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                                                                   EXHIBIT 10.42

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(K), 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.

                               8% CONVERTIBLE NOTE
                               -------------------

US$1,000,000                                                       July 23, 2004
                                                      As Amended October 6, 2004

                  FOR VALUE RECEIVED, VisiJet, Inc., a Delaware corporation (the
"COMPANY"), hereby unconditionally promises to pay to the order of LibertyView
Special Opportunities Fund, LP (the "HOLDER"), having an address at c/o
Neuberger Berman, LLC, 111 River Street - Suite 1000, Hoboken, NJ 07030, at such
address or at such other place as may be designated in writing by the Holder, or
its assigns, the aggregate principal sum of One Million United States Dollars
($1,000,000.00), together with interest from July 23, 2004 on the unpaid
principal balance of this Note outstanding at a rate equal to eight percent
(8.0%) (computed on the basis of the actual number of days elapsed in a 360-day
year) per annum and continuing on the outstanding principal until this 8%
Convertible Note (the "NOTE") is converted into Common Stock as provided herein
or indefeasibly and irrevocably paid in full by the Company. Interest on this
Note shall accrue and be compounded quarterly and shall be payable quarterly on
the fifteenth day of July, October, January and April of each year (each, an
"INTEREST PAYMENT DATE"), commencing on October 31, 2004, to the Holder of
record on the immediately preceding July 15, October 15, January 15 or April 15,
as applicable (each, an "INTEREST RECORD DATE"). Subject to the other provisions
of this Note, the principal of this Note and all accrued and unpaid interest
hereon shall mature and become due and payable on July 23, 2014 (the "STATED
MATURITY DATE"). Except as provided herein, all payments of principal and
interest by the Company under this Note shall be made in United States dollars
in immediately available funds to an account specified by the Holder.

                  From and after the Stated Maturity Date, all amounts due and
owing under this Note shall automatically, and without action by any party
hereto, bear interest at an annual rate of twenty percent (20%). In no event
shall any interest charged, collected or reserved under this Note exceed the
maximum rate then permitted by applicable law and if any such payment is paid by
the Company, then such excess sum shall be credited by the Holder as a payment
of principal.

         1. DEFINITIONS. Unless the context otherwise requires, when used herein
the following terms shall have the meaning indicated:

                  "ADDITIONAL RIGHTS" shall have the meaning ascribed to such
term in Section 6 hereof.

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                  "AFFILIATE" shall mean, with respect to any Person, any other
Person which directly or indirectly through one or more intermediaries Controls,
is controlled by, or is under common control with, such Person.

                  "BOARD" shall mean the Board of Directors of Company.

                  "BUSINESS DAY" other than a Saturday or Sunday, on which banks
in New York City are open for the general transaction of business.

                  "CHANGE OF CONTROL" means, at any time (i) any Person or any
Persons acting together that would constitute a "group" for purposes of Section
13(d) under the Exchange Act, or any successor provision thereto, shall acquire
beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act,
or any successor provision thereto) in a single transaction or a series of
related transactions, of more than 50% of the aggregate voting power of the
Company; or (ii) the Company merges into or consolidates with any other Person,
or any Person merges into or consolidates with the Company and, after giving
effect to such transaction, the stockholders of the Company immediately prior to
such transaction own less than 50% of the aggregate voting power of the Company
or the successor entity of such transaction; or (iii) the Company sells or
transfers its assets, as an entirety or substantially as an entirety, to another
Person; or (iv) any "change of control" or similar event under any loan
agreement, mortgage, indenture or other agreement relating to any indebtedness
for borrowed money of the Company shall occur; or (v) during any period of two
consecutive years, individuals who at the beginning of such period constituted
the Board of Directors (together with any new directors whose election by the
shareholders of the Company was proposed by a vote of the majority of directors
of the Company then still in office who were either directors at the beginning
of such period or whose election or nomination for election was previously so
approved) cease for any reason to constitute a majority of the Board of
Directors then in office.

                  "COMMON STOCK" shall mean the Common Stock, par value $0.001
per share, of the Company.

                  "COMPANY" shall have the meaning ascribed to such term in the
first paragraph herein.

                  "CONTROL" (including the terms "controlling", "controlled by"
or "under common control with") means the possession, direct or indirect, of the
power to direct or cause the direction of the management and policies of a
Person, whether through the ownership of voting securities, by contract or
otherwise

                  "CONVERSION PRICE" shall mean initially $0.35 per share,
subject to adjustment as provided in Section 6.

                  "CONVERTIBLE SECURITIES" shall have the meaning ascribed to
such term in Section 6 hereof.

                  "DESIGNATED EVENT" means the occurrence of either a Change of
Control or a Termination of Trading.

                  "DESIGNATED EVENT REPURCHASE DATE" shall have the meaning
ascribed to such term in Section 5 hereof.

                  "DESIGNATED EVENT REPURCHASE NOTICE" shall have the meaning
ascribed to such term in Section 5 hereof.

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                  "DESIGNATED EVENT REPURCHASE PRICE" shall have the meaning
ascribed to such term in Section 5 hereof.

                  "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934,
as amended.

                  "EVENT OF DEFAULT" shall have the meaning ascribed to such
term in Section 6 herein.

                  "EXCLUDED ISSUANCES" shall have the meaning ascribed to such
term in Section 6 herein.

                  "HOLDER" shall have the meaning ascribed to such term in the
first paragraph herein.

                  "INTEREST PAYMENT DATE" shall have the meaning ascribed to
such term in the first paragraph herein.

                  "INTEREST RECORD DATE" shall have the meaning ascribed to such
term in the first paragraph herein.

                  "INVESTORS" shall have the meaning ascribed to such term in
the Purchase Agreement.

                  "MARKET PRICE", as of a particular date (the "VALUATION
DATE"), shall mean the following with respect to any class of securities: (A) if
such security is then listed on a national stock exchange, the Market Price
shall be the closing bid price of one share of such security on such exchange on
the last Trading Day prior to the Valuation Date, provided that if such security
has not traded in the prior ten (10) trading sessions, the Market Price shall be
the average closing bid price of such security in the most recent ten (10)
trading sessions during which such security has traded; (B) if such security is
then included in The Nasdaq Stock Market, Inc. ("NASDAQ"), the Market Price
shall be the closing bid price of one share of such security on Nasdaq on the
last Trading Day prior to the Valuation Date or, if no such closing sale price
is available, the average of the high bid and the low ask price quoted on Nasdaq
as of the end of the last Trading Day prior to the Valuation Date, provided that
if such security has not traded in the prior ten (10) trading sessions, the
Market Price shall be the average closing price of one share of such security in
the most recent ten (10) trading sessions during which such security has traded;
(C) if such security is then included in the Over-the-Counter Bulletin Board,
the Market Price shall be the closing sale price of one share of such security
on the Over-the-Counter Bulletin Board on the last Trading Day prior to the
Valuation Date or, if no such closing sale price is available, the average of
the high bid and the low ask price quoted on the Over-the-Counter Bulletin Board
as of the end of the last Trading Day prior to the Valuation Date, provided that
if such stock has not traded in the prior ten (10) trading sessions, the Market
Price shall be the average closing price of one share of such security in the
most recent ten (10) trading sessions during which such security has traded; or
(D) if such security is then included in the "pink sheets," the Market Price
shall be the closing sale price of one share of such security on the "pink
sheets" on the last Trading Day prior to the Valuation Date or, if no such
closing sale price is available, the average of the high bid and the low ask
price quoted on the "pink sheets" as of the end of the last Trading Day prior to
the Valuation Date, provided that if such stock has not traded in the prior ten
(10) trading sessions, the Market Price shall be the average closing price of
one share of such security in the most recent ten (10) trading sessions during
which such security has traded.

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                  "NOTE" shall have the meaning ascribed to such term in the
first paragraph herein.

                  "OPTIONS" shall have the meaning ascribed to such term in
Section 6 hereof.

                  "PERSON" means an individual, corporation, partnership,
limited liability company, trust, business trust, association, joint stock
company, joint venture, sole proprietorship, unincorporated organization,
governmental authority or any other form of entity not specifically listed
herein.

                  "PURCHASE AGREEMENT" shall mean the Securities Purchase
Agreement, dated as of July 23, 2004, and as that agreement may be amended from
time to time, by and among the Company and the Investors.

                  "REGISTRATION RIGHTS AGREEMENT" shall mean the Registration
Rights Agreement, dated as of July 23, 2004, and as that agreement may be
amended from time to time, by and among the Company and the Investors.

                  "REPURCHASE DATE" shall have the meaning ascribed to such term
in Section 5 hereof.

                  "REPURCHASE NOTICE" shall have the meaning ascribed to such
term in Section 5 hereof.

                  "REPURCHASE PRICE" shall have the meaning ascribed to such
term in Section 5 hereof.

                  "STATED MATURITY DATE" shall have the meaning ascribed to such
term in the first paragraph herein.

                  "SUBSIDIARY" of any Person means another Person, an amount of
the voting securities, other voting ownership or voting partnership interests of
which is sufficient to elect at least a majority of its Board of Directors or
other governing body (or, if there are no such voting interests, 50% or more of
the equity interests of which) is owned directly or indirectly by such first
Person.

                  "TERMINATION OF TRADING" will be deemed to have occurred at
any time when the Common Stock is neither listed for trading on a U.S. national
securities exchange nor approved for trading on the Nasdaq Stock Market or any
similar system of automated dissemination of quotations of securities prices nor
quoted on the Over the Counter Bulletin Board".

                  "TRADING DAY" means (i) if the relevant stock or security is
listed or admitted for trading on The New York Stock Exchange, Inc. or any other
national securities exchange, a day on which such exchange is open for business;
(ii) if the relevant stock or security is quoted on the Nasdaq Stock Market or
any other system of automated dissemination of quotations of securities prices,
a day on which trades may be effected through such system; or (iii) if the
relevant stock or security is not listed or admitted for trading on any national
securities exchange or quoted on the Nasdaq Stock Market or any other system of
automated dissemination of quotation of securities prices, a day on which the
relevant stock or security is traded in a regular way in the over-the-counter
market and for which a closing bid and a closing asked price for such stock or
security are available, shall mean a day, other than a Saturday or Sunday, on
which The New York Stock Exchange, Inc. is open for trading.

                  "TRIGGER ISSUANCE" shall have the meaning ascribed to such
term in Section 6 hereof.

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         2. PURCHASE AGREEMENT. This Note is one of the several 8% Convertible
Notes of the Company issued pursuant to the Purchase Agreement. This Note is
subject to the terms and conditions of, and entitled to the benefit of, the
provisions of the Purchase Agreement. This Note is transferable and assignable
to any person to whom such transfer is permissible under the Purchase Agreement
and applicable law. The Company agrees to issue from time to time a replacement
Note in the form hereof to facilitate such transfers and assignments. In
addition, after delivery of an indemnity in form and substance reasonably
satisfactory to the Company, the Company also agrees to promptly issue a
replacement Note if this Note is lost, stolen, mutilated or destroyed.

         3. NO RIGHT OF PREPAYMENT OR REDEMPTION. This Note shall not be
prepayable or redeemable by the Company prior to the Stated Maturity Date.

         4. REPURCHASE OF THE NOTE AT THE OPTION OF THE HOLDER.

                  (a) The Note shall be purchased by the Company at the option
of the Holder on July 31, 2007 (each, a "REPURCHASE DATE"), at a purchase price
equal to 100% of the principal amount of this Note, plus accrued and unpaid
interest on this Note, to (but excluding) such Repurchase Date (the "REPURCHASE
PRICE"). If the Repurchase Date is on a date that is after an Interest Record
Date and on or prior to the corresponding Interest Payment Date, the Company
shall pay such interest to the Holder of record on the corresponding Interest
Record Date and the Repurchase Price shall only be 100% of the principal amount
of the Note. The Company shall have the option to pay all or any portion of the
Repurchase Price in newly issued, fully paid and nonassessable shares of Common
Stock, with each share of Common Stock having a value equal to the average
Market Price of a share of Common Stock for each of the ten Trading Days
immediately preceding the date on which the Repurchase Price is paid: provided,
however, that the Company shall not have the right to issue any shares of Common
Stock pursuant to this Section 3 unless such shares of Common Stock are then
registered pursuant to a Registration Statement (as defined in the Registration
Rights Agreement) which is available for the resale of such shares of Common
Stock immediately upon issuance.

                  (b) Not later than 30 Business Days prior to any Repurchase
Date, the Company shall give written notice to the Holder, which notice shall
(i) specify (A) the Repurchase Date, (B) the Repurchase Price then applicable
and (C) subject to the proviso in the last sentence of Section 4(a), the
portions of the Repurchase Price payable in cash and/or shares of Common Stock
and (ii) include a form of repurchase notice to be completed by the Holder.

                  (c) Purchases of this Note shall be made, at the option of the
Holder thereof, upon delivery to the Company by the Holder of (i) a written
notice of repurchase (a "REPURCHASE NOTICE") at any time prior to 5:00 p.m., New
York time, on the relevant Repurchase Date stating the portion of the Note which
the Holder will deliver to be purchased, which portion must be in principal
amounts of $1,000 or an integral multiple of $1,000, and irrevocably agreeing
that such principal amount of the Note shall be purchased by the Company as of
the Repurchase Date and (ii) this Note.

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                  (d) In the event that this Note is repurchased in part, upon
surrender of this Note, the Company shall execute and deliver to the Holder a
new Note equal in principal amount to the unpurchased portion of the Note
surrendered.

         5. REPURCHASE OF THE NOTE AT THE OPTION OF THE HOLDER UPON CERTAIN
EVENTS.

                  (a) If a Designated Event occurs, this Note shall be purchased
by the Company, at the option of the Holder thereof, at a cash purchase price
equal to 101% of the principal amount of those Securities, plus accrued and
unpaid interest (the "DESIGNATED EVENT REPURCHASE PRICE") to, but not including,
the date that is 30 days following the date of the notice of a Designated Event
delivered by the Company pursuant to clause (b) below (the "DESIGNATED EVENT
REPURCHASE DATE"), subject to satisfaction by or on behalf of the Holder of the
requirements set forth in clause (c) below. If the Designated Event Repurchase
Date is on a date that is after an Interest Record Date and on or prior to the
corresponding Interest Payment Date, the Company shall pay such interest to the
holder of record on the corresponding Interest Record Date and the Designated
Event Repurchase Price shall only be 101% of the principal amount of this Note.

                  (b) No later than 30 days after the occurrence of a Designated
Event, the Company shall give written notice thereof to the Holder, which notice
shall include a form of repurchase notice to be completed by the Holder and
shall (i) state briefly, the events causing a Designated Event and the date of
such Designated Event, (ii) specify the Designated Event Repurchase Price and
(iii) the Designated Event Repurchase Date.

                  (c) The Holder may exercise its rights specified in this
Section 5 upon delivery to the Company of (i) a written notice of purchase (a
"DESIGNATED EVENT REPURCHASE NOTICE") to the Company at any time on or prior to
5:00 p.m., New York time, on the Designated Event Repurchase Date stating the
portion of the Note which the Holder will deliver to be purchased, which portion
must be in principal amounts of $1,000 or an integral multiple of $1,000, and
irrevocably agreeing that such principal amount of the Note shall be purchased
by the Company as of the Designated Event Repurchase Date and (ii) this Note.

                  (d) In the event that this Note is repurchased in part, upon
surrender of this Note, the Company shall execute and deliver to the Holder a
new Note equal in principal amount to the unpurchased portion of the Note
surrendered.

         6. CONVERSION RIGHTS.

                  (a) Subject to and upon compliance with the provisions of this
Note, prior to the Stated Maturity Date, the Holder shall have the right, at its
option at any time, to convert some or all of the Note into such number of fully
paid and nonassessable shares of Common Stock as is obtained by: (i) adding (A)
the principal amount of this Note to be converted and (B) the amount of any
accrued but unpaid interest with respect to such portion of this Note to be
converted; and (ii) dividing the result obtained pursuant to clause (i) above by
the Conversion Price then in effect The rights of conversion set forth in this
Section 6 shall be exercised by the Holder by giving written notice to the
Company that the Holder elects to convert a stated amount of this Note into
Common Stock and by surrender of this Note (or, in lieu thereof, by delivery of
an appropriate lost security affidavit in the event this Note shall have been

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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) at any time on the date set forth in such notice (which date shall
not be earlier than the Company's receipt of such notice), together with a
statement of the name or names (with address) in which the certificate or
certificates for shares of Common Stock shall be issued.

                  (b) Promptly after receipt of the written notice referred to
in Section 6(a) above and surrender of this Note (or, in lieu thereof, by
delivery of an appropriate lost security affidavit in the event this Note shall
have been lost or destroyed), but in no event more than three (3) Business Days
thereafter, the Company shall issue and deliver, or cause to be issued and
delivered, to the Holder, registered in such name or names as the Holder may
direct in writing, a certificate or certificates for the number of whole shares
of Common Stock issuable upon the conversion of such portion of this Note. To
the extent permitted by law, such conversion shall be deemed to have been
effected, and the Conversion Price shall be determined, as of the close of
business on the date on which such written notice shall have been received by
the Company and this Note shall have been surrendered as aforesaid (or, in lieu
thereof, an appropriate lost security affidavit has been delivered to the
Company), and at such time, the rights of the Holder shall cease with respect to
the principal amount of the Notes being converted, and the Person or Persons in
whose name or names any certificate or certificates for shares of Common Stock
shall be issuable upon such conversion shall be deemed to have become the holder
or holders of record of the shares represented thereby.

                  (c) No fractional shares shall be issued upon any conversion
of this Note into Common Stock. If any fractional share of Common Stock would,
except for the provisions of the first sentence of this Section 6(c), be
delivered upon such conversion, the Company, in lieu of delivering such
fractional share, shall pay to the Holder an amount in cash equal to the Market
Price of such fractional share of Common Stock. In case the principal amount of
this Note exceeds the principal amount being converted, the Company shall, upon
such conversion, execute and deliver to the Holder, at the expense of the
Company, a new Note for the principal amount of this Note surrendered which is
not to be converted.

                  (d) If the Company shall, at any time or from time to time
while this Note is outstanding, pay a dividend or make a distribution on its
Common Stock in shares of Common Stock, subdivide its outstanding shares of
Common Stock into a greater number of shares or combine its outstanding shares
of Common Stock into a smaller number of shares or issue by reclassification of
its outstanding shares of Common Stock any shares of its capital stock
(including any such reclassification in connection with a consolidation or
merger in which the Company is the continuing corporation), then the Conversion
Price in effect immediately prior to the date upon which such change shall
become effective, shall be adjusted by the Company so that the Holder thereafter
converting this Note shall be entitled to receive the number of shares of Common
Stock or other capital stock which the Holder would have received if the Note
had been converted immediately prior to such event upon payment of a Conversion
Price that has been adjusted to reflect a fair allocation of the economics of
such event to the Holder, without regard to any conversion limitation specified
in this Section 6. Such adjustments shall be made successively whenever any
event listed above shall occur.

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                  (e) If any capital reorganization, reclassification of the
capital stock of the Company, consolidation or merger of the Company with
another corporation in which the Company is not the survivor, or sale, transfer
or other disposition of all or substantially all of the Company's assets to
another corporation shall be effected, then, as a condition of such
reorganization, reclassification, consolidation, merger, sale, transfer or other
disposition, lawful and adequate provision shall be made whereby the Holder
shall thereafter have the right to purchase and receive upon the basis and upon
the terms and conditions herein specified and in lieu of the shares of Common
Stock immediately theretofore issuable upon conversion of this Note, without
regard to any conversion limitation specified in Section 6, such shares of
stock, securities or assets as would have been issuable or payable with respect
to or in exchange for a number of shares of Common Stock equal to the number of
shares of Common Stock immediately theretofore issuable upon conversion of this
Note, had such reorganization, reclassification, consolidation, merger, sale,
transfer or other disposition not taken place, without regard to any conversion
limitation specified in Section 6, and in any such case appropriate provision
shall be made with respect to the rights and interests of the Holder to the end
that the provisions hereof (including, without limitation, provision for
adjustment of the Conversion Price) shall thereafter be applicable, as nearly
equivalent as may be practicable in relation to any shares of stock, securities
or assets thereafter deliverable upon the conversion hereof. The Company shall
not effect any such consolidation, merger, sale, transfer or other disposition
unless prior to or simultaneously with the consummation thereof the successor
corporation (if other than the Company) resulting from such consolidation or
merger, or the corporation purchasing or otherwise acquiring such assets or
other appropriate corporation or entity shall assume the obligation to deliver
to the Holder, at the last address of the Holder appearing on the books of the
Company, such shares of stock, securities or assets as, in accordance with the
foregoing provisions, the Holder may be entitled to purchase, without regard to
any conversion limitation specified in Section 6, and the other obligations
under this Note. The provisions of this paragraph (e) shall similarly apply to
successive reorganizations, reclassifications, consolidations, mergers, sales,
transfers or other dispositions.

                  (f) In case the Company shall fix a payment date for the
making of a distribution to all holders of Common Stock (including any such
distribution made in connection with a consolidation or merger in which the
Company is the continuing corporation) of evidences of indebtedness or assets
(other than cash dividends or cash distributions payable out of consolidated
earnings or earned surplus or dividends or distributions referred to in Section
6(d)), or subscription rights or Notes, the Conversion Price to be in effect
after such payment date shall be determined by multiplying the Conversion Price
in effect immediately prior to such payment date by a fraction, the numerator of
which shall be the total number of shares of Common Stock outstanding multiplied
by the Market Price of Common Stock immediately prior to such payment date, less
the fair market value (as determined by the Board of Directors in good faith) of
said assets or evidences of indebtedness so distributed, or of such subscription
rights or Notes, and the denominator of which shall be the total number of
shares of Common Stock outstanding multiplied by such Market Price immediately
prior to such payment date. Such adjustment shall be made successively whenever
such a payment date is fixed.

                  (g) An adjustment to the Conversion Price shall become
effective immediately after the payment date in the case of each dividend or
distribution and immediately after the effective date of each other event which
requires an adjustment.

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                  (h) In the event that, as a result of an adjustment made
pursuant to this Section 6, the Holder shall become entitled to receive any
shares of capital stock of the Company other than shares of Common Stock, the
number of such other shares so receivable upon conversion of this Note shall be
subject thereafter to adjustment from time to time in a manner and on terms as
nearly equivalent as practicable to the provisions contained in this Note.

                  (i) Except as provided in Section 6(j) below, if and whenever
the Company shall issue or sell, or is, in accordance with Sections 5(i)(i)
through 5(i)(vii) hereof, deemed to have issued or sold, any shares of Common
Stock for a consideration per share less than $0.35 (a "TRIGGER ISSUANCE"),
effective as of the close of business on the effective date of the Trigger
Issuance the then-existing Conversion Price shall be reduced to a price
determined as follows:

                  Adjusted Conversion Price = (A X B) + D
                                              -----------
                                                  A+C

                                    where

                                    "A" equals the number of shares of Common
Stock outstanding, including Additional Shares of Common Stock (as defined
below) deemed to be issued hereunder, immediately preceding such Trigger
Issuance;

                                    "B" equals the Conversion Price in effect
immediately preceding such Trigger Issuance;

                                    "C" equals the number of Additional Shares
of Common Stock issued or deemed issued hereunder as a result of the Trigger
Issuance; and

                                    "D" equals the aggregate consideration, if
any, received or deemed to be received by the Company upon such Trigger
Issuance;

provided, however, that in no event shall the Conversion Price after giving
effect to such Trigger Issuance be greater than the Conversion Price in effect
prior to such Trigger Issuance.

                  For purposes of this subsection (i), "Additional Shares of
Common Stock" shall mean all shares of Common Stock issued by the Company or
deemed to be issued pursuant to this subsection (i), other than Excluded
Issuances (as defined in subsection (j) hereof).

                  If, however, any Trigger Issuance occurs at any time during
the period commencing on October 6, 2004 through April 6, 2006 then immediately
upon the Trigger Issuance, the Conversion Price will be reduced to the lower of
(i) such price as determined in the foregoing of this Section 6(i), or (ii) the
amount of the consideration per share received by the Company in such Trigger
Issuance; provided that only one adjustment will be made for each Trigger
Issuance.

                  For purposes of this Section 6(i), the following subsections
(i)(i) to (i)(vii) shall also be applicable (subject, in each such case, to the
provisions of Section 6(j) hereof):

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                           (i) In case at any time the Company shall in any
manner grant (directly and not by assumption in a merger or otherwise) any Notes
or other rights to subscribe for or to purchase, or any options for the purchase
of, Common Stock or any stock or security convertible into or exchangeable for
Common Stock (such Notes, rights or options being called "OPTIONS" and such
convertible or exchangeable stock or securities being called "CONVERTIBLE
SECURITIES") whether or not such Options or the right to convert or exchange any
such Convertible Securities are immediately exercisable, and the price per share
for which Common Stock is issuable upon the exercise of such Options or upon the
conversion or exchange of such Convertible Securities (determined by dividing
(i) the sum (which sum shall constitute the applicable consideration) of (x) the
total amount, if any, received or receivable by the Company as consideration for
the granting of such Options, plus (y) the aggregate amount of additional
consideration payable to the Company upon the exercise of all such Options, plus
(z), in the case of such Options which relate to Convertible Securities, the
aggregate amount of additional consideration, if any, payable upon the issue or
sale of such Convertible Securities and upon the conversion or exchange thereof,
by (ii) the total maximum number of shares of Common Stock issuable upon the
exercise of such Options or upon the conversion or exchange of all such
Convertible Securities issuable upon the exercise of such Options) shall be less
than the Market Price of the Common Stock immediately prior to the time of the
granting of such Options, then the total number of shares of Common Stock
issuable upon the exercise of such Options or upon conversion or exchange of the
total amount of such Convertible Securities issuable upon the exercise of such
Options shall be deemed to have been issued for such price per share as of the
date of granting of such Options or the issuance of such Convertible Securities
and thereafter shall be deemed to be outstanding for purposes of adjusting the
Conversion Price. Except as otherwise provided in subsection 6(i)(iii), no
adjustment of the Conversion Price shall be made upon the actual issue of such
Common Stock or of such Convertible Securities upon exercise of such Options or
upon the actual issue of such Common Stock upon conversion or exchange of such
Convertible Securities.

                           (ii) In case the Company shall in any manner issue
(directly and not by assumption in a merger or otherwise) or sell any
Convertible Securities, whether or not the rights to exchange or convert any
such Convertible Securities are immediately exercisable, and the price per share
for which Common Stock is issuable upon such conversion or exchange (determined
by dividing (i) the sum (which sum shall constitute the applicable
consideration) of (x) the total amount received or receivable by the Company as
consideration for the issue or sale of such Convertible Securities, plus (y) the
aggregate amount of additional consideration, if any, payable to the Company
upon the conversion or exchange thereof, by (ii) the total number of shares of
Common Stock issuable upon the conversion or exchange of all such Convertible
Securities) shall be less than the Market Price of the Common Stock immediately
prior to the time of such issue or sale, then the total maximum number of shares
of Common Stock issuable upon conversion or exchange of all such Convertible
Securities shall be deemed to have been issued for such price per share as of
the date of the issue or sale of such Convertible Securities and thereafter
shall be deemed to be outstanding for purposes of adjusting the Conversion
Price, provided that (a) except as otherwise provided in subsection 6(i)(iii),
no 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
(b) no further adjustment of the Conversion Price shall be made by reason of the
issue or sale of Convertible Securities upon exercise of any Options to purchase
any such Convertible Securities for which adjustments of the Conversion Price
have been made pursuant to the other provisions of subsection 6(i).

                                       10
<PAGE>

                           (iii) Upon the happening of any of the following
events, namely, if the purchase price provided for in any Option referred to in
subsection 6(i)(i) hereof, the additional consideration, if any, payable upon
the conversion or exchange of any Convertible Securities referred to in
subsections 5(i)(i) or 5(i)(ii), or the rate at which Convertible Securities
referred to in subsections 5(i)(i) or 5(i)(ii) are convertible into or
exchangeable for Common Stock shall change at any time (including, but not
limited to, changes under or by reason of provisions designed to protect against
dilution), the Conversion Price in effect at the time of such event shall
forthwith be readjusted to the Conversion Price which would have been in effect
at such time had such Options or Convertible Securities still outstanding
provided for such changed purchase price, additional consideration or conversion
rate, as the case may be, at the time initially granted, issued or sold. On the
termination of any Option for which any adjustment was made pursuant to this
subsection 6(i) or any right to convert or exchange Convertible Securities for
which any adjustment was made pursuant to this subsection 6(i) (including
without limitation upon the redemption or purchase for consideration of such
Convertible Securities by the Company), the Conversion Price then in effect
hereunder shall forthwith be changed to the Conversion Price which would have
been in effect at the time of such termination had such Option or Convertible
Securities, to the extent outstanding immediately prior to such termination,
never been issued.

                           (iv) Subject to the provisions of this Section 6(i),
in case the Company shall declare a dividend or make any other distribution upon
any stock of the Company (other than the Common Stock) payable in Common Stock,
Options or Convertible Securities, then any Common Stock, Options or Convertible
Securities, as the case may be, issuable in payment of such dividend or
distribution shall be deemed to have been issued or sold without consideration.

                           (v) In case any shares of Common Stock, Options or
Convertible Securities shall be issued or sold for cash, the consideration
received therefor shall be deemed to be the net amount received by the Company
therefor, after deduction therefrom of any expenses incurred or any underwriting
commissions or concessions paid or allowed by the Company in connection
therewith. In case any shares of Common Stock, Options or Convertible Securities
shall be issued or sold for a consideration other than cash, the amount of the
consideration other than cash received by the Company shall be deemed to be the
fair value of such consideration as determined in good faith by the Board of
Directors, after deduction of any expenses incurred or any underwriting
commissions or concessions paid or allowed by the Company in connection
therewith. In case any Options shall be issued in connection with the issue and
sale of other securities of the Company, together comprising one integral
transaction in which no specific consideration is allocated to such Options by
the parties thereto, such Options shall be deemed to have been issued for such
consideration as determined in good faith by the Board of Directors of the
Company. If Common Stock, Options or Convertible Securities shall be issued or
sold by the Company and, in connection therewith, other Options or Convertible
Securities (the "ADDITIONAL RIGHTS") are issued, then the consideration received
or deemed to be received by the Company shall be reduced by the fair market
value of the Additional Rights (as determined using the Black-Scholes option

                                       11
<PAGE>

pricing model or another method mutually agreed to by the Company and the
Holder). The Board of Directors shall respond promptly, in writing, to an
inquiry by the Holder as to the fair market value of the Additional Rights. In
the event that the Board of Directors and the Holder are unable to agree upon
the fair market value of the Additional Rights, the Company and the Holder shall
jointly select an appraiser, who is experienced in such matters. The decision of
such appraiser shall be final and conclusive, and the cost of such appraiser
shall be borne evenly by the Company and the Holder.

                           (vi) In case the Company shall take a record of the
holders of its Common Stock for the purpose of entitling them (i) to receive a
dividend or other distribution payable in Common Stock, Options or Convertible
Securities or (ii) to subscribe for or purchase Common Stock, Options or
Convertible Securities, then such record date shall 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.

                           (vii) The number of shares of Common Stock
outstanding at any given time shall not include shares owned or held by or for
the account of the Company or any of its wholly-owned subsidiaries, and the
disposition of any such shares (other than the cancellation or retirement
thereof) shall be considered an issue or sale of Common Stock for the purpose of
this subsection (i).

                  (j) Anything herein to the contrary notwithstanding, the
Company shall not be required to make any adjustment of the Conversion Price in
the case of the issuance of (A) capital stock, Options or Convertible Securities
issued to directors, officers, employees or consultants of the Company in
connection with their service as directors of the Company, their employment by
the Company or their retention as consultants by the Company pursuant to an
equity compensation program approved by the Board of Directors or the
compensation committee of the Board of Directors, (B) shares of Common Stock
issued upon the conversion or exercise of Options or Convertible Securities
issued prior to the date hereof, provided such securities are not amended after
the date hereof (C) securities issued pursuant to the Purchase Agreement and
securities issued upon the exercise or conversion of those securities, and (D)
shares of Common Stock issued or issuable by reason of a dividend, stock split
or other distribution on shares of Common Stock (but only to the extent that
such a dividend, split or distribution results in an adjustment in the
Conversion Price pursuant to the other provisions of this Note) (collectively,
"EXCLUDED ISSUANCES").

                  (k) Notwithstanding anything herein to the contrary, in no
event shall the Holder be entitled to convert any portion of this Note in excess
of that portion upon conversion of which the sum of (1) the number of shares of
Common Stock beneficially owned by such Holder and its Affiliates (other than
shares of Common Stock which may be deemed beneficially owned through ownership
of the unconverted portion of this Note or the unexercised or unconverted
portion of any other security of the holder subject to a limitation on
conversion analogous to the limitations contained herein) and (2) the number of
shares of Common Stock issuable upon the conversion of that portion of this Note
with respect to which the determination of this proviso is being made, would
result in beneficial ownership by the Holder and its Affiliates of more than
9.99% of the then outstanding shares of Common Stock. The waiver by the Holder
of any limitation contained in an Option or Convertible Security now or
hereafter held by such holder that is similar or analogous to the limitations

                                       12
<PAGE>

set forth in this Section 6(k) shall not be deemed a waiver or otherwise effect
the limitation set forth in this Section 6(k), unless such waiver expressly
states it is a waiver of the provisions of this Section 6(k). For purposes of
this Section 6(k), beneficial ownership shall be determined in accordance with
Section 13(d) of the Exchange Act and Regulations 13D-G thereunder, except as
otherwise provided in clause (1) of such proviso. The Holder may waive the
limitations set forth herein by sixty-one (61) days written notice to the
Company.

                  (l) In case at any time:

                           (i) the Company shall declare any dividend upon its
Common Stock or any other class or series of capital stock of the Company
payable in cash or stock or make any other distribution to the holders of its
Common Stock or any such other class or series of capital stock;

                           (ii) the Company shall offer for subscription PRO
RATA to the holders of its Common Stock or any other class or series of capital
stock of the Company any additional shares of stock of any class or other
rights; or

                           (iii) there shall be any capital reorganization or
reclassification of the capital stock of the Company, any acquisition or a
liquidation, dissolution or winding up of the Company;

then, in any one or more of said cases, the Company shall give, by delivery in
person or by certified or registered mail, return receipt requested, addressed
to the Holder at the address of such Holder as shown on the books of the
Company, (a) at least 20 Business Days' prior written notice of the date on
which the books of the Company shall close or a record shall be taken for such
dividend, distribution or subscription rights or for determining rights to vote
in respect of any event set forth in clause (iii) of this Section 6(l) and (b)
in the case of any event set forth in clause (iii) of this Section 6(l), at
least 20 Business Days' prior written notice of the date when the same shall
take place. Such notice in accordance with the foregoing clause (a) shall also
specify, in the case of any such dividend, distribution or subscription rights,
the date on which the holders of Common Stock or such other class or series of
capital stock shall be entitled thereto and such notice in accordance with the
foregoing clause (b) shall also specify the date on which the holders of Common
Stock and such other series or class of capital stock shall be entitled to
exchange their Common Stock and other stock for securities or other property
deliverable upon consummation of the applicable event set forth in clause (iii)
of this Section 6(l).

                  (m) Upon any adjustment of the Conversion Price, then and in
each such case the Company shall give prompt written notice thereof, by delivery
in person or by certified or registered mail, return receipt requested,
addressed to the Holder at the address of such Holder as shown on the books of
the Company, which notice shall state the Conversion Price resulting from such
adjustment and setting forth in reasonable detail the method upon which such
calculation is based.

                  (n) The Company shall at all times to reserve and keep
available out of its authorized Common Stock, solely for the purpose of issuance
upon conversion of this Note as herein provided, such number of shares of Common
Stock as shall then be issuable upon the conversion of this Note without regard
to the conversion limitations set forth in Section 6. The Company covenants that
all shares of Common Stock which shall be so issued shall be duly and validly
issued and fully paid and nonassessable, and free from all taxes, liens and

                                       13
<PAGE>

charges with respect to the issue thereof, and, without limiting the generality
of the foregoing, and that the Company will from time to time take all such
action as may be requisite to assure that the par value per share of the Common
Stock is at all times equal to or less than the Conversion Price in effect at
the time. The Company shall take all such action as may be necessary to assure
that all such shares of Common Stock may be so issued without violation of any
applicable law or regulation, or of any requirement of any national securities
exchange upon which the Common Stock may be listed. The Company shall not take
any action which results in any adjustment of the Conversion Price if the total
number of shares of Common Stock issued and issuable after such action upon
conversion of this Note would exceed the total number of shares of Common Stock
then authorized by the Company's articles of association or memorandum of
association.

                  (o) The issuance of certificates for shares of Common Stock
upon conversion of this Note shall be made without charge to the holders thereof
for any issuance tax in respect thereof, provided that the Company shall not be
required to pay any tax which may be payable in respect of any transfer involved
in the issuance and delivery of any certificate in a name other than that of the
Holder.

                  (p) The Company will not at any time close its transfer books
against the transfer, as applicable, of this Note or of any shares of Common
Stock issued or issuable upon the conversion of this Note in any manner which
interferes with the timely conversion of this Note, except as may otherwise be
required to comply with applicable securities laws.

                  (q) To the extent permitted by applicable law and the listing
requirements of the Nasdaq Stock Market and any exchange in which the Common
Stock is then listed, the Company from time to time may decrease the Conversion
Price by any amount for any period of time if the period is at least twenty (20)
days, the decrease is irrevocable during the period and the Board of Directors
shall have made a determination that such decrease would be in the best
interests of the Company, which determination shall be conclusive. Whenever the
Conversion Price is decreased pursuant to the preceding sentence, the Company
shall provide written notice thereof to the Holder at least fifteen (15) days
prior to the date the decreased Conversion Price takes effect, and such notice
shall state the decreased Conversion Rate and the period during which it will be
in effect.

         7. EVENT OF DEFAULT. The occurrence of any of following events shall
constitute an "EVENT OF DEFAULT" hereunder:

                  (a) the failure of the Company to make any payment of
principal on this Note when due, whether at maturity, upon acceleration or
otherwise;

                  (b) the failure of the Company to make any payment of interest
on this Note, or any other amounts due under the Purchase Agreement, the
Registration Rights Agreement or this Note or the Warrants when due, whether at
maturity, upon acceleration or otherwise, and such failure continues for more
than five (5) days;

                                       14
<PAGE>

                  (c) the Company and/or its Subsidiaries fail to make a
required payment or payments on indebtedness for borrowed money of Twenty-Five
Thousand United States Dollars ($25,000) or more in aggregate principal amount
and such failure continues for more than ten (10) days;

                  (d) there shall have occurred an acceleration of the stated
maturity of any indebtedness for borrowed money of the Company or its
Subsidiaries of Twenty-Five Thousand United States 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 a Subsidiary
of notice of such acceleration);

                  (e) the Company makes an assignment for the benefit of
creditors or admits in writing its inability to pay its debts generally as they
become due; or an order, judgment or decree is entered adjudicating the Company
as bankrupt or insolvent; or any order for relief with respect to the Company is
entered under the Federal Bankruptcy Code or any other bankruptcy or insolvency
law; or the Company petitions or applies to any tribunal for the appointment of
a custodian, trustee, receiver or liquidator of the Company or of any
substantial part of the assets of the Company, or commences any proceeding
relating to it under any bankruptcy, reorganization, arrangement, insolvency,
readjustment of debt, dissolution or liquidation law of any jurisdiction; or any
such petition or application is filed, or any such proceeding is commenced,
against the Company and either (i) the Company by any act indicates its approval
thereof, consents thereto or acquiescence therein or (ii) such petition
application or proceeding is not dismissed within sixty (60) days;

                  (f) a final, non-appealable judgment which, in the aggregate
with other outstanding final judgments against the Company and its Subsidiaries,
exceeds Twenty-Five Thousand United States Dollars ($25,000) shall be rendered
against the Company or a Subsidiary and within sixty (60) days after entry
thereof, such judgment is not discharged or execution thereof stayed pending
appeal, or within sixty (60) days after the expiration of such stay, such
judgment is not discharged;

                  (g) the Company is in breach of the requirements of Section
7.9 of the Purchase Agreement;

                  (h) if any representation or statement of fact made in the
Purchase Agreement or furnished to the Holder at any time by or on behalf of the
Company proves to have been false in any material respect when made or
furnished; or

                  (i) if the Company fails to observe or perform in any material
respect any of its covenants contained in the Purchase Agreement, the
Registration Rights Agreement, the Warrants or this Note (other than any failure
which is covered by Section 7(a), (b) or (g)), and such failure continues for
thirty (30) days after receipt by the Company of notice thereof.

                  Upon the occurrence of any such Event of Default all unpaid
principal and accrued interest under this Note shall become immediately due and
payable (A) upon election of the Holder, with respect to (a) through (d) and (f)
through (i), and (B) automatically, with respect to (e). Upon the occurrence of
an Event of Default, the Holder shall have the right to exercise any other

                                       15
<PAGE>

right, power or remedy as may be provided herein or in the Security Agreement or
as may be provided at law or in equity, INCLUDING, WITHOUT LIMITATION, the right
realize on its interest in the Collateral.

         8. NO WAIVER. No delay or omission on the part of the Holder in
exercising any right under this Note shall operate as a waiver of such right or
of any other right of the Holder, nor shall any delay, omission or waiver on any
one occasion be deemed a bar to or waiver of the same or any other right on any
future occasion.

         9. AMENDMENTS IN WRITING. None of the terms or provisions of this Note
may be excluded, modified or amended except by a written instrument duly
executed by the Holder and the Company expressly referring to this Note and
setting forth the provision so excluded, modified or amended.

         10. WAIVERS. The Company hereby forever waives presentment, demand,
presentment for payment, protest, notice of protest, notice of dishonor of this
Note and all other demands and notices in connection with the delivery,
acceptance, performance and enforcement of this Note.

         11. WAIVER OF JURY TRIAL. THE COMPANY HEREBY WAIVES ITS RIGHT TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS NOTE OR
ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL
OTHER CLAIMS. THE COMPANY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

         12. GOVERING LAW; CONSENT TO JURISDICTION. This Note shall be governed
by and construed under the law of the State of New York, without giving effect
to the conflicts of law principles thereof. The Company and, by accepting this
Note, the Holder, each 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 each party hereto anywhere in
the world by the same methods as are specified for the giving of notices under
this Note. The Company and, by accepting this Note, the Holder, each 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. The Company and, by
accepting this Note, the Holder, each 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.

         13. COSTS. If action is instituted to collect on this Note, the Company
promises to pay all costs and expenses, including reasonable attorney's fees,
incurred in connection with such action.

         14. NOTICES. All notices hereunder shall be given in writing and shall
be deemed delivered when received by the other party hereto at the address set
forth in the Purchase Agreement or at such other address as may be specified by
such party from time to time in accordance with the Purchase Agreement.

                                       16
<PAGE>

15. SUCCESSORS AND ASSIGNS. This Note shall be binding upon the successors or
assigns of the Company and shall inure to the benefit of the successors and
assigns of the Holder.

                  [Remainder of Page Intentionally Left Blank]

                                       17
<PAGE>

                                               VISIJET, INC.

                                               By:  /S/ RANDAL A. BAILEY
                                                    ----------------------------
                                                    Name: Randal A. Bailey
                                                    Title:  President

                                       18<PAGE>

                                                                   Exhibit 10.43

         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(K), 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.

         THIS WARRANT SHALL BE VOID AFTER 5:00 P.M. EASTERN TIME ON JULY 23,
2011 (the "EXPIRATION DATE").

No. 1
As Amended October 6, 2004

                                  VISIJET, INC.

                      WARRANT TO PURCHASE 750,000 SHARES OF
                    COMMON STOCK, PAR VALUE $0.001 PER SHARE

         For VALUE RECEIVED, LibertyView Special Opportunities Fund, LP
("Warrantholder"), is entitled to purchase, subject to the provisions of this
Warrant, from VisiJet, Inc., a Delaware corporation ("Company"), at any time not
later than 5:00 P.M., Eastern time, on the Expiration Date (as defined above),
at an exercise price per share equal to $0.40 (the exercise price in effect
being herein called the "Warrant Price"), Seven Hundred Fifty Thousand (750,000)
shares ("Warrant Shares") of the Company's Common Stock, par value $0.001 per
share ("Common Stock"). The number of Warrant Shares purchasable upon exercise
of this Warrant and the Warrant Price shall be subject to adjustment from time
to time as described herein.

         Section 1. REGISTRATION. The Company shall maintain books for the
transfer and registration of the Warrant. Upon the initial issuance of this
Warrant, the Company shall issue and register the Warrant in the name of the
Warrantholder.

         Section 2. TRANSFERS. As provided herein, this Warrant may be
transferred only pursuant to a registration statement filed under the Securities
Act of 1933, as amended (the "Securities Act"), or an exemption from such
registration. Subject to such restrictions, the Company shall transfer this
Warrant from time to time upon the books to be maintained by the Company for
that purpose, upon surrender thereof for transfer properly endorsed or
accompanied by appropriate instructions for transfer and such other documents as
may be reasonably required by the Company, including, if required by the
Company, an opinion of its counsel to the effect that such transfer is exempt
from the registration requirements of the Securities Act, to establish that such
transfer is being made in accordance with the terms hereof, and a new Warrant
shall be issued to the transferee and the surrendered Warrant shall be canceled
by the Company.

<PAGE>

         Section 3. EXERCISE OF WARRANT. Subject to the provisions hereof, the
Warrantholder may exercise this Warrant in whole or in part at any time prior to
its expiration upon surrender of the Warrant, together with delivery of the duly
executed Warrant exercise form attached hereto as Appendix A (the "Exercise
Agreement") and payment by cash, certified check or wire transfer of funds (or
by cash-less exercise as provided below) for the aggregate Warrant Price for
that number of Warrant Shares then being purchased, to the Company during normal
business hours on any business day at the Company's principal executive offices
(or such other office or agency of the Company as it may designate by notice to
the Warrantholder). The Warrant Shares so purchased shall be deemed to be issued
to the Warrantholder or the Warrantholder's designee, as the record owner of
such shares, as of the close of business on the date on which this Warrant shall
have been surrendered (or evidence of loss, theft or destruction thereof and
security or indemnity satisfactory to the Company), the Warrant Price shall have
been paid and the completed Exercise Agreement shall have been delivered.
Certificates for the Warrant Shares so purchased, representing the aggregate
number of shares specified in the Exercise Agreement, shall be delivered to the
Warrantholder within a reasonable time, not exceeding three (3) business days,
after this Warrant shall have been so exercised. The certificates so delivered
shall be in such denominations as may be requested by the Warrantholder and
shall be registered in the name of the Warrantholder or such other name as shall
be designated by the Warrantholder. If this Warrant shall have been exercised
only in part, then, unless this Warrant has expired, the Company shall, at its
expense, at the time of delivery of such certificates, deliver to the
Warrantholder a new Warrant representing the number of shares with respect to
which this Warrant shall not then have been exercised. As used herein, "business
day" means a day, other than a Saturday or Sunday, on which banks in New York
City are open for the general transaction of business. Each exercise hereof
shall constitute the re-affirmation by the Warrantholder that the
representations and warranties contained in Section 5 of the Purchase Agreement
(as defined below) are true and correct in all material respects with respect to
the Warrantholder as of the time of such exercise.

         Section 4. COMPLIANCE WITH THE SECURITIES ACT OF 1933. Except as
provided in the Purchase Agreement (as defined below), the Company may cause the
legend set forth on the first page of this Warrant to be set forth on each
Warrant or similar legend on any security issued or issuable upon exercise of
this Warrant, unless counsel for the Company is of the opinion as to any such
security that such legend is unnecessary.

         Section 5. PAYMENT OF TAXES. The Company 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 Company 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 Warrantholder in respect of which such shares are
issued, and in such case, the Company 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 Company the amount of such tax or has established to
the Company's reasonable satisfaction that such tax has been paid. The
Warrantholder shall be responsible for income taxes due under federal, state or
other law, if any such tax is due.

                                       2
<PAGE>

         Section 6. MUTILATED OR MISSING WARRANTS. In case this Warrant shall be
mutilated, lost, stolen, or destroyed, the Company 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 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 Company of such loss,
theft or destruction of the Warrant, and with respect to a lost, stolen or
destroyed Warrant, reasonable indemnity or bond with respect thereto, if
requested by the Company.

         Section 7. RESERVATION OF COMMON STOCK. The Company hereby represents
and warrants that there have been reserved, and the Company shall at all
applicable times keep reserved until issued (if necessary) as contemplated by
this Section 7, out of the authorized and unissued shares of Common Stock,
sufficient shares to provide for the exercise of the rights of purchase
represented by this Warrant. The Company agrees that all Warrant Shares issued
upon due exercise of the Warrant shall be, at the time of delivery of the
certificates for such Warrant Shares, duly authorized, validly issued, fully
paid and non-assessable shares of Common Stock of the Company.

         Section 8. ADJUSTMENTS. Subject and pursuant to the provisions of this
Section 8, the Warrant Price and number of Warrant Shares subject to this
Warrant shall be subject to adjustment from time to time as set forth
hereinafter.

                  (a) If the Company shall, at any time or from time to time
while this Warrant is outstanding, pay a dividend or make a distribution on its
Common Stock in shares of Common Stock, subdivide its outstanding shares of
Common Stock into a greater number of shares or combine its outstanding shares
of Common Stock into a smaller number of shares or issue by reclassification of
its outstanding shares of Common Stock any shares of its capital stock
(including any such reclassification in connection with a consolidation or
merger in which the Company is the continuing corporation), then the number of
Warrant Shares purchasable upon exercise of the Warrant and the Warrant Price in
effect immediately prior to the date upon which such change shall become
effective, shall be adjusted by the Company so that the Warrantholder thereafter
exercising the Warrant shall be entitled to receive the number of shares of
Common Stock or other capital stock which the Warrantholder would have received
if the Warrant had been exercised immediately prior to such event upon payment
of a Warrant Price that has been adjusted to reflect a fair allocation of the
economics of such event to the Warrantholder. Such adjustments shall be made
successively whenever any event listed above shall occur.

                  (b) If any capital reorganization, reclassification of the
capital stock of the Company, consolidation or merger of the Company with
another corporation in which the Company is not the survivor, or sale, transfer
or other disposition of all or substantially all of the Company's assets to
another corporation shall be effected, then, as a condition of such
reorganization, reclassification, consolidation, merger, sale, transfer or other
disposition, lawful and adequate provision shall be made whereby each
Warrantholder shall thereafter have the right to purchase and receive upon the

                                       3
<PAGE>

basis and upon the terms and conditions herein specified and in lieu of the
Warrant Shares immediately theretofore issuable upon exercise of the Warrant,
such shares of stock, securities or assets as would have been issuable or
payable with respect to or in exchange for a number of Warrant Shares equal to
the number of Warrant Shares immediately theretofore issuable upon exercise of
the Warrant, had such reorganization, reclassification, consolidation, merger,
sale, transfer or other disposition not taken place, and in any such case
appropriate provision shall be made with respect to the rights and interests of
each Warrantholder to the end that the provisions hereof (including, without
limitation, provision for adjustment of the Warrant Price) shall thereafter be
applicable, as nearly equivalent as may be practicable in relation to any shares
of stock, securities or assets thereafter deliverable upon the exercise hereof.
The Company shall not effect any such consolidation, merger, sale, transfer or
other disposition unless prior to or simultaneously with the consummation
thereof the successor corporation (if other than the Company) resulting from
such consolidation or merger, or the corporation purchasing or otherwise
acquiring such assets or other appropriate corporation or entity shall assume
the obligation to deliver to the Warrantholder, at the last address of the
Warrantholder appearing on the books of the Company, such shares of stock,
securities or assets as, in accordance with the foregoing provisions, the
Warrantholder may be entitled to purchase, and the other obligations under this
Warrant. The provisions of this paragraph (b) shall similarly apply to
successive reorganizations, reclassifications, consolidations, mergers, sales,
transfers or other dispositions.

                  (c) In case the Company shall fix a payment date for the
making of a distribution to all holders of Common Stock (including any such
distribution made in connection with a consolidation or merger in which the
Company is the continuing corporation) of evidences of indebtedness or assets
(other than cash dividends or cash distributions payable out of consolidated
earnings or earned surplus or dividends or distributions referred to in Section
8(a)), or subscription rights or warrants, the Warrant Price to be in effect
after such payment date shall be determined by multiplying the Warrant Price in
effect immediately prior to such payment date by a fraction, the numerator of
which shall be the total number of shares of Common Stock outstanding multiplied
by the Market Price (as defined below) per share of Common Stock immediately
prior to such payment date, less the fair market value (as determined by the
Company's Board of Directors in good faith) of said assets or evidences of
indebtedness so distributed, or of such subscription rights or warrants, and the
denominator of which shall be the total number of shares of Common Stock
outstanding multiplied by such Market Price per share of Common Stock
immediately prior to such payment date. "Market Price" as of a particular date
(the "Valuation Date") shall mean the following: (a) if the Common Stock is then
listed on a national stock exchange, the closing sale price of one share of
Common Stock on such exchange on the last trading day prior to the Valuation
Date; (b) if the Common Stock is then quoted on The Nasdaq Stock Market, Inc.
("Nasdaq"), the National Association of Securities Dealers, Inc. OTC Bulletin
Board (the "Bulletin Board") or such similar exchange or association, the
closing sale price of one share of Common Stock on Nasdaq, the Bulletin Board or
such other exchange or association on the last trading day prior to the
Valuation Date or, if no such closing sale price is available, the average of
the high bid and the low asked price quoted thereon on the last trading day

                                       4
<PAGE>

prior to the Valuation Date; or (c) if the Common Stock is not then listed on a
national stock exchange or quoted on Nasdaq, the Bulletin Board or such other
exchange or association, 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 Company and the Warrantholder. If the Common Stock is not then
listed on a national securities exchange, the Bulletin Board or such other
exchange or association, the Board of Directors of the Company shall respond
promptly, in writing, to an inquiry by the Warrantholder prior to the exercise
hereunder as to the fair market value of a share of Common Stock as determined
by the Board of Directors of the Company. In the event that the Board of
Directors of the Company and the Warrantholder are unable to agree upon the fair
market value in respect of subpart (c) hereof, the Company and the Warrantholder
shall jointly select an appraiser, who is experienced in such matters. The
decision of such appraiser shall be final and conclusive, and the cost of such
appraiser shall be borne equally by the Company and the Warrantholder. Such
adjustment shall be made successively whenever such a payment date is fixed.

                  (d) An adjustment to the Warrant Price shall become effective
immediately after the payment date in the case of each dividend or distribution
and immediately after the effective date of each other event which requires an
adjustment.

                  (e) In the event that, as a result of an adjustment made
pursuant to this Section 8, the Warrantholder shall become entitled to receive
any shares of capital stock of the Company 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.

                  (f) Except as provided in subsection (g) hereof, if and
whenever the Company shall issue or sell, or is, in accordance with any of
subsections (f)(l) through (f)(7) hereof, deemed to have issued or sold, any
shares of Common Stock for no consideration or for a consideration per share
less than $0.40, then and in each such case (a "TRIGGER ISSUANCE") the
then-existing Warrant Price, shall be reduced, as of the close of business on
the effective date of the Trigger Issuance, to a price determined as follows:

                  Adjusted Warrant Price = (A X B) + D
                                           -----------
                                               A+C

                                    where

                                    "A" equals the number of shares of Common
Stock outstanding, including Additional Shares of Common Stock (as defined
below) deemed to be issued hereunder, immediately preceding such Trigger
Issuance;

                                    "B" equals the Warrant Price in effect
immediately preceding such Trigger Issuance;

                                    "C" equals the number of Additional Shares
of Common Stock issued or deemed issued hereunder as a result of the Trigger
Issuance; and

                                    "D" equals the aggregate consideration, if
any, received or deemed to be received by the Company upon such Trigger
Issuance

                                       5
<PAGE>

provided, however, that in no event shall the Warrant Price after giving effect
to such Trigger Issuance be greater than the Warrant Price in effect prior to
such Trigger Issuance.

                  For purposes of this subsection (f), "Additional Shares of
Common Stock" shall mean all shares of Common Stock issued by the Company or
deemed to be issued pursuant to this subsection (f), other than Excluded
Issuances (as defined in subsection (g) hereof).

                  If, however, any Trigger Issuance occurs at any time during
the period commencing on October 6, 2004 through April 6, 2006, then immediately
upon the Trigger Issuance the Exercise Price will be reduced to the lower of (i)
such price as determined in the foregoing sentence, or (ii) the amount of the
consideration per share received by the Company in such Trigger Issuance;
provided that only one adjustment will be made for each Trigger Issuance.

                  For purposes of this subsection (f), the following subsections
(f)(l) to (f)(7) shall also be applicable:

                           (f)(1) Issuance of Rights or Options. In case at any
                  time the Company shall in any manner grant (directly and not
                  by assumption in a merger or otherwise) any warrants or other
                  rights to subscribe for or to purchase, or any options for the
                  purchase of, Common Stock or any stock or security convertible
                  into or exchangeable for Common Stock (such warrants, rights
                  or options being called "Options" and such convertible or
                  exchangeable stock or securities being called "Convertible
                  Securities") whether or not such Options or the right to
                  convert or exchange any such Convertible Securities are
                  immediately exercisable, and the price per share for which
                  Common Stock is issuable upon the exercise of such Options or
                  upon the conversion or exchange of such Convertible Securities
                  (determined by dividing (i) the sum (which sum shall
                  constitute the applicable consideration) of (x) the total
                  amount, if any, received or receivable by the Company as
                  consideration for the granting of such Options, plus (y) the
                  aggregate amount of additional consideration payable to the
                  Company upon the exercise of all such Options, plus (z), in
                  the case of such Options which relate to Convertible
                  Securities, the aggregate amount of additional consideration,
                  if any, payable upon the issue or sale of such Convertible
                  Securities and upon the conversion or exchange thereof, by
                  (ii) the total maximum number of shares of Common Stock
                  issuable upon the exercise of such Options or upon the
                  conversion or exchange of all such Convertible Securities
                  issuable upon the exercise of such Options) shall be less than
                  the Warrant Price in effect immediately prior to the time of
                  the granting of such Options, then the total number of shares
                  of Common Stock issuable upon the exercise of such Options or
                  upon conversion or exchange of the total amount of such
                  Convertible Securities issuable upon the exercise of such

                                       6
<PAGE>

                  Options shall be deemed to have been issued for such price per
                  share as of the date of granting of such Options or the
                  issuance of such Convertible Securities and thereafter shall
                  be deemed to be outstanding for purposes of adjusting the
                  Warrant Price. Except as otherwise provided in subsection
                  8(f)(3), no adjustment of the Warrant Price shall be made upon
                  the actual issue of such Common Stock or of such Convertible
                  Securities upon exercise of such Options or upon the actual
                  issue of such Common Stock upon conversion or exchange of such
                  Convertible Securities.

                           (f)(2) Issuance of Convertible Securities. In case
                  the Company shall in any manner issue (directly and not by
                  assumption in a merger or otherwise) or sell any Convertible
                  Securities, whether or not the rights to exchange or convert
                  any such Convertible Securities are immediately exercisable,
                  and the price per share for which Common Stock is issuable
                  upon such conversion or exchange (determined by dividing (i)
                  the sum (which sum shall constitute the applicable
                  consideration) of (x) the total amount received or receivable
                  by the Company as consideration for the issue or sale of such
                  Convertible Securities, plus (y) the aggregate amount of
                  additional consideration, if any, payable to the Company upon
                  the conversion or exchange thereof, by (ii) the total number
                  of shares of Common Stock issuable upon the conversion or
                  exchange of all such Convertible Securities) shall be less
                  than the Warrant Price in effect immediately prior to the time
                  of such issue or sale, then the total maximum number of shares
                  of Common Stock issuable upon conversion or exchange of all
                  such Convertible Securities shall be deemed to have been
                  issued for such price per share as of the date of the issue or
                  sale of such Convertible Securities and thereafter shall be
                  deemed to be outstanding for purposes of adjusting the Warrant
                  Price, provided that (a) except as otherwise provided in
                  subsection 8(f)(3), no adjustment of the Warrant Price shall
                  be made upon the actual issuance of such Common Stock upon
                  conversion or exchange of such Convertible Securities and (b)
                  no further adjustment of the Warrant Price shall be made by
                  reason of the issue or sale of Convertible Securities upon
                  exercise of any Options to purchase any such Convertible
                  Securities for which adjustments of the Warrant Price have
                  been made pursuant to the other provisions of subsection 8(f).

                           (f)(3) Change in Option Price or Conversion Rate.
                  Upon the happening of any of the following events, namely, if
                  the purchase price provided for in any Option referred to in
                  subsection 8(f)(l) hereof, the additional consideration, if
                  any, payable upon the conversion or exchange of any
                  Convertible Securities referred to in subsections 8(f)(l) or
                  8(f)(2), or the rate at which Convertible Securities referred
                  to in subsections 8(f)(l) or 8(f)(2) are convertible into or
                  exchangeable for Common Stock shall change at any time
                  (including, but not limited to, changes under or by reason of
                  provisions designed to protect against dilution), the Warrant
                  Price in effect at the time of such event shall forthwith be
                  readjusted to the Warrant Price which would have been in
                  effect at such time had such Options or Convertible Securities
                  still outstanding provided for such changed purchase price,
                  additional consideration or conversion rate, as the case may
                  be, at the time initially granted, issued or sold. On the
                  termination of any Option for which any adjustment was made
                  pursuant to this subsection 8(f) or any right to convert or
                  exchange Convertible Securities for which any adjustment was
                  made pursuant to this subsection 8(f) (including without
                  limitation upon the redemption or purchase for consideration
                  of such Convertible Securities by the Company), the Warrant
                  Price then in effect hereunder shall forthwith be changed to
                  the Warrant Price which would have been in effect at the time
                  of such termination had such Option or Convertible Securities,
                  to the extent outstanding immediately prior to such
                  termination, never been issued.

                                       7
<PAGE>

                           (f)(4) Stock Dividends. Subject to the provisions of
                  this Section 8(f), in case the Company shall declare a
                  dividend or make any other distribution upon any stock of the
                  Company (other than the Common Stock) payable in Common Stock,
                  Options or Convertible Securities, then any Common Stock,
                  Options or Convertible Securities, as the case may be,
                  issuable in payment of such dividend or distribution shall be
                  deemed to have been issued or sold without consideration.

                           (f)(5) Consideration for Stock. In case any shares of
                  Common Stock, Options or Convertible Securities shall be
                  issued or sold for cash, the consideration received therefor
                  shall be deemed to be the net amount received by the Company
                  therefor, after deduction therefrom of any expenses incurred
                  or any underwriting commissions or concessions paid or allowed
                  by the Company in connection therewith. In case any shares of
                  Common Stock, Options or Convertible Securities shall be
                  issued or sold for a consideration other than cash, the amount
                  of the consideration other than cash received by the Company
                  shall be deemed to be the fair value of such consideration as
                  determined in good faith by the Board of Directors of the
                  Company, after deduction of any expenses incurred or any
                  underwriting commissions or concessions paid or allowed by the
                  Company in connection therewith. In case any Options shall be
                  issued in connection with the issue and sale of other
                  securities of the Company, together comprising one integral
                  transaction in which no specific consideration is allocated to
                  such Options by the parties thereto, such Options shall be
                  deemed to have been issued for such consideration as
                  determined in good faith by the Board of Directors of the
                  Company. If Common Stock, Options or Convertible Securities
                  shall be issued or sold by the Company and, in connection
                  therewith, other Options or Convertible Securities (the
                  "Additional Rights") are issued, then the consideration
                  received or deemed to be received by the Company shall be
                  reduced by the fair market value of the Additional Rights (as
                  determined using the Black-Scholes option pricing model or
                  another method mutually agreed to by the Company and the
                  Warrantholder). The Board of Directors of the Company shall
                  respond promptly, in writing, to an inquiry by the
                  Warrantholder as to the fair market value of the Additional
                  Rights. In the event that the Board of Directors of the
                  Company and the Warrantholder are unable to agree upon the
                  fair market value of the Additional Rights, the Company and
                  the Warrantholder shall jointly select an appraiser, who is
                  experienced in such matters. The decision of such appraiser
                  shall be final and conclusive, and the cost of such appraiser
                  shall be borne evenly by the Company and the Warrantholder.

                           (f)(6) Record Date. In case the Company shall take a
                  record of the holders of its Common Stock for the purpose of
                  entitling them (i) to receive a dividend or other distribution
                  payable in Common Stock, Options or Convertible Securities or
                  (ii) to subscribe for or purchase Common Stock, Options or
                  Convertible Securities, then such record date shall be deemed

                                       8
<PAGE>

                  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.

                           (f)(7) Treasury Shares. The number of shares of
                  Common Stock outstanding at any given time shall not include
                  shares owned or held by or for the account of the Company or
                  any of its wholly-owned subsidiaries, and the disposition of
                  any such shares (other than the cancellation or retirement
                  thereof) shall be considered an issue or sale of Common Stock
                  for the purpose of this subsection (f).

                  (g) Anything herein to the contrary notwithstanding, the
Company shall not be required to make any adjustment of the Warrant Price in the
case of the issuance of (A) capital stock, Options or Convertible Securities
issued to directors, officers, employees or consultants of the Company in
connection with their service as directors of the Company, their employment by
the Company or their retention as consultants by the Company pursuant to an
equity compensation program approved by the Board of Directors of the Company or
the compensation committee of the Board of Directors of the Company, (B) shares
of Common Stock issued upon the conversion or exercise of Options or Convertible
Securities issued prior to the date hereof, (C) securities issued pursuant to
that certain Securities Purchase Agreement dated July __, 2004, among the
Company and the Investors named therein (the "Purchase Agreement") and
securities issued upon the exercise or conversion of those securities, and (D)
shares of Common Stock issued or issuable by reason of a dividend, stock split
or other distribution on shares of Common Stock (but only to the extent that
such a dividend, split or distribution results in an adjustment in the Warrant
Price pursuant to the other provisions of this Warrant) (collectively, "Excluded
Issuances").

                  (h) Upon any adjustment to the Warrant Price pursuant to
Section 8(f) above, the number of Warrant Shares purchasable hereunder shall be
adjusted by multiplying such number by a fraction, the numerator of which shall
be the Warrant Price in effect immediately prior to such adjustment and the
denominator of which shall be the Warrant Price in effect immediately
thereafter.

         Section 9. FRACTIONAL INTEREST. The Company shall not be required to
issue fractions of Warrant Shares upon the exercise of this Warrant. If any
fractional share of Common Stock would, except for the provisions of the first
sentence of this Section 9, be deliverable upon such exercise, the Company, in
lieu of delivering such fractional share, shall pay to the exercising
Warrantholder an amount in cash equal to the Market Price of such fractional
share of Common Stock on the date of exercise.

         Section 10. BENEFITS. Nothing in this Warrant shall be construed to
give any person, firm or corporation (other than the Company and the
Warrantholder) any legal or equitable right, remedy or claim, it being agreed
that this Warrant shall be for the sole and exclusive benefit of the Company and
the Warrantholder.

                                       9
<PAGE>

         Section 11. NOTICES TO WARRANTHOLDER. Upon the happening of any event
requiring an adjustment of the Warrant Price, the Company shall promptly give
written notice thereof to the Warrantholder at the address appearing in the
records of the Company, stating the adjusted Warrant Price and the adjusted
number of Warrant Shares resulting from such event and setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based. Failure to give such notice to the Warrantholder or any
defect therein shall not affect the legality or validity of the subject
adjustment.

         Section 12. IDENTITY OF TRANSFER AGENT. The Transfer Agent for the
Common Stock is Nevada Agency & Trust Co. Upon the appointment of any subsequent
transfer agent for the Common Stock or other shares of the Company's capital
stock issuable upon the exercise of the rights of purchase represented by the
Warrant, the Company will mail to the Warrantholder a statement setting forth
the name and address of such transfer agent.

         Section 13. NOTICES. Unless otherwise provided, any notice required or
permitted under this Warrant shall be given in writing and shall be deemed
effectively given as hereinafter described (i) if given by personal delivery,
then such notice shall be deemed given upon such delivery, (ii) if given by
telex or facsimile, then such notice shall be deemed given upon receipt of
confirmation of complete transmittal, (iii) if given by mail, then such notice
shall be deemed given upon the earlier of (A) receipt of such notice by the
recipient or (B) three days after such notice is deposited in first class mail,
postage prepaid, and (iv) if given by an internationally recognized overnight
air courier, then such notice shall be deemed given one business day after
delivery to such carrier. All notices shall be addressed as follows: if to the
Warrantholder, at its address as set forth in the Company's books and records
and, if to the Company, at the address as follows, or at such other address as
the Warrantholder or the Company may designate by ten days' advance written
notice to the other:

                           If to the Company:

                                    VisiJet, Inc.
                                    192 Technology Drive, Suite Q
                                    Irvine, California 92618
                                    Attention: Larry Schreiber
                                    Fax: 949.453.9652

         Section 14. REGISTRATION RIGHTS. The initial Warrantholder is entitled
to the benefit of certain registration rights with respect to the shares of
Common Stock issuable upon the exercise of this Warrant as provided in the
Registration Rights Agreement, and any subsequent Warrantholder may be entitled
to such rights.

         Section 15. SUCCESSORS. All the covenants and provisions hereof by or
for the benefit of the Warrantholder shall bind and inure to the benefit of its
respective successors and assigns hereunder.

                                       10
<PAGE>

         Section 16. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY
TRIAL. This Warrant shall be governed by, and construed in accordance with, the
internal laws of the State of New York, without reference to the choice of law
provisions thereof. The Company and, by accepting this Warrant, the
Warrantholder, each 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 Warrant
and the transactions contemplated hereby. Service of process in connection with
any such suit, action or proceeding may be served on each party hereto anywhere
in the world by the same methods as are specified for the giving of notices
under this Warrant. The Company and, by accepting this Warrant, the
Warrantholder, each 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.
The Company and, by accepting this Warrant, the Warrantholder, each 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. EACH OF THE COMPANY AND, BY ITS ACCEPTANCE HEREOF, THE
WARRANTHOLDER HEREBY WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY
LITIGATION WITH RESPECT TO THIS WARRANT AND REPRESENTS THAT COUNSEL HAS BEEN
CONSULTED SPECIFICALLY AS TO THIS WAIVER.

         Section 17. CASHLESS EXERCISE. Notwithstanding any other provision
contained herein to the contrary, the Warrantholder may elect to receive,
without the payment by the Warrantholder of the aggregate Warrant Price in
respect of the shares of Common Stock to be acquired, shares of Common Stock
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, at the
office of the Company. Thereupon, the Company shall issue to the Warrantholder
such number of fully paid, validly issued and nonassessable shares of Common
Stock as is computed using the following formula:

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

where

                           X = the number of shares of Common Stock which the
Warrantholder has then requested be issued to the Warrantholder;

                           Y = the total number of shares of Common Stock
covered by this Warrant which the Warrantholder has surrendered at such time for
cash-less exercise (including both shares to be issued to the Warrantholder and
shares to be canceled as payment therefor);

                           A = the "Market Price" of one share of Common Stock
as at the time the net issue election is made; and

                                       11
<PAGE>

                           B = the Warrant Price in effect under this Warrant at
the time the net issue election is made.

         Section 18. NO RIGHTS AS STOCKHOLDER. Prior to the exercise of this
Warrant, the Warrantholder shall not have or exercise any rights as a
stockholder of the Company by virtue of its ownership of this Warrant.

         Section 19. AMENDMENT; WAIVER. Any term of this Warrant may be amended
or waived (including the adjustment provisions included in Section 8 of this
Warrant) only upon the written consent of the Company and the Warrantholder.

         Section 20. SECTION HEADINGS. The section headings in this Warrant are
for the convenience of the Company and the Warrantholder and in no way alter,
modify, amend, limit or restrict the provisions hereof.

                                       12
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed, as of the 6th day of October, 2004.

                                              VISIJET, INC.

                                              By:  /S/ RANDAL A. BAILEY
                                                   ---------------------------
                                                   Name: Randal A. Bailey
                                                   Title:  President

                                       13
<PAGE>

                                   APPENDIX A
                                  VISIJET, INC.
                              WARRANT EXERCISE FORM

To VisiJet, Inc.:

         The undersigned hereby irrevocably elects to exercise the right of
purchase represented by the within Warrant ("Warrant") for, and to purchase
thereunder by the payment of the Warrant Price and surrender of the Warrant,
_______________ shares of Common Stock ("Warrant Shares") provided for therein,
and requests that certificates for the Warrant Shares be issued as follows:

                           -------------------------------
                           Name
                           --------------------------------
                           Address
                           ================================
                           Federal Tax ID or Social Security No.

         and delivered by  (certified mail to the above address, or
                           (electronically (provide DWAC Instructions:_____), or
                           (other (specify): _________________________________).

and, if the number of Warrant Shares shall not be all the Warrant Shares
purchasable upon exercise of the Warrant, that a new Warrant for the balance of
the Warrant Shares purchasable upon exercise of this Warrant be registered in
the name of the undersigned Warrantholder or the undersigned's Assignee as below
indicated and delivered to the address stated below.

Dated: ___________________, ____

Note:  The signature must correspond with            Signature:_________________
the name of the Warrantholder as written
on the first page of the Warrant in every            ___________________________
particular, without alteration or enlargement        Name (please print)
or any change whatever, unless the Warrant
has been assigned.                                   ___________________________
                                                     ___________________________
                                                     Address
                                                     ___________________________
                                                     Federal Identification or
                                                     Social Security No.

                                                     Assignee:
                                                     ___________________________
                                                     ___________________________

                                       14
<PAGE>

                                   APPENDIX B
                                  VISIJET, INC.
                            NET ISSUE ELECTION NOTICE

To: VisiJet, Inc.

Date:_________________________

         The undersigned hereby elects under SECTION 17 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

                                       15

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