Document:

EXHIBIT 10.3

                                                                    CONFIDENTIAL
                                                              September 15, 2005

                             XENACARE HOLDINGS, INC.
                             (a Florida corporation)

                               EXECUTION DOCUMENTS

________________________________________________________________________________

                                 US $10,000,000
               5,000,000 Shares of Common Stock at $2.00 per Share

                Units consisting of 10,000 shares of Common Stock
                      Minimum Investment: $10,000 (1 Unit)

                             XENACARE HOLDINGS, INC.
                        7700 Congress Avenue, Suite 3208
                            Boca Raton, Florida 33487
                                 (561) 999-9972

<PAGE>
                             SUBSCRIPTION DOCUMENTS

INSTRUCTION SHEET.............................................................1

SUBSCRIPTION AGREEMENT........................................................6

SPECIAL EXECUTION PAGE FOR SUBSCRIPTION BY AN ENTITY.........................13

PURCHASER'S STATEMENT........................................................14

PURCHASER REPRESENTATIVE'S CERTIFICATE.......................................16

<PAGE>
                                INSTRUCTION SHEET

                             XENACARE HOLDINGS, INC.
                             (a Florida corporation)

                                 US $10,000,000
                        5,000,000 Shares of Common Stock

                Units consisting of 10,000 shares of Common Stock
                      Minimum Investment: $10,000 (1 Unit)

1.       Each Investor should be given a copy of the Execution Documents, which
         each Investor should complete and return to Xenacare Holdings, Inc.,
         7700 Congress Avenue, Suite 3208, Boca Raton, Florida 33487: Chief
         Executive Officer.

2.       Each Investor who meets one of the enumerated categories of "Accredited
         Investor," as such term is defined in Regulation D under the United
         States Securities Act of 1933, as amended, should be given a copy of
         the Subscription Documents, including the Subscription Agreement.

3.       If an Investor has a Purchaser Representative, the Investor should also
         be given a copy of the Purchaser Representative's Certificate.

4.       IF AN INVESTOR DECIDES TO INVEST IN THE COMPANY, THE INVESTOR SHOULD:

                  A.       Complete, sign and date the CONFIDENTIAL PURCHASER
                           QUESTIONNAIRE;

                  B.       Complete, sign and date the SUBSCRIPTION AGREEMENT.
                           If the Investor is a corporation, partnership or
                           trust, the Investor should complete, sign and date
                           the SPECIAL EXECUTION PAGE FOR SUBSCRIPTION BY AN
                           ENTITY;

                  C.       Complete, sign and date the PURCHASER STATEMENT;

                  D.       If using a Purchaser Representative, the Investor
                           should have the Purchaser Representative complete,
                           sign and date the PURCHASER REPRESENTATIVE
                           CERTIFICATE;

                  E.       Draw a check in the amount of the investment, subject
                           to a minimum investment of US $10,000, unless agreed
                           otherwise, payable to "XenaCare Holdings, Inc." and
                           reference the Investor's name. Alternatively, funds
                           can be wired into Xenacare Holdings, Inc.'s account
                           as follows:

                           Wire Instructions

                           BANK:                Washington Mutual
                           BANK ADDRESS:        6464 Atlantic Avenue
                                                Delray Beach, FL  33484
                           ABA NUMBER:          267084131
                           FOR BENEFIT OF:      XenaCare Holdings, Inc.
                           ACCOUNT NUMBER:      185 488 0242
                           REFERENCE:           Subscription for Common Stock

                                       1
<PAGE>

5.       The completed materials, together with your check (if funds have not
been wired), should be delivered to:

                          ATTN: Chief Executive Officer
                             Xenacare Holdings, Inc.
                        7700 Congress Avenue, Suite 3208
                            Boca Raton, Florida 33487
                                 (561) 999-9972

                                       2
<PAGE>
                      CONFIDENTIAL PURCHASER QUESTIONNAIRE

                             Xenacare Holdings, Inc.
                             (a Florida corporation)

         The purpose of this Questionnaire is to determine whether you are an
"Accredited Investor," as such term is defined under the United States
Securities Act of 1933, as amended (the "Act"), and Regulation D, promulgated
thereunder.

(1)      Name:                  ________________________________________________

(2)      Address:

         (a)      Home:         ________________________________________________

                                ________________________________________________

                  Telephone:    ________________________________________________

         (b)      Business:     ________________________________________________

                                ________________________________________________

                  Telephone:    ________________________________________________

(3)      Social Security Number or Federal Tax Identification Number: __________

(4)      Occupation or Principal Business: _____________________________________

(5)      Age:     ________

(6)      The following information is required to ascertain whether you would be
         deemed an Accredited Investor, as such term is defined in Rule 501 of
         Regulation D, promulgated under the Act. Please check whether you are
         any of the following:

         (a)      Any bank as defined in Section 3(a)(2) of the Act, or any
                  savings and loan association or other institution as defined
                  in Section 3(a)(5)(A) of the Act whether acting in its
                  individual or fiduciary capacity; any broker or dealer
                  registered pursuant to Section 15 of the Securities Exchange
                  Act of 1934; any insurance company as defined in Section 2(13)
                  of the Act; any investment company registered under the
                  Investment Company Act of 1940 or a business development
                  company as defined in Section 2(a)(48) of that Act; any Small
                  Business Investment Company licensed by the U.S. Small
                  Business Administration under Section 301(c) or (d) of the
                  Small Business Investment Act of 1958; any plan established
                  and maintained by a state or its political subdivisions, or
                  any agency or instrumentality of a state or its political
                  subdivisions, for the benefit of its employees, if such plan
                  has total assets in excess of $5,000,000; any employee benefit
                  plan within the meaning of the Employee Retirement Income
                  Security Act of 1974, if the investment decision is made by a
                  plan fiduciary, as defined in Section 3(21) of such Act, which
                  is either a bank, savings and loan association, insurance
                  company, or registered investment adviser, or if the employee
                  benefit plan has total assets in excess of $5,000,000 or, if a

                                       3
<PAGE>

                  self-directed plan, with investment decisions made solely by
                  persons that are Accredited Investors;

                                          Yes ________              No ________

         (b)      Any private business development company as defined in Section
                  202(a)(22) of the Investment Advisers Act of 1940;

                                          Yes ________              No ________

         (c)      Any organization described in Section 501(c)(3) of the
                  Internal Revenue Code, corporation, Massachusetts or similar
                  business trust, or partnership, not formed for the specific
                  purpose of acquiring the securities offered, with total assets
                  in excess of $5,000,000;

                                          Yes ________              No ________

         (d)      Any director, executive officer, or general partner of the
                  issuer of the securities being offered or sold, or a director,
                  executive officer, or general partner of a general partner of
                  that issuer;

                                          Yes ________              No ________

         (e)      Any natural person whose individual net worth, or joint net
                  worth with your spouse, at the time of your purchase exceeds
                  $1,000,000;

                                          Yes ________              No ________

         (f)      Any natural person who had an individual income in excess of
                  $200,000 in each of the two most recent years or joint income
                  with your spouse in excess of $300,000 in each of those years
                  and has a reasonable expectation of reaching the same income
                  level in the current year;

                                          Yes ________              No ________

         (g)      Any trust, with total assets in excess of $5,000,000, not
                  formed for the specific purpose of acquiring the securities
                  offered, whose purchase is directed by a sophisticated person,
                  as described in Regulation D; or

                                          Yes ________              No ________

         (h)      Any entity in which all of the equity owners are Accredited
                  Investors.

                                          Yes ________              No ________

(7)      Investment, business, and educational experience:

         (a)      Educational background: ______________________________________

                  ______________________________________________________________

                                       4
<PAGE>

         (b)      Principal employment positions held during last five years:
                  ______________________________________________________________

                  ______________________________________________________________

                  ______________________________________________________________

                  ______________________________________________________________

                  ______________________________________________________________

         (c)      Frequency of prior investment (check one in each column):

                                   Stocks & Bonds    Venture Capital Investments

                  Frequently       ______________    ___________________________

                  Occasionally     ______________    ___________________________

                  Never            ______________    ___________________________

(8)      Do you believe you have sufficient knowledge and experience in
         financial and business matters generally to be capable of evaluating
         the merits and risks of this investment and, if so, please also sign
         the Investor's Statement.

                                          Yes ________              No ________

I represent that the foregoing information is true, complete and correct.

Dated: ___________________________

                                           _____________________________________
                                           Name of Investor (Please Print)

                                           _____________________________________
                                           Signature of Investor

                                       5
<PAGE>
                             SUBSCRIPTION AGREEMENT

TO:      XENACARE HOLDINGS, INC.
         7700 Congress Avenue, Suite 3208
         Boca Raton, Florida 33487

         The Undersigned is writing to advise you of the following terms and
conditions under which the Undersigned hereby offers to subscribe for Units of
our securities, each Unit consisting of 10,000 shares of the Common Stock of
Xenacare Holdings, Inc. (the "Company"). The Company may, in its sole
discretion, accept subscriptions for fractional Units. Pursuant to the terms of
its Confidential Private Placement dated September 15, 2005 (the "Memorandum"),
the Company is offering for sale to accredited investors who meet the
suitability standards for investors described herein, Units consisting of 10,000
shares of its Common Stock, par value $0.001 per share (the "Securities" or
"Common Shares") for a maximum offering of 500 Units or 5,000,000 Common Shares
(the "Offering") on a "best efforts" basis. The purchase price is $2.00 per
Share with a minimum investment of $10,000 (1 Unit).

         The purchase price is payable in cash, bank draft, wire or check,
payable in United States dollars to Xenacare Holdings, Inc. upon subscription.

         1.       Subscription.

                  Subject to the terms and conditions hereinafter set forth in
this Subscription Agreement, the Undersigned hereby offers to purchase
______________ Units for an aggregate purchase price of $_______________. The
minimum subscription is one (1) Unit consisting of 5,000 shares or $10,000.

                  Fractional Units may be sold at the Company's discretion;
however, the Company will not offer fractional Shares. The Company is not
accepting Subscriptions subject to a minimum or maximum and may, in its sole
discretion, accept Subscriptions for more or less than the 5,000 Common Shares.

                  The subscription period will begin as of September 15, 2005
and will terminate on the earlier of (i) the date of completion of the Offering;
or (ii) December 15, 2005 (the "Closing Date"). The Company may extend the
Offering for up to 30 days. Such extension may be effected without notice to the
Subscribers.

                  All subscriptions will be held in an interest bearing escrow
account. If the Offer is accepted, the Units shall be paid for by the delivery
of $_______________ by cash, check or money order payable to the order of
"Xenacare Holdings, Inc. FBO the Investors of the Common Stock Offering", which
is being delivered contemporaneously herewith.

         2.       Conditions to Offer.

                  The Offering is made subject to the following conditions: (i)
that the Company shall have the right to accept or reject this Offer, in whole
or in part, for any reason whatsoever; and (ii) that the Undersigned agrees to
comply with the terms of this Subscription Agreement and to execute and deliver
any and all further documents necessary to complete the transaction. Acceptance
of this Offer shall be deemed given by the countersigning of this Subscription
Agreement on behalf of the Company.

                                       6
<PAGE>

         3.       Specific State Legends.

                  FOR CALIFORNIA RESIDENTS ONLY: THE COMMISSIONER OF
CORPORATIONS OF THE STATE OF CALIFORNIA DOES NOT RECOMMEND OR ENDORSE THE
PURCHASE OF THESE SECURITIES. IT IS UNLAWFUL TO CONSUMMATE A SALE OR TRANSFER OF
THE SECURITIES OR ANY INTEREST THEREIN OR TO RECEIVE ANY CONSIDERATION WITHOUT
THE PRIOR CONSENT OF THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA
EXCEPT AS PERMITTED IN THE COMMISSIONER'S RULES.

                  FOR CONNECTICUT RESIDENTS ONLY: THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER SECTION 36 485 THE CONNECTICUT UNIFORM SECURITIES ACT AND,
THEREFORE, CANNOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF TO ANY PERSON OR
ENTITY UNLESS SUBSEQUENTLY REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE SECURITIES ACT OF THIS STATE, IF SUCH REGISTRATION IS REQUIRED,
OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.

                  FOR FLORIDA RESIDENTS ONLY: EACH FLORIDA RESIDENT WHO
SUBSCRIBES FOR THE PURCHASE OF SECURITIES HEREIN HAS THE RIGHT, PURSUANT TO
SECTION 517.061(11)(A)(5) OF THE FLORIDA SECURITIES ACT, TO WITHDRAW HIS
SUBSCRIPTION FOR THE PURCHASE AND RECEIVE A FULL REFUND OF ALL MONIES PAID
WITHIN THREE BUSINESS DAYS AFTER THE EXECUTION OF THE SUBSCRIPTION AGREEMENT OR
PAYMENT FOR THE PURCHASE HAS BEEN MADE, WHICHEVER IS LATER. WITHDRAWAL WILL BE
WITHOUT ANY FURTHER LIABILITY TO ANY PERSON. TO ACCOMPLISH THIS WITHDRAWAL, A
SUBSCRIBER NEED ONLY SEND A LETTER OR TELEGRAM TO THE COMPANY AT THE ADDRESS SET
FORTH IN THIS CONFIDENTIAL PRIVATE PLACEMENT INDICATING HIS INTENTION TO
WITHDRAW.

                  SUCH LETTER OR TELEGRAM SHOULD BE SET AND POSTMARKED PRIOR TO
THE END OF THE AFOREMENTIONED THIRD BUSINESS DAY. IT IS ADVISABLE TO SEND SUCH
LETTER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ENSURE THAT IT IS
RECEIVED AND ALSO TO EVIDENCE THE TIME IT WAS MAILED. IF THE REQUEST IS MADE
ORALLY, IN PERSON OR BY TELEPHONE TO AN OFFICER OF THE COMPANY, A WRITTEN
CONFIRMATION THAT THE REQUEST HAS BEEN RECEIVED SHOULD BE REQUESTED.

                  FOR NEW JERSEY RESIDENTS ONLY: THIS CONFIDENTIAL PRIVATE
OFFERING MEMORANDUM HAS NOT BEEN FILED WITH OR REVIEWED BY THE ATTORNEY GENERAL
OF THE STATE OF NEW JERSEY PRIOR TO ITS ISSUANCE AND USE. THE ATTORNEY GENERAL
OF NEW JERSEY HAS NOT PASSED ON OR ENDORSED THE MERITS OF THIS OFFERING. ANY
REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

                  FOR NEW YORK RESIDENTS ONLY: THIS CONFIDENTIAL PRIVATE
OFFERING MEMORANDUM HAS NOT BEEN REVIEWED BY THE ATTORNEY GENERAL OF THE STATE
OF NEW YORK PRIOR TO ITS ISSUANCE AND USE. THE ATTORNEY GENERAL OF THE STATE OF
NEW YORK HAS NOT PASSED ON OR ENDORSED THE MERITS OF THIS OFFERING. ANY
REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

                  FOR TEXAS RESIDENTS ONLY: THE SHARES THAT ARE THE SUBJECT OF
THE CONFIDENTIAL MEMORANDUM HAVE NOT BEEN REGISTERED UNDER THE TEXAS SECURITIES
ACT OF 1957, OR ANY OTHER SECURITIES ACT AND MAY NOT BE RESOLD OR TRANSFERRED

                                       7
<PAGE>

EXCEPT IN A TRANSACTION THAT IS EXEMPT UNDER THAT ACT OR PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THAT ACT OR IN A TRANSACTION THAT IS
OTHERWISE IN COMPLIANCE WITH THE ACT.

                  FOR RESIDENTS OF ALL STATES: THE UNITS OFFERED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES
LAWS OF CERTAIN STATES AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS
FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE INTERESTS ARE
SUBJECT IN VARIOUS STATES TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY
NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER SAID ACT AND SUCH LAWS
PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE UNITS HAVE NOT BEEN
APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE
SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE
FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE
ACCURACY AND ADEQUACY OF THE CONFIDENTIAL PRIVATE OFFERING MEMORANDUM. ANY
REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

         4.       Undersigned's Representations and Warranties.

                  The Undersigned represents and warrants that:

                  a. Investment Purpose. The Undersigned is acquiring the Common
Shares for the Undersigned's own account for investment only and not with a view
towards, or for resale in connection with, the public sale or distribution
thereof, except pursuant to sales registered or exempted under the Securities
Act of 1933, as amended (the "1933 Act").

                  b. Accredited Investor Status. The Undersigned is an
"accredited investor" as that term is defined in Rule 501(a) of Regulation D.
The Undersigned represents that the Undersigned (i) has adequate means of
providing for the Undersigned's current financial needs and possible personal
contingencies and has no need for liquidity of investment in the Company; (ii)
can afford (a) to hold unregistered securities for an indefinite period of time
as required; and (b) sustain a complete loss of the entire amount of the
subscription; and (iii) has not made an overall commitment to investments which
are not readily marketable which is disproportionate so as to cause such overall
commitment to become excessive.

                  c. Reliance on Exemptions. The Undersigned understands that
the Securities are being offered and sold to it in reliance on specific
exemptions from the registration requirements of United States Federal and state
securities laws and that the Company is relying in part upon the truth and
accuracy of, and the Undersigned's compliance with, the representations,
warranties, agreements, acknowledgments and understandings of the Undersigned
set forth herein in order to determine the availability of such exemptions and
the eligibility of the Undersigned to acquire such Securities.

                  d. Information. The Company has not made any other
representations or warranties to the Undersigned with respect to the Company or
rendered any investment advice. The Undersigned acknowledges that he has not
been provided with any offering literature or other documentation on the Company
other than the Memorandum. The Undersigned has been furnished with all materials
relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by
the Undersigned. The Undersigned has been afforded the opportunity to ask
questions of the Company. Neither such inquiries nor any other due diligence
investigations conducted by the Undersigned or the Undersigned's representatives
shall modify, amend or affect the Undersigned's right to rely on the Company's

                                       8
<PAGE>

representations and warranties contained in this Subscription Agreement. The
Undersigned understands that the Undersigned's investment in the Securities
involves a high degree of risk.

                  e. No Governmental Review. The Undersigned understands that no
United States federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of the Securities
or the fairness or suitability of the investment in the Securities nor have such
authorities passed upon or endorsed the merits of the offering of the
Securities.

                  f. Transfer or Resale. The Undersigned understands that except
as otherwise provided herein: (i) the Securities have not been and are not being
registered under the 1933 Act or any state securities laws, and may not be
offered for sale, sold, assigned or transferred unless (A) subsequently
registered thereunder, (B) the Undersigned shall have delivered to the Company
an opinion of counsel, in a form reasonably satisfactory to the Company, to the
effect that such Securities may be sold, assigned or transferred pursuant to an
exemption from such registration, or (C) the Undersigned provides the Company
with reasonable assurance that such Securities can be sold, assigned or
transferred pursuant to Rule 144 promulgated under the 1933 Act (or a successor
rule thereto) ("Rule 144"); (ii) any sale of the Securities made in reliance on
Rule 144 may be made only in accordance with the terms of Rule 144 and further,
if Rule 144 is not applicable, any resale of the Securities under circumstances
in which the seller (or the person through whom the sale is made) may be deemed
to be an underwriter (as that term is defined in the 1933 Act) may require
compliance with some other exemption under the 1933 Act or the rules and
regulations of the SEC thereunder; and (iii) neither the Company nor any other
person is under any obligation to register such Securities under the 1933 Act or
any state securities laws or to comply with the terms and conditions of any
exemption thereunder.

                  g. Legends. The Undersigned understands that, except as set
forth below, the certificates or other instruments representing the Common
Shares and the stock certificates representing the Common Shares shall bear a
restrictive legend in substantially the following form (and a stop transfer
order may be placed against transfer of such stock certificates):

                  "The securities represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended (the
                  "Act"), or applicable state securities laws. Such securities
                  have been acquired for investment and may not be offered for
                  sale, sold, transferred or assigned in the absence of an
                  effective registration statement or an opinion of counsel, in
                  a form reasonably satisfactory to the Issuer, that
                  registration is not required under said Act or applicable
                  state securities laws or unless sold pursuant to Rule 144
                  under said Act."

                  h. Foreign Subscriber. If the Undersigned is not a United
States person, the Undersigned hereby represents that it has satisfied itself as
to the full observance of the laws of its jurisdiction in connection with any
invitation to subscribe for the securities comprising the Units or any use of
this Subscription Agreement, including (i) the legal requirements within its
jurisdiction for the purchase of the Units, (ii) any foreign exchange
restrictions applicable to such purchase, (iii) any governmental or other
consents that may need to be obtained, and (iv) the income tax and other tax
consequences, if any, that may be relevant to the purchase, holding, redemption,
sale or transfer of the securities comprising the Units. Undersigned's
subscription and payment for, and his or her continued beneficial ownership of
the Units, will not violate any applicable securities or other laws of the
Undersigned's jurisdiction.

                  i. Purchaser Representative. If the Undersigned has authorized
any person or institution to act as his Purchaser Representative (as that term

                                       9
<PAGE>

is defined in Regulation D of the General Rules and Regulations under the Act)
in connection with this transaction, said Undersigned shall complete and deliver
a "Purchaser Representative's Certificate" to the Company along with this
Subscription Agreement.

         5.       Indemnification.

                  The Undersigned understands that the Units acquired as a
result of the subscription right provided in Section 1 hereof are being offered
without registration under the Act and applicable state securities laws and in
reliance upon the exemption for transactions by the Company not involving any
public offering; that the availability of such exemption is, in part, dependent
upon the truthfulness and accuracy of the representations made by the
Undersigned herein; that the Company will rely on such representations in
accepting any subscriptions for the Units and that the Company may take such
steps as it considers reasonable to verify the accuracy and truthfulness of such
representations in advance of accepting or rejecting the Undersigned's
subscription. The Undersigned agrees to indemnify and hold harmless the Company
against any damage, loss, expense or cost, including reasonable attorneys' fees,
sustained as a result of any misstatement or omission on the Undersigned's part.

         6.       No Waiver.

                  Notwithstanding any of the representations, warranties,
acknowledgments or agreements made herein by the Undersigned, the Undersigned
does not thereby or in any manner waive any rights granted to the Undersigned
under federal or state securities laws.

         7.       Revocation.

                  The Undersigned agrees that the Undersigned shall not cancel,
terminate or revoke this Subscription Agreement or any agreement of the
Undersigned made hereunder other than as set forth under Section 6 above, and
that this Subscription Agreement shall survive the death or disability of the
Undersigned.

         8.       Termination of Subscription Agreement.

                  If the Company elects to cancel this Subscription Agreement,
provided that it returns to the Undersigned, without interest and without
deduction, all sums paid by the Undersigned, this offer shall be null and void
and of no further force and effect, and no party shall have any rights against
any other party hereunder.

         9.       Notices.

                  All notices or other communications given or made hereunder
shall be in writing and shall be mailed by registered or certified mail, return
receipt requested, postage prepaid, to the Undersigned at the Undersigned's
address as set forth in the "Purchaser Questionnaire" and to Xenacare Holdings,
Inc., 7700 Congress Avenue, Suite 3208, Boca Raton, Florida 33487.

         10.      Entire Agreement.

                  This Subscription Agreement constitutes the entire agreement
among the parties hereto with respect to the subject matter hereof and may be
amended only by a writing executed by all parties. The provisions of this
Subscription Agreement shall survive the execution thereof.

                                       10
<PAGE>

         11.      Certification.

                  The Undersigned certifies that the Undersigned has read this
entire Subscription Agreement and that every statement on the Undersigned's part
made and set forth herein is true and complete.

                            [signature page follows]

                                       11
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THE UNDERSIGNED, BY SIGNING BELOW, FURTHER REPRESENTS AND WARRANTS THAT THE
UNDERSIGNED HAS RECEIVED THE PRIVATE PLACEMENT DATED AND ALL OF THE SUBSCRIPTION
DOCUMENTS (WHICH ARE COMPRISED OF THE INSTRUCTION SHEET, PURCHASER'S STATEMENT,
PURCHASER QUESTIONNAIRE, THIS SUBSCRIPTION AGREEMENT AND PURCHASER
REPRESENTATIVE'S CERTIFICATE), AND HAS REVIEWED THE PRIVATE PLACEMENT AND ALL OF
SUCH SUBSCRIPTION DOCUMENTS, AND ACKNOWLEDGES THE UNDERSIGNED'S AGREEMENT TO,
AND ACCEPTANCE OF, ALL OF THE TERMS, CONDITIONS AND REPRESENTATIONS AND
WARRANTIES CONTAINED IN THE PRIVATE PLACEMENT AND SUBSCRIPTION DOCUMENTS. THE
UNDERSIGNED HAS EXECUTED THIS SUBSCRIPTION AGREEMENT BY SIGNING IN THE SPACE
PROVIDED BELOW.

Dated: __________________                         ______________________________
                                                  Signature of Investor

The Common Shares are to be
issued in (check on box):
____ individual name                              ______________________________
                                                  Print Name of Investor

____ joint tenants with rights                    ______________________________
     of survivorship                              Print Name of Joint Investor
                                                  (if applicable)

____ tenants in the entirety

____ corporation or partnership
     (please submit the "Special Execution
     Page for Subscription by an Entity")

Number of Units Subscribed for:                   ______________________________

Number of Common Shares subscribed for:           ______________________________

Amount of check enclosed or amount wired:         US$___________________________
                                                  (Increments of $________)

AGREED AND ACCEPTED TO:

XENACARE HOLDINGS, INC.

By:___________________________________

Its: _________________________________

Date: ________________________________

                                       12
<PAGE>
              SPECIAL EXECUTION PAGE FOR SUBSCRIPTION BY AN ENTITY

                (Not Applicable To Subscriptions By Individuals)

         IN WITNESS WHEREOF, subject to acceptance by the Company, the
Undersigned has completed this Subscription Agreement to evidence its
subscription of Common Shares of Xenacare Holdings, Inc. on this _____ day of
________________, 2005.

Amount of Subscription:             US$__________________

_____ TRUST                         (Please include copy of trust agreement)

_____ CORPORATION                   (Attach certified corporate resolution
                                    authorizing  signature and a copy of the
                                    articles of incorporation)

_____ PARTNERSHIP                   (Attach copy of the partnership agreement)

    (Please print the following information exactly as you wish it to appear
                           on the Company's records.)

________________________________________________________________________________
Name of Subscriber

________________________________________________________________________________
Address

________________________________________________________________________________
Tax Identification Number                            Telephone Number

         The Undersigned trustee, partner or corporate officer certifies that
he/she or it has full power and authority from the beneficiaries, partners or
directors of the entity named below to execute this Subscription Agreement on
behalf of the entity and to make the representations and warranties made herein
on their behalf and that investment in the Company has been affirmatively
authorized by the governing board of such entity and is not prohibited by the
governing documents of the entity.

Dated: ____________________             ________________________________________
                                        Print Name of Entity

                                        By:_____________________________________
                                        Signature of authorized trustee, partner
                                        or corporate officer

                                        ________________________________________
                                        Print Name and Capacity

                                       13
<PAGE>
                              PURCHASER'S STATEMENT

TO:      XENACARE HOLDINGS, INC.:

         In connection with the proposed purchase of Common Stock (the "Common
Shares") of Xenacare Holdings, Inc., a Florida corporation (the "Company"), the
Undersigned represents that the Undersigned has sufficient knowledge and
experience in financial and business matters to be capable of evaluating the
merits and risks of such proposed investment. The Undersigned further
understands and acknowledges that such Common Shares are being offered only to
"Accredited Investors," as such term is defined under the United States
Securities Act of 1933, as amended (the "Act"), and the Undersigned further
represents that the Undersigned is an Accredited Investor.

         The Undersigned acknowledges that it understands the nature of the
investment in the Company, as represented by the Common Shares, and further
acknowledges and agrees that there are numerous risks inherent in connection
with such investment, including, without limitation, that the Company may not be
able to pay dividends when due, and that the Undersigned might have to bear the
complete economic loss of such investment. Accordingly, the Undersigned
represents and warrants that the Undersigned understands that an investment in
the Company is not free from risk.

         The Undersigned represents that the purchase of the Common Shares by
the Undersigned will be solely for the account of the Undersigned and not for
the account of any other person, is being made for investment purposes only, and
is not being made with a view towards the further resale or distribution
thereof. In addition, if the Undersigned is not an individual, the Undersigned
hereby represents and warrants that the Undersigned was not formed for the sole
purpose of investing in the Company and purchasing the Common Shares.

         The Undersigned further represents and warrants that the Undersigned is
acquiring the Common Shares pursuant to an exemption from the registration
requirements under the Act pursuant to Section 4(2) and Regulation D and,
accordingly, the Common Shares will be deemed restricted securities under the
Act. The Undersigned further represents and warrants that there is currently no
public market for the Common Shares, and that a public market may never develop
for the Common Shares or if developed, that any such public market would sustain
any level of trading in the future. The Undersigned further acknowledges that
the Common Shares are not transferable, and that the Shares cannot be
transferred, assigned, sold or otherwise disposed of, except in accordance with
applicable law and regulation. Accordingly, the Undersigned may have to hold the
Common Shares for an indefinite period of time.

         The Undersigned further represents and warrants that neither the
Company nor any of its officers, directors, advisors, employees, affiliates or
shareholders and/or any broker-dealers have made any representations or
warranties to the Undersigned with respect to the future performance of the
Company or its securities, including the Common Shares.

         The Undersigned acknowledges that it has been furnished any and all
materials relating to the Company and its activities, the offering of the Common
Shares or anything set forth in the Subscription Agreement, which the
Undersigned has reasonably requested, and further that the Company and its
Officers and Directors have answered all inquiries that the Undersigned has put
to them concerning the Company and its activities, including, without
limitation, the Company's financial condition and results or operations, or any
other matters relating to the Company and the offering and sale of the Common
Shares.

                                       14
<PAGE>

         The Undersigned further represents and warrants that the Company is
relying upon the Undersigned's representations and warranties in connection with
the issuance of the Common Shares, and that the Undersigned has the financial
sophistication, experience and business acumen necessary in order to evaluate
the investment in the Company represented by the issuance of the Common Shares.

         The Undersigned represents that the information contained in the
Purchaser Questionnaire, which has been completed by the Undersigned and
delivered to the Company, is true, correct and complete. In addition, the
Undersigned represents and warrants that the Undersigned has a sufficient
command of the English language to understand all of the Subscription Documents
and subscription materials being provided to the Undersigned in connection with
the Undersigned's purchase of Common Shares.

Date:____________________                 ______________________________________
                                          Name of Investor (Please Print)

                                          ______________________________________
                                          Signature of Investor

                                       15
<PAGE>
                     PURCHASER REPRESENTATIVE'S CERTIFICATE

         The Undersigned has been named by
_________________________________________ (the "Investor") as a person upon
whose advice the Investor has relied, or with whom the Investor has consulted,
in evaluating the merits and risks of investment in the Common Stock of Xenacare
Holdings, Inc., a Florida corporation (the "Company"), all as more fully
described in the Subscription Documents to which this Purchaser Representative's
Certificate is attached. In connection with this subscription by the Investor,
the Undersigned hereby represents and warrants as follows:

i.       The Undersigned is not an affiliate, director, officer or other
         employee of the Company, or the beneficial owner of ten percent (10%)
         or more of any class of equity securities or ten percent (10%) or more
         of the equity interest in any affiliate of such persons or of the
         Company.

ii.      Listed below are all material relationships (and any compensation
         received or to be received by the Undersigned or affiliates of the
         Undersigned as a result thereof) between the Undersigned (or any
         affiliates of the Undersigned) and the Company (or any affiliates
         thereof) which now exist, or which have existed at any time during the
         past two years, or which are now contemplated:

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________
                          (This item must be completed)

iii.     The Undersigned is primarily engaged in the following businesses or
         professions (such as, the conduct of business as a registered
         investment advisor, or a registered broker-dealer (or the
         representative of a registered broker-dealer), or the active practice
         of law or accountancy):

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________
                          (This item must be completed)

iv.      The Undersigned has previously invested in, or advised others with
         respect to investment in stocks, bonds, or venture capital
         transactions.

                                                   Yes ______          No ______

v.       The Undersigned has such knowledge and experience in financial and
         business matters that the Undersigned is capable of evaluating the
         merits and risks of investment in the Common Shares.

                                                   Yes ______          No ______

                                       16
<PAGE>

vi.      The Undersigned is familiar with the financial and tax position and
         plans of the Investor.

                                                   Yes ______          No ______

vii.     The Undersigned is receiving the following compensation (please
         indicate the amount and source of such compensation):

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

         _______________________________________________________________________

viii.    The Investor represents that the Investor is able to bear the economic
         risk of the proposed investment. In connection therewith, has Investor
         considered that Investor might have to hold the proposed investment for
         an extended period of time and might have to bear a complete economic
         loss of Investor's investment.

                                                   Yes ______          No ______

ix.      The purchase of the investment contemplated herein will be solely for
         the account of the Investor and not for the account of any other person
         and will not be made with a view to any resale or distribution thereof.

x.       The Investor and the Investor's Purchaser Representative each recognize
         that the investment contemplated herein is being offered in a manner
         that is intended to comply with the requirements of the laws and
         regulations of the United States, including Regulation D, promulgated
         under the Securities Act of 1933, as amended.

Dated: ____________________            _________________________________________
                                       Signature of Purchaser Representative

                                       _________________________________________
                                       Name of Purchaser Representative
                                       (Please Print)

                                       AGREED TO AND ACKNOWLEDGED BY:

Dated:  ___________________            _________________________________________
                                       Signature of Investor

                                       _________________________________________
                                       Name of Investor (Please Print)

                                       17Prepared and Filed by St Ives Financial

SECURITIES PURCHASE AGREEMENT

This Securities Purchase Agreement (this “Agreement”) is dated as of ___________, 2006 among Neutron Enterprises, Inc. a Nevada corporation (the “Company”), and the purchasers identified on the signature page hereto (individually, “Purchaser” and collectively, “Purchasers”).

WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(2) of the Securities Act (as defined below) the Company desires to issue and sell in a private placement transaction up to 4,000,000 units (each a “Unit”), at a purchase price of $2.00 per Unit. Each Unit consists of one share of Common Stock and one-half of a warrant (a “Warrant”) in the form attached as Exhibit A attached hereto. Each whole Warrant allows the holder thereof to purchase one share of Common Stock at a price of $2.50 per share,

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchasers agree as follows:

ARTICLE I.

DEFINITIONS

1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings indicated in this Section 1.1:

“Action” shall have the meaning ascribed to such term in Section 3.1(i).

“Affiliate” means any Person that, directly or indirectly, through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 144. With respect to a Purchaser, any investment fund or managed account that is managed on a discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser.

“Business Day” means any day except Saturday, Sunday and any day which shall be a federal legal holiday or a day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

“Closing” means the closing of the purchase and sale of the Common Stock and the Warrants pursuant to Section 2.1, on the date this Agreement is accepted by the Company, which shall be no later than January 31, 2007; provided that the Company may extend the Closing for an additional thirty days with consent of any Purchaser. At the Company’s election, the Company may have multiple Closings, each of which shall be a Closing hereunder.

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“Closing Date” means the date of the Closing.

“Commission” means the Securities and Exchange Commission.

“Common Stock” means the common stock of the Company, $0.001 par value per share, and any securities into which such common stock may hereafter be reclassified.

“Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

“Disclosure Schedules” means the Disclosure Schedules attached as Annex I hereto.

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

“Intellectual Property Rights” shall have the meaning ascribed to such term in Section 3.1(n).

“Liens” means a lien, charge, security interest, encumbrance, right of first refusal or other restriction.

“Material Adverse Effect” shall have the meaning ascribed to such term in Section 3.1(a).

“Material Permits” shall have the meaning ascribed to such term in Section 3.1(l).

 “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

“Per Unit Purchase Price” means $2.00.

-3-

 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

“SEC Reports” shall have the meaning ascribed to such term in Section 3.1(g).

“Securities” means the Shares, the Warrants and the Shares issuable upon exercise of the Warrant.

“Securities Act” means the Securities Act of 1933, as amended.

“Shares” means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement, including the Shares issuable upon exercise of the Warrants.

“Subscription Amount” means the amounts set forth below the Purchaser’s signature block on the signature page hereto, in United States dollars and in immediately available funds.

“Subsidiary” means a body corporate that:

	

 
 	

(a)
 	

is controlled by:
 

	

 
 	

(i)
 	

the Company;
 

	

 
 	

(ii)
 	

the Company and one or more bodies corporate, each of which is controlled by the Company; or
 

	

 
 	

(iii)
 	

two or more bodies corporate, each of which is controlled by the Company; or
 

	

 
 	

(b)
 	

is a Subsidiary of a body corporate that is a Subsidiary of the Company.
 

“Trading Day” means (i) a day on which the Common Stock is traded on a Trading Market, or (ii) if the Common Stock is not listed on a Trading Market, a day on which the Common Stock is traded on the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on the OTC Bulletin Board, a day on which the Common Stock is quoted in the over-the-counter market as reported by the National Quotation Bureau Incorporated (or any similar organization or agency succeeding to its functions of reporting prices); provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day.

-4-

 

“Trading Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the OTC Bulletin Board, the American Stock Exchange, the New York Stock Exchange, the Nasdaq National Market or the Nasdaq SmallCap Market.

“Transaction Documents” means this Agreement, the Warrants and any other documents or agreements executed in connection with the transactions contemplated hereunder.

“United States Purchaser” means a Purchaser who is a resident in the United States of America or is otherwise subject to the Securities Act. 

ARTICLE II.

PURCHASE AND SALE

2.1
  Closing. At the Closing, the Purchasers shall purchase, and the Company
  shall issue and sell, in the aggregate, a number of Units up to 4,000,000 Units.
  Each of the Purchasers shall purchase from the Company, and the Company shall
  issue and sell to such Purchaser, a number of Units equal to such Purchaser’s
  Subscription Amount divided by the Per Unit Purchase Price.

The Units are being offered in a private offering (the “Offering”) solely to a limited number of “accredited investors” as defined in Rule 50(a) under the Securities Act that commenced during October, 2006 and terminates January 31, 2007, unless extended by the Company in its sole discretion for up to an additional thirty (30) days. As of December 5, 2006, the Company has issued 625,000 Units in the Offering in consideration of gross cash proceeds of $1,250,000.00

2.2 Closing Deliveries. (a) The Company shall deliver or cause to be delivered to each Purchaser the following:

(1) At the Closing, this Agreement duly executed by the Company; and

(2) within ten Trading Days of the Closing Date, certificates evidencing a number of Shares equal to such Purchaser’s Subscription Amount divided by the Per Unit Purchase Price, and certificates evidencing a number of Warrants equal to one half of such Purchaser’s Subscription Amount divided by the Per Unit Purchase Price, in each case registered in the name of such Purchaser;

-5-

 

(b) At the Closing each Purchaser shall deliver or cause to be delivered to the Company the following:

(1) this Agreement duly executed by the Purchaser; and

(2) the Purchaser’s Subscription Amount by wire transfer to the account of the Company as provided to the Purchasers in writing prior to the Closing Date; 

2.3 Closing Conditions. The obligations of the Company and the Purchasers to complete the purchase and sale of the Securities shall be subject to the fulfillment or written waiver of each of the following conditions:

(a) All representations and warranties of each of the parties herein shall remain true and correct as of the Closing Date.

(b) As of the Closing Date, there shall have been no Material Adverse Effect with respect to the Company since the date hereof.

(c) From the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission (except for any suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to the Closing), and, at any time prior to the Closing Date, trading in securities generally as reported by the Trading Market shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by the Trading Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities.

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

3.1 Representations and Warranties of the Company. Except as set forth under the corresponding section of the Disclosure Schedules delivered concurrently herewith, the Company hereby makes the following representations and warranties as of the date hereof and as of the Closing Date to the Purchaser:

(a) Organization and Qualification. The Company is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation with the requisite corporate power and authority to own and use its properties and assets and to carry on its business as currently conducted. The Company is not in violation of any of the provisions of its articles of incorporation or bylaws. The Company is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, would
not have or reasonably be expected to result in (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of operations, assets, business or financial condition of the Company, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”).

-6-

 

(b) Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder. The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company in connection therewith. Each Transaction Document has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company
enforceable against the Company in accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally; (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies; and (iii) as limited by public policy.

(c) No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the Company of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company’s articles of incorporation or bylaws; (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company debt or otherwise) or other understanding to which the Company is a party or by which any property or asset of the Company is
bound or affected; or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such as would not have or reasonably be expected to result in a Material Adverse Effect.

-7-

 

(d) Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than (a) such as have already been obtained or such exemptive filings as are required to be made under applicable securities laws, and (b) such other filings as may be required following the Closing Date under the Securities Act, the Exchange Act and corporate law.

(e) Issuance of the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the Transaction Documents, will be duly and validly issued, fully paid and non-assessable. 

(f) Capitalization. Except for the issuance of Securities pursuant to this Agreement and other similar agreements entered into in connection with the offering of which this Agreement is a part and except as set forth below, as of December 5, 2006, the Company is authorized to issue 200,000,000 shares of Common Stock, of which 46,884,167 are issued and outstanding, and 10,000,000 shares of preferred stock none of which are outstanding. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents. Except as a result of the purchase and sale of the Securities, except for employee stock options under the Company’s stock option plans and except
as set forth below, there are no outstanding options, warrants, script rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock, or securities or rights convertible or exchangeable into shares of Common Stock. The issue and sale of the Securities will not obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Purchaser) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under such securities.

-8-

 

As of December 5, 2006, the Company has:

	

 
 	

(i)
 	

issued options to purchase 9,285,000 shares of Common Stocks;
 

	

 
 	

(ii)
 	

issued a warrant to Creata Promotions (USA), Inc. to purchase up to 3,000,000 shares of Common Stock, of which 250,000 have vested and the balance will not vest;
 

	

 
 	

(iii)
 	

agreed to issue 8,333 shares of Common Stock pursuant to a consulting agreement;
 

	

 
 	

(iv)
 	

agreed to issue 200,000 shares of Common Stock in exchange for 200,000 Class E Exchangeable Shares in the capital stock of Neutron Media Inc.;
 

	

 
 	

(v)
 	

agreed to issue 647,249 shares of Common Stock to acquire Stock-Trak, Inc.; and
 

	

 
 	

(vi)
 	

agreed to issue an option to purchase 200,000 shares of Common Stock in connection with the acquisition of Stock-Trak, Inc.
 

The Company has agreed to issue to Alliance Investment Management Inc., as partial consideration for fees payable to it in respect to the transactions contemplated by this Agreement, a number of warrants equal to eight percent (8%) of the total number of Units subscribed for as contemplated by this Agreement (collectively, the “Agent’s Warrants”), on substantially the same terms as the Warrants, save and except that the Agent’s Warrants provide for a cashless exercise of same.

-9-

 

(g) SEC Reports; Financial Statements. The Company has filed all reports required to be filed by it under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) of the Exchange Act, for the two years preceding the date hereof (or such shorter period as the Company was required by law to file such material) (the foregoing materials, including the exhibits thereto, being collectively referred to herein as the “SEC Reports” and, together with the Disclosure Schedules to this Agreement, the “Disclosure Materials”) on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in
accordance with generally accepted accounting principles applicable in the United States of America applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. 

(h) Material Changes. Since the date of the latest audited financial  statements included within the SEC Reports, except as disclosed in the SEC Reports, or in Schedule 3.1 (h), (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect; (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed in filings made with the Commission; (iii) the Company has not altered its method of accounting; (iv) the
Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock; and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option plans or as disclosed in the SEC Report. The Company does not have pending before the Commission any request for confidential treatment of information.

-10-

 

(i) Litigation. Except as disclosed in the SEC Reports, there is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened in writing against the Company, or any of its properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”) which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Securities; or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in
a Material Adverse Effect. The Company is not, and has not been, the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.

(j) Labor Relations. No material labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company which could reasonably be expected to result in a Material Adverse Effect.

(k) Compliance. Except as disclosed in the SEC Reports, the Company is not (i) in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company), and the Company has not received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived); (ii) in violation of any order of any court, arbitrator or governmental body; or (iii) in violation of any statute, rule or regulation of any governmental authority, including without limitation all
foreign, federal, state and local laws applicable to its business; except in the case of clauses (i), (ii) and (iii) as would not have or reasonably be expected to result in a Material Adverse Effect.

-11-

 

(l) Regulatory Permits. The Company possess all certificates, authorizations and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct its businesses as described in the SEC Reports, except where the failure to possess such permits would not have or reasonably be expected to result in a Material Adverse Effect (“Material Permits”), and neither the Company has not received any notice of proceedings relating to the revocation or modification of any Material Permit.

(m) Title to Assets. The Company has good and marketable title in fee simple to all real property that is material to the business of the Company, taken as a whole, and good and marketable title in all personal property that is material to the business of the Company, taken as a whole, in each case free and clear of all Liens, except for Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and Liens for the payment of federal, state or other taxes, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company are held by them under valid, subsisting and enforceable leases with
which the Company is in material compliance.

(n) Patents and Trademarks. To the knowledge of the Company, the Company has, or has rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, copyrights, licenses and other similar rights that are necessary or material for use in connection with its businesses as described in the SEC Reports and which the failure to so have could have or reasonably be expected to result in a Material Adverse Effect (collectively, the “Intellectual Property Rights”). The Company has not received a written notice that any of the Intellectual Property Rights used by the Company violates or infringes the rights of any Person. To the knowledge of the Company, all such Intellectual Property Rights are enforceable.

(o) Transactions With Affiliates and Employees. Except as set forth in the SEC Reports, none of the officers or directors of the Company and, to the knowledge of the Company, none of the employees of the Company is presently a party to any transaction with the Company (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from, any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner, in each case
in excess of $60,000 other than (a) for payment of salary or consulting fees for services rendered, (b) reimbursement for expenses incurred on behalf of the Company and/or (c) for other employee benefits, including stock option agreements under any stock option plan of the Company.

-12-

 

(p) Internal Accounting Controls. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company has established disclosure controls and procedures (as defined in Exchange
Act Rules 13a-14 and 15d-14) for the Company and designed such disclosure controls and procedures to provide reasonable assurance that material information relating to the Company, including its Subsidiaries, is made known to the certifying officers by others within those entities, particularly during the period in which the Company’s Form 10-KSB or 10-QSB, as the case may be, is being prepared.

(q) Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement, other than a fee payable to Alliance Investment Management Inc. equal to five percent (5%) of the gross proceeds from the subscription for Units contemplated by this Agreement plus the Agent’s Warrants. The Purchaser shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with the transactions contemplated by this Agreement.

(r) Private Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, no registration under the Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers as contemplated hereby. The issuance and sale of the Securities hereunder does not contravene the rules and regulations of the Trading Market.

-13-

 

(s)
  Investment Company.
  The Company is not, and
  is not an Affiliate of, an “investment company” within the meaning
  of the Investment Company Act of 1940, as amended.

(t) Listing and Maintenance Requirements. The Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

(u) Application of Takeover Protections. The Company and its Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s articles of incorporation (or similar charter documents) or the laws of its state of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including, without limitation, the Company’s issuance of the Securities and the Purchasers’ ownership of the Securities.

(v) Disclosure. The Company understands and confirms that the Purchasers will rely on the foregoing representations and covenants in effecting transactions in securities of the Company. All disclosure provided to the Purchasers regarding the Company, its business and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement, furnished by or on behalf of the Company are true and correct and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

3.2 Representations and Warranties of the Purchasers. Each Purchaser hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows:

(a) Organization Authority. The Purchaser is legally competent natural person or an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, with full right, corporate or partnership power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations thereunder. The execution, delivery and performance by the Purchaser of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate or similar action on the part of the Purchaser. Each Transaction Document to which it is a party has been duly executed by the Purchaser, and, when delivered by the Purchaser in accordance with the terms
hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its terms.

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(b) Investment Intent. The Purchaser understands that the Securities are “restricted securities” and have not been registered under the Securities Act or any applicable state securities law. The Purchaser is acquiring the Securities as principal for its own account for investment purposes only and not with a view to or for distributing or reselling such Securities or any part thereof, it has no present intention of distributing any of such Securities and it has no arrangement or understanding with any other persons regarding the distribution of such Securities (this representation and warranty not limiting the Purchaser’s right to sell the Securities in compliance with applicable federal and state securities laws). The Purchaser is acquiring the
Securities hereunder in the ordinary course of its business. The Purchaser does not have any agreement or understanding, directly or indirectly, with any Person to distribute any of the Securities.

(c) Purchaser Status. At the time the Purchaser was offered the Securities, it was, and at the date hereof it is, an “accredited investor” as defined in Rule 501(a) under the Securities Act, and shall be an “accredited investor” as of the date of any exercise of the Warrants. The Purchaser is not required to be registered as a broker-dealer under Section 15 of the Exchange Act.

(d) Experience of Such Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

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(e) General Solicitation. The Purchaser is not purchasing the Securities as a result of any advertisement, article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

(f) Compliance with the Securities Laws. The Purchaser agrees to comply with the requirements of Regulation M of the Exchange Act, if applicable, with respect to the sale of the Shares by the Purchaser. The Purchaser hereby confirms its understanding that it may not cover short sales made prior to the Effective Date with Shares purchased by it hereunder, nor may it pledge, hypothecate, lend or otherwise facilitate short sales of Company Shares. The Purchaser acknowledges that it does not intend to cover short positions made before the date hereof with Shares purchased by it hereunder.

(g) No Government Review. The Purchaser understands that neither the Commission nor any securities commission or other governmental authority of any state, country or other jurisdiction has approved the issuance of the Securities or passed upon or endorsed the merits of the Securities, this Agreement or the Warrant, or confirmed the accuracy of, determined the adequacy of, or reviewed this Agreement or the Warrant.

(h) Restrictions on Transfer. The Purchaser understands that the Securities are “restricted securities” as such term is defined in Rule 144 under the Securities Act and have not been registered under the Securities Act or registered or qualified under any state securities law, and may not be, directly or indirectly, sold, transferred, offered for sale, pledged, hypothecated or otherwise disposed of without registration under the Securities Act and registration or qualification under applicable state securities laws or the availability of an exemption therefrom.

(i) Access to Information. The Purchaser acknowledges that it has had access to and has reviewed all documents and records relating to the Company that it has deemed necessary in order to make an informed investment decision with respect to an investment in the Securities, including, but not limited to, the SEC Reports and other disclosure materials; that it has had the opportunity to ask representatives of the Company certain questions and request certain additional information regarding the terms and conditions of such investment and the finances, operations, business and prospects of the Company and has had any and all such questions and requests answered to its satisfaction; and that it understands the risks and other considerations relating to such investment.

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(j) Reliance on Representations. The Purchaser understands that the Securities are being offered and sold to it in reliance on specific exemptions from the registration requirements of the federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire the Securities. The Purchaser represents and warrants to the Company that any information that the Purchaser has heretofore furnished or furnishes herewith to the Company is complete and accurate, and further
represents and warrants that it will notify and supply corrective information to the Company immediately upon the occurrence of any change therein occurring prior to the Company’s issuance of the Securities. Within five (5) days after receipt of a request from the Company, the Purchaser will provide such information and deliver such documents as may reasonably be necessary to comply with any and all laws and regulations to which the Company is subject.

The Company acknowledges and agrees that the Purchaser does not make or has not made any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Section 3.2.

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

	

4.1
 	

Transfer Restrictions. (a) The Securities may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Securities other than (i) pursuant to an effective registration statement; (ii) to the Company; or (iii) to an Affiliate of the Purchaser, the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by the transferor, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under the Securities Act. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights of a Purchaser under this
Agreement.
 

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(b) The Purchasers agree to the imprinting, so long as is required by state or other jurisdictions and federal securities laws, of a legend on any of the Securities in the following form:

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

4.2 Furnishing of Information. As long as the Purchaser owns Securities, the Company covenants to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act. As long as the Purchaser owns Securities, if the Company is not required to file reports pursuant to the Exchange Act, it will prepare and furnish to the Purchaser and make available in accordance with Rule 144(c) such information as is required for the Purchaser to sell the Securities under Rule 144. The Company further covenants that it will take such further action as any holder of Securities may reasonably request, all to the extent required from time to time, to
enable such Person to sell such Securities without registration under the Securities Act within the limitation of the exemptions provided by Rule 144.

4.3 Integration. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would require the registration under the Securities Act of the sale of the Securities to the Purchaser or that would be integrated with the offer or sale of the Securities for purposes of the rules and regulations of any Trading Market.

4.4 Use of Proceeds. The Company shall use the net proceeds from the sale of the Securities hereunder for (i) general working capital purposes, (ii) to finance acquisitions, (iii) to finance software development and marketing, and (iv) not to redeem any Company equity or equity-equivalent securities or to settle any outstanding litigation, or to make any payment to any director or officer, other than salary and reimbursement of expenses in accordance with past practice.

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4.5 Indemnification of Purchaser. The Company will indemnify and hold each Purchaser and its directors, officers, shareholders, partners, employees and agents (each, a “Purchaser Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation, that any such Purchaser Party may suffer or incur as a result of or relating to: (a) any misrepresentation, breach or inaccuracy, or any allegation by a third party that, if true, would constitute a breach or inaccuracy, of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in
the other Transaction Documents; or (b) any cause of action, suit or claim brought or made against such Purchaser Party and arising solely out of or solely resulting from the execution, delivery, performance or enforcement of this Agreement or any of the other Transaction Documents and without causation by any other activity, obligation, condition or liability pertaining to such Purchaser. The Company will reimburse the Purchaser for its reasonable legal and other expenses (including the cost of any investigation, preparation and travel in connection therewith) incurred in connection therewith, as such expenses are incurred.

4.6 Prohibition of Short Sales. Until the termination of the transfer restrictions, each Purchaser shall not effect any “short sale” of the Company’s common stock. Each Purchaser acknowledges and agrees that, in the event of an actual or threatened breach of any of the provisions of this Agreement by such party, the harm to the others will be immediate, substantial and irreparable and the monetary damages will be inadequate. Accordingly, each Purchaser agrees that, in such event, the others will be entitled to equitable relief, including an injunction and an order of specific performance, in addition to any and all other remedies at law or in equity.

ARTICLE V.

MISCELLANEOUS

5.1 Fees and Expenses. Except as otherwise set forth in this Agreement, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all stamp and other taxes and duties levied in connection with the sale of the Securities.

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5.2 Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. 

5.3 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number on the signature pages attached hereto on a day that is not a Trading Day or later than 6:30 p.m. (New York City time) on any Trading Day, (c) the Trading Day following the date of mailing, if sent by U.S. nationally
recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

5.4 Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchaser or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right.

5.5 Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.

5.6 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. 

5.7 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

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5.8
  Governing Law. All questions concerning the construction, validity, enforcement
  and interpretation of the Transaction Documents shall be governed by and construed
  and enforced in accordance with the internal laws of the State of Nevada, without
  regard to the principles of conflicts of law thereof. If any party shall commence
  an action or proceeding to enforce any provisions of a Transaction Document,
  then the prevailing party in such action or proceeding shall be reimbursed by
  the other party for its attorney’s fees and other costs and expenses incurred
  with the investigation, preparation and prosecution of such action or proceeding.

5.9 Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing and delivery of the Units.

5.10 Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.

5.11 Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefore, and upon so agreeing, shall incorporate such substitute provision in this Agreement.

5.12 Replacement of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefore, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Securities.

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5.13 Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense that a remedy at law would be adequate.

5.14 Currency. All amounts expressed in dollars or “$” shall refer to the lawful currency of the United States in immediately available funds.

(signature page follows)

IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

	

Address for Notice:
 	

 
 	

Rory Olson

President

Neutron Enterprises Inc.

1155 René-Lévesque Blvd. West

Suite 2500

Montreal, Quebec H3B 2K4

        Canada

         

Tel: (514) 979-1864
 

 

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With copy to (which shall not constitute notice):
 	

 
 	

Neutron Enterprises Inc.

c/o Francine Wiseman

Corporate Secretary

5 Place Ville Marie

Suite 1203

Montreal, Quebec

H3B 2G2

 

Direct Line : (514) 875-7893

Fax: (514) 875-8237

E-mail: fwiseman@spiegelsohmer.com

 
 
	

 
 	

 
 	

 
 

[SIGNATURE PAGE CONTINUES]

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(PURCHASER’S SIGNATURE PAGE)

 

  	
         

      	
         

      	
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ANNEX I

DISCLOSURE SCHEDULE 3.1

[provide]

 

 

 

 

EXHIBIT A

WARRANT

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