Document:

Exhibit 10.3

                                LICENSE AGREEMENT

         THIS  AGREEMENT  is entered  into as of November  8, 1996,  by Simmonds
Capital Limited, a corporation incorporated pursuant to the laws of the province
of  Ontario  ("Licensor"),   and  American  Digital   Communications,   Inc.,  a
corporation   incorporated  pursuant  to  the  laws  of  the  State  of  Wyoming
("Licensee").

                                    RECITALS

         A.   Licensor   acquired  a  license  for  the  Products  from  Midland
         International  Corporation  ("MIC"),  a wholly-owned  subsidiary of the
         Licensor, pursuant to a license agreement dated the date hereof, a copy
         of which is attached hereto as Schedule 1.

         B. Licensor and MIC are  distributors  of  commercial  and mobile radio
         products under the Trademark, as defined.

         C. Licensor is the sole and exclusive owner of the License.

         D. Licensee is a distributor of communications products.

         E.  Licensor  desires to sell,  assign and grant to  Licensee a limited
         exclusive  license to use the Trademark  and to sell the  products,  as
         hereinafter  defined,  in the Territory,  as hereinafter  defined,  and
         Licensee  desires to obtain such license,  in accordance with the terms
         and provisions contained in this Agreement.

                                    AGREEMENT

         In consideration of the foregoing and the mutual promises and covenants
contained in this Agreement, the parties agree as follows:

                                   ARTICLE 1
                                   DEFINITIONS

                  1.1 "Affiliate" of a person means an entity which controls, is
controlled by or is under common control with such person.

                  1.2 "Agreement" means this agreement including any recitals or
schedules hereto.

                  1.3  "Confidential  Information"  means  any and  all  data or
information  disclosed by one party to this  Agreement to another  party to this
Agreement  (a) which either party  receives  from the other party or of which it
becomes  aware  or with  which it comes in  contact  as a  consequence  of or in
connection  with  this  Agreement  or  any  prior  agreement,  understanding  or
discussion  between the parties or their  respective  Affiliates;  (b) which has
value to the party disclosing such information and is not generally known by its
competitors;   and  (c)  which  is  considered  by  the  party  disclosing  such
information to be confidential  or  proprietary,

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whether or not marked as such. Confidential Information shall include but is not
limited to information  related to, contained in or consisting of trade secrets,
commercial  secrets,  industrial  secrets,  business  contacts,  customer lists,
supplier   lists,   ideas,   concepts,   designs,   drawings,    specifications,
work-in-process,   research,   developments,   methods,   processes,   know-how,
contractual   relationships,   intellectual   property,   patent   applications,
technology,  computer software,  source codes, object codes, financial condition
or performance,  plans, strategies,  distribution arrangements and other similar
information,  whether  existing  prior to or after  the date of this  Agreement,
provided that Confidential  Information shall not include  information which (i)
was  disclosed  to one party to this  Agreement  by a source  other than another
party to this  Agreement or its  Affiliates  or agents  without  restriction  on
disclosure  and without,  to the knowledge of the recipient of the  information,
any breach of an obligation of  confidentiality;  (ii) is generally known to the
public or in the electronics  industry  through no fault of the recipient of the
information  or  its  Affiliates;  (iii)  is  approved  for  disclosure  by  the
disclosing party to this Agreement in writing;  (iv) is required to be disclosed
by operation of law or the requirement of a court or governmental agency; or (v)
is independently developed by a party or its Affiliates without use, directly or
indirectly,   of  any  Confidential  Information  of  the  other  party  or  its
Affiliates.

                  1.4 "Consumer  Products" means consumer  wireless products and
consumer electronic products  consisting of consumer  communications  equipment,
consumer automotive equipment, consumer marine equipment, consumer amateur radio
products and consumer audio products and/or video home entertainment  equipment,
including,  but not limited to, citizen band radios, GMRS radios, marine radios,
scanners, intercoms, radio recorders, car radios, itinerant radios, consumer GPS
marine products,  satellite receivers,  video cassette recorders, video cameras,
stereophonic and high fidelity components and/or systems,  compact disc players,
laser disc players,  cordless telephones,  consumer paging products,  telephones
with video,  and other  telephones  and antennas and other  accessories  for the
foregoing.  The definition of Consumer Products  specifically  excludes cellular
telephones,  personal  communications  systems (PCS) telephones,  commercial and
two-way paging products,  commercial wireless satellite  antennas,  and the land
mobile  radio  ("LMR") and LMR antenna  products,  and all other  electronic  or
communications  equipment for use in the professional and commercial  market and
antennas and other accessories for the foregoing;

                  1.5  "License"  means the license  granted  under Article 3 of
this Agreement.

                  1.6 "License  Agreement" means that certain license  agreement
dated   November  8,  1996  between  the  Licensor  and  Midland   International
Corporation, attached hereto as Schedule 1.

                  1.7  "License  Fee"  means the  non-refundable  fee set out in
Article 4.

                  1.8 "Products"  means and is expressly  limited to land mobile
radio  products  bearing the  Trademark  manufactured  by or for Licensor in the
commercial and professional  markets.  Specifically excluded from the definition
of Products are Consumer Products.

                  1.9  "Territory"  means the  world,  excluding  the  following
countries:

                                      -2-
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                           (i) the United States of America and its  territories
and possessions;

                           (ii) Canada;

                           (iii)  United  Kingdom,  Ireland,  Germany,  Holland,
Belgium,   Luxembourg,   France,   Spain,   Portugal,   Malta,  Italy,  Austria,
Switzerland, Greece, Cyprus, Turkey, Norway, Sweden, Finland, Iceland, Denmark;

                           (iv) Cameroon,  Nigeria,  Oman, Benin,  Yemen,  Toga,
Burkina Faso, Senegal, Gambia, Sierra Leone, Liberia, Ivory Coast, Ghana, Gabon,
Algeria,  Congo,  Morocco,  Angola,  Gibraltar,  Namibia,  Western Sahara, South
Africa,  Mauritania,   Swaziland,  Botswana,  Niger,  Mozambique,  Chad,  Sudan,
Ethiopia,  Zimbabwe,  Somalia, Kenya, Malawi, Uganda,  Tanzania,  Zaire, Central
African Republic and Rwanda;

                           (v) Iran, Iraq,  United Arab Emirates,  Saudi Arabia,
Bahrain, Qatar, Kuwait, Syria, Jordan, Israel, Lebanon, Egypt, Libya;

                           (vi)  India,   Afghanistan,   Pakistan,   Bangladesh,
Burundi, Sri Lanka, Georgia, Turkmenistan, Kazakstan;

                           (vii)  Guinea  Bisseau,  Guinea,  Equatorial  Guinea,
Canary Islands, Mali, Madagascar, Mauritius;

                           (viii) Anguilla, Antigua and Barbuda, Aruba, Bahamas,
Barbados,  Belize,  Bermuda,  Bonaire,  British Virgin Islands,  Cayman Islands,
Cuba, Curacao, Dominica, Dominican Republic, Grenada, Guadeloupe, Guyana, Haiti,
Jamaica, Martinique, Montserrat, Netherlands Antilles, Puerto Rico, Saint Lucia,
Saint Vincent and the Grenadines,  Trinidad and Tobago, Turks and Caicos Island,
Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama.

                  1.10  "Trademark"  means and is limited to (i) the  registered
trademark   "Midland"  in  all   countries  in  the  Territory  and  all  future
registrations obtained by Licensor or its Affiliates in the Territory;  (ii) all
existing and future rights of Licensor and its  Affiliates to the name "Midland"
in all countries in the Territory in which trademark  registration  has not been
obtained;  and (iii) all existing and future logos used in connection therewith,
whether or not registered in all countries in the Territory.

                                   ARTICLE 2
                                  THE TRADEMARK

                  2.1 Licensee will  register the  Trademark in Licensor's  name
and at Licensee's expense in those jurisdictions in the Territory where Licensor
reasonably determines registration may be necessary or desirable.  Licensee will
register or record any other documents or material at Licensee's  expense as may
be required or desirable in  Licensor's  reasonable  opinion in the Territory in
order  to  safeguard  the  Trademark.  Should  the  laws or  regulations  of the
Territory  or any  jurisdiction  in the  Territory  require that the Products be
registered  with,  or approved by, any  governmental  or other  authority,  then
Licensee  shall  take such  steps as are  reasonably  necessary

                                      -3-
<PAGE>

to obtain  such  approval  or  registration  at its  expense,  always,  however,
ensuring that Licensor's rights in and to the Products and the Trademark and any
other rights are clearly  indicated.  Licensor  shall,  at  Licensee's  expense,
cooperate  with Licensee in obtaining  such  approvals or  registration.  In the
event that this  Agreement is  terminated  by Licensor  less than five (5) years
after the date on which  Licensee  obtains  approvals  or  registration  for the
Products in a jurisdiction of the Territory,  Licensor shall reimburse  Licensee
for its  reasonable  ascertainable  expenses  in  obtaining  such  approvals  or
registration.  Upon  termination  of this  Agreement,  Licensee  shall assign to
Licensor  all  rights,  title  and  interest  it may have  acquired  in all such
approvals and  registrations.  Licensee is solely  responsible for ensuring that
the  Products are duly  approved  and  registered  in all  jurisdictions  of the
Territory  and that its sale and  distribution  of the  Products  and use of the
Trademark at all times meets all applicable laws and regulations existing at any
time in any jurisdiction in the Territory.

                  2.2  Licensor   represents  that,   without  having  conducted
searches or investigations of any kind or reviewed any records,  it is not aware
of any  infringement  of the  Trademark  in the  Territory.  Licensor  does  not
represent or warrant that  Licensor  owns the  Trademark,  that the Trademark is
valid or  enforceable  in the Territory or that the Trademark is or will be free
of  infringement  or that it does not  infringe  on the  rights of  others,  and
Licensor  shall  have no  liability  to  Licensee  arising  from any  attacks or
challenges to the validity,  ownership or enforceability of the Trademark or any
registrations or applications therefor.  Licensee shall promptly advise Licensor
of any  infringement  of the Trademark of which it becomes aware during the term
of this Agreement.  Licensor shall not be required to prosecute any infringement
of the  Trademark  in the  Territory.  If  Licensor  undertakes  prosecution  of
infringement,  Licensor is entitled to any  amounts  recovered  in such  action.
Licensee  agrees to render  reasonable  assistance  to Licensor in such  action.
During the term of this  Agreement,  Licensee may at its cost prosecute any such
infringement as Licensor's agent in the Territory with the prior written consent
of Licensor,  which consent shall not be unreasonably  withheld.  Licensee shall
keep Licensor  apprised of the progress of any such proceeding.  Before Licensee
may settle  such  proceeding,  it must  obtain  consent to the  settlement  from
Licensor,   acting  reasonably.   The  parties  shall  mutually  agree,   acting
reasonably,  upon the allocation to each party of any amounts  recovered in such
proceedings.

                  2.3 Licensor shall have no  responsibility  in  manufacturing,
packaging and exporting the Products to Licensee.

                                   ARTICLE 3
                                  LICENSE GRANT

                  3.1  Licensor  hereby  grants,  assigns and  transfers  to the
Licensee all of its right,  title and interest in and to the License  Agreement,
as such  right,  title and  interest  is amended  pursuant  to the terms of this
Agreement as at and from the Effective Date.  Licensor  further grants,  assigns
and transfers to the Licensee its customer  records and the right to acquire the
benefits of any existing purchase orders,  providing the Licensee also agrees to
assume  liability for all warranty  claims in respect of such  purchase  orders,
arising  from and in  connection  with the License as at and from the  Effective
Date.

                                      -4-
<PAGE>

                  3.2 Licensor  and Licensee  hereby each confirm that the terms
and  conditions  contained in the License  Agreement  shall apply as between the
Licensor  and Licensee as if they were the original  parties  thereunder,  other
than to the extent that the License Agreement has been amended hereby.

                  3.3 Licensee is designated as  Licensor's  registered  user of
the Trademark in those countries in the Territory where such  registrations  are
appropriate   and  Licensee  shall   co-operate  with  Licensor  in  making  all
applications  in connection with such  designation as Licensor deems  reasonably
necessary or desirable.  Licensee acknowledges that it is only a licensee of the
Trademark and agrees that it shall make no claim of ownership or any other claim
to or under the Trademark,  apart from its limited  ability as a licensee to use
the Trademark on the limited category of Products pursuant to this Agreement.

                  3.4  Licensee  may  appoint   distributors  in  the  Territory
provided  such  distributors  comply  with  all  provisions  of this  Agreement.
Licensee shall enter into agreements with such distributors  which contain terms
in favour of the Licensee which are the same as or mare onerous than those under
this  Agreement.  Licensee  shall remain fully  responsible  to Licensor for the
conduct of each of its  distributors.  Licensee  agrees to honour  any  existing
distribution agreements until such agreements are legally terminated.

                                   ARTICLE 4
                       LICENSEE FEE AND BUYING COMMISSION

                  4.1 In consideration for the License,  Licensee shall issue to
Licensor on the  Effective  Date  3,000,000  common shares issued in reliance on
Regulation S in the capital stock of the Licensee.

                                   ARTICLE 5
                              PROMOTION OF PRODUCTS

                  5.1 Licensee  shall use its best efforts to promote and market
the full range of Products  and to  maximize  the  distribution  and sale of the
Products and to protect and promote the reputation and goodwill of the Products,
the  Trademark  and  Licensor  and the brand  perception  of the  Products.  5.2
Licensee  shall  comply with all  standards  for the  Products as  specified  by
Licensor  from time to time.  Licensee  shall  promptly  notify  Licensor of any
complaints  or claims about the  Products  and shall  comply with the  procedure
specified by Licensor for dealing with such complaints or claims.

                  5.3 Licensee  agrees that all marketing  plans relating to the
Products in the Territory shall be developed in  consultation  with Licensor and
in  accordance  with the  worldwide  marketing  policies  of  Licensor as may be
amended from time to time.

                  5.4 Licensee agrees to purchase from Midland Japan,  attention
Mr. Mori its  requirements for the Products and Licensee agrees and acknowledges
that Licensor  shall have no  responsibility  or obligation to accept or deliver
any Products to the Licensee hereunder.

                                      -5-
<PAGE>

                                   ARTICLE 6
                              RELEASE AND INDEMNITY

                  6.1 As additional consideration for the License,  Licensee and
its  respective  Affiliates,  successors  and  assigns,  hereby  unconditionally
indemnify,  release and hold Licensor and its  respective  officers,  directors,
partners,  shareholders,  employees,  Affiliates  and assigns (the  "Indemnified
Parties")  harmless  from  any and all  claims,  losses  and  causes  of  action
whatsoever,  arising  from any  understandings,  negotiations,  representations,
relationships  or  statements,   express  or  implied,   involving  any  of  the
Indemnified  Parties which occurred or existed or which Licensee  claims to have
occurred or existed prior to the date of this Agreement.

                  6.2 Licensee shall at all times maintain comprehensive general
liability insurance,  including product liability coverage,  with minimum limits
of not less than One Million  Dollars  ($1,000.000).  Licensor  shall be a named
insured under the insurance.  Upon request, Licensee shall provide to Licensor a
certificate evidencing such insurance.

                                   ARTICLE 7
                      ADDITIONAL COVENANTS AND RESTRICTIONS

                  7.1 During the term of this  Agreement,  without  the  written
consent of Licensor, Licensee shall not and shall not cause or permit any of its
agents,  Affiliates or distributors to (a) sell any Products under the Trademark
outside of the Territory, or (b) knowingly sell any Products under the Trademark
in the Territory for resale outside of such Territory.

                  7.2  Licensee  may use the  Trademark  in the  sale,  display,
promotion and servicing of Products,  but only in accordance with this Agreement
and only to the extent the Products are associated with the Trademark.  Licensee
may not use or attempt to  register  on its own behalf the  Trademark,  the term
"Midland" or any logos associated  therewith or any similar term or logo as part
of any mark,  name, trade style or business or corporate names of Licensee or in
connection with the sale, display,  servicing or promotion of any products other
than the Products except in accordance with this Agreement.  No other use may be
made  of the  Trademark  without  Licensor's  prior  written  consent.  Licensor
reserves  the right,  acting  reasonably,  to review and approve all uses of the
Trademark  by  Licensee on Products  or in  Licensee's  promotional  material or
otherwise  prior  to the  introduction  of such  use,  such  approval  not to be
unreasonably withheld; provided, that approval will be deemed to have been given
if  Licensor  does not object in writing to  Licensee's  proposed  use within 10
business days after receipt of such  materials for review.  The Trademark is the
exclusive  property of Licensor  and all rights to all goodwill  developed  with
respect to the  Trademark or any  derivation  thereof shall accrue solely to the
benefit of  Licensor.  Licensee  shall not at any time,  during the term of this
Agreement  or  thereafter,  do or  cause  to be  done  any  thing,  directly  or
indirectly,  which  may  affect  the  distinctiveness,  validity,  ownership  or
enforceability of the Trademark.

                  7.3 At the request of  Licensor,  Licensee  shall affix to all
Products and display in a reasonable  manner in all  promotional  literature and
materials  the  following  legend or such other legend as Licensor may prescribe
from time to time:

                                      -6-
<PAGE>

         "Midland"  is a  registered  trademark  of  Simmonds  Capital  Limited,
         Toronto, Ontario, Canada, used under license.

                  7.4  Licensor   shall  have  no  liability   for  any  product
warranties  extended by Licensee or its suppliers.  Licensee shall indemnify and
hold Licensor and its officers, directors, employees,  shareholders,  Affiliates
and assigns  harmless from all claims,  demands,  damages,  costs,  liabilities,
actions and causes of action  arising from any breach of warranty by Licensee or
its suppliers or any failure of or defect in any Products sold or distributed by
Licensee.

                  7.5  Licensor  shall  have no  responsibility,  obligation  or
liability to accept or deliver any Products which Licensee may order pursuant to
this Agreement and Licensee  further  acknowledges and agrees that all purchases
of Products are to be co-ordinated through Midland Japan, attention Mr. Mori.

                  7.6 Licensee  shall  conduct its business in  compliance  with
applicable  laws  and  regulations.  Licensee  may  use  the  Trademark  only in
connection  with the  distribution  and sale of products of standard  commercial
quality when put to their intended use. Licensor shall have the right to conduct
an annual  inspection  of the  operations  and  facilities  of Licensee  and its
supplier and distributors to ensure  compliance with the covenants  contained in
this Section 7.6.

                  7.7 Licensee shall assume  responsibility  for compliance with
all applicable laws and  regulations,  including but not limited to customs laws
and regulations,  in connection with the  importation,  distribution and sale of
Products bearing the Trademark.

                                   ARTICLE 8
                                 CONFIDENTIALITY

                  8.1 The parties acknowledge that they may receive or come into
contact with Confidential Information in connection with this Agreement or prior
dealings between the parties or their Affiliates. A party receiving Confidential
Information  (the  "Recipient")  shall  not  disclose  to  others or use for any
purpose any  Confidential  Information  of the other  party  without the written
consent of the party disclosing the Confidential  Information (the "Discloser").
The Recipient shall use the same care and discretion,  but in no event less than
reasonable care and  discretion,  to prevent  unauthorized  use or disclosure of
Confidential  Information as it employs with similar information of its own. The
covenants of confidentiality  herein contained will apply after the date of this
Agreement to any Confidential  Information,  whether disclosed prior to or after
such date.

                  8.2 The  parties  acknowledge  that any  breach by them of the
provisions of Section 8.1 could cause irreparable  injury to the Discloser which
would not be fully  compensable in damage.  Accordingly,  the Discloser shall be
entitled  to  obtain  junctive  relief  from a court of  competent  jurisdiction
against any breach or  threatened  breach by the  Recipient of such  provisions,
without the  necessity of posting bond or proving lack of an adequate  remedy at
law.

                                      -7-
<PAGE>

                                   ARTICLE 9
                                   ARBITRATION

                  9.1  Unless  either  party  elects  to  bring  an  action  for
injunctive relief under Article 8, any dispute, controversy or claim arising out
of or  relating  to this  Agreement  or any breach  hereof  shall be resolved by
arbitration  in accordance  with the then  existing  Rules of  Conciliation  and
Arbitration of the International Chamber of Commerce, as modified hereby.

                  9.2 Unless  otherwise  agreed by the parties,  the arbitration
panel shall  consist of three  arbitrators,  one to be appointed by Licensor and
one to be  appointed  by  Licensee,  with the third to be  appointed  by the two
arbitrators  appointed by Licensor and Licensee.  If either of the parties fails
to  appoint  an  arbitrator  within  30 days  after  receipt  of  notice  of the
appointment by the other of its arbitrator,  or if the two  arbitrators  fail to
appoint a third, then the International Chamber of Commerce will have the power,
at the request of either party,  to make the  appointment(s)  which has not been
made as contemplated above.

                  9.3 The  arbitrator  shall  not  have the  power  of  amiables
compositeurs.  Unless the parties  otherwise  agree the  arbitration  shall take
place  in  Toronto,   Ontario,   Canada.  Both  parties  shall  be  entitled  to
representation  by counsel,  to appear and present oral and written evidence and
argument,  to compel the testimony of witnesses and the production of documents,
to obtain a written list of the other party's  witnesses and documents  prior to
the hearing,  and to examine and  cross-examine  witnesses.  The substantive law
governing  this  Agreement  shall also govern the  arbitration  proceeding.  The
arbitration  proceedings,  all pleadings and evidence therein,  and the arbitral
award  shall be in the  English  language,  with any  translation  into  another
language  to be at the  expense of  Licensee.  The  arbitral  award  shall be in
writing and shall explain the reasons for the award. The arbitral award shall be
final and binding on the  parties.  The expense of  arbitration  shall be shared
equally by the parties unless otherwise decided by the arbitrators.

                  9.4 Each party agrees that final judgment on an arbitral award
rendered against it in any action or proceeding relating to this Agreement shall
be conclusive and may be enforced, to the extent permitted by applicable law, in
any  jurisdiction  within or without the  Territory by suit on the  judgment,  a
certified copy of which shall be conclusive  evidence thereof,  or by such other
means provided by applicable law.

                                   ARTICLE 10
                              TERM AND TERMINATION

                  10.1 Unless  terminated in accordance  with this Article 10 or
other  provisions  under  this  Agreement,  this  Agreement  shall be for a term
commencing on the date hereof and continuing indefinitely.

                  10.2 This  Agreement may be terminated at any time by Licensee
by giving 30 days written notice to Licensor.

                  10.3  Without  prejudice to any rights of action or any claims
for damage or rights accrued at the date of termination,  Licensor may terminate
this Agreement:

                                      -8-
<PAGE>

         (a)      in the  event of a breach  of any  term of this  Agreement  by
                  Licensee, provided that Licensee retains the right to cure any
                  such breach not later than thirty (30) days  following  notice
                  of the breach given to Licensee;

         (b)      immediately  in the event  Licensee  takes steps to enter into
                  liquidation  or becomes  insolvent,  bankrupt or enters into a
                  deed  of  arrangement  for the  benefit  of its  creditors  or
                  commits any equivalent act or thing under any applicable  law,
                  or if a receiver is appointed for its assets or business.

                  10.4 Upon any  termination of this Agreement by the parties or
by Licensee or by  operation  of law, the Licensee and all rights of Licensee to
use the Trademark shall  immediately  terminate,  and Licensee shall immediately
discontinue  all use of the  Trademark,  except as necessary  in the  reasonable
judgment  of  Licensor  to  enable  Licensee  to  dispose  of any then  existing
inventories  of Licensee  which  display the  Trademark.  Licensor  shall not be
liable  to  Licensee  or  any  Affiliate   for  any  damage,   loss  or  expense
reimbursement  or any refund of all or part of the License Fee arising  from any
termination of this Agreement. All payments due under this Agreement immediately
become payable to Licensor.

                                   ARTICLE 11
                                  MISCELLANEOUS

                  11.1  Nothing in this  Agreement  shall be  construed  to deem
Licensor and Licensee  partners,  joint ventures,  principal and agent or vendor
and  distributor,  or create  any  relationship  other  than  licensor-licensee.
Licensee is not a distributor,  representative or agent of Licensor, and neither
party shall have the right to contract for or to bind the other in any way.

                  11.2 Each party  consents to service of process upon it in any
proceeding  brought pursuant to the terms hereof by mailing copies of any notice
or pleadings by registered mail, return receipt requested,  to it at its address
set forth in Section  11.4.  The  foregoing  shall not limit the right of either
party to serve process in any other manner permitted by applicable law and shall
not  limit the  ability  of either  party to bring any  proceeding  or to obtain
execution  of  any  judgment  rendered  in any  such  proceeding  in  any  other
jurisdiction  in which the other  party or any of its  property or assets may be
found.

                  11.3 This  Agreement  shall be  governed by and  construed  in
accordance with the laws of the Province of Ontario.

                  11.4 Any notice  required or permitted  hereunder  shall be in
writing  and may be hand  delivered  or sent by  commercial  overnight  courier,
registered or certified mail or facsimile transmission:

         (a)      to Licensor:

                  Simmonds Capital Limited
                  Suite 1050
                  5255 Yonge Street
                  Willowdale, Ontario
                  M2N 6P4

                                      -9-
<PAGE>

                  Attention:        Chief Executive Officer
                  Facsimile:        (416) 221-3800

         (b)      with a copy to:

                  Heenan Blaikie
                  Barristers & Solicitors
                  Suite 2600
                  Royal Bank Plaza, South Tower
                  Toronto, Ontario
                  M5J 2J4

                  Attention:        W. Fraser McDonald
                  Facsimile:        (416) 360-8425

         (c)      to Licensee:

                  Americans Digital Communications, Inc.
                  3773 Cherry Creek North Drive
                  Suite 615
                  Denver, Colorado  80209

                  Attention:        Mr. Gene Klawetter
                  Facsimile:        (303) 377-9705

         (d)      with a copy to:

                  Brasher & Company
                  Attorneys and Counselors at Law
                  90 Madison Street
                  Suite 707
                  Denver, Colorado  80206

                  Attention:        Mr. John Brasher
                  Facsimile:        (303) 355-3063

         or to such other address or facsimile number as either party may notify
         the other in writing in accordance with this Section 11.4.

                  11.5 This Agreement may be executed in  counterparts,  each of
which  shall be deemed an  original  and both of which,  taken  together,  shall
constitute one and the same instrument.  A facsimile signature of this Agreement
shall be valid if followed by a signed hard copy.

                  11.6 This constitutes the entire agreement of the parties with
regard to the subject matter hereof, and may not be modified, altered or amended
except in writing and signed by all parties hereto.  Any prior agreement and any
other  agreement,  arrangement  and

                                      -10-
<PAGE>

understanding between the parties or their Affiliates,  written or oral, express
or implied, are hereby terminated.

         11.7 (a) This  Agreement  shall  be  binding  on and  enure to the
                  benefit  of the  parties  hereto.  Licensor  may  assign  this
                  Agreement or any rights  hereunder to any  successor  owner or
                  assignee  of  the  Trademark  by  giving   written  notice  to
                  Licensee.

         (b)      Licensee  may not assign this  Agreement or grant a sublicense
                  of all or any of its  rights  except  with the  prior  written
                  consent of Licensor and then only to a party which  undertakes
                  in a written instrument  reasonably  acceptable to Licensor to
                  abide by and agree to perform all covenants,  obligations  and
                  restrictions  of and upon Licensee under this  Agreement.  The
                  parties hereto specifically  consent to the assignment of this
                  Agreement or any right or entitlement  under this Agreement to
                  American Digital Corporation, a wholly owned subsidiary of the
                  Licensee  incorporated  under  the  laws  of the  Province  of
                  Ontario,   provided  that  it  complies  with  the  terms  and
                  provisions contained in this section.

                  11.8 If any  provision of this  Agreement is  determined by an
arbitrator or a court of competent jurisdiction to violate any applicable law or
public policy, such provision shall be severed herefrom, provided such severance
may be effected in such a way as not to destroy the essential meaning and intent
of this  Agreement,  and the  remaining  provisions  hereof shall remain in full
force and effect.

                  11.9 All dollar  amounts in this  Agreement are in currency of
the United States of America.

                  11.10  This   Agreement   may  be  executed  in  one  or  more
counterparts,  which can include facsimile  counterparts,  each of which when so
executed shall constitute an original and all of which together shall constitute
one and the same agreement.

         IN WITNESS  WHEREOF,  the  parties  have caused  this  Agreement  to be
executed as of the date set forth above.

                                        SIMMONDS CAPITAL LIMITED

                                        By:
                                          ------------------------------------

                                        AMERICAN DIGITAL COMMUNICATIONS, INC.

                                        By:
                                          ------------------------------------

<PAGE>

                                   SCHEDULE 1

                                LICENSE AGREEMENT

         THIS   AGREEMENT  is  entered  into   November  13,  1996,  by  Midland
International  Corporation,  a corporation  incorporated pursuant to the laws of
the State of Delaware  ("Licensor") and Simmonds Capital Limited,  a corporation
incorporated pursuant to the laws of the province of Ontario ("Licensee").

                                    RECITALS

         A. Licensor is a distributor  of commercial  and mobile radio  products
         under the Trademark, as defined.

         B. Licensor is a wholly-owned subsidiary of the Licensee.

         C. Licensor is in the process of winding up its affairs.

         D. Licensor is the sole and exclusive owner of the License.

         E. Licensee is a distributor of communications products.

         F. Licensor desires to sell, assign and grant to Licensee the exclusive
         license to use the Trademark and to sell the products,  as  hereinafter
         defined, in the Territory, as hereinafter defined, and Licensee desires
         to obtain such  license,  in accordance  with the terms and  provisions
         contained in this Agreement.

                                    AGREEMENT

         In consideration of the foregoing and the mutual promises and covenants
contained in this Agreement.  the parties agree as follows:

                                   ARTICLE 1
                                   DEFINITIONS

                  1.1 "Affiliate" of a person means an entity which controls, is
controlled by or is under common control with such person.

                  1.2 "Agreement" means this agreement including any recitals or
schedules hereto.

                  1.3  "Confidential  Information"  means  any and  all  data or
information  disclosed by one party to this  Agreement to another  party to this
Agreement  (a) which either party  receives  from the other party or of which it
becomes  aware  or with  which it comes in  contact  as a  consequence  of or in
connection  with  this  Agreement  or  any  prior  agreement,  understanding  or
discussion  between the parties or their  respective  Affiliates;  (b) which has
value to the party disclosing such information and is not generally known by its
competitors;   and  (c)  which  is  considered  by  the  party  disclosing  such
information to be confidential  or  proprietary,

                                      -11-
<PAGE>

whether or not marked as such. Confidential Information shall include but is not
limited to information  related to, contained in or consisting of trade secrets,
commercial  secrets,  industrial  secrets,  business  contacts,  customer lists,
supplier   lists,   ideas,   concepts,   designs,   drawings,    specifications,
work-in-process,   research,   developments,   methods,   processes,   know-how,
contractual   relationships,   intellectual   property,   patent   applications,
technology,  computer software,  source codes, object codes, financial condition
or performance,  plans, strategies,  distribution arrangements and other similar
information,  whether  existing  prior to or after  the date of this  Agreement,
provided that Confidential  Information shall not include  information which (i)
was  disclosed  to one party to this  Agreement  by a source  other than another
party to this  Agreement or its  Affiliates  or agents  without  restriction  on
disclosure  and without,  to the knowledge of the recipient of the  information,
any breach of an obligation of  confidentiality;  (ii) is generally known to the
public or in the electronics  industry  through no fault of the recipient of the
information  or  its  Affiliates;  (iii)  is  approved  for  disclosure  by  the
disclosing party to this Agreement in writing;  (iv) is required to be disclosed
by operation of law or the requirement of a court or governmental agency; or (v)
is independently developed by a party or its Affiliates without use, directly or
indirectly,   of  any  Confidential  Information  of  the  other  party  or  its
Affiliates.

                  1.4 "Consumer  Products" means consumer  wireless products and
consumer electronic products  consisting of consumer  communications  equipment,
consumer automotive equipment, consumer marine equipment, consumer amateur radio
products and consumer audio products and/or video home entertainment  equipment,
including,  but not limited to, citizen band radios, GMRS radios, marine radios,
scanners, intercoms, radio recorders, car radios, itinerant radios, consumer GPS
marine products,  satellite receivers,  video cassette recorders, video cameras,
stereophonic and high fidelity components and/or systems,  compact disc players,
laser disc players,  cordless telephones,  consumer paging products,  telephones
with video,  and other  telephones  and antennas and other  accessories  for the
foregoing.  The definition of Consumer Products  specifically  excludes cellular
telephones,  personal  communications  systems (PCS) telephones,  commercial and
two-way paging products,  commercial wireless satellite  antennas,  and the land
mobile  radio  ("LMR") and LMR antenna  products,  and all other  electronic  or
communications  equipment for use in the professional and commercial  market and
antennas and other accessories for the foregoing;

                  1.5  "License"  means the license  granted  under Article 3 of
this Agreement.

                  1.6  "License  Fee"  means the  non-refundable  fee set out in
Article 4.

                  1.7 "Products"  means and is expressly  limited to land mobile
radio  products  bearing the  Trademark  manufactured  by or for Licensor in the
commercial and professional  markets.  Specifically excluded from the definition
of Products are Consumer Products.

                  1.8  "Territory"  means the  world,  excluding  the  following
countries:

                           (i)      the United States of America;

                           (ii)     Canada;

                                      -2-
<PAGE>

                           (iii)  United  Kingdom,  Ireland,  Germany,  Holland,
Belgium,   Luxembourg,   France,   Spain,   Portugal,   Malta,  Italy,  Austria,
Switzerland, Greece, Cyprus, Turkey, Norway, Sweden, Finland, Iceland, Denmark;

                           (iv) Cameroon,  Nigeria,  Oman, Benin,  Yemen,  Togo,
Burkina Faso, Senegal, Gambia, Sierra Leone, Liberia, Ivory Coast, Ghana, Gabon,
Algeria,  Congo,  Morocco,  Angola,  Gibraltar,  Namibia,  Western Sahara, South
Africa,  Mauritania,   Swaziland,  Botswana,  Niger,  Mozambique,  Chad,  Sudan,
Ethiopia,  Zimbabwe,  Somalia, Kenya, Malawi, Uganda,  Tanzania,  Zaire, Central
African Republic and Rwanda;

                           (v) Iran, Iraq,  United Arab Emirates,  Saudi Arabia,
Bahrain, Qatar, Kuwait, Syria, Jordan, Israel, Lebanon, Egypt, Libya;

                           (vi)  India,   Afghanistan,   Pakistan,   Bangladesh,
Burundi, Sri Lanka, Georgia, Turkmenistan, Kazakstan;

                           (vii)  Guinea  Bisseau,  Guinea,  Equatorial  Guinea,
Canary Islands, Mali, Madagascar, Mauritius;

                           (viii) Anguilla, Antigua and Barbuda, Aruba, Bahamas,
Barbados,  Belize,  Bermuda,  Bonaire,  British Virgin Islands,  Cayman Islands,
Cuba, Curacao, Dominica, Dominican Republic, Grenada, Guadeloupe, Guyana, Haiti,
Jamaica, Martinique, Montserrat, Netherlands Antilles, Puerto Rico, Saint Lucia,
Saint Vincent and the Grenadines,  Trinidad and Tobago, Turks and Caicos Island,
Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama.

                  1.9  "Trademark"  means and is limited  to (i) the  registered
trademark   "Midland"  in  all   countries  in  the  Territory  and  all  future
registrations obtained by Licensor or its Affiliates in the Territory;  (ii) all
existing and future rights of Licensor and its  Affiliates to the name "Midland"
in all countries in the Territory in which trademark  registration  has not been
obtained;  and (iii) all existing and future logos used in connection therewith,
whether or not registered in all countries in the Territory.

                                   ARTICLE 2
                                  THE TRADEMARK

                  2.1 Licensee will  register the  Trademark in Licensor's  name
and at Licensee's expense in those jurisdictions in the Territory where Licensor
reasonably determines registration may be necessary or desirable.  Licensee will
register or record any other documents or material at Licensee's  expense as may
be required or desirable in  Licensor's  reasonable  opinion in the Territory in
order  to  safeguard  the  Trademark.  Should  the  laws or  regulations  of the
Territory  or any  jurisdiction  in the  Territory  require that the Products be
registered  with,  or approved by, any  governmental  or other  authority,  then
Licensee  shall  take such  steps as are  reasonably  necessary  to obtain  such
approval  or  registration  at  its  expense,  always,  however,  ensuring  that
Licensor's  rights in and to the Products and the Trademark and any other rights
are clearly  indicated.  Licensor shall, at Licensee's  expense,  cooperate with
Licensee in obtaining  such  approvals or  registration.  In the event that this
Agreement is  terminated  by Licensor less than five (5) years after the date on
which  Licensee  obtains  approvals  or  registration  for  the  Products  in  a

                                      -3-
<PAGE>

jurisdiction  of the  Territory,  Licensor  shall  reimburse  Licensee  for  its
reasonable  ascertainable  expenses in obtaining such approvals or registration.
Upon  termination  of this  Agreement,  Licensee  shall  assign to Licensor  all
rights,  title and  interest  it may have  acquired  in all such  approvals  and
registrations. Licensee is solely responsible for ensuring that the Products are
duly approved and registered in all  jurisdictions of the Territory and that its
sale and  distribution  of the  Products  and use of the  Trademark at all times
meets  all  applicable  laws  and  regulations  existing  at  any  time  in  any
jurisdiction in the Territory.

                  2.2  Licensor   represents  that,   without  having  conducted
searches or investigations of any kind or reviewed any records,  it is not aware
of any  infringement  of the  Trademark  in the  Territory.  Licensor  does  not
represent or warrant that  Licensor  owns the  Trademark,  that the Trademark is
valid or  enforceable  in the Territory or that the Trademark is or will be free
of  infringement  or that it does not  infringe  on the  rights of  others,  and
Licensor  shall  have no  liability  to  Licensee  arising  from any  attacks or
challenges to the validity,  ownership or enforceability of the Trademark or any
registrations or applications therefor.  Licensee shall promptly advise Licensor
of any  infringement  of the Trademark of which it becomes aware during the term
of this Agreement.  Licensor shall not be required to prosecute any infringement
of the  Trademark  in the  Territory.  If  Licensor  undertakes  prosecution  of
infringement,  Licensor is entitled to any  amounts  recovered  in such  action.
Licensee  agrees to render  reasonable  assistance  to Licensor in such  action.
During the term of this  Agreement,  Licensee may at its cost prosecute any such
infringement as Licensor's agent in the Territory with the prior written consent
of Licensor,  which consent shall not be unreasonably  withheld.  Licensee shall
keep Licensor  apprised of the progress of any such proceeding.  Before Licensee
may settle  such  proceeding,  it must  obtain  consent to the  settlement  from
Licensor,   acting  reasonably.   The  parties  shall  mutually  agree,   acting
reasonably,  upon the allocation to each party of any amounts  recovered in such
proceedings.

                  2.3 Licensor shall have no  responsibility  in  manufacturing,
packaging and exporting the Products to Licensee.

                                   ARTICLE 3
                                  LICENSE GRANT

                  3.1  Subject to any  existing  distribution  agreements  in or
relating to the Territory as disclosed to Licensee,  Licensor grants to Licensee
an exclusive license to use the Trademark solely in connection with the sale and
distribution of Products in the Territory.

                  3.2 Licensee is designated as  Licensor's  registered  user of
the Trademark in those countries in the Territory where such  registrations  are
appropriate   and  Licensee  shall   co-operate  with  Licensor  in  making  all
applications  in connection with such  designation as Licensor deems  reasonably
necessary or desirable.  Licensee acknowledges that it is only a licensee of the
Trademark and agrees that it shall make no claim of ownership or any other claim
to or under the Trademark,  apart from its limited  ability as a licensee to use
the Trademark on the limited category of products pursuant to this Agreement.

                  3.3  Licensee  may  appoint   distributors  in  the  Territory
provided  such  distributors  comply  with  all  provisions  of this  Agreement.
Licensee shall enter into agreements

                                      -4-
<PAGE>

with such  distributors  which contain terms in favour of the Licensee which are
the same as or more  onerous  than those under this  Agreement.  Licensee  shall
remain  fully   responsible   to  Licensor  for  the  conduct  of  each  of  its
distributors.  Licensee  agrees to honour any existing  distribution  agreements
until such agreements are legally terminated.

                                   ARTICLE 4
                       LICENSEE FEE AND BUYING COMMISSION

                  4.1 In  consideration  for the  License,  Licensee  agrees  to
release Licensor from its obligation to pay US$900,000 to Licensee.

                                   ARTICLE 5
                              PROMOTION OF PRODUCTS

                  5.1 Licensee  shall use its best efforts to promote and market
the full range of Products  and to  maximize  the  distribution  and sale of the
Products and to protect and promote the reputation and goodwill of the Products,
the Trademark and Licensor and the brand perception of the Products.

                  5.2 Licensee  shall comply with all standards for the Products
as specified  by Licensor  from time to time.  Licensee  shall  promptly  notify
Licensor of any  complaints  or claims  about the Products and shall comply with
the procedure specified by Licensor for dealing with such complaints or claims.

                  5.3 Licensee  agrees that all marketing  plans relating to the
Products in the Territory shall be developed in  consultation  with Licensor and
in  accordance  with the  worldwide  marketing  policies  of  Licensor as may be
amended from time to time.

                  5.4 Licensee agrees to purchase from Midland Japan,  attention
Mr. Mori its  requirements for the Products and Licensee agrees and acknowledges
that Licensor  shall have no  responsibility  or obligation to accept or deliver
any Products to the Licensee hereunder.

                                   ARTICLE 6
                              RELEASE AND INDEMNITY

                  6.1 As additional consideration for the License,  Licensee and
its  respective  Affiliates,  successors  and  assigns,  hereby  unconditionally
indemnify,  release and hold Licensor and its  respective  officers,  directors,
partners,  shareholders,  employees,  Affiliates  and assigns (the  "Indemnified
Parties")  harmless  from  any and all  claims,  losses  and  causes  of  action
whatsoever,  arising  from any  understandings,  negotiations,  representations,
relationships  or  statements,   express  or  implied,   involving  any  of  the
Indemnified  Parties which occurred or existed or which Licensee  claims to have
occurred or existed prior to the date of this Agreement.

                  6.2 Licensee shall at all times maintain comprehensive general
liability insurance,  including product liability coverage,  with minimum limits
of not less than One Million  Dollars  ($1,000,000).  Licensor  shall be a named
insured under the insurance.  Upon request, Licensee shall provide to Licensor a
certificate evidencing such insurance.

                                      -5-
<PAGE>

                                   ARTICLE 7
                      ADDITIONAL COVENANTS AND RESTRICTIONS

                  7.1 During the term of this  Agreement,  without  the  written
consent of Licensor, Licensee shall not and shall not cause or permit any of its
agents,  Affiliates or distributors to (a) sell any Products under the Trademark
outside of the Territory, or (b) knowingly sell any Products under the Trademark
in the Territory for resale outside of such Territory.

                  7.2  Licensee  may use the  Trademark  in the  sale,  display,
promotion and servicing of Products,  but only in accordance with this Agreement
and only to the extent the Products are associated with the Trademark.  Licensee
may not use or attempt to  register  on its own behalf the  Trademark,  the term
"Midland" or any logos associated  therewith or any similar term or logo as part
of any mark,  name, trade style or business or corporate names of Licensee or in
connection with the sale, display,  servicing or promotion of any products other
than the Products except in accordance with this Agreement.  No other use may be
made  of the  Trademark  without  Licensor's  prior  written  consent.  Licensor
reserves  the right,  acting  reasonably,  to review and approve all uses of the
Trademark  by  Licensee on Products  or in  Licensee's  promotional  material or
otherwise  prior  to the  introduction  of such  use,  such  approval  not to be
unreasonably withheld; provided, that approval will be deemed to have been given
if  Licensor  does not object in writing to  Licensee's  proposed  use within 10
business days after receipt of such  materials for review.  The Trademark is the
exclusive  property of Licensor  and all rights to all goodwill  developed  with
respect to the  Trademark or any  derivation  thereof shall accrue solely to the
benefit of  Licensor.  Licensee  shall not at any time,  during the term of this
Agreement  or  thereafter,  do or  cause  to be  done  any  thing,  directly  or
indirectly,  which  may  affect  the  distinctiveness,  validity,  ownership  or
enforceability of the Trademark.

                  7.3 At the request of  Licensor,  Licensee  shall affix to all
Products and display in a reasonable  manner in all  promotional  literature and
materials  the  following  legend or such other legend as Licensor may prescribe
from time to time:

         "Midland"  is a  registered  trademark  of  Simmonds  Capital  Limited,
         Toronto, Ontario, Canada, used under license.

                  7.4  Licensor   shall  have  no  liability   for  any  product
warranties  extended by Licensee or its suppliers.  Licensee shall indemnify and
hold Licensor and its officers, directors, employees,  shareholders,  Affiliates
and assigns  harmless from all claims,  demands,  damages,  costs,  liabilities,
actions and causes of action  arising from any breach of warranty by Licensee or
its suppliers or any failure of or defect in any Products sold or distributed by
Licensee,  unless such Products were  manufactured,  supplied or  distributed by
Licensor and are covered by Licensor's warranty.

                  7.5  Licensor  shall  have no  responsibility,  obligation  or
liability to accept or deliver any Products which Licensee may order pursuant to
this Agreement and Licensee  further  acknowledges and agrees that all purchases
of Products are to be co-ordinated through Midland Japan, attention Mr. Mori.

                                      -6-
<PAGE>

                  7.6 Licensee  shall  conduct its business in  compliance  with
applicable  laws  and  regulations.  Licensee  may  use  the  Trademark  only in
connection  with the  distribution  and sale of Products of standard  commercial
quality when put to their intended use. Licensor shall have the right to conduct
an annual  inspection  of the  operations  and  facilities  of Licensee  and its
supplier and distributors to ensure  compliance with the covenants  contained in
this Section 7.6.

                  7.7 Licensee shall assume  responsibility  for compliance with
all applicable laws and  regulations,  including but not limited to customs laws
and regulations,  in connection with the  importation,  distribution and sale of
Products bearing the Trademark.

                                   ARTICLE 8
                                 CONFIDENTIALITY

                  8.1 The parties acknowledge that they may receive or come into
contact with Confidential Information in connection with this Agreement or prior
dealings between the parties or their Affiliates. A party receiving Confidential
Information  (the  "Recipient")  shall  not  disclose  to  others or use for any
purpose any  Confidential  Information  of the other  party  without the written
consent of the party disclosing the Confidential  Information (the "Discloser").
The Recipient shall use the same care and discretion,  but in no event less than
reasonable care and  discretion,  to prevent  unauthorized  use or disclosure of
Confidential  Information as it employs with similar information of its own. The
covenants of confidentiality  herein contained will apply after the date of this
Agreement to any Confidential  Information,  whether disclosed prior to or after
such date.

                  8.2 The  parties  acknowledge  that any  breach by them of the
provisions of Section 8.1 could cause irreparable  injury to the Discloser which
would not be fully  compensable in damage.  Accordingly,  the Discloser shall be
entitled  to obtain  injunctive  relief from a court of  competent  jurisdiction
against any breach or  threatened  breach by the  Recipient of such  provisions,
without the  necessity of posting bond or proving lack of an adequate  remedy at
law.

                                   ARTICLE 9
                                   ARBITRATION

                  9.1  Unless  either  party  elects  to  bring  an  action  for
injunctive relief under Article 8, any dispute, controversy or claim arising out
of or  relating  to this  Agreement  or any breach  hereof  shall be resolved by
arbitration  in accordance  with the then  existing  Rules of  Conciliation  and
Arbitration of the International Chamber of Commerce, as modified hereby.

                  9.2 Unless  otherwise  agreed by the parties,  the arbitration
panel shall  consist of three  arbitrators,  one to be appointed by Licensor and
one to be  appointed  by  Licensee,  with the third to be  appointed  by the two
arbitrators  appointed by Licensor and Licensee.  If either of the parties fails
to  appoint  an  arbitrator  within  30 days  after  receipt  of  notice  of the
appointment by the other of its arbitrator,  or if the two  arbitrators  fail to
appoint a third, then the International Chamber of Commerce will have the power,
at the request of either party,  to make the  appointment(s)  which has not been
made as contemplated above.

                  9.3 The  arbitrator  shall  not  have  the  power  of  amiable
compositors. Unless the parties otherwise agree the arbitration shall take place
in Toronto, Ontario, Canada. Both

                                      -7-
<PAGE>

parties shall be entitled to  representation  by counsel,  to appear and present
oral and written  evidence and argument to compel the testimony of witnesses and
the  production  of  documents,  to obtain a written  list of the other  party's
witnesses and documents prior to the hearing,  and to examine and  cross-examine
witnesses.  The  substantive  law governing this Agreement shall also govern the
arbitration proceeding. The arbitration proceedings,  all pleadings and evidence
therein,  and the  arbitral  award  shall be in the English  language,  with any
translation into another language to be at the expense of Licensee. The arbitral
award  shall be in writing and shall  explain  the  reasons  for the award.  The
arbitral  award  shall be final and  binding  on the  parties.  The  expense  of
arbitration  shall be shared equally by the parties unless otherwise  decided by
the arbitrators.

                  9.4 Each party agrees that final judgment on an arbitral award
rendered against it in any action or proceeding relating to this Agreement shall
be conclusive and may be enforced, to the extent permitted by applicable law, in
any  jurisdiction  within or without the  Territory by suit on the  judgment,  a
certified copy of which shall be conclusive  evidence thereof,  or by such other
means provided by applicable law.

                                   ARTICLE 10
                              TERM AND TERMINATION

                  10.1 Unless  terminated in accordance  with this Article 10 or
other  provisions  under  this  Agreement,  this  Agreement  shall be for a term
commencing on the date hereof and continuing indefinitely.

                  10.2 This  Agreement may be terminated at any time by Licensee
by giving 30 days written notice to Licensor.

                  10.3  Without  prejudice to any rights of action or any claims
for damage of rights accrued at the date of termination,  Licensor may terminate
this Agreement:

         (a)      in the  event of a breach  of any  term of this  Agreement  by
                  Licensee, provided that Licensee retains the right to cure any
                  such breach not later thirty (30) days following notice of the
                  breach given to Licensee;

         (b)      immediately  in the event  Licensee  takes steps to enter into
                  liquidation  or becomes  insolvent,  bankrupt or enters into a
                  deed  of  arrangement  for the  benefit  of its  Creditors  or
                  commits any equivalent act or thing under any applicable  law,
                  or if a receiver is appointed for its assets or business.

                  10.4 Upon any  termination of this Agreement by the parties or
by Licensee or by  operation  of law, the Licensee and all rights of Licensee to
use the Trademark shall  immediately  terminate,  and Licensee shall immediately
discontinue  all use of the  Trademark,  except as necessary  in the  reasonable
judgment  of  Licensor  to  enable  Licensee  to  dispose  of any then  existing
inventories  of Licensee  which  display the  Trademark.  Licensor  shall not be
liable  to  Licensee  or  any  Affiliate   for  any  damage,   loss  or  expense
reimbursement  or any refund of all or part of the License Fee arising  from any
termination of this Agreement. All payments due under this Agreement immediately
become payable to Licensor.

                                      -8-
<PAGE>

                                   ARTICLE 11
                                  MISCELLANEOUS

                  11.1  Nothing in this  Agreement  shall be  construed  to deem
Licensor and Licensee  partners,  joint ventures,  principal and agent or vendor
and  distributor,  or create  any  relationship  other  than  licensor-licensee.
Licensee is not a distributor,  representative or agent of Licensor, and neither
party shall have the right to contract for or to bind the other in any way.

                  11.2 Each party  consents to service of process upon it in any
proceeding  brought pursuant to the terms hereof by mailing copies of any notice
or pleadings by registered mail,  return receipt  requested to it at its address
set forth in Section  11.4.  The  foregoing  shall not limit the right of either
party to serve process in any other manner permitted by applicable law and shall
not  limit the  ability  of either  party to bring any  proceeding  or to obtain
execution  of  any  judgment  rendered  in any  such  proceeding  in  any  other
jurisdiction  in which the other  party or any of its  property or assets may be
found.

                  11.3 This  Agreement  shall be  governed by and  construed  in
accordance with the laws of the Province of Ontario.

                  11.4 Any notice  required or permitted  hereunder  shall be in
writing  and may be hand  delivered  or sent by  commercial  overnight  courier,
registered or certified mail or facsimile transmission;

         (a)      to Licensor

                  Midland International Corporation
                  Suite 1050
                  5255 Yonge Street
                  Willowdale, Ontario
                  M2N 6P4

                  Attention:        Chief Executive Officer
                  Facsimile:        (416) 221-3800

         (b)      to Licensee:

                  Simmonds Capital Limited
                  Suite 1050
                  5255 Yonge Street
                  Willowdale, Ontario
                  M2N 6P4

                  Attention:        Chief Executive Officer
                  Facsimile:        (416) 221-3800

         or to such other address or facsimile number as either party may notify
         the other in writing in accordance with this Section 11.4.

                                      -9-
<PAGE>

                  11.5 This Agreement may be executed in  counterparts,  each of
which  shall be deemed an  original  and both of which,  taken  together,  shall
constitute one and the same instrument.  A facsimile signature of this Agreement
shall be valid if followed by a signed hard copy.

                  11.6 This constitutes the entire agreement of the parties with
regard to the subject matter hereof, and may not be modified, altered or amended
except in writing and signed by all parties hereto.  Any prior agreement and any
other  agreement,  arrangement  and  understanding  between the parties or their
Affiliates, written or oral, express or implied, are hereby terminated.

         11.7 (a) This  Agreement  shall be  binding  on and  ensure  to the
                  benefit of the parties  hereto.  Licensor  may not assign this
                  Agreement or any rights  hereunder to any  successor  owner or
                  assignee  of the  Trademark,  other than to  American  Digital
                  Communications,  Inc.  ("ADC,  Inc."),  without giving written
                  notice to Licensee and ADC, Inc.

         (b)      Licensee  may not assign this  Agreement or grant a sublicense
                  of all or any of its  rights  except  with the  prior  written
                  consent of Licensor and then only to a party which  undertakes
                  in a written instrument  reasonably  acceptable to Licensor to
                  abide by and agree to perform all covenants,  obligations  and
                  restrictions of and upon Licensee under this Agreement.

                  11.8 If any  provision of this  Agreement is  determined by an
arbitrator or a court of competent jurisdiction to violate any applicable law or
public policy, such provision shall be severed herefrom, provided such severance
may be effected in such a way as not to destroy the essential meaning and intent
of this Agreement and the remaining provisions hereof shall remain in full force
and effect.

                  11.9 All dollar  amounts in this  Agreement are in currency of
the United States of America.

                  11.10  This   Agreement   may  be  executed  in  one  or  more
counterparts,  which can include facsimile  counterparts,  each of which when so
executed shall constitute an original and all of which together shall constitute
one and the same agreement.

                  IN WITNESS WHEREOF,  the parties have caused this Agreement to
be executed as of the date set forth above.

                                   MIDLAND INTERNATIONAL CORPORATION

                                   By:      ____________________________________

                                   SIMMONDS CAPITAL LIMITED

                                   By:      ____________________________________

                                      -10-
<PAGE>

                         [Letterhead of Heenan Blaikie]

November 13, 1996

American Digital Communications, Inc.
3773 Cherry Creek North Drive
Suite 615
Denver, Colorado 80209

- and -

Brasher & Company
90 Madison Street
Suite 707
Denver, Colorado 80209

Dear Sirs:

Re:  Assignment of License Rights to American Digital Communications, Inc.

         We have  acted as  counsel  to  Simmonds  Capital  Limited  ("SCL")  in
connection with the grant,  assignment and transfer of all of SCL's right, title
and interest in and to the License  Rights (as such term is defined in the Asset
Purchase  Agreement  described below) to American Digital  Communications,  Inc.
("ADC,  Inc.") and the  granting  by SCL and Midland  International  Corporation
("MIC") to ADC, Inc. of a right to purchase  certain  in-stock  inventory of SCL
and MIC. As such,  we have  participated  in the  preparation  of: (i) the asset
purchase agreement (the "Asset Purchase Agreement") dated November 8, 1996 among
SCL,  MIC,  ADC,  Inc. and American  Digital  Corporation;  and (ii) the license
agreement (the "License Agreement") dated November 8, 1996, between SCL and ADC,
Inc.

         We have examined originals or copies, certified or otherwise identified
to our satisfaction,  of the constating documents,  articles and by-laws of SCL,
such corporate records of SCL, such certificates and letters of public officials
and  officers  of SCL,  and  such  other  documents,  and have  considered  such
questions of law and made such other investigations,  as we have deemed relevant
or necessary as the basis for the opinions  hereinafter  expressed.  In all such
examinations,  we have  assumed the  genuineness  of all  signatures,  the legal
capacity of all individuals,  the authenticity of all documents  submitted to us
as originals, the conformity to original documents of ail documents submitted to
us as certified,  conformed or photostatic  copies or facsimiles thereof and the
authenticity of the originals of such certified, conformed or photostatic copies
or facsimiles.

         We express no opinion as to any matters governed by any laws other than
the laws of the  Province of Ontario and the federal  laws of Canada  applicable
therein.

         In expressing the  enforceability  opinion set forth in paragraph 4, we
have  assumed  that the  Asset  Purchase  Agreement  and the  License  Agreement
constitute  legal,  valid and binding  obligations of the parties  thereto other
than SCL, and are  enforceable  against such  parties in

                                      -11-
<PAGE>

accordance  with  their  respective  terms,  subject  to the  qualifications  on
enforceability referred to in the following paragraph.

         With respect to the opinions  expressed in paragraph 1 hereof,  we have
relied, without independent verification,  upon a certificate of status from the
Ministry of Consumer and Corporate Relations for SCL dated November 13, 1996.

         The opinions  expressed below are subject to the qualification that the
rights and  remedies  of the  parties to the Asset  Purchase  Agreement  and the
License  Agreement  contained  in the  said  agreements  may be  subject  to and
affected  by the laws  relating to  bankruptcy,  insolvency,  reorganization  or
creditors'  rights  generally  and by the  equitable or statutory  powers of the
courts to stay  proceedings  before them, to stay the execution of judgments and
to grant  relief  against  forfeiture.  Further,  the  enforcement  of the Asset
Purchase Agreement and the License Agreement,  or any judgment arising out of or
in  connection  therewith  is subject to the general  principles  of equity.  In
particular,  we  express  no  opinion  as to  whether  a  court  will  order  an
injunction, specific performance or other equitable remedies with respect to any
particular provision of the Asset Purchase Agreement and the License Agreement.

         Based and  relying  upon and  subject to the  foregoing,  we are of the
opinion that:

                  SCL is a corporation  incorporated and existing under the laws
                  of the Province of Ontario.  SCL has full corporate  power and
                  authority to own its properties and assets and to carry on its
                  business as currently conducted by it.

                  SCL has the requisite corporate power and authority to execute
                  and deliver and to carry out its  obligations  under the Asset
                  Purchase Agreement and the License Agreement.

                  All  necessary  corporate  action  has  been  taken  by SCL to
                  authorize  the  execution  and  delivery  by it of  the  Asset
                  Purchase   Agreement   and  the  License   Agreement  and  the
                  performance of its obligations thereunder.

                  Each of the Asset Purchase Agreement and the License Agreement
                  has been duly  authorized,  executed and  delivered by SCL and
                  constitutes  a legal,  valid  and  binding  obligation  of SCL
                  enforceable against SCL in accordance with its terms.

                  The  execution  and  delivery  by SCL of  the  Asset  Purchase
                  Agreement and License  Agreement and the performance by SCL of
                  its  obligations  thereunder do not and will not result in any
                  breach or violation of, or conflict with any of the provisions
                  of, (i) the  constating  documents  or by-laws of SCL, or (ii)
                  the  provisions  of  any  law,  statute,  rule  or  regulation
                  applicable to SCL.

                  No approval,  authorization,  consent,  permit or other action
                  by, or filing with, any governmental  body or authority or any
                  regulatory

                                       -2-
<PAGE>

                  agency,  body or tribunal  having  jurisdiction is required in
                  connection with the execution and delivery by SCL of the Asset
                  Purchase Agreement or the License Agreement or the performance
                  by SCL of its obligations thereunder.

         This  opinion is provided  solely for your use in  connection  with the
above  referenced  transaction  and may not be relied  upon by you for any other
purpose or quoted from or relied upon by any other person.

Yours very truly,
Heenan Blaikie

                                       -3-EXHIBIT 10.22

                            CREDIT FACILITY AGREEMENT
                                       AND
                                 PROMISSORY NOTE

     This CREDIT FACILITY  AGREEMENT (the "Agreement") is made as of February 3,
2000 between Netrix  Corporation  (the  "Borrower") and Steven T. Francesco (the
"Lender").

SECTION 1.  AMOUNT AND TERMS OF THE CREDIT FACILITY

     1.1 THE CREDIT FACILITY

     Subject to the terms and conditions of this Agreement and the Note (as such
term is defined in Section 1.2 below),  the Lender  agrees to make  available to
the Borrower a credit  facility  (the  "Facility")  under which the Borrower may
from time to time on or after the date hereof to and  including  the  Expiration
Date (as such term is defined in Section  2.3 below)  borrow from the Lender any
amount  up to but not to exceed  $10,000,000  in the  aggregate  at any one time
outstanding  (exclusive  of  interest,  fees or  other  charges  payable  by the
Borrower  under this  Agreement  and Note).  Borrowings  under the  Facility are
herein referred to collectively as the "Loans" and individually as a "Loan". The
Borrower  may use  the  Facility  by  borrowing,  repaying  and  reborrowing  in
accordance  with the terms and conditions of this  Agreement and the Note.  Each
request for a Loan may be made upon ten business  days' notice.  Each Loan shall
be deemed to be a  representation  and  warranty by the  Borrower on the date of
such Loan  that  immediately  prior to and after the  making of such Loan (i) no
Event of Default (as described in Section 2.1 below),  or event which,  with the
giving  of  notice  or  lapse  of time or both,  would  become  such an Event of
Default,  shall have  occurred and be  continuing  and (ii) no material  adverse
change in the financial condition, assets, business,  operations or prospects of
the Borrower shall have occurred,  and the truth and  correctness of each of the
foregoing  representations  when  deemed made is a  condition  precedent  to the
Lender's obligation to make such Loan.

     1.2 THE NOTE

     On or prior to the date on which the Lender  makes the initial  Loan to the
Borrower  under the  Facility,  the  Borrower  shall  execute and deliver to the
Lender the promissory note (the "Note") which follows this Agreement.

     The initial Loan and all subsequent Loans, and each payment made on account
of the principal thereof, shall be endorsed on the Note as of the date such Loan
is made or such payment is received by the Lender in immediately available funds
as provided in the Note. The Note shall be used to record all Loans and payments
of principal made under the Facility.

     1.3 VOLUNTARY PREPAYMENTS

     The  Borrower may prepay the Note in whole at any time or in part from time
to time without premium or penalty.  Partial prepayments of the Note shall be in
a minimum principal amount of $10,000 or any whole multiple thereof.

<PAGE>

     1.4 FINANCIAL INFORMATION

     The Borrower  hereby agrees to provide such  financial  information  to the
Lender as the Lender may reasonably request from time to time.

SECTION 2.  TERMINATION OF THE FACILITY

     2.1 EVENTS OF DEFAULT

     If the  Borrower  fails  to  perform  any  agreement  herein  contained  or
contained  in any other  agreement  with the Lender or if default  occurs in the
punctual  payment of any sum payable under the Note, this Agreement or any other
obligation of the Borrower to the Lender,  or if any  representation or warranty
deemed made  pursuant to Section 1.1 above shall be untrue or  incorrect  in any
respect,  or if any event described in paragraph 3 of the Note occurs;  then the
Facility  shall  automatically  terminate  and all Loans,  although not yet due,
shall become immediately due and payable without notice or demand.

     2.2 TERMINATION OR REDUCTION OF COMMITMENT

     The Borrower shall have the right, upon prior written notice to the Lender,
to  terminate  the  Facility in whole at any time or to reduce the amount of the
Facility  provided in Section 1.1 in part from time to time,  provided  that (a)
any  termination  of the Facility shall be accompanied by payment in full of the
unpaid principal amount of the Note, together with interest accrued thereon, and
(b)  partial  reductions  of the  Facility  shall be in the  minimum  amount  of
$25,000, and shall be accompanied by prepayment,  together with interest accrued
thereon to the date of the prepayment, to the extent, if any, that the aggregate
unpaid principal amount of the Note exceeds the Facility as then reduced.

     2.3 EXPIRATION DATE

     Unless  specifically  extended  by  the  Lender  in  writing  or  otherwise
terminated  under  Section 2.1 or Section 2.2, the Facility  shall expire on the
earlier of (x) May 30, 2001 or (y) the date  Borrower  raises  $10.0  million or
more through the sale of equity  securities  (the  "Expiration  Date"),  and all
amounts  outstanding  under this Agreement and the Note shall be due and payable
on the Expiration Date.

SECTION 3.  MISCELLANEOUS

     3.1 NO WAIVER

     The Borrower agrees that no failure to exercise and no delay in exercising,
on the part of the Lender, any right, power or privilege under this Agreement or
the Note  shall  operate  as a waiver  thereof;  nor shall any single or partial
exercise  of any right,  power or  privilege  under this  Agreement  or the Note
preclude  any other or further  exercise  thereof or the  exercise  of any other
right, power or privilege. The rights and remedies provided under this Agreement
and the Note are cumulative and not exclusive of any rights or remedies provided
by law. No  modification  or waiver of any  provision  of this  Agreement or the
Note, or any consent to any departure by the Borrower from the provisions hereof
or  thereof,  shall be  effective  unless the same shall be in writing  from the
Lender and then such waiver or consent  shall be effective  only in the specific
instance  and for the purpose for which it is given.  No notice to the  Borrower
shall  entitle the  Borrower to any other or further  notice in other or similar
circumstances unless expressly provided for herein. No course of dealing between
the Borrower  and the Lender  shall  operate as a waiver of any of the rights of
the Lender under this Agreement or the Note.

                                       2

<PAGE>

     3.2 SUCCESSORS AND ASSIGNS

     The Lender may at any time and from time to time sell, assign,  transfer or
otherwise  dispose  of all or any  portion  of this  Agreement,  the Note or the
Lender's  interest herein and the Lender may furnish any information  concerning
the  Borrower  in  the  possession  of the  Lender  from  time  to  time  to its
transferees or assignees (including prospective  transferees or assignees).  The
Borrower may not assign or transfer its rights or obligations  hereunder without
the prior written consent of the Lender.

     3.3 EXPENSES

     The  Borrower  agrees to  reimburse  the  Lender on demand  for all  costs,
expenses and charges (including, without limitation, fees and charges of counsel
and  costs   allocated  by  internal  legal  counsel)  in  connection  with  the
preparation or  modification  of this  Agreement and the Note; the  performance,
collection  or  enforcement  of this  Agreement or the Note;  or, the defense or
prosecution of any rights of the Lender pursuant to this Agreement or the Note.

     3.4 GOVERNING LAW

     This  Agreement  shall be governed by and construed in accordance  with the
laws of the Commonwealth of Virginia.

     3.5 NOTICE

     All notices,  requests,  demands, claims and other communications hereunder
shall be in writing. Any notice,  request,  demand, claim or other communication
hereunder  shall be deemed dully given if (and then two business  days after) it
is sent by registered  or certified  mail,  return  receipt  requested,  postage
prepaid and addressed to the intended recipient as set forth below:

      If to the Borrower      Netrix Corporation
                              13595 Dulles Technology Drive
                              Herndon, Virginia  20171
                              Attention:  Chairman
                              Telephone:  (703) 742-6000
                              Facsimile:  (703) 793-2060

      If to the Lender        Steven T. Francesco
                              c/o Netrix Corporation
                              13595 Dulles Technology Drive
                              Herndon, Virginia  20171
                              Telephone:  (703) 742-6000
                              Facsimile:  (703) 793-2060

     Either the  Borrower  or the Lender may send any notice,  request,  demand,
claim or other communication  hereunder to the intended recipient at the address
set forth above using personal delivery,  expedited courier,  messenger service,
telecopy or ordinary mail, but no such notice,  request,  demand, claim or other
communication  shall be  deemed  to have been  duly  given  unless  and until it
actually is  received  by the  intended  recipient.  Either the  Borrower or the
Lender may change the address to which notices,  requests,  demands,  claims and
other communications  hereunder are to be delivered by given the other notice in
the manner set forth in this paragraph,  provided that no such change of address
shall be effective until it actually is received by the intended recipient.

                                       3

<PAGE>

     3.6 ENTIRE AGREEMENT

     This  Agreement  (including  the Note)  constitutes  the  entire  agreement
between the Borrower  and the Lender and  supersedes  any prior  understandings,
agreements or representations by or between the Borrower and the Lender, written
or oral, to the extent they related in any way to the subject matter hereof.

     The Borrower  and the Lender have caused this  Agreement to be signed as of
the date first written above.

                                          NETRIX CORPORATION

                                          By:  /s/ Peter J. Kendrick
                                             -----------------------------------

                                          Title:  Chief Financial Officer
                                                --------------------------------

                                                  /s/ Steven T. Francesco
                                                --------------------------------
                                                      Steven T. Francesco

                                       4

<PAGE>

                                PROMISSORY NOTE

                                                                 Viena, Virginia

$ ----------------                         ----------------------,-------------,

     1. On the  Expiration  Date (as such term is defined in Section  2.3 of the
Credit  Facility  Agreement of even date  herewith  between the Borrower and the
Lender  (the  "Agreement")),   FOR  VALUE  RECEIVED,   Netrix  Corporation  (the
"Borrower")  promises to pay to the order of Steven T.  Francesco (the "Lender")
at his  address  provided  in the  Agreement,  in  United  States  dollars,  the
aggregate  unpaid  principal  amount of all Loans  (as such term is  defined  in
Section 1.1 of the Agreement) made by the Lender to the Borrower as shown on the
schedule attached hereto and made a part hereof (the "Schedule"),  together with
interest  (calculated  on the basis of a 360 day year for the  actual  number of
days  elapsed)  on the  unpaid  principal  amount  thereof  from  time  to  time
outstanding  at a rate per annum  equal to 5% above the prime  rate of  interest
published by THE WALL STREET JOURNAL from time to time as the prime rate, but in
no event in  excess  of the  maximum  rate  permitted  by  applicable  law.  Any
principal  amount  hereof  which is not paid when due  (whether  as  stated,  by
acceleration  or  otherwise)  shall bear interest for each day during the period
from and including the due date to the date of payment in full thereof at a rate
per annum equal to 2% above the rate in effect on such day. The Borrower  agrees
that interest  shall be payable on the last business day of each calendar  month
commencing on the first such date  occurring  after the date of this Note and on
any payment of  principal.  Any change in the  interest  rate  resulting  from a
change in the prime rate shall become effective as of the opening of business on
the day on which such change in such prime rate  occurs.  If any  payment  under
this Note  becomes due and  payable on a Saturday,  Sunday or other day on which
commercial Lenders are authorized to close under the laws of the Commonwealth of
Virginia, the maturity thereof shall be extended to the next succeeding business
day and interest  thereon  shall be payable at the  applicable  rate during such
extension.

     2. The Lender shall,  and is hereby  authorized by the Borrower to, endorse
on the Schedule and any continuations  thereof appropriate notations to evidence
the date and  principal  amount  of each  Loan and the date and  amount  of each
payment of principal  on the date such Loan is made or a payment in  immediately
available funds is received; provided that the Lender's failure to make any such
notation  shall not limit or otherwise  affect the  obligations  of the Borrower
hereunder  or under the  Agreement.  This Note shall be used to record all Loans
and payment of principal  made  hereunder and it shall  continue to be used even
though  there may be periods  when no amount of  principal  or interest is owing
hereunder. The Schedule and all continuations thereof shall be conclusive in the
absence of manifest error.

     3. If any of the  following  events of default  shall occur with respect to
the Borrower:  (a) the Borrower  shall fail to pay the principal of, or interest
on, this Note, or any other amount payable under this Note or the Agreement,  as
and when due and payable; (b) any representation or warranty made or deemed made
by the Borrower in this Note or in the  Agreement,  or which is contained in any
certificate,  document,  opinion,  financial or other statement furnished at any
time under or in connection with any this Note or the Agreement,  shall prove to
have been incorrect in any material  respect on or as of the date made or deemed
made;  (c) the Borrower  shall fail to perform or observe any term,  covenant or
agreement  contained in any Note or the Agreement on its part to be performed or
observed;  (d) the  Borrower  or shall  fail to pay  when  due any  indebtedness
(including but not limited to  indebtedness  for borrowed  money) or if any such
indebtedness  shall become due and payable,  or shall be capable of becoming due
and payable at the option of any holder thereof, by acceleration of its maturity
or if there shall be any default by the Borrower under any agreement relating to
such indebtedness; (e) the Borrower shall dissolve or for any reason cease to be
in existence;  or (f) the Borrower is involved in a proceeding  which may result
in a  forfeiture  of all or a  substantial  part of the  Borrower's  assets or a
material  judgment is entered  against the Borrower;  THEN, in any such case, if
the Lender shall elect by notice to the Borrower, the unpaid principal amount of
this Note and all Loans made hereunder,  together with accrued  interest,  shall
become  forthwith due and payable;  the unpaid principal amount of this Note and
all Loans made  hereunder,  together with accrued  interest,  shall  immediately
become due and payable without any notice or other action by the Lender.

     4. This Note is the Note referred to in the Agreement and is subject to the
terms and  conditions  thereof,  is entitled to the benefits  thereof and may be
prepaid as provided therein.

                                       5

<PAGE>

     5. This Note shall be governed by and construed in accordance with the laws
of the Commonwealth of Virginia.

                                    NETRIX CORPORATION

                                    BY:_________________________________________

                                    TITLE:______________________________________

                                       6

<PAGE>

                          SCHEDULE OF LOANS AND PAYMENT

===============================================================================
                                                 AGGREGATE
                                                 PRINCIPAL
     DATE                                         BALANCE         NOTATION
      OF                         AMOUNT OF       REMAINING          MADE
     LOAN       AMOUNT OF LOAN    PAYMENT         UNPAID             BY
===============================================================================

                                       7

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