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EXHIBIT 4.3

 NEITHER THIS  SECURITY  NOR  THE SECURITIES  INTO  WHICH  THIS  SECURITY  IS
 EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
 OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
 REGISTRATION UNDER THE SECURITIES ACT OF  1933, AS AMENDED (THE  "SECURITIES
 ACT"), AND, ACCORDINGLY, MAY  NOT BE OFFERED OR  SOLD EXCEPT PURSUANT TO  AN
 EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO  AN
 AVAILABLE  EXEMPTION  FROM,  OR  IN  A  TRANSACTION  NOT  SUBJECT  TO,   THE
 REGISTRATION REQUIREMENTS  OF  THE SECURITIES  ACT  AND IN  ACCORDANCE  WITH
 APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF  COUNSEL
 TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
 ACCEPTABLE TO THE COMPANY.  THIS  SECURITY AND THE SECURITIES ISSUABLE  UPON
 EXERCISE OF THIS  SECURITY MAY  BE PLEDGED IN  CONNECTION WITH  A BONA  FIDE
 MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES AS PERMITTED BY  LAW
 AND THE SECURITIES PURCHASE AGREEMENT PURSUANT TO WHICH THE SECURITIES  WERE
 ISSUED.

                        COMMON STOCK PURCHASE WARRANT                   NO. 1

                    To Purchase Shares of Common Stock of

                           RAPID LINK INCORPORATED

      This COMMON STOCK PURCHASE WARRANT (this "Warrant") certifies that, for
 value received, TRIDENT  GROWTH FUND, L.P.,  a Delaware limited  partnership
 (the "Holder"), is entitled, upon the  terms and subject to the  limitations
 on exercise and  the conditions  hereinafter set forth,  at any  time on  or
 after the date hereof, March 8,  2006 (the "Initial Exercise Date"), and  on
 or prior to the close  of business on the  fifth anniversary of the  Initial
 Exercise Date (the "Termination Date"), to  subscribe for and purchase  from
 RAPID LINK INCORPORATED, a Delaware corporation (the "Company"), such number
 of shares of common  stock, par value  $001 per share,  of the Company  (the
 "Common Stock"),  subject to  adjustment herein  (the "Warrant  Shares")  as
 follows:

           a)   600,000 at an Exercise Price equal to $.14; plus

           b)   600,000 at an Exercise Price equal to $.25 per share; plus

           c)   an additional 30,000  to vest and  become exercisable on  the
 last day of each month  prior to the Company's  satisfaction in full of  the
 Debenture, or the Holder's complete conversion thereof, as the case may  be,
 such Warrant Shares to have an Exercise Price equal to $.25 per share.

      Section 1.     Definitions.  Capitalized terms  used and not  otherwise
 defined herein shall have the meanings set forth in that certain  Securities
 Purchase Agreement  (the  "Purchase  Agreement"),  of  even  date  herewith,
 entered into by and among the Company and the Holder.

      Section 2.     Exercise.

           a) Exercise   of  Warrant.    Exercise   of  the  purchase  rights
      represented by this  Warrant may be  made at any  time or  times on  or
      after the Initial Exercise Date and  on or before the Termination  Date
      (each, an  "Exercise  Date") by  delivery  to  the Company  of  a  duly
      executed facsimile copy of the Notice of Exercise Form annexed   hereto
      (or such other office or agency of  the Company as it may designate  by
      notice in  writing to  the registered  Holder at  the address  of  such
      Holder appearing  on  the books  of  the Company);  provided,  however,
      within five  Business Days  of  the date  said  Notice of  Exercise  is
      delivered to  the  Company,  the Holder  shall  have  surrendered  this
      Warrant to the Company and the Company shall have received  payment  of
      the aggregate Exercise Price  of the shares  thereby purchased by  wire
      transfer or cashier's check drawn on a United States bank.

                Exercise Price.   The Exercise  Price (so  called herein)  of
 each share of Common Stock under this  Warrant shall be equal to the  amount
 set  forth  above in  the paragraph  immediately  preceding  Section 1.  Any
 reference to the Exercise  Price herein shall relate  to the Exercise  Price
 relevant to such Warrant Shares as described above.

           b) Cashless Exercise.  If at any time after one year from the date
      of  issuance  of  this  Warrant  there  is  no  effective  Registration
      Statement registering the resale of the  Warrant Shares by the  Holder,
      then this Warrant  may also be  exercised at such  time by  means of  a
      "cashless exercise" in which the Holder shall be entitled to receive  a
      certificate for  the number  of Warrant  Shares equal  to the  quotient
      obtained by dividing [(A-B) (X)] by (A), where:

                (A) = the price of said Common Stock determined by  reference
                to the last reported sale price for the Common Stock on  such
                day on the principal securities exchange on which the  Common
                Stock is listed  or admitted to  trading or if  no such  sale
                takes place on such date, the average of the closing bid  and
                asked prices thereof  as officially reported,  or, if not  so
                listed or admitted to trading on any securities exchange, the
                last  sale  price  for  the  Common  Stock  on  the  National
                Association of Securities Dealers  national market system  on
                such date, or, if  there shall have been  no trading on  such
                date or  if the  Common Stock  shall not  be listed  on  such
                system, the average of  the closing bid  and asked prices  in
                the over-the-counter market as  furnished by any NASD  member
                firm selected  from time  to time  by  the Company  for  such
                purpose or,  if the  Common Stock  is not  traded, then  such
                price as is reasonably determined  by the Company's Board  of
                Directors (the "Market Value");

                (B) = the Exercise Price of this Warrant, as adjusted; and

                (X) = the number  of Warrant Shares issuable upon exercise of
                this Warrant in accordance  with the terms of this Warrant by
                means of a cash exercise rather than a cashless exercise.

           Notwithstanding  anything   herein  to   the  contrary,   on   the
      Termination Date,  this Warrant  shall be  automatically exercised  via
      cashless exercise pursuant to this Section 2(c).

           c) Exercise  Limitations.  The Holder shall  not have the right to
      exercise any  portion  of  this  Warrant,  pursuant  to  Section  2  or
      otherwise, to  the extent  that after  giving effect  to such  issuance
      after exercise, the Holder (together with the Holder's affiliates),  as
      set forth on the applicable Notice of Exercise, would beneficially  own
      in excess of 4.99% (or as applicable, 9.99%) of the number of shares of
      the Common Stock  outstanding immediately after  giving effect to  such
      issuance.  For purposes of the  foregoing determination, the number  of
      shares of  Common  Stock  beneficially owned  by  the  Holder  and  its
      affiliates shall include the number of shares of Common Stock  issuable
      upon such exercise of this Warrant less the number of shares of  Common
      Stock which  would be  issuable upon  (A)  exercise of  the  remaining,
      nonexercised portion of this Warrant and (B) exercise or conversion  of
      the  unexercised  or  unconverted  portion  of  any  other   Securities
      (including, without  limitation,  any  other  Debentures  or  Warrants)
      subject to  a limitation  on conversion  or exercise  analogous to  the
      limitation contained herein beneficially  owned by the Holder.   Except
      as set forth in  the preceding sentence, for  purposes of this  Section
      2(c), beneficial  ownership  shall  be calculated  in  accordance  with
      Section 13(d) of the Exchange Act.   To the extent that the  limitation
      contained in this  Section 2(c) applies,  the determination of  whether
      this Warrant is exercisable (in relation  to other securities owned  by
      the Holder) and of which a portion of this Warrant is exercisable shall
      be in the sole discretion of such Holder.  For purposes of this Section
      2(c), in determining the number of outstanding shares of Common  Stock,
      the Holder may rely on the number of outstanding shares of Common Stock
      as reflected in (x)  Schedule 3.1(g) to the  Purchase Agreement, (y)  a
      more recent  public announcement  by the  Company, including  the  most
      recent annual or quarterly report of  Form 10-KSB or 10-QSB filed  with
      the Commission; or (z) any other notice by the Company or the Company's
      transfer agent  setting forth  the number  of  shares of  Common  Stock
      outstanding.  Upon  the written  or oral  request  of the  Holder,  the
      Company shall within two Business Days confirm orally and in writing to
      the Holder the number of shares of Common Stock then outstanding.   The
      provisions of this Section  2(c) may be waived  by the Holder upon,  at
      the election of the Holder, not less than 61 days' prior notice to  the
      Company, and  the provisions  of this  Section 2(c)  shall continue  to
      apply until such  61st day (or  such later date,  as determined by  the
      Holder, as may be specified in such notice of waiver).

           d) Mechanics of Exercise.

                     i. Authorization   of  Warrant  Shares.     The  Company
                covenants that all  Warrant Shares which  may be issued  upon
                the exercise  of  the  purchase rights  represented  by  this
                Warrant  will,   upon  exercise   of  the   purchase   rights
                represented by  this  Warrant, be  duly  authorized,  validly
                issued, fully paid and nonassessable and free from all taxes,
                liens and charges in respect  of the issuance thereof  (other
                than   taxes   in   respect   of   any   transfer   occurring
                contemporaneously with such issuance).  The Company covenants
                that during the  period the Warrant  is outstanding, it  will
                reserve from  its  authorized  and unissued  Common  Stock  a
                sufficient number of  shares to provide  for the issuance  of
                the Warrant Shares upon the  exercise of any purchase  rights
                under this Warrant.  The  Company further covenants that  its
                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 necessary  certificates
                for the  Warrant Shares  upon the  exercise of  the  purchase
                rights under this Warrant.   The Company  will take all  such
                reasonable action as  may be  necessary to  assure that  such
                Warrant Shares  may  be  issued as  provided  herein  without
                violation of  any applicable  law or  regulation, or  of  any
                requirements of  the Trading  Market  upon which  the  Common
                Stock may be listed.

                     ii. Delivery    of    Certificates    Upon     Exercise.
                Certificates  for   shares  purchased   hereunder  shall   be
                transmitted by  the  transfer agent  of  the Company  to  the
                Holder by crediting the account of the Holder's prime  broker
                with  the  Depository  Trust  Company  through  its   Deposit
                Withdrawal Agent Commission ("DWAC") system if the Company is
                a participant in such system and  if the certificates may  be
                issued  without  a  restrictive  legend  in  accordance  with
                applicable federal securities laws, and otherwise by physical
                delivery to the address specified by the Holder in the Notice
                of Exercise within two (2) Business Days from the delivery to
                the Company of the Notice of Exercise Form, surrender of this
                Warrant and payment  of the aggregate  Exercise Price as  set
                forth above ("Warrant  Share Delivery Date").   This  Warrant
                shall be  deemed  to have  been  exercised on  the  date  the
                Exercise Price  is  received by  the  Company.   The  Warrant
                Shares shall be deemed to have been issued, and Holder or any
                other person  so  designated to  be  named therein  shall  be
                deemed to have become a holder  of record of such shares  for
                all purposes, as of the date  the Warrant has been  exercised
                by payment to the Company of the Exercise Price and all taxes
                required to  be  paid by  the  Holder, if  any,  pursuant  to
                Section 2(d)(vii) prior to the issuance of such shares,  have
                been paid.

                     iii. Delivery  of New Warrants  Upon Exercise.  If  this
                Warrant shall have been exercised in part, the Company shall,
                at the time  of delivery of  the certificate or  certificates
                representing Warrant Shares, deliver to Holder a new  Warrant
                evidencing the rights of  Holder to purchase the  unpurchased
                Warrant Shares called for by this Warrant, which new  Warrant
                shall in all other respects be identical with this Warrant.

                     iv. Rescission Rights.  If  the Company  fails to  cause
                its transfer agent to transmit to the Holder a certificate or
                certificates representing the Warrant Shares pursuant to this
                Section 2(d)(iv) by the Warrant Share Delivery Date, then the
                Holder will have the right to rescind such exercise.

                     v. Failure to Timely Deliver Certificates Upon Exercise.
                In addition to any other rights  available to the Holder,  if
                the Company or  the Company's transfer  agent fails to  cause
                delivery to  the  Holder  of a  certificate  or  certificates
                representing the  Warrant Shares  or if  the Company  or  its
                transfer agent fails to deliver such certificates without the
                restrictive legend (if applicable)  on or before the  Warrant
                Share Delivery Date, the Company  shall pay to Purchaser,  in
                cash, as partial liquidated damages and not as a penalty, the
                greater of (i) $500 for each  Business Day after the  Warrant
                Share Delivery Date until such certificate is delivered  with
                an appropriate legend or without a restrictive legend, as the
                case may be; and (ii) the  difference in the Market Value  of
                the Warrant Shares on the Warrant Share Delivery Date and the
                date  such  shares  are  actually  received  by  the  Holder.
                Nothing herein shall limit Purchaser's right to pursue actual
                damages for  the Company's  failure to  deliver  certificates
                representing any Securities as required herein, and Purchaser
                shall have the right to pursue  all remedies available to  it
                at law or in equity  including, without limitation, a  decree
                of specific performance and/or injunctive relief.

                     vi. No Fractional Shares or Scrip.  No fractional shares
                or scrip representing fractional shares shall be issued  upon
                the exercise of this Warrant.  As to any fraction of a  share
                which Holder  would otherwise  be entitled  to purchase  upon
                such exercise, the Company shall round such fractional  share
                up to the next whole number.

                     vii. Charges,   Taxes   and  Expenses.      Issuance  of
                certificates for Warrant Shares shall be made without  charge
                to the  Holder  for  any  issue  or  transfer  tax  or  other
                incidental  expense  in  respect  of  the  issuance  of  such
                certificate, all of which taxes and expenses shall be paid by
                the Company, and  such certificates  shall be  issued in  the
                name of  the  Holder or  in  such name  or  names as  may  be
                directed by the Holder; provided, however, that in the  event
                certificates for Warrant Shares  are to be  issued in a  name
                other  than  the  name  of  the  Holder,  this  Warrant  when
                surrendered  for  exercise  shall   be  accompanied  by   the
                Assignment Form attached hereto duly executed by the  Holder;
                and the  Company may  require, as  a condition  thereto,  the
                payment of a sum sufficient to reimburse it for any  transfer
                tax incidental thereto.

                     viii. Closing of  Books.  The Company will not close its
                stockholder books or records in any manner which prevents the
                timely exercise  of  this  Warrant,  pursuant  to  the  terms
                hereof.

      Section 3.     Certain Adjustments.

           a) Stock  Dividends and Splits. If the  Company, at any time while
      this Warrant is  outstanding: (A) pays  a stock  dividend or  otherwise
      make a distribution or distributions on  shares of its Common Stock  or
      any other equity or equity equivalent  securities payable in shares  of
      Common Stock  (which, for  avoidance of  doubt, shall  not include  any
      shares of Common Stock issued by the Company pursuant to this Warrant),
      (B) subdivides outstanding shares of Common Stock into a larger  number
      of shares,  (C) combines  (including by  way  of reverse  stock  split)
      outstanding shares of Common Stock into a smaller number of shares,  or
      (D) issues by reclassification of shares of the Common Stock any shares
      of capital stock of the Company,  then in each case the Exercise  Price
      shall be multiplied by a fraction  of which the numerator shall be  the
      number of shares of  Common Stock (excluding  treasury shares, if  any)
      outstanding before such event and of which the denominator shall be the
      number of shares of Common Stock  outstanding after such event and  the
      number of  shares  issuable upon  exercise  of this  Warrant  shall  be
      proportionately adjusted.  Any adjustment made pursuant to this Section
      3(a) shall become effective immediately after  the record date for  the
      determination of  stockholders entitled  to  receive such  dividend  or
      distribution and shall become effective immediately after the effective
      date in the case of a subdivision, combination or re-classification.

           b) Subsequent Equity  Sales. If the Company at any time while this
      Warrant is outstanding, shall offer, sell, grant any option to purchase
      or offer,  sell  or grant  any  right  to reprice  its  securities,  or
      otherwise  dispose  of  or issue  any  Common  Stock  or  Common  Stock
      Equivalents entitling any Person to acquire shares of Common Stock,  at
      an effective price per  share less than the  then Exercise Price  (such
      lower price, the "Base Share Price" and such issuances collectively,  a
      "Dilutive Issuance"),  as  adjusted hereunder  (if  the holder  of  the
      Common Stock or Common Stock Equivalents  so issued shall at any  time,
      whether by operation of  purchase price adjustments, reset  provisions,
      floating conversion, exercise or exchange  prices or otherwise, or  due
      to warrants, options or rights per share which is issued in  connection
      with such issuance, be entitled to receive shares of Common Stock at an
      effective price per share which is  less than the Exercise Price,  such
      issuance shall be deemed  to have occurred for  less than the  Exercise
      Price), then, the  Exercise Price shall  be reduced to  equal the  Base
      Share Price.  Such adjustment shall be made whenever such Common  Stock
      or Common Stock Equivalents are issued.   The Company shall notify  the
      Holder in  writing,  no  later than  the  Business  Day  following  the
      issuance of any  Common Stock or  Common Stock  Equivalents subject  to
      this section, indicating therein the  applicable issuance price, or  of
      applicable reset  price, exchange  price,  conversion price  and  other
      pricing  terms  (such  notice  the "Dilutive  Issuance  Notice").   For
      purposes of  clarification,  whether  or not  the  Company  provides  a
      Dilutive Issuance  Notice  pursuant  to this  Section  3(b),  upon  the
      occurrence of any Dilutive  Issuance, after the  date of such  Dilutive
      Issuance the Holder is entitled to  receive a number of Warrant  Shares
      based upon  the  Base Share  Price  regardless of  whether  the  Holder
      accurately refers to the Base Share Price in the Notice of Exercise.

           c) Pro  Rata Distributions.  If the Company,  at any time prior to
      the Termination Date, shall distribute to  all holders of Common  Stock
      (and not to Holders of the  Warrants) evidences of its indebtedness  or
      assets or rights or warrants to subscribe for or purchase any  security
      other than the Common Stock (which  shall be subject to Section  3(b)),
      then in  each  such  case  the Exercise  Price  shall  be  adjusted  by
      multiplying the  Exercise  Price in  effect  immediately prior  to  the
      record date fixed for determination of stockholders entitled to receive
      such distribution by a fraction of  which the denominator shall be  the
      closing bid price  of the Common  Stock on the  then principal  Trading
      Market determined as of the record date mentioned above (if the closing
      bid price of  the Common  Stock on  the then  principal Trading  Market
      shall then  be determinable  and otherwise  the fair  market value  per
      share as determined  by the Board  of Directors in  good faith, and  of
      which the numerator shall be such closing bid price of the Common Stock
      on the then principal Trading Market on such record date less the  then
      per share fair market value at such record date of the portion of  such
      assets or evidence  of indebtedness  so distributed  applicable to  one
      outstanding share of  the Common Stock  as determined by  the Board  of
      Directors in  good faith.   In  either case  the adjustments  shall  be
      described in a  statement provided  to the  Holders of  the portion  of
      assets or evidences of indebtedness so distributed or such subscription
      rights applicable to one share of Common Stock.  Such adjustment  shall
      be made  whenever  any  such distribution  is  made  and  shall  become
      effective immediately after the record date mentioned above.

           d) Fundamental Transaction.  If, at any time while this Warrant is
      outstanding, there  occurs a  Fundamental Transaction,  then, upon  any
      subsequent conversion of this Warrant, the Holder shall have the  right
      to receive, for each Warrant Share  that would have been issuable  upon
      such exercise absent such Fundamental Transaction, at the option of the
      Holder,  (a)  upon  exercise  of  this  Warrant,  the number  of shares
      of  Common  Stock  of  the successor  or  acquiring corporation  or  of
      the  Company,  if it  is  the  surviving  corporation,  and   Alternate
      Consideration receivable upon  or as a  result of such  reorganization,
      reclassification, merger, consolidation or  disposition of assets by  a
      Holder of the number of shares  of Common Stock for which this  Warrant
      is exercisable immediately prior to such event or (b) if the Company is
      acquired in an all  cash transaction, cash equal  to the value of  this
      Warrant as determined by the difference between the applicable Exercise
      Price and the amount of cash paid per share to the shareholders of  the
      Company (the  "Alternate Consideration").   For  purposes of  any  such
      exercise,  the   determination  of   the   Exercise  Price   shall   be
      appropriately adjusted to apply  to such Alternate Consideration  based
      on the amount  of Alternate Consideration  issuable in  respect of  one
      share of Common Stock in such Fundamental Transaction, and the  Company
      shall apportion the Exercise Price among the Alternate Consideration in
      a reasonable  manner reflecting  the relative  value of  any  different
      components of the Alternate Consideration.  If holders of Common  Stock
      are given  any choice  as to  the securities,  cash or  property to  be
      received in a Fundamental Transaction, then  the Holder shall be  given
      the same choice as to the Alternate Consideration it receives upon  any
      exercise of this  Warrant following such  Fundamental Transaction.   To
      the extent  necessary  to  effectuate  the  foregoing  provisions,  any
      successor to  the  Company  or surviving  entity  in  such  Fundamental
      Transaction shall issue to the Holder a new warrant consistent with the
      foregoing provisions and evidencing the Holder's right to exercise such
      warrant into  Alternate  Consideration.  The  terms  of  any  agreement
      pursuant to which a Fundamental  Transaction is effected shall  include
      terms requiring any such successor or  surviving entity to comply  with
      the provisions of this Section 3(d) and insuring that this Warrant  (or
      any such  replacement security)  will be  similarly adjusted  upon  any
      subsequent transaction analogous to a Fundamental Transaction.

           e) Exempt Issuance. Notwithstanding the foregoing, no adjustments,
      Alternate Consideration, nor  notices shall  be made,  paid, or  issued
      under this Section 3 in respect of an Exempt Issuance.

           f) Calculations.  All calculations under  this Section  3 shall be
      made to the nearest cent or the nearest 1/100th of a share, as the case
      may be. The number of shares  of Common Stock outstanding at any  given
      time shall not includes shares of Common Stock owned or held by or  for
      the account of the Company, and  the description of any such shares  of
      Common Stock shall  be considered on  issue or sale  of Common   Stock.
      For purposes of this  Section 3, the number  of shares of Common  Stock
      deemed to be issued and outstanding as of a given date shall be the sum
      of the number of shares of Common Stock (excluding treasury shares,  if
      any) issued and outstanding.

           g) Voluntary  Adjustment By Company.  The Company may  at any time
      during the term of this Warrant reduce the then current Exercise  Price
      to any amount  and for  any period of  time deemed  appropriate by  the
      Board of Directors of the Company.

           h) Intentionally Omitted.

           i) Notice to Holders.

                     i. Adjustment to Exercise Price.  Whenever the  Exercise
                Price is adjusted  pursuant to  this Section  3, the  Company
                shall promptly mail to each Holder a notice setting forth the
                Exercise Price  after such  adjustment  and setting  forth  a
                brief statement of  the facts requiring  such adjustment.  If
                the Company  issues a  variable  rate security,  the  Company
                shall be deemed to have issued  Common Stock or Common  Stock
                Equivalents at  the lowest  possible conversion  or  exercise
                price at which such securities may be converted or  exercised
                in the case of a Variable Rate Transaction (as defined in the
                Purchase Agreement), or the lowest possible adjustment  price
                in  the  case  of  an  MFN   Transaction.    The  term   "MFN
                Transaction" shall mean  a transaction in  which the  Company
                issues  or  sells  any   securities  in  a  capital   raising
                transaction or series of related transactions which grants to
                an investor the right to receive additional shares based upon
                future transactions of  the Company on  terms more  favorable
                than those granted to such investor in such offering.

                     ii. Notice  to  Allow  Exercise by  Holder.  If  (A) the
                Company shall declare a dividend (or any other  distribution)
                on the Common Stock; (B) the Company shall declare a  special
                nonrecurring cash dividend on or  a redemption of the  Common
                Stock; (C) the  Company shall authorize  the granting to  all
                holders of the Common Stock  rights or warrants to  subscribe
                for or purchase any shares of  capital stock of any class  or
                of any rights; (D)  the approval of  any stockholders of  the
                Company  shall   be   required   in   connection   with   any
                reclassification of the  Common Stock,  any consolidation  or
                merger to which the Company is a party, any sale or  transfer
                of all or substantially all of the assets of the Company,  of
                any compulsory  share exchange  whereby the  Common Stock  is
                converted into other  securities, cash or  property; (E)  the
                Company  shall   authorize  the   voluntary  or   involuntary
                dissolution, liquidation or winding up of the affairs of  the
                Company; then, in each  case, the Company  shall cause to  be
                mailed to the Holder at its  last address as it shall  appear
                upon the  Warrant  Register  of  the  Company,  at  least  20
                calendar days  prior to  the applicable  record or  effective
                date hereinafter specified, a notice stating (x) the date  on
                which a  record  is to  be  taken  for the  purpose  of  such
                dividend, distribution, redemption, rights or warrants, or if
                a record is not to be taken, the date as of which the holders
                of the  Common  Stock  of  record  to  be  entitled  to  such
                dividend, distributions, redemption,  rights or warrants  are
                to  be   determined   or  (y)   the   date  on   which   such
                reclassification, consolidation,  merger, sale,  transfer  or
                share exchange is expected to become effective or close,  and
                the date  as of  which it  is expected  that holders  of  the
                Common Stock of  record shall be  entitled to exchange  their
                shares of  the Common  Stock for  securities, cash  or  other
                property    deliverable    upon    such     reclassification,
                consolidation, merger,  sale,  transfer  or  share  exchange;
                provided, however that the failure to mail such notice or any
                defect therein or in the mailing thereof shall not affect the
                validity of the corporate action required to be specified  in
                such notice.  The Holder is entitled to exercise this Warrant
                during the 20-day period commencing  the date of such  notice
                to the effective date of the event triggering such notice.

      Section 4.     Transfer of Warrant.

           a) Transferability.   Subject to  compliance with  any  applicable
      securities laws and the conditions set forth in Sections 5(a) and  4(d)
      hereof and to the provisions of Section 4.1 of the Purchase  Agreement,
      this Warrant and all rights hereunder are transferable, in whole or  in
      part, upon surrender  of this Warrant  at the principal  office of  the
      Company,  together   with  a   written  assignment   of  this   Warrant
      substantially in the form attached hereto  duly executed by the  Holder
      or its agent or attorney and funds sufficient to pay any transfer taxes
      payable upon the making of such transfer.  Upon such surrender and,  if
      required, such payment,  the Company shall  execute and  deliver a  new
      Warrant or Warrants in the name of the assignee or assignees and in the
      denomination  or  denominations   specified  in   such  instrument   of
      assignment, and shall issue  to the assignor  a new Warrant  evidencing
      the portion of  this Warrant not  so assigned, and  this Warrant  shall
      promptly  be  cancelled.  A  Warrant,  if  properly  assigned,  may  be
      exercised by a new  holder for the purchase  of Warrant Shares  without
      having a new Warrant issued.

           b) New  Warrants. This  Warrant  may be  divided or  combined with
      other Warrants upon presentation hereof at the aforesaid office of  the
      Company, together  with  a  written notice  specifying  the  names  and
      denominations in which  new Warrants are  to be issued,  signed by  the
      Holder or its agent  or attorney.  Subject  to compliance with  Section
      4(a), as to  any transfer  which may be  involved in  such division  or
      combination, the Company  shall execute and  deliver a  new Warrant  or
      Warrants in  exchange for  the Warrant  or Warrants  to be  divided  or
      combined in accordance with such notice.

           c) Warrant Register. The Company shall register this Warrant, upon
      records to be maintained by the Company for that purpose (the  "Warrant
      Register"), in the name of the record Holder hereof from time to  time.
      The Company may deem and treat the registered Holder of this Warrant as
      the absolute owner hereof for the purpose of any exercise hereof or any
      distribution to the Holder, and for  all other purposes, absent  actual
      notice to the contrary.

           d) Transfer Restrictions. If, at the time of the surrender of this
      Warrant in connection with any transfer  of this Warrant, the  transfer
      of this  Warrant  shall not  be  registered pursuant  to  an  effective
      registration statement under  the Securities Act  and under  applicable
      state securities  or blue  sky  laws, the  Company  may require,  as  a
      condition of allowing such transfer (i)  that the Holder or  transferee
      of this Warrant, as the case may  be, furnish to the Company a  written
      opinion of counsel (which opinion shall be in form, substance and scope
      customary for opinions  of counsel in  comparable transactions) to  the
      effect that such transfer  may be made  without registration under  the
      Securities Act and under applicable state securities or blue sky  laws,
      (ii) that the holder or transferee  execute and deliver to the  Company
      an investment letter in  form and substance  acceptable to the  Company
      and (iii) that the transferee be an "accredited investor" as defined in
      Rule 501(a) of Regulation D promulgated  under the Securities Act or  a
      qualified institutional  buyer as  defined in  Rule 144A(a)  under  the
      Securities Act.

      Section 5.     Covenants.

           (a)  Negative Covenants. So long as any portion of this Warrant is
 outstanding, without the prior written consent of the Holder, which  consent
 may be withheld in the sole discretion  of the Holder, the Company will  not
 and will not permit any of its Subsidiaries to directly or indirectly:

                i.   Sale of  Assets,  Dissolution,  Etc.    Transfer,  sell,
           assign, lease or otherwise dispose of all or substantially all  of
           its properties or assets, or any assets or properties necessary or
           desirable for the  proper conduct  of its  business, or  transfer,
           sell, assign  or otherwise  dispose of  any  of its  accounts,  or
           contract rights to any person or  entity, or change the nature  of
           its business, wind-up, liquidate or dissolve,  or agree to any  of
           the foregoing, other than in the ordinary course of business;

                ii.  No Further  Issuance  of  Securities.    Other  than  in
           accordance herewith or with respect to an Exempt Issuance, create,
           issue or permit the issuance of  any additional securities of  the
           Company or of any of its  Subsidiaries (including with respect  to
           any Qualifying Transaction),  if any,  or any  rights, options  or
           warrants to acquire any  such securities; provided, however,  that
           in the  event  that  Company  desires  to  issue  securities  with
           preferences or rights greater than that which the Common Stock has
           and the Holder  consents to same,  the Holder will  then have  the
           option of converting all or any  part of this Debenture into  such
           stock in lieu of the Common Stock;;

                iii. Agreement.     Enter into any  agreement obligating  the
           Company to undertake any of the matters set forth in this  Section
           5(a).

           (b)  Affirmative Covenants.   So  long  as  any  portion  of  this
 Warrant is outstanding and unless the Holder otherwise consents in  writing,
 which consent may  be withheld  in the sole  discretion of  the Holder,  the
 Company will:

                i.   True Books.  Keep  true books of  record and account  in
           which full, true and  correct entries will be  made of all of  its
           dealings and  transactions,  and  set  aside  on  its  books  such
           reserves as may  be required by  GAAP, consistently applied,  with
           respect to  all taxes,  assessments,  charges, levies  and  claims
           referred to in  (a) above,  and with  respect to  its business  in
           general, and include such reserves in interim as well as  year-end
           financial statements; and

                ii.  Right of Inspection.   Permit any  person designated  by
           the Holder, at the Holder's expense,  to visit and inspect any  of
           the properties, books and financial reports of the Company, all at
           such reasonable times upon three (3) Business Days prior notice to
           the Company, and as  often as the  Holder may reasonably  request,
           provided the Holder does not unreasonably interfere with the daily
           operations of the  Company and Holder  executes a  confidentiality
           agreement.

      Section 6.     Miscellaneous.

           a) Title to Warrant.  Prior to the Termination Date and subject to
      compliance with applicable  laws and Section  4 of  this Warrant,  this
      Warrant and all rights hereunder are transferable, in whole or in part,
      at the office or agency of  the Company by the  Holder in person or  by
      duly authorized attorney, upon surrender of this Warrant together  with
      the Assignment Form annexed hereto  properly endorsed.  The  transferee
      shall sign  an  investment  letter in  form  and  substance  reasonably
      satisfactory to the Company.

           b) No Rights as Shareholder Until Exercise.  This Warrant does not
      entitle  the  Holder  to  any  voting  rights  or  other  rights  as  a
      shareholder of the  Company prior  to the  exercise hereof.   Upon  the
      surrender of this  Warrant and the  payment of  the aggregate  Exercise
      Price (or  by means  of a  cashless exercise),  the Warrant  Shares  so
      purchased shall be and  be deemed to  be issued to  such Holder as  the
      record owner of such shares as of the close of business on the later of
      the date of such surrender or payment.

           c) Loss, Theft,  Destruction or Mutilation of Warrant. The Company
      covenants that  upon  receipt by  the  Company of  evidence  reasonably
      satisfactory to it  of the loss,  theft, destruction  or mutilation  of
      this Warrant or any stock certificate  relating to the Warrant  Shares,
      and in case  of loss, theft  or destruction, of  indemnity or  security
      reasonably satisfactory to it (which, in the case of the Warrant, shall
      not  include  the  posting  of  any  bond),  and  upon  surrender   and
      cancellation of such  Warrant or stock  certificate, if mutilated,  the
      Company will make  and deliver a  new Warrant or  stock certificate  of
      like tenor and dated as of  such cancellation, in lieu of such  Warrant
      or stock certificate.

           d) Saturdays,  Sundays, Holidays, etc.   If the  last or appointed
      day for  the  taking of  any  action or  the  expiration of  any  right
      required or  granted herein  shall be  a Saturday,  Sunday or  a  legal
      holiday, then such action may be  taken or such right may be  exercised
      on the next succeeding day not a Saturday, Sunday or legal holiday.

           e) Authorized Shares.

           The Company  covenants  that  during the  period  the  Warrant  is
      outstanding, it will  reserve from its  authorized and unissued  Common
      Stock a sufficient number of shares to provide for the issuance of  the
      Warrant Shares  upon the  exercise of  any purchase  rights under  this
      Warrant.   The Company  further covenants  that  its 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
      necessary certificates for the Warrant Shares upon the exercise of  the
      purchase rights under  this Warrant.   The Company will  take all  such
      reasonable action  as may  be necessary  to  assure that  such  Warrant
      Shares may  be  issued as  provided  herein without  violation  of  any
      applicable law or  regulation, or of  any requirements  of the  Trading
      Market upon which the Common Stock may be listed.

           Except and to the extent as waived or consented to by the  Holder,
      the Company shall  not by  any action,  including, without  limitation,
      amending   its   certificate   of   incorporation   or   through    any
      reorganization, transfer of assets, consolidation, merger, dissolution,
      issue or sale  of securities or  any other voluntary  action, avoid  or
      seek to avoid the observance or performance of any of the terms of this
      Warrant, but will at all times in good faith assist in the carrying out
      of all such  terms and  in the taking  of all  such actions  as may  be
      necessary or appropriate to protect the  rights of Holder as set  forth
      in this Warrant against impairment.  Without limiting the generality of
      the foregoing, the Company will (a)  not increase the par value of  any
      Warrant Shares above  the amount  payable therefor  upon such  exercise
      immediately prior to  such increase  in par  value, (b)  take all  such
      action as may be necessary or appropriate in order that the Company may
      validly and legally issue fully  paid and nonassessable Warrant  Shares
      upon the exercise of this Warrant, and (c) use commercially  reasonable
      efforts to obtain all such authorizations, exemptions or consents  from
      any public  regulatory  body  having jurisdiction  thereof  as  may  be
      necessary to enable the Company to  perform its obligations under  this
      Warrant.

           Before taking any action  which would result  in an adjustment  in
      the number of Warrant Shares for  which this Warrant is exercisable  or
      in the Exercise Price, the Company shall obtain all such authorizations
      or exemptions thereof, or  consents thereto, as  may be necessary  from
      any public regulatory body or bodies having jurisdiction thereof.

           f) Jurisdiction.   All  questions   concerning  the  construction,
      validity, enforcement  and  interpretation  of this  Warrant  shall  be
      determined in accordance with the provisions of the Purchase Agreement.

           g) Restrictions.   The Holder acknowledges that the Warrant Shares
      acquired upon the  exercise of this  Warrant, if  not registered,  will
      have restrictions upon resale imposed  by state and federal  securities
      laws.

           h) Expenses.   If  the  Company willfully  and knowingly  fails to
      comply with  any  provision  of this  Warrant,  which  results  in  any
      material damages to the  Holder, the Company shall  pay to Holder  such
      amounts as  shall  be  sufficient  to  cover  any  costs  and  expenses
      including, but not  limited to, reasonable  attorneys' fees,  including
      those of appellate  proceedings, incurred by  Holder in collecting  any
      amounts due  pursuant  hereto or  in  otherwise enforcing  any  of  its
      rights, powers or remedies hereunder.

           i) Notices.   Any  notice, request  or other  document required or
      permitted to be given or delivered  to the Holder by the Company  shall
      be delivered in accordance with the  notice provisions of the  Purchase
      Agreement.

           j) Limitation  of Liability.  No  provision hereof, in the absence
      of any  affirmative  action  by Holder  to  exercise  this  Warrant  or
      purchase Warrant Shares,  and no enumeration  herein of  the rights  or
      privileges of Holder, shall  give rise to any  liability of Holder  for
      the purchase  price of  any Common  Stock or  as a  stockholder of  the
      Company, whether  such  liability is  asserted  by the  Company  or  by
      creditors of the Company.

           k) Remedies.   Holder, in  addition to being  entitled to exercise
      all rights  granted by  law, including  recovery  of damages,  will  be
      entitled to specific performance of its rights under this Warrant.  The
      Company agrees that monetary damages would not be adequate compensation
      for any loss incurred by reason of a breach by it of the provisions  of
      this Warrant and hereby agrees to  waive the defense in any action  for
      specific performance that a remedy at law would be adequate.

           l) Successors and Assigns.  Subject to applicable securities laws,
      this Warrant  and the  rights and  obligations evidenced  hereby  shall
      inure to  the benefit  of and  be binding  upon the  successors of  the
      Company  and  the  successors and  permitted  assigns  of  Holder.  The
      provisions of this Warrant  are intended to be  for the benefit of  all
      Holders from time to time of  this Warrant and shall be enforceable  by
      any such Holder or holder of Warrant Shares.

           m) Amendment and  Waiver.  This Warrant may be modified or amended
      only with the written consent of the Company and the Holder.  No course
      of dealing or any delay or  failure to exercise any right hereunder  on
      the part of Holder shall operate as a waiver of such right or otherwise
      prejudice Holder's rights, powers or remedies, notwithstanding the fact
      that all rights hereunder terminate on the Termination Date.

           n) Severability.    Wherever  possible,  each  provision  of  this
      Warrant shall be  interpreted in  such manner  as to  be effective  and
      valid under applicable law, but if any provision of this Warrant  shall
      be prohibited by or invalid under applicable law, such provision  shall
      be ineffective to the extent of such prohibition or invalidity, without
      invalidating  the  remainder  of  such  provisions  or  the   remaining
      provisions of this Warrant.

           o) Headings.    The headings  used  in  this Warrant  are  for the
      convenience of reference only and shall not, for any purpose, be deemed
      a part of this Warrant.

           p) Registration Rights. The Holder has certain rights with respect
      to the  registration  of  the Warrant  Shares  upon  exercise  of  this
      Warrant, such  rights  being specifically  set  forth in  the  Purchase
      Agreement entered into  by and between  Holder and the  Company on  the
      date hereof.

                           [Signature Page Follows]

      IN WITNESS WHEREOF, the Company has caused this Warrant to be  executed
 by its officer thereunto duly authorized as of the date first written above.

                                     RAPID LINK INCORPORATED.

                                     By:____________________________________
                                        Name:  John Jenkins
                                        Title: Chief Executive Officer

<PAGE>

                              NOTICE OF EXERCISE

 TO:  BPK RESOURCES, INC.

           (1)       The  undersigned  hereby  elects  to  purchase  ________
 Warrant Shares  of Rapid  Link Incorporated  pursuant to  the terms  of  the
 attached Warrant (only if exercised in  full), and tenders herewith  payment
 of the exercise price in full, together with all applicable transfer  taxes,
 if any.

           (2)       Payment shall take the form of (check applicable box):

                [ ] in lawful money of the United States; or

                [ ] the cancellation of such  number of Warrant Shares as  is
                necessary, in  accordance  with  the  formula  set  forth  in
                subsection 2(c), to exercise this Warrant with respect to the
                maximum number of Warrant Shares purchasable pursuant to  the
                cashless exercise procedure set forth in subsection 2(c).

           (3)       Please issue a certificate or certificates  representing
 said Warrant Shares in the name of the undersigned or in such other name  as
 is specified below:

                _______________________________

 The Warrant Shares shall be delivered to the following:

                _______________________________

                _______________________________

                _______________________________

           (4)  Accredited  Investor.  The  undersigned, and, if  applicable,
 the person or  entity identified in  subsection 3 above,  is an  "accredited
 investor" as defined in Regulation D promulgated under the Securities Act of
 1933, as amended.

 [SIGNATURE OF HOLDER]

 Name of Investing Entity: __________________________________________________
 Signature of Authorized Signatory of Investing Entity:______________________
 Name of Authorized Signatory: ______________________________________________
 Title of Authorized Signatory: _____________________________________________
 Date: ______________________________________________________________________

<PAGE>

                               ASSIGNMENT FORM

                  (To assign the foregoing warrant, execute
                  this form and supply required information.
                Do not use this form to exercise the warrant.)

           FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
 thereby are hereby assigned to

 _______________________________________________ whose address is

 _______________________________________________________________.

 ________________________________________________________________

                                 Dated:  ______________, ________

                Holder's Signature: _____________________________

                Holder's Address:   _____________________________

                                    _____________________________

 Signature Guaranteed:  _________________________________________

 NOTE:  The signature to this  Assignment Form must correspond with the  name
 as it appears on the face of the Warrant, without alteration or  enlargement
 or any change whatsoever, and must be guaranteed by a bank or trust company.
 Officers  of  corporations  and  those  acting  in  a  fiduciary  or   other
 representative capacity should file proper  evidence of authority to  assign
 the foregoing Warrant.EXHIBIT 4.4

                              SECURITY AGREEMENT

             This SECURITY  AGREEMENT,  dated  as  of  March  8,  2006  (this
 "Agreement"), is  entered  into  by and  among  RAPID  LINK  INCORPORATED  a
 Delaware  corporation  (the  "Debtor")  and the TRIDENT GROWTH FUND, L.P.  a
 California limited liability corporation,  (the "Secured Party"), the Holder
 of that certain 10% Secured Convertible Debenture due March 8, 2007 (or such
 earlier contingent  date as  set forth  therein) in  the original  aggregate
 principal amount  of $600,000  (the "Debenture"),  issued by  Debtor to  the
 Secured Party in connection with that certain Securities Purchase  Agreement
 of even date herewith entered into by and between the Debtor and the Secured
 Party (the "Purchase Agreement").

                             W I T N E S S E T H:

             WHEREAS, pursuant to the Debenture, the Secured Party has agreed
 to extend certain loans  described above to the  Debtor as evidenced by  the
 Debenture; and

             WHEREAS, in  order to  induce the  Secured Party  to extend  the
 loans evidenced  by the  Debenture, the  Debtor has  agreed to  execute  and
 deliver to the Secured Party this Agreement and to grant the Secured Party a
 perfected first priority security interest in all property of the Debtor not
 pledged as security to  the Global Capital Companies  as of the date  hereof
 (the "Global Capital Collateral") to secure the prompt payment,  performance
 and discharge  in  full  of  all  of  the  Debtor's  obligations  under  the
 Debenture.

             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.      Certain  Definitions. As  used  in this  Agreement,  the
 following terms shall have the meanings set forth in this Section 1.   Terms
 used but not otherwise defined in this Agreement that are defined in Article
 9 of  the Uniform  Commercial Code  (the "UCC")  shall have  the  respective
 meanings given such terms in Article 9 of the UCC, and capitalized terms not
 otherwise defined herein shall have the  meaning given them in the  Purchase
 Agreement.

           (a)   "Collateral"  means, other than with  respect to the  Global
      Capital Collateral, as such terms are  defined in Section 9.102 of  the
      UCC: all "collateral," "accounts," "chattel paper" (including, but  not
      limited to  tangible and  electronic chattel  paper), "commercial  tort
      claims,"  "commodity   contracts,"   "commodity   accounts,"   "deposit
      accounts,"  "documents,"  "equipment,"  "farm  products,"   "fixtures,"
      "general intangibles" (including "payment intangibles" and "software"),
      "goods,"   "health   care   insurance   receivables,"    "instruments,"
      "inventory,"  "investment   property,"  "letter   of  credit   rights,"
      "mortgages," and "records"  of the Debtor,  whether presently owned  or
      existing or  hereafter  acquired  or coming  into  existence,  and  all
      additions and accessions thereto and all substitutions and replacements
      thereof, and all "proceeds" (cash or noncash) (as defined in Article  9
      of the UCC) thereof, including,  without limitation, all proceeds  from
      the sale or transfer  of the Collateral and  of insurance covering  the
      same.  Without in any way limiting the generality of the foregoing,  if
      not already  included  in  the Collateral  described  above,  the  term
      "Collateral" shall  also  include, as  defined  in plain  English:  All
      machinery, equipment,  computers,  computer programs,  motor  vehicles,
      trucks, tanks, boats, ships, appliances, furniture, special and general
      tools, fixtures, test and quality  control devices and other  equipment
      of every  kind  and  nature and  wherever  situated,  contract  rights,
      partnership   interests,   stock   or   other   securities,   licenses,
      distribution and other agreements, computer software (whether "off-the-
      shelf", licensed from any third party or developed by Debtor)  computer
      software  development  rights,  leases,  franchises,  customer   lists,
      quality control procedures,  grants and  rights, goodwill,  trademarks,
      service marks, trade styles, trade names, patents, patent applications,
      copyrights, deposit  and investment  accounts and  income tax  refunds,
      insurance proceeds, and rights to refunds or indemnification whatsoever
      owing,  together  with   all  instruments,  all   documents  of   title
      representing any of  the foregoing,  all rights  in any  merchandising,
      goods, equipment, motor vehicles and trucks  which any of the same  may
      represent, and all right, title,  security and guaranties with  respect
      to same, including any  right of stoppage  in transit, business  papers
      together with all  documents of  title and  documents representing  the
      same, all additions and accessions thereto, replacements therefor,  all
      parts therefor, and all  substitutes for any of  the foregoing and  all
      other items used and useful in connection with the Debtor's  businesses
      and all improvements thereto.

           (b)   "Obligations"  means all of  the Debtor's obligations  under
      the Transaction  Documents,  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 increased, 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.

             2.    Grant of Perfected First Priority Security Interest. As an
 inducement for the  Secured Party  to extend the  loan as  evidenced by  the
 Debenture and to  secure the complete  and timely  payment, performance  and
 discharge in full, as the case may be, of all of the Obligations, the Debtor
 hereby unconditionally and irrevocably  pledges, grants and hypothecates  to
 the Secured  Party  a  continuing  and  perfected  first  priority  security
 interest in and to, a lien upon and a right of set-off against all of  their
 respective right, title and  interest of whatsoever kind  and nature in  and
 to, the Collateral other than with respect to the Global Capital Collateral,
 (the "Security Interest").

             3.    Representations,  Warranties, Covenants and Agreements  of
 the Debtor. The Debtor represents and warrants to, and covenants and  agrees
 with, the Secured Party as follows:

           (a)   The Debtor has  the requisite corporate power and  authority
      to enter into this Agreement and otherwise to carry out its obligations
      hereunder. The execution,  delivery and  performance by  the Debtor  of
      this Agreement  and the  filings contemplated  therein have  been  duly
      authorized by all  necessary action on  the part of  the Debtor and  no
      further action is required by the Debtor.

           (b)   The Debtor represents  and warrants that they have no  place
      of business  or offices  where their  respective books  of account  and
      records are  kept  (other  than  temporarily  at  the  offices  of  its
      attorneys or  accountants)  or places  where  Collateral is  stored  or
      located, except as set forth on Schedule A attached hereto.

           (c)   The Debtor is the  sole owner of the Collateral (except  for
      non-exclusive licenses granted by the Debtor in the ordinary course  of
      business),  free   and  clear   of  any   liens,  security   interests,
      encumbrances, rights or claims, and are  fully authorized to grant  the
      Security Interest in  and to pledge  the Collateral.   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
      will be filed in favor of the Secured Party pursuant to this Agreement)
      covering or affecting any of the Collateral.  So long as this Agreement
      shall be in effect,  Debtor 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).

           (d)   No  part  of  the Collateral  has  been  judged  invalid  or
      unenforceable. No written claim has  been received that any  Collateral
      or Debtor's use  of any  Collateral violates  the rights  of any  third
      party. There  has  been  no  adverse  decision  to  Debtor's  claim  of
      ownership rights in or  exclusive rights to use  the Collateral in  any
      jurisdiction or to Debtor's right to keep and maintain such  Collateral
      in full force and  effect, and there is  no Proceeding involving   said
      rights pending  or, to  the best  knowledge of  the Debtor,  threatened
      before any court, judicial  body, administrative or regulatory  agency,
      arbitrator or other governmental authority.

           (e)  The Debtor shall at  all times maintain its books of  account
      and records  relating  to the  Collateral  at its  principal  place  of
      business and its Collateral  at the locations set  forth on Schedule  A
      attached hereto and may not relocate such books of account and  records
      or tangible Collateral unless it delivers to the Secured Party at least
      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 appropriate  financing statements under the  UCC
      and other 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 a valid, perfected and continuing  perfected
      first priority lien in the Collateral.

           (f)   This Agreement creates in favor of the Secured Party a valid
      security  interest  in   the  Collateral  securing   the  payment   and
      performance of the Obligations and,  upon making the filings  described
      in the  immediately following  subsection, a  perfected first  priority
      security interest in such Collateral.

           (g)   The Debtor hereby authorizes the Secured Party to  file  one
      or more  financing  statements  under the  UCC,  with  respect  to  the
      Security Interest with the proper filing and recording agencies in  any
      jurisdiction deemed proper by them.

           (h)  The execution, delivery and performance of this Agreement  by
      the Debtor does not conflict with, or constitute a default (or an event
      that with  notice or  lapse of  time or  both would  become a  default)
      under,  or  give  to  others  any  rights  of  termination,  amendment,
      acceleration or cancellation (with or without notice, lapse of time  or
      both) of,  any agreement,  credit facility,  debt or  other  instrument
      (evidencing Debtor's debt or otherwise) or other understanding to which
      Debtor is a party or by  which any property or  asset of the Debtor  is
      bound or  affected. No  consent  (including, without  limitation,  from
      stockholders or creditors of the Debtor) is required for the Debtor  to
      enter into and perform its obligations hereunder.

           (i)  The Debtor shall at all times maintain the liens and Security
      Interest provided for hereunder as  valid and perfected first  priority
      liens and security interests in the Collateral in favor of the  Secured
      Party until this Agreement and the Security Interest hereunder shall be
      terminated pursuant to Section 11 hereof.  The Debtor hereby agrees  to
      defend the same against any and all persons. The Debtor shall safeguard
      and  protect  all Collateral for the account  of the Secured Party.  At
      the request of the Secured Party,  the Debtor will sign and deliver  to
      the Secured  Party  at any  time  or from  time  to time  one  or  more
      financing  statements   pursuant  to   the  UCC   in  form   reasonably
      satisfactory to the Secured Party and  will pay the cost of filing  the
      same in all  public offices  wherever filing is,  or is  deemed by  the
      Secured Party to be,  necessary or desirable to  effect the rights  and
      obligations provided for herein. Without limiting the generality of the
      foregoing, the  Debtor shall  pay all  fees,  taxes and  other  amounts
      necessary  to  maintain  the  Collateral  and  the  Security   Interest
      hereunder, and the Debtor 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.

           (j)  The Debtor will not transfer, pledge, hypothecate,  encumber,
      license (except for non-exclusive licenses granted  by a Debtor in  its
      ordinary  course  of  business  and  sales  of  "inventory"),  sell  or
      otherwise dispose of any of the  Collateral not in the ordinary  course
      of its business without the prior written consent of the Secured Party.

           (k)  The  Debtor  shall  keep   and  preserve   its   "equipment,"
      "inventory" and other tangible Collateral in good condition, repair and
      order and shall not operate or locate any such Collateral (or cause  to
      be operated or located) in any area excluded from insurance coverage.

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

            (m)    The  Debtor  shall promptly  execute  and deliver  to  the
      Secured Party  such  further deeds,  mortgages,  assignments,  security
      agreements,  financing  statements  or  other  instruments,  documents,
      certificates and assurances and take such further action as the Secured
      Party may from time to time request and may in its sole discretion deem
      necessary to perfect, protect or enforce  its security interest in  the
      Collateral including, without limitation, if applicable, the  execution
      and delivery  of a  separate security  agreement with  respect to  each
      Debtor's  intellectual   property  ("Intellectual   Property   Security
      Agreement") in  which the  Secured Party  has been  granted a  security
      interest hereunder, substantially in a  form acceptable to the  Secured
      Party, which Intellectual  Property Security Agreement,  other than  as
      stated therein, shall  be subject to  all of the  terms and  conditions
      hereof.

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

           (o)   The Debtor  shall 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
      Collateral.

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

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

           (r)   The  Debtor shall  at all times  preserve and  keep in  full
      force and effect its valid existence  and good standing and any  rights
      and franchises material to its business.

           (s)   The Debtor will not change its name, corporate structure, or
      identity, or add any new fictitious name unless it provides at least 30
      days prior written notice to the  Secured Party of such change and,  at
      the time  of  such  written  notification,  such  Debtor  provides  any
      financing statements  or  fixture  filings  necessary  to  perfect  and
      continue perfected  the  perfected  first  priority  Security  Interest
      granted and evidenced by this Agreement.

           (t)  The Debtor may not consign any of its "inventory" or sell any
      of its "inventory" on bill and hold, sale or return, sale on  approval,
      or other conditional terms of sale  without the consent of the  Secured
      Party which shall not be unreasonably withheld.

           (u)  The Debtor may not  relocate its chief executive office to  a
      new location  without  providing  30 days  prior  written  notification
      thereof to  the Secured  Party and  so long  as, at  the time  of  such
      written notification, the Debtor  provides any financing statements  or
      fixture filings necessary to perfect and continue the Security Interest
      granted and evidenced by this Agreement.

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

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

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

           (c)   The failure  by Debtor  to  observe  or perform  any of  its
      obligations hereunder for  five (5) days  after delivery  to Debtor  of
      notice of such failure by or on behalf of a Secured Party; or

           (d)   If any provision of this Agreement shall at any time for any
      reason  be  declared  to  be  null   and  void,  or  the  validity   or
      enforceability thereof shall  be contested by  Debtor, or a  Proceeding
      shall be commenced by Debtor, or  by any governmental authority  having
      jurisdiction over  Debtor,  seeking  to  establish  the  invalidity  or
      unenforceability thereof,  or Debtor  shall deny  that Debtor  has  any
      liability or obligation purported to be created under this Agreement.

             5.    Duty To Hold In Trust. Upon the occurrence of any Event of
 Default and at any  time thereafter, the Debtor  shall, upon receipt of  any
 revenue, income  or other  sums subject  to the  Security Interest,  whether
 payable pursuant to  the Debenture  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 the 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 Debenture, and the Secured Party shall have all the rights and  remedies
 of a secured  party under the  UCC.  Without  limitation, the Secured  Party
 shall have the following rights and powers:

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

           (b)    The  Secured Party  shall  have the  right to  operate  the
      business of the Debtor using the Collateral and shall have the right to
      assign, sell, lease or otherwise dispose of and deliver all or any part
      of the Collateral, 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 Debtor or  right
      of redemption of  a Debtor, which  are hereby expressly  waived.   Upon
      each such sale, lease, assignment or other transfer of Collateral,  the
      Secured Party may, unless prohibited by applicable law which cannot  be
      waived, purchase all  or any part  of the Collateral  being sold,  free
      from and  discharged of  all trusts,  claims, right  of redemption  and
      equities of the Debtor, which are hereby waived and released.

             7.    Applications of  Proceeds. The proceeds of any such  sale,
 lease or  other disposition  of the  Collateral 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
 Collateral, 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   Collateral,  and  then   to
 satisfaction of  the Obligations  to the  Secured Party  based on  its  then
 outstanding principal amount  of the Debenture,  and to the  payment of  any
 other amounts  required by  applicable law,  after which  the Secured  Party
 shall pay to the applicable Debtor any surplus proceeds. If, upon the  sale,
 license or other  disposition of the  Collateral, the  proceeds thereof  are
 insufficient to  pay all  amounts  to which  the  Secured Party  is  legally
 entitled, the  Debtor  will be  liable  for the  deficiency,  together  with
 interest thereon,  at  the  rate of  18%  per  annum or  the  lesser  amount
 permitted by applicable law (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 Debtor  waives  all  claims,
 damages  and  demands  against  the  Secured   Party  arising  out  of   the
 repossession, removal, retention or  sale of the  Collateral, unless due  to
 the gross negligence or willful misconduct of the Secured Party.

             8.       Costs  and  Expenses. The  Debtor  agrees  to  pay  all
 reasonable out-of-pocket  fees, costs  and expenses  incurred in  connection
 with any  filing  required  hereunder,  including  without  limitation,  any
 financing statements pursuant to  the UCC, continuation statements,  partial
 releases and/or termination  statements related thereto  or any expenses  of
 any searches reasonably  required by the  Secured Party.   The Debtor  shall
 also pay all other claims and charges which in the reasonable opinion of the
 Secured Party might prejudice, imperil or otherwise affect the Collateral or
 the Security Interest therein. The Debtor 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 Collateral, or  (iii)
 the exercise or enforcement of any of the rights of the Secured Party  under
 the Debenture. Until so paid, any  fees payable hereunder shall be added  to
 the principal amount of the Debenture and shall bear interest at the Default
 Rate.

             9.      Responsibility for  Collateral. The  Debtor assumes  all
 liabilities and responsibility  in connection with  all Collateral, and  the
 Obligations shall in no way be affected or diminished by reason of the loss,
 destruction, damage or theft of any of the Collateral or its  unavailability
 for any reason.

             10.    Security  Interest Absolute.  All rights  of the  Secured
 Party and all  Obligations of the  Debtor hereunder, shall  be absolute  and
 unconditional, irrespective of: (a) any  lack of validity or  enforceability
 of this Agreement, the Debenture 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  Debenture or any other agreement  entered
 into in  connection  with  the  foregoing;  (c)  any  exchange,  release  or
 nonperfection of  any of  the Collateral,  or any  release or  amendment  or
 waiver of or  consent to  departure from any  other collateral  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 Collateral;  or (e) any  other circumstance  which might  otherwise
 constitute any  legal or  equitable  defense available  to  a Debtor,  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  Debtor 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 Collateral 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  Debtor'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 Debtor waives all right to require the Secured Party to proceed  against
 any other person or to apply any Collateral which the Secured Party may hold
 at any time, or to marshal assets, or to pursue any other remedy. The Debtor
 waives any defense arising  by reason of the  application of the statute  of
 limitations to any obligation secured hereby.

             11.     Term  of Agreement.  This  Agreement  and  the  Security
 Interest shall  terminate  on the  date  on  which all  payments  under  the
 Debenture have  been made  in full  or  have been  satisfied and  all  other
 Obligations have been paid or discharged. Upon such termination, the Secured
 Party, at  the request  and at  the  expense of  the  Debtor, 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  Debtor authorizes  the Secured  Party, and  does  hereby
      make, constitute  and  appoint the  Secured  Party and  its  respective
      officers,  agents,   successors  or   assigns   with  full   power   of
      substitution, as the  Debtor's true and  lawful attorney-in-fact,  with
      power, in the name of  the Secured Party or  the Debtor, to, after  the
      occurrence and  during the  continuance of  an  Event of  Default,  (i)
      endorse any note, 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  Collateral  that  may  come  into
      possession of the Secured Party; (ii) to sign and endorse any financing
      statement pursuant to the UCC 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 Collateral;  (iii) to pay or  discharge
      taxes, liens,  security interests  or other  encumbrances at  any  time
      levied or  placed on  or threatened  against  the Collateral;  (iv)  to
      demand, collect, receipt for, compromise, settle and sue for monies due
      in respect of the Collateral; and  (v) generally, to do, at the  option
      of the Secured Party, and at the expense of the Debtor, at any time, or
      from time to  time, all acts  and things which  the Secured Party  deem
      necessary to protect, preserve and realize upon the Collateral and  the
      Security Interest granted therein in order to effect the intent of this
      Agreement and the Debenture all as fully and effectually as the  Debtor
      might or  could  do; and  the  Debtor  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  Debtor  will  make,  execute,
      acknowledge, deliver, file  and record, as  the case may  be, with  the
      proper filing and  recording agencies in  any jurisdiction,  including,
      without limitation, the jurisdictions indicated on Schedule B  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 perfected  security  interest  in  all  the
      Collateral under the UCC.

           (c) The Debtor  hereby irrevocably appoints  the Secured Party  as
      the Debtor's attorney-in-fact,  with full  authority in  the place  and
      instead of the Debtor and in the name of the Debtor, 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  Collateral
      without the signature of the Debtor where permitted by law.

             13.   Notices.   All   notices,   requests,  demands  and  other
 communications hereunder shall  be subject to  the notice  provision of  the
 Purchase Agreement.

             14.   Other Security. To the extent that the Obligations are now
 or hereafter  secured  by property  other  than  the Collateral  or  by  the
 guarantee, endorsement or  property of any  other Person,  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.   Best Efforts for  Licensed Collateral. Notwithstanding any
 other provision contained herein or any  of the Transaction Documents,  upon
 the occurrence of an  Event of Default, the  Debtor hereby agrees that  with
 respect to any part of the Collateral  which may require the consent of  any
 third party or third parties in  order for Debtor to transfer and/or  convey
 its interest in  and to  such Collateral  to the  Secured Party,  as may  be
 required in accordance  herewith, Debtor agrees  to and shall  use its  best
 efforts to obtain  such consents or  approvals in as  expedient a manner  as
 possible.

             16.  Miscellaneous.

           (a)    No course  of dealing between  the Debtor  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 Debenture 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  Collateral,  whether  established  hereby  or  by  the
      Debenture or by any  other agreements, instruments  or documents or  by
      law shall be cumulative and may be exercised singly or concurrently.

           (c)   This  Agreement  constitutes  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 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)   All  questions   concerning  the   construction,   validity,
      enforcement and interpretation of this  Agreement shall be governed  by
      and construed and enforced in accordance with the internal laws of  the
      State of Texas, without  regard to the principles  of conflicts of  law
      thereof.   Each  party  agrees  that  all  Proceedings  concerning  the
      interpretations,  enforcement   and   defense   of   the   transactions
      contemplated by  this  Agreement  and the  Debenture  (whether  brought
      against  a  party  hereto  or  its  respective  affiliates,  directors,
      officers,  shareholders,  employees  or  agents)  shall  be   commenced
      exclusively in the state and federal  courts sitting in Dallas,  Texas.
      Each  party  hereto  hereby   irrevocably  submits  to  the   exclusive
      jurisdiction of the state and federal  courts sitting in Dallas,  Texas
      for the adjudication of any dispute hereunder or in connection herewith
      or with any  transaction contemplated hereby  or discussed herein,  and
      hereby irrevocably waives, and agrees not to assert in any  Proceeding,
      any claim that it is not personally subject to the jurisdiction of  any
      such court,  or that  such Proceeding  is improper.  Each party  hereto
      hereby irrevocably waives personal service  of process and consents  to
      process being served in any such  Proceeding by mailing a copy  thereof
      via registered or certified mail  or overnight delivery (with  evidence
      of delivery) to such party at the  address in effect for notices to  it
      under this Agreement and agrees that such service shall constitute good
      and sufficient service of process and notice thereof. Nothing contained
      herein shall be deemed to limit in  any way any right to serve  process
      in any manner permitted by law.   Each party hereto hereby  irrevocably
      waives, to the fullest extent permitted by applicable law, any and  all
      right to  trial by  jury in  any  legal Proceeding  arising out  of  or
      relating to this Agreement or the transactions contemplated hereby.  If
      either party shall commence a Proceeding  to enforce any provisions  of
      this Agreement, then the prevailing party  in such Proceeding shall  be
      reimbursed by the  other party for  its reasonable  attorneys fees  and
      other costs and expenses  incurred with the investigation,  preparation
      and prosecution of such Proceeding.

           (i)      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.

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

 DEBTOR

 RAPID LINK INCORPORATED                 Address for Notice and Delivery:
                                         17383 Sunset Boulevard
                                         Suite 350
                                         Pacific Palisades,
                                         California  90272
                                         Telephone:  (310) 566-1700
                                         Facsimile:  (310) 573-9435
                                         Attn: John Jenkins, CEO

 By:____________________________________
    Name:  John Jenkins
    Title: Chief Executive Officer

 SECURED PARTY

 TRIDENT GROWTH FUND, L.P.               Address for Notice and Delivery:
 By:                                     700 Gemini
                                         Houston, TX 77058
                                         Telephone:  (281) 488-8484
                                         Facsimile:  (281) 488-5353

 By:

 By:____________________________________
    Name:
    Title:

<PAGE>

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

 Principal Place of Business of Debtor:
 -------------------------------------

 17383 Sunset Boulevard
 Suite 350
 Pacific Palisades, California  90272

 Locations Where Collateral is Located or Stored:
 -----------------------------------------------

 17383 Sunset Boulevard
 Suite 350
 Pacific Palisades, California  90272

 Internap C/O Rapidlinks
 76 9th Ave
 10th floor
 New York NY 10011

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                                  SCHEDULE B
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 State of Delaware

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