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<SEC-DOCUMENT>0001297077-06-000085.txt : 20061020
<SEC-HEADER>0001297077-06-000085.hdr.sgml : 20061020
<ACCEPTANCE-DATETIME>20061020165850
ACCESSION NUMBER:		0001297077-06-000085
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20061020
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20061020
DATE AS OF CHANGE:		20061020

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHAMPIONS SPORTS INC
		CENTRAL INDEX KEY:			0000771856
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		IRS NUMBER:				521401755
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17263
		FILM NUMBER:		061156059

	BUSINESS ADDRESS:	
		STREET 1:		2500 WILSON BLVD
		STREET 2:		SUITE 305
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22201
		BUSINESS PHONE:		703-526-04

	MAIL ADDRESS:	
		STREET 1:		1749 OLD MEADOW RD
		STREET 2:		STE 610
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL GROUP INC
		DATE OF NAME CHANGE:	19860319
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>csi8k_10162006.htm
<DESCRIPTION>CSPORTS 8-K
<TEXT>
<html>
<head><meta content="text/html; charset=iso-8859-1">
<title>UNITED STATES</title>
</head>

<body >
<ul>
</ul>

<p>
<p align="center">
<font size="2"><b>UNITED STATES</b></font><br><font size="2"><b>SECURITIES AND
EXCHANGE COMMISSION</b></font><br><font size="2"><b>Washington, D.C.
20549</b></font><p align="center">
<font size="2"><b>FORM 8-K</b></font><p align="center">
<font size="2"><b>CURRENT REPORT</b></font><br><font size="2"><b>Pursuant to
Section 13 OR 15(d) of The Securities Exchange Act of
1934</b></font><p align="center">
<font size="2">Date of Report (Date of earliest event reported): October 16,
2006</font><p align="center">
<font size="2"><b>CHAMPIONS SPORTS, INC.</b></font><br><font size="2">(Exact
name of registrant as specified in its charter)</font></p align="center">
<div align="center" style="position:relative; left: 0"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="173.333290" colspan="1" rowspan="1" >
<p align="center">
<font size="2">Delaware</font></p align="center">
</td>
<td width="143.999964" colspan="1" rowspan="1" >
<p align="center">
<font size="2">0-17263</font></p align="center">
</td>
<td width="173.333290" colspan="1" rowspan="1" >
<p align="center">
<font size="2">52-1401755</font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="173.333290" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(State of other jurisdiction</font></p align="center">
</td>
<td width="143.999964" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(Commission</font></p align="center">
</td>
<td width="173.333290" colspan="1" rowspan="1" >
<p align="center">
<font size="2">(IRS Employer</font></p align="center">
</td>
</tr>
<tr valign="top">
<td width="173.333290" colspan="1" rowspan="1" >
<p align="center">
<font size="2">of incorporation)</font></p align="center">
</td>
<td width="143.999964" colspan="1" rowspan="1" >
<p align="center">
<font size="2">File Number)</font></p align="center">
</td>
<td width="173.333290" colspan="1" rowspan="1" >
<p align="center">
<font size="2">Identification No.)</font></p align="center">
</td>
</tr>
</table></div>
&nbsp;	<p align="center">
<font size="2">2200 Wilson Blvd.</font><br><font size="2">Suite
102-316</font><br><font size="2">Arlington,
VA&nbsp;&nbsp;&nbsp;22201</font><br><font size="2">(Address of principal
executive offices)  (Zip Code)</font><p align="center">
<font size="2">Registrant&#8217;s telephone number, including area code: (703)
526-0400</font><p align="center">
<font size="2">(Former name or former address, if changed since last
report.)</font><p>
<font size="2">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):</font><p>
<font size="2">[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</font><p>
<font size="2">[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</font><p>
<font size="2">[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</font><p>
<font size="2">[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b></b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<p>
<!--<a name="_Toc147111976"></a>--><font size="2"><b>Item 3.02. Unregistered Sales of
Equity Securities</b></font><p>
<font size="2">On October 16, 2006, the Registrant agreed to issue 1,000,000
shares of common stock, a five-year warrant to purchase up to 500,000 shares of
common stock at an exercise price of $.15 per share, and a five-year warrant to
purchase up to 500,000 shares of common stock at an exercise price of $.25 per
share to the holder of 32,450 shares of the Registrant&#8217;s preferred stock,
representing all of the outstanding shares of preferred stock, in exchange for
the cancellation of such shares and the waiver of all accrued and unpaid
dividends on such shares, which totaled $350,460.  These securities were issued
in reliance upon the exemption from registration provided by Sections 3(a)(9) of
the Securities Act.</font><p>
<!--<a name="_Toc147111982"></a>--><font size="2"><b>Item 9.01. Financial Statements
and Exhibits</b></font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Exhibits</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
of warrants to purchase common stock</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>1</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<p align="center">
<font size="2"><b>SIGNATURES</b></font><p>
<font size="2">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 thereunto duly authorized.</font></p>
<div style="position:relative; left: 0"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="437.333224" colspan="2" rowspan="1" >
<p>
<font size="2">Date:&nbsp;&nbsp;October 20, 2006</font></p>
</td>
<td width="245.333272" colspan="3" rowspan="1" >
<p>
<font size="2">CHAMPIONS SPORTS, INC.</font></p>
</td>
</tr>
<tr valign="top">
<td width="683.999829" colspan="5" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="6.666665" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="430.666559" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="23.999994" colspan="1" rowspan="1" >
<p>
<font size="2">By:</font></p>
</td>
<td width="173.333290" colspan="1" rowspan="1" >
<p>
<font size="2"><u>&nbsp;/s/ James M. Martell</u></font></p>
</td>
<td width="47.999988" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="6.666665" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="454.666553" colspan="2" rowspan="1" >
&nbsp;</td>
<td width="221.333278" colspan="2" rowspan="1" >
<p>
<font size="2">James M. Martell</font></p>
</td>
</tr>
<tr valign="top">
<td width="6.666665" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="454.666553" colspan="2" rowspan="1" >
&nbsp;</td>
<td width="221.333278" colspan="2" rowspan="1" >
<p>
<font size="2">Chief Executive Officer</font></p>
</td>
</tr>
<tr valign="top">
<td width="683.999829" colspan="5" rowspan="1" >
&nbsp;</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>2</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
</p>


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4
<SEQUENCE>2
<FILENAME>ex41.htm
<DESCRIPTION>EXHIBIT4.1
<TEXT>
<html>
<head><meta content="text/html; charset=iso-8859-1">
<title>THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#8220;ACT&#8221;), OR UNDER THE SECURITIES LAWS OF APPLICABLE STATES</title>
</head>

<body >
<ul>
</ul>

<p>
<p>
<font size="2"><b><i>THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF
THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#8220;ACT&#8221;), OR UNDER THE SECURITIES LAWS OF APPLICABLE
STATES.  THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND
RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED HEREUNDER AND
UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION
OR EXEMPTION THEREFROM.  INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO
BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.
THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND
SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR
RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS.</i></b></font><p align="center">
<b>WARRANT TO PURCASE COMMON STOCK</b><br><b>OF</b><br><b>CHAMPIONS SPORT,
INC.</b></p>
<div align="center" style="position:relative; left: 0"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="311.999922" colspan="1" rowspan="1" >
<p>
<font size="2">Warrant No. 2006-___</font></p>
</td>
<td width="325.333252" colspan="1" rowspan="1" >
<p align="right">
<font size="2">Issued on:  October __, 2006</font></p align="right">
</td>
</tr>
<tr valign="top">
<td width="311.999922" colspan="1" rowspan="1" >
&nbsp;</td>
<td width="325.333252" colspan="1" rowspan="1" >
<p align="right">
<font size="2">Void after: October __, 2011</font></p align="right">
</td>
</tr>
</table></div>
<p>
<p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This certifies that
______________________________ or registered assigns (the &#8220;<b><i>Warrant
Holder</i></b>&#8221; is entitled, subject to the terms and conditions of this
Warrant, to purchase from the Company at any time during the Exercise Period
(defined below) and prior to October __, 2011 (the &#8220;<b><i>Expiration
Date</i></b>&#8221;) all, or any portion, of ______________ shares of Warrant
Stock (as defined below) as may be purchased at a price per share equal to the
Exercise Price (as defined below), upon surrender of this Warrant at the
principal offices of the Company, together with a duly executed exercise form in
the form attached hereto as <u>Exhibit 1</u> and simultaneous payment of the
full Exercise Price for the shares of Warrant Stock so purchased in lawful money
of the United States.</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Exercise Price and
the number and character of shares of Warrant Stock purchasable under this
Warrant are subject to adjustment as provided herein.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>DEFINITIONS</u>.</b>
The following definitions shall apply for purposes of this Warrant:</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<i>Common
Stock</i>&#8221;</b> means shares of the Company&#8217;s common stock, par value
$0.001 per share.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<i>Company</i>&#8221;</b>
means Champions Sports, Inc., a Delaware corporation, and includes any
corporation or other entity that shall succeed to or assume the obligations of
the Company under this Warrant.</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b></b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<i>Exercise
Period</i>&#8221;</b> means that period that shall commence on the date hereof
and end on the Expiration Date.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<i>Exercise
Price</i>&#8221;</b> means $___ per share, subject to adjustment as provided
herein.</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<i>Holder</i>&#8221;</b>
means any person who shall at the time be the registered holder of this
Warrant.</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<i>Warrant</i>&#8221;</b>
means this Warrant and any warrant(s) delivered in substitution or exchange
therefor, as provided herein.</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>1.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<i>Warrant
Stock</i>&#8221;</b> means shares of the Common Stock issuable upon exercise of
this Warrant.  The number and character of shares of Warrant Stock are subject
to adjustment as provided herein and the term &#8220;Warrant Stock&#8221; shall
include stock and other securities and property at any time receivable or
issuable upon exercise of this Warrant in accordance with its terms.</font><p>
<!--<a name="_Ref497824701"></a>--><font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></font><font size="2"><b>EXERCISE.</b></font><p>
<!--<a name="_Ref497824627"></a>--><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2"><b>2.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><u>Method
of Exercise</u></b>.  Subject to the terms and conditions of this Warrant, the
Holder may exercise this Warrant at any time or from time to time, in whole or
in part, on any business day before the Expiration Date, for that number of
shares of Warrant Stock set forth herein, by surrendering this Warrant at the
principal offices of the Company, with the exercise form attached hereto duly
executed by the Holder, and payment of an amount equal to the product obtained
by multiplying (i) the number of shares of Warrant Stock to be purchased by the
Holder by (ii) the Exercise Price as determined in accordance with the terms
hereof.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Form
of Payment</u></b>.  Payment may be made by (i) a check payable to the
Company&#8217;s order, (ii) wire transfer of funds to the Company, or (iii) any
combination of the foregoing.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Partial
Exercise</u>.</b>  Upon a partial exercise of this Warrant, this Warrant shall
be surrendered by the Warrant Holder and the Company shall, at the time of
delivery of the certificate or certificates of Common Stock, execute and deliver
to the Holder, without charge, a new Warrant of like tenor in which the number
of shares of Warrant Stock shall be reduced by the number of shares of Warrant
Stock purchased upon such exercise.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No
Fractional Shares</u></b>.  No fractional shares may be issued upon any exercise
of this Warrant, and any fractions shall be rounded down to the nearest whole
number of shares.  If upon any exercise of this Warrant a fraction of a share
results, the Company will pay the cash value of any such fractional share,
calculated on the basis of the Exercise Price.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions
on Exercise</u>.</b>  This Warrant may not be exercised if the issuance of the
Warrant Stock upon such exercise would constitute a violation of any applicable
federal or state securities laws or other laws or regulations.  As a condition
to the exercise of this Warrant, the Holder shall execute the form of exercise
attached hereto as <u>Exhibit 1</u>.</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>2</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>ISSUANCE
OF STOCK</u></b>.  This Warrant shall be deemed to have been exercised
immediately prior to the close of business on the date of its surrender for
exercise as provided above, and the person entitled to receive the shares of
Warrant Stock issuable upon such exercise shall be treated for all purposes as
the holder of record of such shares as of the close of business on such date.
As soon as practicable on or after such date and, in any event, within five
business days thereafter, the Company shall issue and deliver to the person or
persons entitled to receive the same a certificate or certificates for the
number of whole shares of Warrant Stock issuable upon such exercise.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>ADJUSTMENT
PROVISIONS</u>.</b>  The number and character of shares of Warrant Stock
issuable upon exercise of this Warrant (or any shares of stock or other
securities or property at the time receivable or issuable upon exercise of this
Warrant) and the Exercise Price therefor, are subject to adjustment upon the
occurrence of the following events between the date this Warrant is issued and
the date it is exercised:</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment
for Stock Splits and Stock Dividends</u></b>.  The Exercise Price of this
Warrant and the number of shares of Warrant Stock issuable upon exercise of this
Warrant (or any shares of stock or other securities at the time issuable upon
exercise of this Warrant) shall each be proportionally adjusted to reflect any
stock dividend, stock split or reverse stock split, or other similar event
affecting the number of outstanding shares of Common Stock (or such other stock
or securities).  Each adjustment under this Section 4.1 shall become effective
on the close of business on the date such dividend, stock split or reverse stock
split, or other similar event becomes effective.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment
for Reorganization, Consolidation, Merger</u>.</b>  In case of any
recapitalization or reorganization of the Company after the date of this
Warrant, or in case, after such date, the Company shall consolidate with, merge
into, or enter into a share exchange with, another corporation or entity (the
&#8220;Successor Entity&#8221;) or other similar event, then, and in each such
case, the Warrant Holder shall be entitled to receive, at any time on or after
the consummation of such recapitalization, reorganization, consolidation,
merger, share exchange or other similar event, shall be entitled to receive, at
the option of the Warrant Holder, either (a) warrants or other securities
exercisable or convertible into common stock of the Successor Entity, or (b) in
lieu of the securities contemplated by clause (a) hereof, the cash, stock or
other securities or property to which the Warrant Holder would have been
entitled upon the consummation of such recapitalization, reorganization,
consolidation, merger, share exchange or other similar event, if the Warrant
Holder had exercised this Warrant immediately prior thereto at the Exercise
Price.  The Company covenants and agrees that any Successor Entity in such
reorganization, consolidation, merger, share exchange or other similar event (if
other than the Company) shall duly execute and deliver to the Warrant Holder a
supplement hereto acknowledging such corporation&#8217;s obligations under this
Warrant; and in each such case, the terms of this Warrant shall be applicable to
the cash, shares of stock or other securities or property receivable upon the
exercise of this Warrant after the consummation of such reorganization,
consolidation, merger, share exchange or other similar event.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Number
of Shares of Warrant Stock</u>.</b>  Simultaneously with any adjustment to the
Exercise Price pursuant to Section 4.1 above, the number of shares of Warrant
Stock that may be purchased upon exercise of this Warrant shall be increased or
decreased proportionately, so that after such adjustment the aggregate Exercise
Price payable hereunder for the increased or decreased number of shares of
Warrant Stock shall be the same as the aggregate Exercise Price in effect
immediately prior to such adjustment; provided, however, any adjustment of the
Exercise Price made pursuant to this  section  shall adjust back in the event
none of the  convertible  securities or options or warrants  which  caused  such
adjustment  are converted or exercised, as the case may
be.</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>3</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Calculations.</u>
</b> All calculations under this Section 4 shall be made to the nearest cent or
the nearest 1/100th of a share, as applicable.  The number of shares of Common
Stock outstanding at any given time shall not include shares owned or held by or
for the account of the Company, and the disposition of any such shares shall be
considered an issue or sale of Common Stock.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice
of Adjustments</u></b>.  The Company shall promptly give written notice of each
adjustment or readjustment of the Exercise Price or the number of shares of
Warrant Stock or other securities issuable upon exercise of this Warrant.  The
notice shall describe the adjustment or readjustment and show in reasonable
detail the facts on which the adjustment or readjustment is based.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No
Change Necessary</u>.</b>  The form of this Warrant need not be changed because
of any adjustment in the Exercise Price or in the number of shares of Warrant
Stock issuable upon its exercise.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Reservation
of Stock</u></b>.  If at any time the number of authorized but unissued (or
treasury shares) of Common Stock or other securities issuable upon exercise of
this Warrant shall not be sufficient to effect the exercise of this Warrant, the
Company will take such corporate action as may, in the opinion of its counsel,
be necessary to increase its authorized but unissued shares of Warrant Stock or
other securities issuable upon exercise of this Warrant as shall be sufficient
for such purpose.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>NO
RIGHTS OR LIABILITIES AS SHAREHOLDER</u></b>.  This Warrant does not by itself
entitle the Holder to any voting rights or other rights as a shareholder of the
Company.  In the absence of affirmative action by the Holder to purchase Warrant
Stock by exercise of this Warrant, no provisions of this Warrant, and no
enumeration herein of the rights or privileges of the Holder, shall cause the
Holder to be a shareholder of the Company for any purpose. </font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>NO
IMPAIRMENT</u>.</b>  The Company will not, by amendment of its certificate of
incorporation or bylaws, or through reorganization, consolidation, merger,
dissolution, issue or sale of securities, sale of assets or any other voluntary
action, willfully avoid or seek to avoid the observance or performance of any of
the terms of this Warrant, but will at all times in good faith assist in the
carrying out of all such terms and in the taking of all such action as may be
necessary or appropriate in order to protect the rights of the Holder against
wrongful impairment.  Without limiting the generality of the foregoing, the
Company will take all such action as may be necessary or appropriate in order
that the Company may duly and validly issue fully paid and nonassessable shares
of Warrant Stock upon the exercise of this Warrant.</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>4</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>NOTICE
REQUIREMENT</u>.</b>  In case (i) the Company shall take a record of the holders
of its Common Stock (or other stock or securities at the time deliverable upon
the exercise of this Warrant) for the purpose of entitling or enabling them to
receive any dividend or other distribution, or to receive any right to subscribe
for or purchase any shares of stock of any class or any other securities, or to
receive any other rights; or (ii) of any capital reorganization of the Company,
any reclassification of the capital stock of the Company, any consolidation or
merger of the Company with or into another corporation (other than a
consolidation or merger in which the Company is the surviving entity), or any
transfer of all or substantially all of the assets of the Company; or (iii) of
the voluntary or involuntary dissolution, liquidation or winding-up of the
Company, then, in each case, the Company will give notice thereof to the Holder
of this Warrant specifying in such notice , as the case may be, (x) the date on
which a record is to be taken for the purpose of such dividend, distribution or
right, or (y) the effective date on which such reorganization, reclassification,
consolidation , merger, transfer, dissolution, liquidation or winding-up is to
take place, and the time, if any is to be fixed, as of which the holders of
record of Common Stock (or such other stock or securities at the time
deliverable upon the exercise of this Warrant) shall be entitled to exchange
their shares of Common Stock (or such other stock or securities) for the
security or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up.  Such notice shall be given by the Company at least five business
days prior to the record date or effective date for the event specified in such
notice.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>ATTORNEYS&#8217;
FEES</u>.</b>  In the event any party is required to engage the services of any
attorneys for the purpose of enforcing this Warrant, or any provision thereof,
the prevailing party shall be entitled to recover its reasonable expenses and
costs in enforcing this Warrant, including reasonable attorneys&#8217;
fees.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>TRANSFER</u>.</b>
Neither this Warrant nor the Warrant Stock nor any rights hereunder may be
assigned, conveyed or transferred, in whole or in part in any transaction
constituting a public offering, without, in each case, the Company&#8217;s prior
written consent, which the Company may withhold in its sole discretion.  This
Warrant may be assigned, conveyed or transferred by the Holder without the prior
written consent of the Company to (a) any family member of the Holder of this
Warrant or (b) any person, firm or corporation that directly, or indirectly
through one or more intermediaries, controls, is controlled by, or is under
common control with the Holder.  The rights and obligations of the Company and
the Holder under this Warrant shall be binding upon and benefit their respective
permitted successors, assigns, heirs, administrators and transferees.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>GOVERNING
LAW</u>.</b>  This Warrant shall be governed by and construed under the internal
laws of the State of Delaware as applied to agreements among Delaware residents
entered into and to be performed entirely within Delaware, without reference to
principles of conflict of laws or choice of laws.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>HEADINGS</u>.</b>
The headings and captions used in this Warrant are used only for convenience and
are not to be considered in construing or interpreting this Warrant.  All
references in this Warrant to sections and exhibits shall, unless otherwise
provided, refer to sections hereof and exhibits attached hereto, all of which
exhibits are incorporated herein by this reference.</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>5</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>NOTICES</u></b>.
Unless otherwise provided, any notice required or permitted under this Warrant
shall be given in writing and shall be deemed effectively given (i) at the time
of personal delivery, if delivery is in person; (ii) one (1) business day
delivery by facsimile transmission or after deposit with an express overnight
courier for United States deliveries, with proof of delivery from the courier
requested (provided that written or electronic confirmation of receipt is
obtained), or two (2) business days after such deposit for deliveries outside of
the United States, with proof of delivery from the courier requested; or (iii)
on the day of proof of receipt, if mailed by registered or certified mail
(return receipt requested) for United States deliveries when, in the case of the
Holder, addressed to the Holder at the address indicated for such Holder on the
stock register of the Company or, in the case of the Company, at 2200 Wilson
Boulevard, Suite 102-316, Arlington, Virginia 22201, or at such other address as
the Holder or the Company may designate by giving ten (10) days&#8217; advance
written notice to the other.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>AMENDMENT;
WAIVER</u></b>.  This Warrant may be amended and provisions may be waived by the
Holder and the Company as may be mutually agreed upon in writing.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>SEVERABILITY</u>.</b>
If one or more provisions of this Warrant are held to be unenforceable under
applicable law, such provision(s) shall be excluded from this Warrant and the
balance of the Warrant shall be interpreted as if such provision(s) were so
excluded and shall be enforceable in accordance with its terms.</font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>TERMS
BINDING</u></b>.  By acceptance of this Warrant, the Holder accepts and agrees
to be bound by all the terms and conditions of this Warrant. </font><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>MISCELLANEOUS</u>.</b>
In any instance where the word &#8220;days&#8221; is used herein, unless
otherwise indicated, &#8220;days&#8221; shall mean calendar days, including
Saturday, Sunday and holidays.</font><p align="center">
<font size="2"><b><i>[The balance of this page intentionally left
blank]</i></b></font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>6</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<font size="2"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF,
</b>the parties hereto have executed this Warrant as of the date first above
written.</font><p>
<font size="2"><b>CHAMPIONS SPORTS, INC.</b></font><p>
<font size="2">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><p>
<font size="2">Name:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><p>
<font size="2">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b>7</b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<p align="center">
<font face="Times New Roman Bold" size="2"><b>EXHIBIT
</b></font><font size="2"><b>1</b></font><p align="center">
<font size="2"><b><u>FORM
OF</u></b></font><font face="Times New Roman Bold" size="2"><b><u>
EXERCISE</u></b></font><br><font size="2"><b>(To be signed only upon exercise of
Warrant)</b></font><p>
<font size="2">To:  Champions Sports, Inc.</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Holder
hereby elects to purchase ____________ shares of Common Stock of Champions
Sports, Inc. (the &#8220;<b><i>Warrant Stock</i></b>&#8221;), at a purchase
price of $____ per share for a total purchase price of $________________,
pursuant to the terms of the attached Warrant, and tenders herewith payment of
the purchase price for such shares in full.</font><p>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please issue a
certificate or certificates representing such shares of Warrant Stock in the
name specified below:</font></p>
<div style="position:relative; left: 307"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p style="border-bottom:solid windowtext .5pt">
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p>
<font size="2">(Name)</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p style="border-bottom:solid windowtext .5pt">
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p>
<font size="2">(Address)</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p style="border-bottom:solid windowtext .5pt">
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p>
<font size="2">(City, State, Zip Code)</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p style="border-bottom:solid windowtext .5pt">
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p>
<font size="2">(Federal Tax Identification Number)</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
&nbsp;</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p style="border-bottom:solid windowtext .5pt">
<font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p>
<font size="2">(Date)</font></p>
</td>
</tr>
</table></div>
<p>
<p>
<font size="2">In the event that this exercise is for less than the total number
of shares of Warrant Stock available for exercise under this Warrant, please
also issue a new Warrant for the remaining number of shares of Warrant
Stock.</font></p>
<div style="position:relative; left: 307"><table border=0 cellpadding=0 cellspacing =0 >
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p style="border-bottom:solid windowtext .5pt">
<font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>
<tr valign="top">
<td width="269.333266" colspan="1" rowspan="1" >
<p>
<font size="2">Signature of Warrant Holder</font></p>
</td>
</tr>
</table></div>
<p>
</p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b></b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<p align="center">
<font size="2"><b>FORM OF
ASSIGNMENT</b></font><br><!--<a name="_DV_M88"></a>--><font size="2"><b>(ENTIRE)</b></font><p align="center">
<!--<a name="_DV_M89"></a>--><font size="2"><b>[To be signed only upon transfer of
entire Warrant]</b></font><p align="center">
<!--<a name="_DV_M90"></a>--><font size="2"><b>TO BE EXECUTED BY THE REGISTERED
HOLDER</b></font><br><font size="2"><b>TO TRANSFER THE WITHIN
WARRANT</b></font></p>
&nbsp;FOR VALUE RECEIVED ___________________________ hereby sells, assigns and transfers unto _______________________________ all rights of the undersigned under and pursuant to the within Warrant, and the undersigned does hereby irrevocably constitute and appoint _____________________ Attorney to transfer the said Warrant on the books of Champions Sports, Inc., with full power of substitution.	<p>
<p>
<!--<a name="_DV_M91"></a>--><font size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><br><!--<a name="_DV_M92"></a>--><font size="2">[Type
Name of Holder]</font><p>
<!--<a name="_DV_M93"></a>--><font size="2">By:
</font><font size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><br><font size="2">Title:
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><p>
<!--<a name="_DV_M94"></a>--><font size="2">Dated:
</font><font size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><br><br><!--<a name="_DV_M95"></a>--><font size="2"><b>NOTICE</b></font><p>
<!--<a name="_DV_M96"></a>--><font size="2">The signature to the foregoing Assignment
must correspond exactly to the name as written upon the face of the within
Warrant, without alteration or enlargement or any change
whatsoever.</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b></b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
<p align="center">
<!--<a name="_DV_M97"></a>--><font size="2"><b>FORM OF
ASSIGNMENT</b></font><br><font size="2"><b>(PARTIAL)</b></font><p align="center">
<!--<a name="_DV_M98"></a>--><font size="2"><b>[To be signed only upon partial transfer
of Warrant]</b></font><p align="center">
<!--<a name="_DV_M99"></a>--><font size="2"><b>TO BE EXECUTED BY THE REGISTERED
HOLDER</b></font><br><font size="2"><b>TO TRANSFER THE WITHIN
WARRANT</b></font><p>
<!--<a name="_DV_M100"></a>--><font size="2">FOR VALUE RECEIVED
___________________________ hereby sells, assigns and transfers unto
____________________________ (i)&nbsp;the rights of the undersigned to purchase
____________________ shares of Common Stock under and pursuant to the within
Warrant, and (ii)&nbsp;on a non-exclusive basis, all other rights of the
undersigned under and pursuant to the within Warrant, it being understood that
the undersigned shall retain, severally (and not jointly) with the transferee(s)
named herein, all rights assigned on such non-exclusive basis.  The undersigned
does hereby irrevocably constitute and appoint __________________________
Attorney to transfer the said Warrant on the books of Champions Sports, Inc.,
with full power of substitution.</font><p>
<!--<a name="_DV_M101"></a>--><!--<a name="_DV_M105"></a>--><font size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><br><font size="2">[Type
Name of Holder]</font><p>
<font size="2">By:
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><br><font size="2">Title:
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><p>
<font size="2">Dated:
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><br><br><font size="2"><b>NOTICE</b></font><p>
<font size="2">The signature to the foregoing Assignment must correspond exactly
to the name as written upon the face of the within Warrant, without alteration
or enlargement or any change whatsoever.</font></p align="center">
<div align="center" color="#000080" style="position:relative; left: -5"><b></b><hr size="3" color="#999999" STYLE="page-break-after: always"> &nbsp; </div><p>
</p>


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