Document:

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EXHIBIT 4.2

         THIS NOTE HAS NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933 AND
         MAY NOT BE SOLD,  TRANSFERRED  OR ASSIGNED  UNLESS SO  REGISTERED OR AN
         EXEMPTION FROM REGISTRATION UNDER SAID ACT IS AVAILABLE.

                          STRONGHOLD TECHNOLOGIES, INC.

                                 PROMISSORY NOTE

UP TO US$100,000                                                  March 18, 2003

   FOR VALUE RECEIVED,  Stronghold Technologies,  Inc., a New Jersey corporation
(the  "COMPANY"),  hereby  promises to pay to the order of  Christopher J. Carey
(the  "LENDER"),  the  principal  amount of $100,000 (the  "PRINCIPAL  AMOUNT"),
together with interest on the Principal  Amount under this promissory note (this
"NOTE") at the per annum rate of 8% (calculated on the basis of a 360 day year),
for the period  beginning on the date hereof and continuing  until September 18,
2003 (the "Maturity Date"), subject to Section 2, payable as set forth below.

   In connection  with this Note,  the Company has issued a Securities  Purchase
Warrant (the "WARRANT") to the Lender  substantially in the form attached hereto
as EXHIBIT A, which shall be  exercisable  for that number of Shares (as defined
in the Warrant).

1.   PAYMENTS;  SECURITY.  All  principal  due  hereunder  shall be  payable  on
     September 18, 2003 (the "MATURITY  DATE"). In the event that any payment to
     be made hereunder shall be or become due on a Saturday, Sunday or any other
     day  which is a legal  bank  holiday  under  the  laws of the  State of New
     Jersey, such payment shall be or become due on the next succeeding business
     day.

2.   INTEREST.  The Company  promises  to pay to the order of the Lender  simple
     interest on the principal  amount hereof at a rate per annum equal to eight
     percent (8%),  which interest  shall be payable in quarterly  installments,
     commencing on June 30, 2003. Interest shall be calculated on the basis of a
     year of 365 days and for the number of days actually  elapsed from the date
     the loan is made by the Lender to the Company.  Any amounts of interest and
     principal  not paid when due shall bear  interest  at the  maximum  rate of
     interest  allowed by  applicable  law. The  payments of interest  hereunder
     shall be made in coin or currency of the United  States of America which at
     the time of payment shall be legal tender therein for the payment of public
     and private debts.

3.   SUBORDINATION.  The indebtedness evidenced by this Note is hereby expressly
     subordinated  in  right  of  payment  to  the  extent  and  in  the  manner
     hereinafter set forth. As used in this Note, the term "SENIOR INDEBTEDNESS"
     shall  mean the  principal  of and  unpaid  accrued  interest  on:  (i) all
     indebtedness of the Company to banks, commercial finance lenders, insurance
     companies or other financial institutions regularly engaged in the business
     of lending money,  which is for money  borrowed by the Company  (whether or
     not secured),  and (ii) any such  indebtedness or any debentures,  notes or

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     other evidence of indebtedness  issued in exchange for or to refinance such
     Senior  Indebtedness,  or any indebtedness arising from the satisfaction of
     such Senior Indebtedness by a guarantor.

     (a)  DEFAULT  ON SENIOR  INDEBTEDNESS.  If there  should  occur an Event of
          Default  under  Section  9,  then (i) no  amount  shall be paid by the
          Company with  respect to the  principal of or interest on this Note at
          the time  outstanding,  unless and until the principal of and interest
          on the Senior Indebtedness then outstanding shall be paid in full, and
          (ii) no claim or proof of claim  shall be filed with the Company by or
          on behalf of the  Lender  that shall  assert any right to receive  any
          payments  in respect of the  principal  of and  interest on this Note,
          except subject to the payment in full of the principal of and interest
          on all of the Senior Indebtedness then outstanding.

     (b)  EFFECT OF SUBORDINATION. Subject to the rights, if any, of the holders
          of  Senior   Indebtedness  under  this  Section  3  to  receive  cash,
          securities or other properties otherwise payable or deliverable to the
          Lender,  nothing  contained in this Section 3 shall impair, as between
          the Company and the Lender, the obligation of the Company,  subject to
          the terms and  conditions  hereof,  to pay to the Lender the principal
          hereof  and  interest  hereon  as and  when the  same  become  due and
          payable,  or shall prevent the Lender,  upon default  hereunder,  from
          exercising all rights,  powers and remedies  otherwise provided herein
          or by applicable law.

4.       PREPAYMENT.  The Company  shall have the right to prepay the  principal
         hereof, in whole or in part, without penalty.

5.       NO WAIVER.  No failure or delay by the Lender in exercising  any right,
         power or privilege  under this Note shall  operate as a waiver  thereof
         nor shall any single or partial  exercise thereof preclude any other or
         further exercise  thereof or the exercise of any other right,  power or
         privilege.  The rights and remedies herein provided shall be cumulative
         and not exclusive of any rights or remedies  provided by law. No course
         of dealing between the Company and the Lender shall operate as a waiver
         of any rights by the Lender.

6.       WAIVER OF  PRESENTMENT  AND NOTICE OF  DISHONOR.  The  Company  and all
         endorsers,  guarantors  and other parties that may be liable under this
         Note hereby  waive  presentment,  notice of  dishonor,  protest and all
         other demands and notices in connection with the delivery,  acceptance,
         performance or enforcement of this Note.

7.       ASSIGNABILITY.  The Lender may assign or transfer this Note without the
         prior written consent of the Company to any partner,  retired  partner,
         member, retired member, director, officer,  shareholder or affiliate of
         the Lender or of an affiliate  of the Lender.  Any such  assignment  or
         transfer shall be made in compliance  with all  applicable  federal and
         state  securities  laws.  The Company  may not assign or  delegate  its
         rights or obligations  hereunder  without the prior written  consent of
         the Lender, which consent may be withheld for any reason.

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8.   PLACE OF PAYMENT.  All  payments of principal of this Note and the interest
     due thereon shall be made at the Company's  principal  place of business or
     at such  other  place as the  Lender  may from  time to time  designate  in
     writing to the Company.

9.   EVENTS OF DEFAULT.  The entire unpaid principal amount of this Note and the
     interest  due  thereon  shall,  at  the  option  of the Lender exercised by
     written  notice  to  the  Company, forthwith become and be due and payable,
     without  presentment,  demand,  protest or other notice of any kind, all of
     which  are  hereby  expressly  waived,  if any one or more of the following
     events  (herein  called  "EVENTS  OF DEFAULT") shall have occurred (for any
     reason  whatsoever  and  whether  such  happening  shall  be  voluntary  or
     involuntary or come about or be effected by operation of law or pursuant to
     or  in  compliance  with  any judgment, decree or order of any court or any
     order,  rule  or regulation of any administrative or governmental body) and
     be  continuing  at  the  time  of  such  notice:

     (a)  failure to pay any principal or interest on this Note on or before the
          date upon which such payment is due;

     (b)  default by the Company under the terms of any  agreements  relating to
          any obligations for borrowed money,  which default is not cured within
          any grace or cure period applicable thereto;

     (c)  if the Company shall:

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

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

          (iii)consent  to the  appointment  of a  receiver  of the whole or any
               substantial part of his property;

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

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

(d)      if a court of competent jurisdiction shall enter an order, judgment, or
         decree  appointing,  without  the consent of the  Company,  a receiver,
         custodian or trustee of the whole or any substantial  part of Company's
         property,  and such order,  judgment or decree  shall not be vacated or
         set aside or stayed within 60 days from the date of entry thereof; or

(e)      if,  under the  provisions  of any  other law for the  relief or aid of
         debtors,  any court of competent  jurisdiction  shall assume custody or
         control of the whole or any substantial part of Company's  property and
         such custody or control  shall not be  terminated  or stayed  within 60
         days from the date of assumption of such custody or control.

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10.  REMEDIES.  In case any one or more of the  Events of Default  specified  in
     Section 9 hereof  shall have  occurred  and be  continuing,  the Lender may
     proceed to protect and enforce its rights  either by suit in equity  and/or
     by action at law,  whether for the specific  performance of any covenant or
     agreement  contained  in this Note or in aid of the  exercise  of any power
     granted in this Note,  or the Lender may  proceed to enforce the payment of
     all sums due upon this Note or to  enforce  any  other  legal or  equitable
     right of the Lender.  Company further promises to pay reasonable attorneys'
     fees, court costs and any other expenses, losses, charges, damages incurred
     or advances made by the Lender in the protection of its rights or caused by
     Company's default under the terms of this Note.

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

                           If to the Company,  at 777 Terrace Avenue,  Hasbrouck
                  Heights, New Jersey 07604,  Attention:  President,  or at such
                  other  address  as may have been  furnished  in writing by the
                  Company to the Lender,  with a copy to Hale and Dorr LLP,  650
                  College Road East,  Princeton,  New Jersey  08540,  Attention:
                  Raymond P. Thek, Esq.; or

                           If  to   the   Lender,   at   450   Claremont   Road,
                  Benardsville,  New Jersey  07924,  or at such other address as
                  may be furnished in writing by such Lender to the Company.

12.      SEVERABILITY.  In the event that one or more of the  provisions of this
         Note shall for any reason be held invalid,  illegal or unenforceable in
         any respect, such invalidity,  illegality or unenforceability shall not
         affect  any  other  provision  of this  Note,  but this  Note  shall be
         construed as if such invalid,  illegal or  unenforceable  provision had
         never been contained herein.

13.      GOVERNING LAW. This Note and the rights and  obligations of the Company
         and the Lender shall be governed by and  construed in  accordance  with
         the laws of the State of New Jersey.

                            [SIGNATURE PAGE FOLLOWS]

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         IN WITNESS WHEREOF, the undersigned has caused this Note to be executed
and delivered on the date first written above.

                                          STRONGHOLD TECHNOLOGIES, INC.

                                          By:  /S/ CHRISTOPHER J. CAREY
                                               -------------------------
                                               Name:  Christopher J. Carey
                                               Title: President and Chief
                                               Executive Officer

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                                   SCHEDULE A
                                  -------------

                           SECURITIES PURCHASE WARRANT
                           ---------------------------

<PAGE><PAGE>
EXHIBIT 4.3

         THIS WARRANT AND THE SHARES OBTAINABLE UPON ITS EXERCISE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
         SECURITIES LAWS (COLLECTIVELY, THE "ACTS"), AND MAY NOT BE OFFERED,
         SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
         REGISTERED UNDER ALL APPLICABLE ACTS OR UNLESS AN OPINION OF COUNSEL IS
         DELIVERED TO THE ISSUER IN FORM AND SUBSTANCE SATISFACTORY TO THE
         ISSUER TO THE EFFECT THAT AN EXEMPTION FROM REGISTRATION IS AVAILABLE
         UNDER ALL APPLICABLE ACTS.

No. [ ]                                                               [ ], 2003

                          STRONGHOLD TECHNOLOGIES, INC.

                           Securities Purchase Warrant

                                -----------------

         THIS CERTIFIES THAT, for value received, [ ], or its registered assigns
(the "Holder"), is entitled to subscribe for and purchase from Stronghold
Technologies, Inc., a Nevada corporation (the "Company"), at any time prior to
or upon [ ], 2013, the Shares at the Exercise Price (each as defined in Section
1 below).

         In connection with this warrant (the "Warrant"), the Company has issued
a Promissory Note, dated as of [ ], 2003 (the "Note"), to the Holder.
Capitalized terms not otherwise defined herein shall have the meanings set forth
in the Note.

         This Warrant is subject to the following terms and conditions:

1. Shares; Exercise Price.

(a) As used herein, the term "Shares" means [ ] ([ ]) shares of the Company's
Common Stock, par value $0.0001 per share (the "Common Stock"). As used herein,
the term "Exercise Price" means $[ ]. The number of Shares issuable under this
Section 1(a) and the Exercise Price are subject to adjustment from time to time
pursuant to Section 6 hereof. The Common Stock referenced above may be referred
to herein as the "Warrant Securities".

2. Method of Exercise; Payment.

(a) Cash Exercise. The purchase rights represented by this Warrant may be
exercised by the Holder, in whole or in part, at any time, or from time to time,
by the surrender of this Warrant (together with a duly executed notice of
exercise (the "Notice of Exercise") in the form attached hereto as Exhibit A) at
the address of the Company's principal corporate offices set forth in Section 7
hereof, and by payment to the Company of an amount equal to the Exercise Price
multiplied by the number of the Shares being purchased, which amount may be

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paid, at the election of the Holder, by (i) wire transfer or check payable to
the order of the Company, (ii) cancellation by the Holder of indebtedness or
other obligations of the Company to the Holder or (iii) any combination of (i)
and (ii). The Person in whose name any certificate representing the Shares
issuable upon any exercise of this Warrant shall be deemed to have become the
holder of record of, and shall be treated for all purposes as the record holder
of, the Shares represented thereby (and such Shares shall be deemed to have been
issued) immediately prior to the close of business on the date or dates upon
which such surrender and payment are made. As used herein, the term "Person"
means any individual or any corporation, partnership, trust, limited liability
company or other entity or organization of any kind.

(b) Stock Certificates. In the event of any exercise of the rights represented
by this Warrant, as promptly as practicable on or after the date of exercise and
in any event within ten days thereafter, the Company at its expense shall issue
and deliver to the Holder entitled to receive the same a certificate or
certificates representing the number of Shares issued upon such exercise. In the
event that this Warrant is exercised in part, as promptly as practicable on or
after the date of exercise and in any event within ten days thereafter, the
Company at its sole expense will execute and deliver a new Warrant exercisable
for the number of Shares for which this Warrant may then be exercised, which new
warrant shall in all respects be identical to this Warrant.

(c) Taxes. The issuance of the Shares upon the exercise of this Warrant, and the
delivery of certificates or other instruments representing such Shares, shall be
made without charge to the Holder for any tax or other charge of whatever nature
in respect of such issuance and the Company shall bear any such taxes in respect
of such issuance.

3. Stock Fully Paid; Reservation of Shares. All of the Shares issuable upon the
exercise of the rights represented by this Warrant will, upon issuance and
receipt of the Exercise Price therefor, be fully paid and nonassessable, and
free from all preemptive rights, rights of first refusal or first offer, taxes,
liens and charges of whatever nature. During the period within which the rights
represented by this Warrant may be exercised, the Company will at all times have
authorized and reserved for issuance a sufficient number of shares of its Common
Stock to provide for the full exercise of the rights represented by this
Warrant. The Company hereby agrees that the issuance of this Warrant shall
constitute full authority to its officers who are charged with the duty of
executing stock certificates to execute and issue the proper certificates for
Shares upon the full or each partial exercise of this Warrant and shares of
Common Stock issuable upon any conversion of all or any portion of such Shares.

                                      -2-

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4.      Registration Rights.

(a) Incidental Registration. Whenever the Company proposes to file a
Registration Statement covering shares of Common Stock at any time and from time
to time, it will, prior to such filing, give written notice to the Holder of its
intention to do so. Upon the written request of the Holder given within 20 days
after the Holder's receipt of such notice (which request shall state the
intended method of disposition of such shares purchased pursuant to this
Warrant), the Company shall use its best efforts to cause all shares purchased
pursuant to this Warrant, which the Company has been requested by such Holder to
register, to be registered under the Securities Act to the extent necessary to
permit their sale or other disposition in accordance with the intended methods
of distribution specified in the request of such Holder. Such "piggy-back"
registration rights as described in this Section 4(a) shall have the same terms
and conditions as set forth in Section 4(g), Section 6, and Section 7 of that
certain Registration Rights Agreement, dated May 16, 2002, by and among the
Company and Stanford Venture Capital Holdings, Inc.

(b) Demand Registration. In the event that no Registration Statement for which
Holder's Shares are eligible to be included (and are in fact included) is filed
on or prior to [ ], 2004, the Holder may thereafter, on one occasion, require
the Company to effect the registration of the Shares issued or issuable
hereunder on Form SB-2 or Form S-3 (or any successor form thereto), provided
that the Company is eligible to use such form for such registration, pursuant to
the provisions of this Section 4(b). If the Holder of the Shares issued and
issuable hereunder shall give notice to the Company to the effect that such
Holder desires to transfer the Shares issued and issuable hereunder pursuant to
a public distribution (within the meaning of the Securities Act), then the
Company shall, reasonably and promptly after receipt of such (but in any event
within 45 days after receipt of such notice), file a registration statement on
the specified form pursuant to the Securities Act and cause such Shares to be
registered under the Securities Act and qualified under the securities or blue
sky laws of any state reasonably requested by a prospective seller, to the end
that such Shares may be sold by the Holder under the Securities Act and pursuant
to the securities or blue sky laws of the jurisdictions requested, as promptly
as is reasonably practicable thereafter and the Company will use its
commercially reasonable best efforts to cause any such registration to become
effective and to keep the prospectus included therein current until the
distribution shall have been completed (but in any case not to exceed 90 days
after the effective date of such registration statement); provided that such
holders shall furnish the Company with such appropriate information in
connection therewith as the Company may reasonably request in writing.
Notwithstanding the foregoing, the Company shall not be required to effect any
registration hereunder (i) for less than 50,000 Shares (subject to appropriate
adjustment in the case of stock dividends, stock splits, recapitalizations and
the like) unless the registration covers all of the remaining Shares purchased
or purchasable by the Holder hereunder or (ii) if the Holder has not exercised
purchase rights under this Warrant in respect of such Shares. The managing
underwriters, if any, for any offering made pursuant to this Section 4(b) shall
be selected by the Company, subject to the consent of the Holder, which consent
shall not be unreasonably withheld. Such "demand" registration rights as
described in this Section 4(b) shall have the same terms and conditions as set
forth in Section 6 and Section 7 of that certain Registration Rights Agreement,
dated May 16, 2002, by and among the Company and Stanford Venture Capital
Holdings, Inc.

                                      -3-
<PAGE>

5. Fair Market Value. The Company and the Holder, having adverse interests as a
result of arm's length bargaining, agree that:

(a) Neither the Holder nor any of its  affiliates  has  rendered any services to
the Company in connection with this Warrant;

(b) The Warrant is not being issued as compensation;

(c) The aggregate fair market value of the Notes, if issued apart from the
Warrants, is $[ ] and the aggregate fair market value of the Warrants, if issued
apart from the Notes, is $[ ]; and

(d) All tax returns and other information of each party relative to this Warrant
and the Note shall consistently reflect the matters agreed to in (a) through (c)
above.

6. Adjustments of Exercise Price and Number and Type of Shares.

(a) Merger, Consolidation, Share Exchange, Reorganization, Etc. If all or any
portion of this Warrant shall be exercised subsequent to any (i) merger,
consolidation, recapitalization, exchange of shares, or reorganization of the
Company, (ii) sale or transfer of all or substantially all of the assets of the
Company or (iii) other similar event occurring after the date hereof, as a
result of which shares of the Common Stock shall be changed into the same or a
different number of shares of the same or another class or classes of securities
of the Company or another entity, then lawful provision shall be made by the
Company so that the Holder exercising this Warrant shall receive, for the
aggregate Exercise Price upon such exercise, the aggregated number and class of
shares which such Holder would have received if this Warrant had been exercised
immediately prior to such merger, consolidation, recapitalization, exchange of
shares, reorganization, sale, or other similar event.

(b) Adjustment Certificate. Whenever the number or type of Shares purchasable
hereunder shall be adjusted pursuant to Section 6(a), the Company shall promptly
issue a certificate to the Holder setting forth, in reasonable detail, the event
requiring the adjustment, the amount of adjustment, the method by which such
adjustment was calculated, including the facts upon which such adjustment was
based, and the number and type of Shares purchasable hereunder after giving
effect to each adjustment.

(c) Specific Notices. In case:

     (i) the Company  shall take a record of the holders of its Common Stock (or
other  stock or  securities  at the time  receivable  upon the  exercise of this
Warrant)  for the purpose of  entitling  them to receive  any  dividend or other
distribution,  any right to subscribe for or purchase any shares of stock of any
class or any other securities, or to receive any other right; or

     (ii) of any capital  reorganization of the Company, any reclassification of
the capital  stock of the Company,  any  consolidation  or merger of the Company
with or into another entity,  or any conveyance of all or  substantially  all of
the assets or the Company to another entity or individual; or

                                      -4-
<PAGE>

     (iii) of any  voluntary  dissolution,  liquidation,  or  winding-up  of the
Company; or

     (iv) of any  redemption  or  conversion  of all  outstanding  shares of the
Common Stock;

         then, and in each such case, the Company will notify the Holder of, as
the case may be, (1) the date on which a record is to be taken for the purpose
of such dividend, distribution, or right and the amount and character of such
dividend, distribution or right, or (2) the date on which such reorganization,
reclassification, consolidation, merger, conveyance, dissolution, liquidation,
winding-up, redemption or conversion is to take place and the time, if any is to
be fixed, as of which the holders of record of Common Stock (or such stock or
securities at the time receivable upon the exercise of this Warrant) shall be
entitled to exchange their shares of Common Stock (or such other stock or
securities) for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation, or winding-up. For any such notification required
above, the Company shall provide to Holder written notice at least 20 days prior
to the date specified therein.

7. Notices.

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

                  If to the Company, at 777 Terrace Avenue, Hasbrouck Heights,
New Jersey 07604, Attention: President, or at such other address as may have
been furnished in writing by the Company to the Holder, with a copy to Hale and
Dorr LLP, 650 College Road East, Princeton, New Jersey 08540, Attention: Raymond
P. Thek, Esq.; or

                  If to the Holder, [ ], or at such other address as may be
furnished in writing by the Holder to the Company.

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

8. Transfers, etc

(a) This Warrant and the Warrant Securities shall not be sold or transferred
unless either (i) they first shall have been registered under the Act, or (ii)
the Company first shall have been furnished with an opinion of legal counsel,
reasonably satisfactory to the Company, to the effect that such sale or transfer
is exempt from the registration requirements of the Act. Notwithstanding the

                                      -5-
<PAGE>

foregoing, no registration or opinion of counsel shall be required for (i) a
transfer by a Holder which is an entity to a wholly owned subsidiary of such
entity, a transfer by a Holder which is a partnership to a partner of such
partnership or a retired partner of such partnership or to the estate of any
such partner or retired partner, or a transfer by a Holder which is a limited
liability company to a member of such limited liability company or a retired
member or to the estate of any such member or retired member.

     (b)  Each  certificate  representing  Warrant  Shares  shall  bear a legend
substantially in the following form:

              "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
              REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY
              NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR
              HYPOTHECATED UNLESS AND UNTIL SUCH SECURITIES ARE REGISTERED UNDER
              SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY IS
              OBTAINED TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED."

         The foregoing legend shall be removed from the certificates
representing any Warrant Shares, at the request of the holder thereof, at such
time as they become eligible for resale pursuant to Rule 144(k) under the Act.

     (c) The Company will maintain a register containing the name and address of
the Holder of this  Warrant.  The Holder may change its  address as shown on the
warrant register by written notice to the Company requesting such change.

     (d) Subject to the  provisions  of Section 7 hereof,  this  Warrant and all
rights hereunder are  transferable,  in whole or in part, upon surrender of this
Warrant with a properly executed assignment (in the form of Exhibit B hereto) at
the  principal  office of the Company (or, if another  office or agency has been
designated  by the  Company  for such  purpose,  then at such  other  office  or
agency).

9. Removal of Legend. Upon request of a holder of a certificate with the legends
required by Section 8 hereof, the Company shall issue to such holder a new
certificate therefor free of any transfer legend, if, with such request, the
Company shall have received an opinion of counsel satisfactory to the Company in
form and substance to the effect that any transfer by such holder of the shares
evidenced by such certificate will not violate the Securities Act and any
applicable state securities laws.

10. Fractional Shares. No fractional Shares will be issued in connection with
any exercise hereunder. Instead, the Company shall pay to such Holder an amount
in cash equal to any fractional share to which such Holder would be entitled,
multiplied by the Fair Market Value of a Share, as quoted on the Nasdaq Stock
Market or in the Over-the-Counter Market Summary.

                                      -6-
<PAGE>

11. Representations and Warranties of the Company. The Company hereby represents
and warrants to the Holder as follows:

     (a) This Warrant has been duly  authorized  and executed by the Company and
is a valid and binding obligation of the Company  enforceable in accordance with
its terms; and

     (b) The execution and delivery of this Warrant are not, and the issuance of
the Shares upon  exercise of this  Warrant in  accordance  with the terms hereof
will not be,  inconsistent with the Company's  Certificate of Incorporation,  as
then in effect, and its Bylaws, as then in effect.

12.  Representations  and  Warranties by the Holder.  The Holder  represents and
warrants to the Company as follows:

     (a) This Warrant is being acquired for its own account,  for investment and
not with a view to, or for resale in connection with, any  distribution  thereof
within the meaning of the  Securities  Act. Upon  exercise of this Warrant,  the
Holder  shall,  if so requested by the  Company,  confirm in writing,  in a form
reasonably  satisfactory to the Company,  that the Shares issuable upon exercise
of this  Warrant are being  acquired for  investment  and not with a view toward
distribution or resale that would violate the Securities Act.

     (b) The Holder  understands  that the  Warrant and the Shares have not been
registered under the Securities Act by reason of their issuance in a transaction
exempt  from  the  registration  and  prospectus  delivery  requirements  of the
Securities  Act pursuant to Section 4(2) thereof,  and that they must be held by
the Holder  indefinitely,  and that the Holder must  therefore bear the economic
risk of such investment indefinitely, unless a subsequent disposition thereof is
registered under the Securities Act or is exempted from such registration.

     (c) The Holder has such  knowledge and experience in financial and business
matters that it is capable of evaluating the merits and risks of the purchase of
this  Warrant and the Shares  purchasable  pursuant to the terms of this Warrant
and of protecting its interests in connection therewith.

     (d) The Holder is able to bear the  economic  risk of the  purchase  of the
Shares pursuant to the terms of this Warrant.

     (e) The Holder is an "accredited  investor"  within the meaning of Rule 501
of Regulation D under the Securities Act.

13. Rights of Stockholders. Subject to Section 6 hereof, no Holder, as such,
shall be entitled to vote or receive dividends or be deemed the holder of the
Shares or any other securities of the Company that may at any time be issuable
on the exercise hereof for any purpose, nor shall anything contained herein be
construed to confer upon the Holder, as such, any of the rights of a stockholder
of the Company or any right to vote for the election of directors or upon any
matter submitted to stockholders at any meeting thereof, or to give or withhold
consent to any corporate action (whether upon any recapitalization, issuance of
stock, reclassification of stock, change of par value, consolidation, merger,
conveyance, or otherwise) or to receive notice of meetings, or to receive
dividends or subscription rights or otherwise until this Warrant shall have been
exercised and the Shares purchasable upon the exercise hereof shall have become
issuable, as provided herein.

                                      -7-
<PAGE>

14. Expiration of Warrant. This Warrant shall expire and shall no longer be
exercisable as of 5:00 p.m., Eastern Time, on [ ], 2013.

15. Miscellaneous.

(a) This Warrant shall be governed by and construed for all purposes under and
in accordance with the laws of the State of New Jersey without regard to
principles of conflicts of law.

(b) The headings in this Warrant are for purposes of reference only, and shall
not limit or otherwise affect any of the terms hereof.

(c) The representations, warranties, covenants and conditions of the respective
parties contained herein or made pursuant to this Warrant shall survive the
execution and delivery of this Warrant.

(d) The terms of this Warrant shall be binding upon and shall inure to the
benefit of any successors or assigns of the Company and of the Holder and of the
Shares issued or issuable upon the exercise hereof.

(e) This Warrant, the Note and the other documents delivered pursuant hereto
constitute the full and entire understanding and agreement between the parties
with regard to the subjects hereof and thereof.

(f) The Company shall not, by amendment of the Certificate of Incorporation or
Bylaws, or through any other means, directly or indirectly, avoid or seek to
avoid the observance or performance of any of the terms of this Warrant and
shall at all times in good faith assist in the carrying out of all such terms
and in the taking of all such action as may be necessary or appropriate in order
to protect the rights of the Holder against impairment.

(g) Upon receipt of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant and, in the case of any such
loss, theft or destruction, upon delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of any such
mutilation, upon surrender and cancellation of such Warrant, the Company, at its
expense, will execute and deliver to the Holder, in lieu thereof, a new Warrant,
which new warrant shall have the same date and be identical in all other
respects to this Warrant.

(h) This Warrant and any provision hereof may be amended, waived or terminated
only by an instrument in writing signed by the Company and the Holder.

                            [Signature Page Follows]

<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by
its duly authorized officer.

                         STRONGHOLD TECHNOLOGIES, INC.

                         By
                              -----------------------------------------------
                               Name:  Christopher J. Carey
                               Title:  President and Chief Executive Officer

<PAGE>

                                                                   Exhibit A
                                                                    --------

                               NOTICE OF EXERCISE

TO:      Stronghold Technologies, Inc.
         Attention:  President

         The undersigned hereby elects to purchase _______________ shares of
Common Stock of Stronghold Technologies, Inc. pursuant to the terms of this
Warrant, and tenders herewith payment of the purchase price of such shares in
full. (Initial here if the undersigned elects this alternative). _________

         Please issue a certificate or certificates representing said securities
in the name of the undersigned or in such other name as is specified below:

                 ---------------------------------------------

                                     (Name)
                  ---------------------------------------------

                 ---------------------------------------------

                                    (Address)
                 ---------------------------------------------

         The undersigned hereby represents and warrants that the aforesaid
securities are being acquired for the account of the undersigned for investment
and not with a view to, or for resale, in connection with the distribution
thereof, and that the undersigned has no present intention of distributing or
reselling such shares and all representations and warranties of the undersigned
set forth in Section 12 of the attached Warrant are true and correct as of the
date hereof.

                                              -------------------
                                             (Signature and Date)

<PAGE>

                                                                       Exhibit B
                                                                       ---------

                                 ASSIGNMENT FORM

                  In connection with that certain Promissory Note, dated as of
March __, 2003, issued by [ ] (the "Assignor") in favor of _____________________
(the "Assignee"), the Assignor hereby sells, assigns and transfers all of its
rights under the attached Warrant (No. ___) (the "Warrant"), with respect to the
number of shares of Common Stock of Stronghold Technologies, Inc. (the
"Company"), covered thereby and as set forth below, unto:

Name of Assignee            Address                        No. of Shares
-----------------          ----------                     ---------------

         Section 1 - Assignor
         ---------------------

This warrant assignment is in connection with a Promissory Note and a Securities
Purchase Warrant, both dated as of March __, 2003, by the Company in favor of
the Assignor.

                  The Assignor hereby makes the following representations and
warranties:

1.       The Assignor acquired the Warrant from the Company on March __, 2003.

2.       The Assignor purchased the Warrant for his sole account.

3.       The sale of the Warrant will not be accompanied by the publication of
         any advertisement.

4.       The sale of the Warrant will not be effected through a broker-dealer in
         a public offering.

5.       In the sale of the Warrant, the Assignor is not acting on behalf of the
         Company.

6.       In the sale of the Warrant, the Assignor is not acting as an
         underwriter or a dealer (as such terms are defined under the Securities
         Act of 1933, as amended).

7.       The Warrant is not being sold for the Company in connection with a
         distribution.

8.       The Warrant is not being sold in connection with the participation in a
         distribution by the Company.

<PAGE>

                                                            Section 2 - Assignee
                                                           ---------------------

The Assignee hereby makes the same representations and warranties as those made
by the Assignor in Section 12 of the Warrant and in addition, makes the
following representations and warranties:

1.       The Assignee acquired the Warrant from the Assignor on March __, 2003.

2.       The Warrant was not acquired by the Assignee with the intent to
         distribute the Warrant.

3.       The Assignee is purchasing the Warrant for his sole account.

4.       The purchase of the Warrant will not be accompanied by the publication
         of any advertisement.

5.       The purchase of the Warrant will not be effected through a
         broker-dealer in a public offering.

6.       In the purchase of the Warrant, the Assignee is not acting on behalf of
         the Company.

7.       In the purchase of the Warrant, the Assignee is not acting as an
         underwriter or a dealer (as such terms are defined under the Securities
         Act of 1933, as amended).

8.       The Warrant is not being acquired for the Company in connection with a
         distribution.

9.       The Warrant is not being acquired in connection with the participation
         in a distribution by the Company.

         Section 3 - Company
          ------------------

                  The Company (i) hereby consents to this assignment of the
Warrant and (ii) waives its right to an opinion of legal counsel in accordance
with Section 8 of the Warrant.

<PAGE>

                  In witness whereof, the undersigned parties hereto have
executed this Agreement as of the ___ day of March, 2003.

                                    ASSIGNOR

                                    -----------------------------------
                                    [  ]

                                    ASSIGNEE

                                   -----------------------------------

                                   -----------------------------------

                                   COMPANY

                                   STRONGHOLD TECHNOLOGIES, INC.

                                   By:_________________________________

                                   Name:    ______________________________

                                   Title:   ______________________________

<PAGE>

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