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<TITLE><B>SECURITIES AND EXCHANGE COMMISSION &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;&nbsp;</TITLE>
<META NAME="author" CONTENT="Test">
<META NAME="date" CONTENT="09/23/2003">
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Washington, D.C. &nbsp;20549</B></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>FORM 8-K</B></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>CURRENT REPORT</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B><U>September 23, 2003</U></B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:10pt; font-family:Times New Roman; font-size:8pt" align=center>Date of Report (Date of earliest event reported)</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:20pt; font-family:Times New Roman; font-size:18pt" align=center><B><U>ENTERPRISE TECHNOLOGIES, INC.</U></B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:10pt; font-family:Times New Roman; font-size:8pt" align=center>(Exact name of registrant as specified in its charter)</P>
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<TABLE style="margin-right:72pt" cellspacing=0><TR><TD valign=top width=224.733><P style="margin:0pt; font-family:Times New Roman" align=center><B><U>Nevada</U></B></P>
<P style="margin:0pt; line-height:10pt; font-family:Times New Roman; font-size:8pt" align=center>(State or other jurisdiction of incorporation)</P>
</TD><TD valign=bottom width=6.133>&nbsp;</TD><TD valign=top width=223.2><P style="margin:0pt; font-family:Times New Roman" align=center><B><U>000-28790</U></B></P>
<P style="margin:0pt; line-height:10pt; font-family:Times New Roman; font-size:8pt" align=center>(Commission File Number)</P>
</TD><TD valign=bottom width=3.333>&nbsp;</TD><TD valign=top width=179.133><P style="margin:0pt; font-family:Times New Roman" align=center><B><U>87-0429962B</U></B></P>
<P style="margin:0pt; line-height:10pt; font-family:Times New Roman; font-size:8pt" align=center>(I.R.S Employer Identification No.)</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B><U>1628 West 1st Avenue, Suite 216, Vancouver, British Columbia, &nbsp;V6J 1G1</U></B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:10pt; font-family:Times New Roman; font-size:8pt" align=center>(Address of principal executive offices)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B><U>(604) 659-5006</U></B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-bottom:3pt; width:540pt; font-family:Times New Roman; border-bottom:3pt solid #000000" align=center>(Registrant&#146;s telephone number, including area code)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><B>ITEM 1. &nbsp;Changes in Control of Registrant</B>.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">None.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><B>ITEM 2. &nbsp;Acquisition or Disposition of Assets</B>.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">None.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><B>ITEM 3. &nbsp;Bankruptcy or Receivership</B>.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">None.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><B>ITEM 4. &nbsp;Changes in Registrant&#146;s Certifying Accountant</B>.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">None.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><B>ITEM 5. &nbsp;Other Events.</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>At a board of directors meeting held on September 22, 2003, the Company&#146;s Board of Directors agreed to enter into 10 year NonStatutory Stock Option Agreements with certain employees and consultants for 4,750,000 stock options out of the 10,000,000 common shares reserved for issuance under the Company&#146;s 2001 Stock Option Plan, which was approved by shareholders on July 12, 2001. </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>The Company entered into agreements with Ranjit Bhogal, Bhupinder Mann and Jeet Sidhu covering 2,250,000, 1,500,000 and 1,000,000 shares, respectively, at an exercise price of $0.24 per share, the closing price of the Company&#146;s shares on September 22, 2003. The options shall become exercisable in two equal installments of fifty percent (50%), with the first installment becoming exercisable immediately and the balance becoming exercisable on September 22, 2004.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>The Company plans to register all shares under its 2001 Stock Option Plan under Form S-8.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Also on September 22, 2003, the Company&#146;s Board of Directors agreed to retain National Infosystems Inc. as its financial and media relations counsel to develop a complete and wide-ranging financial, industry and investor awareness campaigns, as well as a comprehensive website, for an all inclusive fee of $216,000.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>The fee of $216,000 will be paid by the issuance of 900,000 restricted common shares at a price of $0.24 per share, the closing price of the Company&#146;s shares on September 22, 2003, with 450,000 shares to be issued immediately and the balance issued on December 22, 2003.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><B>ITEM 6. &nbsp;Resignations of Registrant&#146;s Director&#146;s</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>On September 22, 2003, Mr. Ray Krauss was replaced as a Director and as the Company&#146;s President and CEO by Mr. Indy S. Panchi, who will serve as a Director and the Company&#146;s new President and CEO until the next shareholders meeting. &nbsp;Also on September 22, 2003, Mr. Harvinder Dhaliwal was replaced as a Director and the Company&#146;s Secretary and Treasurer by Mr. Derek Cooper.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Mr. Indy S. Panchi, received his Bachelor&#146;s degree in Business and Finance from Manchester University in June 1990 and went on to acquire a Post Graduate Diploma in Management Studies at the University of Central England two years later (June, 1992).</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In October 1992, he joined the Executive Agency of the Department of Trade and Industry&#146;s British Insolvency Service. &nbsp;&nbsp;During his tenure, Mr. Panchi worked under the government of Sir John Major, PM as part of a team that pioneered the much-anticipated and highly-successful, Citizens Charter; a program directly credited with improving efficiency in the administration of personal insolvency and corporate recovery.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In February 1998, Mr. Panchi was awarded an Executive Officer position with the British Foreign Office&#146;s, Trade Partners UK (formerly, British Trade International). &nbsp;Among his notable achievements and responsibilities, Mr. Panchi developed and organized numerous high-profile trade missions and duty tours for government Ministers, Officials and foreign investors with South Asian nations on behalf of the British government. &nbsp;Mr. Panchi resigned from his position with Trade Partners UK in May, 2000.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>From June 2000 thru April 2001, Mr. Panchi was self-employed as a business consultant, offering business development and market analysis consulting services to numerous private companies, public corporations and start-up ventures.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In April 2001, Mr. Panchi accepted a position with Kanester Johal, a firm affiliated with Kingston Sorel International, ranked among the world&#146;s top 30 financial consulting firms and top 20 auditors.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Since July 2002, Mr. Indy Panchi has been working for BDO Dunwoody Ltd, the world&#146;s fifth largest multinational accounting, insolvency and consulting organization.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In addition to his corporate responsibilities, Mr. Panchi has dedicated his time to numerous charity institutions, holding key positions with several prominent charities, including Britain&#146;s largest children&#146;s charity, Barnardo&#146;s. &nbsp;Among his volunteer efforts at Barnardo&#146;s, he spearheaded national marketing programs in order to attain prominent media coverage and accomplish significant fundraising success for the organization.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Mr. Derek J. Cooper, the Company&#146;s newly appointed Director, Secretary and Treasurer, earned his Bachelor of Science degree in Physics at the University of British Columbia in May 2001, specializing in solid state and optics.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In September 1996, Mr. Cooper enrolled in the University of British Columbia's Bachelor of Science program.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In April 2000, Mr. Cooper published one of numerous studies and commissioned works, including a report on Acoustical Bylaw Enforcement for the Government of British Columbia's Ministry of Transportation.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In January of 2001, Mr. Cooper successfully helped develop a MoS2 (molybdenum sulphate) thin-film coating application to field effect scanning electron microscopy.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Subsequently, in April 2002, during his tenure at the diversified mining and metals giant Teck-Cominco, Mr. Cooper co-designed and commissioned a hydrometallurgy extraction process for molybdenum.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>In January 2003, Mr. Cooper joined Syncrude Canada Ltd., the world&#146;s largest producer of crude oil from oil sands and the largest single source producer in Canada.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><B>ITEM 7. &nbsp;Financial Statements and Exhibits.</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>The following exhibit is filed herewith:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman" align=justify><B><U>Exhibit Number</U></B></P>
<B><P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:108pt; width:540pt; font-family:Times New Roman" align=justify><U>Description</U></B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman" align=justify>Exhibit 10.1 </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:108pt; width:540pt; font-family:Times New Roman" align=justify>Nonstatutory Stock Option Agreement of Ranjit Bhogal</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman" align=justify>Exhibit 10.2 </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:108pt; width:540pt; font-family:Times New Roman" align=justify>Nonstatutory Stock Option Agreement of Bhupinder Mann</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman" align=justify>Exhibit 10.3 </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:108pt; width:540pt; font-family:Times New Roman" align=justify>Nonstatutory Stock Option Agreement of Jeet Sidhu</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><B>ITEM 8. &nbsp;Change in Fiscal Year</B>.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>None.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><B>ITEM 9. &nbsp;Regulation FD Disclosure </B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>None.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<B><P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:216pt; width:540pt; font-family:Times New Roman">SIGNATURES</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<B><P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:216pt; width:540pt; font-family:Times New Roman"><BR></B></P>
<B><P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:216pt; width:540pt; font-family:Times New Roman">ENTERPRISE TECHNOLOGIES, INC.</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:216pt; width:324pt; font-family:Times New Roman"><U>/s/ Indy S. Panchi</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:216pt; width:540pt; font-family:Times New Roman">Indy S. Panchi</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:216pt; width:540pt; font-family:Times New Roman">President </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:288pt; text-indent:-72pt; width:252pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Date: September 23, 2003</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right><B>EXHIBIT 10.1</B></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B>ENTERPRISE TECHNOLOGIES, INC.</B></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B>NONSTATUTORY STOCK OPTION AGREEMENT</B></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>THIS NONSTATUTORY STOCK OPTION AGREEMENT (&#147;Agreement&#148;) is made and entered into as of the date set forth below, by and between Enterprise Technologies, Inc., a Nevada corporation (the &#147;Company&#148;), and the following employee of the Company (&#147;Optionee&#148;): Ranjit Bhogal</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In consideration of the covenants herein set forth, the parties hereto agree as follows:</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>1. &nbsp;<U>Option Information.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(a) &nbsp;Date of Option:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>September 22, 2003</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(b) &nbsp;Optionee:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>Ranjit Bhogal</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(c) &nbsp;Number of Shares:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>2,250,000</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(d) &nbsp;Exercise Price:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>$0.24</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>2. &nbsp;<U>Acknowledgements.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(a) &nbsp;Optionee is an employee of the Company.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(b) &nbsp;The Board of Directors (the &#147;Board&#148; which term shall include an authorized committee of the Board of Directors) and shareholders of the Company have heretofore adopted a 2001 Incentive Stock Plan (the &#147;Plan&#148;), pursuant to which this Option is being granted; and</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(c) &nbsp;The Board has authorized the granting to Optionee of a nonstatutory stock option (&#147;Option&#148;) to purchase shares of common stock of the Company (&#147;Stock&#148;) upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;) provided by Rule 701 thereunder.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>3. &nbsp;<U>Shares; Price.</U> &nbsp;Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number of shares of Stock set forth in Section 1(c) above (the &#147;Shares&#148;) for cash (or other consideration as is authorized under the Plan and acceptable to the Board of Directors of the Company, in their sole and absolute discretion) at the price per Share set forth in Section 1(d) above (the &#147;Exercise Price&#148;), such price being the closing price of the Shares covered by this Option on September 22, 2003, the date the Board of Directors authorized the grant of this Option. </P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>4. &nbsp;<U>Term of Option; Continuation of Service.</U> &nbsp;This Option shall expire, and all rights hereunder to purchase the Shares shall terminate 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee&#146;s employment if such termination occurs prior to the end of such 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>5. &nbsp;<U>Vesting of Option.</U> &nbsp;Subject to the provisions of Sections 7 and 8 hereof, this Option shall become exercisable during the term of Optionee&#146;s employment in two (2) equal installments of fifty percent (50%) of the Shares covered by this Option, the first installment to be exercisable on the date hereof, with an additional fifty percent (50%) of such Shares becoming exercisable on September 22, 2004. The installments shall be cumulative (i.e., this option may be exercised, as to any or all shares covered by an installment, at any time or times after an installment becomes exercisable and until expiration or termination of this Option).</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>6. &nbsp;<U>Exercise.</U> &nbsp;This Option shall be exercised by delivery to the Company of (a) written notice of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares covered by the notice (or such other consideration as has been approved by the Board of Directors consistent with the Plan) and (c) a written investment representation as provided for in Section 13 hereof. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution, and shall be exercisable only by Optionee during his or her lifetime, except as provided in Section 8 hereof.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>7. &nbsp;<U>Termination of Employment.</U> &nbsp;If Optionee shall cease to be employed by the Company for any reason, whether voluntarily or involuntarily, for cause or without cause, the foregoing right to exercise shall automatically terminate on the date Optionee ceases to be an employee as to all Shares covered by this Option not exercised prior to termination. Unless earlier terminated, all rights under this Option shall terminate in any event on the expiration date of this Option as defined in Section 4 hereof.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>8. &nbsp;<U>Death of Optionee.</U> &nbsp;If the Optionee shall die while in the employ of the Company, Optionee&#146;s personal representative or the person entitled to Optionee&#146;s rights hereunder may at any time within six (6) months after the date of Optionee&#146;s death, or during the remaining term of this Option, whichever is the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised this Option as of the date of Optionee&#146;s death; provided, in any case, that this Option may be so exercised only to the extent that this Option has not previously been exercised by Optionee.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>9. &nbsp;<U>No Rights as Shareholder</U>. &nbsp;Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option until the effective date of issuance of the Shares following exercise of this Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided in Section 10 hereof.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>10. &nbsp;<U>Recapitalization.</U> &nbsp;Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been &#147;effected without receipt of consideration by the Company&#148;.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a &#147;Reorganization&#148;), unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board, which date shall be no later than the consummation of such Reorganization. In such event, if the entity which shall be the surviving entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option a stock option or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide the Optionee with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending immediately prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions of Section 5; provided, however, that such exercise shall be subject to the consummation of such Reorganization.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Subject to any required action by the shareholders of the Company, if the Company shall be the surviving entity in any merger or consolidation, this Option thereafter shall pertain to and apply to the securities to which a holder of Shares equal to the Shares subject to this Option would have been entitled by reason of such merger or consolidation, and the installment provisions of Section 5 shall continue to apply.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In the event of a change in the shares of the Company as presently constituted, which is limited to a change of all of its authorized Stock without par value into the same number of shares of Stock with a par value, the shares resulting from any such change shall be deemed to be the Shares within the meaning of this Option.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>To the extent that the foregoing adjustments relate to shares or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as hereinbefore expressly provided, Optionee shall have no rights by reason of any subdivision or consolidation of shares of Stock of any class or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number and price of Shares subject to this Option shall not be affected by, and no adjustments shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock of any class.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>The grant of this Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve or liquidate or to sell or transfer all or any part of its business or assets.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>11. &nbsp;<U>Taxation upon Exercise of Option.</U> &nbsp;Optionee understands that, upon exercise of this Option, Optionee will recognize income, for Federal and state income tax purposes, in an amount equal to the amount by which the fair market value of the Shares, determined as of the date of exercise, exceeds the Exercise Price. The acceptance of the Shares by Optionee shall constitute an agreement by Optionee to report such income in accordance with then applicable law and to cooperate with Company in establishing the amount of such income and corresponding deduction to the Company for its income tax purposes. Withholding for federal or state income and employment tax purposes will be made, if and as required by law, from Optionee&#146;s then current compensation, or, if such current compensation is insufficient to satisfy withholding tax liability, the Company may require Optionee to make a cash payment to cover such liability as a condition of the exercise of this Option.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>12. &nbsp;<U>Modification, Extension and Renewal of Options.</U> &nbsp;The Board or Committee, as described in the Plan, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Plan, the Code and the corporate securities rules of Nevada. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee, alter to the Optionee&#146;s detriment or impair any rights of Optionee hereunder.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>13. &nbsp;<U>Investment Intent; Restrictions on Transfer.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(a) &nbsp;Optionee represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part, Optionee (or any person or persons entitled to exercise this Option under the provisions of Sections 7 and 8 hereof) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under the Securities Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written statement.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(b) &nbsp;Optionee further represents that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary to verify the accuracy of such information</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(c) &nbsp;Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the following form:</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; padding-right:36pt; width:468pt; font-family:Times New Roman" align=justify>THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE &#145;SECURITIES ACT&#146;) OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; padding-right:36pt; width:468pt; font-family:Times New Roman" align=justify>THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THAT CERTAIN NONSTATUTORY STOCK OPTION AGREEMENT DATED ____________, 2003, BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>and/or such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares have been placed with the Company&#146;s transfer agent.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>14. &nbsp;<U>Stand-off Agreement.</U> &nbsp;Optionee agrees that, in connection with any registration of the Company&#146;s securities under the Securities Act, and upon the request of the Company or any underwriter managing an underwritten offering of the Company&#146;s securities, Optionee shall not sell, short any sale of, loan, grant an option for, or otherwise dispose of any of the Shares (other than Shares included in the offering) without the prior written consent of the Company or such managing underwriter, as applicable, for a period of at least one year following the effective date of registration of such offering.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>15. &nbsp;<U>Restriction Upon Transfer.</U> &nbsp;The Shares may not be sold, transferred or otherwise disposed of and shall not be pledged or otherwise hypothecated by the Optionee.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>16. &nbsp;<U>Notices.</U> &nbsp;Any notice required to be given pursuant to this Option or the Plan shall be in writing and shall be deemed to be delivered upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at the address last provided by Optionee for his or her employee records.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>17. &nbsp;<U>Agreement Subject to Plan; Applicable Law.</U> &nbsp;This Option is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan is available to Optionee, at no charge, at the principal office of the Company. Any provision of this Option inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. This Option has been granted, executed and delivered in the State of Nevada, and the interpretation and enforcement shall be governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>IN WITNESS WHEREOF, the parties hereto have executed this Option as of the date first above written.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman" align=justify>ENTERPRISE TECHNOLOGIES, INC.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman">By: <U>/s/ Ranjit Bhogal</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman">Ranjit Bhogal, Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>(one of the following, as appropriate, shall be signed)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">I certify that as of the date</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">By his or her signature, the</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">hereof I am unmarried</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">spouse of Optionee hereby agrees</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">to be bound by the provisions of</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">the foregoing NONSTATUTORY STOCK</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">OPTION AGREEMENT</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman"><U>/s/ Jatinder Bhogal</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">Spouse of Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Appendix A</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>NOTICE OF EXERCISE</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Enterprise Technologies, Inc.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Suite 216 - 1628 West 1st Avenue</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Vancouver, BC &nbsp;V6J 1G1</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman">Re: Nonstatutory Stock Option</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Notice is hereby given pursuant to Section 6 of my Nonstatutory Stock Option Agreement that I elect to purchase the number of shares set forth below at the exercise price set forth in my option agreement:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Nonstatutory Stock Option Agreement dated: ____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Number of shares being purchased: ____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Exercise Price: $____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>A check in the amount of the aggregate price of the shares being purchased is attached.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I hereby confirm that such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended, or any applicable federal or state securities laws.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I understand that the certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Further, I understand that, as a result of this exercise of rights, I will recognize income in an amount equal to the amount by which the fair market value of the Shares exceeds the exercise price. I agree to report such income in accordance with then applicable law and to cooperate with Company in establishing the withholding and corresponding deduction to the Company for its income tax purposes.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I agree to provide to the Company such additional documents or information as may be required pursuant to the Company&#146;s 2001 Incentive Stock Plan.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right>_____________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:396pt; width:540pt; font-family:Times New Roman">(signature)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right>_____________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:396pt; width:540pt; font-family:Times New Roman">(name of Optionee)</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right><B>EXHIBIT 10.2 </B></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B>ENTERPRISE TECHNOLOGIES, INC.</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B>NONSTATUTORY STOCK OPTION AGREEMENT</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>THIS NONSTATUTORY STOCK OPTION AGREEMENT (&#147;Agreement&#148;) is made and entered into as of the date set forth below, by and between Enterprise Technologies, Inc., a Nevada corporation (the &#147;Company&#148;), and the following employee of the Company (&#147;Optionee&#148;): Bhupinder Mann</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In consideration of the covenants herein set forth, the parties hereto agree as follows:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>1. &nbsp;<U>Option Information.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(a) &nbsp;Date of Option:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>September 22, 2003</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(b) &nbsp;Optionee:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>Bhupinder Mann</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(c) &nbsp;Number of Shares:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>1,500,000</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(d) &nbsp;Exercise Price:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>$0.24</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>2. &nbsp;<U>Acknowledgements.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(a) &nbsp;Optionee is an employee of the Company.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(b) &nbsp;The Board of Directors (the &#147;Board&#148; which term shall include an authorized committee of the Board of Directors) and shareholders of the Company have heretofore adopted a 2001 Incentive Stock Plan (the &#147;Plan&#148;), pursuant to which this Option is being granted; and</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(c) &nbsp;The Board has authorized the granting to Optionee of a nonstatutory stock option (&#147;Option&#148;) to purchase shares of common stock of the Company (&#147;Stock&#148;) upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;) provided by Rule 701 thereunder.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>3. &nbsp;<U>Shares; Price.</U> &nbsp;Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number of shares of Stock set forth in Section 1(c) above (the &#147;Shares&#148;) for cash (or other consideration as is authorized under the Plan and acceptable to the Board of Directors of the Company, in their sole and absolute discretion) at the price per Share set forth in Section 1(d) above (the &#147;Exercise Price&#148;), such price being the closing price of the Shares covered by this Option on September 22, 2003, the date the Board of Directors authorized the grant of this Option. </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>4. &nbsp;<U>Term of Option; Continuation of Service.</U> &nbsp;This Option shall expire, and all rights hereunder to purchase the Shares shall terminate 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee&#146;s employment if such termination occurs prior to the end of such 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>5. &nbsp;<U>Vesting of Option.</U> &nbsp;Subject to the provisions of Sections 7 and 8 hereof, this Option shall become exercisable during the term of Optionee&#146;s employment in two (2) equal installments of fifty percent (50%) of the Shares covered by this Option, the first installment to be exercisable on the date hereof, with an additional fifty percent (50%) of such Shares becoming exercisable on September 22, 2004. The installments shall be cumulative (i.e., this option may be exercised, as to any or all shares covered by an installment, at any time or times after an installment becomes exercisable and until expiration or termination of this Option).</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>6. &nbsp;<U>Exercise.</U> &nbsp;This Option shall be exercised by delivery to the Company of (a) written notice of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares covered by the notice (or such other consideration as has been approved by the Board of Directors consistent with the Plan) and (c) a written investment representation as provided for in Section 13 hereof. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution, and shall be exercisable only by Optionee during his or her lifetime, except as provided in Section 8 hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>7. &nbsp;<U>Termination of Employment.</U> &nbsp;If Optionee shall cease to be employed by the Company for any reason, whether voluntarily or involuntarily, for cause or without cause, the foregoing right to exercise shall automatically terminate on the date Optionee ceases to be an employee as to all Shares covered by this Option not exercised prior to termination. Unless earlier terminated, all rights under this Option shall terminate in any event on the expiration date of this Option as defined in Section 4 hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>8. &nbsp;<U>Death of Optionee.</U> &nbsp;If the Optionee shall die while in the employ of the Company, Optionee&#146;s personal representative or the person entitled to Optionee&#146;s rights hereunder may at any time within six (6) months after the date of Optionee&#146;s death, or during the remaining term of this Option, whichever is the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised this Option as of the date of Optionee&#146;s death; provided, in any case, that this Option may be so exercised only to the extent that this Option has not previously been exercised by Optionee.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>9. &nbsp;<U>No Rights as Shareholder</U>. &nbsp;Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option until the effective date of issuance of the Shares following exercise of this Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided in Section 10 hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>10. &nbsp;<U>Recapitalization.</U> &nbsp;Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been &#147;effected without receipt of consideration by the Company&#148;.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a &#147;Reorganization&#148;), unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board, which date shall be no later than the consummation of such Reorganization. In such event, if the entity which shall be the surviving entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option a stock option or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide the Optionee with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending immediately prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions of Section 5; provided, however, that such exercise shall be subject to the consummation of such Reorganization.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Subject to any required action by the shareholders of the Company, if the Company shall be the surviving entity in any merger or consolidation, this Option thereafter shall pertain to and apply to the securities to which a holder of Shares equal to the Shares subject to this Option would have been entitled by reason of such merger or consolidation, and the installment provisions of Section 5 shall continue to apply.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In the event of a change in the shares of the Company as presently constituted, which is limited to a change of all of its authorized Stock without par value into the same number of shares of Stock with a par value, the shares resulting from any such change shall be deemed to be the Shares within the meaning of this Option.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>To the extent that the foregoing adjustments relate to shares or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as hereinbefore expressly provided, Optionee shall have no rights by reason of any subdivision or consolidation of shares of Stock of any class or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number and price of Shares subject to this Option shall not be affected by, and no adjustments shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock of any class.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>The grant of this Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve or liquidate or to sell or transfer all or any part of its business or assets.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>11. &nbsp;<U>Taxation upon Exercise of Option.</U> &nbsp;Optionee understands that, upon exercise of this Option, Optionee will recognize income, for Federal and state income tax purposes, in an amount equal to the amount by which the fair market value of the Shares, determined as of the date of exercise, exceeds the Exercise Price. The acceptance of the Shares by Optionee shall constitute an agreement by Optionee to report such income in accordance with then applicable law and to cooperate with Company in establishing the amount of such income and corresponding deduction to the Company for its income tax purposes. Withholding for federal or state income and employment tax purposes will be made, if and as required by law, from Optionee&#146;s then current compensation, or, if such current compensation is insufficient to satisfy withholding tax liability, the Company may require Optionee to make a cash payment to cover such liability as a condition of the exercise of this Option.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>12. &nbsp;<U>Modification, Extension and Renewal of Options.</U> &nbsp;The Board or Committee, as described in the Plan, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Plan, the Code and the corporate securities rules of Nevada. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee, alter to the Optionee&#146;s detriment or impair any rights of Optionee hereunder.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>13. &nbsp;<U>Investment Intent; Restrictions on Transfer.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(a) &nbsp;Optionee represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part, Optionee (or any person or persons entitled to exercise this Option under the provisions of Sections 7 and 8 hereof) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under the Securities Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written statement.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(b) &nbsp;Optionee further represents that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary to verify the accuracy of such information</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(c) &nbsp;Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the following form:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; padding-right:36pt; width:468pt; font-family:Times New Roman" align=justify>THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE &#145;SECURITIES ACT&#146;) OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; padding-right:36pt; width:468pt; font-family:Times New Roman" align=justify>THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THAT CERTAIN NONSTATUTORY STOCK OPTION AGREEMENT DATED ____________, 2003, BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>and/or such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares have been placed with the Company&#146;s transfer agent.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>14. &nbsp;<U>Stand-off Agreement.</U> &nbsp;Optionee agrees that, in connection with any registration of the Company&#146;s securities under the Securities Act, and upon the request of the Company or any underwriter managing an underwritten offering of the Company&#146;s securities, Optionee shall not sell, short any sale of, loan, grant an option for, or otherwise dispose of any of the Shares (other than Shares included in the offering) without the prior written consent of the Company or such managing underwriter, as applicable, for a period of at least one year following the effective date of registration of such offering.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>15. &nbsp;<U>Restriction Upon Transfer.</U> &nbsp;The Shares may not be sold, transferred or otherwise disposed of and shall not be pledged or otherwise hypothecated by the Optionee.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>16. &nbsp;<U>Notices.</U> &nbsp;Any notice required to be given pursuant to this Option or the Plan shall be in writing and shall be deemed to be delivered upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at the address last provided by Optionee for his or her employee records.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>17. &nbsp;<U>Agreement Subject to Plan; Applicable Law.</U> &nbsp;This Option is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan is available to Optionee, at no charge, at the principal office of the Company. Any provision of this Option inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. This Option has been granted, executed and delivered in the State of Nevada, and the interpretation and enforcement shall be governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>IN WITNESS WHEREOF, the parties hereto have executed this Option as of the date first above written.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman" align=justify>ENTERPRISE TECHNOLOGIES, INC.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman">By: <U>/s/ Bhupinder Mann</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman">Bhupinder Mann, Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>(one of the following, as appropriate, shall be signed)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">I certify that as of the date</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">By his or her signature, the</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">hereof I am unmarried</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">spouse of Optionee hereby agrees</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">to be bound by the provisions of</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">the foregoing NONSTATUTORY STOCK</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">OPTION AGREEMENT</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman"><U>/s/ Bhupinder Mann</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">________________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">Spouse of Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Appendix A</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>NOTICE OF EXERCISE</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Enterprise Technologies, Inc.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Suite 216 - 1628 West 1st Avenue</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Vancouver, BC &nbsp;V6J 1G1</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman">Re: Nonstatutory Stock Option</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Notice is hereby given pursuant to Section 6 of my Nonstatutory Stock Option Agreement that I elect to purchase the number of shares set forth below at the exercise price set forth in my option agreement:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Nonstatutory Stock Option Agreement dated: ____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Number of shares being purchased: ____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Exercise Price: $____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>A check in the amount of the aggregate price of the shares being purchased is attached.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I hereby confirm that such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended, or any applicable federal or state securities laws.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I understand that the certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Further, I understand that, as a result of this exercise of rights, I will recognize income in an amount equal to the amount by which the fair market value of the Shares exceeds the exercise price. I agree to report such income in accordance with then applicable law and to cooperate with Company in establishing the withholding and corresponding deduction to the Company for its income tax purposes.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I agree to provide to the Company such additional documents or information as may be required pursuant to the Company&#146;s 2001 Incentive Stock Plan.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right>_____________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:396pt; width:540pt; font-family:Times New Roman">(signature)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right>_____________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:396pt; width:540pt; font-family:Times New Roman">(name of Optionee)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:288pt; text-indent:36pt; width:252pt; font-family:Times New Roman"><BR></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right><B>EXHIBIT 10.3</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B>ENTERPRISE TECHNOLOGIES, INC.</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><B>NONSTATUTORY STOCK OPTION AGREEMENT</B></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>THIS NONSTATUTORY STOCK OPTION AGREEMENT (&#147;Agreement&#148;) is made and entered into as of the date set forth below, by and between Enterprise Technologies, Inc., a Nevada corporation (the &#147;Company&#148;), and the following employee of the Company (&#147;Optionee&#148;): Jeet Sidhu</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In consideration of the covenants herein set forth, the parties hereto agree as follows:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>1. &nbsp;<U>Option Information.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(a) &nbsp;Date of Option:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>September 22, 2003</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(b) &nbsp;Optionee:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>Jeet Sidhu</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(c) &nbsp;Number of Shares:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>1,000,000</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(d) &nbsp;Exercise Price:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman" align=justify>$0.24</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>2. &nbsp;<U>Acknowledgements.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:72pt; width:540pt; font-family:Times New Roman" align=justify>(a) &nbsp;Optionee is an employee of the Company.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(b) &nbsp;The Board of Directors (the &#147;Board&#148; which term shall include an authorized committee of the Board of Directors) and shareholders of the Company have heretofore adopted a 2001 Incentive Stock Plan (the &#147;Plan&#148;), pursuant to which this Option is being granted; and</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(c) &nbsp;The Board has authorized the granting to Optionee of a nonstatutory stock option (&#147;Option&#148;) to purchase shares of common stock of the Company (&#147;Stock&#148;) upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;) provided by Rule 701 thereunder.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>3. &nbsp;<U>Shares; Price.</U> &nbsp;Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number of shares of Stock set forth in Section 1(c) above (the &#147;Shares&#148;) for cash (or other consideration as is authorized under the Plan and acceptable to the Board of Directors of the Company, in their sole and absolute discretion) at the price per Share set forth in Section 1(d) above (the &#147;Exercise Price&#148;), such price being the closing price of the Shares covered by this Option on September 22, 2003, the date the Board of Directors authorized the grant of this Option. </P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>4. &nbsp;<U>Term of Option; Continuation of Service.</U> &nbsp;This Option shall expire, and all rights hereunder to purchase the Shares shall terminate 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee&#146;s employment if such termination occurs prior to the end of such 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>5. &nbsp;<U>Vesting of Option.</U> &nbsp;Subject to the provisions of Sections 7 and 8 hereof, this Option shall become exercisable during the term of Optionee&#146;s employment in two (2) equal installments of fifty percent (50%) of the Shares covered by this Option, the first installment to be exercisable on the date hereof, with an additional fifty percent (50%) of such Shares becoming exercisable on September 22, 2004. The installments shall be cumulative (i.e., this option may be exercised, as to any or all shares covered by an installment, at any time or times after an installment becomes exercisable and until expiration or termination of this Option).</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>6. &nbsp;<U>Exercise.</U> &nbsp;This Option shall be exercised by delivery to the Company of (a) written notice of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares covered by the notice (or such other consideration as has been approved by the Board of Directors consistent with the Plan) and (c) a written investment representation as provided for in Section 13 hereof. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution, and shall be exercisable only by Optionee during his or her lifetime, except as provided in Section 8 hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>7. &nbsp;<U>Termination of Employment.</U> &nbsp;If Optionee shall cease to be employed by the Company for any reason, whether voluntarily or involuntarily, for cause or without cause, the foregoing right to exercise shall automatically terminate on the date Optionee ceases to be an employee as to all Shares covered by this Option not exercised prior to termination. Unless earlier terminated, all rights under this Option shall terminate in any event on the expiration date of this Option as defined in Section 4 hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>8. &nbsp;<U>Death of Optionee.</U> &nbsp;If the Optionee shall die while in the employ of the Company, Optionee&#146;s personal representative or the person entitled to Optionee&#146;s rights hereunder may at any time within six (6) months after the date of Optionee&#146;s death, or during the remaining term of this Option, whichever is the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised this Option as of the date of Optionee&#146;s death; provided, in any case, that this Option may be so exercised only to the extent that this Option has not previously been exercised by Optionee.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>9. &nbsp;<U>No Rights as Shareholder</U>. &nbsp;Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option until the effective date of issuance of the Shares following exercise of this Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided in Section 10 hereof.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>10. &nbsp;<U>Recapitalization.</U> &nbsp;Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been &#147;effected without receipt of consideration by the Company&#148;.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a &#147;Reorganization&#148;), unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board, which date shall be no later than the consummation of such Reorganization. In such event, if the entity which shall be the surviving entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option a stock option or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide the Optionee with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending immediately prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions of Section 5; provided, however, that such exercise shall be subject to the consummation of such Reorganization.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Subject to any required action by the shareholders of the Company, if the Company shall be the surviving entity in any merger or consolidation, this Option thereafter shall pertain to and apply to the securities to which a holder of Shares equal to the Shares subject to this Option would have been entitled by reason of such merger or consolidation, and the installment provisions of Section 5 shall continue to apply.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>In the event of a change in the shares of the Company as presently constituted, which is limited to a change of all of its authorized Stock without par value into the same number of shares of Stock with a par value, the shares resulting from any such change shall be deemed to be the Shares within the meaning of this Option.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>To the extent that the foregoing adjustments relate to shares or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as hereinbefore expressly provided, Optionee shall have no rights by reason of any subdivision or consolidation of shares of Stock of any class or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number and price of Shares subject to this Option shall not be affected by, and no adjustments shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock of any class.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>The grant of this Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve or liquidate or to sell or transfer all or any part of its business or assets.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>11. &nbsp;<U>Taxation upon Exercise of Option.</U> &nbsp;Optionee understands that, upon exercise of this Option, Optionee will recognize income, for Federal and state income tax purposes, in an amount equal to the amount by which the fair market value of the Shares, determined as of the date of exercise, exceeds the Exercise Price. The acceptance of the Shares by Optionee shall constitute an agreement by Optionee to report such income in accordance with then applicable law and to cooperate with Company in establishing the amount of such income and corresponding deduction to the Company for its income tax purposes. Withholding for federal or state income and employment tax purposes will be made, if and as required by law, from Optionee&#146;s then current compensation, or, if such current compensation is insufficient to satisfy withholding tax liability, the Company may require Optionee to make a cash payment to cover such liability as a condition of the exercise of this Option.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>12. &nbsp;<U>Modification, Extension and Renewal of Options.</U> &nbsp;The Board or Committee, as described in the Plan, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Plan, the Code and the corporate securities rules of Nevada. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee, alter to the Optionee&#146;s detriment or impair any rights of Optionee hereunder.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>13. &nbsp;<U>Investment Intent; Restrictions on Transfer.</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(a) &nbsp;Optionee represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part, Optionee (or any person or persons entitled to exercise this Option under the provisions of Sections 7 and 8 hereof) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under the Securities Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written statement.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(b) &nbsp;Optionee further represents that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary to verify the accuracy of such information</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; text-indent:36pt; width:504pt; font-family:Times New Roman" align=justify>(c) &nbsp;Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the following form:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; padding-right:36pt; width:468pt; font-family:Times New Roman" align=justify>THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE &#145;SECURITIES ACT&#146;) OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; padding-right:36pt; width:468pt; font-family:Times New Roman" align=justify>THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THAT CERTAIN NONSTATUTORY STOCK OPTION AGREEMENT DATED ____________, 2003, BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>and/or such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares have been placed with the Company&#146;s transfer agent.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>14. &nbsp;<U>Stand-off Agreement.</U> &nbsp;Optionee agrees that, in connection with any registration of the Company&#146;s securities under the Securities Act, and upon the request of the Company or any underwriter managing an underwritten offering of the Company&#146;s securities, Optionee shall not sell, short any sale of, loan, grant an option for, or otherwise dispose of any of the Shares (other than Shares included in the offering) without the prior written consent of the Company or such managing underwriter, as applicable, for a period of at least one year following the effective date of registration of such offering.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>15. &nbsp;<U>Restriction Upon Transfer.</U> &nbsp;The Shares may not be sold, transferred or otherwise disposed of and shall not be pledged or otherwise hypothecated by the Optionee.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>16. &nbsp;<U>Notices.</U> &nbsp;Any notice required to be given pursuant to this Option or the Plan shall be in writing and shall be deemed to be delivered upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at the address last provided by Optionee for his or her employee records.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; padding-left:36pt; width:504pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>17. &nbsp;<U>Agreement Subject to Plan; Applicable Law.</U> &nbsp;This Option is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan is available to Optionee, at no charge, at the principal office of the Company. Any provision of this Option inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. This Option has been granted, executed and delivered in the State of Nevada, and the interpretation and enforcement shall be governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>IN WITNESS WHEREOF, the parties hereto have executed this Option as of the date first above written.</P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman" align=justify>ENTERPRISE TECHNOLOGIES, INC.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman">By: <U>/s/ Jeet Sidhu</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:252pt; width:540pt; font-family:Times New Roman">Jeet Sidhu, Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>(one of the following, as appropriate, shall be signed)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">I certify that as of the date</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">By his or her signature, the</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">hereof I am unmarried</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">spouse of Optionee hereby agrees</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">to be bound by the provisions of</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">the foregoing NONSTATUTORY STOCK</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">OPTION AGREEMENT</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman"><U>/s/ Jasvir Sidhu</U></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:180pt; width:540pt; font-family:Times New Roman">Spouse of Optionee</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
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<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Appendix A</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center>NOTICE OF EXERCISE</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Enterprise Technologies, Inc.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Suite 216 - 1628 West 1st Avenue</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman">Vancouver, BC &nbsp;V6J 1G1</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman">Re: Nonstatutory Stock Option</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Notice is hereby given pursuant to Section 6 of my Nonstatutory Stock Option Agreement that I elect to purchase the number of shares set forth below at the exercise price set forth in my option agreement:</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Nonstatutory Stock Option Agreement dated: ____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Number of shares being purchased: ____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify>Exercise Price: $____________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>A check in the amount of the aggregate price of the shares being purchased is attached.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I hereby confirm that such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended, or any applicable federal or state securities laws.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I understand that the certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>Further, I understand that, as a result of this exercise of rights, I will recognize income in an amount equal to the amount by which the fair market value of the Shares exceeds the exercise price. I agree to report such income in accordance with then applicable law and to cooperate with Company in establishing the withholding and corresponding deduction to the Company for its income tax purposes.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:36pt; width:540pt; font-family:Times New Roman" align=justify>I agree to provide to the Company such additional documents or information as may be required pursuant to the Company&#146;s 2001 Incentive Stock Plan.</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right>_____________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:396pt; width:540pt; font-family:Times New Roman">(signature)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=right>_____________________________</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:-12pt; width:540pt; font-family:Times New Roman">&nbsp;</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; text-indent:396pt; width:540pt; font-family:Times New Roman">(name of Optionee)</P>
<P style="margin-top:0pt; margin-right:72pt; margin-bottom:0pt; width:540pt; font-family:Times New Roman" align=center><BR></P>
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<B>SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
September 23, 2003
Date of Report (Date of earliest event reported)
ENTERPRISE TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
000-28790
(Commission File Number)
87-0429962B
(I.R.S Employer Identification No.)
1628 West 1st Avenue, Suite 216, Vancouver, British Columbia,  V6J 1G1
(Address of principal executive offices)
(604) 659-5006
(Registrant's telephone number, including area code)
ITEM 1.  Changes in Control of Registrant
.
None.
ITEM 2.  Acquisition or Disposition of Assets
.
None.
ITEM 3.  Bankruptcy or Receivership
.
None.
ITEM 4.  Changes in Registrant's Certifying Accountant
.
None.
ITEM 5.  Other Events.
At a board of directors meeting held on September 22, 2003, the Company's Board of Directors agreed to enter into 10 year NonStatutory Stock Option Agreements with certain employees and consultants for 4,750,000 stock options out of the 10,000,000 common shares reserved for issuance under the Company's 2001 Stock Option Plan, which was approved by shareholders on July 12, 2001.
The Company entered into agreements with Ranjit Bhogal, Bhupinder Mann and Jeet Sidhu covering 2,250,000, 1,500,000 and 1,000,000 shares, respectively, at an exercise price of $0.24 per share, the closing price of the Company's shares on September 22, 2003. The options shall become exercisable in two equal installments of fifty percent (50%), with the first installment becoming exercisable immediately and the balance becoming exercisable on September 22, 2004.
The Company plans to register all shares under its 2001 Stock Option Plan under Form S-8.
Also on September 22, 2003, the Company's Board of Directors agreed to retain National Infosystems Inc. as its financial and media relations counsel to develop a complete and wide-ranging financial, industry and investor awareness campaigns, as well as a comprehensive website, for an all inclusive fee of $216,000.
The fee of $216,000 will be paid by the issuance of 900,000 restricted common shares at a price of $0.24 per share, the closing price of the Company's shares on September 22, 2003, with 450,000 shares to be issued immediately and the balance issued on December 22, 2003.
ITEM 6.  Resignations of Registrant's Director's
On September 22, 2003, Mr. Ray Krauss was replaced as a Director and as the Company's President and CEO by Mr. Indy S. Panchi, who will serve as a Director and the Company's new President and CEO until the next shareholders meeting.  Also on September 22, 2003, Mr. Harvinder Dhaliwal was replaced as a Director and the Company's Secretary and Treasurer by Mr. Derek Cooper.
Mr. Indy S. Panchi, received his Bachelor's degree in Business and Finance from Manchester University in June 1990 and went on to acquire a Post Graduate Diploma in Management Studies at the University of Central England two years later (June, 1992).
In October 1992, he joined the Executive Agency of the Department of Trade and Industry's British Insolvency Service.   During his tenure, Mr. Panchi worked under the government of Sir John Major, PM as part of a team that pioneered the much-anticipated and highly-successful, Citizens Charter; a program directly credited with improving efficiency in the administration of personal insolvency and corporate recovery.
In February 1998, Mr. Panchi was awarded an Executive Officer position with the British Foreign Office's, Trade Partners UK (formerly, British Trade International).  Among his notable achievements and responsibilities, Mr. Panchi developed and organized numerous high-profile trade missions and duty tours for government Ministers, Officials and foreign investors with South Asian nations on behalf of the British government.  Mr. Panchi resigned from his position with Trade Partners UK in May, 2000.
From June 2000 thru April 2001, Mr. Panchi was self-employed as a business consultant, offering business development and market analysis consulting services to numerous private companies, public corporations and start-up ventures.
In April 2001, Mr. Panchi accepted a position with Kanester Johal, a firm affiliated with Kingston Sorel International, ranked among the world's top 30 financial consulting firms and top 20 auditors.
Since July 2002, Mr. Indy Panchi has been working for BDO Dunwoody Ltd, the world's fifth largest multinational accounting, insolvency and consulting organization.
In addition to his corporate responsibilities, Mr. Panchi has dedicated his time to numerous charity institutions, holding key positions with several prominent charities, including Britain's largest children's charity, Barnardo's.  Among his volunteer efforts at Barnardo's, he spearheaded national marketing programs in order to attain prominent media coverage and accomplish significant fundraising success for the organization.
Mr. Derek J. Cooper, the Company's newly appointed Director, Secretary and Treasurer, earned his Bachelor of Science degree in Physics at the University of British Columbia in May 2001, specializing in solid state and optics.
In September 1996, Mr. Cooper enrolled in the University of British Columbia's Bachelor of Science program.
In April 2000, Mr. Cooper published one of numerous studies and commissioned works, including a report on Acoustical Bylaw Enforcement for the Government of British Columbia's Ministry of Transportation.
In January of 2001, Mr. Cooper successfully helped develop a MoS2 (molybdenum sulphate) thin-film coating application to field effect scanning electron microscopy.
Subsequently, in April 2002, during his tenure at the diversified mining and metals giant Teck-Cominco, Mr. Cooper co-designed and commissioned a hydrometallurgy extraction process for molybdenum.
In January 2003, Mr. Cooper joined Syncrude Canada Ltd., the world's largest producer of crude oil from oil sands and the largest single source producer in Canada.
ITEM 7.  Financial Statements and Exhibits.
The following exhibit is filed herewith:
Exhibit Number
Description
Exhibit 10.1
Nonstatutory Stock Option Agreement of Ranjit Bhogal
Exhibit 10.2
Nonstatutory Stock Option Agreement of Bhupinder Mann
Exhibit 10.3
Nonstatutory Stock Option Agreement of Jeet Sidhu
ITEM 8.  Change in Fiscal Year
.
None.
ITEM 9.  Regulation FD Disclosure
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ENTERPRISE TECHNOLOGIES, INC.
/s/ Indy S. Panchi
Indy S. Panchi
President
Date: September 23, 2003
EXHIBIT 10.1
ENTERPRISE TECHNOLOGIES, INC.
NONSTATUTORY STOCK OPTION AGREEMENT
THIS NONSTATUTORY STOCK OPTION AGREEMENT ("Agreement") is made and entered into as of the date set forth below, by and between Enterprise Technologies, Inc., a Nevada corporation (the "Company"), and the following employee of the Company ("Optionee"): Ranjit Bhogal
In consideration of the covenants herein set forth, the parties hereto agree as follows:
1.
Option Information.
(a)  Date of Option:
September 22, 2003
(b)  Optionee:
Ranjit Bhogal
(c)  Number of Shares:
2,250,000
(d)  Exercise Price:
$0.24
2.
Acknowledgements.
(a)  Optionee is an employee of the Company.
(b)  The Board of Directors (the "Board" which term shall include an authorized committee of the Board of Directors) and shareholders of the Company have heretofore adopted a 2001 Incentive Stock Plan (the "Plan"), pursuant to which this Option is being granted; and
(c)  The Board has authorized the granting to Optionee of a nonstatutory stock option ("Option") to purchase shares of common stock of the Company ("Stock") upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act") provided by Rule 701 thereunder.
3.
Shares; Price.
Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number of shares of Stock set forth in Section 1(c) above (the "Shares") for cash (or other consideration as is authorized under the Plan and acceptable to the Board of Directors of the Company, in their sole and absolute discretion) at the price per Share set forth in Section 1(d) above (the "Exercise Price"), such price being the closing price of the Shares covered by this Option on September 22, 2003, the date the Board of Directors authorized the grant of this Option.
4.
Term of Option; Continuation of Service.
This Option shall expire, and all rights hereunder to purchase the Shares shall terminate 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.
5.
Vesting of Option.
Subject to the provisions of Sections 7 and 8 hereof, this Option shall become exercisable during the term of Optionee's employment in two (2) equal installments of fifty percent (50%) of the Shares covered by this Option, the first installment to be exercisable on the date hereof, with an additional fifty percent (50%) of such Shares becoming exercisable on September 22, 2004. The installments shall be cumulative (i.e., this option may be exercised, as to any or all shares covered by an installment, at any time or times after an installment becomes exercisable and until expiration or termination of this Option).
6.
Exercise.
This Option shall be exercised by delivery to the Company of (a) written notice of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares covered by the notice (or such other consideration as has been approved by the Board of Directors consistent with the Plan) and (c) a written investment representation as provided for in Section 13 hereof. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution, and shall be exercisable only by Optionee during his or her lifetime, except as provided in Section 8 hereof.
7.
Termination of Employment.
If Optionee shall cease to be employed by the Company for any reason, whether voluntarily or involuntarily, for cause or without cause, the foregoing right to exercise shall automatically terminate on the date Optionee ceases to be an employee as to all Shares covered by this Option not exercised prior to termination. Unless earlier terminated, all rights under this Option shall terminate in any event on the expiration date of this Option as defined in Section 4 hereof.
8.
Death of Optionee.
If the Optionee shall die while in the employ of the Company, Optionee's personal representative or the person entitled to Optionee's rights hereunder may at any time within six (6) months after the date of Optionee's death, or during the remaining term of this Option, whichever is the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised this Option as of the date of Optionee's death; provided, in any case, that this Option may be so exercised only to the extent that this Option has not previously been exercised by Optionee.
9.
No Rights as Shareholder
.  Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option until the effective date of issuance of the Shares following exercise of this Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided in Section 10 hereof.
10.
Recapitalization.
Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been "effected without receipt of consideration by the Company".
In the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a "Reorganization"), unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board, which date shall be no later than the consummation of such Reorganization. In such event, if the entity which shall be the surviving entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option a stock option or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide the Optionee with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending immediately prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions of Section 5; provided, however, that such exercise shall be subject to the consummation of such Reorganization.
Subject to any required action by the shareholders of the Company, if the Company shall be the surviving entity in any merger or consolidation, this Option thereafter shall pertain to and apply to the securities to which a holder of Shares equal to the Shares subject to this Option would have been entitled by reason of such merger or consolidation, and the installment provisions of Section 5 shall continue to apply.
In the event of a change in the shares of the Company as presently constituted, which is limited to a change of all of its authorized Stock without par value into the same number of shares of Stock with a par value, the shares resulting from any such change shall be deemed to be the Shares within the meaning of this Option.
To the extent that the foregoing adjustments relate to shares or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as hereinbefore expressly provided, Optionee shall have no rights by reason of any subdivision or consolidation of shares of Stock of any class or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number and price of Shares subject to this Option shall not be affected by, and no adjustments shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock of any class.
The grant of this Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve or liquidate or to sell or transfer all or any part of its business or assets.
11.
Taxation upon Exercise of Option.
Optionee understands that, upon exercise of this Option, Optionee will recognize income, for Federal and state income tax purposes, in an amount equal to the amount by which the fair market value of the Shares, determined as of the date of exercise, exceeds the Exercise Price. The acceptance of the Shares by Optionee shall constitute an agreement by Optionee to report such income in accordance with then applicable law and to cooperate with Company in establishing the amount of such income and corresponding deduction to the Company for its income tax purposes. Withholding for federal or state income and employment tax purposes will be made, if and as required by law, from Optionee's then current compensation, or, if such current compensation is insufficient to satisfy withholding tax liability, the Company may require Optionee to make a cash payment to cover such liability as a condition of the exercise of this Option.
12.
Modification, Extension and Renewal of Options.
The Board or Committee, as described in the Plan, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Plan, the Code and the corporate securities rules of Nevada. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee, alter to the Optionee's detriment or impair any rights of Optionee hereunder.
13.
Investment Intent; Restrictions on Transfer.
(a)  Optionee represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part, Optionee (or any person or persons entitled to exercise this Option under the provisions of Sections 7 and 8 hereof) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under the Securities Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written statement.
(b)  Optionee further represents that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary to verify the accuracy of such information
(c)  Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the following form:
THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE 'SECURITIES ACT') OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.
THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THAT CERTAIN NONSTATUTORY STOCK OPTION AGREEMENT DATED ____________, 2003, BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.
and/or such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares have been placed with the Company's transfer agent.
14.
Stand-off Agreement.
Optionee agrees that, in connection with any registration of the Company's securities under the Securities Act, and upon the request of the Company or any underwriter managing an underwritten offering of the Company's securities, Optionee shall not sell, short any sale of, loan, grant an option for, or otherwise dispose of any of the Shares (other than Shares included in the offering) without the prior written consent of the Company or such managing underwriter, as applicable, for a period of at least one year following the effective date of registration of such offering.
15.
Restriction Upon Transfer.
The Shares may not be sold, transferred or otherwise disposed of and shall not be pledged or otherwise hypothecated by the Optionee.
16.
Notices.
Any notice required to be given pursuant to this Option or the Plan shall be in writing and shall be deemed to be delivered upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at the address last provided by Optionee for his or her employee records.
17.
Agreement Subject to Plan; Applicable Law.
This Option is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan is available to Optionee, at no charge, at the principal office of the Company. Any provision of this Option inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. This Option has been granted, executed and delivered in the State of Nevada, and the interpretation and enforcement shall be governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.
IN WITNESS WHEREOF, the parties hereto have executed this Option as of the date first above written.
ENTERPRISE TECHNOLOGIES, INC.
By:
/s/ Ranjit Bhogal
Ranjit Bhogal, Optionee
(one of the following, as appropriate, shall be signed)
I certify that as of the date
By his or her signature, the
hereof I am unmarried
spouse of Optionee hereby agrees
to be bound by the provisions of
the foregoing NONSTATUTORY STOCK
OPTION AGREEMENT
________________________
/s/ Jatinder Bhogal
Optionee
Spouse of Optionee
Appendix A
NOTICE OF EXERCISE
Enterprise Technologies, Inc.
Suite 216 - 1628 West 1st Avenue
Vancouver, BC  V6J 1G1
Re: Nonstatutory Stock Option
Notice is hereby given pursuant to Section 6 of my Nonstatutory Stock Option Agreement that I elect to purchase the number of shares set forth below at the exercise price set forth in my option agreement:
Nonstatutory Stock Option Agreement dated: ____________
Number of shares being purchased: ____________
Exercise Price: $____________
A check in the amount of the aggregate price of the shares being purchased is attached.
I hereby confirm that such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended, or any applicable federal or state securities laws.
I understand that the certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.
Further, I understand that, as a result of this exercise of rights, I will recognize income in an amount equal to the amount by which the fair market value of the Shares exceeds the exercise price. I agree to report such income in accordance with then applicable law and to cooperate with Company in establishing the withholding and corresponding deduction to the Company for its income tax purposes.
I agree to provide to the Company such additional documents or information as may be required pursuant to the Company's 2001 Incentive Stock Plan.
_____________________________
(signature)
_____________________________
(name of Optionee)
EXHIBIT 10.2
ENTERPRISE TECHNOLOGIES, INC.
NONSTATUTORY STOCK OPTION AGREEMENT
THIS NONSTATUTORY STOCK OPTION AGREEMENT ("Agreement") is made and entered into as of the date set forth below, by and between Enterprise Technologies, Inc., a Nevada corporation (the "Company"), and the following employee of the Company ("Optionee"): Bhupinder Mann
In consideration of the covenants herein set forth, the parties hereto agree as follows:
1.
Option Information.
(a)  Date of Option:
September 22, 2003
(b)  Optionee:
Bhupinder Mann
(c)  Number of Shares:
1,500,000
(d)  Exercise Price:
$0.24
2.
Acknowledgements.
(a)  Optionee is an employee of the Company.
(b)  The Board of Directors (the "Board" which term shall include an authorized committee of the Board of Directors) and shareholders of the Company have heretofore adopted a 2001 Incentive Stock Plan (the "Plan"), pursuant to which this Option is being granted; and
(c)  The Board has authorized the granting to Optionee of a nonstatutory stock option ("Option") to purchase shares of common stock of the Company ("Stock") upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act") provided by Rule 701 thereunder.
3.
Shares; Price.
Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number of shares of Stock set forth in Section 1(c) above (the "Shares") for cash (or other consideration as is authorized under the Plan and acceptable to the Board of Directors of the Company, in their sole and absolute discretion) at the price per Share set forth in Section 1(d) above (the "Exercise Price"), such price being the closing price of the Shares covered by this Option on September 22, 2003, the date the Board of Directors authorized the grant of this Option.
4.
Term of Option; Continuation of Service.
This Option shall expire, and all rights hereunder to purchase the Shares shall terminate 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.
5.
Vesting of Option.
Subject to the provisions of Sections 7 and 8 hereof, this Option shall become exercisable during the term of Optionee's employment in two (2) equal installments of fifty percent (50%) of the Shares covered by this Option, the first installment to be exercisable on the date hereof, with an additional fifty percent (50%) of such Shares becoming exercisable on September 22, 2004. The installments shall be cumulative (i.e., this option may be exercised, as to any or all shares covered by an installment, at any time or times after an installment becomes exercisable and until expiration or termination of this Option).
6.
Exercise.
This Option shall be exercised by delivery to the Company of (a) written notice of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares covered by the notice (or such other consideration as has been approved by the Board of Directors consistent with the Plan) and (c) a written investment representation as provided for in Section 13 hereof. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution, and shall be exercisable only by Optionee during his or her lifetime, except as provided in Section 8 hereof.
7.
Termination of Employment.
If Optionee shall cease to be employed by the Company for any reason, whether voluntarily or involuntarily, for cause or without cause, the foregoing right to exercise shall automatically terminate on the date Optionee ceases to be an employee as to all Shares covered by this Option not exercised prior to termination. Unless earlier terminated, all rights under this Option shall terminate in any event on the expiration date of this Option as defined in Section 4 hereof.
8.
Death of Optionee.
If the Optionee shall die while in the employ of the Company, Optionee's personal representative or the person entitled to Optionee's rights hereunder may at any time within six (6) months after the date of Optionee's death, or during the remaining term of this Option, whichever is the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised this Option as of the date of Optionee's death; provided, in any case, that this Option may be so exercised only to the extent that this Option has not previously been exercised by Optionee.
9.
No Rights as Shareholder
.  Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option until the effective date of issuance of the Shares following exercise of this Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided in Section 10 hereof.
10.
Recapitalization.
Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been "effected without receipt of consideration by the Company".
In the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a "Reorganization"), unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board, which date shall be no later than the consummation of such Reorganization. In such event, if the entity which shall be the surviving entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option a stock option or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide the Optionee with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending immediately prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions of Section 5; provided, however, that such exercise shall be subject to the consummation of such Reorganization.
Subject to any required action by the shareholders of the Company, if the Company shall be the surviving entity in any merger or consolidation, this Option thereafter shall pertain to and apply to the securities to which a holder of Shares equal to the Shares subject to this Option would have been entitled by reason of such merger or consolidation, and the installment provisions of Section 5 shall continue to apply.
In the event of a change in the shares of the Company as presently constituted, which is limited to a change of all of its authorized Stock without par value into the same number of shares of Stock with a par value, the shares resulting from any such change shall be deemed to be the Shares within the meaning of this Option.
To the extent that the foregoing adjustments relate to shares or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as hereinbefore expressly provided, Optionee shall have no rights by reason of any subdivision or consolidation of shares of Stock of any class or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number and price of Shares subject to this Option shall not be affected by, and no adjustments shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock of any class.
The grant of this Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve or liquidate or to sell or transfer all or any part of its business or assets.
11.
Taxation upon Exercise of Option.
Optionee understands that, upon exercise of this Option, Optionee will recognize income, for Federal and state income tax purposes, in an amount equal to the amount by which the fair market value of the Shares, determined as of the date of exercise, exceeds the Exercise Price. The acceptance of the Shares by Optionee shall constitute an agreement by Optionee to report such income in accordance with then applicable law and to cooperate with Company in establishing the amount of such income and corresponding deduction to the Company for its income tax purposes. Withholding for federal or state income and employment tax purposes will be made, if and as required by law, from Optionee's then current compensation, or, if such current compensation is insufficient to satisfy withholding tax liability, the Company may require Optionee to make a cash payment to cover such liability as a condition of the exercise of this Option.
12.
Modification, Extension and Renewal of Options.
The Board or Committee, as described in the Plan, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Plan, the Code and the corporate securities rules of Nevada. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee, alter to the Optionee's detriment or impair any rights of Optionee hereunder.
13.
Investment Intent; Restrictions on Transfer.
(a)  Optionee represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part, Optionee (or any person or persons entitled to exercise this Option under the provisions of Sections 7 and 8 hereof) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under the Securities Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written statement.
(b)  Optionee further represents that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary to verify the accuracy of such information
(c)  Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the following form:
THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE 'SECURITIES ACT') OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.
THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THAT CERTAIN NONSTATUTORY STOCK OPTION AGREEMENT DATED ____________, 2003, BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.
and/or such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares have been placed with the Company's transfer agent.
14.
Stand-off Agreement.
Optionee agrees that, in connection with any registration of the Company's securities under the Securities Act, and upon the request of the Company or any underwriter managing an underwritten offering of the Company's securities, Optionee shall not sell, short any sale of, loan, grant an option for, or otherwise dispose of any of the Shares (other than Shares included in the offering) without the prior written consent of the Company or such managing underwriter, as applicable, for a period of at least one year following the effective date of registration of such offering.
15.
Restriction Upon Transfer.
The Shares may not be sold, transferred or otherwise disposed of and shall not be pledged or otherwise hypothecated by the Optionee.
16.
Notices.
Any notice required to be given pursuant to this Option or the Plan shall be in writing and shall be deemed to be delivered upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at the address last provided by Optionee for his or her employee records.
17.
Agreement Subject to Plan; Applicable Law.
This Option is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan is available to Optionee, at no charge, at the principal office of the Company. Any provision of this Option inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. This Option has been granted, executed and delivered in the State of Nevada, and the interpretation and enforcement shall be governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.
IN WITNESS WHEREOF, the parties hereto have executed this Option as of the date first above written.
ENTERPRISE TECHNOLOGIES, INC.
By:
/s/ Bhupinder Mann
Bhupinder Mann, Optionee
(one of the following, as appropriate, shall be signed)
I certify that as of the date
By his or her signature, the
hereof I am unmarried
spouse of Optionee hereby agrees
to be bound by the provisions of
the foregoing NONSTATUTORY STOCK
OPTION AGREEMENT
/s/ Bhupinder Mann
________________________________
Optionee
Spouse of Optionee
Appendix A
NOTICE OF EXERCISE
Enterprise Technologies, Inc.
Suite 216 - 1628 West 1st Avenue
Vancouver, BC  V6J 1G1
Re: Nonstatutory Stock Option
Notice is hereby given pursuant to Section 6 of my Nonstatutory Stock Option Agreement that I elect to purchase the number of shares set forth below at the exercise price set forth in my option agreement:
Nonstatutory Stock Option Agreement dated: ____________
Number of shares being purchased: ____________
Exercise Price: $____________
A check in the amount of the aggregate price of the shares being purchased is attached.
I hereby confirm that such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended, or any applicable federal or state securities laws.
I understand that the certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.
Further, I understand that, as a result of this exercise of rights, I will recognize income in an amount equal to the amount by which the fair market value of the Shares exceeds the exercise price. I agree to report such income in accordance with then applicable law and to cooperate with Company in establishing the withholding and corresponding deduction to the Company for its income tax purposes.
I agree to provide to the Company such additional documents or information as may be required pursuant to the Company's 2001 Incentive Stock Plan.
_____________________________
(signature)
_____________________________
(name of Optionee)
EXHIBIT 10.3
ENTERPRISE TECHNOLOGIES, INC.
NONSTATUTORY STOCK OPTION AGREEMENT
THIS NONSTATUTORY STOCK OPTION AGREEMENT ("Agreement") is made and entered into as of the date set forth below, by and between Enterprise Technologies, Inc., a Nevada corporation (the "Company"), and the following employee of the Company ("Optionee"): Jeet Sidhu
In consideration of the covenants herein set forth, the parties hereto agree as follows:
1.
Option Information.
(a)  Date of Option:
September 22, 2003
(b)  Optionee:
Jeet Sidhu
(c)  Number of Shares:
1,000,000
(d)  Exercise Price:
$0.24
2.
Acknowledgements.
(a)  Optionee is an employee of the Company.
(b)  The Board of Directors (the "Board" which term shall include an authorized committee of the Board of Directors) and shareholders of the Company have heretofore adopted a 2001 Incentive Stock Plan (the "Plan"), pursuant to which this Option is being granted; and
(c)  The Board has authorized the granting to Optionee of a nonstatutory stock option ("Option") to purchase shares of common stock of the Company ("Stock") upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act") provided by Rule 701 thereunder.
3.
Shares; Price.
Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number of shares of Stock set forth in Section 1(c) above (the "Shares") for cash (or other consideration as is authorized under the Plan and acceptable to the Board of Directors of the Company, in their sole and absolute discretion) at the price per Share set forth in Section 1(d) above (the "Exercise Price"), such price being the closing price of the Shares covered by this Option on September 22, 2003, the date the Board of Directors authorized the grant of this Option.
4.
Term of Option; Continuation of Service.
This Option shall expire, and all rights hereunder to purchase the Shares shall terminate 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.
5.
Vesting of Option.
Subject to the provisions of Sections 7 and 8 hereof, this Option shall become exercisable during the term of Optionee's employment in two (2) equal installments of fifty percent (50%) of the Shares covered by this Option, the first installment to be exercisable on the date hereof, with an additional fifty percent (50%) of such Shares becoming exercisable on September 22, 2004. The installments shall be cumulative (i.e., this option may be exercised, as to any or all shares covered by an installment, at any time or times after an installment becomes exercisable and until expiration or termination of this Option).
6.
Exercise.
This Option shall be exercised by delivery to the Company of (a) written notice of exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares covered by the notice (or such other consideration as has been approved by the Board of Directors consistent with the Plan) and (c) a written investment representation as provided for in Section 13 hereof. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution, and shall be exercisable only by Optionee during his or her lifetime, except as provided in Section 8 hereof.
7.
Termination of Employment.
If Optionee shall cease to be employed by the Company for any reason, whether voluntarily or involuntarily, for cause or without cause, the foregoing right to exercise shall automatically terminate on the date Optionee ceases to be an employee as to all Shares covered by this Option not exercised prior to termination. Unless earlier terminated, all rights under this Option shall terminate in any event on the expiration date of this Option as defined in Section 4 hereof.
8.
Death of Optionee.
If the Optionee shall die while in the employ of the Company, Optionee's personal representative or the person entitled to Optionee's rights hereunder may at any time within six (6) months after the date of Optionee's death, or during the remaining term of this Option, whichever is the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised this Option as of the date of Optionee's death; provided, in any case, that this Option may be so exercised only to the extent that this Option has not previously been exercised by Optionee.
9.
No Rights as Shareholder
.  Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option until the effective date of issuance of the Shares following exercise of this Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided in Section 10 hereof.
10.
Recapitalization.
Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been "effected without receipt of consideration by the Company".
In the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a "Reorganization"), unless otherwise provided by the Board, this Option shall terminate immediately prior to such date as is determined by the Board, which date shall be no later than the consummation of such Reorganization. In such event, if the entity which shall be the surviving entity does not tender to Optionee an offer, for which it has no obligation to do so, to substitute for any unexercised Option a stock option or capital stock of such surviving of such surviving entity, as applicable, which on an equitable basis shall provide the Optionee with substantially the same economic benefit as such unexercised Option, then the Board may grant to such Optionee, in its sole and absolute discretion and without obligation, the right for a period commencing thirty (30) days prior to and ending immediately prior to the date determined by the Board pursuant hereto for termination of the Option or during the remaining term of the Option, whichever is the lesser, to exercise any unexpired Option or Options without regard to the installment provisions of Section 5; provided, however, that such exercise shall be subject to the consummation of such Reorganization.
Subject to any required action by the shareholders of the Company, if the Company shall be the surviving entity in any merger or consolidation, this Option thereafter shall pertain to and apply to the securities to which a holder of Shares equal to the Shares subject to this Option would have been entitled by reason of such merger or consolidation, and the installment provisions of Section 5 shall continue to apply.
In the event of a change in the shares of the Company as presently constituted, which is limited to a change of all of its authorized Stock without par value into the same number of shares of Stock with a par value, the shares resulting from any such change shall be deemed to be the Shares within the meaning of this Option.
To the extent that the foregoing adjustments relate to shares or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as hereinbefore expressly provided, Optionee shall have no rights by reason of any subdivision or consolidation of shares of Stock of any class or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number and price of Shares subject to this Option shall not be affected by, and no adjustments shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock of any class.
The grant of this Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve or liquidate or to sell or transfer all or any part of its business or assets.
11.
Taxation upon Exercise of Option.
Optionee understands that, upon exercise of this Option, Optionee will recognize income, for Federal and state income tax purposes, in an amount equal to the amount by which the fair market value of the Shares, determined as of the date of exercise, exceeds the Exercise Price. The acceptance of the Shares by Optionee shall constitute an agreement by Optionee to report such income in accordance with then applicable law and to cooperate with Company in establishing the amount of such income and corresponding deduction to the Company for its income tax purposes. Withholding for federal or state income and employment tax purposes will be made, if and as required by law, from Optionee's then current compensation, or, if such current compensation is insufficient to satisfy withholding tax liability, the Company may require Optionee to make a cash payment to cover such liability as a condition of the exercise of this Option.
12.
Modification, Extension and Renewal of Options.
The Board or Committee, as described in the Plan, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Plan, the Code and the corporate securities rules of Nevada. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee, alter to the Optionee's detriment or impair any rights of Optionee hereunder.
13.
Investment Intent; Restrictions on Transfer.
(a)  Optionee represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part, Optionee (or any person or persons entitled to exercise this Option under the provisions of Sections 7 and 8 hereof) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under the Securities Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written statement.
(b)  Optionee further represents that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary to verify the accuracy of such information
(c)  Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the following form:
THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE 'SECURITIES ACT') OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.
THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THAT CERTAIN NONSTATUTORY STOCK OPTION AGREEMENT DATED ____________, 2003, BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.
and/or such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares have been placed with the Company's transfer agent.
14.
Stand-off Agreement.
Optionee agrees that, in connection with any registration of the Company's securities under the Securities Act, and upon the request of the Company or any underwriter managing an underwritten offering of the Company's securities, Optionee shall not sell, short any sale of, loan, grant an option for, or otherwise dispose of any of the Shares (other than Shares included in the offering) without the prior written consent of the Company or such managing underwriter, as applicable, for a period of at least one year following the effective date of registration of such offering.
15.
Restriction Upon Transfer.
The Shares may not be sold, transferred or otherwise disposed of and shall not be pledged or otherwise hypothecated by the Optionee.
16.
Notices.
Any notice required to be given pursuant to this Option or the Plan shall be in writing and shall be deemed to be delivered upon receipt or, in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at the address last provided by Optionee for his or her employee records.
17.
Agreement Subject to Plan; Applicable Law.
This Option is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan is available to Optionee, at no charge, at the principal office of the Company. Any provision of this Option inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. This Option has been granted, executed and delivered in the State of Nevada, and the interpretation and enforcement shall be governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.
IN WITNESS WHEREOF, the parties hereto have executed this Option as of the date first above written.
ENTERPRISE TECHNOLOGIES, INC.
By:
/s/ Jeet Sidhu
Jeet Sidhu, Optionee
(one of the following, as appropriate, shall be signed)
I certify that as of the date
By his or her signature, the
hereof I am unmarried
spouse of Optionee hereby agrees
to be bound by the provisions of
the foregoing NONSTATUTORY STOCK
OPTION AGREEMENT
________________________
/s/ Jasvir Sidhu
Optionee
Spouse of Optionee
Appendix A
NOTICE OF EXERCISE
Enterprise Technologies, Inc.
Suite 216 - 1628 West 1st Avenue
Vancouver, BC  V6J 1G1
Re: Nonstatutory Stock Option
Notice is hereby given pursuant to Section 6 of my Nonstatutory Stock Option Agreement that I elect to purchase the number of shares set forth below at the exercise price set forth in my option agreement:
Nonstatutory Stock Option Agreement dated: ____________
Number of shares being purchased: ____________
Exercise Price: $____________
A check in the amount of the aggregate price of the shares being purchased is attached.
I hereby confirm that such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended, or any applicable federal or state securities laws.
I understand that the certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.
Further, I understand that, as a result of this exercise of rights, I will recognize income in an amount equal to the amount by which the fair market value of the Shares exceeds the exercise price. I agree to report such income in accordance with then applicable law and to cooperate with Company in establishing the withholding and corresponding deduction to the Company for its income tax purposes.
I agree to provide to the Company such additional documents or information as may be required pursuant to the Company's 2001 Incentive Stock Plan.
_____________________________
(signature)
_____________________________
(name of Optionee)