Document:

Exhibit 10.14

                                    AMENDMENT
                        TO SECURITIES PURCHASE AGREEMENT

This AMENDMENT TO SECURITIES  PURCHASE  AGREEMENT  (this  "AMENDMENT"),  is made
effective as of June 30, 2006 (the  "EFFECTIVE  DATE"),  by and between  CORNELL
CAPITAL PARTNERS, LP, ("CORNELL"), HIGHGATE HOUSE FUNDS, LTD., ("HIGHGATE"), and
CITY NETWORK, INC., a Nevada corporation (the "COMPANY"),  with reference to the
following recitals:

A.  Cornell,  Highgate,  and the Company  entered into that  certain  Securities
Purchase Agreement, dated March 16, 2006 (the "MASTER AGREEMENT").

B.  Pursuant  to the  Master  Agreement,  the  Company  was to issue and sell to
Cornell, and Cornell was to purchase $650,000 of secured convertible debentures,
and the Company was to use $250,000 of the proceeds of such issuance and sale to
repay the aggregate principal amount of $250,000 on the Original Notes issued to
Highgate on August 17, 2005 and on December 16, 2005.

C. The parties  desire to amend the Master  Agreement  such that rather than the
Company's repaying the Original Notes, Highgate shall retain the Original Notes,
which shall be amended and re-issued in a  convertible  debenture in the form of
Exhibit A attached to the Master Agreement.

D. The  Company's  obligation  to issue  and sell and  Cornell's  obligation  to
purchase the  convertible  debentures  shall be reduced by $250,000,  the amount
which was going to be used to repay the Original Notes.

FOR GOOD AND VALUABLE  CONSIDERATION,  the receipt and  sufficiency  of which is
hereby acknowledged, Cornell, Highgate, and the Company agree as follows:

1. PURCHASE OF CONVERTIBLE  DEBENTURES.  Section 1(a) of the Master Agreement is
hereby amended and restated as follows:

     "PURCHASE  OF  CONVERTIBLE  DEBENTURES"  Subject  to the  satisfaction  (or
     waiver) of the terms and  conditions of this  Agreement,  Cornell agrees to
     purchase at the closing of the transactions  contemplated by this Agreement
     (the "Closing") and the Company agrees to sell and issue to Cornell, at the
     Closing,  Convertible  Debentures  in an amount equal to $400,000,  and the
     Company and Highgate  agree to amended and re-issued the Original  Notes in
     the form of the convertible debenture attached as Exhibit A hereto.

2.  CLOSING  DATE.  Section 1(b) of the Master  Agreement is hereby  amended and
restated as follows:

     "CLOSING  DATE" The  Closing of the  purchase  and sale of the  Convertible
     Debentures shall take place on June 30, 2006 (the "CLOSING DATE").

3. FORM OF PAYMENT.  Section 1(c) of the Master  Agreement is hereby amended and
restated as follows:

     "FORM OF PAYMENT"  Subject to the  satisfaction of the terms and conditions
     of this  Agreement,  on the Closing Date,  (i) Cornell shall deliver to the
     Company the aggregate proceeds for the Convertible  Debentures to be issued
     and sold Cornell in an amount equal to $400,000,  minus the fees to be paid
     directly from the gross  proceeds of the Closing as set forth herein,  (ii)
     the Company  shall  deliver to Cornell  the  Convertible  Debentures  which
     Cornell is  purchasing  in an amount  equal to $400,000,  duly  executed on
     behalf of the  Company,  (iii)  Highgate  shall  deliver to the Company the
     Original  Notes,  and  (iv) the  Company  shall  deliver  to  Highagte  the
     Convertible  Debentures for which Highgate is exchanging the Original Notes
     in an amount equal to $250,000.

4. INTEREST.  The Company shall pay to Highgate all accrued and unpaid  interest
on the Original Notes on the date hereof.

5. FEES AND EXPENSES.  Section 4(g)(i) of the Master Agreement is hereby amended
and restated as follows:

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     "FEES AND EXPENSES"  Each of the Company and the Buyers shall pay all costs
     and expenses  incurred by such party in  connection  with the  negotiation,
     investigation,  preparation,  execution  and  delivery  of the  Transaction
     Documents,  except the Company  shall pay a  structuring  fee to  Yorkville
     Advisors,  LLC of Ten Thousand  Dollars  ($10,000)  directly from the gross
     proceeds of the Closing.

6. FEES AND EXPENSES. Section 4(g)(ii) of the Master Agreement is hereby amended
and restated as follows:

     "FEES AND  EXPENSES"  The Company  shall pay  Yorkville  Advisors LLC a fee
     equal to Forty Thousand Dollars ($40,000) which shall be paid directly from
     the gross proceeds of the Closing.

7.  DEFINITIONS.  All  references  to "the Buyers" or "Each Buyer" in the Master
Agreement shall include Highgate. Capitalized terms not otherwise defined herein
shall have the meaning ascribed to them under the Master  Agreement,  and if not
defined in the Master  Agreement shall have the meaning  ascribed to them in the
Operating Agreement.

8. JOINDER. By executing and delivering this Amendment to the Company,  Highgate
hereby  acknowledge the terms of, and agree to be bound by, the Master Agreement
as a Buyer. The Company, by executing and delivering this Amendment, does hereby
acknowledge Highgate's rights as a Buyer under the Master Agreement.

9.  NON-IMPAIRMENT.  Except as expressly  modified herein,  the Master Agreement
shall continue in full force and effect,  and the parties  hereby  reinstate and
reaffirm the Master Agreement as modified herein.

10.  INCONSISTENCIES.  In the event of any inconsistency,  ambiguity or conflict
between the terms and  provisions of this Amendment and the terms and provisions
of the  Master  Agreement,  the terms and  provisions  of this  Amendment  shall
control.

11. COUNTERPARTS.  This Amendment may be executed in any number of counterparts,
each of which when executed  will be deemed an original and all of which,  taken
together, well be deemed to be one and the same instrument.

                   REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

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IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the
date first written above.

COMPANY:
CITY NETWORK, INC.

By: /s/ Alice Chen
   --------------------------------------
Name:  Alice Chen
Title: Chairman & Chief Executive Officer

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CORNELL CAPITAL PARTNERS, LP                   HIGHGATE HOUSE FUNDS, LTD.

By:  Yorkville Advisors, LLC                   By: /s/ Mark Angelo
Its: General Partner                              ------------------------------
                                               Name:  Mark Angelo
                                               Title: Portfolio Manager
By: /s/ Mark Angelo
   ----------------------------------
Name:  Mark Angelo
Title: Portfolio Manager

                                       4Exhibit 10.15

                     INVESTOR REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION  RIGHTS AGREEMENT (this  "AGREEMENT"),  dated as of March
13, 2006, by and among CITY NETWORK,  INC, a Nevada corporation (the "COMPANY"),
and the undersigned buyers listed on Schedule I attached hereto (each, a "BUYER"
and collectively, the "BUYERS").

     WHEREAS:

     A. In connection  with the Securities  Purchase  Agreement by and among the
parties hereto of even date herewith (the "SECURITIES PURCHASE AGREEMENT"),  the
Company  has  agreed,  upon the  terms  and  subject  to the  conditions  of the
Securities  Purchase  Agreement,  to  issue  and  sell  to  the  Buyers  secured
convertible debentures (the "CONVERTIBLE DEBENTURES") which shall be convertible
into that number of shares of the Company's  common stock,  par value $0.001 per
share (the "COMMON  STOCK"),  pursuant to the terms of the  Securities  Purchase
Agreement for an aggregate  purchase  price of up to Six Hundred Fifty  Thousand
Dollars ($650,000).  Capitalized terms not defined herein shall have the meaning
ascribed to them in the Securities Purchase Agreement.

     B. To induce the Buyers to execute  and  deliver  the  Securities  Purchase
Agreement,  the Company has agreed to provide certain  registration rights under
the  Securities  Act of 1933, as amended,  and the rules and  regulations  there
under, or any similar successor statute  (collectively,  the "SECURITIES  ACT"),
and applicable state securities laws.

     NOW,  THEREFORE,  in consideration of the premises and the mutual covenants
contained  herein and other good and  valuable  consideration,  the  receipt and
sufficiency of which are hereby acknowledged,  the Company and the Buyers hereby
agree as follows:

     1. DEFINITIONS.

     As used in this  Agreement,  the  following  terms shall have the following
meanings:

     (a)  "PERSON"  means  a  corporation,   a  limited  liability  company,  an
association,  a partnership,  an  organization,  a business,  an  individual,  a
governmental or political subdivision thereof or a governmental agency.

     (b) "REGISTER,"  "REGISTERED," and  "REGISTRATION"  refer to a registration
effected by preparing and filing one or more Registration Statements (as defined
below) in compliance  with the Securities Act and pursuant to Rule 415 under the
Securities  Act or any successor  rule  providing  for offering  securities on a
continuous  or delayed basis ("RULE 415"),  and the  declaration  or ordering of
effectiveness of such Registration  Statement(s) by the United States Securities
and Exchange Commission (the "SEC").

     (c) "REGISTRABLE  SECURITIES"  means the shares of Common Stock issuable to
the Buyers upon conversion of the Convertible  Debentures issued pursuant to the
Securities  Purchase  Agreement  and  the  Warrant  Shares  as  defined  in  the
Securities Purchase Agreement.
<PAGE>
     (d)  "REGISTRATION  STATEMENT"  means a  registration  statement  under the
Securities Act which covers the Registrable Securities.

     2. REGISTRATION.

     (a)  Subject to the terms and  conditions  of this  Agreement,  the Company
shall use  reasonable  commercial  efforts  to prepare  and file,  no later than
thirty  (30) days after the date the  Convertible  Debentures  are  issued  (the
"SCHEDULED FILING DEADLINE"),  with the SEC a registration statement on Form S-1
or SB-2 (or, if the Company is then eligible,  on Form S-3) under the Securities
Act (the "INITIAL  REGISTRATION  STATEMENT") for the resale by the Buyers of the
Registrable Securities the numbers of shares of Common Stock listed next to each
Buyer  on  SCHEDULE  II  attached  hereto.  The  Company  shall  use  reasonable
commercial efforts to cause the Registration Statement to remain effective until
all of the  Registrable  Securities  have been sold or until  each Buyer will be
able to sell all of its Registrable  Securities in a three-month period pursuant
to Rule  144  (as  defined  below).  Prior  to the  filing  of the  Registration
Statement  with  the  SEC,  the  Company  shall  furnish  a copy of the  Initial
Registration  Statement to the Buyers for their  review and comment.  The Buyers
shall  furnish  comments on the Initial  Registration  Statement  to the Company
within twenty-four (24) hours of the receipt thereof from the Company.

     (b) EFFECTIVENESS OF THE INITIAL REGISTRATION STATEMENT.  The Company shall
use  commercially  reasonable  efforts  (i) to  have  the  Initial  Registration
Statement declared effective by the SEC no later than ninety (90) days after the
date the Initial  Registration  Statement is filed with the SEC (the  "SCHEDULED
EFFECTIVE DEADLINE") and (ii) to insure that the Initial Registration  Statement
and any  subsequent  Registration  Statement  remains in effect until all of the
Registrable  Securities  have been sold,  subject to the terms and conditions of
this Agreement.

     (c) FAILURE TO FILE OR OBTAIN EFFECTIVENESS OF THE REGISTRATION  STATEMENT.
In the event the  Registration  Statement is not filed by the  Scheduled  Filing
Deadline  or is not  declared  effective  by the SEC on or before the  Scheduled
Effective  Date,  or if after  the  Registration  Statement  has  been  declared
effective  by the  SEC,  sales  cannot  be  made  pursuant  to the  Registration
Statement  (whether  because  of a failure  to keep the  Registration  Statement
effective,  failure to disclose such information as is necessary for sales to be
made  pursuant to the  Registration  Statement,  failure to register  sufficient
shares of Common Stock or otherwise)  then as partial  relief for the damages to
any holder of Registrable Securities by reason of any such delay in or reduction
of its ability to sell the underlying shares of Common Stock (which remedy shall
not be  exclusive of any other  remedies at law or in equity),  the Company will
pay as  liquidated  damages (the  "LIQUIDATED  DAMAGES")  to the holder,  at the
holder's option, either a cash amount or shares of the Company's Common Stock in
an amount equal to two percent (2%) of the liquidated  value of the  Convertible
Debentures  held by such  holder  for each  thirty  (30) day  period  after  the
Scheduled Filing Deadline,  the Scheduled Effective Date, or the first date that
sales cannot be made pursuant to the Registration Statement, as the case may be,
which shall be paid within three (3) business days after the  expiration of each
thirty  (30) day  period;  PROVIDED  that (i) in no event  shall the  Liquidated
Damages  exceed 20% of the aggregate face amount of the  Convertible  Debentures
and (ii) no  Liquidated  Damages shall be payable in the form of Common Stock to
the extent that the Total Transaction Shares issued shall be equal to or greater

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than 5,500,000 shares, until the holders of Common Stock approve the issuance of
the Total  Transaction  Shares.  "TOTAL  TRANSACTION  SHARES" shall mean, in the
aggregate, any shares of Common Stock issuable under the Convertible Debentures;
the  Pledge  and  Escrow  Agreement,  dated  the date  hereof,  by and among the
Company,  the Buyers and David  Gonzalez,  as escrow agent;  the Placement Agent
Agreement,  dated August 10, 2005, by and among the Company and Monitor Capital,
Inc.;  the  warrants to be issued to the Buyers by the  Company  pursuant to the
Securities Purchase Agreement; the warrant, dated August 17, 2005, issued by the
Company in favor of Cornell Capital Partners,  LP; and as Liquidated Damages (as
defined herein).

     (d) LIQUIDATED  DAMAGES.  The Company and the Buyers hereto acknowledge and
agree  that the sums  payable  under  subsection  2(c)  above  shall  constitute
liquidated  damages and not penalties and are in addition to all other rights of
the  Buyers,  including  the  right  to  call a  default.  The  parties  further
acknowledge  that (i) the amount of loss or  damages  likely to be  incurred  is
incapable or is difficult to precisely  estimate,  (ii) the amounts specified in
such  subsections  bear a  reasonable  relationship  to, and are not  plainly or
grossly  disproportionate  to,  the  probable  loss  likely  to be  incurred  in
connection   with  any  failure  by  the  Company  to  obtain  or  maintain  the
effectiveness  of a  Registration  Statement,  (iii) one of the  reasons for the
Company  and  the  Buyers  reaching  an  agreement  as to such  amounts  was the
uncertainty and cost of litigation regarding the question of actual damages, and
(iv) the Company and the Buyers are sophisticated business parties and have been
represented  by  sophisticated  and  able  legal  counsel  and  negotiated  this
Agreement at arm's length.

     3. RELATED OBLIGATIONS.

     (a) The Company shall keep the Registration Statement effective pursuant to
Rule 415 at all times until the date on which the Buyers shall have sold all the
Registrable  Securities  covered by such  Registration  Statement  or until each
Buyer will be able to sell all of its Registrable Securities free of restriction
pursuant  to  Rule  144(k)  (the  "REGISTRATION  PERIOD"),   which  Registration
Statement  (including  any amendments or  supplements  thereto and  prospectuses
contained  therein) shall not contain any untrue statement of a material fact or
omit to state a material  fact  required to be stated  therein,  or necessary to
make the statements  therein,  in light of the  circumstances in which they were
made, not misleading.  Each holder of Registrable  Securities shall promptly and
accurately  respond to the Company's request at reasonable  intervals  regarding
the amount of Registrable Securities held by such holder.

     (b) The  Company  shall  prepare  and file  with  the SEC  such  amendments
(including   post-effective   amendments)  and  supplements  to  a  Registration
Statement  and  the  prospectus  used  in  connection  with  such   Registration
Statement,  which  prospectus  is to be filed  pursuant to Rule 424  promulgated
under  the  Securities  Act,  as may be  necessary  to  keep  such  Registration
Statement  effective at all times during the  Registration  Period,  and, during
such period,  comply with the  provisions of the  Securities Act with respect to
the  disposition of all  Registrable  Securities of the Company  covered by such
Registration  Statement  until such time as all of such  Registrable  Securities
shall  have  been  disposed  of in  accordance  with  the  intended  methods  of
disposition by the seller or sellers  thereof as set forth in such  Registration
Statement. In the case of amendments and supplements to a Registration Statement
which are required to be filed pursuant to this Agreement (including pursuant to
this Section  3(b)) by reason of the  Company's  filing a report on Form 10-KSB,
Form 10-QSB or Form 8-K or any analogous  report under the  Securities  Exchange

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<PAGE>
Act of 1934, as amended (the "EXCHANGE ACT"), the Company shall incorporate such
report by reference into the  Registration  Statement,  if applicable,  or shall
file such amendments or supplements in compliance with Section 10(a)(3) and Rule
424 of  the  Securities  Act  and  relevant  undertakings  in  the  Registration
Statement.

     (c) The Company  shall furnish to each Buyer whose  Registrable  Securities
are included in any Registration Statement, without charge, (i) at least one (1)
copy of such  Registration  Statement  as declared  effective by the SEC and any
amendment(s)  thereto,   including  financial  statements  and  schedules,   all
documents  incorporated therein by reference,  all exhibits and each preliminary
prospectus,  (ii) ten (10)  copies  of the  final  prospectus  included  in such
Registration Statement and all amendments and supplements thereto (or such other
number of copies as such  Buyer may  reasonably  request)  or a  Microsoft  Word
version  thereof  and (iii) such other  documents  as such Buyer may  reasonably
request  from  time  to time in  order  to  facilitate  the  disposition  of the
Registrable Securities owned by such Buyer.

     (d) The Company shall use commercially  reasonable  efforts to (i) register
and qualify the Registrable Securities covered by a Registration Statement under
such other  securities  or "blue sky" laws of such  jurisdictions  in the United
States  as any  Buyer  reasonably  requests,  (ii)  prepare  and  file in  those
jurisdictions,   such  amendments  (including  post-effective   amendments)  and
supplements  to such  registrations  and  qualifications  as may be necessary to
maintain the effectiveness  thereof during the Registration  Period,  (iii) take
such other  actions as may be  necessary  to  maintain  such  registrations  and
qualifications in effect at all times during the Registration  Period,  and (iv)
take all  other  actions  reasonably  necessary  or  advisable  to  qualify  the
Registrable Securities for sale in such jurisdictions;  provided,  however, that
the  Company  shall not be required in  connection  therewith  or as a condition
thereto to (w) make any change to its articles of incorporation or by-laws,  (x)
qualify to do  business  in any  jurisdiction  where it would not  otherwise  be
required to qualify but for this  Section  3(d),  (y) subject  itself to general
taxation in any such  jurisdiction,  or (z) file a general consent to service of
process in any such  jurisdiction.  The Company shall promptly notify each Buyer
who  holds  Registrable  Securities  of  the  receipt  by  the  Company  of  any
notification with respect to the suspension of the registration or qualification
of any of the Registrable Securities for sale under the securities or "blue sky"
laws of any jurisdiction in the United States or its receipt of actual notice of
the initiation or threat of any proceeding for such purpose.

     (e) As  promptly  as  practicable  after  becoming  aware of such  event or
development,  the Company shall notify each Buyer in writing of the happening of
any  event as a result  of  which  the  prospectus  included  in a  Registration
Statement, as then in effect, includes an untrue statement of a material fact or
omission to state a material fact required to be stated  therein or necessary to
make the statements therein, in light of the circumstances under which they were
made,  not  misleading  (provided that in no event shall such notice contain any
material, nonpublic information), and promptly prepare a supplement or amendment
to such Registration Statement to correct such untrue statement or omission, and
deliver ten (10) copies of such  supplement  or  amendment  or a Microsoft  Word
version thereof to each Buyer. The Company shall also promptly notify each Buyer
in writing (i) when a prospectus or any prospectus  supplement or post-effective
amendment   has  been  filed,   and  when  a   Registration   Statement  or  any
post-effective   amendment   has   become   effective   (notification   of  such
effectiveness  shall be  delivered to each Buyer by facsimile on the same day of
such  effectiveness),  (ii)  of  any  request  by  the  SEC  for  amendments  or

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supplements  to a  Registration  Statement  or  related  prospectus  or  related
information,  and  (iii)  of  the  Company's  reasonable  determination  that  a
post-effective amendment to a Registration Statement would be appropriate.

     (f) The Company shall use  commercially  reasonable  efforts to prevent the
issuance  of  any  stop  order  or  other   suspension  of  effectiveness  of  a
Registration  Statement,  or the suspension of the  qualification  of any of the
Registrable  Securities for sale in any jurisdiction within the United States of
America and, if such an order or suspension is issued,  to obtain the withdrawal
of such order or suspension at the earliest  possible  moment and to notify each
Buyer who holds Registrable  Securities being sold of the issuance of such order
and the resolution  thereof or its receipt of actual notice of the initiation or
threat of any proceeding for such purpose.

     (g) At the  reasonable  request of any Buyer,  the Company shall furnish to
such Buyer, on the date of the  effectiveness of the Registration  Statement and
thereafter from time to time on such dates as a Buyer may reasonably request (i)
a letter,  dated such date,  from the  Company's  independent  certified  public
accountants  in form  and  substance  as is  customarily  given  by  independent
certified public accountants to underwriters in an underwritten public offering,
and (ii) an opinion,  dated as of such date, of counsel representing the Company
for purposes of such Registration  Statement, in form, scope and substance as is
customarily given in an underwritten public offering, addressed to the Buyers.

     (h) The Company shall make  available  for  inspection by (i) any Buyer and
(ii)  one (1)  firm of  accountants  or  other  agents  retained  by the  Buyers
(collectively,  the "INSPECTORS") all pertinent financial and other records, and
pertinent corporate documents and properties of the Company  (collectively,  the
"RECORDS"), as shall be reasonably deemed necessary by each Inspector, and cause
the Company's officers,  directors and employees to supply all information which
any Inspector may reasonably  request;  provided,  however,  that each Inspector
shall agree,  and each Buyer hereby  agrees,  to hold in strict  confidence  and
shall not make any  disclosure  (except  to a Buyer) or use any  Record or other
information that the Company determines in good faith to be confidential, and of
which determination the Inspectors are so notified, unless (a) the disclosure of
such Records is necessary to avoid or correct a misstatement  or omission in any
Registration  Statement or is otherwise  required under the Securities  Act, (b)
the  release  of such  Records is ordered  pursuant  to a final,  non-appealable
subpoena or order from a court or government body of competent jurisdiction,  or
(c) the  information  in such Records has been made  generally  available to the
public other than by disclosure  in violation of this or any other  agreement of
which the  Inspector  and the Buyer has  knowledge.  Each Buyer  agrees  that it
shall,  upon learning that disclosure of such Records is sought in or by a court
or  governmental  body of competent  jurisdiction  or through other means,  give
prompt notice to the Company and allow the Company, at its expense, to undertake
appropriate  action to prevent  disclosure  of, or to obtain a protective  order
for, the Records deemed confidential.

     (i) The Company  shall hold in  confidence  and not make any  disclosure of
information  concerning a Buyer provided to the Company unless (i) disclosure of
such  information is necessary to comply with federal or state  securities laws,
(ii) the  disclosure  of such  information  is  necessary  to avoid or correct a
misstatement  or omission in any  Registration  Statement,  (iii) the release of

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such   information   is  ordered   pursuant  to  a  subpoena  or  other   final,
non-appealable   order  from  a  court  or   governmental   body  of   competent
jurisdiction,  or (iv) such information has been made generally available to the
public other than by  disclosure  in  violation  of this  Agreement or any other
agreement.  The Company agrees that it shall,  upon learning that  disclosure of
such  information  concerning a Buyer is sought in or by a court or governmental
body of  competent  jurisdiction  or through  other means,  give prompt  written
notice to such Buyer and allow such Buyer, at the Buyer's expense,  to undertake
appropriate  action to prevent  disclosure  of, or to obtain a protective  order
for, such information.

     (j) The  Company  shall  use its  best  efforts  either  to  cause  all the
Registrable  Securities covered by a Registration  Statement (i) to be listed on
each securities  exchange on which securities of the same class or series issued
by the Company  are then  listed,  if any,  if the  listing of such  Registrable
Securities  is then  permitted  under  the  rules of such  exchange  or (ii) the
inclusion for quotation on the National Association of Securities Dealers,  Inc.
OTC Bulletin Board for such  Registrable  Securities.  The Company shall pay all
fees and  expenses in  connection  with  satisfying  its  obligation  under this
Section 3(j).

     (k) The  Company  shall  cooperate  with the  Buyers  who hold  Registrable
Securities being offered and, to the extent applicable, to facilitate the timely
preparation  and delivery of certificates  (not bearing any restrictive  legend)
representing the Registrable Securities to be offered pursuant to a Registration
Statement and enable such  certificates to be in such  denominations or amounts,
as the case may be, as the Buyers may reasonably  request and registered in such
names as the Buyers may request.

     (l) The  Company  shall use  commercially  reasonable  efforts to cause the
Registrable  Securities covered by the applicable  Registration  Statement to be
registered with or approved by such other  governmental  agencies or authorities
as  may  be  necessary  to  consummate  the  disposition  of  such   Registrable
Securities.

     (m) The Company shall make generally  available to its security  holders as
soon as  practical,  but not later than  ninety (90) days after the close of the
period  covered  thereby,  an earnings  statement  (in form  complying  with the
provisions  of Rule 158 under the  Securities  Act) covering a twelve (12) month
period  beginning not later than the first day of the Company's  fiscal  quarter
next following the effective date of the Registration Statement.

     (n) The Company shall  otherwise  use  commercially  reasonable  efforts to
comply with all applicable  rules and  regulations of the SEC in connection with
any registration hereunder.

     (o) Within two (2) business days after a  Registration  Statement  covering
Registrable  Securities is declared  effective,  the Company shall deliver,  and
shall cause legal counsel for the Company to deliver,  to the transfer agent for
such  Registrable  Securities  (with  copies  to the  Buyers  whose  Registrable
Securities are included in such Registration  Statement)  confirmation that such
Registration  Statement  has  been  declared  effective  by the SEC in the  form
attached hereto as EXHIBIT A.

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<PAGE>
     (p) The  Company  shall  take all other  reasonable  actions  necessary  to
expedite and  facilitate  disposition  by the Buyers of  Registrable  Securities
pursuant to a Registration Statement.

     4. OBLIGATIONS OF THE BUYERS.

     Each Buyer agrees that,  upon receipt of any notice from the Company of the
happening  of any  event of the kind  described  in  Section  3(f) or the  first
sentence  of 3(e),  such  Buyer  will  immediately  discontinue  disposition  of
Registrable  Securities pursuant to any Registration  Statement(s) covering such
Registrable  Securities  until  such  Buyer's  receipt  of  the  copies  of  the
supplemented  or amended  prospectus  contemplated by Section 3(e) or receipt of
notice that no supplement or amendment is required.  Notwithstanding anything to
the contrary,  the Company shall cause its transfer agent to deliver  unlegended
certificates for shares of Common Stock to a transferee of a Buyer in accordance
with the terms of the Securities  Purchase Agreement in connection with any sale
of  Registrable  Securities  with  respect to which a Buyer has  entered  into a
contract  for sale prior to the Buyer's  receipt of a notice from the Company of
the  happening  of any event of the kind  described in Section 3(f) or the first
sentence of 3(e) and for which the Buyer has not yet settled.

     5. EXPENSES OF REGISTRATION.

     All  expenses  incurred  in  connection  with  registrations,   filings  or
qualifications pursuant to Sections 2 and 3, including,  without limitation, all
registration,  listing and qualifications fees,  printers,  legal and accounting
fees shall be paid by the Company.

     6. INDEMNIFICATION.

     With respect to Registrable Securities which are included in a Registration
Statement under this Agreement:

     (a) To the fullest  extent  permitted by law, the Company will,  and hereby
does, indemnify,  hold harmless and defend each Buyer, the directors,  officers,
partners,  employees,  agents,  representatives of, and each Person, if any, who
controls any Buyer within the meaning of the  Securities Act or the Exchange Act
(each,  an  "INDEMNIFIED  PERSON"),   against  any  losses,   claims,   damages,
liabilities,  judgments, fines, penalties, charges, costs, reasonable attorneys'
fees,  amounts paid in settlement or expenses,  joint or several  (collectively,
"CLAIMS") incurred in investigating,  preparing or defending any action,  claim,
suit, inquiry,  proceeding,  investigation or appeal taken from the foregoing by
or before any court or governmental,  administrative or other regulatory agency,
body or the SEC,  whether  pending or threatened,  whether or not an indemnified
party is or may be a party thereto ("INDEMNIFIED DAMAGES"), to which any of them
may become subject  insofar as such Claims (or actions or  proceedings,  whether
commenced or threatened, in respect thereof) arise out of or are based upon: (i)
any  untrue  statement  or alleged  untrue  statement  of a  material  fact in a
Registration Statement or any post-effective  amendment thereto or in any filing
made in connection with the  qualification  of the offering under the securities
or other "blue sky" laws of any jurisdiction in which Registrable Securities are
offered  ("BLUE SKY  FILING"),  or the  omission or alleged  omission to state a
material fact required to be stated  therein or necessary to make the statements
therein not misleading; (ii) any untrue statement or alleged untrue statement of

                                       7
<PAGE>
a material fact contained in any final  prospectus (as amended or  supplemented,
if the Company files any amendment  thereof or supplement  thereto with the SEC)
or the omission or alleged omission to state therein any material fact necessary
to make the statements made therein,  in light of the circumstances  under which
the  statements  therein were made,  not  misleading;  or (iii) any violation or
alleged  violation by the Company of the  Securities  Act, the Exchange Act, any
other law, including,  without limitation, any state securities law, or any rule
or  regulation  there  under  relating  to the offer or sale of the  Registrable
Securities  pursuant to a  Registration  Statement (the matters in the foregoing
clauses (i) through (iii) being, collectively,  "VIOLATIONS"). The Company shall
reimburse the Buyers and each such controlling  person promptly as such expenses
are  incurred and are due and payable,  for any legal fees or  disbursements  or
other reasonable  expenses incurred by them in connection with  investigating or
defending  any such Claim.  Notwithstanding  anything to the contrary  contained
herein, the indemnification  agreement contained in this Section 6(a): (x) shall
not apply to a Claim by an  Indemnified  Person  arising  out of or based upon a
Violation  which  occurs in reliance  upon and in  conformity  with  information
furnished in writing to the Company by such Indemnified Person expressly for use
in connection  with the  preparation of the  Registration  Statement or any such
amendment  thereof or  supplement  thereto;  (y) shall not be  available  to the
extent  such  Claim is based on a failure of the Buyer to deliver or to cause to
be delivered the prospectus  made available by the Company,  if such  prospectus
was timely made available by the Company pursuant to Section 3(c); and (z) shall
not apply to  amounts  paid in  settlement  of any Claim if such  settlement  is
effected  without the prior written consent of the Company,  which consent shall
not be  unreasonably  withheld.  Such  indemnity  shall remain in full force and
effect regardless of any  investigation  made by or on behalf of the Indemnified
Person and shall  survive the  transfer  of the  Registrable  Securities  by the
Buyers pursuant to Section 9 hereof.

     (b) In  connection  with a  Registration  Statement,  each Buyer  agrees to
severally  and not jointly  indemnify,  hold  harmless  and defend,  to the same
extent and in the same manner as is set forth in Section 6(a), the Company, each
of its directors, each of its officers,  employees,  representatives,  or agents
and each Person,  if any,  who  controls  the Company  within the meaning of the
Securities Act or the Exchange Act (each an  "INDEMNIFIED  PARTY"),  against any
Claim or Indemnified Damages to which any of them may become subject,  under the
Securities  Act,  the  Exchange  Act or  otherwise,  insofar  as such  Claim  or
Indemnified Damages arise out of or is based upon any Violation, in each case to
the extent,  and only to the extent,  that such Violation arises (a) in reliance
upon and in conformity with written information furnished to the Company by such
Buyer expressly for use in connection  with such  Registration  Statement;  and,
subject to Section 6(d),  such Buyer will  reimburse any legal or other expenses
reasonably  incurred by them in connection with  investigating  or defending any
such Claim;  (b) from such Buyer's  failure to deliver a prospectus  timely made
available  to such  Buyer;  or (c) from  such  Buyer's  use of a  prospectus  in
violation hereof;  provided,  however, that the indemnity agreement contained in
this Section 6(b) and the agreement  with respect to  contribution  contained in
Section 7 shall not apply to  amounts  paid in  settlement  of any Claim if such
settlement is effected  without the prior written  consent of such Buyer,  which
consent shall not be unreasonably withheld; provided, further, however, that the
Buyer shall be liable under this Section 6(b) for only that amount of a Claim or
Indemnified  Damages  as does not  exceed  the net  proceeds  to such Buyer as a
result  of the sale of  Registrable  Securities  pursuant  to such  Registration
Statement.  Such indemnity  shall remain in full force and effect  regardless of
any  investigation  made by or on  behalf  of such  Indemnified  Party and shall

                                       8
<PAGE>
survive the transfer of the  Registrable  Securities  by the Buyers  pursuant to
Section 9.  Notwithstanding  anything  to the  contrary  contained  herein,  the
indemnification  agreement  contained  in this  Section 6(b) with respect to any
prospectus shall not inure to the benefit of any Indemnified Party if the untrue
statement or omission of material fact contained in the prospectus was corrected
and such new prospectus was delivered to each Buyer prior to such Buyer's use of
the prospectus to which the Claim relates.

     (c) Promptly  after receipt by an Indemnified  Person or Indemnified  Party
under this Section 6 of notice of the  commencement  of any action or proceeding
(including  any  governmental  action or  proceeding)  involving  a Claim,  such
Indemnified  Person or Indemnified Party shall, if a Claim in respect thereof is
to be made against any  indemnifying  party under this Section 6, deliver to the
indemnifying  party  a  written  notice  of the  commencement  thereof,  and the
indemnifying  party shall have the right to  participate  in, and, to the extent
the indemnifying  party so desires,  jointly with any other  indemnifying  party
similarly  noticed,  to assume  control  of the  defense  thereof  with  counsel
mutually  satisfactory to the indemnifying  party and the Indemnified  Person or
the  Indemnified  Party,  as  the  case  may  be;  provided,  however,  that  an
Indemnified  Person or Indemnified  Party shall have the right to retain its own
counsel  with the fees and  expenses  of not more than one (1)  counsel for such
Indemnified  Person or Indemnified  Party to be paid by the indemnifying  party,
if, in the reasonable opinion of counsel retained by the indemnifying party, the
representation  by such counsel of the Indemnified  Person or Indemnified  Party
and the  indemnifying  party would be  inappropriate  due to actual or potential
differing interests between such Indemnified Person or Indemnified Party and any
other party  represented by such counsel in such  proceeding;.  The  Indemnified
Party or Indemnified Person shall cooperate fully with the indemnifying party in
connection  with any  negotiation  or defense of any such action or claim by the
indemnifying  party and shall furnish to the indemnifying  party all information
reasonably  available  to the  Indemnified  Party or  Indemnified  Person  which
relates  to such  action  or  claim.  The  indemnifying  party  shall  keep  the
Indemnified  Party or  Indemnified  Person fully apprised at all times as to the
status of the defense or any settlement  negotiations  with respect thereto.  No
indemnifying  party shall be liable for any  settlement of any action,  claim or
proceeding effected without its prior written consent;  provided,  however, that
the indemnifying party shall not unreasonably  withhold,  delay or condition its
consent.  No indemnifying party shall,  without the prior written consent of the
Indemnified  Party or  Indemnified  Person,  consent to entry of any judgment or
enter into any  settlement  or other  compromise  which  does not  include as an
unconditional  term  thereof  the giving by the  claimant or  plaintiff  to such
Indemnified  Party or  Indemnified  Person of a release  from all  liability  in
respect to such claim or litigation.  Following  indemnification as provided for
hereunder,  the  indemnifying  party  shall be  subrogated  to all rights of the
Indemnified Party or Indemnified Person with respect to all third parties, firms
or corporations  relating to the matter for which indemnification has been made.
The  failure  to  deliver  written  notice to the  indemnifying  party  within a
reasonable  time of the  commencement  of any such action shall not relieve such
indemnifying  party of any liability to the  Indemnified  Person or  Indemnified
Party under this Section 6, except to the extent that the indemnifying  party is
prejudiced in its ability to defend such action.

     (d) The  indemnification  required  by  this  Section  6  shall  be made by
periodic  payments of the amount thereof during the course of the  investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

                                       9
<PAGE>
     (e) The indemnity  agreements  contained herein shall be in addition to (i)
any cause of action or similar  right of the  Indemnified  Party or  Indemnified
Person against the  indemnifying  party or others,  and (ii) any liabilities the
indemnifying party may be subject to pursuant to the law.

     7. CONTRIBUTION.

     To the extent any indemnification by an indemnifying party is prohibited or
limited by law, the indemnifying  party agrees to make the maximum  contribution
with respect to any amounts for which it would otherwise be liable under Section
6 to the fullest extent permitted by law; provided, however, that: (i) no seller
of Registrable  Securities  guilty of fraudulent  misrepresentation  (within the
meaning  of  Section  11(f)  of  the  Securities   Act)  shall  be  entitled  to
contribution  from any seller of  Registrable  Securities  who was not guilty of
fraudulent misrepresentation; and (ii) contribution by any seller of Registrable
Securities shall be limited in amount to the net amount of proceeds  received by
such seller from the sale of such Registrable Securities.

     8. REPORTS UNDER THE EXCHANGE ACT.

     With a view to making  available  to the  Buyers the  benefits  of Rule 144
promulgated  under the  Securities  Act or any similar rule or regulation of the
SEC that may at any time permit the Buyers to sell  securities of the Company to
the public without registration ("RULE 144") the Company agrees to:

     (a)  make  and keep  public  information  available,  as  those  terms  are
understood and defined in Rule 144;

     (b) file with the SEC in a timely  manner all reports  and other  documents
required of the Company under the Securities Act and the Exchange Act so long as
the Company  remains  subject to such  requirements  (it being  understood  that
nothing herein shall limit the Company's  obligations  under Section 4(c) of the
Securities  Purchase  Agreement)  and the  filing  of  such  reports  and  other
documents as are required by the applicable provisions of Rule 144; and

     (c)  furnish  to  each  Buyer  so  long  as  such  Buyer  owns  Registrable
Securities,  promptly upon request,  (i) a written statement by the Company that
it has complied with the reporting  requirements of Rule 144, the Securities Act
and the Exchange Act, (ii) a copy of the most recent annual or quarterly  report
of the Company and such other reports and documents so filed by the Company, and
(iii) such other information as may be reasonably requested to permit the Buyers
to sell such securities pursuant to Rule 144 without registration.

     9. AMENDMENT OF REGISTRATION RIGHTS.

     Provisions of this Agreement may be amended and the observance  thereof may
be waived (either generally or in a particular instance and either retroactively
or  prospectively),  only with the written consent of the Company and Buyers who
then hold at least two-thirds (2/3) of the Registrable Securities. Any amendment
or waiver  effected in accordance with this Section 9 shall be binding upon each
Buyer and the Company.  No such amendment  shall be effective to the extent that

                                       10
<PAGE>
it applies to fewer than all of the holders of the  Registrable  Securities.  No
consideration  shall be  offered  or paid to any Person to amend or consent to a
waiver or modification of any provision of any of this Agreement unless the same
consideration also is offered to all of the parties to this Agreement.

     10. MISCELLANEOUS.

     (a) A Person is deemed to be a holder of  Registrable  Securities  whenever
such Person owns or is deemed to own of record such Registrable  Securities.  If
the Company receives conflicting instructions, notices or elections from two (2)
or more  Persons with respect to the same  Registrable  Securities,  the Company
shall act upon the basis of instructions,  notice or election  received from the
registered owner of such Registrable Securities.

     (b) Any  notices,  consents,  waivers or other  communications  required or
permitted to be given under the terms of this  Agreement  must be in writing and
will be  deemed  to have  been  delivered:  (i)  upon  receipt,  when  delivered
personally;  (ii) upon receipt, when sent by facsimile (provided confirmation of
transmission is mechanically or electronically generated and kept on file by the
sending  party);  or (iii) one (1) business day after  deposit with a nationally
recognized  overnight  delivery service,  in each case properly addressed to the
party to  receive  the  same.  The  addresses  and  facsimile  numbers  for such
communications shall be:

If to the Company, to:     City Network, Inc.
                           6F-3, No.16, Jian Ba Road
                           Jhonghe City, Taipei County, 235
                           Taiwan, ROC F5 235
                           Attention: Mr Tiao-Tsan Lai
                           Telephone: 886-2-8226-5566
                           Facsimile: 886-2-8226-8585

With Copy to:              Loeb & Loeb LLP
                           345 Park Avenue
                           New York, NY 10154-0037
                           Attention: Mitchell Nussbaum, Esq.
                           Telephone: (212) 407-4159
                           Facsimile: (212) 407-4990

If to a Buyer,  to its address and  facsimile  number on the  Schedule of Buyers
attached hereto, with copies to such Buyer's representatives as set forth on the
Schedule of Buyers or to such other address  and/or  facsimile  number and/or to
the  attention  of such other  person as the  recipient  party has  specified by
written   notice  given  to  each  other  party  five  (5)  days  prior  to  the
effectiveness of such change.  Written  confirmation of receipt (A) given by the
recipient  of  such  notice,  consent,   waiver  or  other  communication,   (B)
mechanically  or  electronically  generated  by the sender's  facsimile  machine
containing the time, date,  recipient facsimile number and an image of the first
page of such  transmission  or (C)  provided by a courier or  overnight  courier
service shall be rebuttable  evidence of personal service,  receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

                                       11
<PAGE>
     (c)  Failure  of any  party to  exercise  any right or  remedy  under  this
Agreement or otherwise,  or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

     (d) The laws of the State of New Jersey shall govern all issues  concerning
the relative rights of the Company and the Buyers as its stockholders. All other
questions concerning the construction,  validity, enforcement and interpretation
of this  Agreement  shall be governed by the  internal  laws of the State of New
Jersey,  without giving effect to any choice of law or conflict of law provision
or rule  (whether  of the State of New  Jersey or any other  jurisdiction)  that
would cause the application of the laws of any jurisdiction other than the State
of New  Jersey.  Each party  hereby  irrevocably  submits  to the  non-exclusive
jurisdiction  of the  Superior  Courts of the State of New  Jersey,  sitting  in
Hudson  County,  New Jersey and  federal  courts for the  District of New Jersey
sitting Newark,  New Jersey, for the adjudication of any dispute hereunder or in
connection  herewith or with any  transaction  contemplated  hereby or discussed
herein,  and hereby  irrevocably  waives,  and agrees not to assert in any suit,
action  or  proceeding,  any  claim  that it is not  personally  subject  to the
jurisdiction of any such court,  that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is
improper.  Each party hereby  irrevocably waives personal service of process and
consents  to process  being  served in any such suit,  action or  proceeding  by
mailing a copy thereof to such party at the address for such notices to it under
this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof.  Nothing contained herein shall be deemed
to limit in any way any right to serve  process in any manner  permitted by law.
If any  provision of this  Agreement  shall be invalid or  unenforceable  in any
jurisdiction,  such invalidity or unenforceability shall not affect the validity
or enforceability of the remainder of this Agreement in that jurisdiction or the
validity or  enforceability  of any  provision  of this  Agreement  in any other
jurisdiction.  EACH PARTY HEREBY  IRREVOCABLY  WAIVES ANY RIGHT IT MAY HAVE, AND
AGREES  NOT TO  REQUEST,  A JURY  TRIAL  FOR  THE  ADJUDICATION  OF ANY  DISPUTE
HEREUNDER  OR IN  CONNECTION  HEREWITH OR ARISING OUT OF THIS  AGREEMENT  OR ANY
TRANSACTION CONTEMPLATED HEREBY.

     (e) This  Agreement,  the  Irrevocable  Transfer  Agent  Instructions,  the
Securities  Purchase  Agreement and related documents  including the Convertible
Debenture  and the  Escrow  Agreement  dated  the date  hereof  by and among the
Company,  the Buyers set forth on the Schedule of Buyers  attached  hereto,  and
David Gonzalez,  Esq. (the "ESCROW  AGREEMENT") and the Security Agreement dated
the date hereof (the "SECURITY AGREEMENT") constitute the entire agreement among
the parties hereto with respect to the subject matter hereof and thereof.  There
are no restrictions,  promises, warranties or undertakings, other than those set
forth or  referred  to herein  and  therein.  This  Agreement,  the  Irrevocable
Transfer  Agent  Instructions,  the  Securities  Purchase  Agreement and related
documents  including the  Convertible  Debenture,  the Escrow  Agreement and the
Security Agreement  supersede all prior agreements and understandings  among the
parties hereto with respect to the subject matter hereof and thereof.

     (f) This  Agreement  shall inure to the benefit of and be binding  upon the
permitted successors and assigns of each of the parties hereto.

                                       12
<PAGE>
     (g) The headings in this  Agreement are for  convenience  of reference only
and shall not limit or otherwise affect the meaning hereof.

     (h) This Agreement may be executed in identical counterparts, each of which
shall be deemed an original but all of which shall  constitute  one and the same
agreement.  This  Agreement,  once executed by a party,  may be delivered to the
other party hereto by facsimile transmission of a copy of this Agreement bearing
the signature of the party so delivering this Agreement.

     (i) Each party shall do and perform, or cause to be done and performed, all
such  further  acts and  things,  and shall  execute  and deliver all such other
agreements,  certificates,  instruments  and  documents,  as the other party may
reasonably  request in order to carry out the intent and accomplish the purposes
of this Agreement and the consummation of the transactions contemplated hereby.

     The  language  used in this  Agreement  will be deemed  to be the  language
chosen by the  parties to  express  their  mutual  intent and no rules of strict
construction will be applied against any party.

     (j) This  Agreement is intended  for the benefit of the parties  hereto and
their respective  permitted  successors and assigns,  and is not for the benefit
of, nor may any provision hereof be enforced by, any other Person.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       13
<PAGE>
     IN WITNESS  WHEREOF,  the parties  have caused this  Investor  Registration
Rights Agreement to be duly executed as of day and year first above written.

                                     COMPANY:
                                     CITY NETWORK, INC

                                     By:   /s/ Tiao-Tsan Lai
                                        ---------------------------
                                     Name: Mr Tiao-Tsan Lai
                                     Title:Chief Executive Officer

                                       14
<PAGE>
                                   SCHEDULE I

                               SCHEDULE OF BUYERS

<TABLE>
<CAPTION>
                                                                               Address/Facsimile
          Name                             Signature                            Number of Buyers
          ----                             ---------                            ----------------
<S>                               <C>                                      <C>
Cornell Capital Partners, LP       By:  Yorkville Advisors, LLC             101 Hudson Street - Suite 3700
                                   Its: General Partner                     Jersey City, NJ  07303
                                                                            Facsimile: (201) 985-8266

                                   By:
                                   Name: Mark Angelo
                                   Its:  Portfolio Manager

With a copy to:                    David Gonzalez, Esq.                     101 Hudson Street - Suite 3700
                                                                            Jersey City, NJ 07302
                                                                            Facsimile: (201) 985-8266
</TABLE>

                                       15
<PAGE>
                                   SCHEDULE II

                             REGISTRABLE SECURITIES

<TABLE>
<CAPTION>
                                                                                Number of Shares of Common Stock
    Selling Stockholder                Description                                 to be Registered Initially
    -------------------                -----------                                 --------------------------
<S>                              <C>                                           <C>
Highgate House Funds, Ltd.        Shares of Common Stock                        25,000
                                  underlying warrants issued on
                                  August 10, 2005

Cornell Capital Partners, LP      Shares  of  Common  Stock   underlying        Such  number of  shares  equal to five
                                  Convertible Debentures to be issued in        (5) times the total principal  balance
                                  connection    with   the    Securities        of the Convertible Debenture remaining
                                  Purchase Agreement                            at the time of filing  divided  by the
                                                                                conversion price in effect at the time
                                                                                of filing.

Cornell Capital Partners, LP      Shares of Common Stock underlying             1,000,000
                                  warrants to be issued in connection
                                  with the Securities Purchase Agreement
</TABLE>

                                       16
<PAGE>
                                    EXHIBIT A

                         FORM OF NOTICE OF EFFECTIVENESS
                            OF REGISTRATION STATEMENT

Attention:

     Re: CITY NETWORK, INC.

Ladies and Gentlemen:

     We are counsel to City Network,  Inc, a Nevada corporation (the "COMPANY"),
and have  represented  the Company in  connection  with that certain  Securities
Purchase  Agreement (the "SECURITIES  PURCHASE  AGREEMENT")  entered into by and
among the Company and the buyers  named  therein  (collectively,  the  "BUYERS")
pursuant to which the Company  issued to the Buyers  shares of its Common Stock,
par value  $0.001 per share  (the  "COMMON  STOCK").  Pursuant  to the  Purchase
Agreement,  the Company also has entered into the Investor  Registration  Rights
Agreement,  dated _____ (the "REGISTRATION  RIGHTS AGREEMENT"),  with the Buyers
pursuant  to which the  Company  agreed,  among other  things,  to register  the
Registrable  Securities (as defined in the Registration  Rights Agreement) under
the Securities  Act of 1933, as amended (the  "SECURITIES  ACT").  In connection
with the Company's  obligations  under the  Registration  Rights  Agreement,  on
____________  ____, the Company filed a Registration  Statement on Form ________
(File No.  333-_____________) (the "REGISTRATION STATEMENT") with the Securities
and Exchange Commission (the "SEC") relating to the Registrable Securities which
names each of the Buyers as a selling stockholder there under.

     In connection with the foregoing,  we advise you that a member of the SEC's
staff has advised us by  telephone  that the SEC has entered an order  declaring
the Registration  Statement effective under the Securities Act at [ENTER TIME OF
EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS] and we have no knowledge,  after
telephonic  inquiry  of a  member  of the  SEC's  staff,  that  any  stop  order
suspending its  effectiveness  has been issued or that any  proceedings for that
purpose  are  pending  before,  or  threatened  by, the SEC and the  Registrable
Securities  are  available for resale under the  Securities  Act pursuant to the
Registration Statement.

                                Very truly yours,

                                [Law Firm]

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

cc: [LIST NAMES OF BUYERS]

                                       17

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