Document:

Exhibit 10.10

                           CONVERTIBLE PROMISSORY NOTE

November 6, 2001                                                      $40,000.00

         CapSource Financial, Inc., a Colorado corporation (the "Company"),
hereby promises to pay to Steven J. Kutcher, Custodian for Anthony J. Kutcher,
UGTMA, ("Holder") or their assigns the principal amount of Forty Thousand and
No/100 Dollars ($40,000.00) ("Principal"), together with interest thereon
calculated from the date hereof in accordance with the provisions of this Note.

         1. Interest Rate/Payment of Interest. Interest shall accrue from
November 1, 2001, at a rate equal to twelve percent (12%) per annum (Interest
Rate). The Interest Rate hereunder will be fixed for the term of the Note. The
Company shall pay to the Holder, in arrears, all accrued interest on a monthly
basis beginning December 1, 2001 and on the same date of each consecutive month
thereafter.

         2. Payment of Principal. Subject to the provisions of Section 6, the
Principal is due and payable November 1, 2003. The Company may, at any time and
from time to time without premium or penalty, prepay all or a portion of the
outstanding Principal of this Note.

         3. Restrictions on Payment. Notwithstanding anything in this Note to
the contrary, the obligations of the Company in respect to the Principal,
interest, fees, charges and other amounts on this Note, and all rights and
remedies of the Holder under this Note, shall be junior in right of payment to
all other indebtedness of the Company.

         4. Cancellation. After all the Principal and accrued interest at any
time owed on this Note has been paid in full or this Note has been converted
into the Common Stock pursuant to Section 6, this Note shall be surrendered to
the Company for cancellation and shall not be reissued.

         5. Place of Payment, Notices. Payments of principal and interest,
delivery of shares of Common Stock and any notice hereunder are to be delivered
to the Holder at the following address:

                  Steven J. Kutcher, Custodian
                  Anthony J. Kutcher UGTMA
                  2305 Canyon Boulevard, Suite 103
                  Boulder, Colorado 80302

         Notices shall be deemed received when delivered personally, or one day
after being sent by Federal Express or other overnight carrier, or five days
after being sent by certified or registered mail.

         6. Conversion. This Principal of this Note, together with any interest
accrued and unpaid shall be convertible, at the option of the Holder at any
time, into shares of fully paid and nonassessable Common Stock of the Company at
a price equal to seventy-five percent (75%) of the Market Price of the Common
Stock at the time of Conversion ("Conversion Price"). For purposes of this Note
the term "Market Price" on any date shall be defined as the average of the daily
closing prices per share of such Common Stock for the thirty (30) consecutive
Trading Days (as such term is hereinafter defined) immediately prior to such
date. The closing price for each day shall be the last sale price, regular way,
or, in case no such sale takes place on such day, the average of the closing bid
and asked prices, regular way, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed or
admitted to trading on the New York Stock Exchange or, if the shares of Common
Stock are not listed or admitted to trading on the New York Stock Exchange, as
reported in the principal consolidated transaction reporting system with respect
to securities listed on the principal national securities exchange on which the
shares of Common Stock are listed or admitted to trading or, if the shares of
Common Stock are not listed or admitted to trading on any national securities
exchange, the last quoted price or, if not so quoted, the average of the high
bid and low asked prices in the over-the-counter market, as reported by the
National Association of Securities Dealers, Inc. Automated Quotation System
("NASDAQ") or such other system then in use, or, if on any such date

<PAGE>

the shares of Common Stock are not quoted by any such organization, the average
of the closing bid and asked prices as furnished by a professional market maker
making a market in the Common Stock selected by the Board of Directors of the
Company. If on any such date no market maker is making a market in the Common
Stock, the fair value of such shares on such date as determined in good faith by
the Board of Directors of the Company shall be used. The term "Trading Day"
shall mean a day on which the principal national securities exchange on which
the shares of Common Stock are listed or admitted to trading is open for the
transaction of business or, if the shares of Common Stock are not listed or
admitted to trading on any national securities exchange, a business day. If the
Common Stock is not publicly held or not so listed or traded, "Market Price"
shall mean the fair value per share as determined in good faith by the Board of
Directors of the Company, whose determination shall be described in a statement
filed with the Holder and shall be conclusive for all purposes.

         7. Conversion Procedure. Upon surrender of this Note, the Company shall
deliver to the Holder certificates evidencing shares of Common Stock into which
the principal amount of this Note, together with accrued and unpaid interest
thereon, was converted. If a portion of this Note is converted, the principal
amount (together with accrued and unpaid interest thereon) so converted shall be
applied for the proper number of shares of Common Stock for the portion
converted and the balance of the unpaid principal amount hereof shall remain
outstanding and due and payable in accordance with the terms hereof, or may be
converted at a subsequent date pursuant to the terms of this Note. The
conversion shall be deemed to have been effected immediately before the close of
business on the date the Company receives a notice of conversion from the
Holder. Following such surrender, in the case of a partial conversion, the
Company shall issue a replacement note, in form and substance substantially
similar to this Note, but appropriately revised to reflect such conversion.

         8. No Fractional Shares. No fractional shares of Common Stock are to be
issued in connection with any conversion, but in lieu of such fractional share,
the Company shall make a cash payment therefor on the conversion date.

         9. Holder's Representations and Warranties.

                  a) Holder represents he is purchasing the Note and any Common
Stock into which such Note may be converted for investment, for its own account
and not for the account of any Employee Benefit Plan (or if the Note is being
acquired for the account of any such Plan, such acquisition does not involve a
nonexempt prohibited transaction within the meaning of Section 406 of ERISA or
Section 4975 of the Code) and not with a view to distribution thereof, except
for transfers permitted hereunder. Holder understands that the Note and any
Common Stock received upon conversion of the Note must be held indefinitely
unless it is registered under the Securities Act of 1933, as amended, or an
exemption from such registration becomes available.

                  b) Holder represents and warrants to the Company that he
understands that the purchase of the Common Stock of the Company involves
substantial risk and that its financial condition and investments are such that
it is in a financial position to hold the Common Stock for an indefinite period
of time and to bear the economic risk of, and withstand a complete loss of, such
Common Stock. In addition, by virtue of its expertise, the advice available to
it and previous investment experience, the Holder has extensive knowledge and
experience in financial and business matters, investments, securities and
private placements and the capability to evaluate the merits and risks of the
transactions contemplated by this Agreement. The Holder represents that he is an
"accredited investor" as that term is defined in Regulation D promulgated under
the Securities Act of 1933 as amended.

                  c) During the negotiation of the transaction contemplated
herein, the Holder and his representatives have been afforded full and free
access to corporate books, financial statements, records, contracts, documents,
and other information concerning the Company and to its offices and facilities,
have been afforded an opportunity to ask such questions of the Company's
officers and employees concerning the Company's business, operations, financial
condition, assets, liabilities and other relevant matters as they have deemed
necessary or desirable, and have been given all such information as has been
requested, in order to evaluate the merits and risks of the prospective
investment contemplated herein.

                                       2
<PAGE>

         10. Governing Law. The validity, construction, and interpretation of
this Note will be governed by the internal laws, and not the laws of conflicts,
of the State of Minnesota.

         IN WITNESS WHEREOF, the Company has executed and delivered this Note on
the date first above written.

                                        CapSource Financial, Inc.

                                        ------------------------------------
                                        By:    Fred Boethling
                                        Title: President

                                       3Exhibit 10.11

                           CONVERTIBLE PROMISSORY NOTE

November 6, 2001                                                      $40,000.00

         CapSource Financial, Inc., a Colorado corporation (the "Company"),
hereby promises to pay to Steven J. Kutcher, Custodian for Nicole E. Kutcher,
UGTMA, ("Holder") or their assigns the principal amount of Forty Thousand and
No/100 Dollars ($40,000.00) ("Principal"), together with interest thereon
calculated from the date hereof in accordance with the provisions of this Note.

         1. Interest Rate/Payment of Interest. Interest shall accrue from
November 1, 2001, at a rate equal to twelve percent (12%) per annum (Interest
Rate). The Interest Rate hereunder will be fixed for the term of the Note. The
Company shall pay to the Holder, in arrears, all accrued interest on a monthly
basis beginning December 1, 2001 and on the same date of each consecutive month
thereafter.

         2. Payment of Principal. Subject to the provisions of Section 6, the
Principal is due and payable November 1, 2003. The Company may, at any time and
from time to time without premium or penalty, prepay all or a portion of the
outstanding Principal of this Note.

         3. Restrictions on Payment. Notwithstanding anything in this Note to
the contrary, the obligations of the Company in respect to the Principal,
interest, fees, charges and other amounts on this Note, and all rights and
remedies of the Holder under this Note, shall be junior in right of payment to
all other indebtedness of the Company.

         4. Cancellation. After all the Principal and accrued interest at any
time owed on this Note has been paid in full or this Note has been converted
into the Common Stock pursuant to Section 6, this Note shall be surrendered to
the Company for cancellation and shall not be reissued.

         5. Place of Payment, Notices. Payments of principal and interest,
delivery of shares of Common Stock and any notice hereunder are to be delivered
to the Holder at the following address:

                  Steven J. Kutcher, Custodian
                  Nicole E. Kutcher UGTMA
                  2305 Canyon Boulevard, Suite 103
                  Boulder, Colorado 80302

         Notices shall be deemed received when delivered personally, or one day
after being sent by Federal Express or other overnight carrier, or five days
after being sent by certified or registered mail.

         6. Conversion. This Principal of this Note, together with any interest
accrued and unpaid shall be convertible, at the option of the Holder at any
time, into shares of fully paid and nonassessable Common Stock of the Company at
a price equal to seventy-five percent (75%) of the Market Price of the Common
Stock at the time of Conversion ("Conversion Price"). For purposes of this Note
the term "Market Price" on any date shall be defined as the average of the daily
closing prices per share of such Common Stock for the thirty (30) consecutive
Trading Days (as such term is hereinafter defined) immediately prior to such
date. The closing price for each day shall be the last sale price, regular way,
or, in case no such sale takes place on such day, the average of the closing bid
and asked prices, regular way, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed or
admitted to trading on the New York Stock Exchange or, if the shares of Common
Stock are not listed or admitted to trading on the New York Stock Exchange, as
reported in the principal consolidated transaction reporting system with respect
to securities listed on the principal national securities exchange on which the
shares of Common Stock are listed or admitted to trading or, if the shares of
Common Stock are not listed or admitted to trading on any national securities
exchange, the last quoted price or, if not so quoted, the average of the high
bid and low asked prices in the over-the-counter market, as reported by the
National Association of Securities

<PAGE>

Dealers, Inc. Automated Quotation System ("NASDAQ") or such other system then in
use, or, if on any such date the shares of Common Stock are not quoted by any
such organization, the average of the closing bid and asked prices as furnished
by a professional market maker making a market in the Common Stock selected by
the Board of Directors of the Company. If on any such date no market maker is
making a market in the Common Stock, the fair value of such shares on such date
as determined in good faith by the Board of Directors of the Company shall be
used. The term "Trading Day" shall mean a day on which the principal national
securities exchange on which the shares of Common Stock are listed or admitted
to trading is open for the transaction of business or, if the shares of Common
Stock are not listed or admitted to trading on any national securities exchange,
a business day. If the Common Stock is not publicly held or not so listed or
traded, "Market Price" shall mean the fair value per share as determined in good
faith by the Board of Directors of the Company, whose determination shall be
described in a statement filed with the Holder and shall be conclusive for all
purposes.

         7. Conversion Procedure. Upon surrender of this Note, the Company shall
deliver to the Holder certificates evidencing shares of Common Stock into which
the principal amount of this Note, together with accrued and unpaid interest
thereon, was converted. If a portion of this Note is converted, the principal
amount (together with accrued and unpaid interest thereon) so converted shall be
applied for the proper number of shares of Common Stock for the portion
converted and the balance of the unpaid principal amount hereof shall remain
outstanding and due and payable in accordance with the terms hereof, or may be
converted at a subsequent date pursuant to the terms of this Note. The
conversion shall be deemed to have been effected immediately before the close of
business on the date the Company receives a notice of conversion from the
Holder. Following such surrender, in the case of a partial conversion, the
Company shall issue a replacement note, in form and substance substantially
similar to this Note, but appropriately revised to reflect such conversion.

         8. No Fractional Shares. No fractional shares of Common Stock are to be
issued in connection with any conversion, but in lieu of such fractional share,
the Company shall make a cash payment therefor on the conversion date.

         9. Holder's Representations and Warranties.

                  a) Holder represents he is purchasing the Note and any Common
Stock into which such Note may be converted for investment, for its own account
and not for the account of any Employee Benefit Plan (or if the Note is being
acquired for the account of any such Plan, such acquisition does not involve a
nonexempt prohibited transaction within the meaning of Section 406 of ERISA or
Section 4975 of the Code) and not with a view to distribution thereof, except
for transfers permitted hereunder. Holder understands that the Note and any
Common Stock received upon conversion of the Note must be held indefinitely
unless it is registered under the Securities Act of 1933, as amended, or an
exemption from such registration becomes available.

                  b) Holder represents and warrants to the Company that he
understands that the purchase of the Common Stock of the Company involves
substantial risk and that its financial condition and investments are such that
it is in a financial position to hold the Common Stock for an indefinite period
of time and to bear the economic risk of, and withstand a complete loss of, such
Common Stock. In addition, by virtue of its expertise, the advice available to
it and previous investment experience, the Holder has extensive knowledge and
experience in financial and business matters, investments, securities and
private placements and the capability to evaluate the merits and risks of the
transactions contemplated by this Agreement. The Holder represents that he is an
"accredited investor" as that term is defined in Regulation D promulgated under
the Securities Act of 1933 as amended.

                  c) During the negotiation of the transaction contemplated
herein, the Holder and his representatives have been afforded full and free
access to corporate books, financial statements, records, contracts, documents,
and other information concerning the Company and to its offices and facilities,
have been afforded an opportunity to ask such questions of the Company's
officers and employees concerning the Company's business, operations, financial
condition, assets, liabilities and other relevant matters as they have deemed
necessary or desirable, and have been given all such information as has been
requested, in order to evaluate the merits and risks of the prospective
investment contemplated herein.

                                       2
<PAGE>

         10. Governing Law. The validity, construction, and interpretation of
this Note will be governed by the internal laws, and not the laws of conflicts,
of the State of Minnesota.

         IN WITNESS WHEREOF, the Company has executed and delivered this Note on
the date first above written.

                                        CapSource Financial, Inc.

                                        ------------------------------------
                                        By:    Fred Boethling
                                        Title: President

                                       3

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