## Proposed Term Sheet

<table><tr><th>Prior Investment in Greenjets</th><th></th></tr><tr><td>Equity</td><td>1.172mm</td></tr><tr><td>Debt</td><td>.638mm</td></tr><tr><td>Management "in-kind"</td><td>.956mm</td></tr><tr><td>Existing Capital Structure</td><td></td></tr><tr><td>Equity:</td><td>(0.675mm)</td></tr><tr><td>Debt:</td><td>0.560mm</td></tr><tr><td>Shares outstanding:</td><td>1,694,756</td></tr><tr><td>Book value per share:</td><td>(39.830)</td></tr><tr><td>Proposed New Capital Investment:</td><td>2.5mm</td></tr><tr><td>Use of Funds:</td><td></td></tr><tr><td>• Marketing/Advertising (3 new markets)</td><td>0.9mm </td></tr><tr><td>• Operating deficit</td><td>0.6mm </td></tr><tr><td>• Contingency (invested as required)</td><td><u>1 0mm</u></td></tr><tr><td></td><td>2.5mm </td></tr></table>

## Proposed Term Sheet (cont.)

## Recapitalization Process

I) $560,000 in debt is convened into 55% of the company, or 2,071,368 shares (270/share)

2) New capital invested/commited of$2.5mm at 200/share, or 12,500,000 shares.

3) Resulting ownership:

Initial equity investors: 1,694,756 shares (10.4%) Hayes (debt conversion): 2,071,368 shares (12.7%) New Investors: 12,500,000 shares (76.8%) Total shares: 16,266,124

4) Resulting Capital Structure

Equity $2.385mm ($lmm contingent)
Debt $0
Book value per share 14.60/share

Additional terms:

• Subject to satisfactory financial due diligence

• Subject to satisfactory operational and management due diligence

• Subject to reviewing and agreeing a market expansion plan for 3 additional markets over the next twelve months, including specific marketing plans

• Subject to reviewing and agreeing 36 month financial projections, with appropriate break-even date

• Subject to establishing an appropriate incentive plan for management

• Slmin in contingent investment is subject to meeting established targets for growth, gross margin, and net margin: solely at the option of the majority of investors

• Existing investors may invest as part ofnew investment group

• Board of Directors: The Board will consist of seven members: 1 member ofmanagement, 1 nominee ofHayes, 1 independent, and 4 nominees of the new investor group