Document:

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                                                                    EXHIBIT 4.07

                                     FORM OF
                                     WARRANT

            THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
            NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
            (THE "ACT"), OR ANY OTHER SECURITIES LAWS AND MAY NOT BE OFFERED FOR
            SALE, SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF
            (1) AN EFFECTIVE REGISTRATION STATEMENT COVERING SUCH SECURITIES
            UNDER THE ACT AND ANY OTHER APPLICABLE SECURITIES LAWS, OR (2) AN
            OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION THAT
            SUCH REGISTRATION IS NOT REQUIRED.

                         WARP TECHNOLOGY HOLDINGS, INC.

                        WARRANT TO PURCHASE [ ] SHARES OF
                   COMMON STOCK, PAR VALUE $0.00001 PER SHARE

[___________], 2005                                             Warrant No. [  ]

      For value received, WARP TECHNOLOGY HOLDINGS, INC., a Nevada corporation
(the "CORPORATION"), hereby certifies that [__________________________], or its
registered transferees, successors or assigns (each person or entity holding all
or part of this Warrant being referred to as a "HOLDER"), is the registered
holder of warrants (the "WARRANTS") to subscribe for and purchase [INSERT NUMBER
OF SHARES IN WORDS (######) ] shares (as adjusted pursuant to Section 3 hereof,
the "WARRANT SHARES") of the fully paid and nonassessable common stock, par
value $0.00001 per share (the "COMMON STOCK"), of the Corporation, at a purchase
price per share initially equal to ONE DOLLAR AND TWENTY FIVE CENTS ($1.25) (the
"WARRANT PRICE") on or before, 5:00 P.M., Eastern Time, on [JANUARY _____, 2010]
(the "EXPIRATION DATE"), subject to the provisions and upon the terms and
conditions hereinafter set forth; provided, however, that in the event that any
portion of this Warrant is unexercised as of the Expiration Date, the terms of
Section 1(b) below shall apply. As used in this Warrant, the term "BUSINESS DAY"
means any day other than a Saturday or Sunday on which commercial banks located
in New York, New York are open for the general transaction of business. This
Warrant has been issued pursuant to a certain Subordinated Note and Warrant
Purchase Agreement, dated as of January [ ], 2005, by and among the Corporation
and the Purchasers signatory thereto (the "PURCHASE AGREEMENT"). All capitalized
terms used but not defined herein shall have the meanings ascribed thereto in
the Purchase Agreement.

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      1. Exercise.

            (a) Method of Exercise; Payment; Issuance of New Warrant.

                  (i) Subject to the provisions hereof, the Holder may exercise
      this Warrant, in whole or in part and from time to time, by the surrender
      of this Warrant (with the Notice of Exercise attached hereto as APPENDIX A
      duly executed) at the principal office of the Corporation, or such other
      office or agency of the Corporation as it may reasonably designate by
      written notice to the Holder, during normal business hours on any Business
      Day, and the payment by the Holder by cash, certified check payable to the
      Corporation or wire transfer of immediately available funds to an account
      designated to the exercising Holder by the Corporation of an amount equal
      to the then applicable Warrant Price multiplied by the number of Warrant
      Shares then being purchased, or in the event of a cashless exercise
      pursuant to Section 1(c) below, with the Net Issue Election Notice
      attached hereto as APPENDIX B duly executed and completed. On the date on
      which the Holder shall have satisfied in full the Holder's obligations set
      forth herein regarding an exercise of this Warrant (provided such date is
      prior to the Expiration Date), the Holder (or such other person or persons
      as directed by the Holder, subject to compliance with applicable
      securities laws) shall be treated for all purposes as the holder of record
      of such Warrant Shares as of the close of business on such date.

                  (ii) In the event of any exercise of the rights represented by
      this Warrant, certificates for the whole number of shares of Common Stock
      so purchased shall be delivered to the Holder (or such other person or
      persons as directed by the Holder, subject to compliance with applicable
      securities laws) as promptly as is reasonably practicable (but not later
      than three (3) Business Days) after such exercise at the Corporation's
      expense, and, unless this Warrant has been fully exercised, a new Warrant
      representing the whole number of Warrant Shares, if any, with respect to
      which this Warrant shall not then have been exercised shall also be issued
      to the Holder as soon as reasonably practicable thereafter (but not later
      than three (3) Business Days) after such exercise.

            (b) Automatic Exercise. If any portion of this Warrant remains
unexercised as of the Expiration Date and the Fair Market Value of one share of
Common Stock as of the Expiration Date is greater than the applicable Warrant
Price as of the Expiration Date, then this Warrant shall be deemed to have been
exercised automatically immediately prior to the close of business on the
Expiration Date (or, in the event that the Expiration Date is not a Business
Day, the immediately preceding Business Day) (the "AUTOMATIC EXERCISE DATE") in
the manner provided in Section 1(c) below, and the Holder (or such other person
or persons as directed by the Holder, subject to compliance with applicable
securities laws) shall be treated for all purposes as the holder of record of
such Warrant Shares as of the close of business on such Automatic Exercise Date.
This Warrant shall be deemed to be surrendered to the Corporation on the
Automatic Exercise Date by virtue of this Section 1(b) without any action by the
Holder. As promptly as is reasonably practicable on or after the Automatic
Exercise Date, but in no event prior to the date on which this Warrant is
surrendered to the Corporation at the principal office of the Corporation, or
such other office or agency of the Corporation as it may reasonably designate by
written notice to the Holder, during normal business hours on any Business Day,
the

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Corporation at its expense shall issue and deliver to the Holder (or such other
person or persons as directed by the Holder, subject to compliance with
applicable securities laws) a certificate or certificates for the number of
Warrant Shares issuable upon such exercise, in accordance with Section 1(c).

            (c) Cashless Right to Convert Warrant into Common Stock.
Notwithstanding any provision herein to the contrary, if as of the date of
exercise of all or a part of this Warrant, the Fair Market Value for one share
of Common Stock is greater than the Warrant Price, then in lieu of exercising
this Warrant for cash, the Holder may elect to receive, without the payment by
the Holder of the Warrant Price, Warrant Shares equal to the value of this
Warrant or any portion hereof by the surrender of this Warrant (or such portion
of this Warrant being so exercised) together with the Net Issue Election Notice
annexed hereto as APPENDIX B duly executed and completed, at the office of the
Corporation, or such other office or agency of the Corporation as it may
reasonably designate by written notice to the Holder, during normal business
hours on any Business Day. Thereupon, the Corporation shall issue to the Holder
such number of fully paid, validly issued and nonassessable Warrant Shares, as
is computed using the following formula:

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

where

                  X = the number of shares of Common Stock to be issued to the
Holder (or such other person or persons as directed by the Holder, subject to
compliance with all applicable laws) upon such exercise of the rights under this
Section 1(c)

                  Y = the total number of shares of Common Stock covered by this
Warrant which the Holder has surrendered for cashless exercise

                  A = the "Fair Market Value" of one share of Common Stock on
the date that the Holder delivers the Net Issue Election Notice to the
Corporation as provided herein

                  B = the Warrant Price in effect under this Warrant on the date
that the Holder delivers the Net Issue Election Notice to the Corporation as
provided herein

The "FAIR MARKET VALUE" of a share of Common Stock as of a particular date (the
"VALUATION DATE") shall mean the following:

                  (i) if the Common Stock is then listed on a national
      securities exchange, the average closing sale price of one share of Common
      Stock on such exchange over the ten (10) trading days ending on the last
      trading day prior to the Valuation Date; provided that if such stock has
      not traded in the ten (10) consecutive trading days prior to the Valuation
      Date, the Fair Market Value shall be the average closing price of one
      share of Common Stock in the most recent ten (10) trading days during
      which the Common Stock has traded prior to the Valuation Date;

                  (ii) if the Common Stock is then included in The Nasdaq Stock
      Market, Inc. ("NASDAQ"), the average closing sale price of one share of
      Common Stock

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      on Nasdaq over the ten (10) trading days ending on the last trading day
      prior to the Valuation Date or, if no closing sale price is available for
      any of such ten (10) trading days, the closing sale price for such day
      shall be determined as the average of the high bid and the low ask price
      quoted on Nasdaq as of the end of such trading day; provided that if the
      Common Stock has not traded in the ten (10) consecutive trading days prior
      to the Valuation Date, the Fair Market Value shall be the average closing
      price of one share of Common Stock in the most recent ten (10) trading
      days during which the Common Stock has traded prior to the Valuation Date;

                  (iii) If the Common Stock is then included in the
      Over-the-Counter Bulletin Board, the average closing sale price of one
      share of Common Stock on the Over-the-Counter Bulletin Board over the ten
      (10) trading days ending on the last trading day prior to the Valuation
      Date or, if no closing sale price is available for any of such ten (10)
      trading days, the closing sale price for such day shall be determined as
      the average of the high bid and the low ask price quoted on the
      Over-the-Counter Bulletin Board as of the end of such trading day;
      provided that if the Common Stock has not traded in the ten (10)
      consecutive trading days prior to the Valuation Date, the Fair Market
      Value shall be the average closing price of one share of Common Stock in
      the most recent ten (10) trading days during which the Common Stock has
      traded prior to the Valuation Date;

                  (iv) if the Common Stock is then included in the "pink
      sheets", the average closing sale price of one share of Common Stock on
      the "pink sheets" over the ten (10) trading days ending on the last
      trading day prior to the Valuation Date or, if no closing sale price is
      available for any of such ten (10) trading days, the closing sale price
      for such day shall be determined as the average of the high bid and the
      low ask price quoted on the "pink sheets" as of the end of such trading
      day; provided that if the Common Stock has not traded in the ten (10)
      consecutive trading days prior to the Valuation Date, the Fair Market
      Value shall be the average closing price of one share of Common Stock in
      the most recent ten (10) trading days during which the Common Stock has
      traded prior to the Valuation Date; or

                  (v) if the Common Stock is not then listed on a national
      securities exchange or quoted on Nasdaq or the Over-the-Counter Bulletin
      Board or the "pink sheets", the Fair Market Value of one share of Common
      Stock as of the Valuation Date shall be determined in good faith by the
      Board of Directors of the Corporation (the "BOARD").

      2. Reservation of Shares; Stock Fully Paid; Listing. Upon the
effectiveness of the Amendment, the Corporation shall keep reserved a sufficient
number of shares of the authorized and unissued shares of Common Stock to
provide for the exercise of the rights of purchase represented by this Warrant
in compliance with its terms. All Warrant Shares issued upon exercise of this
Warrant shall be, at the time of delivery of the certificates for such Warrant
Shares upon payment in full of the Warrant Price therefor in accordance with the
terms of this Warrant (or proper exercise of the cashless exercise rights
contained in Section 1(c) hereof), duly authorized, validly issued, fully paid
and non-assessable shares of Common Stock of the Corporation. The Corporation
shall during all times prior to the Expiration Date when the shares

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of Common Stock issuable upon the exercise of this Warrant are authorized for
listing or quotation on any national securities exchange, Nasdaq (or the
Over-the-Counter Bulletin Board or the "pink sheets", as the case may be), keep
the shares of Common Stock issuable upon the exercise of this Warrant authorized
for listing or quotation on such national securities exchange, Nasdaq (or the
Over-the-Counter Bulletin Board or the "pink sheets", as the case may be).

      3. Adjustments and Distributions.

      3.1 If the Corporation shall, while this Warrant is outstanding, issue or
sell shares of its Common Stock or "Common Stock Equivalents" (as defined below)
without consideration or at a price per share or "Net Consideration Per Share"
(as defined below) less than the Warrant Price in effect immediately prior to
such issuance or sale, then in each such case the Warrant Price then in effect
at such time, except as hereinafter provided, shall be lowered so as to be equal
to the Net Consideration Per Share.

            (a) Common Stock Equivalents.

                  (i)   General. For the purposes of this Warrant, the issuance
                        of any warrants, options, subscription or purchase
                        rights with respect to shares of Common Stock and the
                        issuance of any securities (including, without
                        limitation, securities evidencing indebtedness)
                        convertible into or exchangeable for shares of Common
                        Stock and the issuance of any warrants, options,
                        subscription or purchase rights with respect to such
                        convertible or exchangeable securities (collectively,
                        "Common Stock Equivalents"), shall be deemed an issuance
                        of Common Stock. Any obligation, agreement or
                        undertaking to issue Common Stock Equivalents at any
                        time in the future shall be deemed to be an issuance at
                        the time such obligation, agreement or undertaking is
                        made or arises. No adjustment of the Warrant Price shall
                        be made under this Warrant upon the issuance of any
                        shares of Common Stock which are issued pursuant to the
                        exercise, conversion or exchange of any Common Stock
                        Equivalents.

                  (ii)  Adjustments for Adjustment, Cancellation or Expiration
                        of Common Stock Equivalents. Should the Net
                        Consideration Per Share of any such Common Stock
                        Equivalents be decreased from time to time other than as
                        a result of the application of anti-dilution provisions
                        substantially similar to the provisions of this Warrant,
                        then, upon the effectiveness of each such change, the
                        Warrant Price will be that which would have been
                        obtained (1) had the adjustments made upon the issuance
                        of such Common Stock Equivalents been made upon the
                        basis of the new Net Consideration Per Share of such
                        securities, and (2) had the adjustments made to the
                        Warrant Price since the date of issuance of such Common
                        Stock Equivalents been made to such Warrant Price as
                        adjusted pursuant to clause (1) above. Any adjustment of
                        the Warrant Price which relates to any Common Stock
                        Equivalent shall be disregarded if, as, and when such
                        Common Stock Equivalent expires or is canceled without
                        being exercised, or is

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                        repurchased by the Corporation at a price per share at
                        or less than the original purchase price, so that the
                        Warrant Price effective immediately upon such
                        cancellation or expiration shall be equal to the Warrant
                        Price that would have been in effect (1) had the expired
                        or canceled Common Stock Equivalent not been issued, and
                        (2) had the adjustments made to the Warrant Price since
                        the date of issuance of such Common Stock Equivalents
                        been made to the Warrant Price which would have been in
                        effect had the expired or canceled Common Stock
                        Equivalent not been issued.

            (b) Net Consideration Per Share. For purposes of this Warrant, the
"Net Consideration Per Share" which shall be receivable by the Corporation for
any Common Stock issued upon the exercise or conversion of any Common Stock
Equivalents shall be determined as follows:

                  (i)   The "Net Consideration Per Share" shall mean the amount
                        equal to the total amount of consideration, if any,
                        received by the Corporation for the issuance of such
                        Common Stock Equivalents, plus the minimum amount of
                        consideration, if any, payable to the Corporation upon
                        exercise, or conversion or exchange thereof, divided by
                        the maximum aggregate number of shares of Common Stock
                        (without regard to any provision contained therein
                        providing for a subsequent adjustment to such number)
                        that would be issued if all such Common Stock
                        Equivalents were exercised, exchanged or converted.

                  (ii)  The "Net Consideration Per Share" which shall be
                        receivable by the Corporation shall be determined in
                        each instance as of the date of issuance of Common Stock
                        Equivalents without giving effect to any possible future
                        upward price adjustments or rate adjustments which may
                        be applicable with respect to such Common Stock
                        Equivalents.

            (c) Stock Dividends for Holders of Capital Stock Other Than Common
Stock. In the event that the Corporation shall make or issue (otherwise than to
holders of Common Stock), or shall fix a record date for the determination of
holders of any capital stock of the Corporation other than holders of Common
Stock entitled to receive, a dividend or other distribution payable in Common
Stock or securities of the Corporation convertible into or otherwise
exchangeable for shares of Common Stock of the Corporation, then such Common
Stock or other securities issued in payment of such dividend shall be deemed to
have been issued for their fair market value as is reasonably determined in good
faith by the Board of Directors of the Corporation.

            (d) Consideration Other than Cash. For purposes of this Warrant, if
a part or all of the consideration received by the Corporation in connection
with the issuance of shares of Common Stock or the issuance of any of the
securities described in this Warrant consists of property other than cash, such
consideration shall be deemed to have a fair market value as is reasonably
determined in good faith by the Board of Directors of the Corporation.

            (e) Exceptions to Anti-Dilution Adjustments. This Section 3.1 shall
not apply (A) under any of the circumstances which would constitute an
Extraordinary Common Stock

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Event (as described below) (such circumstances being accounted for pursuant to
Section 3.2 hereof), (B) to the issuance of Common Stock upon the conversion of
the Corporation's Series C Preferred Stock, Series B Preferred Stock or Series
B-2 Preferred Stock, (C) to the issuance of the Series C Preferred Stock and the
warrants issued in connection therewith or (D) upon the exercise of this Warrant
or any Initial Warrants or Additional Warrants or any warrants issued in
connection with the Series C Preferred Stock or other warrants or options to
purchase shares of Common Stock, or other securities convertible into shares of
Common Stock, outstanding prior to the original issue date of this Warrant.
Further, the adjustments described in this Section 3.1 shall not apply with
respect to the issuance or sale of shares of Common Stock, or the grant of
options exercisable therefor, issued or issuable after the original issue date
of this Warrant to:

                  (i)   directors, officers, employees and consultants of the
                        Corporation or any subsidiary pursuant to any qualified
                        or non-qualified stock option plan or agreement, stock
                        purchase plan or agreement, stock restriction agreement,
                        employee stock ownership plan, consultant equity
                        compensation plan or arrangement approved by the Board
                        of Directors or an authorized committee thereof,
                        including any repurchase or stock restriction agreement,
                        or such other options, issuances, arrangements,
                        agreements or plans intended principally as a means of
                        providing compensation for employment or services and
                        approved by the Board of Directors;

                  (ii)  capital stock, or options or warrants to purchase
                        capital stock, issued to financial institutions or
                        lessors in connection with commercial credit
                        arrangements, equipment financings, commercial property
                        lease transactions or similar transactions;

                  (iii) capital stock, or warrants or options to purchase
                        capital stock, issued in connection with bona fide
                        acquisitions, mergers or similar transactions, the terms
                        of which are approved by the Board of Directors of the
                        Corporation; and

                  (iv)  capital stock issued or issuable to an entity as a
                        component of any business relationship with such entity
                        for the purpose of (A) joint venture, technology
                        licensing or development activities, (B) distribution,
                        supply or manufacture of the Corporation's products or
                        services or (C) any other arrangements involving
                        corporate partners that are primarily for purposes other
                        than raising capital, the terms of which business
                        relationship with such entity are approved by the Board
                        of Directors.

            (f) No Fractional Adjustments. No adjustment of the Warrant Price
shall be made in an amount less than one cent per share, provided that any
adjustments which are not required to be made by reason of this sentence shall
be carried forward and shall be either taken into account in any subsequent
adjustment made prior to three years from the date of the event giving rise to
the adjustment being carried forward and prior to exercise, or shall be made at
the end of three years from the date of the event giving rise to the adjustment
being carried forward.

            (g) No Increased Warrant Price. Notwithstanding any other provisions
of this Section 3, except to the limited extent provided for in Sections
3.1(a)(ii), no adjustment of the

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Warrant Price pursuant to this Section 3 shall have the effect of increasing the
Warrant Price above the Warrant Price in effect immediately prior to such
adjustment.

      3.2 Adjustment Upon Extraordinary Common Stock Event. Upon the happening
of an Extraordinary Common Stock Event (as hereinafter defined), the Warrant
Price shall, simultaneously with the happening of such Extraordinary Common
Stock Event, be adjusted by multiplying such Warrant Price by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding
immediately prior to such Extraordinary Common Stock Event and the denominator
of which shall be the number of shares of Common Stock outstanding immediately
after such Extraordinary Common Stock Event, and the product so obtained shall
thereafter be the Warrant Price which, as so adjusted, shall be readjusted in
the same manner upon the happening of any successive Extraordinary Common Stock
Event or Events.

      An "Extraordinary Common Stock Event" shall mean (i) the issue of
additional shares of Common Stock as a dividend or other distribution on
outstanding shares of Common Stock, (ii) a subdivision of outstanding shares of
Common Stock into a greater number of shares of Common Stock, or (iii) a
combination or reverse stock split of outstanding shares of Common Stock into a
smaller number of shares of the Common Stock.

      3.3 Adjustment Upon Certain Dividends. In the event the Corporation shall
make or issue, or shall fix a record date for the determination of holders of
Common Stock entitled to receive, a dividend or other distribution with respect
to the Common Stock payable in (i) securities of the Corporation other than
shares of Common Stock, or (ii) other assets (excluding cash dividends or
distributions), then and in each such event provision shall be made so that the
Holder shall receive upon exercise of this Warrant in addition to the number of
shares of Common Stock receivable thereupon, the number of securities or such
other assets of the Corporation which they would have received had this Warrant
been exercised immediately prior to such event.

      3.4 Adjustment Upon Capital Reorganization or Reclassification. If the
Common Stock shall be changed into the same or different number of shares of any
other class or classes of capital stock, whether by capital reorganization,
recapitalization, reclassification or otherwise (other than an Extraordinary
Common Stock Event provided for in Section 3.2, a dividend or other distribution
provided for in Section 3.3, or a merger or other transaction provided for in
Section 3.5), then and in each such event, the Holder shall have the right
thereafter to receive, upon exercise of this Warrant, in lieu of the number of
shares of Common Stock which the Holder would otherwise have been entitled to
receive, the kind and amount of shares of capital stock and other securities and
property receivable upon such reorganization, recapitalization, reclassification
or other change by the holders of the number of shares of Common Stock for which
this Warrant could have been exercised immediately prior to such reorganization,
recapitalization, reclassification or change, all subject to further adjustment
as provided herein.

      3.5 Adjustment for Merger or Reorganization, etc.

            (a) In case of any consolidation or merger of the Corporation with
or into another corporation or the sale of all or substantially all of the
assets of the Corporation to another corporation: if the surviving entity shall
consent in writing to the following provisions,

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then this Warrant shall thereafter be exercisable for the kind and amount of
shares of stock or other securities or property to which a holder of the number
of shares of Common Stock of the Corporation deliverable upon exercise of this
Warrant would have been entitled upon such consolidation, merger or sale; and,
in such case, appropriate adjustment (as determined in good faith by the Board
of Directors) shall be made in the application of the provisions in this Section
3 with respect to the rights and interest thereafter of the Holder of this
Warrant, to the end that the provisions set forth in this Section 3 (including
provisions with respect to changes in and other adjustments of the Warrant
Price) shall thereafter be applicable, as nearly as reasonably possible, in
relation to any shares of stock or other property thereafter deliverable upon
the exercise of this Warrant.

            (b) The provision for such rights on each of this Warrant shall be a
condition precedent to the consummation by the Corporation of any such
transaction.

      3.6 Certificate as to Adjustments; Notice by Corporation. In each case of
an adjustment or readjustment of the Warrant Price, the Corporation at its
expense will furnish the Holder with a certificate prepared by the Treasurer or
Chief Financial Officer of the Corporation, showing such adjustment or
readjustment, and stating in detail the facts upon which such adjustment or
readjustment is based.

      3.7 Further Adjustments. In the event that, as a result of an adjustment
made pursuant to this Section 3, the Holder shall become entitled to receive any
shares of capital stock of the Corporation other than shares of Common Stock,
the number of such other shares so receivable upon exercise of this Warrant
shall be subject thereafter to adjustment from time to time in a manner and on
terms as nearly equivalent as practicable to the provisions with respect to the
Warrant Shares contained in this Warrant.

      3.8 Adjustment of Number of Shares. Upon each adjustment in the Warrant
Price pursuant to this Section 3, the number of Warrant Shares purchasable
hereunder shall be adjusted, to the nearest whole share, to the product obtained
by multiplying the number of Warrant Shares purchasable immediately prior to
such adjustment by a fraction, (i) the numerator of which shall be the Warrant
Price immediately prior to such adjustment, and (ii) the denominator of which
shall be the Warrant Price immediately thereafter.

      4. Transfer Taxes. The Corporation will pay any documentary stamp taxes
attributable to the initial issuance of Warrant Shares issuable upon the
exercise of the Warrant; provided, however, that the Corporation shall not be
required to pay any tax or taxes which may be payable in respect of any transfer
involved in the issuance or delivery of any certificates for Warrant Shares in a
name other than that of the registered holder of this Warrant in respect of
which such shares are issued, and in such case, the Corporation shall not be
required to issue or deliver any certificate for Warrant Shares or any Warrant
until the person requesting the same has paid to the Corporation the amount of
such tax or has established to the Corporation's reasonable satisfaction that
such tax has been paid.

      5. Mutilated or Missing Warrants. In case this Warrant shall be mutilated,
lost, stolen, or destroyed, the Corporation shall issue in exchange and
substitution of and upon cancellation of the mutilated Warrant, or in lieu of
and substitution for the Warrant lost, stolen or

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destroyed, a new Warrant of like tenor and for the purchase of a like number of
Warrant Shares, but only upon receipt of evidence reasonably satisfactory to the
Corporation of such loss, theft or destruction of the Warrant, and with respect
to a lost, stolen or destroyed Warrant, reasonable and customary indemnity or
bond with respect thereto, if requested by the Corporation.

      6. Fractional Shares. No fractional shares of Common Stock shall be issued
in connection with any exercise or cashless exercise hereunder, and in lieu of
any such fractional shares the Corporation shall make a cash payment therefor to
the Holder (or such other person or persons as directed by the Holder, subject
to compliance with all applicable laws) based on the Fair Market Value of a
share of Common Stock on the date of exercise or cashless exercise of this
Warrant.

      7. Compliance with Securities Act and Legends. The Holder, by acceptance
hereof, agrees that it will not offer, sell or otherwise dispose of this
Warrant, or any shares of Common Stock to be issued upon exercise hereof except
under circumstances which will not result in a violation of the Securities Act
of 1933, as amended, or the rules and regulations promulgated thereunder, as
amended (the "1933 ACT"), or any state's securities laws. All shares of Common
Stock issued upon exercise of this Warrant (unless registered under the 1933
Act) shall be stamped or imprinted with a legend as follows:

            THIS SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
            REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"),
            OR ANY OTHER SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD,
            TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF (1) AN
            EFFECTIVE REGISTRATION STATEMENT COVERING THESE SECURITIES UNDER THE
            ACT AND ANY OTHER APPLICABLE SECURITIES LAWS, OR (2) AN OPINION OF
            COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION THAT SUCH
            REGISTRATION IS NOT REQUIRED.

      8. Rights as a Stockholder. Except as expressly provided in this Warrant,
no Holder, as such, shall be entitled to vote or receive dividends or be deemed
the holder of Common Stock or any other securities of the Corporation which may
at any time be issuable on the exercise hereof for any purpose, nor shall
anything contained herein be construed to confer upon the Holder, as such, any
of the rights of a stockholder of the Corporation or any right to vote for the
election of the directors or upon any matter submitted to stockholders at any
meeting thereof, or to receive notice of meetings, or to receive dividends or
subscription rights or otherwise, until this Warrant shall have been exercised
and the Warrant Shares purchasable upon the exercise hereof shall have become
deliverable, as provided herein.

      9. Modification and Waiver. This Warrant and any provision hereof shall
not be changed, waived, discharged or terminated except by an instrument in
writing signed by the Corporation and the then current Holder, and such change,
waiver, discharge or termination shall be binding on any future Holder,
provided, however, that no such changes shall be applicable to

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the other warrants issued pursuant to the Purchase Agreement unless the holders
thereof expressly agree thereto in writing.

      10. Notices. Unless otherwise provided, any notice required or permitted
under this Warrant shall be given in accordance with the terms of the Purchase
Agreement.

      11. Descriptive Headings. The descriptive headings contained in this
Warrant are inserted for convenience only and do not constitute a part of this
Warrant.

      12. Governing Law. The validity, interpretation and performance of this
Warrant shall be governed by, and construed in accordance with, the laws of the
State of New York applicable to contracts made and to be performed entirely
within such State, regardless of the law that might be applied under principles
of conflicts of law.

      13. Acceptance. Receipt and execution of this Warrant by the Holder hereof
shall constitute acceptance of and agreement to the foregoing terms and
conditions.

      14. Identity of Transfer Agent. The Transfer Agent for the Common Stock is
Pacific Stock Transfer Company. Upon the appointment of any subsequent transfer
agent for the Common Stock or other shares of the Corporation's capital stock
issuable upon the exercise of the rights of purchase represented by this
Warrant, the Corporation will mail to the Holder a statement setting forth the
name and address of such transfer agent.

      15. No Impairment of Rights. The Corporation will not, by amendment of its
Certificate of Incorporation or through any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms
and in the taking of all such action as may be necessary or appropriate in order
to protect the rights of the holder of this Warrant against material impairment.

      16. Assignment. Subject to the terms hereof and compliance with applicable
federal and state securities laws, this Warrant may be transferred by the Holder
with respect to any or all of the Warrant Shares then purchasable hereunder.
Upon surrender of this Warrant to the Corporation, together with a properly
endorsed notice of transfer (an "ASSIGNMENT FORM"), for transfer of this Warrant
in its entirety by the Holder, the Corporation shall issue a new warrant of the
same denomination to the designated transferee. Upon surrender of this Warrant
to the Corporation, together with a properly endorsed Assignment Form, by the
Holder for transfer with respect to a portion of the Warrant Shares then
purchasable hereunder, the Corporation shall issue a new warrant to the
designated transferee, in such denomination as shall be requested by the Holder
hereof, and shall issue to such Holder a new warrant covering the number of
Warrant Shares in respect of which this Warrant shall not have been transferred.
In addition to, and not in limitation of, the foregoing, a Holder that is a
corporation, a partnership or a limited liability company, may distribute any
portion of this Warrant to its respective shareholders, partners or members.
Unless and until the provisions for assignment set forth herein have been fully
complied with, the Corporation may treat the last registered Holder as the
absolute owner of this Warrant for all purposes, notwithstanding any notice to
the contrary.

                                      -11-
<PAGE>

      17. Limitation on Exercise. Notwithstanding anything to the contrary
contained herein, the number of shares of Common Stock that may be acquired by
the Holder upon any exercise of this Warrant (or otherwise in respect hereof)
shall be limited to the extent necessary to insure that, following such exercise
(or other issuance), the total number of shares of Common Stock then
beneficially owned by such Holder and its Affiliates and any other Persons whose
beneficial ownership of Common Stock would be aggregated with the Holder's for
purposes of Section 13(d) of the Exchange Act, does not exceed 9.99% of the
total number of issued and outstanding shares of Common Stock (including for
such purpose the shares of Common Stock issuable upon such exercise). For such
purposes, beneficial ownership shall be determined in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
Each delivery of an Exercise Notice hereunder will constitute a representation
by the Holder that it has evaluated the limitation set forth in this paragraph
and determined that issuance of the full number of Warrant Shares requested in
such Exercise Notice is permitted under this paragraph. This provision shall not
restrict the number of shares of Common Stock which a Holder may receive or
beneficially own in order to determine the amount of securities or other
consideration that such Holder may receive in the event of a merger or other
business combination or reclassification involving the Corporation as
contemplated in Section 3 of this Warrant. By written notice to the Corporation,
the Holder may waive the provisions of this Section but any such waiver will not
be effective until the 61st day after such notice is delivered to the
Corporation.

                  [Remainder of Page Left Intentionally Blank]

                                      -12-
<PAGE>

      IN WITNESS WHEREOF, the Corporation and the Holder have caused this
Warrant to be executed on their behalf by one of their officers thereunto duly
authorized.

                                   WARP TECHNOLOGY HOLDINGS, INC.

                                   By:__________________________________________

                                   Name:________________________________________

                                   Title:_______________________________________

                           [Signature Page -- Warrant]

<PAGE>

                                   APPENDIX A

                               NOTICE OF EXERCISE

To:   WARP TECHNOLOGY HOLDINGS, INC.

1. The undersigned hereby irrevocably elects to purchase [_____] shares of
Common Stock of WARP TECHNOLOGY HOLDINGS, INC. pursuant to the terms of the
attached Warrant, and tenders herewith payment of the purchase price of such
shares in full, by [cash, certified check/wire transfer, or surrender of the
originally executed Warrant] [SELECT THE APPLICABLE METHOD OF PAYMENT].

2. Please issue a certificate or certificates representing said shares in the
name of the undersigned or in such other name or names as are specified below:

_______________________________
_______________________________
               (Name)

_______________________________
               (Address)

_________________________ (Signature)
__________________(Date)

3. Please issue a new Warrant of equivalent form and tenor for the unexercised
portion of the attached Warrant in the name of the undersigned or in such other
name as is specified below:

________________________________________

Date: __________________________________

(Warrantholder) ________________________

Name: (Print) __________________________

By:_____________________________________

                                       A-1

<PAGE>

                                   APPENDIX B

                            NET ISSUE ELECTION NOTICE

To: WARP TECHNOLOGY HOLDINGS, INC.

Date:[_________________________]

      The undersigned hereby elects under Section 1(c) of this Warrant to
surrender the right to purchase [____________] shares of Common Stock pursuant
to this Warrant and hereby requests the issuance of [_____________] shares of
Common Stock. The certificate(s) for the shares issuable upon such net issue
election shall be issued in the name of the undersigned or as otherwise
indicated below.

________________________________________
Signature

________________________________________
Name for Registration

________________________________________
Mailing Address

                                       B-1<PAGE>

                                                                    EXHIBIT 4.08

THE SECURITIES REPRESENTED HEREBY MAY NOT BE TRANSFERRED UNLESS (I) SUCH
SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT TO THE SECURITIES ACT OF 1933,
AS AMENDED, (II) SUCH SECURITIES MAY BE SOLD PURSUANT TO RULE 144, OR (III) THE
COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT
SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE SECURITIES ACT
OF 1933 OR QUALIFICATION UNDER APPLICABLE STATE SECURITIES LAWS.

                           CONVERTIBLE PROMISSORY NOTE

$__________                                                       Maturity Date:

Issue Date:  [_________], 2005                                 [_________], 2005

      FOR VALUE RECEIVED, Warp Technology Holdings, Inc. (the "Company") hereby
promises to pay to the order of ________________________ or its successors,
assigns and legal representatives (the "Holder"), at
___________________________, or at such other location as the Holder may
designate from time to time, the aggregate principal sum of $______________
(___________ Dollars), in lawful money of the United States of America, together
with interest from the date set forth above on the unpaid principal balance of
this Note at an annual rate of six percent (6%), compounded annually, calculated
on a 360-day per year basis, based on the actual number of days elapsed.

      1. Company Notes. This Note (the "Note") is one of a series of Notes (the
"Company Notes") of like tenor in an aggregate principal amount of up to
$14,000,000 (Fourteen Million Dollars) issued by the Company pursuant to the
terms of a certain Subscription Agreement (the "Subscription Agreement").
Capitalized terms used herein shall have the respective meanings ascribed
thereto in the Subscription Agreement unless otherwise defined herein.

      2. Maturity Date. Subject to the provisions of Sections 5 and 6 hereof,
the aggregate principal amount of this Note and all accrued interest thereon
shall be due and payable on [ ], 2005 (the date that is forty-five (45) days
after the Issue Date of this Note) (such date, the "Maturity Date"). If the
Conversion Date (as defined in Section 5 hereof) has not occurred by the
Maturity Date, the Company shall pay to the Holder on such Maturity Date a
penalty in cash equal to ten percent (10%) of the principal amount of this Note.

      3. Prepayment. This Note may not be prepaid without the prior written
consent of the Holder.

<PAGE>

      4. Covenants. The Company agrees that, so long as any amount payable under
this Note remains unpaid, it will not, and will cause its Subsidiaries not to,
without the prior written consent of the Holder:

            (a) create, incur, guarantee, issue, assume or in any manner become
liable in respect of, any obligation (i) for borrowed money, other than trade
payables incurred in the ordinary course of business, (ii) evidenced by bonds,
debentures, notes, or other similar instruments, (iii) in respect of letters of
credit or other similar instruments (or reimbursement obligations with respect
thereto), except letters of credit or other similar instruments issued to secure
payment of trade payables arising in the ordinary course of business consistent
with past practices, (iv) to pay the deferred purchase price of property or
services, except trade payables arising in the ordinary course of business
consistent with past practices, (v) as lessee under capitalized leases, (vi)
secured by a Lien (as defined below) on any asset of the Company or a
Subsidiary, whether or not such obligation is assumed by the Company or such
Subsidiary and (vii) of any other person or entity, other than indebtedness for
borrowed money existing on the date of this Note or other obligations or other
liabilities incurred in connection with Liens permitted to be incurred under
Section 4(b)(vi) or 4(b)(vii) hereof;

            (b) create, incur, assume or suffer to exist any lien, claim,
pledge, charge, security interest or encumbrance of any kind ("Liens") on any
asset now owned or hereafter acquired by it, except:

                  (i) Liens existing on the date hereof;

                  (ii) Liens for taxes or assessments and similar charges either
(x) not delinquent or (y) contested in good faith by appropriate proceedings and
as to which the Company shall have set aside on its books adequate reserves;

                  (iii) Liens incurred or pledges and deposits in connection
with workers' compensation, unemployment insurance and other social security
benefits, or securing the performance bids, tenders, leases, contracts (other
than for the repayment of borrowed money), statutory obligations, progress
payments, surety and appeal bonds and other obligations of like nature, incurred
in the ordinary course of business;

                  (iv) Liens imposed by law, such as mechanics', carriers',
warehousemen's, materialmen's and vendors' Liens, incurred in good faith in the
ordinary course of business;

                  (v) zoning restrictions, easements, licenses, covenants,
reservations, restrictions on the use of real property or minor irregularities
of title incident thereto which do not in the aggregate materially detract from
the value of the property or assets of the Company and its Subsidiaries taken as
a whole or impair the use of such property in the operation of the Company's or
its Subsidiaries' businesses; and

                                      -2-
<PAGE>

                  (vi) other Liens incidental to the conduct of the business of
the Company or a Subsidiary or the ownership of its or their respective property
and assets which were not incurred in connection with the borrowing of money,
and which do not in the aggregate materially detract from the value of its
property or assets; or

           (c) declare or make (i) any dividend, distribution or other payment
on any capital stock (other than the payment of dividends on the Company's
Series B Preferred Stock and Series B-2 Preferred Stock, which are payable in
shares of Common Stock upon the conversion of such Series B Preferred Stock and
Series B-2 Preferred Stock, and the payment of dividends on the Company's Series
C Preferred Stock, which are payable in either cash or shares of Common Stock,
at the election of the Company) or (ii) any payment on account of the purchase,
redemption, retirement or acquisition of (A) any capital stock or (B) any
option, warrant or other right to acquire capital stock.

      5. Conversion.

      (a) This Note shall automatically and with no action on the part of the
Holder convert into (i) such number of fully paid and non-assessable shares of
the Company's Series C Preferred Stock equal to the aggregate outstanding
principal amount due under this Note plus the amount of all accrued but unpaid
interest on this Note divided by the Applicable Conversion Price (as defined in
the Certificate of Designations, Preferences and Rights (the "Certificate of
Designations") pertaining to the Company's Series C Preferred Stock) and (ii)
warrants (the "Warrants") to purchase a number of shares of the Company's Common
Stock equal to such number of shares of Series C Preferred Stock upon (A) the
closing of the acquisition by the Company of Gupta Technologies, LLC and (B) the
effectiveness of a Certificate of Amendment to the Company's Articles of
Incorporation which increases the authorized number of shares of the Company's
Common Stock and the Certificate of Designations. The first date on which all of
the events described in clauses (A) and (B) of the preceding sentence occur is
referred to as the "Conversion Date". The Company shall promptly, but in no
event more than two (2) business days after the Conversion Date, notify the
Holder in writing of the Conversion Date.

      (b) Promptly after the Conversion Date, the Holder of this Note shall
deliver this Note (or, in lieu thereof, an appropriate affidavit of loss in the
event this Note shall have been lost or destroyed) to the Company at its
principal office (or such other office or agency of the Company as the Company
may designate by notice in writing to the Holder), together with a statement of
the name or names (with address) in which the certificates for shares of Series
C Preferred Stock and Warrants shall be issued. Promptly following the surrender
of this Note (or, in lieu thereof, an appropriate affidavit of loss in the event
this Note shall have been lost or destroyed), but in no event more than five (5)
business days thereafter, the Company shall issue and deliver, or caused to be
issued and deliver, to the Holder, registered in such name or names as the
Holder may direct in writing, certificates for the number of whole shares of
Series C Preferred Stock and Warrants issuable upon conversion of this Note.
Such conversion shall be deemed to have been effected as of the close of
business on the Conversion Date and, at such time,

                                      -3-
<PAGE>

the rights of the Holder shall cease with respect to this Note and the person or
persons in whose name or names any certificates for shares of Series C Preferred
Stock and Warrants shall be issuable upon conversion of this Note shall be
deemed to have become the holder or holders of record of such shares of Series C
Preferred Stock and Warrants.

      (c) No fractional shares of Series C Preferred Stock shall be issued upon
conversion of this Note. If any fractional share of Series C Preferred Stock
would, except for the preceding sentence, be delivered upon conversion of this
Note, the Company, in lieu of delivering such fractional share, shall pay to the
Holder an amount in cash equal to the Applicable Conversion Price (as defined in
the Certificate of Designations) multiplied by such fractional share.

      (d) Prior to the Conversion Date, the Company shall not take any action or
agree or obligate itself to take any action that would require the approval of
the holders of the Series C Preferred Stock pursuant to the Certificate of
Designations.

      (e) The Company shall use its best efforts to ensure that the Conversion
Date occurs as promptly as possible.

      6. Events of Default. Each of the following shall constitute an "Event of
Default" hereunder:

            (a) The Company shall fail to pay the principal amount of this Note
and accrued interest thereon when due and payable (whether at the Maturity Date,
upon acceleration or otherwise), it being understood that the conversion of this
Note in accordance with Section 5 hereof shall not be deemed a failure to pay
hereunder;

            (b) The Company shall fail to pay any other amount under this Note
or the Subscription Agreement or any amounts under any other outstanding notes
of the Company or pursuant to the Senior Note and Warrant Purchase Agreement or
the documents described therein when due and payable (whether at the maturity
date therefor, upon acceleration or otherwise) and such failure shall continue
for a period of five (5) business days;

            (c) Any "Event of Default" shall occur under any other Transaction
Document;

            (e) Any representation or warranty made by the Company in the
Subscription Agreement or other Transaction Documents shall have been untrue or
misleading in any material respect when made;

            (f) The Company fails to make a required payment or payments on
indebtedness for borrowed money of Twenty-Five Thousand Dollars ($25,000) or
more in aggregate principal amount;

                                      -4-
<PAGE>

            (g) There shall have occurred an acceleration of the stated maturity
of any indebtedness for borrowed money of the Company or any Subsidiary of
Twenty-Five Thousand Dollars ($25,000) or more in aggregate principal amount
(which acceleration is not rescinded, annulled or otherwise cured within ten
(10) days of receipt by the Company or such Subsidiary of notice of such
acceleration);

            (h) Any material covenant, agreement or obligation of the Company in
any Transaction Document shall cease to be enforceable, or shall be determined
to be unenforceable in any material respect;

            (i) The Company shall sell, transfer, lease or otherwise dispose of
all or any substantial portion of its assets in one transaction or a series of
related transactions, participate in any share exchange, consummate any
recapitalization, reclassification, reorganization or other business combination
transaction or adopt a plan of liquidation or dissolution or agree to do any of
the foregoing;

            (j) One or more judgments in an aggregate amount in excess of Fifty
Thousand Dollars ($50,000) shall have been rendered against the Company or any
Subsidiary and such judgment or judgments remain undischarged or unstayed for a
period of sixty (60) days after such judgment or judgments become or became, as
the case may be, final and unappealable;

            (k) The Company shall have applied for or consented to the
appointment of a custodian, receiver, trustee or liquidator, or other
court-appointed fiduciary of all or a substantial part of its properties; or a
custodian, receiver, trustee or liquidator or other court appointed fiduciary
shall have been appointed with or without the consent of the Company; or the
Company is generally not paying its debts as they become due by means of
available assets, or has made a general assignment for the benefit of creditors;
or the Company files a voluntary petition in bankruptcy, or a petition or an
answer seeking reorganization or an arrangement with creditors or seeking to
take advantage of any insolvency law, or an answer admitting the material
allegations of a petition in any bankruptcy, reorganization or insolvency
proceeding or has taken action for the purpose of effecting any of the
foregoing; or if, within sixty (60) days after the commencement of any
proceeding against the Company seeking any reorganization, rehabilitation,
arrangement, composition, readjustment, liquidation, dissolution or similar
relief under the Federal bankruptcy code or similar order under future similar
legislation, the appointment of any trustee, receiver, custodian, liquidator, or
other court-appointed fiduciary of the Company or of all or any substantial part
of its properties, such order or appointment shall not have been vacated or
stayed on appeal or otherwise or if, within sixty (60) days after the expiration
of any such stay, such order or appointment shall not have been vacated
(collectively, "Insolvency Events"); or

            (l) Any Insolvency Event shall have occurred with respect to any
Subsidiary.

                                      -5-
<PAGE>

            Upon the occurrence of any Event of Default, the Holder may, at its
option, declare all amounts due hereunder to be due and payable immediately and,
upon any such declaration, the same shall become and be immediately due and
payable. If an Insolvency Event occurs with respect to the Company or any
Subsidiary, then all amounts due hereunder shall become immediately due and
payable without any declaration or other act on the part of the Holder. Upon the
occurrence of any Event of Default, the Holder may, in addition to declaring all
amounts due hereunder to be immediately due and payable, pursue any available
remedy, whether at law or in equity. If an Event of Default occurs, the Company
shall pay to the Holder the reasonable attorneys' fees and disbursements and all
other reasonable out-of-pocket costs incurred by the Holder in order to collect
amounts due and owing under this Note or otherwise to enforce the Holder's
rights and remedies hereunder.

      7. Unsecured Obligation. This Note is unsecured.

      8. Waiver of Presentment, Demand and Dishonor. The Company hereby waives
presentment for payment, protest, demand, notice of protest, notice of
non-payment and diligence with respect to this Note, and waives and renounces
all rights to the benefit of any statute of limitations or any moratorium,
appraisement, exemption or homestead now provided or that hereafter may be
provided by any federal or applicable state statute, including but not limited
to exemptions provided by or allowed under the Federal Bankruptcy Code, both as
to itself and as to all of its property, whether real or personal, against the
enforcement and collection of the obligations evidenced by this Note and any and
all extensions, renewals and modifications hereof.

      No failure on the part of the Holder hereof to exercise any right or
remedy hereunder with respect to the Company, whether before or after the
happening of an Event of Default, shall constitute a waiver of any future Event
of Default or of any other Event of Default. No failure to accelerate the debt
of the Company evidenced hereby by reason of an Event of Default or indulgence
granted from time to time shall be construed to be a waiver of the right to
insist upon prompt payment thereafter; or shall be deemed to be a novation of
this Note or a reinstatement of such debt evidenced hereby or a waiver of such
right of acceleration or any other right, or be construed so as to preclude the
exercise of any right the Holder may have, whether by the laws of the state
governing this Note, by agreement or otherwise; and the Company hereby expressly
waives the benefit of any statute or rule of law or equity that would produce a
result contrary to or in conflict with the foregoing.

      9. Amendment; Waiver. Any term of this Note may be amended or waived upon
the written consent of the Company and the holders of Company Notes representing
at least 50% of the principal amount of Company Notes then outstanding (the
"Majority Holders"); provided, that (x) any such amendment or waiver must apply
to all outstanding Company Notes; and (y) without the consent of the Holder
hereof, no amendment or waiver shall (i) subject to Section 2(b) hereof, change
the Maturity Date of this Note, (ii) reduce the principal amount of this Note or
the interest rate due hereon, or (iii) change the place of payment of this Note.
No such waiver or consent on any one

                                      -6-
<PAGE>

instance shall be construed to be a continuing waiver or a waiver in any other
instance unless it expressly so provides.

      10. Transfers. The Holder shall have the right to transfer this Note or
any interest herein in any transaction meeting the requirements of applicable
securities laws.

      11. Subordination. This Note is subordinate to the payment of all other
promissory notes of the Company issued on the date hereof (collectively, the
"Senior Notes"). No payment of principal or interest on this Note may be made,
and no action may be brought to collect on this Note, unless and until the
Senior Notes have been indefeasibly paid in full, provided, however, that
nothing contained herein shall prohibit the conversion of this Note in
accordance with Section 5 hereof.

      12. Governing Law; Consent to Jurisdiction. This Note shall be binding
upon the Company and its successors, assigns and legal representatives. The
validity, construction and interpretation of this Note will be governed, and
construed in accordance with, the laws of the State of New York. EACH OF THE
COMPANY AND, BY ITS ACCEPTANCE HEREOF, THE HOLDER HEREBY WAIVES ANY RIGHT TO
REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS NOTE AND
REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

      Each of the Company and, by its acceptance of this Note, the Holder
irrevocably submits to the exclusive jurisdiction of the courts of the State of
New York located in New York County and the United States District Court for the
Southern District of New York for the purpose of any suit, action, proceeding or
judgment relating to or arising out of this Note and the transactions
contemplated hereby. Service of process in connection with any such suit, action
or proceeding may be served on the Company and the Holder anywhere in the world
by the same methods as are specified for the giving of notices under the
Subscription Agreement. Each of the Company and, by its acceptance of this Note,
the Holder irrevocably consents to the jurisdiction of any such court in any
such suit, action or proceeding and to the laying of venue in such court. Each
of the Company and, by its acceptance of this Note, the Holder irrevocably
waives any objection to the laying of venue of any such suit, action or
proceeding brought in such courts and irrevocably waives any claim that any such
suit, action or proceeding brought in any such court has been brought in an
inconvenient forum.

ATTEST:                                    WARP TECHNOLOGY HOLDINGS, INC.

________________________                      By: _____________________________
Name:                                         Name:
                                              Title:

Dated: [_______________], 2005

                                      -7-

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