High Capital Funding, LLC 333 Sandy Springs Circle, Suite 230, Atlanta, GA 30328 Tel 404/257-9150 Fax
ValCom, Inc.26030 Avenue Hall Studio #5 Valencia, CA 91355 Tel 661-257-8000 Fax 661-257-1780
Financing Agreement June 6, 2002
1.Amount of Financing $1,000,000 (Purchase Amount).
2. Purchaser(s) High Capital Funding, LLC (HCF) and other
accredited investors (collectively Purchaser(s)),
and their transferees and assigns (Holder(s)).
3. Securities - Units Units (Units) consisting of ValCom, Inc. (VACM)
securities: one share of VACM Convertible
Preferred Stock (VACM Preferred Stock) and one
warrant (VACM Warrants). One share of VACM
Preferred Stock is convertible into one share of
VACM common stock. One VACM Warrant is
exercisable into one share of VACM Common Stock.
The per unit purchase price (Unit
Purchase Price) shall be $.80.
The VACM Preferred Stock shall have a zero
Preferred Stock coupon, shall be non-voting, shall be
non-redeemable, and shall contain customary anti-
dilution provisions. The VACM Preferred
Stock shall be convertible for ten years from the
Execution Date (as defined herein in Section 12)
into VACM common stock (VACM Conversion Shares).
The strike price of the VACM Warrants shall be
$.80 per share. The VACM Warrants shall be
Warrants exercisable for five years commencing from the
Execution Date and