Document:

Exhibit 10.08

                              SETTLEMENT AGREEMENT

DATE:    July 7, 2004

                                  I.   PARTIES
                                       -------

Schimatic Cash Transactions Network.com, Inc. dba Smart Chip Technologies,
hereinafter "Company." and

Bernard F. McHale and B. McHale, Inc., hereinafter called "Mac,"

hereby enter into this Settlement Agreement, hereinafter "Agreement", effective
July 7, 2004.

                           II.   PURPOSE OF AGREEMENT

For the purpose of cleaning up the "stock overhang" of the Company, as dictated
by the Board of Directors, the Company and Mac agree to the following regarding
Stock, Stock Options and Bonuses.

                                III.   AGREEMENT

A.   The Company and Mac shall execute, simultaneously with this Agreement, a
     Contractor Agreement for two thousand five hundred dollars ($2,500) per
     month, paid as the Company's cash flow permits. If there is not enough to
     pay salaries, the Board of Directors will determine how salaries are paid.
     Mac hereby assigns the contract between himself and SCTN dated August 1,
     2002 to B. McHale, Inc. and SCTN hereby accepts such assignment. SCTN and
     B. McHale, Inc. hereby agree to extend the contract signed August 1, 2002,
     until February 19, 2004.

B.   The stock to be issued under the terms of this agreement will settle all
     prior agreements related to stock, stock options, and agreements to convert
     debts to stock .

C.   All stock will be issued effective the date of this agreement, but physical
     certificates representing that stock will not be printed and delivered to
     Mac until the shareholders meet and approve an increase to the limit of
     shares authorized.

D.   All references to converting unpaid salary or unpaid business expenses to
     stock or stock options in any previous agreements are void. There will be
     no conversion rights related to unpaid salaries.

E.   Mac agrees that he will not ask for any additional shares or options as
     compensation through the end of his Contractor Agreement.

F.   Mac agrees to convert his Secured Convertible Note of $910,000 plus
     interest to 9-30-2004 to stock under the same terms and conditions as the
     rest of the Secured Convertible Note holders.

<PAGE>

Bernard McHale Settlement Agreement (Cont.)                               Page 2
--------------------------------------------------------------------------------

G.   Mac and the Company agree to convert Mac's accrued salary from 8-01-2002
     through 2-19-2004 to 4,123,300 shares, per the terms of his previous
     consulting employment agreement.

H.   Mac will receive a performance bonus of 3,000,000 shares

                              X.   CONTROLLING LAW
                                   ---------------

The validity and construction of this agreement shall be governed by the laws of
the State of Utah without reference to the choice of law principles thereof and
the parties hereto consent to and agree that the courts of the State of Utah,
County of Salt Lake, shall be the jurisdiction and forum for the resolution of
all disputes related to this agreement or arising there from.

                             XI.   ENTIRE AGREEMENT
                                   ----------------

This Agreement constitutes the final understanding and agreement between the
parties. This Agreement cannot be amended or changed except by a writing signed
by both of the parties.

                                 XII.   NOTICES
                                        -------

Any notice required to be given or otherwise given pursuant to this Agreement
shall be in writing and shall be hand delivered, mailed by certified mail,
return receipt requested:

  If to Mac:                              if to Company:
         Bernard F. McHale                           Smart Chip Technologies
         330 E. Warm Springs Rd.,                    7190 South State St, #216
         Las Vegas, NV. 89119                        Midvale, Utah 84047

Subject to review by Kruse Landa, the method of recording these transactions may
be modified in conformance with the best interest of the Company, including tax
liability.

I HAVE READ THIS AGREEMENT IN ITS ENTIRETY, I UNDERSTAND ITS TERMS, AND AGREE TO
BE BOUND BY ALL OF ITS TERMS, INCLUDING THE PROVISION FOR BINDING ARBITRATION. I
ALSO UNDERSTAND I HAVE THE RIGHT TO HAVE THIS AGREEMENT REVIEWED BY INDEPENDENT
COUNSEL.

IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the
date first above writte.

<PAGE>

Bernard McHale Settlement Agreement (Cont.)                               Page 3
--------------------------------------------------------------------------------

Bernard F. McHale /s/ Bernard F. McHale
                  -------------------------------------------------

David Simon, Chairman Smart Chip Technologies /s/David Simon
                                              -------------------------------

Joseph Diamond, Director Smart Chip Technologies /s/ Joseph Diamond
                                                 ----------------------------Exhibit 10.09

            ADDENDUM 4 TO THE BEAVON EMPLOYMENT AGREEMENT OF 8-01-02

         The following are amendments to the Elaine Beavon Employment Agreement
with SCHIMATIC Cash Transactions Network.com, Inc. dba Smart Chip Technologies
("Company", "SCTN" or "Employer") effective 8-01-02 as amended by Addendums on
7-28-03, 5-05-2004 and July 7, 2004.

         This Addendum to the employment agreement is to be effective as of July
1, 2004.

         For the purpose of cleaning up the "financial and stock overhang" of
the Company, as dictated by the Board of Directors, the Company and Beavon agree
to the following regarding Salary and Expenses:

         1.     Under her employment agreement Elaine Beavon earned a salary
                of $7,000 per month, payable 60% per month and 40% deferred
                until the Company was able to pay. Beavon hereby gives up her
                right to the 40% deferred portion of that salary, reducing her
                monthly salary to $4,200, until the Company is financially
                liquid enough to permit a reasonable salary consistent with
                industry standards.

         2.     Beavon and the Company hereby agree that expense reimbursement
                payments made to Beavon through this date will be considered
                settlement in full of any and all business expenses paid by
                Beavon through June 30, 2004. Expenses incurred by Beavon from
                July 1, 2004 and thereafter will be reimbursed by the Company
                within 30 days from the date submitted, providing the Company
                is financially able to make the payment.

I HAVE READ THIS AGREEMENT IN ITS ENTIRETY, I UNDERSTAND ITS TERMS, AND AGREE TO
BE BOUND BY ALL OF ITS TERMS. I ALSO UNDERSTAND I HAVE THE RIGHT TO HAVE THIS
AGREEMENT REVIEWED BY INDEPENDENT COUNSEL.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on October
6, 2004.

Employer:                                                Employee:
SCTN                                                     Elaine Beavon
330 E. Warm Springs Rd.                                  2859 E. Wasatch Blvd.
Las Vegas, NV  89119                                     Sandy, UT  84092

  By: /s/ Bernard McHale                                 By:/s/ Elaine Beavon
      ------------------                                    -----------------
      Bernard McHale, Director                              Elaine Beavon

  By: /s/ Joseph E. Diamond
      ---------------------
      Joseph E. Diamond, Vice President and DirectorExhibit 10.10

             ADDENDUM 4 TO THE SIMON EMPLOYMENT AGREEMENT OF 8-01-02

         The following are amendments to the David Simon Employment Agreement
with SCHIMATIC Cash Transactions Network.com, Inc. dba Smart Chip Technologies
("Company", "SCTN" or "Employer") effective 8-01-02 as amended by Addendums on
7-28-03, 5-05-2004 and July 7, 2004.

         This Addendum to the employment agreement is to be effective as of July
1, 2004.

         For the purpose of cleaning up the "financial and stock overhang" of
the Company, as dictated by the Board of Directors, the Company and Simon agree
to the following regarding Salary and Expenses:

         1.     Under his employment agreement David Simon earned a salary of
                $12,500 per month, payable 60% per month and 40% deferred
                until the Company was able to pay. Simon hereby gives up his
                right to the 40% deferred portion of that salary, reducing his
                monthly salary to $7,500, until the Company is financially
                liquid enough to permit a reasonable salary consistent with
                industry standards.

         2.     Simon and the Company hereby agree that expense reimbursement
                payments made to Simon through this date will be considered
                settlement in full of any and all business expenses paid by
                Simon through June 30, 2004. Expenses incurred by Simon from
                July 1, 2004 and thereafter will be reimbursed by the Company
                within 30 days from the date submitted, providing the Company
                is financially able to make the payment.

I HAVE READ THIS AGREEMENT IN ITS ENTIRETY, I UNDERSTAND ITS TERMS, AND AGREE TO
BE BOUND BY ALL OF ITS TERMS. I ALSO UNDERSTAND I HAVE THE RIGHT TO HAVE THIS
AGREEMENT REVIEWED BY INDEPENDENT COUNSEL.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on October
6, 2004.

Employer:                                                Employee:
SCTN                                                     David Simon
330 E. Warm Springs Rd.                                  2859 E. Wasatch Blvd.
Las Vegas, NV  89119                                     Sandy, UT  84092

  By: /s/ Bernard McHale                                 By:/s/ David Simon
      ------------------                                    ---------------
      Bernard McHale, Director                              David Simon

  By: /s/ Joseph E. Diamond
      ---------------------
      Joseph E. Diamond, Vice President and Director

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