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Exhibit 4.03

THRILLTIME ENTERTAINMENT INTERNATIONAL, INC.

May 25, 2006

Advanced Proteome Therapeutics Inc.1200 Taylor Street,
#14San Francisco, California 94108

|Attention: | Allen Krantz,
|---------- | -------------
|           | President    
|           |              
|           |              

Dear Sirs:

Re:LOAN AGREEMENT

Thrilltime Entertainment International, Inc. (the Lender) hereby
establishes in favor of Advanced Proteome Therapeutics Inc. (the Borrower) a
loan facility (the Loan) on the following terms and conditions:

Maximum Credit Amount:CAD$300,000 (the
Maximum Credit Amount).

Borrowing:During the Term, the Borrower may
borrow up to the Maximum Credit Amount as to a maximum of $50,000 every two
weeks; provided, however, that the borrower may borrow amounts greater than
$50,000 in any two-week period, upon written consent of the Lender.

Term and Repayment:The term of the Loan
shall commence on execution by the Borrower of this letter agreement and any
amounts drawn down shall be due and payable as a balloon payment on that date
which is 5 years from the date hereof (the Term).

Interest Rate:Any amount drawn down under
the Loan shall bear interest at 1% per annum and shall accrue and be due and
payable, together with the principal amounts advanced hereunder, on the date
that is five years from the date hereof.

Draw Request:To access the Loan, the
Borrower shall provide to the Lender, when money is due to be accessed
hereunder, an e-mail written request setting forth the amount to be advanced,
which in any event shall be minimum in any one draw of $25,000.

Conversion:The Loan may be converted into
common shares of the Borrower at any time at the election of the Lender, and
shall be converted as a condition precedent to the completion of the
transactions contemplated by that letter of intent entered into between the
Lender and the Borrower dated May 23, 2006. In circumstances where less than the
Maximum Credit Amount

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has been advanced to the Borrower, the Lender shall, as a
pre-condition to conversion, advance any remaining amount, and the Maximum
Credit Amount, together with accrued but unpaid interest thereon, shall then be
converted into 4,000,000 shares of Borrower. Thrilltime will have the unilateral
right to convert the Loan to 4,000,000 shares of stock for a period of six
months from the date of this Loan Agreement. If not so converted within this
time period, the right to convert will be subject to discretion and permission
of Krantz.

Evidence of Indebtedness:As evidence of the
indebtedness under the Loan, the Borrower will deliver to the Lender a grid
promissory note (the Note) in the principal amount of CAD$300,000 in the form
attached as Schedule A hereto. The Lender is hereby authorized to record on
the Note all advances by the Lender under the Loan, and all payments of
principal made by the Borrower. The Note will constitute prima facie evidence of
the amounts of all such advances, payments and the indebtedness of the Borrower
under the Loan from time to time.

Default:The following shall constitute
events of default by the Borrower:

| | (a) | non-payment within 10 business days after the due date thereof of
      principal, interest and any other amounts due under this Agreement or the
      Note;                                                                                                                                   
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                 
| | (b) | a breach or default by the Borrower under this Agreement or any other
      agreement with the Lender which is not remedied within 14 days after the
      date of such occurrence;                                                                                                             
| |     |                                                                                                                                                                                                                                                                                                 
| | (c) | if the Borrower defaults under any other material obligation to repay
      borrowed money;                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                 
| | (d) | if proceedings for the dissolution, liquidation or winding-up of the
      Borrower or for the suspension of the operations of the Borrower are
      commenced, unless such proceedings are being actively and diligently
      contested by the Borrower, as the case may be in good faith; or
| |     |                                                                                                                                                                                                                                                                                                 
| | (e) | in the event of the bankruptcy, liquidation or insolvency of the
      Borrower as the ease may be or if a receiver or receiver-manager is
      appointed for all or any part of the business or assets of the Borrower;
      and                                                             
| |     |                                                                                                                                                                                                                                                                                                 
| | (f) | if the Borrower ceases to carry on business.                                                                                                                                                                                                                                                    

Upon the occurrence of one or more events of default, the Lender
may declare the outstanding principal under the Loan to be immediately due and
payable.

Representations and Warranties:the Borrower
hereby represents and warrants to the Lender that:

| | (a) | it is duly incorporated and organized, is duly qualified to carry on
      business in the jurisdictions where it currently carries on business and
      as the full power, capacity and authority to carry on the business that it
      currently carries on;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                 
| | (b) | it has the power, capacity and authority to execute and deliver this
      Agreement and                                                                                                                                                                        

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| |     | the Note, where applicable, to comply with the provisions hereof and
      thereof and to duly perform and observe all of its obligations hereunder
      and thereunder;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | (c) | the execution, delivery and performance of this Agreement, the Note
      and every other instrument or agreement delivered pursuant hereto and
      thereto, have been duly authorized by all requisite action of the
      Borrower, and each of this Agreement, the Note and other such documents
      has been duly executed and delivered and constitutes a valid and binding
      obligation of the Borrower, enforceable in accordance with its respective
      terms, save as enforcement may be limited by Laws of general applicable
      governing the enforcement of rights by creditors and the availability of
      specific performance and other equitable remedies; and
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | (d) | the execution and delivery of this Agreement and the Note and the
      completion of the transactions contemplated by this Agreement, will not
      contravene any provisions of any law, regulation, order or permit
      applicable to the Borrower or conflict with contravene the constating
      documents of the Borrower, nor result in a breach of or constitute a
      default under or require any consent under any agreement or instrument to
      which the Borrower, is a party or by which it is bound.                                                                                                                                                                  

Affirmative Covenants:The Borrower hereby
covenants and agrees with the Lender that so long as any indebtedness hereunder
remains outstanding:

| | (a) | the Borrower will duly and punctually pay or cause to be paid to the
      Lender all amounts required to be paid to the Lender pursuant to this
      Agreement on the clay, at the place and in the manner set forth herein;               
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                              
| | (b) | the Borrower will duly observe and perform, in all material respects,
      each of the covenants and agreements set forth in this Agreement;                                                                                                
| |     |                                                                                                                                                                                                                                              
| | (c) | the Borrower will maintain its corporate existence and carry on and
      conduct its business in a proper and efficient manner;                                                                                                             
| |     |                                                                                                                                                                                                                                              
| | (d) | the Borrower will forthwith notify the Lender of any material action,
      suit or proceeding brought or threatened against or affecting the Borrower
      or any of the properties or assets of the Borrower;                             
| |     |                                                                                                                                                                                                                                              
| | (e) | the Borrower will forthwith notify the Lender of the occurrence of any
      event of default or any event of which it is aware which with notice or
      lapse of time or both or otherwise would constitute an event of default;
      and
| |     |                                                                                                                                                                                                                                              
| | (t) | the Borrower will duly observe and comply with all material
      requirements of any governmental authority relative to any of its
      properties and assets and the operation of its business.                                           

Expenses: The Borrower will pay all
commercially reasonable costs and expenses incurred from time to time in the
enforcement of this Agreement.

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Notices:All notices arid other
communications under this Agreement shall be in writing and shall be sent by
delivery, e-mail, or by facsimile transmission addressed as follows:

| | (a) | if to the Lender. to:                                                                            
| | --- | -------------------------------------------------------------------------------------------------
| |     |                                                                                                  
| |     | Thrilltime Entertainment International, Inc.                                                     
| |     | c/o Lang Michener LLP                                                                            
| |     | PO Box 11117, Royal Centre                                                                       
| |     | 1500  1055 West Georgia Street                                                                  
| |     | Vancouver, B.C. V6E 4N7                                                                          
| |     |                                                                                                  
| |     | Attention: David Cowan dcowan@lmls.com                                                           
| |     |                                                                                                  
| | (b) | if to the Borrower, to:                                                                          
| |     |                                                                                                  
| |     | Advanced Proteome Therapeutics Inc. 1200 Taylor Street, #14
      San Francisco, California 94108
| |     |                                                                                                  
| |     | Attention: Allen Krantzakrantz@ix.netcom.com                                                     

Severability:If any provision of this
Agreement is held by any court of competent jurisdiction to be invalid, void or
unenforceable, the remaining provisions shall remain in full force and
effect.

Government Law:This Agreement shall be
governed by the laws of the Province of British Columbia and the federal laws of
Canada applicable therein, and the parties hereto attorn to the jurisdiction of
the court of the Province of British Columbia.

Assignment:No party hereto may assign its
rights or obligations under this Agreement without the prior written consent of
the other party, such consent not to be unreasonably withheld.

Execution:This Agreement may be executed in
counterpart, by facsimile or otherwise, each of which shall be deemed to be an
original and all of which together shall be deemed to be one and the same
document.

Yours very truly,



THRILLTIME ENTERTAINMENT INTERNATIONAL, INC.

|Per: |                      | 
|---- | -------------------- | 
|     | Authorized Signatory | 

ACKNOWLEDGED AND AGREED TO THIS _____ DAY OF MAY, 2006



ADVANCED PROTEOME THERAPEUTICS INC.

|Per: |                            | 
|---- | -------------------------- | 
|     | Authorized
      Signatory | 

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