Exhibit 99.3

EQUITY MONETIZATION AGREEMENT

This Equity Monetization Agreement (Agreement) is made and entered into
this __day of February, 2007, by and between UTEK Corporation (UTEK), a Delaware Corporation, 2109 E Palm Avenue, Tampa, Florida 33605, and vFinance, Inc., (VFIN) 3010 North military Trail, Suite 300, Boca Raton, Fl 33431

WHEREAS, VFIN desires to provide to UTEK equity monetization services as set forth in this Agreement for equity stakes UTEK has or
will have in its portfolio, and

WHEREAS, UTEK is agreeable to pay VFIN for these services.

NOW THEREFORE, in consideration of the mutual promise made in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as follows:



|I. | SERVICES
|-- | --------

At UTEKs request, VFIN will
monetize a portion of select, restricted equity stakes that UTEK acquires through its technology transfer services.



| | A. | In conjunction with providing these Services, VFIN agrees to:
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| | I. | Make itself available telephonically, during normal business hours, for reasonable periods of time, subject to reasonable notice and mutually convenient scheduling.
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| | II. | Actively seek and secure buyer(s) for each equity stake presented for sale within 5 business days of presentation or description of the equity stake by UTEK. Within 5 business days,
VFIN agrees it will return with a minimum bid in all instances when presented with an equity stake that is publicly traded and current with their SEC filings. The equity description will be provided by UTEK to VFIN telephonically with an e-mailed
confirmation. VFIN will provide confirmation of receipt of UTEKs e-mailed, stock available for sale description, in each instance.
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| | III. | If UTEK agrees, at it sole discretion, to move forward with the transaction, VFIN will prepare the requisite documentation and expeditiously consummate the sale.
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| | B. | This Agreement is non-exclusive for both parties.
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|II. | INDEPENDENT CONTRACTOR
|--- | ----------------------

VFIN shall be, and in all respects be
deemed to be, an independent contractor in the performance of its duties hereunder.



|III. | EXPENSES
|---- | --------

With the exception of the commission to paid to VFIN as
outlined below, it is expressly agreed and understood that each party shall be responsible for its own normal and reasonable out-of-pocket expenses.



|IV. | COMPENSATION
|--- | ------------



| | A. | In consideration for providing these services, VFIN shall receive a commission according to a sliding scale (refer below) as payment following closing of each transaction.
Commission payment will be automatically deducted from the proceeds of each sale following settlement.
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Commission Scale, which is based on a discount to market price of the security on the date of the
transaction:



|         |  |     |  
|-------- |  | --- | -
|Discount |  | Fee |  
|<20%     |  | 5   | %
|20-30%   |  | 3   | %
|30-40%   |  | 2   | %
|40-50%   |  | 1.5 | %
|>50%     |  | 1   | %



|V. | TERM AND TERMINATION
|-- | --------------------

The term of the Agreement will be for 12
months. This Agreement may be renewed upon mutual, written agreement of the parties. Either party may terminate this Agreement at any time, with 30 days written notice.



|VI. | DEFINITION OF RESRTICTED STOCK
|--- | ------------------------------

For the purpose of this Agreement
restricted equities shall be defined as restricted securities in public companies that have been held by UTEK for a period of less than twenty-four (24) months and there has been no request by UTEK or its agent for the removal of any legend by
its issuer.



|VII. | LEGAL COMPLIANCE
|---- | ----------------

VFIN and UTEK both agree that it will comply with
applicable NASD and SEC rules and regulations with regard to the services contemplated by this Agreement. In addition,



| | A. | No press releases or any other forms of communication to third parties, which mention both UTEK and VFIN, shall be released without the prior written consent and approval of both
UTEK and VFIN.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | B. | VFIN represents to UTEK that a) it has the experience as may be necessary to perform all the required Service, b) all services will be performed in a professional manner, and c) all
individuals it provides to perform the service will be appropriately qualified and subject to appropriate agreements concerning the protection confidential information of which such persons may have access to over the term of this Agreement.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|VIII. | CONFIDENTIAL DATA
|----- | -----------------



| | A. | VFIN shall not divulge to others, any trade secret or confidential information, knowledge, or data concerning or pertaining to the business and affairs of UTEK or confidential
information revealed by UTEK obtained as a result of its engagement hereunder, unless authorized, in writing, by UTEK, and agreed to be bound by any confidentiality agreement entered into by UTEK with any third party for the purpose of reviewing
technology acquisition opportunities.
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|IX. | OTHER MATERIAL TERMS AND CONDITIONS
|--- | -----------------------------------



| | A. | ADDITIONAL INSTRUMENTS. Each of the parties shall from time to time, at the request of others, execute, acknowledge and deliver to the other party any and all further instruments
that may be reasonably required to give full effect and force to the provisions of this Agreement.
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| | B. | ENTIRE AGREEMENT. Each of the parties hereby covenants that this Agreement, is intended to and does contain and embody herein all of the understandings and agreements, both written
or oral, of the parties hereby with respect to the subject matter of this Agreement, and that there exists no oral agreement or understanding expressed or implied liability, whereby the absolute, final and unconditional character and nature of this
Agreement shall be in any way invalidated, empowered or affected. There are no representations, warranties or covenants other than those set forth herein.
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| | C. | ASSIGNMENTS. The benefits of the Agreement shall inure to the respective successors and assignees of the parties and assigns and representatives, and the obligations and liabilities
assumed in this Agreement by the parties hereto shall be binding upon their respective successors and assigns; provided that the rights and obligations of UTEK under this Agreement may not be assigned or delegated without the prior written consent
of VFIN and any such purported assignment shall be null and void. Notwithstanding the foregoing, UTEK may assign this Agreement or any portion of its compensation as outlined herein to its subsidiaries in its sole discretion.
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| | D. | ORIGINALS. This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed an original and constitute one and the same agreement.
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| | E. | NOTICES. All notices that are required to be or may be sent pursuant to the provision of this Agreement shall be sent by certified mail, return receipt requested, or by overnight
package delivery service to each of the parties at the addresses appearing herein, and shall count from the date of mailing or the validated air bill.
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| | F. | MODIFICATION AND WAIVER. A modification or waiver of any of the provisions of this Agreement shall be effective only if made in writing and executed with the same formality as this
Agreement. The failure of any party to insist upon strict performance of any of the provisions of this Agreement shall not be construed as a waiver of any subsequent default of the same or similar nature or of any other nature.
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| | G. | ATTORNEYS FEES. If any arbitration, litigation, action, suit, or other proceeding is instituted to remedy, prevent or obtain relief from a breach of this Agreement, in
relation to a breach of this Agreement or pertaining to a declaration of rights under this Agreement, the prevailing party will recover all such partys attorneys fees incurred in each and every such action, suit or other proceeding,
including any and all appeals or petitions there from. As used in this Agreement, attorneys fees will be deemed to be the full and actual cost of any legal services actually performed in connection with the matters involved, including those
related to any appeal to the enforcement of any judgment calculated on the basis of the usual fee charged by attorneys performing such services.
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| | H. | This Agreement is governed by the laws of the State of Florida.
| | -- | ---------------------------------------------------------------

APPROVED
AND AGREED:



|                 |  |                          |  |               |  |     |  |                        
|---------------- |  | ------------------------ |  | ------------- |  | --- |  | -----------------------
|UTEK Corporation |  |                          |  | vFinance, Inc
|                 |  |                          |  |              
|By:              |  |                          |  |               |  | By: |  |                        
|                 |  | Clifford M. Gross, Ph.D. |  |               |  |     |  | Lenard Sokolow, J.D.   
|                 |  | Chief Executive Officer  |  |               |  |     |  | Chief Executive Officer



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