Document:

Exhibit 10.38

March 31, 2001

Renshaw Travel Ltd.
2175 West 4th Avenue
Vancouver, BC  V6K 1N7

Dear Sirs:

Re:  AGREEMENT FOR CONVERSION OF DEBT INTO SHARES OF SOLPOWER CORPORATION
     (THE "AGREEMENT")

Renshaw  Travel  Ltd.,   ("Renshaw")  is  a  creditor  of  Solpower  Corporation
("Solpower").  Solpower  hereby agrees to issue 19,355 shares of common stock of
Solpower (the "Shares") to Renshaw. The Shares will be duly authorized,  validly
issued, fully paid,  non-assessable,  and free of preemptive rights, and will be
issued to Renshaw at a value of $0.25 per share,  in full  settlement  of a bona
fide outstanding debt in the amount of US$4,838.76 (the "Debt").

Renshaw hereby agrees that, upon the (a) issuance of the Shares by Solpower, and
(b)  delivery  of the  Shares  to  Renshaw,  free  and  clear of all  liens  and
encumbrances  the Debt will be fully satisfied and extinguished and Renshaw will
remise,  release and forever  discharge  Solpower and its  directors,  officers,
employees,  administrators,  successors  and  assigns  of and from all manner of
actions, causes of action, suits, debts, accounts, bonds, covenants,  contracts,
claims and demands  whatsoever which Renshaw has ever had, now has, or which its
heirs,  executors,  administrators or assigns, or any of them, can, shall or may
have for or by reason of any cause,  matter or thing  whatsoever  existing up to
the present time.

Renshaw  acknowledges  that the  issuance of the Shares has not been  registered
under the  Securities  & Exchange Act or any state  securities  law and have not
been  approved or  disapproved  by the United  States  Securities  and  Exchange
Commission ("SEC") or other federal or state regulatory authority.  These Shares
are issued  pursuant to an exemption  from  registration  under the Securities &
Exchange Act and are subject to restrictions on resale or transfer.

As soon as practicable  Solpower, at its sole expense, will use its best efforts
to file with the SEC a registration  statement on appropriate  form  registering
the Shares for resale (the "Registration").  Solpower shall use its best efforts
to cause the  registration  statement  upon which the Shares are  registered  to
become effective and shall keep the registration statement effective and updated
for at least two years after the date of this Agreement.
<PAGE>
Solpower and Renshaw agree that a) they will execute such further assurances and
other  documents and  instruments and do such further and other things as may be
necessary  to  implement  and carry out the  intent  of this  Agreement,  b) the
provisions herein contained  constitute the entire agreement between the parties
and supersede all previous understandings,  communications,  representations and
agreements,  whether written or verbal,  between the parties with respect to the
subject  matter  of the  Agreement,  c) this  Agreement  shall be  governed  and
construed  in  accordance  with the laws of the  State of  Arizona,  and d) this
Agreement  shall inure to the benefit of and be binding upon each of the parties
and their respective heirs, executors, administrators, successors and assigns.

IN WITNESS  WHEREOF,  the parties hereto have executed these presents  effective
this 31st day of March, 2001.

SIGNED, SEALED & DELIVERED               )
By SOLPOWER CORPORATION in the presence  )
of:                                      )  Per: /s/ James H. Hirst
                                         )     ---------------------------------
/s/ Giesle Hirst                         )     (Signature of Authorized Officer)
---------------------------------------- )
(Witness)                                )
4127 West Adams, Suite 2                 )
---------------------------------------- )
(Address)                                )
Phoenix, Arizona 85009                   )
---------------------------------------- )
(Zip Code)

SIGNED, SEALED & DELIVERED By            )
RENSHAW TRAVEL LTD. in the presence      )
of:                                      )  Per: /s/ Don Renshaw, Jr.
                                         )     ---------------------------------
/s/                                      )     (Signature of Authorized Officer)
---------------------------------------- )
(Witness)                                )
2175 West 4th Ave.                       )
---------------------------------------- )
(Address)                                )
Vancouver, B.C. V6K 1N4                  )
---------------------------------------- )
(Zip Code)<PAGE>   1

                                                         Exhibit No. 10(i)(b)(i)

CAUTION: THIS FORM IS ONLY FOR USE BY RESIDENTS OF AL, NJ AND VA. RESIDENTS OF
AK, DC, HI, ID, MT, NE, NM, ND, RI, SD, TN, UT, VT, WA, AND WY ARE NOT PERMITTED
TO PURCHASE SHARES IN THIS OFFERING. RESIDENTS OF ALL OTHER STATES MUST USE A
DIFFERENT FORM.

                                 INSTRUCTIONS TO
                   ACCREDITED INVESTOR SUBSCRIPTION AGREEMENT
                                       FOR
                             FANZ ENTERPRISES, INC.

     Persons interested in purchasing shares of Common Stock, $.01 par value per
share, ("Shares") of FanZ Enterprises, Inc. (the "Company") must :

     1.   FULLY complete and sign the attached Subscription Agreement (the
          "Agreement");

               PLEASE COMPETE THE ENTIRE FORM. INCOMPLETE FORMS WILL BE RETURNED
               TO YOU.

     2.   Include a check made payable to "FIRSTAR BANK, N.A., ESCROW ACCOUNT
          FOR FANZ ENTERPRISES, INC." (Please note the minimum amount of
          $250.00.)

     3.   Send the completed and signed AGREEMENT AND CHECK to:

                                      FanZ Enterprises, Inc.
                                      5419 Cayman Drive
                                      Carmel, IN  46033

     If and when accepted by the Company, the Agreement shall constitute a
subscription for Shares of the Company. THE MINIMUM INVESTMENT IS $250.00 (25
SHARES).

     The Company reserves the right to reject in its entirety any subscription
that is tendered or to allocate to any prospective purchaser a smaller number of
Shares than the prospective purchaser has subscribed to purchase. In such event,
the Company will return to you the Agreement, your payment (or a pro rata
portion of your payment, if subscription is rejected only in part), with
interest if your check or funds are deposited in the escrow account.

     A copy of the accepted Agreement will be returned to you as your receipt,
and a stock certificate will be issued to you shortly thereafter.

                                      PLEASE COMPLETE AND RETURN THE
                                      ATTACHED PAGES WITH YOUR CHECK

NOTE:    Before completing the attached subscription agreement, you should
         carefully and completely read the Company's Prospectus. In making your
         investment decision, you should rely only on the information in the
         Company's Prospectus and not on any other information.

<PAGE>   2

                   ACCREDITED INVESTOR SUBSCRIPTION AGREEMENT
                                       FOR
                             FANZ ENTERPRISES, INC.

I/we hereby irrevocably tender this Agreement for the purchase of _________
Shares (25 SHARES MINIMUM) at $10.00 per Share. With this Agreement, I/we tender
payment in the amount of $_______ ($10.00 per Share; $250.00 MINIMUM INVESTMENT)
for the Shares subscribed.

In connection with this investment in the Company, I/we represent and warrant as
follows (MUST INITIAL ALL CATEGORIES):

<TABLE>
<CAPTION>

<S>                                             <C>
____ (A) I am/we are bona fide resident(s) of                          ,                         .
                                              -------------------------  -------------------------
                                                          (State)                (Country)
</TABLE>

____ (B) I am/we are purchasing the shares for my/our own account.

____ (C) I/we have received a copy of the Company's Prospectus, dated

_____________, 2001.

____ (D) I/we understand that the shares being purchased are not liquid.

____ (E) I am/we are an "Accredited Investor" as defined in Rule 501 of
         Regulation D promulgated by the U.S. Securities and Exchange
         Commission, which means that I/we have either (i) an individual income
         of $200,000 or more in each of the two most recent years or joint
         income with my spouse in excess of $300,000 in each of those years and
         reasonably expect to reach the same income level in the current year
         OR (ii) an individual net worth or joint net worth with my spouse at
         the time of subscription of $1,000,000. (All computations of net worth
         must exclude the value of the investor's principal residence, its
         furnishings and personal automobile(s). All other assets should be
         valued at their fair market value).

PLEASE NOTE: The securities agencies of the following states require that
residents of these states must meet the investor suitability standards listed
below prior to being permitted to invest in the Company's Stock.

--------------------------------------------------------------------------------
ALABAMA, NEW JERSEY & VIRGINIA      Residents must have either (i) an individual
                                    income of $200,000 or more in each of the
                                    two most recent years or joint income with
                                    their spouse in excess of $300,000 in each
                                    of those years and reasonably expect to
                                    reach the same income level in the current
                                    year OR (ii) an individual net worth or
                                    joint net worth with their spouse at the
                                    time of subscription of $1,000,000. (All
                                    computations of net worth must exclude the
                                    value of the investor's principal residence,
                                    its furnishings and personal automobile(s).
                                    All other assets should be valued at their
                                    fair market value.)
--------------------------------------------------------------------------------
OHIO                                In order to subscribe for more than the
                                    minimum number of 25 Shares, residents must
                                    have either (i) an individual or joint
                                    annual income with their spouse in excess of
                                    $65,000 and an individual or joint net worth
                                    with their spouse of $65,000 (including the
                                    value of homes, home furnishings and
                                    automobiles) OR (ii) an individual or joint
                                    net worth with their spouse of $500,000
                                    (including the value of homes, home
                                    furnishings and automobiles).
--------------------------------------------------------------------------------

ARIZONA, ARKANSAS, CALIFORNIA,      Residents must have either (i) an
CONNECTICUT, DELAWARE, INDIANA,     annual gross income of $65,000 or more and
IOWA, KANSAS, KENTUCKY, MAINE,      a minimum net worth of $65,000 OR (ii) a
MARYLAND, MASSACHUSETTS,            minimum net worth of $150,000. (All
MICHIGAN, MINNESOTA, MISSISSIPPI,   computations of net worth must exclude the
MISSOURI, NEVADA, NEW HAMPSHIRE,    value of the investor's principal residence,
NORTH CAROLINA, OKLAHOMA, OREGON,   its furnishings and personal automobile(s).
PENNSYLVANIA, SOUTH CAROLINA,       All other assets should be valued at their
TEXAS, WEST VIRGINIA & WISCONSIN    fair market value.)

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

                        PLEASE CONTINUE ON THE NEXT PAGE

<PAGE>   3

Form/Type of Ownership for Shares Being Purchased (MUST check one):

___ Individual
___ Existing Partnership
___ Corporation
___ Minor with adult custodian
    under the Uniform Gift
    To Minors Act
___ Tenants-in-Common
___ Joint Tenants
___ Trust

For the person(s) who will be registered shareholder(s) (MUST FULLY COMPLETE):

Name of shareholder as you would like it to appear on stock certificate:

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

<TABLE>
<CAPTION>

<S>                                        <C>                                          <C>
Name(s):                                                                                Telephone:
        ----------------------------------                                                        ---------------------

Street Address:                                                                         Social Security or
               ---------------------------                                              Taxpayer ID No.:
                                                                                                        --------------

City:                                      State:  ____  Zip:                           Date of Birth:
     -----------------------------------                     ----------------                         --------------------------

Signature:                                                                              Date:
          -------------------------------------------------------------------                -----------------------------------
</TABLE>

<TABLE>
<CAPTION>

<S>                                                  <C>                                <C>
------------------------------------------------------------------------------------------------------------------------
ACCEPTED BY:  FANZ ENTERPRISES, INC.

By:                                                  Title:                              Date:
    ----------------------------------------                ------------------------          --------------------

Method of Payment:                                       Item No.
                  --------------------------                      -------------------------
------------------------------------------------------------------------------------------------------------------------
</TABLE>

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