Document:

EXHIBIT
        10.01

       

      NO:
        (2007) (BAO) ZI (026)

       

      

      

       

      Contract
        of Suretyship

      

      
        	
                

              

      

       

       

      

      
        
           

        

        
          Exhibit
            10.1 - 1

          
            

          

        

        
           

        

      

       

      Contract
        of Suretyship

      

      Creditor:
        Yayuncun
        Branch Bank, Beijing Rural Commercial Bank (hereinafter
        referred to as Party A)

      Address:
        No. A56, Anli Road, Chaoyang District, Beijing

      Postal
        Code: 100012

      Person
        in
        Charge: Cui Jin

      Tel:
        84802809

      Fax:
        84802808

      

      Surety:
        Beijing
        Xelent Tech & Trading Co., Ltd. ((hereinafter
        referred to as Party B)

      Address:
        20G,
        Building A, Chengming Building, 2 Xizhimennan Avenue, Xicheng District,
        Beijing

      Postal
        Code: 100034

      Legal
        Representative: Wang Xin

      Tel:
        85653808

      Fax:
        85633636

      Deposit
        Bank: Chang'an Branch, Huaxia Bank 

      Account:
        4031200001804000036428

      Loan
        Card: 110100000440303101

      

      

      For
        the
        purpose of assuring the implementation of Loan
        Contract
        (hereinafter referred to as principal contract,) No. (026) (Jie)
        zi
        (2007) signed by the debtor of the principal contract CECT-CHINACOMM
        COMMUNICATIONS Co.,Ltd.
        and
        Party A on June 20th,
        2007,
        Party B hereby desires to provide suretyship for the debtor of principal
        contract.

      

      Party
        A
        hereby agrees to accept the suretyship provided by Party B after review.
        This
        contract is hereby made through mutual negotiations of both parties in
        accordance with the
        Guaranty Law of the People's Republic of China
        and
        other relevant laws and regulations for the purpose of defining the rights
        and
        obligations of both parties.

      
        
           

        

        
          Exhibit
            10.1 - 2

          
            

          

        

        
           

        

      

       

      Chapter
        I Nature and Amount of Principal Claim

       

      Article
        11 The nature and amount of principle claim guaranteed by Party B are the
        nature
        amount of principal claim of principal contract. Type: payment term, The
        amount
        of principal claim shall be set in the amount of RMB 120, 000,000 (one hundred
        and twenty million).

      

      Chapter
        II
        Term of Implementation of Principal Contract

       

      The
        term
        of implementation of principal contract shall be set in the period form
June
        20th,
        2007
        to
June
        16th,
        2010.

       

      

      Chapter
        III Modes of Suretyship

       

      Article
        3
        The modes of suretyship hereof shall be suretyship of joint and several
        liability.

      

       

      Chapter
        IV Scope of Suretyship

       

      Article
        4
        The suretyship hereof shall guarantee the principal and interests of the
        principal contract, penalty, compound, default fine, compensation, expense
        to
        satisfy creditor’s rights including but not limited to litigation expense,
        attorney expense, travel expense etc. and all other payable
        expenses.

       

       

      Chapter
        V Term of Suretyship

       

      Article
        5
        The term of suretyship hereof shall be two (2) years from
        the
        date of maturity of principal debt; the term of suretyship of bank acceptance
        shall be two (2) years from the date of payment on account made by Party
        A.

       

      Where
        the
        loans of principal contract become matured by batches, the term of suretyship
        of
        each loan shall be two (2) years from the date of maturity of the
        loan.

       

      Where
        Party A collect loans in advance upon the terms and conditions of principal
        contract, the term of suretyship shall be two (2) years from the date of
        repayment notice made by Party A to the borrower.

      

       

      Chapter
        VI Rights and Obligations of Both Parties

      Article
        6
        Rights and Obligations of Party B:

      

       

      6.1
        Party
        B makes such guarantee that it is capable of providing suretyship as a surety
        in
        accordance with the laws of People’s Republic of China;

      

       

      6.2
        Party
        B makes such guarantee that it has been aware of and agreed with all terms
        and
        conditions of principal contract and desires to provide suretyship for the
        debtor of principal contract and all its expressions of intent hereof are
        authentic;

      

       

      6.3
        Party
        B shall be liable for suretyship independently. Where a third party provides
        suretyship for the debtor of principal contract, Party B shall continue to
        be
        liable for suretyship.

      

      
        
           

        

        
          Exhibit
            10.1 - 3

          
            

          

        

        
           

        

      

       

      6.4
        Party
        B makes such guarantee that all introductions related to its credibility,
        financial reports or other materials provided to Party A are authentic and
        valid;

      

       

      6.5
        Where
        the debtor of principal contract repays all debts of principal contract on
        time,
        Party B shall not be held liable for the suretyship hereof;

      

       

      6.6
        Party
        A and the debtor of principal contract may have right to modify the principal
        contract without Party B’s consent except the terms of extension and amount of
        loan. Party B shall continue to be held liable within the scope of suretyship
        hereof whereby and shall not escape from joint and several liability due
        to such
        modification.

      

       

      6.7
        During the period of validity hereof, where Party A transfer its principal
        claim
        to a third party, a consent shall not need to be obtained from the surety;
        Party
        B shall continue to be held liable within the scope of suretyship
        hereof.

      

       

      6.8Party
        B shall perform all obligations of principal contract instead where the debtor
        of principal contract fails to perform its obligations according to agreements
        (including advance maturity agreed in principal contract);

      

       

      6.9
        During
        the period of validity hereof, in case any following situations are aroused,
        Party A shall be informed in writing thirty (30) days in advance and the
        liabilities of suretyship hereunder shall be fulfilled:

      

       

      a)
        Party
        B’s conducts including alteration in shares and registered capital,
        contract-making, rent, reform in stock, pool, merger, acquisition, joint
        venture
        or separation; 

      

       

      b)
        Party
        B is bankrupt; 

      

       

      c)
        Party
        B goes out of business; 

      

       

      d)
        Party
        B is dissolved; 

      

       

      e)
        Party
        B’s business license is withdrawn;

      

       

      f)
        Party
        B is withdrawn;

      

       

      g)
        Party
        B stops production;

      

       

      h)
        Party
        B’s financial status is deteriorated facing serious difficulties;

      

      
        
           

        

        
          Exhibit
            10.1 - 4

          
            

          

        

        
           

        

      

       

      i)
        Party
        B is involved in significant lawsuits;

      

       

      In
        case
        of modification of address, name, scope of business and legal representative
        of
        Party B, Party A shall be informed in writing within five (5) days upon
        modification;

      

       

      6.10
        During term of suretyship, Party B shall not provide suretyship to a third
        party
        beyond its capacities;

      

       

      6.11Party
        B shall be responsible for supervision on the use of loan of the debtor of
        principal contract.

      

       

      Article
        7 Rights and Obligations of Party A

      7.1
        Party
        A may have right to demand Party B to provide relevant documents that can
        prove
        its legal identity;

      

       

      7.2
        Party
        A may have right to demand Party B to provide financial reports and other
        materials that can reflect its credibility;

      

       

      7.3
        Where
        Party A’s creditor’s rights fail to be satisfied partly or fully upon maturity
        of principal debt, Party A may have right to demand Party B to fulfill its
        liabilities of suretyship in accordance with the terms and conditions
        herein.

      

       

      7.4
        Where
        Party B fail to fulfill its liabilities of suretyship, Party A may have right
        to
        adopt following measures to repay the principal debt:

      

       

      a)
        To
        deduct from any
        accounts opened by Party B in all Party A’s business organizations
        directly;

      

       

      b) To
        deal
        with the assets or property rights of Party B legally possessed and operated
        by
        Party A.

      

       

      7.5  During
        the period of validity of principal contract, where Party A transfer its
        principal claim to a third party, Party B shall be informed in
        time.

      

       

      Chapter
        VII Breach

      Article
        8
        Both parties shall perform the obligations hereunder fully after this contract
        comes into force. Should either party fail to perform the obligations hereunder
        or perform the obligations hereunder inappropriate, it shall be deemed as
        breach
        hereof and shall be held liable for the loss of the other party arising
        therefrom.

       

      
        
           

        

        
          Exhibit
            10.1 - 5

          
            

          

        

        
           

        

      

       

      Article
        9
        In case of invalidity hereof due to Party B’s fault, Party B shall be held
        liable for all losses of Party A arising therefrom within the scope of
        suretyship herein.

      

       

      Chapter
        VIII Validity, Modification, Rescindment and Termination

      Article
        10 This contract shall become valid in the event that it is signed and attached
        official seal by the legal representatives (main principal) of both parties
        or
        the agents (the authorization paper shall be attached as an annex
        hereof).

      

       

      Article
        11 This contract shall continue to be valid in case of invalidity of principal
        contract. Party A shall continue to be held liable for the suretyship hereunder
        in case of invalidity of principal contract.

      

       

      Article
        12 

      12.1
        Either party shall not modify in its own will or rescind in advance this
        contract after this contract comes into force. In the event that this contract
        needs to be modified or rescinded, it shall be made through mutual agreement
        in
        writing;

      

       

      12.2
        This
        contract shall be automatically terminated in the event that the debtor of
        principal contract has fulfilled all principal debts.

      

       

      Chapter
        IX Solution of Disputes

      Article
        13 Any disputes arising herefrom between Party A and Party B shall be settled
        through friendly negotiations; In case no settlements can be reached, the
        disputes shall be submitted to the people’s court of the place of Party
        A.

      

       

      Chapter
        X Miscellaneous

      Article
        14 Where the notice agreed herein is sent through telegram or fax, sending
        shall
        be deemed to have been served; where the notice is sent through mail, it
        shall
        be deemed to have been served three days after sending mail.

      

       

      Article
        15 Other matters agreed by both parties:

       

        
          

        

      

       

      Article
        16 This contract shall be made in triplicate and both parties and borrower
        hold one
        copy that is equally authentic.

      

       

      Article
        17 This contract is made in Asian
        Olympic Park Branch Bank, Beijing Rural Commercial Bank
        on
June
        20th, 2007.
        Party A
        has explained all terms of notices.

      

       

      Party
        A
        (official seal):

      

      
        
           

        

        
          Exhibit
            10.1 - 6

          
            

          

        

        
           

        

      

       

      Main
        Principal (signature): Cui Jin

      (or
        Agent)

      

       

      Date:
        June 20th, 2007

      

       

      Yayuncun
        Branch Bank, Beijing Rural Commercial Bank

      

       

      Party
        A
        (official seal):

      

       

      Main
        Principal (signature): Wang Xin

      (or
        Agent)

      

       

      Date:
        June 20th, 2007

      

       

      Beijing
        Xelent Tech & Trading Co., Ltd.

      

      
        
           

        

        
          Exhibit
            10.1 - 7Unassociated Document

    THIS
      NOTE
      HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
      (THE ”ACT”),
      OR
      ANY STATE SECURITIES LAWS. NO INTEREST IN THIS NOTE MAY BE OFFERED OR SOLD
      EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT
      AND APPLICABLE STATE LAWS, (ii) TO THE EXTENT APPLICABLE, PURSUANT TO RULE
      144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT), OR (iii) AN
      EXEMPTION FROM REGISTRATION UNDER THE ACT AND APPLICABLE STATE LAWS WHERE PAYEE
      HAS FURNISHED TO THE COMPANY AN OPINION OF ITS COUNSEL THAT AN REGISTRATION
      IS
      NOT REQUIRED.

     

    ASKMENOW,
      INC.

    12%
      JUNIOR CONVERTIBLE PROMISSORY NOTE

    

    
      	
              $________________

            	
              ____________,
                2007

            

    

     

        FOR
      VALUE
      RECEIVED, the undersigned, AskMeNow, Inc., a Delaware corporation (the
“Company”
or
      “Payor”),
      having its executive office and principal place of business at 26 Executive
      Park, Suite 250, Irvine, CA 92614, hereby promises to pay to
      _____________________, a _______________ with its principal place of business
      at
      __________________ (the “Payee”)
      at
      such address for Payee (or at such other place as Payee may from time to time
      hereafter direct by notice in writing to Payor), the principal sum of
      ______________ Dollars ($_____), together with interest at the Note Rate set
      forth in Section 2 on the principal balance outstanding from time to time.
      Any
      or all amounts of the amounts outstanding under this 12% Junior Convertible
      Promissory Note (this “Note”),
      including principal and accrued interest, are convertible into shares of the
      Company’s capital stock in accordance with Section 3 hereof. 

     

        This
      Note is
      being issued in connection with a bridge financing (the “Bridge
      Offering”)
      by the
      Company on a “best efforts” no minimum basis, up to a maximum of $1,000,000 of
      Bridge Offering units (each a “Bridge
      Unit”).
      Each
      Bridge Unit consists of $1.00 principal amount of 12% Junior Convertible
      Promissory Notes and Warrants to purchase Three (3) shares of common stock,
      $.01
      par value, of the Company at $.50 per share (the “Common
      Stock”),
      to be
      offered on a “best efforts” basis. The Bridge Offering is being made only to
      investors who qualify as “accredited investors” as such term is defined in Rule
      501 of Regulation D under the Securities Act of 1933, as amended (the
“Act”).
      Partial Bridge Units may be sold by the Company in its sole discretion.

     

        All
      of the
      proceeds of the Bridge Offering will be used by the Company for general
      corporate purposes, including working capital.

     

        1.    Maturity
      Date.
      Subject
      to the provisions of Section 3 below, the entire outstanding balance of this
      Note, including principal and unpaid accrued interest thereon (together, the
      “Note
      Balance”),
      will
      be due and payable in a single instalment on _______, 2008 (270 days following
      the issue date of this Note) (the “Maturity
      Date”).
      Notwithstanding the foregoing, the Maturity Date may be extended by an
      additional 90 days from the Maturity Date to _________, 2008 (the “Extended
      Maturity Date”)
      upon
      delivery by the Company of written notice thereof to the Payee no later than
      12:00 P.M. EST on the business day immediately preceding the Maturity
      Date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

        

        2.    Interest
      And Payment; Prepayment.

     

        2.1    The
      principal amount of this Note outstanding from time to time shall bear simple
      interest at the annual rate (the “Note
      Rate”)
      of
      twelve (12%) percent from the date hereof through the date of repayment or
      conversion, payable upon such date of repayment or conversion, as applicable.
      

     

        2.2    The
      principal amount of this Note may be prepaid in whole at any time, or in part
      from time to time, without penalty or premium, together with unpaid interest
      thereon.  

        

        2.3    All
      payments made by the Payor on this Note, including all prepayments, shall be
      applied first to the payment of accrued unpaid interest on this Note and then
      to
      the reduction of the unpaid principal balance of this Note. 

     

        2.4    All
      payments made by the Payor on this Note shall be made in such currency of the
      United States as shall be legal tender for the payment of public and private
      debts at the time of payment, at the address of the Payee set forth above,
      or at
      such other place as the Payee shall have designated in advance in writing to
      the
      Payor.

     

        2.5    In
      the
      event that the date for the payment of any amount payable under this Note falls
      due on a Saturday, Sunday or public holiday under the laws of the State of
      California, the time for payment of such amount shall be extended to the next
      succeeding business day and interest at the Note Rate shall continue to accrue
      on any principal amount so effected until the payment thereof on such extended
      due date.

     

        3.    Conversion.

     

        3.1    Optional
      Conversion at Any Time.
      At the
      option of the Payee exercised by written notice to the Company at any time
      while
      this Note remains outstanding, all but not less than all of the Note Balance
      may
      be converted into shares of the Company’s Common Stock, at a per share price
      equal to $.50 per share, with the same rights and preferences as the currently
      issued and outstanding shares of Common Stock. The number of shares of Common
      Stock to which the Payee will be entitled upon conversion of this Note pursuant
      to this Section 3.1 will be determined by dividing the dollar amount of the
      Note
      Balance on the Conversion Date (as defined below) by $.50 per share.

     

        3.2    Optional
      Conversion at Qualified Investment.
      If a
      person, business entity, or group of persons or business entities acting in
      concert (the “Qualified
      Investor”),
      acting after the date hereof and before the Maturity Date or Extended Maturity
      Date, as applicable, acquires, in a single arms-length transaction or in a
      series of related arms-length transactions, shares of the Company’s common
      stock, $.01 par value (the “Common
      Stock”)
      or
      other equity securities of the Company convertible into or exercisable for
      Common Stock, for an aggregate consideration valued at Five Million Dollars
      ($5,000,000) or more (the “Qualified
      Investment”),
      then
      at the same time the Qualified Investor pays the consideration for the Qualified
      Securities (as defined below), the Payee may elect by written notice thereof
      to
      the Company to convert all but not less than all of the Note Balance into
      securities that are the same series and with the same rights and preferences
      as
      the equity securities purchased by the Qualified Investor (the “Qualified
      Securities”),
      at a
      per share price equal to the per share sale price paid by the Qualified Investor
      (the “Conversion
      Price”).
      For
      these purposes, any equity securities of the Company issued in respect of this
      Note and any other Notes issued in the Bridge Offering of which this Note is
      a
      part shall not be counted towards the aforesaid Five Million Dollars
      ($5,000,000). The number of Qualified Securities to which the Payee will be
      entitled upon conversion of this Note pursuant to this Section 3.2 will be
      determined by dividing the dollar amount of the Note Balance on the Conversion
      Date by the Conversion Price. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

        3.3    Mechanics
      of Conversion; No Fractional Shares.
      In the
      event of a conversion pursuant to this Section 3, the Company covenants and
      agrees to take any and all actions that may be reasonably necessary or desirable
      in order to issue the Qualified Securities or Common Stock under the terms
      and
      conditions of this Note. Before the Payee shall be entitled to receive a
      certificate for the shares of the Qualified Securities or Common Stock into
      which this Note has been converted, the Payee shall surrender this Note duly
      endorsed, at the office of the Company, and shall execute and deliver to the
      Company all other agreements requested by the Company which relate to the
      Qualified Securities or Common Stock. The Company shall, as soon as reasonably
      practicable thereafter, and in any event within ten (10) business days of the
      date of conversion, issue and deliver to the Payee, at the address specified
      by
      the Payee, a certificate or certificates for the Qualified Securities or Common
      Stock to which the Payee shall be entitled. No fractional shares shall be issued
      upon conversion of this Note and the number of Qualified Securities or Common
      Stock to be issued shall be rounded to the nearest whole share. Any conversion
      pursuant to this Section 3 shall be deemed effective as of immediately prior
      to
      the close of business on the date on which the applicable conversion notice
      is
      delivered, and this Note is surrendered, by the Payee to the Company (the
“Conversion
      Date”).

     

        4.    No
      Rights as Shareholder.
      Nothing
      contained in this Note shall be construed as conferring upon the Payee or its
      permitted transferees, prior to the conversion of this Note, the right to vote,
      receive dividends, consent or receive notice as a shareholder in respect of
      any
      meeting of shareholders for the election of directors of the Company or of
      any
      other matter, or any other rights as a shareholder of the Company.

     

        5.    Replacement
      Of Note.

     

        5.1    In
      the
      event that this Note is mutilated, destroyed, lost or stolen, Payor shall,
      at
      its sole expense, execute, register and deliver a new Note, in exchange and
      substitution for this Note, if mutilated, or in lieu of and substitution for
      this Note, if destroyed, lost or stolen. In the case of destruction, loss or
      theft, Payee shall furnish to Payor indemnity reasonably satisfactory to Payor,
      and in any such case, Payee shall also furnish to Payor evidence to its
      reasonable satisfaction of the mutilation, destruction, loss or theft of this
      Note and of the ownership thereof. Any replacement Note so issued shall be
      in
      the same outstanding principal amount as this Note and dated the date to which
      interest shall have been paid on this Note or, if no interest shall have yet
      been paid, dated the date of this Note.

     

        5.2    Every
      Note issued pursuant to the provisions of Section 5.1 above in substitution
      for
      this Note shall constitute a contractual obligation of the Payor, whether or
      not
      this Note shall be found at any time or be enforceable by anyone.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

        6.    Covenants
      of Payor.
      

     

        Payor
      covenants and agrees that, so long as this Note remains outstanding and unpaid,
      in whole or in part: 

     

        6.1    Payor
      will not sell, transfer or dispose of a material part of its assets;

     

        6.2    Payor
      will not make any loan to any person who is or becomes a shareholder or
      executive employee of Payor, other than for reasonable advances for expenses
      in
      the ordinary course of business;

     

        6.3    Payor
      will promptly pay and discharge all lawful taxes, assessments and governmental
      charges or levies imposed upon it, its income and profits, or any of its
      property, before the same shall become in default, as well as all lawful claims
      for labor, materials and supplies which, if unpaid, might become a lien or
      charge upon such properties or any part thereof; provided,
      however,
      that
      Payor or such subsidiary shall not be required to pay and discharge any such
      tax, assessment, charge, levy or claim so long as the validity thereof shall
      be
      contested in good faith by appropriate proceedings and Payor or such subsidiary,
      as the case may be, shall set aside on its books adequate reserves (if required
      by generally accepted accounting principles) with respect to any such tax,
      assessment, charge, levy or claim so contested;

     

        6.4    Payor
      will do or cause to be done all things necessary to preserve and keep in full
      force and effect its corporate existence, rights and franchises and
      substantially comply with all laws applicable to Payor as its counsel may
      advise;

     

        6.5    Payor
      will at all times maintain, preserve, protect and keep its property used or
      useful in the conduct of its business in good repair, working order and
      condition (except for the effects of reasonable wear and tear in the ordinary
      course of business) and will, from time to time, make all necessary and proper
      repairs, renewals, replacements, betterments and improvements
      thereto;

     

        6.6    Payor
      will keep adequately insured, by financially sound reputable insurers, all
      property of a character usually insured by similar corporations and carry such
      other insurance as is usually carried by similar corporations;

     

        6.7    Payor
      will, promptly following the occurrence of an Event of Default or of any
      condition or event which, with the giving of notice or the lapse of time or
      both, would constitute an Event of Default, furnish a statement of Payor’s Chief
      Executive Officer or Chief Financial Officer to Payee setting forth the details
      of such Event of Default or condition or event and the action which Payor
      intends to take with respect thereto; 

     

        6.8    Payor
      will, and will cause each of its subsidiaries to, at all times maintain books
      of
      account in which all of its financial transactions are duly recorded in
      conformance with generally accepted accounting principles; 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

        6.9    Payor
      shall not create, incur, assume or suffer to exist any pledge, hypothecation,
      assignment, deposit arrangement, lien, charge, claim, or security interest,
      mortgage, deed of trust, easement or encumbrance, or preference, priority or
      other security agreement or preferential arrangement of any kind or nature
      whatsoever (except for liens for taxes not yet due and payable or being
      contested in good faith, mechanics’ materialmen’s or similar liens, and liens
      securing rental or lease payments, together the “Permitted
      Liens”)
      with
      respect to the assets of Payor or such subsidiary; and

     

        6.10    Payor
      shall not issue any debt, equity or other instrument which would give the holder
      thereof, directly or indirectly, a right in any assets of Payor or such
      subsidiary that are pari passu, senior or superior to any right of the Payee
      in
      or to such assets.

     

        7.    Events
      of Default.
      If
      any of
      the following events (each an “Event
      of Default”)
      occurs:

     

        7.1    The
      dissolution of Payor or any vote in favor thereof by the board of directors
      and
      shareholders of Payor; 

     

        7.2    Payor
      makes an assignment for the benefit of creditors, or files with a court of
      competent jurisdiction an application for appointment of a receiver or similar
      official with respect to it or any substantial part of its assets, or Payor
      files a petition seeking relief under any provision of the Federal Bankruptcy
      Code or any other federal or state statute now or hereafter in effect affording
      relief to debtors, or any such application or petition is filed against Payor,
      which application or petition is not dismissed or withdrawn within thirty (30)
      days from the date of its filing; 

     

        7.3    Payor
      fails to pay the principal amount, or interest on, or any other amount payable
      under, this Note within ten (10) days of the date such amount becomes due and
      payable; 

     

        7.4    Payor
      admits in writing its inability to pay its debts as they mature; 

     

        7.5    Payor
      sells all or substantially all of its assets or merges or is consolidated with
      or into another corporation, other than a merger with or into a publicly traded
      corporation or a merger to change Payor’s jurisdiction of
      incorporation;

     

        7.6    A
      proceeding is commenced to foreclose a security interest or lien in any property
      or assets of Payor as a result of a default in the payment or performance of
      any
      debt (in excess of $50,000 and secured by such property or assets) of Payor
      or
      of any subsidiary of Payor; 

     

        7.7    A
      final
      judgment for the payment of money in excess of $50,000 is entered against Payor
      by a court of competent jurisdiction, and such judgment is not discharged (nor
      the discharge thereof duly provided for) in accordance with its terms, nor
      a
      stay of execution thereof procured, within thirty (30) days after the date
      such
      judgment is entered, and, within such period (or such longer period during
      which
      execution of such judgment is effectively stayed), an appeal therefrom has
      not
      been prosecuted and the execution thereof caused to be stayed during such
      appeal; 

     

        7.8    An
      attachment or garnishment is levied against the assets or properties of Payor
      or
      any subsidiary of Payor involving an amount in excess of $50,000 and such levy
      is not vacated, bonded or otherwise terminated within thirty (30) days after
      the
      date of its effectiveness; 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

        7.9    Payor
      defaults in the due observance or performance of any covenant, condition or
      agreement on the part of Payor to be observed or performed pursuant to the
      terms
      of this Note (other than the default specified in Section 7.3 above) and such
      default continues uncured for a period of thirty (30) days; 

     

        7.10    Payor
      creates, incurs, assumes or suffers to exist any pledge, hypothecation,
      assignment, deposit arrangement, lien, charge, claim, or security interest,
      mortgage, deed of trust, easement or encumbrance, or preference, priority or
      other security agreement or preferential arrangement of any kind or nature
      whatsoever (except permitted Liens) with respect to the assets of Payor or
      such
      subsidiary; or 

     

        7.11    If
      Payor
      issues any debt, equity or other instrument which would give the holder thereof,
      directly or indirectly, a right in any assets of Payor or such subsidiary that
      are senior or superior to any right of the Payee in or to such
      assets.

     

        8.    Suits
      for Enforcement and Remedies.
      Upon the
      occurrence of an Event of Default and Payor’s failure to cure such default, the
      Payee shall have the right, at Payee’s option, to declare the Note Balance to be
      forthwith due and payable, and, in the case of an Event of Default pursuant
      to
      Section 7.3 above, the Payee shall automatically be entitled to full and
      immediate payment of all amounts due under this Note without any action on
      the
      part of or declaration by Payee required. If any one or more Events of Default
      shall occur and be continuing, the Payee further may proceed to (i) protect
      and enforce Payee’s rights either by suit in equity or by action at law, or
      both, whether for the specific performance of any covenant, condition or
      agreement contained in this Note or in any agreement or document referred to
      herein or in aid of the exercise of any power granted in this Note or in any
      agreement or document referred to herein, (ii) enforce the payment of this
      Note, or (iii) enforce any other legal or equitable right of Payee. No
      right or remedy herein or in any other agreement or instrument conferred upon
      Payee is intended to be exclusive of any other right or remedy, and each and
      every such right or remedy shall be cumulative and shall be in addition to
      every
      other right and remedy given hereunder or now or hereafter existing at law
      or in
      equity or by statute or otherwise. 

     

        9.    Unconditional
      Obligation; Fees, Waivers, Other.

     

        9.1    The
      obligations to make the payments provided for in this Note are absolute and
      unconditional and not subject to any defense, set-off, counterclaim, rescission,
      recoupment or adjustment whatsoever.

     

        9.2    If,
      following the occurrence of an Event of Default, Payee shall seek to enforce
      the
      collection of any amount of principal of and/or interest on this Note, there
      shall be immediately due and payable from Payor, in addition to the then unpaid
      principal of, and accrued unpaid interest on, this Note, all costs and expenses
      incurred by Payee in connection therewith, including, without limitation,
      reasonable attorneys’ fees and disbursements.

     

        9.3    No
      forbearance, indulgence, delay or failure to exercise any right or remedy with
      respect to this Note shall operate as a waiver or as an acquiescence in any
      default, nor shall any single or partial exercise of any right or remedy
      preclude any other or further exercise thereof or the exercise of any other
      right or remedy.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

        9.4    This
      Note
      may not be modified or discharged (other than by payment or exchange) except
      by
      a writing duly executed by Payor and Payee; provided
      that no
      material provision of this Note may be amended without the written consent
      of
      the Company and the holders of at least one-half of the aggregate principal
      amount of all of the Notes issued in the Bridge Offering to which this Note
      relates.

     

        9.5    Payor
      hereby expressly waives demand and presentment for payment, notice of
      nonpayment, notice of dishonor, protest, notice of protest, bringing of suit,
      and diligence in taking any action to collect amounts called for hereunder,
      and
      shall be directly and primarily liable for the payment of all sums owing and
      to
      be owing hereon, regardless of and without any notice, diligence, act or
      omission with respect to the collection of any amount called for hereunder
      or in
      connection with any right, lien, interest or property at any and all times
      which
      Payee had or is existing as security for any amount called for hereunder.

        

        10.    Restriction
      on Transfer.
      This
      Note has been acquired for investment, and this Note has not been registered
      under the securities laws of the United States of America or any state thereof,
      including the Act. Accordingly, no interest in this Note may be offered for
      sale, sold or transferred in the absence of registration and qualification
      of
      this Note, under applicable federal and state securities laws, including the
      Act, or an opinion of counsel of Payee reasonably satisfactory to Payor that
      such registration and qualification are not required.

     

        11.    Subordination.
      The
      rights of the Payee hereunder in and to the assets of the Company are hereby
      expressly subordinated to the rights in and to such assets of the holders of
      the
      Company’s Senior Indebtedness, as hereinafter defined. Senior Indebtedness shall
      mean those certain 12% Senior Promissory Notes issued by the Company in its
      $3,000,000 best efforts, no minimum bridge offering completed in May 2007.
      Subject to the rights of the holders of Senior Indebtedness, nothing contained
      in this Section 11 shall impair, as between the Payor and the Payee, the
      obligation of the Payor, subject to the terms and conditions hereof, to pay
      to
      the Payee the principal hereof and interest hereon as and when the same become
      due and payable, or shall prevent the Payee, upon default hereunder, from
      exercising all rights, powers and remedies otherwise provided herein or by
      applicable law.

     

        12.    Piggyback
      Registration Rights.
      If, at
      any time during the two-year period commencing with the issuance of this Note,
      the Payor proposes or is required to file a registration statement registering
      any shares of Common Stock or securities convertible into or exchangeable for
      Common Stock (other than on Form S-4 or Form S-8, or such other forms as the
      U.S. Securities and Exchange Commission may hereafter promulgate for
      registration of securities in transactions for which Form S-4 or Form S-8 may
      be
      used as of the date hereof), whether or not for its own account, the Payor
      shall
      give at least 20 days prior written notice to the Payee of its intention to
      do
      so. Upon written request by the Payee within 10 days after receipt of such
      notice, the Payor shall use its commercially reasonable efforts to include
      in
      the securities to be registered by such registration statement all shares of
      Common Stock issued or issuable upon conversion of this Note (which registration
      right with respect to such conversion shares shall be in addition to any
      registration rights with respect to any shares underlying that certain Warrant,
      dated as of the date hereof, issued by the Payor to the Payee in connection
      with
      Payee’s participation in the Bridge Offering) that the Payee indicates in such
      notice that the Payee desires to sell, subject to the following terms and
      conditions: (i) if such registration statement is for a prospective underwritten
      offering, the Payee shall agree to (a) enter into an underwriting agreement,
      if
      required, in customary form with the underwriter or underwriters selected by
      the
      Company, and (b) sell the Payee’s securities, if the Company so requests, on the
      same basis and upon the same terms as the other securities covered by such
      registration statement, other than securities proposed to be registered by
      the
      holders of the Preferred Stock (as defined below), and provided
      that if
      the number of shares requested by the Payee to be registered in such offering
      exceeds the amount of shares which the underwriters reasonably believe is
      compatible with the success of such underwritten offering, the Company shall
      only be required to include in such offering that number of shares requested
      to
      be registered by the Payee as the underwriters believe will not jeopardize
      the
      success of such offering, provided,
      however
      that any
      such decrease in the number of shares sought to be registered by the Payee
      shall
      occur on a pari
      passu
      basis
      with the other shares being registered, other than any shares proposed to be
      registered by the holders of the Preferred Stock; (ii) if the number of shares
      the Payor is able to register is limited due to Rule 415 or other SEC shelf
      registration rules, Payor shall only be required to register the shares Payee
      elects to convert on a pari
      passu
      basis
      with the other shares being registered, other than any shares proposed to be
      registered by the holders of the Preferred Stock; and (iii) the Payor may
      withdraw any such registration statement before it becomes effective or postpone
      the offering of securities contemplated by such registration statement without
      any obligation to the Payee or any other Payee. The Payor shall have exclusive
      control over the preparation and filing of any registration statement proposed
      to be filed under this Section 12 as well as any amendments and supplements
      thereto and the withdrawal or revocation thereof. The Payor’s obligations
      pursuant to this Section 12 are subject to the Payee’s cooperation with respect
      to any such proposed registration, including but not limited to the provision
      of
      such information as may reasonably be requested by the Payor, the underwriter(s)
      or any other authorized parties and the execution and delivery of such
      agreements (including indemnification and contribution agreements), instruments
      and documents as may be reasonably requested thereby, and the Payee’s compliance
      with all applicable laws. The Payor shall pay all reasonable expenses incurred
      in connection with the registration contemplated hereby, including without
      limitation registration and filing fees, printing expenses, and fees and
      expenses of counsel for the Payor. Notwithstanding the foregoing, underwriting
      discounts and commissions and transfer taxes relating to the Payee’s registered
      securities included in any registration hereunder, and all fees and expenses
      for
      counsel to the Payee, shall be borne and paid by the Payee. The registration
      rights and other rights granted in this Section 12 are not assignable, in whole
      or in part, without the prior written consent of the Payor. Notwithstanding
      anything to the contrary set forth herein, the Payee hereby expressly agrees
      and
      acknowledges that any registration rights of the Payee hereunder are subordinate
      to those of the holders of the Company’s 10% (PIK) Series A Preferred Stock and
      the Company’s 10% (PIK) Series B Preferred Stock (together, the “Preferred
      Stock”) and warrants issued to such holders in connection with the purchase and
      sale of the Preferred Stock.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

          13. Miscellaneous.

    

     

        13.1    The
      headings of the various paragraphs of this Note are for convenience of reference
      only and shall in no way modify any of the terms or provisions of this
      Note.

     

        13.2    All
      notices required or permitted to be given hereunder shall be in writing and
      shall be deemed to have been duly given when personally delivered or sent by
      registered or certified mail (return receipt requested, postage prepaid),
      facsimile transmission or overnight courier to the address of the intended
      recipient as set forth in the preamble to this Note or at such other address
      as
      the intended recipient shall have hereafter given to the other party hereto
      pursuant to the provisions of this Note. Any such notice shall be deemed
      received (i) in the case of personal delivery or delivery by facsimile, on
      the
      date of such delivery, (ii) in the case of overnight courier, on the next
      business day following when sent, and (iii) in the case of mailing, on the
      third
      business day following the date on which the notice was
      post-marked.

     

        13.3    This
      Note
      and the obligations of Payor and the rights of Payee shall be governed by and
      construed in accordance with the substantive laws of the State of California
      without giving effect to the choice of laws rules thereof.

     

        13.4    This
      Note
      shall bind Payor and its successors and assigns. Neither the Payor nor the
      Payee
      may assign this Note without the prior written consent of the other party,
      provided
      that
      under no circumstances may the Payee assign this Note to any individual or
      entity that is a competitor, directly or indirectly, with the
      Payor.

     

    
      	 
	 	
              ASKMENOW,
                INC.

            
	 
	 
	 	
              By:

            	 	 
	 	
              Name:

            	
              Darryl
                Cohen

            	 
	 	
              Title:

            	
              CEO

            	 

    

     

    
      
        
        

      

      
        8

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