the maximum number of Warrant Shares
                           purchasable pursuant to the cashless exercise
                           procedure set forth in subsection 2(c).

         (3) Please issue a certificate or certificates representing said
Warrant Shares in the name of the undersigned or in such other name as is
specified below:

         _______________________________

The Warrant Shares shall be delivered to the following:

         _______________________________

         _______________________________

         _______________________________

         (4) ACCREDITED INVESTOR. The undersigned is an "accredited investor" as
defined in Regulation D promulgated under the Securities Act of 1933, as
amended.

[SIGNATURE OF HOLDER]

Name of Investing Entity: ______________________________________________________
SIGNATURE OF AUTHORIZED SIGNATORY OF INVESTING ENTITY: _________________________
Name of Authorized Signatory: __________________________________________________
Title of Authorized Signatory: _________________________________________________
Date: __________________________________________________________________________

                                      -14-

<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

         FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
thereby are hereby assigned to

_______________________________________________ whose address is

_______________________________________________________________.

_______________________________________________________________

                                                 Dated:  ______________, _______

                 Holder's Signature:       _____________________________

                 Holder's Address:         _____________________________

                                           _____________________________

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank or trust company. Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

                                      -15-<PAGE>

Ex 10.4 Subscription Agreement and Investor Questionnaire

                             SUBSCRIPTION AGREEMENT

                              ARMOR ELECTRIC, INC.

GENTLEMEN,

         The undersigned is writing to advise you of the following terms and
conditions under which the undersigned hereby offers to subscribe (the "Offer")
for ___________ shares of the common stock of Armor Electric, Inc. (the
"Company"), par value $_____ per share ("Common Stock") upon the terms set forth
herein. The investment will be $__________. All funds received will be deposited
directly in the treasury of the Company.

         1.       SUBSCRIPTION

                  Subject to the terms and conditions set forth in this
subscription agreement, the undersigned hereby offers to purchase ___________
shares of Common Stock for an aggregate purchase price of $___________.

                  If the Offer is accepted, payment for the shares is being made
by the delivery of $__________ by cash, check, or money order payable to the
order of Armor Electric, Inc. contemporaneously herewith.

         2.       CONDITIONS TO OFFER

                  The offering is made subject on the following conditions: (A)
that you shall have the right to accept or reject this Offer, in whole or in
part, for any reason whatsoever; and (B) that the undersigned agrees to comply
with the terms of this subscription agreement and to execute and deliver any and
all further documents necessary to become a stock holder in the Company.

                  Acceptance of this Offer shall be deemed given by the
countersigning of this subscription agreement on behalf of the Company.

         3.       REPRESENTATIONS AND WARRANTIES OF THE UNDERSIGNED

                  The undersigned, to induce the Company to accept this Offer,
hereby warrants and represents as follows:

                  (A) The undersigned has sufficient liquid assets to sustain a
loss of the undersigned's entire investment.

                  (B) The Company has not made any other representations or
warranties to the undersigned with respect to the Company or rendered any
investment advice.

                                      F-1

<PAGE>

                  (C) The undersigned has knowledge and experience in financial,
investment, and business matters and is capable of evaluating the merits and
risks of the prospective investment in the securities of the Company. The
undersigned has consulted with such independent legal counsel or other advisers
as deemed appropriate to assist the undersigned in evaluating the proposed
investment in the Company.

                  (D) The undersigned represents that he or she (i) has adequate
means of providing for current financial needs and possible personal
contingencies and has no need for liquidity of investment in the Company; (ii)
can afford (a) to hold unregistered securities for an indefinite period of time
and (b) to sustain a complete loss of the entire amount of the subscription; and
(iii) has not made an excessive overall commitment to investments that are not
readily marketable.

                  (E) The undersigned understands that the offer and sale of the
Common Stock is made without the use of an offering memorandum and the
undersigned has been afforded the opportunity to ask questions of and receive
answers from the officers and/or directors of the Company acting on its behalf
concerning the terms and conditions of this transaction and to obtain any
additional information, to the extent that the Company possesses such
information or can acquire it without unreasonable effort or expense, necessary
to verify the accuracy of the information furnished. The undersigned has availed
himself or herself of such opportunity to the extent considered appropriate to
permit evaluation of the merits and risks of an investment in the Company. It is
understood that all documents, records, and books pertaining to this investment
have been made available for inspection and that the books and records of the
Company will be available upon reasonable notice for inspection by investors
during reasonable business hours at its principal place of business.

                  (F) The undersigned acknowledges that the shares of Common
Stock have not been registered under the Act in Reliance on an exemption for
transactions by an issuer not involving a public offering and further
understands that the undersigned is purchasing the Common Stock without being
furnished any prospectus setting forth all of the information that may be
required to be furnished under the Act.

                  (G) The shares of Common Stock being subscribed are being
acquired solely for the account of the undersigned for personal investment and
not with a view to, or for resale in connection with, any distribution.

                  (H) The undersigned represents and agrees that the undersigned
will not sell, transfer, pledge, or otherwise dispose of or encumber the shares
except pursuant to the applicable rules and regulations under the Act or
applicable state securities laws; prior to any such sale, transfer, pledge,
disposition, or encumbrance, the undersigned will, upon request, furnish the
Company and its transfer agent with an opinion of counsel satisfactory to the
Company in form and substance that registration under the Act and any applicable
state securities laws is not required.

                                      F-2

<PAGE>

                  (I) The undersigned hereby agrees that the Company may insert
the following or similar legend on the face of the Common Stock to be issued, if
it is required to comply with the Act or state securities laws:

                           These securities have not been registered under the
Securities Act of 1933, as amended (Act), or any state securities laws and may
not be sold or otherwise transferred or disposed of except pursuant to an
effective registration statement under the Act and any applicable state
securities laws, or pursuant to an opinion of counsel satisfactory to counsel to
the Company that an exemption from registration under the act and any applicable
state securities laws is available.

                           The undersigned certifies that each of the foregoing
representations and warranties set forth in subsections (A) through (I)
inclusive of the Section 3 are true as of the date hereof and shall survive such
date.

         4.       SPECIFIC STATE LEGENDS

                  EACH FLORIDA RESIDENT WHO SUBSCRIBES FOR THE PURCHASE OF
COMMON STOCK HEREIN HAS THE RIGHT, PURSUANT TO SECTION 517.061(11)(A)(5) OF THE
FLORIDA SECURITIES ACT, TO WITHDRAW HIS OR HER SUBSCRIPTION FOR THE PURCHASE AND
RECEIVE A FULL REFUND OF ALL MONIES PAID WITHIN THREE (3) BUSINESS DAYS AFTER
THE EXECUTION OF THE SUBSCRIPTION AGREEMENT OR PAYMENT FOR THE PURCHASE HAS BEEN
MADE, WHICHEVER IS LATER. WITHDRAWAL WILL BE WITHOUT ANY FURTHER LIABILITY TO
ANY PERSON. TO ACCOMPLISH THIS WITHDRAWAL, A SUBSCRIBER NEED ONLY SEND A LETTER
OR TELEGRAM TO THE COMPANY AT THE ADDRESS SET FORTH IN THIS CONFIDENTIAL TERM
SHEET INDICATION HIS INTENTION TO WITHDRAW.

                  SUCH LETTER OR TELEGRAM SHOULD BE SENT AND POSTMARKED PRIOR TO
THE END OF THE AFOREMENTIONED THIRD BUSINESS DAY. IT IS ADVISABLE TO SEND SUCH
LETTER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ENSURE THAT IT IS
RECEIVED AND ALSO TO EVIDENCE THE TIME IT WAS MAILED. IF THE REQUEST IS MADE
ORALLY, IN PERSON, OR BY TELEPHONE TO AN OFFICER OF THE COMPANY, A WRITTEN
CONFIRMATION THAT THE REQUEST HAS BEEN RECEIVED SHOULD BE REQUESTED.

         5.       REVOCATION

                  The undersigned agrees that he or she shall not cancel,
terminate, or revoke this Subscription Agreement or any agreement of the
undersigned made hereunder and that this Subscription Agreement shall survive
the death or disability of the undersigned.

                                      F-3

<PAGE>

         6.       TERMINATION OF SUBSCRIPTION AGREEMENT

                  If the Company elects to cancel this Subscription Agreement,
provided that it returns to the undersigned, without interest and without
deduction, all sums paid by the undersigned, this Offer shall be null and void
and of no further force and effect, and no party shall have any rights against
any other party hereunder.

         7.       MISCELLANEOUS

(A) All notices or other communications given or made hereunder shall be in
writing and shall be mailed by registered or certified mail, return receipt
requested, postage prepaid, to the undersigned at
_____________________________________________________

(B) This Subscription Agreement constitutes the entire agreement among the
parties hereto with respect to the subject matter hereof and may be amended only
by a writing executed by all parties.

         8.       CERTIFICATION

                  The undersigned certifies that he or she has read this entire
Subscription Agreement and that every statement on his or her part made and set
forth herein is true and complete.

                  IN WITNESS WHEREOF the undersigned has executed this
Subscription Agreement on the date his or her signature has been subscribed to
below.

DATE:             ____________________________

INVESTOR:         ____________________________

                  ARMOR ELECTRIC, INC.

By:               ____________________________
                  Authorized Officer

                                      F-4

<PAGE>

                       INVESTOR SUITABILITY QUESTIONNAIRE

THE FOLLOWING INVESTOR SUITABILITY QUESTIONNAIRE IS ESSENTIAL TO ENSURE THAT
THIS PRIVATE OFFERING IS CONDUCTED IN FULL COMPLIANCE WITH RULE 504 OF
REGULATION D PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE
QUESTIONNAIRE WILL REMAIN ON FILE IN ABSOLUTE CONFIDENCE IN THE OFFICE OF THE
COMPANY. YOUR COOPERATION IN THE FULL COMPLETION OF THE INVESTOR QUESTIONNAIRE
IS GREATLY APPRECIATED.

         This questionnaire is being provided to you in connection with your
possible purchase of stock (the "Interest") in Armor Electric, Inc., a Florida
corporation (the "Corporation").

         The undersigned understands that this questionnaire is to enable the
Corporation to discharge their responsibilities under the private placement
exemption and rely upon the information contained herein. Accordingly, the
undersigned represents as follows:

                  (i) The information contained herein is complete and accurate
and may be relied upon by the Corporation and their advisers; and

                  (ii) The undersigned will notify the Corporation immediately
of any material change in any such information occurring prior to the acceptance
or rejection of its subscription.

         The undersigned also understands and agrees that, although the
Corporation will attempt to keep the information provided in the answers to this
questionnaire strictly confidential, the Corporation may present this
questionnaire and the information provided in answers to it to such parties as
they deem advisable if called upon to establish the availability under any
federal or state securities laws of an exemption from registration or if the
contents hereof are relevant to any issue in any action, suit, or proceeding to
which the Corporation is a party or by which the Corporation is or may be bound.

         This questionnaire does not constitute an offer by the Corporation to
sell Interests but is a request for information.

         1. Subscriber qualifies as an "accredited investor" pursuant to Rule
501(a) of Regulation D, as promulgated by the Securities and Exchange Commission
under the Securities Act of 1933, as amended (the "Securities Act"), by virtue
of Subscriber's meeting at least one of the requirements set forth below, as
indicated by Subscriber's initials to the right of the applicable
subparagraph(s):

                                      F-5

<PAGE>

<TABLE>
<S>                                                                                     <C>
(a) The undersigned is a natural person whose individual net worth, or joint net
worth with that person's spouse, at the time of this investment exceeds
$1,000,000. The term "net worth" means the excess of total assets over total
liabilities. In computing net worth the principal residence of the investor must
be valued at cost, including cost of improvements, or at recently appraised
value by an institutional lender making a secured loan, net of encumbrances.
                                                                                        ------------------
                                                                                              Initial

(b) The undersigned is a natural person who had an individual income in excess
of $200,000 in each of the two most recent years or joint income with that
person's spouse in excess of $300,000 in each of those years and has a
reasonable expectation of reaching the same income level in the current year.
Individual income is defined as adjusted gross income (as reported for federal
income tax purposes), less any income earned by a spouse or from property owned
by a spouse increased by the following amounts (not attributable to a spouse);
(i) the amount of any tax exempt interest income received, (ii) the amount of
losses claimed as a limited partner in a limited Corporation and (iii) any
deductions claimed for depletion;

                                                                                        ------------------
                                                                                              Initial

(c) The undersigned is a corporation or partnership, not formed for the specific
purpose of acquiring the Interest, with total assets in excess of $5,000,000;
                                                                                        ------------------
                                                                                              Initial

(d) The undersigned is an organization described in Section 501(c)(3) of the
Internal Revenue Code or a Massachusetts or similar business trust, not formed
for the specific purpose of acquiring the Interest, with total assets in excess
of $5,000,000;
                                                                                        ------------------
                                                                                              Initial

                                      F-6

<PAGE>

(e) The undersigned is a trust with total assets in excess of $5,000,000, not
formed for the specific purpose of acquiring the Interest whose investments are
directed by a sophisticated person as described in Rule 506(b)(2)(ii) as adopted
by the Securities and Exchange Commission pursuant to the Securities Act:
                                                                                        ------------------
                                                                                              Initial

(f) The undersigned is a director or an executive officer of the Corporation;
                                                                                        ------------------
                                                                                              Initial

(g) The undersigned is a bank as defined in Section 3(a)(2) of the Securities
Act, or a savings and loan association or other institution as defined in
Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or
fiduciary capacity; an insurance company as defined in Section 2(13) of the
Securities Act; a broker or dealer registered pursuant to Section 15 of the
Securities Exchange Act of 1934, as amended; an investment company registered
under the Investment Company Act of 1940 or a business development company as
defined in Section 2(a)(48) of that Act; a Small Business Administration under
Section 301(c) or (d) of the Small Business Investment Act of 1958; a plan
established and maintained by a state, its political subdivisions, or any agency
or instrumentality of a state or its political subdivisions for the benefit of
its employees, if such plan has total assets in excess of $5,000,000; or an
employee benefit plan within the meaning of Title 1 of the Employee Retirement
Income Security Act of 1974, if the investment decision is made by a plan
fiduciary, as defined in Section 3(21) of such Act, which is either a bank,
savings and loan association, insurance company, or registered investment
advisor, or if the employee benefit plan has total assets in excess of
$5,000,000, or, if a self-directed plan, with investment decisions made solely
by persons that are accredited investors;
                                                                                        ------------------
                                                                                              Initial

(h) The undersigned is a private business development company, as defined in
Section 202(a)(22) of the Investment Advisors Act of 1940; or
                                                                                        ------------------
                                                                                              Initial

                                      F-7

<PAGE>

(i) The undersigned is an entity in which all of the equity owners meet the
requirements of at least one of the above subparagraphs.
                                                                                        ------------------
                                                                                              Initial

2. Subscriber is a qualified investor under Section 25102(f) of the California
Corporate Securities Laws of 1968, as amended, by virtue of the fact that:

(a) Subscriber either has a preexisting personal or business relationship with
the Corporation or any of its officers, directors or controlling persons, or by
reason of Subscriber's business or financial experience or the business or
financial experience of Subscriber's "professional advisor(s)" (as defined in
Section 260.102.12(g) of the Rules of the California Commissioner of
Corporation), who are unaffiliated with and who are not compensated by the
Corporation or any affiliate or selling agent of the Corporation, directly or
indirectly, Subscriber has the capacity to protect Subscriber's own interest in
connection with this investment; AND,
                                                                                        ------------------
                                                                                              Initial

(b) Subscriber is purchasing for his, her, or its own account (or a trust
account if Subscriber is a trustee) and not with a view to or for sale in a
connection with any distribution of the securities to be acquired.
                                                                                        ------------------
                                                                                              Initial
</TABLE>

                                      F-8

<PAGE>

3.       Investor is a bona fide resident of the State of ________ and the
Country of ___________________.

4.       Subscriber Information

                           FOR INDIVIDUAL SUBSCRIBERS
                             (Please Print or Type)

Name of Subscriber:                        _____________________________________

Telephone Number:                          _____________________________________

Street Address:                            _____________________________________

City, State or Territory, Zip:             _____________________________________

Country:                                   _____________________________________

Taxpayer ID, or Social Security Number,
if applicable:                             _____________________________________

Signature:                                 _____________________________________

Date:                                      _____________________________________

                                      F-9

<PAGE>

                 FOR CORPORATE, PARTNERSHIP OR TRUST SUBSCRIBERS
                             (Please Print or Type)

Name of Subscriber:                        _____________________________________

Telephone Number:                          _____________________________________

Street Address:                            _____________________________________

City, State or Territory, Zip:             _____________________________________

Country:                                   _____________________________________

Taxpayer ID, or Social Security Number,
if applicable:                             _____________________________________

Name of Authorized Signatory:              _____________________________________

Date:                                      _____________________________________

Check Type of Ownership:

___________Corporation                     ____________Partnership

___________Trust or Pension Plan           ____________Other: __________________

                                      F-10

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