Exhibit
10.87

# FIRST
AMENDMENT TO SECURITIES PURCHASE AGREEMENT

This First
Amendment (this Amendment) to that certain Securities
Purchase Agreement (the Agreement), dated December 13, 2005, by and
among Global Med Technologies, Inc., a Colorado corporation (the
Company) and each purchaser set forth on the signature pages
thereto and hereto (each, including its successors and assigns, a
Purchaser, collectively the Purchasers and
together with the Company, the Parties and each a
Party) is made effective as of March 29, 2006.

# WITNESSTH:

WHEREAS,
the Parties desire to amend the Agreement as set forth herein.

NOW,
THEREFORE, in consideration of the mutual promises, conditions and covenants
contained herein and in the Agreement, and for other good and valuable
consideration, receipt of which is hereby acknowledged, the Parties hereto agree
as follows:

# AMENDMENT:

1.    Amendment to Section 1.1. The Agreement is hereby amended by deleting the
definition of "Registration Rights Agreement" in its entirety and by
inserting in lieu thereof the following:

| | Registration
Rights Agreement means the Registration Rights Agreement, dated the  date
hereof and all subsequent Amendments thereto, by and among the Company and  the
Purchasers, in for the form of Exhibit B attached hereto.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

2.    Amendment to Section 4.1. The Agreement is hereby amended by deleting Section
4.1.(d) in its entirety and by inserting in lieu thereof the following:

| | (d)
In addition to such Purchasers other available remedies, the Company shall  pay to
a Purchaser, in cash, as partial liquidated damages and not as a penalty,  for each
$1,000 of Underlying Shares (based on the VWAP of the Common Stock on  the date such
Securities are submitted to the Companys transfer agent)  delivered for removal of
the restrictive legend and subject to Section 4.1(c),  $10 per Trading Day (increasing to
$20 per Trading Day 5 Trading Days after such  damages have begun to accrue) for each
Trading Day beginning on the third  Trading Day after the Legend Removal Date until such
certificate is delivered  without a legend. Nothing herein shall limit such Purchasers
right to  pursue actual damages for the Companys failure to deliver certificates
representing any Securities as required by the Transaction Documents, and such  Purchaser
shall have the right to pursue all remedies available to it at law or  in equity
including, without limitation, a decree of specific performances  and/or injunctive
relief. For each individual Holder, liquidated damages under  this clause will be limited
to no more than 24% of the Stated Value of the  Series A Convertible Preferred Stock held
by such Purchaser on December 16,  2005.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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3.    Full Force and Effect. Except as expressly amended herein, all other terms and
provisions of the Agreement shall remain in full force and effect and are hereby
ratified and confirmed in all respects.

4.    Counterparts. This Amendment may be executed in one or more counterparts, each of
which such counterparts shall be deemed an original and all of which together shall
constitute one and the same Amendment.

5.    Further Amendments. The Agreement shall further be amended wherever appropriate to
reflect the changes indicated above.

6.    Recital. The Recital hereto is hereby incorporated into this Amendment as if fully
stated herein.

REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

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IN
WITNESS WHEREOF,each Party has executed this First Amendment to the
Securities Purchase Agreement as of the date first written above.

|GLOBAL MED TECHNOLOGIES, INC.   |  | Address for Notice:            | 
|------------------------------- |  | ------------------------------ | 
|By:  /s/ Michael I. Ruxin, M.D. |  | 12600 West Colfax, Suite C-420 | 
|Name:  Michael I. Ruxin, M.D.   |  | Lakewood, CO 80215             | 
|Title: Chairman and CEO         |  | Phone: (303) 238-2000          | 
|                                |  | Fax: (303) 238-3368            | 
|                                |  |                                | 

With a
copy to (which shall not constitute notice):

Name of
Purchaser: Magnetar Capital Master Fund, LLCSignature of Authorized Signatory of
Purchaser: /s/ Paul SmithName of Authorized Signatory: Paul SmithTitle of
Authorized Signatory: General CounselEmail Address of Purchaser: notices@magnetar.com

Name of
Purchaser: Crestview Capital Master Fund, LLCSignature of Authorized Signatory of
Purchaser: /s/ Robert HoytName of Authorized Signatory: Robert HoytTitle of
Authorized Signatory: Managing MemberEmail Address of Purchaser: bob@crestviewcap.com

Name of
Purchaser: Fusion Capital Fund II, LLCSignature of Authorized Signatory of Purchaser:
/s/ Joshua B. SchienfeldName of Authorized Signatory:  Joshua B. SchienfeldTitle of
Authorized Signatory: PresidentEmail Address of Purchaser: jschienfeld@fusioncapital.com

Name of
Purchaser: Enable Growth PartnersSignature of Authorized Signatory of Purchaser:
/s/ Mitch LevineName of Authorized Signatory: Mitch LevineTitle of Authorized
Signatory: Managing PartnerEmail Address of Purchaser: mlevine@enablecapital.com

Name of
Purchaser: Enable Opportunity PartnersSignature of Authorized Signatory of Purchaser:
/s/ Mitch LevineName of Authorized Signatory: Mitch LevineTitle of Authorized
Signatory: Managing PartnerEmail Address of Purchaser: mlevine@enablecapital.com

Name of
Purchaser: Shepherd Investments International, LTDSignature of Authorized Signatory
of Purchaser: Michael A. RothName of Authorized Signatory: Michael A. RothTitle
of Authorized Signatory: Managing Member of its Investment ManagerEmail Address of
Purchaser: bdavidson@sf-capital.com

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