Document:

EXHIBIT 10.92

                                  INVISA, INC.

    SHARES OF SERIES A CONVERTIBLE PREFERRED STOCK AND COMMON STOCK WARRANTS

                             SUBSCRIPTION AGREEMENT

                                                                 August 16, 2004

Mercator Advisory Group LLC
Mercator Momentum Fund, LP
Monarch Pointe Fund, Ltd.
555 South Flower Street, Suite 4500
Los Angeles, California 90071

Ladies and Gentlemen:

Invisa,  Inc.,  a  Nevada  corporation  (the  "COMPANY"),  hereby  confirms  its
agreement  with  Mercator  Momentum  Fund,  LP, and Monarch  Pointe  Fund,  Ltd.
(collectively,  the "PURCHASERS")  and Mercator Advisory Group, LLC ("MAG"),  as
set forth below.

         1.  The  Securities.   Subject  to  the  terms  and  conditions  herein
contained, the Company proposes to issue and sell to the Purchasers an aggregate
of Twenty-Two  Thousand  (22,000)  shares of its Series A Convertible  Preferred
Stock (the  "SERIES A STOCK"),  which  shall be  convertible  into  shares  (the
"CONVERSION  SHARES") of the  Company's  Common  Stock (the  "COMMON  STOCK") in
accordance with the formula set forth in the Certificate of Designations further
described  below and to  Purchasers  and MAG for no additional  compensation  an
aggregate   of  One  Million  Five  Hundred   Thousand   (1,500,000)   warrants,
substantially  in the form  attached  hereto at Exhibit A (the  "WARRANTS"),  to
acquire up to One Million Five  Hundred  Thousand  (1,500,000)  shares of Common
Stock (the "WARRANT  SHARES").  The rights,  preferences  and  privileges of the
Series A Stock are as set forth in the  Certificate of  Designations of Series A
Preferred Stock as filed with the Secretary of State of the State of Nevada (the
"CERTIFICATE  OF  DESIGNATIONS")  in the form attached  hereto as Exhibit B. The
number of Conversion Shares and Warrant Shares that any Purchaser may acquire at
any time are subject to limitation in the Certificate of Designations and in the
Warrants,  respectively,  so that the aggregate number of shares of Common Stock
of which such  Purchaser and all persons  affiliated  with such  Purchaser  have
beneficial  ownership  (calculated  pursuant  to Rule  13d-3  of the  Securities
Exchange  Act of 1934,  as  amended)  does not at any time  exceed  9.99% of the
Company's then outstanding Common Stock.

         The Series A Stock and the Warrants are sometimes  herein  collectively
referred  to  as  the  "SECURITIES."  This  Agreement,   the  Warrants  and  the
Certificate of Designations are sometimes herein collectively referred to as the
"TRANSACTION DOCUMENTS."

                                      -1-
<PAGE>

         The Securities will be offered and sold to the Purchasers  without such
offers and sales being  registered  under the Securities Act of 1933, as amended
(together  with  the  rules  and  regulations  of the  Securities  and  Exchange
Commission  (the  "SEC")  promulgated  thereunder,  the  "SECURITIES  ACT"),  in
reliance on exemptions therefrom.

         In  connection  with the sale of the  Securities,  the Company has made
available  (including  electronically  via the SEC's EDGAR system) to Purchasers
and the  Purchasers  have  reviewed  its periodic  and current  reports,  forms,
schedules,  proxy  statements and other  documents  (including  exhibits and all
other  information  incorporated  by  reference)  filed  with the SEC  under the
Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT"). These reports,
forms,   schedules,   statements,   documents,   filings  and  amendments,   are
collectively  referred to as the "DISCLOSURE  DOCUMENTS." All references in this
Agreement to financial  statements and schedules and other  information which is
"contained,"  "included"  or  "stated"  in the  Disclosure  Documents  (or other
references  of like  import)  shall  be  deemed  to mean  and  include  all such
financial  statements and schedules,  documents,  exhibits and other information
which is incorporated by reference in the Disclosure Documents.

         2.  Representations and Warranties of the Company.  Except as set forth
on the Disclosure Schedule (the "DISCLOSURE  SCHEDULE") delivered by the Company
to Purchasers  on the Closing Date (as defined in Section 3 below),  the Company
represents and warrants to and agrees with Purchasers and MAG as follows:

                  (a) The Disclosure  Documents as of their respective dates did
not, and will not (after giving effect to any updated disclosures therein) as of
the Closing  Date,  contain any untrue  statement of a material  fact or omit to
state a material fact necessary to make the statements  therein, in the light of
the  circumstances  under which they were made, not  misleading.  The Disclosure
Documents  and the  documents  incorporated  or  deemed  to be  incorporated  by
reference  therein,  at the time they were filed or hereafter are filed with the
SEC,  complied and will comply,  at the time of filing, in all material respects
with the requirements of the Securities Act and/or the Exchange Act, as the case
may be, as applicable.

                  (b) Schedule A attached  hereto sets forth a complete  list of
the  subsidiaries of the Company (the  "SUBSIDIARIES").  Each of the Company and
its Subsidiaries has been duly  incorporated or oganized and each of the Company
and the  Subsidiaries  is validly  existing in good standing as a corporation or
other  entity  under  the  laws  of  its   jurisdiction  of   incorporation   or
organization,  with the  requisite  corporate  power  and  authority  to own its
properties  and  conduct its  business  as now  conducted  as  described  in the
Disclosure Documents and is duly qualified to do business as a foreign entity in
good standing in all other  jurisdictions  where the ownership or leasing of its
properties or the conduct of its business  requires such  qualification,  except
where  the  failure  to  be so  qualified  would  not,  individually  or in  the
aggregate, have a material adverse effect on the business,  condition (financial
or other), properties, prospects or results of operations of the Company and the
Subsidiaries, taken as a whole (any such event, a "MATERIAL ADVERSE Effect"); as
of  the  Closing  Date,  the  Company  will  have  the  authorized,  issued  and
outstanding  capitalization  set forth in on  Schedule  B attached  hereto  (the
"COMPANY CAPITALIZATION"); except as set forth in the Disclosure Documents or on
Schedule  A, the  Company  does not have any  subsidiaries  or own  directly  or
indirectly any of the capital stock or other equity or long-term debt securities

                                      -2-
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of or have any  equity  interest  in any other  person;  all of the  outstanding
shares of  capital  stock of the  Company  and the  Subsidiaries  have been duly
authorized and validly  issued,  are fully paid and  nonassessable  and were not
issued in violation of any  preemptive or similar  rights and are owned free and
clear of all liens, encumbrances,  equities, and restrictions on transferability
(other than those  imposed by the  Securities  Act and the state  securities  or
"Blue Sky" laws) or voting; except as set forth in the Disclosure Documents, all
of the  outstanding  shares of  capital  stock of the  Subsidiaries  are  owned,
directly or  indirectly,  by the Company;  except as set forth in the Disclosure
Documents, no options,  warrants or other rights to purchase from the Company or
any Subsidiary, agreements or other obligations of the Company or any Subsidiary
to issue or other  rights to  convert  any  obligation  into,  or  exchange  any
securities for, shares of capital stock of or ownership interests in the Company
or any  Subsidiary  are  outstanding;  and except as set forth in the Disclosure
Documents or on Schedule C, there is no agreement,  understanding or arrangement
among the Company or any Subsidiary and each of their respective stockholders or
any other person  relating to the ownership or  disposition of any capital stock
of the Company or any  Subsidiary or the election of directors of the Company or
any Subsidiary or the governance of the Company's or any  Subsidiary's  affairs,
and,  if any,  such  agreements,  understandings  and  arrangements  will not be
breached  or  violated  as a result of the  execution  and  delivery  of, or the
consummation of the transactions contemplated by, the Transaction Documents.

                  (c)  The  Company  has  the  requisite   corporate  power  and
authority to execute,  deliver and perform its obligations under the Transaction
Documents.  Each  of  the  Transaction  Documents  has  been  duly  and  validly
authorized by the Company and, when executed and delivered by the Company,  will
constitute a valid and legally  binding  agreement  of the Company,  enforceable
against  the  Company in  accordance  with its terms  except as the  enforcement
thereof may be limited by (A) bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium or other similar laws now or hereafter in effect relating
to or affecting  creditors' rights generally or (B) general principles of equity
and the  discretion  of the court before which any  proceeding  therefore may be
brought (regardless of whether such enforcement is considered in a proceeding at
law or in equity) (collectively, the "ENFORCEABILITY EXCEPTIONS").

                  (d)  The  Series  A Stock  and the  Warrants  have  been  duly
authorized  and,  when  issued  upon  payment  thereof in  accordance  with this
Agreement,  will have been validly issued,  fully paid and  non-assessable.  The
Conversion  Shares issuable have been duly  authorized and validly  reserved for
issuance,  and when issued upon  conversion  of the Series A Stock in accordance
with the terms of the  Certificate  of  Designations,  will  have  been  validly
issued,  fully  paid and  non-assessable.  The  Warrant  Shares  have  been duly
authorized and validly  reserved for issuance,  and when issued upon exercise of
the  Warrants  in  accordance  with the terms  thereof,  will have been  validly
issued, fully paid and non-assessable.  The Common Stock of the Company conforms
to  the  description  thereof  contained  in  the  Disclosure   Documents.   The
stockholders of the Company have no preemptive or similar rights with respect to
the Common Stock.

                                      -3-
<PAGE>

                  (e)   No   consent,    approval,    authorization,    license,
qualification, exemption or order of any court or governmental agency or body or
third party is required for the performance of the Transaction  Documents by the
Company  or for  the  consummation  by the  Company  of any of the  transactions
contemplated  thereby, or the application of the proceeds of the issuance of the
Securities as described in this Agreement, except for such consents,  approvals,
authorizations, licenses, qualifications,  exemptions or orders (i) as have been
obtained  on or  prior  to the  Closing  Date,  (ii) as are not  required  to be
obtained on or prior to the Closing Date that will be obtained when required, or
(iii) the failure to obtain which would not,  individually  or in the aggregate,
have a Material Adverse Effect.

                  (f) Except as set forth on  Schedule D, none of the Company or
the  Subsidiaries is (i) in material  violation of its articles of incorporation
or bylaws (or similar organizational  document),  (ii) in breach or violation of
any statute, judgment, decree, order, rule or regulation applicable to it or any
of its properties or assets, which breach or violation would, individually or in
the aggregate,  have a Material Adverse Effect,  or (iii) except as described in
the  Disclosure  Documents,  in default (nor has any event  occurred  which with
notice  or  passage  of time,  or  both,  would  constitute  a  default)  in the
performance or observance of any  obligation,  agreement,  covenant or condition
contained in any contract,  indenture,  mortgage, deed of trust, loan agreement,
note, lease, license,  franchise agreement,  permit, certificate or agreement or
instrument  to which it is a party or to  which  it is  subject,  which  default
would, individually or in the aggregate, have a Material Adverse Effect.

                  (g) The execution,  delivery and performance by the Company of
the  Transaction   Documents  and  the   consummation  by  the  Company  of  the
transactions  contemplated thereby and the fulfillment of the terms thereof will
not (a)  violate,  conflict  with or  constitute  or  result in a breach of or a
default under (or an event that,  with notice or lapse of time,  or both,  would
constitute a breach of or a default under) any of (i) the terms or provisions of
any contract,  indenture,  mortgage, deed of trust, loan agreement, note, lease,
license, franchise agreement,  permit, certificate or agreement or instrument to
which any of the Company or the Subsidiaries is a party or to which any of their
respective   properties  or  assets  are  subject,   (ii)  the   Certificate  of
Incorporation  or bylaws of any of the Company or the  Subsidiaries  (or similar
organizational document) or (iii) any statute,  judgment, decree, order, rule or
regulation of any court or  governmental  agency or other body applicable to the
Company or the Subsidiaries or any of their  respective  properties or assets or
(b)  result in the  imposition  of any lien upon or with  respect  to any of the
properties  or assets now owned or  hereafter  acquired by the Company or any of
the  Subsidiaries;  which violation,  conflict,  breach,  default or lien would,
individually or in the aggregate, have a Material Adverse Effect.

                  (h) The audited consolidated  financial statements included in
the Disclosure  Documents  present fairly the consolidated  financial  position,
results of  operations,  cash flows and changes in  shareholders'  equity of the
entities,  at the dates and for the  periods to which they  relate and have been
prepared in accordance with generally accepted accounting  principles applied on
a consistent basis; the interim  un-audited  consolidated  financial  statements
included in the Disclosure  Documents present fairly the consolidated  financial
position, results of operations and cash flows of the entities, at the dates and
for the periods to which they relate subject to year-end audit  adjustments  and
have been prepared in accordance with generally accepted  accounting  principles

                                      -4-
<PAGE>

applied on a consistent basis with the audited consolidated financial statements
included  therein;  the selected  financial and statistical data included in the
Disclosure  Documents present fairly the information shown therein and have been
prepared  and  compiled  on  a  basis  consistent  with  the  audited  financial
statements included therein, except as otherwise stated therein; and each of the
auditors previously engaged by the Company or to be engaged in the future by the
Company  is an  independent  certified  public  accountant  as  required  by the
Securities Act for an offering registered thereunder.

                  (i)  Except  as  described  in  the  Disclosure  Documents  or
Schedule E, there is not pending or, to the knowledge of the Company, threatened
any  action,  suit,  proceeding,  inquiry  or  investigation,   governmental  or
otherwise,  to which any of the Company or the  Subsidiaries  is a party,  or to
which their  respective  properties or assets are subject,  before or brought by
any court,  arbitrator  or  governmental  agency or body,  that,  if  determined
adversely to the Company or any such Subsidiary,  would,  individually or in the
aggregate,  have a Material  Adverse  Effect or that seeks to restrain,  enjoin,
prevent the  consummation of or otherwise  challenge the issuance or sale of the
Securities to be sold hereunder or the application of the proceeds  therefrom or
the other transactions described in the Disclosure Documents.

                  (j) The Company and the  Subsidiaries  own or possess adequate
licenses or other rights to use all patents,  trademarks,  service marks,  trade
names, copyrights and know-how that are necessary to conduct their businesses as
described in the Disclosure  Documents.  None of the Company or the Subsidiaries
has  received  any  written  notice  of  infringement  of (or  knows of any such
infringement  of)  asserted  rights  of  others  with  respect  to any  patents,
trademarks,  service  marks,  trade names,  copyrights or know-how that, if such
assertion of infringement or conflict were sustained,  would, individually or in
the aggregate, have a Material Adverse Effect.

                  (k) Each of the Company  and the  Subsidiaries  possesses  all
licenses,   permits,   certificates,   consents,  orders,  approvals  and  other
authorizations  from,  and has made  all  declarations  and  filings  with,  all
federal,  state, local and other governmental  authorities,  all self-regulatory
organizations and all courts and other tribunals presently required or necessary
to own or lease,  as the case may be, and to operate its  respective  properties
and to carry on its respective  businesses as now or proposed to be conducted as
set forth in the Disclosure Documents  ("PERMITS"),  except where the failure to
obtain such Permits would not, individually or in the aggregate, have a Material
Adverse  Effect and none of the Company or the  Subsidiaries  has  received  any
notice of any  proceeding  relating to  revocation or  modification  of any such
Permit,  except as described in the  Disclosure  Documents and except where such
revocation or modification would not,  individually or in the aggregate,  have a
Material Adverse Effect.

                  (l) Subsequent to the respective dates as of which information
is given in the Disclosure  Documents and except as described  therein,  (i) the
Company and the  Subsidiaries  have not  incurred any  material  liabilities  or
obligations, direct or contingent, or entered into any material transactions not
in the ordinary course of business or (ii) the Company and the Subsidiaries have
not purchased any of their  respective  outstanding  capital stock, or declared,
paid or otherwise made any dividend or  distribution of any kind on any of their
respective  capital stock or otherwise  (other than, with respect to any of such
Subsidiaries, the purchase of capital stock by the Company), (iii) there has not

                                      -5-
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been any material  increase in the long-term  indebtedness of the Company or any
of the  Subsidiaries,  (iv)  there  has not  occurred  any  event or  condition,
individually or in the aggregate,  that has a Material  Adverse Effect,  and (v)
the  Company  and the  Subsidiaries  have not  sustained  any  material  loss or
interference  with respect to their  respective  businesses or  properties  from
fire, flood, hurricane,  earthquake,  accident or other calamity, whether or not
covered by  insurance,  or from any labor  dispute or any legal or  governmental
proceeding.

                  (m) There are no material  legal or  governmental  proceedings
nor are  there  any  material  contracts  or  other  documents  required  by the
Securities  Act to be described in a  prospectus  that are not  described in the
Disclosure  Documents.  Except  as  described  in the  Disclosure  Documents  or
Disclosure Schedules attached hereto, none of the Company or the Subsidiaries is
in default under any of the contracts  described in the Disclosure  Documents or
Disclosure Schedules,  has received a notice or claim of any such default or has
knowledge of any breach of such contracts by the other party or parties thereto,
except  for such  defaults  or  breaches  as would not,  individually  or in the
aggregate, have a Material Adverse Effect.

                  (n)  Each of the  Company  and the  Subsidiaries  has good and
marketable title to all real property  described in the Disclosure  Documents as
being owned by it and good and marketable  title to the leasehold  estate in the
real  property  described  therein as being  leased by it, free and clear of all
liens, charges, encumbrances or restrictions, except, in each case, as described
in the  Disclosure  Documents  or  such as  would  not,  individually  or in the
aggregate,  have a Material Adverse Effect.  All material leases,  contracts and
agreements  to which the  Company  or any of the  Subsidiaries  is a party or by
which any of them is bound are valid and enforceable  against the Company or any
such  Subsidiary,  are, to the knowledge of the Company,  valid and  enforceable
against the other party or parties thereto and are in full force and effect.

                  (o) Each of the  Company  and the  Subsidiaries  has filed all
necessary  federal,  state and foreign income and franchise tax returns,  except
where the  failure to so file such  returns  would not,  individually  or in the
aggregate,  have a Material Adverse Effect,  and has paid all taxes shown as due
thereon;  and other than tax deficiencies which the Company or any Subsidiary is
contesting in good faith and for which  adequate  reserves have been provided in
accordance  with  generally  accepted  accounting  principles,  there  is no tax
deficiency  that has been asserted  against the Company or any  Subsidiary  that
would, individually or in the aggregate, have a Material Adverse Effect.

                  (p) None of the Company or the Subsidiaries is, or immediately
after the Closing Date will be, required to register as an "investment  company"
or a company  "controlled by" an "investment  company" within the meaning of the
Investment Company Act of 1940, as amended (the "INVESTMENT COMPANY ACT").

                  (q)  None  of the  Company  or  the  Subsidiaries  or,  to the
knowledge of any of such entities'  directors,  officers,  employees,  agents or
controlling persons, has taken, directly or indirectly,  any action designed, or
that might  reasonably be expected,  to cause or result in the  stabilization or
manipulation  of the price of the Common  Stock.

                                      -6-
<PAGE>

                  (r)  None of the  Company,  the  Subsidiaries  or any of their
respective  Affiliates  (as  defined in Rule  501(b) of  Regulation  D under the
Securities Act) directly,  or through any agent,  engaged in any form of general
solicitation  or general  advertising  (as those terms are used in  Regulation D
under the Securities  Act) in connection  with the offering of the Securities or
engaged in any other  conduct that would cause such  offering to be constitute a
public  offering  within  the  meaning of Section  4(2) of the  Securities  Act.
Assuming the accuracy of the representations and warranties of the Purchasers in
Section 6 hereof,  it is not  necessary in connection  with the offer,  sale and
delivery of the Securities to the Purchasers in the manner  contemplated by this
Agreement to register any of the Securities under the Securities Act.

                  (s)  There  is no  strike,  labor  dispute,  slowdown  or work
stoppage with the employees of the Company or any of the  Subsidiaries  which is
pending  or,  to the  knowledge  of  the  Company  or  any of the  Subsidiaries,
threatened.

                  (t) The Company carries general liability  insurance  coverage
comparable to other companies of its size and similar business.

                  (u)  Each  of  the  Company  and  the  Subsidiaries  maintains
internal  accounting  controls  which  provide  reasonable  assurance  that  (A)
transactions  are executed in accordance with  management's  authorization,  (B)
transactions  are recorded as necessary to permit  preparation  of its financial
statements and to maintain  accountability for its assets, and (C) access to its
material assets is permitted only in accordance with management's authorization.

                  (v) Except for (a) a $110,000  Due  Diligence  fee  payable to
MAG, (b) a broker fee in the amount of $66,000 payable to Ascendiant Securities,
LLC,  and (c) a broker fee in the amount of $77,000  payable to Oceana  Partners
LLC, the Company does not know of any claims for services,  either in the nature
of a finder's fee or financial advisory fee, with respect to the offering of the
Securities and the  transactions  contemplated by the Transaction  Documents and
shall indemnify MAG against claims for any such fees.

                  (w) The  Common  Stock  is  traded  on the  Over  the  Counter
Bulletin Board (the "OTC BB"). Except as described in the Disclosure  Documents,
the  Company  currently  is not in  violation  of, and the  consummation  of the
transactions  contemplated  by the Transaction  Documents will not violate,  any
rule of the National Association of Securities Dealers.

                  (x) The  Company is eligible to use SB-2 for the resale of the
Conversion  Shares and the Warrant Shares by Purchasers or their transferees and
the Warrant Shares by Purchasers,  MAG or their transferees.  The Company has no
reason to believe  that it is not  capable of  satisfying  the  registration  or
qualification  requirements (or an exemption  therefrom) necessary to permit the
resale of the  Conversion  Shares and the Warrant Shares under the securities or
"blue sky" laws of any jurisdiction within the United States.

                                      -7-
<PAGE>

         3. Purchase,  Sale and Delivery of the Securities.  On the basis of the
representations,  warranties,  agreements  and  covenants  herein  contained and
subject to the terms and  conditions  herein set forth,  the  Company  agrees to
issue and sell to the  Purchasers,  and  Purchasers  agree to purchase  from the
Company,  Twenty-Two  Thousand  (22,000) shares of Series A Stock at $100.00 per
share in the amounts shown on the signature page hereto.  In connection with the
purchase  and sale of  Series  A Stock,  for no  additional  consideration,  the
Purchasers  will  receive  Warrants to purchase  up to an  aggregate  of 750,000
shares of Common  Stock,  and MAG will  receive  Warrants  to  purchase up to an
aggregate of 750,000 shares of Common Stock,  subject to adjustment as set forth
in the Warrants.

         The closing of the transactions  described herein (the "CLOSING") shall
take place at a time and on a date (the  "CLOSING  DATE") to be specified by the
parties,  which  will be no later  than 5:00 p.m.  (Pacific  time) on August 25,
2004.  On the Closing  Date,  the Company  shall  deliver  (a)  certificates  in
definitive  form for the  Series A Stock  that the  Purchasers  have  agreed  to
purchase,  as well as the  Warrants,  in the names and  amounts set forth on the
signature page hereto,  (b) the 60% of the Due Diligence Fee or $66,000  payable
by wire transfer of immediately  available funds to an account of MAG previously
designated  by it in writing,  (c) 60% of the broker fee or $39,600 as set forth
in Paragraph 2(v) by wire transfer of immediately  available funds to an account
of Ascendiant Securities, LLC previously designated by it in writing, and 60% of
the broker fee or $46,200 as set forth in  Paragraph  2(v) by wire  transfer  of
immediately  available  funds to an account of Oceana  Partners  LLC  previously
designated  by it in  writing,  (d) the Legal  Fees of  $10,000  payable by wire
transfer  of  immediately  available  funds  to an  account  of  MAG  previously
designated by it in writing,  (e) the  Subscription  Agreement,  Certificate  of
Designation and Registration  Rights Agreement,  each duly executed on behalf of
the  Company,  and (f) the  Opinion of Counsel  in the form  attached  hereto as
Exhibit C. On the  Closing  Date,  Purchasers  shall  deliver (i) the 60% of the
Purchase Price or $1,320,000 by wire transfer of immediately  available funds to
an account previously designated in writing, and (ii) the Subscription Agreement
and  Registration  Rights  Agreement,  each  duly  executed  on  behalf  of  the
Purchasers  and MAG. The Closing will occur when all documents  and  instruments
necessary  or  appropriate  to effect the  transactions  contemplated  above are
exchanged by the parties and all actions  taken at the Closing will be deemed to
be taken simultaneously.

         Within two (2) trading days after the  Registration  Statement is filed
with the SEC, (a) the Purchasers shall deliver the balance of the Purchase Price
or  $880,000  by wire  transfer  of  immediately  available  funds to an account
previously  designated in writing,  (b) the Company shall deliver the balance of
the Due  Diligence  Fee or  $44,000  payable  by wire  transfer  of  immediately
available funds to an account of MAG previously designated by it in writing, (c)
the balance of the broker fee or $26,400 as set forth in Paragraph  2(v) by wire
transfer of immediately available funds to an account of Ascendiant  Securities,
LLC previously designated by it in writing, and the balance of the broker fee or
$30,800 as set forth in Paragraph 2(v) by wire transfer of immediately available
funds to an  account  of Oceana  Partners  LLC  previously  designated  by it in
writing.

         4. Certain  Covenants of the Company.  The Company covenants and agrees
with each Purchaser as follows:

                                      -8-
<PAGE>

                  (a) None of the  Company or any of its  Affiliates  will sell,
offer for sale or solicit offers to buy or otherwise negotiate in respect of any
"security" (as defined in the Securities Act) which could be integrated with the
sale of the  Securities in a manner which would require the  registration  under
the Securities Act of the Securities.

                  (b) The  Company  will not  become,  at any time  prior to the
expiration  of three  years  after the  Closing  Date,  an  open-end  investment
company,  unit investment trust,  closed-end  investment  company or face-amount
certificate company that is or is required to be registered under the Investment
Company Act.

                  (c) None of the proceeds of the Series A Stock will be used to
reduce or retire  any  insider  note or  convertible  debt held by an officer or
director of the Company.

                  (d) Subject to Section 10 of this  Agreement,  the  Conversion
Shares and the Warrant Shares will be eligible for trading on the OTC BB or such
market  on which  the  Company's  shares  are  subsequently  listed  or  traded,
immediately following the effectiveness of the Registration Statement.

                  (e) The  Company  will use best  efforts to do and perform all
things  required to be done and  performed  by it under this  Agreement  and the
other Transaction  Documents and to satisfy all conditions precedent on its part
to the  obligations  of the  Purchasers  to purchase and accept  delivery of the
Securities.

                  (f) The Purchasers  shall have a right of first refusal on any
financing  in which the  Company  is the  issuer  of debt or  equity  securities
between  the  Closing  Date and the date of  effectiveness  of the  Registration
Statement.

                  (g)  Prior  to the  Closing,  the  Company  shall  deliver  to
Purchasers  a copy of the fully  executed  release  agreement  with  respect  to
accrued  management  and  director  salaries in the form of EXHIBIT "E" attached
hereto and incorporated  herein by reference.  The Company  represents that such
accrued  management  and  director  salaries  total not more than  $776,142.  As
consideration for such release, the Company shall issue between June 1, 2005 and
January 20, 2006,  not more than 300,000 shares of Common Stock in the aggregate
to management and directors who executed the release, which shares shall contain
restrictive legends providing as follows:

     "THE SHARES OF COMMON  STOCK,  PAR VALUE $.001 PER SHARE,  OF INVISA,  INC.
     (THE "COMPANY") REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN AGREEMENT
     DATED AS OF AUGUST 16, 2004, AND MAY NOT BE SOLD OR OTHERWISE  TRANSFERRED,
     EXCEPT IN ACCORDANCE THEREWITH. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT
     THE PRINCIPAL EXECUTIVE OFFICES OF THE COMPANY.

     "THE SHARES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
     THE  SECURITIES  ACT OF 1933 AND MAY NOT BE ASSIGNED OR  TRANSFERRED IN THE
     ABSENCE OF AN EFFECTIVE  REGISTRATION  STATEMENT UNDER SAID ACT, AN OPINION
     OF COUNSEL  SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT UNDER

                                      -9-
<PAGE>

     THE CIRCUMSTATNCES  REQUIRED,  OR EVIDENCE  SATIFACTORY TO THE COMPANY THAT
     THE SHARES HAVE BEEN SOLD IN COMPLIANCE WITH RULE 144 FORMULATED UNDER SAID
     ACT."

                  (h)  Prior  to the  Closing,  the  Company  shall  deliver  to
Purchasers  a  fully  executed  copy of the  letter  agreement  terminating  the
Quarterly Revenue Based Payment Agreement in the form attached hereto as EXHIBIT
"F" and incorporated herein by reference.

                  (i) Prior to the Closing all  officers  and  directors  of the
Company shall execute a lock-up  agreement  providing that (i) for a period of 6
months after the Closing Date, such officers and directors shall not sell in the
aggregate more than 20,000 shares of Common Stock during any 30 day period,  and
(ii) for months 7 through 12 after the Closing Date, they shall not individually
sell more than 20,000 shares of Common Stock during any 30 day period. A copy of
the  executed  lock-up  agreement  shall be  delivered  to  Purchasers  prior to
Closing.

         5.  Conditions of the Purchasers'  Obligations.  The obligation of each
Purchaser to purchase  and pay for the  Securities  is subject to the  following
conditions unless waived in writing by the Purchaser:

                  (a)  The   representations   and  warranties  of  the  Company
contained in this Agreement  shall be true and correct in all material  respects
(other  than  representations  and  warranties  with a Material  Adverse  Effect
qualifier,  which shall be true and correct as written) on and as of the Closing
Date;  the  Company  shall  have  complied  in all  material  respects  with all
agreements and satisfied all conditions on its part to be performed or satisfied
hereunder at or prior to the Closing Date.

                  (b) None of the issuance and sale of the  Securities  pursuant
to this Agreement or any of the  transactions  contemplated  by any of the other
Transaction  Documents shall be enjoined  (temporarily  or  permanently)  and no
restraining  order or other  injunctive  order shall have been issued in respect
thereof; and there shall not have been any legal action,  order, decree or other
administrative proceeding instituted or, to the Company's knowledge,  threatened
against  the Company or against any  Purchaser  relating to the  issuance of the
Securities or any  Purchaser's  activities in connection  therewith or any other
transactions  contemplated by this Agreement, the other Transaction Documents or
the Disclosure Documents.

                  (c) The Purchasers shall have received certificates, dated the
Closing Date and signed by the Chief  Executive  Officer and the Chief Financial
Officer of the Company, to the effect of paragraphs 5(a) and (b).

                  (d) The Purchasers  shall have received an opinion of Ellenoff
Grossman & Schole LLP with respect to the  authorization  of the Series A Stock,
the Conversion  Shares,  the Warrants and the Warrant Shares and other customary
matters in the form attached hereto as Exhibit C.

                                      -10-
<PAGE>

         6. Representations and Warranties of the Purchasers.

                  (a) Each  Purchaser  and MAG  represents  and  warrants to the
Company  that the  Securities  to be acquired  by it  hereunder  (including  the
Conversion  Shares and the Warrant Shares that it may acquire upon conversion or
exercise thereof, as the case may be) are being acquired for its own account for
investment and with no intention of  distributing  or reselling such  Securities
(including the Conversion Shares and the Warrant Shares that it may acquire upon
conversion  or  exercise  thereof,  as the case may be) or any part  thereof  or
interest  therein  in  any  transaction  which  would  be in  violation  of  the
securities  laws of the United  States of America or any State.  Nothing in this
Agreement,  however,  shall prejudice or otherwise limit a Purchaser's  right to
sell or  otherwise  dispose  of all or any  part of such  Conversion  Shares  or
Warrant Shares under an effective  registration  statement  under the Securities
Act  and in  compliance  with  applicable  state  securities  laws or  under  an
exemption from such  registration.  By executing this Agreement,  each Purchaser
further represents that such Purchaser does not have any contract,  undertaking,
agreement  or   arrangement   with  any  person  to  sell,   transfer  or  grant
participation to any Person with respect to any of the Securities.

                  (b) Each  Purchaser and MAG  understands  that the  Securities
(including the Conversion Shares and the Warrant Shares that it may acquire upon
conversion  or exercise  thereof,  as the case may be) have not been  registered
under the  Securities Act and may not be offered,  resold,  pledged or otherwise
transferred  except (a) pursuant to an  exemption  from  registration  under the
Securities  Act (and,  if  requested  by the  Company,  based upon an opinion of
counsel  acceptable  to the  Company) or pursuant to an  effective  registration
statement  under the  Securities  Act and (b) in accordance  with all applicable
securities laws of the states of the United States and other jurisdictions.

         Each  Purchaser  and  MAG  agrees  to  the   imprinting,   so  long  as
appropriate, of the following legend on the Securities (including the Conversion
Shares and the Warrant  Shares that it may acquire upon  conversion  or exercise
thereof, as the case may be):

         THE  SHARES  OF  STOCK  EVIDENCED  BY THIS  CERTIFICATE  HAVE  NOT BEEN
         REGISTERED UNDER THE U.S.  SECURITIES ACT OF 1933, AS AMENDED,  AND MAY
         NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED  ("TRANSFERRED")
         IN  THE  ABSENCE  OF  SUCH  REGISTRATION  OR  AN  APPLICABLE  EXEMPTION
         THEREFROM. IN THE ABSENCE OF SUCH REGISTRATION,  SUCH SHARES MAY NOT BE
         TRANSFERRED UNLESS, IF THE COMPANY REQUESTS, THE COMPANY HAS RECEIVED A
         WRITTEN OPINION FROM COUNSEL IN FORM AND SUBSTANCE  SATISFACTORY TO THE
         COMPANY STATING THAT SUCH TRANSFER IS BEING MADE IN COMPLIANCE WITH ALL
         APPLICABLE FEDERAL AND STATE SECURITIES LAWS.

         The  legend set forth  above may be removed if and when the  Conversion
Shares or the Warrant Shares, as the case may be, are disposed of pursuant to an
effective  registration  statement under the Securities Act or in the opinion of
counsel  to the  Company  experienced  in the  area  of  United  States  Federal
securities   laws  such  legends  are  no  longer   required  under   applicable
requirements  of the  Securities  Act.  The Series A Stock,  the  Warrants,  the
Conversion  Shares and the  Warrant  Shares  shall  also bear any other  legends
required by applicable  Federal or state  securities  laws, which legends may be
removed  when in the  opinion  of  counsel  to the  Company  experienced  in the
applicable securities laws, the same are no longer required under the applicable
requirements  of such  securities  laws. The Company agrees that it will provide
each Purchaser,  upon request, with a substitute  certificate,  not bearing such
legend at such  time as such  legend is no  longer  applicable.  Each  Purchaser

                                      -11-
<PAGE>

agrees that, in  connection  with any transfer of the  Conversion  Shares or the
Warrant Shares by it pursuant to an effective  registration  statement under the
Securities  Act,  such  Purchaser  will  comply  with  all  prospectus  delivery
requirements  of the  Securities  Act.  The  Company  makes  no  representation,
warranty or agreement as to the availability of any exemption from  registration
under the Securities  Act with respect to any resale of the Series A Stock,  the
Warrants,  the Conversion  Shares or the Warrant Shares.  (c) Each Purchaser and
MAG is an "accredited  investor" within the meaning of Rule 501(a) of Regulation
D under the Securities Act. Neither Purchaser nor MAG learned of the opportunity
to acquire  Securities or any other security issuable by the Company through any
form of general advertising or public solicitation.

                  (d) Each  Purchaser  and MAG  represents  and  warrants to the
Company that it has such  knowledge,  sophistication  and experience in business
and financial  matters so as to be capable of evaluating the merits and risks of
the  prospective  investment  in the  Securities,  having  been  represented  by
counsel,  and has so evaluated  the merits and risks of such  investment  and is
able to bear the economic risk of such  investment  and, at the present time, is
able to afford a complete loss of such investment.

                  (e) Each Purchaser represents and warrants to the Company that
(i) the  purchase  of the  Securities  to be  purchased  by it has been duly and
properly  authorized  and this Agreement has been duly executed and delivered by
it or on its behalf and constitutes the valid and legally binding  obligation of
the Purchaser,  enforceable  against the Purchaser in accordance with its terms,
subject  to  bankruptcy,   insolvency,   fraudulent  transfer,   reorganization,
moratorium  and similar laws of general  applicability  relating to or affecting
creditors'  rights  generally  and to general  principles  of  equity;  (ii) the
purchase of the  Securities  to be  purchased  by it does not  conflict  with or
violate its charter, by-laws or any law, regulation or court order applicable to
it; and (iii) the  purchase of the  Securities  to be  purchased  by it does not
impose any penalty or other onerous condition on the Purchaser under or pursuant
to any applicable law or governmental regulation.

                  (f) Each  Purchaser  and MAG  represents  and  warrants to the
Company that neither it nor any of its directors,  officers,  employees, agents,
partners,  members,  or controlling persons has taken, or will take, directly or
indirectly,  any actions  designed,  or might reasonably be expected to cause or
result in the stabilization or manipulation of the price of the Common Stock.

                  (g)   Each   Purchaser   and  MAG   acknowledges   it  or  its
representatives  have reviewed the Disclosure Documents and further acknowledges
that it or its  representatives  have been afforded (i) the  opportunity  to ask
such  questions  as it has deemed  necessary  of, and to receive  answers  from,
representatives  of the  Company  concerning  the  terms and  conditions  of the
offering  of the  Securities  and the  merits  and  risks  of  investing  in the
Securities;  (ii) access to  information  about the  Company  and the  Company's
financial condition, results of operations, business, properties, management and
prospects  sufficient to enable it to evaluate its investment in the Securities;
and (iii)  the  opportunity  to obtain  such  additional  information  which the

                                      -12-
<PAGE>

Company possesses or can acquire without  unreasonable effort or expense that is
necessary to verify the accuracy and  completeness of the information  contained
in the Disclosure Documents.

                  (h) Each  Purchaser  and MAG  represents  and  warrants to the
Company that it has based its investment  decision  solely upon the  information
contained in the  Disclosure  Documents and such other  information  as may have
been provided to it or its  representatives  by the Company in response to their
inquiries,  and has not based its  investment  decision on any research or other
report  regarding  the  Company  prepared  by  any  third  party  ("THIRD  PARTY
REPORTS"). Each Purchaser understands and acknowledges that (i) the Company does
not  endorse  any Third  Party  Reports  and (ii) its actual  results may differ
materially from those projected in any Third Party Report.

                  (i) Each Purchaser and MAG understands and  acknowledges  that
(i)  any  forward-looking  information  included  in  the  Disclosure  Documents
supplied to Purchaser by the Company or its  management  is subject to risks and
uncertainties,  including  those  risks  and  uncertainties  set  forth  in  the
Disclosure  Documents;   and  (ii)  the  Company's  actual  results  may  differ
materially  from  those  projected  by the  Company  or its  management  in such
forward-looking information.

                  (j) Each Purchaser and MAG understands and  acknowledges  that
(i)  the  Securities  are  offered  and  sold  without  registration  under  the
Securities  Act in a  private  placement  that is exempt  from the  registration
provisions of the  Securities  Act and (ii) the  availability  of such exemption
depends in part on, and that the  Company and its  counsel  will rely upon,  the
accuracy and truthfulness of the foregoing  representations and Purchaser hereby
consents to such reliance.

         7. Covenants of Purchasers Not to Short Stock. Purchasers, on behalf of
themselves and their  affiliates,  hereby covenant and agree not to, directly or
indirectly,  offer to "short sell", contract to "short sell" or otherwise "short
sell" the securities of the Company,  including,  without limitation,  shares of
Common Stock that will be received as a result of the conversion of the Series A
Stock or the exercise of the Warrants.

         8. Termination.

                  (a) This Agreement may be terminated in the sole discretion of
the Company by notice to each Purchaser if at the Closing Date:

                           (i) the  representations  and warranties  made by any
Purchaser in Section 6 are not true and correct in all material respects; or

                           (ii) as to the  Company,  the sale of the  Securities
hereunder (i) is prohibited or enjoined by any  applicable  law or  governmental
regulation  or (ii)  subjects the Company to any penalty,  or in its  reasonable
judgment,  other onerous  condition  under or pursuant to any  applicable law or
government  regulation that would materially  reduce the benefits to the Company
of the sale of the Securities to such Purchaser, so long as such regulation, law
or  onerous  condition  was  not in  effect  in such  form  at the  date of this
Agreement.

                                      -13-
<PAGE>

                  (b) This  Agreement  may be terminated by any Purchaser or MAG
by notice to the Company  given in the event that the Company shall have failed,
refused or been  unable to satisfy  all  material  conditions  on its part to be
performed or satisfied  hereunder on or prior to the Closing  Date,  or if after
the  execution  and  delivery of this  Agreement  and  immediately  prior to the
Closing Date, trading in securities of the Company on the OTC BB shall have been
suspended.

                  (c) This Agreement may be terminated by mutual written consent
of all parties.

         9.  Registration.  Within 30 days after the Closing  Date,  the Company
shall prepare and file with the SEC a Registration Statement covering the resale
of the maximum  number of  Conversion  Shares  issuable  upon  conversion of the
Series  A  Stock  and  the  Warrant  Shares   (collectively,   the  "REGISTRABLE
SECURITIES"),  as set forth in the Registration Rights Agreement attached hereto
as  Exhibit  D.  Within  120 days  after the  Closing  Date , such  Registration
Statement must be declared effective by the SEC.

         10. Event of Default.  If an Event of Default (as defined below) occurs
and remains  uncured for a period of 5 days,  the  Purchasers and MAG shall have
the right to exercise any or all of the rights given to the  Purchasers  and MAG
relating  to  the  Securities,  as  further  described  in  the  Certificate  of
Designations.  In addition,  the price at which the shares of Series A Stock may
be converted into Common Stock shall be reduced from 80% of the Market Price (as
defined in the Certificate of Designations) to 70% of the Market Price,  subject
to the  Ceiling  Price  and  Floor  Price  as those  terms  are  defined  in the
Certificate of Designations.

         The  Holder  need  not  provide  and  the  Company  hereby  waives  any
presentment,  demand,  protest or other  notice of any kind,  and the Holder may
immediately  and without  expiration of any grace period  enforce any and all of
its rights and remedies  hereunder and all other remedies  available to it under
applicable law. Such  declaration may be rescinded and annulled by Holder at any
time prior to payment  hereunder.  No such  rescission or annulment shall affect
any subsequent Event of Default or impair any right consequent thereon.

         An "EVENT OF DEFAULT" shall include the  commencement by the Company of
a  voluntary  case or  proceeding  under the  bankruptcy  laws or the  Company's
failure to: (i) discharge or stay a bankruptcy proceeding within 60 days of such
action being taken  against the Company,  (ii) file the  Registration  Statement
with the SEC within 30 days after the Closing Date,  (iii) have the Registration
Statement  deemed  effective by the SEC within 120 days after the Closing  Date;
(iv) maintain trading of the Company's Common Stock on the OTC BB except for any
periods  when the stock is listed on the NASDAQ Small Stock  Market,  the NASDAQ
National Stock Market,  the AMEX or the NYSE,  (v) pay the expenses  referred to
below or the Due Diligence Fee within three (3) days after the Closing;  or (vi)
deliver to Purchasers,  or Purchasers'  broker,  as directed,  Common Stock that
Purchasers have converted within three (3) business days of such conversions.

IN THE EVENT THAT THE COMPANY FAILS TO FILE THE REGISTRATION  STATEMENT WITH THE
SEC  WITHIN 30 DAYS  AFTER THE  CLOSING  DATE,  AS A REMEDY FOR SUCH AN EVENT OF

                                      -14-
<PAGE>

DEFAULT,  COMPANY SHALL PAY TO  PURCHASERS,  IN CASH,  ONE THOUSAND FOUR HUNDRED
SIXTY-SIX  DOLLARS ($1,466) FOR EACH DAY THAT THE REGISTRATION  STATEMENT FILING
IS DELAYED. PURCHASERS AND COMPANY ACKNOWLEDGE AND AGREE THAT THEY HAVE MUTUALLY
DISCUSSED THE IMPRACTICALITY AND EXTREME DIFFICULTY OF FIXING THE ACTUAL DAMAGES
PURCHASERS  WOULD INCUR IN THE CASE OF SUCH AN EVENT OF  DEFAULT,  AND THAT AS A
RESULT OF SUCH  DISCUSSION  THE PARTIES  AGREE THAT $1,466 FOR EACH DAY THAT THE
REGISTRATION STATEMENT FILING IS DELAYED REPRESENTS A REASONABLE ESTIMATE OF THE
ACTUAL  DAMAGES  WHICH  PURCHASERS  WOULD  INCUR IN THE CASE OF SUCH AN EVENT OF
DEFAULT.  BY  SIGNING  IN  THE  SPACES  WHICH  FOLLOW,  PURCHASERS  AND  COMPANY
SPECIFICALLY  AND EXPRESSLY  AGREE TO ABIDE BY THE TERMS AND  PROVISIONS OF THIS
PARAGRAPH CONCERNING LIQUIDATED DAMAGES.

Purchasers:                                      Company:
Mercator Momentum Fund, LP                       Invisa, Inc.
a California limited partnership                 a Nevada corporation
By:      Mercator Advisory Group LLC
Its:     General Partner
                                                 By:  /s/ Herbert M. Lustig
         /s/ David Firestone                        ----------------------------
------------------------------------                      Herbert M. Lustig
             David Firestone                              President & CEO
         Managing Member
                                                 Monarch Pointe Fund, Ltd.,
                                                 a BVI Company

                                                 /s/ David Firestone
                                                 -------------------------------
                                                 By:      David Firestone
                                                 Its:     President

11. Notices. All communications  hereunder shall be in writing and shall be hand
delivered,  mailed by first-class mail,  couriered by next-day air courier or by
facsimile and  confirmed in writing (i) if to the Company,  at the addresses set
forth below, or (ii) if to a Purchaser or MAG, to the address set forth for such
party on the signature page hereto.

If to the Company:

Invisa, Inc.
4400 Independence Court
Sarasota, Florida 34234
Attention:  Herb Lustig, President
Telephone:  941-355-9361
Facsimile:  941-355-9373

                                      -15-
<PAGE>

with a copy to:

Barry I. Grossman, Esq.
Ellenoff Grossman & Schole LLP
370 Lexington Avenue
New York, NY  10017
Business: +1 (212) 370-1300
Business Fax: +1 (212) 370-7889

         All such notices and  communications  shall be deemed to have been duly
given: (i) when delivered by hand, if personally  delivered;  (ii) five business
days after being deposited in the mail,  postage  prepaid,  if mailed  certified
mail,  return  receipt  requested;  (iii) one  business  day after being  timely
delivered to a next-day air courier  guaranteeing  overnight delivery;  (iv) the
date of transmission if sent via facsimile to the facsimile  number as set forth
in this  Section or the  signature  page hereof prior to 6:00 p.m. on a business
day followed by overnight  delivery,  or (v) the business day following the date
of  transmission  if sent via facsimile at a facsimile  number set forth in this
Section or on the signature page hereof after 6:00 p.m. or on a date that is not
a  business  day.  Change  of a  party's  address  or  facsimile  number  may be
designated  hereunder  by giving  notice to all of the other  parties  hereto in
accordance with this Section.

         12.  Survival  Clause.  The  respective  representations,   warranties,
agreements  and  covenants of the Company and the  Purchasers  set forth in this
Agreement shall survive until the first anniversary of the Closing.

         13. Fees and  Expenses.  Within three (3) days of Closing,  the Company
agrees  to pay  Purchasers'  legal  expenses  incurred  in  connection  with the
preparation and  negotiation of the Transaction  Documents of $10,000 The $5,000
paid by Company upon  execution of the Term Sheet will be credited  against this
amount.

         14.  If any  action  at law or in equity is  necessary  to  enforce  or
interpret  the terms of this  Agreement,  the  Warrants  or the  Certificate  of
Designations,  the prevailing party or parties shall be entitled to receive from
the other  party or parties  reasonable  attorneys'  fees,  costs and  necessary
disbursements  in addition to any other relief to which the prevailing  party or
parties may be entitled.

         15.  Successors.  This  Agreement  shall inure to the benefit of and be
binding upon Purchasers, MAG and the Company and their respective successors and
legal  representatives,  and nothing expressed or mentioned in this Agreement is
intended or shall be  construed  to give any other person any legal or equitable
right, remedy or claim under or in respect of this Agreement,  or any provisions
herein contained;  this Agreement and all conditions and provisions hereof being
intended to be and being for the sole and exclusive  benefit of such persons and
for the benefit of no other  person.  Neither the Company nor any  Purchaser may
assign this  Agreement or any rights or obligation  hereunder  without the prior
written consent of the other party.

                                      -16-
<PAGE>

         16. No Waiver;  Modifications  in  Writing.  No failure or delay on the
part of the Company,  MAG or any  Purchaser in  exercising  any right,  power or
remedy  hereunder  shall  operate as a waiver  thereof,  nor shall any single or
partial  exercise  of any such  right,  power or  remedy  preclude  any other or
further  exercise  thereof or the exercise of any other right,  power or remedy.
The remedies  provided for herein are  cumulative  and are not  exclusive of any
remedies that may be available to the Company, MAG or any Purchaser at law or in
equity or  otherwise.  No waiver of or consent to any  departure by the Company,
MAG or any  Purchaser  from any provision of this  Agreement  shall be effective
unless signed in writing by the party entitled to the benefit thereof,  provided
that notice of any such waiver  shall be given to each party hereto as set forth
below.  Except as otherwise  provided  herein,  no  amendment,  modification  or
termination of any provision of this Agreement shall be effective  unless signed
in writing by or on behalf of each of the Company,  MAG and the Purchasers.  Any
amendment,  supplement or modification of or to any provision of this Agreement,
any waiver of any provision of this Agreement,  and any consent to any departure
by the Company,  MAG or any  Purchaser  from the terms of any  provision of this
Agreement shall be effective only in the specific  instance and for the specific
purpose for which made or given. Except where notice is specifically required by
this Agreement,  no notice to or demand on the Company in any case shall entitle
the  Company  to any other or  further  notice or  demand  in  similar  or other
circumstances.

         17.  Entire  Agreement.  This  Agreement,   together  with  Transaction
Documents,  constitutes  the  entire  agreement  among the  parties  hereto  and
supersedes  all  prior  agreements,  understandings  and  arrangements,  oral or
written,  among the parties hereto with respect to the subject matter hereof and
thereof.

         18.  Severability.  If any  provision  of this  Agreement is held to be
invalid or unenforceable in any respect,  the validity and enforceability of the
remaining  terms  and  provisions  of  this  Agreement  shall  not in any way be
affected or impaired thereby.

         19. APPLICABLE LAW. THE VALIDITY AND  INTERPRETATION OF THIS AGREEMENT,
AND THE TERMS AND CONDITIONS SET FORTH HEREIN SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO
PROVISIONS  RELATING TO  CONFLICTS OF LAW TO THE EXTENT THE  APPLICATION  OF THE
LAWS OF ANOTHER  JURISDICTION  WOULD BE REQUIRED  THEREBY.  THE  PARTIES  HEREBY
IRREVOCABLY AND UNCONDITIONALLY AGREE THAT ACTIONS, SUITS OR PROCEEDINGS ARISING
OUT OF OR RELATING  TO THIS  AGREEMENT  MAY BE BROUGHT  ONLY IN STATE OR FEDERAL
COURTS  LOCATED IN THE CITY OF LOS ANGELES,  CALIFORNIA AND HEREBY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF SUCH COURTS FOR SUCH PURPOSE.

         20.  Counterparts.  This  Agreement  may be  executed  in  two or  more
counterparts and may be delivered by facsimile transmission, each of which shall
be deemed an original,  but all of which together  shall  constitute one and the
same instrument.

                                      -17-
<PAGE>

         21. If the foregoing  correctly  sets forth our  understanding,  please
indicate your  acceptance  thereof in the space provided below for that purpose,
whereupon this Agreement shall constitute a binding agreement among the Company,
the Purchasers and MAG.

Very truly yours,
INVISA, INC.

By:         /s/ Herbert M. Lustig
         ------------------------------
Name:       Herbert M. Lustig
         ------------------------------
Title:         President
         ------------------------------

                                      -18-
<PAGE>

ACCEPTED AND AGREED:

MERCATOR MOMENTUM FUND, LP                          MONARCH POINTE FUND, LTD.
By:      Mercator Advisory Group LLC
Its:     General Partner

          /s/ David Firestone                       By:    /s/ David Firestone
------------------------------------                    -----------------------
          David Firestone                                  David Firestone
          Managing Member                           Its:   President

MERCATOR ADVISORY GROUP, LLC

By:       /s/ David Firestone
------------------------------------
          David Firestone
          Managing Member

<TABLE>
<CAPTION>
--------------------- ------------------------ ----------------------- ------------------------ ------------------
                         MERCATOR MOMENTUM         MONARCH POINTE         MERCATOR ADVISORY
                             FUND, LP                FUND, LTD.              GROUP, LLC                 TOTAL
--------------------- ------------------------ ----------------------- ------------------------ ------------------
<S>                         <C>                     <C>                         <C>                <C>
PURCHASE PRICE              $ 735,000               $ 1,465,000                     --             $   2,200,000
--------------------- ------------------------ ----------------------- ------------------------ ------------------
PREFERRED SHARES                7,350                    14,650                     --                    22,000
--------------------- ------------------------ ----------------------- ------------------------ ------------------
WARRANTS                      250,568                   499,432                 750,000                1,500,000
--------------------- ------------------------ ----------------------- ------------------------ ------------------
</TABLE>

                                    Addresses for Notice to Purchasers and MAG:

                                    Mercator Advisory Group, LLC
                                    555 South Flower Street, Suite 4500
                                    Los Angeles, California 90071
                                    Attention:  David Firestone
                                    Facsimile:  (213) 533-8285

                                    with copy to:

                                    David C. Ulich, Esq.
                                    Sheppard, Mullin, Richter & Hampton LLP
                                    333 South Hope Street, 48th Floor
                                    Los Angeles, California 90071
                                    Facsimile: (213) 620-1398

                                      -19-EXHIBIT 10.93

                          REGISTRATION RIGHTS AGREEMENT

         AGREEMENT dated as of August 16, 2004,  between MERCATOR MOMENTUM FUND,
L.P.,  MONARCH  POINTE  FUND,  LTD.  (collectively,  the  "Funds")  and MERCATOR
ADVISORY GROUP, LLC ("MAG") (the Funds and MAG are referred to individually as a
"Holder" and  collectively  as the "Holders"),  and Invisa a Nevada  corporation
(the "Company").

         WHEREAS,  the Funds have  purchased,  for an aggregate of $2,200,000 an
aggregate of 22,000 shares of Series A Convertible  Preferred Stock (the "Series
A Stock") from the Company,  and have the right to cause their Series A Stock to
be converted into shares of Common Stock,  $.001 par value (the "Common Stock"),
of the Company,  pursuant to the conversion formula set forth in the Certificate
of Designations;

         WHEREAS,  each  Fund  and MAG have  acquired  Warrants  (together,  the
"Warrants")  from the  Company,  pursuant to which the Holders have the right to
purchase in the aggregate up to 1,500,000 shares of the Common Stock through the
exercise of the Warrants;

         WHEREAS,  the Company desires to grant to the Holders the  registration
rights set forth herein with respect to the shares of Common Stock issuable upon
the conversion of the Series A Stock and the exercise of the Warrants.

         NOW, THEREFORE, the parties hereto mutually agree as follows:

         1.  REGISTRABLE  SECURITIES.  As used  herein  the  terms  "Registrable
Security"  means  each of the  shares  of  Common  Stock  (i)  issued  upon  the
conversion of the Series A Stock (the "Conversion Shares") or (ii) upon exercise
of the Warrants (the "Warrant Shares"),  provided, however, that with respect to
any  particular  Registrable  Security,  such  security  shall  cease  to  be  a
Registrable  Security when, as of the date of determination that (a) it has been
effectively  registered  under  the  Securities  Act of 1933,  as  amended  (the
"Securities  Act"), and disposed of pursuant thereto,  or (b) registration under
the Securities Act is no longer required for the immediate  public  distribution
of such security. The term "Registrable  Securities" means any and/or all of the
securities falling within the foregoing definition of a "Registrable  Security."
In the event of any merger, reorganization,  consolidation,  recapitalization or
other change in corporate  structure affecting the Common Stock, such adjustment
shall be made in the definition of  "Registrable  Security" as is appropriate in
order to prevent any dilution or enlargement  of the rights granted  pursuant to
this Section 1.

         2. REGISTRATION.

                  (a) The  Company  shall  file a  registration  statement  (the
"Registration  Statement")  with the  Securities  and Exchange  Commission  (the
"SEC")  within  thirty  (30) days after the date of this  Agreement  in order to
register the resale of the Registrable Securities under the Securities Act. Once
effective,  the Company shall  maintain the  effectiveness  of the  Registration
Statement  until  the  earlier  of (i)  the  date  that  all of the  Registrable
Securities have been sold, or (ii) the date that the Company receives an opinion
of counsel to the Company that all of the  Registrable  Securities may be freely

<PAGE>

traded without registration under the Securities Act, under Rule 144 promulgated
under the Securities Act or otherwise.

                  (b) The Company  will  initially  include in the  Registration
Statement  as  Registrable   Securities  Five  Million  Nine  Hundred   Thousand
(5,900,000) shares of Common Stock.

         3. COVENANTS OF THE COMPANY WITH RESPECT TO REGISTRATION.

         The Company covenants and agrees as follows:

                  (a)  The  Company   shall  use  best   efforts  to  cause  the
Registration  Statement to become effective with the SEC as promptly as possible
and in no event more than 120 days after the date of this Agreement. If any stop
order shall be issued by the SEC in connection therewith,  the Company shall use
best  efforts to obtain  promptly  the  removal  of such  order.  Following  the
effective  date of the  Registration  Statement,  the  Company  shall,  upon the
request of any Holder,  forthwith supply such reasonable number of copies of the
Registration  Statement,  preliminary  prospectus  and  prospectus  meeting  the
requirements  of the  Securities  Act,  and any  other  documents  necessary  or
incidental to the public  offering of the  Registrable  Securities,  as shall be
reasonably  requested  by the  Holder  to  permit  the  Holder  to make a public
distribution  of the Holder's  Registrable  Securities.  The  obligations of the
Company  hereunder  with  respect to the  Holder's  Registrable  Securities  are
subject to the Holder's  furnishing to the Company such appropriate  information
concerning the Holder, the Holder's Registrable  Securities and the terms of the
Holder's  offering of such Registrable  Securities as the Company may reasonably
request in writing.

                  (b) The  Company  shall pay all costs,  fees and  expenses  in
connection  with the  Registration  Statement filed pursuant to Section 2 hereof
including, without limitation, the Company's legal and accounting fees, printing
expenses,  and blue sky fees and expenses;  provided,  however, that each Holder
shall be solely  responsible for the fees of any counsel  retained by the Holder
in connection  with such  registration  and any transfer  taxes or  underwriting
discounts,  commissions or fees applicable to the Registrable Securities sold by
the Holder pursuant thereto.

                  (c) The Company will take all actions which may be required to
qualify or register  the  Registrable  Securities  included in the  Registration
Statement  for the offer and sale under the  securities or blue sky laws of such
states as are reasonably  requested by each Holder of such securities,  provided
that the Company  shall not be obligated to execute or file any general  consent
to service of process  or to  qualify as a foreign  corporation  to do  business
under the laws of any such jurisdiction.

         4. ADDITIONAL TERMS.

                  (a) The Company shall  indemnify and hold harmless the Holders
and each underwriter, within the meaning of the Securities Act, who may purchase
from or sell for any Holder,  any Registrable  Securities,  from and against any
and all losses,  claims,  damages and liabilities caused by any untrue statement
of  a  material  fact  contained  in  the  Registration  Statement,   any  other
registration  statement  filed by the  Company  under  the  Securities  Act with

                                      -2-
<PAGE>

respect to the registration of the Registrable  Securities,  any  post-effective
amendment to such registration statements, or any prospectus included therein or
caused by any omission to state  therein a material  fact  required to be stated
therein or  necessary  to make the  statements  therein not  misleading,  except
insofar as such losses,  claims,  damages or liabilities  are caused by any such
untrue statement or omission based upon information  furnished or required to be
furnished in writing to the Company by the Holders or underwriter  expressly for
use therein,  which  indemnification  shall  include  each  person,  if any, who
controls any Holder or underwriter  within the meaning of the Securities Act and
each  officer,  director,  employee  and agent of each  Holder and  underwriter;
provided, however, that the indemnification in this Section 4(a) with respect to
any prospectus  shall not inure to the benefit of any Holder or underwriter  (or
to the benefit of any person  controlling  any Holder or underwriter) on account
of any  such  loss,  claim,  damage  or  liability  arising  from  the  sale  of
Registrable  Securities by the Holder or underwriter,  if a copy of a subsequent
prospectus   correcting  the  untrue  statement  or  omission  in  such  earlier
prospectus  was provided to such Holder or  underwriter  by the Company prior to
the subject sale and the subsequent  prospectus was not delivered or sent by the
Holder or underwriter to the purchaser prior to such sale and provided  further,
that the Company  shall not be obligated to so indemnify  any Holder or any such
underwriter  or other person  referred to above unless the Holder or underwriter
or other  person,  as the case may be,  shall  at the same  time  indemnify  the
Company, its directors, each officer signing the Registration Statement and each
person,  if any, who controls the Company  within the meaning of the  Securities
Act, from and against any and all losses, claims, damages and liabilities caused
by any  untrue  statement  of a  material  fact  contained  in the  Registration
Statement,  any registration statement or any prospectus required to be filed or
furnished by reason of this Agreement or caused by any omission to state therein
a  material  fact  required  to be  stated  therein  or  necessary  to make  the
statements therein not misleading,  insofar as such losses,  claims,  damages or
liabilities  are  caused  by  any  untrue   statement  or  omission  based  upon
information  furnished  in writing to the  Company by the Holder or  underwriter
expressly for use therein.

                  (b) If for any reason the indemnification  provided for in the
preceding section is held by a court of competent jurisdiction to be unavailable
to an indemnified  party with respect to any loss, claim,  damage,  liability or
expense  referred  to  therein,   then  the  indemnifying   party,  in  lieu  of
indemnifying such indemnified  party thereunder,  shall contribute to the amount
paid or payable by the indemnified party as a result of such loss, claim, damage
or liability in such  proportion as is appropriate to reflect the relative fault
of the  indemnified  party  and the  indemnifying  party,  as well as any  other
relevant equitable considerations.

                  (c)  Neither  the filing of a  Registration  Statement  by the
Company   pursuant  to  this  Agreement  nor  the  making  of  any  request  for
prospectuses  by the Holder shall impose upon any Holder any  obligation to sell
the Holder's Registrable Securities.

                  (d) Each Holder,  upon receipt of notice from the Company that
an  event  has  occurred  which  requires  a  Post-Effective  Amendment  to  the
Registration Statement or a supplement to the prospectus included therein, shall
promptly  discontinue  the  sale of  Registrable  Securities  until  the  Holder
receives a copy of a supplemented or amended prospectus from the Company,  which
the Company shall provide as soon as practicable after such notice.

                                      -3-
<PAGE>

                  (e) If the Company  fails to keep the  Registration  Statement
referred to above continuously  effective during the requisite period,  then the
Company  shall,  promptly  upon the request of any Holder,  use best  efforts to
update the Registration  Statement or file a new registration statement covering
the Registrable Securities remaining unsold, subject to the terms and provisions
hereof.

(f)  Each  Holder  agrees  to  provide  the  Company  with  any  information  or
undertakings  reasonably  requested  by the  Company in order for the Company to
include any appropriate  information  concerning the Holder in the  Registration
Statement  or in order to promote  compliance  by the Company or the Holder with
the Securities Act.

                  (g)  The  Company  agrees  that  it  shall  cause  each of its
shareholders  owning  ten  percent  (10%) or more of the  Company's  outstanding
Common Stock to refrain from  selling any shares of the  Company's  Common Stock
until the Registration  Statement has been declared effective The Company agrees
that it shall  cause each of its  directors  and  officers  to execute a lock-up
agreement  providing  that (i) for a period of 6 months  after the date  hereof,
such  officers and directors  shall not sell in the  aggregate  more than 20,000
shares of Common Stock  during any 30 day period,  and (ii) for months 7 through
12 after the date  hereof,  they shall not  individually  sell more than  20,000
shares of Common Stock during any 30 day period.

                  (h) Each  Holder,  on  behalf of  itself  and its  affiliates,
hereby  covenants  and agrees not to,  directly or  indirectly,  offer to "short
sell",  contract to "short sell" or otherwise "short sell" any securities of the
Company,  including,  without  limitation,  shares of Common  Stock that will be
received as a result of the  conversion of the Series A Stock or the exercise of
the Warrants.

         5.  GOVERNING  LAW.  The  Registrable  Securities  will be, if and when
issued,  delivered in California.  This  Agreement  shall be deemed to have been
made and  delivered  in the  State of  California  and shall be  governed  as to
validity, interpretation,  construction, effect and in all other respects by the
internal  substantive laws of the State of California,  without giving effect to
the choice of law rules thereof.

         6.  AMENDMENT.  This  Agreement  may  only  be  amended  by  a  written
instrument executed by the Company and the Holders.

         7. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement of
the parties hereto with respect to the subject matter hereof, and supersedes all
prior  agreements  and  understandings  of the parties,  oral and written,  with
respect to the subject matter hereof.

         8. EXECUTION IN COUNTERPARTS.  This Agreement may be executed in one or
more counterparts,  each of which shall be deemed an original,  but all of which
together shall constitute one and the same document.

         9. NOTICES. All communications  hereunder shall be in writing and shall
be hand delivered, mailed by first-class mail, couriered by next-day air courier
or by facsimile at the addresses set forth below.

                                      -4-
<PAGE>

               If to the Holders,   Mercator Advisory Group, LLC
                                    Mercator Momentum Fund, L.P.
                                    Monarch Pointe Fund, Ltd.
                                    555 South Flower Street, Suite 4500
                                    Los Angeles, CA  90071
                                    Attention: David Firestone

               With a copy to       Sheppard Mullin Richter & Hampton LLP
                                    333 South Hope Street
                                    48th Floor
                                    Los Angeles, CA 90071-1448
                                    Telephone No.: (213) 620-1780
                                    Facsimile No.:  (213) 620-1398
                                    Attention:        David C. Ulich

               If to the Company:
                                    Invisa, Inc.
                                    4400 Independence Court
                                    Sarasota, Florida 34234
                                    Attention:  Herb Lustig
                                    Telephone:  941-355-9361
                                    Facsimile:   941-355-9373
               with a copy to:
                                    Barry I. Grossman, Esq.
                                    Ellenoff Grossman & Schole LLP
                                    370 Lexington Avenue
                                    New York, NY  10017
                                    Business: +1 (212) 370-1300
                                    Business Fax: +1 (212) 370-7889

All such notices and communications shall be deemed to have been duly given: (i)
when delivered by hand, if personally  delivered;  (ii) five business days after
being deposited in the mail,  postage prepaid,  if mailed certified mail, return
receipt  requested;  (iii) one business  day after being  timely  delivered to a
next-day  air  courier  guaranteeing  overnight  delivery;   (iv)  the  date  of
transmission if sent via facsimile to the facsimile  number as set forth in this
Section or the  signature  page hereof prior to 4:00 p.m. on a business  day, or
(v) the business day following the date of transmission if sent via facsimile at
a facsimile  number set forth in this  Section or on the  signature  page hereof
after  4:00 p.m.  or on a date that is not a business  day.  Change of a party's
address or facsimile number may be designated  hereunder by giving notice to all
of the other parties hereto in accordance with this Section.

         10.  BINDING  EFFECT;  BENEFITS.  Any  Holder  may  assign  its  rights
hereunder.  This  Agreement  shall inure to the benefit of, and be binding upon,
the parties hereto and their respective heirs, legal representatives, successors
and assigns. Nothing herein contained, express or implied, is intended to confer
upon any person other than the parties hereto and their respective heirs,  legal
representatives  and  successors,  any rights or remedies  under or by reason of
this Agreement.

                                      -5-
<PAGE>

         11. HEADINGS. The headings contained herein are for the sole purpose of
convenience  of reference,  and shall not in any way limit or affect the meaning
or interpretation of any of the terms or provisions of this Agreement.

         12.  SEVERABILITY.  Any provision of this Agreement  which is held by a
court  of  competent  jurisdiction  to be  prohibited  or  unenforceable  in any
jurisdiction(s) shall be, as to such jurisdiction(s),  ineffective to the extent
of such  prohibition  or  unenforceability  without  invalidating  the remaining
provisions of this Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction.

         13.  JURISDICTION.  Each of the parties irrevocably agrees that any and
all suits or proceedings based on or arising under this Agreement may be brought
only in and shall be resolved in the federal or state courts located in the City
of Los Angeles,  California and consents to the  jurisdiction of such courts for
such  purpose.  Each  of  the  parties  irrevocably  waives  the  defense  of an
inconvenient  forum to the  maintenance  of such suit or  proceeding in any such
court.  Each of the parties  further  agrees that  service of process  upon such
party  mailed by first class mail to the address set forth in Section 9 shall be
deemed in every respect effective service of process upon such party in any such
suit or  proceeding.  Nothing  herein  shall affect the right of either party to
serve process in any other manner  permitted by law. Each of the parties  agrees
that a final  non-appealable  judgment in any such suit or  proceeding  shall be
conclusive and may be enforced in other  jurisdictions  by suit on such judgment
or in any other lawful manner.

         14.  ATTORNEYS'  FEES AND  DISBURSEMENTS.  If any  action  at law or in
equity is  necessary to enforce or interpret  the terms of this  Agreement,  the
prevailing party or parties shall be entitled to receive from the other party or
parties  reasonable  attorneys' fees and  disbursements in addition to any other
relief to which the prevailing party or parties may be entitled.

             [The balance of this page is intentionally left blank.]

                                      -6-
<PAGE>

         IN WITNESS  WHEREOF,  this Agreement has been executed and delivered by
the parties hereto as of the date first above written.

                                           INVISA, INC.

                                           By:    /s/ Herbert M. Lustig
                                               ---------------------------------
                                           Name:  Herbert M. Lustig
                                                  ------------------------------
                                           Its:   President

                                           HOLDERS:

                                           MERCATOR MOMENTUM FUND, L.P.
                                           BY:  MERCATOR ADVISORY GROUP, LLC,
                                           ITS: GENERAL PARTNER

                                           By:    /s/ David Firestone
                                               ---------------------------------
                                           Name:  David Firestone
                                           Its:   Managing Member

                                           MONARCH POINTE FUND, LTD.

                                           By:    /s/ David Firestone
                                               ---------------------------------
                                           Name:  David Firestone
                                           Its:   President

                                           MERCATOR ADVISORY GROUP, LLC

                                           By:    /s/ David Firestone
                                               ---------------------------------
                                           Name:  David Firestone
                                           Its:   Managing Member

                                      -7-

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