Document:

LE
      -
      B -
      2007 - 85

     

     

    Loan
      Contract 

    

     

    Contract
      No.: SSY (Huanggang)
      Loan (2007)
      No. (C110340700242)

    Not
      Within the Line of Credit

     

    

    Party
      A
      (“Borrower”): Long-e
      Technologies (Shenzhen) Co., Ltd. 

    Address:
      6F,
      Building C, Huahan Innovation Park, Keyuan Road, Shenzhen Hightech Industrial
      Park

     

    Party
      B
      (“Lender”): Shenzhen Commercial Bank- Huanggang
      Branch

    Address:
      F1,
      Jiahui New Building, Shennan Middle Road

     

     

    This
      Contract is made and entered into by and between Party A and Party B through
      friendly negotiations in accordance with the Contract Law and other relevant
      laws and regulations in respect of Party A’s application to Party B for
      borrowing loans from Party B.

     

     

    Article
      1 The Loan

     

    
      	
              1.1

            	
              The
                Loan Amount: RMB (in words) eight
                million RMB.

            

    

     

    
      	
              1.2

            	
              The
                Loan Purpose: working
                capital.

            

    

     

    
      	
              1.3

            	
              The
                Loan Repayment Term: 12
                months.

            

    

     

    The
      actual amount of the loan and term thereof shall be that as specified in the
      Promissory Note, subjecting to the provisions covenanted herein. 

     

    
      	
              1.4

            	
              Interest
                and Calculation and Payment Thereof

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    
      	 	
              (1)

            	
              The
                rate of interest on the Loan hereunder shall be 6.57%
                per
                annum. Interest
                shall be calculated on the basis of the actual days of using the
                Loan.
                Daily interest rate = annual interest rate/360. Each 20th
                day shall be the Interest Payment Date. The maturity date shall be
                the
                Final Interest Payment Date, on which interest shall be repaid with
                principal.

            

    

     

    
      	 	
              (2)

            	
              If
                after this Contract is executed, the national loan interest rate
                is
                adjusted or the method of calculation of the interest is changed
                before
                the Loan is made to Borrower’s account, Party B shall have right to adjust
                the interest rate hereunder according to relevant national rules
                without
                otherwise notifying Party A thereof.

            

    

     

    
      	 	
              (3)

            	
              Party
                B shall have right to adjust on quarterly basis the rate of interests
                on
                medium and long-term loans of above one (1) year in accordance with
                the
                adjustment of the national benchmark interest rate and particular
                loan
                risks. 

            

    

     

    
      	 	
              (4)

            	
              During
                the term of the Loan, in the event of any changes made by the national
                authorities in the interest rate, manner of adjustment thereof and/or
                method of calculation of interest, relevant rules stipulating such
                changes
                shall be implemented. 

            

    

     

    
      	
              1.5

            	
              Fees
                accrued from the Loan, including but not limiting to stamp duty,
                costs of
                communication and correspondences, post charges and information service
                charges, shall be borne by Party A. Any such fees charged by Party
                B for
                the Loan shall not be refunded to Party A no matter whether Party
                A uses
                the Loan or not. 

            

    

     

     

    Article
      2 Making the Loan

     

    
       

      
        	
                2.1

              	
                Before
                  making the Loan to the account of Borrower, Party B shall have
                  right to
                  review and audit the following matters and determine whether to
                  make the
                  Loan or not based on the result of its review and audit, which,
                  nevertheless, shall not constitute Party B’s
                  obligation.

              

      

      
         

        
          	 	
                  (1)

                	
                  Whether
                    all governmental approvals, licenses, registrations, deliveries
                    and other
                    procedures required by law in connection with the Loan hereunder
                    have been
                    obtained or fulfilled by Party A in accordance with relevant
                    laws and
                    regulations; 

                

        

        
           

          
            	 	
                    (2)

                  	
                    Whether
                      relevant guarantee contract has entered into
                      effect;

                  

          

          
             

            
              	 	
                      (3)

                    	
                      Whether
                        Party A has paid up any and all the fees in relating to this
                        Contract;

                    

            

            
               

              
                
                   

                

                
                   

                  
                    

                  

                

                
                   

                

              

              
                	 	
                        (4)

                      	
                        Whether
                          Party A has fulfilled the conditions of making the loan
                          as required by
                          Party B;

                      

              

              
                 

                
                  	 	
                          (5)

                        	
                          Whether
                            Party A and its Guarantor experience unfavorable changes
                            in their
                            operating and financial conditions;
                            and

                        

                

                
                   

                  
                    	 	
                            (6)

                          	
                            Whether
                              Party A otherwise breaches this Contract. 

                          

                  

                

              

            

          

        

      

    

     

    
      
        	
                2.2

              	
                In
                  the case that Guarantor requires to stop making the Loan, Party
                  B shall
                  suspend its issuance of loans to Party A.

              

        	 	 

        	 	
                The
                  notice of suspension of the Loan issued by Party B shall be deemed
                  as
                  served to Party A if it is delivered by registered mail to Party
                  A’s such
                  address as provided in this Contract. In the event that Party A
                  fails to
                  provide
                  

                satisfactory
                  guarantee within the period specified by Party B in its notice,
                  Party B
                  shall have right to cancel this Contract or declare earlier expiry
                  thereof. 

              

        	 	 

        	2.3 	After making the Loan, Party B shall have right
                to
                supervise the use of it. 

      

       

    

    Article
      3 Repayment

    
       

      
        
          	
                  3.1

                	
                  Party
                    A shall make repayments hereunder in the following method:
                    

                

          	 	
                   

                

          	 	Installment repayment: interest
                  shall be paid monthly; each sum of 500,000 RMB principal of the
                  Loan shall
                  be repaid monthly as of the next month after the Loan is made to
                  Party A’s
                  account; and the rest payments shall be paid up in one lump sum
                  when the
                  Loan is due.

          	 	 

          	3.2 	Party A shall repay the principal of the Loan
                  hereunder
                  and pay interest thereon in full amount in a timely manner. Any
                  sum of
                  loan outstanding when it is due shall be taken as overdue loan
                  if the term
                  thereof is not agreed by Party B to be extended. In the case of
                  any sum of
                  overdue loan, Party B shall have right to require Party A to repay
                  the
                  Loan in full amount in advance and claim for penalty for late payment
                  against Party A on the total amount of the Loan.

          	 	 

          	3.3	Party A hereby irrevocably authorizes Party
                  B to withhold
                  the due principal of each sum of the Loan and interest thereon
                  and
                  relevant fees in relating thereto from any account of Party A.
                  If the
                  money withheld is insufficient to satisfy all the due debts of
                  Party A, it
                  shall be used in priority to pay fees, then interest and finally
                  principal. 

          	 	 

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	3.4	Party A may make earlier repayment of the Loan
                  after
                  agreed by Party B. Party A shall give a seven (7) days prior notice
                  to
                  Party B of earlier repayment, which is irrevocable once it is confirmed
                  by
                  Party B. 

        

         

      

    

     

    Article
      4 Borrower’s Representations and Warranties

     

    
      	4.1  
              	
              Party
                A shall open account(s) in Party B and give priority to Party B in
                depositing money and clearing
                payments.

            

    

     

    
      	4.2  
              	
              Party
                A accepts and warrants to cooperate with Party B in supervising and
                checking Party A’s operating conditions and use of the Loan, timely
                provide to Party B with financial statements and other relevant materials
                required by Party B, and guarantee the truthfulness, completeness
                and
                accuracy of the documents and materials provided.
                

            

    

     

    
      	4.3  
              	
              The
                credit to Party B shall be satisfied in priority to the credit to
                Party
                A’s shareholders.

            

    

     

    
      	4.4  
              	
              Upon
                the occurrence of any of the following circumstances, Party A shall
                give a
                30-day prior written notice to Party B and take no action before
                paying
                all the debts hereunder or providing to Party B with satisfactory
                repayment plan and guarantee:

            

    

     

    
      	   (1)  	
              Party
                A’s operating structure, organizational form and major business experience
                material changes, including but not limiting to contract businesses,
                leased operation, joint operation, stock transformation, merger and
                acquisition, combination, joint venture (joint cooperative venture),
                split, establishment of subsidiaries, sale of business, transfer
                of
                properties, reduction of capital, and shut down for subjectively
                reason;
                

            

    

     

    
      	   (2)  	
              Party
                A sells, gifts, rents, lends, transfers, mortgages (pledges), or
                otherwise
                disposes its important assets (mainly refer to fixed assets) of a
                value
                exceeding 10% of its net assets;

            

    

     

    
      	   (3)  	
              The
                dividends distributed by Party A exceed 30% of its profits net of
                tax;

            

    

     

    
      	   (4)  	
              The
                outward investments made by Party A exceed 20% of its net
                assets;

            

    

     

    
      	   (5)  	
              Party
                A modifies the terms and conditions of its debts agreed with other
                creditor, and repays other long-term debts in
                advance;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	   (6)  	
              Party
                A repays its debts owed to its shareholders;
                or

            

    

     

    
      	   (7)  	
              Party
                A applies to other creditor for credit or provides guarantee to a
                third
                party, which involves an amount of debt exceeding 10% of its net
                assets.
                

            

    

     

    
      	4.5   
              	
              Within
                seven (7) days as of the date the following event(s) occurs or might
                occur, Party A shall give a written notice thereof to Party B and
                work out
                a specific solution to repayment of all the debts
                hereunder:

            

    

     

    
      	   (1)  	
              Party
                A or its Guarantor experiences deteriorating operating conditions
                (as
                caused, for example, by improper operation or management, or by heavy
                losses);

            

    

     

    
      	   (2)  	
              Party
                A or its Guarantor involves in serious action, or such mandatory
                measures
                as attachment are taken against the substantial assets of Party A
                or its
                Guarantor;

            

    

     

    
      	   (3)  	
              Party
                A or its Guarantor provides guarantee to a third party, which produces
                materially adverse influences upon Party A’s or the Guarantor’s financial
                conditions or Party A’s capacity to fulfill its obligations
                hereunder;

            

    

     

    
      	   (4)  	
              Party
                A or its Guarantor winds up, reorganizes, dissolves, bankrupts, or
                is
                unlicensed; 

            

    

     

    
      	   (5)  	
              Guarantor’s
                operating structure and organizational form change
                substantially;

            

    

     

    
      	   (6)  	
              The
                value of the collateral apparently
                decreases;

            

    

     

    
      	   (7)  	
              Party
                A’s legal representative, address and/or telephone number changes;
                or

            

    

     

    
      	   (8)  	
              Other
                significant events that affects Party A’s operating
                activities.

            

    

     

    
      	4.6   
              	
              Party
                A warrants to maintain a reasonable financial ratio during the term
                of the
                Loan.

            

    

     

     

    Article
      5 Default

     

    
      	5.1   
              	
              Each
                of the following events shall constitute an Event of Default as defined
                in
                this Article:

            

    

     

    
      	   (1)  	
              Party
                A misappropriates the Loan for other
                purpose;

            

    

     

    
      	   (2)  	
              Party
                A delays the payment of principal or interest thereon or any fees
                hereunder;

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	   (3)  	
              Party
                A breaches its representations and warranties made
                hereunder;

            

    

     

    
      	   (4)  	
              Party
                A or its Guarantor shifts away properties or illegally withdraws
                its
                capital in order to evade payment of
                debts;

            

    

     

    
      	   (5)  	
              Party
                A breaches any terms or conditions of this
                Contract;

            

    

     

    
      	   (6)  	
              The
                legal representative or chief management of Party A or its Guarantor
                involves in criminal cases; or

            

    

     

    
      	   (7)  	
              Party
                A delays its performance of other contract entered into with Party
                B or
                other bank or otherwise breaches such contract.

            

    

     

    
      	5.2   
              	
              Upon
                occurrence of any Event of Default, Party B shall have right to take
                the
                following measures:

            

    

     

    
      	   (1)  	
              cease
                making the unused sum of the Loan to Party A’s
                account;

            

    

     

    
      	   (2)  	
              declare
                earlier maturity of all the principals of the Loan already granted
                hereunder and require Party A to immediately repay them together
                with
                interest thereon; 

            

    

     

    
      	   (3)  	
              require
                Party A to provide satisfactory guarantee;

            

    

     

    
      	   (4)  	
              inform
                relevant entities of such Event of Default and release it on media;
                and/or

            

    

     

    
      	   (5)  	
              other
                remedies provided by laws and regulations.

            

    

     

    
      	5.3   
              	
              If
                Party A fails to pay any sum of principal of the Loan in full amount
                in
                time, Party B will charge penalty for late payment against Party
                A at a
                per annum interest rate equal to 50% above the interest rate specified
                herein calculated upon such sum from and including the overdue date.
                If
                Party A fails to pay interest on the Loan in time, Party B will charge
                compound interest against Party A at the interest rate of the penalty
                for
                late payment. If Party A fails to use the Loan for such purpose as
                specified herein, Party B shall charge penalty for misuse of the
                Loan
                against Party A at an interest rate equal to 100% above the interest
                rate
                specified herein. Party A shall bear any and all the fees accrued
                from
                Party B’s realization of its credit (including but not limiting to fees
                for payment calls, action or arbitration expenses, attorney fees,
                account
                transfer fees, travel expenses,
                etc.).

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
      6 Other Covenants 

     

    Party
      A warrants that: any follow-up audit of capitals and clearance of payments
      in
      foreign currency shall be performed with/at Party B’s place. If Party A breaches
      this Article, Party B shall have right to claim back its loan in
      advance.

     

    

     

    Article
      7 Miscellaneous Provisions

     

    
      	7.1   
               	
              Party
                B may transfer, fully or partially, its rights hereunder to any third
                party and Party A acknowledges that Party B shall not be subject
                to notify
                Party A of such transfer. If Party A is required to perform its
                obligations hereunder to the transferee, Party B will otherwise notify
                Party A thereof.

            

    

     

    
      	7.2   	
              Party
                B shall have right to require for public notarization that is compulsorily
                enforceable.

            

      	 	 

    

    
      	7.3   
              	
              All
                the debts of Party A hereunder shall be guaranteed by such guarantor
                that
                is acknowledged by Party B, subjecting to additional execution of
                a
                guarantee contract to be attached hereto.

            

    

     

    
      	7.4   
              	
              The
                Promissory Note hereunder and relevant documents and materials confirmed
                by the Parties as related hereto shall be an inseparable part of
                this
                Contract.

            

    

     

    
      	7.5   
              	
              Any
                dispute in relating to this Contract shall be governed by the local
                court
                in jurisdiction of Party B. This Contract shall be governed by the
                laws of
                the People’s Republic of China. 

            

    

     

    
      	7.6   
              	
              This
                Contract shall enter into effect after it is signed and stamped by
                the
                Parties’ respective legal representative or authorized representative. If
                Party A fails to withdraw any sum of the Loan within three (3) months
                after the Effective Date hereof, Party B shall have right to terminate
                this Contract.

            

    

     

    
      	7.7   	
              This
                Contract is prepared in four copies. Party B will hold two copies
                and
                Party A will hold one copy.

            

    

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	Borrower (Stamp) 	Lender (Stamp)
	 	 
	Long-e Technologies (Shenzhen) Co.,
              Ltd. 	Shenzhen Commercial Bank - Huanggang
              Branch
	 	 
	Legal or Authorized
              Representative: 	Legal or Authorized
              Representative:
	(Signature)	(Signature)
	 	 
	Date of Signature: July 18, 2007 	Date
              of Signature: July 23, 2007
	 	 
	Place of Signature:	Place of Signature:
	 	 
	/s/ Bu Shengfu	/s/
              Zhang ZhengqingExhibit
      10.31

    

    Magnitude
      Information Systems, Inc.

    1250
      Route 28

    Suite
      309

    Branchburg,
      New Jersey 08876

    

    January
      30, 2008

    

    VIA
      HAND DELIVERY

    Kiwibox
      Media, Inc.

    330
      West
      38th
      Street

    New
      York,
      New York 10018

    

    Attention:
      Messrs. Lin Dai, Michael Howard and Ivan Tumanov

    

    Gentlemen:

    

    This
      shall serve as a “standstill agreement” between the parties with respect to a
      certain Agreement and Plan of Reorganization, dated February 19, 2007, and
      as
      amended by Amendments Nos.1 through 5, (collectively, the “Agreement”). The
      parties agree to extend any and all rights, deadlines, obligations,
      requirements, payments and the like, as well as not to exercise any of their
      respective rights, under the terms and provisions of the Agreement during the
      period from today through 5:00 pm, Eastern Time on February 10, 2008.

     

    
      	 	 	 
	 	Magnitude
              Information Systems, Inc.
	 
 	 
 	 
 
	 	By:  	/s/ Edward
              L.
              Marney
	 	
              
Edward
              L. Marney,
              President

    Agreed
      to
      and Accepted:

    

    Kiwibox
      Media, Inc.

    
      	 	 	 	 
	By:
              /s/ Lin
              Dai	 	 	 
	
              
Lin
              Dai, President	 	 	
            

     

    
      
        	
                /s/
                  Ivan
                  Tumanov                             
                  

              	
                /s/
                  Michael
                  Howard                                    
                  

              	
                /s/
                  Lin
                  Dai                                
                  

              
	
                Ivan
                  Tumanov 

              	
                Michael
                  Howard

              	
                Lin
                  Dai

              
	
                Kiwibox
                  Shareholder

              	
                Kiwibox
                  Shareholder

              	
                Kiwibox
                  Shareholder

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