Document:

GREYSTONE
          BUSINESS
          CREDIT
          II, L.L.C.

      

    

    CORPORATE
      GUARANTY

     

    
      	
              Borrowers
                (and
                each a Borrower):

            	
              
                TITAN
                  GLOBAL
                  HOLDINGS,
                  INC.,
                  a Utah 

                corporation

              

              

                TITAN
                  PCB WEST,
                  INC.,
                  a Delaware 

                corporation

              

               

              TITAN PCB
                EAST,
                INC.,
                a
                Delaware

              corporation

              
                
                   

                    OBLIO
                      TELECOM,
                      INC., a
                      Delaware

                    corporation

                  

                

              

              

                TITAN
                  WIRELESS
                  COMMUNICATIONS,
                  INC., a
                  Delaware

                corporation

              

              

                START
                  TALK
                  INC., a
                  Delaware corporation

              

              

                PINLESS,
                  INC., a
                  Texas corporation

              

               

            
	
              Guarantors
                (and each a Guarantor):

            	
              
                APP
                  ALACHIAN
                  OIL
                  COMPANY, a
                  Tennessee 

                corporation

              

              

                APPCO-KY,
                  INC., a
                  Tennessee corporation

              

            

    

    

    
      GREYSTONE
        BUSINESS
        CREDIT
        II, L.L.C. ("Lender"),
        provided and continues to provide certain financial accommodations to Borrowers
        pursuant to the terms of a Loan and Security Agreement among Borrowers and
        Lender, dated December 29, 2006 (as amended from time to time, the "Loan
        Agreement").
        As
        one of the conditions to continuing to provide financing under the Loan
        Agreement, Lender has required that each Guarantor guaranty all obligations
        of
        Borrowers to Lender.

    

     

    For
      value
      received and in consideration of any loan, advance or financial accommodation
      of
      any kind whatsoever heretofore, now or hereafter made, given or granted to
      any
      Borrower by Lender pursuant to the Loan Agreement, each Guarantor, jointly
      and
      severally, unconditionally guaranties the full and prompt payment when due,
      whether at maturity or earlier, by reason of acceleration or otherwise, and
      at
      all times thereafter, of the indebtedness, liabilities and obligations of every
      kind and nature of each Borrower to Lender (including, without limitation,
      all
      interest accruing after the filing of a proceeding under the Bankruptcy Code
      (as
      defined in the Loan Agreement) whether or not allowed by the court in such
      proceeding, and all other indebtedness, liabilities and obligations arising
      after the filing of any proceeding under the Bankruptcy Code), howsoever
      created, arising or evidenced, whether direct or indirect, absolute or
      contingent, joint or several, now or hereafter existing, or due or to become
      due, in each case arising under the Loan Agreement or the other Loan Documents
      (as defined in the Loan Agreement), plus all costs and expenses (including,
      without limitation, all court costs and reasonable attorneys' and paralegals'
      fees and expenses) paid or incurred by Lender in endeavoring to collect all
      or
      any part of such indebtedness, liabilities and obligations from, or in
      prosecuting any action against, any Guarantor or any other guarantor of all
      or
      any part of such indebtedness, liabilities and obligations (all such
      indebtedness, liabilities, obligations, costs and expenses being hereinafter
      referred to as "Borrowers'
      Obligations").
      All
      sums becoming due under this Guaranty shall bear interest from the due date
      thereof until paid at the highest rate charged with respect to any of Borrowers'
      Obligations under the Loan Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Each
      Guarantor agrees that its obligations under this Guaranty are unconditional,
      irrespective of (i) the validity or enforceability of Borrowers' Obligations
      or
      any note or other instrument evidencing Borrowers' Obligations, (ii) the absence
      of any attempt by Lender to collect Borrowers' Obligations from any Borrower
      or
      any other guarantor, (iii) Lender's waiver or consent with respect to any
      provision of the Loan Documents, (iv) Lender's failure to perfect or maintain
      its security interests in, or to preserve its rights with respect to, any of
      the
      Collateral (as defined in the Loan Agreement), (v) Lender's election, in any
      proceeding under Chapter 11 of the Bankruptcy Code, of the application of
      Section 1111(b)(2) of the Bankruptcy Code, (vi) any borrowing or grant of a
      security interest by any Borrower as debtor-in-possession under Section 364
      of
      the Bankruptcy Code, (vii) the disallowance, under Section 502 of the Bankruptcy
      Code, of all or any of Lender's claims for repayment of Borrowers' Obligations
      or (viii) any other circumstance which might constitute a legal or equitable
      discharge or defense of any Borrower or a guarantor.

     

    No
      payment made by or for the account or benefit of any Guarantor (including,
      without limitation, (i) a payment made by any Borrower in respect of Borrowers'
      Obligations, (ii) a payment made by any other Guarantor under this Guaranty
      or
      by any other person under any other guaranty of Borrowers' Obligations or (iii)
      a payment made by means of set off or other application of funds by Lender)
      shall entitle any Guarantor, by subrogation or otherwise, to any payment by
      any
      Borrower or any
      other
      Guarantor or from
      or
      out of any property of any Borrower or any other Guarantor, and no Guarantor
      shall exercise any rights or remedies against any Borrower or any other
      Guarantor or any property of any Borrower or any other Guarantor including,
      without limitation, any right of contribution, indemnity or reimbursement by
      reason of any performance by such Guarantor under this Guaranty, all of such
      rights of subrogation, contribution, indemnity and reimbursement being hereby
      waived by such Guarantor. The provisions of this paragraph shall survive the
      termination of this Guaranty or the release or discharge of any Guarantor from
      liability hereunder. Each Borrower is a third party beneficiary of the
      provisions of this paragraph.

     

    Each
      Guarantor hereby waives diligence, presentment, demand for payment, filing
      of
      claims with a court in the event of receivership or bankruptcy of any Borrower,
      protest or notice with respect to Borrowers' Obligations and all demands
      whatsoever, and covenants that this Guaranty will not be discharged, except
      by
      complete and irrevocable payment and performance of the obligations and
      liabilities contained herein. No notice to any party, including any Guarantor,
      shall be required for Lender to make demand hereunder. Such demand shall
      constitute a mature and liquidated claim against such Guarantor. At any time
      after maturity of Borrowers' Obligations, whether by acceleration or otherwise,
      Lender may, at its sole election, proceed directly and at once, without notice,
      against any Guarantor to collect and recover the full amount or any portion
      of
      Borrowers' Obligations, without first proceeding against any Borrower or any
      other person or against any of the Collateral. Lender shall have the exclusive
      right to determine the application of payments and credits, if any, from any
      Guarantor, any Borrower or any other person, on account of Borrowers'
      Obligations.

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    Lender
      is
      hereby authorized, without notice or demand to any Guarantor and without
      affecting or impairing the liability of any Guarantor hereunder, to from time
      to
      time (i) renew, extend, accelerate or otherwise change the time for payment
      of,
      or other terms relating to, Borrowers' Obligations or otherwise modify, amend
      or
      change the terms of any promissory note or other agreement, document or
      instrument now or hereafter executed by any Borrower and delivered to Lender;
      (ii) accept partial payments on Borrowers' Obligations; (iii) take and hold
      Collateral for the payment of Borrowers' Obligations, or for the payment of
      this
      Guaranty, or for the payment of any other guaranties of Borrowers' Obligations
      or other liabilities of any Borrower, and exchange, enforce, waive and release
      any Collateral; (iv) apply Collateral and direct the order or manner of sale
      thereof as it may determine in its sole discretion; and (v) settle, release,
      compromise, collect or otherwise liquidate Borrowers' Obligations and any
      Collateral in any manner.

     

    At
      any
      time after maturity of Borrowers' Obligations, Lender may, in its sole
      discretion, without notice to any Guarantor and regardless of the acceptance
      of
      any Collateral for the payment hereof, appropriate (or cause to be appropriated)
      and apply toward payments of Borrowers' Obligations, (i) any indebtedness due
      or
      to become due from Lender to any Guarantor and (ii) any moneys, credits or
      other
      property belonging to any Guarantor at any time held by or coming into the
      possession of Lender or any affiliates of Lender, whether for deposit or
      otherwise.

     

    Each
      Guarantor assumes responsibility for keeping itself informed of the financial
      condition of each Borrower and all other guarantors of all or any of Borrowers'
      Obligations, and of all other circumstances bearing upon the risk of nonpayment
      of Borrowers' Obligations or any part thereof that diligent inquiry might
      reveal, and each Guarantor agrees that Lender shall have no duty to advise
      such
      Guarantor of information known to Lender regarding any of the foregoing. Each
      Guarantor acknowledges familiarity with each Borrower's financial condition
      and
      represents that it has not relied on any statements made, or information
      furnished, by Lender or their agents in obtaining such familiarity. If Lender
      provides any such information to any Guarantor, Lender shall be under no
      obligation to (i) undertake any investigation not a part of its regular business
      routine, (ii) disclose any information which, pursuant to accepted or reasonable
      commercial finance practices, Lender wishes to maintain confidential or (iii)
      make any other or future disclosures of any information to such
      Guarantor.

     

    Notwithstanding
      any contrary provision of this Guaranty, it is intended that neither this
      Guaranty nor any liens or security interests securing this Guaranty constitute
      a
      "Fraudulent Conveyance" (as defined below). Consequently, each Guarantor agrees
      that if this Guaranty or any liens or security interests securing this Guaranty
      would, but for the application of this sentence, constitute a Fraudulent
      Conveyance, this Guaranty and each such lien and security interest shall be
      valid and enforceable only to the maximum extent that would not cause this
      Guaranty or such lien or security interest to constitute a Fraudulent
      Conveyance, and this Guaranty shall automatically be deemed to have been amended
      accordingly at all relevant times. For purposes hereof, a "Fraudulent
      Conveyance"
      means a
      fraudulent conveyance under Section 548 of the Bankruptcy Code or a fraudulent
      conveyance or fraudulent transfer under any applicable fraudulent conveyance
      or
      fraudulent transfer law or similar law of any state or other governmental unit
      as in effect from time to time.

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    Each
      Guarantor waives the right to assert the doctrine of marshaling with respect
      to
      any of the Collateral securing Borrowers' Obligations. Each Guarantor further
      agrees that, to the extent any Borrower makes one or more payments to Lender,
      or
      Lender receives any proceeds of Collateral, which are subsequently invalidated,
      declared to be fraudulent or preferential, set aside or required to be repaid
      to
      such Borrower, its estate, trustee, receiver or any other party under the
      Bankruptcy Code or other law, that portion of Borrowers' Obligations which
      has
      been paid, reduced or satisfied by such payment or proceeds shall be reinstated
      and continued in full force and effect as of the date such initial payment,
      reduction or satisfaction occurred, and this Guaranty shall continue to be
      in
      existence and in full force and effect, irrespective of whether any evidence
      of
      indebtedness or this Guaranty has been surrendered or canceled.

     

    Each
      Guarantor agrees that all payments hereunder shall be made without setoff or
      counterclaims and each Guarantor waives all presentments, demands for
      performance, notices of nonperformance, protests, notices of protest, notices
      of
      dishonor and notices of acceptance of this Guaranty. Each Guarantor further
      waives all notices of the existence, creation or incurring of new or additional
      indebtedness, arising either from additional loans extended to any Borrower
      or
      otherwise, and also waives all notices that the principal amount, or any portion
      thereof, or any interest on any instrument or document evidencing all or any
      part of Borrowers' Obligations is due, notices of any and all proceedings to
      collect from the maker, any endorser or any other guarantor of all or any part
      of Borrowers' Obligations, or from anyone else, and, to the extent permitted
      by
      law, notices of exchange, sale, foreclosure, surrender or other handling of
      any
      Collateral securing Borrowers' Obligations.

     

    No
      delay
      on the part of Lender in the exercise of any right or remedy shall operate
      as a
      waiver thereof, and no single or partial exercise by Lender of any right or
      remedy shall preclude any further exercise thereof except as expressly set
      forth
      in a writing duly signed and delivered on Lender's behalf by an authorized
      officer or agent of Lender; nor shall any modification or waiver of any of
      the
      provisions of this Guaranty be binding upon Lender, except as expressly set
      forth in a writing duly signed and delivered on Lender's behalf by an authorized
      officer or agent of Lender. Lender's failure at any time or times hereafter
      to
      require strict performance by any Borrower or any Guarantor of any of the
      provisions, warranties, terms and conditions contained in any promissory note,
      security agreement, agreement, guaranty, instrument or document now or at any
      time or times hereafter executed by any Borrower or any Guarantor and delivered
      to Lender, shall not waive, affect or diminish any right of Lender at any time
      or times hereafter to demand strict performance thereof, and such right shall
      not be deemed to have been waived by any act or knowledge of Lender, or its
      respective agents, officers or employees, unless such waiver is contained in
      an
      instrument in writing signed by an officer or agent of Lender, and directed
      to
      such Borrower or such Guarantor, as applicable, specifying such waiver. No
      waiver by Lender of any default shall operate as a waiver of any other default
      or the same default on a future occasion, and no action by Lender permitted
      hereunder shall in any way affect or impair Lender's rights or the obligations
      of any Guarantor under this Guaranty. Any determination by a court of competent
      jurisdiction of the amount of any principal or interest owing by any Borrower
      to
      Lender shall be conclusive and binding on each Guarantor irrespective of whether
      such Guarantor was a party to the suit or action in which such determination
      was
      made.

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

     

    Each
      Guarantor hereby represents and warrants that (i) it is in such Guarantor's
      direct interest to assist each Borrower in procuring credit, because each
      Borrower is an affiliate of such Guarantor, furnishes goods or services to
      such
      Guarantor, purchases or acquires goods or services from such Guarantor, and/or
      otherwise has a direct or indirect corporate or business relationship with
      such
      Guarantor, (ii) this Guaranty has been duly and validly authorized,
      executed and delivered and constitutes the valid and binding obligation of
      such
      Guarantor, enforceable in accordance with its terms, and (iii) the
      execution and delivery of this Guaranty does not violate or constitute a default
      under (with or without the giving of notice, the passage of time, or both)
      any
      order, judgment, decree, instrument or agreement to which such Guarantor is
      a
      party or by which it or its assets are affected or bound.

     

    This
      Guaranty shall be binding upon each Guarantor and upon the successors and
      permitted assigns of each Guarantor and shall inure to the benefit of Lender
      and
      its successors and assigns. All references herein to any Borrower shall be
      deemed to include its successors and permitted assigns and all references herein
      to Lender shall be deemed to include its successors and assigns. Each Borrower's
      and each Guarantor's successors and permitted assigns shall include a receiver,
      trustee, custodian of or for such Borrower or such Guarantor or any of their
      respective assets and such Borrower or such Guarantor as debtor-in-possession.
      All references to the singular shall be deemed to include the plural where
      the
      context so requires.

     

    EACH
      GUARANTOR HEREBY CONSENTS AND AGREES THAT THE STATE AND FEDERAL COURTS IN NEW
      YORK COUNTY, NEW YORK SHALL HAVE NONEXCLUSIVE JURISDICTION TO HEAR AND DETERMINE
      ANY CLAIMS OR DISPUTES WITH RESPECT TO THIS GUARANTY AND WAIVES ANY OBJECTION
      WHICH IT MAY HAVE BASED ON IMPROPER VENUE OR FORUM NON CONVENIENS
      TO THE CONDUCT OF ANY PROCEEDING IN ANY SUCH COURT AND CONSENTS THAT ALL SERVICE
      OF PROCESS UPON SUCH GUARANTOR BE MADE BY REGISTERED MAIL OR MESSENGER DIRECTED
      TO SUCH GUARANTOR AT THE ADDRESS SET FORTH BELOW SUCH GUARANTOR'S SIGNATURE
      AND
      THAT SERVICE SO MADE SHALL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT
      THEREOF. EACH GUARANTOR HEREBY AGREES THAT ANY CLAIM OR DISPUTE BROUGHT BY
      SUCH
      GUARANTOR AGAINST LENDER OR ANY MATTER ARISING OUT OF THIS GUARANTY SHALL BE
      BROUGHT EXCLUSIVELY IN THE STATE AND FEDERAL COURTS IN NEW YORK COUNTY, NEW
      YORK. EACH GUARANTOR HEREBY WAIVES, TO THE EXTENT PERMITTED BY LAW, TRIAL BY
      JURY. NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT OF LENDER TO SERVE LEGAL
      PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR AFFECT THE RIGHT OF LENDER
      TO
      BRING ANY ACTION OR PROCEEDING AGAINST ANY GUARANTOR OR ITS PROPERTY IN THE
      COURTS OF ANY OTHER JURISDICTION.

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

     

    THIS
      GUARANTY SHALL BE GOVERNED IN ALL RESPECTS BY THE INTERNAL LAWS OF THE STATE
      OF
      NEW YORK WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF
      LAWS.

     

    Wherever
      possible each provision of this Guaranty shall be interpreted in such manner
      as
      to be effective and valid under applicable law, but if any provision of this
      Guaranty shall be prohibited by or invalid under such law, such provision shall
      be ineffective to the extent of such prohibition or invalidity without
      invalidating the remainder of such provision or the remaining provisions of
      this
      Guaranty.

     

    Each
      Guarantor hereby agrees that this Guaranty shall be deemed a "Loan Document"
      as
      defined in the Loan Agreement.

     

    This
      Guaranty may be executed in any number of counterparts, all of which shall
      constitute one and the same instrument, and any party hereto may execute this
      Guaranty by signing and delivering one or more counterparts.

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, this Guaranty has been duly executed by the undersigned
      Guarantors this 17th day of September, 2007.

     

    
      	 	 	 
	 	APPALACHIAN OIL COMPANY, INC.
	 
 	 
 	 
 
	
            	By  	/s/
              Bryan Chance
	 	
              
Its President

    

     

    
      	 	 	 
	 	APPCO-KY, INC.
	 
 	 
 	 
 
	
            	By  	/s/
              Bryan Chance
	 	
              

              Its
                PresidentCORPORATE
      GUARANTY

     

    
      	
              Borrower:

            	 	
              Appalachian
                Oil Company, a
                Tennessee corporation

               

            
	
              Guarantors
                (and each a Guarantor):

            	 	
              Titan
                Global Holdings, Inc.,
                a
                Utah corporation

               

              Titan
                PCB West, Inc.,
                a
                Delaware corporation

               

              Titan
                PCB East, Inc.,
                a
                Delaware corporation

               

              Oblio
                Telecom, Inc.,
                a
                Delaware corporation

               

              Titan
                Wireless Communications, Inc.,
                a
                Delaware corporation

               

              Start
                Talk Inc.,
                a
                Delaware corporation

               

              Pinless,
                Inc.,
                a
                Texas corporation

            

    

    

    Borrower
      has requested that Greystone
      Business Credit II, L.L.C. as
      agent
("Agent")
      for
      itself and certain lenders ("Lenders")
      provide certain financial accommodations to Borrower pursuant to the terms
      of a
      Loan and Security Agreement among Borrower, Agent and the Lenders parties
      thereto from time to time, dated of even date herewith (as amended from time
      to
      time, the "Loan
      Agreement").
      As
      one of the conditions to providing financing, Agent and Lenders have required
      that each Guarantor guaranty all obligations of Borrower to Agent and
      Lenders.

     

    For
      value
      received and in consideration of any loan, advance or financial accommodation
      of
      any kind whatsoever heretofore, now or hereafter made, given or granted to
      Borrower by any Lender pursuant to the Loan Agreement, each Guarantor, jointly
      and severally, unconditionally guaranties the full and prompt payment when
      due,
      whether at maturity or earlier, by reason of acceleration or otherwise, and
      at
      all times thereafter, of the indebtedness, liabilities and obligations of every
      kind and nature of Borrower to Agent and Lenders (including, without limitation,
      all interest accruing after the filing of a proceeding under the Bankruptcy
      Code
      (as defined in the Loan Agreement) whether or not allowed by the court in such
      proceeding, and all other indebtedness, liabilities and obligations arising
      after the filing of any proceeding under the Bankruptcy Code), howsoever
      created, arising or evidenced, whether direct or indirect, absolute or
      contingent, joint or several, now or hereafter existing, or due or to become
      due, in each case arising under the Loan Agreement or the other Loan Documents
      (as defined in the Loan Agreement), plus all costs and expenses (including,
      without limitation, all court costs and reasonable attorneys' and paralegals'
      fees and expenses) paid or incurred by Agent and Lenders in endeavoring to
      collect all or any part of such indebtedness, liabilities and obligations from,
      or in prosecuting any action against, any Guarantor or any other guarantor
      of
      all or any part of such indebtedness, liabilities and obligations (all such
      indebtedness, liabilities, obligations, costs and expenses being hereinafter
      referred to as "Borrower's
      Obligations").
      All
      sums becoming due under this Guaranty shall bear interest from the due date
      thereof until paid at the highest rate charged with respect to any of Borrower's
      Obligations under the Loan Agreement.

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    Each
      Guarantor agrees that its obligations under this Guaranty are unconditional,
      irrespective of (i) the validity or enforceability of Borrower's Obligations
      or
      any note or other instrument evidencing Borrower's Obligations, (ii) the absence
      of any attempt by any Lender to collect Borrower's Obligations from Borrower
      or
      any other guarantor, (iii) any Lender's waiver or consent with respect to any
      provision of the Loan Documents, (iv) any Lender's failure to perfect or
      maintain its security interests in, or to preserve its rights with respect
      to,
      any of the Collateral (as defined in the Loan Agreement), (v) any Lender's
      election, in any proceeding under Chapter 11 of the Bankruptcy Code, of the
      application of Section 1111(b)(2) of the Bankruptcy Code, (vi) any borrowing
      or
      grant of a security interest by Borrower as debtor-in-possession under Section
      364 of the Bankruptcy Code, (vii) the disallowance, under Section 502 of the
      Bankruptcy Code, of all or any of any Lender's claims for repayment of
      Borrower's Obligations or (viii) any other circumstance which might constitute
      a
      legal or equitable discharge or defense of Borrower or a guarantor.

     

    No
      payment made by or for the account or benefit of any Guarantor (including,
      without limitation, (i) a payment made by Borrower in respect of Borrower's
      Obligations, (ii) a payment made by any other Guarantor under this Guaranty
      or
      by any other person under any other guaranty of Borrower's Obligations or (iii)
      a payment made by means of set off or other application of funds by any Lender)
      shall entitle any Guarantor, by subrogation or otherwise, to any payment by
      Borrower or any
      other
      Guarantor or from
      or
      out of any property of Borrower or any other Guarantor, and no Guarantor shall
      exercise any rights or remedies against Borrower or any other Guarantor or
      any
      property of Borrower or any other Guarantor including, without limitation,
      any
      right of contribution, indemnity or reimbursement by reason of any performance
      by such Guarantor under this Guaranty, all of such rights of subrogation,
      contribution, indemnity and reimbursement being hereby waived by such Guarantor.
      The provisions of this paragraph shall survive the termination of this Guaranty
      or the release or discharge of any Guarantor from liability hereunder. Borrower
      is a third party beneficiary of the provisions of this paragraph.

     

    Each
      Guarantor hereby waives diligence, presentment, demand for payment, filing
      of
      claims with a court in the event of receivership or bankruptcy of Borrower,
      protest or notice with respect to Borrower's Obligations and all demands
      whatsoever, and covenants that this Guaranty will not be discharged, except
      by
      complete and irrevocable payment and performance of the obligations and
      liabilities contained herein. No notice to any party, including any Guarantor,
      shall be required for Lender to make demand hereunder. Such demand shall
      constitute a mature and liquidated claim against such Guarantor. At any time
      after maturity of Borrower's Obligations, whether by acceleration or otherwise,
      Agent may, at its sole election, proceed directly and at once, without notice,
      against any Guarantor to collect and recover the full amount or any portion
      of
      Borrower's Obligations, without first proceeding against Borrower or any other
      person or against any of the Collateral. Agent shall have the exclusive right
      to
      determine the application of payments and credits, if any, from any Guarantor,
      Borrower or any other person, on account of Borrower's Obligations.

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    Agent
      is
      hereby authorized, without notice or demand to any Guarantor and without
      affecting or impairing the liability of any Guarantor hereunder, to from time
      to
      time (i) renew, extend, accelerate or otherwise change the time for payment
      of,
      or other terms relating to, Borrower's Obligations or otherwise modify, amend
      or
      change the terms of any promissory note or other agreement, document or
      instrument now or hereafter executed by Borrower and delivered to Agent and/or
      Lenders; (ii) accept partial payments on Borrower's Obligations; (iii) take
      and
      hold Collateral for the payment of Borrower's Obligations, or for the payment
      of
      this Guaranty, or for the payment of any other guaranties of Borrower's
      Obligations or other liabilities of Borrower, and exchange, enforce, waive
      and
      release any Collateral; (iv) apply Collateral and direct the order or manner
      of
      sale thereof as it may determine in its sole discretion; and (v) settle,
      release, compromise, collect or otherwise liquidate Borrower's Obligations
      and
      any Collateral in any manner.

     

    At
      any
      time after maturity of Borrower's Obligations, Agent may, in its sole
      discretion, without notice to any Guarantor and regardless of the acceptance
      of
      any Collateral for the payment hereof, appropriate (or cause to be appropriated)
      and apply toward payments of Borrower's Obligations, (i) any indebtedness due
      or
      to become due from Agent or any Lender to any Guarantor and (ii) any moneys,
      credits or other property belonging to any Guarantor at any time held by or
      coming into the possession of Agent or any affiliates of Agent, whether for
      deposit or otherwise.

     

    Each
      Guarantor assumes responsibility for keeping itself informed of the financial
      condition of Borrower and all other guarantors of all or any of Borrower's
      Obligations, and of all other circumstances bearing upon the risk of nonpayment
      of Borrower's Obligations or any part thereof that diligent inquiry might
      reveal, and each Guarantor agrees that neither Agent nor any Lender shall have
      any duty to advise such Guarantor of information known to Agent or such Lender
      regarding any of the foregoing. Each Guarantor acknowledges familiarity with
      Borrower's financial condition and represents that it has not relied on any
      statements made, or information furnished, by Agent or any Lender or their
      agents in obtaining such familiarity. If Agent or any Lender provides any such
      information to any Guarantor, Agent and such Lender shall be under no obligation
      to (i) undertake any investigation not a part of its regular business routine,
      (ii) disclose any information which, pursuant to accepted or reasonable
      commercial finance practices, Agent or such Lender wishes to maintain
      confidential or (iii) make any other or future disclosures of any information
      to
      such Guarantor.

     

    Notwithstanding
      any contrary provision of this Guaranty, it is intended that neither this
      Guaranty nor any liens or security interests securing this Guaranty constitute
      a
      "Fraudulent Conveyance" (as defined below). Consequently, each Guarantor agrees
      that if this Guaranty or any liens or security interests securing this Guaranty
      would, but for the application of this sentence, constitute a Fraudulent
      Conveyance, this Guaranty and each such lien and security interest shall be
      valid and enforceable only to the maximum extent that would not cause this
      Guaranty or such lien or security interest to constitute a Fraudulent
      Conveyance, and this Guaranty shall automatically be deemed to have been amended
      accordingly at all relevant times. For purposes hereof, a "Fraudulent
      Conveyance"
      means a
      fraudulent conveyance under Section 548 of the Bankruptcy Code or a fraudulent
      conveyance or fraudulent transfer under any applicable fraudulent conveyance
      or
      fraudulent transfer law or similar law of any state or other governmental unit
      as in effect from time to time.

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    Each
      Guarantor waives the right to assert the doctrine of marshaling with respect
      to
      any of the Collateral securing Borrower's Obligations. Each Guarantor further
      agrees that, to the extent Borrower makes one or more payments to Agent or
      any
      Lender, or Agent or any Lender receives any proceeds of Collateral, which are
      subsequently invalidated, declared to be fraudulent or preferential, set aside
      or required to be repaid to Borrower, its estate, trustee, receiver or any
      other
      party under the Bankruptcy Code or other law, that portion of Borrower's
      Obligations which has been paid, reduced or satisfied by such payment or
      proceeds shall be reinstated and continued in full force and effect as of the
      date such initial payment, reduction or satisfaction occurred, and this Guaranty
      shall continue to be in existence and in full force and effect, irrespective
      of
      whether any evidence of indebtedness or this Guaranty has been surrendered
      or
      canceled.

     

    Each
      Guarantor agrees that all payments hereunder shall be made without setoff or
      counterclaims and each Guarantor waives all presentments, demands for
      performance, notices of nonperformance, protests, notices of protest, notices
      of
      dishonor and notices of acceptance of this Guaranty. Each Guarantor further
      waives all notices of the existence, creation or incurring of new or additional
      indebtedness, arising either from additional loans extended to Borrower or
      otherwise, and also waives all notices that the principal amount, or any portion
      thereof, or any interest on any instrument or document evidencing all or any
      part of Borrower's Obligations is due, notices of any and all proceedings to
      collect from the maker, any endorser or any other guarantor of all or any part
      of Borrower's Obligations, or from anyone else, and, to the extent permitted
      by
      law, notices of exchange, sale, foreclosure, surrender or other handling of
      any
      Collateral securing Borrower's Obligations.

     

    No
      delay
      on the part of Agent or any Lender in the exercise of any right or remedy shall
      operate as a waiver thereof, and no single or partial exercise by Agent or
      any
      Lender of any right or remedy shall preclude any further exercise thereof except
      as expressly set forth in a writing duly signed and delivered on Agent's and
      Required Lenders' behalf by authorized officers or agents of Agent and Required
      Lenders; nor shall any modification or waiver of any of the provisions of this
      Guaranty be binding upon Agent or Lenders, except as expressly set forth in
      a
      writing duly signed and delivered on Agent's and Required Lenders' behalf by
      authorized officers or agents of Agent and Required Lenders. Agent's and
      Lenders' failure at any time or times hereafter to require strict performance
      by
      Borrower or any Guarantor of any of the provisions, warranties, terms and
      conditions contained in any promissory note, security agreement, agreement,
      guaranty, instrument or document now or at any time or times hereafter executed
      by Borrower or any Guarantor and delivered to Agent, shall not waive, affect
      or
      diminish any right of Agent or any Lender at any time or times hereafter to
      demand strict performance thereof, and such right shall not be deemed to have
      been waived by any act or knowledge of Agent or any Lender, or its respective
      agents, officers or employees, unless such waiver is contained in an instrument
      in writing signed by an officer or agent of Agent and Required Lenders, and
      directed to Borrower or such Guarantor, as applicable, specifying such waiver.
      No waiver by Agent of any default shall operate as a waiver of any other default
      or the same default on a future occasion, and no action by Agent or any Lender
      permitted hereunder shall in any way affect or impair Agent's or such Lender's
      rights or the obligations of any Guarantor under this Guaranty. Any
      determination by a court of competent jurisdiction of the amount of any
      principal or interest owing by Borrower to Agent and Lenders shall be conclusive
      and binding on each Guarantor irrespective of whether such Guarantor was a
      party
      to the suit or action in which such determination was made.

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

     

    Each
      Guarantor hereby represents and warrants that (i) it is in such Guarantor's
      direct interest to assist Borrower in procuring credit, because Borrower is
      an
      affiliate of such Guarantor, furnishes goods or services to such Guarantor,
      purchases or acquires goods or services from such Guarantor, and/or otherwise
      has a direct or indirect corporate or business relationship with such Guarantor,
      (ii) this Guaranty has been duly and validly authorized, executed and
      delivered and constitutes the valid and binding obligation of such Guarantor,
      enforceable in accordance with its terms, and (iii) the execution and
      delivery of this Guaranty does not violate or constitute a default under (with
      or without the giving of notice, the passage of time, or both) any order,
      judgment, decree, instrument or agreement to which such Guarantor is a party
      or
      by which it or its assets are affected or bound.

     

    This
      Guaranty shall be binding upon each Guarantor and upon the successors and
      permitted assigns of each Guarantor and shall inure to the benefit of Agent
      and
      Lenders and their successors and assigns. All references herein to Borrower
      shall be deemed to include its successors and permitted assigns and all
      references herein to Agent shall be deemed to include its successors and
      assigns. Borrower's and each Guarantor's successors and permitted assigns shall
      include a receiver, trustee, custodian of or for Borrower or such Guarantor
      or
      any of their respective assets and Borrower or such Guarantor as
      debtor-in-possession. All references to the singular shall be deemed to include
      the plural where the context so requires.

     

    EACH
      GUARANTOR HEREBY CONSENTS AND AGREES THAT THE STATE AND FEDERAL COURTS IN NEW
      YORK COUNTY, NEW YORK SHALL HAVE NONEXCLUSIVE JURISDICTION TO HEAR AND DETERMINE
      ANY CLAIMS OR DISPUTES WITH RESPECT TO THIS GUARANTY AND WAIVES ANY OBJECTION
      WHICH IT MAY HAVE BASED ON IMPROPER VENUE OR FORUM NON CONVENIENS
      TO THE CONDUCT OF ANY PROCEEDING IN ANY SUCH COURT AND CONSENTS THAT ALL SERVICE
      OF PROCESS UPON SUCH GUARANTOR BE MADE BY REGISTERED MAIL OR MESSENGER DIRECTED
      TO SUCH GUARANTOR AT THE ADDRESS SET FORTH BELOW SUCH GUARANTOR'S SIGNATURE
      AND
      THAT SERVICE SO MADE SHALL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT
      THEREOF. EACH GUARANTOR HEREBY AGREES THAT ANY CLAIM OR DISPUTE BROUGHT BY
      SUCH
      GUARANTOR AGAINST AGENT OR ANY LENDER OR ANY MATTER ARISING OUT OF THIS GUARANTY
      SHALL BE BROUGHT EXCLUSIVELY IN THE STATE AND FEDERAL COURTS IN NEW YORK COUNTY,
      NEW YORK. EACH GUARANTOR HEREBY WAIVES, TO THE EXTENT PERMITTED BY LAW, TRIAL
      BY
      JURY. NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT OF AGENT OR ANY LENDER
      TO
      SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR AFFECT THE RIGHT
      OF
      AGENT OR ANY LENDER TO BRING ANY ACTION OR PROCEEDING AGAINST ANY GUARANTOR
      OR
      ITS PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION.

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

     

    THIS
      GUARANTY SHALL BE GOVERNED IN ALL RESPECTS BY THE INTERNAL LAWS OF THE STATE
      OF
      NEW YORK WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF
      LAWS.

     

    Wherever
      possible each provision of this Guaranty shall be interpreted in such manner
      as
      to be effective and valid under applicable law, but if any provision of this
      Guaranty shall be prohibited by or invalid under such law, such provision shall
      be ineffective to the extent of such prohibition or invalidity without
      invalidating the remainder of such provision or the remaining provisions of
      this
      Guaranty.

     

    Each
      Guarantor hereby agrees that this Guaranty shall be deemed a "Loan Document"
      as
      defined in the Loan Agreement.

     

    This
      Guaranty may be executed in any number of counterparts, all of which shall
      constitute one and the same instrument, and any party hereto may execute this
      Guaranty by signing and delivering one or more counterparts.

     

    
      
         

      

      
        -6-

        
          

        

      

       

    

    IN
      WITNESS WHEREOF, this Guaranty has been duly executed by the undersigned
      Guarantors this 17th day of September, 2007.

     

    
      	 	 	 
	 	
              TITAN
                GLOBAL HOLDINGS, INC.

            
	 
 	 
 	 
 
	
            	By  	/s/ Bryan
              Chance
	 	
              

              Its President

            

    

    

      	 	 	 
	 	
              TITAN
                PCB WEST, INC.

            
	 
 	 
 	 
 
	
            	By  	/s/ 
	 	
               

              
                Its

              

            	
              

            
	 	
              

            

    

     

    
      	 	 	 
	 	
              TITAN
                PCB EAST, INC.

            
	 
 	 
 	 
 
	
            	By  	/s/ 
	 	
               

              Its

            	
              

            
	 	
              

            

    

     

    
      	 	 	 
	 	
              OBLIO
                TELECOM, INC.

            
	 
 	 
 	 
 
	
            	By  	/s/ 
	 	
               

              Its

            	
              

            
	 	
              

            

    

     

    
      	 	 	 
	 	
              TITAN
                WIRELESS COMMUNICATIONS, INC.

            
	 
 	 
 	 
 
	
            	By  	/s/ 
	 	
               

              Its

            	
              

            
	 	
              

            

    

     

    
      	 	 	 
	 	
              START
                TALK INC.

            
	 
 	 
 	 
 
	
            	By  	/s/ 
	 	
               

              Its

            	
              

            
	 	
              

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	 	 	 
	 	
              PINLESS,
                INC.

            
	 
 	 
 	 
 
	
            	By  	/s/ 
	 	
               

              Its

            	
              

            
	 	
              

            
	 	
              Address
                for each Guarantor:

              1700
                Jay Ell Drive, Suite 200

              Richardson
                TX 75081

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