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<TITLE>AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH _____, 2005</TITLE>
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<META NAME="date" CONTENT="08/03/2005">
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON AUGUST __, 2005</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>REGISTRATION NO. _______________</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;</P>
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    <p align="center"><B>SECURITIES AND EXCHANGE COMMISSION</B></td>
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    <p align="center"><BIG>Washington, D.C. &nbsp;20549<U> <br>
    </U> </BIG><B>Form S-8</B></td>
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    <td width="100%" colspan="2">
<P style="margin:0pt; text-indent:46.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></P>
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    <td width="100%" colspan="2">&nbsp;</td>
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    <td width="100%" colspan="2">
    <p align="center"><u>International Sports and Media Group, Inc.<br>
    (Exact name of Registrant as specified in its charter)</u></td>
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    <td width="50%">
    <p align="center"><u><b>Nevada</b></u></td>
    <td width="50%">
    <p align="center"><u><b>88-0350156</b></u></td>
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    <td width="50%" align="center" valign="top">
    <p align="center">(State of other jurisdiction of incorporation of <br>
    incorporation or organization)</p>
    <p>&nbsp;</td>
    <td width="50%" align="center" valign="top">
    <p align="center">(IRS Employer <br>
    Identification No.)</td>
  </tr>
  <tr>
    <td width="100%" colspan="2">&nbsp;</td>
  </tr>
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<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; text-indent:234pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; padding-bottom:3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt; border-bottom:0.5pt solid #000000" align=center>11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064</P>
<P style="margin:0pt; text-indent:85.55pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>(Address of Principal Executive Offices, including ZIP Code)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>August 2005 Non-Qualified Stock &amp; Stock Option Plan; Addendum to Fee Agreement with Richard O. Weed</U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>&nbsp;(Full title of the plan)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; padding-bottom:3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt; border-bottom:0.5pt solid #000000" align=center>Rite, Inc.</P>
<P style="margin:0pt; padding-bottom:3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt; border-bottom:0.5pt solid #000000" align=center>1905 South Eastern Avenue</P>
<P style="margin:0pt; padding-bottom:3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt; border-bottom:0.5pt solid #000000" align=center>Las Vegas, NV 89104</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>&nbsp;(Name and address of agent for service)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; padding-bottom:3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt; border-bottom:0.5pt solid #000000" align=center>(702) 641-7557</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>(Telephone number, including area code, of agent for service)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>1</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman" align=center><B>CALCULATION OF REGISTRATION FEE</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center><B>Title of Securities</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>to be Registered</B></P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center><B>Amount of</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Shares</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>to be Registered(1)</B></P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center><B>Proposed</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Maximum</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Offering</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Price Per Share</B></P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center><B>Proposed</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Maximum</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Aggregate</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Offering Price</B></P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=127.733><P style="margin:0pt; font-family:Times New Roman" align=center><B>Amount of</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Registration</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><B>Fee</B></P>
</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman">Common stock, $.001 par value</P>
</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>100,000,000</P>
</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>$.006</P>
</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>$600,000(2)</P>
</TD><TD valign=top width=127.733><P style="margin:0pt; font-family:Times New Roman" align=center>$70.62</P>
</TD></TR>
<TR><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman">Common stock, $.001 par value underlying options to purchase common stock </P>
</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>3,000,000</P>
</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>$.05</P>
</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>$150,000(3)</P>
</TD><TD valign=top width=127.733><P style="margin:0pt; font-family:Times New Roman" align=center>$17.66</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman"><B>TOTALS</B></P>
</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>103,000,000</P>
</TD><TD valign=top width=127.667>&nbsp;</TD><TD valign=top width=127.667><P style="margin:0pt; font-family:Times New Roman" align=center>$750,000</P>
</TD><TD valign=top width=127.733><P style="margin:0pt; font-family:Times New Roman" align=center>$88.28</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=right><BR></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Times New Roman">(1)</P>
<P style="margin:0pt; padding-left:36pt; font-family:Times New Roman">Pursuant to Rule 416 this registration statement shall also cover any additional shares of common stock which may become issuable under the registrant&#146;s plans by reason of any stock dividend, stock split, recapitalization or any other similar transaction</P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Times New Roman">(2)</P>
<P style="margin:0pt; padding-left:36pt; font-family:Times New Roman">This calculation is made solely for the purposes of determining the registration fee pursuant to the provisions of Rule 457(c) and (h) under the Securities Act of 1933, as amended, and is calculated on the basis of the average of the high and low prices per share of the common stock reported on the OTC Bulletin Board as of August 9, 2005, a date within five business days prior to the filing of this registration statement.</P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Times New Roman">(3)</P>
<P style="margin:0pt; padding-left:36pt; font-family:Times New Roman">This calculation is made solely for the purposes of determining the registration fee pursuant to the provisions of Rule 457(c) and (h) under the Securities Act of 1933, as amended, and is calculated on the basis of the price at which the options may be exercised.</P>
<P style="margin:0pt; padding-left:36pt; text-indent:-36pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><B><BR>
<BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>2</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>PROSPECTUS</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>International Sports and Media Group, Inc.</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>100,000,000 Shares of Common Stock</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>3,000,000 Shares of Common Stock Underlying </P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Options to Purchase Common Stock </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">This prospectus relates to the offer and sale by International Sports and Media, Inc., a Nevada corporation (&#147;ISME&#148;), of shares of its $.001 par value per share common stock to certain employees, officers, directors and consultants (the &#147;Consultants&#148;) pursuant to the August 2005 Non-Qualified Stock &amp; Stock Option Plan (the &#147;Plan&#148;) and a consulting agreement (the &#147;Consulting Agreement&#148;). &nbsp;Pursuant to the Plan and the Consulting Agreement, ISME is registering hereunder and then issuing, upon receipt of adequate consideration therefore, to the Consultants, an aggregate of 100,000,000 shares of common stock and 3,000,000 shares underlying options to purchase common stock.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">The common stock is not subject to any restriction on transferability. &nbsp;Recipients of shares other than persons who are &#147;affiliates&#148; of ISME within the meaning of the Securities Act of 1933 (the &#147;Act&#148;) may sell all or part of the shares in any way permitted by law, including sales in the over-the-counter market at prices prevailing at the time of such sale. &nbsp;ISME is registering up to 94,000,000 shares hereunder for affiliates of the company. &nbsp;An affiliate is summarily, any director, executive officer or controlling shareholder of ISME or anyone of its subsidiaries. &nbsp;An &#147;affiliate&#148; of ISME is subject to Section 16(b) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;). &nbsp;If a consultant who is not now an &#147;affiliate&#148; becomes an &#147;affiliate&#148; of ISME in the future, he/she would then be subject to Section 16(b) of the Exchange Act. &nbsp;The common stock is traded on the OTC Bulletin Board under the symbol &#147;ISME.&#148; &nbsp;On August 9, 2005, the closing price for the common stock was $.006 per share.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; padding-left:72pt; padding-right:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>These Securities Have Not Been Approved Or Disapproved By The Securities And Exchange Commission Nor Has The Commission Passed Upon The Accuracy Or Adequacy Of This Prospectus. Any Representation To The Contrary Is A Criminal Offense.</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>The date of this prospectus is August 9, 2005</P>
<P style="margin:0pt; text-indent:36pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>3</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">This prospectus is part of a registration statement which was filed and became effective under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), and does not contain all of the information set forth in the registration statement, certain portions of which have been omitted pursuant to the rules and regulations promulgated by the U.S. Securities and Exchange Commission (the &#147;Commission&#148;) under the Securities Act. &nbsp;The statements in this prospectus as to the contents of any contracts or other documents filed as an exhibit to either the registration statement or other filings by ISME with the Commission are qualified in their entirety by the reference thereto.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">A copy of any document or part thereof incorporated by reference in this prospectus but not delivered herewith will be furnished without charge upon written or oral request. &nbsp;Requests should be addressed to: &nbsp;International Sports and Media, Inc., 11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064. &nbsp;ISME&#146;s telephone number is (310) 445-2599. ISME is subject to the reporting requirements of the Exchange Act and in accordance therewith files reports and other information with the Commission. &nbsp;These reports, as well as the proxy statements, information statements and other information filed by ISME under the Exchange Act may be inspected and copied at the public reference facilities maintained by the Commission at 450 Fifth Street, N.W. Washington D.C. 20549. &nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">No person has been authorized to give any information or to make any representation, other than those contained in this prospectus, and, if given or made, such other information or representation must not be relied upon as having been authorized by ISME. &nbsp;This prospectus does not constitute an offer or a solicitation by anyone in any state in which such is not authorized or in which the person making such is not qualified or to any person to whom it is unlawful to make an offer or solicitation.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Neither the delivery of this prospectus nor any sale made hereunder shall, under any circumstances, create any implication that there has not been a change in the affairs of ISME since the date hereof.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><B><BR>
<BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>4</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>TABLE OF CONTENTS</B></P>
<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left><BR></P>
<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left><BR></P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left><B>Information Required in the Section 10(a) Prospectus&nbsp;&nbsp; </B></P>
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    <td style="border-style: none; border-width: medium" width="350">
<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>6</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 1. &nbsp;The Plan Information&nbsp;&nbsp; </P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>6</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 2. &nbsp;Registrant Information and Employee Plan Annual Information&nbsp;&nbsp; </P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>7</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left><B>Information Required in the Registration Statement&nbsp;&nbsp; </B></P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>8</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 3. &nbsp;Incorporation of Documents by Reference&nbsp;&nbsp; </P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>8</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 4. &nbsp;Description of Securities&nbsp;&nbsp; </P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>8</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 5. &nbsp;Interests of Named Experts and Counsel&nbsp;&nbsp; </P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>8</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
    </td>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 6. &nbsp;Indemnification of Directors and Officers&nbsp;&nbsp; </P>
    </td>
    <td style="border-style: none; border-width: medium" width="350">
<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>8</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
    </td>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 7. &nbsp;Exemption from Registration Claimed&nbsp;&nbsp; </P>
    </td>
    <td style="border-style: none; border-width: medium" width="350">
<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>10</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 8. &nbsp;Exhibits&nbsp;&nbsp; </P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>10</P>
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<P style="font-family:Times New Roman; font-size:11pt; line-height:100%; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>Item 9. &nbsp;Undertakings&nbsp;&nbsp; </P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>10</P>
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<P style="line-height:100%; font-family:Times New Roman; font-size:11pt; margin-top:0pt; margin-bottom:0" align=left>&nbsp;</P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>
<b>Signatures&nbsp;&nbsp; </b></P>
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<P style="margin-top:0pt; margin-bottom:0; line-height:100%; font-family:Times New Roman; font-size:11pt" align=left>
12</P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify>&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><B><BR>
<BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>5</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin-top:12pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>PART 1</B></P>
<P style="margin-top:12pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>INFORMATION REQUIRED IN THE SECTION 10(a)</B></P>
<P style="margin-top:12pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>PROSPECTUS</B></P>
<P style="margin-top:12pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Item 1.</B></P>
<B><P style="margin-top:0pt; margin-bottom:12pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Plan Information. </B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Company </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>ISME has its principal executive offices at 11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064. ISME&#146;s telephone number is (310) 445-2599. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Purpose </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>ISME will issue common stock to certain employees, officers, directors and consultants (the &#147;Consultants&#148;) pursuant to the August 2005 Non-Qualified Stock &amp; Stock Option Plan (the &#147;Plan&#148;) and a consulting agreement which have been approved by the Board of Directors of ISME. &nbsp;The Plan is intended to provide a method whereby ISME may be stimulated by the personal involvement of the Consultants in ISME&#146;s future prosperity, thereby advancing the interests of ISME, and all of its shareholders. &nbsp;Copies of the Plan and the consulting agreement have been filed as exhibits to this registration statement. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Common Stock </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Board has authorized the issuance of up to 100,000,000 shares of the common stock to the Consultants and 3,000,000 shares of common stock underlying stock options upon effectiveness of this registration statement. The stock options are exercisable at $.05 per share and expire December 31, 2010.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>No Restrictions on Transfer </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Consultants will become the record and beneficial owners of the shares of common stock upon issuance and delivery and are entitled to all of the rights of ownership, including the right to vote any shares awarded and to receive ordinary cash dividends on the common stock. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Tax Treatment to the Consultants </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The common stock is not qualified under Section 401(a) of the Internal Revenue Code. The Consultants, therefore, will be required for federal income tax purposes to recognize compensation during the taxable year of issuance unless the shares are subject to a substantial risk of forfeiture. &nbsp;Accordingly, absent a specific contractual provision to the contrary, the Consultants will receive compensation taxable at ordinary rates equal to the fair market value of the shares on the date of receipt since there will be no substantial risk of forfeiture or other restrictions on transfer. &nbsp;If, however, the Consultants receive shares </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>6</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>of common stock pursuant to the exercise of an option or options at an exercise price below the fair market value of the shares on the date of exercise, the difference between the exercise price and the fair market value of the stock on the date of exercise will be deemed compensation for federal income tax purposes. &nbsp;The Consultants are urged to consult each of their tax advisors on this matter. &nbsp;Further, if any recipient is an &quot;affiliate,&quot; Section 16(b) of the Exchange Act is applicable and will affect the issue of taxation. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Tax Treatment to the Company </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The amount of income recognized by any recipient hereunder in accordance with the foregoing discussion will be a tax deductible expense by ISME for federal income tax purposes in the taxable year of ISME during which the recipient recognizes income. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Restrictions on Resales </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>In the event that an affiliate of ISME acquires shares of common stock hereunder, the affiliate will be subject to Section 16(b) of the Exchange Act. Further, in the event that any affiliate acquiring shares hereunder has sold or sells any shares of common stock in the six months preceding or following the receipt of shares hereunder, any so called &quot;profit,&quot; as computed under Section 16(b) of the Exchange Act, would be required to be disgorged from the recipient to ISME. Services rendered have been recognized as valid consideration for the &quot;purchase&quot; of shares in connection with the &quot;profit&quot; computation under Section 16(b) of the Exchange Act. ISME has agreed that for the purpose of any &quot;profit&quot; computation under Section 16(b) of the Exchange Act, the price paid for the common stock issued to affiliates is equal to the value of services rendered. Shares of common stock acquired hereunder by persons other than affiliates are not subject to Section 16(b) of the Exchange Act. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Item 2. &nbsp;Registrant Information and Employee Plan Annual Information </B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The documents incorporated by reference in Item 3 of Part II of the Form S-8, and any other documents required to be delivered pursuant to Rule 428(b), promulgated under the Securities Act, are available from the company, without charge, upon written or oral request. Requests for documents should be directed to the CEO of the company at 11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064. The documents incorporated by reference in Item 3 of Part II of the Form S-8 are also incorporated in this Prospectus by reference thereto.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><B><BR>
<BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>7</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>PART II</B></P>
<P style="margin-top:6pt; margin-bottom:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>
<P style="margin-top:12pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Item 3.</B></P>
<B><P style="margin-top:0pt; margin-bottom:12pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Incorporation of Documents by Reference. </B></P>
<P style="margin-top:12pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The following documents filed with the Securities and Exchange Commission (the &quot;Commission&quot;) by International Sports and Media Group, Inc., a Nevada corporation (the &quot;Company&quot;), are incorporated herein by reference: </P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(a)</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Company's latest Annual Report on Form 10-KSB for the year ended December 31, 2004, filed with the Securities and Exchange Commission; </P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(b)</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The reports of the Company filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;) since the fiscal year ended December 31, 2004; </P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(c)</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The description of the Company's common stock contained in its Form 10-SB filed September 30, 1999 (File No. 00027487), including any amendment or report filed for the purpose of updating such description.</P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(d)</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">All other documents filed by the Company after the date of this Registration Statement pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or de-registers all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing such documents. </P>
<P style="margin-top:12pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Item 4.</B></P>
<B><P style="margin-top:0pt; margin-bottom:12pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Description of Securities. </B></P>
<P style="margin-top:12pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Not applicable. </P>
<P style="margin-top:12pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Item 5.</B></P>
<B><P style="margin-top:0pt; margin-bottom:12pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Interests of Named Experts and Counsel. </B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Weed &amp; Co. LLP has rendered an opinion on the validity of the securities being registered. &nbsp;Mr. Richard O. Weed, managing partner of Weed &amp; Co. LLP, owns 2,000,000 restricted shares of the company&#146;s common stock and an option to purchase 3,000,000 shares of the company&#146;s common stock at an exercise price of $.05 per share. These options expire December 31, 2010. Mr. Weed will also receive an additional 5,000,000 shares of common stock in connection with this offering.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Item 6.</B></P>
<B><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indemnification of Directors and Officers </B></P>
<P style="margin:0pt; padding-left:36pt; text-indent:-36pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The company's officers and directors are indemnified as provided by the Nevada Revised Statutes and the company&#146;s bylaws.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>8</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Under the Nevada Revised Statutes, director immunity from liability to a company or its shareholders for monetary liabilities applies automatically unless it is specifically limited by a company's Articles of Incorporation, the Bylaws or by Agreement. The Articles of Incorporation do not specifically limit the directors' liability; however the Bylaws specify the extent and nature of any liability of directors, as detailed below. There are currently no agreements in effect, which would limit such liability. Excepted from that immunity are: (a) a willful failure to deal fairly with the company or its shareholders in connection with a matter in which the director has a material conflict of interest; (b) a violation of criminal law, unless the director had reasonable cause to believe that his or her conduct was lawful or no reasonable cause to believe that his or her conduct was unlawful; (c) a transaction from which the director derived an improper personal profit; and (d) willful misconduct.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">International Sports and Media Group, Inc.&#146;s bylaws provide that the company will indemnify the directors and officers to the fullest extent not prohibited by Nevada law; provided, however, that the company may modify the extent of such indemnification by individual contracts with the directors and officers; and, provided, further, that International Sports and Media Group shall not be required to indemnify any director or officer in connection with any proceeding, or part thereof, initiated by such person unless such indemnification: (a) is expressly required to be made by law, (b) the proceeding was authorized by the board of directors, (c) is provided by us, in International Sports and Media Group's sole discretion, pursuant to the powers vested us under Nevada law or (d) is required to be made pursuant to the bylaws.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The company's bylaws provide that the company will advance to any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he is or was a director or officer, of the company, or is or was serving at the request of the company as a director or executive officer of another company, partnership, joint venture, trust or other enterprise, prior to the final disposition of the proceeding, promptly following request therefore, all expenses incurred by any director or officer in connection with such proceeding upon receipt of an undertaking by or on behalf of such person to repay said amounts if it should be determined ultimately that such person is not entitled to be indemnified under the bylaws or otherwise.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The company's bylaws provide that no advance shall be made by it to an officer of the company, except by reason of the fact that such officer is or was a director of the company in which event this paragraph shall not apply, in any action, suit or proceeding, whether civil, criminal, administrative or investigative, if a determination is reasonably and promptly made: (a) by the board of directors by a majority vote of a quorum consisting of directors who were not parties to the proceeding, or (b) if such quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs, by independent legal counsel in a written opinion, that the facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>9</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">believe to be in or not opposed to the best interests of International Sports and Media Group.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling an issuer pursuant to the foregoing provisions, the opinion of the Commission is that such indemnification is against public policy as expressed in the Securities Act of 1933 and is therefore unenforceable.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR>
</P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Item 7.</B></P>
<B><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Exemption from Registration Claimed. </B></P>
<blockquote>
<P style="margin-top:12pt; margin-bottom:12pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Not applicable.</P>
</blockquote>
<P style="margin-top:12pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Item 8. </B></P>
<P style="margin-top:0pt; margin-bottom:12pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Exhibits.</B></P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:36pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>(a)</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:36pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The following exhibits are filed as part of this registration statement pursuant to Item 601 of the Regulation S-K and are specifically incorporated herein by this reference:</P>
<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align=left>&nbsp;</P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align=left><B><U>Exhibit No.</U>&nbsp;&nbsp; </B></P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align=left><B><U>Title</U></B></P>
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&nbsp;</td>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align=left>5&nbsp;&nbsp; </P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align=left>Opinion of Weed &amp; Co. LLP</P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">10.1&nbsp;&nbsp; </P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">August 2005 Non-Qualified Stock &amp; Stock Option Plan</P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">10.2&nbsp;&nbsp; </P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">Addendum to Fee Agreement with Richard O. Weed</P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">23.1&nbsp;&nbsp; </P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">Consent of Weed &amp; Co. LLP (included in Exhibit 5)</P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">23.2&nbsp;&nbsp; </P>
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<P style="margin-top:0; margin-bottom:0; padding-left:36pt; line-height:100%; font-family:Times New Roman; font-size:12pt" align="left">Consent of HJ Associates &amp; Consultants LLP</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:36pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:36pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:36pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin-top:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><BR>
</P>
<P style="margin-top:12pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Item 9.</B></P>
<B><P style="margin-top:0pt; margin-bottom:12pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Undertakings. </B></P>
<P style="margin-top:12pt; margin-bottom:12pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The undersigned registrant hereby undertakes: </P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:72pt; text-indent:-36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(1)</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to: </P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(i)</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>include any prospectus required by Section 10(a)(3) of the Securities Act; </P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(ii)</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represents a fundamental change in the information set forth in the registration statement; </P>
<P style="margin-top:12pt; margin-bottom:12pt; padding-left:108pt; text-indent:-36pt; font-family:Times New Roman; font-size:12pt" align=justify><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>10</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin-top:12pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(iii)</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B></B>include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement. </P>
<P style="margin-top:12pt; margin-bottom:12pt; padding-left:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Provided, however, that paragraphs (1)(i) and (1)(ii) shall not apply if registration statement is on Form S-3, Form S-8 or Form F-3, and the information required [or] to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.</P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:72pt; text-indent:-36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(2)</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>That, for the purpose of determining any liability pursuant to the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities offered at that time shall be deemed to be the initial bona fide offering thereof. </P>
<P style="margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(3)</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B></B>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>
<P style="margin:0pt; padding-left:70.35pt; text-indent:-36.75pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(4)</B></P>
<P style="margin:0pt; padding-left:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B></B>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of registrant pursuant to the foregoing provisions, or otherwise, registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is therefore, unenforceable. &nbsp;In the event that a claim for indemnification against such liabilities (other than the payment by registrant of expenses incurred or paid by a director, officer or controlling person of registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>(5)</B></P>
<P style="margin:0pt; padding-left:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B></B>The undersigned hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of registrant&#146;s annual report pursuant to Section 13(a) of the Securities Act of 1934 (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </P>
<P style="margin:0pt; padding-left:54pt; text-indent:-18pt; font-family:Times New Roman; font-size:12pt" align=justify><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>11</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin-top:12pt; margin-bottom:12pt; padding-left:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>SIGNATURES</B></P>
<P style="margin-top:12pt; margin-bottom:12pt; padding-left:18pt; text-indent:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California, on August 9, 2005. </P>
<P style="margin-top:12pt; margin-bottom:0pt; padding-left:222pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">INTERNATIONAL SPORTS AND MEDIA, INC. </P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:222pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>(Registrant)</P>
<P style="margin:0pt; padding-left:221.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>/s/ Gordon F. Lee</U></P>
<P style="margin:0pt; padding-left:221.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Gordon F. Lee</P>
<P style="margin:0pt; padding-left:221.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Chief Executive Officer</P>
<P style="margin-top:12pt; margin-bottom:12pt; padding-left:18pt; text-indent:18pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated. </P>
<P style="margin:0pt; padding-left:18pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 width="794">
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    <TD valign=top width=262><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Signatures</B></P>
</TD><TD valign=top width=219><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Title</B></P>
</TD><TD valign=top width=260><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Date</B></P>
</TD>
  </tr>
  <TR><TD valign=bottom width=45 align="left">&nbsp;</TD>
    <TD valign=top width=262 align="left"><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U>/s/Gordon F. Lee </U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Gordon F. Lee </P>
</TD><TD valign=top width=219 align="left"><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Chief Executive Officer, Chief Financial Officer (Controller) </P>
</TD><TD valign=top width=260 align="left"><P style="margin:0pt; text-indent:15.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>August 9, 2005</P>
</TD></TR>
<TR><TD valign=bottom width=45 align="left">&nbsp;</TD>
  <TD valign=top width=262 align="left"><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U>/s/Manolo Cevallo</U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><U>Manolo Cevallo</U></P>
</TD><TD valign=top width=219 align="left"><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">President </P>
</TD><TD valign=top width=260 align="left"><P style="margin:0pt; text-indent:15.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>August 9, 2005</P>
</TD></TR>
<TR><TD valign=bottom width=45 align="left">&nbsp;</TD>
  <TD valign=top width=262 align="left"><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>/s/Yan Skwara</U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Yan Skwara</P>
</TD><TD valign=top width=219 align="left">
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Director</P>
</TD><TD valign=top width=260 align="left">
<P style="margin:0pt; text-indent:15.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>
August 9, 2005</P>
</TD></TR>
<TR><TD valign=bottom width=45 align="left">&nbsp;</TD>
  <TD valign=top width=262 align="left"><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>/s/Lonn Paul</U></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Lonn Paul</P>
</TD><TD valign=top width=219 align="left">
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Secretary, Director</P>
</TD><TD valign=top width=260 align="left">
<P style="margin:0pt; text-indent:15.75pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>August 9, 2005</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; padding-left:18pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; padding-left:18pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>
12</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
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<P style="page-break-before:always; margin-top:5pt; margin-bottom:5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5 -- Opinion of Weed &amp; Co. LLP</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>WEED &amp; CO. LLP</B></P>
<P style="margin:0pt; line-height:9pt; font-family:Times New Roman; font-size:7pt" align=center>4695 MACARTHUR COURT, SUITE 1430, NEWPORT BEACH, CALIFORNIA &nbsp;92660-2164</P>
<P style="margin:0pt; line-height:9pt; font-family:Times New Roman; font-size:7pt" align=center>TELEPHONE (949) 475-9086 FACSIMILE (949) 475-9087</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>August 9, 2005</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Board of Directors </P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">International Sports and Media Group, Inc.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11301 Olympic Boulevard, Suite 680<BR>
Los Angeles, CA 90064</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Re: &nbsp;Form S-8 Registration Statement; Opinion of Counsel</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Dear Members of the Board:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">You have requested our opinion with respect to certain matters in connection with International Sports and Media Group, Inc.&#146;s (the &#147;Company&#148;) filing of a registration statement on Form S-8 (the &#147;Registration Statement&#148;) with the Securities and Exchange Commission covering the offering of an aggregate of 100,000,000 shares of the Company's common stock, $.001 par value and 3,000,000 shares underlying options to purchase common stock (the &#147;Shares&#148;), pursuant to the August 2005 Non-Qualified Stock &amp; Stock Option Plan (the &#147;Stock Plan&#148;) and a consulting agreement.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">In connection with this opinion, we have examined the Registration Statement and such other documents, records, certificates, memoranda and other instruments as we deemed necessary for the basis of this opinion. We have assumed the genuineness and authenticity of all documents submitted to us as originals and the conformity to originals of all documents submitted to us as copies and the due execution and delivery of all documents where due execution and delivery are a prerequisite to the effectiveness thereof.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when sold and issued in accordance with the Stock Plan, the consulting agreement and the Registration Statement and related prospectus, will be legally issued, fully paid and non-assessable.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>We consent to the use of our opinion as an exhibit to the Form S-8 Registration Statement and to the reference to this firm in any prospectus which is incorporated by reference into and made a part of the Registration Statement.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Very truly yours,</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; padding-left:180pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">/s/ Weed &amp; Co. LLP</P>
<P style="margin:0pt; padding-left:180pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Weed &amp; Co. LLP</P>
<P style="margin:0pt; padding-left:180pt; text-indent:36pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
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<P style="page-break-before:always; margin-top:5pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">10.1 </P>
<P style="margin-top:0pt; margin-bottom:5pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">August 2005 Non-Qualified Stock &amp; Stock Option Plan</P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><B>AUGUST 2005 NON-QUALIFIED STOCK &amp; STOCK OPTION PLAN </B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">1.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Purpose of Plan</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">1.1</P>
<P style="margin:0pt; text-indent:72pt; font-family:Times New Roman; font-size:12pt">This &nbsp;AUGUST 2005 NON-QUALIFIED STOCK &amp; STOCK OPTION PLAN (the &#147;Plan&#148;) of International Sports and Media Group, Inc, a Nevada corporation (the &#147;Company&#148;) for employees, officers, directors, consultants and other persons associated with the Company, is intended to advance the best interests of the Company by providing those persons who have a substantial responsibility for its management and growth with additional incentive and by increasing their proprietary interest in the success of the Company, thereby encouraging them to maintain their relationships with the Company. &nbsp;Further, the availability and offering of stock options and common stock under the Plan supports and increases the Company's ability to attract and retain individuals of exceptional talent upon whom, in large measure, the sustained progress, growth and profitability of the Company depends.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">2.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Definitions</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">2.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">For Plan purposes, except where the context might clearly indicate otherwise, the following terms shall have the meanings set forth below:</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Board&#148; shall mean the Board of Directors of the Company.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Committee&#148; shall mean the Compensation Committee, or such other committee appointed by the Board, which shall be designated by the Board to administer the Plan, or the Board if no committees have been established. &nbsp;The Committee shall be composed of <U>three or more persons</U> as from time to time are appointed to serve by the Board. &nbsp;Each member of the Committee, while serving as such, shall be a disinterested person with the meaning of Rule 16b-3 promulgated under the Securities Exchange Act of 1934.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Common Shares&#148; shall mean the Company's Common Shares, $.001 par value per share, or, in the event that the outstanding Common Shares are hereafter changed into or exchanged for different shares of securities of the Company, such other shares or securities.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Company&#148; shall mean International Sports and Media Group, Inc., a Nevada corporation, and any parent or subsidiary corporation of International Sports and Media Group, Inc., as such terms are defined in Sections 425(e) and 425(f), respectively, of the Code.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Fair Market Value&#148; shall mean, with respect to the date a given stock option is granted or exercised, the average of the highest and lowest reported sales prices of the Common Shares, as reported by such responsible reporting service as the Committee may </P>
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<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">select, or if there were not transactions in the Common Shares on such day, then the last preceding day on which transactions took place. &nbsp;The above withstanding, the Committee may determine the Fair Market Value in such other manner as it may deem more equitable for Plan purposes or as is required by applicable laws or regulations.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Optionee&#148; shall mean an employee of the company who has been granted one or more Stock Options under the Plan.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Common Stock&#148; shall mean shares of common stock which are issued by the Company pursuant to Section 5, below.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Common Stockholder&#148;<B> </B>means the employee of, consultant to, or director of the Company or other person to whom shares of Common Stock are issued pursuant to this Plan.</P>
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<B><P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></B>&#147;Common Stock Agreement&#148; means an agreement executed by a Common Stockholder and the Company as contemplated by Section 5, below, which imposes on the shares of Common Stock held by the Common Stockholder such restrictions as the Board or Committee deem appropriate.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Stock Option&#148; or &#147;Non-Qualified Stock Option&#148; or &#147;NQSO&#148; shall mean a stock option granted pursuant to the terms of the Plan.</P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&#147;Stock Option Agreement&#148; shall mean the agreement between the Company and the Optionee under which the Optionee may purchase Common Shares hereunder.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Administration of the Plan</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Committee shall administer the Plan and accordingly, it shall have full power to grant Stock Options and Common Stock, construe and interpret the Plan, establish rules and regulations and perform all other acts, including the delegation of administrative responsibilities, it believes reasonable and proper.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The determination of those eligible to receive Stock Options and Common Stock, and the amount, type and timing of each grant and the terms and conditions of the respective stock option agreements and Common stock agreements shall rest in the sole discretion of the Committee, subject to the provisions of the Plan.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.3</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Committee may cancel any Stock Options awarded under the Plan if an Optionee conducts himself in a manner which the Committee determines to be inimical to the best interest of the Company, as set forth more fully in paragraph 8 of Article 11 of the Plan.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.4</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Board, or the Committee, may correct any defect, supply any omission or reconcile any inconsistency in the Plan, or in any granted Stock Option, in the manner and to the extent it shall deem necessary to carry it into effect.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.5</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Any decision made, or action taken, by the Committee or the Board arising out of or in connection with the interpretation and administration of the Plan shall be final and conclusive.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.6</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Meetings of the Committee shall be held at such times and places as shall be determined by the Committee. &nbsp;A majority of the members of the Committee shall constitute a quorum for the transaction of business, and the vote of a majority of those members present at any meeting shall decide any question brought before that meeting. &nbsp;In addition, the Committee may take any action otherwise proper under the Plan by the affirmative vote, taken without a meeting, of a majority of its members.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.7</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">No member of the Committee shall be liable for any act or omission of any other member of the Committee or for any act or omission on his own part, including, but not limited to, the exercise of any power or discretion given to him under the Plan, except those resulting from his own gross negligence or willful misconduct.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.8</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Company, through its management, shall supply full and timely information to the Committee on all matters relating to the eligibility of Optionees, their duties and performance, and current information on any Optionee's death, retirement, disability or other termination of association with the Company, and such other pertinent information as the Committee may require. &nbsp;The Company shall furnish the Committee with such clerical and other assistance as is necessary in the performance of its duties hereunder.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">4.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Shares Subject to the Plan</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">4.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The total number of shares of the Company available for grants of Stock Options and Common Stock under the Plan shall be 95,000,000 Common Shares, subject to adjustment in accordance with Article 7 of the Plan, which shares may be either authorized but unissued or reacquired Common Shares of the Company.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">4.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">If a Stock Option or portion thereof shall expire or terminate for any reason without having been exercised in full, the unpurchased shares covered by such NQSO shall be available for future grants of Stock Options.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>5.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Award Of Common Stock</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Board or Committee from time to time, in its absolute discretion, may (a) award Common Stock to employees of, consultants to, and directors of the Company, and such other persons as the Board or Committee may select, and (b) permit Holders of Options to exercise such Options prior to full vesting therein and hold the Common Shares issued upon exercise of the Option as Common Stock. &nbsp;In either such event, the owner of such Common Stock shall hold such stock subject to such vesting schedule as the Board or Committee may impose or such vesting schedule to which the Option was subject, as determined in the discretion of the Board or Committee.</P>
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<P style="page-break-before:always; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Common Stock shall be issued only pursuant to a Common Stock Agreement, which shall be executed by the Common Stockholder and the Company and which shall contain such terms and conditions as the Board or Committee shall determine consistent with this Plan, including such restrictions on transfer as are imposed by the Common Stock Agreement.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><B><U><BR></U></B></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.3</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Upon delivery of the shares of Common Stock to the Common Stockholder, below, the Common Stockholder shall have, unless otherwise provided by the Board or Committee, all the rights of a stockholder with respect to said shares, subject to the restrictions in the Common Stock Agreement, including the right to receive all dividends and other distributions paid or made with respect to the Common Stock.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.4.</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Notwithstanding anything in this Plan or any Common Stock Agreement to the contrary, no Common Stockholders may sell or otherwise transfer, whether or not for value, any of the Common Stock prior to the date on which the Common Stockholder is vested therein.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.5</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">All shares of Common Stock issued under this Plan (including any shares of Common Stock and other securities issued with respect to the shares of Common Stock as a result of stock dividends, stock splits or similar changes in the capital structure of the Company) shall be subject to such restrictions as the Board or Committee shall provide, which restrictions may include, without limitation, restrictions concerning voting rights, transferability of the Common Stock and restrictions based on duration of employment with the Company, Company performance and individual performance; provided that the Board or Committee may, on such terms and conditions as it may determine to be appropriate, remove any or all of such restric&shy;tions. &nbsp;Common Stock may not be sold or encumbered until all applicable restrictions have terminated or expire. &nbsp;The restrictions, if any, imposed by the Board or Committee or the Board under this Section 5 need not be identical for all Common Stock and the imposition of any restrictions with respect to any Common Stock shall not require the imposition of the same or any other restrictions with respect to any other Common Stock.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.6</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Each Common Stock Agreement shall provide that the Company shall have the right to repurchase from the Common Stockholder the unvested Common Stock upon a termination of employment, termination of directorship or termination of a consultancy arrangement, as applicable, at a cash price per share equal to the purchase price paid by the Common Stockholder for such Common Stock.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.7</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">In the discretion of the Board or Committee, the Common Stock Agreement may provide that the Company shall have the a right of first refusal with respect to the Common Stock and a right to repurchase the vested Common Stock upon a termination of the Common Stockholder's employment with the Company, the termination of the Common Stockholder's consulting arrangement with the Company, the termination of the Common Stockholder's service on the Company's Board, or such other events as the Board or Committee may deem appropriate.</P>
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<P style="page-break-before:always; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">5.8</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Board or Committee shall cause a legend or legends to be placed on certificates representing shares of Common Stock that are subject to restrictions under Common Stock Agreements, which legend or legends shall make appropriate reference to the applicable restrictions.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Stock Option Terms and Conditions</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Consistent with the Plan's purpose, Stock Options may be granted to non-employee directors of the Company or other persons who are performing or who have been engaged to perform services of special importance to the management, operation or development of the Company.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">All Stock Options granted under the Plan shall be evidenced by agreements which shall be subject to applicable provisions of the Plan, and such other provisions as the Committee may adopt, including the provisions set forth in paragraphs 2 through 11 of this Section 6.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.3</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">All Stock Options granted hereunder must be granted within ten years from the earlier of the date of this Plan is adopted or approved by the Company's shareholders.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.4</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">No Stock Option granted to any employee or 10% Shareholder shall be exercisable after the expiration of ten years from the date such NQSO is granted. &nbsp;The Committee, in its discretion, may provide that an Option shall be exercisable during such ten year period or during any lesser period of time.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Committee may establish installment exercise terms for a Stock Option such that the NQSO becomes fully exercisable in a series of cumulating portions. &nbsp;If an Optionee shall not, in any given installment period, purchase all the Common Shares which such Optionee is entitled to purchase within such installment period, such Optionee's right to purchase any Common Shares not purchased in such installment period shall continue until the expiration or sooner termination of such NQSO. &nbsp;The Committee may also accelerate the exercise of any NQSO. &nbsp;However, no NQSO, or any portion thereof, may be exercisable until thirty (30) days following date of grant (&#147;30-Day Holding Period.&#148;).</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.5</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">A Stock Option, or portion thereof, shall be exercised by delivery of (i) &nbsp;a written notice of exercise of the Company specifying the number of common shares to be purchased, and (ii) &nbsp;payment of the full price of such Common Shares, as fully set forth in paragraph 6 of this Section 6.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">No NQSO or installment thereof shall be exercisable except with respect to whole shares, and fractional share interests shall be disregarded. &nbsp;Not less than 100 Common Shares may be purchased at one time unless the number purchased is the total number at the time available for purchase under the NQSO. &nbsp;Until the Common Shares represented by an exercised NQSO are issued to an Optionee, he shall have none of the rights of a shareholder.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.6</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The exercise price of a Stock Option, or portion thereof, may be paid:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">A.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">In United States dollars, in cash or by cashier's check, certified check, bank draft or money order, payable to the order of the Company in an amount equal to the option price; &nbsp;or</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">B.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">At the discretion of the Committee, through the delivery of fully paid and nonassessable Common Shares, with an aggregate Fair Market Value on the date the NQSO is exercised equal to the option price, provided such tendered Shares have been owned by the Optionee for at least one year prior to such exercise; &nbsp;or</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">C.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">By a combination of both A and B above.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Committee shall determine acceptable methods for tendering Common Shares as payment upon exercise of a Stock Option and may impose such limitations and prohibitions on the use of Common Shares to exercise an NQSO as it deems appropriate.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.7</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">With the Optionee's consent, the Committee may cancel any Stock Option issued under this Plan and issue a new NQSO to such Optionee.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.8</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Except by will or the laws of descent and distribution, no right or interest in any Stock Option granted under the Plan shall be assignable or transferable, and no right or interest of any Optionee shall be liable for, or subject to, any lien, obligation or liability of the Optionee. &nbsp;Stock Options shall be exercisable during the Optionee's lifetime only by the Optionee or the duly appointed legal representative of an incompetent Optionee.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.9</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">If the Optionee shall die while associated with the Company or within three months after termination of such association, the personal representative or administrator of the Optionee's estate or the person(s) to whom an NQSO granted hereunder shall have been validly transferred by such personal representative or administrator pursuant to the Optionee's will or the laws of descent and distribution, shall have the right to exercise the NQSO for one year after the date of the Optionee's death, to the extent (i) &nbsp;such NQSO was exercisable on the date of such termination of employment by death, and (ii) such NQSO was not exercised, and (iii) &nbsp;the exercise period may not be extended beyond the expiration of the term of the Option.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">No transfer of a Stock Option by the will of an Optionee or by the laws of descent and distribution shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and an authenticated copy of the will and/or such other evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferee of the terms and conditions by such Stock Option.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">In the event of death following termination of the Optionee's association with the Company while any portion of an NQSO remains exercisable, the Committee, in its discretion, may provide for an extension of the exercise period of up to one year after the Optionee's death but not beyond the expiration of the term of the Stock Option.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">6.10</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Any Optionee who disposes of Common Shares acquired on the exercise of a NQSO by sale or exchange either (i) within two years after the date of the grant of the NQSO under which the stock was acquired, or (ii) within one year after the acquisition of such Shares, shall notify the Company of such disposition and of the amount realized upon such disposition. &nbsp;The transfer of Common Shares may also be Common by applicable provisions of the Securities Act of 1933, as amended.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">7.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Adjustments or Changes in Capitalization</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">7.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">In the event that the outstanding Common Shares of the Company are hereafter changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of merger, consolidation, other reorganization, recapitalization, reclassification, combination of shares, stock split-up or stock dividend:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">A.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Prompt, proportionate, equitable, lawful and adequate adjustment shall be made of the aggregate number and kind of shares subject to Stock Options which may be granted under the Plan, such that the Optionee shall have the right to purchase such Common Shares as may be issued in exchange for the Common Shares purchasable on exercise of the NQSO had such merger, consolidation, other reorganization, recapitalization, reclassification, combination of shares, stock split-up or stock dividend not taken place;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">B.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Rights under unexercised Stock Options or portions thereof granted prior to any such change, both as to the number or kind of shares and the exercise price per share, shall be adjusted appropriately, provided that such adjustments shall be made without change in the total exercise price applicable to the unexercised portion of such NQSO's but by an adjustment in the price for each share covered by such NQSO's; &nbsp;or</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">C.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Upon any dissolution or liquidation of the Company or any merger or combination in which the Company is not a surviving corporation, each outstanding Stock Option granted hereunder shall terminate, but the Optionee shall have the right, immediately prior to such dissolution, liquidation, merger or combination, to exercise his NQSO in whole or in part, to the extent that it shall not have been exercised, without regard to any installment exercise provisions in such NQSO.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">7.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The foregoing adjustments and the manner of application of the foregoing provisions shall be determined solely by the Committee, whose determination as to what adjustments shall be made and the extent thereof, shall be final, binding and conclusive. &nbsp;No fractional Shares shall be issued under the Plan on account of any such adjustments.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">8.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Merger, Consolidation or Tender Offer</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">8.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">If the Company shall be a party to a binding agreement to any merger, consolidation or reorganization or sale of substantially all the assets of the Company, each outstanding Stock Option shall pertain and apply to the securities and/or property which a shareholder of the number of Common Shares of the Company subject to the NQSO would </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
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<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">be entitled to receive pursuant to such merger, consolidation or reorganization or sale of assets.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">8.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">In the event that:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">A.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Any person other than the Company shall acquire more than 20% of the Common Shares of the Company through a tender offer, exchange offer or otherwise;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">B.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">A change in the &#147;control&#148; of the Company occurs, as such term is defined in Rule 405 under the Securities Act of 1933;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">C.</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">There shall be a sale of all or substantially all of the assets of the Company;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">any then outstanding Stock Option held by an Optionee, who is deemed by the Committee to be a statutory officer (&#147;Insider&#148;) for purposes of Section 16 of the Securities Exchange Act of 1934 shall be entitled to receive, subject to any action by the Committee revoking such an entitlement as provided for below, in lieu of exercise of such Stock Option, to the extent that it is then exercisable, a cash payment in an amount equal to the difference between the aggregate exercise price of such NQSO, or portion thereof, and, (i) &nbsp;in the event of an offer or similar event, the final offer price per share paid for Common Shares, or such lower price as the Committee may determine to conform an option to preserve its Stock Option status, times the number of Common Shares covered by the NQSO or portion thereof, or (ii) &nbsp;in the case of an event covered by B or C above, the aggregate Fair Market Value of the Common Shares covered by the Stock Option, as determined by the Committee at such time.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">8.3</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Any payment which the Company is required to make pursuant to paragraph 8.2 of this Section 8 shall be made within 15 business days, following the event which results in the Optionee's right to such payment. &nbsp;In the event of a tender offer in which fewer than all the shares which are validly tendered in compliance with such offer are purchased or exchanged, then only that portion of the shares covered by an NQSO as results from multiplying such shares by a fraction, the numerator of which is the number of Common Shares acquired pursuant to the offer and the denominator of which is the number of Common Shares tendered in compliance with such offer shall be used to determine the payment thereupon. &nbsp;To the extent that all or any portion of a Stock Option shall be affected by this provision, all or such portion of the NQSO shall be terminated.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">8.4</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Notwithstanding paragraphs 8.1 and 8.3 of this Section 8, the Committee may, by unanimous vote and resolution, unilaterally revoke the benefits of the above provisions; &nbsp;provided, however, that such vote is taken no later than ten business days following public announcement of the intent of an offer or the change of control, whichever occurs earlier.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">9.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Amendment and Termination of Plan</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">9.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Board may at any time, and from time to time, suspend or terminate the Plan in whole or in part or amend it from time to time in such respects as the Board may deem appropriate and in the best interest of the Company.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">9.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">No amendment, suspension or termination of this Plan shall, without the Optionee's consent, alter or impair any of the rights or obligations under any Stock Option theretofore granted to him under the Plan.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">9.3</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Board may amend the Plan, subject to the limitations cited above, in such manner as it deems necessary to permit the granting of Stock Options &nbsp;meeting the requirements of future amendments or issued regulations, if any, to the &nbsp;Code.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">9.4</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">No NQSO may be granted during any suspension of the Plan or after termination of the Plan.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">10.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Government and Other Regulations</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">10.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The obligation of the Company to issue, transfer and deliver Common Shares for Stock Options exercised under the Plan shall be subject to all applicable laws, regulations, rules, orders and approval which shall then be in effect and required by the relevant stock exchanges on which the Common Shares are traded and by government entities as set forth below or as the Committee in its sole discretion shall deem necessary or advisable. &nbsp;Specifically, in connection with the Securities Act of 1933, as amended, upon exercise of any Stock Option, the Company shall not be required to issue Common Shares unless the Committee has received evidence satisfactory to it to the effect that the Optionee will not transfer such shares except pursuant to a registration statement in effect under such Act or unless an opinion of counsel satisfactory to the Company has been received by the Company to the effect that such registration is not required. &nbsp;Any determination in this connection by the Committee shall be final, binding and conclusive. &nbsp;The Company may, but shall in no event be obligated to, take any other affirmative action in order to cause the exercise of a Stock Option or the issuance of Common Shares pursuant thereto to comply with any law or regulation of any government authority.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Miscellaneous Provisions</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">No person shall have any claim or right to be granted a Stock Option or Common Stock under the Plan, and the grant of an NQSO or Common Stock under the Plan shall not be construed as giving an Optionee or Common Stockholder the right to be retained by the Company. &nbsp;Furthermore, the Company expressly reserves the right at any time to terminate its relationship with an Optionee with or without cause, free from any liability, or any claim under the Plan, except as provided herein, in an option agreement, or in any agreement between the Company and the Optionee.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.2</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Any expenses of administering this Plan shall be borne by the Company.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.3</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The payment received from Optionee from the exercise of Stock Options under the Plan shall be used for the general corporate purposes of the Company.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.4</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The place of administration of the Plan shall be in the State of Nevada, and the validity, construction, interpretation, administration and effect of the Plan and of its rules and regulations, and rights relating to the Plan, shall be determined solely in accordance with the laws of the State of Nevada.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.5</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Without amending the Plan, grants may be made to persons who are foreign nationals or employed outside the United States, or both, on such terms and conditions, consistent with the Plan's purpose, different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to create equitable opportunities given differences in tax laws in other countries.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.6</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">In addition to such other rights of indemnification as they may have as members of the Board or the Committee, the members of the Committee shall be indemnified by the Company against all costs and expenses reasonably incurred by them in connection with any action, suit or proceeding to which they or any of them may be party by reason of any action taken or failure to act under or in connection with the Plan or any Stock Option granted thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except a judgment based upon a finding of bad faith; &nbsp;provided that upon the institution of any such action, suit or proceeding a Committee member shall, in writing, give the Company notice thereof and an opportunity, at its own expense, to handle and defend the same, with counsel acceptable to the Optionee, &nbsp;before such Committee member undertakes to handle and defend it on his own behalf.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.7</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Stock Options may be granted under this Plan from time to time, in substitution for stock options held by employees of other corporations who are about to become employees of the Company as the result of a merger or consolidation of the employing corporation with the Company or the acquisition by the Company of the assets of the employing corporation or the acquisition by the Company of stock of the employing corporation as a result of which it becomes a subsidiary of the Company. &nbsp;The terms and conditions of such substitute stock options so granted may vary from the terms and conditions set forth in this Plan to such extent as the Board of Directors of the Company at the time of grant may deem appropriate to conform, in whole or in part, to the provisions of the stock options in substitution for which they are granted, but no such variations shall be such as to affect the status of any such substitute stock options as a stock option under Section 422A of the Code.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">11.8</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Notwithstanding anything to the contrary in the Plan, if the Committee finds by a majority vote, after full consideration of the facts presented on behalf of both the Company and the Optionee, that the Optionee has been engaged in fraud, embezzlement, theft, insider trading in the Company's stock, commission of a felony or proven dishonesty in the course of his association with the Company or any subsidiary corporation which </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">damaged the Company or any subsidiary corporation, or for disclosing trade secrets of the Company or any subsidiary corporation, the Optionee shall forfeit all unexercised Stock Options and all exercised NQSO's under which the Company has not yet delivered the certificates and which have been earlier granted to the Optionee by the Committee. &nbsp;The decision of the Committee as to the cause of an Optionee's discharge and the damage done to the Company shall be final. &nbsp;No decision of the Committee, however, shall affect the finality of the discharge of such Optionee by the Company or any subsidiary corporation in any manner.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">12.</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Written Agreement</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">12.1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Each Stock Option granted hereunder shall be embodied in a written Stock Option Agreement which shall be subject to the terms and conditions prescribed above and shall be signed by the Optionee and by the President or any Vice President of the Company, for and in the name and on behalf of the Company. &nbsp;Such Stock Option Agreement shall contain such other provisions as the Committee, in its discretion shall deem advisable.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%">
  <tr>
    <td width="55%">Number of Shares: ______________&nbsp;&nbsp; </td>
    <td width="45%">Date of Grant: ___________</td>
  </tr>
</table>
<P style="margin-top:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:76.3pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">FORM OF NON-QUALIFIED STOCK OPTION AGREEMENT</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">AGREEMENT made this _____ day of ________ 200__, between (the &#147;Optionee&#148;), and International Sports and Media Group, Inc. (the &#147;Company&#148;).</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">1.</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Grant of Option</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; font-family:Times New Roman; font-size:12pt" align=justify>The Company, pursuant to the provisions of the AUGUST 2005 NON-QUALIFIED STOCK &amp; STOCK OPTION PLAN (the &#147;Plan&#148;), adopted by the Board of Directors on ________, 2005, the Company hereby grants to the Optionee, subject to the terms and conditions set forth or incorporated herein, an option to purchase from the Company all or any part of an aggregate of ________ shares of its $.001 par value common stock, as such common stock is now constituted, at the purchase price of $_____ per share. &nbsp;The provisions of the Plan governing the terms and conditions of the Option granted hereby are incorporated in full herein by reference.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">2.</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Exercise</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Option evidenced hereby shall be exercisable in whole or in part on or after _______ and on or before ____________, provided that the cumulative number of shares of common stock as to which this Option may be exercised (except in the event of death, retirement, or permanent and total disability, as provided in paragraph 6.9 of the Plan) shall not exceed the following amounts:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="77%">
  <tr>
    <td width="35%">
    <p align="center">Cumulative Number <br>
    <u>of Shares</u></td>
    <td width="65%">
    <p align="center">Prior to Date<U><br>
    (Note Inclusive of)</U></td>
  </tr>
</table>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Option evidenced hereby shall be exercisable by the delivery to and receipt by the Company of (i) &nbsp;written notice of election to exercise, in the form set forth in Attachment B hereto, specifying the number of shares to be purchased; &nbsp;(ii) &nbsp;accompanied by payment of the full purchase price thereof in cash or certified check payable to the order of the Company, or by fully paid and nonassessable common stock of the Company properly endorsed over to the Company, or by a combination thereof, and &nbsp;(iii) &nbsp;by return of this Stock Option Agreement for endorsement of exercise by the Company on Schedule I hereof. &nbsp;In the event fully paid and nonassessable common stock is submitted as whole or partial payment for shares to be purchased hereunder, such common stock will be valued at their Fair Market Value (as defined in the Plan) on the date such shares received by the Company are applied to payment of the exercise price.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="page-break-before:always; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3.</P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Transferability</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">The Option evidenced hereby is not assignable or transferable by the Optionee other than by the Optionee's will or by the laws of descent and distribution, as provided in paragraph 6.9 of the Plan. &nbsp;The Option shall be exercisable only by the Optionee during his lifetime.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp; <BR></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">International Sports and Media Group, Inc.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">By:<U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Name:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">ATTEST:</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Title:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">______________________________</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Secretary</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Optionee hereby acknowledges receipt of a copy of the Plan, attached hereto and accepts this Option subject to each and every term and provision of such Plan. &nbsp;Optionee hereby agrees to accept as binding, conclusive and final, all decisions or interpretations of the of the Board of Directors administering the Plan on any questions arising under such Plan. &nbsp;Optionee recognizes that if Optionee's employment with the Company or any subsidiary thereof shall be terminated without cause, or by the Optionee, prior to completion or satisfactory performance by Optionee (except as otherwise provided in paragraph 6 of the Plan) all of the Optionee's rights hereunder shall thereupon terminate; and that, pursuant to paragraph 6 of the Plan, this Option may not be exercised while there is outstanding to Optionee any unexercised Stock Option granted to Optionee before the date of grant of this Option.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Dated:_____________</P>
<P style="margin:0pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;</P>
<P style="margin:0pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">______________________________</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Optionee</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________________</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Print Name</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________________</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Address</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________________</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Social Security No.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
</P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">&nbsp;</p>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt">
<BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">ATTACHMENT B</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>NOTICE OF EXERCISE</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">To:</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">International Sports and Media Group, Inc.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>(1)</P>
<P style="margin-top:0pt; margin-bottom:12pt; text-indent:90pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The undersigned hereby elects to purchase ________ shares of Common Shares (the &#147;Common Shares&#148;), of International Sports and Media Group, Inc. pursuant to the terms of the attached Non-Qualified Stock Option Agreement, and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.</P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>(2)</P>
<P style="margin-top:0pt; margin-bottom:12pt; text-indent:90pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Please issue a certificate or certificates representing said shares of Common Shares in the name of the undersigned or in such other name as is specified below:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">______________________________</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(Name)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">______________________________</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(Address)</P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">______________________________</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Dated:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">______________________________</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:252pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Signature</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt; font-family:Times New Roman; font-size:7pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Optionee:<U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<U><P style="margin-top:0pt; margin-bottom:-14pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"></U>Date of Grant: </P>
<U><P style="margin:0pt; text-indent:468pt; font-family:Times New Roman; font-size:12pt"><BR></U></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; text-indent:199.2pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">SCHEDULE I</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<TABLE style="font-size:10pt" cellspacing=0><TR><TD style="border-left:3.6pt double #000000; border-top:3.6pt double #000000" valign=top width=146.867><P style="margin:0pt; font-family:Times New Roman"><B>DATE</B></P>
</TD><TD style="border-left:0.9pt solid #000000; border-top:3.6pt double #000000" valign=top width=154.2><P style="margin:0pt; font-family:Times New Roman"><B>SHARES PURCHASED</B></P>
</TD><TD style="border-left:0.9pt solid #000000; border-top:3.6pt double #000000" valign=top width=117.4><P style="margin:0pt; font-family:Times New Roman"><B>PAYMENT RECEIVED</B></P>
</TD><TD style="border-left:0.9pt solid #000000; border-top:3.6pt double #000000" valign=top width=124.8><P style="margin:0pt; font-family:Times New Roman"><B>UNEXERCISED</B></P>
<P style="margin:0pt; font-family:Times New Roman"><B>SHARES</B></P>
<P style="margin:0pt; font-family:Times New Roman"><B>REMAINING</B></P>
</TD><TD style="border-left:0.9pt solid #000000; border-top:3.6pt double #000000; border-right:3.6pt double #000000" valign=top width=80.6><P style="margin:0pt; font-family:Times New Roman"><B>ISSUING</B></P>
<P style="margin:0pt; font-family:Times New Roman"><B>OFFICER</B></P>
<P style="margin:0pt; font-family:Times New Roman"><B>INITIALS</B></P>
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<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
<TR><TD style="border-left:3.6pt double #000000; border-top:0.9pt solid #000000; border-bottom:3.6pt double #000000" valign=top width=146.867>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-bottom:3.6pt double #000000" valign=top width=154.2>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-bottom:3.6pt double #000000" valign=top width=117.4>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-bottom:3.6pt double #000000" valign=top width=124.8>&nbsp;</TD><TD style="border-left:0.9pt solid #000000; border-top:0.9pt solid #000000; border-right:3.6pt double #000000; border-bottom:3.6pt double #000000" valign=top width=80.6>&nbsp;</TD></TR>
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10.2</P>
<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Addendum to Fee Agreement with Richard O. Weed</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>WEED &amp; CO. LLP</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>4695 MACARTHUR COURT, SUITE 1430, NEWPORT BEACH, CALIFORNIA 92660<BR>
TELEPHONE (949) 475-9086 FACSIMILE (949) 475-9087</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>July 26, 2005</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Mr. Yan K. Skwara</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">President</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">International Sports and Media Group, Inc.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">3803 Mission Blvd., Suite 290</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">San Diego, CA 92109</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Tel. 858.488.7775 Fax 858.488.2828</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Re: International Sports and Media Group, Inc.; Addendum to Fee Agreement </P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Dear Yan:</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">This letter, when countersigned by you, will modify and amend the Fee Agreement with International Sports and Media Group, Inc. (&quot;ISME&quot;) dated October 4, 2004, as amended (the &quot;Agreement&quot;) to add the following terms:</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&quot;In exchange for services rendered, ISME shall issue to Richard O. Weed Five Million (5,000,000) shares of ISME's common stock to be registered in ISME's next Form S-8 Registration Statement.&quot;</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Further, pursuant to the Agreement, Richard O. Weed owns the following stock options:</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Options to purchase 2,000,000 shares of common stock at an exercise price of $.05 per share, expiring Dec. 31, 2010; and</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Options to purchase 1,000,000 shares of common stock at an exercise price of $.05 per share, expiring Dec. 31, 2010.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">These options will also be registered on ISME's next registration statement. The remainder of the terms and conditions of the Agreement will remain the same. We appreciate your attention to this matter and look forward to our continuing relationship with the Company.</P>
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<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Very truly yours,</P>
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<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">/s/ Richard O. Weed</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Richard O. Weed</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Managing Partner</P>
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<P style="page-break-before:always; margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">WEED &amp; CO. LLP</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Approved and Agreed</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">International Sports and Media Group, Inc.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">By:/s/ Yan K. Skwara</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Name: Yan K. Skwara </P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Title: President</P>
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<P style="page-break-before:always; margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">23.2 </P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Consent of HJ Associates &amp; Consultants LLP</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; " align=center><U>
<font size="2">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></U></P>
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<font size="2">To the Board of Directors and </font> </P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; ">
<font size="2">International Sports and Media, Inc. </font> </P>
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<font size="2">Los Angeles, CA</font></P>
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<font size="2">We hereby consent to the inclusion by reference of our audit report dated April 7, 2005, which includes an emphasis paragraph relating to the Company&#146;s ability to continue as a going concern, of International Sports and Media Group, Inc., for the year ended December 31, 2004, and to all references to our firm included in this Registration Statement on Form S-8.</font></P>
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<font size="2">HJ Associates &amp; Consultants, LLP</font></P>
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<font size="2">August 10, 2005</font></P>
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AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH _____, 2005
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON AUGUST __, 2005
REGISTRATION NO. _______________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
Form S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
International Sports and Media Group, Inc.
(Exact name of Registrant as specified in its charter)
Nevada
88-0350156
(State of other jurisdiction of incorporation of
incorporation or organization)
(IRS Employer
Identification No.)
11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064
(Address of Principal Executive Offices, including ZIP Code)
August 2005 Non-Qualified Stock & Stock Option Plan; Addendum to Fee Agreement with Richard O. Weed
(Full title of the plan)
Rite, Inc.
1905 South Eastern Avenue
Las Vegas, NV 89104
(Name and address of agent for service)
(702) 641-7557
(Telephone number, including area code, of agent for service)
1
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
Amount of
Shares
to be Registered(1)
Proposed
Maximum
Offering
Price Per Share
Proposed
Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
Common stock, $.001 par value
100,000,000
$.006
$600,000(2)
$70.62
Common stock, $.001 par value underlying options to purchase common stock
3,000,000
$.05
$150,000(3)
$17.66
TOTALS
103,000,000
$750,000
$88.28
(1)
Pursuant to Rule 416 this registration statement shall also cover any additional shares of common stock which may become issuable under the registrant's plans by reason of any stock dividend, stock split, recapitalization or any other similar transaction
(2)
This calculation is made solely for the purposes of determining the registration fee pursuant to the provisions of Rule 457(c) and (h) under the Securities Act of 1933, as amended, and is calculated on the basis of the average of the high and low prices per share of the common stock reported on the OTC Bulletin Board as of August 9, 2005, a date within five business days prior to the filing of this registration statement.
(3)
This calculation is made solely for the purposes of determining the registration fee pursuant to the provisions of Rule 457(c) and (h) under the Securities Act of 1933, as amended, and is calculated on the basis of the price at which the options may be exercised.
2
PROSPECTUS
International Sports and Media Group, Inc.
100,000,000 Shares of Common Stock
3,000,000 Shares of Common Stock Underlying
Options to Purchase Common Stock
This prospectus relates to the offer and sale by International Sports and Media, Inc., a Nevada corporation ("ISME"), of shares of its $.001 par value per share common stock to certain employees, officers, directors and consultants (the "Consultants") pursuant to the August 2005 Non-Qualified Stock & Stock Option Plan (the "Plan") and a consulting agreement (the "Consulting Agreement").  Pursuant to the Plan and the Consulting Agreement, ISME is registering hereunder and then issuing, upon receipt of adequate consideration therefore, to the Consultants, an aggregate of 100,000,000 shares of common stock and 3,000,000 shares underlying options to purchase common stock.
The common stock is not subject to any restriction on transferability.  Recipients of shares other than persons who are "affiliates" of ISME within the meaning of the Securities Act of 1933 (the "Act") may sell all or part of the shares in any way permitted by law, including sales in the over-the-counter market at prices prevailing at the time of such sale.  ISME is registering up to 94,000,000 shares hereunder for affiliates of the company.  An affiliate is summarily, any director, executive officer or controlling shareholder of ISME or anyone of its subsidiaries.  An "affiliate" of ISME is subject to Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act").  If a consultant who is not now an "affiliate" becomes an "affiliate" of ISME in the future, he/she would then be subject to Section 16(b) of the Exchange Act.  The common stock is traded on the OTC Bulletin Board under the symbol "ISME."  On August 9, 2005, the closing price for the common stock was $.006 per share.
These Securities Have Not Been Approved Or Disapproved By The Securities And Exchange Commission Nor Has The Commission Passed Upon The Accuracy Or Adequacy Of This Prospectus. Any Representation To The Contrary Is A Criminal Offense.
The date of this prospectus is August 9, 2005
3
This prospectus is part of a registration statement which was filed and became effective under the Securities Act of 1933, as amended (the "Securities Act"), and does not contain all of the information set forth in the registration statement, certain portions of which have been omitted pursuant to the rules and regulations promulgated by the U.S. Securities and Exchange Commission (the "Commission") under the Securities Act.  The statements in this prospectus as to the contents of any contracts or other documents filed as an exhibit to either the registration statement or other filings by ISME with the Commission are qualified in their entirety by the reference thereto.
A copy of any document or part thereof incorporated by reference in this prospectus but not delivered herewith will be furnished without charge upon written or oral request.  Requests should be addressed to:  International Sports and Media, Inc., 11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064.  ISME's telephone number is (310) 445-2599. ISME is subject to the reporting requirements of the Exchange Act and in accordance therewith files reports and other information with the Commission.  These reports, as well as the proxy statements, information statements and other information filed by ISME under the Exchange Act may be inspected and copied at the public reference facilities maintained by the Commission at 450 Fifth Street, N.W. Washington D.C. 20549.
No person has been authorized to give any information or to make any representation, other than those contained in this prospectus, and, if given or made, such other information or representation must not be relied upon as having been authorized by ISME.  This prospectus does not constitute an offer or a solicitation by anyone in any state in which such is not authorized or in which the person making such is not qualified or to any person to whom it is unlawful to make an offer or solicitation.
Neither the delivery of this prospectus nor any sale made hereunder shall, under any circumstances, create any implication that there has not been a change in the affairs of ISME since the date hereof.
4
TABLE OF CONTENTS
Information Required in the Section 10(a) Prospectus
6
Item 1.  The Plan Information
6
Item 2.  Registrant Information and Employee Plan Annual Information
7
Information Required in the Registration Statement
8
Item 3.  Incorporation of Documents by Reference
8
Item 4.  Description of Securities
8
Item 5.  Interests of Named Experts and Counsel
8
Item 6.  Indemnification of Directors and Officers
8
Item 7.  Exemption from Registration Claimed
10
Item 8.  Exhibits
10
Item 9.  Undertakings
10
Signatures
12
5
PART 1
INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS
Item 1.
The Plan Information.
The Company
ISME has its principal executive offices at 11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064. ISME's telephone number is (310) 445-2599.
Purpose
ISME will issue common stock to certain employees, officers, directors and consultants (the "Consultants") pursuant to the August 2005 Non-Qualified Stock & Stock Option Plan (the "Plan") and a consulting agreement which have been approved by the Board of Directors of ISME.  The Plan is intended to provide a method whereby ISME may be stimulated by the personal involvement of the Consultants in ISME's future prosperity, thereby advancing the interests of ISME, and all of its shareholders.  Copies of the Plan and the consulting agreement have been filed as exhibits to this registration statement.
Common Stock
The Board has authorized the issuance of up to 100,000,000 shares of the common stock to the Consultants and 3,000,000 shares of common stock underlying stock options upon effectiveness of this registration statement. The stock options are exercisable at $.05 per share and expire December 31, 2010.
No Restrictions on Transfer
The Consultants will become the record and beneficial owners of the shares of common stock upon issuance and delivery and are entitled to all of the rights of ownership, including the right to vote any shares awarded and to receive ordinary cash dividends on the common stock.
Tax Treatment to the Consultants
The common stock is not qualified under Section 401(a) of the Internal Revenue Code. The Consultants, therefore, will be required for federal income tax purposes to recognize compensation during the taxable year of issuance unless the shares are subject to a substantial risk of forfeiture.  Accordingly, absent a specific contractual provision to the contrary, the Consultants will receive compensation taxable at ordinary rates equal to the fair market value of the shares on the date of receipt since there will be no substantial risk of forfeiture or other restrictions on transfer.  If, however, the Consultants receive shares
6
of common stock pursuant to the exercise of an option or options at an exercise price below the fair market value of the shares on the date of exercise, the difference between the exercise price and the fair market value of the stock on the date of exercise will be deemed compensation for federal income tax purposes.  The Consultants are urged to consult each of their tax advisors on this matter.  Further, if any recipient is an "affiliate," Section 16(b) of the Exchange Act is applicable and will affect the issue of taxation.
Tax Treatment to the Company
The amount of income recognized by any recipient hereunder in accordance with the foregoing discussion will be a tax deductible expense by ISME for federal income tax purposes in the taxable year of ISME during which the recipient recognizes income.
Restrictions on Resales
In the event that an affiliate of ISME acquires shares of common stock hereunder, the affiliate will be subject to Section 16(b) of the Exchange Act. Further, in the event that any affiliate acquiring shares hereunder has sold or sells any shares of common stock in the six months preceding or following the receipt of shares hereunder, any so called "profit," as computed under Section 16(b) of the Exchange Act, would be required to be disgorged from the recipient to ISME. Services rendered have been recognized as valid consideration for the "purchase" of shares in connection with the "profit" computation under Section 16(b) of the Exchange Act. ISME has agreed that for the purpose of any "profit" computation under Section 16(b) of the Exchange Act, the price paid for the common stock issued to affiliates is equal to the value of services rendered. Shares of common stock acquired hereunder by persons other than affiliates are not subject to Section 16(b) of the Exchange Act.
Item 2.  Registrant Information and Employee Plan Annual Information
The documents incorporated by reference in Item 3 of Part II of the Form S-8, and any other documents required to be delivered pursuant to Rule 428(b), promulgated under the Securities Act, are available from the company, without charge, upon written or oral request. Requests for documents should be directed to the CEO of the company at 11301 Olympic Blvd., Suite 680, Los Angeles, CA 90064. The documents incorporated by reference in Item 3 of Part II of the Form S-8 are also incorporated in this Prospectus by reference thereto.
7
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents filed with the Securities and Exchange Commission (the "Commission") by International Sports and Media Group, Inc., a Nevada corporation (the "Company"), are incorporated herein by reference:
(a)
The Company's latest Annual Report on Form 10-KSB for the year ended December 31, 2004, filed with the Securities and Exchange Commission;
(b)
The reports of the Company filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") since the fiscal year ended December 31, 2004;
(c)
The description of the Company's common stock contained in its Form 10-SB filed September 30, 1999 (File No. 00027487), including any amendment or report filed for the purpose of updating such description.
(d)
All other documents filed by the Company after the date of this Registration Statement pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or de-registers all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing such documents.
Item 4.
Description of Securities.
Not applicable.
Item 5.
Interests of Named Experts and Counsel.
Weed & Co. LLP has rendered an opinion on the validity of the securities being registered.  Mr. Richard O. Weed, managing partner of Weed & Co. LLP, owns 2,000,000 restricted shares of the company's common stock and an option to purchase 3,000,000 shares of the company's common stock at an exercise price of $.05 per share. These options expire December 31, 2010. Mr. Weed will also receive an additional 5,000,000 shares of common stock in connection with this offering.
Item 6.
Indemnification of Directors and Officers
The company's officers and directors are indemnified as provided by the Nevada Revised Statutes and the company's bylaws.
8
Under the Nevada Revised Statutes, director immunity from liability to a company or its shareholders for monetary liabilities applies automatically unless it is specifically limited by a company's Articles of Incorporation, the Bylaws or by Agreement. The Articles of Incorporation do not specifically limit the directors' liability; however the Bylaws specify the extent and nature of any liability of directors, as detailed below. There are currently no agreements in effect, which would limit such liability. Excepted from that immunity are: (a) a willful failure to deal fairly with the company or its shareholders in connection with a matter in which the director has a material conflict of interest; (b) a violation of criminal law, unless the director had reasonable cause to believe that his or her conduct was lawful or no reasonable cause to believe that his or her conduct was unlawful; (c) a transaction from which the director derived an improper personal profit; and (d) willful misconduct.
International Sports and Media Group, Inc.'s bylaws provide that the company will indemnify the directors and officers to the fullest extent not prohibited by Nevada law; provided, however, that the company may modify the extent of such indemnification by individual contracts with the directors and officers; and, provided, further, that International Sports and Media Group shall not be required to indemnify any director or officer in connection with any proceeding, or part thereof, initiated by such person unless such indemnification: (a) is expressly required to be made by law, (b) the proceeding was authorized by the board of directors, (c) is provided by us, in International Sports and Media Group's sole discretion, pursuant to the powers vested us under Nevada law or (d) is required to be made pursuant to the bylaws.
The company's bylaws provide that the company will advance to any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he is or was a director or officer, of the company, or is or was serving at the request of the company as a director or executive officer of another company, partnership, joint venture, trust or other enterprise, prior to the final disposition of the proceeding, promptly following request therefore, all expenses incurred by any director or officer in connection with such proceeding upon receipt of an undertaking by or on behalf of such person to repay said amounts if it should be determined ultimately that such person is not entitled to be indemnified under the bylaws or otherwise.
The company's bylaws provide that no advance shall be made by it to an officer of the company, except by reason of the fact that such officer is or was a director of the company in which event this paragraph shall not apply, in any action, suit or proceeding, whether civil, criminal, administrative or investigative, if a determination is reasonably and promptly made: (a) by the board of directors by a majority vote of a quorum consisting of directors who were not parties to the proceeding, or (b) if such quorum is not obtainable, or, even if obtainable, a quorum of disinterested directors so directs, by independent legal counsel in a written opinion, that the facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not
9
believe to be in or not opposed to the best interests of International Sports and Media Group.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling an issuer pursuant to the foregoing provisions, the opinion of the Commission is that such indemnification is against public policy as expressed in the Securities Act of 1933 and is therefore unenforceable.
Item 7.
Exemption from Registration Claimed.
Not applicable.
Item 8.
Exhibits.
(a)
The following exhibits are filed as part of this registration statement pursuant to Item 601 of the Regulation S-K and are specifically incorporated herein by this reference:
Exhibit No.
Title
5
Opinion of Weed & Co. LLP
10.1
August 2005 Non-Qualified Stock & Stock Option Plan
10.2
Addendum to Fee Agreement with Richard O. Weed
23.1
Consent of Weed & Co. LLP (included in Exhibit 5)
23.2
Consent of HJ Associates & Consultants LLP
Item 9.
Undertakings.
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to:
(i)
include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represents a fundamental change in the information set forth in the registration statement;
10
(iii)
include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement.
Provided, however, that paragraphs (1)(i) and (1)(ii) shall not apply if registration statement is on Form S-3, Form S-8 or Form F-3, and the information required [or] to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.
(2)
That, for the purpose of determining any liability pursuant to the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities offered at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of registrant pursuant to the foregoing provisions, or otherwise, registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by registrant of expenses incurred or paid by a director, officer or controlling person of registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
(5)
The undersigned hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of registrant's annual report pursuant to Section 13(a) of the Securities Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
11
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California, on August 9, 2005.
INTERNATIONAL SPORTS AND MEDIA, INC.
(Registrant)
/s/ Gordon F. Lee
Gordon F. Lee
Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.
Signatures
Title
Date
/s/Gordon F. Lee
Gordon F. Lee
Chief Executive Officer, Chief Financial Officer (Controller)
August 9, 2005
/s/Manolo Cevallo
Manolo Cevallo
President
August 9, 2005
/s/Yan Skwara
Yan Skwara
Director
August 9, 2005
/s/Lonn Paul
Lonn Paul
Secretary, Director
August 9, 2005
12
5 -- Opinion of Weed & Co. LLP
WEED & CO. LLP
4695 MACARTHUR COURT, SUITE 1430, NEWPORT BEACH, CALIFORNIA  92660-2164
TELEPHONE (949) 475-9086 FACSIMILE (949) 475-9087
August 9, 2005
Board of Directors
International Sports and Media Group, Inc.
11301 Olympic Boulevard, Suite 680
Los Angeles, CA 90064
Re:  Form S-8 Registration Statement; Opinion of Counsel
Dear Members of the Board:
You have requested our opinion with respect to certain matters in connection with International Sports and Media Group, Inc.'s (the "Company") filing of a registration statement on Form S-8 (the "Registration Statement") with the Securities and Exchange Commission covering the offering of an aggregate of 100,000,000 shares of the Company's common stock, $.001 par value and 3,000,000 shares underlying options to purchase common stock (the "Shares"), pursuant to the August 2005 Non-Qualified Stock & Stock Option Plan (the "Stock Plan") and a consulting agreement.
In connection with this opinion, we have examined the Registration Statement and such other documents, records, certificates, memoranda and other instruments as we deemed necessary for the basis of this opinion. We have assumed the genuineness and authenticity of all documents submitted to us as originals and the conformity to originals of all documents submitted to us as copies and the due execution and delivery of all documents where due execution and delivery are a prerequisite to the effectiveness thereof.
On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when sold and issued in accordance with the Stock Plan, the consulting agreement and the Registration Statement and related prospectus, will be legally issued, fully paid and non-assessable.
We consent to the use of our opinion as an exhibit to the Form S-8 Registration Statement and to the reference to this firm in any prospectus which is incorporated by reference into and made a part of the Registration Statement.
Very truly yours,
/s/ Weed & Co. LLP
Weed & Co. LLP
10.1
August 2005 Non-Qualified Stock & Stock Option Plan
AUGUST 2005 NON-QUALIFIED STOCK & STOCK OPTION PLAN
1.
Purpose of Plan
1.1
This  AUGUST 2005 NON-QUALIFIED STOCK & STOCK OPTION PLAN (the "Plan") of International Sports and Media Group, Inc, a Nevada corporation (the "Company") for employees, officers, directors, consultants and other persons associated with the Company, is intended to advance the best interests of the Company by providing those persons who have a substantial responsibility for its management and growth with additional incentive and by increasing their proprietary interest in the success of the Company, thereby encouraging them to maintain their relationships with the Company.  Further, the availability and offering of stock options and common stock under the Plan supports and increases the Company's ability to attract and retain individuals of exceptional talent upon whom, in large measure, the sustained progress, growth and profitability of the Company depends.
2.
Definitions
2.1
For Plan purposes, except where the context might clearly indicate otherwise, the following terms shall have the meanings set forth below:
"Board" shall mean the Board of Directors of the Company.
"Committee" shall mean the Compensation Committee, or such other committee appointed by the Board, which shall be designated by the Board to administer the Plan, or the Board if no committees have been established.  The Committee shall be composed of
three or more persons
as from time to time are appointed to serve by the Board.  Each member of the Committee, while serving as such, shall be a disinterested person with the meaning of Rule 16b-3 promulgated under the Securities Exchange Act of 1934.
"Common Shares" shall mean the Company's Common Shares, $.001 par value per share, or, in the event that the outstanding Common Shares are hereafter changed into or exchanged for different shares of securities of the Company, such other shares or securities.
"Company" shall mean International Sports and Media Group, Inc., a Nevada corporation, and any parent or subsidiary corporation of International Sports and Media Group, Inc., as such terms are defined in Sections 425(e) and 425(f), respectively, of the Code.
"Fair Market Value" shall mean, with respect to the date a given stock option is granted or exercised, the average of the highest and lowest reported sales prices of the Common Shares, as reported by such responsible reporting service as the Committee may
select, or if there were not transactions in the Common Shares on such day, then the last preceding day on which transactions took place.  The above withstanding, the Committee may determine the Fair Market Value in such other manner as it may deem more equitable for Plan purposes or as is required by applicable laws or regulations.
"Optionee" shall mean an employee of the company who has been granted one or more Stock Options under the Plan.
"Common Stock" shall mean shares of common stock which are issued by the Company pursuant to Section 5, below.
"Common Stockholder"
means the employee of, consultant to, or director of the Company or other person to whom shares of Common Stock are issued pursuant to this Plan.
"Common Stock Agreement" means an agreement executed by a Common Stockholder and the Company as contemplated by Section 5, below, which imposes on the shares of Common Stock held by the Common Stockholder such restrictions as the Board or Committee deem appropriate.
"Stock Option" or "Non-Qualified Stock Option" or "NQSO" shall mean a stock option granted pursuant to the terms of the Plan.
"Stock Option Agreement" shall mean the agreement between the Company and the Optionee under which the Optionee may purchase Common Shares hereunder.
3.
Administration of the Plan
3.1
The Committee shall administer the Plan and accordingly, it shall have full power to grant Stock Options and Common Stock, construe and interpret the Plan, establish rules and regulations and perform all other acts, including the delegation of administrative responsibilities, it believes reasonable and proper.
3.2
The determination of those eligible to receive Stock Options and Common Stock, and the amount, type and timing of each grant and the terms and conditions of the respective stock option agreements and Common stock agreements shall rest in the sole discretion of the Committee, subject to the provisions of the Plan.
3.3
The Committee may cancel any Stock Options awarded under the Plan if an Optionee conducts himself in a manner which the Committee determines to be inimical to the best interest of the Company, as set forth more fully in paragraph 8 of Article 11 of the Plan.
3.4
The Board, or the Committee, may correct any defect, supply any omission or reconcile any inconsistency in the Plan, or in any granted Stock Option, in the manner and to the extent it shall deem necessary to carry it into effect.
3.5
Any decision made, or action taken, by the Committee or the Board arising out of or in connection with the interpretation and administration of the Plan shall be final and conclusive.
3.6
Meetings of the Committee shall be held at such times and places as shall be determined by the Committee.  A majority of the members of the Committee shall constitute a quorum for the transaction of business, and the vote of a majority of those members present at any meeting shall decide any question brought before that meeting.  In addition, the Committee may take any action otherwise proper under the Plan by the affirmative vote, taken without a meeting, of a majority of its members.
3.7
No member of the Committee shall be liable for any act or omission of any other member of the Committee or for any act or omission on his own part, including, but not limited to, the exercise of any power or discretion given to him under the Plan, except those resulting from his own gross negligence or willful misconduct.
3.8
The Company, through its management, shall supply full and timely information to the Committee on all matters relating to the eligibility of Optionees, their duties and performance, and current information on any Optionee's death, retirement, disability or other termination of association with the Company, and such other pertinent information as the Committee may require.  The Company shall furnish the Committee with such clerical and other assistance as is necessary in the performance of its duties hereunder.
4.
Shares Subject to the Plan
4.1
The total number of shares of the Company available for grants of Stock Options and Common Stock under the Plan shall be 95,000,000 Common Shares, subject to adjustment in accordance with Article 7 of the Plan, which shares may be either authorized but unissued or reacquired Common Shares of the Company.
4.2
If a Stock Option or portion thereof shall expire or terminate for any reason without having been exercised in full, the unpurchased shares covered by such NQSO shall be available for future grants of Stock Options.
5.
Award Of Common Stock
5.1
The Board or Committee from time to time, in its absolute discretion, may (a) award Common Stock to employees of, consultants to, and directors of the Company, and such other persons as the Board or Committee may select, and (b) permit Holders of Options to exercise such Options prior to full vesting therein and hold the Common Shares issued upon exercise of the Option as Common Stock.  In either such event, the owner of such Common Stock shall hold such stock subject to such vesting schedule as the Board or Committee may impose or such vesting schedule to which the Option was subject, as determined in the discretion of the Board or Committee.
5.2
Common Stock shall be issued only pursuant to a Common Stock Agreement, which shall be executed by the Common Stockholder and the Company and which shall contain such terms and conditions as the Board or Committee shall determine consistent with this Plan, including such restrictions on transfer as are imposed by the Common Stock Agreement.
5.3
Upon delivery of the shares of Common Stock to the Common Stockholder, below, the Common Stockholder shall have, unless otherwise provided by the Board or Committee, all the rights of a stockholder with respect to said shares, subject to the restrictions in the Common Stock Agreement, including the right to receive all dividends and other distributions paid or made with respect to the Common Stock.
5.4.
Notwithstanding anything in this Plan or any Common Stock Agreement to the contrary, no Common Stockholders may sell or otherwise transfer, whether or not for value, any of the Common Stock prior to the date on which the Common Stockholder is vested therein.
5.5
All shares of Common Stock issued under this Plan (including any shares of Common Stock and other securities issued with respect to the shares of Common Stock as a result of stock dividends, stock splits or similar changes in the capital structure of the Company) shall be subject to such restrictions as the Board or Committee shall provide, which restrictions may include, without limitation, restrictions concerning voting rights, transferability of the Common Stock and restrictions based on duration of employment with the Company, Company performance and individual performance; provided that the Board or Committee may, on such terms and conditions as it may determine to be appropriate, remove any or all of such restric­tions.  Common Stock may not be sold or encumbered until all applicable restrictions have terminated or expire.  The restrictions, if any, imposed by the Board or Committee or the Board under this Section 5 need not be identical for all Common Stock and the imposition of any restrictions with respect to any Common Stock shall not require the imposition of the same or any other restrictions with respect to any other Common Stock.
5.6
Each Common Stock Agreement shall provide that the Company shall have the right to repurchase from the Common Stockholder the unvested Common Stock upon a termination of employment, termination of directorship or termination of a consultancy arrangement, as applicable, at a cash price per share equal to the purchase price paid by the Common Stockholder for such Common Stock.
5.7
In the discretion of the Board or Committee, the Common Stock Agreement may provide that the Company shall have the a right of first refusal with respect to the Common Stock and a right to repurchase the vested Common Stock upon a termination of the Common Stockholder's employment with the Company, the termination of the Common Stockholder's consulting arrangement with the Company, the termination of the Common Stockholder's service on the Company's Board, or such other events as the Board or Committee may deem appropriate.
5.8
The Board or Committee shall cause a legend or legends to be placed on certificates representing shares of Common Stock that are subject to restrictions under Common Stock Agreements, which legend or legends shall make appropriate reference to the applicable restrictions.
6.
Stock Option Terms and Conditions
6.1
Consistent with the Plan's purpose, Stock Options may be granted to non-employee directors of the Company or other persons who are performing or who have been engaged to perform services of special importance to the management, operation or development of the Company.
6.2
All Stock Options granted under the Plan shall be evidenced by agreements which shall be subject to applicable provisions of the Plan, and such other provisions as the Committee may adopt, including the provisions set forth in paragraphs 2 through 11 of this Section 6.
6.3
All Stock Options granted hereunder must be granted within ten years from the earlier of the date of this Plan is adopted or approved by the Company's shareholders.
6.4
No Stock Option granted to any employee or 10% Shareholder shall be exercisable after the expiration of ten years from the date such NQSO is granted.  The Committee, in its discretion, may provide that an Option shall be exercisable during such ten year period or during any lesser period of time.
The Committee may establish installment exercise terms for a Stock Option such that the NQSO becomes fully exercisable in a series of cumulating portions.  If an Optionee shall not, in any given installment period, purchase all the Common Shares which such Optionee is entitled to purchase within such installment period, such Optionee's right to purchase any Common Shares not purchased in such installment period shall continue until the expiration or sooner termination of such NQSO.  The Committee may also accelerate the exercise of any NQSO.  However, no NQSO, or any portion thereof, may be exercisable until thirty (30) days following date of grant ("30-Day Holding Period.").
6.5
A Stock Option, or portion thereof, shall be exercised by delivery of (i)  a written notice of exercise of the Company specifying the number of common shares to be purchased, and (ii)  payment of the full price of such Common Shares, as fully set forth in paragraph 6 of this Section 6.
No NQSO or installment thereof shall be exercisable except with respect to whole shares, and fractional share interests shall be disregarded.  Not less than 100 Common Shares may be purchased at one time unless the number purchased is the total number at the time available for purchase under the NQSO.  Until the Common Shares represented by an exercised NQSO are issued to an Optionee, he shall have none of the rights of a shareholder.
6.6
The exercise price of a Stock Option, or portion thereof, may be paid:
A.
In United States dollars, in cash or by cashier's check, certified check, bank draft or money order, payable to the order of the Company in an amount equal to the option price;  or
B.
At the discretion of the Committee, through the delivery of fully paid and nonassessable Common Shares, with an aggregate Fair Market Value on the date the NQSO is exercised equal to the option price, provided such tendered Shares have been owned by the Optionee for at least one year prior to such exercise;  or
C.
By a combination of both A and B above.
The Committee shall determine acceptable methods for tendering Common Shares as payment upon exercise of a Stock Option and may impose such limitations and prohibitions on the use of Common Shares to exercise an NQSO as it deems appropriate.
6.7
With the Optionee's consent, the Committee may cancel any Stock Option issued under this Plan and issue a new NQSO to such Optionee.
6.8
Except by will or the laws of descent and distribution, no right or interest in any Stock Option granted under the Plan shall be assignable or transferable, and no right or interest of any Optionee shall be liable for, or subject to, any lien, obligation or liability of the Optionee.  Stock Options shall be exercisable during the Optionee's lifetime only by the Optionee or the duly appointed legal representative of an incompetent Optionee.
6.9
If the Optionee shall die while associated with the Company or within three months after termination of such association, the personal representative or administrator of the Optionee's estate or the person(s) to whom an NQSO granted hereunder shall have been validly transferred by such personal representative or administrator pursuant to the Optionee's will or the laws of descent and distribution, shall have the right to exercise the NQSO for one year after the date of the Optionee's death, to the extent (i)  such NQSO was exercisable on the date of such termination of employment by death, and (ii) such NQSO was not exercised, and (iii)  the exercise period may not be extended beyond the expiration of the term of the Option.
No transfer of a Stock Option by the will of an Optionee or by the laws of descent and distribution shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and an authenticated copy of the will and/or such other evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferee of the terms and conditions by such Stock Option.
In the event of death following termination of the Optionee's association with the Company while any portion of an NQSO remains exercisable, the Committee, in its discretion, may provide for an extension of the exercise period of up to one year after the Optionee's death but not beyond the expiration of the term of the Stock Option.
6.10
Any Optionee who disposes of Common Shares acquired on the exercise of a NQSO by sale or exchange either (i) within two years after the date of the grant of the NQSO under which the stock was acquired, or (ii) within one year after the acquisition of such Shares, shall notify the Company of such disposition and of the amount realized upon such disposition.  The transfer of Common Shares may also be Common by applicable provisions of the Securities Act of 1933, as amended.
7.
Adjustments or Changes in Capitalization
7.1
In the event that the outstanding Common Shares of the Company are hereafter changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of merger, consolidation, other reorganization, recapitalization, reclassification, combination of shares, stock split-up or stock dividend:
A.
Prompt, proportionate, equitable, lawful and adequate adjustment shall be made of the aggregate number and kind of shares subject to Stock Options which may be granted under the Plan, such that the Optionee shall have the right to purchase such Common Shares as may be issued in exchange for the Common Shares purchasable on exercise of the NQSO had such merger, consolidation, other reorganization, recapitalization, reclassification, combination of shares, stock split-up or stock dividend not taken place;
B.
Rights under unexercised Stock Options or portions thereof granted prior to any such change, both as to the number or kind of shares and the exercise price per share, shall be adjusted appropriately, provided that such adjustments shall be made without change in the total exercise price applicable to the unexercised portion of such NQSO's but by an adjustment in the price for each share covered by such NQSO's;  or
C.
Upon any dissolution or liquidation of the Company or any merger or combination in which the Company is not a surviving corporation, each outstanding Stock Option granted hereunder shall terminate, but the Optionee shall have the right, immediately prior to such dissolution, liquidation, merger or combination, to exercise his NQSO in whole or in part, to the extent that it shall not have been exercised, without regard to any installment exercise provisions in such NQSO.
7.2
The foregoing adjustments and the manner of application of the foregoing provisions shall be determined solely by the Committee, whose determination as to what adjustments shall be made and the extent thereof, shall be final, binding and conclusive.  No fractional Shares shall be issued under the Plan on account of any such adjustments.
8.
Merger, Consolidation or Tender Offer
8.1
If the Company shall be a party to a binding agreement to any merger, consolidation or reorganization or sale of substantially all the assets of the Company, each outstanding Stock Option shall pertain and apply to the securities and/or property which a shareholder of the number of Common Shares of the Company subject to the NQSO would
be entitled to receive pursuant to such merger, consolidation or reorganization or sale of assets.
8.2
In the event that:
A.
Any person other than the Company shall acquire more than 20% of the Common Shares of the Company through a tender offer, exchange offer or otherwise;
B.
A change in the "control" of the Company occurs, as such term is defined in Rule 405 under the Securities Act of 1933;
C.
There shall be a sale of all or substantially all of the assets of the Company;
any then outstanding Stock Option held by an Optionee, who is deemed by the Committee to be a statutory officer ("Insider") for purposes of Section 16 of the Securities Exchange Act of 1934 shall be entitled to receive, subject to any action by the Committee revoking such an entitlement as provided for below, in lieu of exercise of such Stock Option, to the extent that it is then exercisable, a cash payment in an amount equal to the difference between the aggregate exercise price of such NQSO, or portion thereof, and, (i)  in the event of an offer or similar event, the final offer price per share paid for Common Shares, or such lower price as the Committee may determine to conform an option to preserve its Stock Option status, times the number of Common Shares covered by the NQSO or portion thereof, or (ii)  in the case of an event covered by B or C above, the aggregate Fair Market Value of the Common Shares covered by the Stock Option, as determined by the Committee at such time.
8.3
Any payment which the Company is required to make pursuant to paragraph 8.2 of this Section 8 shall be made within 15 business days, following the event which results in the Optionee's right to such payment.  In the event of a tender offer in which fewer than all the shares which are validly tendered in compliance with such offer are purchased or exchanged, then only that portion of the shares covered by an NQSO as results from multiplying such shares by a fraction, the numerator of which is the number of Common Shares acquired pursuant to the offer and the denominator of which is the number of Common Shares tendered in compliance with such offer shall be used to determine the payment thereupon.  To the extent that all or any portion of a Stock Option shall be affected by this provision, all or such portion of the NQSO shall be terminated.
8.4
Notwithstanding paragraphs 8.1 and 8.3 of this Section 8, the Committee may, by unanimous vote and resolution, unilaterally revoke the benefits of the above provisions;  provided, however, that such vote is taken no later than ten business days following public announcement of the intent of an offer or the change of control, whichever occurs earlier.
9.
Amendment and Termination of Plan
9.1
The Board may at any time, and from time to time, suspend or terminate the Plan in whole or in part or amend it from time to time in such respects as the Board may deem appropriate and in the best interest of the Company.
9.2
No amendment, suspension or termination of this Plan shall, without the Optionee's consent, alter or impair any of the rights or obligations under any Stock Option theretofore granted to him under the Plan.
9.3
The Board may amend the Plan, subject to the limitations cited above, in such manner as it deems necessary to permit the granting of Stock Options  meeting the requirements of future amendments or issued regulations, if any, to the  Code.
9.4
No NQSO may be granted during any suspension of the Plan or after termination of the Plan.
10.
Government and Other Regulations
10.1
The obligation of the Company to issue, transfer and deliver Common Shares for Stock Options exercised under the Plan shall be subject to all applicable laws, regulations, rules, orders and approval which shall then be in effect and required by the relevant stock exchanges on which the Common Shares are traded and by government entities as set forth below or as the Committee in its sole discretion shall deem necessary or advisable.  Specifically, in connection with the Securities Act of 1933, as amended, upon exercise of any Stock Option, the Company shall not be required to issue Common Shares unless the Committee has received evidence satisfactory to it to the effect that the Optionee will not transfer such shares except pursuant to a registration statement in effect under such Act or unless an opinion of counsel satisfactory to the Company has been received by the Company to the effect that such registration is not required.  Any determination in this connection by the Committee shall be final, binding and conclusive.  The Company may, but shall in no event be obligated to, take any other affirmative action in order to cause the exercise of a Stock Option or the issuance of Common Shares pursuant thereto to comply with any law or regulation of any government authority.
11.
Miscellaneous Provisions
11.1
No person shall have any claim or right to be granted a Stock Option or Common Stock under the Plan, and the grant of an NQSO or Common Stock under the Plan shall not be construed as giving an Optionee or Common Stockholder the right to be retained by the Company.  Furthermore, the Company expressly reserves the right at any time to terminate its relationship with an Optionee with or without cause, free from any liability, or any claim under the Plan, except as provided herein, in an option agreement, or in any agreement between the Company and the Optionee.
11.2
Any expenses of administering this Plan shall be borne by the Company.
11.3
The payment received from Optionee from the exercise of Stock Options under the Plan shall be used for the general corporate purposes of the Company.
11.4
The place of administration of the Plan shall be in the State of Nevada, and the validity, construction, interpretation, administration and effect of the Plan and of its rules and regulations, and rights relating to the Plan, shall be determined solely in accordance with the laws of the State of Nevada.
11.5
Without amending the Plan, grants may be made to persons who are foreign nationals or employed outside the United States, or both, on such terms and conditions, consistent with the Plan's purpose, different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to create equitable opportunities given differences in tax laws in other countries.
11.6
In addition to such other rights of indemnification as they may have as members of the Board or the Committee, the members of the Committee shall be indemnified by the Company against all costs and expenses reasonably incurred by them in connection with any action, suit or proceeding to which they or any of them may be party by reason of any action taken or failure to act under or in connection with the Plan or any Stock Option granted thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except a judgment based upon a finding of bad faith;  provided that upon the institution of any such action, suit or proceeding a Committee member shall, in writing, give the Company notice thereof and an opportunity, at its own expense, to handle and defend the same, with counsel acceptable to the Optionee,  before such Committee member undertakes to handle and defend it on his own behalf.
11.7
Stock Options may be granted under this Plan from time to time, in substitution for stock options held by employees of other corporations who are about to become employees of the Company as the result of a merger or consolidation of the employing corporation with the Company or the acquisition by the Company of the assets of the employing corporation or the acquisition by the Company of stock of the employing corporation as a result of which it becomes a subsidiary of the Company.  The terms and conditions of such substitute stock options so granted may vary from the terms and conditions set forth in this Plan to such extent as the Board of Directors of the Company at the time of grant may deem appropriate to conform, in whole or in part, to the provisions of the stock options in substitution for which they are granted, but no such variations shall be such as to affect the status of any such substitute stock options as a stock option under Section 422A of the Code.
11.8
Notwithstanding anything to the contrary in the Plan, if the Committee finds by a majority vote, after full consideration of the facts presented on behalf of both the Company and the Optionee, that the Optionee has been engaged in fraud, embezzlement, theft, insider trading in the Company's stock, commission of a felony or proven dishonesty in the course of his association with the Company or any subsidiary corporation which
damaged the Company or any subsidiary corporation, or for disclosing trade secrets of the Company or any subsidiary corporation, the Optionee shall forfeit all unexercised Stock Options and all exercised NQSO's under which the Company has not yet delivered the certificates and which have been earlier granted to the Optionee by the Committee.  The decision of the Committee as to the cause of an Optionee's discharge and the damage done to the Company shall be final.  No decision of the Committee, however, shall affect the finality of the discharge of such Optionee by the Company or any subsidiary corporation in any manner.
12.
Written Agreement
12.1
Each Stock Option granted hereunder shall be embodied in a written Stock Option Agreement which shall be subject to the terms and conditions prescribed above and shall be signed by the Optionee and by the President or any Vice President of the Company, for and in the name and on behalf of the Company.  Such Stock Option Agreement shall contain such other provisions as the Committee, in its discretion shall deem advisable.
Number of Shares: ______________
Date of Grant: ___________
FORM OF NON-QUALIFIED STOCK OPTION AGREEMENT
AGREEMENT made this _____ day of ________ 200__, between (the "Optionee"), and International Sports and Media Group, Inc. (the "Company").
1.
Grant of Option
The Company, pursuant to the provisions of the AUGUST 2005 NON-QUALIFIED STOCK & STOCK OPTION PLAN (the "Plan"), adopted by the Board of Directors on ________, 2005, the Company hereby grants to the Optionee, subject to the terms and conditions set forth or incorporated herein, an option to purchase from the Company all or any part of an aggregate of ________ shares of its $.001 par value common stock, as such common stock is now constituted, at the purchase price of $_____ per share.  The provisions of the Plan governing the terms and conditions of the Option granted hereby are incorporated in full herein by reference.
2.
Exercise
The Option evidenced hereby shall be exercisable in whole or in part on or after _______ and on or before ____________, provided that the cumulative number of shares of common stock as to which this Option may be exercised (except in the event of death, retirement, or permanent and total disability, as provided in paragraph 6.9 of the Plan) shall not exceed the following amounts:
Cumulative Number
of Shares
Prior to Date
(Note Inclusive of)
The Option evidenced hereby shall be exercisable by the delivery to and receipt by the Company of (i)  written notice of election to exercise, in the form set forth in Attachment B hereto, specifying the number of shares to be purchased;  (ii)  accompanied by payment of the full purchase price thereof in cash or certified check payable to the order of the Company, or by fully paid and nonassessable common stock of the Company properly endorsed over to the Company, or by a combination thereof, and  (iii)  by return of this Stock Option Agreement for endorsement of exercise by the Company on Schedule I hereof.  In the event fully paid and nonassessable common stock is submitted as whole or partial payment for shares to be purchased hereunder, such common stock will be valued at their Fair Market Value (as defined in the Plan) on the date such shares received by the Company are applied to payment of the exercise price.
3.
Transferability
The Option evidenced hereby is not assignable or transferable by the Optionee other than by the Optionee's will or by the laws of descent and distribution, as provided in paragraph 6.9 of the Plan.  The Option shall be exercisable only by the Optionee during his lifetime.
International Sports and Media Group, Inc.
By:
Name:
ATTEST:
Title:
______________________________
Secretary
Optionee hereby acknowledges receipt of a copy of the Plan, attached hereto and accepts this Option subject to each and every term and provision of such Plan.  Optionee hereby agrees to accept as binding, conclusive and final, all decisions or interpretations of the of the Board of Directors administering the Plan on any questions arising under such Plan.  Optionee recognizes that if Optionee's employment with the Company or any subsidiary thereof shall be terminated without cause, or by the Optionee, prior to completion or satisfactory performance by Optionee (except as otherwise provided in paragraph 6 of the Plan) all of the Optionee's rights hereunder shall thereupon terminate; and that, pursuant to paragraph 6 of the Plan, this Option may not be exercised while there is outstanding to Optionee any unexercised Stock Option granted to Optionee before the date of grant of this Option.
Dated:_____________
______________________________
Optionee
______________________________
Print Name
______________________________
Address
______________________________
Social Security No.
ATTACHMENT B
NOTICE OF EXERCISE
To:
International Sports and Media Group, Inc.
(1)
The undersigned hereby elects to purchase ________ shares of Common Shares (the "Common Shares"), of International Sports and Media Group, Inc. pursuant to the terms of the attached Non-Qualified Stock Option Agreement, 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 shares of Common Shares in the name of the undersigned or in such other name as is specified below:
______________________________
(Name)
______________________________
(Address)
______________________________
Dated:
______________________________
Signature
Optionee:
Date of Grant:
SCHEDULE I
DATE
SHARES PURCHASED
PAYMENT RECEIVED
UNEXERCISED
SHARES
REMAINING
ISSUING
OFFICER
INITIALS
10.2
Addendum to Fee Agreement with Richard O. Weed
WEED & CO. LLP
4695 MACARTHUR COURT, SUITE 1430, NEWPORT BEACH, CALIFORNIA 92660
TELEPHONE (949) 475-9086 FACSIMILE (949) 475-9087
July 26, 2005
Mr. Yan K. Skwara
President
International Sports and Media Group, Inc.
3803 Mission Blvd., Suite 290
San Diego, CA 92109
Tel. 858.488.7775 Fax 858.488.2828
Re: International Sports and Media Group, Inc.; Addendum to Fee Agreement
Dear Yan:
This letter, when countersigned by you, will modify and amend the Fee Agreement with International Sports and Media Group, Inc. ("ISME") dated October 4, 2004, as amended (the "Agreement") to add the following terms:
"In exchange for services rendered, ISME shall issue to Richard O. Weed Five Million (5,000,000) shares of ISME's common stock to be registered in ISME's next Form S-8 Registration Statement."
Further, pursuant to the Agreement, Richard O. Weed owns the following stock options:
Options to purchase 2,000,000 shares of common stock at an exercise price of $.05 per share, expiring Dec. 31, 2010; and
Options to purchase 1,000,000 shares of common stock at an exercise price of $.05 per share, expiring Dec. 31, 2010.
These options will also be registered on ISME's next registration statement. The remainder of the terms and conditions of the Agreement will remain the same. We appreciate your attention to this matter and look forward to our continuing relationship with the Company.
Very truly yours,
/s/ Richard O. Weed
Richard O. Weed
Managing Partner
WEED & CO. LLP
Approved and Agreed
International Sports and Media Group, Inc.
By:/s/ Yan K. Skwara
Name: Yan K. Skwara
Title: President
23.2
Consent of HJ Associates & Consultants LLP
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and
International Sports and Media, Inc.
Los Angeles, CA
We hereby consent to the inclusion by reference of our audit report dated April 7, 2005, which includes an emphasis paragraph relating to the Company's ability to continue as a going concern, of International Sports and Media Group, Inc., for the year ended December 31, 2004, and to all references to our firm included in this Registration Statement on Form S-8.
HJ Associates & Consultants, LLP
Salt Lake City, Utah
August 10, 2005