Document:

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EXHIBIT 10.2

                          REGISTRATION RIGHTS AGREEMENT

         REGISTRATION RIGHTS AGREEMENT (this "AGREEMENT"), dated as of April 22,
2003, by and between TECHNOLOGY VISIONS GROUP, INC., a Delaware corporation,
(the "COMPANY"), and FUSION CAPITAL FUND II, LLC (together with it permitted
assigns, the "BUYER"). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings set forth in the Common Stock Purchase
Agreement by and between the parties hereto, dated as of the date hereof (as
amended, restated, supplemented or otherwise modified from time to time, the
"PURCHASE AGREEMENT").

                                    WHEREAS:

         A. The Company has agreed, upon the terms and subject to the conditions
of the Purchase Agreement, to issue to the Buyer (i) up to Six Million Dollars
($6,000,000) of the Company's common stock, par value $0.001 per share (the
"COMMON STOCK") (the "PURCHASE SHARES"), and (ii) such number of shares of
Common Stock as is required pursuant to Section 4(f) of the Purchase Agreement
(the "COMMITMENT SHARES"); and

         B. To induce the Buyer to enter into the Purchase Agreement, the
Company has agreed to provide certain registration rights under the Securities
Act of 1933, as amended, and the rules and regulations thereunder, or any
similar successor statute (collectively, the "1933 ACT"), and applicable state
securities laws.

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Buyer hereby agree as follows:

         1.       DEFINITIONS.

                  As used in this Agreement, the following terms shall have the
following meanings:

                  a. "INVESTOR" means the Buyer, any transferee or assignee
thereof to whom a Buyer assigns its rights under this Agreement and who agrees
to become bound by the provisions of this Agreement in accordance with Section 9
and any transferee or assignee thereof to whom a transferee or assignee assigns
its rights under this Agreement and who agrees to become bound by the provisions
of this Agreement in accordance with Section 9.

                  b. "PERSON" means any person or entity including any
corporation, a limited liability company, an association, a partnership, an
organization, a business, an individual, a governmental or political subdivision
thereof or a governmental agency.

                  c. "REGISTER," "REGISTERED," and "REGISTRATION" refer to a
registration effected by preparing and filing one or more registration
statements of the Company in compliance with the 1933 Act and pursuant to Rule
415 under the 1933 Act or any successor rule providing for offering securities
on a continuous basis ("RULE 415"), and the declaration or ordering of
effectiveness of such registration statement(s) by the United States Securities
and Exchange Commission (the "SEC").

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                  d. "REGISTERABLE SECURITIES" means the Purchase Shares which
have been, or which may from time to time be, issued or issuable upon purchases
of the Available Amount under the Purchase Agreement (without regard to any
limitation or restriction on purchases) the Signing Shares, issued or issuable
to the Investor, and the Commitment Shares issued or issuable to the Investor
and any shares of capital stock issued or issuable with respect to the Purchase
Shares, the Commitment Shares the Signing Shares, issued or issuable to the
Investor, or the Purchase Agreement as a result of any stock split, stock
dividend, recapitalization, exchange or similar event or otherwise, without
regard to any limitation on purchases under the Purchase Agreement.

                  e. "REGISTRATION STATEMENT" means the registration statement
of the Company covering the sale of the Registerable Securities.

         2.       REGISTRATION.

                  a. MANDATORY REGISTRATION. The Company shall within ten (10)
Trading Days from the date hereof file with the SEC the Registration Statement.
The Investor and its counsel shall have a reasonable opportunity to review and
comment upon such registration statement or amendment to such registration
statement and any related prospectus prior to its filing with the SEC. Investor
shall furnish all information reasonably requested by the Company for inclusion
therein. The Company shall use its best efforts to have the Registration
Statement or amendment declared effective by the SEC at the earliest possible
date. The Company shall use reasonable best efforts to keep the Registration
Statement effective pursuant to Rule 415 promulgated under the 1933 Act and
available for sales of all of the Registerable Securities at all times until the
earlier of (i) the date as of which the Investor may sell all of the
Registerable Securities without restriction pursuant to Rule 144(k) promulgated
under the 1933 Act (or successor thereto) or (ii) the date on which (A) the
Investor shall have sold all the Registerable Securities and no Available Amount
remains under the Purchase Agreement (the "REGISTRATION PERIOD"). The
Registration Statement (including any amendments or supplements thereto and
prospectuses contained therein) shall not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein, or
necessary to make the statements therein, in light of the circumstances in which
they were made, not misleading.

                  b. RULE 424 PROSPECTUS. The Company shall, as required by
applicable securities regulations, from time to time file with the SEC, pursuant
to Rule 424 promulgated under the 1933 Act, the prospectus and prospectus
supplements, if any, to be used in connection with sales of the Registerable
Securities under the Registration Statement. The Investor and its counsel shall
have a reasonable opportunity to review and comment upon such prospectus prior
to its filing with the SEC. The Investor shall use its reasonable best efforts
to comment upon such prospectus within one (1) Trading Day from the date the
Investor receives the final version of such prospectus.

                  c. SUFFICIENT NUMBER OF SHARES REGISTERED. In the event the
number of shares available under the Registration Statement is insufficient to
cover all of the Registerable Securities, the Company shall amend the
Registration Statement or file a new registration statement (a "NEW REGISTRATION
STATEMENT"), so as to cover all of such Registerable Securities as soon as
practicable, but in any event not later than ten (10) Trading Days after the
necessity therefor arises. The Company shall use it reasonable best efforts to
cause such amendment and/or New Registration Statement to become effective as
soon as practicable following the filing thereof.

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         3. RELATED OBLIGATIONS.

         With respect to the Registration Statement and whenever any
Registerable Securities are to be registered pursuant to Section 2(b) including
on any New Registration Statement, the Company shall use its reasonable best
efforts to effect the registration of the Registerable Securities in accordance
with the intended method of disposition thereof and, pursuant thereto, the
Company shall have the following obligations:

                  a. The Company shall prepare and file with the SEC such
amendments (including post-effective amendments) and supplements to any
registration statement and the prospectus used in connection with such
registration statement, which prospectus is to be filed pursuant to Rule 424
promulgated under the 1933 Act, as may be necessary to keep the Registration
Statement or any New Registration Statement effective at all times during the
Registration Period, and, during such period, comply with the provisions of the
1933 Act with respect to the disposition of all Registerable Securities of the
Company covered by the Registration Statement or any New Registration Statement
until such time as all of such Registerable Securities shall have been disposed
of in accordance with the intended methods of disposition by the seller or
sellers thereof as set forth in such registration statement.

                  b. The Company shall permit the Investor to review and comment
upon the Registration Statement or any New Registration Statement and all
amendments and supplements thereto at least two (2) Trading Days prior to their
filing with the SEC, and not file any document in a form to which Investor
reasonably objects. The Investor shall use its reasonable best efforts to
comment upon the Registration Statement or any New Registration Statement and
any amendments or supplements thereto within two (2) Trading Days from the date
the Investor receives the final version thereof. The Company shall furnish to
the Investor, without charge any correspondence from the SEC or the staff of the
SEC to the Company or its representatives relating to the Registration Statement
or any New Registration Statement.

                  c. Upon request of the Investor, the Company shall furnish to
the Investor, (i) promptly after the same is prepared and filed with the SEC, at
least one copy of such registration statement and any amendment(s) thereto,
including financial statements and schedules, all documents incorporated therein
by reference and all exhibits, (ii) upon the effectiveness of any registration
statement, ten (10) copies of the prospectus included in such registration
statement and all amendments and supplements thereto (or such other number of
copies as the Investor may reasonably request) and (iii) such other documents,
including copies of any preliminary or final prospectus, as the Investor may
reasonably request from time to time in order to facilitate the disposition of
the Registerable Securities owned by the Investor.

                  d. The Company shall use reasonable best efforts to (i)
register and qualify the Registerable Securities covered by a registration
statement under such other securities or "blue sky" laws of such jurisdictions
in the United States as the Investor reasonably requests, (ii) prepare and file
in those jurisdictions, such amendments (including post-effective amendments)
and supplements to such registrations and qualifications as may be necessary to
maintain the effectiveness thereof during the Registration Period, (iii) take
such other actions as may be necessary to maintain such registrations and
qualifications in effect at all times during the Registration Period, and (iv)
take all other actions reasonably necessary or advisable to qualify the
Registerable Securities for sale in such jurisdictions; provided, however, that
the Company shall not be required in connection therewith or as a condition
thereto to (x) qualify to do business in any jurisdiction where it would not
otherwise be required to qualify but for this Section 3(d), (y) subject itself
to general taxation in any such jurisdiction, or (z) file a general consent to

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service of process in any such jurisdiction. The Company shall promptly notify
the Investor who holds Registerable Securities of the receipt by the Company of
any notification with respect to the suspension of the registration or
qualification of any of the Registerable Securities for sale under the
securities or "blue sky" laws of any jurisdiction in the United States or its
receipt of actual notice of the initiation or threatening of any proceeding for
such purpose.

                  e. As promptly as practicable after becoming aware of such
event or facts, the Company shall notify the Investor in writing of the
happening of any event or existence of such facts as a result of which the
prospectus included in any registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading, and
promptly prepare a supplement or amendment to such registration statement to
correct such untrue statement or omission, and deliver ten (10) copies of such
supplement or amendment to the Investor (or such other number of copies as the
Investor may reasonably request). The Company shall also promptly notify the
Investor in writing (i) when a prospectus or any prospectus supplement or
post-effective amendment has been filed, and when a registration statement or
any post-effective amendment has become effective (notification of such
effectiveness shall be delivered to the Investor by facsimile on the same day of
such effectiveness and by overnight mail), (ii) of any request by the SEC for
amendments or supplements to any registration statement or related prospectus or
related information, and (iii) of the Company's reasonable determination that a
post-effective amendment to a registration statement would be appropriate.

                  f. The Company shall use its reasonable best efforts to
prevent the issuance of any stop order or other suspension of effectiveness of
any registration statement, or the suspension of the qualification of any
Registerable Securities for sale in any jurisdiction and, if such an order or
suspension is issued, to obtain the withdrawal of such order or suspension at
the earliest possible moment and to notify the Investor of the issuance of such
order and the resolution thereof or its receipt of actual notice of the
initiation or threat of any proceeding for such purpose.

                  g. The Company shall (i) cause all the Registerable Securities
to be listed on each securities exchange on which securities of the same class
or series issued by the Company are then listed, if any, if the listing of such
Registerable Securities is then permitted under the rules of such exchange, or
(ii) secure designation and quotation of all the Registerable Securities on the
Principal Market. The Company shall pay all fees and expenses in connection with
satisfying its obligation under this Section.

                  h. The Company shall cooperate with the Investor to facilitate
the timely preparation and delivery of certificates (not bearing any restrictive
legend) representing the Registerable Securities to be offered pursuant to any
registration statement and enable such certificates to be in such denominations
or amounts as the Investor may reasonably request and registered in such names
as the Investor may request.

                  i. The Company shall at all times provide a transfer agent and
registrar with respect to its Common Stock.

                  j. If reasonably requested by the Investor, the Company shall
(i) immediately incorporate in a prospectus supplement or post-effective
amendment such information as the Investor believes should be included therein
relating to the sale and distribution of Registerable Securities, including,
without limitation, information with respect to the number of Registerable
Securities being sold, the purchase price being paid therefor and any other
terms of the offering of the Registerable Securities; (ii) make all required
filings of such prospectus supplement or post-effective amendment as soon as
notified of the matters to be incorporated in such prospectus supplement or
post-effective amendment; and (iii) supplement or make amendments to any
registration statement.

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                  k. The Company shall use its reasonable best efforts to cause
the Registerable Securities covered by the any registration statement to be
registered with or approved by such other governmental agencies or authorities
as may be necessary to consummate the disposition of such Registerable
Securities.

                  l. Within one (1) Trading Day after any registration statement
which includes the Registerable Securities is ordered effective by the SEC, the
Company shall deliver, and shall cause legal counsel for the Company to deliver,
to the transfer agent for such Registerable Securities (with copies to the
Investor) confirmation that such registration statement has been declared
effective by the SEC in the form attached hereto as EXHIBIT A.

                  m. The Company shall take all other reasonable actions
necessary to expedite and facilitate disposition by the Investor of Registerable
Securities pursuant to any registration statement.

         4. OBLIGATIONS OF THE INVESTOR.

                  a. The Company shall notify the Investor in writing of the
information the Company reasonably requires from the Investor in connection with
any registration statement hereunder. The Investor shall furnish to the Company
such information regarding itself, the Registerable Securities held by it and
the intended method of disposition of the Registerable Securities held by it as
shall be reasonably required to effect the registration of such Registerable
Securities and shall execute such documents in connection with such registration
as the Company may reasonably request.

                  b. The Investor agrees to cooperate with the Company as
reasonably requested by the Company in connection with the preparation and
filing of any registration statement hereunder.

                  c. The Investor agrees that, upon receipt of any notice from
the Company of the happening of any event or existence of facts of the kind
described in Section 3(f) or the first sentence of 3(e), the Investor will
immediately discontinue disposition of Registerable Securities pursuant to any
registration statement(s) covering such Registerable Securities until the
Investor's receipt of the copies of the supplemented or amended prospectus
contemplated by Section 3(f) or the first sentence of 3(e). Notwithstanding
anything to the contrary, the Company shall cause its transfer agent to promptly
deliver shares of Common Stock without any restrictive legend in accordance with
the terms of the Purchase Agreement in connection with any sale of Registerable
Securities with respect to which an Investor has entered into a contract for
sale prior to the Investor's receipt of a notice from the Company of the
happening of any event of the kind described in Section 3(f) or the first
sentence of 3(e) and for which the Investor has not yet settled.

         5. EXPENSES OF REGISTRATION.

                  All reasonable expenses, other than sales or brokerage
commissions, incurred in connection with registrations, filings or
qualifications pursuant to Sections 2 and 3, including, without limitation, all
registration, listing and qualifications fees, printers and accounting fees, and
fees and disbursements of counsel for the Company, shall be paid by the Company.

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         6.       INDEMNIFICATION.

                  a. To the fullest extent permitted by law, the Company will,
and hereby does, indemnify, hold harmless and defend the Investor, each Person,
if any, who controls the Investor, the members, the directors, officers,
partners, employees, agents, representatives of the Investor and each Person, if
any, who controls the Investor within the meaning of the 1933 Act or the
Securities Exchange Act of 1934, as amended (the "1934 ACT") (each, an
"INDEMNIFIED PERSON"), against any losses, claims, damages, liabilities,
judgments, fines, penalties, charges, costs, attorneys' fees, amounts paid in
settlement or expenses, joint or several, (collectively, "CLAIMS") incurred in
investigating, preparing or defending any action, claim, suit, inquiry,
proceeding, investigation or appeal taken from the foregoing by or before any
court or governmental, administrative or other regulatory agency, body or the
SEC, whether pending or threatened, whether or not an indemnified party is or
may be a party thereto ("INDEMNIFIED DAMAGES"), to which any of them may become
subject insofar as such Claims (or actions or proceedings, whether commenced or
threatened, in respect thereof) arise out of or are based upon: (i) any untrue
statement or alleged untrue statement of a material fact in the Registration
Statement, any New Registration Statement or any post-effective amendment
thereto or in any filing made in connection with the qualification of the
offering under the securities or other "blue sky" laws of any jurisdiction in
which Registerable Securities are offered ("BLUE SKY FILING"), or the omission
or alleged omission to state a material fact required to be stated therein or
necessary to make the statements therein not misleading, (ii) any untrue
statement or alleged untrue statement of a material fact contained in the final
prospectus (as amended or supplemented, if the Company files any amendment
thereof or supplement thereto with the SEC) or the omission or alleged omission
to state therein any material fact necessary to make the statements made
therein, in light of the circumstances under which the statements therein were
made, not misleading, (iii) any violation or alleged violation by the Company of
the 1933 Act, the 1934 Act, any other law, including, without limitation, any
state securities law, or any rule or regulation thereunder relating to the offer
or sale of the Registerable Securities pursuant to the Registration Statement or
any New Registration Statement or (iv) any material violation by the Company of
this Agreement (the matters in the foregoing clauses (i) through (iv) being,
collectively, "VIOLATIONS"). The Company shall reimburse each Indemnified Person
promptly as such expenses are incurred and are due and payable, for any legal
fees or other reasonable expenses incurred by them in connection with
investigating or defending any such Claim. Notwithstanding anything to the
contrary contained herein, the indemnification agreement contained in this
Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising
out of or based upon a Violation which occurs in reliance upon and in conformity
with information furnished in writing to the Company by such Indemnified Person
expressly for use in connection with the preparation of the Registration
Statement, any New Registration Statement or any such amendment thereof or
supplement thereto, if such prospectus was timely made available by the Company
pursuant to Section 3(c) or Section 3(e); (ii) with respect to any superceded
prospectus, shall not inure to the benefit of any such person from whom the
person asserting any such Claim purchased the Registerable Securities that are
the subject thereof (or to the benefit of any person controlling such person) if
the untrue statement or omission of material fact contained in the superceded
prospectus was corrected in the revised prospectus, as then amended or
supplemented, if such revised prospectus was timely made available by the
Company pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was
promptly advised in writing not to use the incorrect prospectus prior to the use
giving rise to a violation and such Indemnified Person, notwithstanding such
advice, used it; (iii) shall not be available to the extent such Claim is based
on a failure of the Investor to deliver or to cause to be delivered the
prospectus made available by the Company, if such prospectus was timely made
available by the Company pursuant to Section 3(c) or Section 3(e); and (iv)
shall not apply to amounts paid in settlement of any Claim if such settlement is
effected without the prior written consent of the Company, which consent shall
not be unreasonably withheld. Such indemnity shall remain in full force and
effect regardless of any investigation made by or on behalf of the Indemnified
Person and shall survive the transfer of the Registerable Securities by the
Investor pursuant to Section 9.

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                  b. In connection with the Registration Statement or any New
Registration Statement, the Investor agrees to severally and not jointly
indemnify, hold harmless and defend, to the same extent and in the same manner
as is set forth in Section 6(a), the Company, each of its directors, each of its
officers who signs the Registration Statement or any New Registration Statement,
each Person, if any, who controls the Company within the meaning of the 1933 Act
or the 1934 Act (collectively and together with an Indemnified Person, an
"INDEMNIFIED PARTY"), against any Claim or Indemnified Damages to which any of
them may become subject, under the 1933 Act, the 1934 Act or otherwise, insofar
as such Claim or Indemnified Damages arise out of or are based upon any
Violation, in each case to the extent, and only to the extent, that such
Violation occurs in reliance upon and in conformity with written information
about the Investor set forth on EXHIBIT B attached hereto and furnished to the
Company by the Investor expressly for use in connection with such registration
statement; and, subject to Section 6(d), the Investor will reimburse any legal
or other expenses reasonably incurred by them in connection with investigating
or defending any such Claim; provided, however, that the indemnity agreement
contained in this Section 6(b) and the agreement with respect to contribution
contained in Section 7 shall not apply to amounts paid in settlement of any
Claim if such settlement is effected without the prior written consent of the
Investor, which consent shall not be unreasonably withheld; provided, further,
however, that the Investor shall be liable under this Section 6(b) for only that
amount of a Claim or Indemnified Damages as does not exceed the net proceeds to
the Investor as a result of the sale of Registerable Securities pursuant to such
registration statement. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of such Indemnified Party
and shall survive the transfer of the Registerable Securities by the Investor
pursuant to Section 9.

                  c. Promptly after receipt by an Indemnified Person or
Indemnified Party under this Section 6 of notice of the commencement of any
action or proceeding (including any governmental action or proceeding) involving
a Claim, such Indemnified Person or Indemnified Party shall, if a Claim in
respect thereof is to be made against any indemnifying party under this Section
6, deliver to the indemnifying party a written notice of the commencement
thereof, and the indemnifying party shall have the right to participate in, and,
to the extent the indemnifying party so desires, jointly with any other
indemnifying party similarly noticed, to assume control of the defense thereof
with counsel mutually satisfactory to the indemnifying party and the Indemnified
Person or the Indemnified Party, as the case may be; provided, however, that an
Indemnified Person or Indemnified Party shall have the right to retain its own
counsel with the fees and expenses to be paid by the indemnifying party, if, in
the reasonable opinion of counsel retained by the indemnifying party, the
representation by such counsel of the Indemnified Person or Indemnified Party
and the indemnifying party would be inappropriate due to actual or potential
differing interests between such Indemnified Person or Indemnified Party and any
other party represented by such counsel in such proceeding. The Indemnified
Party or Indemnified Person shall cooperate fully with the indemnifying party in
connection with any negotiation or defense of any such action or claim by the
indemnifying party and shall furnish to the indemnifying party all information
reasonably available to the Indemnified Party or Indemnified Person which
relates to such action or claim. The indemnifying party shall keep the
Indemnified Party or Indemnified Person fully apprised at all times as to the
status of the defense or any settlement negotiations with respect thereto. No
indemnifying party shall be liable for any settlement of any action, claim or
proceeding effected without its written consent, provided, however, that the
indemnifying party shall not unreasonably withhold, delay or condition its
consent. No indemnifying party shall, without the consent of the Indemnified
Party or Indemnified Person, consent to entry of any judgment or enter into any
settlement or other compromise which does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such Indemnified Party or

<PAGE>

Indemnified Person of a release from all liability in respect to such claim or
litigation. Following indemnification as provided for hereunder, the
indemnifying party shall be subrogated to all rights of the Indemnified Party or
Indemnified Person with respect to all third parties, firms or corporations
relating to the matter for which indemnification has been made. The failure to
deliver written notice to the indemnifying party within a reasonable time of the
commencement of any such action shall not relieve such indemnifying party of any
liability to the Indemnified Person or Indemnified Party under this Section 6,
except to the extent that the indemnifying party is prejudiced in its ability to
defend such action.

                  d. The indemnification required by this Section 6 shall be
made by periodic payments of the amount thereof during the course of the
investigation or defense, as and when bills are received or Indemnified Damages
are incurred.

                  e. The indemnity agreements contained herein shall be in
addition to (i) any cause of action or similar right of the Indemnified Party or
Indemnified Person against the indemnifying party or others, and (ii) any
liabilities the indemnifying party may be subject to pursuant to the law.

         7.       CONTRIBUTION.

                  To the extent any indemnification by an indemnifying party is
prohibited or limited by law, the indemnifying party agrees to make the maximum
contribution with respect to any amounts for which it would otherwise be liable
under Section 6 to the fullest extent permitted by law; provided, however, that:
(i) no seller of Registerable Securities guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the 1933 Act) shall be entitled to
contribution from any seller of Registerable Securities who was not guilty of
fraudulent misrepresentation; and (ii) contribution by any seller of
Registerable Securities shall be limited in amount to the net amount of proceeds
received by such seller from the sale of such Registerable Securities.

         8.       REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.

                  With a view to making available to the Investor the benefits
of Rule 144 promulgated under the 1933 Act or any other similar rule or
regulation of the SEC that may at any time permit the Investor to sell
securities of the Company to the public without registration ("RULE 144"), the
Company agrees, at the Company's sole expense, to:

                  a. make and keep public information available, as those terms
are understood and defined in Rule 144;

                  b. file with the SEC in a timely manner all reports and other
documents required of the Company under the 1933 Act and the 1934 Act so long as
the Company remains subject to such requirements and the filing of such reports
and other documents is required for the applicable provisions of Rule 144; and

                  c. furnish to the Investor so long as the Investor owns
Registerable Securities, promptly upon request, (i) a written statement by the
Company that it has complied with the reporting and or disclosure provisions of
Rule 144, the 1933 Act and the 1934 Act, (ii) a copy of the most recent annual
or quarterly report of the Company and such other reports and documents so filed
by the Company, and (iii) such other information as may be reasonably requested
to permit the Investor to sell such securities pursuant to Rule 144 without
registration.
<PAGE>

                  d. take such additional action as is requested by the Investor
to enable the Investor to sell the Registerable Securities pursuant to Rule 144,
including, without limitation, delivering all such legal opinions, consents,
certificates, resolutions and instructions to the Company's Transfer Agent as
may be requested from time to time by the Investor and otherwise fully cooperate
with Investor and Investor's broker to effect such sale of securities pursuant
to Rule 144.

                  The Company agrees that damages may be an inadequate remedy
for any breach of the terms and provisions of this Section 8 and that Investor
shall, whether or not it is pursuing any remedies at law, be entitled to
equitable relief in the form of a preliminary or permanent injunctions, without
having to post any bond or other security, upon any breach or threatened breach
of any such terms or provisions.

         9.       ASSIGNMENT OF REGISTRATION RIGHTS.

                  The Company shall not assign this Agreement or any rights or
obligations hereunder without the prior written consent of the Investor,
including by merger or consolidation. The Investor may not assign its rights
under this Agreement without the written consent of the Company, other than to
an affiliate of the Investor controlled by Steven G. Martin or Joshua B.
Scheinfeld.

         10.      AMENDMENT OF REGISTRATION RIGHTS.

                  Provisions of this Agreement may be amended and the observance
thereof may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company
and the Investor.

         11.      MISCELLANEOUS.

                  a. A Person is deemed to be a holder of Registerable
Securities whenever such Person owns or is deemed to own of record such
Registerable Securities. If the Company receives conflicting instructions,
notices or elections from two or more Persons with respect to the same
Registerable Securities, the Company shall act upon the basis of instructions,
notice or election received from the registered owner of such Registerable
Securities.

                  b. Any notices, consents, waivers or other communications
required or permitted to be given under the terms of this Agreement must be in
writing and will be deemed to have been delivered: (i) upon receipt, when
delivered personally; (ii) upon receipt, when sent by facsimile (provided
confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one (1) Trading Day after deposit
with a nationally recognized overnight delivery service, in each case properly
addressed to the party to receive the same. The addresses and facsimile numbers
for such communications shall be:

         If to the Company:
                  Technology Visions Group, Inc.
                  5950 La Place Court, Suite 155
                  Carlsbad, CA 92008-8843
                  Telephone:        (760) 918-9168
                  Facsimile:        (760) 918-9213
                  Attention:        James A. Giansiracusa

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         With a copy to:
                  Weed & Co. LLP
                  4695 MacArthur Court, Suite 1430
                  Newport Beach, CA 92660

                  Telephone:        (949) 475-9086
                  Facsimile:        (949) 475-9087
                  Attention:        April E. Frisby

         If to the Investor:
                  Fusion Capital Fund II, LLC
                  222 Merchandise Mart Plaza, Suite 9-112
                  Chicago, IL 60654
                  Telephone:        312-644-6644
                  Facsimile:        312-644-6244
                  Attention:        Steven G.  Martin

or at such other address and/or facsimile number and/or to the attention of such
other person as the recipient party has specified by written notice given to
each other party three (3) Trading Days prior to the effectiveness of such
change. Written confirmation of receipt (A) given by the recipient of such
notice, consent, waiver or other communication, (B) mechanically or
electronically generated by the sender's facsimile machine containing the time,
date, recipient facsimile number and an image of the first page of such
transmission or (C) provided by a nationally recognized overnight delivery
service, shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

                  c. Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or
remedy, shall not operate as a waiver thereof.

                  d. The corporate laws of the State of Delaware shall govern
all issues concerning the relative rights of the Company and its stockholders.
All other questions concerning the construction, validity, enforcement and
interpretation of this Agreement shall be governed by the internal laws of the
State of Illinois, without giving effect to any choice of law or conflict of law
provision or rule (whether of the State of Illinois or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the
State of Illinois. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting the City of Chicago, for
the adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of any such court, that
such suit, action or proceeding is brought in an inconvenient forum or that the
venue of such suit, action or proceeding is improper. Each party hereby
irrevocably waives personal service of process and consents to process being
served in any such suit, action or proceeding by mailing a copy thereof to such
party at the address for such notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any manner permitted by law. If any provision of this
Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or unenforceability shall not affect the validity or enforceability of the
remainder of this Agreement in that jurisdiction or the validity or
enforceability of any provision of this Agreement in any other jurisdiction.
EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREBY.

<PAGE>

                  e. This Agreement, and the Purchase Agreement constitute the
entire agreement among the parties hereto with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or
undertakings, other than those set forth or referred to herein and therein. This
Agreement and the Purchase Agreement supersede all prior agreements and
understandings among the parties hereto with respect to the subject matter
hereof and thereof.

                  f. Subject to the requirements of Section 9, this Agreement
shall inure to the benefit of and be binding upon the permitted successors and
assigns of each of the parties hereto.

                  g. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

                  h. This Agreement may be executed in identical counterparts,
each of which shall be deemed an original but all of which shall constitute one
and the same agreement. This Agreement, once executed by a party, may be
delivered to the other party hereto by facsimile transmission of a copy of this
Agreement bearing the signature of the party so delivering this Agreement.

                  i. Each party shall do and perform, or cause to be done and
performed, all such further acts and things, and shall execute and deliver all
such other agreements, certificates, instruments and documents, as the other
party may reasonably request in order to carry out the intent and accomplish the
purposes of this Agreement and the consummation of the transactions contemplated
hereby.

                  j. The language used in this Agreement will be deemed to be
the language chosen by the parties to express their mutual intent and no rules
of strict construction will be applied against any party.

                  k. This Agreement is intended for the benefit of the parties
hereto and their respective permitted successors and assigns, and is not for the
benefit of, nor may any provision hereof be enforced by, any other Person.

                                   * * * * * *

<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Registration Rights
Agreement to be duly executed as of day and year first above written.

                                             THE COMPANY:

                                             TECHNOLOGY VISIONS GROUP, INC.

                                             By: \s\ James B. Lahey
                                                 -------------------------------
                                                 Name: James B. Lahey
                                                 Title: President

                                             BUYER:

                                             FUSION CAPITAL FUND II, LLC
                                             BY: FUSION CAPITAL PARTNERS, LLC
                                             BY: SGM HOLDINGS CORP.

                                             By: \s\ Steven G. Martin
                                                 -------------------------------
                                                 Name: Steven G. Martin
                                                 Title: President<PAGE>

                                                                   EXHIBIT 10.23

                         AGREEMENT OF PURCHASE AND SALE

         THIS AGREEMENT OF PURCHASE AND SALE (this "Agreement") is made and
entered into this 23rd day of December, 2002, by and between Georgina Louise
Sangster ("Seller"), William Purton, Dolphin Advanced Technologies Pty Ltd. and
Dolphin Products Pty Ltd. (collectively, "Guarantor"), and VendingData
Corporation, a Nevada corporation ("Buyer").

                                    RECITALS

         WHEREAS, Buyer and Seller have negotiated the purchase and sale of all
tangible and intangible assets that relate to an electromechanical playing card
deck verification device and Optical Character Verification ("OCV") technology
under the registered name DeckChecker(R) and the associated vault tooling (the
"DeckChecker(R)") and described in Exhibit "A" attached hereto and incorporated
herein by this reference;

             WHEREAS, Seller is the owner of certain assets relating to the
DeckChecker(R), being certain unencumbered tangible personal property,
equipment, tools, parts, supplies, raw materials, manufacturing documents,
Gerber files, sources and parts lists, related financial statements, product
literature, finished goods, and works-in-progress (collectively the "Tangible
Personal Property") and all intellectual property being all patents, unpatented
inventions, patent interference proceedings, rights under patent cooperation
treatises, patent applications, patent rights, inventions, trade secrets,
processes, proprietary rights, proprietary knowledge, computer software,
registered trademarks, names, service marks, trade names, registered copyrights,
symbols, logos, franchises, blueprints and permits and all applications
therefor, registrations thereof and licenses, sublicenses or agreements in
respect thereof, which Seller owns or has the right to use, and all transferable
filings, registrations or issuances of any of the foregoing with or by any
federal, state, local or foreign regulatory, administrative or governmental
office, rights under technology licenses, choses-in-action, information
contained in computer media (such as data bases, source and object codes and
information therein) and derivatives thereof, including the right to make, use,
and vend goods utilizing any of the foregoing, together with all cash and
non-cash proceeds and products thereof, including the Intellectual Property
listed on Exhibit "B" attached hereto and incorporated herein by this reference
(collectively, the "Intellectual Property");

         WHEREAS, the parties wish to enter into a definitive agreement pursuant
to which Buyer shall buy, and Seller shall sell the Tangible Personal Property
and the Intellectual Property (the "Acquired Assets").

<PAGE>

                                    AGREEMENT

         In consideration of the recitals set forth above and the mutual
covenants and promises set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties covenant that the foregoing Recitals are true and correct and further
agree as follows:

1.       SALE OF PROPERTY

         Subject to the terms and conditions set forth in this Agreement, Seller
shall sell, convey, transfer, assign and deliver to Buyer, and Buyer shall
purchase from Seller, all right, title and interest of Seller in and to the
Acquired Assets.

2.       LIABILITIES NOT ASSUMED
         a.)      Buyer acknowledges that Guarantor has, prior to the date of
                  this Agreement, sold independently thirty (30)
                  fully-operational units of the DeckChecker(R) ("pre-sold
                  units"). Warranties were provided at the date of sale of these
                  machines, which primarily required Guarantor to:
                  ii.      Warrant the mechanics of each unit for a period of 12
                           months;
                  iii.     Warrant the electronics on each unit for a period of
                           6 months.
         b.)      Seller undertakes that no warranties remain in force in
                  respect of these machines.
         c.)      Buyer acknowledges that neither Seller nor Guarantor can
                  continue to service, support and maintain the pre-sold units
                  if and when requests are made by the purchasers of same, as to
                  provide ongoing service would constitute a default under this
                  Agreement.
         d.)      Guarantor undertakes to advise the owners of pre-sold units
                  that the Buyer, or their authorized Agent, shall provide
                  ongoing service, support and maintenance of the pre-sold
                  units.
         e.)      Except as above, Buyer shall not, by the execution of this
                  Agreement or the consummation of the transaction contained
                  herein, assume or otherwise be responsible for any liability
                  or obligation of any nature of Seller or Guarantor, or any
                  claims of liability or obligation, matured or unmatured,
                  liquidated or unliquidated, fixed or contingent, or known or
                  unknown, whether arising out of occurrences prior to, at or
                  after the date hereof.

3.       PURCHASE PRICE
         (a)      The total purchase price (the "Purchase Price") and any other
                  transactions under this Agreement shall be payable in US
                  dollars. The Purchase Price for the Acquired Assets shall be
                  One Million Nine Thousand Eight Hundred Dollars (US)
                  ($1,009,800) in cash, payable as follows:
                  (i)      Five Hundred Four Thousand Nine Hundred Dollars
                           ($504,900), which shall be non-refundable and which
                           shall be due upon Buyer's successful production, at
                           Buyer's Las Vegas, Nevada facility of five (5)
                           fully-operational and "universal" units of the
                           DeckChecker(R) (the "First Payment"); and;

                                       2

<PAGE>

                  (ii)     Five Hundred Four Thousand Nine Hundred Dollars
                           ($504,900) which shall be non-refundable and which
                           shall be due within six (6) months of the date on
                           which Buyer tenders the first payment described
                           above, to Seller(the "Second Payment")
                  (iii)    For the avoidance of doubt, Buyer acknowledges that
                           should the Buyer default on its obligations under
                           this Agreement, including making the Second Payment,
                           title to the Acquired Assets in addition to the First
                           Payment and any other payments made, shall remain
                           fully the property of Seller.
         (b)      For purposes of this Agreement, "universal" shall mean that
                  the unit has the ability to recognize jumbo index, jumbo
                  chart, and standard index playing cards without changing the
                  camera lens configuration, software, or power supply.

4.       THE PROVISION OF ASSISTANCE
         (a)      Guarantor will do everything in its power, and exert its best
                  efforts, to assist Buyer with its technical knowledge,
                  know-how, training and advice as may be required for Buyer to
                  assemble seventy-five (75) fully-operational and "universal"
                  units. In this regard it is noted that:
                  i.       The first 100 hours of assistance provided by the
                           Guarantor shall be provided at the Guarantor's
                           expense. Any assistance provided thereafter shall be
                           by negotiation between the Buyer and Dolphin Advanced
                           Technologies Pty Ltd.
                  ii.      For the avoidance of doubt, Buyer acknowledges that
                           it does not require Guarantor to exert its best
                           efforts to assist Buyer with its technical knowledge,
                           know-how, training and advice as may be required
                           beyond the date that the Second Payment falls due.

5.       THE PURCHASE OF INVENTORY
         (a)      Buyer acknowledges that Seller owns and has in its possession
                  six (6) fully- operational units of the DeckChecker(R) in
                  addition to a complement of spare parts (the "Inventory"). In
                  addition to the Purchase Price, the Buyer shall:
                  i.       Purchase the Inventory of Seller for the
                           non-refundable amount of Thirty Five Thousand Dollars
                           ($35,000)
                  ii.      Acknowledge that the Seller reserves the right to
                           sell up to ten (10) fully-operational units of the
                           DeckChecker(R) for the purposes of recouping the
                           costs of its Inventory. No such sale shall constitute
                           a default under this Agreement.
         (b)      Should Buyer elect to purchase the Inventory, Buyer
                  acknowledges that the cost of any upgrades or modifications to
                  the Inventory shall be borne by Buyer.
         (c)      Should Buyer elect to purchase the Inventory, payment for the
                  Inventory will become due thirty (30) days from the date of
                  invoice by Seller.

6.       DELIVERY OF VAULT TOOLING
         (a)      Buyer shall purchase vault tooling from the Seller for the sum
                  of $9,800.00 in addition to the Purchase Price. This vault
                  tooling comprises three (3) tools, one (1) each for body,
                  sliding lid and location button (the "Vault Tooling").

                                       3

<PAGE>

         (b)      If Buyer requires delivery of the Vault Tooling to its
                  premises or other nominated location before Buyer has tendered
                  to Seller the First Payment, then Buyer will immediately pay
                  Seller the amount of Four Thousand Nine Hundred Dollars
                  ($4,900) (the "First Vault Payment"). Upon receipt of the
                  amount of Four Thousand Nine Hundred Dollars ($4,900), Seller
                  will release the Vault Tooling to Buyer and will have
                  delivered the Vault Tooling according to the instructions of
                  Buyer.
         (c)      Buyer shall tender to Seller, within thirty (30) days of the
                  First Vault Payment, an additional payment of Four Thousand
                  Nine Hundred ($4,900) (the "Second Vault Payment").
         (d)      The cost of insurance and transport of said tooling will be
                  entirely the responsibility of Buyer.
         (e)      Should either the First Payment or Second Payment foreshadowed
                  in Section 3 not be attended to, Buyer shall be responsible
                  for the delivery and return of any and all Vault Tooling
                  provided in accordance with this Section.

7.       REPRESENTATIONS AND WARRANTIES OF SELLER

As further consideration for Buyer to enter into this Agreement, Seller
represents and warrants to Buyer that the statements contained in this section
are, and, at Closing, will be, true, correct and complete:

         (a)      AUTHORITY. Seller has the full right and authority to enter
                  into this Agreement and to consummate the transactions
                  contemplated by this Agreement. The representatives of Seller
                  executing this Agreement have full authority to do so.
         (b)      TITLE. Seller shall deliver to the Buyer the Acquired Assets
                  with good and marketable title.
         (c)      EXECUTION AND DELIVERY. The execution and delivery of this
                  Agreement and other related documents by Seller, and the
                  performance by Seller of the transactions contemplated herein
                  will be binding upon Seller in accordance with their
                  respective terms.
         (d)      CONFLICT. The execution and performance of this Agreement and
                  other related documents by Seller will not result in any
                  violation of, or be in conflict with, any term or provision of
                  (i) any contract to which Seller is a party, or (ii) any law,
                  ordinance, rule, statute, order, judgment or decree to which
                  Seller and Guarantor are subject.
         (e)      NO VIOLATION. Neither the execution of this Agreement nor the
                  transactions contemplated by this Agreement shall violate any
                  of the terms and conditions of any agreement giving any person
                  or entity rights in the Acquired Assets.
         (f)      COMPLIANCE WITH LAWS. Seller has complied and is in compliance
                  in all material respects with all laws, statutes, ordinances,
                  orders, rules, regulations, polices and guidelines
                  promulgated, and all judgments, decisions and orders entered,
                  by any federal, state, local or foreign court or governmental
                  authority or instrumentality that are applicable or related to
                  Seller or the Acquired Assets.

                                       4

<PAGE>

         (g)      INTELLECTUAL PROPERTY. Seller is the sole and exclusive owner
                  of all right, title and interest in and to the Intellectual
                  Property, free and clear of all liens whatsoever. Except
                  insofar as application has been made by Seller for Trade Mark
                  protection as contained in Exhibit B, which applications shall
                  be discontinued if requested by Buyer, there is not pending or
                  threatened any investigation, proceeding, inquiry or other
                  review by any federal, state, local or foreign regulatory,
                  administrative or governmental office or offices with respect
                  to Seller's right, title or interest in any Intellectual
                  property. None of Seller's rights to the Intellectual Property
                  infringes upon or violates the rights of any other person, or
                  is subject to challenge, claims of infringement, unfair
                  competition or other claims, and no product, process, method
                  or operation presently manufactured, sold, subject to testing,
                  under development, otherwise engaged in or employed by Seller
                  infringes upon any rights owned by and other person. There are
                  no pending or threatened claims or litigation against Seller
                  contesting the right of the Seller to sell, engage in or
                  employ any such product, process, method or operation. Seller
                  has the exclusive right to own, use and license others to use
                  the computer software (the "Software") relating to the
                  DeckChecker(R). Seller has not licensed or otherwise
                  authorized any other person to use or make use of all or any
                  part of the Software, nor has Seller granted, assigned or
                  otherwise conveyed any right in or to the Software.
         (h)      APPROVALS. No consent, approval, authorization of, or
                  exemption by, or filing with, any governmental authority is
                  required to be obtained or made by Seller in connection with
                  the execution, delivery and performance by Seller and
                  Guarantor of this Agreement and the consummation of the
                  transactions contemplated hereby.
         (i)      UNTRUE STATEMENT OR OMISSION. No representation or warranty by
                  Seller or Guarantor in this Agreement contains, or will
                  contain as of the Closing, any untrue statement of a material
                  fact, or omits, or will omit, as of the Closing, a material
                  fact necessary to make the statements contained herein not
                  misleading.

8.       REPRESENTATIONS AND WARRANTIES OF BUYER

Buyer represents and warrants to Seller as follows:

         (a.)     ORGANIZATION AND GOOD STANDING. Buyer is a corporation duly
                  organized, validly existing and in good standing under the
                  laws of the State of Nevada and has the corporate power and
                  authority to conduct its business as presently conducted and
                  to own and hold the properties used in connection with the
                  conduct of its business.
         (b.)     NO VIOLATION. The execution and performance of this Agreement
                  by Buyer will not result in any violation of, or be in
                  conflict with, any term or provision of (i) the articles of
                  incorporation or bylaws of Buyer, (ii) any contract to which
                  Buyer is a party, or (iii) to the best of Buyer's knowledge,
                  any law, ordinance, rule, statute, order, judgment or decree
                  to which Buyer is subject.

                                       5

<PAGE>

         (c.)     UNTRUE STATEMENT OR OMISSION. No representation or warranty by
                  Buyer in this Agreement contains, or will contain as of the
                  Closing, any untrue statement of a material fact, or omits, or
                  will omit as of the Closing, a material fact necessary to make
                  the statements contained herein not misleading.

9.       COVENANTS OF THE PARTIES

         (a)      REASONABLE EFFORTS. Each party shall, in good faith, use all
                  reasonable efforts to take all actions and do all things
                  necessary, proper or advisable to consummate the transactions
                  contemplated by this Agreement including, without limitation,
                  using all reasonable efforts to cause the conditions set forth
                  in Section 10 of this Agreement for which such party is
                  responsible to be satisfied as soon as reasonably practicable
                  and to prepare, execute, acknowledge or verify, deliver and
                  file such additional documents, and take or cause to be taken
                  such additional actions, as the other party may reasonably
                  request to carry out the purposes or intent of this Agreement,
                  both before and after Closing.
         (b)      GOVERNMENTAL MATTERS. Each party shall, in good faith, use all
                  reasonable efforts to take any additional action that may be
                  necessary, proper or advisable in connection with any other
                  notices to, filings with, and authorizations, consents and
                  approvals of any court, administrative agency or commission,
                  or other governmental authority or instrumentality that it may
                  be required to give, make or obtain.

10.      CONDITIONS PRECEDENT

The obligation of Buyer to close the transactions contemplated by this Agreement
is subject to the satisfaction of each of the following conditions prior to the
date of the Closing, any of which may be waived only through an express writing
by Buyer:

         (a)      REPRESENTATIONS AND WARRANTIES. The representations and
                  warranties of Seller set forth in this Agreement shall be true
                  and correct as of the date of this Agreement and as of the
                  Closing. Seller shall have delivered to Buyer a certificate
                  affirming that all such representations and warranties are
                  true and correct as of the Closing Date.

         (b)      PERFORMANCE OF THE AGREEMENT. Seller shall have performed and
                  observed in all material respects all obligations and
                  conditions to be performed or observed by him under this
                  Agreement at or prior to the Closing.

         (c)      CONSENTS REQUIRED FOR TRANSACTION. All consents, approvals,
                  waivers and releases from third parties for the consummation
                  of the transactions contemplated by this Agreement shall have
                  been validly obtained, and these consents, approvals, waivers
                  and releases shall be in full force and effect. Seller shall
                  provide evidence that these third party consents, approvals,
                  waivers, and releases have been obtained, as Buyer may
                  require.

                                       6

<PAGE>

11.      CLOSING

         (a)      THE CLOSING. The closing of this transaction (the "Closing")
                  under this Agreement for the purchase and sale of the Acquired
                  Assets shall be held at 6830 Spencer Street, Las Vegas, Nevada
                  at 2:00 p.m., Las Vegas, Nevada time on Dec. 23, 2002 (the
                  "Closing Date"). The official transfer time of the Acquired
                  Assets, and the time at which Buyer shall be deemed to have
                  acquired the Acquired Assets as its own shall be 2:00 p.m. on
                  the Closing Date.

         (b)      DELIVERIES AT THE CLOSING. On the Closing Date, Seller hereby
                  agrees to deliver to Buyer a Bill of Sale and Assignment in
                  the form attached hereto as Exhibit "C."

         (d)      EXECUTION OF DOCUMENTS. The Closing may be accomplished in
                  person, by facsimile, overnight courier, telephone conference
                  or as otherwise agreed by the parties.

12.      INDEMNITY

         (a)      INDEMNIFICATION OF SELLER. Buyer agrees to indemnify, defend
                  and hold Seller and its assigns harmless from and against any
                  and all claims, actions, damages, liability, costs and
                  expenses (including reasonable attorneys' fees) arising from
                  or out of: (i) any occurrence caused by the act or omission of
                  Buyer, its employees or agents; (ii) any violation of any law,
                  regulation or ordinance applicable to Buyer; or (iii) any
                  breach or violation of the terms of this Agreement by Buyer.
                  Buyer shall not incur any defense costs for Seller's account
                  without Seller's prior written consent.

         (b)      INDEMNIFICATION OF BUYER. Seller agrees to indemnify, defend
                  and hold Buyer, and its respective officers, employees,
                  directors and stockholders, harmless from and against any and
                  all claims, actions, damages, liability, costs and expenses
                  (including reasonable attorneys' fees) arising from or out of:
                  (i) any occurrence caused by the act or omission of Seller or
                  its agents; (ii) any violation of any law, regulation or
                  ordinance applicable to Seller; or (iii) any breach or
                  violation of the terms of this Agreement by Seller. Seller
                  shall not incur any defense costs for Buyer's account without
                  Buyer's prior written consent.

13.      NONCOMPETITION COVENANT

Seller recognizes that the covenants not to compete as contained in this Section
10 are an essential part of this Agreement and that, but for the agreement of
Seller to comply with such covenants, Buyer would not have entered into this
Agreement. Seller acknowledges and agrees that this covenant not to compete is a
necessary element of this Agreement and that irrevocable harm and damage will be
done to Buyer if Seller competes with a product similar to the DeckChecker(R).
Seller accordingly covenants and agrees that commencing on the date upon which
the Closing takes place and for a period of sixty (60) months thereafter (the
"Term"), Seller will not own, manage, operate, join, control, participate in, or
be connected with, as a stockholder, partner, consultant, or otherwise, any
business, individual, partner, firm, corporation or other entity, which is then
in direct competition with the DeckChecker(R). Until the end of the Term, Seller
will not directly solicit any of Buyer's employees to work for or invest in, as
the case may be, any business, individual, partnership, firm, corporation or any
other entity then in direct competition with the DeckChecker(R). Should any
portion of this Section 10 be deemed unenforceable because of the scope,
duration or territory encompassed by the undertaking of Seller hereunder, and
only in such event, then Seller and Buyer consent and agree to such limitation
on scope, duration or territory as may be finally adjudicated as enforceable by
a court of competent jurisdiction after exhaustion of all appeals.

                                       7

<PAGE>

14.      GENERAL PROVISIONS

         (a)      EXPENSES. Seller and Buyer each shall, whether or not the
                  transactions contemplated by this Agreement are consummated,
                  pay their own respective legal fees and other expenses
                  incurred in connection with the proposed transaction.
         (b)      BROKERS. Each party represents and warrants to the other that
                  there is no broker or finder retained by such party in
                  connection with the transactions contemplated by this
                  Agreement. Each party agrees to indemnify and hold the other
                  harmless from and against all liabilities or claims
                  (including, without limitation, costs and attorneys' fees)
                  that may be asserted against the other by reason of a claim
                  for compensation by any person, firm or corporation introduced
                  by the indemnifying party in connection with the transactions
                  contemplated hereunder.
         (c)      NOTICES. All notices and other communication under this
                  Agreement to any party shall be in writing and shall be deemed
                  given when delivered personally to that party, transmitted via
                  facsimile (with electronic confirmation) to that party at the
                  facsimile number set forth below, mailed by certified mail
                  (postage prepaid return receipt requested) to that party at
                  the address set forth below, or delivered by Federal Express
                  or any similar nationally recognized express delivery service
                  for delivery to that party at that address:

                  IF TO SELLER:           William Purton
                                          Director, Special Projects
                                          Dolphin Advanced Technologies Pty Ltd.
                                          600 Waterdale Road
                                          Heidelberg West 3081
                                          Australia

                  AND:                    William Purton
                                          Director, Special Projects
                                          Dolphin Products Pty Ltd.
                                          600 Waterdale Road
                                          Heidelberg West 3081
                                          Australia

                                       8

<PAGE>

                  IF TO BUYER:            Steven J. Blad
                                          President and Chief Executive Officer
                                          VendingData Corporation
                                          6830 Spencer Street
                                          Las Vegas, Nevada  89119
                                          Telephone:  702-733-7195
                                          Facsimile:  702-733-7197

                  WITH COPY TO:           Stacie L. Brown
                                          VendingData Corporation
                                          6830 Spencer Street
                                          Las Vegas, Nevada  89119
                                          Telephone:  702-733-7195
                                          Facsimile:  702-733-7197

         (d)      NON-WAIVER. The failure by any party to insist upon strict
                  compliance with any term or provision of this Agreement, to
                  enforce a right, or to seek a remedy upon any default of the
                  other party shall not affect or constitute a waiver of the
                  first party's right to insist upon strict compliance, enforce
                  that right, or seek a remedy to that default or any prior,
                  contemporaneous or subsequent default. No custom or practice
                  of the parties that varies from any provision of this
                  Agreement shall affect or constitute a waiver of any party's
                  right to demand strict compliance with all provisions of this
                  Agreement.
         (e)      HEADINGS. The headings of the various sections of this
                  Agreement are not a part of the context of the Agreement, are
                  merely labels to assist in locating the sections, and shall be
                  ignored in construing this Agreement.
         (f)      COUNTERPARTS. This Agreement may be executed in multiple
                  counterparts, each of which shall be deemed to be an original,
                  but all of which taken together shall constitute one and the
                  same Agreement.
         (g)      GOVERNING LAW. This Agreement shall be governed by and
                  construed in accordance with the laws of the State of Nevada,
                  without regard to principles of conflicts of law. All rights
                  and remedies of each party under this Agreement shall be
                  cumulative and in addition to all other rights and remedies
                  that may be available to the party from time to time, whether
                  under this Agreement, at law, in equity or otherwise.
         (h)      SEVERABILITY. If any court of competent jurisdiction
                  determines that any provision of this Agreement is
                  unenforceable, that court shall have the jurisdiction to
                  reform the applicable provision so that it is enforceable to
                  the maximum extent permitted by law, and the parties shall
                  abide by that court's determination. In the event that the
                  applicable provision cannot be reformed, it shall be severed
                  from this Agreement, and every other provision of this
                  Agreement shall remain in full force and effect.
         (i)      BINDING EFFECT. This Agreement shall be binding upon, inure to
                  the benefit of and be enforceable by and against the parties
                  and their respective successors, predecessors, parents,
                  affiliates, subsidiaries, divisions, officers, directors,
                  shareholders, employees, advisors, consultants, insurers,
                  attorneys, heirs, executors, administrators and any persons
                  claiming rights by, through or under them.

                                       9

<PAGE>

         (j)      BUYER'S RIGHT OF ASSIGNMENT. Buyer shall have the right to
                  assign its interests under this Agreement to a corporation or
                  other entity controlled by Buyer without Seller's consent, if
                  Seller has received full payment for any outstanding monies
                  due under the Agreement. If Seller has not received full
                  payment for any outstanding monies, Buyer must obtain written
                  approval from Seller before making any assignment of its
                  rights under this Agreement.
         (k)      ENTIRE AGREEMENT. This Agreement, including the exhibits and
                  schedules attached hereto, constitutes the entire agreement
                  between the parties and supersedes all prior representations,
                  agreements and understandings of the parties, including,
                  without limitation any letter of intent or letter of
                  understanding or similar documents. No addition to or
                  modification of this Agreement shall be binding unless
                  executed in writing by the party against which enforcement is
                  sought.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first set forth above.

                                    "SELLER"

                           GEORGINA LOUISE SANGSTER

                           /S/ GEORGIA SANGSTER
                           --------------------
                           "GUARANTOR"

                           SIGNED BY WILLIAM PURTON           ) /S/ W. W. PURTON
                           In the presence of /s/ James Downy ) /S/  JAMES DOWNY

                           And

                           DOLPHIN ADVANCED TECHNOLOGIES PTY LTD.

                           By:               /S/ W.W. PURTON
                                    -----------------------------------
                                    William Purton as a person authorised
                                    to sign on behalf of the Company under
                                    its Articles of Association
                           Its:     Director, Special Projects

                                       10

<PAGE>

                           DOLPHIN PRODUCTS PTY LTD.

                           By:               /S/ W.W. PURTON
                                    -----------------------------------
                                    William Purton as a person authorised
                                    to sign on behalf of the Company under
                                    its Articles of Association
                           Its:     Director, Special Projects

                                    "BUYER"

                           VENDINGDATA CORPORATION,
                           a Nevada corporation

                           By:               /S/ STEVEN J. BLAD
                                    --------------------------------------------
                                    Steven J. Blad
                           Its:     President and Chief Executive Officer

                                       11

<PAGE>

                                    EXHIBIT A

                  PRODUCT & PRODUCT PERFORMANCE SPECIFICATIONS

ONE UNIT OF THE PRODUCT COMPRISES:

(a)      DECK-CHECKER(R) card scanning and verification machine, including one
         output box and one roll of paper;
(b)      Computer software for programming the machine to accept different
         manufacturer's cards, not including the Source Code;
(c)      Includes the annexed list of consumables and spare parts;
(d)      Product design Level Model No. 1 Design drawing DAT-DDC-1; Issue No. 3
         1-5-2000; and
(e)      Any subsequent upgrade or new model.

PRODUCT PERFORMANCE SPECIFICATIONS

An electromechanical device that uses optical character verification software
and hardware in combination to automatically check one face of paper playing
cards, ensuring completeness or otherwise of individual suits in terms of the
number of decks (packs) placed into the machine by the operator. In order to
perform its recognition and verification functions, the machine must be
specifically programmed for each card type by the manufacturer or its authorized
representative.

The device will not recognize cards that have obscure symbols or denominations,
cards that are poorly printed or printed out of registration or die-cut in such
a way as to move the recognition parameters beyond the programmed recognition
zone.

The device will not accept cards that are badly damaged (either bent or torn) so
as to prevent them passing freely through the feed-slot of the hopper-loader.
Because the feed mechanism is designed to accept single cards at any one time,
two or more cards that are stuck together due to the presence of food or
beverage residue will not pass through the feed-slot.

The device will display on its LCD screen, or by issuing a printed report, the
status of the cards examined in terms of completeness or otherwise e.g. Passed;
Failed - extra cards, missing cards, cards unrecognized, boxed cards.

Exposure to dirt, dust, moisture, vibration, electrical interference or the
permitting of extraneous light (particularly from a fluorescent source) to enter
the camera's field of view may prevent the proper operation of the device.

The device is designed to operate in a normal office environment (humidity not
exceeding 40%) and located away from devices or equipment that emit electrical
interference.

                                       12

<PAGE>

The device is programmed to display or print a report showing the following
information:

     Operator #(6 digits)
     Table #(6 digits)
     Time
     Date
     Type or card (name of manufacturer)
     Game type for which the cards will or have been used
     Packs #(decks)
     Cards #(total number examined)
     Seal # (optional)

The device is able to examine approximately 200 cards per minute.

Operating power requirements are a constant 240 Volts AC at 50 Hz and a maximum
10 amps without spikes or surges.

Each device is supplied complete with one out-put box with a separate lid. The
out-put box is capable of being sealed for security purposes with a
tamper-evident seal (not supplied).

================================================================================

DECK CHECKER SPECIFICATION
         1.       Scans 1-8 decks of standard size playing cards. Card size
                  88(L) x 63(W) mm
         2.       Scanning rate 1 standard 52 card deck in 15 seconds
         3.       Operates in 2 versions for Jumbo Index & Standard Index cards
         4.       Operates in 2 versions 110Volt/60Hz and 240Volt/50Hz and AC
                  main drive motor
         5.       Accommodates a standard 8-deck Card Vault

DECK CHECKER "UNIVERSAL" MODEL
         1.       Scans 1-8 decks of standard size playing cards. Card size
                  88(L) x 63(W) mm
         2.       Scanning rate 1 standard 52 card deck in 15 seconds
         3.       Operates as a single "universal" model capable of recognizing
                  Jumbo Index, Standard Index and Tec-Art configurations without
                  the need to change camera lenses.
         4.       Operates as a single "universal" model at either 110Volt/60Hz
                  or 240Volt/50Hz using a universal power supply and DC main
                  drive motor
         5.       Accommodates a standard 8-deck Card Vault

                                       13

<PAGE>

                                    EXHIBIT B

                           INTELLECTUAL PROPERTY LIST

                               PATENT APPLICATIONS
---------------------------------------- ---------------------------------------
                 COUNTRY                                  NUMBER
---------------------------------------- ---------------------------------------
                Australia                                28951/00
---------------------------------------- ---------------------------------------
                  Canada                                  2362674
---------------------------------------- ---------------------------------------
                  China                                 00804194.6
---------------------------------------- ---------------------------------------
                  Europe                                 0097339.6
---------------------------------------- ---------------------------------------
               South Africa                              20016748
---------------------------------------- ---------------------------------------
                   USA                                   09/638860
---------------------------------------- ---------------------------------------
        Patent Cooperation Treaty                     PCT/AU00/00150
---------------------------------------- ---------------------------------------

                             TRADEMARK APPLICATIONS
---------------------------------------- ---------------------------------------
                 COUNTRY                                  NUMBER
---------------------------------------- ---------------------------------------
                Australia                                 900365
---------------------------------------- ---------------------------------------

                                       14

<PAGE>

                                    EXHIBIT C

                           BILL OF SALE AND ASSIGNMENT

                                       15

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