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**EXHIBIT      10.53**

**FIRST      AMENDMENT TO THE SUBLICENSE AGREEMENT AND CONSENT**

| A.   | UBC                and GHTI Canada entered into a License Agreement, effective February                3,                2003 (the "Principal License"), pursuant to which UBC granted GHTI                Canada                exclusive, worldwide, sublicenseable rights for and relating to the                commercial development, use and sale of certain inventions pertaining                to                methods of generating hydrogen from water (the "Technology"), in                accordance with the terms and conditions of the Principal                License. |
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| B.   | UBC,                GHTI Canada and HPI entered into a certain Sublicense Agreement and                Consent, effective March                15, 2004 (the "Sublicense"), pursuant to which UBC provided its consent                and GHTI granted to HPI the: (a) exclusive rights for and relating                to the                use, market and distribute the Technology                in the United States, Mexico, Central and South America; and (b)                non-exclusive rights                to market and distribute products in                Canada. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| C.   | HPI                entered into a Merger Agreement dated September 13, 2005 (the "Merger                Agreement") with Equitex, Inc. ("Equitex") and El Acquisition Corp.                ("El"), a wholly owned subsidiary of Equitex, pursuant to which the                parties to the Merger Agreement have agreed that El shall merge with                and                into                HPI and HPI will become a wholly owned subsidiary of                Equitex. |
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| D.   | HPI                desires that, in the event of any termination of the Principal License,                other than a termination that                arises as a result of a breach of the Sublicense by HPI, that HPI                will                have the exclusive right to                retain its rights with respect to the Technology under the                Sublicense. |
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| 1.   | This                First Amendment shall be effective on the Closing Date of the Merger                Agreement, provided such                Closing Date occurs within one hundred eighty (180) calendar days                of the                date hereof (the "Effective Date"). In the event that the Closing                Date                does not occur within one hundred eighty (180) calendar days of the                date                of this Agreement, this Agreement will terminate and be of no force                or                effect unless extended by agreement among the parties in                writing. |
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| 2.   | All                definitions referred to in this First Amendment have the same meaning                as                in the Principal License and                Sublicense. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | In                the event of a termination of the Principal License arising on or                after                the Effective Date, other than                a termination that arises as a result of a breach of the Sublicense                by                HPI, UBC grants HPI the exclusive right to retain those rights granted                to                HPI in the Sublicense, which shall remain in effect                on the same terms as the Sublicense, and which rights shall remain                in full                force and effect notwithstanding                the termination of the Principal License, with UBC retaining the                rights                and obligations of the Sublicensor (in lieu of GHTI Canada) under                the                Sublicense. |
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| 4.   | GHTI                Canada agrees to provide prompt written notice to HPI if any proceeding                under the *Bankruptcy                and Insolvency Act*of                Canada, or similar statute of similar purpose, is commenced by                or                against GHTI Canada. No less than ten (10) calendar days prior to                the                effective date of any termination                pursuant to Article 18 of the Principal License, UBC shall provide                written                notice to HPI. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | UBC                hereby expressly provides its consent to HPI's execution and delivery                of                such Merger Agreement                and the transactions contemplated therein to the extent this shall                constitute an assignment                of the Sublicense and or otherwise require the consent of                UBC. |
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| 6.   | Save                and except as set out herein, all terms and conditions of the Sublicense                are hereby ratified and                confirmed. |
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*Signature      Page to Follow.*

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| SIGNED                FOR AND ON BEHALF of **THE****UNIVERSITY                OF BRITISH COLUMBIA**byits                authorized signatory: |                                                                                                     |
|-----------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|
|  /s/                David P. JonesAuthorized                Signatory                                                                    | David                P. JonesAssociate                DirectorUniversity-Industry                Liaison |
|                                                                                                                                          |                                                                                                     |
|  March                7, 2006Date                                                                                                        |                                                                                                     |

| SIGNED                FOR AND ON BEHALF of **GLOBAL                HYDROFUEL TECHNOLOGIES INC.**by                its authorized                signatory: |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|  /s/                James MatkinAuthorized                Signatory                                                                                   |   |
|  March                7, 2006Date                                                                                                                     |   |

| SIGNED                FOR AND ON BEHALF of **HYDROGEN                POWER INC.**by                its authorized signatory: |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|
|  /s/                James MatkinAuthorized                Signatory                                                     |   |
|  March                7, 2006Date                                                                                       |   |