Patrick Cole, President

Mr. Cole was appointed a director of Armada Mercantile Ltd. on April 19, 1991 and has served as President since July 2, 1991. Mr. Cole is a seasoned venture capitalist and financier who has participated and raised capital from private investor clients and international banking contacts. Mr. Cole has cultivated relationships over the past 20 years with European banks, private equity firms and broker dealers worldwide.

Mr. Cole has an extensive and successful background in raising capital, merchant banking, negotiating letters of intent and structuring transactions. Mr. Cole invests a substantial amount of time with client companies, investors and shareholder contacts, which Mr. Cole feels is key to future success.

Prior to acquiring Armada Mercantile Ltd., Mr. Cole served as controlling shareholder and President of Quattro Resources Ltd., which was acquired in August 1998. From August 1985 to August 1987, Mr. Cole held a Series 7 license with the stock brokerage firm of C.L. McKinney in Los Angeles. At the age of 19, Mr. Cole was one of the youngest stockbrokers in America.