IA GLOBAL INC
LETTER DATED FEBRUARY 1, 2006
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<DESCRIPTION>LETTER DATED FEBRUARY 1, 2006
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><FONT SIZE="2"><B>Exhibit 10.1</B> </FONT></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>February 1, 2006</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Ominira Networks, LLC </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>28001 Chagrin Blvd. Suite 305</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Beachwood, OH 44122</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Attention:  Dr.&nbsp;Olu Lafe, President and Chief Executive Officer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Re:</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$620,000 Senior Secured Promissory Note dated July 1, 2005, as amended November 4, 2005, December 5, 2005 and January 6, 2006 (the &#147;Note&#148;)</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Dear Dr.&nbsp;Lafe:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Reference is made to Sections 2(a) and 3 of the Note made by Ominira Networks, LLC (the &#147;Company&#148;) to IA Global, Inc. (the &#147;Holder&#148;). Capitalized terms used in this letter are used herein as defined in the Note.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>The Holder hereby declares all principal, interest and other amounts payable by the Company under the Note (the &#147;Note Obligations&#148;) to be immediately due and payable, as an Event of Default under the Note occurred when the Company failed to pay to the Holder the payment due on January 31, 2006 under the Note, which nonpayment has not been cured by the Company as of the date hereof. Without limiting any other rights or remedies that the Holder may have pursuant to the Note, by law or otherwise, the Holder hereby demands that the Company immediately make payment of the Note Obligations by wire transfer of immediately available funds to the account set forth on </font><u><font size=2>Exhibit A</font></u><font size=2> attached hereto.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Notwithstanding the above, the Holder reserves all of its rights to take further actions with respect to the Note. No delay on the part of the Holder in taking any action now or in the future with respect thereto shall be construed to constitute a waiver of any of the Holder&#146;s rights under the Note or to impair or otherwise prejudice the later exercise of any such rights.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in;text-align:left;'><font size=2>Sincerely,</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in;text-align:left;'><B><font SIZE=2>IA GLOBAL, INC.</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in;text-align:left;'><font size=2>&nbsp;</font></p>

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        <td width="288" nowrap valign=top style='padding:0in 0in 6.0pt 0in; '>
            <p  style='margin-bottom:6.0pt;text-indent:0in; page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
        <td width="24" nowrap valign=top style='padding:0in 0in 6.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td  nowrap colspan="2" valign=top style='padding:0in 0in 6.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/ Mark Scott</font></u></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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        <td  nowrap colspan="2" valign=top >
            <p  style='margin-bottom:0in; text-indent:0in;page-break-after:avoid'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Name:</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Mark Scott</font></p> </td>
        <td  width="168">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Title:</font></p> </td>
        <td  nowrap colspan="3" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>President and Chief Financial Officer</font></p> </td> </tr>
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        <td width="288" ></td>

        <td width="24" ></td>

        <td width="48" ></td>

        <td width="61" ></td>

        <td width="29" ></td>

        <td width="168" ></td> </tr> </table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>IA Global, Inc. </font></b><font size=2> </font><font size=2> </font><font size=2>550 North Reo Street, Suite 300, Tampa, FL  33609  USA</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>      Tel: 813-261-5157       Fax: 813-261-5158</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><FONT SIZE="2">&nbsp;</FONT></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><img src="img1.jpg"><br> </p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><u><b><small>EXHIBIT</small> <small>A</small></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><small>WIRE</small> <small>INSTRUCTIONS</small></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Bank of America</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>A.P. Giannini Office, Branch #973 </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>300 S. El Camino Real</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>San Mateo CA. 94402</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Tel. 888-852-5000 ext. 7161</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Fax. 650-375-1027</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Account Manager; Charu Bhola</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Account Name:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>IA Global, Inc. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Checking Account # 09730-13705</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>ABA/Routing Number:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2># 1210 00358 </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font SIZE=2>SWIFT BOFAUS6S</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>IA Global, Inc. </font></b><font size=2> </font><font size=2> </font><font size=2>550 North Reo Street, Suite 300, Tampa, FL  33609  USA</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>      Tel: 813-261-5157       Fax: 813-261-5158</font></p>

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