Document:

EXHIBIT 4.1

THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED
OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH
ACT COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 OR
RULE 701 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE
COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT
FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE HELD BY AN AFFILIATE OF THE
COMPANY. NO SALE OR DISPOSITION OF THESE SHARES MAY BE EFFECTED EXCEPT PURSUANT
TO AN EFFECTIVE REGISTRATION RELATED THERETO OR IN COMPLIANCE WITH RULE 144 OR
ITS SUCCESSOR OR PURSUANT TO AN OPINION OF COUNSEL THAT SUCH REGISTRATION IS NOT
REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
--------------------------------------------------------------------------------

Warrant No. <<Warrant_no>>                      Number of Shares:  <<Shares_no>>
                                                (subject to adjustment)

Date of Issuance:  September 26, 2007

                         VELOCITY ASSET MANAGEMENT, INC.

                              COMMON STOCK WARRANT

      Velocity Asset Management, Inc. (the "COMPANY"), for value received equal
to $0.001 per Warrant Share, hereby certifies that <<Name>> or its registered
assigns (the "REGISTERED HOLDER"), is entitled, subject to the terms set forth
below, to purchase from the Company, at any time after the date hereof and on or
before the Expiration Date (as defined in Section 6 below), up to
<<Shares_spelled>> (<<Shares_no>>) shares (as adjusted from time to time
pursuant to the provisions of this Warrant) of Common Stock of the Company, at a
per share Exercise Price equal to $2.50 (subject to adjustment for stock splits,
dividends and the like and as set forth in Section 3 hereof). The shares
purchasable upon exercise of this Warrant and the exercise price per share, as
adjusted from time to time pursuant to the provisions of this Warrant, are
hereinafter referred to as the "WARRANT STOCK" and the "EXERCISE PRICE,"
respectively.

      This Warrant is issued pursuant to that certain Securities Purchase
Agreement dated approximately concurrently herewith among the Company and
certain individuals and entities listed on EXHIBIT A thereof (the "PURCHASE
AGREEMENT"). Any capitalized terms used herein, but not defined herein, shall
carry those definitions ascribed to them in the Purchase Agreement.

      1. FULLY VESTED SHARES. The shares of Warrant Stock are fully vested and
exercisable as of March 26, 2008.

<PAGE>

      2. EXERCISE.

            (a) METHOD OF EXERCISE.

                  (i) This Warrant may be exercised by the Registered Holder, in
whole or in part, by surrendering this Warrant, with the purchase/exercise form
appended hereto as EXHIBIT A duly executed by such Registered Holder or by such
Registered Holder's duly authorized attorney, at the principal office of the
Company, or at such other office or agency as the Company may designate in
writing prior to the date of such exercise, accompanied by payment in full of
the Exercise Price payable in respect of the number of shares of Warrant Stock
purchased upon such exercise. The Exercise Price may be paid by cash, check,
wire transfer or by the surrender of promissory notes or other instruments
representing indebtedness of the Company to the Registered Holder.

                  (ii) If the Registration Statement (as that term is defined in
the Registration Rights Agreement dated as of the date hereof (the "Registration
Rights Agreement")) is not declared effective on or before the date which is
nine months after the date hereof, in lieu of exercising this Warrant in the
manner provided above in Section 2(a)(i), the Registered Holder may elect to
receive shares pursuant to a cashless exercise, equal to the value of this
Warrant (or the portion thereof being exercised) by surrender of this Warrant at
the principal office of the Company together with notice of such election on the
purchase/exercise form appended hereto as EXHIBIT A duly executed by such
Registered Holder or such Registered Holder's duly authorized attorney, in which
event the Company shall issue to holder a number of shares of Common Stock
computed using the following formula:

                                  X = Y (A - B)
                                      ---------
                                          A

Where    X = The number of shares of Common Stock to be issued to the Registered
             Holder.

         Y = The number of shares of Common Stock being exercised under this
             Warrant.

         A = The fair market value of one share of Common Stock (on the exercise
             date as calculated below)

         B = The Exercise Price (as adjusted to the exercise date).

For purposes of this Section 2(a)(ii), the fair market value of one share of
Common Stock on the exercise date shall mean:

                        (A) if the Company's Common Stock is traded on a
national securities exchange or The American Stock Exchange, the fair market
value shall be deemed to be the average of the closing sale prices over a five
trading day period ending on the date of calculation; or

                                       -2-

<PAGE>

                        (B) if the Company's Common Stock is actively traded
over-the-counter, the fair market value shall be deemed to be the average of the
closing bid or sales price (whichever is applicable) over the thirty (30) day
period ending three days before the date of calculation; or

                        (C) if neither (A) nor (B) is applicable, the fair
market value shall be at the highest price per share which the Company could
obtain on the date of calculation from a willing buyer (not a current employee
or director) for shares of Common Stock sold by the Company, from authorized but
unissued shares, as determined in good faith by the Board of Directors, unless
the Company has at such time received a term sheet with regard to an Acquisition
as described in Section 6 below, in which case the fair market value per share
of Common Stock shall be deemed to be the value of the consideration per share
to be issued to the holders of such stock pursuant to such Acquisition, as
calculated pursuant to the definitive agreement relating to such Acquisition.

            (b) EFFECTIVE TIME OF EXERCISE. Each exercise of this Warrant shall
be deemed to have been effected immediately prior to the close of business on
the day on which this Warrant shall have been surrendered to the Company as
provided in Section 2(a) above. At such time, the person or persons in whose
name or names any certificates for Warrant Stock shall be issuable upon such
exercise as provided in Section 2(c) below shall be deemed to have become the
holder or holders of record of the Warrant Stock represented by such
certificates.

            (c) DELIVERY TO HOLDER. As soon as practicable after the exercise of
this Warrant in whole or in part, and in any event within 10 business days
thereafter, the Company at its expense will cause to be issued in the name of,
and delivered to, the Registered Holder, or as such Registered Holder (upon
payment by such Registered Holder of any applicable transfer taxes) may direct:

                  (i) a certificate or certificates for the number of shares of
Warrant Stock to which such Registered Holder shall be entitled, and

                  (ii) in case such exercise is in part only, a new warrant or
warrants (dated the date hereof) of like tenor, calling in the aggregate on the
face or faces thereof for the number of shares of Warrant Stock equal (giving
effect to any adjustment therein) to the number of such shares called for on the
face of this Warrant minus the number of such shares purchased by the Registered
Holder upon such exercise as provided in Section 2(a) above.

      3. ADJUSTMENTS.

            (a) STOCK SPLITS AND DIVIDENDS. If the outstanding shares of the
Company's Common Stock shall be subdivided into a greater number of shares or a
dividend in Common Stock shall be paid in respect of Common Stock, the Exercise
Price in effect immediately prior to such subdivision or at the record date of
such dividend shall simultaneously with the effectiveness of such subdivision or
immediately after the record date of such dividend be proportionately reduced.
If outstanding shares of Common Stock shall be combined into a

                                       -3-

<PAGE>

smaller number of shares, the Exercise Price in effect immediately prior to such
combination shall, simultaneously with the effectiveness of such combination, be
proportionately increased. When any adjustment is required to be made in the
Exercise Price, the number of shares of Warrant Stock purchasable upon the
exercise of this Warrant shall be changed to the number determined by dividing
(i) an amount equal to the number of shares issuable upon the exercise of this
Warrant immediately prior to such adjustment, multiplied by the Exercise Price
in effect immediately prior to such adjustment, by (ii) the Exercise Price in
effect immediately after such adjustment.

            (b) MERGER SALE, RECLASSIFICATION, ETC. In case of any (i)
consolidation or merger (including a merger in which the Company is the
surviving entity), (ii) sale or other disposition of all or substantially all of
the Company's assets or distribution of property to shareholders (other than
distributions payable out of earnings or retained earnings), or
reclassification, change or conversion of the outstanding securities of the
Company or of any reorganization of the Company (or any other corporation the
stock or securities of which are at the time receivable upon the exercise of
this Warrant) or any similar corporate reorganization on or after the date
hereof, then and in each such case the holder of this Warrant, upon the exercise
hereof at any time thereafter shall be entitled to receive, in lieu of the stock
or other securities and property receivable upon the exercise hereof prior to
such consolidation, merger, sale or other disposition, reclassification, change,
conversion or reorganization, the stock or other securities or property to which
such holder would have been entitled upon such consummation if such holder had
exercised this Warrant immediately prior thereto, all subject to further
adjustment as provided in Section 3(a) or 3(b); and in each such case, the terms
of this Section 3 shall be applicable to the shares of stock or other securities
properly receivable upon the exercise of this Warrant after such consolidation,
merger, sale or other disposition, reclassification, change, conversion or
reorganization.

            (c) PRICE ANTI-DILUTION. Except in connection with any Permitted
Issuances, if at any time prior to the date which is six months from the
Issuance Date, the Company shall issue or sell, any warrants or other rights to
subscribe for or purchase any shares of Common Stock or any convertible
securities, whether or not the rights to exchange or convert thereunder are
immediately exercisable, and the price per share for which Common Stock is
issuable upon the exercise of such warrants or other rights or upon conversion
or exchange of such Convertible Securities shall be less than the Exercise
Price, then the Warrant Exercise Price shall be adjusted to such price; provided
however, in no event shall the Warrant Exercise Price be adjusted below the then
current market price of the Company's common stock. No further adjustment of the
Warrant Exercise Price shall be made upon the actual issue of such Common Stock
or of such Convertible Securities upon exercise of such warrants or other rights
or upon the actual issuance of such Common Stock upon such conversion or
exchange of such Convertible Securities.

            "PERMITTED ISSUANCES" shall mean (i) Common Stock issuable or issued
to employees, consultants, officers, directors, or advisors of the Company
directly or pursuant to a stock purchase plan or other compensation arrangement
approved by the Board of Directors of the Company which are issued at fair
market value at the date of issuance, (ii) capital stock, debt instruments
convertible into capital stock or warrants or options to purchase capital stock
issued in connection with bona fide acquisitions, mergers, or purchases,
corporate partnering

                                       -4-

<PAGE>

agreements, joint ventures or similar transactions, the terms of which are
approved by the Board of Directors of the Company, (iii) Common Stock issuable
upon the conversion of the Warrants, or (iv) Common Stock issued or issuable
upon exercise or conversion of any warrants, options or any other securities
exercisable or exchangeable for, or convertible into shares of Common Stock
outstanding as of September 25, 2007 or (v) Common Stock issuable in connection
with the sale of securities by the Company, in one or more transactions,
resulting in aggregate gross proceeds of not more than $2,000,000.

            (d) ADJUSTMENT CERTIFICATE. When any adjustment is required to be
made in the Warrant Stock or the Exercise Price pursuant to this Section 3, the
Company shall promptly mail to the Registered Holder a certificate setting forth
(i) a brief statement of the facts requiring such adjustment, (ii) the Exercise
Price after such adjustment and (iii) the kind and amount of stock or other
securities or property into which this Warrant shall be exercisable after such
adjustment.

      4. TRANSFERS.

            (a) UNREGISTERED SECURITY. Each holder of this Warrant acknowledges
that this Warrant and the Warrant Stock have not been registered under the
Securities Act of 1933, as amended (the "SECURITIES ACT"), and agrees not to
sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this
Warrant or any Warrant Stock issued upon its exercise in the absence of (i) an
effective registration statement under the Securities Act as to this Warrant or
such Warrant Stock and registration or qualification of this Warrant or such
Warrant Stock under any applicable U.S. federal or state securities law then in
effect or (ii) an opinion of counsel, reasonably satisfactory to the Company,
that such registration and qualification are not required. Each certificate or
other instrument for Warrant Stock issued upon the exercise of this Warrant
shall bear a legend substantially to the foregoing effect.

            (b) TRANSFERABILITY. Subject to the provisions of Section 4(a)
hereof, this Warrant and all rights hereunder are transferable, in whole or in
part, to (i) any entity controlling, controlled by or under common control of
the Registered Holder, or (ii) to any other proposed transferee by surrendering
the Warrant with a properly executed assignment (in the form of EXHIBIT B
hereto) at the principal office of the Company.

            (c) WARRANT REGISTER. The Company will maintain a register
containing the names and addresses of the Registered Holders of this Warrant.
Until any transfer of this Warrant is made in the warrant register, the Company
may treat the Registered Holder of this Warrant as the absolute owner hereof for
all purposes; PROVIDED, HOWEVER, that if this Warrant is properly assigned in
blank, the Company may (but shall not be required to) treat the bearer hereof as
the absolute owner hereof for all purposes, notwithstanding any notice to the
contrary. Any Registered Holder may change such Registered Holder's address as
shown on the warrant register by written notice to the Company requesting such
change.

      5. NO IMPAIRMENT. The Company will not, by amendment of its charter or
through reorganization, consolidation, merger, dissolution, sale of assets or
any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will (subject to Section 14 below) at
all times in good faith assist in the carrying out of all such

                                       -5-

<PAGE>

terms and in the taking of all such action as may be necessary or appropriate in
order to protect the rights of the holder of this Warrant against impairment.

      6. TERMINATION. This Warrant (and the right to purchase securities upon
exercise hereof) shall terminate on the earlier of: (i) September 26, 2010 or
(ii) the closing of any sale of all or substantially all of the assets of the
Company, or any merger, consolidation or any other transaction or series of
related transactions in which the Company's stockholders immediately prior
thereto own less than a majority of the voting stock of the Company (or its
successor or parent) immediately thereafter (an "ACQUISITION") (the "EXPIRATION
DATE").

      7. NOTICES OF CERTAIN TRANSACTIONS. In case:

            (a) the Company shall take a record of the holders of its Common
Stock (or other stock or securities at the time deliverable upon the exercise of
this Warrant) for the purpose of entitling or enabling them to receive any
dividend or other distribution, or to receive any right to subscribe for or
purchase any shares of stock of any class or any other securities, or to receive
any other right, to subscribe for or purchase any shares of stock of any class
or any other securities, or to receive any other right, or

            (b) of any capital reorganization of the Company, any
reclassification of the capital stock of the Company, any consolidation or
merger of the Company, any consolidation or merger of the Company with or into
another corporation (other than a consolidation or merger in which the Company
is the surviving entity), or any transfer of all or substantially all of the
assets of the Company, or

            (c) of the voluntary or involuntary dissolution, liquidation or
winding-up of the Company,

then, and in each such case, the Company will mail or cause to be mailed to the
Registered Holder of this Warrant a notice specifying, as the case may be, (i)
the date on which a record is to be taken for the purpose of such dividend,
distribution or right, and stating the amount and character of such dividend,
distribution or right, or (ii) the effective date on which such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up is to take place, and the time, if any is to be fixed, as of which
the holders of record of Common Stock (or such other stock or securities at the
time deliverable upon such reorganization, reclassification, consolidation,
merger, transfer, dissolution, liquidation or winding-up) are to be determined.

      8. RESERVATION OF STOCK. The Company will at all times have authorized,
reserve and keep available, solely for the issuance and delivery upon the
exercise of this Warrant, such shares of Warrant Stock and other stock,
securities and property, as from time to time shall be issuable upon the
exercise of this Warrant.

      9. EXCHANGE OF WARRANTS. Upon the surrender by the Registered Holder of
any Warrant or Warrants, properly endorsed, to the Company at the principal
office of the Company, the Company will, subject to the provisions of Section 4
hereof, issue and deliver to or upon the order of such Holder, at the Company's
expense, a new Warrant or Warrants of like tenor, in the

                                       -6-

<PAGE>

name of such Registered Holder or as such Registered Holder (upon payment by
such Registered Holder of any applicable transfer taxes) may direct, calling in
the aggregate on the face or faces thereof for the number of shares of Common
Stock called for on the face or faces of the Warrant or Warrants so surrendered.

      10. REPLACEMENT OF WARRANTS. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and (in the case of loss, theft or destruction) upon delivery of an
indemnity agreement (with surety if reasonably required) in an amount reasonably
satisfactory to the Company, or (in the case of mutilation) upon surrender and
cancellation of this Warrant, the Company will issue, in lieu thereof, a new
Warrant of like tenor.

      11. NOTICES. Any notice required or permitted by this Warrant shall be in
writing and shall be deemed duly given upon receipt, when delivered personally
or by courier, overnight delivery service or confirmed facsimile, or 48 hours
after being deposited in the regular mail as certified or registered mail
(airmail if sent internationally) with postage prepaid, addressed (a) if to the
Registered Holder, to the address of the Registered Holder most recently
furnished in writing to the Company and (b) if to the Company, to the address
set forth on the signature page of this Warrant or as subsequently modified by
written notice to the Registered Holder.

      12. NO RIGHTS AS STOCKHOLDER. Until the exercise of this Warrant, the
Registered Holder of this Warrant shall not have or exercise any rights by
virtue hereof as a stockholder of the Company.

      13. NO FRACTIONAL SHARES. No fractional shares of Common Stock will be
issued in connection with any exercise hereunder. In lieu of any fractional
shares which would otherwise be issuable, the Company shall pay cash equal to
the product of such fraction multiplied by the fair market value of one share of
Common Stock on the date of exercise, as determined in good faith by the
Company's Board of Directors.

      14. AMENDMENT OR WAIVER. Any term of this Warrant may be amended or waived
upon written consent of the Company and the registered holders of at least 50%
of the Common Stock issuable upon exercise of the outstanding warrants purchased
pursuant to the Purchase Agreement. By acceptance hereof, the Registered Holder
acknowledges that in the event the required consent is obtained, any term of
this Warrant may be amended or waived with or without the consent of the
Registered Holder; PROVIDED, HOWEVER, that any amendment hereof that would
materially adversely affect the Registered Holder in a manner different from the
holders of the remaining warrants issued pursuant to the Purchase Agreement
shall also require the consent of Registered Holder.

      15. HEADINGS. The headings in this Warrant are for purposes of reference
only and shall not limit or otherwise affect the meaning of any provision of
this Warrant.

      16. GOVERNING LAW. This Warrant and all acts and transactions pursuant
hereto and the rights and obligations of the parties hereto shall be governed,
construed and interpreted in accordance with the laws of the State of New York,
without giving effect to principles of conflicts of law.

                                       -7-

<PAGE>

      17. REGISTRATION RIGHTS. The Warrant Shares are subject to the re-sale
registration rights described in the Registration Rights Agreement by and
between the Company and the Registered Holder and dated concurrently herewith.

      18. REPRESENTATIONS AND COVENANTS OF THE HOLDER. This Warrant has been
entered into by the Company in reliance upon the following representations and
covenants of the Registered Holder:

            (a) INVESTMENT PURPOSE. The Registered Holder is acquiring the
Warrant and the Common Stock issuable upon exercise of the Warrant for its own
account, not as a nominee or agent and with no present intention of selling or
otherwise distributing any part thereof.

            (b) PRIVATE ISSUE. The Registered Holder understands, except as
provided in the Registration Rights Agreement, (i) that neither the Warrant nor
the Common Stock issuable upon exercise of this Warrant is, nor will be,
registered under the Securities Act or qualified under applicable state
securities laws on the ground that the issuance contemplated by this Warrant
will be exempt from the registration and qualifications requirements thereof
pursuant to Section 4(2) of the Securities Act and any applicable state
securities laws, and (ii) that the Company's reliance on such exemption is
predicated on the representations set forth in this Section 18.

            (c) DISPOSITION OF HOLDER'S RIGHTS. In no event will the Registered
Holder make a disposition of the Warrant or the Common Stock issuable upon
exercise of the Warrant in the absence of (i) an effective registration
statement under the Securities Act as to this Warrant or such Warrant Stock and
registration or qualification of this Warrant or such Warrant Stock under any
applicable U.S. federal or state securities law then in effect or (ii) an
opinion of counsel, reasonably satisfactory to the Company, that such
registration and qualification are not required. Notwithstanding the foregoing,
the restrictions imposed upon the transferability of any of its rights to
acquire Common Stock or Common Stock issuable on the exercise of such rights do
not apply to transfers from the beneficial owner of any of the aforementioned
securities to its nominee or from such nominee to its beneficial owner, and
shall terminate as to any particular share of Common Stock when (1) such
security shall have been effectively registered under the Securities Act and
sold by the holder thereof in accordance with such registration or (2) such
security shall have been sold without registration in compliance with Rule 144
under the Securities Act, or (3) a letter shall have been issued to the
Registered Holder at its request by the staff of the Securities and Exchange
Commission (the "SEC") or a ruling shall have been issued to the Registered
Holder at its request by the SEC stating that no action shall be recommended by
such staff or taken by SEC, as the case may be, if such security is transferred
without registration under the Securities Act in accordance with the conditions
set forth in such letter or ruling and such letter or ruling specifies that no
subsequent restrictions on transfer are required. Whenever the restrictions
imposed hereunder shall terminate, as hereinabove provided, the Registered
Holder or holder of a share of Common Stock then outstanding as to which such
restrictions have terminated shall be entitled to receive from the Company,
without expense to such holder, one or more new certificates for the Warrant or
for such shares of Common Stock not bearing any restrictive legend.

                                       -8-

<PAGE>

            (d) FINANCIAL RISK. The Registered Holder has such business and
financial experience as is required to give it the capacity to protect its own
interests in connection with its investment.

            (e) ACCREDITED INVESTOR. The Registered Holder is an "accredited
investor" as defined by Rule 501 of Regulation D under the Securities Act, as
presently in effect.

      19. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. This Warrant has been
entered into by the Registered Holder in reliance upon the following
representations and covenants of the Company:

            (a) AUTHORIZATION. The Warrant has been duly executed and delivered
by the Company and constitutes a legal, valid and binding obligation of the
Company enforceable in accordance with its terms, subject to laws of general
application relating to bankruptcy, insolvency and the relief of debtors and
rules of law governing specific performance, injunctive relief or other
equitable remedies.

            (b) VALID ISSUANCE. The Warrant Stock is duly authorized and
reserved for issuance, and when issued, sold and delivered in accordance with
the terms of this Warrant will be duly and validly issued, fully paid and
nonassessable.

            (c) NO CONFLICT. The execution and delivery of this Warrant do not,
and the consummation of the transactions contemplated hereby will not, conflict
with, or result in any violation of, breach or default (with or without notice
or lapse of time, or both), or give rise to a right of termination, cancellation
or acceleration of any obligation or to a loss of a material benefit, under, any
provision of the Certificate of Incorporation or Bylaws of the Company or any
material agreement attached as an exhibit to the Company's SEC Documents (as
defined in the Purchase Agreement), or any judgment, order, decree, statute,
law, ordinance, rule, listing requirement or regulation applicable to the
Company, its properties or assets, which conflict, violation, default or right
would have a material adverse effect on the business, properties, prospects,
financial condition or operations of the Company.

      20. COUNTERPARTS. This Warrant may be executed in counterparts, and each
such counterpart shall be deemed an original for all purposes.

                            [SIGNATURE PAGES FOLLOW]

                                       -9-

<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Common Stock Warrant as
of the date first above written.

                               VELOCITY ASSET MANAGEMENT, INC.

                                        By _____________________________________

                                        Name: __________________________________

                                                            (print)
                                        Title: _________________________________

                                        Address: Velocity Asset Management Inc.
                                                 1800 Route 34 North
                                                 Building 4, Suite 404A
                                                 Wall, NJ 07719
                                                 Attention: Chief Financial
                                        Officer

                                        Fax Number: (732) 556-2365VELOCITY ASSET MANAGEMENT, INC.

                          REGISTRATION RIGHTS AGREEMENT

                               SEPTEMBER 26, 2007

<PAGE>

                         VELOCITY ASSET MANAGEMENT, INC.
                          REGISTRATION RIGHTS AGREEMENT

      This Registration Rights Agreement (the "AGREEMENT") is made as of the
26th day of September, 2007, by and among Velocity Asset Management, Inc., a
Delaware corporation (the "COMPANY"), and the individuals and entities listed on
the signature pages hereto (each an "INVESTOR" and collectively the
"INVESTORS").

                                    RECITALS

      The Company and the Investors have entered into a Securities Purchase
Agreement (the "PURCHASE AGREEMENT") of even date herewith pursuant to which the
Company has agreed to sell to the Investors and the Investors have agreed to
purchase from the Company shares of the Company's Common Stock (the "PURCHASED
SHARES") and warrants (the "INVESTOR WARRANTS") to purchase shares of the
Company's Common Stock.

      All capitalized terms not otherwise defined herein shall have the meanings
ascribed in the Purchase Agreement.

      A condition to each Investor's obligations under the Purchase Agreement is
that the Company and the Investors enter into this Agreement in order to provide
the Investor with certain rights to register the Shares (as defined below). The
Company and the Investors each desire to induce the Investors to purchase the
Purchased Shares and the Investor Warrants pursuant to the Purchase Agreement by
agreeing to the terms and conditions set forth herein.

                                    AGREEMENT

      The parties hereby agree as follows:

            1. REGISTRATION RIGHTS. The Company and the Investors covenant and
agree as follows:

                  1.1 DEFINITIONS. For purposes of this Section 1 (terms defined
in the singular shall apply to the plural form and vice-versa):

                        (a) The terms "REGISTER," "REGISTERED," and
"REGISTRATION" refer to a registration effected by preparing and filing a
Registration Statement or similar document in compliance with the Securities Act
of 1933, as amended (the "ACT"), and the declaration or ordering of
effectiveness of such Registration Statement or document by the SEC;

                        (b) The term "REGISTRABLE SECURITIES" means (i) the
shares of Common Stock issued or sold in connection with the Purchase Agreement
and on exercise of the Investor Warrants and the warrant issued to Security
Research Associates, Inc. ("SRA") pursuant to that certain engagement letter
dated August 6, 2007 (collectively with the Investor Warrants, the "WARRANTS")
(such shares of Common Stock are collectively referred to hereinafter as the
"SHARES" or "STOCK"), and (ii) any other shares of Common Stock of the Company
issued as (or issuable upon the conversion or exercise of any warrant, right or
other security which is issued

<PAGE>

as) a dividend or other distribution with respect to, or in exchange for or in
replacement of, the Stock, PROVIDED, that the foregoing definition shall exclude
in all cases any Registrable Securities sold by a person in a transaction in
which its rights under this Agreement are not assigned. Notwithstanding the
foregoing, Common Stock or other securities shall only be treated as Registrable
Securities if and so long as they have not (A) been sold to or through a broker
or dealer or underwriter in a public distribution or a public securities
transaction, or (B) been sold in a transaction exempt from the registration and
prospectus delivery requirements of the Act under Section 4(1) thereof so that
all transfer restrictions, and restrictive legends with respect thereto, if any,
are removed upon the consummation of such sale or (C) with regard to any
individual Holder, become eligible for sale in any three month period pursuant
to Rule 144;

                        (c) The number of shares of "REGISTRABLE SECURITIES THEN
OUTSTANDING" shall be determined by the number of shares of Common Stock
outstanding which are, and the number of shares of Common Stock issuable
pursuant to then exercisable or convertible securities which are, Registrable
Securities;

                        (d) The term "HOLDER" means any person owning or having
the right to acquire Registrable Securities or any assignee thereof in
accordance with this Agreement;

                        (e) The term "FORM S-3" means such form under the Act as
in effect on the date hereof or any successor form under the Act; and

                        (f) The term "SEC" means the Securities and Exchange
Commission.

                  1.2 FORM S-3 REGISTRATION.

                  (a) REGISTRATION. Subject to the terms and conditions of this
Agreement, on or before the date that is forty five (45) days after the Closing
of the Purchase Agreement (the "FILING DEADLINE"), the Company will file with
the SEC a Registration Statement on Form S-3 (the "REGISTRATION STATEMENT") in
order to include the Shares for registration thereon, and will use its best
efforts to keep the Registration Statement effective, subject to the terms of
this Agreement, and effect any related qualification or compliance with respect
to all Registrable Securities owned by the Holders as soon as practicable
thereafter, subject to the Company's ability to defer filing the Registration
Statement pursuant to subsection 1.2(b)(ii) below.

                  (b) MECHANICS. Pursuant to its obligations under Section
1.2(a) above, the Company will:

                        (i) promptly give written notice of the registration,
and any related qualification or compliance, to the Investors;

                        (ii) use its best efforts to maintain the effectiveness
of such registration and all such qualifications and compliances as may be
necessary and as would permit or facilitate the sale and distribution of all of
the Investors' Registrable Securities;

                                       -2-

<PAGE>

provided, however, that the Company shall not be obligated to effect any such
registration, qualification or compliance, pursuant to this Section 1.2 if the
Company shall furnish to the Investors a certificate signed by the President of
the Company stating that in the good faith reasonable judgment of the Board of
Directors of the Company (with the concurrence of the managing underwriter, if
any), the filing of the Registration Statement would adversely affect, or
require premature disclosure of, any filing, financing, acquisition or
reorganization involving the Company, in which event the Company shall have the
right to defer the filing of the Registration Statement for a reasonable period
of time, which shall not exceed forty five (45) days after the Filing Deadline
under this Section 1.2; and

                        (iii) any and all expenses incurred in connection with
the Registration Statement filed pursuant to this Section 1.2 shall be borne by
the Company, including all registration, filing, qualification, printers' and
accounting fees but excluding any underwriters' discounts or commissions or fees
and disbursements for counsel to the Investors.

                  1.3 OBLIGATIONS OF THE COMPANY. Whenever required under this
Section 1 to effect the registration of any Registrable Securities, the Company
shall, as expeditiously as reasonably possible:

                        (a) Prepare and file with the SEC the Registration
Statement with respect to such Registrable Securities and use its best efforts
to keep the Registration Statement effective until the earlier of: (i) 36 months
after the date that the Registration Statement is declared effective by the SEC;
(ii) the date when all of the Registrable Securities covered by the Registration
Statement are sold; or (iii) the date when Rule 144(k) is available with respect
to all of the securities covered by such Registration Statement.

                        (b) Prepare and file with the SEC such amendments,
including post-effective amendments, and supplements to such Registration
Statement and the prospectus used in connection with such Registration Statement
as may be necessary to comply with the provisions of the Act with respect to the
disposition of all securities covered by such Registration Statement.

                        (c) Furnish to the Holders such numbers of copies of a
prospectus, including a preliminary prospectus, in conformity with the
requirements of the Act, and such other documents as they may reasonably request
in order to facilitate the disposition of Registrable Securities owned by them.

                        (d) Use its best efforts to register and qualify the
securities covered by such Registration Statement under such other securities or
blue sky laws of such jurisdictions as shall be reasonably requested by the
Holders, provided that the Company shall not be required in connection therewith
or as a condition thereto to qualify to do business or to file a general consent
to service of process in any such states or jurisdictions.

                        (e) Notify each Holder of Registrable Securities covered
by such Registration Statement at any time when a prospectus relating thereto is
required to be delivered under the Act of the happening of any event as a result
of which the prospectus included in such Registration Statement, as then in
effect, includes an untrue statement of a

                                       -3-

<PAGE>

material fact or omits to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of the
circumstances then existing. In such circumstance, the Company will use
reasonable commercial efforts to promptly update such prospectus to correct such
untrue statement or disclose the necessary material facts within the period of
time the Company may delay sales under Section 1.4(a)(iii) below.

                  1.4 RESTRICTIONS ON AND PROCEDURE FOR SALES PURSUANT TO A
REGISTRATION STATEMENT.

                        (a) Each Holder agrees to the following:

                              (i) NOTICE TO COMPANY. If any Holder shall propose
to sell any Shares, the Holder shall notify the Company of its intent to do so
on or before one (1) business day prior to the date of such sale (the "NOTICE OF
SALE"), and the provision of the Notice of Sale to the Company shall
conclusively be deemed to establish an agreement by such Holder to comply with
the registration provisions herein described. The Notice of Sale shall be deemed
to constitute a representation that any information previously supplied by such
Holder is accurate as of the date of such Notice of Sale.

                              (ii) NOTICE OF SALE. The Notice of Sale in
substantially the form attached as EXHIBIT A shall be given in accordance with
the provisions of Section 3.5 hereof. However, the Holder may give the Notice of
Sale orally by telephoning the current Chief Financial Officer at the Company at
732-556-9090. An oral Notice of Sale shall be deemed to have been received only
at such time as the selling Holder speaks directly with the current Chief
Financial Officer. In addition, an oral Notice of Sale shall only be deemed
effective if it is followed by a written Notice of Sale received by the Company
by personal delivery or facsimile within twenty-four (24) hours after giving the
oral Notice of Sale.

                              (iii) DELAY OF SALE. The Company may refuse to
permit the Holder to resell any Shares for a period of time not to exceed 30
days; provided, however, that in order to exercise this right, the Company must
deliver a certificate in writing to the Holder to the effect that the
Registration Statement in its then current form contains an untrue statement of
material fact or omits to state a material fact necessary in order to make the
statements made therein, in light of the circumstances under which they were
made, not misleading. During any suspension period as contemplated by this
Section 1.4 (a)(iii), of which there shall be no more than two (2) in any twelve
(12) month period, the Company will not allow any of its officers or directors
to buy or sell shares of the Company's securities.

                        (b) REPRESENTATIONS OF HOLDERS. Each Holder hereby
represents to and covenants with the Company that, during the period in which
any Registration Statement effected pursuant to Section 1.2 remains effective,
such Holder will:

                              (i) not engage in any stabilization activity in
connection with any of the Company's securities;

                                       -4-

<PAGE>

                              (ii) cause to be furnished to any purchaser of the
Shares and to the broker-dealer, if any, through whom Shares may be offered, a
copy of the Prospectus; and

                              (iii) not bid for or purchase any securities of
the Company or any rights to acquire the Company's securities, or attempt to
induce any person to purchase any of the Company's securities or any rights to
acquire the Company's securities, in each case, other than as permitted under
the Exchange Act.

                        (c) INFORMATION FOR USE IN REGISTRATION STATEMENT. Each
Holder covenants to the Company that such Holder will complete the information
requested by the Selling Holder's Questionnaire attached as EXHIBIT B hereto
(the "QUESTIONNAIRE"), and further covenants to the Company that all information
provided by such Holder in the Questionnaire will be true, accurate and complete
as of the date provided. Each Holder understands that the written information in
the Questionnaire and all written representations made in this Agreement are
being provided to the Company specifically for use in, or in connection with,
the Registration Statement and the Prospectus, and has executed this Agreement
with such knowledge.

                  1.5 FURNISH INFORMATION. It shall be a condition precedent to
the obligations of the Company to take any action pursuant to this Section 1
with respect to the Registrable Securities of any selling Holder that such
Holder shall furnish to the Company such information regarding itself, the
Registrable Securities held by it, and the intended method of disposition of
such securities as shall be required to effect the registration of such Holder's
Registrable Securities.

                  1.6 DELAY OF REGISTRATION. No Holder shall have any right to
obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any dispute that might arise with respect to the
interpretation or implementation of this Section 1.

                  1.7 INDEMNIFICATION. In the event any Registrable Securities
are included in a Registration Statement under this Section 1:

                        (a) To the extent permitted by law, the Company will
indemnify and hold harmless each Holder, each Holder's affiliates, and their
respective officers, directors, employees, representatives and agents, any
underwriter (as defined in the Act) for such Holder and each person, if any, who
controls such Holder or underwriter within the meaning of the Act or the
Exchange Act, against any losses, claims, damages, or liabilities (joint or
several) to which they may become subject under the Act, the Exchange Act or
other federal or state law, insofar as such losses, claims, damages, or
liabilities (or actions in respect thereof) arise out of or are based upon any
of the following statements, omissions or violations (collectively a
"VIOLATION"): (i) any untrue statement or alleged untrue statement of a material
fact contained in such Registration Statement, including any preliminary
prospectus or final prospectus contained therein or any amendments or
supplements thereto, (ii) the omission or alleged omission to state therein 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,
or (iii) any violation or alleged violation by the Company of the Act, the
Exchange Act, any state securities law or any

                                       -5-

<PAGE>

rule or regulation promulgated under the Act, the Exchange Act or any state
securities law; and the Company will pay to each such Holder, underwriter or
controlling person, as incurred, any legal or other expenses reasonably incurred
by them in connection with investigating or defending any such loss, claim,
damage, liability, or action; provided, however, that the indemnity agreement
contained in this subsection 1.7(a) shall not apply to amounts paid in
settlement of any such loss, claim, damage, liability, or action if such
settlement is effected without the consent of the Company (which consent shall
not be unreasonably withheld), nor shall the Company be liable in any such case
for any such loss, claim, damage, liability, or action to the extent that it
arises out of or is based upon a Violation which occurs in reliance upon and in
conformity with written information furnished expressly for use in connection
with such registration by any such Holder, underwriter or controlling person.

                        (b) To the extent permitted by law, each selling Holder
will indemnify and hold harmless the Company, each of its directors, each of its
officers who has signed the Registration Statement, each person, if any, who
controls the Company within the meaning of the Act, any underwriter, any other
Holder selling securities in such Registration Statement and any controlling
person of any such underwriter or other Holder, against any losses, claims,
damages, or liabilities (joint or several) to which any of the foregoing persons
may become subject, under the Act, the Exchange Act or other federal or state
law, insofar as such losses, claims, damages, or liabilities (or actions in
respect thereto) 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 furnished by such Holder expressly
for use in connection with such registration; and each such Holder will pay, as
incurred, any legal or other expenses reasonably incurred by any person intended
to be indemnified pursuant to this subsection 1.7(b), in connection with
investigating or defending any such loss, claim, damage, liability, or action;
provided, however, that the indemnity agreement contained in this subsection
1.7(b) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability or action if such settlement is effected without the consent
of the Holder, which consent shall not be unreasonably withheld; provided, that,
in no event shall any indemnity under this subsection 1.7(b) exceed the net
proceeds from the offering received by such Holder, except in the case of
willful fraud by such Holder.

                        (c) Promptly after receipt by an indemnified party under
this Section 1.7 of notice of the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect thereof
is to be made against any indemnifying party under this Section 1.7, 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 the defense thereof with counsel mutually
satisfactory to the parties; provided, however, that an indemnified party
(together with all other indemnified parties which may be represented without
conflict by one counsel) shall have the right to retain one separate counsel,
with the reasonable fees and expenses to be paid by the indemnifying party, if
representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any

                                       -6-

<PAGE>

such action, if prejudicial to its ability to defend such action, shall relieve
such indemnifying party of any liability to the indemnified party under this
Section 1.7, but the omission so to deliver written notice to the indemnifying
party will not relieve it of any liability that it may have to any indemnified
party otherwise than under this Section 1.7.

                        (d) If the indemnification provided for in this Section
1.7 is held by a court of competent jurisdiction to be unavailable to an
indemnified party with respect to any loss, liability, claim, damage, or expense
referred to therein, then the indemnifying party, in lieu of indemnifying such
indemnified party hereunder, shall contribute to the amount paid or payable by
such indemnified party as a result of such loss, liability, claim, damage, or
expense in such proportion as is appropriate to reflect the relative fault of
the indemnifying party on the one hand and of the indemnified party on the other
in connection with the statements or omissions that resulted in such loss,
liability, claim, damage, or expense as well as any other relevant equitable
considerations; provided, that, in no event shall any contribution by a Holder
under this Subsection 1.7(d) exceed the net proceeds from the offering received
by such Holder, except in the case of willful fraud by such Holder. The relative
fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission to state a material fact relates to
information supplied by the indemnifying party or by the indemnified party and
the parties' relative intent, knowledge, access to information, and opportunity
to correct or prevent such statement or omission.

                        (e) The obligations of the Company and Holders under
this Section 1.7 shall survive the completion of any offering of Registrable
Securities in a Registration Statement under this Section 1.

                  1.8 REPORTS UNDER SECURITIES EXCHANGE ACT OF 1934. With a view
to making available to the Holders the benefits of Rule 144 and any other rule
or regulation of the SEC that may at any time permit a Holder to sell securities
of the Company to the public without registration or pursuant to a registration
on Form S-3, the Company agrees, for so long as it remains subject to the
periodic reporting requirements under Section 13 or 15(d) of the Exchange Act,
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 Act and the Exchange Act; and

                        (c) furnish to any Holder, so long as the Holder owns
any Registrable Securities, forthwith upon request (i) a written statement by
the Company as to its compliance with the reporting requirements of the Exchange
Act and the rules and regulations promulgated thereunder, or that it qualifies
as a registrant whose securities may be resold pursuant to Form S-3, (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 in availing any Holder of any rule or regulation
of the SEC which permits the selling of any such securities without registration
or pursuant to such form.

                                       -7-

<PAGE>

            1.9 ASSIGNMENT OF REGISTRATION RIGHTS. The rights to cause the
Company to register Registrable Securities pursuant to this Section 1 may be
assigned (but only with all related obligations) by a Holder to a transferee or
assignee of at least 100,000 shares of such securities (subject to adjustment
for stock splits, stock dividends, reclassification or the like); PROVIDED that
the Company is furnished with written notice of the name and address of such
transferee or assignee and the securities with respect to which such
registration rights are being assigned; provided further that such transferee or
assignee will complete the information requested by the Questionnaire, and
further covenants to the Company that all information provided by such
transferee or assignee in the Questionnaire will be true, accurate and complete
as of the date provided, and PROVIDED, FURTHER, that such assignment shall be
effective only if the transferee agrees to be bound by this Agreement and such
assignment shall be effective only if immediately following such transfer the
further disposition of such securities by the transferee or assignee is
restricted under the Act. For the purposes of determining the number of shares
of Registrable Securities held by a transferee or assignee, the holdings of
transferees and assignees of a partnership who are partners or retired partners
of such partnership (including spouses and ancestors, lineal descendants and
siblings of such partners or spouses who acquire Registrable Securities by gift,
will or intestate succession) shall be aggregated together and with the
partnership; provided that all assignees and transferees who would not qualify
individually for assignment of registration rights shall have a single
attorney-in-fact for the purpose of exercising any rights, receiving notices or
taking any action under Section 1.

            1.10 RULE 415. In the event the SEC determines any resale
registration statement filed by the Company pursuant hereto constitutes a
primary offering of securities by the Company and is requiring the Investors to
be named as underwriters, each Investor understands and agrees the Company may
reduce, on a pro rata basis, the total number of Shares to be registered on
behalf of each Investor. In the event of such reduction, the Investor shall have
additional registration rights pursuant to this Section 1 until such time as all
Shares have been registered pursuant to an effective registration statement or
the Shares may be resold without restriction pursuant to Rule 144 of the Act or
the Investor agrees to be named as an underwriter in any such registration
statement.

            2. MISCELLANEOUS.

                  2.1 SUCCESSORS AND ASSIGNS. Except as otherwise provided
herein, the terms and conditions of this Agreement shall inure to the benefit of
and be binding upon the respective successors and assigns of the parties.
Nothing in this Agreement, express or implied, is intended to confer upon any
party other than the parties hereto or their respective successors and assigns
any rights, remedies, obligations, or liabilities under or by reason of this
Agreement, except as expressly provided in this Agreement.

                  2.2 GOVERNING LAW. This Agreement and all acts and
transactions pursuant hereto shall be governed, construed and interpreted in
accordance with the laws of the State of New York, without giving effect to
principles of conflicts of laws.

                                       -8-

<PAGE>

                  2.3 COUNTERPARTS. This Agreement may be executed in two
counterparts, each of which shall be deemed an original, but both of which
together shall constitute one and the same instrument.

                  2.4 TITLES AND SUBTITLES. The titles and subtitles used in
this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

                  2.5 NOTICES. Unless otherwise provided herein, any notice
required or permitted by this Agreement shall be in writing and shall be deemed
duly given upon delivery, when delivered personally or by overnight courier or
confirmed facsimile and addressed to a Holder to be notified at such party's
address as set forth on the signature page hereto or to the Company at its
address on its signature page hereto, or as subsequently modified by written
notice. In the event that any date provided for in this Agreement falls on a
Saturday, Sunday or legal holiday, such date shall be deemed extended to the
next business day. Notwithstanding the foregoing, any notice delivered pursuant
to Section 1.3(e) or Section 1.4 hereto must be made by personal delivery or
confirmed facsimile transmission.

                  2.6 EXPENSES. If any action at law or in equity is necessary
to enforce or interpret the terms of this Agreement, the prevailing party shall
be entitled to reasonable attorneys' fees, costs and necessary disbursements in
addition to any other relief to which such party may be entitled.

                  2.7 AMENDMENTS AND WAIVERS. Any term of this Agreement may be
amended and the observance of any term of this Agreement 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 holders of
a majority of the Registrable Securities then outstanding. Any amendment or
waiver effected in accordance with this paragraph shall be binding upon each
holder of any Registrable Securities then outstanding, each future Holder of any
such Registrable Securities, and the Company.

                  2.8 SEVERABILITY. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction to be
invalid, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions of this Agreement shall remain in full force and
effect and shall in no way be affected, impaired or invalidated.

                  2.9 ENTIRE AGREEMENT. This Agreement, and the Warrant, and the
Purchase Agreement all dated as of the date hereof, and the other documents
delivered pursuant hereto or contemplated hereby constitute the full and entire
understanding and agreement between the parties with regard to the subject
matter hereof and thereof and supersede all prior agreements and understandings
among the parties relating to the subject matter hereof.

                  2.10 LIQUIDATED DAMAGES. The Company and Investors agree that
Investors will suffer damages if the Company fails to fulfill its obligations
pursuant to Section 1 hereof and that it would not be possible to ascertain the
extent of such damages with precision. Accordingly, the Company shall use its
good faith best efforts to cause the Registration Statement to be declared
effective by the SEC on or prior to 90 days after the Closing (the "Effective
Date

                                       -9-

<PAGE>

Deadline"); PROVIDED, HOWEVER, that the Effective Date Deadline shall be
extended by any period in which the filing of the Registration Statement is
deferred pursuant to Section 1.2(c)(ii); PROVIDED FURTHER, HOWEVER, that the
Effective Date Deadline shall be extended by 30 days if the SEC conducts a "full
review" of the Registration Statement. In the event that the Registration
Statement is not declared effective on or before the Effective Date Deadline,
then the Company shall pay to Investor an amount in cash equal to 1% of the
aggregate purchase price paid by the Investor (the "Liquidated Damages") for
each 30 day period following the Effective Date Deadline in which the
Registration Statement is not declared effective; PROVIDED, HOWEVER, that the
aggregate Liquidated Damages paid to the Investor shall not exceed 8% of the
aggregate purchase price paid by the Investor; PROVIDED FURTHER, HOWEVER, that
if the number of Shares registered in the Registration Statement is reduced
pursuant to Section 1.10 of this Agreement, then the holders of the Shares not
included in the Registration Statement pursuant to Section 1.10 of this
Agreement shall not be entitled to Liquidated Damages pursuant to this Section
2.10.

                            [SIGNATURE PAGES FOLLOW]

                                      -10-

<PAGE>

      The parties have executed this Registration Rights Agreement as of the
date first written above.

                                    COMPANY:

                                    VELOCITY ASSET MANAGEMENT, INC.

                                    By:
                                        ----------------------
                                    Name: John C. Kleinert
                                    Title: President and Chief Executive Officer
                                    Address: 1800 Route 34 North
                                              Building 4, Suite 404A
                                              Wall, NJ  07719

                SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT

<PAGE>

SIGNATURE PAGE FOR INDIVIDUALS:

      IN WITNESS WHEREOF, Investor has caused this Registration Rights Agreement
to be executed as of the date indicated below.

$
 -----------------------------------         -----------------------------------
  Purchase Price ($2.00 per share)                    Number of Shares

------------------------------------         -----------------------------------
         Print or Type Name                   Print or Type Name (Joint-owner)

------------------------------------         -----------------------------------
              Signature                            Signature (Joint-owner)

 -----------------------------------         ----------------------------------
                Date                                 Date (Joint-owner)

------------------------------------         -----------------------------------
       Social Security Number               Social Security Number (Joint-owner)

 -----------------------------------        ------------------------------------

 -----------------------------------        ------------------------------------
               Address                              Address (Joint-owner)

       _______ Joint Tenancy                     ______ Tenants in Common

                          ______Tenancy by the Entirety

                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT

<PAGE>

PARTNERSHIPS, CORPORATIONS OR OTHER ENTITIES:

      IN WITNESS WHEREOF, Investor has caused this Registration Rights Agreement
to be executed as of the date indicated below.

$
 ----------------------------------         ------------------------------------
 Total Purchase Price ($2.00 per share)                Number of Shares

---------------------------------------
Print or Type Name of Entity

--------------------------------------------------------------------------------
Address

---------------------------------------     ------------------------------------
Taxpayer I.D. No. (if applicable)           Date

By:
    -----------------------------------     ------------------------------------
Signature: Name:                            Print or Type Name and Indicate
           Title:                                 Title or Position with Entity

---------------------------------------     ------------------------------------
Signature (other authorized signatory)      Print or Type Name and Indicate
                                            Title or Position with Entity

                                       -2-

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