Exhibit 10.4

Intellectual Property Transfer Agreement

This is an agreement between PowerVerde, Inc., hereinafter PV,
a public corporation with its principal office at Phoenix, AZ, and Edward C. Gomez, hereinafter Gomez, an individual, residing at Benicia, CA, regarding the transfer of ownership of certain patents and other intellectual property owned
by the Vyrex Corporation prior to merger and name change to PowerVerde, Inc. Gomez may assign this agreement to any entity controlled by him at transfer.

Whereas PV has changed its principal activities to new technological area and has no further interest or budget to continuing to develop intellectual properties in the pharmacological and neutraceutical fields, but retains ownership of
certain patents and other intellectual property developed prior to its merger, hereinafter VyrexIP, which properties are listed on Exhibit A and Exhibit B, and

Whereas Gomez has expertise in the fields of medicine and biochemistry and wishes to acquire and develop said VyrexIP and has advanced to PV as loans sums used to pay patent fees and prevent the loss of the VyrexIP.

PV and Gomez hereby agree that:



| | 1. | PV will assign to Gomez or assigns all patents contained in Exhibits A and B and any information in its possession relating to said intellectual properties.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Gomez shall assume ownership of the VyrexIP and shall be responsible for all future fees and professional fees.
| | -- | ---------------------------------------------------------------------------------------------------------------



| | 3. | Gomez shall provide to PowerVerde, Inc. a residual 20% of net royalty income and any other net income from the Vyrex IP as hereinafter defined in Exhibit C.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | Gomez shall advise PV in writing of any intent to abandon any part of the VyrexIP and hereby grants to PV the right to recover, without payment, sole ownership of any such
intellectual property.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | PV will assign its rights to the name VYREX to Gomez for use in conjunction with its activities with VyrexIP.
| | -- | ---------------------------------------------------------------------------------------------------------------



| | 6. | Gomez hereby forgives all sums previously advanced to PV for the payment of fees on behalf of PV.
| | -- | -------------------------------------------------------------------------------------------------

This agreement is the complete agreement between the parties regarding all services and supersedes any prior discussions and expectations.

This agreement may not be changed except in writing and all changes require the consent of both parties.

This agreement is
separate and apart from any other agreement between the parties and any agreement with any entity of which either party is a part.

This agreement shall be
construed under the laws of the State of California. Any portion of this agreement that is found by a court of competent jurisdiction to be contrary to the Laws of the United States or of the State of California shall be severed from the remainder
of the agreement and shall be null and void without effect upon the remaining portion of the agreement.



|                                |  |                   |  |                     |  |                    
|------------------------------- |  | ----------------- |  | ------------------- |  | -------------------
|For PowerVerde, Inc.            |  |                   |  | For Edward C. Gomez
|                                |  |                   | 
|By:                             |  | /s/ George Konrad |  |                     |  | /s/ Edward C. Gomez
|Director    Date: March 4, 2009 |  |                   |  | Date: March 4, 2009



---

Exhibit A:

Townsend
and Townsend and Crew LLP

2175 N. California Blvd., Suite 600

Walnut Creek, CA 94596

Phone: 925-472-5000



|                                |  |                                                             |  |                                                       |  |                            |  |                         |  |                                                                                      |  |                             |      
|------------------------------- |  | ----------------------------------------------------------- |  | ----------------------------------------------------- |  | -------------------------- |  | ----------------------- |  | ------------------------------------------------------------------------------------ |  | --------------------------- | -----
|ITC Ref CountryATTY(s) Handling |  | Title                                                       |  | Inventor                                              |  | Application No.Filing Date |  | Patent No.Issue Date    |  | Status Remarks                                                                       |  | Estimate ofAnticipatedCosts
|014742-000100US (EGW)           |  | Method for Inhibiting Viral and Retroviral Infections       |  |                                                       |  | 07/38113207/14/1989        |  | 498546501/15/1991       |  | Granted                                                                              |  |                             |      
|                                |  |                                                             |  |                                                       |  |                           
|014742-000500US (EGW)           |  | Tocopherol-Based Anti-Viral Agents and Method of Using Same |  | Hendler, Sheldon S. Sanchez, Robert
A.                |  | 07/52063305/08/1990        |  | 511495705/19/1992       |  |                                                                                      |  |                             |      
|                                |  |                                                             |  |                                                       |  |                           
|914742-000730US (EGW)           |  | Antiviral Agents                                            |  | Hendler, Sheldon S.                                   |  | 08/80855402/28/1997        |  | 598160311/09/1999       |  | Granted Annuity: Next: 05/09/2011 Annuity: End of Grace (Final Deadline): 11/09/2011 |  | $                           | 2,410
|                                |  |                                                             |  |                                                       |  |                           
|014742-003200US (EGW)           |  | Water Soluble Pro-Drugs of Propofol                         |  | Hendler, Sheldon S. Sanchez, Robert
A. Zielinski, Jan |  | 09/07535605/08/1998        |  | 625485307/03/2001       |  | Granted Annuity: Next: 01/03/2009 Annuity: End of Grace (Final Deadline): 07/03/2009 |  | $                           | 1,510
|                                |  |                                                             |  |                                                       |  |                           
|014742-003210AU (EGW)           |  | Water Soluble Pro-Drugs of Propofol                         |  | Hendler, Sheldon S. Sanchez, Robert
A. Zielinski, Jan |  | 37894/9905/07/1999         |  | 76556901/15/2004        |  | Granted Annuity: Next: 05/07/2009 Annuity: End of Grace (Final Deadline): 11/07/2009 |  | $                           | 749  
|                                |  |                                                             |  |                                                       |  |                           
|014742-003210CA (EGW)           |  | Water Soluble Pro-Drugs of Propofol                         |  | Hendler, Sheldon S. Sanchez, Robert
A. Zielinski, Jan |  | 233137105/07/1999          |  |                         |  | Pending Annuity: Next: 05/07/2009 Annuity: End of Grace (Final Deadline). 05/07/2010 |  | $                           | 685  
|                                |  |                                                             |  |                                                       |  |                           
|014742-003210DE (EGW)           |  | Water Soluble Pro-Drugs of Propofol                         |  | Hendler, Sheldon S. Sanchez, Robert
A. Zielinski, Jan |  | 99920385.405/07/1999       |  | 69910560.9-0808/20/2003 |  | Granted Annuity: Next: 05/07/2009 Annuity. End of Grace (Final Deadline): 11/07/2009 |  | $                           | 1,180
|                                |  |                                                             |  |                                                       |  |                           
|014742-003210EP (EGW)           |  | Water Soluble Pro-Drugs of Propofol                         |  | Hendler, Sheldon S. Sanchez, Robert
A. Zielinski, Jan |  | 99920385.405/07/1999       |  | 107548908/20/2003       |  | Granted                                                                              |  |                             |      
|                                |  |                                                             |  |                                                       |  |                           
|014742-003210ES (EGW)           |  | Water Soluble Pro-Drugs of Propofol                         |  | Hendler, Sheldon S. Sanchez, Robert
A. Zielinski, Jan |  | 99920385.405/07/1999       |  | 107548908/20/2003       |  | Granted Annuity: Next: 05/07/2009 Annuity: End of Grace (Final Deadline): 11/07/2009 |  | $                           | 770  



1



---

|                                 |  |                                                              |  |                                                       |  |                            |  |                      |  |                                                                                      |  |                             |      
|-------------------------------- |  | ------------------------------------------------------------ |  | ----------------------------------------------------- |  | -------------------------- |  | -------------------- |  | ------------------------------------------------------------------------------------ |  | --------------------------- | -----
|ITC Ref Country ATTY(s) Handling |  | Title                                                        |  | Inventor                                              |  | Application No.Filing Date |  | Patent No.Issue Date |  | Status Remarks                                                                       |  | Estimate ofAnticipatedCosts
|014742-003210FR (EGW)            |  | Water Soluble Pro-Drugs of Propofol                          |  | Hendler, Sheldon S. Sanchez, Robert A. Zielinski, Jan |  | 99920385.405/07/1999       |  | 107548908/20/2003    |  | Granted Annuity: Next: 05/07/2009 Annuity: End of Grace (Final Deadline): 11/07/2009 |  | $                           | 787  
|                                 |  |                                                              |  |                                                       |  |                           
|014742-003210GB (EGW)            |  | Water Soluble Pro-Drugs of Propofol                          |  | Hendler, Sheldon S. Sanchez, Robert A. Zielinski, Jan |  | 99920385.405/07/1999       |  | 107548908/20/2003    |  | Granted Annuity: Next: 05/07/2009 Annuity: End of Grace (Final Deadline): 11/07/2009 |  | $                           | 718  
|                                 |  |                                                              |  |                                                       |  |                           
|014742-DG0100US (EGW)            |  | Method for Inhibiting Viral and Retroviral Infections        |  |                                                       |  | 07/38113207/14/1989        |  | 498546501/15/1991    |  | Granted                                                                              |  |                             |      
|                                 |  |                                                              |  |                                                       |  |                           
|014742-003210IE (EGW)            |  | Water Soluble Pro-Drugs of Propofol                          |  | Hendler, Sheldon S. Sanchez, Robert A. Zielinski, Jan |  | 99920385.405/07/1999       |  | 107548908/20/2003    |  | Granted Annuity Next. 09/07/2009 Annuity: End of Grace (Final Deadline): 11/07/2009  |  | $                           | 821  
|                                 |  |                                                              |  |                                                       |  |                           
|014742-003210IT (EGW)            |  | Water Soluble Pro-Drugs of Propofol                          |  | Hendler, Sheldon S. Sanchez, Robert A. Zielinski, Jan |  | 99926385.405/07/1999       |  | 107548908/20/2003    |  | Granted Annuity: Next: 05/07/2009 Annuity: End of Grace (Final Deadline): 11/07/2009 |  | $                           | 906  
|                                 |  |                                                              |  |                                                       |  |                           
|014742-00321OJP (EGW)            |  | Water Soluble Pro-Drugs of Propofol                          |  | Hendler, Sheldon S. Sanchez, Robert A. Zielinski, Jan |  | 2000-54835705/07/1999      |  |                      |  | Pending Published                                                                    |  |                             |      
|                                 |  |                                                              |  |                                                       |  |                           
|014742-003210PC (EGW)            |  | Water Soluble Pro-Drugs of Propofol                          |  | Hendler, Sheldon S. Sanchez, Robert A. Zielinski, Jan |  | 99/1001305/07/1999         |  |                      |  | Pending Nat. phase                                                                   |  |                             |      
|                                 |  |                                                              |  |                                                       |  |                           
|014742-004400JP (EGW)            |  | Water Soluble Prodrugs of Propofol for Treatment of
Migraine |  | Hendler, Sheldon S.                                   |  | 2002-51895608/14/2001      |  |                      |  | Pending Published                                                                    |  |                             |      
|                                 |  |                                                              |  |                                                       |  |                           
|014742-004400PC (EGW)            |  | Water Soluble Prodrugs of Propofol for Treatment of
Migraine |  | Hendler, Sheldon S.                                   |  | 01/2554008/14/2001         |  |                      |  | Pending Nat. phase                                                                   |  |                             |      
|                                 |  |                                                              |  |                                                       |  |                           
|014742-004400US (EGW)            |  | Water Soluble Prodrugs of Propofol for Treatment of
Migraine |  | Hendler, Sheldon S.                                   |  | 09/63901508/15/2000        |  | 635223403/26/2002    |  | Granted Annuity: Next: 09/26/2009 Annuity: End of Grace (Final Deadline): 03/26/2010 |  | $                           | 1,510



2



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Exhibit B:

Martin
Fessenmaier. Ph.D.

Fish & Associates, PC

2603
Main Street, Suite 1050

Irvine, CA 92614-6232

Direct:
949-705-0973



|(1) | 100487.0001US1: Boron Carbohydrate Complexes and Uses Thereof; issued as US Pat. No. 5,962,049.
|--- | -------------------------------------------------------------------------------------------------



|(2) | 100487.0011US2: Isoflavone Derivatives; issued as US Pat. No. 6,541,613
|--- | -------------------------------------------------------------------------



|(3) | 100487.0011US1: Isoflavone Derivatives; issued as US Pat. No. 6,958,156
|--- | -------------------------------------------------------------------------



|(4) | 100487.0011US4: Isoflavone Derivatives; pending and published as US 2006-0251592 A1
|--- | -------------------------------------------------------------------------------------



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Exhibit C:

For
purposes of this agreement, Net Royalty Income is defined as gross income from commercialization of the patents (Gross Royalty Income) less direct expenses of maintaining and commercializing the patents (Direct Expenses). Direct Expenses
includes all sums expended, accrued, or capitalized directly relating to maintenance or commercialization of the patents.

For purposes of this agreement,
Other Net Income is defined as gross income from commercialization of the patents (Gross Income), other than royalties, less direct expenses of maintaining and commercializing the patents (Direct Expenses). Direct Expenses includes all
sums expended, accrued, or capitalized directly relating to maintenance or commercialization of the patents.