Document:

INTELLECTUAL PROPERTY SECURITY AGREEMENT

      INTELLECTUAL PROPERTY SECURITY AGREEMENT (this "Agreement" dated as of
February 6, 2006, by and among Stronghold Technologies, Inc., a Nevada
corporation (the "Company"), and the secured parties signatory hereto and their
respective endorsees, transferees and assigns (collectively, the "Secured
Party").

                              W I T N E S S E T H :

      WHEREAS, pursuant to a Securities Purchase Agreement, dated the date
hereof, between Company and the Secured Party (the "Purchase Agreement"),
Company has agreed to issue to the Secured Party and the Secured Party has
agreed to purchase from Company certain of Company's 12% Callable Secured
Convertible Notes, due two years from the date of issue (the "Notes"), which are
convertible into shares of Company's Common Stock, par value $.0001 per share
(the "Common Stock"). In connection therewith, Company shall issue the Secured
Party certain Common Stock purchase warrants (the "Warrants"); and

      WHEREAS, in order to induce the Secured Party to purchase the Notes,
Company has agreed to execute and deliver to the Secured Party this Agreement
for the benefit of the Secured Party and to grant to it a security interest in
certain Intellectual Property (defined below) of Company to secure the prompt
payment, performance and discharge in full of all of Company's obligations under
the Notes and exercise and discharge in full of Company's obligations under the
Warrants; and

      NOW, THEREFORE, in consideration of the agreements herein contained and
for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereto hereby agree as follows:

      1. Defined Terms. Unless otherwise defined herein, terms which are defined
in the Purchase Agreement and used herein are so used as so defined; and the
following terms shall have the following meanings:

            "Software Intellectual Property" shall mean:

            (a) all software programs (including all source code, object code
and all related applications and data files), whether now owned, upgraded,
enhanced, licensed or leased or hereafter acquired by the Company, above;

            (b) all computers and electronic data processing hardware and
firmware associated therewith;

            (c) all documentation (including flow charts, logic diagrams,
manuals, guides and specifications) with respect to such software, hardware and
firmware described in the preceding clauses (a) and (b); and

            (d) all rights with respect to all of the foregoing, including,
without limitation, any and all upgrades, modifications, copyrights, licenses,
options, warranties, service contracts, program services, test rights,
maintenance rights, support rights, improvement rights, renewal rights and
indemnifications and substitutions, replacements, additions, or model
conversions of any of the foregoing.

<PAGE>

            "Copyrights" shall mean (a) all copyrights, registrations and
applications for registration, issued or filed, including any reissues,
extensions or renewals thereof, by or with the United States Copyright Office or
any similar office or agency of the United States, any state thereof, or any
other country or political subdivision thereof, or otherwise, including, all
rights in and to the material constituting the subject matter thereof,
including, without limitation, any referred to in Schedule B hereto, and (b) any
rights in any material which is copyrightable or which is protected by common
law, United States copyright laws or similar laws or any law of any State,
including, without limitation, any thereof referred to in Schedule B hereto.

            "Copyright License" shall mean any agreement, written or oral,
providing for a grant by the Company of any right in any Copyright, including,
without limitation, any thereof referred to in Schedule B hereto.

            "Intellectual Property" shall means, collectively, the Software
Intellectual Property, Copyrights, Copyright Licenses, Patents, Patent Licenses,
Trademarks, Trademark Licenses and Trade Secrets.

            "Obligations" means all of the Company's obligations under this
Agreement and the Notes, in each case, whether now or hereafter existing,
voluntary or involuntary, direct or indirect, absolute or contingent, liquidated
or unliquidated, whether or not jointly owed with others, and whether or not
from time to time decreased or extinguished and later decreased, created or
incurred, and all or any portion of such obligations or liabilities that are
paid, to the extent all or any part of such payment is avoided or recovered
directly or indirectly from the Secured Party as a preference, fraudulent
transfer or otherwise as such obligations may be amended, supplemented,
converted, extended or modified from time to time.

            "Patents" shall mean (a) all letters patent of the United States or
any other country or any political subdivision thereof, and all reissues and
extensions thereof, including, without limitation, any thereof referred to in
Schedule B hereto, and (b) all applications for letters patent of the United
States and all divisions, continuations and continuations-in-part thereof or any
other country or any political subdivision, including, without limitation, any
thereof referred to in Schedule B hereto.

            "Patent License" shall mean all agreements, whether written or oral,
providing for the grant by the Company of any right to manufacture, use or sell
any invention covered by a Patent, including, without limitation, any thereof
referred to in Schedule B hereto.

            "Security Agreement" shall mean the a Security Agreement, dated the
date hereof between Company and the Secured Party.

            "Trademarks" shall mean (a) all trademarks, trade names, corporate
names, company names, business names, fictitious business names, trade styles,
service marks, logos and other source or business identifiers, and the goodwill
associated therewith, now existing or hereafter adopted or acquired, all
registrations and recordings thereof, and all applications in connection
therewith, whether in the United States Patent and Trademark Office or in any
similar office or agency of the United States, any state thereof or any other
country or any political subdivision thereof, or otherwise, including, without
limitation, any thereof referred to in Schedule B hereto, and (b) all reissues,
extensions or renewals thereof.

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<PAGE>

            "Trademark License" shall mean any agreement, written or oral,
providing for the grant by the Company of any right to use any Trademark,
including, without limitation, any thereof referred to in Schedule B hereto.

            "Trade Secrets" shall mean common law and statutory trade secrets
and all other confidential or proprietary or useful information and all know-how
obtained by or used in or contemplated at any time for use in the business of
the Company (all of the foregoing being collectively called a "Trade Secret"),
whether or not such Trade Secret has been reduced to a writing or other tangible
form, including all documents and things embodying, incorporating or referring
in any way to such Trade Secret, all Trade Secret licenses, including each Trade
Secret license referred to in Schedule B hereto, and including the right to sue
for and to enjoin and to collect damages for the actual or threatened
misappropriation of any Trade Secret and for the breach or enforcement of any
such Trade Secret license.

      2. Grant of Security Interest. In accordance with Section 3(m) of the
Security Agreement, to secure the complete and timely payment, performance and
discharge in full, as the case may be, of all of the Obligations, the Company
hereby, unconditionally and irrevocably, pledges, grants and hypothecates to the
Secured Party, a continuing security interest in, a continuing lien upon, an
unqualified right to possession and disposition of and a right of set-off
against, in each case to the fullest extent permitted by law, all of the
Company's right, title and interest of whatsoever kind and nature in and to the
Intellectual Property (the "Security Interest"). In the event that the security
interest referred to on Schedule D is released, the Company shall at all times
maintain the Security Interest as a valid and perfected first priority security
interest in the Collateral in accordance with the terms and conditions of this
Agreement.

      3. Representations and Warranties. The Company hereby represents and
warrants, and covenants and agrees with, the Secured Party as follows:

            (a) The Company has the requisite corporate power and authority to
enter into this Agreement and otherwise to carry out its obligations thereunder.
The execution, delivery and performance by the Company of this Agreement and the
filings contemplated therein have been duly authorized by all necessary action
on the part of the Company and no further action is required by the Company.
This Agreement constitutes a legal, valid and binding obligation of the Company
enforceable in accordance with its terms, except as enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting the enforcement of creditor's rights generally.

            (b) The Company represents and warrants that it has no place of
business or offices where its respective books of account and records are kept
(other than temporarily at the offices of its attorneys or accountants) or
places where the Intellectual Property is stored or located, except as set forth
on Schedule A attached hereto;

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<PAGE>

            (c) Except as set forth in Schedule D, the Company is the sole owner
of the Intellectual Property (except for non-exclusive licenses granted by the
Company in the ordinary course of business), free and clear of any liens,
security interests, encumbrances, rights or claims, and is fully authorized to
grant the Security Interest in and to pledge the Intellectual Property. Except
as set forth on Schedule D, there is not on file in any governmental or
regulatory authority, agency or recording office an effective financing
statement, security agreement, license or transfer or any notice of any of the
foregoing (other than those that have been filed in favor of the Secured Party
pursuant to this Agreement) covering or affecting any of the Intellectual
Property. So long as this Agreement shall be in effect, the Company shall not
execute and shall not knowingly permit to be on file in any such office or
agency any such financing statement or other document or instrument (except to
the extent filed or recorded in favor of the Secured Party pursuant to the terms
of this Agreement), except for a financing statement covering assets acquired by
the Company after the date hereof, provided that the value of the Intellectual
Property covered by this Agreement along with the Collateral (as defined in the
Security Agreement) is equal to at least 150% of the Obligations.

            (d) The Company shall at all times maintain its books of account and
records relating to the Intellectual Property at its principal place of business
and its Intellectual Property at the locations set forth on Schedule A attached
hereto and may not relocate such books of account and records unless it delivers
to the Secured Party at least thirty (30) days prior to such relocation (i)
written notice of such relocation and the new location thereof (which must be
within the United States) and (ii) evidence that the necessary documents have
been filed and recorded and other steps have been taken to perfect the Security
Interest to create in favor of the Secured Party valid, perfected and continuing
liens in the Intellectual Property to the extent they can be perfected through
such filings.

            (e) This Agreement creates in favor of the Secured Party a valid
security interest in the Intellectual Property securing the payment and
performance of the Obligations and, upon making the filings required hereunder,
a perfected security interest in such Intellectual Property to the extent that
it can be perfected through such filings.

            (f) Upon request of the Secured Party, the Company shall execute and
deliver any and all agreements, instruments, documents, and papers as the
Secured Party may request to evidence the Secured Party's security interest in
the Intellectual Property and the goodwill and general intangibles of the
Company relating thereto or represented thereby, and the Company hereby appoints
the Secured Party its attorney-in-fact to execute and file all such writings for
the foregoing purposes, all acts of such attorney being hereby ratified and
confirmed; such power being coupled with an interest is irrevocable until the
Obligations have been fully satisfied and are paid in full.

                                      C-4
<PAGE>

            (g) The execution, delivery and performance of this Agreement does
not conflict with or cause a breach or default, or an event that with or without
the passage of time or notice, shall constitute a breach or default, under any
agreement to which the Company is a party or by which the Company is bound. No
consent (including, without limitation, from stock holders or creditors of the
Company) is required for the Company to enter into and perform its obligations
hereunder.

            (h) The Company shall at all times maintain the liens and Security
Interest provided for hereunder as valid and perfected liens and security
interests in the Intellectual Property to the extent they can be perfected by
filing in favor of the Secured Party until this Agreement and the Security
Interest hereunder shall terminate pursuant to Section 11. The Company hereby
agrees to defend the same against any and all persons. The Company shall
safeguard and protect all Intellectual Property for the account of the Secured
Party. Without limiting the generality of the foregoing, the Company shall pay
all fees, taxes and other amounts necessary to maintain the Intellectual
Property and the Security Interest hereunder, and the Company shall obtain and
furnish to the Secured Party from time to time, upon demand, such releases
and/or subordinations of claims and liens which may be required to maintain the
priority of the Security Interest hereunder.

            (i) The Company will not transfer, pledge, hypothecate, encumber,
license (except for non-exclusive licenses granted by the Company in the
ordinary course of business), sell or otherwise dispose of any of the
Intellectual Property without the prior written consent of the Secured Party.

            (j) The Company shall, within ten (10) days of obtaining knowledge
thereof, advise the Secured Party promptly, in sufficient detail, of any
substantial change in the Intellectual Property, and of the occurrence of any
event which would have a material adverse effect on the value of the
Intellectual Property or on the Secured Party's security interest therein.

            (k) The Company shall permit the Secured Party and its
representatives and agents to inspect the Intellectual Property at any time, and
to make copies of records pertaining to the Intellectual Property as may be
requested by the Secured Party from time to time.

            (l) The Company will take all steps reasonably necessary to
diligently pursue and seek to preserve, enforce and collect any rights, claims,
causes of action and accounts receivable in respect of the Intellectual
Property.

            (m) The Company shall promptly notify the Secured Party in
sufficient detail upon becoming aware of any attachment, garnishment, execution
or other legal process levied against any Intellectual Property and of any other
information received by the Company that may materially affect the value of the
Intellectual Property, the Security Interest or the rights and remedies of the
Secured Party hereunder.

            (n) All information heretofore, herein or hereafter supplied to the
Secured Party by or on behalf of the Company with respect to the Intellectual
Property is accurate and complete in all material respects as of the date
furnished.

                                      C-5
<PAGE>

            (o) Schedule A attached hereto contains a list of all of the
subsidiaries of Company.

            (p) Schedule B attached hereto includes all Licenses, and all
Patents and Patent Licenses, if any, owned by the Company in its own name as of
the date hereof. Schedule B hereto includes all Trademarks and Trademark
Licenses, if any, owned by the Company in its own name as of the date hereof.
Schedule B hereto includes all Copyrights and Copyright Licenses, if any, owned
by the Company in its own name as of the date hereof. Schedule B hereto includes
all Trade Secrets and Trade Secret Licenses, if any, owned by the Company as of
the date hereof. To the best of the Company's knowledge, each License, Patent,
Trademark, Copyright and Trade Secret is valid, subsisting, unexpired,
enforceable and has not been abandoned. Except as set forth in Schedule B, none
of such Licenses, Patents, Trademarks, Copyrights and Trade Secrets is the
subject of any licensing or franchise agreement. To the best of the Company's
knowledge, no holding, decision or judgment has been rendered by any
Governmental Body which would limit, cancel or question the validity of any
License, Patent, Trademark, Copyright and Trade Secrets. No action or proceeding
is pending (i) seeking to limit, cancel or question the validity of any License,
Patent, Trademark, Copyright or Trade Secret, or (ii) which, if adversely
determined, would have a material adverse effect on the value of any License,
Patent, Trademark, Copyright or Trade Secret. The Company has used and will
continue to use for the duration of this Agreement, proper statutory notice in
connection with its use of the Patents, Trademarks and Copyrights and consistent
standards of quality in products leased or sold under the Patents, Trademarks
and Copyrights.

            (q) With respect to any Intellectual Property:

                  (i) such Intellectual Property is subsisting and has not been
adjudged invalid or unenforceable, in whole or in part;

                  (ii) such Intellectual Property is valid and enforceable;

                  (iii) the Company has made all necessary filings and
recordations to protect its interest in such Intellectual Property, including,
without limitation, recordations of all of its interests in the Patents, Patent
Licenses, Trademarks and Trademark Licenses in the United States Patent and
Trademark Office and in corresponding offices throughout the world and its
claims to the Copyrights and Copyright Licenses in the United States Copyright
Office and in corresponding offices throughout the world;

                  (iv) other than as set forth in Schedule B, the Company is the
exclusive owner of the entire and unencumbered right, title and interest in and
to such Intellectual Property and no claim has been made that the use of such
Intellectual Property infringes on the asserted rights of any third party; and

                                      C-6
<PAGE>

                  (v) the Company has performed and will continue to perform all
acts and has paid all required fees and taxes to maintain each and every item of
Intellectual Property in full force and effect throughout the world, as
applicable.

            (r) Except with respect to any Trademark or Copyright that the
Company shall reasonably determine is of negligible economic value to the
Company, the Company shall:

                  (i) maintain each Trademark and Copyright in full force free
from any claim of abandonment for non-use, maintain as in the past the quality
of products and services offered under such Trademark or Copyright; employ such
Trademark or Copyright with the appropriate notice of registration; not adopt or
use any mark which is confusingly similar or a colorable imitation of such
Trademark or Copyright unless the Secured Party shall obtain a perfected
security interest in such mark pursuant to this Agreement; and not (and not
permit any licensee or sublicensee thereof to) do any act or knowingly omit to
do any act whereby any Trademark or Copyright may become invalidated;

                  (ii) not, except with respect to any Patent that it shall
reasonably determine is of negligible economic value to it, do any act, or omit
to do any act, whereby any Patent may become abandoned or dedicated; and

                  (iii) notify the Secured Party immediately if it knows, or has
reason to know, that any application or registration relating to any Patent,
Trademark or Copyright may become abandoned or dedicated, or of any adverse
determination or development (including, without limitation, the institution of,
or any such determination or development in, any proceeding in the United States
Patent and Trademark Office, United States Copyright Office or any court or
tribunal in any country) regarding its ownership of any Patent, Trademark or
Copyright or its right to register the same or to keep and maintain the same.

            (s) Whenever the Company, either by itself or through any agent,
employee, licensee or designee, shall file an application for the registration
of any Patent, Trademark or Copyright with the United States Patent and
Trademark Office, United States Copyright Office or any similar office or agency
in any other country or any political subdivision thereof or acquire rights to
any new Patent, Trademark or Copyright whether or not registered, report such
filing to the Secured Party within five (5) business days after the last day of
the fiscal quarter in which such filing occurs.

            (t) The Company shall take all reasonable and necessary steps,
including, without limitation, in any proceeding before the United States Patent
and Trademark Office, United States Copyright Office or any similar office or
agency in any other country or any political subdivision thereof, to maintain
and pursue each application (and to obtain the relevant registration) and to
maintain each registration of the Patents, Trademarks and Copyrights, including,
without limitation, filing of applications for renewal, affidavits of use and
affidavits of incontestability.

                                      C-7
<PAGE>

            (u) In the event that any Patent, Trademark or Copyright included in
the Intellectual Property is infringed, misappropriated or diluted by a third
party, promptly notify the Secured Party after it learns thereof and shall,
unless it shall reasonably determine that such Patent, Trademark or Copyright is
of negligible economic value to it, which determination it shall promptly report
to the Secured Party, promptly sue for infringement, misappropriation or
dilution, to seek injunctive relief where appropriate and to recover any and all
damages for such infringement, misappropriation or dilution, or take such other
actions as it shall reasonably deem appropriate under the circumstances to
protect such Patent, Trademark or Copyright. If the Company lacks the financial
resources to comply with this Section 3(t), the Company shall so notify the
Secured Party and shall cooperate fully with any enforcement action undertaken
by the Secured Party on behalf of the Company.

      4. Defaults. The following events shall be "Events of Default":

            (a) The occurrence of an Event of Default (as defined in the Notes)
under the Notes;

            (b) Any representation or warranty of the Company in this Agreement
or in the Security Agreement shall prove to have been incorrect in any material
respect when made;

            (c) The failure by the Company to observe or perform any of its
obligations hereunder or in the Security Agreement for ten (10) days after
receipt by the Company of notice of such failure from the Secured Party; and

            (d) Any breach of, or default under, the Warrants.

      5. Duty To Hold In Trust. Upon the occurrence of any Event of Default and
at any time thereafter, the Company shall, upon receipt by it of any revenue,
income or other sums subject to the Security Interest, whether payable pursuant
to the Notes or otherwise, or of any check, draft, note, trade acceptance or
other instrument evidencing an obligation to pay any such sum, hold the same in
trust for the Secured Party and shall forthwith endorse and transfer any such
sums or instruments, or both, to the Secured Party for application to the
satisfaction of the Obligations.

      6. Rights and Remedies Upon Default. Upon occurrence of any Event of
Default and at any time thereafter, the Secured Party shall have the right to
exercise all of the remedies conferred hereunder and under the Notes, and the
Secured Party shall have all the rights and remedies of a secured party under
the UCC and/or any other applicable law (including the Uniform Commercial Code
of any jurisdiction in which any Intellectual Property is then located). Without
limitation, the Secured Party shall have the following rights and powers:

                                      C-8
<PAGE>

            (a) The Secured Party shall have the right to take possession of the
Intellectual Property and, for that purpose, enter, with the aid and assistance
of any person, any premises where the Intellectual Property, or any part
thereof, is or may be placed and remove the same, and the Company shall assemble
the Intellectual Property and make it available to the Secured Party at places
which the Secured Party shall reasonably select, whether at the Company's
premises or elsewhere, and make available to the Secured Party, without rent,
all of the Company's respective premises and facilities for the purpose of the
Secured Party taking possession of, removing or putting the Intellectual
Property in saleable or disposable form.

            (b) The Secured Party shall have the right to operate the business
of the Company using the Intellectual Property and shall have the right to
assign, sell, lease or otherwise dispose of and deliver all or any part of the
Intellectual Property, at public or private sale or otherwise, either with or
without special conditions or stipulations, for cash or on credit or for future
delivery, in such parcel or parcels and at such time or times and at such place
or places, and upon such terms and conditions as the Secured Party may deem
commercially reasonable, all without (except as shall be required by applicable
statute and cannot be waived) advertisement or demand upon or notice to the
Company or right of redemption of the Company, which are hereby expressly
waived. Upon each such sale, lease, assignment or other transfer of Intellectual
Property, the Secured Party may, unless prohibited by applicable law which
cannot be waived, purchase all or any part of the Intellectual Property being
sold, free from and discharged of all trusts, claims, right of redemption and
equities of the Company, which are hereby waived and released.

      7. Applications of Proceeds. The proceeds of any such sale, lease or other
disposition of the Intellectual Property hereunder shall be applied first, to
the expenses of retaking, holding, storing, processing and preparing for sale,
selling, and the like (including, without limitation, any taxes, fees and other
costs incurred in connection therewith) of the Intellectual Property, to the
reasonable attorneys' fees and expenses incurred by the Secured Party in
enforcing its rights hereunder and in connection with collecting, storing and
disposing of the Intellectual Property, and then to satisfaction of the
Obligations, and to the payment of any other amounts required by applicable law,
after which the Secured Party shall pay to the Company any surplus proceeds. If,
upon the sale, license or other disposition of the Intellectual Property, the
proceeds thereof are insufficient to pay all amounts to which the Secured Party
is legally entitled, the Company will be liable for the deficiency, together
with interest thereon, at the rate of 15% per annum (the "Default Rate"), and
the reasonable fees of any attorneys employed by the Secured Party to collect
such deficiency. To the extent permitted by applicable law, the Company waives
all claims, damages and demands against the Secured Party arising out of the
repossession, removal, retention or sale of the Intellectual Property, unless
due to the gross negligence or willful misconduct of the Secured Party.

                                      C-9
<PAGE>

      8. Costs and Expenses. The Company agrees to pay all out-of-pocket fees,
costs and expenses incurred in connection with any filing required hereunder,
including without limitation, any financing statements, continuation statements,
partial releases and/or termination statements related thereto or any expenses
of any searches reasonably required by the Secured Party. The Company shall also
pay all other claims and charges which in the reasonable opinion of the Secured
Party might prejudice, imperil or otherwise affect the Intellectual Property or
the Security Interest therein. The Company will also, upon demand, pay to the
Secured Party the amount of any and all reasonable expenses, including the
reasonable fees and expenses of its counsel and of any experts and agents, which
the Secured Party may incur in connection with (i) the enforcement of this
Agreement, (ii) the custody or preservation of, or the sale of, collection from,
or other realization upon, any of the Intellectual Property, or (iii) the
exercise or enforcement of any of the rights of the Secured Party under the
Notes. Until so paid, any fees payable hereunder shall be added to the principal
amount of the Notes and shall bear interest at the Default Rate.

      9. Responsibility for Intellectual Property. The Company assumes all
liabilities and responsibility in connection with all Intellectual Property, and
the obligations of the Company hereunder or under the Notes and the Warrants
shall in no way be affected or diminished by reason of the loss, destruction,
damage or theft of any of the Intellectual Property or its unavailability for
any reason.

      10. Security Interest Absolute. All rights of the Secured Party and all
Obligations of the Company hereunder, shall be absolute and unconditional,
irrespective of: (a) any lack of validity or enforceability of this Agreement,
the Notes, the Warrants or any agreement entered into in connection with the
foregoing, or any portion hereof or thereof; (b) any change in the time, manner
or place of payment or performance of, or in any other term of, all or any of
the Obligations, or any other amendment or waiver of or any consent to any
departure from the Notes, the Warrants or any other agreement entered into in
connection with the foregoing; (c) any exchange, release or nonperfection of any
of the Intellectual Property, or any release or amendment or waiver of or
consent to departure from any other Intellectual Property for, or any guaranty,
or any other security, for all or any of the Obligations; (d) any action by the
Secured Party to obtain, adjust, settle and cancel in its sole discretion any
insurance claims or matters made or arising in connection with the Intellectual
Property; or (e) any other circumstance which might otherwise constitute any
legal or equitable defense available to the Company, or a discharge of all or
any part of the Security Interest granted hereby. Until the Obligations shall
have been paid and performed in full, the rights of the Secured Party shall
continue even if the Obligations are barred for any reason, including, without
limitation, the running of the statute of limitations or bankruptcy. The Company
expressly waives presentment, protest, notice of protest, demand, notice of
nonpayment and demand for performance. In the event that at any time any
transfer of any Intellectual Property or any payment received by the Secured
Party hereunder shall be deemed by final order of a court of competent
jurisdiction to have been a voidable preference or fraudulent conveyance under
the bankruptcy or insolvency laws of the United States, or shall be deemed to be
otherwise due to any party other than the Secured Party, then, in any such
event, the Company's obligations hereunder shall survive cancellation of this
Agreement, and shall not be discharged or satisfied by any prior payment thereof
and/or cancellation of this Agreement, but shall remain a valid and binding
obligation enforceable in accordance with the terms and provisions hereof. The
Company waives all right to require the Secured Party to proceed against any
other person or to apply any Intellectual Property which the Secured Party may
hold at any time, or to marshal assets, or to pursue any other remedy. The
Company waives any defense arising by reason of the application of the statute
of limitations to any obligation secured hereby.

                                      C-10
<PAGE>

      11. Term of Agreement. This Agreement and the Security Interest shall
terminate on the date on which all payments under the Notes have been made in
full and all other Obligations have been paid or discharged. Upon such
termination, the Secured Party, at the request and at the expense of the
Company, will join in executing any termination statement with respect to any
financing statement executed and filed pursuant to this Agreement.

      12. Power of Attorney; Further Assurances.

            (a) The Company authorizes the Secured Party, and does hereby make,
constitute and appoint it, and its respective officers, agents, successors or
assigns with full power of substitution, as the Company's true and lawful
attorney-in-fact, with power, in its own name or in the name of the Company, to,
after the occurrence and during the continuance of an Event of Default, (i)
endorse any notes, checks, drafts, money orders, or other instruments of payment
(including payments payable under or in respect of any policy of insurance) in
respect of the Intellectual Property that may come into possession of the
Secured Party; (ii) to sign and endorse any UCC financing statement or any
invoice, freight or express bill, bill of lading, storage or warehouse receipts,
drafts against debtors, assignments, verifications and notices in connection
with accounts, and other documents relating to the Intellectual Property; (iii)
to pay or discharge taxes, liens, security interests or other encumbrances at
any time levied or placed on or threatened against the Intellectual Property;
(iv) to demand, collect, receipt for, compromise, settle and sue for monies due
in respect of the Intellectual Property; and (v) generally, to do, at the option
of the Secured Party, and at the Company's expense, at any time, or from time to
time, all acts and things which the Secured Party deems necessary to protect,
preserve and realize upon the Intellectual Property and the Security Interest
granted therein in order to effect the intent of this Agreement, the Notes and
the Warrants, all as fully and effectually as the Company might or could do; and
the Company hereby ratifies all that said attorney shall lawfully do or cause to
be done by virtue hereof. This power of attorney is coupled with an interest and
shall be irrevocable for the term of this Agreement and thereafter as long as
any of the Obligations shall be outstanding.

            (b) On a continuing basis, the Company will make, execute,
acknowledge, deliver, file and record, as the case may be, in the proper filing
and recording places in any jurisdiction, including, without limitation, the
jurisdictions indicated on Schedule C, attached hereto, all such instruments,
and take all such action as may reasonably be deemed necessary or advisable, or
as reasonably requested by the Secured Party, to perfect the Security Interest
granted hereunder and otherwise to carry out the intent and purposes of this
Agreement, or for assuring and confirming to the Secured Party the grant or
perfection of a security interest in all the Intellectual Property.

            (c) The Company hereby irrevocably appoints the Secured Party as the
Company's attorney-in-fact, with full authority in the place and stead of the
Company and in the name of the Company, from time to time in the Secured Party's
discretion, to take any action and to execute any instrument which the Secured
Party may deem necessary or advisable to accomplish the purposes of this
Agreement, including the filing, in its sole discretion, of one or more
financing or continuation statements and amendments thereto, relative to any of
the Intellectual Property without the signature of the Company where permitted
by law.

                                      C-11
<PAGE>

      13. Notices. All notices, requests, demands and other communications
hereunder shall be in writing, with copies to all the other parties hereto, and
shall be deemed to have been duly given when (i) if delivered by hand, upon
receipt, (ii) if sent by facsimile, upon receipt of proof of sending thereof,
(iii) if sent by nationally recognized overnight delivery service (receipt
requested), the next business day or (iv) if mailed by first-class registered or
certified mail, return receipt requested, postage prepaid, four days after
posting in the U.S. mails, in each case if delivered to the following addresses:

If to the Company:         Stronghold Technologies, Inc.
                           106 Allen Road
                           Basking Ridge, New Jersey 07920
                           Telephone: 908-903-1195
                           Facsimile: 908-903-1197
                           Attention: President and Chief Executive Officer

                                      C-12
<PAGE>

With copies to:            Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                           New York, NY 10018
                           Attention: Gregory Sichenzia, Esq.
                           Telephone: (212) 930-9700
                           Facsimile: (212) 930-9725

If to the Secured Party:   AJW Partners, LLC
                           AJW Offshore, Ltd.
                           AJW Qualified Partners, LLC
                           New Millennium Capital Partners II, LLC
                           1044 Northern Boulevard
                           Suite 302
                           Roslyn, New York 11576
                           Attention: Corey Ribotsky
                           Telephone: 516-739-7110
                           Facsimile: 516-739-7115

With copies to:            Ballard Spahr Andrews & Ingersoll, LLP
                           1735 Market Street, 51st Floor
                           Philadelphia, Pennsylvania  19103
                           Attention: Gerald J. Guarcini, Esquire
                           Telephone: 215-864-8625
                           Facsimile: 215-864-8999

      14. Other Security. To the extent that the Obligations are now or
hereafter secured by property other than the Intellectual Property or by the
guarantee, endorsement or property of any other person, firm, corporation or
other entity, then the Secured Party shall have the right, in its sole
discretion, to pursue, relinquish, subordinate, modify or take any other action
with respect thereto, without in any way modifying or affecting any of the
Secured Party's rights and remedies hereunder.

      15. Miscellaneous.

            (a) No course of dealing between the Company and the Secured Party,
nor any failure to exercise, nor any delay in exercising, on the part of the
Secured Party, any right, power or privilege hereunder or under the Notes shall
operate as a waiver thereof; nor shall any single or partial exercise of any
right, power or privilege hereunder or thereunder preclude any other or further
exercise thereof or the exercise of any other right, power or privilege.

            (b) All of the rights and remedies of the Secured Party with respect
to the Intellectual Property, whether established hereby or by the Notes or by
any other agreements, instruments or documents or by law shall be cumulative and
may be exercised singly or concurrently.

                                      C-13
<PAGE>

            (c) This Agreement and the Security Agreement constitute the entire
agreement of the parties with respect to the subject matter hereof and is
intended to supersede all prior negotiations, understandings and agreements with
respect thereto. Except as specifically set forth in this Agreement, no
provision of this Agreement may be modified or amended except by a written
agreement specifically referring to this Agreement and signed by the parties
hereto.

            (d) In the event that any provision of this Agreement is held to be
invalid, prohibited or unenforceable in any jurisdiction for any reason, unless
such provision is narrowed by judicial construction, this Agreement shall, as to
such jurisdiction, be construed as if such invalid, prohibited or unenforceable
provision had been more narrowly drawn so as not to be invalid, prohibited or
unenforceable. If, notwithstanding the foregoing, any provision of this
Agreement is held to be invalid, prohibited or unenforceable in any
jurisdiction, such provision, as to such jurisdiction, shall be ineffective to
the extent of such invalidity, prohibition or unenforceability without
invalidating the remaining portion of such provision or the other provisions of
this Agreement and without affecting the validity or enforceability of such
provision or the other provisions of this Agreement in any other jurisdiction.

            (e) No waiver of any breach or default or any right under this
Agreement shall be considered valid unless in writing and signed by the party
giving such waiver, and no such waiver shall be deemed a waiver of any
subsequent breach or default or right, whether of the same or similar nature or
otherwise.

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

            (g) Each party shall take such further action and execute and
deliver such further documents as may be necessary or appropriate in order to
carry out the provisions and purposes of this Agreement.

            (h) This Agreement shall be construed in accordance with the laws of
the State of New York, except to the extent the validity, perfection or
enforcement of a security interest hereunder in respect of any particular
Intellectual Property which are governed by a jurisdiction other than the State
of New York in which case such law shall govern. Each of the parties hereto
irrevocably submit to the exclusive jurisdiction of any New York State or United
States Federal court sitting in Manhattan county over any action or proceeding
arising out of or relating to this Agreement, and the parties hereto hereby
irrevocably agree that all claims in respect of such action or proceeding may be
heard and determined in such New York State or Federal court. The parties hereto
agree that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. The parties hereto further waive any objection to
venue in the State of New York and any objection to an action or proceeding in
the State of New York on the basis of forum non conveniens.

                                      C-14
<PAGE>

            (i) EACH PARTY HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS
TO A JURY TRAIL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF
THIS AGREEMENT. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF
ANY DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATER
OF THIS AGREEMENT, INCLUDING WITHOUT LIMITATION CONTRACT CLAIMS, TORT CLAIMS,
BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY
HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT FOR EACH PARTY TO
ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH PARTY HAS ALREADY RELIED ON THIS
WAIVER IN ENTERING INTO THIS AGREEMENT AND THAT EACH PARTY WILL CONTINUE TO RELY
ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH PARTY FURTHER WARRANTS AND
REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT
SUCH PARTY HAS KNOWINGLY AND VOLUNTARILY WAIVES ITS RIGHTS TO A JURY TRIAL
FOLLOWING SUCH CONSULTATION. THIS WAIVER IS IRREVOCABLE, MEANING THAT,
NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, IT MAY NOT BE MODIFIED EITHER
ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS AND SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT. IN THE EVENT OF A
LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE
COURT.

            (j) This Agreement may be executed in any number of counterparts,
each of which when so executed shall be deemed to be an original and, all of
which taken together shall constitute one and the same Agreement. In the event
that any signature is delivered by facsimile transmission, such signature shall
create a valid binding obligation of the party executing (or on whose behalf
such signature is executed) the same with the same force and effect as if such
facsimile signature were the original thereof.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      C-15
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed on the day and year first above written.

                                    STRONGHOLD TECHNOLOGIES, INC.

                                    By: /s/Christopher J. Carey
                                        -----------------------
                                        Christopher J. Carey
                                        President and Chief Executive Officer

                                    AJW PARTNERS, LLC
                                    By:  SMS Group, LLC

                                    By: /s/Corey S. Ribotsky
                                        --------------------
                                        Corey S. Ribotsky
                                        Manager

                                    AJW OFFSHORE, LTD.
                                    By:  First Street Manager II, LLC

                                    By: /s/Corey S. Ribotsky
                                        --------------------
                                        Corey S. Ribotsky
                                        Manager

                                    AJW QUALIFIED PARTNERS, LLC
                                    By:  AJW Manager, LLC

                                    By: /s/Corey S. Ribotsky
                                        --------------------
                                        Corey S. Ribotsky
                                        Manager

                                    NEW MILLENNIUM CAPITAL
                                    PARTNERS II, LLC
                                    By:  First Street Manager II, LLC

                                    By: /s/Corey S. Ribotsky
                                        --------------------
                                        Corey S. Ribotsky
                                        Manager

                                      C-16Page
        1
        of  5

      EXHIBIT
        4.7

      

      10%
        A NOTE

      
        	 	 
	${______}.00	
                ________,
                  2006

              

      

       

      Subject
        to the terms and conditions of this 10% A Note (“Note”), for good and valuable
        consideration received, Scientigo, Inc., a Delaware corporation (the “Company”),
        promises to pay to the order of {_____________} (“Holder”) the principal amount
        of ${__________}.00 (the “Principal Amount”), plus simple interest, accrued on
        unpaid principal from the date of this Note until paid at the rate of 10.0%
        per
        annum (360-day year basis).

       

      The
        following is a statement of the rights of the Holder of this Note and the
        terms
        and conditions to which this Note is subject, and to which the Holder, hereof,
        by the acceptance of this Note, agrees:

       

      Payment
        Obligation.
        The
        principal and accrued but unpaid interest under this Note will be paid to
        the
        Holder on May 31, 2007 (the “Maturity Date”), unless previously paid or
        converted into securities of the Company in accordance with the “Optional
        Conversion” section hereof. All payments of principal and/or interest under this
        Note will be made at the address set forth below or by mail to the address
        of
        record of the Holder. All cash payments hereunder shall be made in lawful
        money
        of the United States of America, to the Holder, at such place and to such
        account as the Holder shall designate in a written notice to the Company.
        Accrued
        but unpaid interest shall be due and payable quarterly, commencing on the
        earlier of the first February 28, May 31, August 31 or November 30 following
        the
        date hereof.

      

      Prepayment.
        The
        principal amount of this Note may be prepaid by the Company at any time without
        penalty upon thirty (30) days prior written notice to the Holder.

       

      Optional
        Conversion.
        On or
        prior to ______________, 2006 (the “Conversion Termination Date”), the Principal
        Amount outstanding under this Note may be converted at the option of the
        Holder
        into shares of Common Stock of the Company at a conversion rate of one share
        per
        $.90 of the Principal Amount (the “Conversion Shares”). Such optional conversion
        may be for the whole or any part of the Principal Amount of this Note. The
        Holder may exercise his conversion rights hereunder by delivering a conversion
        notice to the Company substantially in the form of Exhibit A hereto. After
        such
        Conversion Termination Date, the Principal Amount of this Note shall no longer
        be convertible into Conversion Shares. 

       

      
        Reorganization,
          Reclassification, Consolidation, Merger or Sale, etc.  

         

        (i) If
          the
          Company at any time subdivides (by any stock split, stock dividend,
          recapitalization or otherwise) its class of outstanding shares of the Common
          Stock into a greater number of shares, the conversion rate in effect immediately
          prior to such subdivision will be proportionately reduced, and if the Company
          at
          any time combines (by reverse stock split or otherwise) one or more classes
          of
          its outstanding shares of its Common Stock, the conversion rate in effect
          immediately prior to such combination will be proportionately increased
          concurrently with the effectiveness of such event.

         

        (ii) Any
          capital reorganization, reclassification, consolidation, merger or sale
          of all
          or substantially all of the Company’s assets to another person which is effected
          in such a way that holders of Common Stock are entitled to receive (either
          directly or upon subsequent liquidation) stock, securities or assets with
          respect to or in exchange for Common Stock is referred to herein as an
“Organic
          Change.” Prior to the consummation of any Organic Change, the Company will make
          appropriate provisions to insure that the Holder will thereafter have the
          right
          upon subsequent conversion of the Principal Amount to acquire and receive
          such
          shares of stock, securities or assets as such Holder would have received
          in
          connection with such Organic Change if such Holder had converted the Principal
          Amount hereof immediately prior to such Organic Change. The Company will
          not
          effect any such consolidation, merger or sale, unless prior to the consummation
          thereof, the successor Company (if other than the Company) resulting from
          consolidation or merger or the Company purchasing such assets assumes by
          written
          instrument the obligation to deliver to the Holder such shares of stock,
          securities or assets as, in accordance with the foregoing provisions, such
          holder may be entitled to acquire.

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        Page 2
          of 5

         

        Stock
          to be Reserved.
          The
          Company will at all times reserve and keep available out of its authorized
          Common Stock or its treasury shares, solely for the purpose of issue upon
          the
          conversion of the Principal Amount of the Note as herein provided, such
          number
          of shares of Common Stock as shall then be issuable upon the conversion
          of then
          outstanding Principal Amount of this Note. 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 liens and charges with respect
          to
          the issue thereof. 

         

      

      Assignment.
        The
        rights and obligations of the Company and the Holder will be binding upon
        and
        inure to the benefit of the successors, assigns, heirs, administrators and
        transferees of the parties.

       

      Waiver
        and Amendment.
        Any
        provision of this Note may be amended, waived or modified upon the written
        consent of the Company and the Holder.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Page 3
        of 5

       

      Notices.
        Any
        notice, request or other communication required or permitted hereunder will
        be
        in writing and shall be deemed to have been duly given if personally delivered
        or if telegraphed or mailed by registered or certified mail, postage prepaid,
        at
        the respective addresses of the parties as set forth below. Any party hereto
        may
        by notice so given change its address for future notice hereunder. Notice
        will
        conclusively be deemed to have been given when personally delivered or when
        deposited in the mail or telegraphed in the manner set forth above and will
        be
        deemed to have been received when delivered. Prior to the maturity of this
        Note,
        if the Company (i) fixes a record date for purposes of determining the
        Holders of any class or series of securities who are entitled to receive
        any
        dividend or other distribution, or (ii) fixes a closing date for the
        issuance of any equity securities of the Company, the Company will mail to
        the
        Holder, at least fifteen (15) days prior to such date a notice specifying
        such
        record date or closing date and the matter pursuant to which such record
        date or
        closing date has been set. Prior to the payment of any Principal Amount,
        the
        Company shall provide the Holder with thirty (30) days prior written notice,
        stating that the Holder may convert the Principal Amount of the Note into
        Conversion Shares prior to payment.

       

      Rights
        as a Stockholder.
        This
        Note, as such, shall not entitle the Holder to any rights as a stockholder
        of
        the Company, except as otherwise specified herein.

       

      Governing
        Law.
        This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of Delaware, excluding that body of law relating to conflict of
        laws.

       

      Severability.
        If one
        or more provisions of this Note are held to be unenforceable under applicable
        law, such provision shall be excluded from this Note and the balance of the
        Note
        shall be interpreted as if such provision were so excluded and shall be
        enforceable in accordance with its terms. 

       

      Time
        of the Essence.
        Time is
        of the essence of this Note.

       

      Costs
        of Enforcement; Presentment.
        The
        Company agrees to pay on demand all of the losses, costs, and expenses
        (including, without limitation, all reasonable attorneys’ fees and
        disbursements) which the Holder incurs in connection with enforcement of
        this
        Note, or the protection or preservation of the Holder’s rights under this Note,
        whether by judicial proceeding or otherwise. Such costs and expenses include,
        without limitation, those incurred in connection with any workout or
        refinancing, or any bankruptcy, insolvency, liquidation or similar proceedings.
        The Company hereby waives diligence, demand, presentment, protest or notice
        of
        any kind. The Company agrees to make all payments under this Note without
        setoff
        or deduction and regardless of any counterclaim or defense.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Page 4
        of 5

       

      Headings;
        References.
        All
        headings used herein are used for convenience only and will not be used to
        construe or interpret this Note. Except where otherwise indicated, all
        references herein to Sections refer to Sections hereof.

       

      Previous
        Agreements Superceded.
        This
        Note shall supercede all previous agreements made on or prior to the date
        hereof
        between the Holder and the Company with respect to the subject matter
        hereof.

      

      IN
        WITNESS WHEREOF, the parties have caused this Note to be issued as of
        _____________, 2006.

      

      
        	 	
                THE
                  COMPANY:

                 

                Scientigo,
                  Inc.

                 

                By:________________________________________

                Name:______________________________________

                Title:_______________________________________

                 

                Address:

                Suite
                  205

                6701
                  Carmel Road

                Charlotte,
                  NC 28226

              
	 	
                HOLDER:

                 

                
                  By:________________________________________

                   

                

                Address:

                _________________________

                _________________________

                _________________________
                  

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Page 5
        of 5

       

      EXHIBIT
        A

      

      Scientigo,
        Inc.

      6701
        Carmel Road

      Suite
        205

      Charlotte,
        NC 28266

      Atten:
        Chief Financial Officer

      

      CONVERSION
        NOTICE

      

      SCIENTIGO
        10% A NOTES

       

      The
        undersigned is the owner of $______________ Principal Amount of Scientigo
        10% A
        Notes (the “Note”), which original Note is enclosed with this Conversion Notice.
        In accordance with the terms of such Note, the undersigned hereby elects
        to
        convert $_____________ Principal Amount of the Note into shares of the Common
        Stock of Scientigo, Inc. Any remaining Principal Amount of the Note and the
        shares of Common Stock should be delivered to:

      

      
        	 	
                ________________________________________

                ________________________________________

                ________________________________________

                 

              
	 	 
	 	
                Name:________________________________________

                Title:_________________________________________

                Date:_________________________________________

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