Ias Communications A (fka IASCA)

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OPTION AGREEMENT

On November 26, 2007, the Registrant, IAS Energy, Inc., an Oregon corporation (“IAS” or the “Company”), entered into an Option Agreement (the “Option Agreement”) with each of the two shareholders (the “Vendors”) of Power Telecom Limited (“Power Telecom”), a company incorporated in Hong Kong, for the option to acquire up to 100% of the outstanding shares of Power Telecom in consideration for the issuance of up to 50,000,000 Class A shares of common stock of the Company and the requirement to invest up to $650,000 towards the further development of Power Telecom’s business. Power Telecom owns 100% of the rights to the Chinese website http://www.video1314.com.

On September 3, 2008, the Company completed the third option exercise, pursuant to the Option Agreement, and now holds an aggregate of 6,000 shares of Power Telecom’s common stock representing 60% of the issued and outstanding equity and voting interests of Power Telecom. Following completion of the third option exercise, IAS has paid Power Telecom an aggregate of $350,000 cash, for working capital purposes, issued an aggregate of 30,000,000 shares of its common stock to the Vendors, and issued an aggregate of 3,000,000 shares of its common stock as a finders fee, for the first, second and third options.

Immediately following the exercise of this third option by IAS, there were 70,013,817 shares of IAS’s common stock outstanding and the Vendors became a 42.85% shareholder of IAS, holding an aggregate of 30,000,000 shares of common stock of IAS from the exercise of the first three options.

Further options include the following:
1)

To purchase an additional 20% interest in Power Telecom, the Company must issue an additional 10,000,000 Class A common shares, pay a further $150,000 to Power Telecom, and issue an additional 1,000,000 Class A common shares as a finder’s fee.

2)

To purchase an additional 20% interest in Power Telecom, the Company must issue an additional 10,000,000 Class A common shares, pay a further $150,000 to Power Telecom, and issue an additional 1,000,000 Class “A common shares as a finder’s fee.

Material relationships in respect of the transaction between the Vendors or Power Telecom and the Registrant or any of its affiliates, or any director or officer of the Registrant, or any associate of any such director or officer, are set out herein this 8-K/A (see “Certain Relationships and Related Transactions, and Director Independence”).