Document:

<PAGE>   1
                                                                   Exhibit 10.88

                           PLACEMENT AGENCY AGREEMENT

         THIS AGREEMENT ("AGREEMENT"), made as of the 14 day of June, 2000, by
and between BioShield Technologies, Inc., a Georgia corporation ("COMPANY"), and
J.P. Carey Securities, Inc.,(the "AGENT").

                                   WITNESSETH:

         WHEREAS, the Company proposes to issue and sell to certain investors
(the "INVESTORS") shares of Series B Preferred Stock, par value $0.001 per share
("PREFERRED STOCK") and Warrants resulting in gross proceeds up to $10,000,000
(the Preferred Stock and Warrants to be sold, hereinafter referred to as the
"SECURITIES") (the "OFFERING") not involving a public offering without
registration under the Securities Act of 1933, as amended (the "'33 ACT"),
pursuant to exemptions from the registration requirements of the Act under
Regulation D promulgated under the Act ("REGULATION D"), as described below; and

         WHEREAS, the Agent has offered to assist the Company in placing the
Securities on a "best efforts basis," and the Company desires to secure the
services of the Agent on the terms and conditions hereinafter set forth;

                                   AGREEMENT

         NOW, THEREFORE, in consideration of the premises and the mutual
promises, conditions and covenants herein contained, the parties hereto do
hereby agree as follows:

         1. Engagement of Agent. The Company hereby appoints the Agent, as its
non-exclusive placement agent for the Offering, to sell up to $10,000,000 of
securities (the "MAXIMUM SECURITIES") on a "best efforts basis," resulting in
gross proceeds to the Company of up to $10,000,000. The Offering shall be made
in one tranche (the "TRANCHE"). The Agent, subject to the terms and conditions
herein set forth, accepts such appointment and agrees to use its best efforts to
find purchasers for the Securities.

         2. Representations and Warranties of the Company. In order to induce
the Agent to enter into this Agreement, the Company hereby represents and
warrants to and agrees with the Agent as follows:

         2.1 Offering Documents. The Company and the Investors have prepared a
Securities Purchase Agreements, Registration Rights Agreement and certain
exhibits thereto in connection with the sale of the Securities, which documents
have been or will be sent to the Investors. As used in this Agreement, the term
"Offering Documents" refers to and means the Securities Purchase Agreement,
Registration Rights Agreements, and certain exhibits thereto and all amendments,
exhibits and supplements thereto, together with any other documents which are
provided to the Agent by, or approved for Agent's use by, the Company for the
purpose of this Offering.

                                      -1-
<PAGE>   2
         2.2 Provision of Offering Documents. The Company shall deliver to the
Agent, without charge, as many copies of the Offering Documents as the Agent may
reasonably require for the purposes contemplated by this Agreement. The Company
authorizes the Agent, in connection with the Offering of the Securities, to use
the Offering Documents as from time to time amended or supplemented in
connection with the offering and sale of the Securities and in accordance with
the applicable provisions of the '33 Act and Regulation D. The Company consents
to the Agent's distribution of the Offering Documents to the Investor as a
disclosure document about the Company, its business, prospects, financial
condition and other matters.

         2.3 Accuracy of Offering Documents. The Offering Documents, at the time
of filing, conformed in all material respects with the requirements, to the
extent applicable, of the '34 Act and the applicable Rules and Regulations and
did not include any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not
misleading. On each Closing Date (as hereinafter defined), the Offering
Documents will contain all statements which are required to be stated therein in
accordance with the '34 Act and the Rules and Regulations for the purposes of
the proposed Offering, and all statements of material fact contained in the
Offering Documents will be true and correct, and the Offering Documents will not
include any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading;
provided, however, that the Company does not make any representations or
warranties as to the information contained in or omitted from the Offering
Documents in reliance upon written information furnished on behalf of the Agent
or the Investors specifically for use therein.

         2.4 Duty to Amend. If during such period of time as in the opinion of
the Agent or its counsel any Offering Documents relating to this offering are
required to be delivered under the '34 Act, any event occurs or any event known
to the Company relating to or affecting the Company shall occur as a result of
which the Offering Documents as then amended or supplemented would include an
untrue statement of a material fact, or omit to state any material fact
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading, or if it is necessary at any time after
the date hereof to amend or supplement the Offering Documents to comply with the
'34 Act or the applicable Rules and Regulations, the Company shall forthwith
notify the Agent thereof and shall prepare such further amendment or supplement
to the Offering Documents as may be required and shall furnish and deliver to
the Agent and to others, whose names and addresses are designated by the Agent,
all at the cost of the Company, a reasonable number of copies of the amendment
or supplement or of the amended or supplemented Offering Documents which, as so
amended or supplemented, will not contain an untrue statement of a material fact
or omit to state any material fact necessary in order to make the Offering
Documents not misleading in the light of the circumstances when it is delivered
to the Investor and which will comply in all respects with the requirements (to
the extent applicable) of the '34 Act and the applicable Rules and Regulations.

                                      -2-
<PAGE>   3
         2.5 Incorporation and Standing. The Company is, and at each Closing
Date will be, duly formed and validly existing in good standing as a corporation
under the laws of the State of Delaware and with full power and authority
(corporate and other) to own its properties and conduct its business, present
and proposed, as described in the Offering Documents; the Company, has full
power and authority to enter into this Agreement; and the Company is duly
qualified and in good standing as a foreign entity in each jurisdiction in which
the failure to so qualify would have a material adverse effect on the Company or
its properties.

         2.6 Legality of Outstanding Securities. Prior to each Closing Date, the
outstanding securities of the Company have been duly and validly authorized and
issued, fully paid and nonassessable and conform in all material respects to the
statements with regard thereto contained in the Offering Documents.

         2.7 Legality of Securities. The Securities, when sold and delivered,
will constitute legal, valid and binding obligations of the Company, enforceable
in accordance with the terms thereof, and shall be duly and validly issued and
outstanding, fully paid and nonassessable. The Securities, when issued, shall be
duly and validly issued and outstanding, fully paid and non-assessable.

         2.8 Litigation. Except as set forth in the Offering Documents, there is
now, and at each Closing Date there will be, no action, suit or proceeding
before any court or governmental agency, authority or body pending or, to the
knowledge of the Company, threatened, which might result in judgements against
the Company not adequately covered by insurance or which collectively might
result in any material adverse change in the condition (financial or otherwise)
or business of the Company or which would materially adversely affect the
properties or assets of the Company.

         2.9 Authority. The execution and delivery by the Company of this
Agreement have been duly authorized by all necessary action, and this Agreement
is the valid, binding and legally enforceable obligation of the Company subject
to standard qualifications as to the availability of equitable remedies, the
effect of bankruptcy and other laws relating to the protection of debtors and
public policy opinions promulgated by the Commission with respect to
indemnification against liabilities under the '33 Act.

         3.       Issue, Sale and Delivery of the Securities.

         3.1 Deliveries of Securities. Certificates in such form that, subject
to applicable transfer restrictions as described in the Securities Purchase
Agreement, they can be negotiated by the Investor for the Securities, and
warrants representing the Agent's warrant compensation described in Section 3.4
below ("WARRANTS"), shall be delivered by the Company to the Escrow Agent, with
copies made available to the Agent for checking at least one (1) full business
day prior to the first Closing Date. The certificates for the Securities and the
Warrants shall be delivered at the Closing (as defined hereinafter).

                                      -3-
<PAGE>   4
         3.2 Escrow of Funds. Pursuant to the Escrow Agreement, a copy of which
is attached hereto as Exhibit "B" (the "ESCROW AGREEMENT"), executed by the
Company, the Agent and the escrow agent (the "ESCROW AGENT"), the Investor shall
place all funds for purchase of Securities and the Company will place the
Securities for each Closing in an escrow account set up by the Escrow Agent.
Upon each Closing, Escrow Agent shall release the subscription funds to the
Company and the certificates representing the Securities shall be released by
the Company to the Investor (the "CLOSING").

         3.3 Closing Date. Each Closing shall take place at the offices of Sims
Moss Kline & Davis LLP, 400 Northpark Town Center, Suite 310, 1000 Abernathy
Road, NE, Atlanta, Georgia 30328 at such time and date ("CLOSING DATE") as
mutually agreed by the Company and the Agent. The Closing Date may be changed by
mutual agreement of the Investor and the Company.

         3.4      Agent's Compensation.  The Company shall pay the Agent:

                  (a) A commission of six percent (6%) of the gross subscription
         proceeds (the "AGENT FEE") for the Tranche (the "GROSS PROCEEDS") to be
         paid upon Closing on the Closing Date;

                  (b) In lieu of any other compensation, a commission of six
         percent (6%) of each draw down of funds by the Company pursuant to the
         Equity Line Credit Agreement, dated as of July, 1999 ("1999 Equity
         Line"), as amended and a commission of two and one half percent (2
         -1/2%) of each draw down of funds by the Company pursuant to the Equity
         Line Credit Agreement, dated as of even date herewith (collectively,
         the "Equity Lines").

                  (c) In addition to the fees and reimbursement of costs set
         forth in Sections 3.4 and 3.5 of this Agreement, the Company shall
         issue to the Agent (as defined below) warrants to purchase shares of
         common stock of Electronic Medical Distribution, Inc. ("eMD") in an
         amount equal to warrants to purchase 10,000 shares of common stock of
         eMD for each $1,000,000 of Gross Proceeds resulting from the 1999
         Equity Line, which shall be exercisable for the common stock of eMD on
         a one-for-one basis at a price per share of $4.67 per share, subject to
         adjustment for stock splits, recapitalizations and similar
         transactions. In addition, at the Closing Date, assuming the Maximum
         Securities is sold, the Agent shall be entitled to receive from the
         Company a warrant to purchase 100,000 shares of the Common Stock of the
         Company at a purchase price per share of $19.70. Each of the warrants
         shall have cashless exercise provisions. The term of the warrants shall
         be five years. The Agent and any sub-agent by way of transfer or
         assignment, agrees to enter into any contractual lock-up agreements
         which may be required by the Company's underwriters in connection with
         an underwritten public offering of the Company's Securities or other
         securities. The Agent shall be responsible for paying any other agent
         or sub-agent fee, including, but not limited to, Greenfield Capital
         Partners, LLC.

                                      -4-
<PAGE>   5
         3.5 Payment of Fees. The Escrow Agent shall be instructed to pay all
fees and cost reimbursements and Warrants pursuant to section 3.4 of this
Agreement, directly to the Agent from the Gross Proceeds of the Closing,
simultaneously with the transfer of Gross Proceeds to the Company.

                                      -5-
<PAGE>   6
         4.       Offering of the Securities on Behalf of the Company.

         4.1 In offering the Securities for sale, the Agent shall offer them
solely as an agent for the Company, and such offer shall be made upon the terms
and subject to the conditions set forth in the Offering Documents. The Agent
shall commence making such offer as an agent for the Company as soon as possible
following delivery of the Offering Documents or in any manner inconsistent with
federal or state securities laws.

         4.2 The Agent will not make offers to sell the Securities to, or
solicit offers to subscribe for any Securities from, persons or entities that
are not "accredited investors" as defined in Regulation D.

         5.       Confidentiality/Protection of Clients.

         5.1 The Company agrees to maintain the confidentiality of the Agent's
clients, except as required by applicable law. Such clients shall be those
entities which invest or have been offered an opportunity to invest by the Agent
in the Offering (the "CLIENTS"). For a period of two years from the Closing, the
Company will not solicit or enter into any financing transaction with the
Clients without the written consent of Agent and payment to Agent compensation
no less than the compensation to be paid to Agent hereunder for raising a like
amount. The restrictions on the Company and Agent's right to compensation
described in the preceding sentence shall not apply to any Clients included in a
financing transaction as the result of the efforts of an agent or other
intermediary other than Agent.

         5.2 In the event that Company breaches Section 5.1 of this Agreement,
Agent shall be entitled to receive compensation in the same proportion to the
financing done without Agent's participation as the compensation to Agent under
this Agreement bears to the financing raised in this Offering.

         6.       Covenants of the Company.  The Company covenants and agrees
with the Agent that:

         6.1 After the date hereof, the Company will not at any time, prepare
and distribute any amendment or supplement to the Offering Documents, of which
amendment or supplement the Agent shall not previously have been advised and the
Agent and its counsel furnished with a copy within a reasonable time period
prior to the proposed adoption thereof, or to which the Agent shall have
reasonably objected in writing on the ground that it is not in compliance with
the '34 Act or the Rules and Regulations (if applicable).

         6.2 The Company will pay, whether or not the transactions contemplated
hereunder are consummated or this Agreement is prevented from becoming effective
or is terminated, all costs and expenses incident to the performance of its
obligations under this Agreement, including all expenses incident to the
authorization of the Securities and their issue and delivery to the Agent, any
original issue taxes in connection therewith, all transfer taxes, if any,
incident to the initial sale of the

                                      -6-
<PAGE>   7
Securities, the fees and expenses of the Company's counsel (except as provided
below) and accountants, the cost of reproduction and furnishing to the Agent
copies of the Offering Documents as herein provided; provided, however, that the
Company shall not be responsible for the payment of fees and costs incurred by
Agent, including attorney's fees of or any costs incurred by the Agent's
counsel.

         6.3 The Company shall be responsible for making any and all filings
required by the Blue Sky authorities and filings required by the laws of the
jurisdictions in which Investor is located, if any.

         7.       Indemnification.

         7.1 The Company agrees to indemnify and hold harmless the Agent, each
person who controls the Agent within the meaning of Section 15 of the '33 Act
and the Agent's employees, accountants, attorneys and agents (the "AGENT'S
INDEMNITEES") against any and all losses, claims, damages or liabilities, joint
or several, to which they or any of them may become subject under the '33Act or
any other statute or at common law for any legal or other expenses (including
the costs of any investigation and preparation) incurred by them in connection
with any litigation, whether or not resulting in any liability, but only insofar
as such losses, claims, damages, liabilities and litigation arise out of or are
based upon any untrue statement of material fact contained in the Offering
Documents or any amendment or supplement thereto or any application or other
document filed in any state or jurisdiction in order to qualify the Securities
under the Blue Sky or securities laws thereof, or the omission to state therein
a material fact required to be stated therein or necessary to make the
statements therein, under the circumstances under which they were made, not
misleading, all as of the date of the Offering Documents or of such amendment as
the case may be; provided, however, that the indemnity agreement contained in
this Section 7.1 shall not apply to amount paid in settlement of any such
litigation, if such settlements are made without the consent of the Company, nor
shall it apply to the Agent's Indemnitees in respect to any such losses, claims,
damages or liabilities arising out of or based upon any such untrue statement or
alleged untrue statement or any such omission or alleged omission, if such
statement or omission was made in reliance upon information furnished in writing
to the Company by the Agent specifically for use in connection with the
preparation of the Offering Documents or any such amendment or supplement
thereto or any application or other document filed in any state or jurisdiction
in order to qualify the Securities under the Blue Sky or securities law thereof.
This indemnity agreement is in addition to any other liability which the Company
may otherwise have to the Agent's Indemnitees. The Agent's Indemnitees agree,
within ten (10) days after the receipt by them of written notice of the
commencement of any action against them in respect to which indemnity may be
sought from the Company under this Section 7.1, to notify the Company in writing
of the commencement of such action; provided, however, that the failure of the
Agent's Indemnitees to notify the Company of any such action shall not relieve
the Company from any liability which it may have to the Agent's Indemnitees on
account of the indemnity agreement contained in this Section 7.1, and further
shall not relieve the Company from any other liability which it may have to the
Agent's Indemnitees, and if the Agent's Indemnitees shall notify the Company of
the commencement thereof, the Company

                                      -7-
<PAGE>   8
shall be entitled to participate in (and, to the extent that the Company shall
wish, to direct) the defense thereof at its own expense, but such defense shall
be conducted by counsel of recognized standing and reasonably satisfactory to
the Agent's Indemnitees, defendant or defendants, in such litigation. The
Company agrees to notify the Agent's Indemnitees promptly of the commencement of
any litigation or proceedings against the Company or any of the Company's
officers or directors of which the Company may be advised in connection with the
issue and sale of any of the Securities and to furnish to the Agent's
Indemnitees, at their request, to provide copies of all pleadings therein and to
permit the Company's Indemnitees to be observers therein and apprise the Agent's
Indemnitees of all developments therein, all at the Company's expense.

         7.2 The Agent agrees, in the same manner and to the same extent as set
forth in Section 7.1 above, to indemnify and hold harmless the Company, each
person who controls the Company within the meaning of Section 15 of the '33 Act
and the Company's and Company's employees, accountants, attorneys and agents
(the "COMPANY'S INDEMNITEES") with respect to (i) any statement in or omission
from the Offering Documents or any amendment or supplement thereto or any
application or other document filed in any state or jurisdiction in order to
qualify the Securities under the Blue Sky or securities laws thereof, or any
information furnished pursuant to this Agreement, if such statement or omission
was made in reliance upon information furnished in writing to the Company by the
Agent on its behalf specifically for use in connection with the preparation
thereof or supplement thereto, or (ii) any untrue statement of a material fact
made by the Agent or its agents not based on statements in the Offering
Documents or authorized in writing by the Company, or with respect to any
misleading statement made by the Agent or its agents resulting from the omission
of material facts which misleading statement is not based upon the Offering
Documents, or information furnished in writing by the Company or, (iii) any
breach of any representation, warranty or covenant made by the Agent in this
Agreement. The Agent shall not be liable for amounts paid in settlement of any
such litigation if such settlement was effected without its consent. In case of
the commencement of any action in respect of which indemnity may be sought from
the Agent, the Company's Indemnitees shall have the same obligation to give
notice as set forth in Section 7.1 above, subject to the same loss of indemnity
in the event such notice is not given, and the Agent shall have the same right
to participate in (and, to the extent that it shall wish, to direct) the defense
of such action at its own expense, but such defense shall be conducted by
counsel of recognized standing reasonably satisfactory to the Company. The Agent
agrees to notify the Company's Indemnitees and, at their request, to provide
copies of all pleadings therein and to permit the Company's Indemnitees to be
observers therein and apprise them of all the developments therein, all at the
Agent's expense.

         8.       Effectiveness of Agreement.  This Agreement shall become
effective (i) at 9:00 a.m., New York City time, on the date hereof or (ii) upon
release by the Escrow Agent of the Securities for offering after the date
hereof, whichever shall last occur.

         9.    Termination.

                                      -8-
<PAGE>   9
         9.1 This Agreement may be terminated by the Agent by notice to the
Company in the event that the Company shall have failed or been unable to comply
with any of the terms, conditions or provisions of this Agreement on the part of
the Company to be performed, complied with or fulfilled within the respective
times, if any, herein provided for, unless compliance therewith or performance
or satisfaction thereof shall have been expressly waived by the Agent in
writing.

         9.2 This Agreement may be terminated by the Company by notice to the
Agent in the event that the Agent shall have failed or been unable to comply
with any of the terms, conditions or provisions of this Agreement on the part of
the Agent to be performed, complied with or fulfilled within the respective
times, if any, herein provided for, unless compliance therewith or performance
or satisfaction thereof shall have been expressly waived by the Company in
writing.

         9.3 Any termination of this Agreement pursuant to this Section shall be
without liability of any character (including, but not limited to, loss of
anticipated profits or consequential damages) on the part of any party thereto,
except that the Company shall remain obligated to pay the costs and expenses
provided to be paid by it specified in Sections 3, 5, and 6; and the Company and
the Agent shall be obligated to pay, respectively, all losses, claims, damages
or liabilities, joint or several, under Section 7.1 in the case of the Company
and Section 7.2 in the case of the Agent.

         10.      Agent's Representations, Warranties, and Covenants.  The Agent
represents and warrants to and agrees with the Company that:

         10.1 Agent is a corporation duly incorporated and existing under the
laws of the state of Georgia Agent is registered with the Securities Exchange
Commission and the NASD.

         10.2 There is not now pending or threatened against the Agent any
action or proceeding of which the Agent has been advised, either in any court of
competent jurisdiction, before the Commission or before any state securities
commission or the NASD, concerning the Agent's activities which would impair the
ability of the Agent to conduct the Offering as contemplated by this Agreement.

         10.3 All corporate actions by Agent required for the execution,
delivery and performance of this Agreement have been taken. The execution and
delivery of this Agreement by the Agent, the observance and performance thereof,
and the consummation of the transactions contemplated herein or in the Offering
Documents do not and will not constitute a material breach of, or a material
default under, any instrument or agreement by which the Agent is bound, and does
not and will not, to the best of the Agent's knowledge, contravene any existing
law, decree or order applicable to it. This Agreement constitutes a valid and
binding agreement of Agent, enforceable in accordance with its terms.

         10.4 Agent understands and acknowledges that the Securities are not
being registered under the 1933 Act, and that the Offering is to be conducted
pursuant to Regulation D. Accordingly,

                                      -9-
<PAGE>   10
in conducting its activities under this Agreement Agent shall offer Securities
only to "accredited investors," as defined in Regulation D.

         10.5 Agent's representations and warranties under this Section shall be
true and correct as of the Closing, and shall survive the Closing for a period
of one year.

         11.      Notices.  Except as otherwise expressly provided in this
Agreement:

         11.1 Whenever notice is required by the provisions of this Agreement to
be given to the Company, such notice shall be in writing, addressed to the
Company, at:

         If to the Company:

                  BioShield Technologies, Inc.
                  5655 Peachtree Parkway
                  Norcross, Georgia 30092

                  Telephone:        (770) 246-2000
                  Facsimile:        (770) 368-0784

         With a copy to:

                  Sims Moss Kline & Davis LLP
                  400 Northpark Town Center, Suite 310
                  1000 Abernathy Road
                  Atlanta, Georgia  30328
                  Attn: Raymond L. Moss, Esq.

                  Telephone:        (770) 481-7201
                  Facsimile:        (770) 481-7210

         11.2 Whenever notice is required by the provisions of this Agreement to
be given to the Agent, such notice shall be given in writing, addressed to the
Agent, at:

         If to the Agent:  J.P. Carey Securities, Inc.
                           Atlanta Financial Center, East Tower
                           3343 Peachtree Road, Suite 500
                           Atlanta, Georgia 30326
                           Attn: President

         11.3 Any notice instructing the Escrow Agent to distribute monies or
Securities held in Escrow must be signed by authorized agents of both the
Company and the Agent in order to be valid.

                                      -10-
<PAGE>   11
         12.      Miscellaneous.

         12.1 Benefit. This Agreement is made solely for the benefit of the
Agent and the Company, their respective officers and directors and any
controlling person referred to in Section 15 of the '33 Act and their respective
successors and assigns, and no other person may acquire or have any right under
or by virtue of this Agreement, including, without limitation, the holders of
any Securities. The term "successor" or the term "successors and assigns" as
used in this Agreement shall not include any purchasers, as such, of any of the
Securities.

         12.2 Survival. The respective indemnities, agreements, representations,
warranties, covenants and other statements of the Company and the Agent, or the
officers, directors or controlling persons of the Company and the Agent as set
forth in or made pursuant to this Agreement and the indemnity agreements of the
Company and the Agent contained in Section 7 hereof shall survive and remain in
full force and effect for a period of three (3) years from the date hereof,
regardless of (i) any investigation made by or on behalf of the Company or the
Agent or any such officer, director or controlling person of the Company or of
the Agent; (ii) delivery of or payment for the Securities; or (iii) the Closing
Date, and any successor of the Company or the Agent or any controlling person,
officer or director thereof, as the case may be, shall be entitled to the
benefits hereof.

         12.3 Governing Law. This Agreement shall be governed by and interpreted
in accordance with the laws of the State of Georgia without regard to the
principles of conflict of laws. Any dispute or controversy between the parties
arising in connection with this agreement or the subject matter contemplated by
this agreement shall be resolved by arbitration before a three-member panel of
the American Arbitration Association in accordance with the commercial
arbitration rules of said forum and the Federal Arbitration Act, 9 U.S.C. 1 et
seq., with the resulting award being final and conclusive. Said arbitrators
shall be empowered to award all forms of relief and damages claimed, including,
but not limited to, attorney's fees, expenses of litigation and arbitration,
exemplary damages, and prejudgment interest. Notwithstanding the foregoing,
Agent may at any time and at its option, whether or not an arbitration action is
then pending, initiate a civil action for temporary and permanent injunctive and
other equitable relief against Company. Company acknowledges that upon any
breach of Agent's rights to Warrants or other compensation hereunder, Agent's
resulting injury may not be adequately compensated by a remedy at law.
Accordingly, upon such breach, Agent, at its election and without limitation of
its other remedies, shall be entitled to pursue a claim for specific performance
of this Agreement, and Company hereby waives the right to assert any defense
thereto that Agent has an adequate remedy at law. The parties further agree that
any arbitration action between them shall be heard in Fulton County, Georgia.

         12.4 Counterparts. This Agreement may be executed in any number of
counterparts, each of which may be deemed an original and all of which together
will constitute one and the same instrument.

                                      -11-
<PAGE>   12
         12.5 Confidential Information. All confidential financial or business
information (except publicly available or freely usable material otherwise
obtained from another source) respecting either party will be used solely by the
other party in connection with the within transactions, be revealed only to
employees or contractors of such other party who are necessary to the conduct of
such transactions, and be otherwise held in strict confidence.

         12.6 Public Announcements.  Prior to the Closing Date, neither party
hereto will issue any public announcement concerning the within transactions
without the approval of the other party.

         12.7 Recitals. The recitals to this Agreement are a material part
hereof, and each recital is incorporated into this Agreement by reference and
made a part of this Agreement.

         12.8 Independent Counsel. The parties to this Agreement acknowledge
that Company and BSTI have received independent counsel from the law firm of
Sims Moss Kline & Davis LLP which is acting as their counsel. Agent has been
advised by Sims Moss Kline & Davis LLP to seek independent advice with respect
to the terms and conditions of this Agreement and any related agreements before
signing them.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -12-
<PAGE>   13
         IN WITNESS WHEREOF, the parties hereto have duly caused this Agreement
to be executed as of the day and year first above written.

                                  "THE COMPANY"
                                  BIOSHIELD TECHNOLOGIES, INC.

                                  By:_____________________________________
                                  Name: Timothy C. Moses
                                  Title:    President

                                  "THE AGENT"
                                  J.P. CAREY SECURITIES, INC.

                                  By:__________________________________________
                                  Name:________________________________________
                                  Title: ______________________________________<PAGE>   1
                                                                   EXHIBIT 10.89

                                WARRANT AGREEMENT

         WARRANT AGREEMENT dated as of June 15, 2000, between BioShield
Technologies, Inc., a Delaware corporation (the "COMPANY"), and Wilson LLC, a
Cayman Island limited liability company (hereinafter referred to as "INVESTOR").

                              W I T N E S S E T H:

         WHEREAS, Investor has participated as an Investor in connection with
the Company's offering (the "OFFERING") of up to $10,000,000 of the Company's
Series B Convertible Preferred Stock, no par value (the "PREFERRED STOCK"); and

         WHEREAS, the Warrants issued pursuant to this Agreement are being
issued by the Company to Investor and/or its designees, in consideration for,
and as part of the investment by Investor in connection with the Offering;

         NOW, THEREFORE, in consideration of the premises, the agreements herein
set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows
(capitalized terms used herein without definition shall have the meanings
ascribed to then in the Offering):

         1.       Grant.

         Investor and/or its designees are hereby granted the right to purchase,
at any time from the date of the closing of the first purchase by Investor of
shares of common stock, no par value (the "COMMON STOCK") pursuant to the
Offering (the "INITIAL CLOSING") until 5:00 P.M., Eastern Standard Time, on the
fifth anniversary of the Initial Closing (the "WARRANT EXERCISE TERM"), 79,281
Shares of Common Stock (the "SHARES") at an exercise price (subject to
adjustment as provided in Article 7 hereof) equal to $18.92 (the "INITIAL
EXERCISE PRICE").

         2.       Warrant Certificates.

         The warrant certificates (the "WARRANT CERTIFICATES") delivered and to
be delivered pursuant to this Agreement shall be in the form set forth as
Exhibit A, attached hereto and made a part hereof, with such appropriate
insertions, omissions, substitutions and other variations as required or
permitted by this Agreement.

         3.       Exercise of Warrants.

                  3.1 Cash Exercise. The Exercise Price may be paid in cash or
by check to the order of the Company, or any combination of cash or check,
subject to adjustment as provided in Article 7 hereof. Upon surrender of the
Warrant Certificate with the annexed Form of Election to Purchase duly executed,
together with payment of the Exercise Price (as hereinafter defined) for the
Shares purchased, at the Company's executive offices currently located at 5655
Peachtree Parkway Atlanta, Georgia 30092, the registered holder of a Warrant
Certificate ("HOLDER" or

<PAGE>   2

"HOLDERS") shall be entitled to receive a certificate or certificates for the
Shares so purchased. The purchase rights represented by each Warrant Certificate
are exercisable at the option of the Holder hereof, in whole or in part (but not
as to fractional shares of the Common Stock). In the case of the purchase of
less than all the Shares purchasable under any Warrant Certificate, the Company
shall cancel said Warrant Certificate upon the surrender thereof and shall
execute and deliver a new Warrant Certificate of like tenor for the balance of
the Shares purchasable thereunder.

         3.2      Cashless Exercise. At any time during the Warrant Exercise
Term, the Holder may, at its option, exchange this Warrant, in whole or in part
(a "WARRANT EXCHANGE"), into the number of Shares determined in accordance with
this Section 3.2, by surrendering this Warrant at the principal office of the
company or at the office of its transfer agent, accompanied by a notice stating
such Holder's intent to effect such exchange, the number of Shares to be
exchanged and the date on which the Holder requests that such Warrant Exchange
occur (the "NOTICE OF EXCHANGE"). The Warrant Exchange shall take place on the
date specified in the Notice of Exchange or, if later, the date the Notice of
Exchange is received by the Company (the "EXCHANGE Date"). Certificates for the
Shares issuable upon such Warrant Exchange and, if applicable, a new warrant of
like tenor evidencing the balance of the Shares remaining subject to this
Warrant, shall be issued as of the Exchange Date and delivered to the Holder
within seven (7) business days following the Exchange Date. In connection with
any Warrant Exchange, this Warrant shall represent the right to subscribe for
and acquire the number of Shares (rounded to the next highest integer) equal to
(i) the number of Shares specified by the Holder in its Notice of Exchange (the
"TOTAL NUMBER") less (ii) the number of Shares equal to the quotient obtained by
dividing (A) the product of the Total Number and the then existing Exercise
Price by (B) the average of the Closing Prices for the five Trading Days
immediately prior to the date specified in the Notice of Exchange.

         3.3      Exercise Limitation. In no event shall any Investor be
entitled to exercise any of the warrants if, upon the exercise of such
warrant(s), it would cause the aggregate number of shares of Common Stock
beneficially owned by the Investor and its affiliates to exceed 4.9% of the
outstanding shares of the Common Stock following such exercise.

         4.       Issuance of Certificates.

         Upon the exercise of the Warrants, the issuance of certificates for the
Shares shall be made forthwith (and in any event within five business days
thereafter) without charge to the Holder thereof including, without limitation,
any tax which may be payable in respect of the issuance thereof, and such
certificates shall be issued in the name of, or in such names as may be directed
by, the Holder thereof; provided, however, that the Company shall not be
required to pay any tax which may be payable in respect of any transfer involved
in the issuance and delivery of any such certificates in a name other than that
of the Holder and the Company shall not be required to issue or deliver such
certificates unless or until the person or persons requesting the issuance
thereof shall have paid to the Company the amount of such tax or shall have
established to satisfaction of the Company that such tax has been paid.

                                       2
<PAGE>   3

         The Warrant Certificates and the certificates representing the Shares
shall be executed on behalf of the Company by the manual or facsimile signature
of the present or any future Chairman or Vice Chairman of the Board of
Directors, Chief Executive officer or President or Vice President of the Company
under its corporate seal reproduced thereon, attested to by the manual or
facsimile signature of the present or any future Secretary or Assistant
Secretary of the Company. Warrant Certificates shall be dated the date of
execution by the Company upon initial issuance, division, exchange, substitution
or transfer.

         The Warrant Certificates and, upon exercise of the Warrants, in part or
in whole, certificates representing the Shares shall bear a legend substantially
similar to the following:

         The securities represented by this certificate have not been registered
         under the Securities Act of 1933, as amended (the "ACT"), and may not
         be offered or sold except (i) pursuant to an effective registration
         statement under the Act, (ii) to the extent applicable, pursuant to
         Rule 144 under the Act (or any similar rule under such Act relating to
         the disposition of securities), or (iii) upon the delivery by the
         holder to the Company of an opinion of counsel, satisfactory to counsel
         to the issuer, stating that an exemption from registration under such
         Act is available.

         5.       Price.

                  5.1      Adjusted Exercise Price. The adjusted Exercise Price
shall be the price which shall result from time to time from any and all
adjustments of the Initial Exercise Price in accordance with the provisions of
Article 7 hereof.

                  5.2      Exercise Price. The term "EXERCISE PRICE" herein
shall mean the Initial Exercise Price or the adjusted Exercise Price, depending
upon the context.

         6.       Registration Rights.

                  6.1      Registration Under the Securities Act of 1993.

                  The Warrants and the Shares have not been registered for
purposes of public distribution under the Securities Act of 1933, as amended
("THE ACT").

                  6.2      Registrable Securities. As used herein the term
"REGISTRABLE SECURITY" means each of the Warrants, the Shares and any shares of
Common Stock issued upon any stock split or stock dividend in respect of such
Shares; provided, however, that with respect to any particular Registrable
Security, such security shall cease to be a Registrable Security when, as of the
date of determination, (i) it has been effectively registered under the
Securities Act and disposed of pursuant thereto, (ii) registration under the
Securities Act is no longer required for the immediate public distribution of
such security or (iii) it has ceased to be outstanding. The term "REGISTRABLE
SECURITIES" means any and/or all of the securities falling within the foregoing
definition of a "Registrable Security." In the event of any merger,
reorganization, consolidation, recapitalization or other change in corporate
structure affecting the Common Stock, such

                                       3
<PAGE>   4
adjustment shall be made in the definition of "Registrable Security" as is
appropriate in order to prevent any dilution or enlargement of the rights
granted pursuant to this Article 6.

                  6.3      Piggyback Registration. If, at any time during the
five years following the date of the Initial Closing, the Company proposes to
prepare and file any registration statement or post-effective amendments (other
than in connection with an underwritten initial public offering or initial
registration of the Company or the Company=s securities with the U.S. Securities
& Exchange Commission) thereto covering equity or debt securities of the
Company, or any such securities of the Company held by its shareholders (in any
such case, other than in connection with a merger, acquisition or pursuant to
Form S-8 or successor form), (for purposes of this Article 6, collectively, a
"REGISTRATION STATEMENT"), it will give written notice of its intention to do so
by registered mail ("NOTICE"), at ten (10) business days prior to the filing of
each such Registration Statement, to all holders of the Registrable Securities.
Upon the written request of such a holder (a "REQUESTING HOLDER"), made within
ten (10) business days after receipt of the Notice, that the Company include any
of the Requesting Holder's Registrable Securities in the proposed Registration
Statement, the Company shall, as to each such Requesting Holder, use its best
efforts to effect the registration under the Securities Act of the Registrable
Securities which it has been so requested to register ("PIGGYBACK
REGISTRATION"), at the Company's sole cost and expense and at no cost or expense
to the Requesting Holders. Notwithstanding the provisions of this Section 6.3,
the Company shall have the right at any time after it shall have given written
notice pursuant to this Section 6.3 (irrespective of whether any written request
for inclusion of such securities shall have already been made) to elect not to
file any such proposed Registration Statement, or to withdraw the same after the
filing but prior to the effective date thereof.

         7.       Adjustments of Exercise Price and Number of Shares.

                  7.1      Subdivision and Combination. In case the Company
shall at any time subdivide or combine the outstanding shares of Common Stock,
the Exercise Price shall forthwith be proportionately decreased in the case of
subdivision or increased in the case of combination.

                  7.2      Adjustment in Number of Shares. Upon each adjustment
of the Exercise Price pursuant to the provisions of this Article 7, the number
of Shares issuable upon the exercise of each Warrant shall be adjusted to the
nearest full Share by multiplying a number equal to the Exercise Price in effect
immediately prior to such adjustment by the number of Shares issuable upon
exercise of the Warrants immediately prior to such adjustment and dividing the
product so obtained by the adjusted Exercise Price.

                  7.3      Reclassification, Consolidation, Merger, etc. In case
of any reclassification or change of the outstanding shares of Common Stock
(other than a change in par value to no par value, or from no par value to par
value, or as a result of a subdivision or combination), or in the case of any
consolidation of the Company with, or merger of the Company into, another
corporation (other than a consolidation or merger in which the Company is the
surviving corporation and which does not result in any reclassification or
change of the outstanding shares of Common Stock, except a change as a result of
a subdivision or

                                       4
<PAGE>   5

combination of such shares or a change in par value, as aforesaid), or in the
case of a sale or conveyance to another corporation of the property of the
Company as an entirety, the Holders shall thereafter have the right to purchase
the kind and number of shares of stock and other securities and property
receivable upon such reclassification, change, consolidation, merger, sale or
conveyance as if the Holders were the owners of the shares of Common Stock
underlying the Warrants immediately prior to any such events at a price equal to
the product of (x) the number of shares issuable upon exercise of the Warrants
and (y) the Exercise Price in effect immediately prior to the record date for
such reclassification, change, consolidation, merger, sale or conveyance as if
such Holders had exercised the Warrants.

                  7.4      No Adjustment of Exercise Price in Certain Cases. No
adjustment of the Exercise Price shall be made:

                           (a)      Upon the issuance or sale of shares of
                  Common Stock upon the exercise of the Warrants; or

                           (b)      Upon (i) the issuance of options pursuant to
                  the Company's employee stock option plans in effect or the
                  issuance or sale by the Company of any shares of Common Stock
                  pursuant to the exercise of any such options, or (ii) the
                  issuance or sale by the Company of any shares of Common Stock
                  pursuant to the exercise of any options or warrants; or

                           (c)      Upon the issuance of shares of Common Stock
                  pursuant to contractual obligations; or

                           (d)      If the amount of said adjustment shall be
                  less than 2 cents (24) per Share, provided, however, that in
                  such case any adjustment that would otherwise be required then
                  to be made shall be carried forward and shall be made at the
                  time of and together with the next subsequent adjustment
                  which, together with any adjustment so carried forward, shall
                  amount to at least 2 cents (24) per Share.

         8.       Exchange and Replacement of Warrant Certificates.

         Each Warrant Certificate is exchangeable without expense, upon the
surrender hereof by the registered Holder at the principal executive office of
the Company, for a new Warrant Certificate of like tenor and date representing
in the aggregate the right to purchase the same number of Shares in such
denominations as shall be designated by the Holder thereof at the time of such
surrender.

         Upon receipt by the Company of evidence reasonably satisfactory to it
of the loss, theft, destruction or mutilation of any Warrant Certificate, and,
in case of loss, theft or destruction, of indemnity or security reasonably
satisfactory to it, and reimbursement to the Company of all reasonable expenses
incidental thereto, and upon surrender and cancellation of the Warrants, if
mutilated, the Company will make and deliver a new Warrant Certificate of like
tenor, in lieu thereof.

                                       5
<PAGE>   6

         9.       Elimination of Fractional Interests.

         The Company shall not be required to issue certificates representing
fractions of shares of Common Stock and shall not be required to issue scrip or
pay cash in lieu of fractional interests, it being the intent of the parties
that all fractional interests shall be eliminated by rounding any fraction up to
the nearest whole number of shares of Common Stock.

         10.      Reservation and Listing of Securities.

         The Company shall at all times reserve and keep available out of its
authorized shares of Common Stock, solely for the purpose of issuance upon the
exercise of the Warrants, such number of shares of Common Stock as shall be
issuable upon the exercise thereof. The Company covenants and agrees that, upon
exercise of the Warrants and payment of the Exercise Price therefor, all shares
of Common Stock issuable upon such exercise shall be duly and validly issued,
fully paid, non-assessable and not subject to the preemptive rights of any
shareholder. As long as the Warrants shall be outstanding, the Company shall use
its best efforts, once it has become a public company, to cause all shares of
Common Stock issuable upon the exercise of the Warrants to be listed on or
quoted on the electronic bulletin board, by NASDAQ or listed on such national
securities exchanges.

         11.      Notices to Warrant Holders.

         Nothing contained in this Agreement shall be construed as conferring
upon the Holder or Holders the right to vote or to consent or to receive notice
as a shareholder in respect of any meetings of shareholders for the election of
directors or any other matter, or as having any rights whatsoever as a
shareholder of the Company. If, however, at any time prior to the expiration of
the Warrants and their exercise, any of the following events shall occur:

                  (a)      the Company shall take a record of the holders of its
         shares of Common Stock for the purpose of entitling them to receive a
         dividend or distribution payable otherwise than in cash, or a cash
         dividend or distribution payable otherwise than out of current or
         retained earnings, as indicated by the accounting treatment of such
         dividend or distribution on the books of the Company; or

                  (b)      a dissolution, liquidation or winding up of the
         Company (other than in connection with a consolidation or merger) or a
         sale of all or substantially all of its property, assets and business
         as an entirety shall be proposed;

then, in any one or more of said events, the Company shall give written notice
of such event at least fifteen (15) days prior to the date fixed as a record
date or the date of closing the transfer books for the determination of the
shareholders entitled to such dividend, distribution, convertible or
exchangeable securities or subscription rights, options or warrants, or entitled
to vote on such proposed dissolution, liquidation, winding up or sale. Such
notice shall specify

                                       6
<PAGE>   7

such record date or the date of closing the transfer books, as the case may be.
Failure to give such notice or any defect therein shall not affect the validity
of any action taken in connection with the declaration or payment of any such
dividend or distribution, or any proposed dissolution, liquidation, winding up
or sale.

         12.      Notices.

         All notices, requests, consents and other communications hereunder
shall be in writing and shall be deemed to have been duly made when delivered,
or mailed by registered or certified mail, return receipt requested:

                  (a)      If to a registered Holder of the Warrants, to the
         address of such Holder as shown on the books of the Company; or

                  (b)      If to the Company, to the address set forth in
         Section 3 of this Agreement or to such other address as the Company may
         designate by notice to the Holders.

         13.      Supplements and Amendments.

         The Company may from time to time supplement or amend this Agreement
without the approval of any Holders of Warrant Certificates in order to cure any
ambiguity, to correct or supplement any provision contained herein which may be
defective or inconsistent with any provisions herein, or to make any other
provisions in regard to matters or questions arising hereunder which the Company
may deem necessary or desirable and which the Company deems not to adversely
affect the interests of the Holders of Warrant Certificates.

         14.      Successors.

         All the covenants and provisions of this Agreement by or for the
benefit of the Company and the Holders inure to the benefit of their respective
successors and assigns hereunder.

         15.      Termination.

         This Agreement shall terminate at the close of business on the fifth
anniversary of the Initial Closing. Notwithstanding the foregoing, this
Agreement will terminate on any earlier date when all Warrants have been
exercised and all the Shares issuable upon exercise of the Warrants have been
resold to the public; provided, however, that the provisions of Article 6 shall
survive such termination until the close of business on fifth anniversary of the
Initial Closing.

         16.      Governing Law.

         This Agreement and each Warrant Certificate hereunder shall be governed
by and interpreted in accordance with the laws of the State of Georgia without
regard to the principles of conflict of laws. The parties further agree that any
action between them shall be heard in Atlanta, Georgia, and expressly consent to
the jurisdiction and venue of the Superior Court of Fulton County, Georgia, and
the United States District Court for the Northern District of

                                       7
<PAGE>   8
Georgia, Atlanta Division for the adjudication of any civil action asserted
pursuant to this Paragraph.

         17.      Benefits of This Agreement.

         Nothing in this Agreement shall be construed to give to any person or
corporation other than the Company and the Investor and any other registered
holder or holders of the Warrant Certificates, Warrants or the Shares any legal
or equitable right, remedy or claim under this Agreement; and this Agreement
shall be for the sole and exclusive benefit of the Company and the Investor and
any other holder or holders of the Warrant Certificates, Warrants or the Shares.

         18.      Counterparts.

         This Agreement may be executed in any number of counterparts and each
of such counterparts shall for all purposes be deemed to be an original, and
such counterparts shall together constitute but one and the same instrument.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       8

<PAGE>   9
         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed, as of the day and year first above written.

                                       BIOSHIELD TECHNOLOGIES, INC.

                                       By:
                                          -------------------------------------
                                       Name:    Timothy C. Moses
                                       Title:   Co-Chairman of the Board and
                                                Chief Executive Officer

Attest:
       ------------------------------
Name:
       ------------------------------
Title:
       ------------------------------

                                       INVESTOR:

                                       WILSON LLC

                                       By:
                                          -------------------------------------
                                       Name:
                                       Title:

Attest:
       ------------------------------
Name:
       ------------------------------
Title:
       ------------------------------

                                       9

<PAGE>   10
                                    EXHIBIT A

THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND THE OTHER SECURITIES ISSUABLE
UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE "ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT (i) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE,
PURSUANT TO RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING
TO THE DISPOSITION OF SECURITIES), OR (iii) UPON THE DELIVERY BY THE HOLDER TO
THE COMPANY OF AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO COUNSEL FOR THE
ISSUER, STATING THAT AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

THE TRANSFER OR EXCHANGE OF THE WARRANTS REPRESENTED BY THIS CERTIFICATE IS
RESTRICTED IN ACCORDANCE WITH THE WARRANT AGREEMENT REFERRED TO HEREIN.

                            EXERCISABLE ON OR BEFORE
                 5:00 P.M., EASTERN STANDARD TIME, JUNE 14, 2005

No. ___________                                                  79,281 Shares

                               WARRANT CERTIFICATE

         This Warrant Certificate certifies that Wilson, LLC ("INVESTOR") or
registered assigns, is the registered holder of 79,281 Warrants to purchase, at
any time from June 15, 2000, until 5:00 P.M. Eastern Standard Time on June 14,
2005 ("EXPIRATION DATE"), up to 79,281 shares ("SHARES") of fully-paid and
non-assessable common stock, no par value ("COMMON STOCK"), of BioShield
Technologies, Inc., a Delaware corporation (the "COMPANY"), at the Initial
Exercise Price, subject to adjustment in certain events (the "EXERCISE PRICE"),
of $18.92 per Share upon surrender of this Warrant Certificate and payment of
the Exercise Price at an office or agency of the Company, but subject to the
conditions set forth herein and in the warrant agreement dated as of June 15,
2000, between the Company and Investor (the "WARRANT AGREEMENT"). Payment of the
Exercise Price may be made in cash, or by certified or official bank check in
New York Clearing House funds payable to the order of the Company, or any
combination of cash or check.

         No Warrant may be exercised after 5:00 P.M., Eastern Standard Time, on
the Expiration Date, at which time all Warrants evidenced hereby, unless
exercised prior thereto, shall thereafter be void.

         The Warrants evidenced by this Warrant Certificate are part of a duly
authorized issue of Warrants issued pursuant to the Warrant Agreement, which
Warrant Agreement is hereby incorporated by reference in and made a part of this
instrument and is hereby referred to in a

<PAGE>   11

description of the rights, limitation of rights, obligations, duties and
immunities thereunder of the Company and the holders (the words "HOLDERS" or
"HOLDER" meaning the registered holders or registered holder) of the Warrants.

         The Warrant Agreement provides that upon the occurrence of certain
events, the Exercise Price and/or number of the Company's securities issuable
thereupon may, subject to certain conditions, be adjusted. In such event, the
Company will, at the, request of the holder, issue a new Warrant Certificate
evidencing the adjustment in the Exercise Price and the number and/or type of
securities issuable upon the exercise of the Warrants; provided, however, that
the failure of the Company to issue such new Warrant Certificates shall not in
any way change, alter, or otherwise impair, the rights of the holder as set
forth in the Warrant Agreement.

         Upon due presentment for registration of transfer of this Warrant
Certificate at an office or agency of the Company, a new Warrant Certificate or
Warrant Certificates of like tenor and evidencing in the aggregate a like number
of Warrants shall be issued to the transferees) in exchange for this Warrant
Certificate, subject to the limitations provided herein and in the Warrant
Agreement, without any charge except for any tax, or other governmental charge
imposed in connection therewith.

         Upon the exercise of less than all of the Warrants evidenced by this
Certificate, the Company shall forthwith issue to the holder hereof a new
Warrant Certificate representing such number of unexercised Warrants.

         The Company may deem and treat the registered holder(s) hereof as the
absolute owner(s) of this Warrant Certificate (notwithstanding any notation of
ownership or other writing hereon made by anyone), for the purpose of any
exercise hereof, and of any distribution to the holder(s) hereof, and for all
other purposes, and the Company shall not be affected by any notice to the
contrary.

         All terms used in this Warrant Certificate which are defined in the
Warrant Agreement shall have the meanings assigned to them in the Warrant
Agreement.

<PAGE>   12

         IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to
be duly executed under its corporate seal.

Dated: As of June ________, 2000            BIOSHIELD TECHNOLOGIES, INC.

                                            By:
                                               --------------------------------
                                            Name:
                                                 ------------------------------
                                            Title:
                                                  -----------------------------

Attest:
       ------------------------------
Name:
       ------------------------------
Title:
       ------------------------------

<PAGE>   13

                         [FORM OF ELECTION TO PURCHASE]

         The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to purchase ____________ Shares and
herewith tenders in payment for such Shares cash or a certified or official bank
check payable in New York Clearing House Funds to the order of
_____________________ in the amount of $_______________, all in accordance with
the terms hereof. The undersigned requests that a certificate for such Shares be
registered in the name of ___________________________________ whose address
is_____________________________, and that such Certificate be delivered to
___________________________________________, whose address is _________________.

Dated:                                      Signature:
      ------------------------------                  -------------------------
                                            (Signature must conform in all
                                            respects to name of holder as
                                            specified on the face of the Warrant
                                            Certificate.)

------------------------------------

------------------------------------
(Insert Social Security or Other
Identifying Number of Holder)

<PAGE>   14

                              [FORM OF ASSIGNMENT]

             (To be executed by the registered holder if such holder
                  desires to transfer the Warrant Certificate.)

         FOR VALUE RECEIVED ___________________________________________ hereby
sells, assigns and transfers unto

         -----------------------------------------------------------------------
                  (Please print name and address of transferee)

this Warrant Certificate, together with all right, title and interest therein,
and does hereby irrevocably constitute and appoint
___________________________________, Attorney, to transfer the within Warrant
Certificate on the books of the within-named Company, with full power of
substitution.

Dated: _____________________           Signature:_____________________________

                                       (Signature must conform in all respects
                                       to name of holder as specified on the
                                       face of the Warrant Certificate)

-------------------------------------

-------------------------------------
(Insert Social Security or Other
Identifying Number of Assignee)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}]]