Document:

Exhibit 4.4

                                                                       EXHIBIT D

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE 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 IN THE OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY. THIS
SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY
SUCH SECURITIES.

                     SERIES B COMMON STOCK PURCHASE WARRANT

                To Purchase __________ Shares of Common Stock of

                                Genio Group, Inc.

            THIS SERIES B COMMON STOCK PURCHASE WARRANT (the "Warrant")
CERTIFIES that, for value received, _____________ (the "Holder"), is entitled,
upon the terms and subject to the limitations on exercise and the conditions
hereinafter set forth, at any time on or after November __, 2003 (the "Initial
Exercise Date") and on or prior to the close of business on the [30 Trading Days
following the Effective Date but not later than 13 months after the Initial
Exercise Date] (the "Termination Date") but not thereafter, to subscribe for and
purchase from Genio Group, Inc., a corporation incorporated in Delaware (the
"Company"), up to ____________ shares (the "Warrant Shares") of Common Stock,
par value $0.0001 per share, of the Company (the "Common Stock"). The purchase
price of one share of Common Stock (the "Exercise Price") under this Warrant
shall be $2.50 subject to adjustment hereunder. The Exercise Price and the
number of Warrant Shares for which this Warrant is exercisable shall be subject
to adjustment as provided herein. Capitalized terms used and not otherwise
defined herein shall have the meanings set forth in that certain Securities
Purchase Agreement (the "Purchase Agreement"), dated November __, 2003, between
the Company and the purchasers signatory thereto.

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            1. Title to Warrant. Prior to the Termination Date and subject to
compliance with applicable laws and Section 7 of this Warrant, this Warrant and
all rights hereunder are transferable, in whole or in part, at the office or
agency of the Company by the Holder in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto
properly endorsed. The transferee shall sign an investment letter in form and
substance reasonably satisfactory to the Company.

            2. Authorization of Warrant Shares. The Company represents and
warrants that all Warrant Shares which may be issued upon the exercise of the
purchase rights represented by this Warrant will, upon exercise of the purchase
rights represented by this Warrant, be duly authorized, validly issued, fully
paid and nonassessable and free from all taxes, liens and charges in respect of
the issue thereof (other than taxes in respect of any transfer occurring
contemporaneously with such issue).

            3. Exercise of Warrant.

            (a) Except as provided in Section 3 herein, exercise of the purchase
      rights represented by this Warrant may be made at any time or times on or
      after the Initial Exercise Date and on or before the Termination Date by
      the surrender of this Warrant and the Notice of Exercise Form annexed
      hereto complete and duly and validly executed, at the office of the
      Company (or such other office or agency of the Company as it may designate
      by notice in writing to the registered Holder at the address of such
      Holder appearing on the books of the Company) and upon payment of the
      Exercise Price of the shares thereby purchased by wire transfer or
      cashier's check drawn on a United States bank, the Holder shall be
      entitled to receive a certificate for the number of Warrant Shares so
      purchased. Certificates for shares purchased hereunder shall be delivered
      to the Holder within five (5) Trading Days after the date on which this
      Warrant shall have been exercised as aforesaid. The last date on which the
      Company has received this Warrant, the Exercise Price and a Notice of
      Exercise, and, in the case that the Holder has directed the Company to
      transfer any of the Warrant Shares to someone other than the Holder as the
      Holder appears on the books of the Company, duly and validly executed
      documents of transfer which are guaranteed, shall be deemed the "Date of
      Exercise." This Warrant shall be deemed to have been exercised and such
      certificate or certificates shall be deemed to have been issued, and
      Holder or any other person so designated to be named therein shall be
      deemed to have become a holder of record of such shares for all purposes,
      as of the Date of Exercise provided payment to the Company of the Exercise
      Price and all taxes required to be paid by the Holder, if any, pursuant to
      Section 5 prior to the issuance of such shares, have been paid. If the
      Company fails to deliver to the Holder a certificate or certificates
      representing the Warrant Shares pursuant to this Section 3(a) by the fifth
      Trading Day after the Date of Exercise, then the Holder will have the
      right to rescind such exercise. In addition to any other rights available
      to the Holder, if the Company fails to deliver to the Holder a certificate
      or certificates representing the Warrant Shares pursuant to an exercise in
      the manner set forth in the first sentence of Section 3(a) by the fifth
      Trading Day after the Date of Exercise and the Holder has not rescinded
      such exercise pursuant to this Section 3(a), and if after such fifth
      Trading Day

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      the Holder is required by its broker to purchase (in an open market
      transaction or otherwise) shares of Common Stock to deliver in
      satisfaction of a sale by the Holder of the Warrant Shares which the
      Holder anticipated receiving upon such exercise (a "Buy-In"), then the
      Company shall (1) pay in cash to the Holder the amount by which (x) the
      Holder's total purchase price (including brokerage commissions, if any)
      for the shares of Common Stock so purchased exceeds (y) the amount
      obtained by multiplying (A) the number of Warrant Shares that the Company
      was required to deliver to the Holder in connection with the exercise at
      issue times (B) the price at which the sell order giving rise to such
      purchase obligation was executed, and (2) at the option of the Holder,
      either reinstate the portion of the Warrant and equivalent number of
      Warrant Shares for which such exercise was not honored or deliver to the
      Holder the number of shares of Common Stock that would have been issued
      had the Company timely complied with its exercise and delivery obligations
      hereunder. For example, if the Holder purchases Common Stock having a
      total purchase price of $11,000 to cover a Buy-In with respect to an
      attempted exercise of shares of Common Stock with an aggregate sale price
      giving rise to such purchase obligation of $10,000, under clause (1) of
      the immediately preceding sentence the Company shall be required to pay
      the Holder $1,000. The Holder shall provide the Company written notice
      indicating the amounts payable to the Holder in respect of the Buy-In,
      together with applicable confirmations and other evidence reasonably
      requested by the Company. Nothing herein shall limit a Holder's right to
      pursue any other remedies available to it hereunder, at law or in equity
      including, without limitation, a decree of specific performance and/or
      injunctive relief with respect to the Company's failure to timely deliver
      certificates representing shares of Common Stock upon exercise of the
      Warrant as required pursuant to the terms hereof.

            (b) If this Warrant shall have been exercised in part, the Company
      shall, at the time of delivery of the certificate or certificates
      representing Warrant Shares, deliver to Holder a new Warrant evidencing
      the rights of Holder to purchase the unpurchased Warrant Shares called for
      by this Warrant, which new Warrant shall in all other respects be
      identical with this Warrant.

            (c) The Company shall not effect any exercise of this Warrant, and
      the Holder shall not have the right to exercise any portion of this
      Warrant, pursuant to Section 3(a) or otherwise, to the extent that after
      giving effect to such issuance after exercise, the Holder (together with
      the Holder's affiliates), as set forth on the applicable Notice of
      Exercise, would beneficially own in excess of 4.99% of the number of
      shares of the Common Stock outstanding immediately after giving effect to
      such issuance. For purposes of the foregoing sentence, the number of
      shares of Common Stock beneficially owned by the Holder and its affiliates
      shall include the number of shares of Common Stock issuable upon exercise
      of this Warrant with respect to which the determination of such sentence
      is being made, but shall exclude the number of shares of Common Stock
      which would be issuable upon (A) exercise of the remaining, nonexercised
      portion of this Warrant beneficially owned by the Holder or any of its
      affiliates and (B) exercise or conversion of the unexercised or
      nonconverted portion of any other securities of the Company (including,
      without limitation, any other Warrants) subject to a limitation on
      conversion or exercise analogous to the limitation contained herein
      beneficially owned by the Holder or any of its affiliates. Except as set
      forth in the preceding sentence, for

<PAGE>

      purposes of this Section 3(c), beneficial ownership shall be calculated in
      accordance with Section 13(d) of the Exchange Act. To the extent that the
      limitation contained in this Section 3(c) applies, the determination of
      whether this Warrant is exercisable (in relation to other securities owned
      by the Holder) and of which a portion of this Warrant is exercisable shall
      be in the sole discretion of such Holder, and the submission of a Notice
      of Exercise shall be deemed to be such Holder's determination of whether
      this Warrant is exercisable (in relation to other securities owned by such
      Holder) and of which portion of this Warrant is exercisable, in each case
      subject to such aggregate percentage limitation, and the Company shall
      have no obligation to verify or confirm the accuracy of such
      determination. For purposes of this Section 3(c), in determining the
      number of outstanding shares of Common Stock, the Holder may rely on the
      number of outstanding shares of Common Stock as reflected in (x) the
      Company's most recent Form 10-Q or Form 10-K, as the case may be, (y) a
      more recent public announcement by the Company or (z) any other notice by
      the Company or the Company's Transfer Agent setting forth the number of
      shares of Common Stock outstanding. Upon the written or oral request of
      the Holder, the Company shall within two Trading Days confirm orally and
      in writing to the Holder the number of shares of Common Stock then
      outstanding. In any case, the number of outstanding shares of Common Stock
      shall be determined after giving effect to the conversion or exercise of
      securities of the Company, including this Warrant, by the Holder or its
      affiliates since the date as of which such number of outstanding shares of
      Common Stock was reported. The provisions of this Section 3(c) may be
      waived by the Holder upon, at the election of the Holder, not less than 61
      days' prior notice to the Company, and the provisions of this Section 3(c)
      shall continue to apply until such 61st day (or such later date, as
      determined by the Holder, as may be specified in such notice of waiver).

            4. No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant. As to any fraction of a share which Holder would otherwise be entitled
to purchase upon such exercise, the Company shall pay a cash adjustment in
respect of such final fraction in an amount equal to such fraction multiplied by
the Exercise Price.

            5. Charges, Taxes and Expenses. Issuance of certificates for Warrant
Shares shall be made without charge to the Holder for any issue or transfer tax
or other incidental expense in respect of the issuance of such certificate, all
of which taxes and expenses shall be paid by the Company, and such certificates
shall be issued in the name of the Holder or in such name or names as may be
directed by the Holder; provided, however, that in the event certificates for
Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the
Assignment Form attached hereto duly executed by the Holder; and the Company may
require, as a condition thereto, the payment of a sum sufficient to reimburse it
for any transfer tax incidental thereto.

            6. Closing of Books. The Company will not close its stockholder
books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

<PAGE>

            7. Transfer, Division and Combination.

            (a) Subject to compliance with any applicable securities laws and
      the conditions set forth in Sections 1 and 7(f) hereof and to the
      provisions of Section 4.1 of the Purchase Agreement, this Warrant and all
      rights hereunder are transferable, in whole or in part, upon surrender of
      this Warrant at the principal office of the Company, together with a
      written assignment of this Warrant substantially in the form attached
      hereto duly executed by the Holder or its agent or attorney and funds
      sufficient to pay any transfer taxes payable upon the making of such
      transfer. Upon such surrender and, if required, such payment, the Company
      shall execute and deliver a new Warrant or Warrants in the name of the
      assignee or assignees and in the denomination or denominations specified
      in such instrument of assignment, and shall issue to the assignor a new
      Warrant evidencing the portion of this Warrant not so assigned, and this
      Warrant shall promptly be cancelled. A Warrant, if properly assigned, may
      be exercised by a new holder for the purchase of Warrant Shares without
      having a new Warrant issued.

            (b) This Warrant may be divided or combined with other Warrants upon
      presentation hereof at the aforesaid office of the Company, together with
      a written notice specifying the names and denominations in which new
      Warrants are to be issued, signed by the Holder or its agent or attorney.
      Subject to compliance with Section 7(a), as to any transfer which may be
      involved in such division or combination, the Company shall execute and
      deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
      to be divided or combined in accordance with such notice.

            (c) The Company shall prepare, issue and deliver at its own expense
      (other than transfer taxes) the new Warrant or Warrants under this Section
      7.

            (d) The Company agrees to maintain, at its aforesaid office, books
      for the registration and the registration of transfer of the Warrants.

            (e) If, at the time of the surrender of this Warrant in connection
      with any transfer of this Warrant, the transfer of this Warrant shall not
      be registered pursuant to an effective registration statement under the
      Securities Act and under applicable state securities or blue sky laws, the
      Company may require, as a condition of allowing such transfer (i) that the
      Holder or transferee of this Warrant, as the case may be, furnish to the
      Company a written opinion of counsel (which opinion shall be in form,
      substance and scope customary for opinions of counsel in comparable
      transactions) to the effect that such transfer may be made without
      registration under the Securities Act and under applicable state
      securities or blue sky laws, (ii) that the holder or transferee execute
      and deliver to the Company an investment letter in form and substance
      acceptable to the Company and (iii) that the transferee be an "accredited
      investor" as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8)
      promulgated under the Securities Act or a qualified institutional buyer as
      defined in Rule 144A(a) under the Securities Act.

            8. No Rights as Shareholder until Exercise. This Warrant does not
entitle the Holder to any voting rights or other rights as a shareholder of the
Company prior to the exercise hereof. Upon the surrender of this Warrant and the
payment of the aggregate Exercise Price (or

<PAGE>

by means of a cashless exercise), the Warrant Shares so purchased shall be and
be deemed to be issued to such Holder as the record owner of such shares as of
the close of business on the later of the date of such surrender or payment.

            9. Loss, Theft, Destruction or Mutilation of Warrant. The Company
covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any stock
certificate relating to the Warrant Shares, and in case of loss, theft or
destruction, of indemnity or security reasonably satisfactory to it (which, in
the case of the Warrant, shall not include the posting of any bond), and upon
surrender and cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock certificate of like
tenor and dated as of such cancellation, in lieu of such Warrant or stock
certificate.

            10. Saturdays, Sundays, Holidays, etc. If the last or appointed day
for the taking of any action or the expiration of any right required or granted
herein shall be a Saturday, Sunday or a legal holiday, then such action may be
taken or such right may be exercised on the next succeeding Trading Day.

            11. Adjustments of Exercise Price and Number of Warrant Shares. The
number and kind of securities purchasable upon the exercise of this Warrant and
the Exercise Price shall be subject to adjustment from time to time upon the
happening of any of the following. In case the Company shall (i) pay a dividend
in shares of Common Stock or make a distribution in shares of Common Stock to
holders of its outstanding Common Stock, (ii) subdivide its outstanding shares
of Common Stock into a greater number of shares, (iii) combine its outstanding
shares of Common Stock into a smaller number of shares of Common Stock, or (iv)
issue any shares of its capital stock in a reclassification of the Common Stock,
then the number of Warrant Shares purchasable upon exercise of this Warrant
immediately prior thereto shall be adjusted so that the Holder shall be entitled
to receive the kind and number of Warrant Shares or other securities of the
Company which it would have owned or have been entitled to receive had such
Warrant been exercised in advance thereof. Upon each such adjustment of the kind
and number of Warrant Shares or other securities of the Company which are
purchasable hereunder, the Holder shall thereafter be entitled to purchase the
number of Warrant Shares or other securities resulting from such adjustment at
an Exercise Price per Warrant Share or other security obtained by multiplying
the Exercise Price in effect immediately prior to such adjustment by the number
of Warrant Shares purchasable pursuant hereto immediately prior to such
adjustment and dividing by the number of Warrant Shares or other securities of
the Company resulting from such adjustment. An adjustment made pursuant to this
paragraph shall become effective immediately after the effective date of such
event retroactive to the record date, if any, for such event.

            12. Reorganization, Reclassification, Merger, Consolidation or
Disposition of Assets. In case the Company shall reorganize its capital,
reclassify its capital stock, consolidate or merge with or into another
corporation (where the Company is not the surviving corporation or where there
is a change in or distribution with respect to the Common Stock of the Company),
or sell, transfer or otherwise dispose of all or substantially all its property,
assets or business to another corporation and, pursuant to the terms of such
reorganization, reclassification, merger, consolidation or disposition of
assets, shares of common stock of the successor or acquiring corporation, or any
cash, shares of stock or other securities or property of any nature whatsoever

<PAGE>

(including warrants or other subscription or purchase rights) in addition to or
in lieu of common stock of the successor or acquiring corporation ("Other
Property"), are to be received by or distributed to the holders of Common Stock
of the Company, then the Holder shall have the right thereafter to receive, at
the option of the Holder, (a) upon exercise of this Warrant, the number of
shares of Common Stock of the successor or acquiring corporation or of the
Company, if it is the surviving corporation, and Other Property receivable upon
or as a result of such reorganization, reclassification, merger, consolidation
or disposition of assets by a Holder of the number of shares of Common Stock for
which this Warrant is exercisable immediately prior to such event or (b) cash
equal to the value of this Warrant as determined in accordance with the
Black-Scholes option pricing formula. In case of any such reorganization,
reclassification, merger, consolidation or disposition of assets, the successor
or acquiring corporation (if other than the Company) shall expressly assume the
due and punctual observance and performance of each and every covenant and
condition of this Warrant to be performed and observed by the Company and all
the obligations and liabilities hereunder, subject to such modifications as may
be deemed appropriate (as determined in good faith by resolution of the Board of
Directors of the Company) in order to provide for adjustments of Warrant Shares
for which this Warrant is exercisable which shall be as nearly equivalent as
practicable to the adjustments provided for in this Section 12. For purposes of
this Section 12, "common stock of the successor or acquiring corporation" shall
include stock of such corporation of any class which is not preferred as to
dividends or assets over any other class of stock of such corporation and which
is not subject to redemption and shall also include any evidences of
indebtedness, shares of stock or other securities which are convertible into or
exchangeable for any such stock, either immediately or upon the arrival of a
specified date or the happening of a specified event and any warrants or other
rights to subscribe for or purchase any such stock. The foregoing provisions of
this Section 12 shall similarly apply to successive reorganizations,
reclassifications, mergers, consolidations or disposition of assets.

            13. Voluntary Adjustment by the Company. The Company may at any time
during the term of this Warrant reduce the then current Exercise Price to any
amount and for any period of time deemed appropriate by the Board of Directors
of the Company.

            14. Notice of Adjustment. Whenever the number of Warrant Shares or
number or kind of securities or other property purchasable upon the exercise of
this Warrant or the Exercise Price is adjusted, as herein provided, the Company
shall give notice thereof to the Holder, which notice shall state the number of
Warrant Shares (and other securities or property) purchasable upon the exercise
of this Warrant and the Exercise Price of such Warrant Shares (and other
securities or property) after such adjustment, setting forth a brief statement
of the facts requiring such adjustment and setting forth the computation by
which such adjustment was made.

            15. Notice of Corporate Action. If at any time:

            (a) the Company shall take a record of the holders of its Common
      Stock for the purpose of entitling them to receive a dividend or other
      distribution, or any right to subscribe for or purchase any evidences of
      its indebtedness, any shares of stock of any class or any other securities
      or property, or to receive any other right, or

<PAGE>

            (b) there shall be any capital reorganization of the Company, any
      reclassification or recapitalization of the capital stock of the Company
      or any consolidation or merger of the Company with, or any sale, transfer
      or other disposition of all or substantially all the property, assets or
      business of the Company to, another corporation or,

            (c) there shall be a voluntary or involuntary dissolution,
      liquidation or winding up of the Company;

then, in any one or more of such cases, the Company shall give to Holder (i) at
least 10 days' prior written notice of the date on which a record date shall be
selected for such dividend, distribution or right or for determining rights to
vote in respect of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, liquidation or winding up, and (ii)
in the case of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, dissolution, liquidation or winding up, at least 10
days' prior written notice of the date when the same shall take place. Such
notice in accordance with the foregoing clause also shall specify (i) the date
on which any such record is to be taken for the purpose of such dividend,
distribution or right, the date on which the holders of Common Stock shall be
entitled to any such dividend, distribution or right, and the amount and
character thereof, and (ii) the date on which any such reorganization,
reclassification, merger, consolidation, sale, transfer, disposition,
dissolution, liquidation or winding up is to take place and the time, if any
such time is to be fixed, as of which the holders of Common Stock shall be
entitled to exchange their Shares for securities or other property deliverable
upon such disposition, dissolution, liquidation or winding up. Each such written
notice shall be sufficiently given if addressed to Holder at the last address of
Holder appearing on the books of the Company and delivered in accordance with
Section 17(d).

            16. Authorized Shares. The Company covenants that during the period
the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the
Warrant Shares upon the exercise of any purchase rights under this Warrant. The
Company further covenants that its issuance of this Warrant shall constitute
full authority to its officers who are charged with the duty of executing stock
certificates to execute and issue the necessary certificates for the Warrant
Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such
Warrant Shares may be issued as provided herein without violation of any
applicable law or regulation, or of any requirements of the Trading Market upon
which the Common Stock may be listed.

            Except and to the extent as waived or consented to by the Holder,
the Company shall not by any action, including, without limitation, amending its
certificate of incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms of this Warrant, but will at all times in good faith assist in the
carrying out of all such terms and in the taking of all such actions as may be
necessary or appropriate to protect the rights of Holder as set forth in this
Warrant against impairment. Without limiting the generality of the foregoing,
the Company will (a) not increase the par value of any Warrant Shares above the
amount payable therefor upon such exercise

<PAGE>

immediately prior to such increase in par value, (b) take all such action as may
be necessary or appropriate in order that the Company may validly and legally
issue fully paid and nonassessable Warrant Shares upon the exercise of this
Warrant, and (c) use commercially reasonable efforts to obtain all such
authorizations, exemptions or consents from any public regulatory body having
jurisdiction thereof as may be necessary to enable the Company to perform its
obligations under this Warrant.

            Before taking any action which would result in an adjustment in the
number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions
thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.

            17. Miscellaneous.

            (a) Jurisdiction. This Warrant shall constitute a contract under the
      laws of Delaware, without regard to its conflict of law, principles or
      rules.

            (b) Restrictions. The Holder acknowledges that the Warrant Shares
      acquired upon the exercise of this Warrant, if not registered, will have
      restrictions upon resale imposed by state and federal securities laws.

            (c) Nonwaiver and Expenses. No course of dealing or any delay or
      failure to exercise any right hereunder on the part of Holder shall
      operate as a waiver of such right or otherwise prejudice Holder's rights,
      powers or remedies, notwithstanding all rights hereunder terminate on the
      Termination Date. If the Company willfully and knowingly fails to comply
      with any provision of this Warrant, which results in any material damages
      to the Holder, the Company shall pay to Holder such amounts as shall be
      sufficient to cover any costs and expenses including, but not limited to,
      reasonable attorneys' fees, including those of appellate proceedings,
      incurred by Holder in collecting any amounts due pursuant hereto or in
      otherwise enforcing any of its rights, powers or remedies hereunder.

            (d) Notices. Any notice, request or other document required or
      permitted to be given or delivered to the Holder by the Company shall be
      delivered in accordance with the notice provisions of the Purchase
      Agreement.

            (e) Limitation of Liability. No provision hereof, in the absence of
      any affirmative action by Holder to exercise this Warrant or purchase
      Warrant Shares, and no enumeration herein of the rights or privileges of
      Holder, shall give rise to any liability of Holder for the purchase price
      of any Common Stock or as a stockholder of the Company, whether such
      liability is asserted by the Company or by creditors of the Company.

            (f) Remedies. Holder, in addition to being entitled to exercise all
      rights granted by law, including recovery of damages, will be entitled to
      specific performance of its rights under this Warrant. The Company agrees
      that monetary damages would not be adequate compensation for any loss
      incurred by reason of a breach by it of the

<PAGE>

      provisions of this Warrant and hereby agrees to waive the defense in any
      action for specific performance that a remedy at law would be adequate.

            (g) Successors and Assigns. Subject to applicable securities laws,
      this Warrant and the rights and obligations evidenced hereby shall inure
      to the benefit of and be binding upon the successors of the Company and
      the successors and permitted assigns of Holder. The provisions of this
      Warrant are intended to be for the benefit of all Holders from time to
      time of this Warrant and shall be enforceable by any such Holder or holder
      of Warrant Shares.

            (h) Amendment. This Warrant may be modified or amended or the
      provisions hereof waived with the written consent of the Company and the
      Holder.

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

            (j) Headings. The headings used in this Warrant are for the
      convenience of reference only and shall not, for any purpose, be deemed a
      part of this Warrant.

                              ********************

<PAGE>

            IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed by its officer thereunto duly authorized.

Dated: November __, 2003                Genio Group, Inc.

                                        By:_____________________________________
                                           Name:
                                           Title:

<PAGE>

                               NOTICE OF EXERCISE

To:   Genio Group, Inc.

            (1) The undersigned hereby elects to purchase ________ Warrant
Shares of Genio Group, Inc. pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in
full, together with all applicable transfer taxes, if any.

            (2) Please issue a certificate or certificates representing said
Warrant Shares in the name of the undersigned or in such other name as is
specified below:

                  ____________________________________

The Warrant Shares shall be delivered to the following:

                  ____________________________________

                  ____________________________________

                  ____________________________________

            (4) Accredited Investor/Qualified Institutional Buyer. The
undersigned is an "accredited investor" as defined in Regulation D under the
Securities Act of 1933, as amended.

                                        [PURCHASER]

                                        By:_____________________________________
                                           Name:
                                           Title:

                                        Dated:__________________________________

<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

            FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
thereby are hereby assigned to

_______________________________________________ whose address is

_______________________________________________________________.

_______________________________________________________________

                                                 Dated:  ______________, _______

                  Holder's Signature:_______________________________

                  Holder's Address:_________________________________

                                   _________________________________

Signature Guaranteed:___________________________________________

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by an eligible guarantor institution
(banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program), pursuant to
S.E.C. Rule 17Ad-15. Officers of corporations and those acting in a fiduciary or
other representative capacity should file proper evidence of authority to assign
the foregoing Warrant.Exhibit 10.12

                                ESCROW AGREEMENT

      ESCROW AGREEMENT dated as of July 21, 2003, by and among Sommer &
Schneider LLP, as escrow agent ("Escrow Agent"), Tele-V, Inc., a New York
corporation whose principal business address is 1120 Avenue of the Americas,
Suite 4020, New York, New York 10019 ("Tele") and its subsidiaries and
affiliates--Genio Cards LLC, Tele-V, LLC, and Tele-V Media LLC, each a Delaware
limited liability company with a principal business address located at 1120
Avenue of the Americas, Suite 4020, New York, New York 10019 ("Genio", "TVLLC"
and "TV Media", respectively, and collectively with Tele, "TV") and Shai
Bar-Lavi, an officer, director and significant shareholder of Tele (the
"Principal Seller") and the remaining stockholders of Tele whose names are set
forth on the signature pages annexed hereto and National Management Consulting,
Inc., a Delaware corporation whose principal business address is 545 Madison
Avenue, 6th Floor, New York, New York 10022 ("National").

                                   WITNESSETH

      WHEREAS, the Principal Seller and the remaining shareholders of Tele
(collectively, the "Sellers") are the owners of all of the issued and
outstanding common stock of Tele (the "Tele Common Stock") and Tele is the sole
member of Genio, TVLLC and TV Media, respectively (the "Genio Membership
Interests", the "TVLLC Membership Interests", and the "TV Media Membership
Interests", respectively and collectively, the "Membership Interests"); and

      WHEREAS, Tele and the Principal Seller and National are parties to that
certain Stock Purchase Agreement dated as of July 9, 2003 (the "Purchase
Agreement"), pursuant to which National has agreed to acquire all of the Tele
Common Stock in exchange for common stock of National as more fully set forth in
the Purchase Agreement (collectively, the "Acquisition"); and

      WHEREAS, the Purchase Agreement provides for the establishment of an
escrow account for the escrowing of certain shares of the National common stock
to be issued in connection with the Acquisition with an escrow agent for
potential release to the Sellers in the event that the business of TV (the
"Business") attains certain revenue and EBITDA targets during prescribed
periods; and

      WHEREAS, the Escrow Agent has agreed to act as the escrow agent with
respect to the shares of National common stock to be escrowed in accordance with
the Purchase Agreement on the terms set forth herein.

      NOW, THEREFORE, for good and valuable consideration, the adequacy and
receipt of which are hereby acknowledged, the parties do hereby agree as
follows:

      1.    Definitions. All capitalized terms not otherwise defined herein
            shall have the meanings ascribed to them in the Purchase Agreement.

                                       1
<PAGE>

      2.    Appointment. The Escrow Agent shall act as the escrow agent as set
            forth herein, and as such shall receive, acknowledge receipt,
            retain, release and deliver the Escrowed Shares on the terms, and
            subject to the conditions, set forth herein.

      3.    Rights, Duties and Immunities.

            (a)   The duties and obligations of the Escrow Agent shall be
                  determined solely by the express provisions of this Agreement.
                  The Escrow Agent shall not be liable except for the
                  performance of such duties and obligations as are specifically
                  set out in this Agreement, and the Escrow Agent shall not be
                  deemed to have any knowledge of, or responsibility for, the
                  terms of any other agreement, instrument or document.

            (b)   The Escrow Agent shall not be responsible in any manner
                  whatsoever for any failure or inability of any party hereto,
                  or of any one else, to deliver documents to the Escrow Agent
                  or otherwise to honor any of the provisions of this Agreement
                  or otherwise.

            (c)   Except as provided in Section 7(b) below, the Tele, Genio,
                  TVLLC, TV Media, the Principal Seller and National will
                  indemnify the Escrow Agent for, and defend and hold it
                  harmless against, any loss, liability or expense (including
                  but not limited to attorneys' fees and disbursements) arising
                  out of or in connection with, its acceptance of or the
                  performance of its duties and obligations under or the
                  interpretation of this Agreement; provided, however, that this
                  Section 3(c) shall not apply to losses, liabilities and
                  expenses caused by the bad faith, willful misconduct or gross
                  negligence of the Escrow Agent.

            (d)   The Escrow Agent shall be entitled to rely upon any judgment,
                  certification, demand, notice, instrument or other writing
                  delivered to it hereunder without being required to determine
                  the authenticity or the correctness of any fact stated therein
                  or the propriety or validity or the service thereof. The
                  Escrow Agent shall be fully protected in acting on and relying
                  upon any written notice, direction, request, waiver, consent,
                  receipt or other paper or document which the Escrow Agent
                  believes to be genuine. The Escrow Agent may act in reliance
                  upon any instrument or signature it reasonably believes to be
                  genuine and the Escrow Agent may assume that any person
                  purporting to give any advice or make any statement in
                  connection with the provisions hereof has been duly authorized
                  to do so.

            (e)   The Escrow Agent shall not be liable for any error of
                  judgment, or

                                       2
<PAGE>

                  for any act done or step taken or omitted by it in good faith,
                  or for any mistake of fact or law, or for anything which it
                  may do or refrain from doing in connection herewith, except
                  its own bad faith, willful misconduct or gross negligence.

            (f)   The Escrow Agent may seek the advice of legal counsel as to
                  any question arising from or relating to the construction of
                  any of the provisions of this Agreement or its duties or
                  obligations hereunder or otherwise, and it shall incur no
                  liability and shall be fully protected in respect of any
                  action taken, omitted or suffered by it in good faith in
                  accordance with the advice of such counsel.

            (g)   The Escrow Agent does not make and will not be required or
                  deemed to make any representation as to the validity or
                  genuineness of any agreement, document or other instrument
                  held by or delivered to it.

            (h)   If a dispute arises between one or more of the parties hereto,
                  or between any of the parties hereto and any person not a
                  party hereto, as to whether or not or to whom the Escrow Agent
                  shall deliver any of the Escrowed Shares or as to any other
                  matter arising from or relating to the Escrowed Shares or this
                  Agreement, the Escrow Agent shall not be required to determine
                  such dispute and need not make any delivery of any of the
                  Escrowed Shares, but will retain the same until the rights of
                  the parties to the dispute shall have finally been determined
                  by written agreement among the parties to the dispute or by
                  final non-appealable order of a court of competent
                  jurisdiction. In the event that the Escrow Agent has received
                  notice of such order or any such agreement, the Escrow Agent
                  shall cause the Escrowed Shares to be released and delivered
                  in accordance with such agreement or order and in accordance
                  with Section 5 below.

            (i)   The Escrow Agent shall be entitled to assume that no dispute
                  of the type referred to in Section 3(h) has arisen unless it
                  has received a written notice that such a dispute has arisen,
                  which written notice refers specifically to this Agreement and
                  identifies by name and address the adverse claimants in such
                  dispute. Any party delivering written notice of a dispute
                  pursuant to this Section 3(i) shall simultaneously therewith
                  deliver a copy of such notice to all parties hereto in
                  accordance with Section 10 hereof, with such copies to such
                  persons as are specified therein. For purposes of this Section
                  3(i), the Escrow Agent shall not be deemed to have received a
                  written notice until all parties to this Agreement have
                  received such written notice. If a dispute of the type
                  referred to in Section 3(h) arises, the Escrow Agent may, in
                  its sole discretion

                                       3
<PAGE>

                  (but shall not be obligated to), commence interpleader or
                  similar actions or proceedings for determination of such
                  dispute.

      4.    Delivery to Escrow of the Escrowed Shares.

            (a)   At the closing of the Acquisition (the "Acquisition Closing"),
                  2,157,667 shares of National common stock (the "Escrowed
                  Shares") shall be escrowed with the Escrow Agent.

      5.    Release of Escrow. The Escrow Agent shall hold, release and deliver
            the Escrowed Shares as follows:

            (a)   If at any time the Escrow Agent receives a written
                  certification from the chief financial officer of National or
                  from the Accounting Firm authorizing the release of some or
                  all of the Escrowed Shares, then the Escrow Agent shall
                  deliver the amount of Escrowed Shares set forth in such
                  certification (the "Certification") to the Sellers with each
                  Seller to receive the percentages of the Escrowed Shares as
                  set forth in Schedule A annexed hereto so long as the Escrow
                  Agent does not receive an objection from National within three
                  business days of the Escrow Agent giving National written
                  notice of its receipt of the Certification.

            (b)   In the event that National raises an objection to the release
                  of any of the Escrowed Shares, the Escrow Agent shall release
                  such of the Escrowed Shares, if any, as are not in controversy
                  and shall continue to hold the remaining Escrowed Shares until
                  it receives the joint written instructions of National and
                  Tele.

            (c)   Any party delivering written instructions or objections
                  pursuant to Sections 5(a) or (b) above to the Escrow Agent
                  shall, simultaneously therewith, deliver a copy of such
                  instructions to all other parties at their respective
                  addresses set forth in Section 10 below, with such copies to
                  such persons as are specified therein. For purposes of
                  Sections 5(a) or (b), written instructions or objections shall
                  not be deemed to have been received by the Escrow Agent until
                  such time as a copy thereof has been received by each party
                  hereto other than the party delivering such instructions. In
                  addition, the Escrow Agent shall deliver a copy of each such
                  instructions and objections to the other parties.

            (d)   Upon receipt of a Certification that all of the Escrowed
                  Shares may be released to the Sellers, and the absence of any
                  objection thereto as provided in Section 5(a) above, the
                  Escrow Agent shall promptly transmit the Escrowed Shares then
                  in its possession to the Sellers and the escrow account shall
                  be terminated with no further action required by any party
                  hereto.

                                       4
<PAGE>

            (e)   In the event that any Escrowed Shares are not released to the
                  Sellers after the expiration of the Second Period in
                  accordance with the provisions of this Section 5, such
                  Escrowed Shares shall be deemed to be forfeited and all
                  forfeited Escrowed Shares shall be delivered by the Escrow
                  Agent to National for cancellation.

      6.    Successor Escrow Agent.

            (a)   The Escrow Agent may, at any time, resign as such with or
                  without the prior written consent of all the parties hereto,
                  in which case the Escrow Agent (and any successor escrow
                  agent) shall deliver the Escrowed Shares to any successor
                  escrow agent jointly designated by National and the Sellers in
                  writing, or to any court of competent jurisdiction, whereupon
                  the Escrow Agent shall be discharged of and from any and all
                  further duties and obligations arising in connection with this
                  Agreement. The resignation of the Escrow Agent shall take
                  effect on the earlier of (i) the appointment of a successor
                  escrow agent, or (ii) the day which is 30 days after the date
                  of the delivery of the Escrowed Shares and a copy of this
                  Agreement to any court of competent jurisdiction. In the event
                  that a successor escrow agent has not been appointed at the
                  expiration of such 30-day period, the Escrow Agent's sole
                  responsibilities hereunder shall be: (i) to maintain the
                  safekeeping of the Escrowed Shares and any other documents
                  delivered to it hereunder, if any, and (ii) to release and
                  deliver the Escrowed Shares and any such documents in
                  accordance with Section 5 of this Agreement.

            (b)   If the Escrow Agent receives a written notice signed by
                  National and the Sellers stating that they have selected a
                  successor escrow agent, the Escrow Agent shall deliver the
                  Escrowed Shares (and any other documents then held by it
                  hereunder, if any) to the successor escrow agent named in the
                  aforesaid notice within 15 days after receipt of such written
                  notice.

      7.    Fees and Costs of the Escrow Agent.

            (a)   The Escrow Agent shall be entitled to the reimbursement of any
                  reasonable expenses (including but not limited to attorneys'
                  fee and disbursements) actually incurred by it in the
                  performance of its duties hereunder. Without limiting any
                  other provision of this Agreement, the amount of such
                  reimbursements will be borne by National, except as provided
                  in paragraph 7(b) below.

            (b)   Notwithstanding any provision in this Agreement to the
                  contrary, if National, Tele, Genio, TVLLC, TV Media or the
                  Sellers are determined to be in breach of or default under any
                  of the

                                       5
<PAGE>

                  provisions hereof, or has been determined by a court of
                  competent jurisdiction to have delivered any written notice or
                  instructions in bad faith or containing untrue statements,
                  then such party shall bear: (i) all the costs and expenses of
                  the Escrow Agent required to be paid by any party hereunder,
                  and (ii) all costs and expenses (including but not limited to
                  attorneys' fees and disbursements) incurred by each other
                  party as a result of, or in connection with, such breach,
                  default or dispute, or written notice or instruction;
                  provided, however, that the foregoing shall not affect the
                  Escrow Agent's right to seek payment from any party hereunder.

         8.       Voting Rights and/or Dividends. Notwithstanding any provision
                  to the contrary in this Agreement or elsewhere, during the
                  time that the Escrowed Shares are held in escrow by the Escrow
                  Agent in accordance with this Agreement, Sellers or their
                  designees shall be entitled to exercise any and all voting
                  and/or other consensual rights accruing to the owner thereof
                  and to receive all dividends and other distributions made
                  thereupon.

         9.       Construction. This Agreement shall be governed by and
                  construed and enforced in accordance with the laws of the
                  State of New York, without regard to such State's principles
                  of conflicts of law.

         10.      Notices. All notices, demands, requests, consents, approvals,
                  reports or other communications required or permitted to be
                  given pursuant to this Agreement shall be in writing and if
                  such notice is given pursuant to Section 5 hereof, such notice
                  shall be delivered to the following addresses (or such other
                  address as the recipient party may hereafter specify in the
                  same manner):

                  To National:                National Management Consulting,
                                                Inc.
                                              545 Madison Avenue, 6th Floor
                                              New York, New York   10022
                                              Steven A. Horowitz, President
                  Facsimile:                  (212) 755-6660

                  With a Copy To:             John D'Angelo, Esq.
                                              C/o Adelphia Capital LLCi;pitc
                                              545 Madison Avenue, 6th  Floor
                                              New York, New York  10019
                  Facsimile:                  (212) 755-6660

                                       6
<PAGE>

                  To Tele, Genio, TVLLC,
                  TV Media and Sellers:       Shai Bar-Lavi
                                              c/o Tele-V, Inc.
                                              1126 Avenue of the Americas,
                                              Suite 4020
                                              New York, New York 10019
                  Facsimile:                  (212) 626-6703

                  To Escrow Agent:            Sommer & Schneider LLP
                                              595 Stewart Avenue, Suite 710
                                              Garden City, NY  11530
                                              Attn:  Herbert H. Sommer
                  Facsimile:                  (516) 228-8211

      Except as otherwise provided in Sections 3(i) and 5(c) hereof, all such
instructions, objections, notices, requests, consents and other communications,
if sent via facsimile shall be deemed to have been given when received, if sent
by overnight courier shall be deemed to have been given one (1) business day
after deposit with such overnight courier and if sent via U.S. mail, shall be
deemed to have been given three (3) business days after deposit in a U.S. postal
depository, certified mail, return receipt requested.

      11.   Sommer & Schneider LLP.

            (a)   Each party acknowledges that Sommer & Schneider LLP has acted
                  as legal counsel to and representative of National and its
                  respective affiliates and agrees that such counsel and
                  representation do not and will not constitute a grounds for
                  disqualifying Sommer & Schneider LLP from acting as Escrow
                  Agent hereunder.

            (b)   Notwithstanding anything to contrary contained herein, it is
                  expressly understood by the parties hereto that the Escrow
                  Agent, in that capacity, at any time that it is required or
                  permitted to seek legal counsel under this Agreement, may seek
                  such legal counsel from Sommer & Schneider LLP, and that
                  either National or Tele, Genio, TVLLC, TV Media or the Sellers
                  will be liable (as provided in Sections 3(c), 7(a) and 7(b))
                  to Sommer & Schneider LLP for any services performed and
                  billed to the Escrow Agent by Sommer & Schneider LLP at its
                  customary hourly rates and all of Sommer & Schneider LLP's
                  disbursements in connection with the provision of such
                  services.

      12.   Headings. The headings of the sections of this Agreement are
            inserted as a matter of convenience and for reference purposes only,
            are of no binding effect, and in no respect define, limit or
            describe the scope of this

                                       7
<PAGE>

            Agreement or the intent of any section.

      13.   Counterparts. This Agreement may be signed in any number of
            counterparts with the same effect as if the signatures to each were
            upon the same instrument.

      14.   Entire Agreement. This Agreement represents the entire understanding
            and agreement between the parties with respect to the subject matter
            hereof, supersedes all prior negotiations between the parties, and
            can be amended, modified, supplemented, extended, terminated,
            discharged or changed only by an agreement in writing which makes
            specific reference to this Agreement and which is signed by all
            parties.

      15.   Successors and Assigns. This Agreement shall be binding upon and
            inure solely to the benefit of the parties and their respective
            permitted successors and assigns and shall not be enforceable by or
            create or evidence any right of any third party. Sellers shall be
            entitled to assign this Escrow Agreement and all of their rights,
            privileges, interests, and remedies hereunder to any other person,
            firm, entity, bank, or corporation whatsoever without notice to or
            consent by National and such assignee shall be entitled to the
            benefits of this Escrow Agreement and to exercise all such rights,
            interests, and remedies as fully as the Sellers. National may not
            assign this Escrow Agreement without the express written consent of
            the Sellers which may be withheld in its sole discretion.

      16.   Severability. Any provision of this Agreement that may be determined
            by a court of competent jurisdiction to be prohibited or
            unenforceable in any jurisdiction shall, as to such jurisdiction, be
            ineffective to the extent of such prohibition or unenforceability
            without invalidating the remaining provisions hereof, and any such
            prohibition or unenforceability in any jurisdiction shall not
            invalidate or render unenforceable such provision in any other
            jurisdiction. It is expressly understood, however, that the parties
            intend each and every provision of this Agreement to be valid and
            enforceable and hereby knowingly waive all rights to object to any
            provision of this Agreement.

      17.   Further Assurances. Each of the parties agrees that it shall use its
            good faith efforts to take, or cause to be taken, all action and to
            do, or cause to be done, all things necessary to consummate and make
            effective this Agreement.

                                       8
<PAGE>

      [SIGNATURE PAGE TO ESCROW AGREEMENT]

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

                                              Sommer & Schneider LLP
                                              As Escrow Agent

                                              By:_______________________________
                                                 Herbert Sommer, Esq.

                                              NATIONAL MANAGEMENT
                                              CONSULTING, INC.

                                              By: /s/ Steven A. Horowitz
                                                 -------------------------------
                                              Name:  Steven A. Horowitz
                                              Title:    President and Chairman

                                              TELE-V, INC.

                                              By: /s/ Shai Bar-Lavi
                                                 -------------------------------
                                              Name:  Shai Bar-Lavi
                                              Title:    President

                                              PRINCIPAL SHAREHOLDER OF TELE-V,
                                                INC.

                                              By: /s/ Shai Bar-Lavi
                                                 -------------------------------
                                                       Shai Bar-Lavi

                                              REMAINING SHAREHOLDERS OF TELE-V,
                                                INC.

                                              /s/ Anna Sachs Bar-Lavi
                                              ----------------------------------
                                              Anna Sachs Bar-Lavi

                                              /s/ Shai Bar-Lavi
                                              ----------------------------------
                                              Shai Bar-Lavi as
                                              co-trustee for Gabriella Sachs
                                                Bar-Lavi

                                       9
<PAGE>

[CONTINUED SIGNATURE PAGE TO ESCROW AGREEMENT]

                                              /s/ Anna Sachs Bar-Lavi
                                              ----------------------------------
                                              Anna Sachs Bar-Lavi as co-trustee
                                              For Gabriella Sachs Bar-Lavi

                                              /s/ Shai Bar-Lavi
                                              ----------------------------------
                                              Shai Bar-Lavi as
                                              cotrustee for Michael Sachs
                                              Bar-Lavi

                                              /s/ Anna Sachs Bar-Lavi
                                              ----------------------------------
                                              Anna Sachs Bar-Lavi as co-trustee
                                              For Michael Sachs Bar-Lavi

                                              /s/ Shai Bar-Lavi
                                              ----------------------------------
                                              Shai Bar-Lavi as co-trustee for
                                              Daniel Sachs Bar-Lavi

                                              /s/ Anna Sachs
                                              ----------------------------------
                                              Anna Sachs
                                              Bar-Lavi as co-trustee
                                              for Daniel Sachs Bar-Lavi

                                              /s/ Shai Bar-Lavi
                                              ----------------------------------
                                              Shai Bar-Lavi as trustee for
                                              JEG Group Ltd.

                                              /s/ Shai Bar-Lavi
                                              ----------------------------------
                                              Shai Bar-Lavi as trustee for
                                              JEG Group Ltd.

                                              /s/ Shai Bar-Lavi
                                              ----------------------------------
                                              Shai Bar-Lavi as trustee for
                                              JEG Group Ltd.

                                       10
<PAGE>

                                   SCHEDULE A

The percentage ownership of the Escrow Shares is as follows:

      Shareholder                                                 % ownership
      -----------                                                 -----------

      Shai Bar-Lavi                                                   5%
      Anna Sachs Bar-Lavi                                            12.5%
      Shai Bar Lavi and Anna Sachs
      Bar-Lavi, as co-trustees for
      Gabriella Sachs Bar-Lavi                                        2.5%
      Shai Bar-Lavi and Anna Sachs
      Bar-Lavi, as co-trustees for
      Michael Sachs Bar-Lavi                                          2.5%
      Shai Bar-Lavi and Anna Sachs
      Bar-Lavi, as co-trustees for
      Daniel Sachs Bar-Lavi                                           2.5%
      Shai Bar-Lavi, as trustee for
      JEG Group Ltd.                                                   25%
      Shai Bar-Lavi, as trustee for
      JEG Group Ltd.                                                   25%
      Shai Bar-Lavi, as trustee for
      JEG Group Ltd.                                                   25%

                                       11

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