UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB


      X    QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE    SECURITIES
           EXCHANGE ACT OF 1934

               For the quarterly period ended December 31, 2004

           _ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934
                        For the transition period from to
                        Commission File Number 000-24541

                          CORGENIX MEDICAL CORPORATION
                 (Name of Small Business Issuer in its Charter)

              Nevada                           93-1223466
  (State or other jurisdiction of    (I.R.S. Employer Identification
  incorporation or organization)                  No.)


                12061 Tejon Street, Westminster, Colorado 80234

         (Address of principal executive offices, including zip code)

                                 (303) 457-4345


               (Issuer's telephone number, including area code)


      (Former  name,  former  address and former  fiscal year, if changed since
      last report)


Check  whether  the  issuer:  (1) filed  all  reports  required  to be filed by
Section  13 or 15(d) of the  Exchange  Act  during  the past 12 months  (or for
such shorter  period that the  registrant  was required to file such  reports),
and  (2)  has  been  subject  to  such  filing  requirements  for  the  past 90
days.     Yes X   No  ___
              -


The number of shares of Common Stock outstanding was 5,343,826 as of February
14, 2005.


Transitional Small Business Disclosure Format.     Yes _     No   X
                                                                  -

<PAGE>





                          CORGENIX MEDICAL CORPORATION


                                December 31, 2004





                                TABLE OF CONTENTS


                                                                     Page


                                     Part I


                              Financial Information


      Item 1.   Consolidated Financial Statements                    3


      Item 2.   Management's Discussion and Analysis or Plan of
                Operation                                           12



      Item 3.  Controls and Procedures                              17




                                     Part II


                                Other Information


      Item 1.   Legal Proceedings                                   22


      Item 2.   Changes in Securities and Use of Proceeds           22


      Item 3.   Defaults Upon Senior Securities                     22


      Item 4.   Submission of Matters to a Vote of Security Holders 22


      Item 5.   Other Information                                   22


      Item 6.   Exhibits and Reports on Form 8-K                    22


      Certifications                                                25


      Signature Page                                                30







<PAGE>




                                     PART I
                   Item 1. Consolidated Financial Statements
                          CORGENIX MEDICAL CORPORATION
                                AND SUBSIDIARIES
                           Consolidated Balance Sheets

-------------------------------------------------------------------------------

                                                   June

                                                December 31,    June 30,
                                                   2004           2004
                                                ----------      -----------
                                                (Unaudited)
                     Assets

Current Assets:
   Cash and equivalents                           $425,295        468,954

   Accounts receivable, less allowance for         779,547        834,153
    doubtful accounts of  $30,410 and $13,410
   Inventories                                    1,147,048       982,227
   Prepaid expenses                                  32,384        30,276
                                                  -------------------------

                    Total current assets          2,384,274     2,315,610

Equipment:
   Capitalized software costs                       122,855       122,855
   Machinery and laboratory equipment               638,721       588,219
   Furniture, fixtures, leaseholds and office       521,057       511,488
equipment                                         ------------------------
                                                  1,282,633     1,222,562
   Accumulated depreciation and amortization       (971,164)     (913,020)
                                                  ------------------------
                    Net equipment                   311,469       309,542
                                                  ------------------------

Intangible assets:
   Licenses                                           9,473          -
   Patents, net of accumulated amortization of       60,822       98,070
    $1,056,722 and $1,019,474
   Goodwill, net of accumulated amortization of      13,677       13,677
    $44,979                                       ------------------------

                     Net intangible assets           83,972      111,747
                                                  ------------------------

   Due from officer                                  12,000       12,000
   Other assets                                      94,460       98,925
                                                  ------------------------

                     Total assets                 $2,886,175   2,847,824
                                               ============================


      Liabilities and Stockholders' Equity

Current liabilities:
   Current portion of notes payable               $ 580,875      569,988

   Current portion of capital lease obligations      43,689       51,395
   Accounts payable                                 729,214      483,642
   Accrued payroll and related liabilities          177,456      173,392
   Accrued interest                                 145,895      127,831
   Accrued liabilities                              170,559      169,929
                                                  -----------------------

                       Total current liabilities  1,847,688    1,576,177

Notes payable, less current portion                 275,402      238,445
Capital lease obligations, less current portion      32,058        9,712
                                                  -----------------------

                       Total liabilities          2,155,148    1,824,334
                                                  ------------------------
Redeemable common stock, 880,282 shares issued
   and outstanding, aggregate    redemption
   value of  $500,000, net of unaccreted
   discount and issuance costs of $21,641 and
   $64,919                                          478,359      435,081

Stockholders' equity:
   Preferred stock, $0.001 par value.
   Authorized 5,000,000 shares, none issued or         -             -
   outstanding
   Common stock, $0.001 par value.  Authorized
   40,000,000 shares; issued and outstanding          4,447        4,440
   5,327,558 and 5,321,319 shares at December 31
   and June 30, respectively
   Additional paid-in-capital                     5,454,213    5,449,100
   Accumulated deficit                           (5,189,282)  (4,853,767)
   Accumulated other comprehensive loss             (16,710)     (11,364)
                                                  ------------------------

                        Total stockholders' equity 252,668       588,409
                                                  ------------------------
                         Total liabilities and
                         stockholders' equity   $2,886,175    2,847,824
                                                ===========================
See accompanying notes to consolidated financial statements.


<PAGE>






                          CORGENIX MEDICAL CORPORATION
                                AND SUBSIDIARIES
        Consolidated Statements of Operations and Comprehensive Income

                            Three Months Ended         Six Months Ended
                        December 31,  December 31,  December 31, December 31,
                           2004          2003          2004          2003
                       -------------------------------------------------------
                               (Unaudited)                 (Unaudited)
Net sales            $ 1,276,571      1,186,738      2,579,642      2,389,068
Cost of sales            451,051        446,129      1,008,273        917,805
                       --------------------------------------------------------

     Gross profit    $   825,520        740,609      1,571,369      1,471,263


Operating expenses:
   Selling and marketing 368,538        340,381        744,476        654,093

   Research/development  138,887        182,341        295,445        370,228

   General and
administrative           334,192        270,487        633,541        540,047
                     ---------------------------------------------------------

         Total expenses  841,617        793,209      1,673,462      1,564,368


          Operating loss (16,097)       (52,600)      (102,093)       (93,105)


Interest expense, net     85,941         22,920        190,144         47,795

                     ---------------------------------------------------------

          Net loss    $ (102,038)       (75,520)      (292,237)      (140,900)


 Accretion of discount on
   redeemable common stock 21,639        21,639         43,278        43,278

                    ----------------------------------------------------------

Net loss available to
  common stockholders   $(123,677)      (97,159)      (335,515)     (184,178)
                        ==========      ========      =========     =========


 Net loss per share, basic
and diluted             $   (0.02)         (0.02)         (0.06)      (0.03)

Weighted average shares
   outstanding,basic and diluted
   (note 2)              5,337,058      5,299,163     5,330,938     5,296,820
                        ============   ===========   ============  ===========


          Net loss     $  (102,038)       (75,520)     (292,237)     (140,900)


Other comprehensive
loss-foreign currency
translation loss            (3,527)       (10,698)       (5,346)      (11,135)
                            -------       --------       -------    ----------

 Total comprehensive loss $(105,565)      (86,218)     (297,583)     (152,035)
                           ========       ========     =========     ========
See accompanying notes
to consolidated financial statements.

<PAGE>


                          CORGENIX MEDICAL CORPORATION
                                AND SUBSIDIARIES
                 Consolidated Statement of Stockholders' Equity
                   For the six months ended December 31, 2004
                                   (unaudited)

            Common     Common                         Accumulated
            Stock,     Stock,  Additional               other       Total
            Number     $0.001   paid-in   Accumulated  compreh.   stockholders'
         of shares      par    capital     deficit       loss       equity
         ----------------------------------------------------------------------

Balance at
June 30,
2004     5,321,319   $ 4,440    5,449,100 (4,853,767)  (11,364)      588,409

Issuance of common
stock and stock
options for
services    6,239          7        5,113                             5,120
Foreign currency
translation                                             (5,346)      (5,346)
Accretion of
discount on
redeemable
common stock                                 (43,278)               (43,278)
Net loss                                    (292,237)              (292,237)
        ----------------------------------------------------------------------

Balance at
December 31,
2004     5,327,558   $  4,447    5,454,213  (5,189,282)  (16,710)    252,668
         =====================================================================
See accompanying notes to consolidated financial statements.



<PAGE>




                          CORGENIX MEDICAL CORPORATION
                                AND SUBSIDIARIES



                      Consolidated Statements of Cash Flows
-------------------------------------------------------------------------------

                                                   Six Months Ended
                                               December 31,  December 31,
                                                 2004           2003
                                               --------------------------
                                                       (Unaudited)
Cash flows from operating activities:
  Net loss                                  $ (292,237)       (140,900)
  Adjustments to reconcile net income
 to net cash used in operating activities:
             Depreciation and amortization      94,033         100,167
             Accretion of discount on
             notes payable                     148,127            -
             Equity instruments issued
             for services                        5,120          6,920
             Changes in operating assets and liabilities:

                   Accounts receivable          71,718         36,413
                  Inventories                 (163,098)       (17,843)
                  Prepaid expenses and
                     other assets               (6,489)        (6,004)
                 Accounts payable              213,675       (123,853)
                 Accrued payroll and
                     related liabilities         5,963            287
                 Accrued interest and
                     other liabilities          15,131         46,205
                                               ---------------------------

                  Net cash provided (used) in
                  operating activities          91,943        (98,608)
                                               ---------------------------

Cash flows used in investing activities:
   Purchases of equipment                      (12,635)        (5,809)
                                               ---------------------------

Cash flows from financing activities:
  Proceeds from issuance of notes
  payable                                          -          165,936
  Payments on notes payable                   (100,283)       (89,347)
  Payments on capital lease obligations        (30,760)       (48,190)
                                               --------------------------

                  Net cash (used) provided
                  by financing activities     (131,043)        28,399
                                               --------------------------

                  Net decrease in cash and
                  cash equivalents             (51,735)       (76,018)

Impact of foreign currency translation
adjustment on cash                               8,076        (11,136)

Cash and cash equivalents at beginning
of period                                      468,954        342,377
                                               -------------------------
Cash and cash equivalents at end of
period                                       $ 425,295        255,223
                                               =========================

Supplemental cash flow disclosures:
  Cash paid for interest                     $  25,179         29,234
                                             ----------------------------
Noncash investing and financing
activity--
    Equipment acquired under capital leases  $  45,400            -
                                             -----------------------------

See accompanying notes to consolidated financial statements.


<PAGE>


                 CORGENIX MEDICAL CORPORATION AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.        DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Corgenix Medical Corporation ("Corgenix" or the "Company") is engaged in the
research, development, manufacture, and marketing of in vitro (outside the body)
diagnostic products for use in disease detection and prevention. We currently
sell 90 diagnostic products on a worldwide basis to hospitals, clinical
laboratories, commercial reference laboratories, and research institutions.

Our corporate headquarters is located in Westminster, Colorado. We have two
wholly owned operating subsidiaries:

o     Corgenix,  Inc.,  ("Corgenix,  Inc.") (formerly  REAADS),  established in
           1990  and  located  in  Westminster,  Colorado.  Corgenix,  Inc.  is
           responsible  for sales and marketing  activities  for North America,
           and also conducts product development,  product support,  regulatory
           affairs and product manufacturing of the diagnostic products.

o          Corgenix (UK) Ltd., ("Corgenix UK"), incorporated in the United
           Kingdom in 1996 (formerly REAADS Bio-Medical Products (UK) Limited),
           is located in Peterborough, England. Corgenix UK manages the
           diagnostic products business' international sales and marketing
           activities except for distribution in North America, which is under
           the responsibility of Corgenix, Inc.

On October 15, 2004 the Company and Genesis Bioventures, Inc. (which we refer to
as GBI or Genesis), a biomedical development company focused on the development
of diagnostic tests, signed an amendment to the May 21, 2004 Amended and
Restated Plan of Merger (the "Merger Agreement"), extending the closing date for
the proposed merger to on or before February 28, 2005. The extension was
executed in the form of Amendment No. 1 (the "Amendment") to the Merger
Agreement, a copy of which was filed on Form 8-K on October 20, 2004.

The Amendment, among other changes, allowed the Company to terminate the Merger
Agreement at any time prior to November 30, 2004 if it were not satisfied with
the terms or the progress of the new equity financing. A new equity financing in
an amount of at least $6,000,000 (the "Takeout Financing") was a condition to
the closing of the Merger pursuant to section 9.13 of the Merger Agreement. On
November 30, 2004, the Company and Genesis agreed to extend the date for
obtaining the financing to December 10, 2004. On December 9, 2004, the parties
agreed to extend the date to December 31, 2004, and on December 31, 2004, the
parties agreed to extend the deadline for terminating the Merger Agreement to
January 15, 2005. These extensions are documented as Amendments No. 2, 3 and 4
to the Merger Agreement. Management of Corgenix believed that, given the delays
experienced during the holiday season, and given the timing delays that are
often associated with seeking funds in overseas markets, it was appropriate and
in the best interests of the Company to allow Genesis additional time to pursue
the new equity financing.

On January 14, 2005 Corgenix terminated the Amended and Restated Agreement and
Plan of Merger with Genesis Bioventures, Inc. due to the lack of progress
towards the completion of the $6,000,000 merger-related financing and the
expiration of key dates within the Merger Agreement (as amended).

On March 24, 2004, Genesis advanced $500,000 to Corgenix, which is represented
by a promissory note (the "Bridge Note"). As a result of the termination of the
Merger Agreement, the note has converted to a fixed two-year term note bearing
interest at the prime rate in effect as of the date of termination of the Merger
Agreement, or 5.25%. The note is fully-amortized over four semi-annual payments
of principal and accrued interest; however, the note is convertible, at the
election of Genesis, into Corgenix common stock at a conversion price of $.568
per share.

The market value of the Company's stock had increased from the date of the
letter of intent to the date the Bridge Note was executed, resulting in a
beneficial conversion feature that was credited to equity, and an equal amount
is being recognized as interest expense over the term of the Bridge Note, using
the effective interest method.
The accompanying consolidated financial statements have been prepared without
audit and in accordance with accounting principles generally accepted in the
United States for interim financial information and with the instructions to
Form 10-QSB and Article 10 of Regulation S-X. Accordingly, they do not include
all of the information and footnotes required by accounting principles generally
accepted in the United States for complete financial statements. In the opinion
of the Company, the financial statements include all adjustments (consisting of
normal recurring accruals and adjustments) required to present fairly the
Company's financial position at December 31, 2004 and June 30, 2004 and the
results of operations for each of the three- and six-month periods ended
December 31, 2004 and 2003, and the cash flows for each of the six month periods
then ended. The operating results for the three and six months ended December
31, 2004 are not necessarily indicative of the results that may be expected for
the year ended June 30, 2005. For further information, refer to the consolidated
financial statements and footnotes thereto included in the Company's annual
report on Form 10-KSB for the fiscal year ended June 30, 2004.Management of the
Company has made a number of estimates and assumptions relating to the reporting
of assets and liabilities and the disclosure of contingent assets and
liabilities to prepare these financial statements in conformity with accounting
principles generally accepted in the United States of America. Significant
assumptions inherent in the preparation of the accompanying financial statements
include, but are not limited to, revenue recognition and allowances for doubtful
accounts, the provision for excess and obsolete inventories, and commitments and
contingencies. Actual results could differ from those estimates.

  2.     EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net loss attributable to
common stockholders by the weighted average number of common shares outstanding.
Diluted earnings (loss) per share is computed by dividing net loss attributable
to common stockholders by the weighted average number of common shares
outstanding, increased for potentially dilutive common shares outstanding during
the period. The dilutive effect of stock options and their equivalents is
calculated using the treasury stock method. No stock options were granted in the
most recent quarter or six months ended December 31, 2004 or 2003. Options and
warrants to purchase common stock totaling 42,470 and 84,422 shares for the
quarter and six months ended December 31, 2004, respectively, and totaling
560,747 and 418,737 shares for the quarter and six months ended December 31,
2003 respectively, are not included in the calculation of weighted average
common shares-diluted below as their effect is anti-dilutive. Redeemable common
stock is included in the common shares outstanding for purposes of calculating
net loss per share.

      The components of basic and diluted loss per share are as follows:
                              3 months     3 months     6 months   6 months
                               ended        ended       ended       ended
                            December 31,  December 31, December 31, December 31,
                                2004          2003         2004        2003
                          -----------------------------------------------------

Net loss  available  to common
shareholders               $ (123,677)     (97,159)    (335,515)   (184,178)
                            ===================================================

Common and common equivalent shares outstanding:
  Historical   common   shares
   outstanding    for    basic
   income  (loss) per share at
   beginning of  period     5,324,818     5,294,477    5,321,319   5,271,192
  Weighted    average   common
   shares issued during the
   period                      12,240         4,686        9,619      25,628
                             -------------------------------------------------

  Weighted    average   common
   shares-basic and diluted 5,337,058      5,299,163    5,330,938   5,296,820
Net loss per  share-basic  and
diluted                    $   (0.02)          (0.02)       (0.06 )     (0.03)
                            ===================================================

3.     INCOME TAXES

A valuation allowance was provided for deferred tax assets, as the Company is
unable to conclude under relevant accounting standards that it is more likely
than not that deferred tax assets will be realizable.

4.    SEGMENT INFORMATION

The Company has two segments of business: domestic and international operations.
International operations primarily transact sales with customers in Europe and
continents other than North America, while domestic operations transact sales
primarily in North America. The following table sets forth selected financial
data for these segments for the three-and six-month periods ended December 31,
2004 and 2003.
                  Three Months Ended December 31,  Six Months Ended December 31,
                     Domestic   Intl.   Total    Domestic     Intl.     Total

Net
sales
2004            $    904,689   371,882 1,276,571  1,878,964  700,678  2,579,642
2003            $    921,292   265,446 1,186,738  1,851,487  537,581  2,389,068
                   ----------  --------  -------  -------  --------- --------
                   ==========  ========  =======  =======  ========= ========
Net income
(loss)
2004            $   (208,712)  106,674  (102,038)  (464,903)  172,666  (292,237)
                   ==========  ========  =======  ========== ========= ========
2003            $   (122,726)   47,206   (75,520)  (249,172)  108,272  (140,900)
                   ==========  ========  =======  ==========  ========= ========
Depreciation
and
amortization
2004            $    47,396        569    47,965      92,900    1,133    94,033
2003            $    50,106        513    50,619      99,141    1,026   100,167
                   ==========   ========  =======     =======  ======= ========

Interest expense,
net
2004           $    (84,930)    (1,011)  (85,941)  (188,119)  (2,025) (190,144)
2003           $    (20,691)    (2,229)  (22,920)   (42,286)  (5,509)  (47,795)
                   ----------  --------  -------    -------   -------- --------

Segment
assets
2004           $   2,403,087   473,615 2,876,702  2,403,087   473,615 2,876,702
June 30, 2004  $   2,458,732   389,092 2,847,824  2,458,732   389,092 2,847,824
                  ==========  ========  =======    =======    ======== ========


5.    REDEEMABLE COMMON STOCK

On July 1, 2002, as part of the Medical & Biological Laboratories Co., Ltd.
(MBL) Agreement, MBL purchased shares of the Company's common stock for
$500,000, which MBL can require the Company to repurchase at the same price in
the event that a previously existing distribution agreement with RhiGene, Inc.
is terminated or once it expires. For no additional consideration, MBL was also
issued warrants to purchase an additional 880,282 shares of Common Stock at a
price of $.568 per share, which is equal to an aggregate amount of $500,000.
These warrants expire on July 3, 2007 and may be exercised in whole or in part
at any time prior to their expiration. The estimated fair value of the warrant
upon issuance was calculated as $401,809 using the Black-Scholes option-pricing
model with the following assumptions: no expected dividend yield, 143%
volatility, risk free interest rate of 4.2% and an expected life of five years.
The gross proceeds of $500,000 were allocated $277,221 to redeemable common
stock and $222,779 to the related warrants based on the relative fair values of
the respective instruments to the fair value of the aggregate transaction.
Issuance costs and the discount attributed to the redeemable common stock upon
issuance are being accreted over the 33-month period prior to the presently
expected first date on which the put option may be exercised, which is the
present expiration date of the distribution agreement between the Company and
RhiGene, Inc. Furthermore, pursuant to the agreement with MBL, as long as MBL
holds at least 50% of the common stock purchased under the MBL agreement, MBL
must give its written consent with respect to the payment of any dividend, the
repurchase of any of the Company's equity securities, the liquidation or
dissolution of the Company or the amendment of any provision of the Company's
Articles of Incorporation or Bylaws which would adversely affect the rights of
MBL under the stock purchase transaction documents. MBL was granted standard
anti-dilution rights with respect to stock issuances not registered under the
Securities Act. MBL also received standard piggyback registration rights along
with certain demand registration rights.



   6.  STOCK PLANS


The Company accounts for its stock plans in accordance with the provisions of
Accounting Principles Board (APB) Opinion No. 25, Accounting for Stock Issued to
Employees, SFAS No.148, Accounting for Stock-Based Compensation-Transition and
Disclosure, and related interpretations. As such, compensation expense is
recorded on the date of grant only if the current market price of the underlying
stock exceeds the exercise price. SFAS No. 123, Accounting for Stock-Based
Compensation, permits entities to recognize as expense over the vesting period
the fair value of all stock-based awards on the date of grant. Alternatively,
SFAS No. 123 also allows entities to continue to apply the provisions of APB
Opinion No. 25 and provide pro forma net loss disclosures for employee stock
option grants as if the fair-value-based method defined in SFAS No. 123 had been
applied. The Company has elected to continue to apply the provisions of APB
Opinion No. 25 and provide the pro forma disclosures required by SFAS No. 123.

Had the Company determined compensation cost based on the fair value at the date
of grant for its stock options under SFAS No. 123, the Company's net loss would
have been increased to the pro forma amounts indicated as follows:

                                  Three   Three   Six      Six
                                 Months  Months   Months   Months
                                 Ended    Ended   Ended    Ended
                                -----------------------------------
                                December December December December
                                   31,      31,      31,      31,
                                -----------------------------------
                                  2004     2003     2004     2003
                                -----------------------------------

  Net   loss   available   to
    common   stockholders  as $
    reported                    (123,677)  (97,159) (335,515) (184,178)
  Deduct  total   stock-based
    employee     compensation
    expense  determined under
    fair-value   method   for
    all awards, net of tax      (10,679)   (15,107)  (21,358)  (30,214)
  Net   loss   available   to
    common  stockholders  pro
    forma                      (134,356)  (112,266) (356,873) (214,392)
  Net loss per share as
    reported                      (0.02)     (0.02)    (0.06)    (0.03)
  Net loss per share pro          (0.03)     (0.02)    (0.07)    (0.03)
    forma

Fair value was determined using the Black Scholes option - pricing model. There
were no stock options granted during the six months ended December 31, 2004 and
2003.

7.    NOTES PAYABLE

    Certain of the notes payable restrict the payment of dividends on the
    Company's common stock. Notes payable consist of the following at December
    31, 2004 and June 30, 2004:

                                              December 31,   June 30,
                                                  2004        2004
                                             ------------  ------------

    Bridge Note payable to
    Genesis Bioventures,Inc., net of
    discount of $267,072 and  $415,199.
    See discussion of terms below.           $  202,928        84,801

    Note payable to a bank, with interest at prime plus 2.75%
    (7.0% at June 30, 2004), due in monthly installments of principal and
    interest of $13,369 through January 2007, collateralized by commercial
    security agreements and a key man
    life insurance policy.                      301,454       369,351

    Variable Rate Loan payable to a bank, with interest at prime plus
    1.0% (minimum rate of 5.5%), due in monthly installments of principal and
    interest through January 2005. This loan payable is collateralized by
    accounts receivable and inventory and is an extension and conversion of a
    revolving credit agreement with the same bank which matured on March 31,
    2004. *                                     291,121       292,507

    Notes payable, unsecured, to former preferred stockholders,
    with interest at 17%, due on demand. At December 31, 2004 and June 30, 2004,
    the Company was in
    default on these notes.                      60,774        61,774
                                             ------------  ------------

                                                856,277       808,433

    Less current portion                       (580,875)     (569,988)
                                             ------------  ------------
          Notes payable, excluding
          current portion                    $  275,402       238,445
                                             ============  ============
* The variable note payable to a bank was due in full at January 31, 2005. The
Company has not repaid the loan nor have we had any discussions with the bank
since early January. No demand for repayment has been made. It is the intention
of the Company to attempt to convert this loan to a term loan with a due date of
three to five years. There is no assurance that the bank will agree to such
terms in which case a near-term infusion of capital will be necessary to satisfy
this note. Since the Company needs additional financing to meet our debt
requirements, there is no assurance that we will be able to obtain such
financing on terms satisfactory to us, if at all. The effects on the financial
statements of not obtaining suitable financing cannot be determined.

Aggregate maturities of notes payable by year, net of discount amount of
$267,072, as of December 31, 2004, are as follows:

Years ending June 30:
  2005                        $  414,905
  2006                           364,462
  2007                           343,982
                                -----------
                               1,123,349
 Less unaccreted discount on
 Bridge Note                     267,072
                                -----------
 Net maturities               $  856,277

The carrying values of notes payable approximate fair value based on their terms
and floating market based interest rates.

As described in Note 1, on March 24, 2004, Genesis advanced $500,000 to
Corgenix, which is represented by the Bridge Note. As a result of the
termination of the Merger Agreement, the note has converted to a fixed two-year
term note bearing interest at the prime rate in effect as of the date of
termination of the Merger Agreement, or 5.25%. The note is fully-amortized over
four semi-annual payments of principal and accrued interest, with the first
payment expected to be due six months after the January 14, 2005 merger
termination date; however, the note is convertible, at the election of Genesis,
into Corgenix common stock at a conversion price of $.568 per share. The market
value of the Company's stock was in excess of the potential conversion price at
the date the note was executed, resulting in a beneficial conversion feature of
approximately $660,000. As required by Emerging Issues Task Force Bulletin 98-5,
"Accounting for Convertible Securities with Beneficial Conversion Features of
Contingently Adjustable Conversion Ratios" and 00-27, "Application of Issue 98-5
to Certain Convertible Instruments", the entire proceeds of the Bridge Note were
credited to additional paid-in capital. The Bridge Note was recorded net of a
$500,000 discount, which is being accreted to interest expense over the expected
term of the Bridge Note, using the effective interest method.






























                                     Item 2.




                          CORGENIX MEDICAL CORPORATION
                    Management's Discussion and Analysis of
                 Financial Condition and Results of Operations



       The following discussion should be read in conjunction with the
consolidated financial statements and accompanying notes included elsewhere
herein.


      General


      Since the Company's inception, we have been primarily involved in the
research, development, manufacturing and marketing/distribution of diagnostic
tests for sale to clinical laboratories. We currently market 90 products
covering autoimmune disorders, cardiovascular diseases, and liver disease. Our
products are sold in the United States, the UK and other countries through our
marketing and sales organization that include contract sales representatives,
internationally through an extensive distributor network, and to several
significant OEM partners.

      We manufacture products for inventory based upon expected sales demand,
shipping products to customers, usually within 24 hours of receipt of orders if
in stock. Accordingly, we do not usually operate with a customer order backlog.

      Except for the fiscal year ending June 30, 1997, we have experienced
annual revenue growth since our inception, primarily from sales of products and
contract revenues from strategic partners. Contract revenues consist of service
fees from research and development agreements with strategic partners.

      Beginning in fiscal year 1996, we began adding third-party OEM licensed
products to our diagnostic product line. Currently we sell 70 products licensed
from or manufactured by third party manufacturers. We expect to expand our
relationships with other companies in the future to gain access to additional
products.

      Although we have experienced growth in revenues every year since 1990,
except for 1997, there can be no assurance that, in the future, we will sustain
revenue growth, current revenue levels, or achieve or maintain profitability.
Our results of operations may fluctuate significantly from period-to-period as
the result of several factors, including: (i) whether and when new products are
successfully developed and introduced, (ii) market acceptance of current or new
products, (iii) seasonal customer demand, (iv) whether and when we receive
research and development payments from strategic partners, (v) changes in
reimbursement policies for the products that we sell, (vi) competitive pressures
on average selling prices for the products that we sell, and (vii) changes in
the mix of products that we sell.

      Critical Accounting Policies

      The Company's consolidated financial statements are prepared in accordance
with accounting principles generally accepted in the United States ("GAAP") and
our significant accounting policies are summarized in Note 1 to the accompanying
consolidated financial statements. The preparation of financial statements in
conformity with GAAP requires management to make estimates and assumptions that
affect reported amounts of assets, liabilities, disclosure of contingent assets
and liabilities at the date of the financial statements and reported amounts of
revenues and expenses during the reporting period. Actual results could differ
significantly from those estimates.

      The Company maintains an allowance for doubtful accounts based on its
historical experience and provides for any specific collection issues that are
identified. Such allowances have historically been adequate to provide for our
doubtful accounts but involve a significant degree of management judgment and
estimation. Worse than expected future economic conditions, unknown customer
credit problems and other factors may require additional allowances for doubtful
accounts to be provided for in future periods. Equipment and software are
recorded at cost. Equipment under capital leases is recorded initially at the
present value of the minimum lease payments. Depreciation and amortization is
calculated primarily using the straight-line method over the estimated useful
lives of the respective assets that range from 3 to 7 years. The internal and
external costs of developing and enhancing software costs related to website
development, other than initial design and other costs incurred during the
preliminary project stage, are capitalized until the software has been
completed. Such capitalized amounts began to be amortized commencing when the
website was placed in service on a straight-line basis over a three-year period.
When assets are sold, retired or otherwise disposed of, the cost and related
accumulated depreciation are eliminated from the accounts and a gain or loss is
recognized. Repair and maintenance costs are expensed as incurred. We evaluate
the realizability of our long-lived assets, including property and equipment,
whenever events or changes in circumstances indicate that the carrying amount of
an asset may not be recoverable. Revenue from sale of products is recognized
upon shipment of products. Revenue from research and development contracts
represents amounts earned pursuant to agreements to perform research and
development activities for third parties and is recognized as earned under the
respective agreement. Because research and development services are provided
evenly over the contract period, revenue is recognized ratably over the contract
period. Research and development agreements in effect in 2004 and 2003 provided
for fees to the Company based on time and materials in exchange for performing
specified research and development functions. Research and development and
advertising costs are expensed when incurred. Inventories are recorded at the
lower of cost or market, using the first-in, first-out method.

      Results of Operations


       Three Months Ended December 31, 2004 compared to 2003

      Net sales. Net sales for the quarter ended December 31, 2004 were
approximately $1,277,000, a 7.6% increase from approximately $1,187,000 for the
quarter ended December 31, 2003. Domestic sales decreased 1.8% while sales to
international distributors increased 40.4% from year to year. With respect to
the Company's major product lines, Phospholipids kit sales increased 5.2% for
the fiscal quarter, Coagulation kit sales increased 12.2 %, HA kit sales
decreased 19.4%, primarily due to the timing of orders, and Autoimmune kit sales
increased 125.7%. Additionally, OEM sales increased 12.7%. Sales of products
manufactured for us by other companies while still relatively small, are
expected to continue to increase during fiscal 2005.

      Cost of sales. Cost of sales, as a percentage of sales, decreased slightly
to 35.3% in the quarter ended December 31, 2004 from 37.6% in 2003 primarily due
to manufacturing efficiencies which offset higher raw material costs associated
with the new manufacturing format of the Company's main product line and the
purchase of certain raw materials which were formerly manufactured in-house. In
addition, there was a decrease in scrap costs during the quarter.

      Selling and marketing. Selling and marketing expenses increased 8.5% to
approximately $369,000 in the quarter ended December 31, 2004 from approximately
$340,000 in 2003. The majority of this increase involved increases in
advertising, CE Marking expense, conventions and seminars, labor-related costs
and other promotion related expenses .

      Research and development. Research and development expenses decreased
23.6% to approximately $139,000 in the quarter ended December 31, 2004 from
approximately $182,000 for the quarter ended December 31, 2003. The majority of
this decrease involved reductions in labor-related costs, consulting and
laboratory supplies resulting from recently ended development projects and
head-count reductions.

      General and administrative. General and administrative expenses increased
approximately $64,000 or 23.7% to approximately $334,000 in the quarter ended
December 31, 2004 from approximately $270,000 for the quarter ended December 31,
2003, primarily due to increases in merger-related expenses, outside services,
and equipment lease expense.

  Interest expense. As mentioned in the Notes to Consolidated Financial
Statements, the market value of the Company's stock had increased from the date
of the letter of intent to the date the Bridge Note was executed, resulting in a
beneficial conversion feature that was credited to equity, and an equal amount
is being recognized as interest expense over the potential term of the Bridge
Note, using the effective interest method. Interest expense increased 273.9% to
approximately $86,000 in the quarter ended December 31, 2004 from approximately
$23,000 for the quarter ended December 31, 2003 due primarily to the accretion
of discount on the Bridge Note payable to Genesis.

      Accretion of discount on redeemable common stock. This item represents the
accretion of the discount on redeemable common stock over the 33 month period
from the date the stock was issued to the presently expected first date on which
the related embedded put option may be exercised. The redeemable common stock
was issued in July 2002.

      Six Months Ended December 31, 2004 and 2003

      Net sales Net sales for the six months ended December 31, 2004 were
approximately $2,580,000, an 8.0% increase from approximately $2,389,000 for the
six months ended December 31, 2003. Domestic sales increased 1.5% while sales to
international distributors increased 30.3% from year to year. With respect to
the Company's major product lines, Phospholipids kit sales increased 2.7% for
the current six month period, Coagulation kit sales increased 34.5 %, HA kit
sales increased 23.3%, and Autoimmune kit sales increased 70.6%. Additionally,
OEM sales decreased less than 1%. Sales of products manufactured for us by other
companies while still relatively small, are expected to continue to increase
during fiscal 2005.

      Cost of sales. Cost of sales, as a percentage of sales, increased slightly
to 39.1% in the six months ended December 31, 2004 from 38.4% in 2003 primarily
due to higher raw material costs associated with the new manufacturing format of
the Company's main product line, the purchase of certain raw materials which
were formerly manufactured in-house and an increase in scrap costs during the
first fiscal quarter.

      Selling and marketing. Selling and marketing expenses increased 13.8% to
approximately $744,000 in the six months ended December 31, 2004 from
approximately $654,000 in 2003. The majority of this increase involved increases
in advertising, CE Marking expenses, conventions and seminars, labor-related
costs and other promotion related expenses.

      Research and development. Research and development expenses decreased
20.3% to approximately $295,000 in the six months ended December 31, 2004 from
approximately $370,000 for the six months ended December 31, 2003. The majority
of this decrease involved reductions in labor-related costs, consulting and
laboratory supplies resulting from recently ended development projects and
head-count reductions.

      General and administrative. General and administrative expenses increased
approximately $93,500 or 17.4% to approximately $634,000 in the six months ended
December 31, 2004 from approximately $540,000 for the six months ended December
31, 2003, primarily due to increases in merger-related expenses, outside
services and equipment lease expense.

      Interest expense. Interest expense increased 295.8% to approximately
$190,000 in the six months ended December 31, 2004 from approximately $48,000
for the six months ended December 31, 2003 due primarily to the accretion of
discount on the Bridge Note payable to Genesis.

      Liquidity and Capital Resources

      The Company has $425,295 of cash at December 31, 2004 compared to $255,223
at December 31, 2003 and has not repaid a loan of $291,121 due on January 31,
2005. Cash provided by operating activities was $91,943 for the six months ended
December 31, 2004 compared to cash used in operating activities of $98,608
during the prior year's comparable period. This change compared to the year
earlier period resulted primarily from a decrease in accounts receivable and an
increase in accounts payable partially offset by an increase in inventories. The
Company believes that uncollectible accounts receivable will not have a
significant effect on future liquidity, as a significant portion of its accounts
receivable are due from financially sound enterprises.

      Net cash used in investing activities, the purchase of equipment, was
$12,635 in the six months ended December 31, 2004 compared to $5,809 for the
year earlier period. The increase was mainly attributable to increased spending
on refrigeration and manufacturing equipment and computers.

      Net cash used in financing activities amounted to $131,043 during the six
months ended December 31, 2004 compared to cash provided by financing activities
of $28,399 for the year earlier period. This change compared to the year earlier
period was primarily due to a substantial decrease in the proceeds from notes
payable as a result of the Company's reduced borrowing capacity pursuant to
restrictions imposed by its existing bank loan agreements.

      Historically, we have financed our operations primarily through long-term
debt and by sales of common and preferred stock. Other than sales of stock to
our employees through our Employee Stock Purchase Plan, no common or preferred
stock was sold in the six month periods ended December 31, 2004 or 2003.

      We have also financed operations through sales of diagnostic products and
agreements with strategic partners. Accounts receivable decreased 6.5% to
$779,547 at December 31, 2004 from $834,153 at December 31, 2003 primarily as a
result the accelerated collection of certain accounts.

Our future capital requirements will depend on a number of factors, including
the ability to complete new equity or debt financing, the possible redemption of
common stock, our profitability or lack thereof, the rate at which we grow our
business and our investment in proprietary research activities, the ability of
our current and future strategic partners to fund outside research and
development activities, our success in increasing sales of both existing and new
products and collaborations, expenses associated with unforeseen litigation,
regulatory changes, competition, technological developments, general economic
conditions and potential future merger and acquisition activity. Our principal
sources of liquidity have been, cash raised from the private sale of redeemable
common and common stock, the Bridge Note from Genesis, and long-term debt
financing. Since the Takeout Financing and the planned merger with Genesis did
not occur, and if we are required to repurchase our redeemable common stock or
repay our variable rate bank note, we will need to implement new expense
reductions and seek new debt agreements and/or sell additional equity securities
in fiscal year 2005 to generate additional operating capital, to develop the
markets and obtain the regulatory approvals for our products in the United
States, and to pursue all of our strategic objectives. As a result, the Company
announced in January 2005 the engagement of Ascendiant Securities for investment
banking services. Specifically, Ascendiant and the Company will explore the
possibility of completing an institutional private placement of the Company's
common or preferred stock. The variable note payable to a bank was due in full
at January 31, 2005. The Company has not repaid the loan nor have we had any
discussions with the bank since early January. It is the intention of the
Company to attempt to convert this loan to a term loan with a due date of three
to five years. There is no assurance that the bank will agree to such terms in
which case a near-term infusion of capital will be necessary to satisfy this
note. Since the Company needs additional financing to meet our debt
requirements, there is no assurance that we will be able to obtain such
financing on terms satisfactory to us, if at all. Alternatively, any additional
equity financing may be dilutive to existing stockholders, and debt financing,
if available, may include restrictive covenants. If adequate funds are not
available, we might be required to limit our research and development activities
or our selling, marketing and administrative activities any of which could have
a material adverse effect on the future of the business. We believe that our
current availability of cash, working capital, future proceeds from the issuance
of common or preferred stock and debt financing and expected cash flows from
operations resulting from, if necessary, further expense reductions, will be
adequate to meet our ongoing needs for at least the next twelve months.
Management believes that the successful completion of an equity or debt
financing, referred to above, will be necessary to meet the Company's expected
debt service. However, as stated above, additional financing cannot be assured.
The effects on the financial statements of not obtaining suitable financing
cannot be determined.

Certain of the notes payable restrict the payment of dividends on the Company's
common stock. Notes payable consist of the following at December 31, 2004 and
June 30, 2004:


                                              December 31,    June 30,
                                                 2004            2004
                                             ------------    ------------

    Bridge Note payable to
    Genesis Bioventures,Inc., net of
    discount of $267,072 and $415,199.
    See discussion of terms below.          $  202,928         84,801

    Note payable to a bank, with interest at prime plus 2.75%
    (7.0% at June 30, 2004), due in monthly installments of principal and
    interest of $13,369 through January 2007, collateralized by commercial
    security agreements and a key man
    life insurance policy.                     301,454        369,351

    Variable Rate Loan payable to a bank, with interest at prime plus 1.0%
    (minimum rate of 5.5%), due in monthly installments of principal and
    interest through January 2005. This loan payable is collateralized by
    accounts receivable and inventory and is an extension and conversion of a
    revolving credit agreement with the same bank which matured on
    March 31, 2004. *                          291,121        292,507

    Notes payable, unsecured, to former preferred stockholders,
    with interest at 17%, due on demand. At December 31, 2004 and June 30, 2004,
    the Company was in
    default on these notes.                    60,774        61,774
                                            ------------  ------------
                                              856,277       808,433

    Less current portion                     (580,875)     (569,988)
                                             ------------  ------------
          Notes payable, excluding
          current portion                  $  275,402       238,445
                                            ============  ============
* The variable note payable to a bank was due in full at January 31, 2005. The
Company has not repaid the loan nor have we had any discussions with the bank
since early January. No demand for repayment has been made. It is the intention
of the Company to attempt to convert this loan to a term loan with a due date of
three to five years. There is no assurance that the bank will agree to such
terms in which case a near-term infusion of capital will be necessary to satisfy
this note. Since the Company needs additional financing to meet our debt
requirements, there is no assurance that we will be able to obtain such
financing on terms satisfactory to us, if at all. The effects on the financial
statements of not obtaining suitable financing cannot be determined.

Aggregate maturities of notes payable by year, net of discount amount of
$267,072 as of December 31, 2004, are as follows:

Years ending June 30:
  2005                        $  414,905
  2006                           364,462
  2007                           343,982
                                -----------
                               1,123,349
 Less unaccreted discount on
 Bridge Note                     267,072
                               -----------
 Net maturities               $  856,277

The carrying values of notes payable approximate fair value based on their terms
and floating market based interest rates.

      As described in Note 1, On March 24, 2004, Genesis advanced $500,000 to
Corgenix, which is represented by the Bridge Note. As a result of the
termination of the Merger Agreement, the note has converted to a fixed two-year
term note bearing interest at the prime rate in effect as of the date of
termination of the Merger Agreement, or 5.25%. The note is fully-amortized over
four semi-annual payments of principal and accrued interest, with the first
payment expected to be due six months after the January 31, 2004 merger
termination date; however, the note is convertible, at the election of Genesis,
into Corgenix common stock at a conversion price of $.568 per share. On January
14, 2005 Corgenix terminated the Amended and Restated Agreement and Plan of
Merger with Genesis Bioventures, Inc. due to the lack of progress towards the
completion of the $6,000,000 merger-related financing and the expiration of key
dates within the Merger Agreement (as amended). The termination of the Agreement
is not a breach by either party, thus no penalty for termination of the merger
will apply. The market value of the Company's stock was in excess of the
potential conversion price at the date the note was executed, resulting in a
beneficial conversion feature of approximately $660,000. As required by Emerging
Issues Task Force Bulletin 98-5, the entire proceeds of the Bridge Note were
credited to additional paid-in capital. The Bridge Note was recorded net of a
$500,000 discount, which is being accreted to interest expense over the expected
term of the Bridge Note, using the effective interest method.
                                       Item 3.

                               Controls and Procedures

          Evaluation of disclosure controls and procedures. The Company, under
the supervision and with the participation of the Company's management,
including its Chief Executive Officer and Chief Financial Officer, on February
8, 2005 (the "Evaluation Date") carried out an evaluation of the effectiveness
of the design and operation of the Company's disclosure controls and procedures
(as defined in Rules 240.13a-14(c) and 15d-14(c) under the Securities Exchange
Act of 1934 (the "Exchange Act"). Based upon this evaluation, the Chief
Executive Officer and Chief Financial Officer concluded that, as of the
Evaluation Date, the Company's disclosure controls and procedures were effective
for the purposes of recording, processing, summarizing and timely reporting
information required to be disclosed by the Company in the reports that it files
under the Securities Exchange Act of 1934 and that such information is
accumulated and communicated to the Company's management in order to allow
timely decisions regarding required disclosure.

          Changes in internal controls. There have been no significant changes
in the Company's internal controls or in other factors that could significantly
affect the Company's disclosure controls and procedures subsequent to the
Evaluation Date, nor were there any significant deficiencies or material
weaknesses in the Company's internal controls.

      Forward-Looking Statements and Risk Factors

      This 10-QSB includes statements that are not purely historical and are
"forward-looking statements" within the meaning of Section 21E of the Securities
Act of 1934, as amended, including statements regarding our expectations,
beliefs, intentions or strategies regarding the future. All statements other
than historical fact contained in this 10-QSB, including, without limitation,
statements regarding future product developments, acquisition strategies,
strategic partnership expectations, technological developments, the availability
of necessary components, research and development programs and distribution
plans, are forward-looking statements. All forward-looking statements included
in this 10-QSB are based on information available to us on the date hereof, and
we assume no obligation to update such forward-looking statements. Although we
believe that the assumptions and expectations reflected in such forward-looking
statements are reasonable, we can give no assurance that such expectations will
prove to have been correct or that we will take any actions that may presently
be planned.

      Certain factors that could cause actual results to differ materially from
those expected include the following:

      Merger-related charges were incurred.

       Corgenix estimates that, in pursuing the proposed merger with Genesis,
the company has thus far incurred approximately $100,000 in certain
merger-related expenses consisting of legal, accounting fees, valuation, and
other related charges. The foregoing amounts are preliminary estimates and the
actual amounts may be higher or lower. In addition, these merger-related
expenses are, per agreement with Genesis, to be shared equally with Genesis and
thus, approximately half of said expenses would be reimbursed by Genesis or
offset against the Bridge Note. Corgenix and Genesis are currently discussing
the details of such expense sharing and the management of Corgenix expects that
the amounts due from Genesis will be offset against the amount due on the Bridge
Note.

      We continue to incur losses and the Company requires additional financing.

We have incurred operating losses and negative cash flow from operations for
most of our history. Losses incurred since our inception have aggregated
$5,189,125 and there can be no assurance that we will be able to generate
positive cash flows or raise the necessary capital to fund our operations in the
future or to pursue our strategic objectives. The variable note payable to a
bank was due in full at January 31, 2005. The Company has not repaid the loan
nor have we had any discussions with the bank since early January. It is the
intention of the Company to attempt to convert this loan to a term loan with a
due date of three to five years. There is no assurance that the bank will agree
to such terms in which case a near-term infusion of capital will be necessary to
satisfy this note. We believe that our current availability of cash, working
capital, future proceeds from the issuance of common or preferred stock and debt
financing and expected cash flows from operations resulting from, if necessary,
further expense reductions, will be adequate to meet our ongoing needs for at
least the next twelve months. Since the Company needs additional financing to
meet our debt requirements, there is no assurance that we will be able to obtain
such financing on terms satisfactory to us, if at all. Alternatively, any
additional equity financing may be dilutive to existing stockholders, and debt
financing, if available, may include restrictive covenants. If adequate funds
are not available, we might be required to limit our research and development
activities or our selling, marketing and administrative activities any of which
could have a material adverse effect on the future of the business. The effects
of such actions on our financial statements cannot be determined.

      We depend upon collaborative relationships and third parties for product
      development and commercialization.

      We have historically entered into research and development agreements with
collaborative partners, from which we derived revenues in past years. Pursuant
to these agreements, our collaborative partners have specific responsibilities
for the costs of development, promotion, regulatory approval and/or sale of our
products. We will continue to rely on future collaborative partners for the
development of products and technologies. There can be no assurance that we will
be able to negotiate such collaborative arrangements on acceptable terms, if at
all, or that current or future collaborative arrangements will be successful. To
the extent that we are not able to establish such arrangements, we could be
forced to undertake such activities at our own expense. The amount and timing of
resources that any of these partners devotes to these activities will generally
be based on progress by us in our product development efforts. Collaborative
arrangements may be terminated by the partner upon prior notice without cause
and there can be no assurance that any of these partners will perform its
contractual obligations or that it will not terminate its agreement. With
respect to any products manufactured by third parties, there can be no assurance
that any third-party manufacturer will perform acceptably or that failures by
third parties will not delay clinical trials or the submission of products for
regulatory approval or impair our ability to deliver products on a timely basis.

      There can be no assurance of successful or timely development of
additional products.

      Our business strategy includes the development of additional diagnostic
products for the diagnostic business. Our success in developing new products
will depend on our ability to achieve scientific and technological advances and
to translate these advances into commercially competitive products on a timely
basis. Development of new products requires significant research, development
and testing efforts. We have limited resources to devote to the development of
products and, consequently, a delay in the development of one product or the use
of resources for product development efforts that prove unsuccessful may delay
or jeopardize the development of other products. Any delay in the development,
introduction and marketing of future products could result in such products
being marketed at a time when their cost and performance characteristics would
not enable them to compete effectively in their respective markets. If we are
unable, for technological or other reasons, to complete the development and
introduction of any new product or if any new product is not approved or cleared
for marketing or does not achieve a significant level of market acceptance, our
ability to remain competitive in our product niches would be impaired.

      Competition in the human medical diagnostics industry is, and is expected
      to remain, significant.

      Our competitors range from development stage diagnostics companies to
major domestic and international pharmaceutical companies. Many of these
companies have financial, technical, marketing, sales, manufacturing,
distribution and other resources significantly greater than ours. In addition,
many of these companies have name recognition, established positions in the
market and long standing relationships with customers and distributors.
Moreover, the diagnostics industry has recently experienced a period of
consolidation, during which many of the large domestic and international
pharmaceutical companies have been acquiring mid-sized diagnostics companies,
further increasing the concentration of resources. There can be no assurance
that technologies will not be introduced that could be directly competitive with
or superior to our technologies.

           Our products and  activities  are subject to  regulation  by various
      governments and government agencies.
      The  testing,  manufacture  and  sale  of  our  products  is  subject  to
regulation by numerous governmental authorities, principally the United States
Food and Drug Administration, referred to as the FDA, and certain foreign
regulatory agencies. Pursuant to the Federal Food, Drug, and Cosmetic Act, and
the regulations promulgated there under, the FDA regulates the preclinical and
clinical testing, manufacture, labeling, distribution and promotion of medical
devices. We are limited in our ability to commence marketing or commercial sales
in the United States of new products under development until we receive
clearance from the FDA. The testing for, preparation of and subsequent FDA
regulatory review of required filings can be a lengthy, expensive and uncertain
process. Noncompliance with applicable requirements can result in, among other
consequences, fines, injunctions, civil penalties, recall or seizure of
products, repair, replacement or refund of the cost of products, total or
partial suspension of production, failure of the government to grant pre-market
clearance or pre-market approval for devices, withdrawal of marketing clearances
or approvals, and criminal prosecution.

      There can be no assurance that we will be able to obtain necessary
regulatory approvals or clearances for our products on a timely basis, if at
all, and delays in receipt of or failure to receive such approvals or
clearances, the loss of previously received approvals or clearances, limitations
on intended use imposed as a condition of such approvals or clearances or
failure to comply with existing or future regulatory requirements could
negatively impact our sales and thus have a material adverse effect on our
business.

      As a manufacturer of medical devices for marketing in the United States,
we are required to adhere to applicable regulations setting forth detailed good
manufacturing practice requirements, which include testing, control and
documentation requirements. We must also comply with Medical Device Report (MDR)
requirements, which require that a manufacturer reports to the FDA any incident
in which its product may have caused or contributed to a death or serious
injury, or in which its product malfunctioned and, if the malfunction were to
recur, it would be likely to cause or contribute to a death or serious injury.
We are also subject to routine inspection by the FDA for compliance with Quality
System Regulations (QSR) requirements, MDR requirements and other applicable
regulations. Labeling and promotional activities are subject to scrutiny by the
FDA and, in certain circumstances, by the Federal Trade Commission. We may incur
significant costs to comply with laws and regulations in the future, which would
decrease our net income or increase our net loss and thus have a potentially
material adverse effect upon our business, financial conditions and results of
operations.

      Distribution of diagnostic products outside the United States is subject
to extensive foreign government regulation. These regulations, including the
requirements for approvals or clearance to market, the time required for
regulatory review and the sanctions imposed for violations, vary from country to
country. We may be required to incur significant costs in obtaining or
maintaining foreign regulatory approvals. In addition, the export of certain of
our products that have not yet been cleared for domestic commercial distribution
may be subject to FDA export restrictions. Failure to obtain necessary
regulatory approval or the failure to comply with regulatory requirements could
reduce our product sales and thus have a potentially material adverse effect on
our business, financial condition and results of operations.

      We depend upon distribution partners for sales of diagnostic products in
international markets.

      We have entered into distribution agreements with collaborative partners
in which we have granted distribution rights for certain of our products to
these partners within specific international geographic areas. Pursuant to these
agreements, our collaborative partners have certain responsibilities for market
development, promotion, and sales of the products. If any of these partners
fails to perform its contractual obligations or terminates its agreement, this
could have a reduce our sales and cash flow and thus have a potentially material
adverse effect on our business, financial condition and results of operations.

      Third party reimbursement for purchases of our diagnostic products is
      uncertain.

      In the United States, health care providers that purchase diagnostic
products, such as hospitals and physicians, generally rely on third party
payers, principally private health insurance plans, federal Medicare and state
Medicaid, to reimburse all or part of the cost of the purchase. Third party
payers are increasingly scrutinizing and challenging the prices charged for
medical products and services and they can affect the pricing or the relative
attractiveness of the product. Decreases in reimbursement amounts for tests
performed using our diagnostic products, failure by physicians and other users
to obtain reimbursement from third party payers, or changes in government and
private third party payers' policies regarding reimbursement of tests utilizing
diagnostic products, may affect our ability to sell our diagnostic products
profitably. Market acceptance of our products in international markets is also
dependent, in part, upon the availability of reimbursement within prevailing
health care payment systems.

      Our success depends, in part, on our ability to obtain patents and license
      patent rights, to maintain trade secret protection and to operate without
      infringing on the proprietary rights of others.

      There can be no assurance that our issued patent will afford meaningful
protection against a competitor, or that patents issued or assigned to us will
not be infringed upon or designed around by others, or that others will not
obtain patents that we would need to license or design around. We could incur
substantial costs in defending the Company or our licensees in litigation
brought by others. The potential for reduced sales and increased legal expenses
would have a negative impact on our cash flow and thus our overall business
could be adversely affected.

      We may not be able to successfully implement our plans to acquire other
      companies or technologies.

      Our growth strategy may include the acquisition of complementary
companies, products or technologies. There is no assurance that we will be able
to identify appropriate companies or technologies to be acquired, to negotiate
satisfactory terms for such an acquisition, or to obtain sufficient capital to
make such acquisitions. Moreover, because of limited cash resources, we will be
unable to acquire any significant companies or technologies for cash and our
ability to effect acquisitions in exchange for our capital stock may depend upon
the market prices for our common stock, which could result in significant
dilution to its existing stockholders. If we do complete one or more
acquisitions, a number of risks arise, such as disruption of our existing
business, short-term negative effects on our reported operating results,
diversion of management's attention, unanticipated problems or legal
liabilities, and difficulties in the integration of potentially dissimilar
operations. Any of these factors could materially harm Corgenix's business or
its operating results.

      We depend on suppliers for our products' components.

      The components of our products include chemical and packaging supplies
that are generally available from several suppliers, except certain antibodies,
which we purchase from single suppliers. We mitigate the risk of a loss of
supply by maintaining a sufficient supply of such antibodies to ensure an
uninterrupted supply for at least three months. We have also qualified second
vendors for all critical raw materials and believe that we can substitute a new
supplier with respect to any of these components in a timely manner. If, for
some reason, we lose our main supplier for a given material, there can be no
assurances that we will be able to substitute a new supplier in a timely manner
and failure to do so could impair the manufacturing of certain of our products
and thus have a material adverse effect on our business, financial condition and
results of operations.

      We have only limited manufacturing experience with certain products.

      Although we have manufactured over twelve million diagnostic tests based
on our proprietary applications of ELISA (enzyme linked immuno-absorbent assay)
technology, certain of our diagnostic products in consideration for future
development, incorporate technologies with which we have limited manufacturing
experience. Assuming successful development and receipt of required regulatory
approvals, significant work may be required to scale up production for each new
product prior to such product's commercialization. There can be no assurance
that such work can be completed in a timely manner and that such new products
can be manufactured cost-effectively, to regulatory standards or in sufficient
volume.

      Due to the specialized nature of our business, our success will be highly
      dependent upon our ability to attract and retain qualified scientific and
      executive personnel.

      We believe our success will depend to a significant extent on the efforts
and abilities of Dr. Luis R. Lopez and Douglass T. Simpson, who would be
difficult to replace. There can be no assurance that we will be successful in
attracting and retaining such skilled personnel, who are generally in high
demand by other companies. The loss of, inability to attract, or poor
performance by key scientific and executive personnel may have a material
adverse effect on our business, financial condition and results of operations.

      The testing, manufacturing and marketing of medical diagnostic devices
      entails an inherent risk of product liability claims.

      To date, we have experienced no product liability claims, but any such
claims arising in the future could have a material adverse effect on our
business, financial condition and results of operations. Potential product
liability claims may exceed the amount of our insurance coverage or may be
excluded from coverage under the terms of our policy or limited by other claims
under our umbrella insurance policy. Additionally, there can be no assurance
that our existing insurance can be renewed by us at a cost and level of coverage
comparable to that presently in effect, if at all. In the event that we are held
liable for a claim against which we are not insured or for damages exceeding the
limits of our insurance coverage, such claim could have a material adverse
effect on our cash flow and thus potentially a materially adverse effect on our
business, financial condition and results of operations.

      There has, to date, been no active public market for our common stock, and
      there can be no assurance that an active public market will develop or be
      sustained.

      Although our common stock has been traded on the OTC Bulletin Board(R)
since May 1998, the trading has been sporadic with insignificant volume.

      Moreover, the over-the-counter markets for securities of very small
companies historically have experienced extreme price and volume fluctuations.
These broad market fluctuations and other factors, such as new product
developments, trends in our industry, the investment markets, economic
conditions generally, and quarterly variation in our results of operations, may
adversely affect the market price of our common stock. In addition, our common
stock is subject to rules adopted by the Securities and Exchange Commission
regulating broker-dealer practices in connection with transactions in "penny
stocks." Such rules require the delivery prior to any penny stock transaction of
a disclosure schedule explaining the penny stock market and all associated risks
and impose various sales practice requirements on broker-dealers who sell penny
stocks to persons other than established customers and accredited investors,
which are generally defined as institutions or an investor with a net worth in
excess of $1,000,000 or annual income exceeding $200,000 or $300,000 together
with the spouse. For these types of transactions the broker-dealer must make a
special suitability determination for the purchaser and have received the
purchaser's written consent to the transaction prior to sale. The additional
burdens imposed upon broker-dealers by such requirements may discourage
broker-dealers from effecting transactions in securities subject to the penny
stock rules.

      There are risks associated with fluctuating exchange rates.

   Our financial statements are presented in US dollars. At the end of each
fiscal quarter and the fiscal year, we convert the financial statements of
Corgenix UK, which operates in pounds sterling, into US dollars, and consolidate
them with results from Corgenix, Inc. We may, from time to time, also need to
exchange currency from income generated by Corgenix UK. Foreign exchange rates
are volatile and can change in an unknown and unpredictable fashion. Should the
foreign exchange rates change to levels different than anticipated by us, our
business, financial condition and results of operations may be adversely
affected.



<PAGE>


                          CORGENIX MEDICAL CORPORATION


                                     Part II


                                Other Information





Item 1.    Legal Proceedings


      None.


Item 2.    Changes in Securities and Use of Proceeds


       None

Item 3.    Defaults Upon Senior Securities


      None


Item 4.    Submission of Matters to a Vote of Security Holders


      None


Item 5.    Other Information


      None

Item 6.  Exhibits and Reports on Form 8-K.

a. Index to and Description of Exhibits


Exhibit
Number   Description of Exhibit

2.1      Agreement and Plan of Merger dated as of March 12, 2004 by
         and among Genesis Bioventures, Inc., GBI Acquisition
         Corporation and Corgenix Medical Corporation.
2.2      Amended and Restated Agreement and Plan of Merger as of
         May 21, 2004 by and among Genesis Bioventures, Inc., GBI
         Acquisition Corporation and Corgenix Medical Corporation.
2.3      Amendment No. 1 to Amended and Restated Agreement and Plan
         of Merger as of October 15, 2004 by and among Genesis
         Bioventures, Inc., GBI Acquisition Corporation and
         Corgenix Medical Corporation.
2.4      Amendment No. 2 to Amended and Restated Agreement and Plan
         of Merger as of November 30, 2004 by and among Genesis
         Bioventures, Inc., GBI Acquisition Corporation and
         Corgenix Medical Corporation.
2.5      Amendment No. 3 to Amended and Restated Agreement and Plan
         of Merger as of December 9, 2004 by and among Genesis
         Bioventures, Inc., GBI Acquisition Corporation and
         Corgenix Medical Corporation.
2.6      Amendment No. 4 to Amended and Restated Agreement and Plan
         of Merger as of December 31, 2004 by and among Genesis
         Bioventures, Inc., GBI Acquisition Corporation and
         Corgenix Medical Corporation.
3.1      Articles of Incorporation, as amended (filed with the Company's
         Registration Statement on Form 10-SB filed June 29, 1998, and
         incorporated herein by reference).
3.2      Bylaws (filed with the Company's Registration Statement on Form 10-SB
         filed June 29, 1998, and incorporated herein by reference).

10.4     License Agreement dated June 30, 2001 between Chugai
         Diagnostic Science Co., Ltd. and Corgenix Medical
         Corporation (filed with the Company's Form 10-KSB, and
         incorporated herein by reference).

10.5     Office Lease dated May 5, 2001 between Crossroads West
         LLC/Decook Metrotech LLC and Corgenix, Inc. (filed with
         the Company's Form-10KSB, and incorporated herein by
         reference).
10.6     Guarantee dated November 1, 1997 between William George Fleming,
         Douglass Simpson and Geoffrey Vernon Callen (filed with the Company's
         Registration Statement on Form 10-SB filed June 29, 1998, and
         incorporated herein by reference).
10.7     Employment Agreement dated April 1, 2001 between Luis R. Lopez and the
         Company filed with the Company's Form 10-KSB, and incorporated herein
         by reference.

10.8     Employment Agreement dated April 1, 2001 between Douglass T. Simpson
         and the Company filed with the Company's Form 10-KSB, and incorporated
         herein by reference.
10.9     Employment Agreement dated April 1, 2001 between Ann L. Steinbarger and
         the Company filed with the Company's Form 10-KSB, and incorporated
         herein by reference.
10.10    Employment Agreement dated April 1, 2001 between Taryn G. Reynolds and
         the Company filed with the Company's Form 10-KSB, and incorporated
         herein by reference.
10.11    Employment Agreement dated April 1, 2001 between Catherine (O'Sullivan)
         Fink and the Company filed with the Company's Form 10-KSB, and
         incorporated herein by reference.
10.14    Note dated January 6, 1997 between REAADS Medical Products, Inc. and
         Eagle Bank (filed with the Company's Registration Statement on Form
         10-SB filed June 29, 1998, and incorporated herein by reference).
10.15    Form of Indemnification Agreement between the Company and its directors
         and officers (filed with the Company's Registration Statement on Form
         10-SB/A-1 filed September 24, 1998 and incorporated herein by
         reference).
10.16    Warrant agreement dated June 1, 2000 between the Company and Taryn G.
         Reynolds filed with the Company's Form 10-KSB, and incorporated herein
         by reference.
10.17    Employment Agreement dated March 1, 2001 between William H. Critchfield
         and the Company (filed with the Company's filing on Form 10-QSB for the
         fiscal quarter ended March 31, 2001).
10.19    Consulting Agreement dated September 29, 2002 between Eiji Matsuura,
         Ph.D and the Company filed with the Company's Form 10-QSB, and
         incorporated herein by reference.
10.20    License Agreement dated September 29, 2002 between Eiji Matsuura, Ph.D
         and the Company filed with the Company's Form 10-QSB, and incorporated
         herein by reference.
10.23    Amended and Restated 1999 Incentive Stock Plan.
10.24    Amended and Restated Employee Stock Purchase Plan.
10.28    Warrant Agreement dated October 11, 2001 between Phillips
         V. Bradford and the Company, filed with the Company's Form 10-QSB, and
         incorporated herein by reference.
10.29    Warrant Agreement dated October 11, 2001 between Charles F. Ferris and
         the Company filed with the Company's Form 10-QSB, and incorporated
         herein by reference.
10.30    Underlease Agreement dated October 3, 2001 between G.V. Callen, A.G.
         Pirmohamed and Corgenix UK, Ltd. filed with the Company's Form 10-QSB,
         and incorporated herein by reference.
10.31    Distribution and OEM Agreement dated March 14, 2002 between RhiGene,
         Inc. and the Company filed with the Company's Form 10-QSB, and
         incorporated herein by reference.
10.32*   License Agreement dated October 19, 2004 between McMaster
         University, Creative Clinical Concepts, Inc., and the
         Company.
21.1     Amended Subsidiaries of the Registrant (filed as Exhibit 21.1 to the
         Company's Registration Statement on Form 10-SB filed June 29, 1998).
31.1*    Certification pursuant to section 302 of the
         Sarbanes-Oxley Act of 2002.
31.2*    Certification pursuant to section 302 of the
         Sarbanes-Oxley Act of 2002
31.3*    Certification pursuant to section 302 of the
         Sarbanes-Oxley Act of 2002
32.1*    Certification by Chief Executive Officer pursuant to 18 U.S.C. Section
         1350, or adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
         2002.
32.2*    Certification by Principal Financial Officer pursuant to 18 U.S.C.
         Section 1350, or adopted pursuant to Section 906 of the Sarbanes-Oxley
         Act of 2002.
* Filed Herewith
---------------------------------------
(b)   Reports on Form 8-K.

           1. Form 8-K filed September 21, 2004 Entry into Material Definitive
           Agreement

           2. Form 8-K filed October 21, 2004 Entry into Material Definitive
           Agreement.

           3. Form 8-K filed January 4, 2005 Entry into Material Definitive
           Agreement.

           4. Form 8-K filed January 14, 2005 Termination of Material Definitive
           Agreement

           5. Form 8-K filed January 18, 2005 Termination of Material Definitive
           Agreement




<page>
                                                                 Exhibit 10.32

                                LICENSE AGREEMENT

This agreement (the "Agreement") is made the 19th day of October, 2004 (the
"Effective Date"), between MCMASTER UNIVERSITY, an institution with a principal
place of business at 1280 Main St. W. GH 306, Hamilton, Ontario L8S 4L8, Canada,
(herein called "McMaster"), CREATIVE CLINICAL CONCEPTS, INC (hereinafter called
"CCC"), a corporation with a principal place of business at 210 St. Paul Street,
Suite 200, Denver, Colorado 80206, U.S.A., and CORGENIX, INC. (hereinafter
called "Corgenix"), a corporation with a principal place of business at 12061
Tejon Street, Westminster, Colorado 80234, U.S.A.


WHEREAS, McMaster is the owner of the Technology (as defined herein below) and
has the exclusive right to license and sublicense the Technology in the
Territory (as defined herein below); and

WHEREAS, CCC is the owner of the trademark AspirinWorks(R); and

WHEREAS, Corgenix is engaged in the business of developing, securing regulatory
approval for, manufacturing, marketing and distributing diagnostic tests and
related products worldwide; and

WHEREAS, CCC and Corgenix (hereinafter called the "Licensees") wish to license
the Technology for the purpose of developing and commercializing products using
the Technology within the permitted Field-of-Use (as defined herein below),
subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter contained, the parties agree as follows:


                                                                     DEFINITIONS




"Confidential Information" means any part of the information which is designated
by McMaster as confidential, whether orally or in writing but excluding any part
of the Information: a) possessed by the Licensees prior to receipt from
McMaster, other than through prior disclosure by McMaster, as evidence by the
Licensees' business records; b) published or available to the general public
otherwise than through a breach of this Agreement; c) obtained by the Licensees
from a third party with a valid right to disclose it, provided that said third
party is not under a confidentiality obligation to McMaster; or d) independently
developed by employees, agents or consultants of the Licensees who had no
knowledge of or access to McMaster's Information as evidence by the Licensees'
business records.

"Date of First Commercial Sale" means the date on which Licensed Product from a
validated and verified lot manufactured according to Design Control (as defined
herein below), is first sold to a non-subsidiary third party.

"Design Control" means the Licensees' product development process according to
U.S. Code of Federal Regulations, Title 21, Part 820 - Quality System
Regulations for Medical Devices, 1997.

"Exchange Rate", unless otherwise specified, means the exchange rate from United
States Dollars to Canadian Dollars, or Canadian Dollars to United States Dollars
as published by the Canadian Imperial Bank of Commerce on the Effective Date.

"Field-of-Use" means healthcare screening.

"Future Patent Expenses" means all expenses incurred by McMaster in the filing
and prosecution of patents related to the Technology (defined below) after the
Effective Date.

"Improvements" means techniques or modifications related to the Patent Rights
(as defined herein below) or Technical Information Rights (as defined herein
below), developed or acquired by Licensees, whether patentable or unpatentable.

"Licensed Process" means any process or procedure that, but for the license
granted herein, would infringe either Technical Information Rights or one or
more claims in the Patent Rights.

"Licensed Products" means any product designed and developed by Licensees in the
Field-of-Use that (a) if made, used, offered for sale, sold, imported, leased or
otherwise disposed of in the Territory would, but for the license granted
herein, infringe the Technical Information Rights or more claims of the Patent
Rights, (b) is made by using Licensed Process, or (c) when used, practices
Licensed Processes.

"Net Sales" means the total invoice price charged by Licensees to non-subsidiary
third parties for the sale of the Licensed Products, less returns, freight
charges, insurance premium and customary trade discounts actually taken,
consumption tax or other taxes levied and customs duties.

"Patent Rights" means all rights of McMaster related to the Technology on the
Effective Date (attached hereto as Schedule B).

"Previously Incurred Patent Expenses" means all expenses incurred by McMaster in
the filing and prosecution of patents related to the Technology prior to the
Effective Date, and attached hereto as Schedule A.

"Technical Information Rights" means all the rights of McMaster in and to all
inventions, trade secrets, copyrights, research data, methods, processes,
know-how and other technical data related to the Technology, whether patentable
or not, whether owned by or licensed to McMaster, existing as of the Effective
Date.

"Technology" means all technology related to or associated with technology
generally referred to by McMaster as `Method and Device for Predicting
Cardiovascular Events' and as described in McMaster file # 03-036 (attached
hereto as Schedule C)

"Territory" means worldwide.


                                       LICENSE

1.    Grant.  Subject to the terms and conditions of this  Agreement,  McMaster
      ------
      hereby  grants to Licensees an exclusive  license under the Patent Rights
      and to the Technical  Information  Rights to make,  have made, use, offer
      to sell, sell,  import,  lease or otherwise dispose of Licensed Products,
      within the  Field-of-Use  and  Territory,  and to practice  the  Licensed
      Process in connection  with the design,  development  and  manufacture of
      the Licensed  Product during the term of this  Agreement.  Nothing herein
      shall prevent  McMaster or the inventors  from using the Patent Rights or
      Technical  Information Rights for further academic research and education
      purposes.  McMaster will retain the right to present and publish accounts
      of its  research  and all  information  relating to the Patent  Rights or
      Technical  Information Rights, with prior written consent of Licensees to
      prevent   the   premature   public   disclosure   of    commercializeable
      intellectual  property  or  disclosure  of  the  Licensees'  confidential
      information.


2.    Reserved  Rights.  Subject  to the  grant of the  exclusive  license  set
      -----------------
      forth above,  Licensees  acknowledge that McMaster retains any rights not
      expressly  granted to  Licensees  in Article 1 above,  including  without
      limitation   to  the  right  to  use  the  Patent  Rights  and  Technical
      Information Rights for research,  scholarly  publication,  education,  or
      other  non-commercial  purposes.  McMaster  will be free to  publish  the
      data and  results of any  research  projects  in  appropriate  scientific
      journals  after  providing a copy of the  manuscript to the Licensees and
      receiving  written  approval from the Licensees within sixty (60) days of
      manuscript  submission  to  the  Licensees,   such  approval  not  to  be
      unreasonably  withheld.  In publishing  research  results,  McMaster will
      undertake all reasonable measures to protect the commercial  potential of
      the  Technology  to ensure that the patent  interests of the Licensees or
      McMaster  are not  adversely  affected or  jeopardized.  If  requested in
      writing by the Licensees,  McMaster will defer  publication for a maximum
      period  of six  (6)  months  for the  purpose  of  obtaining  appropriate
      intellectual  property  protection.  Licensees shall not, at any time, do
      or  suffer  to be done any act or thing  which  may in any way  adversely
      affect any rights of  McMaster in and to the Patent  Rights or  Technical
      Information  Rights or any  registrations  thereof or which,  directly or
      indirectly,  may  reduce  the value of the  Patent  Rights  or  Technical
      Information Rights.

      McMaster retains the nonexclusive right to use of the Improvements for
      further non-commercial academic research and educational purposes. Details
      of any Improvements shall be reported to McMaster as provided in Article
      23(b).


3.    Sublicensing.  Licensees may sublicense  the rights  granted  pursuant to
      -------------
      this  Agreement  provided  that: (i) Licensees  obtain  McMaster's  prior
      written consent, which consent shall not be unreasonably  withheld;  (ii)
      McMaster shall receive such revenue or royalty  payment as is provided in
      Article 4 below;  and (iii) any such sublicense shall not derogate in any
      way the  obligations  of  Licensees  hereunder  and all such  sublicenses
      shall be granted on terms not any less  favorable  than are  contained in
      this  Agreement.  The parties  acknowledge  that  Licensees may choose to
      distribute Licensed Products through third party-contracted  distributors
      which shall not be deemed to be an assignment  or  sublicense  subject to
      this  provision  provided  such  distributors  are not using  the  Patent
      Rights or  Technical  Information  Rights to  manufacture  or modify  the
      Licensed Products.


4.      Payments. In consideration of the license herein granted, Licensees
        shall pay or cause to be paid McMaster:

(a)   An initial  licensing fee (the "Initial  License Fee")  consisting of (i)
                                      --------------------
        USD $5,000 cash,  (ii) two thousand  (2,000)  shares of common stock of
        CCC ("CCC  Common  Stock"),  and  (iii) a number of shares of  Corgenix
              ------------------
        Medical  Corporation  ("Corgenix Common Stock")  calculated by dividing
                                ---------------------
        USD $4,000 by the volume  weighted  average  price for the common stock
        of  Corgenix  Medical  Corporation  for the ten (10) days  prior to the
        Effective  Date.  The  Initial  Licensing  Fee,  including  issuance of
        appropriate  stock  certificates,  is payable  within  ninety (90) days
        following  execution  of this  Agreement.  The  Initial  License Fee is
        non-refundable  and is required to reimburse  McMaster for its costs of
        developing and licensing the Technology;

      (b) Royalties on Net Sales of Licensed Products sold by Licensees in the
        Territory, according to the following schedule:


|X|   5%  royalty  on Net  Sales  within  first  year  after  the Date of First
           Commercial Sale;

|X|   6%  royalty on Net Sales  within the second  year after the Date of First
           Commercial
           Sale;

o     7%  royalty  on Net Sales  within  the third year after the Date of First
           Commercial Sale;

o     8%  royalty on Net Sales  within the fourth  year after the Date of First
           Commercial Sale; and

o          9% royalty on Net Sales after the fourth year after the Date of First
           Commercial Sale.


      Where Licensed Products are not sold separately, but are sold in
combination with or as parts or components of other products, the royalties on
the Licensed Products shall be calculated for the purpose of computing payments
due under this Agreement by applying to the royalty of the combined or composite
products a fractional multiplier having as its numerator the manufacturing cost
(the "Licensed Product Manufacturing Cost") of the Licensed Product, and as it's
the denominator the total manufacturing cost of the combined or composite
products (determined in accordance with the Licensee's customary accounting
procedures) including the Licensed Product.

      Minimum annual royalties shall be paid by Licensees to McMaster, such
      minimum royalty payments shall be non-refundable except that the amount by
      which the minimum royalty exceeds the royalties calculated pursuant to
      Article 4(b) above in that year shall be credited against such royalties
      in the subsequent year. Minimum annual royalties shall be paid according
      to the following schedule, based on the Date of First Commercial Sale:

o     Minimum annual  royalties of USD $750 in the first year after the Date of
           First Commercial Sale;

o     Minimum annual  royalties of USD $3,000 in the second year after the Date
           of First Commercial Sale;

o     Minimum  annual  royalties of USD $7,000 in the third year after the Date
           of First Commercial Sale;

o     Minimum  annual  royalties  of USD  $24,000 in the fourth  year after the
           Date of First Commercial Sale; and

o          Minimum annual royalties of USD $45,000 in the fifth year after the
           Date of First Commercial Sale and each year thereafter.

      The minimum annual royalties shall not exceed USD $7,000 per year until
      which time McMaster has received allowance for either a) Patent
      Application No. 1 or b) Patent Application No. 3, as defined in the Patent
      Rights in Schedule B.

      Royalties payable to McMaster hereunder shall be paid quarterly within 90
      days following the close of the calendar quarter.

      Licensee shall pay any applicable withholding taxes. Each payment shall be
      accompanied by a statement of account of the payments due hereunder and
      the number of Licensed Products sold, licensed or otherwise provided, the
      dates thereof and the terms of sale.

   In the event that the License fails to make any payment when such payment is
   due hereunder, the amount of such payment shall bear interest at the rate
   equal to the minimum lending rate to prime commercial borrowers established
   by McMaster's banker plus one percent (1%) calculated from the date due until
   the date paid provided that the payment of such interest shall not be deemed
   an alternate for the sums owing on the due dates which payments shall be
   deemed to be in default and remain subject to the termination provisions
   herein.

      c) Tag Along Rights.

i.          CCC Common Stock. Except for open market transactions, in the event
            that any shareholder of CCC proceeds to transfer to a third party
            holdings equal to more than 5% of the outstanding shares of an
            as-converted basis, McMaster shall have the right to participate pro
            rata and on the same terms in the transfer.

         ii. Corgenix Common Stock. McMaster will have the right to participate
            pro rata and on the same terms in the transfer as the merger
            agreement between Genesis Bioventures Inc and Corgenix, made on
            March 12, 2004, in which Genesis will issue 14 million shares of its
            common stock in exchange for 100% of Corgenix shares outstanding in
            a transaction valued at approximately USD $10 million based on GBI's
            closing stock price on 15 March 2004.


5.    Information Rights. Licensees shall prepare and maintain complete and
      accurate books and records covering all transactions arising out of or
      relating to this Agreement or the carrying on of its business in respect
      of the Licensed Products.

      Within 120 days after the end of each fiscal year, Licensees shall provide
      progress reports of the status of its operations with respect to the
      Licensed Products.

      McMaster and its duly authorized representatives shall have the right,
      upon giving Licensees five (5) days notice, at its own expense and during
      regular business hours, for the duration of the Agreement and for two (2)
      years thereafter, to inspect and audit Licensees' records relating to the
      Technology licensed under this Agreement.


6.    Patents.  McMaster  will own and  manage  the  prosecution  of all patent
      -------
      applications  giving  rise to Patent  Rights,  including  all patents for
      improvements.  Notwithstanding  McMaster's  rights  under this Article 6,
      McMaster  and  the  Licensees   agree  to  coordinate  the  planning  and
      execution of patent  management,  including but not limited to, decisions
      on when and where to file  patents,  and  selection  of  outside  vendors
      providing services related to patent  management.  Prior to committing to
      any patent  management  expense which the  Licensees  will be required to
      reimburse,  McMaster shall provide the Licensees  with estimated  details
      of such  expenses,  and the Licensees  shall have the right to review and
      discuss such  expenses in advance with  McMaster.  The parties agree that
      it is in the best  interest  of all  parties  that the patent  management
      expenses be reasonable.

      The Licensees shall reimburse McMaster for Previously Incurred Patent
      Expenses as follows:

o     USD $3,250 three (3) months after the Effective Date;

o     USD $3,250 six (6) months after the Effective Date;

o     USD $3,250 nine (9) months after the Effective Date; and

o          The unpaid balance of the total Previously Incurred Patent Expenses
           twelve (12) months after the Effective Date.


      The Licensees shall reimburse McMaster within sixty (60) days of receiving
      proper documentation of any expense for future patent application
      prosecution costs including issuance fees and maintenance fees in
      connection with Patent Rights in the Field-of-Use and Territory, until the
      point of allowance or to the point of a necessary appeal from a final
      rejection by the United States Patent and Trademark Office or the
      equivalent bodies in countries other than the United States, provided that
      the Licensees had been provided prior notification of such expenses as
      provided for in this Article 6. The Licensees will ensure proper patent
      marking for all Licensed Products subject to patent protection.


7.    Further  Assurances.  Licensees  shall execute any documents,  reasonably
      -------------------
      requested by McMaster to confirm  McMaster's  and/or inventor's rights in
      and to  the  Technology  and  the  respective  rights  of  the  Licensees
      pursuant  to  this  Agreement.   Licensees  shall  cooperate,   at  their
      expense,  in connection  with the filing and  prosecution of applications
      to  register  any rights or  interest  in or to the  Technology.  If such
      applications  and   prosecutions   are  undertaken  by  Licensees,   with
      McMaster's  consent,  then  Licensees  shall keep  McMaster  informed and
      provided with copies of filings and progress in  connection  with same in
      a timely and responsive manner.


8.      Infringement.

(a)     Notice Regarding Infringement. Each party shall inform the other parties
        promptly in writing of any alleged infringement of the Patent Rights or
        the Technical Information Rights by a third party and of any available
        evidence thereof.

      (b) Rights of Licensees to Prosecute Suit. Licensees shall have the right,
        but shall not be obligated, to prosecute at their own expense all
        infringements of the Patent Rights and Technical Information, in
        furtherance of such right, McMaster hereby agrees that Licensees may
        include McMaster as a party plaintiff in any such suit, without expense
        to McMaster, provided, however that such right to bring such
        infringement action shall remain in effect only during such time as
        Licensees' license is exclusive. No settlement, consent judgment or
        other voluntary final disposition of the suit may be entered into
        without the consent of McMaster, which consent shall not be unreasonably
        withheld. Licensees shall indemnify McMaster against any order for costs
        that may be issued against McMaster in such proceedings. Any amount
        recovered in any such suit, action or proceeding whether by judgment or
        settlement shall be paid to or retained by the Licensees.

      (c) Right of McMaster to Prosecute Suit. If within six (6) months of
        having been notified of an alleged infringement in the Field-of-Use,
        Licensees shall have been unsuccessful in persuading the alleged
        infringer to desist and shall not have brought an infringement action or
        if Licensees shall notify McMaster at any time prior thereto of their
        intention not to bring suit against any alleged infringer in the
        Field-of-Use, then, McMaster shall have the right, but shall not be
        obligated, to prosecute at its own expense any infringement of the
        Patent Rights in the Field-of-Use, and McMaster may, for such purposes,
        use the name of Licensees as party plaintiff if necessary. No
        settlement, consent judgment or other voluntary final disposition of the
        suit may be entered into that would result in invalidity of a patent
        licensed to Licensees hereunder without the consent of Licensees, which
        consent shall not unreasonably be withheld. In the event that Licensees
        withhold their consent, Licensees shall indemnify McMaster against any
        costs associated with the defense against claims of patent invalidity.
        Any amount recovered in any such suit, action or proceeding whether by
        judgment or settlement shall be paid to or retained by McMaster.


9.    Milestone   and   Performance   Guarantees.   The   Licensees   will  use
      -------------------------------------------
      commercially  reasonable  efforts  to  develop,   market,  and  sell  the
      Licensed  Products.  In the event that  McMaster  is of the view that the
      Licensees  are  not  using  their  best  efforts,  it  may  call  for  an
      evaluation to be conducted by a mutually  agreed upon  evaluator.  If the
      evaluator   determines   that   Licensees  are  not  using   commercially
      reasonable efforts,  McMaster may, at its option, terminate the Agreement
      or change the rights granted  pursuant to the Agreement from exclusive to
      non-exclusive, or restrict the Field-of-Use.

      Schedule of Milestones and Performance Guarantees
      .
o     Net  Sales of USD  $15,000  in the  first  year  after  the Date of First
           Commercial Sale;

o     Net  Sales of USD  $50,000  in the  second  year  after the Date of First
           Commercial Sale;

o     Net  Sales of USD  $100,000  in the  third  year  after the Date of First
           Commercial Sale;

o     Net Sales of USD  $300,000  in the  fourth  year  after the Date of First
           Commercial Sale; and

o          Net Sales of USD $500,000 in the fifth year after the Date of First
           Commercial Sale and each year thereafter.

  The milestone for Net Sales shall not exceed USD $100,000 per year until which
      time McMaster has received allowance for either a) Patent Application No.
      1, or b) Patent Application No. 3, as described in Schedule B.


10.   McMaster Representations and Warranties. McMaster warrants that it has the
      power and authority to enter into this Agreement and has no knowledge as
      to any third party claims regarding proprietary rights in the Technology
      or Patent Rights which would interfere with the rights granted under this
      Agreement.


11.   Licensees Representations and Warranties. Licensees hereby represent and
      warrant as of the date hereof that:

      (a) CCC is a corporation duly organized and validly existing under the
        laws of the State of Colorado and has all requisite corporate power and
        authority to execute, deliver and perform its obligations under this
        Agreement and to consummate the transactions contemplated hereby.

      (b) Corgenix is a corporation duly organized and validly existing under
        the laws of the State of Delaware and has all requisite corporate power
        and authority to execute, deliver and perform its obligations under this
        Agreement and to consummate the transactions contemplated hereby.


12.   Disclaimer of Warranties.  EXCEPT FOR THE  REPRESENTATIONS AND WARRANTIES
       ------------------------
      SET  FORTH  IN  SECTIONS  10 AND 11  HEREOF,  NOTHING  CONTAINED  IN THIS
      AGREEMENT  SHALL BE CONSTRUCTED AS: (A) A WARRANTY OR  REPRESENTATION  OF
      ANY  PARTY  AS  TO  THE   VALIDITY,   ENFORCEABILITY   OR  SCOPE  OF  ANY
      INTELLECTUAL  PROPERTY  RIGHT  LICENSED  HEREUNDER;  (B)  A  WARRANTY  OR
      REPRESENTATION  THAT THE EXERCISE OF ANY OF THE RIGHTS GRANTED  HEREUNDER
      WILL BE FREE FROM  INFRINGEMENT  OF THE  INTELECTUAL  PROPERTY  RIGHTS OF
      THIRD  PARTIES;  (C) AN AGREEMENT TO BRING OR PROSECUTE  ACTIONS OR SUITS
      AGAINST  THIRD  PARTIES  FOR  INFRINGEMENT;  OR (D)  EXCEPT AS  EXPRESSLY
      PROVIDED  HEREIN,  REQUIRING  EITHER  PARTY  TO FILE AN  APPLICATION  FOR
      PATENT, SECURE ANY PATENT OR MAINTAIN ANY PATENT IN FORCE.

      EXCEPT AS EXPRESSLY SET FORTH HEREIN, NO PARTY MAKES ANY EXPRESS
      WARRANTIES AND EACH PARTY EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTIES
      INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF NON-INFRINGEMENT,
      MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. MCMASTER MAKES NO
      WARRANTY AS TO THE SUFFICIENCY OR SUITABILITY FOR LICENSEES' USE OF THE
      PATENT RIGHTS OR THE TECHNICAL INFORMATION RIGHTS, AND NO PARTY ASSUMES
      ANY RESPONSIBILITY OR LIABILITY FOR LOSS OR DAMAGES, WHETHER DIRECT OR
      INDIRECT, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR SPECIAL, WHICH MAY ARISE
      OUT OF ANOTHER PARTY'S USE OF SUCH INFORMATION OR INTELLECTUAL PROPERTY TO
      DESIGN, MANUFACTURE OR FABRICATE PRODUCTS, OR WHICH MAY ARISE OUT OF SUCH
      OTHER PARTY'S SALE OF SUCH PRODUCTS DESIGNED, MANUFACTURED OR FABRICATED
      USING OR INCORPORATING SUCH INFORMATION OR INTELLECTUAL PROPERTY, AND EACH
      PARTY SHALL BE SOLELY RESPONSIBLE FOR THE QUALITY, PERFORMANCE,
      RELIABILITY AND SAFETY OF PRODUCTS MANUFACTURED BY OR FOR SUCH PARTY.


13.   Indemnification.

      (a) Indemnification by Licensees. Licensees shall at all times during the
        term of this Agreement and thereafter, defend, indemnify and hold
        harmless McMaster, its directors, officers, employees, agents and
        affiliates, from and against any and all liability, damage, loss, cost
        or expense of any kind whatsoever (including reasonable attorneys' fees)
        incurred by or imposed upon McMaster in connection with any and all
        claims, suits, actions, demands, proceedings, causes of action or
        judgments (including, without limitation, product liability claims)
        resulting from or arising out of the production, manufacture, use,
        marketing or sale of Licensed Products or Licensed Processes or
        Licensees' breach of any of its obligations hereunder. McMaster shall
        promptly notify Licensees of any such claims(s) of which McMaster is
        aware. Licensees, at Licensee's sole expense, shall maintain control and
        direction of the defense of such claims brought against McMaster,
        provided, however, that McMaster shall have the right to participate in
        such defense at McMaster's expense. McMaster agrees to provide Licensees
        with any and all reasonable assistance which Licensees may request in
        connection with its defense of such claims.

      (b) Indemnification by McMaster. McMaster shall at all times during the
        term of this Agreement and thereafter, defend, indemnify and hold
        harmless Licensees, their directors, officers, employees, agents and
        affiliates, from and against any and all liability, damage, loss, cost
        or expense of any kind whatsoever (including reasonable attorneys' fees)
        incurred by or imposed upon Licensees in connection with any and all
        claims, suits, actions, demands, proceedings, causes of action or
        judgments against McMaster except for those arising from gross
        negligence or willful misconduct. Licensees shall promptly notify
        McMaster of any such claims(s) of which Licensees are aware. McMaster,
        at McMaster's sole expense, shall maintain control and direction of the
        defense of such claims brought against Licensees, provided, however,
        that Licensees shall have the right to participate in such defense at
        Licensee's expense. Licensees agree to provide McMaster with any and all
        reasonable assistance which McMaster may request in connection with its
        defense of such claims.


14.   Insurance. The Licensees will be required to obtain insurance in amounts
      and on terms that a reasonable and prudent business person in a similar
      business would maintain. If any sublicenses are granted, sublicenses will
      be required to obtain similar insurance.


15.   Confidentiality. The information shall be developed, received and used by
      the Licensees solely in furtherance of the purposes set forth in this
      Agreement subject to the terms and conditions set forth in this Article
      15.

      (a) The Licensee shall keep and use all of the Confidential Information in
        confidence and will not, without McMaster's prior written consent,
        disclose any Confidential Information to any person or entity, except
        those of the Licensees' officers, employees and professional advisors
        who require said Confidential Information in performing their
        obligations under this Agreement. The Licensees covenant and agree that
        they will initiate and maintain an appropriate internal program limiting
        the internal distribution of the Confidential Information to only those
        officers, employees and professional advisors who require said
        Confidential Information in performing their obligations under this
        Agreement and who have signed confidentiality and nondisclosure
        agreements in a form approved by the Licensees' Boards of Directors.

      (b) The Licensees shall not use, whether directly or indirectly, any
        Confidential Information for any purpose other than as set forth herein
        without McMaster's prior written consent.

      (c) If either of the Licensees are required by judicial or administrative
        process to disclose any or all of the Confidential Information, the
        Licensees shall promptly notify McMaster and allow McMaster reasonable
        time to oppose such process before disclosing any Confidential
        Information.


16.   Term. Unless sooner terminated pursuant to (a) or (b) below, the license
      herein granted shall commence on the Effective Date of this Agreement and
      continue until the date of expiry of the last to expire of any patents
      issued with the respect to the Technology.

      (a) Licensees shall have the right to terminate the license herein granted
        upon at least three (3) months written notice of such termination to
        McMaster.

      (b) McMaster shall have the right to terminate the license herein granted
        for any of the following reasons:

i.         for any breach by Licensees of any of their obligations contained in
           this Agreement, which breach is not cured within thirty (30) days
           after written notice thereof by McMaster except that, where it is not
           possible to cure the breach within the said thirty (30) day period
           and proceeds diligently thereafter to cure the breach no later than a
           further sixty (60) days thereafter.

ii.        Licensee fails to meet any of its milestones or performance
           requirements as provided in Article 9.

iii.       Bankruptcy or insolvency of either Licensee or the appointment of a
           receiver or liquidator to take charge of the affairs of either
           Licensee or the making of an assignment for the benefit of either
           Licensee's creditors or the equivalent of any such proceedings or
           acts (whether known by some other name or term), effective
           immediately upon written notice to either Licensee.


17.        Termination. The following provisions shall take effect upon the
           termination of this License:

      (a) Such termination shall not release Licensees from their obligations
        with respect to the payment of royalties accrued up to the date of
        termination;

      (b) Licensees shall forthwith following such termination deliver to
        McMaster a complete and accurate schedule of Licensees' inventory of
        completed and uncompleted Licensed Products on hand and all unfilled
        orders for the purchase of Licensed Products.

      (c) Licensees may sell their inventory of work in progress and Licensed
        Products on hand on the date of termination but only pursuant to the
        terms of this Agreement;

(d)     Licensees shall forthwith, and no later than thirty (30) days after
        termination, return free of charge to McMaster all written information
        and documents of whatever kind; including technical data, manuals,
        reports and programs only to the extent that it embodies, contains or
        specifically relates to the Technology; and

(e)   Obligations under this Article and Articles 2, 10, 11, 12, 13, 14, 15, 18,
      19, 20, 21 and 22 shall survive such termination.


18.   No Waiver. The failure of either McMaster or the Licensees to exercise its
      rights herein upon the occurrence of any breach by the other side of its
      obligations shall not in any event constitute a waiver of such rights if
      any such breach by the other side should reoccur.


19.   Assignment. This Agreement and all its rights and privileges hereunder may
      not be assigned by McMaster or the Licensees without prior written consent
      of the other side, which consent shall not be unreasonably withheld. This
      Agreement and everything herein contained shall inure to the benefit of
      and be binding upon each of the parties hereto and upon their respective
      successors and permitted assigns.


20.   Jurisdiction. This Agreement shall be constructed in accordance with the
      laws of the Province of Ontario.


21.   Dispute  Resolution.  McMaster  and the  Licensees  shall use their  best
      --------------------
      efforts to settle in a fair and reasonable  manner any dispute arising in
      connection  with  Agreement.  If such dispute  cannot be settled  between
      McMaster and the Licensees,  it shall be first  submitted to mediation by
      a mediator  chosen jointly by the two sides.  In the event that mediation
      does not bring a resolution of the dispute  within thirty (30) days,  the
      dispute  shall be submitted  to  arbitration  before a single  arbitrator
      pursuant to the Arbitration Act of Ontario and the schedules  thereto (as
      amended from time to time).


22.   Relationship between the Parties. McMaster and the Licensees are not and
      shall not be considered to be joint ventures, partners or agents of each
      other and neither shall have the power to bind or obligate the other
      except as set forth in this Agreement.


23.   Licensee Covenants. The Licensees will be required to:

(a)   Keep McMaster advised of any changes of jurisdiction applicable to itself;

(b)   Provide McMaster, every six months, with details of any improvements they
      have made or acquired;

(c)   Pay all taxes relating to activities under the License Agreement; and

(d)   Not use McMaster's name or trade-marks without prior written consent of
      McMaster, which consent shall not be unreasonably withheld.


24.   Notice. All notices, demands or other communications required to be made
      or given pursuant to the terms of this Agreement shall be in writing and
      shall be delivered personally, by courier or by prepaid first class post,
      to the parties at their respective addresses as hereinafter set out, or
      such other addresses as the parties may subsequently advise in writing.
      The following shall be the addresses for the delivery of notices to each
      of the parties.


      McMaster: McMaster University
                Office of Research Contracts and Intellectual Property
                1280 Main Street West, GH 306
                Hamilton, Ontario L8S 4L8
                CANADA
                Attention: Mr. Marcel Mongeon, Executive Director

      Licensees:Creative Clinical Concepts
                210 St. Paul Street, Suite 200
                Denver, CO 80206
                USA
                Attention: Mr. Gordon Ens, President

                Corgenix, Inc.
                12061 Tejon Street
                Westminster, CO 80234
                USA
                Attention: Mr. Douglass T. Simpson, President


                           - signature page follows -



<PAGE>



IN WITNESS WHEREOF the parties hereto have executed this Agreement as an
instrument under seal.

SIGNED, SEALED AND DELIVERED
MCMASTER UNIVERSITY

s/ Marcel Mongeon                   Date: November 6, 2004
Name: Marcel Mongeon
Title: Executive Director & Legal Counsel


CREATIVE CLINICAL CONCEPTS, INC.

s/ Gordon Ens                       Date: October 19, 2004
Name: Gordon Ens
Title: President


CORGENIX, INC.

s/  Douglass T. Simpson             Date: October 19, 2004
Name: Douglass T. Simpson
Title: President



<PAGE>




SCHEDULE A

                       Previously Incurred Patent Expenses

           Total Expenses as of the Effective Date - $ 17,535.92 CDN

Exp Date
                                                                      Exp Amount
Expense Description
                                                                   Detail Amount
Company
                                                                       10,936.88
03/17/2003
Gowling Lafleur Henderson LLP (Hamilton)
                                                                        7,999.88
Legal  Fees
                                                                        2,937.00
Patent Fee
                                                                          308.18
05/26/2003
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          308.18
Legal  Fees
                                                                          114.33
06/23/2003
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          114.33
Legal  Fees
                                                                        1,878.48
12/29/2003
Gowling Lafleur Henderson LLP (Hamilton)
                                                                        1,878.48
Legal  Fees
                                                                          204.11
02/18/2004
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          204.11
Legal  Fees
                                                                        1,548.67
05/20/2004
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          986.17
Legal  Fees
                                                                          562.50
Patent Fee
                                                                        1,161.09
05/20/2004
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          598.59
Legal  Fees
                                                                          562.50
Patent Fee
                                                                          260.55
05/31/2004
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          260.55
Legal  Fees
                                                                          455.92
06/29/2004
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          455.92
Legal  Fees
                                                                          417.05
06/22/2004
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          417.05
Legal  Fees
                                                                          250.66
08/23/2004
Gowling Lafleur Henderson LLP (Hamilton)
                                                                          250.66
Legal  Fees
-------------------------------------------------------------------------------
                                                                      $17,535.92













<PAGE>


                                   SCHEDULE B

                                  Patent Rights

1. Title: Method and device used to predict the future incident of myocardial
infarction, stroke or cardiovascular death for patients taking aspirin; US
Continuation in Part Application No. 20040126826 filed September 24, 2003,
Series No. 10, Serial No. 670,118; Claiming priority to US Provisional
Application 60/367, 883 filed March 24, 2002; ("Patent Application No. 1").

2. Title: Method for Predicting Cardiovascular events; US Patent Application No.
20040115735 filed September 24, 2003, Series No. 10, Serial No. 670,122;
("Patent Application No. 2").

3. Title: Method and Device for Predicting Cardiovascular Events; PCT
Application Serial No. WO2003CA00422 filed March 24, 2003; EP Application Serial
No. 03744750.5 filed September 17, 2004; ("Patent Application No. 3").

4. Title: Method and Device for Predicting Cardiovascular Events; Canadian
Application PCT/CA03/000422 filed September 8, 2004; ("Patent Application No.
4").







<PAGE>








                                   SCHEDULE C

                                   Technology

                                 Tech ID: 03-036

  Title: Method and device used to predict the future incident of myocardial
    infarction, stroke or cardiovascular death for patients taking aspirin

     In summary an assay was developed for a thromboxane A2 metabolite and
   capitalized on the availability of the HOPE data base to demonstrate that
  patients who show impaired response to the effects of Aspirin on inhibition
  of thromboxane A2 production have less favorable clinical outcomes. That is
        we have demonstrated that aspirin resistance is a real entity.



















<page>
                                                                  Exhibit 31.1
                                 CERTIFICATIONS

I, Luis R. Lopez, Chief Executive Officer, certify that:

   1. I have reviewed this quarterly report on Form 10-QSB of Corgenix Medical
   Corporation.

2.    Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report.

3.         Based on my knowledge, the financial statements, and other financial
           information included in this report, fairly present in all material
           respects the financial condition, results of operations and cash
           flows of the registrant as of, and for, the periods presented in this
           quarterly report;

4.         The small business issuer's other certifying officers and I are
           responsible for establishing and maintaining disclosure controls and
           procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
           for the small business issuer and have:

a.         Designed such disclosure controls and procedures, or caused such
           disclosure controls and procedures to be designed under our
           supervision, to ensure that material information relating to the
           small business issuer, including its consolidated subsidiaries, is
           made known to us by others within those entities, particularly during
           the period in which this quarterly report is being prepared;
b.         Evaluated the effectiveness of the small business issuer's disclosure
           controls and procedures and presented in this report our conclusions
           about the effectiveness of the disclosure controls and procedures, as
           of the end of the period covered by this report based on such
           evaluation; and
c.         Disclosed in this report any change in the small business issuer's
           internal control over financial reporting that occurred during the
           small business issuer's most recent fiscal quarter (the small
           business issuer's fourth fiscal quarter in the case of an annual
           report) that has materially affected, or is reasonably likely to
           materially affect, the small business issuer's internal control over
           financial reporting; and

5.         The small business issuer's other certifying officers and I have
           disclosed , based on our most recent evaluation of internal control
           over financial reporting, to the small business issuer's auditors and
           the audit committee of registrant's board of directors:

a.         All significant deficiencies in the design or operation of internal
           control over financial reporting which are reasonably likely to
           adversely affect the small business issuer's ability to record,
           process, summarize and report financial information; and
b.         Any fraud, whether or not material, that involves management or other
           employees who have a significant role in the small business issuer's
           internal control over financial reporting.

Date:  February 14, 2005


/S/Luis R. Lopez
Chief Executive Officer






<page>



                                                                  Exhibit 31.2
                                 CERTIFICATIONS



I, William H. Critchfield, Chief Financial Officer, certify that:

   1. I have reviewed this quarterly report on Form 10-QSB of Corgenix Medical
      Corporation.

   2. Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report.

3.    Based on my knowledge, the financial statements, and other financial
      information included in this report, fairly present in all material
      respects the financial condition, results of operations and cash flows of
      the registrant as of, and for, the periods presented in this quarterly
      report;

4.         The small business issuer's other certifying officers and I are
           responsible for establishing and maintaining disclosure controls and
           procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
           for the small business issuer and have:

a.         Designed such disclosure controls and procedures, or caused such
           disclosure controls and procedures to be designed under our
           supervision, to ensure that material information relating to the
           small business issuer, including its consolidated subsidiaries, is
           made known to us by others within those entities, particularly during
           the period in which this quarterly report is being prepared;
b.         Evaluated the effectiveness of the small business issuer's disclosure
           controls and procedures and presented in this report our conclusions
           about the effectiveness of the disclosure controls and procedures, as
           of the end of the period covered by this report based on such
           evaluation; and
c.         Disclosed in this report any change in the small business issuer's
           internal control over financial reporting that occurred during the
           small business issuer's most recent fiscal quarter (the small
           business issuer's fourth fiscal quarter in the case of an annual
           report) that has materially affected, or is reasonably likely to
           materially affect, the small business issuer's internal control over
           financial reporting; and

5.         The small business issuer's other certifying officers and I have
           disclosed , based on our most recent evaluation of internal control
           over financial reporting, to the small business issuer's auditors and
           the audit committee of registrant's board of directors:

a.         All significant deficiencies in the design or operation of internal
           control over financial reporting which are reasonably likely to
           adversely affect the small business issuer's ability to record,
           process, summarize and report financial information; and
b.         Any fraud, whether or not material, that involves management or other
           employees who have a significant role in the small business issuer's
           internal control over financial reporting.

Date:  February 14, 2005


/S/William H. Critchfield
Chief Financial Officer





<page>


                                                                  Exhibit 31.3

                                 CERTIFICATIONS



I, Douglass T. Simpson, President, certify that:

   1. I have reviewed this quarterly report on Form 10-QSB of Corgenix Medical
      Corporation.

   2. Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report.

3.    Based on my knowledge, the financial statements, and other financial
      information included in this report, fairly present in all material
      respects the financial condition, results of operations and cash flows of
      the registrant as of, and for, the periods presented in this quarterly
      report;

4.    The small business issuer's other certifying officers and I are
      responsible for establishing and maintaining disclosure controls and
      procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for
      the small business issuer and have:

           Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision, to
ensure that material information relating to the small business issuer,
including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this quarterly report is
being prepared;
    Evaluated the effectiveness of the small business issuer's disclosure
controls and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the end of the
period covered by this report based on such evaluation; and
    Disclosed in this report any change in the small business issuer's internal
control over financial reporting that occurred during the small business
issuer's most recent fiscal quarter (the small business issuer's fourth fiscal
quarter in the case of an annual report) that has materially affected, or is
reasonably likely to materially affect, the small business issuer's internal
control over financial reporting; and

5.         The small business issuer's other certifying officers and I have
           disclosed, based on our most recent evaluation of internal control
           over financial reporting, to the small business issuer's auditors and
           the audit committee of registrant's board of directors:

a.         All significant deficiencies in the design or operation of internal
           control over financial reporting which are reasonably likely to
           adversely affect the small business issuer's ability to record,
           process, summarize and report financial information; and
b.         Any fraud, whether or not material, that involves management or other
           employees who have a significant role in the small business issuer's
           internal control over financial reporting.

Date:  February 14, 2005


/S/Douglass T. Simpson
President



<page>



                                                                   Exhibit 32.1


                                  CERTIFICATION
             PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
        SUBSECTIONS (a) AND (b) OF SECTION 1350, CHAPTER 63 OF TITLE 18,
                               UNITED STATES CODE

Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and
(b) of section 1350, chapter 63 of Title 18, United States Code), I Douglass T.
Simpson, President of Corgenix Medical Corporation, a Nevada corporation (the
"Company"), does hereby certify with respect to the Quarterly Report of the
Company on Form 10-QSB for the quarter ended December 31, 2004 as filed with the
Securities an Exchange Commission (the "10-QSB Report") that:

               (i) the 10-QSB Report fully complies with the requirements of
                 section 13(a) or 15(d) of the Securities Exchange Act of 1934;
                 and

               (ii) the information contained in the 10-QSB Report fairly
                 presents, in all material respects, the financial condition and
                 results of operations of the Company.


           Dated:    February 14, 2005





           This Certification is made solely for purposes of 18 U.S.C. Section
           1350, subject to the knowledge standard contained therein, and not
           for any other purpose.

           A signed original of this written statement required by Section 906
           of the Sarbanes-Oxley Act has been provided to the Company and will
           be retained by the Company and furnished to the Securities and
           Exchange Commission or its staff request. This written statement
           shall not be deemed to be "filed" as part of the quarterly report on
           Form 10-QSB that it accompanies.


/S/ Douglass T. Simpson
 President













<page>






                                                                   Exhibit 32.2


                                  CERTIFICATION
             PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
SUBSECTIONS (a) AND (b) OF SECTION 1350, CHAPTER 63 OF TITLE 18,
                               UNITED STATES CODE

Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and
(b) of section 1350, chapter 63 of Title 18, United States Code), I William H.
Critchfield, Chief Financial Officer of Corgenix Medical Corporation, a Nevada
corporation (the "Company"), does hereby certify with respect to the Quarterly
Report of the Company on Form 10-QSB for the quarter ended December 31, 2004 as
filed with the Securities an Exchange Commission (the "10-QSB Report") that:

(i)              the 10-QSB Report fully complies with the requirements of
                 section 13(a) or 15(d) of the Securities Exchange Act of 1934;
                 and

               (ii) the information contained in the 10-QSB Report fairly
                 presents, in all material respects, the financial condition and
                 results of operations of the Company.


           Dated:    February 14, 2005





           This Certification is made solely for purposes of 18 U.S.C. Section
           1350, subject to the knowledge standard contained therein, and not
           for any other purpose.

           A signed original of this written statement required by Section 906
           of the Sarbanes-Oxley Act has been provided to the Company and will
           be retained by the Company and furnished to the Securities and
           Exchange Commission or its staff request. This written statement
           shall not be deemed to be "filed" as part of the quarterly report on
           Form 10-QSB that it accompanies.


/S/ William H. Critchfield
Chief  Financial Officer











<page>








                                   SIGNATURES


      In accordance with the requirements of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                    CORGENIX MEDICAL CORPORATION



February 14, 2005                       By:/s/ Luis R. Lopez
                                           Luis R.Lopez, M.D.
                                           Chairman and Chief Executive Officer