Document:

Exhibit 4.4

 THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON THE EXERCISE OF THIS
  WARRANT (COLLECTIVELY, THE "SECURITIES") HAVE NOT BEEN REGISTERED UNDER THE
   SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE
   OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE
                                SECURITIES ACT.

                               WARRANT TO PURCHASE

                    COMMON STOCK, PAR VALUE $.0001 PER SHARE

                                       OF

                              TORBAY HOLDINGS, INC.

      This certifies that, for value received, Nutmeg Group, LLC, or registered
assigns ("Warrantholder"), is entitled to purchase from TORBAY HOLDINGS, INC.
(the "Company"), subject to the provisions of this Warrant, at any time and from
time to time until 5:00 p.m. Eastern Standard Time on December 31, 2008, 500,000
shares of the Company's Common Stock, par value $.0001 per share ("Warrant
Shares"). The purchase price payable upon the exercise of this Warrant shall be
$.08 per Warrant Share. The Warrant Price and the number of Warrant Shares which
the Warrantholder is entitled to purchase is subject to adjustment upon the
occurrence of the contingencies set forth in Section 3 of this Warrant, and as
adjusted from time to time, such purchase price is hereinafter referred to as
the "Warrant Price."

      This Warrant is subject to the following terms and conditions:

      I. Exercise of Warrant.

            (a) This Warrant may be exercised in whole or in part but not for a
fractional share. Upon delivery of this Warrant at the offices of the Company or
at such other address as the Company may designate by notice in writing to the
registered holder hereof with the Subscription Form annexed hereto duly
executed, accompanied by payment of the Warrant Price for the number of Warrant
Shares purchased (in cash, by certified, cashier's or other check acceptable to
the Company, by Common Stock of the Company having a Market Value (as
hereinafter defined) equal to the aggregate Warrant Price for the Warrant Shares
to be purchased, or any combination of the foregoing), the registered holder of
this Warrant shall be entitled to receive a certificate or certificates for the
Warrant Shares so purchased. Such certificate or certificates shall be promptly
delivered to the Warrantholder. Upon any partial exercise of this Warrant, the
Company shall execute and deliver a new Warrant of like tenor for the balance of
the Warrant Shares purchasable hereunder.

<PAGE>

            (b) In lieu of exercising this Warrant pursuant to Section 1(a), the
holder may elect to receive shares of Common Stock equal to the value of this
Warrant determined in the manner described below (or any portion thereof
remaining unexercised) upon delivery of this Warrant at the offices of the
Company or at such other address as the Company may designate by notice in
writing to the registered holder hereof with the Notice of Cashless Exercise
Form annexed hereto duly executed. In such event the Company shall issue to the
holder a number of shares of the Company's Common Stock computed using the
following formula:

                     X = Y (A-B)
                         -------
                            A

Where X = the number of shares of Common Stock to be issued to the holder.
      Y = the number of shares of Common Stock purchasable under this Warrant
          (at the date of such calculation).
      A = the Market Value of the Company's Common Stock on the business day
          immediately preceding the day on which the Notice of Cashless Exercise
          is received by the Company.
      B = Warrant Price (as adjusted to the date of such calculation).

            (c) The Warrant Shares deliverable hereunder shall, upon issuance,
be fully paid and non-assessable and the Company agrees that at all times during
the term of this Warrant it shall cause to be reserved for issuance such number
of shares of its Common Stock as shall be required for issuance and delivery
upon exercise of this Warrant.

            (d) For purposes of this Warrant, the Market Value of a share of
Common Stock on any date shall be equal to (i) the closing bid price per share
as published by a national securities exchange on which shares of Common Stock
(or other units of the security) are traded (an "Exchange") on such date or, if
there is no bid for Common Stock on such date, the bid price on such exchange at
the close of trading on the next earlier date or, (ii) if shares of Common Stock
are not listed on a national securities exchange on such date, the closing bid
price per share as published on the National Association of Securities Dealers
Automatic Quotation System ("NASDAQ") National Market System if the shares are
quoted on such system on such date, or (iii) the closing bid price in the
over-the-counter market at the close of trading on such date if the shares are
not traded on an exchange or listed on the NASDAQ National Market System, or
(iv) if the Common Stock is not traded on a national securities exchange or in
the over-the-counter market, the fair market value of a share of Common Stock on
such date as determined in good faith by the Board of Directors. If the holder
disagrees with the determination of the Market Value of any securities of the
Company determined by the Board of Directors under Section 1(d)(iv) the Market
Value of such securities shall be determined by an independent appraiser
acceptable to the Company and the holder (or, if they cannot agree on such an
appraiser, by an independent appraiser selected by each of them, and Market
Value shall be the median of the appraisals made by such appraisers). If there
is one appraiser, the cost of the appraisal shall be shared equally between the
Company and the holder. If there are two appraisers, each of the Company and the
holder shall pay for its own appraisal.

<PAGE>

      II. Transfer or Assignment of Warrant.

            (a) Any assignment or transfer of this Warrant shall be made by
surrender of this Warrant at the offices of the Company or at such other address
as the Company may designate in writing to the registered holder hereof with the
Assignment Form annexed hereto duly executed and accompanied by payment of any
requisite transfer taxes, and the Company shall, without charge, execute and
deliver a new Warrant of like tenor in the name of the assignee for the portion
so assigned in case of only a partial assignment, with a new Warrant of like
tenor to the assignor for the balance of the Warrant Shares purchasable.

            (b) Prior to any assignment or transfer of this Warrant, the holder
thereof shall deliver an opinion of counsel to the Company to the effect that
the proposed transfer may be effected without registration under the Act.

      III. Adjustment of Warrant Price and Warrant Shares -- Anti-Dilution
Provisions.

                  A. (1) Except as hereinafter provided, in case the Company
            shall at any time after the date hereof issue any shares of Common
            Stock (including shares held in the Company's treasury) without
            consideration, then, and thereafter successively upon each issuance,
            the Warrant Price in effect immediately prior to each such issuance
            shall forthwith be reduced to a price determined by multiplying the
            Warrant Price in effect immediately prior to such issuance by a
            fraction:

                        (a) the numerator of which shall be the total number of
                  shares of Common Stock outstanding immediately prior to such
                  issuance, and

                        (b) the denominator of which shall be the total number
                  of shares of Common Stock outstanding immediately after such
                  issuance.

                  For the purposes of any computation to be made in accordance
            with the provisions of this clause (1), the following provisions
            shall be applicable:

                        (i) Shares of Common Stock issuable by way of dividend
                  or other distribution on any stock of the Company shall be
                  deemed to have been issued and to be outstanding at the close
                  of business on the record date fixed for the determination of
                  stockholders entitled to receive such dividend or other
                  distribution and shall be deemed to have been issued without
                  consideration. Shares of Common Stock issued otherwise than as
                  a dividend, shall be deemed to have been issued and to be
                  outstanding at the close of business on the date of issue.

<PAGE>

                        (ii) The number of shares of Common Stock at any time
                  outstanding shall not include any shares then owned or held by
                  or for the account of the Company.

                  (2) In case the Company shall at any time subdivide or combine
            the outstanding shares of Common Stock, the Warrant Price shall
            forthwith be proportionately decreased in the case of the
            subdivision or proportionately increased in the case of combination
            to the nearest one cent. Any such adjustment shall become effective
            at the close of business on the date that such subdivision or
            combination shall become effective.

            B. In the event that the number of outstanding shares of Common
      Stock is increased by a stock dividend payable in shares of Common Stock
      or by a subdivision of the outstanding shares of Common Stock, which may
      include a stock split, then from and after the time at which the adjusted
      Warrant Price becomes effective pursuant to the foregoing Subsection A of
      this Section by reason of such dividend or subdivision, the number of
      shares issuable upon the exercise of this Warrant shall be increased in
      proportion to such increase in outstanding shares. In the event that the
      number of outstanding shares of Common Stock is decreased by a combination
      of the outstanding shares of Common Stock, then, from and after the time
      at which the adjusted Warrant Price becomes effective pursuant to such
      Subsection A of this Section by reason of such combination, the number of
      shares issuable upon the exercise of this Warrant shall be decreased in
      proportion to such decrease in outstanding shares.

            C. In the event of an adjustment of the Warrant Price, the number of
      shares of Common Stock (or reclassified stock) issuable upon exercise of
      this Warrant after such adjustment shall be equal to the number determined
      by dividing:

                  (1) an amount equal to the product of (i) the number of shares
            of Common Stock issuable upon exercise of this Warrant immediately
            prior to such adjustment, and (ii) the Warrant Price immediately
            prior to such adjustment, by

                  (2) the Warrant Price immediately after such adjustment.

            D. In the case of any reorganization or reclassification of the
      outstanding shares of Common Stock (other than a change in par value, or
      from par value to no par value, or from no par value to par value, or as a
      result of a subdivision or combination) or in the case of any
      consolidation of the Company with, or merger of the Company with, another
      corporation, or in the case of any sale, lease or conveyance of all, or
      substantially all, of the property, assets, business and goodwill of the
      Company as an entity, the holder of this Warrant shall thereafter have the
      right upon exercise to purchase the kind and amount of shares of stock and
      other securities and property receivable upon such reorganization,
      reclassification, consolidation, merger or sale by a holder of the number
      of shares of Common Stock which the holder of this Warrant would have
      received had all Warrant Shares issuable upon exercise of this Warrant
      been issued immediately prior to such reorganization, reclassification,
      consolidation, merger or sale, at a price equal to the Warrant Price then
      in effect pertaining to this Warrant (the kind, amount and price of such
      stock and other securities to be subject to adjustment as herein
      provided).

<PAGE>

            E. In case the Company shall, at any time prior to the expiration of
      this Warrant and prior to the exercise thereof, dissolve, liquidate or
      wind up its affairs, the Warrantholder shall be entitled, upon the
      exercise thereof, to receive, in lieu of the Warrant Shares of the Company
      which it would have been entitled to receive, the same kind and amount of
      assets as would have been issued, distributed or paid to it upon such
      Warrant Shares of the Company, had it been the holder of record of shares
      of Common Stock receivable upon the exercise of this Warrant on the record
      date for the determination of those entitled to receive any such
      liquidating distribution. After any such dissolution, liquidation or
      winding up which shall result in any distribution in excess of the Warrant
      Price provided for by this Warrant, the Warrantholder may at its option
      exercise the same without making payment of the aggregate Warrant Price
      and in such case the Company shall upon the distribution to said
      Warrantholder consider that the aggregate Warrant Price has been paid in
      full to it and in making settlement to said Warrantholder, shall deduct
      from the amount payable to such Warrantholder an amount equal to the
      aggregate Warrant Price.

            F. In case the Company shall, at any time prior to the expiration of
      this Warrant and prior to the exercise thereof make a distribution of
      assets (other than cash) or securities of the Company to its stockholders
      (the "Distribution") the Warrantholder shall be entitled, upon the
      exercise thereof, to receive, in addition to the Warrant Shares it is
      entitled to receive, the same kind and amount of assets or securities as
      would have been distributed to it in the Distribution had it been the
      holder of record of shares of Common Stock receivable upon exercise of
      this Warrant on the record date for determination of those entitled to
      receive the Distribution.

            G. Irrespective of any adjustments in the number of Warrant Shares
      and the Warrant Price or the number or kind of shares purchasable upon
      exercise of this Warrant, this Warrant may continue to express the same
      price and number and kind of shares as originally issued.

      III. Officer's Certificate. Whenever the number of Warrant Shares and the
Warrant Price shall be adjusted pursuant to the provisions hereof, the Company
shall forthwith file, at its principal executive office a statement, signed by
the Chairman of the Board, President, or one of the Vice Presidents of the
Company and by its Chief Financial Officer or one of its Treasurers or Assistant
Treasurers, stating the adjusted number of Warrant Shares and the new Warrant
Price calculated to the nearest one hundredth and setting forth in reasonable
detail the method of calculation and the facts requiring such adjustment and
upon which such calculation is based. Each adjustment shall remain in effect
until a subsequent adjustment hereunder is required. A copy of such statement
shall be mailed to the Warrantholder.

      IV. Charges, Taxes and Expenses. The issuance of certificates for Warrant
Shares upon any exercise of this Warrant shall be made without charge to the
Warrantholder for any tax or other expense in respect to the issuance of such
certificates, all of which taxes and expenses shall be paid by the Company, and
such certificates shall be issued only in the name of the Warrantholder.

<PAGE>

      V. Miscellaneous.

            (a) The terms of this Warrant shall be binding upon and shall inure
to the benefit of any successors or assigns of the Company and of the holder or
holders hereof and of the shares of Common Stock issued or issuable upon the
exercise hereof.

            (b) No holder of this Warrant, as such, shall be entitled to vote or
receive dividends or be deemed to be a stockholder of the Company for any
purpose, nor shall anything contained in this Warrant be construed to confer
upon the holder of this Warrant, as such, any rights of a stockholder of the
Company or any right to vote, give or withhold consent to any corporate action,
receive notice of meetings, receive dividends or subscription rights, or
otherwise.

            (c) Receipt of this Warrant by the holder hereof shall constitute
acceptance of an agreement to the foregoing terms and conditions.

            (d) The Warrant and the performance of the parties hereunder shall
be construed and interpreted in accordance with the laws of the State of New
York and the parties hereunder consent and agree that the State and Federal
Courts which sit in the State of New York and the County of Nassau shall have
exclusive jurisdiction with respect to all controversies and disputes arising
hereunder.

                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
signed by its duly authorized officer and its corporate seal to be affixed
hereto.

Dated: August 24, 2004

                                        TORBAY HOLDINGS, INC.

                                        BY: /s/ William Thomas Large
                                            ------------------------------------
                                            William Thomas Large
                                            President

<PAGE>

                                SUBSCRIPTION FORM

                    (TO BE EXECUTED BY THE REGISTERED HOLDER
                     IF HE DESIRES TO EXERCISE THE WARRANT)

      To: TORBAY HOLDINGS, INC

      The undersigned hereby exercises the right to purchase _________ shares of
Common Stock, par value $.0001 per share, covered by the attached Warrant in
accordance with the terms and conditions thereof, and herewith makes payment of
the Warrant Price for such shares in full.

                  Signature: _______________________________________

                  Address: _________________________________________

DATED: ___________________________

<PAGE>

                   NOTICE OF EXERCISE OF COMMON STOCK WARRANT
             PURSUANT TO NET ISSUE ("CASHLESS") EXERCISE PROVISIONS

<TABLE>
<CAPTION>
<S>                                                 <C>                            <C>
Torbay Holdings, Inc.                               Aggregate Price of             $
a Delaware corporation                              of Warrant                      ------------------------------
140 Old Country Road, Suite 205
Mineola, New York 11501                             Aggregate Price Being          $
                                                    Exercised:                      ------------------------------
Attention: William Thomas Large, President
                                                    Warrant Price                  $
                                                    (per share):                    ------------------------------
                                                    Number of Shares of
                                                    Common Stock to be
                                                    Issued Under this Notice:
</TABLE>

                                CASHLESS EXERCISE

Gentlemen:

      The undersigned, registered holder of the Warrant to Purchase Common Stock
delivered herewith ("Warrant") hereby irrevocably exercises such Warrant for,
and purchasesthereunder, shares of the Common Stock of TORBAY HOLDINGS, INC., a
Delaware corporation, as provided below. Capitalized terms used herein, unless
otherwise defined herein, shall have the meanings given in the Warrant. The
portion of the Aggregate Price (as hereinafter defined) to be applied toward the
purchase of Common Stock pursuant to this Notice of Exercise is $_______,
thereby leaving a remainder Aggregate Price (if any) equal to $______. Such
exercise shall be pursuant to the net issue exercise provisions of Section I.
(b) of the Warrant; therefore, the holder makes no payment with this Notice of
Exercise. The number of shares to be issued pursuant to this exercise shall be
determined by reference to the formula in Section I.(b)of the Warrant which
requires the use of the Market Value (as defined in Section I.(d) of the
Warrant) of the Company's Common Stock on the business day immediately preceding
the day on which this Notice is received by the Company. To the extent the
foregoing exercise is for less than the full Aggregate Price of the Warrant, the
remainder of the Warrant representing a number of Shares equal to the quotient
obtained by dividing the remainder of the Aggregate Price by the Warrant Price
(and otherwise of like form, tenor and effect) may be exercised under Section
I.(a) of the Warrant. For purposes of this Notice the term "Aggregate Price"
means the product obtained by multiplying the number of shares of Common Stock
for which the Warrant is exercisable times the Warrant Price.

                  Signature:_____________________________________

                  Address:______________________________________

                  Date:__________________________________________Exhibit 4.5

 THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON THE EXERCISE OF THIS
  WARRANT (COLLECTIVELY, THE "SECURITIES") HAVE NOT BEEN REGISTERED UNDER THE
   SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE
   OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE
                      SECURITIES ACT. WARRANT TO PURCHASE

                    COMMON STOCK, PAR VALUE $.0001 PER SHARE

                                       OF

                              TORBAY HOLDINGS, INC.

      This certifies that, for value received, Nutmeg Group, LLC, or registered
assigns ("Warrantholder"), is entitled to purchase from TORBAY HOLDINGS, INC.
(the "Company"), subject to the provisions of this Warrant, at any time and from
time to time until 5:00 p.m. Eastern Standard Time on December 31, 2009,
3,000,000 shares of the Company's Common Stock, par value $.0001 per share
("Warrant Shares"). The purchase price payable upon the exercise of this Warrant
shall be $.03 per Warrant Share. The Warrant Price and the number of Warrant
Shares which the Warrantholder is entitled to purchase is subject to adjustment
upon the occurrence of the contingencies set forth in Section 3 of this Warrant,
and as adjusted from time to time, such purchase price is hereinafter referred
to as the "Warrant Price."

      This Warrant is subject to the following terms and conditions:

      I. Exercise of Warrant.

            (a) This Warrant may be exercised in whole or in part but not for a
fractional share. Upon delivery of this Warrant at the offices of the Company or
at such other address as the Company may designate by notice in writing to the
registered holder hereof with the Subscription Form annexed hereto duly
executed, accompanied by payment of the Warrant Price for the number of Warrant
Shares purchased (in cash, by certified, cashier's or other check acceptable to
the Company, by Common Stock of the Company having a Market Value (as
hereinafter defined) equal to the aggregate Warrant Price for the Warrant Shares
to be purchased, or any combination of the foregoing), the registered holder of
this Warrant shall be entitled to receive a certificate or certificates for the
Warrant Shares so purchased. Such certificate or certificates shall be promptly
delivered to the Warrantholder. Upon any partial exercise of this Warrant, the
Company shall execute and deliver a new Warrant of like tenor for the balance of
the Warrant Shares purchasable hereunder.

<PAGE>

            (b) In lieu of exercising this Warrant pursuant to Section 1(a), the
holder may elect to receive shares of Common Stock equal to the value of this
Warrant determined in the manner described below (or any portion thereof
remaining unexercised) upon delivery of this Warrant at the offices of the
Company or at such other address as the Company may designate by notice in
writing to the registered holder hereof with the Notice of Cashless Exercise
Form annexed hereto duly executed. In such event the Company shall issue to the
holder a number of shares of the Company's Common Stock computed using the
following formula:

                       X = Y (A-B)
                           -------
                              A

Where X = the number of shares of Common Stock to be issued to the holder.
      Y = the number of shares of Common Stock purchasable under this Warrant
          (at the date of such calculation).
      A = the Market Value of the Company's Common Stock on the business day
          immediately preceding the day on which the Notice of Cashless Exercise
          is received by the Company.
      B = Warrant Price (as adjusted to the date of such calculation).

            (c) The Warrant Shares deliverable hereunder shall, upon issuance,
be fully paid and non-assessable and the Company agrees that at all times during
the term of this Warrant it shall cause to be reserved for issuance such number
of shares of its Common Stock as shall be required for issuance and delivery
upon exercise of this Warrant.

            (d) For purposes of this Warrant, the Market Value of a share of
Common Stock on any date shall be equal to (i) the closing bid price per share
as published by a national securities exchange on which shares of Common Stock
(or other units of the security) are traded (an "Exchange") on such date or, if
there is no bid for Common Stock on such date, the bid price on such exchange at
the close of trading on the next earlier date or, (ii) if shares of Common Stock
are not listed on a national securities exchange on such date, the closing bid
price per share as published on the National Association of Securities Dealers
Automatic Quotation System ("NASDAQ") National Market System if the shares are
quoted on such system on such date, or (iii) the closing bid price in the
over-the-counter market at the close of trading on such date if the shares are
not traded on an exchange or listed on the NASDAQ National Market System, or
(iv) if the Common Stock is not traded on a national securities exchange or in
the over-the-counter market, the fair market value of a share of Common Stock on
such date as determined in good faith by the Board of Directors. If the holder
disagrees with the determination of the Market Value of any securities of the
Company determined by the Board of Directors under Section 1(d)(iv) the Market
Value of such securities shall be determined by an independent appraiser
acceptable to the Company and the holder (or, if they cannot agree on such an
appraiser, by an independent appraiser selected by each of them, and Market
Value shall be the median of the appraisals made by such appraisers). If there
is one appraiser, the cost of the appraisal shall be shared equally between the
Company and the holder. If there are two appraisers, each of the Company and the
holder shall pay for its own appraisal.

<PAGE>

            (e) This Warrant shall be subject to the forced exercise provisions
set forth in an agreement, dated December 16, 2004 between the Company and The
Nutmeg Group, a copy of which is attached hereto as Exhibit A. By accepting this
Warrant from an assignor, the holder agrees to accept all of the provisions of
this Warant, including the obligation of the holder to exercise this Warrant.

      II. Transfer or Assignment of Warrant.

            (a) Any assignment or transfer of this Warrant shall be made by
surrender of this Warrant at the offices of the Company or at such other address
as the Company may designate in writing to the registered holder hereof with the
Assignment Form annexed hereto duly executed and accompanied by payment of any
requisite transfer taxes, and the Company shall, without charge, execute and
deliver a new Warrant of like tenor in the name of the assignee for the portion
so assigned in case of only a partial assignment, with a new Warrant of like
tenor to the assignor for the balance of the Warrant Shares purchasable.

            (b) Prior to any assignment or transfer of this Warrant, the holder
thereof shall deliver an opinion of counsel to the Company to the effect that
the proposed transfer may be effected without registration under the Act.

      III. Adjustment of Warrant Price and Warrant Shares -- Anti-Dilution
Provisions.

            A. (1) Except as hereinafter provided, in case the Company shall at
      any time after the date hereof issue any shares of Common Stock (including
      shares held in the Company's treasury) without consideration, then, and
      thereafter successively upon each issuance, the Warrant Price in effect
      immediately prior to each such issuance shall forthwith be reduced to a
      price determined by multiplying the Warrant Price in effect immediately
      prior to such issuance by a fraction:

                  (a) the numerator of which shall be the total number of shares
            of Common Stock outstanding immediately prior to such issuance, and

                  (b) the denominator of which shall be the total number of
            shares of Common Stock outstanding immediately after such issuance.

            For the purposes of any computation to be made in accordance with
      the provisions of this clause (1), the following provisions shall be
      applicable:

                        (i) Shares of Common Stock issuable by way of dividend
                  or other distribution on any stock of the Company shall be
                  deemed to have been issued and to be outstanding at the close
                  of business on the record date fixed for the determination of
                  stockholders entitled to receive such dividend or other
                  distribution and shall be deemed to have been issued without
                  consideration. Shares of Common Stock issued otherwise than as
                  a dividend, shall be deemed to have been issued and to be
                  outstanding at the close of business on the date of issue.

<PAGE>

                        (ii) The number of shares of Common Stock at any time
                  outstanding shall not include any shares then owned or held by
                  or for the account of the Company.

                  (2) In case the Company shall at any time subdivide or combine
            the outstanding shares of Common Stock, the Warrant Price shall
            forthwith be proportionately decreased in the case of the
            subdivision or proportionately increased in the case of combination
            to the nearest one cent. Any such adjustment shall become effective
            at the close of business on the date that such subdivision or
            combination shall become effective.

            B. In the event that the number of outstanding shares of Common
      Stock is increased by a stock dividend payable in shares of Common Stock
      or by a subdivision of the outstanding shares of Common Stock, which may
      include a stock split, then from and after the time at which the adjusted
      Warrant Price becomes effective pursuant to the foregoing Subsection A of
      this Section by reason of such dividend or subdivision, the number of
      shares issuable upon the exercise of this Warrant shall be increased in
      proportion to such increase in outstanding shares. In the event that the
      number of outstanding shares of Common Stock is decreased by a combination
      of the outstanding shares of Common Stock, then, from and after the time
      at which the adjusted Warrant Price becomes effective pursuant to such
      Subsection A of this Section by reason of such combination, the number of
      shares issuable upon the exercise of this Warrant shall be decreased in
      proportion to such decrease in outstanding shares.

            C. In the event of an adjustment of the Warrant Price, the number of
      shares of Common Stock (or reclassified stock) issuable upon exercise of
      this Warrant after such adjustment shall be equal to the number determined
      by dividing:

                  (1) an amount equal to the product of (i) the number of shares
            of Common Stock issuable upon exercise of this Warrant immediately
            prior to such adjustment, and (ii) the Warrant Price immediately
            prior to such adjustment, by

                  (2) the Warrant Price immediately after such adjustment.

            D. In the case of any reorganization or reclassification of the
      outstanding shares of Common Stock (other than a change in par value, or
      from par value to no par value, or from no par value to par value, or as a
      result of a subdivision or combination) or in the case of any
      consolidation of the Company with, or merger of the Company with, another
      corporation, or in the case of any sale, lease or conveyance of all, or
      substantially all, of the property, assets, business and goodwill of the
      Company as an entity, the holder of this Warrant shall thereafter have the
      right upon exercise to purchase the kind and amount of shares of stock and
      other securities and property receivable upon such reorganization,
      reclassification, consolidation, merger or sale by a holder of the number
      of shares of Common Stock which the holder of this Warrant would have
      received had all Warrant Shares issuable upon exercise of this Warrant
      been issued immediately prior to such reorganization, reclassification,
      consolidation, merger or sale, at a price equal to the Warrant Price then
      in effect pertaining to this Warrant (the kind, amount and price of such
      stock and other securities to be subject to adjustment as herein
      provided).

<PAGE>

            E. In case the Company shall, at any time prior to the expiration of
      this Warrant and prior to the exercise thereof, dissolve, liquidate or
      wind up its affairs, the Warrantholder shall be entitled, upon the
      exercise thereof, to receive, in lieu of the Warrant Shares of the Company
      which it would have been entitled to receive, the same kind and amount of
      assets as would have been issued, distributed or paid to it upon such
      Warrant Shares of the Company, had it been the holder of record of shares
      of Common Stock receivable upon the exercise of this Warrant on the record
      date for the determination of those entitled to receive any such
      liquidating distribution. After any such dissolution, liquidation or
      winding up which shall result in any distribution in excess of the Warrant
      Price provided for by this Warrant, the Warrantholder may at its option
      exercise the same without making payment of the aggregate Warrant Price
      and in such case the Company shall upon the distribution to said
      Warrantholder consider that the aggregate Warrant Price has been paid in
      full to it and in making settlement to said Warrantholder, shall deduct
      from the amount payable to such Warrantholder an amount equal to the
      aggregate Warrant Price.

            F. In case the Company shall, at any time prior to the expiration of
      this Warrant and prior to the exercise thereof make a distribution of
      assets (other than cash) or securities of the Company to its stockholders
      (the "Distribution") the Warrantholder shall be entitled, upon the
      exercise thereof, to receive, in addition to the Warrant Shares it is
      entitled to receive, the same kind and amount of assets or securities as
      would have been distributed to it in the Distribution had it been the
      holder of record of shares of Common Stock receivable upon exercise of
      this Warrant on the record date for determination of those entitled to
      receive the Distribution.

            G. Irrespective of any adjustments in the number of Warrant Shares
      and the Warrant Price or the number or kind of shares purchasable upon
      exercise of this Warrant, this Warrant may continue to express the same
      price and number and kind of shares as originally issued.

      III. Officer's Certificate. Whenever the number of Warrant Shares and the
Warrant Price shall be adjusted pursuant to the provisions hereof, the Company
shall forthwith file, at its principal executive office a statement, signed by
the Chairman of the Board, President, or one of the Vice Presidents of the
Company and by its Chief Financial Officer or one of its Treasurers or Assistant
Treasurers, stating the adjusted number of Warrant Shares and the new Warrant
Price calculated to the nearest one hundredth and setting forth in reasonable
detail the method of calculation and the facts requiring such adjustment and
upon which such calculation is based. Each adjustment shall remain in effect
until a subsequent adjustment hereunder is required. A copy of such statement
shall be mailed to the Warrantholder.

<PAGE>

      IV. Charges, Taxes and Expenses. The issuance of certificates for Warrant
Shares upon any exercise of this Warrant shall be made without charge to the
Warrantholder for any tax or other expense in respect to the issuance of such
certificates, all of which taxes and expenses shall be paid by the Company, and
such certificates shall be issued only in the name of the Warrantholder.

      V. Miscellaneous.

            (a) The terms of this Warrant shall be binding upon and shall inure
to the benefit of any successors or assigns of the Company and of the holder or
holders hereof and of the shares of Common Stock issued or issuable upon the
exercise hereof.

            (b) No holder of this Warrant, as such, shall be entitled to vote or
receive dividends or be deemed to be a stockholder of the Company for any
purpose, nor shall anything contained in this Warrant be construed to confer
upon the holder of this Warrant, as such, any rights of a stockholder of the
Company or any right to vote, give or withhold consent to any corporate action,
receive notice of meetings, receive dividends or subscription rights, or
otherwise.

            (c) Receipt of this Warrant by the holder hereof shall constitute
acceptance of an agreement to the foregoing terms and conditions.

            (d) The Warrant and the performance of the parties hereunder shall
be construed and interpreted in accordance with the laws of the State of New
York and the parties hereunder consent and agree that the State and Federal
Courts which sit in the State of New York and the County of Nassau shall have
exclusive jurisdiction with respect to all controversies and disputes arising
hereunder.

      IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by
its duly authorized officer and its corporate seal to be affixed hereto.

Dated: December 16, 2004

                                        TORBAY HOLDINGS, INC.

                                        BY: /s/ William Thomas Large
                                            ------------------------------------
                                            William Thomas Large
                                            President

<PAGE>

                                SUBSCRIPTION FORM

                    (TO BE EXECUTED BY THE REGISTERED HOLDER
                     IF HE DESIRES TO EXERCISE THE WARRANT)

      To: TORBAY HOLDINGS, INC

      The undersigned hereby exercises the right to purchase _________ shares of
Common Stock, par value $.0001 per share, covered by the attached Warrant in
accordance with the terms and conditions thereof, and herewith makes payment of
the Warrant Price for such shares in full.

                  Signature: ______________________________________

                  Address: _________________________________________

DATED: ___________________________

<PAGE>

                                    Exhibit A

December 16, 2004

Mr. Tom Large Torbay Holdings, Inc.
140 Old Country Rd., Suite 205
Mineola, NY 11501

Dear Tom:

This is to confirm that The Nutmeg Group/Randy Silver is entitled to the
following warrants at the following strike prices and expiration dates:

3million warrants @ .03=          $   90,000
2.5million warrants @ .04=        $  100,000
2million warrants @ .05=          $  100,000
2million warrants @ .06=          $  120,000
2million warrants @ .07=          $  140,000
2million warrants @ .08=          $  160,000
2million warrants @ .09=          $  180,000
2million warrants @ .10=          $  200,000
1million warrants @ .11=          $  110,000
1million warrants @ .12=          $  120,000
1million warrants @ .13=          $  130,000
TOTAL                             $1,450,000

In addition, The Nutmeg Group/Randy Silver waives, and deems paid, any past-due
interest payments, due pursuant to the Loan Agreement and thus agrees not to
hold Torbay in default as a consequence of the tardy payments, non-payments or
any other breach.

Additionally, with regard to the above warrants, The Nutmeg Group/Randy Silver
will agree that once the shares underlying such warrants are registered, Torbay
can force the exercise of such warrants, with thirty day prior notice (the
"Notice" or the "Demand") with respect to any such warrants. In the event of
such a Notice from Torbay, The Nutmeg Group/Randy Silver must pay Torbay, within
thirty days of the expiration of the thirty-day period following such Notice,
provided however, that The Nutmeg Group/Randy Silver would not be obligated to
pay to Torbay more than $75,000 within any thirty-day period, in connection with
such an exercise. In the event that any Demand exceeds the $75,000, then any
forced exercise shall be deferred until the next thirty-day period, subject
again to the limitation of $75,000 within any thirty-day period.

In addition to the foregoing, Torbay will not be eligible to demand exercise of
any warrants unless, the closing bid price of Torbay Common Stock was at least
50% more than the applicable strike price, for the full thirty day period prior
to such Notice, and remains at least such level during the thirty day period
following the Notice and the average daily dollar trading volume for Torbay
Common Stock for the thirty day period prior to the Notice is at least the
amount of the demand.

<PAGE>

Torbay must issue the shares of any such exercise within forty-eight hours of
payment by The Nutmeg Group/Randy Silver. If the shares underlying such warrants
are not registered by the one-year anniversary of the above date, the warrants
may be exercised on a cashless basis. Any unexercised warrants shall expire on
the five-year anniversary of the above date.

                                        Very truly yours,

                                        /s/ Randall S. Goulding
                                        ----------------------------------------
                                        Randall S. Goulding

By executing below you are evidencing your acquiescence to the foregoing:

                                        /s/ Tom Large
                                        ----------------------------------------
                                        Tom Large

<PAGE>

                   NOTICE OF EXERCISE OF COMMON STOCK WARRANT
             PURSUANT TO NET ISSUE ("CASHLESS") EXERCISE PROVISIONS

<TABLE>
<CAPTION>
<S>                                                  <C>                            <C>
Torbay Holdings, Inc.                                Aggregate Price of             $
a Delaware corporation                               of Warrant                      ----------------------------
140 Old Country Road, Suite 205
Mineola, New York 11501                              Aggregate Price Being          $
                                                     Exercised:                      ----------------------------
Attention: William Thomas Large, President
                                                     Warrant Price                  $
                                                     (per share):                    ----------------------------
                                                     Number of Shares of
                                                     Common Stock to be
                                                     Issued Under this Notice:
</TABLE>

                                CASHLESS EXERCISE

Gentlemen:

      The undersigned, registered holder of the Warrant to Purchase Common Stock
delivered herewith ("Warrant") hereby irrevocably exercises such Warrant for,
and purchasesthereunder, shares of the Common Stock of TORBAY HOLDINGS, INC., a
Delaware corporation, as provided below. Capitalized terms used herein, unless
otherwise defined herein, shall have the meanings given in the Warrant. The
portion of the Aggregate Price (as hereinafter defined) to be applied toward the
purchase of Common Stock pursuant to this Notice of Exercise is $______, thereby
leaving a remainder Aggregate Price (if any) equal to $______. Such exercise
shall be pursuant to the net issue exercise provisions of Section I. (b) of the
Warrant; therefore, the holder makes no payment with this Notice of Exercise.
The number of shares to be issued pursuant to this exercise shall be determined
by reference to the formula in Section I.(b)of the Warrant which requires the
use of the Market Value (as defined in Section I.(d) of the Warrant) of the
Company's Common Stock on the business day immediately preceding the day on
which this Notice is received by the Company. To the extent the foregoing
exercise is for less than the full Aggregate Price of the Warrant, the remainder
of the Warrant representing a number of Shares equal to the quotient obtained by
dividing the remainder of the Aggregate Price by the Warrant Price (and
otherwise of like form, tenor and effect) may be exercised under Section I.(a)
of the Warrant. For purposes of this Notice the term "Aggregate Price" means the
product obtained by multiplying the number of shares of Common Stock for which
the Warrant is exercisable times the Warrant Price.

                  Signature:_____________________________________

                  Address:______________________________________

                  Date:__________________________________________

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