| Issuer: | Imagenetix      Inc. (the “Company”) |
|---------|--------------------------------------------------|

| Investors: | A      small number of Qualified Institutional Buyers/Accredited Investors      approved by the Company. |
|------------|----------------------------------------------------------------------------------------------------------|

| Issue: | A      mini-max offering of $500,000 - $600,000 Convertible Debentures with      Warrants (the “Units”) |
|--------|---------------------------------------------------------------------------------------------------------------------|

| Closing      Date: | May      25, 2010 |
|--------------------|-------------------|

| Unit    Price: | $25,000      per unit |
|----------------|-----------------------|

| TheUnit: | Each      Unit shall consist of one 7% Renewable Convertible Debenture with a face      amount of $25,000 plus a five-year warrant to purchase up to 12,500 shares      of common stock at $0.50 per share |
|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Minimum      Subscription: | $25,000 |
|----------------------------|---------|

| Interest      Rate: | The      Company shall pay quarterly in cash interest at an annual percentage rate      of 7%. The      quarterly payments will be due on January 1, April 1, July 1 and October 1      of each year. |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Renewable      Maturity: | Any portion of the 7%      Renewable Convertible Debenture plus accrued interest not paid or      converted previous to November 25, 2010 shall be due and paid in cash on      November 25, 2010.  At the option of the      investor, the 7% Renewable Convertible Debenture plus accrued      interest not paid or converted as of November 25, 2010 may be renewed for      successive six month terms (May 25 and November 25) until May 25, 2013 at      which time all principal and accrued interest not converted shall be due      and payable. |
|--------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Call and      Conversion | At the Company’s option,      the Company may call the 7% Renewable Convertible Debenture for cash at      any time up to November 25, 2010 providing the Company pays a 7% premium      to the Investor which shall be in addition to any accrued interest through      the date of the call.  Subsequent to November 25, 2010, until      paid, converted or May 25, 2013, at the option of the      Investor, the Investor may convert the 7% Renewable Convertible      Debenture into common shares of the Company at a conversion price of $.50      per share. |
|--------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Additional      Warrant | If      the Company does not call the note on or before November 25, 2010, a      second five-year warrant to purchase up to 12,500 shares of common stock      at $0.50 per share shall be issued to the investor on November 25,      2010. |
|-------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Registration: | The      Company shall not be required to register either the common stock issuable      on the conversion of the note or the common stock purchase      warrants.  The investor may sell his shares received as a matter      of conversion subject to Rule 144 after a period of at least six months      from the date payment was made to the company of the principal amount      (tracking period) and may sell his shares received as a matter of      converting warrants, six months after the issuance of the warrant      shares. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Over      allotment: | At      the Company’s discretion, any subscription amounts in excess of the      maximum offering amount may be accepted on the same terms as the offering      or pro-rated based on the percentage total subscriptions bears to the      maximum offering amount. |
|----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Subsciption: | Dollar      amount   $__________ |
|--------------|-------------------------------------------------|

| Investor: | Name                 __________________ |
|-----------|------------------------------------------------------------------------------------------------------------------------------|

|   | Address              __________________ |
|--------|---------------------------------------------------------------------------------------------------------------|

|   | City,      State, .Zip__________________ |
|--------|------------------------------------------|

|   | Phone                 __________________ |
|--------|-------------------------------------------------------------------------------------------------------------------------------|

|   | Taxpayer      ID#   __________________ |
|--------|-------------------------------------------------------|

|   | Signature           __________________ |
|--------|-----------------------------------------------------------------------------------------------|

|   | Date                 ___________________ |
|--------|-------------------------------------------------------------------------------------------------------------------------------|

| By                     |   |
|------------------------|--------|
|                   |   |
|                   |   |
| William      Spencer   |   |
| President      and CEO |   |

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