Document:

<PAGE>

EXHIBIT 10.2

                        ASSIGNMENT AND PURCHASE AGREEMENT

         This Assignment and Purchase Agreement ("Agreement") is made and
entered into as of June 17, 2005, by and between Brian Kelly and Michael
Reinstein (each a "Seller" and collectively the "Sellers") and USN Corporation,
a Colorado corporation.) ("USN Corp").

                                    RECITALS

         1. Sellers are the only members of Spotlight, LLC, a California limited
liability company (the "Company") which filed its Articles of Organization with
the office of the California Secretary of State on August 5, 2002 ("Articles of
Organization").

         2. Each Seller currently owns a fifty percent (50%) Membership Interest
(as that term is defined in the Operating Agreement) in the Company
(collectively, the "Membership Interests").

         3. The Company has heretofore conducted the business of purchasing
product for the operations of USN Corp. The Company has not, prior to the date
hereof, made any distributions or payments of profit, earnings or salary to the
Members.

         For and in consideration of the covenants, promises and agreements
contained herein and other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

                                    AGREEMENT

                  1. SALE AND PURCHASE OF MEMBERSHIP INTERESTS

         Subject to the terms and conditions in this Agreement, each Seller
hereby sells, assigns, transfers, conveys and delivers to USN Corp, and USN Corp
hereby purchases, each such Seller's Membership Interest.

                  2. SELLERS' REPRESENTATIONS, WARRANTIES, COVENANTS AND
         INDEMNITY

         Each Seller represents, warrants and covenants to USN Corp as follows:

         A. Each such Seller is the owner of his Membership Interest, free and
clear from any liens or encumbrances whatsoever, except those restrictions on
transfer which are set forth in the Operating Agreement, all of which are hereby
waived by each such Seller.

         B. Each such Seller has the full power and authority to execute,
deliver and perform his obligations under this Agreement.

                                       1
<PAGE>

         C. To each such Seller's actual knowledge, there are no lawsuits,
threats of litigation, claims, or other demands affecting or involving such
Seller's Membership Interest arising or accruing before the date of this
Agreement.

         D. Each such Seller agrees to cooperate with USN Corp, and on USN
Corp's reasonable request without additional compensation, to execute all
documents and take all actions as necessary to perfect and implement USN Corp's
full ownership of each such Seller'sMembership Interest.

         E. Each such Seller shall, on a several and not joint and several
basis, indemnify, hold harmless and defend USN Corp, its directors, officers,
attorneys, successors, assigns, partners, members, agents, representatives,
employees and lenders, against and in respect of damages, costs, expenses,
reasonable fees of attorneys and consultants, claims, losses, liens, encumbrance
and other liabilities arising from any breach of such Seller's representations,
warranties or covenants in this Agreement. Notwithstanding anything to the
contrary contained herein, the indemnity and covenants contained in this
Paragraph shall survive the execution and delivery of this Agreement.

                  3. USN CORP'S REPRESENTATIONS, WARRANTIES, COVENANTS AND
         INDEMNITY

         A. USN Corp represents and warrants to the Sellers: (i) that it has
full corporate power and authority to enter into this Agreement and to perform
its obligations hereunder, (ii) that the execution and delivery of this
Agreement by USN Corp has been authorized by all necessary corporate action on
behalf of USN Corp, (iii) that this Agreement has been duly executed and
delivered by USN Corp, (iv) that this Agreement is a valid and binding agreement
of USN Corp, enforceable against it in accordance with its terms, and (v) ; USN
Corp has (a) received copies of the Articles of Organization and Operating
Agreement, and (b) reviewed, inspected and approved the assets and liabilities
of the Company presented by Seller to USN Corp.

         B. USN Corp shall indemnify, hold harmless and defend each of the
Sellers (with counsel selected and paid for solely by USN Corp), its directors,
officers, attorneys, successors, assigns, partners, members, agents,
representatives, employees and lenders, against and in respect of any and all
damages, costs, expenses, reasonable fees of attorneys and consultants, claims,
losses, liens, encumbrance and other liabilities arising from any (i) breach of
USN Corp's representations, warranties or covenants in this Agreement that
survive the Closing and (ii) failure of USN Corp to pay, satisfy, discharge or
otherwise resolve any liabilities of the Company. Notwithstanding anything to
the contrary contained herein, the indemnity and covenants contained in this
Paragraph shall survive the execution and delivery of this Agreement.

                  4. NATURE OF MEMBERSHIP INTERESTS

         A. Other than as set forth herein, no person acting on behalf of any
Seller is authorized to make, and by execution hereof, USN Corp acknowledges
that no person has made, any representation, agreement, statement, warranty,

                                       2
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guarantee or promise regarding the Membership Interests except as may be
expressly set forth in this Agreement. No representation, warranty, agreement,
statement, guarantee or promise, if any, made by any person acting on behalf of
any Seller which is not contained in this Agreement will be valid or binding on
any Seller.

         B. USN CORP ACKNOWLEDGES AND AGREES THAT EXCEPT AS EXPRESSLY PROVIDED
IN THIS AGREEMENT, THE SELLERS HAVE NOT MADE, DO NOT MAKE AND SPECIFICALLY
NEGATE AND DISCLAIM ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS,
AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR
IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, CONCERNING OR WITH
RESPECT TO (I) VALUE OF THE MEMBERSHIP INTERESTS; (II) THE INCOME TO BE DERIVED
FROM THE COMPANY OR ANY EQUITY INTEREST THEREIN.

         USN CORP ACKNOWLEDGES THAT (i) THIS SECTION 5.B HAS BEEN READ AND FULLY
UNDERSTOOD, (ii) USN CORP HAS HAD THE CHANCE TO ASK QUESTIONS OF ITS COUNSEL
ABOUT ITS MEANING AND SIGNIFICANCE, AND (iii) USN CORP HAS ACCEPTED AND AGREED
TO THE TERMS SET FORTH IN THIS SECTION 4.B.

                  5. TREATMENT OF ASSETS AND LIABILITIES

         USN Corp hereby agrees and acknowledges that all of the assets and
liabilities of the Company will, by operation of the transfer of the Membership
Interests to USN Corp, be indirectly the assets and liabilities of USN Corp and
that USN Corp will ultimately be liable for any such liabilities.

                  6. GENERAL PROVISIONS

         6.1 EXPENSES. All fees, costs and expenses incurred in connection with
this Agreement and the transactions contemplated hereby shall be paid by the
party incurring such fees, costs or expenses.

         6.2 ARBITRATION. Any controversy, claim or dispute arising out of or in
any way relating to this Agreement or the alleged breach thereof, shall be
determined by final and binding arbitration administered by JAMS in Los Angeles,
California in accordance with the JAMS Arbitration Rules and Procedures (the
"RULES") which are in effect at the time of the arbitration or the demand
therefor. In the event of such an arbitration proceeding, the parties shall
select a mutually acceptable neutral arbitrator from among the JAMS panel of
arbitrators. In the event the parties cannot agree on an arbitrator, the
Administrator of JAMS shall appoint an arbitrator. California Code of Civil

                                       3
<PAGE>

Procedure ss. 1283.05, which provides for certain discovery rights, shall apply
to any such arbitration, and said code section is also hereby incorporated by
reference. In reaching a decision, the arbitrator shall have no authority to
change, extend, modify or suspend any of the terms of this Agreement. The
arbitration shall be commenced and heard in Los Angeles, California. The
arbitrator(s) shall apply the substantive law (and the law of remedies, if
applicable) of California or federal law, or both, as applicable to the claim(s)
asserted, and the arbitrator is without jurisdiction to apply any different
substantive law. The arbitrator shall render an award and a written, reasoned
opinion in support thereof, stating all findings of fact and conclusions of law.
Judgment on the award may be entered in any court of competent jurisdiction,
even if a party who received notice under the Rules fails to appear at the
arbitration hearing(s). The parties may seek, from a court of competent
jurisdiction, provisional remedies or injunctive relief in support of their
respective rights and remedies hereunder without waiving any right to
arbitration. However, the merits of any action that involves such provisional
remedies or injunctive relief shall be determined by arbitration under this
Section 6.2.

         6.3 FURTHER ASSURANCES. If at any time after the closing of the
transactions contemplated hereby any further action is reasonably necessary or
desirable to carry out the purposes of this Agreement, then promptly upon the
request of the other party, Sellers or USN Corp, as the case may be, shall take
such action (including, but not limited to, the execution of additional
documents and instruments).

         6.4 AMENDMENTS. No amendment to this Agreement shall be effective
unless it shall be in writing and signed by the parties hereto.

         6.5 NOTICES. All notices or other communications required or permitted
to be given hereunder shall be in writing and shall be delivered by hand or
sent, postage prepaid, by registered or certified mail, and shall be deemed
given when so delivered, as follows:

         (i)      IF TO USN CORP:

                  USN CORPORATION
                  2121 Avenue of the Stars
                  Suite 2910
                  Los Angeles, California 90067

         (ii)     IF TO SELLERS:

         6.6 INTERPRETATION; EXHIBITS AND SCHEDULES. The headings contained in
this Agreement and in any exhibit attached hereto are for reference purposes
only and shall not affect in any way the meaning or interpretation of this
Agreement.

                                       4
<PAGE>

         6.7 COUNTERPARTS. This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement, and
shall become effective when one or more such counterparts have been signed by
each of the parties and delivered to the other parties.

         6.8 ENTIRE AGREEMENT. This Agreement, together with all exhibits and
schedules attached hereto, contains the entire agreement and understanding
between the parties hereto with respect to the subject matter hereof and
supersede all prior oral and written agreements and understandings relating to
such subject matter.

         6.9 SEVERABILITY. If any provision of this Agreement or the application
of any such provision to any person or circumstance shall be held invalid,
illegal or unenforceable in any respect by a court of competent jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other
provision hereof.

         6.10 GOVERNING LAW. This Agreement shall be governed by and construed
in accordance with the internal laws of the State of California applicable to
agreements made and to be performed entirely within such state, without regard
to the conflicts of law principles of such state.

         6.11 CONSTRUCTION. Each party has had a full and complete opportunity
to review this Agreement, and make suggestions or changes and seek legal advice.
Accordingly, each party understands that this Agreement is deemed to have been
drafted jointly by the parties and agrees that the common-law principles of
construing ambiguities against the drafter shall have no application hereto. It
should be construed fairly and not in favor of or against one party as the
drafter hereof.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

                                            SELLERS:

                                            /S/ BRIAN KELLY
                                            ----------------------

                                            /S/ MICHAEL REINSTEIN
                                            ----------------------

                                            USN CORPORATION:

                                            By: /S/ TERRY WASHBURN
                                                -------------------

SPOTLIGHT SPA.doc

                                       5<PAGE>

EXHIBIT 10.3

                            ASSET PURCHASE AGREEMENT

                                     BETWEEN

                                 USN CORPORATION
                         (F/K/A PREMIER CONCEPTS, INC.)

                                       and

                               LGS HOLDINGS, INC.

                            Dated as of June 17, 2005

                                       1
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                            ASSET PURCHASE AGREEMENT

         ASSET PURCHASE AGREEMENT ("AGREEMENT") dated as of June 17, 2005, by
and between USN Corporation (formerly known as Premier Concepts, Inc.), a
Colorado Corporation ("USN CORP"), and LGS Holdings, Inc., a California
Corporation ("BUYER").

                                    RECITALS
                                    --------

         USN Corp is engaged in, among other things, the businesses of (i)
selling fashion jewelry at 14 retail outlets (the "Stores"), and following the
acquisition by USN Corp of the membership interests (the "Membership Interests")
of Spotlight, LLC, a California limited liability company ("Spotlight"),the
sourcing of fine jewelry for sale on USN Television Network (the "BUSINESS").
USN Corp desires to sell to Buyer certain assets associated with the Business,
and Buyer desires to purchase such assets. USN Corp further desires to assign to
Buyer certain liabilities associated with the Business, and Buyer desires to
assume such liabilities.

                                    AGREEMENT
                                    ---------

         In consideration of the mutual covenants and upon and subject to the
terms and conditions hereinafter set forth, the parties hereto agree as follows:

                                    ARTICLE I

                                PURCHASE AND SALE

         1.1 SALE AND TRANSFER OF THE ASSETS. In consideration of the assumption
by Buyer of liabilities as contemplated by Section 1.3, USN Corp agrees to sell,
convey, transfer, assign, quitclaim and deliver to Buyer on the date hereof (the
"EFFECTIVE DATE") all of its right, title and interest in and to the assets
specifically set forth on Exhibit 1, as well as the following assets of USN
Corp, in each case to the extent specifically and solely used by USN Corp in its
operation of the Business (collectively, the "ASSETS"):

                  (a) all of the computer software licenses, including but not
limited to the Retail Pro and Great Plains Accounting systems;

                  (b) all leases for real property and additional vendor and
employee contracts listed on SCHEDULE 1.1(a) (collectively, the "ASSIGNED
CONTRACTS");

                  (c) any intellectual property including but not limited to the
"Impostors"; "Elegant Pretenders" and "Joli-Joli" trademarks, logos, web
addresses; (including WWW.IMPOSTORS.COM and www.premierjewelry.com), signage,
stationary, described on SCHEDULE 1.1(b);

                  (d) any inventory, fixtures, and computers;

                  (e) the Membership Interests in Spotlight; and

                  (f) all goodwill appurtenant to the foregoing Assets.

                                       2
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         1.2      Additional Consideration; Issuance of Shares.

         A. As additional consideration for the assumption by Buyer of
liabilities as contemplated by Section 1.3, USN Corp agrees to issue to the
Buyer One Million Three Hundred Sixty Eight Four Hundred Twenty Two (1,368,422)
shares (the "Shares") of the common stock, $.01 par value per share, of USN
Corp.

         B. The Buyer acknowledges that USN Corp is issuing the Shares in a
transaction not registered under the Securities Act of 1933, as amended (the
"Securities Act"). Buyer further understands that, in addition to any other
legends required by applicable state securities laws, a legend will be placed on
any certificate or certificates representing the Shares substantially to the
following effect:

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE
         SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED OR
         OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THAT ACT AND UNDER
         APPLICABLE STATE SECURITIES LAWS OR USN CORPORATION (THE "COMPANY")
         SHALL HAVE RECEIVED AN OPINION OF ITS COUNSEL THAT REGISTRATION OF SUCH
         SECURITIES UNDER THAT ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE
         SECURITIES LAWS IS NOT REQUIRED.

         C. In connection with the issuance of the Shares to the Buyer, USN Corp
and the Buyer agree to enter into a Registration Rights Agreement substantially
in the form set forth as Exhibit __ attached hereto.

         1.3 Assumption of Liabilities. In consideration of the transfer by USN
Corp to Buyer of the Assets as contemplated by Section 1.1 and the issuance by
USN Corp to Buyer of the Shares as contemplated by Section 1.3, , Buyer hereby
assumes, undertakes and agrees to satisfy, pay, discharge and perform when due
each and all of the liabilities of the Business set forth on EXHIBIT 2.
(collectively, the "ASSUMED LIABILITIES").

         1.4 Excluded Assets and Liabilities. Buyer expressly understands and
agrees that any assets and properties of USN Corp (or any of its direct or
indirect subsidiaries) not set forth on Exhibit 1 HERETO OR SECTION 1.1 HEREOF
(collectively, the "EXCLUDED ASSETS") shall be excluded from the Assets and
shall remain the separate property of USN Corp. Buyer does not assume, nor shall
it at any time hereafter become liable for any liabilities of USN Corp (or any
of its direct or indirect subsidiaries) other than the Assumed Liabilities
(collectively, the "EXCLUDED LIABILITIES").

         1.5 SALE WITHOUT REPRESENTATIONS. The parties agree that, other than as
set forth in Article II hereof, USN Corp is making no representation or warranty
concerning the Assets, the Liabilities or the Business, including
representations and or warranties as to the quality, condition, merchantability,
salability, obsolescence, working order or fitness for a particular purpose
thereof. The Assets are sold to Buyer "as is and where is."

                                       3
<PAGE>

                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

         2.1 REPRESENTATIONS AND WARRANTIES OF USN CORP. The Company represents
and warrants to Buyer AS OF THE EFFECTIVE DATE AND AS OF THE CLOSING as follows:

                  (a) ORGANIZATION. USN Corp is a corporation duly incorporated,
         validly existing and in good standing under the laws of the State of
         Colorado. USN Corp has all requisite corporate power and authority to
         own, lease and operate its properties and to carry on its business. USN
         Corp is duly qualified and in good standing as a foreign corporation in
         each jurisdiction where its ownership of property or operation of its
         business requires qualification, except where the failure to be
         qualified would not have a material adverse effect on USN Corp.

                  (b) AUTHORITY. USN Corp has full power and lawful authority to
         execute and deliver this Agreement and to consummate and perform the
         transactions contemplated thereby. The Agreement constitutes (or shall,
         upon execution, constitute) a valid and legally binding obligation upon
         USN Corp, enforceable in accordance with its terms. Neither the
         execution and delivery of the Agreement by USN Corp, nor the
         consummation and performance of the transactions contemplated thereby,
         conflicts with, requires the consent, waiver or approval of, results in
         a breach of or default under, or gives to others any interest or right
         of termination, cancellation or acceleration in or with respect to, any
         material agreement by which USN Corp is a party or by which USN Corp or
         any of its material properties or assets are bound or affected.

         2.2 REPRESENTATIONS AND WARRANTIES OF BUYER. The Buyer represents and
warrants to USN Corp AS OF THE EFFECTIVE DATE as follows:

                  (a) ORGANIZATION. The Buyer is a corporation duly
         incorporated, validly existing and in good standing under the laws of
         the State of Colorado. the Buyer has all requisite corporate power and
         authority to own, lease and operate its properties and to carry on its
         business. The Buyer is duly qualified and in good standing as a foreign
         corporation in each jurisdiction where its ownership of property or
         operation of its business requires qualification, except where the
         failure to be qualified would not have a material adverse effect on the
         Buyer.

                  (b) AUTHORITY. The Buyer has full power and lawful authority
         to execute and deliver this Agreement and to consummate and perform the
         transactions contemplated thereby. The Agreement constitutes (or shall,
         upon execution, constitute) a valid and legally binding obligation upon
         the Buyer, enforceable in accordance with its terms. Neither the
         execution and delivery of the Agreement by the Buyer, nor the
         consummation and performance of the transactions contemplated thereby,
         conflicts with, requires the consent, waiver or approval of, results in
         a breach of or default under, or gives to others any interest or right
         of termination, cancellation or acceleration in or with respect to, any
         material agreement by which the Buyer is a party or by which the Buyer
         or any of its material properties or assets are bound or affected.

                                       4
<PAGE>

                  (c) ACCESS TO INFORMATION. Buyer has been provided an
         opportunity to ask questions of, and Buyer has received answers thereto
         satisfactory to Buyer from, USN Corp and its representatives regarding
         matters pertaining to this investment, and Buyer has obtained all
         additional information requested by Buyer from USN Corp and its
         representatives.

                  (d) ABILITY TO BEAR ECONOMIC RISKS. Buyer has such knowledge
         and experience in financial affairs that Buyer is capable of evaluating
         the merits and risks of an investment in the Shares. Buyer has not
         relied in connection with this investment upon the identity of or
         advice from USN Corp or any other investor in USN Corp or upon any
         representations, warranties or agreements other than those set forth in
         this Agreement. Buyer's financial situation is such that Buyer can
         afford to bear the economic risk of holding the Shares for an
         indefinite period of time, and Buyer can afford to suffer the complete
         loss of Buyer's investment in the Shares.

                  (e) INVESTMENT INTENT. Buyer is subscribing for the Shares
         pursuant to this Agreement for Buyer's own account and not with a view
         to or for sale in connection with any distribution of all or any part
         of the Shares or Buyer's interest in any of the Shares. Buyer hereby
         agrees that Buyer will not, directly or indirectly, transfer, offer,
         sell, pledge, hypothecate or otherwise dispose of all or any part of
         the Shares or Buyer's interest in any of the Shares (or solicit any
         offers to buy, purchase or otherwise acquire or take a pledge of all or
         any part thereof) except in a manner that does not violate the
         registration or any other applicable provisions of the Securities Act
         (or any other applicable federal securities laws) or any applicable
         state securities laws. Buyer understands that Buyer must bear the
         economic risk of an investment in the Shares for an indefinite period
         of time because, among other reasons, the offering and sale of the
         Shares have not been registered under the Securities Act, and
         therefore, the Shares cannot be sold unless they are subsequently
         registered under the Securities Act or an exemption from such
         registration is available.

                  (f) Accreditation. Buyer qualifies as an "accredited investor"
         (as such term is defined in Rule 501 of Regulation D promulgated under
         the Securities Act)

                                   ARTICLE III

                                 INDEMNIFICATION

         3.1 Indemnification by USN Corp. USN Corp shall indemnify, hold
harmless and defend Buyer (with counsel selected and paid for solely by USN
Corp), its directors, officers, attorneys, successors, assigns, partners,
members, agents, representatives, employees and lenders, against and in respect
of any and all damages, costs, expenses, reasonable fees of attorneys and
consultants, claims, losses, liens, encumbrance and other liabilities arising
from any (i) breach of USN Corp's representations, warranties or covenants in
this Agreement that survive the Closing and (ii) failure of USN Corp to pay,
satisfy, discharge or otherwise resolve any of the Excluded Liabilities.
Notwithstanding anything to the contrary contained herein, the indemnity and
covenants contained in this Paragraph shall survive the execution and delivery
of this Agreement.

                                       5
<PAGE>

         3.2 Indemnification by Buyer. Buyer Corp shall indemnify, hold harmless
and defend USN Corp (with counsel selected and paid for solely by Buyer), its
directors, officers, attorneys, successors, assigns, partners, members, agents,
representatives, employees and lenders, against and in respect of any and all
damages, costs, expenses, reasonable fees of attorneys and consultants, claims,
losses, liens, encumbrance and other liabilities arising from any (i) breach of
Buyer's representations, warranties or covenants in this Agreement that survive
the Closing and (ii) failure of Buyer to pay, satisfy, discharge or otherwise
resolve any of the Assumed Liabilities. Notwithstanding anything to the contrary
contained herein, the indemnity and covenants contained in this Paragraph shall
survive the execution and delivery of this Agreement.

                                   ARTICLE IV

                               GENERAL PROVISIONS

         4.1 EXPENSES. All fees, costs and expenses incurred in connection with
this Agreement and the transactions contemplated hereby shall be paid by the
party incurring such fees, costs or expenses.

         4.2 ARBITRATION. Any controversy, claim or dispute arising out of or in
any way relating to this Agreement or the alleged breach thereof, shall be
determined by final and binding arbitration administered by JAMS in Los Angeles,
California in accordance with the JAMS Arbitration Rules and Procedures (the
"RULES") which are in effect at the time of the arbitration or the demand
therefor. In the event of such an arbitration proceeding, the parties shall
select a mutually acceptable neutral arbitrator from among the JAMS panel of
arbitrators. In the event the parties cannot agree on an arbitrator, the
Administrator of JAMS shall appoint an arbitrator. California Code of Civil
Procedure ss. 1283.05, which provides for certain discovery rights, shall apply
to any such arbitration, and said code section is also hereby incorporated by
reference. In reaching a decision, the arbitrator shall have no authority to
change, extend, modify or suspend any of the terms of this Agreement. The
arbitration shall be commenced and heard in Los Angeles, California. The
arbitrator(s) shall apply the substantive law (and the law of remedies, if
applicable) of California or federal law, or both, as applicable to the claim(s)
asserted, and the arbitrator is without jurisdiction to apply any different
substantive law. The arbitrator shall render an award and a written, reasoned
opinion in support thereof, stating all findings of fact and conclusions of law.
Judgment on the award may be entered in any court of competent jurisdiction,
even if a party who received notice under the Rules fails to appear at the
arbitration hearing(s). The parties may seek, from a court of competent
jurisdiction, provisional remedies or injunctive relief in support of their
respective rights and remedies hereunder without waiving any right to
arbitration. However, the merits of any action that involves such provisional
remedies or injunctive relief shall be determined by arbitration under this
Section 4.2.

                                       6
<PAGE>

         4.3 FURTHER ASSURANCES. If at any time after the Effective Date any
further action is reasonably necessary or desirable to carry out the purposes of
this Agreement, then promptly upon the request of the other party, the Buyer or
Buyer, as the case may be, shall take such action (including, but not limited
to, the execution of additional documents and instruments).

         4.4 AMENDMENTS. No amendment to this Agreement shall be effective
unless it shall be in writing and signed by the parties hereto.

         4.5 NOTICES. All notices or other communications required or permitted
to be given hereunder shall be in writing and shall be delivered by hand or
sent, postage prepaid, by registered or certified mail, and shall be deemed
given when so delivered, as follows:

                  (i)  IF TO BUYER:

                  (ii) IF TO THE BUYER:

                       USN CORPORATION
                       2121 Avenue of the Stars
                       Suite 2910
                       Los Angeles, California 90067

         4.6 INTERPRETATION; EXHIBITS AND SCHEDULES. The headings contained in
this Agreement and in any exhibit attached hereto are for reference purposes
only and shall not affect in any way the meaning or interpretation of this
Agreement.

         4.7 COUNTERPARTS. This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement, and
shall become effective when one or more such counterparts have been signed by
each of the parties and delivered to the other parties.

         4.8 ENTIRE AGREEMENT. This Agreement, together with all exhibits and
schedules attached hereto, contains the entire agreement and understanding
between the parties hereto with respect to the subject matter hereof and
supersede all prior oral and written agreements and understandings relating to
such subject matter.

         4.9 SEVERABILITY. If any provision of this Agreement or the application
of any such provision to any person or circumstance shall be held invalid,
illegal or unenforceable in any respect by a court of competent jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other
provision hereof.

         4.10 GOVERNING LAW. This Agreement shall be governed by and construed
in accordance with the internal laws of the State of California applicable to
agreements made and to be performed entirely within such state, without regard
to the conflicts of law principles of such state.

         4.11 CONSTRUCTION. Each party has had a full and complete opportunity
to review this Agreement, and make suggestions or changes and seek legal advice.
Accordingly, each party understands that this Agreement is deemed to have been
drafted jointly by the parties and agrees that the common-law principles of
construing ambiguities against the drafter shall have no application hereto. It
should be construed fairly and not in favor of or against one party as the
drafter hereof.

                            [SIGNATURE PAGE FOLLOWS]

                                       7
<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Asset Purchase
Agreement to be duly executed as of the date first written above.

                                         SELLER:
                                         -------

                                         USN Corporation (f/k/a Premier
                                         Concepts, Inc.), a Colorado Corporation

                                         By: /S/ TERRY WASHBURN
                                             --------------------------
                                         Name:  Terry Washburn
                                         Title: Chief Executive Officer

                                         BUYER:
                                         ------

                                         By: /S/ EDWARD GUREVICH
                                             --------------------------
                                         Name:  Edward Gurevich
                                         Title: CEO

                                       8

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