Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Magenta Media (US) Inc. - Exhibit 10.7

EXHIBIT 10.7 

DEBT SETTLEMENT AGREEMENT 

THIS AGREEMENT is dated for reference July
20th, 2005 

BETWEEN: 

MAGENTA NEW MEDIA LTD with
company number 5047518 being a company duly incorporated pursuant to
the laws of England and having an office at Suite 5.15, 130 Shaftesbury Avenue,
London, England W1D 5EU 

(the “Company”) 

AND: 

ABS GLOBAL CAPITAL INC. a
company duly incorporated pursuant to the laws of Seychelles and having a
registered address at 306 Victoria House, Victoria, Mahe, Seychelles 

(the “Creditor”) 

WHEREAS: 

	A. 	
      Pursuant to a Loan Agreement between the Company and the
      Creditor made as of 4th October 2003, and a Debenture between
      the Company and the Creditor as of 4th October 2004, the
      Company is indebted to the Creditor in the amount of ₤103,280.00 as of the
      date hereof (the "Indebtedness"), as more particularly set out in
      Schedule "A" hereto, and the Creditor has agreed to settle the
      Indebtedness;

	 	 
	B. 	
      The Company has no immediate source of funds available to
      settle the Indebtedness in cash;

	 	 
	C. 	
      The Company and the Creditor has no immediate source of
      funds available to settle the indebtedness in cash;

	 	 
	D. 	
      The Company and the Creditor have agreed that the
      Indebtedness will be satisfied in full by the issuance of 1,075,000
      Ordinary A shares of the Company (the "Shares") to the Creditor,
      such Shares to be issued at a deemed value of ₤0.0960 per
  Share;

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the premises and of the covenants and agreements set out
herein, the parties hereto covenant and agree as follows: 

ACKNOWLEDGEMENT OF INDEBTEDNESS AND SHARE CAPITAL

	1.1.1 	
      The Company and the Creditor acknowledge and agree that
      the total amount that the Company is indebted to the Creditor is
      ₤103,280.00 as more particularly set out in Schedule "A" hereto, and the
      Creditor agrees to settle the debt of ₤103,280.00;

	 	 
	1.1.2 	
      The Company has an issued share capital consisting of
      755,000 Ordinary A shares and 245,000 Ordinary B shares and no other
      person has a right, obligation or entitlement to be issued shares in the
      capital of the Company.

ALLOTMENT AND ISSUANCE OF SHARES 

	2.1 	
      The Company agrees to issue the Shares as fully paid and
      non-assessable Ordinary A shares of the Company and the Creditor agrees to
      accept the Shares in full and final satisfaction of the
    Indebtedness.

- 2 - 

RELEASE 

	2.2 	
      The Creditor hereby agrees that upon delivery of the
      Shares by the Company in accordance with the provisions of this Agreement
      the Indebtedness will be fully satisfied and the Creditor will remise,
      release and forever discharge the Company, its successors and assigns, and
      its directors, officers and employees from all of its obligations relating
      to the Indebtedness.

RESTRICTIONS ON DISPOSITION 

	3.1 	
      The Creditor acknowledges that the Shares are shares in a
      private company and such Shares are subject to restrictions on disposition
      imposed by the Articles of the Company and the Companies Act of England
      & Wales 1985 to 1989 which may result in the Creditor being unable to
      sell or otherwise dispose of its Shares.

INDEPENDENT LEGAL ADVICE 

	5.1 	
      The Creditor acknowledges that the Company has given it
      adequate time to review this Agreement and to seek and obtain independent
      legal advice with respect to this Agreement. The Creditor represents to
      the Company that it is satisfied as to all the terms and conditions
      contained in this Agreement.

GENERAL PROVISIONS 

	6.1. 	
      Time shall be of the essence of this Agreement.

	 	 
	6.2. 	
      The parties will execute and deliver all such further
      documents and instruments and do all such further acts and things as may
      be required to carry out the full intent and meaning of this Agreement and
      to effect the transactions contemplated hereby.

	 	 
	6.3. 	
      The provisions herein contained constitute the entire
      agreement between the parties and supersede all previous understandings,
      communications, representations and agreement, whether written or verbal,
      between the parties with respect to the subject matter of this
      Agreement.

	 	 
	6.4. 	
      This Agreement will be governed by and construed in
      accordance with the laws of England & Wales.

	 	 
	6.5. 	
      In this Agreement, words imparting the singular only
      shall include the plural and vice versa, words imparting the masculine
      gender shall include the feminine and neuter genders and words imparting
      persons shall include all firms and corporations and vice versa.

	 	 
	6.6. 	
      Any provision hereof that is held to be inoperative,
      unenforceable or invalid in any jurisdiction shall be severable from the
      remaining provisions which shall continue to be valid and enforceable to
      the fullest extent permitted by law.

	 	 
	6.7. 	
      No failure or delay on the part of any party hereto in
      exercising any right, power or remedy provided herein may be, or may be
      deemed to be, a waiver thereof; nor shall any single or partial exercise
      of any right, power or remedy preclude any other or further exercise of
      such right, power or remedy or other right, power or remedy.

	 	 
	6.8. 	
      This Agreement may not be amended or modified in any
      respect except by written instrument signed by all the parties
    hereto.

	 	 
	6.9. 	
      This Agreement shall be binding upon, and shall enure to
      the benefit of each of the parties hereto and their respective successors
      and permitted assigns.

	 	 
	6.10. 	
      This Agreement may be signed in counterparts (including
      counterparts by telecopier) and all counterparts taken together shall be
      deemed to constitute one and the same
instrument.

- 3 - 

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

MAGENTA NEW MEDIA LIMITED 

per: /s/ Nathan Amery
Authorized Signatory 

ABS GLOBAL CAPITAL INC. 

per: /s/ Laura Mouck 
For EQUITY MANAGEMENT
INC.
Authorized Signatory

- 4 - 

SCHEDULE "A" 

Indebtedness of Magenta New Media Limited to
ABS Global
Capital Inc. 

	NOTE: 	
      FOR THE PURPOSES OF THE ANNEXED DEBT SETTLEMENT
      AGREEMENT, ABS GLOBAL CAPITAL INC. HAS AGREED TO ACCEPT 1,075,000 ORDINARY
      A SHARES IN THE CAPITAL OF MAGENTA NEW MEDIA LIMITED IN FULL AND FINAL
      SETTLEMENT OF ALL OF THE £103,280 DEBT. THE SHARES ARE ISSUABLE AT A
      DEEMED PRICE OF ₤ 0.0960 PER SHARE. 

	 	SCHEDULE OF DEBT: 	 	  	 
	 	EXPENSES PAID - 		£ 	 
	 	Marketing 	 	31,932 	 
	 	Salaries and consultancy 	 	48,263 	 
	 	Rent 	 	7,000 	 
	 	Travel 	 	303 	 
	 	Printing, stationery and telephone 	 	264 	 
	 	Miscellaneous 	 	1,647 	 
	 	Professional fees 	 	8,750 	 
	 	I T 	 	3,484 	 
	 	Development costs 	 	8,151 	 
	 	Bank charges and interest 	 	36 	 
	 	  	 	109,830 	 
	 	  	 	  	 
	 	Less: Consideration paid for Creditor’s 655,000 	 	  	 
	 	Class A shares 	 	( 6,550	) 
	 	  	 	  	 
	 	  	£	103,280Filed by Automated Filing Services Inc. (604) 609-0244 - Magenta Media (US) Inc. - Exhibit 10.8

EXHIBIT 10.8 

SHARE EXCHANGE AGREEMENT 

THIS AGREEMENT made as of the 20th day of August, 2005
(the "Effective Date"), 

AMONG: 

HASOX INC., a company
incorporated under the laws of State of Nevada and having an address at 12255
Alta Sierra Drive, Grass Valley, California 95949 ("Purchaser") 

AND: 

THE SHAREHOLDERS OF THE COMPANY
SET OUT IN SCHEDULE “A” 

(individually a "Vendor" and
collectively the "Vendors") 

AND: 

MAGENTA NEW MEDIA LTD.
company number 5047518 being a company duly incorporated pursuant to
the laws of England and having an office at Suite 5.15, 130 Shaftesbury Avenue,
London, England W1D 5EU 

("Company") 

WHEREAS: 

	A. 	
      the Vendors are the legal and beneficial owners of all of
      the issued and outstanding shares in the capital of the Company;

	 	 
	B. 	
      the Company is in the business of exploiting licensed
      technology relating to a software platform which provides for “Wireless
      Guest Entertainment” that allows hoteliers to increase revenue and guest
      satisfaction by providing bespoke wireless entertainment and services
      packages to luxury hotels; and

	 	 
	C. 	
      the Vendors have agreed to sell the Company Shares to the
      Purchaser and the Purchaser has agreed to purchase the Company Shares from
      the Vendors, upon and subject to the terms and conditions set forth in
      this Agreement;

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the covenants and agreements herein contained (and other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged), the parties hereto do covenant and agree each with the other as
follows: 

	1. 	
      INTERPRETATION

	 	 
	1.1 	
      Defined terms - The following terms have
      the following meanings in this Agreement:

- 2 -

	 	(a) 	
      “Company Financial Statements” means the financial
      statements of the Company for the period ended 31st July 2005,
      copies of which are attached hereto as Schedule B to this
  Agreement;

	 	 	 
	 	(b) 	
      "Company Shares" means all of the issued and
      outstanding shares in the capital of the Company;

	 	 	 
	 	(c) 	
      “Applicable Laws” means all applicable rules,
      policies, notices, orders and legislation of any kind whatsoever of any
      governmental authority or regulatory body having jurisdiction over the
      transactions contemplated hereby;

	 	 	 
	 	(d) 	
      “Purchaser Shares” means the 12,500,000 common
      shares in the capital of the Purchaser to be issued to the Vendors as the
      Purchase Price;

	 	 	 
	 	(e) 	
      “Closing” means the completion of the purchase and
      sale of the Company Shares as contemplated in this Agreement;

	 	 	 
	 	(f) 	
      “Closing Date” means the date of the Closing as
      mutually agree upon by the parties hereto;

	 	 	 
	 	(g) 	
      “Purchase Price” means the Purchaser Shares to be
      issued to the Vendors in consideration for the Company Shares;

	 	 	 
	 	(h) 	
      “Time of Closing” means 09.00 GMT on the Closing
      Date;

	 	 	 
	 	(i) 	
      “US Securities Act” means the United States
      Securities Act of 1933, as amended from time to
time.

	1.2 	
      Schedules - The following Schedules
      attached hereto constitute a part of this Agreement:

	 	 	 
		(a) 	
      Schedule A – Allocation of Purchase Price

	 	 	 
		(b) 	
      Schedule B – the Company Financial Statements

	 	 	 
		(c) 	
      Schedule C – the Company Assets and Material
    Contracts

	 	 	 
		(d) 	
      Schedule D –the Company Group Directors, Officers and Key
      Employees

	 	 	 
		(e) 	
      Schedule E – The Purchaser Financial
  Statements

	1.3 	
      Headings - The headings in this Agreement
      are for reference only and do not constitute terms of the
  Agreement.

	 	 
	1.4 	
      Interpretation - Whenever the singular or
      masculine is used in this Agreement the same shall be deemed to include
      the plural or the feminine or the body corporate as the context may
      require.

	 	 
	2. 	
      PURCHASE AND SALE

	 	 
	2.1 	
      Agreement - Upon and subject to the terms
      and conditions of this Agreement, each of the Vendors agrees to sell their
      Company Shares to the Purchaser, and the Purchaser
agrees

- 3 -

		
      with the Company and each of the Vendors to purchase
      their Company Shares, on the Closing Date for the Purchase
Price.

	 	 	 
	2.2 	
      Allocation of Purchase Price - The Purchase
      Price shall be paid by the issuance of the Purchaser Shares to the Vendors
      on the Closing Date as set out in Schedule “A”.

	 	 	 
	2.3 	
      Acknowledgements – Each Vendor acknowledges
      and agrees with the Purchaser that:

	 	 	 
		(a) 	
      Regulation S. Each Vendor acknowledges and agrees
      that the Purchaser Shares will be offered and sold to the Vendor without
      such offers and sales being registered under the United States U.S.
      Securities Act of 1933 and will be issued to the Vendor in accordance with
      Rule 903 of Regulation S of the U.S. Securities Act in an “offshore
      transaction” within the meaning of Regulation S based on the
      representations and warranties of the Vendor in this Agreement. As such,
      each Vendor further acknowledges and agrees that all Purchaser Shares
      will, upon issuance, be “restricted securities” within the meaning of the
      U.S. Securities Act.

	 	 	 
		(b) 	
      Agreement Regarding Resale. Each Vendor agrees to
      resell the Purchaser Shares only in accordance with the provisions of
      Regulation S of the U.S. Securities Act, pursuant to registration under
      the U.S. Securities Act, or pursuant to an available exemption from
      registration pursuant to the U.S. Securities Act, and otherwise in
      accordance with all applicable state securities laws and the laws of any
      other jurisdiction. Each Vendor agrees that the Purchaser may require the
      opinion of legal counsel reasonably acceptable to the Purchaser in the
      event of any offer, sale, pledge or transfer of any of the Purchaser
      Shares by the Vendor pursuant to an exemption from registration under the
      U.S. Securities Act.

	 	 	 
		(c) 	
      Prohibition Against Hedging Transactions. Each
      Vendor agrees not to engage in hedging transactions with regard to the
      Purchaser Shares unless in compliance with the U.S. Securities
  Act.

	 	 	 
		(d) 	
      Right of Company to Refuse Transfer. Each Vendor
      agrees that the Purchaser will refuse to register any transfer of the
      Purchaser Shares not made in accordance with the provisions of Regulation
      S of the U.S. Securities Act, pursuant to registration under the U.S.
      Securities Act, pursuant to an available exemption from registration, or
      otherwise pursuant to this Agreement.

	 	 	 
		(e) 	
      No Obligation to Register. Each Vendor
      acknowledges that the Purchaser has not agreed and has no obligation to
      register the resale of the Purchaser Shares under the U.S. Securities
      Act.

	 	 	 
		(f) 	
      Share Certificates. Each Vendor acknowledges and
      agrees that all certificates representing the Purchaser Shares will be
      endorsed with the following legend in accordance with Regulation S of the
      U.S. Securities Act or such similar legend as deemed advisable by legal
      counsel for the Purchaser to ensure compliance with Regulation S of the
      U.S. Securities Act and to reflect the status of the Purchaser Shares as
      restricted securities:

- 4 -

	 	
      “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
      BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "ACT"), AND
      HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE
      ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE
      TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S,
      PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS
      INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH
      THE ACT”. 
	 

	3. 	
      REPRESENTATIONS AND WARRANTIES

	 	 	 	 
	3.1 	
      Concerning The Purchaser - In order to
      induce the Vendors to enter into this Agreement and complete their
      respective obligations hereunder, the Purchaser represents and warrants to
      the Vendors that:

	 	 	 	 
		(a) 	
      the Purchaser was and remains duly incorporated under the
      laws of the State of Nevada and is in good standing with respect to the
      filing of annual reports with the Nevada Secretary of State;

	 	 	 	 
		(b) 	
      The Purchaser is authorized to issue an unlimited number
      of common shares without par value, of which 11,500,000 common shares are
      issued and outstanding prior to completion of a private placement
      financing and the issue of the Purchaser Shares;

	 	 	 	 
		(c) 	
      there are no commitments, plans or arrangements of any
      kind whatsoever to issue shares of the Purchaser, nor are there any
      outstanding Securities of any kind whatsoever calling for the issuance of
      any of the unissued shares of the Purchaser save and except as
    follows:

	 	 	 	 
			(i) 	
      the shares of the Purchaser to be issued pursuant to this
      Agreement; and

	 	 	 	 
			(ii) 	
      a proposed private placement of 2,500,000 shares of the
      Purchaser to be issued at a price of US$0.05 per share;

	 	 	 	 
		(d) 	
      upon their issuance, the Purchaser Shares will be validly
      issued and outstanding fully paid and non-assessable common shares of the
      Purchaser registered as directed by the Vendors, free and clear of all
      trade restrictions (except as provided for herein) and, except as may be
      created by the Vendors, liens, charges or encumbrances of any kind
      whatsoever;

	 	 	 	 
		(e) 	
      the Purchaser has the corporate power to carry on the
      business carried on by it and to meet its obligations under this
      Agreement;

	 	 	 	 
		(f) 	
      the books and records of Purchaser disclose all material
      financial transactions of The Purchaser since the Effective Date, and such
      transactions have been fairly and accurately recorded;

	 	 	 	 
		(g) 	
      there are no material liabilities of the Purchaser,
      whether direct, indirect, absolute, contingent or otherwise, which are not
      disclosed or reflected in the

- 5 -

	 		
      Purchaser Financial Statements except those incurred in
      the ordinary course of business of the Purchaser since the Effective Date
      and such liabilities are recorded in the books and records of the
      Purchaser;

	 	 	 	 
	 	(h) 	
      since the Effective Date, there has not been any material
      adverse change to the financial position or condition of the Purchaser or
      any damage, loss or other change of any kind whatsoever in circumstances
      materially affecting the business, assets or listing of the Purchaser or
      the right or capacity of The Purchaser to carry on its business;

	 	 	 	 
	 	(i) 	
      the contracts and agreements included on Schedule "E" to
      this Agreement:

	 	 	 	 
	 		(i) 	
      constitute all of the material contracts and agreements
      of the Purchaser;

	 	 	 	 
	 		(ii) 	
      except as is noted on Schedule "E" to this Agreement, are
      in good standing in all respects and not in default in any
  respect;

	 	 	 	 
	 		(iii) 	
      except as is noted on Schedule "E" to this Agreement, can
      be terminated by the Purchaser on not more than one month's
  notice;

	 	 	 	 
	 	(j) 	
      all tax returns and reports of the Purchaser required by
      law to have been filed have been filed and are substantially true,
      complete and correct and all taxes and other government charges of any
      kind whatsoever have been paid or accrued in the Purchaser Financial
      Statements;

	 	 	 	 
	 	(k) 	
      the Purchaser has made all collections, deductions,
      remittances and payments of any kind whatsoever and filed all reports and
      returns required by it to be made or filed under the provisions of all
      applicable statutes requiring the making of collections, deductions,
      remittances or payments of any kind whatsoever in those jurisdictions in
      which it carries on business;

	 	 	 	 
	 	(l) 	
      the Purchaser has good and sufficient right and authority
      to enter into this Agreement and to carry out its obligations under this
      Agreement on the terms and conditions set forth herein and this Agreement
      is a binding agreement on the Purchaser enforceable against it in
      accordance with its terms and conditions;

	 	 	 	 
	 	(m) 	
      to the extent that they might prevent the Purchaser from
      meeting its obligations under this Agreement, there are no outstanding
      actions, suits, judgments, investigations or proceedings of any kind
      whatsoever against or affecting The Purchaser, at law or in equity or
      before or by any Federal, Provincial, State, Municipal or other
      governmental department, commission, board, bureau or agency of any kind
      whatsoever nor are there, to the best of its knowledge, any pending or
      threatened;

	 	 	 	 
	 	(n) 	
      to the best of its knowledge, the Purchaser is not in
      breach of any law, ordinance, statute, regulation, by-law, order or decree
      of any kind whatsoever;

	 	 	 	 
	 	(o) 	
      the execution and delivery of this Agreement and the
      performance of its obligations under this Agreement will
  not:

- 6 -

		
       

	 	 	 (i)	
      conflict with, or result in the breach of or the
      acceleration of any indebtedness under, or constitute default under, the
      Articles of Incorporation and Bylaws of the Purchaser, or any indenture,
      mortgage, agreement, lease, licence or other instrument of any kind
      whatsoever to which the Purchaser is a party or by which it is bound, or
      any judgment or order of any kind whatsoever of any Court or
      administrative body of any kind whatsoever by which the Purchaser is
      bound; or

			
	 	 	 	 
			(ii) 	
      to the best of its knowledge, result in the violation of
      any law, ordinance, statute, regulation, by-law, order or decree of any
      kind whatsoever by the Purchaser; and

	 	 	 	 
		(p) 	
      the Purchaser has not incurred any liability for brokers
      or finders fees of any kind whatsoever with respect to this Agreement or
      any transaction contemplated under this Agreement.

	 	 	 	 
	3.2 	
      Concerning the Company- In order to induce
      the Purchaser to enter into this Agreement and complete its obligations
      hereunder, the Company represents and warrants to The Purchaser
    that:

	 	 	 	 
		(a) 	
      It is duly incorporated under the laws of England and
      Wales and is in good standing with respect to the filing of annual returns
      with the Registrar of Companies;

	 	 	 	 
		(b) 	
      the authorized share capital of the Company consists of
      2,075,000 shares with a par value of ₤0.01 each, of which 1,830,000
      Ordinary A shares and 245,000 Ordinary B shares are issued and outstanding
      as fully paid and non-assessable shares, registered in the names of the
      persons set out in Schedule A

	 	 	 	 
		(c) 	
      except for the Company Shares, there are no other shares,
      options, warrants, convertible notes or debentures, agreements, documents,
      instruments or other writings of any kind whatsoever which constitute a
      "security" of the Company and, except as is provided for in this
      Agreement, there are no options, agreements, rights of first refusal or
      other rights of any kind whatsoever to acquire all or any part of the
      Company Shares or any interest in them from the Vendors or from any one of
      them;

	 	 	 	 
		(d) 	
      the constituting documents of the Company have not been
      altered since the incorporation of the Company or, if they have been, all
      such alterations are contained and reflected in the minute book of the
      Company;

	 	 	 	 
		(e) 	
      all of the material transactions of the Company have been
      promptly and properly recorded or filed in or with the books or records of
      the Company and the minute books of the Company contain all records of the
      meetings and proceedings of shareholders and directors of the Company
      since its incorporation;

	 	 	 	 
		(f) 	
      the only business carried on by the Company is the
      ownership and exploitation of an exclusive world-wide license to
      technology that provides for “Wireless Guest Entertainment” that allows
      hoteliers to increase revenue and guest satisfaction
by

- 7 -

	 		
      providing bespoke wireless entertainment and services
      packages to luxury hotels..

	 	 	 	 
	 	(g) 	
      the Company Financial Statements are true and correct in
      every material respect and present fairly and accurately the financial
      position and results of the operations of the Company for the periods then
      ended and the Company Financial Statements have been prepared in
      accordance with all applicable generally accepted accounting principles
      applied on a consistent basis;

	 	 	 	 
	 	(h) 	
      the books and records of the Company disclose all
      material financial transactions of the Company since the Effective Date,
      and such transactions have been fairly and accurately recorded;

	 	 	 	 
	 	(i) 	
      except as disclosed in the Company Financial
      Statements:

	 	 	 	 
	 		(i) 	
      no dividends or other distributions of any kind
      whatsoever on any shares in the capital of the Company, have been made,
      declared or authorized;

	 	 	 	 
	 		(ii) 	
      the Company is not indebted to any of the
  Vendors;

	 	 	 	 
	 		(iii) 	
      none of the Vendors or any other officer, director or
      employee of the Company is indebted or under obligation to the Company on
      any account whatsoever; and

	 	 	 	 
	 		(iv) 	
      the Company has not guaranteed or agreed to guarantee any
      debt, liability or other obligation of any kind whatsoever of any person,
      firm or corporation of any kind whatsoever;

	 	 	 	 
	 	(j) 	
      there are no material liabilities of the Company whether
      direct, indirect, absolute, contingent or otherwise, which are not
      disclosed or reflected in the Company Financial Statements except those
      incurred in the ordinary course of business of the Company since the
      Effective Date and such liabilities are recorded in the books and records
      of the Company;

	 	 	 	 
	 	(k) 	
      since the Effective Date:

	 	 	 	 
	 		(i) 	
      there has not been any material adverse change of any
      kind whatsoever in the financial position or condition of the Company or
      any damage, loss or other change of any kind whatsoever in circumstances
      materially affecting the business or the assets of the Company or the
      right or capacity of the Company to carry on its business;

	 	 	 	 
	 		(ii) 	
      the Company has not waived or surrendered any right of
      any kind whatsoever of material value;

	 	 	 	 
	 		(iii) 	
      except as permitted under this Agreement, the Company has
      not discharged, satisfied or paid any lien, charge or encumbrance of any
      kind whatsoever or obligation or liability of any kind whatsoever other
      than current liabilities in the ordinary course of its
  business;

- 8 -

	 		(iv) 	
      the business of the Company has been carried on in the
      ordinary course;

	 	 	 	 
	 		(v) 	
      no capital expenditures exceeding in the aggregate
      ₤10,000 have been authorized or made by the Company;

	 	 	 	 
	 	(l) 	
      the accounts receivable of the Company shown on the
      Company Financial Statements are bona fide, good and collectible without
      set-off or counterclaim;

	 	 	 	 
	 	(m) 	
      all tax returns and reports of the Company required by
      law to have been filed have been filed and are substantially true,
      complete and correct and all taxes and other government charges of any
      kind whatsoever of the Company have been paid or accrued in the Company
      Financial Statements;

	 	 	 	 
	 	(n) 	
      the Company has been assessed for income tax for all of
      its full or partial fiscal years to and including its most recently
      completed fiscal year;

	 	 	 	 
	 	(o) 	
      adequate provision has been made for taxes payable by the
      Company for the current period for which tax returns are not yet required
      to be filed and there are no agreements, waivers or other arrangements of
      any kind whatsoever providing for an extension of time with respect to the
      filing of any tax return by, or payment of, any tax or governmental charge
      of any kind whatsoever by the Company;

	 	 	 	 
	 	(p) 	
      they are not aware of any contingent tax liabilities of
      the Company of any kind whatsoever or any grounds which would prompt a
      reassessment of the Company including aggressive treatment of income and
      expenses in earlier tax returns filed;

	 	 	 	 
	 	(q) 	
      the Company has made all collections, deductions,
      remittances and payments of any kind whatsoever and filed all reports and
      returns required by it to be made or filed under the provisions of all
      applicable statutes requiring the making of collections, deductions,
      remittances or payments of any kind whatsoever in those jurisdictions in
      which the Company carries on business;

	 	 	 	 
	 	(r) 	
      the Company has good and sufficient right and authority
      to enter into this Agreement and to carry out its obligations under this
      Agreement on the terms and conditions set forth herein, and this Agreement
      is a binding agreement on the Company enforceable against it in accordance
      with its terms and conditions;

	 	 	 	 
	 	(s) 	
      there are no outstanding actions, suits, judgments,
      investigations or proceedings of any kind whatsoever against or affecting
      the Company at law or in equity or before or by any federal, provincial,
      state, municipal or other governmental department, commission, board,
      bureau or agency of any kind whatsoever nor are there, to the best of
      their knowledge, any pending or threatened;

	 	 	 	 
	 	(t) 	
      the directors, officers and key employees of the Company
      and all of their compensation arrangements whether as directors, officers
      or employees of, or as independent contractors or consultants to the
      Company are as listed on Schedule "C" to this
Agreement;

- 9 -

	 	(u) 	
      there are no pensions, profit sharing, group insurance or
      similar plans or other deferred compensation plans of any kind whatsoever
      affecting the Company other than those specified on Schedule "C" to this
      Agreement;

	 	 	 	 
	 	(v) 	
      to the best of their knowledge, the Company is not in
      breach of any law, ordinance, statute, regulation, by-law, order or decree
      of any kind whatsoever;

	 	 	 	 
	 	(w) 	
      the execution and delivery of this Agreement and the
      performance of the parties obligations under this Agreement will
    not:

	 	 	 	 
	 		(i) 	
      conflict with, or result in the breach of or the
      acceleration of any indebtedness under, or constitute default under, the
      constating documents of the Company, or any indenture, mortgage,
      agreement, lease, licence or other instrument of any kind whatsoever to
      which the Company is a party or by which any one of them is bound, or any
      judgment or order of any kind whatsoever of any court or administrative
      body of any kind whatsoever by which any one of them is bound;
or

	 	 	 	 
	 		(ii) 	
      to the best of their knowledge, result in the violation
      of any law, ordinance, statute, regulation, by-law, order or decree of any
      kind;

	 	 	 	 
	 	(x) 	
      the Company holds all licences and permits that are
      required for carrying on its Business in the manner in which such Business
      has been carried on and in the manner in which such Business will need to
      be carried on in order for the Company to meet its obligations under this
      Agreement;

	 	 	 	 
	 	(y) 	
      the Company is the registered and beneficial owners of
      all of the properties and assets (collectively the "Assets") listed in
      Schedule "C" to this Agreement, and such Assets represent all of the
      property and assets used by the Company and which are necessary or useful
      in the conduct of its Business;

	 	 	 	 
	 	(z) 	
      the Company has the power to own the Assets owned by it
      and has the power to carry on the Business carried on by it and to meet
      its obligations under this Agreement, and the Company is duly qualified to
      carry on business in all jurisdictions in which it carries on
    business;

	 	 	 	 
	 	(aa) 	
      the Company has good and marketable title to the Assets
      free and clear of all liens, charges and encumbrances of any kind
      whatsoever save and except for those specified as "Permitted Encumbrances"
      on Schedule "B" to this Agreement;

	 	 	 	 
	 	(bb) 	
      all machinery and equipment of any kind whatsoever
      comprised in the Assets is in reasonable operating condition and in a
      state of reasonable maintenance and repair taking into account its age and
      use;

	 	 	 	 
	 	(cc) 	
      the trademarks, trade names, business names, patents,
      inventions, know-how, copyrights, software, source code, object code,
      service marks, brand names, industrial designs and all other industrial or
      intellectual property owned or used by the Company in carrying on the
      Business and all applications therefor and all goodwill connected
      therewith, including, without limitation, all licences,
  registered

- 10 -

	 		
      user agreements and all like rights used by or granted to
      the Company in connection with the Business and all right to register or
      otherwise apply for the protection of any of the foregoing (collectively
      the "Intellectual Property") included on Schedule "B" to this Agreement
      constitute all of the Intellectual Property of the Company;

	 	 	 
	 	(dd) 	
      the Intellectual Property comprises all trade marks,
      trade names, business names, patents, inventions, know-how, copyrights,
      software, source code, object code, service marks, brand marks, industrial
      designs and all other industrial or intellectual property necessary to
      conduct the Business;

	 	 	 
	 	(ee) 	
      except as disclosed on Schedule "B", the Company is the
      beneficial owner of the Intellectual Property free and clear of all liens,
      charges or encumbrances of any kind whatsoever save and except for the
      Permitted Encumbrances, and the Company is not party to or bound by any
      agreement or other obligation of any kind whatsoever that limits or
      impairs its ability to sell, transfer, assign or convey, or that otherwise
      affects, the Intellectual Property;

	 	 	 
	 	(ff) 	
      except as disclosed on Schedule "B", no person has been
      granted any interest in or right to use all or any portion of the
      Intellectual Property and they are not aware of a claim of any
      infringement or breach of any industrial or intellectual property rights
      of any other person by the Company, nor has the Company received any
      notice that the conduct of the Business, including the use of the
      Intellectual Property, infringes upon or breach any industrial or
      intellectual property rights of any other person, and they, after due
      inquiry, do not have any knowledge of any infringement or violation of any
      of the rights of the Company in the Intellectual Property.

	 	 	 
	 	(gg) 	
      the conduct of the Business does not infringe upon the
      patents, trade marks, licences, trade names, business names, copyright or
      other industrial or intellectual property rights, domestic or foreign, of
      any other person and they are not aware of any state of facts that casts
      doubt on the validity or enforceability of any of the Intellectual
      Property.

	 	 	 
	 	(hh) 	
      all of the Material Contracts that comprise or relate to
      the Intellectual Property are listed on Schedule "B".

	 	 	 
	 	(ii) 	
      the Company maintains insurance against loss of, or
      damage to, the Assets by all insurable risks on a replacement cost basis
      and reasonable insurance with respect to public liability for a business
      of its size (collectively the "Insurance Coverage"), and all of the
      policies (the "Insurance Policies") in respect of such Insurance Coverage
      are listed on Schedule "A" to this Agreement and all such Insurance
      Policies are in good standing in all respects and not in default in any
      respects;

	 	 	 
	 	(jj) 	
      no payments of any kind whatsoever have been made or
      authorized by the Company since the Effective Date to or on behalf of the
      Shareholders of or entity holding an interest in the Company or any one of
      them or to or on behalf of any of the directors, officers or key employees
      of the Company except in accordance

- 11 -

	 		
      with those compensation arrangements specified on
      Schedule "C" to this Agreement or except as contemplated by this
      Agreement;

	 	 	 
	 	(kk) 	
      there are no pensions, profit sharing, group insurance or
      similar plans or other deferred compensation plans of any kind whatsoever
      affecting the Company other than those specified on Schedule "C" to this
      Agreement;

	 	 	 
	 	(ll) 	
      the Company is not now, and have never been, a party to
      any collective agreement with any labour union or other association of
      employees of any kind whatsoever;

	 	 	 
	 	(mm) 	
      the contracts and agreements included on Schedules "B"
      and "C" to this Agreement (collectively the "Material Contracts")
      constitute all of the material contracts and agreements of the
    Company;

	 	 	 
	 	(nn) 	
      except as is noted on the appropriate Schedule to this
      Agreement, the Material Contracts are in good standing in all respects and
      not in default in any respect;

	 	 	 
	 	(oo) 	
      except as is noted on the appropriate Schedule to this
      Agreement, all of the Material Contracts can be terminated by the Company,
      as applicable, on not more than one month's notice;

	 	 	 
	 	(pp) 	
      the facts which are the subject of the representations
      and warranties of the Company contained in this Agreement disclose all
      material facts known to the Company which are material and relevant to
      their obligations and the obligations of the Company hereunder or which
      might prevent any of them from meeting their obligations under this
      Agreement.

	3.3 	
      Concerning the Vendors - In order to induce
      the Purchaser to enter into this Agreement and complete its obligations
      hereunder including the issuance of the Purchaser Shares, each Vendor
      represents and warrants to the Purchaser that:

	 	(a) 	
      the Company Shares registered in the name of the Vendor
      are beneficially owned by the Vendor as set forth in this Agreement, free
      and clear of all voting restrictions, trade restrictions, liens, charges
      or encumbrances of any kind whatsoever;

	 	 	 
	 	(b) 	
      except as is provided for by operation of this Agreement,
      there are no options, agreements, rights of first refusal or other rights
      of any kind whatsoever to acquire all or any part of the Vendor’s Company
      Shares or any interest in them;

	 	 	 
	 	(c) 	
      the Vendor has good and sufficient right and authority to
      enter into this Agreement and to carry out the Vendor’s obligations under
      this Agreement on the terms and conditions set forth herein, and this
      Agreement is a binding agreement on the Vendor, enforceable against the
      Vendor in accordance with its terms and conditions;

	 	 	 
	 	(d) 	
      to the extent that they might prevent him, her or it from
      meeting the Vendor’s obligations under this Agreement, there are no
      outstanding actions, suits, judgments, investigations or proceedings of
      any kind whatsoever against or

- 12 -

	 		
      affecting the Vendor at law or in equity or before or by
      any federal, provincial, state, municipal or other government department,
      commission, board, bureau or agency of any kind whatsoever nor are there,
      to the best of the Vendor’s knowledge, any pending or
threatened;

	 	 	 	 	 
	 	(e) 	
      the execution and delivery of this Agreement and the
      performance of the Vendor’s obligations under this Agreement will
    not:

	 	 	 	 	 
	 		(i) 	
      conflict with, or result in the breach of or the
      acceleration of any indebtedness under, or constitute default, under any
      indenture, mortgage, agreement, lease, licence or other instrument of any
      kind whatsoever to which the Vendor is a party or by which the Vendor is
      bound, or any judgment or order of any kind whatsoever of any court or
      administrative body of any kind whatsoever by which the Vendor is bound;
      or

	 	 	 	 	 
	 		(ii) 	
      to the best of the Vendor’s knowledge, result in the
      violation of any law ordinance, statute, regulation, by-law, order or
      decree of any kind whatsoever by the Vendor.

	 	 	 	 	 
	 	(f) 	
      the Vendor is not a “U.S. Person” as defined by
      Regulation S of the U.S. Securities Act and is not acquiring the Purchaser
      Shares for the account or benefit of a U.S. Person.

	 	 	 	 	 
	 		
      A “U.S. Person” is defined by Regulation S of the Act
      to be any person who is:

	 	 	 	 	 
	 		(i) 	
      any natural person resident in the United
  States;

	 	 	 	 	 
	 		(ii) 	
      any partnership or corporation organized or incorporated
      under the laws of the United States

	 	 	 	 	 
	 		(iii) 	
      any estate of which any executor or administrator is a
      U.S. person;

	 	 	 	 	 
	 		(iv) 	
      any trust of which any trustee is a U.S.
person;

	 	 	 	 	 
	 		(v) 	
      any agency or branch of a foreign entity located in the
      United States;

	 	 	 	 	 
	 		(vi) 	
      any non-discretionary account or similar account (other
      than an estate or trust) held by a dealer or other fiduciary organized,
      incorporate, or (if an individual) resident in the United States;
    and

	 	 	 	 	 
	 		(vii) 	
      any partnership or corporation if:

	 	 	 	 	 
	 			(a) 	
      organized or incorporated under the laws of any foreign
      jurisdiction; and

	 	 	 	 	 
	 			(b) 	
      formed by a U.S. person principally for the purpose of
      investing in securities not registered under the Act, unless it is
      organized or incorporated, and owned, by accredited Vendors [as defined in
      Section 230.501(a) of the Act] who are not natural persons, estates or
      trusts;

- 13 -

	 	(g) 	
      the Vendor was not in the United States at the time the
      offer to purchase the Purchaser Shares was received or this Agreement was
      executed;

	 	 	 
	 	(h) 	
      the Vendor has such knowledge, sophistication and
      experience in business and financial matters such that it is capable of
      evaluating the merits and risks of the investment in the Purchaser Shares.
      The Vendor has evaluated the merits and risks of an investment in the
      Purchaser Shares. The Vendor can bear the economic risk of this
      investment, and is able to afford a complete loss of this
    investment;

	 	 	 
	 	(i) 	
      the Vendor acknowledges that the Purchaser is in the
      early stages of development of its business and the Purchaser’s success is
      subject to a number of significant risks, including the risk that the
      Purchaser will not be able to finance its plan of operations. The Vendor
      further acknowledges that (i) the Purchaser has limited cash and working
      capital, (ii) the Purchaser will have to raise additional capital in order
      to finance its plan of operations which capital may be raised by the issue
      of additional shares of its common stock which will result in dilution to
      the Vendor, and (iii) the Purchaser has no arrangements for any financing
      in place and there is no assurance that any financing will be
      completed;

	 	 	 
	 	(j) 	
      the Purchaser Shares will be acquired by the Vendor for
      investment for the Vendor's own account, not as a nominee or agent, and
      not with a view to the resale or distribution of any part thereof, and
      that the Vendor has no present intention of selling, granting any
      participation in, or otherwise distributing the same. The Vendor does not
      have any contract, undertaking, agreement or arrangement with any person
      to sell, transfer or grant participations to such person or to any third
      person, with respect to any of the Purchaser Shares;

	 	 	 
	 	(k) 	
      the Vendor has been afforded access to information about
      the Purchaser and the Purchaser’s financial condition, results of
      operations, business, properties, management and prospects sufficient it
      to evaluate its investment in the Purchaser Shares. The Vendor further
      represents that it has had an opportunity to ask questions and receive
      answers from representatives of the Purchaser regarding the terms and
      conditions of the offerings completed by the Purchaser and the business,
      properties, prospects and financial condition of the Purchaser, each as is
      necessary to evaluate the merits and risks of investing in the Purchaser
      Shares. The Vendor believes it has received all the information it
      considers necessary or appropriate for deciding whether to purchase the
      Purchaser Shares. The Vendor has had full opportunity to discuss this
      information with the Vendor’s legal and financial advisers prior to
      execution of this Agreement;

	 	 	 
	 	(l) 	
      the Vendor acknowledges that the Purchaser will rely on
      these representations in completing the issuance of the Purchaser Shares
      to the Vendor;

	 	 	 
	 	(m) 	
      the Vendor acknowledges that the offering of the
      Purchaser Shares by the Purchaser has not been reviewed by the SEC or any
      state securities regulatory authority;

- 14 -

	 	(n) 	
      this Agreement has been duly authorized, validly executed
      and delivered by the Vendor; and

	 	 	 
	 	(o) 	
      the Vendor has satisfied himself or herself as to the
      full observance of the laws of his or her jurisdiction in connection with
      the purchase of the Purchaser Shares and the execution of this Agreement,
      including (i) the legal requirements within jurisdiction of residence of
      the Vendor for the purchase of the Purchaser Shares; (ii) any foreign
      exchange restrictions applicable to such purchase; (iii) any governmental
      or other consents that may need to be obtained; (iv) the income tax and
      other tax consequences, if any, that may be relevant to an investment in
      the Purchaser Shares; and (v) any restrictions on transfer applicable to
      any disposition of the Purchaser Shares imposed by the jurisdiction in
      which the Vendor is resident.

	3.4 	
      Survival - The representations and
      warranties made by the parties under this Part are true and correct as of
      the Effective Date and shall be true and correct at the Time of Closing as
      though they were made at that time, and should such not be the case, the
      parties to whom the representations and warranties were made shall be
      entitled, for a period of one year following the Closing, to seek remedy
      against that party for any such misrepresentation or breach of
      warranty.

	 	 	 
	4. 	
      COVENANTS AND AGREEMENTS

	 	 	 
	4.1 	
      Given to The Purchaser - Each Vendor and
      the Company covenant and agree with The Purchaser that the Vendors and the
      Company will:

	 	 	 
		(a) 	
      permit the Purchaser’s representatives at its own cost,
      as applicable, full access to the Company's books, records and property
      including, without limitation, all of the Assets, contracts and minute
      books of the Company, so as to permit The Purchaser to make such
      investigation of the Company as the Purchaser deems necessary;

	 	 	 
		(b) 	
      do all such acts and things necessary to ensure that all
      of the representations and warranties of the Vendors and the Company, or
      any one of them, remain true and correct, and not do any such act or thing
      that would render any representation or warranty of the Vendors and the
      Company or any one of them untrue or incorrect;

	 	 	 
		(c) 	
      from and including the Effective Date through to and
      including the Time of Closing, preserve and protect the goodwill, Assets,
      business and undertaking of the Company and, without limiting the
      generality of the foregoing, carry on the business of the Company in a
      reasonable and prudent manner;

	 	 	 
		(d) 	
      not negotiate with any other person in respect of a
      purchase and sale of any of the Company or any part of the Assets, other
      than in the ordinary course of business.

	 	 	 
	4.2 	
      No limitation on The Purchaser - The
      Vendors jointly and severally acknowledge to and agree with the Purchaser
      that the Purchaser’s investigation shall in no way limit or otherwise
      adversely affect the rights of the Purchaser as provided for hereunder in
      respect of the

- 15 -

		
      representations and warranties of the Vendors and the
      Company contained in this Agreement.

	 	 	 
	4.3 	
      Given by The Purchaser - The Purchaser
      covenants and agrees with each Vendor and the Company that the Purchaser
      shall:

	 	 	 
		(a) 	
      permit the Vendors’ representatives, at their own cost,
      full access to The Purchaser's property, books and records including,
      without limitation, all of the assets, contracts and minute books of the
      Purchaser, so as to permit the Vendors' representatives to make such
      investigation of the Purchaser as the Vendors deem reasonably
      necessary;

	 	 	 
		(b) 	
      from and including the Effective Date through to and
      including the Time of Closing, do all such acts and things necessary to
      ensure that all of the representations and warranties of The Purchaser
      remain true and correct and not do any such act or thing that would render
      any representation or warranty of The Purchaser untrue or
  incorrect;

	 	 	 
		(c) 	
      name Nathan Amery as management's nominees for election
      to its board of directors at the first shareholders' meeting of the
      Purchaser held after the Effective Date, and use its best efforts to
      secure proxies in favour of the appointment of Nathan Amery to its
      board.

	4.4 	
      No limit on rights - The Purchaser
      acknowledges to and agrees with the Vendors that the Vendors'
      investigation shall in no way limit or otherwise adversely affect the
      rights of the Vendors as provided for hereunder in respect of the
      representations and warranties of the Purchaser contained in this
      Agreement.

	 	 
	5. 	
      CONDITIONS PRECEDENT

	 	 
	5.1 	
      In favour of all parties - The obligations
      of all parties under this Agreement are subject to the fulfillment of the
      following condition on or before September 30,
2005:

	 	(a) 	
      the passing of an ordinary resolution by the shareholders
      of the Purchaser approving the purchase of the Company Shares on the terms
      contemplated by this Agreement;

and if such condition has not been
fulfilled by that date or such later date that the parties may mutually agree
upon, this Agreement shall terminate and be of no further force and effect. 

	5.2 	
      In favour of The Purchaser - The
      Purchaser's obligations under this Agreement are subject to the fulfilment
      of the following conditions as of the Time of Closing:

	 	 	 
		(a) 	
      the Purchaser shall have been able to complete its
      investigations into the affairs of the Company to its reasonable
      satisfaction;

	 	 	 
		(b) 	
      Nathan Amery shall be the only director of the
      Company;

- 16 -

	 	(c) 	
      the Vendors and the Company shall have complied with all
      of their respective covenants and agreements contained in this Agreement;
      and

	 	 	 
	 	(d) 	
      the representations and warranties of the Vendors and the
      Company or any one of them shall be completely true as if such
      representations and warranties had been made by the Vendors and the
      Company as of the Time of Closing.

The conditions precedent set forth
above are for the exclusive benefit of the Purchaser and may be waived by it in
whole or in part on or before the Time of Closing. 

	5.3 	
      In favour of the Vendors - The Vendor's
      respective obligations under this Agreement are subject to the fulfilment
      of the following conditions as of the Time of Closing:

	 	 	 
		(a) 	
      the Vendors shall have been able to complete the Vendors'
      investigation into the affairs of the Purchaser to their reasonable
      satisfaction;

	 	 	 
		(b) 	
      the Purchaser shall have complied with all of its
      covenants and agreements contained in this Agreement; and

	 	 	 
		(c) 	
      the representations and warranties of the Purchaser shall
      be completely true as if such representations and warranties had been made
      by the Purchaser as of the Time of Closing.

The conditions precedent set forth
above are for the exclusive benefit of each of the Vendors and may be waived by
each of them in whole or in part on or before the Time of Closing. 

	6. 	
      CLOSING

	 	 	 	 
	6.1 	
      Closing Date - The Closing shall take place
      at the Time of Closing on the Closing Date, or such other time, date or
      place as the parties may mutually agree upon.

	 	 	 	 
	6.2 	
      Deliveries by the Company - At the Closing,
      the Company shall deliver to The Purchaser the following
  documents:

	 	 	 	 
		(a) 	
      a certified true copy of the resolutions of the directors
      and, if necessary, the shareholders of the Company evidencing that the
      board and, if applicable, shareholders of the Company have approved this
      Agreement and all of the transactions of the Company contemplated
      hereunder and the resolutions shall include specific reference
  to:

	 	 	 	 
			(i) 	
      the sale and transfer of the Company Shares from the
      Vendors to The Purchaser as provided for in this Agreement;

	 	 	 	 
			(ii) 	
      the cancellation of the share certificates representing
      the Company Shares held by the Vendors; and

	 	 	 	 
			(iii) 	
      the issuance of a new share certificate representing the
      Company Shares registered in the name of the
Purchaser;

- 17 -

	 	(b) 	
      a certificate signed by authorized representatives of the
      Company that the representations and warranties of those persons contained
      in this Agreement are true and correct in every respect as of the Time of
      Closing on the Closing Date;

	 	 	 
	 	(c) 	
      if the parties settle on a mutually acceptable form of
      closing agenda prior to the Time of Closing, then such other Closing
      documents as are listed on that closing agenda as Closing documents to be
      delivered by the Vendors and by the Company; and

	 	 	 
	 	(d) 	
      if the parties choose not to or are unable to settle on a
      mutually acceptable form of closing agenda prior to the Time of Closing,
      then such other materials that are, in the opinion of the Purchaser acting
      reasonably, required to be delivered by the Vendors and by the Company in
      order for them to meet their obligations under this
  Agreement.

	6.3 	
      Deliveries by the Vendors – At the Closing,
      each of the Vendors shall deliver their original certificates representing
      the Company Shares owned by them together with a share transfer, duly
      completed and executed to the satisfaction of the Company.

	 	 	 
	6.4 	
      Deliveries by The Purchaser - At the Time
      of Closing on the Closing Date, the Purchaser shall deliver to the
      Vendors:

	 	 	 
		(a) 	
      certified true copies of the resolutions of the directors
      evidencing the approval of this Agreement and all of the transactions of
      the Purchaser contemplated hereunder;

	 	 	 
		(b) 	
      certified true copies of the resolutions of the
      shareholders of the Purchaser evidencing the approval of this Agreement
      and the transactions contemplated hereunder;

	 	 	 
		(c) 	
      share certificates representing the Purchaser Shares
      registered in the names of the Vendors;

	 	 	 
		(d) 	
      a certificate signed by an authorized representative of
      the Purchaser that the representations and warranties of the Purchaser
      contained in this Agreement are true and correct in every respect as of
      the Time of Closing on the Closing Date;

	 	 	 
		(e) 	
      if the parties settle on a mutually acceptable form of
      closing agenda prior to the Time of Closing, then such other Closing
      documents as are listed on that closing agenda as Closing documents to be
      delivered by the Purchaser; and

	 	 	 
		(f) 	
      if the parties choose not to or are unable to settle on a
      mutually acceptable form of closing agenda prior to the Time of Closing,
      then such other materials that are, in the opinion of the Vendors and the
      Company acting reasonably, required to be delivered by The Purchaser in
      order for it to meet its obligations under this
  Agreement.

- 18 -

	7. 	
      GENERAL

	 	 
	7.1 	
      Time - Time and each of the terms and
      conditions of this Agreement shall be of the essence of this Agreement and
      any waiver by the parties of this paragraph or any failure by them to
      exercise any of their rights under this Agreement shall be limited to the
      particular instance and shall not extend to any other instance or matter
      in this Agreement or otherwise affect any of their rights or remedies
      under this Agreement.

	 	 
	7.2 	
      Entire agreement - This Agreement
      constitutes the entire Agreement between the parties hereto in respect of
      the matters referred to herein and there are no representations,
      warranties, covenants or agreements, expressed or implied, collateral
      hereto other than as expressly set forth or referred to herein.

	 	 
	7.3 	
      Further assurances - The parties hereto
      shall execute and deliver all such further documents and instruments and
      do all such acts and things as any party may, either before or after the
      Closing, reasonably require of the other in order that the full intent and
      meaning of this Agreement is carried out. The provisions contained in this
      Agreement which, by their terms, require performance by a party to this
      Agreement subsequent to the Closing of this Agreement, shall survive the
      Closing of this Agreement.

	 	 
	7.4 	
      Amendments - No alteration, amendment,
      modification or interpretation of this Agreement or any provision of this
      Agreement shall be valid and binding upon the parties hereto unless such
      alteration, amendment, modification or interpretation is in written form
      executed by all of the parties to this Agreement.

	 	 
	7.5 	
      Notices - Any notice, request, demand,
      election and other communication of any kind whatsoever to be given under
      this Agreement shall be in writing and shall be delivered by hand, e-mail
      or by fax to the parties at their following respective
  addresses:

To the Vendors or the Company : 

Magenta New Media Ltd. 
Suite 5.15,
130 Shaftesbury Avenue
London, England W1D 5EU 

Attention: Nathan Amery 

Fax: +44 20-70311199 
Email:
nathan.amery@magentamedia.net 

To The Purchaser: 

Hasox Inc.
12255 Alta Sierra
Drive,
Grass Valley, California 95949 

Attention: Ray Saturnino 

Email: rsaturnino@yahoo.com 

- 19 -

or to such other addresses as may be
given in writing by the parties hereto in the manner provided for in this
paragraph, and the party sending such notice should request acknowledgment of
delivery and the party receiving such notice should provide such acknowledgment.
Notwithstanding whether or not a request for acknowledgment has been made or
replied to, whether or not delivery has occurred will be a question of fact. If
a party can prove that delivery was made as provided for above, then it will
constitute delivery for the purposes of this Agreement whether or not the
receiving party acknowledged receipt. Each of the Vendors hereby appoints the
Company as its nominee for the purpose of receiving a notice from the
Purchaser pursuant to this Agreement. 

	7.6 	
      Assignment - This Agreement may not be
      assigned by any party hereto without the prior written consent of all of
      the parties hereto. 

	  	
       

	7.7 	
      Governing law - This Agreement shall be
      subject to, governed by, and construed in accordance with the laws of
      England and Wales applicable therein, and the parties hereby attorn to the
      jurisdiction of the Courts of England. 

	  	
	7.8 	
      Counterparts - This Agreement may be signed
      by fax and in counterpart, and each copy so signed shall be deemed to be
      an original, and all such counterparts together shall constitute one and
      the same instrument. 

	  	
       

	7.9 	
      Severability - If any one or more of the
      provisions contained in this agreement should be invalid, illegal or
      unenforceable in any respect in any jurisdiction, the validity, legality
      and enforceability of such provision or provisions will not in any way be
      affected or impaired thereby in any other jurisdiction and the validity,
      legality and enforceability of the remaining provisions contained herein
      will not in any way be affected or impaired thereby, unless in either case
      as a result of such determination this agreement would fail in its
      essential purpose. 

	  	
	7.10	
      Enurement – This Agreement shall
      enure to the benefit of and be binding upon the parties hereto and their
      respective successors, permitted assigns, trustees, representatives, heirs
      and executors.

IN WITNESS WHEREOF the parties have hereunto set their
hands and seals as of the Effective Date first above written. 

	THE CORPORATE SEAL of HASOX INC. was 	) 	 
	hereunto affixed in the presence of: 	) 	 
	  	) 	 
	/s/ Ray Saturnino
    	) 	c/s 
	Authorized Signatory 	) 	 
	  	) 	 
	  	) 	 
	Authorized Signatory 	) 	 

- 20 -

	THE CORPORATE SEAL of MAGENTA NEW 	) 	  
	MEDIA LTD. was hereunto affixed in the 	) 	  
	presence of: 	) 	  
	  	) 	c/s 
	/s/ Nathan
      Amery 	) 	  
	Authorized Signatory 	) 	  
	  	) 	  
	  	) 	  
	Authorized Signatory 	  	  
	  	  	  
	THE CORPORATE SEAL of ABS GLOBAL 	) 	  
	CAPITAL INC. was hereunto affixed in the 	) 	  
	presence of: 	) 	  
	  	) 	c/s 
	/s/ Louisa
      Mouck 	) 	  
	Authorized Signatory 	) 	  
	  	) 	  
	for EQUITY
      MANAGEMENT INC. 	) 	  
	Authorized Signatory 	  	  
	  	  	  
	  	  	  
	THE CORPORATE SEAL of OUTLANDER 	) 	  
	MANAGEMENT LIMITED was hereunto 	) 	  
	affixed in the presence of: 	) 	  
	  	) 	c/s 
	/s/ Joachim
      Bondo 	) 	  
	Authorized Signatory 	) 	  
	  	) 	  
	  	) 	  
	Authorized Signatory 	  	  
	  	) 	  
	EXECUTED BY NATHAN AMERY in the 	) 	  
	presence of: 	) 	  
	  	) /s/
      Nathan Amery 	  
	/s/ Coralie
      Geneve 	) NATHAN AMERY 	  
	Signature of Witness 	) 	  
	  	) 	  
	CORALIE GENEVE 	) 	  
	Name of Witness 	) 	  

SCHEDULE "A"

TO THE SHARE EXCHANGE AGREEMENT
DATED AUGUST 20, 2005

LIST OF VENDORS AND ALLOCATION OF PURCHASE
PRICE 

	Name of Vendor 	 	Company Shares 	 	 	Purchaser Shares 	 
	ABS Global Capital Inc 	 	1,730,000 	 	 	10,421,686 	 
	Outlander Management 	 	100,000 	 	 	602,410 	 
	Limited 	 	  	 	 	  	 
	Nathan Amery 	 	245,000 	 	 	1,475,904 	 
	Total: 	 	2,075,000 	 	 	12,500,000 	 

- 2 -

SCHEDULE "B"

TO THE SHARE EXCHANGE AGREEMENT
DATED AUGUST 20, 2005

FINANCIAL STATEMENTS 

MAGENTA NEW MEDIA LIMITED

MANAGEMENT ACCOUNTS 

  17 MONTHS TO JULY 2005 

  (Period July 2005)

 

  

 

PEARL ACCOUNTING LIMITED

 

	MAGENTA NEW MEDIA LIMITED 
	CASH FLOW ANALYSIS 
	17 MONTHS TO JULY 2005 

	  		£ 	 	 
	  	 	  	 	 
	Net profit (loss) for the period 	 	(17,707	) 	 
	Depreciation 	 	675 	 	 
	Operating cash flow 	 	(17,032	) 	 
	CHANGES IN WORKING CAPITAL 	 	  	 	 
	  	 	  	 	 
	Trade debtors 	 	(36,322	) 	 
	Stock 	 	#REF! 	 	 
	Trade creditors 	 	(5,580	) 	 
	  	 	  	 	 
	Total changes in working capital 	 	#REF! 	 	 
	FIXED ASSET ADDITIONS 	 	  	 	 
	  	 	  	 	 
	Interior 	 	0 	 	 
	Trade mark 	 	0 	 	 
	IT 	 	0 	 	 
	Equipment 	 	(782	) 	 
	Other tangible assets 	 	(2,100	) 	 
	Other intangible assets 	 	0 	 	 
	Total fixed asset additions 	 	(2,882	) 	 
	Total operating cash flow 	 	#REF! 	 	 
	FINANCIAL ITEMS 	 	  	 	 
	  	 	  	 	 
	Dividends 	 	0 	 	 
	Changes in share capital 	 	8,366 	 	 
	Changes in loan capital 	 	53,450 	 	 
	Total financial items 	 	61,816 	 	 
	Total cash flow 	 	#REF! 	 	 
	  	 	  	 	 
	  	 	  	 	 
	Opening cash balance 	 	#REF! 	 	 
	  	 	  	 	 
	Closing cash balance 	 	0 	 	 
	Changes in cash balance 	 	#REF! 	 	 

	MAGENTA NEW MEDIA LIMITED 
	PROFIT AND LOSS ACCOUNT 
	17 MONTHS TO JULY 2005 

	 	 	PERIOD FIGURES 		YEAR TO DATE 
	  	 	 	  	 	 	  	 	 	  	 	  	PREVIOUS MONTH 
	  	 	 	JULY 2005 	 	 	JUNE 2005 	 	 	VARIANCE 	 	  	 	JULY 2005 	 	 	JUNE 2005 	 	 	VARIANCE 	 
	  	 		£ 	 		£	 		£	 	  		£	 		£	 		£	 
	INCOME 	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	Income 	 	 	0 	 	 	0 	 	 	0 	 	  	 	411 	 	 	411 	 	 	0 	 
	Interest Received 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Introducer Fees 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Revenue Share Commission 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	  	 	 	0 	 	 	0 	 	 	0 	 	  	 	411 	 	 	411 	 	 	0 	 
	COST OF SALES 	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	Opening stock 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Marketing & Sales Support 	 	 	0 	 	 	1,000 	 	 	(1,000	) 	  	 	14,058 	 	 	14,058 	 	 	0 	 
	Material Purchases 	 	 	0 	 	 	0 	 	 	0 	 	  	 	4,342 	 	 	4,342 	 	 	0 	 
	Development Costs 	 	 	0 	 	 	0 	 	 	0 	 	  	 	6,700 	 	 	6,700 	 	 	0 	 
	  	 	 	0 	 	 	1,000 	 	 	(1,000	) 	  	 	25,099 	 	 	25,099 	 	 	0 	 
	Less: Closing stock 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	  	 	 	0 	 	 	1,000
    	 	 	(1,000	) 	  	 	25,099
    	 	 	25,099
    	 	 	0 	 
	GROSS PROFIT 	 	 	0 	 	 	(1,000	) 	 	1,000 	 	  	 	(24,689	) 	 	(24,689	) 	 	0 	 
		%	 	#DIV/0! 	 	 	  	 	 	#DIV/0! 	 	% 	 	-6013.13% 	 	 	  	 	 	#DIV/0! 	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	ADMINISTRATIVE EXPENSES 	 	 	17,707 	 	 	4,644 	 	 	17,707 	 	  	 	90,540 	 	 	72,833 	 	 	17,707 	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	NET PROFIT/(LOSS) FOR THE PERIOD
    	 	 	(17,707	) 	 	(5,644	) 	 	(12,063	) 	  	 	(115,229	) 	 	(97,522	) 	 	(17,707	) 

	MAGENTA NEW MEDIA LIMITED 
	PROFIT AND LOSS ACCOUNT 
	17 MONTHS TO JULY 2005 

	 	 	PERIOD FIGURES 	YEAR TO DATE 
	  	 	  	 	 	  	 	 	  	 	PREVIOUS MONTH 
	  	 	JULY 2005 	 	 	JUNE 2005 	 	 	VARIANCE 	 	 	JULY 2005 	 	 	JUNE 2005 	 	 	VARIANCE 	 
	  		£ 	 		£	 		£	 		£	 		£	 		£	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	ADMINISTRATIVE EXPENSES 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	Directors Salaries + Er's NIC 	 	4,060 	 	 	3,243 	 	 	817 	 	 	48,263 	 	 	44,203 	 	 	4,060 	 
	Advertising & PR 	 	(1,748	) 	 	0 	 	 	(1,748	) 	 	7,243 	 	 	8,991 	 	 	(1,748	) 
	Rent & Service Charges 	 	0 	 	 	500 	 	 	(500	) 	 	7,000 	 	 	7,000 	 	 	0 	 
	Motor Expenses 	 	0 	 	 	0 	 	 	0 	 	 	185 	 	 	185 	 	 	0 	 
	Light & Heat 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 
	Telephone 	 	0 	 	 	0 	 	 	0 	 	 	243 	 	 	243 	 	 	0 	 
	Accountancy & Bookkeeping Fees 	 	14,300 	 	 	400 	 	 	13,900 	 	 	19,900 	 	 	5,600 	 	 	14,300 	 
	Legal & Professional Fees 	 	0 	 	 	100 	 	 	(100	) 	 	1,400 	 	 	1,400 	 	 	0 	 
	Consultancy Fees 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 
	Sundry Expenses 	 	0 	 	 	0 	 	 	0 	 	 	512 	 	 	512 	 	 	0 	 
	Website Design 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 
	Subcontractors 	 	0 	 	 	0 	 	 	0 	 	 	275 	 	 	275 	 	 	0 	 
	Printing, post and stationery 	 	0 	 	 	0 	 	 	0 	 	 	21 	 	 	21 	 	 	0 	 
	Travel and entertainment 	 	6 	 	 	0 	 	 	6 	 	 	115 	 	 	109 	 	 	6 	 
	Computer Costs & Maintenance 	 	0 	 	 	350 	 	 	(350	) 	 	3,484 	 	 	3,484 	 	 	0 	 
	Bank Charges & Interest 	 	12 	 	 	0 	 	 	12 	 	 	36 	 	 	24 	 	 	12 	 
	Subscriptions 	 	0 	 	 	0 	 	 	0 	 	 	80 	 	 	80 	 	 	0 	 
	Management Charge 	 	1,000 	 	 	0 	 	 	1,000 	 	 	1,000 	 	 	0 	 	 	1,000 	 
	Entertainment 	 	17 	 	 	0 	 	 	17 	 	 	108 	 	 	91 	 	 	17 	 
	Donations 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 	 	0 	 
	Depreciation 	 	60 	 	 	51 	 	 	9 	 	 	675 	 	 	615 	 	 	60 	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	  	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 
	  	 	17,707
    	 	 	4,644
    	 	 	13,063
    	 	 	90,540
    	 	 	72,833
    	 	 	17,707
    	 

	MAGENTA NEW MEDIA LIMITED 
	PROFIT AND LOSS ACCOUNT 
	17 MONTHS TO JULY 2005 

	 	 	PERIOD FIGURES 		YEAR
      TODATE 
		 	 	  	 	 	  	 	 	  	 	  	PREVIOUS MONTH 
	  	 	 	JULY 2005 	 	 	JUNE 2005 	 	 	VARIANCE 	 	  	 	JULY 2005 	 	 	JUNE 2005 	 	 	VARIANCE 	 
	  	 		£ 	 		£	 		£	 			£ 	 		£	 		£	 
	INCOME 	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	Income 	 	 	0 	 	 	0 	 	 	0 	 	  	 	411 	 	 	411 	 	 	0 	 
	Interest Received 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Introducer Fees 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Revenue Share Commission 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	  	 	 	0 	 	 	0 	 	 	0 	 	  	 	411 	 	 	411 	 	 	0 	 
	COST OF SALES 	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	Opening stock 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Marketing & Sales Support 	 	 	0 	 	 	1,000 	 	 	(1,000	) 	  	 	14,058 	 	 	14,058 	 	 	0 	 
	Material Purchases 	 	 	0 	 	 	0 	 	 	0 	 	  	 	4,342 	 	 	4,342 	 	 	0 	 
	Development Costs 	 	 	0 	 	 	0 	 	 	0 	 	  	 	6,700 	 	 	6,700 	 	 	0 	 
	  	 	 	0 	 	 	1,000 	 	 	(1,000	) 	  	 	25,099 	 	 	25,099 	 	 	0 	 
	Less: Closing stock 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	  	 	 	0 	 	 	1,000
    	 	 	(1,000	) 	  	 	25,099
    	 	 	25,099
    	 	 	0 	 
	GROSS PROFIT 	 	 	0 	 	 	(1,000	) 	 	1,000 	 	  	 	(24,689	) 	 	(24,689	) 	 	0 	 
		 % 	 	#DIV/0! 	 	 	  	 	 	#DIV/0! 	 	% 	 	-6013.13% 	 	 	  	 	 	#DIV/0! 	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	ADMINISTRATIVE EXPENSES 	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	Directors Salaries + Er's NIC 	 	 	4,060 	 	 	3,243 	 	 	817 	 	  	 	48,263 	 	 	44,203 	 	 	4,060 	 
	Advertising & PR 	 	 	(1,748	) 	 	0 	 	 	(1,748	) 	  	 	7,243 	 	 	8,991 	 	 	(1,748	) 
	Rent & Service Charges 	 	 	0 	 	 	500 	 	 	(500	) 	  	 	7,000 	 	 	7,000 	 	 	0 	 
	Motor Expenses 	 	 	0 	 	 	0 	 	 	0 	 	  	 	185 	 	 	185 	 	 	0 	 
	Light & Heat 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Telephone 	 	 	0 	 	 	0 	 	 	0 	 	  	 	243 	 	 	243 	 	 	0 	 
	Accountancy & Bookkeeping Fees 	 	 	14,300 	 	 	400 	 	 	13,900 	 	  	 	19,900 	 	 	5,600 	 	 	14,300 	 
	Legal & Professional Fees 	 	 	0 	 	 	100 	 	 	(100	) 	  	 	1,400 	 	 	1,400 	 	 	0 	 
	Consultancy Fees 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Sundry Expenses 	 	 	0 	 	 	0 	 	 	0 	 	  	 	512 	 	 	512 	 	 	0 	 
	Website Design 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Subcontractors 	 	 	0 	 	 	0 	 	 	0 	 	  	 	275 	 	 	275 	 	 	0 	 
	Printing, post and stationery 	 	 	0 	 	 	0 	 	 	0 	 	  	 	21 	 	 	21 	 	 	0 	 
	Travel and entertainment 	 	 	6 	 	 	0 	 	 	6 	 	  	 	115 	 	 	109 	 	 	6 	 
	Computer Costs & Maintenance 	 	 	0 	 	 	350 	 	 	(350	) 	  	 	3,484 	 	 	3,484 	 	 	0 	 
	Bank Charges & Interest 	 	 	12 	 	 	0 	 	 	12 	 	  	 	36 	 	 	24 	 	 	12 	 
	Subscriptions 	 	 	0 	 	 	0 	 	 	0 	 	  	 	80 	 	 	80 	 	 	0 	 
	Management Charge 	 	 	1,000 	 	 	0 	 	 	1,000 	 	  	 	1,000 	 	 	0 	 	 	1,000 	 
	Entertainment 	 	 	17 	 	 	0 	 	 	17 	 	  	 	108 	 	 	91 	 	 	17 	 
	Donations 	 	 	0 	 	 	0 	 	 	0 	 	  	 	0 	 	 	0 	 	 	0 	 
	Depreciation 	 	 	60 	 	 	51 	 	 	9 	 	  	 	675 	 	 	615 	 	 	60 	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	  	 	 	17,707
    	 	 	4,644
    	 	 	13,063
    	 	  	 	90,540
    	 	 	72,833
    	 	 	17,707
    	 
	  	 	 	  	 	 	  	 	 	  	 	  	 	  	 	 	  	 	 	  	 
	NET PROFIT/(LOSS) FOR THE PERIOD 	 	 	(17,707	) 	 	(5,644	) 	 	(12,063	) 	  	 	(115,229	) 	 	(97,522	) 	 	(17,707	) 

	MAGENTA NEW MEDIA LIMITED 
	BALANCE SHEET 
	AS AT 31 JULY 2005 

	  	 	JULY 2005 	 	 	 	 	 	 	  	 	 
	  		£	 		£	 	 		£	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	FIXED ASSETS 	 	  	 	 	 	 	 	 	  	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	Tangible assets 	 		 	 	9,391  	 	 	 	7,184 	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	CURRENT ASSETS 	 	  	 	 	 	 	 	 	  	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	Stock 	 	0 	 	 	 	 	 	 	  	 	 
	Trade Debtors 	 	482 	 	 	 	 	 	 	  	 	 
	Outlander Management Charges Provision
    	 	10,000 	 	 	 	 	 	 	  	 	 
	VAT refund due 	 	9,587 	 	 	 	 	 	 	  	 	 
	Unpaid Share Capital 	 	0 	 	 	 	 	 	 	  	 	 
	Prepayments 	 	1,748 	 	 	 	 	 	 	  	 	 
	Cash In Trust 	 	24,178 	 	 	 	 	 	 	  	 	 
	  	 	45,995
    	 	 	 	 	 	 	  	 	 
	due within one year 	 	  	 	 	 	 	 	 	  	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	Trade creditors 	 	39,355 	 	 	 	 	 	 	  	 	 
	PAYE / NI 	 	1,206 	 	 	 	 	 	 	  	 	 
	Accruals 	 	14,300 	 	 	 	 	 	 	  	 	 
	Cnet Provision for Charges 	 	0 	 	 	 	 	 	 	  	 	 
	Loan fron Outlander Management 	 	53,937 	 	 	 	 	 	 	  	 	 
	Net Wages 	 	0 	 	 	 	 	 	 	  	 	 
	  	 	108,798 	 	 	 	 	 	 	  	 	 
	NET CURRENT ASSETS 	 	 	 	 	(62,803	) 	 	 	#REF! 	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	CREDITORS - amounts falling 	 	  	 	 	 	 	 	 	  	 	 
	due after more than one year 	 	 	 	 	(53,450	) 	 	 	0 	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	  	 	 	 	 	(106,862	) 	 	 	#REF! 	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	CAPITAL AND RESERVES 	 	  	 	 	 	 	 	 	  	 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	Ordinary Share Capital 	 		 	 	8,367  	 	 	 	1 	 	 
	Reserves 	 	 	 	 	(97,522	) 	 	 	(91,878	) 	 
	Profit and loss account 	 	 	 	 	(17,707	) 	 	 	(5,644	) 	 
	  	 	  	 	 	 	 	 	 	  	 	 
	  	 	 	 	 	(106,862	) 	 	 	(97,521	) 	 

	MAGENTA NEW MEDIA LIMITED 
	NOTES 
	AS AT 31 JULY 2005 

	  	 	JULY 2005 	 	 
	  		£ 	 	 
	Trade Debtors 	 	  	 	 
	Trade Debtors 	 	482 	 	 
	  	 	482
    	 	 
	Other Debtors: 	 	  	 	 
	VAT 	 	9,587 	 	 
	Unpaid Share Capital 	 	0 	 	 
	Cash In Trust 	 	24,178 	 	 
	Outlander Management Charges Provision
    	 	10,000 	 	 
	  	 	43,765 	 	 
	  	 	  	 	 
	  	 	  	 	 
	Trade creditors 	 	  	 	 
	Joseph Novak 	 	4,500 	 	 
	Chameleon PR 	 	0 	 	 
	Columbiz 	 	0 	 	 
	Outlander Management 	 	36,887 	 	 
	  	 	41,387 	 	 
	  	 	  	 	 
	Long-Term Creditors 	 	  	 	 
	Loan from ABS Global Capital 	 	53,450 	 	 
	  	 	53,450 	 	 

SCHEDULE "C"

TO THE SHARE EXCHANGE AGREEMENT
DATED AUGUST 20, 2005

THE COMPANY GROUP ASSETS AND MATERIAL CONTRACTS

Machinery and Equipment (see 1.1(h)): 

LapTop – Acer TravelMate 291LMi 

Bank Accounts and Safety Deposit Boxes: 

Bank Name xxxx 
Bank Address xxxx
A/c Number
xxxxxxxx
Sort Code xx-xx-xx
IBAN xxxxxx 

Inventory: 

Nil 

Intellectual Property: 

Nil 

Real Property: 

None 

Customer Lists: 

London Lodge
Hotel InfraBlue Ltd
Nearline 

Insurance Policies: 

None 

Material Contracts 

An Agency Exploitation
Agreement dated 30th March 2004 between Magenta New Media Ltd. and
Zacan Holdings Inc, ICT/Europetec Limited, MIR Technologies LLC, and HBI Sales
Private 

- 2 -

Limited. Zacan Holdings Inc,
ICT/Europetec Limited, MIR Technologies LLC, and HBI Sales Private Limited
whereby Magenta New Media Limited was granted the rights to exploit the New
Media technology held under licenses granted to Zacan ICT/Europetec, MIR and HBI
by ABS Global Capital Inc. on September 12, 2003.

A Loan Agreement dated 4th
October 2004 between Magenta New Media Limited and ABS Global Capital Inc.
whereby ABS Global Capital Inc. would provide a loan facility of up to £150,000
to Magenta New Media Limited repayable on or before April 1, 2007. 

A Debenture Agreement dated October 4,
2004 between Magenta New Media Limited and ABS Global Capital Inc. evidencing
the indebtedness of Magenta New Media Limited under the Loan Agreement.

A Services Agreement dated September 6,
2004 between Magenta New Media Limited and Outlander Management for the
provision of services including office space, office services, legal support,
finance support, marketing and sales support, office stationary, and meeting
room facilities for a fee of £2,000 + VAT per month.

A Public Relations Services Agreement
dated March 15, 2004 between Magenta New Media Limited and Chameleon PR whereby
Chameleon PR was contracted to facilitate a media launch of the Magenta’s WGE
System for a fee of £800 per month plus costs.

A Content Licence Agreement dated
December 1st, 2004 between Magenta New Media Limited and TV Group
Limited whereby TV Group Limited will supply Magenta with content to be
distributed within hotels in return for a revenue share of 15% to be paid to TV
Group Limited by Magenta. 

The following are the Material Contracts in default:

None 

The following are the "Permitted Encumbrances" on the
Assets: 

None 

- 3 -

SCHEDULE "D"

TO THE SHARE EXCHANGE AGREEMENT
DATED AUGUST 20, 2005

Directors, Officers and Key Employees
of the
Company 

	1. 	THE COMPANY

	

Name and Address 	

Position 	Compensation 
Arrangements
      
(include base compensation 
plus pensions, profit
      
sharing, insurance plans 
etc.) 
	
Nathan Amery 	
Managing Director 	
£35,000 per annum

SCHEDULE "E"

TO THE SHARE EXCHANGE AGREEMENT
DATED AUGUST 20, 2005

LIST OF MATERIAL AGREEMENTS OF THE PURCHASER

Material Agreements: 

None 

The following are the Material Agreements in
default: 

NIL 

The following are the Material Agreements that cannot be
terminated on 30 days' notice: 

NIL

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}]]