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DOCUMENT TITLE:  SECURED CONVERTIBLE PROMISSORY NOTE .
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Clause Heading
1.1 - Interest Rate.
1.2 - Payment Grace Period.
1.3 - Conversion Privileges.
1.4 - Prepayment.
ARTICLE II - CONVERSION RIGHTS
2.1 - Conversion into the Borrower's Common Stock.
A - Merger, Sale of Assets, etc.
B - Reclassification, etc.
C - Stock Splits, Combinations and Dividends.
D - Share Issuance.
E - Funding Reset.
2.2 - Method of Conversion.
2.3 - Maximum Conversion.
ARTICLE III - EVENT OF DEFAULT
3.1 - Failure to Pay Principal or Interest.
3.2 - Breach of Covenant.
3.3 - Breach of Representations and Warranties.
3.4 - Liquidation.
3.5 - Cessation of Operations.
3.6 - Maintenance of Assets.
3.7 - Receiver or Trustee.
3.8 - Judgments.
3.9 - Bankruptcy.
3.10 - Delisting.
3.11 - Non-Payment.
3.12 - Stop Trade.
3.13 - Failure to Deliver Common Stock or Replacement Note.
3.14 - Reservation Default.
3.15 - Financial Statement Restatement.
3.16 - Other Note Default.
3.17 - Reverse Splits.
3.18 - Event Described in Subscription Agreement.
3.19 - Executive Officers Breach of Duties.
3.20 - Cross Default.
3.21 - XTRAX.
4 - Security Interest/Waiver of Automatic Stay.
5.1 - Failure or Indulgence Not Waiver.
5.2 - Notices.
5.3 - Amendment Provision.
5.4 - Assignability.
5.5 - Cost of Collection.
5.6 - Governing Law.
5.7 - Maximum Payments.
5.8 - Non-Business Days.
5.9 - Redemption.
5.10 - Shareholder Status.