EXHIBIT
5.1
December
28, 2006
a21,
Inc.
7660
Centurion Parkway
Jacksonville,
Florida 32256
Ladies
and Gentlemen:
We
have
acted as counsel to a21, Inc., a Delaware corporation (the “Company”), in
connection with the Registration Statement on Form SB-2 (the “Registration
Statement”) filed with the Securities and Exchange Commission under the
Securities Act of 1933, as amended (the “Act”), with respect to the resale of an
aggregate of 95,393,421 shares (the “Shares”) of the Company’s common stock, par
value $.001 per share, by the selling stockholders listed in the Registration
Statement. Of the Shares, (i) 60,820,333 Shares are issued and outstanding
(the
“Outstanding Shares”), (ii) 6,701,800 Shares are issuable upon exercise of
warrants (the “Warrant Shares”), (iii) 4,025,139 Shares are issuable upon
conversion of the Preferred Stock of the Company’s subsidiary, Superstock, Inc.
(the “Preferred Shares”), and (iv) 23,846,149 Shares are issuable upon
conversion of promissory notes (the “Note Shares”).
In
that
connection, we have reviewed such matters of law and examined and relied upon
all such corporate records, agreements, certificates and other documents as
we
have deemed relevant and necessary as a basis for the opinion hereinafter
expressed. In our examination, we have assumed the genuineness of all
signatures, the authenticity of all documents submitted to us as originals
and
the conformity with the original of all documents submitted to us as copies
thereof. Where factual matters relevant to such opinion were not independently
established, we have relied upon certificates of officers and responsible
employees and agents of the Company.
While
certain members of this firm are admitted to practice in certain jurisdictions
other than New York, in rendering the foregoing opinions we have not examined
the law of any jurisdiction other than the United States, New York and Delaware
(our review of Delaware law being limited to Delaware’s General Corporation Law
(“DGCL”)). Accordingly, the opinions we express herein are limited to matters
involving the laws of the United States, New York, and the
DGCL.
Based
upon and subject to the foregoing, we are of the opinion that:
(a) the
Outstanding Shares are validly issued, fully paid and
non-assessable;
(b) the
Warrant Shares, when issued in accordance with the terms of the applicable
warrant and fully paid for in accordance with the terms of the applicable
warrant, will be validly issued, fully paid and non-assessable;
(c) the
Preferred Shares, when issued in accordance with the terms of the agreements
relating to the conversion of the applicable shares of preferred stock, will
be
validly issued, fully paid and non-assessable; and
(d) the
Note
Shares, when issued in accordance with the terms of the applicable promissory
notes, will be validly issued, fully paid and non-assessable.
We
hereby
consent to the filing of this opinion as an exhibit to the Registration
Statement and to the reference to us under the caption “Legal Matters” in the
prospectus constituting a part thereof. In giving this consent, we do not
thereby admit that we are within the category of persons whose consent is
required under Section 7 of the Act, the rules and regulations of the Securities
and Exchange Commission promulgated thereunder or Item 509 of Regulation S-B
promulgated under the Act.
Very
truly yours,
/s/
Loeb
& Loeb LLP
Loeb
& Loeb LLP