Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Playbox (US) Inc. - Exhibit 10.10

EXHIBIT 10.10

ASSET PURCHASE AGREEMENT

THIS AGREEMENT (together with the schedules attached hereto,
  this “Agreement”) dated as of March 31, 2006.

BETWEEN:

  
    
      
        PLAYBOX (US) INC. a company incorporated under
          the laws of State of Nevada and having a registered address at 10480
          Dattier, Court, Rancho Cordova, California 95670

        (herein called the “Buyer”)

      

    

  

AND:

  
    
      
        PLAYBOX INC. a company incorporated in the Republic
          of the Seychelles and having a registered office at 306 Victoria House,
          Mahe, Seychelles

        (herein called “Seller”)

      

    

  

WHEREAS:

The Buyer desires to purchase and acquire from the Seller and
  the Seller desires to sell and assign to the Buyer all of the Sellers rights,
  title and interest in and to all of the Intellectual Property and Permits required
  for the development, exploitation and use of the technology that consists of
  a web based music jukebox (interface) allowing users to manage/listen to music
  files and the online digital service provider, allowing artists and record labels
  to sell digital downloads via the web; which are both known by the name “PlayBOX”
  (collectively, the “Assets”) in exchange for shares
  of the Buyer.

The completion of the sale and purchase of the Assets is contingent
  on the concurrent completion of the purchase (the “Share Purchase”)
  whereby the Seller will acquire from Keydata Technology Partnership 1 LLP (“PlayBOX
  LLP”) all of the issued share capital of a limited company (“Holdco”)
  to be created by PlayBOX LLP for the purposes of allowing PlayBOX LLP to divest
  itself of the Assets;

The parties desire to enter into this Agreement to set forth
their mutual agreements concerning the above matter.

NOW, THEREFORE, in consideration of the sum of US$10.00, paid
by each party to the other, the receipt of which is mutually acknowledged and
the mutual promises of the parties hereto, and of good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, it
is mutually agreed by and between the parties hereto as follows:

ARTICLE 1

SALE AND TRANSFER OF ASSETS; CLOSING

1.1          
Sale of Asset Subject to the terms and conditions of this Agreement, and
in reliance upon the representations, warranties, covenants and agreements
contained herein, at the closing of the transactions contemplated hereby (the
“Closing”), the Seller will sell, convey, assign and transfer the Assets
to the Buyer, and the Buyer will purchase and acquire the Assets from the
Seller, free and clear of any claims or Encumbrances (as defined in Section 2.6)
.. The Assets shall include all of the Seller’s right, title and interest in and
to the following as at the Closing Date (as defined in Section 1.3 below):

                    (i)          
Intellectual Property. All rights in and to patents and patent
applications, registered or unregistered trademarks, service marks, and
trademark or service mark registrations and applications, trade names, logos,
designs, Internet domain names, slogans and general intangibles of like nature,
together with all goodwill relating to the foregoing, copyrights, copyright
registrations, renewals and applications, Software (as defined in Section
2.7(h), licenses, agreements and all other proprietary rights, which relate to
the use and exploitation of the Assets (collectively, the “Intellectual
Property”). Intellectual Property shall also include all technology and
proprietary information developed by any employee, consultant or agent of the
Seller during the course of their employment, consultancy or agency with the
Seller;

                    (ii)         
Permits and Licenses. All rights of the Seller with respect to permits,
approvals, orders, authorizations, consents, licenses, certificates and all
pending applications therefor (collectively, “Permits”), which have been
issued or granted to, or are owned or used by, the Seller in connection with the
ownership or use of the Assets;

          1.2          
Consideration. In consideration of the sale, transfer and assignment to
the Buyer of the Assets, at the Buyer shall issue and deliver to the Seller in
consideration for the issue to the Seller, on Closing, an aggregate of
10,000,000 common shares in the capital of the Buyer (the " Shares").

          1.3           The
Closing. The parties acknowledge and agree that:

          (a)           the
  Closing will take place contemporaneously with the completion of the Share Purchase
  subject to the satisfaction or waiver of the Closing conditions set forth in
  Articles 5 and 6 of this Agreement including, on or before April 30, 2006 (the
  “Closing Date”);

          (b)           the
  Seller has agreed with PlayBOX LLP that on Closing, the Seller will deliver
  10,000,000 common shares in the capital of the Buyer to PlayBOX LLP as consideration
  for the Share Purchase, and that conditional upon the execution and delivery
  by PlayBOX LLP to the Buyer of a Regulation S Investment Agreement, in a form
  acceptable to the Buyer, the Buyer will agree to a transfer of the Shares as
  satisfaction of the Share Purchase consideration, concurrently with the Closing.

          1.4           Closing
Obligations. At Closing, the Buyer and the Seller shall take the following
actions, in addition to such other actions as may otherwise be required under
this Agreement:

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          (a)           Conveyance
Instruments. The Seller shall deliver to the Buyer or its designee such
warranty deeds, bills of sale, assignments, and other instruments of conveyance
and transfer as the Buyer may reasonably request to effect the assignment to the
Buyer or its designee of the Assets.

          (b)          
  Consideration. The Buyer shall deliver to the Seller the Shares which
  Shares will be transferred by the Seller to PlayBOX LLP subject to the receipt
  by the Buyer of the investment agreement referred to in Section 1.3(b) of this
  Agreement.

          (c)          
Evidence of Ownership. The Seller shall deliver documentary evidence of
the Seller’s sole right, title and ownership interest in and to the Assets, such
evidence to be in a form satisfactory to the Buyer. 

          (d)          
Cancellation of Licenses The Seller shall deliver to the Buyer executed
copies the Agreements set forth in Article 6 of this Agreement.

ARTICLE 2

REPRESENTATIONS AND WARRANTIES OF THE SELLER

          To
induce the Buyer to execute, deliver and perform this Agreement, and in
acknowledgement of the Buyer’s reliance on the following representations and
warranties the Seller represents and warrants, with the Buyer as follows, as of
the date hereof and as of the Closing Date, unless otherwise specified,

          2.1          
Organization. The Seller is a corporation duly organized, validly
existing and in good standing under all applicable laws with the power and
authority to conduct its business as it is now being conducted and to own its
assets.

          2.2          
Power and Authority. The Seller has the power and authority to execute,
deliver, and perform this Agreement and the other agreements and instruments to
be executed and delivered by it in connection with the transactions contemplated
hereby, and the Seller has taken all necessary action to authorize the execution
and delivery of this Agreement and such other agreements and instruments and the
consummation of the transactions contemplated hereby, including but not limited
to the receipt of all necessary regulatory approvals including the approval of
the Seller's shareholders. This Agreement is, and the other agreements and
instruments to be executed and delivered by the Seller in connection with the
transactions contemplated hereby, when such other agreements and instruments are
executed and delivered, shall be, the valid and legally binding obligations of
the Seller enforceable against the Seller in accordance with their respective
terms.

          2.3           No
Conflict. Neither the execution and delivery of this Agreement and the other
agreements and instruments to be executed and delivered in connection with the
transactions contemplated hereby, nor the consummation of the transactions
contemplated hereby, will to the best of the Seller’s knowledge violate or
conflict with: (a) any foreign or local law, regulation, ordinance, governmental
restriction, order, judgment or decree applicable to the Seller; (b) any
provision of any charter, bylaw or other governing or organizational instrument
of the Seller; or (c) any mortgage, indenture, license, instrument, trust,
contract, agreement, or other commitment or arrangement to which the Seller is a
party or by which the Seller is bound.

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          2.4          
Required Consents. No Permit (as defined in Section 1.1(a)(iv)) or
approval, authorization, consent, permission, or waiver to or from any person,
or notice, filing, or recording to or with, any person is necessary for: (a) the
execution and delivery of this Agreement and the other agreements and
instruments to be executed and delivered by the Seller in connection with the
transactions contemplated hereby, or the consummation by the Seller of the
transactions contemplated hereby; or (b) the ownership and use of the Assets by
the Buyer.

          2.5          
Intellectual Property.

          (a)          
On Closing, the Seller will indirectly own and has the valid right to use all of
the Intellectual Property (as defined in Section 1.1(a)(ii)) comprised in the
Assets all of which is described on Schedule “A” attached hereto.

          (b)           On
Closing, the Intellectual Property will be free and clear of all Encumbrances or
other restrictions on transfer, including but not limited to a fixed and
floating charge over the Assets (the “Security”) held by MFC Merchant
Bank SA.

          (c)           On
Closing, there will be no pending or threatened opposition, interference or
cancellation proceeding before any court or registration authority in any
jurisdiction against such registrations or against any Intellectual Property
licensed to the Seller pursuant to the License Agreements (as defined in the
next paragraph).

          (d)           Schedule
"B" attached hereto sets forth a complete and accurate list of all agreements
pertaining to the use of, or granting any right to use or practice any rights
under, any Intellectual Property (collectively, the “License
Agreements”). Except as set forth in Schedule "B", there are no settlements,
consents, judgments, or orders or other agreements which restrict any of rights
to use any Intellectual Property or permit third parties to use any Intellectual
Property which would otherwise infringe any of the Seller’s Intellectual
Property.

          (e)          
To the best of the Seller’s knowledge, no third party is misappropriating,
infringing, diluting, or violating any Intellectual Property owned by, assigned
or licensed to the Seller, and no such claims are pending against a third party
by the Seller;

          (f)          
Schedule "C" attached hereto lists all Software currently or previously owned,
licensed, sublicensed, assigned, leased, sold to or by or otherwise used by the
Seller, and identifies which is owned, licensed, sublicensed, assigned, leased,
sold or otherwise used, as the case may be. “Software” means any and all
(i) computer programs, including any and all software implementations of
algorithms, models and methodologies, whether in source code or object code or
otherwise, (ii) computer databases and computer compilations, including any and
all data and collections of data, whether machine readable or otherwise, (iii)
subsequent error corrections or updates relating to any of the foregoing, (iv)
descriptions, flow-charts and other work product used to design, plan, organize
and develop any of the foregoing, (v) Internet domain names and the technology
supporting and content contained on the respective Internet site(s), and (vi)
all end-user and programmer documentation, including user manuals and training
materials, relating to any of the foregoing;

          (g)          
On Closing, each item of Software listed in Schedule "C" will either be: (i)
owned by the Seller, (ii) currently in the public domain or otherwise available
to the Seller without the license, lease or consent of any third party, or (iii)
used under rights granted to the Seller pursuant to a written agreement,
assignment, license or lease from a third party, which written 

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agreement, license or lease is listed in Schedule "C". The
Seller’s use of the Software set forth in Schedule "C" does not violate the
rights of any third party. With respect to the Software set forth in Schedule
"C" which the Seller purports to own, such Software was either: (x) developed by
employees of the Seller within the scope of their employment; (y) developed by
independent contractors who have assigned their rights to the Seller pursuant to
written agreements; or (z) acquired by the Seller from third parties; and

          (h)           except
for any open-source software code set out in Schedule “C” made available to the
owner of the Assets under a free and assignable license, which the Seller will,
on Closing, will be entitled to so utilize under a license it holds from a third
party that is assignable to the Buyer, the Software does not incorporate codes
other than those developed by the Seller or its employees or consultants who
developed such codes under work for hire agreements with the Seller.

          2.6          
Investor Representations. The Seller acknowledge and agree that the
Shares will be offered and sold without such offers and sales being registered
under the United States Securities Act of 1933, as amended (the “Securities
Act”) and will be issued to the Seller in accordance with Rule 903 of
Regulation S of the Securities Act in an “offshore transaction” within the
meaning of Regulation S based on the representations and warranties of the
Seller in this Agreement. As such, the Seller further acknowledges and agrees
that all Shares will, upon issuance, be “restricted securities” within the
meaning of the Securities Act.

          2.7           Agreement
  Regarding Resale. The Seller agrees to (i) resell the Shares only in accordance
  with the provisions of Regulation S of the Securities Act, pursuant to registration
  under the Securities Act, or pursuant to an available exemption from registration
  pursuant to the Securities Act, and otherwise in accordance with all applicable
  state securities laws and the laws of any other jurisdiction.; and (ii) other
  than the proposed transfer of the Shares to PlayBOX LLP, not to distribute,
  sell, transfer or divest itself of the Shares to its limited partners or otherwise
  until the earlier of June 30, 2005 and such time as the Buyer has become a reporting
  issuer in the United States of America by effecting a registration of its shares
  pursuant to the United States Securities and Exchange Act of 1934, as amended.
  The Seller further agrees that the Buyer may require the opinion of legal counsel
  reasonably acceptable to the Buyer in the event of any offer, sale, pledge or
  transfer of any of the Shares by the Seller pursuant to an exemption from registration
  under the Securities Act; 

          2.8           Prohibition
Against Hedging Transactions. The Seller agrees not to engage in hedging
transactions with regard to the Shares unless in compliance with the Securities
Act.

          2.9          
Right of Company to Refuse Transfer. The Seller agrees that the Buyer
will refuse to register any transfer of the Shares not made in accordance with
the provisions of Regulation S of the Securities Act, pursuant to registration
under the Securities Act, pursuant to an available exemption from registration,
or otherwise pursuant to this Agreement. 

          2.10         
No Obligation to Register. The Seller acknowledges that the Buyer has not
agreed and has no obligation to register the resale of the Shares under the
Securities Act.

          2.11         
Share Certificates. The Seller acknowledges and agrees that all
certificates representing the Shares will be endorsed with the following legend
in accordance with Regulation S of the Securities Act or such similar legend as
deemed advisable by legal counsel 

5

for the Buyer to ensure compliance with Regulation S of the
Securities Act and to reflect the status of the Shares as restricted securities:

“THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE
"ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT. SUCH
SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN
EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM
REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT”.

          2.12          Issuance
of Shares The Seller represents and warrants to the Buyer as follows, and
acknowledges that the Buyer is relying upon such covenants, representations and
warranties in connection with the issue of the Shares to the Seller:

          (a)           the
Seller is not a “U.S. Person” as defined by Regulation S of the Securities Act
and is not acquiring the Shares for the account or benefit of a U.S. Person;

          (b)          
the Seller was not in the United States at the time the offer to purchase the
Shares was received or this Agreement was executed; 

          (c)           the
Seller has such knowledge, sophistication and experience in business and
financial matters such that it is capable of evaluating the merits and risks of
the investment in the Shares. The Seller has evaluated the merits and risks of
an investment in the Shares. The Seller can bear the economic risk of this
investment, and is able to afford a complete loss of this investment;

          (d)           the
Seller acknowledges that the Buyer is in the early stages of development of its
business and the Buyer’s success is subject to a number of significant risks,
including the risk that the Buyer will not be able to finance its plan of
operations. The Seller further acknowledges that (i) the Buyer has limited cash
and working capital, (ii) the Buyer will have to raise additional capital in
order to finance its plan of operations which capital may be raised by the issue
of additional shares of its common stock which will result in dilution to the
Seller, and (iii) the Buyer has no arrangements for any financing in place and
there is no assurance that any financing will be completed;

          (e)          
the Seller has been afforded access to information about the Buyer and the
Buyer’s financial condition, results of operations, business, properties,
management and prospects sufficient it to evaluate its investment in the Shares.
The Seller further represents that it has had an opportunity to ask questions
and receive answers from representatives of the Buyer regarding the business,
properties, prospects and financial condition of the Buyer, each as is necessary
to evaluate the merits and risks of investing in the Shares. The Seller believes
it has received all the information it considers necessary or appropriate for
deciding whether to purchase the Shares. The Seller has had full opportunity to
discuss this information with the Seller’s legal and financial advisers prior to
execution of this Agreement;

          (f)          
the Seller acknowledges that the Buyer will rely on these representations in
completing the issuance of the Shares to the Seller; and

6

          (g)           the
Seller acknowledges that the offering of the Shares by the Buyer has not been
reviewed by the United States Securities and Exchange Commission or any state
securities regulatory authority.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES OF BUYER

          To
induce the Seller to execute, deliver and perform this Agreement, and in
acknowledgement of Seller’s reliance on the following representations and
warranties, the Buyer hereby represents and warrants to the Seller as follows as
of the date hereof and as of the Closing Date:

          3.1          
Organization. The Buyer is a corporation duly incorporated, validly
existing and in good standing under the laws of the State of Nevada, with the
power and authority to conduct its business as it is now being conducted and to
own and lease its properties and assets.

          3.2          
Power and Authority. The Buyer has the power and authority to execute,
deliver, and perform this Agreement and the other agreements and instruments to
be executed and delivered by it in connection with the transactions contemplated
hereby, and the Buyer has taken all necessary action to authorize the execution
and delivery of this Agreement and such other agreements and instruments and the
consummation of the transactions contemplated hereby. This Agreement is, and,
when such other agreements and instruments are executed and delivered, the other
agreements and instruments to be executed and delivered by the Buyer in
connection with the transactions contemplated hereby shall be, the valid and
legally binding obligations of the Buyer, enforceable in accordance with their
respective terms.

          3.3          
Broker’s or Finder’s Fees. The Buyer has not authorized any person to act
as broker, finder, or in any other similar capacity in connection with the
transactions contemplated by this Agreement.

          3.4          
No Conflict. Neither the execution and delivery by the Buyer of this
Agreement and of the other agreements and instruments to be executed and
delivered by the Buyer in connection with the transactions contemplated hereby
or thereby, nor the consummation by the Buyer of the transactions contemplated
hereby, will violate or conflict with: (a) any foreign or local law, regulation,
ordinance, governmental restriction, order, judgment or decree applicable to the
Buyer; or (b) any provision of any charter, bylaw, or other governing or
organizational instrument of the Buyer.

          3.5          
Truth at Closing. All of the representations, warranties, and agreements
of the Buyer contained in this Agreement shall be true and correct and in full
force and effect on and as of the Closing Date.

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ARTICLE 4

COVENANTS OF THE SELLER PRIOR TO CLOSING

          4.1           Required
Approvals. As promptly as practicable after the Closing, the Seller shall
make all filings required by foreign or local law to be made by them in order to
consummate the transactions contemplated hereby. The Seller shall (a) cooperate
with the Buyer with respect to all filings that the Buyer elects to make or is
required by law to make in connection with the transactions contemplated hereby,
and (b) cooperate with the Buyer in obtaining any consents of the type described
in Sections 2.4 and 2.5.

     4.2           Prohibited
Actions. In no event, without the prior written consent of the Buyer, shall
the Seller:

          (a)           permit
any of the Assets to be subjected to any claim or Encumbrance;

          (b)           waive
any claims or rights of substantial value respecting the Assets, or sell,
transfer, or otherwise dispose of any of the Assets, except in the ordinary
course of business and consistent with past practice; or

          (c)           dispose
of, license, or permit to lapse any rights in any Intellectual Property;

          4.3          
Access. From the date of this Agreement to the Closing Date, the Seller
shall: (a) provide the Buyer with such information and access as the Buyer may
from time to time reasonably request to the Assets.

          4.4          
Non-Solicitation. Until the completion or termination of the transactions
contemplated by this Agreement, the Seller shall not, nor shall any of its
representatives, solicit, offer or encourage any sale of any of the Assets.

ARTICLE 5

CONDITIONS TO THE SELLER’S OBLIGATIONS

          Each
of the obligations of the Seller to be performed hereunder shall be subject to
the satisfaction (or waiver by the Seller) at or prior to the Closing Date of
each of the following conditions:

          5.1          
Representations and Warranties; Performance. The Buyer shall have
performed and complied in all respects with the covenants and agreements
contained in this Agreement required to be performed and complied with by it at
or prior to the Closing Date, the representations and warranties of the Buyer
set forth in this Agreement shall be true and correct in all respects as of the
date hereof and as of the Closing Date as though made at and as of the Closing
Date (except as otherwise expressly contemplated by this Agreement), and the
execution and delivery of this Agreement by the Buyer and the consummation of
the transactions contemplated hereby shall have been duly and validly authorized
by the Buyer’s Board of Directors, and the Seller shall have received a
certificate to that effect signed by the secretary of the Buyer.

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          5.2          
Litigation. No Litigation shall be threatened or pending against the
Buyer or the Seller that, in the reasonable opinion of counsel for the Seller,
could result in the restraint or prohibition of any such party, or the obtaining
of damages or other relief from such party, in connection with this Agreement or
the consummation of the transactions contemplated hereby.

          5.3          
Documents Satisfactory in Form and Substance. All agreements,
certificates, and other documents delivered by the Buyer to the Seller hereunder
shall be in form and substance satisfactory to counsel for the Seller, in the
exercise of such counsel’s reasonable judgment.

          5.4          
  Completion of Share Purchase. The Seller and PlayBOX LLP shall have completed
  the Share Purchase, other than the transfer of the Shares to PlayBOX LLP, such
  that the Seller is, on Closing, the owner of the Assets.

ARTICLE 6

CONDITIONS TO THE BUYER’S OBLIGATIONS

          Each
of the obligations of the Buyer to be performed hereunder shall be subject to
the satisfaction (or the waiver by the Buyer) at or prior to the Closing Date of
each of the following conditions:

          6.1          
Representations and Warranties; Performance. The Seller shall have
performed and complied in all respects with the covenants and agreements
contained in this Agreement required to be performed and complied with by them
at or prior to the Closing Date, the representations and warranties of the
Seller set forth in this Agreement shall be true and correct in all respects as
of the date hereof and as of the Closing Date as though made at and as of the
Closing Date (except as otherwise expressly contemplated by this Agreement), and
the execution and delivery of this Agreement by the Seller and the consummation
of the transactions contemplated hereby shall have been duly and validly
authorized by the Seller’s Board of Directors, and the Buyer shall have received
a certificate to that effect signed by the secretary of the Buyer.

          6.2           Consents.
All required approvals, consents and authorizations shall have been
obtained.

          6.3          
No Litigation. No Litigation shall be threatened or pending against the
Buyer or the Seller that, in the reasonable opinion of counsel for the Buyer,
could result in the restraint or prohibition of any such party, or the obtaining
of damages or other relief from such party, in connection with this Agreement or
the consummation of the transactions contemplated hereby.

          6.4          
Due Diligence. The Buyer shall have completed its due diligence review of
the Assets and shall have been satisfied with the findings thereof.

          6.5          
Proof of Ownership of Assets. The Seller shall have delivered to the
Buyer documentary evidence of the Seller’s sole right, title and ownership
interest in and to the Assets, such evidence to be in a form satisfactory to the
Buyer in the Buyer’s sole discretion. 

9

          6.6          
Cancellation of Licenses The Seller shall provide the Buyer with proof of
termination of all licenses and other rights of use of the Assets by providing
to the Buyer fully executed Termination and Release Agreements for each of the
License Agreements.

          6.7          
Cancellation of Security The Seller shall provide the Buyer with proof of
the release of the Security held by MFC Merchant Bank SA over the Assets.

          6.8          
  Completion of Share Purchase. The Seller and PlayBOX LLP shall have completed
  the Share Purchase such that the Seller is the sole shareholder of Holdco as
  at the Closing Date.

ARTICLE 7

COVENANTS OF THE SELLER AND THE BUYER FOLLOWING
CLOSING

          7.1          
Allocation of Purchase Price; Transfer Taxes.

          (a)           Consistent
with applicable tax rules, the Buyer shall allocate the Purchase Price to the
Assets. The Buyer shall prepare and file, in a timely fashion, forms in a manner
consistent with such allocation with the relevant tax authority. All tax returns
and reports filed or prepared by the Buyer and/or the Seller with respect to the
transactions contemplated by this Agreement shall be consistent with the
allocation made by the Buyer under this Section 7.1(a) . 

          (b)           All
sales, transfer, and similar taxes and fees (including all recording fees, if
any) incurred in connection with this Agreement and the transactions
contemplated hereby shall be borne by the Seller and the Seller shall file all
necessary documentation with respect to such taxes.

          7.2           Further
Assurances. Subject to the terms and conditions of this Agreement, each
party agrees to use all of its reasonable efforts to take, or cause to be taken,
all actions and to do or cause to be done, all things necessary and proper or
advisable to consummate and make effective the transactions contemplated by this
Agreement (including the execution and delivery of such further instruments and
documents) as the other party may reasonably request.

          7.3          
Nondisclosure of Proprietary Data. The Parties shall hold in a fiduciary
capacity for the benefit of each other all secret or confidential information,
knowledge or data relating to the each other or any of their affiliated
companies, and their respective businesses, which shall not be or become public
knowledge. Neither Party, without the prior written consent of the other, or as
may otherwise be required by law or legal process, shall communicate or divulge
either before or after the Closing Date any such information, knowledge or data
to anyone other than the other Party and those designated by the other Party in
writing.

ARTICLE 8

SURVIVAL AND INDEMNITY

          8.1          
Survival of Representations, Warranties, etc. Each of the
representations, warranties, agreements, covenants and obligations herein is
material and shall be deemed to have been relied upon by the other party or
parties and shall survive indefinitely after the date hereof and after the
Closing and shall not merge in the performance of any obligation by any 

10

party hereto. All rights to indemnification contained in this
Agreement shall survive the Closing indefinitely.

          8.2          
Indemnification by the Seller and Buyer. The parties shall indemnify,
defend, and hold harmless each other, and the each others representatives,
stockholders, controlling persons and affiliates, at, and at any time after, the
Closing, from and against any and all demands, claim, actions, or causes of
action, assessments, losses, damages (including incidental and consequential
damages), liabilities, costs, and expenses, including reasonable fees and
expenses of counsel, other expenses of investigation, handling, and Litigation
(as defined in Section 2.13), and settlement amounts, together with interest and
penalties (collectively, a “Loss” or “Losses”), asserted against,
resulting to, imposed upon, or incurred by the either party, directly or
indirectly, by reason of, resulting from, or arising in connection with: (i) any
breach of any representation, warranty, or agreement of either party contained
in or made pursuant to this Agreement, including the agreements and other
instruments contemplated hereby; (ii) any breach of any representation,
warranty, or agreement of either party contained in or made pursuant to this
Agreement, including the agreements and other instruments contemplated hereby,
as if such representation or warranty were made on and as of the Closing Date;
(iii) any claim by any person for brokerage or finder’s fees or commissions or
similar payments based upon any agreement or understanding alleged to have been
made by any such person with either party in connection this Agreement or any of
the transactions contemplated hereby; and (iv) to the extent not covered by the
foregoing, any and all demands, claims, actions or causes of action,
assessments, losses, damages, liabilities, costs, and expenses, including
reasonable fees and expenses of counsel, other expenses of investigation,
handling, and Litigation and settlement amounts, together with interest and
penalties, incident to the foregoing.

          The
remedies provided in this Section 8.2 will not be exclusive of or limit any
other remedies that may be available to the either party to this Agreement.

ARTICLE 9

TERMINATION

          9.1          
Termination. This Agreement may be terminated at any time prior to the
Closing Date:

          (a)           by
mutual written consent of the Seller and the Buyer;

          (b)           by
either the Seller or the Buyer if (i) there shall have been a material breach of
any representation, warranty, covenant or agreement set forth in this Agreement,
on the part of the Buyer, in the case of a termination by the Seller, or on the
part of the Seller, in the case of a termination by the Buyer, which breach
shall not have been cured, in the case of a representation or warranty, prior to
Closing or, in the case of a covenant or agreement, within ten (10) business
days following receipt by the breaching party of notice of such breach, or (ii)
any permanent injunction or other order of a court or other competent authority
preventing the consummation of the transactions contemplated hereby shall have
become final and non-appealable; or

          (c)           by
  either the Seller or the Buyer if the transactions contemplated hereby shall
  not have been consummated on or before April 30, 2006; provided, however,
  that the right to 

11

terminate this Agreement pursuant to this Section 9.1(c) shall
not be available to any party whose failure to fulfill any obligation under this
Agreement has been the cause of, or resulted in, the failure of the consummation
of the transactions contemplated hereby to have occurred on or before the
aforesaid date.

          9.2          
Effect of Termination. Each party’s right of termination under Section
9.1 is in addition to any other rights it may have under this Agreement or
otherwise, and the exercise of a right of termination will not be an election of
remedies. If this Agreement is terminated pursuant to Section 9.1, unless
otherwise specified in this Agreement, all further obligations of the parties
under this Agreement will terminate; provided, however, that if
this Agreement is terminated by a party because of the breach of this Agreement
by the other party or because one or more of the conditions to the terminating
party’s obligations under this Agreement is not satisfied as a result of the
other party’s failure to comply with its obligations under this Agreement, the
terminating party’s rights to pursue all legal remedies will survive such
termination unimpaired. 

ARTICLE 10

MISCELLANEOUS

          10.1           Entire
Agreement. This Agreement, and the other certificates, agreements, and other
instruments to be executed and delivered by the parties in connection with the
transactions contemplated hereby, constitute the sole understanding of the
parties with respect to the subject matter hereof and supersede all prior oral
or written agreements with respect to the subject matter hereof.

          10.2          
Parties Bound by Agreement; Successors and Assigns. The terms,
conditions, and obligations of this Agreement shall inure to the benefit of and
be binding upon the parties hereto and their respective successors and
assigns.

          10.3           Amendments
and Waivers. No modification, termination, extension, renewal or waiver of
any provision of this Agreement shall be binding upon a party unless made in
writing and signed by such party. A waiver on one occasion shall not be
construed as a waiver of any right on any future occasion. No delay or omission
by a party in exercising any of its rights hereunder shall operate as a waiver
of such rights.

          10.4          
Severability. If for any reason any term or provision of this Agreement
is held to be invalid or unenforceable, all other valid terms and provisions
hereof shall remain in full force and effect, and all of the terms and
provisions of this Agreement shall be deemed to be severable in nature. If for
any reason any term or provision containing a restriction set forth herein is
held to cover an area or to be for a length of time which is unreasonable, or in
any other way is construed to be too broad or to any extent invalid, such term
or provision shall not be determined to be null, void and of no effect, but to
the extent the same is or would be valid or enforceable under applicable law,
any court of competent jurisdiction shall construe and interpret or reform this
Agreement to provide for a restriction having the maximum enforceable area, time
period and other provisions (not greater than those contained herein) as shall
be valid and enforceable under applicable law.

          10.5          
Attorney’s Fees. Should any party hereto retain counsel for the purpose
of enforcing, or preventing the breach of, any provision hereof including, but
not limited to, the 

12

institution of any action or proceeding, whether by
arbitration, judicial or quasi-judicial action or otherwise, to enforce any
provision hereof or for damages for any alleged breach of any provision hereof,
or for a declaration of such party’s rights or obligations hereunder, then,
whether such matter is settled by negotiation, or by arbitration or judicial
determination, the prevailing party shall be entitled to be reimbursed by the
losing party for all costs and expenses incurred thereby, including, but not
limited to, reasonable attorneys’ fees for the services rendered to such
prevailing party.

          10.6          
Counterparts. This Agreement may be executed in one or more counterparts,
each of which shall for all purposes be deemed to be an original and all of
which shall constitute the same instrument.

          10.7          
Headings. The headings of the sections and paragraphs of this Agreement
are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction hereof.

          10.8          
Expenses. Except as specifically provided herein, the Seller and the
Buyer shall each pay all costs and expenses incurred by it or on its behalf in
connection with this Agreement and the transactions contemplated hereby,
including fees and expenses of its own financial consultants, accountants, and
counsel.

          10.9          
Notices. All notices, requests, demands, claims, and other communications
which are required or may be given under this Agreement shall be in writing and
shall be deemed to have been duly given five business days after such notice,
request, demand, claim or other communication is sent, if sent by registered or
certified mail, return receipt requested, postage prepaid; and, in any case, all
such communications must be addressed to the intended recipient at the address
set forth on the first page of this Agreement. Any party may send any notice,
request, demand, claim, or other communication hereunder to the intended
recipient at the address set forth above using any other means, but no such
notice, request, demand, claim, or other communication shall be deemed to have
been duly given unless and until it actually is received by the intended
recipient. Any party may change the address to which notices, requests, demands,
claims, and other communications hereunder are to be delivered by giving the
other party notice in the manner herein set forth.

          10.10         
Governing Law. This Agreement shall be construed in accordance with and
governed by the laws of the State of Nevada without giving effect to the
principles of choice of law thereof.

          10.11         
Arbitration. Any dispute arising under or in connection with any matter
related to this Agreement or any related agreement shall be resolved exclusively
by arbitration. The arbitration shall be in conformity with and subject to the
applicable rules and procedures of the American Arbitration Association. All
parties agree to be (1) subject to the jurisdiction and venue of the arbitration
in the State of Nevada, (2) bound by the decision of the arbitrator as the final
decision with respect to the dispute and (3) subject to the jurisdiction of the
Superior Court of the State of Nevada for the purpose of confirmation and
enforcement of any award.

          10.12         
References, etc.

13

          (a)           Whenever
reference is made in this Agreement to any Article, Section, or paragraph, such
reference shall be deemed to apply to the specified Article, Section or
paragraph of this Agreement.

          (b)           Wherever
reference is made in this Agreement to a Schedule, such reference shall be
deemed to apply to the specified Schedule attached hereto, which are
incorporated into this Agreement and form a part hereof. All terms defined in
this Agreement shall have the same meaning in the Schedules attached hereto.

          (c)           Any
form of the word “include” when used herein is not intended to be exclusive
(e.g., “including” means “including, without limitation”).

          10.13         
No Strict Construction. The language used in this Agreement will be
deemed to be the language chosen by the parties hereto to express their mutual
intent, and no rule of strict construction will be applied against any
person.

          10.14         
No Third Party Beneficiary Rights. No provision in this Agreement is
intended or shall create any rights with respect to the subject matter of this
Agreement in any third party.

          10.15         
Such Other Acts. The parties hereto shall do all things, take such acts
and execute such documents as are necessary to give effect to the intention
herein contemplated.

          10.16         
Electronic Means. Delivery of an executed copy of this Agreement by
electronic facsimile transmission or other means of electronic communication
capable of producing a printed copy will be deemed to be execution and delivery
of this Agreement as of the date first indicated above.

IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed on its behalf as of the date first indicated above.

	 	PLAYBOX (US) INC. 
	 		  
	 		
	 	By: 	/s/ "Robert Burden" 
	 		Name: Robert Burden
	 		Title: Director 
	 		  
	 		  
	 	PLAYBOX INC. 
	 		  
	 		
	 	By: 	/s/ "Malcolm Nickerson" 
	 		Name: Malcolm Nickerson for OCMS Ltd. 
	 		Title: Director 

14

SCHEDULE A

INTELLECTUAL PROPERTY

Trade Marks

There is no trademark associated with the Assets. 

Patent Applications

The is no patent application associated with the Assets 

Internet Domain Names

There is no Internet domain name associated with the Assets.

Copyright

The Owned Software described in Schedule “C” below.

15

SCHEDULE B

LICENSING AGREEMENTS

License Agreements

	   	•   	 Non-exclusive License Agreement
          dated September 12, 2003 between PlayBOX Inc. and HBI Sales Private
          Limited for the licensing for exploitation of the Assets, 

	 	  	
              

	   	•   	 Non-exclusive License Agreement
          dated September 12, 2003 between PlayBOX Inc. and Zacan Holdings Proprietary
          Limited for the licensing for exploitation of the Assets, 

	 	  	
              

	   	•   	 Non-exclusive License Agreement
          dated September 12, 2003 between PlayBOX Inc. and ICT/Europetec Limited
          for the licensing for exploitation of the Assets, 

	 	  	
              

	   	•   	 Non-exclusive License Agreement
          dated September 12, 2003 between PlayBOX Inc. and Mir Technologies LLC
          for the licensing for exploitation of the Assets, 

	 	  	
              

	     	•     	 Agency Exploitation Agreement
          dated March 30, 2004 among PlayBOX Media Limited, HBI Sales Private
          Limited, Zacan Holdings Proprietary Limited, ICT/Europetec Limited and
          Mir Technologies LLC       

Licensed Software

See Licensed Software set forth in Schedule “C” below.

16

SCHEDULE C 

SOFTWARE 

Owned Software

	1) 	 PLAYBOX ONLINE MUSIC APPLICATION

	 	 
	2) 	 PLAYBOX ONLINE MUSIC JUKEBOX (Version 4.7)

1) PLAYBOX ONLINE MUSIC APPLICATION 

              
  I. Overview: 

PlayBOX offers a combination of dynamic interfaces along with
  services to supplement these interfaces aimed at the niche market consisting
  of unsigned music artists and small to medium-sized record labels. Our online
  solution allows these customers to sell their music and related products online
  either from our website or through their website should they have one, provides
  a complete range of supplemental services such as hosting, streaming, e-commerce
  and digital rights management. PlayBOX pools these services together to offer
  a cost-effective and professional platform for the promotion and sales of their
  music catalogues. 

PlayBOX offers three different specialised interfaces, each of
  which can be visually tailored to each client’s specifications. The interfaces
  can be linked to the client’s own website or hosted on our own servers.

a) White Label Interface

Our White Label interface is targeted towards unsigned artists
  looking for a simple and cost-effective way to: 

	
    Establish an online presence with little technical knowledge, enabling
      the client to upload their own content, personalise their interface and
      use real time tracking and download information provide by the PlayBOX application
    

  
	
    Stream their songs to listeners, either by a 30-second sample stream or
      a full stream of the song at either high or low speed to enable users to
      play all or part of a song with any type of Internet connection 

  
	
    Offer users a free promotional download of their music 

  
	
    Sell their songs online, including billing and e-commerce support for secure
      payments using debit and credit cards 

  
	
    Build their fan base by interacting by e-mail directly with listeners who
      set up a personal account page on our website allowing an artist to provide
      interested listeners with information on upcoming events and news releases
    

  

Pricing of the White Label interface depends on the number of
  tracks uploaded by the client and the functionality required of the interface.
  For example, if the client intends to use the interface only for marketing and
  not sales, e-commerce support services will not be required. 

The following screenshot is from a White Label interface set-up
  for Equal Records, a Swedish based record label PlayBOX subscriber.

17

b) Aggregator Interface 

Smaller record labels wishing to promote their artists and make
  their music catalogues available for purchase or streaming online frequently
  do not have the resources available in-house to set-up and manage it. The PlayBOX
  Aggregator interface allows such labels to create and manage an interactive
  online download store for music catalogues of between 50 and 1,000 songs, complete
  with e-commerce, tracking, reporting and billing functions. The Aggregator interface
  is image-driven and offers music fans the opportunity to visually search through
  each clients music catalogues by artist, track or album image in addition to
  a regular search function. 

The Aggregator interface can be integrated into either the client’s
  website or work as a complete stand-alone website served up to the client’s
  specified domain name. Our web designers can work with the client to create
  a visually appealing environment for their interface that enhances the client’s
  current marketing, complete with advertising, promotions and links to other
  websites. This customized environment is then integrated with PlayBOX’s
  back-end services (such as e-commerce and digital rights management) to create
  a seamless online marketing and sales tool which the client is free to manage
  as they choose. PlayBOX also offers management services for this interface should
  the client choose not to manage their site themselves. 

Additional features of the Aggregator interface are: 

	
    A secure payment facility allowing users to purchase downloadable versions
      of music tracks 

  
	
    The ability to capture user details through membership opt-in, allowing
      the aggregator to create a database of users and giving the user their own
      account page 

  
	
    The ability to offer a sample of the artists track as a ringtone for users
      to download to their mobile phones 

  
	
    An artist only area where artists can interact with each other and upload
      their latest demo/promo for their peers to comment on 

  
	
    An online forum where registered users can interact 

  

Pricing of the Aggregator interface depends is quoted on a per
  client basis in relation to the number of hours of development time required
  to satisfy each client’s particular needs.

The following image is a screenshot of our Aggregator interface,
  produced for our client Worldbeatz.com. 

18

c) Bespoke Interfaces 

PlayBOX’s team of experienced website developers and designers
  can create an interface to handle a range of specialized client requests. For
  example, PlayBOX recently created an interface for a music upload competition
  sponsored by one of its clients, The Little Bazaar. This interface allows registered
  music artists to upload their latest songs to the interface once per month.
  Downloaded songs are tracked by the interface and listed on a “Top 20”
  chart. The artists with the most downloaded tracks during that month became
  eligible to win a number of prizes sponsored by The Little Bazaar and PlayBOX.
  Each winner’s songs are displayed on the website, and users have the option
  to listen or download the songs. Winners from previous months are listed in
  a winners archive.

The following image is a screenshot of the bespoke interface
  that was developed for The Little Bazaar by PlayBOX. 

The Little Bazaar music upload competition is one example of
  the flexibility and functionality of our bespoke interface. Other examples of
  possible bespoke interfaces include comprehensive chart listings, hard copy
  music or video sales, and websites incorporating elements from our White Label
  and Aggregator interfaces.

19

For a high level system overview please see the picture bellow:

              
  II. Hardware: 

Generally the software is capable on running on a regular PC
  compatible hardware. 

Hardware dimensioning as follows: 

	
    IBM PC Compatible server based on Xeron or Opteron CPU 

  
	
    1GB of RAM 

  
	
    For required HDD space, please see sizing 

  
	
    HDD partitioning/failover/performance 

  
	
    Linux system installed into separated HDD with mirror 

  
	
    MySQL db installed into separated HDD with mirror 

  
	
    Media files installed into separated unit of HDD RAID5 

  
	
    100MB Full Duplex Network card 

  

              
  III. Software 

Minimum list of software products installed at the server: 

  OS Linux of relevant distribution, stable version (Fedora Core mentioned in
  the document) 

  MySQL, stable 4.1. X 

  Apache web server 2.0.52 or newer 

20

PHP server scripting language 4.3. X (Fedora Core 3 includes
  it) 

              
  IV. System Boundaries 

Boundary of each system involved in PlayBOX solution shall be
  defined, as well as interfaces and communication.

     I.       
  PlayBOX system 

  Physically PlayBOX system runs on a single server environment. HW and SW configurations
  are listed above. 

     II.      
  Streaming provider server – IFDNRG Digital Rights Management Interface
  

  It consists of a single or multiple physical entities providing the facility
  for DRM management. Relevant PlayBOX database table is made accessible to the
  streaming provider script, which controls if appropriate payment has been received.
  In case of positive result, the key shall be generated and sent to the user.
  DRM management (content creation and key generation) is the responsibility of
  the streaming provider. 

     III.     
  Payment provider – Barclaycard ePDQ 

  PlayBOX will use Cardholder Payment Interface towards payment provider. For
  detailed description of interface see relevant Barclay’s documents. 

              
  V. IFDNRG Digital Rights Management Interface Integration 

Communication between PlayBOX and IFDNRG is done via ODBC interface.
  Process can be described as follows: 

21

	 	1) 	 Licence server gets request for licence issue from user

	 	2) 	 Licence server runs query above table inside PlayBOX
        to check if payment was done correctly.

	 	3) 	 Query contains: TrackID, PlayBOX username, track password
        (emailed to the user)

	 	4) 	 If match is found payment flag is checked (If=1 then
        payment OK). If not, check is unsuccessful and licence is not issued.

	 	5) 	 In case of successful check, licence is issued.

	 	6) 	 When licence is issued, the PlayBOX table is updated
        and appropriate date and time is written into the table.

              
  VI. Integration Between PlayBOX and Barclaycard ePDQ 

Interface was developed according to Barclaycards specifications.

              
  VII. Sizing 

Media files 

  In order to give you idea about space required by media files, two scenarios
  bellow are provided: 

  	
 Mid size scenario 	File Size 
 MB 	White Label Package 1 
	White Label Package 2 
	White Label Package 3 
	Aggregator Package 1 
	Aggregator Package 2 

	Number of clients 	  	20 	20 	10 	5 	5 
	  	  	Number of tracks 	Size 	Number of tracks 	Size 	Number of tracks 	Size 	Number of tracks 	Size 	Number of tracks 
	High Stream 	5 	20 	2000 	20 	2000 	  	  	500 	12500 	  
	Low Stream 	3 	20 	1200 	20 	1200 	  	  	500 	7500 	  
	30 second sample 	3 	  	  	  	  	20 	600 	  	0 	500 
	Free Download 	7,5 	15 	2250 	15 	2250 	15 	1125 	300 	11250 	300 
	Paid For Download 	8,4 	  	  	  	  	20 	1680 	500 	21000 	500 
	TOTAL (GB) 	  	  	5,45 	  	5,45 	  	3,405 	  	52,25 	  
	Grand TOTAL (GB) 	106,305 	  	  	  	  	  	  	  	  	  

  	
 Worst case scenario 	File Size 
 MB 	White Label Package 1 
	White Label Package 2 
	White Label Package 3 
	Aggregator Package 1 
	Aggregator Package 2 

	Number of clients 	  	0 	50 	0 	10 	0 
	  	  	Number of tracks 	Size 	Number of tracks 	Size 	Number of tracks 	Size 	Number of tracks 	Size 	Number of tracks 
	High Stream 	5 	20 	         0 	20 	5000 	  	  	500 	25000 	  
	Low Stream 	3 	20 	         0 	20 	3000 	  	  	500 	15000 	  
	30 second sample 	3 	  	  	  	  	             
                     20 	0 	  	  	500 
	Free Download 	7,5 	20 	         0 	20 	7500 	             
                     20 	0 	500 	37500 	500 
	Paid For Download 	8,4 	  	  	  	  	             
                     20 	0 	500 	42000 	500 
	TOTAL (GB) 	  	  	         0 	  	15,5 	  	0 	  	119,5 	  
	Grand TOTAL (GB) 	135 	  	  	  	  	  	  	  	  	  

Database 

The size of the database needed to ensure PlayBOX will be able
  to grow its client and user base, were based on the following estimates: 

	Table with the highest number of records should be “basket”. Approximately
    500.000 purchases are made per aggregator per 1⁄2 year (roughly 83.000
    per month).
  
	Both cases assume 10 aggregators, which leads to the 830.000 records per
    month.
  
	Assume, that system will propose to store last 5 baskets for users, which
    guarantee only one month history. Regular dump of db will be provided to each
    content provider every sixth month.

    This leads us to the following calculation: 830.000 x 6 + (830.000) = 5.810.000
    records. Calculation assumed that the last month of the period is not dumped
    (1 month history guaranteed).
  
	Let’s predict that the average value of processed shopping baskets
    for white labels is 1000 per month per white label. The calculation will look
    like: 50x 1000 x6 +50.000 = 350.000 records 

TOTAL estimated number of records in “basket” table
  is: 350.000 + 5.810.000 = 6.160.000 records. 

22

              
  VIII. Database Design 

The following schematic is a breakdown of the PlayBOX database
  architecture and structure of tables. 

23

              
  IX. PlayBOX File System 

24

All music files (download and streaming) and picture files are
  stored inside the PlayBOX machine in structure of folders. This structure shall
  be easily readable by a human and therefore name of file/folder will copy the
  name of appropriate database field.

This structure is future-proof, because it enables storage of
  the same song multiple times (if more than one music format support will be
  required). 

PlayBOX will support this file structure itself and puts the
  files into proper places (it creates the folder hierarchy for user).

In order to allow maximum maintenance flexibility Admin PlayBOX
  is able to configure storage place (by means of mount point) for every single
  content provider. It can be used if new customer (aggregator) enters the system
  and media volume does not have enough free capacity. The administrator can plug
  a new HDD into system and use new HDD just for this particular customer immediately.

              
  X. Security 

The System provides security at the required level for online
  transactions. PlayBOX have included a support for SSL (Secure Socket Layer)
  and HTTPS into the PlayBOX application code. Technology mentioned above enables
  establishing encrypted channel between client and PlayBOX when client logs-in.

Play BOX has purchase the Entrust SSL Certificate (See http://www.entrust.com)

A breakdown of the security certificate as follows: 

	Browser Coverage >99%
  
	128-bit Security
  
	WebTrust Certification
  
	Rapid Issuance & Status
  
	30 Day Re-issue Guarantee
  
	Rapid Revocation 

              
  XI. Image Content 

PlayBOX is handling different categories of images which are
  served up into the relevant client interface. Examples of these images are:
  track image, artist image, album image, advertising/promotional images. In order
  to assure picture consistency, system validates image size during upload phase.
  Images with incorrect size are not allowed to enter PlayBOX. Supported image
  formats are: GIF, JPG and PNG. 

              
  XII. Streaming 

Streaming functionality is based on submitting MP3 playlist to
  the client (M3U file). Streaming of single track and albums are supported. Following
  players were tested: 

Windows Media Player (version 10) 

  RealPlayer (version 10) 

  WinAMP (version 5.0.8c) 

  ITUNES (version 4.7.1.30) 

Linux: 

  XMMS (version 1.2.10) 

25

Since all streaming content is available to anyone, no security
  measures are applied. 

               XIII.
  Functionality Breakdown 

User roles overview 

	Currently the following user roles are identified:
  
	Visitor (V)
  
	User (U)
  
	Administrator – White Label (A-WL)
  
	Administrator – Aggregator (A-Ag)
  
	Administrator – PlayBOX (A-PB) 

User roles detail description

  For details about functionalities available to each user role, please see
  attached table – functional matrix. 

	Visitor (V) - General Internet surfer without registration is considered
    as a visitor. Visitors are coming to the PlayBOX pages via the link from the
    aggregators and white labels web sites.
  
	User (U) - Visitor becomes a user when the registration process (data collection
    information) is passed and after he logs-in by using its username and password.
    Please note that user details will be stored at the PlayBOX. Data of user
    can be changed only by: A-PB, relevant A-Ag and User themselves.
  
	Administrator - White Label (A-WL) - Anyone can fill a request for white
    label authorization available at the myPlayBOX.com website. Request is then
    handed over to the PlayBOX

    Administrator (A – PB) who has to process it and create the appropriate
    account. The role of the white label admin is to support all necessary admin
    tasks without PlayBOX administrator getting involved. Please note that white
    label admin functionality is limited comparing to the aggregator admin.
  
	Administrator – Aggregator (A-Ag), anyone can fill a request for aggregator
    authorization available at the myPlayBOX.com website. Request is then handed
    over to the PlayBOX

    Administrator (A – PB) who has to process it and create the appropriate
    account. The role of the aggregator admin is to support all the necessary
    admin tasks without PlayBOX administrator getting involved. Comparing to the
    white label, the aggregator admin interface is more comfortable with additional
    features.
  
	Administrator – PlayBOX (A-PB) this is the super administrator of the
    overall PlayBOX solution. This account is created during solution installation
    and has access to the same features of the all previously mentioned administrators
    (A-Ag, A-WL) plus extra functionality for managing the site and white label
    and aggregator administrators. 

Track upload – Administrator experience

  Content provider must enter at least a minimum amount of information in
  PlayBOX via its interface (at least track name or album and track name structure).
  This will create the desired ID in the PlayBOX database. 

The content provider sends music to the PlayBOX administrator
  (A-PB). A-PB converts the files into appropriate format before DRM can be assigned.

A-PB puts the track into the IFDNRG file system (by means of
  mapped network drive??) A-PB opens IFDNRG interface, where he can select by
  means of drop-down box: 

	content provider
  
	track ID 

Or
	content provider
  
	album ID
  
	track ID 

26

Track purchase/download – User experience 

User will purchase a list of tracks (album will be itemized into
  track list as well, but with different price). 

  When payment confirmation is received from E-commerce provider, relevant tables
  are updated. 

  User gets an email with following data: 

  Dynamic download link (available only when user log-in) 

  List of tracks ready for download (shopping basket content) 

  Password associated to each track for DRM license process 

  User click on download link, log-into PlayBOX (if not logged-in already) and
  all tracks are listed, ready for download. 

  When user finishes downloading the track, it can open the track using Windows
  Media Player. 

  Windows Media Player asks the user to provide: PlayBOX username and password
  associated to the relevant track from email. Note that this password is different
  from user’s PlayBOX one! 

              
  XIV. System Component Design 

Component is defined as a set of similar functionalities grouped
  together. Component design of the PlayBOX is derived from the detailed function
  matrix. Each component is briefly explained. 

Content Management 

  System shall support different content manipulation depending on user currently
  logged-in. By content we mean, various files (track, streaming), descriptions
  (text, pictures) and container (album). 

Account management 

  System shall support account hierarchy, where all actions available to subordinate
  account are accessible to its superior. 

Account hierarchy is: 

  Visitor -> User -> Administrator-whitelabel -> Administrator-aggregator
  -> Administrator-PlayBOX 

Reporting facility 

  PlayBOX shall be able to provide various reports. Mostly these reports will
  be created by processing every single billing event. Some reports have graphical
  representation. 

Promotion sending facility 

  In order to be able to send messages to all users belonging to the appropriate
  content provider, system supports this functionality in a user friendly way.
  Web form allows administrator to distribute any messages to its users. If an
  email is bounced-back (user email does not exist anymore), it is not sent into
  the PlayBOX system, but directly into administrator’s mailbox. 

              
  XV. Licenses 

	Entrust Secure Certificate (SSL) – See security above
  
	Pro-JpGraph PHP Library (http://www.aditus.nu/jpgraph/index.php) 

2) PLAYBOX ONLINE MUSIC JUKEBOX (Version 4.7)
  

The PlayBOX online music jukebox software is developed as an
  object-oriented web solution targeted to run on any pc. This makes PlayBOX not
  only a full-blown web solution but also an effective music player and management
  application for home users. There are two main uses for PlayBOX: 

	I. 	 As the web front-end and business logic for the Record
        Industry, that is Record Labels and Record Stores.

	II. 	 As the visual user interface, player and management
        system for the customers - the music listeners in their homes.

27

Technology Overview 

  PlayBOX consists of a back-end and a front-end – both of which can
  run on the same PC or on separate PC’s. PlayBOX runs on Windows, Linux
  and Mac OS x. The solution can be built on royalty-free components exclusively:

 

PlayBOX runs on Windows, Linux and Macintosh, but has not yet
  been tested on the latter. The backend must be installed with the following
  mentioned below: 

	Apache Web Server
  
	PHP Scripting Engine
  
	MySQL Database Server
  
	Winamp or AlsaPlayer Media Player Applications
  
	PlayBOX Files 

The front-end handles user-interaction (music playback and management)
  via a standard web browser. This gives PlayBOX a very familiar and graphically
  oriented user interface. 

The back-end consists of a standard web server, like Apache (www.apache.org)
  to serve the client with html pages and graphics, a scripting engine that executes
  the PlayBOX code, the PlayBOX code itself, an SQL database to hold all meta
  data, the media files (mp3 songs, pictures, lyrics and videos) stored in the
  file system and a media player to play the music. The back-end may be physically
  connected to the user’s stereo equipment, or the pc itself can serve as
  the playback hardware. 

Each back-end component is described in more detail in the sections
  below. 

The front-end and back-end is tied together in one or more of
  several ways: 

	Local Machine: The user runs PlayBOX on one pc or PlayBOX hardware box,
    which contains all components locally. The user still accesses PlayBOX through
  
	a web browser – the communication is taken care of automatically via
    the local loop-back address (127.0.0.1)
  
	Wireless Network: PlayBOX is controlled by a wireless, web browser enabled
    lap-top PC, PDA or mobile phone via WiFi (802.11x), Bluetooth or GPRS (for
    streaming).
  
	Wired Network: A pc or handheld device connected to the PlayBOX back-end
    via Ethernet network cables or similar.
  
	Dial-in: If the PlayBOX server is connected to the Internet it can be accessed
    like any other server on the net. This is relevant for streaming. 

Components 

28

In the following sections each PlayBOX server component is described:

	Web Server: PlayBOX is generally based on Internet standards
    which is a great advantage because it is widely supported by hardware and
    software vendors 2) accessed from almost everywhere 3) has huge momentum 4)
    is known by most users. The web server is the »bridge« between the
    front-end and the back-end whether PlayBOX is installed on a single, stand-alone
    pc, in a network or on the Internet. The web server sends plain html and JavaScript
    to the client web browser. The web server can be either Apache (the most widely
    used web server on the net) which is free Open Source or Internet Information
    Server from Microsoft, or any other web server that can be extended with the
    PHP scripting module.
  
	Scripting Engine: The web server will include an extra
    module to execute the PlayBOX code. PlayBOX relies on the popular, object
    oriented Open Source programming language PHP

    (www.php.net).
  
	The Code: The PlayBOX code is the core layer of the solution.
    Without this there would be only standard components which do not provide
    much functionality out of the box. The PlayBOX code ties the back-end components
    together, using the database, managing the media files and controlling the
    media player. The source code is encoded with the Zend Encoder (www.zend.net)
    to protect the Intellectual Property. See the section below on how the code
    is structured.
  
	Database: The database is yet an Open Source component, MySQL
    (www.mysql.com), which is a scaled-sown,
    super-fast SQL database that takes care of indexing and retrieving all Meta
    data. The database is accessed from the PlayBOX code. Thanks to the object
    oriented code structure of PlayBOX, other databases can be utilized very easily.
    The Record Industry handling thousands simultaneous users on their servers
    may want to use a more industrial strength database engine such as Oracle
    – even though MySQL goes pretty much of the way.
  
	Media Files: mp3 files, lyrics, video sequences, URL’s
    etc. are stored in the file system on the computer’s hard disk. PlayBOX
    maintains a structure so that all files reside in a logical structure which
    can even be browsed and understood by the more advanced the database about
    the file structure and file locations.
  
	Media Player: To play the media files PlayBOX can use almost
    any existing media player on the market. Most of these are freeware or Open
    Source. Per default PlayBOX is configured to use Winamp (www.winamp.com) on Windows, AlsaPlayer (www.alsaplayer.org) on Linux and iTunes (www.apple.com/itunes) on Mac OS x. The user will only
    be able to see the player if the PlayBOX back-end and front-end run on the
    same pc. But PlayBOX provides visual feedback in the user’s browser about
    current track and playlist along with the familiar »VCR buttons«
    (play, pause, stop, next, previous, rewind and fast forward). 

Code Structure 

  The code is extremely well-structured and well-written. It utilizes PHP’s
  object oriented capabilities and a layering scheme to make code maintenance
  and extension very straightforward. The code is divided into 3 layers: 

 

The Business Logic layer is where all data structures are manipulated,
  the database is interacted with and files are managed. The code in this layer
  has no knowledge about presenting the data. The Utility layer »asks«
  the objects in the Business Logic layer about the data and prepares html and
  variables for the 

29

Presentation layer. The Presentation layer is almost 100% html,
  CSS (Cascading Style Sheets) and graphics (gif and jpeg). Dynamic data in this
  layer is retrieved from the Utility and Business Logic layers using PHP tags,
  and simple PHP loop structures can be used to present variable length lists
  etc. 

If a new platform – PDA, WAP, Series 60 or any other platform
  that requires specific presentation – must be supported, only the presentation
  layer needs to be written, cutting off more than two thirds of the development
  time. 

All formatting is done with CSS, separated in a folder that serves
  as a »theme«. Giving PlayBOX a whole new appearance is just a matter
  of making a new theme by changing the desired graphics and CSS files. This is
  also how PlayBOX branding is done.

Figure 1: Screenshot of the Welcome page

   

Figure 2: Screenshot of the Album detail page 

   

30Filed by Automated Filing Services Inc. (604) 609-0244 - Playbox (US) Inc. - Exhibit 10.11

EXHIBIT 10.11 

THIS TERMINATION AND RELEASE AGREEMENT dated for
reference the 31st day of March, 2006, 

AMONG: 

HBI SALES PRIVATE LIMITED, a
Licensor registered in Asia and having an address at 204A Mittal Towers, 6 M.G.
Road, Bangalore 560 001, India (the “First Licensor”) 

ZACAN HOLDINGS PROPRIETARY
LIMITED a company registered in Australia whose registered office is
situated at level 5, 49 Market Street, Sydney, Australia (the “Second
Licensor”); 

ICT/EUROPETEC LIMITED a company
registered in England and Wales whose registered address is situated at 4
Bedford Row, London, England (the “Third Licensor”); 

MIR TECHNOLOGIES LLC a company
registered in the United States whose registered office is situate at Agents
& Corporations Inc., 1201 Orange Street, Wilmington, Delaware 19801 United
States (the “Fourth Licensor” and collectively with the First Licensor, Second
Licensor and the Third Licensor, the “Licensors”); and 

PLAYBOX MEDIA
LIMITED, a limited company registered in England & Wales
whose business address is at Suite 5.15, 130 Shaftesbury Avenue, London England
(the “Agent”) 

WHEREAS the following terms set out the agreement
between the Licensors and the Agent, in connection with the termination of an
Agency Exploitation Agreement (the “Agency Exploitation Agreement”) between the
Licensors and the Agent dated March 30, 2004 whereby the Licensors provided the
Agent with the right to commercially exploit the intellectual property rights to
the technology and software that relates to the Infrablue Technology, including
all future upgrades. 

NOW THEREFORE in consideration of the respective
covenants and agreements of the parties contained herein, the sum of one Pound
Sterling (“GBP”) paid by each party hereto to each of the other parties and
other good and valuable consideration (the receipt and sufficiency of which is
hereby acknowledged by each of the parties hereto), it is agreed as follows:

	1. 	
      Termination of Agency Exploitation
      Agreement. Effective as of the date first written above the Agency
      Exploitation Agreement is hereby terminated, and is null and void and of
      no further force or effect.

	 	 
	2. 	
      No Claims / No Pledge of Claims. The
      parties each warrant, represent, acknowledge and agree to and with each
      other that they have no outstanding claims under the Agency Exploitation
      Agreement or otherwise, against the any of the other parties to this
      Agreement and that none of them has heretofore received, or agreed to, any
      assignment, transfer, lien, security interest, encumbrance or
      hypothecation by pledge to any other person of any of his rights, claims,
      demands, causes of action or damages that are the subject matter of this
      Agreement.

	 	 
	3. 	
      Non-Disclosure of the Terms of this Agreement.
      The parties each agree with the other parties to this Agreement
      that the terms of this Agreement are not to be revealed to anyone except
      for the purposes of obtaining financial or other professional advice.
      Further, each of the parties agree that they will not directly or
      indirectly make any statements about any of the
other

		
      parties in any manner that could be considered
      disparaging or negative or directly or indirectly make any statements
      about the terms of this Agreement other than to communicate any statement
      of facts agreed to in writing in advance by each and all of the
      parties.

	 	 
	4. 	
      Return of Property. The Agent will return
      forthwith all property of the Licensors now in his possession, including
      but not limited to all papers, plans, materials, software and any and all
      documents of the Licensors.

	 	 
	5. 	
      Release of Agent and Licensors. In
      consideration of the foregoing the parties hereby release and forever
      discharge each other and their directors, employees, officers and
      representatives, of and from all manner of actions, causes of action,
      suits, debts, accounts, covenants, contracts, claims and demands
      whatsoever, whether or not now known, suspected or claimed, which the
      other party has had, now has or which his legal personal representatives,
      heirs, executors, administrators or assigns or any of them, hereafter can,
      shall or may have against the other party or its directors, employees,
      officers and representatives, by reason of any cause, matter or thing
      whatsoever arising in connection with the Agency Exploitation Agreement
      including, without limitation, the termination of the Agency Exploitation
      Agreement.

	 	 
	6. 	
      No Other Agreements. Each of the parties
      hereto acknowledges and represents to the other that this Agreement is
      executed without reliance upon any agreement, promise, statement or
      representation by or on behalf of any of the other parties hereto except
      as set forth herein, and each of the parties hereto acknowledges that no
      other party hereto nor any agent of such party has made any promises,
      representations or warranties whatsoever, whether expressed or implied,
      which are not contained herein in writing concerning the matters herein
      set forth.

	 	 
	7. 	
      Legal Advice. The Parties acknowledge that
      they have each been requested to obtain independent legal advice with
      respect to the entering into of this Agreement and have been provided with
      sufficient time to obtain such legal advice.

	 	 
	8. 	
      Counterparts. This Agreement may be
      executed in as many counterparts as may be necessary and by facsimile,
      each of such counterparts so executed will be deemed to be an original and
      such counterparts together will constitute one and the same instrument and
      notwithstanding the date of execution will be deemed to bear the date as
      of the day and year first above written.

IN WITNESS WHEREOF the parties have duly executed this
Termination and Release Agreement as of the date first written above. 

	HBI SALES PRIVATE LIMITED 	 	ZACAN HOLDINGS PROPRIETARY LIMITED
    
		  	 		
		  	 		
	Per: 	/s/ Peter Wren-Hilton 	 	Per: 	/s/ Paul Carter (Director) 
		Authorized Signatory 	 		Authorized Signatory 
		  	 		  
	ICT/EUROPETEC LIMITED 	 	MIR TECHNOLOGIES LLC 
	 		 		 
	 		 		 
	Per: 	/s/ Paul Carter (Director) 	 	Per: 	/s/ Timothy M Cocker (Director)
	   	Authorized Signatory 	 		Authorized Signatory 
	  	  	 		  
	PLAYBOX MEDIA LTD 	 		  
			 		 
	Per: 	/s/ Robert Burden (Managing Director)
    	 		  
		Authorized Signatory

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