Document:

Exhibit 4.1

      THIS PROMISSORY  NOTE AND THE SECURITIES  OBTAINABLE UPON CONVERSION
      HEREOF  (COLLECTIVELY,  THE  "SECURITIES")  HAVE NOT BEEN REGISTERED
      UNDER THE  SECURITIES  ACT OF 1933, AS AMENDED  ("THE ACT"),  OR THE
      SECURITIES  LAWS OF ANY STATE.  THE  SECURITIES  MAY NOT BE PLEDGED,
      SOLD,  ASSIGNED  OR  TRANSFERRED  EXCEPT  PURSUANT  TO AN  EFFECTIVE
      REGISTRATION   STATEMENT   UNDER  SUCH  ACT  AND  APPLICABLE   STATE
      SECURITIES  LAWS OR PURSUANT  TO AN  APPLICABLE  EXEMPTION  FROM THE
      REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS.

                       SENIOR CONVERTIBLE PROMISSORY NOTE

U.S. $________                                                    March __, 2005

      FOR VALUE RECEIVED, Drinks Americas Holdings, Ltd., a Delaware corporation
(the  "Company"),  hereby  promises  to  pay  to the  order  of  ___________(the
"Lender")  the  principal  amount of  _____________  ($_________)  Dollars  (the
"Principal  Amount"),  together with interest on the Principal Amount under this
senior  convertible  promissory  note (this "Note") at the per annum rate of ten
(10%)  percent  (calculated  daily on the  basis of a  360-day  year and  actual
calendar  days  elapsed).  Subject to  conversion  or  acceleration  as provided
herein,  the Principal Amount and accrued interest on this Note shall become due
and payable in one installment on the first anniversary of the date of this Note
(the "Maturity Date").

      Both the  Principal  Amount and accrued  interest  shall be paid in lawful
money of the United  States of  America  to the  Lender at c/o Sloan  Securities
Corp.,  444 Madison  Avenue,  23rd Floor,  New York, New York 10022,  or at such
other  address as the Lender may  designate by notice in writing to the Company,
in immediately available funds.

      If any payment hereunder falls due on a Saturday, Sunday or legal holiday,
it shall be payable on the next succeeding business day and such additional time
shall be included in the computation of interest.

      This  Note is one of a  series  of  Senior  Convertible  Promissory  Notes
containing  substantially identical terms and conditions issued pursuant to that
certain  Securities  Purchase  Agreement  by and between the Company and certain
Lenders of even date herewith (the  "Securities  Purchase  Agreement"),  some of
which  Lenders will execute the  Securities  Purchase  Agreement  after the date
hereof (the "Lenders").  All capitalized terms not defined herein shall have the
meanings ascribed thereto in the Securities Purchase Agreement.

      1. Senior. The indebtedness  evidenced by this Note and the payment of the
Principal Amount and interest  thereof shall be Senior (as hereinafter  defined)
to, and have priority in right of payment over, all indebtedness of the Company.
"Senior"  shall be  deemed to mean  that,  in the  event of any  default  in the
payment  of the  obligations  represented  by this  Note or of any  liquidation,
insolvency,  bankruptcy,  reorganization, or similar proceedings relating to the
Company, except for the Company's obligations to its secured creditors, all sums
payable on this Note, shall first be paid in full, with interest, if any, before
any payment is made upon any other indebtedness,  now outstanding or hereinafter
incurred,  and, in any such event,  any payment or distribution of any character
which shall be made in respect of any other  indebtedness  of the Company  other
than  secured  obligations,  shall be paid  over to the  holder of this Note for
application to the payment hereof,  unless and until the obligations  under this
Note (which shall mean the Principal  Amount and other  obligations  arising out
of, premium, if any, interest on, and any costs and expenses payable under, this
Note) shall have been paid and satisfied in full. The Company will not issue any
secured  debt other  than under its  existing  credit  facilities  to any person
without the consent of the Lender.
<PAGE>

      2. Conversion.

            (a)  Conversion.  In the event  the  Company  consummates  a debt or
equity  financing of at least  $6,000,000  on or before the  Maturity  Date with
respect to which Sloan  Securities  Corp.  acts as the broker dealer (the "Sloan
Financing"),  at the Lender's  option,  the entire principal amount on this Note
shall be converted ("Exchange  Conversion") into the Company's equity securities
("Sloan Equity  Securities")  or debt  securities  ("Sloan Debt  Securities" and
together with the Sloan Equity Securities,  the "Sloan  Securities") sold in the
Sloan  Financing.  The Company  shall notify the Lender in writing ten (10) days
before the expected first closing of the Sloan Financing and if the Lender wants
to effect the Exchange  Conversion it must notify the Company no later that five
(5) days before the closing date. If so elected,  the Exchange  Conversion shall
occur at the first closing of the Sloan Financing ("First Closing"). Lenders who
do not  elect  the  Exchange  Conversion  within  the  requisite  five  (5) days
notification period will have permanently waived the Exchange Conversion option.
The  number of shares of Sloan  Equity  Securities  to be issued to a Lender who
elects  the  Exchange  Conversion  shall be equal to the  quotient  obtained  by
dividing  (i) the  entire  principal  amount  of this Note by (ii) the price per
share  of the  Sloan  Equity  Securities  ("Sloan  Conversion  Price"),  and the
issuance of such shares upon such conversion shall be upon the terms and subject
to the  conditions  applicable to the Sloan  Financing.  In the event Sloan Debt
Securities  are issued in the Sloan  Financing,  the  Lender who has  elected to
convert shall  exchange this Note and shall be issued the Sloan Debt Security in
an amount equal to the entire principal amount of this Note.

            (b)   Discretionary   Conversion.   In  addition  to  the   Exchange
Conversion,  the Lender  shall have the right  ("Discretionary  Conversion")  to
convert all of the principal  amount of this Note into Common Stock.  The number
of shares of Common  Stock to be issued upon such  conversion  shall be equal to
the quotient obtained by dividing (i) the amount converted by the Lender by (ii)
the lower of the price per share in the Sloan  Financing  or $0.45  ("Conversion
Price").  Any fraction of a share  resulting  from these  calculations  shall be
rounded upward to the whole share.  The Company  covenants to cause such shares,
when issued  pursuant to this Section 2(c), to be fully paid and  nonassessable,
and free from all taxes, liens and charges with respect to the issuance thereof,
other  than any  taxes,  liens or charges  not  caused by the  Company.  Accrued
interest for purposes of all conversion events shall be paid in cash.

            (c) Mechanics and Effect of Conversion.

                                      -2-
<PAGE>

                  (i) Exchange Conversion. A Lender who has elected the Exchange
Conversion shall surrender this Note at the First Closing, duly endorsed, at the
principal offices of the Company.  At its expense,  the Company will, as soon as
practicable  thereafter,  issue and deliver to such Lender,  at its  address,  a
certificate  or  certificates  for the number of Sloan Equity  Securities  or an
instrument or instruments for the principal  amount of the Sloan Debt Securities
to which such Lender is entitled upon such  conversion.  The Lender  understands
and agrees that the  conversion of the Notes into Sloan  Securities  may require
the Lender's execution of certain  agreements  relating to the purchase and sale
of such  securities as well as  registration  rights,  if any,  relating to such
Sloan  Securities,  and the  Company  agrees  that  upon the  execution  of such
agreements,   the  Lender  shall  receive  rights,  preferences  and  privileges
identical to those received by others  purchasing  like securities at such time.
At the time of the  Exchange  Conversion,  this Note,  the  Securities  Purchase
Agreement and the  Registration  Rights  Agreement  will  terminate and be of no
further force or effect.

                  (ii)  Discretionary  Conversion.  To exercise a  Discretionary
Conversion, the Lender shall surrender its Note, duly endorsed,  together with a
written  conversion  notice  to the  Company  at its  principal  office.  At its
expense, the Company will, as soon as practicable thereafter,  issue and deliver
to such Lender, at its address,  a certificate or certificates for the number of
shares to which such Lender is entitled upon such conversion. This Note shall be
deemed to have been converted  immediately prior to the close of business on the
date of giving of such notice and the Lender  shall be treated for all  purposes
as the record holder of the Common Stock  deliverable upon such conversion as of
the close of business on such date.

            (d) No  Impairment.  The  Company  will  not,  by  amendment  of its
Articles  of  Incorporation  or through  any  reorganization,  recapitalization,
transfer  of  assets,  consolidation,  merger,  dissolution,  issue  or  sale of
securities or any other voluntary action,  avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed  hereunder by the
Company,  but will at all times in good faith  assist in the carrying out of all
the  provisions of this Section 2 and in the taking of all such action as may be
necessary or appropriate in order to protect the conversion rights of the Lender
of this Note against impairment.

      3.  Reservation of Shares.  The Company shall at all times have authorized
and reserved for issuance a sufficient  number of shares of its capital stock to
provide for the full conversion of this Note.

      4.  Anti-dilution.  Adjustment of Conversion  Price.  The Conversion Price
shall be adjusted from time to time as follows:

            (a)  Adjustment  of  Conversion  Price and  Number  of  Shares  upon
Issuance  of Common  Stock.  If and  whenever  on or after the date this Note is
issued,  the Company  issues or sells,  or is deemed to have issued or sold, any
shares of Common Stock (other than (i) Excluded  Securities (as defined  herein)
and Other  Securities (as defined  herein) and (ii) shares of Common Stock which
are issued or deemed to have been  issued by the Company in  connection  with an
Approved  Stock Plan (as defined  herein) or upon  exercise or conversion of the
Other  Securities)  for a  consideration  per  share  less  than  a  price  (the
"Applicable Price") equal to the Conversion Price in effect immediately prior to
such issuance or sale, then immediately  after such issue or sale the Conversion
Price then in effect shall be reduced to an amount  equal to such  consideration
per share.

                                      -3-
<PAGE>

            (b) Effect on Conversion  Price of Certain  Events.  For purposes of
determining  the  adjusted  Conversion  Price  under  Section  4(a)  above,  the
following  shall be  applicable:  (i)  Issuance  of  Options.  If after the date
hereof,  the  Company in any manner  grants any  rights,  warrants or options to
subscribe for or purchase Common Stock or convertible securities ("Options") and
the lowest price per share for which one share of Common Stock is issuable  upon
the  exercise  of  any  such  Option  or  upon  conversion  or  exchange  of any
convertible  securities  issuable  upon exercise of any such Option is less than
the  Conversion  Price then in effect,  then such share of Common Stock shall be
deemed to be outstanding  and to have been issued and sold by the Company at the
time of the  granting  or sale of such  Option  for such  price per  share.  For
purposes of this Section 4(b)(i), the lowest price per share for which one share
of Common Stock is issuable upon exercise of such Options or upon  conversion or
exchange of such convertible  securities shall be equal to the sum of the lowest
amounts of  consideration  (if any)  received or  receivable by the Company with
respect  to any one  share of  Common  Stock  upon the  granting  or sale of the
Option,  upon exercise of the Option or upon conversion or exchange of any other
convertible security other than this Note issuable upon exercise of such Option.
No further  adjustment  of the  Conversion  Price  shall be made upon the actual
issuance  of such  Common  Stock  or of such  convertible  securities  upon  the
exercise of such  Options or upon the actual  issuance of such Common Stock upon
conversion or exchange of such convertible securities.

                  (ii) Issuance of Convertible Securities. If the Company in any
manner issues or sells any convertible  securities after the date hereof and the
lowest price per share for which one share of Common Stock is issuable  upon the
conversion or exchange thereof is less than the Conversion Price then in effect,
then such share of Common  Stock shall be deemed to be  outstanding  and to have
been issued and sold by the Company at the time of the  issuance or sale of such
convertible  securities  for such  price per  share.  For the  purposes  of this
Section 4(b)(ii), the lowest price per share for which one share of Common Stock
is issuable upon such  conversion  or exchange  shall be equal to the sum of the
lowest amounts of  consideration  (if any) received or receivable by the Company
with  respect  to one share of Common  Stock  upon the  issuance  or sale of the
convertible  security  and  upon  conversion  or  exchange  of such  convertible
security.  No further  adjustment of the Conversion Price shall be made upon the
actual  issuance  of such  Common  Stock upon  conversion  or  exchange  of such
convertible  securities,  and if any  such  issue  or sale  of such  convertible
securities  is made upon  exercise of any Options  for which  adjustment  of the
Conversion Price had been or are to be made pursuant to other provisions of this
Section 4(b), no further  adjustment  of the  Conversion  Price shall be made by
reason of such issue or sale.

                  (iii)  Change in Option  Price or Rate of  Conversion.  If the
purchase price provided for in any Options,  the  additional  consideration,  if
any,  payable  upon  the  issue,  conversion  or  exchange  of  any  convertible
securities, or the rate at which any convertible securities are convertible into
or  exchangeable  for Common Stock changes at any time, the Conversion  Price in
effect at the time of such  change  shall be adjusted  to the  Conversion  Price
which  would have been in effect at such time had such  Options  or  convertible
securities provided for such changed purchase price, additional consideration or
changed  conversion  rate,  as the case may be, at the time  initially  granted,
issued or sold and the number of shares of Common Stock issuable upon conversion
of this  Debenture  shall be  correspondingly  readjusted.  For purposes of this
Section 4(b)(iii),  if the terms of any Option or convertible  security that was
outstanding  as of the date  hereof are changed in the manner  described  in the
immediately preceding sentence, then such Option or convertible security and the
Common Stock deemed issuable upon exercise, conversion or exchange thereof shall
be deemed  to have been  issued  as of the date of such  change.  No  adjustment
pursuant to this Section 4(b) shall be made if such  adjustment  would result in
an increase of the Conversion Price then in effect.

                                      -4-
<PAGE>

            (c) Effect on Conversion  Price of Certain  Events.  For purposes of
determining  the adjusted  Conversion  Price under  Sections 4(a) and 4(b),  the
following shall be applicable:

                  (i)  Calculation  of  Consideration  Received.  If any  Common
Stock,  Options or  convertible  securities are issued or sold or deemed to have
been  issued or sold for cash,  the  consideration  received  therefore  will be
deemed to be the net amount  received  by the Company  therefore.  If any Common
Stock, Options or convertible  securities are issued or sold for a consideration
other than cash, the amount of such  consideration  received by the Company will
be the  fair  value  of such  consideration,  except  where  such  consideration
consists of  marketable  securities,  in which case the amount of  consideration
received by the Company will be the market price of such  securities on the date
of  receipt of such  securities.  If any Common  Stock,  Options or  convertible
securities  are issued to the owners of the  non-surviving  entity in connection
with any merger in which the  Company  is the  surviving  entity,  the amount of
consideration  therefore  will be deemed to be the fair value of such portion of
the net assets and business of the  non-surviving  entity as is  attributable to
such Common Stock,  Options or convertible  securities,  as the case may be. The
fair value of any consideration other than cash or securities will be determined
jointly  by the  Company  and the  holders  of the Notes  representing  at least
two-thirds of the shares of Common Stock  issuable upon  conversion of the Notes
then  outstanding  which  were  issued  pursuant  to  the  Securities   Purchase
Agreement.  If such parties are unable to reach  agreement  within ten (10) days
after the occurrence of an event requiring  valuation (the  "Valuation  Event"),
the fair value of such consideration will be determined within five (5) Business
Days after the tenth (10th) day following the Valuation Event by an independent,
reputable appraiser jointly selected by the Company and the holders of the Notes
representing  at least  two-thirds  of the shares of Common Stock  issuable upon
conversion  of the Notes then  outstanding  which were  issued  pursuant  to the
Securities  Purchase  Agreement.  The  determination  of such appraiser shall be
final and binding upon all parties and the fees and  expenses of such  appraiser
shall be borne by the Company.

                  (ii) Integrated Transactions.  In case any Option is issued in
connection with the issue or sale of other  securities of the Company,  together
comprising one  integrated  transaction  in which no specific  consideration  is
allocated to such Options by the parties thereto,  the Options will be deemed to
have been issued for a consideration of $0.01.

                  (iii)  Treasury  Shares.  The number of shares of Common Stock
outstanding  at any given time does not include  shares  owned or held by or for
the account of the Company,  and the  disposition of any shares so owned or held
will be considered an issue or sale of Common Stock.

                                      -5-
<PAGE>

                  (iv) Record Date. If the Company takes a record of the holders
of Common Stock for the purpose of  entitling  them (1) to receive a dividend or
other distribution payable in Common Stock, Options or in convertible securities
or (2) to  subscribe  for or  purchase  Common  Stock,  Options  or  convertible
securities,  then such record date will be deemed to be the date of the issue or
sale of the shares of Common  Stock  deemed to have been issued or sold upon the
declaration  of such  dividend or the making of such other  distribution  or the
date of the granting of such right of subscription or purchase,  as the case may
be.

            (d) Adjustment of Conversion  Price upon  Subdivision or Combination
of Common  Stock.  If the Company at any time after the date of issuance of this
Debenture  subdivides (by any stock split, stock dividend,  recapitalization  or
otherwise) one or more classes of its outstanding  shares of Common Stock into a
greater number of shares,  any Conversion Price in effect  immediately  prior to
such subdivision  will be  proportionately  reduced.  If the Company at any time
after the date of issuance of this Debenture  combines (by combination,  reverse
stock  split or  otherwise)  one or more  classes of its  outstanding  shares of
Common Stock into a smaller  number of shares,  any  Conversion  Price in effect
immediately  prior to such combination will be  proportionately  increased.  Any
adjustment  under this  Section  4(d)  shall  become  effective  at the close of
business on the date the subdivision or combination becomes effective.

            (e) Distribution of Assets. If the Company shall declare or make any
dividend or other  distribution  of its assets (or rights to acquire its assets)
to holders of Common Stock, by way of return of capital or otherwise (including,
without  limitation,  any  distribution  of cash,  stock  or  other  securities,
property or options by way of a dividend, spin off, reclassification,  corporate
rearrangement  or other similar  transaction)  (a  "Distribution"),  at any time
after the issuance of this Note, then, in each such case any Conversion Price in
effect  immediately  prior to the close of business on the record date fixed for
the   determination   of  holders  of  Common  Stock  entitled  to  receive  the
Distribution  shall be  reduced,  effective  as of the close of business on such
record date, to a price  determined by multiplying  such  Conversion  Price by a
fraction of which (A) the numerator shall be the closing bid price of the Common
Stock on the trading day immediately  preceding such record date minus the value
of the  Distribution  (as  determined  in good faith by the  Company's  Board of
Directors)  applicable  to one share of Common  Stock,  and (B) the  denominator
shall  be the  closing  bid  price  of the  Common  Stock  on  the  trading  day
immediately preceding such record date; and

            (f) Certain Events.  If any event occurs of the type contemplated by
the  provisions  of  this  Section  4 but  not  expressly  provided  for by such
provisions  (including,  without limitation,  the granting of stock appreciation
rights,  phantom  stock rights or other rights with equity  features),  then the
Company's  Board  of  Directors  will  make  an  appropriate  adjustment  in the
Conversion  Price so as to  protect  the  rights  of the  holders  of the  Note;
provided,  except as set forth in Section 4(d), that no such adjustment pursuant
to this Section 4(f) will increase the Conversion Price as otherwise  determined
pursuant to this Section 4.

                                      -6-
<PAGE>

            (g) Notices.

                  (i) Immediately  upon any adjustment of the Conversion  Price,
the Company will give written notice thereof to the holder of this Note, setting
forth in reasonable detail, and certifying, the calculation of such adjustment.

                  (ii) The  Company  will give  written  notice to the holder of
this Note at least ten (10) days prior to the date on which the  Company  closes
its books or takes a record (A) with  respect to any  dividend  or  distribution
upon the Common Stock,  (B) with respect to any pro rata  subscription  offer to
holders of Common  Stock or (C) for  determining  rights to vote with respect to
any dissolution or  liquidation,  provided that such  information  shall be made
known to the public prior to or in  conjunction  with such notice being provided
to such holder.

            (h) Definitions.

                  (i)  "Approved  Stock Plan"  means any benefit  plan which has
been  approved by the Board of Directors  of the Company,  pursuant to which the
Company's  securities  may be issued to any  employee,  independent  contractor,
officer or director for services provided to the Company.

                  (ii) "Excluded  Securities"  means,  provided such security is
issued at a price which is greater  than or equal to the  arithmetic  average of
the Closing Bid Prices of the Common Stock for the ten (10) consecutive  trading
days immediately preceding the date of issuance,  any of the following:  (a) any
issuance by the Company of securities in connection with a strategic partnership
or a joint  venture  (the  primary  purpose  of  which  is not to  raise  equity
capital),  (b) any issuance by the Company of securities as consideration  for a
merger or consolidation or the acquisition of a business,  product,  license, or
other assets of another  person or entity and (c) options to purchase  shares of
Common  Stock,  provided (I) such options are issued after the date of this Note
to employees of the Company within thirty (30) days of such employee's  starting
his employment with the Company,  and (II) the exercise price of such options is
not less than the closing bid price of the Common  Stock on the date of issuance
of such option.

                  (iii) "Other  Securities" means (i) those options and warrants
of the Company issued prior to, and  outstanding  on, the date hereof,  (ii) the
shares of Common  Stock  issuable  on exercise  of such  options  and  warrants,
provided such options and warrants are not amended after the date hereof,  those
options, warrants and shares of Common Stock disclosed as issued or to be issued
in the Company's  Current Report on Form 8-K, dated on or about March 9, 2005, a
draft of which is attached as an exhibit to the  Securities  Purchase  Agreement
between  the  Company  and the  holder of this  Note  (among  other  investors),
provided  that the terms of such  options,  warrants  or shares of Common  Stock
issued or to be issued are as  described  in such Form 8-K, and (iii) the shares
of Common Stock issuable upon conversion of the Notes and the Warrants issued to
the  holder of this Note and other  investors  pursuant  to the said  Securities
Purchase Agreement.

                                      -7-
<PAGE>

                  (i) Consent of Holder to Sell Capital Stock or Grant  Security
Interests.  So long as any of the  principal of or interest on this Note remains
unpaid and unconverted,  the Company shall not, without the prior consent of the
Holder,  issue  or  sell  (i)  any  Common  Stock  or  Preferred  Stock  without
consideration or for a consideration  per share less than the Conversion  Price,
(ii) issue or sell any Preferred Stock, warrant,  option, right, contract, call,
or other security or instrument granting the holder thereof the right to acquire
Common Stock without  consideration  or for a consideration  per share less than
the  Conversion  Price,  (iii) enter into any security  instrument  granting the
holder a security interest in any of the assets of the Company, or (iv) file any
registration statement on Form S-8.

      5.  Further  Adjustments.  In case at any time or, from time to time,  the
Company  shall take any action that affects the class of  securities  into which
this Note may be converted  under  Sections  2(b) and (c),  other than an action
described herein,  then,  unless such action will not have a materially  adverse
effect  upon the  rights of the  Lender,  the  number of shares of such class of
securities (or other  securities)  into which this Note is convertible  shall be
adjusted  in  such a  manner  and at such  time as  shall  be  equitable  in the
circumstances.

      6.  Certificate as to Adjustments.  Upon the occurrence of each adjustment
or  readjustment  pursuant  to Section 4 or  Section 5, the  Company at its sole
expense shall promptly  compute such  adjustment or  readjustment  in accordance
with the terms hereof and furnish to the Lender a certificate setting forth such
adjustment  or  readjustment  and  showing  in detail  the facts upon which such
adjustment or readjustment is based. The Company shall, upon the written request
at any time of the  Lender,  furnish or cause to be  furnished  to Lender a like
certificate  setting forth (i) such adjustments and readjustments,  and (ii) the
number and class of securities  and the amount,  if any, of other property which
at the time would be received upon the conversion of this Note under Section 2.

      7. Change of  Control.  In the event of (i) any  transaction  or series of
related  transactions  (including any  reorganization,  merger or consolidation)
that results in the transfer of 50% or more of the  outstanding  voting power of
the Company,  and (ii) a sale of all or  substantially  all of the assets of the
Company to another person, this Note shall be automatically due and payable. The
Company will give the Lender not less than ten (10)  business days prior written
notice of the occurrence of any events referred to in this Section 7.

      8. Affirmative Covenants. The Company covenants and agrees that, while any
amounts under this Note are outstanding, it shall:

            (a) Do all things  necessary  to preserve and keep in full force and
effect its corporate existence,  including,  without limitation, all licenses or
similar  qualifications  required  by  it to  engage  in  its  business  in  all
jurisdictions  in which it is at the time so engaged;  and continue to engage in
business of the same general  type as conducted as of the date hereof;  and (ii)
continue to conduct its business  substantially as now conducted or as otherwise
permitted hereunder;

            (b) Pay and discharge  promptly when due all taxes,  assessments and
governmental  charges or levies imposed upon it or upon its income or profits or
in  respect  of its  property  before the same  shall  become  delinquent  or in
default, which, if unpaid, might reasonably be expected to give rise to liens or
charges upon such  properties or any part  thereof,  unless,  in each case,  the
validity  or amount  thereof is being  contested  in good  faith by  appropriate
proceedings  and the Company  has  maintained  adequate  reserves  with  respect
thereto in accordance with GAAP;

                                      -8-
<PAGE>

            (c) Comply in all  material  respects  with all  federal,  state and
local laws and regulations,  orders,  judgments,  decrees,  injunctions,  rules,
regulations, permits, licenses, authorizations and requirements applicable to it
(collectively,   "Requirements")  of  all  governmental   bodies,   departments,
commissions,  boards,  companies or associations insuring the premises,  courts,
authorities, officials or officers which are applicable to the Company or any of
its properties,  except where the failure to so comply would not have a material
effect  ("Material  Adverse  Effect") on the  Company or any of its  properties;
provided,  however,  that nothing provided herein shall prevent the Company from
contesting the validity or the application of any Requirements;

            (d) Keep  proper  records and books of account  with  respect to its
business activities, in which proper entries,  reflecting all of their financial
transactions, are made in accordance with GAAP;

            (e) Notify the Lender in writing, promptly upon learning thereof, of
any litigation or administrative  proceeding commenced or threatened against the
Company which involve a claim in excess of $50,000;

            (f) Use the  proceeds  from this Note for working  capital  purposes
pending consummation of the Sloan Financing;

            (g) In the event the Company  consummates an offering of its debt or
securities,  the Company  will pre-pay the balance due on the Notes (pro rata in
the event the net balance of the offering is  insufficient  to satisfy the total
then  outstanding on the Notes) to Lenders who shall accept such  pre-payment in
full or partial satisfaction of this Note, as the case may be. In such case, the
Company will provide the Lender 10-days  advance notice of its intent to pre-pay
the Note and the  Lender may within  five (5) days  after such  notice  elect to
convert all or a portion of the Note under  Section 2(b) or 2(c)  provided  such
Section(s)  is  otherwise  available  pursuant to the terms of Section 2 of this
Note; and

      9.  Negative  Covenants.  The Company  covenants and agrees that while any
amount of this Note is outstanding it will not directly or indirectly:

            (a) Guarantee,  assume or otherwise become responsible for (directly
or indirectly) the indebtedness for borrowed funds, performance, obligations, of
any person, or the agreement by the Company or any of its subsidiaries to do any
of the foregoing, without the prior written consent of the Lender;

            (b) Declare or pay,  directly and indirectly,  any dividends or make
any  distributions,  whether  in cash,  property,  securities  or a  combination
thereof,  with  respect to (whether by reduction  of capital or  otherwise)  any
shares of its capital stock (including  without  limitation any preferred stock)
or directly or  indirectly  redeem,  purchase,  retire or otherwise  acquire for
value any shares of any class of its  capital  stock or set aside any amount for
any such purpose; and

                                      -9-
<PAGE>

            (c) Sell,  transfer,  discount or otherwise  dispose of any claim or
debt owing to it, including,  without limitation, any notes, accounts receivable
or other rights to receive payment,  except for reasonable  consideration and in
the ordinary course of business.

      10. Events of Default.  The entire unpaid Principal Amount under this Note
and the  interest  due thereon  shall  forthwith  become and be due and payable,
without presentment,  demand,  protest or other notice of any kind, all of which
are hereby expressly  waived, if any one or more of the following events (herein
called "Events of Default")  shall have occurred (for any reason  whatsoever and
whether such  happening  shall be voluntary or  involuntary  or come about or be
effected by operation of law or pursuant to or in compliance  with any judgment,
decree  or  order  of  any  court  or  any  order,  rule  or  regulation  of any
administrative  or  governmental  body)  and be  continuing  at the time of such
notice,  except to the extent contemplated by the opening paragraph hereof, that
is to say:

            (a) the Company shall (i) fail to pay any amounts owed  hereunder as
required under the terms of this Note or (ii) have an event of default occur and
be continuing  under  indebtedness  of the Company  (other than this Notes) such
that the holders of such  indebtedness  have declared the outstanding  principal
and accrued interest to be immediately due and payable;

            (b) if the Company shall:

                  (i) admit in writing its inability to pay its debts  generally
as they become due;

                  (ii) file a  petition  in  bankruptcy  or a  petition  to take
advantage of any insolvency act;

                  (iii) make an assignment for the benefit of creditors;

                  (iv) consent to the  appointment of a receiver of the whole or
any substantial part of its assets;

                  (v)  on  a  petition  in  bankruptcy   filed  against  it,  be
adjudicated a bankrupt; or

                  (vi) file a  petition  or  answer  seeking  reorganization  or
arrangement  under the Federal  bankruptcy  laws or any other  applicable law or
statute of the United  States of America  or any State,  district  or  territory
thereof;

            (c) if a court of  competent  jurisdiction  shall  enter  an  order,
judgment,  or decree appointing,  without the consent of the Company, a receiver
of the  whole or any  substantial  part of  Company's  assets,  and such  order,
judgment  or decree  shall not be vacated or set aside or stayed  within 90 days
from the date of entry thereof;

                                      -10-
<PAGE>

            (d) if, under the  provisions of any other law for the relief or aid
of debtors, any court of competent  jurisdiction shall assume custody or control
of the whole or any  substantial  part of  Company's  assets and such custody or
control  shall  not be  terminated  or  stayed  within  90 days from the date of
assumption of such custody or control; or

            (e) the  Company  shall  default  (and not cure within 10 days after
written notice of such default) in the  performance  of, or violate any material
representation,  warranty,  or covenant  contained  in the  Securities  Purchase
Agreement or in any written statement pursuant thereto or hereto, or any report,
financial  statement  or  certificate  made or  delivered  to the  Lender by the
Company  shall be untrue or incorrect in any  material  respect,  as of the date
when made or deemed made.

      11. Remedies.  In case any one or more of the Events of Default  specified
in  Section 10 hereof  shall have  occurred  and be  continuing,  the Lender may
proceed to protect  and enforce  its rights  either by suit in equity  and/or by
action at law, whether for the specific performance of any covenant or agreement
contained  in this Note or in aid of the  exercise of any power  granted in this
Note, or the Lender may proceed to enforce the payment of all sums due upon this
Note or to enforce any other legal or equitable right of the Lender.

      12.  Amendments and Waivers.  Any term of this Note may be amended and the
observance  of any term of this Note may be  waived  (either  generally  or in a
particular instance and either  retroactively or prospectively) with the written
consent of the Company and the Lender.

      13. Notices.  All notices,  requests,  consents,  and other communications
under this Note shall be in writing and shall be deemed  delivered (i) three (3)
business days after being sent by registered or certified  mail,  return receipt
requested,  postage  prepaid or (ii) one (1) business day after being sent via a
reputable  nationwide  overnight courier service  guaranteeing next business day
delivery, in each case to the intended recipient as set forth below:

            If to the Company:

            Drinks Americas Holdings, Ltd.
            372 Danbury Road
            Wilton, CT 06897
            Attn: Bruce Klein
            Fax: (203) 762-8992

            If to SSC:

            James C. Ackerman
            c/o Sloan Securities Corp.
            Two Executive Drive
            Fort Lee, NY 07024
            Fax: (201) 592-0695

                                      -11-
<PAGE>

            (ii) Any  party  may  give any  notice,  request,  consent  or other
communication  under  this  Note  using  any  other  means  (including,  without
limitation,  personal delivery, messenger service, telecopy, first class mail or
electronic mail), but no such notice,  request,  consent or other  communication
shall be deemed to have been duly given unless and until it is actually received
by the party for whom it is intended.  Any party may change the address to which
notices,  requests,  consents  or  other  communications  hereunder  are  to  be
delivered  by giving  the other  parties  notice in the manner set forth in this
Section.

      14. Conflicting  Agreements.  In the event of any inconsistencies  between
the terms of this Note and the terms of any other  document  related to the loan
evidenced by this Note, the terms of this Note shall prevail.

      15.  Severability.  The unenforceability or invalidity of any provision or
provisions of this Note as to any persons or circumstances shall not render that
provision  or  those  provisions  unenforceable  or  invalid  as  to  any  other
provisions or circumstances,  and all provisions  hereof, in all other respects,
shall remain valid and enforceable.

      16.  Governing Law. This Note shall be governed by and construed under the
laws of the State of New York as applied to agreements  among New York residents
entered  into and to be  performed  entirely  within New York.  The  Company (1)
agrees that any legal suit,  action or proceeding  arising out of or relating to
this Note  shall be  instituted  exclusively  in New York State  Supreme  Court,
County of New York,  or in the United  States  District  Court for the  Southern
District of New York, (2) waives any objection which the Company may have now or
hereafter  to the  venue  of any  such  suit,  action  or  proceeding,  and  (3)
irrevocably  consents to the  jurisdiction  of the New York State Supreme Court,
County  of New York,  and the  United  States  District  Court for the  Southern
District of New York in any such suit, action or proceeding. The Company further
agrees to accept and  acknowledge  service of any and all  process  which may be
served in any such suit,  action or  proceeding  in the New York  State  Supreme
Court,  County of New  York,  or in the  United  States  District  Court for the
Southern  District  of New York and agrees  that  service  of  process  upon the
Company  mailed by certified  mail to the  Company's  address shall be deemed in
every respect effective  service of process upon the Company,  in any such suit,
action or proceeding.  THE PARTIES HERETO AGREE TO WAIVE THEIR RESPECTIVE RIGHTS
TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION  BASED  UPON OR  ARISING  OUT OF
THIS NOTE OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY.

      17.  Waivers.  The  nonexercise  by  either  party  of any  of its  rights
hereunder in any  particular  instance  shall not constitute a waiver thereof in
that or any subsequent instance.

      18. Lost Documents.  Upon receipt by the Company of evidence  satisfactory
to it of the loss,  theft,  destruction  or  mutilation of this Note or any Note
exchanged for it, and (in the case of loss,  theft or  destruction) of indemnity
satisfactory  to it, and upon  reimbursement  to the  Company of all  reasonable
expenses incidental  thereto,  and upon surrender and cancellation of such Note,
if mutilated,  the Company will make and deliver in lieu of such Note a new Note
of like tenor and unpaid  principal  amount and dated as of the original date of
this Note.

                                      -12-
<PAGE>

                            [Signature Page Follows]

                                      -13-
<PAGE>

      IN WITNESS WHEREOF,  the Company has caused its duly authorized officer to
execute this Note as of the date first written above.

                                                Drinks Americas Holdings, Ltd.

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

                                      -14-Exhibit 4.2

                         FORM OF STOCK PURCHASE WARRANT

      THE  SECURITIES  REPRESENTED  BY THIS WARRANT HAVE BEEN ACQUIRED FOR
      INVESTMENT AND HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF
      1933, AS AMENDED (THE "SECURITIES ACT"). THESE SECURITIES MAY NOT BE
      SOLD  OR  TRANSFERRED  IN THE  ABSENCE  OF SUCH  REGISTRATION  OR AN
      EXEMPTION   THEREFROM  UNDER  THE  SECURITIES  ACT  OR  UNDER  STATE
      SECURITIES LAWS. THIS WARRANT MAY NOT BE SOLD, ASSIGNED, TRANSFERRED
      OR OTHERWISE  DISPOSED OF EXCEPT PURSUANT TO THE EXPRESS  PROVISIONS
      OF  THIS  WARRANT,  AND NO  SALE,  ASSIGNMENT,  TRANSFER,  OR  OTHER
      DISPOSITION  OF THIS WARRANT SHALL BE VALID OR EFFECTIVE  UNLESS AND
      UNTIL SUCH PROVISIONS SHALL HAVE BEEN COMPLIED WITH.

                                                Date of Issuance: ________, 2005

                         DRINKS AMERICAS HOLDINGS, LTD.
                             Stock Purchase Warrant
                         (Void after ___________, 2010)

      Drinks Americas  Holdings,  Ltd., a Delaware  corporation (the "Company"),
for value  received,  hereby  certifies and agrees that  _______________  or its
registered assigns (the "Registered Holder"), is entitled,  subject to the terms
set forth below, to purchase from the Company,  at any time or from time to time
on or  after  the  date  hereof  (the  "Date  of  Issuance")  and  on or  before
____________,  2010 at not later  than 5:00 p.m.  New York time  (such  date and
time, the "Expiration  Time"),  __________________  (________) duly  authorized,
validly  issued,  fully paid and  nonassessable  shares of the Company's  common
stock,  $0.001 par value per share (the "Common  Stock") at an initial  exercise
price  equal  to the  lower  of (i)  $.45  per  share,  or (ii)  if the  Company
consummates a private  placement of its Common Stock raising net proceeds of not
less  than  $6,000,000  to the  Company  (excluding  the  private  placement  to
investors of Notes of up to $1,000,000 principal amount of which this Warrant is
a part) and Sloan Securities Corp. acts as placement agent with respect thereto,
the per share price of the common stock in such offering:  subject to adjustment
in certain cases as described  herein.  The shares  purchasable upon exercise of
this Warrant,  and the purchase price per share, are hereinafter  referred to as
the "Warrant Shares" and the "Exercise Price," respectively.  The term "Warrant"
as used herein shall  include this Warrant and any other  warrants  delivered in
substitution or exchange therefor, as provided herein.

      This  Warrant  is issued  pursuant  to that  certain  Securities  Purchase
Agreement,  dated March __, 2005, by and among the Company and certain investors
set forth therein (the "Securities Purchase Agreement").
<PAGE>

      1. Exercise.

            1.1. Method of Exercise

                  (a) This Warrant may be exercised by the Registered Holder, in
whole or in part, by surrendering this Warrant, with a Notice of Exercise in the
form of Annex A hereto (the "Notice of Exercise") duly executed by such
Registered Holder or by such Registered Holder's duly authorized attorney, at
the principal office of the Company set forth on the signature page hereto, or
at such other office or agency as the Company may designate in writing (the
"Company's Office"), accompanied by payment in full, in lawful money of the
United States, of the Exercise Price payable in respect of the number of shares
of Warrant Shares purchased upon such exercise.

                  (b) Each exercise of this Warrant shall be deemed to have been
effected immediately prior to the close of business on the day on which the
Notice of Exercise shall be dated and directed to the Company (as evidenced by
the applicable postmark or other evidence of transmittal) as provided in Section
1(a) hereof. At such time, the person or persons in whose name or names any
certificates for Warrant Shares shall be issuable upon such exercise as provided
in Section 1.1(c) hereof shall be deemed to have become the holder or holders of
record of the Warrant Shares represented by such certificates.

                  (c) As soon as practicable after the exercise of this Warrant,
in full or in part, and in any event within ten (10) days thereafter, the
Company, at its expense, will cause to be issued in the name of, and delivered
to, the Registered Holder, or as such Registered Holder (upon payment by such
Registered Holder of any applicable transfer taxes) may direct:

                  (i) a certificate or certificates for the number of full
Warrant Shares to which such Registered Holder shall be entitled upon such
exercise plus, in lieu of any fractional share to which such Registered Holder
would otherwise be entitled, cash in an amount determined pursuant to Section 3
hereof; and

                  (ii) in case such exercise is in part only, a new warrant or
warrants (dated the date hereof) of like tenor, representing in the aggregate on
the face or faces thereof the number of Warrant Shares equal (without giving
effect to any adjustment therein) to the number of such shares called for on the
face of this Warrant minus the number of such shares purchased by the Registered
Holder upon such exercise as provided in Section 3 hereof or received pursuant
to Section 1.2 hereof.

            1.2. Exercise by Surrender of Warrant. In addition to the method of
payment set forth in Section 1.1 and in lieu of any cash payment required
thereunder, the Warrant may be exercised by surrendering the Warrant in the
manner specified in this Section 1.2, together with irrevocable instructions to
the Company to issue in exchange for the Warrant the number of shares of Common
Stock equal to the product of (x) the number of shares of Common Stock
underlying the Warrants multiplied by (y) a fraction, the numerator of which is
the Market Value (as defined below) of the Common Stock less the Exercise Price
and the denominator of which is such Market Value. As used herein, the phrase
"Market Value" at any date shall be deemed to be the last reported sale price,
or, in case no such reported sale takes place on such day, the average of the
last reported sale prices for the last three (3) trading days, in either case as
officially reported by the principal securities exchange or "over the counter"
(including on the pink sheets or bulletin board) exchange on which the Common
Stock is listed or admitted to trading, or, if the Common Stock is not listed or
admitted to trading on any national securities exchange or sold "over the
counter", the average closing bid price as furnished by the NASD through NASDAQ
or similar organization if NASDAQ is no longer reporting such information, or if
the Common Stock is not quoted on NASDAQ, as determined in good faith by
resolution of the Board of Directors of the Company, based on the best
information available to it.

<PAGE>

      2. Shares to be Fully Paid; Reservation of Shares. The Company covenants
and agrees that all shares of Common Stock which may be issued upon the exercise
of the rights represented by this Warrant will, upon issuance by the Company, be
validly issued, fully paid and nonassessable, and free from preemptive rights
and free from all taxes, liens and charges with respect thereto. The Company
further covenants and agrees that, from and after the Date of Issuance and
during the period within which the rights represented by this Warrant may be
exercised, the Company will at all times have authorized, and reserve, free from
preemptive rights, out of its authorized but unissued shares of Common Stock,
solely for the purpose of effecting the exercise of this Warrant, a sufficient
number of shares of Common Stock to provide for the exercise of the rights
represented by this Warrant.

      3. Fractional Shares. The Company shall not be required upon the exercise
of this Warrant to issue any fractional shares, but shall make an adjustment
therefor in cash on the basis of the Market Value for each fractional share of
the Company's Common Stock which would be issuable upon exercise of this
Warrant.

      4. Requirements for Transfer.

            (a) Warrant Register. The Company will maintain a register (the
"Warrant Register") containing the names and addresses of the Registered Holder
or Registered Holders. Any Registered Holder of this Warrant or any portion
thereof may change its address as shown on the Warrant Register by written
notice to the Company requesting such change, and the Company shall promptly
make such change. Until this Warrant is transferred on the Warrant Register of
the Company, the Company may treat the Registered Holder as shown on the Warrant
Register as the absolute owner of this Warrant for all purposes, notwithstanding
any notice to the contrary, provided, however, that if and when this Warrant is
properly assigned in blank, the Company may, but shall not be obligated to,
treat the bearer hereof as the absolute owner hereof for all purposes,
notwithstanding any notice to the contrary.

            (b) Warrant Agent. The Company may, by written notice to the
Registered Holder, appoint an agent for the purpose of maintaining the Warrant
Register referred to in Section 4(a) hereof, issuing the Common Stock issuable
upon the exercise of this Warrant, exchanging this Warrant, replacing this
Warrant or any or all of the foregoing. Thereafter, any such registration,
issuance, exchange, or replacement, as the case may be, may be made at the
office of such agent.
<PAGE>

            (c) Transfer. Subject to the provisions of this Section 4, this
Warrant and all rights hereunder are transferable, in whole or in part, upon the
surrender of this Warrant with a properly executed Assignment Form in
substantially the form attached hereto as Annex B (the "Assignment") at the
principal office of the Company.

            (d) Exchange of Warrant Upon a Transfer. On surrender of this
Warrant for exchange, properly endorsed on the Assignment and subject to the
provisions of this Warrant and with the limitations on assignments and transfers
as contained in this Section 4, the Company at its expense shall issue to or on
the order of the Registered Holder a new warrant or warrants of like tenor, in
the name of the Registered Holder or as the Registered Holder (on payment by the
Registered Holder of any applicable transfer taxes) may direct, for the number
of shares issuable upon exercise hereof.

      5. Adjustment.

            Computation of Adjusted Exercise Price. Except as hereinafter
provided, in case the Company shall at any time after the date hereof issue or
sell any shares of its Stock (as defined in Section 5(g)), other than (i) the
issuances or sales referred to in Section 5(h) hereof, (ii) those warrants
options or shares of Common Stock disclosed as issued or to be issued on the
Company's Current Report of Form 8-K, filed with the Securities and Exchange
Commission in March of 2005, a draft of which is attached to the Securities
Purchase Agreement between the Company and the Holder of this Warrant(among
other investors) provided that the terms under which such warrants, options, or
shares of Common Stock issued or to be issued are as described in such Form 8-k
and (iii) the shares of Common Stock issuable upon conversion of the Notes and
Warrants issued to the Holder of this Warrant and the other investors who
purchased Notes and Warrants pursuant to such Securities Purchase
Agreement(collectively, "Excluded Securities"), for a consideration per share
less than the Exercise Price in effect immediately prior to the issuance or sale
of such shares, or without consideration, then forthwith upon such issuance or
sale, the Exercise Price shall (until another such issuance or sale) be reduced
to the price (calculated to the nearest full cent) equal to the quotient derived
by dividing (A) an amount equal to the sum of (X) the product of (a) the
Exercise Price in effect immediately prior to such issuance or sale, multiplied
by (b) the total number of shares of Stock outstanding immediately prior to such
issuance or sale, plus (Y) the aggregate of the amount of all consideration, if
any, received by the Company upon such issuance or sale, by (B) the total number
of shares of Stock outstanding immediately after such issuance or sale;
provided, however, that in no event shall the Exercise Price be adjusted
pursuant to this computation to an amount in excess of the Exercise Price in
effect immediately prior to such computation, except in the case of a
combination of outstanding shares of Stock, as provided by Section 5(c) hereof.

            For the purposes of this Section 5 the term Exercise Price shall
mean the Exercise Price per share set forth on the first page of this Warrant,
as adjusted from time to time pursuant to the provisions of this Section 5.

                  (i) For purposes of any computation to be made in accordance
with this Section 5(a), the following provisions shall be applicable:

                  (ii) In case of the issuance or sale of shares of Stock for a
consideration part or all of which shall be cash, the amount of the cash
consideration, shall be deemed to be the amount of cash received by the Company
for such shares (or, if shares of Stock are offered by the Company for
subscription, the subscription price, or, if either of such securities shall be
<PAGE>

sold to underwriters or dealers for public offering without a subscription
price, the public offering price, before deducting therefrom any compensation
paid or discount allowed in the sale, underwriting or purchase thereof by
underwriters or dealers or other persons or entities performing similar
services), or any expenses incurred in connection therewith and less any amounts
payable to security holders or any affiliate thereof, including, without
limitation, any employment agreement, royalty, consulting agreement, covenant
not to compete, earnout or contingent payment right or similar arrangement,
agreement or understanding, whether oral or written; all such amounts shall be
valued at the aggregate amount payable thereunder whether such payments are
absolute or contingent and irrespective of the period or uncertainty of payment,
the rate of interest, if any, or the contingent nature thereof.

                  (iii) In case of the issuance or sale (otherwise than as a
dividend or other distribution on any stock of the Company) of shares of Stock
for a consideration part or all of which shall be other than cash, the amount of
the consideration therefor other than cash shall be deemed to be the value of
such consideration as determined in good faith by the Board of Directors of the
Company.

                  (iv) Shares of Stock issuable by way of dividend or other
distribution on any capital stock of the Company shall be deemed to have been
issued immediately after the opening of business on the day following the record
date for the determination of stockholders entitled to receive such dividend or
other distribution and shall be deemed to have been issued without
consideration.

                  (v) The reclassification of securities of the Company other
than shares of Stock into securities including shares of Stock shall be deemed
to involve the issuance of such shares of Stock for consideration other than
cash immediately prior to the close of business on the date fixed for the
determination of security holders entitled to receive such shares, and the value
of the consideration allocable to such shares of Stock shall be determined as
provided in Section 5(a)(iii).

                  (vi) The number of shares of Stock at any one time outstanding
shall include the aggregate number of shares issued or issuable (subject to
readjustment upon the actual issuance thereof) upon the exercise of then
outstanding options, rights, warrants, and convertible and exchangeable
securities.

            (b) Options, Rights, Warrants and Convertible and Exchangeable
Securities.

                  (i) In case the Company shall at any time after the date
hereof issue options, rights or warrants to subscribe for shares of Stock, or
issue any securities convertible into or exchangeable for shares of Stock, for a
consideration per share less than the Exercise Price in effect immediately prior
to the issuance of such options, rights, warrants or such convertible or
exchangeable securities, or without consideration, the Exercise Price in effect
immediately prior to the issuance of such options, rights, warrants or such
convertible or exchangeable securities, as the case may be, shall be reduced to
a price determined by making a computation in accordance with the provisions of
Section 5(a) hereof, provided that:
<PAGE>

                  (ii) The aggregate maximum number of shares of Stock, as the
case may be, issuable under such options, rights or warrants shall be deemed to
be issued and outstanding at the time such options, rights or warrants were
issued, for a consideration equal to the minimum purchase price per share
provided for in such options, rights or warrants at the time of issuance, plus
the consideration (determined in the same manner as consideration received on
the issue or sale of shares in accordance with the terms of the Warrant), if
any, received by the Company for such options, rights or warrants. The aggregate
maximum number of shares of Stock issuable upon conversion or exchange of any
convertible or exchangeable securities shall be deemed to be issued and
outstanding at the time of issuance of such securities, and for a consideration
equal to the consideration (determined in the same manner as consideration
received on the issue or sale of shares of Stock in accordance with the terms of
the Warrant) received by the Company for such securities, plus the minimum
consideration, if any, receivable by the Company upon the conversion or exchange
thereof. If any change shall occur in the price per share provided for in any of
the options, rights or warrants referred to in subsection, or in the price per
share at which the securities referred to in this subsection are exchangeable,
such options, rights or warrants or exchange rights, as the case may be, shall
be deemed to have expired or terminated on the date when such price change
became effective in respect to shares not theretofore issued pursuant to the
exercise or exchange thereof, and the Company shall be deemed to have issued
upon such date new options, rights or warrants or exchangeable securities at the
new price in respect of the number of shares issuable upon the exercise of such
options, rights or warrants or the conversion or exchange of such exchangeable
securities.

            (c) Subdivision and Combination. If the Company at any time
subdivides (by any stock split, stock dividend, recapitalization,
reorganization, reclassification or otherwise) the shares of Stock subject to
acquisition hereunder into a greater number of shares, then, after the date of
record for effecting such subdivision, the Exercise Price in effect immediately
prior to such subdivision will be proportionately reduced and the number of
shares of Common Stock subject to acquisition upon exercise of this Warrant will
be proportionately increased. If the Company at any time combines (by reverse
stock split, recapitalization, reorganization, reclassification or otherwise)
the shares of Stock subject to acquisition hereunder into a smaller number of
shares, then, after the date of record for effecting such combination, the
Exercise Price in effect immediately prior to such combination will be
proportionately increased and the number of shares of Common Stock subject to
acquisition upon exercise of this Warrant will be proportionately decreased.

            (d) Merger or Consolidation. In case of any consolidation of the
Company with, or merger of the Company into any other corporation, or in case of
any sale or conveyance of all or substantially all of the assets of the Company
other than in connection with a plan of complete liquidation of the Company,
then as a condition of such consolidation, merger or sale or conveyance,
adequate provision will be made whereby the Registered Holder will have the
right to acquire and receive upon exercise of this Warrant in lieu of the shares
of Common Stock immediately theretofore subject to acquisition upon the exercise
of this Warrant, such shares of stock, securities or assets as may be issued or
payable with respect to or in exchange for the number of shares of Common Stock
immediately theretofore subject to acquisition and receivable upon exercise of
this Warrant had such consolidation, merger or sale or conveyance not taken
place. In any such case, the Company will make appropriate provision to insure
that the provisions of this Section 5 hereof will thereafter be applicable as
nearly as may be in relation to any shares of stock or securities thereafter
deliverable upon the exercise of this Warrant.
<PAGE>

            (e) Notice of Adjustment. Upon the occurrence of any event which
requires any adjustment of the Exercise Price, then and in each such case the
Company shall give notice thereof to the Registered Holder, which notice shall
state the Exercise Price resulting from such adjustment and the increase or
decrease, if any, in the number of Warrant Shares purchasable at such price upon
exercise, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based.

            (f) Adjustment in Number of Securities. Upon each adjustment of the
Exercise Price pursuant to the provisions of this Section 5, the number of
securities issuable upon the exercise of each Warrant shall be adjusted to the
nearest full amount by multiplying a number equal to the Exercise Price in
effect immediately prior to such adjustment by the number of Warrant Shares
issuable upon exercise of the Warrants immediately prior to such adjustment and
dividing the product so obtained by the adjusted Exercise Price.

            (g) Definition of Stock. For the purpose of this Agreement, the term
"Stock" shall mean (i) the class of stock designated as Common Stock in the
Certificate of Incorporation of the Company as may be amended as of the date
hereof, or (ii) any other class of stock resulting from successive changes or
reclassifications of such Stock consisting solely of changes in par value, or
from par value to no par value, or from no par value to par value.

            (h) No Adjustment of Exercise Price in Certain Cases. No adjustment
of the Exercise Price shall be made:

                  (i) Upon issuance or sale of Excluded Securities or this
Warrant or Warrant Shares, or the other Warrants and Warrant Shares issued in
connection with the Securities Purchase Agreement Executed between the Company
and the holder of this Warrant including the warrants issued to investors who
purchased Notes and Warrants pursuant to the Securities Purchase Agreement, or
other options, warrants and convertible securities outstanding as of the date
hereof into or for shares of Common Stock including but not limited to shares
issuable on conversion..

                  (ii) Upon the issuance or sale of any shares of capital stock,
or the grant of options exercisable therefor, issued or issuable after the date
of this Warrant, to directors, officers, employees, advisers and consultants of
the Company or any subsidiary pursuant to any incentive or non-qualified stock
option plan or agreement, stock purchase plan or agreement, stock restriction
agreement or restricted stock plan, employee stock ownership plan (ESOP),
consulting agreement, stock appreciation right (SAR), stock depreciation right
(SDR), bonus stock arrangement, or such other similar compensatory options,
issuances, arrangements, agreements or plans approved by the Board of Directors.
<PAGE>

                  (iii) If the amount of said adjustment shall be less than one
cent ($0.01) per security issuable upon exercise of this Warrant, provided,
however, that in such case any adjustment that would otherwise be required then
to be made shall be carried forward and shall be made at the time of and
together with the next subsequent adjustment which, together with any adjustment
so carried forward, shall amount to at least two cents ($0.02) per security
issuable upon exercise of this Warrant.

      6. No Impairment. The Company will not, by amendment of its charter or
through reorganization, consolidation, merger, dissolution, sale of assets or
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 carry out all such
terms and take all such action as may be reasonably necessary or appropriate in
order to protect the rights of the holder of this Warrant against impairment.

      7. Liquidating Dividends and Other Distributions. If the Company pays a
dividend or makes a distribution on the Common Stock payable otherwise than in
cash out of earnings or earned surplus (determined in accordance with generally
accepted accounting principles) except for a stock dividend payable in shares of
Common Stock (a "Liquidating Dividend") or otherwise distributes to its
stockholders any assets, properties, rights, evidence of indebtedness,
securities whether issued by the Company or by another, or any other thing of
value, then the Company will pay or distribute to the Registered Holder of this
Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased
upon such exercise, either (i) the Liquidating Dividend that would have been
paid to such Registered Holder if he had been the owner of record of such
Warrant Shares immediately prior to the date on which a record is taken for such
Liquidating Dividend or, if no record is taken, the date as of which the record
holders of Common Stock entitled to such dividends or distribution are to be
determined or (ii) the same property, assets, rights, evidences of indebtedness,
securities or any other thing of value that the Registered Holder would have
been entitled to receive at the time of such distribution as if the Warrant had
been exercised immediately prior to such distribution.

      8. Notices of Record Date, Etc. In case the Company shall take a record of
the holders of its Common Stock (or other stock or securities at the time
deliverable upon the exercise of this Warrant) for the purpose of entitling or
enabling them to receive any dividend or other distribution, or to receive any
right to subscribe for or purchase any shares of stock of any class or any other
securities, or to receive any other right; or of any capital reorganization of
the Company, any reclassification of the capital stock of the Company, any
consolidation or merger of the Company with or into another corporation (other
than a consolidation or merger in which the Company is the surviving entity), or
any transfer of all or substantially all of the assets of the Company; or of the
<PAGE>

voluntary or involuntary dissolution, liquidation or winding-up of the Company,
then, and in each such case, the Company will mail or cause to be mailed to the
Registered Holder of this Warrant a notice specifying, as the case may be, (i)
the date on which a record is to be taken for the purpose of such dividend,
distribution or right, and stating the amount and character of such dividend,
distribution or right, or (ii) the effective date on which such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up is to take place, and the time, if any is to be fixed, as of which
the holders of record of Common Stock (or such other stock or securities at the
time deliverable upon the exercise of this Warrant) shall be entitled to
exchange their shares of Common Stock (or such other stock or securities) for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up. Such notice shall be mailed at least ten (10) days prior to the
record date or effective date for the event specified in such notice unless such
prior notice is waived by the Registered Holder.

      9. No Rights of Stockholders. Subject to other Sections of this Warrant,
the Registered Holder shall not be entitled to vote, to receive dividends or
subscription rights, nor shall anything contained herein be construed to confer
upon the Registered Holder, as such, any of the rights of a stockholder of the
Company, including without limitation any right to vote for the election of
directors or upon any matter submitted to stockholders, to give or withhold
consent to any corporate action (whether upon any recapitalization, issuance of
stock, reclassification of stock, change of par value or change of stock to no
par value, consolidation, merger, conveyance, or otherwise), to receive notices,
or otherwise, until the Warrant shall have been exercised as provided herein.

      10. Replacement of Warrant. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and (in the case of loss, theft or destruction) upon delivery of an
indemnity agreement reasonably satisfactory to the Company, or (in the case of
mutilation) upon surrender and cancellation of this Warrant, the Company will
issue, in lieu thereof, a new Warrant of like tenor.

      11. Mailing of Notices, Etc. All notices and other communications from the
Company to the Registered Holder of this Warrant shall be mailed by first-class
certified or registered mail, postage prepaid, to the address furnished to the
Company in writing by the last Registered Holder of this Warrant who shall have
furnished an address to the Company in writing. All notices and other
communications from the Registered Holder of this Warrant or in connection
herewith to the Company shall be mailed by first-class certified or registered
mail, postage prepaid, to the Company at its principal office set forth below.
If the Company should at any time change the location of its principal office to
a place other than as set forth below, then it shall give prompt written notice
to the Registered Holder of this Warrant and thereafter all references in this
Warrant to the location of its principal office at the particular time shall be
as so specified in such notice.

      12. Change or Waiver. Any term of this Warrant may be changed or waived
only by an instrument in writing signed by the party against which enforcement
of the change or waiver is sought.

      13. Headings. The headings in this Warrant are for purposes of reference
only and shall not limit or otherwise affect the meaning of any provision of
this Warrant.
<PAGE>

      14. Severability. If any provision of this Warrant shall be held to be
invalid and unenforceable, such invalidity or unenforceability shall not affect
any other provision of this Warrant.

      15. Governing Law and Submission to Jurisdiction. This Warrant will be
governed by and construed in accordance with the laws of the State of New York
without regard to principles of conflict or choice of laws of any jurisdiction.
The parties hereby agree that any action, proceeding or claim against it arising
out of, or relating in any way to this Warrant shall be brought and enforced in
the courts of the State of New York, and irrevocably submit to such
jurisdiction, which jurisdiction shall be exclusive.

      16. Certificate. Upon request by the Registered Holder of this Warrant,
the Company shall promptly deliver to such holder a certificate executed by its
President or Chief Financial Officer setting forth the total number of
outstanding shares of capital stock, convertible debt instruments and options,
rights, warrants or other agreements relating to the purchase of such capital
stock or convertible debt instruments, together with its calculation of the
number of shares remaining available for issuance upon exercise of this Warrant,
and a certificate of the accuracy of the statements set forth therein.

      17. Supplements and Amendments. The Company and the Registered Holder may
from time to time supplement or amend this Warrant in order to cure any
ambiguity, to correct or supplement any provision contained herein which may be
defective or inconsistent with any provision herein, or to make any other
provisions in regard to matters or questions arising hereunder which the Company
and the Holder may deem necessary or desirable.

      18. Successors. All the covenants and provisions of this Warrant shall be
binding upon and inure to the benefit of the Company and the Registered Holder
and their respective successors and assigns hereunder.

      19. Benefits of this Warrant. Nothing in this Warrant shall be construed
to give to any person, entity or corporation other than the Company and the
Registered Holder of the Warrant Certificate any legal or equitable right,
remedy or claim under this Warrant; and this Warrant shall be for the sole and
exclusive benefit of the Company and the Registered Holder of the Warrant
Certificate.

<PAGE>

      IN WITNESS WHEREOF, Drinks Americas Holdings, Ltd. has caused this Warrant
to be signed by its duly authorized officers under its corporate seal and to be
dated on the day and year first written above.

                                            DRINKS AMERICAS HOLDINGS, LTD.

                                            By:_________________________________
                                               Name:
                                               Title: Chairman
                                               Principal Office:

<PAGE>

                                     ANNEX A

                             NOTICE OF EXERCISE FORM

To:                                                                     Dated:

      The undersigned, pursuant to the provisions set forth in the attached
Warrant, hereby irrevocably elects to purchase shares of Common Stock covered by
such Warrant and herewith makes payment of $_______ , representing the full
purchase price for shares at the exercise price per share provided for in such
Warrant.

                                                              Signature:

                                                              Address:

<PAGE>

                                     ANNEX B

                                 ASSIGNMENT FORM

      FOR VALUE RECEIVED, _________________________________ hereby sells,
assigns and transfers all of the rights of the undersigned under the attached
Warrant with respect to the number of shares of Common Stock covered thereby set
forth below, unto:

Name of Assignee                      Address               No. of Shares

                                                              Dated:

                                                              Signature:

                                                              Dated:

                                                              Witness:

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