Document:

<PAGE>

                             LOAN CONVERSION RIGHTS

         THIS AGREEMENT (this "Agreement") made as of the [2] day of December,
1998, by and between Argotec Ltd./Formula Ventures Ltd (the "Lender"), and
Constellation 3D Holdings Limited (the "Company").

WITNESSESTH:

WHEREAS, the Company is in the process of searching for equity financing, and

WHEREAS the Company requires a loan in order to conduct its business activities,
and

WHEREAS a Terms Sheet was was made as of October 15, 1998, by and between the
Lender and a subsidiary of the Company, Memory Devices (MD) (1996) Ltd.
(hereinafter "MD").

WHEREAS under the said Term Sheet the Lender intends to provide a credit line of
$ 0.6 Million to MD, and

WHEREAS the Lender is willing to have conversion rights on the sais credit line
conversion rights that are meaningful in the context of the shares of the
Company and

WHEREAS, the Company is willing to give such conversion rights on the basis of
the credit line provided to MD.

         NOW THEREFORE, the parties hereto hereby agree as follows:

Conversion. At any time on or before August 1, 1999, the Lender may upon 45 days
written notice, elect at its sole discretion to convert the actual credit
provided and the interest into fully-paid and non-assessable Preferred Shares of
a nominal value of (pound)0.01 each, of the Company (the "Preferred Shares").
The conversion price for each Preferred Share to be issued to the Lender upon
conversion, shall be 75% of the price per share based upon the lowest valuation
of the Company used in a financing of the Company between the date of this
Agreement until the conversion date divided by the issued and outstanding share
capital of the Company, on a fully diluted basis; provided, however, in the
event that a financing does not occur, the valuation of the Company, will be
agreed upon by the parties for the purposes of conversion.

Miscellaneous. Each of the parties hereto shall perform such further acts and
execute such further documents as may reasonably be necessary to carry out and
give full effect to the provisions of this Agreement and the intentions of the
parties as reflected thereby. This Agreement shall be governed by and construed
according to the laws of the State of Israel without regard to the conflict of
laws provisions thereof. Any dispute arising under or in relation to this
Agreement shall be resolved in the competent court for Tel Aviv-Jalla district,
and each of the parties hereby submits irrevocably to the jurisdiction of such
court. Except as otherwise expressly limited herein the provisions hereof shall
inure to the benefit of and be binding upon the successors, assigns, heirs,
executors, and administrators of the parties hereto. None of the rights,
privileges, or obligations set forth in arising under, or created by this
Agreement may be assigned or transferred by the Company without the prior
consent in writing of the Lender, All of the rights, privileges, or obligations
set forth in, arising under, or created by this Agreement may be used or
transferred by the Lender at its sole discretion. This Agreement and the
Schedules hereto constitute the full and entire understanding and agreement
between the parties with regard to the subject matters hereof and thereof. The
preamble hereto constitutes an integral part hereof. Any term of this Agreement
may be amended and the observance of any term hereof may be waived (either
prospectively or retroactively and either generally or in a particular instance)
only with the written consent of all of the parties to this Agreement. All
notices and other communications required or permitted hereunder to be given to
a party shall notify each other party in writing and shall be telecopied or
mailed by registered or certified mail, postage prepaid, or otherwise delivered
by hand or by messenger to the address appearing in Schedule 3 attached hereto
or such other address with respect to a party as such party shall notify each
other party in writing as above provided. Any notice sent in accordance with
this Section 9 shall be effective (i) if mailed, seven (7) business days after
mailing, (ii) if sent by messenger, upon delivery, and (iii) if sent via
telecopier, upon transmission and electronic confirmation of receipt or (if
transmitted and received on a non business day) on the first business day
following transmission and electronic confirmation of receipt. No delay or
omission to exercise any right, power, or remedy accruing to any party upon any
breach or default under this Agreement, shall be deemed a waiver of any other
breach or default theretofore or thereafter occurring. All remedies, either
under this Agreement or by law or otherwise afforded to any of the parties,
shall be cumulative and not alternative. If any provision of this Agreement is
held by a court of competent jurisdiction to be unenforceable under applicable
law, then such provision shall be excluded from this Agreement and the remainder
of this agreement shall be interpreted so as to give effect to the greatest
extent consistent with and permitted by applicable law, to the meaning and
intention of the excluded provision as determined by such court of competent
jurisdiction.

<PAGE>

IN WITNESS WHEREOF the parties have signed this Agreement in one or more
Counterparts as of the date first hereinabove set forth.

AGROTEC LTD./ FORMULA VENTURES                    By:    /s/  Shai Beili
                                                         -------------------

CONSTELLATION 3D HOLDINGS LTD.                    By:    /s/ Eugene Levich
                                                         -------------------September 12, 2000

To:
Leonardo Berezovski, CFO
Constellation 3D, Inc.

From:
Shai Beilis, Formula Ventures, L.P.

Re:      Loan Conversation
         -----------------

Please convert the outstanding loan (originally $600,000) to 380,000 shares that
will be registered for trading in the next coming registration of the C3D Inc.
shares.

The shares should be allocated to the following entities:

         Formula Ventures L.P.              242,326

         FV-PEH L.P.                         68,628

         Formula Ventures (Israel) L.P.      69,045
                                            -------
                                            380,000

Please approve these terms by return fax.

We'll prepare a more detailed legal document for the signatures of both parties
next week.

Best regards,

 /s/ Shai Beilis
----------------
Shai

We approve the conversation at the terms above:

                  -------------------------
                  Constellation 3D Inc.

--------------------------------------------------------------------------------
           11 GALGALEI HAPLADA, P. O. BOX 2062 HERZLIYA, 48120, ISRAEL
     office@formulaventures.com / TEL: +972 9 960 1800 / FAX +972 9 960 1818
     --------------------------
--------------------------------------------------------------------------------<PAGE>

                                                                EXHIBIT 4.10

             LOGO
      CONSTELLATION 3D, INC.
       www.c-3d.net

                                              Please respond to:
                                       Office of the Director of Legal Affairs
                                              2625 NE 11th Court
                                              Fort Lauderdale, FL 33304
                                              Tel. (954) 568-3007
                                              Fax (954) 565-4673
                                              E-mail mlg.esq@att.net
August 23, 2000

Mr. Rene Hemouth, President
Winnburn Advisory
World Trade Center
10, route de l'Aeroport
P. O. Box 691
1215 Geneva 15, Switzerland

Re:  CONVERSION OF WINNBURN ADVISORY 8% SERIES C CONVERTIBLE NOTE
     TO MATURE OCTOBER 31, 2001.

Dear Mr. Hemouth:

This letter shall act as confirmation of your irrevocable agreement to convert
the outstanding Note of Winnburn Advisory ("Winnburn") to Common Stock in
Constellation 3D, Inc. ("C3D" or the "Company") on the same terms and conditions
as the investment of Halifax Fund, L.P. ("Halifax"), which was concluded earlier
today. The price of your conversion shall be at ten and 15/100 ($10.15) U.S.
dollars.

Further, the Company agrees to include the stock issued to Winnburn pursuant to
your conversion in the Form S-1 registration statement, which we expect to file
with the SEC no later than September 22, 2000.

                                   Sincerely,

                                   CONSTELLATION 3D, INC.

                                   By:  --/s/ Michael Goldberg
                                        -----------------------
                                        Michael Goldberg,
                                        Director of Legal Affairs

Agreed to, accepted and acknowledged this 23rd day of August 2000.

                                   WINNBURN ADVISORY

                                   By:  /s/ Rene Hemouth (SEAL)
                                        ----------------
                                        Rene Hemouth,
                                        President<PAGE>

                                                                EXHIBIT 4.11

             LOGO
      CONSTELLATION 3D, INC.
       www.c-3d.net

                                              Please respond to:
                                       Office of the Director of Legal Affairs
                                              2625 NE 11th Court
                                              Fort Lauderdale, FL 33304
                                              Tel. (954) 568-3007
                                              Fax (954) 565-4673
                                              E-mail mlg.esq@att.net

August 23, 2000

Mr. David Craven
Epicenter Venture Finance Ltd.
World Trade Center
10, route de l'Aeroport
P. O. Box 691
1215 Geneva 15, Switzerland

Re:      CONVERSION OF EPICENTER VENTURE FINANCE LTD. 8% SERIES C CONVERTIBLE
         NOTE FOR US$300,000 TO MATURE OCTOBER 31, 2001.

Dear Mr. Craven:

This letter shall act as confirmation of your irrevocable agreement to convert
the outstanding Note of Epicenter Venture Finance Ltd. ("Epicenter") to Common
Stock in Constellation 3D, Inc. ("C3D" or the "Company") on the same terms and
conditions as the investment of Halifax Fund, L.P. ("Halifax"), which was
concluded earlier today. The price of your conversion shall be at ten and 15/100
($10.15) U.S. dollars.

Further, the Company agrees to include the stock issued to Epicenter pursuant to
your conversion in the Form S-1 registration statement, which we expect to file
with the SEC no later than September 22, 2000.

                                   Sincerely,

                                   CONSTELLATION 3D, INC.

                                   By:   /s/ Michael Goldberg (SEAL)
                                        ---------------------
                                        Michael Goldberg,
                                        Director of Legal Affairs

Agreed to, accepted and acknowledged this 23rd day of August 2000.

                                    EPICENTER VENTURE FINANCE LTD.

                                    By: /s/ David Craven (SEAL)
                                        ----------------
                                        David Craven

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