EXHIBIT 10.7

                                     [LOGO]

May 4, 2005

To: JRT Associates

From: Paul S. Lipschutz


      RE: Consulting Agreement

This letter is an addendum to our agreement dated October 10, 2004.

Collectible  Concepts  Group,  Inc.  hereby  agrees that because of the services
provided by Mr.  Theismann in attaining  the NFL license for CCGI,  we will also
pay 5% (five percent) of sales (as defined by the previous  agreement and on the
terms of the previous agreement) for NHL (upon completion of license) sales made
by CCGI.

Additionally,  we will issue options for an additional 3 million  shares at .003
(3 mills) good for 3 years from the date of this addendum.

/s/ Paul S. Lipschutz
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President