Document:

Exhibit 10.32

                                 LOAN AGREEMENT

      THIS LOAN  AGREEMENT  (the "Loan  Agreement") is entered into on this 23rd
day of  March,  2004,  by  and  among  SHUMATE  MACHINE  WORKS,  INC.,  a  Texas
corporation   ("Shumate"),   EXCALIBUR  HOLDINGS,   INC.,  a  Texas  corporation
("Excalibur Holdings"),  and EXCALIBUR INDUSTRIES,  INC., a Delaware corporation
("Excalibur Industries") (Shumate,  Excalibur Holdings, and Excalibur Industries
are collectively  referred to herein as the "Borrowers"),  MATTHEW FLEMMING (the
"Guarantor") and STILLWATER NATIONAL BANK AND TRUST COMPANY (the "Lender").

                                    RECITALS:

      WHEREAS,  the Borrowers are currently  indebted to the Lender by virtue of
prior loans and advances as evidenced by the following notes:

             Lender                  Original
            Note No.        Date      Amount       Principal    Interest
            --------        ----      ------       ---------    --------
          900005198301   04/15/2003  3,500,000  $3,500,000.00  198,791.06
          900005423900   04/15/2003             $  212,811.46   2,296.95
                                       500,000
          900005195802   04/15/2003  1,100,000  $1,100,000.00   61,880.84
          900005550600   __________    500,000  $  400,547.00   11,759.12

The above described indebtedness is referred to hereafter as the "Prior Debt."

      WHEREAS,  the Prior Debt and  agreements  thereto are evidenced by various
loan agreements,  promissory notes,  security  agreements,  guaranties and other
instruments  and  agreements,  all  of  which,  collectively,  are  referred  to
hereafter as the "Prior Loan Documents."

      NOW THEREFORE,  in consideration of the mutual covenants contained herein,
it is agreed as follows:

1.    LENDING  AGREEMENT.  Subject to the terms and conditions  hereinafter  set
      forth,  Lender  agrees to lend to Borrowers,  and the  Borrowers  agree to
      borrow from the Lender from time to time on the Borrowers'  request, a sum
      of up to FIVE HUNDRED  THOUSAND  DOLLARS  ($500,000.00)  (the "Loan"),  as
      evidenced by the Note (as defined  below),  which funds advanced under the
      Note (as hereafter  defined) will be used by the Borrowers  solely for the
      purchase  of  equipment  and  other  related  personal  property  used  in
      connection with the conduct of the Borrowers' business,  including but not
      limited to the  Equipment  and other  property  described  at Exhibit  "A"
      hereto (the "Equipment").

2.    BORROWERS'  NOTE. The Loan shall be evidenced by a Promissory Note of even
      date  herewith  in the  principal  face  amount of FIVE  HUNDRED  THOUSAND
      DOLLARS  ($500,000.00)  in form and  substance  and  payable  on the terms
      approved by the Lender (the  "Note").  The Note will bear  interest on the
      unpaid  principal  balance at a per annum rate equal to the Reference Rate

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      plus two percent (2%), which interest rate will be adjusted on each day on
      which a change in the Reference  Rate occurs (the  "Interest  Rate").  The
      "Reference  Rate" will mean the prime rate of interest as published in the
      "Money Rates" section of the of the Wall Street Journal, which rate is not
      necessarily  the lowest rate of interest  charged by the Lender.  Interest
      only on the Note will be paid for ninety (90) days commencing on April 23,
      2004, and on the 23rd day of each month  thereafter,  until June 23, 2004.
      Commencing on July 23, 2004, and on the 23rd day of each month thereafter,
      monthly  payments of principal  and  interest  will be payable on the Note
      based on a sixty (60) month  amortization at the Interest Rate. The entire
      unpaid principal balance of the Note and all accrued interest thereon will
      be due and payable on June 23, 2006 (the "Maturity Date").

3.    RECOURSE.  The  Note  will  be  full  recourse  to the  Borrowers  and the
      Guarantors.

4.    COLLATERAL  SECURITY.  The  performance  of all covenants  and  agreements
      contained in this Loan  Agreement and in the other  documents  executed or
      delivered  as a part of this  transaction  and the payment of the Note and
      all renewals, amendments and modifications thereof shall be secured by the
      following:

      4.1   Security  Agreement.  The  Borrowers  shall  execute  and deliver to
            Lender a Security  Agreement (the "Security  Agreement")  granting a
            security interest  covering all of the Borrowers'  goods,  chattels,
            accounts, inventory,  equipment, contract rights, medical equipment,
            accounts  receivable,  health  care  accounts  receivable,   general
            intangibles,  and all other personal property,  whether now owned or
            hereafter  acquired,  including  but  not  limited  to the  property
            described at Exhibit "A" hereto, and all proceeds,  products, rents,
            profits and income  therefrom  (the  "Equipment")  and UCC Financing
            Statements  as necessary to perfect  Lender's  security  interest in
            such Equipment.

      4.2   Excalibur Holdings Stock Pledge Agreement.  Excalibur Holdings shall
            execute  and  deliver to the Lender a Stock  Pledge  Agreement  (the
            "Excalibur  Holdings  Stock Pledge  Agreement")  granting a security
            interest covering one hundred percent (100%) of Excalibur  Holdings'
            common  stock in  Shumate,  and all  proceeds,  profits,  and income
            therefrom (the "Shumate Stock").

      4.3   Excalibur  Industries Stock Pledge Agreement.  Excalibur  Industries
            shall  execute  and deliver to the Lender a Stock  Pledge  Agreement
            (the  "Excalibur  Industries  Stock  Pledge  Agreement")  granting a
            security  interest  covering one hundred percent (100%) of Excalibur
            Industries'  common stock in Excalibur  Holdings,  and all proceeds,
            profits, and income therefrom (the "Excalibur Holdings Stock").

      4.4   Guaranty  Agreement.  Matthew  Fleming  shall execute and deliver an
            unlimited  Guaranty  Agreement  in favor of the  Lender  in form and
            substance satisfactory to the Lender (the "Guaranty Agreement").

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5.    REPRESENTATIONS  AND  WARRANTIES.  The  Borrowers  jointly  and  severally
      represent and warrant that:

      5.1   Power  and  Authority.  Each of the  Borrowers  is duly  authorized,
            qualified,  and licensed  under all  applicable  federal,  state and
            municipal  laws,  regulations,   ordinances  and  orders  of  public
            authorities  to carry on Borrowers'  business in Texas and all other
            jurisdictions  where Borrowers conduct business;  the Borrowers have
            adequate  authority,  power and legal  right to enter into and carry
            out the  provisions  of this  Loan  Agreement  and  other  documents
            contemplated herein and to consummate the transactions  contemplated
            hereby.

      5.2   No Default. The making and performance by the Borrowers of this Loan
            Agreement,  or the documents to be executed in connection  herewith,
            will not violate any  provision or  constitute  a default  under any
            indenture, agreement, or instrument to which any of the Borrowers is
            bound or affected.

      5.3   Ownership. Borrowers own good title to all of the Collateral.

      5.4   Financial Statements. The Borrowers' financial statements heretofore
            delivered  or to be  delivered  hereafter  to Lender are and will be
            true and correct in all  material  respects,  have been  prepared in
            accordance   with   generally   accepted    accounting    principles
            consistently applied, and fully and accurately present the financial
            condition  reflected therein without material change since the dates
            thereof.

      5.5   Full Disclosure.  Neither this Loan Agreement, nor any statements or
            documents  referred to herein or delivered by the Borrowers pursuant
            to this Loan  Agreement,  contains any untrue  statement or omits to
            state a material  fact  necessary  to make the  statement  herein or
            therein not misleading.

      5.6   Survival  of   Representations   and   Warranties.   All  covenants,
            representations  and warranties  made herein and under all documents
            executed  pursuant  hereto  shall  survive  the  making of the loans
            hereunder  and  the  delivery  of the  Note  and  other  instruments
            executed in connection  therewith  until  complete  repayment of the
            Note and all  renewals  and  modifications  thereof,  and all  other
            indebtedness of Borrowers to Lender under the terms of this loan.

6.    CONDITIONS  PRECEDENT TO LOAN.  The Lender will fund up to the full amount
      of the Note as  requested  by the  Borrowers  on the date  when all of the
      following conditions precedent have been satisfied (the "Closing Date"):

      6.1   Loan.  As soon  as all of the  following  conditions  set  forth  at
            Sections 6.1.1 through 6.1.6 hereof have been  satisfied,  and if no
            Default has occurred hereunder,  the Lender will advance funds under
            the Note  solely  for the  purposes  set forth in  Section 1 hereof.

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<PAGE>

            Borrowers shall perform the following covenants and deliver or cause
            to be delivered to the Lender the following items, all of which will
            be  in  form  and  substance  satisfactory  to  Lender,  and,  where
            necessary,  duly  executed  and  acknowledged,   all  of  which  are
            conditions precedent to the funding of the Loan.

            6.1.1 Closing Documents. This Loan Agreement, the Note, the Guaranty
                  Agreements,  the Security  Agreement,  the Excalibur  Security
                  Agreements,  and all other  documents  as might be required by
                  the Lender,  including but not limited to Financing Statements
                  (all of the  foregoing  are  referred  to  herein as the "Loan
                  Documents")  shall  have been duly  authorized,  executed  and
                  delivered to Lender.

            6.1.2 Insurance.  Borrowers  will deliver to the Lender prior to the
                  initial  funding  of  the  Note,   certificates  of  insurance
                  reflecting   insurance   coverage,   premiums  prepaid,   with
                  insurance  companies  satisfactory to Lender,  in such amounts
                  and  against  such risks as shall be  required  by the Lender,
                  including, but not limited to, the following:

                  6.1.2.1     public  liability   insurance  which  designates
                              Lender as an additional insured; and

                  6.1.2.2     property damage insurance  covering the Collateral
                              for 100% of full replacement cost, which insurance
                              designates the Lender as a loss payee.

            6.1.3 Financial  Statements.  The current financial  statements of
                  the  Borrowers  and each of the  Guarantors  shall have been
                  delivered   to  the  Lender,   and  all  of  which  must  be
                  satisfactory to the Lender.

            6.1.4 Property List. The Borrowers shall have provided Lender with a
                  written request for advance and copies of invoices or purchase
                  orders  reflecting  an itemized list and cost of the Equipment
                  to be purchased with each advance under the Note.

7.    COVENANTS.  Until  payment  in  full of the  Note  and  all  renewals  and
      modifications  thereof, and performance of all obligations owing to Lender
      under this Loan Agreement and the Loan Documents,  unless the Lender shall
      otherwise  consent  in writing or by e-mail  (which  consent  shall not be
      unreasonably  withheld),  the Borrowers jointly and severally covenant and
      agree as follows:

      7.1   Performance  of   Obligations.   The  Borrowers  will  promptly  and
            punctually  perform all of the  obligations  hereunder and under the
            Loan  Documents,   and  under  all  other  instruments  executed  or
            delivered pursuant thereto;

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<PAGE>

      7.2   Use of Loan  Proceeds.  The  Borrowers  shall not  permit  any funds
            advanced  to  Borrowers  under the Loan  Document to be used for any
            purpose other than the purposes set forth in Section 1 hereof;

      7.3   Books and Records.  The  Borrowers  will keep and maintain  accurate
            books and records of account in regard to the  Borrowers'  business,
            which will be kept in accordance with generally accepted  accounting
            principles consistently applied;

      7.4   Lender's Access. Borrowers will at all reasonable times and as often
            as Lender may request,  upon reasonable  advance notice from Lender,
            permit any of Lender's  officers and  employees,  and any authorized
            representative of Lender, to visit Borrowers' offices to inspect the
            Collateral;

      7.5   Other Information.  Within ten (10) days after becoming aware of the
            existence  thereof,  the  Borrowers  shall  notify the Lender of any
            development or other  information which may materially and adversely
            affect (a) the Borrowers' properties, business prospects, profits or
            condition (financial or otherwise);  (b) the Collateral;  or (c) the
            performance by the Borrowers under this  Agreement,  any of the Loan
            Documents,  or  any  other  instrument  executed  pursuant  thereto.
            Without  limiting  the  foregoing,   the  notice  required  by  this
            paragraph   7.5  shall   include   information   regarding  (i)  any
            substantial   dispute   between  any  of  the   Borrowers   and  any
            governmental regulatory body or law enforcement authority, including
            without  limitation  medicare  payment  disputes,  (ii) any material
            litigation,  arbitration or other proceeding,  or (iii) any material
            claim by or against any of the Borrowers;

      7.6   Permits.   The  Borrowers  currently  hold  and  will  maintain  all
            licenses,  permits, charters and registrations which are material to
            the conduct of Borrowers' business;

      7.7   Compliance  with Laws.  The Borrowers will duly observe and conform,
            in all material respects,  to all laws, rules and regulations of any
            governmental authority applicable to the Borrowers;

      7.8   Debt   Restriction.   Borrowers  will  not  incur  or  allow  to  be
            outstanding any  indebtedness  for borrowed  money,  other than that
            evidenced by the Note, indebtedness incurred for liability insurance
            premiums financed for no more than twelve (12) months,  and ordinary
            trade payables, which are incurred in connection with the Borrowers'
            business;

      7.9   No  Redemptions.  The  Borrowers  will not redeem  the common  stock
            interests  in  the  Borrowers  from  any  shareholder  of any of the
            Borrowers, and none of the Borrowers will permit the transfer of any
            common stock interests in any of the Borrowers by any shareholder of
            any of  the  Borrowers  to any  other  shareholder  or to any  third
            person;

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<PAGE>

      7.10  No Distributions.  Borrowers will not, without the Lender's consent,
            distributions  of cash,  or  anything  else of value,  to any of the
            shareholders of any of the Borrowers;

      7.11  No  Merger.  None  of the  Borrowers  will  merge  into  or  with or
            consolidate with any  corporation,  partnership,  limited  liability
            company, or other legal entity;

      7.12  Restriction  on New Business.  None of the Borrowers will enter into
            any  businesses  unrelated to the  ownership  and operation of a the
            Borrowers' business;

      7.13  Capital Expenditures.  The Borrowers will not incur debt for capital
            expenditures,  in  excess  of Fifty  Thousand  Dollars  ($50,000.00)
            annually,  including without limitation  acquisition of real estate,
            acquisition or  construction  of buildings,  fixtures and equipment,
            and  acquisition of machinery,  equipment,  vehicles,  furniture and
            fixtures, except as otherwise contemplated by this Loan Agreement;

      7.14  Loans.  None of the Borrowers will make any loans or advances to any
            of the members of any of the Borrowers,  or to any of the Borrowers'
            directors,  employees,  or  affiliates  without  the  prior  written
            consent of the Lender;

      7.15  Sale of Assets.  The Borrowers will not sell,  lease or grant a lien
            or security  interest on any of the Collateral,  except for the lien
            in favor of the Lender contemplated hereby;

      7.16  No Compensation. None of the directors or shareholders of any of the
            Borrowers  will be paid any salary  solely by virtue of their status
            as directors or shareholders;

      7.17  Insurance  Coverage.  The Borrowers will  continuously  maintain the
            insurance  coverages  described at Section  6.1.2,  and will pay all
            insurance premiums therefor prior to the due dates thereof;

      7.18  Prior Loan  Documents.  The  Borrowers  shall remain  liable for the
            Prior Debt evidenced by the Prior Loan Documents.

8.    DEFAULT.  Each of the following shall  constitute a default  hereunder and
      under each of the Loan Documents ("Default"):

      8.1   Nonpayment  of Note.  Failure  to pay when  due any  interest  on or
            principal of the Note or any renewals or modifications thereof; or

      8.2   Other  Nonpayment.  Failure  to make  payment  when due of any other
            amount  payable to the Lender under the terms of this Loan Agreement
            or any of the Loan Documents; or

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<PAGE>

      8.3   Breach of  Covenants.  Breach by  Borrowers  in the  performance  or
            observance of any covenants  made under this Agreement or any of the
            Loan Documents, or under the terms of any other instrument delivered
            to Lender in connection with this Loan Agreement; provided that with
            respect to any non-monetary covenants, a breach of such non-monetary
            covenant,  which is not cured by the  Borrowers  within  thirty (30)
            days after the occurrence thereof; or

      8.4   Creation  of  Liens.  The  creation  or  enforcement  of  any  lien,
            mortgage,  pledge,  security  interest,  encumbrance,  or other lien
            (including a lien of attachment,  judgment or execution)  securing a
            charge or obligation affecting any or all of the Collateral; or

      8.5   Ownership. The assignment, sale, transfer, encumbrance or conveyance
            of all or any  portion of the  Borrowers'  Collateral,  without  the
            prior written consent of Lender, or if any common stock interests in
            any of the Borrowers are issued by any of the Borrowers, or conveyed
            by  existing  shareholders  of  any  of the  Borrowers  without  the
            Lender's  prior written  consent,  and without  compliance  with the
            provisions of Section 7.21; or

      8.6   Judgment.  Entry by any court of final  judgment (and the expiration
            of all appeals) against any of the Borrowers which is not covered by
            insurance, or an attachment of any property of any of the Borrowers,
            either  of which is not  discharged  to the  satisfaction  of Lender
            within thirty (30) days thereof; or

      8.7   Casualty Loss;  Condemnation.  Substantial  damage or destruction by
            casualty of all or a substantial  portion of the  Collateral  (which
            damage is not covered by insurance),  or taking by rights of eminent
            domain of all or any substantial  portion of the real property owned
            by  the  Borrowers  which  materially  and  adversely   affects  the
            Borrowers' ability to conduct the Borrowers' business; or

      8.8   Bankruptcy.   The   institution   of   bankruptcy,   reorganization,
            liquidation  or  receivership  proceedings  by or against any of the
            Borrowers,  or the  making  of any  assignment  for the  benefit  of
            creditors  by or  against  any  of  the  Borrowers,  if  any  of the
            Borrowers becomes insolvent or any admission by any of the Borrowers
            of its inability to pay its debts as such debts mature; or

      8.9   Governmental  Requirements.  The  issuance  of any order,  decree or
            judgment  pursuant  to any  judicial  or  administrative  proceeding
            declaring that the Borrowers'  operation of the Borrowers'  hospital
            business is in material  violation  of any law,  ordinance,  rule or
            regulation  of  any  governmental  agency,  department,  commission,
            board, bureau or instrumentality; or

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      8.10  Representations.    Any   representation,    warranty,    statement,
            certificate,  schedule or report made or  furnished to the Lender by
            any of the Borrowers proves to be false or erroneous in any material
            respect at the time of the making thereof,  and any of the Borrowers
            fails to take or cause to be taken corrective  measures with respect
            to such  representations  or warranties  satisfactory  to the Lender
            within thirty (30) days after written notice by the Lender, and such
            corrective  measures  are not  completed  to  Lender's  satisfaction
            within thirty (30) days after such written notice is given; or

      8.11  Cross Default.  Any default (as defined or described  therein) under
            the Prior Loan Documents securing the Prior Debt.

9.    REMEDIES.  On the occurrence of a Default, as defined in Section 8 of this
      Agreement,  the Lender may, at Lender's option,  take any of the following
      actions:

      9.1   Acceleration  of  Note.  The  Lender  may  declare  the Note and all
            renewals and modifications thereof to be immediately due and payable
            whereupon the Note and any renewals and modifications  thereof shall
            become  forthwith  due  and  payable  without  presentment,  demand,
            protest or notice of any kind,  and the Lender  shall be entitled to
            proceed  simultaneously  or selectively and  successively to enforce
            its rights under the Note,  this Loan  Agreement,  and any or all of
            the Loan Documents,  and any of the instruments executed pursuant to
            the terms thereof, or in connection therewith,  and all renewals and
            modifications  thereof, and to exercise all other remedies available
            to the Lender at law or in equity.  Nothing  contained  herein shall
            limit Lender's rights and remedies available under applicable law.

      9.2   Selective  Enforcement.  In the  event  the  Lender  shall  elect to
            selectively  and  successively  enforce its rights  under any of the
            Loan  Documents,  such  action  shall  not be  deemed  a  waiver  or
            discharge  of any other lien,  encumbrance  or  security  instrument
            securing  payment of the Note  until  such time as the Lender  shall
            have  been  paid in full all  amounts  owing  under  the  Note.  The
            foreclosure  of any lien provided  pursuant to the terms of the Loan
            Documents  without the  simultaneous  foreclosure  of all such liens
            shall not merge the liens granted which are not foreclosed  with any
            interest that the Lender might obtain as a result of such  selective
            and successive foreclosure.

10.   RELEASE.  Borrowers and Guarantor  hereby  jointly and severally  release,
      acquit and forever  discharge  the Lender and the  Lender's  subsidiaries,
      affiliates,   officers,   directors,   shareholders,   agents,  employees,
      servants, attorneys and representatives,  as well as the respective heirs,
      personal  representatives,  successors  and assigns of any and all of them
      (hereafter collectively called the "Released Lender Parties") from any and
      all claims,  demands,  debts, actions, causes of action, suits, contracts,
      agreements,  obligations, accounts, defenses, offsets against indebtedness
      and  liabilities  of any kind or character  whatsoever,  known or unknown,
      suspected  or  unsuspected,  in contract or in tort,  at law or in equity,
      including without implied  limitation,  such claims and defenses as fraud,
      mistake,  duress and usury, which the Borrowers or Guarantor ever had, now

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<PAGE>

      have, or might hereafter have against the Released Lender Parties, jointly
      or severally,  for or by reason of any matter,  cause or thing  whatsoever
      occurring prior to the date of this  Agreement,  whether or not related in
      whole or in part,  directly or indirectly to the Borrowers' or Guarantor's
      indebtedness.  In  addition,  the  Borrowers  and  Guarantor  agree not to
      commence,  join  in,  prosecute  or  participate  in  any  suit  or  other
      proceeding  in a position  which is adverse to any of the Released  Lender
      Parties arising directly or indirectly from any of the foregoing matters.

11.   MISCELLANEOUS. It is further agreed as follows:

      11.1  Recording Fees. The Borrowers will pay all recording and filing fees
            and notary fees;

      11.2  Expenses.  The Borrowers will pay all  attorneys'  fees and expenses
            incurred by the Lender which are  incidental to (a) the  negotiation
            and  preparation  of the  Loan  Documents;  (b) the  enforcement  or
            defense  of any or all of the  Loan  Documents  and  any  instrument
            executed pursuant thereto or in connection  therewith to evidence or
            secure the Borrowers'  indebtedness to the Lender,  and all renewals
            and  modifications  thereof;  (c)  the  protection  of the  Lender's
            collateral;  (d) the negotiation and preparation of all renewals and
            modifications to the Loan Documents; (e) the partial or full release
            of any of the Lender's  liens on the  Collateral;  and (f) any legal
            advice sought by the Lender in connection with the Loan Documents.

      11.3  Notices. Any notices or other  communications  required or permitted
            hereunder  shall be  sufficiently  given if delivered  personally or
            sent by facsimile  transmission  or by registered or certified mail,
            postage  prepaid,  return receipt  requested and addressed as listed
            below or to such other address as the party concerned may substitute
            by written notice to the other. All notices shall be deemed received
            on the  date of  personal  delivery,  the  date of  confirmation  of
            receipt of a facsimile transmission, or within three days (excluding
            Saturdays,  Sundays and holidays  recognized  in the United  States)
            after being mailed:

            The Borrowers and
            the Guarantor:     12060 FM 3083
                               Conroe, Texas 77301
                               Fax: (936) 539-9396

            With a copy to:    Thomas J. McCaffrey
                               Haynes & Boone, LLP
                               1000 Louisiana, Suite 4300
                               Houston, Texas 77002
                               Fax: (713) 236-5661

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<PAGE>

            The Lender:        Stillwater National Lender and Trust Company
                               1500 S. Utica
                               Tulsa, Oklahoma 74104
                               Attn:  Jerry L. Lanier, Executive Vice President
                               Fax: (918) 523-3892

            With a copy to:    Jared D. Giddens, Esq.
                               Conner & Winters, P.C.
                               211 N. Robinson
                               1700 One Leadership Square
                               Oklahoma City, Oklahoma 73102
                               Fax: (405) 232-2695

      11.4  Amendment and Waiver. This Loan Agreement and the Loan Documents may
            not be amended or modified in any way,  except by an  instrument  in
            writing executed by all of the parties thereto;  provided,  however,
            Lender may, in writing:  (i) extend the time for  performance of any
            of  the  obligations  of  Borrowers;   (ii)  waive  any  default  by
            Borrowers; and (iii) waive the satisfaction of any condition that is
            precedent to the performance of Lender's obligations under this Loan
            Agreement.  In the  event of a waiver  of an  event  of  default  by
            Lender,  such specific event of default shall be deemed to have been
            cured and not  continuing,  but no such waiver  shall  extend to the
            reoccurrence  of the same default or any subsequent or other default
            or impair any consequence of such subsequent or other default.

      11.5  Non-Waiver; Cumulative Remedies. No failure on the part of Lender to
            exercise  and no delay  in  exercising  any  right  hereunder  shall
            operate  as a waiver  thereof,  nor  shall  any  single  or  partial
            exercise by the Lender of any right hereunder  preclude any other or
            further right of exercise thereof.  The remedies herein provided are
            cumulative and not alternative.

      11.6  Applicable Law. This Loan  Agreement,  all of the Loan Documents and
            all other  documents  executed  pursuant  thereto and in  connection
            therewith to evidence or secure the loans contemplated  hereby shall
            be  deemed  to be a  contract  made  under  the laws of the State of
            Oklahoma.  Nothing  in this Loan  Agreement  shall be  construed  to
            constitute  the Lender as a joint  venturer with the Borrowers or to
            constitute a partnership among any of such parties.

      11.7  Descriptive Headings.  The descriptive headings of the paragraphs of
            this Loan Agreement are for  convenience  only and shall not be used
            in the construction of the terms hereof.

      11.8  Integrated Agreement. This Loan Agreement, all of the Loan Documents
            and  the  other  loan  documents  executed  pursuant  hereto  or  in
            connection  herewith  constitute  the entire  agreement  between the
            parties  hereto,  and  there  are  no  agreements,   understandings,
            warranties or  representations  between the parties other than those
            set forth in such documents,  and this Loan Agreement,  and the Loan

                                       10
<PAGE>

            Documents supercede and replace all prior agreements,  letters,  and
            understandings  between the Lender the Borrowers,  including but not
            limited to a certain letter dated  December 12, 2003,  signed by the
            Lender and addressed to the Borrowers,  and the Borrowers agree that
            the Lender has no obligations under such letter.

      11.9  Time of Essence. Time is of the essence of this Loan Agreement.

      11.10 Binding Effect. This Loan Agreement shall be binding on and inure to
            the benefit of the parties hereto and their  respective  successors,
            personal representatives, legal representatives and assigns.

      11.11 Third Party Beneficiary.  Nothing in this Loan Agreement, express or
            implied, is intended to confer on any person, other than the parties
            hereto and their  respective  successors and assigns,  any rights or
            remedies under or by reason of this Loan Agreement.

      11.12 Participation.  Lender is authorized to sell participation interests
            in  the  loan  evidenced  by  this  Agreement  to  other   financial
            institutions;  and Borrowers  agree that subject to the terms of the
            agreements of participation, each holder of a participation interest
            will be entitled to rely on the terms of the loan documents executed
            in  connection  herewith  as if such  holder  had  been  named as an
            original party to the loan  documents.  In connection  with the sale
            and proposed sales of such  participation  interests,  the Lender is
            authorized to disclose all financial and other information about the
            Borrowers  and  the  Guarantors  and  provide  copies  of  the  Loan
            Documents to all  potential  and actual  participants,  and any such
            actions taken prior to the date hereof are hereby authorized.

      11.13 Accuracy of  Information.  This Loan Agreement has been entered into
            by the Lender based upon the information,  data and  representations
            furnished  by  the  Borrowers  to  the  Lender,   and  the  Lender's
            obligation  to close and fund the loan is subject  to the  continued
            accuracy  of all  matters  submitted  to  the  Lender  herewith.  By
            acceptance hereof, the Borrowers jointly and severally represent and
            warrant  to  the  Lender  that  all  such   information,   data  and
            representations heretofore and hereafter furnished to the Lender are
            complete  and  accurate  in  all  material  respects  and  there  is
            contained therein no untrue statement of a material fact or omission
            to state a material fact  necessary in order to make the  statements
            made in light of the  circumstances  under  which they were made not
            misleading,  and this warranty shall be true at the time the loan is
            closed and shall survive closing.  There shall be no material change
            at the time the loan is closed of the  income  and  expenses  of the
            property,  the  financial  condition of the  Borrowers and all other
            features of the transaction shall be as represented by the Borrowers
            to the Lender.

                                       11
<PAGE>

      11.14 Maximum Legal Rate of Interest. Notwithstanding any other provisions
            of this Loan Agreement or any of the Loan Documents to the contrary,
            the total interest charges incurred by the Borrowers pursuant to the
            Note shall not  exceed the  maximum  legal  rate of  interest  under
            Oklahoma  law.  If the holder of the Note shall ever be  entitled to
            receive,  collect or apply, as interest on the loans,  any amount in
            excess of the maximum legal rate of interest permitted to be charged
            by  applicable  law,  and,  in the event any holder of the Note ever
            receives,  collects or applies,  as interest,  any such excess, such
            amount  which would be  excessive  interest  shall be applied to the
            reduction of the unpaid  principal  balance of the Note,  and if the
            principal  balance is paid in full,  any  remaining  excess shall be
            forthwith  paid to  Borrowers.  In  determining  whether  or not the
            interest paid or payable under any specific  contingency exceeds the
            highest  lawful rate,  Borrowers  and Lender  shall,  to the maximum
            extent  permitted,   under  applicable  law:  (a)  characterize  any
            non-principal  payment as an expense,  fee or premium rather than as
            interest; (b) exclude voluntary prepayments and the effects thereof;
            (c) "spread" the total amount of interest on the Note throughout the
            entire  term of the  Note  so  that  the  interest  rate is  uniform
            throughout the entire term of the Note.

      11.15 No Responsibility of Lender.  Notwithstanding  any term or provision
            of the Loan  Documents,  Lender  shall  not have any  obligation  or
            responsibility  for the  management,  conduct  or  operation  of the
            business and affairs of Borrowers.  No provision hereof or of any of
            the other Loan Documents shall be construed or interpreted to create
            any  relationship  between  Borrowers  and Lender other than that of
            debtor and creditor.

      11.16 Jurisdiction.  The Borrowers  hereby jointly and severally submit to
            the  jurisdiction  of any state or  federal  court  located in Tulsa
            County,  Oklahoma,  or in Harris  County,  Texas,  as elected by the
            Lender,  in connection  with any action or proceeding  commenced for
            the collection,  enforcement, or defense of this Loan Agreement, the
            Note,  or any of the other Loan  Documents,  and  hereby  waives all
            objections  to  venue  or any  objections  based  on the  theory  of
            non-convenient forum in connection therewith.

      11.17 Counterparts.  This  Agreement  may  be  executed  in  two  or  more
            counterparts,  each of which will be an original instrument, but all
            of which taken together will constitute one agreement.

      IN WITNESS  WHEREOF,  the parties have caused this  instrument  to be duly
executed as of the day and year first above written.

                                    SHUMATE  MACHINE  WORKS, INC., A TEXAS
                                    CORPORATION

                                       12
<PAGE>

                                    By: /s/ Matthew C. Flemming
                                       -------------------------------
                                    Name:  Matthew C. Flemming
                                    Title: CFO

                                    EXCALIBUR   HOLDINGS, INC., A TEXAS
                                    CORPORATION

                                    By: /s/ Matthew C. Flemming
                                       -------------------------------
                                    Name:  Matthew C. Flemming
                                    Title: CFO

                                    EXCALIBUR  INDUSTRIES, INC., A DELAWARE
                                    CORPORATION

                                    By: /s/ Matthew C. Flemming
                                       -------------------------------
                                    Name:  Matthew C. Flemming
                                    Title: CFO

                                    (the "Borrowers")

                                    /s/ Matthew C. Flemming
                                    ----------------------------------
                                    MATTHEW FLEMMING, INDIVIDUALLY

                                    (the "Guarantor")

                                    STILLWATER NATIONAL BANK AND TRUST COMPANY

                                    By:   /s/ Carol A. Kinzer
                                       -------------------------------
                                    Name: Carol A Kinzer
                                    Title:      Senior Vice President

                                    (the "Lender")

                                       13Exhibit 10.1

                              EMPLOYMENT AGREEMENT

      THIS  AGREEMENT,  dated as of April 1, 2004, is between AGU  Entertainment
Corp., a Colorado  corporation,  its parent,  subsidiaries  and sister companies
(the "Company"), and David Levy(the "Employee").

                                    RECITALS

      A. The Company believes the Employee can make a unique contribution to the
business of the Company.

      B. The Board of  Directors  of the Company  believes  that the services of
Employee  would be of great  value to the  Company  and  desires  retaining  his
services for a period of time.

      C. Employee is willing to accept  employment by the Company upon the terms
and conditions hereinafter set forth.

      NOW, THEREFORE,  in consideration of the premises and the mutual covenants
herein  contained and of the mutual  benefits herein  provided,  the receipt and
sufficiency of which are hereby  acknowledged,  the Company and Employee  hereby
agree as follows:

1. TERM OF EMPLOYMENT.

      The Company shall employ Employee and Employee  hereby accepts  employment
by the Company,  on the terms and conditions herein  contained,  for a period of
five (5) years  commencing  as of the date  hereof and ending on the fifth (5th)
anniversary of the date hereof,  subject to termination as hereinafter  provided
(the period from the date hereof through the fifth (5th) anniversary of the date
hereof  or the  date  of  such  termination,  as the  case  may  be,  being  the
"Employment  Period").  This  Agreement may be extended for  subsequent one year
periods by both parties signing an extension  agreement  within 30 days prior to
the expiration of this Employment Period.

2. DUTIES.

      (a) GENERAL DUTIES.  During the Employment  Period, and subject to removal
by the Board of  Directors  of the Company in  accordance  with the  termination
provisions  hereof  Employee  shall  serve  the  Company  in a senior  executive
position as the  President  of the Company  for the  duration of the  Employment
Agreement,  with such duties consistent therewith,  and shall perform such other
services for the Company as may be reasonably  assigned to him from time to time
by the Board of Directors of the Company.

      (b) PRIMARY ACTIVITY.  During the Employment Period, Employee shall devote
his full business efforts,  time and energy to the interests and business of the
Company; however, Employee shall be excused from performing any services for the
Company  hereunder during periods of temporary  illness or incapacity and during
reasonable vacations, and Employee may devote a reasonable amount of time to the
handling of his  personal  affairs,  without  thereby in any way  affecting  the
compensation  to which he is entitled  hereunder.  It is  acknowledged  that the
duties of President may often require from time to time attention to business at
times other than normal business hours.  During the Employment Period,  Employee
shall, to the best of his skill and ability,  use his best efforts and endeavors
to the  extension  and  promotion of the business of the Company,  to the proper

<PAGE>

servicing  of such  business  and to the  protection  of the  good  will of such
business, both as now enjoyed and hereafter acquired.

      (c)  TRAVEL.  The  Employee  agrees to travel for  business  purposes in a
reasonable amount for reasonable  lengths of time,  commensurate with Employee's
position.

3. COMPENSATION.

      As  full   compensation  to  Employee  for  performance  of  his  services
hereunder,  the Company agrees to pay Employee and Employee agrees to accept the
following salary and other benefits during the Employment Period:

      (a) SALARY.  The Company shall pay Employee a salary at the annual rate of
$350,000 per year or such greater  annual rate of  compensation  as the Board of
Directors of the Company may from time to time determine  ("Base  Salary").  The
Base  Salary  due  Employee  hereunder  shall  be  payable  in  equal  bi-weekly
installments,  less any amounts required to be withheld by the Company from time
to time from such salary under any applicable federal, state or local income tax
laws or similar  laws then in effect.  The  parties  agree that the Base  Salary
shall increase 5% at the  commencement  of the second year of this Agreement and
that subsequently the Base Salary will be reviewed annually.

            (i) Notwithstanding  anything in (a) above, Employee agrees to defer
salary  in excess of $2,500  per week for so long as the  Company  accrues  such
excess on its books  and  records  and pays  such  excess to  Employee  upon the
Company raising a minimum of $5,000,000 in equity or equity equivalents.

      (b)  REIMBURSEMENT OF EXPENSES.  The Company shall reimburse  Employee for
all expenses properly incurred by him in the performance of his duties hereunder
in  accordance  with  policies  established  from  time to time by the  Board of
Directors of the Company.

      (c) FURTHER  BENEFITS.  Employee  shall be entitled to  participate in any
health,  accident,  retirement or similar employee benefit plans provided by the
Company  generally  to  its  employees  to  the  extent  commensurate  with  the
participation therein of Employees of the Company. Employee shall be entitled to
participate  in any present or future  bonus,  insurance,  pension,  retirement,
profit sharing or other  compensation or incentive plans adopted by the Company,
for the general and overall benefit of Employees of the Company,  the extent and
manner  of  participation  to be  determined  by the Board of  Directors  of the
Company.  The benefits  provided in this  subsection (c) shall be in addition to
the compensation and benefits  provided in the other subsections of this Section
3. Notwithstanding the foregoing,  the parties do agree that at all times during
the Employment Period,  subject to a reasonable timeframe after the execution of
this Agreement for the Company to implement a health insurance plan, the Company
shall  maintain  a health  insurance  plan in which the  Employee  can choose to
participate on the same basis as all employees generally.  Employee acknowledges
that the Company does not currently  have a health  insurance  plan but that the
Company will utilize its best  efforts to implement a health  insurance  plan as
soon as practical after the execution of this Agreement.

      (d) OFFICES. Employee agrees to serve without additional compensation,  if
elected or appointed thereto,  in one or more offices or as a director of any of
the Company's parent, affiliates, subsidiaries or sister companies.

                                       2
<PAGE>

      (e) VACATION.  The Employee  shall be entitled to three (3) weeks vacation
per year for years one and two of the  Employment  Period.  Commencing  with the
third year of the Employment  Period,  and each subsequent year thereafter,  the
Employee shall be entitled to four (4) weeks vacation per year.

      (f) CAR  ALLOWANCE.  Employee is hereby  granted a car allowance  equal to
$1,500 per month.  Employee shall be responsible  for all costs  associated with
maintaining  the car,  including  but not  limited  to  insurance,  repairs  and
maintenance, fuel and other such costs.

4.   RESTRICTIONS AGAINST COMPETITION, SOLICITATION, SERVICING,
     AND DIVULGING CORPORATE CONFIDENTIAL DATA

      (a)  COVENANT  NOT TO  COMPETE.  As a  material  inducement  to sign  this
Agreement and providing for the Series A Preferred  Stock,  the Employee  agrees
that as long as he is an employee of the  Company,  he will not Compete with the
Company and,  further,  that he will not Compete with the Company during the two
(2) year period  beginning on the date of termination of this Agreement.  During
the Employment  period and the two year period  subsequent to  termination,  the
Employee shall not within the United States  directly or indirectly,  either for
Employee's  own  account,  or as a  partner,  shareholder  ( other  than  shares
regularly traded in a recognized market),  officer,  director,  employee, agent,
consultant or otherwise,  be employed by connected with, participate in, consult
or otherwise  associate with any other  business,  enterprise or venture that is
competitive  with the Company.  During  employment and for a period of two years
thereafter,  the  Employee  shall  not,  directly  or  indirectly,  solicit  for
employment or employ any employee of the Company.

      (b) COVENANT  NOT TO SOLICIT OR SERVICE.  The  Employee  acknowledges  and
agrees that the Company parent has spent  significant  amounts of time and money
in the development of a list of its customers,  distributors, and vendors, which
lists  are  not  available  to the  general  public  or the  Company's  ordinary
employees,  and that  these  lists  may  contain  other  information  about  the
customers,  distributors,  and vendors not  available to the general  public and
that  the  Employee  will be  privileged  to  these  lists.  The  Employee  also
acknowledges  and agrees that the Company's  business would be  irreparably  and
greatly  damaged  by the use of this  information  other  than for its  benefit.
Therefore,  as a material inducement to the Company to enter into this Agreement
and the granting of the Preferred Stock upon execution hereof, the Employee will
not solicit or do  business  with,  or attempt to solicit or do  business  with,
directly or indirectly any of the Company's customers,  distributors or vendors,
except on the  Company's  behalf  and will not  solicit or do  business  with or
attempt to solicit or do  business  with,  directly  or  indirectly,  any of the
Company's  customers,  distributors,  and vendors during the two (2) year period
beginning on the termination of this Agreement.

      (c) COVENANT NOT TO VIOLATE CORPORATE CONFIDENCES.  The Employee will have
access to and will become aware of  confidential  information  and trade secrets
including Customer data, files,  business secrets,  and business  techniques not
generally  available to the public,  and this confidential  information has been
compiled by the Company,  and its parent,  its subsidiaries  and affiliates,  at
great expense and over a great amount of time. The parties acknowledge that this
confidential  information  gives the Company a competitive  advantage over other
businesses  in its field of endeavor  and that the  Company's  business  will be
greatly  and  irreparably  damaged by the  release  or use of this  confidential
information outside of its own business.  Therefore, as a material inducement to
signing this  Agreement,  the Employee will not,  while he is a  Stockholder  of
Pyramid  Music Corp.  or an employee of the Company,  or during the two (2) year
period  beginning  on the  termination  of this  Agreement,  either  disclose or
divulge  this  confidential  information  to  anyone  or use  this  confidential
information in any manner to Compete with the Company.

                                       3
<PAGE>

      (d) Enforcement. The Company may enforce the provisions of this section by
suit for damages, injunction, or both.

         (i) The  Company  would be  irreparably  injured  by the  breach of any
      provision  of this  Section  , and  money  damages  alone  would not be an
      appropriate  measure  of the  harm to the  Company  from  such  continuing
      breach.  Therefore,  equitable relief,  including specific  performance of
      these  provisions by injunction,  would be an  appropriate  remedy for the
      breach of these provisions.

         (ii) Money damages will be appropriate  with respect to any past breach
      of any provision of this Section. Therefore, in case of any breach of this
      Section,  the breaching party shall render a full and complete  accounting
      of the gross receipts,  expenses,  and net profits that have resulted from
      such  breach and shall be liable for money  damages  equal to  twenty-five
      percent (25%) of the gross amount derived by such breaching party from all
      transactions  in breach of this  Section,  such  amount  representing  the
      amount of profit the Company  could have derived from its own  transaction
      of such business.

         (iii) Should a court of competent jurisdiction determine that equitable
      relief is not available to remedy the  continuous  breach of any or all of
      the  provision of this Section,  an amount of liquidated  damages shall be
      paid to the Company by the breaching  party equal to  twenty-five  percent
      (25%)  of the  gross  amount  derived  by such  breaching  party  from all
      transactions  in breach of this  Section,  such  amount  representing  the
      amount of profit the Company  could have derived from its own  transaction
      of such business.

         (iv) If this  Agreement is terminated  for any reason  whatsoever,  not
      renewed or extended,  the provisions of this  Agreement  shall survive and
      shall be in full force and effect for the period  commencing from the date
      of actual termination of employment of the Employee.

              (a) Definitions. For the purposes of this Agreement, the following
         definitions are applicable:

                  (1)  "Compete." "To Compete" and "to Compete with the Company"
              both mean to engage in any business that is  competitive  with the
              Company in any manner  whatsoever as of the date of termination of
              this  Agreement,  including  competing as a  proprietor,  partner,
              investor,  stockholder,  director, officer, employee,  consultant,
              independent contractor, or otherwise, within the United States.

                  (2)  "Customer." A "Customer" of the Company is any person for
              whom it has performed or attempted to perform  services or sold or
              attempted  to sell any  product  or  service,  whether  or not for
              compensation,  and regardless of the date of such rendition, sale,
              or attempted rendition or sale.

                                       4
<PAGE>

5. TERMINATION OF AGREEMENT.

      (a) Events of Termination. The Employment Period shall cease and terminate
upon the earliest to occur of the events specified below:

         (i) The close of  business  on the fifth  (5th)anniversary  of the date
      hereof;

         (ii) the death of Employee;

         (iii)  termination of Employee's  employment for Cause. For the purpose
      of this Agreement,  the Company shall have "Cause" to terminate Employee's
      employment  hereunder  upon (A) the failure by  Employee to  substantially
      perform his material duties hereunder in the reasonable  discretion of the
      Board of Directors,  other than any such failure resulting from incapacity
      due to physical or mental  illness,  (B) the engaging by Employee in gross
      negligence or willful misconduct injurious or potentially injurious to the
      Company in the  Company's  reasonable  discretion,  (C) the  violation  by
      Employee  of  the  provisions  of  Section  4  hereof  in  the  reasonable
      discretion of the Company, or (D) the conviction of Employee of any crime,
      other  than  a  misdemeanor.  As a  condition  precedent  to  the  Company
      terminating  the  Employee  for Cause  pursuant  to  Section  5(a)(iii)(A)
      hereof,  and in the event the reason for Cause  termination  is  something
      that is curable by the Employee in the  Company's  reasonable  discretion,
      then in such event only,  the Company agrees to provide notice to Employee
      of the Cause for  termination  and a 30 day period to cure.  If within the
      reasonable  discretion of the Company, the Employee has failed to cure the
      reason for the Cause  termination  within  said 30 day cure  period,  then
      Company may immediately terminate the Employee without further notice.

         (iv) the election by Employee to  terminate  his  employment  hereunder
      upon 120 days prior written notice;

         (v) the  election by the  Company to  terminate  Employee's  employment
      hereunder without cause; or

         (vi) the  permanent  disability  of  Employee.  For the purpose of this
      Agreement,  the "permanent  disability" of Employee shall mean  Employee's
      inability,  because of his injury,  illness, or other incapacity (physical
      or mental), to perform the services to the Company contemplated hereby for
      a continuous period of 180 days. Such permanent disability shall be deemed
      to have occurred on the he 180th day.

      (b) Compensation  Upon  Termination.  If the Employment Period shall cease
and terminate hereunder

      (i) for any  reason,  with the  exception  of  (a)(v) of this  Section  5,
      Company  shall pay to  Employee  (or his estate in the case of  subsection
      (a)(ii))  his  Base  Salary  pursuant  to  Section  3(a)  hereof  and  the
      reimbursable  expenses incurred under Section 3(b) hereof through the date
      of termination.  The Company shall have no additional or further liability
      to Employee hereunder, or

        (ii) pursuant to subsection  (a)(v) of this Section 5, the Company shall
        (A) pay to Employee his Base Salary  pursuant to Section 3(a) hereof and
        the reimbursable expenses incurred under Section 3(b) hereof through the
        date of  termination,  (B) pay to Employee an amount equal to the lesser
        of (x) his then current  Base Salary for the number of months  remaining

                                       5
<PAGE>

        in the term of this  Agreement,  or (y) his then  current  monthly  Base
        Salary  multiplied  by 24, such amount to be payable in 24 equal monthly
        installments,  in either event less any amounts  required to be withheld
        by the Company under any applicable  federal,  State or local income tax
        laws or similar laws then in effect, and (C) continue for a period of 24
        months  from the  date of  termination  (but  only if  permitted  by the
        applicable  plan) all fringe benefits to which Employee is then entitled
        pursuant to Section 3(c) hereof  (including  payment for any benefits to
        which  Employee  would be  entitled  to receive  under the  Consolidated
        Omnibus  Budget  Reconciliation  Act of 1985,  the  benefit  period with
        respect to which shall commence on the date of  termination);  provided,
        however,  that the Employment  Period shall be deemed to have expired on
        the date of  termination  for the  purposes of any vesting  period,  and
        provided further, that in no event shall Employee be entitled to receive
        pursuant  to  clause  (b)  above an  amount  in  excess of that to which
        Employee  would  have  been  entitled  had  this  Agreement  not been so
        terminated.

      (c)  Effect  of  Termination.  This  Agreement  and  all  liabilities  and
obligations of the parties hereto hereunder shall cease and terminate  effective
upon any  termination  of the  Employment  Period  permitted by this  Agreement;
provided,  however,  that  Employee's  obligations  under Section 4 hereof shall
survive any such termination.

      (d) Remedies.  Nothing herein  contained shall be construed as prohibiting
any party hereto from pursuing any other remedies available to it for any breach
of any provision hereof.

6. ASSIGNMENT.

      This Agreement  shall not be assigned by either party hereto,  except that
the Company shall have the right to assign its rights hereunder to any direct or
indirect  subsidiary of the Company or its parent,  any successor in interest of
the Company or its parent whether by merger,  consolidation,  purchase of assets
or otherwise,  and any person  controlling  or which controls or is under common
control  with  the  Company  or its  parent,  any  such  subsidiary  or any such
successor;  provided,  however,  that any such assignment  shall not relieve the
Company of any of its obligations hereunder.

7. NOTICES.

      All notices requests,  demands and other communications  hereunder must be
in writing and shall be deemed to have been given if delivered by hand or mailed
by first class, registered mail, return receipt requested,  postage and registry
fees prepaid and addressed as follows:

      (a)   If to the Company:
                  AGU Entertainment Corp.
                  Attn: David Levy, CEO
                  11077 Biscayne Blvd.
                  Suite 100
                  Boca Raton, FL 33431

            With a copy to:
                  Blank Rome, LLP
                  Bruce C. Rosetto, Esq.
                  1200 Federal Highway
                  Suite 417
                  Boca Raton, FL 33432

                                       6
<PAGE>

      (b)   If to Employee, addressed to:
                  Allen Jacobi
                  11077 Biscayne
                  Blvd.
                  Suite 200
                  Miami, FL 33161

Addresses may be changed by notice in writing signed by the addressee.

8.  INVENTIONS.

      Employee shall disclose  promptly to Company any and all  conceptions  and
ideas for inventions, improvements, and valuable discoveries, whether patentable
or not,  which are conceived or made by Employee  solely or jointly with another
during the period of  employment  or within  one year  thereafter  and which are
related to the business or activities of the Company.  Employee  hereby  assigns
and  agrees to assign  all his  interest  therein  to  Company  or its  nominee.
Whenever  requested  by  the  Company,   Employee  shall  execute  any  and  all
applications,  assigns or other instruments that Company shall deem necessary to
apply for and obtain  Letters of  Patents  of the United  States or any  foreign
country or to otherwise  protect Company's  interest therein.  These obligations
shall  continue  beyond  termination  of employment  with respect to inventions,
improvements and valuable  discoveries,  whether  patentable or not,  conceived,
made or acquired by Employee  during the period of employment or within one year
thereafter,  and shall be binding upon  Employee's  heirs,  assigns,  executors,
administrators and other legal representatives.

9.  RETURN OF PROPERTY.

      All correspondence,  reports, charts, products, records, designs, patents,
plans, manuals, sales and marketing material, memorandum, advertising materials,
customer lists, distributor lists, vendor lists, telephones,  beepers,  portable
computers,  and any other such data,  information  or property  collected  by or
delivered  to Employee by or on behalf of the  Company,  their  representatives,
customers,  suppliers  or others and all other  materials  compiled  by Employee
which  pertain to the  business  of the  Company  shall be and shall  remain the
property of the Company and shall be delivered to the Company  promptly upon its
request at any time and without respect upon completion or other  termination of
Employee's employment hereunder for any reason.

10.  REPRESENTATIONS OF EMPLOYEE.

Employee  represents  and  warrants to the Company that he is not subject to any
restriction  or  non-competition  covenant in favor of a former  employer or any
other person or entity, and that the execution of this Agreement by Employee and
his provision of services to the company and the  performance of his obligations
hereunder  will  not  violate  or be a  breach  of any  agreement  with a former
employer or any other person or entity.  Further,  Employee  agrees to indemnify
Company for any claim, including but not limited to attorneys' fees and expenses
of investigation,  by any such third party that such third party may now have or
may hereafter have against the Company based upon any noncompetition  agreement,
invention or secrecy agreement between Employee and such third party.

                                       7
<PAGE>

11.  MISCELLANEOUS.

      This  Agreement  embodies  the entire  understanding  between  the parties
hereto  respecting  the  subject  matter  hereof  and no change,  alteration  or
modification hereof may be made except in writing signed by both parties hereto.
Any prior  agreement  between  the  Company and  Employee,  of whatever  kind or
nature, shall be deemed to be superseded for all purposes by this Agreement and,
upon the execution  and delivery of this  Agreement by Employee and the Company,
any such prior  employment  agreement  shall be deemed to be canceled  and of no
further force or effect.  The headings in this Agreement are for  convenience of
reference only and shall not be considered as part of this Agreement or to limit
or otherwise  effect the meaning  hereof.  If any  provisions of this  Agreement
shall be held invalid, illegal or unenforceable in whole or in part, neither the
validity of the remaining part of such  provisions nor the validity of any other
provisions  of  this  Agreement  shall  in any  way be  affected  thereby.  This
agreement  shall in all respects be governed by and construed in accordance with
the laws of the State of Florida.

12.  ADVICE OF COUNSEL

      Employee  recognizes  that the Company is represented  by counsel,  namely
Blank Rome,  LLP.,  and that such counsel does not  represent  the  interests of
Employee.  The Company strongly recommends and suggests that Employee obtain its
own counsel to review this Agreement  prior to execution of the  Agreement.  The
Company agrees to provide Employee with a reasonable period of time to have this
Agreement reviewed by its own counsel or any other  professional  adviser deemed
appropriate by the Employee.  Should  Employee not choose to have this Agreement
reviewed by its own counsel,  then Employee  assumes the risk of such  decision,
and Employee hereby acknowledges that Company has not unduly influenced Employee
in any way and that Company desires that Employee retain its own counsel.

      IN WITNESS  WHEREOF,  the parties  hereto have executed and delivered this
Agreement as of the day and year first above written.

Witnesses:                                    "COMPANY"

                                    By:
-------------------------------        ----------------------------------------

                                             "EMPLOYEE"

-------------------------------     -------------------------------------------
                                    David Levy

                                       8

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