Document:

Exhibit 10.16

 

SUBSCRIPTION AGREEMENT

 

Upstream Worldwide, Inc.

200 E. Broward Blvd., Suite 1200

Ft. Lauderdale, FL 33301

Attention: Daniel Brauser, CFO

 

Dear Mr. Brauser:

 

1.           Offer
to Purchase.

 

(a)          I,
the undersigned investor (the “Investor”), intending to be legally bound, hereby subscribe for ___________ shares of
Series A Preferred Stock (the “Preferred Stock”) convertible into shares of common stock of Upstream Worldwide, Inc.,
a Delaware corporation (the “Company”) on the terms set forth herein. The purchase price of the Preferred Stock is
$1.00 per share. Each share of Preferred Stock automatically converts into five shares of common stock upon the Company effecting
a reverse stock split reducing our outstanding common stock to 10 million shares(which includes shares issuable upon conversion
of Series B and C Preferred Stock), prior to reductions due to cancellation of fractional shares. There is a $50,000 minimum purchase
requirement. The principal terms of the offering are summarized on the Term Sheet dated November 28,
2011 (the “Term Sheet”) which the Investor acknowledges receipt of. 

 

(b)          The
Investor acknowledges that this subscription may be accepted or rejected in whole or in part by the Company in its sole discretion
and that this subscription is and shall be irrevocable unless the Company rejects it.

 

2.           Subscription
Payment. As payment for this subscription, simultaneously with the execution hereof, I am (i) wire transferring to the Company
or (ii) delivering herewith to the Company a check made payable to the Company in the amount of $_______________.

 

3.           Company
Representations and Warranties. The Company represents and warrants to and agrees with the Investor that:

 

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(a)          Due
Incorporation. The Company is a corporation or other entity duly incorporated or organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or organization and has the requisite corporate power to own its properties
and to carry on its business as presently conducted. The Company is duly qualified as a foreign corporation to do business and
is in good standing in each jurisdiction where the nature of the business conducted or property owned by it makes such qualification
necessary, other than those jurisdictions in which the failure to so qualify would not have a Material Adverse Effect. For purposes
of this Agreement, a “Material Adverse Effect” shall mean a material adverse effect on the financial condition, results
of operations, prospects, properties or business of the Company and its Subsidiaries taken as a whole. For purposes of this Agreement,
“Subsidiary” means, with respect to any entity at any date, any corporation, limited or general partnership, limited
liability company, trust, estate, association, joint venture or other business entity of which more than 30% of (i) the
outstanding capital stock having (in the absence of contingencies) ordinary voting power to elect a majority of the Board of Directors
or other managing body of such entity, (ii) in the case of a partnership or limited liability company, the interest in the
capital or profits of such partnership or limited liability company or (iii) in the case of a trust, estate, association,
joint venture or other entity, the beneficial interest in such trust, estate, association or other entity business is, at the time
of determination, owned or controlled directly or indirectly through one or more intermediaries, by such entity. The Company’s
Subsidiaries are as follows: HD Capital Holdings, LLC, a Delaware limited liability company; Money4Gold WY, Inc., a Delaware corporation;
and Upstream Phone Company USA, Inc., a Delaware corporation.

 

(b)          Outstanding
Stock. All issued and outstanding shares of capital stock of the Company and its Subsidiaries have been duly authorized and
validly issued and are fully paid and non-assessable.

 

(c)          Authority;
Enforceability. This Agreement, the Term Sheet, the and any other agreements delivered together with this Agreement or in connection
herewith (collectively “Transaction Documents”) have been duly authorized, executed and delivered by the Company and
Subsidiaries (as applicable) and are valid and binding agreements of the Company enforceable in accordance with their terms, subject
to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to
or affecting creditors’ rights generally and to general principles of equity. The Company has full corporate power and authority
necessary to enter into and deliver the Transaction Documents and to perform its obligations thereunder.

 

(d)          Consents.
No consent, approval, authorization or order of any court, governmental agency or body or arbitrator having jurisdiction over the
Company, or any of its Affiliates, the Over-the-Counter Bulletin Board. (the “Bulletin Board”) or the Company's shareholders
is required for the execution by the Company of the Transaction Documents and compliance and performance by the Company of its
obligations under the Transaction Documents, including, without limitation, the issuance and sale of the Preferred Stock. The Transaction
Documents and the Company’s performance of its obligations thereunder have been approved by the Company’s Board of
Directors. Shareholder approval is required to effect the reverse stock split.

 

(e)          No
Violation or Conflict. Assuming the representations and warranties of the Investor in this Agreement are true and correct,
neither the issuance and sale of the Preferred Stock nor the performance of the Company’s
obligations under this Agreement and all other agreements entered into by the Company relating thereto by the Company will:

  

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(i)          violate,
conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the lapse of time
or both would be reasonably likely to constitute a default) under (A) the articles or certificate of incorporation, charter or
bylaws of the Company, (B) to the Company's knowledge, any decree, judgment, order, law, treaty, rule, regulation or determination
applicable to the Company of any court, governmental agency or body, or arbitrator having jurisdiction over the Company or over
the properties or assets of the Company or any of its Affiliates, (C) the terms of any bond, debenture, note or any other evidence
of indebtedness, or any agreement, stock option or other similar plan, indenture, lease, mortgage, deed of trust or other instrument
to which the Company or any of its Affiliates is a party, by which the Company or any of its Affiliates is bound, or to which any
of the properties of the Company or any of its Affiliates is subject, or (D) the terms of any "lock-up" or similar provision
of any underwriting or similar agreement to which the Company, or any of its Affiliates is a party except the violation, conflict,
breach, or default of which would not have a Material Adverse Effect; or

 

(ii)         result
in the creation or imposition of any lien, charge or encumbrance upon the Preferred Stock or
any of the assets of the Company or any of its Affiliates except in favor of Investor as described herein.

 

(f)          The
Preferred Stock. The Preferred Stock upon issuance:

 

(i)         will
be, free and clear of any security interests, liens, claims or other encumbrances, subject only to restrictions upon transfer under
the Securities Act of 1933 (the “1933 Act”) and any applicable state securities laws;

 

(ii)         subject
to filing a certificate of designation with the secretary of state of Delaware, will be, duly and validly authorized, fully paid
and non-assessable;

 

(iii)        will
not have been issued or sold in violation of any preemptive or other similar rights of the holders of any securities of the Company
or rights to acquire securities of the Company;

 

(iv)         will
not subject the holders thereof to personal liability by reason of being such holders; and

 

(v)          assuming
the representations warranties of the Investor as set forth in this Agreement hereof are true and correct, will not result in a
violation of Section 5 under the 1933 Act.

 

(g)          Litigation.
There is no pending or, to the best knowledge of the Company, threatened action, suit, proceeding or investigation before any court,
governmental agency or body, or arbitrator having jurisdiction over the Company, or any of its Affiliates that would affect the
execution by the Company or the complete and timely performance by the Company of its obligations under the Transaction Documents.
Except as disclosed in the Term Sheet or our filings with the Securities and Exchange Commission (the “Reports”), there
is no pending or, to the best knowledge of the Company, basis for or threatened action, suit, proceeding or investigation before
any court, governmental agency or body, or arbitrator having jurisdiction over the Company, or any of its Affiliates which litigation
if adversely determined would have a Material Adverse Effect.

 

(h)          No
Market Manipulation. The Company and its Affiliates have not taken, and will not take, directly or indirectly, any action designed
to, or that might reasonably be expected to, cause or result in stabilization or manipulation of the price of the Company’s
common stock to facilitate the sale or resale of the Preferred Stock or affect the price at which
the Preferred Stock may be issued or resold.

 

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(i)          Information
Concerning Company. The Reports contain all material information relating to the Company and its operations and financial condition
as of their respective dates which information is required to be disclosed therein. Since September 30, 2011 and, except as modified
in the Reports, there has been no Material Adverse Event relating to the Company’s business, financial condition or affairs.
The Reports including the financial statements included therein do 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, taken as a whole, not misleading
in light of the circumstances when made.

 

(j)          Defaults.
The Company is not in violation of its certificate of incorporation or bylaws. The Company is (i) not in default under or in violation
of any other material agreement or instrument to which it is a party or by which it or any of its properties are bound or affected,
which default or violation would have a Material Adverse Effect, (ii) not in default with respect to any order of any court, arbitrator
or governmental body or subject to or party to any order of any court or governmental authority arising out of any action, suit
or proceeding under any statute or other law respecting antitrust, monopoly, restraint of trade, unfair competition or similar
matters, or (iii) not in violation of any statute, rule or regulation of any governmental authority which violation would have
a Material Adverse Effect.

 

(k)          No
Integrated Offering. Neither the Company, nor any of its Affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales of any security of the Company nor solicited any offers to buy any security of the Company
under circumstances that would cause the offer of the Preferred Stock pursuant to this Agreement
to be integrated with prior offerings by the Company for purposes of the 1933 Act or any applicable stockholder approval provisions,
including, without limitation, under the rules and regulations of the Bulletin Board. No prior offering will impair the exemptions
relied upon in this offering or the Company’s ability to timely comply with its obligations hereunder. Neither the Company
nor any of its Affiliates will take any action or steps that would cause the offer or issuance of the Preferred Stock
to be integrated with other offerings which would impair the exemptions relied upon in this offering or the Company’s ability
to timely comply with its obligations hereunder. The Company will not conduct any offering other than the transactions contemplated
hereby that may be integrated with the offer or issuance of the Preferred Stock that would impair
the exemptions relied upon in this offering or the Company’s ability to timely comply with its obligations hereunder. While
the ecoSquid Acquisition, Inc. exchange offer and its financing may be integrated, it will not effect the exemptions.

 

(l)          No
General Solicitation. Neither the Company, nor any of its Affiliates, nor to its knowledge, any person acting on its or their
behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the 1933
Act) in connection with the offer or sale of the Preferred Stock.

 

(m)         No
Undisclosed Liabilities. The Company has no liabilities or obligations which are material, individually or in the aggregate,
other than those incurred in the ordinary course of the Company businesses since September 30, 2011 and which, individually or
in the aggregate, would reasonably be expected to have a Material Adverse Effect, except as disclosed in the Reports.

 

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(n)          No
Undisclosed Events or Circumstances. Since September 30, 2011, except as disclosed in the Reports or in any press releases,
no event or circumstance has occurred or exists with respect to the Company or its businesses, properties, operations or financial
condition, that, under applicable law, rule or regulation, requires public disclosure or announcement prior to the date hereof
by the Company but which has not been so publicly announced or disclosed in the Reports.

 

(o)          No
Disagreements with Accountants and Lawyers. There are no material disagreements of any kind presently existing, or reasonably
anticipated by the Company to arise between the Company and the accountants and lawyers previously and presently employed by the
Company, including but not limited to disputes or conflicts over payment owed to such accountants and lawyers, nor have there been
any such disagreements during the two years prior to this Agreement.

 

(p)          Investment
Company. Neither the Company nor any Affiliate of the Company is an “investment company” within the meaning of
the Investment Company Act of 1940, as amended.

 

(q)          Foreign
Corrupt Practices. Neither the Company, nor to the knowledge of the Company, any agent or other person acting on behalf of
the Company, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful
expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials
or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully
any contribution made by the Company (or made by any person acting on its behalf of which the Company is aware) which is in violation
of law, or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977.

 

(r)          Listing.
The Company’s common stock is quoted on the Bulletin Board under the symbol UPST. The Company has not received any oral or
written notice that its common stock is not eligible nor will become ineligible for quotation on the Bulletin Board nor that its
common stock does not meet all requirements for the continuation of such quotation. The Company satisfies all the requirements
for the continued quotation of its common stock on the Bulletin Board.

 

(s)          Survival.
The foregoing representations and warranties shall survive for one year following payment for the Preferred Stock.

 

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4.           Representations
and Warranties of the Investor.

 

The Investor hereby severally
represents and warrants to the Company as follows:

 

(a)          The
Investor has all requisite power and authority to enter into this Agreement and to purchase the Preferred Stock set forth herein
or on the signature page. This Agreement, when executed and delivered by the Investor, will constitute a valid and legally binding
obligation of the Investor, enforceable against him, her or it in accordance with its terms.

 

(b)          The
Investor is acquiring the Preferred Stock and the underlying common stock to be purchased by such Investor for his own account
for investment and not with a view to, or for sale in connection with, any distribution thereof, nor with any present intention
of distribution or selling the same, and, except as contemplated by this Agreement, such Investor has no present or contemplated
agreement, undertaking, arrangement, obligation, indebtedness or commitment providing for the disposition thereof. The Investor
understands that the Preferred Stock and the underlying common stock may not be sold, transferred or otherwise disposed of without
registration under the Securities Act or an exemption therefrom.

 

(c)          The
Investor understands that the Preferred Stock (and the underlying shares of common stock) are not registered under the Securities
Act in reliance on an exemption from registration under the Securities Act pursuant to Section 4(2) thereof and Rule 506 thereunder
and the Preferred Stock will bear a restrictive legend.

 

(d)          The
Investor acknowledges that the purchase of the Preferred Stock, entails a high degree of risk, including the risk factors
contained in filings by the Company with the Securities and Exchange Commission including its annual report on Form 10-K for the
year ended December 31, 2010, the Term Sheet and in other publicly available information.

 

(e)          The
Investor represents that he has had an opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of this Agreement and the reasons for this offering of the Preferred Stock, the business prospects of the Company, the
risks attendant to the Company’s business, and the risks relating to an investment in the Company. The Investor further acknowledges
that pursuant to Section 517.061(11)(a)(3), Florida Statutes and Rule 3E-500.05(a) thereunder, he has had an opportunity to obtain
additional information (to the extent the Company possesses such information and could acquire it without unreasonable effort or
expense) necessary to verify the accuracy of any information furnished to such Investor or to which such Investor had access. The
Company will put such information in writing if requested by the Investor. The Investor acknowledges the receipt (without exhibits)
of the Reports which include the Company’s annual report on Form 10-K with respect to the year ended December 31, 2010 and
the quarterly reports on Form 10-Q for the quarters ended March 31, 2011, June 30, 2011 and September 30, 2011 (as well as any
other reports) filed prior to the time the Investor submits his subscription. The Reports will be made available to the Investor
upon written request to the Company. The Investor is relying solely upon these Reports, other public information distributed by
the Company and other written information prepared by the Company. The Investor also represents that he has read this Subscription
Agreement.

 

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(f)          The
Investor represents that he is an “accredited investor” within the meaning of the applicable rules and regulations
promulgated under the Securities Act, is experienced in evaluating and investing in private placement transactions of securities
in similar circumstances and acknowledges that he:

 

		•	is able to fend for himself;

 

		•	can bear the economic risk of such Investor’s investment;

 

		•	has such knowledge and experience in financial and business matters that such Investor is capable of evaluating the merits
and risks of the investment in the Preferred Stock.

 

Further, the Investor:

 

		•	has adequate means of providing for his financial needs and contingencies,

 

		•	is able to bear the substantial economic risks of an investment in the Preferred Stock for an indefinite period of time,

 

		•	has no need for liquidity in such investment,

 

		•	has made commitments to investments that are not readily marketable which are reasonable in relation to the Investor’s
net worth, and

 

		•	can afford a complete loss of such investment.

 

(g)          The
Investor acknowledges that he is purchasing the Preferred Stock for an indefinite period of time, has no need for liquidity
in such investment, has made commitments to investments that are not readily marketable which are reasonable in relation to the
undersigned’s net worth and can afford a complete loss of such investment.

 

(h)          The
Investor has such knowledge and experience in financial, tax and business matters so as to enable it to utilize the information
made available to it in connection with the offering of the Preferred Stock to evaluate the merits and risks of an investment in
the Preferred Stock and to make an informed investment decision with respect thereto.

 

(i)          The
Investor is not relying on the Company with respect to the tax and other economic considerations of an investment in the Preferred
Stock, and the Investor has relied on the advice of, or has consulted with, only the Investor’s own advisors.

 

(j)          The
Investor is not subscribing for the Preferred Stock as a result of or subsequent to any advertisement, articles, notice or other
communication published in any newspaper, television or radio or presented at any seminar or meeting, or any solicitation of a
subscription by a person not previously known to the undersigned in connection with investments in securities generally.

 

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(k)          The
information contained in this Subscription Agreement is true and correct including any information which the Investor has furnished
and will furnish to the Company with respect to such Investor’s financial position, business experience and residence, is
correct and complete as of the date of this Subscription Agreement and if there should be any material change in such information
prior to the Company’s acceptance of this Subscription Agreement and the depositing of the payments described above, the
Investor will furnish such revised or corrected information to the Company. The representations, warranties and agreements of the
Investor contained herein shall survive the execution and delivery of this Agreement and the purchase of the Preferred Stock.

 

(l)          The
Investor acknowledges that he has received notice of his possible right under applicable Florida law to rescind the purchase of
the Preferred Stock within three business days following the payment of the purchase price as set forth in Section 8 hereof.

 

5.           Investor
Representations and Warranties Concerning Suitability, Accredited Investor and Eligible Client Status. I represent and warrant
the following information:

 

(a)          The
following information should be provided by the person making the investment decision whether on his own behalf or on behalf of
an entity:

 

	 	(1)	Name of Investor:	   	Age:	   

 

	 	(2)	Name of person making investment decision	 	 
	 	 	 	 	 
	 	 	 	Age:	 
	 		(Print)	 	 
	 	 	 	 	 
	 	(3)	Principal residence address and telephone number:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	(4)	Secondary residence address and telephone number:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

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	 	 	I have no present intention of becoming a resident of any other state or jurisdiction.
	 	 	 
	 	(5)	Name, address, telephone number and facsimile number of employer or business:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	(i)	Nature of business	 
	 	 	 	 	 
	 	 	(ii)	Position and nature of responsibilities
	 	 	 	 
	 	 	 	 

 

	 	(6)	Length of employment or in current position	 
	 	 	 	 
	 	(7)	Prior employment, positions or occupations during the past five years (and the inclusive dates of each) are as follows:

 

	 	Nature of Employment,

    or Occupation	 	Position/ Duties	 	From/To
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

 

 

	 	(8)	Business or professional education and the degree(s) received are as follows:

 

	 	School	 	Degree	 	Year Received
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	  	 	  	 
	 	 	 	 	 	 

 

		(b)	Accredited Investor Representations. Initial all appropriate
spaces on the following pages indicating the basis upon which the undersigned qualifies as an accredited investor (must initial
one).

 

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For Individual Investors Only:

 

(1)      _____    I
certify that I am an accredited investor because I have an individual net worth, or my spouse and I have combined net worth, in
excess of $1,000,000. For purposes of this question, “net worth” means the excess of total assets at fair market value
over total liabilities. The fair market value of my primary residence and the indebtedness on mortgages or deeds of trust related
to such residence shall be excluded unless the indebtedness exceeds the fair market value.

 

(2a)   _____   I
certify that I am an accredited investor because I had individual income (exclusive of any income attributable to my spouse) of
more than $200,000 in the two most recent calendar years and I reasonably expect to have an individual income in excess of $200,000
in the current year.

 

(2b)   _____   Alternatively,
my spouse and I have joint income in excess of $300,000 in each applicable year.

 

(3)    
_____   I am a director or executive officer of the Company.         

 

Other Investors:

 

(4)     ____
   The undersigned certifies that it is one of the following: any bank as defined in Section 3(a)(2) of the Securities
Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to section 15 of the Securities
Exchange Act of 1934; insurance company as defined in Section 2(13) of the Securities Act; investment company registered under
the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act; Small Business
Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment
Act of 1958; any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a
state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; employee
benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, if the investment decision is
made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance
company, or registered investment advisor, or if the employee benefit plan has total assets in excess of $5,000,000, or if a self-directed
plan, with investment decisions made solely by persons that are accredited investors.

 

(5)      _____   The
undersigned certifies that it is a private business development company as defined in Section 202(a)(22) of the Investment Advisors
Act of 1940.

 

(6)      _____  
The undersigned certifies that it is a organization described in Section 501(c)(3) of the Internal Revenue Code, corporation,
Massachusetts or similar business trust or partnership, not formed for the specific purpose of acquiring the securities offered,
with total assets in excess of $5,000,000.

 

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(7)    _____    The
undersigned certifies that it is a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring
the securities offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of the Securities
Act.

 

(8)    _____    The
undersigned certifies that it is an entity in which all of the equity owners are accredited investors.

 

(9)    _____  
  I am none of the above.

 

6.          Indemnification
by Investor. The Investor agrees to indemnify and hold the Company and its agents, representatives and employees harmless from
and against all liability, damage, loss, cost and expense (including reasonable attorneys’ fees) which they may incur by
reason of the failure of the Investor to fulfill any of the terms or conditions of this Agreement, or by reason of any inaccuracy
or omission in the information furnished by the Investor herein or any breach of the representations and warranties made by the
Investor herein or in any document provided by the Investor to the Company.

 

7.          Miscellaneous.

 

(a)          This
Agreement has been duly and validly authorized, executed and delivered by the Investor and constitutes the valid, binding and enforceable
agreement of the Investor. If this Agreement is being completed on behalf of an entity it has been completed and executed by an
authorized party.

 

(b)          This
Agreement and any documents referred to herein constitute the entire agreement between the parties hereto with respect to the subject
matter hereof and together supersede all prior discussions or agreements in respect hereof.

 

(c)          The
Company shall be notified immediately of any change in any of the information contained above occurring prior to the Investor’s
purchase of the Preferred Stock or at any time thereafter for so long as the undersigned is a holder of the Preferred Stock.

 

(d)          Governing
Law. This Agreement shall be governed by and construed under the laws of the State of Florida, without regard to any jurisdiction’s
conflicts of law provisions.

 

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8.           Florida
Blue Sky Legend.

 

FLORIDA LAW PROVIDES THAT WHEN
SALES ARE MADE TO FIVE OR MORE PERSONS IN FLORIDA, ANY SALE MADE IN FLORIDA IS VOIDABLE BY THE PURCHASER WITHIN THREE DAYS AFTER
THE FIRST TENDER OF CONSIDERATION IS MADE BY SUCH PURCHASER TO THE COMPANY, AN AGENT OF THE COMPANY OR AN ESCROW AGENT OR WITHIN
THREE DAYS AFTER THE AVAILABILITY OF THAT PRIVILEGE IS COMMUNICATED TO SUCH PURCHASER, WHICHEVER OCCURS LATER. ALL SALES IN THIS
OFFERING ARE SALES IN FLORIDA. PAYMENTS FOR TERMINATED SUBSCRIPTIONS VOIDED BY PURCHASERS AS PROVIDED FOR IN THIS PARAGRAPH WILL
BE PROMPTLY REFUNDED WITHOUT INTEREST. NOTICE SHOULD BE GIVEN TO THE COMPANY TO THE ATTENTION OF DANIEL BRAUSER AT THE ADDRESS
SET FORTH ON THE COVER PAGE OF THIS SUBSCRIPTION AGREEMENT.

 

Signature Pages To Follow

 

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IN WITNESS WHEREOF, the undersigned has executed this Subscription
Agreement as of ___________, 2011.

 

	 	 
	 	(Signature of subscriber)
	 	 
	 	PRINT NAME:
	 	 
	 	ENTITY NAME (IF APPLICABLE):
	 	 
	 	 
	 	 
	 	TITLE OF SIGNER (IF APPLICABLE):
	 	 
	 	 
	 	 
	 	TAXPAYER IDENTIFICATION OR 
	 	SOCIAL SECURITY NO.:	 
	 	 
	 	RESIDENCE OR BUSINESS ADDRESS:
	 	 
	 	 
	 	Street
	 	 
	 	 
	 	City	State	Zip
	 	 	 	 
	 	
        MAILING ADDRESS (If different from

        business

	 	address):
	 	 
	 	 
	 	Street	 	 
	 	 
	 	 
	 	City	State	Zip

 

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Signature Page To Subscription Agreement

 

ACCEPTED AND AGREED TO:

 

UPSTREAM WORLDWIDE, INC.

 

	By:	 	 
	 	Daniel Brauser	 
	 	Chief Financial Officer	 

 

Date: ______ ____, 2011

 

    	14Exhibit 10.18

 

PROMISSORY NOTE

 

	$350,000	February 29, 2012

 

FOR VALUE RECEIVED, ecoSquid Acquisition,
Inc., a Florida corporation and Upstream Worldwide, Inc., a Delaware corporation (each is the “Company”), jointly
and severally, promises to pay to Benjamin Gordon, in his capacity as representative for Cambridge Capital, LLC, a Delaware limited
liability company, David Stubbs, William Conley, Richard Metzler, Charles Fabrikant, Edward Mullen and Ayelet Mullen (collectively,
the “Holder”), at c/o Benjamin Gordon, 525 South Flagler Drive, Suite 200, West Palm Beach, Florida 33401, or
at such other office as the Holder designates in writing to the Company, the principal sum of Three Hundred Fifty Thousand and
No/100 Dollars ($350,000.00), together with interest thereon computed at the annual rate of Two Tenths of One Percent (.2%). A
principal payment in the amount of $150,000, plus accrued interest, shall be made on or before 30 days following the date of this
Note. All unpaid principal, together with any then accrued but unpaid interest and any other amounts payable hereunder, shall be
due and payable 60 days following the date of this Note (the “Maturity Date”), or such earlier date, if applicable,
under Section 1(b) below. The interest payable hereunder shall be computed by using the actual number of days in any given period.

 

1.   Event of
Default.

 

(a)   For purposes
of this Note, an “Event of Default” means:

 

(i)    
the Company shall default in the payment of interest and/or principal on this Note;

 

(ii)  
the Company shall fail to materially perform any covenant, term, provision, condition, agreement or obligation of the Company under
this Note (other than for non-payment) or under the Security Agreement securing the payment of this Note and such failure shall
continue uncured for a period of twenty (20) days after notice from the Holder of such failure;

 

(iii)  
an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (A) liquidation, reorganization
or other relief in respect of either Company or any of their debts, or of a substantial part of its assets, under any federal,
state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (B) the appointment of
a receiver, trustee, custodian, sequestrator, conservator or similar official for either Company or for a substantial part of any
of its assets, and, in any such case, such proceeding or petition shall continue undismissed for thirty (30) days or an order or
decree approving or ordering any of the foregoing shall be entered;

 

    	1

    	 

    

 

(iv)         either
Company shall (A) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief
under any federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (B) consent
to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause
(iii) of this Section 1(a), (C)  apply for or consent to the appointment of a receiver, trustee, custodian, conservator
or similar official for either Company or for a substantial part of its assets, (D) file an answer admitting the material
allegations of a petition filed against it in any such proceeding, (E) make a general assignment for the benefit of creditors
or (F) take any action for the purpose of effecting any of the foregoing;

 

(v)          either
Company shall sell or otherwise transfer all or substantially all of its assets or more than 50% of the issued and outstanding
capital stock of either Company shall no longer be owned by those persons owning the issued and outstanding capital stock of such
respective Company as of the date of this Note; provided, however, that a merger, consolidation or share exchange of one Company
with the other Company (or its subsidiary) or its shareholders, as applicable, shall not be deemed an Event of Default.

 

(b)   Upon the
occurrence of an Event of Default, the entire indebtedness with accrued interest thereon due under this Note shall, at the option
of the Holder, be immediately due and payable without notice. Failure to exercise such option shall not constitute a waiver of
the right to exercise the same in the event of any subsequent Event of Default.

 

(c)   Upon the
occurrence of an Event of Default, this Note shall immediately and automatically increase to and accrue at the rate of Twelve Percent
(12%) per annum.

 

2.   Prepayment.
The Company may prepay this Note at any time, in whole or in part, provided any such prepayment will be applied first to the payment
of expenses due under this Note, second to interest accrued on this Note and third, if the amount of prepayment exceeds the amount
of all such expenses and accrued interest, to the payment of principal of this Note.

 

3.   Miscellaneous.

 

(a)   Loss,
Theft, Destruction or Mutilation of Note. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Note and, in the case of loss, theft or destruction, delivery of an indemnity agreement reasonably
satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Note, the
Company shall execute and deliver, in lieu of this Note, a new note executed in the same manner as this Note, in the same principal
amount as the unpaid principal amount of this Note and dated the date to which interest shall have been paid on this Note or, if
no interest shall have yet been so paid, dated the date of this Note.

 

(b)   Payment.
All payments under this Note shall be made in lawful tender of the United States by wire transfer to an account designated by Holder.

 

(c)   Waivers.
Each Company hereby severally waives notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor
and all other notices or demands and all suretyship defenses and defenses in the nature thereof relative to this instrument.

 

    	2

    	 

    

 

(d)   Usury.
In the event that any interest paid on this Note is deemed to be in excess of the then legal maximum rate, then that portion of
the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and
applied against the principal of this Note.

 

(e)   Waiver
and Amendment. Any provision of this Note may be amended, waived or modified only by an instrument in writing signed by the
party against which enforcement of the same is sought.

 

(f)   Notices.
Any notice or other communication required or permitted to be given hereunder shall be in writing sent by mail, facsimile with
printed confirmation, nationally recognized overnight carrier or personal delivery and shall be effective upon actual receipt of
such notice, to the following addresses until notice is received that any such address or contact information has been changed:

 

To the Company:

 

ecoSquid Acquisition, Inc.

200 E. Broward Blvd, Suite 1200

Ft. Lauderdale FL 33301

Attention: Mr. Daniel Brauser, President

 

To Holder:

 

c/o Mr. Benjamin Gordon, as Representative

525 South Flagler Drive, Suite 200

West Palm Beach, Florida 33401

Attention: Mr. Benjamin Gordon

 

(g)   Expenses;
Attorneys’ Fees. Each Company, jointly and severally, agrees to pay all costs and expenses, including all reasonable
attorneys’ fees, for the collection of this Note upon an Event of Default.

 

(h)   Successors
and Assigns. This Note may not be assigned or transferred by the Holder prior to an Event of Default. Subject to the preceding
sentence, the rights and obligations of the Company and the Holder of this Note shall be binding upon and benefit the successors,
permitted assigns, heirs, administrators and permitted transferees of the parties.

 

    	3

    	 

    

 

(i)   Governing
Law; Jurisdiction. THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF FLORIDA
WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAWS. EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE PERSONAL AND
SUBJECT MATTER JURISDICTION OF THE SUPREME COURT OF THE STATE OF FLORIDA LOCATED IN THE PALM BEACH COUNTY OVER ANY SUIT, ACTION
OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE. EACH PARTY HEREBY IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY
LAW, (A) ANY OBJECTION THAT THEY MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH
COURT; AND (B) ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. FINAL JUDGMENT IN
ANY SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT SHALL BE CONCLUSIVE AND BINDING UPON EACH PARTY DULY SERVED WITH PROCESS
THEREIN AND MAY BE ENFORCED IN THE COURTS OF THE JURISDICTION OF WHICH EITHER PARTY OR ANY OF THEIR PROPERTY IS SUBJECT, BY A SUIT
UPON SUCH JUDGMENT.

 

4.          Secured
Obligation. The obligations of the Company under this Note are secured obligations of the Company, secured by certain assets
of the Company pursuant to that certain Security Agreement, dated as of the date hereof (the “Security Agreement”),
by and among the Company and the secured parties signatory thereto.

 

IN WITNESS WHEREOF,
each Company has caused this Note to be signed in its name by an authorized officer to take effect as a sealed instrument, as of
the date set forth above.

 

	Signed in the presence of:	 	ecoSquid Acquisition, Inc.
	 	 	 
	 	 	By: /s/ Daniel Brauser
	Witness	 	 Daniel Brauser, President
	Print Name and Address:	 	 
	 	 	 
		 	Upstream Worldwide, Inc. 
	 	 	 
	 	 	By: /s/ Daniel Brauser
	Witness	 	Name: Daniel Brauser
	Print Name and Address:	 	Title: Chief Financial Officer

 

    	4

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